We start with the equity markets which is moving higher as the fed meets to decide whether or not to begin raising rates. Lets look at the numbers with the dow, the nasdaq and the s p. The nasdaq and the s p are now tracking for their second consecutive week of gains. Something that neither has done in nearly three months. But, ty, the real action here is in the oil market this hour with oil soaring. Wti crude up by 5. 3 . It could still be the biggest daily gain since august 31st when wti jumped nearly 9 . Brent crude, and weve been talking about the spread there narrowing, havent we, ty . But its up by 4 as well. Jack Jackie Deangelis is joining us from the nymex. Lots of people bringing lots of reasons to the table as to why we took off. You tell us what youre hearing. I have three main reasons that were moving higher, a spike like this today, 5. 5 . The first is that bullish eia report. A drawdown in inventories. Cushing down nearly 2 Million Barrels. Refinery runs are going up, an
Imports plunged almost 20 on falling Commodity Prices and week domestic demand. Hello. Welcome to countdown. Also coming up today, australias Prime Minister with a threat to his leadership. Will it be tougher for tony abbott to address his countrys weakest economy in a generation . We start with our bloomberg exclusive this morning. The governor of the central bank of russia has told this channel that russia will not inflate its way out of the financial crisis. In her first ever interview with an International Broadcaster, Elvira Nabiullina told Ryan Chilcote the bank is unlikely to reverse last months surprise rate cut. Inflation is set to slow, having accelerated its fastest in almost seven years. Ryan is here now. Fascinating conversation. We started with the ruble. I asked if one of the worlds worst performing currencys last year, if we can expect more collapses. There is talk of that. She said, no. Have a listen. We are not expecting any massive decrease in the rubles Exchange Rat
But it seems people would rather have the tortoise than the hare. The question about this one is whether we will get the same result. Yields are moving up. Well talk to Rick Santelli about that. Gold is getting slammed. Oil has been a little higher today and it goes back to the jobs report. Its jobs friday. Well see how that wraps up trading with an hour to go. The dow right now is down 57 points as traders troo toy make sense of where this leaves the fed and what happens next with the u. S. Economy. The s p is off 5 points and the nasdaq down 15. Declines of a quarter to a third of a percent across the board at the moment today. Twohour closing bell panel. Scott cavanaugh of first national. Weve got eric stein of eaton vance. Christine short from he is estimize. Weve Steve Liesman and Rick Santelli in chicago. Steve liesman, 257,000 jobs created. The Unemployment Rate dipped goes up to 5. 7 . Regale us here. Theres a lot to regale you with, bill, because i think the big story is not s
Global stocks on track since 2012. We begin with the final trading day of the month and quarter. Hong kong stocks closed lower amid continuing protests. Paypal will be spun out to its own publically traded security next year. The stock spiking this morning. We have more from ebay ceo john donahoe. Caseshiller home price numbers are out. Well talk with Robert Shiller first here on cnbc. Well discuss that decision by ebay to reverse course for something the company was articulating was not a good idea, namely splitting itself into its paypal. Ebay represents more of the profits, but is not growing as quickly as the paypal business. I did have an opportunity to catch up with ceo john donahoe late yesterday. When he was fighting with carl icahn in a proxy fight earlier this year, he said a Payment Network needs a Commerce Network bike ebay. Its no wonder they are getting into payments and Payment Companies are getting into commerce. Ebay helps accelerate paypals growth. I asked mr. Donahoe
About three points going lower here, and the nasdaq were keeping an eye on that one. Its going to be all about the nasdaq this week. Eerily similar to the exact same time of near 15 years ago the nasdaq closed at alltime highs. Its closing in on 5,000. It just turned negative on the session. Were off five points. 4,963 is the level. Were talking about 35 points away from crossing 5,000. Well have lots of numbers coming up on this. Obviously on an inflation adjusted basis you would have to of that index at 6,800 to have it equivalent you could argue. You have that number just right at your fingertips. We were just looking at it but a lot fewer companies as well. In the nasdaq this time around you have Something Like 2,500 companies versus 4,700 last time. Janet yellen getting grilled by the house on the feds independence. They were pretty feisty. Well get reaction from House Financial Services Committee Chair Jeb Hensarling coming up later today. They were really going after her. Oh, ye