I am alix steel. We are one day closer to the weekend. It is time for the news feed. Another sign the legal market is getting stronger firsttime claims for Unemployment Benefits hit and eightyear low and the number of people receiving jobless benefits fell last week. A clash of the tech titans over books. Google is teaming up with barnes noble to take on amazon shoppers will be able to get sameday delivery of books ordered through barnes noble delivered by google shopping express. Mexico has approved final roles in the opening of the industry final rules in the opening of the oil industry which will open up for companies such as exxon mobil and royal dutch shell. By all accounts, the bank of america Ceo Brian Moynihan just lost a battle with the u. S. Government on how much will cost to settle claims on toxic mortgage bonds. Bfar a tentative agreement, would pay at least 16 billion. Bill cohan is our contributing editor with us from skype to talk about eric holders latest victory over
The feds give the okay to powdered alcohol. That is interesting. Stocks are up. Gas is down. Varney company is about to begin. Stuart this is called a rally. Down sharply in the early part of the week. Now, it is up. Look at this. Leading the way. They are sharply higher. Let me get to gas. Down again. Gas has gone down for four straight days. We will take that as a winning streak. Breaking news overnight. To ferguson cops shot at a protest outside of a police station. Serious injuries. Shots ring out from a distance. Police are calling the incident and ambush. It was really an ambush is what it is. You understand that it will happen. You are basically defenseless. That is something that is very difficult to guard against when you have a group of officers standing in a large group. Stuart boat diesel is here with us this morning. Is there a similarity between what happened in new york city and what happened last night in ferguson . The attorney general makes an atmosphere. He indicts a
Eventuality of striking an agreement to reach this bridge agreement that will lead us to a new, shall i say, social contract with our European Partners within six months. A contract for growth, social cohesion and forgetting greece out of the crisis. He wants to ease the terms of the bailout deal. According to officials germany will not insist they greece live up to all the terms. German gdp rose 0. 7 more than twice as forecast. The French Economy slowed down. Italy stagnated after two quarters of contraction. The news about the German Economy sent the dax to a record. It broke through 11,000 for the first time before pulling back. Equities are at a record in the u. S. The nasdaq composite is close to a 15 year high. Here we go again. Rollsroyces profits fell 8 . President obama hosting that conference on Cyber Security. He wants companies to share information. For Big Companies declined the invitation. They are mia, but they are sending representatives. Peter, what is up with this va
Two if by sea. Jane wells covering the problems out at the ports. She is live between the ports of l. A. And long beach, and, diana olich is on the land. Surf and turf here. Shes on the land in washington. Interest rates rising. Home Sales Numbers not. Diana, youre first. Well tyler, look spring housing is not getting off to the best start. Higher Interest Rates in a pitful supply of homes for sale are squeezing potential buyers. Now, Weekly Mortgage applications showed just how sensitive todays buyers are. Rates rose to their highest levels since early january. 30year fixed at 3. 93 . Its still under 4 . Even at that historically low level, applications to purchase a home dropped 7 for the week. They are barely 1 higher than one year ago. Rates moved even higher where heed. Does that mean real cash money . Well a borrower taking out a 200,000 mortgage today would have to pay just 42 more a month than they would have if they had bought on january 1st. Now, that might seem like chump ch
Stanleys adam parker. He will tell us what hes expecting from earnings whether they can spark a selloff in stocks, talk about the words earnings recession have been discussed in conjunction with the First Quarter earnings reports due to come out. And where is howard marks putting his money to work . You will find out in an exclusive interview. Plus Bill Richardson former new mexico governor gives us his reaction to rand paul running for president and what he thinks of the senators plans if he became president he would get rid of the Energy Department and three other cabinet positions if he were to become president of the United States. Well get governor richardsons take on that coming up. You can guess what he would say. We have a lot to get to. Lets start with where we stand. 74 points higher on the dow. The s p 500 up by about 5 points to 2,085. The dow is the outperformer on the session. The nasdaq adding 16 to 4,933. Lets get to our closing bell exchange. Amy wu is back with us so