Well explain. Im afraid. All right . You want to hear me say it . And you have good ranz to be, rocky, because the vix is doing something funky and it could spell trouble for stocks. The action starts right now. She drives me crazy ill get right to it because theres with one area of the market that struck fear in the hearts of traders today and that would be energy. The sector just had a recordbreaking 13 straight weeks of losses. Exxon hitting a oneyear low on earnings. Question now, are the big dividends of Big Oil Still safe . Lets get in the money and find out. Brian kelly is make a rare appearance on options action. So rare in fact you that forgot to take off your tie. I know. Well start with you. I didnt have time. Well, i do think the dftds are in danger here particularly with the big oil, exxon, chevron, those types of things. Over the next 18 months there will be a time to buy these. Its not right now. We saw rig counts today actually increase. That means Oil Production is inc
And you have good reason, rocky, because the vix is doing something funky and could spell trouble for stops. The action starts right now. Well get right to it because one area struck fear in the hearts of the traders today and that would be the energy. Exxon hitting a oneyear low on records. The question is now, are big dividends still safe . Well get in the money and see what brian kelly says. This is a rare appearance, so rare, in fact, you forgot to take off your tie. I didnt have time. Listen, i do think the dividends are a danger. Particularly with the big exxon and chevron, those types of things. Over the next 18 months theres time to buy these. Its not right now. We saw oil price increasing. I dont think saudi arabia is going to increase. The increase in production the around 2 Million Barrels a day. So that is obviously a huge problem. You pointed out the rate cut issue, theres a couple things that could impact the dividend, not the least of which that the Oil Companies are mak
Rocky, because the vix is doing something funky and could spell trouble for stocks. The action starts right now. Well get right to it because one area struck fear in the hearts of the traders today and that would be the energy. The sector had a recordbreaking 13 straight weeks of losses exxon hitting a oneyear low on records. The question is now, are big dividends still safe . Well get in the money and see what brian kelly says. This is a rare appearance, so rare, in fact, you forgot to take off your tie. Well start with you. I didnt have time. Listen, i do think the dividends are a danger. Particularly with the big exxon and chevron, those types of things. Over the next 18 months theres time to buy these. Its not right now. We saw oil price increasing. That means Oil Production is increasing. I dont think saudi arabia is going to cut, i see oil in the 30s easily. The increase in production the around 2 Million Barrels a day. So that is obviously a huge problem. You pointed out the rat
In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yields. Thats been a pivot point for a while. Were somewhat significantly below that. I still think yields go lower. I
Almost a week having gone by we are two, four six. We are now 2. 389. Lets get to our road map this morning. As you expect it starts with the employment number. A steady increase in jobs added last month. Unemployment ticked down to 5. 3 . Perhaps some worries as the Participation Rate slowed. As we head into the weekend, no deal insight for greece. Finance member is threatening to quit if the vote is yes. We will get information live from the market. Deals continue in health care and paypal buying zoo. Here are the numbers for the jobs. Nonfarm payroll, up 223,000. Gains in april and may, revised downward. The Unemployment Rate fell to 5. 3 a sevenyear low. The labor Participation Rate declined as low as it has been since 77. Wage growth stalled. Average Hourly Earnings came in flat. Later this morehour, we are going to look at the obama administrations numbers. We sat down here. He said not so great. Not so great on the headline number. A little disappointing. Still under 2000. They