Marketplace Index for Friday, January 13, 2012
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Just when things were starting to look up in Europe, Standard & Poors announced credit ratings downgrades for several European countries, including France and Austria (from AAA to AA+). Even more troubling was news that Greek officials ended negotiations on a debt swap with private creditors without reaching an agreement. Mark Blyth from Brown University says Greece has four ways out of its crisis: devalue, deflate, inflate or default. The Daily Pulse is down today on news that JP Morgan Chase announced a 23-percent drop in fourth-quarter profits compared to the same period in 2010. But don't fret, they still made record profits in 2011.