Of these winners that we now affectionately refer to as the fang stocks . Two Money Managers go head to head, one still likes and the other one says maybe time to look elsewhere. Two emerging market currencies that could have major implications for the boarder market. Why everybody should be watching them, ahead on closing bell. Lets start with this friday selloff, bob pisani on the floor here at the exchange. The bottoline is we are not getting any bounce at all. We opened we gapped down more than 20 points on the s p 500 and essentially we have been sitting at the lows all day. There have been really no significant attempts to rally and every time we have hit a lower low weve seen a little spike in volume. Five to one, seven to one, somewhere around there declining to advancing stocks, notably weak of course oil and oil stocks under new lows here, right across the board, apache, big company down 6 , here is exxon, the majors arent down nearly as much, down about 1 . Defensive names a
Anybody on board why bother having the meetings at this point . Its a great place. I dont think they want to pay for the hotel room at this point. Our colleagues caught up with a member of the saudi royal family earlier today. Well bring you that in a few minutes. First lets talk about the goldman call on crude. The firm is cutting its forecasts. Its one month view is 38 barrel. Thats a significant decline and thats a fairly short time measure. Theyre saying 38 within the next month. A decline of 7 off the 45 its sitting at right now. The 12 month target is down to 45 barrel but goldman says the risk is that oil could fall as low as 20 barrel. They say that risk is rising. Among the reasons, a big sur plus of oil with the scarcity of storage space. In fairness its a differ guy. That was the super spike. All right. Equals, 300. No, wait a minute. All right. No, thats the wrong okay. 20 we think its going to 20. It was a different guy. But wasnt it 2007 right before i dont know. It was l
Degree. The real question is, why . Is black friday dead as an entity in the Holiday Shopping season . Well get into that and more. We did all those stories leading up to black friday suggesting that it was losing its cache. In fact, that its goneful left the building just like elvis and hearing from tony hsieh. Now starting to open up brick and Mortar Stores in vegas and a popup store open 24 7. Almost a showroom. Perhaps a glimpse into the future of retail and where hell be coming to us from and a realtime view on zappos sales there and online. We are getting indications cyber monday is strong. Not just zappos but among other online retailers, sales very, very good today. Now about oil. You think its going to be lower because of opec. Speaking of black friday. Its going the other direction today. What a bounce up more than 4 on wti crude. Posting the best oneday gain in two years. Was that the bottom we had over the weekend . One top Oil Executive thinks it may have been and hell be
Less than 200 votes. Also, a bill sponsored by the republican over the keystone to outline will be in the house this week. To the keystone xl pipeline and specifically what congress should do about it, we want to get your thoughts on if congress should approve passage and building of the Keystone Pipeline. If you support the measure if you oppose the measure want to make your thoughts on congress and how they should act on keystone, on , you can contact us on twitter, facebook or email. Mikeng us on the phone, lillis on the hill. Good morning. Can you give us a little background on the scheduled votes on keystone and how this happens . Guest sure, obama was trying to delay without having to deal with it and hoping to get out of office. No unanticipated this would foren in the lame duck something to the louisiana race was going to be close. But when republicans came back and said, hey, lets vote on this one more time and this is not the first time theyve voted on it. Theyve done this a
Mike . Did you see the picturest that has a red hue isnt that auspicious . Lucky color. You are the expert. I learned from the best san rafael 101 southbound the fog is pushing to 580 so be careful. You may want to use the low beams and remark is building. Through the waldo, it is clear. We do not see too much fog at the bridge interest San Francisco. There is extra traffic but not too bad. This story is not auspicious saying good by to cheap gas prices that will spike in the near future with two factors leading to this pain. That explosion is fire in torrance yesterday is bing to have an exact. It happened at the refinery that produced 1056 of the gas. And a strike has shut down the Tesoro Laboratory in martinez. Two refineries are down now. Polices have been going up and expect that to continue. Drivers say they feel like it was inevitable and they know a they have to do. The commuters, it will impact them and will have to dry less and take Public Transportation and walk some places.