1Squawk on the Street
. >> speaking of oil, we'll be speaking to bob dudley and patrick pouyanne about their joint oil and gas initiatives coming your way at 1445 cet right here on cnbc. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. ♪ ♪ (charge music) you wouldn't hire an organist without hearing them first. charge! so why would you invest without checking brokercheck? check your broker with brokercheck. > >>>. >> a bad fit in china. hugo boss shares sink almost 10% as the german fashion house says it's asia business momentum has deteriorated and cut it's guidance for the year. >> german auto makers lift car sales data in europe but the impact of volumw's scandal has to be through. >> martin schultz telling cnbc why it's the right thing to provide aid. >> it is our common problem. it's not only our problem but it's also your problem. therefore i think yes, you should help them with money. >> we're looking
insulate the company by this price. >> i would say that does well with trading oil. bob dudley announced plans to make the company work $60 in oil. we can defend our dividends, the key issue for him. the opposite view going forward, when you look at the earnings in the rest of the sector, a huge week for big oil. >> we have 50 to 60. if you cut the cost down to that level that will mean a lot of possibility in the years ahead. >> that is a subtle shift in there by someone widely -- someone widely respected. why are southside analysts finally getting optimistic? is about cost-cutting or some form of revenue stability? >> i think the cost-cutting is key. oil is not going to default but we will start to see those cost cuts take effect. some analysts are saying this is the bottom of the earning cycle. it may not be the bottom of the oil cycle. >> real simple here. this is inflation-adjusted commodities. down we go breaking through new commodity lows, getting near that multi-decade trend. >> oil has the ability to flow quickly. it is hard to store and the issue is that winter might be if oil
. that group has had way too big of a move. if we had bob dudley on to talk about where it is. bob, you're always welcome on the show. josh in california. how are you? >> caller: cool. i'm calling about the dutch company, the semiconductor. >> this mark has changed. nxpi is high growth. these are in bear phase. when it's over, we can buy them. i don't want to get in front of a freight train. nxpi, 75. rethink. go to nick in texas. nick? >> caller: booyah, cramer. >> booyah. >> caller: i wanted to see if now is a good spot to get in salesforce.com. >> salesforce.com had a remarkable quarter. it's a high growth stock. i get you can get a little rotation, get it between 72 and 73. if you take a three or five year view, go buy one. one of the few ones holding up. john what. >> caller: hey, booyah, jim. i'm a retired police chief who thinks that taser is the right stock at the right time because they have great products and now they have a continuing revenue stream. what -- >> i couldn't agree more with you. the stock has come down. we like the stock in the teens. went way too high. it'
to bob dudley. there were two massive names missing. exxon mobile and that was chevron as well. john watt sovereison as well. it wasn't cohesionion without exxon and without chevron as well. this is what he had to say about them missing. >> if you listen to what rex said, he made a lot of sense. this is a voluntary effort. not every company is going to join into this. we're not completely misaligned in terms of our views on this. >> reporter: so very interesting. he says they're not that far away, but they wouldn't get involved in this initiative. simon, bank of england governor, mark carney, head of the fsb, the financial stability board, is very worried that hydrocarbons could become uninvestable, unburnable, unusable and a black hole for investors if this doesn't go right over the next few weeks. i think everyone needs to wake up. it will be a very, very big few weeks coming up in paris end of november, early december. back to you. >> a statement for which mark carney took an awful lot of heat. steve, thank you very much. >>> for more on the oil markets let's bring in douglas tera
of two degrees celsius. absent from the agreement -- here is bp's bob dudley. , we think -- support that is the route that will allow us as companies to make our investments. it is not written out in the report because we wanted to bring the group together. >> is thought to reach a summit in paris next month. there is not thought to be any u.s. companies among those companies. finally, california has a mud covered interstate opening to traffic surely. interstate five was closed after flash flood debris blocked the roadway, stranding hundreds of vehicles and forcing some motorists to take refuge on top of their cars. at first word news right now. you can find the latest news on bloomberg.com. >> thanks so much. investors are brushing off week economic data. we had numbers that did not inspire anyone. you can see that data added over $4 trillion to the global stocks this month. >> and five, u.s. earnings helping to fuel the momentum. no fat hike this year. manley,us now is john chief equity strategist at wells fargo management. you are relatively a positive guy. last time you are here
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