That's money starts right now.

Live from the Nasak Market site

overlooking New York City's Times Square.

I'm Melissa Lear.

Traders on the desk for Tim Seymour,

Karen Feinerman, Steve Grasso, and Guyadami.

Tonight, the S&P 500 is less than 1% away from record highs.

And the top technician says there's one beaten down group of stocks that's your best

bet to catch this rally.

We start off with the Federal Reserve, Chairman Jerome Powell sitting on the sidelines for now

with no rate cut. Let's get straight to our senior economics reporter Steve Leesman who

is at that news conference today Steve.

Thanks very much Melissa. The Federal Reserve left interest rates unchanged as you know

at the June meeting but made a major change in the outlook suggesting a cut rates in the

months ahead maybe even at next month's meeting in July the big changes the Fed effectively ended the policy of

patients just as it was born actually where it signaled it wouldn't do anything for

several months. It took that word out of the policy statement. Instead it's now

emphasizing uncertainties in the

economic outlook and said it would quote act as appropriate to sustain the

economic expansion. Now remember back in March no Fed official forecast a rate cut in

2019 now aider on board with rate no Fed official forecast a rate cut in 2019.

Now, eight are on board with rate cuts, at least one this year,

...