live from the nasdaq market site overlooking new york city's time square i'm melissa lee. tim seymour, guy adami and pete najarian the fcc has approved a $5 million fine for the facebook giant. plus johnson & johnson not out of the woods yet, the doj launching a criminal probe into what the company knew about the cancer risk in the baby powder first we start off with judgment day for the markets. stocks soared to all-time highs as earnings get ready to kick into full gear next week with the banks ready to report but names like netflix, microsoft, ibm, all on deck will earnings season spark another leg of the rally or could it derail this market? guy adami. >> i mean here i'm going to say it is going to derail it because i have been obviously bearish. i think the markets are all over incorrectly for quite sometime, but for the life of me i can't believe earnings -- you will be able to build momentum from what we have seen on the back of earnings, which at best will be tepid. we have seen the preannouncement. maybe i'm wrong, made guidance will be good maybe we will get some

"power lunch" with tyler matheson and melissa lee begins now. >> i'm melissa lee breaking news on the economy moments away in the meantime, where we stand right now. the s&p 500 down by a quarter of a percent, the biggest loser of the major three indices. to steve liesman for the beige book report. >> expanded at a modest pace some districts have seen healthy expansion. others said activity declined modestly or was flat overall, however, the outlook was positive for modest growth in the months ahead. two very big issues in the beige book here. tariffs and labor shortages. i'll go through each separately. on the tariff issue, widespread concerns about trade-related uncertainty. you heard the federal reserve chairman talk about that quite a bit. there were some increases in input costs from tariffs and rising labor costs, as well. but competition was set to restrain the ability of the manufacturing of those payment tariffs or higher labor compensation to pass that along. some of the details we saw was like philly and cleveland. richmond said there was strong volume at ports as there wer

i'm melissa lee. the nasdaq, the big winner today with tech stocks taking the lead as chip stocks rip higher, and check out the dow downers today. boeing falling after fitch cutting its outlook for the giant to negative. pointing to the uncertainty around the 737 max grounding and johnson & johnson taking a hit about 1.5% as the company fights thousands of claims around its baby powder we'll have much more on that story much later on. kelly. >> thanks. the fed is entering its blackout period ahead of the july meeting next week, so there will be no more fed speak before that decision but it's not stopping the president from weighing in he tweeted earlier today in favor of a rate cut, saying the fed raised rates far too much and too fast it appears the great rate debate is still raging. steve, what the data reveals, to cut or not cut >> that blackout period applies to fed officials, not journalists. there are two powerful but opposing arguments out there to cut or to stay on hold. let's look at the case

. >>> i'm melissa lee. the latest comments from the fed have investors scratching thei head about rate cuts ahead the president giving his two cents on the subject, too. plus, we works ceo cashing out over $700 million ahead of the company's big public debut is this a bad sign for the ipo later, a top gun reboot taking the internet by storm as "the lion king" live action movie hits the silver screen but if hollywood is out of fresh ideas, is the box office in the danger zone "power lunch" starts right now ♪ ♪ >>> let's get a check on the market stocks higher to close the week. the s&p 500 and nasdaq are on track for the worst week and shares of boeing, the big dow winner is up 4%. we'll have much more on that story later on. >> melissa, we begin with confusion at the fed and the president throwing another haymaker, the new york fed president john williams with some market moving comments yesterday interpreted by some as signaling an aggressive rate cut. the new york fed later walked back those comments. the

i'm melissa lee along with tyler mathisen and kelly evan. a make or break move for the rally.l getting ready to get grilled on capitol hill and the california earthquakes causing a lot of damage, disruption, and uncertainty. we could see more than 30,000 aftershocks in the months ahead. we have the potential impact and fixing america's savings crisis the father of the 401(k) lays out his new plan "power lunch" starts right now >> indeed, "power lunch" does begin right now. welcome, everybody, to the

i'm melissa lee along with tyler mathisen and kelly evan. a make or break move for the rally. fed chair powell getting ready to get grilled on capitol hill and the california earthquakes causing a lot of damage, disruption, and uncertainty. we could see more than 30,000 aftershocks in the months ahead. we have the potential impact and fixing america's savings crisis the father of the 401(k) lays out his new plan "power lunch" starts right now >> indeed, "power lunch" does begin right now. welcome, everybody, to the aforementioned "power lunch. i'm tyler mathisen all three major averages are on pace for a second consecutive day of declines. haven't seen that in a while the dow down triple digits at this hour. down 141 points. 175 points at its low earlier today. now, boeing and apple account for roughly half of those losses that you see right there the russell 2000 and dow transports have both been slipping back into correction territory. kelly. >> thanks. stocks are lower again today as apple drags down tech and the fed looms large. bob pisani has more at the new york stock ex

i'm melissa lee. here's what else is coming up. >> announcer: a big warning for your money why one top strategist is ringing the alarm as we head into the busy week of the earnings season. later game over at the box office what happened over the weekend that could have hollywood seeing stars? fast money is back after this break. this is also mia's pulse. that her doctor keeps in check, so she can find balance. this is mia's pulse, and now it's more stable than ever. this is what medicare from blue cross blue shield does for mia. and with over 80 years of healthcare expertise, imagine what we can do for you. this is the benefit of blue. they have businesses to grow customers to care for lives to get home to they use stamps.com print discounted postage for any letter any package any time right from your computer all the amazing services of the post office only cheaper get our special tv offer a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post office again! >>> w

meantime, "power lunch" starts about right now i'll give you eight extra seconds here, gang >> i'm melissa lee along with scott wapner new at 2:00, recession risks rising, where are central banks and investors ready? larry kudlow weighs in on the fed and american economy >> mexican made autos streaming across the border at a report rate what it means for trump's trade war, and going public in three, two, one virgin galactic's ipo set for blast-off. is this a game changing moment for the race to space? "power lunch" starts right now >> welcome to "power lunch." i'm scott wapner stocks down again. investors gearing up for chairman powell tomorrow the s&p 500 on pace for a third straight day of declines the nasdaq trying to snap a two-day losing streak. industrials the worst performing sector following a downgrade of 3m, and for more on all of this and what is sending the dow lower today, let's go to bob pisani at the new york stock exchange >> an important thing, scotty, here is we're down three days in a row, and this is not so much i would call searching for direction as i would say that we re

i'm melissa lee. you're watching "fast money" >> announcer: time to take cover or time to get in? why one top strategist says a pull back is coming. but that could be the perfect buying opportunity he'll make his case. and later, "a star is born". ♪ no, we're not talk being hollywood. we're talking china. we'll explain when "fast money" returns. these folks, they don't have time to go to the post office they have businesses to grow customers to care for lives to get home to they use stamps.com print discounted postage for any letter any package any time all the amazing services of the post office only cheaper get our special tv offer a 4-week trial plus postage and a digital scale go to stamps.com/tv and never go to the post office again! >>> welcome back to "fast money" a strategist says a pull back is on its way but resist the urge to sell. let's bring in chief market strategist welcome. what kind of pull back are we talk about >> almost like the may pull back it's not that -- first of all think of it in terms don't fight fed. why not follow the fed human nature there's always s

much more "fast" right after this >>> welcome back to "fast money" i i'm melissa lee. wall street wrapping up the biggest day in the season. one in ten reported results today. that got us in the mood for a little game of -- >> trade it or fade it. >> they jumped it, mel. >> come on. >> they pulled the graphics too quick. >> i went off script starting with american airlines, putting that aside, guy, karen, it was down more than a quarter of a percent trade it or fade it? >> trade it. i still did a great piece with the ceo where he talked about -- it was so focused on the 737 max, when will it be in service, when will it be in service i think there's so much noise and so much cloudiness surrounding that we can't see through to the '20 and '21 where they talk about good, free cash flow it is very cheap here. the demand is there. you know, i think it was -- it actually traded at much higher when it opened, 34 and change i would be a buyer right here. i like it. >> i agree it is the ugly duckling of the big three, i think is the safest terms we can use these days unless duc

i'm melissa lee. here's what's new at 2:00 on "power lunch." we're officially 24 hours away from what could be the first rate cuck in more than a decade, but will fed chair jerome powell deliver? >> plus, apple earnings on deck. the tech giant getting ready toreport after the bell. we'll tell you the three most important things to watch for. and we're about halfway through the season with about 75% of the kamps beating the street "power lunch" starts right now >> taking a check of the markets. they are climbing back after the dow fell about 150 points as president trump says this morning there's no trade deal with china just yet. shares of p&g, procter & gamble, up 4% after its earnings report. this is a record high for this stock. we'll have much hoar on that later on >> thank you very much with the dow just above 27,000, the president this morning saying we would be 10,000 points higher at 37,000 on the dow if not for the fed's actions. so with 24 hours to go until the fed decision, we know the president would give jay powell an f for his per

let's get to melissa and "the half." >> i'm melissa lee in for scott wapner a big moment of truth forit's 12:00 noon, and this is "the halftime report." >> get ready for amazon, alphabet and intel after the bell more than $2 trillion in combined value what's at stake for this tech trio and this market >>> airline anxiety. shares of american and southwest getting clipped. is more turbulence ahead for this group two things are happening in this market right now that may be signalling a strong rally ahead. how to position for a seco

i'm melissa lee. stocks have been struggling at this hour, but off the session lows the s&p 500 has been in a tight 14-point range for much of the session. it's been a flight to safety defensive sectors including real estate and utilities are leading the market, and gold is higher and rates moving lower rates falling below 2% once again. >> thanks. we begin with optimism on trade talks with china president trump's trade adviser peter navarro on cnbc earlier said we're headed in the right direction as the u.s. plans more tariffs on europe in the meanwhile. >> peter navarro is the white house's fire brand on china, so it was notable this morning after attending that u.s./china meeting that produced the weekend's truce, he said it's all good >> we're re-engaged. we're talking on the phone already. probably be visits it's all good. i think it was a pause that was necessary at the time, but this is very bullish for the markets. lower uncertainty in terms of the whole thing. we're headed in a very good dire

. >>> i'm melissa lee in today for scott wapner today at noon eastern on the "halftime report," the netflix debate is on is today a great day to buy the stock or do you need to wait plus, battle of the banks. which one's your best bet? and we're debating the industrials as one wall street darling plummets >>> and a double call of the day for you on apple and a key supplier halftime starts at the top of the hour we'll see you then jon? >> all right, see you, melissa >>> and soaring tech valuations have played heavily into the market's long bull run, but are they now a cause for concern longtime tech executive and venture executive scott darling now with dell technologies this week at our @work event that the trend is flashing some warning signs. >> this is a source of great debate these days. i would frankly say that we probably are in one of the frothier times it's dangerous to product these things, you know one of the ways you can lose out is to be overly value sensitive in a company that goes on to be a great success. but you do have to pay attention to this and we are and we have passed

i'm melissa lee, you are watching "fast money" on cnbc.t more "fast" right after this ♪ >>> we've got a news alert eamon javers in washington with the information. >> south korea reporting that the north koreans launched several identified objects, they're not calling the objects missiles just yet, off the coast. at this point not clear what happened off north korea, but it looks like this could follow on last week's missile launch when we saw the north koreans launching several ballistic missiles, short-range missiles off their coast that splashed into the sea at that point last week president trump said he was not concerned about the short-range missiles said it is fairly standard stuff for a country to do and said that his relationship with kim jong-un, the north korean dictator, was still on track and seemed optimistic about ongoing nuclear talks. now though the south korean media is citing south korean military sources in saying that the north koreans have fired multiple projectiles at this point no indication on what exactly it is th

i'm melissa lee.ou are watching "fast money" on cnbc we will be back after this quick break. ♪ ♪ >>> welcome back to "fast money" shares of chip makers qualcomm and lam research moving lower in after hours following reports after the bell let's get to jon fortt with the latest from the companies. jon. >> lam research is basically in line on top and beat on the bottom qualcomm missed on top and beat on the bottom. investors weren't thrilled with guidance from either one qualcomm is a bigger fish so let's start there. two things are hurting them, fresh love for huawei in china and slowdown here is the ceo on the call. >> as a result of the export ban, huawei shifted their emphasis to building market share in the domestic china market where we do not see the corresponding benefit in product or licensing revenue in addition, our customers in the china market are working through their existing 4g inventory and deemphasizing their second half 20194g launches as they shift priorities to their 5g launches in

. >>> "fast money" starts now looking at times square, i'm melissa lee. tonight, apple at a crossroads as the tech giant pivots are the best days behinds there stock? >>> transports in trouble, sinking back into a correction but there's one name in the group that chart master it says a screaming buy. >>> first, the markets and it was just last week that stocks were hitting fresh record highs. angelser singing, and it looked like there was nothing stopping this rally but it was a snap back to reality today as the dow sinks triple digits, down nearly 200 at the lows of the session the market rewinding as the fed rate cut hopes are dampened. wall street is getting more bearish as morgan stanley says to sell stocks now euro banks are in turmoil as deutsche bank takes measures to restructure. did it come too far too fast, and are we about to see a stock rewind guy? >> number one -- >> karen's back, you're -- everybody's back now >> gang's all here >> all here. >> and the matching outfit - >> matchy-matchy >> cute. >> what's wrong, dan i haven't seen you in a m

i'm melissa lee.ve been struggling at this hour, but off the session lows the s&p 500 has been in a tight 14-point range for much of the session. it's been a

"power lunch" with tyler matheson and melissa lee begins now. >> i'm melissa lee breaking news on thenomy moments away in the meantime, where we stand right now. the s&p 500 down by a quarter of a percent, the biggest loser of the major three indices. to steve liesman for the beige book report. >> expanded at a modest pace some districts have seen healthy expansion. others said activity declined modestly or was flat overall, however, the outlook was positive for modest growth in the months ahead. two very big issues in the beige book here. tariffs and labor shortages. i'll go through each separately. on the tariff issue, widespread concerns about trade-related uncertainty. you heard the federal reserve chairman talk about that quite a bit. there were some increases in input costs from tariffs and rising labor costs, as well. but competition was set to

be careful what you wish for melissa lee. >> did i wish for anything >> just saying in general. >> iknow what you're wishing for. >> saying once the genie is out of the bottle, i'm talking about the inflation genie, the party is over. >> that's ridiculous people have been saying that since 2009 and it has not happened. >> just saying. >> there are so many factors in play relative to last cycles where we saw inflation become a problem, look at your point -- >> a lot of technology -- >> -- deflation is at issue. >> look at japan, that's what ear 'fighting. >> gene ie or no genie. >> check out levi. wall street ceos are making big bucks while shareholders are left in the dust and it has one of our traders sounding the alarm. we'll explain. >>> later, more boeing fall-out as deliveries drop sharply but one top technician says the worst is over for the aerospace giant. he will tell us what has him pressing buy much more "fast money" right after this your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall

what's going on inside dispen dispensa dispensaries melissa lee as our lead story investigation, weed killers. >> reporter: it's a weekday afternoon in los angeles the epicenter of cannabis in the united states. this busy dispensary is open for business >> hi. >> reporter: but if everything looks normal, it isn't this is, in fact, an unlicensed, illegal dispensary part of the booming black market in california and around the country. it's what the cannabis industry says could be the biggest threat to sky high expected revenues. >> the legal cannabis market in air very short period of time is going to grow from 0 to somewhere in the neighborhoo of 50 to $75 billion. >> reporter: that optimism faces this reality an estimated $70 billion in illegal marijuana sales nationally seven times the legal market case in point, california. early projections of more than $1 billion in annual cannabis tax receipts in 2018 are far from the $345 million collected. that's in large part because the illegal market can easily undercut the costs of running licensed dispensaries. it's not hard to see how >>

nasdaq market site overlooking new york city's times square, i'm tyler mathisen in tonight for melissa leeraders are dan nathan, steve grass grasso investors gorging on restaurant stocks today, sending brands to new all-time brands. the consumer is healthy and hungry one trader says get ready to pop the pepto, serious indigestion could be on the way. beyond meat serving up another record high. could anything stop this sizzling stock later on, it is game on as the fortnite world cup kicks off $30 million on the line and we put tim seymour to the test with some of the world's top players and we'll find out how he did. we begin with breaking news out of washington just moments ago president trump talking everything from tariffs to apple to the dollar to fed chairman powell, just moments ago kayla tausche was listening in live at the white house. >> it was a grab bag of topics for the president just days ahead of the first round of face-to-face negotiations since a truce with china at the g-20 president trumpinjected pessimism into the outcome listen >> china will probably say, let's wait, it

melissa lee has a cnbc vestigation tonight, weed killers. >> reporter: it is a weekday afternoon in losepicenter of cannabisn the united states. this busy dispensary is open for business. >> hi. >> reporter: but if everything looks normal, it isn't. this is, in fact, an unlicensed, illegal dispensary, part of the booming black market in calirnia and around the country. it is what the cannabis industry says could be the big to sky-high expected revenues. >> the legal cannabis market in a very short period of time can grow from zero to somewhere in the neighborhood of 50 to $75 billion. >> reporter: that optimism faces this reality. an estimated i $70 billionn illegal marijuana sales nationally, seven times the legal market. case i point, california. early projections of more than $1 billionn annual cannabis tax receipts in 2018 are far from the $345 million collected. that's in large part bause t illegal market can easily undercut the cost of running censed dispensaries. it is not hard to see how. >> you guys ready? >> yeah. >> yes. >> okay. go. >> a team of cnbc producers equipped wit h

you are watching melissa lee on "fast money", first in business worldwide.n the meantime, here is what is coming up. >> either let us smoke we had, which is our right to do >> bye-bye. >> bye. >> canopy shares a falling after ceo bruce linton said bye-bye to the company. there's something tim seymour says wall street is missing about the move he will read the weed leaves. >> stick with us. >> a handful of stocks have been sitting out this record rally, but one of the traders says there's a big dow lagger about to catch up. he will tell us what that is much more "fast money" right after this ♪ limu emu & doug mmm, exactly! liberty mutual customizes your car insurance, so you only pay for what you need. nice! but uh, what's up with your partner? oh! we just spend all day telling everyone how we customize car insurance because no two people are alike, so... limu gets a little confused when he sees another bird that looks exactly like him. ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >>> welcome back to "fast mon

we're live at the nasdaq market site i'm melissa lee along with joe occur in an and mike santoli becky and andrew are on assignment take a check on u.s. futures right now looks like a down opening across the board dow indicated lower 129, s&p looking to be down 14, nasdaq down 55. of course building on the losses in yesterday's session overnight in asia, a negative day across the board hang seng down by three quarters of a percent nikkei managing to eek out a 0.01 gain. in europe, being weighed down by deutsche bank. red arrows across europe and treasury yields, since that jobs report, holding on to 92% level on the ten year and there we are again, 2.068% speaking of hong kong, leader carrie lam speaking out in an attempt to quell protests, she said the controversial extradition bill that sparked the demonstrations is, quote, dead lam said there is no plan to restart the legislation and earlier work to amend the bill has been a failure lam suspended the bill but protests continued with calls for it to be withdrawn completely lam did not say that she is officially withdrawing the bill.

i'm tyler mathison melissa lee is alongside president trump speaking just now about the defense department cloud contract where amazon and microsoft have been competing. let's bring in eamon javers at the white house. he ended on a busy note, eamon >> reporter: the president is talking about there the so-called jedi contract, it's about a $10 billion contract related to cloud computing for the pentagon amazon is seen as the front-runner for that contract it is a big, big number. here the president saying that other technology companies are complaining about the way it was handled. he'll take a look at it. he doesn't specify exactly what it is he's going to do about that contract or how it will be awarded but poses difficult business decisions for them. there will be a political overlay onto this as well, tiger. as you know the president is a robust critic of jeff bezos, irked by his ownership of "the washington post" which the president says he feels is unfair to him calling it the amazon/"washington post. this could be seen by the president's critics as an effort to get back at jeff bezos

we're live at the nasdaq market site i'm andrew ross sorkin along with joe kernen and melissa lee.ay. the dow looks like it would open off about 40 points. nasdaq down about 28 points. the s&p 500 also looking off, but we'll call it 6 1/2 points for now. let's show you what's happening overnight in asia. a board of green arrows across nge board.

i'm melissa lee along with andrew ross sorkin joe and becky are off today.n with us is ed lee, "new york times" media reporter and cnbc contributor thank you for waking up early. >> happy to do it. >> big show. don't let the futures fool you they're quiet at this hour ahead of the big jobs report dow looking to lose 31 at the open nasdaq down by 5 a lot can happen and a lot will happen between now and the opening bell in asia, quiet there as well in anticipation of the u.s. jobs data the nikkei up by 0.2%. the hang seng finished down slightly th

." >> i'm melissa lee in for scott wapner a big moment of truth for big tech it's 12:00 noon, and this is "the halftime report." >> get ready for amazon, alphabet and intel after the bell more than $2 trillion in combined value what's at stake for this tech trio and this market >>> airline anxiety. shares of american and southwest getting clipped. is more turbulence ahead for this group two things are happening in this market right now that may be signalling a strong rally ahead. how to position for a second half surge. >>> and what's not to like a slew of upgrades on facebook is it a big thumbs up for the stock from here? "the halftime report" starts right now. >> it's great to have you with us on this thursday. our investment committee today, joe terranova, steve weiss and john and pete najarian and portfolio manager ann brown. alphabet, amazon and intel all set to report earnings after the close. it could be a big day for the markets tomorrow, depending on what these three say pete, your feelings on amazon. >> i think it will be very interesting because of the fact that everybody --

i'm andrew ross sorkin along with joe kernen and melissa lee. is off today take a quick look at u.s. equity futures ahead of the market open still 3 1/2 hours away right now the dow would open up about 86 points higher nasdaq opening about 27, 28 points higher. the s&p 500 looking to open higher as well let's show you what's going on overnight in asia. we have a strong picture, pretty much across the board there. the nikkei, the hang seng, and the shanghai all up. >> check out

i'm melissa lee. here's where we stand with

. >>> i'm melissa lee.est comments from the fed have investors scratching thei head about rate cuts ahead the president giving his two cents on the subject, too. plus, we works ceo cashing out over $700 million ahead of the company's big public debut is this a bad sign for the ipo later, a top gun reboot taking the internet by storm as "the lion king" live action movie hits the silver screen but if hollywood is out of fresh ideas, is the box office in the danger zone "power lunch" starts right now ♪ ♪

i'm melissa lee. we begin with breaking news.reasury secretary steven mnuchin set to hold a news conference any moment otthe white house about crypt okurancies we'll bring it to you live as soon as it begins. ylan maya joins us not too many details out so far. >> this is a little bit of a surprise, but fed chairman jay powell said this is an issue that fsoc intends to take un, so we'll see if the secretary provides us any additional information there. we know that david marcus, the head of calebra for facebook will be testifying on capitol hill tomorrow. his testimony came out today in which he struck

. >>> i'm melissa lee in for scott wapner today at noon eastern, the world's biggest money manager saystocks are going much higher from here we've got the best ideas for your money right now and microsoft is on cloud nine, hitting all-time highs the other cloud names that are in play. and it is the call of the day. this payment stock is up 40% this year. why it may rally double digits from here. we've got lots to talk about this friday. jon, we'll see you at the top of the hour >> cloud nine. i like that. see you soon, melissa. let's get to nasa. their long-term plan, returning to the moon, colonizing it, putting in a rest stop and getting to mars. morgan brennan has more from the kennedy space center in florida. morgan >> reporter: i couldn't have said it better myself, jon in the '60s and '70s, there was apollo today, it's artemus. this is wildly ambitious, to put a man or a woman on the surface of the moon in the next five years. establish the moon as a way station to go to mars and for other deep space exploration so one of the companies that was working on apollo 50 years ago and i

we're live at the nasdaq market site i'm melissa lee along with joe occur in an and mike santoli beckyssignment take a check on u.s. futures right now looks like a down opening across the board dow indicated lower 129, s&p looking to be down 14, nasdaq down 55. of course building on the losses in yesterday's session overnight in asia, a negative day across the board hang seng down by three quarters of a percent nikkei managing to eek out a 0.01 gain. in europe, being weighed down by deutsche bank. red arrows across europe and treasury yields, since that jobs report, holding on to 92% level on the ten year and there we are again, 2.068% speaking of hong kong, leader

"power lunch" starts right now >> see you in a minute i'm melissa lee along with tyler mathisen the s&p 500 hitting a new record high, but a big pullback will the bulls keep charging the u.s. and china declare a trade truce, but the hard work begins now we'll tell you what's next >> and mortgage rates getting back to record lows, but the affordable crisis still shutting out homebuyers what they're doing to get around that, and it might surprise you. "power lunch" starts right now >>> and welcome, everyone, to "power lunch." i'm tyler mathisen glad you could join us on a summer monday. a new trading month, a new half, and record highs for the stock market, but we're off the session highs, as melissa just mentioned. the dow was up 290 points earlier. apple leading the dow, boeing, the biggest dragger. and chip stocks soaring on that trade truce. kelly. >> tyler, thanks the rally is losing steam. let's get to seema moda on the floor of the new york stock exchange with more on the action this hour. >> hey, the key question for the market is whether those talks between u.s. and chinese off

i'm melissa lee. your traders are on the desk tesla, the company set to report its second quarter delivery numbers any day this week. after a 30 puerto rico rally after its low did the stocks come too far too fast. >> one china bull says it could be a good time to buy china. >> dow jumping more than 115 points nasdaq and tech up 1%. we've seen this story before the s&p 500 keeping its head above the highs and preparing to launch is the next leg of the rally all about the fed? >> i think it has been all about the fed. tariffs were maybe 20% of the story. i think for me it's about the fed. the fed is in the back pocket of the market the tariff story can only get better from here yes it's about the fed higher markets from here going forward. >> why can the tariff story only get better from here >> we factored in the negativity on the tariff headlines. we've already seen those at worst, right or you don't agree. i do >> tell you what i think you're right in terms of headlines, mark. it's digested months a

." >> thank you, carl i'm melissa lee in for scott wapner trade talks, the fed rate decision, the jobsort, and the busiest week of earnings, it is noon, and this is "the halftime report. >> announcer: the fed getting ready to cut rates for the first time since the 2008 financial crisis will it be a green light for this record-breaking alley to keep going >>> a big warning for boeing over the handling of the 737 max groundings the risks still facing the company, and airlines. >>> apple leading the earnings avalanche. the stock up more than 30%hi

i'm melissa lee. here's where we stand with the markets. stocks are hovering slightly, a mixed bag. dow is slightly higher, up .2% s&p 500 is down .2%, and had nasdaq down by .6% it's the defensive sectors leading the way today. real estate, health care, consumer staples, which by the way, hit a fresh all-time high today. tyler. >> thank you very much, melissa. the big story we're watching is what will the fed do and how will the markets react we have been talking about it for weeks, maybe months now. we're less than 48 hours away from one of the most anticipated fed meetings maybe ever. steve liesman will be there to bring us the news, but he's here now to bring us some analysis. steve. >> i think the context for what you're saying, tyler, is the fed is meeting under extraordinary circumstances with markets screaming for a rate cut, and unprecedented political pressure from the president of the united states in fact, with the fed on the verge of giving the president the rate cut he's campaigned for for months, the president tweeting out this morning that that's not enough. he said,

i'm melissa lee. here's what's new at 2:00 on "power lunch."ially 24 hours away from what could be the first rate cuck in more than a decade, but will fed chair jerome powell deliver? >> plus, apple earnings on deck. the tech giant getting ready toreport after the bell. we'll tell you the three most important things to watch for. and we're about halfway through the season with about 75% of the kamps beating the street "power lunch" starts right now >> taking a check of the markets. they are climbin

"power lunch" starts right now >> see you in a minute i'm melissa lee along with tyler mathisen the s new record high, but a big pullback will the bulls keep charging the u.s. and china declare a trade truce, but the hard work begins now we'll tell you what's next >> and mortgage rates getting back to record lows, but the affordable crisis still shutting out homebuyers what they're doing to get around that, and it might surprise you. "power lunch" starts right now

welcome to "squawk box," i'm melissa lee along with andrew ross sorkin. >> you know criss-cross?generational as well as a cultural divide perhaps. >> was criss-cross not big in britain? >> not in the frost household. >> fair enough. >> maybe across the u.k., i don't know, but i don't think so. >> we'll jump jump a little later. >> i'd like to see you do that let's take a check on u.s. equity futures, the dow, nasdaq, s&p 500 coming off of record highs. the dow looking for its fourth record close of the year, the s&p 500 trying for its 11th record close the dow looks to add 14 points

i'm melissa lee. welcome to "power lunch. new at 2:00, a battle on three fronts the war in big tech, facebook paying up to $5 billion for its privacy violations while the doj opens an anti-trust review is big tech just too big then a market tug of war earnings take center stage as caterpillar and boeing sink. but is the fed the only thing that really matters? we'll debate that. plus, a battle for the soul of tesla. one bear, one bull they face off ahead of results after the bell "power lunch" starts right now ♪ ♪ what is it good for ♪ absolutely nothing >> what a song from my youth edwin star, "war, what is it good for." welcome to "power lunch," i'm tyler mathisen and i date myself proudly, ladies and gentlemen the dow at its low, now down 123 or about a half percent. but why? well, it's basically boeing and caterpillar. s&p 500, it is higher by about a fifth of a percent and nasdaq higher about a half percent. those are sitting at record levels the nasdaq, i should say, despite the hurdles facing big tech as the doj takes a

i'm tyler mathison melissa lee is alongside president trump speaking just now about the defense department cloud contract where amazon and microsoft have been competing. let's bring in eamon javers at the white house. he ended on a busy note, eamon >> reporter: the president is talking about there the so-called jedi contract, it's about

with the dow down 129, we will see if it is a false breakout or more consolidation let's get to melissa lee and the half >>> the big debate on the day focuses on a faang stock, 72% off its 52-week high is there opportunity in netflix? >> the great netflix debate is on is today's drop your chance to buy in or does in company have an over saturation problem plus, another big bank beats this time morgan stanley but is something lurking underneath the surface for the financials one "halftime" regular has a serious warning about the group. the double call of the day, apple and a key supplier the investment committee is ready to go. "the halftime report" starts right now. ♪ >>> it is great to be with you on this thursday our investment committee today, joe terranova, steve weiss, jon najarian so the question here is what do you do with netflix. is it a preview of what is to come in the coming year when netflix faces more competition doc? >> well, it is interesting, mel, that their pricing power we all -- at least many of us, i was one of them, thought that he had that pricing power, that disney o

. ♪ >> "fast money" starts now live from the nasdaq market site overlooking times square, i'm melissa leetonight, the s&p 500 closing at a record high for the second straight day as a bull run wages on there's one name that has lagged the market for the last decade that the chart master says is about to break out you won't believe what it is we start off with breaking news out of tesla charging higher, the company reported delivery numbers moments ago, record ones at that let's get to phil lebeau with the latest on this >> melissa, elon musk said they were close to setting a record for second quarter and they did that here are the important numbers people are focusing on this afternoon. total deliveries at 95,200 the model 3 numbers, this was what everybody was focused on of all of these, 77,550 for some context here, wall street expected 74,100 so they blew past that number. model s and x stronger than expected, coming in just over 17,000 there's good news regarding the backlog. in the release, tesla says orders generated during the quarter exceeded our deliveries, thus we are entering q

live from the nasdaq market site overlooking new york city times square i'm melissa lee we have guy adami, rana novini tonight on caps, stocks at record highs now is the time to put on your pull we'll explain why. earnings season about to kick into gear and three names we will be told to buy. we start off with the market at record highs, the dow cruising through 27,000 for the first time ever as wall street waits for the highly-anticipated rate cut. tech sold out. the nasdaq hitting a record high before reversing lower as big tech is under fire the white house is hosting a summit targeting social media giants can tech rally in the face of the major headwinds or is the group handcuffed so many options as to where to go guy, what do you say >> first of all, this is unbelievable actually -- >> no. >> it was years ago -- >> it is interesting that, you know, billy joel, great artist and you played potentially his worst song. >> i knew you would say that. >> thank you. >> up town girl. >> excellent point. >> terrible song. >> with that said, can you still buy tech here? i think there's still an

. >>> i'm melissa lee in today for scott wapner today at noon eastern on the halftime report, the monstereek for earnings. about a quarter of the companies in the s&p 500 set to report, including facebook, amazon, and alphabet we'll get you set up plus, apple getting a big upgrade ahead of its results, but boeing's numbers cut ahead of its numbers and it is the call of the day on the chip stocks and we'll trade it that and much more on the "halftime report" at the top of the hour deirdre, back over to you. >> looking forward to it let's get over now to the cme and rick santelli for the santelli exchange. what have you gott for us, rick? >> well, deirdre, many traders, including myself, are wondering if 2% is really going to be a stopper this time around we know we had a couple of closes below 2%, right in the mid- to upper 190s but real point is, as we all question our own monetary policy and try to divine where the charts are pointing for the next big level in treasuries or the yield curve, we almost forget the elephant in the room and the elephant in the room are all the other than sove

live from the nasdaq market site, i'll melissa lee traders are guy adami, steve grass owe and pete najarian. facebook reporting after the bell that stock seeing a bis reversal as the conference call is getting under way. julia boorstin is standing by in los angeles. we will get to the red phone in a few minutes. we get started with the big after hours mover so far and that would be tesla. look at that down 11% right now let's get to phil lebeau in chicago for what is moving this stock. phil >> reporter: melissa it is not just that the q2 loss was greater than expected, tesla losing 1.12 per share. the estimate was for a loss of 1.40 a share the estimates were all over the map, a wide range there. revenue coming in at 6.35 billion, a little shy of expectations it is the automotive gross margins that will get a lot of attention here they came in at 18.9%. remember, the concern was those margins were going to be squeezed as they were pushing out the model 3, was that push to make deliveries of more than 90,000 going to hurt margins coming in at 18.9% when many people were looking for them to b

." >> thank you, carl i'm melissa lee in for scott wapner trade talks, the fed rate decision, the jobs report, and the busiest week of earnings, it is noon, and this is "the halftime report. >> announcer: the fed getting ready to cut rates for the first time since the 2008 financial crisis will it be a green light for this record-breaking alley to keep going >>> a big warning for boeing over the handling of the 737 max groundings the risks still facing the company, and airlines. >>> apple leading the earnings avalanche. the stock up more than 30% this year can it keep rolling on >>> "mad money's" jim cramer is with us for the hour "the halftime report" starts right now. >> it is great to have you with us on this monday. our investment committee today, joe terranova,ster know, and jon najarian and cnbc's jim cramer, host of "mad money." always great to have jim on the desk earnings economy and rate decision front and center and president trump firing off on the fed once again tweeting that the fed raised rates too early and too often and said a small cut isn't enough meanwhile janet yel