Look at crude, which has been dictating terms for equities lately. Relatively unchanged on wti, about 50. 18 per barrel. For brent, 51. 88, barely higher. Rbob gas edging up a bit. Well get back to the markets in a bit. Breaking overnight, the u. S. Military launching tomahawk cruise missiles against radar sites in yemen after incidents earlier in the week where a navy ship was fired on from a rebel controlled area. Now to this mornings top story, embattled wells fargo ceo john stumpf is out retiring Effective Immediately. Tim sloan taking over the top job following the highprofile scandal involving their sales practices. News came out after the market closed yesterday. Looks to be up about 1. 5 in extended hours. Notably above 46, a level we havent seen in some time. Helping. Helping. Yeah. Wilfred frost spoke with tim sloan late yesterday and asked him if stumpfs departure was a necessary condition for the company to move on. I think johns decision to retire is one that, you know, is
The unemployed. Two months to the elections economy is coming back into focus. Not good news for the president. Varney and company is about to begin. Stuart lets begin with an eye opening look at the obama economy. More numbers, this is a reuters survey. 34 of Unemployed People have stopped looking for work because the job market was so bad. 40 were no more optimistic about their job search today than when they initially stopped working. This is middle america. It is losing ground. Middle america getting shrink. Charles people who were pretty good contributors to the overall economy. The 20 plus week unemployment number will look at, that number has been over 3,000,004 longtime. These are people who had jobs, worked in at factory, an assembly line, huge money, huge income, they will eventually get back to the job market and work at a job where they make significantly less like most of these people, and i throw my hands out so what does this mean . Stuart does the economy come back into
Too, right . The advantage of being able to say, well, were different now. My company is not going to be focused on the cost cutting and its negative effects. What can you really say when someone says that . And the harder you sort of criticize her and pushback, the more people say, well, she wasnt in charge, anyway. So its a moving target for these congressional guys. Do you want to give her a grade . I think she did as well as could be expected. In terms of apologizing or i think what people wanted more i think they were expecting too much, frankly. Given all we heard was im not sure who its passed off on the but why is there no name attached to it . There should be some names, its a big company. Anybody knows it could be this maybe ayman jabbers in washington. Who we said were going to get to, but now were going to get to him. Does he have a name . We have never met another ayman, either. Every third guy in ireland is named ayman. Do they do it that way . Thats how its done. Look, m