Live from the NASDAQ market site in the heart of New York City's Times Square.

This is fast money.

Here's what's on tap tonight.

Stocks whipsawing, short-term rates dropping, and the dollar down.

We dig in on the market reaction as tensions between the president and the Fed share hit new highs.

And back on track, a trio of crypto-related bills seem to regain momentum last night, but facing another set back today.

What it'll mean for the industry as Bitcoin trades near record highs.

Plus, we're watching shares of United Airlines after its latest earnings report.

Johnson and Johnson gets a jolt as Q2 results beat expectations.

And we're counting down to Netflix's report tomorrow

afternoon, how the options market is setting up ahead of those results. I'm Courtney Reagan in this

evening for Melissa Lee. Coming to live from Studio B at the NASDAQ on the dust tonight. We have Tim Seymour,

Karen Fireman, Steve Grasso, and Guy Adami. And we start with a growing feud over the Fed that sent ripples through markets today.

Stocks dropping midday on reports that President Trump could try to fire Fed Chair Jerome Powell, quote, very soon.

But then, staging a turnaround after the president walked back plans to pull the trigger for now.

Treasury's firmer on the back of that news, with the two-and-ten-year yields both moving lower

and the dollar also weakening slightly.

For more on where things stand between the White House and the central bank, let's bring in

Megan Kisela.

What a day, huh, Megan?

Quite a big day, Courtney, the latest escalation here, as you said in this long-running feud.

But what the president said today is that he's not currently planning to fire the Fed chair.

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