Closing at 4,218. This as investors fear further crackdown from regulators who are tighten irthing grip on beijings soaring markets. It was very toll avial and the emphasis of course was on the Greater China markets. Yes, we saw that action by the authorities in beijing over the weekend with a rrr and they cut it more aggressively than most in the market did expect. 100 basis points and the aim here is to encourage credit growth, to encourage bampings to to get liquidity going. Initially we did see a positive reaction. We saw china stocks up by 1 . They did reverse course and as you pointed out, down by 1. 6 at the close. Lets net forget as well that the authorities in beijing, the securities regulators are trying to take the steam out of the market rally. They clamped down on margin financing. Lets not forget this very staggering statistic, we have now surpassed the 1 trillion yuan mark. It could be a brutal one if it is corrected. That is probably the overriding factor here. That is
Nasdaq up most of the day but slid. 14 . Yep, blame it on the movies. Let me explain. Back at my old hedge fund, we had a year, 1993, 20 short years ago, where we just shot the lights out of the market. We were on a major roll. We were up more than twice the s p. My stock picking, it couldnt have been hotter. Everything i touched went higher. It got to the point where i actually believed that if i bought it, it would go up. Buy, buy, buy. Its kind of like how i am with the phillip eagles. I wore a signed brett celek jersey the other day, a eagles tight end and the straw hat to the home game we finally won after a streak of losses. Same thing last weekend. Im convinced its why they beat the lions in the snow bowl. Its weird if they lose. Thats how i was with stocks in 1993. I wore a green gap shirt to work every day. I convinced myself as long as i was wearing the shirt, as we called it, i had the mojo to pick winning stocks. Karen cramer was running the trading desk back then and we sa
Way into proving he can be commander in chief. The president has proved he can be commanderinchief on the job. The president is all talk and no action. He talked about getting rid of al qaeda and terrorism, and we had that horrible disaster in libya. Overall, the economy at home is still a hot issue for voters. It is hard to divorce domestic Economic Issues from Foreign Policy issues, whether gas prices or the trade deficit or the Economic Situation in greece or in spain. Whether on the economy or some of these international issues, both candidates will be hoping to showcase their leadership abilities. New polls show the race getting tighter than ever. It should be interesting. You mentioned we will likely hear about the relationship between israel and iran and the war in afghanistan. What other topics might they be discussing tonight . Most of the topics relate to the middle east. There was one on the rise of china and some questions about the eurozone. The first segment is titled ame
Good morning. The days top stories, the battle of the bull as is s p comes off its first weekly loss of the year. On the global front, european markets are trading nervously amid election uncertainty in italy. And in hollywood, argo stormed to a best picture victory at the oscar hes. Its monday, february 25th, 2013 and squawk box begins right now. I thank everyone on the movie, worked on the movie, did anything on this movie gets thanked. I want to thank canada, our friends in iran living in terrible circumstances right now. I want to thank my wife who i dont normally associate with iran, but i want to thank you. Good morning, everybody. Welcome to squawk box here on cnbc. Im becky quick along with joe kernen and Andrew Ross Sorkin. Were watching the u. S. Equity futures at this hour and right now it looks like there are some green arrows. You can see dow futures up by about 50 points in fair value. S p up by just about 7. Joe mentioned the oscars. He was very excited about this. If yo