why exxonmobil is catching a bid. it is up 3.5%. >>> let us get you a stat right now. that is the dow jones industrials is up 669 points. the s&p for its part up 107 or 4.5%. why does that 4.5% number matter? the s&p is on pace for a record seven sessions in a row of greater than 4% moves, either way, up or down. but even with today's move higher, what levels do you, the investor, need to be watching? we will bring in nyse trader, new york stock exchange trader scott redler who joins us on the phone from new jersey. john corpina is on the floor of the new york stock exchange. scott, i will get to you. speak specifically to the s&p at the moment. where do we need to hold above that would give investors some encouragement? >> this morning we came in, we were looking at the december 18th low. that was 2355. we hit this morning 2367. so by holding above that level, it gave a little bit of confidence for traders to dip their feet into the water and try to play it out. after huge days to the downside, typically the market h

exxonmobil i don't know how much more we can talk about these exxon's yield at 6.7 highest in 35 years ox denle is highest. but no guarantee they don't cut capital spending although chevron said they are giving money back to shareholders for five years but they could cut dividends. >> they could cut dividends. when i look at exxonmobil it's is a 7% basically dividend and then you look at the stock down 25% year to date. so in theory, i disagree with the game because i never buy something just for the yield because you can give it away one or two days bad price action i don't believe the energy space is right with any type of bargains i think we are oversupplied i think there is glut of energy. you have to see the commodity level off first and bounce considerably before the subsector is okay. >> i get it. >> opec meets tomorrow and friday we did something on power lunch for that tim, this is for you, you ready. >> i hope so. >> i wonder. >> don't hang me out here. >> i wonder if this is the sign of a bottom. jeffreys, said they are done, giving up completely on energy and, worse, they c

pte rate exxonmob exxonmobil, 15.5 and chevron, 16. and again, some of these numbers will change, kelly, when you look at yahoo! finance, whatever it may be. but you can see on a five-year basis on it's pe ratio, they are, i suppose, discounted >> come on over. >> you don't know what the pe is going to be. >> i'm surprised they're not cheaper. cheap in single digits >> those numbers double. >> right >> there are 13 companies that have a price to earnings ratio, trailing pe to 9 >> let's flip it around, we talk about sam zell's point are there companies with a better profile? effort is great that the companies are tradesing lower with etf than when oil was back to 25. >> depends on the names, oil say four-letter word spelled d-e-b-t. i was going back and forth with high interest debt payors when i came on. the worst your credit profile is the harder you've been hit i'm not telling people to buy stocks but i will say this, if you want to find some of these names that have investment-grade ratings and there ain't that many, with exxonmobi

s&p ratings agency has sliced exxonmobil's rating from what's called aa plus to aa. the outlook they are giving it is negative. s&p ratings are saying it will get another downgrade if the oil giant does not improve its cash flow. the stock is down 6.7%. as this very broad-based selloff spills well beyond the oil patch, let's get to the floor show. when i say floor show, i'm putting an asterisk. teddy weisberg is not on the new york stock exchange floor. he's joining us via skype. denton is in atlantic highlands, new jersey. scott bauer from cme headquarters but not in the open trading pits which closed for the foreseeable future this past friday. gentlemen, i apologize in advance if i interrupt you, if we see that news conference happen. scott, i'm looking at the russell getting creamed. transports, soft commodities, meal delivery company blue apron up 38% but what else do you see? where do you see this? >> you know what, i actually was seeing some bids come in earlier, maybe a couple hours ago, in some of the big banks, jp actually, which had been down lower earlier

chevron, exxonmobil. while for exxonmobil, down 9% and chevron down 13%, they are not down as much as the shale drillers because they have other businesses such as chemicals. they've got a chemical business so they have a little bit of preserved exposure they don't have to worry about. if you look at the pure play shale names, they are really getting clobbered. flip them over to names like noble energy, diamondback, transocean. noble down 34%. transocean down 38%. diamondback, an independent, down 43%. nabors industries down 43% because there's an excess of shale and there are a lot of players in that market who borrowed quite a bit of money and ramped up and there are d t debtloads there. the deciders with opec plus were not the oil ministers of the russia and saudi arabian nations. they are the leaders. yes, we are talking about vladimir putin and prince mohammed bin salman. how long will those two leaders hold out? what is the price pain point for each per barrel, where at least one of them will be for

i don't know if you heard this, but s&p ratings agency has cut exxonmobil's debt rating from aa-pluso double a. that is not a good thing because it means they are of the belief unless exxonmobil is able to raise some money, there could be future problems. that is why the oil patch is struggling. we have peter schiff, not just on gold. we know he is a gold bug. but we're looking at platinum, palladium, and copper is industrial health for the nation and the world. palladium in catalytic converters. look at ford, gm, automakers are getting hammered. there is a belief people will not buy cars in the future. scott ressler, teddy weisberg, not a trader on the floor. the floor is open. kristina partsinevelos in the final hour and much, much more. we have a leisure analyst. we'll talk to him about, are there any aspects of the leisure sector that could do well in all of this. and of course we'll be watching the markets. >> liz claman, we'll watch you to, "countdown" at the top of the hour. "the claman countdown." i repeat this, british actor idris elba tested positive for the virus. he is ok

ten years later it was ninth on the list between birk sher hathaway and exxonmobil if the iphone apple was off to races and in 2010 sold 40 million device by and boy 2014 sales before just sigh of 170 million. now the figurings north of 200 million new apple phones each year. the company unique for its fascist you designed, i developed a near universally acclaimed gadget in function and panes. the iphone was ore yous and built to be handle like an intimate acquaintance. people would learn but the loss of human liveses associate it with the iphone's creation. it was too expensive, but from the stage of mac world on 2007, steve jobs announced the future of the times. the iphone's first decade nearly parallel's barack obama's years in the white house. elected in 2008 he left office in january of 2017, ten years after jobs presentation. barack obama was the first president to have a twitter account and the first to use instagram. the founders of both airbnb n in uber were in washington, dc for barack obama's inaguration. and independently they've talk but the experiences as a eureka moment

they'll be more resistant than people are suggesting because all the majors from exxonmobile, b.p., shell in the u.k. also have all gone in and they have deeper pockets. so this strategy by russia to put pressure on u.s. shale and saudi arabia doubling down on prices will get nasty. it won't lead to immediate dislocation. i don't see a winner anywhere in the world. >> no winners. thanks so much. >>> a big test for the u.s. efforts to keep coronavirus from spreading on american soil. the grand princess cruise ship expected to dock in oakland. 19 crew, two passengers. those numbers could rise after passengers are screened upon docking by the u.s. department of health and human services and the cdc. >> the first group who will be moved will be those who are symptomatic and most in need of medical support. those in need of hospitalization will be sent to medical facilities around the region. >> it's not quite prison but it's a lot like that. i am running out of medicines that i usually take. i feel like the government really didn't have a plan and they're just making this up as they go along.

. >>> as we head out to break, a look at the biggest dow laggards in the premarket, boeing, exxonmobil, united tech. our coverage is back right after this yes. it's the first word of any new discovery. but when allergies attack, the excitement fades. allegra helps you say yes with the fastest non-drowsy allergy relief and turning a half hearted yes, into an all in yes. allegra. live your life, not your allergies. ♪ yes i'm stuck in the middle with you, ♪ no one likes to feel stuck, boxed in, or held back. especially by something like your cloud. it's a problem. but the ibm cloud is different. it's the most open and secure public cloud for business. it can manage all your apps and data from anywhere. so it can help take on anything, from rebooking flights, on the fly to restocking shelves on demand. without getting in your way. ♪ ♪ i am totally blind. and non-24 can make me show up too early... or too late. or make me feel like i'm not really "there." talk to your doctor, and call 844-234-2424. [ "one morwoo!me" b[ laughing ]] woo! play pop music! ♪ no way dude, play rock music! yeah! -

exxonmobil is okay. most of the rest of the guys are levered. most of them needed around $50 a barrel to pay off the notes. they were highly levered. they were starting to lose the ability to get more credit before this problem hit. as far as buying oil cheap and selling it high, that sounds great but what happens if it goes from 30 to 20, instead of 30 to 60? we don't know what will happen here, as far as what happens between saudi arabia and russia. remember the fall of the soviet union a lot was predicated because of low oil prices that crushed russia because of saudi arabia keeping the spying goat open. there -- spigot open. there is lot of contagion with oil companies that need prices higher because they have a lot of things to pay oaf. melissa: that's true. it is not likely. they're the ones forcing down the price, adam. it is a race to the bottom ostensibly between russia and saudi arabia. it is one of those things i don't know how long either of them can hold out because they're very much dependent on the price of oil. they have to cry u

most of the rest of the market was flattish oil for instance, exxonmobil no refraction the oil stocks still sitting at a low same with the banks. jpmorgan up for maybe five minutes and then back down again. none of the banks reacting either >> for five minutes, it pretty much sums it up. >> you say something that many, many people are saying our fed rate has a way to go here why not have a big fiscal stimulus package what do you make of this big announcement >> it can't hurt it won't be the solution for two reasons. number one, it is the supply side shock there is a ton of activity we'll lose because people don't want to leave their homes or travel the fed can't fix that but beyond that, there is the fact we are in this brave new world where single banks just don't have much ammo the you're penal central bank and the bank of japan are below zero there is nothing they can do the fed will be out of ammo. and with the long bond at 1%, taking to it zero. these the conditions that are tailor made for fiscal policies. it becomes more powerful at moments like this. >> we'll come back to this

my next guest said $20 oil is coming this year he's a former exxonmobil senior adviser for the middle east, as well ali, good to see you so you're hardly optimistic on this scenario. why do you think that oil is headed lower from here even into the 20s? >> thanks for having me, kelly i'm generally bearish because we face an unprecedented and historic situation of a supply shock and a demand shock at the same time. obviously, the demand shock stems from the coronavirus and then the supply shock was precipitated by this price war declared by both the saudis and the russians trying to stem the rise of american unconventional production. >> so that being the case, how low for how long >> to be honest with you, i don't think there is a floor on the oil price. certainly, it's somewhere in the 20s but it could go lower. the only -- the floor will arise when physical barrels of production are taken offline so the saudis announced today to surge production to above 12 million barrels a day. the russians have been producing near all-out and also i think announced plans to increase half a millio

in retrospect, it's bad for this commodity spin-off that's chim jimmy cho talking. 10 is exxonmobile.nd of willist is this regina, what kind of list is this that you gave me with there staff? did you put these together >> no, that's how they are >> oh, man okay here we go oh, geeze, exxon, wow, it's trading at 14 times earnings some kind of safety net. it's ridiculous. i don't care if everyone presumes it, why buy it? exxon is more than chevron i think it will go below 40 before we think about, i'm sorry to be so negative on oil but i told you so. i know all these are severe, but as i've said over and over and over, there are very few stocks worth buying here. a whole lot more to do more work, sold in a recession. we got to use that december 2018 playbook when i look over the first ten, though, hey, i got one coca-cola. i mean, c'mon, this is a tough bunch. rlo eay. "mad money" is back after the break. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores ever

right now it's down 1350 oil leading the way after oil prices crashed overnight so we're seeing exxonmobilvron those stocks under a lot of pressure today. the cruise lines, the airlines also selling often over the weekend the director of the national institute for allergy and infectious diseases doctor anthony felt g warned americans with underlying health conditions against boarding cruise ships and airplanes and then the state department recommended americans overall not take cruises for the time being well some customers at whole foods received an alert about low supplies when they open the whole foods section of the amazon at this weekend. the alert came after some customers reported extremely long wait times for the prime now service the note just said due to increased demand at this time availability may be limited so not a lot of details there about that and atnt suing one of the biggest cities in california over disputes is holding a better wireless coverage. the company has filed a complaint in federal court against oakland after long delays to get small cell technology tour parts

in the meantime, exxonmobil is holding an investor conference today.o be hearing from the company, just hearing from it recently saying sit planning capital expenditures of somewhere between 30 and $35 billion annually through the year 2025. we'll be sitting down with exxon ceo today and bring you that conversation tomorrow. right now, let's get to dom chu. what are you watching this morning? >> so becky, you indicated the dow will open down by almost 570 points a in the stage. we have some outperformers premarket in a very negative overall take and analyst calls are helping in some of those causes we'll start with shares of johnson&johnson down to the downside hovering unchanged the drug and consumer products company as well as dow component gets initiated with a slate of other companies as buy rated at citi that's helping the cause only down quarter of 1% you also have shares of snap which are up around maybe half a percent or so, roughly 85,000 shares of premarket volume green is down. snap is upgraded to a buy rating they have $19 price target they

phillips 66 down 9%, exxonmobil down 12%. chevron getting crushed here, down 21%. valero down 13%. royal dutch shell down 16% on a normal day we might say these are hugely discounted. they are real opportunities. we do just want to stress here for a moment before we get to the boeing story that it is slightly treacherous, slightly is an understatement, to try and extrapolate what value is there from any one day to the next because just yesterday, we closed well up. we had a very nice rally yesterday but you see what happened today. we're just warning you to please be cautious. it's a little too late for that for boeing shareholders. boeing is actually in a fight for its very survival. the stock is trading below $100 right now for the first time in nearly seven years. we're at $93.87, down 24% today alone. it's on pace for its worst month ever and the aerospace giant is of course, as we have reported, begging for a $60 billion bailout. boeing was a $300 stock just a couple weeks ago. let's flip it to the companies that buy boeing. delta airlines plunging after it announced today tha

same with exxonmobil rallied right after that trading halt it, too, drifting lower. it's been drifting down going into the half hour finally only one stock positive, walmart. we have seen how the grocery stores doing generically why are gold miners down that can move in relation to demand concerns of global demand for gold being a little bit lower if the global economy slows down and puts pressure on gold mining stocks back to you. >> reminld us what we are looking for next circuit breakers here. a 13% drop, right? >> the initial drop halts stocks when the s&p down 7% that happened at 9:33 eastern time now the next level 13% for 15 minutes. until 3:25 after 3:25 there's no halt at all unless it drops 20% or more. hitting 7% you don't halt but going to 13%. >> okay. main question that people were asking thank you. let's flip over to the nasdaq where the names of the semiconductors are hardest hit today. >> absolutely, kelly nasdaq down more than 5.5%, least impacted but you also have to look on the flip side opened up below its 200-day moving average and it is the onl

. >> when you see series declines like exxonmobil down 11% balance sheet exxonmobil down 11% this morningk us tell us where you see biggest bargains opportunities. >> i think you are rightly important sectors to look at technology for instance smashed here among, all the other sectors that have been soldoff and i think look at software space like microsoft, look at high quality names fortress balance sheets amazons, facebook, alphabet trading at now upper teens evaluation ask consumer discretionary space home depot housing is going to benefit from lower mortgage rates an opportunity to put together high quality basket of names will survive this short term impasse. >> we see you soon we will keep talking great to see you back in two minutes, stay with us. out here there are no half measures. doing it right is plan a and plan b. you need equipment that's up to the challenge. all day. all conditions. all year round. can be a sign your feeling digestive systemhed down isn't working at its best. taking metamucil every day can help. its psyllium fiber forms a gel that traps and removes the wast

exxonmobile that has a fantastic balance sheet and huge revenue. it's down 15% today. there are others down 11 and 12 percent. at some point investors will realize the people threw the baby out with the bath water and it's overdone. we're looking at a little of that this morning. not only that, as oil prices collapse look what it does for the consumer. one industry report says every dollar decline in the price of oil equates to $100 million a day or 36 1/2 billion a year in lower energy cost. so at some point the drop-off in oil will be a real positive for consumers and businesses in particular the airline sector, the cruise sector, the sectors that are getting their head taken off from them. at this point we're in the middle of it and looking at a reaction to a situation in the oil markets. also don't underestimate the reaction to interest rates. the 10-year rate falling below 5/10 percent. record historic numbers and what's tied to mortgages. at some point you'll see a refinancing boom where people will say i have to refinance. look at 10-year, 4.8%. that's a huge op

if you look at the laggards, exxonmobil, boeing, jpmorgan chase, united technologies.particular shout-out for boeing. we just know that travel stocks are getting so pressured, whether it's hotel chains, whether it's other airlines, and that of course is particularly the airlines feeding into boeing, not surprisingly. jpmorgan chase basically asking thousands of employees to work from home. investors are showing fear. the bigger fear, of course, is the potential disruption to the global economy so if you look at the broader markets, economically sensitive groups, financial, energy, industrial, these are the groups getting hit the hardest. california, we know, declaring a state of emergency after a coronavirus related death, 53 confirmed cases in the state. but countries, companies, extending quarantines, issuing travel restrictions. there is a very long list. i wanted to focus on the tech sector, though. amazon, facebook, asking seattle employees to work from home and then south by southwest, you know this event, it's a big see and be seen networking for tech, music eve

. >> coca-cola >> what about dividend paying stocks what is exxonmobil's dividend?d, you're doing oil and gas and in the esg world >> i am, 6.8%. >> well, yes but so what? >> so 6.8 times the ten-year yield. >> there's chevron, has much better coverage. >> right >> and chevron's got better growth, got better balance sheet and yields five. you could buy it but then you're a pa ryia. you have to hope robin hood stays town >> would you buy chipotle on wells going to 1,000 for may 68? did you read this one. >> i love chipotle why recommend a food stock you might get a better chance to buy lower. remember, you have to go and be with other people when you buy they have great takeout, great delivery they make money. >> by the way, what else, nomura ups home depot >> mat tell has a $16 price target i met with management. hasbro has fallen down on the job switching to little theat c theatrics. chipotle talked about how much money they make on delivery to homes so that call may not be so bad. that is the stock up the most in the s&p so why would you go after that >> an invest

you saw exxonmobil raise 8.5 billion, pepsi raise 6.5 billion.xxon did it ten years at 240 basis points over the corresponding treasury boeing can't do that boeing cannot raise money right now in the investment grade market to your point, jim, boeing needs the u.s. government to come to its support or indicate some sort of support before it will be in position to go out and raise the money it needs that points to where things are right now. it is interesting to note those companies at least, exxon, verizon, pepsi were able to raise significant amounts of money. again, many companies can't. high yield is closed right now the average yield is 10% you can imagine it's trading at 940 basis points over. and there's no issuance going on there now. credit is certainly a focus. and it will be from here in terms of companies able to raise additional funds for what they know is going to be potentially weeks and months of tumult >> yeah. carl, i think that we need to think bigger we put a price tag, 1.2 trillion here's the price tag, it's whatever it takes

exxonmobil knew, they lied. in fact, i think they should be held criminally accountable. this is an issue of enormous consequence. what joe was saying goes nowhere near enough. it's not a question of money. give me a minute here. we have time to talk about this. this is a world shaking event. jake: i understand. i just want to give him a chance to respond and then we can come back to you. mr. biden: number one, no more subsidies for fossil fuel industry. no more drilling on federal lands. no more drilling, including offshore. no ability for the oil industry to continue to drill, period, ends, number one. if you violate the commitment you make, you will make -- pay a price for it. obviously the paris accord is useful. if you are laughing, you are missing the point. this is an existential crisis. frackingabout stopping as soon as we possibly can. i'm talking about telling the fossil fuel industry that they are going to stop destroying this planet. i'm not sure it your proposal does that. i'm talking about speaking to china, russia, countries all over the world and in this m

. >> what is the dividend yield going to be on exxonmobil this morning if it opens at $40 >> it will look like bp does, unacceptable one thing i would -- i want to point out, we can sit here and talk about oil or we can talk about kits and fiscal stimulus we need confidence is what i'm saying there's no confidence in oil obviously. you can easily turn this into something that's positive for 316 million people in the country. >> understood. but the financial markets this morning are reacting a lot more to this plunge in oil prices >> i think then let's put it this way, i think it could be a twin today it's oil tomorrow it's -- we're a cruise ship and then travel and leisure. >> sure. you're talking about milan, 16 million people on lockdown >> i'm sure the president probably dismisses that as someone who goes to milan quite frequently, that's a big company. i don't know how monte dei paschi, the oldest bank in the world, it seems ill-advised to keep money there they do have an fdic in italy. they cap it. they have an fdic over there >> a large economy with a significant outstanding am

i never thought i would see this taking exxonmobil from hold to sell, this is a company not set up for the lower oil prices. those of us who know exxon from the days of rex tillerson would find this unbelievable that we have to focus on exxon as a company to worry about they need oil higher than 30 they don't have it i think that oil could go to 20. so i'm saying when you see a company as fine as exxon being downgraded to sell, you have to be careful of that group a lot of that group has very high yields. i think a lot of people are looking for yield. i'm urging you to look for yield away from oil. do not trust the oil do not buy them. >> i wanted to ask you, jim, about the saudis today aramco's ceo assessing, as we know by now, their ability to raise capacity to 13 million barrels a day. we can sustain low prices for a long time. do they sense vulnerability? >> yes, they do. look, they're not our friends. the russians are not our friends. it's every person for itself in the oil business and i'm looking at these thinking these are very, very fine companies there are a lot of people try

one of our guests, you look at exxonmobile, they are not going away but is there a chance that we seecut in energy space? >> we may see that, maria, certainly in the short-term as firms manage their businesses during this -- during this period of time, however, in terms of the long-term, we continue to believe that companies will -- will react and adjust and modify their way of doing business and ultimately betting against and there's a number of quotes from famous investors over time, betting against the u.s. is usually is a bad bet. maria: i would agree with you. tom, thank you very much for your insights. tom naratil. canada shutting down borders this as european commission is planning to ban all nonessential travel throughout its free travel zone. joining us fox news senior strategic analyst retired four star general jack keane, general, good to see you. >> good morning, maria. maria: you want to bet on america, i mean, i was thinking about 911 and the days after 911 when we were all down and out and we knew that we were down but we knew that we would come back, we wanted to rise

exxonmobil knew. they lied. in fact, i think they should be held criminally accountable. this, jake, is an issue of enormous consequence. what joe was saying goes nowhere near enough. it's not a question of money. give me a minute here, we have time to talk about this. this is a world-shaking event. >> i understand, i just want to give him a chance to respond. we're staying on this issue. >> number one, no more subsidies for the fossil fuel industry. no more drilling on federal lands. no more drill, including offshore. no ability for the oil industry to continue to drill, period. ends. number one. number two, we're in a situation as well where we cannot -- we are able to move rapidly to change the dynamic in terms of what we can do to set in motion -- the fact that he says climate change, paris accord, doesn't mean much. we could get everything exactly right, we're 15% of the problem. 85% of the problem is over there. we need someone who can deal internationally. we need someone who can bring the world together again. we need someone who can move in a direction that in fa

i think when you look at the oil companies, exxonmobil is not going away. give me a break. they have a huge dividend. they are down 30% in a week. by the way. there are real opportunities throughout this market. but people need a little more clarity and confidence to stick their toe in the water. >> sandra: the president making it very clear, he's not talking about a recession. he's talking about painful economic times and focusing on keeping people healthy and mitigating the spread of this disease. but he said let me be clear. when things come back, they will come back and a big way. >> we are not thinking in terms of recession. we are thinking in terms of the virus. there is a tremendous pent-up demand both in terms of the stock market and in the economy. and once this goes goes away, once it goes through, when we are done with that, i think you're going to see a tremendous search. >> sandra: as you know, with markets and investing, timing is everything, and it is anybody's guess when that moment will come. >> we are looking at significant headwinds. we will see a decline

the idea that exxonmobil, which never cut its dividend through the exxon valdez problem, is right nowlding close to 7%. people are not going to be able to buy these levels in the near future. exxon and simon are my two names for you right now. stuart: thank you very much, david. got to refer back to the market, give you an update on where we stand. we are almost two hours into this friday morning trading session. i would again remind everybody it's friday. if you are a big-time trader, you might be reluctant to own stock over the weekend because you are not sure exactly what's going to greet you come monday morning. all kinds of announcements and developments take place over a weekend. that could hit the market, hurt the market. you don't know what's coming. so a lot of people will withdraw. i would not expect this market to close higher today. i would be very surprised if it did. i have no idea how far down it's going to close this afternoon but just bear in mind it's a friday. we are down, what, 2% plus on the dow, 2% -- 2.5% the nasdaq, 2.4% on the s&p. can you show me again that t