Cspan, powered by cable. U. S. Senate is about to gavel in for more debate on the u. S. District Court Nomination for northern illinois. Lawmakers are also expect today vote on whether to begin work on a fiveyear f. A. A. Reauthoritization bill. Current f. A. A. Programs expire on may 10th. Live now to the floor of the senate here on cspan2. The presiding officer the senate will come to order. The chaplain, dr. Barry black, will lead the senate in prayer. The chaplain let us pray. Gracious god, turn your ears to listen to us. Without you, we are but disappearing dust. Draw near to us, for in your presence, we find our dignity and destiny. Lord, breathe into us the saving knowledge that we belong to you. May this awareness inspire us to live for your glory. Guide our lawmakers. Remind them that they can depend on you for the vindication of every just cause, the forgiveness of every confessed sin, and the protection from every weapon that is formed against them. May they trust you to giv
The yen soaring on the news. Does that excite you . With kelly here. Kelly can yes she loves currency stuff. Its crazy. Talking about 108 . Just the move. Look at that chart. I dont have a lot of insight. But i think it is remarkable that it can get whip sawed like that. Everybody piles in thinking it can only get weaker and then here we go. Live by the sword, die by the sword. Anyone putting their foot on the accelerate anywhere around the world is usually a boost and i thought really . This causes us to go down . Well the turnaround for japan. It was interesting when they did the negative rates thing in the first place. And everyones trying to do the same thing. But it was that moment they went negative you actually started to see things go the other way and it hasnt stopped since. When they go negative. Politicians do that a lot. They promise to not do that. I have to say two things. Can i compliment you this morning on two things . The tie and the haircut. Thank you. And dye job ho
Tyler, we begin with the selloff on the street. A triple digit drop for the dow with the major averages down more than 1 . This is actually we havent seen since late september for the dow and the s p. Weve been sort of a little bit complacent recently after all the volatility of late august and september. The nasdaq is down by just over 1 along with the dow and the s p. Lets get more with bob pisani at the nyse because you have fears, bob, about retailers reporting this week as well as, of course, the rate sensitive stocks in the firing line as well, right . Thats right. A number of different issues here. Six stocks declining for every one advancing. Look whats popped up again, the vix. We havent seen this move double digits since the end of september. Its 16 and change. I dont get concerned until its over 20, but this is a move we havent seen in the last five or six weeks. Why the drop . Mandy is right, a couple reasons here. There is continuing concerns about the reverberations on hi
The mouth expensive olympics in history are now underway in sochi russia today. There were qualifies events in snowboarding, and figure skating. The olympic flame also finished its tour a day before the opening ceremony. Construction crews are putting the finishing touches on security is tight as thousands of athletes and visitors attend the games. Despite threats of attacks from militant groups al jazeera has more now from sochi. Some of the preparations here have come down to the wire, with armies of helpers and volunteers putting the finishing touches to russias olympic dream. But on theve of the games an unlucked security development, a warning from the u. S. Government that bomb making equipment could be smuggled on to planes in tooth paste tubes. Russias deputy Prime Minister was quick with his reassurance. This information is being checked, if confirmed this means our Security Services are on alert. And this information that we got today about threats and risk allows us to say t
The nasdaq down by about 12. Because of tomorrows holiday, you do have the Labor Department coming out, releasing its weekly jobless claims numbers today. We get them a day early instead of a day late. Also today well be getting Weekly Mortgage rates. And freddie mac will report on the Weekly Mortgage rate averages as well. Lets talk about the top Global Market story this morning. It is greeces International Lenders, which did not reach a deal, and now they wont be releasing that next bailout payment. Nearly 12 hours of talks failed to reach a consensus. The imf and the central bank all going to gather again on monday to try again, but this is not necessarily good news at all. Hostess brands will proceed with a plan to go out of business. The maker of twinkies says lastminute talks with the striking workers broke down yesterday, hearing with a bankruptcy judge set for 11 00 eastern time. Then we have another string of bad news. A bad development. A very bad development. I thought for s