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AT&T Tops Estimates in 1Q

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  • Description

    FBN’s Diane Macedo breaks down the stories moving markets ahead of the trading day.

  • Duration 4:56
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This transcript is automatically generated

This is the -- for the morning.

Good morning everyone News Corp.

deputy chief operating officer James Murdoch is being questioned at -- -- an inquiry in the first of three days of proceedings Fox Business is Robert -- Is in London now with the details Robert what's the latest.

Hey good morning -- -- the third hour of questioning is now underway at the Royal Courts of Justice.

Here in London James Murdoch currently being question about news corps dropped -- for full ownership of broadcaster B sky B.

Earlier he was questioned about the phone hacking scandal at the now defunct news of the world newspaper.

As well as both his and the company's relations with senior British politicians.

Counsel to the -- as an inquiry Robert.

Murdoch says these meetings and others have not led to an advantage in the way the company operates its business.

Murdoch open by repeating his prior testimony that internal external and police investigations.

Have looked into the phone hacking and there was no evidence of additional instances during that time.

He also said he was assured by news of the world editors that phone hacking had been limited to a rogue reporter and -- private investigator.

James Murdoch is -- deputy chief operating officer of News -- the parent company of the Fox Business Network Diane back to you.

That Robert great live from London thanks -- And now let's take a look at the markets here in the US we're seeing Green across the board after yesterday's sell off Dow futures are up by 52.

Yes -- up by about five in the nasdaq's up by almost eight.

Over in -- the Netherlands sold two billion euros of two year and 25 year bonds.

The yield on that two year was zero point 523%.

But stay inside its short term borrowing costs.

Nearly double as it sold one point nine billion euros of three.

And six month bills UT stuck there are up across the board.

London's up by 25 -- is up by forty and Frankfurt's up by 26 but now let's take a closer look at what's moving those markets the Dow Jones Newswires senior corresponded.

Nick Hastings over in London nick.

Hasn't yesterday French government debt was the third worst performer in Europe this month after the Spanish.

And Italian securities -- that a reflection of investor sentiment toward fronts while whole -- This a sign of caution ahead of his potential election.

Well absolutely I mean everybody is no -- us of that alone will actually you know win the election and then insist on -- renegotiation of the fiscal packed.

A stop creating problems all over the place.

It's it'll lead Germany very -- -- isolated -- -- I'm not -- Amazon.

Friendly with the I'm Nicholas Sarkozy I mean.

A one -- even seem to be on the verge of tightening campaign for a mountain in front on so yeah I think that is really key element in terms of what's gonna be happening with the Europe.

And in keeping with that -- -- -- long term borrowing costs crept up at today's bond sale after the government collapsed yesterday in a crisis over budget cuts.

That's should demand was highs so what do you make of that option.

Well that.

Just goes to show basically at how investors are still not willing to pull out of -- -- we've seen that the performance of the Euro itself.

I think very -- -- here is the fact that yes.

You know the debts may have the -- government may have gonna collapse on these as the negotiations but the feeling is said that it's still a good place to invest.

And that there is no reason for people stop perhaps running scared.

Seriously scared.

At this stage of the game so although we saw that initial react negative reaction yesterday today people seem to have calmed down and been a little bit more on positive towards it.

It is very and -- also.

Then of course Germany still remains a place to invest that quite happens put that money regardless of the fact that we've seen sort of view.

Slow us slowdown in industrial production.

-- in industrial activity.

On so it is it just think the euro's been find people -- -- a comic moment but that does not mean.

And nothing's that that debt that yet the problems over there is still masses of risks going on him.

Right -- -- things live from Dow Jones Newswires in London thanks nick.

And we have some big names out with earnings this morning including AT&T which is seeing its shares climb in the premarket.

After reported its first quarter profit jumped more than 27%.

From a year ago to sixty cents a share.

Revenue climbed 2% compared to last year to 31 point eight billion dollars.

The nation's second largest mobile phone company added 187000.

Subscribers in the quarter.

Eighteen T says it sold five and a half million Smartphones.

And let's take a look at commodities now oil and gold have been sort of bouncing around today -- oil.

In Green territory now by about forty cents at around 103 a barrel gold is up about eleven dollars.

At 1643.

Announce.

Coming up this our Imus in the morning continues on Fox Business giving you the -- prosper.

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