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This is -- Imus in the morning.
-- -- -- Good morning everyone is fact check the markets in here in the US futures are in the red across the board this morning Dow futures are down by 26.
The S&P -- down by three the nasdaq's down by four in Europe oil stocks are weighing on the markets after yesterday's big drop in the price of oil investors are also concerned.
About whether Spain will ask for a bail out stocks in Europe are also down across the board London's down by about 45.
Paris is down by almost forty and Frankfurt's down by 75.
Now let's -- a closer look at what's moving those markets with Louise Cooper market analyst.
At BDC partners in London.
He's the yield on the Spanish ten year bond -- -- are on the rise leading many to think that country will need a bail outs in the last weekend's protests -- Many as they are already angry about the current austerity programs -- -- they really except new conditions.
That would come with asking for -- -- -- -- still -- noticed that actually being the man but off for a buy out its therapy of fat police sexually.
Or that every single politician he's he's -- last in.
Greece Ireland and Portugal has subsequently been.
Very difficult to -- point to data so what he could promise of a sort of light that lights.
However up he did manage to get a -- four point six billion of short term bills today is Spanish government race.
Twelve month money at two point 835%.
Down from the previous levels.
An eighteen month money just by the 30% to get down from previous levels site at least for the time being ECB's bond buying -- this.
Has not happened yet but -- this.
Is enabling -- -- -- sort of stuck to along for the time being however it spike does -- -- -- -- apple does not off by how.
The next short -- yields will -- again.
-- just yet that plays out now it's shifting gears to Greece are represented in a private Greek debt holders.
Is saying there's too much emphasis on austerity when it comes -- -- -- we've heard this before but others are saying Greece hasn't done enough to even earn its next bailout payments so where did they find a middle ground -- -- -- any more and more -- -- more more austerity grace is clearly not what king.
I haven't got -- country does not have a an adequate shall we say tax gathering organized nation which is that desperate problem.
And in a year ago to he has got -- to fifty billion pounds a bit fifty billion you're right.
Privatization program which -- schools and -- that there is the potential of a a platform -- unfortunately.
In pedestal -- means that getting some fall back with the for the Canadian guy for what's and I think this is the fault them.
I do you think the European politicians -- willing to listen to some of Greece's problems will have to leave has some conciliatory comments on the buckle.
But the problem is is in the -- and they just keep kicking the can down the right nobody wants to make the decision on grace.
He touched on this -- now.
Russia short in my time here about one of the problems -- -- was just that they weren't charging enough taxes but that they didn't collect any taxes -- how do you teach a country.
To collect taxes with the people that's been used to not having to pay even the ones that they future.
And an organized they showed that doesn't isn't the be ineffective execute not -- the program.
And it's been plenty of criticism the whole political costs and grace is an effective.
And maybe cattle govern the country.
And I think where we all seeing that you know this part of cessation program will -- we live plus happened yet the country desperately needs that revenue.
I it's -- what's the sense that its austerity big name Pius X family which the great heights and yet they cannot -- -- -- -- themselves.
Parents still a lot of work ahead for Greece that's for sure Louise Cooper thanks so much for being on -- dollars.
Shares of apple meanwhile are above 700 dollars in premarket trading having hit that level for the first time.
It extended trading after the company booked more than two million orders for the iPhone 5 in the first 24 hours that's double.
The company's first day sales record for the iPhone four -- That demand could give apple a strong holiday quarter because the -- phone accounts for half of Apple's revenue.
Apple says it would deliver most phones as planned by Friday but some people who have pre ordered the iPhone won't receive -- until next month.
Here's a look at commodities now oil and gold have been down all morning -- -- oil now down by almost fifty -- and 96 dollars a barrel.
Gold is down by about twelve bucks trading at 1758.
Announced coming up this hour Imus is guests will be Charles Payne -- Fox Business.
And now UD -- men ready to give you the power to prosper.
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