Well Oil Prices Fell to their lowest level in nearly five and a half years. They settled at 63. 05 a barrel, barry worth the price of carrying this barrel along. And getting below 63 in the trading session, sometimes creating a good plan for people trying to get more gas at the pump. In less than six months the price of a barrel of oil has dropped about 41 . The main culprit for this is an oversupply of oil in the world, and decreasing demand. At the same time, americas fracing boom is adding to the oversupply. There might be as many as a million extra barrels of oil than the world demands. Saudi arabia the swing prices upward if he wants to. It says it is keeping his levels at the same level for the foreseeable future. Gasoline prices have come down to their cheapest level in four years. The National Average has falled to 2. 67 a gallon. Thats more than a gallon lower than it was in june. But that is bound to drop to 2. 50 a gallon after christmas. And oil prices could dip to as low a
In the First Quarter, a drop from the First Quarter. Analysts were looking at increase. That really speaks to the idea that the volatility we have seen in the Fourth Quarter is not necessarily helping revenue. Reporting its first training revenue since the financial crisis. The volatility people thought would be good has turned out to be a bad volatility. Also in the citigroup report, we have a Net Interest Margin of 2. 92 . It is a little bit better than what analysts have been looking for. An improvement over the Third Quarter as well. Wells fargo at 2. 4 , slightly better than what it had been anticipated to report. Still looking at 20 year lows. It is a continued weight on the banks. Trading right now is down about 2 . Thank you. We will check back in with you later. I wanted to give our viewers a look at the top stories. Definitely at the top of the list. The central bank has rocked the Financial Market this morning. Its minimum Exchange Rate against the euro will no longer fund a
Front door. Happy friday. This is Market Makers. Schatzker. I am i am scarlet fu. It is up to the senate in the Upper Chamber beginning debate on a 1. 1 trillion spending bill just hours after the house barely managed to pass it. It faced strong opposition from the left and right. Elizabeth warren and ted cruz have both threatened to block it. She is worried about a provision that rolls back part of the wall street reform bill and he was to block president obamas immigration plan. The senate has until saturday to avoid a Government Shutdown. Wholesale prices are falling. In november, Producer Price index was down 0. 2 , the strauch sharper than forecast. Economythe overall picks up steam. Oil cost is playing a big part. A data point the fed will be looking into when it meets next week. Pressure yet again this morning after the International Energy agency predicted demand will be weak and supply will be strong. The iaea is protecting what is a vicious circle or virtuous one, depending o
Its official, halliburton buying baker hughes for about 35 billion, and weve got more on activists and the fight for allergan. Forget wasting time at work. Menlo park reportedly developing facebook for your office . Moving in on google, microsoft and linked ins turf, down 3 in the free market. Numbers inside japans recession, gdp down 1. 6 following contraction of 7. 3 in the prior quarter. This week japanese Prime Minister abe expected to announce delaying plans to race the countrys sales tax and call for parliamentary elections in december. Estimate was 2. 2, to the upside. No one expected this to happen. Now a bunch of policy decisions to make. Do you suspend sales tax . This felt like 1937 in our country where they thought, you know, weve done enough to make it so were coming out of the great depression, lets start raising taxes, be more conservative. There are a lot of people saying that, you know what, this was just being prudent because the country itself is so in hock. I saw th
Alabama, which says marriage will be between a man and woman. Reporter what was the last week like for you . It was sort of sure reel, i never thought id see gay courthouse. Im joie chen. A state of confusion surrounds samesex marriage in alabama. The 37th state to allow gay marriage, in a fight that pits the Supreme Court against a federal judge. There has been a back and forth over the last few address. The bottom line is alabamas chief justice is determined to hold the ground against samesex marriages despite the full courts innocencesistence that its not a state row to do so. Pulitzer prize travels to alabama to see the show down on the court steps. Anything that could happen. Reporter these women say theyve been spiritually married, but like many, they wanted more. To be legally wed. They spent a cold night camping out on the courthouse. Not knowing what bring. Gay marriage will happen. It will happen some time, you cant kick and scream. I dont think anyone can answer why not. Rep