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This is -- Imus in the morning.
Around on the fox -- Good morning everyone global markets -- lower this morning on concerns over the European debt crisis possibly spreading to Italy.
In Europe stocks are down across the board and have been all day -- they are off their lows of the day.
Currently London down 46 points Paris is down 35 than Frankfurt's down seventy.
Here in the US the same to report futures down across the board but doing better than they were earlier today.
Dow futures are down 29 points the S&P is down five and a half points and the NASDAQ down three and a half points.
In the last thirty minutes we got the latest report on the trade deficit.
It widens -- fifty point two billion dollars in May that's its highest level since October of 2008.
And the job is because of higher oil prices imports are at their second highest level on record.
For preview of the trading day now let's go over to the call -- -- -- -- on the floor of the New York Stock Exchange radical.
Hey good morning Diane good morning everybody -- clearly to see the futures have been under pressure you have the Euro coming up off its lows but still.
The dollar wouldn't stop -- will certainly be pressuring markets here at home yesterday we were down over a 150 points today.
-- certainly looking to the downside here this morning we'll be watching a Dow component but let's start off with some of those banks was European banks we'll certainly be ones to watch the banking.
Group particularly those aren't banks may come under pressure Deutsche bank for example his lower.
This morning and on the Euro debt fears are going to see a lot of those names coming under pressure still be looking -- a lot of those foreign banks.
Then I'm here at home Alcoa came out but its quarterly numbers after the bell yesterday kicking off earnings season so get ready.
But -- call is eyes looking to the downside down more than 1%.
Missing the analysts' estimates with its numbers of 32 cents a share analysts were looking for 33 cents a share.
On average -- -- there and you can see it's slightly to the downside -- this mean things can't turn around by lunch time.
But it is certainly looking like a lower open Cisco Systems this is.
Really hot topic on Wall Street already.
That we're talking about 101000 jobs that that may -- gone bye -- therefore Sysco not -- was the Dow component.
Cisco today is down about 1% and of course you have the big news on -- and and CR.
And so what you do see these stop -- moving at retailers it's a retailer in software and so you have that -- surging.
About 30% this morning so we'll keep an eye on that deal for you.
Back to you.
-- the gulf.
Congressional leaders remain deadlocked on a deal to raise the debt ceiling and -- meet again today to try to work out a deal.
Rich -- that the white house with more rich this is now day four of talks is there any end in sight.
Well we're getting closer to that deadline Diane and still as we continue to meet now what amounts to be every day with the top Democrats top Republicans in the house and senate we keep coming up.
With the same conclusion at the end of every day.
Still an impasse there's still caught on taxes and how much to -- from future spending so we are caught in this cycle.
-- by Democrats and Republicans are still stuck.
On their points and are refusing to get off the president says it's the Republicans.
Have to give in on their no tax pledge.
They want to reach a deal take a listen.
I do not see a path to growth -- to a deal if they don't budge.
I mean if the basic proposition is it's my way or the highway.
Then more probably not -- get something done because we've got divided government.
Democrats or Republicans meet again here at the the White House through 45 this afternoon Democrats are proposing to raise taxes on families earning more than 250000 dollars a year on oil and gas companies.
Corporate jet owners and hedge fund managers and they say -- those types of tax increases that there will be no deal they will not sign -- that deal many Democrats.
In the house and senate are still stressing that drawing that line in the sand Republicans say it's an overall tax increase they will not sign onto -- they say they'll talk corporate.
And individual tax reform but net over net if you're talking about taking more tax revenue for the American people.
Taxes are off the tape.
-- So dead chicken continues -- Lauren I'm sure you keep those those favorite thing thanks.
And Treasury Secretary Tim Geithner is making more comments on the deficit talk this morning he's reiterating his stance saying the debt limit will be raised and the failure to do so is not an option.
He also says both Democrats and Republicans understand what's at stake and they will come to an agreement.
Here's a look at commodities now oil gold and silver are mixed at the moment.
Boiled down around 94 dollars a barrel gold but forty cents -- -- -- 35 cents.
Imus in the morning continues right now on Fox Business giving you the power to prosper.
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