performers in the s&p and google and microsoft both reporting in three hours time from now. plus the water crisis in california. beverly hills making a big move in the last few hours. we re spending much of our time in the golden state covering the economic impact of this severe drought. by the way, that is where we find brian sullivan. he s right off the 5 just northeast of los angeles in castaic castaic. how are you going? reporter: i m going all right. i think i m going better than this reservoir here. this is a major crisis in california and the economic impact too, not just environmental, cannot be overstated. los angeles today saying it is going to rewrite the water rule book cutting landscape watering to two days a week from three. officials are debating what parts of los angeles are worth spending water money on and which parts are simply not. too far gone already. beverly hills, the posh enclave issuing its open water rules. fining property owners $1,000 each for
line for q-2 and the second half of last year was the strongest since 2003 and europe is trading much better than the nikkei would have suggested. our roadmap begins with the market. stocks are set to open in the green this morning after the major indices fell more than 1% in trading yesterday. the good gdp number helping sentiment after the economy grew as we said by 3.2%. speaking of green, shares of facebook are soaring after sales and profit topped estimates thanks to a major increase in mobile ads. profit for the year totaled $1.5 billion compared to $53 million in 2012 and what a difference two years makes. google is selling motorola to lenovo for just under $3 billion. just a couple years after buying the company for about $12.5 billion. but we ll begin with the markets. futures are pointing to a higher open after yesterday s selloff on the gdp reports and claims and the economy is growing 3.2% in the last quarter shrugging off the effects of the government shutdown an
red lines are all about. live from bloomberg headquarters in new york, this is market makers, with erik schatzker and stephanie ruhle. good morning. it is thursday in new york city. you are watching market makers. i am erik schatzker. i am stephanie ruhle. after a week and a half, you may not be excited about it. allquote mariah carey i want for christmas is new got a change the topic very quickly. got to change the topic very quickly. we have an unbelievable lineup. we are already getting calls saying that joe baratta is on, i want to cancel meetings. then we will be speaking with alan mullally. i will share the interview i had yesterday afternoon. herbalife.ing let s not forget about bill gross. who can forget the bond king? for now, let s get to the newsfeed. it is the top business story from around the world. the u.s. economy grew faster in the thor quarter than first figures showed. up from the initial estimate of 2.8%. the biggest increase in inv
postponed because of the economic shutdown. the jobs report is now due on tuesday. and investors are going gaga over google. the internet giant posts first quarter earnings that easily beat forecast. so welcome to the first hour of worldwide exchange. here we are, just an hour into the european session and around about 7 to 2. the ftse yesterday was just up 4 points. we close at 6,576. we saw the dow fairly flat. that s giving us a bit more of a boost on the ftse. up 0.25%. the xetra dax up 0.1r5%. cac 40 up 0.3% and the ftse mib is down 0.1%. google is posting its best profit growth in more than a year reporting earnings. but a full in the prices paid for each click. google stock in frankfurt, up 7%. angela merkel down 2% today. it s talking about third quarter copper production, which jumped 32% year on year. but the british based multi national reported a full in iron ore output. loreal is up nearly 2%. it s followed confirmation that the business is in talks to buy
then, now i can move over here, there is sue, the it fed, decision time, one hour away and where does america stand on job creation? it s critical, obviously, to the fed and to the economy. adp number out this morning, not so great. let s check in with you at the nyse. you re absolutely right, and we will get to that but we want to start, ty, with the fireworks on capitol hill as kathleen sebelius goes before the house energy and commerce committee. bertha coombs is on the case on capitol hill. over to you, bertha. sue, the hearing lasting more than three and a half hours and members of congress usually a little more def ren shall to a cab meth member but they did hit secretary kathleen sebelius hard on a number of issues. she started out by apologizing and taking responsibility for the website nurse and it s improving every day. clearly there have not been enough but she said none of the contractors who said they raised red flags said the problems warranted delaying the