i'm julianna tatelbaum. >> i'm joumanna bercetche. these are your headlines >> european equities kick off the week lower u.s. futures dip after wall street posts back-to-back weekly gains at non-farm payroll report blows past expectation. >>> stocks in china cash a bid as they continue to ease covid restrictions raising hope beijing will end zero covid policies. >>> and a price cap on oil set to come into force today while opec and allies agree to hold output steady amid weakening global demand. >>> and vodafone at the top of the stoxx 600 as the chief executive is stepping down after four years with group cfo set to take over as chief executive >>> we have some final services numbers coming through the pmi for the uk november final services pmi at 48.8 that was in line with the flash. the compposite pmi is a touch softer and this is the toughest spell the economy has faced since the global crisis excluding the height of the pandemic now hitting the lowest level since january of 2021 which is when the uk was in the lockdown. we give y

i'm julianna tatelbaum these are your headlines at half past the hour. investors reckon with the possibility of higher for longer fed rates. >>> beijing officials continue to ease covid restrictions amid a report that china could announce ten new easing measures as soon as tomorrow after last month's historic demonstrations. >>> italy's finance minister is adding to the chorus of calls over the u.s. inflation reduction act. it should provide a catalyst for the eu. >> there is room for improvement when it comes to state aid we have to foster our european competitiveness and i think the inflation reduction act of the u.s. is the invitation to reconsider our competitiveness >>> and the eu and u.s. agree to forge a joint response to the semiconductor shortage fears remain it could leave europe's tech players to the whim of washington >>> let's look at european equities we have been trading for over an hour and a half. we have red across the board we had seen fluctuation a bit of green. the dax is popping slightly. extending losses the stoxx 600 pulled back 0

i'm joumanna bercetche >> i'm julianna tatelbaum. these are your headlines >> hang seng closes 3% higher as hong kong eases covid rules for travelers. and shanghai ditching checks for entertainment and dining venues. >>> european markets looking to start in the red the yield curve inversion hits the widest in over 40 years. >>> crude prices extending before sinking to the lowest level in years and xi jinping is looking to boost ties with a visit to saudi arabia. >>> and ecb staff discusses strike action after the uk's rishi sunak aims at tough laws over decisions during the holiday season >>> warm welcome to "street signs. let's kick off with the asian trade. a strong rally in the hong kong. the main index for the region up 3.4% this amid reports that the city is relaxing its covid rules in a major way. we actually got some confirmation this morning around some of the action taking place. hong kong considering scrapping the outdoor mask mandate and shortening the quarantine for positive cases close contacts and positive cases are sub

. >> and i'm julianna tatelbaum.esting requirements for travel and at-home quarantine, raising homes that beijing may be ready to live with the virus. >>> shares in gsk heads for their biggest gain for the first time in 20 years and a u.s. court throws out a class-action lawsuit claiming its heartburn medicine causes cancer. >>> blue bell capital calls for larry fink to step down. speaking to cnbc, he says the strategy is only paying lip service. >> we see a number from that practice of the government's social embattlement perspective, which is not exactly in tune with what they say. >> nbc concludes raphael warnock wins, giving the democrats the lead in the senate and a major blow to 2024 presidential candidate donald trump. >>> good morning well, our top story today, china has announced that asymptomatic covid patients as well as those with mild symptoms will no longer have to quarantine in isolation centers and that close contacts of positive cases will have their quarantine period cut to five days as part of a ra

i see julianna tatelbaum standing by in london with the latest there good morning, julianna >> good morning, dom despite the weak session yesterday, asian markets held up well a mixed trading session. shanghai trading higher. we are looking at reports that a national relaxation of the covid rules could be on the horizon as soon as tomorrow we had rolling back of restrictions in beijing and shanghai perhaps already priced into markets given the muted reaction hang seng dropping 0.4%. and bringing attention to the australian market. getting sold off a little bit overnight. down 0.5%. reserve bank of australia delivered the third consecutive rate hike overnight. that brings the rate to 3.1% highest level since 2012 another central bank tightening policy as for european markets. here is the picture. red across the board a fairly downbeat session extended the losses from yesterday. stoxx 600 dropped negative yesterday. fairly contained in terms of the magnitude of the pull back dom. >> julianna tatelbaum in london. thank you very much. >>> let's kick off with breaking news with silvana henao. go

we turn to julianna tatelbaum who is in london with the latest hi, julianna >>> dom, good morning. happy almost new year to you i'm kicking off the asian market which has turned to china the last couple weeks as the country begins to open up and ease up on the key covid restrictions for the year overall, it has been a tough one for asian markets. similar to europe and u.s. key regions are lower in europe. shanghai and hong kong and nikkei are all down on the year. question marks around what is in store for china in 2023 as the country moves through what happens when people can move around and covid restrictions are lifted turning to europe, stocks retreat after gaining ground the stoxx 600 rallied 0.7% modest upside since stateside. it doesn't change the fact year to date the stoxx 600 is down 12%. nearly every yregion in europe i in the red except ftse 100 it is in positive territory for the year in large part because of the heavy exposure to the oil industry shell and bp up 35% year to date and the check on the pound which has been a fascinating mover back in september, it plunge

iemt b i'm joumanna bercetche >> i'm julianna tatelbaum. these are your headlines >> major central banks suggest they will continue to stifle growth as they staple the out inflation. >>> shares of credit suisse looking for an everyt offering. >>> and financial services overhauling rules in the hope the city of london can regain the crown as the financial center. >>> and is this game over for microsoft's activision sued to block the acquisition over concerns it would harm competition in the gaming space. >>> well, good morning welcome to "street signs." we made it to the end of the week what a week for markets. you see as we get to the final hours of trading on friday, stoxx 600 is up five basis appoin points as a whole for the week, it is negative a lot of hope and optimism from china and hong kong looking to ease covid restrictions. that led to a big bounce there not so much mirrored in the stoxx 600 this week. lingering concerns of the state of the economy and individual companies that we have been looking at as well that is the scene set

julianna tatelbaum in london. >>> to the stop story this morning. stocks soaring in china. silvana henao has the full story. >> seema, good morning markets in hong kong and china closing sharply higher on news that china is relaxing the covid zero calls commuters in beijing and 16 other cities were allowed to board buses without a covid test in the last 48 hours for the first time in months rest depaidents no longer have o provide information for cold and cough medicine chinese technology like tencent and meituan and alibaba surging. and mgm china and wynn macau is up double digits this is all happening one week after the covid control measures spilled into public protests from shanghai to beijing some calling for the resignation of xi jinping. and we hear foxconn is expecting the covid plant, the largest iphone factory in the world, to resume 100% production seema. >> fascinating to see the turn of events there. now to see the cost government responding thank you, silvana. >>> to another developing story this morning the start of what would be a volatile time ahead. more q

music) >>> time now for our last business segment of 2022, and for that let's bring in cnbc's julianna tatelbaumns us live from london. >> despite yesterday's rally, the markets are on pace for the worst year since 2008. what is the mood on the street and other financial capitals as we turn the page to 2023? >> good morning. well, there's a lot of uncertainty in the air. something we talked about many times this year, and i expect we're going to talk about it even more in 2023. today, u.s. futures pointing to a fairly muted and soft start to the trade for the final trading day of the year. yesterday we saw the u.s. markets actually rally, the dow jones, the s&p, and the tech heavy nasdaq, all posted gains, particularly strong gains for the nasdaq, rebounding more than 2.5%. and all sectors were positive yesterday. and interestingly we saw very strong demand for tesla, shares surged about 8%, apple bounced as well, and for the year, overall though, let's put this this in context, the dow jones down 9%, and the nasdaq down 33%. so some investors saying those look like bargain stocks right now but

. >>> let's get a check on the overnight action in asia and europe julianna tatelbaum is standing by in the london newsroom. julianna, big news from the bank of japan >> contessa, good morning. that is right. we did see equity markets move lower overnight and that action came on the back of what is happening in japan nikkei 225 ending 2.5% lower the big news bank of japan adjusting the yield curve control policy why is that so important we will give you a look at japanese assets. why is this so important it is widely seen by the market as the beginning of the po potential end of the loose policy bank of japan is an outliar compared to the fed and bank of england in terms of tightening policy bank of japan now going down that same path nikkei 225 ending 2.5% lower important to note within the nikkei 225, the japanese banks saw a strong bid investors putting money in the japanese banks because the expectation is bond yields move higher and that is positive for the banking sector the dollar weakens against the japanese yen yields moving higher across the board. a lot of trends are filter

we have a special guest appearance julianna tatelbaum back from great reporting in the netherlands on the energy situation. she is now in the london newsroom good morning, julianna >> frank, good morning thank you for the warm welcome back it is not so warm in the studio. it feels chilly in london. let's take you to the action in asia overnight it has been another strong session. hang seng in hong kong leading the gains up 2.3%. nikkei in japan catching a bid up 1.2%. we ended in positive territory green for australia as well. this is reflective of the overall trade we have seen in asia let me take you to the hang seng week to date chart strong gains in the region hang seng up 6.6% over the course of the week all of that on the back of the positive reopening narrative that is really taken shape in not only the mainland, but hong kong has the region looks to a move of living with covid. >>> to europe. the trade is muted so far. the positive momentum building the last half hour dax you have .25%. ftse 100 up .20% for the week overall, we have seen strong trade in asia and weak trade in