all are in major cities, and none are in west texas or south of san antonio.ss yesterday, chuck todd asks rnc chairman rience priebus about that. >> you don't like a lot of regulation on businesses, except if the business is an abortion clinic. 80% of these abortion clinics in texas are going to be basically out of business because of this new law. too much regulation? is that fair? >> you obviously have to talk to someone in texas, but the fact of the matter is we brief that any woman facing an unplanned pregnancy deserves respect, counseling. >> they have to drive two or 300 miles for that compassion? >> the issue is whether you use taxpayer money to fund abortion. that's the one issue that separates this issue. >> joining us, cecille richards. but the last thing that rience priebus just said, he says that the only issue for him and for republicans is using taxpayer funding to pay for abortions. that is absolutely not true. they want to make all abortion illegal. >> right. it had absolutely nothing to do with this matter. the report you talked about earlier,

west texas crude close to breaking $80 anbaral. we will follow the slide. art cashin and sue mentioning if west texas crude breaks 80 it could get very slippery from here. >> it is getting slippery because we were down 430 points a few moments ago. you know, we have been up quite a bit in this market over the past few years so maybe what we are seeing here is a little bit too much negativity. head of global strategy investment and cnbc contributor and dorothy weaver is former chairman of the feds miami branch. it is ugly out there today. 430 points to the down side on volume. the vix is spiking and oil is collapsing. tell me what you see. >> one, on kate kelly's point clearly there is a lot of technical and hedge fund selling. it is not clear where this kind of connects to what is going on. we had earnings. we are not talking about earnings which is extraordinary. the banks had good earnings this morning. everyone of the lists -- earlier there was a graphic of the concerns. slow down in europe, slow down in china. ebola, isis and i guess you can add russia

west texas is cattle country. it was until prolonged drought killed off the livestock business and devastated towns like plainview. >> it's 10:00 a.m. on march 16th, 2013. this has become a weekly ritual. each saturday these people walk the four miles around the cargill meat packing plant on the edge of town. they're praying for rain and for the plant to reopen. six weeks ago it closed, and overnight 10% of the area's entire workforce was laid off. it shut down because of a three-year drought that devastated the cattle herd here in texas. and without cows, you can't run a meat packing plant. >> father, we pray for the situation in cargill, by god. because as you bring the moisture, as you bring the rain conditions will change, my god. because it's your rain -- >> katharine hayhoe knows those believers well. she, too, is an evangelical christian, also a rising star of climate science, named this year as one of "time" magazine's "100 most influential people." she and her husband, andrew farley, who's a pastor, teach

west texas intermediate could fall to $25. that is breached, the slide could continue. but suppliers aren't making any moves just yet. in canada the expectation is that output will continue to ramp but with the realization that recent growth will begin to trail off. >> there is a point where that's actually going to level off when we reach whatever maximum daily input could be taking into consideration all of the factors of development. >> reporter: what to watch for, opek is meeting next month. we've been talking about oil exports, perhaps the conversation heats up. for "nightly business report", i'm jackie deangelis. >>> a grim estimate today on the ebola crisis. the world bank calculated the price tag and it could top $32 billion in west africa alone. that's if the disease continues to spread. this comes as five u.s. airports say they will screen for ebola on passengers arriving frommest africa and the same day the first ebola patient diagnosed here in the u.s., thomas eric duncan died in a dallas hospital following a long struggle with the virus. >> reporter: duncan

take a look at west texas intermediate crude below $83 a barrel.hey have been in bear market territory so we are getting an oversold bounce in that sector today but watching wti and brent in today's trading session. >> those are actually big moves when you deliver that much in a day from those price levels. >>> macy's gaining ground. the department store said it will open at 6:00 p.m. on thanksgiving day two hours earlier than last year, two fewer hours for you to digest. alibaba initiated buy. shares of alibaba down about 0.25 at 84.88. orbitz. the firm citing signs of momentum and that stock is up about 1.5%. >>> we will talk volatility. the vix index cooling down a bit after we saw the big spike latenist session yesterday. just how fearful are investors and are fears holding back recovery. o'neil securities and cnbc contributor. was yesterday an aberration? the market was moving up steadily and then fell off a cliff. we saw the spike in the vix. >> i think we have talked about this. the three indexes first had broken 200 days. s&p was just a mat

west texas intermediate down just about a tenth of a percent. it was a very rough close in europe. germany down 2%. the ftse down 1.7%. france down almost 3%. italy down 4%. spain, 2.5%. that is the definition of ugly. let's get the trading action with simon hobbs and bob pisani. they both join me here. bob, set the stage for us here and then simon's going to tell us one of the reasons of the selloff in europe. >> europe led us to the downside. take a look at the s&p 500 because things have improved since the european close. simon will give you all the details on that. but the s&p well off of its lows and we're heading back up towards positive territory. the big problem with new york is the commodity complex. sue mentioned oil but it's not just oil. the individual commodity markets like aluminum and copper, the base metals, nickel and zinc, have been continuing to decline on a daily basis for almost five weeks now. that's a major problem. it's global commodity deflation that we're faced with. as a result, anything in the commodity stock complex, exploration of production stocks par

west texas intermediate fell below $80 earlier. bob mentioned that, brent sinking to four-year lows. jackie deangelis talking to all the traders who have to really make the market in that. she's at the nymex. hi, jackie. >> reporter: good afternoon, sue. actually, it's amazing, we have turned a corner here in terms of the crude price. almost a $3 rally just moments ago on our hands here. very aggressive action in the crude pits today. and what's interesting to me, jeff grossman, one of the traders here, we got a 9 million barrel build today showing that there is a lot of supply in the market. so why is this not a bearish indicator for the oil pits? why are we moving higher now? >> keep in mind this was all that was expected already. so when the most bearish news that could have come out comes out, suddenly now the market has nowhere to go but back up. that's sort of what happens when a market is overdone in one direction. it has no other choice. >> reporter: one last question really quick, we are seeing the wti price and brent pric

rest of the country, we do have a risk of strong storms from southern ohio, western west virginia down into northern texas. out west, spectacular weather. 91 degrees. one more day of hot weather in southern california. high surf advisories there as well. we'll get to your local forecast coming up in the next 30 seconds.

west texas and new mexico. st coast, northern california to the canadian border. >>> today's the day to fly. no major delays in the forecast. >>> turn to new hampshire. authorities promising to prosecute anybody responsible for mayhem this afternoon. >> it started saturday afternoon. parties from keene state party spilled over into the streets. about 50 people were arrested. dozens injured. >> like all granite staters, i'm absolutely horrified and outraged at what happened last night. married what has been a great tradition in keene for 24 years. >> she's defending police saying they acted appropriately. some say they were heavy-handed. student leaders claim most of the perpetrators were not students at the school. >>> a fresno, california, man alive this morning because of the kindness of strangers. he was trapped in this house. his daughter inside, screaming for help. one by one, three men answered the call. one man found the 73-year-old struggling to breathe. two men stepped in and rushed him to safety. >> we

west texas intermediate. all you have got to see is how elegant this is. up, up, up -- no, i don't think so. up, up, up -- no, i don't think so. it is not that this is the bloom, it is there is no bid. the only thing that will stabilize return oil around is the idea of opec action, some drama. >> and there's no indication saudi arabia's per pair to do anything. -- prepared to do anything. it is all about the u.s. >> there is no indication that opec even has the pricing power it used to. that is the scary part. >> you mentioned gasoline under three dollars a gallon. is that where we are? >> not new york. >> not on long island. >> there a disk. it will be one of our themes this morning. this morning, the union bank of switzerland reports swiss banks have been the too big to fail rome for over the last two years. this would spikes have been deleveraging. charles calaveras is one of america's experts on why their banks are not like our banks. also joining us, michael for tech. swissld me once has four bank accounts. a making that up. professor, we honored to h

as that sells off you start to see west texas come down with it. a lot of concern that oil might come back down into the 70s. david: wow. >> that is not something i wouldn't totally rule out. liz: i will take. that i don't care when the reason is. oliver, if the market is irrational, help us find rationality within it. you have names here. among them, verizon, cvs, pepsi, apple. why these names? what do they have? what kind of supersonic in move might they later provide in a portfolio? >> i don't know about a supersonic move, but here what you want to look for as investors. look for strong balance sheet. dividend payers. companies that raise their dividends. this is critical. predictable earnings. what do companies like caremark, verizon, at&t, pepsico, apple have in common? rock solid balance sheets, decent dividend. history of raising their dividend in many cases. that's what you really want. don't have a two to three-week outlook. have a two-to three-year outlook at minimum. then you get past this the biggest mistake investors made selling when

i think west texas intermediate is ready for a good bounce. energy stocks are still weak. would take advantage of that. i like technology and health care, most importantly i'd be watching the mid cap industrials now for a sign of a real turn. >> okay. thank thanks. >>> u.s. officials today saying the government is reviewing the purchase of the waldorf astoria in new york by a chinese company. the hotel is the home of the u.s. ambassador to the united nations. the president often stays at the waldorf when he's in manhattan. and it is very close to the united nations and lots of foreign consulates. >>> $3.2 million, the most expensive ferrari ever built. only ten have been made. all have been sold already. who do you figure would be there? robert frank is in beverly hills. robert? >> tyler, this actually is the entry level ferrari it will only set you back 200,000. there's a new boss behind the wheel at ferrari. we'll tell you what he's planning and his favorite ferrari coming up after this fast break. take on the challenge of trading options and futures... with the easy-to-

we have seen west texas intermediate crude threatening to break the 80 market. >> it costs probably $75ushing that is above 80. we are seeing lower prices. the benefit comes on diesel fuel and jet fuel. if you heat your home in the northeast you might have paid something like $3,700 or $4,000 last year. you are iic looking at saving $. >> do you think it could help the holiday spending season if people feel like instead of going online shopping maybe they take the trip to the mall whereas when gas was higher they might not have? >> i think it benefits a little bit. when we get into november it will be about $80 million per day savings. people can be cranky in november or december regardless of what happens with gasoline. if we get below three in a lot of markets. >> california is always one of the highest states. >> they go higher next year because they have some cap and trade things. it can create a warm glow for the holidays. >> we will leave it on that optimistic note. >>> let's lock in the vote. do lower gas prices change your spending? 77% say no it doesn't. >>> if you think you're

put up an intraday of west texas intermediate.d a drop in oil when the weekly inventory levels came out. there was a large announce. oil dropped about 80 cents to around 81. about noon it rallied a bit. around noon you see we started drifting lower as canadian headlines intensified. my point is that last week there was a good relationship between the stock market and how oil moved. there normally is not. there was last week and may be a bit of a relationship here as oil at west texas intermediate starts hitting around $80. we closed $80.52 in crude oil. in the trading after the market close at 2:30 eastern oil continued to drift lower. i think that is having a bit of an impact on the market. >> are you saying the market wants higher oil prices? are you saying you want the americans to pay $5 a gallon. is that what you want personally? >> of course not. the market is concerned about deflation. global implications of deflation, slower economic growth, oil is a proxy for that map. of course, it is a good idea that oil is down. as a p

from '51 or '52 to '73 the dollar number was $3.25 for west texas crude.r purchasing power, of course, decreased all that time, and the costs obviously escalated during that 22 years. the american oil industry had other problems. to curb inflation, price ceilings were set in 1971 by the nixon administration. james schlesinger, the nation's first secretary of energy. if we attempted to control the price of oil or natural gas based upon the assumption that a 15% rate of return was the ceiling because there are so many failures, dry holes, we would discover that it would not have been the entrepreneurial activity in the industry that was necessary to maintain any activity. the control of price in a highly risky industry will destroy that industry. we were doing damage to the industry during the period of control. world oil prices kept rising. although prices for our known oil reserves were restricted by nixon's controls, the american oil industry had one incentive-- new oil. oil found after 1972 was free to follow the higher world price. american producers he

alone along with sarepta therapeutic. >>> and they were just mentioning ample global supplies, west texas crude oil off nearly $3.5 a barrel today, ending just a buck, 91. that is the biggest percentage drop for oil in almost two years, brent slumped below 95, meanwhile. >> not only are oil prices fa falling, so are prices at the pump. triple a says there are at least 26 states where drivers can find at least one station selling below three a gallon. >>> ford is betting on a radical change for the f-series pickup. becoming lighter and more fuel efficient. while no mileage has been posted yet, some models can get more than 25 miles a gallon on the highway for a truck. the panels will be made of lighter weight aluminum and not steel. phil lebeau takes us for a ride deep in the heart of texas. >> this is not your typical test drive. then again, this is not your typical truck. the truck is 700 pounds lighter to be greater than 25 miles per gallon on the highway. one reason why? panels on the truck are now made out of high strength aluminum, not steel. >> you think about all the improvements t

west texas is $86 right now. huge price destruction.e a look at the exploration production stocks shale plays. every day down 2%, 3%. all the shale plays are getting hit down 2%, 3% every single day now. a lot of price destruction going on we've got real pushback. since alibaba, the ipo market has been weaker. you can see it today in several pricings we had. here is mol global here. this is the largest e-payment provider. think ali pay. 13.5 million shares at $12.50. they were talking 19.5 million shares a few days ago. 19 not 13. master limited partnership, 19.1 million at $17. this is a hot space with a hot yield. that's noticeable. we've got atento, the brazilian call center down. travelport. fairmount. we are getting pushback on prices since the alibaba deal. by and large, that is healthy for the market here. we have a winner today. hub spot will be the clear winner. talking 5 million shares at $21. $22 to $24 was the price target. this is a clear winner here. talking about, carl used the phrase inbound marketing. i hate this phrase

light rain from colorado to west texas as well as in southern florida. clear everywhere else. >> 60s in the northeast and northwest. 70s and 80s in the southern half. and in kansas city, word series game one, 61 at first pitch. >>> still ahead, an you are jenlt warning for faulty air bags. >>> and a street fight between kids goes viral. and now sparking an all-out investigation. >>> and speaking up. moni monica lewinsky talks about her past, her new mission and falling in love with the president. >>> well, a major air bag recall is being expanded this morning. nearly 5 million drivers are being warned to have their air bag replaced. most were built between 2000 and 2006. in the defective air bags, the deflator actually explodes like an ied, propelling deadly shrapnel. some drivers haven't gotten the recall notice yet. >> a lot of folks who own vehicles have not received the notificati notification. and that's a real issue. >> the air bags have been used in toyota, mazda, bmw as well as nissan. they come from one plant in mexico owned by a japanese compan

west texas intermediate fell about 2% during the day but pared some of the losses to close by a modest dollar. and traders are trying to find a bottom that may still be elusive. jackie deangeles has more. >> reporter: oil prices dropping sharply in today's session to a low of 80.36 before closing at 801. many saw the bottom dropping, but many say we could be heading lower from here. the factors, a strong dollar, and ebola. >> the perception of market players is if ebola does spread it will cause economic slowdown, not only here in the u.s. but around the world. we actually saw a little bit of that today with airline stocks being sold off right from the get-of go this morning. so there is definitely a little bit of economic activity as linked to the ebola virus. >> in addition, they say if the u.s. lifted the ban on oil prices gas prices will not rise. traders don't agree, they say if the u.s. starts to export the oil and put it onto the international market, buyers will flock to cheaper oil, crude oil prices will go up, so exporting may not be the way to go. cheaper gas prices are a br

west texas's down for the fourth week in a row, brant crude was lower by almost 5%. >>> and more on the bell earnings, one of the big drivers in the dow today was general electric, reporting an earnings beat, out-stripping analyst profits up 13% after the industrial giant sold more jet engines and more oil and gas drilling gear. shares today up more than 2%. >>> also topping wall street estimates, morgan stanley profits at the investment bank surged 87% in the third quarter thanks to a jump in bond stock trading. morgan stanley shares rose 2% to 33.22. >>> in economic news, good news about housing, construction of new homes, up more than 6% thanks to a spike in new apartment complexes and multi family units sending shares of some of the nation's largest home builders, take a look, dr, lanar, polte, up more than 4%. >>> meanwhile, mortgage giants fannie mae and freddie mac are close to a deal with enders that would greatly expand credit to would-be home buyers while protecting the same lenders from allegations of making bad loans, over the past ten years they have caused penalties becaus

but slow going from denver to west texas all the way east to the atlantic coast.the forecast calls for lots of and rain and the possibility of flooding. >>> and airport delays possible in kansas city as well as washington, d.c. >>> and back to the news now. and a happy reunion between a missing hiker and her parents. >> paula was her name. she and her dogs were lost in washington state. temperatures dipped into the 40s, but she told rescuers she built a fire and ate mushrooms to stave off hunger. much more on her story on "good morning america." >>> and the man charged with kidnapping university of virginia sophomore hannah graham. seen here as a cabby, he was reportedly driving a taxi when morgan harrington vanished. she was seen getting into a yellow cab. police say they have forensic evidence linking him to her disappearance. >>> mixed martial artist jason miller is in custody after a tense nearly four-hour standoff with a southern california s.w.a.t. team. they were serving an arrest warrant at his house when he barricaded himself inside. he was tweeting sayin

meantime there are a few harder work to call, and oil is on a slippery slope you could look at west texasmediate, it entered a bear market last week. the same drivers that pushed it down are once again at work today. conceive the imax crude is at $84.20 a barrel. ymex crude is at $84.20 a barrel. >> and fall more than 20% entering a bear market last week how oftenk to check spreads fall more than 20%, and you might be surprised to find it is rather often. it has tumbled quite rapidly, and the reasons all seem to be variations on a three. europe, whether it is the group or gracerging, going into default, these factors come in over and over again. not exactly new news. we have enough weight on it, but these factors are well known. the fundamental reasons are not the drivers here for oil price decline. it is really a supply issue. there is a supply demand imbalance. you have north american oil production of your libya resuming production, and iraq sustaining production, which keeps the price down. case, itt were the should have been a more gradual decline in oil. there is no question that oi

>> i think it will bottom out at $65. >> wow. >> maybe -- >> 65 on west texas? >> right.t off new production, but it won't stop existing production. but anyways, i think it's $2500 per household. heating oil prices are below $3 in the northeast, which is 75 cents cheaper than a year ago. that alone given the average homeowner is 1200 gallons, is 75 cents a gallon there. so that's $800 a year. and then you factor in a 12% shift from heating oil to natural gas in the markets where they can get natural gas to the consumers and natural gas equivalent to oil is a dollar a gallon. so the savings is well over $2,000 on an annual basis per household. >> patrick, i mean that is an exaggerated sort of low forecast, but already prices are down so far so fast in the last five months. the impact of gas prices, we understand how it can help the consumer, puts more money in their pocket and lets them spend more driven by a 70% consumer economy that's good, but what about the cost given that shale boom has produced so many jobs, high-quality manufacturing jobs, more cap ex spending, is i

west texas intermediate, 87.38, down about $1.50 at this point. brent prices under $92.have a crude inventory report coming in about 30 minutes' time. this is a supply story. the markets are well supplied. a lot of articles out this morning talking about exports. that's an issue that's been debated lately. also, of course, we're wondering about the sustainability of prices here. both internationally for the producers and domestically as these prices continue to tank. meantime, i do want to touch on gold prices because we're seeing a little bounce today on short covering. a couple of days ago we hit that 11.85 double bottom but couldn't breakthrough. so investors are a little nervous. a little bit on the safe haven trade. more "squawk on the street" when we return. cute little guy, huh? this guy could take down your entire company. stay with me. on thursday a hamster video goes online. on friday it goes viral - a network choking phenomenon. why do you care? he's on the same cloud as your business. the more hits he gets, the slower your business may get. do you want to sha

$75 west to call it texas intermediate. what does that mean? means you're going to start slowing down. get down to 75 dollars. it means some of the countries that produce oil, mainly russia, iran and venezuela, are going to be really hurting because they very high break even crisis -- prices. >> does our state department want putin to squirm a $75 oil? >> i don't know. >> our still requires how much? $50 and $75between a barrel. of god, i canfiat finally get out of that car and get into a bigger vehicle -- i've got, i can finally get out of that car and get a bigger vehicle. as it the word "clear" markets clear. there's a price you balance for you to shut off supply versus increasing demand. what is that number four wti? >> it is hard to say because you have these biplanes coming up but i think $70 to $75 a barrel is a number you can start to see the market clearing out pretty nicely. it is kind of a contained market. debbie ti --wti is landlocked. can't get to the world markets. it is a little hard to say but i think $75 is a good level. >> fa

stabilities in the market over the last couple of days except oil, west texas, $80.79. datauick check, which is most of it when you look at oil moving today, futures again today -4, and there is nymex crude, that is enough on a data check. let's go to hong kong. >> protesters overnight in hong kong clash with police. there was pepper spray use, batons were also used in four-star we will head over to ivan mann who joins us live right now. give us a summary of what we have learned overnight with the protesters continuing yet arrests as well. >> yes, scarlet, the old way we can describe it that it was definitely a very violent night here. take a look at the backdrop behind me. take a look at bc of people. we have not seen this many people for weeks now, i cannot even tell you how many are out here, but this is just remarkable. at the peak of this process we saw about 200,000 people out here. it is what some of the groups were telling us earlier, but they are right here now because of what has been going on right now in the last 48 hours with the clashes with police, as he

west texas intermediate down for the fifth time in six days, and in the final hours, a freefall, nowhan 4.5%, below the $82 mark. it is dramatic. we will be continuing to follow these numbers. for these numbers to settle out, it will take a bit, but brent crude falling to the lowest level in about four years. a bearish forecast from the iea, saying oil demand will expand this year at the slowest pace since 2009, and that report is really brent, and a sharp drop in you're seeing now, down more than 5% at the close. for the fourth month in a row where the iea has cut the demand forecast, and they are now warning about a staggering decrease in price. this poses tremendous downside risk. and this is at a time when the aboutas been talking fracking, and at the same time, global demand is falling, and it is affecting salaries, iraq, to cut prices, and that is raising concern. opec members will now compete with one another. let's listen. are in a the uae different category. they are very small countries with a small population and huge wealth. so i think as prices start to slip down, they w

texas into west virginia. beautiful weather out along the west coast. southeast looking good, too. and the northeast. then for tomorrow, we've got that wet weather hanging around in the upper great lakes, down to the gulf coast. western third of the country, looking pretty good. high surf advisories continue in southern california. look for showers making their way into interior sections of new england and new york as >>> good morning i'm bill henley. a chilly start this morning, 30s and 40s but we'll see lots of sunshine and with a warm wind we'll warm into the 70s this afternoon. the bright sunshine will be taking a break. chance of a shower during the day and a better chance of showers on tuesday. clearing out wednesday. another chance of showers as we head toward the weekend. have a great day. >> and that's your latest weather. mr. lawyer? >> glenn close is a hollywood

we also have the risk of strong storms from western west virginia back through texas. beautiful weather across the plains with temperatures in the

. >>> a risk of strong storms, texas into west virginia.