US stock markets closed for Thanksgiving Holiday $DAX.I
- Updated: 02 April 2012
- Published: 22 August 2011
- US equity markets were closed overnight as the US celebrates the Thanksgiving Holiday. They will reopen tonight in a reduced session
- With the US markets closed attention turned to Europe with the continued debt crisis raging on. Markets looked to the meeting between Sarkozy/Merkel and Monti for some positive news but were disappointed when Chancellor Merkel refused to endorse a move to create a European bond or direct the ECB to fight the crisis
- Portuguese bonds were downgraded to B (junk status) by Finch
- Troubled French/Belgium lender Dexia rallied 28% after news that a potential bailout by the French and Belgium governments may proceed after all with the French government shouldering more of the burden. Although the stock rallied 28% it is still down 86% for the year
- Dow Jones –2.05% S&P500 –2.21% NASDAQ –2.43% (closed)
- Currency markets were quieter with the US on holidays. EUR was weaker earlier and the AUD will remain under pressure
- Gold was flat overnight and Crude ( 0.9%) rallied on lower stock piles
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