jackie deangelis takes a look at another possible reason and it's always a wild card. >> reporter: crude oil rallying for a second straight day. traders highlighting the continued conflicts in yemen with the underlying reason. reuters reporting that saudi air strikes hurt civilians, according to trade watched other middle east conflicts play out and add to crude volatility incidents like these sometimes raise the stakes in already tense situations. crude prices actually managed to take a breather at the open after a supplies note for goldman sachs made the rounds. goldman's takeaway say they need to stay lower longer to have impact on production but even that sentiment couldn't hold back today's rally. for "nightly business report," i'm jackie deangelis. >> one thing that could eat into that rally a bit, late this afternoon, the american petroleum institute said u.s. crude envenn toirs more than expected. 3 barrels. the estimate was 3.5 million. on the flip side "the wall street journal" report that royal dutch shell in talks to buy bg group, a large british based oil and gas producer. m

for "nightly business report," i'm jackie deangelis. >> the other mega deal news of the day. myland to buy perigo. one of the top shellers of the generic medications and fu mid sized drug firms. perigo said it will meet to discuss the offer with its board. higher by 3% and shares of mailan up. these were the first and second best performing stocks inside the s&p 500 index respectively today. >>> well tonight marks the unofficial start of earnings season with a late report from aluminum maker alcoa. per tradition, the company earned adjusted 28% of shares beat estimates by 2% but revenue came a little shy of expectations but it was still higher than a year ago. shares fell initially in the after hours trade. morgan brennan joins us now with one of the key takeaways from alcoa's earnings. good evening. good evening, bill. yeah so it was mixed results with shares about alcoa trade after hours as a result of that. that said this was a solid quarter for this company. we saw record results in upstream metals business. the smelting of aluminum, better than expected and we continue t

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to the nymex, jackie deangelis. >> good morning.bit of a decline in oil prices after 5% pop yesterday. traders are tell me this is interesting, because we've got a weaker dollar today, yet crude is moving in the same direction. of course, right now there's a lot of factors on the table, including geopolitical issues like what's happening in yemen, like the nuclear talks with iran. but also at the same time they're looking at supply demand fundamentals and saying none of this really seems to make sense. a mark that is trading on technicals especially as we go into a long holiday weekend. at this point, traders want to be short, take profits after yesterday, and see where we stand next week. back over to you. >> jackie deangelis at the nymex. >>> samsung's new galaxy sx reviews are in. what tech watchers are saying about the device. surprising review in "the journal" yesterday. dow's up 20 points. back in a moment. hello. i am here to offer sophisticated investing strategies. my technology can help you choose the right portfolio. moni

i'm jackie deangelis from the nymex.torage report. 63 billion cubic feet is more than traders were expecting. it's double the injection we saw last year and well over the five-year average. as you see from the chart, prices are going down on this. a bearish number. $2.55 is where we are trading at the moment. what is interesting about the nat gas trade, we are in that season where the mild temperatures are out there. you don't need heat or air conditioning. traders are expecting to see nice builds as we go forward. the injection coffers well above last time at this year. nat gas trade probably poised to go lower. watch out for technical levels. it could bounce around. jackie deangelis. now to sue herera with today's cnbc news headlines. >> thank you. here is your cnbc news update. iranian president hasan rouhani says his country is determined to reach a nuclear deal with world powers. he says a deal will be reached if world powers have the same determination to get the deal done. >>> about 4,000 workers at a northern gre

back to you, sara. >> thanks jackie deangelis. what we're seeing for the u.s.'s reasserting its strength. heading for the first up week for the u.s. dollar in four on the back of what was seen largely as a correction in the dollar's steady path higher. and in fact today the euro back at 105, weak levels strong u.s. dollar of course important to watch what's happening in currencies but with 1% moves, the impact as we really head into the thick of earnings season, goldman sachs quantified it this morning saying that the lower commodities prices and the stronger dollar going to take 3% off of earnings for the s&p 500, taking out utilities and financials. >> can i mention the gap, which came through with sales figures yesterday? if you look at what's happening at the navy division absolutely great, real surge there. still, banana republic declining for a second consecutive month and also some clearly problems at the main gap brand. huge effort at old navy to get stock in with the ports closed on the west coast. the fact that they've done so well, that brand is i gu

back to you. >> jackie deangelis, back to you.ws that moved the prices. nbc's jim miklaszewski live at the pentagon. >> it turns out this was a cargo ship flagged to the marshall islands that was making its way through the strait of hormuz into the persian gulf when it was confronted by at least three iranian revolutionary guard gun boats. those gun boats ordered the ship deeper into iranian waters. when the captain of the ship refused the orders one of the gunboats opened fire firing several rounds across the bow. the ship then complied but sent out a distress signal. the u.s. then dispatched a destroyer, the "uss farragut," and several warplanes overhead just to observe. it's interesting that when you pass through the strait of hormuz much of that is actually iranian territorial waters but because of the maritime laws everyone is allowed innocent passage. so what we're told here at the pentagon is there's probably no military role in resolving this and the iranians said this is a legal issue. don't know what that is did they fai

jackie deangelis with the futures now crew. jackie, last i saw was 186. is that about where we are? >> that's about where we are. i looked, it was 185. so at that level. actually, scott, seeing bond yields down for the fourth straight session, so pretty significant. jeff killburg, how are you trading the ten-year now? >> jackie, we continue to be bullish on bonds. seeing a bit across the curve in chicago and that obviously is pushing yields lower. but i go back to my college football days. we're looking at this buffet of bonds, right? and when my teammates would go into that buffet, we would eat all the steak they have and sell them out. what are you looking at across the globe? anemic yield. even at 185, is the stake of that buffet. >> so jim, spell this out in terms of levels. what do we have to watch here? >> well, i actually think if it settles, 185 or lower, i think 1.64 is in the cards, which is the recent multimonth low. and i keep going back to the fact that the french tenure is trading, so our 185 looks attractive. by the way, did you know jeff played football at notre dame

jackie deangelis never makes mistakes. at the nymex with the oil close and we are, pardon the pun, sliding a bit into the oil close, are we not? >> that's right. good afternoon to you, brian. thanks for not forgetting about me. we have a little mixed action at the close. we are sliding on wti because the market digested that number the inventory number that is from the department of energy this morning. it was a build of 5.3 million barrels. it's appearing to weigh on the market because it appears we're not seeing those production slowdowns that we were looking for. at the same time you're looking at brent prices a little bit higher. that's because traders are looking at geopolitical events as supportive of brent right now. yesterday the exxon ceo said that he does think prices will be low for an extended period of time, but traders telling me they're in the sweet spot right now. they are low compared to what we've seen in the past. a lot of traders still think that we're going to see $60 on wti before we see $50. back to

jackie deangelis at the nymex with the futures now crew. jackie? >> good afternoon to you.t's right five straight days of gains for the dollar. the dollar index over 99. scott nations, do you think that new highs are ahead for the dollar? when are we going to see 100? >> that's a great question. we're almost there as you mentioned the dollar index, we're almost below 106 in the euro currency and the dollar index the interesting thing it bounced really hard off the 50-day moving average and the chart shows higher highs and higher lows. looks like we're going to get above 100 and the target the recent high of 100.78.5. >> brian we're going to get a lot of earnings next week and the question is how the dollar is impacting companies. how do you think companies are managing this and what do you think we're going to hear? >> well, i think ge actually gave a little insight an how companies should be managing it going forward. ge clearly saying hey the dollar strength is hurting our balance cheat here and we'll repatriate and turn our money back into u.s. dollars. the first lead in

jackie deangelis is at the nymex with the futures now crew and iran factoring in what we're seeing yet again today, jackie. >> absolutely. good afternoon to you, scott. the latest headline that we have is that enough progress has been made to continue these talks with iran until june 30th. so that deadline extended out again. that is going to probably come out in a joint statement. of course traders are waiting for that statement before the end of trade today. jeff killburg, your take on this. is it srt sort of the traditional idea that we will see a deal that will bring more supply onto the marketplace that pushes crude lower? >> jackie, i think inevitably we do. but yesterday's 5% pop to the up side, that was due to reduction of production here domestically. but let's keep this in mind. it was only a .4% reduction. 36,000 barrels. look across seas to iran, that could be mitigated with 3 million barrels a day of production. so in the event these talks go successful as planned, i think the path on crude oil short term as well as long term is to the down side. >> okay. jim, i want to ge

jackie deangelis down at the nymex in new york city with the futures now crew. >> good afternoon.the dollar index kind of flat at this point but interesting, a lot of traders have been telling me thought the dollar index would phit 100 and it took a pause. i'm curious what you think is happening here what's holding the dollar back? >> yeah, jackie, i think what's holding the dollar back basically is negative correlation to oil. look at it over the last three months, oil hit a bottom, you know, back a few weeks ago in the mid 40s range and now trading above 50. obviously today, tough day for oil. but certainly that has given rise to the dollar. the fed playing into that as well. so i think there's a lot of support behind the dollar. look at the technicals, mid-90s range. i expect it to bounce off. one of the guys that said the dollar would trade 100 and still my target we maybe push back up one more time but watch oil and the dollar because they're moving opposite to each other and some of the ind indications in oil whaentsds goi-- what's gg on there will lead you in the dollar. >>

jackie deangelis at the nymex with the futures now crew. hey. >> good afternoon, scott.ings bonds sell off a little bit. brian, i'm curious what you think about where we're going to see yields go from here? is the bond trade over? >> well you mentioned that 2% mark, that was a key support a couple months ago and we broke below that. now the 2% acts as resistance here. i'm not certain rates go considerably higher. consider the fact that the fed probably doesn't raise rates until september, maybe later in the year, going to put pressure and headwinds on rates rising. you heard the guys talk about buying home building stocks on pullbacks. agree. rates stay low for a considerable amount of time good for the housing market and don't see the 10-year getting too much above 2% too fast tooen. >> jim, what's your take? levels here? >> i agree. i think it goes to 2% now. not because the fundamental story has changed because it hasn't. still have french 10-years around 5%, a fed that's not tightening and data that's somewhat crummy if you think about it. so i think we go to 2%. tha

i'm jackie deangelis. the oil markets closing a few moments ago. api gives us an indication of what we hear about flies about the department of energy. traders are expecting a build and that's why we sold off a bit today. also saudi arabia's output at record highs and not helping the supply situation, but prices near the 2015 year to date peak not that far off. there is support out of the mideast right now. headlines about the iranians supplying rebels with weapons and also u.s. war ships traversing the areas. also china's simulous wondering if it will bring the demand back to the table as well. back to you. >> all right, jackie. thank you very much. a reminder if they missed the previous hour. the ceo of pioneer natural resources. they will start to fall eventually. for now it is time for trading nation as the slick animation showed you. we are joined by david seager and today we are looking at oil here in houston. let us trade the oih, the oil index is the main etf in the market. the analyst there, they view the oil stocks fundamentally as they b

jackie deangelis is at the nymex. >> that's right. we're seeing oil up about 53%.raders saying this is short covering. we did fin strong on friday. having said that. crude really can't find that much direction if we were seeing selling pressure we would see the same kind of action in the rereverse. new positions, the highest we have seen weekly since 2011. at the same time gas prices are actually falling. they're down five cents in the last three weeks, the national average around $2.45. refiners and retailers are chasing demand here but that could change as the summer driving season heats up. >>> when we return nelson peltz making the case. the dow is up some 20 points. don't go away. i care deeply about the gulf. i grew up in louisiana. i went to school here. i've been with bp ever since. today, i lead a team that sets our global safety standards. after the spill we made two commitments. to help the gulf recover and become a safer company. we've worked hard to honor both. bp has spent nearly 28 billion dollars so far to help the gulf economy and environment. and

jackie deangelis is in louisiana. >> reporter: good afternoon, mandy. the answer to that question is that it is safer, but we're going to talk about the impact this disaster has had a both big oil and other companies five years later. a lot of these companies still trying to cope with hardship in rebuilding and how the industry is working on that as well. we have that story coming up. stay with us. (under loud music) this is the place. ♪ ♪ ♪ their beard salve is made from ♪ ♪ ♪ sustainable tea tree oil and kale... you, my friend, recognize when a trend has reached critical mass. yes, when others focus on one thing you see what's coming next. you see opportunity. that's what a type e* does. and so it begins. with e*trade's investing insights center, you can spot trends before they become trendy. e*trade. opportunity is everywhere. [intercom] drivers to your marks... go! it's chaos out there. but the m-class sees in your blind spot... pulls you back into your lane... even brakes all by itself. it's almost like it couldn't crash... even if it tried. the 20

let's hand it to jackie deangelis, nat gas industries and oil as well. >> good morning to you simon.t week we saw an injection of 90 billion cubic feet. traders looking for 88 billion cubic feet. what is interesting about the nat gas trade, it's come down more than 10% year-to-date based on the stock piles we recovered so far. traders feel we are in a good spot in terms of the amount of inventory we have. injection 81 billion cubic feet. slightly less than traders were expecting here. as i was saying about the stock piles, they are looking for a catalyst, something to bring us down further from here. that could be a summer that is more on the mild side where people aren't using as much air conditioning. take a look at prices right now. we were trading negative before. slightly higher now. $2.66 is where we are trading at this point. back to you. melissa lee, i apologize. >> here is the news update. many survivors of the nepal earthquake are waiting to be evacuated. hundreds of survivors are desperately trying to board a helicopter. more than 5,500 people have been killed with another

we want to go to jackie deangelis at the nymex. >> good morning to you.of energy saying that last week we saw build of 4.8 million barrels in our crude vin inventory, more than we were expecting, less than what we got from the api last night. prices rally after this number up 60 cents over the $48 mark, 48.13 where we stand now. we were down yesterday. so we could see some buying today because people are disregarding the inventory numbers and just sort of buying the dips and doing short-term trades. also, of course all focus is on the nuclear talks with iran the deadlines have been extended. some traders saying it's a positive sign looks like framework is there, others saying delays are not good and it could mean we don't see a deal anytime soon than could be supportive of prices because iranian oil wouldn't come back on the market. these are factors to consider. dollar's a factor as well. different angles on the crude oil trade. >> overall, higher prices on the back of another $5 million build in crude stock. stole with us bruce van saun chairman and ceo

i'm jackie deangelis. the department of energy out with weekly natural gas storage report.on cubic feet, it is sending prices lower. traders are saying that they expected to see or start to see builds. we're getting into the in between period you don't need heat air-conditioning demands starts to drop off. last year at this time and with the five-year average, we've seen a couple of withdrawals because of colder weather. right now seeing builds definitely going to send gas prices down. traders looking at 2.25 as potential target unless mother nature throws us a curveball. >>> reprising a story at 9:00 a.m. this morning intel has ended talks to acquire chipmaker altera, after a number of months of negotiations between the two companies, significant due diligence on the part of intel. they could not agree on an appropriate price. but intel, at least in the view of altera was willing to pay. as i reported earlier, sources familiar with the situation indicate intel had offered a price in the low 50s, all-cash deal, may have even been as high as $54 a share. however, it was rebu

let's get to jackie deangelis for the closing at the nymex. >> down slightly on the day. what's interesting here is we've had seven straight weeks of gains, not surprising to see some selling but there's some support in this market as well. what's even more interesting is that the price of gas now at the pump is catching up to the oil price as well. the lundberg survey reporting the price for a gallon of regular is $2.58. that's up 5% or 13 cents in the last two weeks alone. of course analysts are expecting this price to creep up slowly as we get into the heat of the summer driving season. you're in california one of the more expensive places to buy gas. the cheapest play to buy gas is tucson, arizona, $2.20. here in new jersey we were under $2 not so long ago, brian. back to you. >> yes, but as we've talked about, futures prices new york traded gasoline up 45% in three months, gas prices are going higher, america. >>> time for street talk analyst recommendation all the stockses you must know about. this one could be a short opportunity, melissa. our first stock is eaton

our jackie deangelis is drilling down for the details. hi jackie. >> good afternoon, kelly. let's talk about why this deal is so significant. the first is that it's the largest in the energy space this year but also the third largest energy deal ever according to thompson reuters. here is what you need to know. you mentioned the $70 billion acquisition price. but also why bg and why now? well the first issue is that bg is a company that has diversified assets. it's lng and oil assets and it could boost shell's portfolio by roughly 25%. in terms of why now, you mentioned the decline we've seen in oil prices. it has taken a toll on bg's stock down 30% in the last year or so. so it seems like it might be a good time to get in there. the question that a lot of people are asking is if this signals we're going to see a wave of m&a within the energy industry. answers on that are different. some people say yes, some people say there will be big targets, smaller targets. some of the names being tossed around include anadarko bp we're talking about apache eog, names like pioneer, just

. >>> jackie deangelis is standing by at the nymex. >> this was one of those weeks that left traderstheir heads, not sure what's going to happen next week. the fact we didn't close over 56. we settled at 5574 was a little bit of a negative sign to a lot of people. that was a key technical level. also you have the head of citi's european energy group saying to our colleagues that he's still bearish on oil and thinks there could be downside pressure ahead ahead. a lot of people are questioning the analysis that this wasn't a head fake that this could be a bottom and wonder if we'll continue to trade in the range of 45 to $50 until we get more concrete information. we get an opec meeting in june. nobody is expecting to see a production cut there. we had an output report from them that said they were raising output in march. that supply/demand equation is still on the table. also we have that correlation with the dollar come back a little bit. you get a stronger dollar today, pushing crude down as well. but still, five straight weeks of gains. we haven't seen that since february of 2014.

let's go to jackie deangelis who's standingably by at the nymex. >> we were up $3.10 in your 6% move wti finishing at $56.39. now, first reasoning for this was that we got an eia inventory report this morning. it was a small build, much less than we've seen in recent weeks and months. traders took that as a positive sign that the supply/demand balance is starting to come into play for the bet per meantime geopolitical tensions in the middle east also causing some nervousness. definitely adding to the upside movement here. but still, on the fundamental side it's going to take a while to work itself out. technically we keep driving higher. the question is really is this a head fake or is it the real thing? have we finally found a bottom? i will tell you this we've seen a lot of volatility this year. moves of 4% to the upside and the downside, 22 times this year. those are big swings in either direction. so it's really hard to say if today's move is really monumental or not. the market certainly will tell us in the coming days. back to you. >> that is for sure. jackie, thank you very mu

we'll get to jackie deangelis live at the nymex when "power lunch" returns. stick around.ppointment when my teeth are ready? ♪ ♪ can it tell the doctor how long you have to wear this thing? ♪ ♪ can it tell the flight attendant to please not wake me this time? ♪ ♪ the answer is yes, it can. so, the question your customers are really asking is can your business deliver? >>> hello, everyone. i'm sue herrera and here is your cnbc news update at this hour. iraqi troops fighting militants in anbar province say they have recaptured territory and killed 250 militants. but much of that province and still under control of isis including the capital, ramadi. >>> actress angelina jolie addressing the united nations pleading world leaders to help millions of refugees in syria. as a special envoy, jolie has made 11 trips to visit with refugees since the crisis began four years ago. >>> elaine wynn will not return to the board of the casino hotel company she co-founded with her husband, steve wynn. that's based on preliminary votes by shareholders. >>> and the world's first malaria vacci