Standard & Poor's has cut Greece's credit rating to "selective default".
However, Greece's debt problems are no longer weighing on markets. The S&P 500 edged up 0.1 percent to close at 1,367.59 on Monday, the highest since June 2008. The STOXX Europe 600 fell 0.3 percent.
The US stock market got a little boost from a report on Monday showing that pending home resales rose 2.0 percent in January, which provided yet more evidence of a recovering housing market.
Also positive for the US market was a report from the Dallas Federal Reserve showing that its general business activity index rose to 17.8 in February, its highest reading since November 2010, from 15.3 in January.
No comments:
Post a Comment