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This is vision Imus in the morning.
-- on the phone -- Morning everyone checking the markets this morning despite weak PMI data in Asia and Europe stocks are higher.
Pretty much across the board here in the US futures are starting off the new quarter in the green.
Dow futures are up by 65 the S and he's up by six in the NASDAQ up by sixteen this after all three indexes.
Finished -- the third quarter with gains as well stocks in Europe are also higher.
As investors increased their exposure to cyclical sectors like banks.
And miners vacancy London's up by about 65 pairs up about fifty in Frankfurt up about 92.
Let's take a closer look now what's moving those European markets with Michael Hewson market analysts.
At CMC markets in London.
Mike we have protests and that Paris and Madrid lousy PMI figures for the eurozone and -- 1813 budget showed.
Over the weekend that the economy was actually in worse shape than feared so how should investors react to all of this.
Well hello I think what we're seeing this morning is than my has -- the size dining -- you -- think in the wrong why is the Ryder Cup affect the thing.
Europe is having a bit of a bounce on map.
Honey checking bison what's happened is that to the PMI -- -- that we've seen.
Come out of Europe this morning it's been slightly better than expected nothing has also been a certain amount of tangible -- -- -- stress tests that came -- on Friday night.
-- -- pretty much in line with expectations but I don't think anyone is really under any illusions whatsoever.
But the outlook remains fairly grim but still in the trading range is that we've seen over the policy you know four to six weeks.
And until such times as we get some sold into -- Europe with respect to growth -- that I I think that's really going to change.
And then Michael Moody's also set your views Spanish debt how do you expect that to impact the markets -- that does come through.
I think when it comes out I think it'll removed from a pace of uncertainty that's basically been affecting markets for quite some time now I think it's inevitable that Moody's.
We'll downgrade explain to John because that thing -- investment -- of the -- is really.
I think it's really societal I think what's gonna happen now with respect to the markets is that gonna focus on this week's ECB -- thing.
Well -- draw the outline any further details about bond buying programme and will mr.
rajoy finally by the -- -- for a buyout.
Quincy thanks so much -- Michael Hewson from CMC markets I think hating on Michael.
And Federal Reserve Chairman Ben Bernanke is expected to give more insight on the central bank's decision to launch another round of quantitative easing here in the US.
When he speaks to a sold out crowd of 2000 at the Indiana economic club today.
At a speech marks the first time Bernanke will speak publicly since the Fed announced its new stimulus program last month fed watchers say.
Bernanke will likely try to shift investors' attention back to be aggressive policy instead of focusing on doubts about whether or not it will it will work.
-- last week Philadelphia fed chief Charles Plosser said the program won't create jobs.
And it puts it central bank's credibility at risk.
Glen course 33 billion dollar takeover bid for Xstrata is one step closer to becoming a done deal after the miner's board approved the plan.
The -- does still face opposition from major Xstrata shareholders over retention bonuses for executives.
Big strategy asking those investors to support the deal even if they don't agree with that proposed incentive plan.
-- -- also says its current chief executive Mick Davis will be replaced them the board after he leaves the company and you'll be replaced by an extra on executive.
Union workers at Chrysler's Canada operations have approved a four year labor deal with the company.
Roughly 90% of the workers supported the deal which covers 8000 employees the deal freezes wages for existing workers for the first three years.
But provides for cost of living adjustment in the fourth year.
Workers will also receive a series of lump sum bonuses and that plan -- those -- with Ford and General Motors as well.
Speaking of GM.
The company's recalling nearly 41000.
Cars from potential fuel leaks.
Auto -- says the recall affects Chevrolet Cobalt and Pontiac G five sedans from the 2007.
Through 2009 model year -- and Chevrolet equinox is Pontiac Torrent and Saturn icons from the 2007 model year.
That's vehicles have plastic parts in the fuel pump.
Which could crack and lead to a fire but GM does say there have been no reports of fires or injuries at this point.
It looks like Oracle customers will be getting directions from Nokia the Wall Street Journal reports Nokia's preparing to announce the deal to give Oracle access to its map data and location services.
The newspaper says Nokia sees the move as a way to significantly expand its mapping services which compete with Google Maps.
And Oracle touted as an easy way for customers to integrate Nokia's maps into -- applications official word is expected today.
At the Oracle world conference in San Francisco.
Here's a look at commodities now unlike the market oil -- to the downside this morning.
Boils down by almost fifty cents and 9192 dollars a barrel -- -- about three bucks at 1771.
Coming up this our -- -- gasoline Martha MacCallum.
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