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This is the Imus In The Morning Program on the Fox Business Network.
Now, here's Diane Macedo.
Good morning, everyone.
Jobless claims for the latest week rose to 362,000, while the estimate was for them to stay the same as the prior week's number which was 351,000; now, that prior week was also revised higher to 354,000 but despite those numbers coming in a little higher than we originally expected, that does mean we remained under the 400,000 mark for eight straight weeks now.
Meanwhile, earlier this morning, Outplacement Firm, Challenger Gray & Christmas re-forwarded that employers' announced plans to layoff nearly 52,000 people in February, that's a drop of 3.3% from January; also, tomorrow, we'll get the big monthly jobs' report, employers are expected to have added 210,000 jobs to non-farm payrolls in February.
We're 30 minutes away from the opening bell on Wall Street, taking a look at Futures, they have been in the green across the board all morning but we are seeing them a little lower than we saw earlier.
Dow Futures are currently up by 60, the S&P's up by 9 and the Nasdaq's up by 16 but let's get a full preview over the trading now from Nicole Petallides on the floor of the New York Stock Exchange.
Hey, last minute, I'm trying to read (Passion's?) comments so over at UBS, head of UBS for Trading and basically talking about the Greek Teal, and how it's got Europe bubbling some; we do have the Euro higher and the challenge traders staying in the bowl and that's certainly the type of environment that we're seeing.
Right now, we're seeing futures going into a higher, open-bank, sort of looking good, names like Bank of America and Citigroup have some up arrows, we're also focusing on earnings so we had both H&R Block, and Men's Warehouse, both of which actually came out with some numbers that were a little bit disappointing, missing some of the analyst estimates there so H&R Block, Men's Warehouse, two names to keep a very close eye on; and then we talked so much about Pandora yesterday, Pandora got crushed, trades here to my left, who's down 24% all day long well, it's bouncing back a bit, it's certainly not bouncing back 24%, it's bouncing back about 2% but there was so many high for Pandora, right to put it on the smart phones and the tablets and such and you could see it looking a little bit better today.
McDonald's, we talked about the global sales, and the February global sales actually trailed the estimates and it's not a surprise, Europe came in to a slower growth so that is not good news, so Europe weighing on Mickey D's; and then, General Electric getting some positive comments from Citigroup so that looks another Dow component, both are Dow components, McDonald's and GE; so, that is looking higher by about 1%.
I also see a couple of other names like American Eagle Outfitters and Potash looking good today; and UAL, the airline, William-Sonoma, and AIG looking a little bit lower.
Diane, back to you.
All right, Nicole.
And Greece's government is giving a positive outlook for it's bond swap with private debt holders as the deadline for that deal approaches today.
Reports say that government officials are optimistic about the swap and that the country is close to getting the 66% of bondholders on-board that it needs for that deal to go through, and the deal would swap nearly 271 billion dollars in bonds with new securities that have longer maturity rates and about half the value; Greece has until 3 PM eastern to hit that 66% mark and keep in mind, it needs these debts will have to go through in order to secure a 170 billion-dollar bailout and avoid a default later this month.
The government meanwhile here in the U.S.
is taking a major step toward unwinding its stake in American International Group, the Treasury Department says it will sell 6 billion dollars worth of AIG stock, it also struck another deal for the insurer to pay down 8-1/2 billion dollars more in obligations.
AIG received the biggest bailout by taxpayers during the 2008 financial crisis and the stock sale is expected to reduce the government's ownership to about 70% down from 77%; now, the Treasury says AIG plans to buy as much as 3 billion dollars worth of the stock being sold, AIG shares though are lower in pre-market trading.
And the Justice Department is planning to sue Apple and five of the biggest U.S.
publishers for allegedly colluding to raise the price of eBooks, that's according to the Wall Street Journal which says several of the parties have held talks to settle the Anti-Trust Case, a settlement could potentially lead to cheaper eBooks for consumers but not every publisher is in the settlement talks; there in the publishers have denied they acted jointly to raise prices and those publishers include HarperCollins, a unit of News Corp., which is of course the parent of both the Wall Street Journal and the Fox Business Network.
Here's a look at commodities, now oil and gold, like the markets have been in the green all day; oil is up by almost 40 cents, around $106.00 a barrel; gold's up by almost $12.00 at 16.90 an ounce.
Imus In The Morning continues on Fox Business, giving you the power to prosper.
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