brian sullivan is at opec headquarters. brian? >> all right. thank you very much.eah, the building behind us, maybe a battle, maybe a fight. maybe a discussion, either way, no deal on output limits were struck. in fact mshgs members were not looking for some. we know, however that, certain nations, ven ez wail yashgs we're looking at you and nigeria

as brian sullivan reports from vienna, today's meeting was not without some dra >> reporter: for the second time in two months, opec members failed to agree to a deal to limit oil production in the hopes of sending crude oil prices higher. unlike the informal april summit in doha, this was an official opec meeting. some members -- venezuela notably -- wanted the group to agree to cap output. prices have bounce observed their lows. nigeria's oil minister told us $50 per barrel isn't the right price for them. >> a fair price for us per barrel this year, hopefully next year. >> reporter: despite the lack of production deals the oil minister from saudi arabia, the first new opec representative from that country in 25 years, talked up the meeting and the oil market. >> we are extremely happy. i think the market is in good shape. the market is balancing. trends are all good in terms of supply and demand. prices have recovered somewhat. and i believe they will continue to recover. the spirit of the meeting is very cooperative, collaborative. all of the ministers see basically the same funda

brian sullivan look forward to the coverage over the next 24 hours. >> who knows. >> brian is live inienna for us, and the closely watched opec meeting. and how much does the meeting matter in the market? >> it matters if news comes out of it and right now sh, no news expected to come out of it either way. to me, opec was never a functional organization, because everybody cheated, and they did what they want to, and there were soft guidelines. it does not seem like saudi arabia, the big dog is going the go with anything, and $60 is not good for saudi arabia, because they will be breaking e en have with the social program, and so in saudi arabia, nobody pays tax, sok look, i think it is a decline. >> $50 is too much? >> too much too quickly. and looking at the pmis around the world, growth is slowing, and china is slowing, and europe is slowing as well. it hurt. >> the last time that brian took a junket overseas wu doha, and that doha trip crude oil was $39 and trying to make the surge through $40 and extend, and it didn't because nothing happened in doha, and very little is expected h

brian sullivan joins us now from the opec meeting.e actually gained an interview with the saudi energy minister. >> it was actually our colleague hadley gamble when they came outside, it's kind of like the oscars of oil i guess in a way, simon, where there's literally a red carpet, people come out and you throw questions out. it was basically, as you said, no deal. for the second time the opec nations were unable to come to any agreement about output caps or limits or production quotas. of course they're all talking about now how it's better because the price of oil has come up in the last couple of months and is up about 80% off its lows so it it makes it a little builtiit easier to do th. after the failed summit in doha, he had been coming to these meetings for 25 years, he seemed like an old pro because as he came out and told cnbc, he played politics well and talked about how happy everyone was. listen. >> we are extremely happy. i think the market is in good shape. trends are good in supply. the spirit of the meeting have coopera

i'm becky quick along with andrew ross sorkin and brian sullivan. joe is off today. ian, welcome. >> thanks. >> check out the u.s. equity futures. better than things were looking on friday at this hour. you are still looking at the dow futures down by triple digits. decline of 130 points right now. s&p futures down by 18. the nasdaq down by 39. it's all been happening as concern over the brexit continues. you can see it playing out in markets around the globe. the currency this morning, check it out pound down at 1.3272. lowest level we watched it trade at last friday. lowest level since 1985. all of these concerns coming an additional decline of 3% this morning. it does come on the back of steep losses of 8% on friday. dollar is up against the euro at 110.29. dollar down against the yen. currency trades we saw based on brexit are continuing today. check out things in asia. nikkei managed to end higher today. it was up by 357. pressure but not like what we saw on friday. dax down by 1.3%. similar decline for the cac in france. ftse down by 1.2% and check out crude oil

i'm becky quick along with andrew ross sorkin and brian sullivan. joe is off today. ian, welcome. >> thanks. >> check out the u.s. equity futures. better than things were looking on friday at this hour. you are still looking at the dow futures down by triple digits. decline of 130 points right now. s&p futures down by 18. the nasdaq down by 39. it's all been happening as concern over the brexit continues. you can see it playing out in markets around the globe. the currency this morning, check it out pound down at 1.3272. lowest level we watched it trade at last friday. lowest level since 1985. all of these concerns coming an additional decline of 3% this morning. it does come on the back of steep losses of

now over to brian sullivan. back over to you. >> thank you very much. welcome, everybody. a point. thank you for sitting down with us. >> thank you, brian. >> you tweeted out we're at 500 year lows. 500 year lows for interest rates. this is a super nova that will explode one day. what exactly is the super nova. >> a star in its last stage. there is no known or certainty as to which way it will go. it's the last were stages in terms of where rates can go. and the repercussions we'll know in several years. >> the super nova, to your point can be an explosion or implosion. to me they're the same thing talking about financial assets. either way you are going to wipe out money. is that what is going to happen? do you think we will see a lehman moment? >> that's not exactly true for my way of thinking. a 250 can still go lower and people can still make money. that is what they have done in japan, believe it or not. 28 basis points. it is the most profitable investment this year or the past several years because the price keeps going up artificially. it can go both ways. i would a

brian sullivan is at opec headquarters. brian? >> all right. thank you very much. yeah, the building behind us, maybe a battle, maybe a fight. maybe a discussion, either way, no deal on output limits were struck. in fact mshgs members were not looking for some. we know, however that, certain nations, ven ez wail yashgs we're looking at you and nigeria and others were looking for higher prices. for the second time in two months, opec mebdz unable to strike a deal. this meeting was also relevant because for first time in 25 years, the saudis set a new oil minister and we heard from him for the first time coming out of the meeting. of course, he talked it up. listen. >> we are extremely happy. i think the market is in good shape. the market is balancing. trends are all good in terms of supply and demand. prices have recovered somewhat. i believe they will continue to recover. spirit of the meeting is very cooperative, collaborative and all of the ministers see basically the same funneledamen. >> a lot to decipher in that short sound bite. our guest is also making a lo

of course on the rhetoric out of meeting our brian sullivan is on the ground with the latest.rning. >> good morning wilfred and dierdra. we might bet changes on production targets. they just had this media scrum where the ministers sit out and you run around and try to get commentary from them. and there is some optimism that maybe they are going to establish either a total production quota or what venezuela is proposing is that every country comes in with a certain range of production cap. is that going to happen? are they going to vote on that? that is what some of the countries are wanting. and the idea in doha was we established a freeze on production. that failed because the saudis and iranians couldn't agree. the iranians are at 3.8 million, closer to 4 million. so they might be more amenable to make a deal. what about prices because that is all people really care about. most countries said $50 a barrel is not enough. listen to this comment from the oil minister from qatar. >> from the interest of the oil industry for the interest industry of long-term security of supply

for a special report on the market's wild ride with brian sullivan and yours truly.in for that. time for the final trade. pete. >> well, i love the way gill lead traded today and throughout the day. the fda's number, the hep c drug, this stock is too cheap. i think it's going higher. >> ole drk is the name we pushed back. now 65. this is a name that's going to benefit from the apple upgrade cycles. the technology behind it. >> tim. >> i like paypay. i think the digital payments are in their favor. who cares about some of that competition. >> guy. >> great job by karina freeman. i have great air product, number two and from 15 feet and in, i can drain it with a best of him. my basketball game. in you have to talk about it. sxwr. >> final trade. >> you ready, pete, because you're going to like this. >> nike and the earnings. >> nike and the earnings. >> again, our thanks to bb and meantime, "mad money" starts right now. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promi

i'm melissa lee along with tyler mathisen and brian sullivan. michelle caruso-cabrera is off today.rexit sparking another big selloff, stocks hitting three and a half month lows. what do you do with your money right now? check where we stand, we are off session lows after friday's 610-point selloff, the dow is down by 254 points. the s&p 500 is down by 35. good for 1.75% loss there. we should note the s&p 500 is below its 200-day moving average

i'm melissa lee with tyler mathisen and brian sullivan. michelle caruso-cabrera is off today.fter a massive selling waver the past few trading days stocks are in fact rebounding today. the dow is up triple digits here, but off its session highs. take a look there 17,298 up by 0.9%. s&p 500 up by 23 handles up 1.1%, nasdaq the best gainer of the three up 1.6%. it is worth noting that facebook, amazon, netflix making big gains in today's session. what may be a point of caution in this

let's bring in cnbc's brian sullivan. that's an incredible piece tom just put together.of this gun. ar-15 is a type of gun. people think ar stands for assault rifle. it stands for armalight, the gun that invented it. there's hundreds of different manufacturers, which is why the price point is so different. 5 million to 10 million homes owned. the sales of this gun doubled from 2008 to 2010. >> why? >> they doubled. >> barack obama's election? >> perhaps. also a financial crisis. people got scared. we don't know. but it was a type of a gun. and it is exceptionally widely owned and exceptionally easy to customize and it's light. >> every time there's a fear of a ban, a false fear of like saying the government coming after guns or the second amendment being abolished as donald trump falsely claimed yesterday, hillary clinton wanted to do, there's always a surge. >> well, yeah. and that's connected whenever there's always one of these events. people think there's a mass murder, there's going to be a ban on them and they rush out and buy them. >> smith & wesson's stock grew 7

that being said, i'm with brian sullivan. i don't think you can take a camp and fail to move on the data that proved they should have months ago to a single issue from the bls that is notorious for their revisions. keep a better eye on the adp number, the gallup poll numbers. the trend is your friend. this is recovery and would not be surprised at all to see a june move and i think this would be in the best interest of the fed to boost that credibility that we just heard about by moving in june. >> we saw in may a very strong usz dollar index that's up about 3%. are we going have a very weak dollar index in june? >> i think we will as long as we don't see it getting weaker in any other countries. of course, the dow is going to strengthen. and so i don't think that the dow will go much higher, but look out what happens with the brexit. >> do you want to weigh in on that? >> first of all, this market is completely unprepare. if we were to get something in june, it would be a stock. the fact that it's stabilized along with oil,

it did not include brian sullivan. he's on the fed will raise camp. let me show you why it will not raise. half of them think because of the weak jobs report and half of them say the fed's paying too much attention to the high frequency data. 15% say thachlt interestingly to bob miss zani ice report 15% say because it's brexit. 5% are unprepared for a hike. moving on, why jobs were seen as weak, half say it's a statistical blip. it's not reflective of the underlying trend. others say it's the beginning of the trend. what are the factors that are impressing the job growth. well, it's seen by 60%. before all of you great mathematicians write in, it adds to more than 100. the economy being at full employment was at second choice. higher minimum wages out there as a potential factor. rising productivity and election uncertainty. we have a couple others on this side. the affordable care act, a skills mismatch. fed tightening, and, finally, the rise of automation. all of this is online. we're looking to see how the fed adjusts their outlook for their own fu

speaking of opec swreshgs to go to brian sullivan. not here today because he's on the ground in vienna, austria. that is the site of the big opec meeting this week. brian? >> michelle, yeah. opec is headquartered right there. that is the headquarters here in vienna austria. there is a lot of interest around this meeting. in fact, you know how it goes. you go to various hotels all throughout the day to day and wait for the oil ministers to arrive. we'll show you videos of the ministers coming from various countries, angola, iraq. you can see the media. i mean literally it's like people shoving, doing this kind of stuff. you're hoping for any clues or comments on what they may be pushing for as part of their aagenda yachlt pretty much everybody is close mouthed. they say we have a meeting tomorrow. we'll give you more information there. i think when we look at the number one agenda for tomorrow, it's what are we going to get? are we going to get basically a production cut, very few expect that. a production freeze, maybe some headlines c

him, not me >> you didn't say that, because that's such a brian sullivan. >> clearly a viewer and geniusinsulated customer dominant business, see 8% to 9% shares growth and 12% share growth and things the brand awareness on tractor supply is growing and calls it a a you unique discretionary retailer. tractor supply is four times bigger than its next bigger competitor. >> in tractor supplier. >> dog food, carhart. 20% upside. btig more bullish with a $115 target. >> raymond james bullish on alaska as it trails third quarter eps on a number of others in the wake of rising field costs. it's alaska's top pick and it will manage the competitive capacity risk well and improve revenue trends. still the price got trimmed from 88 to 105. >> and in the middle of a dealing right? >> yeah. >> virgin, see how that goes. third stock, another airline pick, by the way, melissa and i need new reading habits because it's from the same analyst. >> we liked the note so much, we both liked it and we shared our love for the notes which disturbs me. where we are. >> so nice we read it twice. this one is allegi

plus, the bond king himself, bill gross will join our very own brian sullivan live from the ja nus capitall be right back. because the ultimate expression of power, is control. this is the pursuit of perfection. >>> stocks, bonds, gold all rallying together, so how long will this continue? which is going to break first? find out more on tradingnation. more "squawk on the street" up next. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. >>> with a multibillion dollar valuation in clients like lyft, insta cart, about a third of americans have made a purchase of his product without even knowing it. joining us now is john collison, the co-founder of stripe, company is number 29 on our cnbc disruptor 50 list. john, great to have you this morning. >> good morning. good to be

. >>> discussing production levels, brian sullivan covering the event and brian joins us with more.ch. no word out of opec. they are meeting in the building behind us and we are waiting. it really could happen any time now for some sort of unified statement from opec about which we don't know what they might say. they could carry on like they are which is kind of every country for itself after the dilhof failure, it could come as a freeze. it's unlikely they would cut production, but really what the rumor is and what everybody seems to want is a cap on production. the reason is even though we've bounced 80% off our lows back to 50, most countries we talk to say it's not enough. listen to what the oil industry from cutter told us this morning. >> for the interest of the oil industry, for the interest of long-term security of supply, certainly $50 is not a fair price but a fairer price is needed so that investment is to be reinjected into our industry in order to secure the supply long term. >> and obviously the word fairer is code word for higher prices. they said they would like to

i'm melissa lee with tyler mathisen and brian sullivan. michelle caruso-cabrera is off today. after a massive selling waver the past few trading days stocks are in fact rebounding today. the dow is up triple digits here, but off its session highs. take a look there 17,298 up by 0.9%. s&p 500 up by 23 handles up 1.1%, nasdaq the best gainer of the three up 1.6%. it is worth noting that facebook, amazon, netflix making big gains in today's session. what may be a point of caution in this bounce, take a check on the european banks. see them in the green there, but after losing 20, 30%, we've only got a bounce in deutsche bank of less than 1%. royal bank of scotland up by 2%. let's get to wilford in brussels with breaking news. wilfred. >> reporter: melissa, thank you very much. i'm joined in brussels by nigel farage. congratulations, extraordinary victory last week. >> big event. seismic actually not in terms of british or european policy but even global policy. this was the little people. ordinary people. standing up against the multinationals, the goldman sachs and big politics

i'm melissa lee along with tyler mathisen and brian sullivan. michelle caruso-cabrera is off today. brexit sparking another big selloff, stocks hitting three and a half month lows. what do you do with your money right now? check where we stand, we are off session lows after friday's 610-point selloff, the dow is down by 254 points. the s&p 500 is down by 35. good for 1.75% loss there. we should note the s&p 500 is below its 200-day moving average for the first time since march. as for nasdaq down by more than 2% right now, the nasdaq 100 in correction territory today. investors are in fact looking for safety, no surprise. we have the ten-year yield lower from friday. and that is at 1.456% right now. as for gold holding onto its big gains we've seen in the past couple of days even with a big 1% rally in the dollar index we are seeing gold up by 0.2%. let's get straight to bob pisani on the floor of the new york stock exchange. bob. >> let's take a look at the markets in the middle of the day. we've had a modest bounce since the european close, but not much. 5-to-1 decline that's been

ahead britain split over immigration, americans are angry about jobs be shipped overseas and brian sullivann't replace the full value of your totaled new car. the guy says, "you picked the wrong insurance plan." no, i picked the wrong insurance company. with new car replacement, we'll replace the full value of your car plus depreciation. liberty mutual insurance. i use what's already inside me to reach my goals. so i liked when my doctor told me that i may reach my blood sugar and a1c goals by activating what's within me with once-weekly trulicity. trulicity is not insulin. it helps activate my body to do what it's supposed to do release its own insulin. trulicity responds when my blood sugar rises. i take it once a week, and it works 24/7. it comes in an easy-to-use pen and i may even lose a little weight. trulicity is a once-weekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes. it should be used along with diet and exercise. trulicity is not recommended as the first medicine to treat diabetes and should not be used by people with severe stomach or

sullivan. >> absolutely. could it be any other way, brian, thank you. we're up 42 points on the dow just shy of 18,000.for this morning's exchange. >> good morning, simon. and thank you. and i'd like to welcome my guest bob our guy when it comes to the affordable care act otherwise known as obamacare. welcome, bob. >> thank you, rick. >> well, we are in the presidential season, that's for sure. we have presumptive nominees on both sides of the aisle. so my question's a simple one, whether it's on the tax side slash subsidy side, supreme court side, more importantly, parts that have been delayed yet to be enacted, what will the next commander in chief have to deal with with regard to their first year in office in the affordable care act? >> a whole lot. whoever is elected, he or she, has made a lot of promises, trump to repeal and replace, hillary clinton to improve and probably expand. you know, one of the interesting things about hillary clinton is she has intimated that she might talk about expanding medicare on a voluntary basis down to age 50, so that would be a pretty big expansion of the affordab