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This is the finals of -- morning program on the Fox Business Network and -- -- here as well let's start things off with a live look at the markets in Asia they followed the US session and closed lower today Japan's shares led those losses.
After cabinet -- shot down media reports earlier this week that the government was considering.
A cut in corporate taxes Seth Green markets were closed for a holiday Nikkei -- -- in Shanghai were all down.
In Europe stocks there are a little lower snapping a five day winning streak due to disappointing.
Earnings reports the UK retail sales rose one point 1% in July topping estimates you've got London down -- eight.
Paris is down about eleven and -- down 31.
Here in the US for watching futures for you as usual red arrows there as well Dow futures are down eighteen.
The S&P down to the nasdaq's down eleven stocks as -- mentioned -- fall in the last session on concerns about the timing and pace.
Of potential reductions in the Federal Reserve's bond purchases the Dow -- -- triple digits on the back of a sell off.
In shares of Home Depot Johnson Johnson and Boeing.
Shares of Cisco Simpson Cisco Systems that is also tumbled.
More than 9% in extended trading after the networking giant announced it would cut 4000 jobs.
Or 5% of its workforce and it provided a weaker than expected revenue forecast for the current quarter.
Cisco says the job cuts are needed to reduce costs due to what CEO John Chambers called.
A challenging and inconsistent global economy Cisco also reported an adjusted fourth quarter profit.
A 52 cents a share a penny above the testament.
Revenue rose 6% from last year to twelve point 42 billion dollars in line with expectations.
Cisco's performance is widely regarded as a Bellwether.
For the tech industry.
And it'll be a very busy morning on the economic front we'll get reports and 8:30 eastern time on initial jobless claims those are expected to rise slightly.
It would be up 2000 from the prior week we'll also get another look.
At whether there's any inflation yesterday we got producer prices State's consumer prices July CPI.
Is expected to rise by two tenths of a percent -- down from the five tenths of a percent rise reported in June.
When you factor out food and energy the core numbers also expected -- -- At a -- to two tenths of a percent that would be the same as Jane's report and we'll also get a look at manufacturing.
In the New York region with this month empire manufacturing index.
That is forecast to rise to reading of ten from last month nine point 46.
And at 9:15 eastern we'll get to light industrial production report that's expected to rise by three tenths of a percent matching June's output.
Here's a live look at commodities now -- my -- -- this morning he got oil currently up about seventy cents trading around.
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