- Ratings agency Egan Jones has cut France’s credit rating to BBB+, with the outlook negative. Consideration is given to the economic crisis in France and the rise in funding costs for the nation, along with the deteriorating state of its banks. Moreover, coupled with President Hollande’s promises to the people, France’s current economic outlook is negative. Story is HERE.

- California hedge fund Expo Capital Management LLC, based in Los Angeles is liquidating its $458 million health-care equities fund, particularly due to the volatile economic crisis currently undergoing in Europe. Hedge fund manager Paul Sinclair admits he has no edge or insight given the current volatility of the markets and moreover, investing in healthcare has left him “physically and mentally exhausted.” Story is HERE.

- Jobless claims rose 6,000 to 386,000, which is an upward revision of the 380,000 jobless claims number expected by US markets. Moreover, hiring has slowed due to concerns about the pace of economic recovery, as employers add about 96,000 jobs per month for the past three months, keeping the unemployment rate to 8.2 percent in May, which is heavily manipulated to begin with. Story is HERE.

- The ponzi scheme U.S. stock market is trying to sputter back to life as news of coordinated central bank action in Europe is emerging, just in time for the last 30 minutes of the market close. However, after a brief spike, the market is selling off, as concerns over the fundamentals of the problems in the economy are concerning investors. Story is HERE.