carla va vele carla valero periodista. >>> buenas tardes desde barcelona. el ambiente que se vive en la rambla es de mucha confusiÓn. los medios locales hablan es de un atropello masivo, es la informaciÓn que por parte de telemundo no podemos confirmar de 2 personas muertas varias decenas de heridos. y como comentabas. Él estÁ buscando. se ha pedido a la gente que no salga a la calle, que sobre todo no vaya a la plazcataluÑa que es el centro de la ciudad las tiendas han cerrado sus puertas. hay testigos que estÁn circulando por la calle que han tenido que ser acogidos dentro de las tiendas han puesto el cerrojo y la gente sigue adentro. varios testigos paseando por las ramblas han hablado de la brutalidad de los hechos. >>> se sabe de las personas atrincheradas en este bar. >>> por el momento lo que se sabe, es un restaurante turco que estÁ muy cerca donde se ha producido el atropello masivo y de momento los tienen acercado nos se puede confirmar ninguna informaciÓn extra. >>> la actividad policiaca descrÍbenos cÓmo estÁ en ese lugar. >>> las cal

cole bunts right down the middle and tcu wins the valero alamo bowl by two. enjoy your friday. see you at midnight. >> our thanks to scott. >>> you never know what's going to happen on live tv especially when dinosaurs show up. we'll show you next. >>> also ahead the marijuana munchies. one fast food's idea to cash in on california's new pot law. before you and your rheumatologist move to another treatment, ask if xeljanz xr is right for you. xeljanz xr is a once-daily pill for adults with moderate to severe ra for whom methotrexate did not work well. it can reduce pain, swelling and further joint damage, even without methotrexate. xeljanz xr can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections, lymphoma and other cancers have happened. don't start xeljanz xr if you have an infection. tears in the stomach or intestines, low blood cell counts and higher liver tests and cholesterol levels have happened. your doctor should perform blood tests before you start and while taking xeljanz xr, and monitor certain liver tests. tell your

mandates that will strengthen or going tighten the market further and we think whether it's endeavor, valero, marathon petroleum or phillips 66, all those stocks will do well, and we think that they will uth perform the market as well. can oil stay around $60 a barrel, wti, not brent, doug, if we get a million barrels a day added in same the permian basis or eagleford shale in the next 12 to 24 months? >> we think that wti and brent are going to be well above that level. i mean, we think that the forward curve is 15% too low and let me make a couple of points about that first on the demand side, we have a goldilocks scenario in place, global gdp is in positive territory and the u.s. which is 25% of gdp will have lower taxes next year and our economics team believes that will lead to better economic growth which bodes well for oil demap the demand side is not talked about as much because the focus of the debates is on the supply side as you pointed out it's on u.s. shale hand whether or not cooperation between opec and non-opec can continue. so we fully believe that u.s. shale output us going

new $700 million loophole for oil and gas partnerships that will benefit oil giants like shell and valero. they had no problem creating a new loophole for wealthy individuals with large real estate holdings, a loophole that's been described as a jackpot for the trump family and for several members of congress. they had no problem retaining the carried interest loophole at a cost to the treasury of $20 billion. i remember during the campaign when candidate donald trump railed against the carried interest loophole as a giveaway to wall street that was unfair to american workers. again and again, candidate trump promised to kill this loophole, but president trump now enthusiastically supports keeping it in the tax bill. well, yesterday at the white house, republican leaders and president trump celebrated the tax bill, while at the same time many in the majority party insist that the federal government can't afford to help nine million children who depend on the chip program and tens of millions of working americans who rely on community health centers or the affordable care act for access to

the valero station put seals on the pump that should indicate tampering. >>> we look at the toll plaza, chp is asking drivers to be careful and remind you to wear those seatbelts as you travel this thanksgiving holiday. maximum enforcement goes into effect tomorrow to monday. statewide, 27 people died during the thanksgiving travel season last year. >>> right now, 6:08, getting ready to head out the door, mostly clear skies. throughout the day, in san jose, a cool start. 53 degrees at 8:00. noontime, so nice and comfortable. 68 degrees. then highs today in the low to mid-70s. cooling quickly after sunset. we get a look at this forecast, we are heading closer to the holiday. maybe you are planning on traveling. just wanted to give you a brief overview of what we are looking at. rain in florida. there's a little bit of snow up around michigan. we are going to have the best weather, i think, as we go into the next couple of days. i'll have a look alt today's temperature trend for fremont in four minutes. mike, you are tracking two reports for the east bay? >> we doubled the number of repo

. >>> police say a credit card skimmer was found on the pump at a valero on westwood drive west of the 101.>> that woman since $1000 was taken from her bank account over the weekend. at least 40 victims have file complaints. the skimming machine could have been there more than one week. smart phone apps can detect a blue tube signal and police officer suggest using a pump closest to the convenience store or just pay with cash. >>> firefighters say the rain may have played a role in a recycling center. green earth management is a company that recycles green waste located on industrial avenue and king road. one of those mulch piles caught fire sending large flames of smoke into the air. firefighters say the me -- rain may have contributed. >>> a winter storm watch takes effect tomorrow through thursday. rosemary says some levels could receive more than one foot of snow and higher elevations could get more than two feet. there is a travel advisory for tomorrow and thursday. >>> let's turn it over to rosemary. this one has a lot of energy. >> it will be wet and windy. we have our share of

. >>> if you went to a particular valero gas station in the past couple of weeks, check your statements because a skimmer was found inside of the gas pumps. >> it was in pump number two at the gas station west of highway 101. >> ktvu's jessie gary says there is no way that people would detect that something was wrong until they learned that money was missing from their accounts. >> reporter: karina says $1,000 was withdrawn from her bank account after she swiped her card at this pump at the gas station in gilroy. police say it is a crime migrating from southern california to the north. >> have you ever seen this kind of thing before. >> it is rare. in southern california, it is more prevalent. >> on monday, at least 40 victims came forward. filing complaints of credit and debit card fraud. that number had could grow. investigators found a card skimmer similar to this installed inside of a gas pump. they say it could have been hidden for over a week, collecting thousands of victims' information. >> we tend to think it was a crew or somebody with a lot of local contacts or contacts that a

police in gilroy say if you went to a particular valero gas station in the past two weeks, you better check your credit card statements. there was a skimmer found on pump number 2 on westwood drive west of highway 101. >> the bank texted me and said your withdrawals. and i called them up and said no. >> a thousand dollars was stolen from her bank account over the weekend. at least 40 victims filed complaints yesterday. now, police say the skimmers could have been there for more than a week. there are several ways to protect yourself against skimmers. some smart phone apps can actually detect the bluetooth signal hidden by a skimmer. police say use the gas pumps closer to the convenience store and you can always just pay cash. >>> the time is 7:40. new information about the three ucla basketba plays detained in china. in just minutes at 8:00, what we just learned about the three heading back to the united states. >>> plus, teaming up with technology giants to stop hate speech. up next, how big names are helping the latest efforts of the antidefamation league. >>> it is a slow one this

police found a credit card skimmer attached to a pump at a valero station near first street and hecker pass highway. authorities believe the skimmer was there for a week, maybe even longer, they are now asking anyone who purchased gas at that station to check their bank statements and make sure that you aren't a victim of fraud. >>> this morning there is now another bombshell accusation against roy moore and a fifth woman is leveling charges. she claims the alabama senate candidate sexual assaulted her when she was only 16 years old. abc's lana zack is live in washington, d.c. with more on this latest allegation and the growing call for moore to step down. lana. >> reporter: good morning to you, jessica. more people are coming forward in support of the women and their allegations, but few people, if any, particularly none here in washington, are coming forward in support of candidate roy moore. republicans are abandoning alabama senate candidate roy moore as another woman comes forward to say moore sexual assaulted her when she was just 16. >> i tried fighting him off while yelling at

warning to drivers who stopped at one gas station where a credit card skimming device was removed at the valero gas station on first street. they believe the card skimmer had been used at the pump for at least one week. no other card skimmers were found at this gas station. police are telling drivers who recently used a credit card to buy gas to check their bank statements.>>> coming up next, bart police are teaming up with other bay area police departments to try to crackdown. >>> the california senate is changing the way it investigate sexual conduct. by taking money from foreign governments and threatening to shut down news organizations that report the truth. if that isn't a case for impeaching and removing a dangerous president, then what has our government become? i'm tom steyer, and like you, i'm a citizen who knows it's up to us to do something. it's why i'm funding this effort to raise our voices together and demand that elected officials take a stand on impeachment. a republican congress once impeached a president for far less. yet today people in congress and his own administration k

he arrived, he was staying at the valero. he went to the church, he exited, he fired into the front of the church, he moved to the side of the church, continued to fire, that he entered the church and continue to fire. but as far as the exact time, i think with the 911 calls, we can tell you the first call that came in and with our good samaritan, of course he was there. we know when the call came in. within 4 minutes, the wilson county sheriff's office arrived on the scene but as far as the exact time the first sho shot. >> when was the call? >> i believe so, yes. >> how many victims still in critical condition? >> we have ten that remained in critical condition. thank you for coming out this afternoon. we will keep you updated through the dps twitter as well as through our email please. >> sandra: authorities in texas wrapping up a briefing, giving an update on that mass shooting that happened at that small town church on sunday morning. what we just heard from officials there is that all indications point to this being a s

he was staying at the valero. we know he went to the church. he exited. he fired into the front of the church. he moved to the side of the church. continued to fire. then he entered the church and continued to fire. but as far as the exact time, i think, you know, with the 911 calls, we can tell you the first call that came in and with our good samaritan, of course, he was there. we know when the call came in. within four minutes, the wilson county sheriff's office arrived on scene. as far as the first shot, i can't answer. >> -- is that the one he used to call his father -- >> i believe so, yes. >> one last question. >> how many victims still in critical condition? >> we have ten that remain in critical condition. >> ladies and gentlemen, thank you for coming out this afternoon. we'll keep you updated through the dps twitter as well as through our e-mail please. >> as you just heard, the officials saying they will not go into motive, that there was a family dispute and they are having difficulty getting into his phone which has been brought to quantico.

shares are up about 9%, british petroleum up 8% on our side of the atlantic exxon up around 3%, refiner valero up 6% oil-related stocks could be looking to have that catch-up trade. the sector is still negative on the year, one of only two sectors, the other being telecom. as of now, the energy sector the biggest bright spot, but the caveat is we're working off a very well low base >> thank you,dom. >>> tim, i'll go to you. >> the news is extraordinary it's historic, 70% of the population is below the age of 35, so this is definitely geared towards a change. >> i don't get why oil is sent to those levels. is there risk that supply is in jeopardy >> first of all there's a lot of tension in the region. there was a ballistic missile over the weekend fired at the reyam airport. it claims to be yemen, and i think there's a lot of dynamics here, but what's taking in prices hire is -- higher, two, you saw a massive accountback in ocap ex. i think you have a dynamic where oil hughes gene down 44%, not -- and everyone has doubted this move you started to see the energies move, the underlying in stocks

authorities say kelly was dressed in a ballistic vest when he arrived at a valero gas station near the first baptist church around 11:20 a.m. at a news conference last night, officials said he crossed the street to the church and began firing a ruger ar. assault type rifle. kelly then entered the church and fired at worshipers inside. according to the military, kelly, who is believed to live outside of san antonio was in the air force until 2014. he was court martialed in 2012 for assaulting his wife and child. kelly worked as a security guard for texas water park this past summer according to race may under his name that appears online. investigators said kelly did not appear to be connected to any organized terror groups. the governor of texas had this to say on the magnitude of this horrible act. >> as a state, we are dealing with the largest mass shooting in our state's history. the tragedy is worsened that it occurred in a church, a place of worship. >> one of the victims in this close ni close knit communy the daughter of the church's pastor, a 14-year-old little girl named anna

kelly was dressed like you said in black tactical gear wearing a ballistic vest when he arrived at valero gas station near baptist church, at news conference last night, officials say he crossed the street to the church and began firing a ar-assault type rifle according to military, kelly was in air force until 2014 but he was court marshaled in 2012 for assaulting his wife and child and received a bad conduct discharge from the air force. kelly worked as a security guard for a texas water park this past summer according to resume under his name that appears online. investigatorrors say kelly didn't appear to be connected to any organized terror groups as well. as for this community, less than 400 people total, the challenge now is coming together as almost every corner of this town is impacted. >> we are going to try and do our best and comfort and minister how we can. >> we lost great friends today and had great friends injured. >> this is now the eighth place of worship shooting since 1990, 1999, unfortunately it does appear to be the worst church attack in u.s. history. rob and jackie

over my shoulder you see a church and a few industries, the valero gas station is in the entire area but the street that we are on right now, it's a neighborhood, this is an area that has about 4000 people that lives in it total so a situation like this where 26 people are killed, everybody is going to know somebody who was impacted and that's going to make the grieving that much more difficult in this area, jackie. jackie: horrific. in the wake of the horrible shooting top democrats pushing agenda renewing stricter gun control. kelly wright with that part of our coverage, kelly. kelly: images of heartbreak and saddens are seen throughout the small parts of sutorland springs, texas, in the aftermath of senseless act of violence democrats demanding they take action against guns. we agree with all the families and will stand with survivors and may ask for wisdom that we can take and former vice president joe biden tweeted this, americans murdered in a place of worship, jill and i send our prayers to sutheland springs. and senator kamala asking for gun control. this time in a house of w

. >> at approximately 11:20 this morning, a suspect was seen in a valero gas station in sutherland springs, texas. he was dressed in all black. that suspect crossed the street to the church, exited his vehicle, and began firing at the church. the suspect then moved to the right side of the church and continued to fire. that suspect entered the church and continued to fire. as he exitedthe church, a local resident grabbed his rifle and engaged that suspect. the suspect dropped his rifle, which was a ruger ar assault-type rifle and fled from the church. our local citizen pursued the suspect at that time. a short time later, as law enforcement responded, that suspect right at the wilson-guadalupe county line, he ran off the road and crashed out and was found deceased in his vehicle. >> and now ed lavandera joins us now from sutherland springs. ed, we're learning more about what happened. but virtually nothing about the why so far. what have you been hearing? >> well, that motivation is what drew him to this church. still very much up in question. a couple of interesting things to point out. k

. >> how did you all know he was at the valero? >> after the fact from our investigation. >> was there a videotape of the service? >> no, we [ inaudible ]. >> you're hearing from the governor in stockdale, texas, along with the sheriff. here's what we're learning so far. we heard from the dps knowing that the texas ranger was involved, the atf. here's what we know took place. 11:20 a.m. the shooter was at a gas station dressed in all black. he crossed the street, went to the church, started fired at the church, went around to the right side of the church, continuing firing and then walked inside the church to continue firing upon the people that are inside that church and then he exited the church. a local citizen confronted that citizen. he dropped his weapon. authorities saying he had a ruger ar assault rifle. and he was then pursued in his vehicle and his vehicle then veered off the road and when authorities found him, he was deceased inside his vehicle. 23 people were shot inside of that church, three outside of that church. 26

give it its own directors and shareholders and suddenly it becomes for amenable to a take spin off valero spun off its chains of gas stations and convenient stores as c s t brands and the other one we like became the bidding war between the pair of circle k and 7/eleven. honeywell want to spin off its home business. down dupont, it's going to bring its up into three smaller companies. i think it's an opportunity. and finally, i watch out for potential spin off of fmc corpse, lithium division lithium goes into electronic batteries. spinoffs can be lucrative even if they don't seem to be working. we will keep monitoring these stocks for you, that's who we work for and after considering how well they've done we're going to profile all of the major ones going forward so you can make up your own mind will be whether they're great opportunities. john in ohio >> caller: hello mr. cramer i've owned phillip morris for several years. i took some off the table as you direct but ooud like to know whether to hold, sell or buy the rest >> its difficult because i didn't like to recommend tobacco compani

brent crude up a percent in early trading check out shares of cabot oil and gas, marathon petroleum and valero, some big leaders so far today. that does it for this hour of "squawk on the street. let's head back for "squawk alley." >> thank you very much welcome to "squawk alley," carl quintanilla with jon fortt. >> the dow briefly crossing 23,02 23,500 for the first time ever, records for s&p and nasdaq bob, it's broad and grobl. >> it is global markets starting with strong inflous, record highs several factors closing those strong inflows most importantly a global economic expansion along with it we have improved earnings global.

investor is a catalyst >> here is a specific oil pick, valero >> overstock.com, i bought it today, there's a blockchain, bitcoin angle to it. >> yankees up 1-0, mel >> health care too much to the downside thc. >> i'm melissa lee see you back at 5:00 for more "fast money. "mad money" with jim cramer starts right now >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey i'm cramer welcome to "mad money. welcome to cram america. other people want to make friends i'm just trying to make you money. my job, to educate and attach you. call me at 10800 -

while the firms' production dips, shares of valero up 18% since harvey marathon petroleum up 11%. exxon near lly 8%. lipow telling me the hurps had a major impact in production the stock impact has been so minor because there are factors like overall global supply glut as well as demand, guys. back over to you. >> kind of what john was just saying thank you, landon. >>> we have about 20 minutes to go before the bell we have got gains, not quite the highs of the day up about 0.3% for the dow. less than that for the nasdaq and s&p. health care at the bottom of the stack. we got telcos and banks. >>> one of the fascinating movers is allergan 'rgoshares are dropping. wee ing to tell you what's behind the 3.5% decline when we come right back. i think it's terrific. your kids go to college and you start trading. >>yeah, 5 years already. 5 years, hmm. you ever call your broker for help? >>once, when volatility spiked... and? >>by the time they got me an answer, it was too late. td ameritrade's elite service team can handle your toughest questions right away- with volatility, it's all abo

threatening big multinational oil interests what would you say to people it chevron phillips sixty six valero energy. he who invested billions in refining imported venezuelan oil for the united states they were surprised many refineries in the united states are built for our oil and to to change that technology it's millions of millions of dollars i don't know if the president of the united states is aware of that and if he was aware of that before issuing these these sanctions but i believe these companies that are that have invested in venezuela and i are very happy in venezuela should talk to their own government and make them take within the boat decisions and if anyone watching this interview which is a program on c.n.n. the statement a b.b.c. corporate media in the states saying that you are torturing people imprisoning people killing people on the streets of venezuela what should they do we have made a big effort you know eight million venezuelans voted for the national constituent assembly not even savvis ever ever had these figures and what they did was they they were patient they sa

. >> if you talk about valero, and all the banks have gone out recently the stocks have moved in reaction to it but, again, trade the range here, we are at the top end. maybe fang at a cheaper price, or just finding -- that has robots that's doing well it's a difficult thing >> the xle, the s&p, was down over 1%. a broader aggregate versus the -- and i think the burden remain -- the bear has to -- just had a good one, but does it really go higher from here >> that's a good question. >> again that wall of worry. >> i think people are in they believe it's cheap. >> we have been here this movie is on about it's eighth act >> carter, thank you very much >>> hedge funds bouncing back, seeing their best performance relative to the market in seven years. we'll tell you what stock specifically was keeping them afloat >>> tesla releasing their numbers. shares a bit under pressure. we'll talk more about what may drive tesla ahead, stick around. what powers the digital world. communication. that's why a cutting edge university counts on centurylink to keep their global campus connected. and why a pr

holly, valero, phillips 66 refining stocks have hit new highs. a real oil rally going on here supplies have been tightening. opec compliance has been increasing share activity is higher not as high as some feared demand is increasing a little bit. the question is is this rally for real it's the biggest rally for the year look at the xle. etf for big oil names is up 10%. this is far and away the biggest rally of the year. we've seen many attempts to buy bottoms that have all indended n heart break. the good thing about it is investor sentiment is terrible nobody wants anything to do with this sector. money is very small. the energy and the s&p is only 7% right some analysts are saying it's improving and it's cheap i can't tell you how many times people have said this is an interesting bottom for oil skepticism is very high and that's the best thing that it's got going for it dow is p 48 points, david. >> skepticism abounds. >>> still want to get to nestle holding an investor day. first under new ceo dr. snyder of course, responding in part to pres

bought gas at a gas station off highway four in antioch, police found six credit card skimmers at a valero gas station. the skimmer is a device that fits over where you put your credit card in and steals the numbers. someone found a skimmer. when police went over, they found six of them. if you bought gas, there better check your credit or debit card for any suspicious activity. >>> there is an effort underway to lift up and ease san jose neighborhood that has been dealing with blight and crime. part of the effort include the new mural. it's being painted in our lot village. looks good, too. a lot of people who live there say that neighborhood get a bad rap with old run down buildings, attracting loitering and crime. they say when the mural is finished, it will represent and celebrate the history, diversity and culture of the area. >> my interpretation of the story is that it has to do with the aloni people who are native of this land. >> my hope is that people will start -- start enjoying the east side and not labeling us as this terrible area to live. >> reporter: the plan is to have tha

they discovered a total of 6 credit card skimmers a valero gas station on summersville road at delta fair boulevard. just across from the summersville town center. a skimmer is a device the criminals use to steal credit card numbers. earlier today they responded to reports of one skimmer at the station. when they checked the pumps they found 6 skimmers. investigators say it is important if you bought gas at the station to check your accounts for potential suspicious activity. >>> san francisco officials under fire under the over the emergency response for the record-breaking heat on labor day weekend. they did not open any cooling sensors until the day after. the fire department ran out of ambulances and had to request mutual aid. >> friday of this year's labor day weekend the hottest day in san francisco history. unprecedented 106 degrees. medical examiner says three people died as a result of the stifling heat. >> we could have done more sooner. >> reporter: supervisor called a meeting among city officials responsible responding to an emergency like the heatwave. >> when the mercur

documents reviewed by the international business times shows that two of the companies exxon mobil and valero. certainly lobbied against an e.p.a. rule to prevent the government from more strictly regulating the toxin as a fossil fuel group that counts three of the companies as members the agency ultimately passed a rule strengthening overall benzene regulations but only after the company's filed critical comment letters the trumpet ministration and his e.p.a. has lowered the bar for these regulations so that they don't have to report during force majeure or hurricanes the release of benzene so right now is something like three or four times safe levels there's no safe level for benzene but there's four three or four times acceptable that the e.p.a. is willing to accept for humans to be exposed to it right like that you can have two or three rat hairs in a candy bar but you can add like a hundred different writers in a candy bar not exactly so it sounds like an environmental catastrophe yeah that's what's happening china's cleaning up there in my environmental catastrophes we're going the oth

here is a gas station over there valero beat up pretty good. a couple of pumps might be bent. i'm not sure that will have to be inspected before they can put fuel back. in a lot of the the gas stations sold all the fuel they had until the very end last week. here comes some more utility trucks right now, guys. see how they are coming in like this. this really started. we saw a couple of convoys last night. i took individual overthe i council i have coming. in we believe it was from california, we are told filled with water and stuff. in the last maybe hour, the traffic has ticked up significantly. you are seeing even more scenes like that where those are the power company trucks. i'm not sure where they are from. and you are seeing that intermixed with people that are clearly coming back home. and you have to have, obviously identification to show you live here to come back. but it's been good. people are honking and giving us thumb's up. keys known for being own republic down here. they are very resilient people. the building process has started by hand. our hotel where we go

she will valero's refineries and taxes are back to free storm refining rates and exxon mobil has resumed shipping fuel. point,store -- at one the storm shut down 90% of u.s. refining capacity. theresa may will try to force theresa may will try to force the pace of brexit negotiations. later this month, she will deliver a speech to make the case for continuous talks. the u.k. wants to move on to the issue of trade, while the eu wants to settle other key issues first, such as how much the u.k. will pay an exit fee. there are growing doubts that a deal on rewriting the north american free trade agreement can be reached this year. according to officials familiar with the negotiations, the latest round of talks in mexico city is coming to an end without any major breakthroughs. president has threatened to pull the u.s. out of the agreement. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. scarlet: coming up, count down to december 12. apple investors won't have to wait much longer to see what the t

brought to refineries online valero brought a refinery on line there's a couple in port arthur that are still doing assessments at the same time in lake charles louisiana they've slowed down some refinery production so it remains to be seen how high they will go nationwide average but as i said you know people should be filling up their cars that are long lines in texas but you know everybody fills up usually for labor day weekend but they want to avoid the price increase save a few dollars i'd fill er up now right hurricane harvey the numbers we're seeing right now is that it could add up to be the most expensive natural disaster in history will congress actually provide this disaster assistance as much as that means because a lot of people are liking not only at the at the disaster assistance but the economic growth impacted by the storm people thought katrina it couldn't get worse than katrina and this is going to be exponentially worse yet you saw a couple of things there i mean great incisive question so on the disaster aid front just within the last couple hours the president anno

. -- valero and hollyfrontier. mark: investors choosing to invest on the macro, whether u.s. data, euro zone inflation data, and chinese take -- chinese pmi data. best friend for two weeks. -- trend for two weeks. a big corporate story, shares earlier down 15%, the biggest drop on record. for the french biggest retailer. it warned a second half of the year will be as tough as the first was gives the new chief executive a bigger challenge to turn around the company. the outlook prompted for analysts to reduce recommendations. -- four analysts to reduce recommendations. a drop in earnings was a bit of a surprise because they previously said second-quarter sales beat estimates. volumes in food failing to offset the effects of a price war and the operating margin in france, which accounts for nearly half of sales. it fell 70 basis points, down 14%. inflation in the eurozone taking up speed, more than economists predicted, underlying cost pressures, failing to accelerate. ,he headline is consumer prices up 1.5% in august from 1.3% in july, ahead of estimates. the biggest -- best r

valero is trying to start two refineries right there but the capacity of the refineries are not what we're losing in port arthur area. that is good news. even if they bring the refineries back online, what do they do with the oil? the port of galveston will not open until september 5th. a lot of those pipelines are still down. it doesn't do you good to bring refineries back on line if you have no place to put the oil. the colonial pipeline situation very, very sears are. if that pipeline happens to go down we'll have real possibility of gas shortages. let's hope that doesn't happen. ashley: don't even mention it in harsh terms. we hope that doesn't happen. great stuff as always. phil flynn at cme. thank you very much. >> thank you. cheryl: you know it seems that no matter what the president does, the media will slam him either way. the media is tearing into president trump. media said he should have met with flood victims or mentioned donation options. the president treat tweeting this out. after reading false reporting and anger in dying magazines makes me wonder why. all i want to

valero and citgo said to be on the verge of restarting refineries in corpus christi. the secondmakes landfall as expected, the nation's largest oil refinery could be hit. the loss of refineries in that region would leave only facilities in louisiana supplying fuel to new york and other demand centers. president trump is promising that taxes will get emergency disaster aid quickly. he said there will be "very rapid reaction from congress." still there are signs that there may be a political fight over the money. a top texas conservative, financial services committee chairman, says he wants to cut spending to pay for the response to harvey. global news powered by more than 27 or journalists and analysts in more than 120 countries, i am courtney donohoe. this is bloomberg. big: let's get to another story moving markets -- north korea firing a missile over japan. president donald trump says all options are on the table. stephen engle files this report from tokyo. stephen: shinzo abe twice converging meetings of his security council following what he called the unprecedent

we don't have a current update from valero. they're saying their under gulf refineries continue to operate corpus christi, no but i'm wondering -- they've been the guy who has given me the best information now. >> let's take a quick break. we'll come back to cramer's mad shs count you down to the opening bell than your health. so if you're on medicare or will be soon, you may want more than parts a and b here's why. medicare only covers about 80% of your part b medical expenses. the rest is up to you. you might want to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what medicare doesn't pay. and, these plans let you choose any doctor or hospital that accepts medicare patients. you could stay with the doctor or specialist you trust... or go with someone new. you're not stuck in a network... because there aren't any. so don't wait. call now to request your free decision guide and find the aarp medicare supp

in terms of valero, there's upside left in the stock if you go back to 2015, vlo topped out around $72. given the fact that oil could move lower, i mean, the stars do line up for these guys, probably in terms of the stock prices. >> and the 3.9% dividend yield valero is paying out, people are absolutely gravitating for this is a name, the margins are going to improve for them. this is a stock, again, people want to own because it's a defensive play that's where the money is going to gravitate toward. guess what, they're going to continue to raise their dividen dividends. dividends going to continue do go higher. it's where the safety money is going to fly into. >> that's the key. safety remember, people need some place to go. not like people woke up on friday, today, said i want to own refiners totally outperforming. 2.8 million a day shut down. that's going to add a lot more oomph to refiner's stories. >> how deep will the energy industry feel the impact of hurricane harvey robert raymond, founder of rch energy, joins us on the fast line from dallas, with the swrout lo outlook followi

six major oil companies have closed their refineries, exxon, shell, phillips, new star, valero. scott shellady is with us. all right, wholesale gas prices up about 4.5% as we speak. i'm told that translate ares into a 10-15 cent per gallon rise nationwide at the pump. is that accurate, scott? >> yeah, i think that's accurate. it's on the low end. it could actually be a little bit more. and you know what it really is going to come down to is, basically, this storm and what it's done to the price of gasoline will be a short-term tax on the residents in the u.s., and that'll help get us through it. ultimately, this will abate, but right now we're going to see a short-term tax on gasoline probably when we don't want to see it. stuart: am i right in saying it'll take several weeks to get the supply back up to normal. weekings as opposed to months, right? >> yeah, it'll take weekings. and the good news here is we are very resilient, stuart. to come back in weeks is still a big story, and that's great. like i said, there'll be a short-term tax, we'll all get through it, but right now i

the polis index was in -- -- the euro is benefiting and because of the euro, other currencies like valero are benefiting. we will be talking about this in a little bit. mark? mark: right. a big week for central bankers as they head to jackson hole tomorrow for the annual economic symposium, hosted by the kansas city fed. mario draghi will be there before he flies across the atlantic. he spoke in germany, repeating the old playbook is out the window when it comes to monetary policy. >> policy actions undertaken in the last 10 years, monetary policy and regulations, supervision have made the world more resilient. but we should continue preparing for new challenges. us to break down the cap forward for mario draghi and the ecb, and a look ahead to jackson hole is a pemco portfolio manager. -- pimco portfolio manager. thank you for joining us. let's talk about mario draghi. he did not talk about the euro or the impending ecb meeting which takes place at the beginning of next month. it leads us nicely to his speech on friday in jackson hole, wyoming. nuggets mightwhat he giveaway on friday abo

crude is declining more than expected natural laggers are valero and hess as well that does it for this hour of "squawk on the street. let's go downtown to nyc >>> good morning, it is 8:00 a.m. at the disney headquarters in burbank, california it is 11:00 on the east coast. and "squawk alley" is live ♪

julia: when we are talking about refiners that would be impacted, we are talking about chevron, valero, because these are the guys who have calibrated their systems to be able to cope with the high density oil that comes from venezuela. i guess i would expect lobbyists for these guys or the company themselves to go to the government to this point in say this is you do this what would happen with the oil situation. i have to question degree upon which we would you some kind of -- see some kind of oil pricing. is there anything to suggest this is the kind of rising wti prices we would see, and a line for that, how quickly would we adapt, even if prices went up $10? we would shift it around, get oil from other sources. how quickly would oil prices come down? >> i think barclays came out with a report last week that couldted that oil prices jump five dollars to seven dollars. i do not think the refiners number is way too out of whack. they are making their case aggressively to the administration. the white house, i think it knowledge is -- acknowledges it. there would be impacts in the u.s

biofuels sought by valero energy and backed by billionaire refinery owner carl icahn. icahn want to shift the responsibility for fulfilling annual biofuel quotas away from refiners to fuel lenders or other entities. a global news 24 hours a day, than 20 700ore journalists and analysts in over 100 countries -- 2700 journalists and analysts in over 120 countries. this is bloomberg. julia: what will they do with all the new money coming in? we will discuss. from new york, this is bloomberg. ♪ julia: this is bloomberg markets, i'm julia chatterley. scarlet: let's head to julie hyman for today's vector spider report. julie: focusing on energy today, xle the most heavily traded etf down one point 75%. most of the selling is concentrated in the exploration and production companies. as opposed to acquit meant and littles, which has change. it was higher until just a few minutes ago. selling concentrated within those e&p companies. just like yesterday when we saw piner natural resources lead the industry down, many of the shale companies are the ones underperforming today. ki

biofuels program sought by valero energy and backed by billionaire refinery owner carl icahn. that is according to people familiar with the decision. have lobbiedahn the to shift responsibility for fulfilling annual biofuel quotas away from her fighters to fuel blenders and other entities. an update on a story we told you about last hour. the associated press reports barcelonatives from soccer star name are have paid over $263 million to release him from his contract. this clears the way for his siding with paris st. germain. the payment shatters the previous world record transfer for paul pogba. global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. david: may be in the wrong run of work. -- line of work. gary cohn is a longtime goldman president, now president trump's economic advisor and now within the arms reach of the holy grail, the chairman of the federal reserve. ,ere to talk about his chances we have two guess. we have heard from gary cohn, we have seen him as this imposing figure in t

refiners like valero, chevron, phillips 66, are in extremely precarious situation, heavy sour crude oil are purchased from venezuela. they can purchase that oil from other sources. in the long run should oil go missing from u.s. oil, venezuela will have to sell the oil elsewhere. the quality of the venezuelan oil, it is essentially mud. u.s. refineries most sophisticated of the world are natural buyer of this oil. should venezuela have to sell the oil elsewhere, they will have to greatly discount it because of lower quality and longer tanker hauls required. stuart, here is the interesting part which many viewers probably don't realize. the u.s. is also significant supplier of oil to venezuela and this is really what the trump card is for the united states. so last year 30,000 barrels of light crude oil were sold to the state-owned oil refinery for venezuela. should the u.s. ban export of oil to curacao. they have to go to africa to pay the higher price for longer tanker hauls. u.s. sold 75,000 barrels a day to venezuela. should those exports are missing. venezuela will be stuck, going t

we get about 10% -- >> you know, companies like chevron and valero are saying, wait a second, we make a lot of money off venezuela's heavy crude. the u.s. could shut that down. venezuela is our third biggest importer into the u.s. of oil. we can get our oil elsewhere. what's happening right now is really seriously dangerous. constituent assembly is about to take power in 72 hours. truth commissions will be launched to root out and exterminate -- that's the word i'm hearing from sources in venezuela finish -- the opposition. this is another cuba on the u.s.' back doorstep. neil: so the idea that maduro, he's acting like a dictator, worse than chavez, he is trying a new constitution so he can ramp things through faster. >> that's right. neil: but a lot of people are interpreting that as just getting one party hitler-like rule. >> yeah, that's right. in other words, it's the military controls not just the food supply, but the mines, the gold, copper and oil. so this is exactly the fidel castro model. hay put a puppet in front, and the military ran cuba's big tourism operations and hotels