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Chinese Manufacturing Hits 14-Month High

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

  • Duration 4:41
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This is this.

Imus in the morning program on the -- the.

Good morning everyone has signed the check the markets and in Asia they ended the day mixed with shares of Shanghai's soaring following a strong report.

On Chinese manufacturing the HSBC flash purchasing managers index for December hit a fourteen month high of fifty point nine that's the fifth straight monthly gain.

And any number above fifty indicates expansion -- Shanghai jumped.

4%.

Hang Seng was also up while the Nikkei kospi and today in the red here in the US futures are up across the board -- Dow futures are up 44.

The S&P and the NASDAQ are both up for and in Europe.

Eurozone manufacturing PMI actually came in short of the estimate lot of services reading.

Was better than expected still both indicated contraction in markets there are fairly flat but now to the upside -- London up.

Little more than a point -- same goes -- Paris Frankfurt up.

Almost 23 -- let's take a closer look -- what's moving those markets have gone Randolph director of sovereign risk.

But I just global insight in London Ron.

If you run.

Condoms are this latest European Union summit was supposed to deliver pretty long list of accomplishment.

And yet it seems for the most part all Europeans will get here is a big guy -- you is this just.

An end of the year exhaustion kind of a thing or is there more to this deferral.

While they basically the disagreement between France and Germany two -- office.

In the eurozone about how to how to move forward and close integration.

But neither those big decisions are going to be kicked into the long cross -- will be discussed in June.

And there isn't feeling old so they've done an -- the banking unit and they've got the bailout fund up and running.

The ECB's got its base with IO NT conditional -- stopping of solvents.

So.

Michael is it saying basically up an election to -- in October next yeah.

-- the hall whatnot become a country level.

We -- -- making more progress of the European level.

Now one -- -- -- -- tentatively discussed is the creation of a solidarity fund of some kind to help member states suffering one off economic shots now why does -- need another fund.

To help troubled companies and a -- country that should say it already has ESM.

Yes good question.

Thank you but it should have -- the French have it's a good question I mean that every call a big bond.

Opener this principle -- it.

The accent which is Europeans European version all beyond that.

You know that that's been performing.

In the bailouts that we have sort of vol and possibly also the future bailouts -- conditional on the credit.

But I think the idea of having a more prominent bond full euros and -- I don't know quite what this is I think it's a -- -- did basically a way to.

Help jumpstart growth really four countries that suffered shops.

Michael is a little bit -- on this she says if we are gonna have this -- it's going to be very small.

102030.

Billion the most it will be -- -- not -- -- Obama is now off the table.

Parent as usual the details -- -- -- will have to wait to find out more gun ran up but I just global insight thanks for giving your -- the -- regardless damn thing for him.

Now there's no sign of movement meanwhile here in the US song another meeting between President Obama and house speaker John Boehner.

On the fiscal -- the White House says the two met for fifteen minutes in the Oval Office yesterday to discuss avoiding the automatic tax hikes.

And spending cuts set to take effect -- the new year.

As a deadline approaches more Republicans are pressing Boehner to accept higher taxes on the wealthy.

And focus on reducing entitlement spending but the White House seems to be moving away from allowing cuts to programs like Medicare.

The meeting was held after Boehner said President Obama won't get serious about spending cuts.

The White House says Republicans resistance to tax hikes on top earners is what's holding up an agreement.

States are facing a deadline today for a key part of the Affordable Care Act governors must tell the federal government whether they will set up their -- state Internet marketplace for health insurance.

-- they're gonna let the federal government do that so far only eighteen states in Washington DC say they'll set up their own exchanges with most Republican governors.

Opting for -- was supposed to be the backup option of re lying on federal exchange's shares of health insurers.

Have been rising in recent months as the start of the exchanges comes closer.

Here's a look at commodities now oil and gold have been up all morning we're -- -- now up.

-- us a dollar trading around 83 cents up around 87 dollars a barrel gold.

Is up about fifty cents at 1697.

-- coming at this hour Imus is -- will be radio talk show host Chris Russo.

And now here's the -- -- live on Fox Business giving -- the -- across.

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