the dow had a recovery from an earlier 700 point drop. the nasdaq finished up nearly 2%. oil the big story here, sinking below $100 a barrel on recession fears. dramatic turnaround in oil markets. consumers may start to feel it at the pump. overnight gas prices edged lower to $4.78 a gallon. let s go to london now, i want to bring in clare sebastian. good morning, clare. this looks like a classic recession trade. oil down, stocks down, just the most brutal first half since 1970. but it is anybody s guess where it goes from here. yeah, and i think the recession fears out there, they are valid because the question that everyone continues to ask is, is the fed and other global
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professor, that is the odds. you are to average 9$9 billion. and breaking that down. it is more than double the expectations of super bowl betting, that was just i should say $3.9 billion. obviously it is relevant because that is a whole lot of cash for us. and a lot at stake in the office when you think about it. analysts say employers could lose up to $1.9 billion in wages. a firm called challenge your gray gray and christmas and found that 77.7 million people plan to spend 1 hour a day on march madness activities and multiply that by $24.78 and that is how they came up with that $1.9 billion as far as that amount goes. earnings of january. so there is a lot of data to back up how march madness
fox news poll suggests two-third of americans are dissatisfied with how things are going. recoveries that follow the financial crisis are slow and hard. after a boom fueled by borrowing it takes time to reduce the debt to a more comfortable level. likewise, geithner says the government needs to reduce the debt to a more comfortable level. talks begin next week with the democrats and republicans far apart on how to do it and how fast to do it. bret? wendell goler, thank you. sales agreements for homes were up 5.1% in march. sales rose in every region except the northeast. interest rate on 30-year fixed mortgage fell from 4.8% to 4.78. the stocks continued the upward trend. dow gained 72. the s&p 500 finished ahead five. nasdaq up three.
good school district, yes, it makes good sense to buy. don t be a speculator on this. no, absolutely. freddie mac, the economist gave that forecast at a home building conference. let s be honest a lot of people in home building industry and real estate industry that are cheerleaders for home prices. they would like to see things turn around. the reason why they say things will turn around and there will be a bottom, potential buyers are ready for many reasons you pointed out. 4.8% on fixed mortgage, positive economic indicators come back. even the feds own beige book this week pointed out that the economy is doing better, consumers are starting to buy across the country. look at that mortgage, 4.78, that s way up from where it was a few months ago. that s the crazy part. people don t have the confidence. that s the thing. how do you measure confidence? i can t give you numbers how to measure confidence. that s what s going to come back before buyers are ready to step back into