And conservative forecast. General elec profit in the co industrial u low crude prices could restrain overall growth. All that and more tonight on nightly Business Report for tuesday, december 16th. Welcome, everybody and good evening. Susie gharib has the night off. But if you like market action, then you loved today. Volatility was everywhere. In stocks, in oil, in bonds, and most especially, in russias battered currency. Lets start with stocks though. The dow was of and then up 247 point, it jumped 155 points in 30 minutes. Then came a slow fade that quickened in the final hour. Heres what the dow looked like in graphic form today. Kind of an ekg in desperate need of a betablocker. At the close, the dow was off 112 points, nasdaq down 57, a drop of 1. 25 and s p lost 16. Now down 1. 4 fo far. As for oil, it was a wood blast job too. At todays finish, west domestic texas crude snapped a four day losing streak. It ended a whopping 2 cents higher to close at 55. 93 and traded above 57
Weapon. Sue herera is off today. Simon is in at the New York Stock Exchange and we will go to him in a moment. But our top story is inz of rising above. Maybe, just maybe. John harwood at the white house as a meeting between the president and congressional leaders wrapped up within the last hour or so. John . Sum it up for us. Tyler, its a long way to the finish line but if you want to have a positive auspicious start to the negotiations, thats exactly what we got here at the white house. President obama brought the bipartisan leaders together. He spoke from a position of confidence having just won the election but he said we need to find Common Ground and when the bipartisan leadership walked out of the white house and addressed reporters in the driveway, positive notes were all they were singing. Heres a montage. The framework that ive outlined in our meeting today is consistent with the president s call for a fair and balanced approach. I feel very good about what we were able to ta
Smart phones to google, and selling motorola to lenovo, a huge haircut, but google is holding onto the valuable patents and it looks like stuart was right. Tv ratings for president obamas state of the younion at the lowt since bill clintons. Stay tuned, Varney Company is about to begin. The economy grew just over 3 at an annual rate of the last three months of the last year and thats in line with wall street estimates except consumer spending, that was as strong as its been in three years and say it again, the economy is growing even after or maybe because of Government Spending is in a freefall. Two news items out of washington for you this morning. First, president obama pushes for the two largest trade deals in u. S. History while a major roadblock, those obstructionists following president obamas state of the Union Address, this comes from Senate Majority leader harry reid saying he will not bring legislation to the floor that will give the president greater trading power. And reme
Innovative ways to invest in america. Thats why were here today. But first, take a look at this market. Holy cow. Did it happen again . The Federal Reserve issues a statement, things get better, Interest Rates might have to go up early next year. Really scary. That statement of commonsense is in a sellmore panic. S p 500 declining. 6 prkt. This show is coming to you tonight from the starbucks annual meeting in seattle. I dont know if its wake up and smell the coffee moment. Everything the fed has been saying, some entity had to help grow this economy. Higher rates being sell, sell, sell. For most of the professionals who take action, yes, indiscriminantly. So, when they perk up as they did, they sell. Kind of unrealistic, as business gets better it will indeed happen. Forgive me for playing the role of the cooler head in the field. For the entity of this miraculous run, the fed has said if the economy catches fire, rates may rise over time. It em boldens this fed to take notice. One da
Innovative ways to invest in america. Thats why were here today. But first, take a look at this market. Holy cow. Did it happen again . The Federal Reserve issues a statement, things get better, Interest Rates might have to go up early next year. Really scary. That statement of commonsense is in a sellmore panic. S p 500 declining. 6 prkt. This show is coming to you tonight from the starbucks annual meeting in seattle. I dont know if its wake up and smell the coffee moment. Everything the fed has been saying, some entity had to help grow this economy. Higher rates being sell, sell, sell. For most of the professionals who take action, yes, indiscriminantly. So, when they perk up as they did, they sell. Kind of unrealistic, as business gets better it will indeed happen. Forgive me for playing the role of the cooler head in the field. For the entity of this miraculous run, the fed has said if the economy catches fire, rates may rise over time. It emboldens this fed to take notice. One day