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Imus in the morning.
On the -- Good morning everyone it's time to check the markets and here in the US futures are searching for direction they were in the red.
Across the board for most of the morning now we are seeing the S&P.
Up slightly NASDAQ and Dow futures are still down also not by huge amounts would keep an eye on those meanwhile in Europe.
The ongoing saga between aerospace -- there may have come to an end.
Headlines are crossing saying that talks about a merger between EADS and BAE have broken down on German opposition and that way they and -- They will not be extended stocks are currently mixed in Europe as well we're seeing month and down by about sixteen Paris down.
But just shy of a point and Frankfurt's up by almost three points now let's take a closer look at what's moving as markets with -- amazing -- -- head of global.
And international equities -- -- adversity first.
On this news about this aerospace merger what do you make of all -- had expected impact markets.
Well I think yeah it did the Dylan doesn't really make sense so I'm I'm not surprised at all by the development.
Both from an indication of about voting from the various governments as well as from the direction.
Of the combined entities.
I think it's not logically supported -- And Spanish prime minister shifting gears a little bit Spanish prime minister -- Roy and French president Francois -- aligned.
Our meeting today as investors look.
Like always for any signs that Spain might ask for about -- the last time they got together in -- Spain said it is waiting to see what the ECB's next move would be now of course we have -- -- any thoughts on what we'll hear from him this time around.
But I think you know again what he's entrusted it from the Spanish side is what kind of conditions.
Will be applied but there's also a timing issue is -- -- -- discussions in Europe Greece Greece.
Portugal is also as you know and the strength.
Cyprus and possibly still -- yes I think it's not -- about the Spanish package it's also about a half.
All of those countries come together and maybe postponing the debate this idea of -- bailout vote for Spain.
In in in -- -- there.
As you know -- has decelerated.
Although we had some pretty strong French.
Industrial production numbers.
Move recently -- quite influenced by one off I believe in the car R&D.
Beverage and oil industry.
But I think in general the trend has been -- this generation so.
The budget deficit outlook -- actually slightly worse than it was just a few months ago and I think.
You know the European leaders want to take -- -- -- into consideration.
Before making your move and as you know Merkel was in -- just just died yesterday.
But -- Spain the finance minister there also said yesterday that Spain's risk premium.
Isn't an accurate reflections of the state of the country's economy but.
Experts still seem to agree that it is Spain will need -- bail out at some point could they be -- Though I I I think yeah I think spend one need to -- -- I think the -- -- shooting -- -- construction except Iraq.
Israel and its gonna take many years to -- through -- As you know it is also a lot of socially shooting in Spain with very high and employment among young people.
A whole generation if you want of people who drop out of school.
And decided to go into puppeteer construction and actually the government is also coming up with some programs to try to retrain -- people's I think.
You need to question.
The Spain need a bailout or not is very K I think Spain needs -- -- it's a question of the timing and hot this -- With that -- should be all the things that Europe needs to do with -- -- Greece Ireland and Portugal and potentially be on the -- -- -- no shortage of issues for them to DO -- right now.
The virgin name is not yet Schroeder's thanks so much for being on -- great talking to -- Thank you.
And shares of True Religion Apparel are soaring in the premarket after the company said it's formed a special committee.
To explore and evaluate strategic alternatives -- the company says no decision has been made.
To pursue a deal but it has -- indications of interest from third parties about a potential transaction.
Shares -- True Religion have tumbled 39% this year after the company issued.
Disappointing profit and sales forecast it's also made slow progress in expanding into new markets overseas.
FedEx meanwhile says it's planning -- deep cost cuts at its underperforming express air freight and services divisions.
The package delivery company is looking to improve profits at those units by one point seven billion dollars over the next four years.
The move comes after FedEx cut its twice thirteen profit forecast last month.
Citing a growing shift -- corporate customers to ship goods by -- rather than -- due in part to high jet fuel prices and slowing economic growth.
Imus in the morning continues right now on Fox Business.
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