All three major U.S. indices in the red on Monday, dragged down in tandem with oil.
Crude oil hit a new five-and-a-half year intraday low. Oil settled around $55.91. NYMEX trader Peter Armandio said he wouldn't be surprised if we saw $50 oil.
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Sony is fighting back: It hired famed attorney David Boies, who sent a strongly worded letter to media outlets threatening to hold them liable if they publish any more leaked data. Former Federal Prosecutor Doug Burns said that even though courts tend to favor journalists and the media, the first publishers of the leaded information could be slapped with a hefty lawsuit for publishing "stolen" information. Head to FOXBusiness.com for more on Sony vs. the media.
And FBN is closely monitoring that the details from the Australian hostage situation. So far we know that the gunman and two hostages have been killed and four people injured. The gunman has been identified as an Iranian refugee with a criminal record. Authorities believe it was likely politically motivated and the suspect could have possible ties to ISIS.
Call it a "Gilty" pleasure: Gilt Chairman and Founder Kevin Ryan joined FBN to discuss the health of the holiday shopper this season and major trends he's seeing in the online retail industry. Head to FOXBusiness.com/OnCall to hear how his company plans to get all its merchandise under the Christmas tree on time.
Now, here's what you need to watch for tomorrow: The FOMC begins its two-day meeting. FBN will be watching closely to see if the Fed drops its "considerable time" phrase. And at 8:30 a.m. ET housing starts are released.
Be sure to check out all of today's interviews on FOXBusiness.com/OnCall and tune into Countdown to the Closing Bell every week day at 3 p.m. ET.