all right. you are looking at a live shot of the port of new york and new jersey where workers there and at ports along the east coast and gulf coast are heading back to work after reaching a tentative labor deal ending their three-day strike that means billions of dollars of goods will start thflowing through the course of america.

good morning thank you for being with us. i'm dominic chu and we're looking at the breaking story on the east coast and gulf coast ports across america let's get out to frank holland who is in bayonne, new jersey, where workers will be back on the job this morning frank, layout the details of the agreement. it is tentative, but a deep framework in place what are the big broad strokes of the deal? >> reporter: good morning, dom let's start with the basics here the first strike of the east and gulf coast ports are nearly over the port operators and ila reached a deal on wages. they will negotiate on other matters until january 15th the biggest of other matters is the use of automation at ports the union has been vocal about the opposition of automation and

featured on the signs at protests here in new jersey and other locations all around the country from maine to texas. remember, cnbc spoke with ila president on the first day of the strike on tuesday. he said then the union was looking for a raise of 61.5% over the next six years of the contract we have not gotten final confirmation of the final wages. we will reach out for more clarity. the use of automation, is a big sticking point, as they hammer out a permanent agreement. a tentative deal until about january 15th for context here, about 4% of ports are automated or semi automated. that tentative agreement on wages has been reached workers will go back to work today as they negotiate more matters. key to this is automation. we are getting insight how this

strike was ended we have sources that we're familiar with the negotiations telling cnbc key details here. just about 24 hours ago at 5:30 a.m. thursday morning, jeff zients and transportation secretary pete buttigieg and lael brainard met over zoom to discuss the ports. we're told those officials together pressured to make a deal before the end of thursday and promised to get the ila back to the table the officials met five times to get to the strategy to lead to the tentative deal that was reached in the late afternoon on thursday we will hear from acting

secretary julie su live on "squawk on the street " here on cnbc in the 9:00 a.m will this create those supply chain issues we have been so worried about and will it have any impact on inflation? a lot of things could happen here the estimates vary the estimates on the negative impact to the economy is estimated to be just over $4 billion a day for every day of the strike this is a three-day strike estimates also vary, but generally, the consensus here is for every day the port was closed, there's about a week of port congestion and backlog that has to be worked through i spoken to a number of analysts and economists saying this will raise prices during the holiday season and has the potential to respark inflation. shipping rates into the west coast ports to get around the

disruption, those shipping rates have moved higher for now and those shipping rates will be higher going forward a lot to unpack here, dom. we have been in contact with the white house and ila union and we have been in contact with the usmx the two sides back from the negotiating table and workers back to work at the port of new york and new jersey and other parts around the east coast and gulf coast all the way from maine to texas back to you. >> frank, is there any indication now things are getting back to normal and people are going back to work? just what kinds of goods are still on these port facilities and what is likely moving first now things are back to work and back to business as usual? >> reporter: you know, we haven't had any indications from the port just yet what well move forward. we have a general sense. we know parishables.

we talked to a supermarket chain. they don't have shortages. a lot of fruits we buy and produce comes in from other countries. a lot of that is here on the docks. other than that, we know there is a big business with aerospace and business with the automotive business and big business with pharmaceuticals. a lot of these things are here and will need to be moved. you will imagine a number of consumer goods for the holiday season as well in addition to spirits. the trade group for the spirits organizations and spirits businesses they say a lot of their business is here. a lot of businesses export and with christmas and hanukkah, a lot of big time moves for that we will get more clarity on what is here and what will move first. >> frank holland with the latest on the ports getting back to work here in america and on the

east coast frank, we will watch you throughout the day from bayonne. see you later on >> reporter: thank you >> as frank mentioned, we'll have more on the tentative deal -- tentative deal, with the acting labor secretary julie su at 9:00 a.m. on "squawk on the street." let's get to the other deal. the big monthly jobs report. ahead of the jobs report, markets are just about flat. the s&p is up two points implied at the opening deal. the dow jones off 44 and the nasdaq up 20 points. the markets are set to close out a choppy trading week with all three in the red for the week snapping the three-week winning streak so far. the dow jones, s&p and nasdaq all just about .75% to 1% lower on the week-to-date basis.

let's get a check on the bond market yields are showing a move, but not a terrible amount of it ahead of the catalyst. the ten-year yield is 3.84%. the two-year yield is 3.7%. oil is set to close out its best week since march of last year on continued middle east risks. right now, u.s. benchmark west texas intermediate is up .75% to $74.24 ice brent crude is $78.24. crude did spike yesterday following comments by president biden on potential strikes on iran's oil facilities. >> will you support israel striking iran oil facilities,

sir? >> the president will not negotiate in public when asked if he urged israel not to attack iran facilities. take a look at the top u.s. energy companies in the market exxon, chevron, conocophillips, marathon and phillips all higher in the pre-market session. let's bring in our guest here now. mark, we just wept tnt through t with the ports getting back to work and the jobs catalyst coming up and everything with the middle east prices how do you craft a strategy amid all those concerns >> there's certainly enough going on first, i hope we get payrolls in today at 150,000 mark. that will give a bit of relief to markets knowing the economy is on track to a soft landing

and some people mentioning the word goldilocks. the fed will cut interest rates and bring us to a solid economy for markets to move higher when it comes to the middle east, that was the big negative news causing oil surprices to spike. i think the ruisk premium can go higher with brent hitting 87 by the end of the year. little bit further room to run here when we are crafting strategy for clients, we are thinking through the environment where we think about the goldilocks environment in terms of the economy and also heightened geopolitical risk. w we can lean into equity markets, but hedge around oil and gold that we think will move upwards in this environment. >> mark, the big catalyst this morning, of course, is the

all-important jobs number. we don't have a fed meeting necessarily this particular hundred, but a lot of folks are looking for the rate trajectory in november and december what exactly is the scenario analysis that you go through for how exactly you plan out what it's going to look like in terms of possible cuts in november and then in december what would you need to see or not see in today's jobs report that would make you feel that you need to change your models >> so, first of all, we have two 25-basis point cuts for the remainder of this year for november and december meeting and another 100 basis points of cuts during 2025 we think that is a trajectory that's good for the overall economic environment i would say from we're coming in significant below that, the good news is the so-called put it's back and the fed would get us close torr to the neutral ratesa 2.5% to 3% fed fund rates.

that will provide a bit of s stability to the markets the roaring '20s with the a.i. and the u.s. economy growing at a faster pace than we projected. this is the world where the u.s. exceptionalism is likely to continue and the favorite markets like the u.s. and tech and financials, we think, will continue to do well. >> mark andersen at ubs, thank you very much. have a nice weekend. >> thank you let's see how europe is shaping up as its trading day suis under way. we have carolin roth with the latest across the atlantic good morning >> good morning, dom right now, two hours into the trading session here in europe on friday morning, we were mixed. look at the ftse 100 taking some risk off the table here the dax is higher to the tune of

0.1% some respectable gains for the italian market. if you look at the performance of the course of the week, the dax is down 2.5% the italian market is down 4%. why? is autos impact with the cut guidance and the issues in the middle east. i want to show you the best performing sectors here. oil and gas is doing well up 0.9% given the 9% spike in oil prices here the areuropean oil and gas sect having the best week in six months sector losers look like this this is the picture. we're seeing media and household goods and health care under fore performing on the back of the shipping strike, we see maersk down a whopping 7.5%. dom. >> carolin roth with the early market action in europe. thank you for that

we have more to come here on "worldwide exchange," including the one word investors need to know and fresh tub lrbulence on spirit airlines. a choppy quarter, but have no fear. citi has the top picks that are set to takeoff in the final few months year. and later on, former vice chairman roger ferguson tees up the jobs report and the impact it has on the fed. we have a very busy hour still ahead when "worldwide exchange" returns after this commercial break.

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welcome back let's get a check of some of the mornings morning's corporate stories with silvana henao. >> good morning, dom not a good morning for spirit airlines which are hitting an all-time low after the wall street journal reports it is in talks with bond holders on the possible bankruptcy fueiling. the stock is down 90% it this year in the pre-market, it's down 40%. this after the merger with jetblue failed and spirit struggles with mounting losses of $3 billion of debt payment coming due, the journal says the

bankruptcy filing isn't imminent spirit hasn't turned a profit since before the covid pandemic. cisco systems is close to investing in coreweave valuing it close to $23 billion. coreweave has partnerships with several a.i. startups and rival cloud firms to build network coreweave declined comment. exxonmobil expects third quarter earnings took a hit of up to $1 billion due to lower oil prices crude prices some 15% in the quarter, the largest quarterly decline in a year, all on worries of global demand in a regulatory filing, exxon signals weaker refining signals weaker profits it has been hit by softer demand, especially in china, dom.

>> silvana henao, thank you very much for the headlines see you later on. ahead on "worldwide exchange," citigroup is laying out the playbook to prosper in the fourth quarter the stocks that could boost your portfolio and the mag seven member that is up 75% this year. the name in that mystery chart when "worldwide exchange" returns after this break are l. ameriprise financial. advice worth talking about. at betmgm, everyone gets a welcome offer. ameriprise financial. so whether you're courtside trying to hit the over... or up here trying to hit the under. whew! or, hitting that win with your crew. ohhh! yes, see defense! or way up here with a same game parlay. yaw! betmgm's got your back. get your welcome offer.

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stocks that are in the best position to out perform in the next few months. for the top picks, let's bring in drew pettit drew, let's go through the names because some have to really stand out for you to call them the top picks. take us through what they are and what makes them such appealing picks going into the first quarter of next year >> dom, thanks for having me look, let's start with the overall market view. we think the index is pretty fairly valued at this point. look, i think the trailing earnings just over 23 times and an index that just exceeded our target means we need to dig through the surface to find the stock picks. the three i look at this morning are meta and lng and on the value side is united air >> okay. let's go through each of those

first, let's talk about the mystery chart. meta platforms i believe it made mark zuckerberg the second richest person in the world behind elon musk at this point let's go through the meta thesis it's already up 65% so far this year why is it up for more gains in the final three months of the year >> so, just like its industry group and sector, while the stock has run and expectations are high, they are attainable when you look at estimates one, two and three years out. so, this, honestly, on top of potential any economic weakness, we think the secular trends really hold here that should help drive this stock forward. from our analyst perspective, engagement is up on the platform some of the early a.i. investment is really helping with return on advertising spend

and then on top of that, you are actually seeing continual operational improvement even though we're in an investment year i think that's really key because going forward we want to see platforms like this have operating leverage >> that's the meta story let's go through the lng it is well off the highs from last few years it has seen a nice run as of late why lng? >> energy in general is well off its highs. this was a contrarian overweight for us heading into q4 we really think there was nothing priced in for energy stocks in general. the markets really don't expect much out of this for a lot of the sector, you are starting to see margin improvement as well. lng is a dominant natural gas exporter we think it can double its u.s. footprint and our analysts think 2024 ebitda dguide and estimate

are not too low. it might not be a high quality name versus some of the growth stocks people talk about all the time, but a quality improver again, that's important on the cyclical side of the market. >> drew, we have a few moments left i want to get through the last quickly. united airlines. why? >> so, we just upgraded transports i think this is an interesting thesis here. a lot of companies have fundamentals set to stabilize or not inflect higher when you look at ual, it is still way down this is a value stock. trades at single digit pes the unit revenue is set to move higher and has dpgreater share than pre-pandemic. that gives us more free cash flow versus the street and versus guidance. earnings for this stock is much

stickier than it used to be. >> drew pettit, lng and ual and all the ones about meta platforms. thank you very much. have a nice weekend. as we head to break, tesla shares coming off the back of the declines that miss expectations and cyber truck recall the stock is on pace for the worst week since april. cnbc is celebrating hispanic heritage month this week here is the chief supply chain officer on his message >> what i want businesses to know about my community is just how to tap into the passion around the culture and the relationships. the spending community is deeply engrained in this and there is deep excitement which will lead back to the business success

let's say you're deep in a show or a game or the game. on a train, at home, at work. okay, maybe not at work. point is at xfinity.

we're constantly engineering new ways to get the entertainment you love to you faster and easier than ever. that's what i do. is that love island? all right. what you're seeing there is a live shot of the port of new york and new jersey and workers are heading back to work after ree reaching a tentative labor deal after the strike that means billions of dollars of goods will start to flow into the american economy good morning thank you for being with us. i'm dominic chu in for frank

holland who is covering that story. let's get right out to frank in bayonne, new jersey, not far from here where workers will get back to work this morning. frank, can you layout the details of the agreement it is tentative in nature, but the pay has kind of been established. take us through the big strokes of the deal. >> reporter: good morning, dom i want to point out over my shoulder the cranes are still up. they are up in the air we mentioned that earlier this week when the strike first happened they are expected to get to work later on this morning. the first strike of the east and gulf coasts is over for now. the long sshoremen strike appea

to be over the union has been highly vocal about the opposition to automation its has been featured on signs at union protests in new jersey and other locations all the way from maine down to texas cnbc spoke with ila president on the first day of the strikes on tuesday. he said then the union was looking for a 61.5% raise over six years of the contract. we have not gotten confirmation that was the final number reached on wages we will reach out for more clarity. you see me talking to him there. 61.5% over the next six years. the use of automation is a key sticking point as they try to hammer out a permanent agreement. just for context, 4% of ports globally are automated or semi automated. 4% to 5% a tentative agreement on wages have been reached. union workers are expected to go back to work from maine to texas

and both sides will continue to negotiate. i can't emphasize this enough. key is automation. we are getting new insight how this deal was reached to end the strike in the east and gulfports in nearly 50 years according to sources familiar with the matter, they are telling cnbc at 5:30 thursday morning, 24 hours ago, white house chief of staff jeff zients and julie su and pete buttigieg and the director of the national economy council lael brainard met over zoom to discuss the ports. we are told the officials pressured usmx to make an offer before the end of thursday they promised to get the union back negotiating table they meet five times on thursday to finalize a strategy to reach

to the tentative deal that was reached in the late afternoon and evening thursday we will hear from julie su coming up at 9:00 a.m. eastern time will the expected supply chain issues have any impact on inflation? let's get back to the first question estimates vary on the negative on the back to the economy in the strike it is estimated to be $4 billion a day for every day of the strike estimates also vary here, but generally there's a consensus. for every day of the strike, there's expected to be a week of port congestion and backlog. i have spoken to economists who say the strike will lead to higher prices for the holiday season business owners have told me they shipped to the west coast ports and they have seen higher rates there.

they have been told to expect higher rates through the rest of q4 dom, we are waiting for the cranes behind me to get going. that is the sign that workers are absolutely back totative agt wa wages have been agreed to. 61.5%. we will try to confirm that other point is the automation at ports from maine to texas back to you. >> that is something a lot of folks on wall street are paying attention to you mentioned higher shipping rates throughout the course of the fourth quarter one of the things in the european trading is the european companies are seeing stocks with huge declines this morning some on fears of lower shipping rates with the ports back open again. why the disconnect >> reporter: one thing i want to be clear rates are already lower. they are off the highs of august and september. september, we saw air freight

hit highs. august, we saw ocean shipping hit its highs. that was a lot of retailers and other companies pulling forward goods earlier than previously planned to do. especially the retailers for the holidays the stat we put out there that 80% of holiday goods we're here in the country a lot of the companies started bringing things in earlier that led to a spike in rates then now we have started to see a normalization the last few days because there's not as much demand just to your point, a lot of the container shippers saw a pop when this disruption first happened maersk as well not only is it on the idea the rates will normalize, but not able to charge the surcharges they appeared to charge because of this disruption again, things seemed to be basically settled, at least until january 15th, when it comes to the ports

there's a sanguine mystery a lot less mystery now when it comes to this issue tentative deal up to january 15th. dom, we know what's not on the ports for everybody's edification. toilet paper and paper towels. that's not here. that's made in the u.s dom, back to you. >> i have to tell you, my local grocery stores and costcos saw no shortage of toilet paper this time around. frank, i know you have followed this story from the beginning. >> reporter: dom, people were out rushing to buy spirits from my understanding, i did speak to one liquor store owner, he said plenty people are buying. we see priorities. toilet paper and spirits >> frank holland, thank you very much for that. we will see you throughout the

course of the day. let's get to the markets the other big event is the monthly jobs report. we have much more on that in just a moment. checking futures we are just in a wait-and-see mode dow implied down 30 oints. the jobs report is due out at 8:30 a.m. eastern time that is sis expected to show 130,000. the unemployment rate is expected to hold steady at 4.2%. the numbers well likely be key to the federal reserve and just how aggressive or not it can go with potential rate cuts moving forward. for more, let's bring in roger ferguson, former federal reserve vice chairman and gunjan banerji. they are both cnbc contributors. ro roger, i'll start with you just how particular is this jobs number given the jumbo sized number we have gotten to kickoff

a cycle of rate cuts >> i think this number is going to be one of several that will be important the fed has said it is data dependent, but not data point depe dependent. this will factor into the decision in november markets will focus on it, obviously. it may lead to volatility. i would say overall for the fed, this is one number to look at with others coming along they will also be in a wait-and-see mode. >> roger, can you take us behind the doors? what does this conversation sound like fromme fed chair jay powell to the board with the labor dynamic and inflation given everything we've seen with the ports? >> look, i think you heard chair powell talk a little while ago he clearly was indicating to me,

at least, 25 basis points as a cut, is the base case. i think he said clearly we're not in a rush and we heard it that from a few others having said that, we know they are willing to move higher and the decision is not yet made i think behind doors, basically, it's wait and see and this will validate the market is the labor market coming into balance i think they know there are many other data points to come as well i think watching closely, but not in the position to even start to pencil numbers other than the 25-basis points as the base case. if there's a major surprise and this one will factor in, but you need more than one surprise to move them off the base case of 25 basis points. >> speaking of surprises, gunjan, the markets seem to be holding rather steady, kind of near the all-time levels is the market right now

expecting volatility given this particular jobs report if so, just how volatile could it be? >> the message from the market is really buckle up for today's jobs report. throughout the week when i had been talking to traders, they say they are watching for this morning's release for clues on the labor market and economy is headed we have seen mixed data. i think this is evis evident in options market where they are moving 1% for the s&p 500 and 1.9% for the russell 2000 which, of course, tends to be more sensitive to the economic data releases and the economy ups and downs. i think the expect tations are high >> let's talk about the small caps trade which is part of the broadening out of the thesis of the market why the volatility and just how much are people expecting? you mentioned the moves for the small caps 1% up or down.

1% for the s&p is that better or worse than we've seen in recent history >> it is really interesting. for the s&p 500, the 1% move is above the moves we've seen for the broad stock market index and jobs market releases over the past year. when you take a look at the russell, it's interesting because you hear about the broadening out and soft landing trade that's swept markets the russell is down since the federal reserve cut rates a few weeks ago. it's down around 2% and the s&p 500 has risen. that is showing you there is fear creeping into the market about the strength of the economy. we've seen disappointing manufacturing data and strong jobs data. it really has been a patchwork of mixed signals out there of how the economy is doing. >> roger, we'll give you the last word here as you look at the balance of data coming through with the inflation story and weakening jobs story, which one in your mind, in your opinion, is the

one that needs to be the real focus of the fed right now >> oh, for sure, i think it is the labor market story you know, they're positioning this as a labor market as imbalanced and where they like to keep it that's real i a story. having said that, you know, what we saw in terms of potential wage settlement with the dock workers on the east coast does suggest in the weakening labor market, that could lead to flare ups here and there in terms of pricing. i think labor market and expectations of cutting are the primary story. inflation itself is not completely dead and some of the factors could still play in. >> all right roger ferguson, gunjan banerji, thank you both for a wonderful conversation we need more time for these. have a nice weekend to you both. coming up, d.c. looking to further turn up the pressure on boeing the lawmakers demanding what

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right now, we're watching shares of dow component boeing a pair of lawmakers are criticizing the deal boeing struck this summer democratic senators elizabeth warren and richard blumenthal

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welcome back the aftermath of hurricane helene continues to grow with hundreds of thousands of residents across the southeast trying to pick up the pieces with future storms expected to intens intensify, we have new rules in place. we have diana olick with more on the story. diana. >> reporter: dom, in short, losses for helene are estimated at over $6 billion the uninsured losses are far, far higher in north carolina, the vast majority of flooded homes did not have flood insurance they have never seen that flooding before and not in fema flood zones. if they had a government-backed mortgage, they would be required to have flood insurance. first street, the climate risk street that put scores on realtor.com introduced a suite for every property on zillow

on this houston home, you see climate risk for flood, fire, wind, air and heat if you click on it, you see the percentage risk now and 15 and then 30 years from now the data factors in climate change and increased severity of rainfall over time this listing says flood since is critical you can click through the factor report which will estimate the insurance cost we put this property in the fema portal and it is not in the fema-designated flood zone >> a lot of people think they're safe from flood. that is decidedly not true heavy rainfall can affect many, many people across the country and there's no indication from the fema flood zone designation that say ris a risk for you. at first street, we bring in the flood maps >> reporter: that's according to

the recent report from zillow. it is important to them, dom >> now, the interesting part about this, these new risks, the scores will affect home values and prices >> reporter: absolutely. no question. look, if you are shopping for a home and see if the home has a high flood score or fire score, something you will have to ensure against which is a cost, especially for flood insurance because the costs are rising ex exe exponentially. it is already changing prices for homes in risky areas the more people know, the more knowledge of the costs, the more they will factor that into what they're willing to spend on a home >> diana olick with the rising risks for home prices and real estate amid climate change anyove mh.thk u ryuc see you soon. coming up on the show, despite a rocky week of trading, why our next guest says optimism is alive and well within the

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welcome back the markets are in a holding pattern ahead of the non-farm payroll report which could provide clues on the interest rates. joining me now is kari firestone

of aureus management good morning, kari let's start off with the overall macro market narrative is this one you feel can be really affected by the jobs report today no matter what it says >> hi, dom great to see you, too. yes, of course, if the jobs report is very different from what was expected. if we have a low number or even a negative number, it's hard to believe. yes, you could have the market be scared that who knows what's going on in the economy. the economy right now is leading the market it's good news and good movement in the market. we want the numbers to be recently good. gdp to go up and this landing to not start crashing if the number is way too high, then we will worry whether the fed will keep lowering interest rates. that's unlikely. the back drop is inflation is coming down and the economy is

recently strong. we are not in a recession. we know that interest rates are on the decline so, that's a nice set up for this fourth quarter which is supposed to be a strong one for earnings. >> sure. seasonally strong for the markets and stronger for ear earnings the economic back drop is okay all of those things should be bullish. my question, kari, is the broadening out trade continue? should we be focused on value parts of the market which has of late, anyway, out performing >> exactly that's why my word of the day is dimension. we think that the dimension of the market really has been shifting outward the breadth is shifting. we have seen it over the last quarter. the s&p has seen 490 names below the top ten which sell for under 19 times next year's earnings

have made a move they were 18 times now they're 19, but they're still way below 26 times for the top ten which represent 34% of the weight of the market that's come down as we have seen industrials and healthcare and utilities. a real broadening. there is value in that part of the market they have to continue to show earnings growth, but it's 490 names versus ten that is critical for the market to continue to go higher. >> if that is the case, and you need that broadening out to continue, what key parts of the market are they value or growth -- what key parts are you seeing what benefits the stock market the most in the tailwind environment? >> dom, as you know, we're more growth investors and if the economy is growing, then we believe that growth is really going to continue to carry this

trade forward. it is not hyper growth it can be industrials. we own a company in the industrial they do rental equipment they will help in hurricane helene ford is breaking itself up similar to general electric. all sorts of capital products and technology products. it can be financials names like health equity that's a health saving company american express we like on the healthcare side, we like abbott because the test equipment and devices are really showing dprgrowth and some of te problems they had in the last couple years we feel will be minimized this year. if you are a stock picker, you look for ideas in different sectors. it can be consumer discr discretionary. even a name like amazon can benefit from consumers having jobs and spending more and the retail trade has not been great,

but it is starting to pick up. >> kari, a couple of seconds left here. is the consumer healthy? >> we think the consumer is basically healthy right now. >> kari firestone. thank you very much. have a nice weekend. see you soon. that does it for the markets here the big jobs report coming up. the dow in a holding pattern keep it right here "squawk box" picks up the market coverage have a nice weekend. good morning, the port strike is over for now after workers agree to a tentative deal we'll take you live to the docks on the waterfront for a look at what happens next. spirit airlines shares are plunging after a report saying the company is exploring a bankruptcy filing. and it's jobs friday we get you ready for the september employment report and the potential impact on the markets and the fed and the election it's friday, october 4th, 2024

"squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. and this morning you are looking at a mixed picture for the futures market dow futures are down 12 points s&p futures up 9 the nasdaq up 51 the treasury market this morning also looking like yields are higher ten-year at 3.85 the two-year at 3.71 the crude oil market is where people are paying attention today, joe >> crude prices rose 5% yesterday. it took a leg higher after this comment by president biden t