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Jul 8, 2013

Asian Markets Latest News at the time by CNBC; July 08, 2013

Hang Seng Index
  Price   Change %Change
HSI 20582.19 --- UNCH     0%
NIKKEI 14249.91
140.57     1.00%
STI 3164.43
8.96     0.28%

Asian Markets Latest News at the Time; July 08, 2013.

Australia stocks rebound from losses LOS ANGELES (MarketWatch) -- Stocks in Australia climbed Tuesday in early trade, lifted after U.S. stocks rose as investors geared up for the second-quarter earnings season. The S&P/ASX 200 was up 1% at 4,856.70, as banking and retail issues were pushed higher. Shares of Westpac Banking Corp. and Australia & New Zealand Banking Group advanced 1.6% each, while retailers Wesfarmers Ltd. and Woolworths Ltd. rose 1.1% each. Alumina Ltd. was among the miners whose shares rose, tacking on 4% after aluminum producer Alcoa Inc. late Monday posted second-quarter adjusted earnings that topped Wall Street's expectations. Australian stocks on Monday lost 0.7%.

Japan stocks jump after U.S. rally; insurers gain HONG KONG (MarketWatch) -- Japanese stocks rebounded early Tuesday to catch up with an extended rally on Wall Street and after Alcoa Inc. reported better-than-expected results, with real-estate, insurance and automobile shares posting gains. The Nikkei Stock Average climbed 1.3% and the broader Topix index gained 1.4%, recovering the losses they posted Monday, when they reversed strong early gains amid worries over the Chinese economy. Shares of Sumitomo Realty & Development Co. climbed 3%, while Tokio Marine Holdings Inc. advanced 2.7%, aided by a Nikkei newspaper report Japanese insurers were likely to be excluded from new global capital requirements set to take effect in 2016. Hino Motors Ltd. jumped 3.7% after a separate Nikkei report said it was expected to double its group operating profit in the quarter ended June 30. 

Pace of Consumer Borrowing Rose in May: NYT I ALERTS FGC BOLSA - FGC FINANCIAL MARKETS; JULY 08, 2013.



Compiled: July 8, 2013 07:05:39 PM

Pace of Consumer Borrowing Rose in May
The Federal Reserve said Americans spent $19.6 billion more using credit in May than in April, the largest rise since May 2012.

NFA fines Connecticut firm Interactive Brokers $300,000 in settlement of two Complaints: NFA Notifications; July 08, 2013.

CNBC I Latest Stories I Evening brief; July 08, 213.


Diesel engines, pretend dollars, equity returns: The economist New Selected Articles; July 08th, 2013

Monday, July 8th 2013 Editor's picks

A selection of new stories from
Babbage: Difference Engine
Americas view: A fistful of financial instruments
Buttonwood: More on long-term returns
Prospero: Cheap and cheerful
The Economist explains: What caused China's cash crunch?

Difference Engine
Frugal new diesels could drive electrics off the road
Americas view:
A fistful of financial instruments
Argentina's government tries to tempt people to swap their real dollars for fake ones
More on long-term returns
What should investors expect over the long-term from their equity portfolios?
Cheap and cheerful
As Francophiles have Cannes and Paparazzo have Venice, Central and Eastern European cinema connoisseurs have Karlovy Vary
The Economist explains:
What caused China's cash crunch?


Click Here!

U.S. stocks rise for third session: Wall Street at Close Report by MarketWatch; July 08, 2013.

By Kate Gibson, MarketWatch 
NEW YORK (MarketWatch)U.S. stocks gained for a third session on Monday as Wall Street looked to the second-quarter earnings season. 

Alcoa Inc. shares AA +1.41%  rose 1.4%. The aluminum producer and Dow component released its quarterly results after the market close. 
“The early indication is that the rate of change to downward earnings-per-share guidance after companies report second-quarter earnings will be less severe than in prior quarters,” Nick Raich, CEO at the Earnings Scout, wrote in an email. 

He noted that even if estimate reductions come in only slightly more than expected, “there is a great chance both sales and earnings growth will reaccelerate during the second half of 2013.” 

After climbing as much as 126 points, the Dow Jones Industrial Average DJIA +0.59%  ended up 88.85 points, or 0.6%, at 15,224.69, with UnitedHealth Group Inc. UNH +2.10%  leading the rise that included 28 of its 30 members. 

Chip maker Intel Corp. INTC -3.64%  led blue-chip decliners, with its shares down 3.6% following downgrades by a trio of analysts.
The S&P 500 index SPX +0.53%  rose 8.57 points, or 0.5%, to 1,640.46, with utilities pacing gains and telecommunications leading losses among its 10 major sectors. 

“We continue to be stuck in the 1,600 to 1,650 range for the S&P 500. It’s a time to manage risk on individual stocks, especially as we approach earnings season,” noted Elliot Spar, market strategist at Stifel, Nicolaus & Co. 

After briefly erasing gains, the Nasdaq Composite COMP +0.16%  rose 5.45 points, or 0.2%, to end at 3,484.83. 

For every two shares in decline, three gained on the New York Stock Exchange, where nearly 907 million shares traded. 

Composite volume neared 3.4 billion. 

On the New York Mercantile Exchange, oil futures for August delivery CLQ3 -0.24%  broke a four-session streak of gains, falling eight cents to end at $103.14 a barrel, and gold futures for August delivery GCQ3 +1.85%  added $22.20, or 1.8%, to $1,234.9 an ounce. 

The dollar DXY -0.28%  gained against other currencies, and U.S. Treasury yields fell, with the benchmark 10-year-note yield 10_YEAR -4.04%  at 2.64%. 

The combination of a strong U.S. currency and low overseas growth will hurt the international component of earnings, according to David Kelly, chief global strategist at J.P. Morgan Funds. “As usual, however, the focus will be on surprises in current earnings and forward guidance for the rest of the year, both of which could be relatively positive,” Kelly added. 

The S&P 500 climbed 1.6% last week after better-than-expected economic reports curbed worry about a potential reduction in Federal Reserve stimulus. The central bank’s intentions could become more apparent when the Federal Open Market Committee releases minutes from its June meeting Wednesday. 

The June jobs report had employers adding more jobs than projected. Other reports showed jobless claims declining and the manufacturing sector improving. 

Dell Inc. shares DELL +3.11%  gained 3.1% after Institutional Shareholder Services Inc. urged approval of founder Michael Dell’s buyout proposal for the computer company. 

Shares of PCLN +3.91%  rose 3.9% after Morgan Stanley upgraded the stock to overweight. 

In Brussels Monday, European governments agreed to disburse $3.9 billion for Greece, hoping to purchase time in keeping another debt crisis at bay until after German elections are held in September. 

Kate Gibson is a reporter for MarketWatch, based in New York.

Stocks Post 3-Day Win Streak Ahead of Earnings Season; INTC Slumps: Wall Street at Close Report by CNBC; July 08, 2013.

Stocks ended in positive territory for the third-straight session Monday, as investors geared up for the start of the second quarter earnings season, but technology shares declined, weighing on the Nasdaq.

(Read More: Retail Investors Buy the June Dip as Pros Jump Ship)

The Dow Jones Industrial Average jumped 88.85 points, to finish at 15,224.69, led by Wal-Mart and UnitedHealth. The blue-chip index was within 200 points from reaching its record close of 15,409.39.

The S&P 500 climbed 8.57 points, to end at 1,640.46. And the Nasdaq eked out a gain of 5.45 points, to close at 3,484.83. The Russell 2000 finished at a fresh all-time high after closing above 1,000 for the first time last Friday.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended below 15.

Most key S&P sectors closed in positive territory, led by utilities and consumer staples, while telecoms and techs lagged.
 Dow Up 16% YTD Discussing the best market opportunities now, with Jing Ulrich, JPMorgan, and Komal Sri-Kumar, Sri-Kumar Global Strategies. "I think the U.S. Dollar is going to be king," says Sri-Kumar
Aluminum producer Alcoa is slated to post numbers after Wall Street closes. Analysts polled by Reuters forecast the Dow component to post earnings of 6 cents a share for the second quarter of 2013 on revenue of $5.83 billion, down from sales of $5.96 billion a year ago. (Read More: Value Remains in Alcoa's Stock: Pro) "We expect the company to record soft earnings, but most investors will watch out for any cues on its outlook. Aluminum prices are constantly going downhill and demand remains sluggish. Also,aluminum inventory continues to remain high relative to demand, keeping a lid on London Metal Exchange (LME) prices for aluminum," according to research company Trefis in a note. Financial giants JPMorgan and Wells Fargo are scheduled to post earnings later in the week. So far, earnings pre-announcements have been very negative. As of last Friday, the ratio of negative-to-positive corporate comments stood at 6.5 to 1, according to Reuters, more than 2.5 times the normal pace and the most negative reading since 2001. "We're a little more optimistic than the consensus right now, but any way you slice it, it's not going to be a good earnings season," said BTIG chief global strategist Daniel Greenhaus."Guidance is particularly important since you're going to have much less Federal Reserve accommodation." (Read More: Traders Keep One Eye on Earnings, the Other on Bonds) The CNBC Fed Survey, taken right after Friday's jobs report, showed that on average, analysts now forecast the Fed will start scaling back its asset purchasing program in November. An earlier survey, taken a little over two weeks ago, showed the average forecast was for December.
Meanwhile, worries that Friday's upbeat U.S. jobs report could lead the Fed to unwind stimulus measures later this year weighed on Chinese stocks on Monday. The Shanghai Composite fell 2.4 percent to a one-week low, also hit by the news that Beijing will no longer extend credit to sectors that struggle with overcapacity. "Chinese growth is once again being called into question... the market is thinking longer term and how a reduction in credit growth north of $100 billion will impact the economy," said Chris Weston, chief market strategist at IG, in a research note. Dell gained after investment advisory firm ISS recommended the company's shareholders vote in favor a $24.4 billion offer for the PC maker from founder and CEO Michael Dell, saying the $13.65 per share offer provides "certainty of value." Intel slumped to lead the S&P 500 laggards following a bearish note from Citi. Analyst Glen Yeung cut his estimates on Intel and took Qualcomm off the broker's "Top Picks" list. In addition, Evercore lowered its rating on Intel to "underweight" from "equal weight" and cut its price target to $20 from $22. Rival chipmakers Sandisk and Micron also declined. Meanwhile, Internet giant Google climbed back above $900 a share. Shares of Asiana Airlines plunged nearly 6 percent after a Boeing 777 aircraft operated by the airline company crashed on the runway at San Francisco International Airport over the weekend, killing two passengers and injuring 182. On the economic front, consumer credit increased in May by $19.6 billion to $2.8 trillion, the most in a year, according to the Federal Reserve. Economists polled by Reuters had expected consumer credit to rise $12.5 billion.
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter: )

China's Cash Crunch: MoneyShow Investors Daily Alert; July 08, 2013.

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CMI Spot Prices as of close of trading in New York; July 08, 2013.

Spot Prices as of close of trading in New York
Monday, July 08, 2013

OLD $1,236.50 -$17.30 $1,256.90 $1,384.25 $1,579.70
SILVER $19.14 -$0.68 $19.67 $21.79 $26.91
PLATINUM $1,364.70 +$14.10 $1,383.60 $1,505.90 $1,454.90
PALLADIUM $700.00 +$11.20 $690.50 $753.10 $580.70

A Great Directional Tool, Charles Cochran: MoneyShow Traders Daily Alert; July 08, 2013.

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Dispatch From Europe: Learning, or Not, From Policy Mistakes: NYT I ALERTS FGC BOLSA - FGC FINANCIAL MARKETS; JULY 08, 2013.



Compiled: July 8, 2013 12:08:27 PM


Dispatch From Europe: Learning, or Not, From Policy Mistakes
The continued insistence on austerity in Europe flies in the face of increasing evidence that a focus on public debt is hurting economic growth, an economist writes.

Europe stocks cheer U.S. economy, low rates: European Markets at Close Report by MarketWatch; July 08, 2013.

By Sara Sjolin, MarketWatch 
LONDON (MarketWatch)European stock markets rallied on Monday, rebounding after a selloff at the end of last week, as the prospect for continued low rates in Europe and a stronger U.S. economy overshadowed fears of less stimulus from the Federal Reserve. 

Investors awaited U.S. bellwether Alcoa Inc. AA +0.90% to kick off the earnings season later in the day. 

The Stoxx Europe 600 index XX:SXXP +1.41%  rose 1.4% to close at 292.37, after falling 1.3% on Friday. 

Among major movers, shares of Hikma Pharmaceuticals PLC UK:HIK +5.63%  jumped 5.6% in London after the drug maker said it now expects revenue growth around 17% in 2013, up from the 13% previously expected. 

Banks were also among major advancers, with shares of Banco Comercial Português SA PT:BCP +6.90%  rising 6.9%, Royal Bank of Scotland Group PLC UK:RBS +4.37%   RBS +2.76%  up 4.4% and Société Générale SA FR:GLE +2.46%  2.5% higher. 

The broader stock market regained most of the territory it lost on Friday, when a stronger-than-expected jobs report in the U.S. sent stocks lower in Europe on fears of less stimulus from the Federal Reserve. 

Fed Chairman Ben Bernanke has said the central bank could start scaling back its $85-billion-a-month asset-purchase program if data such as new jobs shows the economy is growing as expected. That has left investors worried that less liquidity in the financial system will create market turmoil. 

U.S. stocks were initially also weighed by the data, but closed firmly higher on Friday as optimism over an improving U.S. economy overshadowed the prospects of a reduction in the Fed’s easing program. 

Michael Hewson, senior market analyst at CMC Markets in London, said that European investors on Monday also were convinced that the upbeat jobs report is a positive factor for the equity market. 

“I think we can say that markets are coming around to the idea that Fed tapering is not just a bad thing. It comes with an improvement in economic data and monetary policy will remain accommodative,” he said. 

“But I think we’ll continue to see markets trade in a choppy range until we get some kind of idea when the Fed is going to taper. That’s really what the markets want to know. The estimates range from September to [first quarter] 2014 and that nervousness will make markets extremely choppy. You have to be brave to say markets will see new highs and it will also depend on the earnings season,” he added. 

The International Monetary Fund’s managing director, Christine Lagarde, warned on Sunday that central banks must be careful when they exit expansive monetary policy, according to The Wall Street Journal. Read: IMF takes another swipe at U.S. budget cuts

MarketWatch/William Watts
European stocks rise on Monday.
U.S. stocks rose on Monday, after light trade on Friday on the back of the Fourth of July holiday on Thursday.
After the closing bell on Monday, aluminum giant Alcoa reports quarterly results, signaling the unofficial start of the second-quarter earnings season.
“This certainly has the potential to provide some pace for markets as a whole with investors looking increasingly anxiously at how balance sheets are stacked up, as the era of very cheap money threatens to come to a close,” said Mike McCudden, head of derivatives at Interactive Investor, in a note.

Greek rally

In Greece, the Athex Composite index GR:GD +2.08%  rose 2.1% to 858.40. The country’s “troika” of international lenders — the European Commission, the European Central Bank and the International Monetary Fund — reached a staff-level agreement with the Greek authorities on new economic and financial policies needed to ensure the bailout program remains on track. Euro-zone finance ministers met in the afternoon to discuss Greece’s next tranche of bailout money. Read: Greeks march in protest against bailout job cuts
Meanwhile, European Central Bank President Mario Draghi reiterated his message from last week that interest rates will remain low or go even lower for an extended period of time, according to media reports. 

Germany’s DAX 30 index DX:DAX +2.08%  gained 2.1% to 7,968.54, even as data showed exports slumped in May

Shares of BMW AG DE:BMW +2.12%  gained 2.6% after the car maker said group sales rose by 6% in the first half of the year, while June sales reached an all-time high. 

Other car makers tracked BMW higher, with shares of Volkswagen AG DE:VOW3 +1.08%  up 1.5% and Daimler AG DE:DAI +1.34%  up 2%. 

France’s CAC 40 index FR:PX1 +1.86%  added 1.9% to 3,823.83. Shares of Total SA FR:FP +2.30%  rose 2.3% after a French court acquitted the oil giant and its chief executive Christophe de Margerie of corruption in the Iraq oil-for-food case

The U.K.’s FTSE 100 index UK:UKX +1.17%  gained 1.2% to 6,450.07. BP PLC UK:BP +1.42%   BP +0.34%  climbed 1.4%, as a federal appeals court was set to hear the company’s case that the 2012 settlement in the Deepwater Horizon oil spill has been misinterpreted by administrators

Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

Europe Closes Higher on Upbeat Wall Street Start: European Markets at Close Report by CNBC; July 08, 2013.

European shares posted gains to close higher on Monday, after an upbeat start to Wall Street, and better news from Greece and Portugal.

The pan-European FTSEurofirst 300 Index provisionally closed up 1.4 percent at 1,179.31, as the U.S.'s three-day rally continued.

U.S. stocks climbed on Monday, with major averages on track for their third day higher. The Dow Jones Industrial Average jumped more than 100 points. The blue-chip index is within 200 points of reaching its record close of 15,409.39. The S&P 500 and the Nasdaq also advanced.

Europe opened higher, and was further buoyed from news from Greece and Portugal.
The German DAX and French CAC 40 provisionally closed 2.1 and 1.9 percent higher respectively.
(Read More: One Eye on Earnings, the Other on Bonds)
European Market Closes Higher
European shares posted gains to close higher on Monday, after an upbeat start to Wall Street, and better news from Greece and Portugal.
In Europe, European Commission (EC) officials said they had reached agreement with the Greek authorities on the economic and financial policies the country needs to instigate, in order to receive its next tranche of international loans. Portugal's government made moves to end its political turmoil on Monday, with a cabinet reshuffle agreed by the two coalition partners and the prime minister. Portuguese stocks were 2.25 percent higher on the day. (Read More: PortugalSuffering From 'Austerity Fatigue': Pro) In Asia, stock markets outside of Japan widened their losses after sharp falls in the Shanghai Composite, which slid 2.4 percent to a one-week low. News that Beijing will no longer extend credit to sectors that struggle with overcapacity spooked mainland investors, and led to steep declines in property and banks. (Read More: China Stocks Sink 2.4% on Growth Concerns) In Egypt, 51 people were killed and 435 injured in clashes on Monday, near the Republican Guard headquarters in Cairo, according to a Ministry of Health spokesperson. Egypt's stock exchange closed 3.5 percent down on Monday.

Markets Upbeat on Economy’s Resilience: RTTNews Market Analysis; July 08, 2013.

The major U.S. index futures are pointing to a higher opening on Monday, with sentiment suggesting that traders are upbeat about the economy’s resilience. Hopes concerning the preservation of economic momentum firmed up in the wake of recent strong data points. Meanwhile, across the Atlantic, the markets are advancing strongly despite the release of some weak economic data. The strength apparently stems from stimulus expectations. Domestically, earnings season gets underway, with aluminum maker Alcoa (AA) kick starting the proceedings with its quarterly earnings report after the close of the markets.

U.S. stocks extended their gains in the week ended July 5th, as positive economic data continued to lend support to the markets.

Last Monday, the major averages advanced notably, capitalizing on positive manufacturing and construction spending data. The overbought levels introduced caution on Tuesday, as the major averages retreated modestly despite the release of positive monthly auto sales and better than expected factory orders data.

After languishing below the unchanged line for the bulk of the truncated session on Wednesday, the major averages recovered in late trading, as traders digested another batch of mostly positive economic data. Following the release of a report showing bigger than expected job gains, the averages held mostly above the unchanged line on Friday and closed notably higher.

For the week ended July 5th, the Dow Industrials added 1.52 percent and the S&P 500 Index advanced 1.59 percent, while the Nasdaq Composite outperformed with a 2.2 percent rally.

Among the sector indexes, the NYSE Arca Biotechnology Index, the NYSE Arca Securities Broker/Dealer Index and the KBW Bank Index all gained over 4 percent. Additionally, the Philadelphia Semiconductor Index and the Dow Jones Transportation Average added over 1 percent each.

On the other hand, the NYSE Arca Gold Bugs Index slid 5.35 percent and the Philadelphia Housing Sector Index receded 3.06 percent. The Dow Jones Utility average ended down 1.84 percent.

Currency, Commodity Markets

Crude oil futures are receding $0.94 to $102.28 a barrel after surging up $6.81 or 7.05 percent to $103.22 a barrel in the week ended July 5th.

Last Monday, oil rose close to $1.50-a-barrel in reaction to the positive economic data. The commodity advanced yet again on Tuesday, rising by $1.61-a-barrel, as data continued to suggest a firming recovery trend. After rising moderately on Thursday, oil climbed by close to $2-a-barrel on Friday after the non-farm payrolls report surprised to the upside.

Gold futures, which fell $11 or 0.90 percent to $1,212.70 an ounce in the previous week, are currently rising $20 to $1,232.70 an ounce.

Among currencies, the dollar rose across the board in the week ended July 5th, with the greenback getting ample support from positive U.S. data. The better than expected data has re-ignited worries that the Fed may prematurely wind up its quantitative easing program.

The dollar added 1.39 percent against the euro before ending the week at $1.2829. Additionally, the buck ended the week 2.08 percent higher against the yen at 101.20 yen.

The U.S. dollar is currently trading at 101.10 yen and is valued at $1.2847 versus the euro.


The major Asian markets fell across the board amid fears that the recent string of strong data from the U.S. will prompt the nation’s central bank to withdraw stimulus earlier than anticipated. Meanwhile, the New Zealand market bucked the downtrend with a modest gain.

Japan’s Nikkei 225 average opened higher and moved sideways in the morning before declining in late morning trading. After dropping slightly below the unchanged line in early afternoon trading, the index moved sideways till late afternoon trading. Subsequently, the index declined sharply, ending the session down 200.63 points or 1.40 percent at 14,109.

A majority of stocks declined in the session, with real estate and construction stocks leading the slide. Financial and export stocks also came under selling pressure. On the other hand, heavy machinery makers and paper stocks gained some ground.

Australia’s All Ordinaries, which moved about nervously close to the unchanged line in early trading, fell thereafter and was confined below the unchanged line for the rest of the session. The index closed 28.80 points or 0.60 percent lower at 4,798. Most sectors declined, with the exception of consumer discretionary, energy and telecom stocks. Material stocks were the worst hit.

Hong Kong’s Hang Seng Index closed at 20,632, down 222.79 points or 1.07 percent.

On the economic front, the Bank of Japan reported that lending by Japanese banks rose 2.2 percent year-over-year in June following a 2.1 percent increase in May. A report released by the Ministry of Finance showed that Japan’s current account surplus fell by more than expected in May. The current account surplus fell to 540.7 billion yen in May from a surplus of 750 billion yen for April. Economists had expected a more modest drop to 600 billion yen. The trade deficit came in roughly in line with estimates at 906.7 billion yen.


European stocks opened higher and have legged up further after they declined last Friday, weighed down by weak Germany factory orders data.

In corporate news, U.K. homebuilder Bovis Homes said in its trading update for the six-month period that it has performed well in the first half of 2013. The company said private reservations improved 40 percent year-over-year.

Swiss Re said it expects claims burden of $300 million from the recent flooding in central and Eastern Europe, net of retrocession and before tax.

On the economic front, German exports fell 2.4 percent month-over-month in May, according to a report released by the German Federal Statistical Office. Economists expected a 0.1 percent increase in exports. Imports rose a better than expected 1.7 percent. Consequently, the trade surplus fell to 13.1 billion euros in May from 18 billion euros in April.

German industrial production declined more than expected in May due to notable decline in construction and energy output, according to a report released by the Federal Ministry of Economics and Technology. Industrial output fell 1 percent in May from the previous month, the steepest since October 2012. Economists expected the production to fall 0.5 percent after rising 2 percent in April.

U.S. Economic Reports

The unfolding week’s economic calendar is fairly light both in terms of the quantity and the importance of the economic data. Preliminary results of a consumer sentiment survey by Reuters and the University of Michigan, the jobless claims report, the minutes of the June 18-19th monetary policy meeting and a few Fed speeches, including one from Chairman Ben Bernanke, are among the closely watched events of the week.

The Federal Reserve’s consumer credit report for May, the Commerce Department’s wholesale inventories report for May, the Labor Department reports on producer prices and export and import prices for June, the Treasury budget for June and the results of Treasury auctions of 3-year and 10-year notes and 30-year bonds round up the economic events of the week.

The Federal Reserve is scheduled to release its report on consumer credit at 3 pm ET. Economists expect outstanding consumer credit to have increased by $13 billion in May following a $11.1 billion increase in April.

The $11.1 billion increase in consumer credit in April reflected a $10.3 billion increase in non-revolving credit and a more modest $0.8 billion increase in revolving credit. Revolving credit is usually tied to credit card loans, while non-revolving credit is associated with auto loans.

Stocks in Focus

Dell (DELL) may see some upside after the ISS proxy voting and corporate governance advisory firm recommended shareholders to vote for the proposed cash sale transaction at $13.65 per share.

Alcoa and WD-40 (WDFC) are among the companies due to release their quarterly results after the close of trading.