again seeing a big move in wti.wti. >> again, i don't know if u viewers caught our coverage of the millken conference. every person i spoke to thought the price of oil was going higher in the coming days and months. possibly 90 or back to 100 within next year almost everybody is bullish on the price of oil they think production which still has been a record despite recounts coming down production may start to meaningful decline and demand could come up especially if china begins to the stimulate or try to their economy. >> we'll try to get luke back on here in just a bit. the markets reacting to the fed a bit. the do you know dow jones average fuel a little bit. yields back above 2%. where does bill gross see the fed raising. what does he think about the stock market? we'll get his thoughts on the timing of a rate hike. stick with us. >> now the latest from tradingnation.cnbc.com and a word from our sponsor. tdd# 1-800-345-2550 [ male announcer ] your love for trading never stops tdd# 1-800-345-2550 even on the go.

wti off by 0.9%. of course also weighed down by the stronger dollar yesterday but surprising to see that despite the weaker dollar today, well, brent and wti is not moving to the upside. >> there's mixed messages over the list of economic reforms. the greek government claims progress is being made and an agreement could be reached with creditors next week but eu and imf officials have dismissed the reforms suggestions as ideas rather than concrete proposals. now executive board members told cnbc greece must stick to its reform path in order to achieve a quote sustainable primary surplus. in an exclusive interview, annetta asked if he expected greece to require a fresh bailout. >> that's not a decision bank versus to make at all. what is important from our point of view is that greece stays on a path of reforms and that greece continue with structural reforms in order to achieve a sustainable primary surplus. >> mario draghi thinks that qe is actually helping implemented structural reforms. do you thin

brent at 63.35 and wti at 56.15. closing at its highest level for 2015. let's talk more about oil. joining us is mike the research analyst. thank you for joining us. as i was just referencing there the oil price has recovered in the last couple of weeks but it has done so in volatile fashions. massive data moves to the upside and down side. does that suggest this recent bounce back is only temporary? >> sure it's going to continue to be volatile but we do think that oil is showing signs that it's in the early stages of a real lasting recovery. >> what about the investment case here? i've seen a couple over the last few trading days. you have some coming out and saying go and buy oil services now. what about exploration? what about production? >> we have been constructive on the emp group since early part of this year and we continue to be -- we think you need to be a little bit more selective now. stocks have done well and recovered up an average of 40% from the lows end of last year. investors need to take on more r

however, big focus on energy and wti crude oil prices volatility still remains there, the recent trend has been upward. however, the wti crude fell a touch after the actual markets closed, the futures markets after the american petroleum institute, said inventories for the past week shot up more than had been expected. we saw a little bit of a drop there. all right. >> ramin let's go back to that rally, the dollars rally. the dent in u.s. stocks overnight. >> that has been a big focus, right now it's 12 # 0 to 129.30. that compares to the levels we saw last week. we have seen it pop higher in the dollar. it rose against the euro coming up on the screen right now. traders rushing to buy the u.s. currency will not be raising interest rates soon there are still concerns about the strength of the recovery and the u.s. economy and the time line for a rate hike the latest rates from the fed chief saying maybe rates don't need to be raised until the second half of 2016. that's highlighting concerns about data and upcoming corporate earnings. so we'll see how all of that plays into it and as i

they revised up their 2015 forecast to $95 barrel and $52 barrel for wti.ent trading higher than that target at 63.15. the medium term outlook improved citing better cuts. the near term volatility could persist with saudi arabia and iraqi production on the rise but analysts see global demand picking up by the end of the year helping to offset the supply. we vn seen an 18% rise in oil prices since early april. >> if you don't want to invest in oil there are other options. marilyn monroe saying diamonds are a girls best friend and this big rock could be yours for the right price. this 100 carat emerald cut. it's expected to fetch $25 million. it's a flawless stone. they're likening it to a pool of icy water. if you want a pool of icy water on your finger. the record for any diamond sell. >> you wouldn't want to mistake this one as a pebble. look at the size of that one. there's been pictured if you actually put it on your finger you'll see how actually -- how big it actually is. >> well i'd rather have roses on my table than diamonds on my neck. >> forget ros

if we look at brent crude prices and wti crude prices on a constant dollar basis year over year wti would barrel. there's a dollar strength component in there. by the end of the year in constant currency we would have crude oil brent up in the 80s and we'd have wti pushing 70. >> at the same time some of your businesses are more important than ever. when you have an oil company and it's trying to figure out where the best properties are you call in core labs to figure that out, right? >> that is correct. when you look at the recovery factors from these they're below 10% right now. our mission is to get that recovery rate to 12 13 14%. if we can do that the return on their invested capital in projects like that skyrocket opening more areas for more exploration in production from the shales. globally, the natural recovery rate is about 40%. hiring core lab we can get that up to 42 43 44%. on billions of barrels in the ground when you add a couple of 300 basis points you're talking about a lot of crude oil and a lot of free cash flow for our clients. >> also seems like it's good free cash fl

we're higher for brent and wti. brent up by 2.35%. wti at 52.78 higher.raders cover their short positions after we saw that gain in crude. >> hillary clinton has officially joined the race for the white house in 2016. she launched her campaign on sunday with a message on twitter and this ad on youtube. she's posting photos from the road including this one here on twitter. road trip road to the van. met a great family. it's quite a -- quite a big thing now what's happening now, and very much kind of about equality for your average american that's what she's championing. >> i guess it's less about her and a lot more about the message because when she kband back in 2008 i think the focus on her personality, that didn't really work for a lot of voters and then she had president obama to contend with and he was a very very strong speaker. >> nbc's tracy's ponce joins us from washington. tracy, we got hillary clinton's announcement. what happens now? >> well, now she heads to iowa. she's in a van driven by the secret service. as you showed in that photo, meetin

wti crude down about 4 points. what about the international gauge for oil?93. down about .6%. want to take a look at gold. given the volatility in equity markets. fear over a potential rate hike has been sending some investors into safe haven assets. we have been talking about the move in bonds. up about 3 on the day. >> lest bring more flashes from putin. he is taking place in the annual national call in show where there's a record number of questions posed to him. he said he doesn't expect western sanctions will be lifted. the russian economy may return to growth in sooner than two years and says we're doing everything to fulfill the agreement. he says russia acted in an optimal way in addressing the economy crisis and he says the peak of the problems have passed and the rouble is now forming. that's an annual event in russia. now etsy prices it's ipo. the trend of the expected range. the offering raised $267 million valuing the online crafts marketplace at 1.8 billion. unlike many ipos they're setting aside 5% of shares for individual investors. etsy ceo

in 2014, we saw the sudden capitulation in the oil price, the downward trend in wti crude and brent cruderices. this is why these assets are so rich for the picking. this is why tulloqw is being driven up almost 12% this morning. this one is particularly focused in africa. maybe its assets look appetizing to the likes of the oil majors out there. bg group and shell together would make the second-biggest energy company in the world. tullow oil could be right for the picking. and bp. ever since that terrible tragedy in the gulf of mexico this share price has been down. could this be bought by exxon mobil, the biggest energy company in the world? share price up 4%, one of the biggest gainers today. back to you, jon. jonathan: thank you very much. you are spending time putting your portfolio together. rip up the script. take a breather until october. that is the prescription from our next guest. he says investors should hold proceeds as cash and take a long vacation. he is the chief economist at saks a bank. he joins us now from copenhagen. we are also joined by the global head of equity stra

. >> so we're looking at wti for the macon track at 51 and 47.we going to be looking at 20 something a barrel, $30 a barrel? what's your best guess? >> we might be in canada. that's a real possibility. oil is now backing up off shore nigeria. that's what happened last year. it's a function of u.s. emports being substituted. it's a function of whether or not libya is produce, but what we know is the oil is backing up on ships off shore, west africa, and that's very worrying. i don't think you'll get that low in wti as such, but as i said in canada, you could lies get down below 30. i think over the next six months. definitely. >> paul, just real quick question as far as with things going upside down in venezuela, do you see the possibility that that that is additional pressure coming our way with the elections that are likely to be held, that are supposed to be held the elections that i believe will be held because of the turmoil going on down there? do you think that's -- that additional pressure also it takes crude oil down, wti perhaps even as

wti at 53.97 up 1.3%. the main stimulus coming from reports overnight that u.s.ff at the margin allowing the oil price to recover slightly. >> the big talker has been the slow down in chinese growth but another big market mover will be the european central bank meeting due at 8:30 a.m. eastern. the press briefing will be in focus is what mario draghi will say and if quantitative ease as good helping the real economy because it has surely helped financial markets. you're looking at the stoxx 600 index up double digits in 2015. >> it is. it has moved my favorite security of them all. >> is it bonds. >> it's the german ten year bund. .130%. that's amazing to show how quickly as well from 1.6% there at the start of may of last year. look it's back up. it's no longer at a record all time low but very important because we'll be hearing from mario draghi later today. he's not expected to make changes but none the less significant treasure and lack of liquidity liquidity. we'll have to hear from him if that's a concern for him. >> if you wanted any indication of whether

you have to remember that crude we can't export wti crude. there's sort of a disconnect.ti could get left behind. i don't see that happening in a big way. but it is a possibility. the real possibility is that crude could bounce around $50 for the next couple of months. that wouldn't shock me. i'm not prepared to say, this is a huge buy yet. there are a lot of people who want you to think that. >> teddy is laughing at you. >> well, you know, he's done that before. >> nothing like talking your book. liz: exactly. well, let's let scott talk his book. what a book that must be on the floor of the cme. you look at the retail sales numbers today. while they did miss, they certainly give people a better sense of what happened. the expectation was to see a 1.1% jump. we got nine tenths of a jump. autos were on fire. everything from general motors to auto nation, you name it. strong auto sales. ex-autos, four tenths of a percent. do you see any reflection of that optimism in the trades today? >> number one, i think we should measure retail profits, not retail sales. so we kind of t

wti by 1.2%. brent crude off by .3%. brent and wti are on track for a 3% rise. it's hard to believe given every day we seem to be he seeing those declines and let's talk a little bit more about am. >> indeed. it's a big day. the apple watch is finally here. customers have been lining up to get a first glimpse of the new product. it's available to preorder today and potential customers can tryon the device at selected apple stores and some high end department shops around the world. the smart watch will only be available for actual purchase on the 24th of april. seema is in london. seema, i mean it's exciting. >> hello. >> what are people saying because the reviews are slightly mixed, no? >> reviews have been mixed. so far we have been speaking to a couple of customers that have been waiting outside to get in. doors just open at 9:00 a.m. to enter the high end department where apple is show casing it's apple watch. there's three different collections. it starts at $349 one. i had an opportunity to wear the $549 apple watch. it's trying to be high fashion. the que

a lot of lehman do not understand there's a difference between wti and brent. it is nothing like the sour kinds of barrels you will see in a lot of places. it is not ultra light but it is along the lighter end of the spectrum. kind of sweet crude. matt: that will still have an effect on the wti we look at here which is currently trading at about $50 a barrel. actually $52.91. brad: wti is moving a great deal on storage based on the amount of oil that is in storage in the united states. it will impact both in many ways. matt: what are you hearing from your buddies in houston about the price of oil? as we were dropping down to $40 people were saying, we could go to $20. we see the price continue to rise. brad: a number of people called $40 as the floor. andy hall was one of those who said it would not go below $40. there are a lot of people who are seeing $60 to $70 as a ceiling. no one is seeing a huge recovery anywhere between $80 and $100 for number of years. matt: we talked with a private equity manager the other day who has put billions of dollars into oil.

when you saw crude wti fall from 110 and get more than cut in half.these names, when you look at them you have to see where they factor in wti prices. mike just said that pxd kills it at $70 when you look at that. i think most of these guys other than pxd are factoring 70 80. >> all right. thanks again, mike. netflix adding to its house of original content by rebooting "full house" in a sequel named "fuller house." will it be another hit for netflix? plus a look at what a "fast money" sequel might look like starring our cast of traders here. another look at yahoo!. big turnaround in the after-hours session. now up by 1. 6% in the however hours trading session. much more "fast money" straight ahead. it took tennis legend serena williams, fencing champion tim morehouse and the rockettes years to master their craft. but only moments to master paying bills at chase.com. depositing checks at the atm and transferring funds on the mobile app. technology designed for you. so you can easily master the way you bank. >>> welcome back to "fast money." i'm mary th

wti soaring today.e believe it's trading on speculation of how likely a deal is with iran on the nukes. >> eamon javers has the latest developments on those talks, which, unfortunately, are dragging on. >> it's pins and needles time as the obama administration waits for word from negotiators on whether there's a deal or no deal on the iran nuclear program. the state department saying that secretary of state john kerry is going to stay in switzerland for another day through thursday in hopes of wrapping up talks, and meanwhile back here in washington at the white house, spokesman josh earnest said that the united states is prepared to throw in the towel on these negotiations. take a listen. >> if we are in a situation where we sense that the talks have stalled, then yes, the united states and the international community is prepared to walk away. >> that said the talks are still ongoing and they said that they are optimistic they might be able to get to a deal. no information on what would be in that deal

a lot of traders still think that we're going to see $60 on wti before we see $50.to you. >> all right. thank you so much, jackie deangelis. brian, now it is time for "street talk." i know you're excited. >> i was that excited to get to it. just couldn't wait. >> couldn't wait. first stock marriott international. up graded to a buy. it consolidated and the analysts liked the fact marriott has been an underperforming year-to-date. also the lodging cycle not over because there's limited supply growth, record occupancy, and economic growth in the u.s. and that is where marriott makes most of its money. the price target up to 100 bucks. >> yeah, and you just wonder though is that higher dollar going to impact all the travelers from europe and asia coming to the united states and maybe hurt marriott that way? time will tell. you will forgive me. i have a read here because i want to get it right. stock two, amazon.com upped to a buy from a neutral. also raising the price target to $450 from $350. the analysts there think there is room for meaningful revisions up heading i

wti by 2%.esterday we saw the 7% drop on the back of the eia report which showed the biggest growth in about 14 years. in the asian trading session that is the hang seng. we'll show you where the sang seng is right now. higher by 707 points. up by 2.7% but that's actually close to the lows of the session a whole degree of volatility here. why are we seeing the run up in the hang seng. >> what a melt up it's been today. we're up by 4% turnover incidentally at a record high surpassing what we saw in 2007. two reasons for this blistering rally. remember the markets have been closed since thursday. they came back online yesterday but there's a lot of pent up demand in energy still for hong kong stocks. the other factor is that the chinese regulators late last month permitted mutual funds in the mainland to start investing via the hong kong shanghai stock connect on the hong kong market. there's a lot of pent up money and pent up demand from the mutual funds being deployed on the hang seng after that

the iran news, put more negative pressure on brent than wti.hat impacts other refiners more than valero but generally speaking they want discounted crude. the differential narrows it negatively impabltss the group. >> when you look at energy high yield debt so hit about a high of 10% yield in december, has since backed down a bit, 8.8 let's say, is that enough of a discount in the credit side to get interested in any of the companies on either the equity or debt side given that let's say the rest of the junk bond market is more like 6.5, 6.6. are we accurately reflecting the damage that's happened yet or can it get worse? >> i think particularly on the exploration production i mentioned before many of those credits trade close to par, 7, 8% yields at par. to me that's not a reward for the risk you're taking. given the capital intensity of that busins you need that capital to put in the ground to hold your production base. $50 oil is to either continue to spend and increase debt in your balance sheet or cut off your spending and see the natural

on the screen, wti up 3%. finance there's a difference when you trade with fidelity. you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? a a. >>> twitter shares sinking on the company's earnings report. cutting guidance, eemingly raising even more questions now for investors. big action in the options market as well. that's why we have dr. j at the wall to break down what we've seen after the earnings hit the tape earlier than expected. what's the story here. >> as you know, what happened yesterday was solarity, the firm was waiting around, scraping, looking for whenever the earnings would be released. surprised everybody, that at 307 yesterday, they posted up the twitter earnings, these weren't supposed to be released until after the bell. well people didn't buy into that in a big way. right away. judge. they waited a little bit but then at 3:27 obviously twitter contacted the new york stock exchange, and said,

much more than wti. there's a huge long bias -- i think oil still has a period where it's going to go down and maybe retest the lows. >> you know, yesterday we saw some bullish calls. we saw that new -- the iranian deal or proposed deal was going to add product on to the marketplace, but we're not going to see that until 2016. >> right. >> then you said as tom said saudi bullish talk about prices firming. where do you think wti goes? have we seen the lows there? >> i think we retest the lows. whether we see a day or moment with $39, i don't know. i think we re-test the lows. it gets very, very ugly in the next 40 days. you spoke about refinery maintenance. there are other aspects. we have another round of crude oil maintenance. we're done with most of the gasoline maintenance. we're going to see some of the surplus in crude transfer into a surplus or very uncomfortable stocks of gasoline. i agree, you mentioned refining could be a little bit weaker as we go through the second quarter because they've had

wti down 2.3%. 52.73. we have the largest than expected increase based on the api report. we get the eia report today and we heard the saudi's producing at a record pace. seema, what's coming up on the show. >> heres what's coming up. bio tech shares on a tear over the last year but is the sector heading for a correction? one expert tells us how to play the volatility in bio tech and he tells cnbc he's still bullish on the commodity sector. find out where he is putting his money. plus we hear from a major shareholder who says now could be the time to invest in european banks. we're back in two. new york state is reinventing how we do business by leading the way on tax cuts. we cut the rates on personal income taxes. we enacted the lowest corporate tax rate since 1968. we eliminated the income tax on manufacturers altogether. with startup-ny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. all to grow our economy and create jobs. see how new york can give your business the opportunity to grow at ny.gov/business >>> they unoff

really shows that the market is focusing in on wti.is over $50 a barrel a very key psychological level, but a key technical level as well. back to you. >> thank you. when we come back one of the greatest hitting catchers of all time, mike piazza at the big board for major league baseball. the selloff not nearly as dramatic as the pre-market suggested. the dow is down 32 points and we're back in a moment. well, a mortgage shouldn't be a problem your credit is in pretty good shape. >>pretty good? i know i have a 798 fico score thanks to the tools and help on experian.com. kaboom... well, i just have a few other questions. >>chuck, the only other question you need to ask is, "what else can you do for me?" i'll just take a water... get your credit swagger on. become a member of experian credit tracker and find out your fico score powered by experian. fico scores are used in 90% of credit decisions. ♪ swing batter batter swing swing, batter batter swing ♪ >> welcome back to "squawk on the street" here on the floor of the new york stock exch

both for brent and wti. more rigs offline, oil is extending some of the declines. over to you. >> thank you, though i do believe it's not the lows of the day for crude, which was down by 2.7%, but nonetheless, as you can see, we are sharply lower. john, i want to get back to something you said a moment ago about wage inflation. it's great minimum wages in chains like walmart, mcdonalds and tjx and target are raised. fantastic. more money in people's pocket meaning better consumer spending. what's it mean for corporate profit margins? this is why parts struggle to get higher. we're in the upper band historically, not necessarily a problem to take earnings higher and/or the multiple higher, but earnings are not higher, and six months, could be going lower, and if you want the multiple to go higher, people have to be certain about what's coming at them. up certainty is rising, not falling. uncertainty over the fed, the pace of decline in profits begin what's happened with the dollar and increasing uncertainty with europe. volatility's going to be higher than last year

we saw another 5% gain in wti crude in new york on monday boosting energy sector shares.s a result analysts believe there may be growing demand especially in the asia region. i'll be watching out for petrochemical firms, refiners, oil and gas field developers as well as of course trading companies which use a lot of commodities in their business. in a similar context japan, as you're going to be covering ai is also look at alternate energy sources as well. ai. >> exactly. we will be covering the government's energy targets this morning. but first, what about currencies? what can you tell us about the dollar? >> yeah we've seen a slight pop higher in the dollar-yen. look at it now. 119 -- mid-119 levels. traders selling the yen following the rise in u.s. stocks. the dollar actually rose against the euro mainly on profit taking according to analysts. the dollar's gain was due to thin trading volume due to the holidays. a lot of traders coming back now, though. turning to gold prices touched seven-week highs. investors began to gain confidence that the fed may delay its rate

>> well we think we're still going to see kind of low to mid 40s for wti and we could see prices going high as 60 maybe a little bit over 60. but certainly, it's going to be contained and then going into next year things might, you know could be better. it all depends on the iran deal. if the iran deal comes through and we start to get a lot of oil from iran it's going to be hard for oil to rally. could put it in the market and put 6,000 of oil production and unfortunately, it's going to to come out of u.s. shale. that iranian oil takes market share from america. america will have to price that in. that's a simple view. >> i was going to ask you what you see happening with u.s. production. u.s. i guess is the largest oil and gas producer by some measures in the world. how do you think this oversupply is going to reverberate backwards to the supply chain here in the u.s.? >> well, look. just announced today they're pumping 10.3 million barrels of crude oil. that's a lot more than we thought. we thought something like 9.8, 9.9 million barrels. they're pumping an extra half a million barr

there's $65 on wti this summer. of those oil service stocks ofx, brian, important brakeout today above the hundred day moving ank for the first time since last july generating a strong buy here. there could be could be another 15 % upside in the names. keep in mind names tend to out perform in the early stages of the crude oil price recovery. which is exactly what's going to unfold here we think. yesterday, brian, an important tell. crude oil, as we know down 6% on the day, but the osx down just 57 basis points. that's telling you the stocks want to go higher, and the double bottom and break above the hundred day confirms that. buy crude the underlying and osx names. >> it's a buy. thank you very much. for more trading nation, go to tradingnation.cnbc.com. a major u.s. company may be about to lose its title as the biggest in the world at what it does. the champ and the new challenger ahead. >>> plus jp morgan ceo, jamie dimon worrying about a new crisis. is pimco nervous? >> plus -- >> i'm paid to be a blimp pilot.

wti will stay in that range and we will be higher for the summer.sses that presume the dollar will be weaker? >> that is the tailwagging the dog. a lot of analysts that the fed is tightening back. pretty much stable. the thing about it is it is not a rate hike cycle coming. the best case scenario may be the 25 basis points spread out. it will continue to have strength as the eu and china and other countries continue. scarlet: when you look at oil to eventually hit $66, tell us just how volatile it will be until then. bob: very volatile. increases we have seen in volatility since last year has been pretty much epic. it has been moving like crazy. movements have been much more than we have seen in the last couple of years. it is here to stay in the median and long-term. production will continue to increase. once the oil stays at $66 u.s. producers have shut down other rakes. it is really the exploration that will slow. they will be able to turn those rates on quickly. they will continue to produce as well, saudi arabia. scarlet: back to you, betty. be

wti.n word got out -- we'd been hearing there was going to be an agreement announced and oil was generally moving lower, it hit a bottom before 2:00 eastern time today. just above $48 a barrel. then as the news actually came out and we heard from the president of iran, then we heard from secretary of state kerry, we heard from the president, himself, price went up. interestingly. came off those lows. finished down 59 cents. we're trading at $49.50 right now. as for the stock market today, pretty quiet. i think it's pretty clear they're waiting for that jobs number tomorrow morning. the dow is up 85 points. as we go into the close here. the expectations are for a jobs increase for march of about 240,000, 245,000 jobs for the month. david, austin graham still with us. i didn't hear from you. do you want to buy oil at this level? or oil stocks? >> iminimum, given the iranian news, you found yourself a nice trading range you can certainly buy oil here. >> what are you expecting on jobs? >> goi

caroline: they are currently 51.88 dollars per barrel on wti .our believing the oil pricing trajectory will go? philipp: i think you have to weigh short-term factors against long-term factors. on the one hand, you have these bearish factors like the u.s. stock levels being very high. this could depress oil. then you have the saudi's and the geopolitical risks which are not as short-term. it might lay out more in the longer term. things like iran and kenya and african oil productions, this is more on the longer term. mark: how soon is it to expect iran oil to reach the market? philipp: most people that i talk to say iran production will not grow by more than half a million barrels a day this year.l so the real big impacts from iran will not be in 2015. caroline: still some time to wait. mark: thanks a lot, phillip. caroline: meanwhile, let's turn our attention to greece because it promises to pay at least the imf. the finance minister assured the imf managing director christine lagarde that greece would make 415 million debt payment by april 9. ha

. >>> wti crew posted its sixth gain. a new report finds that the longer term collapse in oil prices has caused a sharp decline in employment in cities reliant on the energy sector. the report also forecasts a decline in commercial rent prices and so-called energy centric cities. with richard york head of global occupier research at tdz. help p us understand why is london one of the cities that is being positively impacted by the volatility in oil prices? >> london is a huge city it's the world's global city. it's clearly headquarters for major oil players like shell, bp and others. because it's got a very broad base of occupiers, it's going to benefit from falling oil prices. it's a tax cut basically. if you look at what's happening in the london real estate market, you'll see a tremendous amount for office space, you'll see record levels of investment going into commercial real estate in london. so so far london is actually benefitting from that. >> this is a simple trade because energy prices are down companies can aff

wti crude at 5605 down 1% in today's trade. speaking of oil, bp ceo said the industry needs to prepare for oil prices for lowe longer. at an exclusive interview in houston he said crude could stay at current levels for, quote, several years. he also asked if bp had received any buyout approaches in light of the deal. >> absolutely not. i don't want to encourage anything like that at all. i think it's always at these times when prices change there's lots of speculations about changing. there's been one big deal. i don't feel that right now unless oil were down lower for a lot longer. >> now we have been talking a lot about yield curves these days with negative yields seen or trend toward negative yields seen in a lot of european debt at the moment. a greek yield curve very different story there. inverted. you the greek three year yelding 3.25%. and 30 year at 10% at the moment. they're saying that a grexit is out of the question. he added that the central bank would continue to fund greek banks as long as they were solvent and h

brad: wti crude is down 50% in the past year. procter & gamble is moving forward with plans to sell some of its beauty brands. they have contacted possible bidders for it hair care cosmetics, and fragrance units. people familiar with the matter say companies contacted include revlon, unilever, and henkel. super pac's affiliated with republican candidate ted cruz are expected to raise $31 million by friday, less than one week after launching, according to an associate of the senator. there are no known cases where an operation backing a white house hopeful has bank this much money in less than one week. hackers back by the russian government are believed to have hacked into a nonclassified white house computer network last year. a person with knowledge of the investigation said malicious code and other evidence points to state-sponsored russian hackers. that person said the attack was likely in retaliation for u.s. sanctions over russia. the company that owns the popular hello kitty cartoon character is investigating whether the d

good volume in wti. they're saying there was no apparent trigger for that jump in oil prices yesterday but the demand side from asia that's a really good indicator that maybe the demand supply balance is finally balancing out some what and that's why the saudis can raise the prices. >> it's signaling there might be higher demand from the big asia majors. china in focus of course but european markets were closed yesterday. we did see a big move in the price of oil. a 5.7% gain. we haven't teen that price action in quite sometime but it's interesting a lot of oil traders were getting excited about this potential rally in oil price but at the end of the day we're talking about a 5.7% move to the upside. oil used to be at $140 barrel in 2008 and now here we are in the 50s getting excited about a 1 to $2 bump. >> goldman stick talking about the 40s. the conflict in yemen has intensified with the death toll rising to 600 people since the saudi lead air strikes began. with many calling this a humanitarian crisi

wti back above $50 a barrel. joining us now at post 9, citi's chief economist.wren senior global equity strategy at wells fargo investment institute. you think the market can rise 8% with two interest rate increases? >> i think it can, simon. you know really the markets prepped for an increase hike or two. i think there's a little bit of concern over when the initial one's going to be. i lead towards september, certainly not june. but also i think that what's going to happen is consensus expectations for earnings not only this quarter, but i think for the entire year, are too low. we'll see decent economic growth, modest and we're also going to see some modest earnings gains that are better than what many people expect. >> was this your note this morning? we think the media will cover this earnings season as though the skies falling in and point out all negative possibilities that may accompany an earnings recession, don't buy it, is that you? >> that is me. i mean do not buy that. i mean you have a job to do. there's a lot of things to talk about during the day

wti up almost 3%. we're above the $50 per barrel. and brent also up almost 3%.head john and pat are back with their play books for the week. we'll digest the jobs report. we'll talk about how to play in the market. we'll give the industry picks and even name some names. we'll be right back on "worldwide exchange." >>> well the u.s. markets may be in back in action after the long holiday weekend. many investors are taking an extra day off to celebrate the easter monday holiday. let's get a check on what is open and closed. ftse cac, dax all in red are closed. australia, shanghai and thailand closed. the nikkie indown marginally. >> thank you very much. back with us on the desk is patricia powell along with john from open . thank you so much for being here early. we're trying to make sense of the reaction and futures. i know i'll get to industry picks in a moment. what we're seeing is lower interest rates, weaker u.s. dollar. >> i think we're back to the earnings issue. i think we're back to fundamental. i think you have to say well you know what is different lowe

. >> the bill wasn't as big as we thought for the second time, wti rally. and with unlead gasoline, we're hitting five year lows on inventories in unleaded gasoline, coming up on the summer driving season, and all the geopolitical stuff you cover every day, that's giving oil a real bid and oil is moving higher. liz: great to see all of you, thank you for joining us on the floor show. the markets are going back to the lows that they saw. not session lows, but the lows as the fed announced its nonannouncement. i like to call it that. big stuff happening in washington, d.c. a first for congress and japan. japanese prime minister shinzo abe walking onto the congressional floor addressing a joint session of congress earlier today. there to rally support for the transpacific partnership. that would open trade between the u.s. and 12 pacific nations. prime minister abe has president obama's support on this, but not a lot of democrats, because many of them in congress think the pact will be a jobs killer. interesting. the president is in a weird decision, he's depe

in other words it can withstand $40 and $50 wti prices. as you move out and start developing the opportunities it gets more expensive, the reservoirs get thinner, the productivity is a lot less so it takes a higher price to develop those. there is hee a range. it's hard to answer the one cost of supply because it varies for each company. below 40 $45 it does reduce the amount of growth and investment that will go into that. lot of these need $07 $75 to be economic prolific and to attract the capital investment that it's been attracting. >> are we just at the beginning of an industry-wide cutback because of what has happened? >> i think you're seeing that, the service companies are the leading indicator because the effort has dropped off. you see the big service companies cutting back. we're having to make some personnel reductions around the world. you see other companies announcing that as well. so yes that's coming and we're all watching to see how long does $50 or $55 oil persist. >> which is why we saw a major deal announced this week,

. >> we were up $3.10 in your 6% move wti finishing at $56.39. now, first reasoning for this was that we got an eia inventory report this morning. it was a small build, much less than we've seen in recent weeks and months. traders took that as a positive sign that the supply/demand balance is starting to come into play for the bet per meantime geopolitical tensions in the middle east also causing some nervousness. definitely adding to the upside movement here. but still, on the fundamental side it's going to take a while to work itself out. technically we keep driving higher. the question is really is this a head fake or is it the real thing? have we finally found a bottom? i will tell you this we've seen a lot of volatility this year. moves of 4% to the upside and the downside, 22 times this year. those are big swings in either direction. so it's really hard to say if today's move is really monumental or not. the market certainly will tell us in the coming days. back to you. >> that is for sure. jackie, thank you very much. let's get to our "clo

wti lower, around $57 a barrel. brent was up for most of the day. then it turned negative.igher as well. profit taking definitely on yesterday's gains. also some position swearing as we go into the weekend. we did get those rig count decline numbers, she meant to say, 20 straight weeks of declines, but the market shrugging that off, really because it's looking for hard data on production. it doesn't even care about the inventory numbers that much that we get on wednesdays anymore. wti, according to traders, probably going to be rangebound until the next catalyst $55 to $58. back to you. >> all right, jackie d. thank you very much. >>> let's get on now to trading nation and take a look at amazon.com which is surging after earnings. jason robbins specializes in technical analysis. gena sanchez, a macrostrategist. jason, let's first look to you and the charts. do you see more upside in amazon, which has already had a red-hot year. >> it's had a red-hot year but i do see more upside brian, for one major technical reason. hopefully you have the chart up there. what i did, i conn

wti. that's at $52. brent north sea crude is at $58. >> that almost feels like a short squeeze. >> let's all make sense of this. all of our guests today except rick are over at our set at the new york stock exchange. they include kathy jones from charles schwab, jeffrey cleveland from payton and regal. will is with us. dick burr ridge from rm b capital and mr. santelli in chicago. rick, let's just start with you. what do you make of today's gyrations, the dollar move. kelly is really hot on that one. oil very strong today. the yields really backing up along the long end of the curve and then the rally in the stock market here. what's going on? >> well first of all, i had ear plugs in most of the day to keep my head from exploding on comments by fed of new york gentleman, mr. dudley. i think his exact comments and i'm paraphrasing were what we're seeing in the marketplace, and this is to defend what monetary policy may look like down the road is nothing like the risk taking of '05 to '06, and the reason w

wti was up 3%. brent was up 4%. and one trader actually used that strength to put on a bearish trade. when the etf was 17.60, there was a buyer of 66,000 of the may 16.5 put spreads. that's about $3.5 million in premium. if the etf is below 16 and 14.5 on may expiration, they can make up to almost $10 million. when you think about this trade, it's kind of interesting to me, because here's the etf, the uso here. it's trying to put in a little bit of a bottom. it got down to almost 15. it was 17.60 today. and this trader is really looking to take advantage of a move to the lows. i'll just make one other point. when you're trading an etf that is as active as this one where option prices have lifted, one of the reasons i think they probably bought a spread, this is implied volatility. this is the price of options. look at the ramp as the price of the commodity has gone down. to make directional bets, you need to probably look to offset some of that premium. >> for more "options action", check out our live show, 5:30 p.m

little short on time, i want to get your thoughts on two quick things in terms of oil in the u.s., which wtissarily correlated to what you were prepared to export. but i'm curious for your view. where do we bottom out here in my sense, we probably have bottomed. >> you think so, this quarter? >> yes, because you always have to allow for the financial plays that come in and look at trends and try to be a few months ahead of the physical. >> it's clear that having dropped 1,000 rates in the u.s. we're going to have an impact on production, it might take another few months. but i think the worst is now behind us. and the correction mechanism has started. i may be wrong, but by a few months it won't matter much. >> you're essentially saying that oil has bottomed. it's going to be choppy. but the product cuts we've seen are going to play out through the rest of the year and we may have seen the lows already? >> yes. >> so high 40s may have been the low point for ti and on brent would you say we're in a concurrent phase? >> then you have to tell me politically weather we're going to, eliminate the