steve grasso >> i don't think so. bespoke, paul hickey was on.e said a great thing about seasonality, the second quarter is a bit tough it gets better going into year-end i think if you are a netflix bull, this really hits you in the gut, but longer term i think you can stay long. >> that's looking at the glass half full, isn't it? 2.7 -- i mean 2.7 million. >> it is a terrible number. >> versus 5 million, the first drop in u.s. paid subscribers ever. >> that's the key. >> you could -- you could argue, you could argue that, okay, fine, wall street got ahead of itself and was expecting 5 million, they came in at 2.7 million international, but it is the loss in the u.s. when you are facing competition and you have raised prices, that really calls the whole story into question. >> i don't think it is international. what i was upset with was in april they're the ones that came out and gave us the 5 million number. >> right. >> it should have come from their guidance, was completely wrong in april how do they not have a gut feel on that number to dres

today i'm steve grasso >> how could anyone confuse you for anyone else, is that a suit? anyway -- >> you like it >> i do. >> we have to go i'm getting in trouble thank you. home builders are gnaw cheering too loud lay for lower mortgage rates and diecent demands for homes. what it means for the economy is next, and catch former federal reserve vice chair alan blinder in a cnbc exclusive coming up on "power lunch" at 2:30 p.m. he's in a really bad mood about trump's fed picks. we'll be back. 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. is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and

steve grasso. >> looks like it will take a run at the 140 level it is right there, and i will be impressed of days out, let's say next week and we are trading in the mid 140s, then you have to say, okay, you know what? rip up the script, this stock has a lot of runway ahead of it. if it fails here and comes back down, then we were all right at the beginning of the show to say you should be selling at all-time highs versus taking a leg into the name. >> i want to look into our crystal balls. >> do we have those? >> apparently we do. >> is there more than one or just one >> how the after hours movers will trade in tomorrow's session. boeing is now up 2.4% on the news we brought to you guys earlier about taking a charge in the second quarter for the 737 max. >> if you are asking me to stare into said crystal ball. >> stare into said ball. >> remember the wizard of oz, the wicked witch had that and she surrendered dorothy, right >> you saw it in theaters, right? >> i don't remember that. >> they actually -- you done >> yes. >> i think boeing holds the gains and builds on the gains in post mark

. >> steve grasso. >> net theme of the retail space underperforming.acy's, maybe you get a couple of days of the rally out of it. >> mark tepper. >> pepsi, we love the momentum in their snack business, freet olay. >> tim. >> you know, we did wish you happy 4 a day late were you flipping burgers on the grill? >> i was not i was preparing for "squawk box. >> how were the fireworks? >> fantastic, i slept through them. >> don't sleep through sisco they're leading the way. happy day after the 4th. >> have a great ekd.ween options actions up after this options actions up after this break. there's also angry. i'm really angry clive! actually, really angry. thank you. but what if your business could understand what your customers are feeling... and then do something about it. turn problems inrtunities. thanks drone. customers into fanatics change the whole experience. alright who wants to go again? i do! i do! i have a really good feeling about this. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one pla

traders on the desk, steve grasso, karen finerman, guy adami, dan nathan. facebook, amazon, google all reporting results flex week. how to pro situation yourself ahead of the big reports a major developing story in the oil market, crude shooting higher on news iran seized two tankers in the strait of hormuz. we are watching the reaction very, very carefully karen, you are noting in the after market session the futures look like it was reacting to this look at the oil market you would think there would be a little bit more to this than what the oil market is pricing in what do you make of in >> too political, it doesn't seem to move oil at all. steve alluded to this a couple of days ago. i don't think geopolitical risk or uncertainty has any effect on the oil market whether it is right or wrong i don't know, but i do think it has -- for the broader market i think it has huge implications, and we'll talk about it quickly. i don't think iran wouldn't do this on their own i don't think. i think clearly they have the backing of somebody out there, and i think th

steve grasso with us, as well. you're a chief risk officer. is it risky to be buying quits at these record all-time levels? >> thank you for having me i think all of us have to agree that these valuation levels seem a bit extended given the fact that there's no real news or resolution on the trade front. and yes, the fed is positive, but valuations are higher and earnings growth is trending lower. >> what specifically do you have in mind in terms of what earnings season is going to look like >> well, right now q2 forecasts per fact set is for the overall earnings estimates to be down about 2.5% which is a stark difference from where we were six months ago which projected q2 earnings to be up at around 2.5, almost 3% so with ceos telegraphing more negative comments as it relates to expectations for sales and capex plans, it's understandable why wall street has lowered those estimates quite a bit. >> do you agree that earnings season could hurt equity markets? >> i believe that it could hurt the equity markets, but i think the backstop is going

steve grasso is here, he's a cnbc fast money trader, also, julia coronado, president and found of macro policy perspectives welcome to both of you let's start with the inflation issue, which i think, steve, mr. powell referred to multiple times during his testimony, that inflation wasn't quite at the level that they would like, or at least they're not worried about it heating up very much. but today comes news that inflation is, i think, at the consumer level, as high as it has been a year and a half, above 2% >> identikind of ironic, right,r to your point. but you know what was also ironic is that in december, when they were raising rates, he was -- powell was just as enamored by lack of inflation as he is today. and yet you kind of see inflation moving a little bit higher now so it is ironic where he's standing and speaking from, because back in december, you could have said everythingthat he's been saying at these hearings, could you not. and yet a different action coming out of the chairman's mouth. >> so why do you think that is, steve? >> i think that he is, you know -- maybe he's

steve grasso, what did you think of the moves >> i'm looking at the screen year-to-date xle is up 12%ear back, down 14%. five years i said it was flat, i was wrong. down 6%. you can invest in these longer term, despite what the d.o.e. numbers were today, we are in oversupply of oil. ultimately, the macro, we are going lower in oil you couldn't have scripted a more bullish scenario with everything -- with the backdrop from the storm, from iran, from venezuela, to everything for the price of oil, and it still hasn't been able to breach those all-time highs. >> ywe did a thing at the smart board with a power pitch. >> it is actually a fast pitch. >> 75/25. >> thank you >> i like that they had a nice day today and i think it rallies in earnings i will take the other side of steven, but i think energy sets up well especially if banks are putting a blow torch to the currencies. >> it didn't go very well. >> what would you think if you had bought it? >> i have a call from devon right now and one of the names i power pitch, fast pitched actually, kmi. >> thank you. >> all richard kinder does

city's times square, i'm tyler mathisen in tonight for melissa lee traders are dan nathan, steve grass grassonvestors 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 is 14, 15 months until the election, let's

and the federal reserve next interest rate move, still pretty unclear joining us for the hour, steve grasso is back welcome, steve. >> thanks for having me. >> technology making a move higher thanks in part to the semis. >> first you have that semi upgrade from goldman sachs that's put a flame underneath the whole space. they're leading and also have the f.a.n.g. stocks reporting. that's what is driving the market action. >> does it tell you something about the cyclical leaning. >> it tells you -- it gives you the impetus of, hey, what got us there? what is going to be the mainstay >> people like to keep riding the horse that's delivered the returns and that horse has been tech. >> horses are scary. let's drill down on the big stories we're watching a meeting with chip executives will take place. phil lebeau, a credit warning or boeing and bob pisani are looking at the other moves and seema mody looking at the impact on oil and iran. ylan, let's start with you. >> it's expected to get under way in a half hour several of the executives are already here my colleague kayla tausche and i have c

steve grasso from stewart frank, and a lot of moving parts, what do you do? >> it feels as if everyone's on hold for the fed that's the most important thing that's happening right now earnings this surprised to the upside everyone usually, even last quarter, even was ready for a a into the earnings cycle. >> steve is here with us for the full hour, and we'll be dissecting the market moves. let's focus on the big stories the pharma deal, more fallout for boeing, and eamon javers. >> viagra, lipitor, xanax and the epipen, pfizer is going to spin off or divest its up patent business and combine with mylan, and the new company will do about $20 billion in annual sales. it will get a new name and be domicile in the united states, a fact that could be attributed to u.s. tax reform and an element we saw in the recent deal avi acquiring, allergan. >>> those talks moving in opposite directions. pfizer dragging, mylan getting a much needed boost. >> mylan has been challenged forever so they needed this deal they get a management shakeup. pfizer needs to create somethin

traders on the desk, steve grasso, karen finerman, guy adami, dan nathan.ook, amazon, google all reporting results flex week. how to pro situation yourself ahead of the big reports a major developing story in the oil market, crude shooting higher on news iran seized two tankers in the strait of hormuz. we are watching the reaction very, very carefully karen, you are not

city's times square, i'm tyler mathisen in tonight for melissa lee traders are dan nathan, steve grass grassoant stocks today, sending brands to new all-time brands. the consumer is healthy