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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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This is this Imus in the morning.
On the -- Good morning everyone the Vatican press office has announced that Pope Benedict the sixteenth will resign at the end of this month.
Because he doesn't have adequate strength to continue in office the resignation will be the first by -- the nearly 600 years.
And that decision is decision sets the stage for a conclave to elect a new Pope before the end of next month.
Turning out to the weather the northeast is still trying to get back to normal this morning after a weekend that dumped almost four feet of snow in some areas.
Let's get the latest now from meteorologist Maria Molina.
In the Fox Business weather center hi Maria.
Hi good morning Diane and good morning everyone and we saw severe weather over the weekend in the form of tornadoes across portions of Mississippi each.
Even tornado warnings were issued across Alabama and as far west.
As a state of Texas and unfortunately -- we do still have another race for some isolated severe weather won't be as bad as yesterday's risk the please -- -- if you look anywhere across the southeast also expecting some heavy thunderstorms out here.
So flooding -- -- concern across northeast throughout your morning commute many of you will have to deal with some light snow and even some freezing rain and -- comes.
On Monday just a couple of days.
After the nor'easter that impacted us Friday into Saturday and -- across north central blizzard warnings posted and also winter storm warnings.
With as much as sixteen inches of snow forecast.
All right that's -- Alina from the weather center thanks Maria.
And they're still talking that the boards of American Airlines parent company AMR and US Airways have reportedly delayed a meeting to discuss their potential merger until Wednesday.
A source tells Reuters AMR needs more time to finalize details including.
-- our CEO Tom -- exact title and role in the new company.
On Friday US Airways pilots approved an agreement covering their pay and working terms if there is -- merger and -- similar to the deal.
American pilots approved to back in December.
The eleven billion dollar deal would create the world's largest airline.
Boeing says the test flight of -- 787 dreamliner over the weekend was uneventful as it tries to pinpoint the cause of -- battery fire.
That grounded the new airliner three weeks ago.
The 787 took off Saturday from Boeing field in Seattle.
As a crew of thirteen pilots and technicians monitor the performance of the planes to lithium ion batteries -- the same kind used.
In cell phones.
The Federal Aviation Administration gave permission for the test flights last week and that dreamliner.
With grounded after battery on a plane that recently landed in Boston caught fire last month nine days later.
Battery smoke -- an emergency landing.
In Japan.
With thirty minutes away from the opening bell on Wall Street looking at futures you've got green arrows across the board the fairly flat out Dow futures are up to seven points.
Isn't feasible on and the NASDAQ set three let's get a preview of the trading day to come now from -- at least on the floor of the New York Stock Exchange hit -- -- Hey good morning Diane good Monday morning everybody placing the teachers here are -- to slightly higher open we've seen.
The banks not too far off the unchanged line that really has been.
The trend of these markets where we're not too far off that unchanged line invent the thing is that last week we gave back a little bit after five straight weeks of gains.
And new highs that we haven't seen since five years ago back in 2007 last week we -- back just a little bit so we did see a pullback last week.
Just sound -- it was sixteen points that we actually finish to the downside so not a dramatic move and that's my point of saying that.
We're seeing the banks and major market averages not too far Byzantine -- let's talk about some names it'll certainly be on the -- This -- watches in got there has starting their road show presentation we've seen Zynga.
Running up and doing well lately -- today it's looking like it's going to be up about 3%.
We're continuing to watch the deal -- -- the deal would be doing that for you.
This morning and assuming it gets this nod.
The Wall Street Journal is reporting this you are seeing US Airways for example looking batter its up about two and a half percent so that'll be one.
To watch AIG another winner that we'll continue to watch and -- CSX with -- -- barrel get in the Barents bounce on the downside.
Keeping an I am Blackberry name that ran up plastic over the top off the -- here from the savings of about 30% last week.
Blackburn the new Blackberry ten which launched on January 30.
A lot of positive comments last week from the analysts today it looks like it's going to out.
Pull back a little bit in this now to -- capital was talking about intense composition.
From apple and apple releasing a lower price iPhone now that may in turn compete with Blackberry -- the Blackberry ten.
Also watching Google.
You do see that Google did hit a new all time high less biggest certainly remember watching vowing -- when Google was 85 dollars and IPO way back went.
Blast hit a new all time high.
Today it's looking higher once again as we see that does -- is starting up to.
Two and a half billion dollars in share sales to keep an eye on that one as well as some other movers that I'm going to keep an eye -- some some analysts calls.
I would also keep an eye on whole foods markets -- likely to increase.
Their estimates over the full year of third 2013 according to cancer they have a buy rating.
Reiterating -- buy rating and Nike upgrade over JPMorgan priced at 64 dollars up from.
Fifty and they put an overweight -- Nike up from a new child self that we want to watch as well back to -- Right doesn't help that alleviated any act that its days -- people.
Imus in the morning continues right now everybody on Fox Business giving you the power to prosper.
