Eurozone may be weaker than previously thought. That pressured stocks. The Dow Jones Industrial average dropped 140 points to 17,750. Nasdaq fell 54. The s p 500 was off 18. As bob pisani points out, the very things that had been driving the market higher for nearly three months seem to be starting to shift. Reporter stocks were down today as three key parts of the recent rally reversed a bit. First the china problem. Chinas been stable recently but the Economic Data has been choppy, kind of hard to read. Overnight the manufacturing numbers were weaker than expected. And that is predictably causing commodities and commodity stocks to weaken around the world. Second dlem is the dollar, notably weak this quarter. Its been a big help to commodity stocks and u. S. Based exporters. Some are starting to question whether the dollars fall is now over. Indeed, the dollar staged a reversal today. The third problem is oil. We know that its off the february low of roughly 26. But its dropped about
Labor department shows that the number of americans filing applications for Unemployment Benefits unexpectedly declined last week to levels not seen since november of 1973. So thats a more than 42year low. Add to that a jobless rate at an eightyear low. More people looking for work, a healthy outlook from economists, and most say the labor market is in good shape. But despite the solid numbers, theres still a lot of angst among american workers. This campaign is sending a message to Corporate America you cannot have it all reporter you hear it almost every day on the campaign trail. Is anybody working up here . We got to change this. Its terrible. Reporter you can see it and hear it if the streets. What do we want . Reporter protests, calls to raise the minimum wage, improve health benefits, or today in washington, d. C. , it was about protecting pension benefits for retirees. All that frustration, though, would seem to belie our economic data. Last weeks initial claims for state Unemp
Capitalists. Its the place where the worlds most influential and wellknown investor turns business into a party. At one point teaming up with microsoft founder bill gates in a doubles pingpong match. He also gets down to business and answers questions from shareholders about his portfolio, about the markets, and he offers advice for investors. This morning he sat down with becky quick for a wideranging interview on cnbc and she began by asking him about the economys sluggish growth. Were not living in a world where i think you expect the u. S. Economy to grow at average . The gdp figures are inherently a little more suspect in terms of being precise than year over year figures. But that doesnt negate the fact that the business is slow. It is not negative but its slow. We got the chance to talk to buffet about some of his longterm holdings, some of the biggest positions berkshire owns. Some of the stocks have underperformed sharply versus the market and against their peers. American exp
After the Treasury Department issued new rules that tightened Corporate Tax loopholes. And as merger and acquisition activity picks up on wall street, the Justice Department filed suit to prevent two of the Largest Oil Field Services Companies halliburton and baker hughes from combining. Lets begin with the 34 billion pending takeover by halliburton of rival baker hughes which the two companies pursued in the wake of slumping oil prices. The government lawsuit argues that deal would cut competition in the industry to unacceptable levels. Shares of both companies rose in trading today. Eamon javers is with us now from washington. Good to see you as always, eamon. Hi, sue. The doj made really pretty tough assertions about this deal. Give us some of the details. Reporter yeah, they did, sue. In fact in a Conference Call with reporters where they broke down exactly why they took this action, doj officials said it was one of the worst antitrust cases theyd ever seen and said some deals ough
Good morning. Im guy johnson. The team is running through global markets. Lets talk about how we are trading. Crushed equities got friday. London closes today. You will see a lot of things being taken out of the European Space let me show you some of the main market boards. Let me show you what is going on. Dollar yen a critical line. 106 is where we are trading or. Get to 105 and you can see action from the boj. A continuing move on what is happening with the dollar yen traded. Nymex is trading down 1 . We have a decision out of the rba tomorrow. 1 10 of 1 . We will come back to the market shortly. Lets get you caught up with what you need to know. Hugh hughes calling off the merger. They met antitrust resistance in the u. S. And europe. Halliburton must pay a termination fee by wednesday. Paymentthing on a bond later today it cant pay its debts. Thegovernor warning that Government Development bank would miss its obligation and called on washington to help. Last week, movies said any