we'll talk about some of the names that pippa just mentioned over my left shoulder there because gaylelson likes them, a senior research analyst at stevens who covers energy welcome. it's good to have you with us. let me begin with an offbeat question and maybe sort of a prickly one. can you automatically rule out a conventional energy company, a fossil fuel company, from being environmentally responsible and thereby qualifying as an esg investment what do you say? >> well, i covered the oil and gas industry -- >> i know, that's why i ask you. >> so i actually do think the conventional energy can also be considered esg friendly. companies are making a more strident effort to reduce their greenhouse gas emissions, and some of the natural gas companies even have targets being net carbon neutral by 2025 i know that it's painted with a really negative brush. people look at oil and gas as a dirty energy source, but in the united states, we are one of the cleaner traditional producers of oil and gas in the globe, and our producers, operators in the united states, continue to make efforts to

back at newmarket holidays, pippa is one of the government's great hopes.r support into the summer, pippa was straight off the furlough scheme, back into herjob, prepping the new travel brochure. the travel industry in particular is on its knees, and without that cash injection from the government, i don't know where we would be. so, i certainly think that i wouldn't probably have a job. the latest figures show, however, that an increasing proportion of those left on furlough are older workers. there is a fear about how many won't be able to step back into theirjobs. faisal islam, bbc news. nissan has announced a major expansion of electric vehicle production at its car plant in sunderland, which will create more than 1,600 newjobs. the japanese car—maker says it will build its new—generation all—electric model there using batteries made on site. our business editor simonjack has more. these are the new engines of the world automotive economy. a new battery factory will make 100,000 of them, to be fitted to a brand—new model at a plant supplied by its own r

back at newmarket holidays, pippa is one of the government's great hopes.support into the summer, pippa was straight off the furlough scheme, back into herjob, prepping the new travel brochure. the travel industry in particular is on its knees and without that cash injection from the government, i don't know where we would be. so i certainly think that i wouldn't probably have a job. the latest figures show, however, that an increasing proportion of those left on furlough are older workers. there is a fear about how many won't be able to step back into theirjobs. faisal islam, bbc news. nissan has announced a major expansion of electric vehicle production at its car plant in sunderland which will create more than 1,600 newjobs. the japanese car—maker says it will build its new—generation all—electric model at the site. our business editor simonjack has more. these are the new engines of the world automotive economy. a new battery factory will make 100,000 of them, to be fitted to a brand—new model, at a plant supplied by its own renewable energy grid. a £1

let's go to pippa stevens at the cnbc commodity desk. >> hey, that's right the pop for crude came duringe morning trading and it's managed to hold on to those gains. wti finishing at $75.21 for a gain of 1.5% gain. brent crude at $76.46 for a gain of 1.7%. today's gains driven by the expectation of another inventory draw with traders calling for a 4.7 million drop in stockpiles the international energy agency also out with its closely watched monthly oil report this morning saying demand rose by 3.2 million barrels per day in june to a total of 96.8 million barrels per day outstripping the available supply the agency expects prices to remain volatile until there is clarity in opec's production policy >> pippa, thank you. >>> a busy day for bond yields which saw a spike after that inflation number, then pulled back, then jumped again after that 30-year bond auction. let's get to rick santelli with the latest. >> yes, it was a two-fer selloff but only the second one stuck. let's put 10s and 30s on one chart. you can see what we're talking about. 8:30 eastern, cpi is hot, hot, hot. market p

let's go to pippa stevens at the commodities desk what's going on?rsing early losses to finish the day higher but not enough to push crude into positive territory for the week wti posting its worst week since april and third straight week of losses brent down tore three straight weeks as well for the first time in more than a year. a lack of clarity on the reported opec deal as well as a jump in covid cases waeing on prices wti finishes with a gain at $71.79 brent crude advancing 0.1 to $73.57 energy stocks down about 2% and the move pushes the group into correction territory and since it's friday we have to get a check on gas prices. the national average will set you back $3.16 that's up almost a dollar in the past year. >> yeah, it's not fun. it is a pricey trip to fill up these days pippa, thank you very much >> it is driving season. another day, another strong economic number. still the ten-year yield rick santelli, what's going on over there >> reporter: you know, eamon, it's so fascinating. if you look at retail sales for june, we were up 0.6 o

to pippa stevens at the commodities desk >>> oil is basically ending the week right where it started.t to boost output, and the price action suggests traders believe fears over demand were overblown. wti finishing the session up 0.1% at $72.01 it is also wti's first negative week -- first positive week in the last three brent crude advancing 0.3% to $74.05 and since it's friday got to get a check on gas prices. the average is $3.15, down slightly from last week but still nearly $1 higher than last year, kelly. back to you. >> pippa, thank you very much. >>> with all the different ways to pay for something, you probably use a lot less cash than you once did and as cryptocurrencies make trans,s ever easier do we need cash at all? even the fed has floated the idea of a digital dollar arguing cash will soon be obsolete an economics professor at cornell university and a senior fellow at brookings. it's great to have you here. you're a longtime observer of currency rates and so forth. it's eye roironic because we mi have a ways to go here, right? >> it's important to make a distinction betw

to pippa stevens big turnaround >>> oil moving between gains and losses this time it's managed to finishigher snapping a three-day losing streak. wti crude settling up 1.1% at $73 right around the highs of the session. crude advancing to $74.18. the turnaround came at 11:00 a.m. after a bullish inventory report stocks declined last week well above the expected 4 million barrel stock today's gains, though, not enough to push oil into the green for the week and wti is on track to snap a six-week winning streak amid the opec uncertainty. guys, back to you. >> pippa and i used to sit next to each other in the newsroom, and i recall you would duck anytime a camera came near us in the newsroom and now look at you. you're a star. >> i miss having you as my name, bill, you were always the best. >> good to see you >>> so live nation is considered to be the ultimate reopening play that stock up more than 75% in the past year but it has pulled back recently falling 7% and now questions about the delta variant's risk julia boorstin >> reporter: thanks so much, bill and, ceo of live nation, thank you

it did just minutes ago for the week let's go to pippa stevens at the cnbc commodity desk. >>> bill,g up a volatile week on a high note wti crude futures advancing to 74.61 for a gain of 2% today's action follows the bullish inventory report which showed that crude and gasoline stocks both declined by more than 6 million barrels last week not quite enough to outweigh the drop earlier this week after the breakdown in opec talks and wti is ending the week down 1% snapping a six-week winning streak heading into the weekend, the national average for a gallon of gas continues to creep up. currently at $3.14 guys, back to you. >> sounds about right. pippa, thank you have a good weekend. >>> rick santelli tracking the action there's been plenty of it at the cme. yesterday we were talking about lower yields today higher yields. >> reporter: that's what makes the market, bill it's not only been a crazy week and this, of course, is the crazy week, it's been a crazy month. here is the month in pictures. an interday of all ten-year note sessions pay attention to lows. we do a lot of work under t

let's get to pippa with more. >> oil finishing in the green but not advancing nearly enough to make upgust delivery up 1.4% at $67.32. that contract does expire today, so we're seeing a lot more activity in the september delivery contract, which is also up about 1.4%. brent crude advancing 1.2% here to $69.42. now, earlier in the way wti traded as low as $65.01, which is notable because that $65 mark has acted as a key support level according to analysts. later today we'll get inventory data from api followed by official numbers out tomorrow. analysts are expecting crude stocks to decline, kelly, for a ninth straight week. back to you. >> pretty modest rebound after that slide pippa, thanks. >>> markets are powering back more broadly today the s&p 500 has recovered all of the losses from yesterday plus a couple of bonus points so which one of these days is the outlier, the rally or the sell-off let's bring in mike santoli with more what are your thoughts >> i don't know which is the outlier, the drawing backof th sling shot or letting it go and having the rock fly. there were big swath

back to you. >> pippa, we appreciate it >>> chevron and exxon reporting billions in earnings and strongoke with chevron ceo in the last hour >> we've seen really strong demand recovery over this year, and that really continues. it's a global phenomenon, stronger in some markets than in others the softness is in international air travel but domestic air travel within the united states, is back before prepandemic levels, the roads are full of cars demand has been very strong. >> he may be bullish but this month energy is the worst performing sector down 8%. how do you trade it? oil analyst at scotiabank. lots to break down here is the real question. are oil stocks a buy right now for you? >> yes we are bullish on the oil market we think that the group has been under owned by the investor. >> so you may be bullish but it seems a lot of other investors are not. i'm looking at the xes and the oih, both etfs down 3% following those very strong reports from chevron and exxon. did you see or hear something that would make other investors more bearish on oil? >> not really. i think the first tim

. >>> the oil market is closing for the day so let's go over to pippa stevens. >>> oil dipping againyesterday's losses the market digesting what a potential jum in output could mean after opec and its allies reportedly reached a deal on production policy. they've yet to release an official statement let's get a check on prices. wti crude down 2% at $71.68 after falling almost 3% yesterday. brent crude dipping 1.75 to $73.47 it's a little bit confusing here because one of the narratives has been that supply can't match demand and targets for oil are all over the place suggesting we simply don't have great visibility into what the picture looks like that said a number of wall street firms remain optimistic energy aspects saying this morning that, quote, fundamentals remain solid and the sell-off is a buying opportunity. ubs says inventory decline will push wti to $77 between now and september, kelly back to you. >> pippa, thank you very much. >>> now let's zero in where jobless claims fell to 360,000 it's high but the lowest since march of last year this as high-paying remote jobs are

pippa stevens is following that for us >> another down day for clean energy amid a risk-off tone in theon. invesco held clean energy ticker down 1% after declining about 5% still on pace for its worst week since may, down 4% the fund tracks all parts of the clean tech ecosystem weakness across the board from electric vehicles to hydrogen to wind and solar stocks, no exception, also taking a hit the invesco solar etf down 2%. sunrun and manon armstrong among those dipping. on a day like today when we're seeing investors take risk off the table and buy treasuries, this group will take a hit the majority of clean tech is still small caps which are also getting hit across the board the russell 2000 declining 2.5% this yeek compared to the s&p's roughly 1% dip concerns around the infrastructure bill and what that ultimately looks like also weighing on clean tech, jon. back to you. >> yeah, you mentioned the infrastructure bill. i also wonder about if there are other things that analysts point to as potential catalysts one way or the other for these stocks, whether it's home building on the s

pippa stevens at the commodity desk has the numbers for us. >> reporter: tyler, a rough session for oil, on track for its worst day in more than a year opec and allies agree yesterday to increase production, but with covid cases rising, demand could be about to dip. let's get a check on prices. wti down 8% at $66.09. that is a far cry from the $77 that traded at just two weeks ago. brent crude dipping 7.2% to $68.30 opec and allies will boost production by 400,000 barrels per day each month beginning in august returning to the 600,000 that it's with holding it means the alliance is still intact baseline quotas mean more oil next year. that's not enough for today's large drop fears around the delta variant, a jump in the dollar and broader risk are also fueling today's declines energy is by far the worst performing group down 4% diamondback energy, marathon oil among the biggest laggard dipping 5% guys, back to you. >> pippa, thanks with opec reaching their agreement, what is the outlook let's ask the head of oil and gas research at evercorp what do you think the back half holds? >> i th

back at newmarket holidays, pippa is one of the government's great hopes.ummer, pippa was straight off the furlough scheme, back into herjob, prepping the new travel brochure. the travel industry in particular is on its knees, and without that cash injection from the government, i don't know where we would be. so, i certainly think that i wouldn't probably have a job. the latest figures show, however, that an increasing proportion of those left on furlough are older workers. there is a fear about how many won't be able to step back into theirjobs. faisal islam, bbc news. well, we can now speak to gemma walker from bradford, who's worked in the travel industry since she was 17 and now an accounts manager at newmarket holidays. that's right, since i was 17 years old, a very long time. we that's right, since i was 17 years old, a very long time.— that's right, since i was 17 years old, a very long time. we were brush over how long — old, a very long time. we were brush over how long that _ old, a very long time. we were brush over how long that is _ old, a ver

. >> overall, it was a weak month for central stocks pippa stevens has the details.ging the july losses to nearly 9%. it was the lodgest monthly winning streak in a decade they were we saw weakness across the board, with every stock finishing the month lower, dropping 19%, occidental, marathon, and phillips 66, the best performer for july shedding just 3% finishing the day, week and month higher, so the losses, come amey of a potential slowdown, as well as some, the top sector for the year not worried about any real -- is this the sector um to buy? >> i think you see. >> consumption is on the rise. i'm a huge fan of delta, as we talked about before. we continue to see earnings out of the exxons and chevrons, and their guidance indicates that the market really should remain tight. i think we'll be okay here in the energy space as well do i think we see it tanking no, but hovering around the $70 level is realistic, as we look forward to that the back half of the year >>> up next, dan niles is calling a bottom on a group of stocks that have been crushed recently find ou

guy, that is payday, he is one of the leaders, and i recognize his voice and one of the things that pippain spanish, which my father translated, was that i have got one bullet left, we have run out of ammunition on our supply ships, never came in, america never backed us up. i do not know what to do with this last bullet. i am standing in water up to my waist. should i shoot it at one of the cubans coming down toward us or should i use it on myself? host: go ahead and respond real quick, nicholas. nicholas: certainly, he is referring to the brigade commander who used that last bullet to destroy his radio. yes, it was a frantic plea for help and shortly after that, there were completely out of ammunition and were captured. host: is there any lessons we can take today from the failed bay of pigs invasion? nicholas: yes. when we are talking about covert actions that involve paramilitary activities, the president, the national security council and cia leadership need to really work through the assumptions behind it, the what-ifs, the problem with the bay of pigs the bay of pigs is that every

visit indeed.com/hire >>> the oil market is closing for the day and pippa stevens at the cnbc commoditynumbers for us. >> hello, tyler. oil dipping again today, building on yesterday's losses fears of a demand slowdown as covid cases rise is hitting prices wti finishing the session at $71.57 for a loss of half a percent. brent crude is at $74.40, down a tenth of a percent later today we'll get inventory data from the american petroleum institute followed by official numbers out tomorrow analysts are looking for a 2.5 million drop take a look at energy stocks the group is down more than 1%, giving back some of yesterday's gains. occidental, marathon oil and egg resources are among those. >>> the push to complete the nearly $1 trillion infrastructure deal is hitting a series of hurdles. lawmakers have ignored a smaller initiative that focuses on semiconductor production the u.s. is dangerously reliant on foreign producers with us is jerry seib. it's great to have you what would this bill specify >> it would create a fund in which the commerce department could help fund research into semi

l let's go to pippa stevens. >>> a strong session for oil here back above $70 monday's sharp drop is. wti up 4.6% at $70.31. brent crude is at $72.23 for a gain of 4.2% now the market here shaking off a surprise jump incrude stocks from last week inventory up for the first time since may rising by 2.1 million barrels. estimates called for 3.9 million barrel draw. on the heels of oil's rise energy is the top sector dropping around 4% all components are in the green with occidental, diamondback and marathon leading >> thank you very much just like oil is on the rebound so are bond yields rick santelli has more rick >> reporter: if you look at the two-day chart you can garner a lot. obviously we've had a big reversal yesterday's low yield wassed 1.12 a 1.19 yield but maybe the most important thing has been the relationship lately with the equity markets one week of the s&ps rates definitely led the equity mark lower. soft rates made investors nervous. a global reopening trade gone awry but clear on the right side of that chart today that stock seemed to be leading when rates seemed to b

to pippa stevens, how is oil looking?osting its first negative week in seven wti futures down about one hatch of a percent at $74.14 that is well off the worst levels of the session, though. brent crude dipping about 0.4 of a percent to $74.24. blue line futures saying three narratives are influencing prices here. the first is the delta variant and what it means for demand the second the disbanded talks between opec and its allies and what that means on the supply side and the third is the record surge in u.s. gasoline demand last week leading to a larger than expected inventory drop now the energy sector is just about flat but chevron is managing to trade higher after bmo initiated coverage with a buy rating, $123 target. they say that strong free cash flow and expected dividend growth should push shares higher, kelly. >> it might be down but we're still talking $74 a barrel and certainly feeling the pinch at the gas pump thanks >>> over at the bond market ten-year notes rick santelli tracking the action for us. rick >>

to pippa stevens at the cnbc commodities desk >> reporter: another volatile day with gains and lossese meeting between opec and its allies continuing to weigh crude started the day higher but couldn't hold on to the gains closing here about 1.75% lower at $72.12. that is off the worst levels of the session. brent and crude dipping to $73.34 now this is the second day of wild swings. wti closed in the red yesterday after hitting its highest level since november of 2014 suggesting investors are unsure about what the breakdown in the opec talks means looking forward. there are fears if a consensus isn't reached countries could boost output still lootts to watch. >>> thank you. it is now from stay at home stock that's getting a lot of interest from the reddit crowd purple innovation. they make mattress, pillows and seat cushions. shares are down double digits following manufacturing and supply chain issues. wall street is a big fan analysts covering the company rate it a buy. the ceo of purple joins us now joe, welcome to the program. >> thank you for having me >> let's talk about the sup

i visited my imma and pippa. i kicked it with the von trapp family.'ve got holes in my cheese, no holes in my game ♪ [ yodeling ] ♪ i climb through the alps and i drive-thru the lane ♪ [ yodeling ] >> no, no, no. train your tonsils. this is basketball, ya? like dribbles up and down. [ yodeling ] >> he's enlisted legendary yodeling court jorgen schlump to help him. >> i am a three-time gold medalist at the yodel olympics. i am the voice of "the price is right cliff-hanger." yes. [ yodeling ] [ yodeling ] >> i can't do this, man. i suck at yodeling. >> what animal is this? >> a goat? >> no. you are the g.o.a.t. go again. [ yodeling ] >> no, terrible! [ yodeling ] >> come on. like you mean it. [ yodeling ] >> you call yourself swiss? >> yes. [ bleep ] swiss. >> but the shoot is interrupted by some earth-shattering news. was ist loss? >> i just got a message from 23andme, and it says i'm not swiss. >> what are you? >> i'm scottish. ♪ >> on the next 30 for 30, charles barkley's lifelong struggle to pronounce the word "terrible". >> terrible. terrible. that

been to the zoo violates my hippo rights and asking me if any of my siblings are royalty violates my pippalaughter ] and then, today, texas congressman ronny jackson jumped in with what he apparently thought was a brilliant come back to reporters asking republicans if they had been vaccinated >> yeah, i was just going to chime in and say, i think that you as a press, have a responsibility to ask questions of the democrats as well how many of the democrats are willing to say whether or not they've been vaccinated? >> seth: hey, remember that guy? dr. ronny, the guy who said trump had the iq of a chess wizard and the build of a college linebacker you know, the guy who was allegedly known as the candy man because he dished out pills like the phoenix suns gorilla giving out t-shirts at a home game. whenever he handed out a prescription, this played -- ♪ [ laughter ] >> seth: i'm sure you at least remember the name dr. ronny. a name that sounds less like an actual medical doctor, and more like a guy who plays jazz flute in a fedora, and invites you to get sky high with him in his yurt outside r

. >>> cnbc.com's pippa stevens heart more on the big winners. >> hey, sara the group at the top gaining components are in the green within the sector oil field services are outperforming so this is companies like schlumberger, halliburton and baker hughes all at least saw revenue growth during the second quarter. later this week we'll hear from majors, so a lot of things to watch there, including capital spending going forward, as well as dividend hikes, or just sticking with the status quo >>> trait ahead, shares of lockheed martin are under pressure we'll diving into those numbers next you can always watch or listen to us litch on the go on the cnbc app we'll be right back. dow is up, heading for a record close. yeah, i mean the thing is, people like geico because it's just easy. bundling for example. you've got car insurance here. and home insurance here. why not... schuuuuzp.. put them together. save even more. some things are just better together, aren't they? like tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. no. that'd be

cnbc's pippa stevens has the details. >> amid the sell-off in royal. >> -- >> just as it's hitting down 4%. diamondback, phillips 66, and eog resources among the names leading those not diplomat quite as much as oil >> i will not be buying energy they're too unrickable i think a month ago we were talking about opec here they are. s&p 500, all the best news, recovery worldwide, and i think in general there are long term. >> akron the country and the world. >> frankly, historically, junior has not been a great performer it has about dwight the volatility so in general, i don't -- energy is, for me, trading vehicles >> another point to know, of course. >> >> no doubt kicking around the 5% threshold. we haven't had a 5% or more drop, when you did get a 10% peak to trough >> i think one of the other things going on, it gets at the energy story, is another way of explaining what's been happening is the benefit has rolled over pretty hard. , as opposed to buying the riskiest stuff now, no bell rings that we're in the middle of the cycle, but it's a very unusual compressed nature, exemplified b

. >> pippa stevens, thank you, an sta anastacia, do you think we've seen the lows. >> i think there'sagreed on some deal to increase the supply here. i don't think oil prices will be materially weaker, but i think we might be close to the highs for the year as you mentioned, it's been a stellar return for the energy sector already. >> mike, the dollar has had an impact or so. >> now you can argue which is the dog, which is the tail, if everything is moving as one, with the global reflation and mobility trade, but yeah, it's absolutely moved in line there was also a lot of hot money, sort of a record stampede of speculative traders into the crude futures themselves i think a lot of it is just a giveback as with small caps, as with industrials, they build up such a huge lead, and now they've been underperformers, but still are -- are beading the more gro growthy. >>> just over two minutes left, mike, down close to session lows. >> this is a day where the internals are pretty much speaking the same language it's very much concerned, and declining volume is more than five times advancing

we're joined by pippa stevens about that >> the s&p group fall 3% and weighs on the broader market diamondbackmong the biggest losers here. today's move lower follows a vo volatile day wti initially rose to the highest level since november 2014 before giving back those gains, and settling 2.4% lower brent crude dipped more than 3%, so, guys, this downturn ways on this energy sector here. >> lindsey, a buying opportunity for energy stocks? >> you know, the energy sectors is interesting it's un44% year to date, best-performing sector in the s&p 500. of course, this follows a year, last year, 2020, where the sector withdraws down 37%. you're going to see earnings rebound this year, last year was the first years in at least a decade this sector saw profits decline to negative territory. we're seeing a rebound, you're seeing that reflected in the wti crude oil prices what we saw at the end of last week, while the energy sector was one of the worst performing sectors, down 1%, you're sees a divergence forming in wti, and the xle, which is the etf, and what we do know about these energy stocks is tha

production growth to come back swinging in 2022 sara and courtney, back to you >> thank you very much, pippaon. energy prices sold off in the last couple of days on the opec plus news and is this an area that you could see buying at the lows even if it's for a short-term period of time? >> you know, i think from here, really it's going to be very much it's a pie-driven story and that's hard to gauge as an investor i think it's easier and probably smat tore place your bets elsewhere. right now supply constrains have been the real driver of energy price appreciation over the last six months if we start to see the disintegration and we start to see more supply come online that will continue to drive energy prices lower also keep in mind that current energy prices, it's really attractive for the shale producers will bring more supply online i do think in the foreseeable future and i would look to put my bets elsewhere other than the energy market at this point. >> finally, mike, we hit on it before, the moves we're seeing in apple, amazon, microsoft, these stocks continue to go higher and a few