U.S. stocks open moderately higher, setting stage for first advances in four days and extending gains booked in parts of Europe and Asia, as investors temporarily shrug off concerns about European debt.
• Gold still on a tear | Oil pulls back toward $97 | Miners, autos lift Europe | China data lift Asia stocks
• Focus stocks: Kinetic Concepts, Capital One | Peter Maris: Could Europe happen here?
• Gold still on a tear | Oil pulls back toward $97 | Miners, autos lift Europe | China data lift Asia stocks
• Focus stocks: Kinetic Concepts, Capital One | Peter Maris: Could Europe happen here?
GLOBAL ECONOMY
Reuters
ReutersChina growth cools a bit
Gross domestic product expands at a faster-than-expected rate of 9.5% in the second quarter — to the relief of analysts who now see any economic slowdown as less severe than many had feared.
• Why China's GDP as important as CPI (First Take)
• China unable to sell out local bonds (Caixin)
• China Telecom: Talks ongoing on iPhone rollout
• Macquarie decries China ‘witch hunt’
EUROPEAN HIGHLIGHTS
• Retail-level inflation slows in Spain, data show
• Stress-test trouble for pair of Spanish banks?
• German banks all seen passing stress test
Why there won't be a default
Kurt Brouwer has a FAQ on what you should know if the debt-ceiling limit isn't raised (blog).
• Republicans, Obama continue debt wrangling
• Obama-Republican spat is over future taxes
• Businesses step up pressure for debt deal
• No debt-limit deal? Your investments plummet
• Austerity pains loom for the middle class
MEDIA
News Corp. waves white flag on BSkyB deal
Executive says takeover was "compelling" but proved too challenging "in this climate."
• Citi calls News Corp. stock a 'top pick'
Emerging, stable, democratic, safe
Investors face considerably less political risk in emerging, stable democracies than they think, writes Matthew Lynn.
• Hulbert: Stock sentiment in wake of correction
• Short sellers preying on the weak (24/7 Wall St.)
• Fantasy Earnings Trader: Get in the game now!
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