Live from the NASAC market site in the heart of New York City's Times Square, this is fast money.

Here's what's on tap tonight.

A market in doubt, stocks getting hit as oil, inflation, the latest developments out of the Middle East way on investors, how surging uncertainty could impact the markets,

and what it will mean for Kevin Warsh's first Fed meeting as chair.

An Oracle on the move, the software Giant reporting results in the last hour.

We are digging into the numbers, bringing you the latest headlines from the conference call,

which is kicking off right now.

Plus, the betting boom as the NBA finals and World Cup converge,

a pot premiere for True Leave, and the mid-cap Mediterranean food stock,

the Chartmaster, is buying for lunch. The technical take on where Kava is heading next. I'm Melissa Lee. Come to you live from Studio B at the Nazak. On the desk tonight, Tim Seymour, Dan Nathan, Guy Dammi, and Rebecca Patterson, former chief strategist at Bridgewater Associates. Welcome, Rebecca. And we start off with a market sell-off that sent the S&P to its lowest level since May 5th.

The index falling over 1.5%. More than erasing gains for the week, the Dow and the NASAC following suit,

with the tech-heavy index weighed down by a 3-plus percent drop in the semi-stocks.

The move sparked in part by heightened tensions in the Middle East.

Oil prices spiking 2% after President Trump said Iran will, quote, pay the price for being

slow to negotiate a ceasefire deal. Oil prices are up 35% since the start of the war,

helping stoke inflation concerns this morning's read on consumer prices in May show the

highest number in over three years. That report comes just one week ahead of the next Fed decision, the first one with Kevin Warsh at the helm of the central bank. So with all this uncertainty weighing on investors, what can we expect from the markets as we head deeper into the summer, Guy? What do you think? Great day of Rebecca here, number one. Number two, Tim.

Every day's a great day.

That is true.

I would like to agree with that.

I said it's a great day.

As opposed to other days. But anyway, proceed. You know, I appreciate you. You know, Tim is right. I was going to, now I'm going to say you're right again. because Tim has been, he's been overwhelmingly bullish for a while.

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