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Futures Mixed Ahead of Monday’s Session

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  • Description

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

  • Duration 4:53
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Imus in the morning and.

Good morning everyone Treasury Secretary Timothy Geithner is in Germany today -- to meet with the German finance minister and the European central bank's Mario Draghi.

Following a series of pledges by leaders including Draghi to preserve the eurozone and do whatever it takes to do that.

Fox Business is that she Webster's and Frankfurt now with the very latest on all this morning actually.

-- good morning -- in fact Treasury Secretary Tim Geithner now on the ground in Germany he's in the resort island of silt.

And then dolce and northern Germany and then later on today he'll be flying down -- to Frankfurt to meet with the ECB president as -- say Mario -- -- You'd look we've felt contacted.

The Geithner campaign if you like and said what -- we expect they say do not expect any major policy announcements he just wanted to come and meet with some eurozone leaders we are told.

Just before Europe essentially goes on vacation for the month of August -- would imagine that -- He was un officials won't do that until they address what's going on with the debt crisis and more particular with a borrowing costs of both Italy and Spain.

So what options -- other European Central Bank had what can it do to try and bring back some sense of confidence at least.

To the bond market -- could.

Expand its bond buying program is already done this he could do it again it could just print more money and pump more money into the system by buying the bonds of these peripheral sovereign debt.

It could also cut the interest rate -- already at a very low three quarters of a percent cut it back down -- half of a cent.

But by all accounts is not gonna do a whole lot to a tackle the biggest issue at hand which again is the rising debt levels and how much is costing both Italy and Spain to borrow money.

Basic they could also provide cheap loans to banks -- the problem is as we've seen in the United States also.

The banks are not passing on the is just cheap money to consumers and businesses but as we know.

ECB president Mario Draghi promise that the ECB would act aggressively and do whatever it takes to preserve the Euro.

What does that mean there is a sense -- there's some behind the scenes com.

Coordination going on right now but we'll find out for sure when ECB meets this Thursday off to the Fed's meeting this week.

And will be making some sort of acts missed some sort of the announcement.

Which we hope at least the markets hope we'll have some significant financial firepower what have to wait and see -- -- indictment coming here I guess there's a show -- support.

I don't think he's coming here to tell them anything they don't already know in other words get Iraq -- -- -- you'll hurting the global economy so we shall see.

-- Tim -- here in Frankfurt's night and he would to meet.

It the European central bank's president Diane back to you.

-- an -- it would keep checking in with you on that thanks so much airport.

Let's take a look at the markets now here in the US we've seen red arrows across the board most of the morning we're now seeing in NASDAQ turning things around a little bit up by just -- point.

Dow futures and the S&P.

47 billion euros.

Of debt the yield on the five and ten year bonds though we're a little lowest we've seen since April and you -- markets in Europe are up across the board London's up by 37.

Paris is up by 21 and Frankfurt's up by an almost 63.

In the meantime we're getting -- and from Arrow Electronics to technology distributors reporting an adjusted profit of one dollar and eleven cents that missed the expectation for a dollar twelve.

Revenue came in at five point 15 billion dollars that was also a slight -- analysts were looking for five point 17 billion.

Let's go back over those European markets now in checking with IG markets trader will head in over in London to see.

What he thinks we should expect these markets will German Chancellor Angela Merkel and Italian prime minister Mario Monti have said they'll do everything possible to protect the Euro -- Basically echoing what the ECB president -- -- said as well but.

We keep -- analysts say they need -- -- and more action so what can you leaders do to back up these statements at this point.

But I think casual -- Hussein -- -- worries facing perhaps to him on Thursday was via ECB and announcements are we seeing the markets react pretty -- -- -- Merkel.

Analyst backing off or draw he said and -- well I think we'll just see that perhaps.

Keep these things going for a couple of dice rising mentioned I think says they were gonna wanna see some kind of -- that I -- actually we had market chances of these severe active in the bond markets and maybe that's what we.

We need to see -- of.

All right that's -- and from IG markets over London thanks -- Let's take a look at commodities -- oil and gold -- the markets dancing around a little bit this morning we're seeing them both to the downside we saw gold.

In positive territory little while ago but that is back in the red oil is now down by 36 cents around 8990 dollars a barrel.

Gold is down by little more than a dollar at 1621.

Announced.

Imus in the morning continues right now on Fox Business giving you the power to --

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