The Traderszone Network

Investors are looking to earnings reports from U.S. companies to anchor a stock market that has been tossed around by the crisis in Greece and the prospect of higher interest rates. Earnings season kicks off this week s AA reports.  The bar on earnings is so low this quarter it wont take much to beat.

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As bitcoin struggles to gain mass appeal, advocates of the digital currency are turning to a new audience to promote adoption: the global unbanked.

While Greece’s fate within the eurozone remains uncertain, many analysts agree that the tipping point will come if and when Europe’s central bank turns off the funding taps.
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European stock and bond markets are set to take a sharp hit on Monday after Greece voted ‘No’ to harsh bailout conditions, and bankers said the European Central Bank’s response was now key to the extent of contagion. Many economists, including those at U.S. banking giant JPMorgan, reckon the outcome of Sunday’s referendum will probably hasten Greece’s exit from the euro. “Although the situation is fluid, at this point Greek exit from the euro appears more likely than not,” JPMorgan’s Malcolm Barr told clients on Sunday evening, adding ‘Grexit’ was now the bank’s “base case”.

Shares of Chipotle Mexican Grill Inc (CMG.N) have lost some of their luster recently and unless growth revives at the company, the stock could see a 15 percent to 20 percent plunge, the July 6 edition of Barron’s said. Chipotle’s stock could drop below $500 a share after the burrito chain reported revenue slightly below expectations in April and said the removal of pork from one-third of its restaurants would hurt sales this year, Barron’s said. Rising food costs, along with rising healthcare and other costs, are crimping Chipotle, it said.

Dismayed by the millions of unsold homes in China’s troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing.    Like a white knight riding to the rescue of distressed developers, a handful of local governments are snapping up thousands of empty homes at hefty discounts and re-selling them to the country’s poorest households.     This cannot be a cure-all for China’s huge supply overhang.

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Futures are sharply lower after the Greek vote, and CNBC will have live coverage of the aftermath tonight at 8 p.m. ET.