i'm not going to try to say, hey, we can get into exxonmobil and it is exg, at least not yet. it is a bridge too far for the people who are again fossil fuels. >> it wasn't a bridge too far for jeffrey upton who is now going on the board not a bridge too far for him >> i applaud himor that. >> he left and started his esg fund - >> yeah, but let's not say that exxonmobil is anything other than the fossil fuel company it isn't it is oil and gas. maybe teyears from now it will be by the way, if ten years from now it isn't something other than fossil fuelit is going to cease to be because this is a demand issue what joe was saying about supply is interesting, but demand is far more important this year demand is going up, but over t next ten years demand for fossil fus is going down, down, down there's no question out it you can look -- by theay, exxonmobil put up a ten-year chart and you can e from the high in 2014 of 100 it is a straight line negative to where we are today we were bew that trend line last year. we will go above it, but there's in exxonmobil's share price isne gog

you're welcome ahead, calstrs ceo chris ailman with our conversation and the issues at exxonmobil and the board seats. >>> let's follow-up ton somethig that we talked about yesterday which is so important that it triggered a number of people the news story of bts is generating huge mcdonald's mcnugget sales ranch dressing was a great dipping sauce option apparently, many of you think i'm a heathen we put out the best nugget dip why not? 5:30 in the morning. apparently i failed you once again. i gave the options as barbecue and honey mustard and other. it was unacceptable to you sweet. mcdonald's tweeted at us saying really doing sweet and sour dirty here. huh? our colleagues scott cohn replied sweet and sour end of discussion. who knew the best news of all, being able to do something fun like this means we are definitely coming out of the worst pandemic. can you imagine doing that a year ago no way it was all bad news. now we can have fun in the middle of the serious news can we all at least agree on that it's rch dssg.anrein we're back right after this. sru. which is why t-mobile for

snacking another seat on exxonmobil's board as it extend its efforts to shake up the giant. >>> and chamath's new rollout of not one, not two, but four new blank check companies. all with a new focus it is thursday, june 3rd and this is "worldwide exchange. >>> good morning, good afternoon or good evening. welcome from wherever in the world you are watching i'm brian sullivan good thursday morning. here is how your money is setting up their day futures are not doing a lot. we'll call them slightly down. dow futures off 38 points. i mean, 0.1 of 1%. very different story for oil and oil stocks crude continues to rise. jumping to more than a two-year high opec managing supply no new spending and demand starting to soar crude oil in america is trading at under $69 a barrel. brent crude over $71 oil stocks are booming as well as oil etf look at elp and xle and oih. jumping 8% yesterday they are all up again this morning. many of the oil names, individual stocks, have nearly doubled this year. some more than doubling. ones that were beaten up the most, getting a nice bid huge move for oil stocks. >

exxonmobil, absolutely breaking out. let's not forget in 2020 they added on the board as the lead director, ken frazier, he will transition that company to where it needs to go in terms of renewables so i believe energy is the sector that is leading us here in 2021. to steph's point, it is cyclically oriented and it is about mobility, scott. it is the clear proxy for mobility it continues to work higher. >> so, cramer, you have been as critical of fossil fuel stocks as anybody in recent months, that no one wants to own them. now, you may make exceptions in the group, and chevron today gets reiterated with an overweight the stock sits $5 off of its high are you comfortable with telling people, okay, you can buy these stocks >> absolutely. there's two that i like. i like scott sheffield at pioneer and i like mike worth at chevron. why do i mention that? because these two gentlemen, i have said that oil was uninvestable these people heard the call. they heard the call. they realize, you know what? we have to start changing.

use both your eyes here, one on the dow, one on exxonmobil.xon is preparing to reduce u.s. white-collar ranks by as much as 10% for the next three to five years according to people familiar with the matter. the oil major will use a performance evaluation system to weed out low performers. what company doesn't do that now? i would just like to say you have got exxonmobil powering higher by 3.6%. the dow is now back up above 600 points the dow jumping 603 points, the high of the session. the high is 618. high of the session up 59 for the s&p and we're up 58.4 at the moment. we've got action here. two minutes left. bitcoin sliding into the close as china's mission to cush cryptocurrency trading intensified. our "countdown" closer said not just crypto you need to be watching, companies to invest, allow crypto currencies to be part of their business. wolfgang kester. what names are you talking about here that you say stay away from? >> micro strategy is one. watch how they handle tesla. the number one absolutely is microstrategy. they own at these

the retail crowd continue to support them elsewhere, activists are having a big say over at exxonmobilene has a third board seat after securing two on the back of a recent agm they're changing their approach to fossil fuel they may have their way with the backing of large institutional investors, the likes of blackrock ahas been a supporter of engine number one. >> that remines me of the gamestop saga that we all lived through. >> yeah. >>> the singing front line nurses wowing judges on meca g ten"ari'sotalt." >> 94-year-old proving it's never too late to chase your dreams booster downy unstopables pain doesn't care how old you are. or what color you are. pain doesn't care if you live in a small town or in the spotlight. pain has no limits. that means we need care without limits. care like a parent with a newborn. care like we took an oath. care that's strong, fast and safe. that's care without limits. ♪ ♪ care that's strong, fast and safe. ♪ ♪ ♪♪ mix up a treat and a little fun with kellogg's rice krispies. did you know that your toughest cleaning problems can be caused by hard water m

victoria's secret is borrowing $500 million to pay for its split from bath & body works >>> exxonmobiler bloomberg report that it is planning to cut 5% to 10% of its office staff every year for the next three-to-five years the oil giant is telling us the report is false and misleading and going through the annual assessments which are entirely unrelated to work force reductions. >>> businesses are reportedly gearing up to fight the s.e.c.'s growing push for public companies to disclose more information about how they respond to threats linked to climate change according to "the wall street journal" energy companies are easily measured. we are back in a moment. dow futures off 33 stay tuned at cdw, we get these signatures here, here and here. adobe sign orchestrated by cdw, automates esigining across devices to bring organizations together. protected by industry leading security sign integrates what the tools are already using so you can grab signatures across organizations and even time zones to save you money, materials and mileage. making it easy to sign here from anywhere so you can

i can tell you one thing we have at exxonmobil, which is kind of surprising, a diverse board. we have two african-americans, five women -- four women, five with me. so it's a diverse board, which is very, very good and we know that to get change, to have it in a company or anywhere, you have to start close to home and at the top so you can't -- you literally have to start at the top you have to have a board that's diverse. you have to then go to the c suite and the whole suite of important leaders in the company. you have to diversify that and then the rest of it comes out in the wash, right it comes out in day-to-day operations in the company. exxonmobil and uber quite honestly are the two boards that i'm sitting on, are very, very progressive in that sense. there is lots of work to be done in both of these companies, but they are making the right moves, at least at the board level from a diversity perspective and that's the first step in change. >> and climate too for exxon now. ursula, thank you very much. i hope -- i hope a lot of your fellow executives were listening, the

like amazon and apple, and a lot of the mega cap stocks but lately they've been adding ford and exxonmobilf the meme stocks, though, they've been looking at them and watching anxiety rise among the readers. we measure that in the investopedia anxiety index which measures their terms, with terms like naked shorting, short selling and with the meme stocks, anxiety has been rising among the readership in the past few weeks. at a three-month high, nothing like back in march, but it's bubbling up as at meme stocks go on the rise. >> caleb, we're seeing a rise in top-spiking articles over the past week, a 7,000% increase in naked shortage and 25% of them -- by the way, can we show the chart that we showed with the anxiety index. it's creeps up but it's nowhere near the levels we saw earlier this year when the meme stock frenzy was going kind of crazy, with regard to what's happening now. is that maybe an indication that perhaps things can still go higher despite the anxiety that you're citing right now? >> absolutely, we saw anxiety in april, may, june of last year when the markets were recoveri

first black woman to become ceo of a fortune 500 company currently serves on the boards of uber and exxonmobilortage of candidates female, people of color or both is small-minded >> the specifications are biased the specifications are biased. not that people are incapable. some people are. but this is not what we're talking about here expected in such a way that only five people or ten people could possible fit the specification and every one of those guys are boarded up some of them are getting too old to serve >>> general motors is reportedly set to ramp up its spending globally on electric and autonomous vehicles according to reuters. the automaker will spend $35 billion through 2025 that's a 30% increase from its most recent forecast the report says as part of the plan, gm will build two additional battery plants. >>> and an antibody treatment plant from regeneron shows significantly cut covid patients, with 10 patients showed using the treatment along with the usual care for the virus cut the risk for dying by one-fifth among hospitaled patients who haven't produced the antibody due to th

earlier this month, engine number one came out of nowhere and won three exxonmobil board seats.on needs to reduce emissions and move toward a clean er energ transmission you van etf that buys shares in companies you're going to use in upcoming proxy fights. what is your next target, and what are you going to be seeking to accomplish next >> bob, thank you. so we just won this landmark on exxon and there's a lot of work ahead on this one. and for now we're very focused on engine number one's vote etf. we started engine no. 1 thinking capitalism has gotten too short term and we're going to work and help investors be activists and active owners in companies and help companies understand how their impacts relate to their long-term financial value. so what's ahead for us right now is working with anybody from biggest institutional investors in the world to millennials and personal investors on the vote etf where we'll be very active on voting shares in all these companies and working with them to help them take impacts they have today and see how they can manage their businesses towa

when a group of climate insurgents want to proxy fight against exxonmobil they got religion on climate change that has been good for the stock because less drilling translates into higher oil prices with crude down a oil, everything the oil just got obliterated. exxon i exxon no longer in the dow, chevron down 3%. so chevron first negative. second, the boeing saga. the federal aviation administration is taking a hard line with boeing to say the least. i was excited about the possibility for the united continental order to be announced. then i discovered that the 777 model has issues i thought that was okay? now the company is adamant there is no need to worry about the push backed timeline i think this is more about the tenor or the terror. the faa must despise these guys. after all the recent safety issues can you blame them? the industrials need boeing. it's too important to the group. new that the aerospace kingpin has two strikes against it, another project in trouble and no china orders in sight, they will strike a giant equity offering if you like boeing, please keep your pall po

amex there's a surprise, exxonmobil, energy stocks have been great outperformers. earnings, tale of two different companies. nike 80% above what the estimates were on the earnings report, just a knockout number that's a new line. but fedex in line. they didn't beat the numbers all these companies have been beating the numbers. that's not good enough there's these whisper numbers that were higher fedex there nothing wrong with the report but disappointing to investors. fortunately, fedex is a bit of an outlier they all had great numbers recently, so the earnings season is starting soon and the early reporters have been outstanding. infrastructure stocks moving big this week. a lot of cynicism about this infrastructure deal. $579 billion in new spending that's a lot of money and it's moving the dial on infrastructure stocks. they only spend about $300 billion a year on infrastructure in the united states the markets seeing that. look at the stocks moving this week cranes and work platforms, equipment rental companies like united rental and deere was up look at these

. >>> bank of america putting it chips on a dividend hike by exxonmobil as cost-cutting measures areon mobile up 3.5% today. but big oil not the only way to play the climb, today's countdown closer's top picks to hit pay dirt on black gold. the closing bell ringing in just about seven and a half minutes, and we are coming right back. ♪ ♪ . . living with insulin requiring type 1 or 2 diabetes? how does no daily insulin injections sound? omnipod delivers insulin through a tubeless, waterproof pod. and the best part.. no more daily injections! plus, omnipod is covered by most medicare part d plans. get started with a benefits check today. go to omnipod.com for risk information, and instructions for use. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod. do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplemen

exxonmobil up 53% year-to-date. schlumberger up 46%. let me get to jpmorgan.s for the auto sector, steve. what are those? >> we like gm and volkswagen. they are both very inexpensive stocks. all these stocks have had big pops and now big pullbacks, call them eight to 10%. we think they're all heading much higher. the auto stocks are good for the near term and they're both gm and volkswagen big ev plays. we think they have aways to run. liz: gm and volkswagen. all right. so you're not subscribing to the old, the beaten down ones from the first half because these are all up for certainly the first half. steve, we're glad to have you on this last day of the quarter. [closing bell rings] the last day of the month. the last trading day of the first half of 2021. five straight closes for the s&p at record highs. the dow closes near session highs. that will do it for the claman "countdown." "kudlow" is next. larry: hello, everyone, and welcome to "kudlow." america the great. i'm larry kudlow. we're celebrating july 4th through the lens of the declaration of independe

we saw what happened with engine no. 1 and exxonmobil, people who maybe thought they wouldn't touch fossil fuel stocks anymore maybe are having a second look because they think the new frontier is actually underway >> yeah, i don't -- i don't know if i fully agree with that i would rather be in transmission of energy assets than i would exploration i think oil field services can certainly work as we normalize demand for energy, but like the idea of this being a secular growth industry ever again is very hard for me to picture. i don't think it is so great that all of these activists are winning seats on the boards of these companies because what we know is that they're not economic actors. they're actually going to force these companies into less profitable behaviors on behalf of the environment and the things that they look at as more important than - >> unless perhaps -- sorry to interrupt you. it is short-term pain for long-term gain, right? they may force that in the near term, but the reason they're doing it is so they can better outperform in the long term in a changing world >> yeah

i would rather be in an individual stock whether or not exxonmobil hit is not really the case.is xle. when people are buying huge calls in something like the xle, when you look at 40% of that representation is either chevron or exxon with that 40% level, i move over and i do trades that are oftentimes over in something like exxon that's what i did here, and they're fairly short term, one month out. >> ah. >> just above where the stock is right now. >> oh, good stuff. appreciate it. i hope i didn't put you on the spot there >> sure. >> thanks for handling that. >> not at all >> all right coca-cola is the other call of the day i want to talk about because it did get another call today, and that is a reiterating of outperform at credit suisse i had it up and then i lost it there it is. steph and pink both own coca-cola. the link esther, you go first. >> yeah, it has been a miserable investment it is flat year-to-date. it lagged all last year because 50% of its business is on prepare. it is a reopen name. that's why i like it while we wait for the reopen you get a 3% yield which is

. >> >> exxonmobil is what i'm going to kick it off with, scott xom. why? opec decision today. they're going to slowly start bringing back some production, scott. and the oil market is up about 30% this year. brent crude, in fact, was over 71 earlier this morning. so exxon, we notice a big buyer of july, 65 calls. that's with the stock right around $60 i'm going to buy the at-the-money 60 call, scott, and start lacing in higher strikes against that, probably be in the trade about five weeks second trade, take a look at what is going on in smh, the semi conductor index that one, june $255 calls actively traded, 10,500 of those with that index about 250.55 i will likely be in that trade about two weeks because it is june instead of the other being july but i like the moves in both these are big in the case of exxon, a massive stock in the case of semiconductor, who has more pricing power than these guys like them both >> dr. j, thank you. >>> zoom and docusign reporting earnings this week two pandemic plays, struggling so far this year we will find out how tp

of course exxonmobil and the oil stocks are the highest stocks right now. do you sort of say okay, we know things will happen in the future, but right now, the here and now i want to make money in the market, do you chase the oil breakout? do you position yourself for a trillion dollar infrastructure deal, even if only 300 billion is spent this year? >> i think the pro-cyclical trade is proving out and it speaks to the vaccine rollout. the vaccine rollout is largely a success. americans want to return to pre-pandemic levels. they want to see it in the activity. you saw it in the lax numbers in the weekend. highest in terms of internationally of travel. america is going back to, doing what they. do best but to some of the points made on this program at some point in time there will be an inflection point and we'll have to deal with some of these commodity prices. the fed is telling us what we're seeing is transitory. american don't need the ism numbers today to tell them what they're paying at the pump, the grocery store, everything they consume is moving hi

finally, harold, haven't had a chance to speak to you since exxonmobil they made it official today.fund, essentially, running a proxy fight, specifically on their not moving fast enough to transition to a carbon-neutral world, so to to speak. it was one of the long-time veterans of this industry, i'm curious, what did you think of that when you heard it >> well, it's something that is interesting. first of all, one of those seats went to a long-time -- you know, that actually had run a refining company. so that was interesting, who they put on there once they got those seats. certainly our company had been involved in the group, all the 50 years we have been in business so we're very, very much involved, particularly in the social aspect, bringing energy to everybody in the world that needs it there is a billion people that still need electricity another billion that's underserved. so we see that demand in the world is still there and, yeah, it was somewhat shocking when we saw the refiners that had -- the people moving in on them like that. >> yeah. yeah it certain wly is. apprecia

even exxonmobil. but there are other parts of the fossil fuel industry like, no, you stick with us. stick with fossil fuel. don't allow them to do this electricfication stuff. don't talk about climate change. carbon pollution doesn't do anything. no. none of that's true. and we have to deal with it. it offers opportunities to communities of all sizes. 50% increase for rural transit, $37 billion from surface transportation programs suballocated to local communities, not the biggest cities. we create several new multimode al discretionary grant -- multimodal discretionary grant programs. first time in a decade we provided bipartisan member-dess pace ined -- member-designated projects. 109 republicans applied for projects. everyone was offered $20 million under very strict guidelines agreed to by the majority and the minority. we've cleaned up that -- cleaned all that up. some people are saying, this is bad, it's pork. no. does the federal d.o.t.t. or your state d.o.t. know you what need most in your district, what your city and county needs? you know better. but sometimes they just ig

. >> exxonmobil is right at a 52-week high. >> that's no longer. >> more than a double. >> with the low and by the way, we talk about it a lot, but it was potentially a seminal moment >> three directors i think they will make it official i think as soon as tomorrow. >> those people are against fossil fuels exxon, as we know from the great book about rockefeller, that was actually founded on the concept of fossil fuels. >> yes, it was. >> and then it stayed that way >> pennsylvania. >> pennsylvania, the original -- >> exactly right oil city >> wow >> you're on your game today. >> oh, yeah, baby. >> this is a great look. >> exxon is an oil company with a board that looks like greenpeace >> that is overstating it. >> i think so. i think you went a little far there. just a teeny bit. >> there is a group that wouldn't have liked the exxon valdez. >> it is fascinating to watch the trass transition of the company and what darren woods' decision is, and does he quicken things by the way there is a strong school of thought out there that says this does not mean that any esg ballot initiative tha

was only a couple of years ago that i don't think anybody would have imagined doing this to an exxonmobil, maybe another energy company, but i also think it kind of speaks to david, the fact that you are in general, seeing this bigger fundamental shift among energy companies, at least u.s. energy companies, to be more focused on the financials, more focused on cash flow, being profitable, et cetera, and we heard about that from pioneer and natural resources a couple of weeks ago and the shift to cleaner greener energy and reinventing itself in the midst of what is expected to be, how long, up for debate but the shift to new sources of energy and new sources of fuel it's just again, it is fascinating to see that exxon would be in this position. >> amazing, with the shareholder-owned 0.2% virtually nothing. 40 million bucks, obviously did have support, significant support from calsteres and the like and the next part of the story is what the response will be from darren woods and he joined us in the recent weeks talking about what he is changing at the company and the track that they are go

america, shell u.s., equinor u.s.a., exxonmobil, jona industry, pioneer natural resources, e.q.t. association, natural gas association of america, d.t.e. energy, occidental petroleum. devin energy, edison electric institute, which is a consortium of groups, center for liquefied natural gas, austin energy, pacific energy company, tinaka, inc .and they have submitted comments and it's in support of s.j.res. 14 and the rollback of the trump administration's egregious rule. so when my colleagues on the other side say this is going to hurt oil and gas, the very companies they are talking about support this because the trump administration's rule was so extreme and egregious. and mr. speaker, i would ask unanimous consent to insert into the record a summary of the companies in support of this legislation from these companies, a letter from b.p., a letter from occidental and a letter from equinar. the speaker pro tempore: without objection. ms. degette: i thank the speaker. i will say if we don't act now and if we let this rule stand, it's going to increase methane emissions in this coun

also, exxonmobil is denying a bloomberg report that they plan to cut the workforce by 10% annually foris not related to reductions. however, reuters reports that the evaluations will assign 5% to 10% of workers to performance improvement. plans that can lead to force the departured >> and delta airlines is pl planning to hire 1,000 new pilots it should return to profit the second half of the year. leisure travel has returned to pre-pandemic levels and more business travelers are coming back as well >> in other headlines, the european commission is opening a new investigation in google's advertise unit the eu's executive arm will probe whether the tech giant is breaking antitrust rules f and we're watching shares of gamestop this morning too. the company announcing that it completed the sale of five million shares in doing so, it raised over $1.1 billion of course, you probably remember it announced the intention to sell the shares back on june 9th. the stock is up by 6% right now. andrew >> fed chairman jay powell plans to testify before congress on the central bank's response to the p

exxonmobil up 2.25%. they are benefiting from the higher oil prices.e oil company. ceo of morgan stanley, lauren, james gorman, he is telling the new york staff when he expects them to return. when does he expect them to return around what else is he saying to the employees. lauren: it is by labor day. let's listen. >> if you can go to a restaurant in new york city you can come in the office. if you want to get paid new york rates, work in new york. by labor day i will be very disappointed if people are not not office and we'll not have a very good conversation. lauren: not good news for those from the low-taxed states like florida. no mandate you have to head into the office but the message is getting louder by the day. morgan stanley is doing two things, they are working to find away to vaccinate workers at the office and james gorman said look, real training especially for the junior staff that happens in person. that doesn't happen on zoom. his message is the message from a lot of companies right now. they are keeping real estate. they want you bac

knowing the electric vehicle world's on the horizon looking out over the next ten years and also the exxonmobilhere you've got activists going after their board construction because they're not getting returns from conventional fuels, they're not drilling as much. you've got a supply/demand imbalance that was driving the price of oil higher. we've already gone from 35 to 70 over the last year, and we think we're going to go to 90 over the course of the next year before supply and demand comes into balance. and in terms of gasoline prices, that's going to start to take a chunk out of the ability of consumers and businesses to have disposable cash. while it's not going to impact the economy today, it could very well impact the economy a year from now. in fact, our gdp estimate for next year at 4.2% is a lot less than our estimate for this year which is at 6.8%. maria: is all of this -- to the market, phil? because your writing in your report as investors watch all of the stimulus as well that $1.9 trillion that passed in march was certainly the beginning of it under the biden administration. but

sick to death of big special interest money that hides behind fake front groups so that it's not exxonmobil or marathon petroleum that comes to rhode island and says sheldon whitehouse is a bum, you should vote against him. it's a phony group with a name like rhode islanders for peace and puppies and prosperity, and all there are is a mail drop. somebody's behind them, and the voters know in rhode island there is no rhode islanders for peace and puppies and prosperity. they know they are being had. and they are sick of seeing the ads. and it's not fair to them as citizens to not know what's going on in the american governmental process going on right in front of them. and it matters to them. it really matters to them. it's the single most important issue for 55% of all voters. and among the independent voters we are trying to attract to our separate parties, 58% of independent voters, this question of big money corruption and government not listening to them, the single most important issue. the single most important issue. now, make it top three, expand the question. what are the top three

exxonmobil didn't write down $20 billion because they're woke. they wrote down $20 billion because the free market is beating them. investors want to know how to reallocate their capital in response to that risk. they want to know how to allocate to it more productive uses. that's why there were over 140 climate related share hold brother posals in the 2020 proxy season but we in this body haven't done our job to protect those investors. let us be clear. when we talk about investor protection, every company in the world -- every country in the world would like a symmetry of information. our job is to make sure if you love free markets as much as i do, as much as those of us on this side of the aisle do, you have to make sure they have full transparency of information. right now public companies have no obligation to diskilo -- disclose their exposure so to climate-related risk. this rowl would require every company to disclose its oil and fossil fuel holdings, how it will be affected if they continue at the current pace, thousand hale -- how they