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Good morning we start off of the hour here with a -- business alert on the markets mostly lower.
-- and Asia the People's Bank of China making another move to curb inflation the deposit reserve ratio for most of the banks in China will be raised.
By half for percentage points actually meets at large financial institutions will have to keep funny and a half percent of their deposits in reserve.
Trying to really keep inflation in check over their most of the markets down as -- see.
-- -- still in China was up slightly in Europe the a major market averages they are or lower.
We're down by more than 1% as a matter of fact in Paris on the cac forty there.
And the other markets are down nearly that much here in the US stock index features here are lower ahead of the Wall Street opened 63 points to downside.
On Dow futures on -- some upbeat economic news helped send stocks higher but it wasn't enough to save the week the Dow snapped a three week.
Winning streak even with that Friday game.
Gasoline prices up another six cents over the past week according to triple -- the average price for regular gallon -- gasoline is now three dollars and 83 cents per gallon and now six states have average prices the top.
Four bucks a gallon.
We're also watching the price of -- this morning and oil has actually been moving lower below one on nine and down by more than dollar.
The FAA making changes to air traffic controller schedules to try to help keep the wake on the job they'll now be given an extra hour off between shifts in order to rest.
Transportation secretary Ray LaHood is telling where did tell Chris Wallace on FOX News Sunday.
It's their job to stay awake.
Controllers need to take personal responsibility.
For the very important safety jobs that they have.
We can make changes but when these controllers come to work.
They have to take personal responsibility for the fact that they are guiding planes in and out of airports -- it has to be done safely.
They have to be well rested and they have to be alert.
Lahood did -- out one recommendation that would help controller set to stay awake napping at work he said that quote controllers will not be paid.
To take naps.
Citigroup the largest bank can the latest bank to report its earnings and those will be coming out this morning analysts expecting earnings of nine cents per share on revenue of more than twenty billion dollars for -- both of those numbers.
Would be lower than last year's results came -- The Arab city could see some weakness in its -- -- -- -- be watching this one also may be hurt by weak demand for consumer loans that is coming -- little bit later this morning.
NASDAQ not quite -- up on a tip attempt to -- the New York Stock Exchange despite having its offer rejected by the NYSE board.
As -- -- meeting with the Department of Justice antitrust regulators this morning.
This according to the Fox Business network's Charlie Gasparino.
NASDAQ also prepared to offer sweeteners to its previous offer though it's.
Not likely to raise the amount of its -- -- we'll have more on this -- -- vegan in me at 11 AM eastern time we'll also be joined at that time by the former.
NYSE CEO Dick Grasso in several states recovered this morning from a series of deadly tornadoes that hit.
Over the weekend let's get the latest on that Fox Business weather center with them -- -- win -- one -- Hi good morning -- that's right basically from Thursday through Saturday we saw a three -- severe weather outbreak that could easily go down as the largest at our nation has seen in recorded history we have reports.
At at least 44 confirmed that's -- -- two of those coming out of North Carolina who got hit very.
Hard on Saturday.
We do have reports of over 240.
Tornadoes those are preliminary reports and most of those are slowly being confirmed we have reports at.
Some -- several to Mississippi on Friday with.
Winds -- a 140 miles per hour you can just take a look here.
Outer stormy ports extending from Oklahoma on eastward through North Carolina so extensive damage and unfortunately -- were watching the new storm.
That could produce more severe weather as we head to tomorrow all right Maria Maria.
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