have a good weekend dom in the newsroom.you are worried things get worse before they get better how do you protect yourself in professor khouw over at the plasma with the call to action. >> so we look at using a put spread why might we do this? the first and obvious thing the market is whipping around. if you think okay maybe this is the tupt to short stocks i would be cautious doing that because when you short stocks you take an unlimited risk to the upside. buying puts of course is a nice way to limit the risk. but as dom just pointed out we see the vix as o at levels we haven't seen in a while. options premiums are elevated. nice thing about a put spread it's a way to reduce the costs of the trade we can just take a quick look over here at where we have come from now one of the points i would quickly make we are going all the way back now to the 2016 election that's -- we have another election coming up that's kind of what we are looking at if you are long a basket stocks that represent mri indicates the s&p you're not do

frances rivera live in new york. >> hi dom good morning to you.light has crashed after leaving jakarta. some debris from the planes been found but no word on casualties or any survivors. >>> the suspect in sat's massacre is expected to be in court today. robert bowers faces 29 federal counts relating to 11 worshippers being killed prosecutors are seeking permission from the justice department to pursue the death penalty. >>> today a florida man is set to appear in court for the first time cesar sayoc faces as many as 50 years in prison if convicted of all of the charges related to sending poms to former political figure those are your headlines this morning. back to you. >> frances rivera at nbc news. thank you so much for that. >>> up next on this show storm clouds, are they on the horizon? why last week's run up could be there to explain. >>> the winner is boonst highlights from the big game when "worldwide exchange" returns. >>> the bulls versus the bears it's a new week and the battle is officially back on. your wall street playbook is coming

hey, dom >> well, the worst october in a decade, melissa.t's what it's shaping up tort for the s&p 500, the dow, the nasdaq as things currently stand. each of those benchmarks have the worst percentage drop since 2008 yup, worst october since the financial crisis meanwhile, the tech heavier nasdaq composite having the worst year, period, since 2008 this ter in terms of percentage declines. materials, consumer discretionary, energy and industrials, while more defensive sectors are relative outperformers. the down side momentum hot spots are still in play with industries like banking, also home construction, and of course semiconductors still on sharp downward trends. this month's losses also mean that both the dow and the s&p 500 are back to around flat for the full year. volatility is also back in a pretty big way the segul volatility or vix is elevated over the levels in the last 50 days the vix was at the highest level since back in february tied with the fears of the fed and rising interest rates it's pretty safe to say the traders and in

the alsatian corporation of mechanical engineering the company adopted the name dom in nine hundred twenty eight when it merged with the company francaise thomas who ever since then has played a major part in many major fringe projects it designed the propulsion system for the normandy then the world's fastest liner and connected france to spain by building a train tunnel under the pyrenees and then built the turbo generators for the biggest power station in the world of germany but for the people of belfort else dome is so much more. a ticket passed. from the four walls or the vault usually to good preach earlier. this year than the speed of rope two does indeed this will. be privy to the universe we have well the police will do view. it if you do that you know and these are two hundred and. in about a little while is this the pharmacist. in june one thousand forty four france had been freed but almost destroyed by four years of war contributes to the political project of rebuilding and modernizing the country to put it teach us explain me don't do. that when she see. you point and when y

dom, that's what matters most. >> speed is key. mena, thank you so much. >>> still ahead on the show. pressure mounts on saudi arabia following the disappearance of a saudi journalist. >>> plus, a sign of the times for retail as sears files for bankruptcy protection. we're diggg inin to what's next for this iconic company. stick with us. we'll be back after this break ♪ a moment of joy. a source of inspiration. an act of kindness. an old friend. a new beginning. some welcome relief... or a cause for celebration. ♪ what's inside? ♪ [laughter] possibilities. what we deliver by delivering. >>> market alert wall street pointing to a lower open as volatility spills into a new trading week >>> breaking news in the retail world. sears officially filing for bankruptcy protection. the end of an era. full details ahead. >>> international pressure mounting on saudi arabia following the disappearance of a saudi journalist we have the latest on this story. it is monday, october 15th, 2018 you are watching "worldwide exchange" on cnbc. >>> and w

dom?ound right now because as you can see for the s&p 500 the 200-day moving average, that longer-term trend line is around 2768. we're well below that right now. however, this is a battleground area that's going to shape up to be something that either bounces like it has here in the past over the course of the past few years or do we see a deeper push into negative territory below that back here remember, that was back in the early part of 2016 when the diamond bottom actually happened on february 11th that's something to watch here the nasdaq also that same kind of battleground developing as well we are a little bit deeper on the nasdaq composite as you can see here. but that same trend is developing we didn't see that big push below it until that part back in 2016 in the early part but this trend line has stayed largely intact one of the places that's been the real, real sore spot for investors and traders has been the small cap side of things for the russell 2000 over the course of the

a look at how tariffs and trade policy are impacting third quarter reports so far dom?an, the forward look is what so many analysts and investors are keying on this earnings season. what will companies say about the impact of tariffs on their future performance on the financials it is a little too early to tell just yet this earnings season. you can see about 70 companies reported so far through the early part of the morning. among the names, 21 have explicitly used the word tariff or tariffs in the earnings conference calls or statements gives you an idea how much it is weighing on some companies we picked out a handful of comments to give you an idea of what the ceos and other executives are saying about the impact and how they will deal with the tariff issue. one is auto zone the ceo william rhodes saying in the short term we expect to be able to manage our way through any changes and continue to expect to ultimately pass these costs along to the entire industry, would be affected similarly. another one to watch, a bigger example of a retailer, costco. the cfo saying

"power lunch" starts right now >>> welcome to "power lunch," i'm dom chu.tocks in the red once again after yesterday's massive 800 point plus drop in the dow if we close lower, it would be the fifth time in six sessions the s&p would be down for a sixth straight day right now as you can see here the dow industrial is up by 165 points and the s&p down by about 20 tech has seen a bit of a comeback, the sector etf that tracks it on base for its best day since late september you have amd, adobe and micron among the leaders. energy is the worst performing sector as oil falls more than 2% pioneer natural resources and marathon are lagging in today's trade, and a down day for the financials as well that index is on pace to close lower into correction levels for more on today's moves let's bring in bob pisani, also rick santelli at the cme group in chicago. bob, we'll start with you. >> not clear how this is going to end, but it's very different than yesterday there have been attempts to buy the market several times today let's just take a look at the sector that's

how did the no more to born himself come to talk about alliance in twenty fourteen handover else dom's purchase today. is the loge this silly. trick to me on. all said i mean the former minister had forgotten that the person in charge of that agreement was himself. a bar fair. who you should bomb dong was going up to new york both to see him did i see. that he says i want to ask you about it this is i mean. you. are no more to bargain sister however that the agreement reached did provide real leeway. books reporting the only live year is i. will continue me. define with who leave the early to walk maybe even potty on every measure need i need with yes you poor buffet my proposal. as it is you are no money bug succeeded in obtaining two prerogatives the partial nationalisation of alstom would first of all from twenty eighteen onward allow the state to block the total sale of energy related activities then concerning nuclear activities the state maintained its sovereignty through a right of veto but france has never used either of these two shields today dom's website no longer mentions

dom, walk me through yesterday, why the sharp drop?a lot of concerns, the faemajor o, the fear of a global slowdown. that's one. >> which christine la guard of the imf warned us about a week ago. >> right. the second one out there is this notion that rising interest rates could be one of those big tipping points for the market as the fed starts to perhaps tap the brakes on things. the third one overall is the earnings season kicking off. there is our read every quarter about the health of corporate profits, whether companies are doing as well, and forecast to do as well in the future. the earnings season so far is still reasonably good, meaning corporations are still making money, still employing people, things are still going relatively well. it's the rising interest rates and the slowdown in the global economy that's getting people more worried, especially in light of president trump's now remarks that perhaps, you know, the fed is, again, being too aggressive with raising interest rates. all of those are in play right now. that's wh

the moment they set foot on american soil so much so that else dom's director of legal affairs urges company managers not to travel to the united states strangely patrick cronin remains welcome tonight to news is false and use a simple ordeal will look like tomorrow in france however patrick runs astonishing ability to enter and leave the united states on hindered is raising eyebrows he's questioned by m.p. jack ma at the french national assembly. hall. yeah. because most fifty year. sure saturn on the earth just cements be. a tank it surely sure sure sure sure sure. sure yes says. question thank you to the more those. who do something or that effect works as well as i can see it. but no proof i'm going for it by committee. surely can't ship. and on the other commodity today patrick runs a vase of makes more sense to. it at emmel is so that it on the over be accurate. he left you no money goes the place you're safe. this out of the economy social issue up and at this hour doc won't see postulate a total manali medicare being there merica the last element of that if i ask you do you s

you heard dom's piece.ctural changes of the market are in one thing a reason to find the tech stocks have not done well? >> it's interesting. domestically the u.s. tech stocks are strong. tech stocks in china we're seeing the bifurcation right now i'm not overly concerned about the u.s. tech sector we're only 2% off. global assets are being attracted despite the fact we are seeing surging yields in the ten-year note. >> when i talk about bonds, exactly, that yield, i like to talk to chicago people, no offense to new york people, because you guys are kind of the bond capital the folks i talk to in chicago say, brian, rates are rising less because of our fed and inflation and more probably because the chinese are selling them to either punish us and/or raise capital. what do you think? >> well, that is the rumor that is not a verified rumor but i spent a decade selling ten year notes in the pits one take away is to understand them we saw 20 basis point. >> that's going to take the breath away. i think there's

dom chu looking at the markets dow up 280 julia boorstin is here and phil lebeau from dallas, followingla and ford earnings meg terrell. >> carl, twitter shares are soaring 17% on top and bottom line, despite user growth falling short of expectations. the earnings of 21 cents a share are 7 cents better than wall street projections revenue of $758 million for advertising. looking at monthly active users, numbers fell more than expected, declining more than 9 million in the course of the quarter to 326 million. 4 million short of expectations. the company expects another mid single digits million decline in the fourth quarter, daily active users grew 9%. jack dorsey says both daily and monthly user numbers were impacted, but the company's focus on cleaning up spam and fake accounts, saying improving the health of the platform is their top priority, saying it is key for the long term growth of twitter. guys, back over to you. >> julia, thank you. let's get to phil lebeau, he is looking at tesla and ford earnings phil, both those stocks moving higher >> they're moving higher start with tesl

dom chu is here to break it down. >> the worst october in history.h of those three benchmarks have the worst percentage drop since 2008 yep, worst october since the financial crisis meanwhile, the tech heavier nasdaq composite having the worst month period since november of 2008 at least in terms of percentage declines now the market turmoil has been pretty broad based with losses heaviest in the materials, consumer discretionary, energy and industrials and more defensive sectors like utilities and consumer staples are outperformers. the downside moment hot spots are still in play like with banking, home construction and of course semiconductors still on sharp downward trends this month's losses also mean that both the dow and the s&p 500 are back to around flat for the full year. volatility is also back at a pretty big way the vix is elevated at levels well above the average over the last 50 days the vix was also at the highest level since february, tied to fears of the fed and rising interest rates the traders and investors throughout are very in t

and you can -- over the last week it's held in there, dom showed the mart. jamie dimon as good as it gets it had record profits last quarter. and look at earnings and revenue growth is strong this is the greatest i own the stock. i think it's in heaven. >> are you worried about mortgage origin nations coming down one month, three month spreads >> there are other aspects of the business doing so well that can balance out. credit cards being one. >> are you worried it's one of the best performing bank stocks in the market downturn that's the first where investors take profits. >> i don't know that they would. take profits other places and if they did it's great opportunity to buy sfl next stock. wells fargo. deanne. >> well, inferno i have a god reason. i think one of the best pair trades in the in market could be long jp morgan and short wells fargo. this one has regulately scrutiny a lot no shortage of scanned als. but when you think about the consumer lending and things going on, the cyclically could be going on in the economy they are very exposed. loan gr

good morning, dom. >> good morning.ing right around the 50-day average price for the overall s&p. some investors are taking a harder look at whether or not higher dividend paying stocks are as attractive, relatively speaking, given the ability to invest in no risk, long-term government bonds at the highest yields in seven years. dividend sectors like real estate, the traditional focal points of that rate discussion a host of exchange traded funds tied to dividend exposure have gained popularity. vanguard high dividend etf, vyn, 30 billion in assets, current yield of around 3%, higher than the market it's been an underperformer versus the s&p so far this year, up 2%. s&p is up 7% to 8% the ticker nobl, $4 billion fund that has a yield around 2.5%, also better than market. it's up around 3%. also an under performer and spider, sdy. in a rising rate regime, big question for investors will be whether or not they find that mix of dividend yield and possible growth in these types of stocks is relatively more or less attractiv

facebook reversing the narrat e narrative, up following earnings our bob pisani following the rally, domhu with a look at valuations and what's been lost this month bertha coombs will give us an update from the nasdaq and julia tracking facebook. phil lebeau with gm shares sharply higher as well but we'll begin with bob pisani. >> it's been a lousy october but it's going out with a roar i want to show you the s&p 500, what's been happening the last few days we bottomed on monday and moved 118, 120 points since then the dow has moved 1,100 points since the bottom on monday the s&p is up 2.5% watch the beat and up groups when you see them bounce, that's when you start to see some stability, and we're getting it. since monday's close look at semi conductors up 6%. industrials up 4%. energy stocks up 4%. builders up 6% those are the beaten up sectors, outperforming good sign. metals and mining not really outperforming, that's the one underperformer faang stocks are up 2%, 3% so far this week. how about the month of november? are we going to get a better start to november? i think we'll see i

dom chu is here and has been reading the signals from the bond market.ell us about those signals coming to you. >> i need a receiver for space travel and everything else if you look at what's happening with the interest rate market, it's been the biggest driver of what's happening you mentioned the multi-year highs for the ten-year and 30-year long bond. if you look at some of the reasons why some traders are feeling as though we're due for a pause, it's because on the extreme left-hand side of the screen is the last time we saw a rise like this in long-term rates, that was the beginning of february so if things play out again like they did, we should see a leveling out of that field one thing to look at as well as the 30-year treasury note, the long bond, it's reaching some levels that some traders or statisticians would call very rare they're trading two standard deviations it says this doesn't happen often. the speed and velocity of the move to the upside without a pause at least so that 30-year long bond is something to watch if you look at the ways

d dom. >> so far only two specks of green. i want to show you some of the other parts of the market industrywise that could be seeing real pain right now one of them is in technology that's the semi conductor space. the vanec is down huge right now trying to find some kind of bid here we're not seeing that so far also check out what's happening with transportation stocks, also flirting with and now below their long-term trend line as you can see there, off by 2.75 of 1% certainly some bearish comments from a luxury retailer out of europe is helping to take a lot of these retail names down but because we want to be a little bit more balanced about what we see here with regard to the market moves, we want to call your attention right now to a slate of companies that have shown a bid in this particular marketplace and that is the multi-line retailers within the s&p 500. we're talking about kohl's, nordstrom, target, dollar tree, they're up pretty decently on an otherwise very down day. so it sure seems like that there's a move aw

guys, back over to you. >> that's a good chart, dom, thank you.et's talk about all of this with our "closing bell" exchange renee norris joins us, caleb sels biand rick santelli is joining us from chicago and rick trust as well. keith, lowest valuation for the stock market as dom just showed us since 2016. does that mean it's cheap? >> buying opportunity. we got massively oversold at the beginning of october caught our first buy signal on october 4th and got one of our best buying signals on october 10th you can see it coming at the end of september, breadth and momentum really starting to deteriorate as we got into the beginning of the month a lot of people made the mistake, and they were kind of scratching their heads, wond yerg is th wonderring why is this market going down if there were fundamental issues inside the marks, mostly around tech and financials, they gave people pause when you talk about the exogenous events >> the bye-back blackout how much does that matter? >> it matters a lot when you have companies with massive billion dollar b

dom chu in the newsroom breaking down the earnings and winners and losers dom. >> melissa this season so far has been about the haves and have knots, tale of two cities best of times worst of times today's trading action continued the trend. the the companies reported so far this season, finding that around 3/4s of them so far posted a stock dropping meaning at least for now it appears there is a sell the news type feel to the market some of the negativity kerg through more than just today if you look at netflix shares down 3 e4% since the earnings report after the initial pop shares of bank of america have slid around 5% since the earnings report. and then there is big blue, ibm still struggling to convince investor that is the growth initiatives will set up for longer term growth though the shares were down around 10% since the report. for the accent the positive folks there are gainers on the heels of earnings as well. for example mcdonald's today closing up around 6% yes the et cetera it's only one day we see if the gains hold or paypal up 13% since its report it's also posted thr

, thanks dom chu in the numerous. for more on the future let us bring in bob nardelli, a former g.e. ceo former chrysler chairman and ceo. former home depot but he is a friend of the show that's what he is. bob welcome back. >> good to be back. >> do you think the bottom is in. >> do i think the bottom is in well, listen, i have a lot of respect for larry kulp, a man of action if you look at what he did at dan a her, a breath of fresh air. he is from outside he respects the past but won't live in the past i think larry is going to move at blink speed that's one of the questions and issues we talked on the show a while back about john. he had been there 30 years and the speed with which maybe the board felt he should be moving and wasn't. >> do you think that the path that john flannery laid out in -- and was approved by the way by the board including larry kulp at the time is the right path if kulp is operating at blink speed is it enough to move at that speed on the path already laid out by flannery and presented to

tammy bruce, dom giordano. thanks to you both.n the historical deal struck by the president and mexico to halt the care vein of illegals wanting to be illegal immigrants. we'll be right back. (beeping) experience the lexus rx with advanced safety, standard. lease the 2018 rx 350 for $439 a month for 36 months. experience amazing at your lexus dealer. (sfx:footsteps in wet cement) (sfx:birds singing, distant dog barking) hi hi ♪(whistling tune: "don't worry, be happy")♪ lou: in our online poll last night, we asked would you support president trump's order to seal the southern border. 98% of you say absolutely yes. and here is where we are today. what we are look ahead to tomorrow. president trump striking that historic deal with the mexican government, agreeing to halt the caravan of mostly honduran nationals. the mob crashing through the mexico southern gates today. saudi arabia admitting jamal khashoggi was killed during a fight within the saudi consulate. two officials fired including the deputy intelligence chief. president tru

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back over to you. >> dom, thank you. dom chu. >>> hurricane michael making landfall this hour the storm strengthening overnight to category 4. it could be the most powerful storm ever to hit the florida panhand panhandle. that's where jay gray is for us. panama city beach, florida, jay? >> the conditions really intensifying here at this point. the winds picked up dramatically, sheets of rain falling. i don't know if you see it, but we want to show you what the surf is doing here it has been growing throughout the morning. some of the waves, that's a big blast there, some waves breaking at 12 to 15 feet it just has been churning, real sign that this storm is moving in we have seen some debris blowing around we know we have a few more hours left of these conditions but, again, if there is anything good about michael, it is the fact this is a mast moving storm, much different than florence as you have been talking about, it is going to continue to be a problem across much of the southeast for the next several days this is g

and there's evidence that the word may have come from hamburg the bizarre you heard saw some books dom's or. even today certain details of the ship can be more clearly rendered if they're copied underwater by hand. but the main job is done by a special camera it takes hundreds of images that are then used to generate a three d. computer model of the shipwreck and while the wood has been perfectly preserved in the nutrient pool water of the baltic the current has a road at the rate down to its floor. david stop by as that's the great thing about it is you never see the wreck like there's on a dive because visibility is poor. so you can create a model like there's even if you have a visibility of just thirty centimeters you know you just have to take enough photos so they overlap then you're looking at something no one has ever seen in that shape or form. for example the frigates ballast stones that still lie along the ship floor without them the vessel couldn't have carried its cargo of heavy canons. one of the most spectacular exhibits in the collection of burnin snoozy and the design ma

tammy bruce, dom giordano. thanks to you both.l struck by the president and mexico to halt the care vein of illegals wanting to be illegal immigrants. we'll be right back. hey guys. today we're here to talk about trucks. i love trucks. what the heck is that?! whoa! what truck brand comes from the family of the most dependable, longest-lasting full-size pickups on the road? i think it's the chevy. ford. is it ford? nope, it's not ford. i think it's ram. is it ram? not ram. that's a chevy! it's chevy! that's right. from the family of the most dependable, longest-lasting full-size pickups on the road. gorgeous. chevy hit it out of the ballpark with these. who we are as people and making everybody feel welcome. ordering custom ink t-shirts has been a really smart decision for our business. - [narrator] custom ink has hundreds of products and free shipping. upload your logo or start your design today at customink.com. upload your logo or start your design today being told that you would never breath on your own,allow be able to walk on

and a lot of that has to do with dom passing away. changed completely after that had happened. lemonis: you're sort of inching your way back in, aren't you? yeah, you are. can i, just away from everybody, chat with you and your wife, if that's okay? you know, oftentimes people call me to get involved in their business for different reasons, to help them solve money issues, help them scale their business. i'm not sure which boxes i'm checking in this moment, but it's clear to me that debbie just checked one for me -- that there's some family issues here. debbie gave me the impression that you and doug don't really talk that much anymore. how did things erode with doug? debbie #1: he asked for burbank. lemonis: he said, "i want it, or i'm out of here"? dino: yeah. debbie #1: yeah. he was going to quit. lemonis: what led to all that? dino: well, basically, for us, it started when dom died. ♪ debbie #1: we buried him on thursday. we were back to work on friday. lemonis: how did your son die, if i may ask? debbie #1: an overdose of cocaine

start all of this with dom dom, what are you watching?t that we've seen pullbacks of this kind of nature in the past. just so far, just this year, we've seen a number of them, not to the degree we have. of course, we saw them in early part of february and march when we saw that big decline in the s&p 500. but for the most part, you can see with the trend line, we found bounce areas and we're waiting to see whether this area, this deep mover along the low-trend line really is an area that people can find a bounceable area. let's check outwhat else is moving in the markets because we have seen some of the internals. some of the, i guess, symptoms, if you will, perhaps, the environment that we're kind of in, that manifests itself in a broader base with the s&p 500. if you take a look at the s&p 500 stocks right now, 164 of them are above that long-term trend line. that 200-day moving average, something we've been talking about. meanwhile, the vast majority of them, 341 are low the long-trend term lines that's what we talk about the momentum

i was just checking in on some of the records, dom, which are significant. the nasdaq on pace, stays down over 3.9% for its worst day since brexit that. really puts things in perspective. let's look at the dow. there's the dow intraday chart for you, and we're down over 800 points down 790, but essentially we're right near the session lows, a really ugly chart there that i had. quickly look at all four indseeds, ain indices, did have all four down 3% moments ago, but the dow is just above that, still a significant decline. nasdaq down 4% but just shy of that level the russell down less than 3%. going to show the dax chart just quickly intraday selling in europe sparked a selloff of selling here as i bring in possible pisani and kenny polcari. >> germany more than 15% off of its 52-week highs. important to emphasize why this is happening we're moving from a low-growth, low-yield world to a higher grower and higher yield world. tech becomes out of favor and treasuries look more attractive and value stocks like consumer staples perhaps start getting morphed in.

check out the dow on this. >> that's since we went to dom chu. we'll see you later, dom go away.u. >> i think it was 280. >> nice job. thanks, dom. >> the company says it's maintaining the outlook range of $11 to $12 maybe at $11.65 the street got a little ahead of it, but there's nothing i see in this initial read on this report that would explain why you're seeing such a selloff. >> cramer's going to get his 25 on the vix, i would say. >> yes, he is. >> on the open let's talk currency and energy markets now too. joining us now dan mcteague at gas buddy.com. and shawn osborn at scotia bank. we may have seen a little bit f of, you know, a rush to safety with some of the yield curve but the dollar -- i saw a 1.14 print on the euro. what's happening with currency today? >> i think on a day like today where you've got a lot of red on equity screens globally, the knee jerk for currency trade is to go to the typical safe havens not so much the dollar these days as the japanese yen the traditional sort of safe haven in market volatility outperform on the day and the commodity currencie

morning, dom. >> good morning, suh we have those numbers out.cording to u.s. government data grew by 6.49 million barrels and get a build of 6.49 million barrels. analyst expectations were for a build of 900,000 also gasoline inventories, a drawdown of a little over two million barrels. they were forecast to be a rise of 600,000 in the wake of the numbers, oil prices are holding steady. they were down but currently down by just around the same amount, you can see there the oil prices off by just about 1.5% at this point back over to you. >> dom, thank you very much. we'll watch that closely. >>> shares of netflix are up, although off of the highs of the session. we'll break down what the streaming giants quarter signal for investors. >>> the president goes after the fed again. former federal reserve vice chairman stanley fischer will join us tomorrow 10:00 a.m. eastern time that's something you don't want to miss. dow do 2 ckn st moment. the meeting of the executive finance committee is now in session. and... adjourned. business loans for eligib

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i'm dom chu. with the major indices deep in the red here, we are off the worst levels of the day.s at its lows. right now there down about 235 the s&p off by about 21 and the nasdaq off by about 116. the real laggard communications services is the big sector laggard real estate is now trying to hang onto green territory. semiconductor stocks getting hit hard across that entire industry group. texas instruments, nvidia, intel. you can see some of the steepest declines and some retail stocks very much in negative territory. costco, under armour, restoration hardware, and dsw. for more on today's market movers, let's go to bob pisani at the new york stock exchange over to you. >> dom, we are well off our lows we're ten points off the lows on the s&p. that's almost regaining a third of the losses. but we're still deep the red here let's just stick with the basic theme. let's hit the big cap tech stocks here. just sticking with the dow here, look apple's the big leader of the year it's up 30% so far this year nop surprise, a little bit of momentum loss there. boeing is also up 30% on t

>> good morning, dom >> good morning, guy >> how are you doing, sir? it's interesting it's a great conversation you had. i'll talk about f.a.n.g. quick let me ask you a question, this is not me talking. president of the united states says this is the best economy in the history of our country his words, not mine, right if this is the best economy in the history of the country, the fed is doing what they should be doing. so for him, the president, to call the fed crazy twice yesterday on the tarmac or wherever he was sounds ridiculous to me this is a president when he was candidate trump talked about the fed being crazy because they weren't hiking rates it's one or the other. you can say we have a strong economy. costs are going higher because there's inflation. if there's inflation, the fed is doing what they should be doing. let's not confuse strength of the economy and costs of goods going higher there's a lot of contradictions going on i'm not suggesting anybody is right or wrong, but you have to look at it if the economy can't withhold or can't fen

tammy bruce, dom giordano. thanks to you both. on the historical deal struck by the president and mexico to halt the care vein of illegals wanting to be illegal immigrants. we'll be right back. (whispers) with the capital one venture card... you'll earn unlimited double miles on every purchase, every day... not just "airline purchases". think about all the double miles you could be earning... (loud) holy moley that's a lot of miles!!! shhhhh! ♪ what's in your wallet? shhhhh! i can do more to lower my a1c. because my body can still make its own insulin. i take trulicity once a week to activate my body to release its own insulin, like it's supposed to. trulicity is not insulin. it works 24/7. it comes in an easy-to-use pen. and i may even lose a little weight. trulicity is an injection to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. don't use it as the first medicine to treat diabetes, or if you have type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you or your family have medu

dom, back over to you. >> less of a chance. i would say this, frank.re going to maybe get a pool together. >> i'm out. >> melissa and tyler. >> i would rather buy the bag of lays into frank. >> $2 and a dream. >> i'll bring it all back. >> ticket for each one of you and the lays, melissa. the let me take care of you. i'll bring it back. >> what would be the first thing you buy if you win the jackpot >> i would pay off my parent's mortgage. >> good job, frank. >> really good job, frank. >> check, please is next >>> well, yesterday, cnbc hosted an event in new york city called net net which is basically a gathering of senior finance professionals and we put on a pretty good show with top investors with people like david reubenstein. >> and you hosted it. >> i was there for it. one of the conversations that i had taking place off stage with one of the people who was there really stuck with me, and the person shall remain nameless because it was an off-the-record kind of comment, but he talked about the three big investment -- investable trends that he see

back over to you, guys. >> dom, thanks very much dom chu back at hq for us.t, out with the closing countdown. five minutes left to trade. >> and after the bell, general motors and honda are teaming up to build autonomous cars we'll talk to former auto executive bob lutz and jim press about who else in the auto sector could pair up next. memor. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life. ♪ ♪ wake up early, o. ♪ slap on some cologne ♪ i'm 85 and i wanna go home ♪ ♪ just got a job ♪ as a lifeguard in savannah ♪ ♪ i'm 85 and i wanna go home ♪ ♪ dropping sick beats, they call me dj nana ♪ ♪ 85 and i wanna go don't get mad. get e*trade, kiddo. >>> welcome back to "closing bell." two and a half minutes left to trade. let's start with the intraday. you can see how it's been a very positive day of trade right up until the final hour got a little bit of a selloff and went negative and just 10 or 15 minutes ago, and now we're back posi

dom chu at headquarters. >>> the unemployment rate hit the lowest level it's seen in almost 50 yearspayrolls came in below estimates at $134,000 joining us for more analysis and insight, larry summers, harvard university president emeritus, former treasury secretary under president bill clinton always nice to have you secretary summers. one job you didn't get but almost had was chairman of the federal reserve so i'm curious, if you were in that position now with this data, would you be following the same path as chairman powell? >> in general i think the fed is on a good path. >> they need to be mindful of the legs between monetary policy and the real economy when you here in a shower, if there's a long lag between turning the faucet and the water getting hot or the water getting cold, it's very easy to scald yourself or freeze yourself because you turn it and don't feel much and then you turn it again and turn it again and the lags catch up with you that's the kind of thing that's the risk with monetary policy and so they need to be careful and the chairman has signaled a desire to

fleetwood after winning all four of their matches on the opening two days the pad being dubbed molly wood dom has been amazing. and i love him and like us any other there so. we need to spend more time together. but this is our way but there you go your yes i say well i feel so far away. don't take my cap off thomas was a better captain in their team up latest and there's nothing else more you can say . they deserve to win but well you know there's been two years to see your in two thousand and six with tom lehman where. it breaks my heart a little bit more than others because those those two years we did execute while we were given every opportunity to succeed i would gladly go own five very ryder cup my entire career if that means we win every single time that we play and. it's not a fun feeling we spent to go gently three put bell who's at le golf national course to find out what went wrong for the usa and what europe did right when you have a i count the ship francesca modern are you became the first european go to win all five matches in a ryder cup you have tommy fleetwood reveling in t

how did himself come to talk about an alliance in twenty fourteen else dom's purchase today . is you know large this early. early teak. me on. do fred lefebvre. said. the former minister had forgotten that the person in charge of that agreement was himself. fair. dawn was going up to new both to see her did i see joy to know that that. is about it this is i mean. there are no more to bargain sister however that the agreement reached did provide real leeway. is. me. relieved the really good walk may even potty come every measure. buffet my proposal. succeeded in obtaining two prerogatives the partial nationalisation of would first of all from twenty eighteen on would allow the state to block the total sale of energy related activities then concerning nuclear activities the state maintained its sovereignty through a right of veto but france has never used either of these two shields today. no longer mentions energy sector activity and general electric's makes no reference to the joint ventures. was taken off factory buildings and replaced by general electric signs the alliance n

technologies, and those questions that remain to be answered but will be closely watched by the markets domback to you >> those are wide-ranging those ripple effects >>> let's bring in dan ives from equity research and arjun talked about the ecosystem, it's wide as to where we are feeling this in the marketplace is this justified? should we be worried should the stocks be taking the kinds of hits they are because of this? this has been a silver bullet moment and it took the worries about china and some of the battle going on between the u.s. and china from background noise to the forefront this is something that could be a fort s sumner type moment when you look at the chip food chain on the smartphone side, this is one that now we'll see what the coming responses are. but in the near-term it is a risk that as of some uncertainty in terms of the next move here >> does this in any way shape or form alter the business outlook, positively or negatively for u.s.-based hardware and technology companies could there be a situation where we turn back more towards do mets mestic producers, or does t

dom chu's in the newsroom breaking it all down. >> just about everyone who cares about market will carethis week. we've got around 150 s&p 500 companies reporting their results making it the busy yest week of the season. ten of those stocks are components of the dow jones industrial average and buckle up for thursday, because that will be the single busiest day of reports with around 66 companies in the s&p 500 posting their results either before the open or after the closing bell. while the initial string of earnings reports over the past weekend or so have been focused on the big banks, this week will provide a wider spectrum of industry and sectors. caterpillar reports on tuesday. ford motor reports on wednesday. communications and retail? amazon, alphabet, twitter, all on the docket thursday. this is also the week where some of the big health care names will report on wednesday and you got bristol-myers and merk reporting on thursday. according to data from the investment group, the average one day stock move for companies reporting results has been down by around .7%. that marks th

. >> over to dom chu >>> the fed chairman is making comments at the national association of business, massachusetts. in the context of his remarks he will be saying that the economy looks very good in his opinion forecasters have remarkably a positive outlook on the economy right now. rate moves reflect efforts by the fed to extend the current expansion of the economy the strong economy, low unemployment should continue as well in his opinion. also drifting inflation expectations are a possible danger whether they be to the upside or down side as well. they are taking a risk management approach to managing the economy. the fed is aiming for maximum employment and stable inflation. also that high wage growth alone need not be inflationary inflation stability thanks to anchored long-term expectations are their particular view and no evidence of inflation expectations shifting. also one quote to put in context all of this, fed chair saying when monetary policy tends to offset shocks to inflation rather than amplifying and extending them and when people come to expect this kind of policy

. >>> let's get to dom chu head quarters for a quick sector check now.ght now a big performer here to the upside in this otherwise down market a fifth straight day on track for its longest losing streak in five years for the s&p check out some of the stocks on the move with regard to that utilities trade as you see it play out remember, this is a big deal for a lot of traders as they look towards today's very interest rate appropriate treasury note auction this afternoon, so certainly something to watch, guys back over to you. >> all right, dom, thank you very much. dow down 318 now session lows what's coming up on "power" later today. >> "closing bell" and "power" all over the sell-off. technology hit particularly hard we'll talk to dan niles about what you do you do if you're holding some of ese thhot tech stocks that are cratering in the last sessions. "squawk alley" coming up next. ♪ ♪ put your data to work on the cloud that drives business. the ibm cloud. the cloud for smarter business. >>> good morning, it's 11:00 a.m. here on wall street and "squa

sovereignty through a right of veto but france has never used either of these two shields today else dom's website no longer mentions energy sector activity and general electric's makes no reference to the joint ventures. logo was taken off factory buildings and replaced by general electric signs the alliance never really came into existence. but to. accept. the. city to haiti believe him you proceed to construct. the next year now dawn you know to preserve the from the multiple new. may. you. see. when the time came to seal. government representatives met at the elisei palace. most of the actors present agreed to put conditions on the sale emanuel not grown then assistant secretary of the elise a is unconditionally campaigning for general electric his argument is we are not in a position to intervene legitimately this is not a controlled economy this is not venezuela the next day. welcomes the final agreement. to new. niggas just. do it. two months later emanuel replaced at the ministry of economy and in charge of the case the partial nationalisation driven by berg vanishes with him now s