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This is this Imus in the morning and on the -- Good morning everyone let's take a look at the markets right now person -- Italy sold four point 75 billion euros worth of 3 year bonds this morning with a yield of four point 83%.
That's down from five point 62 just two weeks ago.
We also just got in results from JPMorgan the company.
Is posting results right now -- reporting a profit of ninety cents per share that came in right in line with estimates.
For ninety cents as well revenue came in at 22 point two billion dollars the estimate there was for 2.3 billion so.
Right in line -- -- on earnings slightly shy of them on revenue.
Let's take a look at market reaction to this futures are still -- mixed at the moment Dow futures are down by sixty S and -- down by one and the NASDAQ is up by one.
As you mentioned a take a look at the European market there are also watching these JPMorgan -- closely trying to see what earnings -- -- But as you mentioned there were also bond sales going on stay with Italy that -- -- A better than expected and European markets are up across the board right around where we left them London's up by about nine points -- up by 35 and Frankfurt's up.
By 2.5 this is the lowest yield for those bond markets that we've seen since September and now let's go over to BGC markets analyst -- -- for some reaction to all this.
-- what -- of impact of these results from JPMorgan likely to have on the European markets.
I think they'll be very closely watched I think where we that we -- -- just come out so I have -- don't look at them yet but.
I think in terms of investment banks on the banking industry -- numbers will.
What will be closely analyzed it's interesting we set about Italian bond auction as -- -- they've managed to.
Sell twelve billion Euro -- Of debt today which is which is that a large sum however -- and then -- the whole three months of the yea it's we have to issue why -- -- hundred billion Euro -- side.
It is good music -- -- to get the -- way yesterday and today we've got a long way to guy.
Speaking of good news some rise in exports and unexpected trade surplus for November.
Health by those exports so what kind of impact do you see that having.
Well I think economic thanks is also being -- the analyzes pretty mixed and and I think that the situation is it betterment out of the states than it is out of Europe.
I'm particularly Germany the -- -- to GDP figures out of Germany have.
Has been very concerning.
And the cool britney's -- would be great I -- I think in terms of the U tank.
The Tesco and profit warning yesterday was really very dramatic contest -- -- parts continuing to full.
Idols -- -- -- -- that massive drop makeup in the -- is today but saying that that cutting jobs and that taking big restructuring cop.
Charges for a couple of that that -- a couple of -- say.
You know the coking coal britney's hasn't been great the last couple of days -- also the UK could have -- Engineering manufacturing company -- in bad says.
He's had a very significant profit warning in -- -- massively and that's -- Markets -- quite nervous of companies that do issue profit warnings and environments.
All right -- thanks.
Bank of America and may be looking to scale back pressure its presence rather across the US.
According to the Wall Street Journal the bank -- told US regulators if its financial problems get worse.
It may pull back from some parts of the country the journal says the move is part of the list of potential emergency option that also -- -- includes.
Selling separate class -- shares based on the performance of its Merrill Lynch unit Reuters reported last month that -- they was also considering selling assets to shore up its capital levels and keep up with competitors.
And apple -- things -- outrage in China this morning after pulled the plug on the debut of its iPhone four S there.
Angry customers through -- that one of the company's Beijing stores and got to fight with police.
After they were told this morning the storm would not be selling the phone after all several shoppers expressed anger over standing in line overnight in the cold apple said due to the size of the crowd.
It was concerned for the safety of its employees and its customers -- and the customers themselves.
The company was -- out of the four -- at all of the other Chinese stores now says it will halt retail sales of the phone in the country but for the time being people can still ordered online.
The iPhone four S is debuting today in -- -- one other countries as well.
And General Electric has reportedly suffered a major leaguer blow.
According to Reuters a federal judge refused to throw out a lawsuit accused in the conglomerate of misleading investors.
Those investors say the company and CEO Jeffrey Immelt withheld information about GE's capital finance arm.
And its exposure to risky debt through the 2008 financial crisis the -- specifically focuses on a six month period -- GE's stock fell from roughly 26 dollars to ten dollars.
Wiping out 150 billion dollars in market value.
Let's take a look at commodities now oil and gold are both down.
-- down about 33 cents hovering around 99 dollars a barrel gold is down nine bucks at 1638 an -- Imus in the morning continues right now on Fox Business.
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