If you think back february 1st, 2006, then president bush talked about america being addicted to oil. We talked about the possibilities for energy independence. 2013, we now export more than we import. Why . Its all about u. S. Shale production. Its about fracking, it is about something that is never going to reverse itself and change, scott. Theres a tremendous amount of domestic oil here. Nonopec production is really not in compliance right now. Were not surprised by this at all. And it was telegraphed at the beginning of the year in the Energy Equity markets. Does it bleed through and impact equities, themselves . Yes, it does, if you get below 40. But i think in the 40s, were okay. Boy, steve, we were just talking not that long ago, wondering if it was go maybe to 60. The head of saudi aramco over in houston with Brian Sullivan this week saying that the worst was over. I asked you yesterday, pointblank, if oil does drop below 50, do we have a problem for stocks. Now that it has, wh
Leave it. President says hes done negotiating on health care. That crucial vote now set for later today. Keystone green light, the president set to officially reverse one of the obama signature Environmental Policies this morning. And then markets on track for their worst week since november, wall streets keeping close watch on d. C. And any progress for the trump agenda. President s pushing hard for House Republicans to pass Health Reform today. In the past hour he wrote after seven horrible years of obamacare, skyrocketing premiums and deductibles, bad health care, this is finally your chance for a great plan. A lot of people wondering if they move to taxes is that like the market saying lets have dessert first, jim . Well, look, i expect there could be a quick leg down if he doesnt win. Theres always this weird kind of, well, you know what, legislation momentum, trump loses and its over. No, history says its not over. So i think that the faster they get no matter what tax reform fai
The latest on all this. Reporter hey, carl. If a few hours ago, it was the calm before the storm, it now feels like the storm is approaching with members of the house scurrying back and forth, a flurry of activity as people are taking meetings and going back and forth from the floor as we build up to that vote this afternoon. Of course, this comes in the wake of what you mentioned, that ultimatum coming from the white house delivered by budget director mick mulvaney, although this morning on squawk box, he did now say its up to republicans to reach a consensus among their own party. Heres what he said. As to whether or not negotiations are ceased, i think we made it very clear last night that if the republicans need to work amongst themselves on the hill in order to tweak the bill a little bit here or there, in order to get the necessary votes to pass, thats fine with the president , as long as it doesnt change the underlying bill, and i doubt that it would at this point. Reporter ther
Im sara eisen. Im wilfred frost. Good morning to you from me as well. Lets check in on the markets. After another record close for u. S. Stocks, the trump rally has momentum and is strong again. We have a lot of Economic Data to work through today. Ahead of the thanksgiving day holiday where stocks are closed. For now strength in dow futures up 5. S p futures are flash. Nasdaq futures up 3 1 2. The dow with an alltime high yesterday, crossing above the 19,000 mark and closing above it for the first time in history. The s p 500 seeing record intraday and closing highs for its part that index ticking above the 2,200 key technical mark for the first time ever. And u. S. Treasury yields took a pause yesterday, but stayed near high levels. 2. 3. Real movement in the short end of the curve, the twoyear yield reaching lie levels. And were seeing the opposite interestingly in europe. Yes, twoyear yield hitting a high level since april of 2010. Here in the u. S. Exactly. We saw the shorter end
Were back. Back together. It literally feels like months. It has been. What Great Stories to cover. Absolutely. Well show you what theyre doing this morning. U. S. Futures under pressure after a selloff yesterday that sent the dow down a little less than 1 . Dow futures down. S p down 7. 6. Nasdaq down 22, but all the action has been in Government Bonds. A massive rush in into this safe haven treasury debt. Look at that 10year treasury note yield. We are in record territory. I think japans longterm bond went to zero this morning. It is unbelievable. Record bond buying across the board particularly out of uk. That out of fear, not confidence. I wonder when we get a moment that we think this is crazy. Every time you think that, it continues. Its the trade everybody has been wrong about. The reason we dont see it sell off is were not seeing inflation. I wonder if the uk will be the first one, not immediately, but with what youre seeing in the pound, do we see inflation pick up and if you