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Tens of thousands of people are protesting to demand for free elections and to end Putin's 12-year rule in Russia and the state funeral of Dictator Kim Jong-Il takes place today. Tony Cordesman, Center for Strategic and International Studies senior adviser weighs in.
The euro dragged stocks lower despite the better-than-expected Italian debt auction Wednesday, with CNBC's Carl Quintanilla, Melissa Lee & Bob Pisani.
CNBC's Rick Santelli has the update on bond yields and the dollar.
CNBC's Rick Santelli and Todd Colvin, RJ O'Brien discuss Italy billion dollar bond sale and what the markets will take from it.
In the next twelve months, overhang from European debt will improve, says Alec Young, S&P Capital IQ senior equity strategist.
"We are cautious in the first six months of 2012 - we are concerned about Europe - but the last six months could be okay," says Tom Forester, Forester Value Fund portfolio manager. Forester adds, unless central banks kick in, financials are difficult the first half.
U.S. futures are mixed. In Europe, stocks are up in light trading after a successful Italian short-term bond auction. Funding costs are sharply lower in Italian auction.
U.S. futures are mixed this morning. In Europe, the markets respond to Italy's 9 billion euro, 6-month Treasury bill auction -- the average yield is set at 3.251 percent. Italy plans to auction 8.5 billion euros in 3- and 10-year bonds Thursday. The German 2-year Shatz yield hits a record low. Very thin trading in Asia, as investors search for bargains. Most Asian stocks drop on European debt concerns. And China shares are flat after reversing earlier losses.
Christian Carrillo, Head of Asia-Pacific Interest Rate Strategy at Societe Generale Corporate & Investment Banking, says the Italian 3-year bond auction, not the 10-year bond, will go "reasonably well" despite the existing volatility.
The European debt crisis has lasted through much of 2011, and CNBC's Michelle Caruso-Cabrera breaks down her predictions for whether a rescue will be made in 2012. Also, Wasif Latif, United-ICAP chief technical analyst and Walter Zimmerman, United ICAP technical analyst weigh in.
CNBC's Michelle Caruso-Cabrera makes a prediction on whether Greece will leave the euro next year.
Sharing perspective on tactical trades, with Willie Williams, Societe Generale director of institutional derivative sales.
Discussing market predictions for the new year, with Douglas Kass, Seabreeze Partners founder.
Yield on the Italian 10-Year is up some 7% ahead of Thursday's bond auction, with CNBC's Melissa Lee, Bob Pisani & Carl Quintanilla.
Predictions out of Europe for the new year, with CNBC's Michelle Caruso-Cabrera, who says Greece will trigger a credit event in 2012.
It is going to be a very complex year across the board, says Roger Altman, Evercore Partners, who adds that the U.S. will see slow growth in areas of employment and enormous risk and volatility posed by Europe, and some developing uncertainties on China's growth.
U.S. futures are mixed early, following the holiday. Europe is slightly up on very thin trading. Italy prepares to auction 8.5 billion euros in bonds on Thursday. The Shanghai Composite is off 22 percent this year. And the euro is just above its 11-year low against the dollar.
U.S. futures trading will resume at 6am after the holiday. The U.K. market is closed today. Italy plans to auction 8.5 billion euros worth of bonds this week. The euro holds above its 11-month low. Asian markets post losses in thin trade as investors await U.S. data. The Shanghai Composite hits a three-year low on liquidity worries. And the Nikkei-225 is on track for double-digit losses for the year.
Tony Nash, Managing Director, IHS Global Services, says the market is forcing a solution by pushing politicians to act, but there will be no dramatic solutions to the euro zone crisis.
Tony Nash, Managing Director, IHS Global Services says Japan, together with the U.S., has criticized euro zone leaders for not having the ECB as the "backstop for all sovereign debt." He adds that the first half of next year will be rough for Europe, China and the U.S.
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European shares closed lower on Wednesday, with investors reacting to fresh economic data from the euro zone and the U.S., and looking ahead to Thursday's ECB meeting.
Lindsey Piegza, chief economist at Sterne Agee, says U.S. markets are "holding their breath" for Friday's jobs report to see if the loss of momentum will continue.
Brian Reynolds, chief market strategist at Rosenblatt Securities, discusses the threat of deflation and says that with U.S. inflation expectations "plunging", it's difficult to see how the Fed "can tighten".