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We have cleared away the rubble of crisis.
And we can say it wasn't renewed confidence.
That the state of our union is strong.
Called for an increase in the minimum wage and comprehensive tax form among other -- Polls -- as.
He his State of the Union Address last night today.
He hits the road to push those items good morning everybody I'm -- CDO as you can see we are recapping president Obama's.
State of the Union Address last night where he unveiled the agenda for his second term and he's putting a heavy focus on jobs and reinvigorating the middle class.
In front of a joint session of congress the president said that a growing economy that creates good middle class jobs must be the north star that -- this country's efforts.
He pointed to recent economic strengths such as businesses creating more than six million jobs since the end of the recession.
A healing housing market and a thriving Wall Street but he admitted we still have a long way to go the president said part of his plan to continue the economy's growth.
For hauling the tax code.
The tax code and ensure billionaires -- -- accounts can't work the system and pay a lower rate than their hard work and secretaries.
The tax code that lowers incentives to move jobs overseas.
And lowers tax rates for businesses and manufacturers.
They're creating jobs right here in the United States of America that's what tax reform that -- -- deliver the Republican party's response to the president's speech which he said.
Outlined a plan that will hurt middle class families.
The tax increases in the deficit spending you propose will hurt middle class families.
It will cost them their raises -- will cost them their benefits that may even cost some of them their jobs.
And it will hurt seniors because it does nothing.
To save Medicare and Social Security.
The president also proposed education tax in Medicare reforms new infrastructure.
And work programs and he -- for mortgage refinancing legislation that he says.
Won't increase the budget by even a dime.
Let's take a look at the markets this morning here in the US futures have been up across the board Dow futures are up to the S&P is up about three nasdaq's -- seven.
Dow futures are up twenty points in Europe shares of French banks Societe Generale lost three point 9% after posting a fourth quarter loss stocks overall are mixed.
We have London down almost five points Paris is down not even a point.
-- of about thirty Q let's take a closer look what's moving those markets Michael Hewson market analyst.
At CMC markets in London Michael a lot of debate over the Euro lately exchange rates and currency and so on -- common currency has left.
The southern countries there fairly depressed indebted struggling and so on struggling to compete internationally and yet support for the Euro remains strong why is that.
Yeah that's that's one of the big problems that was highlighted last week following shoreline to present a land of France and its finance minister.
I'm really is down Citi monetary policy we saw earlier this month that -- European banks are starting to re highly -- -- our -- money.
Well -- finding out the European central banks -- -- and as such as timing monetary policy in Europe and the very point when -- need -- slightly Lisa won and as a result what you're saying is that time.
Money is flowing.
Out of the US dollar.
Out of the Japanese yen and out of the pound essentially because of the loosen monetary policy in those countries and actually pushing the value of the Euro up.
Now obviously that's gonna how the weaker currencies a little weaker countries and for global -- country like Germany which is better able to -- diesel.
On the slightly higher currency that we now saying.
So is the -- -- success wouldn't it be -- here -- those countries could devalue their currency make things cheaper abroad make more money off exports and tourism.
Well that's what the French that's what French policy Mike has a -- arguing brightest running into an all for all -- opposition from the German Bundesbank and in particular against vitamin in German policy -- -- -- thing called -- that it won't fuel inflationary pressure is.
And actually if you look at the the dot CPI numbers that came out this morning.
I actually increased to 3% year on year so there are concerns in -- in particular regions of Europe about.
Higher than normal inflationary -- -- that's running into an all -- of resistance from the European Central Bank.
Who fear that a devaluation of the -- would actually stop governments from implementing their reform programs.
Right it's interesting debate that's Michael -- over at CMC markets in London we appreciate -- -- Thank you -- They're earning him now from Deere & Co.
the farm equipment makers reporting a profit of one dollar 65 cents a share topping the estimate for a dollar forty.
Revenue came in at six point 78 billion dollars topping estimates for six point 72 billion.
Here's a look at commodities now oil and gold -- mixed Imus in the morning continues right now on Fox Business.
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