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-- this is the Imus have a morning program on the Fox Business Network.
Good morning everyone it's time check the markets now after yesterday's big rally here in the US it looks like enthusiasm.
Over that fiscal cliff Steele is starting to wind down we see futures in the red across the board Dow futures are down almost thirty.
Yes -- down about five and the NASDAQ down almost six in Europe they don't look much better we have London down about six points Paris is down almost 25 and -- down.
Almost thirty but let's get more on what's moving those markets now live from London with -- -- market analyst for IG Alastair.
Let's take a look at Portugal the president there's time for urgent action to halt the recessionary spiral -- -- quote.
Warning that European leaders warning here in the is that austerity has become socially unsustainable now.
The people there have always sort of been against this kind of thing or -- many I should say but.
Portugal's judicially that a pretty good soldier and implementing austerity so how worrisome is it to hear this from that country.
Well I guess this is really -- the flip side if of the other countries the likes of Portugal Ireland as well I think to be -- -- in this area tape.
You have -- quietly knuckle down and -- on which it.
And and implemented critiques -- austerity measures to really try to tackle these deficit issues that that they've been -- that they by the rest of the European Union.
And they kind of looks over their shoulder and seen how.
Things have been may be periodically.
He stopped on Greece and make them as a little bit about how about cause now mentality going on.
It's a little touch quonset now they feel that they can that you -- -- short.
And bank loans to companies also fell again in Europe showing that businesses are still reluctant to borrow.
That's despite ECB's record low benchmark interest rates so.
What happens -- -- on the table at this.
Going to try to encourage more borrowing.
Yeah there's a lot of different policy certainly in the UK that are being incorporated to try and get the cash flow.
Going from the banks to small businesses again.
Banks are sitting in that sort of catch 22 situation whereby -- a lot of money's being pumped into them as far as the -- -- consent.
But obviously they were partly to blame -- issuing what what quite frankly with bad debts.
Two companies that weren't worthwhile and that they're finding themselves falling in between that the sort of -- sticks as it were.
Whether setting some pretty high targets that companies need to it to meet you know -- it should be given these these cash injections these licenses that -- And then not really finding that companies have the meet the criteria about that's the problem it's such a a difficult -- economic situation across Europe.
The largest set treading upon effort for the UK certainly here -- getting banks to.
So lend to companies that really have to do a lot of that business with the European markets.
It's very difficult to find what would be credit worthy -- Become a very familiar story all over the world Alastair so great to have you on unfortunately time.
And we have earnings in now from Family Dollar the discount retailer is reporting a profit of 69 cents a share.
Revenue came in at 2.4 two billion dollars though and that was -- beat the estimate there.
Was for 2.3.
Eight billion possibly looking to get retail sales from us interest as I should say from retailers.
For the closely watched month of December but analysts are expecting disappointing results.
Did fiscal -- -- -- among other things sales at stores open at least one year are expected to rise one point 9% last month according to data from retail metrics.
If the that is right it'll be retailers' worst December since 2008.
But cost -- is already out with its results and it says sales there rose 9% including fuel on that -- the estimate.
First six and a half percent will be watching a resident does that come men also -- -- new labor data on the market this morning at 7:30 eastern challenger gray and Christmas.
Starts things off with its report on planned layoffs for December at 815 payroll processing firm ADP is expected to report.
Jobs were added to the private sector in December.
Fifty minutes later the Labor Department such release its weekly tally on jobless claims.
Those are expected to rise slightly from the prior week to 355000.
And don't forget all these reports come ahead of tomorrow's release of the government's big December jobs report.
Economies an estimated to have added 150000.
Non farm jobs and the unemployment rate is expected to hold steady at seven point 7%.
Let's take a look at commodities them like the markets oil involved are in the red today were seen boiled down.
More than fifty cents trading at 92 homes 93 dollars a barrel both down almost eight dollars now at 1681.
Coming up this our privacy guests of the Imus in the morning Bernard -- and Fox News -- -- -- And now here's the I man and Fox Business giving you the power to prosper.
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