From wall street the impact here in the u. S. It clear. Stocks have been plunging and the price of oil surging. As more regions of iraq fall into the hands of insurgents there are calls for the u. S. To intervene in the crisis as fears that the uprising could spread beyond iraqs borders. Three years after american troops have pulled out of iraq government officials in baghdad now are asking the u. S. For assistance in containing the rebels. But president obama has made no commitments and says he is looking at all options. I dont rule out anything. Because we do have a stake in making sure that these jihadists are not getting a permanent foothold in either iraq or syria. Meanwhile, the violence is heightening worries about the supply of oil and a spike in energy prices. Lets look at the closing prices today, Brent Oil Futures climbed to 113 a barrel today. The cost of west took crude jumped more than 2, hitting the highest price of the year, 106 a barrel. Jackie deangelo has more. Repor
We have learned of two big new problems just today. Those stories and much more coming up in the kudlow report beginning right now. Good evening, everyone. Im larry kudlow. This is the kudlow report. We are live here at 7 00 p. M. Eastern and 4 00 p. M. Pacific. Right now here is the top story. With the possibility of a Government Shutdown now just slightly more than four days away, republicans are speaking out today. Take a listen to house leaders john boehner and eric cantor. On the debt limit, were going to introduce a plan that ties important spending cuts and progrowth reforms to a debt limit increase. For too long president obama and his democratic colleagues in the senate have chosen to ignore our looming debt crisis. And president obamas plan has been and is still more debt and no reform. All right. Cnbcs eamon javers joins us from washington, d. C. With the details. Big day, but not much progress made toward an ultimate deal made in washington today. And its starting to look l
Roared through. Rescue teams are working to save families on washedout roads. Hardest hit about 350 miles south of the capitol of manilla. It has no electricity or way to communicate communicate this is one of the most powerful storms on record. The highest winds were up to 190 miles an hour. Gusts reached 235 miles per hour. More now from al jazeeras craig leaseon in man ill a. This is the moment when the storm hit taclaban, a city of more than 200,000 people. Monster winds whipped in with gusts from around 300 kill meters an hour. With it came floodwater. People used mattresses to stay above the rising waters. I can feel the electricity in the water, guys. My legs are tingling. This is what rescuers are seeing. A tornado just passed us the tornado lasted for four hours. It was just crumbling, you know, at first, it, it was the ceiling that went off then the roofs just started to fly away in all directions, and then the water just started coming. The survivors are desperate. Looting a
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