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Financial stocks were mixed on Friday with the major banks sliding on European debt woes and credit companies ticking higher on news of consumer confidence that outshined expectations.

Stocks seesaw as employment data comes in stronger than expected but Europe woes continue as investors worry about the debt contagion affecting the U.S.

Hong Kong ended slightly higher in thin, volatile trading as the downgrade of Italian debt was another blow for investor confidence.

Stocks are trading lower today despite lawmakers announcing a potential debt deal agreement that could raise the borrowing cap and prevent a U.S. default.

Healthy rebounds in European and U.S. markets and commodity prices ignited a sharp rally in Hong Kong amid increased turnover. However, heavy redemption pressure on mutual funds will make the rally hard to sustain.

Morgan Stanley's pessimistic note on the state of the global economy and the likelihood of a double dip sent shares of stocks across the financial sector into a hole today. The debt in Europe and weak U.S. home sales have been inescapable negative drivers for the sector.

Q3 earnings take center stage. Wall Street now EXPECTS the U.S. to avoid recession and for Europe to solve its debt problems. There may be no room for surprises in this market.

After a long, frightening battle, on Monday U.S. politicians acted to take a catastrophic U.S. default off the table. And after weeks of growth stunted partly because of worries about that default, China stocks in Hong Kong are poised to rise.

Dual problems haunt global equity markets - Euro-zone sovereign debt issues and slowing economies here and abroad. Uncertainty = high risk

A lot of selling has already taken place, making it difficult for institutions to buy in-size without running stocks up.

European debt crisis plus the possibility of a U.S. recession are combining to produce a major buying opportunity at current levels, or a plunge below DJIA 10,000.

Hope that Europe would solve its debt crisis fueled a relief rally in early trading in Hong Kong following Monday's plunge, but the rally faded in light turnover.

Hong Kong rebounded strongly from Tuesday's massive decline, following U.S. markets higher. Blue chips broke back above the 20,000 level at one point but fell back on profit-taking.

The market is responding to news that the government won't shut down, and is also hoping for a euro-zone debt crisis solution. Lower prices for stocks is likely.

Crude oil reached its lowest levels in over a year in early morning trading but you would never know it from observing the late day rally from oil and gas stocks. Shares climbed on reports of more hope in the Greek debt dispute.

A toxic combination of fear of a flare-up in the European debt crisis, short-term speculation and a market closing on Tuesday for a holiday led to a major sell-off Monday for China Stocks in Hong Kong.

Analyst predictions that corporate tech spending will fall and the impact of European debt contagion led technology stocks lower for the day. PC makers and companies that rely on their business were especially affected.

Faiure of European finance ministers to tackle the region's debt crisis was one big factor, along with a rise in Hong Kong mortgage rates and a drop on Mainland markets.

Stocks are up in mid-day trading today as retail sales came in strong and EU showed some progress in handling the debt crisis. Apple is also holding up after the death of Steve Jobs.

The Market is telling us it believes Europe can effectively address its bank and debt woes. Buyers getting aggressive, charts coming to life.