U.S. stock markets were closed in honor of President's day on Monday, but there was some traidng to report.

S&P futures, which moved with European markets, declined 11.25 points (-1.37%) after the G7 failed to outline a specific plan for dealing with the financial crisis. The risk-aversion move saw the dollar gain against the higher-yielding currencies with a 0.68% move against the euro, a 0.62% increase on the pound and a 1.19% upside move against Australia's dollar. Two-year Treasury futures gained 0.15% while ten-year futures were higher by 0.61%. Gold for April delivery traded higher by $2.90 (0.31%) to $944.40 per ounce while March crude fell 31 cents (-0.83%) to $37.20 per barrel.