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This is this Imus in the morning.
On the -- -- Morning everyone stocks are down this morning as investors react to the disappointing US jobs report from Friday and the weekend European elections.
Here in the US you can -- futures -- in the red across the board -- -- are down.
But it's a little over sixty points -- S&P -- down by about seven in the -- down by about fourteen.
Over in -- those elections added to jitters about the future of the Euro -- French president Nicholas Sarkozy lost in a runoff election to socialist candidate.
Fronts while Milan Greece also voted mostly for two parties that want to change the nation's international bailout terms or even overturn the rescue deal.
-- London is offer a holiday be it to Paris and Frankfurt are both down and let's take a closer look now at why would Motley -- UK director David well.
Over in London David -- fronts while on beat French president this accuracy in this weekend's election.
How could the political changes there impact the overall eurozone and efforts to grade -- and that's there.
Well I think this is -- -- our traders and investors are trying to -- at the moment what exactly is going on we know there was is very cozy relationship between.
Nicolas Sarkozy and Angela Merkel.
And they actually agreed on how they run up to attack these European problem but now you've -- -- while I'm here.
They don't really know what is gonna happen so it's understandable you know the people are taking money out -- the market you know when in doubt take it out and this is really what's been happening in Europe.
Then of course we have -- problems over in Greece and they that there is no overall ruling majority increase of the moment.
And the far right in Greece seems to be exerting a lot of pressure at the moment on the on the Greek government about this saying is we're not really so that too keen on this bailout package in the moment either so there's a lot of confusion in Europe and this is one -- two elections that we really -- need the weekend.
And David what -- challenges is that great collection -- to the country's efforts to implement austerity measures that means been tough for them so far residents.
I think pretty much had the austerity measures is gonna be put on the back burner right now because the -- told -- the moment in Europe is all about this growth come back nobody sees -- talking about the -- the austerity measures on the fiscal compact but just we've which essentially means that these are countries within Europe -- Have to live below that means they they seem to be not talking about that and they say what -- can we get growth from because we know the growth in France is pretty anemic so how.
How is growth gonna come about.
And I have this sneaking suspicion that the ECB will play a very important role -- they will start rolling out more and more money they will be printing money flooding the eurozone economies with money to enable them to grow out of course is going to be very inflationary.
And it could bring down the Euro while bumping down the value of the Euro rather than bring down the Euro itself because nobody wants to see -- collapse of the Euro but what they will do is to devalue the Euro.
Making -- life.
It easier I think for exports is within the Euro zone.
Alright David there's the prediction we heard it from analyses if you're right David -- from Molly full UK thanks David.
Thank you.
And Wall Street and Silicon Valley will come together here in New York today as executives from FaceBook kick off the company's IPO roadshow.
The big question today though is whether CEO Mark Zuckerberg will be there to -- salesman fox business's Adam Shapiro is in Manhattan now with.
-- -- -- -- -- Hello again Diane -- where at the Sheraton Hotel in midtown where at 1145.
PI PO roadshow will Begin.
It's a lunch meeting between invited bankers and potential investors as well.
As FaceBook representatives no word of Mark Zuckerberg.
Will be here at Charlie Gasparino from the Fox Business Network actually broke the story on Friday that he -- not be here but there's still a slight chance he will show up.
Because the investors want to know how FaceBook is going to make money going forward.
Now there's a price target of anywhere between 28.
-- 35 dollars per share the valuation of this company that would be the case would be around 96 billion dollars FaceBook.
Hoping to raise between ten point five and thirteen point five billion dollars when they do start publicly trading around may eighteenth.
This road -- is just the first they'll be a meeting tomorrow and -- and and then it will land in California.
As they get ready to offer the shares of the public Diane.
And -- and Shapira live with a shared in keeping an -- out from.
From Mark Zuckerberg thanks Adam.
And -- -- quarterly results from Avis Budget Group the companies reporting an adjusted profit of twelve cents a share the expectation there was for a loss of one says that the big beast for -- on the earnings side.
Revenue came in at one point six billion dollars and then also just topped the expectation for one point 59 billion.
Now let's take a look at commodities like the markets oil and gold have been down all morning we're now seeing oil.
Led down by about seventy cents at 97 dollars a barrel gold is down about six bucks at 1639.
Announce.
Imus in the morning continues right now on Fox Business.
