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Futures Flat Ahead of Durable Goods Report

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

  • Duration 5:00
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-- -- -- -- -- -- -- -- Good morning everyone loves I think some with a look at the markets here in the US -- have been searching for direction this morning -- renouncing green arrows.

Across the board Dow futures are up by eight points.

Yes and he's up by two -- -- nasdaq's up by about three over in -- the Czech Republic's prime minister says his government has mandated him.

Not to accept any EU proposals for deeper integration in the region at tomorrow's summit.

Especially plans to create a banking union.

Meanwhile the bank of Spain says the country's economy will contract at a faster rate in the second quarter than in the first -- there -- also in the green across the board.

London's up by 36 Paris is -- by nineteen and Frankfurt's up by 31.

Meanwhile investors around the world of keeping a close eye on Europe ahead of that EU summit and Fox Business -- -- Webster's in Brussels.

Tracking the latest for us there good morning actually we got forests.

-- morning Diane well you know what -- expectations.

Coming into these summits seem to become lower and lower no matter what the EU leaders saying about it's a summit to save the Euro the eurozone.

And the latest quote this is a defining moments in a European integration but as you just said -- -- Czech Republic president saying being sent to a Brussels where they don't accept -- deep integration.

It is very difficult for these countries these member countries especially those that use the Euro.

To agree on anything however that said they will be discussing this so called ten year plan put forward by.

The leaders of the major commissions and councils of the European Union.

That would include common bank supervision this is one that's -- kicked around for awhile.

Back home and bank supervision could be under the title of the ECB will have to wait and see -- A possible.

Road forward the EU wide deposit insurance this is -- Liability now.

-- -- mine and he -- -- not in my lifetime is a translation that really kind of tells you where the -- German.

Mentality is coming into this so some very thorny issues to decide -- -- The creation of a single huge European treasury you mentioned Spain -- they will come here are asking the EU to try and stabilize the financial markets the Spanish prime minister.

Telling me his parliament that look we simply cannot afford to finance ourselves right now because of the risk.

And the amounts of interest we're having to pay on -- so much to do.

And yet the -- starting to -- a little that this European summit yet again will be able to come up with any concrete moves the -- here.

Following it all every step of the way -- kicks off in earnest tomorrow Diane.

And we very much appreciate that Ashley thanks some months.

Let's take a closer look now what's moving those markets at markets dot com chief economist bill who Barton over in London.

Bill you heard actually talking about the division their German Chancellor Angela Merkel and it pretty clear yesterday she's dead set against common eurozone bonds but she does seem willing to budge.

-- being more flexible with the rescue funds to help banks so what do you make of that.

Well that's the key thing -- the simple fact is you know -- actually so succinctly said.

I think it was translated over my dead body but it changes that we've got to expand the funds here and I think what is -- thinks a look at that is actually -- so execs -- again.

I've never heard it.

Any body how many going into any of these this with zero expectations.

But I think one of the things to look at it against me next Thursday got a expect the ECB to try operates another 25 basis points but the key here could be the deposit rate they could -- Actually -- dropped enterprise rate.

To zero so if nothing yet eight comes out of Temares Friday's meeting I ever expected the European Central Bank to start doing something -- but what are the things again actually had mentioned where we -- we do not have ten EPS to look at something like this -- -- and quickly again it's gonna be total zero.

Called and -- you have footprint Tut exhibition but the simple fact is -- ECB looks like they will stop taking control here right yeah and is Angela Merkel and everybody else ought to agree it will have to increase the size.

All the sizing is of the bailout finds.

All right we'll see if they can make that happen bill thanks so much the announcement is great having you on.

And they're getting earnings -- from Monsanto now the agricultural company is reporting an adjusted profit.

Of a dollar 63 cents a share that beat the estimate for a dollar sixty revenue four point 22 billion dollars also -- the estimate for -- billion.

Here's a look at commodities now oil and gold we're searching for direction our earlier this morning -- oil now up.

By about three cents gold is down by about three dollars Imus in the morning continues right now on Fox Business.

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