Im ali velshi. And this is real money. Oil prices are now solidly below 70 a barrel and many analysts say they have more room to fall. That has americans celebrating as prices at the pump continue to fall, but not everyone is in a celebrating mood. Ill explain. But first, u. S. Oil futures settled at 69 a bashl. Prices seesawed between 63 and 74 a barrel. Prices have fallen 36 since peaking in june, and since crude oil is the main component for gasoline, prices at the pump have come down 29 in roughly the same time. The big reason that oil prices appear to be in free fall is because of a decision by opec producers last week not to put oil out put. Normally when demand lags, the leading Oil Producers get together and try to agree on supply cuts. But these arent normal times. Americas energy boom is creating more supply right when economies in europe and asia are starting to pull back on their demand for oil. Saudi arabia is viewed as the worlds sing producer. It has the ability to flood
Investors looking to build off the markets first win for the new year. If you still want more mark lazry says energy debt could return 30 . Mixed bag for two retailers. Family dollar missed numbers, costco ahead of numbers. Outside of business, a live update on that manhunt in paris. Futures are up sharply as stocks aim for a second day of gains after the s p snapped a fiveday losing skid wednesday. Oil prices on the rise. All ahead of tomorrows big jobs number. Jobless claims did fall last week to 294,000. Jim, its more about costco today and chipotle at 700. Urban comps going positive. Raw costs coming down. At the same time more traffic, more larger ticket prices. People are spending again and i think thats the theme. I think there is way too much being talked about expenditures in oil patch are coming down. That icons traited in texas, louisiana and north dakota. Sunflower oil used to be the big oil in that state. Lets not lose sight of the fact disposable income 1,000 more in ever
Data as adp delivers that strong employment number ahead of tomorrows jobs number. Youll hear from buffet this hour, as well. Bank stocks moving in the premarket. Upgrades, downgrades and Brian Moynihan assumes new duties at bank of america. Showdown approaching in hong kong. Protesters demanding a resignation. Police demanding an end to the demonstration. Elan teases the new d as netflix teases new adam sandler movies. Ecb standing pat on Interest Rates. Mario draghi says bond purchasing programs will last two years. Details to be provided later this morning. Here in the u. S. , claims fell 8,000 to 287,000. That is ahead of tomorrows big jobs number. One day after the dow fell 238 points. Last night on mad money you broke it down on stocks that, why some groups will fall more. Then what names you are waiting to nibble on when the time is right. I think a lot of this down turn started when ford motors said latin america, not good. Europe, not good. Then you see this morning just now,
Nasdaq down by about 20. Lets get to the other story of the morning. Charter communications buying Time Warner Cable for 195 in share in cash and stock. That deal is about 55 billion. They rejected charter last year instead going for the comcast transaction. Todays news comes after months of speculation and after contrast dropped its 45. 2 billion merger agreement over antitrust concerns. That transaction was blocked but time warner looking like theyll get the better deal in all of this. We all looked at the comcast deal and said are you crazy youre going to get nothing when this is all over. 2 billion break up fee. But more than that you get a much higher price and a much greater likelihood that this deal will go through although rich greenfield had a very interesting comment this morning, i dont know if you saw it which suggested that while everybody thinks this will go through if people know im going to get it to airlines joe so watch out, if the government was wary they allowed the
Citing that as part of the boost. Some of the blue chip peers not getting the same love. Well get to all of it in the premarket. That strong dollar is cutting into pepsicos bottom line. Well speak to the company ceo hugh johnson in a couple of minutes. Facebook has more monthly users than the entire population of china. The mobile ad revenue impressing some on the street. Despite that revenue miss, where will the stock open today . Procter and gamble quarterly profit in line but sales fell for a fifth straight quarter. Currency effects weighing on 3m. Caterpillar beating the street. We saw construction in the u. S. And north america up. Thats the bright spot we have. Its fairly anemic but its growing. Its Getting Better quarter by quarter. We see that. We are happy with that. Everywhere else in the world we are doubledigit decreases in sales year over year regionally. Weve seen a real dichotomy here in the world. They are upping Sales Guidance upping Earnings Guidance as some of these