Pages

Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Monday, July 8, 2013

10 Things You Need To Know Before The Opening Bell (DIA, SPY, QQQ, GLD, USO)

andy murray wimbledon

Good morning! Here's what you need to know:

  • Asian markets fell Monday. The Nikkei declined by -1.4%, the Shanghai index was off by -2.4%, and Australia's ASX 200 lost -0.6%. European indexes were unaffected, however, with the DAX up more than 2% and France's CAC gaining at least 1.9%.
  • US stock futures are pointing higher. S&P500 futures were 10 points higher, while Dow futures had gained 79 points.  The dollar index hit a three-year high, briefly ticking 84.588 before falling back a tenth of a point.  The 10-year yield was lower at 2.70%.
  • Early commodities trading saw gold gaining 1.4% and natural gas futures up 1.4%. Oil was lower.
  • It's a pretty quiet day data-wise. The Federal Reserve will release consumer credit data for May at 3 pm today. The marquee event for the week will be Ben Bernanke's address to the NBER in Boston on Wednesday at 4:10. The speech is called "The First 100 Years of the Federal Reserve: The Policy Record, Lessons Learned, and Prospects for the Future,” and there's going to be a Q&A, but he could talk about anything, including his future and his thoughts concerning market overreaction to statements made last month.
  • Alcoa will announce earnings after the closing bell. EPS is estimated at $0.07 for the period ending June 20. JPMorgan and Wells Fargo report earnings Friday.
  • Greece's international creditors said the country's economic outlook remains "uncertain" while announcing a conditional agreement that will further scale back its public service sector. Eurogroup finance ministers will meet Monday evening to review the agreement.
  • The New York Times reported former New York Governor Eliot Spitzer has announced he will run for New York  City comptroller. The position entails monitoring city spending and performance. He faces only one real challenger, Manhattan borough president Scott Stringer.
  • The Wall Street Journal says the secret Foreign Intelligence Surveillance Court sometime in the mid-2000s began giving a massively expansive new reading of a single word, "relevant," that granted the NSA far greater power to collect and store US communications data. From WSJ: "'Relevant' has long been a broad standard, but the way the court is interpreting it, to mean, in effect, 'everything,' is new, says Mark Eckenwiler, a senior counsel at Perkins Coie LLP who, until December, was the Justice Department's primary authority on federal criminal surveillance law."
  • At least 42 people were killed at a rally in support of ousted Egyptian President Mohamed Morsi. The Muslim Brotherhood is now calling for "an uprising" against those who would "steal the revolution."
  • Scotland's Andy Murray become the first British man to win Wimbledon in 77 years Sunday. Queen Elizabeth was just 10 when this happened. He defeated Serbia's Novak Djokovic in straight sets. 

Join the conversation about this story »

    



READ THE ORIGINAL POST AT www.businessinsider.com