European banks have largely reported a weak set of earnings for the fourth quarter so far and banking stocks have tumbled amid concerns over market volatility and the bad loan portfolios of Italian banks.

Crude oil may have rallied more than eight percent last week and is trading near 2004 lows, but it doesn't mean we've seen the bottom in the market. In fact, the recent bullish trend could be short-lived in 2016.

Oil prices hit fresh multi-year lows Friday amid fears of what effect Iran flooding the market with crude will have on the commodity.

Crude oil may have rallied more than eight percent last week and is trading near 2004 lows, but it doesn't mean we've seen the bottom in the market. In fact, the recent bullish trend could be short-lived in 2016.

An indicator of U.S. economic activity increased in November, suggesting an improving pace of economic expansion ahead.

U.S. import prices fell in November as the cost of petroleum and several goods continued to decline, suggesting that cheaper crude oil and a strong dollar will keep imported inflation pressures subdued for a while.

The U.S. trade deficit widened unexpectedly in October as exports fell to a three-year low, suggesting that trade could again weigh on economic growth in the fourth quarter.

U.S. inflation should rebound next year as pressures related to the strong dollar and low energy prices fade, the Federal Reserve's second-in-command said on Thursday, adding the economy has done well reasonably well thanks in part to a delay in interest rate hikes.

Global excess demand for the dollar drove up its exchange rate against the euro 1.31 percent in the course of Friday's trading.

San Francisco Federal Reserve President John Williams said on Friday that low neutral interest rates are a warning sign of possible changes in the U.S. economy that the central bank does not fully understand.