Email| Dow | (%) | ||
| Nasdaq | (%) | ||
| SP 500 | (%) | ||
| 10-yr Note | +29/32 | 2.92% | |
| NYSE | Adv | Dec | Vol |
| Nasdaq | Adv | Dec | Vol |
| Strong: education services; gold; diversified metals and miners; paper packaging; thrifts and mortgage lenders; casinos and gaming |
| Weak: semiconductor equipment; electronic manufacturing services; electronic equipment and instruments; application software; diversified chemicals; tobacco; commercial printing; trading and distribution companies |
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FOMC minutes note talk, but only talk, of further quantitative easing
Ireland's debt gets downgraded; causes more whipsaw action in the euro U.S. trade deficit widens more than expected in May Alcoa (AA) starts earnings season on an underwhelming note |
[BRIEFING.COM] S&P futures vs fair value: -17.80. Nasdaq futures vs fair value: -26.00. Europe's major bourses have fallen precipitously in response to renewed concerns about the fiscal health of countries in the eurozone periphery. Collective weakness across the region has the EuroStoxx 50 down 1.0%. Among the most widely watched bourses, Germany's DAX is down 2.0%. Commerzbank is in the worst shape; it was last quoted with a 6% loss. Merck KGAA has managed to remain in strong shape, though. France's CAC has fallen 2.1%. All 40 of its components are in negative territory. As for Britain's FTSE, it is off by 1.0%. Only International Power Plc, Shire Plc, Tullow Oil, and a handful of its components have been able to muster any kind of a gain. The negativity surrounding the region has also put pressure on the euro, which was recently quoted at $1.405 for a 1.1% loss.
Overnight action in Asia saw plenty of selling. Japan's Nikkei fell to a 0.7% loss. Weakness there was widespread, but Tokyo Electric Power was able to put together an impressive performance that made it the session's top performing stock. Hong Kong's Hang Seng sank to a 1.7% loss. Financials weighed heavily on broad market trade. Bank of China was among the poorest performers. Mainland China's Shanghai Composite managed to muster a 0.2% gain. Inflation data from China during the weekend indicated that consumer prices for June increased by 6.4% from the same period one year ago. That was a tad hotter than many had anticipated. China also reported that a surge in exports took its trade balance up to $22.3 billion in June.
