A lifetime contract. We are half an hour into the trading session. It has been quite a big cello around the world. Matt miller has the latest. Matt im looking at oil prices, especially. Crude, not only nymex crude, started dropping precipitously around 7 00 this morning. Brent is also down. West texas intermediary, you can see the big drop that we had to 36. 85. We bounced up a little. Brent came down earlier and drop to below 40 a barrel. Both of these products, commodities, are down till those that we have not seen since february of 2009. Brent had a bounce it is now at 40. 39. I graphed a spread. Even see it is getting tighter and tighter. The less of a difference and they are correlating more. Betty stocks are moving in tandem with the slide were seeing in oil. Matt stocks have come down for the third day in a row. Looking at the major averages. We have recovered a little. We are off 1 of the Dow Jones Industrial average. The s p have recovered down a tense of 1 down 8 10 of 1 . Th
But this rough weather is starting to have an impact on the Great American economy and Steve Liesman has some really great and interesting stats and facts for us. We are talking about the impact, everything from jobs to stocks as a result of the weather. Im Bill Griffith in for tyler. Great to be back on power lunch. Sue is ready to go with several big market stories. Its great to have you with me today. You mentioned the big nasdaq spike. The big caps and small caps are also making some very big moves today. You see the drop and the pop for the s p midcap index. A similar pattern for the small caps. Youll see that in the russell. You can see it right there, as a matter of fact. Down. 75 . Yeartodate the russell is down 6 . The midcaps down 5 . Perhaps we shouldnt be surprised given the gains we saw last year. Seema mody is live in times square to put some perspective on all of that today. Good afternoon. The nasdaq on track for its worst week since june of 2012, that adp report certai
What, 263. Wow. Down from 3 not long ago. All right, europe looked pretty good at least last time i checked. That continues to be the case. Largely green, of course. You had the nikkei up after the 4. 2 drop the day previous. Kind of going back around the world the other way as in positively at least so far. Lets get to our roadmap this morning and it starts with those markets which are preparing for as you saw a decline at the open after private Sector Employment data comes in below forecast. Also weighing on investors s p downgrades puerto ricos general obligation yesterday they go to junk level status. Merck misses by a penny due to patent expirations and ralph rawrn beat lauren beats. And twitter set to report its First Quarter as a Public Company after the bell today. And big news from cvs caremark announcing it will stop selling cigarettes and other Tobacco Products at its 7,600 stores by october 1st of this year. Whoa. That is an interesting story. Futures extending their losses
Cvs will no longer sell cigarettes. But will the shortterm loss lead to longheterm gains. All that and more tonight on nightly Business Report for wednesday, february 5th. Im bill griffin in for tyler mathisen. And im susie gharib. Nice have you here, bill. Here a tweet that twitter didnt want to get. After the closing bell it released its very first earning report after going public back in november. But the news was mixed. Twitter earned two cents a share while analysts were expecting a loss of two cents a share. Revenue bead forecasts and guidance for the period is strong. A key metric was not good. Growth in the number of new users was anemic. A gain of only 3. 8 . Investors expected much more. Twitter shares plunged more than 10 in after thehours trading. Sheila dharmarajan, what was your take away on it . Reporter it was a big surprise. Investors were very disappointed. The big key takeaway is scale. How does twitter make money . Tierz advertising. This number put lot of doubt in
Cvs will no longer sell cigarettes. But will the shortterm loss lead to longheterm gains. All that and more tonight on nightly Business Report for wednesday, february 5th. Im bill griffin in for tyler mathisen. And im susie gharib. Nice have you here, bill. Here a tweet that twitter didnt want to get. After the closing bell it released its very first earning report after going public back in november. But the news was mixed. Twitter earned two cents a share while analysts were expecting a loss of two cents a share. Revenue bead forecasts and guidance for the period is strong. A key metric was not good. Growth in the number of new users was anemic. A gain of only 3. 8 . Investors expected much more. Twitter shares plunged more than 10 in after thehours trading. Sheila dharmarajan, what was your take away on it . Reporter it was a big surprise. Investors were very disappointed. The big key takeaway is scale. How does twitter make money . Tierz advertising. This number put lot of doubt in