Fireworks display was set to start on the left part of your screen. Of were going to keep our eyes trained on both of these, because were waiting to see if they will pull this off with such a drama occurring just, as i said, across the socalled plaza in that area. The fire raced up some 20 stories, torching a landmark hotel. Clearly, more than 20 stories were engulfed. First official said nobodys injured. Now reports at least 14 are hurt, but medics on the scene are saying 60 people hurt, some are burned, some have smoke inhalation, one person has had a heart attack trying to flee the scene. Evacuations, apparently, are completed. But, again, the details are very sketchy right now. They are claiming, the officials, that its 90 under control. Its important to note that some of the video on the right part of your screen is video that was taken just about an hour or two ago. So, again, they say that its under control or nearly under control. But the cause at this hour is still unknown. Th
Do with where crude oil is at this hour. Take a look. Falling to its lowest level now since 2003. Taking some big name stocks with it. I want to show you these moves because they really are stunning. The moves in freeport, marathon, alcoa, williams. When you realize how much theyre down, joe, this year alone were talking 12 days. Not even 12 trading days. Freeport is down 45 yeartodate. Williams 32. Marathon, 28. Alcoa, 27. That is stunning. This seems to be the moment. This seems to be what we feared. This seems to be the 2008 moment for the natural resources, the energy, the mining names. Its happening right now. Its the reason why the s p 500 cannot rally. Its the reason why i believe were going to take out the lows at 18. 50 to 18. 60. We need a bailout for the oil companies. Youre not going to get one. Well talk about that in a little bit, but what happens right now . Why is this happening . Youre seeing the High Yield Energy names coming under pressure. That leads to significant
I think. Yeah. Theyre gone now. Right around that 2 level, and there is a look, of course, at crude oil, which i have a feeling well be talking a lot about. Also, by the way, a lot on the s p caseshiller home price report. Its just been released. National index up 5. 3 . Unchan unchanged in if november from october. 3m, dupont, Procter Gamble and Johnson Johnson. Aig announces a major restructuring. Asple report after the bell will sales seem to be so bad as so many are anticipating. Stocks looking to rebound a bit from the Oil Prices Also moving higher, above 30 bucks a barrel, that would help markets at least seem so shrug off the drop you saw in shanghai overnight, jim. China, oil, china, oil, fed, china, oil, fed thats the conference. If were going to take a hike, well have. Like take a hike, get them off the table, saying well commodities. Inflation coming down. Maybe its at a level where they can just take a pause, then would you have a big rally. No one wants to come out and say
Decline on the day of the dax in. 8 , asdown 79 points, well. The russian ruble is falling after the central bank there held the benchmark rank and changed for the first time this year, at 11 . 68. 08 to six. For the brazilian real continues to trade a little bit lower, unchanged at the moment. That country getting downgraded yesterday. Financial markets in trouble there. The euro going to 1. 1270. The yield in the yes, dust in the u. S. , 2. 2 to the fiveyear 73 basis points for your twoyou appeared we watching reaction to Goldman Sachs suggestion that oil could go as low as 20 per barrel. Not the best case, but they say it could happen. If supply does not drop faster than demand. Now, west texas intermediate, 44. 70. Brent crude at 47. 71. A lot of chapter this morning about the 11 republican candidates who will appear in next weeks primetime president ial debate. Among them will be Carly Fiorina the former hewlettpackard ceo not among the 10 candidates they for the main debate last
Identify ebola victims, as the nationwide lock down continues. Plus 200,000 forced to flee their homes from a major storm in the philippines. Hello there. 49 turkish citizens held in iraq by the Islamic State of iraq and levant, i. S. I. L. , have been freed. Turkey denied paying a ransom to secure their freedom. They were flown na apping carra from southern flown in to ang carra using the Prime Ministers plane. Imran khan has more from baghdad. Reporter the former hostages arrived in ankara where they left from a Turkish Border town near syria. Also on the plane, the turkish Prime Minister. He said it was a preplanned intelligenceled operation. Many wonder whether a ransom was paid to get the 49 hostages out of i. S. I. L. Held territory. The turkish government claimed they didnt way ransoms. They knew where the host iments were and now they changed locations and said there were a number of rescue attempts to get them out. Companies on the ground didnt allow the rescue attempts to go