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-- -- -- -- -- Good morning everyone -- -- of the papal election and the company is still hasn't chosen the next leader.
Of the Catholic Church black -- -- out of the kidney above the Sistine Chapel today signalling.
No decision has been breached two more votes are scheduled for later today in this comes after one vote was held yesterday.
Checking the markets this morning here in the US futures are down across the board Dow futures are down 25 the S&P is down three nasdaq's down about five.
In Europe Italy -- and weaker demand and higher borrowing costs after a bond auction there.
Three year borrowing costs rose to their highest level since December 4 point three billion dollars worth of those bonds were sold -- a yield.
Of 2.4 8% up from 2.3 percent and this is the first long term debt offering since the country was downgraded last week.
Stocks in Europe are also in the red London's down fifty to Paris and Frankfurt.
-- both down almost sixteen.
Let's take a closer look now at what's moving the markets morning with Gregor and a market analyst at Al Arian lending credit time borrowing costs.
Are on the rise again how does this complicate things.
I don't think I mean is almost -- complicates things that only thing is too much of a surprise given -- that we should not political uncertainty in Italy.
Since the election last month also Fitch's downgrade -- this week we saw.
A similar reaction and need one yeah bond auction earlier in the week when we -- Borrowing costs rise by around twenty basis points which in something similar this morning at things eighteen basis points mention on the three it -- so it's not reits and which are straws in the -- -- what should really complicates things -- -- this auction it just highlights a problem is that little bit of actual sentencing now.
In the markets following likes I don't Fitch downgrades and also the Italian election which is still results.
And what about in the UK one of the country's leading forecasters.
It's signaling that -- on track for a triple dip recession -- you worry about that.
Of course we -- mean.
We've been hit -- -- some people who claim we wouldn't effect on -- recession -- not been for the Olympic effect.
In the middle allow kids in which would suggest that we've actually been recession offer closing on two years now.
So there it is awfully concerning -- I think.
While -- GDP figure -- so yes I was it to highlight if we could see a triple dip recession in the first quarter this year we have known this being not not massively -- your reading in the process.
And I think when you take a look like for some consensus -- which makes such a large portion of UK GDP we've actually seen the biggest -- -- and actually been to -- have we seen novagold.
Figure hit from launch we may just to skate -- -- -- session with a small amount growth in the first quarter.
-- -- on try to keep -- positive we appreciate it thank them since and we're getting earnings in now from express.
Reporting a profit of 75 cents a share topping the estimate by a penny.
Revenues also -- that came -- at 728 point seven million dollars the estimate there was for 722 point four million.
Meanwhile president Obama's -- to pay a visit to Capitol Hill for the second day in a -- today as he meets for the lawmakers.
Amid budget talks the president will meet with house Republicans filing yesterday sit down with senate Democrats.
And that meeting comes just today after the GOP released its budget which the president has criticized.
He says it would turn Medicare into a voucher like program and cut deeply into programs like Medicaid.
While increasing tax payments by the middle class in order to achieve promised lower tax rates.
Democratic Senate Budget Committee chairwoman Patty Murray is set to present her budget this afternoon.
-- -- to get several pieces of economic data before the bell this morning including a look at retail sales for February.
Economists expels expects sales to of increased half a percent from January.
Both with and -- out the auto component factored in there without the I -- also expected to rise.
By half a percent -- -- import and export prices for February import prices are expected to climb by half a percent -- would be down slightly.
From January's meeting a reading that is meanwhile -- -- prices are expected to show a gain.
A point 3% and that -- and change from the prior month.
All of these numbers come our way at 8:30 AM eastern we'll have them for you as soon as they cross.
The Federal Aviation Administration has approved Boeing's plan to redesign the batteries on at 787 dreamliner setting the stage for the start of test flights.
The measures include changes to prevent short circuits which can lead to overheating and fires.
The FAA's move is -- significant step in Boeing's efforts to return its flagship plane to commercial service.
Regulators grounded at 787 nearly two months ago.
After two batteries had issues one overheated the other cause a -- out battery fire.
The FAA didn't say -- test flights would begin that industry and government officials say if all goes well commercial flights could resume by early may.
Here's a look at commodities now oil involved.
I've been up this morning you can see corn wheat cattle all of this well -- them down slightly.
Coming at this hour Imus is guests will be New York Times best selling author Deirdre Imus and Fox News legal analyst least we'll.
Now here's the IMM live on Fox Business giving you the power to prosper.
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