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IMF Lowers Outlook for Global Growth

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  • Description

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

  • Duration 5:01
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This is live finals of the morning.

On the -- Morning everyone -- global economy is once again heading toward a recession that baby you may be.

More complex than the previous one that's according to the international monetary -- world economic outlook report.

Which offered the weakest outlook for global growth since the 2009 recession.

The -- expects the world economy to expand by 3.3 percent this year and three point 6%.

Next year both down slightly from July's forecast the IMF also says growth will slow in nearly every major country as political uncertainties.

Threaten US and eurozone recovery is still one -- brought the US did manage to be the only country to get an upgraded growth forecast but the IMF predicting 2.2 percent growth for this year.

Up slightly from July's forecast.

Checking the markets now here in the US we are seeing numbers fairly flat to the downside Dow futures are down by by the SVs down.

I just half -- point the nasdaq's down by eight.

In Europe concerns over a slowdown in global growth and its impact on earnings.

Are weighing on markets -- -- consumer looking at also fairly flat numbers but a mixed market in Europe meanwhile German Chancellor Angela Merkel has arrived in Greece and this is her first visit.

Since the eurozone crisis began she'll hold talks -- prime minister and Tony some RS as well as Greece is president.

But protesters are gathering in front of parliament also awaiting her arrival.

The country struggles to keep up with commitments needed to guarantee rescue loan payments and long term Euro membership.

Have increased hostility among the Greek people toward -- the bailout efforts will be keeping an eye on what happens with those protests and what happens in those talks.

In the meantime let's take a closer look at all of that but -- -- Market analyst at IG markets in London and Christie -- German Chancellor Angela Merkel in Greece for the first time discussing this crisis it's kind of an interesting paradox between countries.

Have been doing a bit of a delicate dance for sometimes I sort of want -- to help us paint a picture of what's going on here to start off what of the German people looking to get out of this meeting.

When I think the Germans will be looking to see that Greece.

Is indeed getting from all these austerity measures that would pause on the Greek economy of the policy has -- -- to see that they get.

I'm sort of -- -- -- yes they -- -- croft Jeannie spanned out agreements from what they can't buy is another matter.

And in terms of the Greek people is this just leniency that there are hoping for is there more to this.

And I think he sees one key thing now hoping for an analyst habit of but the understanding -- appreciation of how typical it has been.

The Greek economy to it's just who these measures and how long it will take them to recover both sides looking for a -- a -- -- different rarely.

And then there have been some talks about what kind of an effect this meeting could have on Merkel politically.

What do you think about that.

Who -- medical finds herself and a very tough spot she needs to.

So that she's gonna take your hard drive through these countries and no to deviate from now otherwise -- -- losing support of Arafat's self governing coalition.

But she can't really afford to be seen to be sort of -- and eastern Germany.

All right Angela Merkel also doing a balancing act -- -- Jim thanks for the analysis look at Diana -- and of course keep checking in throughout the morning thanks Chris.

In the meantime we have some breaking deal news for you Spectrum Brands is buying Stanley black and -- hardware and home improvement group.

For one point four billion dollars we'll have more on that deal as we get and more details but let's talk about earnings now because earnings season is set to kick off after the bell today.

Without -- -- third quarter results.

Unfortunately though the company is expected to set the stage for disappointing around here analysts expect profit.

At the world's largest aluminum maker to be flat down from fifteen cents it reported a year ago.

While sales are also expected to tumbles on 13% to five point five billion dollars Alcoa has seen aluminum prices fall as result of an abundance of global supply.

Fueled by the slowdown in economic activity in Asia and continued weakness in Europe.

A group claiming to be aligned with Muslims has threatened to attack three bank website as part of an ongoing operation that it says.

Is retribution for an anti is Islam film trailer.

The is dean I'll -- -- cyber fighters say it and web post.

-- they'll go after Capital One Financial today suntrust tomorrow and Regions Financial on Thursday.

That same group -- credit for recent cyber attacks against Bank of America JPMorgan.

And the -- Are indicative of -- type of attack that makes it hard to access the sites but generally doesn't -- consumer information at risk.

Here's a look at commodities now oil in golden mix receding.

Oil up by about forty cents throughout ninety dollars a barrel gold is down two bucks -- 1773.

-- -- Coming up this hour Imus is -- -- be journalists and opt third Taylor junior now here's the I man on Fox Business.

Giving you the power to prosper.

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