And well talk about that, whether the markets weary of chair yellen. Also, were expecting perfection. Anyway, when the bell rings in about an hour, thats when the action here might really heat up. At 4 00 p. M. , a new crucial rounds of Bank Stress Test results are due out. Well have that vital report on which banks made the grade and which did not, if any. And the financials have been very strong today, as they were yesterday. 18 of the s p 500. Jpmorgan is up like 6 this week. So expectations, if you want to put it this way, are pretty high. Well find out more in about an hour. Plus, nike reporting earnings. Keep it here for the numbers on that one and what it means for consumers. Of course, tomorrow morning well shift our focus to tiffany. Thats still some time away. A busy hour next hour. Thatll be fun. Plus, googles larry page says if he had to give away his billions, he would rather give all that money to elon musk than any charity. Now, before you judge him, wait until you hear
Derailed. Thats about 45 miles west of fargo. Smoke can be seen up to 20 miles away. Residents within five miles of the fire have been evacuated and urged to evacuate, rather, and residents within ten miles have been told to stay indoors. Both trains are owned by Berkshire Hathaways bnsf. No injuries so far have been reported. We should say the fire will likely raise some concerns, though, about the increasing volumes of crude that are shipped by rail. Right now, more than twothirds of the states Oil Production is shipped by rail. Were going to go to michelle with more of the top news stories. Happy new year. Its nice to ring it in with you, andrew. Its very nice to be here. Warren Buffetts Berkshire hathaway is buying philipps 66. Berkshire reported owning about 27. 1 million shares of philips 6 6 at the end of september. That stake is worth just over 2 billion. A phillips 66 filing said it would be getting 19 million of those shares in explaining for the specialty product focusing on
Moment. Payback, right . As somebody who has had trouble once or twice on the George Washington bridge getting close to arriving. But arriving on time, im now well, now were one for one, i guess, because i had my one incident a couple years ago, and then i got close a couple of times. Joe looks good. Very dapper and hes so quiet. What was that, joe . Keep the camera on me, please. Thats the joe we know and love. Anyway, joe is on his way. Again, he had trouble and hit a pothole just outside of new york. Hell be here in just a little bit. The Global Markets reacting to the feds decision to begin tapering next month. The dow surging to a new alltime high adding nearly 300 points to close at 16,167. In asia, a mixed reaction. In japan, the nikkei closed at a sixyear high gaining nearly 2 to close at 15,859. Right now in europe, youll see at least with the Early Morning action that they are getting some pretty positive numbers there. In france, the cac is up by 1. 4 . Same story in germany
50 points after that first day selloff yesterday. The dow has been up and down today. Now adding 50 points as we enter the final hour. Keep an eye on the nasdaq which is in the red. Its had the worst performance to kick off the year. A lot of component, apple, gool google microsoft, not holding up well for the last couple of trading sessions. Technology not playing along well this hour. Ben bernanke this hour. Yes we do. Hell be delivering what some characterize as his farewell address. Steve liesman telling us in the last hour the headlines from those prepared remarks. But in a little while, there will be a q a session. Those often can make marketmoving news and it will occur in the final minutes of todays trading day. Well take you there live when that gets under way. Good point. Those headlines didnt move the market when they hit, but we have heard comments which are having more impact on market today. More concerns on the troubled obamacare law. New reports that newly insured peopl
More normal approach to monetary policy. The nomination is set to begin at 10 00 a. M. Eastern time. In the meantime, outgoing chairman ben bernanke says the central bank will remain alert to preventing inflation from declining too far from its goal of 2 , falling too far below that. Were going to talk about the future of the central bank with greg ipp and ir neil irwin in the next hour. He says he expects to taper in the next couple of months. Beyond yellen and the fed, a few other economic event toes watch today. We have weekly jobless claims at 8 30 eastern time. At the same time, the september trade deficit hits and Third Quarter productivity and labor costs. Futures at this hour well, you have to remember yesterday we did see things closing at record levels for both the s p and the dow. Nasdaq closed to a 13year high. But with that news from cisco, you can see futures from the nasdaq ended down by 6. 5 points, now durchs up by 26 points and andrew, back over to you. Boeing machini