The markets have been pricing in a downgrade of France all week, and if that does not happen over the weekend it probably won't happen the week of Christmas either. One would have to think that if France was to get downgraded it would have happened after the close of the U.S. markets on Friday. Who downgrades Santa before he leaves on his journey?
The following statement pretty much sums it up, and if France does not get downgraded over the weekend it most likely will be a positive for the markets heading into next week.
"Again, as with Fitch’s bank rating downgrades last night, this doesn’t seem to be having any effect on markets — the euro is flat, as are futures. It’s Friday night, so there aren’t many people around to trade, but this is not the most shocking news in the world."