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This is -- Imus in the morning important.
-- on the fox -- I have the final.
Good morning everyone starting things up with a look at the markets let's take a look at Europe right now -- markets have been selling off after a disappointing GDP report from Germany.
Growth in Europe's largest economy snow slowed to a near standstill in the second quarter.
And that report is hitting.
Markets both in Europe and also over here in the US.
You can see US futures are also down across the board just like Europe -- futures are down triple digits losing model for so far.
The S&P is down sixteen points in an aspect 126.
Meanwhile will be getting our own economic data later this hours we'll see how that affects the market that'll be coming in at 8:30 eastern time and will get reports on housing starts.
And import and export prices we got second quarter results from a pair of Dow components earlier this morning Wal-Mart is posting better than expected earnings in the second quarter.
The world's largest retailer says it's made a profit of one dollar nine cents a share.
Wal-Mart raised its full year earnings outlook and shares are rising on the news Home Depot meanwhile also beat estimates for the second quarter.
The Home Depot home improvement chain posted a profit of 86 cents a share and revenue top twenty billion dollars in the quarter.
Let Wal-Mart home people also raised its full year earnings forecast markets -- also be keeping a close eye on the meeting between Nicholas Sarkozy and Angela Merkel.
They'll be discussing new solutions for the European debt crisis and after that meeting they'll hold a joint press conference.
Analysts will be looking to see if there any signs that the eurozone will issue common bonds.
But officials have said Sarkozy and Merkel won't address that.
That -- -- likely focus more on proposals to improve economic governance.
President Obama's spending the second day -- admit a -- in his mid west bus -- hosting a -- economic form an Iowa.
The president is expected to unveil new measures to boost hiring in rural areas.
As for the overall economy He said last night he'll introduce a quote very specific plan in September.
The president will finish up that tour tomorrow in his home state of ill and -- Meanwhile Warren Buffett thinks the economy will grow faster than the Federal Reserve does.
Last night -- Charlie Rose Buffett said the economic growth in the US will be very good over time.
Also Buffett's Berkshire Hathaway disclosed its stock moves in the second quarter.
The company showing -- holdings in Dollar General valued at more than fifty million dollars that sent shares higher in after hours trading.
Berkshire also reported increase stakes in master -- and Wells Fargo but the company did trim its holdings of Kraft Foods.
The national credit card delinquency rate is at its lowest in seventeen years.
Credit reporting agency Trans Union says the rate fell to six tenths of a percent in the second quarter.
Its lowest rate since 1994.
Improvement comes even though there was a slight increase in the debt customers carried for the quarter.
The total average for major credit cards rose by twenty dollars in the first three months of the year but that amount is still 16%.
Lower than the -- -- average.
Which we -- in the first quarter of 2009.
Now let's get the latest on weather from meteorologist Maria Molina and our Fox Business weather center hi Maria.
Hi good morning -- we're tracking the storm system again today across the northeast in the same system.
That -- brought that brought heavy rain across northeast over the weekend and still looking at some areas of showers.
In light rain across northeastern portion of the Pennsylvania happened to northern -- early this morning and that will be the story throughout the day to day so plan to see those travel delays.
Along with cooler temperatures today otherwise heading westbound we are gonna have areas of heavier rain across northern plains and also some thunderstorms second -- -- year.
With the possibilities of seeing large sized -- and also damaging wind -- out of some of those storms and.
Thanks -- -- and we just got quarterly results from -- the luxury retailers reporting a -- -- ten cents a share.
The expectation was for a loss of five cents so better than the estimate there was for a loss of nine cents rather.
Revenue topped expectations at 670 million dollars Imus in the morning continues right now on Fox Business giving you the power to.
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