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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 very Imus in the morning from.
On the Fox Business.
Good morning -- let's start out with a look at the markets here in the US futures have been in the green -- most of the morning they'll fairly flat.
Dow futures are up by fifteen ES and over -- -- we got a surprise reading for German consumer sentiment showing it's set to improve in July.
Meanwhile Spain -- just over three billion euros of short term debt at the highest rate since November.
Also France's finance minister says he'll meet with fellow ministers from Italy Germany and Spain in Paris this evening.
Ahead of the EU summit at the end of the week stocks in Europe are now mixed with London up about five points the Paris and Frankfurt.
Are backing a red -- a closer look at what's moving the markets now -- -- -- is senior market analyst James Hughes over in London.
James Spain's short term debt climb to new highs again this morning.
At a country did just ask or is it putting a formally rough formal request for -- aid for its troubled banks.
What how that -- borrowing cost going forward.
With lies in -- push things up quotes that that's the worry that these things all always bring -- because of course you have.
These countries you need to need to borrow this money but of course the other Sunday easy does push these borrowing costs up.
I mean it we talk about -- -- ten people and you Angeles on -- -- the big headline number that everyone talks about getting close to 7% and the new wife and that 7%.
But he doesn't necessarily matter too much of course because.
These banks is still struggling they still need these this extra cash and it's likely that they gonna need more and I think this is the big worry the money that you have in the market is that whatever by that weekend -- of course we see -- -- -- Spanish banks around a hundred billion -- 115 billion.
Euros is always upbeat feeling that that's not enough there's not enough money sits about them -- of course that's the -- and that's what ends up driving these borrowing -- final the -- necessarily had Nevada.
But the fact that they could be more in the wings in the cubicle the other countries that -- -- bad that's the majority of them.
Especially Greece of course have needed that that.
That I -- form of stimulus as well amino austerity measures or whatever and I basically it says that's the issue that's what ends up pushing these soaring costs not.
-- -- -- get the money that -- the borrowing costs higher at the end of not being enough then what are the options at that point has.
To be too expensive for them to borrow anywhere else.
-- -- did the -- vicious circle that this.
This Euro zone crisis -- and I think the the biggest issue with the how the whole situation and we tend to bang on about it.
At bank to come of this of the time is that this has begun on the TVA's that's the first point and the second point is we have never -- in this situation before.
We don't know.
Whether that will be enough for Spanish banks we don't know if there will be enough austerity -- enough of a bad about the grace we just don't know how we keep hearing about these speak plans dying on of course who got.
EU finance ministers meeting out.
Which may be the umpteenth -- we've seen between finance ministers will be you get our hopes up that something's got to come out of -- it my summit where we can -- See these finance ministers or G-20 summit where over the leaders are gonna talk about how the eurozone is gonna come out is how we can about a mound -- the next steps -- But -- we never hear anything now that we never hear anything which is gonna solve these problems because the biggest issue is we don't know -- and that is the issue.
And does seem to be the common -- -- we don't know the you know you have more knowledge on this than most so we appreciate you sharing that with us as usual thanks -- Thank you.
And News Corp.
is reportedly thinking of splitting into two companies according to the Wall Street Journal the companies looking at a plan to separate its film and TV business is.
Was generate the welcome news corps profits from a slower growing newspaper book publishing and education divisions.
The paper says CEO Rupert Murdoch had initially opposed the move.
But as since warm to the idea still a final decision has not been made.
During an earnings call -- investors last month News Corp.
chief operating officer Chase Carey said management and the board discussed the idea but did not have plans to pursue it.
News Corp.
is the parent company about the Wall Street Journal and the Fox Business Network now let's get the latest on weather from meteorologist Maria Molina and our Fox Business by the senate -- Maria.
He good morning they -- to see this morning good morning everyone today we're tracking tropical status storm -- once again.
With a maximum sustained winds at 45 miles per hour so winds are relatively weak you could see some stronger -- and that.
But the big story with daddy really is the amount of rainfall that -- -- and are still expecting to see over the next 48 hours over northern parts of Florida between ten to twelve inches of rain have fallen from Apalachicola Florida.
As -- as Far East.
As Jacksonville and again expecting another foot of rain in that area as we mentioned later in the day on Wednesday -- early Thursday morning we expect landfall across northern parts of Florida and -- should remain a tropical storm during that time.
Before exiting into the Atlantic Ocean as we head into the weekend -- -- Maria thanks a lot of that let's take a look at commodities now oil and gold -- to the downside Imus in the morning continues right now.
