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
And the Tropical Island of puerto rico cuts the debt to junk status and warnings of more downgrades. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. And a warm welcome to today. Youre wearing green, very appropriate. Exactly. The final pmis out of the eurozone, january final services bmi, 51. 6. It was the flash, 51. 9. So it has come down slightly. New business pmi, 51. 8, the flash is 50. 1, and the final composite, 52. 9. A little weaker than the flash of i was trying to pull up the french number, as well. The composite employment pmi in line, as well, on that one is worth pointing out, as well. So its the high final reading since june 2011. It separates expansion from contraction. A little weaker than the flash number. But an encouraging start to the year, so says Chris Williamson in for market who was in on monday. Well get the visit breakdowns on that. Im very interested in the french number in particular. Hang on. 47. 8. January ser
Havent seen inflation. Because investors have spent so much time tapering, investors are interested in bond yield. If youve been watching the tenyear, right now the yield is at 2. 827 . Also, october wholesale trade and the labor departments latest job openings and latest Turnover Survey that a lot of economists watch closely. Futures at this hour are indicated higher, dow up by just about 20 points, s p up over 2. 5 points. And a big call today on Deutsche Bank. The firm says that a horde of pent up cash means that the stock partys punch bowl isnt running drooi dy anytime soon. Deutsche points out shored up cash is likely to make its way into equities in the next month. Andrew, good morning. Good morning to you, becky quick. Thank you very much. We have Corporate News for you this morning, as well, as joe was just mentioned. The u. S. Government is now officially out of gm. Theyve sold their last shares of general motors. Tack payer res taking a welcomed 10 billion loss into the autom
It is jobs friday, the bulls are betting that this mornings employment report will add fuel to the markets report run. But theres always that risk that the numbers could rerail the rally. We want to talk about this. Plus, cash back. U. S. Companies are showing investors are love with the windfall of dividendes and Share Buybacks. Plus, stress tests. The major banks get a passing grade. I think 18 out of 19 from the Federal Reserve. Still, critics say questions about the health of the Financial System remain. Its friday, march 8th, 2013 and squawk box begins right now. Good morning, everybody. Welcome to squawk box here on cnbc. Im barack obama along with joe kernen and Andrew Ross Sorkin. Happy jobs friday, everybody. Double whamny today, not only is it friday, its also a jobs friday. The full forecast says 160,000 jobs were added last month. I cant believe the which is fer numbers arent higher than that. Ive looked at a lot of numbers that say its above 200,000. The Unemployment Rate