Futures held onto small gains Tuesday as optimism over a possible resolution to the euro zone debt crisis was tempered by a warning from ratings agency S&P’s that it could downgrade the credit ratings of 15 euro member states.
Stocks fell from their best levels Monday following a report that all 17 euro zone nations were told their ratings will be put on downgrade watch by the S&P, but still logged a modest gain at the close.
Futures jumped Monday as French President Nicolas Sarkozy and German Chancellor Angela Merkel meet ahead of a key summit and after Italy's new government unveiled austerity measures.
Stocks erased most of their earlier gains to finish near the flatline in thin trading Friday, as investors booked profits ahead of the weekend following a robust rally all week. Still, all three major averages posted an impressive gain of over 7 percent for the week.
The week's top business news and investment advice, including Europe plays & banking shorts.
Futures held their sharp gains Friday following news employment growth picked up momentum in November while the jobless rate fell to its lowest level in more than two years.
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Stocks finished narrowly mixed in a quiet session Thursday as investors took a breather following a sharp rally in the previous session and ahead of the crucial government non-farm payroll figure due Friday morning.
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Futures turned lower Thursday following news that weekly jobless claims climbed unexpectedly last week and following a sharp rally in the previous session.
Stocks rallied sharply Wednesday, with the Dow posting its biggest one-day point and percentage gain this year, after global central banks announced a plan to support the global financial system and a handful of better-than-expected economic reports.
Futures added to sharp gains Wednesday following news global central banks announced coordinated actions to enhance their capacity to provide liquidity to financial systems.
Stocks closed mixed Tuesday, with the Nasdaq ending lower and the S&P failing to end above a key technical level despite earlier optimism over a meeting of EU finance ministers and a better-than-expected consumer confidence report.
Futures edged higher Tuesday after an Italian bond auction which saw record yields but sold close to the top end of its targeted range, and ahead of another meeting of euro zone finance ministers under pressure to solve the debt crisis.
Stocks finished sharply higher Monday after some euro zone optimism helped boost investor confidence and following robust retail sales over the Thanksgiving weekend.
Futures surged Monday amid hopes European leaders were exploring more drastic methods to bring Europe's debt crisis under control while consumers boosted retail sales over the Thanksgiving weekend.
Stocks closed in negative territory in thin, shortened trading Friday as investors were reluctant to go long ahead of the weekend and amid ongoing worries over the euro zone. The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis.
Futures declined Friday following the Thanksgiving holiday as investors returned to focusing on the euro zone debt crisis.