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World Economic Forum Begins in Davos, Switzerland

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

  • Duration 5:02
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Imus in the morning.

Call upon the.

-- house set to vote today and a plan to delay the debt ceiling deadline until May nineteenth.

Legislation would also withhold pay from lawmakers in the house or senate if -- chamber of fails to pass the budget this year.

And the move marks a change in strategy for house Republicans are backing off demands that any debt limit increase has to be accompanied.

By equivalent spending cuts the White House says President Obama would not block the bill if it passes.

Treasury says if the debt limit isn't raised the government will default on its obligations by as early as mid February.

Shares of Google -- more than 5% in the premarket after the Internet search giant's fourth quarter earnings beat expectations.

After the bell Google reported an adjusted profit of ten dollars 65 cents share topping the estimate.

For ten dollars 42 cents while revenue excluding advertising expenses totaled eleven point 34 billion dollars falling short of expectations.

The latest results include Motorola mobility which Google acquired in May so they don't compare directly to the prior year but the company does say advertiser spend more money.

Online to attract shoppers this holiday season and we're getting earnings in from United Technologies -- diversified manufacturers reporting a profit.

Of one dollar four cents a share topping estimates for one dollar three cents.

Revenue came in at sixteen point four billion dollars that was a slight -- the expectation there was for sixteen point 62 billion.

We also earnings in from Coach.

The retailers reporting a profit of one dollar 23 cents a share -- of the estimate for a dollar 28.

Revenue was also missed that one point five billion dollars analysts were expecting.

One point six billion.

Meanwhile CEOs world leaders in power brokers are gathering in Davos Switzerland for the 43 annual meeting of the world economic form.

Our own -- claimant is there with a preview now of what's ahead.

Security is as tight as ever here in Davos Switzerland for the World Economic Forum why well on top of -- -- -- begin with the fact that there will be some fifty.

World leaders.

Coming to this tiny Swiss village in the Alps.

To talk about all kinds of ideas concepts about growth about problems and issues that they are facing everybody from German Chancellor Angela Merkel.

To the UK prime minister David Cameron to the prime minister of Russia Dmitry -- that debt to talk and exchange ideas but.

You sprinkle 900 different CEOs into that mix and you've got deal making and networking.

Will be bringing you all the news from Davos Switzerland anything that breaks here because we've got those leaders who will be speaking with us all week long.

We will be speaking with Bill Gates of the bill and Melinda gates foundation of the Tron XCEO Wal-Mart is -- Merck's CEO.

Coca-Cola CEO and JPMorgan chase CEO Jamie Dimon that's Thursday.

Don't miss that one.

Right here from Davos Switzerland we've got it also stay tuned to Fox Business starting today.

-- I will do live banks and we're getting earnings and now from Motorola solutions that communications equipment maker.

Is reporting an adjusted profit of one dollar ten cents a share the estimate there was for one dollar two cents.

Revenue came in at 2.4 four billion dollars just -- of the estimate for 2.4 five billion.

And markets overall are mostly lower ahead of today's vote on that US debt ceiling limit we have.

US futures currently mixed Dow futures are down by one the S and -- down almost to the nasdaq's -- three in Europe.

Prime minister David Cameron pledged to hold a referendum on the UK's role in the European Union.

After the next General Electric and election that's due in 2015.

Novartis meanwhile gained 2.5 percent after the drugmaker appointed a new chairman.

And beat estimates with its fourth quarter earnings you know lever rallied two point 6% after reporting better than expected sales growth.

And stocks in Europe like here are also mix would take a closer look at why now with European.

Markets analyst Brenda Kelly -- market analyst at IG and London.

-- what do you make of this house vote expected here in the US they're not going to increase the debt limit itself.

But increase it automatically enough to hold things over until up through May eighteenth until May very good when you make.

I think it's pretty much another situation -- fact kicking the can down the road to -- to perfectly honest with you and I think the markets like punish them forest.

Again I do believe in somewhere is respects but the -- we've seen from the beginning of the year -- -- the -- has been a bit of an irrational exuberance.

I think by pushing at this debt ceiling resignations at how you gonna put -- bit of pressure on -- everybody that we've seen in Sitchin I think even now we're looking for correction in the European markets are already seeing on an Asia at the moment so I think -- -- is pushed up further we could see a little bit of a -- -- equities as the risk off risk on sort of pulls off a little.

It and I will be watching the most closely and -- markets -- friend -- -- -- Jim -- always great having on Brenda thanks.

Yeah let's take a look at commodities now oil and gold let the markets are also makes this morning oil's up by about seven cents gold is down about thirty cents.

Imus in the morning continues right now on Fox Business giving -- the power to prosper.

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