Photo: Steve-h on Flickr

Stocks rose tentatively on another day of little news. But first, your scoreboard:Dow: 12,128; +26 pts; +0.22%
NASDAQ: 2,778; +18 pts; +0.66%
S&P 500: 1,285; +7 pts; +0.57%

Here are the day’s top stories:

  • G7 leaders held an emergency phone call, allegedly to discuss the crisis in Europe. However, various statements from finance ministers and sources close to those on the call produced an ambiguous picture of the conversations that took place. The Buzz Is Growing That World Leaders Will Fire Off A Globally Coordinated Bazooka >
  • European markets closed mostly higher, with the French CAC 40 gaining 1.07 per cent and Spain and Italy both higher. The FTSE 100, however, closed down 1.14 per cent. 14 Reasons Spain Is Turning Into A Disaster >
  • May ISM services data beat expectations, with the index rising to 53.7 versus expectations of a slight drop to 53.4. This stands in contrast to the whirlwind of bad data that came out yesterday. The 32 Sexiest, Tastiest, Creepiest And Craziest Economic Indicators In The World >
  • Morgan Stanley agreed to pay a $5 million fine by the U.S. Commodity Futures Trading Commission for unlawful trades it processed through the CME and CBOT. The trades constituted “fictitious sales” and created false prices because they were executed non-competitively and outside of certain rules.
  • TransCanada announced that it had won a contract to build the $3.8 billion Coastal GasLink natural gas pipeline. These 15 Countries Are Sitting On Gigantic Oceans Of Oil >
  • AP reported that a U.S. drone strike succeeded in killing top al Qaeda strategist Abu Yahya al-Libi on Monday. Three strikes over the weekend killed 27 people, some of whom were civilians, during two drone attacks on funeral parties.
  • Shares of Facebook traded below $26 today, as the anti-$FB momentum continues and investors begin to worry about “bad times” in Silicon Valley.  The 15 Stocks That People Are Shorting Like Crazy >
  • BONUS: China Unveils A Knockoff Version Of An Entire Austrian Village >

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