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Bank of America Reports Breakeven Earnings

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  • Description

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

  • Duration 4:46
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This is -- Imus in the morning program on the Fox Business Network.

-- -- -- -- -- -- -- Good morning everyone let's start things up with a look at last night's presidential debate as both President Obama and former Massachusetts governor Mitt Romney.

Met the challenge head on answering questions on a broad range of topics both men came out swinging and fox business's Peter Barnes was following -- -- in Hempstead New York.

Here had they -- While I was it was set another.

Heavyweight there rematch here in Long Island -- and the two candidates fought.

Over taxes jobs the economy.

Health care energy and even.

Chinese investments in their retirement plans.

-- -- It said that was a moment ago I didn't get a chance to.

-- when he was describing.

Chinese investments and so for an Obama second we like I'm not accept mr.

Karzai also speaking on -- -- -- -- it mr.

at this present another -- finish.

I'm I'm I'm and -- yeah.

-- -- -- -- -- -- Governor Romney went on to ask.

President Obama if he knew what investments were in his.

Retirement plan and they likely included.

Chinese ones -- That's Peter -- live from Hempstead New York thanks Peter.

Let's take a look at the rest of the markets now here in the US we've -- futures sort of searching.

For direction this morning we're currently seeing Dow futures up by ten the S&P -- up by almost two points NASDAQ down by half a point though.

In Europe Moody's Investors Service confirmed its rating on Spain's government debt but assigned a negative outlooks signalling that a downgrade is still possible in the coming months still.

Markets there are in the green across the board we're -- London up by almost thirty points -- up by about thirteen and Frankfurt's up by fifteen.

Also going to be a big day for earnings has been already we're getting results and now from Bank of America.

Companies reporting and net earnings per share of zero we were expecting a loss of seven cents there's that is indeed if those numbers are comparable.

Revenue came and that's -- -- point 43 billion dollars.

The expectation there was for 21 point 89 billion and will continue to keep you updated as we continue to look through that report.

In the meantime let's take a closer look at what's moving European market -- version amazing as head of global and international equities at Schroeder's in London.

A -- a -- treasury analysis shows that Britain's public finances were worse than thought.

In the run up to the financial crisis -- this comes as chancellor the chance to their prepares to abandon a government pledged to ensure that debt is falling by 2015 does this give.

The current government there a bit -- -- out in terms of blame for the economy.

I think it does.

But I think we have to be placed you know -- UK.

Conditions within the several European conditions because actually when you -- -- The situation indeed UK verses Spain or Greece or even -- -- we have to put things in perspective and I think what happens in the rest of Europe.

Will also have a big impact on the UK so.

If you move non to the rest of Europe I think they are things that are slightly encouraging in the sense that.

We are seeing it should be doing in little bit better clearly -- -- close to have a package off onto Spain.

That's would help the markets.

Go forward if you want could be sense of I've we've reached a trough.

All of the -- of the situation now we noticed an austerity packages.

-- to come but for Europe all for more you know -- we've reached the worst point.

And -- -- discussions in Europe taking place are very important Germany is playing it half.

Odd that neutralize Asia and that morning a lot of discord.

You know integration.

And I think the discussions would have over the next few days.

India -- -- -- going to be very important.

To set the tone for 2013.

I that's -- they may is not -- -- ever in London pat -- thanks -- version you're appreciate the announces thanks there.

We're getting earnings in now from PepsiCo the beverage and snack food companies reporting a profit of one dollar twenty cents a share beating the estimate.

For -- sixteen cents revenue came in at six point 65 billion where sixteen.

Point 65 billion I should say that's a slight -- the estimate there was for six point nine billion dollars.

Let's take a look at how markets are reacting to all of this we've got oil and gold to the upside this morning we see oil up by about fourteen cents.

Gold is up by about six dollars trading at 1750.

To announce Imus in the morning continues right now on Fox Business giving you.

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