the nasdaq down another significant move, 67 points. at's higher in percentage terms. 12 points down for the s&p question marks on whether this is in relation to the announcement, reported announcement that president trump is under investigation for obstruction of justice an update from washington on that coming up the fact that the nasdaq is leading the move down, suggests it is not that as the driver, just more tech softness. oil prices were key yesterday. we did see the energy sector within the s&p as the worst performer. down 1.8%. oil prices fell nearly 4% on u.s. inventory data for gasoline showing more supply than expected today things stabilized. wti 44.7 flat at this hour. ten-year treasury note, we got that 25 basis point hike we saw the dollar and yield curve slip a bit ahead of the decision it recovered some ground afterwards the low on the ten-year was 2.10 now 2.14, but lower than the 2.2 level we've been around for the prior week. >>> shifting the discussion to stocks in asia china's central bank leaving rates unchanged de

the nasdaq 1.4%.he nasdaq numbers to watch out for, 6321 is a record close. 6341 is a record intraday high so the dow is performing well. again, having had a few days of selloff prior to that. encouraging rebound in tech. 8 out of 11 sectors positive tech the best, energy the worst. ten-year treasury note did edge back up ending last week about 2.14%. at 2.16. >> a mixed day in trade for asia the japanese index closing at nearly a two-year high, but a different story for the hang seng and shanghai composite retreating ahead of what many call a highly anticipated decision from the msci today on whether the index holder will include china "a" shares, it's considered a watershed moment for china stocks if they get the green light this would allow the u.s. funds to get more exposure to chinese stocks ahead of that decision, the shanghai composite closing down. european stocks following the tech outperformance we saw last night. german and french stocks are also on the move here. specifically the technolog

it is the protocol ratio on the qqq's or the nasdaq etf. t of talk how the qqq's sliced below the 50 day moving average, something the nasdaq did not do. it almost touched the 50 day moving average. today, off of it. qqq did. it is not a five-year high. there is bearish activity going on. one expert told me earlier this probably reflects the big put by action earlier this month. is this a hedge or outright short activity? there isee whether more selling activity in the nasdaq or if today's rebound continues. julia: time will tell. thanks. joe: "what'd you miss?" with him us on set to become more powerful thanks to its planned acquisition of whole foods, they are growing interest in the economic impact. a diversionary force in the economy that is thwarting the fed's goals. are covers the fed for bloomberg news. neil, i will start with you. there is this meme going around the last few weeks. isld it be that amazon having a meaningful effect on the overall inflation rate? neil: i think they are. a lot of this, if you look at whole foods in part

a bit of a diversions for the nasdaq and nasdaq 100, worst weekly declines of the year. this is what's behind it, apple, microsoft,'s -- facebook. slicing through its 50 day moving average, apple will be taking control. a number of buy ciders and sells ciders and they believe there is a rotation out into financials. we of course have had tech on last many months, certainly this year, so taking a little bit of a breather here. forlso have take selling the chip sector. this has really been on fire. monster move over the last 12 months. now, look at nvidia. this has been one of those jet fuel stocks, up in a big way over the last year. trigger does seem to be the short seller at citroen research saying this is a casino stock. we need to see what happens in getnext quarter to really behind it. really taking the entire sector lower. finally, taking a look at what might the happening sector rotation-wise, have a look at the bloomberg. is a chart out of the inauguration, since president takenhas been elected or office. s&p 500 up about 5.6%. the tech sector has really helped ou

the nasdaq i in the premarket.that suggest this was a two-day bit of profit taking >> i wouldn't say it's something more worrying for the market as a whole, but looking back at prior events where the nasdaq hit a 52-week high and finished down 1% like we saw friday, seems like you want to place weight into those events, but looking back they're not that uncommon about 25 other occurrences going back to 1990 it's like if you throw a big rock in the water, it will take time for things to settle down looki looking out over the next months, it looks like things will get back to normal this happened on a summer friday. i would put as much weight into the market events on a summer friday as you would like a bar near last call things seem important, but by the next day or a few days later you don't remember what happened >> are you saying you're a buyer on the dip >> the next few days you could take positions in the market for the market as a whole this is not a worrying event. two sectors did well in that tech selloff we

coming off a day when the nasdaq was up 0.75% the s&p was flat and the dow down 0.3%.gy was the worst performing sector. oil prices were down almost 2.25%. they just turned around quite significantly in the last 15 minutes. we sat here earlier and wti was flat to down so we got 0.6%, 0.7% bump in wti in the last 15, 20 minutes 42.6 for wt ii. >>> president trump is talking tech at the white house today, but american small business owners want him talking taxes. so far the administration has only offered a bare bones plan for overalling the tax code. kate rogers is in charlotte talking with small business owners he cares what they think, doesn't he >> he does small businesses like melt in your mouth cupcakes say they're hoping for tax reform under the new administration the mother/son team behind this small business say they pay about 3 cent 35 cents on every they make into taxes that's one thing they take into consideration when they decide whether to hire, expand and grow >> we're in the process of trying to open up two new stores, paying the taxes on this one is taki

up 1.3% on the nasdaq. liz: the bulls do like it. the question is can senate republicans beat that deadline? the markets certainly like what fox business has confirmed at this hour, gop senator have been tasked with reaching a revised health care bill by the end of business day friday. it was at this time yesterday the senate majority leader mitch mcconnell came to the microphones and called off what was supposed to be a thursday vote after it was revealed that republican governors are pressing their state senators to oppose the plan. the deal breaker? cuts to medicaid. meanwhile, the democrats now want to talk in the last hour senate minority leader chuck schumer of new york challenging president trump to bring in all 100 senators, both sides of the aisle to discuss a truly bipartisan plan to fix obamacare problems once and for all. the president just a few minutes ago saying we have to find out if senator senator schumer is actually serious about this. senator mike brown has no problems. he's going to give the scoop of whether sena

if he see the nasdaq the last five days, you see the selloff. down.g into friday, beganose before this drop was a record one, but it also major- simply the three averages and you have the nasdaq here in blue in the nasdaq has been the leader for the past month or so. that lead is narrowing as we have seen. outsider as seeing small. most, shares down the going back 15 years or so. it looks like food deflation seems to be to blame here. analysts are cautioned the food deflation now might be lengthened by price wars. walmart -- sprouts is being downgraded today. we areer corporate story watching is 19. the company cutting about 2% of its workforce. it is trying to be more translate intoch cash nike shares down almost 2.5%. down my 7/10 of 1%, the 2060.is aside that, i will tell you a little bit about it. votingefenders, three for. u.n. on as of now. we will talk off the damage occurs your up 10 points. the 10 yearesday, close at 92 basis points. upwarde is the biggest since october or december. this is a wonderful function. was last logged on the -

indices moving is the nasdaq. movement around the tech-heavy nasdaq. ay chart nasdaq 100. now on the day, we have the lows, aell off the small inverse head and shoulders pattern, a by the dip pattern. flatuld take the nasdaq to on the day, but a bit of relief, down 2.9% on the day, the worst of selloff since september last year. is the biggest component to the nasdaq 100, nearly 12%, down 4% on friday, down 2.6% today. two-day selloff since april last year when they put out that horrible quarter and revenue growth dropped for the first time in a long tan. downgrade, so a bit of the cell the high flyer mentality. apple taking many suppliers down. some real selling here. we may have a little relief for the nasdaq and nasdaq 100, but , about 8% of apple the nasdaq come the selling may continue. is #9306, a one-year chart, and we see around the election that apple did slide below its 50 day moving average. friday and today, below that 50 day moving average, suggesting we could see the stock moved to the 200 day moving average, almost a 20% drop from the top

the nasdaq, here is the nasdaq with its intraday trading, the purple day is the 50 day moving averagei want to give you a better look at what we are seeing in the today session and yesterday. the nasdaq today as low as around 6145, 6143 is the moving that yesterdayto and bouncing off of the trendline or momentum line. interesting phenomenon. in terms of the big movers we are watching within the nasdaq, some familiar large caps are outperforming today, particularly nvidia bouncing back to present an apple and amazon. up.pple and amazon expedia was raised to buy at citigroup. and analyst says there are a number of factors including -- including easing comparables. we are getting commentary on sayingvisor, an analyst the european commission ruling on google shopping could be applied to the travel vertical in the future and the positive for some of those companies. mark: let's get back to the european markets with lots of action in the currencies as we hear from the ecb forum and portugal. after theebounding ecb said the market misjudged president draghi's speech while the pound is rising

the nasdaq led the charge higher by 0.4%.n important rebound for the tech sector after two sharp days of selling during those two days, the other sectors did not follow suit to the down side and the down side for tech only a two-day occurrence the nasdaq the best performer up 0.7% yesterday for the s&p, 10 out of 11 sectors positive only telcos down the dow is up by 20 points oil prices falling on a surprise build in api crude inventories and a new report from the iea saying demand growth won't accelerate until next year we have about a percent slide in i'm prices bang on $46. it was down more like a percent and a half so we stemmed some of those losses this after a three-day gain for oil prices up about 0.8% yesterday. we will get an official read from the energy department later this morning >> let's look at markets in asia specifically in china. the factory output growing 6.5% in may from a year earlier slightly better than expected retail sales topping forecasts at 10.7%, but fixed asset investment did come in lower than

seven months straight for the nasdaq. the top story, president trump says he will unveil a decision on the paris climate deal at 3:00 p.m. eastern today. the highly anticipated announcement comes as many big business ceos and adviser to president trump have advised him to not withdraw. tracie potts joins us now with what we can expect today. who is actually advising him to stay in? i have not read that part yet? or to leave. >> a lot of people are advising him. lease g he's getting pressure from both sides. his daughter ivanka and his son-in-law jared want him to stay with this deal. so does the secretary of state, rex tillerson and others in his cabinet. even within the inner circle there are people telling president trump to stick with this. on the campaign trail and even since he's been in office he spoke against the climate deal. steve bannon is sharply against this deal. so he has people on the inside close to him pulling on both sides. on the outside, some two dozen companies, some taking up big ads in papers today,

, down 1.8% at the close nasdaq having its worst week of the year since back in december.et's show you the f.a.n.g. stocks in the early market action see which indication we're getting. a little bit lower, even after they sold off hard yesterday we'll see if that sticks later >>> time for top trending stories. jay-z's new album 444 dropped at midnight it's been met with some angry fans 444 was slated to be exclusively available through tidal and sprint but only people who signed up for tidal and sprint before the album's release will be able to sulk's access it. but the real story is around jay-z's lyrics in 444 he addresses cheating allegations and seems to confirm his mistake. we never knew if that was for real or in tnot. >> i hoped there was a private apology before this. a year plus is a strong stretch. >> airing it out in the new albums >> there was an apology, she just gave births to twins. >> at some point there was an implicit apology >> we're awaiting the names. >> suspense. >>> still ahead on "worldwide exchange" on this last trading day of the first half, we'll

european equity market was down by 1% tech was the drag, pretty much mirroring what happened on the nasdaq most of the sectors are in the green. and you'll see that all of them are now in the green technology, banks and real estate leading tech stocks up by 1.2% yesterday we saw some apple suppliers falling and food and beverages telecoms, some of the relative underperformers the nasdaq has posted the worst two-day streak in 2017 as tech stocks continue to drag on the stock market in the u.s. apple and amazon pulled the sector to the first back-to-back daily loss in two months a 1800 global asset managers are gathering to discuss where the next opportunity is. gemma acton joins us from berlin i'm sure there was some talk over the decline in the tech sector many fund managers have been long that sector what ails that sector? >> it seems there's still a lot of enthusiasm for european equities even though they ramped up quite a lot in recent months. that hasn't dimmed the enthusiasm to many of the fund managers i've been talking to. i'm joined by jamie hammond, european ceo of alliance bernst

take a look at the nasdaq. the tech selloff that lasted two days looks to be over right now. q up eight points. cheryl: two words can two words come a buying opportunity. oil up 18 cents. gold is down five bucks right now. lauren: tech stocks tumbled for a second day. paul teacher come to ceo investment officer to talk more. paul, what we want to know is the biggest thing you're watching in the markets right now. is that the technology selloff been an opportunity? what are you watching? >> as we are hitting record highs in the various indexes a record highs, people are always asking as the market overvalued? are we going to have a correction because it's overvalued? if you take out the sides out the tech stocks we talked about earlier in the 50th or 495 stocks in the s&p 500, you will see that they are running, you know, basically at their five-year average of his little over 15 pes. the market is pretty fairly valued it in many lifted earnings and that's what i'm looking. the police will have 10% earnings growth this year. other people think 10% to 12%. that is double digit.

the biggest two-day slide since september. nasdaqn pace for its biggest life since last year -- slide since last year. let's look at one of the bright spots, that is energy trading higher in sympathy with oil. 6/10 of 1%.of 1% -- i was told earlier that this has led to job openings. inventories are likely to drop in the coming months while costs from opec will accelerate in the coming months. hoping the second today come here are some of the best names within the energy complex. chesapeake, plus two of the drillers. they trade higher or lower in sympathy with oil in a more extreme fashion. they are in the forehead of the data. let's look at the tech. apple, amazon, facebook, and alphabet. these plus microsoft account for 75% of the selloff we have seen in technology. pretty amazing. the two-day decline for apple around 7%. the worst decline for that company since april last year. it almost feels like the music has stopped. everybody is clamoring for chairs. it could be goldman sachs putting out cautious comments . los what it has pro

higher by about 1.3% for the nasdaq ahead of today's trade. tures pointing to a modest positive open. 30 points, just shy of that for the dow. 13 for the nasdaq, 13.p for t3 nasdaq an energy led story, the sector down 3% for this week. it is the worst performing sector, 9 out of 11 sectors have been in negative territory the week to date average return has been propped up by the tech sector the nasdaq the out-performer of the three indices. oil prices have been front and center all week. slightly higher today by a half percent. slightly higher by half a percent yesterday. as things stand now we'll look at about a 4% decline for the week 3% decline for the week as a whole. ten-year treasury note has been flat around 2.15 area. 2.16 this morning is the yield on the ten-year treasury note. >> stocks around the world, starting with asia, japanese markets closing up, just fractionally week to date the japanese nikkei did see a gain of 1% overall positive week for japan. hang seng closing flat the big story this week was the msci approval, the inclus

it shows the last time we saw a monthly decline for the nasdaq was in october. at reflected jitters into the election when we had a lot of tech stocks and stocks in general selling off on uncertainty. we have seen uncertainty in june. wall streeters are not sure what is behind it. some of it could be the end of the quarter, windowdressing, managers taking profits and trying to take advantage of the fact that tech has been so hot this year. i think you nailed it, emily, with the volatility word. very volatile quarter for tech. emily: had in europe and asia compare? caroline: it was a brutal months in europe. asia managing to post 14% gains in the quarter. get into my graph. type in those magic letters and the number 669. in yellow is how asia has outperformed. agree superlative from our producer saying if you check out asia's index in technology, we have not seen this long of a winning streak on a monthly basis since 1999. we did see a selloff in 2000. the white line is how much europe underperformed the rest of the market. we had a brutal week, the worst since th

the nasdaq lower by 105. to that point, we're looking at all stocks and the trump rally that has hit this bump as president trump hits the road to pump up american energy dominance. he's expected to leave the white house or the energy department at any moment to give a major energy policy speech in this hour. what he's expected to do is lay out his plans on how to make our nation a net energy exporter by using american energy abundance while keeping oil, solar, and, yes, nuclear power at the center of u.s. energy strength. report editor steven oil associates president and former trader and current mayor of new jersey. mike on what they like and dislike about the president's plan. the dow now down 143 points. let's start the countdown. ♪ ♪ liz: folks, we have breaking news. investors. biting the hand that has fed their portfolios but trying to come back right now is technology. it has of course outperformer for the past year now leading a dramatic selloff on wall street. triple digit losses for both the nasdaq

the nasdaq down 50 points in the premarket. bring in joe lavonic important to touch on this tech selloff first. is it encouraging that it's mainly one sector focused as opposed ed td to driven by eco data >> it is the tech has done well because a lot of companies have monopoly pricing power which is unique to their business my guess is that its temporary the overall equity market typically doesn't peak until the onset of a recession is almost at hand. that's not the case now. >> so we look ahead to a heavy week of economic data release and also the fed meeting what's top of the agenda for you? >> the fed meeting is central to the trading. i'm sure over the next few months it will set the tone. yellen and company will release new forecasts. it's not just a statement but what the new forecasts show and what the fed believes it will do the rest of this year and next year in terms of interest rates. but also before we get that meeting statement, we get data on retail sales and inflation, cpi. those two figures could impact the tone

the nasdaq has had 37 record closers for the year. >> yeah. the nasdaq is really a momentum story. t of people finding out how much higher it is relative to the small cap. >> what's your take on the resilience of the round? >> first of all, i think low and slow. like low rates and slow growth have basically accompanied the entire bull market. the market knows how to translate that into growth stock outperformance which is what's going on. it can't go on forever but now it's okay. every time you have a pullback and bad headlines, you get that wall built up and people get nervous. for now, i think it's a momentum story and a fact that, you know, the u.s. market continues to be where you can find mega cap companies that are still growing. >> climbing the wall of worry. the nasdaq just positive here in the early session. >>> we're continuing to follow a developing story out of london where seven people were killed. many more injured saturday night in the third terrorist attack in the uk in three months. let's get back to wilfred who is near the scene of the attack in london for the late

we are live from the nasdaq market site in times square. along with andrew ross sorkin and michelle caruso-cabrera let's look at the u.s. equity futures. right now things are mixed dow futures are up significantly, up by 52 points s&p futures up by 6. the nasdaq is down by 9. this comes a day after the nasdaq had a steep drop off. down by 1.6 pfrs yesterday the dow was off by a half percent. the s&p by 0.8%. we'll see how things shape up as we get closer to the opening bell overnight in asia, the nikkei ended down by almost half a percent. the hang seng off by 0.6%. the shanghai down by a half percentage point in europe, you will see some red arrows you will see that righ

the nasdaq for a time was down almost 2.5%. it's off the lows right now, but it brings up the question is the tech run over at this point? let's bring in david wadell from wadell and associates. peter costa is with us at post 9, and rick santelli is at the cme in chicago. peter, i know you've been short this market. i hope some of that at least was in some of the tech stocks. these have been the leaders. we've been talking a lot lately how the tech stocks have become the modern nifty 50. they've led the charge, and today they're going down hard. >> you know what it is, you can equate it to a rubber band. you know, they stretched it. they stretched it. they stretched it. at some point it's either going to snap, which would be this major selloff, or it's going to start retracting. and i think they are retracting a little bit. it's just a natural evolution of pricing. you know, they ran up very, very quickly. you look at the way amazon was a straight shot up. at some point it's going to have to come back in. there's going to be peo

>>> hey, there we're live at the nasdaq market site on a very tough day for technology guys here getting ready behind me while they're doing that, here's what's coming up in the show >> snap out of it! >> that's what investors in snapchat hope will happen. and there's something that suggests now might be the time to buy we'll explain. >>> plus, this is the market, and this is your portfolio, and if you're trailing, we'll tell you how to catch up. >>> and -- ♪ banks are on fire, having their best week of the year, but there's a key event next week that could set them back we'll tell you how to profit the action begins right now. ♪ >>> we start tonight with a move in the financials because while tech stocks took it on the chin today, the banks actually surged the xlf rallying 2%, posting its best week since early december, this as bank of america, wells fargo, jpmorgan and citigroup were all up 2% or more the rally on the heels of a dodd/frank rollback ahead of the key fed meeting next week. so, is the bank trade on track or should you fade this move dan? >> listen, you mentioned the two e

ll for the nasdaq. nese internet company saying they are replacing the current ceo who resigned for personal reasons. trading loweret after the company announced that its self driving unit has struck a deal with avis. it.a trading down on stratus is one of the big laggards for the nasdaq overall. to ang cut from goldman cell saying that analysts saying the considerate margin and competitive pressures having its worst day of the year. let's hop into the bloomberg and take a look at g #btv 208. are we going to see continuation of the technica pullback three days ago? that.art may suggest in the blue we have the nasdaq going back to 1971 and in white we have the number of days that nasdaq has dropped 5% from a record high. the previous record was 156 days. now we are on to a new record, 158 days. last not as though the time that the nasdaq dropped from that 156 days that it was more than 5% in one day, suggesting that we could see some weakness ahead. right now the nasdaq is still down more than 1% from its

the volume on the nasdaq today is almost double the 20 day average. it's not a good sign if you are a bull, you could see selling on heavy volume. there is still a lot of debate about whether this will be a short-lived sell off in technology. if you look at the s&p 500 technology index over the past two days, it is wiped out a quarter of a trillion in dollars in value. it down by nearly 5% over the past few days. of people are debating about whether the nasdaq will continue but the comments from green capital caught my eye. he said after friday, i cannot be anything but bearish in the near term. healthy rotation seems to hide the fact that for brief moments, there were virtually desk there was virtually no liquidity for some of the best loved stocks. those that have contributed to the gains this year, apple is downgraded to neutral. the analysts says we have all of it priced in. with the product cycle coming up. amazon and facebook and microsoft are trading down but they were near record last week. as for the rotation, look at the bloomberg. valuee a

we saw the nasdaq close off the lows of the session.f you look at the percentage declines in the nasdaq 100 three of the four worst are not even tech stocks. ats to neutral firm davidson, the analysts saying there is a deteriorating near-term business fundamentals if you look at the company, and the company'ceo had presented a thoughtful strategic land but were lacking, as was execution specifics. dollar tree is down as well as we saw forecasts disappointing perhaps. it is interesting that it is not just tech and the nasdaq. you look at the 52-week highs versus lows, we are at 44%. just last week where the nasdaq was high. on techocusing specifically. we are looking at less than 5% today. has deteriorated considerably test considerably. , we can janet yellen inflation is temporary and investors seem to disagree. >> market is telling you something clearly. it is saying maybe the fed should pay a little closer attention to inflation data. a little more serious and if the fed continues to hike edges straight -- >> joining us now is the man

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the nasdaq up nearly 1.5% today to 6234. l have more on that and crude oil. blue apron it's ipo price tonight. we'll get that number any moment from now later, the biggest banks get graded by the fed to see if they have enough capital to survive an economic shock and to see if they could pay out more. we'll get the results and potentially a flood of dimpblds and buyback announcements. joining me today, michael san toely along with rebecca patterson. welcome to you michael, bill more buyers than sellers today. it is odd to see the strength of this on no employee. >> not much, i think the message from today is -- and it's a consistent one for a while now that the market is label the tough to spook yesterday was really the third time in three months that the nasdaq had a pretty good jolt to the downside, down more than 1%. air pocket, shake out, but then the market has had a hard time sustaining downside momentum, today was kind of a reversal of that didn't quite recoop all the nasdaq losses of yesterday, but almost so, so to me

we are live from the nasdaq market site in times square. ck along with andrew ross sorkin and michelle caruso-cabrera joe is off today let's look at the u.s. equity futures. we are poised to open higher, at least for the dow and s&p 500. looks like the dow is up by 24 points after big gains yesterday. the s&p had the best day in more than two months yesterday. it's indicated up by 3.5 points. the nasdaq had the biggest one-day gain since november 7th. this morning slightly negative financials look to be big gainers this morning after gaining yesterday. we will talk more about that the nikkei looks like it closed up by almost half a percentage point. the hang seng up by 1.1% the hang high up by a half

here's why that is a huge slap in the face. nasdaqd a lot of stuff with them in terms of fighting information and data. the fact that they are kind of like ignoring it. it is kind of the big thing for nasdaq. right now it is new york's toulouse. the bankers are pushing it heavily to go to the new york stock exchange into a blowout that is going to be a spectacle. if they tried to dress out of that one they tried to manhandle foxbusiness. and then they complained about it. he's unemployed at the moment. they have to want it. she knows everything about this tech world. make that eight minutes before the closing bell rings. they hold onto gains of 44 points. finally upon us. the one top expert in the market who is about to finish the sentence. the summer is not the time to we will let them fill in the blanks. when it comes your mommy -- when it comes your money will talk about that too. ♪ whoa that's amazing... and pu . . of their psoriasis plaques. in fact, 4 out of 10 even achieved completely clear skin. do not use if you are allergic

the devil oppressor team. s&p up by two. nasdaqthe watch obviously snapping the two-day losing streak yesterday. red areas down nine points. lauren: energy is something we are also watching. last week oil hitting bear market territory for five days in a row. just shy of $45 a barrel. two bucks at 12546 announced. >> that's good for energy stocks. blue apron is pricing its ipo at the low end of the range. is this an ipo disaster? adam johnson, founder and author with us. we haven't seen a lot of big ipos come especially technology. what you make a blue apron lowering the rates for the price? >> this is a total disaster and kind of a sad story but symptomatic of what's happening now. amazon and wolfowitz coming together can do whatever blue apron is trying to do better, cheaper, more effectively. that's why they have delivered the price. that's the reality of the situation, cheryl. lauren: the iphone with a big anniversary for apple. your feelings on the stock. >> i absolutely love this out. one of my favorite teams i like to tell re

the nasdaq selling 42 points, could be down two weeks in a row. tonight nasdaq futures 4 points. lea: let's take a look at key commodities. lower than $45 a barrel right now and gold higher by two bucks, 12.56 a troy ounce. lauren: the question is this selloff that we are seeing specially in big-cap technology games, we bring chief investment officer and say good morning to you. >> good morning, lauren. lauren: what's your take on technology? >> technology got ahead of itself, you know, before this slide started it was up about 16%, the leading sector. so i think this is a healthy consolidation. is it over? it's hard to say. i still have an overweight on the technology space. so i think long-term this is just a bump in the road, but -- lea: talk about big names, the fang stock, apple facebooks and others, do you think these offer an opportunity right now for buyers? >> you know, i think apple in particularly does -- does offer an opportunity just from the standpoint that it has -- apple has been so cheap for so long and, of course, there's concern that innovation streak is over, b

the nasdaq down about a third of a percent. ay just about red across the board. joining us is rich clarett from pimco. thanks for joining us. i suppose tech continues to be the focus whether an rupp day or down day, tech is leading the market >> that's right. i think we're in a bit of a goldilocks market. when we get good economic data, the stock market is up the vix sat a low level as well. it's an interesting period >> with this decision just breaking on the eu fining google, i know this was a long time in the works. are increased antitrust fines between countries and companies of other nations a sign of the increasing wave of protectionism we're seeing and trade barriers? >> it's a good point and it could be the history goes way back before the election intellectual property and services, that's a big and growing part of trade. this is not the first time the europeans deployed this. probably won't be the last so it's an element of trade right now. does it need to be an element of domestic use of technology is it a warning sig

. >>> "fast money" starts right now, live from the nasdaq market site our traders on the desk are pete, karen, dan and guy tonight on fast, energy stocks are having their best two-day stretch of the year. and there is one stock trader you see breaking out no matter what oil does. we're going to break it down plus, jeffrey is out as the ceo of general electric. and if history is any indication, that might be your sign to buy the stock. later, one retail stock is up 20% in june. we're going to give you the name and tell you why traders are piling in. but first, we start with day two of the tech wreck. the first back-to-back sessions for the sector since brexit. all the familiar names, facebook, amazon, apple, netflix, alphabet. all closed well off the lows was the bounce convincing, and in a month from now will we look back and say today was a buying opportunity? pete, shall the fangs have lost $126 billion in just two days. >> which sounds like a monstrous number. >> is the worst over >> i would say this. when you look at what happened with volatility today, john called in earlier today

we saw the nasdaq turn lower. amazon, microsoft and google. the intradays are even more dramatic and a lot of volume at last check trading at the 125% of its average daily volume. extraordinary volume for a friday afternoon. and as stocks rally the vix hitting a 24-year low. financials big movers. among the leaders in the group bank of america, morgan stanley and regents financial. with us on set you saw his finger, let's show the whole person, the one and only guy adami. >> josh brown was walking off set. he yelled my name, i looked over at him, i'm sorry. >> let's first talk about the tech sell-off. start to roll over at 12:20. you pull up any intraday chart including it tesla, nvidia, amazon, apple, all of them rolled over. >> nvidia sticks out to me. it's been on everybody's radar screen. at 1:00 it traded is 50 million shares. after making an all-time high the reversal is significant. so if you're looking for an opportunity to maybe get a pullback, this is the beginning of something, the reasonable levels of the 120s. >> what's your fake o

the nasdaq 100 is on pace for its biggest two-day drop in the year. hyman has been checking it and into the numbers. julia -- julie: it's not like things go -- get easier after this. going back after two days, the most since june of 2016, now on pace for a 3.2% drop. looking at some of the underperformers that we are watching and the volatility tied up with it, you can see apple, down 3%, downgraded to neutral. though we are certainly seeing a lot of declines that have nothing to do with anything in particular. in other words, yes, the apple declines today were certainly helped along by that, but they argue that the outlook for the product cycle was already priced into the stock. that's with semi conductors in the suppliers and adobe down, related to an analyst call as well. brian weezer, downgrading the stock after its recent rally. he has the first cell rating on the street knows adobe shares. he did say that the stock went , stillmuch, too fast positive fundamentally on the stock year. in addition we have been watching volatility on the .asdaq vers

the nasdaq is down about 0.7%. s show you the tech stocks in the premarket since they've been a big driver of the overall market and nasdaq apple looking to rebound just a bit here 0.3% it has been a drag on the dow and the nasdaq there's the rest of the group, unchanged, but an improvement from yesterday as for the overnight action in asia very strong in japan seeing off that weaker japanese yen. japan staying pat at the monetary policy meeting. the central bank there, the boj leaving interest rates unchanged, pledging to keep asset purchases around the current target of 80 trillion yen. not talking about an exit any time soon, unlike the fed which is why you've seen in the last 24 hours a strong dollar and a weak japanese yen. the exporters in japan loving that we saw a half percent move higher hong kong up about a quarter of a percent. shanghai up 0.3% eurozone finance ministers agreeing to another greek bailout. the greek index hitting the highest level in two years on that news. as for the broader market action

we have the nasdaq down 1.8%. it's worst week of the year. some investors are calling this serious, there aren't a lot of reasons for actual why investors are selling off those tech shares perhaps too far, too fast. it is still the best sector on the year and a great sector on the quarter despite this decline. for its500 on pace worst decline since the middle of april the look at the small-cap russell 2000 and the dow jones transportation average great we have the dow transport and aboutts best week a month. let's take a look at some of the stocks that are helping the dow transport before looking at some of those tech pleasers. we're looking at the likes of avis, along with the airline stocks trade avis of 12.7%, it's thatweek of the year on deal to manage google's autonomous car driving unit. we have the airlines hire, and george ferguson, bloomberg intelligence analyst, told our team earlier this has everything to do with the fact that estimates are being revised higher plus we have oil mostly down since the middle of may. let's take a look

we had been harder hitting on the nasdaq earlier. ing at the imap nato's -- imap and it is those industrial names. pie longs fisa of the to packaging companies, but it is red all around. energy names down two thirds of 1%. on the upside, you have bond proxies, and utility trusts 1%.g better up by half of green all around indicating most of the numbers are higher. you can see that in electric utilities. 100% of the numbers are gaining on the day. at theshares trading lowest in almost one month. it has come back a little bit here, but amazon closing 25%. -- 1.25%. kroger seeing its worst day since 1999 cutting its earnings forecast. we know that these grocery chains are dealing with lower food prices, which yes is good for consumers, but it results in lower margins. stores.opening 10 that is a factor as well in terms of increasing competition. mattel shares at its lowest getting a downgrade. nike, which we just mentioned, cutting 2% of its global reports , revamping its global operations and rethinking how quickly it could get some of i

liz: charlie, look at the nasdaq now. s falling, and we are at session lows now down 97. >> instead of waiting two years for this. liz: by the way, you can look at it as frightening or a buying opportunity, and i just want to say i'm looking at the -- certainly a percentage, c gate technology is the biggest loser. we do also have jd.com. >> let's be real clear about the markets. this has been a rally, good trump rally. but it's been focused and isolated to a bunch of stocks. like ten stocks. it's not a broad base rally. it's a tech stock. liz: you could do anything since election day. pharmaceuticals, hospitals, steel. a bunch are all up. >> i'm sure they're up, but the real juice. and those ten stocks, what are they? a lot of them are tech names, you know? johnson & johnson is one of them. so of course you get staple. but facebook, amazon, google, netflix. it's something to watch with this market. because that could -- if trump doesn't get his tax cuts through, and that's where you're seeing some of this, you don't get he

the nasdaq 100 touching the intraday high for the six session in a row. facebook and microsoft both turned lower but touched her records on a closing basis earlier today. apple is higher, alphabet shares at a record. if you look at what is going on volatility-wise, yes, the vix is low, but volatility in the nasdaq not quite as low. this is a ratio of the nasdaq 100 volatility to the vix which measures volatility of the s&p 500. you can see it's been climbing. on a relative basis, they cap tech in the nasdaq 100 is more volatile than that of the s&p 500. elsewhere in technology, electronic arts, activision. of price targets on both those stocks raised and morgan stanley, analysts citing five reasons to stay bullish on video gaming stocks including accelerating digital game downloads. nvidia has been having a big run lately, forms highlighting their chip in a recent article. finally, oil, head of the official numbers on supplies coming out in a half hour. oil prices down nearly 1%. the industry data on supplies coming out last night showing a boosting gasol

the nasdaq composite is. at one point all three were poised to hit record highs after the open but then the bottom really started to come out of technology stocks. we'll take a closer look now at the trading that we've seen on the nasdaq. i believe we have a intraday chart that we can go to. look at that as the day went on, it bottomed out with a more than 2% drop. and now as the president was in his joint news conference, we did see something of a rebound and instead of being down more than 2%, it's 1.8. but it's interesting because think about where the leadership and the market have been coming from for all of these months and some of these names that i mentioned a few minutes ago. you know, apple is obviously an example of that. financials i know are doing well today. but the technology stocks apple is the biggest lagger that we've seen today on the dow taking 50 plus points off on its own and microsoft, amazon, netflix, all of these very well known technology stocks are having a rough day, even though the

the nasdaq is particular, bouncing off its 50 day moving average, are getting close to it . and the highs of the session here are up 1.26%. but this is outpacing even the nasdaq, and small caps have regained their recent momentum, now at 1.6%. but take a look at the bloomberg here. chart i have been watching since the election because small caps came out so strong postelection, and now they are bouncing, this is a ratio of the russell 2002 the s&p 500. they have both been bouncing to some degree or outperforming since the beginning of june. after the financials, to get back there to them, this is trading at its highest in three months. we have the second round of the stress test coming out after the close of trading, and following that we will hear about these companies capital return plans, whether they have been approved by the government. and there is what is going on in the bond market. let's look at the bloomberg. this is a chart of the s&p -- relativeest of to the s&p 500, gaining since the beginning of june, and the yield curve between the 5-year note and the six-month

prefer the nasdaq selloff in 2% it hit an all-time high. in terms of people proclaiming the daily over the next tech collapse you have to rebuke them. >> the point is well taken if you look what happened on friday apple, amazon, faced the. these are big-name companies that are heavily weighted in the market overall. you've got to ask the question if there's a problem if these things are overvalued now. >> you're absolutely right. something that changed on friday for this tech names and the answer is definitively know. another recycled rumor about the iphone delay for apple. is that worth 4% in apple stock? probably not. i don't think that will impact the iphone upgrade cycle. i think we've just grown too complacent on some profit-taking here and really nothing has changed. apple, amazon, faced the outcome of the growth is there in the top and bottom line. >> would you affect the fed to hike rates india think it is out of step with the market? >> everyone knows that in the probability is they will hike rates this week one or two my times this

all the action 6144 on a 90-point decline for that nasdaq. early 13 today. certainly over 11. checking on shares of blue apron, that was the ipo today. after hours it fell below the ipo price. $10 unchanged for the moment that's where it closed at 4:00 p.m. it did just move below that point a few moments ago. executive chairman rupert murdoch's takeover of sky. british officials calling for british investigations after the media secretary found the $15 billion bid could give the murdock family coverage over the media. it feels like this has dragged on for years i thought they would get a go-ahead in ireland. how much of a surprise and setback was this >> we heard they might refer it to the competition market authority. basically another regulatory scrutiny period. it's going to take about six months before we finally have clarity. as you say, this has been going on for a long time it will be more than a year actually by the time we finally learn the fate of this deal. whether or not it's going to go ahead or not. >> is this really about market

up 1.3% on the nasdaq. liz: the bulls do like it.icans beat that deadline? the markets certainly like what fox business has confirmed at this hour, gop senator have been tasked with reaching a revised health care bill by the end of business day friday. it was at this time yesterday the senate majority leader mitch mcconnell came to the microphones and called off what was supposed to be a thursday vote after it was revealed that republican governors are pressing their state senators to oppose the plan. the deal breaker? cuts to medicaid. meanwhile, the democrats now want to talk in the last hour senate minority leader chuck schumer of new york challenging president trump to

the nasdaq has turned lower, it is down 17. t, president trump kicking off his infrastructure plan by privatizing air traffic controllers. what comes next? captain john waite was in the room with the president, he represents pilots of southwest airlines. he is here, and he will tell us why this move is long overdue. "countdown" coming right back. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. ki . . s in the country. discover how we can help find your unlock. ♪ he came to the world justin the usual way ♪ ♪ but there were planes to catch and bills to pay ♪ ♪ so i moved my meeting saw him walk that day ♪ ♪ he was talking 'fore i knew it, and as he grew ♪ ♪ he'd say i'm gonna be like you, dad ♪ ♪ you know i'm gonna be like you ♪ ♪ and the cat's in the cradle and the silver spoon ♪ ♪ little boy blue and the man in the moon... ♪ ♪ lauren: the white house focuses on health care and taxes at thi

the top performer on both the s&p and the nasdaq but the number two on the nasdaq if the company we justtioned. tesla up 69% year to date. and, by the way, we're going to tell you what's boosting tesla higher in just a few minutes. oh, yes, elon musk strikes again. stick around for that. and now let's check out some of the names that were not so popular at all with investors. in fact, they went fleeing. biggest drag on the dow for the first half came from verizon down 17%. s&p component frontier falling a stunning 66% even with a strong dividend pay there. and that of course on the nasdaq, tractor supply was the biggest loser. and those are the individual stocks. you'll never guess which sector wins the oscar for the best performer of the year. drum roll, austin. okay. not quite. sounds like a very bad engine. >> i tried. liz: tech, more specifically, social media in the tech world. and if you're the proud owner of the social media etf, you're looking at a gain of more than 30%. not bad at all. okay. as we celebrate the end of the first half of the year, tech and health care as you know