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Senate to Take Up Two Last-Effort Bills to Avert Sequester

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  • Description

    FBN's Diane Macedo weighs in on the morning markets.

  • Duration 2:34
  • Date

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Good morning everyone let's wrap things up with a live look at the markets in Asia markets ended the month and a high note thanks in part to some positive economic indicators.

Three of the four major markets had gains of 2% or more Japan's Nikkei.

Had the biggest gain after the government of prime ministers in -- they nominated -- stimulus car Rico Kuroda to lead the bank's us defence Central Bank.

Boosting hopes for growth there in Europe stocks are getting a boost after fed chief Ben Bernanke and ECB chief Mario Draghi both defended their loose monetary policies.

-- that they teen Paris is up fourteen and Frankfurt's up 43.

Here in the US we also have green arrows across the board not huge amounts Dow futures are up nine.

It's -- -- one and a half the nasdaq's up for this comes after stocks soared yesterday to fresh five year highs.

The Dow added 175.

Points it is now less than 100 points.

From a record high.

Lawmakers and the senators have taken two bills today in a last ditch effort to avoid 85 billion dollars in across the board spending -- set to begin tomorrow.

The Democrats offer a bill that would replace the cuts -- the more gradual plan to shrink the deficit by 110 billion dollars over ten years.

Mostly by raising taxes and cutting farm subsidies Republicans oppose a tax hikes and will instead offer a plan that would give President Obama the power to allocate.

The 85 billion dollars in cuts as he sees fit so long -- no more than half of the cuts come from the Pentagon.

Meanwhile the president and congressional leaders are set to hold their first face to face meeting on the cuts tomorrow when the deadline hits and that meeting is not expected to produce.

Any breakers.

The senate has confirmed Jack blue as the next treasury secretary of lawmakers -- Lou it is 71 to 26 vote.

After they grilled him in recent weeks about his time at Citigroup from 2006 to 2008.

When he worked as chief operating officer of two divisions of the bank.

-- will replace former Treasury Secretary Timothy Geithner his first major task will be helping to soften the economic blow from the automatic spending cuts.

Set to take effect tomorrow.

And in the back and forth battle between apple and Samsung the winner this morning is apple.

According Tokyo ruled in favor of the Cupertino company in a patent lawsuit over mobile devices it was Samsung that brought that suit to court.

Here's a live look act commodities oil and gold.

Down this morning we have oil down by about 34 cents trading around 92 dollars a barrel gold is down a little more than seven.

Dollars there at 1588.

Announced.

Imus in the morning starts right now on Fox Business giving you the power to prosper.

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