If congress does move on relaxing the u. S. Ban on exports of crude oil. Ill keep an eye on that story which the white house says they still prefer their administration to address. We take you live to the nymex for the latest shortly. And fitbit soaring again today on nufz a corporate account with target. We debate whether this stock is more than a fad bill. They order 335,000 fitbits theyre going to hand out to all target employees. Thats a lot. Plus mad money meets closing bell. Jim cramers going to join us today. Hell be live from the dream force conference out there in San Francisco. Hes with the ceo of Western Union coming up shortly here. But in the meantime lets get to the story of the day. Jackie deangelis joins us now from the nymex with this big rally on oil today. Jackie . Reporter good afternoon, guys. Thats right. A near 6 jump in oil prices today. We havent seen a move like this since august 31st. That was one of the days we popped 8. 8 . So these wild swings continue whe
Fourth day of declines and after the chinese manufacturing guide we saw it continued to drop about 78 u. S. Cents. About four days ago it was about 0. 8 u. S. Cents there. It has dropped quite a bit. Economists and traders believe the r. B. A. Will cut Interest Rates to a fresh record there just 2 . Its priced in about 76 that they will lower benchmarks to the 2 fresh record lows. Analysts say aussie has the potential for a pretty volatile week. Angie . Energy thanks, yvonne. More weakness on the factory floor in china with the p. M. I. Coming in below forecasts. Steven engle crunching the numbers. What does this tell us . Steve worse numbers since 2014 for hsbc. Manufacturing economics p. M. I. 49. 9 expecting 49. 4, so. 5 not a percent but you know what i mean five basis point bees low that. March was 49. 2. New orders, this is a key number within that p. M. I. Declining the most in a year. The official p. M. I. We got on friday showed stable stabilization but still 50. 1 is right th
Then well keep our eye on europe as well, the mix of red and green, a little more green than red on this friday morning. The road map begins with the potential new record for the s p, starting from fresh highs we reached yesterday, strong results from Morgan Stanley and ge will help power things along. Google is also set to open at record highs after it reported Strong Quarter live results. Chinas economy rebounding to the tune of 7. 8 growth for the worlds second largest economy. And shares of chi polt up sharply on a jump in traffic. I could have told you that one from the lines i see. The s p is poised to open at new alltime highs. Morgan stanley chairman and Ceo James Gorman will be a guest on squawk on the street in the 11 00al eastern hour. Lets start with ge. A margin story that has been promised all year long, 120 basis points. I think that was terrific. On top of the 50 basis points in the second quarter. Things are getting better, industrial margin guides i think is very doab
Interesting. Okay. You tied it in to dell and jpmorgan and everything else. Excellent. Larry, thank you. My pleasure. Join us tomorrow. Squawk on the street begins right now. Good wednesday morning. Welcome to squawk on the street. Im melissa lee with carl quintanilla, and jim cramer and david faber at the new york stock exchange. Stocks had a pretty nice day yesterday. The s p closed at fiveyear highs. We are looking to the down decide this morning. The dow looking to lose about 62 at the open. The picture in europe, a couple of downgrades for gdp forecasts from both the German Government and world bank. Italy is down by 1. 5 . Road map this morning starts off with the banks and earnings. Jpmorgan higher. Goldman sachs at 18month highs. Japan airlines grounding their entire dreamliner fleet. Dell shares falling this morning after david faber reports that a deal could be announced within two weeks, but at a price of 13. 50 or 14 a share, hes got the details. Rising food costs taking a