Friday July 27, 2012 Happening Now

Good Morning!

The Olympics opening ceremonies are tonight. Big Ben's historic clock bonged for three minutes to signal the first day of the games, and church bells rang out across the U.K. Queen Elizabeth will officially open the games by ringing a 27-ton bell at the Whitechapel Bell Foundry. Michelle Obama will lead the U.S. delegation in the parade of nations. Mitt Romney will also be in attendance. He'll watch the opening tonight. Some media outlets are making a huge deal of some comments made about London preps. We'll ask our Fox News Watch panel about that. Carl Cameron is covering Mitt Romney's overseas trip. Greg Palkot covers security.

We get a key read of the economy today. Second quarter GDP numbers are out this morning at 8:30. We'll also get revisions for the past several years.. so it could give us a better idea of exactly how the U.S. economy is performing. As our brainroom points out, economic numbers are painting a tough picture lately. Retail sales are down, home sales fell from May to June, U.S. manufacturing activity is shrinking, consumer sentiment has fallen, and job growth is tepid.

One other economic note: Facebook shares could take a big hit at the opening bell. The company disappointed investors after the close last night in its first earnings report as a public company.

16,000 homes without electricity after a possible tornado hit southern New York state last night. We've got some cool pictures of the approaching storm including from our own Donovan Grannum.

New analysis shows that a full 20% of the United States is under drought conditions. That's a lot of territory!

The New York Times reports the number of cyber attacks has risen 17-fold between 2009 and 2011.

In Syria, residents of the country's largest city, Aleppo, are preparing for a massive assault from the Syrian government. There are growing fears a massacre is coming. The U.N. continues to dither as people there continue to die. The Red Cross is pulling some workers out of the country. Reuters is reporting the Obama administration is moving closer to secret assistance to the rebels there.

A new report says at least 719 people - many Americans - have died trying to rebuild key infrastructure in Iraq since 2003.

The U.S.-led coalition reporting attacks in Afghanistan are up 11 percent in the past three months.

The Washington Post reports today that Iran is amassing an arsenal of missiles, attack boats and submarines to use against U.S. forces in the event of hostilities.

Clint Henderson is the Executive Producer for “Happening Now” and an avid traveler. Follow his adventures on Twitter, ClintPHenderson, and Instagram, clintpage1.