Sep 27 - Spain set to announce fiscal reforms and strict budget cuts, and Tempur-Pedic acquires Sealy for $1.3 billion.
Spain putting the squeeze on investors hoping to snap the S and paid S and -- five days split. Here's your morning call for Thursday. Spain is set to announce its fiscal reforms and strict budget cuts today after thousands of anti austerity protesters. Gathered for a second night near the parliament building demanding that prime minister late resign. The reforms are expected to pave the way to -- for Spain but they may do little to actually reduce the deficit. I'm forty I don't think the budget will achieve the deficit reduction that is dying student I think it will be deeply unpopular. -- -- the the -- inspiring it and even made last year is last -- demonstrations and cannot afford to. To Mike the point I mean -- in half you -- twenty year old can't find a drawl. It is bound to be social unrest and discontent -- but at the anyone's really get a win from from this budget on the right. Investors in Europe seems like it though hoping to budget might -- Spain toward eight program. And allowed ECB to launch into new bond buying plan. Stock futures here in the US seeing a lift to investors hoping to break the longest losing streak in two months for the recipe. Back at all depend on the slew of economic data on deck for today. Out at 8:30 AM durable goods orders for August expected to show that long lasting manufactured goods dropped four point 4%. The anticipated decline likely -- to drop an aircraft and motor vehicles orders also get the third and final estimate for the second quarter GDP. Growth will likely be confirmed at an annual pace of one point 7% according to a Reuters poll. Other data out this morning pending home sales for August and weekly jobless claims. Research in Motion trading slightly higher in the premarket after rising 5% on Wednesday. The Blackberry maker reports quarterly results today. Analysts hoping to learn more about the possible size of -- cash pile ahead of the 2013 launch of the Blackberry ten line up. Rim has been battered by the likes of apple and Samsung in the clashes Smartphones. Has been in the partnerships joint ventures or the outright sale of the company. Now for more an earnings discover financial may discover a 16% loss in net income went reports third quarter results. The drop is expected to content even as consumer credit generally approves. Chipmaker micron reports fourth quarter results losses expected to widen from a year ago. The company likely to comment on its acquisition of Japanese chipmaker LP in memory. After the bell will find at -- Nike's just do it is still working its magic the company's quarterly profit is expected to decline from the year ago. Do you weakness in Europe and China. Deal activity heating up this morning with Tempur-Pedic announcing that it will acquires you -- for one point three billion dollars. The two companies will operate independently. Shares of -- soaring over 10% on the news. Also keep an eye and Dean Foods today the company confirmed that it may sell at Morningstar division in the deal that could be worth more than one billion dollars. That's your morning carpet Thursday follow us on Twitter at Reuters Insider for the latest headlines. And check out our energy to channel at Reuters dot com slash Reuters TV. I'm Lisa Bernard this is Reuters.