jackie deangelis with the story. jackie. >> good evening and thanks, melissa.de oil taking a dive in today's session, down roughly 4% after those reports that you mentioned that the saudis said there will be no deal resulting from next week's informal meeting in algeria. energy funds i spoke to are not that surprised by the news, as this isn't really an official meeting, but crude prices have seen support from the "what if" factor surrounding next week's conversation. more signs in the last few weeks that the cartel is fragmented, but the saudis have the most influence and if they want to freeze or don't want to freeze, it really is likely that opec will go with them. more commentary about prices dipping back into the 30s if there is no action, as well as supply will continue to outstrip demand and rebalance of the street is called for in the back half of the year will be much slower than anticipated. these meetings can create market volatility. this one is three days long with the decision, if any, expected on wednesday wants that's what's to watch for. meliss

for "nightly business report," i'm jackie deangelis. >>> the biggest and most influential names in businessnvesting in policy had some warnings for investors today as they discussed the health of the economy, interest rates and the direction of stocks. they gathered at the delivering alpha conference, presented by cnbc and institutional investors. an tyl w >> today at the delivering alpha conference in new york city, policy makers and the portland's top investors came together to share ideas. the day began with treasury secretary jack lew commenting that while he thinks there is ample time to get the tpp, the transpacific partnership, through congress, before the end of the president's term, he sees a less bright prospect for any progress on tax reform. >> the political environment is not one where it has been ripe to take up something like this. but the ideas that we have been promoting will be the foundation for action in the future. it takes a desire on the part of congress to do something hard. hard things don't happen unless there's a real, real desire to do it. >> on the investment fr

we're glad he's going to bring them to your show. >> perfect. >> jackie deangelis.ext up, the iconic conference, the ceo of 2929 entertainment talking tech, charity, and the election. todd wagner joins us next. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. >>> when he's elected president and kid rock becomes secretary of state, are you going to move to canada? or one of the arctics? >> i will stay in the united states. >> and what would you try to -- >> i'd try to prevent him from destroying the united states. >> well, this has been a lot of fun, mrs. clinton. we should stay in touch. what's the best way to reach you? e-mail? >> you've got mail. >> yep, that w

i'm jackie deangelis. commodities have seen a lot of volatility this year, but there was one trade that has some pep in its step. no surprise, that's coffee. coffee futures are up about 20% year to date, but seeing a 2% pull back today. the story here is all about the crop in brazil. a terrible drought holding back growth of coffee beans and spiking those prices. estimates suggest brazil will see 2006 with yields, right now, there doesn't appear to be relief in sight. a prolonged drought could put next year's crop in jeopardy as well. it's the beginning of the season and without enough water, the plants won't recover even if it started raining today. a little context here. brazil is the world's number one producer followed by vietnam, where there have been issues. so coffee futures may just have a little more buzz. back to you. >> thank you, jackie. of "futures now" fame. carter over there, you say there could be trouble brewing in one of the stocks, which one? >> i suppose there is only one if you think a

jackie deangelis, we had a little push pull with john there a moment ago about the magnitude of the cutnumber, they don't tell the truth all the time there is third party sources, it is a little over 33 million, correct? >> that's correct. actually the last monthly report from owe peck for september showed the output to be 33.2 million barrels a day. if this reuters headline is correct and they take production to 32.5 million barrels a day, we're talking about a roughly 700,000 barrel cut. what is interesting here is that most traders were discounting this. they don't see it as a cut at all. they're still saying you're close enough to record production that it doesn't make a huge difference and there is so much oversupply out there right now. they're not really internalizing it that way. you can see the market did take this to move more than 5% today. michelle asked a poignant question, who is getting in here, who is buying? it may not necessarily be that people are buying ragt n ining . the last commitment of traders report showed a 30% spike in short positions because people were not

as jackie deangelis reports, that could prove costly temporarily in some parts of the country. >> reporter: part of country's largest fuel pipeline, the colonial pipeline, has been shut down. it delivers gasoline to more than 50 million americans from re refineries. a leak that started september 9th prompted the shutdown, which is expected to be resolved next week. the disru has been seen in gasoline futures market. prices rose 7% last week even as the om 6% in the same time peri. that could translate into higher prices at the gas pump, at least temporarily. seasonally, this is t time of year that experts expect gas prices to decline as summer driving season pulls back. in fact earlier this week, estimates were for a 5 to 10 cent short term drop. but a prolonged transportation disruption could have the opposite effect, causing a 15% spike in some parts of the east coast, including atlanta, the carolinas, and virginia. >> gasoline is getting to a level i thought it belonged. gas prices, probably if nothing else will come back a little. but they've been so depressed for so long, i don't thin

jackie deangelis at the nymex with the futures now traders. what's going on, jackie?> we're trading over $47 a barrel. that was after the department of energy indicated that we saw more than 14 million barrel drawdown in inventories. this is supporting the trade here. did we go higher? >> it seems like we do. the momentum is to the upside. what we saw that took place on labor day and the trading day afterwards, huge amounts of volume that took place in the russia-saudi deal. i think there's more momentum. the oil volatility index doesn't really necessarily indicate that we're [ ing out of any sort of range, but certainly looks like 48 if not $50 is in the cards. >> we discussed this earlier and you said maybe it's time to fade the rally. explain. >> absolutely, jackie. this is an anomaly because we had a storm last week in the gulf, so 25% of the oil production was shut in. we could get a same number to the upside next week because that is coming back on the rkt ma. so i want to fade this rally closer to $48. >> more on oil online at the top of the hour. we're talking

let's send it over to jackie deangelis with the eia inventory report. g to you, sue. that's right. we're waiting for the numbers on natural gas from the department of energy looking for an injection of $5 -- 59 to 63 billion. that range would be slightly under what we saw this time last year, slightly under the five-year average as well. while we're waiting for the number to come out, you can see prices are trending down this morning just a little bit here. and the department of energy actually saying that we got an injection of 62 billion cubic feet, so right in the range that i mentioned. and you can see the prices getting a little bit of a lift at this point but in terms of the natural gas trade remember this we're up 10% in one month 22% year on year. there's been some enthusiasm for this trade but total stocks are still in really good shape ahead of the five-year average as we head into the winter so the enthusiasm to push nat gas up to $3 not really there right now. we're going to have to continue to see how weather shapes out and how demand shapes

back to you guys. >>> thank you, jackie deangelis.ew york owns more than 10 million shares of wells fargo in pension funds coming up. the comptroller who runs those funds just releasing a list of demands for the company including clawbacks. he joins us next. >> announcer: the cnbc trend tracker live data board is brought to you by the cme group. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. announcer: they'll test you. try to break your will. but however loud the loudness gets. however many cheese puffs may fly. you're the driver. the one in control. stand firm. just wait. [click] and move only when you hear the click that says they're buckled in for the drive. never give up till they buckle up. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ >> announcer: today, cnbc in boston for

now over to jackie deangelis with the latest eia inventory report. jackie. >> good morning to you, sue. thank you, the eia out with weekly inventory record, drawdown of crude inventories little more than half a billion barrels last week and we had a build in gasoline of a little bit more than half a million barrels. bit of a mixed report, but you can see losses in crude oil are paring this morning. traders were looking for a build this week after we saw that 14 million barrel drawdown last week. so we're balancing out a little bit in the marketplace here getting closer to that $45 a barrel mark. but traders it witelling me we' going to gravitate to that level until we see the next catalyst. you can tell from this number last week was an anomaly. back to you. >>> thank you so much. volatility as you know the past several sessions is back, stocks rallying this morning though dow's up almost 90 points after the selloff yesterday. session highs. ubs director of floor operations art cashin joins us once again onset. art, good morning to you. >> good mornin

jackie deangelis.liding earlier today, but obviously the dow's gone positive about 38 points to the upside. jim tyrnie, anthony chan, good to see both of you. somebody said over the weekend it's the first time in a while 2% has felt like 20% on friday. but did friday undermine your confidence in equities? >> not at all. i think friday was just a long overdue day. we had had 50 days of almost no volatility. there will be more volatility. but it's all about where are earnings going to be over the next few months. and into 2017. that's the key for equities. >> and the answer in your view is? >> better. third quarter earnings should turn up, fourth quarter should be really nicely positive. and we're looking for growth in 2017. >> we had lockhart this morning say second half 3% annualized, are you that bullish? >> not so bullish to say 3% plus but earnings will be better than first half of 1%. for volatility some of the work i've done shows the vix index does move higher and beats october that number was ju

i'm jackie deangelis with the futures now traders. we're talking nat gas, a drop of 2%., where are we backing off the critical $3 level? >> we're falling in sympathy with crude oil. the november contract is a bit of a dead zone, won't get a lot of support from electricity production or home heating and we're now falling back towards the 50-day moving average. we're still above all the important moving averages, but the 50-day moving average would be the next level. that level, $2.805. >> would you be a buyer of nat gas as we head into the winter season and the injection the other day, nearly half of what we saw this time last year. >> this is the weaki isest time. until about mid-october is the weak season for natural gas. however, you get a 2% move along the trend line, upward trend for the last few months, i think it would be worth taking a shot here. i'll think that upward trend is broken if it trades below 2.8 and feels comfortable there. right now, probably would take a shot. >> for more futures, head to the website, futuresnow.cnbc.com. the live show on tuesday at

back to you. >> thank you, jackie deangelis.ff is holding first right now the dow jones industrial average is down by 300 points, 1.6%. nasdaq composite down by almost 2%, the s&p 500 losing 41 points on the day. let's get to bob pisani on the floor of the new york stock exchange. there's some real damage being done, bob, to certain sectors. home builders for one down more than 4% in today's session. >> yes, interest rate sensitive. so the fed eric's rosengren is reminding everyone that the market is not really positioned for the possibility of a rate hike in september. so traders are scrambling. what do they do? ed first thing they do is you buy volatility. look at the vix. vix is up around 15 now. seen moving forward these are vix futures you're looking at, but the vix contract near 15 or 16, highest level since june. second thing you do is sell interest rate sensitive stocks so you sell utilities, telecom and consumer staples. by the way, home builders as melissa mentioned you sell them as well. the third thing you do is play

jackie deangelis at the nymex has the futures now traders with her today. >> good afternoon to you, scott right. we're heading into the seasonal downturn. if you look at gasoline futures, you can see they're down 10% in the last month alone. scott nations, is it just seasonality right now behind that drop? it's pretty steep. also, how is that going to translate to prices at the pump? >> well, i actually think it's a couple different things. you pointed out the chart. the chart for gasoline is much weaker than it is safer. crude oil gasoline hit a low in september, that was lower than what we had seen in july and august. that's not the case in crude oil. also, we see fewer imports, less imports into the united states. and, yes, we import gasoline than we've seen since the middle of july. so there are a couple of things going on. i think we may have seen a bottom here in gasoline because of both of those. >> jim, do you agree we've seen a bottom or do you think gasoline can go lower from here? >> doi. if it trades 1.32 in the october contract, i'll consider that a sell signal. it's not just

i'm jackie deangelis watching crude oil down more than 3% today. scott, doesn't seem like we're hearing much out of algeria. is that what's killing crude today. >> it is. the saudi oil minister said saudi arabia will ago along with the opec consensus. i didn't know there was one. they said the saudis and iranians are about 600,000 barrels a day apart when it comes to reaching some sort of agreement and so we now know that oil is going to rebalance lower. it's rebalancing lower by a buck and a half today. >> jeff, what's interesting to me is how closely we're hugging 45, whether it's plus or nine news a little bit. what are the levels you're watching at this point? which direction do you expect us to go. >> i think we go lower short term, jackie. you're right. we've been tethered to 45 and have to realize this production cut they suggested 350 million barrels a year in reduction, that's about 30% annual reduction so that's never happened. put saudi arabia and iran in the same room looking at a clock they'd find a way to argue about the time so i thi

jackie deangelis, thank you. >>> so is the move in oil nothing more than a short squeeze?et to dennis gartman, editor and publisher of "the gartman letter." what do you think? >> i think the market has been reasonably well balanced if you look at hard positions held by traders, commercial positions held by the hedgers. they have been equally balanced for a long period of time. i think we're all waiting for this meeting to end. in all probability, if history is any guide, there will be very little of any sort of agreement whatsoever. there will be some rhetoric talking about unification or unity amongst the producers. but on balance, the saudis and iranians do not like each other, never have liked each other and won't like each other in the future. they'll continue to fight for their own market share, looking at each other as trying to take market share from the other nation. and i think in the end, we probably end up taking crude oil prices lower, not higher. i think 45 to $50 for spot wti, plus the contango, makes it extremely profitable for producers and fraccers and for

back to you. >> thank you very much, jackie deangel deangelis. apple employees vote for hillary clinton just because tim cook supports her? how big apple's ceo plays in the big election, that's next. evergrstupbens w side evergrstupbens w withh simes complexity. tha'y so manin are the i c evergrstupbens w keiner nearlbis ar. simes complexity. unepertrai appusedy over0 millnr tha'y so manin are the i c depersse rity dends lhiewes f helpeempany' success caends a's t ior. >>> hi everybody. i'm sue herera. here's your cnbc news update at this hour. gop vice presidential nominee mike pence holding a town hall in missouri. he told supporters donald trump has a better foreign policy than the democrats. >> they know. they know what the american people know. that donald trump will rebuild our military, he will standby our allies, he will stand up to our enemies. and america again will command the respect of the world for the safety of us all. >> bill cosby back in court hoping a judge throws out evidence stemming from a 2004 encounter between him and temp

to jackie deangelis. >> it appeared that no deal was pricing into the market a little earlier this morningn low was $44.19 for crude. we closed off that low, around $44.65. still negative on the day. you talked about it a little bit before, the headlines from the saudi energy minister saying that the views among opec members are coming closer together, but he does not expect to have a decision tomorrow. and a lot of the buzz i'm hearing out of that energy conference is that this is setting the stage for a more formal setting, opec meeting on november 30th where the members get together, potentially, maybe we'll see a decision then, if crude prices continue to decline. you had jeff curry on earlier, goldman sachs saying the fundamentals for oil are weakened. market thinks supply will continue to outstrip demand, that that will push the prices lower. back to you. >> got it, jackie, thank you. >>> mexican peso hitting record lows in recent days and analysts think this move comes from trump's numbers rising in the polls. after the first presidential debate last night, however, mexican peso reb

jackie deangelis at the nymex with the reasons why. >> good afternoon.nk we're going to settle somewhere around 4762. seeing strength into the end of the session, we hit a high of $47.75. it was that inventory. a draw down in crude oil inventories of 14.5 million barrels, the largest weekly drawdown that we've seen since 1999. there are those saying this was a one-off. a problem because of the weather. at the same time, traders are looking ahead to next week saying if we do continue to see drawdowns like this, there is potentially a trend starting and we will see some of this inventory start to work itself out. that is a positive sign for crude oil. buckle up, get ready for some volatility. back to you. >> thanks so much. that's what's happening with oil. dom chu tracking the big energy names in response. >> while the broader market moving, the energy sector overall the best-performing sector in the s&p. you can see they're up by 1 3/4%. almost every stock in the sector is in the green, helped along by, like jackie said, the higher oil and natural gas pr

jackie deangelis at the nymex. >> we're higher today, it is the after effect of those opec announcementsgot earlier this week. i like it call it opec euphoria, over $48 a barrel. rig count numbers were out this afternoon too, we saw seven oil rigz added here in the united states. this is what happens when oil prices are higher. we drill more and this is exactly the kind of threat that the cartel faces after making the kind of move they did. the other producers may not follow suit. the dollar index was relatively stable, around 95. that is supportive of higher prices. the big question is if the euphoria continues into next week. some think we could make a run for 50. we also could lose some steam from here. for the week, oil prices up more than 8%, though. back to you. >> jackie, thank you very much. >>> hot ipo on wall street today. nutanix soaring in the market debut, up 115%. josh lipton, if it was nutella. >> yeah. well, a possibility for the ceo. mix it up. data centers and nutella. soaring is right. investors betting here that nutanix technology can up end a lot of traditional i.t.

jackie deangelis at the nymex this morning. hey, jackie. >> good morning to you, carl.t's right, oil prices trading higher this morning, but still well under that $45 a barrel mark. now, some mixed messages from opec over the weekend. the secretary genre minding everybody that the algeria meeting is informal. so the logical inference there is no decision is really expected. meantime you have the venezuelans out saying a deal could be very close. so you see this fragmentation going on within the cartel. then of course some chatter in the marketplace about an emergency meeting, maybe something more formal after algeria, to finalize some sort of a plan. so a lot of unknowns when it comes to opec. meantime, i want you to look at rbob gasoline this morning, it's trading down despite the fact crude is coming up. we have an update on the colonial pipeline incidenincide. the company is working on a bypass to help deliver supplies to some of the states in the southeast that suffered this weekend. and they saw gas prices spike at the pump. so this is something to watch, but the e

let's get to jackie deangelis. big moves in oil ahead of the opec meeting. >> big moves.% pop today. looks like we'll close under $46 a barrel. this is the start of an informal three-day meeting ending on wednesday. we have nothing concrete just yet, but the opec secretary-general saying that the oil market is in a state of flux. we knew that. it is premature to say if member positions are moving any closer. the bid in oil is this potential what if, what we could hear over the next two days and oil markets will be on edge, but now most people seem to think we're not going to get much of an outcome, no freeze in output is what is expected. >> that would be a miracle. >>> we're live at hofstra university, the site of tonight's presidential debate. larry kudlow with us, a trump informal adviser, cnbc contributor and latest book called "jfk and the reagan revolution" about cutting taxes. good to have you here. >> thank you, michelle. appreciate it. >> i was speaking with one market watcher who said, wow, donald trump unscripted for 90 minutes. tonight could be a trumpocalypse

jackie deangelis at the nymex. >> it is interesting that earlier this morning when the inventory reporthe doe, we saw a spike in oil prices turning positive. once people dug into the report and digested it a little bit more, they saw more than just a half a million barrel drawdown. they saw u.s. production was rising and imports were up as well. with that told, last week's number was a one off experience because of the weather. add to that, the gasoline actually added this week, and distylets were up as well and this was bearish. 43.5 is where we close. back to you. >> to sue herera now. cnbc headlines this hour. >> the acc president voted to relocate the league's championships until north carolina repeals that law. >>> chelsea clinton out on the campaign trail stump be for her mother in north carolina. she held two events, one in rally and one at a field campaign office in carborough, right near chapel hill. >> we have one candidate who has real policies and plans to protect the progress that president obama has made and build on it, and one person who has a real record of being able t

let's check in with jackie deangelis. >> closing prices a little over $43 a barrel.t today, but almost a dollar off of its session highs. we did have some optimism this weekend from venezuela saying it thinks an opec deal is close. that is tempered by the secretary-general saying this is an official meeting. rbob finishing lower as well, concerns about the colonial pipeline easing in the marketplace, but still something to watch. the expectation is that that problem will be remedied by the end of the week and gasoline will start flowing again as it once did. this could be a short-term blip if we don't see that timeline work out, it could be something more. back to you. >> all right, thank you. >>> approximately 8:30 p.m. on saturday night, an explosion rocks the new york neighborhood of chelsea. less than 36 hours later, around 7:30 this morning, the fbi released the name and a picture of a man wanted for questioning in connection with that attack. and some other attempted attacks. ahmad khan rahami. many cell phone users in the new jersey, new york area received thi

jackie deangelis at the nymex with the closing trades. what do you see? >> good afternoon.ke a decline of about 4% on the session. just closing here probably under 44.5%. oil taking the nose-dive after reports that the saudi arabians said there will be no deal next week in algeria. crude still holding close to that $45 range and it has been sticking there for the last week or two. the problem here has been that the market has discounted the fact we're going to have some sort of an outcome in algeria. at the same time, it takes into account the what if scenario when the cartel meets. they seem fragmented now. earlier this week we had some countries saying a deal is possible if not even close. the saudis tamping down expectations for that today. the next meeting on record is november 30th. some people talking about an emergency meeting in between. still a lot of unknowns here. the bottom line of today's headlines is that if we don't see an outcome next week, we do stand in the same place that we once were, that we have more oil than we really can use at this point and that gl

let's get to jackie deangelis at the nymex. is it a close below 43? >> good afternoon, melissa.a little bit over $43 a barrel, a decline today of a little less than a dollar. the positive sentiment here, clearly turning when it comes to oil prices. just trading the range as many expected. the big story is r bob gasoline, up 7% for the week. that's because the mark set getting concerned about a pipeline closure that brings gasline from houston through the east coast. this is certainly something to watch. the expectation is that pipeline will be up and running early next week. but if it is not, it could shoot retail gas prices up. so people are getting a little bit concerned about that. meantime this is the time we see that seasonal decline in gas prices about 10 or 15 cents. you can see it go the other way if this doesn't all pan out as the experts are expecting. back to you. >>> jackie, thank you very much. donald trump says hillary clinton started the birther controversy but that he finished it in his own words. and the president was indeed born in the united states of america.

let's send it over to jackie deangelis with the eia inventory report. >> good morning to you.ticipated report, sue. actually, the department of energy confirming what we saw from the api last night. we got a drawdown in gasoline of 6.2 million barrels in the same range. and that was crude inventories. gasoline down 3.2 million. so you can see here that we were expecting to see builds this week, and we didn't get them. now, prices did jump. session high in crude of $45.49, but coming right back to that $45 mark. it's sort of the equal librium point right now for this trade. this was a surprise because people were talking about this time of year demand sort of dropping off a little bit. but maybe that demand is picking up. and this isn't a week where we've had any kind of an interruption or a weather pattern that's been strange. this may be real demand. remember rbob gasoline trending up today with crude oil. that's because the colonial pipeline is set to restart operation, so getting a little more confidence into that trade. but it had come down so much yesterday that buyers ar

jackie deangelis at the nymex. >> good afternoon, brian. a little bit of a seesaw session.member, october rolling to november today. and november finishing just around $44 a barrel. under that critical $45 mark. the blip higher we saw today, some job owning, some headlines about opec, got the meeting in algeria, speculation surrounding that, possible some of the shorts are being squeezed out here. possible also that the role today created some volatility. we did see a big move in the dollar index. when i see a move like that, i look for crude to go lower and it didn't. gives you a sense there is some support here and some momentum to the upside. just around 4, still stuck 4, s the trading range. >>> day two of oracle's open where clouds are in the spotlight. john joins us from san francisco. >> safra catz, ceo of oracle, joins me here. i've got to ask you, you were just on stage with the chief minister from india. important market for you, both in terms of product and employees. 44,000 employees, second only to the u.s. a lot of talk these days about the u.s. worker, whethe

jackie deangelis with the nymex with the latest on that. >> it was a little bit more than a pop. it was a more than $2 move, more than 5%. we closed at $47.62. so what happened today? just when you thought you'd seen it all, we saw inventory drawdown for last week reported by the department of energy, up 14.5 million barrels. it's the biggest drawdown we've seen since 1999 for the week. gasoline also drew down and imports were a little bit lower. it has a lot of people questioning today whether it was a one-off experience because of the weather problems we saw last week, some port closures and and production problems, or if this is a start of a new trend that we're starting to work through the oil glut. you have your skeptics out there. tom clausus gave us three reasons why oil should and probably will go lower from here. the first is that he's not expecting an output freeze from opec members in late september. add to that that this is a possible anomaly that we saw today, that the data isn't necessarily telling the whole story. and also that we're expecting that seasonal demand