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markets finished lowers on banking woes and the wider economy. nasdaq falling nearly 2%. ups reported a drop in quarterly sales in profit blaming slower u.s. retail sales. google and microsoft earnings beat expectations but showed slowing revenue growth. new home sales fell 9.6. gas prices fell a penny to $3.65. meta and boeing are set to report first quarter earnings later today, big, big earnings week. we're getting a lot on the read of the economy. today is the deadline house gop leaders set for themselves to get the 218 votes they need to raise the national debt limit with big spending cuts. yesterday the white house said it would veto the proposed bill calling it, quote, a reckless attempt to attract extreme concessions as a condition for the united states simply paying the bills it has already occurred. let's bring in lindsay mcpherson
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>> you know -- >> i'm good for photos today, not talking. >> ali and i blamed our inability to read or speak this week on the fact we were in washington, d.c. now we're in new york. >> sorry, folks. it's just us. we await the thing that she gets a nickel for every time it is said. >> memo. >> is this a turning point in american politics or much to do about nothing? bill kristol joins us next. we're watching the markets. dow jones industrial average down 300. this is a big earnings week. there is concern of interest rates going un. the number is noteworthy. stay with us. you're watching "velshi & ruhle." you know where, msnbc. liberty mutual stood with me when this guy got a flat tire in the middle of the night. hold on dad...
time delays even longer. >> and you know our airport infrastructure has not kept up with demand, and that's a problem, a real problem. u.s. stock futures higher this morning following a trend in the markets we've been seeing today. stocks around the world generally higher. dow futures up 41 points right now, ahead of a big earnings week. today alone, three dow stocks are reporting earnings. you're going to hear ibm, johnson & johnson, verizon, and stocks in london, frankfurt, paris, all higher right now. stocks in asia higher this morning. in japan, the nikkei up nearly 1%. stocks in asia gained as china's central bank pumped about $43 billion into money markets to ease fears of a credit crunch there. here's a sobering thought for you. want you to look at this statistic. about half of the world's wealth is owned by just 1% of the world's population. that works out to the 85 richest people owning the same amount as the bottom 3.5 billion. >> wow. >> this is a study from oxfam that comes just at the start of the world economic forum this week. leaders there in davos, switzerland, have identified
before they're released. >> there's a lot of propaganda at play here. of course, the important thing is to get this guy home. >> absolutely. all right, let's talk about the stock market, u.s. stock futures higher after a trend we're seeing in the markets all around the world. stocks around the globe are generally higher. dow futures up 56 points. that's ahead of a big earnings week. today alone we'll hear from ibm, johnson 'johnson and verizon. stocks in london, frankfurt and paris higher. asian stocks higher. stocks in asia gained as china's central bank pumped money into the money markets to ease a credit crunch there. we've heard a lot about income inequality lately. a report from oxfam says almost half the world's wealth is owned by just 1% of the world's population. that works out to the 85 richest people owning the same amount as the bottom 3.5 billion people. this study comes just ahead of the start of the world economic forum this week in davos, switzerland.
then on wednesday the president unveils his much anticipated budget. he'll also make a statement and then later on that evening sit down with a dozen republican lawmakers in an ongoing effort to reach across the aisle. and finally on the lighter side. the president will host music legends and honor the naval academy football team. >> i'm paul steinhauser at the cnn political desk. gun control is a top issue in a special congressional election tuesday in the chicago area. the seat became vacant after jesse jackson jr. stepped down before being convicted of felony tax fraud charges. the district is dominated by democrats. wednesday, demonstrators urging congress to act on immigration reform are expected to rally on the west front of the u.s. capitol. >> i'm poppy harlow in new york. a big earnings week ahead for wall street. quarterly results from aluminum giant alcoa and we'll hear from two big banks, jpmorgan chase and wells fargo will report their numbers, and a host of economic reports are due out this week. the fed will release the minutes detailing its march meeting on wednesday.
meet with sandy hook families. both the vice president and the first lady will also hold separate event on the issue this week here at the white house and in chicago. then on wednesday the president unveils his much anticipated budget. he'll also make a statement and then later on that evening sit down about w a dozen republican lawmakers in an ongoing effort to reach across the aisle and finally on the lighter side. the president will host music legends and honor the naval academy football team. >> i'm paul steinhauser at the cnn political desk. gun control is a top issue in a special congressional issue tuesday in the chicago area. the seat became vacant after jesse jackson jr. stepped down before being convicted of felony tax charges. the district is dominated by democrats. wednesday, demonstrators urging congress to act on immigration reform are expected to rally on the west front of the u.s. capitol. >> i'm poppy harlow in new york. a big earnings week ahead for wall street. quarterly results from aluminum
unveils his much anticipated budget. he'll also make a statement and then later on that evening sit down with a dozen republican lawmakers in an ongoing effort to reach across the aisle. and finally on the lighter side. the president will host music legends and honor the naval academy football team. >> i'm paul steinhauser at the cnn political desk. gun control is a top issue in a special congressional election tuesday in the chicago area. the seat became vacant after jesse jackson jr. stepped down before being convicted of felony tax fraud charges. the district is dominated by democrats. wednesday, demonstrators urging congress to act on immigration reform are expected to rally on the west front of the u.s. capitol. >> i'm poppy harlow in new york. a big earnings week ahead for wall street. quarterly results from aluminum giant alcoa and we'll hear from two big banks, jpmorgan chase and wells fargo will report their numbers, and a host of economic reports are due out this week. the fed will release the minutes detailing its march meeting on wednesday.
2,000 offices planning to close their doors in march. >> we just heard the opening bell. what is in store for the markets? >> a flat open, a big earnings week. mcdonald's fourth quarter earnings were in line with estimates, thanks to the mcrib and mccafe. we will hear from american express after the close. analysts are warning even if we get strong earnings it may not be enough to lift the markets. a quick check on stocks, the dow up five, the nasdaq up slightly. >> alison, thank you very much. the news out of moscow. the blast at the airport there. matthew chance, what can you