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This is very Imus in the morning.
On the phone -- Good morning everyone it looks like Americans save -- money in December personal incomes for the month rose zero point 5% while the estimate was for an increase of zero point 4%.
Spending on the other hand came to a halt and was unchanged that the weakest reading since last June economists were expecting a rise of zero point 1%.
Keep in mind spending accounts for more than two thirds of the US economic activity -- thirty minutes away from the opening bell on Wall Street taking a look at features of the European summit gets ready to Begin.
Dow futures are down by one six the S&P down by twelve in the NASDAQ down by 21.
Now for preview of the trading day let's go over to -- -- alleviate on the floor of the New York Stock Exchange pinnacle.
Hey good morning -- that -- morning everybody Lacey were taken out here at all down -- down nearly one percentage point last week we lost half a percent it was our first losing week 2012 -- out right now but we did have three greatly.
In a row last week gave back just a little bit today you have the futures pointing to a slightly lower open as we noted you -- -- Bank of America pointing to a lower open is the dollars higher commodities are pulling back Pep Boys Manny, Moe & Jack -- -- love talking about.
Yes -- of course is that the group is buying them for fifteen dollars a share.
The stock -- been soaring.
All morning Long Will also keep a close eye on the airlines oil right now at 9866.
That they airlines in focus -- we talked about several airlines doing well.
And one of the reasons has been some of consolidation in the industry and now there's talk that delta.
May be considering a bid.
US Airways so we'll continue to watch all the airlines.
But today LCC has been a name that's been to the upside US Airways that is.
And then look at the steel claims AC both AT -- and US steel.
To the downside Goldman Sachs this morning savings sell.
US still ahead of their earnings earnings while those of tomorrow was of -- tomorrow January 31 also a -- still getting cut this morning over at Morgan Stanley so coming under some pressure Wendy's.
That's a name that came out with their quarterly numbers and basically using Wendy's here lower.
As they missed the forecast -- not good to miss the forecast is Yum! Brands have been mentioned over the weekend.
In Barron's they -- they have Taco Bell and Pizza Hut and doing well in some of the fast growing markets such as China and India LC Coach was mentioned.
In Barron's over the weekend as well that it may rise as high as eighty dollars us -- CEO age is the name.
The -- -- Coach that luxury retailer so there are certainly some hot stocks to watch that as we noted some of the financials coming under pressure.
And it looks like up -- its but I think we're checking on the lots and -- Back to.
-- -- -- And another company for investors to keep an eye on is FaceBook this week the Wall Street Journal is reporting the company could file initial paperwork.
As early as Wednesday for an IPO coming up this spring.
The journal says the offering could raise as much as ten billion dollars in value FaceBook at between 75 and 100 billion dollars.
Is so that'll put the social networking site alongside major corporations like mcdonalds Amazon and Bank of America.
It's been nearly three months since MF global holdings collapsed and hopes appear to be fading that roughly one point two billion dollars in missing customer money.
We'll ever be found that's according to the Wall Street Journal which says significant amount of the funds may have -- following chaotic trading at the firm.
During the week leading up to its bankruptcy filing.
Many officials believe some and that's employees dipped into a customer count to meet demands for more collateral from creditors that -- growing more concerned about the firm's finances.
-- -- mobile meanwhile is selling its Japanese refinancing.
Refining rather and marketing business department -- -- general for three point nine billion dollars the deal reflects a long term decline in Japan demand for fuel.
And a global strategy to refocus on exploration.
Large oil and gas companies have been shedding refining operations the last few years and turning to oil exploration and production in search of bigger profits.
Now let's get the latest on weather but meteorologists Maria Molina in our Fox Business weather center -- -- Hi good morning thank you to -- -- -- have a lot of sunshine for that most of the lower 48 today especially across the southern half of the country where we just had a large high pressure system in place of southeast.
Southern plains and across the southwest and looking -- beautiful weather.
Where it's a little unsettled is across interior parts -- the northeast we have some lake effect snow bands that set up there's one in particular just around the Syracuse area dumping some snow across parts of the New York State -- so be safe out there we could see up to three to six inches of snow up there so that's really the heaviest stuff otherwise very light.
We do have some -- -- as well across parts of Wisconsin including the roadways in across the northwest are storm system is winding down but get ready guys we have a new one coming up Tuesday night.
All right Maria thanks.
Let's take out commodities now oil and gold have been down all day oil down almost a dollar and and 98 dollars a barrel gold down by about seven but at 1728.
And -- Imus in the morning continues right now.
On Fox Business.
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