Morning. Education secretary rick perry calling it a deliberate attack on the Global Economy. Plus oxycontin maker, pharma filing for bankruptcy this morning. First up, though, a series of attacks on two of the Worlds LargestOil Facilities in the news the u. S. Is rejecting that notion saying the scope and the precision of the attack suggests the launch was made by the houthis but, in fact, originated by iran. Iran calling the claims baseless and unacceptable guys, weve been talking all year long about what it could take to produce a true supply shock. I think theyll come back 5. 7 Million Barrels. Look theres a temporary inability to get permian oil. You can only ship so much. You have one harbor who can handle it, two others. Corpus christi not yet i guess what im saying it cant. Were pumping too much and it does remind you if we had even more pipelines, we could just turn the spigot on its not the Strategic Petroleum reserve. Its the permian. There are a lot of key questions. One, is there going to be some sort of response with the saudis or the president s tweets in some way are we drawing iran in because we believe they were responsible and, therefore, what would that mean for the price of oil if, in fact, there was a backandforth. Were saying Cruise Missile were saying a Cruise Missile was sent in addition. I dont know. I think its wide open because were itching to do something against iran last week i thought when bolton was fired, i thought the praise of oil went down because the likelihood of potential hostilities with iran was going down given how hawkish he is. But this is a crisis. Im not saying it its a crisis, but im saying in terms of the price of oil and whats happening, its not its not the way it would have been, say, 40 years ago where it would have been you know, up 20. Are you creating a difference between texas and brent . Because some of the projections now on brent, 5 to 30 from jpmorgan, 75 out of goldman. If they turn on canada, they dont even bother anymore because their stuff is too expensive. I just dont think i think that davids right the one youve got to focus on is iran. I actually feel like the defense stocks are the big winner here, because if you know ten drones can take something out, youre going to have to have radar everywhere were going to have to have radar. Reuters is talking about sharing more intelligence. You need raytheon, l 3 harris those are the two best i dont want to cast too much, but you need this. Think about this lets say you have a solarpowered drone. Everybody, everybodys in trouble. Its a scary thought. Right it is its likely as the technology only continues to expand. Im not saying it ooh dis ay suitcase bomb. Youre saying some may come back this processing part of it got hurt badly we still dont have a lot of details, do we no, we dont. There are some notes today saying the Oil Service Company is going to do well. Some say it will do badly. I dont think we have a read on what was destroyed remember, the saudis are an odd beneficiary. They need prices up. They need prices u. Theyre still planning on taking aramco up. That figured in prominently. Invests may sort of want a lot of insurances in their ability to defend their production. Who wants that . Im not saying they have the same corporate governments action we, but this is another deal that the market doesnt want but you cant stop. Because the risk factors are so significant. The risk factors until today, these stocks have been the worst. It is interesting that wednesday and thursday you really started talking about the endless bear market so there are some shorts in the oil. You want to sell into the shorts you have to cover the etss and the algos that are nuts. They were like, if oil went up, man. A lot of people having an interesting morning today. I ya, real interesting. Speaking of the saudis we have more. I have to tell you the rumor mill a lot of rumors, a lot of concern from the saudi government, but no comment from the Saudi Foreign ministry which has been extremely hawkish aramco really only coming out with that initial starjts although, we were told again yesterday we would hear more from then. I want to get through a walkthrough over what weve seen in the past few hours. Reuters suggesting that the damage frankly, the damage was much more significant than we originally thought. Then the wall street journal report talking about the aramco deal and yet again the mother of all ipos thats in terms of the timing. A week ago you remember the minister got the boot from saudi arabias crown prince and many were speculating its because he was never truly behind the aramco as the chairman of aramco, the person in charge of the Investment Fund seeming to want to get that ipo must more fast tracked on its way to fruition thats interesting in terms of whats happening and the geopolitical sphere. Frankly, the tightlipped nature means they have significant worries over what the escalation of this issue could be and whether or not the United States could have their back. President trump and mike pompeo very quickly signaling out iran in tweets. Even the president a few hours ago saying theyre locked and loaded United States is by far the most present in the persian gulf. I spent time on the uss Abraham Lincoln just a few months ago if the United States wants to find out whats going on, they know it. That seems to follow the conversations youre having as far as saudi arabia and the United States. Certainly the fact that we havent heard anything on exactly took place is king cant, i think, because it just seems to me they dont want to make a commitment where they dont know if theyll have the United States to followup. Hadley, thanks for that hadley gamble will be coming back to that this morning. One last note, whether this gives them an incentive to deal. China and japan. I said, okay, look. Peopledont recognize that a battle for resources comes into technology the chinese are shortresourced. Thats one of the reasons why when you look, you see how much they have to import. This is another, of course, all we ever hear about is theyre playing the long game. You cut off oil. Do you know that most of the a huge percentage of what we ship goes to china theres no trade deal. They just need it. Oil trades, obviously right its a global commodity, regardless of where its coming from you dont hear them say, hey, listen, were putting a tariff on oil because they need our oil. They need our oil more than our soy. Soy. Yes, soy. Soy. Im aware of soy. They make a lot of it grow a lot of it in brazil, though, a lot. It turned o it to be a big win. A 17yearold low fixed asset investment. Why dont they put out the numbers . 6 is going to be very difficult to hold. Why do they put out real numbers . Remember people would accuse obama of putting out fake numbers . I mean were a democracy why are they putting out numbers that what is this what is i would say its for you, not at the viewers. We have a podcast when you do this, people are thinking is he doing thumbsup thumbsdown . Without shannon see mans, our producer, you would have a hard time thinking. We rely on them a lot maybe the chinese feel similarly. I think the chinese should put out better data. If they Start Talking inflation after this, ill start thinking theyre the democracy. Which theyre not. Nobody is claiming they are. I think the fiveyear plan passed us. And now its real. To burn a spin on seinfeld. Tens of thousands at gm have gone on strike its the first since 07 they failed to reach an agreement. The u. S. Looking at profits and job security gm saying theyve been on top. Remember in the old days what would happen they would say, look, were going to take temporary worker fos 15 . Were going to month ray were going go to mexico you cant do that. The president and the union. Who would have thought it. Elizabeth warren, the president , prounion this is really interesting what leverage does gm have they lost their mexican leverage they cant go to mexico. Plus, we dont know if theres a deal yet im going to nancy pelosi tomorrow. Excellent. Im going to you. I heard the speaker is coming. Thats good news. Were talking about an interview why dont we ask Speaker Pelosi before you decide in doing one of those things for the podcast. This is david moving his handses sideways david, can you see in the podcast when you do this crossing my arms . Im not crossing my arms fully attentive. Im paying complete attention to you. Speaker pelosi will be on mad money tomorrow thats going to be a newsmaker. When we come bamer bam at it favors a wave of lawsuits. Davids got an exclusive with ceo Stephen Miller and keep an eye on oil today squau squawk on the street by nyse will be back in a moment. Announcer sponsored by pimco. Always wants to hang out. And you should be mad your smart fridge is unnecessarily complicated. But youre not mad, because you have e trade which isnt complicated. Their tools make trading quicker and simpler. So you can take on the markets with confidence. Dont get mad. Get e trade and start trading today. Dont get mad. Through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From finding out whats selling best. To managing your fleet. To collaborating remotely with your teams. Giving you a nice big edge over your competition. Welcome back Purdue Pharma announcing this morning what theyre calling an agreement in principle on a landmark opioid Litigation Settlement of course, purdue, the maker of oxycontin, number one on the hit list when you think about the potential or those responsible for or are being held for the horrible Opioid Crisis that has engulfed the country over the last decade, over 4,000 deckaths now, remember, there already has been a settlement with two other states, but there are 24 states that have not yet signed on. This morning the companys chairman steve miller whos been there over a litter more than a year sat down to explain to me why this is an important moment and why hes hopeful he can convince any other number of state a. G. S to join said settlement take a listen. This is a fork in the road. There are two choices here one is to inplea meant the settlement, which means we have to get more states than beyond the 24 we already have, and well be working on that starting today but the other choice is instead to revept the litigation we think the best answer is put the company on the table, have a settlement so that all of the value can as soon as possible go to the unfortunate victims of the Opioid Crisis. Right now, a key part of the resistance of some of the state attorneys general, at least judging from this morning since you announced the bankruptcy and settlement is the sacklers contribution overall how much are the sacklers contributing to this settlement . The sacklers are contributing, fiftd owl. The company is worth 3. 5 billion. 3. 5 billion. 3. 5 billion and the rescue drugs amounts to about 4 billion estimated. Over a period of obviously many years so theres 7 billion dollars or or thats the company on top of that, 3 billion in resources guaranteed and on top of that, the lions share of the proceeding in selling off their overseas pharmaceutical businesses. There are some people who will never be satisfied, but the only way to test that would be to revert to litigation and expend all ore this resources that are available. Thats instead of helping communities who have suffered. The idea isthey will get a judge to agree on this plan. And the hope is other states will go along, it will be approved by a bankruptcy judge, and then theyll emerge from the bankruptcy, but it will be run by trust tees as a notforprofit company that is going to fund the various treatments and whatnot for and continue to make oxycontin birk this bap p. Well see. This morning judging from all the statements by thee on cnbc. Com, the entire interview they want them to pay more you saw the story ore the weekend, about a Million Dollars worth of wire transfers. They confirm there was money taken out of the country so its early days here, but purdue is obviously filing for bankruptcy and hoping the penalty is going to stick. What is mr. Millers relationship with the sacklers i asked him that. He took over a company that is a sackler company, but the board is now completely separate the management to a certain extent as well is separate but he had negotiations with them beyond the company itself, but the cash settlement comes from the Sackler Family. Arent litigation costs at this point difficult, painful . What leverage do they have to fight this in court . The point is if we keep fighting, were going to put all the money in in terms of both treatment, in terms of you heard him talking about those drugs that can be helpful. And so thats the thats the main point its like why spend it all on litigation were going to have as much as weve ever had right now. Wow i dont know i mean i just think why are they still making this stuff. It does have it does have a. No. For painful diseases. Theres j j getting sue and theyve done the same thing, something they think is doing good obviously the lawyers dont think so. Incredible story. Something to watch for today. Well get cramers mapd dash lgewatching wel t the latest since the saudi attacks. Dont go anywhere. Free access to every platform. Yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. No hidden fees. No platform fees. No trade minimums. And yes, its all at one low price. Td ameritrade. Everyone has something to say. But in a world full of talking, shouldnt somebody be listening . So. Lets talk. We are edward jones. With one Financial Advisor per office, were built for hearing whats important to you. One to one. Edward jones. Its time for investing to feel individual. When i lost my sight, my biggest fear was losing my independence. Mmm. Good. So ive spent my life developing technology to help the visually impaired. We are so good. We built a guide that uses ibm watson. To help the blind. It is already working in cities like tokyo. My dream is to help millions more people like me. Lets take a look at futures. The etfs are set for their best day of the year. Well see what ps when the eng llin i4 2 minutes. Welcome back were counting down to the opening bell before we get there, lets squeeze in a mad dash. What do you have alder bio, ald is the symbol, Danish Company this company has a way to combat a my grain an infusible one you have to have a drip, which some think its not as quick as an injection, but what i like is i think someone else should come in and bid for it. This is a very fastacting way versus the placebo it did well in the test. Theres a lot of progress made against migraines that can be so debilitating. Im the chief spokesperson for the American Migraine foundation it is a very big deal. There e theres several. Im surprised one is steeling this thats how big this is this is others fail i know as others fail, youre going to be put on this. The markets 30 Million People in this country. Im surprised theyre going to get this 80 premium is not enough. The opening bell. S p 500 at the nyse. Together for girls, dedicated to ending Sexual Violence against girls at the nasdaq wilmington trust, a provider of Institutional Trust services jim, do you chase some of these american apaches in the open in. No. I think some are constrained by the natural Gas Production they have so much natural gas, they domino where to put it. Its too expensive to pump could there be a day two only because theres so many shorts someone upgraded whiting some of these stocks have been down for so long, theyre reflecting well through where oil was when it was at 26. These things are some of them cut in half from there dont chase. Just dont chase. You mentioned whiting i think whiting is up. Schlumberger as well. Id take it as a loss it was updated last week dont forget you have this company slug hey, talk about being mucky. They could have sold that today and take an little more money. Yeah. I just dont look, theyre not up enough, you could argue with oil up 5. As david said, were getting so many different reports about when things will come back online, but how about the fact that its so easy to take things out. Thats the scary part is that these tools are so cheap to operate, and the defenses are not there yet. No. Who knows if they even will be us that these facilities are increasingly vulnerable . I think every one of them is vulnerable they dom have radar set up to detect. No. But there does seem to be a level of sew facetyfication in the attacks where they went after these spheres where they have this Hydrogen Sulfide gas where it can be removed before its taken away by oil tankers, and those spheres are very complex technologically apparently, and its not that easy to just patch them. They may need to be fully remade. Theyre dangerous. Theyre huge Holding Tanks that were talking about. This stuff is all combustible. I hate to say it but its easy to have these destroyed. These are combustible. But when we had a fire at marcus hook in philadelphia, its like, wow. Its hard to put out i mean i dont know. Are all of them out . The fires . I have no idea. Were not getting great information flow out of there. No. But at the same time the rebels in a statement warned that more facilities could be targetted. Thats the thing. Drones are easy and cheap, you know remember, if they run on solar, you can send them 5,000 miles. Right we dont talk often about the war between saudi arabia and yemen, which has been raging for some time. Hundreds of thousands. Greatest humanitarian crisis. No journalism over there. A huge migrant issue as well. Look i