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Obama Urges Push of $447B Jobs Bill

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

  • Duration 4:51
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This is this Imus in the morning or.

On the fox goes.

Good morning everyone police are on heightened alert after federal authorities warned of a potential terrorist threat.

Linked to the anniversary of the 9/11 attacks but the world will -- this weekend to reflect on the life changing events from ten years ago.

Adam Shapiro is standing by near ground zero with more Adam.

And Diana want to show you what's going on this is where everything will take place on Sunday the president will be here.

York city mayor Michael Bloomberg will be I would step out of the shots of them I've -- Africans events that you can see the progress.

Here at ground zero you can see the 9/11 memorial which will be open for -- public first to the families of the victims of 9/11.

Then after that you can come and see this memorial which have to make a reservation you can do that online hundreds of thousands of people have already done that and the Bloomberg administration says that they expect.

Close to a million reservations.

By the and the first year of this memorial being open.

Let's take a wide shot you can see the building this is actually one World Trade Center.

It is now 78 stories high and then over here medical take it so the folks over here -- -- alike -- This is actually tower three of the World Trade Center reconstruction project are two will be over in the corner and -- -- step back -- -- Cameron dumping up to speed.

On the latest involving.

What is -- credible terrorist threat according to according to US government sources they believe.

That they're looking for three men who speak both Arabic and English.

And the information that tipped off US sources came out of Pakistan.

They don't have discreet very is -- verifiable.

Identifications of the individuals they have names but they say the names are very common.

The concern is that they're targeting new York and Washington.

With some kind of car bomb explosive so the US on heightened alert because of that terrorist warning.

-- Thanks -- And President Obama laid out a 450 billion dollar plan last night to put unemployed Americans back to work.

The legislation calls for tax cuts topping 200 billion dollars.

And 140 billion dollars in spending.

The president also wants to extend unemployment benefits for another year which would cost 62 billion dollars He said components of the bill have bipartisan support.

So it should be passed.

Right away.

There should be nothing controversial about this piece of legislation.

Everything in here.

Is the kind of proposal that's been supported by both Democrats.

And Republicans.

Including many who sit here tonight.

And everything in this bill will be paid for.

Everything.

The president didn't say how the legislation will be paid for but He does say he'll release a detailed plan in the coming days.

Let's take a look at the markets now over in Europe stocks are lower across the board -- currently down by almost 32 points.

Paris is down by 41 in Frankfurt down by 56 here in the US we're also seeing red across the board Dow futures down -- 42 points.

The S&P is down by six and the NASDAQ is down by twelve almost thirteen points.

And now for -- recap of the Asian markets let's go to Fox Business contributor -- sergeant who joins us by phone from Singapore hi Katie.

I'd add after a couple of days of gains here in Asia markets give a little bit of that back.

With some of the gains earlier in the day even evaporating as the day wore on Japan finishing the day down extent of the -- that is expanding with -- -- Where the week.

The kospi was down one point 8% today but retailers there that better than the overall market uncle what the holiday spending.

The next week they'll be celebrating what is.

Basically referred to as the equivalent of the US thanks -- holiday a lot of people have.

The time off pawnshops Hong Kong and Shanghai boat drifted into negative territory in the afternoon with -- thing down about a quarter percent.

And the composite index finishing just below the Red Line also today in Japan the government said the economy contract -- more than that in the second quarter that initially reported.

It says GDP shrank two point 1% in the April to June period.

That's down to the initial estimate of one point 3% but the economy is expected to pick up in the current quarter -- -- skating.

Meanwhile Bank of America could be cutting 40000.

Jobs according to the Wall Street Journal the layoffs would be part of the bank's multi year restructuring plan.

But the number isn't final and it could change CEO Brian Moynihan and is expected to talk about the cuts at a conference on Monday.

This is the bank's latest -- bolsters finances amid concerns about the slowing economy.

And a slew of mortgage related lawsuits shares are lower in premarket trading here's a look at the commodities now oil and gold are both down.

Gold is down by about nineteen dollars almost twenty dollars there at 1837.

Announced -- down by about 37 at 87 dollars a barrel.

Imus in the morning continues right now on Fox Business giving you the -- across.

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