i am brian sullivan.t a reminder we continue social distance here at work trying to flatten that curve, welcome, everybody, as tyler says as he always does, what a week it was. i think everyone would agree, tgif, not from the dow's perspective. all in all, we were up 13% on the dow, and the best week since 1938 and that is cold comfort given what we've seen and we are down thousands of points from our high just one month ago and the dow losing 115 points today. the benchmark ten-year treasury note ended kind of where it began at 0.7%. when you throw a couple trillion dollars like the fed is at the bond market maybe you will see a move, maybe not, and continues to fall, and it is moving around after hours. oil stocks falling across the board as well today. the average oil stock in the united states is now down 50% this year and there's a lot more that are down each more than that welcome. "options action" will be on at 5:30 as well and our group has been resilient, and that is guy adami, tim seymour, and w

. >>> good morning welcome, i'm courtney reagan in for brian sullivan what a day it is shaping up to be again today, but looking different than what we saw on monday we'll kick off this morning with a tuesday turnaround dow futures are pointing higher indicated higher by more than 900 points 920 points at this moment. the s&p 500 indicated higher by more than 104 points and the nasdaq up by 323 points. we have a lot of hours left until the opening bell sounds but this is come after the worst day for stocks with the dow falling more than 2,000 points in a single day. the sell-off triggering the first halt to u.s. trading in 20 years. as it stands right now, all the major averages are in correction the dow transports and the russell are in bear market territory down more than 20% from recent 52 week highs. same thing goes for energy financials, industrials, materials and tech all those sectors also in that same boat bonds are hovering off the low, ten year is back above energy pouncing back after the worst day since january of 1991. right now wti crude is higher sitting below $33 a par

welcome i'm brian sullivan a and your trade remembers tim seymour, brian kelly, karen finerman and steve grasso high pressure let's get right to it stocks staging what can only be described as monster come bang the dow up 600 points in the final 52 minutes of trading. the big move, likely fueled in part by the fed. two key officials hinting that more rate cuts or more could be on the way and get this a week that saw a thousand point swing in the market nearly every day was ultimately a giant round trip to no where the s&p 500 ended the week pretty much exactly where it began. i think the dow was able to finish slightly higher karen finerman, this was going to be your chart of the week we were doing the next block we have to lead with it. everything is fluid right now. what happened this week. >> if you look at the chart you will see a one and change move for the week imagine what a different feel we would have if every day during the week the market moved 30 backups each day and that would get us right where we are right now that's the change in the week. but that's not how it happened w

i am brian sullivan. market meltdown comes as congress scrambles to launch a massive aid package to help millions of americans who are likely to either lose their jobs or a good portion of their incomes. we'll hear about all of this in moments. senator pat toomey of pennsylvania will be joining us live exclusively he has been inside the 11th hour negotiations on the hill and we'll get answers on what the ultimate stimulus plan may look like and what aid packages are likely to come and whether regulators are considering banning shortselling and reinstituting rules and that interview is ahead let's break down this historic week and joining us now our friends guy adami joining us in moments. >> we learned that a big chicago firm, ronan capital was unable to meet its capital requirements and this forced the mercantile exchange to invoke emergency rules and auction off its portfolio. guy adami, we lost a few hundred points toward the last hour. do you think that news exacerbated the selling and do you believe

welcome, everybody i am brian sullivan. end to the tough month in a tough year, the dow falling for the first worst quarter ever for the dow jones industrial average. the white house about ready to hold its nightly press conference on the coronavirus. the white house press briefing, of course, any key headlines, of course, market moving or otherwise we'll bring those to you, but we have a little bit of good news on that front, as well and who else is going to deliver that than meg terrell and meg joining us, and i know how tough it is being physical distancing, social distancing, whatever you want to call it. how hard that is for so many people in the united states and the world, but you've got some data that shows that as tough as it is, it does appear to be working on many fronts >> yes, brian, it does appear to be working and that gentleman you just showed waiting for the briefing to start, that was dr. anthony fauci and he said he is seeing glimmers of where this is working. two of those cities and counties are seattle

consider it solved. >>> welcome back to cnbc i am brian sullivan. e very latest on the virus outbreak and the pandemic and hope for some good news. once again, here's sue herera. >> i wish i did have good news, brian, but we'll start with the latest numbers so here they are global cases broke above half a million this afternoon they have already risen to more than 523,000 the death toll has swelled to per than 23,500, more than 2300 have died in italy where coffins are temporarily being stored in some churches. the nba is trying to do part to educate on the virus curry joined dr. fauci dr. fauci emphasizing the deadly nature of the coronavirus. it is not just the flu >> it's very, very much more transmissible than flu and more importantly, it's significantly more serious let me give you some very quick numbers. >> okay. >> mortality of seasonal flu that you and i confront every year is about 0.1% the overall mortality of coronavirus is about 1%. >> and the virus is changing cultures a french ritual is running into the harsh reality of the pandemic so

. >> announcer: to brian sullivan. with me the entire hour, peter bookfar wiright now stock futur indicate what could be a nice open to the upside, about 175 points within the last hour we were up 400 to 500 points implied. we'll see if that moves. the dow jones futures have been going from losses all the way to gains. at one point we had a range of 1100 it's been a volatile, possibly preshadowing the market. ten-year government yields we gone down to 1.0 3 year, setting the record two-year treasury notes, 1.2%. the session low for american-based crude is $43. you can see $45.53 the last trade there. we have seen a bit of a downside move in the last hour or two let's watch what's happening a rebound in under way, in asia and europe as well as investors hope for action from global central banks around the coronavirus. matt taylor is in singapore. julianna tatelbaum is in london. matt, we'll start with you first. we did see some nice green finally in those asian markets >> absolutely. asian markets mostly in the money de

of time here, thanks for tuning in from tyler, mike, sarah, myself, have a great evening and brian sullivan picks things up right now. >>> no deal. stocks fall again. the dow dropping 582 points. another 3% loss. the selloff coming despite more unprecedented action from the fed. the central bank throwing every single policy action it can at the dire economic situation, offering up far larger programs than anybody had ever thought possible i'm brian sullivan, if you are keeping track at home, we're pretty sure you're at home here's a sobering stat on the selloff. the dow has fallen nearly 11,000 pointing since an all time high in mid february. that's a nearly 40% drop the fastest in history investors continue to see their portfolios fall, while washington falls short stimulus still on hold we're expecting a briefing on the coronavirus outbreak in about 30 minutes time. we're going to bring it to you live when it begins. kayla has been tracking the stimulus situation all day long and is with us now on what happened what happened, what didn't happen. and what comes next. >> for a second time i

. ♪ >>> good morning and welcome i'm courtney reagan in this morning for brian sullivan with me thisour aaron gibbs. we're going to kick off this morning with a wednesday whips off for wall street. stock futures look to erase the majority of yesterday's gains. right now we are indicated for a lower in the dow jones industrial average, futures pointing to lower open of 482 points, s&p500 down by 58 and nasdaq off by 161. let's check out the action in the bond market. this of course has been something that we've really been watching before we go there, we're going to watch the dow futures for you again, down 1.4% in the early going. in the bond market, the yield on the ten year is above 0.7%, 0.741% look at the 30 year, above 1, but still 1.2% those are levels we haven't seen in so, so long all of this comes after the dow saw its third single biggest point gain ever searching 1,100 points and in the close snapping a three-session losing streak. the major averages remain in correction territory that's down 10% or more from recent 52-week highs we are seeing right across the street overn

we want to get to brian sullivan, as well, who has breaking news on opec. >> worst possible outcome athe opec meeting just got the communique from opec, which i don't think has been publicly released yet no deal. opec and sears has ended their meeting with russia with no agreement on additional output cuts the price of oil moving lower. watch the oil stocks and the hyg, the high-yield, 11% energy stocks again, breaking news from a source inside of opec, just sent me the communique. they agreed they would meet again and, quote, monitor the situation and they would basically continue the previous cuts so this was a major failure by op opec no deal. you can see it reflected in the price of oil >> brian, really quickly, we did get below 42 on west texas for a moment and our understanding from the wires is no date on a future meeting, a new meeting >> yeah. bright now the next meeting is scheduled, carl, for june 5th, but scheduling with opec could be very much up in the air listen, we'll see, if they don't meet, that would be an indication that there's a bigger problem inside of the organi

brian sullivan is here with us as well. brian, let's start with you because you have some reporting about how bad it is in the market for some of these names >> yeah. kelly, thank you very much obviously great interview with larry kudlow and he's talking about all these credit programs and acronyms and people are thinking, what does that do? why do i care? let me give you an example on friday according to two sources i spoke with, eog resources, one of the topnotch companies out there could not get a bond deal done they tried to float a bond deal on friday, couple of billion dollars to refinance obligations due next year but there was a lack of interest and they withdrew that bid. you can call it a failure or you can call it a withdrawal but here is the point, kelly the fact that that bond deal did not get any traction, they're one of the top rated companies look at 99% of oil and gas companies that have debt that have lower credit ratings and a weakening environment. some of these environments that are out there are designe

brian sullivan with us today the shocking oil move down 25% >> yeah, you guys have noted the biggest one day slide since 1991, again, not to be little it or be labor it people say who cares about oil that's good, right gas prices are cheaper the problem is, as you've talked about. it's really a debt and a credit story, it's an oil story as well, oil -- a small part of the stock market, but a much larger part of the credit markets >> absolutely, brian it could become a debt and a credit story, that's the key question for the banks they fall sharply like the oil companies. as yet, unclear whether they warrant that level down sharply today we know you have all the analysis covered >> we'll try to get some rest tonight guys see you tomorrow morning thank you very much. >>> welcome to fast money, i'm brian sullivan and your traders on this very important night tonight are tim seymour and guy adami. we'll get to that in a second. a record day on wall street, and for many a day to forget all three major averages plunging more than 7%. the dow the biggest loser, falling 2,013. that is not a

this after talk of further travel restrictions in the u.s nothing concrete yet and brian sullivan pointed out, saudi talking about pumps nearly 13 million barrels a day. finally, all-time highs in the s&p 500. yesterday we didn't see that at all. first time since the '90s. the cruise lines, not part of that story falling again. norwegian, royal caribbean and carnival deep in the red today. >>> where the markets responding positively to fiscal stimulus talk today, the fed may be breathing a sigh of relief here. can they take a backseat joining me is a guest. david, it is good the see you and one thing to keep hearing people say and understandably is that the fed is out of bull lites here are they or aren't they? >> i would say almost out of bullets. there were a couple of things they did in the crisis they have not yet done one is the term asset lending facility or talf and that was they took asset backed securities used to basically back consumer loans, that's something they could do again. they'll probably need more capital from the treasury to do that of course, they haven't put capital

i am brian sullivan. check out the late-day move in the market you can see the market taking a big hit into the close right at the end of the day that's as senator bernie sanders came out and said that he will hold up the $2 trillion package if the gop senators do not change their views on what he calls corporate welfare. the dow did manage to finish the day in the green, however, but well off its highs a positive, the first back-to-back days in gains in the dow since early february >>> a lot of today's rally driven by boeing, optimism around a bailout helping boeing post a 24% gain, its best day since the 1962 ipo we're going to dig into all this with tonight's trader panel standing by for you. >>> plus you'll hear from new jersey governor phil murphy. that state just reported one of its biggest single-day jumps in coronavirus cases. we'll speak with the governor about what is being done to stem the outbreak and help all those hard-working men and women and their businesses in the garden state. >>> as is

month for more on where the price of oil could go next, i'm joined by paul sanke, and our own brian sullivan is here with us as well brian, was it you or did someone else out there say that oil could go negative? i was focused on negative bond yields, now negative oil prices, too. >> it's possible, yeah listen, it's the high risk, you know, for a low probability outcome, kelly, but it's not out of the question. here's why you've got a store at summer we talked about this yesterday on your show and again, if all the storage tanks get full, it's possible, it's not probable, nobody is saying this is the outcome, but if you've got oil and there's nowhere to put it, it's conceivable you might have to pay somebody to take it. by the way, pretty amazing, we're talking about a 22% jump in the price ofoil to $24. >> right, exactly. paul, any thoughts on the prospect of again, i only mention it if people in the market are speculating that this could happen, prices going negative it just tells us there's a huge supply/demand imbalance out there, right >> that's correct. in fact, it was me that started

i'm brian sullivan "options action" coming up in a few minutes. first, a special guest, someone who last april said the s&p 500 could be setting up for a 40% decline. scott minerd scott, welcome again you did not foresee this global pandemic coming. it's not just the pandemic, is it, right? the market structure, the debt loads, everything else that was already in place, the pandemic may have just been that chip on the jenga stack, if you will. >> brian, if you want to think of it as a house of cards that was built by the policymakers in order to bail out the financial system during the crisis, you know, one day a breeze came along and knocked over one of the cards andit's bringing the whole house down. >> well, the house -- listen scott, the equity market rose 13% this week. i understand, we're still well down on the year seems like the fed has shored up the credit markets a little bit. it sounds like you're not believing that the bottom is in yet. >> no, i don't think so. i mean, brian, when we look at some of the data that we're getting with une

i'm brian sullivan we're joined by. >> carton:er werth, cody zach. another week, another whole new world in the markets we are now seeing things that were really unfathomable just a couple of days ago what could possibly be next? we are following an old adage, it's not where you're going, it's where you've been we are following to err is human. know when to hold 'em and know when to fold 'em case in point, consider last week's trade on the tlt. >> what we've seen is that this stock -- tlt is moving 40% from the december 2018 lows if we zoom in, tlt is up 15% it's reading fairly over bought. >> now to seismic shifts in everythi everything, that trade has not gone our way first up, get something different with everybody we want to talk about the lessons we've learned and what we're seeing a little more macro than usual given the week, very appropriate. >> we did two things that were very specific and identical last week we were saying that tlt after a great run had gone too far what we were trying to do is buck the trend, go against moment momentum we

i am brian sullivan. welcome to another special edition of "options action." with us are carter werth and tony zank and mike khouw is joining us from san francisco. a lot of people addressing concerns from clients big and strong, institutional, individual, hedge funds, you name it. for you at home, there's a lot of valuable, maybe hopefully some calming insight to be gleaned from the conversations because maybe you have a lot of concerns as the big institutional clients. let's start there. mike khouw, i want to start with a particularly salient experience you had just this morning, maybe the lessons that can go to our viewers. >> yeah. you know, so we were talking, my colleagues and i, with an investor this morning and we spent about an hour on the phone. this is somebody who has been, you know, managing a portfolio of stocks principally and has lost faith in their ability to do that this week. actually was actually coming to us and saying, you know, can you just take this over for me i don't have any faith that i actually know what i'm doing anymore. we didn'

i'm brian sullivan joined by carter worth mike khouw out west. appear bonwin and tony zhang we are seeing things unfathomable a couple days ago what could could be next. >> tonight we follow an old adage to know where you're going look where you've been to quote the great kenny rogers know when to hold and know when to fold them consider the trade on the tlt. >> what we have seen this stock -- tlt moved about 40% from the december 2018 lows. and this is happening consistently a couple of times over the last decade every time that's happened, we have seen either a consolidation or a pullback after that 40% move and if we zoom in a little looking at a 1-year chart, the tlt is up 15% year to date and currently reading fairly overbought if you look at momentum indicators such as rsi. >> well so now due to seismic shifts in everything that trade has not gone our way which is why we always preach appropriate position sizing as it is known. first off do something a bit different. we want to talk about the lessons maybe we learned this week and what we s

. >> brian sullivan did that interview and he has more.virus headlines and fears, you know, you almost forget there's an oil shock going on, which is another huge weight on the markets and gdp. >> it's unbelievable it's like a greek tragedy. remember the two rocks trying to crush it and the oil industry and by the way, hundreds of f thousands or maybe a million plus jobs are at risk as well. strong words from scott sheffield. ill give you some statistics to back it up and say if the market, the equities side any way, maybe pricing this in the average return of a company's stock that operates in north dakota is negative 87% over the past year six companies where that's their primary operating region, a higher cost area and the stock's around 87% they're effectively getting wiped out along with their investors, guys. it has been an impossible situation. not only because the price of oil has fallen down again today but also because we've talked about extensively the crushing debt loads i've said it before. oil is a four letter word. it's spel

i'm also brian sullivan. welcome. what a week this was and guy adami, i am not going to take anything away from a dow that rose nearly 2,000 points and it's better for most people's portfolios than it falling 2,000 points. >> but -- i believe we're going to eamon are we going to eamon? you have time now to think about that question. >> let's go to eamon >> let's go right now to eamon jafers who is at the white house with more news following the president's news conference which certainly moved market, eamon. >> boy, did it it was a thousand-point spike while the president was hearing. traders clearly liked what they heard and the president takinga i ceo-focused approach and bringing on the ceos of target and name checking google the president i thought taking a much different tone on the coronavirus. he's tended to sort of minimize the danger of this over the past couple of weeks and yet today he said something different here's what he said. >> in the coming weeks we will all have to make changes and sacrifices, but t

>>> good evening i'm brian sullivan welcome to "options action." carter worth on set. mike ko is joining us from san francisco. all of our traders, of course, have been spending a lot of week -- a lot of time this week addressing clients big and small, and individual hedge funds, you name it for you at home, there is a lot of valuable and hopefully calming insight to be gleaned from these conversations because maybe you have a lot of the same concerns as the big institutional clients. so let's start there mike, i want to start with a salient experience you had this morning, and maybe the lessons that can go to our viewers >> yeah. we were talking, my colleagues and i, with an investor and we spent about an hour on the phone and this is someone who has been managing a portfolio of stocks principally and essentially has lost faith in their ability to do that this week, and actually was actually coming to us and saying can you just take this over for me. i don't have any faith that i actually know what i'm doing anymore and we didn't actually have a good sense of what was

bob pisani is on the floor of the change brian sullivan covering the oil price collapse mike is here to look in the the market mike holland ond transports. we'll get to all our reporters the dow is down 7.25%. b bob. >> important thing is the circuit breakers hit this morning. down 7%. halted for 15 minutes. want to remind everybody that halt remains at 7% down. now we have to drop 13% for it to drop again before 325 after that, it would not halt unless it dropped 20% then the market would halt for the day. a couple of major movers jpmorgan chase was down 13%. worst decline since 2009 bank of america down b aboabout. certain sectors rallied then drooped. industrials. cat pill lehr rallied after the market reopened before 10:00 a.m. sitting off the lows of the day. same with yuntd technology there's only one dow stock in the green today. at least most the day, walmart still remaining in the grocery stores in general, consumer names have faired much better. >>> oil market collapsing as tensions between saudi arabia and russia boil over leading to massive declines for crude prices and e

be confident to and through retirement. ♪ ♪ >>> welcome, everybody i am brian sullivan live in new york one day, up 1,000 the next this as the white house and the fed pull out trillion-dollar plans to try to stabilize the economy the dow surging more than 1,000 points for a 5% gain the thought of hundreds of billions of new bonds being issued, yields moved higher. in fact, the ten-year treasury note yield is back above 1%. crude oil got crushed again on concerns o

you don't want to miss that and you also don't want to miss "fast money" which starts now with brian sullivanlcome to "fast money" and cnbc's continued coverage of the coronavirus outbreak and the markets in turmoil i am brian sullivan and you can see a new local, social distancing just as important at work and do not worry, we still have a lineup all hour long with big-name guests you've got to he

hot to hit oil prices as well getting absolutely crushed during the first >> kelly >> brian sullivan here to survey the damage brian. >> don't worry, kelly is not o fenned everything is is not fine in oil by the way item going to see bob pisani and raise him. he did mention exxon down 67% in the quarter. demand destruction has been off the charts anywhere from probably 13 to 20 million barrels a day just ripped out of global demand. at the same tile, you've got this saudi russia price war going on, which is now by the way, a u.s. saudi price war because the u.s. companies, they continue to pump as well bob mentioned that exxon mobil was down 45% of the quarter. doesn't look that bad. look at occidental marathon petroleum down over 70% in 90 days in other words names where the market believes the eck quity if not already worthless will soon be simply because of those crushing debt loads and as we showed, yes, you can now by a birl of oil, 42 gallons, barrel of oil call ued western canada select in canada for $4.18 a barrel of oil cheaper than a beer >> thank you very much for that back

our very own brian sullivan who covers the oil industry for us gentleman, welcome to both of you.talk about the news this morning. maybe not a huge shock given what we've seen happen to oil prices in the last month or so with oil prices at $24, what does that mean for you >> well, good morning, becky first of all, you know, our thoughts are certainly with those who have been affected by this virus and the health care workers on the front line that are combatting it. we announced changes this morning that really demonstrate the resilience with which we've positioned the company we come into this very, very strong we're taking actions to preserve cash it will have some impact on production in the near term, but we've stayed with our financial priorities, which include protecting the dividend, as you mentioned, and we've seen circumstances like this before we know what to do and we're doing it >> michael, i have to say that probably is the biggest news coming out of this, that the dividend is safe at this point if oil prices were to fall to $20 or below that, how much additional pres

welcome to "fast money" i'm brian sullivan dow falling, small caps down again. benchmark dow index down from february 12th record high. outside of the one-day plunge of nearly 23% this is fastest slide to 20% down ever over multiple gaze portfolios were slammed but perhaps good news, bonds rose. maybe the bond market may be suggesting worst of the selling may be over? we'll find out meantime the banks despite the yields, battered, even as top ceos wrap their meeting with president trump at white house, we'll get more on that in minutes. perhaps the biggest shock is boeing shares down another 18% today. boeing, really one of the bluest of the blue chips, now has lost half its value in just six months time. we'll dive into why. joining us to walk through all of this, karen, dan, tim and guy. welcome everybody. another big night, difficult night for a lot of people out there. pension funds, state pension funds, companies guy the question to you and everybody on the panel and lot of viewers what may not be market pros, tuning into cnbc first time, do you sell now if

speaking with bob mcnally and brian sullivan about that. b saying that president trump is in the odd situation of wanting higher oil prices right now. brian, our question is whether that can be achieved here quickly and max out on global storage, and if it's too late to save many companies in this industry. >> there's no way the prices move higher in the near term bob would know more than i do. i go on his research why would they move up there are reports from many good sources that in mid land, texas, and canada, oil is trading at $5 to $10 it depends -- remember we are looking at the contract price for the official futures there are people in parts of wyoming, montana, north dakota, midland, texas, with no place to put their oil. i saw a letter to please don't send us more oil a lot of pipeline companies issue what they call force matures and october of god unforeseen circumstances and in other words, yeah, we may have a contract but we are not going to take your oil. i can probably go find a barrel of oil somewhere in america for four buc

. >> larry, it's brian sullivan. can you give us another anecdote we like the ping-pong one. give us something else we may not know about mr. welch >> we were going too a significant negotiation. we had two approaches we were going to give the person with whom we were meeting, the less desirable then fall back on a better one if we couldn't sell him on the first turns out he gave him the better proposal first and just as the guy was about to open up, he recognizeded it, pulled it from his hands and said that's our inferior proposal, we have a better one now he gave him the one he should have and got waway way with it >> that just shows his competitive spirit his love to know what deal that was in the making. what do you think when people talk about jack's legacy about what he'll be remembered for? what do you think is misunderstood about him. >> first of all, he was compassionate guy despite this new term that's been tagged with him, but also he was fun i mean he celebrated he shared praise generously with those around him and he was just a good guy to be arn and he had a rem

. >>> about five minutes to go here we'll get to brian sullivan who has been watching the incredible moves in oil and energy this week hey, brian. >> hey, carl i'm not sure i have a lot to add. the price of oil down again. not as low as it was a couple of days ago, but it did fall about 5% today or at least unless something changes. you know, and you look and say the xop, the big oil and gas etf. i heard josh saying basically he put together a shopping list with anything but oil and gas companies. apparently everyone else agrees, as well. because you look at the xop. it's under $9. let's consider this, in 2016, oil hit $25 a barrel briefly but it hit that. the xop was at 22 or something like, i think. it's now at 9 and oil is higher. the reason, of course, we've said that a lot of equities have been in big trouble. i'll leave you with this stat, carl, the average return of a stock operating in north dakota, the oil region there's a few others the average return this year is negative 78% since january 1st. that's the kind of scenario we're in with the oil and gas stocks i have a feelin

this after opec was unable to reach a deal brian sullivan is here with more and we've been looking for sign they might be able to scrap something together >> i'm talking to people, they're not getting together it's 8:00 p.m. in vienna so they have time. the saudis are leaving tomorrow so any hope of a deal has flown the coupe i think and that's what we're seeing. >> they're talking about potentially video conferencing if they have to finish >> just remember this, the current deal to cut 2. off the quota expires at the end of march. if it's all countries for themselves as the u.s. has been doing, like we talked about in the last hour on the exchange, oil could be in the high 20s or low 30s in a week. >> what happened to the presumptive deal or was there never one? >> there was a deal and what happened according to everybody that i'm talking to who was in some of the meetings was the russians were ticked off that opec announced a proposal for a deal without their blessing. right. like your son comes home and says i'm spending the night at bob by's i was going to say yes, but that's how i

i am brian sullivan, thanks for joining us here at 5:00 p.m. eastern time we hope you are doing as well as can be the market is doing as well as they could do over the last couple sessions. we ended last week strong coming off a very weak base last week the best week since 1932, well, we continued some of that momentum today. the dow ending the day up 690 points pretty much most stocks you look at they were higher today we will get to those, the one thing that was not higher continues to be oil. down 7% as well. we'll get to more on oil and what it may be signaling throughout the show. welcoming. we are pleased today to be joined by guy adami and dan nathan for the entire hour, we welcome in emily roland of john hancock financial. it's good to have you back here on cnbc's fast money you said it seemed like the indiscriminate selling might be over, that gave you some comfort, were you more comforted by today's action? >> yeah, and it's great to see, great to be here i have to give a huge shout out to everyone in englewood cliffs for making this

and is this sector safe to buy brian sullivan is here to look at battleground names. brian. >> is it safe to buy anything, kelly, i have no idea. i'm going to show you a couple things maybe to open your eyes who knows, the first is syop we can see the wti, the orange line you have the absolute value of the xop over here, trading below where it was when oil was $20 a barrel in 2016 oil stocks are trading worse when oil was $20 a barrel cheaper, go figure a lot more debt. that's one of the reasons. pte rate exxonmob exxonmobil, 15.5 and chevron, 16. and again, some of these numbers will change, kelly, when you look at yahoo! finance, whatever it may be. but you can see on a five-year basis on it's pe ratio, they are, i suppose, discounted >> come on over. >> you don't know what the pe is going to be. >> i'm surprised they're not cheaper. cheap in single digits >> those numbers double. >> right >> there are 13 companies that have a price to earnings ratio, trailing pe to 9 >> let's flip it around, we talk about sam zell's point are there companies with a better profile? e

i am brian sullivan.ut the late-day move in the market you can see the market taking a big hit into the close right at the end of the day that's as senator bernie sanders came out and said that he will hold up the $2 trillion package if the gop senators do not change their views on what he calls corporat

i want to bring brian sullivan over for that because it is price action in the oil. welcome. >> hi. >> you have been reporting all day on what has or not happened with opec today. what's going on? they couldn't come to an agreement? now you have oil plunging 8%. >> total disaster of a meeting i have been in touch with people all day long have a little bit of breaking news for you right now. >> great. >> they're trying to hold an informal meeting tonight in a hotel. they're trying to hold i'm not saying they will and even if they do, i'm not saying that something will occur. the formal meeting ended with no deal. >> take a seat. >> no one's ever done that for me i get to sit. >> all coming down to an ace greemt of saudi and russia you have the statements on the wires where iran says this is one of the worst meetings i have seen in the history of opec. >> and he's the longest serving opec minister. been there longer than anybody an seen more meetings than anybody around that table. the fight between the saudis and the russians as far as getting a deal done, they couldn

you put your faith and your money in the rally that we had today welcome to "fast money," i'm brian sullivan thanks for joining us. your traders are at the desk guy, kick us off because we have this rally truly incredible. ended on our highs are you a buyer? >> remarkable, right i'm not going to pretend to say i saw this coming or any percentage of this coming today. but what we talked about on friday and i know it because it was only a few days ago, wechd you can take some sole police in today's action on the fact that couple things happened the market has bottomed on days where the vix has traded somewhere between 35 and 40. we got that in spades on friday. and we also pointed out if you go back to september of i think it was 2018 or so, friday's close basically was the resistance level of the levels we saw back in september right before the market sold off so weflag those levels thousand again, i didn't see today coming by any stretch of the imagination. so what is next to answer your question well, today is the where he is low of 2855 in the s&p, recent high of 3393 on february 17th, a 5

i'm brian sullivan again for melissa. here is another incredible ride and volatile session the .5% rate cut by the fed morning doing little to calm markets. maybe exj rating the selling dow giving up half of monday's gapes at the end of the day down 785. keep this in mind. the dow is now down 3,500 points from highs of less than a month ago. stocks of course a story but the big story of the day was the bond market. holy smokes. bond yields continuing to fall on the 10-year, in fact the free-fall at 2:00 p.m. eastern time at 0.99%. the drawing is not good but you get the point. under 1% on the benchmark 10-year note we have never seen that before buyers not just coming into bonds, also flocked into gold and the gold mining stocks the precious metal up 3% the miners even more the gdx, a gold mining dpks index up 5% today. if you tuned in last night -- we hope you did everybody around the desk said they were not buying into the gains. in fact, guy adami i believe you said well rally to the 3,500 on the s&p 500 on fail you na

i am brian sullivan. in a year of firsts it was another record-breaking day on wall street. dow soaring 2,112 points, that's its biggest point gain ever and the first time the index has risen more than 2,000. that move translates into an - 11.37% gain making it the largest climb and the biggest since 1933 on this as they close on a massive package for the american people that could be in the trillions of dollars and we'll have much more on that coming up and first, let's get to the markets and the money on another wild and record breaking day on wall street we begin with bill nygree in. we need to hear from you on a night like this. these are the machines coming in and do you take solace in today's rally that some type of longer or medium bottom may have been found >> at oakmark we don't consider ourselves experts at market timing we think stocks are really cheap if you believe as we do that the economy will eebt alventually r as will the p-e multiple and i do agree with what jim said that the markets are not functioning especially well. it's difficult to sell things that yo

let's bring in brian sullivan. you rightly keyed into the saudi story, the supply aspect of this yesterday, as well, seems to making it worse and down 20% in oil again and the journal talking about we could go below $10 with a global storage glut. >> well, they must be watching cnbc at the journal. this is -- when you have a barrel of oil that nobody needs or wants, and all the storage tanks are full, that barrel has either zero value or even negative value because you've got to pay somebody to take it away to maybe store it if you don't have room for storage. we are not there yet obviously but crude oil below $22 a barrel and nobody i have talked to thinks that we move up any time soon now, of course, like bill miller was just saying, when everybody's on one side of the boat maybe you have to start looking but oil is for by and large a come phdty and we are below 22 there's a lot of oil companies that used to be worth $5 billion, $8 billion, $10 billion worth today $50 million and priced basically at zero. >> it's

brian sullivan joins us from the latest down about half a percent. >> thanks, kelly of course, oil hadrally yesterday, huge rally for oil, any dwa up i guess is a huge rally for oil. let's talk about it because you have the opec meeting tomorrow and then the opec plus meeting on friday. so let's walk you through now the top four opec story lines heading into tomorrow. number one the market, they really want a 1 million barrel a day cut or more from opec. top story line two, the market really wants a 1 million barrel a day cut. this is not an accident, i did this on purpose because that's it when you talk about a market that has been falling these are the story lines that matter. of course, there are a couple others, you can't really do this unless russia plays. what will russia ak vladimir putin because all the decisions go through him will they participate? if they don't even if opec does that not sure it matters all right. also by the way i'm standing in front of a plasma not on a street in vienna do you know why? a lot of reasons but no media, tyler, that was one of the things in fa

♪ ♪ >>> welcome, everybody i am brian sullivan live in new york city, down 3,000 points one day, up 1,000 next this as the white house and the fed pull out trillion-dollar plans to try to stabilize the economy the dow surging more than 1,000 points for a 5% gain the thought of hundreds of billions of new bonds being issued, yields moved higher. in fact, the ten-year treasury note yield is back above 1%. crude oil got crushed again on concerns of an economic slowdown and oil down 6% to 2860 and change oil now on pace for its worst month ever and here is a stat that really sets the tone for how things have been and it comes from our friend ryan detrick at lpl financial. it markets the serventh straight session that was up or down and this breaks the previous record of six such volatile sessions set all of the way back of november 1929, a true sign of the times. all of the markets rising today. it is clear that we are in unprecedented times for the markets and the economy, but we are here for you here on cnbc with the folks working tirelessly around the clock. bob is downtown and steve has m

i'm brian sullivan guy, i don't like to use this word but is part of this market, investors, panicking >> no. again, panic is the wrong word we are within 7 or 8% of all-time high. if people sold stocks given where we were is that panic? the speed things are moving is scary. i don't suggest it's panic i don't think you've seen panic. and frankly the job isn't to stoke the flames of the panics it's not the job to assuage concerns it's our job to tell you what we nifrpg is going on with the vix at this level given the fact that people are not traveling, not going to games, schools closing, that's a fact now we talked about it last night. that's having a huge effect on the economy and the subsequent kwekt effect on the market i'll say this again, i think steve agrees, 2850 or thereabouts in the s&p is big level. that's 7% from where we are. that to me makes sense. >> we will get to the numbers, the technical stuff going on but i want to go back to the idea, karen. and i wasn't suggesting in any way to stoke it. in fact be, the on opposite what i'm thinking karen is you don't want to buy g

brian sullivan, thanks for those extra moments. >> will fred, no problem important times and scary times and an incredible day. >> cnbc picks up the coverage of what was another incredible day on coverage. stocks fell hard again today, economic fears and many unknowns rattling investors the dow falling another 1300 points and it closed below 20,000 the dow is now down a mind blowing 10,000 points from its all-time highs hit just last month. let's put that in context. it took the dow 103 years to first hit the 10,000 mark and now we have lost 10,000 in fewer than 30 days trading was halted again today after we fell 7% in the afternoon, but the pause did not refresh. selling continued and the average return of an s&p 500 stock today was a loss of nearly 8% oil also crushed and falling 24%. oil now at an 18-year low. shares of chevron, they took it hard, falling 22% today, but there was one potential bright spot in all of the sell-off. a name that you know actually hitting a new all-time high in today's market we're going to bring you that name ahead, but first, we've got to get more on tha

i'm brian sullivan thank you for joining us on cnbc perhaps a glimmer of a positive sign in the stockket today the major averages closed higher and not by much, we're not going to overdo it and compared to what we had in the last couple of days it was a sigh of relief for many and the dow finished up 188 points and technology did better and the nasdaq up 2.3%. among your big winners today, mcdonald's, disney and goldman sachs. today's move higher though, putting not even a dent into this week's losses and the dow is down a staggering 12% just since monday once again, a big story, energy. check out oil. this time the opposite of yesterday, surging 24% that's its best day ever the u.s. government considering some political talk or action to get in front of that saudi-russia price war that's going on and flooding the market with oil and we'll have much more on that during our big hour straight ahead, but first, though, let's talk about this historic moment at a time for investors and trying to figure out what you should be doing right now with your money in the short, medium and long ter

. >>> welcome, everybody, to an important show tonight i'm brian sullivan the virus outbreak rattling nerves that's a live look outside thes that zach. normally at is this time, times square would be packed with tourists, theater goers, commuters right now it is eerily quiet. the president saying the virus could stick around until late summer the impact being felt from main street to wall street. the dow ending the day down roughly 13%. an incredible 3,000 point drop by far, the biggest point drop ever apple down 12% microsoft lost 14% today every s&p 500 sector finished deep in the red, perhaps the most incredible move of all, bogue down 23 pshs, to $129. boeing was a nearly $400 stock just a few months ago. the selloff comes despite unprecedented action for the federal reserve, which did little to ease people's concerns we have full team coverage for you tonight. let's kick things off with bob pisani, who again is on the floor of the new york stock exchange at least for now >> we saw our third trading halt in six sessions. a 15 minute halt with the s&p 500 down 7%. like the two othe

the deal is conditional on one country in particular fulfilling its end of the bargain russia brian sullivane. >> yes, opec met today opec plus tomorrow much different meeting i'm here, not in vienna. they have a proposal to cut more so that would be a 3.7 million barrel a day total cult. one million was like the, if you don't do a million, got it look out below >> safety cut. >> if we don't get russia to join on to one 1.5 million, look out below because from what, going back and forth with people at the meeting, there is no plan b. so if russia does not get on board, most traders i talked to this morning suggest we could end tomorrow in the high 30s for oil. in other words, oil will tank tomorrow unless we don't, unless we get that deal >> what's the read on what russia wants >> anybody know? >> i lived in russia for a couple of years? >> in terms of production and swing capacity and a budget russia need this is this cooperation more than anybody. historically, russia's been more tactical, but the cooperation between opec and non opec has been almost unprecedent. >> it's the new opec by th