Oil is nearly unchanged. We begin with janet general on the hymn, day one of congressional testimony. The market awaits any change in Interest Rate policy. Disney and time warner both report earnings but fail to catch a bid. Yes, earnings were beat. Most stocks sharply lower. Well fill you in. Trumpsanders taking the state t. Race moves on to South Carolina and nevada. But first up, were less than an hour away from generals spy annual testimony on the economy and Monetary Policy. This morning, shell appear before the House Financial Services committee. Tomorrow, of course, the Senate Banking committee. In her prepared remarks, she says financial conditions have recently become less supportive of growth and a lower path of fed funds rate would be appropriate if the economy were to disappoint. But she adds, she still sees moderate growth ahead 245 would allow the fed to pursue gradual rate increases. We will bring you live coverage at 10 00 a. M. Eastern. She talks about slack in the lab
A bruising found on the body. Weather. Still talking on and off again lakeeffect snow showers. We have warnings in place until this afternoon. The west side has seen an increase of the darkest pup police on 80 we have the heaviest snow at this hour. It makes its way to elyria. Notice heavier snow here in the eastern corner of lorain heading to cuyahoga and strongsville. North olmsted light rainfall. Moderate pockets farther south northern medina into summit. Hinkley to brunswick, 271 and a little on 71 seeing some heavier pockets of snow. Visibilities will be done in seen this story for over 24 hours. It picked up yesterday about this time. We are not seeing anything like yesterday which is good but moderate pockets here in geauga, southern sections of lake pushing into ashtabula. For the additional story of the temperature, teens. Daytime high only 19. With the extra winds at around 13 to 15 miles per hour, it feels like many of us are close to zero degrees. We will see if we have any
The truth on behalf of the families for the four dead americans. I should not be a distraction from that, and thats part of the decision as well. Thank you very much. Theres been some rumors that a letter that was put out by no. Can you put to rest those right now . No. Come on. Who do you think [ inaudible ]. Huh . Who do you think i think the conference should be able to decide. Thank you all very much. Okay. That was Kevin Mccarthy listening right there just a few moments after he shocked a lot of people pulling out of the race for House Speaker. He said of the party, i think were going to be stronger. He admitted that the vote was going to be tough, said he didnt want to win with 220 votes, would rather win with a much larger majority and also commented on the comments he made regarding the Benghazi Committee saying that wasnt helpful to the overall process. Were sort of left in limbo as to where the vote for House Speaker goes from here. The stock market clearly didnt like the new
200mileanhour winds and its heading right toward mexico. Were tracking this very dangerous situation. We begin with the rally on wall street with another big rally. This time its thanks to a rate cut by china and also some very good earnings right here at home. For the technicians out there, the dow, the s p, and the nasdaq have crossed above their 200 day moving averages with the s p now going positive for 2015 joining the nasdaq in that camp. The dow is still negative yeartodate. Were on watch for that as its up by 106 points right now. The s p is gaining by 0. 8 and the nasdaq is the clear winner, tech is leading the way up by nearly 2 for that index. Lets get more trading action this hour. Mary thompson from the nyse floor, but first Morgan Brennan, you have the big star at the nasdaq. I know. Its really the nasdaq has been soaring today, up almost 2 , 1. 9 , 94, almost 95 points to 5,014. This is First Time Since august 19th weve seen the nasdaq trading above 5,000. Thats when we
Today with oil down quite a lot. In fact, its currently down by nearly 3 sitting below 42 bucks a barrel. Over the last year oil has lost 45 of its value. Who do the numbers stay . Coming from the transport sector the numbers may be signaling a possible recession. Well tell you what those numbers are and why you might want to take note. As we can see, stocks are sliding at this hour. Get down to the floor with bob pisani. How much of this is due to oil, bob . A very large part of it. Lets look at the s p 500. We got down right at the open, 12, 14 points on the s p and nefer looked bac ee eed back. Mandy is right, its the commodity complex, particularly Energy Stocks thats having a problem and this has been going on for days. Big moves down in some of these names, and sop me of them are dn double digits, anadarko, murphy, down double digits. Weve been talking about this all week. We know the lowest level since august, a lot of warm weather. There was some disappointment we didnt get a d