News Today

• Seattle-based Microsoft founder Bill Gates — and second richest man in the world — remarkably, doesn't own an excess of properties. Previously, when his horse-loving daughter competed in Florida, the multi-billionaire rented homes for his family rather than buying.
• As the political standoff plays out in Egypt, the economic backdrop has deteriorated rapidly. "The IMF deal is dead in the water," BBH analysts say.
• Crude Oil (WTI) is testing the 2013 highs near $99.00 – A daily close above could see a test the Sept. 2012 high around $100.40
•  The Federal Reserve on Tuesday outlined a multipronged plan to place the nation's largest banks under increasingly stringent capital requirements to guard the financial system from risks posed by "too big to fail" companies.
• China’s stocks fell for the first time in four days, led by financial and industrial companies, as growth in services industries slowed and investors speculated initial public offerings will resume this quarter.
• Stocks fell  led by Portugal as the nation’s 10-year bond yield surpassed 8 percent for the first time since November after two ministers quit the government. Crude oil rose above $100 a barrel while the euro weakened and the yen strengthened.
• U.S. INITIAL JOBLESS CLAIMS FELL 5,000 LAST WEEK TO 343,000
• GOLD sees the 200-hour sma come in around 1252 as a level of potential resistance
• ISM non-manufacturing index falls to 52.2 vs. exp 54.0 and prior 53.7
• U.S. JUNE ISM NON-FACTORY EMPLOYMENT INDEX 54.7 AFTER 50.1
• Jobless claims decreased by 5,000 to 343,000 in the week ended June 29