– This is the script of CNBC's news report for China's CCTV on December 3, Wednesday.
Welcome to the CNBC Business Daily.
Energy stocks led the way overnight over in the US, as oil prices declined.
[WALL - show US auto sales]
Auto stocks also advanced, as US November auto sales saw their best pace in over a decade.
That's helping to offset weaker china sales - Nissan and Honda yesterday both reporting sales declined on the mainland, for the fifth month in a row.
Exxon and Chevron were among the largest gainers overnight..
[WALL - show 7 day]
This despite oil prices declining again..(ad lib)
But in early Asia trade, we saw a big rebound in Nymex crude after Platts said API crude inventories were down 6.5 million barrels last week.
That's much more than expected.
[WALL - oil 6 months]
The 40% plunge in oil prices over the last 6 months is making itself felt in the industry.
The world's top oilfield services provider Schlumberger will be reducing its marine seismic fleet to lower costs, anticipating customers will lower their exploration outlays.
There are winners and losers in every situation.. and the same goes for the oil slump.
Jackie DeAngelis looks at the companies set to prosper as crude slides.
[PKG] Oil prices dipping nearly 3% today closing at $66.80 a barrel. Not a great news for oil producers out there but if you're company uses oil as raw materials and needs to ship goods and relies on cheap gas to get your customers in the door, you are going to make out here. Think about the airlines, shippers.. the Deltas, the American Airlines, Jet Blues of the world... FedEx and UPS - They've also got to see a lift from these oil prices. The autos? GM and Chrysler, saying they're seeing sales of SUVs pick up and hitting overall sales records last month. Less obvious? Goodyear, the tyer maker. More people upgrading their tyres when they anticipate they're going to be driving more. Retailers like Target, Walmart, TJ Maxx, also to name a few - these companies may see more brick and mortar sales this month as consumers are relishing lower gas prices. The national average now $2.76 a gallon. Maybe why Cyber Monday wasn't so great. Could be some food for thought here. Now some people out there saying, think of it this way - that low oil prices are for US what cheap labor was for BRICS when they exploded. Reporting from the NYMEX. I am Jackie DeAngelis.
I'm Chen Qian, reporting from CNBC's Asian headquarters.