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Eurozone Finance Ministers Say Greece Must Cut 325M Euros
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FBN’s Diane Macedo breaks down the stories moving the markets around the world.
- Duration 4:50
- Date Feb 10, 2012
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FBN’s Diane Macedo breaks down the stories moving the markets around the world.
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-- -- -- -- morning program on the Fox Business.
Good morning everyone violent protests have erupted in -- after eurozone finance ministers told Greece's parliament.
To sign off a new austerity measures if it wants a 170 billion dollar bail out the protests come as part of a two day strike by -- public and private unions.
In response to those austerity measures the finance ministers -- parliament until Sunday to approve the package of cuts and reforms.
Greece also has to identify exactly where.
430 million of the nearly four billion dollars in cuts for this year will come from.
If greets meets those conditions the ministers are set to reconvene on Wednesday to sign off on the bail out.
And let's take a look at markets now here in the US futures are in the red Dow futures are down by 61 ASPs down by nine -- nasdaq's down.
By thirteen over in Europe are also seeing red as investors watch closely what's going on in Greece and what that eurozone finance committee will do.
And meanwhile us stocks are down as I said London down by -- six Paris is down by 33.
And Frankfurt's down by 76 almost 77 points -- now let's take a closer look at what's moving markets with Louise Cooper beat ECB target over London.
-- -- Greek lawmakers have until the weekend to sign off on these austerity measures needed to secure.
A new bail out but looking markets investors don't seem to confident that will happen -- is that.
What we -- -- baucus a slightly weaker today ops and now we have from the polling bad news on Greece and they -- shrugged off.
I think to a certain extent they -- god.
Greece is being sold to fire -- thanks to the ECB's three and money this LT all my money protecting the banks.
Because the consent was always a banking crisis and -- -- -- the banks.
If if Greece spelled -- and say -- of the moments of in market cap names -- it seems they seem to be in the mood for love despite women ahead of Valentine's Day.
Markets that -- everything optimistically.
Even given the wolf -- -- today you know went back all this level.
Are they are I have read out not to the -- -- the same rebound and they ended -- markets but.
Let's -- -- China that trade surplus there expanded sharply in January and that's impacting global markets as well.
But economists say the numbers were likely distorted by the Lunar New Year there's so how should investors interpret them.
Well yet imports down 15% -- today does suggest the economy is slowing dramatically.
Having said that you know on -- -- -- -- -- New Year's 671 -- but clearly that you -- yet numbers than anyone yet numbers -- three different -- yes -- I I think.
The that you know the -- -- -- with Chinese space is that it's an enormous country.
With with face I wouldn't quite -- -- misplaced as always question marks about how.
That they track speed -- -- you know reflect Leon underlying economic conditions and an environment.
It is.
The two big questions in the weld is what's gonna happen to the US and how -- Is the Chinese economy -- Gannett latins and I think all -- not respect.
I'm speaking to somebody has very good relationships in China it is will be the -- -- always.
Right now we know not domestically -- she's not taking any excuse -- and I thankfully there have not.
And the chairman of the house financial services committee is reportedly being investigated over possible insider trading violations.
Published reports say as of late last year the office of congressional ethics has been reviewing trades conducted by Alabama congressman Spencer Bachus.
In a statement -- -- says he welcomes the opportunity to present the facts and set the record straight.
News of the investigation came out as a high house overwhelmingly passed a bill that explicitly bans congress and the executive branch from insider trading.
Still the chamber brushed aside a senate plan aimed at Washington insiders.
Who get financial information from congress and then sell it to investment firms.
The measure will now likely go to a conference committee.
Where supporters of the extra provision will try to happened restored.
And we're watching shares of Linkedin which are higher and the premarket after the company topped Wall Street expectations with its fourth quarter results.
The social networking website reported an adjusted profit of twelve cents a share up from five cents a year ago and better than the 107 cents analysts were looking for.
Meanwhile revenue more than doubled from last year to 167.
Point seven million dollars which beat the estimates of 159.
Point seven.
The company says it added another fourteen million users during the quarter bringing its total membership to 145.
Million.
For the current quarter Linkedin says it expects revenue of 170.
To 175 million dollars.
You meanwhile Wall Street is looking for 171.
Here's a look at commodities now oil and gold.
Are bowed down oil's down by about dollar forty at 98 dollars a barrel gold is down almost 21 dollars at 1720 announced.
Coming up this hour Imus is -- to be journalist and author Matt I EB Imus in the morning continues right now on Fox Business.