i'm joumanna bercetche >> i'm julianna tatelbaum. these are your headlines >> eu hits a price cap on russian oil exports and a ceiling on gas prices split the bloc the energy commissioner says the deal is possible >> so far, all of the different positions in the end have been allowing us to reach agreements on previous proposals. i do have hope that they will not be different. >>> the bank spikes rates and warning more monetary tightening may be necessary to stem rising inflation. >>> china tightens covid restrictions as the cases high temperature a record high. >>> and sinking to the bottom of the stoxx 600 as the drinksmaker warns of slower growth in the second half. >>> a very warm welcome to "street signs. great to be back in the studio >> great to have you back. >> we have fresh information out. for the month of november, the ifo has come in at 86.3 of the slightly better than expected. of course well below the 100 level. in terms of the breakdown, the current conditions index at 93.1 the expectation is 80. that is a weak number

i'm joumanna bercetche >> i'm julianna tatelbaum. these are your headlines >> european markets with a muted start, but after six week of gains after rising covid cases in china weigh on sentiment. >>> and a report of production at one of the key factories is set to fall 30% this month amid unrest over covid restrictions at foxconn. >>> and german yield curve at the deepest level of inversion in years after the economy rose more than expected in the third quarter. >>> and retailers brace for the busiest shopping day of the year european shoppers face a down turn >>> let's start with news from china overnight. authorities in china have reported a fresh record high of covid cases prompting cities to tighten restrictions beijing and shanghai and guangzhou are reporting a rise in cases reuters is reporting that over 20,000 employees in zhengzhou left over unrest and unfair pay. and shipments could fall 30% in november according to the report it claims the recent unrest is the primary factor with the weaker outlook for the major apple supp

i'm julianna tatelbaum >> i'm arabile gumede. these are your headlines >> chinese president xi jinping arrives in bali ahead of the meeting with u.s. president joe biden as the world between the two biggest economies deteriorate. >> we will know in the next two years. never any miscalculation of where each of us stands. i think that is critically important in our relationship. >>> german economy minister defends blocking several high profile investments telling cnbc that berlin must diversify its economic partners. >> all eggs in one basket politics is wrong. with the war in ukraine, what seems to be very soon turn out in one >>> the collapse of ftx sends shockwaves through the industry as binance pulls tokens and urges other to follow suit a few bad actors do not reflect the whole industry >> the industry goes through ups and downs. we have more bad players in the industry the industry is still growing. >>> the democrats defy a red wave holding on to the senate with wins in arizona and nevada and republicans hope to secure the u

ethereum is $1,178 >>> let's go worldwide julianna tatelbaum is in our london newsroom with the price action in europe and wrap up of asia good black friday morning, julianna >> dom, good morning happy black friday to you. the big news out in last ten minutes came from china. after chinese markets closed up for the trading day, the pboc, people's bank of china, came out with a triple r cut. it is a stimulative measure. it is the amount of cash banks must hold as reserves. along with the triple r cut, the pboc said they are not looking to flood-like stimulus all of this against the back drop of the worsening covid situation and the authorities in china now trying their best to support the economy. that is the news as i said, this came out in the last ten minutes after chinese markets closed shanghai closed 0.4% higher in overnight trade. hang seng and hong kong the same turning to europe. the picture on black friday. we have a mixed set of trade within europe. the ftse 100 trading higher by .14%. oil and gas names out performing this morning over in germany, dax down .30% cac 40 in fra

i'm joumanna bercetche >> i'm julianna tatelbaum. these are your headlines >> jpmorgan chase cuts the chinese growth forecast in half after macro data disappoints markets rise with online sales with hong kong tech stocks rising double digits. >>> infineon agrees on the long-term targets as it clocks 30% rise in 30-year revenue and seals a chip product global competition will be in a more robust industry >> life in the uncertainty in the world and we are very supportive of all of the governments activities it is good for us. it is good for the industry. it is good for the supply chains if we make it more resilient >>> credit suisse finalizes the sale of the product group to u.s. asset machininager apollo they look to make good on the restructuring policy. >>> and ftx financial collapse saying there could be more than 1 million creditors in the bankruptcy filing as they look to down play the contagion fears. >>> good morning warm welcome to "street signs. let's kick off with energy forecasts from the iea raised the 2022 oil demand grow

time now for business, and for that, let's bring in cnbc's julianna tatelbaum live from london. terday. how did the real number, compared to expectations, were investors happy? are we done with inflation? >> well, that certainly is a difficult question to answer yet. but as for producer prices, the data we got yesterday added to signals that inflation pressures could be easing, providing support to market sentiment. so, yesterday, we saw u.s. markets rally. the nasdaq in particular. the tech-heavy index being 1.5% outperforming the broader market. and today, u.s. futures point to continued gains. investors are going to be keeping an eye out for more data, retail sales, production and capacity for utilization for october, and earnings continue. >> speaking of that, wall mart announced earnings far better than expected due to grocery purchases. target is expected to announce today. what are we expecting from target? are they going to follow the similar pattern as walmart? >> let me start with walmart, the company beat expectations as they delivered results yesterday as you said, gr

our julianna tatelbaum is on the island in greece looking at that country's only, only lng terminal julianna morning europe has been racing to shore up its energy supplies in the wake of russia's invasion of ukraine and the cutoff of russian gas flows into europe. and thanks in large part to lng, europe has been able to, as you said, avert a worst case scenario thus far. storage levels of the gas storage units across europe are now over 95% so europe succeeded its goal of shoring up its natural gas supply heading into winter i am standing in the only lng term untinal in greece as you sd there are 29 operational lng terminals. they are extremely costly and take a long time to build. when it comes to lng there are two main constraints for europe. one, import capacity, essentially the ability of europe to take on lng supply regas phi it and store it for use. and here in greece, it is just an example of what we're seeing across europe. major efforts to ramp up their import capacity. and just behind me, as you saw before the break, we're looking at a tanker of lng that just arrived from algeria h

an interesting twist julianna tatelbaum from greece, thank you very much. andrew >> okay. coming up, will consumers shop or drop this holiday season? we head to a break, check out this morning's biggest premarket winners and losers stay tuned you're watching "squawk box" on cnbc >>> welcome back to "squawk box. an estimated 114 million customers are expected to make purchases this black friday, including apparently my co-host today, brian, getting ready for the holiday shopping season. joining us right now to share their retail outlook, dana telsi, how are you >> good, how are you, andrew >> and ceo of the national retail federation. if this is like an annual reunion, guys, it is here we are. and the holidays are upon us so, tell us what to look for go to the upside and give us the downside at this point >> the upside is that we're going to have a christmas and a holiday season that looks more normal in terms of in person gathering and people are going to be out there, i think this will be a busy black friday weekend. so you have that and celebrations with families being t

. >>> let's get a check on the trade in asia and europe with julianna tatelbaum in our london newsroom julianna, what is happening? >> contessa, good morning. as for trade in asia, it was a mixed picture. investors looking at bali. hong kong gaining 1.7% muted in china with the shanghai down 13 basis points the other note is nikkei trading 1% lower and that weakness came from softbank. shares plunged overnight after the tech focus vision fund reported a quarterly loss of 1.4 billion yen. that is almost $10 billion the third consecutive quarterly loss softbank shares gained since october driven by hopes of buybacks which they field to announce today that is the reason we see the pull back today. >>> moving on to europe markets. a rally driven by the inflation report stateside and what it means for fed policy european equities continuing to put money into the market. dax up .20%. cac 40 up .20% as well ftse 100 is up here as well. in the uk, the event to watch is the budget due on thursday autumn statement where jeremy hunt will deliver on fiscal policy contessa >> thank you, julianna a

i'm julianna tatelbaum. >> and i'm arabile gumede. "worldwide exchange" is up next. hi. i'm shannon storms bador. when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and thanks to shipstation's discounted rates we're saving a ton. honestly, we couldn't do it without shipstation join over 100,000 online sellers who get ship done with shipstation go to shipstation.com /tv and get 2 months free. >>> it is 5:00 a.m. at cnbc global headquarters and here's your top 5 at 5. stocks looking to go two for two after another cooler than expected inflation print >>> former president donald trump launching his 2024 run for the white house looking to make america great again again. we'll look at what it could mean for wall street from trade wars to corporate culture. >>> am reportedly looking to ease off its reliance on china as a key cog in its global supply chain, now eyeing a factory much closer, per

greece is one of the countries backing a gas wide cap and julianna tatelbaum joins us from lng's only terminal let's talk about the gas price cap proposal out of the eu good news they've come up with some sort of proposal. but the bad news is it feels like it's never going to get triggered because the price is so high. >> good news if you are a proponent of such a cap but i suppose bad news for others. let me take a step back and talk about lng. lng has been a crucial part of europe's crisis management response a big part of the reason europe has been able to fill the gas storage units ahead of the winter to more than 95%, more than they had been targeting. a lot of the lng has come from the united states, the united states is the largest supply of lng into europe. the problem is europe has been paying up for this natural gas so they have two problems one the supply itself, securing it at prices that are reasonable and number two is having the capacity to import it and the space to store it. this first part is where the cap comes in yesterday the european commission announced this pro

let's get out to julianna tatelbaum with more.t's tough, isn't it with the earthquakes and supply shock and not enough energy for europe over the coming months. >> reporter: it is a major dilemma, that is absolutely right, karen, and an incredibly controversial issue here in the netherlands. the country is home to as you said the largest gasfield in europe and one of the largest in the world, but it's essentially been deemed useful because of these earthquakes that extracting gas from the field cause. you've got people who live in the area, work in the area incredibly against the idea of using the gasfield for extraction so back in 2018, the dutch government after a major earthquake in 2012 agreed to wind down production and eventually end it all together right now the gas field is operating the lowest operation production levels. the plan is to wind it down completely in the next couple of years. clearly the war in ukraine and gas on the continent has completely changed the energy equation in europe, and now there are major quest