You're watching...
FBN’s Diane Macedo breaks down stories moving the markets ahead of the trading day.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
This is this Imus in the morning from.
On the fox goes.
Good morning everyone it was another victory -- Mitt Romney over in Illinois last night where he won the primary their fox business's Jeff Flock is in Chicago now.
With more on that and and Jeff I wonder this is a pretty big state -- -- there any sign that this primary run could be over anytime soon.
Well -- depends on who you talk to I mean I think he'd like to think that it's already over its way he talked -- his.
A victory celebration in the Chicago suburbs last night but.
Rick Santorum was not talking at all like somebody you planted -- he said I'm going on the Louisiana we're going on the Pennsylvania.
We're gonna get a boat loaded delegates he said the problem is he does need a boat loaded need to ship -- I.
I said ship load of delegates that is to say he needs a lot of delegates.
He didn't get a whole lot here yesterday he didn't even have a full slate of delegates running because he didn't have filed a million times so -- was even eligible to get.
Enough delegates are a big loaded delegates.
Gingrich and Ron Paul Paul beating Gingrich by a point by the way.
Also sort of also rans in the race but -- -- -- the pressure's gonna be on them I think to get out and Santorum at some point.
Policy gets another significant victory somewhere.
Maybe had in the same direction.
All right -- thanks.
-- -- -- -- say partly the -- apply the we're not on the -- we'll keep -- G -- here.
Checking the markets now here in the US futures have been up across the board this morning we're now seeing -- features.
By about 34 -- yes and he's up by about three in the nasdaq's up by four.
Over in Europe banks oil and pharmaceutical stocks are providing some support for markets there.
We're seeing Green across the board though not huge amounts London's up by seven Paris is up by six and Frankfurt up.
By seventeen meanwhile Federal Reserve Chairman Ben Bernanke is set to appear before congress today where he'll issue a new warning over concerns about the European debt crisis.
Fox Business learned exclusively yesterday that Bernanke will tell lawmakers the Central Bank.
It's still concerned about contagion from the crisis affecting US banks and money markets despite efforts by the firms to limit their exposure.
He also says the Fed is willing to offer additional assistance to Europe if it's needed some lawmakers are concerned that Bernanke hasn't been specific enough.
About possible dangers of Europe's debt problems to the US financial system.
And -- debate today over in the UK finance minister George -- delivering the -- annual budget.
This hour -- expected to cut the top personal tax rate from 50% to 45%.
That affects anyone making 238000.
Dollars or more.
He's also expected to announce an increase in the amount of tax exempt income.
Which benefits lower income citizens and -- will also report on efforts to continue cutting the UK's deficit.
Now let's take a closer look at those European markets and expectations for the budget but BDC partners David Buick joins us on the phone.
From London David we -- have some details coming out about this budget proposal.
-- just touch on are expecting -- time but the top and the bottom in terms of taxes what do you make of that plan.
Good morning -- well this is.
The earned this you couldn't describe -- But it -- the -- is more electric Colin I mean I don't -- an opinion is gonna come as a surprise to that yeah because unfortunately this is the first time that we.
Starting 31 of experienced a coalition government.
So the liberal -- -- have could could certainly see -- 650.
Develop all of them.
Are allowed -- all credit to go along with the fact.
But the heart -- -- tax cut from fifty to 45%.
Actually occurred less than 1% of people.
But these people articles of people who employ a more fiscal economy in the Ukraine needs above all else.
-- stimulation.
And all that -- the department sorry.
And as a quid pro quo very editorial board is going to raise the threshold to somewhere close to 101000 -- Where people -- -- principle it's completely understandable.
-- also Liberal Democrats won't affect what they cool.
And will tax and so we basically is that there -- people who loved very clever squarely in the way Monday.
It could work in this country there should be prepared to step up the plate and -- Which -- then convert people aren't unreasonable but we know giveaways has done a copy for the simple reason not budget deficit is -- potential and we had some disappointing figures this morning from the public sector borrowing requirement which would -- billion worst that we sort of will probably -- in.
But around a 129 billion content wrote them but we hoped would be a 120 billion.
But that is about what eclectic and better than -- -- for years from now but our ratio boring require obvious to dramatically out of sync with the rest the world.
Well we'll see what it comes -- we're expecting that budget and later this hour -- viewed it from BGC partners thanks David.
-- -- -- commodities now oil and gold -- up Imus in the morning continues right now.
