dax was worst performing in the this year. paul: yeah, based on historical this. and such like the european central bank is telling us, everything is okay, year.l come good next still like maybe a trade that is markets and opean the rally. longer-term investment, investment, do i want to build a factory, invest in the economy? rest is skeptical about this. guy: i have my doubts about the ate surrounding the 20th anniversary of the euro, the date it was -- paul: yes, yes, yes. gie us 20 e bp tell itting years. guy: yeah. has it been a success? as a political vehicle, more or less modeled it's way, exostintial crisis. greece most prominently middle, year the french took us close to the brink. that is the problem, kind of talking this morning on television with ubs's jeff, maybe it is how another crisis before europeans are bold enough to take the next and advance their banking union. unfinished, past 20 years 114 against the dollar. you know, held together. symmetry involved in all of that. i guess it depends where you are starting from. you start in greece, probabl

year are a little bit damp and a lot of analysts are seeing further growth for the markets for the dax for example seeing a little bit higher share prices at the end of the year but certainly nowhere near the record high the dax reached twenty eight also there are better prognosis for economic growth economic growth will continue and most of the major economies germany including but also in the united and an. economic growth is uncertain at what rates it will grow and people say the signing or the success of twenty nine will be the major problem areas which may twenty eighth called the trade war the interest rate hikes and the brackets that. any one of the problem areas where i will have problems. the eurozone could see its first interest rate hike in the new year that is the first since twenty eleven but it probably won't happen until much later in the year in the meantime the european central bank is weaning the block off stimulus winding down its most controversial measure its massive bond buying scheme proponents said it helped stabilize financial markets critics called it market m

dax plays santa at children's hospital l.a.o got more out after it -- kids or dax. >> i know. take a look. merry christmas, everybody. bye-bye. >> can i say it with you guys? >> sure. >> sure. >> fantastic. >> dax delivered presents to young patients at children's hospital los angeles' center for rehabilitation. he loved giving back but is also a teaching opportunities for his kids, delta and lincoln. >> now that i have kids, you're trying always to set an example for them that you hope they'll emulate. i'm setting other examples that i don't want them to emulate, so i got to counteract. (ken) police in san jose are investigating a deadly officer involved shooting. they say it happened around 2:30 this morning near leigh and fruitdale avenues a few blocks from san jose city college. good evening i'm ken wayne.(vicki) and i'm vicki liviakis. kron4's dan thorn is live in san jose tonight with more on what went down. dan? there are tire marks on the ground and the fence is smashed in where police shot and killed this suspect this

dax plays santa at children's hospital l.a.got more out after it -- kids or dax. >> i know. take a look. merry christmas, everybody. bye-bye. >> can i say it with you guys? >> sure. >> sure. >> fantastic. >> dax delivered presents to young patients at children's hospital los angeles' center for rehabilitation. he loved giving back but is also a teaching opportunities for his kids, delta and lincoln. >> now that i have kids, you're trying always to set an example for them that you hope they'll emulate. i'm setting other examples that i don't want them to emulate, so i'm setting other examples that i don't want them to emulate, so i got to counteract. heyi'm craving somethingkin! we're missing. the ceramides in cerave. they help restore my natural barrier, so i can lock in moisture... and keep us protected. we've got to have each other's backs... and fronts. cerave. what your skin craves. for specific beauty, the doctor-developed skin care system made specifically for you and you and all of us with melanin-rich skin. formulated t

as if it hadn't gone down enough already after the christmas holidays the dax started this week this abbreviated week with a new loss and a tumble to a new two year low now on the last day of trading with the end of the year the dax are recovered some points made some territory good but that didn't satisfy anyone at the party behind me people are just sighing a collective sigh of relief that twenty eighteen is over with the dax down for the year and about twenty percent and going into the new year not overly optimistic. it seems the volatility thanks to worries over breck's it in the u.s. china trades but will continue for some time to come. south korean officials accuse german luxury carmaker b.m.w. of delaying recalls of cars with engine faults that led to dozens of fires b.m.w. known she b.m.w. said it recognized the correlation between the defect in the exhaust and the fire on its vehicles only on july twentieth two thousand and eighteen but the company's headquarters had already for. and a task force in october two thousand and fifteen to resolve the problem of the fault and emb

ftse 100 down 0.4% down 27 points the dax down 1.5%. so really bucking the trend.erhaps didn't get the memo that u.s. equities and japanese equities are staging a recovery. the dax has taken its cue from chinese equities which were trading in the red overnight more bad news there. picking up momentum. the dax is technically already in a bear market territory that's down 20% from its 52-week high cac is the only index slightly in the green up a quarter of a percentage point. italy also dragged down. the picture for europe is at odds with what we saw with u.s. equities yesterday investors who were hoping for a continuation of the relief rally perhaps disappointed with some of the price action we're seeing here let's move on and talk about fx. today we have the u.s. trading a bit on the back foot, which is interesting given the big rally that we saw in u.s. stock markets overnight. we have euro bouncing, almost up at that 1.14 level cable trading firmer, 1.2650 or thereabouts. i want to draw your attention to dollar/yen again, this is interesting the nikkei was up alm

year are a little bit dampened a lot of analysts are seeing further growth for the markets for the dax for example they're seeing a little bit higher share prices at the end of the year but certainly nowhere near the record high that the dax reached twenty eight also there are better prognosis for economic growth that is economic growth continuing most of the major germany including of it also in the united states and in stronger. economic growth is uncertain of what rates of will grow and people say the signing for the success of twenty nineteen will be the major problem areas which may twenty eighth for the whole trade war interest rate hikes and the brackets that any one of the problem areas where up when you will have problems with major ones. already passed from the frankfurt stock exchange now one of the major challenges for germany this on next year to catch up with digitalisation from high speed internet to the digital classroom europe's most powerful economy is struggling to adapt to the digital age unlike estonia the small human the state in the baltics has developed into a m

justin was on the mind of ash ton cusper and dax shepard as she took us down a walk of punk'd memorye to cry. >> the dogs will be put in a government pound. >> y dogs? >> justin crying a river? a classic punk'd moment as ashton reunites with dax on "the ranch." . >> how far do i let this go before i let my friend get punched. >> look, rick -- >> my nape's not rick. >> i was like, you got to back it off now. yeah, i got it. >> what the glooep you say to me? no! >> drunk and disorderly. >> handsome, drunk? yeah, he looks like one of us. >> dax joins the show just in time to see ashton and elisa kut berth handle life as new parents. they gave us a tour. >> there's a couple of secrets on the set most people don't a. >> this chair is a death trap. hold on, it's not reclining. >> what else goes on behind the scenes? they give sam elliot a hard time after "a star is born." >> i play bradley cooper, sam is lady gaga's part. >> he's constantly washing in the star this he birthed. >> i think that's beautiful. well, here's hoping a reality star will be born in new bachelor colton underwood. her

guy: heather, the dax has underperformed in europe.hat can i take away from price action that is useful? heather: right now i would not make huge decisions based on today. managers,of portfolio the last couple months have been a wash for european stocks. the dax has underperformed. it is full of cyclicals like autos and chemical makers. there is a good chance it will have issues rebounding first quarter until we have more good news on trade. there is still the overhang of u.s. tariffs on german car imports. we wrote about on the blog today. you need to see support for cyclical stocks before you can see a bounce. europe, 2019, the germany in particular, incredibly affected by this. german utilities are leading the market lower. you talk about the fact that we need clarity on issues. money,s trying to invest europe does not look high on the list. heather: it is cheap compared to the u.s.. that is something i wrote about on the blog today. one thing we will need to see is we might need to see more pain before that valuation kicks in for b

and ashton kutcher reeyed with dax shepherd, remembering the prank that brought justin timberlake to tears. >> he chose to cry. >> this is "entertainment tonight." >>> two big tv shake-ups? first, kathie lee's "today" show shocker. now is ellen leaving her show? we have news on both. let's begin with ka think lee after they announced he's out. >> this is one is hard to believe. no more wine for breakfast. so many questions, like what's going to happen for hoda? does this open a door for kelly clarkson? >> i have something to share with everybody. it's bittersweet. when it's our 11th anniversary i'm going to be leaving the "today" show. >> there was not a dry eye on set when kathie lee made the announcement. >> the minute you stepped into my life with both feet, everything changed. >> thank you. >> thank you. >> the "today" show is now going to be in rebuilding mode, but for two very different reasons. obviously megyn kelly was cancel in the october. kathie lee on the other hand is a beloved member of the "today" show family. i don't think anybody wants to see her go. now they have to

the dax is down by nearly 4% now. we are off by over 400 points today. 600 has not seen a day like this for more than a couple of years now. the cac is down by 3.71%. let's look at movers. trade is a theme. the auto sector is under pressure. storyonfirms the huawei affecting. .et's take a quick look what that will tell us is we're looking at a difficult session confirmed by volume. the s&p is also testing -- or we go. there you go. there it is. theou can see, well above 30 and 100 a averages. big volume being confirmed today. let's find out what is happening stateside. use equity indices are down about 2.7%. the nasdaq down a little bit less. boeing is down more than 7%. expect, the vix is elevated. it is above 25. we have not seen that level in a while. move.asis the spread is moving as well. it is just below 14 basis points but not as low as it had gotten. of $50.23.eading we did a bit of a round-trip after we got inventories. much bigger drawdown in the u.s. now we have the news that opec is not going to give the p

dax futures, it will take that a little bit longer. the dax takes a while to open up.not see futures trading as strong on dax indexes as we did be on the other indexes. you might not see the kind of gains there that you see here. here is the ftsem opening up down 0.1%. you really don't see the kind of recovery rally here that you saw in the u.s. yesterday. 5% gains across the board. or that you saw in japan overnight. we do see gains, but not as strong, and even in italy, we see a drop. let's sic a look at how the sectors are trading. you should see most sectors right now. the floor of the bloomberg europe 500 index. we do see most sectors up. tech stocks are down. that is the red slice of the pie you see under the label of other. health care is down as well. a little bit. urr the most part, you see yo industry groups showing some decent gains on the bloomberg europe 500. let's take a look at the move screen on the stoxx 600 to see. you have 456 stocks rising. only 133 down. the breath was amazing on the s&p 500. i think 504 stocks on the s&p 500 were gainers. i did no

>> dax shepard spreading cheer to young patients with inspiration from wife kristen bell. >> she's ar person than me by a factor of at least six. >>> and imagine your christmas gifts already paid for. the stars making this holiday dream come true. >> go get your stuff. merry christmas! >> closed captioning provided by -- ♪ when you have doctors working as a team for your health, you get the care you need to help you thrive. ♪ visit kp.org to learn more. kaiser permanente. thrive. ♪ ♪ >>> jennifer family's in the holiday spirit. look at maxfriend alex rodriguez. jlo also has a new movie in the time for the holidays, "second act." co-starring her bestie leah remini and we got together for ♪ you're doing it well >> y'all have been girlfriends for so long. do you remember the first time you met? >> it was one of those instant chemistry things right where you just feel like i love this person. >> well, i was friends with marc anthony and then he started dating jennifer and he was doing a film "man on fire." i went to the premiere hoping she was gonna be ugly in real life and then as i got

in germany frankfurt's dax dropped below the psychologically important eleven thousand mark taking it to a more than two year low all in all it's a day for investors around the globe all right let's get more on the story with korda our correspondent standing by on wall street yes it looks like the truce between beijing and washington is over before it even really started there and clearly the news of the arrest took investors here on wall street off guard made some point for a second consecutive trading day of blue chips or lost almost eight hundred points in value and it is hard to imagine that this event the arrest is not going to be heard for on trade talks or between the u.s. and china we have two big concerns here on wall street and one is that we might be cooling of the economic growth next year and the second one is an escalation of the trade tensions between the u.s. and china and this event certainly is not helpful at all even if we still have to wait for official statements from the white house and we also have to see what happens on friday if she will be sent to the u.s. if

let's talk about the dax. the german dax up .1%. is one stock trashing the market and that is fresenius. it is really suffering today. 17.35% as we come through into the auction process in europe. it is trashed today. tullow is doing well and turning up by 7.54%. is a whole range of sporting equipment and around the world. it is being taken over by a chinese group and taking out that business whiskey boots, baseball glove -- business. we have ski boots, baseball gloves. 9%.stock trading up over the real story is for sending us and the damage -- fresenius and the damage it has done. europe has been backed up by decent volume. europe does not have the tech story hitting the u.s. markets right now. dayse is above the last 30 ' average. a decent move to the upside and backed i decent volume. that is a look at the european close. vonnie: markets in distress. that is what they are calling this episode. market decline after the . it is down 1.7%. ulta is the worst performer, down 10%. an idea of these fluctuations, hewlett-packard is down

but we are finding ourselves with is a dax that is outperforming.he best-performing is lufthansa, oil prices coming down and they are highly geared to that oil price. so a lot of four engine airplanes. and a story that is coming to overtime in the market. coming up later on, we are going to be on the radio. where i will be. i think it'll just be me tonight. we have plenty of great guests commit. find us on digital radio and on all of your bloomberg devices. this is bloomberg. ♪ guy: this is the "europen close." a look at mergers and acquisitions. tom keene standing by with two key voices on that issue. tom: thank you so much. it is an interesting year for books about investment. i give a shout out to howard marks with a wonderful effort. and maybe we can do it in 2019, or do it to expand the. two weeks or do it early. this is a young guy you may of heard of, a journalist. and kate joins us with her years at variance. tales of arbitrage, kate and mario. and you pick it up by the way it is columbia business school substance, but far more important is

dax and the cac, the 100 is down. this market was virtually flat.o auction trading down 1.5%. deutsche bank under pressure. paris down by 1.70%. aggressive selling in europe. volume is elevated today. this move to downside is backed by volume. let's look at names. airbus down. lemonde article talking about the possibility or process joining theu.s. doj investigation started by the french and u.k., of bribery allegations. carnival, a stock that trades on both sides atlantic, down. the numbers posted earlier on by the operator. that stock down by a significant amount. where are we with deutsche bank? so close to having a six handle on deutsche bank. the german lender is trading down by circa 7% as we speak. we are watching this carefully. i mentioned volume. let's look at the function on the bloomberg tracking volume through the day. this is the stoxx 600, blue line is down, trading significantly above. volume high through the selloff process today. that is a look at the european markets. vonnie: announcement from the press secretary that the presiden

year are a little bit damp and a lot of analysts are saying further growth for the markets for the dax for example a little bit higher share prices at the end of the year but certainly nowhere near the record high of the back when he also there are better prognosis for economic growth economic growth continuing most of the major economies germany included but also in the united states and an. economic growth is uncertain at what rates and who grow people saying. where the success of twenty nine will be in the major problem areas which may twenty eighth called the great war interest rate hikes and the grex that any one of the problem areas where up when we will have a problem when one. could see its first interest rate hike in the new year it be the first since twenty eleven but it probably won't happen until much later in the year in the meantime the european central bank is winning the bulk of stimulus winding down its most controversial measure its massive bond buying scheme apart and said it helped stabilize financial markets critics called it market manipulation. b.c.b. president m

rebound after a bumper session in the united states but european markets buck the trend to germany's dax trading deep in the red we go live to frank first for the latest. also coming up venezuelan co-producers worry about the negative side of state's interference. and a woman on a mission calabar to davey equips the villages in the indian state of what up redish was toil. it's. welcome to do your business want to get jones in berlin good to have you with us u.s. president to donald trump is considering an executive order that would bar u.s. companies from using telecommunications equipment make by china's sure way and is e.t.e. it would be the latest step by the trump administration to cut two of china's biggest network equipment companies out of the u.s. market united states alleges that the two companies work at the behest of the chinese government and that their equipment could be used to spy on americans. santa claus came late for markets around the globe but in some regions it did show up eventually asian markets made up some ground following a record shattering rally on wall street

index down 1%, 102 points lower on dax index this morning.st performer, down better than 2% in session overnight. we are taking a look at china, talking tough on china, president trump touting trade success in interview with harris

you got the dax there, the topics there, oils, u.s. financials.es pointing to a modest rebound in the u.s. as the white house officials moved to reassure markets that jay powell's job is safe on the fed. here's how investors reacted. >> it's unlikely powell would get fired. that would be unprecedented. nothing is off the table with trump. but it would be unprecedented and would have severely negative implications, because one would question the independence of the fed. >> starting next month when the democrats take over the house, we've already had a glimpse of what that relationship would be like. they didn't want to look them in the eye in the oval office. it's going to get uglier from no one. >> that leaves us into uncharted territory. on the fundamental basis, markets are looking at good value. on a political risk basis, i don't know yet. >> risk for meeting in every corner of the globe. that doesn't play out well. this malaise in washington as to the negativity. markets are about perception versus reality. perception is so negative, it's hard

and take a look at the dax. here's a one-day picture of the dax, up .8%.look at it for the whole year, you would see a drop of 15%, german equities seeing their first year -- worst year since 2008. this is bloomberg. ♪ anna: welcome back to the european market open, 8:42 in london. fairly strong day on european equity markets. u.s. futures paring losses, now down around .3% on the major indices in the futures market. let's talk politics. matt is over in hamburg is in germany, angela merkel's exit in politics continues as her party gathers in the city to elect a new leader. the cdu is set to choose between merkel acolyte or a social conservative, bound to regain territory lost to the alternate for deutsche land -- alternative for deutsche land. they will be seen as the chancellor in waiting. let's bring in the chief economist at ing. he joins us now and will be with matt on the ground in hamburg shortly. your thoughts as we head towards this contest is widely painted as a contest between somebody who is merkel 2.0 and somebody who will take the party furthe

that's why you're seeing the scenario in the dax.er point i would highlight, you said what else is there? the big one is the chinese economy. there's quite a few concerns about the slowdown in china. yes, they'll be fiscal stimulus from the chinese government, but we and the outlook we just published, don't believe that stimulus from the government will make up for the slowing economy there. we're seeing a gently slowing chinese economy. that added to the other two factors you a highlighted. it's going to be a concern going forward. anna: i got a chart showing the latest pmi data. we've had the manufacturing a little while ago. there is one level looking bouncing slightly in the most recent data. certainly the export story looked week within that. would your expectation, the chinese government can't do enough to offset these global headwinds if trade is not ticked? steven: look, like i said, i start from our assumption. our assumption is trade, the concerns wouldn't escalate significantly. but as i said earlier, this initial agreemen

the dax, automakers and banks leading. the dax is a valuation play. into a bear market last week giving investors a chance to buy in at more attractive valuations. , frenchfrench stocks economy in hyperfocus as we might blowout that you budget deficit. -- the eu budget deficit for brussels is competent. shares up more than 2%. a lot of headlines when it comes to individual companies. let's dive in and look at some of those stories moving at the index level as well. deutsche bank, one of the reasons the dax is spiking today. the government possibly stepping in to help deutsche bank have a merger with commerce bank variant investors liking this and shares up by 6%. this is an activist story, halogen -- this is the latest. a said they are going to try to boostnto measures to profitability according to reports from bloomberg that might include cutting staff and eventual sales of the alcohol company shares ending the day higher by more than 5.5%. , when downside, inditex you look at sectors in europe retail was the only one that fell very into tax laying i

the dax finishing down by 2.4%.u are leaving your trading desk and looking for company because nobody else is there with you, join me at the top of liveour for the table show on digital radio in the london area and on all your bloomberg devices. this is bloomberg. ♪ guy: it's time for our global battle of the charts. you can find them onto your bloomberg. kicking things off is alix steel. alix: no surprise when we look at the oil market and what it means for the high yield sector. the bottom panel is the oil price which is basic. it's the worst quarter and about four years and the top panel is the spread. is the difference between the high-yield market is paying over the treasury yield. each of these lines represent a different sector. let's take a look at one of the worst and not as bad. the worst is the oilfield services sector. that spread is almost 100 basis points. the blue line is not as bad and that's the midstream. the independence, the majors and the refiners are trading in tandem. the question for the mark

european time dax is off marginally. ftse and cac just about flat on the session so far >>> it's been a wild week on the brexit front uk prime minister theresa may survived a confidence vote by her own party late yesterday williams wilfred frost has the latest from london. >> the uk prime minister secured 200 votes in her favor, 117 against. she cannot now face a similar challenge from her party for 12 months sterling was up yesterday. the gains were capped by the size of her victory, which was less than she would have liked >> while i'm grateful for that support, a significant number of colleagues did cast a vote against me, and i've listened to what they said following this ballot we now need to get on with the job of delivering brexit for the british people >> so the prime minister is heading to brussels today to try to improve her brexit deal >> for my part i've heard what the house of commons said about the northern ireland backstop. when i go to the european counsel tomorrow i will seek legal assurances that will a

> in europe stocks open higher after yesterday losses still trading to upside, the cac in paris and dax gaining 1%. >> stocks in china pegging hire after or that u.s. and china trade talks underway tuesday night in beijing. and it is the hit that keep on hitting. >> no one on the radio we need to get experimental. ♪ do it again. how many more do you want? >> how the film put queen on top of the world. fbn:am starts right now. >> 5:0 1 here in new york thank you for starting your day with us i'm lauren simonetti. >> news overnight u.s. and china kicking off trade talks with a 90-day cease-fire in their tariff war. china's vice premier on the telephone with secretary steven mnuchin and trade representative robert lies highser and they discuss their views on how to move the negotiations forward and about also a timetable for the new stage, the next stage of talks. we get latest right now from our or very own lawrence who is in washington. >> good morning lauren and cheryl to put this in draft materials china is on the clock u.s. trade representative robert lighthizer says march first is fi

that in dollar terms, the dax is down 21% this year. isdollar terms, euro stock down 17.5%, and aggressive bear market. 8%expect to see earnings of 40 full-year 2018 which index down 17 means the pe multiple in europe has contracted by almost a quarter. i am beginning to think there are some bargains out there. in may, everything changes with european parliament elections. draghi goes. we get a component of the european parliament and we will be through brexit. timeght be that h2 is the to really look for the rebound for european valuations with the euro. .he short-term i am worried on a six to 12 month view, the earn -- the euro and european equities. vonnie: with the fed it meeting tomorrow and wednesday, what are your thoughts on u.s. investments next year? guy: i think we are looking at what will be the rate rise and the markets have done exactly what the textbook says. if you raise rates and go from easing to tightening, you get more volatility, compress and in valuations -- this is the first year in seven that pe multiples have co

dax -- theekes, -- ftse is up 1.2%. deal being done with a five -- with pfizer is a driver .f the ftse today a disproportionate effect on the market today. up by 4.41%. unicredit is trading higher, 2.97%. the question around the italian banks is how much does this btb boost of them and how long does it last the dust last? -- last? between the btp market and italian banks is still very strong. the stock i find most interesting, it is a tossup between gs k and deutsche post, a major competitor to fedex. the fedex call poured cold water on the european markets in terms of the big career companies and that has rippled through into deutsche post's share. it is the reason why the dax is underperforming. it is down 4.3%. in many ways, the fedex call was more negative for the story in europe and asia and the united states, though they were pretty downbeat. a quick look at what is happening -- i want to note something that happened midmorning in europe. most of the morning we were tracking on the average over the last 30 days, b

dax futures down more than 1%. the dax has been hit harder lately, hit hard year to date down 16% now. let's look at individual issues here with the gmm screen. we can see as far as equity indexes, a rough session. the asx 200 down 2.3%. the nikkei down more than 2%. these moves are from friday's trade. concerned,orex is the you one is falling further. otherwise you see real dollar weakness right now as the yields are down. 2.84%ample, the tenure at -- 10 year at 2.84%. as far as commodities and bonds are concerned, we see gains in wheat,luminum, sugar -- aluminum, sugar. japanese 10 year bonds yielding 0.03%. we see also drops in chinese 30 years. the main story, the bail hearing of the huawei cfo continues later today after are the dispute over her arrest escalates. china saying it will take further action if needed. tensions threatening to upend that fragile trade truce the trump administration officials fromorking to in the late the case am a crime beijing. beijing.e in >> it is totally separate from anything i

the smitake the dax and a lot longer to open up.so have a decision coming out, in about 30 minutes time. the world's lowest interest rates in switzerland. see this up out of the gate as well. gaining, up two thirds of 1%. stocks are opening up positively. those that are taking a little bit longer to open are still down. going on,ade is now about 8/10 of 1% as well. let's take a look at what is going on. 348 stocks up. 147 down. this is not the overwhelming threat we have seen in the past few days and weeks. looking at 400 to 200 on the stoxx 600. losers, ininners and terms of actual percentage seege, you are going to these smaller stocks that are not as widely held here. what you were looking at in the market. will see a story here. we will see shire putting up some gains. some of these smaller companies held,t what -- as widely but do tend to put up a bigger percentage move. can -- see the u.k. ten-year yield rising a little bit. investors are selling the stock. this is going up. we are seeing yields rise. the same is true on the 3

the dax is down by 1.7%. is deutsche bank, which is now trading in the low 7's and continues to be beaten up. by ftse 100 is only down .7%. the reason is the translation affect when it comes to sterling. sterling nosing over during the debate this afternoon and the house of commons. what that does from a mechanical point of view, that upgrades the translated earnings to many of the multinationals. for instance, that just gets priced back into the ftse. everything is down. the continental markets are really suffering, the banks in particular, feeling the pressure from the main markets. let me show you some individual names. this is an assessment. if you believe that we have seen an enhanced chance of a general election, which the labour party might win in the u.k., you would sell utilities because there is a concern around the policy toward these. they're a bunch of things going on, including gas prices. it could be one of those utilities you would look at and that kind of scenario. recently we have seen some

we see dax futures up more than 1%. gains on cap index futures up 0.8%.s gaining a little bit less than the rest of the group. the ftse as usual going quickly in one direction, then the other. the ftse know about -- now about 0.4%. this is where we could see the biggest gains, especially in german stocks. it looks like traders, investors may be more positive on china-u.s. trade talks as both sides now are saying that they don't want to confuse the issues arrest and thefo talks on trade. peugeot and renault both on the cac, but neither of those is building cars in the u.s. and exporting them to china, or even selling cars in the u.s.. we see spanish stocks open positively right now, but really it will be interesting to see what happens when the dax really itself opens up. if we get a big bounce in the dax it will be really interesting. about 0he ftse mib up .6%. italy's budget deficit issues will be interesting to watch. let's see how the sectors are moving in today's trade. you see a lot of green on the screen. for the most part you see big gains in healt

. -- dax futures down almost 1%. cap futures down .8%, as well -- cac futures down almost -- down .8%. u.s. futures are down, as well. latestput up some information for you on what is going on with regards to brexit. , we are talking about brexit because theresa may has come back from brussels. european leaders have toughened their stance, removing helpful parts of the communique that had been drafted in advance. the eu is stepping up plans for a note deal -- no deal departure. maria tadeo,ou -- is teresa further away from getting her deal through? it seems she would be thrown some assistance and then it seemed to change overnight. : that's exactly right. overall, it was a disappointing meeting for theresa may. she got no concessions. leadersoint, european said ok, maybe we can give her some concessions because what has become clear is that the irish backstop is the big sticking point. we don't get this cleared, the deal will not go through the u.k. parliament. everyone agrees on this, but the problem yesterday night

>> dax shepard spreading cheer to young patients with inspiration from wife kristen bell. >> she's aperson than by a factor of at least six. >>> and imagine your christmas gifts already paid for. the stars making this holiday dream come true. >> go get your stuff. merry christmas! >> closed captioning provided by -- these little cups would make great stocking stuffers. ♪ but how about right-now-in-your-mouth stuffers. happy holidays to your mouth. not sorry. reese's. ♪ >>> jennifer family's in the holiday spirit. look at her son max there. they helped mom trim the tree along with mom's boyfriend alex rodriguez. jlo also has a new movie in the time for the holidays, "seco we some girl talk. ♪ you're doingirlfriends for so long. do you remember the first time you met? >> it was one of those instant chemistry things right where you just feel like i love this person. >> well, i was friends with marc anthony and then he started dating jennifer and he was doing a film "man on fire." i went to the premiere hoping she was gonna be ugly in real life and then as i got closer i was like oh, dam

caroline: you like the dax and you have some concern about where u.s. policy goes in general, whether that be economic policy coming from the fed and what happens in terms of trade policy. what about u.s. data that you said is starting to turn? looks like we are getting some strong data around the consumer. does that continue? naeem: let's take it from a practical example. if the fed will continue to increase interest rates, i will have to dig more deep into my pocket to pay my expenses. if that is the case, i do not have spare income to start buying all the luxury goods i want. if you look at it that yes, the consumer consent -- consumer sentiment data is still solid. if things continue to edit space, i would expect that data to derail. the leading economic data is the housing index and what is that telling you? the numbers are becoming soft. if that continues to remain the a ripplewould expect effect going into other economic data. caroline: where do you think u.s. markets might look appetizing? you said the dax in europe, but what about if you got in

the german dax on pace for the worst year since 2008.urope's six largest economies saw the benchmark indexes fall into bear market territory. france could be the next one to hit levels closing in on 20% decline from the high in may meanwhile, more disappointing economic data from the uk. holiday sales off to a mostly lackluster start, raising the prospect of more disappointing news for retail sector investors, following a year of profit warnings and weak earnings growth, according to springboard, a company specializing in retail data. shopper numbers were 3.1% lower on boxing day, yesterday, compared with last year. foot traffic on boxing day has now declined for three consecutive years, that in contrast to upbeat figures for u.s. retailers guys, today's numbers for the stock market are not helping the consumer confidence there. back over to you >> leslie, thank you >>> back at home, markets continue to push deeper into the red as well. the dow sinking more than 500 points at the low earlier today. nearly half of yesterday's relief rally

xetra dax and cac 40 down a tad, about 0.2% weaker., that's the one index trading in the green this is after the italian government has gone back with a revised proposal for their spending plan at 2.04%, from 2.4% let's see how the european commission responds to that, and whether it's accessible. italian assets are doing quite well one company not doing well is gam. shares are plunging after they announced they plan to cut jobs and scrap their full-year dividend julianna is in switzerland and has been covering this big story for gam. there's a big price drop in the shares, shares down about 20%, takes it to a full 80% drop for the year this company has been saddled with a lot of issues, be it on the redemption side and on investigations into some of that's policies with some of the personnel as well. >> absolutely. this is a company that has been facing pressures of all kinds. in addition to the regular pressures facing the asset management industry, gam has been saddled with their own idiosyncratic issues before i get behind this pro

companies that is the biggest companies on the index the dax come from overseas a four out of every five years that they earn in revenues so the german economy runs on exports is an export economy and so to see whether exports are going up or down is obviously what everyone here is watching investors looking to see the way things are going global demand is what drives the german economy and with a lot of the challenges the that the global demand is facing right now the global economy is facing whether it's trade issues whether it's maybe decreasing demand merging economies and these things are happening they're putting their finger to the wind and they want to make sure there still is the market for them this new shows their exports are up a bit surprisingly considering flass quarter they had dropped a little bit due to some domestic issues and also the trade balance the trade surplus shrinking a little bit because german imports are also up so that's significant as well as the trade so. well focus on trade balances these days since since trump became president only absolutely for h