now to see how markets here are reacting, let's go to ai uchida who is standing by at the tokyo stock exchange. mayu, how is it kicking off today? >> no change in rates was widely expected but the fed did upgrade its assessment on the labor market. that prompted many on wall street to buy stocks. here in tokyo, markets are tracking the rally. shares are losing the four-day losing streak. the nikkei is up to 20,456. and the topix is opening higher as well up .82%. now, basically the focus is still on whether the fed will raise rates in september or possibly december. >> but many market watchers are saying that the fed gave no clues about the timing of rate hikes this time. and they're calling it another poker face statement. one analyst said that's probably because the feds don't want to rattle the markets. wall street finished higher following the fed's decision the dow closed up neil .7 of a percent. earnings here in the u.s. are playing into the markets as well. yelp sharings are taking a pounding. they slashed their outlook and shares nose dived 25%. facebook's second quarter earni

to see how investors are reacting we're joined by ai uchida. >> european markets actually seem like business is usual. on wall street investors seem to have shrugged off concerns surrounding greece's default. the dow jones industrial average did manage to finish in positive by just 0.1% while the tech-heavy nasdaq finished up more than 0.5% higher. this was after that initial shock yesterday that greece may default. even germany slammed the door on appeals. it didn't seem to have too much of an impact because investors have been bracing for this moment for quite some time now. tokyo is no exception. the benchmark nikkei snapped a three-day losing streak yesterday. to see how markets are reacting today, let's go to ramin mellegard. what is happening? >> thank you, very much. very good morning to you, ai. let's actually go to the opening levels for july 1st, and both indexes here trading in the positive. pretty much carrying on from what you just mentioned about the u.s. markets. the drama, of course continues to surround greece and all the players involved. traders and investors actually seem

ai uchida joins us from the business deck with some of the details from the report by the international monetary fund. what does it say? >> interesting to note is that the assessment was compiled june 26. that is before days before greece failed to repay the imf and has gone into what the imf officials call into arrears. the report does warn that the country needs more funding and maybe even significant debt relief on top of that. the assessment says that greece experienced a substantial increase in financing needs. the report makes a projection calling for at least 36 billion euros or about $40 billion from the european partners over the next three years. the imf also points out that little progress has been made with austerity and structural reform since prime minister tsipras took office in january. greece can apply for a new bailout from the imf until it repays the existing one, but the fund is apparently urging greece and its partners to find middle ground to solve the crisis. >>> outside of greece investors around the world have been closely watching the monthly u.s. jobs report.

ai uchida joins us now. the ecb also one of greece's creditors. how much do the greeks owe them?> well the total outstanding debt for greece, comes to about $350 billion. out of that, about 30 billion is from the ecb. the central bank's board members have made a decision that could keep greek banks closed for some time longer. they won't raise the ceiling of emergency funding for these institutions. the ecb officials sat down together in frankfurt and made their decision after greece became the first developed country to fail to meet a repayment deadline to the imf. although the ecb officials say the ceiling won't be raised, they will keep the tap open for emergency lending to greek banks through the country's central bank. the board members apparently decided to wait to see the outcome of sunday's referendum in greece on whether the debt-ridden country will agree to austerity measures. >>> as for markets, european and u.s. ended higher. analysts say investors are seeing a glimmer of hope in the greek debt deal, despite the twists and turns. in london up 1.3%. the cack 40 rose ar