Week yeah. This is the expiration day so what happens is you actually its tomorrow, but people are trying to prep it what happens is rusty braziel explains to me, the rollover from the may contract to june occurs tomorrow. The reason that happens is because the may futures price converges with cash and expiration so in other words, youre looking at what the real price is its not the futures price so what happens is that imagine if youre producing at 32 a barrel, 33 a barrel like occidental, thats just youre hurting nobody can make any money at these prices rusty points out that after seeing this, the next month, it might go to zero and thats i think a lot of it is because where will you put it maybe keep it in the ground. It is extraordinary and jarring. And i think its causing the decline. Carl, whats so amazing, it was completely predictable thats why maybe the decline isis really overdone if its based on oil if its based on other factors, i dont know it looks like oil is bringing th
A move like we saw yesterday doesnt typically begin the recovery from a dow turn the likes of which weve had, does it no this is one of the greatest oneday bull markets ive seen. You had to come in at the darkest hour, if you didnt, youre coming in on total quicksand. We had a move that was so accentuated by the machines, algorithmic. They exacerbate which ever direction it is. I hate it as much when it goes up as when it goes down, it brings in a lot of people who think maybe its all clear its not all clear its almost like youre lucky if you bought yesterday and you should ring the register today weve seen prices that will hold up but everything ive heard this morning is about how were ready and open for business, but no one talking about going to where theyre ready. Boeing, yeah, thats great you want to fly . When do you want to fly again . Thats a great question, jim. When you talk about what life is going to be like once the crisis passes right or when people go back to socalled no
All ahead for the session so far. Ten year note yield, crude oil, you ask, and we always like to answer as well, look at our ten year note yield, 1. 78. Lets get to our road map this morning, it starts with what you expect, the shopping surge, facing a condensed Holiday Season, retailers raking in a record 4. 4 billion online on thanksgiving day this is ahead of, of course, what is traditionally the busiest shopping day of the year, today. The final trading day of november and stocks pointing to a lower open on this holiday shortened session. Buffett thwarted, the oracle of omahas latest attempt to put his cash hoard to work, outed by by apollo global. We begin with retails busiest day. Courtney reagan is at the Woodbridge Center mall with what to expect this weekend as the Holiday Shopping season officially kicks off hey, court. Reporter good morning, happy thanksgiving to you, morgan. Here were starting to see the second wave of shoppers come out to the mall. They do those early door
Date trade tensions resurface as china rebukes the decision to sign a bill backing protests in hong kong. And retail front and center as we get forecasts from adobe and the National Retail federation, forecasting strong Holiday Spending joining us for the hour is allied chief Investment Strategy lindsey bell here we go, a shortened day today but a lot of excitement. Whats driving the action . Well, you know, there is lower volumes today. Coming into the end of november, going into december, this is the seasonally strong period of the year earnings season was a good one retail sales pretty good retail earnings were good even though a mixed bag and so i think were in the period of pause until the new year. What are you paying close attention to today. Well, today, i think its really all about this is black friday about the retail environment and the consumer theyve been very confident, wages going up Unemployment Rate very low, near 50year lows can the strength of the consumer driving th
Golden gate bridge gnarly obscuring the view too terribly much looks like people are doing just fine out there and visibility is Holding Strong even at our coastal areas much of what were seeing is streaming in a ride across the bay, not really settling down into it. So youre going to be looking at the clouds when youre looking up not so much ahead of you as you are making that drive into work. Temperatures this morning in the 50s and 60s it is a cooler start to the day than yesterday was at this time, im sure many of you are sleeping at this time yesterday still dont really remember. But it is cool enough for that jacket as youre getting out there later on today wont need the jacket inland were going to be warm yet again with temperatures well into the upper 80s if not back into the low 90s for many areas got more on your forecast ahead rebecca all right, ive got a lot of traffic to talk about because things are getting back to normal after the holiday you can tell right here. The bay