Dow breaks 7-session losing streak

Dow gains 100 points

Dow Jones industrial average (INDU) was up 108 points, or 1.1%, shortly after the opening bell. The S&P 500 (SPX) rose 12 points, or 1.2%, and the Nasdaq (COMP) composite gained 34 points or, 1.6%.

Economic woes have pummeled stocks in recent months. But with the S&P 500 and Nasdaq nearly 20% off their recent highs, investors appear ready to wade back into the market.

Tuesday is the start of a holiday-shortened week since U.S. financial markets were closed Monday in celebration of Independence Day.

"We're seeing a rally off the strength in European markets today," said David Jones, chief market strategist at IG Markets. "But overall the market is still nervous, and all of last week there were ongoing concerns about how strong the recovery was."

"So even though we're seeing strength right now, we may see it start to run out of steam as the week goes on and investors turn back to worries about growth," he added.

World markets: Stocks around the world rose. In the early going in Europe, the FTSE 100 in Britain, Germany's DAX and France's CAC 40 all rallied more than 2%.

In Asia, the Shanghai Composite soared 1.9%. Hong Kong's Hang Seng index finished the session 1.2% higher and Japan's Nikkei added 0.8%.

Economy: The Institute for Supply Management's services sector index is due to be released at 10 a.m. ET. The index is forecast to have fallen to 55 in June from 55.4 in May. Any reading above 50 indicates expansion in the sector.

Dollar and commodities: The dollar was lower against the euro and the British pound, but up versus the Japanese yen.

U.S. light crude oil for August delivery climbed $1.05 to $73.20 a barrel.

COMEX gold's August contract edged down $4.20 to $1,203.20 per ounce.

Bonds: Treasury prices rose, pushing the yield on the 10-year note down to 2.97% from 2.98% late Friday. Bond prices and yields move in opposite directions. 

STI opens lower

STI lower at midday

Australian PM gets tough on immigration

Gillard vows not to let ‘political correctness’ get in the way

SYDNEY

Ms Gillard, who ruthlessly deposed former leader Kevin Rudd and solved the mining tax row that weakened him a week later, said people should not be called racist for raising concerns about asylumseekers.

“I certainly dismiss labels like intolerant or racist because people raise concerns about border security but we’ve also got to be very alive to the complexity of this andthat there’s no quick fix,” Ms Gillard told the

“There’s a temptation for people to use these labels and names to try and close down debate and I’m very opposed to that. People need to be able to have honest discussions.

“So any sort of political correctness, or niceties that get in the way, I think, need to be swept out of the way.”

The Welsh-born Ms Gillard, whose parents emigrated to Australia in 1966, has made it a top priority to slow the steady flow of asylum-seeker boats that plagued the Rudd government.

She also defended former conservative leader John Howard, whose tough immigration policies were scrapped by Mr Rudd, after he was dubbed a “closet racist” in Indian media over his failed bid to lead world cricket’s governing body.

“The suggestion John Howard should be labelled a racist, what a load of nonsense. He’s most certainly someone who’s not,” she said.

The new Prime Minister is due to make an announcement before a three-month freeze on processing Afghan and Sri Lankan asylumseekers — which was criticised by the United Nations — ends on Thursday.

Foreign Minister Stephen Smith told the

Another boat carrying 34 asylum- seekers was intercepted yesterday, underlining a problem that arouses strong passions in voters and is likely to be a major factor at elections expected within the coming months.

Ms Gillard on Friday announced a compromise deal on the mining tax, which had drawn strong protests from the powerful resources industry and cost Mr Rudd vital support.  — Australia’s new Prime Minister Julia Gillard (picture) yesterday vowed not to let “political correctness” get in the way of tackling immigration, signalling a tough line on the issue.Sunday Telegraph.Ten Network television station that Australia wanted to “work not just with the source countries like Afghanistan and Sri Lanka but also transit countries through our region — Indonesia, Malaysia, Thailand”.afp

Good for you.

I'm moving to Defensive Stocks now.

Will be more aggressive when I see clearer direction.

Good luck to you.

wIthOUT  DEMO,

DEMO-CRACY

cannOt  EXiST

rights crackdown

BAKU

Day, United States Secretary of

State Hillary Clinton is challenging what she

calls a global crackdown on human rights,

lamenting a “steel vise’’ squeezing the life

out social activism.

Ms Clinton arrived in this Caspian Sea nation yesterday after declaring in Poland that intolerant governments around the world are undercutting rights groups whose work is vital to the development of democracy. She said the trend is apparent, and growing worse, even in countries that call themselves DEMO-CRACIES.

Ms Clinton spoke briefly with President Ilham Aliyev at the latter’s residence.

Mr Aliyev wished her a happy Fourth of July and then stressed the urgency of his country’s territorial dispute with neighbouring Armenia. The two nations are in conflict over Nagorno-Karabakh, an enclave in Azerbaijan that has been under control of Armenian troops and ethnic Armenian forces since a 1994 cease-fire.

“This is the major problem for us and the major threat to regional security,” he said.

At an airport news conference later with her Azeri counterpart Elmar Mammadyarov, Ms Clinton said they had discussed at length the territorial dispute.

“The final steps toward peace are often the most difficult, but we believe peace is possible,” Ms Clinton told reporters.

“This is a high priority for the United States,” she added. She said the 1994 ceasefire agreement “must be enforced”.

Following her meeting with Mr Aliyev, Ms Clinton met about a dozen Azeri youth activists, including bloggers, to encourage them to speak out in favour of social change.

She said she raised the issue of freedom of expression in her talks with Mr Aliyev. Ms Clinton said both she and President Barack Obama have received letters about Azeri bloggers imprisoned for their writings. (Azerbaijan) — On America’s IndependenceAP

It is absurd and troubling to spend US$1 billion on three days of meetings under any circumstances (since there are much cheaper ways to have such meetings and much better uses for the money).

***** SKYPE  SUMMIT is  F R E E ********

But it is tragic to spend so much money and then accomplish next to nothing in terms of concrete results and honest accountability.

An iNFAMOUS sOng "GENIUS & IDIOTS" in HONG KONG tells  the TRUTH and the DiFFERENCE between GENIUS and IDIOTS.

GENIUS and IDIOTS are brOthers and SiSTERS and PEERS.

GENIUS and IDIOTS  bOrder On One anOther

GENIUS and IDIOTS  have the SAME MOTIVATION

GENIUS and IDIOTS  have the SAME HUMAN VICES

MERiTOCRARY and MEDiOCRACY bOrder On One anOther

One can find MERiTOCRACY  iN  MEDiOCRACY

One can find MEDiOCRACY  iN  MERiTOCRACY

DON'T  be  MiSled by  MERiTOCRACY as mOre sUperiOR than MEDiOCRACY due tO the Presence of  PETERACY  (The PETER PRiNCiPLE)

GENIUS and IDIOTS are ALL PETERS

At the end of the day, GENIUS cause mOre DAMAGE than the IDIOTS

Ya, you are right.

No one minds.

Are you Buying now?