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Moody's says a future downgrade of the U.S. credit rating from AAA is possible. Also, global markets reacted harshly overnight to S&P's U.S. credit rating downgrade announced late Friday.

Global markets plummeted overnight night as news of the U.S. downgrade. Monday is the first day of trading in the U.S. and futures pointed sharply lower early by 6:30 a.m.

Overseas stocks are plunging following the devastating sell-off in the U.S. Thursday, ahead of a crucial July jobs report out of Washington.

A weary-looking President Obama told reporters late Sunday that a deal had been reached between the leaders of the White House, Senate and House of Representatives to raise the federal debt ceiling and avoid the first U.S. default, although a series of votes by all members in Congress is needed to make the ceiling raise a reality.

Oil prices dropped to near $101 a barrel in Asia on Friday, after a powerful earthquake measuring 8.9 magnitude on Richter scale hit off Japan.

U.S. stocks ended higher on Tuesday, as oil prices eased to below $105 a barrel and financials rallied on upbeat profit forecast from the Bank of America.

Asian stock markets mostly ended higher on Thursday as higher growth forecast for the U.S economy from the Federal Reserve and solid earnings reports buoyed sentiment.

China’s decision over the weekend to raise interest rates could turn out to be positive development for Japan, according to a Tokyo-based economist.

This is the best time in decades to buy U.S. stocks, according to Elaine Garzarelli, the analyst who became famous by correctly predicting the stock market crash of October 1987.