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Texas intermediate. Oil started dipping lower. We have nice market leaders. Pharmaceuticals have been strong all year. They are up. Bio tech stocks up. The problem is in the oil sector. All the names we see almost every day all down as we saw oil dropping into the 52 range right now. I want to show you what the problem is. People keep asking me should you buy Exploration Production stocks here . Look at eog. Big in the permian basin, bakkan. That stock is down 25 , almost 30 in the last few months. The numbers are plummeting almost every day. Right now in 2014 they are estimated to make 5. 32. The numbers for 2015 are down at the low threes. 40 decline in earnings. They are expecting the market earnings to drop 40 . The stock is only down 25 . People tell me on a relative basis is this still a buy right now . Id say to wait a little longer. Almost every day the numbers keep coming down. That is what makes it a little hesit ....
Traders spent much of the morning waiting for speaker baner to emerge from the meeting with the House Republican s. He same out and said they made no decisions at all. Is it fair to say Speaker Boehner doesnt have the votes to get whatever they have on the table through the house . Yes. The situation is in flux right now and it was surprise because yesterday was all about the Senate Making progress, harry reid and Mitch Mcconnell on a plan that they were going to send to the house and count on the house to pass it. John boehner had a meeting with his caucus, came out, and when he spoke to cameras it was clear that caucus was badly divided. They arent sure which way to turn. There have been no decisions about what exactly we will do. Trying to find a way forward i ....
Possibly have happened in this great country of ours . Lets go to nbcs chris palone near the scene with the latest. Reporter at the hour in newtown, connecticut, people are starting to gather in at least three local Churches Holding prayer vigils for the victims families. Police say it could take up to two more days to identify all the victims and collect all the clues at the Elementary School here near me. The big question on everyones mind tonight is why . Imaginable horror. More than a dozen Elementary Schoolchildren brutally murdered by a gunman who walked into a school and opened fire. There were 18 children pronounced dead at the scene. There were two children transported to area hospital, pronounced dead at the hospital. There were six adults that were pronounced dead at the scene. Reporter frantic parents ....
To Monetary Policy. Rates will be staying where they are right now, which is close to zero, of course. Until at the very least the jobless rate falls to 6. 5 . We can only cross our fingers wherefore when that might be. Ben bernanke says these changes will make the central bank more transparent adding they can only help the markets. The central bank ramped up its Asset Purchase Program adding 40 billion to its 40 billion a month purchases of mortgagebacked bonds. He spoke about the objectives during wednesdays news conference. The asset purchases and the rate increases have different objectives. The asset purchases are about creating near term momentum in the economy, trying to strengthen growth and job creation in the near term. And the increases in the federal funds rate are about objectives. On that note, lets get dinos take on the latest move. Grpg month. For you ....
108. The current continues index, 111. 3 in october. Again, versus the reuters consensus of 111. 6. Ifo expected index, 103. 6, a little below the expected forecast of 104. 5. There are no revisions to the september indices. The ifo index is probably the years most important sentiment index, slightly lower than what we might have thought. Not by much, but by a little bit. Joining us in the studio for the first part of the show today, moo moodys analytics. Frank, thanks very much for joining us. Thats the ifo sentiment index. Slightly lower than we might have thought. Yesterday we saw from the pmis, as well, slightly weaker than we might have thought. Is the economy, are things just softening slightly . I dont think so. The German Economy is doing very well. The pmi did slow down a little bit. They came weaker, but they still point to expansion this year. The Unemployment Rate< ....