Euro Worries Weigh Down US Stocks

Annalisa Burgos analyzes the morning business headlines.
8:17 | 01/24/12

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Transcript for Euro Worries Weigh Down US Stocks
Dow futures were down this morning on news that the bailout for Greece -- -- falling apart -- against joining an -- just -- out of business headlines at this hour. And face from Bloomberg TV and alleys of -- I know personally so it's great to see her on our snow and alleys -- think you and welcome. Stephanie. -- always want to get 7 NEWS added that euros now and that's seems to be what's driving markets lower at this point at first. Let's tackle the talk in the day breaking news Mitt Romney has released his tax returns for 2010. -- show Romney made 21 point seven million dollars for the year he paid about three million in taxes. -- -- -- -- It's -- here and it's going to raise eyebrows Italy's well you know. Interesting thing is that number 14%. What's causing all the uproar about tax. So now talking about reform you know certainly something that -- president Obama's going to be seeing in the State of the Union Address tonight. Basically again that 14% saying. -- and he took advantage of this -- for -- preferential rate on investment income -- you know. He has as stake in his former capital group so he's taking. -- that benefits there and yet critics right now are seeing this is classic case of the wealthy taking advantage. A preferential tax. Calling for you know changes in the tax code. As as -- mentioned that Obama will definitely be touting his tax reform plans tonight. You know just a side note Warren -- was in an interview with our Betty Lou and he is saying that he did agree that they should raise the tax burden on some -- your income households have that it. -- it's been saying that for awhile OK of course we've got Newt Gingrich under pressure release his contract with Freddie Mac. So far Gingrich is releasing only his contract for 2006 which shadows. He was paid 300000. Dollars is there any reasonably as contracts for the other -- -- really any different. Interesting thing here to note is that -- Act act actually executives from Freddie Mac -- -- Bloomberg. That the reason why. They can't release those other contract it's because. In them is that interest. So you know it's one of those situations where. You know it's it's semantics Gingrich is saying it's not lobbying. But -- critics are saying and in the -- what you're being paid to consult. For a major you know agency like Freddie Mac. You can't help but. But raised eyebrows there right now. -- exactly so. I now that's very strange I am surprised and -- -- makes us tonight. Any particular. Wants to hear from. Actually a big thing that were right now as -- 25 billion dollars. Deal and the settlement between the major islanders that includes you know Bank of America JPMorgan Chase. Wells Marcus Allen financials -- big mortgage servicers in the country. And they had saddled -- -- state and federal officials line this this these deceptive foreclosure practices that we saw a year ago. And you know. As well. Wanting it really issue. Put those banks on the line for all those practices that led to a lot of homeowners losing their homes. Right now you know they're talking about this 25 billion dollar settlement but. We are here that Delaware's state attorney general refusing to sign it as it's written so you know we're gonna CU went others injured attorneys general like. Think about -- Crisis expert switch gears turning -- year whereas market -- our. -- -- -- Interestingly. Is that we are hearing that there's a stalemate between the bond holders. And Greece and Euro. You know finance ministers really saying that the bondholders -- conceptions so that -- can get you know this potential default but. We're hearing from analysts talking to Bloomberg that there's some sort of funeral -- going on that you know US investors are really seeing the direct effect. On the markets as he thought they would more than eager instruments whole debacle has been going for some years now and so. Interesting enough when -- -- -- -- -- -- -- out jobless the World Economic Forum is kicking -- tomorrow. US banks probably. As opposed to you know the Euro the Euro crisis that you know it it's your rights act and it -- market's -- We've got quite a few companies reporting earnings today among them. Apple McDonald's and Yahoo! so let's start with McDonald's which already reported this morning what did we see you there that's right. Well you know McDonald's. Everyone seems to let it right there -- -- we love it -- and yes -- Right now you know that's not looking higher because you know. They reported a quarterly profit that rose 11% looks like their strategy of branching out you know its coffee they wanted to take on Starbucks. The also offering these you know cheaper menu items to get more people and it it looks it's working. You know they saw a lot of more customers come in and that's. Globally so that's caused -- you know at 11% jump in profit. I can't keep ticket French francs down canyon -- -- what apple. -- since this will be the first quarter of following the death of Steve Jobs yes yes interestingly enough you know we've got lots of -- -- apple you know we've been covering them forever. Basically the brought blockbuster sales Fran the last quarter for the iPhone four -- you know we've had analyst -- -- those projections upward. So it's looking like it's going to be another blockbuster. Quarter for the for the company and you know we got a lot of news about it its new. Google say -- -- aren't there. So far seems like -- -- along without jobs just fine. OK let's turn another headline Macy's is suing Martha Stewart's company they -- block JC Penney's from selling Martha Stewart where's. Do they have a legitimate right to do this you know it's interesting ways to park. And -- -- this icon right because. Apparently it's done really well for me -- so now you know this new deal you know as you know JC -- signed -- -- bought it 7%. Percent stake in Martha Stewart's company on the leading media. And they announced last month that they were going to you know create many stores within department stores offer her. Acts out his you know says excuse me we have an exclusive rights to sell. Mark -- branded products. How does how will this affect us. Now they filed -- -- that lost in court yesterday and what happened but right now it seems like advocates you know there contract expires -- 2018. And they're fighting for. You know. Martha branded products and how how different -- AP -- have. -- -- and Macy's will they be different from -- is linens in just see what how with a settlement there. -- story. Watching. The reserve kicks off a two day meeting today. And for the first effort they're going to be offering -- looking for you know every time these interest rate. News comes out of the market so you'll just see if this strategy you know it's meant to increase transparency -- you're really pushing this transparency. About the central bank and you know -- this these forecasts come out will be interesting to see it. If -- -- -- the shock of the news. These industry news releases will still continue to -- market. Since -- let's -- formerly that the Dow rank now before we let you -- on the Dow trading down about eighty points perhaps that news out of Europe indeed weighing on the markets a little bit. Alleys of work goes from Bloomberg TV it's always great to have an interface with us thank you -- good to see Stephanie thanks.

This transcript has been automatically generated and may not be 100% accurate.

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