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-- -- -- Imus morning program on the Fox Business.
Good morning every.
-- things up by taking a look at the markets here in the US futures started -- the morning in the green hours seeing red arrows across the board.
Dow futures are down by seven -- and he's down by about two same goes for the NASDAQ.
-- you're at Moody's changed its outlook on European Union's triple -- rating to negative in warned.
It could be downgraded stocks there in the -- across the board as well London's down by almost 64.
Paris is down about 2627 points there in Frankfurt down.
Let's take a closer look now what's moving those markets.
With BGC partners senior market analyst Louise Cooper over in London -- Germany has 7 at the European Central Bank -- to take on the supervisory role for the region's banks.
It would need to be reorganized to ensure that it remains independent in setting monetary policy so.
With ECB meeting this week how likely is it that we see moves in that direction.
I didn't think -- gonna get news on buying king union this week.
-- union is pretty pretty controversial given that politicians like to control.
That I backs.
-- direct them to lead to businesses and direct and fled Tibet and in personal business that say I think union is not an easy policy to get -- -- by.
We all -- -- announcement.
-- that European Commission Platt president next week off site.
Is expected to outline his plans cranking union on the twelfth some next Wednesday that ECB's all the lights on track these bond buying part of -- -- but he comes up with.
And Spain's finance minister says he expects more clarity on conditions and a possible bailout.
For that country in the coming weeks is well kind of timeline -- have here at what point does it really need that money.
The Pope doesn't need like Greece Spain is not Greece doesn't actually need money might now what it needs -- barring costs not short term borrowing costs but long term borrowing costs to come down you know with six and a half -- -- approaching 7% to ten yes Spanish.
Bombs and that's the problem not short flight to that just come down.
Facts -- ECB saying it will Mike Hsu affected Spanish debt.
That it's not imagine what we need to -- the timeline to Spain is the fourth -- -- -- audit of what banking bite out -- calls.
And then the banking bite out and then what we need also to -- to bring down borrowing costs.
It's the ECB to come out with its ground flat.
Yet how it will help these countries in the pod bike skate and then -- the Spanish government to submit to background Platt -- There's an awful lot going on in September it's going to be -- married they've seen wild and -- time September plenty of news of the year a fact.
That indeed really funny for -- to talk about him we would -- -- -- on all of those things -- -- -- -- -- MB DC partners thankfully.
In New York attorney general is investigating -- strategies used by some of the country's biggest private equity firms.
Eric -- -- is looking at a practice that involves converting some fees collected for managing accounts.
It to fund investments resulting in a lower tax rate the move would allow the firms to avoid paying hundreds of millions of dollars in taxes.
Snyderman has sent subpoenas to more than a dozen firms including.
Apollo global management silver lake partners and Bain Capital.
Valeant Pharmaceuticals International buying Medicis Pharmaceutical for two point six billion dollars.
That breaks down to 44 dollars a share a 39% premium.
To medicis close on Friday the cash deal -- Botox competitor did sport.
And other skin care drugs to valiant portfolio that Canadian drugmaker has been boosting its skin care portfolio in the US in recent months and it expects -- dermatology business to contribute nearly half of its revenue once -- deal closes that's expected in the first half of next year.
Auto makers are set to release their August sales figures today and they are expected to keep their momentum going the automotive.
Information web site -- -- dot com is forecasting sales will jump.
More than 70% from a year ago that -- the seasonally adjusted annualized rated fourteen point two million new car sales.
Which would mark the third straight month above fourteen million.
Foreign auto -- expect to see the biggest gains to cars forecasting Ford and Chrysler sales jumped 10% year over year while GM's are expected -- -- 4%.
Let's take a look at commodities now oil and gold are still in the green despite the market -- -- up by 35 around 96 almost 97 dollars a barrel.
Gold is up by about five bucks at 1692.
An -- Coming up this hour Imus is guests will be might look look up the New York Daily News Imus in the morning continues right now on Fox Business giving -- the power to prosper.
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