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House Passes 6-Month Spending Bill

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

  • Duration 5:18
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This is -- Imus in the morning.

On the fox goes.

Good morning everyone yesterday's rally in stocks continuing in response -- the Federal Reserve's aggressive new stimulus to drive job creation.

In the US Asian stocks closed higher with the markets in South Korean Hong Kong rising 3%.

Here in the US futures are up across the board -- welled up features are up by 63.

Yes and he's up by little more than seven the nasdaq's up by sixteen.

This after the Dow surged more than 200 points yesterday to its highest level since the start of the recession -- markets here and today -- Europe.

Banks in mining companies are leading the way and stocks there are also in the green -- up almost triple digits Frankfurt's already -- pairs up by about 71.

If you look at the dollar any other and it's lower so loyal is also up.

Already hit the 100 dollar barrel mark this morning right now we're seeing it just shy of that up about a dollar 64.

The -- closer look at what's moving European markets now with Louise Cooper market analyst.

At BGC partners in London -- Federal Reserve is joining ECB now promising aggressive stimulus to get the economy going.

But while markets are up on this news there are critics that -- -- throwing at the month money at the problem is not the solution what's your take.

I think -- he is a fool would to.

But I don't think that while many -- all options I think it should -- Costs time for the politicians to so the -- out however wife paid up or what QE does is it lets politicians off the hook.

On -- speaking at time Euro finance ministers are meeting in Cyprus.

And some are suggesting giving Greece more time to hit its targets rather than.

Give Greece more money but -- giving Greece more time -- eurozone more money any right.

Well I thought I just listened to some of that the press conference and the troika report I believe with spice to be.

Out beginning at -- or best but it got sick backed affect ten bucks.

And now that bit late to start had not press conference just ten minutes ago -- it.

Could be out.

Need to all type I think the crunch time has come on -- but -- but -- -- -- hit the crux fighting is a question of kicking the can down the -- because they just do not want to make a decision on grace.

Clearly it -- -- its targets and yet -- that he wants to actually say that spell it out.

Now we can be pretty good at kicking the can down rentals if that pattern continues as as Louise Cooper -- thanks so much Louise from London I think I can give.

-- -- And the federal government will once again avoid -- shut down after lawmakers in the house passed a temporary spending bill.

The measure now heads to the senate where it's expected to pass next week after clearing house by a vote.

A 320 -- 91.

The bill funds the government through the end of march and allows them to bypass taking up a spending plan.

But the measure leaves the so called fiscal cliff in place a combination of automatic spending cuts.

And tax hikes set to hit the economy in January.

We'll get several pieces of economic data this morning that includes delays gauge on the retail sector.

Retailers for August are expected to show a gain -- point 7% from July down slightly from the prior month.

Take out the -- component and sales are expected to climb by point 6%.

Also down slightly and will see how much your paying when you do go shopping with consumer prices for last month.

-- expected to be up half a percent from July without food and energy that core CPI is expected to see -- smaller gain of point 2%.

All of those numbers are out at 8:30 eastern time -- as usual have them for you as soon as they cross.

Home -- is closing seven big box stores in China and will focus instead on Internet based sales and specialty stores.

Retailers are facing pressure in China where the slowest economic growth and three years is affecting consumer spending.

The move will result in the loss of 850 jobs and a third quarter charge.

Of 160 million dollars or ten cents a share.

Home Depot started doing business in China and 2006.

When it acquired a chain of stores that was modeled.

On its giant American term part.

Several private equity firms including Bain Capital are interested in taking Staples private sources tell -- in the talks have been preliminary.

-- the earliest.

An actual offer could be made would be later this year being which helped take -- public more than twenty years ago has not commented Staples.

Cut its profit in sales forecast for the year last month due to slower growth in the US economy.

And continued weakness in Europe.

Rivals office -- and office -- are also finding it difficult to sustain or boost sales due to strong competition from both brick and mortar stores.

And from Amazon.

Speaking of Amazon.

Shopping on the site will cost consumers more in California starting tomorrow when the online retailer starts charging sales tax.

Amazon has fought efforts by the state legislator to impose text tax.

For years but the two sides reached a deal last year and -- grace period ends Saturday.

Some consumers are doing some last minute shopping making big ticket -- -- in stocking up.

On essentials California which has some of the highest sales tax rates in US.

Stands to collect as much as eighty million dollars a year in additional revenue.

Imus in the morning continues right now on Fox Business.

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