her minor failures ago -- west texas. a spokesperson, what the difference between regulators protests in -- and locusts? [laughter] you can't use pesticide on the regulators. [laughter] [applause] west texas farmer said, one of that -- we want to bet? [laughter] virtually every single cabinet member of this administration i spoken to, agricultural reform is one of the first words out of her mouth. it's critically important for unleashing freedom in this country. [applause] the fourth big priorities in 2017, tax for one [applause] . [applause] right now, tax reform -- and is disagreement in the house, disagreement in the senate, disagreement between the house and the senate, the government with the administration. other than that, we all on the same page. [laughter] we can and will get it done prudently the overwhelming majority -- both to her to come above. frank there is power to bold, video's personal attacks and post the irs. [applause] some people in washington state -- that is a little extreme, likeal and i mean like

this is to fairfield and it's westbound 80 after west texas.tly a couple fires started on the right-hand shoulder and under the overpass there, and emergency crews fire on the way there so they may have to block a lane to get that fire out but smoke is thick across the freeway, so heads up in fairfield. >>> this morning one uber driver will not be picking up any rides after saying he would like to take advantage of drunk female passengers. >> the man that heard the conversation recorded it on his cell phone. matt kellers is live in san jose. >> reporter: certainly a disturbing recording of the passenger. the passenger released the recording because he wants to issue it as a warning to women. >> my dream is to have some drunk chick by herself going home at the end of my shift, and she wants me to come in and that would be a perfect ending to my day. >> reporter: the passenger asked us not to use his name and he was picked up near the tech museum and it was an uber pool and he said the conversation between the driver and the othe. >> i would get

i am reminded of a view years ago about west texas.aid,d folks there, i what is the difference between regulators and locusts? i said, that thing is you cannot use pesticide on the regulators. texas farmerwest lean back and he said, one a bit? -- want to bet? optimistic i am so about this new administration, every single cabinet member, reform has been the very first words out of their mouth and that is critically important for unleashing freedom in this country. big priority for 2017's tax reform. [applause] cruz: right now on tax reform there is disagreement in the house. is disagreement in the senate. or is disagreement between house and the senate. there is disagreement with the administration. other than that, we're all on the same page but i believe we can and will get it done. i think the overwhelming toority of both houses want get to "yes." and the advice i have given the president on tax reform is two words, old and simple. i think there is power with old simplicity. i would like to see a flat tax and abolishment of the irs.

you have solar plants in west texas because the factor in west texas is just off the charts.nd then in the pan handle, you have the wind and it blows 24 hours a day. this is a new industry. if you look at the number of jobs being created in the renewable energy business, i mean, it is quite telling. and it gives a lot of hope to a lot of folks entering the job market that there will be jobs available in the renewable energy industry. >> one of the reactions we saw yesterday was that if the federal government doesn't wish to commit to the paris agreement, lots of states and cities will. do you think states and cities and counties can do as much as the u.s. was going to do under the paris agreement if we're not part of that agreement? >> i do. because you look at mayors and city councils and city governments, they've been this charge of producing the electricity for their rate payers. we've always had to do and it we'll continue to do it good to see you. thank you for being with us. >> come to austin. we'll go eat some franklin barbecue. >> austin has that slogan. keep austin w

in west texas, but the next report is around 39.nie: what is the thinking about the u.s. dollar? towardnd has been strength. scott: it has been. i think it is really on the heel of the hawkish tone coming out of the bed. the thought process there is we may not get a rise in rates in september. we are going to get another one there. the thinking is that is good for banks, especially coming out yesterday with the strong bank balance sheets, that will spur more lending. --e lending could, could that is a big word here -- could lead to an uptick in inflation and if that happens, that will be good for the dollar. we are off slightly against the euro. we have had good reports coming out of eurozone growth, but i think just in the hawkish tone is going to support the dollar moving forward. vonnie: scott bauer, trading advantage, thank you. still ahead, eu leaders talk brexit and a key leader is the eu citizens living in the u.k. listen in to prime minister theresa may. indeed,nister may: other leaders have reacted positively to me on the o

i love everything about west texas. i love the starry night, the beautiful ranch, i love that we produce more fossil and renewable energy than any other region in the united states. people from all over the country rely on west texas to make america great. but the greatest contribution from our region is our people. the people of west texas have a distinct friendliness a can-do spirit a humble demeanor a unique sense of humor, and on april 10, 2017, we lost one of our very own who embodied these attributes like no one else. former head football coach at texas tech and favoriteson -- favorite son of west texas, scott dykes carved his -- himself into the hearts of thousands of fans and athletes across the country. a small-town kid from ballinger, texas, achieved his dreesms being -- of becoming a division i head football coach he led to the red raiders to seven championships and was inducted into the hall of fame. i was honored to call him coach and later had the honor of calling him my friend. we are all saddened by his

that is probably the biggest reason why prices, especially west texas, is heading close to that $40 a. anna: thank you so much for joining us today. let's get back to michael sneyd. your thoughts on the oil market right now. i have this chart that type oil in with what we are seeing in with equity markets. a leadingnger indicator it seems for stocks. oil prices are falling, that is the blue line. we have not really managed to make much headway back to $60. this is the way equity markets have carried on regardless. not quite the link there there was. it is interesting. the direction of the correlation i think is driven by whether or not it is the supply or demand dynamic driving the price. anna: this is a supply story. michael: exactly. you can see between 2002 to 2008 it was high demand driving at the higher oil price. is good for stocks. the relationship we have had since 2014 is the lord oil price has strike down -- is the lower oil price has strike down global inflation. the banks have been much more accommodative than they have been. whatever the oil price, good for stocks. michae

few spots in west texas could approach 105 including san angelo, phoenix and tucson 105 also. a family was at it again. this time in niagara falls. mrs. wallenda hanging from her teeth. she broke the record by her husband when he was suspended 250 air. the stunt was on the fifth anniversary of her husband's tight rope walk. >> healthy teeth and gulps there. just ahead a bat size tribute for adam west and president trump made a major m hear. ♪ if you've got a life, you gotta swiffer watching this breath savers protect mint neutralize the plaque acids in my mouth. i can't see anything! that's because it's working so hard. hey, what are you guys doing? you ever think of that? ttake an extra 20% off a greatt kohl's last minute gift for your dad! like a new van heusen dress shirt for just $23.99 a philips norelco razor or give dad a new timex watch. plus everyone gets kohl's cash! kohl's. >>> last night los angeles was transformed into gotham city. the city paid tribute to actor adam west. west was best known for playing the caped crusader on the 1960s tv show. he died last friday

even bismarck could be near 100 and widespread upper 90s from west texas all the way through areas of northern texas. here's my favorite story of the day. a woman who is taking adventure to new heights. betty broke the record for oldest female wing walker in the uk, she is 88 years old. she stood atop the plane at 130 miles per hour, she bested her own record she set last year. she said the ride was a little bumpy. maybe she will do it again next year. i think until she is 90. >> look how chill she is living on the edge doing it right. thanks. speaking of brave brit, prime minister theresa may may be stepping down following an election gamble that back fired big time. you're watching "early today." if you've got a life, you gotta swiffer watching this breath savers protect mint neutralize the plaque acids in my mouth. i can't see anything! that's because it's working so hard. hey, what are you guys doing? karen. we're neutralizing. maybe i want to neutralize. you ever think of that? need a fast absorbing try nivea in-shower body lotion. wash. apply. it absorbs fast. for 24 hour moistu

west texas intermediate crude settled at forty four twenty four up two percent international benchmark brant crude futures rose one point eight percent to forty six sixty seven. on tuesday european. indicated the bank is ready to reduce stimulus later this year as you might guess the markets moved quickly upon hearing that the dollar fell point seven percent the euro jumped one point zero three percent serling also increased point four seven percent energy and bank stocks also warmly accepted this news the dow jones rode rose twenty five point three points and the s. and p. five hundred gained a point six five points at the conference in portugal druggy suggested the eurozone economy is recovering and added quote the threat of deflation is gone and replaced forces are at play however he noted that considerable monetary policy is still needed and that suggests of course that any change in stimulus will be gradual and not drastic. here the international monetary fund offers an economic analysis of each of its member states when it comes to the u.s. the fund isn't feeling very positive ab

this is based in west texas in a time townwide to my family medicine rotation. a little town called for davis. in the story i was riding into town with the dr. who takes care patients in that town. we pulled in a little strip of the town with 1000 inhabitants. the mcdonald observatory. the clinic is on one end of the town. the dr. said hi to everybody and set me off to see the first patient. it's mr. houston. talk it down to me. he is a rancher in his 60s with strong arms. i think i told myself -- picking up a hay bale. yes, he did the wife said, down there. i understand i said. this is been better for me and in my surgery rotation a helped repair hernias. he told me the whole story. how he picked up the hay bill and felt the sudden pain in the groin area and it didn't go away. pull your genes down a set after a while and i will check you for a hernia. he shrugged his shoulders and said well, alright and unbuckled his belt. sure enough when i pressed my finger against the opening of his canal and had him cough a bowl i felt on my fingertip. and i said that's a h

nigeria have increased its own production pushing brant crude to forty five ninety eight a barrel and west texas intermediate to forty three fifty two a barrel some analysts predict the price will drop into the upper thirty's before it gets any better even a new crown prince in saudi arabia couldn't move those oil prices well the price a big point is bounced back with news india's government plans to regulate the cryptocurrency the country's starting a task force to create the frameworks in hopes of fully legalizing bitcoin for its more than one billion residents big coin previously operated in india unregulated this move will lend it legitimacy that the digital currency reached an all time high of three thousand dollars. just nine days ago but plummeted on june fifteenth in part because its exchange site crashed the announcement from india's government on june twentieth has helped coin regain some of those losses india's big current exchange market is believed to be responsible for more than ten percent of bitcoin to dollar transactions worldwide meanwhile a bill introduced by u.s. lawmakers la

something for west texas intermediate.currency reviews on daybreak here in a bit. it is a new york. it is a beautiful new york. ♪ jonathan: jpmorgan and bank of america say second-quarter trading revenue may drop 10%. economic data in china suggest growth may have already peaked in 2017. factory output contracts for the first time in almost a year. and the president may pull out of the paris climate accord, asning syria and nicaragua the only countries not part of the deal. will to bloomberg daybreak. i'm jonathan ferro alongside david westin and alix steel. futures firmer on the market today. up about .1%. yields grind higher by a single basis point at 221 and euro-dollar pretty stable. governor jerome powell will give his take on monetary policy at the economic club of new york. he is the last fed governor to speak before the central bank's blackout window begins. -- period

below $40 ang barrel to join west texas in a bear market, u.s.s remaining above average, production resuming in libya. yvonne: the u.s. and china disagree about north korea. pyongyang appears to make a surprising offer. betty: a bank under stress again. the top 34 face new tests, but the fed expects all to be above the minimum requirements. yvonne: this is the second hour of "daybreak: asia" live from bloomberg's asian headquarters. i'm yvonne man in hong kong. betty: i'm betty liu in new york. joining yvonne for the week. we have been talking about energy, oil prices the big focus. i'm looking at how oil futures are trading in asia. they are showing a slight rebound from the fall, the declines we saw earlier in the u.s. trade. we saw wti crude falling to bear, now brent. yvonne: the market seems to just this is not even about fundamentals. you are just catching this at the moment. whether it does have any kind of contagion effect. it seems to be quite limited so far. take a look at the global demand, still relatively intact. it is more about sup

oil above thaten threshold if you look at west texas or brent contracts. 54-56 in these contracts areevel that cannot be broken now because there has not been the demand quotient that has shown the supply side is being contracted. mark: the other big move has been in gold. the first weekly drop last week. politics that you've got u.k. politics affect ing this. what does it mean for gold this week which mark >> i think it will be mixed. i think the bulls will be under some pressure. i'm looking at the technical part of this market. the ecb, the u.k. elections and now with the fed and that has been telegraphed pretty well. i think gold will have a tough time holding above the 1260 level. i want to see if the bulls can hold onto those levels but it will be a fight. mark: thanks for joining us, great to see you. great stuff, still ahead, the pound continues to slide this morning as political chaos surrounds prime minister theresa may. we are live at 10 downing street next. this is bloomberg. ♪ vonnie: this is bloomberg markets from new york, i'm vonnie quinn. mark: in london, i'm mark bar

what do i share with people i'm talking to in west texas? what value do i genuinely share that we could connect on on this issue? i thought, well, one of the biggest values is obviously our faith because for me, climate change is about helping people. it's about helping people who are already suffering today, the poorest and the most vulnerable of the world are the ones who are most affected by a changing climate. that is why i care. so for a scientist, talking about what you feel about something to people in public? at some point, you'd rather pull down your pants than do that. (laughs) so it was not an easy switch and i see many of my colleagues struggling with the same issues today, but we have realized that talking facts, facts, facts is not enough. - you've got to personalize it, you've got to make it more intimate, you've got to give people a way to access it. of course, i think that religion, faith, is largely about belief and science is largely about evidence. the question is hothe two are not in conflict? you've actually figured ouy

west. two texas mothers charged in the deaths of their children. the desperate search for survivors after dozens are buried in an overseas landslide. and the tallest building west of the mississippi opened for business. >> if an earthquake happened right now, i'm in one of the safest spots? >> yes, you are. i'm not this is the "cbs weekend news." kidding. >> ninan: good evening. i'm reena ninan. in the coming week, the senate is expected to vote on a republican plan to repeal and replace portions of obamacare. the bill, some are calling trumpcare, is losing traction two days after it was released. five republicans say they will not vote for it without significant revisions. republicans can afford to only lose two votes. today, president trump tweeted out, "i cannot imagine that these very fine republican senators would allow the american people to suffer a broken obamacare any longer." errol barnett has the latest from the white house. >> the american people are calling out for relief, and my administration is determined to provide it. >> reporter:

. >> yes, we are the world-swing producer and the frackers in west texas break even is below 30, look continue to push back. i'm bearish on the energy names, yes. lea: what do you expect about the oil glut, we have opec cutting u.s. producers just continuing to produce, where do you see this going? >> well, i think you'll see that opec continues to cheat, what i think eventually happen is the world demand for oil is still growing so, you know, maybe an 18 months you'll start to see a progression upward. cheryl: i was looking at some of the sectors that were doing well yesterday, you had real estate, that sector doing well, of course, health care, are there any sectors that we are not looking at this morning that you think we should pay attention to? >> well, i still think that technology has a way to go. that's where this real growth. it's so hard to find real growth, consumer names, certainly old-franchise companies are really struggling. technology should be at the front of the table. leave lowe thank you, chris, i guess we will see. happy friday. cheryl: coming up, democrats are in

it probably makes his voters in west virginia and texas very happy. they are glad to see him being a tough guy on the stage like that. often a growing happy because the world now knows where montenegro is. [laughter] >> easy for him to talk about. is it fun to o write about him s a journalist, to look into stories where we see donald trump clearly feels more comfortable among the saudi arabia leadership than he does with european leaders? >> yeah, that is a symbol that came out of this trip, that he was treated well in the middle east, and in europe he had a rough time. again, he thinks about his voters. he likes the applause on the campaign trail. he likes the cheers from those red states that love him, and they still love him. they do not care that he acted like him politely there. he gave sort of the picture of the ugly american riding around in a golf cart instead of walking the 400 meters in italy. that is what his voters love. abe also took a golf cap, i think i read somewhere. we have had some shopping, some swearing on the show. that is about

on monday, west texas intermediate was at $42.46 a barrel. that obviously has an impact. but there's another important point here which the committee needs to recognize. the major plays for oil and gas which have really driven development in recent years happen not to be found on federal land. there are exceptions. the permian basin is one of them. for the most part these plays are on private lands and other areas. if the government tries to sell these leases under current market conditions, we're going to get low ball kinds of prices. essentially we're going to be giving away these valuable federal resources and that just doesn't make sense. what we ought to be doing is looking at leases arather than improving more apds. we need to reform our policy. we now charge just $2 an acre for properties that don't receive a bid. it encouraging speculation and that needs to be reformed. we have not reformed our royalty rates since 1920 when the men r mineral leasing act was passed. the state of texas charges 25% in royalties on oil, twice what the federal government charges. in my

two frnds got a surp while driving down the interstate in west texas.hey spotted this golden white snake. apparently they couldn't take the heat from the engine and crawled on the hood! [ laughter ] >> yikes. >> once they collected themselves, the two men inside the car pulled off to the shoulder and allowed the snake to slither away. that's what you deal with in texas, i guess. >> i don't understand how they can keep so calm. i would be freaking out! >> i would be shaking. >> i would be running! >> probably cause an accident. i would just fly off that road. i would be so scared. >> it's amusing because i'm from the mojave desert and so we had to take three days a year of desert research station where we camped out with the snakes. we had to know desert survival. >> so you wouldn't mind a snake in your car? >> i would mind. but i know what to do. but seriously, i see where people freak out. i freak out -- >> mountain lions! >> that's my fear. that's it. yeah. snakes not so much. >> snakes, spiders and sharks. >> i'm with you on sharks. >> okay. >>> all

west texas intermediate was at $42 and $.43.he obviously has an impact on the interest of the oil and gas industry. there is another important point, which the committee must recognize. the major place for oil and gas, which has really driven development, happened not to be found on federal land. there are exceptions, the permian basin which mr. flynn talked about, but for the most part these plays are on private lands and in other areas. what happens, if the government tries to sell the leases under current market conditions, we will be getting lowball prices, essentially giving away valuable federal resources and it does not make sense. what we should be doing is looking at leases and improving the apd, rather than improving more apd's. we need to reform policies. we now charge two dollars an acre for those leases that do not receive a bid, $1.50 in rental. it does not generate much revenue, but it encourages speculation. it needs to be reformed. we have not reformed royalty rates since the 1920's when the mineral leasing act

on west texas, with advancing within, what is it, 8, 9, 10-year bull market.d market, 10.11, extraordinary quiet within the market. peso with llar mexican peso strength this morning. i'm ine: tom, this is what looking at, european stocks starting the week on the front foot. rebound in equities thanks to nestle. getting some 3.9%. the pound also erasing a gain seems to be -- first of all, finding an agreement with the d.u.p., but also know she will spell out how citizens living in the u.k. brexit.protected in tom: thank you so much. let me do a morning must read weekend expert on italian banking. juliano let the zeitgeist this weekend on the collapse of these two banks. e eye tail jan scheme is radically different from the one foot in place, only two weeks ago. slap in the face of italian taxpayers. cherry picking the assets it sandpts leaving the bill to the government. it's hard to see how this aid, involve state which the e.u. forebids. thank you and congratulations on your work over the weekend and scale.pe i did a population-adjusted calm out with $103 bil

life sentences to the two men who had murdered his own predecessor in the judge seat he held in west texas. that judge had been murdered in office. william sessions then took that judgeship following the murdered judge. he oversaw the trial for the murder of his predecessor, and he saw both of the perpetrators put away for life. so they have this interesting, sort of a tough guy reputation. and there are a lot of interesting and dramatic, laudable things about william sessions and his career over the course of his life, up to and including him becoming the fourth ever director of the fbi. incidentally, he's the father of texas congressman pete sessions. but despite everything else there is to know about william sessions and his career, culminate with him being appointed to run the fbi for ronald reagan in 1987. despite everything else you might know about his career, one thing he will always be known for is that he was the first person in u.s. history to ever be fired as fbi director. before this year, he was the only person in american history to have ever been fired as fbi director. and

because every time it gets up to $50, if you want to use a dollar figure, be it west texas or brent, something happens vis-a-vis supply or demand and it drops down again. and that's playing havoc with getting inflation up. and this is a problem in the united states and also the question of demand in the sense of a consumer spending. so he think that's why mario is going to be very, very cautious because he's seeing problems with with the ecb in the past where they've been too fast to jump, you know, on inflation. and so i think the word is caution vis-a-vis how mario draghi will act. >> i just want to let our audience know that the prime minister theresa may has turned up at a local polling station to cast a vote. .you can see the outside of that polling station, but we obviously can't see theresa may because she's inside. this is her constituency as the uk conducts its general election today. so waiting for a live shot as the prime minister steps out. but we'll. our conversation for the moment. bill, i want to pick up on your point about the wind down of the spanish bank. a real tes

west texas intermediate above $46.action in those agricultural commodities, we have been talking about spring we -- wheat. we have that usda agricultural report at noon today. a lot of interesting stuff with corn and so you beings -- the soybeans. soybeans rallied. and up 3%. in a sterling end. those are today's market minutes. scarlet: for more on the wrapup of the first half of the year, let's bring in michael haverty. -- larry haverty. policymakers from that perhaps there is reason to be concerned about the rise in asset prices. when you look at the equity market now, way or you see the reason for concern? larry: i think asset prices are high, but not high across the board. the main thing that is going on, the main characteristic to look at the bright side, the strength of the consumer. employment is pretty good. housing prices have gone up. stock prices are pushing record levels. consumer wealth is there. consumption indicators are particularly good. i spend most of my time in the consumer sector. there is no parti

west. two texas mothers charged in the deaths of their children. the desperate search for survivors after dozens are buried in an overseas landslide. and the tallest building west of the mississippi opened for business. >> if an earthquake happened right now, i'm in one of the safest spots? >> yes, you are. i'm not

was oil closing at its lowest levels since december, entering a bear market at $43 a barrel at west texase, dragging down of energy components. scarlet: they got to $42.75. julia: down 21% since the february high, having an impact on commodity currencies. the dollar managing to eke out gains. scarlet: as we await the msci announcement, let's bring in our reporter and a chairman of holland and company. announcement has been long-awaited, three years now. what kind of chatter have you been hearing from folks you have been talking to? >> more so than at any time in the past three decisions, making 2016, we still have that backdrop over the 2015 summer crash were chinese stocks later pretty important role. a little more optimistic this time around. michael holland, the difference is that they have changed their plans. the inclusion is made this time around, with that inclusion bring a flood of influx into china? michael: to the contrary, it is something that would be miniscule. if you go through the numbers, index0.5% of the msci allocated to chinese shares. it is 170 companies, about -- out

inut a dollar a barrel drop west texas intermediate.k.s the year to date have had fairly rough years with the drop in the price of oil. less popular today. will in a bear market. the question is, will it hold? the majors have taken a hit. they are so heavily weighted, they do tend to move indexes around. guy: the critical question is less the capital appreciation. divies or not those are covered. guy: a lot of investors are going to buy vstoxx for the dividend. by vstoxx for the dividend -- it looks as if the rest the european market is down. next, the market open. four minutes away, this is bloomberg. ♪ guy: welcome back. we are about a minute away from the market open. cash let us take a quick look at where we feature on the fair value line. take a look at what is happening with the the oil stocks. the pound, a factor in all of this. other markets looking softer. are seeing a bit of a gain in the underlying commodities today, but after yesterday. oil in a bear market. take a look at a chart on the bloomberg. to 75. shows you long posi

there's a complex of thunderstorms that's going through west texas.he only really big weather headline is the dangerous heat. excessive heat warning continues. by the way, we started this conversation with excessive heat going into last weekend. this is the longest duration excessive heat warnings they've ever had in las vegas. this is kind of unprecedented stuff here. it will end as we throughout the day today. we're down to 11 million. phoenix to vegas, you're about 105 to 110 in vegas. phoenix 110 to 115. that's cool compared to how it's been lately. the other stories out there is the gorgeous air mass. this morning it's actually a little chilly. there are temperatures in the 40s in the northern plains. you'll warm it up this afternoon. gorgeous day. you don't get -- now they're heading to the peak of the summer. the humidity is low all the way down through the southeast. it's not until you get to florida that we get the thunderstorms and the high humidity. enjoy this beautiful monday morning from the mid-atlantic up through the ohio valley. great

west texas intermediate above $43 a barrel, though of course this is very low in recent perspective.t doing much either. let's take a look at a one-month chart of oil and you can see it falling out of bed in the last several days. a month ago oil around 752. supplies minyan and now the stories are all about overproduction and world imbalance everywhere. scarlet: for our equity week in review, we have achieve equity strategist for bloomberg intelligence. i want to start with a chart here that picks up on joe plus point, which is oil pieces and the affect its head. line is wti. clearly investors are looking past drop in oil prices, new bear market in oil prices. could this signal the commodity is not a meaningful indicator for you. we go back to the trend that was in place before the financial crisis, similar to the late 1990's when the two could move in different directions. is this a shift? straight it'sis been going on for much of the last several years. if you go back to the 1990's when oil prices were $10 a barrel and the s&p energy sector was about 10% of the index, oil prices co

. >> reporter: from the florida panhandle west to texas, pockets of damage. up to a foot of rain expected in parts of the gulf coast, and tonight in alabama and louisiana, states of emergency. >> so we cannot stress enough the importance of avoiding high water. >> reporter: with winds in excess of 50 miles per hour, lake pontchartrain hammered today. we're not used to seeing this. >> not that high. >> reporter: since hurricane katrina devastated new orleans in 2005, the federal government has spent more than $14 billion on an intricate system to prevent flooding again, including new levees, miles of steel concrete flood walls up to 28 feet tall. and pumping stations that can remove up to 12 inches of rain in a 24-hour period. >> but there's no pumping system that can catch huge amounts of water all at one time. >> reporter: so you're watching this -- >> we're watching this really, really carefully. >> reporter: heavy rain and flash flood watches across the country continue into thursday as tropical storm cindy makes landfall tomorrow morning. for many a race

crude oil, west texas intermediate, and we've got a major oversupply even though more recently inventoriesave come down. the good news, you're looking at it there gas now averaging just $2.29 nationwide and the cheapest state for gas where stuart is this morning, south carolina. 1.96, he's fueling up. get it while you can. speaking of cheap gas, one of our viewers sent this picture, a station in corpus christi, texas, $1.94 for regular. a big deal, of course, we told you about on friday, amazon buying whole foods, 13.7 billion dollar cash deal, cash the operative word there, i love cash deals. more on the amazon whole foods story, the big names, in fact shall the biggest names in tech headed to the white house today and joining us is james freeman from the editorial page and james, what do you expect from the meeting? >> what i'm hoping we'll see in the meeting is a strong message from silicon valley, a lot of these companies have a lot of cash trapped overseas and hope they're saying we need the tax cut, we need it now and we need to get that corporate rate somewhere close to the 15% targ

west texas intermediate crude entered a bear market for the first time since august on concerns the opec-letcuts are failing to ease the global glut and supply. one of our editors has been tracking this for us. what is going on? is it opec that is the problem, the u.s.? what is going on? >> thank you for having me today. i think the answer to your question is, both. failing toe opec, ease this global glut of crude. you also have libya pumping the most screwed in four years. on top of that in the u.s., shale explorers have increased the number of rigs that they are using to drill for crude for 22 straight weeks. supplies are coming from everywhere. if there is any testament to how become, ais chart has chart we recently published on the bloomberg terminal shows the amount of oil stored in tankers sapinkard's -- tankards at -- at sea is at the highest level in a while. betty: i want to bring up this chart, which describes exactly some of the points you were just making. crude are seeing wti hitting the bear market and tumbling, the amount of rigs put into production in the u.s. continue up at

the bakken and shale in west texas when they pull that supply off line, that will keep it above $40 art: another story on uber. a board member has walked away from the job. his name is bill gurley. he's the guy who had a lot to do with getting rid of travis kalanick. that's kalanick right there-- no, i'm sorry. that's not. they're talking about a possible successor at the top of uber. one name mentioned is chershery sandbe sandberg. what do you say about that, that would surely revitalize the business? >> it would. i think being female is big in the connotations that it has around it. would she want the job? this is a herculean task to ask anybody to take offer the reins. what's the compensation incentive. in silicon valley, what you get, you get salary, but you get stock. to me the valuation of this company at what, $70 billion is way too high. if they compensate her with a bunch of stock which in my opinion is going down in value with all the of these controversies and market share they're losing to competitors. i'm not sure it's a good deal for anyone. stuart: do you think that ube