Achieve, still get you in the mid and even up ears around the region here with quiet conditions in place, storm scan, nice and tranquil. We have moonlit sky overhead. Nothing more than few high clouds here and there, High Pressure on our side for one more day, the thing is there is a storm system brewing off to the west, so eventually thats going to bring in wet weather. But for now you can bask in the quiet conditions, little chilly and breezy, that said up at mount pocono right now where you are at 29 degrees with that modest to northwest breeze making it feel that much colder but the wind flowing beginning to shift again, more out of the west to southwest, right now, thats 40 degrees here at Philadelphia International airport. Your a at pair of fours atlantic city, as the day progresses, though, see more than anything partly sunny sky we call it. We do expect to keep there sun around all day, and also keep the temperatures well above average. Fiftysix the daytime high. So as we move
Countdown. On the bottom of your screen, 1000 jobs are under threat. That is a story that nejra cehic will bring you in a little bit more detail. Story. Come on that backstopping the banks. Italian banks will be in focus once again, more details on the function. It is not a backstop bank, it is a backstop front. 3827 backan real, impeachment. The real is making its way up higher. 2. 8 yesterday. What you have here is politics, the new alpha in this market. Economists lowering the view in terms of what we look at for rates. Potential for recep leavy rousseffving leaving has emboldened oil is down 0. 3 . Goldmans doha will do little to boost prices. Kuwait having production at a 40year high. At the bottom of your screen, you have a break off trend. The relative strength indicator says that yen was overbought, dollar was oversold. You have this reversal of fortune. Temporary or longterm . We will discuss that. Sean solomon is here, good morning. Soloman is here, good morning. Assuageis is
In seattle after the seahawks first ever super bowl title. The first ever European Commission reports on corruption exposed fraud, bribery and describing a breath taking scandal. It is in 160 billion and the cost to the european economy every year and roughly equal to the Gross Domestic Product of romania. We have more on that. The commissioner is saying no state is corruption free. Across the Member States 76 of the people saying that corruption is widespread and that number is higher in spain, italy and greece with a number of people thinking that corruption is widespread. Those perceptions are far reaching. Corruption erodes the trust and hampers Foreign Investment and costs taxpayers millions and in many cases it is tooled for organizationed crime to watch their money. There is estimate that corruption is no less than 120 billion euros every year. That is a lot of money we are talking. On the whole the countries are performing well, finland and sweden and denmark. The solutions the
Important for every company that exports to that country. If they slow down exports to that country will slow down. Thats why its so important right now. And underlying a lot of this is this debate about liquidity versus fundamentals. Here is how we stand in the markets. The dow is near session lows off 256 points at this juncture. I believe the lows today were 262. And were heading back to that right now. Look at that. Decisively below 16,000. Speaking of at least round numbers, the s p 500, 1797. So we are below 1800 having given up about 31 points today or 1. 7 . We cannot emphasize too much that 1800 number what that means to traders. Its very important. Theyre watching that very carefully on the close today. And finally a look at the nasdaq which interestingly enough is the laggard today. Despite juniper doing a little better. We have the composite down 71 points. Lets talk about this selloff and put it in perspective with our guests today. Weve got Quincy Crosby from prudential f
Government and who knows what. And yet very little has happened. So were operating in a kind of a curve with exposes. Years ago there were far fewer exposes, and more happened. We had people in congress who with took these seriously, we had some judges who took some of them seriously. We had people in the white house who signed off on legislation under Lyndon Johnson and new york stock nixon. Nixon was the last republican to be afraid of liberals. He signed bills he loathed, he signed the Environmental Protection agency bill, the Occupational Safety and Health Administration bill, signed the safety bill, and he wanted more. He actually was the last to propose to congress a minimum incomes plan to reduce poverty and a drug policy plan that focused on rehabilitation, not incarceration. They didnt pass. He also supported Voting Rights for people here and in the District Of Columbia, americas foremost colony. This is richard nixon. So when we look back at richard nixon, it was from nostalg