our traders tonight are tim seymour, steve grasso, brian kelly, and guy adami. here's what's coming up on "fast." bailing on apple for now. one of our traders dropping the stock from his portfolio. he will explain why coming up. and while many investors are focusing on europe there's some under the radar action in south america that you should be watching. we'll tell you what it is and how to play it. we start out with a big move in the markets today. stocks coming back after a big sell-off spurred by the stronger dollar and falling oil prices. now the street is looking to see what the federal reserve will do next week. now, a lot has changed since the last meeting started on january 27th. the s&p and oil around the same levels but the dollar is up 6% against the euro since then. ten-year treasury yield has jumped to 2.1%. it was 1.8 in january. guy adami, the world has changed. >> that's the most important thing right there. you just mentioned yields. i would have thought if you'd said what's going to happen in the s&p today big sell-off, what's going to happen

steve grasso?real fight to see where you make money in energy in this space and there's been a limited places you can do it in. refiners have been the shining spot. i think that's going to peter out for a bit. go to the service names. go to halliburton. >> dan nathan? >> earlier i mentioned xlp. the leadership in that etf, the highest weighted names don't act well. if you want to short stocks in this market, you want to short weakness and that's where you go. i'm long puts in the xlp. >> which stocks in the xlp do you dislike the most? >> procter, coke, walmart. >> wow, that was fast. >> sharon? >> yes, so we've seen a little bit of a rebound in equipment rental space, another name is manitowoc, doing a spin of their food service business. i like it, i like the food service business, and if we do see a bottoming out here, i think it's good to run for a while. >> guy adami? >> can i say i miss dan nathan. he's been away. >> he's all tanned and relaxed. >> relaxed. >> and steve grasso, he's handsome.

that's why the volatility is back. >> steve grasso, joe raises a go ahead point.ou will have a big-time debate between now certainly next week when the fed meets and beyond on whether they should remove patient from the statement, whether they should move in june relative to where the dollar continues to go on an almost daily basis and the signal the stock market has sent to everyone on the fed of how it might react if they move? >> yeah but, you know, it really doesn't matter at this point. they know they have to move at a certain point. the language i think the market is digesting, joe is right, rotating but seems like they're rotating out of stocks into cash right now. we haven't seen that in the longest time with the s&p. i guess it's important to look at this chart right here, see, this is a sell-off that everyone was planning for. >> yeah. >> it took us about two years to get here to test that 200-day moving average. so this is the left shoulder. if you're a technician, this is your left shoulder. this is your head right here. i'm going to do it this way so

pete najarian, dan nathan, karn finerman and dan grasso. you heard all the rumors that the apple watch may be a massive failure. survey results that back up those claims. that's ahead. plus biotech's orrexgen and tomorrow could be a huge day with the bce and stress stests on tap. we'll hear from one guest who says the euro could drop another 20% against the u.s. dollar. we start off with bank of america, down 11% year to date underperforming the broadcaster sector with some saying tomorrow could be a make-or-break moment for upper management at bac. karen, what do you think? >> well, it could or it could not be, and then we get the stress test tomorrow, but we don't get crar until the 11th if the stress test doesn't have an outlier result to it. >> whatever it is, the result or results six days later, grasso. >> citi and jpmorgan have been outperformers in this market so from late january, early february, they are both up approximately 15%. goldman sachs up 9% and bank of america up 4%. these are the names that obviously the market has plac

steve grasso, brian kelly, and guy adami. shares are falling. we've got someone who says the stock is still a buy. and pollo loco shares coming upping in the after hours after the company delivered a strong revenue number. we'll debate your best bet in the restaurant space coming up. >>> but we start off with today's rally. a weaker dollar, stronger euro, helping push stocks higher. but currency fears still sparking some on wall street. raymond james downgraded garmin because of currency conditions. and intel cited the currency move when it cut its outlook. seems like we're not out of the woods yet, guy. despite this rally. >> we're not out of the woods. the dollar is going to parity, if not lower against the euro. dollar strength continues. today made sense i guess if you think about it with the retail sales. does that put the fed back on the back burner in terms of a rate hike? i think it does. weakness in the dollar all makes sense. that said, i still think rates are headed a lot lower. i still think the european rates are telling you somethi

>> well, the grasso chart maks s me want to get the bear suit out of the cleaners.ctors with greece coming out over the weekend, and the jobless claims coming out on the friday. >> and you mean the jobs report. >> payroll report comes out on a friday when the market is not open, and a lot of concern out there, and protect yourself over the next week. >> dan? >> looking out further, and the next fed meeting is june 17th towards the back half or the end of the quarter, and given yellen's comments today, this is something to heat up if we continue to get the decent data here in the u.s., we may be looking at the fed rate increase as soon as september, and the market is going to be anticipating that ahead of time, and we could see some volatility. >> and yes, we heard from janet yellen, guy, unusually on a friday the afternoon. >> yes, and again, she is trying to the sound hawkish, but they don't have any shot of raising the rates, so it does not matter, because the bond market is speaking for itself. the risk factors are the rates continuing to go lower, and another le

i jump in here now. >> grasso? >> ditto. just kidding.n qualcomm, but the internet of things, everyone thinks that qualcomm will be the ultimate winner there. i think intel is going to come on strong. obviously, the biggest revenue source for them is pcs. that's a problem for them. but technically, great entry spots. it's already closed that gap from that downdraft in october. i would be a buyer of intel. too many head winds in china for qualcomm, still even though they settled. >> let's go to dan? >> i'm going to go with qualcomm right here. we know the news in intel. and what i frankly don't like about intel is how pc-centric it is. i think next month if this samsung galaxy 6 comes out and their snapdragon is in it, that will be a good thing. i like that 2.75% div. not a great entry. the stock does not act well after that announcement here. so i think if you get a weak market in the next couple weeks, pick it up somewhere in the mid- to high 60s. >> nice using the 30 seconds. >> karen? >> yes? intel. not surprisingly, the valuation is w

i agree with grasso where people start making bets that the run is over. commodities should go higher. >> give me equity plays. >> in the short-term, conoco phillips. we have not seen a lot of these names pop up in our systems. we had a lot of the airlines trade. now today suddenly out of nowhere we see some conoco phillips buying out there. maybe these integrated names short-term have a chance -- >> meaning what? >> i'm talking like weeks at the most. not months, weeks. >> all right. lululemon taking a hit after an analyst cut his price on the yoga wear stock. we'll debate it. and pit boss sees a lot of weird things during the trading day. he'll tell us the most unusual activity he spotted in today's trading. and a documentary bully. catching the eyes on wall street. we've got debate between the film maker and executive on yelp coming up on "fast." >> they would say things like they would help us manage our reviews. >> they call a couple of times and we told them no. probably six, seven hours later, three or four of my good reviews were gone and two other

let me bring strefeve grasso into the conversation.d does something and markets react, that might tell us the next paradigm trade for a little while. do you think that's what we're seeing or no? >> i think this is going to be an unwind of a trade we've most recently seen. i know larry in his career always loves a strong dollar and he's not a day trader as he just said, but i think if you look at it going forward, this is not a good thing for the united states economy, it's not a good thing for the markets. the s&p will get hit with a huge headwind. >> no. >> we have to keep the euro/dollar up while we have this conversation. >> why were forecasts coming in? because of the strong dollar. so we take a minimalistic hiatus from that but your good friend and mine michael pento was afraid of the inverted yield curve. the fed is afraid. that's what's going on here. >> i'm not worried about an inverted yield curve. >> why? >> because the fed isn't going to tighten. every recession in the united states since world war ii has been preceded by an

pete najarian dan nathan karn finerman and dan grasso.he apple watch may be a massive failure. survey results that back up those claims. that's ahead. plus biotech's orrexgen and tomorrow could be a huge day with the bce and stress stests on tap. we'll hear from one guest who says the euro could drop another 20% against the u.s. dollar.

. >> steve grasso joining us from the floor of the new york stock exchange. want to weigh in on this discussion, not only why you think the market's reacting the way it is today, but some of the points that adam just made? >> yeah, adam always makes a very clear cut case for whatever direction he is in the marketplace. and it makes a very convincing one -- make a convincing one. but the truth is, if you look at it today, i'm a short-term trader, so you have to look at where we're at today. volumes are light. you just said it before, 1% or so from all-time highs. for the average investor, let this shake out. you have professionals that don't know where the market's going and they'll be the first to tell you that, but as far as the dollar, i don't think the market could take the headwind from a higher dollar just yet. >> yeah, you guys are much better at that. our portfolio is about 45% per year turnover. i think in that context, it looks a little different. >> so you say 2275 is your base case for the s&p. >> yeah, for year end. >> but man, do you have a big-t

let's start with senator grasso. >> thank you very much. it gives me great pleasure to bring greeting from the committee to one of our, those witnesses this morning which is todd parfitt who is the director of the wyoming department of equality. he has a long history of working in wyoming and specifically working in this department. you'll remember mr. chairman our former wyoming department of environmental quality spoke here testified a number of years ago. todd has worked closely with him and has succeeded with him and is now our director. it's interesting mr. chairman, because today as todd was the he will have worked with the democrat governor and a republican governor in wyoming and as always has put wyoming first, has done what's best for our state and our environment and it's privilege for me to introduce one of those testifying director of the department of environmental quality for wyoming todd parfitt. thank you. >> thank you senator grasso. anyone else here for introductory purposes? we'll go ahead and start with our testimony. w

councilman david grasso calls the denial disturbing and says, quote, if you live east of 16th street,nessed a jumpout or the aftermath of such in your neighborhood. the practice is still taking place now. we cannot turn a blind eye. he calls it detrimental to our community. according to the aclu, if a police officer does in fact pull you over or stop you on the street for reasonable sus spix -- suspicion. they must make it clear for why they're stopping you and shouldn't continue for more than ten minutes and paperwork should be filed. the debate will take place at the wilson building here at 9:30. back to you in the studio. >> thank you, delia. >>> a new bill being debated in maryland general assembly could change the way sexual assaults are reported on college campuses. >> this afternoon prince george's county state's attorney angela alsobrooks will testify in support of the measure. nikki burdine is live in annapolis with a preview. just how prevalent are these sexual soughts on campus? >> reporter: according to statistics from the white house, we know that they have released these

steve grasso is joining us off the floor.that's not necessarily the mentality that played out today though. that was a pretty ugly close. what was behind it? >> you know kelly, you and i spoke from this very spot last week and we talked about the significance of that 2093 level in the s&p cash. those were the old highs. we were really bordering on the support lower for the old s&p's highs. we broke those. so the market broke down. what happens now is guys are reassessing. is the energy bottom in? no. is the dollar high in? no. if you scale back that dollar chart, sara eisen knows this better than anybody -- >> she has a tattoo of it. >> if you look it short term it looks like it's topping out. long term more room to climb. >> what does that mean for the constellation of assets that depend on it. >> that's the problem and that's the worry and that's what spooked investors. you still have 40% of corporate earnings coming from overseas. i was going to say people say it's not that bad for america, we only export 13% of our econom

director at virtus investment partners jon and pete najarian co-founders of optionmonster, steve grassol on the floor of the new york stock exchange for us and jason brady with us today, the head of fixed income at thornburg investments. so much to talk about today. our game plan looks like this. euro crash, how low

but -- >> grasso on wednesday did this and this and we're continuing to go up and down. >> another chart, put up another chart. >> hang on. go ahead. >> put up another chart which baker hughes put out i think we have, take a look at this, at the rig count on the blue line just crashing. look at the millions of barrels a day in production still going up. you haven't seen the cutback in production filtered through the market. i'm not sure i agree with the story on storage that fears are overblown. they're legit right now. >> kenny, the twice make a good point as the market in october was driven sharply lower by crude falling out of bed, here you have a market driven by the euro falling out of bed. in october a tremendous buying opportunity. >> right. >> is it today? >> i think that's exactly what you're going to see and why i said the 200 is a place where it feels like the market wants to go and if it gets there i would fully suspect that's where you're going to find the real buyers. everything we're talking about is true but none of it is new. we know about the oversupply, we've' been tal

senator grasso would be next but he's graciously let the senator go ahead of him. >> following up on senator markley's question do you feel like individuals should be able to sue you for noncliens? >> under the clean air act, citizens have the ability to sue epa or indirectly the state for noncompliance with any el gant of a sift. we are in compliance with our plan. we are moving forward steadily every year bringing down our levels of ozone and we actually come into compliance in many counties. >> if you're doing things required by law, then you shouldn't be sued. >> it helps us with our ozone standard, as well. we need all the help we can get. >> but in regard to the question, you agree with ms. nowak in the sense that if you're in cliens then you shouldn't be sued. >> there's no way that you're going to be -- when do you feel like you're going to be ozone compliant? >> at this point, we're projecting off into the future. it will be as challenging if not more challenging to meet the ozone stand aurd as it is to meet the greenhouse gas standard. i can't verify the number. i would say

kevin o'leary and steve grasso this hour. edge making its debut on the nasdaq today. guy sella. and saudi arabia launching strikes into yemen. that's driving the price of oil. and how it might change the entire picture for oil. >>> why would the co-pilot of a tragic germanwings flight intentionally crash his plane? investigators are trying to determine his motive on the "closing bell". stay with us. i mean, come on. national gives me the control to choose any car in the aisle i want. i could choose you... or i could choose her if i like her more. and i do. oh, the silent treatment. real mature. so you wanna get out of here? go national. go like a pro. the future of the market is never clear. but at t. rowe price we can help guide your retirement savings. our experience is one reason 100% of our retirement funds beat their 10-year lipper averages. so wherever your long-term goals take you we can help you feel confident. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and

steve grasso brian kelly, and guy adami. shares are falling.e stock is still a buy. and pollo loco shares coming upping in the after hours after the company delivered a strong revenue number. we'll debate your best bet in the restaurant space coming up. >>> but we start off with today's rally. a weaker dollar stronger euro, helping push stocks higher. but currency fears still sparking some on wall street. raymond james downgraded garmin because of currency conditions. and intel cited the currency move when it cut its ou

our traders tonight are tim seymour, steve grasso brian kelly, and guy adami.iling on apple for now. one of our traders dropping the stock from his portfolio. he will explain why coming up. and while many investors are focusing on europe there's some under the radar action in south america that you should be watching. we'll tell you what it is and how to play it. we start out with a big move in the markets today. stocks coming back after a big sell-off spurred by the stronger dollar and falling oil prices. now the street is looking to see what the federal reserve will do next week. now, a lot has changed since the last meeting started on january 27th. the s&p and oil around the same