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Morning Brief

Opening calls are indicating a lower open in Europe. The Rating agency Moody’ warned on Thursday that it may cut the credit ratings of 17 global and 114 European Financial Institutions.

In Asia overnight, equities and European stock futures fell, the euro weakened and commodities declined as European leaders remained divided over a Greek rescue.

The Dow Jones industrial average tumbled 97 points, or 0.7%, to end at 12,781. The S&P 500 fell 7 points, or 0.5%, to 1,343. The Nasdaq dropped 16 points, or 0.5%, to 2,916.

Events Today

Spain to sell Bonds, France to auction bonds or notes.

General Motors will probably report fourth quarter earnings fell 35 per cent after slowed in Europe and the automaker reduced US truck inventories.

Housing starts report in the US will be released in the afternoon.