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
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
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
Spirited discussion about the themes here. That ford on bloomberg surveillance, Arnie Sorenson from Marriott International has a global feel for the ebb and flow of American Global business. Ken rogoff joins us in a bit, a lot to talk about. Whereeems to be a davos the business crew, the corporate crew is taking over the meeting. Corporations are everywhere. Hans nichols was showing the helicopters with london tv, they are out. Joining youe shortly. We need to get to Michael Mckee with our morning brief. You are going to play weatherman. So coldannot avoid it, and so much snow on the east coast. Over in england, bank of england has released minutes showing that members saw no need to raise rates soon, u. K. Unemployment is supposed to be the trigger at a threshold of 7 , they are supposed to consider raising rates. Like 6. 5 in the u. S. The u. K. Reported unemployment is at 7. 1 , going to raise the question of what they do sooner rather than later. In tokyo, no change in bank of japa
Behind. Lets check in now first with sue at the nyse. Hi, ty. Stocks beginning the week on a down note. That follows last weeks big selloff. Still some fears about corporate profits persisting out there but we are seeing a bit of a rebound in technology which of course was key in last weeks selloff. Well see whether or not it can maintain its leadership. Bob pisani joins me on the floor of the nyse. Not unexpected that we would continue to see a little bit of selling but it certainly doesnt have the pressure buildup. Are we at a bottom in earnings at all. Its still out. Whats encouraging, tech stocks, a horrible week last week, a lot of companies disappointed, microsoft and ibm. A little bit of stabilization here. Thats good to find some kind of bottom. Ibm has stabilized, but General Electric hasnt. Were down again today after some disappoint yesterday. One of the biggest volume days ive ever seen in General Electric on friday. Heavy volume again today. Down almost 7. 5 . Ge in two da