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Cost of “Free” Checking Rises

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  • Description

    FBN’s Robert Gray breaks down the stories moving the markets ahead of the trading day.

  • Duration 4:58
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-- important programs -- It is okay.

Good morning I'm Robert -- let's check the markets this morning we've -- futures moving lower here in the US in early trading still in the red this morning.

-- C -- losses of about 13 of 1%.

Over in Europe there was a surprise drop in German business confidence this month also answered about Spain's debt crisis remaining concern stocks -- -- down across the board.

It would take a closer look at what's moving the European markets with Chris Beecham he's market analyst at IG index in London.

As Chris is the FO index market going the most on markets should today.

It's a combination of that -- -- does so worrying look -- loss of confidence from the -- an economy -- -- Moore is from Greece about how much time they can again next -- continuing uncertainty about -- -- gonna get any sort of rescue anytime soon.

Yeah actually we've seen reports whether -- 26 billion dollars short of meeting the targets are required to N and the possibility that that Spain.

Could be asking for a bail out this week what's the betting on both those positions right now.

But it's more of the same from Greece have been sort of footing so that's -- for a vote for parity and -- this crisis -- has been a surprise -- to -- Further the first country to be hit be hit by years -- crisis remains stuck in this miles meanwhile we Spain.

But it still if and when his project -- to president game of chicken with the ECB and rescuers are -- the conditions for its rescue.

-- we had -- of translators disagreeing on exactly when that you've got banking union should be implemented.

For Europe as well how much of an overhang exists or just more of a longer term overhang for the market maybe not so much for the the data day trades.

Most of -- Norma Lana tempting but send any sign of disagreement between Paris but it is always unwelcome we thought it was sort of still living together and -- -- canyon and once again disagreement has reared its ugly head.

All right well thank you very much Chris -- of -- market analyst at IG index.

Back stateside Lennar says its fiscal third quarter earnings quadrupled from a year ago.

The home -- says -- made a profit of forty cents a share easily beating the street's forecast of 28 cents.

Ready jumped more than 30% from a year ago to one point one billion dollars that also topped expectations.

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

To nearly 4200.

Homes.

The company says the housing market has stabilized and that a recovery is well underway and shares moving higher in the -- market.

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

But many retailers -- the Wall Street Journal that's because they were -- limited quantities of the Smartphone.

The journal says some Best Buy stores got as few as ten new iphones for the launch on Friday.

And the devices were all one variety of data size and carrier.

That left many pre orders unfilled for the other models other Best Buy locations got as many as forty units of differing models but even these weren't enough to fill their pre orders.

It was a different story ever apple stores -- in major cities they had stacks of the new iphones with a paper saying -- -- in particular sold 3000.

Friday alone.

Even those stores now running low though after supplies depleted.

-- -- after a weekend of high demand.

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

The -- follows is a brawl by as many as 2000 employees.

Police are investigating what calls that fight injured forty people at a dorm near the Foxconn technology factory.

The company would not say whether this factory was involved in the production of -- votes.

The facility employs 79000.

-- its close today and plans to reopen tomorrow.

-- -- also having a free checking account is heading higher.

That's according to a new survey from bank rate if -- customers must keep an average minimum balance of 723.

Dollars in checking accounts that pay no interest.

That's up 23% -- last year.

And the average monthly fee on non interest checking accounts jump by a quarter to a record high of nearly five and a half box.

Banks have also raised fees on ATMs and overdrafts.

These rising fees are due to the soft economy and new regulations that are squeezing bank revenue year.

According to the bank rate survey nearly three in four consumers say they would consider switching lenders.

To avoid these higher fees but they're discouraged by -- direct deposit payments and automated bill paying arrangements.

A look at commodities right now we've seen oil and gold both -- lower by about 1%.

Coming up this hour Imus is gas will be Jake Tapper of ABC news.

Now here's the I man on Fox Business getting used up power to prosper.

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