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China’s Factory Sector Contracts Again

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

  • Duration 4:41
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This is they.

Imus in the morning program on the Fox Business.

Good morning everyone stocks around the world are lower after investors were disappointed that the Fed expanded its Operation Twist program.

But -- no other steps to boost the US economy also HSBC's flash purchasing managers index showed that China's factory sector contracted.

For eight months 88 straight months in June here in the US -- down across the board.

London we're seeing Dow futures down by 31 the S and -- down by four.

The NASDAQ down by about six.

Over in Europe Spain option to greater than expected 2.2 billion euros worth -- to three.

And five year bonds but.

The call came in with an average yield higher than in private -- prior auctions also the yield on Spain's ten year -- -- six point 61%.

That's there are down across the board as you can see but now let's take a closer look at why without part -- senior market analyst James Hughes.

Over in London James we -- -- -- off more bonds than expected but again at a higher yield than before so what should investors make of this.

Well I think it's.

I get a it's good to be easy getting paid south and that that's the positive points to always if they -- There wasn't demand out of for the and then -- have a a bigger issue going forward so that the good thing is that helping -- out.

Opposed to the yields are always gonna go higher when you look at the situation is going on in the year assignment that that situations -- different hasn't been any different to what it was.

Almost two years ago so I mean there's no surprises CEOs going out was no surprise that tenure -- Is up but that's still around six point six that'll put of course is that why off of that does highs of around 7% that we were looking at earlier in the -- side.

I mean is good news and bad news in terms of base and and that's really mom's a little bit mixed on it to be perfectly honest and of course.

Although we are getting a reaction we are getting these picked up and getting pregnant -- out pretty well it doesn't necessarily -- to many of the the issues in the eurozone such.

Market don't get too excited about these anymore.

And -- James Angela Merkel is insisting now that an idea to allow bailout funds to buy Spanish and Italian debt.

Was purely theoretical that's a little different.

From what we heard earlier in the week so what do you make of this sort of clash now between Germany and some of these other EU countries.

I -- absolutely no surprise that we've got.

Members of the Euro -- high ranking members of the Euro -- disagreeing with each -- -- mean.

This is -- the issue while we've had such such a problem that -- this is such a long time because no one ever seems to be -- of those over the same -- -- -- -- always -- -- no one agrees with each -- and I don't think there's a better -- -- about things now.

There's always been the case is well within these euros and the one thing get said in -- almost get -- a few weeks lights are wrong side again.

The -- just just.

Get up on the suppose we see anything not based on the scene and see anyone disagree or someone changed their mind in the eurozone is a very sceptical views from every one on.

On what if anything and anger who says or any any leader says it was especially now in Greece this new.

Government anything I say always met with skepticism because we've been through this Sunday Times now and nothing he's going to.

Is nothing nothing has changed and it looks like nothing's gonna change in the -- haven't.

The big question might be a huge question ever want to exhaust Munis is how you sell -- and of course now and still doesn't announced that.

Not a fact that people don't think they can trust but they've they've probably doesn't help -- -- gains for that day here that I am loved Mario relented gave does great having on banks.

Thank you.

And we're getting quarterly results in from Rite Aid now the companies reporting a loss of three cents that's better than expected yes there was for an estimate loss of forced them.

Revenue of six point 47 billion dollars also beat the estimate for six point 42 billion.

And Philip Morris has cut its earnings outlook for 2012 the tobacco company now says it expects to report a full year profit.

A five dollars ten cents a share a five dollars twenty cents a share that's compared to the 520 to 530 -- -- company previously forecast.

It's also shy of the 523 Wall Street is looking for.

Philip -- -- movements in foreign exchange rates for the lowered outlook but.

The forecast is still up to a ten to 12% compared to twenty elevenths full year results.

Prosecuting close -- and the Supreme Court today because we could soon get the court's decision on the legality of president Obama's health care law.

If it -- digits handed down today Fox Business will be there to bring to you.

Here's a look at commodities now oil and gold are both to the downside -- down.

By about 86 cents -- -- eighty dollars a barrel gold down almost seventeen dollars -- 1598 announce coming up this our privacy guests will be Donald Trump.

Imus in the morning continues right now on Fox Business giving you -- how.

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