Financial Breakfast: Morning News Summary for July 3, 2012

Benzinga's Top News

Suntech STP and IBC SOLAR Announce 50MW Sales Agreement Through end of 2012

M*Modal MODL to Be Acquired for Approximately $1.1B by One Equity Partners

Domestic Pre-Market Trading

• U.S. Equity Markets trade down as Dow futures trade lower about 5 points.
• U.S. Dollar trades about 0.02% higher.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 0.29%, Germany's DAX advanced 0.59% and France's CAC 40 added 0.19% on the session.
• Asian stocks ended the session higher as well. China's Shanghai gained 0.14%, Japan's Nikkei 225 added 0.70%, and the Hong Kong's Hang Seng Market advanced 1.51%.

Upgrades/Downgrades

• Citigroup Upgrades Eastman Chemical EMN from Neutral to Buy, Raises PT from $46 to $57

• Wunderlich Securities Downgrades Sandridge Mississippian Trust SDT from Hold to Sell, Lowers PT from $27 to $23

On the Economic Calendar

• 08:55 a.m. ET - Redbook (MoM)
• 09:45 - New York NAPM
• 10:00 - Factory Orders (MoM)
• 11:30 - 4-Week Bill Auction

Earnings

No Major Earnings Today

Corporate News

• Suntech STP and IBC SOLAR Announce 50MW Sales Agreement Through end of 2012
• M*Modal MODL to Be Acquired for Approximately $1.1B by One Equity Partners

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.74%
• Energy futures are trading higher, with crude oil posting early gains of about 2.63%
• Natural Gas futures are trading 0.53% lower and copper is trading higher by about 1.84%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini S&P 500	1368	1361	1355	1348	1342
Gold	1612	1605	1596	1588	1580
Crude	85.71	84.67	83.39	82.35	81.07
Natural Gas	2.92	2.88	2.81	2.76	2.69
EUR/USD	1.2705	1.2645	1.2606	1.2545	1.2507
US Dollar Index	82.34	82.15	81.90	81.71	81.46

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