So, were not saying were going to see it this month, necessarily, but we are off to a down start for the month so far. Sure well get into that and market reaction. Plus, exclusive reaction to the selloff with pimcos bill gross. He has an eyeopening opinion of how investors should be playing this market. Hell tell us what keeps him up at night. The minimum wage is back in the news. We have a fast food worker walkout scheduled for tomorrow. The president was demanding an increase in the minimum wage. Today well talk to a major e c exective to a major food chain about what would happen if they were forced to pay all workers 15, which is essentially double what most fast food restaurants pay. What do you do . Cut jobs . Make burgers smaller . Sliders for everyone. With the dow off about 60 points, off the low of the session. It was down about twice as much at that point. The nasdaq only off about five points. The s p 500 off three. Interestingly enough, there have been some social media na
Forth by the president. What have you heard . It that is the discussion. You have harry reid, Mitch Mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of 400,000 or 500,000 or so, extend Unemployment Insurance, but, still, nothing has been agreed to. All in washington are waiting to see how this meeting goes. Its just about to start here in dc. Meanwhile, on capital hill, the fighting continues, and in some corners, a sense of pessimism. If we dont have a deal within the next 24 hours, the question is where do you buy a parachute . Well be going over the cliff because the closer we get to the end, the less likely it is you can compress an agreement into place that will have enough votes to pass. This is basically it. Th
Gerri weve got a big show for you tonight, starting with the war going on in your living room. Netflix is fighting the Cable Companies over streaming video speeds. Consumers already suffering with slower downloads and youre about to get hit again in the form of higher cable bills. Joining me now, glen duren from consumer reports. Thanks for coming on the show. We just heard in the last hour on our network some people in washington are saying this isnt a big deal with consumers. Theyre not getting throttled on spee downloading like house of cards from netflix. What are you hearing . We heard probably what you heard, there obviously have been a lost complaints. A lot of them surfaced especially this past weekend when house of cards launched and netflix takes up an enormous amount of internet traffic. So netflix has been saying that basically theres a lot of congestion and that there is potentially even throttling going on by the isps, the Internet Service providers. Hard to know what is
Package rounding up spending. It helps the countrys Railway Stocks steam ahead. Imf Christine Legarde urging policy easing. And stronger data helps appreciating stocks to the longest rally in three months. The dow flirting with a new high. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. And welcome to todays program. We are just over an hour into trading during the european session at the moment. You can see on the stoxx europe 600 currently, advancers being outpaced by decliners by around about 5 4 at the moment. Lets show you where we stand. We hit the session lows just a short while ago. Yesterday, the ftse 100 was up just six points. Right now, its fairley flat. We have Services Data coming out of the uk. We had the latest composite services pmi ticked down 53. The flash is 54. That drives the composite on the dow 54. 3. We get the collective eurozone number in just a few minutes. Head of the ecb meeting later today. Under pressure to
Thats right. And only need a 21point gain for the s p to do the same thing. More points than that this hour yesterday. Well keep a close eye on markets here. Got to watch that nasdaq what art cashin was saying if he were standing here. That may tell you what direction were getting. A big couple hours. An hour from now the mega earnings parade continues with two heavyweights. Tonight we get twitter and ebay. A lot on the line for both of these companies. We have their results first with the best analysis including the instant reaction from twitters largest single individual shareholder. That should be very interesting coming up. And this story people are following. They are talking about it. Pretty extraordinary. Just in the last hour, an outraged nba commissioner handing down a lifetime ban to Los Angeles Clippers owner Donald Sterling for his racist comments made. They were caught on tape. Well speak to sprint ceo dan hessey who pulled out of the sponsorship deal with the clippers. Wi