brian sullivan is on assignment today. let's get you up to speed on the market action. you're seeing green, it's not strong yet but better than yesterday. the dow would open up by 27 points the s&p by 5 the nasdaq by 29 on the treasury side of things, just a little bit of action in the ten-year u.s. treasury note. 3.17%. so a slight tick higher. the two-year note yield, 2.87% now, turning overseas. we are seeing action in asia as well you can see there that the nikkei in japan, 1.25% gains there helped along in part by a stronger u.s. dollar and a weakening japanese yen

i'm sitting in for brian sullivan today who will be back next week.et's check in on the market action futures pushing higher following yesterday's wild ride on wall street we're higher by half a percent or so for the three major indices. that's 13 points on the s&p. dow up 19 points nasdaq up 15 points. the dow was down 566 points at the low, it was significantly higher at the open overall a 918-point range. the biggest since february as you can see, the high of the day came near the open, an hour into trade, the low about a half hour from the end of the session. only a strong rally in the final half hour of trade allowed us to finish down what was essentially about 0.5% for the s&p, 1.6% for the nasdaq 1% for the dow the range on the s&p intraday yesterday was the low of the day, down 2.8. the futures call for the dow to be higher by 94 points the overseas picture not too bad. reacting to the final half hour of u.s. trade as opposed to the lows of the session. hong kong down, as you can see japan and shanghaiare up over 1% we'll drive into asian trad

brians sullivan i on a shell rig in the gulf of mexico off of the new orleans coast for us tonight. >> we got a rare andxc broadcastingsive opportunity to be on one of the biggest platform in thed,wo the shell ofrpis in the mars field 130 miles out of the gulf of mexico. new orleans is that way. and this is a fascinating world because as a ceo of told us. everythingbout the deep water gulf, the well headbout 3,000 feet down tha way is bignd expensive process. a platform like this, over $1.0 billion. shell has a new one rolling out next year, investing 3 billion over the next five years. and aftri the of oil collapsed a number of years ago, the whole deep wat offshore industry really had two options get smarter about covers or go and the head of shell's global deep water operations told us they broughthe price from a barrel of crude from $75 on their cost way down to about $4ee today we've able to bring the costs down by anywhere from 45 to 55%. whoa you look at an activity today is won't screen in for anything more than a $40 break even price processon verage we are running just momen

for "nightly business repor i'm brian sullivan. >>> ford sales fell sharply in china. that is where we begin tonight's market focus with a 43% decline in sales in september. it is the third s aight month clines. auto sales in china overall dropped the most in nearly seven years. analysts say they are concerned the chinese demand for cars coul f contract for thest time in decades as economic growth continues to sl s. fores fell nearly two percent to $8.64. >>>pnc financial reported a rise in quarterly profit but loan growth was disappointing. investors are expected to see lenders benit from higher borrowing by businesses as those firms take advantage of their ne lower tax rate. shares were off more than five percent to 124.26. >>> general electric has delayed therelease of third quarter results by almost a week. the company says it will g ne th ceo more time to review his businesses. and jpn mor analysts argued that the company did not have enoughr assets cash flow to pay down liabilities. share of ge fell to 12.32. >>> bristol-myers canr drug was being tested on lung c

. >> i'm brian sullivan. the shale oil boom. midland it texas. the higher rates and lowha pric been great for the industry. but coming up, why many are concerned if rates keep rising all the debt the industry is based on will come back to haunt it. >>> we note it's your favorit segment here is what to watch for tomorrow. earnings from jp morganci group and wells fargo are due. attention will be paid t growth and interest margins. with the central bank rates and inflation in focus, investors what a number of fed officials have to say about the economy tomorrow as well. and we'll get a fresh read on consumer sentiment which has been a driving force behind spending. wand that'st we watch for on friday. >>> the postal service is oposing the biggest stamp price hike in history. to help shore up the finances. under the proposal qb the kwoft of a forever stamp would rise from 50 cents to 55 cents. the request from the usps board of gover must be proved by the postal regulatory commission. >>> well, starting in january, social security recipients will se

thank you, brian sullivan. >>> coming up, taking stock with teens.ber one website may surprise you rewkll" ls aninesth the minutes. >>> welcome back releasing a fall survey on teen consumers, looking at what's leading the results, instagram, most used social platform. facebook and snapchat continue to slide nike leading apparel and footwear amid the ad controversy. joining us, piper jack, senior research analyst, erin murphy. >> thanks for having me. >> we talk about millennials what are the trenlfriends of thx up and coming consumer >> it is a powerful demographic. when you look at the trends, one of the interesting trends in data, teens are spending more than they have in the past on food and eating out. that's their new way of socializing. also in video games. and then for women, beauty remains an important category for this demographic >> one of the things that jumped out is this the idea of revival of 1990s-esque brands. should i pull the doc martins out of the closet? >> you can bring them out. we have seen retro, throw back '90s brands, tommy

mike bradley is joining us now with brian sullivan live in houston, brian, over to you. >> reporter:s very much we are in texas, we'll talk about oil, we were in midland yesterday. the oil and gas sector has been the hardest hit sectors for stocks in the market of the last couple of days the big question is of course, why? when you got oil at 72 bucks or 75 bucks a while why has oil and gas stocks have been hit the last several days when you got it above $70? >> it is a really unloved group. it is a group that people sell off the bat if things start to south. it has been out of tariffs for the last three months. it pulls back 25% of the reason. >> you had some big name stocks, marathon and mro down 11% in a week does that deserved to be whacked when $70 was high. now people are freaking out because we have gone down to 70. a lot of these stocks are down 15%. >> it is unwarranted these stocks are good buy. >> exploration of production >> we think it is going to be a great group to hold them over the next few years in terms offof capital issues it is something that people are not looki

brian sullivan watching oil.esident, he isn't easing up on his attacks on the fed chair. >> it's been a drum beat against the federal reserve and jay powell the president giving an interview to the "wall street journal" yesterday afternoon and continuing to heap criticism on jay powell saying -- he said he thought jai powell would be more dovish he says he was supposed to be a low interest rate guy. it's turned out he's not so the president there suggesting he's disappointed in his performance. the president complaining about interest rates more generally and comparing his era, the trump era to the obama era saying i'm just saying this, i'm very unhappy with the fed because obama had zero interest rate so the president very much regarding this as a competition between himself and his predecessor in terms of who can generate the best economic performance despite the fact that these two presidencies are occurring in very different parts of the economic cycle and i should add, guys, the president also talked about t

i'm brian sullivan here's how your money and the global markets are setting up your day not a big indicationn futures. they're down here, but a lot of things could change. it's early it's thursday. call that a flat market. not so flat. the yield on the benchmark ten-year is ticking back higher. we were at 3.25. we came back down. now we're on our way back up again to 3.21% we'll get a view coming up on how the banks may like this number right now your big money story on this thursday is china. another big drop for that market red arrows all across the board in asia, led by a big tumble in the domestic chinese market. the shanghai composite down 3% another four-year low for china. much of that weakness driven by the yuan, hitting its lowest level in two years after our treasury department did stop short of labeling china a currency manipulator, but said it is keeping close taps and watching beijing and i currets currency closely we are seeing a mixed market in italy. the big european story, a lot of worry there, down fractionally but a rebound in some of the major european markets here's a gl

brian sullivan is on assignment. futures are pushing higher after the dow dropped 680 points in yesterday's selloff. the dow and s&p negative for the year, the nasdaq is coming off its worst day since november of 2011 200 points to the upside, that's where we'll open we'll have to triple that to get back the losses we had from yesterday. full team coverage of the global market turmoil asia reporter nancy hungerford is live in singapore our european correspondent, karen tso is in london and cnbc contributor gina sanchez is ready to kick off the u.s. action. let's begin with nancy and the plunge in the nikkei overnight >> over in japan it was the worst performer of the major markets here in asia look at this move to the downside 3.7% that brings the nikkei 225 to a seven-month low. very much feeling the pain we saw on wall streetover night, spill nothing that session some big names in the tech space, similar to what you saw on wall street dragging that index lower, especially for the semiconductors that's a story we sa

brian sullivan is on assignment today.'s get you up to speed on the market action this morning and it is red. negativity out there as the dow would open up down by 211 points if things stand the way they are right now into the opening bell. we're going to have more on the markets in just a moment, but first some breaking news in the retail world sears officially filing for bankruptcy protection. let's get right to contessa brewer with all of those details. contessa >> sears holdings, the parent company of sears and k-mart filed for chapter 11 early this morning succumbing to a mountain of debt. the filing came as sears faced a $134 million debt payment today. the company reached a deal with its creditors to keep most of its operations running for now sears will close 142 money losing stores by the end of the year with liquidation sales expected to begin soon that's in addition to the 46 stores expected to shut by next month. the company has roughly 700 sears and k-mart stores and employs about 70,000 people. sears controll

this wednesday, october 24th as "worldwide exchange" begins right now ♪ >>> good morning i'm brian sullivanhank you very much for joining us we'll get more on that mega millions story as one family becomes an instant billionaire but they may be the only ones happy financially right now because it's another weak day for the equity markets dow futures have come back a bit and indicating a drop 155 points s&p and nasdaq futures are also significantly down all of this after the market almost came back all the way from a 500-point drop yesterday. the european markets are higher across the board not by a lot but by a little the asian markets closing higher after a turbulent morning there. no big gains, but we are seeing slight gains and at least it's not multi percentage points drop let's kick off the action with nancy hungerford live in our singapore newsroom for you nancy? >> hi, brian what i can tell you is just in the last few hours this story did change we thought we were looking at a bigger rebound in asia and momentum faded in the afternoon session. we did get a positive close for the shan

. >>> good morning welcome from wherever in the world that you may be watching i am brian sullivan. happy monday thank you very much for joining us well, the theme of the stock market the past few sessions has been the selloff in bonds, rates rising and the squeeze on stocks that is probably going to take a break, at least for one day. the u.s. bond market is closed today for the columbus day holiday. stocks are open. you can expect lighter volume. right now futures are indicatin a down move. it is early. volume is light. that can change. no bond trading today. rates at least for today are going to stay on hold. european markets though are open they are down. italy the notable standout the italian market is down 2%. 2.5% bond yields the story for different reasons. their budget deficit and some of the economic concerns there. the italian stock market continues to tumble. we're seeing big moves in china. in fact, bigger than italy the shanghai composite is down nearly 4%. down 3.72. the hang seng and korean market are down as well remember, the chinese market has been closed for all

good morning welcome to "worldwide exchange" live from london i'm wilfred frost sitting in for brian sullivanet's get to the early market action for you futures are pointing higher. a decent bounce yesterday. we saw markets close significantly higher after what has been a wild ride during the month of october for markets called higher by 165 points or so on the dow. the nasdaq higher by 79. the s&p by 21. yesterday we were up 1.6 for the s&p and nasdaq, 1.8% for the dow. this is the last trading day of the month. markets very much lower. 6% lower for the dow 8% lower for the s&p nasdaq down 11% for the month of october. it looks like we'll end on a positive note. facebook shares are higher the social media company reported a mixed set of numbers. but profits topped expectations. revenues and user growth did slow we have it up 3.4% in after market trade let's dive in to those numbers on the cnbc news line. victor anthony joins us. good morning to you. thanks for joining us. clearly the headline revenue disappointed a bit the operating margin, with all the focus we've had over the last six mont

i'm sitting in for brian sullivan who's off on assignment elsewhere.'s check on markets here's how the early money is setting up futures pointing to let's call it stable. that's got to be a win for a lot of folks out there the dow opening up by 19 points. the s&p up by 5. the nasdaq up by 33 or so. on the asian side of things it is mixed but a key market is still very much in the red and that is china. you can see the shanghai composite there down by over 2%. the hang seng and hong kong eking out 1/3 of a percent the nikkei down 2/3 of 1%. much more green on the screen over there we have the major markets like the dax and germany. the ftse 100 up by 3/4 of a percent and the footsie mib and the ibex is up beyond the equities side of things, treasuries with a ten year u.s. treasury note shaping up as follows. just a hair lower. 3.06%. the 2 year note 2.79%. we see the macro trade playing out a little bit more as well. we on the energy side of things see crude oil, wti at 67.16. that's off by 2/3 of 1%. ice brent crude futures, $7.10 also about a 2gs 3 of

brian sullivan is on assignment.leading cnbc.com wall street awaiting a slew of earnings you have blackrock, goldman sachs, morgan stanley and dominos all set to hit the tape before the opening bell. after the close keep an eye out for netflix results. more on that later on in the show >>> twilio is buying sendgrid for $2 billion in an all stock transaction this comes as part of a larger effort by the cloud company to boost its suite of communications related tools the deal suspected to close the first half of 2019. >>> secretary of state mike pompeo arriving in saudi arabia just a short time ago. this as questions mount following the disappearance of journalist jamal khashoggi the saudi stock market tumbling again this morning we'll bring you more on this as we get details >>> let's get you up to speed on the market action. futures are pointing to a slightly higher open we can see the dow opening up by just around 27 or so points. the s&p up by 2. the nasdaq up by 24. the treasury side of things, ten-year is yieldin

i'm brian sullivan so nice to have you here thanks for watching.ere's how your money and your global markets are setting up. futures are down over 100 points after yesterday's big gains for the markets here and big gains around the world dow futures down 104 s&p and nasdaq off as well ten-year bond yield sliding back a bit. that's not the story the story is oil oil continuing its slow grind and its slow march higher. we are seeing crude oil and brent crude down a bit still over 85 earlier. wti traded crude, the oil we refine here, what your gas prices are based on is up. 75.39. the show is called "worldwide exchange." you have the japanese market up a bit here muting that one we've seen lately, hong kong and korea down a bit. european stocks are lauer across the board. focus on this, that's italy. spain down 1% as well. along with france. again, we talked about oil the other big story to pay attention to today is italy. remember yesterday we walked you through how investors were treating the european markets differently. that story continues today

hello, i'm brian sullivan. stock futures indicating a slight rise at the open.hat a week it's been. we were up 500 one day, down 300 points the next. right now indicated up but anything can happen. it's a wild week the only thing certain is that volatility seems to be back in the market the benchmark ten-year yield, it rose, it paused, a slight uptick, now down again 3.25 is the number you want to watch on this. big stories this week have been in asia. overnight the -- here's the news, the chinese economy slowed the fastest in a decade, the shanghai rising. hang seng up as well nikkei fell. european markets in the red. italy, weak link down 1.2%. france, cac 40 down three quarters of a percent. you're watching "worldwide exchange" on cnbc, so as the name says, we are all over the latest global market action. our team of reporters and anchors are fanned out across the globe. willem marx is in brussels, but let's begin with the slowdown in china. eunice yoon is live in beijing with more on that. >> thank you very much china's economy is growing at its slowest pace

i am brian sullivan. it will be a big day today for many dayze -- reasons.g. dow futures up more than 200 points on this news. jackie deangelis has more on what is going to move your money today, jackie. >> good morning again, brian the u.s. and canada reaching that last-minute deal last night to overhaul nafta after talks going into the weekend appeared to be on collapse. washington had imposed a mid neat eastern deadline for this in a joint statement u.s. trade representative robert lightheizer and christa free lan says the u.s., mexico, canada agreement or usmca will give our workers, farmers, ranchers and businesses a high standard trade agreement. they agreed to a quota of 2.6 million vehicles the deal failed to resolve tariffs on canadian steel and aluminum there is a trade dispute process that canada fought for canada made some concessions in providing u.s. dairy farmers access to about 3% of its $16 billion market that's a big sticking point that was apparent in talks. the markets are reacting to this today. the canadian dollar hitting the highest do

i am brian sullivan. ks for joining us. getting off a big week here. stock futures are not having a big day. mildly in the green to begin your week. the dow down about 4% this month. more on the u.s. markets this moment your big money story is not the united states, it is in china. look at this what an overnight session it was. the chinese stock market having its single best day in many, many months. beijing saying that it will do whatever it takes to support its economy. the shanghai composite up 4% a big run there. hong kong stocks up just over 2% let's get right now to our own nancy hungerford in singapore with the latest on china's big rally. >> here's something we haven't shown you in a long time a 4% jump for the shanghai composite. overall chinese stock markets enjoyed their best day in three years today. that was led by the blue chips take a look here the csi 300 up 4.3%. overall the tech heavy shenzhen which has been hit hard was higher by almost 5%. this markets the second straight day of gains f

brian sullivan is off today.et's look how your money is setting up today the dow looking at a 300-point drop at the open if these losses hold it is just about the lows of the session right now. the s&p off by about 45 points the nasdaq off by 202 points that's if these losses hold into the opening bell on the treasury side of things, we are catching a bit for safety assets as a result, the ten-year treasury note yield has gone from 3.1213% down to 3.09% the two-year treasury note yield, 2.82% as treasury prices go higher and yields start to fall let's go worldwide we are seeing that again overseas action shape up the nikkei off by a half percent. the shanghai composite off by 0.2% europe is under pressure as well we are seeing a bit of deterioration there. with the main bourses there showing signs of stress. the dax off by 1.23% the cac off by over 2% and the ftse 100 in the uk off by 1.5%. >>> let's bring in boris schlossberg from bk asset management, also a cnbc contributor. just when the bulls thought they wer

brian sullivan is off today.s you can see, the futures picture looks like it will be another negative day the dow opening down about 20 points not too bad. the s&p off by two the nasdaq was a loser yesterday, off by 25 points. on the treasury side of things, very key because interest rates were the biggest driver in trading action over the past couple of days the two-year note, 2.88% the ten-year, 3.20%. let's bring in gina sanchez. as we talk about the way rates are reacting and the way markets are reacting to those rates, can we see this driving trade for rates and the stock market continue the way it has? >> you know, i don't think that there's necessarily going to be -- that this is going to last for a very long time but i think this is a catch up if you look at the front end, the front end has been rising now for a while driven by fed policy jerome powell has said i'm committed to continuing to normalize rates. yet the long end stayed steadily down for the long end to move up it means that there is growth or

brian sullivan is on assignment today.e a recap of the stories making headlines contessa brewer has that shares of netflix are surging after the latest earnings report the streaming giant passed estimates adding 7 million new subscribers. >>> google's youtube suffered an outage overnight users were not able to access the website for more than an hour they were greeted with a blank page that did not show videos. i guess we got more work done? got more sleep users also received error messages youtube said the problem is fixed. >>> mike pompeo arrived in turkey a short time ago. he's holding talks with turkey's president and there to find out what happened to missing saudi journalist jamal khashoggi we'll continue to monitor this story and bring you the latest details as we get them in. dominic? >> thank you very much for those details. let's turn back to the markets following yesterday's big move higher the dow was up by over 500 points. >> right now it's indicated to open down by 90 points the s&p just about flat as well. t

you saw brian sullivan a moment ago. lf and has an exclusive look at one of shell's largest floating oil rigs brian, take it away. >> you know, david, we talked a lot about texas. everyone wants to talk permean nobody has been talking offshore for years until right now. here is why. for years, offshore -- this is the biggest of the big boys' game all the expensive projects, these, like the shell olympus. you need higher oil and lower cost for years, no one did that, especially when oil prices dropped, pretty much everybody abandoned the deep water offshore not anymore. that's where the investment angle lies shell, $3 billion over a couple of platforms launched next year and in 2021, multiple projects here we're on the olympus that's the sister mars program out there and a few miles off coast is what they call the ursa offshore in general here is 1.85 million barrels a day, guys, 45% more daily production than up in north dakota so the deep water really has been adding to production the last couple of years, but doing it v

i'm brian sullivan. here are your top money stories monday morning. stocks likely to open lower.he dow fell on friday, largely on concern over rg bonds, but it does mean that interest rates and the money you borrow is going to go higher. the nasdaq had its worst week since last march. tesla dropping 15%, and netflix down nearly 8% just last week. >>> speaking of streaming video, walmart teaming up with mgm studios to create content for its video on demand service called voodoo. the focus will be on more family friendly mo lly movies and show. formal announcement expected wednesday. >>> all you parents listen up, retailers are reportedly stocking up on toys trying to fill the void left by toys "r" us' bankruptcy. walmart set aside more toy space and amazon will distribute toy catalogues to shoppers at whole foods which our g in for granola, come out with a toy catalogue. >> the kids will like that. >> they love the catalogue and they circle and highlight. yes, it's amazing. >> santa. >>> coming up here on "today in the bay," a look at the work we forecast. kari? >> as we start out

i'm dominick chu brian sullivan is on assignment.n a big way following two intense days of selling stock futures right now pointing to what could be a 330 point opening if these gains carry into the opening bell. the s&p 500 up by 37 you can see the shanghai is up by 1% and nikkei and japan up by .5% as well in europe, we're seeing gains there although fractional. you can see the ft-se 100 up by .75%. the german dax .5% we have seen a little bit of marginal acceleration for the gains in the last half hour. if we take a look at the hot spots in our own market, during the market stress, we were talking about this idea that many safe havens haven't been seeing the bids we would expect given the market stresses. one thing that we were watching in trading throughout the course of this week was the gold trade. as can you see here, going into yesterday's trade, gold miners accelerated while the markets were selling off indicating perhaps a sign that gold prices were catching a bid in those gold miners benefiting from them also watch what ha

i'm brian sullivan we begin with president trump taking a victory lap speaking at a news conference earlier about that trade deal between the u.s., mexico and canada. trump says he, quote, pillar of national security is economic security and trade and he called the deal a new dawn for the u.s. auto industry. >> this deal will also impose new standards requiring at least 75% of every automobile to be made in north america in order to qualify for the privilege of free access to our markets >> the president also weighing in on what the deal means for american farmers >> this new deal is an especially great victory for our farmers. our farmers have gone through a lot over the last 15 years they've been taken advantage of by everybody, prices have gone way down, and we're working on some other deals that will make them very happy also but this is a very, very big deal for our farmers mexico and canada will be opened up a lot more than they are now. >> so what exactly is in this deal the u.s. mca and how does it differ from nafta. >> tyler, there's been a lot of debate whether it's nafta 2.0 or m

brian sullivan off the coast of louisiana. >>> a big rally right now in the stock market the dow is up more than 430 points is last week's selloff now a distant memory can strong earnings continue we'll hear from netflix after the bell the second hour of "power" is coming up next i am an independent financial advisor. it's our name on the door. we are accountable to our clients everyday. we have the freedom to build a plan. a porfolio based specifically on their needs. we're fiduciaries, stewards of our clients' money. entrusted to do what's right. it's a mission. a guiding principle our firm lives by. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit findyourindependentadvisor.com >>> i'm courtney ragan here's what's on the "power lunch" menu. the bulls are roaring as earnings beat. is it proof that higher revenues will offset the fear of higher rates. netflix on tap will they stream up profits or is a second quarter miss more than a blip? blackrock's larry fink says the desirability of housing may be about to drop. is he

. >> and i'm brian sullivan. facebook flying after earnings, but mark zuckerberg outlining big challenges for his company on the earnings call we'll talk about facebook and what it means for the other faang stocks as well and it's predicted stocks will rally from here but only in the short term and we've got a big-time long-term warning and he's here to detail that as "closing bell" begins right now ♪ >>> welcome to "closing bell." welcome back, brian sullivan this is the final hour of trading in what has been a very volatile october for stocks. markets staging a big rally today, second day in a row the dow surging right now 430 points first back-to-back gain we've seen in the entire month of october. >> yeah. how good exactly is it well, if somebody comes up to you and says when is the last best two-day advance for the s&p 500 you'll know the answer because you watch cnbc, and that answer is june 2016. that's the last time we've had two days on the s&p 500 that have been this strong. as always, we've got your fu

. >>> good morning, san jose, i am brian sullivan, here are your top money stories on this tuesday. the stockmarket likely going to open slightly lower. dow futures are down. this follows yesterday's big run with a trade deal with canada. if you think the gas prices are going up, are you not wrong. it's because oil prices are at a four-year high, also the expected cut in supply as the iran sanctions start to kick in. well, speaking of gasoline, mas da wan mazda wants to make you forget about it forever. they want to make all its cars all electric by 2030 and two big pieces of news from amazon.com, they are saying all employees will make a minimum wage of $15 an hour. amazon has taken heat on how employees have not participated in that incredible wealth growth. they own the database imdb. they are working on rolling out a streaming service. it will be free although with some ads. a big announce. on that as well. we talk about google maps. you mentioned that. google and indeed trying to make your commute less horrible. it shows mass transit options and updates to train and bus times a

david: many thanks to kristine aquino in london and brian sullivan in new york. meantime, let's get back to jeanna. as you know, larry kudlow kind of walked back with the president said a little bit. neverdlow: he has attacked the fed's plan or strategy. he has never interfered with the. he is giving his opinion, and it is uninformed opinion. and frankly, i think people should listen to what the president things come up with the fed is independent. we always has said after it -- we have always said that. david: it surely was not complementary. jeanna: it was not hungry, but what lyrically low said is true -- the fed -- it was not larrymentary, but what kubo said is true, the fed is independent. he is not a fan, but yes, he cannot really do anything about it. david: the president expressed more opinions. listen to what he had to say. reporter: the markets are down again today. welcome the we are still up 40% for the period of time, so the markets are still way up. it is a correction that i think is caused by the federal reserve with interest rates. the dollar has

thank you for being with us on cnbc i'm brian sullivan it's the largest storm to hit this part of floridaricane michael gaining strength in the warm waters of the gulf of mexico, now a dangerous category 4 storm with high winds and a storm surge expected let's bring back in kayle kaylee dionne. >> this is moving at about 12 miles per hour, it will move fast we are expecting it to make landfall around midday today only a few hours left. the time to prepare is coming to an end >> with hurricane florence we rached e watched it for days, people had time to prepare. how fast-moving is this it appears from we're watching something develop to a major hurricane in nearly record time. >> it was learning to walk and then started to sprint basically. it is moving into the gulf of mexico yesterday the gulf of mexico is basically a bathtub of fuel for these storms it's like a steroid shot it immediately intensified that's what happened so you see that happen with some of these storms that move into the gulf of mexico it went from category 2, qu category 3, now a category 4 and it is still intensifying

watching a special selloff edition of "worldwide exchange" right here on cnbc >>> i'm dominic chu, brian sullivanassignment today we're all over this global market selloff the u.s. futures picture indicating another red open at least for the dow jones, off by 370 points not as bad as we were about 15, 20 minutes ago the s&p off by 35. the nasdaq off by 98 points. the bond market, the ten-year treasury note yield is actually lower, reflecting some of that bid for treasury prices and safety ten-year note yield, 3.16% in asia, the shanghai was off by 5% the nikkei off by 4% in europe losses are being paced by the ftse 100 in the uk, off by 1.75% the dax is off by 1.5% the cac as well off by 1.5%. with the dow yesterday, as you look at how things played out, we knew already at the course of the open yesterday that the dow was going to be lower. we saw that, a bit of stable, then as we moved towards the med day session, another small leg lower, it wasn't until around 2:00, 3:00 when things accelerated to the down side closing at the lows off by 831 points looking at the epicenter for many of these tra

i'm brian sullivan thank you very much for joining us it's shaping up to be a busy thursday why do weay that futures and bond yields are moving in different direction. stock futures are indicated down the market is on a five-day win streak everything has been good but yesterday we saw a big shift. treasuries had their biggest one-day move since june of 2011. that's the highest yield the biggest move since donald trump took office. as yields rise, and we're at 3.21% on the ten-year yield, as yields rise there's a fear out there that maybe inflation is creeping in. the fed will have to become more aggressive, and that could put stocks at risk bonds, as we say, you know at the end of the show we do the rbi, random but interesting, bonds are bbi, boring but important. let's bring in david nelson. amazing, david, for months we have been talking about the possibility of trade wars and tariffs. all of a sudden yesterday the bond vigilantes, the bond market reared its head and now a lot of people are starting to get nervous. are you? >> not that nervous. we're going up for the right reasons.

i'm brian sullivan pour yourself another cup of coffee it's already shaping up to be a big day.ne that could be difficult for your money and investments futures are down the most that we've seen them in a long time dow futures down 279 points. pointing to a nearly 300-point drop at the open keep in mind the dow is already down more than 4% this month we had a chinese official telling american investors at a conference overnight that his country does not fear a trade war with the united states the selling is not limited to the united states and our futures. we are seeing buyers raise cash around the globe europe is sharply lower in early trade. the dax down 2%. france down 1.5% it's a similar story in asia and as always we have full team cnbc coverage of this selloff. julianna tatelbaum is in europe, let's begin with nancy hungerford and the asia trade. >> hi, brian that's right a sharp selloff across the region very different story than what we brought you yesterday there was so much hope around that china-led rebound yesterday, that sharp two-session rally. that's starting to f

i'm brian sullivan the bond market is back over after the columbus day holiday yesterday, and with ite story is back on as well bond yields continue to move higher 3.25% on the ten-year. a new seven-year high. every time we go up it's going to be a new seven-year high. many on wall street say this point we're up to 3.5% and that means we could still grow, but above 3.5% we might see a hit on stocks speaking of stocks, futures are slightly lower rates up, stocks down. that's been the trend lately let's talk more about rising rates and your money joining us now is managing director of capital markets. silvia, welcome. good to see you. >> good morning. >> i guess we could say the market would be irate. i apologize for that there is a real fear here. in the past higher rates have not spell doom but suggested things will slow down ultimately what is your view? >> there's two-ways to look at it rates have been rising for the last couple years, albeit slowly, and in the 2% range nobody worried about it. the economy strong, gdp growing, tax cuts, all these great tailwinds along with strong ea

brian sullivan is in midland, texas with a look where energy stocks go from here. brian?er: yeah, jon, good time to be here. energy stock exchange the worst performing oil and gas took a hit today call it a hat trick if you will. number one, you get all of the things we talked about on cnbc rolled into one industry, oil and gas. this is the most heavily indebted of all industries that industry behind us, those rigs don't function on people, they function on capital, and cost of the capital goes up, there's concern debt payments go up down the road and cash flows which are already tight could get tighter. so you have higher interest rates. number two, will that slow down the economy and lead to a slow down in demand like gasoline if we useless gasoline and oil, petro chemicals and whatever, you may see slow in demand for services of the companies that are here, those stocks fall as well let's not forget the third, steel and aluminum tariffs the most heavily used industry of them all. oil and gas, while there's still a lot of optimism, global demand is still strong, capital

. >> cnbc's brian sullivan, a senior national correspondent, and felix salmon, the chief financial correspondentfor axios. okay, brian, we know a nonkn non-negotiable for the united states was a new deal was not allowed to be called nafta. president trump is a branding and marketing genius. i'll give him that. but besides renaming this, how is it different? >> it's not that different. peter as usual nailed it. nothing's been ratified. nafta rolls off the tongue. does usmca roll off the tongue? i don't know. we may need to rebrand this. still, not that much different, unless you're in the milk business or automobile industry. those where the two things are. maybe you should call this milk money because wisconsin helped deliver the presidency to donald trump and donald trump is really making the move here to help wisconsin dairy farmers. very heavy dairy farmer state which is hard up against the canadian border as well above lake superior so they'll be able to export and sell more milk, more manufacturing jobs hopefully in this country for cars. the auto industry loves it because they're not going

. >>> brian sullivan with a look at "power lunch. >>> coming up on "power lunch" legendary investor howardee capital worried about the f.a.n.g.s and his advice for mastering the cycles. consumer reports will join the program with results of the latest iphones and if you hate your battery life on your iphone you will like what they have to say. and we take a look at the rising risk of mortgage fraud and you will not believe what people are doing again to fake an income. yeah, all that and more ahead on un."er lch more "halftime report" right after this ♪ not long ago, ronda started here. and then, more jobs began to appear. these techs in a lab. this builder in a hardhat... ...the welders and electricians who do all of that. the diner staffed up 'cause they all needed lunch. teachers... doctors... jobs grew a bunch. what started with one job spread all around. because each job in energy creates many more in this town. energy lives here. >>> welcome back to "the halftime report. with the fourth quarter getting under way we are taking a look at some of the traders' most memorable calls from t

. >>> thank you, carl and morgan i am brian sullivan in for scott walker there's a lot on the agenda this monday from bottoms to tops, fundamentals to technicals we have a lot to get through >> is the bottom near? today we look at the evidence and debate the answer. plus, the top analyst on apple speaks out wall street is listening and the market may have just set up a value trap. the "halftime report" starts now. >>> welcome. it is good to have you with us all on this monday here to debate and trade the biggest stories of the day that have to do with your money the big debate theme for the show, and this will be the best show this week, i promise, is whether the bottom is in there's a lot of conversation on whether or not the volatility we have seen, 500 point drop that we had last week is the bottom >> i don't think so. i think this is -- this market doesn't have a lot of support, things that are weighing on the market, trade issues, that's not going to be talked about in any meaningful way again until january, that doesn't bode well. the fed, will it move in december and the thing

arabia could offshore oil drilling be the answer to keeping oil and gasoline prices in check brian sullivan this morning where he's ready to take off for shell's largest oil rig floating in the gulf of mexico good morning to you, brian >> reporter: good morning, andrew you guys just talked about it. you talked about saudi arabia. we've been to the middle east, been to the bakken wehad a $2 billion deal in the space two years ago or two weeks ago after this industry was really just kind of left ignored. shell is about ready to launch a $2 billion product we're going to go out on one of the next biggest days. 130 miles, guys, offshore to talk about whether or not in the gulf we're going to see more investments, more capital improvements, and how much more oil and gas we can pull out of the gulf of mexico that beautiful machine behind us is going to take us. it is going to be a spectacular day here on cnbc >> hey, before you go, what kind of train dg you have to do to get ready for this >> well, yeah. okay so yesterday didn't realize how intense it was going to be basically they simulate you'r

that's putting pressure on prices brian sullivan has the oil story.from cnbc headquarters hey, brian >> hey, joe. good to see you again. oil having its worst day in months yesterday at one point down 5.5% opec is over-supplying a market that is already over-supplied. this is a market commodity when there's too much of something, the price goes down and seems like everybody is producing more you've got fears of a slowdown of the economy out there you keep producing more oil and that's what you're going to get. the saudis yesterday at that conference in saudi arabia saying they are, quote, in produce as much as they can mode so we're seeing the saudis raise up production. we increased the production by 500,000 barrels per day. it's not just them in opec, libya and nigeria also have been ramping up production as well. of course we reported extensively about the united states, guys permian basin, they're producing more north dakota, it's a million too. and the rest of the world as well wants to take advantage of higher prices. all of that is reducing the

brian sullivan joins us now.houston with more on why interest rates impact this industry more than any other brian? >> reporter: yeah, andrew. listen this is an industry built on three things rock, people, and debt and i think the higher interest rate move is causing this industry to sell off more than any one of the worst performing sectors yesterday, one of the worst performing sectors over the last two days. the average big cap stock. i mean exxon, chevron, down 7% marathon petroleum down in nearly a bear market, guys it is a bigger hit to the oil stocks than the majority of the overall industry as well i mean, every stock is down. we know that, right? but the majority of the big cap oil stocks are down even more. three reasons why. okay high debt. all the debt is -- $240 billion in debt is due in the next five years. $41 billion next year. $45 billion the year after that. $68 billion in 2022. that's got to be either refinanced or paid off as rates rise that gets harder. a lot of worry about cash flows. well,

let's take you down to the new york stock exchange where our own brian sullivan and problem pasani are you saying etfs own a roam your thesis is what, they're making it worse? >> some say, mellissa, it may have here's the problem you need a 100 page white paper to dig into the data to figure out what roles the etfs are having. talking to folks out there, names you would know about the role etfs play, they're saying, we're not sure what the role is. we know there is a big role because of this. look at the number of etfs where the fang stocks are top 15 holdings facebook is a top 15 holding in 98 etfs. that looks small compared to apple. 125 amazon then you say, okay, i'm going to buy an etf because of the diversification. we hear that "d" word all the times. you hear the etfs, like the qqq 38% is the faang stocks. took at the bottom ones, fdn and pnqi 28% and two% without apple i'm not saying they cause a problem. but they have to be playing some kind of a roam >> that fdn is fairly small about $8 billion here's the pointant etfs, e -- point about etfs etfs are a wrapper if people want

. >> and i'm brian sullivan.acebook flying after earnings, but mark zuckerberg outlining big challenges for his company on the earnings call

and i am brian sullivan, one-third of this fine wait staff, and your first course is a taste of why stocksing another record-breaking day. bob pisani is live for you at the new york stock exchange. bob. >> reporter: hello, brian. good to see you. our catalyst was a buy program that came through the market about 10:45 eastern time, lifted the dow 70, 80 points. we're at the highs of the day right now. a lot of this was initially due to industrial stocks moving up, trade-related. boeing, of course, another all-time high, but caterpillar, remember, high-priced stocks united technologies, when they move, high-priced stocks, the dow tends to move. 3m, another trade-related name moving but there have been counter trends retailers, all of them down 3%, 4% this is the amazon effect. $15 wages? a lot of these places pay $10, $11 minimum wages. that's margin pressure on the retailers. you see the effect there another countertrend we've got a rally with no participation from financials. morgan stanley 52-week low regional banks like key and citigroup been doing nothing for a long, long time. we talke

that's where brian sullivan is, joins us live from midland, texas, with more >>>. >> reporter: is that technical term, funky things happen? >> oh, come on, brian. >> i'll tell you what's funky, a boston red sox fan in the bronx. >> that's a funky thing. boston this the bronx, and that's higher oil rates, or higher interest rates and lower oil prices that's another bad combination because this is an industry, guys, that industry executives will tell you is built on three things, rocks, people, and money. and money is particular debt this is an industry which is probably the most heavily indebted and so if interest rates continue to rise, this could be the oil and gas business, the industry that is hurt the most. according to moody's, got new data last night from them, 240 billion in oil and gas-related debt is coming mature in the next five years. 93 billion of that is just in the e and p, the exploration and production space alone not a lot this year. look at 2022, $68 billion. now, of course a lot of that stuff is locked in, but if you want to refi and rates are higher, not a great co

brian sullivan is in the permian basis. e it remains optimistic but also a little cautious brian, what you hearing? >> reporter: yeah, becky, we came out to talk about peak permian. let's talk about the industry, you know as well as i do, becky. this is an optimistic bunch. we had 600 oil investors wandering around talking about the market let's make the bull case and the bear case. the bull case, 3 1/2 million barrels a day. they're talking about going to 5 million. ramping that production up right now, it's still strong smart wells. they're not just putting pipe in the ground and coming up dry pretty much all are ahead because of technology. let's go to the bear side. the bears say, wait a minute, on this cost side, no, no, no cost came down when oil slid they're on the way back. people, sand, waters for fracking, those costs are up as well certainly, lack of infrastructure if you don't have a pipeline to get the oil out, you really have nothing. saudi aramco telling us a couple weeks ago, we think it's going to drain fast

brian sullivan has the details >> this may be the weirdest story of the week or year. cover piece that amazon and apple are denying. the facts are a bit complicated. i'll talk a bit. you can ask me questions i'll do my best to answer them according to the bloomberg business week deeply researched study, six former and current government insiders confirmed a tiny, like the tip of a pencil microchip was found on servers built by a chinese-owned company that builds servers for data farms own ted by amazon, apple n others to perhaps steal any information that was coming through that server farm one company is called elemental, it was bought by amazon in 2015 elemental compresses video for amazon prime and they compress video for things like cia drone footage and other government video surveillance apple, amazon and others have come out denying this. apple about an hour ago came out and said we are deeply disappointed that in their dealings with us bloomberg's reporters may not have been open to the possibility that they or their sources may have been wrong or misinformed a

sullivan of alaska and daines of montana. both are invested the senate judiciary serves fairly. and i will move onto introducing our three witnesses. first, we will hear from professor brian fitzpatrick. currently serves as a professor of law at the vanderbilt research law school. professor fitzpatrick joined vanderbilt's faculty in 2007 after serving at the fellow at nyu school of law and went onto clerk for judge oscanlen on the ninth circuit and then justice scalia on the supreme court. after his clerkships professor fitzpatrick practiced for several years in sydney austin, in washington, d.c. and served on the supreme court nominations process for senator cornyn. before earning his law degree he earned -- and next we will hear from judge dermot oscanlen, and he assumed senior status on december 31st of 2016. his chambers are in the pioneer courthouse in portland. and judge oscanlen has participated in over 6,000 federal cases and has written hundreds of published opinions on a broad range of subjects including constitutional law, international law, securities law, administrative law and criminal law. before his appointment to the federal bench judge oscanlen was prima