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Stocks Edge Nearer to Record Highs

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 5:00
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This is this Imus in the morning.

On the fox.

Good morning everyone will be keeping a close eye on the Dow today as it closes in on its record high.

Investors were able to brush off concerns about a potential slowdown in China yesterday to help the index swing.

From early losses to a gain of 38 points closing at 14100127.

The -- current high as 14100164.

Which it hit on October ninth of 2007.

-- a stock market has rallied this year on optimism that the US housing market is continuing to recover.

And that companies are hiring -- strong earnings -- continued stimulus from the Federal Reserve.

Have also boosted the market so far this year the Dow has risen nearly 8% and if you look at US futures.

It right now our indicating another rise today Dow futures are up 31 yes and -- of three the nasdaq's up almost nine.

Over in Europe that looks like investors there are let's go to Asia first stocks -- climbed on expectations that central bankers will continue stimulus measures.

As China maintained its economic growth target for 2013 the Nikkei rose point 3% closing at its highest level in more than four years.

Now let's take a look at Europe stocks there seem to be taking a cue from Wall Street gains as well as Asia got London up fifty same goes for Paris.

Frankfurt's up about 130 -- -- a closer look at what else is moving these markets to -- -- land wrecks of rabobank international in London.

Yeah on European finance ministers.

-- sort of paving the way for -- budget policies in light of Italy's deadlocked election and France's refusal to make deeper budget cuts.

As well as protests against austerity all across Southern Europe but is this the right movers today -- Rip the band aid off and tried it pledged through here.

Let's -- rewrite move because -- -- if you weren't Kerry too far.

At least to a dollar spiral ultimately to trying to control debt as a percentage of GDP.

And you can -- -- home that.

That's but if you at the same -- I'm neglecting GDP that that's GDP measures not he's not improving.

The fears of course go to -- -- of -- off that austerity is always the next government's problem.

And the out of fear that we have is that of a broader set of measures ever since drug he's promised to do whatever it takes.

They have been backtracking season to bailout -- now seems to have no motif in eurozone so.

-- -- by itself and isolation it's growing the right decision.

But -- then that is more for broader trend that actually isn't that -- that remains to be seen and.

And EU finance ministers this -- assault.

Area.

You know debate between and you see this.

Opening up -- we've been seeing this you know back and forth over whether they should go for growth or whether they should go for austerity do you see a middle ground that.

-- -- a day they like to choose from growth.

And I guess this'll summed up there what some politicians have said.

Especially if you meet him in private which is that essentially to say we know what needs to be done -- is trying to figure out how to do it and get reelected.

And -- -- pressure -- the -- care.

Cut.

-- started -- GM but I just wanted to say ended another thing is these finance ministers are coming together to try to curb rules curb banker bonuses.

EI and they've got criticism saying that they're driving away talent and chancellor your chancellor George Osborne is headed there now to try to convince them to scale these things back -- think they'll have any luck.

I think you'll find it very difficult because the simple narrative of the crisis is that's been sold by the politicians is that the bank is of course all this that was the higher bonuses that -- all of it.

And to address that there are coming up the DC with these measures it's politically.

Very savvy and popular.

What are the address is revealed deals remains to be seen very much I think -- key concern here is.

That's just from analyst point of -- take a step back the response may be -- fixed.

Components of celery are going to be increased -- for the banking industry makes it much harder to face tough times.

-- -- -- lamb racks over in London I'm rob a bank we appreciate -- thank you.

And hedge fund manager of the -- -- pershing square fund reportedly ended last month on a flat note.

According to Reuters actually told investors late yesterday that the fund was off point 1% in February due to a double blow.

On the last day of the month shares of JC Penney lost 17%.

While the supplements company Herbalife witch purging is shorting climb to more than seven and a half percent.

Despite those -- purging is performing better than the average hedge fund up three point 6% so far for the year.

And one of office Max is largest shareholders may -- its planned merger with Office Depot.

Neuberger Berman has a three point 7% stake in office Max and says an SEC filing that investors are concerned.

Office Max may not issue a special cash dividend to return money to investors.

-- also concerned about the value of Office Depot shares without a sale.

Of the company's 50% stake in a joint venture in Mexico.

Office Depot agreed last month to merge with smaller rival office Max in -- 976.

Million dollar all stock deal.

Let's take a quick look at commodities now oil and gold -- Imus in the morning continues right now.

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