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 top tonight.

A historic move to increase oil supply, not doing much to immediately lower prices, and stocks are feeling the pressure from those higher energy costs.

We'll rate down all the action, the impact on everything consumer and housing related.

And credit crunched asset management stocks sinking again today

as private credit concerns continue to rip through the market. The outlook for these stocks

and what are guest traders heard at our company's financial services conference this week.

Plus did Oracle give the all clear for software stocks? What's got Uber shares driving higher today?

And all in on Caesars, the casino name popping reports of a new bid from Tillman Fortita, the details in whether you should bet on the space right now. I'm Melissa Lee, I'm from Studio B at the NASDAQ on The Death Tonight, Carter Braxtonworth, Dan Nathan, Guy Dami, and Lori Calvesina, head of U.S. Equity Strategy at RBC Capital Markets. Always great to have you, Lori.

Thanks.

We start off with the choppy action on Wall Street today. The S&P closing just below the flat line,

while the Dow lost 290 points, the NASDAQ managing to eke out a gain for its third straight day in the green.

The energy trade still front and center amid the conflict in the Middle East.

Crude oil prices making a comeback from yesterday's 12% drop, rising well over 4%. WTI settling above $87 a barrel, while Brent,

the global benchmark, nearly hit $92. Arbob and gas oil also sharply higher. Energy stocks

higher as well, leading the S&P up 2.5%. The jump coming even after the International Energy Agency said it would release a record 400 million barrels of oil to mitigate supply disruptions.

Also this afternoon, President Trump saying he will tap the U.S. Strategic Petroleum Reserve to lower energy costs.

Amon Javvers has some of the details there.

Amen.

Take a live look here. The president is speaking in Hebron, Kentucky right now. It's campaign-style speech. He's talking about jobs in the economy, but we're going to monitor it to see if he follows up on these comments on the Strategic Petroleum Reserve. There you see the president in Kentucky. He's talked to a local TV station in Cincinnati on his way to this event, and that's where he made those comments about the

Strategic Reserve. He said he'll draw it down a little bit, and then he'll fill it up later.

He didn't give any specifics in terms of the amounts. But earlier today, the president also

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