miller will highlight the medicare extenders. medpac will use -- we will use today's hearing to give everyone a refresher course. extending these programs has a cost, and every time we spend money in one area we're making a decision not to fund priorities in other areas. clearly, there are many areas that are in need of reform within the medicare space and medicare program. medpac has innovative solutions and i look forward to hearing from the report. meeting with medicare providers around my district and state recently, there's been a resounding krn that i've heard from all of them, and that is overbearing regulations are increasing, burdening providers and seem to be driving out and discouraging small providers in particular. i'm worried about the direction we're heading in this area. i'm hopeful that my colleagues on the subcommittee, the full ways and means committee and this congress can work together with the new administration to not only spur innovation but reduce regulatory burdens across the medicare program. with that

the saudi and russian language says they are in favor of extending the cut.he saudi oil minister playing up russia's role in rallying support for non-opec countries. you will see how much influence they have. let's put up the risk radar and have a look at the broader equity picture. there's the oil price, the shanghai composite as well. a couple things going on in big investment, infrastructure playing out yesterday and today. then we have the very short term factory data coming in worse than expected in terms of expectations. manus: it was a debate between the money xi jingping p promised versus actual delivery. you will see update o -- see a btit of a better bid. aussie dollar up for a fourth day, a nice move higher. again, this is really tied to the commodity complex. as you say, it was disappointing chinese data, but the markets in terms of position, the net longs, any sort of turnaround in oil helps the aussie dollar. have they got a missile that can get to guam? that's the question. anna: a separate test of the ballistic missile over the weekend, dollar

if they do go ahead to extend the cuts, it seems likely end to extend the longer into 2018 and feels believe that anymore. thoseya is back from disruptions, pumping the most oil since october of 2014. how much more pressure will this put on the price? they have increased, and this is one of those factors that is always there at the back of the mind of opec in the markets. there are a number of members using well below historic levels. 700 96,000ck up to barrels per day and they want to get to 800,000 of the end of the year. they need to maintain that. there is fighting going on, portugal. -- there isiging going on and ports are closed. they need to maintain that. at $1.6eviously was million. -- 1.6 million. they are at half their historic levels. venezuela is always them -- also down. then you have iran that is pumping closed or near to historic highs and they say they want to increase more. you have the prospect of more opec oil coming on the market, so that puts a question around the long-term ability for them control prices by making cuts. >> let's get more analysis. we have the h

if they do go ahead to extend the cuts, it seems likely end to -- to extend the longer into 2018 andon't believe that anymore. shery: libya is back from those disruptions, pumping the most oil since october of 2014. how much more pressure will this put on the price? anthony: that's right. they have increased -- and this is one of those factors that is always there at the back of the mind of opec in the markets. there are a number of members using well below historic levels. libya is back up to 796,000 barrels per day and they want to get to 800,000 of the end of the year. effectively, they are there but they need to maintain that. there is fighting going on, ports are closed. they need to maintain that. libya previously was at $1.6 million. they are at half their historic levels. nigeria is at the lowest since the early 1990's. venezuela is also down. t e same time, you have countries like iraq and iran that are pumping close to or near to historic hhsnd they say they want to increase more. you have the prospect of more opec oil coming on the market, so that puts a question around th

addressing and determined if we should extend them or not. they've been extended several times in the past without any policy modification. for members, that's a vote that's occurring, my belief is. so we'll begin asking questions and mr. miller has agreed to that. if you need to skedaddle over there, please come back after the vote. so, mr. miller, can you talk through each extender and what med pack has concluded about each one of them. >> in five minutes, that's a little bit difficult, but -- what i do want to say quickly, all of this has analysis and detailed work behind it, but i'll just try and hit you with the top line. special needs plans, we've made recommendations for each of the categories. we've recommended continuing the institutional special needs plan. with respect to part d special needs plans, we've recommended that you continue those, but you have a requirement for integrated care between medicare and medicaid. for the chronic care special needs plans, we have said that dominant conditions like aids and esrd, they make sense

put kurds to extend into next could- output curves extend into next year.will go along with whatever decision opec makes at its meeting better this month. james barty still here, head of global trust asset that bank of america merrill lynch. opec on one side, and maybe russia as well on the other side , and writing u.s. production. who wins in the near term? until now, it looks like the rage in production has dominated opec cuts. we are still of the view that as we go through this year, we are going to get rebalancing in the to see and we will start excess inventories come down. what i think we saw last week was more of a technical washout. people have been betting on higher oil prices. people gave up on the bets last week. what we sent from opec over the weekend was renewed line,ination to hold the and that is going to stabilize the market. i don't think we are anywhere near a repeat of last year when the oil price elapsed because global growth is much -- collapsed because global growth is much better. the level at which extra production starts to come on

revise and extend. the speaker pro tempore: without objection, the gentleman is recognized for one minute. mr. speaker, i rise today to demand the congress get serious about the russia investigation. in december along with mr. engel of new york i introduced the pure democracy act that would sanction any foreign individual or entity found to have unlawfully interfered with our election process. that shouldn't be a partisan issue. yet all of the bill's 88 co-sponsors are democrats. i'm also co-sponsor of our protect our democracy act to establish an independent commission to get to the bottom of the russia thing. a recent nbc poll conducted in april found 73% of our fellow americans want such an independent commission. they want to get at the truth. so do i. so should all of us. i signed a discharge petition to get that bill to the floor. i urge my colleagues to support these two measures and bring them to the floor for consideration. it's our constitutional duty to provide oversight of any executive in a

if they don't extend, you're looking at $40 in wti and at low 40's on brent, so they will extend and the question is world amanda. mark: talk to me about copper the selloff in both continues, a link to china as well, demand. how low can these commodities go? takingcopper market is it on the chen recently, a market that was just over 2.6 zero and now low two-40's. a tightening monetary policy stage and quietly agreeing to take steel exports and cut them down. they are already cutting what they call shadow refiners, their smelters. as that continues to go on and there are economy is not producing at 7% growth, but 6.5% growth, we will keep the commodities complex under pressure. they are the elephant in the room, and that elephant is not asing in as much iron ore they took in the first quarter. they took a lot in the first quarter, but for a year on year basis, we are seeing declines, affecting australia, one of the reasons the aussie dollar has been under pressure, and will continue to see that, so no, i would not look for anything in the bull market for rebar or copper. you need to g

if they are willing to extend that we --excuse me -- would be able to extend the hand if they were willing to unclench their fist. that is my interpretation of the obama doctrine. is trump saying the same thing when he is talking about strategic patience has failed, but hugh stated he would be honored to talk to north korea's kim jong-un? host: we will hear from a congressman. guest: a great question. you are well informed. there are differences between this administration and previous administrations. the idea of strategic patients goes all the way to clinton. we will extend a hand if you are willing to unclench your fist. it hasn't worked. the evidence is clear. they have nuclear warheads. they are developing icbms. if our objective was to protect americans and american interests , i don't see how anyone could argue strategic patience has not worked. we did extend a hand to north koreans. we did in the 1990's with president clinton, again in the bush years. they did not unclench their fist. it is important we have our allies. it is important china joins us. things are moving in that dire

in a partial victory for the haitian-american community, the department of homeland security extends temporary protected status for tens of thousands of haitians who fled their country after the devastating 2010 earthquake. >> over 50,000 haitians, some who have been living in the u.s. for average of seven and a half builtyears, who have their families and homes and businesses here, are facing deportation to haiti. is notas we know, equipped and ready to absorb all of these refugees. amy: as haitians a bit extension should be longer, we will speak with new york city councilmember jumaane williams, who represents one of the largest populations of haitians in the united states. all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace report. i'm amy goodman. in manchester, england, at least 22 people were killed in a bombing at a concert arena at the end of a performance by american pop star ariana grande. dozens more were wounded in the explosion, which appears to be a suicide attack. this is 19-year-old sebastian diaz, who survived the blast. >> we

revise and extend. the speaker pro tempore: without objection, the gentleman from south carolina is recognized for one minute. mr. wilson: mr. speaker, president trump gave a remarkable speech yesterday during his first overseas visit. speaking to over 50 representatives to muslim nations, the president outlined the future for positive relations between the united states and predominantly muslim nations around the world. the president's remarks in saudi arabia were extraordinary. i was especially grateful to hear his call for unity of all people and all regional faiths. islam, christianity, and judaism, as well as a strong condemnation of islamic extremism and terrorism. president trump remarked, quote, we pray this special gathering may some day be remembered as the beginning of peace in the middle east and maybe even all over the world. but this future can only be achieved through defeating terrorism and the ideology that drives it. nd of quote. the president also cited 95% of victims of terrorism are

extended as what they are saying. the price of oil since the start of the year. that is what we haven't the moment. this is a joint statement with the saudi and russian oil ministers. you're watching bloomberg. ♪ rishaad: this is "bloomberg markets: asia." i am rishaad salamat in hong kong. haidi: hi m haidi lun in sydney. quickly these lines from toshiba quite a time when it comes to getting earnings. netees full-year negative worth for the company of ¥540 billion, that is without the chip sale it is highly anticipating, saying the review of earnings is ongoing. had quite a tussle over these massive losses at its westinghouse unit, the nuclear unit, in the u.s., and the dispute is still ongoing. some other lines in terms of what it sees as the forecast for fiscal 2017 come up full-year operating profit at ¥200 billion , the forecast when it comes to net is ¥50 billion, so just getting some of these numbers from toshiba. we will try to get more details, but the plan is to reverse negative worth for the company followi

extend into next year. production and shrink a market glut will be extended into the second half of this year and possibly beyond. he is confident the global oil market will soon rebalance and return to a healthy state. ppg'sbel has rejected third takeover bid. it was a $29.5 million offer. that comes in defiance of shareholders like elliott management. in the u.k., theresa may's government has accused some european union countries of wanting britain to fail. in the most outspoken comments so far, amber rudd claimed jean-claude juncker held hostile briefings against the prime minister to deliberately influence others. global news 24 hours a day powered by our 2600 journalists and analysts in more than 120 countries. this is bloomberg. manus: the centrist candidate emmanuel macron won a wider victory over the far right marine le pen in the polls had expected. he took home 65% of the votes in the french presidential election. investors will now be watching how he organizes. philippe is the managing director a

the ceo is extending his reach into italy. last week there was an announcement that they were going for another part of the business in argentina. julius baer saying that inflows at the mid range on an annualized basis. let's talk about the markets. oil is up. anna: we are straight into the swiss business day, let's talk about oil. manus: all aboard the great opec bust. that seems to be the sentiment in the market. template 5% on the price of oil last week. around $50, this is the momentum,. rigs has number of had the longest run of gains since august, 2011. it's the direction of travel. no matter what they seem to do theyen opec and non-opec, have got to get themselves a little bit more aggressively poised to reconcile their cuts, and that is the direction of travel. anna: we will have more on that fantastic interview on the oil story later on in the program. let's get the risk radar and show you where we are on asian equities. oil majors doing quite nicely in the asian session, up by .7%, s&p futures are pretty flat. on that

so if you watch the video, he extends his hand and comey's arms are really long. he extends his hands preuptively and trump pulls him into a hug. but the hug is entirely one sided. comey was completely disgusted by the episode. he thought it was an intentional attempt to compromise him in

in the extended forecast. to cool it down more and introduce the possibility of scattered showers. i'll have a look at that coming up. >>> all right rosemary, thank you for that. new this morning we want to update you on that massive five alarm fire right off 580. >> that fire started on san pablo avenue at a building under construction. now the building is just off 580. look at these pictures. this is what people were seeing from the freeway. flames did spread to nearby condos. there were also evacuations. but fortunately no one was hurt. this is if you're wondering, yes, the same building that caught fire last july in a six alarm fire. that fire was blamed on fire works. >> and about 30 minutes ago, firefighters told us the majority of the fire is contained but they'll be at the scene for a good 24 hours not only investigating but a number of hot spots and things to secure. christian captain has been at the scene in emeryville all morning long and joins us now with another update. christian? >> yeah, frankin

into thecould extend second half of the year and possibly beyond. chinese overseas shipments held up in april as global demand recovers. the forex reserves rose for a third month. ♪ anna: welcome to bloomberg daybreak: europe. manus: emmanuel macron got the votes. the euro had 90% possibility that this event would happen. this is volatility overnight in the euro. you have things like the ecb. yellow.meeting is in it has dropped. euro is down. euro sterling is down, euro-yen is down. had alreadynagers covered -- sorry, they were already net long about this by the most on record. -- buyn appalling phrase the rumor. anna: we do not know what the ecb will do as we go into june. we do not know how much of power makcron will have. let us look at asian equity markets. at theng china come asian equity markets are doing very well. the chinese story is different. down another percent on the chinese equity market. u.s. stocks closing at a record. jobs number was decent. all of that lifting the general sentiment but the chinese story is different. billion loss

saudi and th arabia and russia y they are extending cuts to shrink a global glut. it was announced at a joint press conference in beijing. we are joined by tracy alloway in abu dhabi, and mark cudmore who joins us from seou. tracy, walk us through the market reaction. i thought we had already baked in some sort of an extension from opec. tracy: yeah. you and a lot of other people. but that said, think about what it took to get the price action we saw this morning. oil was a bit slow to move off those headlines. now wti is up 1.5%. but this thing that has happened, saudi arabia and russia are making some strong statements here, including a joint statement that they will do whatever it takes to get to their long-term goal of reducing global inventories. meanwhile, they are talking about extending the production cut agreement for nine months instead of six months. that might be what is helping some of the oil price action this morning. i know you mentioned cftc. unwind alle funds bets on an opec driven rally, and that could mean there's extra money around this morning

russia says it extends reports extending opec cuts the on the end of the year.arlier, -- emmanuel, presently end ofcommemorates the the second world war in europe. >> we have the strength, energy, and the will because that is what has carried us to this position. that strength will ensure our feature. we will not give up debt given to fear, division, and lies. he is 39 and the youngest toson ever to the elected france's president. it had ramifications well the on france. to go over this, we want to turn to alan crawford. take us beyond france. >> we have a series of .nternational summits , followed by g7 leaders. also, we've got the next big one in the u.k.. in terms of european ramifications, this is a big one. >> there are quite a few elections coming up. changes the possible that this win might have for places like germany? germany is key to this and we saw an indication of that last night. ,he chancellor, angela merkel offered her congratulations. to make hispected first foreign trip probably to germany. expecting the french german access that drives the eu.

extend and pretend. >> that's a very good point. extend and pretend, almost sounds like a central bank. you talk about exit strategies and extend and pretend. sabina, thank you very much. also want to thank steve sedgwick, of course who hopefully got more out of this opec meeting than just pastries and the wienerschnitzel. thank you very much, steve. >>> what i want to show you is the ftse 100 in the uk, currently up by 0.2%. there you go. 7,533. easily taking out the 7,500 level once again. and it's hit that fresh high this morning on the back of the poll showing that there's a further tightening in the election polls in favor of labor. conservatives lead is only 5 points. that's obviously putting a lot of pressure on the currency. e-mail the show, streetsignseurope@cnbc.com. you can find us on twitter, cnbc and tweet me at @carolincnbc. >>> the tranquillity of the low ke location belies the uncertainty of the location of the meeting of the g-7 7. we head out to this beautiful spot after the break. cdw implemented dell poweredge se

tarek fadlallah: it's probable they will agree to extend the cuts. think over the midterm, that will have an effect. while you see the account going up and the output increasing. if opec maintains this latest cut, it is very difficult for the show producers to bridget the gap. i would expect industries to be affected in the midterm. yousef: what it means for saudi just embarked on this reform process and a couple of weeks ago, they do a u-turn restore bonuses and say well for made more progress we expect we can afford to. oil, is it move in turning everything on its head again? tarek fadlallah not yet. $46.ntly, if it stays at these levels, concerns will be raised about the prospects for austerity measures across of the region. for now, this a short-term moving oil prices and i've like to wait a week or two. made a great point, the extension of the opec agreement is pretty much baked in. given that the agreement does not seem to us had the desired effect, we can all agree double what else can opec do at this point? tarek fadlallah: they need to persi

a little movement in extended hours.et's hear from top strategists on what will happen. >> opec's has boxed itself into an outcome. they have been telegraphing it now for weeks. chances of a surprise are pretty small. small surprise, but let's go back to the bloomberg. smart money is taking money off the table on those bullish positions. the blue line is the wti. the yellow line is the mid-average and long-term positioning. comes waye the spike back down to average. looks like traders want to be careful as they go forward from after the meeting. you never know what will happen with opec, saying one thing and doing one thing is another when it comes to the opec minutes. back to you. yvonne: i will be watching out for those hints. first word news with paul allen. greater manchester police of carried out a rate across the city, saying monday's suicide bombing was part of a network of potential terror. six people have been arrested since the attack and security stepped up across the u.k. british and french security officials

curbs intoc extended 2018.n was hardly unexpected. >> and president trump shames allies, saying they must contribute more to defense spending. yvonne: and awkward dinner at the table. coming to you live, i am your yvonne man. past 8:00.st good to see you. ands get you a quick recap show you how the day starts off. the nasdaq, hitting a fresh record. this is all retail -- off retail, but we have been talking about oil. we will see how that all plays out. yvonne: it was interesting to see the irony, the records. it was the retail that really helped. going to be a big focus. ness in asia.us let's get to the open with shery ahn. we getwe will see if that tailwind coming out of wall street, but so far, it looks like a modest open for asia equity markets. we are seeing the japan nikkei fall. stocks climbed to a two-year high yesterday so we could see some fallback, especially with oil slumping. 200, down. we could also see some pressure on the aussie dollar. the japanese yen continued to strengthen a little bit. that

. >>> opec ministers are meeting in vienna today and are widely expected to extend production cuts that were agreed on last year. steve entered the building and is due to go live from the media scrum with the ministers in the next 15 minutes. that's usually quite entertaining and usually informative. >>> let's get back to the other top story. president trump is meeting with eu leaders this morning in the latest leg of his trip. the atmosphere among the delegation is expected to be somewhat tense given the derogatory remarks president trump has made about the european union and brussels in the past. let's get out to hadley who has bv covering the strip. the latest leaks are not helping the sentiment. >> we understand that president trump will meet with theresa may later this morning and obviously those intelligence leaks which have dismayed the european and british defense and security teams will come up. the bigger questions are whether or not this has implications going forward for nato intelligence sharing. over the last year or so we've had several conversations with eu and british m

opec and its allies extended all production cuts and nine more months. failed to get a grip on prices. advisor andonomic bloomberg commonness -- onomberg economist explains daybreak americas. >> this is a different opec agreement. it is different because they need to include non-opec and, second, it is much more differentiated among its members. that is why it is holding. in terms of uncertainty, i don't think it's the aramco ipo. so far they delivered half of because they promised and, second, it is great to have alex out in houston, because we don't the share. that we are atis a $45 to $55 range. when we move either way, ultimately, is a function of what shall does as opposed to what opec does. >> it is very difficult to get a cartel this site together. opec was nowhere, four years. what brought it together. is it technology that made it possible? >> yes. and it is also the november 14 when they-- in said i would no longer accept the market share reduction as treat. prices went down to $20 and that was a huge waste of opec. they said you have to take m

this week is there a sense they could extend president trump to extend those sanctions? >> the sanctions put in play in 2011 and 2012 that were so effective and forced iran back to the table, created the context of the nuclear deal, those sanctions were as effective as they were because the obam mra administratia admi convinced countries like the uk, like germany to cooperate. the u.s. acting loonu unilat ra prior to that had by theal success. the opportunity to convince those skeptics on the sanction toss go back to reinstating sanctions, they're a long way away from doing that when you listen to the foreign ministries in beijing, in london and in germany. you're not hearing minute centers ready to go on reinstating sanctions. the trump administration will have work to do to reconstruct that cole lig. coalition. >> thank you very much. >>> just on the oil market, steve will be live from vienna wednesday to friday next week for the opec meeting. >>> still coming up on "street signs," can ai drive tech stocks higher? we get a fund manager's view on the sector after this s

russiaaudi arabia and say they favor extending output cuts.hear from the saudi energy minister next. this is bloomberg. ♪ francine: you are watching "bloomberg surveillance." i'm francine lacqua in london. let's check on the markets with mark barton. mark: european stocks hovering around that 21-month high. this is the euro stoxx 50. strategists are cooling on the prospects for further gains as investors pour a record amount of money into the region's equity funds. the euro stoxx 50 index of the biggest area stocks will end the year 3.8% lower than friday's close. that is the orange line. that is according to the average projections compiled by bloomberg. it has been quite a rally for the european gauge. love this function. go, oil, highest level in two weeks after saudi arabian and russian energy ministers said they are in favor of extending a production cut deal. this is a sentiment indicator for analyst. as you can see, 71% of analyst bearish 9%,on wti, neutral 19%. look at the difference between a week ago in all those different stances. b

crude slumping, opec extends curbs into 2018. traders were left underwhelmed.sident trump arrives for his first he g7, meeting fellow travelers that he named and shamed at the nato talks. we are watching developments in sicily, where world leaders have gathered for their meeting. ,ake a look at this function tracking the trade picture between these nations. you can set that function to the united states and look at the relationship between the g7 countries, canada the top trading partner, followed by japan, germany and france. in terms ofk down .hat that relationship means we are expecting the u.s. president to address trade at the top of his agenda, pushing for more domestic trade. g7 leaders are wary whether the rhetoric of protectionism and an inward looking u.s. is going to be at the top of the agenda as these leaders meet in sicily. elsewhere, oil, the washout from that the and a opec meeting out across the asian session. singapore, malaysia, taiwan coming online. let's look at the reaction. we have not seen a bounce after all. a steep selloff in oil overn

it seems as if they will extend in 2018. >> they are talking about it. seems to be a growing swell a momentum behind that. the problem is, this isn't doing anything to solve the problem. a massiveen oil up $.10 today on the back of both saudi arabia and russia, the two biggest producers of these groups of countries saying they will extend cuts into 2018. and it has done nothing. the problem is, contrary to what the russian energy minister says , is that this extension will speed up the balancing, it will not. what it means is the rebalancing will go on into 2018. it will not make it any faster. the only way to make it faster is to cut more supply, and the problem is if you look at the initial forecasts for 2018, the u.s. department of energy forecast, they are consistently month after month, cutting their estimate on the amount of oil from opec that the world will meet next are because shale is growing so fast. that this is the chart tell you everything you need to know. this is wti. that is the point that opec agreed to trim out cut -- to trim output. >

i hope and pray that both of us will be committed to extending -- extending further out corporation in the future along with consulting each other more frequently. we are laying the foundation of a new era between the two countries in terms of our relations. i hope and pray this new administration will bring forth auspicious results. and i would like to thank president trump for his kind and cordial invitation, and i'm looking forward to hosting him in turkey along with his entire family. >> thank you all very much. we are going to go to meetings now. we had a very, very successful with the foreign minister of russia. our fight is against isis, as general mcmaster said. i thought he said and i know he feels that we actually had a great meeting with the foreign minister. we will have a lot of great success over the coming years and we want to get as many to help fight terrorism as possible. that is one of the beautiful things that is happening with turkey, the relationship we have together will be unbeatable. thank you all very much. i appreciate it. we are going to a meeting. [reporter

this after opec did extend cuts for nine months. see cells that are priced in with oil, mainly between $45 and $55. one segmentuding -- in the energy complex getting hit, thriller. we have them down 3%. the energy sector is getting hits. the only sector in the s&p 500. he said the sector is washed out, expecting a rebound in the months ahead. let's see if that happens. it now we could explain why oil is rebounding. this is 7831. in blue we have opec daily production the last two years, white is u.s. a drilling activity. last summer after the price of oil started to recover, the drillers came on hard, adding rigs. then the price cut last year, oil production from opec coming down so the supply cuts are being offset by what is happening in the u.s. with production, keeping oil range bound and explaining why energy stocks are lower now. turning over to retailers, we have staples trading higher, up 4% after they will rebuff cerberus, their bid was too low, but sycamore is in the running. , after the3% earnings where they were looking fo

but there are very few other rights that were extended to nationals. so, for example, u.s. nationals that came in the u.s. could be denied employment by the federal government because in a series of cases it was made clear that nationals were not eligible for employment with the u.s. government. so the gonzalez case is really a turning point here because by say 1904 the united states is now legally bound to admit puerto ricans entering through new york. and this would, by extension, apply also to filipinos. so the original promise that some in congress had made, you know, that we would be able to control the effects of our colonial policy overseas and limit migration proved to be untrue in this case. and once puerto ricans are arriving as nationals, they are still though subject to xenophobia of all kinds. and we see this especially as we move into the world war i period. as we move into world war i, the u.s. will define puerto ricans actually as u.s. citizens under the johns act, and this will start -- in the jones act, and this is the result of puerto ricans themselves ag

commodities, oil prices are jumping a saudi arabia and russia say they are in favor of extending the production deal another nine months. is it just talk or will the parties actually reach a firm agreement? the new president of france as and a prime minister. edouard philippe. we are about 30 minutes into the trading day in the u.s. julie: we are seeing a bounce. it needs the s&p is on track for record close if it maintains these gains today. the nasdaq at a record on an intraday and closing basis. the doubt not quite there. certainly part of what is going on has to do with oil prices as we see a rally in energy stocks and wti is off as saudi arabia and russia say they favor prolonging the oil production cuts by global for the first quarter of next year. present their position and their plan to other countries at the opec meeting this month in the nfl stop crude oil prices are getting better 3% game we saw last week mid week. that is helping the big oil producers here in the u.s. interesting action we're seeing an money managers with regard to crude. take a look. the price of oil in

there is a risk of deepening cuts or extending cuts.t will not increase to the upside. julie: meanwhile, every friday we get the weekly rig count in the u.s.. we have seen it rise for the 18th straight week. opecard that representatives are getting reports about the shale industry in the u.s.. folks are making presentations to them. is there going to be enough pressure to do something more dramatic than we are expecting? >> i think so. if you go back and look at the commentary from the oil minister that there will be no free riders in the market, the up 18t -- rig count going weeks in a row is clearly a signal to the cartel. to me, it tells me that the rate of return is still too high. the commodity needs to lower and put pressure on returns to stabilize organically at equilibrium on the market. julie: let's talk about your trade then. what do you think happens with oil prices? the day after them a try fifth opec meeting, we are betting that volatility comes out of the market. uncertainty about whether they will extend or deepen. if tho

check out your extended forecast. because my tuesday, low 80's. remember, our average for this time of year, 75 degrees. if we work our way into the 90's, looks more like august that may. -- than may. it is not until next week -- but for now, it is dry and also very warm for this time of year. a welcome change from what we have had, no doubt. the wizards. can they do it? >> they need that win. let us see if the fortunes turn here. the wizards get that winter monitored one game for all the marbles. the wizards getting ready for game seven for the boston celtics. plus, like harper leaving the -- d >> and now, the toyota sports desk, brought to you by your local toyota dealer. >> it was a pretty good day yesterday for bryce harper. contract and walk off home run. today, another chance for mr. harper to put a smile on the faces of a model of moms. all this mother/daughter combo wanted was for bryce harper to hit a home run. sure enough, harbor of latched. first-inning, harbor drives when deep 2 -- harper drives one deep. fast forward, trea turner laun

revise and extend. the speaker pro tempore: without objection. the gentleman from nebraska is recognized for one minute. >> mr. speaker, i rise today to congratulate gearing high school, one of three national winners of the 2017 samsung solve for tomorrow contest. the team of 19 students took up -- took top honors out of thousands of entries and 10 national finalists. it's exciting to see young innovators from western nebraska, especially my alma mater, recognized nationally for their ideas on how to advance agriculture. the students designed a drone powered system to reduce herbicide quantity by allowing farmers directly tearget specific areas rather than spraying entire fields. mr. smith: i applaud each of them for their hard work and dedication they put into their winning project. congratulations goes to curtis, jonathan, and dakota, blake, ga by yell, cody, eric, jeremy, alexis, avier, revor, tyler, joe, carson, sky lar, payton, joshua, and their teacher. thank you, mr. speaker. i yield back. the sp

revise and extend. the speaker pro tempore: without objection, the gentleman is recognized for one minute. >> whoever spoke before me, mr. speaker, was a pretty tall fellow. mr. speaker, i rise to bring to the house's attention two fine texans sitting up in the house gallery. . barton: ben has been on my air force advisory committee in texas for the entire 32 years that i have been in congress. he and the other two members of that nominating committee have recommended to me over 100 young men and women that we have nominated to the air force academy and who are now serving defending our nation. his son is dan mathison, one of my best friends, proud graduate of the university of texas law school, former head of the texas state fed office, and successful practition attorney in austin, texas. i'm very proud to have their friendship and i'm glad to bring to the attention of the house these two fine americans. with that, mr. speaker, i yield back. the speaker pro tempore: the speaker reminds people not to ma

counting is under way in iran's presidential election, after a high turnout forced polling to be extended for several hours. the wikileaks founderjulian assange claims a personal victory, as sweden drops a long running rape investigation against him. and the film that's sparked a generational clash at the cannes film festival has its world premiere. we'll tell you what the public thought of it. donald trump's presidency has run into further controversy, after two separate american newspapers made two new allegations about possible links between the white house and russia. the first relates to a meeting the president had with russian officials, with the new york times claiming donald trump told them: ”'i just fired the head of the fbi. he was crazy, a real nutjob, i faced great pressure because of russia. the senior white house adviser under scrutiny by investigators is someone close to the president. the reports were made publicjust as donald trump was leaving for his first overseas visit as president. and, in yet another development, we've heard that james comey will testify in an open s

opec, non-, will they extend their production cuts in saudi arabia? russia says the answer to that is yes. atlanta is bidding to buy spanish -- a spanish competitor. 63.4 billion euro offer that would create the biggest operator of toll roads. the italian infrastructure company offering 16.5 euros per share for 100%. that is .3% higher than the closing price in madrid on friday. the big move came a month ago, when this deal was leaked or news surrounding the deal came out. atlanta seeking to boost site andby acquiring italy to reduce dependence on its home market. shares are little changed today. i thought we would look at , at levels wets have not seen before the -- since before the credit bubble first. that could signal improving conditions that were vulnerable in the 2013 taper tantrum, but it also shows valuations have reached expensive territory, according to pine bridge investment. just finishing off with ubs, we are getting to breaking news from ubs, one of its big shareholders is selling part of its stake. that is singapore's gic. it is to sel

crude futures in london rising above their 50 day 100 day, 200 day moving average as opec said to extendts production cuts for nine months and prices in an upturn as the benchmark for more oil brokethe world's above the 200 day moving average which has been an important technical indicator over the last year. the yellow is 100 and blue is the 200 day moving average. how is it looking at the u.s. trading day? >> muted as it was yesterday but upside for u.s. stocks. one group leading the gains today is materials, steelmakers in particular upgraded over credit suisse, u.s. to outperform the analyst there said prices will recover by late in the third quarter because of strong demand trend and low inventories, and trade dynamics. u.s. deal of three cap percent. -- u.s. steel up 3.5%. oil, after the inventory report, it has turned lower, even after we saw inventory down -- 4.3 million barrels, twice what was estimated on average by analysts . we saw a drop in gasoline inventories. we are still seeing oil inventories in the u.s. about 100 million barrels above the seasonally adjusted five-year

exporting nations decided to extend production cut's. prices are not going north. >> you would expect of two dozen nations come together on an agreement to extend the production cut's that would send prices higher but analysts expected longer and deeper cut's. the organization of petroleum and exporting countries and others have agreed to extend cut's until march of next year. >> talk of a one-year extension or deeper cut's health holdup oil prices. opec can see no reason for producing it further. the energy minister said current output levels are enough to deal with the global oil glad in the long-term. >> we have not considered a higher cut option. all indications are solid that the nine-month extension is the optimum it should bring us within the average by the end of the year. >> any positive effects could be short-lived due to large volumes floating weaker than expected demand and increased u.s. shale oil production. crude is below the 2014 highs but it is high enough now to tempt u.s. operators back into the market. the price of oi

earlier following an inventory report as investors waiting and opec meeting report to decide whether to extend supply cards. short seller carson block of muddy waters weighs in on snap, the parent company of snapchat, he says he does not currently have a short position in snap but has three major concerns. a lot to get through and all sorts of hearings and washington, d.c. ongoing. halfway into the trading day. >> things trading like a holiday weekend because of volume down today about 15% to 70% below the 20 day average for the s&p 500 and not much movement in the major averages. near record highs. we have not put above the levels. the trading range is tight. we had the daily point swing in the s&p 500. you can look at this on the bloomberg. today, the tightest range of the year, just under three point swing on the s&p 500. it has been declining over the past several days of things have calm down volatility wise in the equity market. looking at some of the movers today, western digital and toshiba, this is toshiba u.s. shares which rosen japanese trading. trading.n japanese some of the japane

. >>> coming up, a plan to extend business hours at bars past 2:00 a.m. and it's cleared a major hardil. >> plus a message of inspiration today to harvard grads from mark zuckerberg. >> you accomplished something i never could. >>> today marks one year since 15 year old pearl pinson of vallejo was kidnapped. she was last seen being dragged by a man on a foot bridge. that man identified by authorities as 19 year old fernando castro was later killed in a shoot out with police in southern california. police found evidence inside his car and home that led them to the towns of jenner and [ indiscernible ] bay but pearl has never been found. >> the police haven't told us anything about what -- what caused him to do this or why he did this. unfortunately he's not here today to tell us why he did it. we're still trying to figure out why he did it, where he took her and why her. >> her family held a vigil today at 4:00. we'll hear more from them tonight on the 10:00 news. >>> a backlog of bills ahead of tomorrow's deadline including controversial legislation to ex

saudi arabia and russia back at extending production cuts. >> the future of europe.e uk to france and joining us with his take on the politics right now. >>> plus, en-dorsey-minute >>> plus, en-dorsey-minutn-dors. >>> good morning. welcome back to "worldwide exchange," i'm sara eisen. >> let's get straight to the global market. futures have been higher, 40 points on the dow, we've slipped a little bit in the last half hour. now about 14 points, one point on the s&p, nasdaq was leading the markets, once again up about a third of a percent. with the dow down about half a percent. as you look around the rest of the world, asian trade is a little muted. up 6.5%, and fixed investment was 9%. it was expected to be a little higher than that, so, both decent reads but a little than expected. shanghai up.02. the dax now in negative territory. last week, the ftse, the best in european markets up 2%. >>> oil is a big mover up 2.5%. wti 2.42. brent is higher, up 2.3%. this after saudi arabia's and russia ministers coming out trying to curb global supply to get prices higher agai

there's consensus to extend supply cuts. joining us now is scott bauer. thanks for joining us.eek ago, we hit an intraday low of $43 in change. is it more likely we will head for that level or up toward $50? scott: i definitely see $45 before we see $50 again here. like you said, there's all this talk than a couple of weeks at the opec meeting that they are going to extend the cut. we have seen the story before. we have seen it play out before. it's a most like the little boy that cried wolf. until they actually do that, my guess is that the pressure is still to the downside here. even if they extend these cuts, we are seeing the u.s. actually produce more oil than we ever have. their up over 400,000 barrels a day now on an increase. saudi arabia actually increased their production. hold the opec decision kind of with a grain of salt here. mark: surprise us, scott. is deepening the cuts something which they couldn't announced -- could not only announced that actually implement? scott: i'm not sure what they are going to implement, but if they extend the cuts year, we all know t