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Challenger: Dec. Job Cuts Fall to 32,556

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    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 4:56
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This transcript is automatically generated

The Imus in the morning -- Program on the Fox Business Network.

Good morning everyone at the big day for jobs reports last hour outplacement firm challenger grade Christmas reported that.

Employers announced plans to lay off 32556.

People in December that's down 43%.

From November in fifteen minutes payroll processing firm ADP is expected to report.

That 133000.

Jobs were added to the private sector in December and fifteen minutes after that.

The Labor Department is set to release its weekly tally on jobless claims those are expected to rise slightly from the prior week.

To 355000.

Also don't forget all those reports come ahead of tomorrow's release of the government's big December jobs report.

Economy estimated to have added 150000.

Non farm jobs and the unemployment rate is expected to hold steady at seven point 7%.

Looks like hormel the company behind spam want to be known for more than just meet.

It's -- escape if you butter business from Unilever United States for about 700 million dollars.

-- get a brand which goes back to 1930 to generate total annual sales of 370.

Million dollars about a quarter of that outside the US.

Hormel says get it will complement its sales strategy in China for the spam brand.

And let's take a look at the markets we saw a huge rally yesterday but today we've got red arrows.

Across the board as investors seemed less enthusiastic about that fiscal cliff -- -- Dow futures down 2.4.

Yes if he's down almost -- the nasdaq's down about five in Europe.

Stocks are sort of searching for direction but have been mostly to the downside all morning we've got London down about two points now Paris is down.

That's -- 637 points there in Frankfurt down about the same.

But we have Lawrence Cincinnati in the newsroom now also looking at some of the morning's top business stories that will move the markets here in the US and learn we got.

-- it's a huge day for economic data much of the week's data will print today jobless claims like you mentioned -- so.

We have December's retail sales trickling in -- auto sales will start coming out.

And then this afternoon as if we weren't done with everything we get the minutes from the Federal Reserve's latest -- And like the boards -- -- we do have futures looking a little bit -- this morning has were hung over from that huge rally we had yesterday the first trading day.

The new year lots of people put money into the market.

For the first day of January that was another reason in addition to the fiscal -- euphoria.

That boosted our markets yesterday so today we're coming down a bit.

Auto sales are expected to be pretty good for all of 2012 when you get the December numbers in the full year numbers fourteen point five million -- expectation.

And if that is the case that would be the best numbers since before the recession since 2007.

The numbers for 2000 -- thirteen are actually expected to be even better topping fifteen million.

And that is would be level that really does signify -- healthy auto market so we'll pay attention to those numbers Chrysler's usually are the first ones on tap.

And finally next time go into Wendy's and you want something on -- 99 cents many -- might have to pay a dollar 99.

They're increasing some menu prices and also changing some of the items because prices are gone up for everybody not just us as -- food -- but also.

The restaurant's chains as well.

One of the changes that they're making -- used to get the five piece chicken nuggets are 99 cents amount that's -- -- be sort pieces so kind of putting us on an automatic diet Diane.

Back to you out of Baghdad proper values yeah but that this movie let's get Laura had -- -- All right every by Taylor Cincinnati 10 give me this morning thanks learn -- appreciate it.

And now let's go over to out Jazeera which is making moves to boost its US viewers -- the -- based broadcaster.

Is buying current TV for an estimated 500 million dollars saying it'll turn this struggling cable channel co founded.

By Al Gore into a new US based news network.

The move will make Al-Jazeera available in more than forty million US households up from four point seven million.

And it'll help the compete with the American news channels like CNN MSNBC and our sister network the Fox News Channel.

But analysts say Al-Jazeera faces hurdles with US distributors and viewers.

Time Warner Cable has already said it will drop the channel from its lineup.

And its retail Thursday as -- -- we have some same store sales numbers coming in from some big names.

Macy's says its monthly numbers rose four point 1% in December from a year ago analysts were expecting sales to rise by 4% target.

Says its monthly numbers were unchanged from a year ago.

Finalists were expecting sales to rise by point 8% there and GAAP sales.

-- up 5% they were expected to rise.

3.5 percent let's take a look at commodities now we have oil and gold to the downside this morning boils down by about forty cents.

Gold is down almost ten bucks coming up this hour -- -- his guest will be radio talk show host Laura Ingram.

And now here's the -- them live on Fox Business.

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