Losses early in the session after the ceo of russias Sovereign Wealth Fund told cnbc and moscow and saudi arabia are very close to an oil deal. Wti and brent are both coming off their best week on record. Not recent records on records ever all the way back to 1983 when they started tracking wti last week wti was up by 31. 7 . Up by 12 on friday alone. A meeting of Major Oil Producing Countries was delayed but still expected later this week that news just being told to cnbc that it looks like they are close to a deal. Andrew, ill send it over to you. Meantime, the latest on the pandemic the number of confirmed cases worldwide now totaling more than 1. 2 million. More than 330,000 of those are right here in the United States and more than a third of the u. S. Cases are in new york state. The death toll in america standing at more than 9600 overseas, british Prime Minister Boris Johnson was admitted to a hospital for tests a spokesman called it a precautionary test the Prime Minister test
They made their taxes lower, and far lower in many cases than ours and jobs left our country. Large corporations changed their Business Models by exploiting jobs to other countries and then shipping their goods back to the United States where they make massive profits and they wouldnt be paying tax to us either so we lost the jobs, we lost the taxes, they closed the buildings, they closed the plants and factories, we got nothing but unemployment we got nothing other businesses, even classic American Brands switch their headquarters to foreign countries. Because of this and other reasons like weak borders, america remains stuck in the past although i have to tell you, we have general kelly here today, and we stopped 78 going up to 80 on the border traffic coming through. In just a short period of time [ applause ] hes done some job whole different world out there right now. Today, we are still taxing our businesses at 35 and its way more than that and think of it, in some cases, way abo
2016. Our road map begins with a trump rally set to continue. News of white house appointments, his 60 minutes interview, takeaway for business and markets. Plus, we have a big deal in technology. Samsung is buying harmon for 8 billion in cash. It makes the south korean giant a major player in the connected car. And apple caught up in some geopolitical rhetoric. China said to warn the United States about a potential trade war. And why that would affect iphone prices. But first, the election in effect, the focus, dow poised to open higher as it continues its march towards 19k after coming off the best week since 2011 gaining more than 5 . Bond yields continue to jump as the prospects of Infrastructure Spending during a Trump Presidency increase Inflation Expectations. And that 10year yield, jim, is pretty much all people can talk about. Im looking at that now and its why. You see a bank of america go up in tape early morning, that makes sense. Remember, theyve got this gigantic deposit
You see behind us, it is cooled off a bit. The dow is down about 15 points. But keep in mind, folks, we have seen huge moves in stocks, bonds and the dollar. Just since the election. And watch out for oil. Crude oil hitting a new threemonth low. Well have more on what is driving oil prices down straight ahead. Tyler . Thank you very much, brian. Tyler mathisen here. Here is what else is happening at this hour. Strong after shocks continue to rock new zealand following sundays 7. 8 magnitude earthquake. U. P. S. , air maintenance workers, voting to strike as contract negotiations stall. And the Transportation Department is setting new rules requiring electric and hybrid cars to emit sounds by 2018. So they cant sneak up on you anymore. We got a busy two hours ahead and we kick it off with the market, the dow, as brian mentioned, briefly hitting a record high at the open. It has since pulled back a bit. Despite the pullback, there are some notable standouts, often are, almost always are.
Launch an allout trade war against china. An oped in the chinesebacked newspaper, the global times said any new tariffs would trigger immediate Counter Measures from beijing. This comes in response to donald trump repeatedly saying on the campaign trail that the u. S. Would punish beijing with high import tariffs in response to what he considers unfair trade practices. He also wants to brand china a currency manipulator. The stakes, of course, could not be higher. Americans love iphones and other goods, from furniture to nike they get at low cost from china, but they resent the job loss that many rightly or wrongly lay at beijings doorstep. With china, they dump their product all over the place. So declares the president elect. But china is not taking those kinds of words sitting down. The country warning the president elect that it will meet a trade war with a trade war. The staterun global Times Newspaper telling president elect trump what that might look like. A batch of boeing orde