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Futures Up Ahead of Weekly Jobless Claims

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    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 5:09
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This is this Imus in the morning.

I'm on the fox.

Good morning everyone investors will be watching several pieces of economic data out this morning.

For starters we'll get the latest read on the labor market with weekly jobless claims 356000.

People are estimated to -- filed for jobless benefits for the first time in the latest week.

That's down slightly from the prior week and it would also mark the ninth straight week.

Below 400000.

Which is well most economists feel is the level needed to bring down national unemployment.

We're also watching for inflation on the whole -- level economists expect that producer prices rose half a percent in February from January.

The so called core index which factors out food and energy is expected to be up zero point 2% and will also get the latest reading on manufacturing in the New York region.

This month empire manufacturing index from the New York fed is expected to come in.

At seventeen and a half as down slightly from February's reading which was the best in a year and a half.

We'll have all of those reports for you at 8:30 eastern let's take a look at the markets now ahead of all that here in the US because -- been in the Green.

Dow futures are now up by 32 higher than we saw them earlier yes and beat up by or and the nasdaq's up by nine.

Over in Europe Fitch ratings company downgraded the UK's outlook to negative and is warning that it could downgrade.

It's triple A credit rating in the next couple of years that the country -- -- contain its expansion of public debt.

You can see markets there are mixed London's down by two Paris is up by a little more than one.

And Frankfurt's up about twenty let's take a closer look at what's moving those markets with market that -- chief economist bill -- -- Over in London bill we have jobless claims and the latest reading on producer prices coming out less than thirty minutes.

How -- are investors over there watching those numbers.

Well this is the key -- because one of the things we're looking that is he will inflation -- to pick up again at the what the FOMC said.

Failing that rates will not move until mid twenty -- but -- and what we've talked about it seems like week after week after week again.

Volumes are probably anywhere from thirty to 35%.

Below normal not only in the equity markets but in the far blocked foreign exchange markets and in the bond markets and it really is a situation -- and to be honest we're still very confused that this -- now for our time differential between the UK in the US but it really is a question.

Everybody and -- and it may be another two or three weeks watching and definitely waiting.

And -- we also have Fitch downgrading the UK's outlook over debt concerns and we think the ratings firms have lost a lot of credibility lately but.

Credit -- decide how bad is the country's exposure to public debt.

-- very much our guy and I mean this is a problem not only in the UK but in the Euro -- in the US but really isn't a question up.

That only telling us that maybe I shouldn't be -- this on television what we hear the UK have already know.

But I thought it quite interest think that they do -- less than one week before the chancellor goes before the UK.

Populist and gets the budget for 2012 so it really is going to be a question up.

Probably all.

Chancellor Osborne is going is probably writing re writing re writing and rewriting and pencil his budget proposal -- 2012.

Where do we go had a we do it but it's really a key they're not telling us anything we don't know whether it be the UK -- globally we passed peak yet.

-- debt down our right bill will guard over in London thanks bill.

And we have some breaking news for you now Cisco has just announced that it has an intent to -- an Israeli company -- NBS.

For roughly five billion dollars and -- is based in Israel it makes software for pay TV networks.

And -- court the parent of Fox Business Network does own 49%.

That company we had said reports throughout their earlier that they were in active talks to buy at Cisco looks coming out saying it does intend to buy and -- For five billion dollars meanwhile foreclosure activity appears to be picking back up again in some parts of the country.

According to realty track overall foreclosure filings were down 2% in February from January.

And 8% from a year ago.

But the activities shifted the firm says depending on the structure of the State's foreclosure process.

So in states where foreclosures must go through the courts activity jumped 24% from a year ago.

But it tumbled 23% in nonjudicial states.

And Google is revamping how it search and in hunts for answers on the web in order to stay on top in the search market.

Wall Street Journal reports over the next few months Google will provide more relevant answers to -- searches.

But presenting more facts the journal says -- changes to search are among the biggest in the company's history.

They could also affect millions of web sites that rely and Google's paid ranking results.

Along with advertising and Google spokesman declined to comment.

Here's a look at commodities now oil and gold have been up all morning -- like the markets not by much we're -- seeing oil up by about thirty cents at 105 a gallon gold up by six bucks.

At 1648.

-- them.

Coming up this hour Imus is gasoline Bernardin of Eric and -- home Imus in the morning continues right now.

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