[chanting] >> chevron. >> guilty. >> chevron. >> guilty.here is even an international anti-chevron day. plus, chevron ranks up there among the industry's top spenders on government lobbying, raising concerns about the influence it wields over politicians and regulators. what divides chevron from the rest of the pack is strategy. fadel: they did a lot better than their peers because they made a bet on oil, not natural gas. exxon and royal dutch, for example, made a huge bet on natural gas, which, unfortunately for them, has not really lived up to expectations. chevron, on the other hand, made a bet on oil, and it has worked in their favor very well over the last 10 or 15 years. john: we are a little bit different. we are more upstream-weighted than some other companies. so more oil and gas production weighted relative to downstream and chemicals. we have recognized expertise in deepwater development, in dealing with lng development. there are certain portfolio characteristics and technologies that we've pursued that make us, i think, very un

dollar on chevron's business? >> well -- >> a lot of people did not realize and dinlt realize that you're more exposed to the price of brent crude than wti crude. the dollar is on the asent. >> the dollar has a number of impacts. at the highest level, our revenue is generally in dollars in our business. we benefit from that. what happens is when the dollar gains relative to other currencies, costs can decline in those markets. you can see -- you can see costs come down not from negotiating between venldors but just the fact that currency is cheaper in these countries. we've seen that in russia and we've seen that in some other countries. that low currency keeps costs of development lower in some countries. >> if there was a perfect price for oil where you made money, the industry kept expanding to keep jobs going but gasoline was low enough that the consumer wasn't pinched. what would it be? >> the right price is what the market determines it to be. i'm a free market guy at heart. we have seen volatility in our bu

chevron richmond supports local labor. they've entered into a project labor agreement on a modernization project with countless other agreements with richmond refinery. these jobs and these agreements help our local economy here in the bay area and because of this, we recommend extending their six-month permit. thank you very much. >> thank you. next speaker. >> good afternoon again commissioners. he working with the san francisco chamber of commerce. the jammer supports the exception of the operating agreement with chevron for the richmond refinery as a form trade zone subsite. customs relief provided under the ftc agreement prevents maritime activity in the region. these activities create more maritime jobs, increase sales taxes and business licensees to provide economic benefits to the whole region. chevron's longtime san francisco business. i think some people are not aware of that or forget and they're very good corporate citizen did they invest millions of dollars into san francisco's nonprofit community, including e

let's consider chevron's weekly chart. after a tremendous rebound in october, okay, look at that, it was big, chevron climbed from 76 to 97, the recent onslaught has caused the stock to give back a decent chunk of its gains. smith points out it happened on lower volume. you see the volume drop off there. remember, volume is almost like a pommy grappolygraph. smith thinks chevron is in the process of making a bullish flag formation. the stock moves up almost in a straight line followed by a period of consolidation that looks like a pennant, which is exactly what we have here. as long as chevron managed to hold on to the bottom of the pennant at 85, this pattern could complete itself, setting the stage for the stock's next leg higher. chevron has a yield and they've acid they're going to stick by that yield. i think the dividend is really safe. next up, the daily chart of the big daddy and the most conservative company, exxon mobil. even after the recent carnage, smith believes exxon is nearing a golden cross. i see a head a

chevron is $90 over the last two to three months. it is a sharp-tooth recovery or bottoming process but it is happening. and if you look at the trades working, refiners are one, they may have headwinds that change that. the best in the market, occidental, net cap, 17%, you could buy that right here. you don't need to see rally oil to see this -- >> tim says it is a bottoming process. do you believe that. >> i don't believe that. saudi arabia will continue to pump until they can't any more. iran is a wildcard. i think they will bring in a tremendous amount of supply. and look at the oil stored off shore. we have a massive supply issue and we are not seeing demand pick up the way it needs to. >> and we associate the geopolitical risk with prices going lower and that is the move you are seeing on the back of the geopolitical stuff which is another conversation. but in terms of big-cap oil, chevron at 27 times forward earnings in this environment i think is too rich of a stock. exxon at 21 times forward earnings. too rich of a stock. i u

she's not pounding the table to go all exxon or chevron. consider the daily index for crude was at 6 yesterday out of a hundred. the last time people got that pessimistic about oil was in august when we had a big meltdown followed by a rebound. that's why smith thinks you need to view this moment of panic as the opportunity to gradually pick up some quality oil stocks in the weakness. which of the oil names does she think are worth owning? she's noticed a diversion between the price of oil and the performance of certain oil companies. despite e tting plastered overer the last couple of days, they last august and last october. but the price of oil is lower than it was back then. stocks a a higher. let's just go through the charts. to smith, this action suggests a good relative strength. ininitutions seem to have let up on their sellingng let's consider chevron's weekly chart. after a tremendous rebound in october, okay, look at tt, it was big, chevron climbed from 76 to 97, the recent onslaught has caused the stock to give back a decent chun

chevron, exxon are much smaller. they're an integrated company versus a pipeline company but still across the board people are saying how safe is the dividend in say 2017? two years from now what if oil is still below $40. that's the problem we have. material names also weak right across the board. they're taking down the commodity complex once again. back to you. >> and we have so much more coverage on this topic during the show. let's get to dominic chu for a market flash. >> mandy, shares of both smith & wesson and ruger up by around 5% to 6% in midafternoon trading. among the catalyst for today's move, the supreme court has declined to hear an appeal to an illinois law that bans certain assault weapons and accessories for those weapons. that may, again may, open the door for legislation of that similar nature in other parts of the country. this comes on the heels of recent mass shootings both here in the u.s. and abroad that involve possibly terrorist gun violence. apparently prompting people to buy guns for self

to guy's point, the only names that seem to rally are those big names, exxonmobils, chevrons. so the eogs of the world with. although they are good position with acreage, they can't catch a bit. the only spot, refiners. maybe some service names. even service names have been under pressure, down 10% or so for the year. the only names you see that are up are the refiners. they're up big. in the $40s. tesoro, valero. >> did you buy any of those names? >> no. clients have been buying. the problem is they are so under water they are adding to a lot of their positions that they already have caved in on. that's the key. how many of these guys can survive the year with these positions that they hold. >> are you trading any energy names? >> i'm short oil. i have the view oil goes down to about $25 is where i think it ends up. i would not be buying any of these names. we've seen this before. when you have a risk off type of environment where stocks like the fang stocks, amazon, netflix, google, those are starting to crack and people are covering their shorts in the oil space. whether th

chevron richmond supports local labor. they've entered into a project labor agreement on a modernization project with countless other agreements with richmond refinery. these jobs and these agreements help our local economy here in the bay area and because of this, we recommend extending their six-month permit. thank you very much. >> thank you. next speaker. >> good afternoon again commissioners. he working with the san francisco chamber of commerce. the jammer supports the exception of the operating agreement with chevron for the richmond refinery as a form trade zone subsite. customs relief provided under the ftc agreement prevents maritime activity in the region. these activities create more maritime jobs, increase sales taxes and business licensees to provide economic benefits to the whole region. chevron's longtime san francisco business. i think some people are not aware of that or forget and they're very good corporate citizen did they invest millions of dollars into san francisco's nonprofit community, including e

. >> michael shea, great research director, remindings that you chevron and exxon did not hit lows. remember, they have well in advance telegraphed oich eed oi. >> what's on "mad" tonight. >> we have some controversy here. restoration hardware. stock is down horrendously. is that right? then we have a good biotech, seres. is that right? restoration hardware. is that right? "star wars." >> i'll see it. >> "star wars" cultural

chevron, exxonmobil are the two market leaders. chevron is the bagest gainer on the dow.idental, total, all the big guys are up. even when oil starts dropping, you will see apache and consol, all those names in the downside. but we have nas movice moves to upside. now, on to the fun part. my annual interview with art cash cashin, bobby van's steakhouse. we talked about a lot of different things but most importantly we talked about 2016 and the federal reserve and the question on everybody's mind, will the fed raise rates? >> i think as of now they're certainly going to try in december. that will be about a week past the time we're taping this. however, we've had a very eventful month and a half. we have not had two back-to-back up days in the s&p. that's highly unusual, and it usually presages a difficult time for the market. so we're going, the fed is, in their silent period now. they're going to have their meeting. they're kind of committed to raising rates, and if things blow up, they have no way to tell the world, hold it, we want to change our mind. >> where wha do y

take a look at chevron. i want to show you the week for chevron.n monday when oil dropped, chevron rallied the middle of the day. pi by the middle of date on tuesday, this was $38. chevron went from $85 to $93 in that day and a half. i remark odd that several times. that was a 10% move. this is a company with $190 billion market cap that was quite extraordinary and is indicative of how stretched the market is and how very heavy the shorts are in this particular energy names. energy is the most shorted sector of the s&p. the bottom line is when oil continues to have trouble, the market has very big problems stabilizing and, of course, obviously moves to the down side. back to you. >> all right. thanks, bob. art cashin said yesterday keep your eye on crude. it may be more powerful than even the fed. we are looking at the affects -- the after affects of the federal reserve board hiking interest rates for the first time in nearly a decade. could this lead to new financing and silicon valley's space. john, ceo of the daily mail. gentlemen, great to have

exxon/chevron having declines to the tune of 3% today. let's take a look at those key commodities now. energy we are showing crude oil, wti down -- settling below -- it might have been 38 and change, lowest level since 2009, down 5.6%. brent crude same sorry, natural gas down 5.3%, the hits keep coming for the commodity complex and i lot of the link names. we have our own mike santoli and catherine mapell from the "washington post" and guy adami and anthony grasanti from grg energy. mike, what do you make of the shakeout today? >> anybody who thought $40 crude was going to be some kind of a floor was taken out today so it seems as if that also created a lot of that i think stingt to sell the losers of this year. it wasn't just energy and energy related stock it was a lot of this other housecleaning stock. big cap stocks pressured by weak credit markets which is related to weak energy. the big cap indexes did not really give up that much more xd energy and commodity stock. >> going back to that story here, in a way we haven't seen much fal

typically chevron trades one per percentage point.e think the stock can retrace closer to 3%, which is a higher price target than 120, particularly as the projects come on and they raise the dividend again. that might not be in the first half of 2016 but over time i think 120 is the starting point. >> wow. in your note you also talk about the permian, where they have a substantial position? why is that a great value to them? producer there's seem to be able do so at a profit margin even with oil at 37. >> yeah. the perian is important. as chevron lowers spending and slows the growth profile in 2017 and beyond, the permian can fill in the gaps. it's easier to ramp production there. it's not necessarily cheap, operating costs are not competitive with opec or places like that but within the unconventional or shale landscape, the permian is a place you can put money and continue to grow, even as the overall spend prognosing profil down. that's the key piece on that. >> general question on oil prices and what we expect from opec next year.

check two big oil companies, exxon and chevron. don't know whether that's enough yet or not, but they will be down and that will drag the dow down. wait until you see the price of oil. that's another huge negative for stocks this morning. ashley is here, liz: and what's going on this morning, what is dragging down stocks? is it china, which has much lower exports announced today? is it interest rates likely going up? you first, you say it's armageddon if janet yellen raises rates this month. make your case. >> good morning, stuart. look, i don't think it's armageddon. i think if they don't raise rates, it's a problem and shows weakness, i think they have no clue of what's going on, backwards in this economy. they should raise rates where they could have growth from entrepreneurs and small businesses, interest rates where banks are willing to loan money. until we get to that point, i think it's a disaster by the federal reserve because with their inability to step up and say, we don't care about the stock market, let it go. stuart:

why do you cite that as a positive for chevron? >> in the near term, there are going to be issues in spot market. we think the big picture, long-term, we're going to see increases of liquefied natural gas, whether it's an industrial standpoint, power generation. we're going to see over time that is really one of the best growth areas within energy that these larger companies are going to really capitalize on. >> we'll see. brian, thank you so much. >> thank you. >> about 40 minutes to go here. chevron is one of the companies actually leading the dow higher by about 3.5%. that index up 165 points. at the moment, a 1% gain on the last whole trading session of the week. tomorrow is short. >> up next, why amazon may be one step closer to viewing ups as a competitor, not a partner. >> plus, find out why the summer-like temperatures along the east coast may end up playing havoc with the broader economy. we're back in a moment. >>> the rally continues on wall street today. >> the post is behind us. >> i was going to say i don't know who t

chevron slashing the 2016 budget by 24% amid slumping oil prices.o send $26 billion around the world next year and expect conoco's plans in a couple minutes as well with app updated 8:30 eastern time on those numbers. dupont and dow could announce this morning. they were higher on reports that a deal was coming. dupont having the best day ever dating back to 1972. filings expected to be down from last week, and initial claims have been at record lows for more than 20 weeks. >> there's been heightened market volatility and market uncertainty weighing on the rate decision next week. joining us now with his perspective, mohammed, a cheer economic adviser, and you have insightful things to say about the world, too, and i know by now that term you came up with for the new normal, we've used in so many context, and it's been so useful, and begin the world we are living in, it would be another period of new normal in terms of security concerns. >> we are, and from a market perspective, we are in a period of divergence. i think that's going to be the key is

. >> in a rare interview today, the ceo of chevron described the energy market as being turbulent. classic understatement there. john watson told brian sullivan that the sector is adjusting to lower prices by cutting supply. that capital investment will be cut and that he sees oil prices trading higher one year from now. >> there are adjustments taking place in the business. if you look in the united states, production has fallen 500,000 barrels a day in the last six months. the capital being withdrawn from the business, hundreds of billions are being taken out right now. some companies are finishing projects under construction. that's temporarily adding to supply. but once those projects come online and as people absorb the current prices, you're going to see production drop in many parts of the world. >> do you believe that? because every time the u.s. comes down, maybe iraq goes up or iran goes up or russia goes up. we've got 11 million coming out of saudi arabia that we know of. there are countries and companies, john, as you know, that need to keep producing. why are you so co

chevron, for example. a slumberge for example. you just have to be patient because you're probably not going to see that return in the near term. >> you have a name, dr. jay? >> several. valero is one. they've streamlined the plants. the margins are at record levels basically right now. vlo. that would be one, sarah. also, paul hickey and the good people at vspoke said something about the s&p 500 and weighting for the energy sector. being around 6.5%. that is half of where it was in 2008, folks. when you are looking at the impact to the s&p 500, obviously the less weighting that it has in there, the less impact it's going to have, and you're going to see a lot of that as pete says as we -- >> it doesn't feel that way. >> not yet. >> the whole market comes down with it. >> just as peelt and the re of the panel have said, you look at january, i think it's going to be a lot different, and without that impact from oil and the energy names, i think it's going to be a much better situation. let's be honest. when oil was trading just abo

you can do the chevron. can take these little stencils, and you can put it into your paint and just paint the boxes here. but i want to show you guys -- before you start painting, mario. you guys continue. you're gonna make some cookies. but before you're baking the cookies, place your cookie cutter in the box to make sure that your cookies will actually fit in the box. ah! it is a very simple thing. i know. don't start making these big-ass cookies, and then it doesn't work. [ laughter ] so, now what you're gonna do, you're going to paint those however you want. just let your freak flag fly, and just get festive with it, all right? so you guys are painting. if you are using glitter, what i would suggest you do first is do the splots, the blots with the glitter first and then tap that, let it dry, and then go back. because if you do the glitter last, the glitter will get everywhere, all right? you guys, that is so beautiful. now, what i want to tell you all is while you are painting, it may take a couple of l

chevron has recovered by about one half. if you look at the smaller stocks, kendra morgan has been down for the last nine days in a row. it is said yesterday that it may not be able to pay its dividends because it should divert those bond payments. it has lost executives. nine days has seen a lot of news on kendra morgan, which is the middle part of the equation as far as getting the oil from the ground into your car. betty: the dividends are reason that investors have stayed. that will be an issue going forward. let's check in on the bloomberg first word news. david gora has more from our news desk. rest of the1's the eu to speed up their attempts of cutting off funds to terrorists. prepaid bankking cards and freezing assets. the european union will increase cyber security. toy have agreed to new rules increase defenses against hackers and require companies like google and amazon to report attacks. air france will resume flights three times a week starting in april. tilloperated in tehran and october 2008 when they were sus

leading the dow higher. 3.3% and chevron up 2.8%.of $84. natural gas is still sliding down for its fifth day in the row -- fifth day in a row. betty: thank you so much. we are monitoring breaking news out of l.a.. we have more from the breaking news desk. it is developing, the nation's second-largest school district. it has been shut down because officials are calling a criminal terrorist -- a credible terrorist threat. in electronic threat that involved many schools. the district ordered the students in more than 900 schools to go or stay home. buses collected those already at school. >> it was not to one school, two or three, it was many. there were many schools, that is the reason they took the action that i did. the superintendent said he ordered the schools closed out of a abundance of caution after the san bernardino shooting. the lapd is looking into this threat. donald trump hens into tonight residential -- presidential debate in las vegas. the newest poll shows him at 38% support. ted cruz is second at 15%. ben carson each a

why bet on chevron? >> chevron is a fabulous company.hey have tremendous cash flow and tremendous assets. i think at 35 -- a very negative scenario for oil has been already priced in. you get a 4.7% dividend. earnings fwroeth growth of arou. and they're under pressure. you buy them when pe's are high and sell them when they're low. as i look at a couple of years oil prices will be higher and chevron in a much better position. >> so you want to hold this for two or three years? when do you see it paying off? >> i'm a buy to hold investor. so in our main portfolios we'll hold this for three or four or five or six years. this is a one year portfolio. a lot of the bad news is in and has pretty descent prospects for 2016. >> you have a couple of defensive names on here. you have cvs, you have johnson & johnson. dividend plays there. what's the strategy? >> well, i think you'll see a reallocation of risk in 2016. with the fed gone. with the fed not backstopping every big market down drop you'll see a reallocation of risk. away from the stocks

alix: exxon chevron, energy added 37 points. that was a big mover but it was great that you brought up the shortage stocks that got a rally. facebook, amazon, google. with the exception of netflix they were down today. we solve this strong rally with not a lot of participation from the big momentum names. joe: you wonder if there will be a change next year or whether maybe just one day means nothing. it was a switch for most of the year. joe: if you take a look it can show where the oil picture may be going. we got i'll -- we got higher oil prices because supplies came in but brent is saying something good. what you're looking at is the brent 1-6 months. in six months. as you can see here, it has been firming. the difference is $3.78 a barrel. to zero, thet gets tighter it actually is. the more balanced the market is becoming. for all the talk of the lower curve and prices falling off a cliff the short-term time spread is firming pretty well. joe: maybe there is balance coming into the market. alix: that is what this suggests. j

chevron is a stand out and has been for some time. what do you buy here now?re constructive last month. that's after being on the sidelines for more than a year. part of the reason why is we think we're close to a bottom. we think opec's policies are working and we'll see improvement in fundamentals. we're not saying we can't go lower by another 5 to $10 per barrel in the near-term, but at the same time i'm not sure how relevant that will be, especially because they discount low and high prices. we did upgrade bp, chevron and exxon last month after being on the sidelines for more than a year. >> doug, even if you're betting on demand getting closer to supply, and some rebound in crude, there's a big school of thought that the big integrateds are not well positioned in a rebound in oil. do you avoid exxon? why the upgrade? >> the reason is as follows. there's a lot of bad news known as it relates to big oil companies. number one, those stocks really are trading at valuation lows that we did not see in the 1987, 1998, or 2008 oil price declines. that's on both p

this is chevron. this is a company with $190 million market cap.tabilizing oil will help stabilize high yield. if oil doesn't stabilize, stocks are going to struggle into the close of the year. one thing about the close, we really fell apart in the last couple of minutes on huge volume, and this is expiration-related. i would be careful about making a lot of conclusions based on what's going on today. i would like to see a few more days. >> it's interesting with oil. you're saying oil holds the key. we'll be watching the weather going into the year. the inventory-building cushion is because there's been so warm. there is no reason to use that to make product. >> nat gas collapsing. >> bob pisani, thank you. >>> there is another reason we might see major buying into year end. tom lee joins us. great to have you with us. mutual fund managers are extremely desperate this year because they underperformed their benchmark so badly. >> yes. it's a gloomy year. i think everybody would like to just close the books and say let's forget this ever happened. it

exxon mobile and chevron the cheap layers there. so they go down, they get hit, those averages go down, those averages get hit and well you know the rest of the story. and who knows better than our own jeff flock right now in chicago at the cme. jeff, what's the latest there? >> oh, boy, i tell you we're almost at session lows, 35-81, the last trade is 35-78, almost down a dollar on the day and below $36, any time we get more stability, more selling comes in. so that's why weir at the lows. it is -- it has been a wild ride all week, and it continues today, neil,. neil: do you ever get or do traders tell you that there's any stop to this isn't? or that it's overdoing itself? because i've equally heard from people no. no. in. $20 is a real possibility. i don't know what the real floor is here, but i've heard all sorts of estimates. >> you do get different views. i mean our fill tends to be fairly bullish. you know, but the majority is not. and they pointed this -- it's a perfect storm they point out. i mean today's iea report says we'

i've been in the meetings and villages with the gas companies, including chevron, and i explained what is happening, what the process is. i don't believe that every single person has been left in the dark. >> he rejects that fracking will lead to contamination of water. >> i don't believe that we will contaminate the drinking water or doing anything harmful to the environment. >> the critics highlight concerns over drinking supplies. they say the industry has embarked on a p.r. exercise to win over hearts and minds. local people say that the fracking has even used the churches influence to convince people that it is safe and that will benefit the community. we tracked down the priests alleged to have been involved. what's the potential is bright. it will take some time. it will not happen overnight. poland is off for a great start with the early success that might be questionable. you would expect to see that. you don't have an experience, knowledge, trying to get a pathway forward. >> whatever the coming months and years old, those advocating fracking have their work cut out. down, yo

chevron leading the dow.t-mcmoran leading the s&p 500, and celgene is leading the nasdaq 100. >>> so a white christmas may be a little harder to come by this year, at least here on the east coast where temperatures are expected to set new records. but coming up we'll be talking to a man who runs ski resorts in vermont, new hampshire, and massachusetts, and we're going to ask him just how his company is coping with all this warm weather and lack of snow. that's coming up. ♪ the lexus december to remember sales event is here. lease the 2015 gs350 with complimentary navigation system for these terms. see your lexus dealer. >>> president obama getting in a round of golf during his christmas vacation in hawaii. look at this chip shot, chipped in from 40 feet. look at that. the crowd, such as it is, goes wild, and that was the 18th hole, sow got to walk off the course on that high note. watch it again. there it is. there it is. it's tracking towards the hole. >> yeah. the president playing in hawaii but mainlanders

the first ever chevron stem bowl. they performed hands-on exercises in science, technology, engineering and math or s.t.e.m. for short. at a series of stations, they experienced scientific principles instead of just reading about them. >> we don't want it to be a mystery. we want them to understand that it's something that will help them in whatever career path they choose. >> the niners and chevron invited hundreds of fourth grade toers participate in the event today. >>> i'll be all right. not a bad sprain. it's going to be sore for a couple days. i should be back in no time. >> dubs nation breathing easier after hearing those words. i'm geraud moncure in the sportsnet room. how long will that keep him out of action? with the consecutive wins on the line, that is the million dollar question. the warriors have another practice day before their meeting with the celtics. it might be a pain tolerance issue for klay. >> felt a lot better last night. hopefully i'll get the same tomorrow. should be good to go here real soo

chevron doing well, oil up close to 5%, settled just above 4%.the heating oil, natural gas, all moving higher today. this is giving broad support to the market. now the energy stocks, apache, bp, conocophillips, exxon, chevron, beaten up for sometime. bed bath & beyond down heavily today, hitting a 52-week low earlier in the session. now down 4.5% or 49 bucks. why? the latest earnings report, the company slashing guidance for the next quarter. that will do it, and that is being punished, down more than 4%. >>> other than that, not a bad way to finish out the eve to christmas eve. liz: that's right, christmas eve eve cheer. thank you so much, ashley webster. >>> they lost 7% in the past year, if the experts, if the experts can't get it right, how do individuals at home set up for a successful 2016? joining me michael binger, gradient investment senior portfolio manager and hilary kramer, ang capital manager, first to you michael, what do you think? >> it shows market breadth was very, very weak, if you take out the ten stocks that held the martha,

chevron shares, we're seeing declines of .4%. >> all right. let's have a look at flashes coming from mr. thomas jordan. deposit unchanged at 0.75%. he is addressing investors at a press conference at the molt. he says even after the ecb's mild interest rate cut the swiss franc euro interest rate remains unchanged. they have stabilize since they lifted the cap in january. he says that the introduction of sovereign money would be a risky experiment. die verging monetary policy stances and major currency areas present huge challenges still. these are the flashes coming out at the moment. a lot of them coming out in swiss so just bring you the english flashes at the moment. maybe we'll have a quick look at what the swiss franc is doing as well. there he is addressing the media at the moment. no rate change. this is of course now year on from that move when they did abandon the currency cap seeing it strengthen significantly but it has fallen back to similar levels it was a year ago and against the jurors owe no real change because there was no cha

female victim went to the market with a stab wound to the throat or neck and the male went to the chevron station to seek help and a witness working at an auto store spoke about what he saw. >> we notice add guy bleeding at the door and we did not know what happened until the police came and next thing you know we realized someone...something happened. >> pice say the group of men took off in a gray car but so far no word on arrests. >> thank you. we have develop news a grandmother in solano county is facing murder charges, she deliberately drowned her four-year-old grandson. the 51-year-old dawn diana raines-hewes committed murder in the bathroom of her fairfield home and police arrived yesterday. neighbors called in with reports of a child drowning. after interviewing her, authorities say that it looks like the debt was deliberate. we other grandchild in her care are unharmed and slow is hold without bail. asan francisco police are look ing two for problemers who beat an elderly man uncushion at twin peaks at 81. his wife is nursing bruises. they were attacked on monday by to men in the

dow components exxon and chevron are still in the red today. >> especially exxon. natural gas, iron ore, copper all struggling. bank of america merrill lynch unveiling their outlook for 2016. we have the firm's top strategist on where prices are going from here. >> opportunity in the rubble. we have an energy analyst who says there are stocks to buy in that sector if you have the stomach for it. he will tell you what they are coming up in a little while. >> plus venture capital all-star jim breyer, he will join us live to give us his take on the current tech environment. >>> but we begin with today's commodities swings, jackie deangelis is covering the action at the nymex, bob pisani is on the floor here at the new york stock exchange. first we tee it up with jackie. jackie d. >> good afternoon. tea it up, you sure did. oil prices bouncing between positive and negative territory today. we did close in the red, $37.51 is where wti ended. i think that tells you where the sentiment was at the end of the day. amid some confusion about if we've bottomed here or not. a 6

conocophillips and chevron cutting expenditures. with oil down, normally, these would be down even more. it is encouraging. they are trying to find some type of bottom. i want to note the expenditure of the cuts. their numbers were $11 billion. in october, they cut them to $10.2 billion. now, the most recent numbers we just got, they are cutting it to $7.7 billion. in a few months, from $11 billion to $7.7 billion. i'll give you an idea of the magnitude of the cuts that are going on. i mentioned, somewhat encouraging that oil stocks are trying to find some kind of bottom short-term. >> i have noted this tendency to sell losers for tax purposes in december and try to reverse that as you reposition and buying some of the worst performers. a basket of worst performers were down fractionally yesterday. the best were down more. the little bit of rotation from winners to losers may be starting already. maybe some of the deaths are out there on winding trades. a pre-packaged software firm. they are going public today at the nasdaq. hasn't

and chevron and exxon are now leading the dow, both up more than 2.5%. the other movers, first solar and public storage leading the s&p 500. mattel and electronic arts leading the nasdaq 100. >>> well, oil is still at multiyear lows, the dow is negative for the year, and there are fears about high yield bonds. is now the time for the fed to raise the rates? we will bring that you debate coming up next. should be a hot one. oh i got a job too, at zazzies. (friends gasp) the app where you put fruit hats on animals? i love that! guys, i'll be writing code that helps machines communicate. (interrupting) i just zazzied you. (phone vibrates) look at it! (friends giggle) i can do dogs, hamsters, guinea pigs... you name it. i'm going to transform the way the world works. (proudly) i programmed that hat. and i can do casaba melons. i'll be helping turbines power cities. i put a turbine on a cat. (friends ooh and ahh) i can make hospitals run more efficiently... this isn't a competition! >>> all right. the fed meeting is nearly upon us and you know what that means

then we've got the very popular chevron tailgate bag, popular chevron pattern here, that the ladies really wear, you can take your tailgate wear, it is something that you must have for the holidays. >> leave it to the parking lot, though. >> cannot wait for that game saturday night. got flexed back to 8:00. >> 8:25. >> thank you for coming in. so, welcome. >> st. louis blues, good team, too. we've have a good record, right? fifteen, 12 and seven, will win the met political tap division. >> you didn't hear from that from me. >> you want to start with the santa sack smear. >> moist popular gift pack. starts at $150, and you get two tickets, get signed puck, free concessions, you get more fun good east, get xfinity live gift card, the whole package. >> great value. >> great. people love it. >> claude giroux bobble head? >> yes, so, he is looking sharp, yes? >> $49 gets you the bobble head plus ticket to the february 11 flyers sabres game. >> he's playing bet they are year? >> yes, we saved the best for last, captain claude giroux at the end of this. >> and this is cool throw back jersey from

conoco, chevron.me to will mean less oil on the market that it will be a long time for the tarp -- starts to take effect. betty: give me a sense that people are just giving up forecasting oil. will: the people we have talked to have been pretty gloomy about the oil price next year. we did a survey of analysts. -- they expected to follow in the next year. the iranian thing is already in oversupplied market and you will see after barrels next year. survey, thet bloomberg survey which was interviewing over 100 commodity players in the industry. that those that were surveyed forecast it commodities. stabilizing next year there are some which are forecasted. , natural gas.t will: i think it's a mixed picture. some people are bullish about natural commodities because we have to deal with the effects of el niÑo on production. there are concerns that the wheat harvest might not be so the next year. mark: it showed overwhelming pessimism for copper, glencore came to mind. linked torrevocably copper. will: this

heavyweights like chevron, goldman sachs, and exxon mobil were the greatest drags on the dow jones industrial average. catherine: you mentioned energy stocks. renewable energy is one of the big things coming out of the ongoing paris climate summit today. william: this is technology that a long time ago was very expensive. now people are saying it is not just an ecological argument, but now it is really affordable. more and more investors are shunning coal, gas, and oil. those figures have skyrocketed since last year. there are at least 500 institutions with more than $3.4 trillion in assets that have pledged to avoid or cut holdings in fossil fuels. let's take a quick look now at other business headlines. yahoo! shares are up on news that it could sell its core internet business. that's according to "the wall street journal." the company's board is looking at spinning off more than $30 billion in shares. yahoo! buyers -- yahoo! shares have fallen more than 30% this year, but they are up over 5% today. there are criticisms over crackdowns on uber. the watchdog agency said t hat with uber, ther

>> no officers or the scene but police tape is surrounding the chevron station at the corner here across the street from the store where the victims were buying food before being attacked after dinner time. sky 7 was overhead when san jose police officers converge on the shopping center, officers say it was near here where several men stabbed a man and a woman. 9-1-1 dispatch were told the female victim had a stab wound to her throat or neck and the male victim went to the chevron station across the street where we are standing to seek help. a witness working in an auto parks store spoke to us about what he saw. >> we were not sure what was go on until we saw the ambulance coming in, the ambulance and best and we stepped aside and notice add gay pleading in r door. >> the couple was sent to the hospital with critical injuries much the group of american took off in a gray car. the incident is gang-related. >> developing news, slow now county grandmother is facing murder charges this morning deliberately drowning her four-year-old grandson. police say the 51-year-old dawn diana raines-hewe

chevron and total. chevron's capital expenditures are on track to fall by 50% by 2017. a lot of that has to do with the rate of growth between now and then. mo both of those companies have right sized themselves to break even at $60 oil. it's a long way from here but it's not 80 or 90 or the levels people were talk being a year ago when this commodity first started to break down. >> what about your other two, marathon and valero. >> so the other industry that i cover is the refining industry and that's benefited all year from lower oil prices. one of the outcomes of it is that consumer gasoline demand has been stimulated and refining margins have been some of the widest we have seen this whole cycle. valero is the pure play into that he is theme, they have had a record earnings year this year and if oil prices stay low for another 12 months we think those drivers will still be in place and refining margins can stay high. marathon is a little bit more of a diverse company and they have exposure to the upside in oil as well. their mlp just purchased an ngl business. >> na

the drop in oil doesn't just weigh on exxon and chevron. 2% right now, 3% even. exxon and chevron down 3%. industry on the entire sectors it looks like. kinder morgan down 6.5%. i should not say it weighs down all the energies. if you check out airline stocks, i bet they are doing quite well. the s&p, the dow jones, the nasdaq altered drops because of the drop in oil. not enough to lift it up today. date,day, we -- year to we saw this in the dow couple days ago. was it yesterday or friday where turn negative yo year to date? becauseis noun negative of these drops that we have seen in oil. let's go to abigail doolittle. she is live at the nasdaq and she is looking at united natural foods at the open. abigail: this is the company that distributes the well popular kind bars to shares of plunging after the company missed its fiscal first c quarter earnings estimate. become me mate $.60 relative to $.60 a year ago. it's a decline at no investor wants to see. citedephen spinner increasing competition and shifting dynamics and the health food mark