Mohamed elerian. The drama at United Continental airlines continues, activists looking for Board Changes as the ceo is set to return. David faber and phil lebeau will join us. I think we got him even to come down to the stock exchange. Just flew in. You can see on screen, just breaking in the last hour, Whitney Tillson is back shorting lumber liquid ators, hell explain why the shares are down another 9 . It was about a year ago that that first 60 minutes report about the harm potentially done to folks about this flooring came out. Its been quite a saga. Then covered that short position of his in december but put it back on again. Well explain why coming up in a little bit. Lets start with the todays move in energy and materials, the stocks. Bob pisani joining us. Thank you, Goldman Sachs, we had material stocks going and this morning they put out a note pouring cold water on the idea of further rallies. Heres what they had to say, oil supply and demand is not in balance and dont preten
Both down by 0. 75 . Chinas february exports dropped by more than 35 in u. S. Dollar terms. Imports there fell by nearly 14 . Of course, were watching Oil Prices Today too. Crude was up by 5. 5 yesterday. Its up 45 from februarys low. Right now its down by 1 , but wti still sitting above 37. 50. Scott . All right. Speaking of oil, the Goldman Sachs Commodities Team out with a new report today. That title, the three rs. The goldman team suggests those factors have driven a prema chur surge in Commodity Prices that is not sustainable. The firm is maintaining its bearish view on gold. It keeps its nearterm copper price target of 4500. As for iron ore, goldman predicts a rally will likely prove temporary, so its maintaining its end of year target of 35. And on oil, goldmans nearterm view is for a trendless market with substantial volatility between 40 per barrel and 20 a barrel. That firm has a bullish end of year view on energy, saying oil will likely rebalance this year and create a deaf
Futures down 35 points. S p futures up close to 6. Nasdaq down by close to 11. If you take a look at whats been happening in early trade, you do see green across the board. Angela merkel was dealt with a setback with election theres. The dax is up by 1. 5 . Cac up by. 33. Ftse,. 50 . And bank of japan with a meeting today. And here are some of the big stories that we are watching for you on this monday morning, the u. S. Condemning the latest attack in turkey. Leaving 37 dead, 125 injured. Officials say a car bomb targeted civilians the a bus stop. Meantime here in the United States, there are multiple injuries after an amtrak trail derailed in kansas. At least five cars jumped the tracks. The train was headed from l. A. To chicago. There were 142 passengers and crew on board. And flooding in louisiana and mississippi claiming at least four lives and forcing thousands to leave their homes. Flood warnings remain in effect across much of the region as rivers are at dangerously high level
There. The stock already the worst performer on the dow over the past year and now one of chinas most powerful businessmen says the company is outdated. Cnbc asked an industrialist about apples future. He is ringing alarm bells. Translator in china, can you see that apple has already begun to lose the rapid sales growth momentum. One of the most Important Reasons is that apples innovation has become extremely slow. Two apple analysts join us now. One is bearish on april well a neutral rating for all of last year but three months ago but a buy rating on the stock. Guys, great to have you with us. You know, one of apples latest innovations is the apple se. But some say that make shift could present problems for apple when it comes to margins and average selling price. There was this interesting stat if, 10 million customers chose to buy an se instead of a 6s, that will put a pressure on margins. How much for apple Going Forward . Yeah. This will have some impact on apple. At the same tim
Like exxon, chevron, and pretty much nearly every other oil stock out there. Lets find out the reason and get to Jackie Deangelis at the nymex. Thats exactly right. Near 7 increase in oil prices on the day today. Remember, this is after the seesaw week here and, of course, we are near session highs at this point. Some buying the dip here, some technical buying, driving the price higher, but there is fundamental strength to because traders are looking at numbers out there, not just from the u. S. , but also in europe and taking them with a positive tone. Look at u. S. Production over the month of march. Ive got the numbers for you. A million barrel per day decline here in the United States, were just over 9 million as of april 1st. Next week could be that inflexion point where we drop under that level. Remember, this is down from 9. 6 Million Barrels june last year, so significant drop here. Those rig count declines that were going to hear about later in the hour starting to maybe have