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Premarket: Dow's record-setting rally to take a break Add to ...

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Market sentiment has shifted to a more cautious stance this morning after the Dow Jones industrial average last week enjoyed four record high closes in a row.

U.S. stock futures are a little weaker and European equities are posting modest losses, as traders grow more reluctant to bid up stocks as budget matters in the U.S. remain unsettled and the European debt crisis remains a threat to the global economy. Late Friday, there was a reminder about how precarious Italy's governing situation has become after Fitch Ratings cut the country's credit rating one notch to BBB-plus. Italian bond yields edged higher in the wake of the downgrade, an action that was tied to the country's inconclusive elections last month.

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