S p futures off by five. A coalition of middle eastern forces pounding targets for a second day. Oil prices surging after a first roun of military action but right now crude oil prices are falling back down. Down over 2 for wti. Goldman sachs saying the strikes would have little impact on oil supplies because yemen is a small producer of crude but theyre worried about instability in the region. Crude oil prices are backing down. You can see wti is down by just over a dollar. 50. 28. Theres also a straight there with Something Like 4 million its the fourth largest position where oil is being moved through that. Just in trying to understand who is allied and who is not allied its almost impossible at this point and the talks, whether were doing it just to try to diffuse the Nuclear Situation and were not interested in being an ally of iran for some reason were definitely it looks like at least the people over there i heard on the other news networks, it looks to some people theyre not su
Where at points it was really coming down hard there. Glenn hurricane schwartz is here with the forecast. What a wet start to the week glenn. A very wet start. We have a break now from the heavy rain not from the low clouds and the fog. As we get some sunshine this afternoon, that is going to allow the temperatures to go up and the threat for severe storms to go up. Thats why we have a first alert issued for late today and this evening for the potential for severe thunderstorms with damaging winds, large hail and possibly even a couple of tornadoes in the area. You can see the heavy rain moving out very fast. Of course, we still have a lot of low clouds around. More rain back to the west, as you can see there. Not that much yet, but we have to wait for the sun to help trigger some of these storms. The highest threat of severe storms later today goes all the way from North Carolina up toward the philadelphia area and again it includes many of our counties in pennsylvania and new jersey
The tech giant accounting for 10 of the move down in the blue chip index and joe you were right. Not yet. As it goes. So goes apple, so goes the market, right . Not just that but made very little headway since it was put into the dow. The dow made little headway and apple made little headway. Theyre joined at the hip at this point. Our fortunes are tied with tim cook. Hopefully he knows what hes doing there. My point to you that you sneered at about exxon, exxon was able making 10 billion every quarter. They were going to make 10 billion every quarter for the rest of he certainty. Then suddenly they were making 5 billion so suddenly that price. Makes sense. Thats what worries me. Apple is a Great Company with great stuff but their comps year after year to grow its huge. Its 56 billion in revenue in a quarter. But at this point they are on track for some of this stuff. It was up from the year before. If theyre continuing to grow it should be above what is it . Still 7 is goith tong to g
We start the hour with breaking news. The futures are surging on the news that the fiscal cliff has been averted. Welcome to squawk on the street. Im melissa lee. First trading day of the new year, poised to begin in rally mode. Keep in mind, this is off of the big rally we saw on friday precliff. The biggest gain we saw in the month of november across the board. This, of course, as Congress Takes measures to avoid the fiscal cliff. Take a look at this. This is something you dont see too often on wall street. The dow looking at about 202 points at the open. Look at the picture over in the european markets. The optimism has carried over there as well. The dax is higher by 2 . Italy up 3. 5 . But of course, jim, what a twoday streak of gains we will see here on the market. I think that were set up to go higher. I also want to caution i dont like to buy up 2 , 3 . Thats never been a terrific way to get the year started. Theres a lot of money coming in. I do want to be optimistic about 201
Yield. How much is the u. S. Government paying you . There you go. Crude oil which we have been taking a lead from. Ive got good stuff on crude. You do . Cant wait to get to it. We start with twitter. Sheriffs getting hit hard after the Company Reported Slower Growth and guidance. Not good for the rest of the year. A couple of dow components reporting before the bell this morning, as well. We are going to have headlines on two big names for you. Talking pfizer and dupont. Plus, apple and alibaba working together. Ceo jack ma hes not the ceo, hes the founder of alibaba. He speaks at length on that idea and well tell you what he had to say in a couple of minutes. Far from the ceo. Joe tsai is not even the ceo. Twitter shares are down sharply premarket despite posting revenue that doubled in the Third Quarter and beat street forecast. Q3 the number of users that logged into that service once a month rose 4. 8 . That represents Slower Growth compared to the prior quarter. In an exclusive,