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overnight. the market bounce back, stocks bounce to a higher open after friday s 600-point rout, despite the chinese suffering biggest declines in years. coronavirus claiming more than 360 lives, more than 17,000 confirmed cases worldwide and the question for the markets is just how fast could this spread around the world and hurt the world economy? and facebook ceo preparing for a backlash, what the social network is planning and why mark stuckerberg says it s going to piss a lot of people off. stocks are looking to recoup some of friday s big losses. the market impact of the coronavirus was evident in china overnight. the first trading day since the new year holiday, shanghai closed down nearly 8%, wipes out nearly 400 billion in market value. friday s sell-off drove the dow and s&p into negative territory for january. the nasdaq up 2% for the year but everybody s talking about the degree to which china s shut down and how responsible though are for global growt ....
stocks pull back at the open on a big day for corporate results. p & g dragging the dow lower comcast and travelers with better than expected results. plus the ceos of both southwest and american airlines will join us to discuss this morning. and live from davos, sara is joined by the secretary general of the u.n. later on this hour first up, though, a ton of earnings to get to we ll start with p & g beating estimates by 5 cents a share sales did miss, hurt by a stronger dollar. don t see that too often comcast beating on both the top and bottom lines cable division, record quarterly net relationships. all-time high in the premarket here s what the chairman and ceo brian roberts said earlier on squawk. we made a pivot to a broadband centric cable company that whether it s for streaming or gaming or any other app that you re interested on your television, the best wi-fi, that s the number one product, that s what we go to market with we now have a mobile product a ....
as in we ll go higher unless this or that happens to derail us my problem, even on an encouraging day where we opened down hard an round, i like that the dow only dipping up and inching, nasdaq advancing 2.0%, wow, there are a lot of unlesses out there. it makes me a little more concerned. we ve been experiencing pretty sluggish days lately, and that works off the dreaded overbought condition. so you know what i m going to do tonight i m going to tick down the unlesses that need to be on your radar screen, even if you re a snorting stampeding bull unless you re a norman, the breeding bull we brought in to impregnate our late longhorn ambush he just charged around all over the place instead of doing his darn job that was back when i was trying to be a gentleman farmer that is an earlier version of yes, you guessed it, jimmy chill. for every other bull, though, here s what unlesses you should be thinking about. the first unless boeing. we interviewed gary kelley, the ceo ....
first. but what if the definition of safety is changing right before our eyes what happens when what s prudent becomes what is reckless and what used to be reckless becomes responsible? that gentle viewer is exactly what we re seeing in this market right now. including today. dow gained 71 points nasdaq declined .11% but will change tomorrow when we see the reaction to huge quarters tonight. right now it feels like we re at beginning of first truly worldwide economic expansion since the 1990s. when i say worldwide, not china so strong can drag the world like a caboose i don t mean the euro zone is getting its act together or u.s. is healthy enough to be the engine of global growth or russia, india, china are driving the bus. i m talking the whole darned thing doing better the planet, with the exception of venezuela when the entire global economy starts humming, you need to change the way you think about stocks it s been a long time, i ve been at this 40 years, you got t ....
i mean, up or down. let s just see. the european markets have been open for some time. there we can give you some actual answers. also, well, largely down other than the ftse in the uk which is up. but no great moves there. thank you for italy and spain in the control room. i like to see a broader picture other than the big three. as for crude oil which we go to next, 2.276. wti back above well above it s kind of a stealth move there a little bit. that s all talk ahead of the opec meeting. hot air? yeah. the saudis have cut back by 500,000 barrels because the u.s. is increasing by that much in if next four months. so interesting. we ll talk oil during the show but let s start with retailer. two are falling sharply. tiffany with a surprise drop in same-store sales and lowe s also missed on its top line. plus, we re awaiting a new outlook from the fed. the u.s. futures are more or less flat after the longest winning streak is extended. over in china, a downgrade ....