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Asia rises on German support for ECB bond purchase plan; Europe advances despite poor German factory order data; U.S. futures point upward on European stimulus speculation.
International
Asia
● Asian stock indexes rose again today after Germany supported the ECB’s bond purchasing plan and investors believed that more stimulus would be under way for Europe, the United States and China.
● The Nikkei increased 0.88 percent; KOSPI advanced 0.05 percent; Shanghai Composite rose 0.13 percent; Hang Seng elevated 0.37 percent; S&P/ASX 200 gained 0.44 percent.
Europe
● European stock indexes advanced today even in the midst of weak economic news concerning German factory orders and increases in Spanish and Italian bond yields. Look for movements in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
● Standard Charter, a London-based bank that has operations in New York, was accused of conducting $250 billion in transactions for Iranian banks, and most likely violated U.S. money laundering laws.
Domestic
● U.S. stock futures have advanced, as investors believe an increase in Spanish and Italian bond yields would provide cause for further European stimulus.
Earnings
CVS Caremark
● 2nd Quarter - 8:30 a.m. ET
● Estimated EPS = $0.79
● ETF Movements
○ Not held in a large enough proportion in any ETF.
Express Scripts
● 2nd Quarter - TBD
● Estimated EPS = $0.82
● ETF Movements
○ iShares Dow Jones U.S. Health Care Providers Index Fund (NYSEArca: IHF)
Walt Disney
● 3rd Quarter - 5:00 p.m. ET
● Estimated EPS = $0.93
● ETF Movements
○ Consumer Discretionary Select Sector SPDR (NYSEArca: XLY)
Commodities
All commodities news is as of 7:15 a.m. ET.
Gold and Silver Gained
● Gold advanced 0.26 percent, or $4.15, to $1614.65. Expect increments in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver increased 0.39 percent, or $0.11, to $28. Expect gains in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Elevated
● The September contract for WTI crude oil rose 0.26 percent, or $0.24, to $92.44 per barrel.
● The September contract for Brent crude oil advanced 0.65 percent, or $0.71, to $110.26 per barrel.
● Expect growth in both the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).
Fund Flows
On Monday, August 6, 2012, the top ETF in nominal inflows was the PowerShares QQQ (NasdaqGM: QQQ), with creations of $158.64 million. The top ETF in nominal outflows was the iShares S&P 500 (NYSEArca: IVV), with redemptions of $763.98 million.
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
● ICSC-Goldman Store Sales - 7:45 a.m. ET
● Redbook - 8:55 a.m. ET
● Ben Bernanke Speaks - 2:30 p.m. ET
● Consumer Credit - 3:00 p.m. ET
Americas
● Canada
○ Ivey Purchasing Managers' Index - 10:00 a.m. ET
Europe
● Switzerland
○ Unemployment - 1:45 a.m. ET
○ Consumer Price Index - 3:15 a.m. ET
● Italy
○ Industrial Production - 4:00 a.m. ET
○ GDP - 5:00 a.m. ET
● U.K.
○ Industrial Production - 4:30 a.m. ET
● Germany
○ Manufacturers' Orders - 6:00 a.m. ET
Asia/Pacific
● Australia
○ RBA Announcement - 12:30 a.m. ET
○ Home Loans - 9:30 p.m. ET
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