jeff currie of goldman sachs you matter thank you, jeff.eat day >> thank you >>> always welcome let's get to the top corporate stories, including elon musk taking new action in the legal battle with twitter. silvana henao is here with that and more welcome back, silvana henao. it's been a minute. >> i'm back. we'll talk about musk. musk's legal team telling the twitter whistleblower they want to hear from him as they look to bolster musk's case to back out of the $44 billion takeover. lawyers for the former security chief reveals they received a subpoena over the weekend over the twitter handling of fake accounts is a key argument of the musk efforts to abandon the deal and could play into the case nor into the come upping tl in october. >>> peloton is delaying the financial release. it needs more time to sort out accounting tied to the restructuring efforts before releasing the 10k. peloton says it has to figure out the financial impact of parts of the turn around plan, including moving away from delivery and warehouses. >>> lawmakers in c

jeff currie is global head of commodities research at goldman sachs. we had a guest yesterday from citi, jeff, who goes the other way. you say there are irrational expectations out there that are keeping the price down and moving lower what are they, and what do you think will jar those irrational expectations or sideline them so that prices begin to move back in the direction you expect? >> well, it's primarily been driven by investor liquidation over fears of a recession. the other thing that's likely going on is destocking if you really believe we are going into a disinflation environment and that we're going to see a substantial slowdown, you destock your inventories waiting to buy at a lower price. we see that metals, agriculture to a lesser extent and energy. investors are also liquidating their positions, and why i call it irrational is you have prices going down and inventories going down bullish fundamentals with downward price action is not sustainable. and i like to point this out the last time we had the rate markets price in a recession wi

goldman's jeff curry reiterating his call for brent to hit 130 per barrel by the end of this year heng on squawk box that the market is missing a key point and that's that while demand growth is slowing it's not contracting and supply remains tight, all of this supports prices in the back half of the year. let's check on closing levels. wti down 5% at 93.70 and brent crude at 99.99 for a loss of 3.8% and energy stocks are falling lower and the group is the worst performing s&p sector and they'll provide quarterly updates this week including deafon and transocean for today after the market closes. >> pippa, thank you for that. >> checkpoint technologies reported second-quarter results this morning beating estimates with a 2% gain and yet shares of the cybersecurity solutions company are down today almost 5% now. let's bring in gill shaved and with check point software technologies great to see you today here you have earnings coming in with revenues up 9% above the second quarter you have subscriptions up 14% and that's all really good news so where are these headwinds coming in? wher

. >>> round the world, the energy crisis is front and center we will speak with jeff currie with his outlook and why it is a golden opportunity for you. >>> businesses in the uk and across the continent bracing for a surge in power costs and many asking if they can afford to keep the lights on another month. > ar

on with its previous output plan in other words, we might get some oil fireworks joining us now, jeff currie research what do you expect, jeff >> in terms of looking iing at e overall fundamental picture, we would expect they would roll over the key point here is that what we see on -- in terms of the fundamentals of the demand, there is a slowdown occurring, but it's not a contraction and i think that's what's being confused in the narratives, is there's a view there's a big contraction recession going on that's broad-based across commodities given the pullback in prices, but the reality is the underlying picture is slower demand growth after a very torrid pace this year and not an outright contraction so it's not like the fundamental picture is distorted extremely one way or the other, but the financial markets are seeing something very different this is one thing i said in the last week and the previous week. physical markets are telling a very different story than the financial markets. >> we would sometimes view the interest rate sector as a commodity. what the heck is happening there w

jeff curry with a 120 call at goldman sachs. arch call of those who look for higher oil prices is on the demand side. it's not the romance of what russia is doing, it is the demand of emerging markets. covid will end. china will do better in some way. and that will bring on oil demand. that's the core of their thesis. lisa: as we are looking now to see how that plays out at this persistent moment of gains. we were talking about it earlier, we are seeing it continue to mount heading into the open with the nasdaq up 7/10 of 1%, the s&p doing less good, but still up at nearly 6/10 of 1% on this merger monday, really deepening our understanding of tom keene's garbage disposal. and the purchase of whirlpool. 10 year continues to go down. 2.79% at a time when the two year is well above 12%, the curve inversion. tom: single most important data point is 43 basis points. let me define that for those who are moving from global wall street. the difference in yield between the two year and 10 year, .43 percentage points, you move the decima

any slowdown in ex-poports coul send oil prices higher we interviewed jeff currie at 5:00 a.m check itl has a $120 target on crude oil by the end of the year as i reported last week, opec may be ready to consider cutting output cutting output our conversation with the saudi oil minister a lot of good news from germany. joe, i know you floated down the danube with your family. you can walk down the danube right now. >> you have seen those pictures. you are right. beautiful. >> exposing treasures. >> yeah. budapest beautiful nighttime cruise brian, i don't know. once again, oil, i can argue both sides i have a feeling is it in the sustained up trend there are times when it doesn't respond to what it should be >> like now. down pre-market although the developments in iraq >> 90. 80 was the low we are in a different range. we're in an 80 to 120 range, brian? >> that seems to be the ckc consensus forecast currie is higher i'm like a blimp i hover and try to aggregate everything >> that should not be in your lexicon. >> i'm like a blimp. >> you are right >> i'm like a blimp. that could be ta