. >> final trade steve grasso >> that's going to see following through in the coming weeks. >> a lotople going to the atl. you buy coca-cola drink it, too. >> guy >> be safe in south florida. i know they're watching. right? i mean, i think we all share that be safe. and kroger for a trade >> that does it for us here on fast we'll see you on monday. options actions starts right after this break stay tuned listen up, heart disease.) you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. [car tires screech] [bell rings] stay with me, mr. parker. when a critical patient is far from the hospital, the hospital must come to the patient. stay with me, mr. parker. the at&t network is helping first responders connect with medical teams in near real time... stay with me, mr

just last week, we were talking about avis and steve grasso made a bold call he said that it was a double and then the next he said it was at least a double. >> i think the whole -- >> on top of it. no, eventually, a double on a double then a triple but if you have to look at this, the head wind for these car companies has been used car pricing. so, rental numbers are going to increase trz and used car prices are going to go higher from here >> so you're going to see massive upgrades in the space. goldman flirted with it today. you start to see real bears that have been out here on this show start to move their price targets up, 45% short interest >> why is demand going to pick up when it's been falling apart? hurricanes aside, i get what's going on everybody gets that. but i'm looking at two or three months past hurricane season back to the same secular trends against these cars they firm up why do they go higher? >> how about used car prices >> how about them? >> higher or lowlower? >> even in the face of fact, you think they're going lower? because they're going higher >> what's the tr

us today from picktat asset management at post 9 sitting next to new york stock exchange trader steve grasso and jack from ucx is with us from the cme in chicago. steve, of course, the dow had its best week of the year last week and, of course, it continues higher today >> trend is your friend, right >> we haven't had a 3% pullback, even a 5% pullback, in -- >> when we have a 1% pullback, it feels like we're at a bear market so everyone just jumps right back on, you buy those dips, still in the buy the dip mentality. if we were to have this conversation a couple hours ago, we would have been talking a iiu the trends and how the markets keep moving over those big numbers, big fat round numbers 2,500 in the s&p cash. >> funny how it closed right on that number on friday, right >> everyone shoots right for it, all the open interest staggers around those numbers we see this latest bit of hit coming on facebook as you guys introed, a lot of large cap tech names are coming under fire. people are looking for cover somewhere else does that last a week? >> safe harbor, ironically. >> does it last a w

at 13.11, up slightly let's talk more about market action joining me on the cnbc news line is steve grasso, cnbc analyst and director of sales at stewart frankel. good morning >> how are you >> very well i want to kick off the move up in yields. 0.2% move higher in yields in about 2 1/2 weeks. coming into a fed meeting. what's driving that move higher in yields? is it a bullish sign for equity markets that yields have been ticking up >> i think it is a bullish sign. we've seen dollar yield, as you mention, we've seen oil dollar, we've seen correlations, sometimes be on, sometimes be off. you can't invest in that you need something more consistent i think yesterday when we saw the financials lead, maybe there will be a misstep, maybe the fed will raise and i shouldn't say misstep. i think that the finance community is worried that the fed will go on this rate rise cycle that will be much to the chagrin of the equity markets. maybe too fast but i think the case is rotation will we see the financials outperform based on the fed or is this the blink of an eye type episode. >> does tapering ver

. >> how you >> i'm on the floor with steve grasso. >> book ended the markets. >> much better tone of the markets actually than what we're seeing now what do you make of that >> i think people are digesting. we had the -- we went from watching everything but the fed to now myopic on the fed and the unwind and we got past the north korea for a while. couple of weeks ago. those fire and fury statements and now we're back on focused on the what-ifs in the marketplace, isn't this a great time to lock in profits so many days of record high. >> that's exactly what i was going to say, coming off a nine-day win streak, we're up 14 of the last 16 you don't get streaks like that often so this is not that serious in that context. down 38. >> sure. it's almost like when you go to the casino and keep betting on the same number at the roulette table, eventually it's got to come out whether you look at red or black, eventually you got to have a red day i think that the market is incredibly resilient hanging in there with everything that we've talked about, everything we talk about on a daily basis.

. >>> fort folio manager at eaten vance, steve grasso from post 9, and rick santelli checks in from the cme as well. so, steve, i should point out the yields have come back as well a little bit. so how do we put this in perspective? yesterday we were concerned about north korea. expectations for irma, what do we say about today >> i they all those are the major concerns that the market is still battling with, but it was the top story and it was d.c. and trump, president trump making a deal with the democrats, which was seen as quite unlikely the republicans can't seem to figure it out among their own parties. >>> and i do believe that the path of least resistance is still higher people are buying dips north korea, and every dip has been viable. >> yana, you agree with that >> i certainly do. i think i agree with the fact there's some level of skepticism that has crept in, which we think is healthy when you think about the sentiment there's few fracturors we follow. one is basically a survey of investors and the markets are six months owl right now 775% of all that responded said they're

part of our closing bell exchange, steve grasso and rick santelli checks in from chicago. steve, watching the sausage being made in washington, and it's a day when the stock market after two decent rallies, days of rallies, is resting here. >> it's resting right on all-time highs i don't think this is, this is a losing day, you can't say that this is a bearish day. even the whole movement in the stock market today was driven by what we just discussed, which was tax policy or the idea that tax reform will take place, but i think this is now from a point of strength. talking about the upper income levels, i don't think that's going to sell with republicans i think that's going to cause more fractures within the republican party and it's not going to be overcome by a handful of democrats going on board with it. if you look at where this is coming from, kevin brady, paul ryan, they introduced border adjustment tax that didn't go over well mortgage interest, that didn't go over well when they floated that balloon, and what about the 401k to kelly's point, there are a lot of thin

our "closing bell" exchange, chris johnson from johnson research group steve grasso with us at post 9 rick santelli checks in from the cme in chicago as well it's a mixed day, steve, we've had gains for the week for the most part for a lot of these sectors. financials have done well. but apple has been a big laggard this week. what do you make in the aggregate, what's going on >> i would say the aggregate we're still at 2,500 in the s&p, huge battleground for stocks. >> right. >> in my opinion, it's good breakout or breakdown is good for probably a 2% move we've kept a lot of people on the sidelines. when you have markets that aren't moving as volatile as they would like them to move, you sit on your hands. you don't do anything. but when you look at apple, remember that -- the facial recognition glitch that they had during their presentation, i truly believe that that really opened up the sellers. everyone said, you know what, let's start ripping through it here, no reason to upgrade, let's start looking at numbers if they didn't have that glitch, this stock is at 160 range and that'

p is in record territory joining our "closing bell" exchange, mark lehman from j&p securities, steve grasso at post 9. rick santelli at his perch at the cme in chicago steve, we're calling it a relief rally. i mean, all these things we are concerned about going into the weekend didn't quite materialize as feared. north korea being one, of course, and then, you know, the sbimtss fo estimates for irma were maybe as much as $120 billion in damage now looks more like $30 billion to $40 billion you know, not as bad but still bad enough for those affected by this what do you make of this rally today? >> reporter: right, all your point of reference, right, so whether it was $120 billion or $200 billion or the forecast or the estimates, when you look at the rally today, it just stands and speaks to the pent up demand for equities, bill people have to stay invested in this marketplace it's their best bet for a return you don't see rates going anywhere as a matter of fact, it's less likely the fed will do anything other than sit on their hands. you have to be in the markets. you have to not get in th

we have paul steve grasso from stewart franco on the floor our own rick santelli at the cme in chicago guys, good to see you all. steve, we have, again, the story unfolding for a while, not specifically north korea but even when we get adverse h headlines the market finds a way -- >> shrugs it off -- >> -- to rotate, stay supportive near the record highs. today may be a fumbling of the baton. energy up but the banks and techs both down. where does that leave us with the overall market >> i think you've seen this big tech, sell big tech, sell risk on, sell the growthy names that have been doing so well. remember, mike, you better than anyone knows this, end of september, have the quarter rerebalance, monthly rebalance a lot of this is sell what works, buy what wasn't worked. we haven't yet seen the rotation, to your point, take hold for anything longer than one or two or three different sessions this is a big month for energy and i think it could last a little bit longer, at least until the end of september i think you're going to see this rotation of selling the large cap tech stocks.

our guest host is steve grasso, cn bshgs krshgbc fast mron trao. every day guys need to generate content that people need to click on -- >> if you go to zero hedge first, it's a good one >> it says the next financial crisis is starting as they unwind will the unwinding by the world's central bankers of all this accommodation, that's one idea the other day we had someone on who said it will be fine ray dalio said the thing to worry about is that they raise rates too quickly. they successfully put in enough cash where you needed to do that it was necessary and that they did save the world. it won't be an event unwinding which is it. >> i have confidence in the central bankers. however -- >> why >> because i think -- >> they get through the crisis the worst didn't happen. i think the key is that right now there is the greater chance than normal of a policy mistake because you're coming off an unprecedented situation. >> would the policy mistake being go too quickly or not quickly enough >> either way. we never had negative interest rates around the wo