I think its going to be significant, 46,000 or 48,000 but you have the supply chain for gm, all of the construction around gm, so youve got a lot of ancillary folks that have been out of work and manufacturing isnt necessarily what drives the economy, its the consumer primarily and we are a service economy, and even though the numbers might be good, its the manufacturing thats really going tamp down here. Neil john, one one of the thins that im hearing to daniels point, not just 48 to 50,000gm striking workers impacting this but up to 200,000 more in ancillary business suppliers and the rest. What do you think of that . I think the estimate that roughly 75,000 to 80,000 jobs being temporarily lost because of gm strike. Neil okay, so if thats the case and they factored that in, is this just a oneoff, what do you think . A lot of reasons it can be a oneoff, results of slowdown at boeing, census workers who were temporarily hired and maybe are coming off the rolls, a lot of noise in the n
Today not really getting past the mid to upper teens and that will be the story for a couple of days. 5 below in mt. Pocono. 17 in millville. Ill walk you through the tenday forecast and track the potential of snow coming up. First, pamela . You mentioned the cold, and its already causing problems on the roadway out in east noriton. All lanes closes at hillcrest and germantown pike. Its cold outside, so its freezing up. They called in a salt truck to work on the problem. Another issue to pass along this morning, the broad street line going southbound running behind. There are equipment issues at Fern Rock Transportation Center which is causing that. On the schuylkill expressway this morning, everything there is looking pretty good. Take a look at the drive times. Average speeds in the 60s right now. Before i go, i want to tell you about one more thing im keeping my eye on. This is in cheltenham at ryers avenue and old soldiers road. Theres a vehicle fire to look out for headed that way
Price of oil today, wti crude well below 90 a barrel and sort of a line in the sand. We are at 88. 78. We were at 87 and change moments ago. Consistent with that, lets put up the u. S. 10year Interest Rates. Dropping. Were looking at 2. 35 . Pretty much a Straight Line down mirroring what were seeing as you mentioned in oil and stocks. It might be a classic riskoff kind of day and we have the panel to talk about and a new warning on Housing Market. Is a triple dip . Some see it hitting a speed bump. Find out whos saying that and could mean for the market and the economy. Big day here for the cnbc next 25. Three top candidates for that very exclusive list will be with us today. Melody hobson, Anne Wojcicki and kal cole with us. They will be with us today on closing bell. Yes. A lot coming up. Markets, as bill mentioned, pretty much the lows of the session. Dow off 200. 1 today. The nasdaq losing 50 points. S p off by about 20. Russell 2000, art cashi this morning on show yesterday we sh
U. S. Economy atop of worries about emerging markets. It was an orderly but a broad selloff with almost all sectors down 2 to 3 . Even staples was down 2 . The volume was very heavy, one of the heaviest days in a year suggesting that many professional traders were lightening up exposures to stock. Theres been a lot of talk about market complacency. As i mentioned, the volume was huge. 4. 7 billion. Thats one of the heaviest days in more than a year. As i mentioned, the volatility, the v. I. X. , closes at the highest level in years. Bottom line, most traders saw bonds that continue to rise while stocks continue to move up. So far, the consensus has been completely wrong, larry, but then again it usually is. Lets call it the great rotation in reverse. Back to you. All right. Many thanks, bob pisani. Appreciate it. Lets talk about how the key asian markets have opened after the big selloff. Matthew taylor is joining us live from sydney, australia. The nikkei just opened. 8 on japan. Push
A bipartisan letter with democrats defecting from the boehner plan. In the meantime, a nice game for the day for the dow, but a stunning selloff for apple. Do you know what . Fiscal cliff or not, the s p 500 is up 12 year to date. That is a handsome gain for investors, an optimistic year, believe it or not. And we already bailed out detroits auto industry. But now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. This sure isnt the free market, and i asked why should a texas taxpayer bail out detroit . Breaking news from syria, and it is a blockbuster. The assad regime is walking and loading its chemical weapons, ready to use them on its own people. Nbcs chief pentagon correspondent joins us now. Jim, is this the red line president obama was warning about . Well, not quite yet. U. S. Officials tell us that the Syrian Military is poised to use chemical weapons against their own people, and all it would take really is the