Market Happenings for Monday, June 25, 2012

Premarket, futures are down as Euro doom and gloom weights on the market. Gainers this morning include STZ, WPI, STJ, SNDK and HSY while losers include AN, BMY, CHK, APOL and HP.

The Market

Wall Street awaits a U.S. Supreme Court decision expected Monday or later in the week on the constitutionality of the 2010 Affordable Care Act. There will probably be a big stock-market reaction to the announcement when it comes regardless of the scope of the decision.

European stocks are down in afternoon trading and Asian markets ended lower.

The national average price of gasoline keeps dropping (I Love It!) and fell nine-tenths of cent to $3.411 per gallon. Here in Gig Harbor I paid $3.55 per gallon.

Earnings Reports

Earnings reports (sorted by mkt cap): APOL-Apollo (consensus $0.97), FUL-HB Fuller (0.55).

Financial Calendar

0830 ET Chicago Fed national activity index expected -0.4, Apr 0.11.

1000 ET May new home sales expected +0.9% m/m to 346,000, Apr +3.3% to 343,000.

1030 ET June Dallas Fed manufacturing activity expected -1, May -5.1.

1100 ET USDA weekly grain export inspections.

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

1600 ET USDA Crop Progress

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