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Paris attacks won't cause a correction: Billionaire

Key Points


World stock markets were mixed in the aftermath of Friday night's terrorist attacks in Paris. U.S. stock futures and European markets were generally higher, while Asia was led lower by Japan equities. (CNBC)

Oil prices were higher this morning amid uncertainty over Paris, after last week's sharp declines. Meanwhile, Gold was higher on safe haven buying. The euro was under pressure, falling to a 6-and-1/2 month low. (CNBC)

The terrorist attacks in Paris last week are unlikely to cause a market correction, billionaire Wilbur Ross told CNBC this morning. He's a major investor in European assets.

The suspected mastermind of the Paris attacks, identified as Abdelhamid Abaaoud, is currently believed to be in Syria, according to Reuters, which cited a source close to the investigation. | Latest: CNBC blog

The French Interior Minister said 23 people have been arrested in anti-terror raids, with another 104 people reportedly under house arrest. Meanwhile, the search continues for a Belgium-born suspect whose brother was one of the suicide bombers. (NBC News)

against Islamic State targets in Syria last night, hours after France and the U.S. pledged to step up the campaign against the terror group, which claimed responsibility for the Paris attacks. (FT)

President Barack Obama Sunday met with Russian leader Vladimir Putin on the sidelines of the G-20 meeting in Turkey. They agreed on the need for a Syrian-led and Syrian-owned political transition. (NBC News)

The Paris attacks raise new questions in the Syrian migrant crisis in Europe. But in the U.S., Alabama and Michigan said they will not allow the resettlement of Syrian refugees in their states. (CNBC)

The deadly Paris attacks have intensified Republican opposition to letting thousands of Syrian refugees come to the United States. (AP)

Leading GOP presidential candidate Donald Trump joins CNBC's "Squawk Box" at 8 a.m. ET, with his views on what role the U.S. should be playing on the world stage.

Democratic presidential front-runner Hillary Clinton clarified her Saturday debate remarks on combating terrorism, saying America has to lead "the worldwide fight" but "cannot and should not do it alone." (NBC News)

In deal news: Marriott (MAR) has agreed to buy Starwood (HOT) in a deal valued at about $12.2 billion in cash and stock, creating the world's largest hotel company. (CNBC)

Nelson Peltz's Trian disclosed in its latest quarterly filing an 83 percent increase in its stake in General Electric (GE). Separately, GE reportedly has two bidders for its Japan commercial lending unit. (WSJ)

Kraft Heinz (KHC) and Time Warner Cable (TWC) are among the new stakes disclosed by Dan Loeb's hedge fund Third Point in its latest 13F filing.


On today's economic calendar, the New York Fed issues its Empire State survey of manufactures at 8:30 a.m. ET. It's expected to improve to a negative 5.0 reading for November from a negative 11.4 in October.

Retailer Dillard's (DDS) is among the few companies out with quarterly numbers today. Urban Outfitters (URBN) is out with earnings after today's closing bell, along with Agilent (A).


Ericsson (ERIC) said it has not engaged in any merger talks with Cisco Systems (CSCO), despite rumors Cisco was actively pursuing the Swedish maker of networking equipment.

Blackstone (BX) has reportedly agreed to sell its facility management group GCA Services unit for about $1 billion, according to Reuters, to Goldman Sachs (GS) and Thomas H. Lee Partners.

Canadian Pacific (CP) CEO Hunter Harrison met with Norfolk Southern (NSC) CEO James Squires, according to the Wall Street Journal, proposing a possible merger, which was coolly received by the Norfolk boss.

Microsoft (MSFT) launched a new fund to help companies that are trying to bring affordable Internet to underserved markets.