sure enough, halliburton reported an excellent set of numbers.y are talking about a multiyear energy upcycle. >> let's check in with jeff miller, the ceo of halliburton. we will look at what is coming next. thank you. >> it is great. the new set is fantastic. this was an amazing thing. there are so many highlights. let's start with this. early meanings -- we just stopped drilling. >> investment is down by half for almost 8 years internationally and you just have to drill. it will be multi-years of recovery. of activity for us. >> i was surprised. i thought maybe it was just the united states but the middle east -- i learned that they need to spend more money. >> absolutely. it is a fantastic opportunity. >> okay, let's talk about how some of this has to be technologically driven. you are inventing -- how do you drill 50,000 feet down? >> it is fantastic technology. we do a lot with drilling tech knowledge he. i think about it like space almost. we drill 50,000 feet and put it in a bucket. that is what is involved in drilling these kinds of wells.

we to preefer enp names on this pullback rather than the service names like a halliburton, but halliburtontactical here. here's the range i'm watching, 27 support on the upside, 34 resistance on the upside, and i think for now we've inflected higher and you get a continued run up to that 50 day average. >> we're at 29, and we'll see what happens after results pippa, thank you very much we'll see you soon, our pippa stevens, thank you very much for all of your picks and trades today. >>> coming up, with about 56 million americans forecast to experience dangerous levels of heat this week, we'll get a look at how utilities will be impacted and whether the alt energy names will see a boost. >>> and bank of america shares fractionally higher today on a second-quarter revenue beat. the ceo brian moynihan will be on closing bell at 3:00 p.m. eastern today to discuss tseho results, the economy and more. don't miss it. turboxflex frames are engineered with a 360 degree hinge disguised in the design. for maximum comfort, flexibility, and performance that stands the test of time. now, strength meets

we also hear from halliburton. their earnings are soaring yet the stock has been crushed. it is down eight straight points. it is time to recognize that the earnings could be huge for halliburton, not tomorrow but for years to come. on tuesday there is lockheed martin. this should be the moment in the sun. why? the west is rearming but the stock peaked 70 points. there was some very big sellers all day. did they know something? we will find out. at the close we hear from me: star, nestle. their last quarter was -- i struggle for a word, incoherent. microsoft was at supported track. for the longest time, netflix told us that there was plenty of growth in streaming. now the growth seems to be evaporating. wednesday we get the results from abbott labs. this is one of the most erratic companies because of the volatile covid testing business. that will run out someday but in the interim it is terrific. how often did you test this weekend? this is not a business that might not be around 12 months and that is probably what is going to happen. this is closing most important part o

so those halliburton share gaining on that bit of news.direction, down by 3.5% just about 26,000 to 30,000. lockheed was impacted by production slowdowns due to the covid outbreaks earlier this spring and we're going to end on mergers and acquisitions chatter. ncr is up 10% on 185,000 shares of remarket volume, the company formerly known as national cash register it's in talks to be taken over by var toss capital. watch ncr shares that's the bit of chatter, joe, that's drive up those prices right now. i'll send things back over to you. >> a name from the past, i think. ncr. good old ncr dead money thanks it's already over for the biggest wall street banks, leslie picker joins with us some of the key take aways now that we've looked back at what we've seen over the past week. >> yeah, joe that's benefit of being first. in just three trading days earnings season began for the big banks, the big six traded flat or higher over that period, which is not bad, considering on average their earnings plummeted 35% during q2, subtracting a combined $

the oil story helping halliburton. record profit for that company. intraday. more fundamental story. twitter more progress on the court case. a judge saying the trial date will start in october. twitter wanting september. elon musk want to get to start in february. looks like the market is saying twitter might have the upper hand. shares just shy up 4%. let's go to d.c. the 10,000 small business summit is underway. they face challenges when it comes to cybersecurity. annmarie hordern joins us with a special guest on the topic. annmarie: i am joined by jen easterly, director of cybersecurity for america. you got this job, unanimously voted in the senate. you worked for the obama white house and bush white house. you know a lot about protecting data in america. recently you and the fbi put out alerts making sure the private sector was prepared for hacks from china, iran, korea. what happens after that? what if these private companies are hacked? jen: it is great to be here. it is such an important platform with small businesses. we were set up with the newest fe

halliburton is on tonight.early enough considering the amazing quarter, and we have to talk about arvind and ibm there are many concerned that they may not have been able to turn it around. >>> down 7%, that will take you back to may. if you were to quiz my partner right now about what stocks -- we'll see -- who do i have on tonight? >> luckily we don't have time, david, but i know you would know. >> of course i would know. i know everything. >> twitter and i will never tell, jim, don't worry, about all the things i known can. >>> we'll see you at 6:00ic jim. we'll be right back. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydire

s&p 500 includes halliburton down 9%. it is the energy where we are seeing the steepest selling. as you mentioned, some of the technology companies are hanging in and some safety trades as well, such as dollar tree. kriti: for big news in the last hour is the u.k. chancellor announcing resignation. guy johnson joins us from london. break this down for the american and international audience of what this means in terms of the support boris johnson now has, or does not have. guy: it is the latter point worth making. margaret thatcher, back in the day, was brought down by her cabinet. if the prime minister no longer has the support ofs hisu or her cabinet,n they are no longerak the prime minister. -- cabinet, they are no longer the prime minister. this evening, we have seen two of the most influential figures resigning. we are in the middle of an economic and health crisis. we have seen the chancellor of the exchequer, the finance minister, and the health secretary both resigning. this comes after a period in which johnson's credibility has come under question. we have been watching

capital levels were better look at halliburton. they said they were sold out in north america. energy is going to do well we look at pepsi i keep bringing that up. that is on my radar screen i don't own it and i want to own it n a weakness, i might but they're talking about 13% organic growth so you know i've been picking at some names so on some of the big drawdowns, that's where i'm going a little bit more aggressive. but i don't think that market is going to run away from us from here. >> we'll get to one of yours in a little bit too >> i know. >> you left that one out >> well, on purpose. >> i know you did. i know you did okay that's why you left it out. >> right >> you no he what i'm talking about. josh said it's hard to do anything in the market before you hear from the companies that are reporting and hear the guidance i mean obviously that's a fair and good point the thing is that j.p. morgan's suggests that weaker guidance can open the doors for the fed to pivot and tempt investors to step into the market so there is plus in the negative according to him >> well, that

energy names overall have now been hit with huge declines, the energy etfs, oil services names like halliburtonnes like exxon mobil all lower. keep an eye on oil, we'll be right back rp what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq hybrid work is here. it's there. it's everywhere. but for someone to be able to work from here, there has to be someone here making sure everything is safe. secure. consistent. so log in from here. or here. assured that someone is here ready to fix anything. anytime. anywhere. even here. that's because nobody... and i mean nobody... makes hybrid work, work better. . >>> welcome back, everybody. less than 90 minutes left in the trading session today, the market's looking way better than it was this morning, but let's get fully caught up across stocks, bonds, commodities, and with transportation secretary pete buttigieg, starting with stocks where the dow still down more than

it was on t thomas, it was an invalid name, and it was on a very thing halliburton national platform. and he portrayed himself as the walk eagle who won the war dow by all or denying the gross violations of human rights and humanitarian law. that could be, that had taken place during the war and for which he had is held responsible. but for, of course he has not been held accountable though for minorities, kate violence is not new. and that the problems that the minority like for instance, lack of accountability militarization in the time a majority areas that the political solution to be the conflict. those are still have, they had still seen a no resolution for that was anytime in the future. but what we call is that in this moment, the change that we all sorted, the issue, the board because one of the causes that the roger came to the reason is also because of racism because of thing. however, it's nationalism, and that is what has also led to the price. is that you right now? just briefly, do you expect any real change to come out of this uprising? well, the fact that does that me

the only ones you need to consider is halliburton, they are more geared for the u.s.eer and diamondback. every country wants to get more oil into the market. they literally just crashed like so many other parts of the market. it is frankly unbelievable to me how much these went down just in the last, say, 10 days. even though their earnings and their outlook should be superb. but, so either advanceslet's go two miles in louisiana. it has been a tough first half. i'm so glad you said that. thank you so much. what's up? >> they have the high peak energy back in april. >> i think high peak is terrific . i think it's turning out to be the cheapest stock in the group. this was an opportunity. by the way, we did this a company that often did shipping the other day, which i'm looking at a lot of the shipping companies and i think those are very to shape. was go to sondra and colorado. >> thank you so much. >> i totally understand it is up a huge amount and if you want to take some off the table that is fine but i don't know how you know whether it would be traded successfull

that are gaining substantially but not gaining enough, whatever they're supposed to be gaining halliburton last night they claimed they were sold through and realized they made a mistake. they shouldn't have said they can add so much more yet the stock was -- had come down from 38 to 29, didn't go up >> rather own met ta at 12 times gap earnings >> yes, absolutely with mark, thinking and talking about the focus being creative i don't know how he would get those headlines. he came on "mad money" and said our focus will be creative it's a news story. but, yes, the answer is absolutely >> there it is >> absolutely i would rather own meta platforms without a doubt. >> that's why i asked the question i kuhind of knew the answer it was a leading question. like twitter we'll talk about -- >> that's between the chancellor in delaware and the chance ler in germany who's in better shape? >> you're feeling good about the broader market and some of the calls you made in february >> i was joking with david people are like -- i said to david this july 13th would be a low. and the fact is that we had kin

ibm later on today johnson & johnson and netflix and halliburton.la and united thursday is travelers and american friday is american express and verizon and twitter. that should be an interesting one. a busy week ahead. now to the trading day amid that framing. you have futures poised for solid gains at opening bell. dow implied higher by 245. we have david katz here with us. david, did you feel better on friday with what you saw does that make you feel you want to put a shopping list to work >> friday was a nice indication. you had earnings season with the banks. banks generally okay to mixed. the market focused on the positives. the hope is the earnings season is not blockbuster, but the market take it in stride if that is the case, we feel good we would buy any weakness. we would not chase days like today, but we think a year from now, stocks are significantly higher now is a time to look at playing offense. >> if it is offense rather than defense, where is the offense you want to play and are those offensive parts of the market you want to buy i

o occidental, the big outperformer in 2022 has valero, exxon and halliburton all up 40%, but clean energyd plug power all sharply lower and thanks to tight fundamentals and j.p. morgan saying today that oil and gas stocks are the most attractive group in the market especially after the recent weakness higher commodity prices could actually boost renewables, too, since it makes them cheaper in comparison meantime, supportive policies like the extension of the investment tax credit can lift the group. we've heard the narrative for a while now about near-term weakness and long term opportunity which begs the question if and when will it shift? >> right if not now when? >> exactly, pippa, thank you very much. pippa stephens high energy prices have one big headache for the transports. now we'll have another westport port strikes and we'll dig into the implications on "power lunch" which begins right now. ♪ ♪ >>> and welcome to "power lunch. i'm eamon javers in today for tyler matheson an inflation battle. strategists say stocks won't rally until inflation shows signs of rolling over. it's a ke

apa, eog, halliburton among some of the hardest hit and about 5% declines here. elsewhere in tech, shares of apple turning higher midday while some of the other big tech names remain lower although microsoft now joining the green list, as well. alphabet, amazon down fractionally and the financials down much more after being pulled down by those earnings results from jp and morgan stanley. j.p. in particular, that down, and both of the stocks are trading at 52-week lows. their results amplifying the recession and slowdown fears and jpm halting buybacks and the slumping revenue let's get to leslie picker with more on the message these banks are sending. leslie >> despite the weaker-than-expected results it's a fairly mixed message that we're getting on today's earnings on the one hand, the consumer side of the economy appears to be intact. j.p. morgan reporting credit and sales volume up 16%, deposits are up 9% and jamie dimon saying on today's call that business credit has never been better, at least in his lifetime and james gorman noted that the banking sector i

halliburton, i looim liook like schlumberger >> and josh, you may see him this afternoon he is clearing his schedule. what is your final trade >> nvidia. if you think this tech bounce has legs, this name will definitely play. >> see you in a few hours. >>> thank you, scott hi everybody and here is what is ahead on "the exchange." bulls are back in charge with stocks staging another strong rally. perhaps this one will have more staying power than yesterday's we look at why we may be closer to the bottom than the top one of our guests was positioning for what they call significant up side ahead. and plus a major divergence between snoougsinstitutional anl inve investors. we'll tell you what it is. and the streamiiing giant expecd to lose 2 million subscribers, is the bar finally low enough. and two other names, all in today's earnings exchange. first let's get to the markets and dom chu has our number >> has the market gotten low enough to be a buy one of the reasons why you are seeing such volatility in a maybe what can be characterized as a consolidation phase for the market right now,

tons oengy nesf eram on the bottom, halliburton, schlumberger, others not far behind that.moment as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. >>> welcome back to "squawk in the street." we're moving to more lows, negative territory for sure. we're seeing outperformers, and that includes mccormick, lamb weston and clorox. dollar trees scoring high as well in the sector those often seen as demands for necessities stick around for economic uncertainty and possible recession keep an eye on those distant retailers. stay right here. we'll see you more after the break. >>> the dow still down 69 points or so, but look at the nasda

halliburton with five weeks and conocophillips that were at new highs in april or so.ve collapsed as well even more than some of the energy stocks. the commodities themselves are also weaker. there is a base metals index which is of basket of base metals stocks. straight down and this is aluminum and copper and zinc futures which is indicative of the overall futures market. commodities are soft plus oil. same situation in 6-8 wheats for lumber, crude and corn. for the most part, march and april, they have been steadily down. in conemaugh commodities we've gone from a bull market to a bear market in essentially five or six weeks. this is the problem and you can change quickly on a dime in the market. we are seeing that with stocks as well. back to you. >> as we go to break, yield on the decline given the macro indicators. you have the 10 year today with the front end back below 3. we will be right back. >>> one thing we didn't get to this morning was the news from citron yesterday a very bearish take. with a year-to-date decline of almost 60% w hanging on to smiled gain

worst performer, maybe no shot there, given the volatility weft seen s that, games like valero, halliburtongest laggards those declines come as oil prices pull back with west texas intermediate slipping further from that $100 per barrel market also that higher than expected increase in u.s. gas line inventories earlier on this week for the supply side of things. we'll watch if that imbalance kind of playing out over the next few days ago well sara, i'll send things back over to you after the break, we're talk to the ceo of union pacific don't go anywhere. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefinin

oil prices are up if you look at the s&p 500 leadership board it's diamondback, valero, marathon, halliburtony isn't it lauren: it is and it feels a little, to say that. i don't want to jinx it. stuart: everything is coming down the pike, the five big technology companies start ing tomorrow they aren't. lauren: wait and see. stuart: gdp report are we in a recession, is it biden's recession and the fed. lauren: the fed starts their meeting tomorrow. stuart: big week folks. treasury secretary janet yellen says the economy showing no signs of recession. we have her explanation that's got some people scratching their heads. china has become noticeably more aggressive and dangerous. that's the new warning from the joint chief of staff and we're on it. the ukrainian military reached a turning point in the war. they think they will retake a major city by september, but only with the help of western weapons. general jack keane joins us after this , with the state of play in ukraine. [sfx: ding] [message] hey babe, meet us at the bottom of the trail. oh, man. hey! open up! the redesigned chevy silvera