traders on the desk, sincere, brian kelly, karen finerman and steve grasso a major market sell-off, stocks plummeting as the president turns up the heat on the trade war with china, the president blasting china in a tweet at 10:59 a.m. eastern time. and look at the market reaction after that stocks plunged and never recovered. we finished the day near the lows of the session, all of this as fed chair jerome powell hinted more rate cuts could be coming due to the trade war. steve liesman is at the fed summit in jackson hole, wyoming, but we begin the washington where the president is expected to announce new actions against china. that announcement could happen at any moment. ylan muay is live with that? >> reporter: looks like that response is happening right now. the president put up several tweets, including one that said our country has been losing billions of dollars to china every year with no end in sight, and china should not have put more tariffs on 75 billion dollars on u.s. products that's politically motivated. he said starting on october 1st, the 250 billion dollars of goods an

. >> i see you brian>> kelly.ity of -- hi brine kelly. >> the city of washington has a proposal to removeum president trp's star from the walk of me. they passed unanimously. they cited the cost of repeated vandismnd demonstrations around the star. formally requesting the chamber of commerce remove the star and they'll have the final >> aren't they the same cityci l that gave the key to the city to ttormy daniels. >>y did. but it's a symb it means nothing. it's not about politics. the walk of f has nothing to do with some sort of esteed pan. basically, somebody with money sponsors it, somebody said sponsor donald trump and there he is. >> probably donald trump. listen that city council has to show how woke they are jim and there's nothing moren woke tha it's beenone so many times. ar >> and theyebuild it regardless. >> anything you'd like to plug before wego. >> i have a booing, 372 facts about marianne williamson that may or may not be true. yo i gu one did it make the book. >> yes. jim lokay is not listed in the

our traders on the desk are tim seymour, brian kelly, dan nathan, guy adami.t was a friday fade, folks, wall street closing out a turbulent week in the red. what can you expect for your money in the week ahead? we will break out our crystal ball plus, hungry for opportunity investors continue to chow down on those food stocks, but will this bing session end badly. oh, nice, right? and it is mall madness time. we will break down a few retail names that should be on your shopping list ahead of their earnings a lot of earnings next week in that sector. but we begin with that wild week on wall street it all started with a monday market meltdown followed by a turnaround tuesday then more wild swings throughout the week, and in the end stocks closed out the week in the red so are the wild swings here to stay, wild swings, wild things if they are, what, guy, is an investor like me to do >> first of all, tyler, i hope you're here to say you will be here in the next hour, number one. >> wild swings. >> first, buy the trogs, one of the only things. you remember that? >>

our traders on the desk are tim seymour, brian kelly, dan nathan and steve grasso wall street wrapping up one wild week the nasdaq, the s&p handing in their worst weeks of the year while the dow just dodged that mark, but it has certainly been a roller coaster ride for your money after president trump turned up the volume on the trade war with china now that some steam has been let out of the record run, is now a good time to get in or, timmy, should you just get out? >> welcome you could call me orville if you want that's fine. welcome back. >> orville redenbacher bottom line, 350 bits at the lows today which are pulled back through the s&p. you traded through the 50, did things you are supposed to do, closed on a better level i will let the technical guys talk about the market levels a payroll number this morning showed a trend weaker in payroll. you had pmi all week to sell you the global manufacturing environment is in shambles you have a dynamic where i think corporate ceos -- if we had the trade rhetoric three weeks ago before we got into earnings season guidance i think would ha

. >> brian kelly. >> i think you could have a real disappointment with rates tomorrow tbt is your waypointment. >> chairwoman? >> i'm hoping that the bar is exceedingly low for foot locker. not only do they stumble over it but jump high over it. could go either way though i'm optimistic long, foot locker. >> dan nathan? >> retail was destroyed in the stock market, obviously walmart, target, home depot, a lot of inod stories, but a balance stk, including foot locker sell the xrt. >> is it the worst chart in the world? >> possibly. >> we'll see you back heem tomorrow for more "fast money" "mad money" with jim cramer starts right now >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job not just to entertain, but educate and teach you. so call me at 1-800-743-cnbc or

caught the show yesterday, you will remember we showed you this chart of the s&p 500 forming what brian kelly called a megaphone pattern. some are saying it is setting us up for a major drop. the next guest is in that camp svenn joins us from london we didn't have a technician to interpret the chart for us, but what did you see here? >> hi, melissa it is a broadening pattern we have been watching for quite a few months and it was interesting watching the lead-up to july. in july we had the anticipation with the fed rate cut, and the markets have been running in 2019 really from fed meeting to fed meeting, from fed speech to fed speech when the rate cut came, we tagged the bottom evenly for three weeks in a row and then we reversed, regarding as was said the trump tweet. we have a validation of the upper trend line obviously the question is can bulls get above that trend line. it is not necessarily a bearish pattern because if you can get above the trend line and rally on you can argue a massive rally coming the problem is -- and i am looking for validation here of some sort. is besides the me

tim seymour, brian kelly, and dan nathan coming up you'll hear from one long-term bull who says he is now the most bearish he has been in a very long time. also ahead a pulse check on the consumer, the three events coming down the pike that will tell us if the u.s. consumer is alive and well plus a call on bitcoin one wall street firm says the crypto currency is about to break out. the magic number they are putting on bitcoin right now but we begin with another tough day on wall street stocks hitting the skids as yields head south just adding to wall street's wall of worry wp goldman sachs, morgan stanley, ubs, bank of america all out with new notes raising the red flag on trade tensions hitting the market so what do we make of all this the sort of, i don't know, stuttering in the markets based on trade >> it's interesting that you're getting some of the macro folks around the street starting to become a little more concerned when in fact i do think that we've seen bond yields telling us something very dramatic 164 we closed on the 10-year dollar holding in. but i think the concern ar

your traders on the desk are tim seymour, brian kelly, steve grals o grasso and guy adami one strategist says the countdown to recession is officially on. he will layout the timeline and when he sees the markets up and out. box and williams-sonoma moving lower after reporting. later, a royal rally, how king dollar got a boost from the queen. we will explain with today's move higher, stocks surging with the dow gaining more than 250 points energy, consumer discretionary, industrials all leading the way, this as the yield on the 30-year bond hit an all-time low so do you trust today's market rally? guy adami? >> hi, mel no, i definitely don't trust it but i will say this. as we get into the later part of this week, into a holiday weekend, there's an old saying -- steve knows this on the floor -- never short a dull market you could see the market flowing through over the next couple of days into early next week. i will say it again. i think it will culminate on the down side when the vix trades up to 30. with that said, there are trading opportunities here i will do a power pitch in back en

tim seymour, brian kelly, karen finerman and guy adami a monday market meltdown as wall street hands in its worst day of the year the selling was widespread all 11 sectors finishing the day deep in the red led lower by technology the cause china. that nation effective i. weaponizing its currency sending the yuan lower, turning the the trade war into what many are considering right now a full-blown currency war. we've got full team coverage of this dramatic turn of events let's things off with bob pisani live on the floor of the new york stock exchange. hey, bob >> and melissa, we had a tough day here i want to give a sense of what happened last time china devalued its currency. this was about five years ago in august 2015. the last time china devalued its currency was in august 2015. that happened on three consecutive days of devaluations that was beginning on august 11th the market was very different back then. it was a different picture for the overall markets. china's currency was appreciating back then that's a big difference to now the stock market in china was just roaring it w

why some investors are turning these assets into a safe haven is brian kelly of digital assets and a> bite coin lover >> of course >> somewhat biass aed. never -- biased. never ask a barber if you need a haircut. >> when you see it in the middle east, oil prices go up there is a premium to that price. are we seeing a bitcoin premium in the price right now because of what is going on in hong kong plus devaluations? >> yeah, to an extent we r. so for the first time, i have been on this network since 2013 talking about bitcoin, every time somebody asked me whether or not bitcoin is treated as a macro-type asset until this year what we are seeing is macrofunds, traditional investors are treating it as a supplement to gold and using it as this kind of macrohedge. >> the correlation is sort of undeniable this is a step i pulled out yesterday. the bitcoin gold revelation has been .496. in the past three months, though, it's gone up to.827, applying a much tighter correlation between the two. you say it's too far to say bitcoin is a safe haven? >> i hate using the word safe haven with an ass

joining us now the founder and ceo of the points guy, the points guy, brian kelly.ight be traveling to florida with the hurricane. >> dorian is going to wreak havoc on the air travel system. major airlines haven't yet released waivers for florida which allows you to change your flight free of charge. if you're traveling, don't change it yet. i'm expecting today they should let the free cancellations. i would recommend avoid florida this weekend. we still don't really know but it's looking like a nasty storm. once the travel cans cancellatis start, you could get stuck there for days many i would probably avoid florida. dagen: give us places to visit. >> this weekend, there's so many good places. air fares to europe are really low. ism going to venice, italy, we booked last minute on points. air fares were the several you thousands of dollars. last minute they release safer reward availability. a bunch of my friends booked. we couldn't believe how cheap it was. within the u.s., new orleans, even though it's a little hot, is one of the cheapest airports in america. con

your traders on the desk are tim seymour, brian kelly, steve grals o grasso and guy adami one strategistwn to recession is officially on. he will layout the timeline and when he sees the markets up and out. box and williams-sonoma moving lower after reporting. later, a royal rally

our traders on the desk are tim seymour, brian kelly, dan nathan, guy adami.friday fade, folks, wall street closing out a turbulent week in the red. what can you expect for your money in the week ahead? we will break out our crystal ball plus, hungry for opportunity investors continue to chow down on those food stocks, but will this bing session end badly. oh, nice, right? and it is mall madness time. we will break down a few retail names that

our traders on the desk are tim seymour, brian kelly, dan nathan and steve grasso wall street wrapping week the nasdaq, the s&p handing in their worst weeks of the year while the dow just dodged that mark, but it has certainly been a roller coaster ride for your money after president trump turned up the volume on the trade war with china now that some steam has been let out of the record run, is now a good

traders on the desk, sincere, brian kelly, karen finerman and steve grasso a major market sell-off, stocksing as the president turns up the heat on the trade war with china, the president blasting china in a tweet at 10:59 a.m. eastern time. and look at the market reaction after that stocks plunged and never recovered. we finished the day near the lows of the session, all of this as fed chair jerome powell

tim seymour, brian kelly, and dan nathan coming up you'll hear from one long-term bull who says he is now the most bearish he has been in a very long time. also ahead a pulse check on the consumer, the three events coming down the pike that will tell us if the u.s. consumer is alive and well plus a call on bitcoin one wall street firm says the crypto currency is about to break out. the magic number they are putting on b

tim seymour, brian kelly, karen finerman and guy adami

leans in really close and says "by the way, you look great after leaving" he thinks and megyn kelly. >> briannderstand, they will say "you really aren't as dumb as everybody says you are." that i am not as bad as the guy on "snl," i guess that is a compliment. people never realize they are saying it. i remember i did something really embarrassing, i went up to someone using crutches and i go "what happened?" and they say "i'm handicapped." i thought they broke their leg, they were just unable to walk. you don't know what to say in that case. >> greg: that was really stupid, brian. >> emily: had somebody come up to me and say "you know you look just like that girl in "the five"?" and then he bought me a blizzard, it was a dairy queen in indiana. >> capri: the guy behind the bar at penn station recognized me. you are on tv, you are on fox, you are on "the five" ." i get "you look so much taller on television." i have to compensate somehow at this big mouth. >> greg: people come up and asked me when the next "ocean's eleven" is coming out. >> brian: clooney? >> greg: thanks for spelling it out.

army veteran and long-time minnesota officer chris kelly to run for omar's congressional seat in 2020. brian patriotism with your background in law enforcement and the military. but what caused you to jump in this mostly democratic district as an independent? >> well, steve, thanks for having me and i was inspired by the 9/11 comments. look, 3,000 americans died. and the first responders, many more first responders died responding to this. it is very dismissive and disrespectful. and i figure you can complain or you can try and do some things. so here is an opportunity to jump in the race. and try and make a difference. ainsley: chris, tell us about what the voters are like there? we have heard stories. we know ilhan omar is from that area. we now how progressive she is. we heard one of the city councils in your state decided not to say the pledge of allegiance, thankfully they reversed that what are the folks like there? >> well, it is heavily democratic area. however, that being said, i think the lack of action by congress person omar will allow me -- there will be a lot of disaffected dem

alix: that was part of my interview with brian gilvary, bp cfo. , j.p.with me, david kelly morgan assetement. in the internal dynamics, how do you see this playing out? david: i think the trade war ing ais hav detrimental effect. just changing plans. it is causing people to not follow through on plans. the response is, let's just wait and see. see,everyone just waits to that's when bad things happen. when you look more specifically at oil markets, i think the key issue is that because of u.s. shale production being very sensitive to prices, i don't think we are going to see a huge break out the upside or the downside. i think if you see enough downside pressure on oil prices, you will see shale production slow down, and that will begin to mop up some of the excess. alix: before remove more specifically to oil, just in industrial commodities, do you feel what they provide the same kind of bellwether for the economy they use to? is there some kind of money to be made in that? david: i think the global economy has evolved enough and have become complicated enough and changed its shape enou

general kelly has brought the numbers down to the meetings and you see it. we see it as members of press going into the room. brian long can you keep this : up? you said it is a young man's game. doug: it definitely is a young photographer's game. i'm probably, i don't know, i am 58 this year. i would like to do it until i am 65. if i stay in shape and stay healthy -- i am training right now for the olympics. they are coming up. i am training with a backpack on and 30 pounds on my back, walking the hills like i will be on the ice. brian by the time people see : this, the olympics may have been -- how long do they run? a month? doug: a month. i leave on february 3 and come back at the end of february. brian first of all, the audience : needs to know that your wife runs a radio station. -- runs our radio station. how old are your daughters now? doug: they are grown up. they are lovely young ladies now. they are 23 and 25. brian still not interested in : photography? doug: the younger one does. she has quite an instagram feed. she has two instagram feeds. the other is in pr and marketing. they love their jobs, they a

brian: look at the company's founders here with the best kevin kelly, founder of snake bite. i have been there. i have been sleeping in this. steve: tell us a little bit about this particular beer can opener. >> for sure flagship snake bite bottle opener. came up with that random night of hanging out with friends. bite the can of beer twice snake bite after our grandfathers. they would pour out smoother into a glass and also kind of a make your mark kind of thing. that's our slogan. katie: all of these have leather around them to keep it protected? key chain? >> yes. katie: this is the one you gave president trump. >> that's right with the 45 on the back. brass plated. katie: are all these customizable? >> they are. we have the ability to put any logo or artwork on the front of the leather, depending on your organization. brian: started in 2014, right? how have you grown. >> grown fantastically. we have another kick starter for our bartender tool three years after that. we got invited to the white house. i think things are going pretty well so far. katie: everything here is m

kelly, thank you. see you soon. >> when we come back, industrial giant honeywell under going major changes. we'll hear from the ceo. later brianoldner will join us first time cnbc interview, discuss the latest4 al $de and a lot more "squawk on the street" back after this r was losing my independence. mmm... good. so i've spent my life developing technology to help the visually impaired. we are so good. we built a guide that uses ibm watson... to help the blind. it is already working in cities like tokyo. my dream is to help millions more people like me. d if you are first it is already working stand up if you're a mother. if you are actively deployed, a veteran, or you're in a military family, please stand. i will tell you this, southern new hampshire university can change the whole trajectory of your life. our morgan brennan sat down with the ceo who tells her how its connected warehouses are a big factor and delivery experts like amazon listen. >> we love one-day delivery. we're big fans we love to get to one or two hours. our customers are pushing using to get better. much more what i call dark warehouse, less people footpr

brian moynihan later. those are your social climbers. caroline: thank you. let's switch gears a little bit ceo has been on the frontline of private equity for four decades now and sat down with jason kellyvate equities role in today's volatile markets. >> private equity can be a bit of a buffer during these periods. to be fair, private equity firms, virtually all of them, are foolhardy and do not say we will just by on a downturn. fact, one of the challenges that private equity has now to play that buffer role is it is harder now to deploy capital than it has been in a while. i say that because notwithstanding the chaos valuations in private equity transactions as you know have remained stubbornly high. they have been going over the last four or five years. you cannot reverse the laws of supply and demand. and with all of the money that has been raised, as you know, the phrase is this sort of dry powder available. and the animal instinct of good private acne firms to try to get it to work. the equity values or valuations have moved up and it is harder to put money to work. the only way you justify it is if it is not unbroken but this long-term trend up. and given the chaos in a number o