hayling oppenheimer as a political -- for the ages. an excelling portrayal of personal torment and cause to its subjects in the transitional struggle. and insightful narrative that -- it inspires soul-searching among political believers of every stripe. the daniel oppenheimer. [applause] >> thank you for being here today. this is really exciting and want to thank politics and prose. i think it's a right of passage for political writers in particular to do with reading here. it's exciting for me. before i get started just want to say one or two more things. one is to my wife jessica who is here today, who is sort of a part of the book in more ways than i can articulate. i tried to get at it a little bit innate knowledge meant to thank you for being here with me and being april of this but i want to say i'm back to my kids. i did know i was gone to be on tv so it is added joel and annie what i'm going to do is i'm going to give you i guess what i would call a genealogy of the book. i would get into the themes of the book some but i want

but i am pleased to introduce daniel oppenheimer with his debut "exit right". a writer ensure a documentary filmmaker whose videos have been featured in "the new york times" he discusses figures such as ronald reagan and christopher hichens ed whitaker chambers trying to reconcile the lf to the right. to celebrate daniel oppenheimer is on display on this book as a political essayist and contributes an exciting per trail of the subjects in their transition and it is insightful. >> thank you for being here today. had to be part of the book i also say hi to children i do not know i would be on tv. that what we would call the genealogy of the book. of howe comes into existence with the back story but in this case and what it is try to do. other then in the acknowledgments but to set up some of that discussion and with that conclusion of that benefit that some people think has done. in the communist party members. but isn't that comment. common and and the world in which my mom grew up in with passover and with the questions of the activities from those members of t

oppenheim was running things over there, they had a brainstorming session about how can we draw people to reno-tahoe reno industrial center in the winter months, you know, you have skiing, but the convention really aren't there and the big for the convention center, have -- they were short track olympic skating, hockey tournaments that would draw a lot of tourists from canada. you could do a lot with that, but it's never happened. and you must have heard that hey, we got to get a sheet of ice here and people say it all the time, it never happens. >> yeah, i thank you has been a lot of different plans put on the table for a number of years. we submit -- you know, myriad of different things, but the ice has always been one. we're talking about it currently within the reno event center. talking about adding ice sheet down the reno event center and bringing in a triple a hockey team. they're talking about actually in washoe county working with the city of reno to put south valley sports complex where the working with the in private/public partnership to build ice arena for the kids. but yo

david: that was chief investment officer at oppenheimer speaking earlier today.f trading just as a way here are the major averages. the dow barely moving. 10 points.about the s&p 500 down to hundreds of a percent -- half a point. ♪ ♪ this is "bloomberg markets." we go now to julie hyman. we haven't seen a lot of movement. julie: we already been an exhaustive look. i wanted to look at little bit more to we have not seen much activity. the s&p and the dow are very slightly negative, nasdaq very slightly positive. might have been one of the tightness ranges for the s&p 500 we have seen all year. continuing to seek relatively low volume. 50% below the 20 they average. let's check at some of the other assets. oil and gold, actually now going in opposite directions. oil has been rebounding what it is now lower. --d up about .e have been watching rates the 10 year yield is the lowest we've seen thus far in march. yellen'sof janet dovish commentary. eight reiteration of her dovish commentary. we have been watching the u.s. dollar as well which is showing a mixed picture

daniel oppenheimer. [applause] >>. >> this is really exciting it is a rite of passage for political writers to do a reading here. just want or two more things i want to say the key to my life who is up part of the book in more ways than i can articulate. thank you to be here with the. also high to make kids. i didn't know what would be on television. so i will give you a genealogy. and how it comes into existence but in this case it does add a baby possible to fully understand even though i don't show up but healthy there is not all i in the book except personal acknowledgements. and at the and i will read a very short passage from the conclusion that captures what i was trying to do. i discover "the national review" does the things that i have done as i discovered this morning. [laughter] so the book starts in a way with my grandparents who were schoolteachers in philadelphia. that is a fairly common story but it is said that, and more broadly it just to give you an illustration of the world of a story

i present daniel oppenheimer. [applause] >> thank you for being here today. it's really exciting and i want to thank politics and prose but i think it's a rite of passage for political writers in particular to do reading here so it's exciting for me. before get started i wanted to say one or two more thanks to one as to my wife jessica who is here today, who is sort of a part of the book in more ways than i can articulate. i tried to get added a little little bit and acknowledge immense but thank you for being here with me and being with me through all of this printer will also want to say hi to my kids. you know i was going to be on tv but i want to say hi to them. what i'm going to do is i'm going to give you i guess guess we'll have to call a genealogy of the book. i will get into the themes of the book some but i want to start with how it came into existence because it's not always the case that the book of history and politics has a useful or meaningful personal back story but i think in this case it does and it's maybe sort of impossible to fully unders

ari wald of oppenheimer.cials, what is your -- >> still in bank of america. >> what is your case for staying in with the most recent rally? >> i think it's a tradeable stock right now. bank of america for me, it's approaching that balance level. 14 1/2 in bank of america. but they're all approaching their balance levels. goldman down 13%, bank of america down 20%, if you look at all of these, you want to sell them around the 50 and the 6-1 retracement. they're all right here with the dollar. >> are you selling? >> i'm selling. >> you're going to sell? okay. >> let's listen to bill gross today. it was on your program today. >> you said it better than he did. there will be akin to the utility stocks without the yield. we don't have the dividend yield. i agree with ari's charts a hundred percent. if you get it up opening tomorrow, the next few weeks, all it will be is about lower rates. i think you can sell the u.s. banks. i think the xlf sets up well for earnings in april. fed stress test. >> do you sell them h

ari wald of oppenheimer. doesn't like the transports, in particular sell kansas city southern. >> mavis double tops around 120. from the end of 2014, end of 2015, since that time you've had a series of lower lows and lower highs. we're right up against one of those now. to me, to ari's point, 85 bucks. i mean, if you want to play things from a short side and understanding that it's difficult, but against 85 on the long side the risk owe reward sets up pretty well especially since the iyt is moving up against the trend line. >> i agree with the iyt. to me these guys set up under a lot of the criteria that ari just mentioned they are below for the most part their 2014 october lows and they are still in massive trends have had big bounces. ones i look to put out. >> like risk reversal. >> i mean, this is fun. >> they should do a show about those things. >> when you talk about options strategy and stuff, kick it around. do you have a show like that? >> yes, you do. the one concern i would have talk about shorting

day is the favorite but oppenheim in orlando is making a cinderella run. check out this approach from the a four-time all american, what a shot that was, needing some wind, but it doesn't happen. a veteran of smaller tours he made the p.g.a. this year. he is tied for 13th at the arnold palmer. ping caught up to him as well. >> ping: you have to live out the dream, where you played college government and you are playing here. >> very special, to be here and stay at home and sleep in my own bed and play at a p.g.a. tour event, couldn't ask for anything more. pittsburgh if you are looking to pull for tomorrow, this young man, special exemption, i'm hoping you shoot like 59. >> i'll take it, anything in the 6 tease. >> jamie: there is the leader board heading to tomorrow jay dan day two shot lead, and the weather cooperates and we have another great round of hi, guys! and you know what that means! easter is hopping along. so, if you're looking to stretch your dollar this easter holiday, just look at these savings at your local walmart. in head-to-head shopping

and ira jersey of oppenheimer capital. ♪ hey how's it going, hotcakes? hotcakes. place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. when it comes to the fithings you love,. you want more. love romance? get lost in every embrace. into sports? follow every pitch, every play and every win. change the way you experience tv with x1 from xfinity. tom: our event coverage this afternoon, good afternoon. michael mckee, scarlet fu, and myself. let's take a look at the data. it's been a quiet day. that could change suddenly. nonexclusive -- nymex crude with a lift today. the two-year yield looking at 0.98. we are seeing the yield left, without question. dollar index, i will wat

oppenheimer blue isn't a code word. it's the largest diamond ever to be sold at auction. robert frank will tell us how much it's expected to fetch. first, the squawk market master and frequent guest on the show is passing the torch. sounds like someone died or something. no, he's just passing the torch. we'll tell you who's stepping down next. as we head to break, a look at yesterday's s&p 500 winners and losers. sents the yardley's. sfx: leaf blower dad! sorry. spring is on. start your trugreen lawn plan today. trugreen. live life outside. at ally bank, no branches equals great rates. it's a fact. kind of like grandkids equals free tech support. oh, look at you, so great to see you! none of this works. come on in. in new york state, we believe tomorrow starts today. all across the state, the economy is growing, with creative new business incentives, the lowest taxes in decades, and new infrastructure for a new generation attracting the talent and companies of tomorrow. like in rochester, with world-class botox. and in buffalo, where medicine meets the future. let us help

from, it's jason oppenheimer. he has taken his price target down.d revenues by 4%. he believes amazon will reduce in the face of competitive pressures from google. this is the reason the stock is the worst point greg and the nasdaq this year. it's down 20%. is atabigail doolittle the nasdaq. we are an hour away from the apple event. willie the smaller iphone have a smaller price tag? we will have a preview. vonnie: live from new york and london, i am vonnie quinn. we are more than an hour away from the big apple event in cupertino. they will unveil a smaller version of the iphone and an upgraded ipad. the big question remains will a smaller phone mean greater growth? let's ask the program director for idt. he joins us from boston. a smaller event, does apple anticipate great success? ryan: i think it's interesting. they are starting to look at other opportunities of growth. they have done this in the past. some of starting to see the mature markets like north america and pockets of western europe see strong growth. these are some $400. it's the low

joining us now -- still with us with oppenheimer from -- oppenheimer funds.came out in full force. >> they are going to want to emphasize stability. these tend to be fairly choreographed. >> they obviously haven't confirmed it. they went to a state enterprise and said by large-cap stocks. to figure out what is going on off of the chinese equity markets is kind of a lost cause. we have all given up. some indications from an economic activity teedo we can .ap -- we can gather the news on both of those is actually quite good. they have made really good commit since that they are not -- and presumably the global equity markets. >> a lot of people call it the pick a number, any number convention. seriously, do you focus on that? >> about the veracity of the gdp numbers, most people say directionally them numbers -- gdp has a unique problem. other indicators are seen as more or less credible. open.l also keep our ears a week from today governor joe will give a press conference. it can be freewheeling. >> more important is how they plan on getting there. particularl

this important person was owned by philip oppenheimer. his family-owned beers.tsied state in the family. now they are bringing it to auction. give us a sense of the actual price point here. there may be hope sick smash the record of $48.5 million. the actual price they could achieve is a little bit lower. >> you do not ever want to be overly optimistic. then if you meet at dictation, exciting, when if in reality it meets expectations and in reality it is a very high number. verynk they are being conservative based on the material they have. >> i can understand you buy a painting. hang that on the wall. something folks display? who is buying them? >> there has been a huge interest in asia recently for colored gems. i guess you can find occasions .here $45 million diamonds i could not maybe. maybe you could. sense of what others are selling. a shirleyelling temple manner. >> sotheby's blue diamond, which has a similar parity and color saturation is offered at $35 million. it is smaller. this is important to some people. this will be offered much sooner than that.

oppenheimer saying that tesla is progressing well toward critical milestones. mark: thank you.head, oil extending its gains from a three-month high, closing above the $40 level yesterday, will be rebound last? ♪ ♪ mark: live from london and new york, i am mark barton did a bloomberg inclusive, john patrick hurricane spoke to us on his banks recovery and ecb's latest monetary policy strategy. >> he is trying to ensure that liquidity is an extensive. best inexpensive. -- inexpensive and encourage banks to lend and consumers to borrow as a lower rate. this is about making sure that liquidity is not an impediment to european growth. >> has to it changed your thinking on what you will do with your business? >> not a bounty bank of cyprus -- not about the bank of cyprus. the economy is beginning to recover, our story is that the periphery of europe. this is about just trying to ensure that the european central banks monetary policy contribution is positive that is positive to the potential for europe. get therying to transmission mechanism to work, is he addressing the right points?

it was after the oppenheimer trial were oppenheim or lost his security click. seaborg did want to go through that again. with shapiro they fall back and forth between the aec and the justice department and independent aec found him a job when he didn't need his security cleared and paid $10,000 a year more than what he was taking and because the house at westinghouse where he spent the rest of most of his crew. back in 1971, they bought numec from atlantic richfield company. they stop operations in 78 at the plant was decommissioned to return to greenfield by 1992, but it had a waste disposal site a few miles away that is on the subject of a superfund cleanup by the united states government to the tune of $400 million, organized by the corps of engineers and the costs are being negotiated by the justice department. okay, that's the story of numec. go back to the audit in 1965, 178 kilograms that was missing. 94 kilograms unexplained. the nrc historians recorded that as six atomic bombs. maybe a little more. there was no fbi investigation of the fact, the allege

we're joined by christian, chief investment officer at oppenheimer funds, welcome, thanks for joining us. you were at janet yellen's speech, is there anything that changed the way you are investing or approaching? >> she was the most dovish that to be.ever heard her she was talking about what they're going to do in terms of easing. they are really worried that if people in europe and japan ease policy, the dollar would depreciation unless they do something about it. in addition, she was, she said there are lots and lots of things that the fed can do and they're going to be very, very gradual. most dovish i have ever heard her. matt: all of the other fed governors are sounding hawkish, or a lot of them were, what's the deal with the fed? is the federal open mouth committee in full effect or do they just have different opinions and share them? >> i think again, nobody knows for sure, but i think part of it is giving them an opportunity to voice their opinion. however, the policy is being driven by janet yellen and the dovish crew. lisa: you said that jeanette yellen was the most dovish

oppenheimer -- good call.graded outperform from market perform. $300 target on the stock. not an abercrombie up side. the analyst cites a few things, older cars on the road, driving more miles, conditions of the roads. and also the fact that because gas prices lower income consumers have more money to spend to try to fix back up their cars. they like o'reilly automotive. >> you know how old the average car is out there now in. >> 11 years. >> 11 1/2 years. that's a record high. that's unbelievable. >> i -- my car, my daily drive is six years old. i have a car 14 years old. have you seen the roads? they're so bad. why would anybody buy a new car around here. get it beaten. >> next up -- >> i don't have any passion about that issue. >> mixed fiscal fourth quarter, earning report last night. had a billings miss and faced tough comparisons, solid guidance reflects confidence in the business. it is trading near the middle and good cash flow, expansion remains -- cash low expansion remains a sector weight. they're s

robert oppenheimer, worked out the first modern calculation of a back hole. it is -- black hole. it is accurate to this day according to cal tech theirist kip thorn. 1939. unfortunately, it came out on september 1, 1939. that was the day that hitler marched into germany. -- i mean poland. sorry. thank you. >> before you say sign stain -- einstein that it he used of a black home. he presented the paper at the academy. >> he did but they weren't at -- he was happy with the full solution, and he was not concerned about that little math mat tall thing but other people started talking about and it he felt he had to step in and answer, and in -- after j. oppenheimer wrote his paper, the first modern description of a black hole, week later einstein had a person in the annals of mathematics in which he proved that such a singularity, as it was called could not possibly exist. and historians over science have called thus einstein's worst scientific paper. he used a lot of hand-waving and bad physics to try to talk away the fact that gravity, at a certain point gravity becomes strongest fo

oppenheimer also going the other way, saying investors are likely to be underwhelmed by the next several events. with that said, if you look at my bloomberg terminal right here, behind me, basically analysts are still very, very bullish on the stock. the green here represents the buy calls, the yellow represents the holds and the red represents the cells -- sells. you can see the price target here is stillwell above the actual stock price for apple. so it's interesting to see that analysts, despite what's happening with apple, despite the iphone sales potentially dropping, analysts are still very, very bullish. emily: thank you so much for that update. we will of course bring you all the details from apple's product event on monday with special coverage starting at 1:00 p.m. new york time, 10:00 a.m. here in san francisco. as the event kicks off. the tech industry is getting more vocal about social issues, with the c.e.o.'s of intel, twitter and yelp among those calling for georgia governor to veto a controversial bill. it would allow businesses in the state to deny not only employment b

i had a chance to speak to an analyst over at oppenheim about "power lunch" and we asked him, look, is there anything in your model, financial model for your company, you know, maybe provisions or reserves for lawsuits, and he said, no. it's not -- it's not in the model right now which is -- i think that's kind of scary for a company that's seeing double digit sales declines at this point. >> well, you look -- herb was talking about this, and we've had whitney talk about it. when you have a stock that's lost 90% of its value, it's very aggress i have to say i'm going to reshort it now and shoot for what's left in the bucket right now so i think it's very risky to do because you run the risk of anything slightly positive although we haven't seen anything, slightly positive moving the needle and allowing you to pull that short back and lose men very quickly. >> does this make you believe his case even more, because he's willing to do that when the risk/reward is not very apparent. >> i think in this tape, look, you know, good returns are a scarcity, right, so if you're a portfolio manage

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michael oppenheimer had about 500 clients and almost $90 million under management but got so deeply int that according to his lawyer, even his bookie expressed sympathy for him. we just got some breaking news coming through from credit agricole. they are talking about their , targeting the year a capital ratio of 16% by 2019. they are talking about their full-year net performance at $4.2 billion. the full-year target for the net infit is about $4.2 billion 2019. a series of targets coming through from the bank. they see annual sales growth above 3% at their savings management unit in their setting out the goals for annual cost savings. 900 million euros in annual cost saving. the ceo took over in may. he's trying to make the business key growing in its main european markets even as the sluggish economies and low interest rates can strain of ask profitability. we talked about negative interest rates. elementy a very french to this business. let's talk about what's happening elsewhere. we have some numbers coming through from the german energy space. yesterday'sm rwe in session. posted t

ari wald of oppenheimer. now we're going to play would you rather. >> i love this game. >> ari's biotech trade or semiconductor trade, as brian aptly points out, one is a very short-term trade and the other one is sort of on a breakout. >> semiconductorses, definitely would rather and intel to mesa classic example of where you can actually be defensive in this market, okay. a company that's now 15% off those lows and to me despite everyone knows what the pressers are in pc these guys absolutely have some clear moats around their business. the ecosystem computer data system is lumping and something around 31, again, a key level on the stock market. i want to see this thing hold 35 and if it breaks through there. i think we are in this trend. >> pit boss sns. >> i'm bullish on tech which means i think you have to be bushel on chips. i like apple. watched the great move out of apple, a lot have traded or apple moving up to 100 or even 105, sirrous logic, intel real stands out. the one thing i would say about bio

and that's followed at 11 with daniel oppenheimer. he examines six political personalities who changed their ideological allegiances from the left to the right. that all happens tonight on c-span2's booktv. >> every day books are reviewed by publications throughout the country. here's a look at some recently-reviewed books. washington post columnist e.j. dionne's look at the state of the republican party was reviewed in the los angeles times by michael boblian. he writes that mr. dionne identifies john boehner as the latest in a long series of republicans transformed from conservative hero to villain and notes that other than ronald reagan, who has been spared this fate despite compromising with democrats on taxes and nearly tripling the national deficit, almost every major republican figure has suffered boehner's fate since the 1960s. sonya shaw's history of pandemics over the past 5 year 0 years was review -- 50 years was reviewed in scientific american. ms. shaw shows how political and practical factors such as city crowding and la

funds up, oppenheimer will give us a view of the u.s. economy. onhave the jobs report friday.omberg "surveillance." this is stay with us. tom: job stay on friday. we will give you global news with our first word news. suicide bombing in pakistan has targeted christians celebrating easter. the attack was in a park. 300 were wounded. an offshoot of the taliban says it's responsible. the prime minister has called for a united fight against terrorism. in syria, there is a defeat. syrian troops have recaptured almira. -- how myra. police and belgium conducted multiple raids over the weekend. they arrested at least nine people. they are trying to find out more about last week's terrorist attack in brussels. there were arrests in the netherlands and italy linked to terrorism. puerto rico's elegant to contrast is objecting to a bill debt crisis. it calls for aboard the would hire experts to help them restructure $70 billion in debt. officials don't want to hand over control to the panel. they are pushing something to bankruptcy protection. sisi has nothing to with a story alleging ted

all of this as oppenheimer coming out what the company appears to be progressing well, two critical milestonesthe positive cash flows this year the real story is the big turnaround that this stock has made this year off the low sharply and a huge bull and bear battle over last year. the moving average could be the tale above that. the buyers may be back in control. another stock trading even more sharply lower on the day is basel. nalysts say that the 10 he k reveals headwinds for the company including rising inventorys and accounts payable. he lowered his estimates and it's $34 adjusting that fossil may drop the lows. >> thanks, abigail. more "bloomberg markets" ahead. hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi

the single most important scientific figure in the manhattan project, more important at oppenheimer, his friend -- initially his friend, later his bitter enemy and continue the process after the war by promoting thermonuclear weapons. so that is part of the nuance of his career. he started off as a great scientific euro and ended up at the rail shadow. >> in preparation for this i read back over eisenhower speech. if you haven't done it recently, you should. not only because of the mornings, but also because it is less a speech about the military more about science. it is a speech about big science. >> that is true. amazingly if you've read it today, you say this is the world we live in. what he was talking about was a threat to science and scientists in academia from this incursion of big money and the influence of the military and industry and what really should be a straightforward search for the truth. >> last thing i want to ask you about. in your book, a small section you redeem harleigh stassen. >> he passed away not long ago, ran for president nine or 10 times and became some

approach it would be a book that had legs and would stick around for a while and tell great considers, oppenheimer, fritz wicky. karl schwartz, einstein himself. and leading up into the modern era where we have the discovery of gravity waves which was the absolute first direct proof that black holes exist. finally got it last year. the 100th anniversary of general relativity. so that was the icing on the cake. i got squeak that into the paperback which is coming out. >> tom, can you telephone us about the kind of a genesis of your book, the germ of it. >> most of my projects are derived -- take a long time to gestate. i'm work on something, find out a stray thing and it bugs me but anytime the mid of something else and in the case i was -- back in the '90 sunday worked on a-hour nova film biography of einstein, and then marcia made references to the books and we have each written. i broke a book called einstein in berlin," and i worked hard to understand general relativity. that was his greatest scientific accomplishment during this berlin years. and what struck me is a was doing this, i was going

it was after oppenheim or trial when he lost his security clearance, seaborg did want to go through that again. with shapiro, they fought back and forth between the aec and the justice department and independent aec found in the job we did need a security clearance and pay $10,000 a year more than what he was making and he took a job at westinghouse which is that most of the rest of his career. in 1971 babcock and wilcox company, the people who designed three mile island by the way, bob numec from atlantic ridgefield company. the stock operations in 78 at the plant was decommissioned and return to greenfield by 1992 but it had a waste disposal site a few miles away that is that the subject of a superfund cleanup by the united states government to the tune of $400 million, organized by the corps of engineers, and the costs are being negotiated by the justice department. okay. that's the story of numec. go back to the audit in 1965. the 178 kilograms that was missing, 94 kilograms unexplained. the nrc historians recorded that as six atomic bombs, maybe a little more. there was no fbi inves

we have the oppenheimer funds chief investment officer and art hogan the chief market strategy.e volumes here are really light. yesterday and the day before, i think the lightest volumes of the day. leading to the "journal" to ask if no one trades, is it really a rally? how would you answer that? >> simon, i think it was monday and tuesday in front of the fed meeting we had the two slowest days of the year. you're correct. that question always amuses me, if you want to sell the s&p 500, you can sell it for where it's trading. if you think we're overdone here, overbought, that's the price you will get. we would love to see more volume, but on weeks like this when we're wait and see what will the fed do, what kind of surprises do we get in the stateme statement, will they be more dovish, volumes are lower. now we will get into a trading pattern where we focus on fundament fundamentals, not just oil and the fed. when you talk about volumes in general, they have been off a bit for the last two months, not just the last week. >> i think the broader -- you make reference to it, just t

joining us to discuss it, the chief investment officer for oppenheimer funds and bernie williams, gentlemenlcome, good to have you with us. let me start with you. what changed on the 11th of february. it a dog whistle go off somewhere that none of us heard, but everybody did. >> so we were dealing with three separate issues, china, risks of a recession and troubles in the credit market related to commodities and oil. and we have gotten a breather on all three of them. they're manning on easing, oil rebounded and trade markets are rallying as well. so i think all around things have stabilized. it was never that bad to begin with. and we are recovering from a sharp loss. >> why did the narrative suddenly change there? you pointed out what happened in those particular markets or in china, why did the narrative turn? >> i that i that's a really good question. in my mind, primarily driven by what the market expected the fed to be doing. which is in a slowing economy, you tighten everywhere else in the world you have problems, you have tighter policy in the u.s., you may end up with a recession.

alongside stephanie ruhle and david weston could we are joined by ashland and its chief economist at oppenheimerprogram. look at the correlation with crude and stocks. we have been talking about this for days and weeks if not months and when it will finally break down. when does it in your mind? >> it's a puzzle because it's supposed to go the other way. higher capital return should mean higher stocks, so it's going the wrong direction. i think this is holdover from 2008. we are haunted by the ghosts of 2008 and you are getting close to this a few minutes ago, but there is concerned that if collateral oil in the ground is not worth as much, is that going to show financial weakness or financial trouble someplace else? until we get through just to is in serious financial trouble and who is going out of business and what the bank results are from this fall, it's not in the value. it's not in the fall of the price of gasoline but the decline of collateral. that is where this will shake out. we are buying a lot of cars. matt is telling us how we are buying all these cars. companies should be able to

oppenheimer funds portfolio manager is here to help us to he is a big column out today.s go to matt for market check. matt: first, the euro and a german two-year. that was recommended. here is that euro, big move, down 1.5%, as the policy divergence is highlighted. look at the german to you see that yield shoot up. it looks like investors are selling out. we do not have that. go ahead and look at my terminal. newve my gmm screen, a bloomberg function. gmm go. i have chosen western europe, to look at a basket of equities and sovereign bonds. amazing moves here. euro stock up 3.5%. the cac up. belgian up. look at the sovereign bond. here is with the biggest moves are tiered what it is showing me is the biggest moves away from the 90-day mean. we are seeing a massive leap in debt with ther yield down 16 basis points, 1.39. the massive leap in an italian 10-year that. a massive leap in irish 10-year debt. the weakest countries are getting bought up the fastest. .dx shows you corporate debt i will take it to european to see which bonds are getting bought up. the weakest playe

oppenheimer, the father of the nuclear bomb, was asked at about what ags terrorist would need to builduclear weapon. he said a screwdriver. meaning if you could get the material, you could put together a crude nuclear weapon. the trick is to stop them from getting the stuff that forms the core of the bomb here they cannot make it themselves but if they could get it, they have gone most of the way toward making a nuclear bomb. a well-organized group like isis, a terrorist threat we have never seen before, a rich group with global networks that controls territory, if they had the material, they could almost assuredly make a crude nuclear device that could blow up a major urban area. are they interested in this? yes they are. we know they are trying to acquire this. an event last week that send a chill down the spines of nuclear experts everywhere was the same bombers, the the isis bombers who attacked the brussels airport and metro station, has been videotaping a nuclear official working on a belgians facility with radiological materials. not the stuff of a nuclear bomb but the stuff you