Morning Market Roundup (8/2/2012)

By Stuart Stelzer Updated Mar 26, 10:47PM EDT · Published Aug 2, 9:39AM EDT

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Subject: The 11 States with the Highest Gas Prices

Did your recent trip to the gas station feel like it took a higher toll than normal on your wallet? It probably wasn’t your imagination. Average gasoline prices in the United States increased by 5.1%, or 17 cents a gallon, during July, according to the AAA July 2012 Monthly Gas Price Report. This was the first monthly increase since March. It was also the highest increase in prices for the month of July since at least 2000 — the first year AAA began recording prices. Here are the 11 states with the highest gas prices.

As always, here are the top major media headline summaries from WSJ, FT, NY Times and more. Today’s top analyst upgrades and downgrades were in shares of ANF, AMGN, MT, BIIB, DVN, DRYS, ERJ, FSLR, GRMN, HSNI, KCG, MCD, MGM, POT, RNR, SBUX and VE. The most important financial news affecting the markets today.

Knight Capital Group Inc.’s (NYSE: KCG) confession is awful after its mini flash crash yesterday. The $440 million in losses could wipe the firm out.

Here are Mario Draghi’s comments after the ECB decided not to cut rates.

Bill Gross of PIMCO is the de facto bond king, but his new August investment outlook is not just talking about low returns in equities. He is talking about the death of real investment returns in traditional investment classes.

Germany’s AAA rating was confirmed by S&P, to some extent because of its austerity plans. That gives it more leverage around the region.

Sony Corp.’s (NYSE: SNE) recovery is dead before it begins.

Evidence has mounted that the July jobs numbers will be poor.

Have a great day!

JON C. OGG

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