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U.S. Morning Call: Spain ready for bailout, Germany's not

Tuesday, October 02, 2012 - 03:37

Oct 2 - Reuters Exclusive: Spain is ready to request a euro zone bailout for its public finances as soon as next weekend, but Germany has signaled that it should hold off.

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Spain is ready but Germany's not and -- -- has passed Microsoft here's your morning call for Tuesday. Another twist in the bail out tail European officials exclusively told Reuters that Spain seems all set to ask for aid as soon as next weekend. But the big boss Germany has signaled it should hold off. It senior German source said Chancellor Angela Merkel wants to avoid putting more bailouts for distressed EU countries. To -- increasingly reluctant parliament. Which does not come as a surprise. Aura about activities and need -- approval by all the European countries and indicates the chairman you need the apple from the Bundestag. And we shoot you know keeping mind that that -- -- and -- in Germany. And -- it's quite such difficulties to agree to to come within two days before the wind is tied. With a new bailout request suspicion yet they're do you know rhetoric yet I've got for Christmas Spanish banks so right for us quite close to two to that plan. European markets sifting through the news investors on edge awaiting a possible Spanish rescue. Over in the US Dow lesson in NASDAQ futures off single bump. Markets also looking for US auto sales figures considered an indicator of consumer spending and health of US manufacturing. Analysts expect annual sales rate of around fourteen point five million for September. That would mark the fourth straight month the rate has held fourteen million. Pent up demand and attractive credit terms helping auto makers. Is sector where some consider overvalued to be the name of the game. Tech titan Google has become the third most valuable public company surpassing Microsoft yesterday as being struggles to compete in the search engine arena. Google has also dominate companies like FaceBook and Yahoo! an online advertising. It is a major player in the mobile market alongside that other tech company you might have heard of apple. Google stock up slightly in the premarket apple also seeing a slight bump this morning. Shares of Microsoft those stagnating over the past decade as the company fights to keep up. JPMorgan's Jamie Dimon just can't seem to catch a break this year. The many say all streets on his -- supper at six billion dollar trading loss a few months ago. And have got a new lawsuit on its hands. New York's attorney general filed a civil case against JPMorgan over mortgage backed securities packaged and sold by Bear Stearns. JPMorgan which bought Bear Stearns for ten dollars a share in March 2008. Said it would fight the allegations. The case is the first to come out of a working group created by President Obama earlier this year to go after wrongdoing that led to the financial crisis. Federal authorities are also expected to -- a similar lawsuit against JPMorgan today. And source says other banks are next shares of JPMorgan trading close to forty dollars in the premarket. Stocks to watch Boeing employees struggling to find their wings its engineers rejected a contract opera late Monday. Setting the stage for talks to resume today over labor labor agreements covering 23000. Workers. And keep I -- shares of mosaic. The fertilizer company reporting 18% decline in quarterly profit on weak -- -- house. That is your morning call for Tuesday follow us on Twitter at Reuters Insider for the latest headlines and check out a -- YouTube channel. At Reuters dot com slash -- TV. I'm Lisa Bernhard fifth is writers.

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U.S. Morning Call: Spain ready for bailout, Germany's not

Tuesday, October 02, 2012 - 03:37