Petroleum output by nearly. 1. And the imf and the world bank prepare to meet amid the worst downturn since the 1930s. The new reality of economies, collapsing train and mounting unemployment. Shery lets get you started with the markets. U. S. Futures are higher after u. S. Stocks posted the biggest weekly gains since 1974. Nikkei futures higher half a percent as we had a closeout a twoweek high. Take a look at crude. We have the historic opecplus decision, finalizing record cuts of 9. 7 Million Barrels per day, the single largest in history. Wti is gaining ground. Mexico alsoafter joined the conversation and agreed to cut 100,000 barrels per day. We will have more coming up. That is right. After several days of the virtual talks, global diplomacy finally ended in a Historic Deal to cut oil output by nearly. 1 . Destroyed oil prices. President. Great to have you. Can we breathe a sigh of relief . The cuts that have been announced, if there is adherence to those, and we have additional
The media loves this. The New York Times says Party Fissures have been exposed in an embarrassing setback for republicans, end quote. And here is a dire warning from the conservatives, if g. O. P. Senators blow this, say hello to Single Payer Health care. I repeat, this is not good news. However, yet again, political paralysis has not spilled over to the markets. The modest gain for the dow expected right there at the opening bell today. But the markets are getting nervous. And an another 100 point drop for the dow yesterday, all the big five Technology Stocks took a hit yesterday and there were modest rebound today, but thats not much. A modest rebound. Wait, theres more. Gas down again, see that smile . The white house calls out cnn and sarah palin sues the New York Times. Big day for politics and for your money. Varney company is about to begin. Now, the headline there was the collapse of venezuela and, yes, its really in crisis. Look at this. The countrys president maduro claims th
A laundry list in the op ed, tax reform, health care legislation, terrorism, reforming education prices. What will they get to in the first meeting on friday . Well, gerri, everyone should have realistic expectations what ultimately can happen here. Anything that the president s desk you need 60 votes. Which means you need a fair amount of democratic support in the senate. You need the president to sign it. If you winnow things through the through tests they are fairly minor. Good steps in the right direction. Keystone pipeline would be on top of the list. Maybe trade measures. Nothing that is really, truly transformative. Gerri that sounded like mcconnell was pointing to when he spoke yesterday. He seemed to be saying dont expect the world. Well not be able to get everything done. Susan, to you, what do Small Business operators want to see . Gerri, Small Business wants to see two things very critical. Not so much, healthcare. Theyre sending employees to exchanges with under 50 employe
We should get ready for more of the same in the u. S. A few days of triple digit declines and we will have more in the future. This is what the true normal market is like. There is a cliche for good reason. It is true people keep valuations. In syria, the Turkish Border, Islamic States. Has pushed further into the city. Meanwhile, leon panetta says the u. S. Needs to look at islamic as a real threat. I view this, charlie, as a continuum of 9 11. I think when you look at the broad sweep of terrorism, isis is another piece to that. Attackingntent on this country as well. We have to view this in the larger context. We will bring you more from that interview as well. Federer product federal prosecutors, currency rate rigging. That is according to people familiar with the investigation who declined to be identified. Several firms, including one here in the u. S. Prosecutors are looking into allegations that traders share data. A merger could create a new worldwide leader in the Auto Industr
Must act to pass Data Security and breach notification legislation. The administration has proposed similar legislation. Congress must act again and we must ensure that such legislation makes its way to the president s desk for signature. To that end, im most interested to hear any opinions of the f. T. C. And what they may wish to share to us. All my questions this morning will be addressed to chairman ramirez. Now, chairman, in your written testimony, indicates that the commission enforces a variety of statutes such as gramleach bliley and Privacy Protection act. Do any of these acts require an f. T. C. Entity whose collection of personal identification has been breached to notify customers . Yes or no . No. That is needed, i assume . Yes. Absolutely. Now madam chairman, do any of these acts require notification of the federal trade commission or Law Enforcement in general of such a breach, yes or no . No. Madam chairman, should the Congress Enact a federal Data Security and breach n