What euro downgrade? Stocks turn in solid gains

US stocks were closed for the holiday today, but European stocks stocks turned in strong gains, apparently shrugging off the Standard and Poor's mass downgrade of nine Euro-zone countries as well as the Greek crisis. 

The Wall Street Journal reported early this morning that European stocks were seen lower, but markets had other ideas. Markets turned in the following returns:

-- German DAX +1.25%

-- Paris CAC 40 +0.89%

-- London FTSE 100 + 0.37%

The Euro traded flat against the U.S. dollar. 

US stock futures had been down on Sunday night but turned positive today in the wake of European markets. 


  • Allan Roth On Twitter»

    Allan S. Roth is the founder of Wealth Logic, an hourly based financial planning and investment advisory firm that advises clients with portfolios ranging from $10,000 to over $50 million. The author of How a Second Grader Beats Wall Street, Roth teaches investments and behavioral finance at the University of Denver and is a frequent speaker. He is required by law to note that his columns are not meant as specific investment advice, since any advice of that sort would need to take into account such things as each reader's willingness and need to take risk. His columns will specifically avoid the foolishness of predicting the next hot stock or what the stock market will do next month.