Continued testing will determine if the new cap on the oil geyser in the Gulf will hold, possibly stopping the flow. The Obama administration is issuing a new offshore drilling moratorium on all offshore activities regardless of depth. Israel's internal investigation of the May 31 flotilla raid found that "mistakes we made" but that Israeli commandos acted appropriately. Alcoa's good earnings numbers led off the 2nd quarter earnings season which may be good news for stocks. A bill that would prevent any North Carolina city from developing municipal broadband was defeated in the state legislature.