mark: a group led by tony ressler has made a bid to buy the atlanta hawks.ale price was $730 million. that is the second-most ever paid for an nba team find steve ballmer's 2 billion dollar purchase of the los angeles clippers. let's check some of the other top stories we are following and begin with a check on the price of crude oil. it closed down about .75%. for more on the oil market and the inventory report, i'm joined by the chairman of retreat partners -- chairman of petri partners. how much of an impact's rig count having on production at this time? guest: it's clearly going to have an impact down the road. we have seen two consecutive months of a modest decline in north dakota but the amount of variation there is more a function of how many wells are being completed versus how many rigs are running to drill new wells. the big impact from drilling and lower drilling activity is going to come third quarter fourth quarter of this year. maybe next year. mark: west texas intermediate reversed losses today, after they said stockpiles at the biggest oil st

a group led by tony ressler winning the bid for the nba's atlanta hawks according to a person with direct knowledge of the matter. the sale price was $730 million the second-most ever paid for an mba team, behind steve over par's purchase of the los angeles clippers. the person requested anonymity because the sales process is tried it. we have less than an hour to go until the close of trading. scarlet fu has an overview of the trading. scarlet: you have u.s. stocks within spitting distance of a record high. .5% shy of matching it personal best set on march 2. the earnings we will be bringing you after the close -- facebook qualcomm and ebay -- a little positive momentum heading into the earnings release will stop for facebook profit is seen rising to $.40 and sales are set to increase to just over $3.5 billion. add revenue is seen to increase with mobile ad revenue making up 72% of the pie. for qualcomm the big issue will be about margins going forward because of pressure from rising cost and the mature market. we are still looking for earnings per share of six point $2 billion. some kin

tony ressler is said to be in a bid to purchase the atlanta hawks.nd form of -- ahead of former nba all-star grant hill. we have breaking news. our chief washington correspondent -- scarlet: i could not be the chief washington correspondent if i try, alix. [laughs] this is for etsy, so if you want a knit hat with a cat on top of it, it is said to prices ipo at $15 per share. that is enabling it to raise $267 million in its ipo. esy looking to price its ipo at $16 a piece to raise $267 million in its initial public offering. have you ever bought anything off of etsy? alix: i have not, but i know they cater to smaller handcrafters, who are worried that it will raise their costs. scarlet: and bring in other merchants they do not want to compete about. alix: exactly, you just heard leslie picker talk about 80 takeover not out of the realm of possibility. scarlet: whether it is along the line of an amazon, an ebay, or a google. we will see. alix: all right, scar, thank you so much. in many cases, back to sports layers go from starring to failing in the fi