The video that this transcript is based on appeared on Nov 12.
NEW YORK (TheStreet) -- Inflation drops more than expected in the United Kingdom, and the OECD reports optimism on eurozone growth.
Stock futures are slightly lower. Good morning I'm Joe Deaux reporting from wall street on this Tuesday November the twelfth. US stock futures were pointing to a lower opening after Dallas Federal Reserve President Richard Fisher on CNBC reminded market participants that the central bank's economic stimulus program can't go on forever.
In news abroad the United Kingdom's Office for National Statistics said inflation fell 2.2 percent in October
the consumer price index measure missed expectations have 2.5 percent. The drop comes a week after the European Central Bank announced a cut to its benchmark interest rate as European bankers feel fear I've lurking inflation on the continent. For our earnings roundup: this morning returned to Nicole Urkin in the newsroom good morning Nicole good morning Nicole.
Rackspace looks like a deceleration revenue on the cloud what what's going on?
Yeah at Rackspace is a cloud play that has not posted strong performance this year down actually about 30 percent.
On the other hand another cloud play that Jim Cramer has been in favor out is SalesForce.com symbol (CRM) - Get Report , but Rackspace (RAX) is down pretty sharply this morning on disappointing cloud results. They had a deceleration in there dedicated cloud platform and the stock is off morning in tandem is a high multiple stock name despite its lackluster performance or thing that this morning.
Exactly orders actually fell 2 percent year-over-year, that while okay actually we haven't seen very high expectations for the housing names. DR Horton is actually indicated up premarket despite kinda lackluster results just because expectations weren't high going into the quarter.
And finally I think we have newscorp, looks like they may have missed at this is the new basically newspaper base newscorp.
Yeah exactly newscorp has been moving based on a lotta change in the company; reorganization. Results were okay cost controls drove the beat, but working with top of slightly this morning we will have to hear more from the conference calls as well.
Alright thanks so much, the Organization for Economic Cooperation and Development or the OECD wrote in a report out Tuesday the growth is expected to pick up in the euro zone China and the United Kingdom but developing economies like India and Brazil are expected for slower push ahead that's what's happening this early morning on wall street for the street I'm Joe Deaux.
Written by Joe Deaux in New York.