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U.S. Foreclosures Rise 6%

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  • Description

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

  • Duration 4:59
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This is -- Imus in the morning.

On the fox.

Love acting -- with a look at the markets stocks in Asia and -- higher across the board after Chinese inflation slowed.

In July 21 point 8%.

That's raising optimism that Beijing has more room to cut interest rates or take other steps to sharp economic growth.

Meanwhile the Japanese in central and south Korean Central Bank left their key interest rates and change you can see the Cosby.

And the day ended the day almost up 2% here in the US futures have been fairly flat this morning announcing a mixed market with the Dow.

And the S&P slightly down the nasdaq's up by three points.

And in Europe a similar pictures stocks have been searching for direction this morning after ECB forecasters cut euros on growth forecast.

For this year and next that we're seeing red arrows across the board.

Building -- London's down by four Paris is down by about ten Frankfurt's found.

By about 52 let's take a closer look now at what's moving those markets with we'll head -- market analyst at IG markets over in London.

Will act and the UK today -- trade deficit has widened due to a surprisingly sharp drop in exports how is this for the UK and the region especially given George Osborne's goal of an export led recovery.

This went on it isn't it's incredibly bad and it's another disappointing figure for our economy -- -- -- trying to I suggested that the effects of these that the jubilee weekend and and the -- about that.

Lots of -- -- -- -- factories etc.

delivering stuff out of the canyon is to blame him.

We can't even put this one down for years and cross is missing sneaking into the figures the -- -- of the -- -- as to yourself so there in the US are.

Again it's not a good -- states if -- carry on it like you said comes on the back of which also looking for an export led recovery I don't DS faced Thanksgiving and -- pushing down expectations for the UK economy.

And well -- is this another -- is forgotten about the UK economy recently what does it do for the prospects.

Of the UK leaving the European Union former prime minister Tony Blair -- just recently he's deeply worried.

That that'll happen if power keeps getting shipped over to Brussels what do you think.

I'm not much of the two related intensively the membership of the year area -- -- European Union.

It's always a hotly debated topic here in the UK that there -- lots of people who always been against -- will continue to.

To begin CNN there and there's still.

Now the size of the story he wants is to remain I think.

It's something that the government of towards the offering a referendum home haven't -- any tonne on minute.

-- on all -- Evident among I think it's still some -- -- for some sort of thing we would see in the coming in the coming months or even India will -- it is -- -- caught me.

I debates -- thing especially around election time.

All right that's well ahead in an IG markets over London thanks them.

We're getting earnings in now from -- the retailers reporting a profit of one dollar a share beating the estimate for 96 cents.

Revenue came in at four point two billion dollars that was a slight -- as well the estimate there was for four point 22 billion.

Meanwhile standard chartered reportedly is looking into a possible lawsuit against the New York regulator that accusing British bank.

-- being involved in money laundering for Iran London's Financial Times reported the bank CEO Peter sands.

Refused to comment on possible legal action but.

He acknowledged that the company's reputation has been damaged according to people close to the bank it's legal advisors believe there is the case reclaiming reputation -- damage.

-- State Department.

A financial services accused the bank of exposing the US banking system to terrorists by helping Iran laundered 250 billion dollars into the US.

From 2001 to 2007.

Standard chartered denies those allegations.

Shares are using are down 2% in premarket trading after that company announced the resignation of its chief operating officer John choppered.

The socially games maker recently took away some of -- responsibilities.

Following the release of disappointing quarterly results last month which caused the company's stock to tank.

-- has yet to name a replacement for Shepperd who was hired.

From competitor electronic arts in May of last year but the companies now trying to revamp its business by focusing on making games for mobile phones.

And tablets instead of just making them for FaceBook.

The number of -- facing foreclosure rose 6% in July from a year ago that's according to realty track which says lenders tackle the backlog of unpaid mortgages.

Even as they repossessed fewer homes filings of initial default notices the first step in the disclosed disclosure process.

Have increased at an annual basis of three straight months.

Part of the reason for that is banks have been trying to catch up for time lost last year.

In the mortgage lending industry had to deal with charges -- -- processed foreclosures.

Without verifying documents the country's biggest mortgage lenders reached 25 billion dollar settlement in February with state officials on -- Let's take a look at commodity -- oil and gold have been searching for direction today as well oil particularly bouncing around we see oil now up by seventeen cents gold is down by port.

Imus in the morning continues right now on Fox Business.

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