Prices are down more than 30 percent. Saudi arabia pushed back. Here is the secretary general. Last four years and a half, we have a price decline. Theave to wait and see how market will set. I have said many times you that we dont want to panic. I mean it. Federal regulators are now formally debating a nationwide recall of 40 a faulty airbags. They have told japans to Cott Corporation to recall by december 2. So far, they have recalled the devices in areas with high humidity which is blamed on making bags malfunction. Gains in Consumer Prices fell for a third month in a row. For the first time ever, yield on the twoyear note fell before below zero. British prime mr. David cameron is raising the prospect of britain leaving the European Union over immigration. Cameron wants leaders to restrict welfare payment to immigrants. He also wants to reduce immigration levels. Immigration benefits britain. But it needs to be controlled. It needs to be fair. And it needs to be centered around our
Book says quote, weakened Manufacturing Activity was attributed to strong dollar, Falling Oil Prices and harsh Winter Weather. Here is some good news. The report noted many districts savings from Lower Energy Prices are driving retail sales this cycle as is improving weather situation. Melissa. Melissa wow, peter barnes thank you so much. Lets look at market reaction. Stocks near session highs. The dow is up almost 100 points. Bring in todays panel. Our very own charlie gasparino. John lonski moodys chief economist. John, i will start with you. You are the economist. What do you think of that . Looking at beige book we have need for very low borrowing costs. We have modest growth despite federal funds melissa we have need for Lower Borrowing cost . It is not working. Imagine what if they were higher when what we would look at. Things would be going downhill pretty quickly. Look at housing. We had a stretch when we had 10year treasury yield approaching 3 . Home sales are down yearoverye
Phil manning has details on the white houses proposed 4 trillion budget. The 1 billion impact for ukraine. Peter cook tells us how the ukraine is fueling the Energy Debate here in the states. Ukraine. The latest on president obama says russian president Vladimir Putin has breached international law. The present spoke to reporters earlier today on the situation in crimea. Thatere is a strong belief russias actions is violating international law. President putin seems to think has a different set of lawyers making a different set of interpretations. That is fooling anybody. Everybody recognizes that, although russia has legitimate interests in what happens in a neighboring state, that does not give them the right to use force as a means of inserting influence. Said heresident also has not spoken to president putin since the weekend. Lets get the latest on the und rumble bloomberg ground from bloomberg. What is the latest in the standoff . Much a tensel very standoff. Theres is an air bas
Were off the lows of the day but its the worst day of the market this year. Thanks for watching street signs. Closing bell starting in about two minutes. Or two seconds rather. Im not good at telling time. But ill be back tomorrow. And were into the final stretch. Welcome to the closing bell. Im maria bartiromo. Giving back much of the gains we saw on friday. And look whos back . I dont believe you hit 14,000 last week. This market doesnt look like 14,000 to me. Im bill griffith. What happened . The power goes out on the super bowl and on top of this super rally. Were on top of the first triple digit decline possibility of the year. Its something to think about in the final year here. Beyonce was that hot the lights went out. Whats behind todays moves lower are the earnings and the fundamentals behind this economy actually do not justify this incredible run for this market. Were going to hear both sides coming up on the closing bell. We will. Plus a realtime check on cloroxs company ea