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CNBC Squawk On The Street December 8, 2014

Jobs number friday. Markets slipping after weak overnight data. Present hitting new fiveyear low. The dow as we said within nine points of 18,000 and retreating today. Merck buying cubist more than 18 billion and cash. Comments late in the hour. Mcdonalds delivers another weak number. Sales missed the street, down 2. 2 worldwide. More than that in the United States. Well get to all of that later on. But first up, dow and s p, each posting a sevenweek winning streak since late november of last year. Blue chips within 48 point of the 18,000 mark. Futures falling on disappointing chinese trade data. Japans economy shrank more than initially estimated in q3. Crude falling to that new fiveyear low. Morgan stanley cut its forecast, oversupply to peak in the Second Quarter next year. But in their words, guys likely to get worse before it gets better. Once again, i mean, heres here we ....

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