apparently this is in frankfurt germany and this is a hovering

cheryl: thank you very much from frankfurt, germany.fox business from charlie gasparino. charlie is reporting massive layoffs are under way in the united states. hundreds of employees potentially at risk. and telling charlie the equity business has been, quote, decimated. we will get more from charlie gasparino in the next hour of markets. dennis: stocks every quarter hour. chipmakers that both end of the spectrum. nicole: we talk about supply it is the big issue. technology groups, to the downside and a supply warning and you can see down 22% is a huge move to the downside. if you are disappointed in how you have supply ready to go and some key beneficiaries both of which are up 8% on this news another thing to note is prices are flat but this could -- benefit from supplies. big picture market outlook a big day. if you have an ira or 401(k) you are pretty happy. lots of new highs. dennis: thank you. gold is hitting a five month high today. phil flynn of price futures group and fox business contributors watching all things shiny. phil:

apparently this is in frankfurt germany and this is a hovering monk., i've looked at this a number of times and trying to think of any possible way this is some kind of crazy magic trick, and i'm glad you guys have ideas, because i am all fresh out. >> i know what's going on here. >> tell us. >> this is -- the staff he's holding on to is a strong steal pole which goes up his sleeve, down again and forms a little weight for something he can sit on. all one big metal -- >> we've seen something like this. remember? one time a guy reaching out and touching a pole. >> here's the thing. if that's the case and this guy's got like a harness on -- >> well, no the a harness. >> you know what you do? go up to this monk, smack him on the butt. >> you couldn't get -- >> you wouldn't get cheek, you'd get -- >> it looks like in this video, he's quite the attraction. people are coming around tipping him. >> probably would. i was freaked out. >> facebook fans have another theory on the levitating monk. head to our facebook page and let us know. hopefully you'll see. >>

it is midday here in london, 7:00 in the morning in washington, and 1:00 in the afternoon in frankfurt, germany, where all eyes are on the meeting of the european central bank. the market will want to know if mario draghi is as good as his word. the oecd just described the crisis as the greatest risk to the global economy. spain has convinced germany for rapid action. i am joined now by our correspondent in berlin and madrid. steve, if i could come to you first. what are they discussing at the ecb? >> basically, whether to buy up spanish debt. if the price of borrowing gets too high. mr. mario draghi indicated he would do whatever it takes, how much he would be prepared to spend of the ecb's money, and germany is uneasy. willet it be a vague promise to buy debt or something more than that? >> how important is this meeting for spain? further down the line, italy possibly. >> the spanish government argues that the crux of their problem at the moment are high borrowing costs. they cannot go to the market and get money at a sensible rate of interest. there are two scores of thought white spain's bo

ashley webster joins us from frankfurt, germany with more. >> reporter: a low. this was the announcement that was expected from the markets. super mario comes through with agassi could call it a bazooka, basically to announcing that the ecb will have no limit on the number of bonds it will by that country's need that help to bring down their borrowing costs. we're talking about spain and italy. if you need help he must put in a formal request. you must live by strict conditions, and you will have the international monetary fund, the imf, comment to make sure you live up to your rules. the ecb decided to listen the collateral rules in order to allow banks more access to loans. in fact, the ecb president says that the key factor in all of this is to free up credit. >> the objective of this program is to repair monetary policy transmission channels which today are hampered to recreate a single monetary area which yesterday is fragmented. so we should see some better developments on the credit crunch. although we should not forget that credit flows are waggish for s

we're learning that lufthansa canceled a 190 flights in out of frankfurt, germany's airport, after cabinnother strike. \ is underway at berlin's's airport and an 11- walkout scheduled to begin 's airport. in disputes over pay and working conditions. flights in our area being reflected. 3:00 p.m. lufthansa flights airport and at 11:00 p.m. flight from dulles airport. those have been cancelled. we will keep you posted. one?d he get this >> it's another home run. congratulations to adam whoche in the nationals, defeated the cubs. more than just another win. this is the nationals' 82nd pleaded theye year guaranteed of their first season in the nation's capital since 1969. congratulations to the nationals. >> they have the best record in baseball, they cannot have the best fan support. than 24,000 yesterday. >> the nfl's 93rd season is set begin. the giants and cowboys wednesday night. in orleans on sunday. they are the underdogs, the redskins. it's a young team. is r.g. iii, but still lot new guys, which leaves a lot of questions. rookie alfred morris is happy to chance to play on sunday. ex

let's take it to ashley webster in frankfurt, germany where the ec made the big announcement. what about where you are? ashley: absolutely huge. mario draghi team through with what the markets wanted. unlimited bond buying program where they will buy one to three your note. all the countries have to do is officially request help through the bailout funds. it does come with an attachment of strict conventions that will be monitored by the imf. they're prepared to do that. to countries like spain and italy want someone coming in to the balance books is the big question. so far spain and italy said we won't apply for help. interesting to see what happens next. the ball is squarely in their court. his credibility on the line making the big announcement today and markets in europe reacting favorably as we have seen in the united states. the ftse up 12% and the cac index of 12% and bank stocks, french bank stocks up 7%. certainly a lot of positive reaction to this news but there are critics who say that the pcb is just throwing money at the problem. this is tantamount to finding gov

ashley webster joins us from frankfurt, germany with the very latest. >> reporter: said he would do whatever preserve the euro. today the head of the ecb gave what the markets want it, and of limited bond buying program in debt restoring stability and confidence. more importantly, reducing the sky high bond yields that we have seen in both spain and italy. >> there is no example. we want this to be perceived as a fully affected backstop that removes rust from the area. we want this. >> european markets surged by some two to 3 percent on the news, and banks especially got a boost, gaining six 1/7, and 8 percent in some cases. not everybody is happy. critics say that the ecb has overstepped its mandate and they say, what europe needs is less government, not more. >> i think it is very important that governments will withdraw from the market's seen. i think what is required is more and entrepreneurship because at the end of the day it will be companies that create jobs that produce goods and services. this is where economic growth comes from, not from an expanding government. so basically uncha

for the latest we go to ashley webster live in frankfurt, germany.y, since i joined fox and you've been going over to europe i've been begging you to solve the problem. you finally got it done. is it different this time? >> you know, that's a very good question. super mario got the bazooka out. before today the ecb had indeed a bond buying program which they finished back in march but it was limited in nature. it came with no conditions. the difference this time, melissa, it is, well, there is no limit. but it does come with strong conditions. countries have to apply. and they have to undergo strict monitoring of the conditions they agree to abide to in order to get the bailout. so there is a difference and now it is up to those european leaders of all the different countries if they want the bailout money, they have to formally apply and then put up with a lot of intrusion into their books. melissa: i don't know. we'll see how tough they really are about all this. the proof is in the pudding. i wonder a lot of people have been raising the question t

and the same textbooks that they're doing in abu dhabi or frankfurt, germany we're bringing to flint,n front of these kids and they're excelling. they're meeting those expectations because we're not letting poverty be an excuse. it's a huge barrier. [ applause ] but if there's any people that can overcome barriers it's teachers. >> and flint, michigan. we know that. good people there. janet, you're in harlem. what's worked in addressing the situation of poverty at your school? what's worked? >> okay. i strongly believe that a student's zip code should not determine the trajectory of their life. strongly. [ applause ] so i've been doing this for 11 years now. and what i have found that worked. i was at nine years at a public school, now two years at a charter, is i -- my job is harder. let's face it. my kids don't learn as much vocabulary at home. their parents can't necessarily help them with their homework. their parents can't necessarily talk to them about college. so i take that on. someone needs to do that for them. they're minors. they deserve that. right? so what do i do in i ge

in syria by a no fly zone have mobilized both pro and crowds around the world in germany's financial capital of frankfurt about a thousand demonstrators gather demanding an end to foreign meddling in the civil war our correspondent peter all of a was at the ready. well here in frankfurt in the square in front of the opera house a crowd of around a thousand people have gathered to demonstrate against foreign military intervention in syria they have been waving the flag of the syrian government at the moment the supreme syrian flag also bearing signs with the face of president bashar al assad they've been shouting their slogans in favor of the president and his ba'ath party however there is a small number of and see assad's. protests is just over there now there were some heated clashes earlier on between the two groups the police have now moved in to separate them but the vast majority of people as i say just around a thousand it is growing throughout the day as this protest continues here they are against foreign military intervention they are in favor of bashar al assad may have come out here today tran

in syria which could lead to military intervention has sparked protest in germany in the country's financial capital frankfurt about a thousand demonstrators gathered demanding an end to foreign interference in the syrian conflict artist peter oliver reports. well here in frankfurt in the square in front of the opera house a crowd of around a thousand people have gathered to demonstrate against foreign military intervention in syria they have been waving the flag of the syrian government at the moment the thirteen syrian flag also bearing signs with the face of president bashar al assad they've been shouting that slogans in favor of the president on his behalf policy however there is a small number of the assad's. protest is just over there now there was some heated cautious as earlier on between the two groups police have now moved in to separate them but the vast majority of people as they say around a thousand it is growing throughout the day as this protest continues here they are against foreign military intervention they are in favor of bashar al assad they've come out here today to frankfurt to start o

. >> in germany, an elderly couple went on trial on friday in frankfurt, charged with carrying out a series of politically motivated bombings, conspiring to kidnap opec's oil ministers more than 30 years ago. >> prosecutors say both were members of the revolutionary group back in the 1970's. their case has stirred memories of a decade when left-wing terrorists kidnapped and killed dozens of political and business leaders. >> the hearing in a frankfurt court studded with witnessed her money from members of a leftist group. the trial promises to be a trip back in time. the defendants -- a 79-year-old woman and a 71-year-old man, who are allegedly members of the revolutionary group. the group said the purchase divided in the 1975 kidnapping of opec oil ministers in vienna. three people died in that incident. the woman is not accused of being there, but she has been charged with supplying guns and explosives. prosecutors had demanded a 15- year prison sentence for her and one year for the man. testimony largely relies on one witness, a former terrorist who is already convicted of his inv

in germany, occupy moved in at the european central bank in frankfurt. thomas was an almost daily presence here, but in the beginning, he just want to donate an old laptop. >> i just wanted to drop off, but they asked me to stay. we set up an i.t. center to keep in touch with the people in washington and all the world. we kept it up for 300 days. >> it was the i.t. specialist's first demonstration, but he ended up as a spokesman. just like his counterpart in washington, he is still fired up about the issues. >> the trigger was the lack of consequences. the feeling was of the richer you are, the less you have to take responsibility. >> occupy had worldwide appeal, but it lacked coordination and leadership. after a couple of months, the camps in new york, washington and frankfurt were broken up. the banks have still not been punished. >> it took our anti-nuclear movement 30 years of protest before the government agreed to shut down nuclear plants. this is just the beginning. >> back in washington, robert stephens says occupy changed the terms of the politi

union for the euro area are taking a set as well as data from china and germany all adding to those stocks falling in london and frankfurt as you can see you know all of this gloomy the markets here in moscow finished below the waterline in today's monday session all the indecision in the euro zone is really having an effect on investors outputs i also not helping matters is prices as well taking a nosedive that's always a blow for the energy dependent russian markets must business for the obvious back in fifteen minutes all right thank you kenny coming up in a few minutes cross talk or peter lawwell and his guests trying to shed light on the background of reasons for the ongoing tension between china and japan. the friendship asian of russia has started again after two hundred years up at the . jet the emperor napoleon has arrived from overseas to lead the army i have to really take my time to prepare myself to get it right i know. the bloody battle near moscow is going to start over . james brown will reveal the victor the soldiers are back to do it all again. but you know version twenty twelve on r.t.e. . wealthy brit

frankfurt. >> a rather rocky start to the day, but the dax reached a new high. people seemed full of confidence that the constitutional court in germany will say yes to the bailout fund. people just cannot imagine a different result year. contributing to the share price gains, it is expected the fed will announce new stimulus for the economy this week. people ignore the warning of the rating agencies that it might lower its credit rating if the u.s. doesn't match to reduce its national debt. >> will have more on that warning it later in the show. let's get a closer look at the market numbers. the blue chips were higher on the day. over in new york, the dow jones industrial average is continuing the trend, up by 0.5%. the euro dollar is trading for $1.58. the spanish prime minister says he will not accept any more money from the european union if it means being told what spending cuts he has to make. >> in a television interview, he said he is not prepared to cut pensions. the european central bank said last week that they're willing to buy unlimited amounts of bonds to bring down the borrowing costs, but he says he will not ask for he

germany are you from? gueson. you don't know gueson? craig: is that where the geese are from? >> close to frankfurt. craig: close to frankfurt?: are you? >> couldn't you tell? [laughter] craig: this is kind of going in a direction which is working for me actually. [laughter] well, ladies, we would like to welcome you to america. i hope you enjoy your studies here and your vacation. cbs has a present for you. why don't you bring out the present. beth can probably help you in your effort to know about business. oh, come on. hell! beth is a cbs executive, aren't you, beth? >> yes, i am. you have been awarded dinner for two at craig's restaurant. craig: it is not my actual restaurant. it is a restaurant called craig's. nothing to do with me a bit like your friend has got nothing to do with you two. [laughter] what the [beep]? [laughter] i turn my back and you just walk away? >> i could sense the dirty and just wanted to go mark it. [laughter] craig: can you sense the dirty now? sense the dirty, baby. sense the dirty. [applause] >>♪ it's hard to stay up it's been a long, long day and you've got the sandman at the door but hang on

germany and other european locations. thousands of passengers have been stranded. >> right now, they are facing further delays from a rolling series of stoppages about pay and cost-cutting. frankfurt international says it has asked that no flights depart from the airport. >> intercontinental flights were not affected. union officials have promised more strikes in the coming days if the wage agreement is not reached soon. >> frankfurt airport ground to a standstill as the lufthansa cabin crew strike took effect. lufthansa had to cancel a around 200 out of 360 flights. >> i fly a lot. it is my wedding anniversary, and here i am waiting. it is annoying. >> you think the ground crew nom -- the ground crew, not the cabin crew, were striking. no one is here. >> it affects me, but they are entitled to strike. wage cutting in germany cannot continue like this. >> the dispute is not just about higher wages. the cabin crew also opposes the use of temporary staff on lufthansa flights. the company wants to employ temp workers on flights to and from berlin. the union accuses them of trying to erode pay and conditions. >> lufthansa wants to cut pay by 20% to 30% alongside this 3% wage increase

really because of germany that softer germans how is constitutional court allowed the country to ratify the euro area's harmatz bailout fund so as you can see we've got the dax in frankfurt of course the whole focus and up in positive territory now in the last twenty minutes or so the footsie house most move out of them and so we can see it's down five paces boys just more this late into the red territory just as i say we are looking now for two months. for the region other verses now that pinning their hopes on the potential for more stimulus from the federal reserve so they're looking stateside now i can tell you that the futures over there are actually pointing to the north side as well sort of good at the moment to see how the common currency is responding it's all of this is perhaps no surprise that we can see gaining out the moment as we can see still noise around the strongest level vs the dollar in five months out of the ruble as you can see it is gaining investors really. with the appetite back as for the russian mob his legs too are up in positive territory taking their cue from the international market is also the father boyle is getting too. cute for the inve

germany more of a challenge. the airline has canceled 1200 flights for tomorrow, two-thirds of their schedule. that includes 03 daily flights from dulles to frankfurt >> a new warning to parents tonight to keep could be get laundry packets of the reach of children. the colorful packets look like candy to a child. the u.s. poison hot line has received 2900 calls justice your children under 5 eating the packets. the results to be serious chemical burns to the child's mouth and throat. >> you saw her a couple of nights ago -- women who want to dress like michelle obama will get their chance. the dress was designed by tracy yeats. she says the address is now being rushed through production. the dress will cost under $500. the first lady's shoes are being sold by the j. crew online. >> everyone was talking about her great manicure. i know you wouldn't notice that. >> i did notice that. >> a liar. [laughter] here is a look at how the abc prime-time is shaping up. we begin with a brand new episode of "wipeout." at 10:00 president obama will accept the presidential nomination during night. the democratic national convention. we will wrap up at 11:00. hope