alix: stuart wallace of bloomberg news, good to see you.is not just copper rallying, but oil as well. yesterday you saw wti over $60 a $70.l, brent also at let's bring in walter todd who joins us from columbia, south carolina. i have a my terminal energy withs have not kept pace oil stocks. theblue line is wti and white line is energy stocks versus the s&p. does that gap close next year? walter: we think it could, and it is started to close in the last few weeks. the white lineenergy stocks in genee under owned by investors because it has been the worst performing sector, or one of the worst this year. as we move into 2018 and see this reflation trade starting to take shape in the market, we think energy stocks are poised to do well in the new year. alix: how would you be playing that? walter: there is a variety of ways. explorationon -- companies, domestic and global. you could look at bp on the integrated oil side, conoco phillips on the e&p side, and also the service names have been extremely hard this year and we think are due for a reb

joining us is stuart wallace, our executive editor for energy and commodities. about this but is it -- it is important to point out because individual moves in oil and copper. the bloomberg -- the total return index, it measures returns, you pointed out that it is unchanged on the year. what does this tell you in an investor in how to approach? stuart: go long across the entire sector. there is a lot of different stories going on. commodities are not like a decade ago where everything was a buy. you worry about market structure. we are always talking about the oil price. the thing to watch for is the price today relative to what the market will think -- market think it will be in three months. what is the oil curve showing us? we have a chart. what is the oil curve telling us? stuart: a couple of things, short-term worries about short-term supply. very much i'll be back of the opec decision. -- on the back of the opec decision. there is caution about where we will be in one year, two years, three years, saudi arabia already making forecasts for where they will b

thanks to stuart wallace. tony crescenzi sticking around.e sure to watch us on tv . jump to your favorite moments, ask us any questions. click on data and charts to help you through the day. this is bloomberg. ♪ . ♪ nejra: this is "bloomberg surveillance." tom keene and francine lacqua have the day off. francine has been busy. the world's biggest beauty company, l'oreal, is on a mission to transform its business, boasting a portfolio of 34 international brands. it is heavily investing in e-commerce. the ceo talks about the company's secret to success and how demand in china is growing. here is a taste of the show francine lacqua began by asking what sells at the moment. >> this year, luxury. this year, luxury has been booming everywhere. mostly with chinese consumers. chinese consumers are fantastic. they love beauty, they love luxury, they love our brands and their business with chinese consumers everywhere has been booming. not only in china, because they are everywhere. they are in china, they are in hong kong, japan, they are even in

stuart: yes it is. >> thanks to the doorsteps of a lost hampton inn hotel rooms and places like that. look, chris wallacee a great speech. given a journalism award earlier this year. he gave a great speech. he talked about how dire president trump is when it comes to dealing with the press and he is crass, and says things that are shocking, he does launch these assaults on the press but then, as chris wallace pointed out, i'm stealing his point here very much, when we as journalists get in the ring with him, and try to punch back, to be players in the arena rather than doing our job as finders of fact or analysts, when we become puglistss with the president, we debase this thing that we hold. by getting on his level we fail and debase themselves. it is sad to tee. stuart: we have never seen president like this before, i understand that, that is true but we have never ever seen a press corps so united in its absolute contempt for its president. you have never seen that before. >> i got to say 2005, after the 2004 election, the vehement of hatred for george w. bush and iraq war and after katrina, lord, tha