jackie deangelis looks at sentiment in the market for 2015 and the possible wild card that's emerging in that sector. >> reporter: crude oil took a wild ride in 2014 down nearly 50% on the year a plunge no one saw coming. >> it took me a little bit by surprise but once we broke key levels on monthly charts. you saw that room down below and knowing what happened in the past you did see it coming after it broke those levels. >> reporter: the reason? u.s. shale production boomed with domestic oil production with 9 million barrels a day closing in on saudi arabia the world's largest oil exporter. but the demand wasn't there. weakness in china, japan, and the euro zone took a surprise with the backdrop of rising supply the market got crushed. so what does the future hold for crude prices? if opec stands firm and cr production u.s. shale producers have to. the question is how low do we go before that happens? >> i think first half of the year is much the same. maybe not as much of a violent selloff as you've seen in the past but it's still looks very bearish and i don't see there being any

for "nightly business report," i'm jackie deangelis. >>> greece where the country prepares to vote in a general election sunday voters won't just choose a new government. they could chart a new and very un indebted country. michelle caruso-cabrera reports now from athens greece. >> reporter: this man, self-described radical leftist, said to be the next president of greece. polls for the sunday's election show him in the lead by ever widening margin. promised to undo many of the painful austerity measures put in place many greece in the last five years, things like govern job cuts lower wages and higher taxes. all enacted in exchange for billions of dollars of bailout loans. he and his party refer to it as financial water boarding. ya niece is one of the economic advisors. >> our plan is to renegotiate, to deliberate with our partners. in order to render our relationship with europe and with acp to reconstruct the logic of the bailout agreement. >> reporter: if he wins as promises an international showdown between greece and lenders. the european union, the imf and european central ban

for "nightly business report," i'm jackie deangelis. >>> and now to economic news overseas and a shocker from denmark. the danish national bank will stop selling government bonds until further notice in order to keep its currency, the crono, with the euro and it comes one day after the central bank cut its interest rate for the third time in nearly two weeks. >>> and in greece more uncertainty after the latest sections from newly elected far left prime minister. greece now says it will not cooperate with its european bailout partners including the european union and the international monetary fund. the government has fired the heads of its state private agency after stopping the sale of all government owned assets >>> and the problems may only deepen in russia after its central bank made a surprise cut in its main interest rate to 15% just after hiking to 17%. can anything save russia's floundering economy? geoff cutmore has the latest from moscow. >> reporter: this is an economy that's under siege. the apparent very high interest rates, a continuation of western sanctions, the falling o

jackie deangelis explains. >> reporter: the crude crash continues with no end in sight. prices on both sides of the atlantic now under $50 a barrel. while cheap crude means consumers could save 50$50 billion to $75 billion on gas, how low is too low? the drag outweighs the pickup for the consumer spending. >> we're in the beginning part of the price zone right now that hurts production in a big way and starts to reverberate through the economy, the manufacturing economy especially. it will be particularly painful if we do break the $40 level and if we break the $33 level, my low price target and we go down into the 20s, then it's going to be a real bleak situation. >> reporter: production is just one risk if oil falls too low. the ripple effect is pulling back on hiring and laying off workers. in theory 1.58 million jobs could be at stake if crude collapses to $20 or lower. there's also a global impact. lower oil prices don't just hurt the u.s. they could hurt canada russia venezuela and brazil to name a few. the fallout from this could trigger a global financial crisis.

let's get to jackie deangelis. >> closing just moments ago down $2 on the day roughly around $48. we hit a session low of $47.56. although we went under 50 we didn't hold it at the close. meantime they are at $51.24 right now. saying brent breaks $50 and gets the four handle it is significant because it indicates that in some time we can see wti in the 30s. some analysts have been changing the forecast and saying that can happen. a couple of reasons for the selling pressure today late comments coming out from saudi arabia's crown prince talking about standing firm on oil prices and blaming the problem with pricing on weak global demand. a lot of traders saying it seems they are out of touch here. steve liesman would tell you don't fight the feds. speaking of production we are going to get a report from the department of energy on inventories. traders are looking for a build. the supply demand imbalance continues to grow. that is what is forcing prices lower at this time. back to you. >> jackie deangelis thank you very much. >>> this tax season is going to be a lot more complicated

i'm jackie deangelis from the nymex.tment of energy out with its weekly natural gas storage report. a withdrawal of 131 billion cubic feet. more than traders were expecting. yet less than the five-year average. prices popped about three cents. we are still under $3. this is very significant. 30% lower on nat gas prices in the last year. 20% lower in the last month. a lot of people asking why we are seeing such declines when we've got the coldest week of the winter coming up. also the fact we are in the winter season. it comes down to the pipelines. utility companies getting gas where it needs to go. getting it out of the ground more efficiently. people wondering why they are not seeing this reflected in their bills, per se. that's because of the overhead costs of the utility companies and the fact they bought their nat gas probably at higher prices in the spot market. it takes a while to trickle down to consumers. >> thank you, jackie. let's talk more about the impact of energy and today's stellar rally. art cashin joins

thank you very much for that, jackie deangelis. and we should note as we went into our show, we weren't at triple digit losses for the show, now we are. we also saw the dow dropping as well. the dow is current down by about 112 points. as for the s&p, we're down about 1% there. i think it's important to note that we hit the record high for the s&p on december the 29th. and yes, the last two weeks have been negative for the s&p, but since then, still it's only down about 3% from its record highs. i wanted to keep that in perspective. >> and there are two stocks in the s&p 500 that are up more than 10% this year, without a deal. in other words, they weren't bought. boston scientific and merck. >> there you go. >> you're welcome, america. >> plenty of opportunities. talking of which, we'll do that for you right now. "street talk." today we have all upgrades. five stocks that analysts think their clients or maybe you should think about buying. first, chesapeake. >> goldman sachs calling chesapeake its preferred shale sale winner. say t

jackie deangelis at the nymex. >> hi, carl.t i want to point out this morning that the spread between wti and brent is really tightening here and what's interesting about this is we haven't seen a reversal like this since july 19th of 2013 when it reversed about ten minutes. the last time it traded and stayed over significantly was in july of 2010. it tells us that brent is falling out of favor when compared to wti, that the economies of europe and asia are slowing and demand falling off there. if we flip, traders say it shows us wti becomes the global benchmark. this could be intensified if we see exports from the united states as well. >> that one-year chart never gets less stunning no matter how many times we show it. appreciate your reporting this morning, jackie deangelis at the nymex. >>> huge round of funding announced for instacart, a start-up that delivers groceries from retailers like whole foods and costco. led by kleiner perkins and comcast ventures part of nbc universal's parent company also part pated in the round

jackie deangelis is at the nymex with more. >> good morning, kayla. that's right.y remarkable selling pressure here in the pits this morning. traders are telling me if we see a close under 50 this is a key psychological level. it would be paramount. what's adding pressure to the market. the strengthening of the dollar, dollar index over 91, projected to go to 100, is definitely going continue to add pressure to crude prices. it's the supply demand balance. fresh worries over what's happening in the eurozone with greece is leading people to believe that demand just will not be there in 2015 at the same time, we have more data points out showing us that supply continues to ramp in russia, also in the middle east, and you've got opec standing firm. right now, the question is, who is going to blink first, how low do we have to go, how bad does the pressure have to get in terms of pricing to make somebody pull back on production and will it be the u.s. players? we've had some signals of it, but nothing too significant yet. you mentioned $40 range in terms of sort of put

for nightly business report i'm jackie deangelis. >>> still ahead, facebook blows past wall street's earnings estimates. there's something else that investors are focusing on. the key takeaway next. >>> facebook out with solid earnings after the closing bell many more daily and monthly active users. the social networking giant took in 54 cents a share, beating estimates by a full 6 cents. revenues of nearly $4 billion were also a slight beat. shares fluctuated between modest gains in light trading. julia bors ten's one takeaway from facebook. >> facebook mobile advertising accounting for 74% of facebook's income. 34%, 745 million people access facebook mobile every day. mobile ad dollars are following movers shifting to mobile. they're still shifting slowly. that's an area facebook plans to accelerate moving forward. the company has an average of 3 billion video views per day. that's up from just 1 billion in september. the mobile growth didn't help facebook stock which is way down on concerns of 87% increase and expenses in the quarter. for nightly business report i'm julia borsten

jackie deangelis reports on energy. bob pisani looks ahead at the stock market and first, steve liesman on his outlook for the economy. >> reporter: 2015 will be a year with big central banks around the world pulling in opposite directions. hopefully, their economies all going the same way, that is, up. the u.s. federal reserve looks likely to hike interest rates, the first rate hike in 9 years and look for it in the summer. the fed won't be aggressive about raising rates. the rates could end around 1% from the current level of 0%. look for the european central bank for a quantitative easing program to buy sovereign bonds. should help stabilize the euro zone's economy if not propel growth and japan should stay the course with wide open monetary policy. as for growth in the u.s. the positive effects of lower oil prices should offset the marginally negative effects of higher rates and then some. wage growth should finally come in what should be one of the biggest stories in 2015 wages should begin rising meaningfully and

jackie deangelis at the nymex. >> the department of energy out with its weekly inventory report.ive territory on wti but prices are moving lower in the sense that the gains on the day are dropping. that is because we got a crude oil draw of 3.1 million barrels. typically that would send prices higher. but it's the gasoline build of 8.1 million barrels that traders are really watching. the other thing to consider here is that before this report the eia was reporting that the five-year average were above that level by more than 12% and the stock situation. that means we're well supplied in crude oil inventoryies. that's not a new story. that's why the gasoline build of 8.1 million barrels is what traders are looking at now. we're only up 36 cents now. traders are selling crude on this report. back to you. >> thank you very much. >>> straight ahead on the program, crude oil has fallen now, nearly 40% in the past two months. the big oil stocks are seeing sizable declines now as that feeds through into the market particularly for integrated oil. what does the future hold for these sto

over to jackie deangelis with breaking news. >> simon, that's exactly right.whacked on the department of energy report on crude oil inventories. a build of 5.4 million barrels in crude. now traders estimates all over the map some saying we could see a draw today which would have been bullish p this is bearish. up 50 cents before the report. now switched into negative territory, 45.875 as i reported earlier, traders saying that most data points now are pointing to the downside in terms of crude price the world bank reducing economic growth forecast bearish. and downside objective looking at 2009 low of 33. but now at this point, traders are saying we could potentially go under that point before we bounce back up. right now crude prices 45.68. back to you. >> okay. thank you, jackie. carl? >> straight ahead -- if copper's seen as a barometer for the global economy, things not looking too good. prices falling to levels not seen since mid-2009. we'll talk to rbc's chief commodity strategist though oil's on the mend in a minute. oil prices down more than 50% in 6 m

jackie deangelis with the action of the nymex next. >>> a programming note by the way, our friends atoff the 20th year with a brand new home. just think of how much more hair joe started when they started the show 20 years ago. starting tomorrow, check out the new digs starting at 6:00 a.m. eastern time right here on cnbc. >>> welcome back. another big day of big losses in the oil market and now the saudi prince is blaming weak global growth. >> jackie deangelis has it for us at the nymex. >> good afternoon to you guys. that's right. talk about pricing. we did settle under $50. $47.93. another 4% clip to the down side after the action of yesterday. you mentioned the comments of the saudi crown prince. certainly having an impact on this market. in terms of the price action that we have been seeing that commenting and nobody wants to cut production including saudi arabia but traders taking this as a sign they're digging their heels in as they have been. they will not make a cut any time soon and that's what sent prices lower. but also a lot of traders saying sort of provides some contex

futures now host jackie deangelis has more. jackie? >> good afternoon, michele.s exactly right. this does seem like a broken record situation after we got a weaker than expected gdp print this morning. the dollar still rising today. jim, this dollar index rally, how long can it last, how high can we go? >> i don't know if it can go much higher than this. of the yen, the euro, the aussie and the canada, the fundamental negative stories are overwhelming an they have been that way for several months now. i have -- look back and say who's going to sell it now if you haven't sold it in the last few months. i'm not ready to start selling dollars but i will start to look for bottoming patterns in the currency to thinks the tide will turn. doesn't seem like there can be much more follow through. >> jeff kilburg, the dollar has an impact on commodities. is is going to take a turn around for commodities to go up against? >> a follow through to jim's point there, seems like this dollar, this move in the dollar, has bone crushed commodities from copper to crude oil. the way

jackie deangelis. where are trade he traders saying is the next stop 1234. >> definitely the four handle. if not today, within the next few days. of course a very key psychological mark. the selling pressure was intense even though off session lows right now. what is moving crude is the stronger dollar. traders are expects to continue to strength p throughout the year. but also that supply/demand balance that we've been watching so closely in terms of global supply, there is too much oil out there. again, you had saudi arabia saying they will cut them to the u.s., but nothing on production. and a lot of people worried about what is happening in the eurozone and worried that global growth could slow further. if that supply/demand balance goes out of whack even more, some traders are saying we could seat 30s like we did in 2009. now, you guys are always following gas prices, so i want to give you you an update. national average for a gavel regular, $2.20. just down 9 cents in the last week alone. this is

. >> jackie deangelis. >> good morning to you, carl.e rebounding after yesterday's roller coaster ride. trading at 47.62, up 90 cents and brent testing that 50 mark 49.66, that 50 is key resistance level. meantime traders saying they don't want to be short going into the long weekend. also talking about the iea, oil market report out this morning. nonopec producers reportedly will cut back on production but overall production will increase. so sort of mixed message supportive of price but was the price recovery expected in oil is not likely imminent. meantime, more lay-offs with big oil companies. schlumberger reporting it's cutting 9,000 jobs in addition to what we've heard from apache bp and halliburton. bp in that second phase of the deepwater horizon oil spill trial verdict likely to pay $13 billion plus in fines getting downgrades on wall street because of that though less than expected. a lot to watch in the oil patch today. do expect more volatility in the pricing but, as i said probably finish higher today as traders are saying

jackie deangelis in the futures now traders as usual are on it. jackie?d afternoon to you, scott. that's right. certainly copper it taking another dive lower. anthony grizzonty some traders scratching their heads what do you make of the action in copper and why do you think it's happening now. >> cover is an industrial metal. china is the biggest user and consumer. manufacturing has slowed in china according dot latest stats. not building the cities anymore, not doing the big infrastructure projects. the demand for copper has been way down. fors the world's biggest user. may i say that we're teetering on deflation with the prices the way they are. >> scott, i want to get your take on this and the impact it has on the stock market and the larger global economy. how should we be looking at copper? sort of a leading indicator, signaling that things could get worse here? jackie, it's easy to look at the stock market through the lens of crude oil and it's easy to understand why we do that. it costs so much less to fill up your car but that's driven by supply.

. >>> let's get straight to jackie deangelis is the the nymex. it's interesting.had a good day tore crude yesterday. we're sliding into the close here. what's going on? >> reporter: that's right. very interesting action in the pits today in terms of oil. you know, the last few days we've been marking the correlation between oil prices and the stock market. today they're diverging. we are seeing crude prices down as the stock market rallies. wti is at $48.43, down about 24 cents and brent $50.57. everyone watching that $50 mark for a settle under that point. of course, the overall sentiment right now is still pretty much bearish on prices because nothing has really changed in terms of the fundamentals. but i do want to point out as you were discussing with your guest, what the market may be thinking here about energy stocks, i have some data to share with you from morningstar that oil etfs saw $1.1 billion in inflows in the month of december in 2014. that was about 68% of the total money that went into those funds for the entire year. from january 1st to january 7t

to jackie deangelis. >> good afternoon, scott.n we broke 45 a big deal but now oil trading under $44. these are lows we haven't seen since march of 2009. the market digesting a follow-up note from goldman sachs today. goldman called for $40 oil but saying that average price will last for the first half of the year. scott, what do you make of that? >> i think it's interesting. they're talking about supply and that's really what matters. for too long we've looked at crude oil and seen it as a sign of deflation. all that we need to know about crude oil we have it coming out of our ears here and in the middle east and why it's headed to 40 about ux. >> jeff, way the to ask about the fed action, a big drop in crude after the statement came out. what do you make of the relationship between the fed and crude and was it crude that cracked the market yesterday? >> i think crude has been lean this market. yellen, people talking she cracked crude yesterday. don't be surprised to see this trade in the 30s before the 50s. i think the deflation

jackie deangelis and the futures now traders have more. >> good evening, scott.is kind of the trade that couldn't get going but gold is up more than $100 this year on pace for its best gain in seven days since 2007. certainly a nice run here. scott nation what do you make of the action we've been seeing in gold lately? >> pretty obvious the ecb, european central bank has gotten their hands on the federal reserve's playbook from four years ago and they're going to start finally get into the qe mode and that is helping gold. from a traders point of view, gold futures have been interesting. spent a lot of time around big round numbers. they bottomed at 1150 in november, spent a lot of time around $1200 and now 1300. they will reject this level like the 1150 level. >> gold continues to move higher in the face of a stronger dollarp. usually in opposite directions. what do you make of that. >> it's pretty simple here. the last decade it was tied to the inverse relationship between dollar and gold. what's going with the ecb and what they are going to potentially dos thu

jackie deangelis at the nymex. >> that's right.look at this chart on the ten year yields dipped below 1.7% earlier but we spiked back up. jim, it tell me what's behind the turnaround here. >> 13 out of the last 14 days, 10-year yield have shtsled lower than the day before. further up the curve it's more than that. to think on a friday there might be position squaring is reasonable. i don't think the fundamental story has changed but everybody is long 10-years we could see 2% before we go lower. >> let me ask jack the same question do you think this is the bottom or go lower or spike and then move around from there? >> i disagree with jim, but here and now, we're seeing the 1.70 print today, but what was so indicative in yields. the german bund, it went down to 40 basis points when the swiss national bank came out with the big decision. i think we continue to track the german bund lower for longer. dr. j criming that on the desk for a while. >> thanks so much. for more on the futures markets head to futures now.cnbc.com. >> we are a

i'm jackie deangelis frorpgts nymex. the department of energy out with its crude oil inventory last week. a build of 10.1 million barrels. prices were trading around $47 when the number came out. now down more than a buck here. traders are saying this is all about supplies right now. we are very well supplied. about 13% above the five-year average. no reason to worry about that. that's why we're seeing selling pressure. a note on brent, 48.31 where we're trading. we were trading over $50 when we were waiting for that announcement from the ecb, but then pressure strargt as soon as the dollar index started climbing again. well over 93. back to you and the "squawk alley" team. >> thank you so much. it is 8:00 a.m. at microsoft headquarters in redmond, washington, 11 a.m. on wall street and "squawk alley" is live. ♪ ♪ >>> welcome to "squawk alley" for a thursday. with us as always, jon fortt and kayla tausche here at post nine on a busy day for the markets. ecb has probably what you would call the lead, 60 billion euros a mo

traders digesting the news that saudi king abdullah has died, passing the thrown jackie deangelis breakswn for us. >> that's right. we did see initial pop on the news of the king's passing and those gains did become more muted when the market decided that, you know, things will probably stay the same. anthony, i know all eyes are on the oil minister of saudi arabia. some of the speculation, we may see cabinet shakeups, trauumpin the news of the king. what do you think some. >> uncertainty, as long as there is that and you gets. a in the market you have to sell it. the oversupply dynamic remains. as long as saudi arabia keeps pumping out 9.6 million barrels a day they are you have to sell into the rallies with that uncertainty. >> brian, bring alwaleed said we will never see $100 oil again. what do you think? >> thanks for telling me while oil is in the 40s. could have warned me about that when it was 80. >> absolutely. >> certainly $100 is far away. when we get to $80 a lot of people, sovereign wealth, corporations that become very profitable at $80 in oil and go out and hit the supply m

jackie deangelis in the futures now traders break it down. >> hi, good afternoon. that's right.are seeing yields drop across the curve not only just on the short-term notes but also long-term bonds as well. so jim, i want to get your take on this ahead of the fed. is the market expecting a dovish statement here? >> the market is thinking more possible than it was couple days ago is a fed that seems concerned about the rising dollar. so the natural progression would be to be more dovish. wouldn't be wise to call it dovish but back up on any sort of hawkish talk and see if they can talk the dollar down a bit. >> all right. brian, talk about the 10-year yield. do you think we're going to finish the year under 2% some. >> it will be a close call come the end of the year. the slightly dovish talk will keep yields down under pressure. if the market stabilizes a nd with get gdp growth out of the economy in the united states if you want to take the opposite side of the deflation you see the yields actually get near 2% by the end of the year. head slightly higher but not right away. i fo

let's go to jackie deangelis and the futures now traders. i don't know if it's safe to call a bottom. people have learned the hard way for the last several months. >> that's the million dollar questions. we are seeing gains in crude. it's off session highs. anthony, after the selling pressure if the energy complex yesterday are you surprised or expecting to see this kind of bounce? >> i'm not surprised, jackie. the bears are still in control of the market but the bulls seem to be coming out of hibernation. hedge fund added 35,000 long contracts over the last week which is a huge amount. dissension among the ranks in opec. great demand for products diesel and gasoline. you might be seeing a short-term bottom at this point. >> okay. and i'll throw that question out to you as well, jeff, do you think that this is it? do you think it's the bottom? nor and more people i'm speaking to are saying it could be. >> jackie, this trading oil contract is like the wild wild west of the ok coreral. we have to recalibrates the 1 and $2 moves now double the

let's turn now to gold because the yellow plettal hitting a 12-week high and jackie deangelis and the futures now crew has more. >> good afternoon to you, scott. it's been a rough ride for gold by all accounts but gold up 100 bucks in the last two months. so jim, is it safe to sort of wade into this gold trade now? >> i think it's much safer than it was. yes. safe i think, yes. mildly safe. i think if it settles above 1250 i like it more. some things definitely change where gold has been able to rally a little bit even though there's been dollar strength. so if anything happens to that dollar strength, for instance, if people have piled into the short euro trade too much and that reverses gold could scream higher. it's a pretty decent buy. >> sounds like you're hedging there. brian sutsman speaking of the dollar. >> as always. >> we talked about this before, traders are projecting we could see the dollar index at 100. having said that if the dollar strengthens worried about gold? >> i would be a little worried about gold but like we talked about the downward momentum seems to shift an

jackie deangelis husbandas more. >> traders saying be on the lookout for a 4 handle in wti.own about $2 on the session right now. more than 3% move at $50.84. brent not long ago just taking out the $54 level and more than 4% move there. a couple of reasons that we're watching. first would be the strength in the dollar. dollar index over 91 and many people saying we could see that strengthen all the way up to 100. so continue to watch for that trend. but also trouble in the eurozone making people wonder about demand this year. you also have russia pumping more oil than it's ever pumped in 2014. and in iraq, december exports, highest since 1980. so all of these signs not really good for the supply/demand balance. something has to give here in the first half of the year to change the decline. all signs right now fundamentally pointing lower, but traders saying don't expect to not see -- or you could expect to see, rather, slight pops here and there, buying of the dip action. but again, they do positionthink oil is going into the $40 range. retail gas prices continue to decline.

jackie deangelis at the nymex for us. >> bad news in terms of commodities despite the stock surge.eeower 46.56. we hit a session low 4 #4.20. settling undert $50 mark yesterday was paramount. pushing prices lower, the stronger dollar. but also more comments from opec members suggesting that there will be no backing town in terms of production. that was from the uae oil minister. of course negative sentiment continues. meantime, i want to point out we have options expiration tomorrow, so that could create volatility as traders are sort of hedging around those options. but also want to point out that gold is bucking trend despite that strong dollar. a little bit of safe haven buying here. gold is a trade some people for got about, but some are getting back in. >> when we come back, apple taking part in today's rally after being upgraded by credit suisse. we'll talk to the analyst who is making that call. meantime dow up 276 points. every component in the green. exxon is if last place. best day for the dow since last thursday. introducing... a pm pain reliever that dares to work all t

. >> jackie deangelis wearing her fitbit at the nymex. >> i am. for me it is a reminder of how lazy i'm being sometimes and note investigates you a little bit but they tease me down in the pits seeing it. talk about the oil prices today. a big seesaw back and forth. intraday, close to $52 at the low and then rebounded into positive territory before settling lower about 58 cents at 52.69. brent seeing pressure today, as well. weak numbers out of china worrying investors that the demand picture will drop off later this year. stronger dollar over 91. not good for the crude trade and probably why we ended the day lower. our bob gasoline down more than 2% on the day. national average for a gallon of regular now according to aaa $2.23. it's down 50 cents from just a month ago and so many people tweeting me that gas in their state or their city is now under $2. so this really is going to have a big impact on the economy this year. back to you. >> photo on twitter, $1.60. the lowest i have seen now. good for them. oklahoma city leading the way there. >> i

jackie deangelis from the nymex. >> pressure on oil again. watching wti, february off the board. have the march price at 46.88 down 2.25. brent crude 48.10, down $2 as well. imf cutting global growth forecast and also the weakest growth we've seen out of china since 1990s. that's pressuring crude today. iran making some comments that we could see potentially $25 oil and that the pressure it and venezuela putting on opec does not seem to be having any impact. earnings out this morning from baker hughes and halliburton. we did see a beat on the top and bottom line. but at same time companies are cautious about 2015. a lot to watch in the oil patch today. back to you. >> coming up bank of america ceo brian moynihan becky quick will be interviewing him live from davos. but first, interactive broker ceo thomas peterffy with his take on the swiss central bank's surprise currency move and the impact on forx brokers and his clients as well. do y ou like to travel? i'm all about "free" travel babe. that's what i do. [ female announcer ] fortunately, there's an easier way, with creditcards

jackie deangelis has the latest. >> that's right. 72-cent pop at the close at $78.65 and low this is $47 for wti and under $50 for brebt which is fairly significant. traders are telling my this is a technical bounce. typical when you have seen the kind of selling pressure of the last few days but the bearish factors remain. first, you were talking about it. the dollar index at 92. strong dollar lower crude. also inventories today. gasoline, 8 million barrel build. not the first week the see this. it indicates that demand is not out there. china forty quart gdp, talk of a five-year low and people are worried about demand with the china picture so all of these things together i don't want to be debbie downer here and looks like we are going lower. >> all right. jackie, let's find out. the next guest says volatility in oil is not going away any time soon. we're joined by kathleen kelly, welcome. >> great to be here. >> start with the positioning in the market. how long or short is everybody now on oil? >> positioning's not that bad looking at short tons commitment of trader. they have c

jackie deangelis is covering that decline and not only below $50 but a huge downward move. >> that'sht. intense selling pressure at the close. that's a pattern we have been seeing over the past few weeks with downward momentum. we closed at $54.04. trading under $50 for the first time today and the after hours session. this is a psychological level for a lot of traders. they're telling me the next stop is $48 and a lot of people changing their tune from looking at crude at a four handle the now talking about it to the lows that we saw in the economic crisis in the 30s and that's something to think about. retail gas prices going lower on this, as well. down for 102 days straight. that's a record. national average $2.20. we talked about it last week and down nine cents and going this low, the question is when does this really have a drag on the economy? as you can see, oil prices impacting the stock market and that little bit of stimulus we are going to get from consumers may not be enough to offset bigger problems to see. back the you. >> thank you. next guest says oil is heading to $

jackie deangelis at the nymex wrapping up the week for us. >> good afternoon to you.r about missing yesterday. i'll tell you what happened after i tell you how we finished the week. a 5.3% bump up stemming seven weeks of losses for crude but only up less than 1% on the entire week. meantime, today's action we had some short covering some buying as we went into the weekend. we have a three-day holiday weekend. a lot of traders saying they didn't want to have a short position on as we headed into that. brent not able to break $50, strong resistance there. so if we do break that level next week, we could see some more potential upside. yesterday this sort of volatility. we spiked and then fell another 5%. traders saying this is going to be the theme, volatility going forward in oil. a lot of people talking about a restabilizing here, is this the bottom? consensus in the pits right now says no it's not impossible to go up from here, but they do think overall we will be going lower. kelly, back to you. >> thank you so much. good to have you back as well. the fallout in oil

. >> let's get a sense with jackie deangelis as to why the reversal. >> volatility in equities and commoditieseasons, first is we have options expiration tomorrow. we tend to see some buying usually during that time of the month. also we'll get the api crude inventory out at 4:30 eastern time tonight. that's ahead of the department of energy report tomorrow. there could be whispers we're see a draw down maybe sending crude prices higher as well but $46.18 was a key technical level we hit in the electronic session. meantime we settled lower, 18 cents, the spread between wti and brent really closing in. bill, that's something you have been watching closely. a lot of traders talking about parity possibly a reversal here, maybe potentially in the next few days. we'll be watching closely. and gas prices guys $2.12. just when i gave up my car. back to you. >> oh! >> why did you give up the car, jackie? >> you're the contrary indicator? >> exactly. >> we appreciate that. >> we need to more. 13 minutes to go here. dow is in negative territory but at this point anything can happen. >> about this time o

let's go to jackie deangelis keeping an eye on oil prices which seem to be the lynch pin of this market and even as soon as we close today or settled, i should say, there still continues to be relentless downward pressure. >> that's exactly right, kelly. a lot of selling pressure into the close. we didn't close under $46 but we hit that mark today. $46.07 is where we stood, down $2.29. of course, goldman taking its average price forecast for wti in 2015 down was part of the problem, but the other issue is more sort of geopolitical commentary from opec members. you have venezuela and iran really trying to press on the cartel to do something about production. these are countries that are really getting squeezed when their break even for oil is around $100 a barrel. they're really feeling it. but opec digging its heels in the sand saying it will not do anything to reduce the bleeding and traders think prices are going to go lower from here. throw in with that a stronger dollar today and it was the perfect storm to go lower. back to you. >> why are natural gas futures down as much as they a

jackie deangelis.ent of energy out with weekly report on natural gas, draw of 216 billion cubic feet. prices going down on this, 282, around 290 before the report came out. context on this. this is more than what we saw last time this year it's more than the five-year average as well, but what traders are focusing on is as of last week stocks were 11% higher than they were last year. you all know how brutal the winter was last year so traders looking at forecast for cold for the next ten days or so. but still, because there's no talk of a polar vortex because it's not quite as brutal as it was last year these prices are staying under $3. right now, 2.83. back to you. >> thank you very much. in the meantime box shares finally set to price tonight after the bell and of course start trading tomorrow friday. what should investors know about the cloud storage company much hyped by many quarters. cnbc's julia boorstin looks inside the box. good morning, julia. >> good morning, simon. box charges companies mo