Dubai World Crisis Subsides

The debt crisis of Dubai World,a United Arab Emirates sovereign wealth fund,has quieted down for the moment.The fund will meet with its major creditors,all of them British banks,some time next week.Dubai World is about 60 billion in debt,and wants to restructure 26 billion of it now.This announcement calmed world markets and foreign leaders.The consensus now is that everything will be worked out.The S&P futures pointed up this evening,and next week will be light on U.S. data.As we sit here tonight,there isn't too much to fret over other than Christmas shopping and decorating,which is a fun sort of concern.Buy yourself a present if you can and check back with the markets Sunday night,when Asia begins trading.The retailers need you.