Fox Business
Expand
Browse All Video
Watch Live

You're watching...

ECB Leaves Rates Unchanged

Details

  • Description

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

  • Duration 4:58
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

This is this Imus in the morning.

On the -- -- That's like taking a look at the markets here in the US futures have been to the upside for most of the morning Dow -- are up by 29.

The S&P -- up by three in the nasdaq's up by seven over in Europe the European Central Bank has decided to leave interest rates unchanged at 1%.

The rate has -- at 1% since December are now also Spain sold 3.3 billion dollars.

Worth of three and five year bonds the yield on the five year was four point 75%.

Higher.

And the 3.5 6% from a previous options stocks there though are in the Green.

London Paris and Frankfurt are all -- to get several pieces of economic data in less than thirty minutes including the latest look.

At the labor picture 380000.

People are expected to -- filed for first time jobless benefits last week.

That would be down from the 388000.

In the prior week but.

Lately we've been seeing a lot of upward revisions so we'll keep an eye on that if both numbers remain below 400000.

That would mark the sixteenth straight week that they've done that.

We'll also get our first reading on first quarter nonfarm productivity that number is expected to be down by half of 1% for the quarter after the fourth quarter rose.

Nearly 1%.

Labor costs meanwhile are expected to have climbed by two point 8% during the period unchanged from the prior quarter and we'll have all those numbers as soon as they cross.

At 8:30 eastern.

Last hour we learned employers announced plans to lay off more than 40000 people in April that's according to outplacement firm challenger grade Christmas.

April's layoffs are at seven point 1% rise from march and an eleven.

Point 2% jump from a year ago -- -- so far this year job cuts are up nearly 10% compared to last year.

Now let's shift gears and talk to you're up with the case stinks from Dow Jones Newswires over in London next.

We got the ECB's rates higher than a short time ago and -- is set to hold his press conference in a little while what do you expect to hear from him.

Well first Noual I mean I don't think anybody was surprised that the ECB left the rates unchanged but it is insisting that the way the Euro -- is -- a few people out -- hoping that maybe he would.

Actually do something with the rates on but.

I said he did.

Salzburg -- functions is concerned I think everybody's expecting.

The ECB president to acknowledge the -- -- we've been seeing the last few weeks suggesting there.

That the eurozone is sliding swiftly announced in the back into recession we've already seen with the -- and Spain.

That is not suppressing downtrodden to -- actually contemplate.

Kinda pouring more long term money as we -- with the bank loans previously because people say about cutting interest rates -- not one cent level on the -- going to be very nervous about this ahead of the elections in Greece and cons of the week and he's also probably gonna be very nose and it is because and the like probably keep pressure on the European Union governments to continue.

-- that this Golan measures.

So I think that yup I think you have to acknowledge slow growth.

And so I think he may hint.

Easy policy in the future I think to be very carefully does it.

Are right and we also had Spain's bond auction this morning demand -- -- the borrowing costs are up against -- what do you make of that.

-- put it this way.

If somebody's gonna pay you massively to lend them some money.

You'll probably take the risk of mass of people didn't think they don't think Spain's gonna -- -- -- it's highly dispensable.

I made its existing to point out that -- when when the countries are doing this they are back so it's its favor investment and and when they're competing with you know banks through the private equity them.

Nick thank you so much for you tell us this very similar in fact what our previous guest said.

As far as drag his comments we'll see if you guys are right thanks so much nikkei's gains from London fantastic things that.

And General Motors is reporting -- lower first quarter profit than a year ago but earnings still beat the street's forecasts thanks in part to strong demand in North America.

GM says it made one billion dollars and 93 cents a share on an adjusted basis eight cents above the expectation that keep in mind GM reported a profit.

A 3.2 billion dollars in the year ago quarter.

Boosted by the sale of its Delphi parts unit.

Revenue rose 4% from a year go to 37 point eight billion beating the estimate.

A 37 point 58 billion dollars and shares are climbing on those results in premarket.

It is retail Thursday and -- same store sales numbers from some big names Macy's is reporting that sales are up one point 2% in April the estimate.

But for an increase of one point 9% target says its monthly numbers rose one point 1% last month.

And analysts were expecting sales to rise by two point 8%.

Here's a look at commodities now oil and gold have been down all morning -- now down by about 25 cents.

And around one out by the babble is down about eight months at 1645.

Announced.

Coming up this hour Imus is guests will be sportscaster Mike Green Imus in the morning continues right now on Fox Business giving you -- how.

Load More