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money. asian stocks are lower, but euro is at a nine-year low against the dollar. investors expect the central bank to start bond buying measures. the second trading day of the year. not much movement in stocks. investors are expecting smaller gains this year. oil prices still trying to find a price floor. crude oil with a new low at $52 a barrel. the price has been slashed in half since the summer. gas prices have been slashed too. the average price is $2.20. the lowest since 2009. if you are in new jersey you can find it lower than that. happening this morning. an investigation into what caused a deadly plane crash that killed everyone on board, except for a brave 7-year-old girl. how she made it to safety ahead.
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dow closed up 63 points. we had strong retail sales numbers. sliding oil is weighing on stocks. oil fell below $60 a barrel for the first time since july 2009. oil s plunge means cheap gas for consumers it is a problem for oil producing countries that depend on oil for revenue. oil has not found a price floor. we could see prices dip below to $50. very good for consumers. putting money in your pockets. it is disrupting the stock market. west coast under water. neighborhoods flooded as rains and snow slam communities. it is not over. we are tracking the storms for you this morning. plus, see says bill cosby drugged me. a pioneering model and actress comes forward with her story next.
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costing jobs. peter, you actually say in the article that the question is not whether the minimum wage is going to be raised or not, the question is finding that sweet spot. talk about it. so i looked at it from both the economic point of view and the kind of morality social justice point of view and you get distinct answers. on economics, the wisdom you find it in econ 101 is if you put a price floor that is above the equilibrium you get management. the study in 1994 involving fad food employees in pennsylvania and new jersey, ever since then that seemingly obvious statement is slowly undermined. no question that a high enough minimum wage destroys jobs but in the kind of range that we
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