US stock markets closed for Thanksgiving Holiday $DAX.I

  • 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
Spectrum Live
Published by Spectrum Live Pty Ltd | www.spectrumlive.com
  {JFBCLike url=http://www.spectrumlive.com/market-view layout=button_count show_faces=true show_send_button=true width=120 action=like font=verdana colorscheme=light key=sl}
{JFBCComments href=http://www.spectrumlive.com/market-view width=390 num_posts=1 colorscheme=light key=sl}