Market Happenings for Monday, June 11, 2012

The Dow is up this morning on news of the Spain aid deal. Gainers this morning include DF, PGN, NVDA, TRIP and THC while losers include IGT, CVH, FRX, AEE and SYMC.

The Market

Over the weekend, Spain asked for €100 billion ($125 billion) from the other members of the eurozone for help to recapitalize its banking system, and the group responded favorably to the request.

Also over the weekend, China reported record exports, at $181.1 billion, and imports, at $162.4 billion, which gave it a bigger-than-expected trade surplus.

JPMorgan Chase (JPM) shares are up 1%, extending a 2.7% gain logged during market hours Friday. The bank’s CEO, Jamie Dimon, will appear in front of the Senate Banking Committee on Wednesday to answer questions about the company’s $2 billion loss.

European stocks rose in afternoon trading and Asian markets ended higher.

The national average price of gasoline is down two-tenths of a cent to $3.540 per gallon.

Walt Disney (DIS), Verizon (VZ) and Wal-Mart (WMT) are all hitting new 52 week highs this morning.

Earnings Reports

Earnings reports: FNSR-Finisar (consensus $0.21).

Financial Calendar

1100 ET USDA weekly grain export inspections.

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

1200 ET Fed’s Lockhart speaks on U.S. economy in Chicago.

1600 ET USDA Crop Progress.

1800 ET Fed’s Pianalto speaks on improving educational attainment.

2015 ET Fed’s Evans speaks on U.S. economy in Chicago.

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