Tue, Jul 23, 2013 3:05 PM EDT 1:02
Trading sources said two high-profile oil traders, Pasi Siitonen and Simon Hutchinson, have left Morgan Stanley's European desk as Wall Street banks struggle to retain talent amid increased regulator scrutiny and a decline in revenues. U.S. stock index futures rose, helped by China's efforts to avoid a hard landing for its slowing economy, but gains were likely to be capped as the S&P 500 notched a third consecutive record closing high. The stock market is closing at a record high despite a disappointing quarterly performance from McDonald's.But the price of gold broke above the $1,300 mark for the first time in a month, and gave mining stocks a lift. Gold rose $43.10, or 3 percent, to $1,336 an ounce.