Derailed. Thats about 45 miles west of fargo. Smoke can be seen up to 20 miles away. Residents within five miles of the fire have been evacuated and urged to evacuate, rather, and residents within ten miles have been told to stay indoors. Both trains are owned by Berkshire Hathaways bnsf. No injuries so far have been reported. We should say the fire will likely raise some concerns, though, about the increasing volumes of crude that are shipped by rail. Right now, more than twothirds of the states Oil Production is shipped by rail. Were going to go to michelle with more of the top news stories. Happy new year. Its nice to ring it in with you, andrew. Its very nice to be here. Warren Buffetts Berkshire hathaway is buying philipps 66. Berkshire reported owning about 27. 1 million shares of philips 6 6 at the end of september. That stake is worth just over 2 billion. A phillips 66 filing said it would be getting 19 million of those shares in explaining for the specialty product focusing on
Earlier, just up a hint now, just a touch. Meanwhile, the nasdaq, the s p500, and the russell, as you can see, down slightly on the day after christmas. Retail stocks are casting a follow on the market, the s p500, the high end end names, all in the red. We got coach, high end retailers such as tiffany moving lower, ralph lauren, urban jut fitters lower on poor data on sales this Holiday Season, and its all due to the latest Holiday Spending figures that the stocks move lower. Sales decreasing at a slow pace since the recession hit in 2008 according to the mastercard survey, the latest one. Well pick apart the numbers later on in the show. Hey, but check out crude oil, jumping today, up more than 2 , 3 on the day, near 91 bucks a barrel. First, theres optimism about a budget deal, perhaps in the next few days, optimism, isnt it, and supply concerns, iran is conducting naval test exercises and a strait of hormuz beginning tomorrow through the weekend. That could be a touchy situation an
Lets check in with Lauren Simonetti. Another record day for the dow and s p. Lauren absolutely. 12 more hours until 2013 ends on wall street. The dow at a record high as we close. The dow took out another intraday high. It closed at a new high. The nasdaq hitting a fresh annual high. A solid day of volumes. Also to the upside, the vix popping a little bit, but still maintaining the gains for the year. Shares of ibm, you look at the dow 30. 29 of the 30 dow components up. Many of them up better than 50 . The sole loser is ibm, down about 3 in 2013. The first annual loss since 2008. Back to you. I just went around the floor looking for white wine as a joke but everybody has read. Adam exactly. I will be rubbing that into cheryl. Wall street 2013 gains actually reached and final gone to main street . The majority are actually feeling optimistic about the economy once again. Wall street journal economic rigor in fact ms. Contributor steve moore joins us to talk about what this paul truly m
Cliff. Our very own lou dobbs is not buying it. Adam our very own Nicole Petallides is on the new york stock exchange. Where do we stand right now. Right now the Dow Jones Industrials are down nearly 60 points. The nasdaq composite is down three quarters of 1 . Not a great day here. There are concerns about the fiscal cliff. We just have the deadline timeclock up again. We know that we have very accommodative feds. Lets take a look at some european markets. Finance ministers have been discussing things including giving them more power. These are some of the things that they are looking at closely. We had seen europe really pushing some new recent highs. That is something that pushed us along in the last couple days. Lori a showdown in washington. Sparring over a dead deal. It does not look like either party is ready to budge. Where are we now, rich we are still in the middle of a work in progress. That could be a little bit of an understatement. Democrats say they want a commitment fro
Is over for now. At the last hour the house and Senate Passed a bill to extend the debt ceiling. It can be the bill but only until february 7th. The government will stay funded until january 17th. The spending cuts of the sequester stay in place. The markets like the deal and by thursday the s p 500 closed at an all time high. General electric beat analysts expectations. The revenue fell short. Ibms revenue missed and the stock was down. Financial Companies Reporting earnings include citi which fell short of estimates. Goldman beat estimates. Washington managed to step back from the near crisis it created but we may have to do the same thing all over dpagain in a few months. What impact does this have on the markets . Joining me is komal srikumar. Thank you for joining us. We had a report out this week from standard and poors which said it will probably take about half a percent out of gdp as a result of shutdown. What are you expecting . How much damage has been done to the economy as