NEW YORK (TheStreet) -- TheStreet's Ruben Ramirez is with Jonathan Braude, TheDeal's London correspondent, discussing European price action on Friday and the disappointing end to equities in January.
Emerging markets continue to pressure global equity markets, as all the major European indices are lower. The S&P 500 is off session lows, but still lower by roughly 0.5%.
Braude added that investors are worried about possible deflation in Europe, and are concerned by the lower-than-expected German consumer spending data, which fell 2.5% from the previous month of November. The December monthly data is also lower year-over-year.
He added that French luxury maker LVMH-Moet Hennessy Louis Vuitton is higher as fourth quarter sales increased to $11.4 billion, while drink-maker Diageo (DEO) is suffering from a luxury goods crackdown in China.In the U.S., Google (GOOG) and Chipotle Mexican Grill (CMG) are higher by 4% and 13%, respectively, after investors positively received the companies' earnings reports. Amazon (AMZN) however, was not so fortunate. The stock is off roughly 9% after missing on top and bottom line estimates. The company did say it is considering raising the price of its Prime membership by $20 to $40, which would give a boost to margins and cash-flow. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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