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Fiscal Cliff Optimism Lifting Global Markets

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

  • Duration 5:06
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On the fox.

Good morning everyone -- This time take a look at the markets and here in the US -- seeing green arrows across the board on optimism that lawmakers.

May be approaching a deal to avoid the fiscal cliff we're seeing Dow futures -- seven -- Yes and he's up -- in the nasdaq's up about eighteen in Europe markets are out there also on optimism about -- the fiscal -- also economic sentiment in the eurozone.

Rose to 85 point seven in November and the eight months of declines the German unemployment also climbed.

For an eighth straight month in November as Europe's debt crisis -- company investment and economic growth stocks are currently in the green sourcing London up 45.

Harris is up about 33 in Frankfurt to -- more than fifty points.

Let's take a closer look now what's moving those markets with rob a bank international senior currency strategist Jane Foley over in London.

Jane how concerned should we be about this German unemployment figure.

Well you mentioned that it did to -- -- -- is bad news that she and -- McCain back to -- in the market for constant quest.

At the last tickets -- we have cut some better than expected numbers from Germany -- -- who put put that against him back up because.

A few weeks ago the Bundesbank which is -- -- -- net Central Bank warns that Gemini could see.

Negative growth in Q4 -- Against that backdrop some of these data that was seen sleeping in this company back to -- that is actually -- helping market sentiment.

And Jane markets are you know in the green across the board and pretty much on positive comments about this -- -- lawmakers.

But I -- look at these -- Boehner said he was optimistic that we can continue to work together to avert the crisis sooner rather than later.

And the -- president basically said that he's hopeful.

About striking a deal before Christmas so how is this different from what we've heard.

Up until this point.

Well I have been rare bit of that rhetoric suggesting that his -- more room for a compromise there's been a break you know around expenses and Republicans about that the tax rises in Santa Obama appears to be softening his position because if -- got to -- -- three -- -- congress is due to break for the hundredth -- -- It and you wonder how long the -- it is scary to be a piece by -- to make it soon donate to a gonna have to neat to see concrete measures signed off by the politicians.

We don't have that much time so I think there is set -- -- a cool option at coming back into these markets in the next couple of weeks.

They do love to leave things until the last minute -- -- that Jane Foley live from London Jane great stock -- you thank you.

We're getting earnings in from crack about country -- the country style restaurant and gift shop operators reporting an adjusted profit of one dollar eight cents a share beating the estimate for a dollar six cents.

Revenue came in at 627 point five million dollars -- -- a slight miss analysts were looking for 629.

Point seven million.

We'll also get several pieces of economic data this morning including -- the -- latest read on the labor market.

390000.

People are expected to filed for first time benefits last week that would be down.

From the prior week's reading a 4101000.

And would -- back below that 400000 mark after two weeks above it also of course keep you -- -- of any revisions.

We'll also get a second look at growth in the third quarter GDP.

Is expected to rise to two point 8% from the initial reading of 2%.

Economy grew by just one point 3% in the second quarter and both of those numbers are out.

At 8:30 AM eastern we'll have them for you as soon as they cross.

-- getting earnings -- now from Tiffany the -- retailer is reporting a profit of 49 cents a share that was messed.

Yesterday it was for 63 cents revenue also missed -- 853 million dollars the estimate there was for 859.

Point two million.

We'll get an early look at how the holiday shopping is shaping up today as retailers release -- same store sales figures for November.

Despite a strong Black Friday analysts expect overall sales to have -- -- sluggish one point 6% this month from a year ago.

Discount stores are expected to be the big winner though with sales estimated to rise by nearly 4%.

-- a reported its results yesterday saying sales rose nearly 6% that topped expectations.

And while cyber Monday's results won't be factored into these figures we will see what kind of an impact super -- sandy had on retailers.

Shares of -- the -- we're down more than seven and a half percent in extended trading after the retailer issued a cautious outlook.

For the current quarter which includes the holiday shopping season Arab the stuff says it expects to report an adjusted profit of 36 to 41 cents a share for the fourth quarter.

The estimate has since been revised down to 49 cents as for the third quarter the company earned 31 cents a share two cents above the street's forecast.

While revenue rose 2% from last year to nearly 606 million dollars topping expectations.

Here's a look at commodities now oil and -- have been -- all morning we see oil up now more than dollar trading around 87 dollars.

Barrel -- gold is up about seven bucks at 1726.

And a Imus in the morning continues right now on Fox Business giving you the power to prosper.

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