Oil this morning. Gain of 1 and a third percent. Prices decline nearly 9 just in the last three trading sessions. In case you missed it last night, the worlds top supermodels hit the cat walk. Wearing the most expensive bra encrusted. Dow chemical and dupont advance talks to merge, a merger can be announced in the next couple of days. Together a cap of some 120 billion. A deal would result in a threeway split. First they merge and then they split it off. Keith mccullough, record and tough deal for the industrial company. You have said in many times its in recession. More than 4 trillion in takeovers over time. Keith thiswhen things slow people have to buy growth and join each other. We cant do this, we didnt do that. Boom, all of a sudden theyre basically agreeing that nelson said and you get a lot of value creation. At least thats what the market is implying. Thats a big move. This is what you to deal daytoday. Everyone is going to agreed to get married at this point. Maria you wonder
That this market cannot bounce to safe its life. Each time it tries, sellers come in and push it back down. Much of that now has to do with oil, which was up nearly 4 today. Only to drop on that inventory data. Take stocks right with it. I think thats the biggest question now, joe. Why cant stocks in a tremendously over sold market catch a bounce . You just answered the question. It is about oil. The last two sessions weve had bullish activity as you approach the close that kind of lifted the market away from that potential overnight whoosh you would get. We keep talking about it from 2014. It doesnt mean the stock market cant have a bounce before doing that . The stock market listen, the market have very oversold. If Oil Stabilizes and if Jeffrey Gundlach is correct that yesterday of as shortterm low in oil, then, yes, we could have a bounce, but i dont think its sustainable. I dont think theres one thats going to reverse a lot of the negative price akt action that we have had not jus
Week in the futures market. The nasdaq would be down about 10 102 points and this comes after the dow closed in triple digit negative territory yesterday despite a big spike in oil. We did see another negative session in asia. Of course among the big reasons, new Economic Data showing chinas Manufacturing Sector contracted last month. It contracted at the fastest pace in three years. The official number contracting for the First Time Since february. You can see how the Chinese Markets are he reacting to that. Down about 1. 25 but you can see a sharply reaction in hong kong and shen seven which shows chinas higher growth stocks. Meantime, exports from south korea tumbled by the most in six years so that is also effecting the markets here. Shanghai composite was down as much as 5 before recovering to close down 1 thanchts loo. That looks better. We have to switch the percentages. Soon, now, today i think. Instead of arresting people that are selling stocks like in china. Thats first reac
Two feet. Boston may top attitude feet instead of three. More than 7000 flights have been canceled greater the travel ban has been lifted along with several neighboring counties. Policymakers will start their meeting today. They are not expected to raise Interest Rates. Inflation slows down. The yield is approaching a record low. A number of earnings reports to talk about. Caterpillar came up short. The maker of heavy Construction Equipment missed wall street estimates. At procter gamble, it fell 31 . The stronger hurt sales. Fourth quarter your earnings earnings beat expectations at pfizer. The new Prime Minister of greece is filling out his cabinet. It should not be a fries a surprise that he picked someone who is a critic of the greek a lot. A lot. Bob kraft has gone on the attack. He said if the nfl finds his team did nothing wrong the league should apologize to him. The nfl probe is focusing on a locker room attendant. This is according to fox sports. Bill belichick said the story
Economy. The big driver for todays selloff is retail sales despite deep discounts, lower gas prices and a robust labor market. Combined with more volatility and oil prices and a lower forecast for Global Economic growth sent stocks on another wild ride. The dow cut an early 350 point loss in half ending the session down 186 points. The nasdaq lower by 22 and the s p was down 11 points. In the bond market the yield on 30 year treasuries hit record lows while the yield on the benchmark ten year note hit the lowest level in nearly two years. Crude bounced between losses and gains spiking higher into the close, up 5. 5 to 48. 48 a barrel, its biggest one day percent gain since june of 2012. With gas prices down and retail sales falling, what is the state of the u. S. Consumer right now . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now a huge Oil Producers, wouldnt it be a drag on the economy or a benefit . Second, and th