Asia Follows Wall Street Sell-Off on 'Taper' Fears
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An Italian court on Wednesday sentenced fashion design duo Dolce and Gabbana to one year and eight months in prison for hiding hundreds of millions of euros from the tax authorities.
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European shares move higher on Greek talks. French bank stocks jump on news of more long-term borrowing from the ECB. Greece and its creditors are said to be moving close to a debt restructuring deal. Defensive stocks like utilities are laggards on the day. EU states agree to ban on Iranian oil imports. And UK profit earnings rise at the fastest rate in 10 years, according to Ernst & Young. With Fast Money trader Brian Kelly.
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The Squawk on the Street news team break down the market moving headlines, including Research in Motion's new CEO, no deal in Greece as the debt swap remains unresolved, and Apache buys privately-held Cordillera Energy Partners for $2.85 billion.
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Europe grew their government more rapidly than they grew their economy, says Edward Lazear, Stanford University economics professor, who offers advice for solving debt problems in Europe and U.S.
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IMF managing director Christine Lagarde says she hopes that 2012 will be a year of healing for Europe. The euro partners have to agree on more, says Lagarde, who adds the IMF needs an additional $500 billion in lending capacity to build a stronger firewall out of the euro zone.
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Traders are watching a potential decision to prevent a default. Insight on when a deal will likely be made and how it will move the markets, with David Rodriguez, DailyFX and Scott Nations, NationShares.
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US stock index futures pointed to a mixed open on Wall Street today as investors waited on news out of Europe over losses private bondholders of Greek sovereign debt would be expected to accept. European shares are higher ahead of a meeting of euro zone finance ministers to discuss terms of a Greek debt restructuring deal, with banks rallying on a report about easier capital rules.
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US futures point to Wall Street retreating 0.4 per cent from a six-month peak. European shares rose on a rally in banks boosted by a report saying that France and Germany are calling for a relaxation of global bank capital rules. Asian shares and the euro paused from last week's rally on Monday as investors sweated on the progress of crucial Greek talks on a debt swap deal to avoid a default, while activity was subdued due to the Lunar New Year holiday in much of Asia.
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A preview of what's sure to be the topics of discussion at next week's World Economic Forum, with Richard Haass, Council on Foreign Relations president.
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Komal Sri-Kumar, TCW chief global strategist discusses how Europe will continue to dominate the global financial markets for the foreseeable future.
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CNBC's Michelle Caruso-Cabrera has the latest details on Greece closing in on a debt deal and whether it could trigger a credit event.
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CNBC's Seema Mody reports the U.S. markets are mixed. Industrial and consumer discretionary stocks weigh on the markets after GE posts a bigger than expected revenue drop. Tech stocks help lift markets, in spite of yesterday's Google miss.
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European markets are mixed as investors focus on corporate earnings and wait for news out of Greece. Europe's volatility index are near a six-month low. Mario Monti introduces "Grow Italy" initiative. Copper dips on weak manufacturing data from China. With J.J. Kinahan, TD Ameritrade.
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European banks that have failed their recent stress tests need to tell national regulators in detail exactly how they plan to raise a combined $115 billion euros in capital. Insight with John Raymond, Creditsights bank analyst.
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We have lost track of limiting the role of government, with the intervening, stimulus packages and quantitative easing, says John Taylor, former Undersecretary for International Affairs/Stanford University economics professor, who discusses the five key principles for restoring the economy.
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US stock index futures pointed to a mixed open for Wall Street, with Greece still locked in talks with private creditors over a haircut on some of its bonds and ahead of earnings by market bellwether General Electric. European shares have retreated from recent highs, with tech stocks very much in focus, but showing mixed performances.
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S&P 500 futures suggest Wall Street will pull back fractionally from near 6-month highs with Google being the only real disappointment in earnings. European shares retreated today from their 5-1/2-month highs in the previous session as major stock index neared an "overbought" territory. Asian shares rose to fresh two-month highs as solid euro zone sovereign debt sales and signs that Greece may be nearing a vital debt-swap deal eased concerns over Europe's refinancing capability, boosting appetite for riskier assets.
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Discussing the outcome of a possible debt deal in Greece and its impact on euro zone banks, with Dan Speckhard, former U.S. Ambassador to Greece.
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The euro is up against the dollar, after a positive bond auction. Insight on what's next, with Willie Williams, Societe Generale institutional derivatives sales.
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CNBC's Mandy Drury reports on the U.S. markets, which started up but have since pared some early gains. Financials are up today and up 8 percent year to date. Kodak files for bankruptcy protection. China's short-term lending rates fall sharply. And Moody's boosts Indonesia's credit rating to investment grade for the first time in a decade.
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Market rally on U.S. banks and better euro zone sentiment. There was strong demand for Spanish and French bonds today. The dollar and euro gain on the sell-off in the Japanese yen. Italy's Monti intends to push Italian growth agenda. And Portugal's finance minister says there's "significant" foreign investor interest in its T-bill sale. With John Brynjolfsson, Armored Wolf.
Europe Video
European shares closed lower on Wednesday, as investors awaited a key policy statement by the Federal Reserve after its two-day meeting.
Wednesday, 19 Jun 2013 | 11:30 AM ETSam Stovall, chief equity strategist at S&P Capital IQ, explains that markets expects Federal Reserve Chairman Ben Bernanke to say that tapering is not the same as tightening, and advises on how to invest.
Wednesday, 19 Jun 2013 | 11:20 AM ETVolker Treier, deputy chief executive at the German Chamber of Industry & Commerce, comments on Obama's Berlin speech, and its emphasis on shared values.
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Wednesday, 19 Jun 2013 | 8:53 AM ETKen Langone, Invemed Associates chairman and president, called Fed Chairman Ben Bernanke a "lame duck."