Good morning. Here's what you need to know. [list] [*]Global markets have soared today on news of Greek debt haircuts. [b]Japan’s Nikkei finished up more than 2%, while the Hang Seng added 3.3%.[/b] In Europe both the DAX and CAC gained 4%. U.S. futures are pointing to a massive positive open.[/*:m] [*] [url=http://e.businessinsider.com/8trs.35g/TqjV9D9NvYSVP1jLBc017][b]Late last night, European leaders agreed to 50% haircuts on Greek debt, a levered European Financial Stability Facility that could reach $1.4 trillion, and a 9% bank core capital ratio[/b][/url] , which all represent significant progress to address the E.U. meltdown. Banks will need to raise nearly [url=<a]$147[/url] billion to recapitalize. [url=http://e.businessinsider.com/8trs.35g/TqaglT9N0hfPm_tNB8899]Guess who was freaking out over Greece before the agreement >[/url][/*:m] [*]French President [url=http://e.businessinsider.com/8trs.35g/TibAWomv_iHWlGn5B0bbf]Nicolas Sarkozy[/url] said that emerging markets could be tapped as part of the region’s recapitalization plan. [b]The E.U. plans to reach out to China’s [url=http://e.businessinsider.com/8trs.35g/TqlDn_Ed80wFmYbuBc81d]Hu Jintao[/url] .[/b] [url=http://e.businessinsider.com/8trs.35g/TqfSpj9NwqVPzmQyBe163]Yesterday Bloomberg reported the head of the EFSF was en route to China.[/url][/*:m] [*][b]The Bank of Japan announced plans to boost its asset-buying program by 33% to 20 trillion yen, [url=http://e.businessinsider.com/8trs.35g/TqlDn_Ed80wFmYbvB8160]a 5 trillion yen increase[/url] [/b]. The bank also said it would intervene if the yen continues to appreciate. [url=http://e.businessinsider.com/8trs.35g/TZDXQIO8Fi0iNaI0B788e]Here are the big Japanese companies you need to watch during the country's reconstruction >[/url][/*:m] [*][b]South Korea’s third quarter GDP growth slackened to 0.7%[/b], beating economist estimates of 0.6%, but slowing sequentially from 0.9% [url=http://e.businessinsider.com/8trs.35g/TqlDn_Ed80wFmYbwB3c06]. The Bank of Korea indicated it would not raise interest rates for the fourth month in a row[/url] , even as inflation remains above target levels of 4%. [/*:m] [*][b] [url=http://e.businessinsider.com/8trs.35g/Tqiy2z9NwqVPzrWgBefc9]The Congressional super committee tasked with cutting the deficit by $1.2 trillion is deadlocked, with only weeks left before its deadline[/url] .[/b] Democrats had presented a [url=<a]$3[/url] trillion package that included tax increases, but Republicans refused. Ratings agencies, including S&P, have said they might downgrade U.S. debt if deficit reduction is not agreed upon. [url=http://e.businessinsider.com/8trs.35g/Tp727XSITyZBxXsSB5b18]Tea Party and Occupy Wall Street protestors will have something to say >[/url][/*:m] [*] [url=http://e.businessinsider.com/8trs.35g/TjgmPJ4d_iESppbgBf7f5][b]Politico's Ben White reports the bailout of Freddie Mac and Fannie Mae may cost U.S. taxpayers tens of billions less than originally expected.[/b][/url] The net cost could come in below [url=<a]$200[/url] billion, or half original projections. Federal Housing Finance Authority stress tests could be released as soon as today .[/*:m] [*]U.S. third quarter GDP will be announced at 8:30 a.m. [b]Economists polled by [url=http://e.businessinsider.com/8trs.35g/ThXYatlC_iH_S5_UB1d28]Bloomberg[/url] are forecasting growth of 2.5%, up from 1.3% in the second.[/b] Initial jobless claims will be released at 10 a.m., with expectations at 401,000. That's down 2,000 since last week.[/*:m] [*] Yesterday Visa beat earnings by two cents, with EPS of [url=<a]$1.27[/url] . Revenue for the card processor missed expectations however, rising to [url=<a]$2.38[/url] billion. Analysts were looking for [url=<a]$2.39[/url] billion. [url=http://e.businessinsider.com/8trs.35g/TqLUTHSIuVoAPuJPBec7c]Check out all of last week's earners here >[/url][/*:m] [*][b] [url=http://e.businessinsider.com/8trs.35g/TFDbjk4LvLmSHPAEBde5e]Exxon[/url] Mobil and Procter and Gamble will report quarterly results before the opening bell.[/b] The oil giant is predicted to post earnings of [url=<a]$2.13[/url] a share, down from [url=<a]$2.17[/url] last quarter. [url=http://e.businessinsider.com/8trs.35g/TE9EW-u4vLmOAm_aD4f3b]Follow all the results live on Money Game.[/url][/*:m][/list:u] [b]BONUS: [/b] [url=http://e.businessinsider.com/8trs.35g/TqlDn_Ed80wFmYbxB2d82][b]Ivanka Trump has been spotted on the set of the upcoming season of The Apprentice. You're fired![/b][/url]