Stocks Begin the Week Higher

Sheila Dharmarajan explains what is driving markets up.
7:12 | 10/24/11

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Transcript for Stocks Begin the Week Higher
Stocks futures are up this morning joining me now to discuss this and all the business headlines is Bloomberg TV Sheila -- -- and good Monday morning to you Sheila. Happy Monday night at Yankee -- all right so let's let's what didn't happen over the weekend the Euro debt crisis we didn't get the big announcement that investors have been hoping for what happens. Yeah. -- again had different you're driving market sentiment this morning at feeling and -- to sound like a tape recording here but it really is all about your right now. A series of meetings happened over the weekend as He said we -- get the big deal that people were expected for -- get as big headlines. But we did get signs at practice a lot of officials coming out and saying look we are making practice on this progress on this. What we know right now is that they've decided not to really tapped the ECB balance -- instead the focus is negotiating with the banks and what type Herrick that they may have to take on Greek bonds. We also have yet another deadline they set October 26 now is the new -- which they expect to have a big announcement. Hasn't had a big plants are for right now markets are taking this is good news as progress but I will play -- -- again. We don't have a finalize playing -- -- everyone really watching for October 26 to get that big plan out. There yet especially investors here in the US there really is concerned that they're not can't figure this out. Aren't let's -- a little bit Sheila federal regulators are announcing a plan today to help. Millions of owners this -- millions of homeowners this is getting a lot of press where you hearing about it. Yes it really this is a series of new rules and regulations coming at from the at eight at this day which is basically the housing administration agency. And it's all about helping those consumers who are right now underwater on their marketed as -- -- and there are several homeowners in the US that basically are paying -- market. More than what the house itself is where it's all of these regulations all of these new plans -- -- helped them get out of that. To some -- -- -- could actually an option of this market is to investors and deep discount. The idea being that the ultimate mortgage will also be -- and is well and there are also some other plans as well the helpful to refinance their market is. Regardless of what situation -- and -- again this is really a -- of initiatives to help those people. Who have underwater market is of course help the overall economy. And the housing market we're gonna have to see if it works but as He said there's a lot of anticipation around that even President Obama will be making some short remarks -- this in a little bit this morning. Let's hope this works aren't let's talk about earnings report at a caterpillar what -- -- there. Get this a great earnings -- at a caterpillar and again one of the big reasons we are seeing markets higher this morning. Caterpillar when -- -- big global industrial -- -- -- everyone looks to as a Bellwether for spending and for the state of economic health. And you know -- Stephanie they crashed their -- they beat earnings they beat sales they -- boosted their outlook for 2011 and 2012. Specifically the CEO coming and saying we know there's a lot of issues going around in the world we know there's a lot of investors were nervous. The right now we're not seeing any of that in our business that is a great -- continents where the economy investors really liking that news -- that shooting on that this morning. Also helping lift the sentiment around the overall market. Okay on the flip side -- got some discouraging news from the jobs market looks like the situation may get worse what's going on. -- -- this is not data from a private survey done by the national association of business economics you know they do this survey every couple months really getting a temperature check on US corporations and their hiring plans. The bad news is US corporations actually have the worst employment outlook that we have seen since January 2010. A lot of muted expectations around the employment outlook a lot of people are saying look we're really not planning on hiring anyone in the next six months. There is a silver lining to this report -- corporations also didn't think the US would be going into a recession mode which is good news. But they did He is slowdown of course and it's impacting heavily on the jobs market -- -- results of the survey still. A lot of issues when it comes to -- housing and planning kind of the two big fees have been talking about when it comes to US economy. Absolutely -- -- Swiss banks are -- to saddle. A multi billion dollar probe involving US account holders what's behind this story Sheila. In a sweeping probe that it's been going on for a while and it's really about a probe into -- taxpayers. -- may be evading taxes by going not sure to Switzerland in hand a secret bank accounts. This is been an ongoing investigation for quite some time that there -- had been some big financial institutions and Credit Suisse involved in this. What sources are telling Bloomberg News is that we may be -- seeing a settlement Swiss banks may be soon settling in the billions of dollars -- to get out of this investigation. Also is part of this they may be -- giving up the names of several thousands of shareholders here in -- very very interesting kind of progress on this -- gonna have to see the exact because -- but we are hearing the Swiss banks. Will be settling in the billions of dollars to -- an -- will be giving up some of those client names interest. -- RA a lot of talk about the biography of Steve Jobs which comes out today. And we are hearing some bombshells in this book what are people talking about. He would a lot of people are talking about here is real some of the personality affects the -- jets never talks that missed -- -- -- -- -- -- Some not still positive portrayals of him as a manager you know He was had a very quick tempered. Could be very aggressively arrogant at times -- -- tells him things that are -- in the books. -- Steve Jobs took a very open papers to his competition He talked very openly about Google about -- -- Interestingly when it comes to FaceBook and social media He -- that He admired. Mark Zuckerberg quite a bit for not selling -- -- A lot of -- because coming out there is also some updates on his cancer treatments -- that He was being treated for quite some time -- You know people -- really lining up to get this inside -- ST -- I have to say I have my name on the book when that line is well. I'm -- and you know what I think I'm gonna try to download it from my -- on a high iPad as soon as possible so fascinating video tribute right down Linda and I and I tribute to Steve Jobs. OK this is really interesting because there's talk that Google may be financing deal to buy. -- -- Yes silk -- and that has had its share of issues -- -- as CEO Carol Bartz was ousted back in August and since then the numbers for -- just really haven't been positive. A lot of people circling around potentially buying -- He had private equity -- and there. Now Google is also emerging as -- potential better. Here is it's interesting what we're learning right as the Google probably won't be as standalone buyer for Yahoo! in the since they want to -- buying Yahoo! -- -- combining it with its own operations. What they may be doing there is partnering up the different private equity steps and help finance the bid so it's going to be interesting to see how this plays out. We've certainly heard a lot about people -- and Yahoo!. Well now you can -- Google in the makes two and perhaps financing some of those beating her. Setting a very interesting all right let's take Wal-Mart look at the Dow right now on this Monday morning six minutes into trading Sheila -- -- up about 36 -- seems like there's some positive sentiment running through Wall Street. Yeah we're seeing Green across the boy hit Dow NASDAQ and -- are higher right now I -- really leading the way up -- -- six tenths of 1% NASDAQ and S&P higher as well. You know we really are in the earnings -- to this caterpillar earnings that we -- but helping lift market sentiment a big -- to watch after the market status Stephanie is Netflix -- this is a company that's had its own charity issues. PR blunder is a business model -- this year everyone's going to be wanting to -- when Netflix has to say today. As always -- -- and from Bloomberg TV thanks a lot Sheila good to see you have a today. Thank you.

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

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