i think ethereum is the one the own here. >> grasso?the one thing that i own in this space is overstock. i own it because of its blockchain bk would agree, this is the way i play it. i don't bet on a coin. i bet on blockchain, the thing that's definitively not going to away. >> it is time now for the final trade. >> it is right let the record. >> to, you are first. >> twitter, had an incredible week i'm long in the name. it popped aggressively if it holds above 30 it's still good to get back in the you got out. >> first profit ever. >> yeah. snap chat, just to take the other side i am a seller of snap chat here. 17 times forward sales this is a stock that is -- they are jamming add loads to their user base. i don't think that's good. too expensive, sell it. >> bk? >> for me in this environment. i want to look for somebody or something that's going to do well in a high volatility environment. people have been lamenting low volatility, goldman sachs should do well here nice bounce for them >> are you ready for -- >> they are going to chal

for a companies for our workers and as i know you and i both care about david for our economy david grasso a bold media thank you so much for joining us hope you'll come back great to hear great to be here bart thanks. and know trinity chavez has details on a new report regarding air b.n. b. and rents she joins us from new york city air b.n. b. is being blamed for higher rents and reducing available housing and new york city a new report outlines some troubling trends about air b.n. b. and how the short term rental site has affected renters even the same kind of room in a place that other people or even seen a home buyers on air b.n. b. a vacation web site meant to make traveling easier more convenient has apparently made things more difficult for tenants looking to rent in new york this year hotel renter for usually you have to go a year up. air b.n. b. we just want something for two weeks and we'll pay the same thing according to a study done by mcgill university in the hotel trades council air b.n. b. has removed between seven thousand to thirteen thousand five hundred housing units fro

our companies for our workers and as i know you and i both care about david for our economy david grasso of bold maybe thank you so much for joining us i hope you'll come back great to hear great to be here bart thanks. and no trinity chavez has details on a new report regarding air b.n. b. and rents she joins us from new york city air b.n. b. is being blamed for higher rents and reducing available housing and new york city a new report outlines some troubling trends about air b.n. b. and how the short term rental site has affected renters you can see the crowded room in a place with other people where you can see the homeowners on air b.n. b. a vacation website meant to make traveling easier more convenient has apparently made things more difficult for tenants looking to rent in new york this year hotel renter for usually you have to go. up. we just want something for two weeks and we'll pay the same thing according to a study done by mcgill university in the hotel trades council air b.n. b. has removed between seven thousand to thirteen thousand five hundred housing units from the city

our companies for our workers and as i know you and i both care about david for our economy david grasso a bold maybe thank you so much for joining us i hope you'll come back great to hear great to be here bart thanks. and no trinity chavez has details on a new report regarding air b.n. b. and rents she joins us from new york city air b.n. b. is being blamed for higher rents and reducing available housing and new york city a new report outlines some troubling trends about air b.n. b. and how the short term rental site has affected renters you can see the kind of room in a place with other people where you can see the home buyers on air b.n. b. a vacation web site meant to make traveling easier more convenient has apparently made things more difficult for tenants looking to rent in new york this year hotel renter for usually you have to go. up. we just want something for two weeks and we'll pay the same thing according to a study done by mcgill university in the hotel trades council air b.n. b. has removed between seven thousand to thirteen thousand five hundred housing units from the cit

>> with the dow up 284 points, nasdaq higher by 60 points in premarket trade, joining us is steve grasso"fast money" trader stocks can fall fast and bounce back hard. we learned that lesson this week is that what you expect in today's trade? >> you know what's troublesome is yesterday i felt confident with the directionality of the market when we were drifting higher, it felt like the legs were taken out from under it once again no one knew what to point to you you can scramble, say it's about debt and deficits, i think it's about that risk coming off the table and it's selling where no one that ahas any idea where coming from. it's almost robotic when markets get to a certain level, these funds have to de-risk. >> steve, in terms of the sparks that we always go back to in terms of what the causes are, yields are focused, we did see yields pick up again yesterday and markets decline. are you still watching that level, the level of the ten-year as one main way to decide if we'll have a good day or bad day? >> yields are always a focal point. but, you know, a couple days ago we did hear fr

. >>> joining us now on the cnbc news line, we've got fast money trader steve grasso, he's director of institutional sales at stewart frank doe steve, i've got to tell, we've been riveted with the coverage from the floor and edge elsvery else how do the markets feel, does it make it feel as though the bounce has legs? >> good morning, dom, good morning, contessa. when i look at the balance we had last week, i try to put some sort of a consciousness about every other selloff i've seen. and you know, is this a real recovery is it a real rebound when you saw the selloff and when you saw the sell-back the middle of next week, we sell off perhaps for no reason. and i asked people why did you sell off what's your opinion? people are saying inflation, due to the ten-year. you tell me then, why the yields were down on certain dates, and the market was still down. so, what's gotten me concerned, dom, is the selling. where it doesn't matter, we're still going on a daily basis, so, yes, a concern about the market as a whole being at its levels right now it feels like it's just a really rebound ov

steve grasso joining us there.ng the stocks to watch, wells fargo, shares are down sharply this morning as investors brace themselves for the first trade day since friday evening's unprecedented reprimand from the banks per casive and consistent misconduct dating back to the scandal. it the fed will limit wells fargo's growth by capping assets it will cost them up to $400 million in earninging this year alone, outgoing chair janet yellen admitted that the punishment, quotes was unique and more stringent than other banks in the past. the bank will risk a new risk bank management plan in the next 60 days. concurrently, wells fargo is also replacing four board members following three changes in 2016 and three last month as we have a look at the share price, court, it's down 7.5% in the premarket. most of that decline came late friday after the close but this is unprecedented. >> and we didn't know anything like this was coming >> no, exactly the time line is fascinating janet yellen did mention this in a press confere

market site overlooking new york city's times square i'm melissaly pete najarian, tim seymour, and grasso >>> a crypto star is born a. 21-year-oldst started his own hedge fund and he says a way to make money in bitcoin where the cryptocurrency goes up, down, or nowhere at all he will explain how to do just that. >>> first we start off with the fed and an unfamiliar sound. the sound of doves crying. >> oh. >> you know it's been a tough day in the markets when we bust out prince yep, investors were crying as the brand-new fed chairman, jerome powell testified before the house financial services committee for the first time in his new role and sounded hawkish than they were expecting sent the dow down 300 points steve. >>> can't get over the prince reference. respect. very cool. >> here's the question will powell be singing a different do you know on thursday >> you know, that's possible fed chair j powell was doing just fine in the testimony until congresswoman maloney asked him what would change the rate hike forecast from three to four. he started by saying a strong economy. and here's wh

as you just heard, andrew is on his way to south korea our guest host is steve grasso, director of sales at stuart frankle. we just saw you but it is a new day. >> i am just on this side of you versus that side of you just to the switch it up >> let's see what's happening in the markets here u.s. equity futures are poised higher again, it has been a sharp rebound from the lows. futures up 90 on the dow 36 on the nasdaq just under 10 on the s&p 500 dow closed above 25,000 again yesterday. how about asia a check on the overnight session. china is closed, right, for the holiday? >> yes, the lunar new year >> the chinese exchange was closed except for the nikkei >> you don't believe it until you read it in the teleprompter. >> i would believe him before the teleprompter did you do ""fast moneyfast mont night? >> no, there is no "fast money." >> i knew that >> i watch around the clock. >> i do. >> european equities to check on those as well. let's see how we are set up for the session here there is the nikkei in japan that was the lone market in asia great across the board for europe stronges

. >> goldman sachs is going to do well with volatility >> grasso?> we have heard a lot about health care. heard about amazon jp morgan, berkshire i believe rite aid was thrown out, baby with the bath water type event auto. i bought some thisseck would i think it goes higher. >> guy adami. >> busy monday i'm looking forward to seeing you on monday sthi won't be here. >> what? smile he be gone for two weeks on vacation. >> oh, my god. >> what are we going to tell the audience. >> i'm telling you right now, too. >> chicago merck an tile, all-time high today. daily volumes up month over month. cme up on a bad tape that's a buy as well have a good time. >> we will see you back here monday at 5:00 don't move "options action" begins after thisre bak is helping build the new new york. once home to the world's image center, new york state is now a leader in optics, photonics and imaging. fueled by strong university partnerships, providing the world's best talent. and supported with workforce development to create even more opportunities. all across new york

it's a process steve grasso said that many times. i think it will get its sea legs i agree completely with jim, what he finished up with, this is really the reversal of all the central banks thinking they are hercules just consider this we all think our central bank's done, it's about run-off and balance sheet production all combined, all the central banks are well over 16 trillion, we're just under 4.5 trillion and three-year, ten-year, 20-year auctions today, the federal reserve for their account called soma about 12.4 billion. we didn't have a $16 billion auction for 30-year bonds. we had a 19 because they bought three. they bought 3.5 billion of tens yesterday. even though we talk about the taper, the real taper is when they actually see the numbers moving that's just beginning. i don't think it should be shocking that's when the volatility is beginning. >> you know, oliver, the first couple weeks of the year when markets were just taking off, we were asking people every day, can you still find stuff to buy? you feel comfortable

market site in times square, i'm kelly evans with andrew ross sorkin sitting in with us today is steve grasso you about 12 hours ago, hello again. here we are. let's check in on u.s. equity futures. yesterday, another 500-point swing session. we closed lower. this morning futures implied lower, 178 points on the dow, 18 on the s&p, and 30 on the nasdaq check on the overnight sessions as well. some green in the nikkei, 1% gain the shanghai is down 1.5%. this after data shows china with

as you just heard, andrew is on his way to south korea our guest host is steve grasso, director of saless side of you versus that side of you just to the switch it up >> let's see what's happening in the markets here u.s. equ

. >> joining us we have teeg sanders, steve and steve grasso. >> welcome to all of you rick, let me start with you because what is going on with interest rates we talked about going over that key 2.9% level we have a big inflation report coming tomorrow morning. now it looks like the market is backing off those rate expectations >> and you're right. if you look at this being the sixth session, six, we've had in aid closing yield range from 2.81 to 2.86 load looks like it will meld into that will range it has been that crazy while the stock market has we've had bigger intraday swings but the closes really do tell me there's a whole lot more going on in the fixed income space as it tries to get its gps than its normal response to a softer volatile equity market not that many years ago you get that type of volatility in the equity markets, you would see serious downward pressure on rates. even as they sit down 4 on the day where twos are up three, we flattened the curve six to seven basis points today if you look at the way markets traded in years gone by, you would see such a significant dr

hank, go eagles. >> go eagles >> hank smith, steve grasso and rick santelli. >>> countdown under way. hanging on for about a half an hour before the bombardment of earnings. amazon, ail fet and amazon we have full team coverage straight ahead snud welcome back to the "closing bell. the ten-year treasury note very close to 2.8%. it's just picked up in the last 15 minutes or so, 2.79%. that's part of the reason we've had a little selloff in equities i want to show the ten-year german bund yield as well. it only crossed 0.7 briefly yesterday and it's pushed higher throughout the course of the day. that's the move over the last month where it was just at 0.4 a delta of a move in the german bund significant and driving yields over here as well. >> the 30-year interest rate is over 3%. it's been the worst week for the home building business, down 4% so far let's check on a couple of etfs moving in opposite directions. year the energy, xle, which is positive, and real estate going the other way. not surprisingly with those reits with the way interest rates are going. diana olick with ideas t

grasso get here. this is eric marshall from hodges and rick santelli, welcome. starting with you, the rate moves this afternoon have been interesting, back up at 2.85, maybe headed back to the recent highs what do you think of it? >> well, 284 is the high yield close, not surprised if it came on messy friday with regard to equities, and that's high close going back, of course, to january of 2014, but i do think that we're going to usurp that by a basis point or two, by the way, up a handful of basis points now the auctions were not terrific, and i can understand why. nobody's going to catch the dropping knife when they could just go in the secondary market versus auction if they so choose listen, i think rates can be putting this away. there's a high every day people tell you what resistance is, and the way i look at it, the minute we surpass last year's high yield close of 2.63, the market has been going up, and it's going to test 3%. it's going to stop on a variety of stops along the tour, but keep focus we are going to get up there it's just a question of whe

well constantino grasso is a senior lecturer in business management the university of east london and he joins me now in the studio thanks very much for coming in to us there and i suppose my first question is why was he released from jail i think it's strictly connected to the very nature of corruption it's not something really to just asia but also it's affects also our country western counties b.c. cali corruption is polish with its light fronts and this is a commonly this is happening just because there is a substantive criminal law issue that is that when the criminal justice is so well developed. the influence of this creation and. determined that violent crimes and crimes against pompously were harshly punished whereas economic crimes that there were other crimes that were committed by their members were not so we have to change the perception in our culture of the seriousness of economic coming corruption and we have to fight against that and it does it make it a victim of the fight on corporate corruption almost look really quite weak because this is also weak from because of

i'm sorry. >> i can only hope to be and look like steve grasso, who's standing nearby, by the way. >> i would say - >> tim seymour and guy >> the vix was up close to 9s 0% today. i was talking to containkaren ie green room i said the vix is up way too much or the market wasn't down nearly enough. i think maybe with the after-hours action we're suggesting sort of the latter. maybe now the broader -- >> say that again because this is really important. >> the volatility index chart closed up 89%. just to put it into context. it's a pretty significant move i'm stating the obvious. i would submit that the dow, given a 990% move in the volatility index, could have been down more than is 1100 points i'm not suggesting it should or will the after-hour trade with the nikkei down 8%, brian told me, that makes sense in what happened with volatility. >> tim, if that's the case, look, and i get -- i know in a weird way i can get that when you tell me what's going on here i just wonder if you're sitting back and you don't have to worry about this day to day, is this an opportunity for somebody to b

coming up tuesday morning, new york republican congressman john grasso on gun control and school safety. then michigan democratic congressman dan kilde talks about infrastructure and what can be done to help older industrial cities. and tom park of the one campaign will discuss efforts to combat extreme poverty and the effect of president trump's proposed budget cuts.

joining us to discuss that, steve grasso welcome back, steve.why were they cheered? >> look at it through a bigger macro prism. this sector has been overshorted, under owned the multiples have come down drastically, setting up for easy compares for the first quarter you look at what's behind it the weather was not terrible we had no polar vortex where we lost -- accustomed to new ja jargon it was the right amount of weather to sell goods. you throw in a tax rate higher than the going average, and that came down, so multiple tail winds for the space. >> obviously, he brought up the fact we didn't have to go through weather concerns and that thing, but i think when you look at the various names, a great example, target one of the names that part of the benefit today was the upgrade. that did not hurt. look at a name like that, trading at a multiple of 15. look against what everybody compares them with of walmart, for instance, that trade did a multiple of 27 on the pe it's inexpensive despite the fact tart had a great run from november to the leve

. >> yes, it has we'll see you on the close >>> joining us is steve grasso at post 9 and rick santellithe cme in chicago welcome. steve, what do you think we've come out of the gates pretty strong but perhaps more significantly, everyone said after that selloff, we're going to retest the lows and -- we have basically climbed right back as we went down in the first place. >> i think the takeaway was even though we had an abbreviated week last week, we had this pattern where you sold off to the close and friday reversed everything and i think the people are getting ahead of this week so, there's a lot of stuff going on there's a lot of inflation data going on there's a lot of isms coming out. >> jay powell. >> jay powell. not the least of which we mentioned a couple weeks ago that the risk is for jay powell to be more dovish than people think he will be because everyone assumes he's going to be the leading hawk. >> is that possible now because it looks like we're pricing that in a little bit today. >> sure. you always -- you always overreact a little bit but if it confirms what the marke

their earnings on tuesday when we come back from the long weekend "fast money" tim seymour and steve grassothe ice in curling. >> i'm not agreeing with that. maybe steve coasts >> but coast could be a good thing. are you assuming we're riding trends i'll be the coaster. >> what are you coasting on, home depot or walmart? >> walmart had a great year last year it's starting off to have a decent year this year. their numbers could be a little chunky either way so you can't read through flipcart is a positive another way of them competing with amazon. i think it's - >> you think expectations are too high >> you have the 50-day that's actually below them. there is some support in the name, but i would rather -- would you rather, tim? i would rather pick home depot -- >> homeaway -- >> well, there's no coasting for walmart. there's no coasting in the consumable space in hard line. i think the competition is unbelievable you're starting to get some inflation so consumers hate inflation but retailers love it. i still think so much good news, so much amazon is priced into walmart. the multiple is ri

less you look at valuations >> fair point, joining our exchange on that note, today, we have steve grasso with us at post nine, and rick santelli at the cme in chicago back to financials in a second, but this afternoon, we have seen the selling pick up. what do you think's going on here >> i think it's an after effect of yesterday people tried to get their head around and portfolios around what chairman powell is talking about, whether he is adding a lot of unknowns back into the equation where everyone thought there was going to be x amount of rate hikes, x plus 1 now, or is it going to be -- still getting his head around where we see this economy so i think a lot of this stuff is we talked about last week where the markets were and where they rallied to on friday, and so we're at 2700 last week in the s&p. that seems to be a good sense of stability and support in the market, and that was before the jay powell came out, so i think that's where you see the market stay to that level that should be support in the overall marketplace. >> yesterday, chairman said he felt growth improved what'

joining us to talk about what it could mean for our biggest builders, "fast money" trader, steve grassove like nine days off. >> it's crazy. >> i don't know what to do with myself. >> we want all your time, all your attention we just showed the infrastructure etf it was only up 1% today. it underperformed the overall market why? >> i was just going to throw in that that -- that that's a global infrastructure etf. it's like 40% utility, a lot of pipelines -- >> 40% utility >> it's not building of infrastructure i think that's why, perhaps, it was -- >> it's not direct but if you look at the names that are direct plays, like cat tractor or stihl or united rentals, they took the hit when it comes to the brunt of the selloff. it was not a rescue. it was not a cure-all pill talking about infrastructure. >> like a bunch of money coming. >> correct. >> and when you look at the direct investment from the federal government, it's $200 billion. the rest of it is state and local communities, local governments. so, maybe they don't think it's going to be as quick an injections of cash as people onc

market site overlooking new york city's times square i'm melissaly pete najarian, tim seymour, and grassopto star is born a. 21-year-oldst started his own hedge fund and he says a way to make money in bitcoin where the cryptocurrency goes up, down, or nowhere at all he will explain how to do just that. >>> first we start off with the fed and an unfamiliar sound. the sound of

exchange joining us michael joins from riverfront investment group, andy capran, along with steve grassouart frankel and rick san stelly at the cme in chicago. steve, what's your first plush thought about the kind of action we're seeing today after yesterday's historic drop? >> when you haven't seen volatility for such a long time and then you get a dose of it, a large dose of it, it's shocking to all of your senses. so, i think everyone's trying to absorb this. everyone's trying to make sense of it. but the bottom line is if most people think nothing fundamentally has changed, it was a deleveraging, a risk issue. if the fundamental story is still intact, then the buying opportunities should still be there as well. >> same question to you, rick, veteran trader the kind of volatility we've seen today art cashin says in his 50 years what he has seen is this kind of action signals the market searching for a bottom of some kind what do you think? >> i think with respect to today's action and how we're trading, yes, i think we're trying to find a bottom to the slight correction we've had in t

little how to trade those three as, amazon, apple, alphabet, are the "fast money" traders, steve grasso and guy adami. great to see you guys because it's been such a crazy day steve, what do you make of these tech earnings and how much are they to finger for the market react broadly today? >> so, i don't think they were to finger for the market reaction the market reaction was to yields the market reaction was to technicals you and i have discussed this. the market was extended above the 50, 100, 200 it wants to correct back more to the norm that's what we did a little today. more on the downside but on a friday, no one is stepping in. apple, everyone was worried about the demand for the iphone x but you saw asp's average selling price rise about $100. >> are you a buyer of that one, steve, apple >> i own it. yes, i'm holding it. i own it holding it and owning it is the same as being a buyer. amazon, you can't say valuation, no one cares aws is a force to reckon with. it's the name in the cloud space. amazon, still a buyer there. i don't own that currently i've been in and out of that o

market site in times square, i'm kelly evans with andrew ross sorkin sitting in with us today is steve grasso saw you about 12 hours ago, hello again. here we are. let's check in on u.s. equity futures. yesterday, another 500-point swing session. we closed lower. this morning futures implied lower, 178 points on the dow, 18 on the s&p, and 30 on the nasdaq check on the overnight sessions as well. some green in the nikkei, 1% gain the shanghai is down 1.5%. this after data shows china with a 37% jump in imports and just an 11% rise in exports for january. still both were higher than economists expected. over in europe, a check on how we're doing there. the dak dox down better than 1%n germany. down about 1% across the board >> in political news, well, you want to look at these first? >> what? >> treasuries. of course. don't want to jump past those. the ten-year -- >> it was sitting there. >> i didn't see it i was so excited for the political news 2.831% is the number on the ten-year recent high was 2.88 that happened in the midst of that payrolls report then the market turmoil. >> after that s