let's bring in eunice yoon who joins us with the latest today. >> eunice, well, we'll check in with eunice in just a little bit. we're having audio issue but the yuan we've seen it's on shore weakness at the lowest in four years and i don't think that changes with a quarter point hike from the federal reserve. >> probably not but the bigger fear is more devaluations going into next year. anyways goldman sachs is saying the price will remain below $40 a me trick ton in three years. it came about a year earlier than expected and sees the price at an average of $38 a me trick ton in 2016. it sites a slow down in china as the reason. fed chair janet yellen is surprised by the continued decline in oil prices but says the fomc does not need to see prices rebound. yellen added all they need to do is stabilize. there's some limit below where oil prices are unlikely to fall he expected it to be higher a year from now. he says sometimes you can have too much of a good thing. >> i think the market is concerned that the price of oil and the price of commodities generally are forecasting some kind of d

eunice and rosemary 19. the young man in the case is brother jack. that's one few times the world heard from rosemary. but contend siblings here would change way world thought about people with disabilities. so much of it all began because of you know a woman in my family who had very little intellectual capacity compared to you know my awning el jack oh bobby or my mom or my dad but had sort of hidden secret gift that only comes from god. like her older brothers rosemary was born at home in brookline. complications. rose was ready to deliver rosemary but the nurse held baby for the doctor to arrive. and of course that deprived ross mary of oxygen. and so we link her intellectual disabilities to that moment. kate clifford larson wrote new best seller rosemary the hidden kennedy daughter. for years rosemary attended special schools but always traveled with the family. when her father became ambassador to england they all moved to london. this really was the best time of rosemary's life. but world war ii forced everyone home. and that was the beginning

. >> kennedy girls, eunice left 16 and rosemary 19. the young man is brother jack. >> hi, rosie. >> hi, jack. >> christa: that's one of the few times the world heard from rosemary, but the kennedy siblings would change the way the world thought about people with disabilities. of a woman in my family who had very little intellectual capacity compared to my uncle jack or bobby or my mom or dad but had that hidden gift that only comes from god. >> christa: like her older brothers, rosemary was been at home in brookline, but this time there were complications. >> rose was ready to deliver rosemary, but the nurse held the baby back in the birth canal to wait for the doctor to arrive, and of course that deprived rosemary to lack of oxygen. we link her disabilities to that moment. >> christa: kate clifford larson wrote the bestseller "rosemary: the hidden kennedy daughter." she says for years rosemary attended special schools but always traveled to the family. when her father became ambassador to england, they all proved to london. >> this wa

but as eunice yoon reports from tengshan, china the steel sector of the world's second largest economys also struggling. >> reporter: outside a government office in the biggest steel town in china a face-off between police and workers who demand payment after a steel plant here shut down. "we want our back pay and our medical insurance," he says. "we're not asking for much." thousands of workers lost their jobs at the tang suntin 34r57b9, one of numerous mills that have gone under across the country. already this year china's steel association estimates the industry has lost nearly $9 billion. these people say that the factory has turned its back on them, so now they're pinning all of their hopes on the government. but the authorities seem more concerned about silencing them and us rather than listening to the workers' concerns. tangshan is home to more than 300 steel mills. in recent times it's turned out beans and coils for china's roads, bridges, and new properties, producing more steel than the entire united states. but with the economy slowing down the city's once mighty industry

for "nightly business report," i'm eunice yoon. >>> to the u.s. economy and the housing market. sales of newly built homes rose in november. the commerce department reports a 4.3% gain in new home sales from the prior month, but that was less than expected. october was also revised sharply lower. purchases of new homes have been especially uneven in recent months in the northeast and the midwest. >>> meantime, mortgage applications rose more than 7%less week, according to the mortgage bankers association. refinanced applications increased 11%. the federal reserve's interest rate hike probably prompted borrowers to get off the fence and act. >>> consumers are more optimistic about the economy. the university of michigan's consumer sentiment index rose to its highest level since july. the gain is being attributed to lower inflation and energy prices, which bolstered real income. >> orders for durable or long-lasting goods flat-lined in november, but that flat reading was better than the decline wall street was looking for. a key measure of business investment also fell in the late

for "nightly business report," i'm eunice yoon in beijing. >> wow. >>> the fallout from the slump in commodity prices is where we begin tonight's "market focus." freeport-mcmoran announcing it will suspend its dividend and cut capital spending by $1 billion over the next two years. the company says its plan to get rid of its annual dividend of 20 cents a share will enhance liquidity. shares up nearly 4% on that news to $6.99. lululemon posted earnings. it missed estimates as increased inventories and spending on international expansion squeezed the yogawear retailer's margins. the company cut profits forecast for the year and gave disappointing guidance for the current quarter. shares down 13% today to $45.31. >>> and citigroup says it expects trading revenue to fall as much as 20% as compared with last quarter. the company's chief financial officer says the market's reaction to whether or not the fed hikes interest rates will determine how steep the decline is. shares slipped 1% to $52.81. >>> tyler korn/ferry saw its sales rise in the recent quarter helped by a recent acquisition,

police say the couple had stockpiled cash a of weapons, bombs, and and eunice. farook was american born and san bernardino employee. law enforcement source says they shot management personnel first. >> it was unspeakable, the carnage that we were seeing, the number of people who were injured and unfortunately already dead and the peer panic on the face of those individuals that were still in need. >> law enforcement sources tell cbs news farook had been in contact with people in the u.s. and overseas with us is expected links to terrorism. >> well, many muslims across the country say they're praying for calm. about 200 people gathered at a mosque in chino, that's located about 20 miles from the shooting scene. mosque leaders denounce the violence and caution that no one yet knows the motive and cannot presume it was fate driven. >> one of the victims of the san bernardino massacre has ties to our area. nick was one of the 14 victims killed on wednesday. he was a health inspector for san bernardino county. he worked for the cape may health health department befor

smartphone business is forcing companies to look elsewhere and as part of our tech transformer series, euniceoon spoke to the vice president of xiaomi and asked him about what he sees as the next big thing. >> i would probably say our tv. our smart tv. so we started about two years ago building smart tvs. we shipped for example the world's first android smart tv with a 4k display and at the time it was a 48 inch tv. we're now at 60 inch and with every new tv model we launch we make it more beautiful and thinner and faster reusing some of the fastest smartphone chip sets in our tvs which no one does and the reason we do that is we want people to have games and have 60 frame per second performance. have the fastest graphics they can get and they won get on any other tv. so we're now quickly becoming one of the leading brands in smart tvs here in china and also in the world even though we don sell our tv's outside of china, everybody wants a mi tv around the world. >> interesting to hear them suggest smart tvs could be the next step as well. the apple smart tv disappointed the market and that's

let's bring in eunice with the latest from beijing. it's on shore at least. >> i'm actually just really glad that i get paid in u.s. dollars. it would be inconvenient. but overall, the reaction here has been mainly from the commerce ministry. the commerce ministry said that they do expect to see an impact on trade. they're studying the extent of that impact and they're probably looking at two different things. one is what kind of impact the fed's move will have on the global economy. there has been concern here that the u.s. interest rate hike could potentially hamper a recovery and that the world wasn't necessarily ready for it and that chinese economy is slowing down so that would be a negative. on the other hand there's a lot of speculation that the rate hike and any more tightening cycle could is put an increasing pressure to depreciate and so already we're seeing it at 4.5 year low. that is of course good for exporters but at the same time the authorities here have been conce concerned to be make sure that they're in control with

let's go to saudi arabia, where the results are coming in from those landmark eunice pal elections, women voters for the first time are allowed to stand as candidates three have been elected to sit on local councils. >> reporter: the doors have opened to a new era in saudi public life, with two milestones reached. women with the right to vote and stand as candidates in local elections. >> i feel very hope that the king gave us the opportunity to vote. now we are equal to men. the journey to gender equality is a slow one, so, too, the pace of political reform. the monarchy often implies a liteseral interpretation, and saudis voted in three local elections - to choose councils that are the only elected bodies in the kingdom. i want to see the woman, to be more involved in every institution in the government, and in the private sector, okay. to be part of the planning, part of the execution, part of the performance, parts of the evaluation, she has to be there. >> behind the scenes, saudi women have powerful positions. they sit on the country's top advisory body, ashura council, and most uni

eunice spoke to the global vice president of xiaomi about the market conditions he's seeing. >> the smartphone market in china has gone through a couple of transitionary waves. it's migrating from 3-g smartphones to 4-g smartphones. we have gone through the majority of the waves already. it's a replacement market but it's a market where 400 million smartphones are sold every year which is much bigger than any other market. it's more than twice the size of the united states. so whether or not the market is growing almost doesn't matter because it's such a huge company. the migration from off line retail sales is only accelerating. and that is changing quickly and in a few years time almost the entire market will be online and that's something that only we are well positioned to attack because we're not the hardware company but rather we're an internet company so we ride that off line to online wave really, really well. >> now we also asked him about copyright concerns ahead of enerring other developed markets. >> we're not the first asian smartphone company to get into markets around the world.

eunice headed to find out how it's impacting china's dealerships. >> she's on the front line in the battle car buyers. at her dealership the 25-year-old sales agent is under pressure to move 12 cars by the end of the year. it's very difficult for us to sale cars. in the past customers would always come after us but now we have to chase the customers. she competes in the world's largest auto market. for years sales of sedans and suvs have grown in the double digits but so far this year new car sales are up 3.9% as the economy weakens. the manager says potential buyers here have turned price sensitive. >> it's common practice in the car market today to sell cars below cost because otherwise you won't sell anything at all, he says. on average, we're losing nearly $1,000 on each car we sell. the average discount is now around 10%. he says many are trying to boost after sales and other services to make up for the profit short fall. >> we're driving along the famous car street. it's 3 kilometers long. people come here to get their cars fixed and serviced and buy new models and car streets like t

got a look inside their home where the couple death bombs respect scores of and eunice cents. daniel nottingham has the latest. >> now classified the massacre in san bernardino as act of terrorism. cbs news learned just before the attack 28 year old tashfeen malik pledged her support to isis and its leader, under an all just on facebook. >> so far we have no indication that these killers are part of an organized larger group or formed part of a cell. >> law enforcement sources tell cbs news no indication that the attack was ordered or directed by isis. malik and her husband farook happen pushed 14 people inside social services building wednesday. the farook family's attorneys say the cup del not a poor to have extreme religious views. >> none of the family members had nip idea that this was going to take place. they were totally shocked. >> investigators are analyzing electronic evidence including two smashed cell phones found in a garbage dumpster to learn more about the couple's motives. cameras were allowed inside the couple's home friday. half eat egg food found near toys

. ♪ norra eunice is for an independent news source.eague hear about a hotel in central cairo that still has internet service. they try to get a room with a view of tahrir square. >> they said they have orders from state security not to sell any rooms overlooking tahrir. we settled for a nile view of the room. >> while organizing their coverage of the day's events, nora notices something happening outside their window. she grabs her camera and begins to film a chaotic scene coming into view across the nile river. >> we heard many bombs and we couldn't see anything and the bombs were just going and going and going and then we saw smoke coming out from the other side of the river. >> nora's footage shows a massive crowd of protesters engaged in a growing battle with police. >> the people wanted to get across the bridge, across the nile to tahrir square to join the revolutionaries in tahrir square. >> riot police led by two other vehicles races across to meet the crowd. the riot police and their armored vehicles were determined to push the

eunice yoon joins us with that story. good morning or good evening. >> good morning, andrew, joe.ey guys. well, yeah, just had more bad news out of the second largest economy the official pmi fell in november and to the three year low. this is the worst we have seen for quite sometime and there's also a private survey known as the market index which also indicated that there was a slight improvement but still signaling that the manufacturing sector is quite weak. there was a bit of a pick up according to the measures in external demand but domestic demand remains lackluster. the services industry did better. it was resilient but still not enough to offset the declines in the manufacturing and industrial sectors. now this all threw some cold water on the party that's been going on here after the chinese yuan was included in the basket of currencies at the imf and not helping matters either, the fact that china has had to now shut hundreds of factories in northern china to cope with some of the worst pollution in quite sometime. according to the u.s. embassy measuremen measurements,

eunice yoon, cnbc. >> thanks. back here at home, much of the united states recovering from a week of storms and blizzards. and we have the latest forecast from the weather channel. >> you have a one day shot to see the sun in the southeast and now back to rain across the southeastern states but it's got going to last that long. a nice dry stretch coming after we see the rain in new orleans, birmingham, atlanta, charlotte and rain through today getting up through the d.c. area and new york city. possible showers there. the west, the story is the chill. los angeles only 64 degrees for the high. but the overnight lows dipping into the 30s get you. overnight tonight 41 in downtown l.a. look at the readings tonight in denver, 6, 14 in chicago. through the midwest spreading into portions of the northeast and the southeast as we get you into the start of the new year. new year's eve, rain through portions of the south. south texas into southern california and georgia. new year's day fairly quite weather with a little bit

eunice joins us with that now. >> chinese policy makers are bracing themselves for the fed's next movea couple of weeks ago the finance minister was arguing against a u.s. rate hike saying it could be damaging for the economy and that the world wasn't ready for it. in the past couple of days officials have been playing down the comments but the main message is that china is worried about a fed rate hike. first of all as the finance minister suggested there's concern that a rate hike could actually damage any type of recovery and hence weaken demand and this is a time when china's economy is already struggling. secondly a fed rate hike could increase pressure on the y aurks n to depreciate. already we're seeing the currency at a four year low and even though in theory that's a positive for the experts here because it makes it much more competitive at the same time policy makers like control. they want to be able to manage the currency and make sure that they don't see destabilizing swings in the currency. thirdly the officials here have been expressing concern about capital outflows, es

global stocks rallying today after the fed hikes rates and eunice yoon joins us.as some reaction from beijing. >> thanks so much andrew. well china's commerce ministry said that they expect to have an impact on trade and because of the u.s. fed rate hike, they didn't explain how but they said that they are probably going to be looking at the overall picture in the global economy and global demand. people here are still very much worried about the overall chinese economy and exports play a very important role and they are in the dull drums. and in fact just recently i was in a city in the manufacturing heartland. it's a place that just pumps out all the stuff that you get atwal mart and home depot and the government there said already hundreds of factories have shutdown and the people that i was talking to said they actually believe the number is more in the thousands. most of the manufacturers there were complaining that they're just not getting enough orders and that is what the authorities are worried about. the other impact of the fed rate hike is the impact on