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Bernanke to Meet With Economic Club of New York

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

  • Duration 4:52
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Who's -- -- Imus in the morning in -- I'm on the Fox Business.

Good morning everyone Federal Reserve Chairman Ben Bernanke is set to address the economic club of New York today -- -- likely focus.

On the central bank's policies and the economy.

Fed watchers expect Bernanke to say that the Central Bank isn't having any second thoughts about its ultra easy monetary policy.

Since September the Fed's been purchasing forty billion dollars worth of mortgage backed securities per month.

In an open ended plan that the Fed says we'll stay in place until the jobs market makes major improvements.

Bernanke speech is set to begin at 12:15 PM eastern and Fox Business we'll bring you his comments from the Q&A session.

Checking the markets now here in the US futures are mixed in fairly flat Dow futures are down to the S&P.

Is -- just about unchanged at the nasdaq's up about three.

In Europe Moody's Investors Service lowered France's sovereign rating yesterday by one notch to double -- one.

Stripping in the country of its coveted triple A rating you can see stocks there are also makes for seeing -- Down about sixteen Paris is down almost nine.

And Frankfurt's down almost fourteen Moody's cited.

A series of reasons for that move including elevated uncertainty with respect -- -- fiscal outlook.

Now let's take a look at what's moving those markets with Michael -- -- always -- to talk to you Michael now wondering.

Looking at this meeting today pending with euros on finance ministers they're set to meet in Brussels to discuss Greece but.

Germany said yesterday there's no way they'll reach deal today in Reuters is reporting that officials expecting -- quote.

Political endorsement in principle on and freezing loans to happens is that enough for now.

They might well have to be time coming this is one of those -- this probably gonna run and run for quite some time.

By Dutch finance ministers and done.

Finnish finance ministers have expressed.

A sort of a little bit of disquiet that will get an agreement to -- -- on the -- I have to agree with them I think you'll probably be -- -- -- -- -- They'll come out with some form assignment and done they'll probably come to a decision hopefully -- through this month among them -- -- twenty night.

And we're talking about this friends downgrade obviously big story this morning Cuba prince -- kind of shrugging this off saying its economy is sound and reforms are on track now.

Is -- think you -- optimistic here does that sound about right here.

-- felt about -- me they couldn't really thought anything else really can thank.

I -- all this Moody's action is done he's bringing into line with the S and -- downgrade.

From January this year it's not really telling if anything we don't already know with respect to the French economy.

It does place -- -- for -- headwinds growth concerns notwithstanding of one of the region's.

For the downgrade cited by Moody's was consent -- -- the France is exposure to Spanish.

I'm Greek debt and the fact that they growth assumptions seem very very optimistic for next -- in the air -- the.

And and -- about that the outlook remaining negative did that -- anymore way to this stores that to be expected as well.

I think that's to be expected as well given the reasons the Moody's cited I think the -- consent -- and is it.

Mideast Ellison turned its attention to a country like Germany which is all -- On negative outlook in fact the only country in Europe that he's not on negative outlook -- Finland.

Time.

That's Michael Hewson at CMC markets -- backs Michael -- -- do you think think think it is done.

Meanwhile he -- packet is set to report its fourth quarter results this morning in a weak PC market coupled with uncertainty in Europe are expected to put a dent in those figures the company's estimated to have earned.

One dollar fourteen cents a share on revenue of thirty point 43 billion dollars both down.

From a year ago the PC market was supposed to get a lift from the release of Microsoft's windows eight but a number of analysts believe it will take some time.

For the industry to see that boost the corporate market will also be an area of interest in terms of HP's performance with rival Dell commenting last week that companies remain cautious.

On IT spending so we'll have those results for you as soon as they cross.

Meanwhile get to say get our second piece of data on the housing market -- this week with today's release of housing starts.

October starts are expected to commit an annualized pace of 840000.

Down from September's 872000.

Be all permits a sign of future activity are expected to commend.

At a rate of 865000.

Down from 894.

In September we'll have both of those numbers also out as soon as they cross at 8:30 AM eastern time.

Let's take a look at commodities now like the markets -- -- oil and gold down for most of the morning -- now down about eighteen cents hovering -- 89 dollars a barrel.

Gold is down -- little more than a dollar at a dollar forty trading at 1733.

Announced and coming up this hour Imus is -- -- former Arkansas governor Mike Huckabee.

Now here's the -- man live on Fox Business.

Giving you the power to prosper.

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