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Eurozone GDP Falls 0.2%

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  • Description

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

  • Duration 4:55
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Deprive -- of the morning.

I'm on the phone -- Morning everyone it's time take a look at the markets and we're seeing green arrows across the board this morning.

Both here in the US and in Europe vacancy futures -- each is currently up by 22.

In Europe's second quarter eurozone GDP contracted by point 2% as expected.

While Germany and France reported better than expected figures for their own economies.

Also German survey of economic expectations.

Fell for the fourth month in a row.

To its global lowest level.

Since last December but stocks in Europe still up across -- -- London's up by about 2.2 -- up by thirteen and -- up by 53.

Let's take a closer look now what's moving those markets with BGC partner -- market analyst Louise Cooper.

In London Louise in France economy saw its third straight quarter a zero growth during the second quarter.

What can the president -- due to get growth growing in the Euro zone's second largest economy.

Well the problem false wall long -- inflation -- in -- a lot of what he can now.

But would -- reversing some of -- very limited reforms that -- Casey made to the economy.

And say -- has lost pets to miss its lost relative productivity.

Of those the -- wow I've proposed a trying to -- that thousands of jobs and it's we can't just highlights the problems for the entire country that.

All -- for the time being has got the benefits of the -- what's life via.

It's the position he will be in one's fox slips into recession that's not what most economists awful -- thing.

But -- three -- is nine months and no growth whatsoever.

The likelihood is that -- stuff to see -- negative.

GDP numbers which.

It means that it it to be in a recession.

And -- Greece's economy tracked more than 6%.

In the second quarter that was somehow better than expected but.

How does this affect the country as they try to make more cuts to save the bail out what and what does this it was this mean for its austerity efforts overall.

So Greece is now -- it.

It's fifteen you all of recession and a six point 2% -- -- -- contraction is.

If a major depression -- by -- -- -- found -- I think Greece was sort of markets and ignoring Greece for the time being because the troika has delayed its much wanted to report on grief until mid September.

And so for the time being opposite just say okay you know all the politicians way.

We'll wait seeing what Marion tracking says from the ECB has just whitening and it -- in July holidays.

Focus will be very quiet and wait and see what what we see coming back in September of that troika report is going to be looked up every country that's been.

More a more criticism in the press.

By the IMF I'm from Germany that Greece is by using to meet its targets.

-- at Louise -- from BDC markets.

In London thankfully.

And we're getting earnings in from Michael -- a designer and retailer reporting a profit of 34 cents a share beating the estimate for twenty cents.

Revenue came in at 414.

Point nine million dollars also beat -- yesterday it was for 368.

Million.

We're set to get several pieces of economic data today as well including the latest gauge -- America's small businesses.

We'll get the National Federation of Independent Businesses small business optimism index for July.

At 7:30 eastern time the index fell three points in June to 91 point four.

At 830 will get retail sales figures for July those are expected to rise by point 3% from June.

Take out the -- component and sales are expected to rise point 4%.

-- to get the reading on producer prices for July those are expected to have ticked up point 2% last month from June the so called core index which factors out food and energy.

Is also expected to climb point 2% will have all those numbers for you.

Of course as soon as they cross.

Home Depot's latest quarterly earnings top forecast -- the company raised its earnings guidance for fiscal 2012 the biggest home improvement retailer reported second quarter profit.

Of one dollar one cent a share.

Four cents above the estimate.

Revenue rose one point 7% from a year ago to twenty point six billion dollars -- back in the short of the forecast for two point point 74 billion.

On depot now expects 2012 earnings to -- -- at two dollars 95 cents a share that includes stock repurchases.

The estimate is for two dollars 92 cents the company also confirmed it expects sales to grow four point 6% from 2011.

Here's a look at commodities oil and gold both up oil's up by twenty cents nineteen dollars a barrel gold is up little more than a dollar at 1613 announced.

Coming up this -- -- his guests will be comedian and civil rights activist Dick Gregory.

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

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