traders are steve grasso brian kelly, tim seymour and dan tonight on facebook facebook could be facing regulations as reports of turmoil dominate the news feed. fresh faces in the c sweet will that get the social giant on track. plus the trade trauma continues as competing headlines give the investors whiplash the president puffing the possibility of a deal. white white house officials tamp down expectations. we start off with the cracks in the market spreading that's right semis slams after the nvidia earnings report. retail starting to fall apart. and high yield bonds deteriorate. do you think it's holding up while the rest of the market sold off in october? are the cracks breaking the market how bad could it get. >> it's about the market not about the economy. there is a lot of the sectors you could have looked looked at semi conductors you mentioned topped out earlier in the year in march we saw weakness home builders. banks topped out in the first half of the year i'm not certain when you thought about gdp that we just had in the middle of the year that that was indicative of the

grasso trip adviser the first one. >> fade it too big of a move look for the stock high valuation. it is it a twilio etsy those are the names take you out. i don't know if trip has the guts to do or the inrds the core strength to do it. >> guts. >> there is a lot going on. >> i thought the consumer was strong though sflo they are accelerating deals on restaurants abhoe pel and even the core was okay. the spike higher was too much. >> i'm morp with steven on this. i think in in market that spike higher you have to fade it particularly you worry about -- are you worried about earnings, valuation but a move like this in this market you fade. >> i think these guys are pretty strong no one asked but i would g go with with bockings. >> whole other game. >> would you rather i'd rathered trade bookings but i'll trade trip adviser. >> i don't like that self-gaming. you did it too. >> price line. >> it's bookings, the old price line all right, people cop come on. you know, listen i actually think the most the story was the internet services saw what happened to yelp iac. there were some stoc

up 11% grasso. >> this one is a multiple stock. this has a problem this is the key to the overall market. >> i heard this on power lunch. >> if this moves higher this moves higher i don't think the market is moving higher. in has a lot of headwinds market moves lower so does this fade it. >> is this a tell on the market. >> absolutely. because it's part of that growth story where the valuation doesn't necessarily make sense when you get a scare. >> i thought there was a rotation out of growth isn't it a value market now. >> that's what i'm saying. if the market comes up you have the rally. if the market comes off this is getting hit harder than anything that's why i think it's a fade with a capital f. >> still fade it but i have to ask the question i'm not asking to my left >> just the guy to the right. >> the guy to your right. >> the camera guy drop the camera. >> why did a lot of people not like it at 286 but like it i'm perplex zbld are you buying or zbleel trade -- fading fading i like it for $150. >> no, but i think that that

steve grasso karen finerman and dan nathan. we start with the which would day on wall street after a big night in d.c the dow surging more than 500 points soaring into the close ending near the highs of the session. the best day for stocks following the midterm elections since way back to 1982 but while wall street went wild, the real drama came from inside the beltway. our own eamon javers is back at headquarters with the details. eem sfwloon melissa, that's right. we had the wild press conference from the president in the east room down in washington, d.c but then shortly after this late this afternoon the white house announced that the president had removed his attorney general jeff sessions, replacing him with session's own chief of staff matthew whitaker somebody who has been critical of the special counsel's office straying too far from the mission. whitaker having written about a year ago an op-ed in which he suggested the special counsel should not investigate the president's family and finances. he should stick to inve

grasso >> i agree with you, great company. it's a tough valuation and you have tough comps going forward and the chart tells me it's rolling over right now i'm going to say sell. >> oh boy. >> okay. >> b.k., what does b.k. think. do it in the third person, please. >> b.k. thinks it's a no-no. i like what pete's saying. i understand the growth but the problem is in this market environment those high pe stocks can get taken to the wood shed if it breaks through 133, b.k. out. >> i realize my vote doesn't matter but i'm a buyer of what pete had to say. new ceo is crushing it i think they had a blowout quarter that carries into this holiday season >> the first time i realized pete's bald. >> i do this in central park on the weekends by the way for extra cash, make up for my ge position. >> this is a great idea. are you at home buying pete's pitch for lululemon? vote in our twitter pol poll @cnbcfastmoney. results later in the show. quick programming note, don't miss a veteran's day edition of "mad money." jim's saluting our troops

steve grasso you made it to the nasdaq you get the gold ribbon. you get to kick-off the show. >> i think it's a problem with retail they've all been up on the year. but, you know we had apple warning about the who will dan season amazon warning retail is a big part they had a big run thus far this year yopg they are out of the woods and i think they are in for more selling heading into year end. >> brian kelly some people questioned whether or not the retail rally we have seen was based on fundamentals or a technical unwind of a long amazon short bricks and mortar trade. >> i think that was the spark here and then there was the hope that we had the kind of year-end holiday rally. but based on the numbers and the wal-mart numbers we saw. wal-mart numbers were fine but people think that perhaps top lines is topping out. you look at wal-mart you look at nordstroms and it doesn't paint a very good picture. the one thing in the nordstroms report that i thought was interesting is nordstroms rack did well without that things would have been not so great.

steve grasso and guy adami tonight on fastest everything is awesome. according to the federal reserve. jerome powell sparking a epic rally after pacifying concerns, the dow surging 600 points the s&p jumping 2% the nasdaq up a whopping 3%. and jonathan golub who was there will tell us why the market is going higher but there is a catch he explains. let's send it over to steve liesman for more on powell's message to the market. did powell give in >> some people characterize it that way i'd say he redirected from a legal standpoint perhaps but what he did for sure was ignite a powerful rally saying the fed is not on a preset course, the market wanted that and that the fed is just below the range of neutral estimates >> interest rates are still low by historical standards and they remain just below the range of estimates of that level that would be neutral for the economy, that is neither speeding up nor slowing down growth. >> let's unpack that they say it's not as dovish as markets think. the top of the range is only one hike away from the bottom end an

a look ahead to next week, let's bring in steve grasso, great to see you. >> see you you said we couldsting february lows in the s&p 500, 2532 is the level. how are you feeling after the rallies we've been able to string together? >> there's a couple tail winds you would expect trade, softer fed, and midterm election closure obviously we got the softer trade headlines. so we'll see where that leads us i would like to weave that test in the next couple of days i don't know if we'll get it, though. >> do you think mid-terms will be a catalyst for the stocks >> well, the closure will be so i don't know how -- let me tell you, if we keep or the republicans keep the house and the senate i think that's a major tail wind for the economy. >> and if consensus comes throughings whi through, democrats take the house and republicans keep the senate, then what? >> that's closure. either way we move higher. if the republicans keep the house i think we move higher aggressively if we can get a trade deal done and softer headline wes move aggressively higher if the fed gets softer, aggressively higher.

sizing your risk. >> great to get all of your thoughts today renee norris, phil camparalli, steve grassoick santelli. >> you said mine perfectly. >> it's been a long day, folks. >>> we've got a news alert on at&t julia boorstin has those details. julia? >> reporter: morgan, at&t shares moving higher on comments from at&t's cfo john stevens at the morgan stanley conference, saying that 2018 earnings per share will be at the high end of the $3.50 range, reiterating guidance for 2018. stevens also saying that at&t continues to work on the resolution of its -- the department of justice appealed its suit to block the acquisition of time warner, which it has integrated now as warner media, saying they expect appeal resolution by the first quarter of 2019. we now see at&t shares up .8%. back over to you. >> julia, thank you. >>> still ahead on the "closing bell," we're all over today's late-day market see-saw. we'll break down what's driving the moves and hear from the chief investment officer about how to prepare your portfolio amid volatility. >> the u.s. trade commissioner holding high-level

i remember dick grasso, a friend of mine, great guy.ded up the new york stock exchange in september 11th, and the new york stock exchange was open the following day. he said -- what they had to do to open it you wouldn't believe. >> the latest count from the "washington post" fact-checker blog shows the president has made 6,420 false and misleading claims since inauguration day. 6,420 in 649 days. when we started highlighting that running tally this year i searched for a way to make something conceptual like a false statement visual. i remembered a party game i hated as a kid -- guessing the number of gumballs in the jar. remember that? we've used jars of gumballs to show the president's thousands of false claims and downright lies. here's the latest count -- 6,420 gum balls. we've filled 11.5 jars fewers than two years into the -- fewer than two years into the term. when we started this this january, i went to a local party supply store and filled a cart with whichever gumballs they had in the store. there are so many now that we buy t

. >> i think it will approach the levels steve grasso was on on power lamkin fantastic with the charts up there. he was talking about different levels and he talked about earlier this year, october but also back to the january, february drop we had. can we test those or break through? absolutely we can test the levels but yes. the one thing interesting to me dan watches like i do. i look at the vix and i think it's more meaningful than we have discussed than you do the fact that we have gone up and had multiple 500 down days i'm shocked at a vix that's at 22, 23 i think that's many remarkable it's extremely low given the intraday movement p we were down 550. i think we should approaching 30 and by the time we get there subpoena wore o sorry by the time we get there then we will see the whoosh down effect that we haven't seen. >> the capitulation. >> yes. >> if you think about the long-term archl on the vix it's closer to 18, 9. if you think about markets have been this cuts to the central bank put that pulse the volatility out of the markets. you take central banks out of liquidity and

market site over looking new york city's time squares traders tim seymour, karen finer man, steve grasso and guy adami. it's election night in america and what could the moment of truth for the trump rally be the market is up 30% after 5 trillion in market cap americas head to the polls to determine the balance of power in congress and less than an hour away from the first results. eamon javers is back in the newsroom at election headquarters >> let's review the stakes for tonight ahead of the polls closing here in a couple of hours. starting with the house of representatives. this is where the pundit it's and democrats think the democrats have opportunity for pick up pps democrats need 23 seats net to take control of the house of represents from the republicans. we see if they can do it in the senate only two seats in the senate net to control that chamber but because of all the red states, the democrats run in this year, the expectation is for the senate ultimately that's going to be a heavier lift for democrats not necessarily to take control expected. but what we learned is all the e

traders are steve grasso brian kelly, tim seymour and dan tonight on facebook facebook could be facingreports of turmoil dominate the news feed. fresh faces in the c sweet will that get the social giant on track. plus the trade trauma continues as competing headlines give the investors whiplash the president puffing the possibility of a

market site over looking new york city's time squares traders tim seymour, karen finer man, steve grassod what could the moment of truth for the trump rally be the market is up 30% after 5 trillion in market cap americas head to the polls to determine the balance of power in congress and less than an hour away from the first results. eamon javers is back in the newsroom at election headquarters >> let's review the stakes for tonight ahead of the polls closing here in a couple of hours. starting with the house of representatives. this is where th

the weather is having making it hard to us tim seymour in las vegas brian kelly and steve grasso whoaq market site good to see you all tonight, guys safe and sound. tonight check out shares of nvidia crushed after hours the company reporting earnings many called the semis th

market site overlooking new york city's times square traders are tim seymour, brian kelly, steve grassoe meeting that could determine the fate of the market is under way as president trump and president xi go head to head in argentina we tell you all the words that wall street waits to hear. health care is surging if you missed the rally don't worry, the chart master says there is a group of stocks that could help you join the party he explains. first we start off with what was a big week for

steve grasso karen finerman and dan nathan.d day on wall street after a big night in d.c the dow surging more than 500 points soaring into the close ending near the highs of the session. the best day for stocks following the midterm elections since way back to 1982 but while wall street went wild, the real drama came from inside the beltway. our own eamon javers is back at headquarters with the details. eem sfwloon melissa, that's right. we had the wild press conference from the president in the east

steve grasso and guy adami tonight on fastest everything is awesome.o the federal reserve. jerome powell sparking a epic rally after pacifying concerns, the dow surging 600 points the s&p jumping 2% the nasdaq up a whopping 3%. and jonathan golub who was there will tell us why the market is going higher