Whats even more peculiar, Energy Shares were among todays tom performers even as one of the biggest names in the sector said it will slash its capital spending. More on that in just a moment. By the close today the dow industrials rose 82 points to 17,574. Nasdaq gained 22. And the s p 500 added 4. As for domestic crude, it fell another 1 to close at 36. 76 a barrel. A report from opec pressured prices. The cartel says it pumped more oil in november than during any month in the past three years. Those low oil prices prompting Conoco Phillips to cut spending on projects next year by 25 . It also follows similar moves by other oil companies. Response in the stock price was positive with shares rising about 1 1 2 . Morgen brennan has more on the latest Energy Company torg feel the heat from the slide in crude. The u. S. Oil major releasing its operating plan and Capital Budget for 2016 sxid and the latest round of cuts are steep. Conoco phillips 2016 Capital Expenditures 17 billion down 2
Whats even more peculiar, Energy Shares were among todays tom performers even as one of the biggest names in the sector said it will slash its capital spending. More on that in just a moment. By the close today the dow industrials rose 82 points to 17,574. Nasdaq gained 22. And the s p 500 added 4. As for domestic crude, it fell another 1 to close at 36. 76 a barrel. A report from opec pressured prices. The cartel says it pumped more oil in november than during any month in the past three years. Those low oil prices prompting Conoco Phillips to cut spending on projects next year by 25 . It also follows similar moves by other oil companies. Response in the stock price was positive with shares rising about 1 1 2 . Morgen brennan has more on the latest Energy Company to feel the heat from the slide in crude. The u. S. Oil major releasing its operating plan and Capital Budget for 2016 sxid and the latest round of cuts are steep. Conoco phillips 2016 Capital Expenditures 17 billion down 25
Yes you are. Where are you . I am at the conference in midtown. Bloomberg justat dont want us together. All last week you were in vegas. Now i am across town. I just set down with mary jo white. I will share that interview with you in the next hour. We are going to be speaking with some of the smartest minds and biggest voices in terms of regulation. Forward to it. We will talk with greg fleming from Morgan Stanley. I want to get everybody started with the bulletin. The cost of being too big to fail just went up again. The Financial Stability board proposes new rules to have ranks have loss absorbing capacity. This would be about a third of this in debt. Once you figure it figure in s, banks may have to maintain 20 of assets. Those western sanctions are sinking russias economy. The bank of russia protects that gdp will stagnate next year. This is because of the conflict in ukraine. The central bank also said that the ruble has fallen too far and that sent currency trading higher agains
Liz first we take a look ahead to tomorrows gm hearing on capitol hill. Ceo mary vera will testify, but we have an advanced copy of her remarks. We have reaction on a number of fronts. We will start tonight with an attorney representing families of many of the People Killed when their gm car malfunction. Ball, welcome back to the show. I want to start with some of those comments that surly impressed me, mary talking about just how a victim Settlement Fund my get started and when. Here is what she said. I quote her here, mr. Feinberg has full authority to establish Eligibility Criteria for victims and determine compensation level. He has indicated he will show the final criteria with us by the end of the month. We can also expect to process claims by august 1. Does this surprise you . Is what you expected . I know you have talked to feinberg, what he has told you . Good afternoon, jerry. So, couple questions us first ms. Vera has been talking the talk now for some time. Im at ground zer
Paypal and amd in a moment. We start with a latest developments, from House Speaker Nancy Pelosis highly controversial visit to taiwan. We are seeing the First Response in china with one battery maker putting plans for multibilliondollar north american plans on pause. Lets get to philip for the details here. Fill. Melissa, the battery maker is see atl. The largest battery cell supplier in the world and theres a report this afternoon out of china that the company which is in the process of looking at possible location for a 5 billion ev battery cell plant either in the u. S. Or in mexico. That they are putting that announcement on hold. At least thats the report from reuters out of china. Keep in mind the importance here is that that plant would supply tesla and ford here in the u. S. If you take a look at shares of ford, keep in mind the see atl battery plant, once its online, would supply lithium, phosphate batteries to ford. Those of the lower cost batteries starting next year for th