S&P Latest News: S&P Downgrades Italy's Credit on Weak Prospects

Standard & Poor's Ratings Services is downgrading Italy's credit, saying the country's economic prospects are getting weaker. A federal judge has made a tentative ruling that would let the U.S. government pursue its $5 billion civil lawsuit accusing Standard & Poor's of defrauding investors by inflating credit ratings prior to the financial crisis. Stock index futures rose, putting the S&P 500 on track for its third straight advance in the wake of recent better-than-expected payrolls reports and ahead of the start of earnings season after the close. The benchmark S&P index rose 1 percent in the prior trading session on the strength of the jobs report. Dow component Alcoa Inc kicked off earnings season after the close.
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