The reporting season is underway in the US with a showing of improvements in big businesses there drawing confidence for the American economy.

This was marred this morning, however, by a warning from ratings agency Standard and Poor's to the US Government.

See video below of weekly market update with IRG BOP's Jonathan York.

It has lowered its long-term outlook for the US federal government's fiscal health from ‘stable' to ‘negative'.
Such a move puts the US Government at risk of losing its AAA credit rating.