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Imus in the morning program on the fox -- Good morning everyone looks at things up with a look at the markets here in the US speeches have been to the downside most of the morning.
Averages now down by 29 yes -- down by three in the nasdaq's down almost seven.
Over in Europe Euro -- manufacturing contracted in April at the fastest pace in almost three years.
French and Italian manufacturing also showed contraction.
While the S&P gave Greece a slight upgrade to triple -- into the French and German markets return to trading today after their May Day holiday.
And London's currently down while Paris and Frankfurt are.
At the big -- earnings of we're getting them in now from MasterCard the companies reporting a profit.
Of five dollars 36 cents -- share beating the estimate for five dollars thirty cents.
Revenue came in at one point eight billion dollars the -- and -- there was for one point 73 billion.
Now let's go back to those European markets -- it's moving them with Dow Jones newswire senior correspondent.
Big pain and they casings rather over in London -- they figure it's -- neck it's early.
Euro -- manufacturing sector contracted at the sharpest pace in almost three years and the Euro region's unemployment is at its highest level in almost fifteen years.
Is there any light at the end of the -- be my -- -- neck.
Site currently welcome.
It's it's it really is I've really -- bulk what was surprising is that.
Essentially -- certainly -- my numbers we don't release is not just Clinton over the final numbers just you know current peace dividend just a little bit -- this -- -- that.
And -- we always Spain and -- and those of the two dollars to that release of this market.
Because they were revised down from those original numbers that we -- this just in that those both those countries manufacturing.
In contraction territory -- on and -- to president but he's worried about that they could actually default.
So this all comes ahead of the European central back easing tomorrow on.
Well enough in Barcelona of all places to which is gonna be interesting they want -- to be high security of Barcelona on.
It's gonna put that easy being a really difficult position you know they can be a depression hit talk now about even the -- that I don't wanna do that.
Ahead of elections in France and Greece at the weekend it's -- once again very complicated have.
-- try to bring a bright spot into this as Cynthia upgraded agrees to a triple C rating I know -- still triple C but is there any confidence that we can take from this.
Okay yes it's -- it's -- -- admitted is good news but it.
It's technical -- everybody it expected -- because basically.
From the lump sum of Greek debt so -- did that pull out reception removes some of that -- makes it easier for them to continue repaying that debt that's why they've been.
Moved out of selective default back into triple C so.
It's technical it was expected.
Could -- -- -- back in to ST position.
Let's wait and see what happens with the -- -- on Sunday.
And I back to the bad news Italy's unemployment climbed to a twelve year high what kind of challenge does that present as they try to get a hold of their debt.
-- how the problem and why increase in the you're getting calls from a lot of these government.
So that they can actually need some sort of growth policies that they cannot just continue.
Reducing the deficits -- And that is something that is increasingly becoming a big issue.
Within these countries we've seen on certainly France and it's likely that -- -- get elected president that.
And -- said the ECB seeking.
Opt is like election on Sunday with dizzying -- united he's the president saying -- to.
-- if that trying to every other.
It's not a case of perhaps try to get rid of that debt but I think it's a case plan follows that policy -- because essentially you know.
If you're not.
Encouraging growth if you economies -- -- continue to shrink.
If -- unemployment continues to rise -- is simply not producing enough money to help you reduce that debt.
-- asking for example Spain's needs those taxes to do it.
They case things thanks so -- say guys great having on thank.
And we'll get our first of several employment reports this week in less than fifteen minutes Robert -- -- -- now with a preview of that hey Robert Diane good morning that's right now they European news service at the futures lower.
This morning we'll be watching the US employment in a look at the ADP -- -- from the ADP employment.
Private sector jobs report due out as you said at 815 for April we're looking for 177000.
Jobs -- that is down from the march number that was 209000.
And of course will be to be and I'll what we -- which size of a companies are making.
The ads and also of course on Friday look at the big non non farm jobs payroll report from the government.
-- -- thanks -- PepsiCo raising its dividend to 53 point 76 cents a share Imus in the morning can.
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