Im stephanie ruhle. Eric was under the weather this week. Im happy to be back. Breaking news about the housing market. Home sales for december are out. Scarlet fu is in the newsroom. Unexpected decline in the number of contracts to buy previously owned homes. It comes from the National Association of realtors. A drop of 3. 7 for the month of december. That is the biggest decline in the the year. On a yearoveryear basis, pending home sales increased 8. 5 . That a small at the what economists were looking for. They were into speeding an increase of 10. 5 . S p 500, paring it is extending losses following the news. We have the 10 year yield pretty much where it was. We will continue to monitor all of this. The fed has said it is data dependent. This shows the housing industrys recovery is still on even. That a scarlet fu with the latest. Lets take you to the bulletin. Top is the stories. Shares of alibaba are getting beat up today. The stock fell as much as 7 after the Chinese Ecommerce C
The greek central bank. Today it is greek greece versus germany. Warren buffett is saying the fed will find it tough to tighten rates. Lets check in on some of the stock moves is see this morning. They have their numbers down 1. 4 in terms of some of the individual names, bt did the deal of 12. 5 billion pounds giving deutsche calm a stake in the business deutschecome a stake in the business. What you have there is a delivery by para boss paribas, the lowest annual income since this company was put together, bnp and paribas. Corporate and Investment Banking did a little bit better year on year. 556 billion euros. Legal costs of 1. 1 billion. This is the big gear producer in switzerland. Demand up . 72 for the salesman and they have appointed a new chairman. They say all the growth this year will be around 10 . Jonathan so much to watch this morning. Looking at a lower market open here. The dax is a little lower as well. Since the market opened here in europe, of course it opened domina
That the extreme rhetoric coming will not abate the worries of greece exiting the eurozone. There is worry about tensions raising in the ukraine. Could the u. S. Arm the ukraine . There are meetings going on and the finance minister is gathering. The leaders of germany, russia and france are getting together with the eyes on the concerns brewing in russia and the ukraine. Lets look at the bond market and you can see it flowing into germany. The u. S. And money going into treasuries to drive the prices down. Greece has real concern up another quarter of a percent this morning. Clearly, there is risk aversion and the bond markets and europe is up a quarter of a percent. Checking in on the weekly move we are seeing something that is generally playing on the downside and is flat on the week. You can see that it is moving in a downward trajectory. Lets have a look on the back of oil and what it is doing. You can see it down and there is clearly concern. We saw the reprieve last week and it
Outside the United States, is this the time for more hawkish tone for the fed . Tthe wall street journal reporting that is what we will get from the fomc next week. Another profit warning for tesco sends the shares in london sharply lower in trade. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Its been a roller coaster session for chinese stocks with the shanghai composite and shenzhen heading lower. The selloff appears to have come amid media reports the countrys leadership is setting the stage for lower growth as it meets today. The peoples daily running with a headline warning that a high growth was the, quote, new normal. Care horry, thanks for joining us. Lets kick off with china. An extraordinary move today. Is this based on the headline that they might cut to 7 . I dont think that a slowing china is news to anyone. Weve seen this happen in athens this year. Its clear that theyre going towards an economy that is more consumption. T
A diplomatic offensive to win support from its european allies. It is part of a bid to renegotiate austerity terms imposed by international lenders. And now finance minister jan is very focused is in london for talks youngest mayor focus now finance minister yanis var oufakis is in london for talks. Prime minister Alexis Tsipras said greeces exit from the eurozone would be an indication of southern europe, speaking from cyprus in his First Official visit since last week. Alexis tsipras, sidebyside with nikos existing youngest with nicos anastasiades. They are dealing with tough austerity measures imposed by the troika of international lenders, the european commission, the ecb, and the imf. Europe needs air to breathe. For that, we need the support of our partners. Its about achieving economic growth. Both countries have good relations with moscow. On monday, citrus ruled out taking tsipras ruled out taking age from russia, but he said taking aid from russia. Meanwhile, greek finance mi