Major averages here, all of them down by more than 1 . It would be tough to pin that on mario draghi since he spoke early this morning new york time. Its a broadbased selloff we are seeing today, we have energy stocks, health care stocks, financials, all trading lower and accelerating the decline. On. Day has gone interesting situation here, without a sharp catalyst necessarily as we head into the afternoon. Earlier affecting european stocks much more sharply than u. S. Stocks, coming out with a Quantitative Easing Program which he did not extend the size, he only extended the duration. Many Market Participants were surprised. I want to point out the movement we are seeing in transportation stocks today as well. The dow transportation average down 1. 7 , its lowest in about two months time. More bad news from the railroads today, Credit Suisse has been holding a two day industrials conference. Yesterday we heard some of their railways giving their outlooks. Union pacific the latest. It
This morning the speaker when asked about the plans asked about the details and i believe he said blah blah blah. [laughter] do you feel like you are begin their cut before you unveil your plan and giving the remarks where does this stand . I dont think we cannot afford to wait. I cant settle for an economy that grows at 2 , settle for high employmen unemployment andt able to live on their own. A declining wages for the middle class. We need to be the party of growth and opportunity, restoring the American Dream and this is something americans have hunger before. We have an obligation. I put up this draft so that we could engage the American People on this and i think this is some of that as i travel the country and through the hearings ive had this is something that is very much to move forward. The new cspan. Org website makes it easier than ever to keep tabs on washington, d. C. And share your findings via facebook, twitter and other networks. Easy search functions let you access da
Program,ng up on the cashing in on cosmetics. I meet the founder of space nk which sells some of the worlds finest makeup and the business of botox. I sit down with an apprentice winner who runs a chain of skincare clinics. That is still to come on the program. We begin with our top story, the abandoned megamerger. But lisas and omnicom have called off their 35 billion try to create the Worlds Largest Advertising Company. One executive not surprised. Bloomberg caught up with him earlier this morning. We were surprised by the speed with which it fell apart. Call three or four weeks ago, it was predictable that it was going to fall. They sort of semicriticized one another and both said it was better or it was good to be separate. For more on the deal, lets bring in Jonathan Ferro and matt campbell. Why has the deal been shelved . There are plenty of theories out there. Two main theories. One comes from the companies themselves. Tax, regulatory obstacles. Analysts will tell you it was dow