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Good morning everyone President Obama says he's looking to take action in the wake of the school massacre Newtown Connecticut as that community prepares.
The -- the first funeral services for victims of the shooting today.
The president spoke at a memorial service last night for the twenty children and six adults that were killed Friday.
Before the event he met privately with the families of the victims and the emergency personnel.
Who responded to the shootings once at the service the president told the crowd that he plans to do everything he can to -- violence like this from happening again.
In the coming weeks -- use whatever power.
This office holds to engage my fellow citizens from law enforcement.
The -- help professionals to parents and educators.
In an effort aimed at preventing more tragedies like this.
Senator Dianne Feinstein says she will push to renew an assault weapons ban that expired in 2004.
Which would limit the sale of guns at large clips and M -- drums.
Let's take a look at the markets now here in the US futures are mixed Dow futures -- -- nineteen recipes at three but the nasdaq's down.
By about four and a half points in Europe stocks there are trading down across the board as concerns about fiscal -- negotiations here weigh on markets.
Both domestically and abroad let's -- -- closer look at what else is moving -- European markets with Jane Foley senior currency strategist.
At rabobank in London -- Jane investors seemed to be looking for any signs of progress toward reaching a deal on this fiscal cliff but.
With only two weeks left before the tax hikes and spending cuts are set to take effect many say.
-- -- likely they get a deal through congress in time even if the speaker and the president to reach one imminently so how should investors play this.
We're market as you can see as you can see what's -- markets is now becoming increasingly -- of -- -- At the effects of that official could have been -- action that this is Savvis for a lot of that -- into computing and some indications about.
Consumer spending -- as the market begins to realize that if but increasing and probable.
That the US will hit at -- partially.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- At the -- -- becoming increasingly -- And looking -- -- -- ECB president Mario Draghi set to appear.
Before EU parliament panel to give his assessment of the eurozone economy and monetary policy there any expectations on what you'll hear from him.
-- and -- -- that he said American who is this is very intently enough cushion there isn't it is in recessions have -- not going to view from Nike that would tend to have good news.
That we consider -- ECB did devices there was some of their full costs.
About the today that have been some -- -- that -- that ECB policy meet Tina and -- this month.
Maybe there was a majority of council members actually vote in favor of a rate cut yet they didn't and that's the rate cut that's.
That's anywhere in this it's possible access the market will be listening to a little bit more on that seat of his -- that.
That's it wolf coming eighteen -- -- right now way not.
The likelihood of further rate cuts from the ECB.
As Jane Foley over rob -- -- Jane thanks -- taking the time is always we appreciate it thank you.
Here's some breaking news story -- sprint is acquiring 100% ownership.
A Clearwire for two dollars 97 cents a share the transaction results in a total Clearwire enterprise value of approximately.
Ten billion dollars.
That transaction includes net debt and spectrum lease obligations of five point five billion dollars normal course give you more details on that deal as we get them in the meantime.
-- -- talking about these fiscal -- negotiations already this morning and there -- some slight progress.
Being made with just two weeks left before those automatic tax hikes and spending cuts are set to take effect.
Sources say speaker Boehner has proposed allowing tax rates to go up for -- making at least one million dollars a year and that compares to the president's demand.
That bush era tax cuts should expire for anyone making under two or making more than 250000.
Dollars a year Boehner also increase -- figure for total revenue.
21 trillion dollars but in return.
He says the president must agree to one trillion dollars in cuts to social program spending the White House hasn't yet accepted.
Being -- proposals we will -- -- you updated on that front.
Meanwhile shares of apple -- lower in premarket trading after -- downgraded the stock from buy to neutral this morning.
-- analyst says apple has cut orders to its vendors raising concerns.
About demand for the iPhone 5.
He also cut his price target on the stock from 675.
Dollars to 575.
The downgrade came just as apple said it sold more than two million iPhone fives in China after launching the device there.
A -- a look at commodities now oil and gold have been down this morning not quite huge amounts when it comes to oil is down by about eight cents trading -- 87 dollars a barrel.
Both down about three bucks that's 6093 -- Announced Imus in the morning continues right now on Fox Business.
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