July 31 - Profits at UBS more than halved in the second quarter, rival Deutsche Bank not faring any better.
FaceBook claims another victim of an all eyes on the Fed today as we kick off your US morning call. Swiss bank UBS leading after the FaceBook IPO snapped. Profits at the bank or more than half in the second quarter with its investment banking unit seeing a dramatic loss. UBS incurred 355. Million dollar loss on the social -- stock market debut. The bank plans to take action against the NASDAQ for mishandling offer. UBS shares in Europe fell four point 8% today. Rival to want to thank not faring any better it's -- second quarter profit plunged 63%. At its best bank hit by the Euro zone debt crisis. US stock futures are point to slightly higher open this morning for Wall Street but European shares halted a three day rally in oil dipped as investors adds that recent sharp rally outside stimulus hopes. It over. The Fed begins today mean today while ECB and Bank of England on Thursday. That economic data that could have an impact on stocks later today S&P case Shiller home price index is expected to minus one point 9% year over year. To about minus one point 5%. That we -- readings in October 20 -- Also Chicago PMI data IFR estimates that number will slip to two point nine -- 2.5. That's consistent with other surveys predicting slowing growth in manufacturing. We're tracking some market that's an apple today stock is up six dollars touching 600 as investors it's legal battle with Samsung. The jury has been selected -- trial. I'm seeing a slight -- shares up one point 5% after reporting higher than expected results drugmaker cut costs and affirmed its twenty X twelve profit forecast. BP shares seeing a drop it pre market the company slashed five billion up at night and US assets as it struggles of lawsuits linked to an oil spill. A -- with Russian partners T and KBP also -- -- results. And watch turning -- that tech giants in terms CEO Ross Levenson quickly Monday. Two weeks after he lost the top job to Google's Marissa Mayer. The Glazer family from Florida may finally score a goal as debt ridden Manchester United prepares to go public. English soccer club set the terms of its US IPO on Monday. Offering sixteen point 67 million shares between sixteen and twenty dollars each. Which would unite the team at point three billion dollars. That your morning call this Tuesday you could follow us on Twitter at Reuters Insider and check -- -- to channel. Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters the.