in kong hong, hsbc short-listed four to five investment banks to handle its $3 billion ipo.oader market in hong kong closed up 3.7%. also, a ten-month high. shining high stocks ended at a fresh 13-month high, led by metal and coal shares. in australia, mining stocks led a charge. up 1.3%. let me send it over to you, bertha. >> thanks, christine. this is the big week for earnings here in the u.s. we've got six dow components on tap, at least and plenty in the s&p 500. we'll get lots from big tecktitans. microsoft, yahoo! and apple. a number of companies reporting second quarter results include coca-cola, pfizer, foot, caterpillar and ford. as far as economic data, it's light on the calendar, but key data on tap. today we'll get a reading on economic indicators. due out at 10:00 a.m. new york time. later this week, we'll get existing home sales for june, which are expected to have risen about 30,000 from last month. ben bernanke is the big headline. he's going to be heading to capitol hill tomorrow for a semi-annual monetary meeting. that's it it your global stock watch. chris

>> i put bnp in a small group that would include hsbc and bunkasaradar.e organizes that i think are doing extremely well. very well diversified and huge operationses in emerging markets. and that's the key thing is that most of the revenue egz coming in from emerging markets in this particular downturn, you need to focus on those operations. >> now, the area which i regard as most tricky are the swiss banks because they will be deeply uncomfortable. where do you sit on the two companies? >> i would never have suspected that years ago. we've seen a huge change there. secondly, i think they need two large organizations simply because they're wealth managers and that's what they're focusing on. i am, however, concerned about the lawsuit that's going on with ubs because there are hundreds of thousands of american accounts sitting in switzerland. i would suspect at least half of them would go away if they had to disclose the information back to the u.s. government and i'm very concerned about the operations because of that. >> you mentioned hsbc. in my neck of

basically, the naacp has found, based on, you know, plentiful evidence that wells fargo and hsbc seem to have pushed black buyers into subprime loans -- black buyers who needed loans to buy a house were three times as likely as white buyers to get subprime loans across, you know, the same income level and black people who took out second mortgages, you know, to refinance mortgages were six times to be given subprime loans by wells fargo and hsbc than whites of identical qualifications, six times, not double, not triple, quadruple. it's a very extreme disparity here. and the interesting thing is they are now saying we need something like the home mortgage disclosure act and we need information so that we can see how those loan decisions were made, you know? they want to know because wells fargo for one is getting government bailout money, you know, what were they doing, how did it work? they want to know. it's a cycle back again the same issue of, you know, we need some information here on how these things are going because we're seeing a pattern that's really statistically way out, yo

he joined us at the top of the hour and also joining us, our juno mahendran, hsbc private banking, who is celebrating a birthday. happy birthday to you. let's start off talking about this move that we have seen in the markets. and stock traders and analysts. they are saying when you get such a strong july, it often precedents a strong sell-off in the fall. let's start off with you, mr. mahendran. do you think that's the case here? we are getting our gains early here and setting ourselves up for disappointment come august and september? >> yes. i mean, i would agree with that. i think volatility is going to rise as we go into the fall for the simple reason that markets ran ahead of themselves even though the july -- i mean, they've had further evidence of the green shoonts, i guess, from is the strong earnings. clearly the picture that's coming across is the top line growth is stagnant. it's because of cost cutting that profits are rising and they haven't seen that change in that picture of the u.s. economy. clearly, the demand is not there. it's just the exiting fairly stagnant economy

global head of foreign exchange strategy at hsbc. >> coming up next, we will bring you up to speed with the top stories making headlines across the globe. >>> with the u.k. suffering from debt and a shrinking gdp, will london pull it off in time? we'll be live at olympic village to see how preparations are coming along right here on "worldwide exchange." you have questions. who can give you the financial advice you need? where will you find the stability and resources to keep you ahead of this rapidly evolving world? these are tough questions. that's why we brought together two of the most powerful names in the industry. introducing morgan stanley smith barney. here to rethink wealth management. here to answer... your questions. morgan stanley smith barney. a new wealth management firm with over 130 years of experience. right now 1.2 million people are on sprint mobile broadband. 31 are streaming a sales conference from the road. eight are wearing bathrobes. two... less. - 154 people are tracking shipments on a train. - ( train whistles ) 33 are im'ing on a ferry. and 1300 are secretly

frederick newman talking to us live from hsbc in hong kong.et's jump to india, we have the india business report. >> thank you very much for that. very flat in the indian markets. the broader markets are faring better. the mid cap index is showing a gain of 0.41%. some key indexes while flat, the broader markets were outperforming. the big story is that credit policy was announced about two hours back. the key rates are unchanged. the crr is unchanged at about 5%. the government is committed to provide liquidity to stimulate credit growth. they believe the risk to inflation remains but will contain it via monetary policy. that was the key highlights of the credit policy. there was no reaction from the equity market. everyone believed that the policy rates would not be changed. so the equity index markets are still absolutely flat. couple of stocks that are moving quite well. numbers came out yesterday on the operational front, opm is the highest it's recorded in the last five years. that stock surged ahead. real estate as an entire pack is doi

lot of bluechips with the exemption of hsbc eing in the red. now ovovero o ott in the united ates. h the, chloe. ththksks smumu.. hopepe you have a good day toda. itit's a quieie dayininhe u.s. with no d daa to speak . ththers aanandf ofarnings reports. we'll get numbersoday from the lilis s of restaurant ain r ru tuesday, i intnational speedway, the owner andnd operatorff severaral r retetra he in thee . inuding the home of the great american rarace t the daytona 5. >>>>> a a who's who i iin the industry willl descend innowow ththiswewe.. big dealals have e beade in the past. 2006,ofof course, youtubeasa th talk ofofhehe korns, leading to google's buyoutf f th video sharing website. this year t woror is about twteter and whetherhe site will be e lele t make momone ththat y youlolobastock watch, ross. >>> still to come, alcoco i is to r relse its second quarter r sales tomorrow. you have queuestnsns who can give you thehef? where will you find the e stilily and resources to keep you ahead ofof tssr? where will you find thesese e e toh questions.s that's why we b brohthttoget where

hsbc direct. citibank, capital one. also go to bankrate.com to compare interest rates.if you have more questions e-mail me at gerri@cnn.com. >> we love to hear from you, jer roadway. thanks for your time. >>> the chase is over in houston. took about an hour. went along the highway system and ended up north of the city of houston. not far from the airport. not far from a major shopping center in the parking deck of a business complex. that's where the white mini van that was being chased by houston police and several other law enforcement officers finally trailed him into, and he was arrested. there he is. in custody. just outside the houston metro area. a chase that took the better part of an hour and almost cause ad lot of people injuries. high rates of speed has ended. >>> police say they may have a new lead in the killing spree in south carolina. this is a scene from houston a short while ago where police finally corralled chase suspect on the roof of a building, a private commercial building north of houston. and he apparently jumped from one deck to the other and s