and then there's grasso.re's grasso's picture >> deny it >> there he is. >> you look identical. >> brian kelly take a look at brian kelly here. oh, so adorable. >> that's the don johnson look there. >> and david seberg's picture in the '80s >> there's the actual picture, and you do actually -- >> he looks like meryl streep there. >> i didn't make fun of you. >> beakers. >> you know, i said gold was a decent buy i think silver too slv, great risk/we ward. >> xop i like it for a short run to 45 bucks. >> chk comes out, mel, back to you. >> seeou b yack here on monday at 5:00. don't move, "options action" starts after the break welcome to holiday inn! thank you! ♪ ♪ wait, i have something for you! every stay is a special stay at holiday inn. save up to 15% when you book early at hollidayinn.com save up to 15% when you book early and the nx hybridhe 2018 lexus nx with a class-leading 31 mpg combined estimate. lease the 2018 nx 300 for $339 a month for 36 months. experience amazing at your lexus dealer. >>> the gu

our guest host for the hour is steve grasso, a director of institutional sales at stewart frankel and steve thank you for being here. >> good morning. thank you for having me. >> we'll talk about short termism and what investors really want to see you'll join in on the conversation in a moment. >> can't wait. >> let's talk about the u.s. equity futures and yesterday was a big up day for the futures you'll see this morning the green arrows are continuing once again. dow futures indicated up by about 43 points and the s&p futures up by over 2 and the nasdaq up by 7 points. the london stock exchange returned to normal after a glitch delayed the opening for an hour. you can see the ftse is down about 0.1% that goes against the rest of the major averages in the green. looks like the cac is up by a third of a percentage point. some modest advances in germany and spain. >>> our top corporate story morning -- two business titans out with an op-ed in "the wall street journal" this morning berkshire hathaway ceo warren buffett and jpmorgan's ceo jamie dimon calling on companies to move away fro

we have jim conn, steve grasso, and rick santelli here in chicago. gentlemen, good to have you here steve, trade hurting the market? evidence in specific stocks that tell you investors are worried about trade? >> look at the steel sector of the economy, commodities, now, you're saying do i see real evidence that trade is the reason for it? >> yeah. >> the answer's no >> deere, boeing - >> the answer's no effects on the stock, yes, i see effects on stock, what people normally do, sell the stock or buy the stock, depending what reactions should be with the trade implication, but we don't see anything because we've not seen anything yet. there's no fat in it there's no real meat to it yet we're just chewing on headline the market's been chewing on the headlines for quite some time now, so i have not seen anything new. kayla said we sold off friday. nothing new. today's monday, selling off again, but i could make the case that it started weeks ago, if not months ago, and have not seen anything yet. >> selling off trade headlines, is that a buying opportu

we are going to talk about marijuana now or cannabis a way to a dope a grasso gangel mary jane whatever you want to call it it is on the way to being legal in canada the bill passed both houses of parliament on tuesday and paves the way for a fully legal cannabis market within eight to twelve weeks i mean it would be able to buy sale and grow it tonight the market has already brought in billions of dollars to people celebrating the canadian prime minister justin trudeau tweeted it's been too easy for our kids to get marijuana and for criminals to reap profits today we change that a plan to legalize and regulate marijuana just passed the senate has died promise kept just a bit of background year ago i was actually the first country to legalize recreational marijuana back in two thousand and thirteen it is legal in spain as well but only in private in most countries it's illegal but decriminalized such is the case in australia and belgium and colombia classic example of the netherlands of course it is only legal in certain coffee shops you also have medical marijuana which is legal in tur

and my hope is that grasso will be a time that we will look back on 10—20 years and think that is a timeething good can come from tragedy. caroline davies, bbc london news. processions have been taking place all over the uk to mark 100 years since the first women won the right to vote. those taking part wore either green, white or violet — the colours of the suffrage movement. chi chi izundu reports. music. they followed in the footsteps of the suffragettes of the century ago. in belfast, they started at the titanic worker. in cardiff, their procession passed through the city centre. and in edinburgh, a march toward hollywood park. —— hollywood park. it's been a great opportunity to find out about our own history and name some of the women. there are so many, many one women who have great stories. all of these winning and it is amazing, but especially to represent those we work with on our banners. there is one there that hasn't been done. we wanted to rememberwomen hasn't been done. we wanted to remember women who wear the first in the world to get the vote. and some of them came over a

interesting recovery since the news >> i think grasso saved that >> should have discussed that with himnteresting when facebook announced it, we both -- would facebook users want to let it kind of intrude in that? i don't use facebook, so i'm not the greatest to comment. match recovering >> invite only dating things >> i'm not on any dating apps. >> some posh name. i'm just saying. >>> up next, top strategists talk about the biggest outflows and if there's more turbulence in the u.s >>> tomorrow, interview with paul tudor jones live for a very rare interview tomorrow at 8:00 a.m. eastern time. don't miss "squawk box" tomorrow kicking off at 4:00 a.m. we are back here in a couple minutes. (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring) >>> welcome back, everybody, dow hanging on to a 46 point gain, mostly higher for the major averages ahead of the north korea summit in a couple hour's time as a waiting game, and all of the other news, of course, anticipated for the rest of the week rough week for markets up until now including last week's selloff in bra

introduce the rest of the exchange brent is here from northwestern mutual wealth management, and steve grassoand rick santelli from the cme in chicago. steve, what do you think -- we were -- the ecb was one of the big events this week >> right >> so what now >> well, if you look at the market, i think the market doesn't do justice to what the innards are saying today there's consumer names a little bit pressured from the overall market i'm talking about the retail names, so those names had a huge spike over the last couple weeks, but to steve's point, i think the ecb, a little dovish, market sort of digesting it, but i think the overall health of it is that the market is digested so many things recently, here we are, right on the precipice of making new highs, close enough to say we're in eye shot of new highs, and more and more the list of head winds have become tail winds or at least innocuous to the overall market. >> rick, the mood of the market on the day the ecb said they are ending bond buying programs. extraordinary weakness in the euro off the back of it. >> yeah. you know, you have

sitting in with us, steve grasso good to have you here. >> thank you for having me >> on a wild crazytion >> crazy markets >> right now >> not this morning, but yesterday. >> it was back and forth u.s. equity futures at this hour, a little bit calmer. dow would open higher by about 17 points. s&p would open flat. nasdaq would open higher by 16 1/2 overnight in asia, we saw selling the shanghai composite closing in bear market territory, down 20% from its high set in late january the nikkei however higher by just a few

our guest host for the hour is steve grasso, a director of institutional sales at stewart frankel and you for being here. >> good morning. thank you for having me. >> we'll talk about short termism and what investors really want to see you'll join in on the conversation in a moment. >> can't wait. >> let's talk about the u.s. equity futures and yesterday was a big up day for the futures you'll see this morning the green arrows are continuing once again. dow futures indicated up by about 43 points and the s&p futures up by over 2 and the nasdaq up by 7 points. the london stock exchange returned to normal after a glitch delayed t

"fast money starts right now >> "fast money" start right now the traders are pete najerian, steve grasso, guy adami. both are reporting earnings, those conferences are kick off right now. check out the big after hours movers, starbucks, it is dialing back its gross prospects pete here says the name is a screaming buy. he will explain why. we start with those trade wars in today's sell-offs stocks getting slammed as the rhetoric with china, the dow turning negative for the year, in fact it was so bad at one point we reached back in time bing >> is that the one with the big tee shirts with the letters? >> exactly >> but as the trade wars take the mark, prisoners that want to difference chayet the stocks and which ones unpunished on fears of a trade war so we start with boeing down nearly 4%. this is our game for tonight game right at the top. trade war stock or not a trade war stock. very straight forward, one would think. tim. >> nothing straight forward. i can play this game not a trade war stock. here's why that's right i think the market is unjustly punishing boeing if you look alt wha

feeling it hard, yeah >> let's continue the discussion, and joining us today iss is ernest and steve grassoand rick santelli. we expect volatility given the month. >> absolutely. it is a day we waited for. this is the third date in june we expect a lot more volatility. i think depending on the activity that we already have seen in previous sessions, a lots been priced in already. might see or continue to see window dressing as we get towards the enof the day >> what's been a struggling couple weeks with various negative headlines and market declines, is it important today we end roughly where we are 200 points on the dow? >> i think so. the volatility adds 1% move to the markets, and investors are not used to that ending up in the green, getting the dow back positive for the year, financials stopping their downturn would be important and understand this is a vacation, holiday mode next week, shortened trading sessions, so buying will drop dramatically. >> anything fundamentally change over the last two sessions that led to the better tone and big rally we've seen versus earlier in the week

>> senator grasso, we hear your concern and we are making this a priority to get the willing nominations in and have the vetting done and working closely with the secretary -- i know he is also committed because being a good neighbor is having everyone at the table to have a voice and how the land is manage. it is a challenge for us. >> thank you. >> senator wyden. >> thank you. thank you ms. campbell for your leadership. we have the fire borrowing language on the books. ms. christiansen, we look forward to getting the plan at the end of june on how you will deal with the backlog on how the fuel reduction that we talked about during this committee and i very much appreciate the fact that you have been in discussions with us about how you will be attacking that. i look forward to that as well. i think the country very much wants to know the game plan for reducing the hazards of fuel. for the country, and sometimes it is the -- it is the individual senators running with the bureau, are citizens are so concerned about this. for the country, meat is the ominous month for fires. that's really

sitting in with us, steve grasso good to have you here. >> thank you for having me >> on a wild crazy situation >> crazy markets >> right now >> not this morning, but yesterday. >> it was back and forth u.s. equity futures at this hour, a little bit calmer. dow would open higher by about 17 points. s&p would open flat. nasdaq would open higher by 16 1/2 overnight in asia, we saw selling the shanghai composite closing in bear market territory, down 20% from its high set in late january the nikkei however higher by just a few points. european equities are right now positive across the board, but not by a whole lot let's show you what is going on with treasury yields dow below its 200 day moving average. ten year at 2.88%. >>> and just a few minutes ago, you heard about ge's reported plans to spin off its health care unit and exits baker hughes they will sell 20% and redistribute the rest to shareholders it plans to exit its baker hughes stake over the next two to three years end of a more recent era for ge. sort of a sad story. and that news just crossings tape this second >> officially

. >> let's get quick thoughts from steve grasso before we go out to rick santelli. your quick reaction, and steve, jump in. >> i'd like to see the financials acting well here, i think the statement, what i heard is that the economic growth outlook looks good. i think that's been a problem for the fiials over the last month or so.whh fears or jitters seep in, and financials get knocked down a peg i like the reaction there. >> if you take a look at the s&p financials, that doesn't tell the full story are we finally going to see these financials beh or will the fears of flat thing yield flatteni out the day >> the yield curve is going to win out. you have to go with thkre. the index is up 10% year to date that's been dead money we heard them spk bay hawkish, and this was already in the mix. so i would look for the market to do the reverse, and whatever we talk about this is the reverse of the first knee jerk reaction knee jerk reaction was t s&p. i would look for the to into t e today. >> nice prediction there >> letturnack to you and ask a question, i saw in one of yo

we get to thclosing bell exchange steve grasso, an i cme in csteve, i'll start with you because it was pretty encouraging morning, but fairly disappointing afternoon we recovered off the lows, but what caused that initial selloff at lunchtime >> sorry, if you look at w we've been through in the last couple of days, that runup we've ha y the -- value or growth in the fight between value and growth, iwms, small cap versus large cap, kre versus the xlf, large cap international banking exposure, brand names, people are trying to see, do i see profits now? the e is out b or 10% over the xlf, did you take profits? where do you find growth in the marketplace? you go into the g-7 weend and north korea so people say, you know, we had a good run. why don'we just take chips off the table. we've seen a lot of the super shorted names, reta nes bounce back, take chips off the table. i don't think this is the end of the run.incredible cdays had, ao it, but we've seen the 10-year hit off that 2.99% i saw it as resistance at 2.8 pennsylvania to be technical about it, and it blasted through th i expect

randy frederick, steve grasso, and rick santelli.andy, i'll start with you there's been a lot of back and forth from the administration this week particularly on this issue. how do you interpret it and do you think the selloff we've seen in the nasdaq is justified >> i think a little of it. what i hear from clients is they largely support the end game here which is we need to protect our sblintellectual property. it's the process by which we get there. they support the end, they just don't necessarily like the means we're using to get to that end i think that's indicative of the general investor population out there. >> there's going to be a lot of argument about how much the market's weakness has to do with the trade policies today, what do you say >> so today feels to me as if it's a month end, half year end sort of dynamic where you sell the winners, buy the losers. we've seen energy spike a little bit here so this is reminiscent of monday's action. >> which by the way -- >> middle of the day which feeds into the trade issue becau

market impact of this, joining the closing bell exchange, we have sadif, cnbc market analyst, steve grassoand rick santelli in chicago all in all, is there a softening on trade we heard from the president and the rally, hammering away at the points, and as far as the policy action, have thinged calmed down >> we have not seen any policy action yesterday, so, yes, i think that the rhetoric is always going to be outfront, markets react to rhetoric versus reality of the trade, and when you look at what moves the markets on monday, it was the china investment or blocking of the china investment here. that's what moved around the technology space ahead of the rotation tomorrow, month end, quarter end. he preloaded with the marketplace, right now, you see us up 20 handles, and s&p cash, and so if people started to get ahead of that rotation where you sold tech and tech was to be for sale because hedge funds and funds want that profitability and good trades and get rid of those, show the profit, and buy the laggards, that's why you see that reversal or reation taking place this week, but, also, r

discussion and important equity markets with the closing bell exchange today, quincey is here, steve grassoand mike santelli in chicago at the cme. steve, starting with you, is this a choppy summer ahead today's calmer, but prior week and yesterday, in particular, suggests summer could be bumpy >> right so when we look at all these ade headlines we've been kind of slug shring off the last cou months, it looks back to where it was in the first place. it was something we were dealt as an overreaching argument from the trump administration, something that he said in the past, but i think now people are starting to say, okay, usually his bark is worse than his bite, but in the art of negotiation, you have to bite, eventually, or else everyone knows you're just barking, so i think this marketplace now is trying to digest, okay, how much is he willing to bite. is it softer around trade issues when you start to look at the market trading as one blanket, as a china trade war, that's where the market has digested it probably unfairly to many of the participants what does netflix have to do with the

. >>> kim forest, steve grasso, and rick santelli with us now. welcome, everybody steve, up 300 basically on the dow right now. what do you think is going on here >> today there's a rotation out of fang into bank stocks that haven't performed as of late and i think everyone was waiting for those financials to sort of kick into high gear and give a little push and tail wind to the economy -- to the overall stock market i think we're seeing it today. but we've talked about it a lot. fang is both growth and defensive names. of fg to mike's point, therehain is some trash. look at snap i'm long snap and i don't want to say it's trash because it's what you said before so i'll dig the hole deeper than you did. but this is a company that was thrown out it got to that peak pessimism point. same thing with tesla. there's a lot of names that -- >> one man's trash is another man's treasure >> right these e good companies but they're not looked upon as quality names. now you're starting to catch a bid and that pushes the market is little bit higher we've shir

"fast money starts right now >> "fast money" start right now the traders are pete najerian, steve grassoi. both are reporting earnings, those conferences are kick off right now. check out the big after hours movers, starbucks, it is dialing back its gross prospects pete here says the name is a screaming buy. he will explain why. we start with those trade wars

what's the fox say >>> let's get to "the closing bell" exchange today joining us michael zim, steve grassoand our own rick santelli let's start with you, steve. in terms of the price action we're seeing today, clearly a decent little bounceback in general is it still trade fears driving the action i know you're still surprised we're not seeing more selloff. >> i figure all of the above i do think it's still trade. i think that will dictate the near term motion in the markets whether it's higher or lower but if you look at past performance of every time we talk about trade, it's always a buy the dip opportunity. it's always load up, back up the truck. haven't seen anything that makes me change my mind. the market right now is up five handles. i think we should be up more than this. because i do believe when you saw daca today and you saw president trump have a little bit more of a pragmatic approach to it, i think that's the same scenario that's going to take place when it comes to trade i think that the congressmen on the hill are going to tell him this trade issue could be a problem for u

kay k kayla, thank you very much joining us today is james, frederick newman, steve grasso, and rick the cme in chicago. steve, beginning with you. markets don't have a care in the world, lack of progress on trade with china, i mean why do you think that is? >> just doesn't -- i would think you have to look back to what are the tail winds for the economy? we have that great jobs number friday i think people are putting it into perspective that we still are economically in tact with growth if you look at it from that standpoint, how do you worry about europe how do you worry about everything else? you can worry about it, but i think they take a backseat to the growth questions, and you stick with our economy here and what was shocking to me last week was that large cap tech was defensive, so you go to that for growth >> did all right when the markets sold off, yeah >> right when you say it's shaking off the trade issues, look at large cap tech from china, look at those names, those names are blasting though names are making historic highs, so the market, to your point, shrugged off a

and it had christmas decorations every year, and going to see father christmas at the grasso, getting mix used to be one for me. get in touch on the usual way, facebook come on twitter, send us a text or e—mail. just get in touch, please. that sounded a bit desperate, to be honest. we will get the weather from matt in a moment. first, let's see how it is looking in the lake district. we have cameras around the country. la ke we have cameras around the country. lake windermere in the lake district, wherejohn lake windermere in the lake district, where john maguire lake windermere in the lake district, wherejohn maguire is this morning talking about rail services. what a stunning spot. and london, let's have a look at how the city is shaping up this morning. it is a lwa ys shaping up this morning. it is always a gorgeous picture because there is so much to see. a bit cloudy but it still looks lovely. and you can't see the scaffolding around big then clearly this morning. and this is cannon hill park, in birmingham, where matt is waiting with our forecast. good morning, matt. good mornin