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Chinese Trade Data Pressuring Global Markets

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

  • Duration 4:42
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This is this Imus in the morning.

I'm on the fox goes.

Good morning everyone let's start things off with a live look at the markets that's -- -- ended the session mostly lower after China's trade surplus.

Unexpectedly narrowed in July exports barely grew from the year earlier.

And imports also increased at a smaller rate.

The Nikkei and Hang -- and Shanghai -- on the -- managed.

A small gain here in the US futures are up across the board Dow futures are up by 52 yes and -- down by six the nasdaq's down by -- Europe.

At worse than expected Chinese trade data is pressuring stocks checking the major indexes you can see those -- -- in a -- across the board.

London's down by eighteen Paris by about thirty and Frankfurt's down by forty let's say a closer look now what's moving those markets.

But mark priest head of index equity market making it ETX capital markets European stocks have had a nice run how important were these -- that -- China.

From what they're important and that some people were -- couldn't.

Further remarked we see some sort of slow rebound admitted in the -- economy.

Unfortunately we didn't.

There and you Debbie -- prisons that we might see you.

Some sort of -- and a bunch of restrictions and so on is very spiritual a lot of year on year.

About markets instill some sort of slumped.

Bounced back in our economy.

But again.

You know we're we've got a lot of told -- -- -- -- -- through -- governments -- that's what -- -- a little bit of -- today.

And what is -- -- other bright spots today when what do you think causes major downturn.

I'm -- approach closer wrong.

Scott managed Ross who does because they're takes roughly US.

We're cuts movers and -- from mount from -- which which weren't great.

The nervous about the sell below is her area forums are very large several respects and a little bit of as a subtle to current on.

For the rest of the very.

That's mark priest from ETX capital thanks mark.

Shares of Goldman Sachs were higher in extended trading after the Justice Department said it won't prosecute the investment bank for financial fraud.

Fox Business is Robert -- has details from our newsroom hi Robert Diane good morning that's right tag Goldman Sachs of course have been -- -- -- for.

For this fraud securities tied to the housing market for selling them at the same time that they were shorting these without telling their clients they were doing so betting that of course housing market.

What implode which indeed it did and setting up the credit crisis now prosecutors saying -- quote.

Based on the law and evidence as -- exist at this time there's not a viable basis to bring a criminal prosecution.

-- US attorney's office -- reviewed the case after the Goldman deals were faulted in -- senate panel's report just a year ago senator Carl Levin -- that investigation.

And had grilled Goldman's chief executive Lloyd Blankfein.

For hours and -- heated congressional hearing about the banks sales practices but -- -- the banks executives of misleading congress.

That investigation -- much of the blame for the credit crisis on Wall Street banks that package risky loans together and sold that.

Goldman tells Fox Business quote they are pleased that the matter is behind then.

In a separate matter Goldman paid 550 million dollars to settle a securities exchange commission lawsuit in 2010 and accused the firm of misleading investors in the sale of those securities that -- on sub prime -- of mortgages rather.

Former New York City mayor mayor Rudy Giuliani of course a former US attorney himself known for his white collar convictions.

-- he waited on the case and -- -- last night.

It may very well be.

That there was no justification for a prosecution of of Goldman Sachs but maybe there was no justification.

For harassing them to the extent that they underestimated.

-- shares of Goldman have been higher in after hours Goldman also announcing that the SEC has decided not to file suit against the firm over its role.

In selling one point three billion dollars in mortgage backed securities Diane back Korea -- that's Robert Gray in the newsroom thanks Robert.

JC Penney shares are lower in the pre market after the company reported an adjusted second quarter loss of 37 cents a share.

The estimate was for a loss of 25 cents.

Revenue of three billion dollars also missed the estimate for 3.2 billion same store sales for the quarter dropped 21% from a year ago.

That's the second straight quarter of severe sales losses for the company since changing its pricing strategy.

Let's take a look at commodities like the markets we've seen oil uncle down this morning -- -- down by little more than a dollar on 92 dollars a barrel.

Gold is down by eight bucks at 1611 announced.

Coming up this hour Imus is guests of the author Joanna Brooks Imus in the morning continues right now on Fox Business giving you the power to prosper.

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