changing their oil forecast from december. on average economists see the oil ending the year around $95 a barrel. even if the tension in the middle east doesn t get resolved quickly we could get more clarity as time passes. oil prices hovering around $105 a barrel. the prices are talked of talk of opec boosting output and libya leader gadhafi maybe strike ago deal to step down. wall street focusing on oil and not many major economic reports out right now. a mixed open and dow up 23. nasdaq off slightly. urban outfitters shares are tumbling. 12% on earnings. its fourth quarter margins hit hard by more markdowns and shows by discounting doesn t mean the sales are going to rise. alison, thanks so much. we will check back in with you. it is half past of the hour. time to check the headlines that we re watching. the red carpet is rolled out in
not satisfied. we did find out she had chinese food for christmas. that is important. did rolling stone article on general mcchrystal change the game? that is next in the poe lit tow playbook. the final four cities in the running to host the dnc convention. the men who loved the u.s. soccer people, coach bob bradley will be here, but, first, bill karins with a check on the forecast. good morning, everyone. hurricane alex made landfall last night and intesive intensified before it slammed into mexico as a strong category 2 storm. thankfully the storm made landfall in a relatively unpopulated area and barely brushed southern texas with strong winds. the real problem is the rain the next couple of days. also the oil forecast. cleanup still doesn t look good. we still have six-foot waves where the leak is occurring. the skimmer boats probably kept in harbor again today. sea should come down tomorrow where everything can hopefully return to what at least they
now. if it gets cut in the loop current it could empty out through the florida keys. officials in the keys are bracing for the potential spill impact and preparing to protect the prime tourist territory there. the calm ocean waters expected to keep the oil slick at sea for next couple of days but it is already lapping up against the shore and threatening marine life and wildlife. the oil forecast has it at the mouth of the mississippi river and inching ever closer. the massive slick grazing the shore of the barrier islands. cleanup efforts are underway, even before the oil arrives. rob marciano is live in gulfport, mississippi. how much longer are weather conditions expected to remain favorable? several days thankfully, but you have current in the gulf and mississippi river dumping into the gulf complicating matters even more. what we saw was the oil did infiltrate the chandelier