Earnings. Olivia take a look at those declines, you are seeing major benchmark indexes in europe all up 2 or 2. 5 . And the broader continental benchmark off by 2 . Sour sentiment coming over from asian markets, but also Economic Data coming out of germany this morning, perhaps. Pimm there was market moving you cant out of germany. Olivia german Business Confidence is up today. You would have thought that would have produced pimm maybe theyre looking at china. Everyone is looking at china. Top headlines, stocks lower in china. The shanghai composite falling 8. 5 , the most since 2007. Investors are concerned the Chinese Government may hold the steps it has taken to prop up share prices. Earlier, the head of the council on Foreign Relations called a nightmare scenario for chinas leadership. The question is where does this government, where does this party get his legitimacy . They cant quite figure it out if markets cant work. These are broadly participated in markets. The real problem.
Friday. Right now, its time for squawk on the street. Good morning, welcome to squawk on the street, im melissa lee with jim cramer and Brian Sullivan. Carl quintanilla has the day off. What we saw yesterday earthquake the best day for the s p and the nasdaq over a year. Data out to contend with, an adp number in december, jobless claims, may be taking a breather in todays session, the dow looking to lose about 33 at the open. Take a look at the picture in europe. Does also look like europe is taking a breather. Yesterday, it is worth noting the stock indices there hit 17month highs. We are seeing a down day almost across the board a road map, starts with the new years rally, where we go from here. The dow surging more than 300 points, closing at two 12 1 2m highs yesterday. Leadership from technology and financials, a boost today with upgrades. Lots in the coming days. The big jobs report tomorrow. Oh, yeah, the battle over the debt ceiling and spending cuts. Retail doordie, december
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