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The market got a boost into the close yesterday as sources began talking to news distributors about a coordinated central bank move to shore up the system should the outcome in Greece be negative for markets. We knew they would not turn their backs on investors, but the confirmation never hurts. This weekend is the big vote for Greece and we should know by Sunday afternoon here in the US what the outcome of the vote is.

We have a bit of economic news coming out today with the Empire Manufacturing (Consensus 13.5), Net Long-Term TIC Flows, Industrial Production (Consensus 0.1%), Capacity Utilization (Consensus 79.1%) and the Michigan Sentiment (Consensus 77.0). These numbers definitely have the ability to move markets, and we will watch them closely, but news out of Europe will be the real market mover today and Monday.

Looking at Asian markets we see markets are higher:

All Ordinaries - up 0.42%

Shanghai Composite - up 0.47%

Nikkei 225 - up 0.01%

NZSE 50 - up 0.91%

Seoul Composite - down 0.71%

In Europe markets are higher:

CAC 40 - up 1.42%

DAX - up 1.04%

FTSE 100 - up 0.67%

OSE - up 1.79%

Technology

Facebook (NASDAQ:FB) had an impressive day yesterday rising $1.02 (3.74%) to close at $28.29/share on volume of 16.8 million. Volume was weak, but it has been weak across the board - it is the summer after all. The intraday chart looked quite strong, with the price action having moved from the lower left to the upper right with a nice spike into the close. The shares finished just off of their highs for the day. This one has been a big loser, but with the recent agreement we think that the shares may have put in a bottom, at least for the short-term.

Sirius XM (NASDAQ:SIRI) closed at $1.855/share having risen $0.03 (1.64%) on volume of 32.8 million shares. The shares continue to be range-bound as it has been stuck between $1.83ish and $1.89/share. It is quite possible that the stock is building a base and consolidating for a move that should be strong, but to which way? As we stated already this week, we do not know which way it is going, and if we did we would be involved. We do think that there is a good chance to see a run up to $2/share again, but a move below the $1.83 level might cause the bottom to fall out.

Investors saw International Game Technology (NYSE:IGT) rise sharply after the company announced a buyback plan of $1 billion. They will buy back Goldman shares which will equal 40% of that amount. The company's shares closed at $15.12/share having risen $1.90 (14.37%) on volume of 17.2 million shares. The shares rose throughout the day, and closed just off of the high for the day. We are not sure yet, but this could be a sign that the company has turned a corner in their reinvention and will get back to their roots of returning money to shareholders.

Biotechnology

Dendreon (NASDAQ:DNDN) rose $0.44 (6.19%) to close at $7.55/share on extremely high volume of 20.3 million shares. Marketwatch reported, via the Seattle Times, that the company secured a partner to market Provenge in Europe. The company did not make an announcement, but this would be a positive as it opens up another large market for the company's key drug. The stock's winning streak continued, but it will be interesting to see how it behaves on Friday as it may very well indicate just how serious investors are about holding this longer-term

Chemicals

Huntsman (NYSE:HUN) rose $1.10 (9.23%) to close at $12.96/share on volume of 22.4 million shares. This was pretty interesting as in the middle of trading we saw rumors about the company surfaced. It seems that Bank of America is shopping the company to private equity shops and that is what set shares off after lunch. It was a big day and it will be interesting to see how this one plays out. We would not try to play the buyout game here, if you were in the shares great, but no need to chase them to get in as these talks may lead to nothing.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Today's Market News To Trade On: 5 Stocks Moving On News