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P&G Lowers Earnings Target

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 5:05
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This is this Imus in the morning.

On -- Fox Business.

-- -- Good morning everyone -- Federal Reserve is set to wrap up its two day policy meeting today and the big question is will the Fed take more action to prop up the economy.

Many economists expect that Central Bank will extend its Operation Twist program.

The 400 billion dollar program which involves selling short term securities and buying longer dated ones to lower long term rates is set to expire at the end of this month.

The Fed could also push back its estimate for when it will raise overnight interest rates which have been near zero since December 2008.

At its April meeting the Fed said it expected to keep them exceptionally low throughout at least late 2014.

Fox Business will bring you the Fed's policy decision at 12:30 PM eastern followed by chairman Ben Bernanke's press conference at 215.

Checking the markets now here in the US we're awaiting the Fed's policy decision but in the meantime futures -- fairly flat.

Dow up futures are up by three BS and he's up by three quarters of a point lot of nasdaq's up by five.

Over -- the Associated Press is reporting that the head of Greece's democratic left party.

Says it has agreed to support a coalition government and that announcement on its formation should come within the next 24 hours.

Meanwhile Bank of England policy makers have discussed expanding its asset purchase program.

And stocks in leave Europe occur in the next London and Frankfurt are up while Paris is down -- -- a closer look at why.

With ETX capital had an index and equity market making mark priest.

Over in London mark.

We have word on his -- coalition government potentially coming in the next 24 hours.

How encouraging should -- be to investors that Greece is moving faster than in previous efforts to get this government in place.

I don't know I think the idea that he would have a choice very very very -- -- -- -- falls to us troops to sort of -- market.

I'm but I think -- oversee election outlooks on February.

It is -- of old news we I think people are now looking forward soon.

Took out some stimulus from from the Fed models that are isn't much better be.

Good good MPC in the UK possibly.

You're flexible malicious and this is a lot of nothing else really what's the average over the market.

-- decreased orders a -- -- sort of Donna Dawson.

-- also reportedly going to allow the Euro zone's bailout funds to by the sovereign debt of troubled European countries but that would be reversal of its previous stance so what do you make of that.

-- again this is one other things that they distraught in the markets limited and it is a change of policy.

Both frauds or Marco.

Do the front -- their pets amendments that some sort of familiar seven million FSF.

Obama and I think this is a picked up big change -- -- -- pick carved out from the Germans because this is a stimulus that took you are proving to people.

All right mark priest -- -- capital over London thanks mark.

And President Obama says he believes that Europe has the ability to handle the region's growing debt crisis take -- listen.

I'm confident that.

For the next several weeks.

Europe will.

Paint a picture of where we need to go take some an immediate steps.

That are required.

To.

Give -- that time and space.

Edge based on the servicers.

That I had you here today in the conversation that better over the last several months.

I'm confident that they are very much committed to the European project.

The president made that comment as he wrapped up the G-20 summit with fellow world leaders yesterday.

European leaders are expected to outline their next steps in addressing their debt problems during a summit next week.

While President Obama stressed that the region will resolve the crisis on -- -- he admitted it will impact the US which does not -- control.

Over how quickly leaders -- act he also admitted.

That Europe's economic situation could impact his reelection chances.

But that he's hopeful voters will acknowledge his own efforts to strength in the US economy.

Shares of Procter & Gamble are under pressure in the premarket after it cut its fourth quarter forecast the company says it now expects earnings of 75 to 79 cents a share.

Down from seven 85 cents analysts are looking for 82 cents.

P&G also says it expects organic sales growth for -- quarter to be up two to 3% year over year compared to the prior range.

A four -- 5%.

The company reiterated its plan to deliver ten billion dollars in cost savings by the end of fiscal 2016.

And that plan includes cutting roughly 5700.

Non manufacturing jobs by the end of fiscal -- -- thirteen.

News -- estimated two billion dollar takeover bid for Australia's largest pay TV service consolidated media holdings.

News -- the offer breaks down to 350 a share which would be a 14% premium.

To consolidated closing price yesterday the deal included 2.5 percent stake in pay TV operator fox tell which would double news -- current position in that company.

News reports is the parent company of the Fox Business Network.

Here's a look at commodities now oil and gold are both down oil down but just barely damages the penny there at 84 dollars a barrel.

Imus in the morning continues right now on Fox Business giving you the power to prosper yeah.

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