1. Newspaper, alle 2000 London Police officers are authorized to carry a gun on duty. Intelligence agency has warned that islamic terrorist may be planning the attack and a european city. Market news with julie. Julie if you take a look at features this morning, you will see very Little Movement on this last trading day of 2015. That means there is as little suspense. We do not know if we are going to have a gain or loss for the s p 500. If you look at the year to date chart, we are hanging onto a gain of. 25 . What happens today will be pivotable if stocks rise, that will be the fourth consecutive yearly gain. If they fall, it will be the worst year since 2008. In 2011, stocks were almost unchanged on the year. So, interesting here that we do have its down to the wire on the last day. Want to check on crude oil prices put a have been watching closely this year as well. There, too, youre seeing them unchanged. Very unusual but perhaps not as unusual on the last trading day of the year
European central bank and the bank of on england are holding policy setting meetings today. The ecb is trying to deal with the slow recovery and inflation thats too low. Well have a live report from our colleague, Geoff Cutmore in frankfurt in just about ten minutes. First, andrew has some of the morningss top stories. Good morning. Thanks for that. A number of stories out about the Retail Industry this morning. Some of the nations largest stores will be reporting december comps today. Also, costco, one of the first out of the gate. The warehouse chain posting a better than expected 3 increase in december comp. The retailer was helped in part by online sales. Macys cutting 2,500 jobs as part of a reorganization. The Company Plans to close five stores, but open eight others. Macys says the move will save 800 million per year. The company reporting a profit above wall streets consensus. Take a share that i a look of shares of zs today. The specialty retailer cited quarterly outlook. Shar
Overall. Let me read to you from the minutes to a majority of participants judge that the participants he was declining even though purchases to continued. What were they worried about in terms of costbenefit analysis . The minutes go on to say participants were most concerned about the marginal cost of additional asset purchases arising from risks to financial stability. Financial stability. In the end, they decided to by 10he tapering million per month. There was a healthy discussion about whether Economic Conditions were sufficient enough. Let me read you more from the minutes other participants preferred a larger reduction. Future reductions they would like to see a more deterministic path of the taper going forward. More guidance to the market as to exactly what the pace would be and when the entire thing would be wrapped up. We did not get that at the end of the day. There were other discussions in here about the Forward Guidance language. There was some discussion lowering that
160 points at the low of the session, and that was within the last hour or so. The s p down 16 and the nasdaq down 46 there. A lot of people watching the tenyear treasury yield as well, looking to that as they have for weeks now. Right. Kind of a broader reflected gauge of where we stand in the economy, where is this all headed and to what extent, if you look at the performance of these markets since the Federal Reserve meeting over the last eight sessions or so, thats really where youve seen the rotation from growth into value. How much does it have to do with the tapering and tightening if you want to call it that. A day that when they sell the stocks they buy the bonds because the yields on the long end of the curve have been come down today. Let talk about it and get to our closing bell exchange. Quincy crosby and anthony chan from chase, Michael Guyette from Pension Partners and winner, by the way, of the 2014 dell aware and samir samano and jim lacamp from ubs and Gordon Charlott
By the state not once, but twice. The main backer of the windmills . A Chinese Company. For more on this the washington examiners tim carney. Tim, welcome to the show. Thanks for having me. Gerri good to have you here. Why is the d. O. E. Wanting to give out money for a project that new jersey doesnt even want . Well, the department of energy is very hard trying to push wind. Wind is lagging behind solar. Solar is getting advances where it is becoming more affordable. That is not happening nearly as much as wind. Still doesnt make sense to do it as opposed to fossil fuels. The department of energy is really trying to jumpstart some of these projects. The local town opposed it, the authorities because they saw the way the Chinese Company did their accounting was stable. It was not standard american accounting. They didnt know if this was another Green Energy Company that was going to fail. And the department of energy has a long history of supporting such failures. So maybe they dont ha