Weakness in US financials push the S&P500 to a two month low $JPM:xnys

The fallout from JP Morgan's USD2.00 Billion hedging loss continues to roil the financial markets with JPM losing another 9.28% on Friday's session. Financial stocks led the S&P500 to a two month low despite stronger consumer confidence data which hit a four year high
The political stalemate in Greece rolls on with the heads of the major parties meeting with Greek President Karolos Papoulias failing to bring an outcome
China moved to control the pace of its recent economic slowdown by cutting the amount of cash banks must set aside as reserves
In some brighter news computer hardware maker Nvidia Corp rallied 6.4% after its sales forecast topped estimates amid stronger demand
Majors to report this week are JC Penney and Home Depot on Tuesday, Limited Brands and Target on Wednesday and Wal-Mart on Thursday
DOW –0.27%, S&P500 –0.34%, NASDAQ +0.01%
USD made four month highs against the EUR on Greek fears
Gold continues to trade at support levels around the USD1580.00 level while Crude was softer late on Fridays session making a USD95.56 low