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Tempur-Pedic To Acquire Sealy

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

  • Duration 5:02
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-- -- -- -- -- Good morning I'm Robert -- let's check the markets rarely seen Asian markets rallying overnight and expectations that China may take more steps to boost its economy.

-- I was up nearly 3% overnight -- -- green arrows across the board.

Meanwhile here in the US futures have been moving higher as well -- I'd be seated down the SP 500 looking in multi day skids.

In Europe the Spanish government set to unveil more austerity measures including higher taxes and changes to pensions.

Italy's borrowing costs coming down in the latest auction the nation selling six point six billion euros worth of bonds.

The -- yelled at four point 09% the ten -- yield about five and a quarter.

Both yields lower than in prior auctions.

Also UK's GDP edged up slightly but still contracted -- four tenths of 1% in the second quarter.

That was -- slightly better than economists expected you see stocks moving higher across the board in fact.

In Paris up the most eight tenths of 1%.

Take a closer look at what's moving those European markets with will have these market trader at IG markets in London and well how much as this -- -- Fueled and inspired by the news that China may be adding some more stimulus of the markets.

This morning over well I think we -- some kind of dead cat bounce -- junior today we had such a heavy set off such a wise -- says on the stand which have seen that.

Pausing for breath.

I think you know you have -- is -- expectation that perhaps -- markets -- starting to look -- there will be potential -- diminish the coming from someone like China and -- sunny lifting.

The -- markets and it.

Yeah we're waiting -- to hear about -- just austerity measures and a budget out of Spain that's due in about the next hour or so.

How closely our traders and investors following those developments.

-- -- they male -- and is placing this is going to be the biggest kind of defendant that idea and to see how that how that's received in -- over to the problems that we've seen over the last few days -- I've started to -- markets audits and not since -- I don't the most before was yesterday today and some are trading sessions are going to be very important for the head how -- sentiment.

Drugs into the weekend and that's launching an MP focused on how successful.

That's the Spanish budget Islamic and how that's -- can spank.

All right we'll watch those developments very closely -- so much for joining us we'll hadn't with IG markets.

With some breaking earnings is here stateside McCormick & Co.

to spice maker reporting a profit of 78 cents per share.

Two pennies higher than expected revenue 977.

Point seven million bucks.

That is light -- that trails the estimate there are 989 point six million.

Is what the analysts were looking act.

Also some breaking news Tempur-Pedic buying Sealy for one point three billion dollars -- ever obviously in the mattress.

I area there will continue to follow this a development here again which assists Tempur-Pedic buying ceiling that deal one point three billion dollars.

Meanwhile EU regulators preparing to charge Microsoft for breaking an antitrust agreement the 2009 ruling ordered the company to offer users.

A choice of Internet browsers.

EU's antitrust chief says Microsoft has not kept it's promises Microsoft said in July did not include choice of browsers due to a technical error.

And that it was taking steps to fix the problem.

The company faces fines if found guilty.

Or -- to get a slew of economic data this morning including the final -- on growth in the US during the second quarter.

Economists expect GDP to come in at one point 7% that is a change in the second reading on growth.

Also get the latest read on the labor market with weekly initial jobless claims.

378000.

People -- expected to have filed for first time benefits last week that would be down slightly from the prior week.

But want to see if that number is indeed -- Plus we'll get the reading on durable goods for the month of August is expected to show a drop of 5%.

From July keep in mind July's numbers search quite a debt.

Take out a transportation component orders are estimated to have risen by three tenths of 1% after falling the prior month.

All those numbers due out at 8:30 AM eastern time and a little later on 10 AM we'll get pending home sales index for August that's expected to show an unchanged number from July.

Chrysler has reached a tentative deal with its Canadian auto workers it makes it the last of the Big Three auto makers to agree to a new labor contract with that union.

The CAW's president says the deal with Chrysler is similar to agreements reached last week but both Ford and General Motors.

Chrysler initially said those deals were too costly.

Unlike its fellow automakers Chrysler did not commit to create any new jobs in Canada under this agreement.

Ford workers have already ratified their deal -- GM's are expected to wrap up voting today Chrysler workers will vote over the weekend.

All right take a look at commodities now about the oil and gold moving slightly higher in early trading -- coming up this hour.

Imus guest will be Imus in the morning -- -- with Erica Fox News legal analyst -- us.

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