wti wrapping up its best week since the end of march. chart master said it could be headed to mid to high 80s. it's at 80 bucks now. what's next? carter worth back with an update. >> hi. i think you stick with it. energy obviously a very volatile area of the market, and of course, you know, as all k commodities are, wti is prone to headline news. but let's look an oil and then the oih drillers. one way to draw the lines. again, lines are a judgment, right? mine of course because i drew these, and one can draw them any way one wants, but that's what my eye sees. let's put in a downtrend line. first chart compared with a clear move. it's a reversal formation. we had energy, crude at 140 a barrel. ukraine invasion, and of course it drops to almost 65. here we are at 85, and i think we're going towards 90. i would just stick with it. as it relates to the energy shares market, oih really took it on the chin, dropping some 95% if you can imagine such a thing, to covid low. look at another way to draw the lines. these are weekly. we've moved ab

wti is back above $90 a barrel.limb in recent months, but it is different for solar stocks. t that sector is falling to a three-month low. pippa stevens is here with more. >> frank, solar installations fell according to the new report from global markets as the industry battles rising rates and backlog and supply chain constraints. that is leading to lackluster sentiment to stocks. despite that i.r.a., the industry is facing growing pains and more renewables are added to the grid. the solar space has given up all of the gains since president biden's election. for the quarter, it is now down 25% on track for its worst three-month stretch since 2016. still, the distinctions need to be made within the space with several firms noting utility scale players are better positioned. jpmorgan chase pointed to next tractor as the top pick. bank of america reiterated the buy rating on the stock pointing to secular revenue growth and a track record of execution. residential solar is more challenged with sun run and sun power all

we have a narrowing of wti -- brent premium to wti.trades $4 premium to wti, now it's trading at $2. it could go to parody, pay attention to what's going on there. we had a difficult time yesterday in the crude oil market. there were rumors the saudis with discon disconcerted about t that crude was getting close to $100 and there was talk they would end their embargo earlier than anticipated. watch the term structure. the term structural came in for wti and brent yesterday rather dramatically and the term structure will change before the direction of prices. but i think at 95 to $96 $96 foi is an extremely high price. maria: we've got the august pce number coming out this morning in an hour and 15 minutes. economists are expecting prices toss be up two tenths of a percent month over month and 3.9% year over year. do you think we're going to see the reflection of spiking oil in this august number? >> i doubt that we get anything more than two tenths of 1% month over month. it's the year over year number that people will pay attention to

stocks, let's take a look at oil right now, as you can see oil is reversing course but not by much, wti, saudi arabia and russia and were just learning this this morning, a few moments ago are planning to extend oil production cuts through the end of the year. apparently vladimir putin and mohammed just finished up the phone call, that is breaking, that's bringing lpl technical strategist adam turnquist. here we are under the biden administration and were dependent on foreign oil not just the saudi's but the russian component which is more troubling than anything. your reaction. >> when we look at crude oil or wti it's too much too fast for the market to absorb running a day winning streak in predicated on the support from opec plus notably the saudis and russia extending the production cuts, that's an ongoing theme throughout the years since beginning of the spring and starting to shore up the supply side of the equation, on the demand side the recent report from the international energy agency highlighted the fact that were at record high use of oil hitting 103 million euros per day a

that raises questions in the market in supporting energy stocks. 93 is big for wti. is that sustainable? dani: i have a chart of the term premium. new york fed, calculated a complicated matter. can i go into details? jersey told us it is now above zero. you could be skeptical. you could say term premium now tells us, the fact it's above zero for the first time since at least a year ago says to us we are now needing more compensation to take on the risk of duration. something has changed in the macroenvironment. it doesn't make sense to have a negative term premium, which we have had for the past seven years. there is risk on the long-term and investors want to be paid to take it. alix: joining us for the question of the day, are you getting paid enough to take risks and where, christine and michael. do you think we are getting paid enough? guest: if you are asking a bond investor, the answer is no. looking at the term premium chart, it is incredible that for the past two years investors have not been getting anything when it comes to holding bonds. in this environmen

xle, oih, wti all on the long side. >> brian?ll some premium in this market and dell is one of those places so looking to sell the october 65 put in dell. >> okay, and mike, you get to take the last one. what's your final trade? >> yeah, i think energy has certainly more room to the upside, and one way you can look to play that is by using in the money call spreads. that's a way to offset the extrinsic premium. >> energy has been a hot topic all over the air waves. that does it for "options action." a special series "mad money back to school with jim cramer" starts right now. have a good long weekend. >>> my mission is simple, to making money. i am here to level the playing field for all investors. i promise to help you find. mad money, starts now. >> welcome to mad money. i am just trying to help you make some money. my job is not just to entertain but to teach you. call me at the number on the screen. there is a gaping hole in the american education syste

wti and brent crude. wti at $90.65.arrel -- at new highs at $94 a barrel. lisa a: this will feed into oil but not enough for growth. this is why europe is -- jonathan: a very toxic brew. the united auto workers of starting an unprecedented strike. the president saying the strategy will keep companies guessing and will give our national negotiators ask them leverage and flexibility in bargaining and, if we need to go all out, we will. everything is on the table. even said to address the strike later today. they are not sure what they will say about this yet. tom: i am wondering if he is capable of stripping away the mythology he grew up with because the strike i saw last night is not the mythology of the american labor economy. it is a new phenomenon. jonathan: the think it is a coincidence that tesla is having its best week of the summer going back to june? lisa a: i would guess not and also that tesla has been rocking on all sides of matter what happened. this is the crux of the issue. the electric vehicle makers and t

brent and wti are trading in backward asian, that is a very bullish structure. it indicates tight supplies, the front end of the curve is more expensive than the backend. that is about a dollar difference. traders and brokers say this happens as premiums for real world barrels so higher. especially here in the u.s.. oil is having a relentless search and it is starting to be a major issue. we are seeing its impact trading, wall street financial advisors telling their clients to jump in to oil stocks. we know that on monday the saudi oil minister and -- at a canadian conference talked about keeping markets stable, which has caused concerns. output plans will be reviewed every month, but they have extended their output curbs. it is putting pressure on an already tight market. haidi: how much should we expect us to show up in the headline inflation in september? stuart: since oil prices act through gasoline prices, we can track the average daily class lien -- daily gasoline price in august. right now it is about flat if we are not seasonably adjusting. we always ant

. >>> right now on oa, crude's big climb over the last three months, a wti jumping close to 30%, oil now at its highest level of the year is now the time to trade or fade? the energy stocks, the technical take straight ahead. >>> as uaw workers hit the picket lines we will look at the action in the names beyond the big three. how will stocks in the auto complex react to detroit's labor struggles. >>> later, can fedex deliver as it gets set to report earnings, charting the next move in the airlines and the semitough week for the semiconductor sector. i'm melissa lee, this is "options action." mike khouw, carter worth, and brian stutland on the desk tonight. >>> wti at its highest level, and brent crude $90, helping efts like the xle and oih post healthy gains, chart master is here to tell us if we should ripping or dripping. >> you're getting reports, we heard earnings out for several, and saying, look, forget the labor costs, which are a problem ongoing but we've got a fuel problem. it's just about sequencing, oil was hated, now it's loved. look at this first chart. that's a major br

and so wti, the first chart you'll see when it comes up on the skreb is a well-defined bottoming outtion, a bearish to bullish reversal buy. left for dead. just two or three months ago at 65 consensus was recession, going lower, china won't help, and now, of course, something all together different, you're going to head to 90. you can draw the lines this way, or you can draw them as you'll see in the next iteration, depicting the well-defined down trend line which we've moved above. let's look at oih, the drillers, of course, this is a very sort of important area within energy, and you'll see here coming up how the charts are sort of -- well, this is xle. excuse me, i was thinking oih, but xle, no lines, no drawings, look at the next iteration. look how precise these trend lines are, the word or the phrase to the penny comes to the mind. put in some arrows and you can see that literally, to the penny, xle has bounced over and over and over off that up trend line and now these converging trend lines, we're breaking out from the apex of the formation. you want to be long xle, and of co

wti crude climbing more than 2% and notching a second straight week of gains. earlier in the week and settled today at more than $87 a chair. the gain taking energy stocks to new highs. you flagged the move in phillips 66, guy. >> >> if you look at a chart, throw that sucker up. we're up against levels we saw. these levers under the radar energy screens have been playing higher. a lot making all-time highs before our very eyes. i don't think the market is paying enough attention to energy. despite the move the commodities had, despite the move the services have had, i still think there's room to the upside in a lot of these names. >> agree. we're seeing rotation in the energy sector. the breakout in the oih is decided. you're at essentially four and a half highs in slumberger. you could inflation adjust back to 1985. there's a real story here that i think energy prices stay high. look at the move oil had this week with the move in the dollar. we haven't been talking about the dollar tonight, but have been talking about it a lot lately. that's usually terrible f

wti is off the highs of the day after earlier topping $91 for the first time since last november. it is still here on track for a third positive week. now, that data out of china showing better than expected retail sales and industrial production numbers certainly helping things because china is the world's largest crude importer. worries around their slowing economy have been an overhang for oil. but what's really stoking the recent optimism is growing calls that there will be supply deficits for the rest of the year. we heard from opec and the iea this week, both of which are expecting shortfalls. after months on the sidelines, we've seen heavy hedge fund buying, which is also pushing shorts to the exits. still with wti up 20% in the last two months, it could be due for a pullback, especially, carl and sara, since it's now in overbought territory. >> it's pretty amazing here, going for three straight weeks higher. 10 out of 12. i know there's been a lot of discussion about the spare capacity that opec plus and the alliance has, but it's not like our own rig count's been on fire

take a look at wti crude, not too bad. it is up by 90 for the first time since november. rishaad: we will have a look at the opening in bangkok, we have the market opening slightly higher following the regional trend. .3% to the upside. a weakness for the currency. against the backdrop of a new prime minister going off to the u.s. and inviting major corporations to invest in thailand. he will be meeting with microsoft, google and tesla. looking at the thai bond as well, the lowest since september 12. we are looking at these gains here. the dollar is not -- has not gained this much since september 11. let's check in with india, nifty futures indicating a move for the upside. publishing monthly trade numbers for august, foreign exchange numbers. looking at records with the nifty at a record high. and the sensex market marking is longest winning streak since 2021. haslina: let's dig deeper. selena ling head of global markets research and strategy, good to have you with us. let's take a look at today's data, a beat for china, it is tempting to say there is stabilization. but

wti at $90. going back to what we were hearing from the minister of finance out of china, the national development and reform, this is what they have been saying. talking about the economy, the cpi, to rebound, the country is not facing deflation and has not had deflation. the chinese economy is continuing its recovery in august, a curious statement here about the economic recovery being a treacherous one. but also saying that economic positivity's are increasing. this is what they were talking about when it came to the currency of the yuan. another headline was that those shorting china will be proved wrong. some people would perhaps like to differ on that. the pboc says they will use tools to keep liquidity ample, talking about the currency and how they have plenty of reserves and want to prevent adjustment in the yuan exchange rate. let's get more on all of that and look ahead to the big event, the federal reserve. let's take it over to rahul goetsch, as we were talking about china, let's hear

today, energy is the story, maybe on the back of the wti news.rton shares rallying with wti back up to november 2022 levels. latest headlines from the wall street journal that aramco may take advantage, potentially interested in issuing $50 billion worth of shares according to sources. alix: thank you very much. hiring picking up in august. wage growth slowing signaling a moderating labor market. the acting labor secretary spoke to me in the last hour about the report. >> if you average the last three months, it is about 150,000 jobs each month being created. this is the transition from the breakneck speed of the fast recovery initially when president biden first came in office to the consistent stable growth you want to see in a strong economy. alix: for more on the jobs report, we are joined by tiffany wilding. what was your broad take? good news is finally good news. do you agree with that? tiffany: obviously, you never want to put too much emphasis on one report. overall, the messages from this report were good. both in terms of labor supply

wti could impact stock prices.n predicting is deeper loss than expected in the current quarter, and we have rivals like sk hynix and samsung we are keeping an eye on. broadly could have futures are trading, u.s. stocks finishing mixed. we had declines when it came to some of the s&p 500 names with the vix hovering around the highest level since the end of may, and downside broadly when it comes to asian futures. we continue to see strength in the dollar and risk off sentiment broadly as well. haidi: we were just talking about and us. you missed a prime opportunity for some funds there, a bearish outlook as we look at currencies. shery: i am giving them to you. haidi: the trajectory yields to the dollar, that is pretty black and white. coming up in the next hour, maybe ponds and white equities are expected to seek a balance. we take a look at energy markets as well. crude tanks are beginning to run dry. we have the market opens in sydney, tokyo, south korea for a holiday. that is coming up next. this is bloomberg. ♪

oil is taking a look at wti at $86.59. brent crude below $90 a barrel.the natural gas market which is up 1.5%. we are looking at mega cap tech with apple. looking to extend the losses this week of more than 6% over china's reported ban of iphones for government workers and state-backed companies. we have comments from the chinese foreign ministry saying it welcomes products and services that comply with the country's laws and regulations. apple gets 20% of revenue from china. any ban could hurt sales and sent the for chinese consumers. it is facing pressure after the eu identified it as a gatekeeper under the digital market act. apple has six months to comply with the act which includes allowing third parties to operate on its platform and giving users access to data and all of this ahead of the iphone 15 launch next week as analysts assess the stock impact. there is something investors needs to look at here. look at the trend. on the day of the iphone 14 launch, shares fell 3%. for the 2021iphone 13 release, the stock fell 1%. on the iphone 12 release,

and the energy market with the wti back above $90 a barrel. up .50% this morning. similar for brent crude at $94.06. natural gas up .50%. >>> back to the nasdaq and tech. shares of a.r.m. holdings set for day two of trading after the debut. a.r.m. closing 20% higher. now more than 9% higher. now it is $69.45. we saw it lift the nasdaq higher, but in the pre-market, nasdaq fractionally lower. we'll talk more coming up. >>> turning back to breaking news this morning. for the first time three automakers are on strike after failing to reach the deadline before midnight eastern time. now thousands of worekers on targeted strikes in michigan and ohio. we have phil lebeau with the latest. >> reporter: good morning, frank. we are here at the ford plant in wayne which is west of detroit. the picketers have been here since midnight. we have been looking at the strikes in michigan and ohio and missouri. spor first time we have seen all three big three struck by the uaw. three facilities employing more than 12,500 employees. let's hear from shawn fain as he announced the strik

we begin with wti at 86.91. brent crude just fell a cent below $90. down .23%.n 2.5%. hitting the low of the morning. it was down under .50% earlier. this on the ban of the chinese use of iphones by officials. beijing plans to restrict beyond government agencies to a larger number of state-owned enterprises and other government controlled organizations. shar shares of apple down 2.3% this morning. >>> time to get a check of the corporate stories with silvana henao. >> frank, good morning. the biden administration announcing plans to cancel all existing oil and gas leases ins alaska and propose rules of drilling activity in the petroleum reserve. this move reverses the decision to drill oil in alaska which is intended to protect 13 million acres of vulnerable land and honor the culture of alaska natives. >>> shares of west rock are juj jumping ahead of the open after smurfit is in talks with the american rival worth $20 billion. it would combine the two largest packaging companies. reports suggest that a deal could be announced as soon as next week. >>> warner br

wti at 89.29%. brent crude above $90 a barrel. >>> turning to the top story. a.r.m. holding at the top of the expected range with trading set to begin on the nasdaq today. tech reporter arjun kharpal is here now with what we can expect and how big of a deal this is in the uk. >> seema, a.r.m. is pricing $51 a share at the top of the range giving it a valuation of $54.5 billion. a.r.m. raising $5 billion here and it will trade on the nasdaq under the ticker of a-r-m. the option of underwriters to offer 40 million shares. it comes at an interesting time for softbank which is off the back of losses from the key vision fund at the time it is trying to shore up the balance sheet and go back on the offensive and begin investing in new areas like a.i. for a.r.m., it is facing a slowdown in smartphones. here in the uk, it is seen as a blow, seema, because this company is a british company which is listing in the u.s. and not on the london stock exchange. london stock exchange said it is still holding out hope that it could see a bdual listing for a.r.m. for this, investors n

the energy sector rallied, given that we had oil, wti topping $85 a barrel. in fact, the longest winning streak since january, seven sessions of gains come the highest settlement since november. we continue to hear more about opec+'s efforts to reduce applied at a time when -- reduce supply at a time when trying to may be coming up with a measures. what markets cared about was that jobs were. u.s. hiring picking up in august as wage growth slowed offering a mixed picture for the fed of both resilience and moderation in the labor market. let's get more from vonnie quinn. it seemed to be broad-based. vonnie: it was such an interesting report, we got many more jobs created them forecast, 187,000 jobs created, but if you look into the details, there are a few cracks showing, which is welcome news for the federal reserve. for example, participation rate rose. that means there are hundreds of thousands of more people looking to get them in this labor market, the first time we have seen that in some time. the participation rate had been fairly stagnant. he sought ho

the wti is coming in at $87.95. brent crude is above $90 a barrel. similar for natural gas up .50%. >>> cpi is the biggest data event of the week, but today is all about with big tech. starting off with the department of justice facing off against alphabet and search engine dominance at 9:30 eastern time today. one of the biggest anti-trust fights since microsoft more than 20 years ago. at 1:00 pc.m., attention shiftig to apple the a-- apple and the iphone release. >>> time to check on the corporate stories with silvana henao. silvana. >> frank, good morning. uaw slightly lowering its demand for pay increase to 36% from 40%. sources tell auto news and others the union is now asking for a series of wage hikes over the next five years starting with the pay boost of 18%. raises would alternate between 4% and 5% annually. gm, for d and stellantis have until midnight on friday to reach a deal. >>> sticking with the summer of strikes, fast food workers in california are set to get a minimum wage of $20 an hour. unions and the restaurant industry reaching a

you have this really critical storage area in the united states where wti is priced out of. it has fallen down to 22 million barrels. to me and you, that sounds like a lot. actually, it's the lowest level in over a year. it's a critical level where it can't operate below their. you can't really take much crude out of their because the quality will be poor. it will be mixed with water. you are not able to take much more crude out of this really critical storage area to get if you do want to take crude out of their, it will cost you a lot. there is some good news. in the short term at least, we are entering the refinery maintenance time. that means the refining companies won't be taking a lot of crude out of storage. they won't need much crude for the next few months. going forward into the winter, especially when you have potentially some relatively strong demand coming out of the united states as well as china, you could see crude prices continue to trend up and it does look like $100 level is going to be coming pretty close. rishaad: what about the fact that there are long

you've got wti up three-quarters of a percent.and natural gas off. >>> the key takeaways from the wanderlust, the iphone 15 and iphone 15 plus with now usb-c charging starting at $799 along with the iphone 15 pro and pro max starting at $1,500. apple unveiled a new watch and micro processor that will be manufactured by taiwan semi. will any of this move things? let's ask about this. do you expect to see the stock move? >> i do not. it's heading into the announcement the product launch and temporarily sold off during the launch. i think the sustained pressure is possible given there weren't a lot of things that got me excited. i think they're taking the de facto price increase on the 15 pro max and having the usb-c connectivity be good for accessory sales. but the china overhang and higher interest rates are going to slow the progress for the stock. there are concerns about the weak economy and protections of the government, not allowing employees to have iphones. >> you say de facto price increase, how do you get there? >> yes. so

it is ooh $0 per barrel and lower for wti. overall the inventory in the market is relatively comfortable. >> angelina, to round things up, where is your price target for oil over the next few months? it's important because we tack our cues from macro based on the energy levels. what do you have pencilled in? >> we expect it to be range bound, probably $85 to $90 per barrel, and this is for brand. overall they'll be 85 to $90 taking into account the year-to-date before the markets. >> pretty much where we are right now. $85 for wti. around $90 for brent. angelina, wonderful to have you with us on the show. >>> also coming up on "street signs," fed governor christopher waller logs a good week on the data front as he calls for caution operates. we'll have more after the break. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it real

we have both wti and brent crude above 1% this morning, a 1% rally. look at how it performed yesterday, even though equities were so soggy. if we look at the today move in wti, really surprised me, up nearly 2%. the big rally yesterday in oil prices happened as equities were falling. this just goes to show that the concerns around the oil market are really trumping the risk off tone. we are concerned about supply. and we get more data about supply later today. we have the crude oil inventory report out from the u.s. highs are going to be on the inventory from cushing, oklahoma. it is now dropped for six straight weeks, its lowest since july of 2022. this is a key concern for the u.s., these stockpiles, and cushing, oklahoma, which is a key hub for the u.s., we get this data out later today, this could be the next kicker for oil prices to move higher if we again see these stockpiles fall. kriti: a lot to watch. i think the point you made about the oil prices and equity sentiment not being on the same page crucial when we talk about cross as the correla

benchmark wti under $86 a barrel, brent crude down to 89.26 just now. touched 0 bucks a barrel yesterday. natural gas seeing a little bit of an upside, just about up one quarter of a percent. we'll dig into the price action later in the show. time now for a check of this morning's top corporate stories. our silvana henao is here with those. good morning. >> frank, good morning. ta taiwan's semiconductor the latest company toway in on arm's ipo. it will decide whether to join in. apple and nvidia are the companies showing interest to buying up $75 million worth of shares. the ftc is reportedly gearing up to file a lawsuit against amazon later this month. this according to "the wall street journal" which says the potential move comes after the e-commerce giant's lawyers offered no concessions and talked with agencies last month in search for a possible sentiment over antitrust claims. it will target a number of amazon's business practices including its fulfillment logistics program and pricing by third party sellers. and philip jefferson's confirmation ta

wti is a little lower. could we get there? what do the technicals say? >> it's certainly possible but we've been calling for a test of resistance which is around $94 a barrel, based on our cloud model for wti. it was a place we could see a pullback ensue. now there's some countertrend signals that are short to intermediate term that would suggest that the energy complex will continue to consolidate after last week. so, they've had really nice gains, including crude oil. and now we're seeing a reaction to the overbought conditions so we think that will persist. it could certainly end up being a pause to refresh the up move. if we see crude climb above that 94 level, then $100 to me would probably be a foregone conclusion because that's below the next resistance level. it's possible but for right now we're looking for consolidation in the energy complex. and if the market does come out of its corrective phase more broadly, i don't think it will be the energy complex that leads us out of it. i think it will be technology, again, the mega caps will kick back

. >> this is the first time wti has topped the 90 level since last november.t crude around 93. 72 right now. this comes after the latest reports from the iea and opec said we would see supply deficits through the remainder of the year. we have this tightening physical market supported by strong demand as well as saudi arabia signaling they will do what it takes to keep the floor under prices. on the flip side you could argue this tightening market has been very well telegraphed and the run up in oil is priced in and oil is over bought for the first time in a year and a half, so it really does speak to just how quickly the sentiment has shifted from very negative to maybe perhaps a little bit too positive here. now energy stocks are higher. one area to watch is the services names because with wti at the $90s level we could see the private players bring production back on line and they're about half of the rate count. it's a meaningful statistic to watch. clean energy stocks also higher today. just got back from the conference in vegas the largest clean energy c

take a look at wti prices, above $90 a barrel this november.this, coming at a time when we are seeing the supply outlook start to tighten. haidi: china's pboc, thanks for the second time this year, it is cutting, coming after data that could show the economy could bottom out. bell, we have another rrr cut, freeing up liquidity does not mean we will see appetite for borrowing necessarily. annabelle: we have seen a lot of capacity for banks to lend. but it has not been the demand coming from businesses and from individual households. the focus today, very much on the rrr cut. it took some in the market by surprise. a signal via local media. but it is significant because it is the latest to what the policymakers are using to stimulate the economy. i'ts -- it is another step to get the more capacity to lend in the market. the rrr cut that takes place on friday was announced. thanks will have to hold 7.4% on a weighted average, a 25 basis point reduction. the reason for doing this now, it relates back to bond issuance in the country. local governmen

wti crude north of $90 per barrel once again. jon: i'm glad you mentioned the energy trade because when you look at sectors, it's hard to find gainers. we see names hanging onto marginal advances like occidental petroleum. he also had stories of companies with reasonably strong results like a uniform maker but the stock is down 4%, it feels like the growth outlook seems to be the concern among some analysts. moving along to tech or the future of vehicles, we did see shares of biscuit moving higher today on encouraging delivery news but we have seen amazon moving lower. the market still digesting the latest headlines on the ftc antitrust suit targeting the company specifically its marketplace. and with the president joining uaw workers on the picket line, we are watching what's happening with the automobile stocks. we will look at ford, gm, and stellantis. they are all down for the day. kailey: moments ago, president biden was in michigan alongside uaw workers including the president of the union. here are some of what president b

benchmark west texas intermediate prices, wti, ticking higher again. they were higher yesterday.saw a little bit of a pullback earlier in the session. we're up three kaquarters of 1%. it is important, because as we pointed out yesterday, at these current levels, we have to go back to mid november of last year to get that. just to give you a point of reference of where we are, 8735 at the current prices. roughly $93.74 was the high over the course of the past year. that was back in mid november, early november. so we'll watch wti crude prices going higher again, adding to that inflationary story impacting rates. and then speaking of that story, rates are the better or worse for big cap technology? f these are all sharply lower today. nvidia down 4% at this stage, that's the driving force behind that technology underperformance today. i know you mentioned tony is here. we'll have much more on that trade. i'm interested to see what we can trade around these mega cap technology stocks. i'll send it back to you. >> a lot of questions. dom, thank you very much. dom chu. >>> it's not ju

wti crude, the u.s. benchmark up higher back well above 90 bucks a barrel.rent crude, similar story, just under 1%. natural gas making a move to the up side, up over 1/2%. also, we got a big stock story this morning, we continue to watch amazon after the monster stock move yesterday on the news that the ftc is going after the ecommerce and cloud giant. fractionally higher, you can see the big dip yesterday. you see the downside move. shares are down week to date. we'll continue to watch this. we'll have much more on the regulatory head winds facing tech later on the show. we want to bring in news street adviser group founder, delano sequary. always great to have you here gl good morning. >> bad month for the markets all around. we're dealing with higher for longer. what are you telling your clients about their portfolios and the situation that seems to be shocking the market. >> we're telling them to stick to the plan. you were just talking about the storied energy prices, if you look at deep into cpi, food prices have steadily been going higher. it is makin

wti at 91.34, moving higher in the premarket. up over half a percent.de moving higher, almost at half a percent higher. gasoline, moving higher. aaa, the average price for a gallon of regular, just north of 3.88 a gallon, up from 3.67 just a year ago. something all of us drivers here in the u.s. are paying attention to. but, it's not just gasoline prices that are making their way higher. we're talking diesel fuel prices also surging in recent weeks. right now sitting at 4.47 a gallon as is jet fuel up nearly 40% since may. taking together from travel to e-commerce, it all means some hard times could be coming for consumers. joining me now is francisco blanch, bank of america global research commodity and derivative strategist. good morning. thank you for being here. >> hey, frank. great to see you again. thanks for having me. >> we're seeing the momentum when it comes to the energy markets. give us a sense, are we headed towards $100 a gallon -- a barrel gas -- oil prices. excuse me. conflating oil and gas right now. $100 a barrel oil prices? >> frank,

crude briefly entered yesterday session at 95 on wti. wti right now 93, we're positive by 1.4% .as you recalibrate in the fourth quarter and into 2024? dana d'auria and they are in the absolute crux of this invite to be diversified within your financial instruments. welcome to the show. help me with 60/40. what are advisors doing as they calibrate 60/40 forward? dana: i think advisors are thrilled about 60/40. 99 diversification benefit we would like in the short run coming yields increasing dramatically and we also experiencing through september getting better the last couple of days, but all september -- tough september for stocks. when you are an advisor and the business you have with the clients, that 60/40 this year with the yield you're able to get, it is still reflecting back on what we have been through the last several years. they're pretty happy with the 60/40. tom: i look at what bonds have done. like an advisor i'm going to the biggest blended fund which is the vanguard total market bond fund. i really did not understand the carnage. if you go back 30 years you got th

wti, 91.54. tom: [laughter] let us move on.e ballpark and joins us from canada, which is an oil producer. within your industry, are they looking at this as a surge that can and will or is -- that can ebb, or is this a new pricing to stay? amrita: it is still early. it is not even 5:00 a.m. here. if i had to guess, i would say they are going to be happy. there is one petroleum congress open with ministers all around the world that are gathering. there is lots and lots of talks with both consumers and producing companies the next couple of days over here. the reality is, demand has surprise to the upside regardless of recessionary fears we have seen. what is interesting for me is, yes, crude is getting the headlines now. if you look at products and crack spreads, they have -- that have already been high for the last few months. gasoline and diesel have been trading at $120 plus per barrel. crude is catching up. those prices have not necessarily gonna further. this is one of the redistribution between refiners and producers. i do

it wti at $91. the asx 200 is completely in the red at the moment.ch and consumer discretionary energy is also down. haidi: coming up in the next hour we take a look at how effective's china stimulus measures are improving and boosting any recovery and citigroup joining us for that discussion. plus moody's investors staying negative on china's property sector the economic growth challenges dampening sales, that is it for daybreak asia. markets coverage continues, this is bloomberg. ♪ it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. we have been able to reach over 100 million people impacted and affected, and at risk of hiv. the rocket fund takes all of the work that we're doing, all over the world, and looks at the most effective ways, to get resources to them, to get services to them. the idea that we have saved five million people's lives, it's overwhelming. it's everything.

wti is down by .50% this morning. wti is picking up.either crude production numbers, we have not seen prices since november of last year at that price. >>> let's talk about the ftc. it is now gearing up for the fourth case against the online retail giant amazon. the consumer watch dog has been probing that since 2019. joining us with the next move is kathy o'neill. kathy, we read a lot about where ftc is going next with amazon. it appears to be third-party sellers and where it is going with the platform. what do we know at this point? >> good morning. thanks for having me. i think this is very interesting. it is a long and an aticipated . lena kahn has interesting insights about the case. this would make the ftc challenge difficult. a lot of people have come to love and rely on amazon and particularly amazon prime. the unlimited fast and free shipping and access to books and music and movies. over the last five or ten years, consumers have expected to rely on the services. i know for myself, i consider it nothing short of a miracle i ca

wti at its highest level since last november.he sharp move higher helping etfs post healthy gains so far this month. the chart master is here. taking a look at the airlines who are so impacted by these rising prices. >> and you're getting reports from the airlines, earnings out for several, saying, look, forget the labor costs, but we've got a fuel problem. the question is, it's just about consequencing. oil was hated and now it's loved. look at this first chart. that's a major break above that down trend. now we're at 92. i think it's right to start to fade this. at least hedge or take profits. in terms of the airlines, of course, they are now hated as opposed to crude which is loved and we can look at a few airline charts just to figure that out together. what we have -- if you look at this, this is the oldest aggregate at all. it's an airline index. it starts just before the covid plunge. no lines, drawings or judgments. let's put some in. took at this trend line. literally we are down to the penny, to that very well defined l

crude and wti $92.63, up i 1.26%. lisa: the big mover is everything else in stasis ahead of the fed meeting. today, president biden is heading to clog up traffic in new york city and speaking reportedly this morning at some point. curious to see how he tries to imbue this event with relevance as a lot of major leaders of other nations did not show up. at 1:00 p.m. eastern, we get u.s. auctioning off $13 billion of twenty-year notes. these tend to be messy auctions. very curious to see what this does to longer-term bond yields at a time where you already see it creeping towards some of the cycle highs. meeting and conferences on the sides of the yuan general assembly. there are all these -- yes exactly. would you like to have a bilateral me? jonathan: none regular bilateral. tom: the yuan this afternoon, it is a newcastle ac milan. i got ago to the garden side, boys from arsenal. lisa: you can go to janet yellen's room because she is holding a bilateral. she is speaking at the finance action form. there are other speak

the wti mark rose above 95 for the first time in more than a year, all after news of a sharp declineentories. russian exporters are now experiencing their peak tax payment period in september. the ruble rose in price in the morning, but now, as we see, it has turned in the other direction, the dollar costs 97.11, the euro 102.244. aeroflot announced this morning that a global failure had occurred in its reservation system; the incident was described as follows: check-in at airports in the company’s route network was difficult. it was reported that the departure of seven flights to sheremetyevo was delayed. last november, aeroflot switched to the russian leonardo reservation system. it was created by sirena. and rostec. the state corporation announced today that there is a massive didos attack on leonardo due to milestone. and about 40 minutes after all this news, aeroflot announced that the functionality of the leonardo system had been restored. egor, everything about the economy. thank you, denis. lame duck and ugly duckling, as biden and trump are now called in light of the ongoing

indicators of january on the eve of the brand cost more than 89 dollars per barrel and september futures for wtiise in price to 86 dollars per barrel. now there has been a slight correction. the main reason for the growth, according to experts, in anticipation of the market for an additional reduction in production by russia and saudi arabia, let me remind you that on prime minister alexander novak said last week that the country agreed with other members, guardianship, plus such an opportunity, moscow and a number of voluntarily further reduce production within the alliance, our country in september reduces exports by 300,000 barrels per day, and in august the mark was 500,000 barrels. saudi arabia extended a voluntary cut in oil production by a million barrels per day in september , first me calculated for july, then i extended it to august so that the market balances supply and demand in may alliance in total cut production by a million and 660,000 bpd , in addition to the 2 million bpd cap already in place since october . and if at first the measure was introduced before the end of this year

crude new highs for 2023, short of 90 on wti. we are up here by a little more than 1%. a grandfather who grew up pretty darn poor and did pretty darn good, he would only drive a cadillac. that cadillac we stepped in it as a kid had a plaque on the bottom of the door were you stepped in and it said body by fisher. we go to lansing michigan. he happens to be in london but craig trudell lived uaw, he lived michigan and he lives what joe biden remembers until for sure went out of business the 80's, 90's, maybe 2005. is this uaw behind the president of the united states or in loss them? craig: i think uaw absolutely appreciates that biden much more of an ally and an ally to be trusted than the alternative in donald trump, the front runner on the republican side. that said, it is not a cut and dry story. i think there are concerns about the fact that biden has this long history of not being able to necessarily deliver on what uaw has wanted in the past under the biden administration. there was not much biden could do. this is a union weakening for some time and it is trying t

nymex crude, this morning we saw wti hit $95 per barrel, just a couple cents over that briefly, it israding at $91.55. amber: i am watching a study of contrast. seeing microns selloff on the back of earnings. we also had a forecast for a loss coming in bigger than expected. talking about exposure to artificial intelligence. micron more exposed to pcs and smartphones. we also have some big movers on the s&p that i am tracking. albemarle is moving up. the price of uranium hitting an 8.55 in your high. carmax, this is the one that missed earnings by two pennies. carmax starting to feel the pinch as consumers pullback. these cars are getting a bit of a dent. matt: i see what you did. i do not appreciate it. amber: [laughter] matt: let's take a look at yields. they are continuing to rise as the price falls. t. rowe price is now shorting 10 and 30-year treasuries. eventually catch up with the fed 's funds rate which is now between 5.25% and 5.5%. let's talk with bloomberg's michael mckenzie. thank you so much for joining us. i had not thought about the fact in this cycle that the 10 year sh

seeing brent crude above $92 a barrel, wti approaching $90 a barrel as well. market and one which is tightening at a clip with saudi arabia and russia turning caps off at a time of robust demand. this means brent is up 23% in the third quarter. that is the strongest third quarter performance in almost two decades. looking at property companies, country garden is up only 6.5%. sina-oceanland had delays denied to them. foxconn -- foxconn on the way down after we had apple's iphone debut event, improved performance, new models, >> if they were to live up to the investor protection it would help investors right now, unfortunately there are noncompliance and it is a field which is rife with fraud. and misconduct. >> it is frustrating, you see other markets, where the governments are partnering with the industry and you are seeing leadership and growth. one of the definitions of insanity is doing the same thing over and over again and thinking you will get a different outcome. haslinda: the ceo of ripple, reacting to comments from gary gensler. 49 is asia's largest

the wti mark rose above 95 for the first time in more than a year, all after the news about the sharpak of tax payments in september makes the ruble more expensive. the dollar is now 9674. the euro costs 10170. the head of the central bank, elvira nabiulina, opposed the use of chinese methods on the russian foreign exchange market. at the beginning of this week , minister of economy maxim reshetnikov proposed solving the problem with the falling ruble using the experience of china, where, as the minister put it, there is a membrane between internal ones. in other words, we are talking here about introducing some restrictions on the withdrawal of rubles from the country, answering questions during a lecture to students of the faculty of economics of moscow state university, elvira nabiulina said: yes, in china there really is a controlled rate of capital movement restrictions, which can be affected, but who is suggesting that we use this, they probably forget to see that china has already decades, two decades , at least, trying to liberalize... the movement of capital, financial market

we wouldn't be surprised from some deflations to see oil prices reaching $110 on the wti. >> wow. 110 target. >> now in terms of central banking, the central bank is not supposed to care about commodity inflation. it's supposed to carey a about macro inflation. central banks shouldn't be worried too much -- >> transitory. >> we remember the hike and we remember the word transitory which sends a chill down my spine now when people mention it. i want to ask you one last question before you go. this is a nice segue to my next session. how closely are you watching what's happening in china? what impact is it going to have on your thesis? >> a significant impact. china and the emerging world have a lot of bad news. so the symmetry, if you like, of being overweight in merging, that looks good. china remains a complex economy. currently we're starting to capture a signal of stabilization. not improvement but stabilization. is it enough for us to push more? not quite. it's one step in that direction of late cycle. >> florian, thank you for coming on the road. wonderful to chat to you. giving

we begin with wti at $91.91. moving higher right now up .25%. brent crude at 95.48. suppis up .50%. >>> now we move to the investors who are looking to make gains to around out 2023. we are speaking with some of the favorite stock pickers who are giving us their best ideas and we run them through the gauntlet. yesterday, james cakmak made the case for the name amazon. today, i'm joined by gordon johnson. gordon, give us your pick and why you think this is the right time to invest in that name. >> frank, thanks for having me. we really like global uranium miner. the reason is simple. the uranium spot prices hit a 15-year high. think about this, frank. over the past year, uranium prices are up 44% in the past year. oil is up as well. you have natural coal prices down. why do we like this name and why are we super bullish? it is simple. you basically had a decade of basically uranium production facilities ramping down capacity. what are we looking at now? we believe you are looking at a structural deficit of the likes we have never seen before. since then, it has gone u