* MARKET THEMES FOR MONDAY - Toward the bottom of the broad trading range defined by June's highs and lows, we followed the scenario laid out in the morning and picked up some support after early weakness, holding that strength following late negative news. Weak oil, gold; U.S. dollar off its early highs; 10-year Treasury rates off their early highs; consumer staples issues strong; small caps, tech weak. Detailed market and news wrap here.
* OVERNIGHT/OVERSEAS NUMBERS - 1:45 AM CT - France, foreign trade; 3:30 AM CT - UK, industrial production; 5 AM CT - Germany, manufacturing orders; 7:30 AM CT - Canada, building permits.
* WORTH READING:
-- Thought provoking article on whether we're more likely to see deflation or inflation;
-- A look at risks faced by the ECB;
-- The case for buying options volatility, single state ETFs, and more good reading.
-- Why inflation may be on the horizon as a significant risk;
-- Major averages looking for support levels;
-- Further developments in the most unusual trading/espionage case;
-- Thoughts on ratings agencies and implicit economic forecasts.