Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Markets Hampered By Fed Minutes

Details

  • Description

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

  • Duration 5:06
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

This is -- Imus in the morning.

On the Fox Business.

Good morning everyone markets around the world are under pressure right now after the latest fed minutes showed policy makers are discussing stimulus measures.

But gave no indication as to when they might take action there also concerns in Asia after the Bank of Korea cut interest rates and I had -- tomorrow's Chinese GDP report.

Meanwhile Barclays cut its forecast for second quarter US real GDP to one point 5% from 2.5 percent and you can see futures.

Are down across the board Dow futures are down by 82 the S and he's down ten and the nasdaq's down about fifteen.

Over in -- growth issues -- hanging over the markets there.

We've also seen red arrows across the board all morning for London Paris and Frankfurt let's take a closer look at what's moving those markets with -- stuck on chief economist bill -- -- Over in London.

-- stocks in Europe are down but the bottom markets are com both Spanish and Italian ten year yields were down today so she tested clean some confidence from that at least.

I think two things we have to look at the bond market is a safe haven buying also the simple fact is.

We sought all time low yesterday in the ten year bund and the ten year treasury a nine year low in the side you JGB so at least one thing we're looking that is safe haven buying an absolutely.

Zero inflation globally.

And here in the US bill -- -- -- jobless claims numbers the bottom of the hour how close -- European investors watching that and what are they hoping to -- come out of this report.

Well.

They're very much so died as we discussed last week the concerns for me in last week's nonfarm payroll seek only increase -- -- always in.

Temporary hiring and Alice plus forty -- -- -- that is a very very discouraging number we have the forty cents first consecutive month above 8% and that is surely -- the market's looking at because we got quote.

No direction from the -- reserve as they said options open hopefully next week -- the all hoping Hawkins testimony on Tuesday and Wednesday.

Bernanke can clarified but it really is -- situation is the market is looking for.

Any positive hope we're not getting it from Asia we're not getting it from the year is out hopefully.

Hopefully -- -- rather than laid -- we may get that big bazooka from mr.

Bernanke.

And I will be a big busy even though -- will get the jobless number at the bottom of the hour and billed as usual haven't.

At 8:30 eastern missing is across -- thanks bill -- back from London always great having -- And as we were just discussing that bill we're set to get several pieces of economic data out.

At the bottom of the hour including of course those jobless claims 372000.

People are expected to -- filed for first time jobless benefits last week that would be down slightly.

From the prior week we'll also get a look at import and export prices for June import prices.

Are expected to shrink by one point 7% last month from may when prices fell 1% X -- prices are expected to -- fallen by point 3%.

After falling point 4% in the previous month we'll have all those those numbers as I mentioned at 8:30 eastern time as soon as they crossed.

Head -- that the Federal Reserve will release documents tomorrow.

That it says will offer more insight into what the Fed Bank of New York did to identify problems with Interbank lending rates during the financial crisis.

The release comes at some in congress question whether the New York fed then let.

By Treasury Secretary Timothy Geithner.

Knew that certain banks were manipulating Libor in 2007 and 2008 and whether it should have taken more action.

-- influences rates and a number of consumer products including mortgages student loans and credit -- so this affects a wide range of people.

Bob Diamond former CEO -- Barclays which is in the center of the rate fixing scandal told British parliament the bank repeatedly raised concerns about the financial crisis is impact.

On Libor with a New York fed which -- getting reports on that problem in 2007.

Meanwhile a number of state attorneys general say they've started preliminary talks to determine what kind of impact Libor issues may have had in their states.

The CME group says farmers and ranchers -- assets tied to the collapse of peregrine financial group.

We'll be able to access an insurance fund set up in the wake of MF global downfall the exchange operators has clients who suffered losses from the futures -- -- bankruptcy.

We'll be able to axis of the 25000 dollars per account.

Meanwhile Reuters is reporting.

Investigators are looking into why peregrine used a small accounting firm that appeared to work.

Out of the Chicago area home to audit its books experts tell Reuters that should have been a red flag to regulators.

And a plan to overturn president Obama's health care overall is headed to the senate the measure was approved in the house yesterday by a vote of 244 to 185.

With five Democrats voting to repeal the law the move which is expected to -- in the senate comes after the Supreme Court deemed most of the law constitutional last month.

The house has voted more than thirty times -- ended defund or undercut the loss since President Obama signed off on it.

In markets when he ten.

Here's a look at commodities now oil and gold are still there the downside Imus in the morning continues right now on fox --

Load More