Fox Business
Expand
Browse All Video
Watch Live

You're watching...

EU Manufacturing Data Impacting Global Markets

Details

  • Description

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

  • Duration 4:58
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

-- -- -- -- -- -- -- Good morning everyone the Federal Reserve -- up -- today meeting today and the Central Bank is expected to show it's ready to act to help get the economy started if needed but not actually launched.

Any new measures just yet economists say the Fed may extend its timeframe for keeping interest rates low beyond -- 2014.

Investors also -- chairman Ben Bernanke announces another round of bond purchases known as quantitative easing to push down long term interest rates but the Fed is expected to hold off.

On either move until September to see job growth and consumer spending pick up.

-- full coverage of the Fed's decision and the market's reaction starting at 2 PM eastern right here on Fox Business.

The decision is due to fifteen.

Checking markets now here in the US futures have been in the green across the board -- morning Dow futures are up by 38 the S&P is up by three in the nasdaq's up by eleven in Europe.

Contraction in UK manufacturing he'd been sharply in July also eurozone PMI.

In July hit the lowest level since June of 2009 stocks in Europe -- currently next.

London and Paris are both up at Frankfurt is -- down by about eleven points -- also getting earnings in from Comcast right now the cable television company.

Is reporting a profit of fifty cents a share beating the estimate for 47 cents.

Revenue came in at fifteen point two billion dollars -- that matched the estimate data on.

Now let's take a closer look at what's moving European markets at CMC markets analyst Brenda Kelly over in London.

-- eurozone manufacturing contracted for the eleventh straight month in July but I -- held.

Above fifty for the fifth straight month Howard that country been able to buck this trend.

Ten and well and send pretty much a very much a small economy -- -- -- break export led economy -- And in some respects the money arguing that the spot that we have got -- and foreign -- there that might be actually helping mask on one of them will be actually Google which has its headquarters in Dublin.

Some some respects it might actually be a little bit higher than what it actually should be if you discount.

And the -- known that companies would in now Ireland itself of course you look at the other side of the story you can still see that -- and unemployment rate remains at fourteen point 8% so in some ways it may seem a good enough bigger.

And parts of the rest the eurozone countries but that doesn't -- -- seem to be feeding got the real economy and -- -- that young people employment numbers.

I wanna come back to you -- but that's if you mark questions you can hold up for just 12 we just got earnings and up from Time Warner the media and entertainment companies reporting an adjusted profit of 59 cents a share that beat the estimate for 58 cents.

Revenue of six point seven billion dollars came in a little shy of the estimate for six point 94 billion.

We're also getting earnings in from Harley-Davidson.

Motorcycle maker is reporting a profit of one dollar seven cents -- meant there was for a dollar five cents.

Revenue came in at one point 73 billion dollars that beat the estimate for one point 63 billion.

And now let's go back over to Brenda Kelly Brenda thanks for -- hanging in there with me I wanna talk about Mario Monti -- the prime minister's pressing his European counterpart to sign on.

To collective action in the fight the eurozone credit to -- eurozone crisis and lower borrowing costs.

He -- especially trying to bridge in north's out to.

South divide here what are some of the obstacles.

That may prevent that agreement from happening.

I think there's one main obstacle I'm not as the Bundesbank and albeit that they interview that we saw from -- -- -- that we got was actually done at the end of June -- published on the 27 July.

That is pretty much told us that the Bundesbank but the you'll -- -- to -- cash.

That Mario Monti acts -- Mario drive each and doesn't actually go ahead any sort of bond pioneer reiterate their stance that they -- have.

A greater control they have that they're the most powerful sort of members are -- in the ECB.

Unplug ECB is considered independent he's the Bundesbank is something but he can't necessarily it nor ability just like -- -- did actually put pressure on the Euro.

At to some degree into the was discovered it was spot -- -- all the headlines but at the same time I don't expect that in the last six weeks that the -- spike -- changed their stance.

So -- he did say last week that he be -- -- is higher he did actually stay with in its Monday.

And of course the Monday that the ECB has not yet changed there will be no at obviously the Euro bonds are they actual issuance off joint bonds.

So I think in a -- what it likely is some sort of SMP program cost in conjunction with a rate decrease.

But us but -- same time I think it's more going to be a vocal sort of that stunts to buy some time for the ECB once again.

I'll be watching very closely to see what they do -- -- Brenda Kelly thanks so much for joining us.

And we're getting earnings and now from Avon.

On the Data Co.

as a putting an adjusted profit of twenty cents a share beating the estimate for 21 cents Imus in the morning continues right now on Fox Business.

Load More