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FBN’s Diane Macedo breaks down the stories moving the markets around the world.
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The farm -- Good morning everyone legislation tax -- bank deposits is expected to fail today.
Potentially pushing the country closer to a debt default and -- banking collapse the parliament there is set to vote on the matter today -- no single party has a majority and three parties have said.
They won't support the tax -- if the measure doesn't pass it means the country would fall short on conditions for thirteen billion dollar international bail out.
Hundreds of protesters rallied outside parliament yesterday honking horns and holding banners saying.
We are not your -- takes the Cyprus stock exchange has suspended trading for today and tomorrow while banks remain closed to avoid a run on them.
Fitch ratings has put a number of Cyprus banks on negative ratings watch as wells will be watching that situation very closely today.
Looking at the markets here in the US futures have been searching for direction this morning we have Dow futures down six.
The suvs up just a court and appoint the nasdaq's down about half of a point.
In Europe ahead of that parliamentary vote in Cyprus -- there have been in the red we've got London down almost 22 Paris is down almost 35 Frankfurt's down almost forty.
I think a closer look -- what's moving as European markets and Jane Foley senior currency strategist.
At rabobank over in London now Jane if -- can't meet the requirements for this bailout what would be impact be of the country's banking system.
Well this could be -- really kind of bad except of course are what they could do is get back to the EU announced for an increase on the the ten billion -- -- that he EU promising them but he was saying while.
That was -- because at this -- -- debt.
Level -- just -- fox you've not thought to.
Oh unmanageable -- -- not -- TV is the EU up pressuring Cyprus to find them find that five point eight digging -- it.
From the -- -- somewhere else and advance -- as possible that that they may get sent an extension on that the existing land from Russia.
Pathetically -- 2.5 billion uterus -- their business hopeful and it's it is getting them into dangerous territory.
And Jane what are the chances that they can find a way to pass this and if they don't is there any way to get this spell out any other avenue they can go down.
Well it could set -- -- that could pass it is if they were agreed not to put and -- attacked from the smaller deposit does it to people with deposits of less than.
100000 year and instead -- on the -- -- the conferences and that would mean that -- in debt tax.
Actually -- about 15% to -- I don't know there's lots of positives do you come from Russia.
The Russians that he wouldn't be.
One teen to agree to that same again this isn't an easy situation when he that the government in Cyprus.
Understandably so all right that's Jane Foley at rabobank thanks so much and and their earnings -- from DSW the footwear retailers reporting an adjusted profit of 69 cents a share falling short of the estimate.
For 72 cents.
Revenue was also -- -- 594.
Point three million dollars analysts were expecting 601.
Point eight million dollars.
Confederate service -- to kick off its latest two day policy meeting today in the Central Bank is expected to continue.
It's accelerated rate of bond purchases and keep interest rates at record lows still keep in -- minutes from the Fed's January -- meeting did reveal that many officials.
Are worried that the monetary policy setting the stage for inflation and over buying.
In some markets the federal release a statement on the meeting tomorrow afternoon.
And chairman Ben Bernanke will host a press conference as well we hear Fox Business will cover about.
Meanwhile Citigroup -- pay 730 million dollars to settle class action lawsuit filed by investors.
Who were allegedly misled by the company's disclosures.
The investors about -- debt and preferred stock between 2006 and 2008.
Say there were omissions and misstatements in Citigroup disclosures including claims that risky assets were of high credit quality.
-- denies the allegations but says it's settling to avoid litigation if approved by the court this settlement will end four years of litigation.
And Boeing is set to announce a major airplane order today Irish budget airline Ryan there.
Is expected to buy 170.
Boeing 737 and G jets in a deal worth fifteen billion dollars.
Boeing's commercial airplanes CEO ray Conner is expected to be in New York for that announcement.
And this comes as -- union representing 7500.
Boeing technical workers ratified a new four year agreement.
Removing the possibility of a strike that could have slowed production.
Here's a look at commodities now oil and gold like markets -- are searching for direction this morning -- oil up now.
By about nine cents gold to the downside but little more than two dollars and sixteen oath to announce.
Coming up this hour Imus his guests of the Fox News political analyst Juan Juan Williams and now here's the -- -- on Fox Business.
Giving you the power to prosper.
