Quick Overview

• Intel reported the best quarter in its history. (FT)

• QoQ Singapre's GDP expanded at a 26% annual pace

• China's leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favor of the West.

• The Chinese government said it will “strictly enforce” policies enacted to quash real estate speculation -- driving developers and lenders lower.

• U.S. Earnings season starts with strong Alcoa, CSX results. The companies had nothing but good things to say, making it harder to find evidence of this double-dip recession.

• U.S. trade gap unexpectedly widens to $42.3 billion in May, up from $40.3 billion in April

• (Bloomberg) Rubber tumbled for a third day to the lowest level in more than a month on concern that slower car sales growth in China may signal weaker demand, while supplies from Thailand increased.

• (Bloomberg) China, the world’s biggest consumer of vegetable oils, may import about 200,000 metric tons of soybean oil each month from July to September, the portal Grain.gov.cn said in an e-mailed report.

• Japanese consumer confidence improved to 43.5 in June from 42.8 in May, the highest level since September 2007.

• The chief executive of the world's biggest copper producing company, Codelco, says he expects to see continued demand for the metal from China to fuel the country's industrial boom

• (Reuters) - U.S. researchers have created a primitive artificial lung that rats used to breathe for several hours and said on Tuesday it may be a step in the development of new organs grown from a patient's own cells.