schlumberger is more diversified, less offshore so they can survive. but the next six week, up see a tremendous shakeout, a lot of pressure on the ones that have been lost and on the other side of that, focus on the winners and exxonmobil and chevron, those will be the long term survivors. >> just look at how these performed when we had the attack on the saudi facility. you saw spikes in a number of vn in a heartbeat some have recovered to maybe 70%. but that is a selling opportunity, not a buying opportunity. >> let's go to dom chu with a market flash for us. >> auto sector, shares of fiat chrysler and gm in focus and is this because of headlines coming out of both gm and fiat chrysler with regard to a lawsuit that gm is filing against fee at chrysler. in it, fiat chrysler is alleged to have disadvantaged general motors with regard to union negotiations dates back as far as 2009. they allege that fiat chrysler colluded with and had corrupted practices with the uaw and that led to disadvantaged scenarios for general motors with regard to labor and othe

shale drilling schlumberger took a $12.00 due to the slowdown in the u.s. shale drilling schlumberger took a $12700000000.00 impairment charge related to its north american business a rather dramatic and $1000000000.00 impairment charge related to its north american business a rather dramatic slow. down that led to an $11400000000.00 loss for the quarter the largest and that exploded that led to an $11400000000.00 loss for the quarter the largest in the company's history quote that's a sizable write down from pressure pumping business that's the company's history quote that's a sizable right down from pressure pumping business that just tells you the state of north american onshore market being pretty poor said any capacity just tells you the state of north american onshore market being pretty poor said anish founder of oil and gas consultancy from a cap and energy to the cost of founder of oil and gas consultancy from a cap and energy if the cost of getting a barrel of oil in saudi arabia the galois or oil field is like $2.00 a barrel of oil in saudi arabi

schlumberger, halliburton, all making moves good on the downside, l brands, nordstrom, ralph lauren,the retailers. we have macy's after the bell. it dropped 10% yesterday in anticipation of its results. we shall see. guy: let's talk about what is happening with the conservatives in the u.k.. the interpretive us -- the conservatives pledging to cut taxes for working people. boris johnson and jeremy corbyn going head-to-head in the first debate of the u.k. election. important it is very -- i've been clear about the deal i have done. it is in black and white. you can read it. we did not know. we do not know what mr. corb yn. --will not come clear about with the electorate about what he is doing. >> what i would probably leave under the tree for him is "a christmas carol" by charles dickens. my -- iflking about you want to talk about her literally effort -- -- if you want to talk about a literary effort, i am talking about my brilliant exit deal. raphael ofe bloomberg opinion joining us. who was your winter? winner?as your winner was jeremy corbyn, but not by a lot. he is a good debater.

since 2017, google's cloud computing unit has announced deals with schlumberger.ployees signing the letter asking the company to drop contract dealing with fossil fuels. k.k.r. raising $6.5 billion for the european buyout fund. the firm will focus on "private practice" -- private equity ransactions in western europe. --edirm invested ined soer soerberg. alix: live that google story. it's not only shareholders now you have to worry about, it's like diverse -- like your employees. romaine: i know, employees are just the worst. alix: it's not only like they want certain things like we want solar panel fours office. you can't do business with these companies. romaine: i mean, you think about these companies were founded a lot on the so she is and this ideal and they created this employee combace that bought into it. alix: very good point. alix: we're going to look at three companies. first off, i'm looking at chesapeake. one of the downers here in the s&p, down by 6% premarket. the company reported a loss of 11 cents. it also had a slash of spend for 2020 by lamb thir

chef von shares up cimarex energy up and sl schlumberger also. >> the record breaking rally is where we begin today we got all thiems not just in the indices its but across a wide range of sectors. investors are calling for a recession is quieting down the fed and earnings that weren't as bad as feared let's bring in manage director of private expect. welcome to you both. what's notable about today as well as on friday we're seeing these sectors that are these value sectors that have not been loved, financials, energy, materials and they are picking up >> i think that we came into this week sustained by last week it's sort of everything has come out reiterated a very bullish stance so the last number of months has felt like there are two ways to interpret all of the data you're getting and some people are interpreting it to the upside and positive consumer and bottoming story and other people pointing to global gdp slowing, et cetera. i think what happened on friday with the jobs numbers and what has continued to happen today with the earnings numbers is the interpretation really pla

schlumberger down by half from the 52-week high. you're paid 5% to get the area get better.harles: i like the permian basin names are reacting because they have been slaughtered. >>> elizabeth warren is pitching her "medicare for all" plan and it might not work out. according to data from news whip provided by axe sy owes, 70% of the most engaging articles on social media are about warren's plan in the last two weeks however they were negative. hillary clinton says warren's plan would never get enacted. foundation for research of equal opportunity president. you studied this for a long time. one thing though, you do agree the health care system is broken. you do agree with elizabeth warren in that area? >> oh, yeah. elizabeth warren is right, a lot of people can't afford their health insurance. not just 29 million people uninsured. it is 100 million more who have insurance but premiums are going up. deductibles tripled in the last 10 years. people are a lot more exposed to rising health care costs than they used to be. charles: what do you make of this battle in the democrat

schlumberger. >> so our discipline said they can't meet the earnings growth that we require so so theyad to go. >> what about energy. >> we ask the fund manager from houston, texas. >> yeah. i think there's going to be for those who aren't focussed on what's happening in energy, there's a short-term tailwind as, you know, saudis looking to ipo or ramco which won't affect us here. but they're asking the other opec members to cut back on production. so that could be a short-term tailwind there. we like to play the top line mineral right companies and the highway, the pipeline companies. but definitely we want to it go go from worse to less worse. it has been a painful trade. we like these companies that have high cash flow. but think it's not worse to the best, i think it's worse to less worse because there's so much negative sentiment. and what makes stocks go higher are people buying them and there's still more searles of energy than buyers. >> you have to believe if energy is going to catch this wave from better feel of the trade and global economy, you have to believe that other valu

big moves up double digits in exploration of production companies and service names like schlumbergerdays of trading. what is going on here? a lot of speculation, a lot of interesting theories about what is floating around first off, don't forget, the rally is broadening out. this is the most beaten up sector it maybes sense they should move up a little bit. we had a modest oil rally. that's not nothing we also have seen a cessation likely of tax law selling. this was the most beaten up group. some of the firms, their season ends in the end of october, there would be a lot of tax law selling going up into that that stopped october 31. that may be taking a little bit of steam away from the sellers may get a short squeeze as well. all of this makes some sense for explaining the rally may be some political issues around, elizabeth warren to the extent that her polls go up and down she's been anti-fracking that may be a factor here. some other companies have announced capital expenditure cuts as well the point is, pay attention to all of this, because when you see a sector like energy sto

nearly 10% in a month it's been kind of a slow climb, but it's done well its biggest holdings, schlumbergers hughes. okay but for those -- and i'm not advising it, but whoever wants to get really aggressive in the space, there's the direction, three times bull, oil and gas ticker you've got to love it, it's gush you get it all right. refiners are the top component of this etf. but just remember, guys, this is three times levered. so you better be very convicted that oil prices will continue to move higher if you're going to get into gush. morgan >> all right thanks, brian. at the telestrator >> sure. >>> we have got less than 18 minutes before the bell. any close higher on the dow, s&p, or nasdaq would be a record up next, we've got your last-chance trade. and tomorrow, join cnbc at the deal book conference a great lineup of guests including dennis muilenburg, kim kardashian-west, bill gaetz and more you can catch it starting at 8:30 a.m. right here on cnbc [leaf blower] you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad