EX-GOLDMAN DIRECTOR GUPTA GUILTY OF INSIDER TRADING
A federal jury convicts Rajat Gupta, a former director of Goldman Sachs and Procter & Gamble, of insider trading for passing on confidential information about both companies to a hedge firm that earned millions trading on the tips.
REGULATORS POISED TO RELAX BANKS' LIQUIDITY COVERAGE RATIO
International regulators are poised to ease a core element of new banking rules that were designed to improve the safety of the financial system, according to people familiar with the matter.
SEC PRESSED FACEBOOK FOR MORE INFO BEFORE IPO
The Securities and Exchange Commission reveals that it pressed Facebook for additional information on its revenue related to Zynga well as mobile users, prior to Facebook's initial public offering.
ECB HINTS IT IS READY TO ACT
Top European Central Bank executives suggest they may answer calls to ease monetary conditions in the euro zone, as risks to the financial system intensify.
U.S. STOCKS UP AS POTENTIAL STIMULUS STOKES GAINS
Stocks rise for the second session in a row as speculation that central bankers stand ready to support global markets overshadows more signs of slowing U.S. economic growth. The DJIA is up around 60 points.
OBAMA TO DISCUSS YOUTH IMMIGRATION IMMUNITY
The Obama administration says it wouldn't deport many younger illegal immigrants who came to the U.S. as children, a major shift in the middle of an election season where the Hispanic vote could be pivotal.
U.S. INDUSTRIAL PRODUCTION DIPS 0.1% IN MAY
U.S. industrial production unexpectedly falls, with a slump in manufacturing activity providing another sign of concern for the economic recovery. Capacity use eases to 79.0%; economists expected a 79.2% reading.
SEC NAMES DIRECTOR OF NEW CREDIT-RATINGS OFFICE
U.S. securities regulators appoints a former Morgan Stanley Smith Barney brokerage executive as head of a new office charged with overseeing the credit-ratings firms.
HK EXCHANGES CLINCHES PACT TO BUY LME
Hong Kong Exchanges & Clearing says it has entered into a deal to buy the London Metal Exchange for $2.15 billion, giving the city's stock exchange instant entry into commodities trading amid China's growing appetite for metals.
FORMER ICAHN AIDE TAKES 13.6% STAKE IN NAVISTAR
Investor Mark Rachesky, a former protege of activist investor Carl Icahn, is acquiring a 13.6% stake in Navistar International, making him the truck maker's largest shareholder.
MICROSOFT TO BUY YAMMER FOR MORE THAN $1B
Business-software company Yammer has agreed to sell itself to Microsoft for more than $1 billion, according to a person familiar the matter.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Tiger, Others Chasing Thompson on Day 2 of U.S. Open
Day 2 of the U.S. Open begins with 155 players all chasing leader Michael Thompson, including 14-time major champion Tiger Woods, who will start three strokes behind Thompson and tied with two others.
-- McIlroy Stumbles to 77
-- Donald Is No. 1, But Not at U.S. Open
POINT OF VIEW
Central Bank Hopes Crowd Out Negatives
Both bond and stock markets are up, responding, at least in near-term fashion, to ideas about possible accommodative support from some of the world's central banks and perhaps, in a few cases, government fiscal action, writes Neal Lipschutz.
============ U.S. MARKETS ACTION ===========
DJIA up 72.35 points to 12,724.26
NASDAQ up 21.58 points to 2857.91
S&P 500 up 7.96 points to 1337.06
10-year T-note 101 16/32 at 1.5833 yield
NYMEX Crude up $0.17 at $84.08/bbl
Dollar/Euro up 1.2641 at 0.0068