wall street is cautious as it's awaits a report on the world's biggest economy from federal reserve chief ben bernanke it later today stocks. morgan stanley bank better than expected second quarter profits this morning linda shares are up more than one percent. europe rising in the afternoon miners are enjoying their third straight day of gains as the price of copper and other metals strengthens extra cuz they. are all up more than five percent. and more scoreboards is performing well as well still make a mitchell is up almost five and a half percent off revealing a big rise in metals output for the first half of the power provider bruce hydro shared two percent on news of the tariff loss at its plant this morning it's now almost recovered those losses as analysts say the explosion caused less damage than initially feared. for analysis of what's going on in the markets i'm joined from london by vic the schmitz managing director of international big thing just as a worried about the stress test results from european banks out on friday do you think that's already been factored into the stock markets. i

fifteen percent rise in newcastle's this year i'll have more in just a moment but first federal reserve chief ben bernanke said on wednesday that the outlook for the u.s. economy was unusually uncertain feeling investor fears about the strength of the global recovery the nikkei added that unemployment to remain a key concern in the coming days and finding jobs for those unemployed will be a challenge he added that central bank expected g.d.p. to grow three percent in two thousand and ten and three and a half percent in two thousand and eleven and two thousand and twelve. the economic expansion that began in the middle of last year is proceeding at a moderate pace supported by stimulative monetary and fiscal policies however the housing market remains weak with the overhearing a very good or foreclosed houses home prices construction. and if you've got time z.x. you markets asian stocks have traded mixed following weakness on wall street where stocks declined in response to those comments from but nikkei asian markets also reacted negatively on opening the nikkei showed that more than half a percent a stro

business unusual uncertain was how ben bernanke you described the prospects for the world's biggest economy the response by the financial markets to the federal reserve chief testimony has also been one of all certainty as these comments fueled fears about the strength of the global recovery within a culture of reports. ben bernanke used testimony did little to reassure the financial markets about the durability of the global economic recovery growth on the one hand he declared there was little probability of the recession returning but on the other his says it's a number of first factors including high unemployment and the weak housing market an important drag on household spending is the slow recovery in the labor market and the attendant uncertainty about job prospects after two years of job losses private payrolls expanded at an average of about one hundred thousand per month during the first half of this year a pace insufficient to reduce the unemployment rate materially the chairman said the central banks to drag to further ease monetary policy if they would come free showed signs of stalling but with interest rates close to zero he has little room t

federal reserve to wall street, that's cause for alarm. speaking in an unusually downbeat tone to the senate banking committee yesterday, fed chief ben bernanke talked about continued weakness in a labor market while offering no plans to help stimulate the stagnant economy. stocks tumbled after bernanke's comments despite a number of strong quarterly earnings reports. shares in investment bank morgan stanley rose over 6% after its earnings came in better than expected. another financial, wells fargo, was up after rising loan demand helped lift its earnings higher than expected. apple was up also after posting strong quarterly results, but the company's cautious forecast limited gains. coca-cola gained on better north american soft drink sales from april to june. us airways joined delta and united in posting a big second quarter profit. overall, this quarter has been the airline industry's best in three years. american airlines was the lone loser, blaming high fuel and labor costs. netflix was down after its second quarter brought in less revenue than expected, despite the movie subscription service adding a million customers. keep an eye on q

chief ben bernanke heads back to the hill yesterday. his remarks to the senate yesterday as strong reaction from the market. >> even as the federal reserve continues prudent planning, the ultimate withdrawal of extraordinary monetary policy accommodation, the outlook remains unusually uncertain. we will continue to carefully assess on going developments and we remain prepared to take further policy actions as needed to foster a return to full utilization of our nation's productive potential in the context of price stability. host: the fed chief says the economic outlook is unusually uncertain. that is what we want to talk about with you this morning. he also said the unemployment rate will likely stay high, and double digits, for the foreseeable future. we would like to talk to you about his assessment of the state of the economy this morning, and here are the phone numbers -- we would like to talk to you about the economy especially in light of the fed chief assessment. really interesting looking at the newspapers and the various headlines. the top of "the baltimore sun." "the washington times" picked up on this. "usa today" put this on