Speaker ryan good morning. Yesterday i spoke with Governor Abbott of texas to discuss the Recovery Efforts following hfer. Hurricane harvey. I relayed how inspired we all are by the people of his state. It is something to see. I express our commitment to quickly provide resources to the region. In addition, i spoke with our delegates from puerto rico and the Virgin Islands about the devastation that is occurring right now with hurricane irma. This morning i spoke with President Trump about the urgency of our relief efforts. Its a gad thing, but with new technology, fema is moving money faster than ever before. That is why theres a sense of urgency to get this relief package done. Right now were thinking about everybody in irmas path. This hurricane, 185 miles per hour. Our thoughts and prayers are with the people in the path of this current hurricane. This morning, we had another productive meeting. Thats why i was late. We had another productive meeting between the white house, senate
Inventories, a much bigger drawdown. A drawdown of 5. 9 million barrels, compared to the survey calling for a drawdown of 3. 1 million barrels. Whats happening now, Hurricane Harvey, of course, took refineries offline. That, of course, caused oil to be in less demand building. We are seeing a bigger build than expected. Gasoline not produced through the refineries. A bigger drawdown. He would not be surprised by this report because he thinks some of the economists surveyed probably did not have the u. S. s exporting activities influenced. We did not the ports were closed, so we were not able to export or import oil. Take a look at the intraday chart of oil, not that much of a reaction, about 0. 5 on this report, first down day in five days. Has had a pretty big rally recently. Today, taking a bit of a breather. Sometimes it takes a while for the reaction to come in. Lets take a look at the major averages, slipping between small gains and flipping between small gains and losses on the d
Welcome to squawk alley for thursday were at post 9 of the New York Stock Exchange were getting some Oil Inventories in a moment here Hurricane Irma makes its way to florida as a category five storm, slamming into several islands in the caribbean overnight. We have Team Coverage this morning. Wmaq meteorologist is back at hq phil lebeau is in chicago. Lets start with you we have a very strong category 5 hurricane that is going to churn over warm waters and low sheer, those help keep the hurricanes moving at the intensity that they have if you look behind me, you can see a very strong, very wide large hurricane first going to be moving towards turks and cake yoes as it moves forward tonight. Then eventually going to be making it to the southeastern part of the bahamas. And then the eye set on south florida. Still, were watching some questions and some points that we have for you as we move forward in the next few days the potential path as of right now could have this storm moving right
Tilt. Divided Republican Party could not deliver the votes to get things done. The president turned to democrats who could, now what . The president is cleared decks crowd of legislative calendar no longer quite so crowded and democrats involved limited tax cutting legislation looks likely to pass the republicans in disarray leadership stunned by the president s tilt conservatives furious democrats got what they wanted they are happy looking forward to december 15 when funding of government will be an issue all over again, sum it up this is a shock to the political system, it is a political realignment, in a moment we show you the markets reaction to all of this irma looks like eastern see board takes the ive got to start with irma, it is still a monster remains category five storm. It looks like it to hit the east coast of florida. Right hand side of your screen storms track on the left, youre looking at long gas lines in florida. As people are try to get out of the way. Mandatory eva
Buying and half next year. In half next year. Matt, good morning. You. Good morning to pleasure working with you on this friday. There was a lot going on, especially in this part of the world. We have some moves on the ftse, down. 2 in futures. We are looking at equity index futures. Dac and cac ore euro stocks at large. There are interesting stories if you look deeper into the trade. Take aas the risk move, look. I have 10year treasurys up right now. U. S. Treasuries show you what investors think. This is the last three days. We have the yield continuing to come down, down, down over the last three days. Remember bill gross said we need throught go up 2. 4 and that before the 30 year bond bull market is over. We are nowhere near that. I am going to show you the bitcoin price. A threemonth chart, but if you look at it, yeartodate, and i will put that appear, i will put that up here, up over fivefold. Think of what it is up against, jamie dimon says it is a fraud. It might split again.