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As being totally disingenuous. The jd of what happidea of whatt week with the minus 37, theres a couple of Financial Instruments that are wrong they are broken. We dont regard things as broken because it seems almost impossible that something could break. But the future that you see and the actual prices are very different, particularly in the out years. And i think whats going to happen is this has to go to zero again, because we dont have more space i heard the ceo of the largest Tanker Company on friday saying theres no room. Why should this number not go to zero it should go to zero faster than it did last time any chance it will go to zero. Yeah. Any chance that it doesnt because we will begin opening u some of these states thats certainly a hope, but there are times in life where people know that theres an instrument that is faulty. And they can shoot against tha ....
Lunch. Take a look at where we stand with the markets stocks are higher across the board as investors brace for the busiest week of earning season thus far the s p pacing for its best month since 1991, if you can believe that thats as Oil Continues to crash. Crude down about 20 today supply over flows and demand craters in our calmed economic world. As america looks to reopen the economy grads yually, purdue sas class will be in session this fall the University PresidentMitch Daniels said there is zero lethal risk or close to it for students he will join us shortly. Kelly, over do you thank you more than 140 S P Companies and 14 dow components are all reporting earnings this week lets get to bob with the latest it will be about quarter of the s p 500 reporting. ....
Week yeah. This is the expiration day so what happens is you actually its tomorrow, but people are trying to prep it what happens is rusty braziel explains to me, the rollover from the may contract to june occurs tomorrow. The reason that happens is because the may futures price converges with cash and expiration so in other words, youre looking at what the real price is its not the futures price so what happens is that imagine if youre producing at 32 a barrel, 33 a barrel like occidental, thats just youre hurting nobody can make any money at these prices rusty points out that after seeing this, the next month, it might go to zero and thats i think a lot of it is because where will you put it maybe keep it in the ground. It is extraordinary and jarring. And i think its causing the decline. Carl, whats so amazing, it was completely predictable thats why maybe the decline isis really overdone if its based on oil if its based on other factors, i dont know it looks like oil is bringing th ....
Also janet yellin saying maybe the Federal Reserve should be allowed to buy equities directly maybe they should be able to were going to talk about the markets all show long. And see if were getting getting around this area well look at where we understand with the indications. And where we think we might be in flat thing that curve waiting on tim seymour as well, tony dwyer will join us too, it is a big market day. Lets begin now with these markets. Guy adami, i have a statistic for you that i think may move you given the kind of weeks we have had in the moveup, the qqq well talked about on this fine program, is it now higher year over year. I mean, some of the its amazing what you can do with numbers, i didnt know that and thank you for sharing that, and happy monday to everybody. This is a good day, and listen i think you can take some glimmer of hope from that absolutely tims joining in, and hes been optimistic, which is good ....
This of course, the saudis are flooding the world with oil right now. The russians, its not clear where the heck they are because theyre very secretive, but i know who is not there, the drivers. Theres very little demand david and i talk about this with you all the time, carl theres this overall sense, you know what, if we just get things moving, things will come back again. We need customers. We need customers to get their hair cut, to go to the dry cleaner, the restaurants, and we need customers on the road without them, i really dont care what president calls who, you need a tariff to keep the to keep the saudi oil from coming here, and you need the chinese to restockpile, and frankly, thats still not going to be enough to be able to make it so oil real demand goes higher good point yeah. Sorry, carl. 6 Million Barrels a day, jim, is what im hearing right now as we still try to adjust. Even know we know each others cadences so ....