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Markets on Hold Ahead of Jobs Data

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

  • Duration 5:01
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Imus in the morning.

Around on the Fox Business.

-- and good morning everyone futures are rising here in the US at a fresh economic data investors right now we're waiting on reports -- the labor market and service sector.

In just a few minutes we'll get the ADP report which is expected to show the private sector added 75000.

Jobs last month.

Meanwhile last hour challenger gray and Christmas said planned layoffs topped 1151000.

Last month.

The highest level since April of 2009.

Right now Dow futures are up by 35 points yes -- up by almost five.

And the nasdaq's up by almost six.

Being all over in Europe stocks are sharply higher on a report of a plan to recapitalize the region's banks.

London's up one of one Paris that 76 and Frankfurt's a 17 before.

It hasn't even been a day since the iPhone four S was unveiled and someone's already trying to fight it.

Samsung says it will try to ban the sale of the new -- -- in France and Italy claiming apple infringed on some of it's patents for three G technology.

Then some hopes to use -- devices roll out as leverage against apple in a legal battle over the design of Smartphones and tablets.

Bank of New York Mellon -- -- -- is getting hit with two more lawsuits alleging the bank improperly charged clients for currency transactions.

The Justice Department and New York's attorney general filed separate suits.

They're looking to recover more than two billion dollars the bank says the claims are quote flat out wrong and that it will fight -- vigorously.

-- -- fourth quarter earnings are in and they have missed expectations wholesale retailer reported a profit.

Of one dollar and eight cents a share the expectation was for a dollar ten.

But total revenue for the quarter beat estimates coming in at 28 point 18 billion dollars.

The company also announced it's raising membership fees by five dollars for some customers.

The increase will affect roughly 22 million members and we'll go into effect on November 1.

Demand for mortgages fell last week the Mortgage Bankers Association says the number of applications fell four point 3%.

It largely reflected reflected rather a drop in demand for refinancing loans.

That comes even as mortgage rates declined the thirty year fixed rate mortgage averaged four point 18%.

Down from four point 24%.

And we have some good news for investors ripped off by Bernie Madoff the -- in the now literally.

Irving Picard the trustee of -- -- his mailing out 312 million dollars in recovered payments to some 12100 accounts starting today.

Though it may seem like a lot that represents less than five cents for every dollar loss to be included accounts.

But overall card and prosecutors have recovered nearly eleven billion dollars a lot of it's just tied up -- ongoing litigation right now.

-- has filed for Chapter Eleven bankruptcy protection the -- ice cream chain says it's entering Chapter Eleven to implement a quick financial restructuring.

And will receive a commitment of about seventy million dollars in financing.

From these plans to close 63 underperforming restaurants but more than 400 will be open for business as usual.

And let's take a look at what's driving the European markets joining us now to do that -- that -- -- from Dow Jones Newswires in London nick.

Reuters is setting a senior -- officials saying that Greece's next bailout -- -- -- guaranteed.

But they feel optimistic that it's going to happen eventually could Greece survive in the meantime without it.

And it.

Well yes I think in the meantime it does look as if they do have a little bit more money than people -- -- it.

Published sounds a little bit all of doesn't have to be -- that you know -- -- -- your bank -- that.

Got -- is quite so certain it's a little complicated I -- All but yet the PA is a does have a few -- found alive of what he's insisting they have.

Is the fact that you know they have come to the point and the EU EU -- this is -- essentially.

You have knowledge that not only is of ideally we still in the -- miss its budget deficit targets on.

But also that -- the package to had put together.

Really is not enough the country's gonna need more money is simply too short on and so that seems to be the point at which rat essentially.

That means that -- is gonna have to be a big renegotiation.

Of the bailout and also that while -- you wanna try to drag in the private sector and so did his suggestions have a bigger haircut that is basically making the private sector -- more losses on their exposure to Greece on as well now you have to put that in the context of -- That private sector both in the banks by the way as to what we've also had is sick of the -- based think about it say yeah -- will also coordinate save the banks.

You know it's like fire hoses all over the place -- they're not quite so where to aim them.

And it gets you think that trying everything they can will stand -- and thanks a lot.

And now taking a look at commodities oil and gold let's see what they're doing right now.

Mix at the moment oil is up but gold is down coming up later this hour Imus is definitely fox news's Sean Hannity.

Imus in the morning continues right now on Fox Business.

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