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Czech Republic Helps Boost Euro Markets

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  • Description

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

  • Duration 5:09
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This is very.

Imus in the morning program on the fox -- -- -- things up with a look at the markets here in the US futures have been searching for direction this morning we're now seeing in NASDAQ.

And S&P.

Both in the -- Dow futures are still down by about three points 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 -- 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 quarter still markets in Europe are in the green across the board.

London's up by about thirty Paris is up by thirteen and -- up by eighteen now let's take a closer look at what's moving those markets with Commerzbank global equities economist.

Peter Dixon.

Over in London.

Peter good morning Europe is gaining some ground ahead of the year BAA the EU summit.

It doesn't seem like they're making much progress on middle ground here so why the optimism.

-- that question the I mean I guess the yet to walk to simply ignore the politics right now.

But I suppose that he -- taking -- -- -- view.

And looking at whether eurozone is -- to -- in the course of the next few years.

Then that perhaps market should be a taking a much more negative view because as you -- -- -- out there is no middle ground and it seems to me as though.

A number of European countries all taking sides on this particular debates which you know it's never -- a good sign to find common agreement.

On that note Spain's prime minister says he plans to call for measures at the summit to ease borrowing costs.

How likely is that past.

-- now you know who's gonna easy borrowing cost the ECB arm and the fact of the matter is these ECB has done an awful to already become -- -- -- the simple problem is that so we have -- a problem with regard to banks particularly in -- We have a problem with regards public -- ounces.

Under the we'll let solution to all all all problems in the -- -- as humans have consistently pointed out.

Is structural reform -- it's gonna take used to sheltering so I think those that calls for a low borrowing costs have been a full -- -- is quite frankly.

Right that's Peter Dixon live from London thanks so much Peter.

And we're getting earnings data from General Mills now the food companies reporting an adjusted profit of sixty cents a share beating the estimate.

For a 59 cents revenue four point one billion dollars came in line.

The estimate there was for four point 11 billion.

The company raises quarterly dividend by 8% yesterday as well we'll have more on that coming up meanwhile the city of Stockton California.

Is set to become the largest in the US to file for bankruptcy after mediation with its creditors failed last night.

The chapter nine filing could come as early as today officials say they were unable to strike a deal to close it -- -- six million dollar deficit for the fiscal year.

That begins Sunday the City Council has approved a special bankruptcy budget that stops all bond payments slashes employee health and retirement benefits.

And puts in place a data days survival budget Stockton which is home to nearly 300000.

Residents.

As that property taxes and other revenue decline while investments and generous retiree benefits have -- city coffers.

Apple has scored a legal victory after a judge ordered Samsung to stop selling its Galaxy Tab ten point one tablet in the US.

The judges weighing Apple's claims that Samsung illegally copied the design of the -- -- she says apple has made a strong case and its lawsuit will likely move forward.

In December the same judge declined to ban sales of galaxies ten point one but earlier this month the US Court of Appeals told to take another look at Apple's claims.

This is just the latest battle between apple and Samsung which are caught in a number of patent disputes over both Smartphones and tablets.

The European Union second highest court has reduced it 2008 fine against Microsoft the court which back -- antitrust ruling against the tech giant.

Lowered the penalty from one point 12 billion dollars to one point 07 billion.

The European Commission issued the fine which was a record at the time after Microsoft defied an antitrust decision issued in 2004.

And delayed providing information to make business easier for -- rebels.

Now let's get latest on weather from meteorologist Maria Molina and -- Fox Business that is that a little rain on the Lam Maria.

Yellow lettering on the way for people -- offered to north across the city of Boston for us here New York City we're gonna stay dry with a lot of sunshine and temperatures will actually be on the rise.

A big story crossing US today that heat wave across the center of the country that's gonna -- eastbound over the next several days.

Another story we've been talking about over the last several days is basically daddy who made landfall yesterday across.

Northern parts of the state of Florida.

At about 5 PM as a tropical storm it has weekend now just a tropical depression would maximum sustained winds.

A 35 miles per hour and is forecast to continue to quickly moved eastward at about ten miles per hour throughout the day today in should be exiting the state of Florida.

As we head into this afternoon so we're gonna start to see some improvement throughout the state of Florida otherwise -- heat -- -- and very hot out across in the country triple digits Kansas City and Dallas.

-- -- -- thanks so much for that.

Let's take a look at commodities now oil and -- -- mixed Imus in the morning continues right now on Fox Business.

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