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Supreme Court Begins Second Day of Hearings

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    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:53
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This transcript is automatically generated

This is very Imus in the morning.

On the -- Good morning everyone the Supreme Court will kick off its second day of hearings today on whether president Obama's health care a -- is constitutional.

Fox Business is Peter Barnes outside the core with the latest sports and Peter we -- people lining up to get into the court yesterday what's it like outside this morning.

Well then we got here in there about another sixty people who stay here overnight and it got really cold here last night down into the I heard high twenties hundred twenty degrees with a wind -- Here on Capitol Hill and one of the folks who spent the night here is Brian Flanagan is a second year law student at John Marshall university in Atlanta.

Brian.

Have -- -- president fox gives me why.

Are you here.

Well on here because as the very historic moment both our nation's history court.

Where where where the -- will be assigning congress.

Congress' college power -- -- region.

I just felt like I had to be here with part of history and -- and as a law student studying this case and studying.

The where the quarters him on the commerce clause in the past.

If this is somewhat felt compelled to -- -- part of him.

I have been waiting how cold it again last night you can't really cold yeah.

You don't have any -- -- -- blows.

Luckily had a friend that all is.

You know here here beer and we just kind of made do with what we.

Some kind bag at least creeping back home couple blankets of -- fact achievement that really didn't amount.

RG I don't think she didn't but I obviously you have to me passionate about -- -- that are out and about this issue.

To come out here and the freezing cold -- and deadline for them.

This very passionate and very passionate on this issue I think -- -- -- like you said when we're talking earlier that you saw yesterday hundreds of people lining up and all these protesters and all the media that's here and it's just it's something that is really gonna affect literally everybody in the nascent things and and it's just on felt that I have in this part of and I'm excited fit.

Brennan -- you're gonna get in there today so.

Enjoy it and and ahead and get -- -- -- Flanagan from from Atlanta Diane back to you.

I'd give me appears staying warm at least thank -- and government long underwear on but -- -- we're getting earnings -- now from McCormick and co the maker of spices and seasonings is reporting a profit.

A 55 cents a share the estimate there was.

53 cents McCormack also beat on revenue revenue came in at 906 point seven million dollars the estimate there was for 869.

Million.

Taking a look at markets now -- have been sort of toeing that line this morning.

We've seen them bouncing back and forth renouncing GAAP features up by two the S and -- up.

Just according to a point while the NASDAQ is just about flat over in Europe shares of RBS are up on reports that Abu Dhabi is in talks with the UK government.

About buying a stake in the bank also survey shows German consumer confidence fell after six months of gains.

Stocks in Europe are also fairly flat London's up by just four points Paris is up by eight.

Frankfurt up a little bit more up by about 46 points there but let's take a closer look at what's moving those markets with Commerzbank global equities economist Peter Dixon.

Over in London Peter -- Italy fell over five billion dollars in bonds today with borrowing costs falling to a four month low.

How crucial is this for Italy's efforts to reduce its debt.

Oh it's it's -- that -- vital mean I think the key -- what -- the keys emulates these.

Markets over the course of the next few weeks.

-- -- Will be extensive which they unity can maintain market confidence so tools didn't used to seeing -- to -- getting its -- the way.

Quite easily that being a sufficient -- buys and I think that's testimony to the front of the market's -- The detainees at least starting the process of economic reform which has long been delayed.

Now we also -- eurozone finance ministers meeting at the end this week.

And the group Organisation for Economic Co-operation and Development says the region's rescue fund needs to be boosted to one point three trillion dollars to restore market confidence.

What do you think about that proposal and what's the likelihood we'll see the ministers do that.

Well I think the -- -- -- he does need to boost these bomb but unfortunately I think given the yet the has sort of been slow progress -- -- cellphone getting to where we are now.

I think it's going to be very difficult to -- expect any.

-- -- decisions on extending the rescue -- I think it's going to be a long slow process.

On May be you know given that given the way that Europe's -- -- crisis in the past it will take another crisis before -- have forced to do something about it.

I'm Peter Dixon from London thanks Peter.

Let's take a look at commodities now oil and gold are up oil's up by eighteen cents at 107 a barrel -- up by five bucks at 1693.

Announced.

Imus in the morning continues right now on -- --

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