Freeze. Our road map begins with global volatility continuing. Jim mcgoggin. And apollo and adt are in a deal. And the death of Supreme Court justice ascalia has creatd a firestorm. First up, stock futures jumping sharply. Saudi arabia, russia, qatar and venezuela agreeing to freeze output at january levels provide that other major exporters follow suit. Crude prices rose off their highs of the morning. Some analysts expected an agreement to cut production. Thats not exactly what were talking about now iran on the tape is saying, maybe, we still want our piece. Thats going to be the question, iran and iraq as well who is also ramping up production to get money, its an expensive fight it has on its hands with isis. Thats the big caveat that Oil Producers will agree. Before this announcement, brent crude was up as much as 5 . Its still higher. The bulls would say, at least were getting diplomacy. This is the first coordinated move that the major producers are doing since the pain began,
Good morning, and welcome to world wor Worldwide Exchange on cnbc. Im sara eisen. And im wilfred frost. Lets have a look at u. S. Equity futures. Weve seen some rebounds across the board. Today, though, a little bit of red. In fact, quite a marked amount of red as we look at things. The dow expected to open down by 123 points. The s p by 16. The nasdaq by the 43. A quick look also at the tenyear yield. Its been a great gauge of risk sentiment. Were looking at 1. 84 this morning. That yield has been ticking up the last week or two, showing that risk sentiment has been improving. Just holding those levels this morning. While you were sleeping, a lot of Economic Data coming out of asia overnight. Heres a quick summary for you. A revision to japans Fourth Quarter gdp showing the economy there contracted little less than first thought. The economy in japan shrinking at an annualized 1. 1 rate. That was up from a preliminary read of 1. 4 contraction. In a separate report, japans Consumer Con
Germany twoyear hits a record low yield. Adp good stateside, Oil Inventories this morning at 10 30. The market coming off a good week of rallies. The latest on yahoo . The board considering a sale of the core business meeting this morning. As for the fate of Marissa Mayer, thats not the core argument going on now. And Mark Zuckerbergs new baby and the pledge to give away 99 of facebook shares. Do want to get to yahoo this morning. Given the wall street journal story last night, above the fold, saying the board is considering a potential sale of the core business. Lets back up a bit and explain whats going on here. If you recall, yahoo s board decided early last year they would go forward with a spinoff of its 15 stake of alibaba, they reiterated their intention to move ahead in october with that same spin but without a private letter ruling from the irs, which some anticipated yahoo would get along the way. Nonetheless their lawyers and many others believe the deal would be considered
The shine off. Europe higher, the price of brent getting relief. Back home, november cpi with a two handle year on year. Hat fed hit its target ahead of tomorrows decision . Anticipation from the markets. The feds twoday meeting starts today. Tomorrow is the highly anticipated announcement, will they or wont they . Shares of qualcomm are up in the premarket on news they will not break into two. And apples losses continue, one of the key suppliers slashing guidance today. First up, todays the day the fed kicks off the twoday policy meeting. Many expecting it to end with the first rate hike in nearly a decade. Futures are off their highs of the morning after 3m cuts its current year guidance. Oil giving up gains as well, wti hovering around 36 a barrel. Interestingly, the opec secretarygeneral says that low prices cant continue, and they reiterate their guidance that they think nonopec supply will come off next year. Definitely will. A lot of this junk bond scenario that we talk about in
Throughout. Tom lee said himself, the financials, the idea that were out with some of those, that sounds like great news to him. Its something theyre going to be covering in squawk on the street right now. Expired, by which the underwriters can start saying what they think. And guess what eric schmidt thinks is the companys biggest rival when it comes to search. The answer may surprise you. Got his attention. A big day for Bank Earnings. Jpmorgan chase posting a Third Quarter earnings miss. Revenues, though, did exceed estimates, helped by fixed income, currency, and commodity training. Citi reported better than expected Quarterly Results while wells fargo came in right in line with what was expected for its Third Quarter earnings. The Bank Earnings coming one day after stocks posted the worst threeday losing streak weve seen since 2011. The s p 500 down nearly 1. 7 , closing below its 200day moving average for the first time in almost two years. I said 1. 3, it was 1. 7. And adding th