Activity in the euro zone's manufacturing sector slowed in September, as Germany's manufacturing sector contracted for the first time in 15 months.» Read More
The U.S. markets are moderately lower, as volume gets lighter toward the end of the year. Oracle earnings weigh heavily on the Nasdaq, as the company misses earnings for the first time in a decade. Housing related stocks are mixed even though sales of previously owned homes rise in November. And RIMM shares jump on report that the company has rebuffed takeover talks.
European stocks rise, then sell off. A total of 523 banks borrow 489.2 billion euros in ECB funding, well above expectations. Banks likely to use most funds to pay down existing debt. Red Hat and Oracle misses weigh on tech stocks. Slow and painful 2012 ahead for Europe, according to SocGen economist. The MF Global U.S. trustee pursues $700 million in the UK. HSBC sells Japan private bank to Credit Suisse. UK consumer morale falls to its lowest level in nearly three years. With Dan Greenhouse BTIG chief global strategist.
Credit card use is now up 10.6% in the third quarter while debt card use has declined 5.9%, according to First Data. Greg Smith, a financial services analyst at Sterne Agee is bullish on credit card stocks now.
European markets are up as the ECB lends out 489.2 billion euros in first-ever 3-year lending operation, well ahead of the 310 billion euro expectations. Banks are higher on the day, while the euro is volatile following the ECB allotment. And the Bank of England votes to hold the bank rate unchanged at .5 percent.
Futures are up in the U.S. this morning. Europe is up as banks trade higher. The ECB plans to hold its first 3-year liquidity operation today. Italian GDP contracts .2 percent in the 3rd quarter. Italian and Spanish yields fall ahead of ECB 3-year LTRO. The Bank of England's MPC voted 9-0 to hold bank rate unchanged at .5 percent in December. China stocks fall despite pension fund injection reports. And Taiwan equities near a two-week high on government's funding pledge.
Nick Ferres, Investment Director, Global Asset Allocation at Prudential Asset Management highlights two key themes for 2012 - there will be a slowdown in the global economy, and secondly, we may witness the potential breakup of the euro zone.
Discussing Tuesday's upbeat news from Europe, whether the ECB's three-year borrowing plan will ease financial pressure on banks, with David Gilmore, FX Analytics, and Stephen Weiss, Short Hills Capital.
Steven Davies, CEO of Javelin Wealth Management says that recent developments from euro zone have addressed concerns such as support for the banking sector and tightening of liquidity.
By assigning itself as the global regulator of airlines' carbon emissions, the EU is just going to stir up major opposition to the "green tax", says Siva Govindasamy, Asia Managing Editor at Flightglobal.
Brian Kelly, Shelter Harbor Capital explains the term "backdoor bazooka", and whether it will provide a solution for the euro zone's financial woes.
CNBC's Bob Pisani and Rick Santelli report on stock and bond activity in Tuesday's markets.
U.S. markets take a cue from Europe, heading up on strong housing starts and a plunge in Spanish debt yields. Financials make a comeback after taking a beating yesterday. Jefferies soars after Q4 profit beats estimates. AT&T is up even though the company dropped its bid for T-Mobile yesterday. And Red Hat's poor forecast takes its toll.
European shares post gains after upbeat U.S. housing data. Short-term yields plunge in the latest Spanish Treasury bill auction and German business sentiment posts an unexpected rise. The Greek Finance minister announces the country is close to a deal with private creditors. Bank stocks are among the best European performers on the day and health care stocks slide on bearish news for two Astrazeneca drugs. In the U.S., builders are up, as are utilities. With Patrick Arbor, Shatkin Arbor, James Keenan, BlackRock, and Mike Murphy, Fast Money trader.
Six stocks in 60 seconds that CNBC's Jim Cramer has his eyes on now, including Open Table, Manpower and Alcoa. For more on these stocks|go to SOTS.cnbc.com.
Take Europe out of the situation even for a couple weeks, and we really could get that Christmas rally, says Larry Levin, Trading Advantage.
The Squawk on the Street news team break down the market moving headlines, including financials bouncing back, signs of life in Europe, the AT&T/T-Mobile fallout, and a report on earnings.
Spain sold more than its maximum target of Treasury bills Tuesday as borrowing costs declined and demand soared. Meanwhile strong German IFO data boosts the euro.
U.S futures begin the day up. Bargain hunting in Asia brings mixed day to markets as investors remain cautious over the euro zone. The market in Britain is lower but the rest of Europe is up as yields for short term Spanish bonds plummet. The euro gets a boost from better-than-expected German IFO data. Deutsche Telekom is down after AT&T announces it's pulling out of its $39 billion bid to acquire T-Mobile USA.
Will the euro zone get its act together in 2012? Discussing what Europe needs to do to get out of trouble, with Dan Greenhaus, BTIG, and Benn Steil, Council on Foreign Relations.
Jacob Kirkegaard, Research Fellow at Peterson Institute For International Economics discusses the European financial ministers' decision to lend the IMF 150 billion euros to beef up its loan program, which was 50 billion euros less than expected.
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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".
Natalie Berg, grocery research director at Planetretail, comments on U.K. supermarkets - such as Sainsbury's and Tesco - and says the challenge for Tesco is that they're not "sure what they're about".