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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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And Asia the market -- -- overnight some concern about the European debt situation in the rising bond yields over and Spain another place but the Nikkei 225 is down almost 2% pretty big drop.
Things look better though whether it's here or in Europe the major European averages in London in in Paris and Frankfurt Germany are all higher.
So far this morning and our futures indicating.
That our market could very well open up higher with some earnings to get -- between now and then which we'll bring you as they break but the S&P futures are up about five points and oil's been selling off a little bit this morning let's take a look at it right now still down 37 cents and gold -- down just about eleven dollars.
-- said -- has more business news or you're out of our newsroom hi Diane and I day -- -- Goldman Sachs has unloaded more of its stake in Industrial & Commercial Bank of China.
The bank -- 2.5 billion dollars worth of shares of the Chinese firm most of them.
Went to a state owned investment group from Singapore.
That leaves Goldman Sachs -- less than three billion dollars in IC BC shares or a little more than a 1% stake.
In that company Goldman originally purchased a nearly 5% stake in 2006 for nearly two point six billion dollars.
And a free trade agreement between the US and Colombia is officially set to take effect next month.
President Obama and Colombian president Juan Manuel -- dose finalize the deal yesterday.
During the summit of the Americas in Colombia President Obama signed off on a plan in October but implementation.
Relied on Columbia taking steps to improve workers' rights the deal calls for the elimination of most of the duties imposed on US exports.
A farming and manufacturing goods sent to Columbia.
Union groups like the AFL CIO have opposed the deal arguing that Columbia won't be able to enforce those worker protections dating back to thank you Diane.
I -- busy week certainly on tap in Washington DC yet several hearings on the scandal that's that rocked the General Services Administration GSA which we've been reporting up.
Rich Edson in DC with a preview of what we can expect.
Well in Washington this week hearings and taxes and specifically hearings on wasting tax money.
A handful of congressional panels are preparing to hold hearings on the general services administration and its extravagant spending on a conference.
Travel and events in Las Vegas and Hawaii.
The federal government created the GSA to ensure high quality and cost effective government for taxpayers.
And -- congress returns this week the senate votes to raise taxes the house votes to cut them.
This evening the senate votes on the president's proposed Buffett rule it's -- tax measure.
Curbing deductions and lower investment income rates ensuring millionaires have an effective tax rate.
Of at least 30%.
The joint committee on taxation says -- raise about forty billion dollars over the next ten years Republicans call -- a political stock.
In the house Republicans are pushing a tax cut aimed at businesses with fewer than 500 employees.
Republicans say the deduction is worth 20% of their active business income part of their job creation plan.
Congressman Chris van Holland a leading house Democrats is mostly larger businesses.
Would benefit from the cut.
And even though congress is back in Washington and much of the focus here is on the campaign trail -- president Barack Obama.
And governor Mitt Romney -- squarely focused on one another and November's election.
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