*Stocks were generally weak in Asian trade. Shanghai was down almost three percent, Australia lost about one and a half percent, the Nikkei fell 0.8% and the Hang Seng was down about two thirds of a percent. European indexes are mostly lower this morning, but the Footsie and Dax are little changed at the moment. US stock futures are down about three quarters of a percent.*The first hearing for the suspected perpetrator of the mass murder in Norway is underway in Oslo, but is closed to the press.
*Talks in Washington on the debt limit and budget deficit broke down last Friday and could not be revived over the weekend. Both parties are now on separate tracks that don’t appear to intersect.
*The June reading of the Chicago Fed National Activity Index is due out at 7:30am CDT, it is expected to be -0.40; relatively unchanged from the month before.
*The July reading of the Dallas Fed Manufacturing Index is due out at 9:30am CDT, it is expected to improve to -5.2 from -17.5 the month before.
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