[July 11, 2011] SmarTrend Midday Market Recap -- July 11, 2011 (DJI,INX,IXIC) Tweet Jul 11, 2011 (SmarTrend(R) Market Commentary via COMTEX) -- Last updated July 11, 2011: 1:00 PM ET --- The major U.S. equity indices are trading lower Monday on continued concerns over a spreading European-debt crisis. Yields on 10-year Italian-government bonds rose about 5%, up 19 basis points. Spanish-government-bond yields also surged. Greece is expected to receive a second financial rescue package that will help the country avoid a default. Lingering disappointment over Friday's jobs report and a deadlock between congressional leaders and President Barack Obama on U.S. borrowing levels also weight on stocks. Oil futures were down 1.4% to $94.80 a barrel, while gold futures rose $5.40 to $1,547.10 an ounce. In corporate news, shares of News Corp. (NASDAQ:NWSA) are down 7.07% at $15.56 as its phone hacking scandal threatened the approval of its proposed takeover of British Sky Broadcasting. The Dow Jones Industrial Average (DJI) is trading 1.23% lower at 12,502.05, the S&P500 (INX) is trading 1.72% lower at 1,320.65, and the Nasdaq Composite (IXIC) is trading 1.93% lower at 2,804.73. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]