bob pisani has more on the push and pull in this market.ep >>ter: more whipsaw action for the markets today. the dow jones industrial average swung between triple-digit gains and losses,igher by 166 points at its height, but essentially unchangedt the close. traders have been hanging on every word out of the white house and other congressional leaders on the state of the proposed tariffs. stocks rose briefly midday when david perdue suggested theid prt might be flexible on the tariffs. but in a late day press conference with thesh swe prime minister, the president did not back down on his threat to slap tariffs on steel and aluminum imports, claiming china sends more sheel to united states than most people think. he disputed early reports that china imports only 2% of the steel imported into the united states. where would alld? this bulls are praying that by the end of the week, president trump will indeed sound more conciliatory on tiffs and that friday's february jobs report will show wage growth is subdued. wage growthnuary's of 2.9% year over year was the strongest since that caus

bob pisani is here with the details. bob? >> hi melissa. it was one of those weeks. row, down about 20% for the week. since 2010, there have been 23 declines of 20%. and this recent decline of 70% over five days it is tea fifth most severe and theive ninth longest. it's no surprise to see damage to investors sentiment the latest news is this. we found out who one of the big sellers were in the early part this year when esaw such a big drop in bitcoin. the trustee said they sold $400 million in cryptocurrencies in the past few months. they are of course defunct but it has a trustee in charge of its remaining assets the sales occurred between december and february were likely a major factor in the declines we saw at that time on february 5th reported thely the trust sold 18,000 bitcoin. it drop about 20% that day now, this may not be over. s that part of the problem the trustee is still in possession of $1.7 billion in bitcoin. that's nearly 2% of the outstanding market cap and nearly $200 million in bitcoin cash and then we have the head of the central bank of china w

bob pisani takes a look at the montnd that was, what march may bring. >> reporter: february has pven to be nothing short of tumultuous for the market ocks recovered 70% of their losses since the correction, the dow isown for the month, the first february month in five the dow and s&p also snapped a ten-month winning streak. we haven't seen that since 1959. will march be a mess too? not necessarily. data shows the s&p was positive in march% of the time. not bad. rtmarch brings no se of other market moving events for investors to focus on. federal reserve chairman jay powell returns to the hot seat tomorrow when he testifies before the senate. we'll see if he walks back any of his previous comments about the economy strengthening that spooked investors on tuesday. it's looking more likely there will be fourikes this year instead of three. and that's got people buconcern. there's plenty of other data for the fed to factor into the equation. the jobs report is next friday. it means anothere update on w growth along with a handful of other inflation reports and a first look at fir quarter

for "nightly business report" i'm bob pisani at the new york stock exchange. from e santoli joins us the stock exchange for more on this decline. i think you were the one who coined the term tariff tantrum. is that what's going on? >> i don't think it was all we were seeing today but i think that was the added element this morning right at e outset that came upon a market that also was nall thatad interest rates are going up, this fed is looking for opportunities to bring rates higher if they can, if the economic data allow for that. and then as bob was saying,ss t f leadership from the big tech group. which a lot of investo i think were hiding in because it seems seemed like they could grow a i almo environment. but the tariff issue is a eminder that policy across a monetary policy turned less t friendn we got used to last year. >> the volume, though, mike, didn't seem like y.ngckt wi he myhe prof tessione als wy ho were se? >> interestingly, you are solutely right, sue. it was not a feeling of panic or a mass luidation of stocks. people were pointing out tha

i'm bob pisani at t new york stock exchange. >>> china is now ready to retaliate. the world's second largest economy is threateng to raise tariffs on about $3 billion worth of u.s. imports. and concens of escalation in trade tension is playing out in china'sanufacturing heartland as well, where they make that made in china label. eunice eun reports for us tonight from china. >> reporter: i'm coming to yo u fr. trade deficit central, american companies have been f relying otories like the one i'm in right now to make men's shirts, toys, and television sets that are eventually sold to u.s. consumers. the word to describe the mood ih export dome is nervous this morning we woke up todi an ime reaction from beijing, tariffsre being seen a a warning shot of things to come. tariffs were a reaction not to president trump's announce men yesterday but to the steel and aluminum tariffs earlier in the month. th chinese chose their products carefully. they are goingalfter politic bases, farmers and swing they are targeting almond countr which went for trump and looking to rattl

bob pisani has moreghor us tofrom the new york stock exchange. >> the big story today was bo fa, down 7%. on the surface, it's easy to blame today's market woes justc on ok. it's a big name, big valuation, a lot of momentum behind it. when it reverses like it did laday, it gives a lot of investors, particurly momentum investors, pause. but the story's bigger than facebook. social media in general has been under assault for over a year. many now realize that services that companies like facebook and google or snap claim they provide to them for free, in fact, comith a heavy cost -- privacy. and the customers are now coming to it understand that in many cases, they're n customers, they're the product! but there's bigger problems for the market. there' a big leadership vacuum right now. nord group is stepping fors tech stocks have dropped. stocks started strong with leadership among technology and ials, consumer discretionary, but tech is now rolling over amid an assault of social media and nothing's stepping forward. energy stocks never tecovered fr drops in early february. materials an

bob pisani has been in the middle of the action bob?ll circle back to bob in a minute bertha has been in the middle of the action where, by the way, dropbox's ipo went off pretty well but the nasdaq closed below 7,000. >> what a difference from this morning to this afternoon. certainly the enthusiasm we saw with the ipo, we'll get to that in a minute. very much dissipating this afternoon. the nasdaq closing below 7,000, at still up for the year clearly technology this week has been the huge drag that had been the driver for the rally in this market facebook is ground zero for the sort of negativity we have seen in tech this week. facebook for the week down nearly 14% that's its worst weekly performance since the week after it came public back in 2012. you remember, they had a not so smooth ipo debut that overhang has spilled over to the nasdaq 100, which is among the worst performers of the big sectors this week. as i mentioned, it is up for the year, but among those f.a.n.g. names, if you can include apple in there, now you've got face

bob, thank you. >> bob pisani at the new york stock exchange bob was talking about some of the sockshome depot is one of them. you bought that. on your list, tim, there is there a list. >> fedex and jp morgan are at the top of it. no one here on this desk is ready to say there is not great growth in the backdrop there is market factors and technical factors. delta and united those are three or four names to have on the top of the list. >> the quarter was outstanding >> fantastic. >> if you look at the numbers it is a cheap stock compared to ups, down how from its high fedex is this, ups as well steel stocks -- tail winds for the steel sector didn't go away. the only thing that came into the conversation was the tariff conversation which i think will go away at a certain point. >> besides home depot what are you looking at >> i already own it. recently is exxonmobil it has been in correction. and they have not caught up. as oil has gone higher the names haven't been pulled up with them i think sooner or later that's going to correct exxon, chevron, take your pick. >> grasso, head over

spotify, bob pisani is on the floor. what do you make of today's market action?> the important thing is when you get the faang stocks stabilized, the market stabilizes the big five faang stocks, 15% of the s&p 500, five of them, we had earnings issues around them. and when those calm down, the market tends to calm down. so it's really all about future earnings expectations and we're still debating whether the big trend this year is going to be this next quarter is going to be should we deal or sell in any way these big tech names still markets are open on that one. let's go to spotify. they're trading right here behind me sometime next tuesday. right here, i'll be right here we have highlighted how nushl this direct listing is first, no new shares are floated. all the shares are being sold. they come from existing shareholders there is no traditional road show did hold an investor day meeting that is live streamed. there is no bank that will be buying shares from the company then selling it to the public. as you usually see in an ipo there is no book no one is so

body bob pisani is taking a look. >> a lot of this was due to etf involvement and what was going on in want to show you what happened on friday. we saw a notable downdraft on concerns over what was going on with the tariff situation. but then once the european market closed at 11 k34r07b, markets turned around and stocks began lifting. we saw european etfs france, for example, had very heavy vacuum there's the turnaround the french etf had very heavy volume going into that they were selling the market we saw the same with sparngs ewp, some of the italian etfs as well so people were using the etfs to express their concerned. so obviously they're very worried about the tariff issues. by the way, be careful about what etfs, you choose. they made a major mistake on friday they bought the slx but that's not the etf you want. that's mostly foreign stocks and they didn't do as well everyone they should have bought is the u.s.-based steel stocks it's on the top. the orange outperformed the one on the bottom, the slx look at what's in the slx. that's a very good example it holds mostly foreign

julia boorstin, bob pisani on wall street. julia, let's start with you. >> facebook hosted a packed internal meeting in -- this afternoon facebook issuing a statement saying quote merrick cheryl and their teams are working around the clock because they understand the seriousness of this issue. the entire company is outraged we were deceived we are commitmented to enforcing our policies and will take whatever steps are required to see this happens. facebook shares closed down 2% on among other things facebook saying it expects a letter from the ftc with questions about misuse of data facebook saying quote we are aware of the issues being raised but cannot comment whether we are investigating. we take allegations of violations of our consent decrees seriously as we did in 2012 in a case involving google. this comes as leaders in many countries raised red flags for investigations and for duckerberg -- zuckerberg to testify. this is all against the backdrop of reports of management disessential at facebook as its chief information

grayscale has a one-year vesting period back to you, melissa >> thank you, bob pisani at the nyse b.kt do you make of these new products >> it's what i thought would happen with this space wall street is coming at this. it's a new asset class now you need new products. so, you know, in the long run obviously i am still quite bullish on this space. i might even have to move my -- trade my bear suit in for that bitcoin suit, which would be nice >> that's pretty sweet for more on this let's bring in michael sonnenshein, managing director of grayscale investments, the largest asset manager in the digital currency space. he created the four new single currency funds you just heard about. michael, welcome to the show >> thanks for having me. >> what sort of investment gap do these products fill why wouldn't i just by with no limitation, why wouldn't i just buy the digital currency >> grayscale has been at this since late 2013. investors wanted exposures to digital currencies digital currencies are not like stocks and bonds and other things you buy there's certain technological prowess peopl

yes, that would have made sense. >> thanks bob pisani >> despite the wreckage one of bitcoin's biggest has a message for investors, keep calm and hodl on. tom lee joins us when we put on twitter you were going to come on, we got flak because you just say buy bitcoin and keep holding object hodling, whatever you want to call it but your premise of buying and holding is backed up you say by numbers, by data >> yes it is a simple exercise. people have done it for equities for a long time. if you take out the ten best days for bitcoiner every year based on percentage change, bitcoin has fallen 25% a year. so in other words, the gains in bitcoin occur in a very short number of days even last year for instance if you exclude the ten best days, bitcoin was only up $200 in other words, that whole 1600% move was created in a handful of days >> how confident are you that historical data holds for an asset like bitcoin when liquidity has changed so dramatically over the course of as many years. >> i mean that's a fair question you know, this idea of avoiding market timing, really that's why you w

let's get to bob pisani for more. >> the s&p is just 5% off its 52 week high, also the all-time high but the widespread between the winners and losers several stocks are already in bear market territory. there is one big outlier ge, 55% off its 52 week high and at the lowest level since 2009 but there are other companies that have entered bear market territory or are very close. walmart 20% off its recent highs. it was $87 in october. rallied to $10 in january. but a poorly received earnings report brought it back down to $88. the consumer names performed poorly as well proctor and gamble 18% off its recent highs after a poorly read earnings report in january p and g, too and oil stocks oil stocks are all down. exxon is down so% for the year 16% from its 52 week high. an odd divergence between oil and oil stocks home improvement stocks have been faulter, after rocketing straight up for five years home depot hasn't been the same since disappointing commentary in late january. now it's 14% off of its recent highs. a lot of casualtist. >> thank you bob pisani, at the nyse our next analy

seema modi and bob pisani. bob, let's start with you. >> we're at the highs of the day. we're not getting those big market on close sell orders, $2.5 billion we saw on friday. that tanked the market towards the close. let me show you the s&p 500. we were fine at the open, 40 points on the upside and slid going into the european close. it looked like the minute that stopped, europe stopped, the market lift. we have a nice v-shaped pattern to the trading today sitting at the highs for the day. you have two things. when they move, the whole market moves, and that's tech and financials you look at ibm on the floor when ibm starts moving like that, 2.5%, that doesn't happen that often, you overall get a market rally then we also have, of course, the financials when you get a goldman sachs here up $8, that's a dow component, that's about 60 points in the s&p 500. and you'll be assured a rally when you get two big tech stocks moving at the same time. the other part that's helping is industrials, which have become proxies for the trade war dispute. boeing, we put that up day aft

bob pisani is at the new york stock exchange with the details. bob?> hi melissa with bitcoin down quarter i guess you could call it the quarter from hell bitcoin fell 6% on big concerns that crypto investors will have big capital gains they need to pay by tax day and are selling to pay those taxes still we are closing the quarter at the lowest level since early february for bitcoin what else went wrong this quarter? we had regulatory pressure from the s.e.c. which said not only icos but also crypto exchanges should register with the s.e.c then social media platforms like twitter and facebook and google banned crypto ads. it was no better overseas. a defunct japanese sold $4 billion in bitcoin cash and has $1.5 billion more to go. interest in bitcoin is also way down google searches for the term bitcoin peaked in mid december and fell 75% since then. bitcoin started the year with a value near $300 billion. now it's down to $127 billion. all contribution are down to half where it was at the start of the year. fund trat's tom lee says he is keeping his y

all of the details about theariffs until they are announced and it's a real concern for investor bob pisani explains. >> reporter: it was another tough day for traders. stocks meeang derd over most of the day. who's going to replace gary cohn? how does china play out? how doesafta play out? this is not something your average portfolio manager has an edge figuring out. traders want to focus on earnings and in this environment you have to become a trade expert. the most important people now are trade policy wonks. nobody's talked to them for ages. the tariff story is a big problem for the stock mbeket use it upsets the main narrative that the global economy's expanding and earnings are at record high. a trade war will reduce and it will endangerer that whole growth story. so with so much event rick trading is a light. the s&p 500 really did not breil out uater in the day when white house sarah huckabee sanders said that canada and mexico might be exempt from tariffs. the predent is expected to make a full announcement as soon as tomorrow possibly at noon. for "nightly business report,an i'm b

bob pisani is at the stock exchange for us tonight. >> reporter: first, was the big market leader last year and into 2018. it was partly because social media stocksere big marke movers. not just facebook, but snap and pandora, twitter, groupon, other social media stocks attracted al lot of new mont year. the social media etf was up over 50% in 2017 and attracted a lot of new mone but now social media in general is under attack and it's not cheer if there will be any market leader. there is a big problem with that. no market leadership in social media. the other problem is rick of increased regulation. ternet platforms in general have been very lightly regulated since the first laws were written in the 199 oz. with always for investigations and congress gaining steam all we nee are o or two more nasty revelations and there will be bills introduced with broad kblekss for many other tech and software stocks. finally, if you are hopeful that facebook's shareholders will risep and force changes in the way facebook manages itself or even force changes in management, forget about it. that's n

for "nightly businesseport" i'm bob pisani at the new york stock exchange. >> let's turn now to our guest for more on this unpreziktible market. matt mayly at the equity strategy at miller ta back. welcome guys, nice to have you here. matt, what the heck happened? well, it's kind of fuy. the tech group seemed to be the eetalyst today. of course last it was the trade issue. but right now we are -- it is a funny. in january, the mart was riding really high and everything was going good after the tax bill. but then february the market got cracked. and people were saying well nothing has really changed. well some things have changed now. whether it be interest rates moving higher toer the fed being less accommodative. tand then what bob was j t in terms of the -- whether we are going to be in a trade war or more trade stresses an the whole thing with social media. some uncertainty is out there and that's causing the market tn come d little bit. to be honest with you the one thing i'm worried about -- therefore i'm a little cautious that we could g a little bit lower. but the other thing i'm w

bob pisani takes a look. >> the bulls regained control of the market on friday but today not much was swaying stocks one way or the her. that's a bit of a problem. the market briefly rose on reports that cnbc criticer larry kudlow could be the top contender to take over as donald trp's top economic policy adviser but drifted steadily lower after that. the problem is there's a b of a news gap this week. with the jobs report out and earnings season winding down, the markets are now entering a choppy period that characterized by lighter trading volumes and a little bit of intraday volatility, but there's not a lot oconviction one way or the other. we did see defense stocks and industrial stocks like boeing and caterpillar lower today. those were the big winners last week, but not this week. what comes next? investors will be watching a couple of key inflation points this week including consumer and producer prices, but not much else until the federal reserve's next meeting. that won't be until next, we march 21st. the down side risk is stocks are still prone to the scary inflatio headlin

bob pisani leads us off tonight from the new york stock exchange. >> stocks surged following reports that the u. and chi are holding quiet talks to ease the trade rift between them recouping almost half of last week's losses. now, there was a modest blip midday right before the european markets closed brought on by news of rising tensions with russia over europe. but once europe closed it was smooth sailing. the s&p spiked more than 2%. why exactly did we get this lly? trade tengs hatensions have eas much cheaper than the start of the year. the s&p 500 is trading about 15 times forward earnings. that's a lot cheaper than in january. in other words, the correction helped reset an overheated rket. the k leadership is back. that's important. tech and financials led the charge.he remember,re more than 40% of the s&p 500 together. it's hard to keep the down when you have those two sectors this strong. in fact, apple, amazon and microsoft, the three largest stocks in the s&p, they were up 3 to 7% today. that's huge. together these three stocks are % of the whole weight in the s&p 500. all

bob pisani explains. >> the mark's tone has shifted. two week ago it was about tariffs and trade wars. now there is uncertain around technology and what effect that might hav earnings. facebook's data scandals that thrown social media into a existential crisis, then you have got nvidia's driverless car issues and tesla's credit edowngrade. aps getting hit after iphone sales were cut this year. and there is word that president trump might go aftermazon's tax treatment. here's the deal. technology has gotten too big for itsbr ches. the three biggest stocks in the s&p 500 are apple, amazon, and alphabet. combined they have a market cap of $2.3 i trillion out of the s&p's market cap of $ trillion. three stocks make up 10% of the s&p 500. tech is 25% of the s&p in total. add financial into the equation and those two groups make up % of the s&p. that's a lot. the smaller sectors, energy, utilities, materials, telecom, real estate, they they are only 15%. they don't matter that much. consumer discretionaries and consumer staple stocks make up

for "nightly business report" i'm bob pisani at the new york stock exchange. alk more about the new risk to the market are andreas garcia amaya the founder and ceo of zero financial and brad mcmillan the chiin stment officer at commonwealth financial network. andre it's good to see you n. ag let me just begin with this idea, you have a very global perspective on investing. is thereg anyth this threatened trade tariff that should change my fundamental posture as an investor? >> i think that's the right way of framing it, and the answer for me is no. the fundamental picture is that we've had a globalize d synchronized atcovery. this is a wrinkle, right? this potential trade is a wrinkle but it doesn't change what was my view earlier is stocksere already expensive, even going into this here in the united states w should expect lower returns than they have seen the last seven years. this is new and the market doesn't like it so i'm not surprised we've seen more volatility than in prior months. >> would you agreeith that, brad, overall? i mean the fundamentals cert

back to you. >> bob, see you in a bit, thank you, bob pisani. closing bell exchange now, jo g joining us here at post nine, joining us from los angeles, from chicago, rick santelli, i'm announcing -- i don't know what it is, but announcing something. peter, what is this market announcing to you today? >> well, i think it's taking a breather i mean, you know, we had -- we whip sawed yesterday, we did, the day before that, and seems like there's just a lot of rotational movement, and i think today, we're finally taking a breath, and we are litting the tech stocks settle in, and, you know what, we probably won't see much of anything tomorrow, similar action tomorrow, and what happens next week, though, could be interesting >> wirick, equities are pausinga little bit, dollar is not, talk about the dollar-yen, a huge move >> yeah. i'll tell you what, the dollar index is up over a penny in two sessions, up three quarters a perce there about alone, and today, the flight to yen is reversing a little bit i think that's all interesting, and we could spend

bob pisani joining me. see some negative moves internationally.pite this volatility, u.s. markets end the quarter on a positive. >> two facts number one, historic highs in january. number two, 20% earnings expectations for the quarter that's a toxic brew. when we get concerns about inflation in february, then concerns about tariffs and concerns about earnings in technology, that impacts the market 20% is an enormous expectation for earnings growth. part is the tax cuts but part is the whole global economic expansion. earnings are stretched in the technology group we have an understandable tension going on here. i think by and large, with the exception of a possible few tech stocks, i think we'll be okay. the numbers early on for the first quarter, the first 20 or so quarters, have been fantastic. the numbers are well above expectations there have been about 20 companies already reported the first quarter. necessity had quarters ending in february the numbers are really good. i'm hopeful once we get into the earnings season, the sentiment will turn

week and the s&p 500 is now just half of a percent away from correction territory let's get to bob pisani at the nyse floor >> hi melissa. what a week for wall street. my heavens, the s&p moved in a 150-point range, opening the week at its high and closing at its lows the big problems, the most important sectors, financials and technology aren't showing leadership both sectors were down nearly 7% this the last five days. together they are 40% of the s&p 500. if they are weak, there is no way the market can significantly advance. tech stocks were hit hard. facebook was down 14%. social media is in the midst of an extension crisis right now. all the other fang stocks they were down notably as well, amazon down 4% alphabet 9%. the weakness in bank stocks was in the biggest names as well, morgan stanley, bank of america, key corp, pnc financial, all down 7 to 9% these stocks are sitting at the lows they saw in february. utilities and energy led the charge but they are such a small part of the s&p 500 they can't move the index why the volatility trade protectionism is a threat to earnings grow

bob pisani is at the new york stock exchange it is like the weather in denver, if you don't like it now, just wait. >> and the bottom line is we're more stable now and the reason we're more stable is because what i call the tech big five, they're more stable. they are off the lows. apple, amazon, google, microsoft, facebook, these are the big five in technology they are all off the lows. amazon is not having a good day but it was worse earlier when i say tech is too big for its britches and here is what i mean for the big five and what they do to the market. they have a 2$2.3 trillion markt cap and the s&p 500 is 23 trillion and then you throw in facebook and microsoft and they have another $1.1 trillion so you have five stocks part of the s&p 500. and it gets worse, if you look at the total technology and the next screen -- technology is 25% of the s&p 500 financials are 15% and that is mostly banks and the technology is 40% of the s&p 500. here is the problem. without that moving in the markets have a hard time moving so look at the smaller names, nurpg and materials and reits and tel

bob pisani joins me today. talk us through your main themes in terms of what we're seeing. >> we had debates before about what the issues were around trade wars that was dominated for several weeks. now in the last few weeks, week or so, we have two issues emerging we have separate issue of facebook, how much is it going to impact earnings on social media in general and broad this could be google, in fact, if you get less user engagement. now the nvidia news. the question, how much might that impact any earnings around any semiconductor groups as well so, a little bit of fundamental issues here floegt around. these are not technical issues at all i think they have some soul searching to do. >> yesterday's bounce short-lived. we're down 343 points on the dow at the close the nasdaq down nearly 3%. ringing the bell at the nasdaq is bravo's sell it and the nyse was the new york mets. baseball season kicking off. that's it for the first day. kelly with the second hour >> thank you, wilf welcome to the "closing bell

kevin o'leary, aaron weiner and ross gerber are standing by as well let's get down to bob pisani on theloor with more of the action bob, this is quite -- this last hour in particular pretty bad one. >> yeah. we're ending at the lows of the day. the market has a lot to digest, a lot of issues. let me show you the market problems four or five of them they're all battering various sectors around number one, most importantly, the trade war implications number two, techs are faltering. there is no leadership because tech is not doing anything nothing is moving to take its place. not industrials, not banks we have bonds in flight to safety that's creating big problems for banks. we have what i call an existential crisis in social media that's cluttering not just social media fluttering through to technology in general let's take a look at some sectors. look what happened to steel stocks today mr. lighthizer was talking about possibly exempting, brazil, south korea from all these steel and aluminum tariffs these stocks have done a complete round-trip, up march 8th talking about the tariffs. no

bob pisani hey, bob. >> we have a global rally going on the nikkei up 2% europe up 1% we were a lot morehe premarket. futures were about ten points higher opened about even on the advance decline line look at the sectors. modest leadership from technology which is always a good thing consumer staples, materials, energy flat considering oil has been rallying. industrials not doing much either i want to point out what's been going on with oil. we are not getting help from energy as a leadership group oil hit $66 intraday that's the highest level since the end of 2014. yet energy stocks if you put them up isn't doing anything oil is up notably this year. oil is up 7, 8% for the year the white line is oil. look at energy stocks which normally move roughly in tandem -- doing nothing. energy is down, oil up at a multi year high. this is telling you that the street believes there is no leadership in oil stocks at all and no reason to own them even with oil rallying. we need other groups to come forward and oil isn't doing it as for the broader market i hear people saying this is a technical con

a number of stocks are feeling the rath bob pisani is at the stock exchange for more. >> hello, melissaa lot of oversold positions. and secondly, we did not have the massive wave of set orders thieves -- we were -- these are the two biggest sectors. they are collectively 4 when me move, the whole market moves that was a big factor in the bounce that we saw today how oversold >> how fast stocks are moving, so it's typically moving it signs a numerical value it's a signal that's it's dramatically oversold. at the close on friday, here's an example they were all in their 20s this is the most oversold readings we have ever seen even boeing, they were all is sitting on the edge. even three of the five f.a.n.g. names. they were also sitting right on the edge of oversold territories. it's a key technical indicators and it's bounced on february 9th, and it appears to have bottom the today you get a reversal and you get the kind of big move we have today. >> thank you very much, bob. what struck me was general electric, on the edge of being oversold. >> and i think -- back to what bob said, the

and the uk coming after facebook lastly bob pisani on the markets. are they being de-fanged as a result julia we start with you. it's my understandings that ceo mark zuckerberg is not expected to -- >> facebook shares droppings another 5% today is it does not have an indication of a formal probe the ftc says cannot comments on whether we are investigating. wall street is evaluating the fallout. a lot of analysts maintains buyers saying they don't expect significant impact george fang sis the biggest impact would be -- to gather and deploy data. jpmorgan says it's critical for facebook and large tech overall to proactively -- rather than regulatory bodies. tyler, back over to you. >> julia, thank you. whether users will abandon facebook over this issue remains to be seen, of course, but potential government regulation may be an even bigger cloud over the company. kayla tausche is in washington the house and senate judiciary committees, house committee, and the senate commerce committee. what's what a -- but no world on which relate, they favored a lig

back to you. >> thanks, bob pisani.bbe bu still to come, wilbur ross is going to join us as we go to break, the ten-yr is right around 2.84 and now 2.33 back in a minute i know when i hand them the keys to their first car it's gonna be scary. but i also know that we're gonna have usaa insurance for both my boys. it's something that they're not even gonna have to think of. it's just gonna be in the family. we're the tenneys and we're usaa members for life. intraday low jackie deangelis joins us from the heart of steel country in pennsylvania good morning, jackie >> reporter: good morning to you, carl. well, here at zuckerman industries in pennsylvania, a steel manufacturer, the management announced yesterday that employees across the board will get $1,000 bonus when president trump does impose tariffs on imported steel. so they are applauding this decision now, steel manufacturers in the u.s. have been waiting for this. they are saying president trump promised them he would help level the playing field, and they finally

and also on pace for the best day since january 24th tyler >> bob pisani is at the new york stock exchange following the wild swings, and the dow just moved into the green now now. >> you see it's been moving up in the last ten minutes, there are stories floating that the president might be open to changes on tariffing i'll see if i can get you more the industrial names are the once that get most affected by the tariff stories boeing has generally been down, that's been a drag 3m, united tech, caterpillar and ge have been up. so the dollar has weaker, getting very notable moves up. not just the commodity stocks and k340dity etfs, so copper minors, like south after kaj and brazil, finally i just want to tell you we've been getting details of a big bond offering cvs has been trying to do that deal, they're announcing some details of the bond offering this will be one of the largest bond deals in many, many years demand reportedly has been very, very high, so we'll get you more details. cvs is down. s&p it just downgrade the ratings on concerns about how large this debt offering is. again, mi

. >> bob pisani, thank you >>> looking at stocks now, the dow is up about 318 points right now.lying after that dramatic selloff last week. all 11 sectors in the s&p 500 are positive the s&p 500 is up 28 points. the nasdaq is up 8 6 "squawk alley" will be right back (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley >>> the federal trade commission announcing a private open investigation into facebook's privacy practices after the controversy around cambridge analytica and user data. lawmakers are calling for increased regulation leaving many wondering what those regulations could look like for the industry with us now is federal communications commissioner brendan carr good morning >> good morning. thanks for having me on. >> about a year ago there was a lot of concern about the fcc saying really broadband privacy rules and regulations, that ought to be up to the ftc. people were worried that various itps, comcast, our parent, will be selling user data

dow down 482 at the lows of the session now 2,000 points below january record highs let's get to bob pisani on the floor. >> i'm way over here come on over, vinny. i know facebook is getting a lot of the blame but we have broader problems than that there's no market leadership and hasn't been for a little while here take a look at material stocks the steel stocks went up on the stair riff issues. look at ak steel, down 4%. that's one issue materials not doing anything industrials aren't doing anything either. remember the industrials were moving up earlier in the year. global economy expanding since this trade war became an issue, caterpillar's gone nowhere. it's down five bucks, 35 points on the dow deer same situation. not doing anything another group i'm worried about, swing around, a lot going on, banks were a big leadership group. look, they've gone nowhere ever since we stopped being worried about inflation a few days ago with cpi and ppi numbers, ten-years stopped going up banks have shown no leadership at all they're not stepping up. then other problems with the energy stocks. look

we begin this hour, a huge reversal from triple-digit losses to triple-digit gains, let's go to bob pisani >> we started negative let me show you the s&p 500 to the down side. and about 10:45, we started lifting. theresa may gave a speech in parliament, talking about the brexit agreement i think that helped european markets, and then we heard from the ryan spokesperson trying to turn trump around. caterpillar rose nicely, that was a big one, on $44, we went to 150 or so, so caterpillar and the other industrial names moved up deere, we also sought another group, as the bank stocks, they were weaker, morgan stanley, all rose on the news as well this was quite a turnaround in the middle of the day, and of course more than 300 points from the -- ande. >> and tariff turmoil, that is topic a for many people in the markets, and across the political economy. kayla tausche is in washington on how president trump's plan could effect with the ongoing nafta negotiations. >> negotiatoring have made -- but the tariff talk is weighing heavily and will continue to, and whether nafta must be reupped every

and the dow is down a third of 1% let as kick off with bob pisani life at stock exchange. >> the tariff panic is a mess for the last 24 hours but it may be abating with europe closing we had a lot of pressure selling in europe, closing near the lows take a look at the s&p 500, that is when we closed at 11:30 eastern time and it is straight up we've moved 20 points in the s&p since the european close for proof. >> we've had heavy trading and so spain and italy and france, you could all buy these in etf very heavy volume and all three -- and i think that is further evidence europe was part of. this looking at the vix, what a mover around, 22 or so at the open went to 26 and just been collapsing ever since the european close that is a 25% spread in a day's trade. and sectors, looking like the growth fell apart so semi and banks, ten-year is moving up this morning after 11:30. and tech doing well and industrial stilt -- still lagging but you have boeing and others holding back in the dow so the new risk for the market we've known about powell and the whole issue of the rate hikes. i think t

bob pisani is here on the floor with this more than 400-point rally. s it all the jobs report, bob? >> the important thing is, yes, it's about the jobs report throw in a little news about north korea. at least they're in negotiations and, of course, not as bad as we thought on the whole tariff issue. it's back to cyclicals we're in the growth area once again, so there you go the stock to watch all this week, cyclicals, up 1% for boeing that's about 30 points the dow jones industrial average, another classic cyclical we've been watching, growth names, caterpillar up four bucks, 2.6% the banks are doing a little better that's a very, very good sign overall because even though we had some wage growth, it wasn't high enough to close any concern to the bond market banks are up and even companies like lennar and poulty the home builders are up finally, you see some smaller companies -- companies that are lagging, i should say, more accurately the defensive names like procter & gamble, consumer staples a bit on the downside. what happens next? do we have an al

in mexico city, kayla is in washington, d.c., leslie picker in canton, ohio, and we start with bob pisanit the new york stock exchange. >> important -- do you think they care about the tariff situation? they care an awful lot 10:45, 11:00, reports started coming out paul ryan, speaker of the house, was trying tochange donald trump's mind about the tariff business that changed things. we were down 150 points, we immediately moved to the upside. what moved would be those most impacted by the tariffs. boeing was up 2.5% boeing moved $17 from the top to the bottom that's about a 5% move united technologies did the same thing. take a look at utx, 128, 127, it's 132 now those are big moves for big, big stocks same situation for some of the other big industrials. i'm pointing out industrials because those are the ones that moved the most caterpillar, $5 up it was $144 a few hours ago. now it's almost $152 we also saw the ten-year yields rise and is that finally got some of the banks, which have been a little -- moving. dow component, $6 on goldman sachs. that's almost 50 points on the dow jones

vix up near 16 bob pisani is here with a look. >> we have a little problem.e're in a bit of air pocket in terms of news. there's not a lot between now and february 21st when the fed comes out. we'll talk about cpi and ppi in the next day or two. we had a move up when jim cramer reported larry kudlow was among the front-runners. that helped. it's not enough. we've been drifting lower. big global industrials tied to the tariffs. boeing has been a problem all day. this stock was a lot higher. this was 3$370just a few days ago. caterpillar is another problem 30 to 40 points for the downside we are seeing breakouts as the s&p was higher, we had some new highs and a number of groups out there, including the bank stocks bank of america broke out. that's a 52-week high there. i know it's up fractionally. goldman hit a new high morgan stanley we saw a lot of the regional names, we'll swing to our left, most of the big regionals are at 52-week highs. they moved down a little bit here fifth third, state street, comerica, all of those hit 52-week highs. want to note, the

dow is about 1,000 points lower for the week we'll start with bob pisani who joins us from the floor.> we have made some feeble attempts at a rally. it's not going very far. i suspect there is a lot of selling pressure coming out of europe we'll catch the close. take a look at the s&p 500 rising a little bit of half an hour ago it's all very, very feeble and very tentative you can see not much in the way of a recovery. let me move on to show you some of the sectors defensive tone, consumer staples doing better we see health care doing a little better overall. tech, though, industrials, all the cyclicals are the ones that are the weak sectors today we're also in correction territory in the transportation stocks this hasn't happened in the broader market but transports have been down 10%. we noted that this morning here. we're seeing weakness in the airlines, in the railroads, weakness in fedex, the trucking companies like ryder it's just generally weak right across the board in all of the transport stocks we're waiting for europe to close in the next half hour or so it's been very broa

stick around let's see what this all means for equity markets bob pisani joining us a yo-yo session. >> yo-yo, rorschach, very good way to describe it we are pretty much unchanged we've had a lot of a lot in to get to unchanged, but what this is all telling you is that the market is very sensitive to any perceptions that the fed is getting ge getting aggressive or less aggressive some heard him being more hawkish, others heard less hush i hawkish. let me give you an example booing oig started to move down and it is a proxy for trade war. he made a comment fmoc participants reported that they had heard concerns which were relatively new about future trade actions. is this a startling thing? of course not. but boeing which is positive went into negative territory as he was making those comments and you see he did has bounced back so when people think about it, it is not really any kind of serious commentary that will change people's perception one thing that did happen, we saw tech stocks weakened particularly some of the fang names. google, microsoft for example. netflix moved down ra

. >> bob pisani at the new york stock exchange on semiconductor group when you think of autonomous groups don't think of some of those names that bob put up there. are there chips that got thrown out with the bath water today. on a day like today people look at the valuations and say there is no way they make sense. nvidia is on the cutting edge of the semii sector where a lot of the chips are used in ai ai is everything it's everything tomorrow autonomous is going through understandable difficulties right now on the regulatory side it should to the knock these guys snun micron for instance. >> intel -- micron -- i thought the quarter for micron was outstanding. i'm not sure what scared people. i think what scared people is the fact if the china did retaliate, they would do it in terms of flooding the market with derecommend and that's going to be detrimental to micron if you look at it on an valuation basis it's cheap and what is it called when you walk over to the plasma. >> fast pitch. >> that's what pete did the other day. swell obviously down today on a bad tape if you are asking for

for big tech as the president blocked the broadcom qualcomm deal tending is sector into the red bob pisani the dater latest. >> as goes tech, so goes the market we saw it today. in the middle of the day, semiconductor stocks began weakening and the rest of the market followed suit big names, applied material, i links and nvidia all slid. the semiconductor index down 1.5% what does it mean with two weeks left in the quarter investors are eyeing technology stocks as it becomes clear that the market leadership tech and semiis very stretched. the s&p is up 3% technology is up 10% three times the gain of the s&p. it attracted enormous amounts of short-term momentum money that will be requestic to pile and quick to pile out. particularly when you get to the end of the quarter in recent weeks gains have gone parabolic. cry kron is up 26% even intel is up 5%. much outperforming the markets it's not just semiconductors, which are up 14% as a group for the quarter. anything associated with social media. anything associated with clout computing or cyber security has also risen in the mid teens just i

the dow looked to hang on to two straight days of gains bob pisani is here to talk about the moves in> tough figuring out where we are right now. very choppy market you heard from seema, the global rally is really not translating into any follow on conviction here in the united states. divive nam defensive names were up. banks are not showing volume and conviction i'm worried about energy oil hit a four year high today. oil is up 8% this year energy stocks are down 6%. that's a very unusual spread there. this is a sign investors have no confidence in the oil rally. and they don't want to participate in it. there is plenty of comments recently that all this market volatility has been technical in nature rather than fundamental it's true that the fundmental underpinnings is not under assault. i don't know what they're talking about. we have the trade issues, social media crisis around facebook, rising yields, hawkish fed, contracting financial market liquidity and inflation concerns, rising deficits. this looks very fund aal to me. the bulls are arguing these issues are not a significan

get to bob pisani. good morning, bob. >> good morning, carl. happy monday, everybody.t the dow, the s&p 8-1 advancing to declining stocks here at the new york stock exchange let's call it a 2% rally, because the key sectors industrials and tech, the ones moving i want to show you this couldn't have happened at a better moment. about to retest the february lows look here. 2588 on friday 2872, and low on february 8, 2581 closed at 2588 looked like we were heading for a retest a big, big line. also we were bouncing off the 200 day moving average same time did it in february as well could not have happened at a better time. in terms of sectors now, again, the key is tech and industrials. a nice bounce in tech and biotech. the banks. looks like january industrials bouncing utilities and reits lagging you can see. this is all largely about the trade issues we had steve mnuchin out over the weekend. a big turnaround on the sunday talk shows he was cautiously optimistic to overt tariffs against china. got the steel deal with south korea to limit the amount of steel imported in

bob pisani following the action for us bob? >> hello, tyler, 170 points not what it used to be the second day in a row this has happened, europe closes, and the market has risen the same thing happened around 1:00 we had a bit of a dip, but we closeded much higher it's been choppy tradingle sectors, utilities, consumer staples, that's normally what you don't want to see. also real estate investment trusts up there. you can't move the s&p forward 40% of the s&p tech and banks without having that kind of participate. it's just not possible if you look at the dow leadership, it's the same things it's your nighter, protector and gamble, pfizer, chevron. we have the strange situation with energy stocks there's no rotation into them with oil sitting right north a four-years hide. take a look. oil is up, what, 8% this year so far? we're seeing most of the rest of the oil stocks they're not doing anything oil stocks are down 5% on the year that's a very strange relationship normal the least move in tandem, if not a perfect relationship

let's get to bob pisani. >> we are up but the market leadership, tech, semis and banks aren't doing anythingat's why we're sitting here not up much. take a look at the sectors a nice move up utilities. not a good sign when that's a market leader. consumer discretionary, industrials. and the smh which has been the market leader, not doing anything airlines, jim mentioned united it's up. remember something about the airlines they have had a great six-month run. the airline index is near a 20-year high right now looking at the xal, the old one. not being ark fecffected with te whole fiasco with the dog dying in flight. very strange february reports there. very autos, furniture, gasoline all down i look at year over year numbers. some encouraging things. internet remains strong. clothing i haven't seen a 4.9% year over year on clothes in ages. that's got to be everyone iseve nine years restaurants and bars, that's good department stores is flat. it was down for months for ages and ages it's stabilized. that's a minimal at least. a little bit of good news. and we heard the story about dick's and

. >> let's get to bob pisani a weak open, carl, 8-1 take a look at the sectors, we have utilities doing a little bit early on and those are lower but not dramatically so. the big issue and the question i got all morning, gee, why are we not lower of the cohn ceanews we are having a global economic expansion along with record earnings tariffs mess with that paradigm so that's why it is not good for the moment, most of the streets still believe that a major trade war is unlikely and that's why we are not dropping that much. a lot of people are saying you are delusional and look at what's going on. that's the prevailing paradigm if you look around you will see that people are trying to thread the needle carefully here. they said this morning there will be no trade war but there will also be no trade peace. the new normal from washington will be a use of trade policy. whether the markets can mentally thread the needle, i don't know. that's the contort of the debate right now. the tone of the market has changed. the last few days since the whole thing started. s&p is flat for the month and t