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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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Imus in the morning.
On the positive.
-- the -- -- to present their plan to balance the budget over the next decade.
Tomorrow congressman Paul Ryan -- also the House Budget Committee chairman we'll present that budget proposal for next year and beyond the latest plan.
We'll call for deeper cuts than the one Ryan released last year.
Which balance the budget after 2.5 years speaking on FOX News Sunday Ryan said a balanced budget will aid the economy.
The reason we -- a balanced budget is not make the numbers simply add up.
It leads to a healthy growing economy that creates jobs it's a means to an end and the means is to get to eight.
Good growing economy create jobs opportunity.
I'm glad the Senate's doing a budget it's the first time in four years our concern is that they may never even proposed ever balance the budget and we think that's -- responsible.
Speaking of the senate this week lawmakers there we'll take up the democratic version of -- continuing resolution to fund the government through the end of September.
Checking the markets now here in the US after record wheat futures are down across the board Dow futures are down eight the S and -- down about two and -- nasdaq's down.
Almost five points in Europe Fitch downgraded Italy from a minus to triple B plus -- there are mixed we've got London up almost fifteen points.
Paris is down almost fifteen in Frankfurt down almost wanna.
Meanwhile some US companies are reportedly stashing more of their money offshore and away.
From US taxes.
According to analysis by the wall street journal of sixty big US companies the -- stashed a total of 166.
Billion dollars overseas last year.
That move protected more than 40% of their annual profits from the IRS the journal analyzes sixty companies because each of them had held.
At least five billion dollars offshore -- 111 within that group.
The journal found ten parked more earnings offshore last year than they generated for their bottom lines.
Untaxed for an earnings have become a big part of the debate.
Over US fiscal policy and tax code the joint committee on taxation estimates changing laws to fully tax overseas earnings.
We generate an additional 42 billion dollars for the treasury this year alone.
And customers looking to get their hands on the new Blackberry -- Smartphone may not have a much longer to wait Adam Shapiro has more on that from our newsroom hi Adam.
-- and I'll give -- -- Blackberry for a couple -- particular got so much it's great you know the -- like very -- Smartphones could possibly hit store shelves by the end of this week T-Mobile listening to customers can begin ordering the device today it could be delivered by the end of the week -- he's gonna.
Jump in all this on March 22 research in motions and sell in the -- very -- in Canada already.
Now they're -- -- be available in the United States the question though is they've seen their market share go from double digits down to what was it last fall some point 9% of the Smart.
Phone market and falling and then on Friday.
Blackberry shares ram Research in Motion.
Close down 1%.
So -- this device turns things around is another question.
They will March Madness is also almost -- -- we expect.
I can inspect a lot of Laker now on we're gonna get the brackets on Sunday and then Tuesday week from tomorrow we're gonna start -- But here's the the other as a recent study that -- there's big money for the NCA -- -- TV networks in this.
Of the last ten years advertising revenue from the -- -- five point nine billion dollars.
One billion for the -- just last year the championship game.
A 32 spot one point five million bucks that same 32 spot on the NBA championship game.
To bargain 460000.
Dollars that's an hour salary for you right -- Only 460 although it is okay collaborate and that -- -- that money I -- that that you hear from the newsroom thank them to you.
And breaking news Boston properties is announcing a succession plan.
The real estate investment trust says Owen Thomas will succeed Mort Zuckerman is Chief Executive Officer.
And join the board of directors effective April 2.
This government will remain as executive chairman and return to his original role in company activities.
Retail sales -- -- reports on inflation will be front and center on this week's economic calendar.
The retail sales report for February comes our way on Wednesday and expected to reflect.
The two percentage point payroll tax hike that -- effect on January 1 Thursday we'll get initial jobless claims and producer prices for February.
A look at inflation on the wholesale level and then Friday will wrap up with a look at consumer prices as well as the mood of Americans.
With the University of Michigan consumer sentiment survey in the meantime let's take a look at commodities oil and gold have been searching for direction this morning similar markets actually got oil down -- seven cents trading around 92 dollars a barrel gold is up.
Almost two dollars and 1578.
Coming up this hour and other performance and musician Todd Snyder and now -- -- -- them live on Fox Business giving you the power to prosper.
