i'm melissa lee, tonight's traders, tim seymour, brian kelly and steve grasso on the big show tonight the last beyond meat bull just backed down she'll be here to explain what has her waving the white flag, plus stocks sitting below record highs and one top strategist says there's a new trump trade and she'll tell us what it is and why it's your best summer bet and we'll start with the facebook fallout, stepping back into a bear market after a report says there are e-mail showing mark zuckerberg knew about the company's privacy problems and this as the house judiciary committee on fake tech moves forward. is there more pain ahead of facebook and in turn, the market rallied. tim? first, just talk about facebook it's the function of big tech and it's a very big way and they're holding and there's a scarcity value in social media, despite of all facebook's troubles in the last two years it's a stock that a lot of people feel very comfortable owning because the valuation is hardly demanding, but that to me is part of the reason why facebook's valuation is hardly demanding because people d

tim seymour, steve grasso, dan nathan and guy adami chewy is the latest ipo to go parabolic on the first day of trading and is it a bad sign for the stock? we'll explain and facebook going full crypto called libra next week with a number of big backers. we've got all of the details and we start out with what could be a make or break movie for the rally and the final two and a half trading days and we only do this because you guys hate this song >> name the band >> four days, with the 20% rate cut in june and nearly a 19% in july, as jerome powell pushes for him to cut rates and disappointing data from china and the ten-year lows and is this the perfect recipe for a rate cut what does that mean for the market guy, welcome back. >> thanks, mel it's great to be back. >> you survived the dominican republic >> of all of the crazy places to go, with that said, obscuring the dominican republic in my opinion is the fact that president trump saying they should cut rates and to me it's madness at the highest level i still think the market is pricing in way too dovish the fed and it can only disapp

york's times square, i'm tyler mathisen in for melissa lee traders are tim seymour, carter worth, steve grasso and guy adami. i'm calling this the xi 20. >> oh. >> i love it. >> the xi 20. >> love it. >> but the chart master says there's trouble brewing and ubs slicing its market tesla for the third time on the year stocks closing out the best first half of the year in two decades. the s&p up an impressive 17% tech, far and away the best performing sector, up 26%. health care, the worst, up just 7%, trailing the broader market. with trade talks john going and fed cut hope still high, do you stick with what is working guy adami? >> first of all, tyler, tyler matheson. >> it is special. >> he's legend. >> as special as new year's eve. >> it was new year's eve, the last day of trading for the year this is the last day of trading for the quarter. they call me the closer! >> you're doing a great job. >> the closer! >> the ramp up late in the s&p 500. i know steve has been on back of this market is going to rally, and the market has been rallying i don't trust it but i have not trusted for quite som

. >> steve grasso. >> olin, it is a name i have been in for quite sometime it is around the same levelwhere i bought it. i'm looking for a double on there. i think you should be there as well oln is the symbol. >> guy. >> a special surprise. >> so huge. >> soviet. >> the cutest surprise you could imagine. >> her son is here, 8 months old. >> he is coming but you won't have enough time. >> i won't have enough time now. >> nobody in the buster. >> in the buster. >> please. >> you have a great trip. >> thank you. >> we will miss you have yoxonmobil, i don't care what anne says. >> that does it for us we'll see you back here after this break ♪ i give you all a boy could give you ♪ ♪ take my sears ♪ ♪ tainted love ♪ oh, oh ♪ tainted love >>> the race to zero is over >>> you hear me? >> hey there live from the nasdaq market side on this expiration friday. the guys are getting ready behind me. in the meantime, here is what is coming up on the show. >> special delivery. >> hey >> fedex is getting ready to deliver earnings next week, but the chart master says there's trouble lurking in the tran

joining us for the hour to break down the action, steve grasso from stewart frankel welcome, steve >> thank you >> are we going to end the six-day win streak here? >> if we did would it be a shock? and it's still plenty of time for us to turn around, turn green. we bounced about 6% off the lows but we are not overbought. so to your point, i don't think that we necessarily have toned today but it's a good stop to say let's take a breather, we're still above all the moving averages in the overall market about 10 handles lower in the s&p cash but i still think we're on good footing. >> is 2900 a tough footh for the s&p? >> it is because it's a big fat round number so i think the 2954, the all-time highs, that's the tough number you have to worry about, not the 2900 >> let's focus in on the big stories we are watching. bob pisani has what's driving today's market which of course has been up and down ylan mui is watching a tech antitrust hearing on capitol hill and phil lebeau is covering tesla's shareholders meeting bob, let's start with you. >> let's take a look what's going on it's very

steven grasso from stuart frankel here for the whole hour. steve, what's your take? >> i think it's all fed. the market cares about one thing. it's fed obviously on day to day they want to be a little bit preoccupied with trade news. but ultimately, if the fed says that they're there to backstop the market by cutting rates or being soft, that's all the market cares about and that will keep the rally going >> just also point out as well, the banks almost a perfect layout for them because we're talking about rate cuts, which is good for the economy, but in fact yields net today are higher you're seeing a steepening of the curve and in general that's playing out for the banks citigroup up 4.5%. >> but you're also seeing a rebound in the trade stocks, a rebound in consumer discretionary. i guess the question is was it just oversold conditions that's leading to a bounce or has the picture changed somewhat >> so i think it was an oversold condition that led to the bounce but as i said before i think the fed is the most important thing. but you look atting financials financ

joining us for the hour is steve grasso taken by semis, is is that ahead of micron, g-20? >> i think that it is a bit of both bullard was not bullish. market was expecting one thing, not the other. and micron is after the bell, so people are getting ahead of that people so either earnings or semis, chicken or the egg there, but that took us down. >> something the bears point to, semiconductors are traditionally a tell on the economy and they are not at record highs. i think that they are still in correction >> so if you had to poll everyone now within the marketplace, people are going to err on the side of growth is slowing. can't find anyone that says growth is ratcheting up. so these have been the bull's-eye for growthand they have been your cautionary tale thus far within the marketplace and with g-20 and with china and everything all encompassing. >> microsoft also suffering. ten year back below 2% all factoring into the selloff let's drill into the big stories. we are dom, bob pisani, rick santelli and diana olick, and meg tirrell. and leslie picker has more on why th

york's times square, i'm tyler mathisen in for melissa lee traders are tim seymour, carter worth, steve grassooh. >> i love it. >> the xi 20. >> love it. >> but the chart master says there's trouble brewing and ubs slicin

i'm melissa lee, tonight's traders, tim seymour, brian kelly and steve grasso on the big show tonightbeyond meat bull just backed down she'll be here to explain what has her waving the white flag, plus stocks sitting below record highs and one top strategist says there's a new trump trade and she'll tell us what it is and why it's your best summer bet and we'll start with the facebook fallout, stepping back into a bear market after a report says there are e-mail showing mark zuckerberg knew about the company's privacy problems and this as the

tim seymour, steve grasso, dan nathan and guy adami chewy is the latest ipo to go parabolic on the firstbad sign for the stock? we'll explain and facebook going full crypto called libra next week with a number of big backers. we've got all of the details and we start out with what could be a make or break movie for the rally and the final two and a half trading days and we only do