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Nokia Laying off Another 10,000 Employees

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    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 5:06
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Imus in the morning.

-- on the Fox Business.

Well let's start things -- by taking a look at the markets after yesterday's decline US futures are now in the green across the board.

Dow futures are up by 32 the S and -- up by about four in the nasdaq's up by five.

Over in Europe Spanish bond yields hit 7%.

Following downgrades by Moody's and Fitch.

Italy's borrowing costs also soared this morning as a three year bond auction brought in -- yield.

A five point 3% compared to three point 91 previously.

Markets there are in the -- class crossed the -- -- -- -- closer look.

And why now with the European markets.

IG index market analyst Chris -- Over in London -- every secretary Timothy Geithner spoke on -- last night he basically said.

Of the eurozone have to do more to stop this debt crisis what kind of reaction is he receiving over there.

Coming don't seem that much and actually listening his comments will be companies is years -- means -- -- -- to solve the debt crisis.

But really the focus and usually has been that Italian bond auction no set -- an -- -- In Spanish and Italian -- -- -- -- these two countries seem to be edging closer and -- be paid by an out of this.

And -- Chris Slovakia's prime minister -- -- -- -- -- than ever to grace.

That prime minister came on on -- -- Greece should quit the euros down if it doesn't want to honor its end of the bail out treatment look.

The support in that side of the argument -- -- keep hearing back and forth how important it is.

For Greece to stay in or that they could -- in the eurozone would be -- what's your take on that.

Hello this is the beginning may be of -- general feeling amongst the smallest -- years and increase its of getting away with it Scot free and -- if it doesn't live up to its commitments it should be -- the currencies of Slovakia and -- -- -- is probably.

Wanna go to money is getting into the country the -- to be getting his act together and of this financing needs to be worried.

That -- that we'll make a difference often know compared to what's happening in Greece in the other countries and that.

Really -- -- it doesn't do as its total should the public currency.

So how closely and everybody watching this election this weekend how closely that tied into this whole debate.

I think really it is the key moment and it went -- on this is -- waiting in limbo for this election result we shall see you have Monday morning we just don't know at the moment there was a brief rally.

This morning when we thought the pro fed up parties might they have to take connection but -- no real opposed to go on it seems that will just waiting until Monday morning.

That's Chris -- him live from London that I do market thanks -- continues.

Packs.

And Nokia said -- slashing another 101000 jobs and shutting down -- only plant its home country of Finland.

The move brings total job cuts and CEO Stephen Elop to control in 2010 to 40000.

The company says it's looking to return to profitable growth by improving its operating model but Nokia warned that second quarter losses from its cell phone unit will be bigger than expected.

Shares of Nokia have fallen more than 70% since it announced in February of last year.

It was dropping its own operating system for its phones in favor of Microsoft's windows system shares are already lower in the premarket.

We -- several recent economic data coming our way this morning including the latest look at the labor market.

375000.

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

-- down slightly from the prior week.

We'll also get a look at prices that were paying at the stores consumer prices -- -- Are expected to dip by point 2% compared to April what they want unchanged.

AV take out the volatile food and energy aspect the core CPI is expected to climb.

By point 2% the same as the prior month and we'll have all of those numbers are -- -- they cross at 8:30 eastern time.

Meanwhile President Obama is set to make his first economic speech in the general election campaign today.

The president will be in the key battleground state of Ohio -- compare his plan to create jobs to that of the Republican presidential candidate -- Mitt Romney.

The president isn't expected to unveil any new policy plans instead -- argue that the steps governor Romney wants to take aren't the type of actions that have made America great.

-- will be making a campaign appearance of his own in Ohio as well.

And it looks like banks -- re starting the foreclosure process according to data from realty track foreclosure starts rose 16%.

From a year ago.

After more than two years of declines the -- comes a month after 25 billion dollar settlement between major banks and states was formally approved.

That settlement was expected to get the foreclosure process back in action as many cases had been stopped over uncertainty about the bank's liability.

Here's a look at commodities now oil and gold are both in the green -- up by about seventeen cents at 82 dollars a barrel.

Gold is up by dollar forty at 1620 announced coming up this hour Imus is guests will be Mike Emanuel of Fox News.

Imus in the morning continues right now on Fox Business.

Giving you that -- across --

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