A warship to russia as planned despite deep criticism from both sides of the atlantic. In corporate news, litigation talks talking its toll on Credit Suisse following a 8. 5 billion settlement with u. S. Authorities. Shares dropping to the bottom in market after a disappointing set of Second Quarter numbers. The failed deal with omnicom is partly to blame. We have been too much focused on the omnicon deal. These certainly generated questions over the daytoday issues. Youre watching Worldwide Exchange, bringing you Business News from around the globe. Hi, everybody. Welcome. You are watching Worldwide Exchange for the next two hours. I just want to update ow some flashes were just getting across our wires. Were seeing uk politicians talking, saying that they need to send a clear signal to russia, the world has changed since the recent eu meeting took place. He says expectations have changed and the eu needs to go further. A terrible incident that happened because of russias support for
Melissa it is a true friday the 13th for wall street. Energy dragging on stocks as the dow and s p are on track for a Third Straight losing week. It doesnt stop there. Oil getting crushed, hitting another twomonth low. On top of all that we have this news just crossing i want to bring you right now. Treasury secretary jack lew sending another warning to congress, yes exactly, ahead of sundays debt limit deadline. In a letter just released, he cautions the treasury will resort, to quote, extraordinary measures to finance the government. Bring in todays panel, charlie gasparino, veronica daguerre, wall street journal, john lonski moodys. I have the letter, right off the presses. Dont read that. It is too scary. Melissa who knew jack lew hat had a sense of humor. Im writing followup on march 6th. I went in the vault and it is bone dry. Did you guys not get my note about the fact we dont have any money . Kind of like ackman saying he is short herbalife. Theyre a fraud or something. Melissa
The actual tobacco farmers . You are watching Market Makers on Bloomberg Television. I am Erik Schatzker. Stephanie i am the very enthusiastic Stephanie Ruhle. My boyfriend is act, better than before. How was greece . Erik i sat down with the finance minister. In his rookie is a bit of a rock star. Stephanie how would you describe him in one word . Erik i cant do it in one word. Cool, confident, charismatic. Stephanie you can say rockstar. He is the man. We have the few pieces of Economic Data hitting the wires. Our producers are saying enough talking about rock stars, lets get to the news. Scarlet fu has marketmore. Scarlet lets get the pending home sales, lower than what economists had anticipated, a 2 gain. It represents a bounce back from the drop in the prior month. We should mention that the drop was revised as well. It was originally reported as a decline of 3. 7 but it has been revised to a drop of 1. 5 . Pending home sales measures this is an industry report, not from the gove
Off 20. 6 and the nasdaq, thats the one thats off 39 as you can see right there. Also keeping an eye on the small caps. Flipping through and looking for the names as they get more attention on the valuation here and more and more people want to play these as a way to protect themselves against some of these external currency moves. Watch this index for signs of overvaluation or a pull back. Whats calling the shots today . Oil has been continuing to move lower on more evidence of ever higher inventories in this country. Were still just pumping like mad and filling up coffers around the country, so the price of wti crude is now at 45, and brent north sea closed below 55 a little while ago. And, oh, by the way, the dollar continues to move higher as well. So were now at 1. 05 at this point. Look at the round number on the dollar index. 100. It was not that long ago this thing was trading in the high 70s. A huge move. Again, a lot of that is against the euro but its not just the euro its o
S p futures up by 20 points and the nasdaq is up by 7 points as well after gains yesterday. We have two economic reports of note. The february Producer Price index at 8 30 eastern time and then march Consumer Sentiment at 10 00. Also two retailers are set to post Quarterly Results before the bell. Well get the Parent Company of ann taylor and the buckle and then theres a labor dispute to discuss. This could end the strike. It accounts for 20 of the companys total capacity. Some stocks well be watching today that might be moving shares of ulta ulta salon getting a boost. The beauty retailers Quarterly Results were better on the top and bottom line. Quarter guidance was also better than expected. Ulta salon cosmetics. Its like a make up and cosmetics supplier. Andrew and i should know about it. Given that were good customers. Were going to talk to the companys ceo at 7 40 eastern and aeropostale team warning that shares will fall short of estimates and zumiez its Quarterly Earnings falli