brian sullivan reports tonight on the economic squeeze from larose, louisiana. >> reporter: the crude oil prices are more than $20 a barrel off their lows. don't tell anyone here in louisiana that there is a recovery in the oil and gas business the industry is still being hit hard. the industry here is different than most other states because much of it takes place in the water which is more complex and means higher costs. costs oil companies don't want to or simply can't pay. which means many of the ships and barges that support the industry aren't working. gulf of mexico oil production is actually up and projected to hit a record over the next two years. but that output is from existing wells. new projects need to be started to get people working again. as the owner of an oil rig repair and maintenance business tells us, $45 or $50 per barrel oil won't restart the industry. >> i was hoping that magic would be $45 for the inland water rigs and it's not. i think we might need $60, $65 for operators to pick the inland bargeries back up. >> reporter: workers had to be laid off and unemp

over now to brian sullivan in louisiana. brian, could there be an impact on oil production where you are? >> you know, i guess there could a little bit if they need to jack up the production and make up for the reported barrels that will come off market. really production is not the issue. actually gulf of mexico production hit a record last year. going to hit another record this year. and it's projected to hit a record next year. you say how is that possible? they're extracting everything they can from the existing wells. so production, they can probably make it up if they needed to. that is not the problem. the problem is price. and at $46 a barrel, whatever the market is not reacting that much. there is no insentive for all the ships that are dry docked behind us that are not supposed to be there, they're supposed to be in the gulf of mexico working on rigs or the marine barge that we're on at $45 a barrel, it doesn't make sense. i know it's jobs friday. all those ships should have crew on them. none of those guys are work

for that story, we go to brian sullivan, with us from la rose, louisiana. good morning, brian. louisiana. >> reporter: yeah, good morning, sara. thank you very much. when the number comes out, the bls outs it out. you dive in, analyze the number, what's the fed going to do. those are ink on paper. come to an area like this, travel as much as we have on this oil story. you meet the men and women impacted. we're on a workover barge. this would go out help repair or refurbish offshore or inland waterway rigs. we're here because it's not working. this company owns 12 of these rigs. only two of them are currently operating. one will end up at the end of the month. only going to have one rig operating. you have about 15 to 40 guyses per rig. multiply this rig, times 12, times all the tug boats and ships we're going to show you all day. those are real people. not working. if you listen to matt moncla, one of the co-owners and founders of the company, you can understand why the unemployment rate is going up when most are going down. >> it's really bad. our business in particular is rea

brian sullivan is live in beverly hills. we'll get to him. melissa lee is off today. the power player, maybe in the world of investing, that would be warren buffett. berkshire hathaway holding the

the retail stock you need to watch right now and brian sullivan at the conference in california withot of big interviews, including former uk prime minister tony blair. scott, back to you. >> michelle, thank you so much. one of the top ranked health care fund managers and he is a raging bull in biotech. let's bring in sam eisley, founder of the world's largest independent investor and sam manages $15 billion. good to see you again. >> thank you very much. >> where do we think this space is going to go? as people sort of evaluating whether some of the damage is done and that these stocks can start a recovery. >> i would like to focus on biotech for you, but keep in mind we are worldwide investors in all subsectors of health care, so there's more to it than biotech, but it's surely an exciting place to be, and it's the volatile place to be. we think there is a good future. >> you say that the selloff in the space was unwarranted. how so? >> you know, defending, warranted and unwarranted is difficult when the companies don't have any profit, but for the smaller companies, recommended --

david: that is brian sullivan joining us from boston.d on a new congressional bill to send a lifeline to puerto rico. passes? before that law man robask congress bishop. will twitter changes attract new users? " comingoomberg market up. ♪ david: this is "bloomberg market ." time for a look at the biggest business stories in the news right now. plans to stepo down after six years at the helm of italy's biggest bank. the chairman will lead the search for the new ceo. bull's wagon is back in court in san francisco today -- volkswagen is back in court in san francisco today. track -- says bw is on vw is on track -- apple has run into a roadblock boosting its presence in india. regulators have ruled apple must comply with local sourcing rules to sell products in india through its own stores. congress took a big step last week, striking a deal with the white house to help rescue puerto rico from its $70 billion debt crisis. the legislation faces hurdles this week as congressional leaders iron out details. we spoke to congressman rob bishop. it

first brian sullivan. >> yeah, it's been a huge day on cnbc today. we had warren buffett and bill ackman, after the break, john chen is going to join us. we'll dive into their business and whether or not they're benefiting from some of apple's recent struggles. john chen coming up. who do you work for? your boss? yourself? your family? our financial advisors are free to realize a plan to fit your family's unique needs. we'll listen. we'll talk. we'll plan. baird. at ally bank, no branches equals great rates. it's a fact. kind of like bill splitting equals nitpicking. but i only had a salad. it was a buffalo chicken salad. salad. >>> welcome back to "power lunch." i'm in beverly hills, california. we have the ceo of blackberry john chen us with. thank you for joining us. >> thank you. >> first off, your competitor, apple, bad quarter, first declining sales in apple. any evidence you're picking up wins from former apple customers? >> no. i haven't really seen that evidence yet. i wish i could. i think the whole high end market is softened. >> so do you

first though, brian sullivan is live in beverly hills with a huge lineup of power players. hey, brian. >> hey, michelle. thanks very much. we're about to kick off two or just under two big hours hat the milken global conference in los angeles. we'll talk about infrastructure spending. is there a chance for a real spend and build. we'll talk with one of the biggest engineering nirms in the world, eric cantor, former prime minister tony blair and will talk to us about everything about the u.s. election and some of the problems in england right now and the chief economist for jeffrey's, doesn't do a lot of tv. has some really interesting ideas about what will happen to central banks all around the world. infrastructure, as we kick off a big two hours at the milken global conference. you're watching "power lunch," and we ear back right after this. >>> welcome back to "power lunch." we're live at the milken institute global conference here in beverly hills, can. you know when you're driving on a highway and whatever town you're living in and it's filled with potholes and the brid

. >> your fellow wisconsin resident brian sullivan sitting right over there asked earlier today ask himice guy from wisconsin cares so much about puerto rico. why does it is matter to you? >> because they are americans, and we have to care about the crisis that's burning in puerto rico, but also if we don't do this bill and you see, you know, 45% of poverty, you see schools that are going to close down, hospitals that are closing down. what is barack obama going to say to us, he'll ask for a bailout and you'll ask wisconsin taxpayers to send their money to puerto rico. >> are you going to set precedent with this bill that will give illinois and other troubled states a path of cover in. >> first of all, we are -- we're not sending taxpayer money to puerto rico, number one. number two, we're not restructuring bankruptcy law. this is territorial law. this doesn't change ilfor or california's ability to file bankruptcy because we haven't touched bankruptcy law which is important to note. this is the right thing to do and that's why more bondholders are getting on board. we've given them a g

along with melissa, michelle and tyler, i'm brian sullivan and thanks for riding along with us today.on the air as stocks are hitting session lotion right now. dow, s&p and nasdaq are losing steam. the dow down exactly 100 points. we begin this tuesday ride with some very interesting things happening in the wild west. stock market, so let's get to them and what

i'm here along with brian sullivan.join us in just a bit from washington. but first, let's kick off what's going on with the markets. more on this thursday market slide with

brian sullivan has the day off. we kick off the hour with a crack in the retail wall.penney recovering after a big drop this morning. the stock down 30% in just two months. that as the retailer reported a drop in sales in a $68 million net loss moving on to nordstrom. it is down after posting weak numbers last night. this stock also dropping 30% in two months. lots of questions on retail including this one. will the stocks recover? bob pisani is reporting on that. we start off with

along with tyler mathisen and brian sullivan i'm melissa lee.as is week off but have no fear mr. wonderful, kevin ole lie is riding shotgun with us over the next two hours. great to have you with us. eric marshall, co-manager of the hodges small-cap found and dav

brian sullivan looking at stacked riggs and falling rates. once we're not talking about the stupid fed. find out what businesses hold for one of the most oil producing states. "squawk box" will be right back. blink of an eye, their tree had given its last. but with their raymond james financial advisor, they had prepared for even the unthinkable. and they danced. see what a raymond james advisor can do for you. looktry align probiotic.our digestive system? for a non-stop, sweet treat goodness, hold on to your tiara kind of day. live 24/7. with 24/7 digestive support. try align, the #1 ge recommended probiotic. e.t. phone home. when you find something you love, you can never get enough of it. change the way you experience tv with xfinity x1. . >>> welcome back, everyone. a massive wildfire continues to burn out of control in alberta, canada. we're joined from edmonton. deirdre, this is something we've been watching closely. it doesn't seem like things are getting much better. >> reporter: the weather has not been cooperating. we're outside rig

kick off the discussion with brian sullivan and michelle ka russ russo-cabrera. >> there's sliding glassrs, 6k video screen and the eyes probably can't pick up. trees planted along its customer support section inside. there's also a public plaza open 24 hours a day. free wi-fi and live music. apple retail chief says it is not about evolving store design. but creating a community for customers and visitors. >> but as -- >> sounds nice. >> sounds gorgeous! as tyler mentioned, should apple bet big on retail instead of focusing on the next big product is? joining us is contributor jan niffen and john fortt and -- january, what do you think of this move? apple is good at retail. good enough move? >> it's not like they can't do both, right? it's the next great store and they have to have the next great new store and now they look like a microsoft store, right? microsoft is opening stores. so they need something that keeps them the best store in the moll, highest productivity, most visited store in the mall. >> most dollars square foot in the country. >> nobody else in the mall drives the volum

brian sullivan has the day off. we kick off the hour with a crack in the retail wall. shares of jcpenney recovering after a big drop this morning. the stock down 30% in just two months. that as the retailer reported a drop in sales in a $68 million net loss moving on to nordstrom. it is down after posting weak numbers last night. this stock also dropping 30% in two months. lots of questions on retail including this one. will the stocks recover? bob pisani is reporting on that. we start off with diedre bosa using a stock tool that says, yes. >> me list yashgs after sulissa go out on a shopping spree. but if you choose wisely, there could be some money to be made. now using a quantitative tool looks at market action. we looked at past occurrences when the retail etf has fallen 7% or more within one month as it just has. that has happened 12 times since 2009. now no clear signal for the xrt itself about half the time it continues to lose ground. but we did find some good individual stocks. now as for macy's, nordstrom and jcpenney, they only post rebound gains of 67% of t

along with tyler mathisen and brian sullivan i'm melissa lee. michelle caruso-cabrera has is week off but have no fear mr. wonderful, kevin ole lie is riding shotgun with us over the next two hours. great to have you with us. eric marshall, co-manager of the hodges small-cap found and david seaberg, great to have you with us. eric, riddle me this. what has changed and why today do we feel so great of a fed rate hike? >> i have no idea. i think, you know, we're going to be in a cheap market here for the foreseeable future just because of all the uncertainty surrounding interest rates, consumer spending and political uncertainty here and in europe and while this frustrating sideways market may be difficult to navigate we're still finding opportunities in the hodges small cap fund. >> where? >> we're really looking at some areas such as some of the non-energy companies that have been beat down over the last six months by oil prices, something like a legacy texas bank share which is a bank that we think is very attractively valued here. the percepti

i'm here along with brian sullivan. tyler mathisen is going to join us in just a bit from washington. but first, let's kick off what's going on with the markets. more on this thursday market slide with dominick chu. >> 168 points to the down side. at the lows we were down about 185, 186 points. so we're off the worst levels of the session so far. but an interesting carry through from yesterday's trade when it was all about the fed minutes and the idea. the possibility of a june rate hike from the federal reserve and that really drove markets kind of a little bit more towards the volatile side. today, most is to the down side in terms of moves. you can see they're off by 1% for the s&p 500. utilities and staples have taken up the lead if can you call it. that up about a quarter to a third of a percent. they're showing signs of life here in this particular down day. the financials are interesting to focus on because so many of them, including regional banks, were such big gainers in yesterday's trade. on the idea that int

along with melissa, michelle and tyler, i'm brian sullivan and thanks for riding along with us today.e have come on the air as stocks are hitting session lotion right now. dow, s&p and nasdaq are losing steam. the dow down exactly 100 points. we begin this tuesday ride with some very interesting things happening in the wild west. stock market, so let's get to them and what they mean for you with dom chu and the steel horse he rides. dom? >> good, bad and the ugly. i feel like watching fistful of dollars and hang them high and also looking at dog in the photo as well but let's talk about the good, the bad and the ugly right now because in today's trade we've seen a little bit of all of that stuff playing out. on the good side of things, we've got transportation stocks. haven't been doing great as of late, but they are moving higher and as of just a few minutes ago 19 out of 20 members of the dow transport index all in the green, perhaps a good sign for those of you looking for positive signs and on the bad side of things, consumer staples, bad on a relative basis because they are still

. >> and brian sullivan is with us, too. >> easy. >> the piece entitled trump taps into anxiety of americans coming out of that. >> it is clear now that these coalitions that are forming, donald trump can only win if he continues to do well with white men and some others, maybe people the white men know. and hillary clinton is building a coalition of groups that have seen their freedoms and resources, women minorities, immigrants. and for donald trump to be as high as he is he may not be as bad a strategy as we all assume. >> we all assumed since mitt romney lost that unless you get 35% of hispanic votes and at least double digits with black americans you are going to lose. donald trump is doubling down on white males. >> not a great long term strategy but may be good enough for right now. i think the question it raises is these white men who need to make a decision about being part of a coalition of resentment need to make a decision about whether they feel in the next america that is coming they are being joined on stage by women and minorities or whether they feel they are being replaced

other clinton aid have been interviewed by the fbi who have an impact with kennedy, jake sullivan, of course brian gagliano who was given criminal immunity by the fed. they all have big-time lawyers. jon: and kylie on oh, his email account at the state department where he works and set up this server for hillary clinton, that email account was empty for years. isn't that a little suspicious? it's totally suspicious. as i've written a column on it@foxnews.com, we invite you to check it out, click on the opinion section. probably i'll use a private account for all the official business as hillary clinton did or he removed or deleted his emails which is precisely what clinton infamously did with thousands of her emails. it's interesting, a former justice department director of public records quoted, it stinks to high heaven. i would say he's probably right about that, sort of a limburger stink . probably otto appears to be the keeper of the secrets and his missing emails reallyóall the secrecy surrounding this. jon: and he was a political appointee at the state department which is a little weird. >>