Dec 12 - The U.S. Federal Reserve is expected to announce a fresh round of bond buying as part of its efforts to support an economic recovery with low interest rates.
Let's pick up your morning -- on Wednesday markets focusing on Ben Bernanke crew keeper -- round of bond buying from the Central Bank. The -- last stimulus program Operation Twist is expiring policy makers looking to replace it. Fresh 45 billion dollars per month and on line. The Central Bank is expected to continue buying forty billion per month in mortgage backed securities. So that's a grand total of 85 an asset purchases every month. The Central Bank is likely keep buying treasuries until the labor market outlook -- pretty substantially. They're also expected to keep overnight rates at near rock bottom lows until at least mid 2015 -- we'll bring you the latest when the Fed announces its decision around 12:30 PM. Also stream Fed Chairman Ben Bernanke's news conference at 215 yen and then it -- congress James app will weigh in with his take on the bad. US stock futures point to a fractionally higher open on Wall Street investors are encouraged by the -- impending action. Action though seems to be the board in Washington when it comes down to the fiscal -- talks. Wal-Mart CEO Mike -- -- saying he expects it to eight current holiday spending. -- told reporters on Tuesday that in the week before the US presidential election only 20% of wal mart's core shoppers knew what the term fiscal -- meant. One week after the election it was up to 75%. Taking a look at European shares there also trading higher today keeping alive a three week rally. Investors there also betting the Fed would deliver on stimulus. The holiday season is upon us and in new Reuters it says poll shows that retailers could see a big boost in the last two weeks before Christmas. Because Americans are -- close to having a shopping done. In terms of budgets the poll found only 14% of respondents plan to spend more this year and that's when eleven. While 55%. We'll spend the -- and 20% spent last. So what does this mean for big box retailers. Target and Costco are expected to post a 5% rise in same store sales. Up from four point 3% in December last year. Department stores such as Macy's and Nordstrom's may also seen monthly sales rise compared to 2011. That's according to Thomson Reuters forecast. Stocks were watching this -- day all eyes on Costco Wholesale giant posted 830% rise in quarterly profit. Beating expectations. As sales and higher membership fees revenues. From bulk to beauty -- saying it will cut about 15100 jobs globally and exit South Korea and Vietnam. All part of turnaround strategy announced in November. We're also looking at Chesapeake Energy CEO Aubrey McClendon agreed to sell most of his remaining natural gas processing and gathering assets. For just over two million dollars as the company continues to find cash to pay down its heavy debt. And finally sources telling Reuters that Sprint Nextel is in talks in talent Comcast to buy out their stakes in Clearwater. Sprint currently just over 50% in the wireless provider. That's it we -- Wednesday morning call follow us on Twitter at Reuters Insider and check out 82 now at it dot com slash. And Lisa Bernhard this is there.