U.S. equity markets are called lower this morning following sell-off in Asia and Europe. The stronger Dollar is leading some investors to pare positions. Traders are trying to protect profits at the end of the year as chart patterns suggest there is more downside than upside potential at current levels.

U.S. equity markets are trading higher this morning as concerns over Dubai issues subside. Traders are now downplaying the debt issues in Dubai and calling it a local issue. This is helping to weaken the Dollar and increase demand for higher yielding assets.

The U.S. Dollar is climbing sharply higher as global investors dump stocks and commodities on concerns about Dubai World’s debt problems. Fear is racing through the global investment community, making lower-yielding assets such as the Dollar and the Yen more attractive. The situation in Dubai began to break late Wednesday night and spilled over into Thursday while U.S.

U.S. equity markets are trading flat to higher ahead of this morning’s U.S. 3rd Quarter GDP Report. Expectations are for the report to show a decrease in the economy from 3.5% to 2.8%. A wider trade gap and faltering consumer spending are cited as the main reasons behind the decline.