Regain intraday high set yesterday. Hewlettpackard shares are a bit lower on the premarket after quarterly revenues below the streets expectations. An interview with meg whitman a few moments from now. Airlines are canceling hundreds of flights due to the weather in the northeast. All the latest advisories. Opec ministers have arrived in europe for tomorrows summit meeting. Find out if there will be supply cuts on oil soon. First up, a deluge of economic data, jobless claims jumped last week, durable goods orders, personal income, Consumer Spending rose last month not as much as expected and waiting for chicago pmi and consumer sent mn. New and pending home sales datap one day after the s p set a record intraday high but closed lower. Shares of hp following after quarterly revenues missed for example, though earnings were in line. Davids exclusive with meg whitman in a few moments. Sara and i were talking before the show, anything that beat, headline durables was higher but the interna
Cfo will join us first on cnbc. Staples and office depot higher in the premarket, reports two in advanced merger talks. First up Oil Prices Rising sharply on expectation of decline and u. S. Drilling activity. Bp posted better than expected quarterly results. Bp ceo bob dudley spoke this morning. I think its going to take time. Could be a long time. There is excess supply. U. S. Productions still growing. We see about the rig counts what its growing. And chinese demand of course great. Growth in china is not as high as it was. So we have stock levels filling up all over the world, tanks filling up. Wont be long before people putting them in ships and that take is along time to work its way off. Is there a lot of oil news today. Thats just one data point. I love bob. Hes late here. Theres already been a dramatic increase in the number of financial players taking down tankers. If you look at nordic and american tanker they will tell you that is happening now. Whats interesting and bob du
Output of Energy Related products increased. Of course jobs are also the focus at the fed and how fast the economy creates them will be key to when the fed starts to raise shortterm Interest Rates expected sometime this year. On jobs the beige book says, quote, payrolls in variety of sectors expanded moderately during the reporting period. Melissa . Melissa peter, thank you so much. Lets bring in todays panel. Charlie gasparino, fox business senior correspondent. Pete hegseth ceo of concerned veterans of america. We have tony sayegh executive Vice President the jamestown associates. Peter and tony are fox news contributors. Lets dig into what you heard . I think, as all these reports are theyre backwards looking. Theyre looking at the past. I think what the markets are doing receipt now inputting some of the figures you heard him talk about some of these statistics and looking at it forward. It wasnt all positive. Weak demand manned for oil. Melissa right. Thats a negative for the econ
Another try. Unemployment a hiding a lot though, like how many johnson are part time. Here is what the ceo of gallup told me yesterday. Were a country of small and mediumsized businesses more than large. But the small and mediumsized stopped growing because they have wind in their face and lost their optimism. Melissa im joined by Charlie Gasparino, fox business senior correspondent. Jack hough from barrons, steve forbes chairman of forbes media. Steve forbes let you go first. Get the jobs report out today. They never want to separate how many jobs added were fulltime and part time. Yesterday we shed light on it. But that is the problem right . So many of the new jobs are part time. It is. One of the things that happened when they reduced Unemployment Benefits people decided we better go get work. So what do you do . Take a lower paying job than you intended to. I think that is part of the reason for that. We still have a very weak labor market. It is improving. The key thing in the re
Near record 10 Million Barrels a day. Of the 50 or so oil related stocks that i follow only about ten, 20 are up over the past month. All down more than 20 . Goodrich petroleum down more than 40 . One group that has been completely i think ignored, the offshore drillers. Theyre down worse, when youve got the hercules offshore. You cant even mention it now. All difficult. Ensco, a very modern rig system. The number of rigs coming on is shocking. People dont understand its about supply not necessarily demand. The tenyear treasury yield at 1. 92 or so. Again, down from our recent highs. But lets not forget jim. Yes, were down in the near term, but were actually higher than we were by about 30 basis points for our lows so far in the year. Excellent. Also in our road map this morning, shares of Gilead Sciences are down. Could be the big stock story of the day. The Company Warning of complications related to its hepatitis c drug. Chuck schumer calling for an investigation into Lumber Liquida