Ramey 490,000 new home sales for the month of november. This is less than what we were expecting for the month of november coming in at 500 thousand, so amiss. For the this is a miss month before. Youre looking at the revised number for october of 470,000, so a miss. That would have been three a row of gains, but we are missing that. Lets go to university of Michigan Consumer data and that is beating estimates, coming in at 92. 6. Iswere expecting 92, so this meaning we are seeing five months in a row of rises and better than what we saw from prior 91. 8 for the month of november. With see what is happening the markets. The markets opened in the green earlier and this is where we are. The markets looking like they are continuing to rise. The s p 500 is up by three quarters of 1 and the dow jones is up similarly and the nasdaq up by about two thirds of 1 . We are in positive territory. Down to the bloomberg territory, leading that the lets take a look at the leading and lagging. Let me
Cfo will join us first on cnbc. Staples and office depot higher in the premarket, reports two in advanced merger talks. First up Oil Prices Rising sharply on expectation of decline and u. S. Drilling activity. Bp posted better than expected quarterly results. Bp ceo bob dudley spoke this morning. I think its going to take time. Could be a long time. There is excess supply. U. S. Productions still growing. We see about the rig counts what its growing. And chinese demand of course great. Growth in china is not as high as it was. So we have stock levels filling up all over the world, tanks filling up. Wont be long before people putting them in ships and that take is along time to work its way off. Is there a lot of oil news today. Thats just one data point. I love bob. Hes late here. Theres already been a dramatic increase in the number of financial players taking down tankers. If you look at nordic and american tanker they will tell you that is happening now. Whats interesting and bob du
Line, General Mills exceeding expectations. Prime minister netanyahu declaring victory in israels election. Tim cook explains why its okay that you dont flowknow yet why you need his watch as apple gets set to join the dow after the bell today. Investors bracing for the fed statement. See theyll drop the word patient. Janet yellen will hold a News Conference. Well have complete coverage of the fed decision beginning at 2 00 p. M. Eastern here on cnbc. Its being called the end of an era, end of the zerp era and end of an era that promises low rates for a given period of time. The word patience. The reason its important, if she does remove it it gives her flexibility to lay the groundwork for Interest Rate increase as if it werent a high stakes fed meeting, how about the letter from ray dalio, major Macro Hedge Fund strategist, talking about risks here. To be clear, we dont know nor does the fed know how much tightening will knock over the apple cart. What we do hope the fed knows, which
ConocoPhillips has agreed to acquire Marathon Oil in a $22.5 billion deal, aiming to increase scale, cash flow, and earnings while diversifying its exposure in several U.S. shale basins.
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