Cfo will join us first on cnbc. Staples and office depot higher in the premarket, reports two in advanced merger talks. First up Oil Prices Rising sharply on expectation of decline and u. S. Drilling activity. Bp posted better than expected quarterly results. Bp ceo bob dudley spoke this morning. I think its going to take time. Could be a long time. There is excess supply. U. S. Productions still growing. We see about the rig counts what its growing. And chinese demand of course great. Growth in china is not as high as it was. So we have stock levels filling up all over the world, tanks filling up. Wont be long before people putting them in ships and that take is along time to work its way off. Is there a lot of oil news today. Thats just one data point. I love bob. Hes late here. Theres already been a dramatic increase in the number of financial players taking down tankers. If you look at nordic and american tanker they will tell you that is happening now. Whats interesting and bob du
consensus of 200,000. the unemployment rate did tick .1% lower to 7.6, guys, the result of a labor participation rate. the lowest since 79. what do you think? look, this is just bad, okay? i m a silver lining playbook kind of guy, i don t have one. yes, you are. i m trying to put myself where we were in our heads three, four weeks ago thinking, we heard about sequester. we heard that this was going to be a paralysis and the people were going to get laid off. that put the fear into a lot of employers. i do think that this is on washington, now you can say some of it s europe and some of it s china, and that s why i blame this number? do you think this is a sequester effect? sequester, payroll tax and increase of the rich. they want to increase the tax on the rich even more by changing the deduction level. they re very out of step with the country. they think that what with they did did to hurt and we would layoff people left and right. look at dell. look at f-5. is it