Is there any significance in that delay . Were following reports throughout the afternoon about what kind of opposition might come from democrats and what kind of opposition, if it all needs come from republicans that would stall this. I dont think there is any significant opposition, and any significant democratic opposition. It is theyre trying to provide a minimal level of donald trump to register their disapproval for their own supporters. So i think thats why theyre holding it up. The fact gold prices today were one of the things moving higher, there is a lot of ways to look at the flight to safety. We were just talking about volatility. There are signs of how people are expressing their anxiety about the environment. Oil prices are up about 2 . It doesnt seem to me as if the markets in general have really looked for those places would register a lot of heightened anxiety. I was joking that markets almost just never wait and see when everybody says, we have to wait and see. Right now it seems like thats what theyre doing. If youve just heard this inaugural speech, how would you respond to that . I cannot wait for that. If your Approval Ratings have followed peso lower, too, how to put into changes, simply from the election of donald trump. How theyve played out from one of the biggest trading partners. The biggest source of immigration for us in recent years. It was a little delayed as they were getting out of that luncheon and making their way to the roadway where the parade has followed along the national mall, the National Archives building, past the Trump International hotel. Then we saw it turn on to 15th street. Many different groups from all over the country participating. As i understand, it is a little bit slower. Nonetheless, 8,000 people, 40 groups. The Franklin Regional High School marching band from murriesville, pennsylvania. The sheriffs possie. The west monroe louisiana High School Marching band. Think about what a moment it is for those young people. Forget politics. They are people who have the honor of a lifetime to march down pennsylvania avenue. Observe this historic tradition in the United States. Im thrilled for those kids. I thought it was a big deal being in my eighth grade marching Band Christmas parade. I cant even imagine what an opportunity would be like. There they are. Carrying on no matter what the conditions are and no matter what might be happening a couple blocks away. I want to bring to viewers attention an attack just made by Chuck Schumer by President Trump on the floor. And it goes to an order the president signed. I have not seen other coverage of this order other than what Chuck Schumer said. And i havent seen a notification from the white house. We said a flick of his pen as president , he reversed a recent decision by h. U. D. To reduce annual insurance premiums. He said after the speech the president gave about his support for the class, he said look at what the president said and then an hour later, look at what the president did. Well look more into this. The Senate Democratic leader has just hit the new president on the senate floor for this. Did i see a flash about that earlier. That they were suspending this cut to mortgage fees. Now the new h. U. D. Secretary is ben carson who is not confirmed. So the he doesnt have someone in place there. So theyre suspending the cut to the fha mortgage fees. I remember they were discussing how this cut might go through at the end of Barack Obamas presidency. It was seen as something not ap controlling to housing that brings pack memories of the last crisis. We did see those headlines. Chuck schumer is going after him and trying to hold this up as a contradiction between rhetoric and the reality. Thats a theme theyre going to. Theyre going to try to hold his actions to that standard. We can tell that you a lot of democrats who are watching this have these buttons referring to the obamacare act. These are House Democrats on the inaugural platform. They were wearing buttons that. Protect our care with a hashtag. The crowd is thickened out a bit from when the Vice President went by. The president of the United States a little before that as they make their way through. When the Vice President came by about 30 minutes or so ago. Plenty of applause. You can see by the window that Vice President pence and his wife were waving to the crowd. Just before that, President Trump and his motorcade made their way through. I had said there was a bleacher set up where you had to have a ticket to get in. It was empty throughout most of the day. And then you saw a pickup in activity once the president s motorcade made its way through. I havent seen any protests along this way. Remember, most of those were on the exterior of the Security Check points, which i showed you a while ago. This is about pageantry, pomp and circumstance as they go by. Melissa, man, what a day for the economy, for markets, for wall street, for may not street. This is absolutely fascinating to watch it all play out. It absolutely is. You were commenting about how traders were looking for more specifics. This was one of the shortest inaugural addresses, president jimmy carter. We got a broad stroke vision and what hes outlined in the past. Was it more protectionist . I would say that it wasnt any more protectionist in materials of his rhetoric when it comes to trade. On the website, just hours old. We know already that they will withdraw, thats the plan, with draw from tpp. They want out of that agreement. And theyre going to negotiate tough trade agreements. Very tough and very fair is the quote on the website. In terms of what traders are looking for. I dont think they got a reason to sell which is what we saw in the markets. They didnt get a reason to buy. We saw that exactly when it comes to the flat line. We didnt see the trump trades or anything like that. You get a feel for how it plays out. It is not something that would be a swing factor in terms of overall affordability. It is a fee had been reduced or waived for modest size mortgages. It really does only affect smaller mortgages and it was something that was basically waived or reduced to help people who were trying to afford a mortgage. The fha, thats its role to make housing a little more affordable. And mainly it affects mortgage insurance. The main effect is to be a benefit to owners of Mortgage Backed securities. Thats the dollars and cents of it. I dont know that it was in the air but the fact that it was reversed in the first minute i suppose shows something about maybe the priorities on the economic side. It could be one of these things that. Look, this was an action taken by the obama executive branch. Were undoing a lot of that and this is one of the first tangible examples. And we have more news. To update our viewers on the completion of something that started on the senate floor a few minutes ago. James mattis has been confirmed as defense secretary. We expect a vote forthcoming very soon. Or perhaps in progress right now on john kelly, general kelly, the choice to be director of homeland security. And i wonder how much more we should expect out of the weekend . Are the expectations so my every passing hour is skrooexcruciati investors . I dont know about you, but thats the feeling that i get. As you can see, theyve just confirmed james mattis as secretary of defense. The question is, some of the hearings havent even been scheduled yet or pushed into february. Democrats are trying to slow walk it. They were chagrinned. They wont roll over quickly. There is only so far you can hold things up when youre talking about a president s cabinet. Most members of either party accept the idea that ultimately a president needs a full team. You may have one or two go down. This is a process of stringing it out. So whether it is trade, housing, it seems like every aspect of the economy virtually, investors expected to be touched by the Obama Administration here. And that i think traders and wall street, it was a wait and see approach when it comes to today. The very first day of the trump administration. It will be the first obviously week where the administration will kick into high gear. It will be an interesting five Business Days on the job for donald trump as the 45th president of the United States. Thanks a lot. Were going to continue watching as we come to the conclusion of this, with the swearing in, the inauguration of donald trump as the 45th president of the u. S. We have the whole fast money gang here in what sfwurnld a chaotic inauguration day. Lets kick it off with you. If you look at the motion, im not sure you can draw a lot of conclusions. But what do you think . Theyre optimistic. We talked about this. Everybody was talking about how it was set up to sell this inauguration address and in fact, the opposite actually happened. Once he started speaking during that address, which in my opinion, he was sort of describing it as a distoppian United States. An Education System that gives our students no knowledge going forward. Rusted out. Factories, landscape, maybe there is some truth to that. I dont know. The market did sell off on what i thought was the back of that, came back and closed on the highs. The market doesnt give you this much time to buy low and sell high. So whatever you think about the day and the inauguration speech, i think the market goes higher. The longer we stay close to record highs less than a percent. Were 10 points away. The more chance it goes higher. That speech, whether you liked it or hated it. That was the feeling in Middle America that people felt disenfranchised. It felt like the School System was terrible. They didnt have a seat at the table in the country. Thats what got him elected. The market will go higher. This is exactly what we knew was donald trump, right . His platform has been all throughout the campaign trail. Was this a departure in any way in terms of the level of protectionism in the speech . I dont think it was from the level of protectionism. I think it was a depart that you are people thought there could have been a wild card statement made could have derailed the market. When he started speaking, every trader on our floor stood up. Everybody had their eyes planted on the tv. I looked at the market and stay little pull back when you started to speak was traders just canceling their orders and letting the market drift. I dont think anything was said negative. I dont think anything said was super positive. Im happy that nothing was said that derailed people. As women, the markets have held up despite protests around the country and some of the biggest investors do remain bullish. Scott spoke to one of the biggest investors out there, karl. Those on and around wall street and the investing world are certainly reacting to it. I asked him to react. Emthe people was angry, nationalist, pop lyft, intolerant and air ganl. He was on the platform attending his very first inauguration. Donald surprised me coming on so strongly about the establishment. I admire him for doing that. I admire him for not just saying, well, lets be buddies. He came on extremely strongly and a look at what the future would be. I think it will be a confrontation to some extent. And that i think might be a good thing because it will really promote change. Which you have to have in this economy. Whether it remains a good thing or not for investors remains to be seen. I spoke with john paulsen, the hedge fund manager, who told me he got more long on Donald Trumps election. And even though karl ikohn was outspoken, danieling his very first inauguration, even he admits that now the heavy lifting has to be done. The legislative process is messy and thus will could be some peaks and valleys, some ups and downs along the way. Is he are many of the people i spoke to are optimistic about what donald trump will mean for the country and the investors. Im going to donald trump in here. Were taking look at the trumps walking into the white house. What a moment this must be for this family to enter the white house for the first time. For their father having been inaugurated. Were seeing ivanka trump, jared kushner. Theyre walking in at the tail end of this parade. At the end of this very historic day. For the nation as well as this family. You see the pences there. Steps of the white house. Mike pence, his wife karen pence, hand in hand, walking down that driveway as they resume their New Residence in washington, d. C. Walking into the viewing stands there. Scott, back out to you. We were talking about billionaire investors and such. The absolute flip side to the protests you saw earlier today really a stark contrast to whats going on here and along the parade route which has really been law and order for the most part. I should say the protest that we saw by protest standards, certainly the ones that people saw and witnessed today, were far and different. These were for the most part, peaceful over here. Nothing more than joining arm by arm and preventing people to getting to the Security Check point. A couple of more physical confrontations but nothing to the magnitude of what they witnessed in their locations which were a little further away. At least a handful of block or so from the parade route. Thats where they started to get more dicey. When you got closer to the parade route. Maybe within a block or so. The most that we saw were some protesters who claim to be peaceful but were preventing people from going to the Security Check points. The parade for the most part is maybe winding down. The crowd is a little more sparse than they were when the Vice President and the president of the United States came through. Maybe mike pence came through. The Vice President about 45 minutes or so ago and then president shortly before that. People are watching the parade. Some sticking around. And youre watching the Vice President of the United States and his wife walking in to a warm reception. Brian kelly, in terms of your reaction to this day. The markets on monday . I think what you have to look at, in the speech, donald trump, the president talked about infrastructure, infrastructure, infrastructure. And then you saw metals and mining stocks, john deere hitting new highs. So thats what the market focused on today. I think leading up to this people were a little concerned that he would back off and he didnt. He hit it pretty hard. Come monday, well probably see tweets and all these things that will create volatility in the market but it is clear well have the infrastructure built. And were watching the president and the first lady walking there along the viewing stands. John harwood in d. C. , lets go to you. This is the moment where donald trump is finally going to walk inside the white house and take full measure of the responsibility that he has. He has balls to go to tonight but the real work is starting now. And he and Melania Trump certainly appear pleased. With that pleasure has got to come a lot of humility about what theyre facing. The wave of the world is now on this mans shoulders as he enters the residence as the first time as president of the United States of america. What a moment were witnessing here on this inauguration day, 2017, as donald trump shakes the hands, pauses at the door and is about to enter that structure for the first time. His new home for all intents and purposes for the next four years. And what we dont know is whether in the couple of hours or an hour before he exits again to go to inaugural festivities, whether he is going to sign executive orders that reverse significant portions of president obamas work. Weve heard he was going to but we havent had that yet. We could see something on ethics, on Transpacific Partnership trade, something on health care. We just dont know. And well find out. There you have it. The president walking into the white house for the first time as president of the United States. The crowds are greeting him, cheering and applauding. Melissa, i think he entered the reviewing stands for the parade. Not the white house itself. Hell go in after this parade completes. And i think what john brought up is a very good point. Tonight will be about balls and celebrations. What he does between now and then is a little bit of a wild card. We were talking about wild cards that could have happened during the inaugural address that didnt seem to materialize. The while cards that could still be to come. You talk about wild cards, you have to think about the level in the market. Were talking about big gains since the election. The s p is up 3. 5 from the prior all time high. So the last month or so, weve really traded in the 2 range. Look at the volatility index. When you look at the level of complacency and the level of unknowns, i dont think it sets up the markets going higher. If we get infrastructure, we get lower taxes. Thats the other thing. The dollar has come in a few percent. It does set up for a higher market. I think the levels of complacency are places we havent seen in a long time. Well get volatility very quickly. He will confront two sets of realities. When youre looking at thing like infrastructure and caterpillar being very close to the highs here. Number one, you have to get plans in place. Thats a political reality. The other thing you have to face is economic reality. The strong dollar is not good for companies that have most of their revenues from overseas. It is not good for caterpillar to get revenues from domestic construction. Where oil is concerned, he wants to make the country completely independent. Thats been said many times. What will drive, rebuilding the north american restructure is oil prices. Weve only fallen off about a Million Barrels a day from opec. If you see them cheating, you wont see Oil Prices Rise significantly. I think theres a couple things. The market is actually hoping, it is hoping he is not going to have any blunders. The market wants higher. And with that sense of complacency, is he going to have the one offs . He has enough of his team that are keeping him in check. To brians point, thats rallied. To mikes point, the dollar sold off. So i think it is getting a little breathing room. Maybe theyre just shooting from the hip. It seems like theyre not shooting from the hip. It seals like calculated measures, talking dollar down to give it more room to breathe. And i think people are so under invested in a in a lot of sectors. I think you will see services move higher, refiners, still a big question mark with the border adjustment mark. Financials, materials, under owned, industrials, underowns. Services. People keep piling in because it is the only safe bet. This is a big event that has been on traders calendars. We did not see that materialize. In terms of the next theme on your calendar, that could be the catalyst. What do you think . Certainly earnings coming up. We have to worry about those. I think the geopolitical part about this, not a lot of people are talking about. You want to talk about tail risk, he didnt address, the president didnt address today how americas geopolitical stance is going to change over the next 24, 48 or several years. But certainly it will be different than it was. You could see something along those lines that might sthok markets. Interestingly, on the heels of the inaugural address. The vice chancellor of germany, theyre taking note. Even though we think the tone of the inaugural address was along the same lines of donald trump on the campaign trail. Donald trump president of the United States, other people are watching taking note. Your point, the most protectionist inaugural address in the history of our nation will be interesting over the next few week. Weve got more coming up. Well take a quick break. Were looking at the trumps. Jared kushner, the first lady, barren trump, the Vice President , a military salute as the marching bands walk by. We are monitoring all these events on this very historic day. Lets talk about this. Not surprising, on the floor of the New York Stock Exchange erupted in applause and