Markets drop after Spain’s credit rating’s cut

The market is down 1. The SFE Futures were up 18 this morning.

The Dow closed up 114 and was up 137 at best. The S&P 500 closed up 0.67% and the Nasdaq up 0.69%. Standard & Poors’ has cut Spain’s credit rating this morning. The Dow futures dropped from being up to down 41 on the news. Metals were up on the LME. The gold price was up $18.20 to $1660.50. Oil up 6¢ to $104.02. The Australian dollar is currently buying 103.67¢. Consumer discretionary stocks were best in the US, up 1.25%. Materials and Healthcare underperformed. Ten-year US bond yields dropped to 1.939%.

Main points:

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