Fox Business
Expand
Browse All Video
Watch Live

You're watching...

S&P Downgrades Greece’s Debt to Selective Default

Details

  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 5:04
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

This is very.

Imus morning program on the Fox Business.

Good morning everyone we have several -- the economic data coming out today that investors will definitely be keeping a close eye on.

And for a preview of all that let's go over to Robert -- in our newsroom now with all of those.

Numbers hey Robert made analysts -- -- for durable goods -- be out of 8:30 eastern now probably fell for the first time in four months.

This is -- January reading after finishing died the year 2011 with -- pretty robust reading about 2.2 percent in December the January number expected to slide down about 1%.

We back out transportation not orders -- would expect to be unchanged them measure of business spending by the way expected to rise by four tenths of 1%.

We should note note that this is a very volatile numbered frequently revised will be keeping a close -- -- December numbers -- there any changes to that as well.

On the home price is now the case -- widely followed index of home prices.

That will be -- 9 o'clock eastern time the twenty city index expected to show a decline at nine tenths of 1%.

In the month of December from November on a year over year basis so looking at a drop of a little more than three and a half percent -- -- -- home prices down.

About 1% in January according to the Commerce Department -- existing homes for January on the media prices down 2% from the prior year according to the national association for realtors.

Of realtors rather -- -- -- -- get the latest reading on consumer confidence.

Diana -- actually expecting that to tick up despite the big jump in gasoline prices this month 63 even as the testament.

That's up about two points from January's reading -- of.

Our average -- has been -- this morning absolutely.

Let's take a look at the markets now here in the US because have been up across the board all morning Dow futures are up by 38 yesterday's up by four and the NASDAQ is up.

Almost eight points over in Europe.

It really sold six point 25 billion euros worth of bonds at yields lower than previous options report also showed.

Reports rather from the eurozone also showed businesses and consumers were less downbeat this month and German consumer confidence edged up slightly.

In a march survey as well you -- -- markets there are in the Green and not by much London's up by seven points -- is up by eleven and -- up by about 23 points.

We're also getting in earnings and from AutoZone right now the parts retailers reporting a profit of four dollars fifteen cents per share.

That beat the estimate of four dollars four cents.

Revenue came in at one point eight billion dollars that was also be.

The S and it was from one point 78 billion.

Now let's go back over to those markets and take a closer look at what's moving Europe with help from Barclays wealth equity strategist -- Potts over in London Hank.

We have as in.

ECB now saying.

-- except Greece debt.

Greek debt as collateral -- until March how concerned should investors be about both the downgrade and the ECB's reaction to.

Well I think the biggest -- is about those further scope full Greek debt to be downgraded quite frankly at a -- and there's very little room to maneuver.

In that ripped off.

We expect when you look at market reaction it wasn't too much is of a surprise to downgrade -- about the European Central Bank has decided not to accept.

Greek debt as collateral.

Does very little to change in liquidity position to -- -- because.

And eligible collateral can be replaced with -- emergency funding says in -- needs in relation to that.

Helping to smooth this problem out the longer term -- -- the most important issue is what we're hear about tomorrow.

That's a long term refinancing operations from the European Central Bank the last -- that they went through this process is a tremendous help.

-- -- banking liquidity.

And also helping to bring down peripheral yields sudden we hope and we expect that banks will be back.

-- of the European Central Bank we think they'll apply for funding -- -- 350.

Billion euros tomorrow.

All right there's the prediction thanks Hank the -- -- over Barclays.

And we're getting earning him from Office Depot the office supply retailers reporting a profit of three cents a share.

The estimate was for them to break evens that's better than expected.

Revenue came in at two point 97 billion dollars just shy of the estimate for two point 99 billion.

And now let's go over to weather premier of Israel -- in our Fox Business -- percent of us an update for -- -- Maria.

Hey good morning -- we're looking at some sunshine across the northeast.

But temperatures aren't too bad for this time of the year 45 -- -- -- New York City.

In the southeast and we'll have some showers around the city -- that ransom but the real heavy duty weather's going to be across the center of the country today what we do have a risk for severe weather across the central.

Planes and also the lower Mississippi Valley large -- damaging wind gusts and even isolated tornadoes possible and across the north central US across the Dakotas and parts of Minnesota.

We could see blizzard conditions and -- and some spots could exceed a let us know also big time -- out there.

All right thanks Maria.

And now let's take a look at commodities oil and -- and makes -- -- down about fifty cents gold up by three bucks.

Imus in the morning continues right now on Fox Business.

Load More