You're watching...
FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
This is good Imus in the morning.
I'm on the phone -- We're looking at down markets pretty much across the board this morning after a survey at Chinese manufacturing indicated contraction.
We also have the start of the French elections this weekend and here in the US futures are down across the board.
Dow futures are down by 125 the S and -- down by almost fourteen and the NASDAQ down by 23.
Over in Europe data also showed business activity in the eurozone contracted at a faster than expected pace in April.
Stuck there are also in the red across the board with London down by triple digits the Dax is down almost 200 points.
Let's take a closer look at what's moving those markets now with -- -- -- -- -- global markets over in London -- talks over measures to slash the Dutch government's budget deficit collapsed over the weekend after seven weeks.
Of negotiations what does this say about the country's commitment to the ease austerity agenda.
Well I mean it is significant in terms of the politics of the Benelux and -- -- but it really.
-- Poland itself is not really -- concern is not a peripheral country.
It's very much smaller version of Germany.
An album clearly a triple -- country -- a -- having a few difficulties about.
How to cut the budget well hey what's new that troubles -- governments.
Parliament's how to actually -- -- who -- the losses but we're right too much -- a little.
But I wonder -- could this be indicative of a new trend we see this.
There with the Dutch government we're also looking at these French elections and Nicholas Sarkozy is not in the league right now he is being beat at the moment.
By a socialist -- is advocating spending -- austerity so so like I said could this be indicative of a trend.
Yeah I think France took a little bit more all -- really that -- because it's.
The major pot now with -- in the Europe project a junior partner I have to say.
But you know the possibility all of a socialist leader.
A whole world amid a strong challenge in the first round about 1% more the -- -- Sarkozy.
He's threatened to a -- gold renegotiate the fiscal pack which is the -- -- up behind the new management told all all of Euro zone government budgets something kind of -- have pushed for it Edwards -- great job and financial simple.
But possibly open ended -- but they're being open ended and then a challenge about the ECB.
Becoming a more mold growth -- -- just inflation pricing.
-- could mean some bases for under local in eurozone debt management and economic -- federal.
-- -- -- Randolph live from London will be watching this and closely on and reassure investors well.
As well thanks so much.
And now we're getting earnings in from ConocoPhillips.
The companies reporting a profit of two dollars and two cents a share that fell short.
Of the -- -- analysts were expecting two dollars eight cents the estimate for revenue is 53 point six billion dollars were still waiting for that number to come in.
But again it was falling short a kind of -- -- came in short.
For its earnings so far meanwhile Hasbro missed analysts' estimates with its first quarter earnings profit came in at -- cents a share half of what analysts were looking for.
And if you factor in restructuring costs Hasbro actually lost two cents a share compared to -- office twelve cent profits.
From a year ago revenue at the second largest US toy company slid 3%.
From a year go to 649.
Million dollars also coming in short of those estimates.
And that really has struck a deal to buy advisors in -- nutrition business for nearly twelve billion dollars.
Edging -- French rival -- in the lucrative baby food market.
-- -- was already seen as a favored bidder thanks its deep pockets and because it's using cash to pay for the unit.
-- says the deal -- generate 2.4 billion dollars in sales this year.
It's up the fighter unit in order to boost its business in China and extend its lead in infant formula.
-- put its infant nutrition and animal health business is up for sale last July in order to focus on its core pharmaceuticals business.
Now let's get the latest on weather from meteorologist Maria Molina and our Fox Business weather -- -- -- Hey good morning Dan and good morning everyone and today we're tracking an area of low pressure -- has strengthen any overnight and today's producing a lot of moisture out across the northeast.
Although the worst of it already hit areas in New York City and also -- -- -- the south like Philadelphia so we picked up about.
Two to three inches of rain in these locations and now the worst of the rain is headed northward and impacting portions of the -- of -- and also the rest and -- English.
And the backside in the system it's holding up that we're actually seeing the rain transitioning over to snow over foot of that expected and on some of the higher elevations and.
All right Maria thank you -- to go back to those college ConocoPhillips.
Earnings again net earnings came in profit at two dollars two cents a share that was sort of BS that two dollars eight cents.
And we just got that revenue number in it came in at 58 point 35 billion dollars that was the BP estimate was for 53 point six.
Imus in the morning continues right now on Fox Business.
