Fast 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 or Carter, or Steve Grasso, Mark Tepper, and Tim Seymour.

Tonight on Fast, a warning from Samsung sending shutters across the semi-space today.

The group's still down nearly 10% from the highs.

Is there more pain ahead?

Plus stocks near records, but there's one name sitting out this rally

that the Chartmaster says is about to get a reboot.

Hint, he'll tell us what that is.

And we start off at the markets putting on its own fireworks show on this 5th of July

to staging a reversal.

The Dow dropping more than 200 points at the lows of the session after a strong jobs report,

tempered hopes of a rate cut, but end of the day down, just 40 points.

Meantime, the yield on the 10-year yield jumping back above 2%, President Trump blasting the

Fed when speaking to reporters earlier today.

We're paying a lot of interest and it's unnecessary, but we don't have a Fed that knows what they're

doing, so it's one of those little things but if we had a Fed that

would lower rates you would have a rocket ship. So what is the market saying

now about what it expects for a potential rate cut this month.

Didn't Bullard and Powell dress down the window for a rate cut last week, or at least going

from 50 to 25 basis points?

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