One was anticipating. You know the Central Banks are good about telling the markets what theyre going to do in advance and when that doesnt happen you see swings like this. The Swiss National bank coming out with its news saying it was going to delock the swiss franc from the euro. Since 2011 they had been tying the currency cap in 2011. Swiss national bairng was saying you had to have 1. 2 swiss francs to the euro. They let that go unexpectedly. Moved 30 . Basically 120 euro. 120 swiss francs to the euro. Yeah down. 86. Right. Its complicated stuff and theres a lot to get your head around but this is a massive move. Weve never seen a currency swing like this before. It was also the u. S. Dollar we saw the swing against because the dollar was high against the swiss frank because it was tied to the euro. When they let that go it was a massive snap. So it had been that they were benefitting by being tied to a weak euro but it wanted to go much higher and obviously i want it wanted to go
By just three hours. Jamie dimon making personal phone calls to washington. More details emerging from the sony hack. What it means for sonys power now within the industry. Straight ahead, the ceo of adobe will join us after beating estimates. Stock is up nicely this morning. We start with the markets. Many mark harris head of Global Research joins us. As the price of Oil Continues to come down, are you reassessing the implications for more and more investors . Oil is linked into every market. Fx, emerging markets, we cannot escape the realities of oil hitting 58 on wti. My strategist has a very strong view. We will continue to see pressure through the first quarter. At that point, we are predicting and do expect that there will be more pressure on the saudis, at least at these levels to put that production in in a different way than they stated previously. How does that change your advice to investors . What does it mean for the market overall . I think the truth of the matter is, we
Can it track my crews performance, and protect their heads . Can it tell the Flight Attendant to please not wake me this time . At cognizant, we see opportunities for every company. To meet the new digital demands of their customers. Can it process my Insurance Claim . Like, right now . Can it download a track while im sampling it . Can my keys find me . With the power of digital, analytics and automation, now every little thing can provide even greater value. Ok, so can it tell the doctor how long i have to wear this thing . The answer is yes, it can. So, the question your customers are really asking is, can your business deliver . Welcome back. Its t is the spending bill that would keep the government open in jeopardy . John harwood has the details. Theres an agreement negotiated by the republican house, democratic senate, and the white house to fund the government through the end of the next fiscal year with the exception of homeland security, only funded a couple months as a republ
The iea also warning that weak demand raises the risk of social instability. But Goldman Sachs executive calls lower oil a blessing. There are a lot of positives to the economy from the Energy Situation to the resurgence of housing to the most important thing of having reversed all the leverage that was in the system and kind of reset the clock. So you can take something thats a blessing, lower price of oil which once you think of like a tax cut. Take a look at the price of crude. Youre looking at wti crude at 59. 33. What are you smiling about, joseph . How many times have you heard that Lower Oil Prices like a tax cut . I probably heard that a thousand times in my life. But i agree. But i dont know if thats the you know . I saw that yesterday, too, that he said that. I was like, thank you, but i knew that. Right . Like a tax cut. We know that. But its amazing how many people push back. There was even a guy tweeting this morning meaning yeah you pay 50 cents less for gas and lose thou
Points. S p up by 11 1. 5 points and the nasdaq up 20 points. You add those two sessions together and you get more than 600 points. Consecutive the 00point gains for the dow, this only happened nine times in its entire history. Granted, were talking about points, not about percentages. Look at that chart. This is something that is 17. 778. Weve got another 150 points. I dont know the i dont know the exact high. The trading sessions left before the end of the year. Or no, thats just before christmas. 0. 4 is what it was yesterday. You could say we were getting excited about 80 or 90point gains. If theyre two and three percentage point swings, then 400point swings. Like we said, to get two back to back days over 600 points or 700 points, you could probably find more. But on point, weve just gotten into this territory. Major indexes have slashed losses by nearly two quarters. Procter gamble, oracle, target. The Global Markets taking a cue from wall street. They were catching up yesterday,