Exclusive conversation with him. Plus insider buying, our friday segment. We are seeing the most bullish that we have seen in months. One Company Insider buy. It is not a name that we talk about. Well name that name and 13 million reasons he is optimistic on his companys future. Friday, may 22 you are watching Worldwide Exchange on cnbc. Good morning, welcome from wherever you may be watching we made it to another friday great to have us here it seems interesting here memorial day seems early this. Stock few you ares down about 170 points seeing a little weakness here. Markets seeing a relatively mild day. Huge up on monday, down half on tuesday. Gain some of them back for wednesday. Lost it yesterday. Really has been a roller coaster week that Hong Kong News well get to stocks tumbling and our futures down 170 lets get now to that news the communist party looks set to crack down on hong kongs remaining freedoms futures are down 170 points now. I believe you have eunice yoon who is ready to go is that accurate eunice, thank you for joining us we were going to have you on to talk about the nasdaq listing story which we might get through to the morning all of the worlds attentions are based in hong kong what can you tell us about these latest proposals from beijing . Right now, the hong kong activists are already calling for protests to say that they are planning for street action into the night that could include flash mobs to voice their frustration with what was tabled here in beijing at the National Peoples congress, which at the end of the day is a draft that is meant to change and impose a National Security law on hong kong in that draft, beijing is proposing to input mainland intelligence agencies and possibly set up bases in hong kong it is also aiming to tackle sustain session, subversion, terrorism and foreign interference to that, to the ears of many in hong kong, especially those protesters, those descriptions target them. Hong kongs chief executive carrie lam has said she is going to follow through with any proposal that might follow through from beijing as you can imagine, the fact that beijing is so directly intere interfearing, it would appear and imposing into the basic law at the same time which is meant to separate the governing of hong kong from mainland china. For beijing to do that is frightening a lot of people there for that rule of law has been breached. You know, the world is going to wait to see what happens with that law one of the reasons, hong kong is one of the biggest World Centers in terms of dollar volume. That is why the world watched the protests there what is the time line there . Is there still time to reverse the decision or alter that bill which sent hong kong stocks down 5. 5 overnight it seems unlikely beijing would alter any draft. This proposal was announced today at the open of the nationals Peoples Congress we are expecting there is going to be deliberation but with chinese characteristics. That means at the end of the session, a shortened session lawmakers will decide whether or not to go ahead with some of the changes that they are making in this proposal. Because this is a oneparty system the chances of any significant changes that would alter what beijing hopes to do with hong kong is quite unlikely eunice covering the story as best you can i know it can be tough over there. Have a great weekend joining us to talk about these markets is rob morgan, director of Market Strategy and u. S. Energy advisors i tweeted out that today may be the first day we dont trade on either the pandemic, the lockdowns or federal reserves. This hong kong thing has sent stocks down. They are not tumbling, down about 170 points right now once we come out of the paea pandemic, and we will. We will still be facing a world where the cold war between u. S. And china appears to be heating up how will about impact long term strategies since hong kong was turned back over to china 23 years ago, local hong kong officials have been trying to pass article 23 of their miniconstitution, which is basically a sedition act. Over 23 years, locals have not been able to governor support for that finally, beijing has lost patience here and with hong kong support going to pass what is basically a sedition act how does that impact long term investing, relationship with the United States . Hong kong has some you were talking with eunice, you mentioned that hong kong is one of the biggest Financial Centers in the world in fact, hong kong has the most favored trading status with the u. S. Even above what china has the u. S. Has some options here how they might retaliate to this and it is related to trade ultimately, with he could see world trade suffering from that. You are a wellknown face to cnbc but also a former naval sub officer. You have a little idea of the sense of geopolitics everything has been focused on the paendemic and the lockdown, as it should be. But if you are investing out years, the pandemic, like others, it will eventually end that doesnt free us from looking at the world po postpandemic the conflicts with china dont appear to be backing downey time soon we have to put that some what in our thinking of how to invest. It has to be factored in. A continued trade war with china, which seemed to be abating earlier this year certainly brings down world gdp. At the same time, to focus in a little more about your comments there about the pandemic ending. I would certainly think well see a vshaped recovery out of this the pandemic has deferred production and consumption we havent lost it bank of america came out with a report bull markets most viewers may be surprised about this they start during recessions they may have started the next bull market when the s p hit its lows the key is how much of the 26 million unemployed will be back to work in six months. Whethers that 20 of the 26 or more that will be one of the deciding factors if we go into a recession. What do you see in your economic crystal ball even if we do have this vshaped recovery and b of a mentioned as well. They have said at the bottom of this is going to be worse than we thought in some ways, that sets up for comparisons going forward. If you look at company by company. Companies reporting their Second Quarter earnings right now excuse me, they are reporting First Quarter earnings right now and they are getting out all the possible bad news that can happen why are they doing that . That sets up for easier comparisons going forward. The same can be true on a macro basis on the economy as a whole. If we hit a big hole in the gdp. Rob, sorry to jump in on you. U. S. Energy advisors great to have your global perspective as well from a couple of hundred meters under the sea from a lifetime long ago. Best to you on a holiday weekend. You too, brian snooch when we come back here, facebook looking to overhaul work culture in the postpandemic world a big week for retailers show casing the sectors haves and have nots one company that has the biggest insider stock buy that we have seen in months a bullish move on a name we dont talk about a lot we are just Getting Started he on Worldwide Exchange. 5 11 on a friday we are back with more after this tempurpedics mission is to give you truly transformative sleep. So, no more tossing and turning. Because only tempurpedic adapts and responds to your body. So you get deep, uninterrupted sleep. During the tempurpedic summer of sleep, all tempurpedic mattresses are on sale during the tempurpedic summer of sleep, i geh. Common bird. E. Ooh look over here something much better. There it is. Peacock, included with xfinity x1. Remarkable. Fascinating. Very. It streams tons of your favorite shows and movies, plus the latest in sports news and. Huh run the newest streaming app has landed on xfinity x1. Now thats. Simple. Easy. Awesome. Xfinity x1 just got even better with peacock premium included at no additional cost. No strings attached. Just say peacock into your voice remote to start watching today. Good friday morning there. We are seeing time square. We have noted well show it to you from time to time to see if we see a trickle back to life there. Normally even at this hour, you have a lot of people coming and going. Well watch. Well be eye balling to see if we start to see a trickle of more people as we inch, creep, crawl to getting back to a sense of normalcy here back to top headlines outside the world of headlines in business rahel solomon at hq. Happy friday to you lets start with President Trump offering a blunt assessment of what will happen if we see a coronavirus outbreak in the fall the president said he would not close the u. S. Maintaining that the virus would be stamped out Health Experts said the virus will likely spread through the fall and winter and may even become more difficult to combat. A stimulus package for americans will be coming sooner rather than later saying in an interview that a plan was, quote, not too far off. Cautioning that lawmakers need to focus on the impact of what theyve already done weighing a new plan facebook ceo looking to make the work from Home Lifestyle more permanent. Zuckerberg predicted more than half employees could be working remotely within 5 to 10 years. Brian, they did a survey and found half of the employees there are just as productive at home as they are in the office so i guess well see i guess we will see i think personally, not that it matters, you can be very productive you have been quite productive, if i say so myself i will say so too myself but i miss the team back there coming up, one of the men considered to be the top ceo in the oil patch. Scott sheffield. Announcer todays big number, 92 cents thats how much gas prices have fallen in the past year. The average price of gas is 1. 92. E lowest on memorial day since 2003 tempurpedics mission is to give you truly transformative sleep. So, no more tossing and turning. Because only tempurpedic adapts and responds to your body. So you get deep, uninterrupted sleep. During the tempurpedic summer of sleep, all tempurpedic mattresses are on sale welcome back and good morning. Beijing cracking down on hong kongs freedoms and new law crack down on civil protest. Seeing crude oil down. Looking past the pandemic and Global Economy if tensions continue to heat up, there are concerns that this trade war and cold war could heat up as well. Overall, it has done a remarkable concern it has gone from less than zero in famous trade to 30 a barrel in less than one month youve got supply and demand. Speaking with scott sheffield. We are only down, believe it or not, 7,000 barrels of oil a day. We are still exporting most of our crude. The exports are continuing we have Firm Transportation to the gulf coast everything is being taken off shore, pretty much who is doing the cutting then the bigger players the exxons we know their Capital Spending has gone down. The rig count has gone to an alltime low where is that 1. 5 million a day coming from . Conocophillips has announced significant cuts some of the majors have announced. Most of that 2 million a day is by larger players. You have to remember, we have 900,000 barrels a day of marginal production with high operating costs in the u. S i bet most of that 900,000 was curtailed by small independence. Pioneer strictly all older, vertical production with high operating costs. Do you expect production to fall more. If you say pioneer, doing your part ive talked to several operators with the rise in wti and brent up, most of this production will come on in june or july. Im worried about 3 Million Barrels a day, both canada and the u. S. Coming back on. Canadian affects us coming down the midwest or gulf coast. Well get a rise of about 3 Million Barrels a day. Im hoping that demand picks up with all 50 states coming back to at least driving once again that well see hopefully a nice balance. If i would have told you 30 a barrel oil would have been considered, quote, good. You would have told me im crazy. 30 is still a money loser for most out there how long will 30 oil stave off bankruptcies and consolidations, if at all . I think it will keep most ba companies from bankruptcy. If you remember, the texas rail commission, that kept companies from going to bankruptcies if you look at the futures curve over the next five years, which we all do, you only see 2 to 3 increase it is fairly flat. It gets up to about 37 next year we are not going to add any rigs or fry fleets. We are really going to need 45 or 50 brent before you see increased activity as a result of that, we are going to see significant drop in u. S. Production going into 21. If we get demand creeping up at the pace it has seen, do we get to the 45, 50 level the fact that we get to that 8 million a day. The airlines, how fast the Airlines Come back i dont think that will come back to 22 at the earliest, maybe 23 unless we get a vaccine earlier but thats going to be the key. And that was our conversation with Pioneer Resources ceo there is more to it you can see at cnbc. Com later today. Still ahead, questions growing around potential coronavirus vaccine. Meg will be looking at the divisive approach to fast tracking efforts former Vice President and Presumptive Democratic nominee joe biden will join us at 8 00 eastern. A reminder that we have a president ial election this year. E dewio believe. Jobin th squawk and the gang at 8 00 a. M derek, seems like your team is operating just fine remotely. Yeah, everything is running smoothly with the now platform. bling see, incident resolved. How did you. Gotta enjoy the small wins. You keep being you, derek. Keep being you. I geh. Common bird. E. Ooh look over here something much better. There it is. Peacock, included with xfinity x1. Remarkable. Fascinating. Very. It streams tons of your favorite shows and movies, plus the latest in sports news and. Huh run the newest streaming app has landed on xfinity x1. Now thats. Simple. Easy. Awesome. Xfinity x1 just got even better with peacock premium included at no additional cost. No strings attached. Just say peacock into your voice remote to start watching today. New china fears. Beijing set to crack down on hong kongs last remaining freedom to protest that is your friday set up and the moves you need to be making right now with one of americas top ranked Financial Advisors. In the retail wreckage, there will be winners. Who will come out on top we are here to name names. The ceo of airstream about how we may all be vacationing this summer and how demand for camps is red hot we are live on Worldwide Exchange here on cnbc welcome back. Tgif ill give you more breaking news given it is hard to believe. Monday is actually a holiday i had to be reminded of that monday is memorial day we are headed into a threeday weekend not only for trading but for most of us working as well we are just about half way through this 5 00 hour today following modest losses and u. S. Futures. They are down about 150 points right now. We are not seeing a huge move down unless we get a big reversal today. It will end up being a very solid week why do we say that all the major averages coming in this morning things can change. Major averages are up about 3 this week. Take a look at this. Small caps are looking big time right now. The s p small cap 600 and russell 2000 have stepped up and taken some names those indices up 7 and 8 respectively in four trading days by the way, before we get the stocks to watch. Youve got to watch hong kong. Beijing getting close to passing a new law which would effectively crack down on some of their freedoms to gather and protest. Remember all of those prodemocracy freedoms last fall we covered those could be illegal under this new law that spooked global markets. The hang seng in hong kong falling 5. 5 overnight well continue to watch the developments in asia specifically over hong kong. Speaking to stocks here, two names. Number one, Palo Alto Networks working from home helping their sales because everyone had to beef up security on Home Securities they expect the shift to home work will accelerate. Also, Harley Davidson restarting production in the United States. Operations were shut down midmarch after an employee at a plant in wisconsin tested positive for the coronavirus production on its best selling bikes and it may not shift to many sellers on the year, good news that Harley Davidson will restart production time for our friday exclusive on what Company Insiders are getting the most bullish on their own stocks the Top Five Companies seeing insider buying well count them down, five to one. Number five, Pen National Gaming number four, we just talked about it, Harley Davidson. Another big buy from their ceo the second big insider purchase in just a month. Stock three, carrier global. Ticker carr. Insider buying, multiple insiders buying totally 1. 6 million worth of stock. Number two, cortexyme, a san franciscobased biotech. Normally 2. 5 million buying would have topped our list but not. Check this out aon, the Insurance Company its longtime chairman bought 70,000 shares worth 13. 6 million. One person, one buy, 13. 5 million worth. That is the biggest insider purchase aon up 17 this quarter. Down 7 this year. Well see if that news moves the stock. Well bring you this exclusive segment every friday here on Worldwide Exchange. Biggest players posting earnings this week, target, walmart, lowes, home depot a lot of us stuck at home spent a lot of money at essential stores on our home others saw revenues take a hit due to stores