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Imus in the morning.
-- -- Good morning everyone has sent check the markets now in yesterday's release of the minutes from the last fed meeting is being felt in the market stocks are down across the board.
Could could because policy makers have expressed concern that the Fed's bond buying program could eventually unsettle the markets and bring Hamas has -- the Central Bank here in the US futures are.
In the red we have Dow futures down 24 the S&P is down three -- the nasdaq's down eleven.
-- every year the first reading on eurozone PMI for -- -- came in below expectations.
For both manufacturing and services both indicated contraction.
And markets there you can see that like that so much London's down 105 almost one of six Paris is down about 63 in -- down almost 140.
The -- a closer look though what's moving those markets to build your guard chief economist at markets dot com over in London -- Q3 was always supposed to be temporary program so.
Why are markets taking such a hit at just the hint that there might be a pullback.
Well I think what I -- diet is a simple fact is you said.
Here in the UK yesterday we got a much more dovish statement from the Bank of England last night is a situation where.
Always seeing a slight better improvement in the United States and then of course as you just mentioned the PMIs in the eurozone at the last week's GDP.
Real dichotomy -- if we don't have the banks bailing us out who -- is gonna bail us out.
Bill hold that thought I have earnings in from Wal-Mart now I just wanna go to them very quickly -- be -- back to you but we I'll do have these earnings in from Wal-Mart now on the world's largest retailers reporting.
And adjusted profit of one dollar 67 cents a -- the estimate by ten cents revenue -- -- At 127 point nine billion dollars that was shy of the -- -- for 128.
Point eight billion dollars.
Let's go back over to bill who -- -- -- interrupting -- -- Wal-Mart is that they've let you try to get these numbers that as soon as possible but.
There but you continue -- say this you know this is -- temporary thing and yet everybody seems to be -- panic mode.
At the thought that they might stop buying these bonds.
-- that I think maybe it's just a question of people have felt that the equity markets at this is -- start of the year.
No matter what part of the where you're looking at much to hide maybe this is just a reason for the facts to take some profits -- -- what do you think we're seeing is a massive increase -- and and movement in the dollar right now.
Also in the bond -- but it what is a question up.
My feeling -- right now we will see at least fifty billion in quantitative easing probably April or may from the Bank of England.
-- it justifies at least one rate cut by the European Central Bank but I I really think it's probably people I can -- -- -- we've gotten much better than we should let's take some profits going to cash watch you'd wait right.
One does not dependency ever ended bid markets are banking on Clinton now is there ever a time where they can pull back and not see this.
Kind of a risk.
No I don't think so and I think one of the things if you've been look at.
In the fixed the last couple race we're starting -- -- volatility returned to the market I think we've over stretched -- -- but really it's a question right now.
Long the dollar long bonds and watch and wait but it really is going to be a question up I don't see the Fed -- what.
Anything no change in rates until probably late 2015 and if you look we need -- one point.
A 1% drop in the unemployment rate to have a minimum.
Reduction of eighteen trillion or billion.
In the quantitative EC and what does exist maybe just a question up in the old today he's back when both of us -- youngsters because.
Short trousers quantitative easing was inflation -- Is no inflation anywhere in the world so maybe it's just -- -- the reason we will probably steadily and next week but right now it's sell equities.
By the dollar bond that now all shall we say let's pile up what -- dollar because her right that's bill -- From market dot -- thank you so much -- great having you back registered.
And let's recap the thirties and from Wal-Mart now again the -- largest retailer here reporting adjusted profit of one dollar 67 cents that topped the estimates.
By ten cents revenue -- was -- -- that came in at 127 point nine billion dollars the estimate there.
Was for 128 point eight billion US same store sales for the quarter up 1% international sales were up seven point 4%.
The Justice Department reportedly is investigating JPMorgan Chase over allegations that Bear Stearns provided misleading information about its mortgage products leading up to the financial crisis.
Sources tell Reuters the DOJ is looking into whether Bear Stearns altered due diligence information that third parties provided.
About the quality of mortgage loans packaged into securities.
-- JPMorgan acquired Bear Stearns.
It 2008 fire sale encouraged by the governments who will see how that when -- -- the take a look at commodities now oil and -- -- of oil down.
-- more than a dollar traded at 94 dollars a barrel gold is down.
About five dollars and 1570 -- announced.
Imus in the morning continues right now on Fox Business.
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