NEW YORK (AP) — Stocks finished with gains Monday, but caution about the outlook for Europe sent stocks off their session highs. The Dow rose 78 points, or 0.7 percent, to close at 12,098. The gain for the S&P 500 was 13 points to 1,257. And the Nasdaq added 29 points to 2,656. Futures trading suggests a higher open.
BANGKOK (AP) — International stock markets sank today after Standard and Poor’s warned 15 countries using the euro that it could downgrade their credit ratings. Skepticism over a new plan to prevent a breakup of the common currency also dragged markets lower. Benchmark crude oil hovered below $101 per barrel.
BERLIN (AP) — German Chancellor Angela Merkel is downplaying the news that Standard & Poor’s is examining the credit rating of 15 eurozone countries for a possible downgrade. She says the region is on the path out of its financial crisis. She told reporters today that eurozone leaders will plot a course to “regain confidence” when they meet later this week.
BECKLEY, W.Va. (AP) — This could be a key day for families of 29 men killed in the deadliest U.S. mine disaster in decades. Federal prosecutors are holding a teleconference this morning to discuss what they call “significant developments.” And the Mine Safety and Health Administration will submit its final report on the blast at a Massey Energy coal mine in West Virginia.
UNDATED (AP) — There are no key economic reports due for release today in the U.S. In Berlin, Treasury Secretary Timothy Geithner meets with European Central Bank President Mario Draghi and the German finance minister. In Athens, the Greek Parliament votes on a 2012 austerity budget.
BRUSSELS (AP) — Standard & Poor’s is threatening to downgrade the credit rating of 15 eurozone countries. The decision by S&P to put the 15, including AAA-rated nations such as Germany and Luxembourg, on watch for a possible downgrade piles pressure on eurozone leaders to find a solution to the currency union’s debt troubles at a summit later this week.
WASHINGTON (AP) — First-class U.S. mail could slow even more by next spring under plans by the U.S. Postal Service to eliminate more than 250 processing centers. Nearly 30,000 workers would be laid off, as the post office struggles to respond to a shift to online communication and bill payments.
NEW YORK (AP) — Facebook has hired the team behind Gowalla, the location service that lets people share where they are using their mobile phones. Financial terms and other terms were not disclosed.