A Quick Glance at News

v  Asian shares extended their gains on Monday, supported by expectations the Federal Reserve and the European Central Bank will deliver new measures to underpin their fragile economies, but the euro fell as caution kept a firm cap.

v  Crude prices steadied above $90 a barrel on Monday, as hopes for more stimulus from the United States balanced pressure from the lingering euro debt crisis.

v  U.S. economic growth slowed in the second quarter as consumers in the world's top oil user spent at their slowest pace in a year, increasing pressure on the Federal Reserve to do more to bolster the recovery.

v  German Chancellor Angela Merkel and French President Francois Hollande pledged on Friday to do all in their power to protect the euro after discussing the latest events in the debt crisis by telephone

v  Spain has at last conceded it may need a state bailout and policymakers are considering writing down Greek debt to their central banks, European officials said on Friday, as markets anticipated radical new action to pull the continent out of its debt maelstrom.

v  Japan’s industrial production unexpectedly declined and South Korean manufacturers’ confidence dropped to a three-year low, building the case for extra monetary and fiscal measures to aid growth.

v  The White House cut its outlook for U.S. growth in 2012 and 2013 on Friday, hours after data showed the economy grew at a tepid pace in the second quarter, raising concerns about a slowdown that could mar President Barack Obama's re-election chances.

v  Japan's Nikkei share average rose to a one-week high on Monday, powered by growing expectations that the U.S. Federal Reserve and the European Central Bank may implement further stimulus measures.

v  Two central bank officials said ECB President Mario Draghi will hold talks with Bundesbank President Jens Weidmann to overcome the biggest stumbling block to new measures including bond purchases. The ECB is scheduled to meet on Aug. 2.

v  Gold held steady above $1,620 per ounce on Monday, as investors wait for the central banks on both sides of the Atlantic to give clearer cues on the potential for further monetary stimulus.

v  U.S. Treasuries firmed in Asia on Monday on a small fall in U.S. stock futures, with 10-year yields slipping further from a three-week high late last week, as market players awaited this week's monetary policy meetings in Europe and the United States.

v  Shares of Merck rose 3% in early trading Friday after the pharmaceutical titan posted better-than-expected second-quarter earnings.

v  Gains from Amazon.com Inc. and losses from Facebook Inc. highlighted action in the tech sector Friday. Amazon shares rose 5% to $232 following the online retailer's second-quarter earnings results. Facebook shares, however, slumped almost 17% to $22.29 after the social-media giant on Thursday gave an in-line quarterly report, but offered no forecasts for its current business quarter.