and here to explain why is erin gibbs. in good to see you. >> good to see you. >> people have been asking why did this happen? and there are a b in of reasons? >> yeah, and europe has been down for weeks, and that has a lot to do with the ukraine crisis as well. so there are so many reasons, but the biggest catalyst is the fed. >> all right. we got a report today the employment cost index. it's interesting to some people. the cost of employment has gone up a little bit. that doesn't jive with what my viewers think about wages. >> yes, we have been con enthly seeing about 2% wage growth. but what we're really concerned about is if it goes above 2% growth. yellen and the fed has v been looking for 3% to be a sign of healthy inflation. >> right. >> and that's what we're really looking for tomorrow is to see if we start seeing wage growth above 2%. >> we have overcapacity in the labor market. and another way to say that is that a lot of people are unemployed and under employmented. and until that picks up, we're not likely to s

after all, aaron begins gibbs is with s&p capital iq and joins us now. erinso nice to have you with us. >> thank you. >> it looks like the s&p 500 index is on track for its best august since the year 2000. so 14 years. how do you see things going between now and the end of the year? the s&p is now at 2000. do you see it going higher, down or staying the same? >> i really expect it to about stay the same for the rest of the year. it's somewhat dependent on the federal reserve. if -- right now, wall street is expecting the federal reserve to raise rates around the second quarter of next year. if they decide to -- or indicate they're going to raise rates earlier in 2015, we could see a bit of a correction starting at the end of this year. >> because that is the question that a lot of people are wondering, now that it's gotten this high. is it time, you know, that we're going to see a correction. what are the chances of that happening, do you think? >> again, it's really dependent on the federal reserve. and, again, that's dependent on wage growth and indications

let's welcome in our guest rich ross, erin gibbs. rich, this has been not a momentum stock necessarily but it's a trader favorite in its space, how do the technicals look on monster? >> i'm not a big fan of the stock. i would not hold it going into earnings. now, you can see on a year to date basis, a lot of volatility here, but we have gone nowhere on the year to date basis. we have remain there for the better part of the last two weeks. but perhaps more importantly, brian, is this bearish complex head and shoulders top, just a distributive pattern comprised of two smaller head and shoulders. when zoom out, while we're clinging to key support at the neckline of that pattern, better support lies below that moving average. you can see that well-defined top. we're clinging to that tread line, that uptrend if you will. but i think the earnings could be the catalyst for a downside break here. once again, i think there's better support around $59. i wouldn't own it right in here. i don't like the stock. >> you don't like the stock. erin,

join me, yelan moy from the "washington post," erin gibbs, and kayla tausche. h us is "fast money" trader tim seymour. as i mentioned, dom is here as well. erin, first question, kind of d dom's point here, what does s&p 2,000 ultimately mean? >> you know, for us, i think we could definitely see some consolidation. we still see positives-negatives coming out of economic news. you see one good thing, and then like we had great existing home sales and then really bad new home sales. it's sort of that back-and-forth. another thing is, there really is psychology around these big numbers. when the s&p crossed the 100 and the 1,000 mark, they actually crossed four to seven times and took over a decade to finally move away. tie don't think that's going to be the case in this period when it crossed 1,500 or 500, it was more like quick touches and then keep bouncing off. i think that's more likely what we will see. >> yeah, i love that chart that goes back to 1995 showing sort of the peaks and troughs. i wonder how it would look overlaid over the size of the u.s. economy.

tonight from aig, the insurance giant, and that stock has been up 1% at $52.60, which brings us to erin gibbsexpecting from aig right now? >> we're looking for decent numbers overall. the financials have been lagging overall across the market, so we're still expecting a market perform, but overall, financials are doing much better. and those rising interest rates -- >> well, that's the thing is interest rates are not rising all that much. you know, the ten-year's still hovering around 2.50 below and that's got to put a crimp around guys who need a steeper yield curve. >> we expect rates to rise at the end of q-1 or q-2. now, the markets trades earlier than that, so by the end of the year, we expect that pop. we hope that the rates increase much more slowly but steadily, because we are still seeing a lot of the subpar recovery indications. we don't want it to go up really fast, so we expect financials to putter along. >> did you notice regional banks have been down for days. they're down again today, regents financial, snoevis -- >> they've been the darlings for a while. >> and they haven't go