steve grasso, karen finerman, dan grasso and guy adami. >>> turns out size does matter for apple. we'll tell you why the lack of lines for the new iphone could spell trouble for apple's stunning rally. >>> later, worried about the feds next move next week? don't be because there's one trade that could work no matter what gelljanet yellen does. >>> the banks fell nearly 1%. deutsche bank leading the way lower and with the fed meeting next week and the government probe of wells fargo leading up, are financials a no touch heading into next week? dan, what do you say? >> it's not just what's going on with wells fargo and deutsche bank. you have two fed meetings. if we get a string of bad data, maybe it's jobs data, maybe it's manufacturing data, they may not go 50/50 in december and these banks need higher ranks for them to continue to go up. like you said, mel, they're down on the year. it's one of the worst performing s&p sectors. i don't see anything that compelling. i don't see interest rates ramping up between now and the end of the year at any time to make net interest margins t

grasso caught a great run on.his i think at 10 bucks, using 10 as your stop, looks interesting on a risk/reward basis. >> steve. >> electronic arts. battlefield won in october. it's right in the middle of take two, and active vision. up 22%. year-to-date, i think you still have room to run here. >> ghee. >> going to chipotle mexican grill. can you believe i just said that? i did. look at the way the stock traded to do. >> options action is right after this break. we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. [ yes. yes. ] uhhh, you're really getting the hang of this. anncr: want feedback that helps? verified reviews. another reason to join angie's list for free. this new ac guy is not that good. no he's not. anncr.: need a job done right? search

joining me right now is dick grasso.k, thank you very much for joining us. >> maria, i'm delighted to be with you. >> on such a tough day. >> it is a very difficult day for all-americans, and particularly for people who were in the zone when the attacks owe kurd. i just hope, you know, as we look back 15 years, i just hope many if not all of the 25,000 who walked out of those towers are today pausing to remember those who were running up the stairs. 343 firefighters whom we lost, 23 police officers, 37 port authority police officers who gave their lives so that 25,000 people could live. it was the worst of times for the country since pearl harbor and yet as americans always do, they rose to the occasion those firefighters and police officers. they had one thing in mind, saving lives, and boy did they do a good job. >> i remember sitting in your office at the end of the day digesting it, watching you lead what was then 5,000 people at the new york stock exchange. we didn't want to say too much on television. i remember yo

as we head into the close with just a little over 20 minutes left in the week, i'm here with steve grassoor of institutional sales. why is this market rallying? >> i don't know. it's the fed transparent, isn't it? >> i don't know. what is it saying about the cla? i feel like everyone thinks there's clarity and transparency and nobody has any clue what the fed will do. it's up because the market decided she's not going to raise rates. right? >> that's why the banks are hit? >> the banks were up earlier on in the week and then seeing them flatten a little bit. they rolled over a bit. you started to see gold rally and said that they were not going to raise rates. we got the number today which gave them a lot of wriggle room as to what they were going to do. i think they stay away. i thought there was a real shot at september and after seeing the way the markets reacted, this week, i don't think there's any shot they're going to raise. >> this is a bad news is good news kind of day then. bad news on the jobs market. good news that the fed's not going to move. >> yeah. i would guess that's the

the mayor, the governor, the firefighters, the police, dick grasso from the new york stock exchange,e led 5,000 people out of the new york stock exchange up north, told them to walk up near the east side drive, home safely. we're going to talk with him this morning, john. i'll be back at noon this morning talking live with dick grasso, the former chairman and ceo of the new york stock exchange, who on that dreadful day i spent so much time with and watched him stay calm in the face of evil. that's today at 12:00 p.m., john. >> we'll look forward to that. maria bartiromo, thank you. >>> family members of victims of the 2001 and 1993 attacks on the world trade center are gathering in lower manhattan right now. today's solemn ceremonies taking place at the 9/11 memorial plaza. our rick leventhal is in lower manhattan. he saw the attacks unfold 15 years ago as well. rick? >> reporter: john, before we get to that, i wanted to bring our viewers up to date on a story that is breaking right now that i just learned about within the last 15 or 20 minutes. as you know, there are many dignitarie

steve grasso, karen finerman, dan grasso and guy adami. >>> turns out size does matter for apple.e lack of lines for the new iphone could spell trouble for apple's stunning rally. >>> later, worried about the feds next move next week? don't be because there's one trade that could work no matter

grasso? >> reit came out of financials, they were roughly 18 to 20% of financials. if you look at the before, it's financials of friday and performance of reit from friday it's two times the performance. obviously they have a perfect storm. it was the fed-aided assisted rally. i still think it continues. >> how about you? you didn't like utilities. >> i think the reit moved very significantly, they can pull back a little bit. i do think they are more biased to the upside. i look at the rnc and say 1300 is a pretty decent move but could get there. >> what's your call on short term, on interest rates in the short term? the reit move was down to 84 on that index, totally in line with the ten-year movement from 1050 to 175. >> i think carter worth did a thing on this. the up trend line has been in place quite some time. in terms of yield, 170 in the ten-year had been resistance to the upside, stopped dead there. now i think the yield has moved back into the ten years, into the 140s, which coincides with another three or four handles for the tlc. >>> up next, bill flecke

steve grasso has been talking about that for quite some time. >>> still ahead, we will bring the other big headlines from the delivering alpha conference and how our traders are delivers those moves on fast. here's what else is coming up on "fast." >>> one of these photos was shot with the new iphone. can you tell the difference? if you can, it might explain why apple shares are surging. and our traders will tell you just how high they see it going, when "fast money" returns. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. morgan stanley. upgrade your phone system and learn how you could save at vonage.com/business >>> welcome back to "fast money." wells fargo plunging more than 3% after treasury secretary jack lew had this to say earlier inside cnbc's delivering alpha conference. >> this ought to be a moment when people stop and remember how dangerous the system i

it's interesting, steve grasso said the winner of last night's debate will eventually win the election. it interesting to see what he has to say in the aftermath. >> it is october 9th, the next presidential debate and then we're in the heart of earnings season and i think that is going to be the focus. those combinations -- if hillary just does what she did last night and trump doesn't do what he did last night, the combination probably works well. >> speaking of earnings, we haven't brought up earnings until five minutes into the show, that's going to be the next big thing that stocks have to contend with. take a look at all of the after hours movers here. they just reported they're all sinking in the after hours session. this is -- is this a precursor to what to expect from earnings season, and does it say anything about the consumer? >> i think it says something about the consumer. the one thing we all have to recognize on the desk is this rotation we're seeing in the marketplace right now. when i say the rotation, for a little while now, last month and a half or so since earnings s

so is steve grasso and jack checks in from chicagoland. steve, we were just talking. you didn't see any safe haven plays today that you might have anticipated given the bombings over the weekend being only 23 blocks from the exchange here. you didn't see the dollar rise. you didn't see a rush to treasuries. what do you make of that? >> unfortunately, it is a sad state of affairs that we are becoming a little bit used to these types of events. we don't have to tell the world we watched a couple of blocks away at 9/11 over 2,600 people lose their lives there, bill. unfortunately, the market maybe becomes a little bit used to this. there wasn't mass casualty. i think we are just looking at the fed and boj this week unfortunately. >> you were saying the same thing about how your attention is squarely focussed on the fed. is that true even if they do nothing and nothing comes of the meeting? >> i am thinking of bears and eagles. i don't think with the market tlz is much to focus on until we hear from the boj and fed. i would say the bojs remarks are much more important tha

. >> i am here with steve grasso. how would you describe what is happening in the market today?> we have had a couple of things going on. you look at the iea. that put the nail in the coffin for the bulls today. >> saying demand would be weaker. >> if you talk about when they change their supply glut or when they extend or change their focus going out to 2017 saying there is going to be a supply glut, there is nothing bullish about that. growth engines what do we point to? china and india. >> you not going to take a picture so much about rising bond yields? >> they are all related. demand is so weak why are bond yields going up? >> bond yields are not relate today the energy move today per se but go back a couple of days that is related to the fed. we are still in the dynamic of the fed. fed is still the overarching reason for the market moves. today on a stock specific day on a market specific day i think it is all about crude. no growth, supply glut, nothing really excited to look at. >> real quick s&p 500 is about 2,128. what level is important? >> 2134 is the old high. from

steve grasso will join us in a moment. mike, the nasdaq at it again. >> yeah.ad market playing into a tie again today but nasdaq and just sort of the growth names, really a lot of companies specific drivers. and so you did see that rotation yesterday beginning with some of that grabbing for some of the large cap growth. i also think the transports today were an interesting move. airlines driving that. again, conference season. companies giving outlooks. that is one of the per pellants so to speak. but more broadly speaking, i that i we've been neutral for so long in terms of this trend, we almost stopped talking about how common market is. >> and transports with a nice session. up 105 point. delta, american, united, oh, and apple launched new product too. >> i think we heard a couple of things about that. it is amazing with the fed beige book coming out and some of the data we are seeing. obviously giving many more people pause in terms of whether there will be a september rate hike. we know that i thought that that was off the table but goldman was very bullis

your comments and part of the interview and grasso is ready set go on his way uptown to the nasdaq marketite. you can catch him on fast money. roger mcnamee. will he bring his band with him. he weighs in on samsung's exploding battery woes and whether bad headlines can mean good news for apple. >>> the consumer financial protection bureau slapping wells fargo with a $100 million fine after employees opened up millions of unauthorized accounts. cfpb director richard cordray discusses whether other banks are doing the same thing and why the executive in charge was able to walk away with a massive pay day. >>> investors beware. we will hear from somebody who will name what he calls the three most dangerous stocks in the market right now. you don't want to miss those names coming up. you are watching cnbc, first in business world wide. hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to

we have steve grasso here from stewart frankel and our own rick f fratelli out of san francisco. maybe 3% pullback in the s&p like we've had may not necessarily seem like a great buying opportunity, but is it one, potentially, and maybe if you could lock in one of those dividend deals now that the sector has sold off. >> that's not one of our favorite places after going for the dividend yield. i could opine on that forever, but i'm not going to. i think you can't look at the market per se before you're going to buy a stock. i think if you look at your portfolio stock by stock and say, do i want to own this company for three to five years, do i think this company is going to be better in three to five years, and is this a price i can live with? that's what you should do on these down days, not necessarily look at the market and say, yeah, let's buy everything. >> you know, kim, one of the hidden risks, i wonder, does it actually lie in the dividend sector in these places that are so-called safe where so many people have been looking for yields? >> absolutely. i can't iterate this

just getting a history lesson from professor steve grasso here.re reminding me of what the boj did the last time they met in july. >> they disappointed. everyone is worried that they will disappoint again. if you look at what happened to rates, rates went up. if you look at the ten year it went up. if you look at what happened to theirs, are they going to disappoint again? >> a lot of people have been pointing to the fact that rates have been going up anyway that maybe the bond market started to do the fed's work for them. >> everyone has put in that as injected politics. i believe there is a certain aspect of it. it is not the only aspect. i don't think they want to rock the boat. i think the market would be off sides if they raise in september. that is why traders don't -- >> you don't think it happens tomorrow? >> i have been on the record for months thinking that they are not going to do it. i can see why they want to get one off. we are rounding a year now. december was the last one. they have to do something but i think it is more like labac

joining me is keith grasso from stewart frankel.market continues, not even an ecb meeting or a pop in oil can move this. you have a theory, or one you've heard, that there's a lot of optio options hedging going on. and does that explain why the vix has remained stubbornly low at the same time? >> i think so. people are hedged out so properly or so much so that the markets stay flat. so there's not that need for volatility, or it squashes that volatility that we're often you'd to, in the market. but that, too, might come to an end, eventually. >> by what catalyst? what are we waiting for? >> i think you have to get somebody off sides. you have to get some type of a news event. maybe it is the fed, but i think to the point, we already know that. we already know about europe. we already know about the fed. so it has to be something that shocks the market. sort of like the ebola crisis. sort of like an unforeseeable event, which if i could tell you that and they could tell you that, it wouldn't be unforeseeable, but all of those people