US stocks slip, Yelp jumps 64% after IPO; EU fiscal treaty, oil prices eyed

The US markets opened in red on Friday, energy stocks saw selling pressure. The consumer review website Yelp jumped over 60 per cent than from its 15-dollar IPO price. The US government asked the court to dismiss a lawsuit on its takeover of insurance company American International Group in 2008, Former AIG Chief alleged it unconstitutional. European leaders signed a fiscal contract to reign in debt in Eurozone; Britain and Czech Republic opted out. Meanwhile, crude oil prices cooled off after supply worries eased, but oil politics is still hot on the back of Iran voting.