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Moody’s downgrades UK sovereign credit rating

While traders and investors in the Philippines rejoice over all-time highs in the stock market, favorable economic conditions and positive consumer outlook, the opposite seems to be the state of norm in the Eurozone area — with more news of recession, austerity programs and credit rating downgrade coming from that part of the world.

The latest in the recent spat of bad news from Europe is the announcement of ratings agency Moody’s that it is downgrading Britain’s sovereign credit rating for the first time in the country’s history.

Dow Jones posts biggest gain since 2009, but is it sustainable?

A coordinated response by the world’s leading central banks to the Eurozone crisis led U.S. stocks to score their biggest daily percentage gains yesterday (November 30), with three benchmark indices ending with at least a 4% gain.
The Dow Jones Industrial Average (DJIA) closed at 12,045.68, up 490.05 points or 4.24%. It was the Dow’s biggest one-day gain since March 23, 2009.
The S&P 500 also surged, ending the trading day up 51.77 points, or 4.33%, to 1,246.96. It was the S&P’s highest daily gain since August 11, 2011.
The tech-heavy Nasdaq Composite Index also soared yesterday closing at 2,620.34, up 104.83 points or 4.17%.

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