Right now at Fastest Strong Jobs Report, a somber take on the economy from Elon Musk and

a stern warning from Cleveland Fed President Loretta Mester, soft tumbling on this

trifecta of news, so where do we go from here? We'll ask the traders, plus Apple's brutal

sprained down more than 15 percent in the last two months. The chart master is here in the house

to take us inside the numbers ahead of next week's big developers conference.

And later, Amazon's 20-for-one stock split set to take effect. What impact will this move have

on the options action for the tech giants? I'm Melissa Lee. This is Fast Money Life from the

Nasak Market site in the heart of Times Square on the desk tonight. Tim Seymour, Courtney Garcia,

Guy Damien, Pete Najarian, go found our marketerbellion.com. We start today with a stock slide to close

out the week, the Dow shedding 300 points, while the Nasak dropped nearly 2.5 percent. The loss is

pushing all the major indices into the red for the week. The catalysts are better than expected

jobs report. The economy adding 390,000 jobs in May, more than the 323,000 expected.

And that fueled speculation the Fed may have to be more aggressive with its rate hikes.

Cleveland Fed President Loretta Mester weighing in on the policy backdrop on CNBC today.

I don't see a hurricane, but we have to realize that the risk of a recession had gone up.

Meanwhile, Elon Musk warning the Tesla could cut 10 percent of its workforce amid a super bad feeling.

Those are his words about the economy. So could there be more pain to come? Was this the correct

interpretation of these three data points today, Tim? I think it was just a reiteration of the Fed

that has to be data dependent has reiterated also that they're going to be in play the next three

meetings. What happens beyond that? We don't know. The payroll number was disturbing for market

bulls if you think that positive news on the economy is bearish. And it's been a week where we've

really been, I think the market's fortunes have really rested on that less so. It's been top down

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