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The selling is fairly steep. A selloff that is not only steep but broad. , everythingthe imap is in the red. Energy is declining the most, not surprising with whats happening in oil prices. Financials, discretionary also participating. I want to point out one stock, chesapeake energy. Reports that the company will be one tranche of its debt. There has been a lot of concern over the oil and gas producer. The stock has been halted several times this morning. I believe it is currently halted once again. This is what happens when you see big movement in a stock. It looks like that is happening with chesapeake as it declines. Lets get to oil prices as well. 30. 08 a barrel, as there is still the same concern as in the markets as far as the demand equation. Interest inat open crude futures, on the long and looking atso we are short contracts in yellow come along contracts in white. Added together, you have the largest amount of open interest on these futures going back to 2006, when they sta ....
If you take a look at the , you will see that Information Technology is one of the groups that is participating in the rally. Tech is coming back today. Banks are coming back today, as well. We do have to mention what is going on with oil as well. Because we had the big overnight move upward in oil prices on the news that saudi arabia and russia had agreed to Freeze Oil Production but then disappointment as that was all they agreed to do. We started to see oil move downward. We are lower on the day. Oil drillers are lower today. We did have wells fargo cutting earnings estimates for many of the Drilling Companies and cutting production targets overall for the industry. We had yet another driller claim bankruptcy. All of that is putting the pressure on and this is one of the groups that is not participa ....
Wednesday after being indicted. What does this mean for the legacy of the oil pioneer and where does the investigation go from here. Breaking Economic Data crossing the bloomberg aired lets set it over to julie hyman who has the details. Julie the nonmanufacturing composite index 53. 4, slightly above the 53. 1 analyst had been anticipating. This is after in earlier measure where it came in below estimates and below 50. That is the dividing line between contraction and expansion. Factoring orders coming in below estimates, 1. 6 gain versus the 1. 2 that was estimated by economist. Factory orders excluding. 2 nsportation and falling 4 test be a volatile number. If you look at capital goods order, you have a gain of 3. 4 . A lot of numbers just coming out in the past few moments. The Services Part of the economy does the largest part of the u. S. Economy. You see what stocks are ....
Is it the nondecision. Is that how it should look at it . Tom that is what i am hearing from my colleague. Mike will be in washington at 2 00 p. M. Everybody looking for to december 16. Some of the challenges. You see it in the red headline. The norwegian sovereign wealth fund. The 4 return showing the challenges of working across assets. Jonathan it is remarkably difficult for the norwegian sovereign wealth fund. We will be talking about the carpet number of the bit later. For now, lets get the bloomberg volkswagen is feeling the pain. Vw posted a 3. 9 billion loss in their thirdquarter. Its first loss in 15 years. German automaker has had has said expectations will be lower than they were a year ago. It is cost vw 7. 4 billion which is more than the Company Originally set aside. Barclays has gone to the u. S. For its next ceo. Jes staley will take over. At one time, he was considered a likely successor. Three much ago, barcl ....
Right now with the s p, it is up marginally up. 1 . Across the board, markets are in positive territory now. Volatility has been the overarching theme today. Tour of the entire day, we did slide through the morning. I will continue on and talk function here. On 10e seen sector help sectors for the s p. Lets take a look at this. Materials are the biggest loser. Financials down a quarter of 1 . Earlier today, we saw as many as seven sectors in the red. We have been seeing this pretty much going on throughout the day. One thing i want to talk about is at least with materials, dallas and dupont are falling after last weeks merger announcement. Download being the big catalyst there. He supports the deal but does not support the dow ceo or take a look at the reaction. Dupont and the dow down by more and logan is calling for his removal. He is questioned whether the deal is rushed to be conspiring of an agreement between the dow and third point. We had a 35 panel this morning. But things have ....