Monday, December 1, 2014

Futures Pointed Lower

Dow futures are off 63 points, as ratings agency Moody's downgraded Japan's credit rating and commodity prices continued to tumble.
The only major economic data due from the U.S. is the ISM Index for November, expected at 10 a.m.  The markets have lacked any real stimulus to move them off current levels.
Earnings of note include online payment service MOL Global's rescheduled results. Its Nasdaq-listed shares tumbled when its CFO resigned only one month after the firm went public.
Earlier in the day, Moody's cut Japans credit rating to A1 from AA3, shortly after the country's benchmark stock index, the Nikkei 225, closed at a seven-year high. The credit ratings agency cited doubts as to whether Japan could meet its deficit-cutting goals and the timing and effectiveness of its growth-enhancing policy measures.  Things in Japan are a bit of a mess at the moment.  Their rising stock market is soley the function of easy money.  

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