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exxonmobil and t. boon pickens. jcpenney getting a big downgrade. and more optimism for apple. another analyst ups the price target. first up, one day after the dow closed at record highs, the private sector added 208,000 jobs last month. that was a bit below street forecast. meantime, oil prices rising slightly this morning but down almost 35% from six months ago. last night on mad money, oil tycoon boone pickens says he expects crude to return to $100 a barrel. take a listen. we ve increased production, a million barrels a year for the last three years. and that is remarkable. no place else in the world has that happened. so consequently, i think you re probably going to see opec do something in the first quarter of next year as far as cutting production. but i m not so sure how much they have to cut to get to where i said you would be in 12 to 18 months. you ll be back at $100 a barrel. fascinating. there is a school of thought that when production responds ....
170-plus billion dollar company. that s a huge move. it is and it s incredible those earnings still could blow it out. a lot to do with frozen. we talked about it yesterday but the reaction initially was not as strong as what we ve seen throughout the session. it s held up well throughout a volatile session. speaking of volatility, look no further than oil. remember the big rally we ve been talking about and the price of oil, it has reversed itself. it s now given back all of the gains that we saw the last two days. the price of oil settling down more than 8% today. for a period of time it was down 10% just off the lows. we ll talk more about that coming up. more market moving earnings also due out in an hour. we have 21st century fox today, keurig green mountain under armour yum brands. don t miss a moment of it. we re waiting for the big unemployment number on friday. right now it stands at 5.6% and the unemployment rate is a big lie. that s not me saying th ....
market when oil prices are moving lower hello and at the time that was often said, listen this is the wrong interpretation. today we have higher oil prices and a lower stock market. we ll take a closer look at what was a formerly red hot group that has recently gone in the tank. we re talking about the utilities. those supposedly safe stocks just about in bear market territory now, and if you watch this show and you read cnbc.com you knew that the fall the decline, was coming. we ll show you why and see if there s stocks are going to bounce back or just keep heading lower. this is key to watch for the entire rates discussion hovering over this market. we re also joined today by robert johnson, founder of the black entertainment network and the nation s first african-american billaire. the hit tv show empire has a story line that seems to closely track real life events for johnson. we ll ask him about that, plus his take on net neutrality and the income inequal ....
off 20.6 and the nasdaq, that s the one that s off 39 as you can see right there. also keeping an eye on the small caps. flipping through and looking for the names as they get more attention on the valuation here and more and more people want to play these as a way to protect themselves against some of these external currency moves. watch this index for signs of overvaluation or a pull back. what s calling the shots today? oil has been continuing to move lower on more evidence of ever higher inventories in this country. we re still just pumping like mad and filling up coffers around the country, so the price of wti crude is now at $45, and brent north sea closed below $55 a little while ago. and, oh, by the way, the dollar continues to move higher as well. so we re now at $1.05 at this point. look at the round number on the dollar index. 100. it was not that long ago this thing was trading in the high 70s. a huge move. again, a lot of that is against the euro but it ....
that s down and a check of the markets at 153-point rally. s&p up 17. nasdaq up 54 this hour. the small cap russell 2000 leads higher off the mid mf-month lows and perhaps more than anything is the october surprise. joining us now, rob morgan, michael cagino, christine short is here, peter costa and our very own rick santelli heading into the weekend. peter, this is a really strong rally now. we re up over 10% on the s&p in just about 12 sessions. how do you feel about it? well, you know, i ve been on the bearish side. i think that what you re seeing right now is people are rotating back into stocks and equities. i think the earnings are coming in a lot better than expected. and i think that, you know, they want to put money to work and still two months left and they feel more risk on and take it off other places. rob i was going to say, peter, we know the costa family fortune. i m not speaking to anyone in my family right now. i would imagine. do you feel ....