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Retail Sales Up 0.1% in January

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  • Description

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

  • Duration 5:09
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-- we have cleared away the rubble of crisis.

And we can say I -- renewed confidence.

Of the state of our union is strong.

Everyone as President Obama giving his State of the Union Address last night where he called for an increase in the minimum wage.

And comprehensive tax reform among other proposals.

And he hits the road today to push those items good morning everyone we are checking in now.

Again on the president's State of the Union Address the president will head -- North Carolina today as he kicks off three days of travel.

To rally support for the job creation and economic proposals he unveiled.

In that address last night our -- rich ads in joins us now from Capitol Hill with Morgan morning it's.

To good morning -- Asheville, North Carolina today the Atlanta metro area tomorrow -- White House officials.

As described as a six week push.

To push these economic proposals the president announced last night much of -- new spending on research and development energy education infrastructure and a new push to increase the minimum wage.

No one who works full time should have to live in poverty and raise the federal minimum wage to nine dollars an hour.

Businesses hire less people.

That's the impact governor bill just hire less people to do the same amount of work.

It sounds good at the outset I mean if you tell people to the government raise the minimum wage.

People -- sure that make sense until you explain to them what it actually does historically so just because something sounds good at the outset.

Doesn't mean it's a good idea.

The president also pushed congress to agree to more deficit reduction he says it's essential that taxes.

Be increased on wealthier Americans also called.

For congress to pass the Cap and Trade System though he said that his administration the EPA stands ready to act.

In case congress doesn't get a Cap and Trade System through which given leadership in the house in the control of the house Republicans is incredibly unlikely.

It will happen also called.

Free trade agreement with the European Union.

Along with gun control and immigration.

Back to you.

All right -- says -- rich as it like can I say your name rich that position is displayed at the elect president -- that I -- today.

Meanwhile lay out they're coming to Thomson Reuters Dow Jones reports the company will cut when he 500 jobs its financial and risk division by the end of the year.

Thomson Reuters expects to spend about 100 million dollars for severance costs.

And US retail sales barely rose in January as tax increases and higher gasoline prices restrain spending.

Sales came in up point 1% as expected but if you take out the auto component -- -- -- a slightly better than expected point 2%.

Meanwhile import prices for January came -- point 6% from last month.

Slightly below the point 7% estimate X -- prices were -- point 3% right in line with the expectation.

Thirty minutes away from the opening bell on Wall Street if you take a look at the -- -- green arrows across the board Dow futures are up thirteen.

Yes -- -- up almost three the nasdaq's up almost nine.

Well let's get a preview of what else to expect this trading day from the -- -- is now on the floor of the New York Stock Exchange -- a call.

Good morning -- good morning everybody -- yesterday we closed at five year highs for the Dow and the S&P we've been hovering around the 141000 mark not too far off.

From our all time high of 14100164.

And change the dollar is slightly lower this morning the sentiment.

On Wall Street is global picture that seems a little better we're seeing the banks slightly higher we're in the thick of earnings season on the heels.

Up the State of the Union Address in the president I'm sure that we'll also be a hot topic today.

We are seeing the banks given that move in a little bit to the upside names like Bank of America yesterday -- -- site.

Thanks did really well names like Bank of America Citigroup Goldman Sachs JPMorgan all hit.

52 week highs multi year highs and some of those cases -- some of the names on the -- about Comcast and General Electric that'll be one to watch.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Getting an upgrade over at Sterne -- this morning to a -- from a new -- Groupon.

Is looking good today on the downside Bankrate dot com that came out with their quarterly report yesterday after the bell.

We'll have a today stock tanking.

Down about 17%.

So that we'll certainly be one to watch -- also keep an eye on Netflix this morning of course we've watched Netflix on its hair.

-- now you have JPMorgan putting a price target of over 200 box 205 dollars.

And that's up from a 180 for Netflix so upside potential for that and Philip Morris.

While that was upgraded today over at no more the price target 9480.

Upgraded to neutral from -- reduced which doesn't really sound.

That promising however the 98480 target will be one to watch for Philip Morris -- -- -- the upside next.

Alright that's it well at least from the -- stock exchange thanks to -- Here's a look at commodities now oil and gold have been mixed for most of the morning though we -- three hours across the board now gold is up two dollars and fifty cents.

Hi -- in the morning continues right now on Fox Business.

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