profit guidance. >>> and going live in shanghai with the stock market. but we hear they are still confident on china. >> i don't see people pulling out of china but i continue to see people putting money into china. >>> g20 leaders warn russian president vladimir putin more sanctions could be on the way as they meet in brussels to discuss possible measures. >>> now to our top story, a quite astonishing story in japan. the gdp number shows a 1 president 6 contraction against the expectation of 2.2% growth. one of the analysts said there's a big drop as businesses cut back on investing. key consumption is another weak quarterly factor. japan is now back in a technical recession following the drop in q2 after the sales tax came through. the latest fall is cementing last week's rumors of the second tax hike to be delayed and a snap election will be called. now what does that mean for the markets? the nikkei, sorry, the yen hit a seven-year low of 117.06 but they are currently up .92%. does this mean we get more easing or have a snap election? or a sales tax hike is delayed? hence the

can be part of the story here. shanghai stocks entering bear market territory which means they're down 20% from the december 22nd peak. if you're having a case of deja vu that's because this is the second time china has dropped into a bear market in five months. it breeched it's august low when the panic started. chinese banks giving 91 beside in new loans in december and that was down sharply from november. the chinese currency which remains a key focus for the markets stabilizing a bit. the people's bank of china setting a slightly weaker midpoint for the yuan but the fix has been steady now for a week despite setting earlier in the day. the yuan traded firmer. there's been a lot of volatility in the offshore market in hong kong. a big gap in the way it's trading relative to the official way that they have been managing it and that's causing a lot of anxiety in the markets. here's how the final session of the weekended in the red for the japanese nikkei index. for the hang seng in china. the hang seng in hong kong and of course i mentioned the chinese market as well. continued c

shanghai. this particular market up 0.2% for the nikkei 225 and the kospi. the shanghai composite paring off earlier losses to close 1.4% higher. the hang seng closed 0.8% higher and the bombay sensitive 30 index cloes closed up 1.5%. what is not on this chart is the taiwan market which closed lower. in terms of the recovery picture, a lot of concerns there, but the market seems to be closing back up. nymex light sweet crew up 59 cents. brent crude trading up 38 cents, $70.92 a barrel. bertha, good to see you. how are the futures looking today? >> looking much better. it looks like we're taking a bit of a cue from what we've seen in asia and europe this morning. we've got dow futures right now about 70 points above fair value. we're going to hear from dow component home depot this morning. lowe's disappointed over the weekend. we heard over the weekend both warren buffett and eddie lambert had cut their allocations in home depot. so it will be interesting to see what the bid box retailer has to say today. we'll get housing starts, as well. a very busy day today. and watch apple, a

percent. the nikkei up over a percent. and the shanghai composite posting a fractional gain up about a quarter of a percent there as well. overall we are seeing movement in european markets as well. mostly to the downside however. the ftsi mib in italy off and the blah blah. >> it is friday but there is still a lot on today's agenda. we'll get the results of the purchasing manufacturers index for april. at 1:00 p.m. eastern we'll get weekly rig count numbers. and on the corporate front caterpillar, mcdonald's, general electric, just some of the names before the opening bell. >> it is early on. but still the idea that we could be seeing at least an earnings story play out where we continue to see that earnings recession play out. a sales recession for s&p 500 companies. so a big move. and a number of big stock movers. microsoft. shares under pressure after falling short of estimates for the first time in nearly two years. the cloud business couldn't make up for a slowing pc market. still satya nadella sounding upbeat. >> the cloud is being built to optimize and grow. with our results th

its recent highs against the green back but the big story, no doubt the shanghai composite off some 0.5%. hang seng was off as well. but for the shanghai kochl positive it, this is significant because it officially closed in bear market territory. let's show you the move here from the january 24th high, we're talking about a dip now just more than 20% sure china is caught front and center in this trade fight with the u.s., but also strategists here in asia have been saying look out for the debt concerns for corporate debt defaults and concerns there on the mainland too. back to you. >> nancy, thank you. investors are now trying to digest some mixed messages from the white house over trade president trump's top trade adviser peter navarro trying to calm markets late yesterday. he said wall street was overreacting to trait fears and th and the administration was not working up restrictions on china or any other nation. >> there is no plans to impose investment restrictions on any countries that are interfering in any way with our country. this is not the plan all we're doing here with

liquidity operation loans. this after the shanghai composite posted it's fifth consecutive session of declines despite yesterday's rate cut. as you can see down 1.3%. let's get the word from sri wrapping today's asian market trade for us. >> let me talk about this operation to inject 140 billion yuan via the slos. this is an attempt to avert a liquidity squeeze. remember the recent measures that we saw yesterday announced by beijing amount to some 650, i think between 650 and 750 billion yuan being pumped into the money markets in china a lot of people saying it's to offset the capital outflows as a result. so it seems to be a zero sum gain so this explains why beijing today in the last hour or two is attempting to top up the liquidity tank. it's a short-term move and short-term in nature and short-term impact on the markets. tomorrow we could see it contribute to a degree of stabilization but once again this is arguably policy incrementalism by beijing. it does suggest a bigger broader more crafted package of measures so the latest measures are far from being big bank. might contribu

another ugly session in china where the shanghai composite posting its biggest one day fall since 2007. investors reacting negatively after beijing holds back on a rate cut. >>> oil hitting a fresh 6 1/2 year low with wti below the $40 mark. pressure is being put on the gulf markets. >>> the oil decline in china woes also hitting emerging market currencies. the russian ruble nears a 2015 low despite efforts from the government's stemming its fall. >>> hi, everybody. good morning. glad that you're joining us today. you would have seen on "squawk box" that we opened in substantially lower territory. three minutes into trade this morning and many of our european equity markets off somewhere in the region of 3 to 4%. the selling continuing today. a lot of nervousness back in the markets despite the fact that we're looking at an august lightly quit at this season. supposedly we saw the most volume of the year on friday's close with all of our indexes in severe negative territory on friday's session. over the weekend, a lot of people, they were assuming that the pboc in china, that they migh

board in asia, led by a big tumble in the domestic chinese market. the shanghai composite down 3% another four-year low for china. much of that weakness driven by the yuan, hitting its lowest level in two years after our treasury department did stop short of labeling china a currency manipulator, but said it is keeping close taps and watching beijing and i currets currency closely we are seeing a mixed market in italy. the big european story, a lot of worry there, down fractionally but a rebound in some of the major european markets here's a global look at commodities and currencies oil, we talked about that a bit, back below 70 a barrel just simply seeing a lot of oil still out there on the market, record u.s. production, high inventories. a barrel of crude, 69.32 bitcoin, can't get out of its own way, 6,435 let's bring in a guy who has been maybe as right or more right about the entire market than anybody else. that is craig johnson, chief market technician at piper jaffray. pleased to have you on set you got an extra hour of sleep i have to show you what craig does how often d

with the shanghai composite shedding more than 6%. the shenzen down a similar amount and the japanese market to the down side after very disappointing growth data out of japan yesterday. as we take a look at european markets they're also following queues from asia aside from the xetra dax higher on the day by 6 points. the ftse 100 moving lower after we got the latest round of inflation data after cpi came in lower than economists were expecting. prices edging lower for the month of july. sterling moving higher against the u.s. dollar. >> yesterday we saw safe haven buying into treasuries because we saw that manufacturing number that was weaker than expected. let's have a look at the ten year treasury note yield this morning. we're currently sitting at 2.155%. the ten year bund yield at 62 basis points. dollar strength yesterday despite that job in yields but today it's a little bit of a turn around. we're seeing some weakness ahead of cpi numbers and ahead of the fed minutes. euro dollar at 11071 and we did see the spike in the cable exchange rate of the pound against the u.s. dollar

cautious on the economy as a result of brexit. the asia board the highlight was the shanghai comp, with those mainland china stocks a decision to be added to the msci, could welcome more demand and interest in chinese stocks it happens may 2018, but clearly having an impact up a half percent there. weakness in hong kong and japan with the japanese yen firmer for a second day in a row. >> what's the market chap of china's stock markets? >> trillions >> trillions but if the u.s. is above 30 trillion, what do you reckon china? >> 10. >> correct >> really? >> how annoying. >> hong kong and london tied where? >> 20? >> hong kong and the uk about 4. u.s. above 30, which i was amazed china is 10 clearly second place >> we'll hit that more and go to shanghai for a live report from eunice in europe, red across the board. perhaps we're following that in u.s. equity market futures france down a percent. germany down 0.6 the ftse 100 down a quarter of 1% it's doing better. teeing off of that weaker british pound. >> some banks in germany and france doing poorly after yields slipped a bit and underm

china's air share with the shanghai composite boasting it's biggest drop since 2007. energy stocks among the worst performing with china oilfield services off 10%. more live in singapore with the latest. sharia what's the big catalyst on the downside? >> well there seem to be two factor seema. one is there's a sector that seems to be suggesting that beijing is starting to step away from the market in terms of its support. and the backstop that we saw at the height of the volatility, remember in july over the course of july really especially and into june as well. so there's a asense that the government is trying to test the waters here. 4,150 was being touted as an unofficial bailout target. at that point, it seems that the government -- we crossed it by the way, last week in intergovernment trading. at that time trying to test the market's recovery from the lows are self-sustaining and clearly it was premature to do so. they got a hint that the government was starting to step away and we saw cataclysmic declines. and there's evidence that the economy is falling with the profitability nu

than 2%. china markets bucked the down trend. some shanghai based companies continued to gain ground after launch of the program yesterday. wai gaoqiao. xinhua surged up 10%. >> thank you for that. joining us is a strategist at monument securities, mark. put the u. is ts. political newo perspective. >> markets hate politics. unlike central banks decision, you never know quite what you're going to get. they always assume, given history, that some say it will resolve itself. they're now being faced with this prospect that positions are extraordinarily entrenched in the states. the difference between this and the '95, '96 situation is '95 bill clinton was in quite a good position to face down all the beginning gri gingrich demands. in this situation mr. obama i don't think has any friends on capitol hill, either in his own party -- >> we don't care about budgets. it doesn't stop the number of shoes that are selling or the bottles of coke people drink, does it? are we worried about it for what it means for the debt ceiling? >> we are worried about it for the debt ceiling even though the

stock market story. the shanghai composite another 1% it fell 2% yesterday shanghai, which is the domestic chinese market, they have the shenzhen, the hang seng. the shanghai is down 20% in just six months that big drop causing china to lose its position as the world's second biggest stock market. financial times siz the c s saye market is just below $1 trillion the value of the u.s. stock market, about 31 billion a check of the european markets as well. a lot of numbers here, they're green. outside of stocks, here's the global currencies and commodities. the price of oil down a bit. 0.4% nothing moving except for bitcoin. what happened to bitcoin 8,000 seems like last week it was last week now at 7,361 let's bring in bill stone from stone investment partners. he likes to get up early and tweet early. anyone who tweets the simpsons at 4:30 a.m. eastern is a friend of ours. thank you for joining us i want to start with apple i know you're not here for single stock stuff, but does apple matter it's a dow component, but as a wealth manager, a fund manager, does apple matter to you fr

. the shanghai composite plunging 7% before suspended trading for the rest of the day. less than 30 minutes after the open. the rest of asia not reacting well to the news. losses of more than 2% in australia. equity futures are down triple digits this morning. down 375. looking at session lows after what has been the worst start to the year futures down 45. the worry is china. >> nearly 400 points now on the dow futures. as you'd expect europe also sharply lower after the gate. the dax dropping below 10,000 for the first time since mid october. julia joins frus from london. shared almost all the gains the dax in four trading days from hast year. >> you're absolutely right. we are 20% off the highs hit in 2015 back in april for the german markets but it's an ugly picture across the board. two factors you have been saying all morning. the intensification of the oil sell off and also in china overnight. a lot of people saying to us is this about further liberalization of the currency or is this saying something really serious, more serious about chinese growth? well the exporters stock

. a surprise sharp move down for the shanghai market. when the rest of asia really wasn't so affected. >> we haven't seen a move like this in china if about a month. a lot of people blaming the money market, the liquidity concerns, but also just the fact that china's stock market has rebounded 10% from its lows in january. perhaps that was a little overdone. this as g-20 finance ministers and central bankers descend on china to talk about the global economy and some of the problems. wonder how much the host will be the focus as a point of worry an concern. >> absolutely right. i think both the g-20 and this move in the shanghai market just reminds you of one crucial factor. have any of them actually been sold? they're all still issues as they were. it's just valuations that flip around. we might get a rally, we might not. they're all still issues that are out there. >> absolutely. we're going to take you to china later in the hour. let's show you what's happening with stocks around the world. this is important because there is some resilience in u.s. equity futures. you might see a 6%

after yesterday's historic swings. >> the picture remains bleak in china with the shanghai composite shedding. and riding the profitability. profits hit a 10 year low. the minor trading higher amid a rebound in the sector. >> brent and wti crude clawing back. gains after settling in the lowest level since 2009. also boosting oil and gas stocks across europe today. >> welcome, everyone to the show. we just did a read on the indicator for the state of the german economy and business ifo index, current conditions at 114.8 versus the expectations of 113.9 so slightly higher. looking also at expectations in 102.2 for the month of august. that's in line for expectations and sil to what we saw in month of july. the greek crisis and political impact in germany at this point doesn't seem to have had a big impact on german business sentiment. expectations for july at 102.3. >> let's get more on this. joining us on the phone. a pleasure to have you on the show today. will german business have to look elsewhere if china continues to weaken? that seems to be one of the big questions whe

their eyes focused on what comes out of the shanghai composite. the hang seng down 1.7%, as well. a lot of investors there apparently having jitters that the regulators aren't going to step in to pump up the markets again. certainly a lot of losses today. let's move on to what's happening in the energy complex with nymex light sweet crude. of course, we did see that bounce up to $70 a barrel overnight on a surprise drop in inventory peps but in asia trade, it is dropping by 63 cents in europe trade, excuse me, down to $68.56. we are looking out for that all important eia data later out 10:30 a.m. new york time. in terms of brent crude, keeping a tad above just above at $71 a barrel. of course, inventory expectations, crude expected at 1.5 million barrels. that's certainly a call by dow jones average and gasoline distillates to fall by 800,000 barrels and in terms of distillates 50,000 barrels plus. let's take a look at futures in the united states with bertha. good morning. good morning, chloe. this week, it's a seesaw ride down on monday, up on tuesday, futures are pointing to a lower

g-20 meeting in shanghai. we are seeing the shanghai comp up about 1%. hong kong is up 2.5%. shenzhen is down, albeit slightly, for where we closed today. >> do you think we can put any of this positivity down to the g-20? >> i think that would hold a selloff at bay, at the very least. perhaps not a big rally, but at least you're not going to get any sort of broad selling when you have all of those leaders there, all of this rhetoric about trying to keep the global economy stabilized. perhaps it's just a day phenomenon. >> exactly right. we have the china central bank governor as well saying he has levers to pull, perhaps getting a bit of confidence. the bank of england governor was speaking earlier, saying don't blame central bankers. there's other people to look at, as well. a lot of finger pointing. in general, i think we've just found a little bit of a bounce. oil sparked it halfway through the week. in general, it's continued through. i am surprised by the extent of the gains, particularly in europe towards the end of the week. the ftse 100 remarkably resilient this we

on that news hang seng slightly firmer. shanghai is down about a third of a percent the nikkei there, 19, 943. >> in europe, the imf agreeing to another greek bailout worth 8.5 billion euros. grea greece's stock index hitting the highest numbers in two years on the news europe mostly to the upside. german dax up about 0.4% ftse 100 was weaker earlier, now up 0.25% across the board a firmer opening in europe. >> the weakness in commodities has been a big story let's show you the broader market picture it looks firmer now this morning. wti crude is up more than half a percent. still below $45 a barrel 44.74. strength in brent as well up a percent, 47.36 nat gas higher by a half percent. as for the u.s. dollar, firmed up this week on the back of the hawkish fed. let's show you the action there. it's a bit weaker against the euro it is stronger against the yen that interest rate differential came into sharp focus when the fed maintained its hawkish stance and the bank of japan kept the rates unchanged and said it is not in a rush to exit from the extraordinary monetary stimulus as for go

world. >> staging a come back the shanghai composite posted it's biggest percentage gain after beijing takes drastic measures to stem the volatility. >> ecb plays hard ball with greece. >> central banks, although they do have the means, have no mandate, in my view to safe guard the solvency of banks and governments. >> computer says no. a technical glitch holds trading for more than three hours. raising tensions on wall street as details on the outage remain unknown. >> air france lands a deal with dutch pilots over pay and benefits clearing the way for its restructuring plan. >> hi everyone. i'm seema mody. coming up on today's show movers and shakers as some of the biggest names in business gather in idaho. we'll discover what black bustockbuster bids are in the work. plus would you turn down 30 murder in the second degree for a business idea? we'll show you what happened with the creators of a dating app appeared on primetime. >> chinese security regulator stopped large shareholders from cutting their stake. the ban will last six months with those not adhering to the rule fa

biggest selloff for the smaller cap shenzhen index in china for three years. the shanghai index was down 2% an important day of standing firm off the back of that today. shanghai is flat the rest of asia positive. this ongoing issue in china of late is focused on the government cracking down on various measures including trying to frighten credit conditions that led to a spike in bond yields particularly further down the curve. people have been focusing on that the selloff yesterday abating today. european trade is mixed. the focus has been on germany and coalition talks. possibility of the grand coalition coming back together the spd might be discussing things we'll discuss that later germany up 0.1% this morning the big event today is black friday up to 60% of consumers are expected to shop today courtney reagan has more from woodbridge, new jersey >> i love this day it's my favorite day all year for retail 115 million americans are expected to shop at some point today. this mall at woodbridge, new jersey is just now reopening they took about a five-hour break in the middle of the

world. european markets follow shanghai into the red. president obama holds a second ceo summit today at the white house, getting input from top business leaders on how the administration and congress can solve the crisis over, yes, the fiscal cliff. and origin tina's rating is slashed over five notches. we'll speak to a bondholder who once represented the country's creditors. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> as we get into the trading session here in europe, you can see behind me decliners outpacing advancers by about a 4-1 ratio, with stocks shedding about a third of a percent. we'll get to more of that shortly. first take a look at the forces individually to get a sense of where we're seeing the selling pressure and it is pretty much consistent. there's the ibex 35 down .7 of a percent. the ftse down about a third of a percent. not many green spots to find. yesterday we saw that rally in peripheral debt. today we're actually seeing firmer prices across the board, so whether the u.s. down there or italy and spain here in the

china today. the store is locateded in shanghai it features small batch roastings of rare and exotic coffees. starbucks is also partnering with alibaba to create an augmented reality experience this morning andrew ross sorkin reports live from the roastery among his guests are howard schultz and alibaba executive chairman jack ma i wish we could taste system of that rare and exotic coffee blend. >> it's a fascinating move for the company. they're rolling out these roastries to bring back the fact that they're a premium brand, not a mass market brand. also interesting how much howard schultz, though he's no longer ceo, he continues to focus on these roasteries he spent a lot of time on the shanghai one, and that tie up with jack ma, that will be a great set of interviews on "squawk box" coming up >> we'll stay tuned for andrew ross sorkin. >>> amazon officially launched in australia first orders were taken today. retail stocks rose in australian trading as many analysts took noted of uncompetitive prices for amazon across their platform also not some of the reports suggesting they did

more than expected, slightly less than expected in april. but we managed to see gains. the shanghai composite up a tenth of a percent. in hong kong, similar gains. and in japan the nikkei was up sharply earlier in the session. the weaker japanese yen, some talk of fiscal stimulus there but it sort of sold off into the close and managed to close higher by a third of 1%. >> the point to add with china is that the steady firm data the last couple of weeks has been a little softer. something to keep it on. yes, shanghai is up. over the market the shanghai market is down 8%. something to keep an eye on today. but steadily get iting lower there. >>> the german dax is down 1%. in france down three quarters a percent despite oil higher. >> the dax is closed with the spanish market down 1%. europe not following suit. thankfully, the u.s. futures are bucking the european trade. a mixed performance for the dollar today, nothing too significant. the euro is up about .10%. the yen is down .10%. and the pound is basically flat, 1.4353. we'll look at gold prices quickly, also gold currently in the

venture partner may be getting aid, as well. shanghai stocks bounced up today by 1.8%. some earnings coming out, for example, some of the airline companies in china, air china, for example, coming up with better than expected results and that helped to improve market sentiment on this wednesday here in asia. as for crude oil prices, let's check on the numbers for you now and see how nymex light sweet crude is doing for you at the moment. a gain of 41 cents here. brent crude, front month contract, trading a bit higher, as well, currently standing at $72.34. the weekly u.s. inventory reports coming out today, 10:30 new york time, a dow jones forecast is calling for oil to fall by 600,000 barrels, gasoline to drop by 1.1 million barrels and distillates to rise by 300,000 barrels. what does this wednesday have in store for u.s. stocks? for that, we'll check in with mike in the u.s. good morning to you, mike. good afternoon and thank you, maura. kind of an interesting move in oil after hitting $75 a barrel and closing lower. but here in the states, it looks like the dow, at least, could r

half percent. shanghai, 1%. japan eking out a small gain. a look at european trade. big move in the pound higher yesterday. that saw the ftse 100 move lower to the tune of 2.5%. it's taken today with a fraction more of a decline. the ftse 100 into negotiate sieve territory for the year. the rest of europe was soft. france as well down 1.7%. of course as we near the french election, there's been weakness there. the latest polls have macron, the center-left candidate at 24%. he will pen, the far-right candidate at 23%. let's look at the broader markets. >> oil prices under pressure yesterday. they're firming up this morning unchanged. wti crude 52.43. brent sits below $54 a barrel. even nat gas is just positive this morning. as for the u.s. dollar, a weak dollar day across the board yesterday. the dollar following yields lower, but popping back this morning against the japanese yen. so definitely the tape has a better sentiment. 1.0885 is the dollar rising against the yen. the dollar is also stronger against the euro. the pound was the real mover of the day yesterday, sharp, sharp ral

abu dhabi. the asian markets are recovering japan and asia higher. china barely shanghai up 1%, south korea was down just a bit. let's talk about one commodity you use every day in some form, oil. prices rising a bit. saudis talking about cutting output after racing it got more on that? ceo of commerce street capital how quickly things will change they don't want $60 oil. they want 70 to $75 oil and i'm talking about wti here. >> yes, i do, brian, good morning. i think you'll see cuts from russia and others as well. i don't think the supply problem is going to go away. >> they call that ropec, opec plus russia. it seems that the saudis and the russians have kind of come together, even a little more than opec as an organization would you agree with that? >> i do agree with that, and i think they realize what's going on and we'll get along a little better than people think saudi arabia, u.s. and russia are all at record levels of output and that doesn't seem to stop so they're going to have to be some cuts especially when you look forward >> 11.6 million barrels a day here in th

for hoef hype ended stimulus. financials were weakly today. the shanghai composite finished in positive territory. defense stocks soared as many are still hoping these stocks will benefit from beijing's plan to strengthen its military after territorial disputes simmer on. shares in hong kong finished a touch weaker dragged by industrials and growth-sensitive counters. and investors closely watching that hsbc china pmi data out tomorrow. the kospi ended down .8% mostly on concerns over domestic q4 earnings. technology shares retreated ahead of apple's report card due out later today. the afx 2 -- asx 200 closed at the highest level in 21 months. the h.p. bulletin gained after a half a year of iron ore output. nation data raised chances of -- nation data raised chances of another rate cut next year. >> thanks. ross? >>> thanks. print more to come on "worldwide exchange." coming up, a little bit later we'll be joined by john lipski, former director of imf. we'll get his views. deputy managing director. see you in a few minutes. what are you doing? nothing. are you stealing our dau

incoming data and see what exactly -- what is going on now in the economy. >>> the shanghai composite ends a month over 12% down as reports beijing will end large-scale shares approaches in favor of a more cumulative approach. >>> and malaysia, a sea of protesters take to the streets but the country's prime minister said he will not resign after a $700 million donation scandal. >>> okay. so it's the final trading day of august. it has already finished for asian markets, or most of them anyway. china has closed down the best part of 1%. it's certainly pared most of the losses it's facing for the day. overall, the course of the month, it's down 12.5% and of course it is now down for the year as a whole. having one point on june 30th, up 65% year to date, all of those gains and a little bit more have unwound over the course of the next couple of months. let's have a look at the nikkei which has suffered sharply during all of this as well. down 8.3% for the course of august. as the case for most global equity markets, a much sharper selloff, in the early part of last week, and j

japan trading up half a percent the shanghai composite about flat in europe, we have positivity there as well. looking at the german dax up as well the ftse 100 up. we are watching that german play out go up. they did get data in regard to the overall factory. the top story this morning begins and ends with earnings. today is the busiest day of the season more than 45 companies in the s&p 500 are reporting. take a look at this board. twitter, comcast our parent company here, visa, southwest, amazon we prepare for the onslaught this is how we stand thus far with the earnings report if you take a look as of yesterday according to data from refinitiv, 124 companies in the s&p 500 have reported. if every other report comes in as expected, you can expect s&p 500 earnings to decline by nearly 3%. on the other ide, can you see revenues up 3.2% digging deeper, here are some stand outs, first up, shares of tesla. those stocks are soaring as the company reported a surprise third quarter profits. even as revenues came up shy tesla is on track to deliver more than 360,000 vehicles it also says tr

breaking ground on a new factory in shanghai. we're going to take you there live and it was a golden night for netflix and amazon at the golden globes. will it help their investors we have all the big highlights coming your way on this monday, january 7th, as "worldwide exchange" begins right now ♪ ♪ the boys are back in town ♪ the boys are back in town ♪ i said the boys are back in town ♪ >>> all right. good morning, good afternoon, good evening welcome from wherever in the world you may be watching i'm brian sullivan it is good to be back. by the way, happy new year i've been gone a week. here are how the markets look coming off friday's nearly 800 plus surge for stocks. it's a new look for the week futures are down about 30 points again, wildly subject to swings here in the next couple of hours ahead of it very thinly traded at this hour, but this was a big day on friday with that 750 plus point gain for the dow jones industrial average the bond market reacting on friday as well you had that jobs number everybody said listen, the jobs number was nice but came down to j.

entire strategy off of. i would say the new shanghai is particularly sharp. i counted before i came up here, the 11th worst day going back to 1999 in shanghai. 5% drop in the market there. if you look at the charts, shanghai was really the market that first stopped going down, back during the october banking crisis. and so i guess people are worried that if shanghai is now turning around very sharply, it cut through the 50-day moving average like butter this morning. maybe that says something about the rest of the markets in the world. >> mark, this is christine. do you think what's happening in shanghai could have more lingering effects here in asia as opposed to what's happening in the u.s., for instance? >> well, if you look at the correlations of various stock markets, the mainland chinese stock markets are not tightly correlated to the rest of the stock markets of asia or the world. but they definitely did lead the others. they particularly led the oil prices, i must say. if you overlay the asia market with oil, you'll see they definitely led oil. you know, it's been on such a rip

their allies were doing or they're leaking information all over the place. >> china's shanghai composite after a state investigation into chinese brokerages sends shares lower into the close. >> online and in stores the black friday frenzy gets off to an early shop with customers understooding shops and online retail shops to make the best of the sales. >> now this just out in the last ten minutes or so. turkey's president erdogan has requested to meet vladimir putin in paris on monday. the kremlin declined to speak but president putin intends to accept the request. let's get back out to hadley. >> good morning, carolyn. what a difference a day makes. all we have been talking about is who must be advising him to keep him from at least issuing some kind of message to russian president vladimir putin and the question of course being what is going to come next? what is this going to mean for the turkish economy? we heard multiple reports of officials saying this can come down to sanctions and we're talking about the end ott dream of this oil pipeline we're talking about as well. p

-- here's the news, the chinese economy slowed the fastest in a decade, the shanghai rising. hang seng up as well nikkei fell. european markets in the red. italy, weak link down 1.2%. france, cac 40 down three quarters of a percent. you're watching "worldwide exchange" on cnbc, so as the name says, we are all over the latest global market action. our team of reporters and anchors are fanned out across the globe. willem marx is in brussels, but let's begin with the slowdown in china. eunice yoon is live in beijing with more on that. >> thank you very much china's economy is growing at its slowest pace since the global financial crisis. q3 gdp missed expectations, but it did put the economy on track to meet its full-year growth target these numbers were anticipated because it's the first time when investors and economists could get a sense as to whether or not the u.s./china trade war is having an impact on the chinese economy. there's some evidence to suggest it's starting. exports for the september quarter were surprisingly strong, but the industrial production has been slowing down it

the shanghai come possib posit. and the european markets like our futures, like asia, a lot of green on that screen as we talked about, germany starting to quietly outperform watch the dax up 1.1% this morning. let's talk about this nice little run we're in the middle of joining us is art. the day is dismal, the calendar changes. suddenly the market mood and all of the buying action what exactly has changed >> you know, it's interesting. we've seen a pivot did we do too much damage and how much of that can we claw back i certainly think over the last six days we've done an efficient job of clawing back. i think what we're looking at is not bad as what we priced in and perhaps we need to get back to neutral territory. >> we've been talking about corporate debt we go through quiet periods where companies can't buy back in stock we're back where they can. is that part of the thesis where the market falls and sort of support the market >> i think that's part of it obviously there has been a lot of questions about what the best use of cash is, whether you have cash on the balance sh

bleak in china. the shanghai composite falling below 3,000 for the first time in 8 months. >> dennis lockhart indicates it could delay the hike as they forecast the lift off to march of next year. >> and china's economy bottomed out. brent and wti climb back gains after settling at the lowest level in 2009. >> it was a rough session overnight. housing a big part of the story. we're just hearing from one of the luxury home builders reporting q-3 earnings of 36 cents. that's well below the analyst expectations of 49 cents. revenue was to come in around $1.03 billion and revenue coming in line with expectations. we should point out the stock closing lower yesterday following the broader market sell off losing about 4.7% but year to date up about 5.7%. responding to the housing data over the past couple of months but back to the market sell off. the dow seeing a 4,000 point move in one session. we just captured the highs, lows and where the dow closed. at one point in the beginning of trade we saw the dow down by around 1,000 points. some traders sending me pictures just showing traders

close correlation on sunday. the kospi is up almost 2%. the shanghai market up 0.6%. hang seng up 0.75%. a lot of optimism after that strong pmi data coming out helping to boost these particular markets. in terms of crude oil, it is recovering, climbing back above $70 a barrel after falling 4% yesterday. now up $70.52 a barrel. stock rallied, positive there. brent right now, $70.30 a barrel. hi, mike. good to see you. >> at this point, it looks like the start of the historically bed september might be off to a positive one. futures are pointing at least to a slightly higher open when the opening bell rings here in the states in, what, 5 1/2 hours time or less than that? the final numbers are in for august with the dow up 3.5% for the month, up 1.5% for the nasdaq and up 3.3% for the s&p 500. the problem there is that historically on average, the better the august, the worse the september. moving on to the treasury markets, we did see investors try to take safe haven in yesterday's sell-off in the stock market in the treasury market. and so the yield on the benchmark u.s. ten-year

trade though on the chinese stocks. the shanghai composite if the director could kindly give me a board we could take a look. can we have a look at shanghai? my friend in the gallery who pushes the buttons? do we have that? can we show you that? we'll pop it up in a moment here. thin trade today as far as the many of the asian markets are concerned. the nikkei and the korean market were closed. the shanghai composite in spite of making gains here today up nearly 9.5% is closing out the year on a weakish tone. >> should we have a quick look? this is a market that doesn't truly represent the state of the u.k. economy. we do have positive growth in the u.k. but the ftse 100 which this board represents is primarily made up of what financials and commodity companies which have been relatively weak across the year as a whole, therefore you end up with something that looks like 6,200 rather than 7,200. the slow down in china has impacted many corners of the markets this year. not least commodities on the equity front has been one of the worst hit. morgan brennan crunched the numbe numbers. >>

malaysia, mostly a weaker picture as you can see. the shanghai composite falling 3%. plenty of supply concerns given the ipo coming online. not only for the shanghai market, china actually had a pop of 28% towards the close. a lot more rational just as what the company head was telling the media today. but, of course, a lot of ipos coming on to this nasdaq and later this year to the tune of about $500 million. 13 approvals today alone, another 10 going on road shows. as you can see the hang seng market closing lower by .7%, as well. the crude tracking lower by 69 cents, 71.35, of course, the impact of the dollar trickling down to the energy complex and brent crude falling off by 78 cents and got to say hello to julia in the united states. good morning. >> good morning to you. let's take a quick look at how futures are trading ahead of the market open. looks like we're heading towards a lower open. dow is down by about 30 -- i'm sorry by nearly 45 points from fair value, nasdaq and s&p 500 also pointing to a lower open. this comes on the heels in which the week the market gained

capital controls. look at how that simpacti ings shanghai. slightly in the green. hong kong up 1 %. japan, where march export data showed stronger than expected exports, up 12% the past year, japan roughly flat as well. look at what's happening in europe. we'll focus on the french election and what that surprise call for a snap uk election might mean for what the bank of england does. that's in focus today. a lot of analysts weighing in on that look at how europe is reacting. if we can get those charts up. you can see germany is slightly firmer. france up by 1%. ftse slightly lower. spain is up about 1% as well. >> ftse had a rough few days. been down nearly every day this week. as for the broader market picture, starting with the currency board. and the u.s. dollar -- the action has been in commodities lately. some nice moves in the market. stronger euro, 1.0767. goes with that stronger france. strong dollar against the yen, 109. at that level. stronger british pound at 1.2835 which is partially why you are seating the ftse 100 in the uk down, and down sharply for the week becau

shanghai composite fired this week's sharp losses. the stock exchange announced it's slashing fees under the stock connect program. we are in singapore. what impact will that have as far as the hong kong move is concerned? is this a calm before an ongoing concern as far as the shanghai composite is concerned? >> i think it's part of a broader attack to reinvigorate market confidence and get a lot of gun shy investors back into the market. they seem to be fulfilling their task thanks really to beijing's reaffirmation and commitment to the stock markets. back in the market buying stocks, shoring up confidence. how long that is going to last is anyone's guess. the tizzy the market threw on monday when they got a wiff that they saw an 8.5% decline. we saw the government and regulators saying we're back in the market. the pbc injected more liquidity in the market. we're back up 3.5%. that's the best gain in 1 1/2 weeks for the shanghai composite. i would hasten to add volatility is probably going to be the watch word for this market for the near term at least because of the level of leverage

wall street despite the volatility that we saw overseas in asia. shanghai composite down. and in the meantime take a look at european equities. they seem to be following suit from overnight. the xetra dax down 91 points. a lot has to do with better than expected ifo data out of germany. 108 is the number for month of july, versus 107.5. perhaps the reason we're looking at the german market down at this moment. a quick look at bonds. if you're selling equities you may be buying bonds. we're looking ten-year german yield at 0.687. you see the ten-year yield at 1.9%. we're going to keep an eye on the u.s. with the fed policy coming up on wednesday, are the feds going to continue to raise the rate? that's the quig ing with question. the euro hitting that better than expected business sentiment out of germany. as you can see, we're holding on right now 0.8%. that could reverse once we hear from janet yellen this week. keep an eye on japan overnight. let's take a look the at commodities shall we? it was the worst week for bti crude. copper trading at a 6 1/2-year low. and brent crude down

pmi hitting a 19-month high. asian markets higher off the back of that. shanghai and hong kong particularly strong. they were closed the last couple of days for international holiday. shanghai up 1.5%. we got some fresh data out of europe. uk march services pmi coming in at 55. nicely above consensus. it comes off the back of disappointing manufacturing and construction pmi the last two days. as we know, services pmi the most important one for the uk. 68% of the ik econouk economy. eurozone pmi at 56. expected at 56.5. the composite pmi, factoring in that manufacturing number for the week, 56.4, slightly below the flash reading. european markets, just to see, essentially flat today. germany a bit soft. comes off decent gains yesterday. >>> that was thanks in part to oil prices which are back on the rise. going back to early march levels for oil. strong again this morning. wti crude, 51.57, up a percent. it's wednesday. we get that government inventory data later this morning. brent hovering just below $55 a barrel. up more than 1%. as for the u.s. dollar, sort of on the back bu

>>> we're live in london, moscow and istanbul. china's shanghai composite wipes out most of this month's gain after chinese brokerages sent shares sharply lower into the close. russian president vladimir putin tries to put up a united front over syria but threatens to pull out of the u.s.-lead coalition over the shooting down of the plane. >> either they were not controlling what their allies are doing or they're leading misinformation all over the place. >> turkey's minister has to work after moscow threatens further economic revenge. >> online and in store the black friday frenzy gets off to an early start with customers flooding shops and online retail shops to make the best of the sales. good morning, everyone. it's friday and we're under pressure today. off by 0.1%. ftse 100 off by 0.4%. many of the stocks coming under pressure. we're off of it in part of what happens in asia. driving the shanghai comp to the worst weekly performance since august. this as the industry comes under investigation for possible violation of the trading rules. reminds us of the summit, doesn't it?

worst quarter in quite sometime. let's flip the page and check in with shanghai as well. speaking of worst quarters, worst quarters for shanghai and also indonesia since 2008. you have to go all the years back to the global financial crisis and who better to join us to talk about the declines and the exits of bond markets than sri who is with us in london. >> susan, it's going to be a very interesting final quarter for the chinese markets and the broader economy. let's not forget if you take a look at the quarter, the almost end of the third quarter, the china markets are down almost 29%. so that represents the worst quarter since 2008. since the death of the financial crisis. in terms of the narrative it's really about the policy signals both with regard to stabilizing the economy and international in the stock market. we received very mixed signals in terms of how beijing is dealing with the capital markets. in terms of the stock market, are they in the market? are they cheer leading the market or at the speculative end? we don't know. we have mixed signals. we need more clarity

very surprising. china stocks, they didn't fall the shanghai komt poft up 3% overnight. perhaps a sign of optimism that a deal will get struck and have buyers coming in as part of china's massive stimulus program. japan down fractionally. the hang seng, shanghai composite are up the biggest economy in europe, one of the biggest in the world. that stock market up exactly 1% right now. every major market in europe is higher trade, a bit surprising. you're not seeing some kind of major move in the price of oil you might think oil would fall because of tariffs and prices go up things slow down the use of hydrocarbons would fall all right. let's talk about all this impacting the u.s. china trade and your money markets, the economy, and the short and long-term, and bring in liz young, director of market strategy at bny melon investment management also, lindsey, chief economist at stiefle are you surprised we're not seeing more of a massive negative reaction by our futures at the asia markets? >> i'm not surprised we didn't get it done yet today, and the important thing to remember -- >> appa

world. stocks in china sell off as volumes hit a session record high. the shanghai composite hosts the biggest fall amid long going liquidity concerns. the nikkei with the longest winning streak in 27 years as the yen continues to follow verses the dollar but the bank of japan governor tells cnbc it's nothing to do with qe. >> we don't think of any asset bubble bubble. we cannot allow instability. >> european stocks in the red as officials dampen hopes of an imminent deal with greece. ecb board member tells cnbc the central bank won't bend the rules to save athens. >> one has to be quite clear. we do not have a possibility to do financing. >> meanwhile, fifa presses ahead with it's presidential election. this as authorities reveal the number of authorities arrested for criminal charges are facing extradition to the u.s. >>> welcome to worldwide exchange. record volumes in shanghai as the composite index ended the session down 6.5%. this after the chinese stock index closed at a 7 year high in yesterday's trade. why did we see such a big sell off in the chinese market? let's get to

meeting in june. >> the shanghai composite shrugs off fears of deflation as chinese cpi physicals to a five-month low. >>> stocks fall again after closing out the worst losses since the 1980s. the man who led the country into the euro warnings a snap election could cause disaster. >> this scenario without controversies, without the social and economic disaster. >> jamie dimon's jpmorgan reportedly needs over $20 billion of additional capital to comply with new rules unveiled by the fed. but the bank says it is well capitalized and will deliver strong returns for shareholders. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> welcome to the show. so, seema, the last couple of days, there's been a terrific off sentiment, but i think it's interesting to point out what happened in the u.s. it opened down yesterday. europe was down 2%, china was down 5%. but the fact that it rallied throughout the day i think is a bullish signal for the u.s. equity market in the short-term. it shows a little weakness when people are willing to step in and buy aga

trading was halted. the shanghai composite down nearly 7% as we look at things. shenzhen composite down. weak manufacturing data showing china contracted for a fifth straight month in december. the rest of asia showing lots of red numbers as well. the nikkei opening with its biggest one day slide in three months. check also the dollar yuan. >> china is setting its currency weaker. it's at the weakest level for years. that's a big uh-oh for markets around the world. it reflects that china's market is slowing. the weak manufacturing report that you told us about. obviously we have seen that when china devalues its currency it matters to the rest of the world. that slide in chinese stocks down 7%, circuit breakers were put in place to start today and they actually had to use it that day halting trading. >> as you say, it's more on the yuan moves than the pmis. it's passed 6.5, the first time since 2011. it reminds investors of the transitions that still have to take place before people can think that everything is moving in a free market sense. so further devaluation today. just one f

you to the shanghai's $44 billion world expo. >> and also who's next, if there is a next? greece has its bailout. does it just beg the question, though, of whether or not there will be other countries that will have to go, cap in hand, to europe? come back for more on the other side of the break. >>> welcome to "worldwide exchange." the headlines we're watching today. here in asia, mining stocks in australia plundered after the government unveils plans to impose a hefty 40% tax on resource companies. >>> in europe, there's agreement on the bailout package for greece. plus share markets express skepticism as stocks fall across the continent. >>> and in the united states, continental and united airlines set to announce a merger today creating the world's largest airline. >> hi, everybody, welcome back again, this is "worldwide exchange" brought to you from europe, asia and the united states, as said, we're looking at the ftse global 300 index this morning indicating that european markets opened just slightly to the downside. off by 0.4%. we're saying they failed to hold onto gains. let