As no fewer than eight states along the eastern seaboard declare various states above emergency. Air travelers, its a mess, theyre feeling the brunt of this bomb cyclone. On the screen is a picture of ohare, chicago. Fight aware is reporting 3800 cancellations have been called across the nation and additional 1500 flights delayed. Flights at this hour suspended at new Yorks Laguardia airport and the jfk. Newark, new jersey is on a limited takeoff basis. You are not storm also playing havoc with the Nations Energy centers, with snowfall and excessively high winds knocking out power to tens of thousands of people. More expected to get hit by darkness. Power companies are warning of the possibility of fuel shortages because of polar temperatures arriving with the winter blast. Its a transportation issue. Transporting the oil. Lot of problems with the roadways. Team fox business on the ground with every single part of this story. Now to wall street, the dow cracked yet another major milest
Numbers, plus his thoughts on the minimum wage. Well see how those new oreo donuts are selling. Fbi cracking down on chinese corporate espionage. The economic bellwethers, caterpillar, 3m moving lower on the back of earnings. Caterpillar ceo was on squawk box earlier and spoke to the global head winds holding back not only the economy but his own business. For us to drive sales and drive employment we need 2. 5 to 3 . Having said that we are doing an awful lot of things internally to make sure we are strong strengthening our company for the future. Its all those things. Weve got oil price cut in half. Commodities are at their lowest for quite a few years. Global growth is slow. All those things combine for a lot of winds buffeting around right now in front of us. Joining us for reaction and how it impacts company our team. Doug isnt the only one warning about the Global Economy and actually showing the results from weakness in china, in brazil, russia and in india. Clearly, this is sha
Decision to is suspend brady be upheld. The judge recommended two sides settle dispute out of court. Game of thrones will likely continue for three more seasons. Hbo executives planned to run eight seasons. The smash hit had 20 Million Viewers last season and received an astounding 24 emmy nominations. Lets get to the top story, exxon and chevron both releasing their Second Quarter. Here is how tough it has been on the big firms. Exxon expected to report a net income of 1. 12 a share. In the same quarter last year they reported earnings of 2. 05 because of cut in price of oil. 150,000 energy jobs have been cut since the fall according to phil nine, price futures group. He joins me from the cme. This week we had more layoffs and it continues phil. Where are we in the cycle of the downturn . I think it is almost a panic with big Energy Companies. Really, maria, a lot of these layoffs will be accelerated because of what happened in the month of july. Early july there was a little bit of o
Good evening, sue. Good evening, bill. Im sue herera. Welcome, everybody. Records were set on wall street today. The dow, the s p 500 and the nasdaq all closed at levels theyve never closed at before. The investor came on the eve, as bill mentioned, of the employment report for may. Lets get to the numbers on this first trading day of june. The Dow Jones Industrials Dow Jones Industrials advanced to 21,144. The nasdaq gained 48. And the s p 500 rose 18. And wall streets enthusiasm was due in part to the latest reports on the labor market. Private businesses added more than 250,000 jobs last month. That was well ahead of estimates. And Payroll Processor adp said the hiring primarily came with companies with fewer than 500 employees. It accounted for threequarters of the jobs that were added in may. And tomorrow, of course, the governments Monthly Employment report will be released. Expectations for nonforeign payrolls to be increased by 184,000 and for the Unemployment Rate to remain st