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Markets Ready for Trading Wednesday

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 5:00
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This transcript is automatically generated

This is there.

Imus morning program on the fox.

Everyone we got earnings -- from General Motors today -- the company says third quarter profit fell from a year ago as losses grew in Europe.

But the results did still topped expectations profit came in.

And adjusted 93 cents a share easily beating the estimate for sixty cents.

All revenue rose two and a half percent from last year to 37 point six billion dollars which also topped the forecast.

GM also gave its first outlook on its European operations saying it expects the division to lose between one point five and one point eight billion dollars this year.

GM says the unit isn't expected to return to break even on an operating basis until about the middle of the decade.

Checking markets now we've -- US equity futures to the upside.

We're seeing Dow futures up by 51 now -- -- -- he's up by about nine same goes for the NASDAQ.

In Europe we've been looking at a mixed market for most of the morning London's currently down by almost fourteen Paris and Frankfurt -- are still to the upside.

Wall Street meanwhile is poised to reopen this morning after being shut down for two days by hurricane sandy but the real challenge could be.

For the hundreds of New York Stock Exchange employees tried to get to work.

Warrants in that he is at the exchange and joins us now with all of those conditions good morning Lauren -- it look like down there.

And you wouldn't believe it I couldn't believe it at 90% of traders are X that's still -- work today they've driven and because she can't get here and other ways actually and it they're getting easier stock exchange parking masses so we're here they showed you the resilience of new -- is now we've got one trader Donna Bancorp you know it.

Meridian equity partners and US sayings on -- and that -- help and it's a great feeling and I -- the opening bell as sound as it's close to you but trading is going to be light.

I think it is -- to be -- I think.

Having the last two days of no market activity.

Out investors and traders are gonna take a step back and just to see how the market is gonna react act so know what's gonna jump right into the -- the got to take a look at a time.

At 930 see where the market's gonna find it strange and -- get -- retreating from there without a lot of economic data that was supposed to be on account of this week's there's still some certainty there.

Earnings some had been postponed some did come out -- came out Monday -- Tuesday.

We have election next week so -- end of the month tomorrow our Friday so there's reasons to -- in this market I think investors gonna wait and see.

Just how the market's gonna react and -- -- phones being spotty and Internet service being spotty how can you expect to get business.

So we have not individual fault lines that have been set up to each firm down your site fault lines one or two coming -- coming out.

And we're gonna go old school style we're gonna trade the way we use to trade we're gonna have verbal communication.

-- we do have the internal technology NYSE that is working here.

But clients and customers are gonna call me tell me the orders that they want.

And we're gonna be portrait from Egypt and signal -- let me see don't know now.

And it's it's really unclear and very encouraging that we're getting back to business today and that opening bell sounds and possible.

It's a fun house -- areas death.

But but not -- that your stock exchange -- -- I look at the bright spots are we can -- and -- get stuff thanks so much.

And -- things slowly return to normal on Wall Street let's go over to citi's Smith now at the Chicago Mercantile Exchange where trading.

But never affected by hurricane sandy -- -- things like over there.

I'm not -- -- the case -- stock index futures have been closed down each and every day so far this week they will return to normal trading today.

-- they did trade in the overnight session they opened back up along with interest rate futures the last evening you're looking at the interest rate futures -- down here at the CME group in Chicago.

Where things haven't strike quite started getting going yet we're about seventeen minutes away from that open.

If you look up in the corner here this is the S&P 500 futures pit.

Where there has been no traders and those pits at this week they will be filing back in this morning for regular pit trading hours.

-- we're already getting a sense where -- stocks may be opening this morning stock index futures are trading the -- to the upside.

Giving as a sort of -- sentiment in the market as we wait for stocks opened in New York.

-- they are looking positive this morning energy prices looking positive oil prices up back over 86 bucks a barrel.

Gasoline natural gas prices are up this morning precious metals -- gold silver silver is the top performer in the CRB index.

We have a weaker dollar today -- coming up Terry Duffy the executive chairman of the CME group.

This trading floor in Chicago he will be joining us live at the top of the 9:50 AM.

Eastern time.

Not the top at 9:15 AM eastern time this morning guys that special report hosted by -- could read out states and for that -- -- exciting morning back yeah.

Sounds get that -- Smith live from the -- -- really sure to -- in vendor in the meantime.

The -- back over to BI men now on Fox Business giving you the -- across.

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