And today Morgan Stanley said oil prices could plunge even further to 20 a barrel if the dollar continues to strengthen. And thats something capitals john kilduff said was possible about a year ago on nightly Business Report. Were in the beginning part of the price zone right now that hurts production in a big way and starts to reverberate through the economy, the manufacturing economy especially. It will be particularly painful if we do break the 40 level and then if we do break the 33 level, which is my low price target and we go down into the 20s. Then its going to be a real bleak situation. And john kilduff Founding Partner with again capital is back. Hes wearing his lucky shirt. Did you notice that . Its the same shirt he had on. He knew he was coming on. I take care of things, you know. John, where do you stand now . You correctly forecast where oil was going to go. Were at about 31 a barrel. Are we near the end of the cycle or not . Unfortunately, no. I think the low point now w
And today Morgan Stanley said oil prices could plunge even further to 20 a barrel if the dollar continues to strengthen. And thats something capitals john kilduff said was possible about a year ago on nightly Business Report. Were in the beginning part of the price zone right now that hurts production in a big way and starts to reverberate through the economy, the manufacturing economy especially. It will be particularly painful if we do break the 40 level and then if we do break the 33 level, which is my low price target and we go down into the 20s. Then its going to be a real bleak situation. And john kilduff Founding Partner with again capital is back. Hes wearing his lucky shirt. Did you notice that . Its the same shirt he had on. He knew he was coming on. I take care of things, you know. John, where do you stand now . You correctly forecast where oil was going to go. Were at about 31 a barrel. Are we near the end of the cycle or not . Unfortunately, no. I think the low point now w
2. 02 . Alas, i think todays selloff is the real deal, unlike yesterdays rally which was triggered by positive Federal Reserve minutes, todays selloff was based on real weakness in the global economy, worries like ebola, and the averages are still higher than when the year began and thats looking less and less logical. As the slowdown manifests itself. [ beeping ] before it gets started on the wacky nature of a market that goes up or down 300 points on a whim, let me just say pointblank that we are indeed in a treacherous market. We live in america, our companies are doing relatively well, but the definition of treachery in a stock market terms is when the simple facts mean nothing to the sellers. When one strand of weakness can frighten investors more than all of the good strands that are out there, its pure treachery and thats whats going on right now in the field of battle. Take alcoa, right . Heres a company that delivered on every lineitem when it reported yesterday. I know this c
Rallying and the 10year moving high owner the fact that the fed if anything worried about inflation and growth move, i mean, try to put it altogether and create a coherent narrative. I cant. Maybe the panel can. We have other news but first of all keep an eye on this level. 1962 was yesterdays high on the s p 500 index. Write that down. We took out yesterdays low on the open this morning. If we were to close above yesterdays high, technicians call ate key reversal day and would put a potentially bullish move for the markets. If we get a push higher here in the hour and see what apples doing because carl icahn put out now very sophisticated with the tweets. He is tweeting of what to tweet about. Well, thats true. Thats true. Almost like we have to watch his communication strategy as much as he tweeted out to send an open letter to tim cook, ceo tim cook, tomorrow. With all of the agitation at apple, the stock is up 50 in the time. Hes going to send an open letter to tim cook tomorrow an
Sector as well. Shares in sky moving ahead amid reports vivendi is eyeing a take over. The nikkei hits a 15 year high as the bank of japan maun tans maintains its massive spending program. Greek Prime Minister set to meet Vladimir Putin one week before athens is key to make a payment to the imf. Lets get straight to our top story this morning. Shares in bg group are soaring after the company agreed to a 47 billion pound takeover bid by shell. The merger is one of the biggest in a decade and comes amid the tumbling price of oil. Earlier our colleagues on squawk box europe spoke to the ceo of shell and asked him what prompted the deal. We have been looking at bg for a few years to be perfectly honest. Its a company we admire for the strength of its portfolio in integrated gas and these are the areas where we are strong at shell as well. It makes a lot of sense to put the two companies together and really accelerate dramatically the financial Growth Strategy of shell and at the same time