alix: we are moments away from the closing bell. i'm alix steel. ♪ stocks shrugged off concerns about greece after voters said no to austerity demands. oil sinking below $60 a barrel. >> the question is, what did you miss? ticking forock greece, creditors turning up the heat and it's up to prime minister alexis sippers -- tsipras to devise a plan to stay

in the euro. with all the uncertainty, where should you be putting your money? we will speak to the ceo of one of the largest gas and electric utilities in the united states. weisenthal is a very late. he is in athens this evening with all the latest insights. let's get back to what happened in u.s. markets today. not a lot. au did see stocks falling for second straight day, but i one point the dow was off by hundred 65 points. we have come back from that level, briefly hitting a five-month low, but the dow bounced back. you really had energy and materials leading the selloff. in that case it was very much a risk off day. utilities were the least bad of all the sectors. for more let's get to julie hyman, who is looking at the big movers and key takeaways of the

session. julie: declines, but not huge ones. we had that big deal in the health care industry, health care insurance industry specifically. we have been talking about it for a month now and it finally happened, talking about at nine humana. edna agreeing to buy humana for $35 million. shares plunged today, humana shares gaining but not by much. i wanted to bring perspective here. shares down nearly 6.5%. being announced, also came out and said it had a larger than expected number of hospital admissions. it will put pressure on its private medicare program and potentially raise costs. that is causing some headaches for them. alix: thank you so much. our countdown clock now stands at 1371 days since our last

correction and we are days from earnings really kicking off when you see revisions into industrials and consumer discretionary stocks. a deep dive into my terminal a look at one of my favorite topics of the day. it has to do with a huge slide we have seen in oil prices. i want to point out a key level for you. 54 and eight cents. that -- we dide see acceleration to the downside, but this is really the we have seen slide an oil since november 2014. the real question on the street has been why. there has not been a good answer. it was not necessarily risk-off. in terms of irna's nuclear deal, it is not like iran will be pumping one million euros of oil starting tomorrow. oil.r did not get it like

this is leaving a lot of people on the street quite puzzled and had a huge impact entrance port, huge impact on the energy stocks. i want to get to my coanchor, joe weisenthal, in athens. standing by with a business professor. take it away, joe. joe: thank you. warwicke with a business professor. are you feeling optimistic currently about the situation in greece? do you think they can get a deal, and why do you feel that way? guest: i am an optimist. but as the day goes by and i speak to the people, people are more becoming uncertain and worried. i was sitting with a friend in a cafe and they said by thursday people will not have money to have a coffee here in this coffee shop. that is a small anecdote. i do believe the deals has to be done, the deals can be done, and

it deals should be done. joe: if you walk around the center of athens today, it felt pretty normal. there is clearly a lot of anxiety about whether they will be able to have their money in a few days. guest: they are more afraid about what will happen to the country indeed, will the deal happen, when, what will it be about, things like that. i think greeks have proven to be extremely resilient. i am amazed, surprised. i have some restrict -- respect for resilience over the years. they have been through hell. joe: people are trying to plan their businesses, forecast what is going on. what do they tell you? guest: the business community has been affected very badly. about 400 businesses have closed. greece is a country that has a lot of small businesses.

big and successful businesses in the last 10 days have been particularly hard for businesses. joe: are they able to plan their businesses? when they see banks will not be open, they do not know when they will be back open, how does a business leader respond to that? alix: things like that are badly affected and uncertain. some of the businesses are at the brink. the last 10 days are not what businesses need to survive. joe: thank you very much. guest: thank you, joe. alix: it looks like things have calmed her down there for you, but i want to replay your life hit from earlier today. joe: a deeper and more important avenue a discussion than the vote itself. concerns about the bank. [indiscernible]

alix: joe, you are a very cool customer. have you recovered? yeah, it was not a dangerous situation at all. the woman who broke up our shot was a well-known provocateur. one of the camera people warned me she was in the square and that might happen. it was a very calm situation. alix: typical photo bomber. we will see you later on in the show. joining me now, a jeffries chief market strategist. what is your base case for a grexit? a tough question. it's pretty high, definitely well above 50, closer to 75%. if it happens it will be a slow burn, i think. they will have to introduce some

thereke currency, than will be court cases and decisions of whether that violated the eu treaties or the structure of the eurozone. i think that is what we are in for. i'm coming to grips with the idea that the germans are not going to budge, they don't really need to. the french are trying to push them a little bit but that never really works out well, because they are a weaker partner. angela merkel and wolfgang schaeuble are as popular as they have been and their political careers back in germany. why would you give into greece now after all this hard work at using them to kind of tell everybody why you should not act? 75%: you're saying 50%, exit probability. why is that off -- dow off by not even 1% today? guest: we have been very

consistent in our view that this would not metastasize into something more significant in europe or the global markets. really it was unfortunate timing for greece. the introduction of euro qe was a huge deterrent to anybody that in going to effectively get front of this trade and short italian bonds or short portuguese bonds. mario draghi had a 60 billion euro bazooka he can fire at any time and he can probably introduce the s&p program or if the country got into trouble the onp program, by more. i don't see it happening. alix: you had a no doubt this morning that was one of the clearest ways a deal could get done. germany would say, we will give you money of greek depositors, you take a haircut. a this has been floated around.

you are hearing the idea of a cypriot style haircuts. the way germany would have to sell restructuring, which is ultimately the taxpayers of germany would be footing the bill because it is debt they would have to write off and germany is the largest creditor, you would have to see greeks take some pain with that. not pain in the streets, but pain financially. you have 130 million euros in the greek banking system. and then you can restructure the debt in a way that the imf discussed, a $50 billion restructuring, and you get to something sustainable. i do not think that will put greece and a particularly good position. i will say that syriza's contingent probably is not the high end of the deposit base in grace. -- greece. most of the people who voted for syriza where the young. they do not have a job.

60% unemployment. alix: we have to go. greece has dominated the headlines all day, but there's another big story you may have missed and that is coming up. ♪

front and center today, but something you may have missed, oil and china. oil prices sliding well below $60 a barrel. what happened when we had that big selloff? guest: i wish i had a great answer for you.

not an oil expert, but i have watched this oil maneuvers since 100 plus and watched it go down. martin -- part of my thinking was as emerging market slows and emerging growth picks up, there is a natural move away from commodities. that was consistent with what we saw and commodities and oil. the brazil economy is not that strong, the data comes out bad, the chinese economy is weakening. russia is not in a great place. the oil story got messed up at the bottom because demand picked up so much and surprised people have quickly the demand picked up. i guess this movie here is telling us that that demand move might not be as real as people thought and the supply is the big story, and there's a lot of supply. alix: supply and now a demand issue. guest: people got excited about growth. brings me to china.

we talked about the stock market. i have a chart here that looks at the margin trading in china, and that makes the question of is the worst really over. we see that huge run-up, it is starting to come off. if we see a lot of deleveraging taking place -- and the government can do nothing to stop it -- what happens? guest: they have tried to get everybody into an equity position and the chinese market has had these stellar returns for the last year plus, after sitting there and doing nothing for about four years before that while everything else is rallying in the u.s. and europe and japan. it is a tough story and a tough market for us to really understand because it is a deeply entrenched market and difficult to read companies. china is not the easiest place to get your money in and out of, historically.

i think this imf story with the sdr is a big deal for september. i think the government wants to push people towards an equity ownership and the emerging market index taking the chinese equities is a big deal. there is a story there, it's a very low market cap divided by have at you have got to lot of nerve to stay in this thing and traded. later.down 2.5% it's not for the faint of heart. alix: it was a pleasure to have you here, thank you for joining us. achieve market strategists, good to see you. coming up, we will head to athens. ♪

alix: i want to get to my co-anchor joe weisenthal who is standing by in greece, with the greek minister of administrative reform. joe? joe: i'm here with the deputy interior of the ministry. george, thank you for joining us. very long day. tomorrow is shaping up to be crucial. you optimistic that greece can get a deal? guest: i think both sides can strike a deal. so far this issue of debt reduction seems to be a difficult bridge to cross. your government has said he will not sign a deal that does not have it. european creditors have not shown any inclination to make that part of an agreement. how does that bridge get crossed? guest: if we don't have the debt reduction, it would be business as usual. imf has set a clearly, the

greek debt is not any more sustainable. we must take some steps towards regulating. an: how do you envision agreement being made given the strong stance of being taken by the two sides? guest: it is not just about greece. it is rather a contradiction of different visions of europe one. we have another we think they must leave some space between europe to tolerate us. otherwise, why not have a mix of economic policies everywhere? joe: there is a lot of urgency to get the banks open. today the ecb did not increase the emergency liquidity to greek breaks -- banks. does this worry you? guest: this is not easy to strike a definitive deal.

open.e had banks imagine that are banks did not have the problem of cyprus. our problems have a liquidity problem. the big shocker today was the resignation of your finance minister, yanis varoufakis. how should we interpret that move? guest: i think it was an act of dignity on his behalf. he did not want to leave any pretext, saying personal theerences that hinder agreement. i do not think this is the case. that we wanted to send a very strong signal that we are ready you canal, and interpret that as a sign of good faith on our part. joe: thank you very much for joining us. back to you, alix. alix: thank you.

we will be right back.

alix: "what did you miss?" i'm alix steel. on days like today utilities can be a popular safety trade. dominion resources is one of the largest gas and electric utilities in the u.s. joining us is ceo tom farrell. typically what do these kind of big event risk days mean to you? guest: thank you for having me. people back send into utility stocks. we still have this overlay for our whole sector, most dividend paying stocks, guilt stocks, waiting for the fed to take its action whether in september or

later in the year. alix: moving on things not necessarily our fundamentals. do have a big growth portion of your business, your the second company approved to export liquefied natural gas abroad. you are any for completion by the end of 2017, 2018. what does the low oil price mean to you? guest: perfectly understandable question for many of the lng exporters. our facility is under contracts the go until 2037. whether the shippers use the gas are not, they will still be paying for our facilities. to natural gass prices, oil prices makes no difference. we are selling at half of it through companies in japan and have a the output to companies in india. like another dividend

play, if you will. your other area of growth is a pipeline you are working with, duke energy. you are collecting gas from the marcella and utica's shales. what is the chance that alternative energy or nuclear will start to steal some of that demand from you? that is the way we try to do business at dominion, that forline is fully subscribed , four 20 year contracts. whatever is going on in other forms of energy, or shareholders are protected from whatever happens. alix: what is the likelihood that you might expand it? to expandare hoping that. it is easily expandable. right now it is scheduled to be a billion and a half cubic feet per day. it is easily expanded to two billion per day, with a little

bit more compression. alix: the third part of your business has been a successful spinoff of your master limited partnership of october 2014. i was curious as to your strategy of doing this grade a lot of companies are doing the opposite and rolling back, buy ing back mlp's. wonderful company, very good assets, great management team. they are much more mature company. i do want to speak for them, but they appear to us that there are opportunities for growing their dividend, distribution rate at a rate slowinglp down. we're in the opposite situation. ,e put out a plan in february i'm sure still available on our website delays out a 22% distribution growth rate every year between now and 2020. we have the assets to do that.

the liquid fashion -- liquefaction project will be chopped down over time. along with what we call the electric co. pipeline, the pipeline you mentioned we are partnering with duke and a couple of local gas utilities. alix: i want to flash forward here, 10, 15 years, what is the number one resource i will be getting my electricity from? guest: natural gas. alix: no alternative? guest: the primary source will be natural gas. you will be getting some from alternatives, renewables. hopefully, my opinion, you will be getting more from nuclear. there will be a mix of all. you will see a lot less coal over the next 15 years. alix: thank you so much. farrell of -- tom dominion, they give joining us. that wraps it up for "what did you miss?" joe and i will be back here

tomorrow. ♪

>> from our studios in new york city, this is open charlie rose." atrlie: we begin with a look american history. the events have revived president obama's momentum in this final stage of his tenure. the supreme upheld the health or upheld same-sex marriage nationally. a tragic killing and a black church led to a movement against a confederate ligand-the conversation about race in america. relations with hugo were formerly