for the week all prices are down by a good five percent of the beginning of the week with west texas intermediate we stored at around seventy two dollars a barrel now we are down to a good six the seven there are rumors that saudi arabia opec and to russia actually my dear decides to increase production next the months still rumors but it had quite an effect and oil went down and was it all thought the stocks of the big oil companies and there was also the reason why wall street overall traded at a bit lower here in the friday session for the week wall street is still up investors slipping on that oil slick against call to have a great weekend thank you. in the past germany has accused china of encroaching on industries vital to german national security and locking out competition from the domestic market well now angela merkel is in the tech hub of shen's and was one message let's hit the reset button and work together in developing digital industry a glimpse into the future chancellor merkel is getting to know the new china here in shenzhen this trip includes a visit to i carbon x a startup usi

oil prices being the west texas intermediate oil prices here in the united states for the first timeince november twenty fourth teen reached the crucial seventy dollars mark per barrel but then we got word from the white tells that u.s. president donald trump is probably going to announce his decision on the iran deal on tuesday and that moment we lost a little bit of steam when it comes to the price of oil and also the biggest gains here on wall street were gone. almost straight to the ends quarter thank you. the future of air france is on the line a strike is pushing the airline on the brink of bout bankruptcy the c.e.o. has resigned in the government says it won't step in and all that seeing shares closed almost ten percent lower on monday. yes the strike is biting hard on monday and fronts union members walked out for a fourteenth day ignoring warnings that they could put their employer out of business the dispy just cost the airline three hundred fifty million euro so far. many crew members don't agree with the union though they showed up to work and helped air france avoid an a

in the way in say session we surpassed the seventy one dollar mark per barrel meaning the west texas intermediate oil price that gets traded here and we saw accordingly that oil stocks actually were among the biggest winners here on wall street and what does that mean then for the u.s. economy. well it's not just that oil prices are rising buzz other commodity prices as well and that actually could eventually lead to more inflation more inflation my to mean that the federal reserve has increased interest rates even more and all of that has. worked out a lot for the u.s. economy if we think about high commodity prices that is a problem for u.s. businesses for industrial companies for airlines who have to pay more for their fuel but also consumers have to pay more when they fill up their tank so there could be some negative implications with prices on the rise and then also what we did see is the possibility of higher interest rates was a drag on all the real estate companies here in the u.s. and in other news in the end you've got well disney putting out some fairy tale numbers a fairy tale reacti

wti, west texas intermediate and as you take a look at this, a lot of contraction and supply going onay not be producing very soon, 3.8 million-barrels into the marketplace every day, opec constraining production is too, so that's been big pressure on prices. cheryl: brent prices will affect europe, this isn't how we opened at all, the ftse is barely in the green. pressure in europe. dax down. gerri: mix. cheryl: coming up, finally some justice as the fcc hits robo caller with massive million dollar fine, you go justice department. not too late on getting on mother's day deal, mother's day is this weekend. you're watching fbn:am. ♪ ♪ you said you're not like me, ♪ ♪ never drop to your knees, ♪ ♪ look into the sky for a momentary high, ♪ ♪ you never even tried till it's time to say goodbye, bye ♪ ♪ everybody fights for a little bit of light, i believe. ♪ geico motorcycle, great rates for great rides. >> those hostages came out with respect. we didn't pay for them. we are going set the table. we are going to make a great deal for the world. cheryl: three americans freed from north korea

trouble so things are heating up and in the markets oil was up after trump's announcement with west texas intermediate trading north a seventy dollars per barrel today at nymex and brant crude trading in london up three percent earlier today pushing seventy seven dollars iran is the third most productive producing member of opec responsible for about three percent of global oil supply or two point five million barrels per day. as a u.s. leaves the iran deal china prepares to swoop in filling an empty space china is one of the signatories to the two thousand and fifteen iranian nuclear agreement and with the u.s. out the asian nation now is in and playing a bigger role in middle east diplomacy artie's alex the highly bitch joins us from toronto with more alex although the u.s. may be gone key european players russia and china have remained a part of the deal so far iran seems to be keen on continuing to play ball at least a little bit moving forward what can we expect to see from china in particular. china is an interesting one you know we've been calling china the sleeping dragon forever but it looks

we had oil prices with the west texas intermediate oil prices. from the first time since 2014.hen from the white house, that u.s. president donald trump was going to announce the around deal on tuesday. we lost a little bit of steam when it comes to oil. >> thank you. global travel is a trillion dollar industry but globetrotters are leaving a much bigger carbon footprint than previously thought. a new study shows that tourism accounts for 8% of all greenhouse emissions. the biggest single contribution is international air travel. scientists are saying stay earthbound if possible and use public transport. taking a closer look at the verdict in an incredible court case. >> a greek court has cleared five humanitarian volunteers of smuggling in a case seem to have major implications for the migration crisis in europe. the volunteers were standing trial on the greek island of le sbos. one of them travels to the island immediately after seeing the infamous photograph of the syrian popular washed up on a turkish beach. he and the other volunteers spent months rescuing volunteers -- re

oil prices being the west texas intermediate oil price here in the united states and for the first timeince november twenty fourth teen reached the crucial seventy dollars per barrel but then we got word from the wife tells that us president donald trump is probably going to announce his decision on the iran deal on tuesday and that moment we lost a little bit of steam when it comes to the price of oil and also the biggest gains here on wall street were gone on a wall street quarter thank you. global travel is a trillion dollar industry and an important source of income for many developing countries but globe trotters said leaving a much bigger carbon footprint than previously thought a new study says tourism accounts needed eight percent of all greenhouse gas emissions that figure is four times launches in previously estimated that's according to the journal nature climate change the biggest single contribution to its international air travel a scientist suggesting stay earthbound if possible and news public transport. back of your brain now taking a closer look at the verdict in an in

barrel for brant crude traded in london at the intercontinental exchange futures europe and west texas intermediate traded at nymex in new york was trading today at above sixty two dollars per barrel the average price of gasoline for regular gallon of gasoline is two dollars and eighty nine cents that's actually up fourteen cents in the last month and up almost fifty cents in last year as this is occurring u.s. shale drillers are investing increased capital even more than they are making seventy five percent of shale companies spent more than they earn in the first quarter of the year and u.s. shale producing companies have assisted in boosting u.s. oil production to all time highs of more than ten million barrels of production per day the shale companies seem to have been pumping their profits back into operations during q one and here to discuss oil prices and much more is rosy horner currencies in future expert at simpler trading as you welcome back we appreciate it when you spend time with us it's always insightful we never have enough time though let's get right to it what's your take on the s

barrel for brant crude traded in london at the intercontinental exchange futures europe and west texas intermediate traded at nymex in new york was trading today at above sixty two dollars per barrel the average price of gasoline for regular gallon of gasoline is two dollars eighty nine cents that's actually up fourteen cents in the last month and up almost fifty cents in last year as this is occurring u.s. shale drillers are investing increased capital even more than they are making seventy five percent of shale companies. more than they earn in the first quarter of the year and u.s. shale producing companies have assisted in boosting u.s. oil production to all time highs of more than ten million barrels of production per day the shale companies seem to have been pumping their profits back into operations during q one and here to discuss oil prices and much more is rosy horner currencies and future expert at simpler trading as you welcome back we appreciate it when you spend time with us it's always insightful we never have enough time though let's get right to it what's your take on the shale fol

a year ago and just below fifty dollars a bit at just below fifty dollars a barrel today west texas intermediate was trading in the upper sixty dollars range but that's down almost ten percent from just a week ago and brant crude traded and wanted topped eighty dollars a few weeks ago trading in the upper seventy's today what does it all mean here to help sort it out is the founder of peak prosperity dot com chris martenson chris we thank you for being with us you're always so great to join us there was news out of the st petersburg economic forum last week that the saudis and the russians may actually increase oil production after holding production down with the other opec members what's the latest on that. well this is a really interesting development in that seemingly russia and saudi arabia have decided on their own or together to you know talk about upping the output targets for both of them the rest of opec was not really part of that discussion and of course is going to create a very contentious opec meeting coming up and this is very unusual for saudi arabia to go out of the opec fold l

a year ago and just below fifty dollars a bit at just below fifty dollars a barrel today west texas intermediate was trading in the upper sixty dollars range but that's down almost ten percent from just a week ago and brant crude traded and wanted topped eighty dollars a few weeks ago trading in the opera seventy's today what does it all mean here to help sort it out is the founder of peak prosperity dot com chris martenson chris we thank you for being with us you're always so great to to join us there was news out of the st petersburg economic forum last week that the saudis and the russians may actually increase oil production after holding production down with the other opec members what's the latest on that well this is a really interesting development in that seemingly russia and saudi arabia have decided on their own or together to you know talk about upping the output targets for both of them the rest of opec was not really part of that discussion and of course it's going to create a very contentious opec meeting coming up and this is very unusual for saudi arabia to go out of the opec fo

for the recall prices are down by a good five percent at the beginning of the requires a west texas intermediate resort to buy at the around seventy two dollars a barrel now we're down to a good six the seven there are rumors that saudi arabia opec and to russia actually might do decides to increase production next the months still rumors but it had quite an effect and so oil went down and was that also the stocks of the big oil companies and that was also the reason why wall street overall traded at a bit lower here in the friday's session for the week wall street is still up investors slipping on that oil slick call to have a great weekend thank you now it's back up to sarah and a pivotal vote absolutely and fact at this hour the last votes are being cast in this historic referendum in the country with polls set to close in less than an hour people there are deciding whether the country should loosen its near total ban on abortion as it currently has some of the most restrictive laws in europe ira citizens living abroad aren't allowed to vote via post or in embassies so many have been flocking

trouble so things are heating up and in the markets all was up after trump's announcement with west texas intermediate trading north a seventy dollars per barrel today at nymex and brant crude trading in london up three percent earlier today pushing seventy seven dollars iran is the third most productive producing member of opec responsible for about three percent of global oil supply or two point five million barrels per day. as the u.s. leaves the iran deal china prepares to strew been filling an empty space china is one of the signatories to the two thousand and fifteen iranian nuclear agreement and with the u.s. out the asian nation now is in and playing a bigger role in middle east diplomacy r.t.s. alex the high leverage joins us from toronto with more alex although the u.s. may be gone key european players russia and china have remained a part of the deal so far iran seems to be keen on continuing to play ball at least a little bit moving forward what can we expect to see from china in particular. china is an interesting well you know we've been calling kind of the sleeping dragon forever but it

a year ago and just below fifty dollars a bit at just below fifty dollars a barrel today west texas intermediate was trading in the upper sixty dollars range but that's down almost ten percent from just a week ago and brant crude traded and wanted topped eighty dollars a few weeks ago trading in the upper seventy's today what does it all mean here to help sort it out is the founder of peak prosperity dot com chris martenson chris we thank you for being with us you're always so great to join us there was news out of the st petersburg economic forum last week that the saudis and the russians may actually increase oil production after holding production down with the other opec members what's the latest on that. well this is a really interesting development in that seemingly russia and saudi arabia have decided on their own or together to you know talk about upping the output targets for both of them the rest of opec was not really part of that discussion and of course is going to create a very contentious opec meeting coming up and this is very unusual for saudi arabia to go out of the opec fold l

barrel for brant crude traded in london at the intercontinental exchange futures europe and west texas intermediate traded at nymex in new york was trading today at above sixty two dollars per barrel the average price of gasoline for regular gallon of gasoline is two dollars and eighty nine cents that's actually up fourteen cents in the last month and up almost fifty cents in last year as this is occurring u.s. shale drillers are investing increased capital even more than they are making seventy five percent of shale companies spent more than they earn in the first quarter of the year and u.s. shale producing companies have assisted in boosting u.s. oil production to all time highs of more than ten million barrels of production per day the shale companies seem to have been pumping their profits back into operations during q one and here to discuss oil prices and much more is rosy horner currencies in future expert at simpler trading or she welcome back we appreciate it when you spend time with us it's always insightful we never have enough time the let's get right to it what's your take on the shal

production remains at a record high, and that production caused a bit of a selloff in the west texas intermediaterude futures. but clearly, it is a bullish time right now. view that it is dangerous for investors to cut their bullish bet on oil. haidi: thank you so much of their su keenan with a market update from new york. this is what we are seeing going to the friday session here in australia. trading in new zealand going underway just now, we're seeing it flat. we looking at more pressure coming onto the kiwi. morgan stanley sees another 4% decline by year and. that is on rising debt concerns and declining terms of trade. sydney features a bit more positive, about .25% higher your riyadh aussie dollar at 75.1 two, and the kiwi continuing to put on some gains their. we talked about commodities, oil with brent hitting $80 a barrel since 2014, coming off let a little bit, and wti holding at $70 .45, and the broader commodities index is putting on a show, about point 25% higher. let us get the first word news now. >> european leaders are presenting a united and a determined front of against propos

one is west texas, the other is brent crude, typically the european oil price, both prices dropped today, brent crude was down 1.796, dropped today, brent crude was down i.7%, west texas intermediatepresident trump said he would reimpose sanctions on the iranian oil industry. many people think this is temporally and oil prices will rise in the long term. another thing that probably impacted this is strong statements from europe suggesting that they will not be following the us lead when it comes to be imposing sanctions. boeing has deals worth nearly $20bn with aseman airlines and iran air — what are they thinking? boeing has said it will follow the us have and leeds when it comes to doing business with iran. but it comes to doing business with iran. but that is a significant hit on the bottom line of the company. some other business news now. a payment of between £10,000 and £13,500 should be given to the young, and pensioners should be taxed more — that's according to a new report in the uk. the group's chairman, lord willetts, said the contract between young and old had "broken down". there are now over 1.5 million families bringing up their kids in private rented sector with n

the point i'm driving at is $71 a barrel in west texas intermediate, $3 a gallon on unleaded regular doesn't have the same impact today that it did five years ago or ten years ago. >> and fuel efficiency in vehicles much higher >> you're right to ask the question we can't ignore it, but this isn't the level to freak out at. >> that's true, and there's some extra that the consumer feels because of the tax reform, right? at the same time, we're still higher on the price of gas versus a year ago levels i mean, psychologically, i don't know, i could see opening up your wallet and thinking, i'm paying a little more here. i'm not going to go to the convenience store or the gas station and buy the extra can of coke or the pack of cigarettes or whatever you buy there. >> jim is right. energy independence in the last decade has decreased meaningfully in the u.s. the u.s. can withstand a much higher gasoline price than it has in the past. that said, as we get to about $100 a barrel, we do start to eat into the entire tax savings we got from the trump tax effect so we still have some room to ru

west texas intermediate come up very modestly. basically doing nothing. gold doing nothing.milestone in europe. taking a look at a five-year chart, we broke the $80 a barrel, maybe meaningless, but a nice round number before closing a little bit below that. those are the market minutes. julia: breaking news, the senate has just confirmed gina haspel as cia director, after opposition from her involvement in the w bush era interrogation. rand paul, jeff flake, siding with most democrats and voting against this decision. we also had several democrats, including warner and the donnelly, and heidi heitkamp, all supporting the nomination. she has been confirmed in the senate now. scarlet: for more on market action, we will bring in jim paulsen from leuthold weeden. as we look at big caps struggle to make headway, one step forward, two steps back or vice versa, small caps continue to go higher. russell 2000 at a fresh record high. doesn't have anything to do with rising yields? are rising yields dissuading people, pushing them to small caps? jim: my take is that many people attribu

westech -- west texas intermediate, the lowest close in three months. take a look at the chart -- or at least the selloff -- you can see we have been running toward $72 a barrel. big drop in the past week. just close in on the one-week chart, you can really see the decline. mrs. is the fifth straight decline for texas intermediate. it had a loto do wh russia and saudi arabia talking about boostingcaps. let's go to the one-week chart if we have it for oil. that has brought oil chances down, more than a 3% drop in the latest trading session, which is the biggest one-day drop we have seen in a while. back to you. david: su, thank you so much. busy monday morning across the region. one last look at italy. yesterday there was a bond auction, ahead of a fairly bigger one today. look at how it is collapsing. there is your bid to cover, 1.9%. it takes you all the way back to 2010. it is one to watch on your gtv. yvonne: we talked to our guest ecb maytant, said the have run out of ammunition on how much they can come to the rescue of italy. italy'seady own 1/4 o

we're not exporting nearly as much as the west texas intermediate is completely in disarray as a priceorum because of how much we're exporting. we shouldn't be using wednesday. but it is true that if you go back and see what caused oil to spike to begin with, it was the saudis and the russians. the saudis and the russians, are the only two places in the world that have enough spare capacity to impact the price. each one of those can produce a million barrels. we do not have any spare capacity those looking to us and say we need to pump more. we can't 11 is our max. >> 11 is our max. >> there's bottle neck and you need trucking. that's why union pacific union pacific is going to say what i said this week. and the stock doesn't buy into any weakness. >> they need to come down. >> you said that last week you also said 2.75 on the ten year we made progress in that direction. >> it's good to be the king. >> wow yeah you are feeling confident lately you'll say something that is going to be completely wrong. >> and at&t. and the government is going to win the at&t case. like the dean of penn

let's go to dominick the center of the action today >> what we have now is the gains holding west texas intermediate close near the best levels of the day wti about 71.08. crude futures, 17.14 now that the u.s. exit from the nuclear deal with iran is in the books, it's fair to say geo political risks are more elevated than they were before you add to that some of the more bullish inventory reports you got from the private sector. fewer oil supplies are existing now over the course of the past week and you get the highest crude prices we've seen since november of 2014. we have regular unleaded gasoline prices. about 20% higher than it was the same time a year ago back then, 2.34. back over to you >> thank you >>> riot block chain which saw its share skyrocket after changing its name from a biotech to a block chain company held its first shareholders meeting today. cnbc was there, the company would not allow cameras inside the meeting. we caught up with john o'rourke afterwards, the company disclosed it had received a subpoena from the sec. we asked o'rourke what the sec is looking for >> i cannot com

of futures trading tied to crude oil announced today the amount of open interest for wti, west texas intermediaterude oil, hit a record and 1.3 million contracts per day on trade, year to date to april, 18% bump from the same time last year. with this talk, crude oil interest is through the roof, a record number right now, and more people are trading crude oil contracts. you get the sense this is jockeying for position around what mike said, a blistering run for crude oil prices just through the bottom back in june of last year to where we are right now, so a lot of things to watch, but iran is a force to be reckoned with with overall production inside and outside of opec back to you. >> fascinating, dom, thank you john, to you, that tells me it's clearly a lot of speculation, a lot of wall street in the market, and it might have been pushing up the price of oil lately, even if they are doing what are fundamental reasons, we'll see if that comes to pass, but your position on energy here >> well, our own position is if you look at energy in the s&p 500, it's by far the best performing sector as we

been up we're seeing more of that today as you can see here with prices for that front month west texas intermediatede topping $70 for the first time since late 2014 same thing goes for that price that also caught a bed and hit their highest intraday levels in that time span you got geopolitical concerns part of the story, speculation over what happens in the iran nuclear deal, will president trump back out of the deal, you've also got concerns about venezuela slipping more into economic crisis and all of that leading to that bullish oil trade. >> all right, dom, thank you very much. >>> we got four months into the big corporate tax cut, and a big question that many are asking is where is that money going. according to s&p global's howard silverblatt, cap x spending is up 21.4% year over year for the s&p 500 companies while buybacks are up 46% so is this a sign that the tax cut plan is not having the direct impact on capital spending, among other things, that it was intended to. thoughts from jared bernstein and dan mitchell welcome back to both of you. should we be worried so much if in fact buybac

they managed the hold right around the 50-day moving average, that average price, $67.50 west texas intermediatet to give you an idea of where the range is, we are near the lows >>> so, during our stock draft, the stevens tech traders gtsot a lot of grief for being conservative and passing on bitcoin. >> bitcoin, to me, is the one that stands out. i thought go number one although when i saw the stevens guys and gals were number one, i knew they wouldn't go that route because they had professors in their ear saying, this is how stocks work and blah, blah, blah but bitcoin is fascinating >> oh, yeah, those kids were so dumb, right? because look, in the months since then, bitcoin is down nearly 20% the worst performing of the 24 choices they had in the draft. so they are looking pretty smart right now. let's bring in the stevens tech traders. danielle, lauren, peyton, and madison along with tim seymour, who is neck and neck with mr. wonderful to refresh our memory here we go stevens, you picked facebook, disney, sage, and tim, you picked amgen, drop box, and chesapeake good to have you here. you go

i'm not sure if that is brent or west texas intermediate. goes higher from here. >> iranians don't want it much higher. historically, opec is not able to keep it together, always countries cheating. charles: sure. >> in this environment where iranians are enemies with the saudis and russians, they're working together which is shocking to people in the markets. how much that lasts is not clear. charles: saudi arabia doesn't cheat and meet their goals, right? known that these other guys are going to cheat. >> to some extent. they have not been cheating like years past. the saudis are key ones. they have excess production. they could make up what we're losing from the iranians. charles: ironic, to me feels a few years ago, started this, deliberately oversupplying the market to derail the american fracking revolution. they need it to go up because of big ipo. >> they tried to kill frackers but weren't able to. they have other issues to deal with. charles: greg, thank you very much. appreciate it. >>> california is requiring nearly all new homes

what about this oil story, the idea that maybe it can go to 100, that would be bret, 95 for west texas intermediate they are notoriously difficult to predict. prestigious banks talked about oil coming down to 15 or 25 and now we are sitting down around 70 and they are telling us it'll go to 100. we produce a lot here, we may be the biggest producer to date in the whole world so high energy prices isn't bad for everyone. charles: job creator in america? >> good news there. liz: look at the russell 2000. charles: we could hit all-time high today. ashley: i want to talk very quickly on oil to give you a number, 10.7 million-barrels per day that's what the u.s. kicks out. russia has $11 million of barrel, russia is top producer. number one to becoming the oil producer of the world. charles: way to get it out, little higher prices understanding that it means a lot more americans have a job. thank you all very much, take a quick look at equity futures. it's been up all morning long, remember, the dow jones industrial average up six sessions straight. we see it up now. nasdaq stocks are down. let's take a

west texas intermediate i want to bring in watcher bill phillips 70 that's a big number and it was notong ago they were talking ab two handle in the west. >> oil and any time there's conflict in the middle east you typically see oil begin to rally and we have good production numbers so that's something we're watching and run up on that so staying equal weight on energy. >> cost on production number it is gets better and better. and dramatic decline in inventory a build recently but does it feel to you that perhaps the american producers understand that they were getting caught in this sort of opec trap as it goes higher they started to produce more and shoot themselves in the foot. do you think the industry has a discipline because saudi arabia is has made it known at this new opec meeting to get to 80 a barrel. ferlg weal see the wild card and u.s. producer i think my view is when they see the price go up they start turning on it and producing more. but no discipline there. not much discipline and a lot of former wild caters so they have it in their blood to produce when it is high. >

ironically pulling bng on the eve of this news i'm not sure but could we go well above 7 in west texas intermediatell see over the summer months -- a continued slow rise in the oil price. mainly because global demand is strong. and krnghtses can't keep up production down are from 1.5 last year, of course, they're down from 3.5 million a couple of years ago. and so -- this continued degradation -- of the venezuelan oil company is like a disease. and they can't cure it. i mean, my goodness you've got a national guard major general running -- who knows nothing about the oil business. the phillips just won a $2 billion award from an international court of arbitration and they're capturing some of the assets in the caribbean, and as part of their -- it's just a mess i want to say overall mess but we always appreciate your expertise when you come on. thank you very much. >> you bet charles. i want to bring in senior global equity strategist. scott, the president's decision today is assuming that america pulls out of iranian nuclear deal its effect on the stoocialght. >> well charles, obviously, there's a