jump in crude and prices overnight, that could be very short-lived because yemen is not a big oil producer per se. there is a little bit of lmg in oil production but it isn t a big player. that means the supply concerns that we have over the last couple of months which have driven down the oil price so much, i think they re going to take center stage once again but we did see a little bit of a strike in yesterday s trading session and you also mentioned the markets overall. while we saw the nasdaq slumping it saw its almost biggest decline in one year. the biotech drove the declines. no specific reason there. what we re seeing as we re approaching the end of the quarter is that investors are selling stocks which have been seeing better pmpltserformance.
like or that we want to use. we want to be ready. and that s smart. interesting to part out, senator marco rubio gave the republican rebuttal to the state of the union. he saw what was leaked and called the plan half baked and seriously flawed. political analysts think nothing will get done unless rubio is on board. he blasted the president s plan over the weekend. so where this goes from here should be very interesting. interesting to see where we go. drivers are paying record high prices for gas for this time of year any way. aaa says the average price for a gallon is $3.71. prices have jumped 13% over the past week. the increase in costs are blamed on refinery problems and supply concerns and analysts predict no relief this spring when demand goes up. attention all you beef lovers, get ready to pay more for your steaks and hamburgers. word is that beef prices are now expected to increase as much as
prices as we saw a couple months ago? fox business network s robert gray is here. what are you hearing, robert? reporter: well, looks like the trend is going to continue to be lower. a couple of months ago we were hearing these dire voices of do you doom, $4, $5 a gallon. falling every day over the past two weeks by at least a penny a day so, clearly, the trend has been lower. we ve got a couple of reasons for this, we ve got supplies at near 20-year highs according to some analysts, and we ve also seen the global demand called into question here. a lot of concerns we see slowdowns in china, in europe and even concerns about our own economic recovery here at home. what you will find is, also, a big disparity from state to state. we joke all the time in this area, people driving into new jersey to fill up so much cheaper there than in new york city proper. and in connecticut and some other places because of the taxes. also supply concerns, if you re on the west coast, you know this we
from the besieged arab red crescent. western diplomats say that iran is trying to clean up something at its military base. inspectors believe the site may have been used to test triggers for nuclear bombs. this is what a solar flair looks like up close. the flair erupted and was captured by scientists in this dramatic video by nasa. we should be feeling its effects today as radiation distorts the magnetic field possibly disrupting the gps signals. those are the headlines from cnn. i m juanita raj paul. world business today starts now. good morning from cnn london, i m nina dos santos. and a very good afternoon from cnn hong kong, i m andrew stevens. welcome to world business today. the top stories this thursday, a boom town in the midst of devastation. we ll tell you about a japanese city doing brisk business as its neighbors struggle to rebuild. the deadline for the greek debt swap is fast approaching. the signs so far are good as people sign up to push the dea
school. the gun was found at the scene. witnesses say lane walked up to a group of students sitting in the cafeteria and opened fire. the latest polls put republican presidential frontrunners mitt romney and rick santorum in a dead heat going into today s primaries. both candidates have made a final push in michigan. the second contest is in arizona. michigan is a vital test of romney since he was born and raised there and his father served as governor. world business today starts now. good morning from cnn london. i m nina dell santos. good afternoon from cnn hong kong. i m andrew stevens. welcome to world business today. the top stories this tuesday, february 28th. asia chief explains the latest results and tells us where the growth is. the world conference, not his latest company s weapon against apple and google. it was wall street s gordon gecko who famously said greed is good. the actor who played him now has a very different message. first up, though,