Rate for a considerable time after the purchase program. The Federal Reserve comments sent us stocks soaring. The s p 500 rows for the most since october of last year. President obamas decision to restore diplomatic relations with cuba after 50plus years of tension. Heres the president on the attentional benefits. I believe american businesses should not be put at a disadvantage, and the increase in commerce is good for americans. We will facilitate transactions between the United States and cuba. Officials will be able to open accounts at cuban financial institutions. The u. S. Will also ease its cuban ban and open an embassy in havana. Oracle is making progress in its shift to cloud computing. Overall revenue was up 4 to 9. 5 billion. Oracle posted a slightly smaller profit. The Second Quarter saw major transitions, with the cheek executive leaving to become chairman. The trusts of twitter chief executive now own zero shares of twitter stock. The trust sold off their final holdings,
Stephanies photo bombing. Lets start with the bulletin. The top business stories of this tuesday morning. Morgan stanley posted fourthquarter earnings that missed estimates. A drop in revenue from fixed income trading. They take in about half as much from bond trading as it did in 2006. Delta is flying high on lower fuel costs and rising demand. The Airline Posted better than expected earnings for the Fourth Quarter. Oil prices fell 40 during that. The gains will be limited because of expensive youll hedging contracts. The International Monetary fund has made the biggest cut to its growth outlet outlook. The World Economy will grow 3. 5 this year. That is down from a 3. 8 prediction. Many economies and many emerging markets are revising their prospects now. They are decreasing investment today. We think this is stronger than the price of oil. The exception is the United States. The fund upgraded the forecast for u. S. Growth to 3. 6 . Box office flops may lead to 350 jobs cuts at dream
1. 97. Our road map begins with a rally in the markets. Coming off a volatile day. Futures in the green. Adp numbers higher than expected as well. Jcpenney is feeling the holiday cheer. The stock is up nearly 20 in the premarket. Bill ackman is still unimpressed. The shooting at a paris office of a satirical magazine has left 12 dead. Well continue to bring you developments on that. First up, futures up sharply as the s p and nasdaq look to snap fiveday losing st the s p is in the midst of its second worst threeday losing streak to start the year since at least 1950. Oil prices also higher after brent fell below 50 for the first time. Ahead of the friday jobs number, adp 241. Not bad as theyve realized december higher. I dont know. Blankfein on squawk today. I thought the adp was interesting. Looks like the firings in the oil patch are either not impacting or theyre just not as great as we thought. I also felt that when i looked at the difficulterent earnings we got, we got some good o
Market. For once the market reacted positively, not negatively to objectively good news and tempered its excessive negativity which is how the dow managed to rally 213 points and s p climb 1. 16 and nasdaq jump 2 . What do i mean by rational reactions to actual positives . How about concrete tips . I have argued that what is freaking people out and making them panic out of all stocks is not the downward direction of oil but the velocity of the move. I think oil can keep going lower because there is too much produced. When oil pauses in decline as it did today we see investors come out from the sidelines and rationally buy the stocks of companies that benefit from Lower Energy Costs including the consumer Package Goods names, the retailers and restaurants. Im going to give you a list that you love later in the show. For years the price of oil had been held up not by demand but by a cartel. Opec. When a cartel is busted up thats good for all consumers, even as it is naturally terrible fo
Stronger dollar and slowing Economic Growth overseas. Foreign ministers are said to meet in germany for a fourway summit on russia and peace talks aimed at ending military talks Angela Merkel is warning a lack of progress from russia. And the ruble dropping today. Well show you now. And millions of french citizens taking part in an historic march this weekend to pay tribute to victims of islamist militant attacks. A line of World Leaders lead the way. Arms link. Among them israeli Prime Minister and the palestinian president all together. No high ranking u. S. Officials took part. That lead to a lot of criticism. Well have a live report from paris. You saw here covered on the daily news this morning. Sunday more than 40 leaders watched none of the men showed up. The news said you let the world down. So there it is. Some people say eric holder, by the way, was in paris and didnt go to this. I dont know what that says about i dont know. I saw some stuff on some of the websites that said