. >> grasso. >> i know people have gone broke buying the retail. i'm long jc penney got longer around the 3.5 dollar mark we've seen retail start to bounce sideways to higher. i think you stay in the retail trade. whether it's xrt to mute your risk out >> tim makes a dpraet point about copper this has been moving and to me, this is the risk in the market because we're seeing rateses that are low you're seeing a massive divergen divergence the ten-year versus copper they generally follow each other except for now either copper is going to come crashing down. people are going to go, oh, no, he's telling us the economy is slowing down or rates are going to rise. if you get rising rates, not talking rapidly rising north of 3% on the ten-year in this environment, 21 types pe, not supportive >> buying some financials still. picking away at different names. jpmorgan, i like and bio and tech and the fang names. >> okay. coming up, hurricane harvey. quickly approaching land fall in texas. now, a category 3 storm. we'll bring you the latest on everything you

maybe more says steve grasso coming up, the new iphone launch the rumors are swirling. down fact and fiction right after this break traders are betting the run is about to come to a screeching lt we've got the details. much more fast right after this. whoooo. looking for a hotel that fits... ...your budget? tripadvisor now searches over... ...200 sites to find you the... ...hotel you want at the lowest price. grazi, gino! find a price that fits. tripadvisor. track your pack. set a curfew, or two. make dinner-time device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. introducing xfinity xfi. amazing speed, coverage and control. change the way you wifi. xfinity. the future of awesome. >>> welcome back to "fast money. apple setting a date for the highly anticipated iphone launch let's get to josh lipton in san francisco with more. >> melissa, mark your calendars. apple's big event will take place on september 12th, starting at 10:00 a.m. pacific the invite reads, let's meet at our place. please join us for the first ever event at the steve jo

grasso >> no, i don't think it's different. we've seen this before we've seen support levels come in i think that the biggest risk basically to the market what is his rhetoric we've seen that be just rhetoric, not action i don't think anyone thinks that professionals, don't think that we're going to war and i think the fact that china and russia -- >> professional whats? >> military experts. i wouldn't put any stock on the desk as to whether we're going to war, but if you have china and russia going out against us, you've seen them behind us, that is what makes me feel more optic and think it's more of a buying opportunity versus anything. >> yeah, i think as steve points out, he's had an opportunity to buy any of this. we haven't really had a north korea es calation before of thi magnitude because of the players involved there's tno question it's a con back to markets and what is this going to do to your position in apple. nothing. i don't think this is going to change the spectrum of both worlds, if you think china gets pulle

traders on the desk tonight, pete najarian, tim seymour, steve grasso, guy adami. energy stocks sinking again today, on pace for the worse month since december of 20 is15 as a group down 18% this year. with venezuela's problems heating up, are oil stocks finally a reel bual buy >>> plus, chinese tech stocks are soaring, play the ultimate game of investing would you rather >>> you may have heard about this eclipse. >> no, what happened today, brian? >> amazing americans across the nation now comes the hard part. the trips home and the cleanup we'll show you some of the aftermath. so much to do. let us begin with your money it was a mixed monday for the market the dow and the s&p finishing fractionally higher. the nasdaq slipped just a skosh, i believe they call it in minnesota. >> you betcha. >> if we stay weak, guy adami, is it a buy the dip market >> we stay weak. i would push back and say today was an encouraging day by the way, great having you onboard, great to have you here. thanks for helping out. >> established that earlier. >> we talked about 2410 being an

what do we do today, grasso? >> first of all, i'm still long cars -- we didn't do -- >> avis. >> long all my home builders i did not sell them. a lot of price action recently has made me think this housing recovery, i don't know if i should hole on to them as deep as i'm in. >> carter, we could -- i'm not going to bring him back. >> for your own good. >> he may very well be right i look at intel, topped out at $38 at the end of 2014, topped out that same price beginning of this year, i, me, g-swizzle, than to hope it's going to break out of current levels. >>> all right. coming up, forget mega cap tech stocks we've been talking about. a number of tech darlings from the dotcom era. >>> plus cbs moving slightly higher after its earnings report we'll hear from the ceo on what drove the quarter and what that could mean for disney shareholders. >>> bitcoin rallying above 3,300 for the first time ever. what's behind the move is there still time to buy our resident bitcoin expert, b.k., brian kelly, will break it all do

>> grasso? >> i've been an amazon bull.e aa i'd rather be amazon or alibaba. >> here's the interesting one because you made a good case or amazon moments ago. >> to potentially retest that level. >> so right now, walmart or o amazon. >> if i'm willing to bet 4% on the downside, i would say amazon it flies in the face of what i just said, but i think walmart might be banging up the top end of a multiple, multiple in terms of their stock >> i feel like you would say walmart. >> actually, i'm leaning towards amazon just because at this point in time, but i'll throw in the kicker i'll take amazon, i'll take best buy. i'll shoot off walmart >> bonus >> you can do anything you want to do. >> coming up, viacom reporting earnings moments ago the stock is falling afterhours, ceo making shocking comments we'll tell you what they are, next, plus, the biggest bull on wall street says just keep buying mike wilson will be here to tell us why he sees stocks rallying and what he's buying right now and later, gu

grasso would know what that level is, that record, but we'll goat that in a few minutes we're about a point away. >> thank you >> you're welcome. >> coming right up, apple has certainly been a big catalyst in the dow's rally this year, but can it last? coming up, we debate whether you should buy or sell this hot stock ahead of its earnings report which is due out today after the close. i love it when i get to be here for apple. >> you're here every time we do apple earnings just works out that way. >> and president trump is set to host a small business event at the white house called small business, the engine of the american dream as son as it gets underway we'll take you there briefly live. what the president has to say on what has turned out to be another newsy day. >> the dow is inching ever closing to that 22,000 25 points away bob pisani in the middle of the action on what's driving it. bob? >> the good news is the dow is on fire. the bad news is the advances kind of narrow we're essentially at 22,000. let's not quibble, 21,000 first back in march. what made 19,000 points what,

. >> grasso? i look it's up 15% year-to-date if i'm looking -- you would agree there's binary risk with buying a pharma stock especially one like the stock you just pitched. would you >> look that's my point. the binary risk is basically priced in. when i say to you it's trading at 40% discount to its comparable peers and a pipeline that's super underappreciated you're basically pricing in that risk in my opinion your down side risk is 70 bucks and the stock could work well. >> the misunderstood part. let's vote you guys buying or selling >> i'll say, okay i'll buy we'll say buy it but use a 50 day moving stock 71.75. >> b.k.? >> a certainly are of two things one the pen they gave me to write this with. but i'm also a seller of abbvie. looks like a false break out >> i'm a certainly i thought that was a great present jays if that stock was trading around 60, 65 bucks i would say back up the truck, the yield higher, but i got to tell you your buy was half a percent stock >> it was like a friendly -

. >> i want to know p we need to stage an interveengs for grasso in terms of his large position on avisyour opinion on the rental company? >> we're underweight about 50% downside i will admit though that that view is probably now quite consentual it's kind of easy to pick up the car rental names when uberization. >> if used car prices don't come in 20 to 50%, if they doebt come in that drastic and they come in more in line with the great recession, only gave 10%, will the recession before that, only a%, if they only come in 5 or 10% -- >> then as you say, the wind to your sails our view is that the technology is changing so fast in terms of the kind of car you're going to be buying. we think this accelerated obsolescen obsolescence, the average car on the road is 11.5 years old one-third of cars have a cassette tape deck >> i agree with the premise. he's looking at you. >> got an eight track. gl i think it's a bigger problem for a ford or gm >> it's a problem for the customer left to your point with that upside down on their auto line negative five, 3 or $5,000 equity as that starts to

>> well, what do you think, steve grasso then what? and what role do you think the bond market could play in the future of the stock market here. i mean, the bond market has been moribund for a while even as stocks have marched higher. >> to sum that up pretty well on the bond side, we leave that to central banks and what in fact miss yellen will do and that will affect the bond market. the dollar doesn't know what she's going to do. the dollar rallied up right after the election and president trump talked that dollar down based on china, his comments with china dollar settled in, but then it legged back down again when we couldn't decide what the fomc was going to do. i'll leave the bond side to rick i'll tell you the equity side. we grind higher hand continue to grind higher thereto he's no reason for us to sell off right now earnings have been great the follow through has been lackluster on the certain sectors in the economy, but nonetheless the economy still moves along, chugs along and takes the equity market with it. >> michael,

working again as a paramedic and now dating a new woman he'd fallen for quickly on match.com, kat del grasso. >> we started texting and then we made a date, and we went on a date. really that was it. >> it was instant? >> instant. instant. >> what was the attraction? >> i don't know. it's really hard to put your finger on something like that. we just seemed to have an immediate connection. there was zero stress talking. no uncomfortableness. >> reporter: their romance blossomed, and she eventually moved in with paul and his kids. >> do they look up to him? >> they worship him. they completely worship him. he's always up with them, checking homework. we do a lot of things as a family. >> is it a nice life? >> mm-hmm. we were really happy. really, really happy. >> and then you get a knock at the door. >> yep. yeah. that was a tough day. >> reporter: it was an early morning in september 2012. four years after catherine's death. >> i was asleep. i just got off of work. i worked 12 hours at the hospital. and i remember my girlfriend comes in and she goes, there's something fishy going on outside.

. >> closing bell exchange, peter anderson and steve grasso and jack, i want to start you.e've got a very nice rally in the equity markets also got a soft dollar is that a driving force behind the equity market rall re, do you think? >> wilfred it has been for the past seven months. talking to european portfolio managers, they will tell you they are under water the s&p might have been up 9% or 0% and the dollar is down that much before we go pat pentagon ourselves on the back and be all nice and happy about what's going on here, let keep in mind that a lot of it has been because of this deteriorating currencies weak currencies weaken nations so we have to be very, very careful and unless you think that the market will go down against the euro currency, it might be a bumpy road ahead of us for stocks over the next couple of months. >> steve grasso, sitting over there at post nine, i know you've got fresh eyes off your vacation do you see anything in this market, you know, from a different perspective now? >> well, when you look at what we sold off on, i think that was an ove

tim's been on it for a long time and grasso, too. >> i was concerned going into this number.been a more volatile one. their service is a great core business it was an obvious place for them to make money, but it's nice to see core business is outpacing this is a company that the valuation, it is tough to make a call on it >> back to tesla pretty much at after hours session highs. higher by 7.4% phil has been monitoring the earnings which got underway late what did elon musk have to say >> just start tog talk now and primarily, his xhaecomments are regard to the model 3 production the rave reviews regarding the model 3 and when you look at it, there's been some questions. people have said what did they say about production they reaffirmed production guidance 1500 in the third quarter. 5,000 per week by the end of 2017 then 10,000 per week. tesla continues to work on it, they are spending more capital expenditures will go up by about $2 billion. talking about the model 3 and where the company stands >> what people should have zero concern about is zero. is that tesla will achie

traders, tim seymour, david seaburg, steve grasso, guy adami. the destruction of hurricane harvey continues to unravel. texas deals with massive flooding and more rainfall expected in the next couple days we just heard the president addressing the nationwide effort of are rescue and relief in the state of texas brian sullivan on the ground in galveston, texas, monitoring the impact of the emergency ecosystem. let's go to him. brian? >> reporter: hey, melissa, thank you very much. the winds are picking up in galveston. largely spared, although we've been driving as far north as we can. tomorrow galveston is supposed to get whacked inforecasts are wong that could impact the refining industry, which is already hurt. most of the refineries are about three, four miles that way a bunch of them are shut down. an estimated, let's call it 15% of refining capacity offline we don't know exactly for sure, marathon petroleum, for example, was cagy, said we don't give updates. we drove by the refinery today there wasn't many cars around. that's why we're seei

let's bring in steve grasso at the nyse tell us about the mood down there.are people talking about? >> this does not feel like war to me. does it field like war to you, ty >> i would say it does not feel like war to me but field lying a -- involves an untable regime >>. >> that increases risk i don't see much translating within the market play >> i don't see it in conference sits, don't raely see it in gold the vix is up a bit, but 2 can do lots of funny things for lots of funny reasons with we know what north korea does this is sort of a page out of the his playbook if there's another step, of course when you heard jeff gundlach talk about a 3% drop, we haven't had anything, even a black swan event is capable of doing that rather quickly. a -- that company contributing to a lot of the point loss there. but would you go so far as to say that people who were of a mind to lighten up in equities got the excuse they needed yesterday to do so >> i would agree wholeheartedly. it's been a losing game plan if you lighten up and this market has gone straight up in yo

traders on the desk tonight, pete najarian, tim seymour, steve grasso, guy adami.e month since december of 20 is15 as a group down 18% this year. with venezuela's problems heating up, are oil stocks finally a reel bual buy >>> plus, chinese tech stocks are so

traders, tim seymour, david seaburg, steve grasso, guy adami.unravel. texas deals with massive flooding and more rainfall expected in the next couple days we just heard the president addressing the nationwide effort of are rescue and relief in the state of texas brian sullivan on the ground in galveston, texas, monitoring the impact of the emergency ecosystem. let's go to him. brian? >> reporter: hey, melissa, thank you very much. the winds are picking up in galveston.

closing bell" exchange to discuss is kim foo, cnbc market analyst and also from stewart frankel steve grasso and our own rick sell el over at the cme e. rick, i want to start with you what an extraordinary turnaround we saw from sort of the middle of the night to early this morning, not just in equities but particularly in the u.s. dollar talk us through what happened there. >> yeah. it's really quite amazing. the dollar index getting down to levels we haven't seen since the very end of 2014, and it's come back a lot maybe they can show the chart, came back. it's now unchanged virtually unchanged. 22.20, 21. you can see the big recovery, and you can see it's the lowest price for dollar index since the beginning of 2015, and it does underscore that the euro popping above 1.20, something that many thought was likely but not going to happen any time soon, that was just several months ago. the euro currency has a lot of strength in its own, but at this point the currencies that you always see pop when you see news like north korea seem to be those currencies getting involved in lots of derivativ

steven grasso. you want to tell me what you just said. >> which part?'t do that >> okay. >> so this is our third millennial level we have gone through this year. >> right >> we started the year in 19,000, now we're at 22,000 and show nothing signs of giving up. >> it's the dow domino effect. you keep knocking down these resistance levels. path of least resistance remains higher when you look at passive investing, what do people do now? invest indexes, atfs, single stocks they still do it, but they wind up saying, i want to buy tech, i want to buy xlk. >> does that trouble you at all? is that a problem? >> i think it could be a problem because it forces a lot of purchases and sales in the underlying constituents of that index, but i think as the market as a whole, bears have been hurt, bulls have been rewarded >> let me ask you one sector you've been watching carefully, we all have, the transports -- >> sure. >> they've suffered mightily recently, but you're seeing a little sign -- >> today they bounced off the 200 day moving arch, same in may and procee

starts nw overlooking new york city's time square traders on the desk, tim seymour, brian kelly, steve grassoi. united technology reportedly looking to buy rockwell collins. what price subtraders see the deal getting done for. >>> plus one left for dead dotcom bubble stock quietly made a new all-time high today. we'll give you the name today and tell you tow to play it. >>> later bitcoin surging to a new high

. >> can we restart this already >> you and grasso, steve, i love him.oth you guys. >> however -- there's a however -- >> no, no however. that's all i will say. uber's new ceo, dara khosrowshahi making headlines at an all-hands meeting in san francisco. he said he believes uber should be public and that we could see an ipo timeline of 18 to 36 months ub hear a ver has a valuation o8 billion, and daraa sa says the n is to pay the bills. we go way back >> khosrowshahi. i've been practicing >> i know. board member arianna huffington tweeting this photo saying a special selfie at end of a special all-hands meeting. the tweet said dara will take the helm at uber on tuesday. >> just trying to figure out how people are melding behind the scenes which board members are lining up where how travis kalanick will get along with dara khosrowshahi arianna's key in all of this because she has been seen as being on travis kalanick's side. if she's also embracing him, maybe there could be at the beginning some semblance of trying to work together. that's what i would tak

great american the grasso character. he argues with nathan a lot what is nathan's problem? pointed at andrew? >> what? >> i didn't say anything i did not say anything i did not do anything. >> you made eyes >> no eyes no eyes happening. no eyes ever happening >> i don't know pa whnoknow what happened >> we'll talk trade, talk nafta. talks for renegotiation of nafta kick off tomorrow. for more we bring in javier palomarez. good morning to you. what do you expect to come out of this? >> you know what i expect, what i hope for is a continued understanding of the criticality of foreign trade and therefore nafta for american small businesses i think the average american doesn't recognize that 95% of the global market exists outside of the united states and that when you look at all the corporations or companies that engage in foreign trade in this country, 98% of them are considered medium to small-sized companies. i'm hopeful. i believe there will be a continued focus on the krill l criticality of foreign trade >> what are you specifically lobbying for when you're in the halls