national security adviser brent sko skro brent scowcroft and his british counterpart. >>> then how well do you know your world? i'll share some scary numbers on just how ignorant many americans and others around the world are. also, president obama has been called many things this week, but is he a republican? that is what one prominent conservative says. we will have a spirited debate. >>> and the white house has no real solution for syria. the gop doesn't have one either. i will introduce you to a man who says he does, and it does seem to make a lot of sense. >>> but first, here is my take. despite this week's elections, president obama has the opportunity to do big things over the next two years, but they will have to be in the world beyond washington. next week's trip to asia would be a good place to start. in fact, it's odd that obama has not already devoted more time, energy, and attention to foreign policy. it's been clear for a while now that there is no prospect of working with the republican party on any major domestic policy, but if obama seeks some kind of foreign policy leg

we are joined by david pyott and brent saunders. to people close to the company, disappointed in their failure to acquire allergan but said 219 is a big number we had a bigger synergy number they are paying a price we could not pay. how could you justify it? >> fairly negotiated. but most importantly what does it create? one of the fastest growing pharmaceutical companies in the world with top line growth accretion and bottom line accretion. >> again, back to my question, why do you believe -- why are you comfortable playing a high price, one certainly that many of us might not have anticipated a couple of months ago. >> this is the best run company in pharma. i think juf mentiyou've mention many times. for us combine our company with this great company that david and his team built over the years, is a fabulous long-term opportunity to create value for our shareholders. we overlap in three of the four therapeutic areas in which they operate. international operations move into scale, we're able to achieve $1.8 billion of synergies,

it can operate down to backside 58 brent. we're clearly a long way from there, but their balance sheet is pretty pristine. it's about 12% gearing. we think shell can get through this environment in relatively good financial health. now, at the other end of things, we still like dg very well because we see some significant inflexions in their operations coming up over the next year with australia and l&a starting up and with brazil ramping up production during that time frame. >> you mentioned oxley, as well? >> yeah. oxley in the united states is very interesting because they've got about $10 billion from divestiture proceeds. now, over the medium term, oxy does need a higher oil price. but what's interesting is with a pullback in oil prices and equity prices, that buyback program becomes all of a sudden more powerful. >> do you think if the energy prices continue to drop does that -- companies dividends? do you think that will delay dividend hikes or back on how much they offer shareholders? >> that's one of the biggest ques

brent is down 5% at the start of this week and 30% this year.ing with opec our next guest thinks that could be something that was more important psychologically. great to have you on the program, you think we will get a cut despite ideas of it doesn't seem to be a problem out there? cut, inot expecting a believe the commentary that there is not expected to be a cut, if there is it will be modest and it's only impact will forsychological and more the sake of internal harmony within opec and it should not have much of an impact on the market. reflectets are going to response to the supply and demand situation overall. right now it is strongly favoring the supply side. don't getppens if we a cut, will this scurrilous of growth in the emerging markets or will the price of oil naturally catch up in four or five months or will it be the other way and will the market continue being oversupplied and are we looking at shock in the old price? we are looking for at least some. of oversupply. the game changer which is very evident to the markets right now i

cheryl: brent, can we tease to you getting ford into the portfolio? >> no. i don't agree with you on ford. look at balance sheet, too much debt. they didn't take money from the government. i don't care about that now. i care about the company going forward and much rather have gm than ford, i think the debt to equity is six times, if things get on wrong way, ford could be the company that doesn't do so well. there's one we don't agree on. cheryl: real quick to each of you. tim, do you like any of the japanese automakers at all? >> no. cheryl: brent? no, nothing on the japanese. >> no, buy american companies. cheryl: they make good cars. guys thank you very much, appreciate the heat. good to have you both on the show. tim and brent, gentlemen, thank you very much. and both funds performing very, very well. markets can't say are performing well right now. about six minute away from the close, and unfortunately moving into not looking like another record day. but we're also watching this, and stay on the ford-gm thing, the nation wants a recall on takata air ba

thank them for returning matty to brent.rd decision for them because they4hhl know. fall in love with an animal so fast. there is no replacing them. indeed it isn't. i am glad thank you for your service. don, thank you, and congressman, thank you, sir. >> thank you, greta. >> coming up. texas, i want to talk to you off-the-record about something that came up in my interview with george w. bush. that's next. don't forget to watch hannity tonight at 10:00 p.m. eastern. state of emergency declared ferguson, missouri ahead of the grand jury's decision talks to johnson executive director of national association of police organizations. that's tonight at 10:00 on hannity. tess test test test >>> go off the record. after my interviewu with%zéw george w. bush. great job. do so much with our big spotlight. but there are times painfully terrible. dis. this one might take the prize, the october 1 87 cover of "newsweek" calling president bush 41 a wimp. really? by the young age of 22 he had already flown 50 bombing raids in the pacific.

i looked at your calls for wti and brent.is interesting to me is if i sat here in june, they would have told me prices are going higher. what has changed? >> i think there is three key issues that have created this recent downdraft in prices. first is concerns over global growth. it is not so much demand in the global environment, but rather it is a downgrade in the forward outlook. that is the first point. the second point is, we have seen significant increases in supply. look at u.s. shale production, is continuing to surprise to the upside. each year, year over year growth in u.s. production is larger than that of libya. the united states is creating a libya every single year. the third point is, when we look at the strategic case facing saudi arabia and opec against the shale environment, we should expect to see opec be a second mover. when we look at the downdraft, i attribute it to that people recognize you are unlikely to see a cut in this november 27 opec meeting. >> we will get to opec in a second. production keeps s

brent crude. iron ore is up. zinc is up. palladium is up. industrial metals as well as precious metals. all higher. even in the u.s., nucor, vulcan materials. all that on the up side. unfortunately, the history of rate cuts in china doesn't necessarily lead to a lot of move in chinese stocks. the people's bank of china cut interest rates seven times in the last, since 2008, as i recall.

oil, brent and crude. ryan will talk about this later. brent hitting a four-year low. crude hitting a three-year low. is that a tax cut? probably in the states, but not in europe as they like tax in this country. up .3% on bp. keep an eye on oil. they dragged it down european industries recently. >> london up 37% at the open. a higher open in europe. i will take you back in time. i will take you back to the september fourth meetings at the european central bank and the news conference that took place. take a listen to this. >> the second aim is to stir significantly stir, the size of our balance sheet towards the dimensions they used to have at the beginning of 2012. >> has that comment landed mario draghi in hot water with his colleagues at the european central bank? that theeporting national central bank is set to overenge the ecb president secretive management styles and erratic medication. let's bring in bill. you listen to those comments. you think back to that one trillion euro commitment on september 4. >> one trillion euros. this would not matter so much -- you

brent crude being sold off.d news for the global economy unless you are an oil producer. >> good news for gas prices, as well. we are not quite yet on wti at last week's low which was $76 a barrel. we will see whether or not we continue sliding. big meeting at the end of the month. coming up we will fight about retail. it will be bad. tdd# 1-800-345-2550 [ male announcer ] your love for trading never stops, tdd# 1-800-345-2550 even on the go. tdd# 1-800-345-2550 open a schwab account, and you could earn tdd# 1-800-345-2550 300 commission-free online trades. tdd# 1-800-345-2550 so when a market move affects one of your positions, tdd# 1-800-345-2550 schwab can help you decide what to do. tdd# 1-800-345-2550 with tools like free live-streaming cnbc tv tdd# 1-800-345-2550 that give you the latest financial news and trends. tdd# 1-800-345-2550 and bubble charts and price charts that let you see exactly tdd# 1-800-345-2550 how market activity is affecting your positions. tdd# 1-800-345-2550 so when the time comes to

thank them for returning matty to brent.rd decision for them because they4hhl know. fall in love with an animal so fast. there is no replacing them. indeed it isn't. i am glad thank you for your service. don, thank you, and congressman, thank you, sir. >> thank you, greta. >> coming up. texas, i want to talk to you off-the-record about something that came up in my interview with george w. bush. that's next. don't forget to watch hannity tonight at 10:00 p.m. eastern. state of emergency declared ferguson, missouri ahead of the grand jury's decision talks to johnson executive director of national association of police organizations. that's tonight at 10:00 on hannity. (receptionist) gunderman group. gunderman group is growing. getting in a groove. growth is gratifying. goal is to grow. gotta get greater growth. i just talked to ups. they got expert advise, special discounts, new technologies. like smart pick ups. they'll only show up when you print a label and it's automatic. we save time and money. time? money? time and money

that alone will push brent down 2% based on the timing of the headlines.aders i talked to are neutral or slightly bearish on the theory despite reports that the last few hours have a production compromise in the area. adhering to the quota, which are what the headlines are talking about, would not amount to much of a cut the traders have given they are in the neighborhood anyway. so unless there's a substantially bigger production trim, they are expecting brent to hit $75 or less in the wake of thursday's meeting. and u.s. crude to hit at least the $70 arena. again, maybe even lower in what is sure to be a relatively light trading day on friday. the day after thanksgiving day as well. however, there's also an outliar scenario, that a spice production cut by the saudis will catch the market off guard and brent crude oil rips upward by $15 on friday between the unexpected bullish news and the fact that many traders are off on the holiday. but even a move like that is expected to be short-lived. and in the meantime, there's a lot of probably volatility intrad

brents, week eight of decline on the brent market. the longest losing streak since 1988. do anything? volumes accrued 47% against the hundred day average. not only do you see prices decline you are seeing an aggressive shift in terms of volume. if that is not enough to finish he says he quite likes itvron in terms of the oil there will be more deals done as a result of these moves. copper is down the third day in a row. commodities are going to set the tone and the agenda for the potential deals that will be done in 2014 -- i am a year behind myself, 2015. charoline keeping the numbers stable, 2014 deliveries 2.6%,ed to be better, up ,he telecom conglomerate third-quarter sales beat. .hey raised the 2014 target cac up 4/10 of 1%. >> france winning this morning. that is the market open on gdp day here in europe. recession with growth at 0.1%. nice to have you with us. i was thinking about it this slow walks less of a to the edge of the cliff and more of a slow crawl to the edge of the desert for you see a mirage that looks like recovery. >> to me it looks like waterworld e

brent and president fewer. >> (speaking foreign language.) >> and i wanted to thank mr. brent and president fewer for visiting our school at the mission center hedge fund percent of the apartment belong to the elect we're learning about rights and advocate for our children. >> (speaking foreign language.) >> our school is very important to us because it makes us feel safe and the first time that our children can feel safe in a stable environment. >> (speaking foreign language.) >> and we realize this school is the first step to so our children can perform in school can learn new skills they're to help them and give them a foundation so they're ready to live in the new system and the new schools they'll have to move into in the future especially so they can leave behind our stressful past. >> (speaking foreign language.) >> and so is he, reach the ultimate goal that every parent want for their children they can attend college so they can be good people that contribute to society. >> (speaking foreign language.) >> because our children regardless of our immigration status

and person on the pta i'm going to talk about the proposed the webster to the canvas i want to thank brent stevens and i know this is not is an easy task star king is current undergoing our renovation that reduce our plagiarized space been one half san francisco school district has asked to keep them on campus for the renovation not only will the center help with the greening years in planning but important importantly we feel the negative impacts we've been experience since the popularity like the although, more relay will be exacerbated we're on the come back but fragile we have pre k and special day all of which have complex needs and the continued disruption will hurt us our contingent is deeply intertwined with the school we appreciate the difficult position they're in as we are undergoing our transformation by the way, we want to talk about where the plan is injuries us to our bodies we ask you to not relocate the students anothers daniel webster for the city hall year thank you very much. >> thank you. next speaker, please. >> hi, i'm a parent at star king elementary school i have t

brent breaks $80 per barrel. will it break opec? it is so 2013. in 2015.o bitcoin good morning, everyone. this is "bloomberg surveillance." we are live from new york. we say good morning to you. greeley is decidedly off today. it is november 13. i was going to say friday the 13th and then i got rattled because it is thursday. more signs that widespread fighting is about to resume in the u.k. -- ukraine. tanks are moving into the eastern part of the country. the u.s. and europe are considering more economic sanctions. has negotiated a peace plan and then systematically undermined it at every step. it talks of peace, but it keeps fueling more. -- war. >> both sides are accusing the other of preparing to attack. the battle over the keystone pipeline resumes on capitol hill and if likely to have a huge impact on the one senate race that has not been decided. the house votes today on the controversial project. very landrieu of louisiana persuaded the senate to vote on an identical bill. she faces a runoff against bill cassidy. hallelujah.st say, i will

. >> sees brent has brought you more than 130 -- c-span has brought you more than 130 candidate debatesis tuesday night, watch our live election night coverage to see who wins and

brent crude benchmark went from over $100 per barrel in june to less than $80 this month. it is hitting some members very hard. the situation in saudi arabia can absorb the lower prices, the likes of russia and non-opec members iraq, iran and algeria need higher prices to meet their deficit target. venezuela is another country that would prefer prices to be well over the $100 mark. they will meet. >> and we are talking between the opec and non-opec countries. everybody agrees that the price is no good. >> there is an upside -- every 10% drop in price has spurred .1 princes -- per 1% growth. there is also a competitive advantage in ignoring the concerns of struggling opec members. the u.s. set to become the will pose the biggest oil power is also at risk. the international energy agency says that if the price falls below $70 per barrel, u.s. domestic of shale gas becomes unprofitable. >> look at how oil is trading today on the market. the brent crude index, the normal index we used to regulate this, is up slightly in trading but still below the $79 mark. the lowest level in

and look at brent. a lot of folks like to look at it as the global indicator. but here the rules the day is wti. traders are focused on three events. obviously the opec meeting in november 27th. prices want to go lower. >> brian, the spread between brent and wti closing in. what do you make of that? >> well you know what? maybe trade rers just placing in the fact that united states of america could start exporting oil. and that's a possibility. we saw a little with the bhp deal. basically the lighter version of krooud to export. and maybe if the oil gets cheap enough t u.s. suppliers that are pumping oil from the northern part of america need somewhere to go. and the drums are filling up in the south. they got to ship that somewhere. at least the market says maybe we we start to export. >> in the meantime a commodities and oil are going lower, equities going higher. we're talking to tony dwyer, he is going to tell us where he sees stocks going. all online futures.cnbc.com. >> we'll be there. it's not often when cnbc's resident skeptic raises the green flag on a

brent crude 82.43.will be a big focus for markets throughout the trading day today. >> thanks. shares of alibaba higher this morning. company reporting a better than expected 54% jump in third quarter revenue thanks to continued growth and online shopping transactions, increased ad revenue. those are part of the mix at alibaba which is the dominant provider of e-commerce in china. we spoke with executive vice chairman joe tsai on the big driver of traffic, the move to mobile. >> last year we were at less than 0.5% and we've been slowly been able to take up that take rate on mobile now to 1.78% -- 1.87%. that's something that we are looking at. we feel pretty confident over time in the long run monetization is going to be pretty much the same as desktop. the way we look at the business, there is really not a huge difference from a user standpoint when they come to the desktop computer or when they come to a mobile screen. when they come, they have very strong intent to buy something. we are generating $9

brent says cat models can earn up to $50 an hour, but once a pet agent gets animals a gig, it's up toers to make them perform. i wonder how much of a cut he gets. >> i would think perhaps 10% sounds a bit reasonable. what i do know? >>> free sale tickets for the taylor swift tickets are on sale for november 21st? free sale begins at 10 a.m. the concert, by the way, is not until july 13th. >> when you tease me about that, all i'm going to do is just shake it off. >> you should. >> my daughters love her, i'll tell you that. they're already clamoring tickets. >>> temperatures right now, it's like we're in the future, like we're january, 40 downtown, but 30s in the suburbs, 34 at leesburg, 36 in gaithersburg, 37 in manassas. on futurecast we'll show you what it's going to be at 7:30, right around freezing north and west of town, upper 30s downtown. if you go out tonight, a hat, coat, gloves is not overkill. by 10:00 it's 30, leesburg, gaithersburg, manassas, 31 in la plata and fredericksburg, 35 downtown. we'll come back, talk about the forecast the rest of the weekend and look ahead to n

brent down by 5%. $82 a barrel on brent. the dollar strong, commodities are week.>> thank you very much indeed. let's get details on what has been happening vis-a-vis russian central bank. ryan chilcote joins us. we've seen the ruble moving on the back of the announcement we had. explain what the announcement is. >> the central bank has announced they are going to do two things. limit their rules-based interventions on the market to $350 million per day. one intervention per day. they used to do these interventions, you could have several a day. they were telegraphed. they would move the band by fice kopecks forever $350 million. they have said we reserve the right to move the market at any time. that is not rules-based. they can move in when they want. >> we've been talking about the possible free-floating of the ruble. is that blown out of the water? >> most people seem to agree that we are moving closer to a free float in their policy. the central bank is sort of telegraphing they are willing to speculators. goldman sachs thinks the ruble is going to stabilize.

we had wti crude a little higher than brent crude. brent is the international price for oil. and brent crude is very much in bear market territory year to date. opec producing way more than the world needs at this point. and with other players like the u.s. and russia, out there producing as well. now opec doesn't have as much influence. only 40% of the market. they needed to cut somewhere, at least a half million barrels a day analysts are saying 1.5 million would be more credible but that's not likely. some reports from russia say russians are willing to cut 300,000 barrels a day if the saudis and the rest of opec cut. but when asked about a cut at the meeting this thursday arriving in vienna, he says, you know, we've had oversupplied markets before. that's not unusual. >> thank you very much for that, bertha coombs. we'll bring in john, our cnbc contributor and founder of capital bank. you are not expecting the counter production. >> i am not. there's been a lot of shuttle diplomacy but i'm sticking with it. it is just not there. >> yeah, but you're getting the pressure fr

he said you have to watch brent. take a look at how brent has performed today.is what happened as brent drifted lower we have seen markets drift lower, as well. that is what is happening. we are still in record territory and materials are leading the way because of the rate cut out of china giving a lift to the stocks. allegheny. the other story we have been talking about are all of the earnings that came out from a number of retailers. the fresh market and zoe's. both were impacted by higher food prices. that squeezed their margins. the fresh market saying it absorbed some of the costs in order to keep sales going. zoe saying higher beef and poultry. game stop not only cut forecast but also reported weaker than expected results. crediting or saying the problem with the third quarter was because of a delay in a game called the assassin's creed unity. so evidently that cut into earnings for the third quarter. it is under a lot of pressure. >> 13%. >> ahead of christmas you didn't hear them say anything about holiday sales. >> we'll see how they do. now to bertha

take a look at brent. down about 0.1%. unchanged right now in asia. the chart shows you the real story overnight. opec said, we are not going to do anything. let me get you the price, down 6.5%. 72.46 is the price of brent for a barrel. back to you. >> ok, oil prices front and center today. we have seen the price of crude fall to the lowest since 2010. opec refusing to cut production. put another way, saudi arabia blocking any idea of a cut. what has been the reaction from the other members? the fundamental picture is a global price war. shale oil production in the states is booming. they can't afford that, it becomes a price war. they have to keep production and prices down. it makes it harder for the u.s. to keep producing. >> three-decade high in the u.s.. >> only chinese demand slowing down across the economy. under pressure. within the 12 members of opec, saudi arabia, kuwait, qatar, than really need more strong foreign-exchange reserves. venezuela, nigeria and iran do needed. they rely heavily on crude exports to keep the money coming in. venezu

about oils.k andare talking about brent, the arab basket crude is priced off of brent's north seed, thenou have west texas intermediate, which is our national price here in the united states, and it is about four dollars cheaper now than brent is. i am going to answer your question. that today you are selling oil in the permian basin $72 per your for selling oil in the balkan up in north dakota for $69 a barrel. you are selling brent north sea at $82 a barrel. how much lower can you go? i do not think you will go down to $70, but you can get down in the 70's. you have a very important opec meeting coming up this month. i think on the 27th of november. you will find out there if they will cut the supply to get price up, but advice to the industry in united states -- you have drilled so many wells, you have been so efficient that you have more oil than we need right now, and consequently the price has come down. >> do you believe that the declining price of oil could start to create geopolitical instability? our economyustain with oil prices dropping and dropping? or is the answer -- who c

domestic crude is going to be less expensive than brent. and where the opportunity lies for the american consumer or for delta airlines is hopefully we have over time more moderate input costs. >> here's the questionment and you heard that this morning when you were at cbs. people wonder if oil prices are going down, why aren't planes, why aren't ticket prices going down? >> well, but you've got to start-- . >> rose: because when oil prices go up, ticket prices go up. >> think about it from this standpoint. if you just think very simply about what the real price of an airplane ticket with fees is today, we see that data, everybody follows that data with dot. it's still an incredible bargain. and ultimately. >> rose: but that's not the question, it is an incredible bargain. the question is if you charge more, if oil prices are up, why don't you charge less when oil prices are down. >> well, you're going to-- there will be some impact by in terms of input prices over the market. over the long run we've got to be able to have the cash flow to

brent, look at that, down 2.5% to 78.42 at four-year lows.nd nat gas is already down, brian, 11% from monday. today alone down 4%. >> good news at the pump. >>> also good news for walmart. in fact, a very big day for walmart because the retail juggernaut posted its first u.s. same-store sales boost in nearly two years. courtney reagan is here now. courtney, what is your biggest one or two takeaways from walmart's quarter? >> i think that the walmart quarter, the message was sort of this cautious positivity. there were things that were good and bad. walmart beat analysts' estimates on both the top and bottom lines, reporting $1.15 a share. u.s. same-store sales did gain 0.5%. that's the first positive comp in seven quarters, but traffic fell for a third straight quarter. e-commerce sales grew 21%, also a good sign. walmart's u.s. ceo says that traffic trend is improving, adding the company suspects it's probably the benefit of lower gas prices. according to chief financial officer charles holley, it's hard to know exactly how big that benefit

get to work tomorrow. >> thank you brent. next would hear from marjorie dannenfelser president of susan b. anthony list. >> thank you richard. while the bottom has fallen out of the abortion center war on women's strategy. why is that? it is just the truth that women don't agree with the shrinking ranks of me were all that unlimited unrestricted abortions are the great liberator for women. that did not hold and that is why we will not see again an election fought on the democratic terms in such a manner where abortion is at the center of the scene. american women and frankly all americans are tired of the politics of division that have come from that elite guard at emily's list in a row. consider this. emily's list endorsed women chose to remain silent on the issue of abortion this election. that is unheard of. it used to be only for republicans in previous elections that did that. why did they do that? emily's list and campaign consultants told them to button it up on abortion. don't speak of it because you will be out of sy

standard slashed their forecast and made the case for brent. we're looking at perhaps $68 for the first quarter next year. long a supplyhow glut will stay and who cuts first. prices -- hello do prices have to get for them to actually start saying it's to being profitable anymore continue drilling and producing all this oil. that level is near are below $60 a barrel. goal becausee production costs are so high. >> about 60. the short-term will likely see oil fall further before it actually picks up. >> take a look at currencies, which ones are taking the biggest hit right now? but you look at the small countries, it doesn't mean that all this is in the interest of opec. the ruble is at a record low. of norway is the biggest oil producer in western europe. that is at a five-year low. longer. gets >> in terms of the equity space, what are we watching? >> think of cnet and petro china. >> the margins are squeezing significantly. on the flipside, airlines having a rough time. , itn airlines, for example means lower prices for us on the road. >> regar

brent bouncing back 73.18.ick in london with the latest on that. >> i want to give viewers an understanding what happened with the oil producers. is there going to be a cut, maybe 1.5 million barrels a day. there were analysts who thought there would be a cut. more and more the ggc felt isolated. the ggc isn't the whole of poe selke. it's the saudis, the kuwait and qatar, as well. they were expected to take the whole burden. earlier in the week we saw russians and mexicans in town. if they had contributed, that would be 50% of global producers enforcing some form of cut. okay, it was opec. you had mr. ramirez of venezuela crossing the globe going around all the hotels trying to get a deal. i had a chat with him. they said yeah, we are getting towards a deal with saudi. of course is dissipated in the last 24 hours. why? one clear reason. saudis said hang on a second. the world wants a cut in production. russians want a cut in production. iranians want a cut if production. but you are asking us to do all the work

brent crude under $80. >> that is a big part of the story.or of the industrials group are all moving higher. oil prices continue their descent now moving below $76 a barrel for west texas intermediate. the top five gainers in the transport are airlines. united continental, delta, jetblue, alaska air leading the way higher. a good day for the nation's bigger carriers. when it comes to the s&p, there are only two, southwest and delta in the overall airline sector. still the industry group doing well today. >> shares of dreamworks animation spiking on news the toy maker hasbro is in talks to acquire jeffrey katzenberg's film studio. hasbro toys already starring in a number of movies. ear ying handler joins us saying he has significant reservations about the deal. good morning. thank you for joining us. >> good morning. thanks for having me. >> i imagine if you are very talented and creative working at dreamworks, would you want to work for a toy producer? >> i think there is a bigger issue here. this is not a good fit with hasbro and dreamworks

for the quarter both brent and wti crude prices are down 25%, over 25%. that is just in this quarter alone. if that continues for several months out that is really going to be very tough for producers all around. of course, you like to see this. it's pretty good news for folks at the pump. we are at $2.79 a day for the national average. >> i filled up on the way to the mall the other day. it was a fun experience. >> before i got to connecticut. >> i am worried about some of the hedge funds and guys with big oil positions. a 10% move in one session. >> if you are on the wrong side that can hurt. thank you very much. we want to get another channel check with our two producers roaming the mall with a tough assignment. tell us what is really going on out there. last time you were with us you were saying you are not that impressed with deals being offered here. is that still the case? >> it is true. i will say that the shoppers are coming out in droves. in the last hour traffic has picked up significantly. >> and picking up from bertha's report, some of our sh

brent at 83.6. we seemed to have declined from the start of october, down 27% since the peak in july. astonishingly big moves in the oil prices. gold is at 1166.5. >> and wti is back, but we'll talk about that more later on in the show. >> let's give you a rundown of what to watch this trading day. significant trade deficit numbers and orders are out at 8:30 eastern. alibaba reports its first results since its blockbuster ipo before the opening bell. we also get earnings from adm, burger king, estee louder and michael kors. according to media reports, they're looking to raise $1.2 billion. the sale could be announced today and deutsche bank and goldman sachs have been higher. >> in the last month, they announced plans to -- the face of competition. however, hailo has launched a feature that allows you to pay for taxes on the streets in london. plus, it's been reported today they're ramping up their battle for market share with uber in ireland. >> and seema has been talking to a number of big hitters

. >> sees brent has brought you more than 130 -- c-span has brought you more than 130 candidate debates. this tuesday night, watch our live election night coverage to see who wins and loses and which party will control the house and senate. our coverage begins at 8:00 eastern. you will also see victory and concession speeches. throughout the night and into the morning, we want to hear from you with your calls and facebook comments. campaign 2014 election night coverage on c-span. >> each week, "reel america" brings you archival films that help tell the story of the 20th century. 50 years ago, on august 27, 1964, president lyndon b. johnson accepted the presidential nomination at the democratic national convention in atlantic city, new jersey. less than a year earlier, lbj was sworn in following president kennedy's assassination. he would go on to win the general election against barry goldwater. next, president johnson's speech, in which he outlines the goals of what he calls a great society. this is about 30 minutes. >> he has a message to give to you and the american people. [applause

brent crude cost about $32 right now. >> here in germany, the price is way down. the main reason for the price drop was strategic oil reserves, especially in the u.s. are full and opec members have not been cutting back production. there was no sign they're planning to. it is single stay in china and that means that the chinese have been on a shopping spree. online retailers are offering huge discounts. they have risen to the challenge. alibaba says it sold some $2 billion worth of goods in just an hour. that 45% of those purchases were made on mobile devices. 80% of china's online retail sales go through alibaba's platform. a retail avalanche for the likes of aly baba. we go to the frank for stock exchange with more. >> gross figures have been reported by aly baba and they seem to be impossible to reach for german companies. nevertheless, german companies think of that business shopping will take place in the internet, that internet retailers will benefit from that while the traditional retail business will suffer. the market in general has been very low, trading

brent below 79. in terms of weekly losses we are on track for our seventh weekly decline.ongest since '86. what were you doing then? >> i was being born. >> exactly. it's been a while. stunning deflation in energy, john. >> 1986, i think we were doing the stock picking contests in school where it to -- >> the dow is up almost 100 points. but then the russell started to underperform and we did lose some steam. the s&p still roughly flat. >> dow holding up. >> thanks to walmart and cisco. let's get to scott wapner at headquarters with the half. >> carl thanks very much. let's meet the starting lineup for today. josh brown, stephanie link, joe terranova and jon najarian, and also joining us is the zach seaward. and we begin with ceos in the hot seat. dick costolo,

brent today, wti, brent has a real -- >> that's a huge problem. back to the retailers, we could all be happy about there's no disappointing. they didn't say discounting was an issue. >> no. growth margins rose 100 basis points. >> they were able to cut costs and have their margins intact so they're not discounting. last year all about discounts. >> inventories are also not as fat as they were because they're cautious going in. holiday season. what's going to happen, not going to be deals and seen the research now. best deals on monday and thursday. i think we should call that by the way, selfish thursday because it's selfish on behalf of retailers to take you away from your family. >> they don't see your point on crude and on oil, they don't have to discount so i thought it was her statement and stephanie i'll give you credit. >> i'll take credit. thank you. >> retailers see we got that money back in the pockets they're not forced to do the same discounts of last year. >> what can you tell from the early days here so far, is it an apple christmas?

. >>> brent crude down almost 30% in six months. oil, dig, they follow oil down 25% and 19% respectively. xop covers the drillers and explorers. it is down 21% in just six months. jackie deangelis live to the where oil is recovering. >> that's exactly right. we are recovering today. let's make no mistake here. this is technical buying on the weakness that we saw especially yesterday. traders are saying fundamentally nothing has changed here in terms of supply unless we see opec make a move on november 27. the levels that we are watching wti trading over 75 but not far above it. brent crude not able to get over the $80 level. that is a key crucial level for the trade. you had a dollar index at the 88 handle today. it was very strong earlier in the morning, still not able to push crude prices down. that shows you the technical strength is going to continue. some traders telling me wti could go to 77. if we don't see the supply cuts we will see a major leg lower from here. back to you. >> thanks. >>> just eight years after the first fl

and brent absolutely rips on friday up as much as $15. now, if that happens, that could catch a lot of people by surprise and obviously it would be a particularly volatile day with people on vacation and whatnot, a little less liquidity in the market. but even if we have the bullish surprise move, it's not expected to last terribly wrong. bearish fundamentals, sue, but a lot of leaks here and there. and it could be a while. >> kate, thank you very much. we appreciate it. kate kelly reporting on that. >>> now to ferguson, missouri, where we have scott collin live on the developing issues in this particular story. i know there's a news conference going on, scott, what can you tell us? >> translator: if you recall yesterday, we just about this time yesterday were learning that the grand jury that was investigating officer darren wilson in the death of michael brown had reached a decision. and preparations were gearing up for the potential protests. well, you can see what this scene looks like today. that's the public storage facility across

brent moved up. the s&p moved up a bit. speaking of energy stocks, a lot of comments from energy companies. eog, their drilling program will remain profitable and they talked about numbers much lower than that even in the $40 oil range. they have 10% profits. got a lot of comments this morning up 6%. pioneer natural resources talking about production growing in the u.s. regardless whether oil is $70 to $80 they grow production through 2016. i think that is happening because they are doing an equity offering so there are concerns there. we have stocks at new highs. a lot of people asking if there are bargains out there. i can tell you that gold stocks are in historically oversold condition. i mean way off the charts oversold right now. that doesn't mean they are necessarily a buy but oversold i haven't seen levels like this in a long time. another group is in the materials group. iron ore stocks have been oversold for a long time now. i don't mean to buy them you have to believe it is a play. >> they are dramatically oversol