Highest level since december but with the fed meeting in the days ahead can stocks continue to win . That debate begins now. Josh what happened between yesterday and today . Today the s p at the highest closing level of the year. What happened is nothing happened. In the absence of a calamity people come back to stocks and what theyre coming back to scott makes this bounce back the most interesting. Its the polar opposite of 2015. The most heavily shorted stocks and the stocks to decline by the most or underperformed by the most last year and the sectors that are negative year to date. Health care, technology, consumer discretionary. People say its a dash for trash. Is it more believable today given the last 24 hours. How do you assess where we are . It always takes a couple of days to assess what they do. What they did was a little bit better and more than what most people expected. Commentary confused some people but more importantly oil has stabilize. Interest rates have stabilize.
A barrel at west texas intermediate dipped below 50. So how will this dramatic collapse in energy costs impact the economy and consumers . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now such a huge oil producer wouldnt it be a drag on the economy or a benefit . This is key to the first, what will consumers do with the wind fall . Save spend, or pay down debt . Disappointing retail sales in december suggest consumers parting only reluctantly with the extra petro dollars in their pocket. People are waiting to see if this is real and take a while before adjusting their spending pattern. Reporter to be sure the case is not closed. Consumer spending was strong in october and november leaving some economists to forecast that Fourth Quarter growth will sport the best Consumer Spending number since the Great Recession ended. The december data may yet be revised and just because consumers took a break doesnt mean that the oi
Economy. The big driver for todays selloff is retail sales despite deep discounts, lower gas prices and a robust labor market. Combined with more volatility and oil prices and a lower forecast for Global Economic growth sent stocks on another wild ride. The dow cut an early 350 point loss in half ending the session down 186 points. The nasdaq lower by 22 and the s p was down 11 points. In the bond market the yield on 30 year treasuries hit record lows while the yield on the benchmark ten year note hit the lowest level in nearly two years. Crude bounced between losses and gains spiking higher into the close, up 5. 5 to 48. 48 a barrel, its biggest one day percent gain since june of 2012. With gas prices down and retail sales falling, what is the state of the u. S. Consumer right now . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now a huge Oil Producers, wouldnt it be a drag on the economy or a benefit . Second, and th
Economy. The big driver for todays selloff is retail sales despite deep discounts, lower gas prices and a robust labor market. Combined with more volatility and oil prices and a lower forecast for Global Economic growth sent stocks on another wild ride. The dow cut an early 350 point loss in half ending the session down 186 points. The nasdaq lower by 22 and the s p was down 11 points. In the bond market the yield on 30 year treasuries hit record lows while the yield on the benchmark ten year note hit the lowest level in nearly two years. Crude bounced between losses and gains spiking higher into the close, up 5. 5 to 48. 48 a barrel, its biggest one day percent gain since june of 2012. With gas prices down and retail sales falling, what is the state of the u. S. Consumer right now . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now a huge Oil Producers, wouldnt it be a drag on the economy or a benefit . Second, and th
A barrel at west texas intermediate dipped below 50. So how will this dramatic collapse in energy costs impact the economy and consumers . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now such a huge oil producer wouldnt it be a drag on the economy or a benefit . This is key to the first, what will consumers do with the wind fall . Save spend, or pay down debt . Disappointing retail sales in december suggest consumers parting only reluctantly with the extra petro dollars in their pocket. People are waiting to see if this is real and take a while before adjusting their spending pattern. Reporter to be sure the case is not closed. Consumer spending was strong in october and november leaving some economists to forecast that Fourth Quarter growth will sport the best Consumer Spending number since the Great Recession ended. The december data may yet be revised and just because consumers took a break doesnt mean that the oi