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Dodgers File for Chapter 11 Bankruptcy

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 3:41
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This transcript is automatically generated

This is the Imus in the morning program on the Fox Business Network.

-- -- -- Everyone investors around the world are still focus on Greece as lawmakers there are debating new austerity measures.

They need to pass the plan in order to get warm bail out money in the supposed to vote on that Wednesday so Fox -- Greg -- -- -- in Athens right now with the latest on that.

Greg we've seen some protest -- response to these measures and in the past what's the mood like on the streets right now.

-- protest right now I'm Diana that the latest we're getting as the debate.

Should start here in the Greek parliament tonight tonight -- that vote expected Wednesday on the forty billion dollar austerity package this.

Aimed at trying date -- Greece back on the road to recovery the package that makes -- spending cuts tax hikes and other measures and has got them out here.

Furious they are planning -- 48 hour general strike which will start tomorrow morning Tuesday morning.

And then on Wednesday along with that vote.

A big protest potentially -- Not a done deal.

That that Greece will be out of the woods default could do in the future.

There have been passed -- packages there have been passed austerity measures as well a lot of a lot of upset here.

We'll leave actions against the utilities.

We're seeing blackouts here and we were out on the street last night Diane.

It's our first time here in several months.

For its involvement with the International Monetary Fund and by the way also gives the -- Thanks -- and investors here and around the world will definitely be watching that.

In the meantime a look at Americans but they're spending plans on hold last month amid concerns about a weak jobs market and rising prices.

The government says consumer spending was unchanged in May while income rose three tenths of 1%.

Spending is -- the weakest pace in twenty months and part of that weakness was due to high gas prices both income and spending came in below economists' estimates.

Where thirty minutes away from opening well Wall Street taking a look at futures now they're pointing to a higher open up -- -- up seven points the S&P almost flat but still a little bit up.

The NASDAQ up almost four points.

Let's get a full preview of the trading day though from Nicole -- on the floor near that stage -- morning -- Good morning -- morning everybody good Monday morning -- back right we're still down seven of the last eight trading weeks we've had.

A tough go of it we get the futures pointing basically -- a flat -- -- -- -- slightly higher but really looks pretty flat here salmon is a lot of concerns about Greece at locked in -- already the traders are talking about Greece it's not really a stock specific day but more -- where.

A big picture -- got back consumer spending number which is -- That coupled with won't be seeing in Greece that makes her tough go of it quickly some names to watch Amazon.

Being added to Morgan Stanley's best ideas -- so that's a winner today deckers they make of -- that's a winner as well getting an upgrade.

Mom also keep an eye out Cisco Systems they were cut to a -- tell.

And Goldman Sachs expanding.

In Brazil boosting their hiring there as that country continues to grow so those will be some of our stories that we'll continue to watch the big picture we've been -- some serious -- Back to you.

Thanks Nicole and another story will be watching and we just found out about a few moments ago the Los Angeles Dodgers have filed for Chapter Eleven bankruptcy.

That's according to a court filing filing stems from a bitter divorce between the -- owners Jamie and Frank McCourt.

Frank McCourt says the bankruptcy filing comes after Baseball Commissioner Bud Selig refused to approve -- television contract with fox sports.

Which is owned by the news.

By -- -- the parent of this.

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