Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

U.S. Morning Call: IMF reiterates global growth concerns

Tuesday, October 09, 2012 - 03:05

Oct 9 - The IMF cut its growth forecasts for the second time since April and said Spain and Greece will miss deficit targets.

▲ Hide Transcript

View Transcript

First the World Bank now the I -- warning on sluggish global economic growth. And investing in the US to an end for another round of earnings here's your morning call for Tuesday. US stocks heading for a lower open today. Dow S&P and NASDAQ futures all of the -- this morning after the IMF warned of the worsening global economic slowdown. And growth forecast for the second time since April. The agency flagged the US fiscal cliff and the eurozone debt crisis as two top problems plaguing the global economy. I and that's warning getting some food for thought to German Chancellor Angela Merkel who just arrived in Athens today. Brady protests in the capital she's expected to deliver a message of support the Greek Prime Minister as he struggles to impose work cuts -- near bankrupt nation. Fighting to stay in Europe has gone. Let's take out some stocks on the move today all eyes on Alcoa -- figures up to report results after the bell. The aluminum maker like scrape by with -- quarterly profit. Sales of transport and aerospace products compensating for a fall in global metal prices. Moving on to young brands analysts expect profits to rise for the parent company at KFC and Pizza Hut. Also watch any news of slowing growth in China. An apple trading lower in premarket after shedding 2% of its value yesterday. Apple hurting after China labor watch that a Foxconn plant in China and it makes Apple's iPhone with crippled by strike. Foxconn still denies the news. Netflix on a rollercoaster ride this morning the stock down three dollars after Bank of America cut the company to under perform. According to -- in the dot com. This comes a day after Morgan Stanley upgraded the stock to overweight. And Scott -- -- -- rival Amazon has no intention of spending enough money to develop a streaming service as comprehensive as Netflix. But that's where he may be wrong. -- report out overnight shows Amazon's recent deal with ethics. Includes a generous paper performance provision that had not been previously disclosed. Providing the strongest evidence yet that Amazon is willing to spend cash you player in this market. Raking in banking this morning Swiss private bank Julius -- to cut roughly 1000 jobs in an effort to slash costs. Following its purchase of Bank of America Merrill Lynch is international wealth management unit in August. The layoffs will eliminate about fifteen to 18% of bears combines staff. And -- beeping up its retail division adding one point five million ING customers by taking over the banks savings and loan businesses in the UK. The deal is the first for new CEO Anthony Jenkins as he attempts to lead Barclays toward retail. And riskier investment banking -- -- That's your boarding call for today follow us on Twitter at Reuters Insider for the latest headlines and check out our orders YouTube channel at Reuters dot com slash writers TV. I'm Lisa Bernhard this is waiters.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

U.S. Morning Call: IMF reiterates global growth concerns

Tuesday, October 09, 2012 - 03:05