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FBN’s Diane Macedo breaks down the stories moving the markets around the world.
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This is -- Imus in the morning.
Around on the Fox Business.
Good morning everyone let's start things -- by taking a look at the markets here in US we've been seeing red arrows across the board all morning Dow futures now down 48.
Yes and he's down by about six the nasdaq's down seven in Europe investors are keeping a close eye on a meeting by the regents finance ministers -- third one this month.
To see if Greece will finally get the money it needs to remain solvent ahead of that markets in Europe are also down.
Missing London down about thirty same goes for Paris in -- down about 23.
-- -- a closer look -- -- what's moving those markets have rabobank international senior currency strategist.
Jane Foley in London -- Italy's consumer confidence unexpectedly declined in November to an all time low is there anything leaders there can do.
To reverse that slide.
Well this is again annual all the way back to the debate back to Grey's -- is austerity something that's been a big theme through the markets -- remain to be had very strong in areas.
At fair across -- that perhaps you start she's gone a little bit to find there's a big -- movement that's suggesting that accept politicians do need to concentrate to -- but.
Without money in the conference very difficult for them to -- that.
-- -- A lot of focus today on this eurozone finance ministers meeting at what -- -- options if they can't reach a deal -- there anyway they avoid -- default without this aid.
Where if you like this is really what the debate is all about because of the I'm -- -- by pressuring.
At the urethane Aniston's cute except at that Greece that needs to that and achieve its original deficit targets for -- really saying is that that the USA.
At public sector needs to accept and cuts in the years in public accept certain parts of Germany Finland Netherlands and say nine.
That they don't want to do that -- why these leeches who contracted non.
This is what is at least that remain -- he confronted agreement today.
Right that's Jane Foley live from.
London we will continue watching it closely Jane -- with you again very soon thanks so much.
-- -- -- And the White House has released new figures on how retailers and consumer spending may be impacted if congress fails to extend tax cuts.
On Americans making less than 250000.
Dollars a year.
According to a report by the National Economic Council in the council of economic advisors.
Allowing the tax cuts to expire and failing to patch the Alternative Minimum Tax -- -- the growth -- consumer spending by one point 7% next year.
The report adds that the decline in consumption.
Along with the sharp rise in middle class taxes could slow the growth of real GDP by one point 4% that was in line with projections.
From the Congressional Budget Office the CEA says -- taxes do go up consumers are expected to spend nearly 200 billion dollars less than they would have next year.
More congressional Republicans are breaking a longstanding pledge to -- tax increases as lawmakers prepare for talks to avoid the so called fiscal -- New York representative Peter king and South Carolina senator Lindsey Graham.
Say they would break the pledge and -- tax changes to generate more revenue to reduce the federal deficit but Graham said on ABC's this week.
Democrats must agree to big changes in entitlement program.
500 billion dollars in spending cuts and tax hikes are set to kick in on January 2 unless lawmakers agree on a more measured approach to reduce the deficit.
And they kick off to the holiday shopping season continues today as consumers head to the Internet.
To -- Cyber Monday deals according to the research firm comScore Americans are expected to spend one and a half billion dollars online today -- That would make this year's Cyber Monday the biggest online shopping day ever for the third year in a row.
Retailers certainly hope that's the case as they look to keep the momentum.
From the past few days going shoppers spent an estimated 59 point one billion dollars both in stores and online from Thanksgiving through yesterday.
According to National Retail Federation and that's up from 52 point four billion.
Last year.
It's apple is asking a federal board to add six more products to its patent infringement lawsuit against Samsung Electronics.
The new products include the Samsung galaxy note to and the Samsung galaxy S three.
Which -- on the new android jelly -- operating system.
The case is one of two pending patent infringement lawsuits brought by apple against Samsung and -- jury already awarded apple one billion dollars in damages.
Over another sense I'm -- infringement lawsuit back in August.
Here's a look at commodities now oil and gold.
Both down -- -- done almost forty cents -- done about two bucks coming up this hour Imus is guests will be Fox Business -- Sandra Smith.
And now here's -- and then live on Fox Business giving -- the power across Britain.
