Steve, whatever he does is a temporary bandaid. Right . The question is whether he can politically withstand this. He was a hooray year hero a year ago. The ruble has fallen 50 50 . Neil its only going to briefly cut it. It will help him a little bit. Heres the thing, even at 17 Interest Rates people arent buying russian bonds. Neil what is their big scare in the oil started it. It seems to have compounded it. Russia in the last 20 years has been an oil and gas economy. Not much else going on in russia, other than that. Look, were now almost 50 lower in price than we were early this summer. I mean, that just takes all the money out of the russian economy. Neil what happens to Vladimir Putin, who himself is a millionaire. But he is seeing that eevaporate as are a lot of his buddies. What is happening . Hes been popular. And the question is whether he can withstand this. I have skepticism as well. The worst is to come. These prices wont shoot back any time soon. Theyve been 55 or so toda
All that and more on nightly Business Report for monday, december 1. Good evening, glad you could join us. Susie gharib has this evening off. December is traditionally a strong month for the markets but there was no santa claus rally today no, siree. Oil prices went on a confounding ride, down and then up, and stocks seemed caught in oils spell. But that wasnt all. Stocks were also tripped up by weak Economic Data from china and signs retail sales here in the u. S. Werent so hot this past weekend. More on that in just a moment. But heres how the markets looked at the closing bell. The dow ending 51 points lower than fridays record close and the dow transports were sharply lower today, too, we should point out. The nasdaq lost 64 points and the s p was down 14. But once again, the big story today was the price of crude, which began the day by sinking below 64 a barrel to a fresh fiveyear low. But then midsession crude began surging higher. Finally gaining more than 4 . Its biggest oneda
All that and more on nightly Business Report for monday, december 1. Good evening, glad you could join us. Susie gharib has this evening off. December is traditionally a strong month for the markets but there was no santa claus rally today no, siree. Oil prices went on a confounding ride, down and then up, and stocks seemed caught in oils spell. But that wasnt all. Stocks were also tripped up by weak Economic Data from china and signs retail sales here in the u. S. Werent so hot this past weekend. More on that in just a moment. But heres how the markets looked at the closing bell. The dow ending 51 points lower than fridays record close and the dow transports were sharply lower today, too, we should point out. The nasdaq lost 64 points and the s p was down 14. But once again, the big story today was the price of crude, which began the day by sinking below 64 a barrel to a fresh fiveyear low. But then midsession crude began surging higher. Finally gaining more than 4 . Its biggest oneda
All that and more on nightly Business Report for monday, december 1. Good evening, glad you could join us. Susie gharib has this evening off. December is traditionally a strong month for the markets but there was no santa claus rally today no, siree. Oil prices went on a confounding ride, down and then up, and stocks seemed caught in oils spell. But that wasnt all. Stocks were also tripped up by weak Economic Data from china and signs retail sales here in the u. S. Werent so hot this past weekend. More on that in just a moment. But heres how the markets looked at the closing bell. The dow ending 51 points lower than fridays record close and the dow transports were sharply lower today, too, we should point out. The nasdaq lost 64 points and the s p was down 14. But once again, the big story today was the price of crude, which began the day by sinking below 64 a barrel to a fresh fiveyear low. But then midsession crude began surging higher. Finally gaining more than 4 . Its biggest oneda
All that and more on nightly Business Report for monday, december 1. Good evening, glad you could join us. Susie gharib has this evening off. December is traditionally a strong month for the markets but there was no santa claus rally today no, siree. Oil prices went on a confounding ride, down and then up, and stocks seemed caught in oils spell. But that wasnt all. Stocks were also tripped up by weak Economic Data from china and signs retail sales here in the u. S. Werent so hot this past weekend. More on that in just a moment. But heres how the markets looked at the closing bell. The dow ending 51 points lower than fridays record close and the dow transports were sharply lower today, too, we should point out. The nasdaq lost 64 points and the s p was down 14. But once again, the big story today was the price of crude, which began the day by sinking below 64 a barrel to a fresh fiveyear low. But then midsession crude began surging higher. Finally gaining more than 4 . Its biggest oneda