Good monday morning. Welcome to squawk alley. Were at post nine john fort is live at one market in San Francisco what a morning, guys, for the first day of the second half of the year not only is the dow set a record high, transports setting the first record high since the beginning of march but you have the ten year at 234, above levels that they said were critical. What does this say the dow, the transports, financials, its coming to some degree at the expense of the big cap techs. Seems like a first of the month effect june if you remember, june 1st, market was up. 75 you have the 2430 in the s p 500. You closed june below. That it seems like a rush of money. People looking for that rotation to continue into july. Does it count on a shortened session . I it this prices count do we have a majority i dont know exaggerated on some level in term of the magnitude of the lift especially after the open certainly got our attention well see if we get any followthrough after the holiday. Join
Oil is down too much. We have had a huge runup. We are off 232 points. Look at the stocks that are leading. Caterpillar. Chevron. The cell ibm. Those five dallas. Combining. The price of oil. That is where the real news is this morning. Very close to what we call a for handle. 50. 2. 35. To gasoline. The National Average for gas to dollars 0. 19. Aaa sees u. S. Drivers saving 75 billion on gas this year. Look at the map. The 1 club expands to seven states. Sound the trumpet. The cheapest gas in the land. 1. 42 for regular. Almost worth driving there. Airlines are getting a huge benefit from tumbling prices. Southwest is rewarding travelers. You have a big meeting. Southwest is having a sale. Fares as low as 73 oneway. Stuart i thought that was an ad for starbucks. [laughter] look who is here. Cheryl casone. Cheryl there is a forecast out there. About 5 that we will see a drop in air fares in 2015. Stuart they are under great pressure to do this. I think that they well. Some airlines wi