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Lennar Tops 3Q Estimates

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    FBN’s Robert Gray breaks down the stories moving the markets around the world.

  • Duration 5:07
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This is -- Imus in the morning programs -- number.

Is something.

Good morning I'm Robert -- let's check the markets this morning futures here in the US have been moving lower.

Volatile week in which all three major indexes fell for the first time in three weeks.

However in Europe there was a surprising drop in German business confidence for September.

Also answered about Spain's debt crisis remaining -- concern red.

We'll take a closer look at what's moving the European markets Jane Foley joining us now she's current C senior currency strategist at rob -- -- in London and it Jane aside from the EU baking union.

Weighing on the Euro crosses today.

-- that banks will be very seemed to catch this week is generally anyway in Europe have sent me this week it will get advice think.

That's what this week will of course be about Spain and what's gonna happen with respect to that banks -- -- for.

That's in stress test results from that from Spain probably Libya published until Friday -- -- At the Spanish banks will be getting the results today in and tomorrow says.

At banking will suddenly be very much on the on the full list of people's minds and will be weighing on confidence in general this week.

Yeah Jane and -- we wait and see if they're gonna apply for a formally for a bailout.

Also reports out over the weekend they Greece's budget 26 billion dollars short that can't be helping confidence in the common currency today -- their right.

Well again yes you knew quite -- -- again on the horizon that particular puts is that.

Being questioned by -- the sources but says he may but he is optimistic when it comes to.

At Greece's budget to not too many people not a surprise that will be surprised going forward if we discover.

That Greece is not quite that meet Tina targets once again but the -- yeah I -- net Athens at the moment.

Trying to hammer out Greece's next -- budget and that would allow them to get the next tranche of that bailout funds and they strokes at.

Apparently on the course -- -- they will be picked up late in the week and we -- -- -- more detail with respect to Greece but as a say.

I generally speaking that makes people onto optimistic when it comes to Greece over the medium and longer -- All right thank you very much Jane Foley for rob -- bank in London.

What are says its fiscal third quarter earnings quadrupled from a year ago the home builder says it made a profit of forty cents a share that easily beat the street's forecast of 28 cents.

Revenue jumped more than 30% from a year ago -- one point one billion bucks that also topped expectations.

Lennar says orders rose for the sixth straight quarter up 44%.

To nearly 4200.

Homes.

The company also says the housing market has stabilized.

And it's as a recovery is well underway.

Apple's new iPhone 5 is seeing strong demand here in the US many stores report selling out of the device.

But many retailers double Wall Street Journal that's because they were given limited qualities of the Smart -- And a journal says some Best Buy stores got as few as ten of the new iphones for the launch on Friday and the devices were all of one variety of data sizing carrier.

That left many pre orders unfilled for the other models but the Best Buy -- got as many as forty units of differing varieties.

But even these weren't enough to fill pre orders it was a differs tornado at apple stores in major cities.

They had stacks of the -- phones with a paper saying when stored particular sold 3000.

Friday alone.

But even those stores are now running low on supplies after a weekend of high demand.

The company that makes Apple's iphones has suspended production at one of its factories in China.

The shutdown follows a brawl -- -- 2000 employees.

Police are investigating what -- the fight which -- forty people at a dormitory near the Foxconn technology factory.

The company would not say whether this factory was involved in the production of iphones to facility employs 79000.

People.

It's closed today but plans to reopen tomorrow.

-- US lawmakers are trying to craft a plan to tackle the federal deficit a group of economists say a combination of higher taxes.

And spending cuts is the way to go.

And that is a finding of a survey of 236 members of the national association for business economics.

It also recommended more fiscal stimulus through next year economists say it should be extended to come at a sluggish economy.

Else to say the stimulus should be pulled back in 2014.

Another debate raging in Washington -- is whether to extend payroll tax cuts they are due to expire at year's end.

The majority of economists back the extension along with keeping the current marginal income tax rates and the rates for dividends and capital gains.

A look now at commodities oil and gold both moving lower and been picking up by the losses it accelerating here.

In early electronic trading coming up later this hour -- -- as his guest will be political strategist Paul but gallons.

Imus in the morning continues right now on Fox Business news news -- Howard --

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