conoco will have a 25% stake in the project. watch out for casino stocks tomorrow morning, they could get clobber ed as the world's biggest gambling hub begins its second day of mass covid-19 testing. macau now requiring most businesses except casinos to shut their doors amid the out break. the chinese casino hub recorded 31 cases sunday, ending an eight -month streak of zero infections. so the breakout is happening. the region relies on casinos for more than 80% of its income. casino stock, also vegas sands and mgm closed up 2.5% on friday while wynn resorts was up about eight-tenths of a percent all three were down 15% or more year to date they are the ones with the macau exposure. the supply chain crisis still impacting the american goods arriving from china, but one private equity group was far out in front of the problem. the co-ceos of red arts capital are here live to share their supply chain investment secrets. yes you're hearing negativity about the supply chain. they're making money off it. we're coming right back. sta

i think you can buy them on any pull backs >> 52 week highs conoco phillips, marathon, valero, 66, apacheve kinder more began. you don't own marathon >> sold it a few weeks ago, wish i held onto it it had done so well, i decided a bird in the hand is worth two in the bush i have kinder morgan, a nice dividend play to the natural gas discussion we were having, three quarters of their business is natural gas. i really like that one my sleeper for the next couple years is transocean. i will admit i bought it more as a trade, i think of supply demand imbalance, we'll be drilling everywhere. the rigs they have cold stacked are going to come out of cold stack. new builds honored get immediately put in production andat higher and rising day rate i like transocean. >> reminder, do not miss a new cnbc with david faber. june 22nd, 8:00 p.m. eastern time on cnbc. >>> a list of cheapest stocks in the market see if the committee thinks you should buy any of them you might be surprised by some of the names when we come back ♪ ♪ we all need a rock we can rely on. to be strong. to overcome anything. ♪ ♪

refiners are going to take it to the bottom line but also to fully integrated majors like chevron and conoco are going to see their pockets hitting the bottom line. >> it was rumperstiltskin, i actually googled it while you were talking >>> throughout the month of june, we are celebrating pride month, as we head to break, here is cnbc's cassandra. >> my son opened up to me about his true identity, his goal is to be an airline pilot and fly internationally. there are 71 countries where being gay is a crime and it is punishable by death in 13 of those countries. pride is a perfect time for allies to commit or recommit for doing their part in achieving the best future for my son, that tfe and fulfilling in any part ofhe world he finds himself. ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. >>> ♪ welcome back to "worldwide exchange." a busy day ahead for

exxon, conoco phillips all along the leader board oil has. holding up well.d, it's down about 1% for the week but we're about 6% off of the rekrepts low that we hit that was may 20th the big issue guys going forward is going to be any news on inflation will get cpi fairly soon we want the see some moderation from that 8% numbers that we have been seeing there those will be the numbers. back the you >> absolutely. thank you very much. we have rates on the rise once again but what are the traders think about it let's go to rick out in chicago. rick >> they think it was a pretty decent jobs report and rates were on the rise here and abroad look at interim. it sits at 2.66% it's up 3 on the day up 18 basis points on the week through one week chart, it's up 22 bay ses points on the week. if you think that's aggressive, two year notes closed up 31 basis points as did ten-year notes. boons closed up 31 base point ons the week those are huge, huge moves remember, ecb next week. if we look at what's going on with the dollar index, here is a chart going back six weeks

the standout for us is conoco phillips. why? is one of the few stocks in the sector that already broke above the 2014 and the 2018 highs. excel was not able to do that. to thus, that's the indication of long-term leadership, and one of the names we are looking for in the pullback in the sector. >> interesting. the only age going from 317 to 220 and six trading days. not commensurate with the move in the commodity or the broader market. it seems like people are selling first and had questions later. which leads me to believe, in our roulac taylor, a lot of choice in the energy space. does that concern you at all? >> reporter: yeah, i mean it's a sector that had this extreme run-up the year-over-year rate of change, at its highest point at 100%. that year-over-year has only gotten about 60% a handful of times. looking at a century of data, for that sector, going back to the 1930s. some additional time is required in the sector and the market overall. i follow the roadmap even tech coming off the clouds in 2003, financials in 2009

overnight prices in europe go parabolic as conoco phillips announces a 27-year long deal with the countryabor

we get to some of the bigger names and the integrated oil names like conoco philips, a quarter of itsue lost, but i want to highlight the relative outperformance in big names like chevron and exxon over here. the reason why is because they are only, and i say this a little bit tongue in cheek, only down between 18% and 19% as you can see here as we talk about the pullback in energy there are traders and investors that are looking towards the mega-cap, the large, integrated upstream and downstream names and the ones that extract into ground and turn it into fuel as a way to play the names as you play energy like many investors do when it comes to the value trade they look to chevron and exxon as well as smaller e and p producers. we'll meet a couple of people that have energy trades in their picks today. our next guest has an energy name or two on his buy list largely because of his dividend there. let's bring in michael clairefeld welcome. good to have you with us >> let's talk about what dom was just talking about what is your hypothesis as to why these energy names and a lot of them

energy is the worst performing sector down 3% names like marathon to apa to conoco philips all underssure tyler? >> the problem is supply, folks, and if you support the gas tax and you do nothing to help supply, you help demand, but do nothing to help supply natural average for gas sits just under $5 a gallon remember it hit that price earlier this month the $5 a gallon. his popularity ratings are going down with every penny gas prices go up. one month ago just 4.59. in just the past month you have a 40-cent increase in the gas price and a year ago it was $3.07, doesn't that look nice by today's lens suspending the federal gas tax was last proposed in 2008. this never happened and critics of the idea say it won't help and the proposal comes one day before the ceos of major oil and gas companies are set to meet. the president set to speak over the next hour about the rising prices and what he has in mind to do for it eamon javers has more on this story. hi, eamon. >> we are expecting the president to speak momentarily so keep your eyes on the podium over at the white house where we ex

. >> so i remember my first conoco, i paid 11% interest rate in 1983, and i was a happy of the it.veling off, or we haven't gotten to the tipping point yet where we see higher rates really impact prices. do you think because of the inflation situation that a we're in right now that the fed really has to to take rates up? what we saw in the early '80 #s, the scenario you're describing? >> perfect. so in the early '80 #s, we came through it, and i think that we are again. the rents are so high right now, and les such a pent-up demand in cities like boston the, industries and new york where the rents are so high that the sales are going to adjust. jackie: even with a little interest rate rise, we're seeing that the leveling off, because i think there's still buyers out there exactly thinking about it the way you are, it still costs a lot to rent. so even with interest i rates at roughly 5%, it still makes sense to try to buy and get in now. >> this is a good opportunity. this is a good understood. so if you think about -- this is history. when rents are down, sales lag a little bit. w

>> i love eogs conoco if i am incompetence, devon energy fertilizer cfx strides, canada i see the chickenoods, also, stipend bigger in beef than chicken shipping, mad sen's safe there is a lot of good places to be. you are finding opportunity as you always have good you. thanks so much. >> thank you. . louis navellier joining is morning mover roku up nearly 4% premarket streaming service announcing partnership with walmart yurts able to use the roku remote to purchase shopable eggs from tv set on the move quick break then president biden still maintaining inflation in america lower than elsewhere in the world even though we fact-checked it to be wrong louisiana congressman steve scalise here i don't know that is just not true. stay with us. >>. >>. >> . >> he says inflation is worse everywhere but here that is not true u.s. has worst inflation than germany france japan canada india italy saudi arabia why -- >> i think what we are saying is that -- uh when you talk about inflation it is a global thing, this is something that everyone is feeling, because of coming out of once in a lifetime

we got name like eog resources and conoco phillips and marathon petroleum all trading at an all time high. anything to do with inflation, this is the one that consumers noticed first. it is posted on signs where eve you go >> and the category for additional warnings for folks, credit suisse is warning it is likely to pose a profit loss as a result of the war in ukraine challenging in the airsia-pacif region it is likely to lead to a loss for the entire group for the quarter, it is one of those banks that's been hit hard, continual and a never ending saga for this bank. that warning of putting pressure on other european banks as well. we'll be looking at red across the board. of course, this is hit the hardest down about 5%. meantime, shares of chinese maker, byd is rising over night. the company is set to send batteries to tesla very soon the executive says, "we are good friends with elon musk," tesla did not respond to cnbc for comments that's interesting >> after being competitors for such a long time to have not just frenemies but friends that's an interesting development. >> elon

precipitously these semi-conductor stocks have fallen we'll end with a check on the energy market, conoco-phillipsergy, oil and gas doing well in the premarket trade. maybe no surprise given the fact of the oil prices today. >> 9.5% increase in wti. >> president biden meeting with jay powell and janet yellen yesterday. here's her take on it. h . >> the president emphasized his intention to do everything he can to lower the costs that americans face for important items in this budget for example for prescription drugs, for utility bills, things where the president acting on his own or working with congress can make a difference. >> we'll have more of that interview for you in just a few minutes. >>> meantime, let's talk more about high prices, markets ready to kick off a new month on wall street, and a new month for you. not just on wall street, everything gets to enjoy june. joining us from wharton school of business who recently said on "overtime" it was, professor, that we are 5% from the bottom that's oddly specific. are you standing by it >> oh, yeah. i am i mean, i think earnings are going to

lauren: diamondback, eog, valero and conoco phillips yesterday touch ed record highs and you can seewell. oil prices are stronger and we get the latest inventory data in a bit. stuart: $120 a barrel oil, nearly $5 gasoline, energy stock s go up 120 on crude oil as we speak, and then there's ro ku, show me that, please. there is talk about netflix buying them. that's why they're up 4.8%. lauren: so business insider is reporting that the employees at roku are discussing the possibility of netflix coming in buying them and the question is why? well, roku has been heavily discounted. the stock price is down 60% this year so they are cheaper, and netflix is already discussing a cheaper ad- supported service so if this happens, netflix be able to offer its ad-supported tier on the roku platform. stuart: david bahnsen's head is about to explain. lauren: so is yours. stuart: i don't think it's up to much. >> well i don't know if the deal happens but it's more i think the deal is a terrible idea and here is why. netflix has about $6 billion of cash on the balance sheet. roku weighed down in v