Together. Kwaer very excited to have them join us this morning. Tweet us with questions from them, as well. Joe, back over to you for some headlines. Okay, becky. Ill read these headlines with maybe a little bit of an echo. I mean, im its like so alone here. But, you know, its okay, i guess. Youre kind of with me, right . Hey, joe, guess who i have with me. Besides warren . Yeah. Can you take a shot, jerry . Oh, i know, i know, i already asked. Ive already asked for mac, yeah. You know how that take a shot of yep. Hi, joe. Ive told you, he completes me. Ive said that to him before. Yes, thats why i took him. Is it a leaky roof . I never know what it is. Sick dog, what is it this time . Its okay on, but i found out he was with you and at least hes doing something. Right. Usually hes just you know, let me get on to these stories here. I almost said some anyway, the major story dominating the markets are morning is coming out is ukraine. Russian forces have seized the Southern Area of cri
Where the jobs are for the graduates of the class of 2014. First, to sue, who gave a very good commencement address at merritt a week or so ago. It was. It was a wonderful day for me, ty. We have breaking news on the fed an the economy in just under an hour from now. So were going to begin with the unintended consequences of the fed and its easy money policies. Yields in the benchmarks plunging 15 this year, now holding the 2. 60 . Mortgage rates at the lowest level in a year, but thats not helping housing. Diana olick has details on that. Hi, diana. Reporter hi, sue. The sxekdation was they lower rates would boost mortgage volumes, even if it was only refinances, but that did not happen form the average contract rate on a 30year fixed fell to 4. 26 last week. Thats the lowest in a year for the highest quality borrowers, the rates were nearing 4 . Jumbo and fha loan rates even lower, but no reaction on the application side. Refinances down 3 week to week, and applications to purchase a
Lawmaker hiking its full year outlook as sales jumped 70 in the Fourth Quarter. Twitter finally sets the price of its ipo today after the closing bell. The most anticipated tech offering since facebook last year. Very warm welcome to you. We kick off with the final snapshot of the services pmi and the composite. The final services pmi, 51. 6. A pick up from the 50. 9 flash number. The composite pmi, then, 51. 9. It was 51. 5 was the flash of the composite number was picked up, as well. October Services Output prices, 48. 5. That is a slight tick down in prices from 48. 6. Which was the flash number. Euro dollar just moved away from that sevenweek low. 1. 3501. Were traiding between that 1. 34 level and the two of year high which we hit two weeks ago, 1. 3833. Well get more action on the eurozone economy as we go through the program. Also listen to go what ba systems has to say, theyre expecting to act around 1,000 jobs in three uk shipyards. They will make more announcement a little bi
Manager. John halfer ford income trust. Fedex blasting away that Earnings Report leading to a huge rise in the value of that stock. Very shortly well have oracle reporting as well. Dennis will report that. We also have surprise visitors coming in including ron paul by the way toward the end of the hour. Tim, i want to go to you first, if i may, talk about who bernanke, bernanke is always talking about the economy. Always talking about unemployment motivating his decisions but to what extent was the Market Reaction the basis for his decision . That is, do you get a sense bernanke was playing to wall street in his decision today . If i would guess, david, i would guess he is playing to the Housing Market, maybe not so much wall street. Were stockpickers, not fedwatchers, but i think he was really spooked what the backup in rates could be doing to housing because housing has been one of the biggest drivers in the consumer led turn around. I think he was placing to the Housing Market, not
Us. Peter they are reporting that the russians fleet has no plans to launch an assault upon the Ukraine Military units. The fleet commander had set a deadline of 5 00 a. M. Tuesday for Ukrainian Forces to surrender. We are on a briefing. It is with a state Department Spokesman who was asked about this and that spokesman said that she could not confirm this report, but if true it would constitute a dangerous escalation of the situation in the ukraine and crimea in the United States would hold russia directly responsible for this escalation. Separately, also, the European Union now says it is considering targeted measures against russia. Vice President Biden called the russian Prime Minister this morning urging once again that russia pull back its forces in crimea. They said russia needs to support immediate employment of international monitors to the ukraine and should begin a meaningful political dialogue with ukrainian government. I also want to let you know that president obama is ab