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U.S. Stock and Bond Markets Closed

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    FBN’s Lauren Simonetti breaks down the stories moving the global markets.

  • Duration 4:56
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This morning program on the -- Clarks -- that is.

Good morning everyone the race for the Republican party's presidential nomination is about to get less crowded with former -- -- governor Jon Huntsman set to announce he's dropping out.

Fox Business is rejecting it in Myrtle Beach, South Carolina with the good morning -- any of these primary politics can be funny things one minute Jon -- calls Mitt Romney pretty much on electable and a few hours from now -- the building right behind me.

John -- will be pretty much endorsing Mitt Romney because.

He's electable this is a quote from what of his staff members the best candidate to defeat him.

Barack Obama and -- unity among Republicans to beat Barack -- the reason that he's dropping out of this that's 11 o'clock here.

At the Myrtle Beach convention center here in South Carolina -- -- Johnson was a candidate who gambled an awful lot.

On New Hampshire he finished third some twenty points plus behind Mitt Romney who finished first aides say there was some searching talk to is.

Talk to his family members after that finishing decided eventually that this was the best course we have sum -- reaction from some of the other candidates Rick Santorum speaking just a short while -- -- moderates are now backing moderates.

That's the sort of -- here there's no surprise there Huntsman ran as a moderate and Romney had a leg up on himself.

Moderates tagging on moderates here is what Santorum is saying let's take a look though that sees it working pretty well for Mitt Romney as he leads in the polls -- polls just coming out.

From Fox News Mitt Romney -- 40% way ahead of Rick Santorum Newt Gingrich.

Ron Paul and Rick Perry Jon Huntsman was all the way down and six and now he has withdrawn from the race -- we'll have five candidates tonight debating.

And Republican primaries and I got to tell you South Carolina just a few days away the primaries on Saturday the field is beginning to thin out here there's about a five to ten point lead in the polls right now for Mitt Romney.

There are number of different polls right now that's pretty tough to to what to -- down but you cannot.

Turn the dial here in South Carolina C a commercial break without seeing one of these candidates and their -- back to you.

-- getting really exciting at this point -- -- will continue to watch you throughout the dance Fox Business we'll checking in on the markets right now on this Martin Luther King holiday.

US stock and bond markets are closed but there is trading around the world.

And in -- -- overall market response has been very muted to the S&P downgrade on.

Nine European countries in which France and Austria lost their AAA ratings.

Investors are also waiting France's auction of more than eight billion euros of debt that's in about an hour from now.

Also there's -- summit scheduled for January 28 and round featuring Italy Germany and France that has been postponed until the end of February.

-- tying government says that it has to do it is scheduling conflict involving the French president Nicholas Sarkozy.

Stocks in Europe but basically flat but for more fun.

The European markets which are not feeling very flat I'm joined by nick Hastings.

Dow Jones Newswires -- our correspondent -- -- would you say that SMP and the rating agencies in general are behind.

In the downgrade game and that's why this stock reaction so -- today.

Well I think it's very much actually case in the markets knew about this it was a was kept secret in the world is something -- of already said you know well before Christmas we were expecting -- who just sitting there waiting will come on give it to listening finally the other body brought stop and also about time that actually.

Announce that I after the close of business in New York on Friday.

The markets in Europe and already reacted to it and -- is also the Euro coming down because is only one -- -- So essentially it all became a bit of a much so much despite what's at stake is not only the dollar away but the fact that they've actually -- both these countries.

On negative outlook and I think that's -- -- averages can be done going forward.

Yeah and we have Greece won't.

Come to an agreement and get their bail out that next infusion of money.

Well it looks that there actually increasingly having problems with -- in that negotiations with that -- -- the -- and essentially does -- -- -- -- -- big disagreement now.

Well over over the pricing of new bonds -- negative -- the fact is that on Friday we had talks on the now that the basic hello pot.

That I expected starting on Wednesday the problem is there is no more time for Greece.

They actually need to make a massive repayment in March and they need to get the severe with their private -- -- -- Those PSI.

Together pretty soon -- -- -- -- the next few days the chance of Greek defaulting is -- skyrocket and the markets really start to worry about this stuff.

Yes things -- you said it perfectly so much to watch.

Over the Atlantic and again and -- -- here's a look at the commodities this morning -- the -- gold trading to the upside as you can see.

Oil pushed closer to a hundred bucks a barrel coming up this hour Imus is guest will be political analyst Carl Jeffers.

Imus in the morning continues right now on Fox Business if you.

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