“I think the expectations right now of the euro summit producing a set of announcements that can restore confidence in the euro zone, the periphery and help risk rally is quite low. And I think euro zone officials deliberately play down any speculation of significant news out of their summit,” Gilmore said. “We’re prepared for a pretty blasé nineteenth EU summit since the crisis began. And we’ll be looking forward to the twentieth.”
Stocks Tuesday finished higher , with the Dow up 32 at 12,534 and the S&P 500 up 6 at 1319. The Dow is down about 5 percent for the second quarter, but it is still up 2.6 percent for the year, while the S&P is down 6.3 percent for the quarter and up 5 percent for the year. The Nasdaq is up 9.6 percent for the year but down 7.7 percent for the quarter.
Nymex crude was slightly higher in late trading at $79.55, up 0.19, after American Petroleum Institute data showed stockpiles rose by 507,000 barrels. Analysts expected a 500,000 barrel decline. Grains again attracted interest, as weather forecasts for the Midwest continued to show heat and no rain. Corn was up 5 percent .Page 2 of 4 | Prev Page | Next Page