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ECB Leaves Interest Rates Unchanged

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  • Description

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

  • Duration 5:07
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This is this Imus in the morning.

On the -- -- -- -- -- -- by taking a look at the markets here in the US features have been in the green across the board all morning.

They are off earlier highs but still up pretty sharply now up 95 for the Dow twelve for the S&P and 25 for the NASDAQ.

-- when -- at the ECB has left interest rates unchanged at 1%.

For the sixth straight month now meanwhile the UK market is back following the queen's jubilee holiday -- -- now up by 68 parents but it before and Frankfurt's up by 94 let's take a closer look at why with Dow Jones Newswires senior correspondent.

They -- things over in London -- -- -- -- -- -- -- -- -- -- -- at the end the were.

Still some people going into this -- that maybe ECB would do something on but you know having said that we've had the meeting we have not had a press conference.

And it is -- still possible that -- -- valued he's he's president.

Could announce something like you know further.

-- -- as long term bond financing operations on.

Into into the market so you know we'll really have to wait and see what he says.

In that press for press office before we are entirely.

Off that look at I mean it is it is quite -- because -- -- come back from not long holiday these markets have actually quite quiet.

On AFA dealings with the ECB to do but also because of that G-7 emergency call we had it.

That yesterday the feeling is have but that need be you know is Sunday several banks may start with.

Looking more towards easing.

-- we've seen the suggestions are coming out the Fed that was Wall Street Journal story today suggested that the Fed might be moving towards monetary easing -- the reserve bank of Australia.

Actually -- rates and that it yesterday.

On.

And I think that might be lending a little bit have helped it to 22 sentiment -- the moment.

And -- another plan being thrown into the mix here the European Commission is set.

To put a proposal out today to basically force losses from failed banks on to shareholders in hopes to protect thing.

Protecting the taxpayers what's your take on that and how likely is it to pass.

-- -- -- You know I mean I think at the moment something like that is really just get it.

-- -- -- quite rapidly I mean we'll be seeing these C commission yes try to protect taxpayers but let's face it this date the gain.

On I don't think anything like we'd -- I think this this is what's urgency up.

At least seeing that Spain has basically admitted you know that it's -- a terrible -- that its banks do need to capitalizing.

They're talking about forty billion euros of it was just it could be double that at least a -- waiting to find out on.

Where is that money gonna come from the shareholders on the it is I think about -- -- problematic -- think it's that it was -- -- Depend very much on -- countries like Germany are -- out at saving them stated today.

And even if it does as -- -- be too late to help Spain anyways they're gonna need to come up with some other plan good luck to them on that hurt.

Think they cannot easily -- months we love it out this as usual great active.

It's.

At a short.

Now we got earnings in from brown Foreman -- spirits maker known for its Jack Daniels and in -- of vodka brands is reporting a profit.

Of 73 cents a share that missed the estimate of 76 cents revenue of 801 million dollars was also short.

Yes meant there was for 804 million.

The NASDAQ is expected to announce a settlement with investors today over technical glitches surrounding Facebook's IPO.

Sources tell fox business' Charlie Gasparino that the deal will be somewhere between.

Thirteen and thirty million dollars nowhere near the more than 100 million an estimated losses.

The exchange suffered problems during Facebook's may eighteenth market debut and -- -- traded.

Delayed trading by thirty minutes which -- brokers with millions of shares.

Worth of unconfirmed trades and the firms didn't learn the results of those orders until more than two hours after the stock opened.

Since its debut Facebook's stock -- -- more than 30% with shares dipping nearly 4% just yesterday.

And now let's get the latest on weather from meteorologist Maria Molina and our Fox Business weather center hi -- -- He good morning day and I again and today we're going to be seeing against -- shatter thousands scattered showers and thunderstorms out across northeast so grab the umbrella you meaning you them especially -- -- in the later afternoon hours for New York City and Philadelphia temperatures will be a little bit warmer today.

And they were yesterday and also on Monday making -- the low seventies.

In New York City this afternoon but as he -- south where we will see also some showers and storms in the Carolinas to Florida and also.

Parts of the southeast Atlanta Georgia -- you guys should be fine you're expecting some sunshine.

High temperature very pleasant that eighty degrees C -- north.

-- that activity Great Lakes another nice day sunshine temperatures a little bit warmer today in the upper seventies for Chicago and -- -- Stand.

Thanks area.

Let's take a quick look at commodities oil in -- -- Imus in the morning continues right now.

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