Hello, im sally bundock. It all sounds a bit fishy, we will get to that a little later stop. Lets get down to business, and we begin with the rising price of oil which is pushing up the cost of living globally. With tensions on the Ukraine Russia border not easing, markets are betting demand for oil could go up, and, recently, we saw the price of the black stuff hitting its highest level for 7 years, and this impacts everything from fuel to food bills. Today, the members of the Oil Cartel Opec and other oil producers, will meet. So will they change their Decision Making on Oil Production . And what pressure are they under as well. As you can see from this graph, though, oil has been on a steep upward trajectory over the past year with some analysts now predicting it wont be long before it hits 100 a barrel. Well, there are three main reasons. Firstly, theres now growing optimism about the speed at which the Global Economic will recover from the coronavirus pandemic. Secondly, geopoliti
Im Katie Greifeld in new york. Take a look at markets this morning. Near alltime highs, but a little over today if you take a look at the s p 500, slightly in the red, down by about 0. 2 . Of course still above 5100. Look at the nasdaq 100. Losses getting a little more serious, down about 0. 8 . That follows a big update yesterday. You can see volatility rising a little bit. The vix still below 14, but inching higher and higher. Lets get to what is happening this hour. That is the house voting on a bill that would force chinese tiktok parent bytedance to sell it or face a ban in the usa. The company is planning a full legal fight if the bill becomes law. Junkie double o streams me from washington. Jackie double os davalos joins me from washington. Jackie as you know, the house or the senate have not found Common Ground to agree on almost anything except this bill. It is a bipartisan effort that was brought forth by the House Republican chair of the select committee on china, Mike Galla
Also, check in with the House Speaker and House Judiciary Committee chairmany. Jim jordan will be here with a lot more. Also, well get reaction from clay travis and tomi lahren on the us womens soccer team, which just suffered a humiliating loss at the world cup. S whoof course, after prioritig their far left while politics over playing soccer. And tonight, we will get reaction from the aicup. R ofm Anheuser Busch to the entire Dylan Mulvaney controversy. B how would the founders of anheuserbusch feel . But first, lets head to the white house, where earlier today the president was celebrating anotheontroverdar t, the 2022 world series champion houston astros. Thats right. After ten days at the beach where he could barely move his chair and really needed a t shirt on. Bidens only real event today back at the white house was a lighthearted celebration. And even that was a struggle for your 80 year old cognitivefr visually impaired commander in chief. Take a look now, rizal here. Very. I
You believe that an anecdote on twitter about a cookie that cost 18, is that reflective of our economy and where were at or not . I certainly hope not. I dont do much shopping these days, but that sounds like a pretty expensive cookie. Yeah. And, now, i believe that the American Economy now is the envy of the world after everything right now, correct . We are yes, were performing very well compared to our peer group. Pretty great. And is it fair to say that the stock markets are all up at record highs, right . Pretty close. Yeah. And inflation has been pretty effectively addressed, right . Sharply since the middle of last year. We have a ways to go on that, but weve made a lot of progress. And corporate profits are pretty robust, is that fair . I believe it is. Okay. Well, we can agree that and i dont understand why more people seem to be talking about a cookie that costs 18 but it seems to be against the evidence as well, but given that now, since things are pretty great and were in a
Pun unfortunately intended. Yes. And bitcoins record and retreat. Targets big pop, and generative a. I. To the insurance business. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, dan nathan, guy adami, and julie beal. Apple dropping 2. 8 today. They are down 14 from the record high hitless less than months ago. They have lost 450 billion in market cap. The latest catalyst weighing in on the stock, a report that found iphone sales in china plunged 24 in the first six weeks of the year. Market share in the companys thirdbiggest market also falling. And apples weakness today did seem to filter into the broader market. The nasdaq closing just above the 16,000 mark. The s p and dow also down more than a percent. So, was this is the break in the market euphoria that some of the desk had been waiting for, before you answer that, i want to point out that nvidia and supermicro finished higher today. Positive. Extraordinary. So, whats the deal her