If you only look at two of them you may miss the relationship action underneath. I dont talk much about commodities in the show because most of you dont trade them and i dont want to encourage you to do so. Theyre 24 hour, 24 7 worldwide business. Too hard for people at home. But if you want to figure out why we had huge disparities in the stock market today with industrials and oils driving, basically cancelling each other out. Hence the markets flat line then you dont need to look any further than the prices of copper and oil. Right now the market is in the grips of a classic slow down in china and its Ripple Effect on the rest of the world. Thats the Ripple Effect. China itself issues numbers. We focus on the raw commodities because the chinese economy involves taking those and turning them into something. Hundreds of millions of people from the world based citizenship. And at the looks of copper and we monitor that by looking at something called the jjc, a copper based etf, china i
Lets get back to one of our top stories this morning. Kurdish forces battle sunni militants. Iraqs military situation is deteriorating. Phil mattingly joins us now. How important is a resolution in baghdad to the fight against the Islamic States and the militants . Officialshat u. S. Continue to point to as the only longterm solution. Last night, it looks to have taken a major step back in terms of political resolution. Malakitioned that the president sue for trying to extend and not malaki to be named Prime Minister. Be aware ofgoing to adding more support. It is something president obama highlighted. We can conduct airstrikes, but there will not be an American Military solution to this problem. There will have to be an iraqi solution that america and other allies of support. That cannot happen until you have a legitimate iraqi government. Officials have been clear, behindthescenes, that they would like to see maliki step aside. That has come to the forefront. One of the top state off
This stock market. Cant do it alone with the economy. We saw it this morning. In the glorious takeover hallelujah of Kinder Morgan by rich kinder himself and the s p is gaping 2. 8 and the nasdaq is jumping. There were many reasons for it to occur. First and foremost, rich kinder loves it when shareholders make money. And he alluded to that front and center this morning when i spoke to him on squawk on the street. But the main reason is that Kinder Morgan was having trouble growing because the cumbersome structure, the parent company, didnt let the business expand as quickly as it should. Even of course some great opportunities in oil and gas. The new streamline entity Kinder Morgan, inc. , which should be owned for the 2 dividend will give you a great play to play the north American Energy revolution renaissance. Kinder morgan will be the Third Largest energy company, better groat in dividend boost prospects than any other company not just in the oil patch but in the s p 500. Rich kin
It for amazon. Its wednesday, january 30, 2013. And squawk box begins right now. Good morning, everybody. Welcome to squawsquawk box he cnbc. Today we have the four bs ben bernanke and the fomc holding their first meeting of 2013. Investors watching carefully for any change in strategy to boost the economy. Blackberry 10, research in motion is unveiling its latest and greatest device in hopes of saving the battered company. Boeing, the dow component releasing Quarterly Results around 7 30 a. M. Eastern time. We will have instant reaction and more on the dreamliner battery drama. And last but not least, the bulls going on another run. The dow jumping another 72 points to close just 46 points away from 14,000, just 210 points away from its alltime closing high. We have a big lineup covering the rally, the fed, and the economy this morning. Ed keon of Quantitative Management Associates and dan greenhouse of btig will be serving up the markets for us. Fed watchers will join us at 7 40 a. M
Stocks, a great way to get some return on their money. Boeing approving a Share Buyback repurchase program showing confidence in the Company Coupled with a dividend raise of nearly 50 , so that is a big deal as well. They really are indeed bucking the trend area did back to you. Lori check the calendar. One week left until christmas. Turning to their smart phones. Discount luxury retailer is taking the world by storm with mobile with mmre than 40 of its revenue generated solely by mobile sales. Joining us, michelle, good to see you again. Congratulations i really strong holiday so far. Thanksgiving sales driving revenue more than last year. Black friday up 60 in revenue over last year. The big trend you are seeing is mobile. A lot of steps pointed to profitability hopefully very soon. We have crossed the threshold and are Profitable Company. We make sure we find something exciting and fresh for you every single day, we bring tremendous value so you look more generous than you actually