quickly on your stock pick i see valero i see salesforce everything's been tough. >> the balance of growth and value here growth stocks tend to perform well during periods of slowing economic growth, which is what you expect we're not talking about conceptual companies these are solid companies like salesforce and cloud computing and we like energy, tight supply demand still isn't back at 2019 levels valero tend to benefit as more barrels come out of the ground and also the spr reserve should expire in october. all that is positive for energy. >> it is shockingly high, astronomically high in a name in that space thank you for your time. appreciate it. >>> meantime, nato leaders are in spain for one of the most consequential meeting in their 79-year history. it's already having a major impact on global defense spending look at lockheed and raytheon, significantly out performing the market northrup is up almost 20%. kayla. >> reporter: kelly, allied countries are bolstering their defenses against russia, which they've now officially declared as the most significant threat to the transatlanti

in his classmates participated in the contest in one best design, which is now being built at this valero facilities. so that either door they go through this tube here is 12 made as long as they hype. we use it to try a different hyperlink models in low pressure and as a perfume that we can obtain different pressure levels with an electric at home with. and then we also have solar panels on top and out here with these panels, we generate the energy that's needed to keep the pressure low to lay rolison. other companies are trying to create a mode of transportation ideal for distances between 41500 kilometers. one, be sanitized team are developing the model in spain, but other countries could profit much more to see of, of without pre advanced infrastructure. the thing is that you need to have a molar gate, the technical specifications. i strongly believe that europe is good march. now you see others where the infrastructure is done. it plays yet. and you see dubai. you see india where infrastructure, good be good, but is anti great. i believe the regions and yoga piece is going to take pl

. >> you have particular ideas like eqt the net gas producer the refiner of valero. you still like exxon and chevron. you say the most underappreciated stock istia near, why? >> you think about the impact they've had globally europe was in a lot of trouble to start the year because they were going to run out of natural gas potentially. 85% of the exports have helped refill the europe natural gas story, which is going to help brace europe to get through next winter in regards to natural gas. fundamentally what i like about it and the market is not appreciating it is the company can generate a significant amount of cash flow year after year after year and the free cash flow yield is double digits and that type of double digit free cash flow yield for that duration should not just be priced at what the current price is >> there you go. it is in the green today so is valero rob, we'll leave it there for now. we'll check back soon. and a 10-year note top of the hour go up for auction this is a biggy. rick, how did it go? what are yields doing? >> it was a nasty auction. d

and we're just shy of that right now and about a third of a percent decline and the nasdaq down 0.75 valero and deafon up about 7% and marathon up about four the cruise stocks are some of the worst performers, royal, norwegian and carnival down 1% the nasdaq more than 28% off the major averages are coming off a sharp bounce the dow is up about 6% since its intraday june 17th low the s&p has gained 8%, and june 16th intra-day low well now to the market it's got more to prove than this is just a fleeting snapback and our next guest says he expects a 10% rally this summer led mostly by tech sector barry manster from stifel. on what are you bearing your prediction >> sentiment was very washed out. we wrote a report last week calling for this 10% bounce to 41.50 in the s&p i could see something closer to the mid 4,000 range and that would be close to 14,000 nasdaq and we're 5% below the street's estimates and it's a sentiment bounceback as people feel like peak fed, peak tightening was already priced into the real yields of the treasurys and that's what compresses the price-earnings ratio is tho

are the first refiners that have been added personally i own valero. personally i own eog, pioneer. i think overall when you're looking at energy, it's the one aspect of the cyclically sensitive area of the equity market that i don't think you can move away from i don't think you can move away from it just because the pure fundamentals when measuring supply versus demand, there's just too much potential risk if in fact you move into hurricane season and we have an effect on gasoline supplies or natural gas supplies or as we move into the fall and we know that there's going to be turmoil and tumult surrounding gas supplies into europe so i don't see this as the one sector that you can move away from your overweight allocation and think to be tactical. >> we've got a lot of energy ownership on the desk. i want to point to a carter worth tweet back on may 31st he was telling me to short the xle and be long the spy. ten weeks later, we're thinking take the money and run the s&p 500 energy sector down 15% since may 31st the s&p 500 index up fractionally bre

well, is already waiting for them inside the aircraft, jorge, valero, and his team are conducting final checks 10 mechanics step spend several days getting the engines, landing gear, and electronics ready for take off. after 18 months on the ground. they too are optimistic about the future. companies that will have passengers, people are on the wall, they start to fly again on its lot of job bud, steve friends 2 years ago because philly there early. the lead smell a smiling day in the face of the people. finally, it's time for the pilots to go on board. the preparations for their flight are much more extensive then for a normal takeoff. ted well is not an active airport. there are no air traffic controllers, no electronic control system. the pilots will need to use maps to navigate and are largely left to their own devices in handling the airliner your home kinda folks which or it has no control tower that we can talk to. we have a so called uni. com frequency which allows all aircraft in the area to communicate with each other and again. so we'll let them know what we're doing when we

i would like to salute alejandro valero hawaii. people are searching the far right and the fact that we have to stop them middle, silverman, maddox, easy in this decisive moment. all of them you villainous father, future of our new leondard. what good grandmother, nothing can be as at wise. well, this friends and also that my, i would like to give my hand all of those one to work for francis leon. ready to invent something new. and i'm glad you in order to federal read, convict janice and a different sensibilities of it. who in order to build a do together a common action unless you're in the service of our nation, followed handling. yes, it's hard to a little comfort, theos, to all our fellow citizen is i left all school that will ever chose abstention or an atheist trembling for it because they are the angry because of persisting inequalities and are rooted insecurities of their everyday life. on the difficulty to live and dignity, even if you are a current order or more what? because if they dont feel represent at our listen to

>> valero. >> the fundamentals hold up. >> i am going to stick with mills. with venmo >>> they keep doubling down. today the hard open. lower prices. then we had a sharp rally off the lows. a slow down in china. both positive. nothing negative. this morning we go to the numbers on the street. this strangles the living daylights out of the economy. why because china is pretty much all rural goods. we need them to order. we need their government to tap out of resources. trying to keep this real estate market afloat. you better pray the chinese economy stays stagnant. how could the market be so stupid as to sell off the news this morning? simple. every point since the bottom mid june, bears don't know how to quit. let's not forget unlike europe, it's the chinese economy. it's a bank over there. never worried about china causing global devastation. because the government can and will resuscitate the economy at gunpoint. with that in mind, let's turn to the game plan rest of the week. normally i like to go watch. they start saying one day which is very good place

a top conductor, valero, a gag, if has been fired from his post as chief conductor of the munich philharmonic. the fighting to criticize his longtime alive vladimir putin, across europe and the united states and russian artists with ties to the kremlin, had been put on notice. speak out against to president putin or be prepared to be cancelled o one of the world's most visionary conductors, and a long time ally of russian president vladimir putin. for years concert houses in the west looked past conductor, valerie garr gibbs close ties to rushes. authoritarian leader, but after putin ordered the invasion of ukraine, many are finding that impossible, and are demanding the conductor distance himself from putin. new york's carnegie hall cancelled garr gives appearance. so has lascola opera house in milan. in germany, munich, mayor gave dare give an ultimatum, denounced putins war against ukraine and against munich sister city, kiev, or lose his job as chief conductor of the munich philharmonic. dare give didn't respond. on tuesday, the mayor fired him one of the world's top opera, singers on a t

i like valero, too it is a company trying to do the right thing. refining is a dirty business i think the stock is going higher i'm sorry about the loss of your brother but you're doing the right thing for your family. jeremiah in florida. >> caller: long time listener. happy to be on the show today. a company that hit the 52-week high but last week the ceo sold 30,000 shares. diamond back energy. >> travis dice the ceo of diamond back energy is a visionary and it is an amazing company that is certainly welcome in anyone's portfolio. why don't we own it for the charitable trust we own almost every darn one wow! fang is a great company. that's a the new fang. a toerm i created. some may despise the oil and gas giants but the economy is dependent on them right now and got to embrace them if we get the price of gasoline down at the pump much more "mad money" and the exclusive with centennial 1. can they defend itself in the market i'm reviewing a few companies that might be worth buying if you take a long term view and the calls in the lightning round

players is upon us their top pick is valero and phillips 66. also quickly note that the wild activity in nickel continues jumping 15% today and hitting limit up. >> wow thank you. >>> let's look at shares of meta down today now there's a new trouble spot for the company. julia boorstin has the detalts julia? >> kelly, there are a number of red flag about rid flag right now. audiences spent less time on the platform facebook's mobile app usage down in the first quarter, a deceleration and with user declines come advertising under pressure insider intelligence tells us exclusively slashing the revenue forecast by $2.5 billion this year and next year and digital ad spending below 22% by 2023 down from 25% share in 2020 and a state of small business report showing the small and medium-size bz advertisers under growing pressure 1 in 5 closed. higher number than it reported back in july also today, rich greenfield writing that meta is vulnerable to competition and lack of competition to the pivot but atlantic equities is bullish saying meta is restor

. >> valero made an all-time high a few months ago. what is a sweet spot to names like that in the refineries and big names? they love high prices and not so much now. >> the finest love it. that is terrific when we had massively high for gasoline and diesel. these are come up significantly. the gasoline parks are really basically collapsing from where they were. they are an issue and gasoline demand is gone down. walter december, january and february see u.s. gasoline demand growing significantly. now, with the latest several weeks of data, we are seeing gasoline not only below a year ago, by about $1 million a day for gas or diesel and the lowest since 2020. that is remarkable. the refiners are concerned about where it is going and they are happy that the price of crude is going down. without the product demand, they are not going to get the profits from diesel. >> art market does look like it is pricing in a recession going forward. thanks for joining us. bonawyn, what is your take? >> heads versus unhedged production is going to be

if you are valero or pdf how do you pick >> of course, it is $50 a barrel margin they are making an enormous amount of money. you would think with the strong dollar and with massive prices in the u.s., we would not be exporting. we are exporting to europe and latin america. they can't run refineries either the refining crisis story in a world for example in washington where they don't understand energy well, i don't think they get it at all. of course, in russia, you lost 1.5 million barrels a day. europe, as you highlighted is a mess the did news for u.s. refiners for profit ability, we have low natural gas prices gas here is $8 btu not off from the all-time record that is less than the $30 in europe the energy world at the moment right now is insane. weneed to talk more. >> we do i think there is so much talk about the energy transition that may or may not happen. you know, people have the takes. if you don't like the price of gas, go out and buy an electric car. the people hit by the price of gas are the ones that are not buying a $60,000 ev. >> that's the priceof the ev it's going up. it

valero up 72%. delek up 86% and pbf energy is up 140%. they have six refineries and one of two operating in the state of new jersey as the east coast has had a shortage of refineries and that explosion of the philadelphia refinery in 2019 just reducing jut put. pbf up 140% since january 1st. as you know, energy is the only thing that has been working consistently in the stock market this year. the sector is up nearly 50% to begin 2022 it is one of two in the s&p that are above water. utilities, they're up less than 1%, but they're not down 10% let's talk more about the energy sector and get more into the refiners is biraj borkhataria. good to see you, biraj last time we met was in november in london. good to have out the program you heard me talk about the smaller independent refiners in the united states. obviously exxon and chevron do refining as well are there any names in the u.s. or globally that stand out more to you right now >> thanks for having me on i think this global refining rally is really a global phenomenon we see it acros

commitment to bringing down inflation and oil prices in focus pulling back down about 1% and that's sending valero down 8% and halliburton shares down 6% and chevron up more than 4% >>> all right, we start with tesla and questions about its growth ceo elon musk warning that tesla's new factories are, quote, losing billions of dollars. the comments were made during a late-may interview that are just now coming to light, ramping up new factories is, of course, a cash-heavy business. tesla shares are down 30% so far this year all while musk could potentially buy twitter. here to discuss tesla's road ahead is colin rush, research analyst at oppenheimer he maintains a buy rating and a price target of $191, and tim higgins and a cnbc contributor tim, why did this -- did these quotes about the hemorrhaging cash take so long to come out? >> they doled it out as slowly as they did. i think their idea was they were more interested in the excitement of products and this isa side note that that's why they're curious about what's going on and austin could become the next manufacturing helm which hurt tesla in

valero, vll. look at these refiners, unbelievable >> thanks for watching "fast money.anywhere "mad money" 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 cramerica i'm trying to save you money my job is not just to entertain but to educate and teach you call me at 1-800-737-cnbc. or tweet me. stop giving up on companies you believe in you'll be wrong more often than you're right, and you'll end up kicking yourself on days like today, when the dow surged, the nasdaq sky problem etted -- skyrocketed we were puzzled of how some of the stocks were so doing so poorly it was crushing us and then i was reminded when i worked with karen cramer at my old hendge fund i would see a stock down big and she would ask me, did you do your homework? i would say yes. she would say, do you have

i would say the crude oil contract is down today and that is energy with valero and marathon and exploration areas like the xop those have seen very robust speculation in calls betting the prices go higher rather than lower. >> before we let you go, we have to talk about the broader market f fomo trade is way over people are looking for quality amazon seemed like quality cloud marketing is up. we expect logistics to take a down turn as the pandemic breaks where is amazon? >> i think quality for some investors like warren buffett, for instance, the pe is still too high as good as the company does and as great as it is top of mind with consumers, it is just not a company that will attract that kind of investor it could attract a host of other investors, frank i would think after the week it had last week, amazon will be on some people's radar this week. >> jon najarian, i appreciate the wake up and insight. >> thank you >>> that does it for us on "worldwide exchange. the dow could open 100 points higher it is still early. dow closed down 900 points on friday "squawk box wi ctillonnue to break

environment, if you look at what's leading and running, i feel that we have some energy exposure, in valero, eog think that's the right place to play the energy space. we have more beta to the sector in those two names we are trying to get full movement of energy names i think the thing to think about is is it right now the time to add from a cyclical perspective, and again, i see other opportunities in other sectors, given what energy has already done. >> josh, wasn't long ago you added ieo, you don't add things often, but this is certainly one place you looked >> yeah. i actually don't think stock picking in this space matters at all. i think this is a one way trade and that is predicated on oil and gas prices remaining elevated and u.s. companies continuing to invest less than they ordinarily would have during commodity price spikes. if this was 2005, 2006, they would be fracking and drilling their heads off. they're not doing that because i think the signal from wall street is keep up the great work, guys, with the profit growth these are companies that many of which had been private co

smucker's and valero and domino's pizza keep it right here we are back with "worldwide exchange" after this break that occur in their lives. for them it's the biggest milestone, the biggest accomplishment, the sale of a business, or an important event for their family. for them, it's the first and only time. we have seen this literally thousands of times, in thousands of iteratio ♪ ♪ i am vince lumia, head of field management at morgan stanley. whether that's retirement, paying for their children's college education, or their son or daughter getting married, our financial advisors need to make sure that they are making objective decisions, every step along the way. every time you hit a milestone, an anniversary, a life event, the emotions will run high. making sure that you have somebody, a team of individuals that have seen it before, have seen every circumstance and seen every challenge, and have your back when you need it most, is one of the most valuable things a financial advisor could provide to a family. i am vince lumia and we are morgan stanley. (vo) get verizon business u

companies that president biden sent letters to last week including exxon, chevron and march athon and valero and bp. asking why they are not producing more oil they may push back saying they are running at 90% capacity and driving the refineries to produce more could pose a safety risk by overburdening the facilities and crew. keep in minds, , this is an industry that has been told it will be phased out and now asked to make more joining us now is mike sommers ceo of the american petroleum institute. representing 6600 companies. mike, good to have you back on i get to play the role of the administration in our discussion here first off, my source told me the meeting was at 11:15 to noon, i thought that is short. what are you hearing about the meeting today? >> as you know, brian, it would be a short meeting we obviously would love an opportunity to spend more time with the administration to explain the intricacies of the refining business. as you mentioned, our refineries are operating at a 94% level which is historically high level. refiners in the country are really putting the pedal to th

is the worst performing sector today with significant drops for names like devin energy, occidental, valero and marathon oil coming up we'll hear highlights from sara's panel with wells fargo ceo charles scharf including whether the u.s. is heading to a recession and his latest read on the housing ma market jerome powell vowing to fight inflation speaking at the european central bank forum earlier today saying the biggest risk to the economy would be to fail to restore price stability but a soft landing still possible >> we think there are pathways for us to achieve that, to achieve the path back to 2% inflation while still retaining and sustaining a strong labor market we can do that that is our aim. there's no guarantee we can do that it's something that is going to be quite challenging >> joining us now from jeffrey's, david, how are you feeling now about the markets and about the fed's chances of this soft landing? i mean, he's not saying i feel really confident we can do it but maybe. we're still hoping >> yeah, i think his message has been very steadfast and i don't think there's much

and look at refiners valero makes a new all-time high every day. so regardless of fed outcome decision rhetoric, i think energy is still the place to be. >> i think the fed could absolutely be more hawkish in the past 24 hours we have had two former fed vice chairs coming out and saying that a recession is likely. >> and no big deal. >> and we'll take one journalist out there to ask powell is 75 basis points on the deck and if they say yes, that is a po possibility, that is hawkish. >> the market is following through on expectations of fed intentions they're relying on the market doing what it is doing and relying on market doing a lot of work for them. and have we priced in peak fed, peak inflation, certainly there have been inflation and hot inflation numbers since their last meeting that would give you the sense that the ammunition of all that we're expecting and heard is what we'll get. but again i look at spot commodity prices and copper i think is starting to price in peak inflation i realize we have sticky labor markets. but this is a case w

when you go to valero's refine any louisiana, you're so impressed by how much they do to control emissions. that's not the dcase in china. if our greenies want to have the fuel that everybody in the world needs, it's predicted that there will be increasing need through 2050 we should be refining in the united states. as regards the rins, they are using corn for making ethanol. it could be infused into the grocery supply complhain to low the price on groceries i think the policy on rins is way off. >> we're back to record use for coal, not here, but in china and india. a lot of these things we're doing, it's hard to really see whether we're going to have a benefit anytime soon on it and if we're going to 2050 with increasing oil, none of this really makes sense, and there's going to have to be some 180-tea1 180-degree moves across a lot of industries and government is going to have to do that, face the facts that you can't get to zero emissions next year or the year after that. >> yeah, so this administration lacks a strategy they hwill focus only oemission but not the energy supply and nat

seven companies president biden sent letters to last week about adding refinery capacity marathon and valero and exxonmobil and phillips and chevron and bp and shell they are asking why they not producing more oil refineries are running above 90% capacity and asking them to do more could pose a safety risk. we will see if they make that argument they will bring up the issue that the administration has been telling them their industry will be phased out over time. they will be asked to square that circle. >> brian sullivan was talking about this early this morning. he knows the situation well. according to his sources, it will be a 45-minute meeting which is not a lot of time to sit down and have a productive conversation about things that may be able to be done it is more of a scolding do this and on your way. >> isn't this a photo op a 15-minute spray. a photo op you don't want to be in >> hthis is jennifer granholm. a little bit of a mess >> you don't want to be left out. >> left out of the group >> not one of the big seven. >> what about number eight you are right. you don't want to be th

natural gas and gasoline futures taking a breather today, up 10% or more on the month exxon mobil, valero, apa all with really nice gains today look at, that you've got apa corp. up almost 7% now to a vegas bet this is not a casino stock, but vici properties is a roeit witha big footprint on the las vegas strip, the biggest in fact the stock is trading near its all time high after it was announced late friday it's being added to the s&p 500 it has outperformed the benchmark in the past month, quarter, six months and for the year, and joining us now is vici's ceo edward pitoniak good to see you today. >> congratulations on being added to the s&p 500 i'm just curious what this does for your company in terms of exposure, what does it do in terms of access to capital, and what do you do with it >> yeah, it's really the latest chapter, contessa in what's been the institutionalization story that vici represents just over four years since our ipo we've grown markedly during that period our market cap when i first started was 4 billion. today it's over 30 we had a couple dozen properties, we're u

pioneer, valero, marathon. new highs there. i mentioned this big momentum. it has been quite a rocket ship in the last two weeks. since the close on the 14th. the 15th we've had up 11% on the s&p. up nine of the past 11 days. and the last hours have been remarkable we closed at or near the highs for the day. nine out of 11 days. the last hour has been a rocket ship a lot of momentum. this looks like momentum people coming in. it's been interesting to watch this look what has been moving. it's basically a lot of tech names and consumer discretionary in the last couple of u weeks. arc innovation it's 33% consumer discretionary the market is holding up because the economy will hold up it's simple. we're end the quarter here 234ur78s are holding up. the rest of the year two, three, and four the analysts have been raising their estimates recently zwroefr all for 23022. up about 8% these companies are gushing money and trying to figure out how to return it to shareholders dividend or buy backs, for example. there's a few sectors seeing their earnings coming down a

. -- before we think that valero, which is what i will be recommending is completely devoid of any reason to be -- or marathon p, what's happened is there a tremendous pull in diesel from europe by the way, the worldwide market but this jet feel, they have had to pause and make a lot of jet fuel because there is more travel once again, kinds of like, jay powell is god, i wish they would stop traveling already. >> well, that may start happening, right, if the monetary loss -- the balance sheet issues of the house -- >> i think it will but i think right now, they need to push it over a little the two-year is up so -- by the way, if you want to get a mor mortgage, those mortgage rates they are no longer just given to anybody. that's a big change because a lot of people are worried about credit rask because the amount of debt is doubled versus what we thought. >> that brings to us spreads, which we haven't touched on. high yield, biggest loss in almost two years on triple cs. yields near 21-month highs we are going to start talking about fallen angels at some point i imagine. >> yes, we are i

the refiners at all point i did say that valero has the best quarter of any company. the refining margins are a disaster. that is a bad looking chart. >> we have to downgrade a pioneer today. although piper -- proxy. >> you must just keep hitting the wrong key. he has got like moxie. >> he is almost 20% of it. >> there is no stopping him now. that downgrade which i regarded as heresy. my trust owns it. scott shuffled men's it, it is the number one dividend yield in the s&p and i'm supposed to toss it out. >> they are talking about taxes and some other non-core issues, i guess. >> i think that these research departments say look you have to cut one of them. you can't just ride around with eulogy and pioneer. give us one. okay we will sacrifice pioneer but throw pioneer. that is the main volcano we call that, that was the main and the volcano downgrade. underperformed to one of the greatest managers. scott show feel just saying i am going to destroy that guy. >> which fires he destroying? the analyst? that is a waste of his time. he has bigger things to worry about. com

sector is the worst performer, maybe no shot there, given the volatility weft seen s that, games like valero, halliburton some of the biggest laggards those declines come as oil prices pull back with west texas intermediate slipping further from that $100 per barrel market also that higher than expected increase in u.s. gas line inventories earlier on this week for the supply side of things. we'll watch if that imbalance kind of playing out over the next few days ago well sara, i'll send things back over to you after the break, we're talk to the ceo of union pacific don't go anywhere. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your scree

the refineries are -- the valeros of the world are making incredible profits that's because there are very few of them and can kind of go with the world price i understand why government would be upset >> nat gas yesterday, second worst day in history have to go back to '07 to see another 16%-plus drop, but our benefit is the europeans' problem. >> they needed that. this is the liquid trains, liquefied natural gas. >> two main exporters of lng freeport and shaneer freeport is a private company but enormous complex down there in texas >> don't forget semper is very good >> but it represents a lot of our export -- percent of our exported natural gas under carl's point yesterday i was like, wait a second, why is it going down but it drives the price down here but it's another problem for europe to a certain extent because this all gets exported they're having the delays far more than they thought it was three weeks originally. now they're talking months >> everybody's running everything 102%. we know from history when you run them like that things go wrong. and i think that that's just w

in terms of individual names, look at occidental petroleum, also marathon oil, valero, each up almost 90% as well. even in a down market, there are still some areas showing some upside momentum. this is one of those situation that seems to be kind of uneed to what's been happening this year, given the inflationary narrative. >> yeah, i mean, dom, essentially anything you would define as momentum in this market is energy there's almost no other names that qualify on the other hand. pretty much all the charts you showed had a slight curl down. today energy is easing back a bit. it's one of those situations, you know, where we're wondering, you have to defer to the trend, but switch backs when things get this stretched should not be unexpected to. >> to your point, it maybe coincide also in the last few weeks or so, maybe a month or so with the increased chatter, right? that sentiment around that world recession. it certainty wasn't a base case talked about 6, 9, 12 months ago. a lot of folks are bringing in this possibility of, or it's not our base case, but could be a possibility discu

valero, the big refiner, riding those very wide refining spreads and dollar general, very sensitive to gasoline prices, gas accelerates, dollar general goes down. you see this spike to a high and another plunge there not closing the gap in any near way, and nothing saying this is going to continue. it seems like it's a little short term there are pockets of the market using it to feed off of for at least a little bit of short-term relief credit marks remain on watch you see spreads in junk bonds widen out to some degree this is the way to stru view it. yields have stopped going up, alt although yesterday they did pop a little bit it's had a couple little spills here relative to treasuries. all asset markets seem to be clenching up ahead of what could be something worse than just a slow down. >> we've been talking to liesman about out world has changed. >> there's no doubt that that is true gdp now is above 0 for the second quarter it's now minus 2%. you see 20% drop in oil. you've seen the market take out some anticipated feder rate hik, we're willing to take a recession on if we have

i want to be extremely clear on this look at valero, one of the companies that had a letter sent to them. their quarterly earnings were far larger in 2015, 2019, and 2014 than they were last quarter. chevron had a quarter in 2000, what was it, 2011, it made 10.9 billion or whatever, made 7.9 billion last quarter nobody's saying the oil and gas companies aren't making any money, they are, and they're making a lot more than they used to, becky. but as far as quarterly income and earning, it's just not true. refining margins for some of these companies may be at records, but as far as record earnings and operating income, the best years for the oil and gas industry was joe biden's third year as vice president in 2011 as you, i just showed you the numbers. they raked in money >> brian, the other thing, the idea of being able to immediately refine more. this is not an instant fix it's going to take some time, some spending. and some incentives to the spending to get more refining capacity back in this country. the letter itself, i read it, too. the letter from the president points out that th

for days and days, oil at $91, exxon, chevron, valero, ma marathon, they're hitting the 52-week high list. one sector is worrying me a lot, industrials and to a lesser extent materials these stocks have been sloping downward for a while now this is the sector that is having their earnings estimates reduced dramatically this month because of concerns about higher costs, higher materials, and higher wages as well some of these, tyler, are seeing earnings estimates reduced about 10% in the last month on those cost concerns right now. so that really is an issue every day these stocks are to the downside >> bob pisani. now to the bond market we go, the ten-year, its yield holding on to that level above 1.9%, 1.92% or thereabouts rick santelli in chicago hi, rick >> hi, tyler yeah, a two-day chart is very important here shows us several things. shows us the huge jump we had on a much better-than-expected jobs report were their caveats sure but the fact is that reckless endangerments have held up they held that pop as a matter of fact, tyler's pointing to 190. we settle at 1.91. you have 7s

industry basically just dropped russian oil like a bad habit for example, i confirmed last week have valero that they're not buying russian crude and haven't been we've seen one cargo that shell said it bought, became public relations disaster for shell the reality is, it's already done we're not buying russian oil. >> tonight a top kremlin official stoking fear on state television, warning the west the prices could triple, but u.s. lawmakers in rare agreement on the issue are unbowed. democrat joe manchin from energy-rich west virginia pushed the administration for deregulation but said supporting ukraine is worth it. >> i believe the american people would basically pay if they had to, seeing that they're saving freedom and saving lives of innocent people. >> a deal including such a ban on capitol hill is expected in the next day the white house says discussions to tap into more oil from saudi arabia, venezuela and even iran are still under way. shep >> kayla tausche live for us tonight. >>> 1.7 million people have left ukraine since the fighting started. that's updated this evening from t

they have lagged, so a company like valero is still interesting to us in an energy sector that probably has moved too far too fast year to date but has a lot of legs in front of it >> mike, in terms of the move in oil prices, clearly there was geopolitical premium built in. the question from here is how much those stocks give up ground if it does dissipate further from here. >> exactly i mean, they're up still tremendously, they were up month to date even though they're down 4% this week obviously coming from a position of strength. the thing to watch and you started to hear indications of maybe we're getting toward prices in the commodity where supplier discipline finally does buckle a little bit. incrementally. that's complicated by a bunch of different factors as to whether, you know, companies can really get that much more aggressive by turning on supply in these current supply chain conditions and everything, but i do think that right now, energy, the s&p energy sector has moved in lockstep with the commodities. it hasn't been an overshoot in one direction or the other >> oblox, on

so take a look at valero doubled since october of 2020. i'm showing the april 1st, '00 calls. stocks 90, and they're buying the 100 calls in big numbers today. i bought the 90 strike my intention is to sell higher strikes against it as it rallies. second one, equitrans midstream etrn they're buying the march 7th calls next friday, expiration. to $7.50 stock 3.5, $4 billion. i like this one. i think any single digit energy names can see big moves. it's not quite the same since just transmission, but nonetheless, i like this one, too. i'm in both of these trades. >> for that, final trades after this break ♪♪ ♪♪ ♪♪ (vo) this is a place for ambition. a forge of progress. a unicorn in training. a corner to build a legacy. a vision for tomorrow. a fresh start. a blank canvas. a second act. a renewed company culture. a temple for ideas. and a place to make your mark. loopnet. the most popular place to find a space. at ameriprise financial, our advice is personalized. based on your goals, whatever they may be. all that planning has paid off. looks like you can make this wo

apa doing well hess, valero, halliburton. consistently on the new high lust every day same time interesting stocks on did new low list today we had a big trust name, bank of new york, earnings report is a new low. trust names also at new lows why the banks. we had big tech names. lam research, skyworks solution, apple supplier hitting 52-week low. back to you. >> thank you the 10-year yield to the highest level since late 2018. rick santelli is tracking the action >> exactly correct chart starts in late 2018. december to be exact see the 10-year yields on the march since all-time closing yields in august of 2020 at 50 basis points 30-year bonds are close to 3%. march 19th of 2019 is the last time at that level most likely crossinging that threshold quickly. you see a one-month chart there. and the right curves are flattening look at the 3-month versus 2-year the fed is dragging their feet on everything from the verbal side now t-bills had a chance to play catch up and they are. flattening which is very normal at this point in

there is no way in terms of the ti timing >> you are looking at least 30 days i did reach out to valero and pbf to see if they would be accepting these shipments. they did not respond to our request for comment. it is important to know, none of the vessels are russian flagged. russia actually owns or operates these vessels. you are looking at liberia or denmark or norway. those countries own the vessels carrying the russian oil >> it will be fascinating to see if the ships are actually welcomed in or turned away what happens to the oil? we are talking hundreds of millions of dollars in russian oil on the way to the u.s. lori ann, thank you. >> thanks, brian >>> folks, we will follow this story and ships as they eshe stm toward the u.s >>> on deck, the morning rbi and why all you red sox fans are probably singing the blues lately, but it has nothing to do with baseball. we'll explain next >>> time for the morning rbi the random but interesting thing is squarely what we have been reporting on for some time sky rocketing oil costs. it about to get worse. check out coal prices are starting

valero, vll. look at these refiners, unbelievable >> thanks for watching "fast money.anywhere "mad money" 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 cramerica i'm trying to save you money my job is not just to entertain but to educate and teach you call me at 1-800-737-cnbc. or tweet me. stop giving up on companies you believe in you'll be wrong more often than

also wanted to point out shares of valero, moving higher as they beat top and bottom line estimates with revenue growing 85% year-over-year, citi thinks the stock is now heading to a new all time high. the firm raised its full target to $138 per share. >> pippa with some serious books behind her there pippa, we thank you very much for that >>> all right, i haven't read a book that thick since college, i'm telling you. the price of bitcoin back below 40,000, even as fidelity says retirement savers can put cryptocurrency in their 401(k)'s kate crypto rooney is at an event in the bahamas hosted by ftx, and she spoke to ftx's ceo. crypto kate, take it away. >> reporter: hey there, tyler. great to see you i did indeed speak to the ceo and cofounder of ftx, we sat down about ten minutes ago he said he supports fidelity's move he sees it as a good thing for the industry, and he says it expands access take a listen. >> i think it's going to start off small like all of these things, not expecting billions of dollars flowing in on day one or anything, but what it does is opens up another option fo

much attention because they're refinery stocks are really outperforming especially tuesday, names like valero and mid kaps, pbf and delek. they rose. nair thon and petroleum rpc, which is the company we talked about the other day, also doing well no doubt you've heard a lot about energy this year, but it's not just about those actually there are a good number of those all-time highs include j&j and coca-cola, both helping to keep the dow from sinking more. take a look at cerner and wec energy, wisconsin electric bear markets have been, shall we sea, pretty awful. look at the march returns. roz storrs, up 14% kimberly-clark, everybody needs toilet pape e up 13% lam western holdings it's not smith and wes son they're a potato proadviser. you want stalk with that a lot of people do you've got sailpoint holdings, a digital i.d. company auto association ollie's bargain outlet, shares there are up 14% in fact, speaking of ollie's, many discount stores like an all loi's including target, dollar tree, dollar general, they're seeing a lot of buyersle could that be on fear of a slowdown? maybe. the mac