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Personal Income Crushes Estimates

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  • Description

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

  • Duration 4:54
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Imus in the morning.

On the fox.

Good morning everyone has been a busy morning for earnings and data had just a little while ago the Labor Department reported that 368000.

People filed for first time jobless benefits last week.

That was more than the estimated 181000 more to be exact and it is also more than the prior week which stated 330000.

We also got personal income.

And spending numbers in for December personal spending was up point 2% that was lower than the estimate.

For a rise of point 3% keep in mind spending accounts for more than two thirds of US economic activity.

But we did make more money last month -- personal income came in up.

Two point 6% way above the expected point 8% rise the employment cost index for the fourth quarter also came in -- point 5%.

Matching the estimate and that indexes the broadest measure of labor costs taking into consideration all parts of compensation including wages as well as benefits.

Thirty minutes away from the opening bell on Wall Street now looking at futures have been a very flat morning still there to Dow futures are down three the S&P down.

Not even a point the nasdaq's down about eight.

Let's get a preview of what else to expect from the trading day from -- -- had a lead is now on the floor of the New York Stock Exchange made -- call.

Good morning -- good morning everybody well the dollar after a -- -- new lows is virtually flat.

This morning we're seeing that markets coming under a little bit.

Of pressure we've gotten in a slew of earnings just touch on some of the economic reports there's obviously lead our market sometimes let's talk about these book and name that really has been.

Pushed around -- IPO of 38 dollars and went to seventeen dollars.

We are looking at it this morning after the numbers came in.

The profit decline on the spending.

Based looked at -- lots of spending.

And with that you are seeing the stock.

To the downside it certainly want to watch it has run up in the last few months but today.

Looking lower UPS coming out with their numbers often UPS FedEx.

They are economic indicators see how much people are shipping and buying an ordering in manufacturing.

Hershey another name that'll be on the move after its quarterly report don't forget inherent in the thick of earnings season -- -- -- coming out.

With their numbers their earnings per share of 74 cents looks like it was a little light on that one.

Though revenue looks a little better also want to take a look here at Research in Motion right attacked yesterday -- Blackberry 10-Q model.

The long awaited Blackberry ten has been a lot of worries about that not rolling it out today was the launch was this week.

They actually have to get it until March or April and a lot of analysts worry about that is it really deceive offer Research in Motion which is now called Blackberry -- -- parties origination anymore.

Downgraded at that seems across the board Credit Suisse evercore.

And they -- and over it after your capital saying that -- a challenge for that Qualcomm out with their numbers -- -- is looking good today.

Qualcomm is up over 6% this morning so keep an eye on that tac related.

Stock and they also boosted their 2013.

-- -- a couple of other needs to look at Under -- and MasterCard.

Under -- -- their but he knows it for their athletic Wear area.

Right good for work -- out of running your skis stuff whatever you aren't aware of for fourth quarter earnings per share.

-- beat the street and now Under -- is looking up -- about a half percent this morning MasterCard.

Also looking better earnings per share beating their -- MasterCard so that's looking like it's gonna be a winner as well and let's just checking in.

On apple -- certainly so many folks own.

Because the either -- -- stayed out thought they had great products are made -- own it.

There's so many funds which do hold apple.

Let's see where it is today.

It's obviously it was a 700 dollar stock back in September it's been hovering around 450.

Today it's looking to open slightly lower at around 455.

-- -- -- All right nickel -- ladies from the -- -- thanks to call.

And Scientific Games has agreed to buy WMS industries for 26 dollars a share in cash.

Or one and a half billion dollars shares of WMS are soaring in the premarket the deal will combine.

Two leading companies in the gaming industry Scientific Games supplies lottery tickets and video gaming systems while WMS makes gaming machines and interactive games.

Meanwhile Citigroup reportedly is planning to get out of consumer banking and more countries as it works to cut costs and boost profits.

A source tells Reuters the bank has been looking for countries and products to cut for months now.

And just last month Citigroup said it was -- -- from consumer banking in Pakistan Paraguay Romania Turkey and Europe life.

As part of a plan to save more than one billion dollars a year and eliminate 111000 jobs.

Cities in 100 come -- countries with consumer banking operations in forty right now.

The cuts -- -- -- Michael Corbett first major steps after becoming chief executive in October.

Here's a look at commodities now oil and gold are both down Imus in the morning continues right now on Fox Business.

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