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Wisconsin Gearing Up for Recall Election

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  • Description

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

  • Duration 5:05
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This -- -- Imus in the morning.

Morning everyone let's take a look at the markets here in US futures have been searching for direction this morning.

We southern in the red across the board earlier today now forcing Dow features flat while the S and in the NASDAQ.

Have climbed into green territory this after stocks plunged Friday after that.

Major.

Jobs report disappointment all of the indexes fell more than.

-- two point two percentage points there over Europe stocks reacting too weak economic data from China UK markets are closed the queen's jubilee holiday.

But does stocks there are makes -- is up by 21 while Frankfurt.

Is down by 26 definitely off earlier lows and now let's take a closer look at what's moving those markets.

But markets dot com chief economist bill who -- joins us.

By phone from London bill both Spain and Cyprus are now hinting that they're banking sectors will need some kind of the bail out at the very least some major help.

Did this confirm the contagion economists had been fearing.

All along -- -- this is the real thing -- -- the region do about it.

Well -- you sit down and this confirms a municipal attractive we got.

We got word about Greece Greece's third -- right now Spain and Portugal of the problems like one of the things were looking at it.

After Friday's disappointing data out -- in the US and China.

I don't think she we will move that it could you could -- but -- -- and probability ECB would cooperate that the allied.

And it's not just the eurozone billion a data out of the UK keeps patty painting -- worst picture for the economy there does that increase fears.

That all of this contagion could actually spread globally not just in Europe.

Well I think that's what we've seen here in the UK now -- Six months or so waiting on the government decision the Bank of England has been telling upwardly fix what.

The completion here and that's what the bank -- will be discussed on third.

I don't think it's I think it's too soon or another when he got billion Q week.

But I'd do it after the red meat on the -- he -- -- I do expect the anchoring of copy of the next.

To what -- -- extra give a look another at least.

When he got billion of quantitative easing here that you -- it's a true global contagion right now -- any credit incumbent -- I don't know what they've -- cricket.

Higher Ed bill -- -- making predictions live from London thanks bill.

And voters in Wisconsin will decide tomorrow whether governor Scott Walker will be recalled and the -- that contest.

Could offer a preview as to whether President Obama will be able to take the state in November's general election -- this is Jeff Flock.

Is live in Milwaukee now with all the details on this -- good morning -- What do drink and Diane in Milwaukee's usually here although not this early this morning Natalia it's going to be a busy day today though with the both.

A Scott Walker and his democratic challenger Tom -- the mayor of Milwaukee Criss -- the state will be with them.

At multiple times throughout the day today as they try to make their case let's say you know you you asked that question about is this kind of a precursor of what could happen.

In November in some ways maybe not here's this the thinking on -- -- a lot of people of this state.

Who are not big supporters of Scott Walker but are not supporters of this recall effort they don't feel that.

It rises to the level of something that someone should be recalled over.

And consequently.

They may be inclined to either vote for -- or not vote at all today but they still may be Obama's supporters and the fallen back the latest polling August.

Does indicate that although Scott Walker is leading over democratic challenger in the polls.

In the governor's recall race President Obama continues to lead the polls here but if Republicans win this one.

It's gonna be a big win and it's gonna be seen as a little bit of momentum heading toward default.

And Jeff very quickly get any concerns that this could sort of inspired -- and other politicians that want to stand up to unions.

But yet I think -- this I think it you know because obviously other politicians have done this the governor of Indiana has done this governor.

Of Ohio has done this and that could be a little fear there you know they to try to recall several.

House members here and senate members here as well.

So what -- this becomes kind of contagion -- recall.

I don't know that anybody thinks that's a great idea -- the democratic challenger -- said we've had enough of this election crap.

That's a quote by the.

Because come -- right.

Jeff -- sticking to -- theme of contagion thanks so much -- live from a -- Thank them.

And here's a look at commodities now oil and gold are both down now we did Siegel climbing to green territory earlier this morning.

But now -- back down around ninety cents a barrel gold is down by little more than a dollar trading at 1620 an -- Coming up this hour -- -- canceled the author and historian Doug Brinkley Imus in the morning continues right now on Fox Business.

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