david: phil flynn, thank you. melissa. melissa: as we told you stocks getting spooked by trade and back and forth between china. u.s. revealing $200 billion more tariffs on chinese imports. china looking to hit back hard. ed lawrence is live in d.c. with the latest. reporter: you saw as we enter a new phase with the trade dispute in china. the u.s. trait representatives's office started process of adding tariffs on $200 billion worth of chinese good coming into the united states. the tariffs could go in effect august 30th, when the process ask complete. talking about tariffs possibly 6,000 items or more. those include carpets and bicycle parts, refrigerators and agriculture. senior administration officials saying china has been non-responsive when it comes to trade negotiations. in fact those officials say, china actually told the administration that they don't see any harm in the u.s. economy with the way things are currently situated. now some members about congress and republican members of congress supporting the presi

there is phil flynn. president trump says we'll compete soon with russia in supplying energy to europe. your take on that, the rest of the selloff in oil in. >> i think they already are right right you now. that is one of the things in the press conference. president putin said hey, we can collude on oil prices. we're on the same side of this trade. we're both big consumers, or at least work together. more prices that go too high are too bad are too bad, too low are too bad for both of their countries. this was perception of a lot more oil coming on the market we didn't think we would have on couple days ago. the u.s. looking to the strategic petroleum reserve to raise production that came late on friday. today in the journal, we had international energy agency reporting they may raise oil from the reserve. at same time you had reports of opec production rising dramatically in iraq. gold slept through the whole thing, down slightly. back to you. connell: thank you, phil flynn. melissa: another high-stakes

to phil flynn what he makes of that. phil, what do you think?think that the old saying is, can you drill yourself to energy independence, neil? you can't tweet yourself to energy independence either. so apparently it didn't work. i think the reason is, is because the market is starting to realize, saudi arabia didn't commit to raising production by two million barrels. if there was a strong commitment by saudi arabia, we probably would have seen the price of oil go down a couple dollars a barrel. but even if they did commit to that increase of two million barrels, neil, it would only be a short-term fix because the real reason why oil prices is rising is strong global demand. we've got global demand on the cusp of hitting over 100 million barrels of oil a day here in the u.s. we're demanding more oil than we ever had before. to be honest with you, increase in price was actually moderating demand. if we lowered prices artificially by getting saudis to raise production for a short-term situation it would only help us in the short run, demand would

phil flynn, oil analyst extraordinaire.ve more coming up including what could be happening tomorrow. ♪ ♪ let your perfect drive come together at the lincoln summer invitation sales event. get 0% apr on select 2018 lincoln models plus $1,000 bonus cash. with tripadvisor, finding your perfect hotel at the lowest price... is as easy as dates, deals, done! simply enter your destination and dates... and see all the hotels for your stay! tripadvisor searches over 200 booking sites... to show you the lowest prices... so you can get the best deal on the right hotel for you. dates, deals, done! tripadvisor. visit tripadvisor.com at&t provides edge-to-edge intelligence, covering virtually every part of your healthcare business. so that if she has a heart problem & the staff needs to know, they will & they'll drop everything can you take a look at her vitals? & share the data with other specialists yeah, i'm looking at them now. & they'll drop everything hey. & take care of this baby yeah, that procedure seems right. & that one too. a

let's ask phil flynn. crude oil is acting weird.ls like they were supposed to -- they were going to increase production. opec was going to lowter price. it's been sky rocketing. >> it has been. i'll tell you what, it's sky rocketing mainly because of good things. the global economy has been on fire. you mentioned the manufacturing data that we saw this week. it was incredible. the u.s. economy, if you measure it in miles per gallon, is doing better than it has in many years. that's reflected in high prices. not everybody likes the prices going up. gasoline prices. president trump, of course, is very upset about this. he tweeted to opec, hey, you have to do something about this. saudi arabia has agreed to do something about it. the question is can they do enough to really stem what has been an incredible demand-driven rally. >> charles: to your point, we had this conversation about president trump meeting vladimir putin. some think one of the key issues, can russia produce more oil? the magic number is north of $3 a gallon that has p

phil flynn watching action in oil and gold from the cme. nicole petallides on floor of new york stock exchange. nicole, start with you. talk to me about the trade. >> tariffs and trade, and also jobs. tariffs, jobs. we went back and forth, everybody is talking about those two topics. looks like leaning towards a jobs report which was a perfect report. we had 213,000 jobs added more than expected. unemployment went up, because 600,000 people entered the workforce. they are looking for jobs. with that, that really brought optimism. manufacturing numbers boosted optimism. dow, nasdaq, s&p moved to the upside snapping a three week losing streak. we're watching trade related stocks which have been under pressure. you can see today, different picture. it was up arrows across the board. no one seemed to be worried at all $34 billion tit-for-tat duties put in place between china. apple off the all-time high of 194 and change. nvidia as a winner. markets as i noted it was winning week on wall street. s&p and nasdaq snapped a recent losing streak of

phil flynn is watching action from the oil and gold from the c me, and nicole petallides on the floor of the new york stock exchange. nicole there was a hiccup after the fed notes came down from triple digits down to double-digits but when they came back up again. nicole: we saw the volatility because you saw the s&p and nasdac move to session highs the dow got close to section highs that hit prior in the 1:00 hour, 197 versus just over 190, so it did have this big jump, and then pulled back and as they start to decipher through the minutes, plus you have lighter volume on this type of week but the big picture is this mixed bag out of the federal open market committee somewhat feds speak, i mean you have them talking about inflation, you're seeing wage growth and we'll watch for that tomorrow and in particular for the jobs report, but at the same time really expressing that uncertainty pertaining to trade so that sort of spooked the markets a little bit at the same time taking a look at the dow movers unitessed health, johnson & johnson, apple and caterpillar in fact 28 of the 30 memb

cheryl: you know what, phil flynn?is just mentioned this because every time i see a rally in oil from data, i think is president trump going to tweet that he just picked up the phone to the saudi cans again to increase production, he's so worried about the consumer and gas prices, he doesn't want to see that happen in this country. >> i think he does especially with leases not going up as much as we would like. but, you know, in a weird way that wage is not going up too fast might be a good thing because the fed is not going to be scared about inflation and allow the economy to start growing a little bit. i agree, i think this was one of the best jobs reports i can remember in at least a decade. all the pieces are in place for a strong economy. president trump has to get some credit, and i think that's one of the reasons why the stock market is giving him the benefit of the doubt on this trade war, because what we are seeing he is doing is working. especially manufacturing. you look at those jobs numbers today, and you

phil flynn watching action from the floor on gold and nicole petallides from floor of new york stock exchange. nicole, to you first. >> the dow is up 57 points. with the dow, nasdaq and s&p, and nasdaq all-time high, we continue upward trend last three or four days. mostly winners, with johnson & johnson and dupont and united technologies leading the way. what is interesting about tech after the bell we were focusing on netflix number. we didn't see subscriber growth and add-ons they aren'ted for this quarter and going forward, that spooked investors. the stock closed the prior day at 400 bucks, dropped more than $50 in netflix. that changed tech titans. facebook, alphabet, google managed to move higher, they are all at records, hit all-time highs throughout the day, amazon, facebook, google, microsoft. when we feature netflix. is came off the lows of the day but still down 21 bucks. so worries are there. most still think it's a great growth story going forward. we had late-breaking news on twitter according to the associated press. first of all in may and june, they acknowledged the

phil flynn watching action in oil and gold from the cme. nicole petallides on floor of new york stock exchange. nicole about at session lows now. >> we absolutely were. we're down 146 points. we're not too far off the levels. we started to come back. look we're back in the red. you mentioned some laggards. some names pulled it out like ibm and disney. market breadth was down snapping that recent winning streak. we kept a keen eye on president donald trump and comment he made in an interview where he said hoped the federal reserve would stop raising interest rates. that is unusual for a president to actually comment on what the fed's actions would be. keeping monetary policy somewhat easy continues to spur this economic growth. where they continue to raise rates, even if they do it rapidly, that could quell some of the growth we've seen in our economy, tame inflation. very interesting. that certainly moved the markets to a certain extent. brought us up off the lows and we moved back down. here are the laggards. you mentioned american express

phil flynn, we have to talk oil.s kind of strange deal over the weekend where we had the president say, look, i've spoken to the saudi, the king of saudi arabia, he says, yeah, we can hike our oil production up maybe by as much as two million -- two million barrels a day to pick up the shortfall from iran, and then he backtracked. i'm having a hard time trying to keep up with it all. what does the oil market make of that? >> you know, i think they're taking it somewhat seriously that they're going to get more oil. ashley: yeah. >> we've not necessarily seen it so much here in the u.s., but if you look at the price of brent crude today, it was down over $2 a barrel. and some to have spreads that we've been seeing have been going wild today. so apparently, it's true. you can tweet yourself to oil independence. [laughter] or you could tweet yourself or to get opec to move to produce more oil. but believe it or not, i think this is the worst thing that donald trump could do right now. you don't want opec raising producti

phil flynn watching all the action in oil and gold from the cme nicole petallides on floor of the new york stock exchange. nicole, first to you. >> five days, 500 dow points. not bad, right? we will take about 100 a day. we're up 1/3 of 1% on the dow jones industrial average. that is five days in a row. the s&p 500 up two days in a row. moving to five-month. nasdaq with up arrows. when we look at dow leaders, see industrials there, we heard from the fed head. people still talking about tariffs and trade. i will tell you that we did see industrials do well today. caterpillar, boeing, unitedhealth helped to lead the way. american express, we're awaiting those earnings. and then we'll take a look at bowing in particular. break this one down. this is up almost 1%. doesn't hurt when you pick up $3.9 billion contract to deliver air force one planes. this is big deal for the contract. the white house says it will save you the taxpayer, plenty of money. $1.4 billion. when we talk about the nasdaq which has been running up with those tech stocks, most are hitting all-time highs once again. eve

phil flynn is watching the action in oil and gold from the cme. nicole petallides on floor of new york stock exchange. nicole, what caused a turn around? >> volatility was the name of this game here. i won't even call it a fame. that is what we've been seeing over the last month or so, every headline for trade. we did see technology help to bring nasdaq first into the green. the dow is down over 190 points. look at swing here today, moving into positive territory right here at the very end, to give folks a green arrow today up 33 points. nasdaq started whole thing, that was up 3/4 of 1%. look at "fang" stocks and technologies stocks helped to lead the way. netflix, facebook up more than 1% each. apple, microsoft, being leaders on dow jones industrial average. tesla, that was a big mover, $35 swing. analysts are skeptical. elon musk is touting 5,000 a week, we did it. profitability is coming. the shorts are still out there. in fact 27% of the shares available were sold short. so $2 billion lost in the months of june on tesla. volatile stock. finish

ashley: right phil flynn also at the cme. we like to talk oil, i thought oil was coming down as more produce producers were picking up the slack from the sanctioned iranian oil but now we're back above $70. >> we sure are and today with the oil market a lot had to do with the expiration of the contract because right now there's not a lot of oil to deliver that's how tight this market is. cushing, oklahoma supplies are at the lowest level we've seen probably in over 20 years and that really drove that market up but getting back to the grains too the other thing you have to blame on the grain market is this dollar. we talk about the trump tweets and the trade war killing the price of gains. a lot of it has to do with a very strong dollar which president trump came out against , and part of it is really the farmers being very good at growing crops. they're growing an incredible crop and at the end of the day, i don't care trade war or no trade war, people are going to eiten china, trust me. u.s. exports surged last week on the l

phil flynn with commodities out in chicago. nicole petallides as usual on the floor of the new york stock exchange. we start nicole with you. >> connell, melissa, we see dow at seg lows, tune of half a percent loss for the dow. nasdaq worst of the bunch again. i will get to the fang and tech story over all because it is a really big one. for the dow, nasdaq, s&p is to the upside. big picture earnings have been good news. we're actually seeing the growth of 23.2% year-over-year growth. that surpasses the analyst estimates but i will get right to the tech stocks. really the tech and the russell have investors concerned. we talked to dennis gartman on fox business. he talks about the fannings being defanged. netflix gapped lower. facebook gapped lower, and all the people we speak to on a regular basis, scott red letter and raymond james, you have to watch the selling. as we see fangs entering into correction territory this is where everybody is watching. apple is so key tomorrow. let's pull up apple because everybody will be watch

phil flynn watching oil and goal from the cme. nicole petallides from the floor of the new york stock exchange. nicole, start with you. >> what a week. i feel we had so many headlines. it wasn't just tariffs and trade. it was trump in helsinki an trump tweets and earnings we had. how many interest rate hikes are happening going forward. we see the dow squeeze out a gain. i'm talking about for the week. i'll tell you all about financials. we're down six. the s&p dropped just fractionally, down two. microsoft was a he had lear. moves to all-time new high. we were talking about microsoft. azure cloud, 89% growth. office 365, 13% growth. you know what? the analysts are loving it. they're still pumping up price targets, 120, 130. we're seeing a slew of them. it moved to a new record and helped turn the dow around. general electric is a dud. down 21% this year. questions about the full-year outlook. the stock dropped 4 1/2%. the ceo talking about china tariffs and numbers it will be hurt. talking about the week, i am talking about squee

joining us now phil flynn. what does this trade battle fine for oil, where does it go from here?iggest concern is if we have the big trade war would it slow down economic growth and slow down demand, and as you can see by the price of oil, little impact. this comes even as china has threatened to put 25% tariff on u.s.-crude import which amounts to about 400,000-barrels of u.s. crude a day, about a billion dollars a month, already chinese refiner are looking for alternatives to u.s. crude. and let's face it. the u.s. crude industry in china is just beginning, this is just a small part of what u.s. exporters hoped to see as major market for them and obviously this is going to slow things down a bit but at the end to have day, oil commodity and with the global economy consuming near record amounts of crude oil i don't think it'll slow things down that much. >> phil, this is kristina partsinevelos speaking, i know you're speaking positive right now, there have been reports about spare capacity around the globe that's not going to be able to fulfill demand? >> you're absolutely right

our phil flynn, charles, as you know, has been trumpeting the notion with the economy humming along, we are really consuming a lot more oil, demand is up and doesn't know if there's enough supply out there to do it, even though we thought we were a wash in oil and our folks in the u.s. are doing more than their share. if you got a job and got money, you can afford higher gas prices. charles. charles: sometimes not the worst thing in the world. again, if it's for the right reasons because of demand and not opec. always great talking to you. >>> president trump about to arrive at this meeting with the other nato leaders, in the meantime just tweeting -- . >>> pfizer putting price hikes on hold after pressure from the white house. question is will other companies follow? we've got the latest right after this. ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. . charles: we're getting more details about president trump

phil flynn keep saying oil prices will go up, so gas prices are too.a job, you have money in your pocket, can afford to buy gas. that is a good thing. that is where a lot of people are. stuart: $3 gas compared to a few years ago is still cheap gas any way you slice it. that is a fact. jeff, thanks for joining us. thanks. >>> the trump administration missing a judge's deadline to reunite young migrant children with their parents. what happens now? judge napolitano coming up on that one. >>> the man on your screen is, there he is, shortly, there he is, he is running against congresswoman maxine waters this november. he joins us next. i will ask him, how do you unsight someone who has been in congress for nearly 30 years? and that, we did it again, we like to show you scenes from around the country, and again, we've gone to los angeles to show you some traffic. we'll be back. ♪ y. we've got aging roadways, aging power grids, ...aging everything. we also have the age-old problem of bias in the workplace. really... never heard of it. the question is... who'