A senate panel has just authorized a limited u.s. military strike in syria.
The full senate will consider the resolution next week.
President obama spoke this morning in stockholm in an attempt to lobby support from the international community.
I think america also recognizes that if the international community fails to maintain certain norms, standards, laws governing how the country's interact and how people are treated, then over time this world becomes less safe.
And yet, oil is falling.
It has actually fallen for the third time in four days.
Many have said this is an indication of what is to come in the geopolitical sphere.
If so, we do not have that much to worry about.
We want to bring in our panel.
Julie hyman, walk us through what is going on with oil related to the news in syria.
More recently, we should mention that the declines that we have seen in oil are evidence that a strike could be further pushed out.
In addition, there is also commentary coming from vladimir putin.
Russia does not support the idea of military strikes in syria.
Let's put this into perspective.
It is not about an interruption of oil coming from syria itself.
It only produces about 20,000 the the barrels of oil per day.
You're getting about 3 million from iraq per day, and about 10 million per day from saudi arabia.
If there is any spillover in the region, that is when you will get a significant interruption of oil at a time when supplies coming from the region are already relatively tight.
Syria is not a player here, 20,000 bar.
That is insignificant.
What is the spillover effect?
That the situation in syria could negatively impact iraq.
And we have seen violence levels climb the highest in five years.
And we have seen repeated attacks on the pipeline, essentially making it inoperable.
If we get an attack on a southern iraqi facility, that could affect markets.
What does it mean for investors?
How should they think about oil?
Is there an opportunity?
Will there be more problems in coming days?
If we look at the middle east in general, look at the libyan disruption.
That is what is of concern for people on the market.
They have a capacity for 1.6 million bar.. if we do not think libyan production will come on, soon, that will be a problem for the market.
The market will be tight.
What does that -- where does that leave you, alan knuckman?
There is always the potential for a board movement and a price shock.
Looking at the energy ets, there is been a strong momentum trend in the back hist -- in the past few years.
There was solid trading between 80-84 in july -- since july.
It is going to cost about $9.75 here.
Over six months of time for good things to develop.
At that e.t.f. moves higher, that option will have a high payoff.
It will benefit if and when that sector continues to move.
Technically speaking, it suggests a move above 100, not anytime soon, but eventually.
Are we less reliant right now on the middle east?
If that one reason we have not seen a big reaction in oil?
We are absolutely less reliant.
We're close to 3 million bar.
The last time we were in that situation was 2011. the reason we are not at 20 brand is we have additional barrels, reducing the opec crude.
If we have significant outages mount up, that is where capacity margin is going to erode.
Thank you all.
Coming up, and a hair cut that will set you back $1,200. i'm not kidding.
Sam robards actually got one.
He will tell us whether or not it was worth it.
Plus, what is stalling production, despite what we have been hearing about strong car sales.
? as u.s. auto sales hit record levels, a new challenge is facing automakers, matching demand with production on the hottest selling models.
Matt miller is back from detroit.
I know you learned a lot.
It is almost like we have moved to a new phase as far as u.s. auto production is concerned.
August sales are expected to come in at the highest levels, is -- at least in terms of dollars spent.
Here you see the share prices on a tear.
Test but did not even read the report today, but showing gains against the competition.
That is because these companies all beat estimates with sales.
$36 billion was shelled out . but they have not been putting an incredibly high growth figures because they are sold out.
Other carmakers are facing this same problem, including subaru, hyundai, nissan.
They are offering fewer incentives, down 3% from last year and getting more money for their vehicles.
The average transaction price is now $31,000. that is expensive.
That is a lot for the average, and it is the highest we've ever seen it.
U.s. workers are getting more jobs, more shifts.
Ford is adding 1400 workers to build more of its fusion in michigan.
As you know, we probably have the best growth that we have had and we are increasing production on all of them to meet the demand.
While our people spending so much on cars?
Gregg's one reason, they ought to.
-- one reason , they have to.
The average age of the car is about 11 years.
There are still old cars out there.
You ought to buy a new one.
The design of the new cars is fantastic, both the chevy impala and forde fusion.
They are much more fuel efficient.
Even if gasoline were not expensive, you would still want that.
And there's a huge bomb in leasing.
Of the cars sold in august, 25% released.
. were leased.
And it is about $50 per month cheaper on the payment.
China is now the largest car market.
Are we exporting cars to china?
Is that part of the problem of supply?
We are exporting a ton of them and the growth figures are amazing.
Something like 72% each month year-over-year.
The cars that we export for that market are not made in flat rock.
They are made in other places bit of they are made in china.
Exactly, and they cannot make enough cars for the chinese to buy.
But a lot of cities are starting to limit how many cars can legally be sold.
Oudin we only have about 30 seconds, but i have to ask you about the maserati suv before we go.
I saw this unveiled last year.
It is called aid kubang.
What a sweet name.
They will invest $1 billion to retool a fiat plant and start to build these things with about 5000 employees.
That is a big boom for the italian economy.
They have been making such a gorgeous cars lately.
I'm not sure if it is as practical as the escalate.
-- the escalade.
Is there a third row?
That is what i need to know.
Know, there is not.
Sam is used to is spending about $17 for aircraft.
He took a walk on the wild side.
Imagine what a $1,200 haircut would be like.
He wanted to know.
The went to sam gives in.
I need a hair cut, and normally i would go visit -- go visit my barber, josef.
I'm going to ted gibson, a celebrity hairstylist.
He has done here for angeline and joe lee, cure nightly, ann e. hathaway, and he charges $1,200 for a hair cut.
How do you do?
Tell me a little bit about your hair.
I have not let my hair cut in a long time and i wanted to see what you could do with it.
Hair, i've always said, changes everything.
After i cut it, i want to make sure that every day for you is a good hair day.
So that you can accomplish anything you want to in your life.
My biggest concern is less to do with my hair, but more with how it interacts with the shape of my head.
I feel like i get -- like i'm ted kennedy.
The -- i will massage the back of your shoulders and your neck and your head.
And then i will shampoo you and we will have a little more dialogue about who you are and what you want to do.
It is not just a hair cut.
When i decided i wanted to raise michael price to $1,200, i decide -- my price to $1,200, i do my own shampoos.
Look -- grows love to be able to say it, i get my hair cut by ted gibson.
And tuesday, and he does and julia joele.
Joseph has never actually massage my hand.
I'm waiting for the big payoff.
That looks great.
I feel a little -- ridiculously pampered.
I feel almost boozy.
Do you think he loved that different?
Was it worth it?
I think he looks like he got a haircut.
I'm not sure it is a $1,200 haircut.
I pay about $100, and that is with tax and that is new york city.
I remember when president clinton famously stopped air traffic at jfk to get a hair cut.
It was very expensive.
To wonder dollars at the time and he took a lot of flak for that.
A local barber went on the radio and it came as the house, what does a $200 hair cut look like?
And he said, it is very simple.
It is just like my $17.10, but more expensive.
Up next, no more $1,200 haircuts.
We are talking charts.
? we have a pair of charts today that will make you smarter.
A lot of people are worried about how the higher rates will impact housing -- will impact rates, specifically housing.
You say the housing market can handle rising rates.
We have to look at the median house price and how it has recovered since june of 2007. i think that is remarkable.
I need to see that with my own eyes.
We are back to within 93% of the prices pre-crisis.
That increase on the right side of the graph shows qe3, during which time the fed was buying $40 billion, and still is, $40 billion in mortgages in addition to $40 billion in treasuries.
The house is the biggest asset on most families balance sheets.
And that has worked.
It has been a success.
The fear now is that the tapering on our rights and could put pressure on housing.
Certainly, we are feeling that a little bit in mortgage applications.
You could see the increase in prices flatten out.
It could hurt the economy a little bit.
At higher rates usually do.
What i'm saying is, relax, we will transition into a more sustainable growth rate.
We ought to get the fat out of the bond market.
We cannot leave qe.
It will scare away buyers.
The rising rates on a 10-year treasury, which can handle that.
I can tell you are excited about this.
I want to look at the 10-year.
Should i interpret this as rates are still very low?
Rates are still very low.
Go back to 2007, that is how long ago the 10-year war that 5%. the average 10-year for the last 50 years is about 6%. it is still a bargain rate.
There may be a pickup, but we will keep on going.
We are back with the close after this.
We have the top 10 stocks you need to know.
? if you missed everything that happened during today's session, we will get you caught on the only stocks that you need to know about.
10, narrowly beating analysts' estimates at dollar general.
Siena is jumping the most in three months.
It is posting profit in failed that beat analysts' estimates.
It is increasing its market share and expanding into new areas.
Is pepsico trading flat?
Currency fluctuations will cut revenue growth by about two percentage points this year, more than previously forecast.
#7, navistar, the company it posting a third quarter loss.
It has begun job cuts.
H&r block is down 1% as the tax berger reports wider first quarter losses, higher operating expenses.
Next year's tax season is expected to be smoother than his years.
That is for sure, because this year was a mass given all of the uncertainty in washington.
Never five, j.c. penney is up.
And tile baths's hedge fund announcing it owns 11.4 million shares of the company.
Correct wouldn't it be interesting if bill ackman got out at the very bottom?
It kind of feels that way.
It feels like j.c. penney for the first time have an opportunity.
Maybe it was not ron johnson that was the problem.
Maybe it was the guy who brought the man.
He brought the man and he just would not let go.
Should we all start shopping at j.c. penney now?
4, linkedin plans to sell class a shares to strengthen its balance sheet.
There i am on linkedin.
You can link with me on linkedin a very flattering picture.
This text has been automatically generated. It may not be 100% accurate.