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S&P Places Euro Zone on Creditwatch Negative

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 5:01
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Imus in the morning.

On the -- Good morning everyone we've been telling you about hasn't.

This morning -- Standard and -- has also placed the eurozone bail -- funds triple -- rating on credit watch negative as well.

As NP says depending on the outcome of the review of the ratings of member governments the firm could lower the long term rating of the fun to one or two notches.

Treasury Secretary Tim Geithner meanwhile -- Berlin as he continues three days of meetings with European leaders.

About the region's debt crisis -- businesses Ashley Webster joins us by phone from Berlin.

With all the -- fashion with the latest.

Yeah good morning I -- -- mister Geithner will be here in Berlin to meet with current German finance minister Wolfgang tribal.

And then from here -- go along to Paris somewhere and try to meet with French president Nicholas Sarkozy.

And we'll also be meeting the leaders of Spain and actually but -- -- -- lecture -- not -- a lot.

-- not giving a whole lot of the media who are traveling and that we are up.

Understanding that -- shortly you have -- off skewers and officials to -- decisive action to.

Potentially backstop bank currency and try and resolve -- debt crisis as quickly as possible.

They'll probably also -- -- leader of the banks that will give markets competent.

Prepared no EU countries will default about the European banks will remain open critical of course an early trip to Europe.

But for the global economy and the US economy.

-- -- ultimately had his wife to -- European Central Bank to take all the crisis action to resolve the crisis.

There was a story in the Sunday Times that suggested that the ECB.

-- -- -- Compute some one trillion euros worth of cash into the system based on the fact the eurozone country could indeed agree on closer look at school union.

Basically gonna come with -- -- -- -- Any kind is running out if you don't take action now and when will you -- shortly the EU leaders know they have a lot of responsibility -- back.

To get something done -- -- Look very closely watched economic -- problem armed Friday.

So will -- -- to -- -- will be talking to the media -- is reaping very well live with the financial Anushka maybe we'll get a sense of its total what he's -- Bringing on this order to split to be like over the next three days Merkel will be following all the way -- And we appreciate that's it thank you.

And -- thirty minutes away from the opening bell on Wall Street taking a look at futures there are mixed at the moment -- -- -- up by thirteen the S and -- exactly flat in the NASDAQ is up by three.

Now for preview of the trading day let's go over to the cold and alleviate on the floor of the -- -- stock exchange.

Markets aren't -- that what they wanna get a nickel.

Absolutely that seems to be there were the case at the moment I think if you his point is slightly higher open but we're going nowhere fast.

Very much a wait and see -- -- -- market this morning.

-- do see the commodities pulling back some look at a name like Bank of America -- that was a great -- to see how these financials may move it's slightly.

To the -- -- Bank of America name that was at five dollars and three cents not too long ago in the last few weeks as south.

And has come while up off -- that -- fact close at 65 yesterday but this will be wanted to be a good indication that some of these.

Somebody's -- and financials -- come under a little bit of pressure of course the eurozone is our focus today with all the downgrades.

Link to and everybody knows -- their member IPO was raised over -- Morgan Stanley today to an overweight.

From an equal weight saying that the valuation is now compelling at this point it's fallen.

17%.

In the last month -- -- the same positive price.

And looking at General Electric is another name -- got an upgrade today.

Over at Bernstein to General Electric upgraded.

To an outperform is the Dow component it is one to watch AutoZone as well as Pep Boys Manny, Moe & Jack both of these things.

Reported quarterly numbers AutoZone actually beating the street's got AutoZone here.

Looking a little higher.

And then 3 AM everybody knows very -- I -- creatine got to think of the post it notes and Scotch tape but it's an industrial company so many businesses.

3 am not forecast when he twelve earnings that.

Is.

Slightly -- some great inline actually SA in line around.

Analysts' estimates so that'll be one to watch we could see it is looking a little bit higher and it -- -- -- which may help.

Well thank.

And now let's get the latest on weather from meteorologist Maria Molina are Fox Business weather center hey -- hey good morning van and we do have a close friends stretching from the northeast and into the southeast that's going to be producing some scattered rain showers from Boston out of Philadelphia and also across the city of -- -- Georgia -- already -- some delays -- early this morning.

In New York -- reporting and also -- international airport because of the poor visibility.

And also -- scattered rain showers and grab the umbrella as it's gonna be until they across east.

Angry at banks.

Taking a look at commodities now -- -- above downtime at the morning continues right now on business.

Giving you -- -- across.

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