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Morning everyone let's start things up with a live look at the markets and -- from the last fed meeting suggesting the Central Bank.
Could start scaling back bond buying next month have kicked off.
A domino effect after sell off in the US yesterday markets in Asia closed lower as well.
Chinese manufacturing also contracted for the first time in seven months the Nikkei was up as much as 2% at one point but it plunged more than 7%.
By the end of the session that's the largest one day fall in two years now in Europe -- there are following the downward trend PMI manufacturing in the eurozone.
Came in better than expected but still indicates contraction he got all three markets -- down.
Triple digits here in the US but I'm looking much better Dow futures are down almost 150 points yes if he's down but that's playing the NASDAQ down 35.
And look it yesterday initial comments from Fed Chairman Ben Bernanke sent stocks higher.
But the markets reversed course as Bernanke -- those comments about continuing stimulus measures.
By saying that the Fed could decide to pull back on its easy money efforts in the coming months the sell off continued then in the afternoon after the Fed released its minutes.
But let's check on how those markets -- moving out Kathleen Brooks research director at Forex dot com or -- and Kathleen.
Between a Bernanke comments the Fed minutes and the Chinese manufacturing slump it seems like a little bit of a perfect storm.
I have to -- preeminent -- a lot of risk imagine getting on you -- any kind of self belief that we came out of investors ready to reevaluate things that feels like we're at one of these two -- points in the market web site.
-- it didn't -- -- violently is finishing an embassy in a market across a doctor that back today -- that should be what the end of QB looks like.
I think is a little bit of an overreaction I mean stimulus passed and at some point it seems it'll only be scaled back not eliminated -- either way -- only comes.
If economic data is good so isn't this good news that we don't need this help anymore if that's what comes to being.
I think yeah you'll you'll compete right and it alluded to click on the economic they cannot make things like today's initial jobless claims about the US very very important that we could see it and we tequila that -- you know the market have been.
-- happy how my military pilot but I think what -- don't say that the market now I take its liquid -- to take its liquidity.
You do not like it even if they get suggest that they may have -- in the -- -- that it still real wind consent.
So if we get positive numbers out of this jobless claims report and other.
Is that can be viewed as a positive or negative to investors because it means more of a chance -- stimulus is gonna get scaled back even if the numbers coming good.
I did not match I think you make good point because guys going to be very difficult to read I think that we could see how they need it I think it really setting.
Be much better right now for the Abdullah that is potentially -- you -- -- located.
Even -- -- -- US -- market will leave Ohio but a US economic hatred while.
People will stop and think it's actually could -- filthy hides it seemed like maybe the polite that a lot of people within the can pull it potentially happening now.
Right that's Kathleen Brooks from Forex dot com Kathleen thanks so much for being -- we appreciated as always.
-- -- he had today's economic data works into the markets as well 345000.
People expected to have filed.
For initial jobless claims -- last week -- -- -- -- talking about how we will be watching this report.
-- that would be down from the 360000.
That filed in the prior week but as usual have to see if that number is revised that comes our way at 8:30 AM eastern time.
At 9 AM we'll get the federal housing finance agencies housing price index for march.
Home prices -- point 7% in February and point 6% in March so we'll see if that trend continues.
And at 10 o'clock we'll get existing home sales for April economists are forecasting.
Up from 4171000.
In the prior month Imus in the morning continues right now on Fox Business.
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