freeze. our road map begins with global volatility continuing. jim mcgoggin. and apollo and adt are in a deal. and the death of supreme court justice ascalia has creatd a firestorm. first up, stock futures jumping sharply. saudi arabia, russia, qatar and venezuela agreeing to freeze output at january levels provide that other major exporters follow suit. crude prices rose off their highs of the morning. some analysts expected an agreement to cut production. that s not exactly what we re talking about now iran on the tape is saying, maybe, we still want our piece. that s going to be the question, iran and iraq as well who is also ramping up production to get money, it s an expensive fight it has on its hands with isis. that s the big caveat that oil producers will agree. before this announcement, brent crude was up as much as 5%. it s still higher. the bulls would say, at least we re getting diplomacy. this is the first coordinated move that the major producers are doi
good morning, and welcome to world wor worldwide exchange on cnbc. i m sara eisen. and i m wilfred frost. let s have a look at u.s. equity futures. we ve seen some rebounds across the board. today, though, a little bit of red. in fact, quite a marked amount of red as we look at things. the dow expected to open down by 123 points. the s&p by 16. the nasdaq by the 43. a quick look also at the ten-year yield. it s been a great gauge of risk sentiment. we re looking at 1.84 this morning. that yield has been ticking up the last week or two, showing that risk sentiment has been improving. just holding those levels this morning. while you were sleeping, a lot of economic data coming out of asia overnight. here s a quick summary for you. a revision to japan s fourth quarter gdp showing the economy there contracted little less than first thought. the economy in japan shrinking at an annualized 1.1% rate. that was up from a preliminary read of 1.4% contraction. in a separate repo
throughout. tom lee said himself, the financials, the idea that we re out with some of those, that sounds like great news to him. it s something they re going to be covering in squawk on the street right now. expired, by which the underwriters can start saying what they think. and guess what eric schmidt thinks is the company s biggest rival when it comes to search. the answer may surprise you. got his attention. a big day for bank earnings. jpmorgan chase posting a third quarter earnings miss. revenues, though, did exceed estimates, helped by fixed income, currency, and commodity training. citi reported better than expected quarterly results while wells fargo came in right in line with what was expected for its third quarter earnings. the bank earnings coming one day after stocks posted the worst three-day losing streak we ve seen since 2011. the s&p 500 down nearly 1.7%, closing below its 200-day moving average for the first time in almost two years. i said 1.3, it was 1.
crude continues to fall. some americans can watch for $2.50 a gallon gas. can halliburton defend its oil business? retail sales better than expected. nordstrom earnings beat. a number of downgrades to contend with this morning. a richard branson-backed ipo at the nasdaq, virgin america. we ll have the first trade and interview with the ceo coming up. oil the big story, below $74. baker hughes confirming it is in preliminary merger talks with halliburton. the journal story said motivations behind the talks were unclear. i think we know what these boards are thinking. justice department is very good when it comes to business to consumer. they ll block a telco deal. justice department has been tone deaf when it comes to the oil patch. they allowed enterprise partners to become a gigantic, basically own the natural gas liquids market. this would be farce if they let this deal through. the way you get halliburton to give you good prices to pit it against baker hughes. if at&
you know, and the president s expected announcement tonight as he takes executive action on immigration policy as well, right? that s exactly right. bill, we were at the white house this afternoon. i can tell you people are buzzing about the fact that he s doing this. the questions it raises about the office. the executive action itself and what it means for the business community. and for the future of employment and wage growth in this country. we will get to all of those topics coming up. we have many important interviews to come over the next couple of hours here, including senator from wyoming, we have mary jo white, the s.e.c. chair, chris van hollen, the always outspoken and controversial michele bachmann coming your way as well. you re going to be talking to the president s council of economic advisers chair, jason furman and in a separate interview this hour, we have john barrasso from wyoming as well. a lot of things to talk about here, kelly, in terms of econom