Positive happened today. The stocks of the companies that were most on the ropes in the oil patch like chesapeake, freeport and other dead man drilling stocks actually read the rally and that reassured buyers who flocked to many of the beaten down sectors in this market. Let me tell you why. For ages oil has been dragging down the whole market because of a false sense that demand for crude is declining. Machines that sell stocks when oil goes lower may make them money. It doesnt make them right. I dont want to argue facts. The fact is the demand for oil is going up, not down. There is a consequence to oil going down, when when its a supply glut not demand softness. We get very concerned. Worried, frightened about Oil Companies where the cash flow from the wells isnt great enough to cover the debt load. Horizon. This is a big but. If crude could stay between 35 and 40, a few bucks higher than now, many of the troubled Oil Companies can pull off the unthinkable and stay afloat. That woul
Ceo john donahoe called the corridor challenging. They showedow ecommerce search results weighing on the business, but the paypal unit showing solid growth. Pay 450s agreed to Million Dollars to settle allegations that it conspired to fix ebook prices. The trial between them and 33 attorney generals was going to start this month. Tole just paired with ibm improve enterprise business. To our lead story of the day, Rupert Murdoch looking for a new piece to his media empire and hes hoping time warner is the perfect fit. The warner has rejected initial bid and murdoch is said to be willing to pay more to get cnn, turner,hbo, and more. It was first brought to the attention by murdochs deputy over lunch last month in new york. A numberncerned about of factors including succession plans, the fox share structure, and the future of cnn. I want to bring in senior west coast correspondent Jon Erlichman with us from l. A. Thise been reporting on all day long. What is the latest on what we know now
Ecommerce search results weighing on the business, but the paypal unit showing solid growth. Apple has agreed to pay 450 Million Dollars to settle allegations that it conspired to fix ebook prices. The trial between them and 33 attorney generals was going to start this month. Apple just paired with ibm to improve enterprise business. To our lead story of the day, Rupert Murdoch looking for a new piece to his media empire and hes hoping time warner is the perfect fit. Time warner has rejected the initial bid and murdoch is said to be willing to pay more to get the owner of hbo, cnn, turner, and more. It was first brought to the attention by murdochs deputy over lunch last month in new york. He was concerned about a number of factors including succession plans, the fox share structure, and the future of cnn. I want to bring in senior west coast correspondent Jon Erlichman with us from l. A. Youve been reporting on this all day long. What is the latest on what we know now . Well, look at
Good morning. It is a wednesday here in new york city. Youre watching Market Makers. Now, we willom hear from president obama. Before then, breaking news on housing markets. New home sales are officially out. Michael mckee has the new headlines front and center in the newsroom. We have a whole account housing. We have been disappointed but new home sales rose 18 in the last month as people went back and started buying. We also see a big decline in the number of houses available. , we have seen disappointing housing starts. That is starting to come home to roost. We have only a 4. 8 month supply down from 5. 5. 5004000 range. This is the biggest since before the economic crisis. All of a sudden, americans decided they did not just one existing homes. They won 18 increase in new home sales for the month of august. All right, michael. We are waiting for president obama to address the u. N. Is in d. C. We see the brazilian president speaking live and president obama will follow her in a fe
One of the issues that does concern me is our national defense. I have washed us around the world i challenge some people. Is there any country in the world that we have a stronger relationship with today than we had six years ago . I said that, too. But i was corrected. Somebody said iran. Somebody else said to cuba. Its about that. A while back i was in egypt and they told me 98 of the threats that all the relation together with egypt have been suffered by the Foreign Policy of this president. There are good people that we can work with. There are moderate muslims. General sisi made the strongest statement from the muslim world ive ever heard and hes a man we can work with and we need to do so and thats a piece of what we need to do to put america back into safety and security. I will challenge the folks that speaker today and those that aspire to the oval office, lay out a plan force. Lay out the plan to defeat radical islamic jihad. [applause] lay out their plans so it isnt some ki