which could jack up the moves into the close let's get to all of it dom chu on today's action, frank collin on more of fedex's red flags, and rick santelli on rates. crazy stuff continues. let's kick it off with the market data bank >> quadruple witching, which could add to the volatility as futures and options for many instruments start to expire today. watch that as we head to the closing bell but right now, we're kind of in the lower end of the trading range that we've seen. the dow industrials down about 315 points 1% downside, 1.25% for the s&p 500, down 50 handles, 3850, the last trade there to give you an indication of where the range is, it's been down all day, but at the highs, we were down just about 21 points at the lows of the session, down roughly 64 tilting again more towards the lower end of the trading range today. the nasdaq composite index down 1.5% the biggest laggard down 111 points technology, a big part of the market narrative, but taking a backseat, if you will, today, to that fedex news that brian just mentioned and that big kind of rescindi ing of its forecast fo th

fr frank collin has the trades. frank, take it over. what can we expect from fed gs tonight?ian, no huge surprise, as you mentioned, when it comes to revenue and epps the earnings warning kind of laid that all out. epps, 33% below the estimates. but the question is, is all the bad news priced in fedex trades on margins as well as it does revenue and epps, especially the margins for its express division, which is 50% of revenue consensus has 6.4% margin on the express division but here what we know, air freight rates are down 45% year over year. that's obviously going to hit this division. just the previous quarter, pricing was up 20%, obviously a dramatic reversal. and then we also have to look at the current-year guidance. that was pulled, but ceo raj, he's reaffirmed the fiscal year 2025 guidance. what you see is pretty ambitious. 4 to 6% revenue annual growth. margins in the freight division being incredibly strong. express being incredibly strong. so the question is, will there be any change to that? we'll also be listening to the commentary on the call, when it comes to

good context and it's something obviously we'll talk about maybe for awhile it's our frank collin.s up with a rapid update steve has that good morning, steve. >> yeah, carl, we had retail sales yesterday. they beat expectations, but you had downward revisions in prior months and all that prompted another downgrade to the outlook for third quarter. gdp, the numbers, forecasters shaving 30 basis points from the third quarter outlook bringing the rapid update number from 1.6 to 1.3%. and some funky trade and inventory numbers. forecasters have begun the quarter and thought after two quarters of negative growth we'd get a decent or healthy bounce-back with gdp above 2%. in the last month there's pretty good disagreement. barclay's 0.3, atlanta fed 0.5 and goldman 1.1% amherst pierpoint -- massive swing factors -- 3.6%. stuff comes in, it goes in the shelves, inflation changes the value of the inventory but steven stanley from amherst, one of the optimistic says he thinks goods purchases they've been muted but it will be a swing back for the consumer to spending on services still, if th

. >> wow, ben collins, frank figliuzzi, david shelly, it's a terrifying way to start, but i'm really this conversation. you have shaken me to my core. thank you. claire sticks around after the break for us, this moment with donald trump and the rest of us put into really exquisite historical context. our next guest details two reasons why what we are living through right now represents the greatest threat to our country's governing ideals in decades. those two reasons and what we can do about it is our next story. don't go anywhere. i'd like to thank our sponsor liberty mutual. they customize your car insurance, so you only pay for what you need. contestants ready? go! only pay for what you need. jingle: liberty. liberty. liberty. liberty. life... doesn't stop for diabetes. be ready for every moment, with glucerna. it's the number one doctor recommended brand that is scientifically designed to help manage your blood sugar. live every moment. glucerna. [ marcia ] my dental health was not good. i had periodontal disease, and i just didn't feel well. but then i found clearchoice. [ ford