Have been lost as a result of all of that. The biggest blizzard though turned out to be inside the New York Stock Exchange today. Well put. Take a look at whats happening in the market. We are geared up for a negative start then got a flurry of earnings. Caterpillar disappointing. Microsoft didnt help thing. Both stocks getting hit hard. Whats interesting, thats contributing to the dow being a weaker performer than the s p today. Its off 231 points. The s p mean while down less than 1 . So you could argue perhaps its an oversized reaction to a couple big companies, but by the way, theyre important companies, and by the way, the nasdaq also off 1. 3 . If we get a moment could we see crude oil settled higher. We did see a comeback in that sector and energy was one of the leaders to the upside in an otherwise down day. Crude oil was up 2 . It was up 3 in the settlement. Were in the electronic trading right now. In fact, i will just point out, the aaa Daily National average gasoline gauge
The countrys finance minister backs on demands that they write off the debt. Instead proposing a swap. They send the aussie dollar to a six year low. The Indian Central Bank keeping its powder dry. Youre watching Worldwide Exchange bringing you Business News from around the globe. Hello everybody. Good morning. Welcome to a full two hours of Worldwide Exchange. Good to be back on the show. Great to have you. Great to be back. Lots going on today. Bp shares are already trading higher this morning despite a Fourth Quarter loss on deplacement cost basis. It will reduce cap exspending this year. In a short time well be speaking with the bp ceo bob dudly for his take on the numbers. Well be talking to the man himself any minute now. Lets take a look at oil prices. They have been rallying in fact gaining about 11 . Were looking at light crude trading at 50. 67. Up about 2 . Brent crude up about 2. 5 . Interestingly enough were ceiling this rally in oil prices despite the u. S. Refinery strik
Is a classic stealth rally. It happened very slowly. We saw material Stocks Energy stocks moving up. 41, advancing to the declining stocks throughout the day its gotten better. Slowly to the close. Its just not the kind of year that has felt like a record high year yet. If things change and we should mention the dow itself is only 100 points off. It helps that cisco is having a great day. Semiconductors have had a great month as well. Meanwhile, tesla is running out of juice. They hit hard the founder says his Company Still will be worth as much as apple, remember apples worth 700 billion right now. He says thats what tesla will be worth in ten years time. Were going to look at tesla and apple and figure out which youd be better off owning for the next decade. The government seizing the personal Bank Accounts of Small Business owners without justification or accountability. This didnt happen in venezuela or cuba or russia but right here in the United States. The irs is now facing incre
Retail sales barel budged coming in unchanged in april. Many considered this report just as important in its own way as the Monthly Employment number but for now no sign of an economic bounceback and that could make the federal reserves decision on when to hike Interest Rates even more complicated. Hampton pearson reports. No signs of a springtime rebound in the economy from the latest retail sales numbers. The april downturn saw things downs. Clothing sales were up slightly along with Sporting Goods and online stores. The biggest bounce was garld material and building equipment and bars as the hibernation finally ended but still a catch 22 for the feds. Low rates are supposed to help spending but consumers didnt spend in april, when the weather was bad in february and march and havent been spending since last fall. Over the last six months weve essentially flatlined. So the Monetary Policy with the intention to drive demand has pulled forward so much Economic Activity there is only so
Profits. Nestle hits the sweet spot. Despite a slow down in emerging markets. Coming up we speak to the ceo of the swiss consumer giant. Youre watching Worldwide Exchange bringing you Business News from around the globe. Straight to our top story this morning, in the last ten minutes the ecb has denied or thes that policy makers have discussed capital controls from greece. The report came from a german newspaper citing bank sources. Anneta lets start with you. Were just hearing from the ecb that the governing counsel has not passed capital controls for greece. That refers to the report we had this morning in which they were quoting ecb officials saying that it would be a good idea for greece to install capital controls looking at the outflow of deposits which were currently seeing. Of course the ecb is saying that has not been dispatched from the governing council but putting that official opinion aside, looking at the rational behind spreading such rumor at that point in time could le