what do you have, grasso >> if you believe gold has room t run, gdx out performs gold.>hat's does it for us don't go anywhere because "options action" is up next. "options action" is up next. ♪brain. better life. >>> oh, that's right you're done. ♪ ♪ you make my dreams come true ♪ well, well, well, you >> "options action", strategies from the street as traders i like to do on friday's at 5:30 p.m.? host "options action" at the nasdaq, of course. here is what is coming up on the big show ♪ >>> president trump escalating the china trade war this week, and dan nathan says there's one group of stocks that could emerge as the big losers he'll tell us what that is >>> plus -- traders were fleeing the fang stocks in droves this week, but the chart master says there's one name that's about to bite back he'll break it down. >>> and later --

your traders on the desk are tim seymour, brian kelly, steve grals o grasso and guy adami one strategist says the countdown to recession is officially on. he will layout the timeline and when he sees the markets up and out. box and williams-sonoma moving lower after reporting. later, a royal rally, how king dollar got a boost from the queen. we will explain with today's move higher, stocks surging with the dow gaining more than 250 points energy, consumer discretionary, industrials all leading the way, this as the yield on the 30-year bond hit an all-time low so do you trust today's market rally? guy adami? >> hi, mel no, i definitely don't trust it but i will say this. as we get into the later part of this week, into a holiday weekend, there's an old saying -- steve knows this on the floor -- never short a dull market you could see the market flowing through over the next couple of days into early next week. i will say it again. i think it will culminate on the down side when the vix trades up to 30. with that said, there are trading opportunities here i will do a power pitch in back en

>> and grasso, don't forget about the garment. >> grasso has a garment i think. >> it broke on vacationh stocks do you like? >> lulu. i think its has the biggest potential for surprise i think people are underestimating the men's wear line i see a lot of men wearing those new pants -- over here >> right now. >> but seriously, everybody i have talked to is buying these pants. i think there's a big chance to out surprise. >> i guess of the three to me, starbucks. the last quarter was phenomenal. the acceleration of the business, the way digital is just -- i can't believe how much revenue it is adding and it has what i think is a gravitational pull or the vortex, whoever you want to call it, to 100. >> it went to it but it started the summer at $75, you know, so you are talking about all of the revenue they're adding okay their revenue is decelerating from 10% last year so i just think there's really crazy things going on. target was up 20% in a day yesterday. did they earn 20% more than investors expected them to listen, there's weird stuff going on here, guys. i mean like trees don't gro

our traders on the desk are carter worth, tim seymour, steve grasso and guy adami we kick things offith a tariff takedown, that's what it was stocks tumbling late today as president trump turns up the heat on the trade war with china, the dow giving up a 311 point game to finish the day deep in the red. we have full team coverage of today's dramatic turn of events. let's begin with the latest out of the white house where eamon javers is live for us in washington. >> reporter: the president just talked to reporters on the south lawn he was asked if he was concerned about the stock market tumble you were talking about in the wake of his tweet about the china tariffs. the president said he wasn't worried about it he, in fact, expected it he said it is because people don't fully understand what his tariff strategy is in fact, the president here blaming the market for not understanding exactly what his approach is to tariffs and to china. he was also asked by me exactly why he picked 10% as opposed to 25% or 5% on the tafrs he tariffs here is what he had to say. >> i did more than anybody

steve grasso with us you spent the day on client calls, on strategists calls, what did you tell your clients to do? >> i think you got to look in this environment for stable growth where you can find it, defensive yield and defensive quality. right? really kind of sure things up. we finish the day on some key levels, the 28, 22 level on the s&p is the august 5th lows, below that the 200-day moving average. the vix is 200 and change. i think it's time to pull in the reigns and be a little more defensive. sit on your cash and be patient putting it to work because we don't know where it's coming, volatility will be. >> give us an example what defensive quality means to you >> you can still own things like utilities here and actually, people don't realize this but one of the highest quality sector ratings is technology you got solid top line growth, you got most cash on the balance sheet. you got highest buy back and dividend ratios. >> one of the hardest hit today. >> it is one of the hardest hit. you have to be careful if you can ride through the short term volatility, there is good qu

i think it is just a rebound effect. >> steve grasso, good to see you.nks >> good to see you guys. >>> one of the biggest threats to the legal marijuana industry is the black market estimated at $38 billion in 2018. weed killers which aired last month found the biggest i will we'd dispensary market is in california unlicensed stores can sell at deep discounts law enforcement has been cracking down as more and more illegal stores are discovered. los angeles police took aim last week at this illegal dispensary, one of more than 250 locations authorities say are open at any given time throughout the city like most illegal stores, it was operating in plain sight right off a busy street armed with a search warrant, police say they had to break down the inside door to the dispensary where the weweed was being sold customers put their health at risk three employees were arrested. >> the owners tend to be in the shadows. employees don't know who hire them there is no employment records employees if you wabtnt to call them that, they call themselves volunteer, so

steve grasso >> i'm going to buy it. >> wow. >> pete, you said it before.hey're domiciled in ireland the corporate tax rate there 12.5%. that's a huge tail wind. buy, buy, buy. >> karen >> i could never bet against pete the value makes it -- >> i did not sugar coat it. >> it if came back to 100. >> a path is a sell. come on. >> anyway -- >> i'm a buyer so it doesn't matter pete wins, i think the guide at 4% is conservative i'm with pete. >> that's a great pete, by the way. very realistic that almost looks like a photo two buys on the desk and one pass that's what's spoken are you at home buying pete's pitch for medtronic. vote in the twitter poll and we will reveal it later on in the show plus, if you are worried about how markets are shaky with regards to your retirement plan, fear not jeannie hnn josois joining us to layout the best way to invest in your portfolio [leaf blower] you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're

your traders on the desk are steve grasso, dan nathan, guy adami. wait, there's more also joined by head of u.s. equity and quantitative, bank of america, merrill lynch, great to have you with us tonight. >> good to be here >>> the bulls taking charge on wall street in hopes of a trade deal sent stocks soaring don't break out the rally just yet. we one chart that could be screaming. helena croft will be joining us. one of the traders on the desk says this is one of the best looking charts in the entire market we will tell you what it is. first -- do you hear that >> what's that >> that is the countdown to the next round of tariffs. come midnight sunday tariffs creased to 5% on some of the remaining goods from china many big businesses are warning the new round of tariffs will be a direct hit to consumers but today the market rallied on renewed hopes of a trade deal. is the market putting too much stock a trade deal happening or is it the calm before the storm? guy. >> we addressed it last night. secita is with us. we were on "squawk box"a coupl of w

market site in time's square i'm joe kernon along with beck question quick also with us is steve grasso>> it's thursday >> we pulled you in. >> i can't get enough of you guys >> institutional sales at stewart franklin those can wait the futures are right now indicated up gee, you don't need to sell anything yet, i don't think. up 280 s&p indicated up 30. nasdaq up about 97 is the ten year back above >> 1.4 knife. >> not quite it's so weird. things go well the stockmarket goes up when rates go up. >> except for that, there has been a little of a separation between being concerned every time rates go down, just in the last week or so. >> if you seen those correlations leave, you seen the oil up, the dollar up, yields can go up, the market can go up. that's what we saw a couple days ago. you have to remember at the end of the month we have that rebalance, when the market gets hit, a lot of tension funds have to rebalance their money and put them pack into equities. we've seen that not only happen on the last day of the month, the last trading day the leadup into it that's part of what you

traders on the desk, sincere, brian kelly, karen finerman and steve grasso a major market sell-off, stocks plummeting as the president turns up the heat on the trade war with china, the president blasting china in a tweet at 10:59 a.m. eastern time. and look at the market reaction after that stocks plunged and never recovered. we finished the day near the lows of the session, all of this as fed chair jerome powell hinted more rate cuts could be coming due to the trade war. steve liesman is at the fed summit in jackson hole, wyoming, but we begin the washington where the president is expected to announce new actions against china. that announcement could happen at any moment. ylan muay is live with that? >> reporter: looks like that response is happening right now. the president put up several tweets, including one that said our country has been losing billions of dollars to china every year with no end in sight, and china should not have put more tariffs on 75 billion dollars on u.s. products that's politically motivated. he said starting on october 1st, the 250 billion dollars of goods an

down by 2.3% fast money trader steve grasso is tracking the action at the new york stock exchange and bringing back ron. what key levels are you watching >> so you have to look at the 200-day moving average we did the chart work the other day. you were on with me, as well it was 2800 in the s&p cash. so that's the key level that you want to look at. seems to me it's overdone but it is a friday. and, melissa, didn't we just do a hit the other night that when trump says one thing then the next day it's a 180-day difference >> yeah. >> why are we focused at what he is looking today where we understand the exaggeration that he made. he didn't say it properly. he never does. at the end of the day markets usually rebound. don't they >> i guess you can say that. at the same time, we know he'll make a statement sometime today, steve. >> he didn't order companies -- not to step on you but i see you're burning time. he didn't order companies out of china but to look for alternatives quite a bit of a difference. >> alternatives is still pretty disruptive to move a supply chain is disruptive anyw

joining us for the how is michael from ubs with us for the top of the show is steve grasso. the search for yield seems to be defi defining the action today. talk about what the interest rate move means for stocks. >> rea well, i mean, theoretically makes them more valuable because if you look at the earnings yield on the s&p, it's about 5% we're about 18 or 19 times but earnings somewhere around there. you've got a 10 year at 1.85%. you have an s&p yield that is now higher or about the same as the 10-year yield. that's compelling, but you seeing a flight to quality t to watch out for and take comfort from today is you're not seeing today gold and the dollar surge at the same time. that would be a double safety flight quality and a true risk off warnings sign. hopefully it's a sign that we don't have investors way off sides, way out of position, you know, with this. >> they're saying gold and the yen. >> yeah. it's true the dollar is actually flat have we learned the market cares more about trade than the fed? >> i think it cares about both the problem is, once we're done wit

reignites, what will it mean we've got steve liesman looking at the potential ripple effect steve grasso delivering a trader's take and rick santelliy watching bond land steve, start with you. >> yeah as the fedor worries about global economic weakness, it's finding out just how connected this world is weakness overseas having important effects in the united states take a look at these key gauges of manufacturing in china. they've fallen together. the u.s. pmi is from around 60 to around 52 growing though, but china's manufacturing index has dropped from just below 52 now in contraction territory around 49. what's happened to china that also effects what's happening in germany china's imports are down year over year. that's starting december a few mobts before that, exports from germany wednesday nelg. some strong trade and economic connections. let's move on. that could hurt germany. yeah, in turn, part of europe's concerns all this washes up where in on u.s. shares. yesterday's gdp data showed that data on the president obaositivy subtracted .7. the past four quarters have seen two sin

. >> grasso. >> the bright shining moment in retail, ross stars. >> you already picked that. >> thanks for being here, scott. great show tonight mckesson coming off a monster quarter. >> all right that does it for us, "mad money" >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer! welcome to "mad money. welcome to cramerica other people want to make friends. i'm trying save you some money my job isn't just to entertain, but put this one into context. call me at 1-800-743-cnbc or tweet me at jim cramer boom that's the sound of a 10% tariff hitting the 300 billion in chinese goods that were still duty-free. sounds a lot like falling stock prices, doesn't it the averages started strong. but after the news broke the dow ended up plunging 281 points s&p plummeted .90%, the nasdaq fell 1%. one fell swoop, president trump has given the hard liners exactly what they want if you import goods from china, he's making you pay, no exce

. >> john grasso, republican of wyoming. what if we modernize the nsa in a way that promotes states and allows local economies to drive, we have another voice here, peter, cottage new york , thank you for waiting , you're on the air. >> caller: i came in late on the conversation but as far as i'm concerned, it's encroachments into wild areas by human beings that is the biggest threat to the environment and to endangered species. i'm in my middle 60s, when i was a kid, the big who was overpopulation. now in 1990, 1992 traditionally we brought in about 250,000 people a year, legally into this country. now it's about 1,000,002. if we want to protect the environment, i think the smart thing to do would be to reduce our legal population, coming in and also do something about illegal immigration. because that's what putting a strain on the environment. now, evenas far as our farmers are concerned , the big thing now is that farmers thave to export their week and rain and soybeans to other countries. esand one big environmental pro

your traders on the desk are tim seymour, brian kelly, steve grals o grasso and guy adami one strategistwn to recession is officially on. he will layout the timeline and when he sees the markets up and out. box and williams-sonoma moving lower after reporting. later, a royal rally

the traders on the desk are pete najarian, tim seymour, karen finerman and steve grasso.rican consumer to the rescue again retail stocks surging into today's session, target handing in its best day ever we are keeping an eye on share of elle brands and nord strzok, on the move after recording results. nordstrom's conference call is getting under way. we will break down the highlights we begin with a big move late in the session in the bond market, another possible recession signal being shot as the yield curve inverts again.

your traders on the desk are steve grasso, dan nathan, guy adami.d by head of u.s. equity and quantitative, bank of america, merrill lynch, great to have you with us tonight. >> good to be here >>> the bulls taking charge on wall street in hopes of a trade deal sent stocks soaring don't break out the rally just yet. we one chart that could be

our traders on the desk are carter worth, tim seymour, steve grasso and guy adami we kick things offh a tariff takedown, that's what it was stocks tumbling late today as president trump turns up the heat on the trade war with china, the dow giving up a 311 point game to finish the day deep in the red. we have full team coverage of today's dramatic turn of events. let's begin with the latest out of the white house where eamon javers is live for us in washington. >> reporter: the president just talked to reporters on the south

we have it all coming up in hour joining us for the hour is steve grasso here at post nine good to seeou. >> good to see you. >> a wobbly session today in terms of the market. up on the dow. that didn't hold but we are also kind of oscillating off the lows here still within this month-long range. >> i think it's about yields german yields, negative yields around the world probably heading even lower from there and taking the equity markets with it. that's it from the 50,000 foot up and now trade headline, dudley today writing today and trump tweeting dudley in any other news day i think dudley should have been the focus from start to finish but when you have rates and when you have headlines on trade that kind of gets lost in the shuffle and been covering it quite well but that to me is something spectacular as a former fed official talking in those terms. that should be a knee jerk reaction to the marketplace. how divisive this has become and almost trump against the fed but realize boit realize both of them on the same side of the u.s. >> same objectives it is getting chatter and we'

traders on the desk, sincere, brian kelly, karen finerman and steve grasso a major market sell-off, stocksing as the president turns up the heat on the trade war with china, the president blasting china in a tweet at 10:59 a.m. eastern time. and look at the market reaction after that stocks plunged and never recovered. we finished the day near the lows of the session, all of this as fed chair jerome powell

david grasso, i love that, seduced, i think that's right. why?, by the way. >> what it is is that wages have been blocked and education, health care and housing continue to go up. i know there are some cultural things that people come after our generation for, but the statistics speak louder than words. it has been difficult for us to thrive, and a lot of people see that with their own children in their own household. jedediah: here's the thing i don't understand though, young people typically -- especially when you're talking about college-age, mid 20s, they don't like being told what to do. i've been a teacher, they want to do their own thing, get out this in society and make their mark. do they not realize that a lot of these programs, that is government coming in and dictating to you what your health care's going to look like, etc. so why is that appealing? i feel like they should be rebelling against this. >> well, because, you know, young people -- these are old, recycled ideas, but we haven't been around that long. 90% of people are covere