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Until the close, cnbc contributor stephanie link from tiaa a nuveen company. Welcome, stephanie thanks. Energy doesnt usually lead this market but is today on the oil bounce and questions about whether thats sustainable and given sort of the scale and increase in tensions whether the move is big enough to bring back the sector and commodity trade i dont know. I really dont because its been a tough industry for the whole year. For a whul of years now. So this is really more a supply issue concern. I think the Biggest Issue for oil are demand and the demand environment has been slowing and the revisions have been lower. So with that as a backdrop this might be just temporary. You would have thought oil would have been rallying much more than it did. I spoke as well about 20 minutes ago to one of the senior traders at one of the major investment banks and said was pleased to see the algos didnt disrupt the market when pompeo came out ....
Good monday morning. Welcome to squawk alley here with me at post 9, michelle carusocabrera, mike santoli carl and sara have the morning off. First up, bitcoin open for trading yesterday on an exchange run by the cboe. Heavy traffic causing outages on the cboe website, while the exchange also halted trading temporarily due to extreme volatility what to expect from Bitcoin Futures after what a wild week for that Digital Currency. A lot of people thought once this opened up were going to see it fall because people would be shorting it, but thats not stopped the rise it hasnt happened, but its only been a few hours, so lets see what happens take a look where we are, its important to point out were trading at a nice premium to the underlying spot price here 18,000 now over that cash price is 16,700, its been fluctuating, but you have a good 1,200 premium or so this is whats ca ....
Jcpenny and nordstrom reporting. Expected in just a few minutes, well be bringing to you. And pixars new films. First up. Lets talk about the markets with david rosen berg, the chief economist at gulskenshef. Good morning. Put the weekend into perspective. We have macro numbers today but still the discussion remains even though there was a quiet overnight in china. What theyre trying to do and if its what weve been asking them to do for decades. You know whats interesting . Everybody talks about how it comes as a surprise and practically every Economist Says ive been calling for this all yearlong. I think this is not a repeat of 1994 when china devalued 30 and ultimately touched off the asian crisis a few years later. This is more strategic in the sense that really the bigger story is not really the devaluation but the move to allow Market Forces to play a greater role in dete ....
This about their production schedule . Well, you know, i think, carl, that everybody out here cheers for tesla. I think that the notion Silicon Valley could revolutionize the Automobile Industry is something that i think people out here take great pride in, and i think everybody cheers for them. I think the challenge really comes next year, because next year is the year that the old guard, which is to say General Motors and other major manufacturers really come into the electric car market in size, and i think they are going to come way down market from tesla and thats going to change a lot of things, and im not quite sure whether tesla is ready to handle dozens of competitors with products at much lower price ints, but its going to be fun to watch, because in my experience at least, tesla has built one of the fines ....