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This is this Imus in the morning.
-- -- Good morning everyone.
Republican congressional leaders are calling for President Obama to meet face to face with them over the looming fiscal cliff.
With 25 days left to go until -- let's take effect.
Following a meeting with fellow GOP leaders yesterday house speaker John Boehner said that the president also has the option.
Of sending a deal to congress that both chambers can agree on sources tell Fox News that the president and speaker Boehner spoke by phone yesterday.
As the two sides face a stalemate over how to tackle the country's rising debt.
And continuing budget deficits the president has pushed for raising tax rates for the country's highest earners.
And appears willing to make cuts to entitlement programs Republicans have called for bigger spending cuts and changes to the tax code rather than higher tax rates.
Let's take a look at the markets now here in the US futures searching for direction this morning but are currently to the downside -- seeing Dow futures down by six.
Isn't in the NASDAQ both down about two.
We're getting interest rate decisions now from the Bank of England they kept that rate unchanged at half of 1% that was.
What we were expecting stocks in Europe as you can see our in the red similar to numbers are seeing.
Here in fact.
I'm sorry there to the greenside there were -- London up by about seven -- is up by six and Frankfurt's up almost seventy.
We're also expecting later on in the day we're gonna see about some 45 eastern time the ECB will come -- with its interest rate decision.
That's also expected to come in unchanged but in the meantime let's take a closer look at what's -- in the European markets with Michael Hewson market analyst at CMC markets in London.
Michael what's your reaction to this -- -- decision I know -- it's as expected but wasn't the right -- Yeah I mean there there really any doubt kind of -- can -- monetary policy unchanged.
Mervyn King Charlie -- -- given.
Strong indication that that was what they were leaning towards.
I wanna get funding from lending -- a chance to actually look at slice through I'm lucky so.
What is quite -- into the economy.
Well I think if we all looking out further QE is Gilani to -- this culture of 2000.
-- think so no real surprise.
I think the -- the major concern that the limited obviously.
I'm -- comment gulf oil -- -- assignment which them.
You know just feel like could well -- BM the UK triple -- right -- -- come only in Q1.
Right and that comes just on the heels of Greece's downgrade so keep an eye out for that Michael but you're also looking at this third quarter GDP number for the Euro -- it was unchanged showing contraction.
For the second straight quarter now what do you attribute that to and -- how can the eurozone turn this around.
Well I think you often do law question is it -- -- it is a question I could hear a thing turn -- around.
Almost certainly contributed to -- his press conference likely to -- we should get some indication as to whether or not.
I'm there will be further leaving interest rates in Q1 from the creek lake I think we'll get a cut -- I think the crisis -- cost will be the -- factor determining the future direction of travel with respect to the European economy.
I think he downgrades.
Its full cost for 2013.
-- -- -- the 2040 saying I don't think.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- In Q1 of the I can look at needing to guy but I certainly think that kind of this press conference.
Cookie cake in terms that the direction travel with respect in Q1 of next year.
And I will be watching for that rate decision as well as the forecast Michael Hewson at CMC markets thanks -- -- stock to.
-- We're also as Michael suggested were set to get two more readings on the labor -- -- here in the US as well at 7:30 AM eastern we'll find out how many people employers laid off in November.
In October they let go more than 47000.
People at 41% jump from September's -- we'll see if we fare better this time around.
At 830 -- will also find out how many people filed for first time jobless benefits last week.
Economists forecast 380000.
Down slightly from 393000.
From the prior week but as usual.
We'll have to see if that prior week's number is revised up both of the readings come ahead.
Monthly jobs report from the government this is the big one.
And now we're expecting -- -- show economists say 93000.
Nonfarm jobs and I 5000 private sector jobs were added to the economy November.
We got quarterly results this morning from H&R block the world's largest tax services providers room.
Reporting and it just a loss of 37 cents a share but that was narrower than the forty cent loss the street was expecting.
Revenue was also -- that would 137 million dollars the estimate there was for 130 point five million.
Here's a look at commodities now unlike the market missing oil and gold to the upside -- up about eleven cents trading around 88 dollars a barrel goals of the little more than a dollar.
Imus in the morning continues right now on Fox Business.
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