You're watching...
FBN’s Diane Macedo breaks down the 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.
I'm on the fox.
Morning everyone the big focus today is on Greece says -- -- for fed is prepared ahead to the bulk.
In hopes of forming -- new government the election there could ultimately decide.
In the country's fate in the Euro -- -- -- Business -- -- Webster's live in Athens following all the latest sports.
Good looking like right now they're heading into this election.
Yet -- two days to go before the election and I think every -- to a person understands how important this next general election is a cause they tried this before.
Some six weeks ago and -- unable to form a government I don't think that's an option this time around the big issue is.
Who's gonna win control will it be the leftist party rammed by a Alexis zip -- the F some reason -- who left favour.
Throwing out the bailout agreement with the EU and renegotiating.
-- would -- be the new Democracy Party the Conservative Party -- And -- as some -- asked who say they will work with the EU.
-- bailout plan and would cause that we see the leftist party win Diane it is considered perhaps.
That Greece indeed we'll have to drop out of the Euro zone in the meantime.
The Greek market yesterday's surge some 10% on a rumba.
That the Conservative Party here was actually leading in the polls there have been no official polls for the last two weeks on the -- But just that rumor pushed the markets here higher by some 10% it is again moving higher today.
Modestly so I should say because we have the central bank's last night announcing that they already and were able to take action based on what happens.
In the election here weather than they need to -- -- -- some more liquidity into the financial system.
So there is a lot at stake not only -- in Greece but across the Euro -- And the world economy and -- -- Bank of England Governor Mervyn King said there is a dark cloud of uncertainty hanging.
Over the entire world economy so obviously a lot riding on this events will be here throughout to bring all the very latest news Diane back to you.
-- reporting as Dolly that's really appreciate it thanks.
And investors around the world as -- said we'll keep a close -- and those developments -- -- Greece taking a look.
At markets here in the US they are in the green across the board have been all morning Dow futures are up by 36.
Yes and he's up by two in the nasdaq's up by seven over in Europe.
Moody's downgraded long term debt and deposit ratings for five Dutch banking group saying they'll face difficult operating conditions.
Throughout 2012 and possibly beyond also -- credit rating was downgraded by Egan -- but market thereto are in the green.
London's up I'd -- five Harris is up by fifty and Frankfurt's up -- 88.
Now let's -- a closer look at what's moving those European markets the Dow Jones Newswires see -- correspondent.
Nick Hastings over in London nick.
We've been -- about resell morning but I want to I -- shift for a second and talk -- about Spain because.
-- -- their answers to record highs they're pretty close to the point of no return here officials.
From both Spain and France came out this week calling on the ECB to do more I wonder do you think it's time for the European Central Bank to step then.
Well I think would really gonna have to wait and see what happens on Monday with the results of Greece and I think that's what everybody's he's -- -- that this Spanish yields disease that would have some sense.
The vol ticked back down a little would say things a little bit calm I think that is -- -- down and -- try to sit back and I'm not is because of that group she was talking about that move or whether it was actually -- isn't that chance -- -- -- There I think it was that the new democracy the conservatives will actually win the election about how does help to sort of calm things -- -- -- But back to Spain the key thing with Spain will be.
After the -- election result.
And they have a -- auction on Thursday.
Now will investors make Spain pay more for their money.
Or will Spain actually with everything sought to relax and will Spain be able to essentially get off the -- -- -- -- -- Fish that's sort of got gonna hook him on and you know if -- can't get off things out could turn pretty bad for it.
All right I tried to stay away from Greece but it is the hot topic today they can't help it great analysis is always great talking -- thank.
-- -- And the Hong Kong exchanges and clearing beat out the IntercontinentalExchange.
To by the world's largest metals market place.
They bid for the London metal exchange was more than two billion dollars but that offer still needs to be presented to well let me shareholders and approved by more than half of them.
-- to the exchange's biggest shareholders are JPMorgan Chase and Goldman Sachs will be keeping an eye on that.
But in the meantime let's take a look at commodities speaking of metals.
Oil and gold are to the green have been -- morning gold is now at 1624 announce.
Imus in the morning continues right now on Fox Business.
