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Decision but then they fell. the s&p 500 declined slightly, the nasdaq closed with a small gain. bank stocks fell on concerns about the weaker growth outlook. and new this morning china's ministry of commerce announced a trade delegation will be in beijing for two days of talks on march 28 and a chinese delegation will be in washington in early april. u.s. oil prices hit a milestone wednesday, briefly touching 60 bucks a barrel for the first time since november. crude closed 1.4% higher. the rebound reflects the effectiveness of a strategy by the saudi arabia led opec. they agreed last year ...

>> neil: he's great. as are you. and i'm looking at mortgage rates and people say where are we going with mortgage rates? sounds like they're not going to budge. >> mortgage rates will come down more given where the bond market closed out the day. we're at the ten-year yield. 2.53%. that goes below the armageddon 2.55 level of december. as we saw this morning the mortgage bankers association, applications to purchase a home were flat year over year. that is indicative of the fact that even with falling mortgage rates, you're not getting the traction -- jay powell is not getting the traction he...

In worst case scenario. if you look -- >> neil: the average is 16 to 18, right? >> 15.7 to be exact. >> neil: you're close. right. >> 14, we're splitting hairs here. 14 times earnings. dividend yields going up. revenue going up 5%. i feel like -- look outside, we're not going to a recession. so i think we're at a point here that it's this big dislocation of what the economy is doing and what the market is doing. >> investors were thinking this when they said it in 2006, too. i also field that -- >> neil: does it feel like that to you? >> could be the 20% correction that comes back strongly. we...

News for the economy. your thoughts. >> it's been a great piece of news for everybody that drives a car. it's like getting more money in your pocket when the gas prices are $2.31 for the average. that's what it is today, as you point out, 77 straight days. $2.36 a week ago, $2.55 a week ago. we've had a steady fuel rebate, if you well. we will see if that continues. we had a huge run-up in oil today. what trading day it's been great 8.6% on oil prices. see if it continues. where is the cheapest for gas? that would be the state of missouri. $1.88, average gallon in missouri and the cheapest gas...

Ainsley: thousands of protesters flooding the streets of paris macron's gas tax hike. steve: it cost the equivalent of 7 u.s. dollars per gallon. taxes make up 60% of that cost before the tax increase even goes into effect. ainsley: $7 a gallon. pete: here to more to weigh in host of the stuart varney and company stuart varney. >> where do you want to start? >> a tall tale of contrast berne style in europe and trump in the united states. in europe the state, the government is everything. that's neo socialism. in america, private enterprise is everything. and look what we have got. in america, ...