i never saw him spiked the punch. he wasn't in line. you saw what he did to this man's family. this was the root of some of this? >> that was the allegation by michael avenatti's client,

your thoughts on the oil price spike that was? a number of big questions around the fact and how long it takes to bring production back, of course, the market does not know that yet. we are not clear whether this is some level of short-term disruption or a real long-lasting highly impactful oil spike. it matters, doesn't it? >> it absolutely matters. the reaction across markets is quite subdued. that seems to make sense initially. oil reacts to these events and it was a powerful move. time yesterday, it was at the low of the day even after that massive jump. expected a release of supply elsewhere. we expected saudi arabia to restore production soon. it all seemed logical. it is today's subdued reaction that surprises me more. we now know it will take much longer for saudi arabia to restore that production. oil prices up 15% since friday close. massive.of change is assumptions in terms of business plans that year-end, overall, this is definitely a supply shock. it is consumer shock as well. other assets don't seem to be reacting to

spike has price already dissipated.very chart you look at in your bloomberg terminal shows you you jump in oil a 100% prices to tip an economy into recession. ist this does for the fed remind them of geopolitical risks. speakinghairman powell to week and a half ago in zÜrich still sees a strong labor market, the consumer solid, holding up. the problem is this is sentiment was negative in the second quarter, trade war uncertainty. we saw the purchasing index below 50, contraction for the first time since 2016. this is pointing to the fed during the 25 basis point cut. the global risks are mounting. i think the dots will be interesting. i want to show you our dots chart. it is the lower level of dots, that group expecting one or two rate cuts by the end of the year. the change in the summary of economic projections, more rate hikes are not? what does jay powell say at the presser? .his will be interesting people want to know what is next. yvonne: mark, tell us about positioning right now. how far will stocks rally if

that was that 20% spike. now that it's up 11, i have been taking an awful lot off the table especially with the oil service stocks like occidental petroleum. they bought ten different oil service or oil stocks going into this aggressively in the last ten days, very aggressively like we haven't seen in a long time. that's with the double digit short interest. i don't know, but i followed it and i have been hitting the sell button aggressively today. >> you come in here three straight weeks for the s&p and the dow. here we are knocking on the door of new highs. how does that affect your thinking >> i think the market remains in pretty decent shape. you have two massive tail winds behind it. one is global synchronized central bank we are getting more positive news on the trade side. we had these false positives. energy is an area that i like. i think there is a massive disconnect. the short side is massively crowded. >> i heard deep, deep value on this side of the table. i thought of you of rotationto value from

to what extent are you watching the spike in the price of oil? on saturday and the number of millions of barrels per day of oil not available to the markets today. absolutely. i think we need to assess how long this outage will last because at the end of the day that will determine the secondary impact particularly for oil importers. it is a negative supply shock but it's about the length of the supply shock to persist and determine. how worried are you? there seem to be two camps. those that are quite concerned and think it could be quite serious and basically say saudi arabia went do anything without the us, the us went to anything because they've got an election next year and don't want to get into another war with iran.|j think we have to be clear what we are looking at. one is the commodities impact. we've seen spike in the oil price which is the backdrop of what we've been debating around the swelling global economy. we had seen oil higher in a 12 month period. it is a natural reaction right now but what you are referring to now is the geop

and then it was all and let's do business saudi arabia's crown prince says oil prices could spike to unimaginably high levels if the world doesn't come together to deter iran they've been attacks on the saudi oil sector the world's largest crude export a sharply reducing production still mohamed bin sultan says he prefers a political solution to a military one that's helping ease oil prices today but not the saudis worries fitch has downgraded their credit rating citing the rising tensions in the saudi arabia's message is clear an armed conflict with iran would have catastrophic implications for the global economy and send markets reeling it's a stark warning and one riyadh hopes will prevent military action by its long time rival a spate of attacks on saudi oil facilities allegedly orchestrated by iran earlier this month led to a huge spike in crude oil prices as saudi output sputtered in a rare interview with u.s. broadcaster c.b.s. the saudi crown prince issued a stern call to action. if the world does not take a strong and firm act.

but despite the numerous perks critics say ride sharing has led to a spike in traffic accidents in a city that only ready has one of the world's highest road death tolls. never an easy answer traffic there was even all with images of protest in hong kong the tougher the over the weekend remember a number of these robberies of crime for tomorrow as well as you next time. bursts. of species. worth seeing if you can. get those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world. to see green energy solutions and reforestation. interactive content teaching the next generation. to change. using channels available to inspire people to take action and we're determined to do something here for the next generation along as the environment series of global 3000 on t.w. and online. saudi arabia warns of extraordinarily high oil prices unless a peaceful solution is found so the around cross it's to the credit ratings agency delivers a blow to the saudis with a downgrade. hundreds of thousands of diesel drivers take

we've seen this sort of spike before an geopolitical events.adable from our perspective. we don't have any direct oil exposure. it's more correlated. you've heard me talk about russian equities. that's clearly a correlated play on oil. given what we talked about earlier with the pmi's showing tentative signs of bottoming, it's a reason to be moderately positive oil. from mars perspective, it's a -- from our perspective, it's a pretty weak investment. prefer correlated strategies, value strategies like russia, where you paid a big dividend yield in an attractive currency. matt: well, we have seen the oil price get weaker and weaker, even as a supply gets cut out of iran for example or venezuela on concern that global growth is simply slowing down and that demand.gn in do you still think that's the case? alan: i think that's the case today. global growth has definitively slowed down. there are tentative signs of an improvement in global growth. if you want to look at dramatically, the baltic dry index, the price for shipping containers is that a

it kept on spiking all. weak even with repeated massive attacks by the fed to bring it back under control the bottom line is that the fad lost control of the very benchmark rate that it manages and they're not owning up to it. and as the 3rd resumes intervening in the capital markets chinese government officials are stepping up oversight on their homegrown companies we're joined now by. chief market analyst of think markets to look into this more come back to the show there is a new indication that the chinese government is increasing its oversight of their home grown tired companies government representatives are being sent to work with about 100 local companies including some big names like always barber just to just to name one in order can to conduct government relations information exchanges what's what's going on here and what do you make of this. thanks for having me i think the most important thing is that the data is the key and who controls more straw man of the part from the companies or the giant

we also saw one of the largest spikes.rtfolio management perspective i think we have to take the position that this could potentially be a flash in the pan. the reason for that is that we see general demand for oil and the supply is quite high. you have seen over the past few months lots of opec nations coming out and saying we have to cut supply to keep the price higher. on top of that you see the us administration prepared to release reserves . the us administration prepared to release reserves. also saudi arabia has said they have a lot in stock so they could meet any shortfall there is. the concern is what could happen next, in terms of the reaction from saudi arabia, iran denying any involvement, questions on how this could happen, could it happen again, and the vulnerability of other oil supplies in the area. i think there isa supplies in the area. i think there is a lot of talk about how the us could potentially escalate the whole situation. again, iwould could potentially escalate the whole situation. again, i woul

say ride sharing has led to a spike in traffic accidents in a city that already has one of the world's highest road death tolls. never an easy answer traffic there we do now with images of protest in hong kong but after that over the weekend remember a number of these robberies of drug for tomorrow as well as you next are part. i'm secure in that of my work not hard and in the end this is a me you're not allowed to stay here anymore we will send you back. are you familiar with this. with the smugglers who are liars and. what's your story. 'd with numbers and women especially in victims of violence and take part and send us your story train all with understand this new culture. you are not a visitor nothing yet you want to become a citizen. in for migrants your platform for reliable information. saudi arabia warns of extraordinarily high oil prices unless a peaceful solution is found so the around cross it's a credit ratings agency delivers a blow to the saudis with a downgrade. hundreds of thousands of diesel drivers take the w. to court in germany's 1st ever mass lawsuit. and a german

the spiked products often have no indication on the label of who is making them.would just say cbd or cbd oil or vape, it won't have any identifying information about the manufacturer. we were able to trace these products up the leer to a point but we are still working on fighting exactly where they come from. >>> i guess the question is if the products are spiked and are not what they say they are, why are they still on the shelves at stores being sold to the public? >> >> reporter: that's a good question. there are gaps in regulation and law enforcement. fda regulates cbd because it is in an approved drug but it still developing its regulations. when it comes to a product spiked with synthetic marijuana which is an illegal substance, controlled substance, fda says that's a job for dea. dea says that frankly they have higher priorities, their fighting opioid epidemic emma killing thousands of people so they have to set their target high and set their priorities. >>> you have any help especially with an investigation like this one that was done by the ap that you

kind since its 2008 financial crisis and the scary part is the fed still doesn't know what caused the spike so let's take a step back and really understand what the repo market is it's essentially a short term borrowing market where banks and institutions lend to one another banks exchanging billions of dollars every day and overnight lending in order to maintain their reserve ratios now this borrowing isn't free you have to put up collateral usually in the form of treasuries or other tear one securities so under normal circumstances the repo market runs smoothly the rate is steady around 2 percent and the entire system is dependent on trust trust that the borrower can pay you back plus interest it's a great way for commercial banks to make money now what happened here was when the rates suddenly spite we don't actually know what happened yet because we haven't seen a spike like that since 2008 and in 2008 when the rate suddenly shot up indicating that there was a risk and uncertainty in the. market there were rumors going around that your partner banks were insolvent so when you hear somet

money market rates to spike again. repo rates, put simply, are a very brief borrowing opportunity. one strategist referred to it as a pawnshop for big banks and financial firms where they could get very short-term loans in the money markets. when it does spike, it can present a threat to spill over to the fed funds rate, which makes it problematic for the fed, so they are using a tool they have used in decades past, have not used it for a while, to get in on a daily basis and sort of manage it. they are getting it again in the thursday session to inject about 75 billion dollars in liquidity to calm this down. so far, it appears to be working. paul: thanks very much for that. nadine turner joins us now. thanks for joining us. i want to start with that repo she was talking about. we have a chart that illustrates how the fed has managed to calm things down. what is the plan here? that is the third day of intervention. the band-aid approach seems to be working, but does some sort of longer-term solution need to be presente

we'll prices spiked in world markets dropped after the spike. fox business network, reporting from the new york stock exchange. >> you are right, that oil price gained percentage in more than ten years afterward if that attack. of course as we know saudi arabia one of the largest net exporters in the world. so that is, of course, making equity futures and of course, investors very anxious about what the effects of higher fuel can mean to a lot of companies around the world. so if you look at the dell, you just showed us, but still down right now as you can see about 116 points. the worst of the session down around 150-160 points for the first day down about nine. not surprisingly, a lot of tech companies are moving lower, airlines in particular. they have to pay a large fuel bills, large energy bills so if you look at jetblue, american, united, they are all moving down. they can be set up some of course the cruise operators royal caribbean one of note, and the larger concern, higher energy prices will slow down the global economy when there are

economy, i think it's fair to say that when oil spikes we should listen. the last five recessions were presoo preceded by oil spikes it's really interesting that this is a reminder of having why having global coordination matters. when we have trade wars and currency wars, and this happens, the tables have churned and china cares more about this than the u.s. this will be interesting to see how it plays out when it comes to negotiation this is more leverage for the u.s. than to china and is that stark reminder, we should work on certain things together because it affects everybody. >> that's a fascinating point, thousand do you think it will affect the trade dispute between the u.s. and china if at all. >> it helps the u.s. hand. china was already struggling with doling with the trade wars. exports matter more to them. oil matters more to the u.s. now, so i think it places a little more leverage on the u.s., and the fed, it gives more cover if they are going to lower interest rates because now they could point to another geopolitical environment, another w

we had a spike in oil just this last may.o there is no reason to look at gas prices and say, this is a disaster. but it's kind of the headline risk. just like most people in businesses have not been directly hurt by the tariffs, it's all they read about, and now they'll be reading about gas problems and oil production short shortages. it just adds to the mixture that's very negative for confidences, especially businesses. >> trump made a response about releasing reserves. he also called on agencies to expedite pipeline production, some of the projects in the works in texas and other places, which is kind of interesting in that the release from the reserves should hold the markets over for a while, but meanwhile, this was a single biggest disruption since the first gulf war to oil markets. and even though the u.s. has become the largest producer of crude, that kind of disruption shows what sort of pivotal roles saudis still play in global oil markets. >> there's a supply element and a psychology of the markets. does it matter

first of all why would someone want to do this, to spike, you know -- to do the spiking?st we can tell they do it for economic reasons. synthetic marijuana is man-made, it's much cheaper to make that in a basement or lab than it is to grow hemp and extract the cbd from it. >> so you guys did this whole investigation. what was your biggest takeaway? >> well, the investigation started when authorities in mississippi raided some case stations and vape shops and t s tested the cbd products in there and they found fentanyl. so we began to wonder how big a problem is this? so we surveyed the 50 states and found in nine states, cbd products had been tested, mostly vapes but also edibles like gummies and contained k-2 or spice. so based on what we learned from the survey of the states and online discussions board which people talked about buying synthetic products or what they suspected to be synthetic products, we went out and bought products, tested 30 total and ten of them were found to contain synthetic marijuana. >> the ones that contained the synthetic marijuana, were they

let's start with you 14% spike in oil precis. does that feel about right what are the key factors you're looking at from here as to whether that holds, drops forward, goes back >> i think the key question is, what's the timeline for the return of the saudi barrels? we had heard that potentially one third of production would be coming back today or tomorrow. there's really question marks about that there's a question about the extent of the damage was it more serious than initially reported are we looking at an extended outage of 3 million plus barrels from saudi arabia. and the question is really, who fills that gap yes, the u.s. is a big producer, but they're not a swing producer the question is how much is saudi willing to draw down their inventories and which other countries that can surge production, how much can they surge to meet supplies into asia asia is now being supplied by saudi by drawing down inventories. the question is, how long can they do that >> i think the other question, helima is how will king salman respond.

the three workof against you, so there's a big possibility we see a spike in the dollar and a spike inields after the statement comes out. the 25 basis point rate cut is going to do anything -- isn't going to do anything. everyone is looking for it. i'm just saying the asymmetric risk is that because two out of the three things powell can say on aching medication basis are going to work in that direction. say on a communication basis are going to work in that direction. damian: to have a 600 basis point move in the front end of the curve, that is in an emerging market, not a developed market. alix: what do you make of that? tracy: we've been talking about funding pressures building over the last couple of years, but it seems to not go away, and it seems to get worse in a way the market doesn't necessarily expect. eg happening in a week when we don't have that quarter into pressure -- that quarter end pressure. in the meantime, everyone scratches their head and goes, well, this is unusual. you also have the stronger dollar whenever we have a bout of risk off appetite. that in some tight

of the increase in oil prices which was about 19 percent perhaps the biggest percent to percentage spike in 3 decades is this an indication of a panic. or a deeper economic crisis here well i think that it is mostly panic because there was no reason for oil prices and the normal circumstances drive increased that fast in one day so it was a complete response to the act. of the bomb being of the of the facilities well facilities in saudi arabia. and despite all the. ideas and their pronouncements of president. trump and as well as the minister of and secretary of energy in the states to come to market and also in saudi arabia is the collaboration that they want to use their reserves but people still panicked because they don't know how much time it would take the saudis to repair those facilities and how much to what would happen to their actual usage of reserves if not started to preserve so they are in a way if there is complex there is a complete absence of specific information or is speculative. so is it mostly because of the absence of further information from the saudi government. a

they may have to pay up to get more of it. >> joining us now -- a big spike in the price of crude. very positive energy sector before today. if you look at the risk reward, it had been very correlated. there has been a delay in the price action, in the energy stocks. from a risk reward standpoint, a lot of these had a value. we have seen crude oil between 15 and 16 now. let's see if you can sustain this. $75 per barrel is where we were last year. that as pressure on stocks. youink it's more symbolic are less concerned about the global story. stocks look through this. again.come back down the question is how long do we stay at elevated prices. we are going to have to build a greater you political premium for the price of crude. reaction seeing some to the middle east. the startday could be of something. class hadas an asset a series of higher highs and lower lows. at this as a positive macro story here. look at exxon. 6%, where the dow is up 17% coming into today. i think there is some value there. you will see rotation into the stocks that have been left behind. >> thank you so muc

now there are, of course, fears of a spike in oil prices, as markets reopen in just a couple of hoursand that is why lauren and cheryl, the president has already authorized the use of oil reserves in texas. >> well more on that right now thank you aye sha. president trump did authorize release of ole from the u.s. strategic petroleum reserve. spr to keep market supplied and this morning energy stangdz ready to relief enough oil tooff set iran attack on the global economy and energy markets the market is resilient and respond positively but we're seeing short-term spike in the price of crude oil. >> also breaking overnight perdue pharma has filed for bankruptcy protection 50 days ago oxycontin maker reached a tentative settlement with many state and local governments. well two dozen states remain opposed or uncommitted to that deal and that does set the stage for contentious legal battle or several battles it means that purdue about will be removed from federal trial scheduled to start next month. >> and cancer cause chemical found in popular over the counter heartburn medication sudan

aramco attacks, and oil strike sees oils rises spiking -- prices spiking nearly 3%. says he's locked and loaded. the u.s. points the finger at iran for the rate, donald trump sang a response depends on -- saying a response depends on verification. investors flee from risk as they assess a new threat to global supply desk old supply. -- gold supply. i'm anna edwards at bloomberg's european headquarters in london, half an hour into the trading day. let's check out where we are on the stock 600. 535 moving to the downside. the feeling is a weaker one, down 6/10 of 1%, down 4/10 on the ftse, seven tents of 1% on the cac, and oil majors moving higher, and airbus and luxury goods moving lower, along with aviation. the oil story remains the big story for us. let's get back to that now. a strikearing after removed 5% of global supply. the worst disruption for crude and reverberated around financial markets. generalthis is the opec , also with me on set, annmarie hordern, an expert on the oil sector. we've been watching this closely. very good to have you with us. isonder wha

we saw oil prices spike up on monday.feels like the real economy may has dodged a little bullet here. oil prices have come down. it doesn't feel like the oil markets are going crazy. calmer heads have prevailed. they talked about how the oil shipments won't miss a beat here. they have extra stockpiles. it is a risk. higher prices would hurt consumers and businesses. >> we heard of a quarter a gallon raise. you never know what could happen with that story. have a great weekend. >>> ahead for the first time in seven years, the yankees get to wear the a.l. east crown. the celebration in "the bleacher report." managing lipids like very high triglycerides, can be tough. you diet. exercise. but if you're also taking fish oil supplements, you should know, they are not fda-approved, they may have saturated fat and may even raise bad cholesterol. to treat very high triglycerides, discover the science of prescription vascepa. proven in multiple clinical trials, vascepa, along with diet, is the only prescription epa treatment, appro

but that's a massive spike in anyone's language.f this increased or priced stays, what sort of impact is that going to have on the global economy. we don't know how long the facility will be out of action. when does it get back to pumping what they need to pump to ease fears and to bring the price down. if that doesn't get sorted out, we could see bafrls $rrels, and highle the cost of energy is only going to make matters worse. we know that china is struggling. and terrible numbers coming out of china. all going the wrong way. can it continue to with the trade war. oil prices start hitting them. prices at the pump go up 25% in the next few weeks. it tipple the most analysts say no. but it will depress, push down global economic activity. >> this is a factor. at least for american consumers. energy prizes are trending down. now, looks like they will be trending at the white house. >>> the white house, cthree are being subpoenaed to appear before the white house judiciary committee. lewandowski is directing him to show up but not answ

drink spiking ace huge epidemic.ot of people are not aware of it but everyone should definitely have a night cap. >> so we originally when we started this we did a survey of 100 females 18 to 25. that is where we knew the huge problem, we believed the huge problem was there. we found really shocking results with that survey. 26% of females 18 to 25 reported in our survey they have had their drinks spiked. 75% said they're worried about being spiked going out. this is a huge problem. charles: have you contacted any major stores like walmart? >> no. we've been in product development, getting everything together. our supply chains. charles: got a patent pending ready to go? >> yes. >> all you need is a little bit more cash. take care of these legal fees. you're job will be able to get it in all the different stores, maybe college campuses, bookstores, things like that as well? >> online retail. we want to wholesale it to bars, music festivals, women's organizations, college logos and basically brand them with their bran

and you see this big spike, up toward 10% 10% for secured overnight money. obviously, something was wrong there was a technical clog in the system tremendous draws of cash out of the system, because companies were making their quarterly tax payments, and there was a huge influx of huge treasury influence that was kind of packing bank balance sheets. there was an abundance of treasuries looking for cash to essentially be exchanged with and there was a shortage of cash the fed came in this morning, injected some cash on the other side of it that's why it's kind of showing a zero rate right now. normally this race kind of hovers around the fed funds rate, over 2% right now. the reason it's interesting, we did put upward pressure on the federal funds rate, which went up toward the upper band of the fed's target and probably feeds into some discussions tomorrow at the fed meeting about tomorrow how to rectify some of this, technical tools that might be necessary some of this, also, guys, is a result of bank regulations that limits what banks can do in terms of pr

both of those countries really will pay the huge price for a big spike in oil and gas prices.that said, i think the message is clear we've got big supplies of oil around the world and the united states we're sitting on 645 million barrels. saudi arabia has 188 million barrels of oil i think 97 million barrels of oil products and worldwide the international energy agency member countries -- with that said, we need to send a clear message that this type of activity and the obvious spike that could occur in the market is the result of iranian activity and real clear message the president is sending to iran about their malign activities. >> mr. secretary, for our audience who's interested in the status of the facilities, what intel do you have on what was affected and how long it will take to restore? >> i'll leave that to my counter parts who i talked to at length 24, 30 hours ago prince bin salmon and i have a long time relationship he would be the better source of information about what they saw as far as direct damage and how quickly they'll have that facility back up and oper

all of that came together and we saw a real spike yesterday that continued into this morning.york fed stepped into do its own repo operation. the difference is they can create cash, so they took insecurities and let down cash to provide more liquidity to the system. maybe the good news is they did $53.2 billion. they had offered $75 billion. they be the cash shortages a little less than they feared -- maybe the cash shortage is a little less than they feared. guy: i thought we had execs of -- i thought we had excessive reserves here. what is going on with the level of liquidity out there, and the way that the fed structures the c.?tem with the ioer, et is that working? michael: there's no evidence it is not working. the fed has been running down its balance sheet because it does feel it didn't need the level of excess reserves it had. banks want more excess reserves for regulatory reasons because they are considered high-quality liquid assets. they are holding more reserves than they need to lend. however, that is not all equal. it is not like every bank has excess was herbs.

operatives residents of the surrounding areas helping us to stay at home and schools are closed the spike the thick smoke authorities say there is no evidence of any serious risk associated with the fumes but people to be cautious in any case it's. well outside if there is the stories are shaping up for now i'll be back with all your updates in just over 30 don't go too far though more great programs get their start in moments. where we are 2019 when they get them interest rates and multi $100000000000.00 trillion dollar thank your capital unicorns are all going lost and the colossal

an attack on the heart of saudi arabian productions sends prices spiking and t effects are felt. >> on strike. gm workers walk offob the for the first time since the financial crisis and both sides have a lot at stake. >>> what' in a name. a startup strikes a deal to put its name on the most expensive nfl stadium ever those stories and more tonight on "nightly business report" for monday, september 16th. >>> and we do a bid y good evening, everybody. welcome. we usually begin this progr talking about stocks but tonight you probably will not be too surprised to hear that we're beginning with oil. those attacks over the weekend on saudi arabia's oil facilities cutore than half of the kingdom's output and it sparked fears of a global supply crunch. th result was t biggest one-day gain for domestic crude prices in almost 11 years. they rose 15% after having been h as m 20%. and the shock rippled through reher markets as well. it sent s of exxon mobil and chevronigher making them two of the best performing stocks in the dow today. refiners took a hitecau many depend on saudi arabia's distin

oil prices initially spike spike 20 percent before receding and settling around 10 percent of saudi arabia is the world's 2nd largest producer of crude after the united states analysts say the markets have just cause to be spooked. just put into perspective they think around 5700000 barrels a day of saudi oil production has been affected it's put in sprite so again global opec says around 100000000 barrels a day so this is about 5 percent of the global supply which saw see quite considerable hits emerge saudi arabia's energy minister visited the damage to oil plants on sunday following the attack it's unclear when it will be back on stream meanwhile the u.t.s. have warned that saudi oil facilities will continue to be a target. and that of course is a cause for concern for more on this we're now joined by our financial correspondent on wall street also who is they are always there is it's good to see you and what's the immediate outlook for the oil markets can the u.s. compensate for saudi arabia stamets capacities. as for now happier it seems that prices will keep rising since there is not

we see a spike, the fed comes in, they try to smooth things out.heard the term quantitative easing lite. this is generally, precrisis, how monetary policy works in terms of dealing with open market operations and short-term repo spikes. i think maybe the way that they pull this down a little bit more is permanent open market operations, which is something they could talk about as soon as october. the recent spike came a day before the last meeting, so i think dealing with all the challenges the fed has had to work through the last few months, this is something they weren't fully prepared for, so i think when you think about how to reduce this, it could be a permanent facility that helps to alleviate some of the concerns about liquidity. alix: mark mccormick of td securities, you are sticking with me. coming up on bloomberg radio and tv, an exclusive interview with former new york fed president and bloomberg columnist l dudley -- columnist bill dudley. that is at 10:00 a.m. business time. now let's get an update on what is happening outside the busi

what's happened in previous occasions ok so let's have a look at these particular spikes so markets open 19 percent higher this morning so what that tells us is basically a lot of people are unconvinced that basically that the saudis have got this problem under control and they're unsure about the attack in sense of you know these whether these were drones or crude crude missiles which actually hit the plant they want more clarity in that in effect so markets opened 90 percent higher and after that u.s. president stepped in and he he put out a few tweets to reassure the markets that basically there is enough oil in the markets as there is plenty of oil in the markets came back down now what we have not only do we have traders trading. oil oil contracts but we also have computers computer logarithms and so they'll be reading the headlines ahead of what was happening picking up on social media tweets as well as well as news headlines putting all that together and they started buying oil oil or oil contracts basically that set the price up once those. tweets came from from trying to sa

we got a little bit of a spike on the montana farmers. but you have had people you have interviewed, traders have been making the case is that you should essentially may going long vol now on the possibility that we could get a spike. what is your take and what is the rationale for the making that argument? luke: there have been a couple to point to, like bonds, that is an easy turn to follow. you look at stocks and volatility, it has been a -- trade. so people who are making that argument are just very simply there.a relative value you have to be careful how you do it, because a low vix does not mean you want to go along with the exchanged products because there could be -- betw een the one and two months. this is something that was recommended the other day. just out of the money, delta neutral calls, because that is something also the institutions like to sell. you might be getting a deal and a way to get long bald that is not a bearish way. romaine: i love the shirt. scarlet: it does read nicely on camera. romaine: i think i want a ja

says oil prices could spike to unimaginably high levels if the world doesn't come together to deter iran they've been attacks on the saudi oil sector the world's largest crude exporter sharply reducing production still haven't been so and says he prefers a political solution to a military one that's helping ease oil prices today but not the saudis worries fitch has downgraded their credit rating citing the rising tensions. saudi arabia's message is clear an armed conflict with iran would have catastrophic implications for the global economy and send markets reeling it's a stark warning and one riyadh hopes will prevent military action by its long time rival a spate of attacks on saudi oil facilities allegedly orchestrated by iran earlier this month led to a huge spike in crude oil prices as saudi output sputtered in a rare interview with u.s. broadcaster c.b.s. the saudi crown prince issued a stern call to action. and that if the world does not take a strong and firm action to deter iran we will see further escalations that will threaten world interests oil supplies will be disrupted and

we had a huge, huge energy spike overnight. wti, the u.s., got $63.34 i just checked trading $59 per barrel, up 8%. i'm looking at a tweet in the last 20 minutes from the department of energy rick perry is saying we stand ready in the united states to release oil from the spr this is the strategic reserve deemed efficient very interesting, he says iran's attack because, of course, others are saying they just don't know just yet who is responsible for this but the secretary of energy pointing the finger at iran 5.7 million barrels of oil a day taken out of the global emergency mix. >>> oxycontin maker purdue pharma has now filed for what was expected to be bankruptcy protection they filed for that after a deal to settle some 2,000 opioid lawsuits filed by local governments and native american tribes and the states, as well. what this company's been accused of is really basically having a very dangerously addictive drug and really downplaying how addictive it is while exaggerating the benefits, as well it's filed for bankruptcy. i'll hand it b

all your long, the downward spike has been more likely.ks ago, the saudi arabia attack, and then the spike goes up. two weeks later, we're already paying more to protect against a drop in oil prices. that means oil traders are looking at the u.s. china trade war and thinking it's a much likelier scenario prices plunge than spike up again. it, but melissa, we're going to go back to. unfortunately, we had the wrong so you'll getou another crack at it. melissa: in the era of ride-hailing, indonesia's cab company is trying to stage a comeback. shares have underperformed the broader indonesian market. they peaked in 2015, when revenues were at an all-time high. they struggled to convince investors they were there for the long haul, but the president seems convinced they can do it. they are going to introduce new electric vehicles, including teslas, and she's convinced no other competitor can replicate this. whether that helps close the gap watchl have to wait and whether it gives the wings it needs. rishaad: it's a tough one. melissa, dan. meli

rist from a recent spike in arrivals. all 5 of greece's island detention centers were already full to bursting when more than $7000.00 more refugees arrived on the shores just last month it was the tipping point for the greek government to hold an emergency session and announce plans to tighten its border controls and speed up deportations of rejected asylum seekers as for the now departed residents of les paul seeking asylum in greece or further passage to europe there were a few words from the greek government that suggested this temporary change of location would be accompanied by a change in fortune. now to the united kingdom a crucial week for breakfast in an alliance of opposition lawmakers and rebels and the ruling conservative party will try to force a vote to block a new deal brecht's it and delay the ukase departure from the european union if they succeed in defeating the government prime minister boris johnson could call an election he says he doesn't want here's what he had to say after an emergency cabinet me

the price of oil has come off a bit since its incredible spike around this time yesterday. of the world's most valuable tech firms, apple, is heading to court in a bid to overturn a multi—billion dollar tax bill in back taxes in ireland as part of a landmark case in the eu's crackdown on tax avoidance by multinational companies. three years ago, the european commission ruled apple received illegal state aid from ireland when it effectively paid only a 1% tax on its profits. the commission ordered ireland to collect $14 billion in taxes from the firm, and apple is appealing against it. but it's not the only tech giant under the spotlight. last week, google paid $1 billion to settle a french investigation into whether it had underpaid taxes. the search engine giant pays little tax in many european countries because it reports almost all of its sales in ireland. in a bid to close tax loopholes, france earlier this year passed a new digital services tax, meaning large multinationals will have to pay a 3% tax on sales generated in france. the european competition commissioner, m

we saw the price spike up $17.ed by officials yesterday saying that they partially restored the output at the damaged plant. we also spoke to the saudi minister of finance. riyadhe to him in earlier. >> we are back online. the interruption in terms of economy and revenue, is zero because we have used our reserves for a couple of days before we are back online last night and today. >> absolutely no impact, neither on spending or revenue, even in the longer term as you look towards the end of the year. >> absolutely. >> what about additional allocations. is that something you are looking at? >> generally, if you look at our budget then and now, there is significant allocation to all -- andnomics news and to the military, including defense. we will continue spending as we need in our defense and protection. >> as we go into the latter part of 2019, in a world with increasing economic uncertainty, you have the geopolitical risks in this part of the world and the fed and other central banks easing, how confident are you

oil prices initially spiked by 20 percent before receding and settling around 10 percent hope saudi arabia is the world's 2nd largest producer of crude after the united states analysts say the markets have just cause to be spooked. just put into perspective they think around 5700000 barrels a day of saudi oil production has been affected it's put in sprite so again global oil production is around 100000000 barrels a day so this is around 5 percent of the global supply which softly quite considerable it's emerged saudi arabia is energy minister visited the damage to oil plants on sunday following the attack it's unclear when it will be back on stream meanwhile the duties have warned that saudi oil facilities will continue to be a target. early results from sunday's presidential election in tunisia showed a pair of outside the candidates taking the lead and sent a message to the current government's polling suggests that many voters are concerned with finishes the economy which has struggled recently with rising inflation and stubborn unemployment. a cafe in the town of desert the men here a

rist from a recent spike in arrivals. this. whole 5 of greece's island detention centers were already full to bursting when more than 7000 more refugees arrived on this shows just last month it was the tipping point for the greek government to hold an emergency session and announce plans to tighten its border controls and speed up deportations of rejected asylum seekers as for the now departed residents of lesbos seeking asylum in greece or for the passage to europe there were a few words from the greek government that suggest that this temporary change of location would be accompanied by a change in fortune. in the united kingdom a crucial moment for bracks it a high stakes showdown is expected in parliament today as some lawmakers move to try to block prime minister boris johnson's wish for the u.k. to leave the e.u. deal or no deal m.p.'s opposed to a no deal brecht's it including from johnson's own conservative party say they'll force a delay of the u.k.'s exit from the european union now set for october 31st if johnson can

in termsbout shortage of property spiking on the prices. hedge funds have boosted their position to net short. the 10 yearon yield. jp morgan saying the september massacre is nearly done. on the risk premium in the u.s. treasury but the moment is -- but the move is not sustainable. nejra: you saw the breakevens rise. but the risk off tone yesterday was somewhat contained. outperformingcks to the outside. consumer stocks underperforming. futures flat. on the s&p 500, for jp morgan, not at 62.reshold is cable extending losses as well. boris johnson, no joint news conference. a challenge ing the supreme court. podium.nd i an empty saudi aramco is not optimistic about a rapid recovery. the state energy supplier faces weeks or months before the majority of the output is restored at the world's largest processing plant. saudi arabia says an initial investigation shows weapon used -- weapons used in the attack are iranian. let us get to yousef gamal el-din. the of the mood in riyadh. : i cannot under describe the absolute shock and sheer be wilder

rist from a recent spike in arrivals.all 5 of greece's island detention centers were already full to bursting when more than $7000.00 more refugees arrived on the shores just last month it was the tipping point for the greek government to hold an emergency session and announce plans to tighten its border controls and speed up deportations of rejected asylum seekers as for the now departed residents of lisp are seeking asylum in greece or further passage to europe there were a few words from the greek government that suggest that this temporary change of location would be accompanied by a change in fortune. now to the politics of change in the politics of extremes the far right party alternative for germany or f.t. became the 2nd strongest in sunday's elections in the eastern german states of brandenburg and saxony state brady brings us this report from saxony state capital dresden. after months of anticipation the dust is settling here interest and the result of sunday's election was yet another blow to germany's establis