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Imus in the morning program on the Fox Business -- It.
Good morning everyone -- thirty minutes away from the opening bell on Wall Street taking a look at futures ahead of that the opening bell.
They're down across the board Dow futures are down by forty points the S and -- down by about three and a half.
And the nasdaq's down by about nine SEC they are down but not by too much -- we've actually seen them flip flopping sort of back and forth.
Throughout the course of the day taking a look at commodities now -- also down both oil and gold oil is down by about a dollar 86.
At around ninety dollars a barrel gold is down about forty back at 1621 announced but now let's get a full preview of the trading day and for that about a nickel -- -- -- on the -- York Stock Exchange pinnacle.
Hey good morning -- morning everybody senior commodities went down -- the dollar is strong once again.
The Euro dipping still concerns about Italy and other eurozone nations we've had two days in a -- selling.
So we are down for the week kids have the financials coming under pressure yesterday is certainly was a big group that we were talking about -- multiple downgrades we've seen.
Did -- they over -- -- cutting some names this morning.
Much of the same -- without cutting some names -- -- using Citigroup as a proxy here.
But this is a name that is to the downside there you can expect that a lot of the financials.
May continue to come under some pressure.
Also we've been watching solar in particular First Solar -- reducing their numbers for sales and profit and so First Solar.
Is down about 12% today so keep an eye on solar companies.
Today also -- another name on the move -- was reduced over at Deutsche Bank.
And it was cut to a hold.
From a buy rating.
Also keep a close eye on Avon Products that may be -- -- VP that may be a name and an up -- today and that they are searching for new CEO.
Not over the next year to replace the current one -- obviously grappling with -- slow sales and -- and so Avon has been under pressure.
But out right now we are seeing a day where we're -- -- down arrows here.
For the futures and for the commodities and so well at the gate area down arrows for the -- back to -- -- -- -- And an MF global employee is -- the firm's regulator that MF lent out clients' funds before it collapsed and former CEO Jon Corzine knew about it for -- let's go to Robert Gray in our newsroom Robert what happened at the hearing yesterday.
Yeah that's right Dan this is coming from testimony from the fed chairman of the CME group of course -- futures exchange and about Terry Duffy.
And it contradicts Corzine's testimony that he does not know what happened to hundreds of millions of dollars.
A missing client money.
SC ME -- also participated in a phone call.
-- senior MF global employees where in.
One employee indicated.
Corzine knew about the loans that it made for the customer segregated from the customer segregated accounts.
Now Duffy told a senate committee that he has passed along this information to the Justice Department and the Commodity Futures Trading Commission.
Congress and regulators looking into whether MF global illegally use customer funds to cover short falls and some bad bets.
Of their on the failed brokerage firm cannot account for as much as one point two billion dollars.
In missing missing client -- this after filing for bankruptcy and Halloween for his part Corzine of course testify for the second time.
In a week now that he said he did not know where in the hundreds of millions of -- money weds.
They also -- told a panel this former colleagues keeping in mind Corzine himself a former US senator said that he never instructed his staff to misuse customer money obviously.
-- cannot use customer money to cover.
That's made by the firm -- stuck with pretty much the same testimony he gave to the house agriculture committee.
Just last week Diane.
It'll be interesting to see what investigators come up with an all this -- -- banks.
And Joy Global missed Wall Street's expectations with its fourth quarter results.
The mining equipment makers op profit of the dollar 83 cents per share three cents short of estimates.
Revenue of one point 34 billion dollars also fell short.
The company says slowing global growth is hitting demand for mined commodities.
And there's been a shift to lower cost producers -- -- global says it sees demand growing at a more moderate rate next year.
Now let's get the latest on weather for -- meteorologist Maria Molina in our Fox Business by the senate in my area.
Hey good morning saying we're expecting dry weather today again across east of Boston down -- Philadelphia going to be looking at some sunshine highs widespread in the forties.
-- -- -- warmer today across the southeast high temperature as seventy -- Georgia with some sunshine but across Chicago and Detroit.
You have changes today as we do have a strong -- from moving through the -- it's already bringing in some heavy -- out there most of the snow across the four corners -- winding down now and it will continue to wind down throughout the day today again heavy rain headed toward Chicago already reporting some delays.
In -- of the local airports out there.
-- -- thanks let's take one more look at commodities now because they are tanking oil is down by two dollars gold is now down.
By 40 Imus in the morning continues right now on Fox Business giving you the.
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