i'm christine romans along with my friend, carol costello. >> happy day before friday. up first this hour, iraqi officials honoring the service and sacrifice of u.s. and coalition troops as well as their own. special ceremony at camp victory overnight. vice president biden was on hand. the event coming just weeks before american troops complete their withdrawal from iraq. cnn's martin savidge live in baghdad. we were hoping you could attend that ceremony but you could not. >> reporter: good morning to you, carol. you are right. we were told about 12 hours before that ceremony was to begin that members of the media were not allowed to attend. even though the buildup a week and a half we were told absolutely we would be there. the explanation that was given was security. does not appear we were the primary security threat but the concern was that they honl limited space. this is going to be held indoors for security reasons at a palace out there at camp victory because they needed to get the soldiers in and needed goat the dignitaries in and iraqi media in, there wasn't enough room for the western media. that's why we weren't there. that ceremony is wrapping up now. you had prime minister al maliki, vice president joe biden there. a little bit of a discrepancy what this was about. iraqis says this commemorates the end of the u.s. involvement or the withdrawal of u.s. forces from iraq. they are saying no, service to commemorate the sacrifice made by u.s. service sxhebs iraqi military forces. that's exactly what the vice president was addressing, too. but he did say it marks the end of the war. that's a significant statement. in iraq or the united states. this morning, overseas markets are riding the wave of wall street's rallies. stocks closed up in asia and markets are mixed right now in europe. all of this coming after a wild day for your investments. dow posting its biggest day in more than 2 1/2 years yesterday. 490-point rally. that's rare, folks. nasdaq, s&p 500 also up more than 4%. why? the fed teamed up with other central banks around the world to shore up the global financial system. again, another very rare move. something we haven't seen since the bad old days of 2008. good morning. the question for everyone now is can it keep going or is the fed's move -- global central bank's move, a band-aid on a pretty bad wound? >> hi there. that's exactly what many investors are asking themselves today because as you say, we had that massive bounce in world markets. the united states markets closing up to 2 to 4.25%. similar situation here in europe. what we are already seeing the doubts entering the market. particular there zeuro markets. showing signs of weakness today. and that's basically because many economists are concerned that even though we did see this super-important concerted effort for the world's central banks to step in when the euro zone policymakers haven't stepped in is still perhaps might not be enough in that and absolutely followed up with some kind of concerns concerted -- concerted leadership, let's say, from the euro zone. 17 heads of state. >> so it is -- basically the world's central bank saying look, we are too -- too close to the brink here and the -- cost of dollar funding too alarming, we are going to try to -- we are going to try to put salve on the wound. there's still a lot of work to be done in europe. >> yeah. plenty of work to be done. we already had an indication from some of the really senior policymakers in the european unions saying that we have only got about ten days to solve this crisis. otherwise currency could fail. this could bring down not just the single currency 17 nations but the other 10 part of the european union as well. this is sobering messages comesing out of the heads of the european state and also talking about a day when big countries in the euro zone like, for instance, france, spain, tested the bond markets raising about $11 billion worth of funding. as we know, each time they do so, christine, they have to pay more money out because it is getting more and more risky. >> watch the credit markets to see how this will fare. 3 1/2 hours when the stock market opens here. we will watch futures. thank you, nina. to politics now. donations may be drying up but perfectman cain is not giving up yet. he says he's still reassessing his presidential campaign and will make a decision about what weather to press on by friday. if he is throwing in the towel, it is hard to tell, cain is getting ready to launch a new tv ad in iowa. paul steinhauser is live in washington. the big test for cain will come friday when he meets face to face. >> two messages from her man can cain. >> yesterday he sounded forceful, determined to march on. talking to reporters he said yes, it is going to come down to a meeting with his family starting friday. take a listen to what he told reporters last night in new hampshire. >> number one, since i have been campaigning all week i haven't had an opportunity sit down with her and walk through this with my wife and my family. i will do that when i get back home on friday. secondly, re-evaluate the support of my supporters. it has been overwhelming so far. thirdly, re-evaluate the impact that this has on fund-raising. >> fund-raising is very, very important here. cain in a news conference acknowledged his fund-raising took a hit earlier this week after a georgia businesswoman came out and alleged she had a 13-year affair with cain but he said the numbers are starting to rebound and also said some of his fair weather or warm weather supporters started to drop off. again, all eyes will be on cain starting next week as ghees back on the campaign trail and things back to normal and holds a news conference in atlanta, his home base, maybe that's a signal it is the beginning of the end. >> he is releasing this new ad in iowa. that will be released today or tomorrow. >> yes. coming up tomorrow, second ad in iowa. it is not a very big one, about $80,000. the ad touts for cain's business credentials. that's one signal maybe he is continuing on. also campaign says they expect the candidate to be the next presidential debate which is in iowa december 10. but of course, that could all be very different if he comes out next week and announces he is stop thing campaign. >> paul steinhauser, thanks to you. cnn exclusive. piers morgan goes one on one with herman cain's attorney, lynwood, 10:00 eastern only on cnn. first lawsuit now has been filed in the penn state sex abuse scandal. it is coming from a new accuser not included in criminal charges. the lawsuit claims that jerry sandusky abused this boy more than 100 times and threatened the boy's family into keeping quiet. the victim who is now 29 years old also claims that sandusky's abuse began well before authorities think it began and the suit also names sandusky's second mile charity and penn state university. we could learn the first initial results from egypt's parliame parliamentary elections today. once the lawmakers selected they will have to draft a new constitution. >> secretary of state hillary clinton is meeting with myanmar opposition leader suu kyi today. it comes one day after the nobel peace prize winner announced she intends to run for parliament. today president obama will mark world aids day. former presidents bill clinton and george w. bush will join via satellite moderated by dr. sanjay gupta. cnn welcomes bon onto the newsroom at noon. >> here? >> he might be in atlanta. >> darn. >> maybe he's in new york. i don't know. but he will be on cnn, i know that. he will be joined by dr. gupta to discuss a.i.d.s. day and what needs to be done in the fight of hiv today in the cnn newsroom at noon. music's biggest night. grammys, kanye west scored the most nominations, seven. she was shut out of the album of the year category. the real showstopper is adele. british singer came away with knicks nods including record, song and album of the year. she is a clear favorite to take home the most awards this year. bruno mars and fu fighters. she came out of nowhere. she can come out -- that voice, you know. amazing. absolutely. >> she is like the amy winehouse. china hiding nuclear secrets deep underground. thousands of miles of tunnels. what u.s. students uncovered on the web about china's military secrets. college cheerleader hospitalized after her stunt goes very wrong. that video straight ahead. santa is stuck on a rope. he can't get down. this mall santa could have used a sleigh and reindeer to avoid a major malfunction. ten minutes past the hour. nyquil (stuffy): hey, tylenol. you know we're kinda like twins. tylenol: we are? nyquil (stuffy): yeah, we both relieve coughs, sneezing, aches, fevers. tylenol: and i relieve nasal congestion. nyquil (stuffy): overachiever. anncr vo: tylenol cold multi-symptom nighttime relieves nasal congestion... nyquil cold & flu doesn't. welcome back. china's underground great wall. the country may be hiding a major secret about the nuclear capability and enormous network of secret tunnels. pentagon correspondent chris lawrence has the story. >> reporter: while the chinese were building these tunnels a georgetown professor is digging into china. >> students downloaded 200 hours of chinese video. >> reporter: dr. philip carver and his team of students produced the world's largest report on china's tunnels. china admits they were dug by a secret branch of its military responsible for deploying ballistic missiles. >> they had 3,000 miles of these tunnels. 3,000 miles. >> reporter: can you put that in any perspective? >> imagine a tunnel 30 feet by 20 feet high running from nova scotia to tijuana. >> reporter: he used to look for weaknesses in the old soviet union. based on the size of the tunnels he says china could have as many as 3,000 nuclear warheads. >> the problem with the study and the way it comes to this estimate is that the students and professor made the assumption because the -- because china's working on this system of underground tunnels, this must automatically mean that they have -- working on new nuclear weapons. >> reporter: policy analyst lacy olson and others working on arms control question the georgetown team's methods. suggesting china has 3,000 weapons is a huge jump from the current estimate of a few hundred warheads could lead rival asia nations to start an arms race. >> all lead to sthamestimates t could impact foreign policy in a very negative way. >> reporter: students with 2,000 hours of video and translated more than a million words disagree. >> hundreds of thousands of chinese men who worked to build these things and hearing the stories, see how much after they put into this, it is another issue and shows how it is important to the chinese military. >> they may provoke an arms race. even unintentionally. >> reporter: no matter how many nuclear weapons you believe china has, the team's research yields fascinating revelations including how china reduced the size rail cars to transport some of its long-range missiles in secret. chris lawrence, cnn, the pentagon. >> day would of hearings set for the man who shot president reagan. lawyers for john hinckley jr. fighting for his freedom saying he is not dangerous and should eventually be released from a government mental hospital. one psychiatrist said that may depend on whether he is taking his meds. >> if he's on medication, mr. hinckley could move in next door to me as far as i'm concerned. if he's not on medication, i would do everything i could to block him from moving in next door. >> government lawyers say hing sly still capable of great violence and went to a bookstore to look up information on presidential assassination. that happened during a visit at his mother's home in virginia. terrifying moments during a college cheerleading routine. a michigan cheerleader takes a nasty tumble during a performance at the michigan state/florida state basketball game last night. she fell hard, face first. medics took her away. you can see the video now on a stretcher. she flashed thumbs up and a smile on her way out. she is doing okay, we are told. believe it or not, it is a very dangerous sport. you can't go into high because just you have a hard basketball court floor, nothing in between to stop you. it is very dangerous. >> good for her though. that's a brave woman. here is one for the santa. santa trying to make a grand entrance ends up getting stuck halfway down. turns out his beard got caught in the propelling gear and eventually he had to rip off that fake beard. painful. >> santa has a fake beard? devastating for the children watching this. >> i know. he had to take it down to make it down all the way to the floor. looking at the bright side, could be a teachable moment for kids. i don't know what it might. >> i'm told by one of our producers this is one of santa's helpers. not the actual santa who is too busy right now overseeing the elves. >> that's why he had a fake beard because he was a santa helper. there you go. >> rob marciano. >> if we show that again i think it might be wise to give our viewers a warning to get the children out of the room eliminate all of this confusion. good morning, guys. it is december 1st. 24, 25 more days until santa's big trip. you wouldn't mind the temperatures across the east coast. chilly in some cases cold enough for snow. frost on the windshields across the south. 38 degrees in new york. 38 degrees in d.c. things get back to normal throughout the day today. temperatures will get -- breezy, will be cool like they should be this time of year. other big story out west. big storm coupled with a deep arctic air mass. moving into the rockies. we had winds last night in some parts of l.a., gusting over 100 miles an hour. mammoth mountain, sustained about 130, 140 miles an hour. this is not just through the canyons. this is up on the mountains as well. back through nevada and parts of salt lake city and utah. also getting this. today we will see this again. dying down in the afternoon. picking back up at night. winds gusting 60 to 90 miles per hour. we will probably see more today until the event tapers off tomorrow afternoon. daytime highs 55 degrees. 50 degrees in new york city. if you want to travel today there will be delays. because of gusty winds and probably see similar event today at least an hour in some spots and at some point today los angeles and san francisco as well to a lesser extent in new york and boston. also to a lesser extent winds across parts of lake erie and great lakes yesterday. what are you doing, cleveland? you have the board out. yeah. big waves as well. 39-knot winds. water temperatures there, probably in the 50s about now. hey, listen. you are in the air. you are not in the water too much. >> wow. >> i will bet. >> that water has to be cold, though, rob. >> yeah. it is chilly. like i said, it is in the 50s now and the air temperature was no laughing matter either. we have winds at 30 miles an hour. and temperatures in the 40s. that was -- that will wake you up in the morning for sure. >> so will the fear of sxhits going into the rocks. all the other things that are -- who cares about the cold water. i care about the whole thing looks scary to me. >> exactly. >> looked cool. up next, a billionaire investor, warren buffett, putting his money someplace you may not expect. we are going to tell you about his latest investment. >> shark sighting turns a routine fishing trip into something special and terrifying. congratulations. congratulations. congratulations. today, the city of charlotte can use verizon technology to inspire businesses to conserve energy and monitor costs. making communities greener... congratulations. ... and buildings as valuable to the bottom line... whoa ! ... as the people inside them. congratulations. because when you add verizon to your company, you don't just add, you multiply. ♪ discover something new... verizon. putting his money someplace you welcome back. will wall street's raleigh lose steam this morning? european markets are mixed now. u.s. futures are slightly lower. it was a huge move yesterday. little pullback. not much surprise. look at this. dow rocketed 490 points higher yesterday. that's about 4.5%. that makes the dow now positive for the year. it is the biggest gain since march of 2009. no question. not your average triple-digit rally. the nasdaq and s&p 500 also closing up more than 4%. all of this because of a major move by central banks to ease the flow of dollars into the global financial system. very rare intervention to make sure the banking system stays healthy in europe. the global rally pushing commodity prices up across board. oil is now over $100 a barrel but second time in almost six months. experts tell cnn money this time prices may actually keep climbing because of this global economic intervention. two hours from now a fresh read on the employment situation in the country. initial jobless claims to report is expected to show 390,000 unemployment claims filed the first time last week. if that's true, might be seen as good sign for the labor market. more than 99,000 americans could get a nice check in time for the holidays. the irs says it is sitting on, get, this, $153 million in unclaimed tax refund checks because people didn't update their addresses. if you think you may be entitled to a refund head to irs.gov and click on where is my refund. blackberry looking into hackers able to break the tablet. research in motion's reputation for making devices and tough security. apple and google's operating systems routinely are attacked by users that run unauthorized programs. breaches of blackberry software are more rare. warren buffett betting on newspapers. that's right. berkshire hathaway announced plans to purchase the omaha world herald company which owns his hometown newspaper and several 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[ male announcer ] enbrel. ♪ ♪ [ male announcer ] everyone deserves the gift of a pain free holiday. ♪ this season, discover aleve. all day pain relief with just two pills. the establishment does not want herman cain to get this nomination. >> herman cain trying t