U.S. Morning Call: U.S. futures down on Cyprus bailout worry
Monday, March 18, 2013 - 03:31
Mar 18 - U.S. futures signaling a weak open on concerns of a Cyprus bailout as Cypriots & foreign investors emptied ATMs following an unexpected $13 billion deal under which savers must surrender up to 10% of bank deposits.
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Hitter Monday morning call it's. Surprise decision any new precedent in the eurozone. The euros on striking a deal over the weekend -- Cyprus yes Cyprus. -- out where thirteen billion dollars but here's the catch. Clinton under one proposal have to impose tax rates on bank deposits between six point 75 and nine point 9%. That's right a tax on bank deposits Cyprus parliament postponed a vote on the tax until Tuesday Reuters reports. The new president sending shockwaves through the financial markets in Europe and elsewhere with a 100 sinking into a sea of red. Without the belt out snipers would have been able to avoid a default. The overall banking system and snipers grew to become more than eight times the country's GDP. Cypress also may -- to Greece worth one point six times its GDP. Some investors seeing it dips as a buying opportunity. One hedge fund managers saying the situations like this storm and it teacup. And weakness should be pot adding quote this -- message you're up to Cyprus to stop misbehaving. Into the US market stock futures getting sucked into the -- cyclone they're signaling a weaker open. Political leaders in Washington will be back at it this week fighting over their budgets. Are all coming together in a joint budget budget resolution. Senior congressional Republicans saying yesterday they -- chance for a raw deal with President Obama on deficit reduction. And reining in spending on -- government programs like Medicare. And later today we'll see the national association of homebuilders issue it's march housing market index. A couple of aircraft makers -- hide this morning sources saying you're Airbus has landed a record quarter potentially worth twenty billion dollars. Yeah Indonesia's lion -- That's potentially smashing rival Boeing's grip on one of the world's fastest growing airlines. Going testing is an eighty -- volatile battery -- to rigorous standard that the company it's helped helped develop. It never used it on that jet before. Shares of Boeing closing up the last session. Some stocks to watch this morning at the -- we're looking at apple the tech -- closing higher for the second week in a row. Trading in the premarket this morning. Samsung galaxy S four putting pressure on apple to keep -- -- -- Smartphone design. An analyst at BT IG and lower cost iPhone could be in the works which sales in the developing world. It is a bottom to the analyst added quote we believe it's now worth risking another -- percent downside pain in the stock in the near term. For potential reward that could be three times in the first year round. We've got Ryan JPMorgan to post and hearing and stress test results. Shares off over percent in the premarket. Shares of stress -- -- Citigroup also down in the premarket -- well that'd be another stress tests -- also down in the premarket. The -- ask possibly -- going further into US banks this morning. I think we have Monday morning -- follow us on Twitter at lakers insider. At Margaret let me.
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