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NYAG Suing JPM Over Mortgage-Backed Securities

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  • Description

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

  • Duration 4:56
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This is this Imus in the morning from.

On the -- Morning everyone it's time to check the markets in here in the US futures are up across the board Dow futures dropped by about fifteen points.

Yes and he's up by about eight in the nasdaq's up almost thirteen in Europe.

-- -- also turned positive Spain's prime minister this morning is reportedly denying earlier reports that the government will last for a bail out this weekend.

According to local press reports that is -- European markets are up across the board.

London's up by about eleven Paris is up by about six -- picked up by 31 now let's take a closer look at what's moving the European markets with Andy lynch.

Equity fund manager -- -- of birth in London to any earlier reports said Spain was ready to ask for a bail out now other reports say the prime minister.

To the government won't ask for bail out this weekend how should investors play this.

I think the name of the one very creating news that.

-- -- he's coming sustained growth rates this weekend to wore a few weeks down down the line.

I end and say the deal continues team -- -- eight.

Based they stocks in sectors where.

-- going to see a lot more sharing students as a result without saying we -- unethical put off.

-- yes they haven't announced a very peak vice CC to rebuild.

That capital so within this problem the other banks having to DVD the same thing.

And send.

In the mid term avoiding Spanish banks to me seems a very sensible -- it.

And any once again talks over rescue funds increased seeing that hit a roadblock -- things right back to where they started there are they actually making progress.

I think where -- not find the right to where we started -- what is it.

Bought it we all certainly having problems -- don't go along the way.

In the end I'm sure we will we will get -- some form of agreement between the troika on C and the Greek government.

Will then perhaps in the -- have to put got to the view of the pull the people.

By the street about could be the the big hurdle put the the Greek tragedy -- does keep calm and keep on running and so pleased to -- anything to keep pace -- That's Andy lynch and Schroeder's crates -- any bags.

Thank you.

And we're getting earnings -- now.

-- the fertilizer makers reporting a profit of one dollar one cent a share short of the estimate for a dollar fifteen.

Revenue came in at 2.5 billion dollars that was also -- -- estimate was for two point 68 billion.

Meanwhile New York's attorney general has filed a lawsuit against JPMorgan Chase over mortgage backed securities.

Packaged and sold -- Bear Stearns the sued by Eric snyderman accuses Bear Stearns of failing to ensure the quality of the loans.

From 2006 and 2007.

The suit claims investors lost more than 22 billion dollars on more than 100 of those securities.

-- one quarter of their original value.

JPMorgan which bought Bear Stearns in march of 2008 says it will fight the allegations the move by -- marks the first action -- come out of a federal task force.

A task force created by president bomber earlier this year.

And Bank of America's Merrill Lynch is reportedly looking to snatch up some of Morgan Stanley's top wealth management brokers.

According to the Wall Street Journal Merrill has given some of its managers lists of brokers to contacted -- reportedly looking to leave Morgan Stanley.

The paper says Merrill has even offered top advisors large bonuses in an effort to win them over.

And capitalize on -- steps by Morgan Stanley including.

Facebook's botched IPO back in many.

Samsung has scored a victory that ongoing patent war with apple after a court removed to temporary sales -- Against its Galaxy Tab ten point one.

The court -- -- from selling that model in the US ahead of an August trial in which apple accused Samsung of several patent violations but.

While the jury did find that -- violated other patents it found no infringement related to the band tablet.

-- -- Samsung has now filed its own motion claiming that the iPhone 5 infringes on some of its patents.

Analysts meanwhile are forecasting another month of gains as auto sales figures for September come in throughout the day.

Cue card dot com says it expects Ford sales declined just over 1% General Motors sales to get a two and a half percent bump and Chrysler sales to jump 8%.

Both true car and -- predict overall sales.

We'll hit one point one million up 11% from a year ago the firms expect Toyota and Honda to drive that increase with double digit.

Here's a look at commodities now oil and goal it makes for seeing oil -- but sixteen cents now around ninety dollars barrel gold is down.

I'm 1781.

Announced.

Coming up this hour Imus is gasoline bill O Reilly and now here's the -- them live on Fox Business.

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