jackie deangelis has more on the reversal in oil. >> reporter: a bumpy quarter for crude oil prices. we saw crude go down to that $26 level for the second time before it rebounded back to $40. the dip attributable to the global supply glut. the bounceback due to rumors in the market that a production freeze could help stabilize the market. and hopes that the summer driving season will start to boost demand. but even if global producers meet in qatar on april 17th, can a consensus be reached? and would an agreement to freeze production at current levels be enough to support oil prices? >> i would think these -- there's a freeze now, that should be enough. now granted that means that the demand must increase here. which is something i am expecting in this driving season that's coming up. >> freeze or no freeze the fear at the moment is that producers will feel comfortable pumping more in a higher-priced environment only to drive the market down again. and if history is an indicator, last year prices fell in june when stockpiles were little diminished. summer driving demand wasn't enoug

. >>> good morning, i'm jackie deangelis at cnbc. mcdonald's may expand its all day breakfast menu.y're testing more items in oklahoma, north carolina. and could roll them out nationwide in the coming popts. currently mcdonald's all day breakfast only offers a limited number of items like egg mcmuffins and hotcakes. with your c thbs morninbc morni report, i'm jackie deangelis. >>> four things to know, police investigating two violent incidents on benning road. a shooting around 1:00 achl and no suspects in either incident. >>> would suspects on the run after killing five people at a backyard cookout in pennsylvania. police say three others were hit with two this critical condition right now. >>> metro's finance committee meets today to approve the system's new budget. $1.7 billion plan will work to improve safety and security. there are no fare increases. >>> people forced to abandon their homes in louisiana where another foot of rain is expected to fall today. it's caused widespread flooding and two deaths. >>> here is another check of your seven day forecast. today is the last of

back to you. >> jackie deangelis, our thanks to you. joining us now to discuss is curt howlet.learly as jackie points out a big event will be this meeting of oil producers. how important is it going to be in terms of moving the price ahead of it into that april meeting and after. >> good morning. yeah, i think anytime it has an opportunity for the saudis to give their perspective on the oil market, it's a very important market. just as important, the fact that having russia involved. those are two of the three largest oil producing countries in the world right now. and i actually think the actual pivot point for marking a low on oil came in early february when the saudis did agree to the production cut -- or not the production cut, the production freeze. and to have this meeting with non-opec producers as well. >> kurt, when we look at the way the oil prices have recover the reason is for the bounce as you might have suggested in february, the last few weeks, this resilience that we've seen, how much is down to currency as opposed to the supply factors that you point to to the

with your cnbc morning business report, i'm jackie deangelis. >> it is now 5:56. today the white house is getting ready to roll out the red carpet for the newly elected canadian prime minister and his wife. our first couple t trudeau and his wife for a state dinner. if you're curious about what is on the menu, baked halibut casserole and baby lamb chops. and my favorite dessert, butterscotch swe butterscotch swirl ice cream. >>> we're tracking two acts of violence on the same d.c. street. stabbing in northeast and a shooting in southeast. >>> at 6:00, what we're finding out as several people are in the hospital and police try to track down who is responsible. >>> live look outside for you. 64 degrees here in tenleytown. we're looking for another big time warm-up today before a little rage on the puig he said. . . i >>> right now at 6:00, violence rock as d.c. street early this morning. a shooting and a stabbing p what we're finding out from investigators. >>> another mass shooting, this one outside of pittsburgh. multiple people dead. others in the hospital. and t

jackie deangelis is here with this morning's cnbc business news. good morning, jackie. >> good morning to you. that right. cbs planning to spend $50 million over the next five years on a youth anti-smoking campaign. "the wall street journal" reports it will include social media, video graphics, and school programs. remember in 2014 cvs became the first drugstore chain to ban tobacco products from its drugstores. >>> wall street looks to add to wednesday's modest gains. stocks did rebound. we're going to get some data this morning on new filings and investors are also eyeing the european central bank which is whiteley expected to unveil its second round of economic stimulus in three months. >>> the dow rising 36 points to 17,000, the nasdaq adding 25 to 2674. back to you. >> thanks, jackie. >>> and we're all wearing pink today because the weather is so nice. it's going get warm this afternoon. over 30 degrees above normal. wait till you see the temperatures again. here's a live look outside. nice start to the morning. mild temperatures. i'll shoal yo

let's head down to jackie deangelis now on the floor of the nymex.aken brent to the highest levels this year and wti, as i send it to you, up 5% right now. >> hi, scott. that's right. a remarkable move to do. but traders are telling me this is a continuation of the strength we were seeing last week. this is sort of the seasonal momentum that transitioned that we were expecting to happen march, april time. it's happening at this point. equity strength is also going to propel oil prices higher, even though there are those out there saying it's oil propelling the equities higher. i will say this. it's not just in crude oil, also in gasoline too. retail prices, as well. we're seeing it at the pump. lundberg survey saying prices are up 7 cents in the last two weeks alone. also traders are saying no one wants to pick a short term top here, even if they have some more down side bias here. because there is too much momentum. this is a technical trade, once we breach these levels, keep going higher. and, of course, definitely you guys mentioned short covering

. >>> now let's get down to other money matters with cnbc's jackie deang li deangelis. >> reports sayinggolden aarches is testing more items in oklahoma and north carolina and could roll them out nationwide in the coming months. currently their all-day breakfast, which boosted sales since its launch, only offers limited items like egg mcmuffins and pancakes. >>> a new, younger actor will step into the role later this year. since debuting the ads in 2007, dos equis has seen sales nearly triple. >>> that's a lot of liposuction, plastic surgery procedures at an all-time high in the u.s., with nearly $14 billion spent last year. the number of surgical and minimally invasive procedures, like liposuction, rose 20% while nonsurgical procedures, like botox, rising 20%. back to you. >> i wouldn't know anything about that, jackie. >>> just ahead, which losing team just got into the ncaa tournament? >>> and we'll show you an amazing fake out by american alex morgan. that's next. es the smell of a fy bound presentation fill you with optimism? do you love your wireless keyboard more than certain fami

. >>> time now to get down to business with cnbc's jackie deangelis. good morning. >> good morning to you. well, let's start with mcdonald's because it may expand the all day breakfast menu. reports are saying that the golden arches is testing more items in oklahoma and north carolina. it could roll them out nationwide. the all day breakfast which boosted sales since the launch in october only has limited items. >>> a new younger actor will step into a role later this year but since debuting the ads in 2007, due second i can's has seen the sales nearly triple. >>> that's a lot of liposuction. plastic surgery procedures are at an all-time high in the u.s. the number of surgical and minimally invasive procedures like liposuction rose 20% while the nonsurgical ones like botox rising 22%. back to you. >> oh, it is important to look good for us apparently. thank you very much. >>> just ahead, which losing team got into the ncaa tournament? >>> plus, frightening moment for one cab driver, but watch this. wait till you see what happens next. constipated? trus

jackie deangelis tells us what the iea sees. >> the million-dollar for question for oil, have prices bottomed? the international energy agency said today it's possible. the report citing reduced output in the united states and from other non-opec producers as one reason supply and demand should begin to come back in line. it also said iranian output hasn't been as dramatic as believed before. in fact, here in the united states, the agency expects production will decline this year by more than 500,000 barrels per day. it said opec pumps 90,000 less barrels per day last month. all positive signs that will support oil prices. but it's not just the iea report influencing prices, it's also seasonality. >> usually around memorial day is where we have our climax here to see if the market really is a strong usage market. again, i can't foresee it yet. i think it's going to be a big driving season. and i do see the prices holding firm. >> $40 is a key psychological level for oil prices. we're edging closer and closer. but does this rally have legs to break through and hold? >> crude oil, i wo

jackie deangelis joining us.f war today, you had inventory data which was very bearish, but venezuela coming out and chirping about a possible meeting which is bullish, where did we end? >> that turn around was massive in terms of momentum you see in the trade. the number was a big build. i had more reasons for you why we turned around and saw support, not just the chatter about a potential freeze. there was the reuters report that the saudis are out talking to banks about a $10 billion loan from reuters. in the department of energy report, you had a production decline here in the u.s., the sixth straight week in a row, we get closer and closer to that 9 million barrel a day mark in terms of production. it is march. people are anticipating the builds are going to start shrinking, summer driving season will kick in and you'll start to see a turn around in oil prices. interesting because the intraday high was $35.17. if we get a close over 35, that will be enough to drive us a little higher from there. that's where

to jackie deangelis. >> good afternoon to you. about a 2% pop in oil prices on the day.$38.50. these are the highs set for 2016. it happened today. the iea report saying we possibly bottomed here and production numbers from the nonopec producer and the u.s. should start to come down. also, the rig count numbers, we lost six oil rigs, that is supported as well. i'll add there is some downward bias out there. things that traders are concerned about, they're worried about a surge in the dollar as a potential hit to commodities and producers may ramp up production now that prices are higher and more lucrative. they can slam them back down themselves. last year, if you look at the one year chart, you see we did go up in term of price in anticipation of the summer driving season. but in late june, we came back down. looking at trends and patterns, that is a potential again. short-term, your traders were saying look for $43. i'm hearing $42. not out of the question. back to you. >> jackie deangelis, thank you. >>> now to sue herera with your news update. >> here's what's happen

with your cnbc morning business report, i'm jackie deangelis. >>> -- has led to a state of emergency right now in louisiana, where thousands of people have been forced to evacuate their homes. entire neighborhoods are under water expected in the state today. nbc's janet shamlian shows us the worst of the damage. >> reporter: there is no relief for the people of many communities in the state of louisiana. right now the rain is coming down as it has been for the past 48 hours. an additional 3 to 5 inches in the forecast for today, and that is not going to help folks who are trying to get back into their homes in this flooded-out neighborhood known as tall timbers. some 100 homes in this community are under water. some of them have as much as 5 feet of water in their residences. >> everything you see is gone. i've got a brand-new roof on the house that's absolutely worthless. so, me and my three kids lost everything today. >> reporter: last night they called for an additional 3,500 families to a mandatory evacuation because as these waters rise, there is the concern that another levee w

jackie deangelis joins us this morning. great to have you up early with us. >> great to be here. >> is this going to continue? >> it's been interesting. i'm going to lay out two cases for you so we can really look at this and analyze it. definitely a bit of a momentum play to the upside. we're down a little this morning but holding over 38. that's very significant. this is the time of year it typically happens. we had an inventory build yesterday, but we're seeing those builds shrink a little bit. gasoline we saw a drawdown because you're going to expect more people to hit the road. the weather is nice. they're going to want to be driving around. that boosts demand. this has been about supply and demand. we have a huge glut. if we start to consume some of it, that's good for oil prices. we've had a lot of opec chatter. all of these headlines have been supportive but no substantive action. we're not really talking about an actual freeze yet or a cut in production. we're not really talking about saudi arabia tapping the marke

cnbc's jackie deangelis is at the nyse. >> good evening to you, melissa.il prize rising 20% in the last month alone on the hope that this producing meeting on april 17th will end in a production freeze. remember, it's not an emergency meeting. the next official meeting. cartel is going to be in june but it's a meeting of global producers to sort of find some accord so who is coming. what will it matter? the guest list includes some. opec members but not all of them. some of them have opted out including libya and iran and with the resignation of the iraqi oil minister last week because it's unclear that that country will have a delegate at that meeting and while the saudis may show, they have no reason to freeze or cut production and they have made that clear. the russians is have been encouraging a freeze and they are likely to play along but there's been no talk of sending a u.s. delegate to attend this meeting. with all of the parties not coming to the table here the market seems a little skeptical that an accord is going to take place. it definitely is

jackie deangelis with the futures now. >> good afternoon, scott. under 40, on track for its longest losing streak. scott nations all eyes on this producer meeting april 17th. looks like people don't think there is going to be any kind of accord at that meeting. that's why prices are going down. what do you think? >> well, it's the first step towards a production cuts. actual production cuts. people talking about the fact that iran and libya aren't going to be there. who cares? we know they're in a completely different situation than every other producer in the world. crude is now following the support we have seen since that $26 low and the next stop, $44. >> what are the levels you're watching? a lot of people saying they're looking to the down side here. under 40. >> yeah, absolutely, jackie. i'm going to push back against scott. i don't think it's the first step to a cut. they're talking about a freeze. they had not used the word cut. it was when it was trading $20, not $40. with that being said, oil has traded up to the 50% replacem t replaceme

jackie deangelis is at the imex. jackie? >> an $8.8 million barrel bill. that's why we're seeing prices decline like this many this morning but still holding over 40. we have the see what the dme says. remember, the bills are expecting to start decreasing. 8.8 was a pretty big number. bob pisani brought up the dollar. another half% move today. certainly bearish when it comes to commodities, energy, and crude. we're getting closer to that 9 million barrel mark. we're not going under it. in fact, the last couple of weeks we've been staying over 9 million barrels. of course, you brought this up as well, this self-defeating prophesy. producers maybe start pumping more. we saw one come back online. and then that slams prices down, so something to watch for. brussels premium, not really in the crude trading right now. back to you. >> thank you so much. we'll talk with you soon. when we come back, airport security. we'll talk with a former csa administrator, down. nike accounting for half of that on the downside. we're back with that in a moment. anything worth p

er of the jackie deangelis. >> we've got to a building crude inventories of 9.2 million barrels.s is a little bit higher than expected. it's a big build but less than we saw last week. the reason prices are spiking here, we were trading about 3724. now about a buck. gasoline trading. it has been building but this decline here is in line with the seasonal patterns you would expect at this time heading into the summer driving season. i think that this is what's sending crude oil a little bit higher. meantime i do want to highly the fact that there's income coming from the reuter's headlines. it looks like it's about $6 billion to $8 billion. we're looking at specific banks here. people are interpreting this to mean the saudis are expensing the pain and the pain will lead to action. it's hard to say whether it will or not. but, again, 6 to $8 billion really a small amount for the saudis to be borrowing at this time. saudis are trading. we're up a buck 2010. back to you on "squawk on the street." >> thanks, jack kichlt china's stockmarket mean tooil has been a source of worry if inve

jackie deangelis. natural gas, a withdrawal of 48 cubic feet. that was a little bit steerp.ng 37 to 41. let me put this in context for you. the five-year average, we've seen drawdowns. last year at this time, over 200 billion cubic feet. you can see because of the milder temperature that this isn't as significant but also keep in mind these prices have come down a lot. flagd the 160 range. 20% in a month. we haven't seen these price this low since 1999. we're heading into that in-between phase. we have warm weather coming up in new york next week where people won't be using their heating or air conditioning. it's well over the five-year average. they could see a little more volatility, could see more downside. we were trading 163 before this report, trading at 166 now. sue herera with the business news updates. two women who attacked police with a gun and hand grenade were shot and killed. they escaped in a vehicle and hid in a building a short distance away where they were surrounded by pleeg and feed as part of a militant group. >>> google will donate money to help with th

to jackie deangelis. >> was a volatile day for oil prices, $2 move to the upside. finishing just under the $38 mark. did we have some short covering here? absolutely. did we breakthrough key technical levels and see momentum to the upside? yes. that's what's happening here. a continuation off of the strength we saw last week. it is not just in crude oil, it is happening in gasoline. we saw 7 cent retail pop, paying at the pump going to increase because we're heading into the summer driving season. temperatures are getting nice and people will want to hit the road. expect xhod expect commodities to continue up. it is hard to be short crude oil. >> thank you very much. >>> for from oil to street talk. our daily dive into the analyst recommendations on stocks that we think you should hear about. micron technology, cut to a reduce -- reducing price target on mu to 8 bucks, about 38% below this morning's price. he thinks the industry is kind of like oil, all the memory producers are going after market share instead of worrying about price. he adds smefers are not factor

. >>> a closer look at oil prices, jackie deangelis joins us from the nymex. >> as michael santoli pointedut earlier, the market is looking for conviction today. if you're looking for it in oil i will not find it. we're seeing a 3% slide as we start the session here. fundamentals in focus. we will get inventories tomorrow from the department of energy. looking for a 3 million barrel a week build. total stocks at still record levels. when you come back to supply and demand, the story is a crude one. we will hear from the api after the close today. the dollar in focus as we hear from janet yellen today. this has a big impact on commodities. we started stronger and we are pulling back. if we get more of a hawkish tone and short-term we see that dollar strengthen, it will put pressure on the commodities complex. the wti price down almost 8% in a week. only up 13% in the last month. giving back some of those gains. technical level to watch to the down side right now, 37 bucks. if we breach that, more downside pressure. back to you. >> all right. >>> up next, former apple ceo john sculley on the

let's go to jackie deangelis at nymex. >> 34.40 is where wti finished the session today. crude moving high in lock step with equities today. they think the equity market is the momentum that drove the crude trade higher because there wasn't a catalyst. they are looking for one to take crude over the $35 mark. api is out this afternoon. department of energy tomorrow morning as well. estimates are all over the place. we are looking to biological a plats of 2.5 million bears but i've seen 4.5 to 5 million as well. as api and department of energy come into line we've seen what happens. that's one possibility. of course they don't always move together. back to you. >> thank you jackie. >>> let's bring in dom chu for a market moving news flash. >> watching what is happening with shares of tesla. they are taking a hit. this is in reaction, you can see there down by 2% just in that right-hand side there, the sharp turn lower here, this on a citron report. the noted short selling firm. they have a book, portfolio they handle. they swetweeted out that citron shorting tesla. they sa

. >> jackie deangelis is at the nymex. >> oil prices not really affected by the attacks in brussels. historically these incidents do send prices higher. looking back to the paris attacks, we did not see the same reaction, potentially because the supply. crude trading just under $41 a barrel. a strong dollar on the day, relatively weaker is probably adding support here this contract is up 23% in the last month alone. absent a significant catalyst that limb paimpact supply and d we probably won't see it run up anymore. tomorrow we hear from the api. the builds are getting smaller seasonably. given the situation abroad, i would say be flexible when watching the markets and expect to see a little volatility in the prices. jackie, thank you very much. joining us on the phone is howard gutman, former u.s. ambassador to belgium. thank you for joining us. >> my pleasure. >> what should we know about belgium and law enforcement in belgium that helps explain how they're going to react to this today. >> belgium has been facing the problem emanating out of maelbeek and i thought the security for

. >>> let's look at oil prices now with jackie deangelis over at the nymex.ood morning. >> good morning to you. we are bouncing around the flat line but holding under $40 a barrel. that does have the momentum pointing to the down side. dollar still in focus. talking about a range of 37 plus or minus five dollars. the next catalyst is the april 7th meeting in qatar. i've been getting questions about this i want to focus in what will happen here. this is owe pep ppec producers non-opec producers getting together on a freeze. not everybody appears to be showing up. some opec members like libya not coming. the iraqi oil minister resigned on friday. it's unclear if they'll have a delicate there. russia is interested in a freeze, but the u.s. has not said anything about that or going to the meeting to talk about it. there's a lot of uncertainty about what will happen mid-april. that could impact prices from here. traders are telling me investment analysts are telling me that they think oil prices could see another leg lower from here, especially if we see the fluct

jackie deangelis with more.i nice to see you. >>> and you, darlene. cvs planning to spend $65 million over the next few years on a youth anti-smoking campaign. the "wall street journal" reporting it will include social media, video graphics, and school programs. in 2014, cvs became the first national drug store chain to ban tobacco products from its stores. a move that it says cost the > meantime, dos equis will have a new younger actor replace 77-year-old jonathan goldsmith. since debuting the ads in 2007, dozens dos equis, owned by heineken, has tripled sales. he stayed in until he was 7. there's still hope for us. >> only a couple years away. >> around the corn or this side, jackie -- corner on this side, jackie. nice to see you. >> goodness. >>> 6:10. an all-out brawl on an airplane. what sparked this midair fight? midair fight? >>> the man known as the hot convict is getting out of jail. and he has already laid out a new career. >>> plus, you'll love the forecast. attention parents: before school this september r all kids entering 7tht and 12th r

to jackie deangelis. >> good afternoon. it looks like we'll have a close just under $38 a barrel.rately lower for the day. a trade driven by technicals now. and we are establishing that we're in a new range here towards the upper limit. you see how much equities are dragging, crude isn't on the same level. some of the sort from the summer driving season approaching, but also from some of the headlines about maybe an emergency opec meeting. we heard about this in march. doesn't feel like we'll breakthrough $40 traders tell me at this point absent a catalyst. and they are waiting for something to happen though that would be very key both technically and psychologically. so we'll keep an eye on the trade. volatility expected to continue. back to you. >> thank you. speaking of oil, we have a big show on tap tomorrow. our own brian sullivan is live in the bakken. "power lunch" starting at 1:00 p.m. eastern. >> a civil war in the republican party, not just over donald trump, but one issue he focus on a lot. trade. eamon javers joins us now. >> it is a huge issue for republicans and also

i'm jackie deangelis reporting from the department of energy out with its weakly petroleum status report. we got a building crude inventory, 10.4 million barrels. this is even over what we saw from the api last night. this is a massive build when it does comele to crude. we were trading flat, now down under $34 a barrel. gasoline actually a draw there of 1.5 million barrels. what i want to see digging into this report is what happened to u.s. production on a weekly basis. sop far, we've seen five straight weeks of slight decline. so starting to see a little bit of a transforming here. also want to the see what happened in kaushing, how big that build was there and what's happening in the refinery run rate. now remember, in march here, we're going to see these build slowly come down as we head into the april. that's the start of the summer drive lg season. there is some support for oil prices, but again this number, big, 10.4 million barrels. melissa lee, over to you with the business news update. >>> here's what's happening at this the hour, powerful shall ally earthquake hit off the coa

jackie deangelis here with the word from this hour. jack? >> reporter: after janet yellen spoke, despite the action in saw in stocks, wti finishing at $38.28 and did droe below 38. it says fundamentals are back in focus and we'll get inventories from the api and doi and expect overall stocks still at pressure highs and that's what's pressuring the market. the dollar is going to be part of the story so watch that closely, too. back for you. >> jackie, thank you very much. >>> well, it's time now for trading nation because after all traders trade better together. let's talk two things. energy and brazil. we're going to split it and do it a little different this time. max wolf chief economist at manhattan stacy partners and stacey gilbert at susquehanna. i'm going to start with you and oil. your take on what's going on now and more importantly what is likely to happen. >> yeah, brian, fair question. so in the etfs and options that we interesting, if anything the sentiment really seems to suggest less movement with a slightly bearish tone so if

jackie deangelis. >>> when we come back, mark ma hai hainey and his thoughts on the proxy fight with in a minute. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. in new york state, we believe tomorrow starts today. all across the state, the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in buffalo, where the largest solar gigafactory in the western hemisphere will soon energize the world. and in syracuse, where imagination is in production. let us help grow your company's tomorrow - today - at business.ny.gov we believe in the power of active management. anagement, we actively manage with expertise and conviction. so you can invest with more certainty. mfs. that's the power of active management. with extraordinary offersmance on the exhilarating is... the thrilling gs... and the powerful

i'm jackie deangelis reporting from the nymex with the energy close. turning negative into the close here, we are seeing the april contract under $40 a barrel. we hit highs in the may contract of 42. now closing just about at 41. interesting here because there was a turn in the dollar index today. that was part of it. as i reported this morning, there are traders out there saying they're skeptical of the rally that we have seen. a lot of it is based on this producer meeting scheduled for april and also, of course, the equity strength that we see this morning, but saw a decoupling today in that relationship. if we do have that producer meeting in april, these are headlines for the moment. very difficult to schedule. you do need to get those parties together to cooperate, to put an agreement on the table to actually freeze production and that is why people are worried about this rally. traders telling me a lot of it is technically driven and a lot of it has been momentum driven as well. even though we're in the higher end of these ranges that we have bee

i'm jackie deangelis reporting from the nymex.epartment of energy out with its weekly natural gas storage report. we have a drawdown of 57 billion cubic feet, a little higher than expectations, a little steeper drawdown than we were expecting but still well under what we saw this time last year, well under the five-year average of 118 billion cubic feet. the total stock's about 50% higher than they were this time last year as well, and that's been the nat gas story. we are very well supplied. we were trading at 1.78 before the report. we're still in positive territory here but slightly lower at 1.77 at this point. traders are telling me we could go down to the 1.50 level, if temperatures continue to be mild and stay in that in-between where you don't need heat and you don't necessarily need to turn on air conditioning either. so, look for nat gas prices to possibly go down. remember, 12% decline this month in nat gas alone, 35% decline in the year as well, so, these prices are very depressed when you compare them to what we've bee