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US mkts flat; Nasdaq end in green for 11th day
The Nasdaq Composite ended in the green for 11th day, longest stretch since 1996; it was helped by Apple, which rallied 3.5% post good results.
US Economic News
Mortgage applications were up 2.8% last week.
Average home prices rose 0.9% in May from April, against estimate drop of 0.2%.
Global News
Grupo Mexico fell 2%. Its 2Q net profit was down 47.3% at $238.2 million and sales down 40% at $1.06 billion due to lower copper prices.
BBMG Corp, Chinese cement company raised $768 million in the 2nd-biggest Hong Kong IPO.
Bristol-Myers Squibb is going to buy Medarex for about $2.4 billion, 90% premium over yesterday's closing price.
Japan's exports declined 35.7% in June after dropping 40.9% in May.
Commodities
Crude declined 0.3% to $65.4/bbl after crude supplies fell by 1.8 million barrels.
Baltic Dry Index was down 1.5%, bringing its 3-day decline to 4%.
Gold was up 0.7% to $953.3 an ounce.
Copper gained 2% to settle above $5500/tonne, at 9-month highs.
Aluminium was up 10% in 2 weeks.
Currencies
Dollar Index declined 0.5% to 7 week lows versus Euro.
USD was down 23 bps versus Euro at 1.422.
Yen depreciated 60 bps versus USD at 94.127.
Data to Watch
US Jobless Claims
US Existing Home Sales
Fed meeting on Home Loan rules
Results: Amazon.com, American Express, AT&T, Fifth Third Bancorp, Ford Motor, McDonald's, Microsoft, Bristol-Myers Squibb, Ford, Xerox
