Some background on Charles H. Dow (of Dow Jones & Co. fame) in an article by Tim Wood. Tim is a guy who appears regularly on the Financial Sense Newshour broadcasts and has spent a lot of time studying Dow Theory and stock market cycles. In, "Who was Charles H. Dow?", Tim gives us a bit of background on a man who helped shape financial journalism and whose writings on market movements formed the basis of what came to be known as "Dow's Theory". Good info for us youngsters.
S&P cut Nasdaq's credit rating to junk status citing debt burdens and its questionable strategy to buy a controlling interest in the London Stock Exchange. Financial Times reported that the exchange's counterparty credit & bank loan rating were lowered fromm BBB- (lowest investment grade rating) to BB+. The change will increase Nasdaq's borrowing costs should it wish to pursue aquisition targets. For an earlier look at the exchange consolidation trend that brought about Nasdaq's push for a stake in the LSE, please see "Exchange fever" .