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• GLOBAL MARKETS-Euro rises, shares gain as Europe's outlook brightens

  *China's official PMI slightly undershoots forecast. LONDON, Feb 1- The euro hit a fresh 14- month high and European stocks gained on Friday after economic data raised hopes that the region's downturn has eased, but moves were limited as investors await a U.S. jobs report. London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX were up between 0.5 and 0.8 percent.

• What Crisis? Big Tobacco in Europe Marches On

  

  Banks, retailers and many others may have suffered during Europe's downturn but the tobacco sector has remained rock solid during a time of weak consumer spending.

• China's Recovery Won't Last: Expert 

  

  Rob Subbaraman, chief Asia economist at Nomura, tells CNBC why a combination of rising debt and inflation will prevent China's recovery from becoming a lasting one.

• Rome Court Summons Bank of Italy Over Monte Paschi

  

  A court in Rome has summoned Bank of Italy officials for questioning on the state bailout of Monte dei Paschi, as scandal spread over the trading that plunged the world's oldest bank into trouble.

• TREASURIES-Prices seesaw after US jobless and manufacturing data

  NEW YORK, Feb 1- Prices for U.S. The numbers were "quite encouraging for both output and employment prospects ahead," said Andrew Wilkinson, chief economic strategist with Miller Tabak& Co. LLC.

• Senate Passes Debt Ceiling Bill 

  

  The Senate has approved a bill to suspend the debt ceiling by three months, with CNBC's Eamon Javers.

• Spain Stocks Brace as Short-Selling Ban Ends

  

  Spain's short-selling ban came to an end on Thursday but analysts say that although the lifting of the ban is a sign of improved sentiment, further downward pressure should be expected in the coming weeks.

• Liquidity Services sinks to new low on outlook cut

  WASHINGTON-- Liquidity Services Inc.' s shares sank Thursday after the online auction company cut its earnings outlook on the anticipated impact of the weak economy. Liquidity Services said that while economic conditions have improved, its overall outlook remains cautious due to the volatility in the broader environment.

• Santelli Digs Down on the Sequester 

  

  CNBC's Rick Santelli talks to Rep. James Lankford, (R-OK), about today's Senate vote to increase the debt limit and extend Federal borrowing through May 18th.

• Santelli's Morning Bond Update 

  

  CNBC's Rick Santelli discusses the latest action in the bond market, and the U.S. dollar.

• Germany Slowdown? Not Anymore, Say Analysts

  

  After a slowdown in the fourth quarter of 2012, Germany's economy seems to be getting back on track and some analysts now believe Europe's largest economy will go from strength to strength in 2013.

• Dow Chemical CEO on Q4 Earnings 

  

  Andrew Liveris, Dow Chemical chairman & CEO, discusses the chemical company's mixed fourth quarter results, and weighs in on how the company is managing commodity risk.

• METALS-LME copper strikes 3-1/2-month top as global outlook brightens

  *China factory, U.S. jobs data due Friday may give more support. SINGAPORE, Jan 31- London copper rallied to a three-and-a-half-month peak on Thursday as a revival in U.S. consumer spending and a recovery in Europe's banks added to evidence of strengthening global economic growth.

• Filer-CORRECTED-METALS-LME copper near 2013 high on brightening global outlook

  *Copper eyes 2013 peak of $8,256.50 from Jan. 3. SINGAPORE, Jan 31- London copper held near its 2013 peak on Thursday as a revival in U.S. consumer spending and a recovery in Europe's banks added to evidence of a strengthening global economic recovery.

• Flee ‘Safe’ Sovereign Debt, Says Hasenstab

  

  The man who made some of the boldest contrarian bets in the bond market last year has a new message for investors: get out of supposedly safe government debt now, before it is too late.

• UPDATE 1-Japanese steelmaker JFE maintains full-year profit forecast

  *Nine-month profit 21.9 bln yen vs loss of 37.3 bln yen a yr ago. TOKYO, Jan 31- JFE Holdings Inc, the world's fifth-biggest steelmaker, kept its forecast for full-year net income of 35 billion yen even as it swung to a profit for the first nine months, underscoring concerns over the global economy.

• UPDATE 1-PIMCO'S Gross sees U.S. economy on road to extinction

  The level of credit needed to spur economic growth has grown five-fold since the 1980 s, said Gross, who is a founder and co-chief investment officer of Pacific Investment Management Co. He likened the need for more and more government stimulus to produce ever-diminishing rates of growth to Japan's experience over the past decade.

• METALS-LME copper near 2013 high on brightening global outlook

  SINGAPORE, Jan 31- London copper held near its 2013 peak on Thursday as investors focused on a revival in U.S. consumer spending and a recovery in Europe's banks as evidence of a strengthening global economic recovery. *Copper on Wednesday climbed to its loftiest since Jan. 3 at $8,245, drawing close to the early January top of $8,256.50.

• Conservative Economist Against Spending Cuts 

  

  John Makin, AEI Resident Scholar and noted "conservative" economist explains why he thinks spending cuts could make the debt crisis even worse than it is: and Lindsey Piegza, FTN Financial economist, shares her opinions.

• Closing Bell Exchange 

  

  The Dow is very close to that 14,000 mark, with Ed Butowsky, ChapwoodFinance.com founder; Nathan Bachrach, The Financial Network Group CEO; and CNBC's Steve Liesman and Rick Santelli.