ben willis, get to your favorite line what she said? >> the favorite line is basically an announcement that this is going to be an art form, not a science. if you want to put it in lil rascals' terms, janet, where are we going? i don't know, but we're on our way. the numbers are telling us the market and the u.s. economy is improving, and we're going to need to change our interest rates, but tapered a little bit more in the sense that we'll be able to handle a little bit of inflation, as it were, and we're still not sure where we're going with it but ready to act if that happens. so we had a little -- i would judge this, she did turn slightly hawkish, that was not unexpected. we are expecting a little more hawkish terms which the market, we really want to sell off, but there's no reason to. liz: jerry, ben's favorite line included this, that there isn't one particular indicator or model that the fed should rely upon to make decisions on interest rates. i need to hear from you having been on the inside, which line you felt was most cruci

ben willis, our trader, saying we haven't seen video evidence. could be a hoax. we're waiting to see. and as soon as we get video evidence, we will get it to you. >>> let us shift gears to our, yes, start-up nation series, this caught our eye, america going casual. you read the headlines, yoga pant, hoodies, the line between what people are wearing for work and play has certainly blurred recently. as hoodie culture swept the nation, we have found the maker of what might be the greatest hoodie ever made. no kidding, this sweatshirt hoodie was developed in san francisco, of course, and is manufactured exclusively here in the u.s. not so much, right? made in the usa, and the founder and ceo is a man that we have to bring in as our exclusive guest, byard winthrop. i'm holding this hoodie, it feels thick, you are talking smack calling it the world's latest hoodie. you are selling out right and left, can you only get it through the website. tell us why you say it's the greatest hoodie ever made. >> it's not us saying that. it's a headline taken from an article written

joining mess is bob pisani and ben willis from princeton security groups. how does the market feel to you today? and the etfs having trouble. >> truthfully it's very hard to get a feel. there's so little participation. the volume rates are kind of middle of the road, but nothing dramatic in any sense, so what we're seeing to me is a continuation of fear, not panic, but fear in the marketplace, starting with the high-yield bond issue that's a few weeks ago. not to mention greenspan talking about the much-needed correction. i think the market participants had been used to seeing a correction in sector by sector. they were down 1%, 2%, what i find interesting, just coming in, the russell 20 on 00 seems to be a place that money may be going to work right now, while the large indices are continuing to see the pressure in a broad base. >> i would concentrate on the economic news. ism services numbers were terrific overall, right across the board, hiring, everything on that was good. yes, the fear is higher interest rates. if we get a spike in interest rates, that

he walks off and ben willis walks on. the markets we are bringing ben in from princeton securities to talk about this rally, ben. >> it's basically a rebound from some of the selling we saw on friday, if you remember. part of it, there was a concern that some of the information coming out of the ukraine was having an effect on the market. but, you know, groups like cnbc that are smart enough to have people on the trading floor realize that there was really nothing to that story. so it was actually a buying opportunity on friday. and we're seeing that follow-through again technically driven markets in lack of participation on a summer week. so we broke through a resistance level, and here we are. we're seeing a continuation of that follow-through. >> any icebergs ahead, or is it smooth sailing? >> i don't see any icebergs, but jackson hole is coming up. you never do. i was a captain of the "titanic." jackson hole's coming up. that's probably going to be your one opportunity to trade on information that's coming out of wyomi

we now are joined by ben willis, and michael farr is president of farr, miller and washington. bob says it's a buy the dip day, but what about the other indicators. on a dime we turned and gave it back. the question is whether we get back through 1950, is the next resistance level. but the argument about the bull market we're seat right now seems to be arguing over the quality of the champagne. things are good and when you look at when that news hit the tame, our future screen to the up side. so the rest of the world economy is doing okay. but overall there's still pretty good pictures out there. >> i think, michael, you pretty much agree with most of that. is that correct? >> i do. i just like the cleanest dirty shirt -- i hadn't heard that one. i like that. i think the u.s. is in a good position this is really not a big deal. up 32% last year, up another 5% or 6% so far this year. when we see this pullback that we've seen in the industrial stocks, when we have the yields falling on the ten-year treasury. when we have energy prices coming down, we're getting clear message that

ben willis, let's start with you on this crazy market day. is there any doubt now that this market is influenced greatly by geopolitics? >> i hate to start off this way, but i don't believe it's geopolitics. i think geopolitics is part of the fuel that's triggering the currency markets, which is really what's been driving the technical levels of this market. we hit 1,890 on the s&p futures this morning, a critical line that happened to be 4:00 a.m. before most of us were even up. but kelly and i were chatting the other day and i said that is the line we were most nervous about. we have been in these technical moves as far as the technicians who have quite frankly not been right all along for several months, but the last few days you've been chatting with art cashin, seeing these numbers. but i believe the trigger has been the currency moves more so than necessarily the geopolitical moves. >> let me push back a little bit. how do we explain, then, last night's big selloff in the asian markets when word got out about the president authorizing t

co-founder of option monster and ben willis from princeton security with us today as well.o begin today with a saleoff on stocks on reports that the fighting between russia and ukraine is intensifying, may have expanded to a new front. so far investors mostly brushed off those concerns, pushing stocks nearly every day to new highs, but is it time to be fearful about what's going on? not only there, but

ben willis, lots of things could happen between now and friday and her speech. you care? >> i think that will pretty much be the motivating factor all week. we have cpi tomorrow and then a couple of other numbers that may move the market, but this market has been absolutely headline-driven, as you referred to. you know, friday the markets sold off dramatically on what turned out to be a nonevent, and actually propaganda from the ukraine. there was nothing to the story. liz: let's back up because, i mean, honestly when -- [laughter] when you used the word hoax on friday, for those of you who weren't watching, ben blurted out, listen, the markets are coming back because this could be a hoax. this manning that a line of russian military vehicles was attacked by ukraine. there was no video, and the markets fought back. >> absolutely. and, you know, that's why fox business has people embedded on the floor, because you're willing to listen to traders each though the major -- even though the major headlines may be telling you one thing. mr. putin had too much at risk t

we were talking with ben willis, he said going into the trading day this market asoversold. up almost a full percent. s&p 500 is up 18 points. nasdaq is up as well. only two dow components are in red today, microsoft. they got a ruling can't slow down data speeds for clients with unlimited data plans. verizon not happy about it. microsoft is down today. look at s&p, 468 of the s&p 500 are in the green. 33 are trading down. one thing to keep in mind, the vix has pulled back. volatility easing up a bit. the 6:00 is down almost 6%. melissa? melissa: adam shapiro thank you so much. baconaholics are undeterred as bacon prices surge to 30-year high. can you blame them? my son says, bacon is the candy of meats. james romelli at cme, bacon soaring even today, andrew? what is it doing today? >> right, so we're seeing huge move higher in the price of pork and bacon in particular. that is very interesting, as the price is breaking highs it hasn't seen in 30 years, demand is also making new highs as well. prices continue higher and demand continues higher as well. people are buying more

co-founder of option monster and ben willis from princeton security with us today as well. we're going to begin today with a saleoff on stocks on reports that the fighting between russia and ukraine is intensifying, may have expanded to a new front. so far investors mostly brushed off those concerns, pushing stocks nearly every day to new highs, but is it time to be fearful about what's going on? not only there, but elsewhere. doc? >> we took -- >> what's halling here? >> too guilty over milestones that the market's hitting? >> no. i don't think we are. doesn't mean we go straight up to the upside, judge. we've said time and time again. a lot of smart people like warren buffett, george soros, putting on hedges. it's hedging against longs. these aren't straight bets to the down side. these are folks who have exposure either through as stephen weis said, hedge fund investments they've mand r made and want add floor through the usa of s&p 500 puts or vix calls. smart investors. doing what, the way most of you should be doing out there. if you're not talking to your financial a

broker ben willis says a domino effect let stocks lower, and might have created new buying opportunities>> don't follow the hurt. don't follow the panic. this is the time when you have your market drop off have, your shop lists red. >> i has given up all its gains for the year. jericka duncan, cbs-3 "eyewitness news". >>> the time right now 5:15. a perfect time to check back with you carol looks like you will be having another busy morning. >> i think we will. at least this morning is going to be wet. we may be finding liz some drier slots moving in a little bit later on this afternoon but look at this this is the boardwalk in ocean city where they're having their 52nd annual arts show, goes all weekends long, a lot of rain has fallen along the shore areas. we pick up almost 2 inches of rain through sections of wildwood. so it has been a wet one. let me show you on storm scan3. you can see some of this heavier rain, as it moves right along the shore areas. that's not to say that we're not seek some rain through philadelphia and just to our adjacent western suburbs but the very heaviest o

ben willis, appreciate your perspective on the markets. on a strong session. that does it for us here on "squawk alley." as we hit noontime on the east coast with the dow up 160 points, we'll hand it over to "fast money halftime report." scott? >> kelly thanks so much. big day on the street today. welcome to "the halftime show." let's meet today's starting lineup. joe terranova, stephanie link runs jim cramer's charitable trust. jim is the president of asset manager. pete najarian and managing director of douglas c. lane and has $3.9 billion under management. great to have you all with us. we begin with the markets. stocks are surging today as at least for the moment, tensions in ukraine appear to have cooled slightly. still the global markets remain volatile and capable of moving on headline from a number of different flash points around the world. how should we be feeling about a marketplace that can be whipsawed around by a headline from almost anywhere? >> it can. i think geopolitics are playing such an important part today in the short-term market. i thin

on that happy note, let's get right to it to ben stein, and charles fain and gerri willis and adam koshinski. and i want to remind you that it is still cavuto even though i was out last week. and okay. what do you make of this, charles payne, because we all hear the hack attacks, but this is serious of how far it attacked. >> and how sophisticated, and talking jpmorgan and because it was backed more or less by the russian government. >> and the russians are saying it isn't. >> and i trust putin. >> and we are listen etening t. if i were spearfishing i would let him go in front of me. and here is the thing, the electric grid is a big target, and the oil and gas industry is getting hit all of the time and the banks, and i think that we should take it more seriously, because it is not the target hack, but this is ultimate red flag here. >> and why is this happening? >> well, it happens everyday. the attempts are everyday and it generally comes from three sources, and the banks are dealing with the threats from russia and the middle east and china. those are the sources. this is one of the downs

the force demanded by lou willis who writes the most popular novel written in the 19th century by american author benorts, and batteries, have been pulled to fill the vacant ranks as we talked about in those wonderful songs we were led in as the option father abraham's call and are going to become instant infantrymen to replace in the ports, which have been instructive. many we just heard from our crazy lecture, many by the black men and even the black lady whose land had been taken over for the construction of what becomes originally ft. massachusetts. but is now ft. stevens. so the day on the 10th day of july is an unseasonably hot day. the men are wearing more uniforms and i'm an honorary member of company b. of the massachusetts regimen there. the proudest thing i have is attending some of their rally. i'm glad to see they're here in full strength. strength. [ applause ] [ applause ] . >> the fort was a departure of the heavy artilleryists, one being the first massachusetts. heavy artillery, with wind that becomes a trivia pursuit question. the type of tribute to grass roots you don't like to be.