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i am francine lacqua. manus: it is. i am manus cranny. first, the global standoff. shares plunged the most since 2000 seven. francine: that european stocks are down in the red. commodity prices sinking to a 16 year low. rest ine will have the a moment. let s get at the very latest in europe. caroline, take it away. caroline: disaster is what one chief officers calling it. we are seeing a major selloff. shanghai composite, check that out. down 8.5%. the worst since 2007 despite moves by the chinese government to stem the bloodshed. they are trying to support with pensions. the rumors are reserve ratio cut to the banks that did not materialize. down goes asia and the affect on your. we are in correction territory. and the effect on europe. we are a bear market. if we close at this level, we will between 2% of our previous high. not one single stock is rising. concerned about global growth and infrastructure. bmw, feeling the pain. credit squeeze saying that the auto mar ....
more rate hikes this year? amazon ascends. the stock topped $1000 a share in the u.s. yesterday but how much more room do stocks have to run with the record rally? we are half an hour away from the european open, from the open of cash trade. take a look at where futures are trading right now. we are seeing gains for most european indexes, a little bit of a loss for dax futures but the futurese in action. we have not seen the asian news carry through yet as far as index futures go. theo see it if you click on gmm screen, you can see in the forex, the renminbi, the yuan getting a big move. anytime you have a black oxen the middle of one of the panels on a gmm screen that means you re seeing a move that is more than three standard deviations away from the 30 day average. you see it here in the renminbi on and off shore if we take that and and pull out the bonds commodities, you re going to see china highlighted again here as far as the move with the sovereign bonds, the fi ....
the month of december. that was the highest reading since february of 2011. so a bit of weakness in the month of january. looking at the sub components, the ifo current conditions index is at 116.9, bang in line with the forecast. but the headline index below expectations. the expectations index is at 103. once again below forecasts. louisa, yesterday we saw a mixed performance when it came to the pmis. the services number for germany was below what analysts had been anticipating. manufacturing was stronger. overall the fourth quarter in germany has seen a strong end to the year what we re seeing in january is a more mixed performance but a continuation of that overall strongish trend. some say there s the seasonal factor at play, i think it will be interesting to see how this data holds up, especially after some of the projection indexes on optimism given the huge changes we re seeing in the states on policy. whether or not that filters through. glancing at european ....
programs with coxe cuts. slashing costson be enough to keep investors on board? matt: less than one half or now or wait till the open. european stocks futures pointing down after a down finish yesterday for both the u.s. and europe. the narrative here is that investors are concerned about political uncertainty, political terminal. as a result, fleeing for the safety of safe even assets. are you seeing that on your gmm screen? is: let s see what happening. mario draghi saying the euro is irreversible. certain people in france may disagree with that. the markets on the equity front got smacked around yesterday. italy down 2.21 percent. the euro is weak for this morning, down by 6/10 of 1%. trading at 106.84. on the markets getting into gear now. bond markets getting into gear. france tighten their tightened. italy and greece both whiter. wider. the focus on the periphery. it blair yesterday. that story looks like it may have traction. thatep talking about throughout t ....
cheered a deal that creates second largest fund manager. it s the end of the road for gm in europe. psa agrees to buy for $4.2 billion sending shares higher. former director of national intelligence tells nbc there was no wiretapping of donald trump after the president accuses his predecessor, barack obama, of a watergate-style scandal. good morning, everybody, and welcome to street signs. deutsche bank shares hitting bottom of stock 600 of a after the group announced a strategic overhaul, 8 billion euros and reits issue to take place in march. they will list minority stake in asset management business to achieve capital ratio target, quote, comfortably above 13%. at a supervisory board meeting taking place over the weekend, the bank announced changes to its executive team, essentially chief financial officer and retail head named co-deputy ceos. they will work alongside chief executive. they will be uniting corporate finance, its global markets and its banking ....