phil flynn and the fed, are we that interest rate sensitive, phil? been hearing from the fed for months, actually two years, we knew this was coming, none of us should be surprised by the fact the fed is going to start raising rates this year. maybe one more time than we expect. >> we predicted that the fed would have to raise rates four times. bottom line is that the fed telegraphed this beautifully, and did seem to be when there was a change at the helm when janet yellen left and brought in a new guy at the fed, it created concerns, talk about overvaluation. what we're going through here is a healthy correction, this market had gone up too strong, too quickly, shouldn't be fearing higher interest rates. we should be welcoming them. borrowers have been dying for higher rates. i know the commodity exchanges love to have higher interest rates because it's good for the bottom line. there is pricing power. back to what charles said about home depot. that's something we haven't had for 10 years, pricing power. people are able to raise prices, that's a go

trade to phil flynn is coming up in just a moment.prices, but in the markets as we continue. and i will be interesting to watch throughout the day. phil is coming up next. keep it here, breaking news on "fbn:am." dow futures stabilized. connell: breaking this morning as we look at these markets in everything on the order of breaking news. take a look at oil which we do watch, senior market and fox news contributor joins us. 63.86, the price down 29 cents but much more from a broader person active. bill, and you like this environment, by the way? is this volatility we are going through, so is joining us on the phone. what do you make of that question aren't >> volatility offers opportunity when it comes to future traders options, but when you could a big change from practically no volatility to high volatility, there's a period of adjustment. look at the big spike in the vix index and it shows you a lot of what is going on based on fear and not reality. connell: that was something at the end of the day in vix. what are you watching at

liz: phil flynn, give me your sense of what's going on? >> i think we're through a period of indecision and inconsolidation. we had our 10% correction in the stock market, and now the market's trying to decide whether we're going to go higher or lower, and really haven't gone anywhere? we've seen a lot of fluctuation day to day but the market is holding ground. to me, it's a very, very positive sign. you know, and as far as ray dalio's call that we may go in a recession in two years, that's like trying predict the weather in two years. we might get cold next week or a year down the road. we're overdue for a slowdown in the economy and after a long cycle. it's not the end of the world if we get a slight recession, a normal part of the business cycle. if you look at energy inventory number today, we're not anywhere close to a recession. we have smoking demand in the u.s., smoking demand globally. if oil inventories were really a predictor of the future economy, things are looking really strong and getting stronger. liz: we saw a surprise dra

more than 1% where it's 60.50, let's bring in phil flynn, phil, what do you make of the pressure thatare sitting on a contract in. >> you know, i think there's two things here at play, some of it is about the fears about supplies rising, u.s. producers are producing record amount of oil and i think it's more about turmoil and fear and we see the market selloff as dramatically as it is, may slow oil demand and business, a lot of fear. but i think like the stock market, i believe this is overdone a little bit. probably strong bold market like we are in stocks and stabilize and we could see a bounce-back. >> you're seeing, of course, the reaction from the dollar over to the oil contract and the effect on gold, let me ask you about the move out of china and maybe it doesn't have anything to do with the pressure we are seeing on oil right now but they will start future's trading on oil contracts march 26th of this year, is that having any affect on the mentality? >> i think it is, china has been trying to start a future's contract for many, many years, over 25 years. so far they haven't be

let's bring in phil flynn. chris just mentioned oil. listen, i hear we get the rig counts in the weekly inventories, i still get the feeling there's this overall sense that we still have a lot of supply out there thanks to the show producers. >> i think that's a dangerous misperception that a lot of people feel. if you look at, were talking about record u.s. production. here we are where supplies are not building like they should. there is a problem out there. if we are producing so much oil, why aren't inventories. [inaudible] supplies have plummeted to only 32 million barrels. that's the lowest level we've seen in like five years. if we are producing all the soil, where is it going? it's going to a strong global economy and is overtaking this new supply. let's hope these guys keep producing because we will need every drop of oil the way things are going. next week, the big thing will be, is this the end of the russian probe or the beginning. if this is near the end that i think these markets will scream next week because this has been

the year is on inflation with the finance ministers voting on phil flynn will become the central banker's next vice president. good morning to you. who do you think will win the vice presidency? >> good morning. economist,regarded philip lang, he has a background in politics and we know that some people don't like that transition from politics to the central bank, but he is a front runner right now and we could where he drops out before the vote takes place. it is political and it looks like he will win. there is no purchase in the side of the table. the markets want to know if he is more hawkish and if he will grab on the coattails of the yen environment. >> yes. and we don'tdovish references and he wants to be presented as someone andis a little bit hawkish it is interesting to see what happens if he gets this. to strike ae way what it means for the presidency. >> thank you very much. the battle was important and laid a greater piece of positioning. for us, will someone come in and get rid of the ridiculous stimulus? the negative rates with the ongoing qe and the strong economy. >> you

to the floor show, phil flynn, give us where you see the biggest bubble in the market right now? >> you know, it's not in oil. people are saying oil, it's got to be oil. but actually i think it's in the same stocks. they led the market up. they are way ahead of the marketplace, and if anything is going to hop, they're going to pop. bad news out of facebook, bad news out of some of the other stocks in the fang right now, and earnings are going to be key right now. i think if anything pops it is fangs, facebook, apple, and apple has the federal investigation on trying to slow down the old iphones, and i think there's trouble ahead for the fang. liz: elliot warren, and where do you see a bubble? >> well, liz, you know me. i disagree with that first speaker. liz: i do. >> you and i will be getting crushed this year because we've been short crude this entire time. crude is not a stock, okay? not simple, but there is math behind crude that does not happen with stocks. there's x-amount of oil around, x-amount of demand for it. right now, there is tons of oil around and we're at record p

phil flynn is watching the action from the cme. first let's go straight to nicole petallides on the floor of the new york stock exchange. nicole, what are you hearing from traders about tomorrow? >> well, tomorrow, right, first of all they're trying to digest today. i will tell you i spoke with the president of the new york stock exchange tom farley, what happened today? because we dropped nearly 1600 points at one point. we saw exasperated selling in just a few minutes, within ten minutes of selling. his first point, the first point he wanted to make, we saw smooth trading here at the new york stock exchange on heavier than normal volume. in fact i just spoke to a spokesperson. we cross ad billion shares, 1.1 right now. that is roughly double a normal day. there was some very heavy volume. tom farley, really, really accentuating the fact this was smooth and orderly. are you worried about over 1000 point drop? he said, no comment. traders what they're thinking tomorrow, david and melissa, they're really feeling okay with this they

to quote phil flynn, maria bartiromo, could be this -- could this be the turnaround? maria: you are right. a little rally underway. things are really bouncing right now. we will check that out. good morning, everybody. thanks for joining us. i maria bartiromo. top stories right now 6:00 a.m. on the east coast. another plunge overnight and across the globe yesterday. u.s. market tumbled. single day point decline closing down nearly 1200 points. both the dow and s&p 500 went to the years games with the decline yesterday sending shockwaves across the world. market took a real nosedive. the nikkei average in japan down almost 5% overnight. hang seng in hong kong done better than 5%. europe this morning declines across the board. things are off of the lowest bft 100 hitting the lowest level in a year earlier down almost 2% right now. the cac down 1.8% in the dax in germany down 120% as well. collective futures because this is where we see a little bit of a bounce. the dow was down 200. dow industrials 1057 points. s&p and nasdaq is positive. and the nasdaq up right now wit

. >> jill stein the one who sat at the same table at vladimir putin and michael flynn and twitter pointed that out. phil mudd, the president has tweeted 12 times since this indictment came out. no pushback to russia. what would you like to have seen from your president with proof that we were attacked, that our election system, that our democracy was attacked? >> the president has a responsibility not to protect himself but to protect us. he seems to believe that if something criminal puns his victory, something impunes his character for example, that his campaign cooperated with the russians than that's more important than protecting us. the comment, as commander-in-chief of this country my primary responsibility is protecting the american people. i will do a few things at least three things to accomplish that. i will speak to the american people in advance of 2018 and 2020 elections to tell them how to protect themselves. number two, i will speak bluntly to the russians to tell them to stop this and i'll speak to congress to figure out how to be tougher on the russians and point three i will tell my n

phil rucker, thank you so far starting us off. when we come back remarkable reporting from the white house that reads like from the late great vince flynn, a spy in the biggest political story in america. >>> and donald trump orders up a parade as the nation's commander in chief, the pentagon is now working to make his wish their command. but is that how any of this is supposed to work? ♪ if you have moderate to severe plaque psoriasis, little things can be a big deal. that's why there's otezla. otezla is not an injection or a cream. it's a pill that treats psoriasis differently. with otezla, 75% clearer skin is achievable after just 4 months, ... with reduced redness, thickness, and scaliness of plaques. and the otezla prescribing information has no requirement for routine lab monitoring. don't use if you're allergic to otezla. otezla may cause severe diarrhea, nausea, or vomiting. tell your doctor if these occur. otezla is associated with an increased risk of depression. tell your doctor if you have a history of depression or suicidal thoughts, or if these feelings develop. some people taking otezla reported weight loss. your doctor s

with miami memoli and phil rucker, that she was around for virtually every important meeting that the president had. so if those conversations were taking place at mar-a-lago with flynn, there's a reasonably good chance that hope hicks knows something about those, too. >> and this came up the other day, because the democratic memo was released. and it showed the investigation into donald trump began, in the campaign, began four days after he said, at that press conference, which i was at, which said, russia, if you are listening, find those e-mails. >> right. >> could investigators be going to someone like hope hicks and saying, what did donald trump know at that point? >> oh, absolutely. there's no question that in an investigation like this, when you're trying to figure out who knew what when about what, you ask everybody who might be a witness to various conversations and other things about what they saw, what they heard, meetings in which they participated. as you said, katy, she's the person who's outside of his own immediate family has been with him the longest in the white house. >> let's talk about rick gates. there's news that some of his charges are going t