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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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This is -- Imus in the morning.
Around on the Fox Business Network.
Good morning everyone President Obama set to meet with more business executives this afternoon to discuss the looming fiscal clip.
The president of the down with deals like Lloyd Blankfein of Goldman Sachs home Depot's frank Blake Marisa Mayer of Yahoo! Caterpillar's -- over Hellman.
And Randall Stephenson of AT&T -- meeting comes two weeks after the president sat down with another group of executives to discuss the same issue.
The president also met with small business leaders yesterday and plans to visit.
A small business in Pennsylvania on Friday as he pushes to gain support for his call to raise taxes on Americans making at least 250000.
Dollars a year.
Let's take a look at markets now here in the US futures have been in the red largely on concerns about that fiscal cliff we're seeing.
Dow futures down 37 the S and -- down five in the nasdaq's down about eight.
In Europe.
Markets there are also taking a hit over those fiscal cliff fears.
Along with concerns that details of Greece's debt deal aren't clear enough and that the deal won't do enough to ensure debt is sustainable stock in Europe.
Currently down -- down eighteen Paris is down about sixteen and -- down 32.
Let's take a closer look -- what's moving those markets at Barclays wealth equity strategist Hank Potts over in London -- Greece's prime minister has come out saying quote a very gray very dark period for Greece closed.
Definitively.
And he's talking about that of course has resulted this bailout deal but looking -- markets you can see investors aren't so sure -- you can down on this.
Well I think it's a good deal for Greece there's not a doubts about at least gives them the ability to fight for another -- -- non end of its problems that house -- said they would given forty billion Euro debt reduction program.
From its international lenders I guess that's been positive given the weeks of discussion and negotiation has taken place it's not -- -- -- -- on the title.
Yeah this has been a bit of Arafat says my doubts about -- if you look at the way which is constructed.
Revolves around the idea the interest rates will be low it.
The -- deadlines will be extended.
That eventually get the idea that put some on a paw off to what they would consider sustainable growth as real questions.
I have -- Greece's ability to meet those deficit reduction targets.
And questions about whether boosting the second commitment kept saying that a second man -- more important suggesting that.
Get put Greece on a -- debt to GDP of 110%.
By 20/20 two that would -- some -- -- but of course Greece has got to get saved a primary politics so there's an -- flat top and still significant question -- seven that still significant.
Amounts of structural reform and austerity measures need to be introduced that.
And heck -- -- take a look at another troubled country to the Portuguese government passed -- new austerity budget yesterday but not without protesters outside.
Parliament there now for a while Portugal is seen as a role model in the Euro crisis taking its medicine without complaint so this week but.
How concerning is it that the people there seemed to be growing more discontent -- -- more more of these protests.
Well that's the reality.
If -- situation is taking place within the indebted European southern countries.
The reality is that I have to industries these measures I have to introduce structural reform revolving around the labor market.
Revolving around pension reform and they need some racial of the public sector which has become bloated -- critical to -- policy years comes back to a more reasonable level.
Well level in which it can serve society rather than dominate the economic environment and when -- -- exchanging those types of -- It's and there's no doubt that you've -- to get disruption in terms of the streets united used eight.
I social unrest -- product consequence but these are necessary reforms is a surprise press freedoms even before imports -- as we have seen elsewhere and the likes of Italy and also in spine.
But thank pots over Barclays thanks thanks guys -- -- you.
-- And -- has announced -- special dividend of seven dollars a share worth a total of three billion dollars.
The retailer says it will pay the dividend on December 18 for shareholders of record on December 10.
Pasco is the latest company to announce -- special dividend to help shareholders of -- A possible jump in the tax rate from the fiscal -- It also says same store sales rose more than expected 6% in November helped in part by higher gas prices.
Here's a look at commodity -- the market oil and gold have been down all morning we're seeing oil now down almost eighty cents both down about eight bucks.
Coming up this hour Imus is guests will be political analyst Carl Jeffers.
And now here's the -- man live on Fox Business giving you the power to prosper.
