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CES 2013 Kicks off in Las Vegas

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

  • Duration 5:02
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-- -- -- -- -- -- On the Fox Business.

Good morning everyone President Obama set to announce his nomination to replace Treasury Secretary Timothy Geithner.

Sources tell Fox News the president looks up White House chief of staff Jack Lew as -- your successor likely by the end of the week.

Geithner -- for more than a year that he'd like to step down from the position spends more time with his family.

-- expected nomination is a sign that the president knows his next Treasury Secretary will be on the front lines of some major budget battle starting.

With the debt ceiling negotiations during the last debt ceiling fight in the summer of 2011 -- served as white house budget director and clashed repeatedly with Republicans.

Advisors to the president say -- deliberately kept a low profile during -- recent fiscal cliff talks.

In an effort to not fuel tensions with GOP leaders.

Earning season is set to kick off after the bell today with the release about how its fourth quarter results.

The aluminum producers expect to report a profit of six cents a share on revenue of nearly five point six billion dollars.

And that's compared to last year's adjusted loss.

Of eighteen cents a share on profit of nearly six billion dollars -- -- performance has been hindered by weak aluminum demand and prices.

As result of the struggling global economy specifically slower growth in China and the debt crisis in Europe.

Two weeks ago Moody's warned that it might downgrade -- -- which could -- the company's credit.

In junk territory -- be watching now -- very closely checking the markets ahead of that.

Here in the US -- have been searching for direction this morning received mixed market now with Dow futures up by four point.

Suvs down about half a point in the nasdaq's up also fraction of a point -- in Europe.

Despite some disappointing economic reports stocks there are in the green across -- got London up seventeen.

Paris is up 2.4 in Frankfurt's up sixteen.

Let's take a closer look now at what's moving those markets -- Josh Raymond chief market strategist at city index in London Josh.

Japan has announced that it will help Europe through its debt crisis by purchasing bonds issued by the eurozone bailout fund how optimistic should investors.

Be about this is this why we're seeing green arrows despite all the negative economic news to come from Europe.

I'd say let's just move won't get to ahead of ourselves into debt with its -- -- I -- -- since it that they're looking to buy embassy.

Euros and -- stressed bonds took to help.

The fiscal situation in Europe and and -- European bond markets were sovereign stress but markets but realistically speaking this is another way of them -- to depreciate -- So about century currency manipulation that -- it in a weekend because it helps drive there and exports like.

That's really what this news about a lot of people in the market already seen the yen being progressively -- -- such assurance and a lot of it today.

On the back of that and on the back of interest in this -- -- their expected.

From the package say I would say this is too much for surprised but let's look at -- -- -- doesn't -- much of solving the helping to solve the problem in Europe is more about.

Depreciating yen to help -- Japanese exports.

And speaking of exports just German exports in November recorded their sharpest monthly drop in more than a year and German exports.

Have held up relatively well throughout the crisis so should we be worried that they're starting to lose their immunity in Iraq.

Yes I certainly would be -- and it's one of those things -- The strongest economy overseeing Europe is it's not consent to -- the impacts of the problems and you found him in southern European countries like huge bang for instance we now about a problems that nothing -- age is not just in -- exposed coastal city imports tape.

Imports fell surprisingly by three point 7% -- -- can have up to the market is looking for great that's -- worth a bit.

A point 4% of not what that does is that the -- -- we can course it has helped the to narrow the trade deficit but it and that the trade balance but what do has done also is a highlight potential event.

In -- years and is gonna remain in recession Q4 which we're probably looking at seem potentially here in UK.

That's Josh Raymond at city index an -- -- not -- great news forest Jack but we appreciate having you on nonetheless thanks so much.

-- And AIG which just paid back of 182 billion dollar taxpayer bailout may see you Uncle Sam.

According to the New York Times court documents show the insurance company's board will meet tomorrow.

To consider joining -- 45 billion dollar shareholder lawsuit against the US government now the lawsuit claims.

The government's rescue of the company deprived AIG's shareholders of tens of billions of dollars and took private property for public use without appropriate compensation.

Former AIG chief executive Hank Greenberg who still a major investor in the company.

Filed a lawsuit in 2011 on behalf of fellow shareholders he since urged AIG to join a case which could -- the government into settlement talks.

Here's a look act commodities now oil and gold are -- we've got oil up about fifty cents holds a little more than nine dollars.

Coming up Imus is -- Martha -- -- Fox News and now here's the I NN live on Fox Business.

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