Surprise May Await U.S. Investors

By: Maynard Joseph

November 26, 2009 –

While the U.S celebrated the Thanksgiving holiday and all major U.S financial markets were closed, Europeans probably wished their markets were closed also.

Totally unexpected news from Dubai blindsided European markets.  Dubai has submitted a proposal to delay debt payments, which many believe could lead to a $3.52 billion bond default.

The question was raised if “this was the beginning” of the long predicted next shoe to drop, commercial real estate defaults.

In Europe, Dow futures were down 179.00   S&P futures were down 24.00 

Europe STOXX index was down 97.46. Oil dropped $1.73.  Gold was up $5.20 per ounce.

The U.S. dollar surged against the Euro and the Pound.