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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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This is this Imus in the morning.
-- let's take a look at the markets right now here in the US the Organisation for Economic Co-operation and Development.
Increase the growth forecast for the year to 2.4 percent up from 2% futures.
Are in the green across the board Duffy just drop by two point sixty S&P -- up by about four.
And the nasdaq's up by nine over in Europe -- the OECD is warning that the risk of severe recession in the eurozone is rising.
It cut the outlook for growth there indicating contraction now.
A point 1% for the year the previous forecast was for growth of point 2% but stocks there are also.
Holding on -- positive territory London's up by seventy -- is up.
By almost 42 and Frankfurt's -- -- 74 now let's take a closer look.
At what's moving those markets -- board dot com research director Kathleen Brooks over in London.
Kathleen French president fronts while -- says he'll push for jointly issued Euro zone government bonds.
When European leaders meet tomorrow to Germany is once again dismissing that idea what kind of problems could this create as all these leaders try to come up with a plan.
But sets -- a bit of a shakedown attorney Bronson Gemini -- -- -- go all the when he threatens very delicate stage of the financial prices.
You pretty under the cabinet about things about the condemning approximate -- thought they needed to be Europe and sunny day woman all humane or not agreeing on what the potential -- to -- -- the cities in today's crisis is.
And in a bit of irony you have the European Union presidents saying there should be no taboos when it comes a fundamental changes within the European Union.
Including more integrated system what are your thoughts on that idea.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You know it's fine to have you a different views that he's not really getting see you getting sick kind of this like Japanese and he'd -- -- Details we don't you read poems these -- if they've -- Michael does that she might get elected next sick.
That's capping -- live from London thanks Kathleen.
-- And US companies aren't the only ones looking to tap into this country's economic recovery Sweden's -- -- Is spending 100 million dollars to expand one of its North American plants located in -- -- Pennsylvania.
And that's where Fox Business is -- grade getting a firsthand look at that investment.
Robert described for us.
Well Diane thanks and let's that's right you do have a European company making a big bad.
-- what some analysts are calling an -- -- Renaissance here in the US tapping into an underutilized industrial base and also labor cost.
In the US many people don't realize -- are actually becoming very competitive against even emerging markets -- labor calls.
Really rising very rapidly know what they're making here.
Heavy construction equipment and you can look ever hear it received -- Europe soil contractors asked -- factors.
Road graders that we're gonna take a close look at inside an update but Purcell if you will.
In a little while on this but why the US what they're seeing the growth.
Really expanding here much more quickly than elsewhere in the world in fact we've seen construction equipment sales more than doubling since 2005 but.
The pace again much faster here in North America this is gonna be -- North American headquarters by the way.
You've seen by growth doubling more than doubling in the first quarter meanwhile China for the construction equipment actually contracted by a quarter.
Vs a year ago as we're gonna talk today it -- here including paddling he's the global chief executive.
For construction equipment we'll talk to him a little later this morning Diane.
Just about DO what the investment there making here why they see the growth continuing here in the states or some question about whether or not we're starting to stall.
Or perhaps -- contraction ahead we'll talk to him about not only what's going on here in the US but since he is a global CO also about the China growth story.
What's going on in Europe and how it affects their business all that's coming straight ahead on the Fox Business Network will be here all day and -- -- Pennsylvania Diane back to you.
-- -- -- -- -- -- -- -- Shares of FaceBook are down more than 2% in the premarket after it was reported that the lead underwriter on its IPO.
Deliver some bad news leading up to the offering now according to Reuters.
Morgan Stanley's consumer Internet analyst told major clients he -- reducing its revenue forecast for the social networking site.
That call followed Facebook's filing an amended prospectus with the SEC earlier this month it was the company itself expressed concern about revenue growth.
FaceBook cited a shift by users to mobile devices which are less lucrative for advertising.
And -- computer version to investors award -- of Morgan Stanley's outlook tell Reuters that may be what's fueling Facebook's weak stock performance.
Let's take a look at commodities now oil and gold have been down all morning announcing oil just about -- and 92 dollars a barrel gold goes down by about eight dollars.
At 1580 announce.
Imus in the morning continues right now on Fox Business giving you the -- across.
