A Quick Glance at News

v  Copper rallied from a three-week low while oil rebounded and Asian stocks pared losses as the outlook for China’s manufacturing improved. The yen strengthened on concern Europe’s debt crisis is worsening.
v  A preliminary reading of manufacturing in China was 49.5 in July, up from 48.2 in June and on course to be the highest since February, according to a purchasing manager’s index compiled by HSBC Holdings Plc and Markit Economics.
v  Asian shares inched higher on Tuesday, helped by improving Chinese manufacturing data, but the euro remained under pressure as surging Spanish borrowing costs stoked fears that the euro zone's fourth-largest economy will be forced to seek a bailout.

v  The euro traded near an 11-year low against the yen before Spain and Italy auction debt.
v  Apple Inc. (AAPL), the world’s largest company by market value, and United Parcel Service Inc., the world’s biggest package- delivery company, report results today.
v  Moody’s Investors Service yesterday lowered the Aaa rating outlooks for Germany, the Netherlands and Luxembourg to negative on “rising uncertainty” about the fiscal crisis. Greece’s creditors meet today amid skepticism that the country will attain its bailout targets.
v  Oil rebounded from the lowest close in a week in New York after a Chinese manufacturing index signaled an economic slowdown may be easing in the world’s second-largest crude user.
v  Gold held steady on Tuesday above a 1-1/2 week low near $1,560 an ounce hit in the previous session, although deepening worries on the euro zone debt crisis kept prices under pressure.
v  Reserve Bank of Australia governor Glenn Stevens indicated in a speech Tuesday that he expected the Australian dollar would act as a shock absorber if Europe's troubles worsen or the Chinese economy slumps.

v  U.S. 10-year Treasuries edged higher in Asia on Tuesday after Moody's revised its outlook for Germany, the Netherlands and Luxembourg to negative, although the resilience of U.S. equities futures helped to limit their gains
v  Corn and soybeans fell for a second day on concern Europe’s crisis and record prices fueled by a U.S. drought will hurt demand. Wheat in Chicago slumped 1.9 percent to $8.9550 a bushel. There is a chance of some significant rainfall in the northern and eastern areas of the Corn Belt in the middle of this week, Telvent DTN Inc., said in a report yesterday.
v  Volvo AB (VOLVB), the world’s second-largest truck maker, reported second-quarter operating profit that beat analysts’ estimates after selling more-expensive vehicles
v  Baidu Inc. (BIDU), owner of China’s most- used search-engine, will consider making acquisitions as the company aims to offer new services to users at a faster pace, Chief Executive Officer Robin Li said
v  McDonald's Corp., fast-food major, reported second-quarter net income fell 4.5% on revenue little changed from a year earlier.

v  Coca-Cola Enterprises Inc.said Monday its second-quarter profit dropped to $205 million or 67 cents a share, from $246 million, or 74 cents a share, in the year-ago period.
v  Halliburton Co. said Monday its first-quarter profit rose to $737 million, or 79 cents a share, from $627 million, or 68 cents a share, in the year-ago period. Adjusted second-quarter profit totaled 80 cents a share. Revenue increased to $7.23 billion from $5.94 billion.