A Quick Glance at News

v Asian stocks rose, with the regional benchmark index headed for a second monthly gain, on speculation the Federal Reserve and the European Central Bank may signal their readiness to stimulate growth amid signs of a global economic slowdown, boosting the earnings outlook for exporters.

v Japan’s Nikkei 225 Stock Average gained 0.7 percent after the nation’s jobless rate dropped in June.

v Hong Kong’s Hang Seng Index rose 0.8 percent while China’s Shanghai Composite Index fell 0.2 percent. Singapore’s Straits Times Index dropped 0.4 percent.

v The Federal Open Market Committee will announce a policy decision tomorrow, and the European Central Bank will convene on Aug. 2. U.S. Treasury Secretary Timothy F. Geithner and German Finance Minister Wolfgang Schaeuble backed a commitment by European leaders to do everything needed to defend the euro area while failing to mention its weakest link, Greece.

v India left interest rates unchanged for a second meeting as it tries to damp the fastest inflation among major emerging nations, while also reducing the amount of deposits banks must hold in government bonds.

v Gold edged up on Tuesday ahead of the U.S. Federal Reserve's policy meeting later in the day, which is expected to shed light on the bank's stance on monetary stimulus, a key factor driving bullion prices.

v The euro edged higher against the dollar on Tuesday but stayed off a recent three-week high, while the Australian dollar hit a four-month high, supported by expectations that major central banks may add more stimulus.

v German Bund futures held steady in early Tuesday trade, as scepticism set in over the European Central Bank's ability to take bold action this week to back up a pledge to lower Spain and Italy's borrowing costs.

v The Reserve Bank of India on Tuesday left its key lending rate unchanged at 8%, but slashed its gross domestic product growth forecast for the current financial year to 6.5% from 7.3% earlier, citing a deterioration in economic conditions.

v Eastman Chemical Co, reported late Monday a second-quarter profit from continuing operations of $1.26 a share, down from $1.51 a share a year ago.

v UBS AG (UBSN), Switzerland’s biggest bank, said second-quarter profit fell 58 percent, missing analysts’ estimates, as the investment banking unit posted a loss.

v Canon Inc. (7751), the world’s biggest camera maker, advanced 5.8 percent in Tokyo on a share buyback plan, pacing gains among information technology shares

v BP Plc (BP/), Europe’s second-biggest oil company, reported a net loss in the second quarter as oil prices dropped and the company wrote down the value of U.S. assets.

v Apple Inc. (AAPL) is preparing to introduce the next version of the iPhone on Sept. 12 in what will be a design overhaul of its top-selling product, according to two people with knowledge of the company’s plans.