DJIA: Euro Leaders Reviewing Athens' Progress, British Officials Oppose Transaction Tax, Amazon Launches 'Kindle Fire'

Stocks rose this morning on Wall Street, indicating stocks will climb for a fourth straight session as investors remain encouraged by progress toward plans to ease the euro zone's debt woes. Officials from the European Commission, ECB, and IMF plan to review Athen’s debt-reduction progress, before they decide to give Greece more badly needed bailout cash. Efforts to solidify a euro zone rescue fund and alleviate the region's sovereign debt crisis lifted stocks yesterday for a third consecutive session and came after four straight days of losses for the benchmark S&P 500. Market volatility could remain as traders react to European headlines and attempt to gauge the commitment of governments and institutions as they work to prevent a Greek default. British banking and government officials said they are opposed to the imposition of a financial transaction tax upon members of the EU proposed by the European Commission. Under terms of the proposed tax, a rate of 0.1 percent would be levied on all financial transactions involving at least one party that is based in the EU. According to the EC, if implemented, the tax would come into effect in 2014 and is expected to generate about $78 billion annually. Amazon’s long awaited tablet computer, and the iPad’s biggest competitor, was finally announced today. The Kindle Fire, priced at $199, could give Apple a run for its money. Amazon shares rose 3.2 percent $231.29, while shares of Barnes & Noble, maker of the Nook e-reader, dropped 7.9 percent to $12.16 in morning action. Now for a look at today’s economic calendar… New orders for long-lasting U.S. manufactured goods slipped in August on weak demand for motor vehicles, but a rebound in a gauge of business spending supported views the economy could avoid another recession. The Commerce Department said durable goods orders dipped 0.1 percent after an unrevised 4.1 percent jump in July. let’s check in with our major indices… the Dow Jones industrial average. Gold prices plummeted in the last week more than 10 percent, their biggest such drop since 1983, in a plunge that left the metal's reputation as safe-haven investment badly bruised. Gold is currently Let’s take a glance at the major currency pairs… Discussions with Greek officials, which are scheduled for tomorrow, will lead to a decision on whether or not Athens will receive the next 8-billion-euro of the 110-billion-euro bailout package agreed to last year.