March of 2011. We start off much like europe with weaker than expected pmis. Will that paint the first big data picture and supply information for the rest of the year . Im not sure. We just breached that big settlement from october 15th at 2. 14. The 10 year at 2. 13 bund getting closer to 40 basis point handle. Unbelievable the money into bonds. Lets bring in david rosenberg. Anything to worry about there with the miss in manufacturing . Its still a pretty strong number. Well its a diffusion index. 55. 5 is telling you net on net Manufacturing Activity despite all the problems globally in the u. S. Is still expanding. Its just expanding at a more moderate rate than it has been over the course of the past few months. Its still positive for manufacturing. Just less so. To me it still consistent with an economy id say chugging along roughly 3 trend rate of growth right now. Which is good. Its been a 2 economy since the financial crisis. Well take that 3 . We are starting off the new yea
Jobs number friday. Markets slipping after weak overnight data. Present hitting new fiveyear low. The dow as we said within nine points of 18,000 and retreating today. Merck buying cubist more than 18 billion and cash. Comments late in the hour. Mcdonalds delivers another weak number. Sales missed the street, down 2. 2 worldwide. More than that in the United States. Well get to all of that later on. But first up, dow and s p, each posting a sevenweek winning streak since late november of last year. Blue chips within 48 point of the 18,000 mark. Futures falling on disappointing chinese trade data. Japans economy shrank more than initially estimated in q3. Crude falling to that new fiveyear low. Morgan stanley cut its forecast, oversupply to peak in the Second Quarter next year. But in their words, guys likely to get worse before it gets better. Once again, i mean, heres here we go. Theyre weak, thoi this is our strength. When europes down, by midmorning the money comes here we have the
Don thompson gone. President and ceo both titles. Qualcomm has cut its forecast for revenue, increasing competition in china. Which had a host of problems. Bloomberg had all reported shares getting hammered in afterhours. It appears that the latest round of ibm layoffs and started. Workers Rights Groups have notified the exact number is unclear. He has left after being passed over to lead the division at ibm. Facebooks mobile machine cranking out 3. 8 5 billion. 296 million, percentage of ad sales from mobile is 69 over the quarter. It is a mobile company. The social network says it has more than a billion active users. For more, im joined by David Kirkpatrick in new york, author of the facebook effect. She is presudebntident a strategic partnerships. How do you see this playing out . It is almost getting boringly predictable. They have beaten nine or 10 wars in a row. I thought it was so interesting how zuckerberg answered questions about putting the wrong emphasis in the developing w
The nasdaq lower by 15 and the s p 500 lower by 7. Andrew . Thank you, michelle. Hope you had a good weekend. Well tell you about the Corporate News as pimco is working to assure clients it has a solid team in place. Thats what they are telling everybody to manage their funds following the very public departure that surprised so many of us of founder bill gross that happened right here on the air on squawk friday. The bond giant has seen 10 billion in outflow since that news first broke. And the wall street journal now saying some are projecting withdrawals could hit 100 billion or more. The ripple effects from gross departure being felt far beyond pimcos doors. In Newport Beach they dropped upon the gross news. Also, meantime pimcos new ceo doug hodge says they are moving away from the founding. In an interview the total return fund run by gross does, in his words, decline pimco. Well tell you other Financial News this morning, Goldman Sachs tightening its interest rules on investment
Energy actually is the Leadership Group with oil touching that fiveyear low and then getting a little bit of a bounce and energy names with it. Lets talk about the markets. Joining us now is dani hughes and kenny pulcari, diane gartnick and our own rick santelli. Dani, what do you make of todays move . It occurred to me months now we have one story of the stock market. Its great. Commodity and bond market tells us theres manager to worry about. What does today tell you about where we come down on the question . We dont know. We have seen the market fall off dramatically today and come back dramatically, as well. The underlying issue of oil and oil prices is big one and you see the dichotomy, as well. Consumers are benefitting and you see housing prices rising, as well, so they have a lot of juice in that and then the job recovery, as well. But then you see Oil Producers getting hit very hard and the concern about the price of oil and domestic Oil Producers and how to make money going f