Nightly News | November 27, 2011
LESTER HOLT, anchor: Just a few more hours remain for bargain hunters in this opening weekend for holiday shopping. And so far it's been a record breaker. For some insight on that and more, let's bring in CNBC 's chief international correspondent Michelle Caruso-Cabrera . Michelle , will this news power the markets out of their recent slump?
MICHELLE CARUSO-CABRERA reporting: It's certainly going to be very well received by the markets, Lester . It confirms a lot of other recent economic data that we've seen which shows the economy is getting better. It's not great, but getting better and puts to rest the fears that we had in late August that maybe we were going to see a second recession. However, at the same time we have to be very worried about Europe. Last week, economically speaking, was a dangerous week for Europe. We're starting to see things in their financial system that were similar to what we saw in the fall of 2008 that should have served as warning signals for us. So the coming week is going to be critical for Europe to see if they can come up with any kind of policy decisions. So that may cause the markets to suffer, and the consumer spending data we've seen from the weekend may not be good enough to lift it.