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Florida Preparing for Tropical Storm Isaac Ahead of RNC

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    FBN’s Dagen McDowell breaks down the stories moving the markets.

  • Duration 8:52
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Take a look at your markets around the globe to Asia first losses across the board -- -- -- more -- Down down -- out of the losses aren't as severe as what you saw in -- but not losses of about half of 1%.

Here's features are also lower 115 point loss on the Dow yesterday and no happiness not at least not now not this morning.

And oil and gold are both down as well for more on the European markets -- go to.

London where -- joined by John Randolph director of sovereign risk for -- HS global insight.

Got -- -- following the comments coming out of that meeting between marvelous Maris in Berlin this morning.

Yeah I mean a major decision isn't to be expected there from uncle she -- Clear that she will wait for Detroit -- poll which -- exceed -- another month yet own actual performance.

Some us the great -- will make the case about more time -- another two years and and -- this is this is not really the sticking point gently gently it is are you serious about reform and that is that is the easy for them.

She -- and it.

And I'm just I'm gonna make I'm very -- what I asked you about that about that -- expression on your face was like.

And it's just -- -- -- him.

But not updated that so that's what the Fed your face related -- -- need to set ended that in the business goes on and on in the Paula Newton on.

I think we -- appreciate that this is you're paying crisis that we don't have a you're -- government -- we're bound to have all these meetings and summits.

-- -- is sort of a replacement for four European government basically.

And they are trying to manage these thing manage it managing things together on on from summit summit from meeting to meeting not the way what's on the European political.

And very much so there's -- poll that Reuters did all -- a fixed income strategist about the likelihood that the ECB would.

-- capped the rates on sovereign debt and on Spain and in Italy and most of them voted on voted I say it.

Holden said they didn't think the ECB would take that step do you fall into that camp non.

-- I think the ECB will not nominate a specific figure out like.

Full percent -- cap full -- and 3% for if you whatever.

A because that's setting themselves up as a target to speculators and whatever.

-- calls these -- contained unit there's.

An improvement.

In the economy the reform progress than these -- Should come down -- in line with fundamentals or they could be a deterioration unity Spanish and the timing governments the you know may may may make -- make failed to get things together and the yields should deserved -- -- -- so that an anomaly a specific -- -- John thanks for being here is great to see you don't just given -- our job is just you made my morning thanking god.

And we're getting earnings from Madison Square Garden Canadian sports company out with a profit of 37 cents topping the 22 cent -- -- Revenue came in at 332.

Point nine million dollars also beat estimate was for 277.

Point one million dollars.

And now for a closer look at the US markets we are joined by Dennis -- from our -- -- -- and that's.

Stocks are in a funk and for that you can blame the Fed's muddled message will -- bullet -- new moves to juice up a flat economy.

The feds meeting minutes made actually look more likely then fed never James Bullard said that view was stale.

And then another fed head said new moves would be beneficial when in doubt sell.

And anti Obama billionaire one of the cook Brothers known for funding to Tea Party has riled his Colorado neighbors.

With plans to build a replica of a wild west town.

With fifty buildings are 21 room mansion and its own saloon pokey and train station.

Some neighbors opposed William cook's proposal.

For a land swap with federal preserve involving up to 2800 acres to better insulate is kowtowing keep it private.

But cook says -- wild west remake it for friends and families only.

No outsiders allowed.

And a federal jury in California begins a second day of deliberations and Apple's patent lawsuit against Samsung.

But the real what are already is clear.

The lawyers.

Who -- billing both companies up to 12100 dollars an hour for legal fees.

And South Korea a -- just ruled in a separate case that apple and Samsung violated each other's patents on older phones.

And -- order penalties.

Against both giants.

In California.

Jurors could take a while to decide the case they must wait to an eighteen page questionnaire with 300 boxes and fields.

To get to a verdict.

And New York I'm Dennis -- Thank you Dennis and more business headlines for you this morning while the markets wait for another round of potential bond buying from the veterans are.

And the former Massachusetts governor Mitt Romney doesn't think it will help the economy.

In an exclusive interview with Fox Business there -- presumptive Republican presidential nominate says he doesn't think.

That the second round of quantitative easing -- bond buying was terribly effective.

And another round could set us up for -- potential inflation down the road and may be harmful to the value of the dollar.

Romney also says he would replace Federal Reserve Chairman Ben Bernanke when his current term expires in January 24 -- Well I always listen to people have counsel and advice but my view has -- that.

I would want -- select someone who it was a new member.

Should be a new person -- that chairman.

Chairman's position someone who shared by economic views that.

-- thought was sympathetic to the needs of our of our nation.

And I wanna make sure that they that the Federal Reserve focuses on maintaining.

The monetary stability and that leads to a strong dollar.

Meanwhile the race for the White House and a virtual tie and new Fox News poll shows that 45%.

Of those polled as likely voters would vote for Mitt Romney 44%.

-- for President Obama.

And we have so much more coming up everybody may and -- man sit down with KT McFarland.

Is coming up we want to check on shares of it loud low -- their trading higher in pre market after the company said its alzheimer's drug.

Didn't meet primary goals in either of two trials.

Lilly says data from both trials showed signs that the drugs slowed cognitive decline overall in patients.

With mild to moderate cases of the ailment.

The company says it will determine the next steps for the drug after talks with regulators.

Mr.

Myers Squibb says it will take -- one point eight billion dollar charge as a result of his decision to stop work on experimental hepatitis C drug.

The company made the decision after one patient died and testing eight others were hospitalized.

Bristol-Myers says it doesn't exactly know what caused the patience to become -- -- heart and kidney toxicity were key factors the company says it's working closely with the Food and Drug Administration to monitor patients involved in the study.

Mr.

Myers has been pushing to become a player and hepatitis C drug market which is expected to grow as baby boomers get older.

Tropical storm Isaac continuing its march across the Caribbean as forecasters here in the US try to figure out where that storm might make landfall.

Fox News meteorologist Rick Reichmuth has more.

Tropical storm I music moving toward the Dominican Republic and Haiti.

About 400000.

People are still living in settlement camps in Haiti after that massive earthquake that hit the country in 2010.

Don't have asked -- -- -- -- As I think -- Cuba military officials that the US base in Guantanamo Bay.

Canceled pretrial hearings for five prisoners charged in the 9/11 attacks.

The tropical storm also posing a threat to the Republican National Convention.

The storm is now projected to be just off the coast of Florida as a hurricane by Monday.

This afternoon and -- speak to governor Romney let you know where the state was with regard to this -- Tropical storm gave him.

Assurance that this days is Steve did but -- -- with hurricanes in the past we know how to deal with hurricanes were ready.

The state has not been hit by major hurricane since 2005.

Many business owners in Florida now bracing for the storm.

We're probably gonna lose a lot with all the restaurants people are gonna come -- -- all the bars you are gonna come down were going to be losing rentals.

In addition -- tropical storm Joyce formed over the open Atlantic today.

But the tenth named storm of the Atlantic hurricane season does not pose a threat to the US.

In New York I'm meteorologist -- right.

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