Good morning Folks,
Looks as though we are getting a nice bounce premarket even though Greece is on the verge of default.
After a dramatic drop in the indexes its not a surprise that we are flashing a bit of green premarket. Gap up days are typically my most challenging days so be very careful about jumping in too soon. Greece and Puerto Rico are still problems that need to be addressed and we did some pretty significant technical damage yesterday. Scalps and quick day trades can work but be very selective with your entries.
Stocks on my Radar premarket
BWEN CGIX ANY LBIO TBPH AMCN SGNL BCRX MGM, RADA
CNBC in the news
 | IN THE NEWS TODAY |
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| U.S. stock futures were indicating a strong rebound this morning, following the worst day of the year on Wall Street-even though the Greek crisis, seen as the culpritMonday, does not appear to be near resolution. (CNBC) |
| The snapback does not appear nearly enough to make up for Monday's decline, and at this point, only the Nasdaq is on pace to complete a positive second quarter, which ends today. (CNBC) |
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| Greece is widely expected to miss a $1.8 billion debtpayment to the IMF today-before the country's bailout officially ends at midnight and after a last-minute offer from the European Commission. (CNBC) |
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| The EC offer requires Greek Prime Minister Alexis Tsiprasto encourage voters in Sunday's national referendum to support the reforms-for-aid conditions imposed by creditors. (Reuters) |
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| With capital controls and long lines at ATMs, Greek banks remain closed. The system, kept afloat by emergency liquidity assistance from the ECB, is up for review tomorrow. | Live blog (CNBC) |
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| Standard & Poor's has lowered its rating on Puerto Rico to CCC-minus from CCC-plus with a negative outlook, as the governor of the commonwealth seeks to restructure the debt under U.S. bankruptcy code. (Reuters) |
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| Competing with the likes of Spotify and Pandora (P), thenew streaming music service from Apple (AAPL) makes its debut today. It costs $9.99 a month for full access to the iTunes library. (USA Today) |
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| Microsoft (MSFT) is exiting the display advertisingbusiness, letting AOL (AOL) sell ads on its websites and apps, while selling map technology to ride-hailing service Uber. (Reuters) |
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| General Motors (GM) said a shareholder lawsuit related to its ignition switch recalls has been dismissed. The suitaccused GM directors of breaching their duties by failing to oversee company operations. (Reuters) |
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| BY THE NUMBERS |
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| Investors get several economic reports to consider today, beginning at 9 a.m. ET with the April Case-Shiller report on home prices, expected to show a 5.6 percent increase over a year earlier, compared to a 5 percent rise in March. |
| At 9:45 a.m. ET, the Chicago purchasing managers index is expected to rise to 50.0 for June, the point that differentiates growth from contraction. That would be up from 46.2 last month. |
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| At 10 a.m. ET, the Conference Board's consumer confidence index is seen rising to 97.5 for June from 95.4 in May. |
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| Food producer ConAgra (CAG) is among the small group of companies out with earnings this morning. There are no major companies scheduled to release quarterly numbers after today's closing bell. |
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| The CEO of Qualcomm (QCOM) said the company hasno present plans to spin off its chip business from its patent-licensing unit, as activist hedge fund Jana Partners has suggested. Jana has called the chip business "essentially worthless." |
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| STOCKS TO WATCH |
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| Insurance broker Willis Group has agreed with financial management services provider Towers Watson (TW) to combine the companies in an all-stock deal with an implied equity value of about $18 billion. |
| Sony (SNE) plans to raise almost $4 billion through the sale of new stock shares and debt. The company will invest the money into its growing image sensors business. |
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| Juno Therapeutics (JUNO) is among our stocks to watch this morning, after Celgene (CELG) said it would invest about $1 billion in Juno. The two will form a partnership to develop treatments for cancer and autoimmune diseases. |
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| AT&T (T) and DirecTV (DTV) have extended the "termination date" of their planned merger deal a second time, as the two companies continue to work toward regulatory approval. |
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Seeking Alpha
Today's Markets:
In Asia, Japan +0.6% to 20236. Hong Kong +1.1% to 26250. China +5.6% to 4278. India +0.5% to 27781.
In Europe, at midday, London -0.4%. Paris +0.1%. Frankfurt +0.1%.
Futures at 6:20: Dow +0.6%. S&P +0.7%. Nasdaq +0.6%. Crude +0.6% to $58.69. Gold -0.6% to $1171.70.
Ten-year Treasury Yield +2 bps to 2.35%
Notable earnings before today's open: CAG, OMN, SCHN
Notable earnings after today's close: AVAV, CAMP
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