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tv   FBN AM  FOX Business  January 20, 2016 5:00am-6:01am EST

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>> lauren: breaking news this morning. oil prices sink below $28 a barrel. good morning, everybody. i'm lauren simonetti. >> nicole: good morning, i'm nicole petallides. u.s. stock market futures sharply lower ahead of the opening bell. also lows in the morning. dow futures down 292, s&p futures down 32. >> lauren: stock prices in asia under pressure sinking another 3.7% today. the hang seng down almost 4%. >> nicole: another letdown for crude oil prices with oil falling $28 a barrel.
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we will have complete market coverage for you. >> lauren: on the campaign trail donald trump picks up endorsement of sarah palin. and in sports, pete rose will have his number retired as hi gets into the hall of fame. show dominance by setting a new record. all coming up next. welcome to fbn:am, latest breaking news and what to expect ahead. looks like a tough one, nicole. >> nicole: police there say at least 19 have been killed, several other wounded. the taliban has claimed responsibility for this attack. back in 2014 taliban gunmen killed 150 people, mostly children in that country.
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>> lauren: getting back to the markets, lower ahead of the opening bell. dow futures fallen by 300 points. nasdaq futures by 84. declines about 2% across the board. we have gary b. smith, fox news contributor joining us this morning. gary, this is a market that just will not rally. >> gary: oh, boy, i tell you what, maybe you guys need stop having me on. i'm like the green reaper. it's just ugly out there. i've lived through the bare markets since the 80's, late 80's. for many people if we are in a bare market, this would be their first exposure to it. this is what it's like. you get horrible days and then you get days, thank god, it's
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over and days where we are going to open down 300 points. just to reiterate what you said, this is a scary time out there. >> nicole: basically you have the nikkei in bare market territory, the oil breaking below each low, right now, we are in the 27-dollar range for oil and they are selling on every rally. everybody is saying, what's up with my 401k and ira, every time i shouldn't look at it and, yes, people are panicked a little bit. i mean, you tell me. [laughter] >> gary: you can't help now. it's so much different, nicole incident as you well know even from 5-10 years ago even if you adopt a philosophy, i'm not going to look. everybody looks at twitter, internet and headline and they see the markets coming down. so the human response is to panic, all i can say to people
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is take a look at portfolio, make sure that you like erytng itherand en ose up ain. now you didn't make a -- you raise an interesting point about oil. now as opposed to two weeks ago, now we are on the emotional level on oil where the fundamentals don't justify $28 a barrel. i just looked at exxon oil, oil, if you will, down 35% in the last few months. exxon is down only 4 and a and a percent. >> lauren: why is exxon weathering the storm better than others? >> gary: exxon is the biggest one on the block, like others like marathon oil will break
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down, pieces. >> nicole: bare market territory down more than 20% from the june peak. get the asian market selloff can tracy yu that's live in beijing. tracy is a reporter for chinese state television. good morning, tracy. >> tracy: good morning, ladies, a total risk environment in china. thanks to aurally among coal producers and brokerages the losses were limited to 1%. over in hong kong dropping continues. you know in a risk environment, really puts pressure.
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nikkei down 3.7% and over in south korea heavy selling pressure brought the kospi to slow, down about 2.3% led by shipbuilders. >> nicole: thank you very much for your report. >> lauren: oil prices dropping about 3%, right near $27 a barrel. yes, that is the lowest since 2003. phil flynn, fox base contributor joining us on the phone. twenty-six cents a barrel. phil, the obvious question is how low will oil go. but my second question is, when would we see the oil market and equity market stopping in the same direction? >> phil: i think that's the million-dollar question. >> phil: really are start to go become reality. you would think that oil prices would be good for the global economy, we should be cheering, we are going to get a big boom in consumer growth and world economist are going to be to
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take more. what we are seeing here is that oil is now being viewed as the canarian, coal mine for the slow economic growth. the lower the price of oil goes, the bigger the fears become. >> nicole: there was a report after the bill yesterday and we walked about why mainstream cares about oil. there's a couple of reasons. oil drops, we are talking about 401k's and ira's that are down, we are also seeing some of the oil states now texas, and north dakota, some of the states that have exposure to oil in production in particular, those states are seeing mortgage dling -- delinquencies.
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>> phil: listen, oil prices when they go down for the right reason but when they start crashing because we become fearful, there are ramifications. we are going to see people get laid off. that's going to affect the jump-on market. you know, one of the reasons why we see boom in housing in some of the states is because people are making money in the oil industry and able to go and buy houses. we start to start to see foreclosures and it's bad news all over again. >> lauren: the ripple effect. thank you, phil flynn. >> phil: thank you. >> nicole: donald trump getting a major endorsement from former alaska governor sarah palin. trump is locked in the dead heat with texas senator ted cruz.
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>> you're ready for a commander in chief who will let our warriors do their job and kick isis's ass. i'm here to support the next president of the united states donald trump. >> nicole: another gop hopeful on the kelly file with his reaction. >> while i respect sarah palin, i don't think donald trump has the judgment or the ideas to keep us safe. i think the voters in iowa, new hampshire and primary voters in general are going to want to know who can beat hillary clinton and i have a proven record. >> nicole: meanwhile the oldest son of sarah palin was arrested. charged with assault interfering report of domestic violence crime and possessing gun will intoxicated.
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>> lauren: some timing. ben carson flew to the hospital omaha, nebraska suspending campaign of the death in south south carolina. >> the thing that impressed me was how compassionate he was, how caring he was about other people. >> nicole: according to letter in top inspector general and hillary clinton's emails on her unsecured home server contained intelligence from u.s. government's most secretive and highly classified program. fox news exclusively obtained the unclassified letter which was sent january 14th, detailed the findings of comprehensive review by intelligence agencies that identified several dozen additional classified emails.
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that's not good news. >> lauren: federal obamacare website was launched des fite federal officials security concerns. 10 days before the site went live medicaid and medicare discussed 17 security issues. documents allegedly show that moderate issues were never resolved. >> nicole: governor voted much of his state of address last night in water closes in flin, pipes are put resident at risk for lead exposure. $28million more into the short-term announced the depliment of more natural guard member to the city in the speech and the governor apologized to the resident. >> to you the people of flint, i say tonight as i have before,
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i'm sorry and i will fix it. no citizen of this great state should endure this kind of catastrophe, federal state and local leaders by breaking the trust you place in us, i'm sorry most of all that i let you down. >> nicole: snyder said by the end of the week, officials would visit every single household in flint to ensure that they will have water filters in every home. >> lauren: families are scared specially for the kids. all right, let's get you caught up in global market action overnight. in asia stocks tumbling. shanghai composite down 1%. the best of the group. hang seng down 3.8% and kospi 2.3%. >> nicole: all red also in europe, we are seeing stocks across the board and the dax. >> lauren: wow. >> nicole: cac down 3.4 and ftse nearly 3% this morning.
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>> lauren: it is an ugly day and translating here in the u.s. dow futures indicating a steep loss at the opening bell. s&p and the nasdaq lower by almost 2% across the board. >> nicole: why is this all happening? correlation between equities and commodities, oil to be specific here, 27.55. down over 3% this morning hitting new lows, 12-year lows. the safe haven of gold 7 bucks. >> lauren: this is how the dollar is trading against key currencies. >> nicole: let's take a look at the ten-year treasury. let's talk about ibm's fourth quarter. we heard of flow it spending and fell 8 and a half percent.
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predicted big earnings for this year. trading down about 18 and one half percent in the past year. and here is another one to watch, it was a case of good news and bad news, it was for netflix, boasted by international expansion, however, in the netflix missed target. netflix earned 2 cents a share. that was better than the estimates. we are up 7% in the after hours, not sure whether or not they'll be able to hold off this morning. of course, the darling over the 52 weeks. >> lauren: here is a look at highlights of wall street journal. the federal regulators are enforcing safety rules which should be more alleged violations against amtrak and
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freight carriers. you have bank of america, morgan stanley ready to cut more costs, the biggest u.s. banks cannot do anything to reverse the world's economic trouble. they turned to the thing they can control which is cutting costs. more than 50 admissions deans and educators at well-known colleges and universities have signed to a report to be released today that recommends way to tone down the pettive frenzy of the admissions process. >> nicole: as parents across the world, yahoo. rose is still not eligible for the national baseball hall of fame due to gambling as a player. the weekend of honors will be
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from june 24th to 26th. chicago bylaw hawkses beat the national predators 4 to 1. they tied their previous marks in 2012-'13 season. bylaw -- black hawks as they chase penguins record of 13 straight wins. oklahoma state, 86-67, the cowboys getting close last week when they almost beat oklahoma who was the number two team at that time. this time it got done behind 22 points from the freshmen evans. oklahoma state will travel to kansas state for the next game on saturday and don't forget the australian open is opened right now and djokovic is facing off against the 19-year-old frenchmen. we will keep you updated on that
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match. that's always to watch. >> lauren: meanwhile donald trump goes out in iowa with a new endorsement. >> his power and passion, the fabric of america and it's woven by work ethicsened what -- ethics and what a combination. >> lauren: twenty-seven dollars a barrel. that price dropped in crude rattling global stock markets. checking u.s. stock market futures ahead of the opening bell, dow futures down 328 points or 2%. nasdaq futures down 92 points or 92.2. you're watching fbn:am, first look at morning markets and breaking news. ♪ ♪ feel a cold coming on?
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sounds like my ride's ready. don't get stuck on hold. reach an expert fast. comcast business. built for business. >> nicole: breaking news this morning, oil prices sink below $28 a barrel. good morning to you, i'm nicole petallides. >> lauren: hey, everybody, i'm lauren simonetti. u.s. stock market futures lower ahead of opening bell. 313-point drop at the open, nasdaq futures down 87 points and s&p down 35. >> nicole: stop prices in asia under extreme pressure with index in bare territory 3.7%. >> lauren: behind the selloff, another letdown in crude oil prices. falling below $28 a barrel. concern about more oil and resilience of u.s. producers, that is making prices fall to
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$27 and 61 cents a barrel. we will have complete coverage. >> nicole: on the campaign trail, iowa goes out and gets endorsement of sarah palin. pete rose will have his number retired as he gets into a hall of fame. not the one he really wanted. well the black hawks continue to show dominance by setting new record, all the details coming up next. keep it right here, fbn:am, this is your first look at what's moving in today's market, the latest breaking news and what to expect for the selloff day ahead. >> lauren: are you ready, bugle up, it's going to be a tough one. let's get things started with what's going on in asia, it set the tone for today. u.s. stocks unable to rally yesterday. nikkei in bare market, tracy yu, business reporter for chinese state television joins us now. good morning, tracy.
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>> tracy: good morning, ladies, the tone isn't pretty. asian markets are emerse in a sea of red. shanghai composite slightly down earlier but thanks to rally of coal producers and brokerages, losses were limit today 1%. over in hong kong 3.8% and companies battered as oil prices continued, downward trajectory and over in to tokyo, officially entered a bare territory and risk environment fled to safe haven which put pressure on yen. put the kospi to a five-month low. kospi lost 2.3% led by china's shipbuilders. >> lauren: tracy yu, thank you so much.
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>> nicole: i know she said brokerages came back a little bit. we are seeing the ftse almost down 3%. the cac quarante dropping 3% each. >> lauren: right here in the u.s. stock market futures crumbling by 300 points. nasdaq down 87. >> nicole: we are seeing ripple effect coming out of oil as oil is in the 27-dollar range first time in 12 years. rippling across markets across the global. by the way, crude is also in the 27-dollar range this morning. gold up 5 and a quarter dollars. 10.94. >> lauren: people are putting the money if the safe haven. strength in the euro and pound. >> nicole: we are watching at 1.98% this moment. on the catchian trail republican presidential candidate donald trump getting major endorsement
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from former alaska governor sarah palin. this comes two weeks ahead of the iowa caucuses where trump is locked in dead heat with ted cruz. >> are you ready to stump for trump. i'm here to support the next president of the united states, donald trump. [cheers and applause] >> nicole: another gop white house hopeful jeb bush on the kelly file with his reaction. >> while, i respect sarah palin, i don't think donald trump has the judgment or the ideas to keep us safe. i think the voters in iowa, new hampshire and primaries voters in general are wanting to know who can beat hillary clinton. and i have a proven record. >> nicole: the oldest son on a different note sarah palin was arrested in a violent case, he's charged with assault, interfering with report of
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domestic violence crime and processing a weapon while intoxicated. we are talking about americans to prepare for a brutal winter storm this weekend. a foot or more of snow in northern states. we want to real details. we are going to the pro fox meteorologist maria molina. >> maria: it's going to be tough to hammer down who is going to get exactly how much snow specially across north eastern states. but it is looking more likely specially across mid atlantic that they could be dealing with a massive winter storm and eventually some other areas in the northeast could be impacted. i want to focus on the current windchill temperatures. this is what we are experiencing and parts of great lakes of midwest. take a look at chicago, detroit, windchill temperatures in the teens. single digits for you. we are tracking another storm
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system which is in parts of kentucky, tennessee, indiana. this storm is going to bring travel very difficult across the areas. you can look at anywhere 3-6-inches of snowfall, then another system develops behind this one and it's going to bring another round of snow and rain across these areas, eventually tracking towards the eastern u.s. and going to be developing off the coast of the mid atlantic and the big question becomes who sees snow, who sees very strong winds from it and again, it's looking likely across mid atlantic and eventually in the northeast. we are going to deal with heavy snowfall and strong winds in the forecast. head over to you. >> nicole: we will keep going to you all week long. thank you so much. >> maria: thanks. >> lauren: 50 million people are living in the northeast, we are going to brace for that. coming up, gop political
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tensions. and oil prices sinking below $28 a barrel. that is rattling global stock markets, we will show you u.s. futures, they are tumbling, this wednesday morning dow futures down, s&p futures down 33, nasdaq futures 84. you're watching fbn:am, first look at morning markets and breaking news. keep it here. ♪ ♪
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>> nicole: global leaders gathering in switzerland for the annual world economic forum. the survey released at the forum shows that chief executives around the world are more pessimistic about the global economy than in three years. all the latest greatest interviews and the scoop from all the folks, what are you learning there, liz. >> liz: we are high above the swiss alps here. but they are talking supposedly the theme is supposed to be the coming of the fourth industrial revolution and, you know, you have the keynote speakers here
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and, of course, that's what their speeches would focus on but in the hallways, i have to tell you, it is the markets, it is the global economy choose definitely stuck in the mud at the moment and oil as you guys have been showing this morning, below $28 a barrel, we have a lot of world leaders when it comes to pet row chemicals and all kinds of big ceos who are very anxious about that. it is the big focus, not to mention how currencies have been slammed. the brand new prime minister of canada is expect today hear this afternoon. we can't wait to hear what he has to say. canadian dollar has been hammered, destroyed by the weak oil prices because they, of course, a big commodity driven nation like russia and, of course, like chaina. that is a massive focus. this is our where we are going to go live from and while we are running around getting other interviews, i want to show you the work space behind us.
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most of the events are happening. we have cameras set up. we have our entire business crew. maria bartiromo is going live just on top of the hour as you know, anthony scaramucci, leo dicaprio spoke last night. his comments got a lot of contraction. he slammed oil, gas and coal. he has been a big environmentalist in the past. he received the cristal award, make the world a better place and he's been working for what, 15 years now with his own foundation to underscore how important it is to go natural and alternative energies, which is always a big focus here. look, you could argue if we are not so dependentan on the price of oil, perhaps our oil would not be so insecure at the moment. but, we are going to be attacking all of these issues in
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3:00 p.m. eastern live on counting to the opening bell. howard was smart enough to say a year and a half ago to go long the dollar, where is he putting his money now, he has a huge broker dealer. we are going to be talking to andrey kostin head and ceo of russia's largest bank. wait to hear about russia's involvement with syria. russia snatched crimea, huge chunk of yuik rein, the billionaire investor who two years was with twitter, if you care about your money and portfolio, you have to hear from the big-name people. i want to tell you, i'm rushing now to interview the chair of
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jpmorgan chase, the saudi arabia basic industry acts as second pet row company. they are, of course, all over the oil story. thank you in new york. >> nicole: exciting stuff. thank you so much liz claman. >> lauren: losses for the other markets as well. nasdaq 84 points this morning. >> nicole: we are going to watch some of the tech names under pressure. twenty-seven dollars and change. that's why we are seeing the big selloff. 27.64. >> lauren: that's what they are talking about in davs apparently. donald trump with a new endorsement. >> his power and passion, it's a fabric of america and it's by work ethic and dreams and drive and safe and the all mighty, what a combination. >> lauren: we have the latest reaction from the campaign trail. first it was $30 a barrel, now
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sinking below $28 a barrel and having massive ripple effects on the economy. right now you're watching fbn:am, first look at morning markets and breaking news. ♪ ♪
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>> lauren: breaking news this morning, oil prices sinking below $28 a barrel. good morning, everybody, i'm lauren simonetti. >> nicole: good morning, i'm nicole petallides. it's a sell ah, sharply shower ahead of opening bell. that's more than 2%. s&p down 30, nasdaq down 92. >> lauren: stocks in asia also selling down. sinking another 3.7% today. >> nicole: that's what we are
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watching here. oil falls below $28 a barrel for the first time in 12 years. concern about oil companies swamping the oil markets. >> lauren: donald trump picks up endorsement of sarah palin. we will have the reaction. >> nicole: shares of netflix more subscribers than expected. >> lauren: it's not the one he wants. black hawks continue to show dominance by setting a new record. all those details coming up. welcome to fbn:am, first look at what's moving in today's market, latest breaking news and what to expect for your day ahead. >> nicole: we begin with serious breaking news, gunmen storming a university in north western pakistan. police say at least 19 people have been killed. several others wounded, the taliban has claimed responsibility for the attack. back in 2014 taliban gunmen killed more than 150 people,
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mostly children at a school in that country. >> lauren: u.s. stock market futures lower ahead of the opening bell. we will show you the board now. dow is down about 30 -- 300 points. gary b. smith, you know, there's so many questions i have for you but i think the biggest one is when you look at 401k, average balance is $92,000, the market is down, so you have lost $7,500. how do you make the average person feel better now that they're $7,500 poorer in two week's time? >> gary: in that case, you always have to look long-term. if you have a child ready to go to college in the next semester you probably have taken a hit. for everyone else, you know, a
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long-term, almost every stretch of multiyear period the market is going to do fine. that's what they have to keep their eye on. they can't keep their eye on 2016-2017. they have to keep their eye on 2027. >> nicole: a lot of regular folks keep their money there and look and watch and now are somewhat disappointed. when do they start to scoop up some of the favorites? right now it feels like that panic time but things are done, 8, 10, 12%. when do you start scooping and when you do scoop up? >> gary: let me answer the first question. when do you start scooping things up? let's just assume that we talked about it on top of the hour, we feel that we are in a bare market, we are probably going to go down 15-20%. that takes us about dow 14.5 or so. that's one area to look at.
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the other area i like look at the stocks that are in bare market. you mentioned netflix, look, you, i, probably everybody in the show everybody is doing house of cards, all the shows you mentioned. i'm still paying my netflix bill, that's probably not going to go away for 99% of the people. that's a place to look. look at your favorite that is already in the bare market. >> lauren: netflix hasn't gone to china yet, huge market. the line at the apple store is always very long. favorite company brands that people love that could help the stock market. kadina group and president. we needed it, thank you. >> nicole: that's a tough job. twenty-seven-dollar line a barrel. the lowest that we've seen since 2003. it is dragging our markets across the globe. we bring an expert phil flynn, senior market analysts joining
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us live on the telephone and give us some numbers. phil, basically we are seeing $27 and change and this brings a little bit of panic into the markets, does it not? >> phil: it is, this is not reality. all of the stuff we heard about oversupply in the last couple of days really shouldn't be a surprise to anyone. >> nicole: where is it going and where should it be? >> phil: i think we should be about 5-10-dollar very easily. the thing that you have to remember with prices down in this area, it's doing damage not only to the energy industry but to the global economy. you're start to go see the rome if i can cases show up in japan, now that we are in a bare market, you're seeing in europe. if this is really a shakedown on the global economy, i think it's being driven largely by fear. the international energy agency yesterday came out with report, the world is going to be drowning in oil, you know, but those kind of comments don't
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help when you start talking about that, it creates this fear, fear feeds upon itself and becomes a self-fulfilling profit. shell is cutting jobs. just another ramification. we have seen our shell producers here in the u.s. and north america being somewhat resilient, how resilient can they be and for how long? >> phil: i don't think they're going to be resilient for much longer. we are seeing production start to go fall. i think the dominoes are going to start. you're going to see bankruptcies. major fall in u.s. production. it's going to be a lot larger than people think. i think that this recent drop is going to add to the pain in the industry. it's going to create a lack of confidence. bankers are not going to continue to fund the operations when there sunt seem to be low-and-fight. >> nicole: is that today?
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>> phil: you believe we get the american petroleum institute report today. it was delayed due to holidays. >> nicole: okay. that'll be terrible. you'll see further selling. phil flynn senior market analysts, at price futures group. we will see what that report brings. >> lauren: donald trump getting major endorsement from former alaska governor sarah palin. this comes less than two weeks ahead of critical iowa caucus where trump is locked in a dead-heat with texas senator ted cruz. >> are you ready for a commander that will let our warriors do their job and kick isis's ass? are you ready to stump for trump? i'm here to support the next president of the united states, donald trump. >> lauren: wow. in an interview sherman cane
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with his view. i think he's going to pick up some support because of sarah palin coming in but i don't think it's going to be a game changer. >> lauren: we will see. we wanted to bring you this. the oldest son of sarah palin was arrested, 26-year-old track palin is charged with assault, interfering with assault and possessing weapon while intoxicated. >> nicole: mourning the loss of a volunteer, 25-year-old bradine died in an accident yesterday, the retired neurosurgeon flew into the hospital in omaha, nebraska after temporarily suspending his campaign in south carolina. >> brayden, was an amazing young man. the thing that impressed me the most how compassionate he was,
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how caring about the feelings of other people. >> nicole: three other campaign workers injured. their van slipped. this is tough for carson and the families. >> lauren: absolutely. well, let's get you caught up on global market action overnight. in asia a sea of red. nikkei in japan down 3.7%, officially in bare market territory. 15% this year. hang seng almost down 4 and kospi 2 and a third percent. >> nicole: takia look at europe. 3% losses for the dax, the cac and ftse. we are seeing transport and bare markets as well. >> lauren: dow, nasdaq, s&p all selling off in a big way this morning. dow is down 318 points, s&p down 36, nasdaq 89, about 2% declines. >> nicole: you mention it had oil, we watched oil in the 27-dollar range.
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27.80 to be specifically. profit dropped roughly 50%. >> lauren: yeah. ibm earning fell 8 and a half percent. fourth quarter and shares are down about 5% in premarket trading. they're down about 18 and a half percent in the past year. it was a case of good news and bad news for netflix. gary b. smith likes netflix. streaming subscribers in the fourth quarter boosted by international expansion. netflix did miss target for customer additions right here in the u.s. so many people have netflix. netflix earned 2 cents a share down from 10 cents a year ago but that was better than expected. shares up almost 4% in premarket trading. that is a big deal when you are looking at the market we are looking at right now. >> nicole: you are lucky you have a new baby. you can put something on
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netflix. let's take a lock at the headlines of wall street journal. regulators tightening enforcement of rail safety rules, issues more alleged violations against amtrak and freight carriers, amid worries of shipping crude oil and hazardous chemical. they've turn today one thing they all can control and that's cost cutting. they have been done some and they will continue to do more. educators seek college admissions, more than admissions deans and educators in some of the well-known colleges and universities have signed onto this report to be released today that actually recommends ways to tone down this competitive frenzy of the admissions. >> lauren: it's tough for the kid. let's do some sports now. pete rose is getting into the hall of fame for the cincinnati reds.
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rose is still not eligible for the national baseball hall of fame because he gambled on the sport as a player and as a manager, he will be honored base his old team this summer. the weekend of honors june 24 to 26 and reunion of the 1976 champions reds. venus williams did not show to mandatory press conference. she was fined $5,000 by the australian open. this it is largest fine to a female player for skipping their press obligations. this is her second fine this year. she was fined for skipping hr press conference at the french open in may where she was fined $3,000. definition last night. campbell went 5 for 7 beyond the ark and led.
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their other win came back in december 5th. a reminder the australian open going on right now novac djokovic won his first set and currently 4-2 against frenchmen in his second-round match. see, we are bringing it to you almost live. >> nicole: love it. brutal weekend storm. the latest on this we go right over to fox meteorologist maria molina. she knows what's going on. maria, good morning. >> maria: hi, good morning, lauren, nicole, at least i have some good news. at least we will be looking at snow over the weekend, right? that's welcome news but we are going to be seeing significant impact like you mentioned with feet of snow in parts of mid atlantic and some very strong winds. right now we are dealing with very cold-windchill
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temperatures. as you head further west, minneapolis, windchill temperatures below zero. you have to bundle up. we have one winter storm right now bringing in winter weather across places like indiana, kentucky and tennessee. the higher can be 3-6-inches and because of that we do have winter storm warnings in effect and winter weather advisories. it is going to be dangerous for traveling across this part of the country throughout the day today and once that system moves east ward another one develops across parts of the southern u.s. and also the mid south. this time around it's going to be relatively warmer out across tennessee and parts of the southeast u.s. we are mostly going to see rainfall, but request it's not going to be warm enough it's mid atlantic, we will see great impacts and some of the greater snowfall totals.
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we will bring you more as we continue to see the model runs, as we get closer to the event. like you said, we could be seeing more than a foot of snow for the weekend. let's head over to you. >> nicole: the kids are hoping for snow day. might be on saturday. sorry, kids. >> keep it right here. ♪ ♪
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>> nicole: global market selloff is underway. 3% losses in europe right now. for the dow jones industrial 330 points to the downside for dow futures 37 points, to the downside for s&p futures, roughly 2% and all of this as we watch oil closely as oil moves into the 27-dollar range. right now at 27.80, lowest levels that we've seen in 12 years, that's why we are seeing
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selling across the board. maria bartiromo is live in davo, switzerland and mornings with maria starlets -- starts right now. >> maria: from the economic forum in dav, switzerland, we are looking at global market selling off a developing situation happening as we speak. in our new york studio fox business network dagen mcdowell and joe king lent. we are going to tell you what is going on in market this is morning. take a look markets in severe pressure. mayor sell off in the open a cross the world. crude oil a big story. we are expecting double-digit declines for nasdaq and s&p.
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we are now officially in bare market territory, when you look at the nikkei average in japan, dow industrials and index. it all started with the oil markets and that's once again the problem this morning. look at oil, crude dropping $28 a barrel. sits at 27.80 a barrel. of course, this has been for of an indicator of what's going on in the world as opposed to being a catalyst for people to spend the more money, the increased number of dollars they have in their pockets because of cheap gasoline. this is more of an indicater that demand is low. check out european stocks this morning. red across the board. we are seeing the kind of situation in europe that we are expecting in the u.s. at the opening of trading. you've got a 200-point decline. that's better than 3%. crack quarante in paris down 3 and a half percent, and the dax index in germany down 3%. 291 points.


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