. >> i'm bertha coombs. in the u.s., concerns about consumers pulling back spending as futures are sharply lower. >> let's take a check on the markets as we just did in the headlines. we have had a pretty negative session across asia and then here in super as well. as the trading got under way here. ftse global 300 index illustrates that, down by 1.4% at this stage. just coming off the lows of the session, not by very much. european bosses have seemed to deteriorate as the morning has gone on. looking at declines of over 1.5%. the cac in paris. we are looking at a weak session for the ftse and the dak and sm switzerland. all down between 1.4 to 1.5%. in the forexmarkets, let's look at the live market. the euro losing ground against the dollar, 1.4126. sterling under pressure. we have data later in the week. but 1.6348 for the sterling. >> big sell-off for asia, getting a chance to react to the u.s. confidence data which came out on friday. sentiment shaken across the region. nikkei down 1.5%. economic data s

. >> i'm bertha coombs in the u.s. expectations are growing. federal officials say an economic recovery is still taking shape, there are still dangers. >> health low and welcome to cnbc's "worldwide exchange." global equities a little softer today as we go through the european open. the ftse cnbc global 300 down 0.5% one hour into the european trading session. stocks have gone for a dip today. but if we pull up the european bourses for you, we'll show you exactly where we stand. there we go. off 0.5%. ftse 100 off 0.5%, xetra dax off 0.16% cac 40 off more than 0.3%. dollar/yen 9 5.24. euro/dollar, under pressure. down to the low 1.41. big day for sterling today. the bank of england quarterly inflation report in an hour and a half where we hope to get more understanding of why the bank thought it necessary to extend its quantitative easing program. christine. >> hey, ross. here in asia, you mentioned software markets are very soft here today as investors brace for what the fed will say in its statement. nikkei 225 off its ten-month highs, down 1

. >> i'm bertha coombs. in the u.s., the fate of wall street's rally could hinge on the data on consumers and the outcome of the fed meeting. >> you're watching cnbc's "worldwide exchange." it's a mixed session. the ftse reflects that, down four point. remember, we closed up at ten-month highs on friday. no surprise to see a little bit of profit taking. no major sort of news drivers in terms of the bigger picture. the ftse 100 down half of 1%. the cac down a little bit. resource stocks one of the biggest losers. the dollar managing to hang on to gains from last week. euro-dollar below 1.42. >> hey, ross, good to see you. here in asia, the u.s. jobs numbers give markets a big boost. a big jump in machinery data. that spurred the nikkei to close at a ten-month high. the kospi up marginally. the shanghai down 3.4%. the hang seng getting a big lift on u.s. strong jobs data. and the sansex trading higher at 0.2%. a pretty lackluster session. the big jobs data on friday did give the sentiment here a big boost, ber

it is over to bertha coombs in the u.s. >> thanks very much.oining us now for market strategy is the head for portfolio strategy at alliance global advisers. thomas, let's start with you. we have had an amazing run-up here in the states. the broader markets up five months in a row. folks are saying they expect third quarter to be the first month that we will see positive gdp. have we priced in a lot of this good news already? or do you think this market is still moving to the upside? >> well, i think we've seen the past two weeks, which came to a lot of people as a surprise. this huge rally, like 12 days in a row. that big surprise is actually leading us to believe that the recession is over. to my own surprise, a lot of data out of the u.s., the data is confirming that. what we've seen from gdp and the pmis and smis of the world is all improving. the market only wants to see the positive news. it's ignoring, for example, that retail sales this morning from germany. so we are definitely in the mode that the recession is over. it's a relief, rea

. >> and i'm bertha coombs. in the u.s. today, the focus on housing. more evidence in the housing sector perhaps is at a turning point and results from home depot. >> we are bringing you the latest, breaking news. cpi data here in the uk hitting the wires. now it looks like july cpi is at zero on the month. it was forecast by 0.2% on the month. let's give you rpi. july core cpi, 0.1% on the month. having been forecast down by 1.4% on the year. so cpi figures coming out, moving in the direction that we had expected. what's your reaction to those figures? >> well, they're moving in the right direction, as you said, which is downward. particularly the headline cpi six months down the road now below 2%. but it isn't down as much as we thought it would be and i think that the reasons are to do with the pound and with high food priets. >> and i'm terribly rude. i got to excited about the inflation data that i forgot to introduce you. trevor is a chooe economist at lloyd's tsb corporate markets. we are seeing a bit of movement, as well, in some of the markets

. >> i'm bertha coombs in the u.s. the fed kicks off for a two-day meeting. >> hello and welcome to cnbc's "worldwide exchange." global equities are trying to nudge higher at the moment. the ftse cnbc global 300 is up 7 points this morning. an hour into trade, we have gains after slim losses yesterday. we hit ten-month highs on friday. we'll see whether we can finish back at the highs today. european stock markets one hour into the session, we're up 0.4% on the ftse 100. xetra dax up 0.6%. cac 40 up 0.6% and smi nearly flat. the chinese data shows below forecast factory expansion, as christine was talking about. dollar/yen, 96.85. euro/dollar, 1.4160. sterling/dollar is below 1.65 at the moment. euro/sterling is very much in the ranges. christine. >> here in asia, a positive showing across the board here. in china, we had that industrial production number arising for the month of july, but coming in below expectations. this particular data, really, the key focus. the nikkei 225 up 0.6%. the kospi up 0.2%. the bok kept

. >> and i'm bertha coombs. warren buffett says the u.s.s on the slow path to recovery, but we'll have to deal with the side effects of massive economic stimulus. >> we are going to take a close look at what's going on in the u.s. because we just had the bank of england minutes out. the mpc voted 6 to 3 to raise kwaunlt tafb easing by 50 billion pounds in august. king, berkeley and miles all wanted a bigger hike. also, they did agree on keeping rates at 0.5% on the need for what they quote as substantial service asset purchases. the inflation report suggested that 50 billion pound qe increase and that lower market rate pass needed. they did think about, at least, arguments for bigger increase in the qu program and a more moderate expansion, too. but they say one of the arguments for a big qe rise included danger of doing too little more than doing too much. let's get some comments on this before we move on. they were unanimous, by the way, in deciding to keep the rates unchanged and the split came in how much qe to add. michael taylor is wi

. >> i'm bertha coombs in the u.s. the retail sector is in focus today as walmart posts second quarter results. >>> hello and welcome to cnbc's "worldwide exchange." so global equities trying to be firmer. the ftse cnbc 300 is up 21 points. we managed to get a positive close in wall street. european stock markets had a bit of a boost here this morning with the growth numbers out of france and germany. we're going to get the eu whole number coming out in a while. the ftse 100 up 0.8% as well as the xetra dax. cac 40 up 0.7% and smi up 0.5%. what happened this morning, the growth dmeft irk numbers up 0.3% in germany. it's down on a comparative basis, 7.1% less than where we were standing for growth a year ago. but quarter on quarter, it was positive. that helped the euro extend some gains against the dollar this morning. euro/dollar up to 1.4245. dollar is firmer against the yen and sterling rebounded, as well against the greenback. >> those upbeat comments from the fed gave markets here enough region to cheer. markets g

. >> i'm bertha coombs in the united states. the mild-mannered tim geithner loses his cool. reports say the treasury secretary blasts regulators for not getting behind president obama's financial reform. >> let's take a look at where these markets are leaving us at the moment. a little bit of a pause after what has been an amazing run, hasn't it? 4,109 is where the ftse cnbc global 300 is trading. the individual bourses here in europe are in negative territory. the ftse, which year-to-date is up 5.6%, giving up 0.7% so far today. more money raising comes from the likes of standard chartered. xetra dax trading on a day low, although massive outperformance aus ott late year-to-date. up 12.8%. the cac 40 over in paris before today up 8%. just giving up around about 40% of its gains from the previous session. let's take a look at the foreign exchange markets. small reserves in the greenback after pummeling through that 143 level in recent sessions. cable trading at 1.6925. christine. >> steve, here in asia, a mixed finish and some of the markets earlier got an initial boost from

. >> and i'm bertha coombs. in the u.s., a cautious cisco could drive on tech today. the company says it's too soon to call a recovery. >> hello, everybody. welcome back again. glad you're joining us. we've seen a slight bounce on the open in the european indices despite the fact a little bit of money came on the u.s. trade in yesterday's session. we've had pleasing numbers across the board. commerzbank, unilever, a couple of the companies that have been trading higher. the dollar cross rates, we're waiting on monetary policy tightening from the ecb and the bank of england. and you've got the nonfarm payroll data out tomorrow. christine, hello. >> hey, louisa. here in asia, a positive session with the exception, of course, with china. we have china, australia. let me give you the gist of what's happening in the markets. the nikkei 225 is up 1.3%. kospi is up 0.3%. the shanghai composite, down more than % at one stage and now regaining a little ground, but ending 2% lower. and the hang seng is up almost 2% and the bombay sensitive 30 index is up but marginally. liquidi

cnbc's bertha coombs looks back at ted kennedy's life and legacy. >> ted kennedy called universal healthed. for over four decades in the senate, the reason he defied his doctors after brain surgery, to address last summer's democratic convention. >> and guarantee that every american will have decent quality health care as a fundamental right and not a privilege. >> his rhetoric was impassioned, but those who worked with the liberal lion of the senate say he was at heart a paragraph ma activity. >> a lot of people got hung up on the liberal philosophy and i don't think they understood how practical he was. >> gordon binder worked with kennedy on fda issues in the 90s, a time when kennedy cosponsored major health bills with republicans, establishing the children's health insurance program in the wake of the failed clinton health plan. >> without his involvement, i'm not sure that we would have had a drug benefit at this point. >> the former chef of merck says kennedy would provide key support by being open to the industry's free market approach even though he would question parts of the 20

. >>> i'm bertha coombs. today's job reports means fewer people are being laid off, but unemployment is not hiring. >> the nikkei hits a ten-month high as investors bought shares of companies with upbeat earnings. >> and i'm ross westgate in europe. rbs posted a net loss of over $1.7 billion for the first half. talking about the uk, we're waiting for producer prices to come out there. of course, the uk reacting yesterday to the extension of quantitative easing from the bank of england. indeed does sterling take a hit. we're just getting those data out now. uk output ppi up 0.3% on the month, down 1.3% on the year. it was forecast plus 0.2% on the month, down 1.6% on the year. input ppi down 1.4% on the month, running minus 12.2% on the year. that is weaker than expected. the input was minus 0.5. the core output ppi up 5% on the month. the output ppi posted its largest drop since november 2001. rob connell, chief economist at ing joins us now. rob, your reaction to that? >> i think it's going to be a while bef

. >> and i'm bertha coombs. mind the white house.he white house is expected to announce the federal deficit will be smaller this year than previously forecast. >> we do have retail sales data out here in the uk. uk retail sales some months adding 0. 4%. that is a pretty decent performance. actually, out strictly on what the analysts have been expecting. the year on year figure, as well. we are looking at the biggest gain since may of 2008. let's get straight out to peter dixon, senior economist at commerzbank for a bit more on these figures. peter, the july figures coming in ahead of expectations, it doesn't seems like retail sales have dropped in the way that you may expect from a recession. >> that is right. if you look at sales overall, over the last 15 months, we've been flat. it's not such a good story, however, for nonretail systems where spending has clearly collapsed. i guess you could argue that the temporary cut has helped a little bit and remember that employment has not hasn't collapsed at quite the extent we have anticip

let's go to bertha coombs who is with oil and commodities at the nymex. >> thanks very much, brian. we've got oil a bit higher this morning but still below $70. we'll be watching for the decision at 2:00 this afternoon. weaker inventory number coming out at 9:30. international energy agency, while it did boost its forecast, it actually trimmed its growth forecast for 2010, global oil demand saying despite the fact that china seems to be ramping up to say things recovery is fairly catch where when you look at the developed countries. we will watch for the eia numbers come out at 10:30. they were seen as a build as 1.2 billion barrels. the interesting figure saw a drawdown but those figures tend to drop quite a lot. you're going to have that ten-year option at 1:00. the fed decision at 2:00. you better have an extra cup of coffee. >> i tell you, extra couple or two of coffee. but also keep in mind, you know the new wisdom out there and probably with good cause is kevin ferry and art cashin of express, many traders, that you need to go to the website now instead of or in addition,

bertha coombs takes a look back. >> reporter: ted kennedy called universal health care the cause of hisife. the cause he championed. >> i believe it is essential that we provide a medical care program -- >> reporter: for over four decades in the senate, the reason he defied his doctors after brain surgery. last summer at the democratic convention. >> guaranteed every american will have decent, quality health care as a fundamental right and not a privilege! >> reporter: his rerick was impassion impassioneded, but some say he was at heart a pragmatist. >> a lot of people got hung up on the liberal philosophy, and i don't think they understood how practical he really was. >> reporter: the former amgen ceo worked with him in the 90s, establishing insurance portability and the children's health insurance program. in the wake of the failed clinton health plan. >> without his involvement, i'm not sure we would have had a drug benefit. >> ray gillmartin the former chief of merck says kennedy would provide chief support for medicare part d. in being open to free market approach, even though he w

cnbc's bertha coombs has the latest. >> health care stocks are on fire in this down market, particularly the health insurers. watch coventry health, up more than 5% today. that is because indications on the talk shows that the obama administration may be willing to back off the controversial public plan option. look at united health care, the hmos over all had been up 27% during this debit. united one of the livelier, only up 5%. today, up $1 and change, despite the fact that warren buffett's berkshire hathaway cut its stakes in unh, according to its most recent filings. the health care services are riding right along with the managed care providers, benefits manager med co-health, up a new high today, up 15% the last two months, double that the last six months. and while we are talking about berkshire hathaway, cut back on health insurers, took a new 1.2 million share stake in medical device maker becton dickinson, one to watch, not just this afternoon but the long haul here, it is down on the year and a real underperformer, interesting to see if it gets that buffet boost here as we loo

. >> we have a strong market performance and let's get to the reporter beginning with bertha coombs.we have the great manufacturing number today. better than expected.d. we have the s&p above 1,000. a lot of people wanting to see if they can hold the range. you talk to every trader and they are on the fundamentals. part of it is the big numbers out of ford. the increase in sales and that will be an effect within the s&p. 3 m because of the exposures. good year and goodrich among the s&p. the media and advertising getting a boost. if you bought tvs, you may have seen a lot of car ads. >> what about 2,000?0? we have not closed above 2000 for that. there is your perspective. everybody is talking about apple and google and going off the board. people are making bets and saying this is a net positive for each of these companies. it's going to be interesting to see if the arenas will fight for them. chips today, the semiconductor industry quarter over quarter, 17% rise and year over year is down. intel and qualcomm is up 1.7%. we don't talk enough about the bank. they are all strong stays.

let's go down to the nymex where we have bertha coombs. >> thank you. we have a mixed situation here in the energy market. we've seen oil weighed down by the stronger dollar. the dollar turning around and getting stronger on the back of that surprise move by the bank of england to issue more quantitative easing. if you look at the rest of the energy products, they're trading to the upside. big gulf coast, off the coast, that's support that gas. get the natgas out at 10:30. interesting what the strong dollar, gold would be down but gold back above 970.4 some folks are worried about u4 inflation and looking at maybe 4 they would rather have hard currency rather than fiat money. back to you. >> appreciate it. >>> most asian markets rallied overnight. nikkei up 3.3%. hang seng and hong kong up 2%. australia, up 1 1/2%. in shanghai, as you saw, down. that was a drop of just over 2%. martin baccardax is joining us in london. good morning, martin. >> hey, erin, how are you doing? we're doing okay. we had two that you have been referencing, that is giving the

i'm bertha coombs. in this down market we're finding strength in health cakc names. take a look at covetry health, the health care managed name providers, hierarchy on the bottom of the administration seems to back off that public plan. meantime, tick kennisdickinson getting a ber shi ating ating boost. >>> and take a look at this one. american's dairy is the leading instant formula and milk provider in china, posting a 59% quarterly sales increase. that was late friday after the close but is still gaining a bit today. and gardner is higher today, they were raised to an overweight from neutral by j jpmorg jpmorgan. and that's good for a business of a boost in the down market. erin? >> thank you, h. >>> authorities of investors try to unwind stanford's alleged ponzi scream. scott comb is here more with more, scott? >> how could their regulators not have known given the money involved? it's filed with the court on the s.e.c. civil case against stanford. the regulators including the s.e.c. has maintained one of the biggest obstacles in uncovering the alleged fraud is th

our bertha coombs looks back on a political icon and his legacy. >> ted kennedy called universal health care the cause of his life, the cause he championed. >> i believe it is essential that we provide a medical program -- >> reporter: for over four decades in the senate, the reason he defied his doctors after brain surgery, to address last summer's democratic convention. >> and guarantee that every american will have decent quality health care as a fundamental right and not a privilege. >> his rhetoric was impassioned, but those who worked with the liberal lion of the senate say he was at heart a pragmatist. >> a lot of people got hung up on the liberal philosophy and i don't think they understood how practical he was. >> gordon binder, the former amgenceo worked with kennedy on fda issues in the 90s, a time when kennedy coresponsered major helthd bills with republicans, establishing the children's health insurance program in the wake of the failed clinton health plan. >> without his involvement, i'm not sure that we would have had a drug benefit at this point. >> the former chef of me