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FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.
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This is this Imus in the morning.
And upon -- Good morning everyone is fact check the markets in here in the US we have seen red arrows across the board all morning Dow futures are down by 38.
Yes and he's down by three almost four points there in the NASDAQ down a little more than three as well.
Been on -- -- a similar picture the bank giving them there cut its forecast for growth and Britain's economy saying its quarterly inflation report.
That growth in two years' time was likely be around 2% a year.
That's down sharply from the forecast of two point 67%.
Just three months ago as you can -- London's currently down -- 31.
Paris is down by 2.4 and -- down by about forty.
-- on New York's top banking regulators money laundering accusation against standard chartered has reportedly blind sided and -- the treasury and the Federal Reserve.
That's according to Reuters which says Benjamin -- -- order also complicates talks between treasury and standard charter.
To settle claims over the transactions.
The London based firm allegedly schemed with Iran to launder more than 250 billion dollars.
Over nearly ten years into the US in the past similar cases have usually been settled through negotiation.
With a minimum amount of public shaming but -- -- order was public.
And it said standard charters dealings -- the US banking system to terrorists drug traffickers and perhaps State's standard chartered says it was surprised by the order because it is talking.
With relevant US agencies honest.
Meanwhile getting earnings in from Macy's now the retailers reporting a profit of 67 cents a share beating the estimate for 64 cents revenue came in at six point 12 billion dollars.
Just beating the estimate there for six point one billion.
Not -- great -- for Morgan Stanley though it looks like another cost cutting move could be on the way at the bank.
It's reportedly looking at closing brokerage offices laying off support staff and requiring some branch managers to bring in revenue as advisors.
Last week the firm cut the number of regions in its Morgan Stanley Smith Barney brokerage to twelve eliminating four manager jobs.
Morgan Stanley controls -- joint venture with Citigroup.
That's not clear how many jobs will be cut but a source says -- 100 offices could be closed.
A Morgan Stanley spokeswoman declined to comment.
Shares of Knight capital -- higher in the pre market after NYSE Euronext said the firm will resume its market making duties come Monday.
And I -- temporarily transfer those responsibility to get -- another market making.
Making firm excuse -- which help bail out.
Night after that software glitch last week caused a massive trading -- that brought the company to its knees.
Get tell along with a number of other financial firms provided 400 million dollars in emergency financing.
Investor group -- 73%.
Of Knight capital.
Americans are doing a better job when it comes to paying their mortgages on time.
According to report from Trans Union.
Five point 49% of the nation's mortgage holders were more than sixty days late on their payments that the lowest level since the first quarter of 2009.
The news coincides with an improving outlook for the housing market home prices rose more than 2% from April to may the second increase.
After seven months of flat or declining readings.
Still the percentage of unpaid mortgages is not likely to return to where was before the housing market crashed anytime soon.
A -- a closer look now at what's moving these markets with Josh Raymond chief market strategist.
At city index over in London who's joining us by phone just like so many other days Europe is in focus this morning in the below we particularly.
Is saying Britain's economy will barely grow this year may have taken a bigger hit from the debt crisis and -- but.
It doesn't seem to be in any rush to pour more stimulus into that economy why is that.
But try and development funny disappointing and her -- in my thinking because the market with our control additional PS Bradley.
An indication of more content coming from different.
-- -- -- -- -- -- -- The looking at all the -- what leadership tribal announcing we're looking -- -- -- plot which it blows smoke -- not look.
Our expedition here they're predicting -- inflation as well -- like.
None of that region Russia deposit on the -- -- remembered what I can increase our discussion of and he didn't get tackled by -- and which -- a disappointment.
Didn't exactly rule it out -- they did say if the bank does provide further help though it would come give more money printing rather than cutting interest rates I wonder why that distinction is that just because.
There's not much room left to go with the interest rates.
Says that about family you can look at interest rates Katerina is -- about how much different -- -- mentioning the -- -- they're already pretty very.
A lot of variables on this when you get an aggressive interest -- -- -- Christine.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- That we should occur -- are based on income of the -- and how much are different and our security right about the little debatable saint.
That's why I'm looking to -- are up but he refrained from and how much better -- cut coming.
Thanks so much -- Josh Raymond from city index thanks Josh oil and gold are down Imus in the morning continues right now.
Ladies and --
