Will come here and speak for a couple hours. Day one of negotiations. Nobody is expecting huge news but as jim has already tweeted out this morning, the market is going to look for signs that this tone of compromise that weve heard so much about all week long is that for real or are talks going to break down in early stages . The market specifically is going to depend on that tone today and well bring that live when the meeting happens a little after 10 00 a. M. Weve seen reaction of futures to the possibility of a deal. Weve been down for six of the past seven days but the dow this morning implied open is up 33 points. Sapp looks s p looks to add fiv. Here we have italy down threequarter percent and mixed bag for the rest. Carl . Okay. Were going to go to the road map this morning. That is where carl is in washington d. C. Reports this morning that hard decisions surrounding deficit reduction could be kicked down the road until 2013 in favor of a smaller package of tax increases and s
Lining is in sight and that gave us a boost here on wall street. 12,471. Our heart of the day was 12,602. Not far off from yesterdays. You are seeing some financials here. They are trying to move along. Jpmorgan was in the red earlier today. Bank of america. Some of the financials are still in the red. Citigroup, goldman sachs, casebycase. It is not a blanket of of arrows across the board. It still remains. It is something they have to contend with sooner than later. Melissa breaking news right now. The fire is now out at the offshore oil platform. That is in the gulf of mexico. There was an explosion just after 9 00 a. M. Eastern. It was about 20 miles off the coast of louisiana. At this time, the coast guard, look at that, the coast guard cannot confirm any deaths. Two people are missing and nine people have been flown to local hospitals. We will bring you the very latest just as soon as we learn it. Lori bp is so fresh in everyones memory still. President Obama Meeting with congress
Youre watching First Business financial news, analysis, and todays investment ideas. Good morning. Its monday, november 19th. Im angela miles. In todays first look a better tone out of washington is giving a lift to the stock market. The market made gains on friday, but it wasnt enough to wipe away losses for this week. In Market Action last week, the dow fell 1. 8 , the s p was down 1. 5 , and the nasdaq edged lower by 1. 8 . President obama is still traveling in asia today, where he is calling for continued political reforms. American pilots will vote again on a Contract Offer from the airline, which remains in bankruptcy. The pilots rejected a previous offer in august. And a quick check of gas prices shows the price of a gallon of unleaded dropped a couple of pennies last week, but is down dramaticaly from a month ago. Lets get some trader thoughts now from scott bauer of trading advantage. Happy monday morning to you scott. Good morning angie. There is a lot of talk about this fisc
Slipped. 06 . We can talk all we want about whats going to happen next week in terms of earnings, stocks. And we will. But this time our game plan begins oddly and strangely on a sunday. Sunday when the treasury secretary of the United States of america will be on meet the press addressing the fiscal cliff situation. As a student of secretary geithner who has studied every move i believe he will report we are going to avoid falling over the fiscal cliff and get deal. In part because the two sides arent that far apart. They sound like they are but they may not be. Both sides recognize that we will be in a recession very quickly, maybe even as soon as the second quarter. If they dont compromise. So listen to me. The tax hikes are so severe. [ audience boos ] the spending cuts, particularly the cuts to the military, are so draconian even some republicans who think a compromise is a total betrayal, they fear the economic consequences of cliff jumping. Once a deal is reached. Tax rates, twe
Whats going to happen next week in terms of earnings, stocks. And we will. But this time our game plan begins oddly and strangely on a sunday. Sunday when the treasury secretary of the United States of america will be on meet the press addressing the fiscal cliff situation. As a student of secretary geithner who has studied every move i believe he will report we are going to avoid falling over the fiscal cliff and get deal. In part because the two sides arent that far apart. They sound like they are but they may not be. Both sides recognize that we will be in a recession very quickly, maybe even as soon as the second quarter. If they dont compromise. So listen to me. The tax hikes are so severe. [ audience boos ] the spending cuts, particularly the cuts to the military, are so draconian even some republicans who think a compromise is a total betrayal, they fear the economic consequences of cliff jumping. Once a deal is reached. Tax rates, tweaks and deductions, it could be game on in 2