After a three day rally the Dow closed down 197 points and was down 230 at worst.

European markets were down as Standard and Poor’s put the European Union’s AAA long-term rating put on “creditwatch negative”.

Merkel and Sarkozy are in “complete agreement” on a plan to impose budget discipline across the region and said the EU treaty will need to be rewritten.

The Dow recorded its biggest weekly rise last week since 2009, up 7%. The early gains came on news of a fall in the US unemployment rate.

Better than expected US economic data offset continuing European issues.

Dow Jone has its best day since March 2009 on coordinated action by 6 central banks to lower the cost of emergency dollar funding.

S&Ps downgraded the ratings of major US banks including Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Bank of America.

After seven days of losses the S&P 500 closed up 2.9% and only four stocks in the index fell.

The market is up 84. The SFE Futures were up 5 this morning. The Dow Jones closed down 26 on Friday. Dow down 26 at worst and up 104 at best. The S&P 500 recorded its 7th straight fall during which it has fallen 7.8%.  The index was down 4.7% for the week – its […]

US Markets were closed overnight for the Thanksgiving holiday, meanwhile European markets closed down.

The S&P 500 was down for a sixth straight day — its longest losing streak since a seven-day drop in August.

S&P 500 closed lower for a fifth straight day, down 0.4% and under the 1200 support level.

The S&P 500 was down for a fourth straight day — its longest drop since September.

It was the worst week in two months with the Dow down 2.9% and the S&P 500 down 3.8%.

European stocks recorded their lowest close in six weeks.

Most of the damage for US markets done in the last two hours of trading as the Fitch Ratings agency came out with a report on U.S. bank exposure to Europe.

The quick formation of a new Italian government boosted the mood, while US economic data was also positive.

German Chancellor Angela Merkel’s party voted to allow euro states to quit the euro zone, a move which is not permitted under current euro rules.

Italy’s Senate approved the package of measures that had been demanded by the EU.

The market is up 4. The SFE Futures were up 22 this morning. The Dow Jones closed up 113 overnight and up 180 at best. Politics dominated the headlines overnight with Former European Central Bank vice-president Lucas Papademos appointed to head Greece’s new crisis coalition and European Commissioner Mario Monti looks likely to replace Italian […]

Comments from the IMF MD that if Europe didn’t pull together they risked a decade of lost growth didn’t help.

The big news overnight was Italian Prime Minister Silvio Berlusconi saying he will resign after the new budget measures currently making their way through parliament is approved.

Focus has now shifted to Italy which faces a key parliamentary vote on budget reforms.