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Futures Searching for Direction After FOMC Minutes

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  • Description

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

  • Duration 4:59
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This transcript is automatically generated

I -- the morning.

On the farm -- Morning -- listen to get one of the most important pieces of economic data later this morning with the release.

Of the December jobs report economists expect that 150000.

Jobs were added to the economy last month.

Heavy up slightly from November's 146000.

The private sectors estimated to contributed 148000.

Of those December jobs.

Meanwhile the unemployment rate is expected to hold at seven point 7%.

As always will be looking at the labor force participation rate as well that shows the percentage.

Of working age Americans who have jobs or looking for them and that number dipped slightly.

In November to 63 point six -- report comes out at 8:30 eastern and fox business's Peter Barnes will be at the Labor Department to give us the news as it breaks.

Checking the markets now have that report here in US futures are searching for direction after minutes from the Federal Reserve's last meeting show the bank is considering dropping its bond buying program.

Dow futures are down sixty S&P and NASDAQ are up slightly.

In Europe eurozone services PMI came in at a five month high but still indicate contraction German retail sales for November came in better than expected still markets.

Are down across the board we have London down six Paris is down seventeen.

And Frankfurt's down about twenty.

A -- a closer look now what's moving those European markets is Brenda Kelly market analyst.

At IG in London -- years on PMI came in at a five month high German retail sales came in better than expected so wire the European market so doubted just because you're looking here at the US.

I think and -- the Fed is at the minutes what happened last night reading how to taken the wind out of the stands -- -- equity markets and of course coming at a 22 month high.

Over the last number of days at this is certain element of profit taking but I think investors sitting on their hands at the moment in anticipation of -- non farm payroll results later this afternoon.

Out of course sad though is that minutes.

Did reflect that there may be less and points of easing going forward.

So in some respects we're gonna look for more fundamentals still underpin the market in the coming year than any sort of -- -- -- -- I'm Brenda does the Federal Reserve's policy that they're talking about ending was aimed at increasing jobs in the US and they said -- would keep going until that happens so does this set any extra weight to today's jobs report that we -- out.

I am I gonna have to get to pick up again I'm sorry you're broke up I'm sorry I'm wondering if if the Fed coming out -- in making this that announcement that it may and the bond buying program being that this was aimed.

At increasing jobs in the US is that add any -- -- to today's report.

I think it's certainly -- -- think -- given that over the lot the last NFP and that -- that was well above expectations I think in some respects we need to see a continuation of -- in order to keep the markets at these -- is ultimately there's a little bit -- -- precipice here not just the for the -- that's left.

But ultimately -- the ratings agencies but they would need to see some development in counseling employment numbers on the US if they're if to ward off any sort of -- -- there.

All right let's -- -- IG in London Brenda thanks so much as -- talked you.

And US regulators won't be taking any action against the man once considered to be a possible candidate.

To replace Warren Buffett as the head of Berkshire Hathaway David Sokol lawyer says the Securities and Exchange Commission has completed its insider trading probe against his client.

And that he's been completely cleared.

The SEC started investigating Sokol in 2011.

After he resigned as chairman of -- mid American energy holdings.

With Buffett saying he violated the company's insider trading rules.

Sokol had bought the shares shares that is in lubricants.

The lubricant maker -- result two months before Berkshire announced in nine billion dollar acquisition of the company.

Which -- Sokol to make 83 million dollar profit.

It looks like fiscal -- concerns affected how generous online shoppers -- this holiday season.

Market research firm comScore says holiday spending online climbed 14% from last year.

To 42 point three billion dollars below a testament a 43 point four billion.

According to the firm -- started the holiday season off strong in November but then almost immediately pulled back.

Due to uncertainty over the fiscal -- debate and its potential impact on household budgets.

On the bright side comScore says Cyber Monday -- new record for holiday online spending bringing in nearly one and a half billion dollars.

The parent of bankrupt American Airlines expects to make a decision within weeks on whether to merge with US Airways or fly solo.

That's according to a memo from AMR's CEO Tim -- which says the company continues to evaluate the potential benefits costs and risks of -- deal.

The proposed merger would create the world's largest carrier.

Here's a quick look at commodities oil -- called.

Federal Reserve minutes gold down about 44 dollars trading at 1630 announced what are some little more than a dollar around 92 dollars a barrel.

Imus in the morning continues right now I'm Fox Business.

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