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Good morning everyone let's start things off the live look at the markets in Asia stocks there.
Are lower -- Egypt's unfolding political crisis pushed the price of oil to its highest level.
In more than a year adding to an uncertain global economic outlook traders.
Are also cautious ahead of Friday's report jobs report.
Here in the US -- -- red arrows across the board in Asia the -- and lots more.
Then 2% in Europe rising political tensions in the Middle East weak Chinese growth.
And every new debt worries in Europe itself are weighing on stocks there London's down almost 100 points Paris has -- little more than sixty.
Frankfurt's down 142.
Here in the US were also watching futures for you red arrows there as well Dow futures are down 87 yes and he's -- -- nasdaq's down 21.
And that comes after that turmoil in Egypt offset positive news about the US economy yesterday sending stocks down as well the Dow fell 42 points.
Investors will get a new round of labor related data this morning -- ahead of Friday's jobs report for June.
At 7:30 eastern time outplacement firm challenger gray and Christmas will release its planned layoffs report for June.
45 minutes later we'll get payroll processor ADP's report on private employment.
At 830 the government releases the initial jobless claims report one day earlier than usual because of the fourth of July holiday.
Economists expect 345000.
New claims to have been filed last week.
Plus -- the trade deficit number for May and finally the institute for supply management will put out its gauge of the service sector.
For -- we'll have all those reports for you.
As soon as they cross.
-- about administration meanwhile is delaying -- major provision in the health care overhaul law putting off requirement.
That many employers offer health insurance until 2015.
The Treasury Department announced late yesterday it's giving businesses an additional year to comply with law.
Which requires companies with fifty or more workers to offer health care coverage or face major finds.
Administration said the move is a response to complaints from business groups.
And in granting that time it's just trying to make these little it easier for them.
The employer health care insurance mandates and penalties -- -- to effect in 2015 and 72014.
The federal judges agreed to a deal allowing HSBC to pay one point nine billion dollars to settle charges.
The British bank allowed criminals to move hundreds of millions of dollars -- US financial institutions.
From the mid 1990s to 2006.
The one point nine billion dollar settlement has the largest ever US penalty against -- bank Justice Department accused Europe's largest bank of failing to monitor itself.
And allowing Mexican drug traffickers and countries under US sanctions including Iran and Libya to launder money.
HSBC knowledge compliance lapses but a spokesman says his 2011 the bank has taken extensive steps to help -- that in the future.
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