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This is this Imus in the morning yeah.
On the Fox Business.
Good morning everyone the Federal Reserve will pick up its latest policy meeting this morning where the Central Bank is expected to maintain its stimulus efforts.
Officials have backed away from talk of ending the Fed's 85 billion dollar a month purchase of treasuries.
And mortgage backed securities after economic growth and inflation both rose slower than expected.
In the first quarter but they're also -- signs the Fed is considering expanding the program chairman Ben Bernanke and some of his colleagues point to the rising stock market.
And increased sales of homes and autos as evidence that the asset purchases are working.
Speaking of homes -- education the report.
For February prices this morning price as the twenty city index.
Are expected to show a gain of two tenths of a percent on a non seasonally adjusted basis.
Year -- year the index is expected to be up 9% they'll have those numbers for you as soon as they cross at 9 AM eastern.
Checking the markets ahead of that report here in US futures have been searching for direction this morning we've got Dow futures currently down for -- -- and he's done to the NASDAQ down one.
In Europe eurozone unemployment rose to a high of twelve point 1%.
Spain reported growth there fell by half a percent in the first quarter marking seven straight quarters.
A GDP contraction of bank of Spain also revised its GDP forecast.
For two point thirteen from down half percent to a contraction of one point 3%.
In German retail sales also declined for the second consecutive month stocks in Europe.
Are mostly lower London found nine Paris is down thirteen Frankfurt -- still on the green by about 45 points.
And we're getting earnings and from Pfizer now the drug makers.
Recording an adjusted profit of 54 cents a share.
-- -- -- -- by a penny revenue was also slight miss at thirteen point five billion dollars analysts were expecting fourteen billion.
-- morning European markets now let's go live to London where we're joined by Alastair McCain market analyst for IG.
Good morning out there we have a lot of Central Bank adds action scheduled for this week.
Are these market numbers any sort of an indicator for what investors are expecting.
Morning Diane yeah I think -- investors have very much showing through the equity markets.
That there are anticipating some fiscal stimulus.
Across the board from a number of different regions.
Not so not just necessarily the quantitative easing price -- savored America.
But I think that their -- -- hoping that says the UK my ticket and involved in this as well.
Along with rate cuts by the EC basic we certainly anticipating some actions in the in the coming weeks certainly.
And -- Italy's new prime minister and Rico Leno will travel to Berlin.
Today for talks -- German sensor Angela Merkel any expectations.
What might come of that meeting.
I think camera this initial meeting is probably just going to be.
Face to face opportunity.
The Italian political scene was set relatively murky before hands.
And -- I'm sure Angela Merkel will be -- her -- work.
On exactly who creates.
It's how we he has -- set himself I think certainly.
Hopefully -- meeting way Ira.
I know that he had -- -- opinions on the austerity measures being -- effectively forced upon not just the at times but -- broader range of European countries.
I'm sure he's going to be looking to see if we couldn't set.
May be see a little bit of and easing as far as the gym and stands is concerned on that.
But I think it's just an initial meeting and and -- -- really necessarily expecting anything more than corneal comments to come out of it an issue.
All right that's Alastair McKay get IG in London we appreciate it Alison thanks.
-- -- -- -- Likewise and -- Harrington now from Avon Products the -- and beauty products company is reporting an adjusted profit of 26 cents a share easily beating the estimate for fourteen cents.
Revenue came mid 2.5 billion dollars matching expectations -- on.
And we're getting earnings in from Legg Mason -- well yes and management firms reporting an adjusted 52 cents a share.
In profit blowing out the expected twenty cents revenue of 667.
Point eight million dollars also beat the expected 645.
Point seven million.
And best buy is exiting the European market the electronics retailer is selling its 50% stake.
In car phone warehouse group's European business back to that company for roughly 775.
Million dollars in cash.
Best bylaws the joint venture with the UK based mobile phone chain in 2008.
As it looked to expand into the region while US sales began to slow.
The company paid more than two billion dollars at that time to boost its stake in car phone warehouse from three to 50%.
As result of this move now to sell that stake best -- said it would take a non cash charge a 200 million dollars when it reports earnings late next month.
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