let's get started with steve grasso. >> as i alluded to, i would be a buyer of alibaba. the u.s. and china house finally reached some sort of agreement on accounting that takes the cloud over those chinese related stock for being delisted. it is not completely gone, but seems like it's lifted. >> okay, bonawyn eison, what's your final trade? >> arkki would steer clear of right now. >> tim, final trade for you on this friday? >> sob if you look at the debt levels, this is a great opportitfous oniuny r peng. >> thank you for joining it. that does do it for fast money this evening. power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools power e*trade makes complex trading easier react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity >>> tonight on options action, the fed makes no bones about i .r

we will go quickly to guy then steve grasso. it affects the fed and the fed pushes the market around. how do you see inflation right now, coming down to 7% and that still really high. >> and that is probably what we will have. i'm with jim and have been with him for a while in terms of use. it's a long way away from two and it ain't getting there anytime soon and a lot of the rally predicated on the misguided belief that somehow the fed will pivots and they are not because inflation remains hot. if you're buying stocks on the fact that the fed will reverse, you should be selling them because they are not. >> i think it is a supply-chain issue. used car prices have never been the same price as new-car prices and i think that should tell every other commodity and the cti will miss to the downside track. >> i will be driving grasso's gremlin. speaking of inflation, when clean energy etf getting bumped and the options pit and what direction that trade the global mean energy atf. it's still early and bit coin is off to the races. wil

steve grasso coming up on "power lunch.o the governor ofec oak on the push to attract workers as it looks to bomece the epicenter for the future of transportation "power lunch" will be back in two. if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from unitedhealthcare. medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could add up to thousands of dollars. medicare supplement plans help by paying some of what medicare doesn't... and making your out-of-pocket costs a lot more predictable. call unitedhealthcare now and ask for your free decision guide. medicare supplement plans also let you see any doctor. any specialist. anywhere in the u.s. who accepts medicare patients. take charge of your health care today. consider adding this. call unitedhealthcare today about an aarp medicare supplement plan. >>> welcome back to "power l

i want to say this, steve grasso , what do you make of this, hard to argue against the charts, will we have a hard time holding onto the gains were building? >> i do, we will have a hard time the next couple of months, guy and i are in the camp, we will see about 4200. the red today in the jobs numbers probably should have been more negative for the market but it was not. cpi will be positive, if that is the case, we can 50 number carter just talked about, 4300 before we turn back around with a wishy-washy month. after the midterm elections, or thereabouts, we should probably rally into year-end, but it will be tough going on the way. >> guy, where are we going for the rest of august? >> i agree with stephen carter, maybe another 50 points in the s&p 500 and most of the move has been predictable since the middle of june. now you pick it up, like picking up quarters in the middle of the freeway. it is great that the job numbers was great, i am surprised how the market interpreted it it, i think it makes the job of the fed more difficult and anybody thinks this fed is pivoting, look at t

on the desk tonight is tim seymour, steve grasso and karen finerman will join us in a few moments. are you doing? >> great seeing you. the sun is now shining because you are in the seat. i know that sounds sarcastic but -- >> we start with another major market selloff on wall street. the fp mac dropping over 2% falling into negative territory for the month. every single dock in the dow is in the right. the biggest in the big taking it on the chain as well with microsoft, apple, amazon, alphabet, and tesla losing a combined $240 billion in market cap just today, but the pain itself far and wide. airlines and banks all seeing losses. with jackson hole around the corner and more economic data, is it to say that the rally is on pause and it's good that i do the show maybe every three weeks or so because last time i was on i couldn't get anyone to say that we had made the ultimate low. everyone said we would eventually have time type of bottom and i was feeling good. we went from about 1000 on the s&p. next thing you know, the fed says look, 75 days this point will probably be needed. i