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FBN’s Diane Macedo breaks down the stories moving the markets around the world.
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This is -- Imus in the morning program on the fox.
Good morning everyone proceedings are under -- in London as a British judge questions News Corp.
chief operating officer James Murdoch about that phone hacking scandal at news of the world Fox Business is Robert -- in London now.
And Roberts what the latest.
Robert what's the latest patients -- -- good morning Diane well yeah the first part of the -- did focus on the news the world phone hacking scandal.
James Murdoch was largely question about governance at the Paper and his role when chairman of news international it -- news of the world.
He repeated his previous assertions that news international outside investigators as well as the police had all looked into the hacking and there was no new evidence of additional instances.
He testified that editors told him they would stop it from happening again and he was a short.
That the illegally intercepting voicemails had not gone beyond a rogue reporter and a private investigator.
Doctor short fifteen minute break the questioning moved on to his and the company's relations.
With senior British politicians.
That's -- portion is under way on ongoing at the moment he was asked about meetings with Tony Blair Gordon brown and current prime minister David Cameron.
-- says these meetings covered a broad range of topics including the economy.
James -- is a deputy chief operating officer of News -- the parent company of the Fox Business Network Diane back to you.
-- I Robert great live from London thanks Robert.
And we're getting earnings in from Reynolds American 63 cents.
Is -- we came in fifty.
63 cents a share the the estimate there -- for 65 cents -- they missed on earnings revenue came in at one point 93 billion dollars that also was -- -- The estimate there was for one point 98 billion -- also just got earnings in from Hershey.
The food companies reporting a profit of 96 cents a share that beat the estimate for 81 cents.
Revenue came in at one point 73 billion dollars that also topped the expectation.
For one point 66 billion.
Taking a look at the markets now after yesterday's sell off we're seeing stocks in the Green.
Dow futures are up by thirty BS and -- up by four in the nasdaq's up by thirteen.
Over year of the Netherlands -- sold two billion euros worth the two year and 25 year bonds.
The yield on that two year was zero point 523%.
But Spain.
Saw its short term borrowing cost nearly double -- sold one point nine billion euros of three and six month bills.
-- so -- in the Green London's up by nineteen Paris is up by 36.
And Frankfurt's up by about 42.
Now let's take a closer look at what's moving those markets -- BDC partners market analyst Louise Cooper.
Over in London believe he's just been short term borrowing -- nearly double after this latest bills -- what kind of concerns is that raised over the country's.
Ongoing debt problems.
This is nothing new if you look at buying foreign cost they have been doubling -- a complete -- auctions.
This month and you might say they did manage to sell three month bills but -- office no point 63%.
Best is no point.
Three -- says -- the end of last -- Month and six month bill sold one point 58 cents.
Buses and you know with an 8% at the end of last month -- Spain is effectively forward on a six month by excess.
But the site like that Germany can borrow on -- ten -- I suspect.
Really that that the gap between the half and the -- -- the gap between the strong and the weak is getting wider again.
And the reason we're also seeing most Europeans that's partially reverse some of their steep losses from yesterday what's giving investors.
His confidence boost.
-- little bit more positive news of the united went with the dot bond auctions today.
But to be on ice is probably just a big bit of a bounce back we had such big stink -- yesterday that a slightly more positive.
Out -- -- is is nothing to be get to get excited about current Louise Cooper live from London thanks please.
And we're getting earnings in from coast now the luxury accessories companies reporting a profit of 77 cents a share.
That beat the estimates of 75 cents.
Revenues also -- very slight -- coming in at one point 11 billion dollars the estimate there was for one point one billion.
And -- -- will be watching apple after the bell today when the company reports its second quarter results.
The tech giant is expected to report a profit at just over ten dollars per share.
On revenue of 36 point eight billion dollars investors will be keeping a close eye on how many iphones and ipads the company soldier in the quarter.
-- results come amid recent struggles by Apple's stock which is down more than 4% over the last month but shares are getting a boost in the premarket.
Let's take a look at commodities now less -- bouncing around this morning right now we're seeing it in negative territory it's down by about two cents.
Around 103 of bell gold is up about six dollars at 1639.
Announced.
Imus in the morning continues right now on Fox Business giving you the power to prosper and.
