all of that and more for this friday, september the 11th good morning, i'm bill griffith in font for tyler mathisson. >>> a new report tonight say there's is a chance that prices could plummet to $20 a barrel and the probability of that happening is rising. the report was part of the reason why crude futures fell 3% today to settle at $44.63 a barrel. not everyone agrees with that scenario. jackie has more from the new york exchange. >> the possible low? $20 a barrel. "lower for longer" says the chance is increasingly likely as storage continues to fill. >> there is a lot of uncertainty. it could be u.s. production. a $40 barrel, where our base case is set, is the level at which you see a drop in drilling. we saw it today for a drop in rig counts. if you don't bring global production down long enough, then you're like i to run into storage capacity constraints. >> due to an increase in supply, the base case calls for $30 a barrel oil in a month. but some are skeptical. >> i think the oil will not go that much lower here. i think once we get to these levels, the market is susceptible

. >> surprise, surprise, to check on the markets, let's go to bill griffith, hi bill. >> hi guys. wait until you hear about the price increase, it's already happening in washington, d.c., i'll get to that in a moment here. of a big selloff on wall street today. there are concerns about vw and the impact that the scandal will have on the european economy. we told you yesterday about the company getting caught installing install installing software that masked emissions during, gave false readings on emissions during inspections, and that's now carried over to the united states here today. and the sell-off continues a thtd hour. you just saw the dow down 221 points. one of the biggest sellers inside the dow is gold man sachs, wall street reeling from word that goldman sachs ceo, lloyd blankfine has been diagnosed with lymphoma. his doctors told him it os high liqueurable and he can continue -- curable and he can lead the banks while going through treatments. he will though curtail his travel schedule over that time, and chief operating officer jerry comb ill take over those duties f

. >> bill griffith joins us with the answer and much more on this monday, hi bill. >> i cannot wait to see how much lower they can go, but they are going lower now. stocks also lower right now, guelys. real sense of anticipation this week. the federal reserve meets wednesday and thursday, and this is the time when maybe, just maybe, the fed will start raising interest rates for the fiorrst time in almost a decade. right now the dow is down 83 points, but it's way early, there's going to be a lot of trading to happen between now and thursday. shares of apple opened strong this morning. the company is saying that the preorders for its new iphones, the 6s and 6s plus introduced last week, all on track to beat last year's record pace. last year ten million phones that first weekend. what's interest sergeant larger s6 plus this time around is seeing stronger demand. apple admits it had to scramble to ramp up production for that model. both phones hit the stores, go on sale a week from friday officially on september 25th. >>> and it is not your imagination, gasoline prices are dropping sharp

those details and a check on the market, we turn to bill griffith, this didn't happen yet, what is it? >> it's crazy because apple isn't identifying which apps has been infected yet. i'll get to that in a moment. good rally under way on wall street after the big sellout on thursday and friday after the fed failed to raise interest rates. we were up more than this, the dow was up almost 2700 points at one time. we've lost some of the gains up 80 points. what a mess for volkswagen, they are asking all u.s. dealers to remove and halt sales immediately of all of their diesel-powered audis after u.s. regulators said they installed software in the cars designed to give false emission readings. the epa has already ordered vw to recall almost half a million diesel vehicles made between 2009 and 2015 so that that software could be removed. vw still faces huge fines, get this, up to $18 billion. that's what the fine could be based on the number of cars being called back. and there are several lawsuits pending. this story is not over. >>> and remember those days when apple could boast that its o

. >> bill griffith joins us from cnbc global world headquarters. >> yeah, we have a pretty rally under way, and it's not about the fed. it's about oilt prices. they've been rising, latest inventory report shows a reduction in oil inventory, so prices have gone up and stock prices have followed suit. the fed is meeting right now. tomorrow could bring fireworks when we learn whether or not they will begin raising interest rates for the first time in nine years. there's the dow up 81 points, was up 100 points a little while ago. right now president obama is washington. it's the quarterly business round table meetings. he's trying to garner support from them to pressure congress to end tax advantages for private equity managers. this is part of the funding bill that congress has yet to pass. and if they don't pass this in the near term, the federal government could shut down as early as next tuesday. so the president is taking his case to business leaders to try and get them to pressure congress on that contentious issue. meanwhile, target has ordered 335,000 fitness trackers from fitbit.

with that story and a check on the markets, let's check in with bill griffith, seems early. >> uh, yes, it is, but wait until you hear the statistic, i'm going to tell you here. by the way, vw's contract with tomorrow. so it's not a huge surprise he would be stepping down. he probably wouldn't be asked to come back anyway. we have a selloff on wall street right now, shiba, even though we had good news on husing this morning, mortgage applications last week were up a whooping 13.9% because of a dip in interest rates, but that's not helping the stock market. the dow is down over 100 points right now. companies are trying to attract day. unlimited vacation time, expanded plannal leave, and now there's this, price water house koopers is going to offer employees, help them pay for their student loans. starting next year. those employees who were qualified for this will receive for up to six years, to help them pay those student loans. the average student loan tab these days is a about $35,000. so this is a nice perk, and we'll see if other companies follow suit. so yes, here we are, the fir

. >> bill griffith joins us from cnbc's global headquarters with that and more. had your coffee already? >> it's gorgeous. yes, i had my coffee already. happy national coffee day plus one. it is the last trading day of the third quarter, i don't have to tell you that, we have a good rally under way right now. ffit will be a negative quarter for the stock market, but not today. we had some good job's numbers from adp saying that the economy grew by 200,000 jobs in the latest month. and right now it's up 124 points to cap off what has been a volatile quarter. amazon is introducing a new service that'll allow anyone with a car to deliver their packages. sounds like uber, right? it's called amazon flex. and they will pay draifr ivers up to $25 per hour and drivers can choose their own hours, just like uber. it's only available in seattle, but get ready for a nationwide rollout in the not too distance future. and it'll be interesting to see what impact that has on fedex and ups if this takes an edge off of their business. >>> and yes, it is two years behind schedule,

. >> there you go, with that story and a check on the markets, bill griffith, i love the grocery delivery. >> well, you're not alone in all of that. wait until you hear how much we spend on online groceries in just a minute here. first, let me tell you about this lackluster day on wall street. we had a lot of volatility lately, but not today. the dow has been up, its been down, but not by a lot. you mention, you guys mentioned the possibility of a government shutdown. later this week the odds are that they will come up with short term spending bills this week to save off any shutdown, but that those bills will only last until december and could have a big battle on our hands at that time. >> housing looks good, prices around the country shows solid gains around the country. the 20 largest cities saw a gain of, an average gain of about 5% in july on an annualized basis. san francisco and denver saw the biggest gains of more than 10% because of an influx of high-tech companies there. of the top 20 companies, new york came in 18th with an average gain of just 1.9%, only chicago and washingto

all of that and more for this friday, september the 11th good morning, i'm bill griffith in font for tyler

all of that and more for this friday, september the 11th good morning, i'm bill griffith in font forer

it was as simple as the word i heard bill griffith use and that's volatility.on't want to get too wonky, but it's a situation where quite some time, options traders were rewarded for selling volatility. those same people are now being punished for selling that same volatility. and what happens is and john can speak to this, the higher the market goes, the more things they have to buy. and the lower the market goes, the more things they have to sell. that's the nature of having negative -- or bad greek. and i'll add to it this. knee-jerk reactions by global central banks based on things they perceive to be happening, driving markets is a recipe for destruction. on the upside and to the downside, you saw it yesterday. the upside. i think you're seeing some of it today to the downside. >> john, i guess the point for people, then, trying to figure out what's going on, this is some kind of technicals that have to do with what guy was just referencing. or was there something more fundamental we can hang our hats on to say, hey, this is the problem. >> guy is right ab