Aug 1 - The Fed will likely show it is ready to act against a weakening economy but stop short of aggressive measures for now.
How far will affect ago that's the question of the day as we kick off your US morning call. At 2:15 PM eastern today it will be showtime for the Federal Reserve. As it released its its statement on the state of the economy. Central Bank is likely to show that it's ready to tackle any weakness but it may not reveal any new or old tools just yet. So teacher counting on another round wanna take it easy don't hold your -- Some on Wall Street however are also possibly bracing for another round of fed bond purchases -- -- is this app and others say in September. Economists predict Bernanke is likely to push back guidance on raise -- to 2015 from the current consensus of late 20s14. US stock futures acting you -- up slightly ahead -- that decision a bunch of dismal data across continents could put more pressure on that today. China's official factor PMI fell to eight month low showing poor performance and manufacturing sector and slowing demand in the US and Europe. Joblessness in the eurozone hit its highest since the creation of the block. And in the US economic growth slowed to one point 5% in the second quarter as consumer spending culture and unemployment remains stuck at eight point 2% to critical monthly jobs report is due out on Friday. The federal also have a chance to take in data from this morning which may not be any better. IFR expect to see -- drop in private payrolls from 176000. In June. 225000. For July the ISM manufacturing index is expected to rebound from 49 point seven to fifty point 4 July. But still pretty weak number. And US auto sales are unlikely to hit any records saying fourteen million units according to a Reuters poll. Now for some stocks to watch shares of apple are up four dollars touching 614. Bucks. On Tuesday lawyers from Samsung apple faced off with opening statements at a high stakes patent infringement trial. Checking in on some earnings action Comcast posting higher profit this morning on a growing number Internet subscribers. Another immediate panic out today Time Warner posting a lower quarterly net income after seeing declines in its -- and it came. Publishing units. Avon in need get a make over shares down the premarket after Q2 profit plunged 70%. Also keep my shares of MasterCard. They're moving up in the premarket. The companies have two reports it that's your morning call this Wednesday you can follow us on Twitter at Reuters Insider and check out our Reuters YouTube channel. At Reuters dot com slash Reuters TV I'm Lisa Bernhard this is right it's.