Fast Funny starts right now live in the Nazac market site overlooking New York City's Times Square.

I'm Melissa Lear traders on the desk or Tim Seymour, Karen Finerman, Brian Kelly and Steve Grasso.

Tesla under attack by the Bears again today. The stock's sinking 6% to a fresh

multi-year low and Karen says there's even more trouble under the hood. She'll give

us the fine print. Plus the man who called last year's off Mark Usko, Morgan Creek Capital, is back

and he says stocks are in for a double digit decline

this year. You won't believe what he says to buy instead.

But we start off with the markets lower today as we are in the thick of retail earnings and there's

been one key theme amid these reports.

Tariff anticipation.

Everyone from Macy's to Walmart Home Depot and Target studying the trade war as a future

headwind for the space. Treasury Secretary Stephen Minutian saying he spoke to the

Walmart CFO and is monitoring the situation closely. With the retail EDF down

more than 7% this month alone is there more pain to

come for the group. Well the retail community or the consumer is supposed to be

pretty healthy right now on the basis of where you see jobless

claims. By the way, jobless claims have been weakening. So there are

some people that are already starting to say hey you know what we're at peak labor

and this is a dynamic. You talk about the XRT so the XRT is down about 8%

in 20 sessions and basically is given back halfway to where it was on

December 24th when we would all acknowledge the world was in a pretty scary place.

So I think we're in a dynamic here where a lot of retailers are looking at the net cost to them on imports.

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