A Quick Glance at News

v  Aussie, Mining Stocks Fall After Chinese Data; Oil Drops
v  Asian stocks fell for a fourth day and the Australian dollar weakened as Chinese trade data added to signs of slowing economic growth. Oil slumped as Norway ended an energy strike.
v  Industrial production in France probably dropped 0.3 percent in May from the previous month, when it slid 0.7 percent, according to the median estimate in a Bloomberg News survey before Paris-based national statistics office Insee releases the report today.
v  European Central Bank President Mario Draghi signaled the bank may be open to another interest-rate cut if the economic outlook warrants it, when he addressed lawmakers in Brussels yesterday. The ECB lowered the main refinancing rate to a record 0.75 percent and cut the deposit rate to zero on July 5.
v  European governments will jump-start as much as 100 billion euros ($123 billion) in loans to shore up Spain’s banks and may move the costs off the Spanish government’s balance sheet in an effort to shield the euro region’s fourth-largest economy from the debt crisis.
v  Canada’s dollar fell versus a majority of its most-traded counterparts, dropping to the lowest level in more than a week against its U.S. peer, as risk aversion damped demand.

v  China’s stocks fell, dragging the benchmark index down to a six-month low, after a government report showed imports rose less than anticipated in June while export growth slowed.
v  Oil dropped from the highest close in two days after Norway ended an energy strike that threatened to halt production by western Europe’s largest crude exporter and China curbed purchases of the commodity.
v  Stockpiles fell 1.38 million barrels in the seven days ended July 6, according to the median of eight analyst estimates before an Energy Department report tomorrow.
v  COEUR D'ALENE, Idaho (Reuters) - Three top Federal Reserve policymakers on Monday laid the groundwork for a third round of bond purchases, saying the U.S. recovery was weak and unemployment far too high.
v  Gold prices edged down on Tuesday, pressured by a higher dollar as investors nervous about global economic growth piled into the greenback for safety.
v  Treasuries snapped a three-day gain on concern yields that are approaching record lows will deter fund managers when the U.S. sells $66 billion of debt this week.
v  Alcoa shares gain, AMD slumps after hours, Alcoa Inc. late Monday unofficially kicked off earnings season with quarterly adjusted earnings and revenue above Wall Street’s expectations, while Advanced Micro Devices Inc. shares dropped after the chip maker warned that its quarterly results will fall short of Wall Street’s targets.
v  Intel Corp will spend more than $4 billion to buy up to 15 percent of ASML and bankroll the Dutch company's research into costly next-generation chip making technology, a major vote of confidence in the European firm that sent its U.S. shares soaring 6 percent.
v  Research In Motion Ltd. (RIMM), which has lost 95 percent of its market value since 2008, is selling one of its two business jets under a plan to save $1 billion in operating costs, two people with knowledge of the matter said.