Squawk alley. Morgan, thank you very much. Good morning. It is 8 00 a. M. At snap headquarters in venice beach, 11 00 a. M. On wall street, and squawk alley is live. Starting from the bottom, now were here starting from the bottom, now my whole team here startied from the bottom, now were here started from the bottom, now the whole team here good thursday morning. Welcome to squawk alley. Jon fortt, sara eisen with me here at post 9 along with Business Insider ceo henry blodget. Good to see you this morning. Good to see you. Eight years in and still going strong. The s p rallying nearly 250 since hitting that closing low of just over 676 on this day in 2009. This is the second longest bull market ever. Oil, on the other hand, falling below 50 for the first time this year. Of course, had the worst day yesterday in about 11 months. Just to put the rally into perspective, henry, would you have been skeptical of for a long time, more now than ever . Yes. The higher we go on valuation basis
Lows. And wells fargo shares under pressure. Ceo john stumpf, well take you live to washington for the latest details. Duncan donuts is teaming up with cocacola. Nigel travis is in the house and will be joining us here to talk about the news and what some are calling a restaurant recession. Get his view of the big picture in his industry coming up in a little while. Deutsche bank falling on signs that some of the counter parties are reducing exposure to europes largest investment bank. Joining us now with more on this, cnbc fast money trader brian kelly. We have kate kelly and senior markets commentator mike santoli. It started around mid day when word got out that these hedgefunds were cutting back on their Counter Party relationship. The report just to review was internal document suggesting that a bunch of hedgefunds reduced they are relationship there. And essentially this highlights concerns about Deutsche Banks Overall Health and whether it is the right place for hedgefunds to st