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tv   FBN AM  FOX Business  July 6, 2015 5:00am-6:01am EDT

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sandra: breaking news this morning. investors bracing for a typical day of trading after great voters say no to austerity measures. taking a look at u.s. stock futures we been down over 200 points earlier for the ballot listing that is actually reversed. dow futures down 160 points. nasdaq and the s&p is well looking to the downside. we have a while ago until u.s. markets open. european stocks opening 2%. sec right now pull back with the cac and the text down in germany. the market to watch when it comes to europe and the effects
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of a greek accent. after the controversial greek finance minister announcing his resignation raising hopes for a new deal with european creditors. a live report for live report from athens post-market analysis from london. stocks jump over 2% in china as the government prison reform to try and stop the flight in the market. a live report from beijing. good morning. i'm cheryl casone in for sandra smith who will be in an hour from now joined by lauren simonetti and nicole petallides. good morning to both of you and welcome to "fbn:am" come your first look at what is moving in today's markets. the latest breaking is and what to expect for your trading day ahead. the people of greece have spoken raising more questions about the country's features and that is the european union. voters rejected an creditor demands for more austerity in exchange for another payload of its bankrupt economy. 61% voting no compared with 39%
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for yes. despite the overwhelming rejection the referendum does not compel creditors to change the terms of what they've been offering to athens. greek finance minister announces the resignation of the vote saying the move might help the government reaching the remote with his creditors. so what is next for the country of greece. all life on this country. ashley webster joining us with the latest details. good morning to you, ashley. "fbn:am" good morning to you, cheryl. e.u. leaders will not be sorry to see the back of the greek finance minister after he accused them of terrorism and blackmail. the question is can risk a big deal after an overwhelming middle vote. that's the most pressing question at this area. let me get out of the way here. we are in front of the e.u. bank in central athens that has been
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busy all day. long lines. the bank has been bringing up bottles of water for people but very slow process. no doubt the banks are literally hours by some accounts from running out of money. people very worried about their money. trying to get atm cards for saving accounts because the banks collapsed their savings will go down with them. obviously a lot of concern, but still very orderly. some younger people being allowed into the bank. not just the pensioners. the bank will close at 2:30 p.m. and that is it. the question is will the ecb answer the call for a lifeline and chris in emergency funding for the banks. that is to be decided. supposed to be mid-90s in athens today, cheryl. the heat is really being felt in brussels, berlin and frankfurt. we'll see what the e.u. mix of the vote.
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not any easier as they wait to see what the future holds. cheryl: one of the things we've been reading about in this country is a lot of goods and services, particularly food goods are having troubles getting into greece. the markets are running dry because no one wants to solve the great vendors. have you seen any evidence over the weekend? reporter: we do see a lot of those waiting offshore because as you say the vendors do not trust the greek government and the importers can't get access to money. we have not seen them online for supermarkets were long lines at gas stations. we have seen a shortage of medicine but the most immediate threat right now is the lack of cash and the atms are running out fast. cheryl: ashley webster live in athens. we will see throughout the day as they follow this historic moment. let's get you caught up on global markets.
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asia stocks starting the week they are substantially lower and of course in europe right now, that is really the market situation to watch as we look at the ftse from the cac and dax. a close eye on the dax in germany that the most exposure to greece. basically we're down over 200 points earlier in the morning but we've come back a little bit right now pointing to a lower open but not as lower open but not as bad as we thought they would have. boring making a great point before we begin the show today. take a look at the fall incurred a drop of more than 4%. the great turmoil will slow growth and demand for oil. gold, the safe haven moving higher. people look for a safer place to go. it has changed as we see now down 30 cents. we were higher and pulled a few moments ago. a lot going on in these markets.
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joining us now for reaction the spring and peter dixon, he joins us by phone from london. good morning to you, sir. your initial reaction to the referendum vote in greece. reporter: good morning. i was obviously they are surprised along with most european analysis. without the greeks would vote in favor because it is the lesser of two evils. obviously from the calculation right out of the window. we are waiting on views from the ecb in brussels to see how it will pan out. all we can say with any degree of certainty is the probability of credit has risen but we don't know how big it is. nicole: jpmorgan noting that his fluid. more likely than not. if we start seeing haircuts on the great banks where the actual depositors of 8000 euro or more start seeing not, what kind of
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contagion are we concerned about because greece is isolated, but how does it affect the entire euro zone. that is what people really care about. reporter: i generally take the view that the contagion is more limited than they were and effectively been because back then they were heavily connected in the global financial system which was heavily leveraged. we have a lot of time even though we don't have that happen. the last three or four years, banks have reduced exposure to greece. there will undoubtedly be in effect if that were to happen. but it will be a relatively short-lived effect and i still don't think that the long-term impact of credit on the rest of the world will be significant. having said that of course for greece itself it could be a catastrophic outcome. lauren: peter, lauren simonetti
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do you think terms of the more favorable from the other creditors in europe? >> in some ways i get it will be an obstacle, but sacked the government at south, mr. tsipras put in place in the use of the referendum and the greeks have given their verdict on that. i don't think it will really change things materially. ultimately this situation stands as it was last week. the creditors don't want to get into the greeks writes. cheryl: pieter dixon, thank you for the commentary. allies and european markets in greece. we appreciate your time in the world is watching greece. lauren has been watching that side of the story. lauren: it is unbelievable. we are watching finance ministers seek out as well. before all of this started, they
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were scheduled to reopen tomorrow. obviously that is cast into question. former secretary larry summers predicts great things will run out of cash early in the week, probably monday which is today. there'll be an immediate need to provide them with an iou script to meet demands for funds. that raises question about how greeks will get aid and how their health, power and transportation systems will work if there's no lifeline to the great banks. then you have the chief economic adviser mohammed ali are raw and warning that getting worked. shortages of goods including fuel and food well and testify. the economy will take a worrisome step down in the government will struggle to pay pensioners in the salaries of civil service. greek finance minister alexis tsipras thinks the vote will get them a better deal. he said we will go forward with the faith of our people in
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matters in which democracy and justice on our side. germany is the big question. still no word from the german chancellor, angela merkel. deputy chancellor says it's difficult to imagine. that's what he said to a newspaper. they are leading this path of bitter abandonment. cheryl: i love your l-lima diguiseppe thinks is said he thinks is going to get a better deal. lauren: but now at the finance minister ralph, maybe he will. nicole: we are hearing france might be open to this. they may be open to some sort of renegotiation of some sort. they are basically trying to pay off the debt in small increments for longer periods of time. they have a new finance minister they are considering they may be favored as chief negotiator, that he may be stepping in the next 24 hours. watch for that as well.
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he talks about poverty, unemployment and those things will get worse before they get better. cheryl: i'm so worried about the people of greece. this will be a rough week for all of them. greece is obviously front and center for u.s. investors. their other fact is says about. nicole, you are looking at the markets. nicole: there is so much to watch this week. we have the greece story front and center. features lower across the board. all of this following that no vote in greece. your son leaders are meeting tomorrow to decide what to do and how to move forward with that. we've also bought shares of humana in a minute today. looking to the upside in a big way and are heavily traded in premarket because not announced friday, humana, the smaller rival announced a $35 billion deal.
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we've been talking about the potential tire. it's actually happening. a little bit lower, not as heavily traded. the merger would be the largest amount the insurers. the government business include medicare, medicaid and that's the biggest part of the company totaling 59% of the revenue of $115 billion this year. investors will pay attention to quarterly earnings this weekend. earnings seasons will kick with the aluminum maker unwinds day. thursday again i am walgreens and texaco as well. a busy week shaping up ahead. right here at home in addition to everything going on in the eurozone. cheryl: so much to watch as well as what is happening in europe. one market this morning is china's shanghai composite after beijing instituted a series of support measures for markets by the end of last week had fallen 30% in a june high.
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they closed at 2.4%. fund managers with massive amounts of stock. also a halt in your share sales with dozens of firms scraping their plans. the shanghai composite 80% just in the past year. here's a look at the other headlines besides the great crisis on today's edition of "the wall street journal." kerry says difficult issues to be resolved for an iran deal. key elements of a landmark nuclear agreement between iran and six world powers falling into place. the u.s. secretary of state warns there's sticking points. we will be watching closely. the next one regulator's pro-marketing tech shares. they have launched a broad investigation into whether hedge funds and investigators are properly selling private technology stocks. philip morris seeks 1 billion from indonesia estate sales. they plan to celebrate billion dollars worth of shares and his
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indonesian operation in the years bigger share sales happening in southeast asia. senator headlines on "the wall street journal." tremendous force the u.s. sitting atop the soccer world this morning. team u.s.a. defeated japan in a five to two rout of benching the 2011 world cup defeat. heck of a display of offense. the u.s. scored four goals on the first 16 minutes they basically broke twitter. two of them in the first six minutes including the class. she awarded the golden ball. the first countries to win the women's world cup three times over. amazing evening. coming up the controversial greek finance minister resigning as greece tries to restart negotiations with european creditors. lab reports are not things as well as market analysis on what investors can expect.
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dow futures have been down over 200 points throughout the night. as you see repaired back losses. three hours 15 minutes ago until u.s. markets open and it could be a wild ride. you can see where that see where the connect and lowbrow pin. you are watching "fbn:am," your first look at morning markets and breaking news. ♪
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train to breaking news this
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morning. investors brace for a difficult day of trading after voters say no to a sturdy measures european creditors. taken out of u.s. stock futures down over two-point -- 200 points on the dow jones industrial. coming back a little bit. anything can happen and of course there's nicole knows well during u.s. futures. european stocks 2% as you can see european markets also paring back. if god is moving and it's moving quickly. stock prices carry losses after the controversial greek finance minister announced his resignation raising hopes for a new deal with european creditors. a live report from athens plus market analysis from london. 2% in china after the government put in reform to stop the stocks. a live report from beijing. good morning i am cheryl casone &-ampersanda smith. she will be here in less than an
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hour. joined by lauren simonetti and nicole petallides. welcome to "fbn:am" coming to a first look at what is moving in today's markets. the latest breaking is in what to expect for the entire day ahead. the people of greece has spoken raising more questions about the country's future. voters rejecting creditors demands for more posterity in exchange for another bailout. voting no compared with 39% for a yes vote. despite the overwhelming rejection it does not compel greece to change the terms of what they've been offering athens. greek finance minister yanis varoufakis announced his resignation following the boasting the move might help the government reached an agreement with creditors. so what is next with a small country of greece. ashley webster with the latest details. reporter: good morning to you, cheryl. the next 48 hours will prove absolutely decisive not only for
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the future reason the eurozone for the eurozone itself. a difficult situation for german chance lawyer angela merkel as she tries to sell whatever plan they come down to her own party in the german parliament in german parliament is indeed the german taxpayers. germany has the biggest exposure to greece and 29 billion euros. if indeed there's some restructuring of greece, that would mean either a haircut and some loans are just a forgiveness of loans and that is not going to fly with the germans. in the meantime the biggest crisis right now are the banks. that is why you see this being repeated all over the city of athens. long lines, people asking bank managers to get in and get their money with the voucher reading ticket. some getting end, some are not. atms are spewing out money as fast as people get their hands on it but the banks are running
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out of money. without any help with the ecb, or the imf, a matter of time before the financial system collapses. cheryl: ashley webster life in athens. global head of financial market research of provo bank joins us on the phone from london. jim, good morning to you. what are you saying the midst of the reaction of the finance minister agrees that markets are paring losses. does this mean europeans come back to the table? do investors believe we now play ball between europe and greece? reporter: good morning. last week we are decided negative reaction in the markets. people believe the ecb will help control some of the contagion and also a lot of investors looking to get into europe and see it as a biting moments, an opportunity to get in at this time. for what we think in the
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upcoming days as the creditors will take a laid-back approach, instead outcome of the pressure built on greece and hopefully greece would give enough openings a deal can still be made. lauren: at jan, lauren simonetti, you say it started than priced into the market? >> last week we saw it reaction as well. people believe they are still talking and i also believe this could be maintained. a little bit of wishful thinking that they are still talking. it will be scary because the ecb is in no position to provide extra liquidity. that means the next meetings are tomorrow taking a little bit of a follow-up roach to let the pressure built on greece. one result is then and they are asking for regime change. the creditors will need more rest they cannot persuade constituents. cheryl: there you go. especially germans. jan, thank you very much.
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markets in asia will run the great crisis. china announced in the market changes to halt the flood in china stocks. a closer look at a chevron markets at business reporter tracey chang. tracey is a reporter for chinese state television. good morning. reporter: good morning, cheryl. greece's resounding austerity measures were seen here with the exception of made in china markets. the chi composited after the government announced a stabilized support with the index remained volatile throughout the day and ended higher by 2.4%. in hong kong market tanked on greece worries of course the hang seng ended down more than 3%. moving to tokyo, japanese shares down. the nikkei down about 2%. we saw the yen moved lower and a further downside. and south korea the cost be so
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that the index down about 2.4%. back to you, cheryl. cheryl: thank you very much. tracey chang live in beijing. a look at your monday forecast with maria molina. reporter: good morning, cheryl. we are tracking federal areas of weather across the nation today and what areas has been the great lakes. a storm system out there moving eastward ahead as warm temperatures and they are firing up since arms in the potential that some of the storms could produce severe weather. large hail, damaging winds and flash flooding a concern. more storms forecast off the gold coast and also further east across parts of the mid-atlantic. the storm will have used them as we head into tomorrow's my fluid whether possible across across parts of the midwest and the interior northeast. we see several inches of rain fell across parts of kansas and
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missouri. six inches locally will be possible so that brings concerns for flash flooding and across the eastern u.s. 80s and 90s widespread. much hotter as we have further west. temperatures in the triple digits and 90s as far north as the city of seattle. cheryl: maria, thank you very much. the controversial finance minister of greece resigns saying he was unwelcome at the greek debt negotiations. checking u.s. stock index futures paring back a little bit more. we were down more than 200 points and the dow of 132 points. this is progress. you are watching "fbn:am," your first look at morning market and breaking news. ♪
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cheryl: lipsky caught up on global markets. a lot changed in the last 15 minutes. that's why you can't watch the program. european markets down to european markets have pared back their losses when they first opened there is a big selloff. take a look at what is happening this side of the pond. the dow futures indicating a low
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open loss of 133 points. a lot better than the 200-point loss we had overnight. a lot is changing right now. nicole, bring in somebody know very well that has big eyes to greece. nicole: a very special guest this morning. you may know him of course as he ran for mayor here in new york. also the owner is ceo of the red capital group and graffiti groups. a huge anti-dq in new york. self-made early america my family came from greece. good morning to thank you for getting up early and joining us this morning. >> good morning. thank you for having me. i think the problem we have is the great people are looking for somebody with credibility to greek and also the leadership ability to carry the greek people for word. and we have a problem. cheryl: do you think tsipras should've stepped down as well a
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varoufakis? >> i would say it's very hard for him to step down. the truth is you need somebody with credibility and the current party has a deal to be made. the europeans will sit down with anybody other than the people right now. the amount to that -- as bad as creating trillions of dollars in bad credibility, something that is hard to recover from. cheryl: that is exactly it. we read a letter from steve forbes to tsipras back in march where he talked about ideas for
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greece in ways including labor laws were hiring and firing rid of them are easy. don't do the things that have bid in a tent to go into the bank accounts and talk about a billion. they basically take people's money right out of the bags. when you think of steve forbes ideas. >> taking the money out of the bank i think is wrong. they threatened to take the safe deposit box and take any amount of money in the safe deposit box. what they are trying to do, the europeans are trying to undermine the greeks and create other problems among great people. cheryl: we're almost out of time. quickly, you are a huge business man right here in the united days. quickly, what with the thing that concerns you most for investors in the state? >> we have created a credibility
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that has to happen somewhere outside of greek. cheryl: john catsimatidis, thank you for joining us. coming up, greek voters waking up too uncharted territory. did they vote to lift the euro zone or get better terms than a deck chair with european voters. a live report from athens. stocks under pressure. live market analysis coming from london. dow futures down over 200 points. taking a look we have also pared back losses. you are watching "fbn:am," your first look at morning markets and breaking news. ♪
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cheryl: raking is this morning. investors bracing for a difficult day of trading after voters say no to a security measures from european
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creditors. u.s. stock futures down over 200 points on the dow. paring back things are getting better in the futures market in the country. take a look at european stocks trading. they opened 2%. paring back for the fact the controversial greek finance minister announced his resignation and not raised hopes for a new deal with european creditors. a live report from athens plus market analysis from london. stocks jumped 2% in china after the government puts in reform to stop the stocks there. live report from beijing. good morning everyone. i'm cheryl casone &-ampersand or smith. she will be here 24 minutes from now. for now with god lauren simonetti and nicole petallides fund set. welcome to "fbn:am," your first look at what is living in today's market and what to expect for your entire day ahead. the people of greece has spoken raising more questions about the country's future and that of the
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european union. voters rejecting demands for more austerity in exchange for another bailout of bankrupt economy. 61% voted no compared with her demand% yes. despite the overwhelming rejection of referendum is not held to change the terms of what they've been offering out to. in a surprise move greek finance minister yanis varoufakis announced his resignation following to resignation following the boasting a move might help the government reached an agreement with its creditors. so what is next? ashley webster joins us from athens with details. good morning. reporter: good morning. reality is definitely setting in. when they get out of the way here. it's been pretty much all morning and now into the early afternoon outside the eurozone. we see the same story play out all across the city and i'm sure
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all across the country people very nervous about whether they can get access to their money. numerous reports banks are running out of cash and without help from the european central bank it could be a number of hours before they are literally out. some people wanted to try and get atm cards for savings account. they are nervous that banks indeed do collapse in the money goes with them. a lot of decisions made on the part of not only the ecb but then also at e.u. leaders themselves. angela merkel, the german chance or in paris today in an emergency crisis tomorrow with all the leaders coming together prior to that meeting. a lot of questions to be answered. how much is the cost to keep greece in the euro zone? can the rest of the 18 countries in the eurozone willing to cough up the money, are they willing to take care cuts on their loans or forget their loans is the
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question is certainly greece, a country on the edge in more ways than one. cheryl, back to you. cheryl: those banks are not funded and they've run out of cash. great point. thank you very much. the world is watching greece. lauren following that side of the story. nicole: a country with .3% of the global economy is having this much impact. greek banks originally expected to open tomorrow but obviously it's cast in the question. the treasury secretary larry summers predicting greece will run out of cash early in the week. probably today an immediate need to provide them with some sort of ious great to meet demand for funds and that raises questions about how the greeks will get paid and other transportation systems work there's no were if there's no wi-fi and get into the greek banks. we are watching all the key meetings. then the chief economic adviser
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warning of heart conditions getting even worse. this is a quote he says. as sorting increases, shortages of goods including fuel and food will intensify. the economy will take another worrisome step down in the government will struggle to pay pensioners and salaries of civil service. yet the great prime minister dagen they selected him a better deal with its creditors. he says we will go forward with the faith of our people and our and democracy on our side. still waiting to hear from germany. a leader between angela merkel and the french presidential leader. we will watch. the big powerhouse in europe. you are laughing because he thinks he's going to get a better deal. he might. nicole: france seems to be somewhat interested. we will see if we get anything
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from angela merkel and get the debt payment spread out over a longer period of time. cheryl: we've got a bunch of other stuff to keep our eye on today. nicole: taking a vote, obviously greece front and center for u.s. investors. others will fact her into the opening bell this morning as well. oil near three-month lows. again it is worth noting that dow futures recount over 200 now down 129. do your zone leaders plan to meet tuesday tomorrow to decide what exactly to do. we have the big story in health care and that is humana down 15 bucks this morning. aetna announcing it will buy its rival including the debt of 37 billion. aetna looking down to bugs in humana $15. heavily traded there. this is the largest such deal in the government business including medicare and medicaid will be the biggest car.
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they are rallying to try and make this deal. the snow totals 55% projected revenue of $115 billion this year. investors pay attention of quarterly surveys. wednesday will watch for walgreens and pepsico. thursday had a date article over the weekend about his upside potential. over the next couple of years and utilities verify. >> a lot going on with regards to burnings. the pictures and breaking news. i want to take you to brooklyn heights, ohio. you are looking at live pictures from there. a huge fire that broke out at a warehouse. at least 10 departments are fighting this fire in the area. not under control. the fire is unknown at the time. we just lost our shot of five pictures coming out of ohio.
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we will keep our eyes on this entrance figure out what's going on there and what caused this massive blaze. also looking at headlines in the u.s. this is today's edition of what "the wall street journal" is looking like. john kerry says difficult issues to be resolved for an iran deal. key element of the landmark nuclear agreement between iran and its world powers falling into place. warning there are important sticking points that may scuttle the deal. regulators pro-market of how private tech shares. regulators have launched a broad investigation into whether hedge fund and investors are improperly selling how private stocks. philip morris seeks 1 billion from an tenacious sale. the company plans to sell a billion dollars worth of shares in its indonesian operations and that would be one of the biggest share sales in southeast asia. as their "wall street journal"
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headlines. right here in "fbn:am," the greek finance minister resigns saying he was not welcome at meetings of the debt crisis. i don't think he was. traders getting fed up for a wild day after the surprise vote in greece could mean a greek exit from the european union. market analysis on what to expect today from a trader in london. take a look at this incredible report. this is incredible on this monday. we now have a dow jones industrial average forney to 118 points. you can miss a moment. you are watching "fbn:am," your first look at morning markets and ricci news. ♪
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cheryl: we want to get you caught up on global markets. take a look at what happened in europe and it's happening right now. they opened up substantially lower, more than 2%. look at what is happening in this country. u.s. stock market futures paring back losses substantially. taking down .5 points as the show goes into the 6:00 a.m. eastern time. joining us now for reaction, michael use and market analyst is joining us now by phone from london. what a mixed reaction we should say. coming back here and there looks to me like you are not that worried over these negotiations. are you ready for a deal? >> coping and ready are two different questions. this reaction reminds me of what happened last wednesday. i think there was a surprise that we got a no vote. the market did miscalculate the
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feeling with inquiries about the austerity measures implemented over the last five years. but we've seen this morning i say more can do a tory talent from e.u. leaders and players with respect to new proposals from greece. we've also seen the greek finance minister and the hope is there give them a stake to the relationship he had with the creditors, maybe we could get a more conciliatory flavor to any talks that may start in the course of the next couple days. bull markets are fairly relaxed about it. yet we've seen significant declines in spanish and italian but certainly not the same extent we saw last week. and the euros bounced off from last week as well.
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lauren: lauren simonetti here. what is the likelihood of the situation in your opinion? >> at the moment it's about the d50. we are waiting on the ecb decision of emergency the quiddity. i don't think they will pull that back until such times as e.u. leaders meet later tonight and tomorrow with respect to the referendum vote. cheryl: michael, thank you for the commentary. we appreciate that life out of london. the u.s. sits atop the soccer world this morning. team u.s.a. defeating japan avenging the 2011 world cup defeat. the u.s. scored four goals in eight games. >> unbelievable. she's amazing. carly lloyd scored three of these goals, two in the first six minutes.
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the blast from midfield. the u.s. is the first country to win the women's world cup three times over. this means ladies forces back. lauren: i think so. i think people get tired of zero, zero. you get a nice big score. cheryl: before you head out the door, and the future forecasts. good morning. not good at soccer at all. an amazing job of winning the world cup if they want to talk about this storm system headed eastward. they will be firing up storms and you can look at the threat today. although went to the great lakes. the main concerns are damaging winds with the storms have large hail. an isolated threat specifically from parts of bio up into wisconsin off the northwestern part of illinois.
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you can see we also have heavy rain right now. flash flood watches issued out there. we are expecting this much is six inches of rain from missouri into kansas. a look ear temperatures across the nation. parts of texas temperatures in the 90s. cheryl, over to you. cheryl: maria molina, thank you. a check of global markets as they set up for about day of trading and handed over to senator smith and four maria bartiromo this morning. ♪
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train to a final look at what is happening with global markets. as you can see european markets down. you've only got the cac down less than a percent.
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the man at 33%. look at the dax. we want to keep an eye in germany. the most exposure obviously to the greek situation. dow futures down 110 points. they may have not so much of a painful opening as we thought we we would have. cassandra smith and then for maria bartiromo. i will turn it over to you. sandra: great hour. i've got everything i need to know. let's build on it. good morning everyone i am sandra smith and for maria arter brummel on this breaking this morning. investors with their first chance to react to resounding no vote on the bailout package offered by the e.u. and creditors. the result widens the gap between athens and european creditors. possibly setting up for an exit from the eurozone. german chance of angela merkel in france right now is to look forward for a rate increase.
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the meeting comes ahead of an emergency summit of european leaders tomorrow. leaders say for grace to offer proposals that enable the country to stay the country tuesday and the métis nation eurozone. the european newspapers showing how the media is being over there. the bold headline, europe shudders. "the guardian" headline reading greek voters defy europe. european stocks suffering on the new losses for the ftse, cac and dax. still down nearly 4%. features in the u.s. showing stocks are dagen: loss on the open on wall street this morning. a triple digit loss. we should note we are seeing u.s. markets while outflows of the overnight trading session. a rough day in asia with many averages they are trading in the red. we did see chinese stocks rebound after 25 of the major
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mutual funds promise to boost equity assets under management i inject their firms on capital into the funds. 28 companies agreed to withdraw their initial public offerings. offering stability the market. with me for the hour, joe wang cad. and anthony chan at chase. a busy morning. back to the breaking news. the greek people voting no to european obscurity and possibly taking the first step to exiting the eurozone. ashley webster is live on the ground in athens with the very latest. reporter: yes, good morning to you. the next 48 hours are absolutely critical not only for the future of greece. potentially the future of the eurozone. the message of know has been sent very strongly to brussels that the question is now what happens. the head of the eurozone

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