more reaction to all those stories over on the bp sport website.hat is all for now. good night. good night. hello. high pressure ahead on the way for a few days to settle our weather down from wednesday but in the day ahead still some opportunities to get wet from either this area of rain pushing east across southern england, parts of the midlands and east anglia in the morning, or patchy rain and hill snow to start the day in scotland. by the afternoon, though, it's mostly sunshine and showers. a greater chance for the showers in the west, moving through quite quickly on the win. feeling chilly in that breeze, despite some sunshine around any of those showers. a few overnight and into wednesday morning, pushing south across scotland into northern england, most other places will be dry and clear and as the wind eases further south in england, into parts of wales, the first frost of the season is on the way for some, and then on wednesday, plenty of sunshine to start the day, while most of us will have a fine day, a bit more cloud for northern irela

not just yet the quality name that stand out is chevron i love bp, they do an awesome job.pped it up, especially given what they've had to deal with, especially with oil prices all over the place i think chevron is the name to own. >> shannon, i have one from mike going into the holiday season, act vision or electronic arts? >> mike, it's a great question we're entering into perhaps a super cycle for gaming, the christmas season santa loves to give video games for christmas we like ea over act vision there is that cash -- recurring cash flow aspect to it ac activision has "call of duty." we prefer ea going into the holiday season >> a bonus one for you, weiss. it just came in. it's from joe in easthampton -- why are you laughing, pete it's a serious question. joe from easthampton, new york is lulu a must buy for the christmas season and our own courtney gibson just joined the board of lulu didn't you sell the stock? >> i did i did. and the reason pete's laughing is you need a sense of humor to dress like that. i love it, there's a moat around the business courtney going on

>>and then she save earlier that we were some of your favorite anchors who work with bp i think you know people see that everything was ok you're still leaving us so i don't know what time we watch all that's right we central with a big tv said yeah well mike thank you like him is to sign >>by good night, everyone. (garage door opening) it is my father's love... it is his passion- it is his fault he didn't lock the garage. don't even think about it! been there, done that. with liftmaster® powered by myq®, know what's happening in your garage- from anywhere. we have the power to harness california's abundant solar and wind energy, but it's not available all day long. use less energy from 4 to 9 pm for a cleaner california. about the covid-19 virus. it's real. and it's dangerous. so, on behalf of all of us working on the front lines, please take it seriously. and while we don't yet have a cure or a vaccine, we do know how to keep you and your loved ones safe. wear a mask. wash your hands. stay six feet apart. do your best to stay out of crowded spaces. and get a flu shot, it's even more im

for shell and bp, the migration is difficult.about managing big debt loads, shareholders expect dividends, ongoing cap x while finding the money to solar and wind. it will take them many years, decades to achieve. the thing we saw in our survey was what investors really want is to get direct exposure to assets and that is one of the choices investors make. do they choose to get it through businesses in the old economy that are repositioning or would they prefer more direct investments? topics like liquidity came up in our survey, issues like government cooperation, collaboration, and energy price. those are things investors have on their minds when they think about the renewable sector. world of very low interest rate, investors are to what extent do investors see the renewables asset class as structurally on the move rather than correlated to the cycles we witness elsewhere? does that work its way into their thinking? does. it absolutely i think it is not surprising. seenin asset classes have levels, fixed income mostly yielding

we see talks between bp v.a. -- down.nd -- raking -- breaking down.stion is what will those companies do? kailey: let's get more on that. kbw analyst joins us now. he cut his recommendation to underperform from market perform. it is great to have you. this fell apart because of price , the exchange ratio. you think it is not at all likely bbva comes back with a higher offer? >> thanks for having me on the show. we have seen an announcement from both companies saying the discussions have come to an end. sabadell followed that up indicating it was going to push ahead with its own strategic initiatives which involved focusing on cost reduction in spain and other options for international. for bbva they made a significant gain from the sale of their subsidiary and they have it wasely decided that not in their interest to proceed. i would have to assume these conversations have come to an on.and it is time to move guy: let's talk about that. the money from the u.s. operations probably burning a hole in the pockets. i wonder what else they will do with that

have come in a little bit since the beginning of the month, but high-yield spreads have common 70, 80 bp'slatility has come down during that time. i think we are not done with bankruptcies, not done with business closures. it will go beyond the energy space. the energy space is about 44% of the high-yield market. there are other sectors like telecommunications and others that are seeing down credits. if we look at the upgrade/downgrade ratio to high-yield in particular, the downgrades are leading 5-1. there's the pain trade. the pain trade is for all of those who reached out and tried to get yield, and i think you will see spreads widened before the end of the year. sawthan: back in spring, we a huge dissertation between investment grade in the market. have these changed sufficiently in a material way over the last nine months that we might not see a repeat of that? kevin: most of the financings or refinancings have been much shorter than where they normally would be given this opportunity, but that is about cash buildup. county,ook at state, municipal, they are doing deals to provide them

we are looking at 1.3% on the tenure by the end of next year, 30 bps of steepening. what we think? iain: we had a bit of a roller coaster ride, and now with the vaccine news yesterday, it does feel that the catalysts are in place for treasury yield to move a little higher than they are today. we have been looking for a 50 basis point to run percent range, but taking we can get to the top side of that on good news around a vaccine and maybe push through that, i wouldn't disagree with their views. i think the more interesting question is can we really push higher than that in a world where the federal reserve is likely to remain on hold for the next few years. i think that will be more challenging. guy: the fed is going to be happy, isn't it? isn't it going to look through any kind of inflation we get, through any kind of problems that the bond market may have pushing higher? the issue here is that if we get a vaccine on the economy returns to normal, the fed is going to tolerate higher growth, higher inflation. it has already indicated that. why shouldn't yields move higher in that

as you stated earlier, the 10-year is around 89 bps. hopefully that stays there.f it starts moving up, the cost of servicing this debt will keep growing. right now, we have an opportunity where rates are low, to try and pay off some of that debt. vonnie: let's talk about the pandemic and the markets. the vaccine rolled, does it come in time to save these companies that are desperately holding on? will we see a wave of bankruptcies? marc: i think what you will see is a wave of lending. the reason for that, what wall street was worried about, nobody knew how long everything would take. if you were say, optimistic, six months, pessimistic, two or three years. now, if you are optimistic, it's three months. if you are pessimistic, a year. ultimately, that means that you will be willing to lend to companies because you know that things will work out sooner. you will have some company that will be filing, but the opportunity to rescue lending, lend money, that will grow exponentially over the next year. vonnie: early on in the pandemic, you invested in companies like mac

one in four businesses are in the process of being close to permanent closure bp that tracks to another research out there. the economy and the pandemic are really linked. >> alex. >> 100%. you're absolutely right. thank you so much. let's go to carol lee who is standing by for us in washington. carol, welcome to you. now that we have trump's appeal being struck down in pennsylvania, how does his campaign plan to move forward in. >> reporter: they are saying they are headed to the supreme court. that's what their response was yesterday. they said this was something that, in their view, was part of the judiciary machinery. that's a quote. in terms of something that is bias against the president. they will continue to fight this onto the supreme court. it's not clear the supreme court would take this case and they are alleging the judge in this case, this three panel judge and the judge who wrote the opinion who is a trump appointee are just not looking at the facts. they are saying they are not listening to these widespread allegations of widespread fraud. i'll read you a small portion o

but the bp was important -- ep was important for other reasons. it provided an open invitation for enslaved people to run away and to receive protection from the united states military. most revolutionary of all, it basically authorized the enlistment of black men as soldiers. ownerss the thing slave everywhere feared most, having men beoldiers, enslaved armed as soldiers. that was the most revolutionary part of the emancipation proclamation. and then, the third point i wanted to make is that we have to think about this emancipation as a process. as i said, it is a protracted process that began at the outset of the war. it was not a straight line from slavery to freedom. there were fits and starts. there were retaliations by confederates. not even all people on the union side necessarily supported emancipation. process.t was a it took a while. it took basically working over the course of the entire war for emancipation to be achieved. ended, in order to secure emancipation, we needed to take another step which was to abolish slavery. abolition toq

being played a full minute 20 people you know we can prescribe you know many tony to try to duck when a bp shun alex stokes, cleveland. up next here on kron 4 news coming up at 9.30 wisconsin election officials. >>finished a recount confirming a joe biden victory but why president trump says he will continue to fight the results in court. plus a u.s. airlines is reportedly making plans to charter a potential covid vaccine when we can expected to be ready and also what that airways is going to have to do to get ready to ship all those vaccinations also the united states could see a big holiday surge in the coming weeks why doctor anthony fauci says it's not too late to stop the spread. after the thanksgiving holiday. the stories coming up right here on kron 4 news at 9. ♪ we have the power to harness california's abundant solar and wind energy, but it's not available all day long. use less energy from 4 to 9 pm for a cleaner california. >>i mean the travel that has been done has been done right now as people go back we want to urge them. if they've been in situations outside of the family s

speaking of articulate and insight, and conversation with evan this afternoon will bp buttigieg, former mayor of south bend, indiana and the 2020 democratic presidential candidates. mayor pete also has a new book out, america's best chance. we already did in the event for that three weeks ago said the mary sue to recognize evan's work and also of course put in a plug for his former primary opponent and now enthusiastic picked to be the next president of the united states, joe biden. so evan and mayor pete, taken away. >> wonderful, first of all thank you so much. it is an honor and a treat to be participating and a place as iconic as politics and prose. having now and appeared both virtually and in person. i am delighted to be there once again. especially for a journalist and writer and observer of the caliber of evan osnos who is so well suited to help really open a window into somebody who on the one hand a well known and recognized figure in u.s. politics. and on the other hand even now often misunderstood. on the work covering him before, during and since his vice president and now

will be nevada for many 20 people, you know we can prescribe you know many tony to try to duck when a bp shun alex stokes newsnation cleveland. >>thousands southern california edison customers remained without power tonight as ongoing gusty winds and red flag warnings have officials concerned about an increased risk of wildfires more on what's expected this weekend, let's check in with our chief meteorologist lawrence karnow warrants winds have come down a little bit los angeles basin. but other parts still worried about the fires there in fact a red flag warnings continuing there tonight as we're going to see some strong gusty winds again over parts of southern california. this located a little further to the north los angeles. >>getting up toward ventura near santa barbara you can see the area in red here expecting some strong gusty winds. those continue until 6 o'clock in the evening tomorrow. maybe some 30 of 40 mile an hour gust over the mountain tops maybe as high as 50. now for the south you get in san diego county also looking at some strong gusty winds too so the bay area not ba

you can see many of them are based in the u.k., bp down 2.7%, shell down 2%. also other oil majors in the continent trading weaker on the news as we head into this all-important opec meeting, and just to recap as well what dan was saying, dan will be there covering the event but i think the main expectation is that they will not be ramping up production. and if you look at what the opec-plus committee actually agreed earlier on in this year, if they follow that template, they would have had to increase production by 2 million barrels a day come january but now the news over the weekend seems to be indicating that they will not be going back to that january template so with that, let's bring in ron smith at oil and gas analyst great to have you with us. as i just mentioned, opec were scheduled to ramp up their productions by 2 million barrels a day. it seems unlike little they may do they. do you agree >> looking that way now given what was reported over the weekend. we had a couple of the smaller countries who seemed to be dragging their feet, potentially if t

bp, exxon, chevron, but we're not going to get back to pre-covid levels anytime soon, charles. going to see some depression in terms of travel. charles: okay. >> people have been very productive at home. fortunately or unfortunately. charles: you know, i want to stick with that whole thing because these covid cases are on the rise. initially when all of this started happening it was a consumer staples stock that went through the roof, right? there was a shortage of toilet paper. now if you look around since the march 23rd low, it is the worst-performing sector. i will ask both of you, start again, dani, is it time to revisit that. you're talking value. when the audience hears that, now you narrowed it down to 2 or 3,000 names. do you go into something like kimberly clark. do you go into the staples they see every time they go into the supermarket. >> like clorox which got crushed yesterday but up a little bit today. we like consumer staples, the go out of town trade, going out trade, some places it is not baked in yet. one thing which love for a long time is coca-cola. they're

on i cannot believe that roosevelt would've had trimmed his bp and not tell the manhattan project. >> roosevelt didn't think about it, he was just trying to pummel, he barely spent any time, he was in georgia recovering, or he was traveling. you know, it's interesting, i did the interviews that i could for this book, even though most chapters in history, people are dead. all the tyler scranton is very useful for a anecdotes. but i asked george w. bush's question, because i did in american terms with him before he died, kissinger, cheney, and a number of others, and they all had the same comments about the vice presidency. which is i asked him in the context of fdr, and kissinger's remarks on this was quite amazing. he said if fdr knew he was dying, and in denial about it, why would you want the person who is most likely to benefit from your death lingering around? and fdr didn't want to set eyes on truman. if you know they are dying in your in denial of dying you don't want to look at the guy who's about to take over for you. >> you mentioned you are gonna tell us about nixon in forwa

participation that is important to us not everyone takes this so be proud of taking ann i've got time i've bp got with 25 jobs so for young people one of my favorite days in san francisco thank you, thank you to the companies that are hiring. >> (clapping.) >> the city of san francisco and united way are calling an employers to have jobs for youth in 2012 president obama issued a challenge and the challenge was get disconnected young people connected to jobs and so mayor ed lee said we should lead this challenge that the city will have 25 hundred jobs that first summer 6200 jobs and been building. >> i'll high are ups we like to pledge 50 jobs so for youth this summer. >> excellent. thank you. >> a large part of the jobs it did manual resource center started off a a youth program and our first year 35 percent of the young people working full-time we know there the pressors looking for committed young people the resource fair attracts over 6 hundred people if all over the city and the greater bay area. >> we have public and private partnership the employers came from hertz rent a car and many

bp is value.look at it like this, there are growth stocks, there are value stocks, and there are no value stocks. and i'm putting the oils, which everybody suddenly loves, you know, i would love a thesis about why oil is doing better, but jpmorgan is doing well and these things are trading, i mean, goldman sachs, okay, goldman sachs used to be -- remember goldman sack was the premiere place it sells at seven times earnings what are they doing, throwing the money into a chimney >> seven times earnings. >> what does it take to have a seven multiple bethlehem steel had a seven multiple once. >> maybe they want to -- >> what? >> maybe they should go private again. >> go private. that's your answer. >> i'm kidding 66 billion, have to put a premium, that's not going to happen my point is, you're trading at seven times, if you believe in your business model, put your money where your mouth is. >> should be able to buy back as much stock as you want the feds are in their face, not letting them what do the

. >> close to announcing that before the short thing apparently >> yes, maybe bp that could be. >> allskepticism? >> we'll find out at 6:00 when we're watching you, "mad money," 6:00 p.m. eastern time >> thank you guys. >> jim, sue he later >>> good tuesday morning, welcome to "squawk on the street." i'm carl quintanilla with david faber and sara eisen a reopening trade day. consumer confidence on deck. let's get to rick santelli >> yes, carl, unlike s&p, the housing price index making all-time forever highs going back to 1987 this one is a big miss 96.1 is our november read from the conference board on consumer confidence, much lower than the 98 expected sequentially, follows 100.9, so we lose ground there. it is the weakest since august when we were at 86.3 and really shows thaw the covid headlines and the way many states are dealing with new shutdowns and how it's publicized is certainly taking its toll on confidence, and if we look at present situation, it actually is better than our last look from 104.6 to 105.9, where we really seem to drop here is expectations, moves from 98.2 t

and all the policy around covid and all the policy around the economy, that is up to donald trump to bpg into a critical time in the winter with coronavirus cases spiking around the country, something that the president has not been particularly keen to acknowledge during the campaign and now he has to remain president and he stays in the white house or should be staying in the white house. he is a very unusual president and he is quite unpredictable and he does what he feels is best and he always has done, thinks that doing it his way is what got him elected in 2016 and his supporters love him for it. they tell me this when i travel around the country, they love the fact that he does things differently. there is the president walking into the white house a few minutes ago. that is the president and he is back there. quite fun to see those pictures of the white house and the president this moment. donald trump who loves golfing was on the golf course when he learned he has lost the election and now he is back at the white house and he will huddle with his team, and decide how they will

>>but a bp has also just called nevada for biden for the latest on that we're joined now by chip yostas vegas. what's it like out there this morning. >>white big big changes. you just call by the epa came moments after we got an update on the numbers here in the bag talking a little bit later but literally moments after that the a p called nevada for joe biden let's talk about the numbers we put some on your screen right now right now. the biden is leading by more than 25,000 he started the day yesterday leaving trump by only about 11,400 now up more than 25,000 what happens next. well. there are some still issues going on there was a federal lawsuit filed yesterday by the trump campaign or supporters of the trump campaign is actually about thursday that a hearing yesterday in federal court here that didn't go well for the trump campaign they were asking for like to the registrar of voters here to stop using a computer software system to compare signatures claiming that it was inaccurate and wasn't didn't work. that did the judge did not agree that none of the order that to be stopped

>>absolutely marty good morning people are so happy with this moment with bp elect.rris breaking the glass ceiling like she has an inspiring little black and brown girls across the united states hundreds of people out here celebrating in front of her child at home. and it's so incredible to know that this is where the inspiration and the preparation and all those dreams first started they left flowers and chalk messages in front of the home but couple years was born actually in oakland california but raised here in berkeley and as you know she spent many of her years learning and growing here, but also experience a lot of history herself. here is talked about how in kindergarten she was actually blast from this home as a part of berkeley's desegregation program to this school was show you this is 1000 oaks elementary school here in this was a public school in northern berkeley. now the bus and continued into the school's black student body population increased significantly. she's gone on to achieve so much more like graduated from howard university. a law degree fro

talking about saying values are ready to -- coiled spring and we have more people today recommending bpbreak growth is always going to be paramount in the time of covid if there were no covid, we would say value is out of whack that's not going to change the scenario. >> are the futures moving as a function of the election, which is do say is this a -- is this signaling a biden win and people feel like we're going to get an answer quickly, do they think it is a trump win what is this >> i think that it is a lot of part of what you said about biden. that we're going to get an answer quickly not sure which way it is going to get i think people want to get ahead of that. i think no matter who wins, you have a quick dip and you have to buy. the market is simplistic we try to make the market like some sort of einsteinian philosophy are we done with this nonsense can we focus on earnings again people want to buy, so right now people are getting ahead of that i don't know i think it is fatuous. but it is what is going to happen >> jim, we will see you -- >> andrew, andrew, i got to ask you som

. [♪] i've got time i've bp got with 25 jobs so for young people one of my favorite days in san francisco, thank you to the companies that are hiring. >> (clapping.) >> the city of san francisco and united way are calling an employers to have jobs for youth in 2012 president obama issued a challenge and the challenge was get disconnected young people connected to jobs and so mayor ed lee said we should lead this challenge that the city will have 25 hundred jobs that first summer 6200 jobs and been building. >> i'll high are ups we like to pledge 50 jobs so for youth this summer. >> excellent. thank you. >> a large part of the jobs it did manual resource center started off a a youth program and our first year 35 percent of the young people working full-time we know there the pressors looking for committed young people the resource fair attracts over 6 hundred people if all over the city and the greater bay area. >> we have public and private partnership the employers came from hertz rent a car and many private sector jobs sea have the city staff so the airport is here, starbuck's is here w

benchmark wti and that affected all the big oil names here likes of bp and shell under pressure thisng as we saw brent and wti falling a couple% as they rallied hard as well branks a s banks are under pressure today tough trading. i'll hand it back to you, becky. >> steve, thank you very much. >>> for more on the markets, let's bring in joanne feeney and on barbara reinhard is on the line joanne, let's talk about what you are seeing in the futures this morning we saw big gains yesterday and now those gains are continuing today. what does that tell you? >> well, i think that people are expected by the apparent outcome of the election which will be a divided government and so some of the fears that there would be a very left wing agenda that would be faenlgtsed tthe next fn so those fears are reduced and so fundamental companies will drive stock valuations. and so right now, we're seeing tech really do well. it looks like the futures will continue to do well. and that points to the tail wind that is still present which is the move to 5g, the move to more remote work and online and when

the defendants are chevron, exxon, bp, shell, and conoco phillips. these fundsill be used to pay for seawalls and other infrastructure needed to deal with sea level rise. we have some real risk that's going to require some billions and billions of dollars of investment by san francisco on infrastructure if we're going to stop catastrophic loss, so that's what we're looking at. a lot of our developments are occurring along the waterfront. our lawsuit is a part of that. i want to have this abatement fundhat has been created now to ensure that we can fund the infrastructure improvements that we're going to need to ensure that those developments go forward without the threat of sea level rise. scholl: politics in san francisco is funny. there are a lot of really enlightened views. on the other hand, it's probably not enough to prevent the business community from making things even worse right on the waterfront. christensen: we're going to have to adapt. it's going to take that creativity and energy and capital. the question of how do we balance that econ