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2. 64. Our road map begins with with the fax shutting down for the first time in 17 years. 800 federal workers furloughed. Merck cutting an additional 8,500 jobs, aiming to reduce annual operating costs by 2. 5 billion. All of that. Plus more and mad moneys big milestone tonight. First, the federal government has begun a Government Shutdown. 800,000 federal workers will be furloughed today with national parks, smithsonian, museums, most federal offices closing. We mentioned what gold is doing. Why how is the market trying to arbitrage this, jim . I think this is one of the crux of things. Europe is getting stronger, japan had some good things. Futures percolate, this morning they were up 8 and now theyve been cut in half. As theyve been cut in half people say this is a great opportunity again, ill sell again and buy lower. And up opening in the face, this, theres a lot of people who think is going to be resolved by friday. I ....
Flat line. Gold gave traders some excitment rising 20 and oil dropped 1. 92. Pfizer is among the stocks to watch today after losing a patent ruling for its number one selling arthritis drug celebrex. Gm is out with a recomendation that drivers use just one key and the fob to avoid an ignition switch issue. The ignition is under recall. Gm is offering free loaner cars. President is urging congers to pass an aid package for ukraine while warning russian president Vldamir Putin of the high cost of invading the nation. Todd horwitz of average joe options joins us on the show now. Good morning bub. Good morning angie. Are we in for a market meltdown or a Holding Pattern . Its a great question and i think the markets actually going to make an extremely large move here. I tend to think to the downside. As you know i like to be dr. Doom. But if it went to the upside it wouldnt be sur ....
Here it is our moment of zen. You can never remember what Kim Kardashian did in the first place that you know who Kim Kardashian is but there she is. And now you know who she is so whatever she does, then you got to cover it i feel captioning sponsored by Comedy Central theme song playing cheers and applause stephen welcome to the show, everybody. Welcome to the report. Good to have you with us. Stephen Stephen StephenStephen StephenStephen Stephen thank you so much cheers and applause . Thank you, ladies and gentlemen. Nation, lets get straight to the top story tonight me. laughter the world is abuzz over last nights show. It was my third annual colb ....
His testimony to congress on the economy. They are seeking clues as to when the fed will taper its bondbuying program thats been stimulating the economy. Stocks sink ahead of the fed testimony. The dow lost 32 points, the nasdaq 8, and the s p dropped 7. Gold edged up 8 and oil slid 35 cents. Yahoo is sending out a mixed message. The tech Company Earned a nickel more than anticipated, but the revenue and the outlook came in shy. Csx chugs along profits were up 4 as freight volumes rise. Larry shover of sfg alternatives gets the ball rolling for us this morning. Larry, what is the market telling us about that testimony on capitol hill by fed chair ben bernanke . Its funny you mention that. I think the next two days were just going to be on hold. People are so worried about the disconnect between gdp thats being revised downward and the jobs report, so people just dont know what to do with this. Perhaps some people thinking that tap ....
From coast to coast not guilty. Reporter the impact of that verdict read in a sanford, florida, courtroom continues to be felt across the country. I couldnt imagine being that familiar hi right now. I just thought we were going to get some kind of justice. Reporter emotions ran high after a jury found George Zimmerman not guilty in the death of 17yearold trayvon martin. Authorities in oakland, california, say demonstrators vandalized businesses. But in most other places peaceful protests both small and large against whats being called a miscarriage of justice. Hundreds taking to the streets carrying signs calling for justice for trayvon. In is a 17yearold kid murdered by a vigilante who followed him, profiled him and shot him dead. Reporter the jurys decision sparked debate. Jury of six women, not one africanamerican, not one male. For a jury of his peers. Reporter a bishop in texas hopes the outcry leads to a better system wher ....