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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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Imus in the morning.
On the -- Good morning everyone leaders in Greece have reportedly reached a deal to establish a conservative led government there.
Meanwhile in Spain anti austerity protesters are set to take to the streets today.
Fox Business is that she Webster is in Madrid Spain as we speak but -- before we get to Spain.
What's the latest set of Greece.
All night to morning to you -- and yes indeed just a short while ago -- leader of the facade party of -- Venezuela also announcing -- -- in fact does have.
A coalition government they have yet to appoint the cabinet positions but he announcing that in fact -- do have an agreement were expecting to get more details later on today.
A big question was no one really wanted to be Greece's finance minister -- blame them because.
It's that monumental job but we understand whoever that person is will attend.
The meeting of EU finance ministers in Luxembourg starting tomorrow but as you say we are here in Madrid Spain a lot of eyes on Spain on a lot of concerns of this country's.
Ability to repay its debts is being compromised as we note that was promised by the year of some 125 billion dollars was Spanish banks at a weighed down by these bad housing loans but the question is as the debts rise how is that Spain -- available afford to pay back the money when its borrowing costs on the ten year note.
Have risen to some 7% and still hover around that level which is considered.
Basically unsustainable.
Nationwide protests planned for this country later on today both here in Madrid and throughout the country.
Unions especially upset over changes in labor laws but they're also concerns about changes to health and education laws.
But these painful it changes have to be made say the Spanish leaders in order for Spain to bring that to bring down it's a massive deficit.
So of course Spain is no Greece Spain is a huge economy the fourth largest in the Euro -- And that's why there -- so much concerned about the economy here critical swing here the coverage throughout the rest of the week -- Diane back to you.
Me very much appreciated national keep checking -- with you Iraq today thanks so months.
And the Federal Reserve is set to wrap up its two day policy meeting today the big question is will the Fed take more action to prop up the economy.
Many economists expect that the 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.
It's 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 through at least late 2014.
Fox Business we'll bring you the Fed's policy decision at 12:30 PM eastern followed by chairman Ben Bernanke's press conference at 215.
Let's take a look at the markets now in the US we're -- that fed policy decision but ahead of that.
Futures are in the green not by much but they have reversed direction we're seeing -- -- -- -- Dow futures are up by twelve yesterday's up by about two and -- nasdaq's up by six.
Over in -- in addition to the news on -- the Bank of England policy makers.
Had discussed expanding its asset purchasing program stocks in Europe are currently mixed with London and Frankfurt in -- -- Paris.
Still in the red -- let's take a look now at what's moving those markets with Schroeder's equity fund manager Andy lynch.
Over in London -- we have a deal reportedly reached on his Greek government with leaders set to be sworn in later today what's the next step.
With this her -- behind them.
I think the.
That the next step once the make government has been established is there was an -- sit down with the European Union the IMF and.
Come to.
-- -- agreement on the the terms of the day out basis or -- -- in the election.
Clear they want to to renegotiate the.
-- out and it seems very very likely that agreement can be reached two.
Delay some of the austerity measures by -- by two years just say that the -- on the Greek economy is less intense.
And -- as we've mentioned we're -- the Fed's policy decision later today what are investors there.
Looking to hear from -- Central Bank today.
-- -- -- -- -- -- that the key things -- we will we will be looking for all.
It this -- could signs that the bet that the Fed is has got a plan to get the US the US economy back to a solid sustainable way trade.
The US -- commission if the world economy and -- the US -- grain is going to be very hard for you -- to deal with -- problems -- the rest of the world to deal with its problems.
Right at Andy lynch it live from -- it is in London thanks so much -- -- -- quick look at commodities now oil and gold are mixed Imus in the morning continues right now on Fox Business.
