Transcripts For CNBC Fast Money 20240712

Republicans are now diving into each different part of this h. E. A. L. S. Act as leader mcconnell termed this deal. It stands for healthic economy assistance Liability Protection and schools. The trillion dollar package has 105 billion for schools. That is more than was in the democrats heroes act from back in may. It has another round of direct checks and it has an add unemployment benefit of 200 a week. Thats a decrease of what its been for the last several months. But Senate Finance chair Chuck Grassley just noted this is going transition to 70 of a workers pre pandemic wage over the course of the next few weeks. Senate Majority Leader Mitch Mcconnell said that the virus doesnt care how fragile the economy is, but that the u. S. Is not write a blank check. It needs to be tailored for these specific times and crossroads. But democrats are already saying its far too tailored. After mcconnell took the floor, Senate Minority leader Chuck Schumer said there needs to be Food Assistance for kids and family, hazard pay for essential workers, funding for state and local governments, and there need to be more generous Unemployment Benefits and that the way the republicans are trying to calculate this is impossible. Heres senator schumer. Chaos, chaos. You change the unemployment benefit, its going to take weeks, if not months, for most people to get it. The economy crashes, people are hurt, they get kicked out of their homes, they cant feed their kids. What are you doing clearly theres a lot of daylight between where republicans and democrats are at this moment. In just about an hours time, the pressuretreasury secretary, house chief of staff and nancy pelosi are going to be meeting in the speakers office. That takes place at 6 00 p. M. To see exactly what this republican proposal looks like and how it will change from here. Thank you. A lot of daylight is maybe a polite way of putting it, guy. It sounds like there are vast differences between the two sides on this and the deadline is fast approaching. Yeah. And, mel, but i think the daylights going to quickly become some sort of deal because, look, everybodys going to politic on this. Its fascinating to hear Mitch Mcconnell say they cant write a blank check. I dont know when he became so fiscally responsible. It was just a few months ago that Steve Mnuchin pulled 4 or 5 trillion out of thin air. The whole thing is theater and somewhat folly as well. In terms of what it means for the markets, we have tony coming on, its bullish for the markets. The fact that the s p 500, is at the 3240 level, the level we broke down from in early june is good. Vix closing below 35 is also good. Despite a shake in last week, they find itself on extraordinary resilient ground. It ncourages people to stay long or be long in the markets, tim, at this point. I think the rotation weve seen over the last couple weeks is real. And i know weve talked at length about the divergence between growth and value. But if you look at what the dollar is doing, its certainly stimulus to the value plays in the market. Its very large for multinational companies. Its very important for companies that have any reflationnary dynamic to their livelihood. Weaker dollar which well talk about is one of themes over the last couple months. That has major implications for different parts of the company that have been somewhat beleaguered. If you look at what this week holds, weve been allergy it all day on the network, between the earnings, a fed meeting on wednesday, we started getting some rumbling over the weekend that they may be concerned about a bubble. Guess what we have one and i think this is something that guy also referenced. Its amazing which actually republicans have not necessarily shown that they can be fiscally restrained and democrats have actually gone the other direction. So i agree with the fact that its very difficult to believe that fiscal stim mu sluss driving the market. Its good were getting some kind of global, economic coordinated move. You saw that out of germany tod today. Durables number were better here today. Lets say the devils in the deda details. Lets say they meet in the middle down the line are we going to look back and say, oh, well, retail sales are down, consumers arent spending as much because theyre not getting the 600 that they had been getting for the past couple of months . Well, right. I think thats a good point. I think that they will certainly meet in the middle. But my question is, is that meeting in the middle actually going to be a robust catalyst for the market to move higher . My contention is that current market prices actually reflect a future economic reality that already includes additional stimulus. Were in this weird economic reality where if youre looking for a v recovery, its in manufacturing. Tim mentioned durable goods today so you see there. But we have a economy driven by services. You can keep giving people more money, but unless theyre going to leave their houses, as long as theyre not going to continue acting the way they did before the virus, then does that money find its way back into the economy . I look at some of those cyclical areas, and theyve had a good run. But my guess is over the next couple of months were going to default back to the comfort of that large cap tech type of trade. I think were going to need investors to believe that the economy is off to the races. We may even need to see slightly higher Interest Rates for us to see a trurotation in te rotatio cyclical before that sticks. We had plumed levels that we hadnt seen on the dixie for about two years. How does that change this rotation that were seeing or the strength of the rotation so, mine, the dollar is really its the new vix here. When the dollar was rising that meant there was some real tensions globally. Now that the dollars falling, its probably good for Financial Assets globally because the dollars the reserve currency. Emerging markets should do well, growths nationally should do well with a falling dollar. Theres a caveat to that. Its the goldilocks scenario. How hot, how cold do you want it to be . If the dollar really starts to fall and accelerate, lets call that the dixie below 90 and youve got a real acceleration and the inflation rate comes back, were seeing whats happening with gold and silver and other kmocommodities, then see that come and that would hit the market. But were a long way away from that. So weve got this tailwind again. I agree that i think the markets priced in the stimulus, to me thats why its the biggest risk to the market that if we dont get a stimulus i think the market has priced it in so it will have to price it out. But until proven other wise, you have a pretty good tailwind for equities here. Tim, you think the dollar gets weaker faster than we think . Well, 9 in 90 days, i hope it doesnt go yeah, i hope it doesnt do anything faster than its doing right now because an orderly decline in the dollar i guess is okay to a point. I just think that look at the divergence between the treasury market. We may make new nine closing lows, were very close. Thats the other side of this entire story. So, yes, i think its we see economic recovery, we do see stimulus, we see the fed going not very far from where they are which is having the back of the economy. But i do think there are some things the markets need to be concerned about after having priced in an enormous a. Gomounf good will. I think one of the issues here, guy, if you had studied markets and historical correlations and then you got dropped into this market today, youd probably be saying to yourself, what is the shheck is going on 100 . This does not make sense. What do you make of it i didnt get dropped in today, ive been sitting here obviously for the last 32 years. But since march specifically, exactly, i cant figure it out either. I dont pretend to know. I think i see whats going on, and i obviously have opinions. But, you know, if you had told me all this stuff six months ago, i would have painted much different picture in terms of where our equities are. Thats me being truthful. In terms of the dollar, tim sort of alluded to it. I took economics in college, i didnt do particularly well. On the graph point of diminishing returns, were getting close to a weaker dollar than what it means. This goes back to something ive said about the administration. They wanted weaker oil, they got it. And then they had to do an aboutface. And they obviously wanted a weaker dollar and theyre getting it. But be careful what you wish for, because at a certain point i dont think a weaker dollar is necessarily all that bullish for equities. Lets get more on what is at stake for this market. Bring in tony, the chief market strategy. Tony, always good to speak with you. Ill start off with the same question i just posed guy. What do you make of the markets gold at all time highs, weekly closing low on the ten year yield. 6 today. The s p 500 about 5 off from record highs. What does this all mean . Well, to what thanks for having me, mel. But to what everybodys saying, its all about excess liquidity. The market went into a recession market following the curve in a clear credit crisis that was developing. Opposed to what was happening in 2007 and 08, the fed got on the game faster than anybody thought they would. I think it was on april 9th where they announce thed were buying some areas of high yield and municipal debt. Thats a big deal because that takes municipal debt issuance and protecting it to some degree, allows for state and local agencies to not have to puke credit to raise money if they have access to the market. The way that the fed has handled this and created extraordinary liquidity. And the game changer currently on the turn in the cyclicals, which i think is much more important than what were even talking about, was when the oecd indicators, they track global economies, 0 of them at the end of june were positive. 0 . The only time i could see that happening in their data going back, all the way back, was after the was in 2009. Now, it works the data works with a sixweek lag. Whats interesting, though, is 90 of those 37 economies are seeing a positive monthtomonth change. Weve got historic liquidity, access liquidity and a synchronized Global Recovery that people are not yet believing in. So, tony, you came in a few weeks ago with a 3,300 s p 500 yearend price target and part of this call youre saying that the markets are in a consolidation phase. And pulling forward the assumption of a biden win raising taxes, democratic sweep, et cetera. And im wondering, whats on the other side of this consolidation, just straight up and how long do you think this consolidation lasts . So lets take history, because, you know, my opinion is irrelevant. The history, when the dollar goes down 8 or more, we did a study today that shows when it goes down 8 p or more, traditionally goes down double digits, anywhere 13 to 18 . Since the 2009 great financial crisis its happened three times. In all three of those times, you got the dollar so oversold, historically oversold like it is now on a 14 weeks it created a countertrend rally. I wouldnt be surprised to see a countertrend bounce in the dollar that would kind of churn the market a bet, especially the bigger cap names then you get another lag lower, which is hugely positive, not just for the markets. Lets forget about the market index. Lets look at the cyclical and economic stock. When i look at those three prior occurrences, from the peak of the dollar to the lower of the dollar, it was a doubledigit drop all three times. Emerging outperformed, russell outperformed, economically sensitive outperformed they have logged heroically so far. I think the real call here, my targets 3,300 plus. And its important to say the plus because i have no idea what youre supposed to pay for unlimited global fed, right . Its 20 times . I think its at least 20 times. Could it be 25 times sure. I could come out with a crazy target. But its more focused on the Global Economic expansion. Always good to with you. Thank you. Thank you. It is funny to think bay multiple based on qe infinity. Brian, it looked like you were nodding your head in agreement with tony there. Thats exactly it. How do you value this market when theres going to be unlimited amount of dollars printed . Its its a crazy number. And you wonder why the markets going up, because its being manipulated. Its as simple as that. Theyre buying Investment Grade debt. Theyve taken all the risk out of the market. You buy equities in this case. I do think what tony is saying is interesting. You look outside the u. S. And you are seeing the countries have that have the virus under control starting to come back to life and get some Economic Activity and thats probably relatively good again for the multinationals, weaker dollar, those should do pretty well again. Yeah. Jeff, time to look overseas . Yeah. Bk 1 exactly where i was going to go. When youre talking about a weak are dollar i obviously question if youre still in the u. S. But who with you look at the construct of the u. S. , theyre far more cyclical than they are here in the United States. Think when the dollar rolled over in may, you have ea outperforming by 10 to the u. S. And u. S. Is a servicebased economy, thats the sector thats most challenged right now, if you go abroad, its the exact opposite. I look at data out of germany today. I look at the fact that theyre not dealing with a device election coming up, and that think that that in combination with the fact that youre paying cheaper prices is the time to look overseas. I know weve been saying that for a long time. But the weaker dollar, youre more levered to doing better internationally than here in the u. S. Lets go to meg with the breaking news from pfizer . The vaccine news coming fast and furious today. Pfizer and his german partner now announcing they have begun their pivotal phase two three trial of their covid19 vaccine thats beginning in the United States they plan to enroll up to 30,000 participants. Theyll going to have 100 trial sites around the globe but the first one is here in the United States. Im being told that the first patients either have been dosed or are being dosed eminently. Theyre going to be roll around the world as well including argentina, brazil, and in germany. This will enroll up to 30,000 people ages 18 to 35 on that one to one ratio vaccine versus placebo. Similar to the ma dern know vaccine candidate. Pfizer was evaluating four candidates to take the best one forward. And the one that they have selected is one that they hadnt yet presented the data on. We saw data on one candidate. It looked good was the assessment from experts in the field. Presumably, the candidate selected looks even better. Pfizer on the release saying on the to esh in terms of the neutralizing antibody levels and tcell levels but that its more tolerable. They didnt see the same side effects like fatigue, headache. Notably with the vaccine they already presented information on, 75 of people on the 30 micro gram dose, which is the dose theyre taking forward had fever after the second shot. This will be two shots at the 30 micro gram dose. Theyre saying they have data on older adults on this vaccine from the early trials that looked good. The neutralizing antibody tighters were hire than people exposed to covid 2. Thats the news from pfizer right now. We should note that maderna started its phase through. This race is just kicking off in the pivotal trials for potential approval if these vaccines do well. Back over to you. Im just curious in terms of how the phases are conducted. Phase three, as i understand it, in vaccine trials is usually when you determine how long the vaccine lasts in terms of protection. These are very compressed studies and so will we actually have a good handle on how long protection lasts or is it just going to be were going to determine this once its distributed and in the field yeah, like everything with this pandemic, things are being done very differently. So pfizer is talking about potentially being in a position to apply for regulatory review by october. So if theyre just starting now, clearly by that point well only know a few months worth of protection data. So theyre going to be following the participants in this study over a longer period of time to see how long any protection does last. But, the trial will essentially be continuing even if these vaccines are given some kind of emergency use authorization. Meg, thanks. Meg terrell keeping on top of all these developments. Guy, i ask that question because, well, it seems like the market has sort of had a dulled response to each incremental dose, excuse the pun, of vaccine news. But, at the same time, you know, the assumption is that a vaccine comes out and to some degree its a lightswitch for people to resume Economic Activity. For from what meg is telling us, its not a lightswitch, its sort of like maybe its on, maybe its off. I dont know if you get a vaccine if youre going to change your behavior, at least in the first batch. Yeah. Well, personally, i dont think so necessarily. Vaccines, again, im not say r virologist, as they say. But theres a reason why they take 18 months to two years, thats because of the trials people have to go through and how fastidious these companies have to be to get them to market. Although they rush this one through, the polls say 40 of the people wouldnt take a vaccine right now anyway. I understand why the headline would be bullish for the market, but this reality im not certain thats as bullish as people think. Im in that 40 too, by the way, tim. At the same time, would you choose to if you had to choose a vaccine to take, say all of them were would you take the one from moderna which, would it enter 2020 had 20 candidates for drugs not yet approved and wasnt expected to hit the market for two to four years. Or would you take a vaccine from pfizer im only asking im not saying ones going to win or not win, but from an investor standpoint, this is an important question. I wont tongue and cheek say this is a would you rather id rather not be a part of. But think thats you know, we have a dynamic here where these are just headlines. And meg has gone into some great detail talk about the size of these stud detectives diies ando high in the United States, we need to get an announcement on where the leadership is on a vaccine process that has this massive study. I dont think that these announcements are market moving and i guess i would chime in and say the same thing. I think folks are ultimately going to decide for themselves and the lightswitch is not necessarily going to be flipped on or off. Thats why we are seeing the reactions in those most hardhit hospitality sectors, et cetera. I dont think that people are going straight back in. Otherwise, those are trades you could be in right now. But the vaccines are a guide post at best. Theyre not market trading eye vents like they were two years ago. Josh. So melissa, they have changes to the Companys Technology organization and executive team for intel. New names and new positions here in a range of departments, technology development, manufacturing, operations design eveni engineering. Theyre saying this is meant to accelerate Product Leadership and improve focus and accountability in process technology execution. Importantly here too, the executive is going to be depoorngt august 3rd. Thats interesting he was talked about at one point by some analysts as a emotional successor to brian. Of course all this coming after intel just reported earnings and tanked they talked about these production delays when theyre first 7 nano meter would go on sale. Back to you. Thanks so much. The chief Engineering Officer steps down, it sounds like heads are rolling, guy, for that 12month delay of the 7 nanometer chip. Yeah, and i think it was Goldman Sachs that downgraded the stock three or four weeks ago. Although i think they kept the 64 price target on it, not that thats meaningful. Intel was trading decently well a few wakes aeeks ago. Obviously the bottoms fallen out. Thats not good news. People will talk about valuation now. Im not certain you can cast it under that light. Now that 46 level, thats where it traded down to on the marleau march low. Its the movement of amd into earnings too much too fast i think thats something we have to talk about at the back end of the show. Well talk much more bin tell and the chip stocks. They surged to an alltime high today. Well tell you what got these shares moving. Plus, it wasnt just gold on a tear today. Check out bitcoin prices going up. Well tell you how much high theyre crypto coin can go. Stay tuned. Some Companies Still have hr stuck between employees and their data. Entering data. Changing data. More and more sensitive, personal data. And it doesnt just drag hr down. It drags the entire business down with inefficiency, errors and waste. Its ridiculous. So ridiculous. With paycom, employees enter and manage their own data in a single, easy to use software. Visit paycom. Com, and schedule your demo today. Lookentertainmentour experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. Welcome back to fast money. Weve got more details out of stimulus bill. Lets get to kayla with more. Kayla. Reporter the stimulus package is broke e broke on down into several different pieces of legislation. The one being spearheaded by senate Chuck Grassley deals with the nuts and bolts of the economic assistance programs. That is the stimulus checks and the expansion of Unemployment Insurance. First on the Unemployment Insurance, a summary released by grassleys office says that that will be capped by october at 70 of a workers pre pandemic wage but that its up to the states to actually make that calculation. And that there will be a cap on that of approximately 500. Ive inquired whether that cap is per week or per month and i will let you know what i hear. The plan also adds 2 billion for states to administer Unemployment Insurance erble essentially to help states get beyond these program log jams that we saw in april and may when the volume of people applying for these benefits was through the roof. As for the stimulus checks, the qualifiers are exactly the same. 1,200 for tax filers who are individually making 75,000 or less or a couple making 150,000 or less. The change, melissa, is that previously only dependents under 17 would qualify a family for that extra 500. In this plan, every single dependent qualifies for 500. Finally, one of the Employer Benefits that is embedded in this proposal is raising the kpl employee tax credit from 65 of wages to 50 of wages in the c. A. R. E. S. Act. But had is just a portion of the overall package. Were still going through and theres a lot more to learn. Melissa. Thank you. A lot more to learn about this and of course this is just the opening gambit of the g. O. P. So theres a lot more twood chwoodp on this. Were trying to get house holts holds back to 70 former income. I think if we look at the trades that have worked so far as it relates to some of the consumer trades, whether it be best buy or other electronics, i really think that the housing trade, look at the charts on a whirlpool which Just Announced last week, look at the charts on nasco, sherwinwilliams and then the homebuilders. These are the charts that stay consistent with the environment that is everything covid relate and also putting money in the pacts of households that may need it but, in some cases, they decide where theyre going to put it and putting it into the household with some of those other secular trends, i would stay in those names. Sherwinwilliams is one that the corner stone really pounded the stable on last week very decisively, jeff mills. Would you stick with this Home Building trade with the fed pumping liquidity into the market keeping Interest Rates so low, this is a trade that seems like its got legs. Yeah, i think it does. And my final trade on friday was dr horton. I think homebuilders as a whole, a specific name like that where youre exposed to the housing sector, he think you do stick with those names. Lowes has been catching up with home depot and making changes in management. I dont know if this is the catalyst that brings us high fwroir thigher, but if you look at tims suggestion, look for these things and they trade well. I bet youve built some nifty things in that backyard of yours. Lego sets, swing sets, and restoration hardware. Restoration hardware was a great story prior to this. Obviously, like everything else, it got whacked in march. But look at the move in rh from i think it made an alltime high today. Thats a name weve been steadfast on. So these dollars that are going back into peoples pockets is just one more tailwind for a company thats really done everything right now for the last year, year and a half, despite the fact that my building, you know, im more ikea than rh. So you like to assemble shelves thats impossible to pronounce. Brian kelly, youre picking the housing sector right now im picturing guy with an allen wrench putting together something with about a thousand pieces. But whats interesting is a lot of times people say dont buy xhb because its not tructi construction itb. But youre talking about a retail trade. Permanent saying im goi people are saying im going to be here longer than i expected, i need my own space, get the kids in another room. Those rates continue to grow. Interest rates ridiculously low. Its going to be that fuel. And you have to look, are any of those trends changing any time soon no. People have money, theyre sitting at home, theyre going to fix it up and theyre going to go to guys ikea, i guess. Coming up, the grand reopening hitting the rocks as the marlins delay their home opener. So how big a hit will this have on sports bet something well get answered. And later, earnings from visa, what they expect from the money reports. Fast moneys back in two. E o. And ill tell you some important things to know about medicare. First, it doesnt pay for everything. Say this pizza is your part b medical expenses. This much about 80 medicare will pay for. Whats left is on you. Thats where an aarp Medicare Supplement Insurance Plan, insured by Unitedhealthcare Insurance Company comes in. This type of plan helps pay some of what medicare doesnt. These are the only plans to carry the aarp endorsement for meeting their high standards of quality and service. So call Unitedhealthcare Insurance Company today and ask for your free decision guide. With this type of plan, youll have the freedom to choose any doctor who accepts medicare patients. And when you travel, your plan will go with you anywhere in the country. Whew call unitedhealthcare today and ask for your free decision guide. Get answered. They told us that selling cars 100 online wouldnt work. But we went to work. Building an experience that lets you shop over 17,000 cars from home. Creating a coast to Coast Network to deliver your car as soon as tomorrow. Recruiting an army of customer advocates to make your experience incredible. And putting you in control of the whole thing with powerful technology. Thats why weve become the nations Fastest Growing retailer. Because our customers love it. See for yourself, at carvana. Com. Welcome back to fast money. Weve got a very special interview coming up tomorrow. Bill gates sits down oneonone with andrew to talk Covid Response and the race for a vaccine. Thats only on squawk box tomorrow starting at 6 00 a. M. Eastern time. Well, it looks like baseball is back in jeopardy. The mlb postpone williing games coronavirus hit the marlins. Sports king tanking on the news finishing at 6. 5 . Lets bring in bernie of rosenblatt securities. Thanks for being with us. Thanks for having me. You cited the risk of covid19 into sports causing delays and here we what would this mean. It season were scrapped . Yeah, so i think right now were going to be dealing with this being the new normal of having canceled games. But really theres incredible demand right now or pentup demand for watching and betting on sports. So, what we saw with record ratings for opening day and then also in new jersey Sports Betting revenue was higher yearoveryear in june. So i think that. It mlb does get scrapped, its certainly a negative headline risk. But ultimately we think Sports Betting in the u. S. Is going to be a massive opportunity going forward. Is this the kind of thing where youre going to just look past the next six to eight months or so assuming that the mlb and whats happened there with the outbreak is probably going to happen with football to some extent and possibly with basketball too. Yeah. So it seems, you know, theres two paths there going forward. One is with the bubble, and thats also nba and the nhl. The nhl just got back 4,300 tests today that were all negative. It seems like the bubble in the nba is going great. Both those seasons are starting later this week. Were really bullish about that season being able to last. But then theres also the mlb and the nfl is which is having travel. Theres more risk there. Nfl is massive for Sports Betting. But, to your point, yes, we think that pro sports are going to come back at some point. So if its not this year its going to be next year or the year after and this is just a blip in the buying opportunity here for the longterm holders. Hey, its tim. Thanks for joining us. I guess my question really i about the competitive landscape. To me, draft kings is playing the long game and as sad as some of these setbacks have been for baseball, you know, youve talked about this with their market share and how youve modeled that. Who else is in the game . What other exposure is investors going to have to osb or online Sports Betting yeah, certainly. So we have draft king has a 25 market share long term, we think there that could be ultimately conservative. But we think draft kings and fanduel are going to be two of the major wirns here. Fanduel you can play through flutter, the owner there. And then theres other ways to play. Penn National Gaming is another one. Bar stool, weve talked to a number of investors who are very favorable on that stock as well. And then fox owns fox bet, which is really interesting. You saw fox sell off a lot today as well. Thats more can they make the transition from the bundle because right now almost all their economics are based on the traditional bundle. Cord cutting is accelerating. Its going to accelerate even more if there arent sports. So then can they transition with fox bet and their probably ultimate ownership of fanduel as well. Great to speak with you. Thanks for your time. Thank you. Jeff, this is a space that you liked. What do you think now . It was a fast it was a fast pitch of mine maybe a month or two ago. I still like it. Were going to have fits in starts. But looking over next six months were going to have more sports, not less. I think draft kings has the brand recognition. I think theres this dynamic, as more sports come on line, people are going to still be at home. So to bernies point, you have thin creased interest in long term Sports Betting. I think that sticks. And longer term, you have the catalyst in legislation. California, texas, new york, these are big states that have not yet legalized online Sports Betting. I think when they do, youll see a big tail wind to some of these names. I think draft king is well positioned to stick with it. I would rather i would sorry, pete. Go ahead, bk. Go ahead, big guy. Okay, bk will go. Im sorry. All right. So, on draft kings, this is what bk thinks is that the selloff today really overdone. I think if you think about it, how are human beings going to react . Theyre going to say, boy, i better get my bets in now in case the season is closed down. So i think if anything, it pulls earnings forward and the risk is that draft kings outperforms on earnings. If only we were in the same place, right like the old days, the old days werent even that long ago, right . Imagine that. He with wouldnt ha we wouo have all these delays. So youre watching hockey and that season is extremely long, as we all know. So you yore, mare you, mel. So what are you not doing you have a limited number of hours so what are you not doing and is that a loser on the back of sports whims . Its interesting. I thought, you know, if youd asked me six months ago i would have thought i would have been devastated by the lack of sports. It really hasnt borkthered me l that much. Its more passing to me. Ive sort of moved past it. I will watch hockey. But i dont think the hockey season is long enough, but thats another episode of another show. But to jeff mills point, draft kings, if youre playing the long game, this selloff is an opportunity because theyre doing everything right in a world that is just wants to gamble. I think you had a Record Number of bets on the ankee nationals game on opening day on thursday. That speaks volumes as the pentup demand for at least that industry. Coming up, the call that sent the chip stocks to another alltime high. What stock got the biggest boost today. And bitcoin boom. Why crypto may be a better buy than gold. Stay tuned. And to support our. At this point, peoples livelihoods are at risk. What can we do to support each other . Theres no room for competition. Were so much stronger than if we were to stand on our own. Welcome back to fast money. Taiwan semi shares soaring. The analyst boosting the chim maker saying intel delays paved the way for outsourcing opportunity and greatly expanded the market. Tsm shares up today helping to boost the semiconductor to yet another alltime high. I mean, specifically theyre looking at doubling the revenue from intel because they might outsource some of this stuff to tsmc. Jeff, you like this. Yeah, i think its interesting and i agree with the note. But youre talking about taiwan semi having added 34 billion in market cap the last couple of days. My question is has it moved a little bit too far too fast . I think thats the question we have to ask ourselves. I think Credit Suisse made som reasonable assumptions in that theyre saying by 2025 theyll have 25 percent of intels business. My question is, does that come to fruition . Is this a permanent shift in the production line or is it temporary to fill the gap . I dont know. But after the move weve seen, the stock has hit Credit Suisse price target. I would be careful trading the stock here. Overall, i still like the space. These are companies that have a lot of big tailwinds, whether youre talking about ai, 5g, you name it, its at their backs. But and i think investors are going to continue to look to the space because they have good balance sheets, cash flow, and showing growth. Even though a lot of these names like amg and nvidia are expensive, i think theyre going to look past that and this is a space that can still perform. And well get a read on amd later this week, guy we will. Last quarter they reported i think the stock went from 54. 5 down to 50 or so. We talked about it that night. We said its a huge opportunity between 49 and 50 you buy with both hands. Lisa will be on squawk box tomorrow morning, if you recall. That worked spot on. Now the enough to 69 to me is a little excessive it concerns me. I thought its going back to 60. This is an overshoot. So im inclined to take profits into this number and if it continues to race to the upside youd miss it. But i would expect youd see it go back to the 60 level and thats where you reenter the name. Coming up, the ultimate would you rather, gold orb bitcoin. Plus, shares of visa charging more. What trars adere expecting when the Company Reports tomorrow. Fafast money will be back in two. Welcome back to fast money. It wasnt just gold going higher today. Check out the price of bitcoin climbing back above 11,000 for the First Time Since september. Bk, were going to pose the ultimate would you rather to you, gold or silver or bitcoin well, i mean, for me, its going to be bitcoin. You might say well, bk, youre biased because you run a crypto fund. But i also trade macro, which means i have a whole bunch of Different Things i can invest in. Kurns currencies, stocks, bond, precious metals. And bitcoin has a better fundamentals, thats stock to ratio, its better at that point. When i look at the cycles, the bull markets tend to cluster around the happenings. So were tracking right along the 16 havening cycle. That would mean in 2021 youre looking at eight bitcoin price of 20,000. Thats the long term target. In the shorter term 10,500 was a big number. Were breaking out of a twoyear range. It would not surprise me, this is trading 101. Break out of range, goes to pryer highs, thats 20,000. To me, thats three or six months down the road. So bitcoin looks like it would go two to five times higher. Is gold going to go to 4 is now 5,000 . Youre saying 20,000 in three to six months and 50,000 in 2021. And weve heard these sorts of yeah. Sky high forecast in the past, 50,000, 100,000, whatever, its like and they never came to fruition. Why this time . I mean well. People are skeptical. People may be skeptical. In march bitcoin was 3,500. Its already tripled. And a lot of those projections were, okay, this is going to be three, four years out. A lot of people have 1,000, 2,000 in bitcoin in 2017 didnt think it go to 20,000. When it goes on these runs, it goes further than people expect. I dont think its outrageous when temperatures are its alrea it already been there. Quick, gold or minors gold, gold, gold. Ill say it again, ive said it, ill say it again youre going to wake up one morning, golds going to be 200 people are going to be like what happened by the way, youre seeing it in silver to a certain can degree. And the miners have been ridiculous. Weve talked about new pan American Silver for months. Those are just Getting Started despite the rhode island ridiculous move theyve had. Coming up, well dive into the visa trade and dont miss mad money fresh off earnings. The ceos of mattel and sky works. Cahy ae, we sit down with kevin mcrtt 6 00 p. M. Eastern time. But first, much more fast money right after this. Apps are used everywhere. Except work. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com car vending machines and buying a car 100 online. Vented now weve created a brand new way for you to sell your car. Whether its a year old or a few years old, we want to buy your car. So go to carvana and enter your license plate, answer a few questions, and our technowizardry calculates your cars value and gives you a real offer in seconds. When youre ready, well come to you, pay you on the spot, and pick up your car. Thats it. So ditch the old way of selling your car, and say hello to the new way at carvana. Welcome back to fast money. Shares of visa in the green today as the payment gears up to report earnings. The stock support more than 30 off march lows and option traders are betting tuesdays report could pave the way for more gains. Mike has the action. Mike. Hi, melissa. So we saw calls outtrade puts about by 3 to 1 today on above average volume. Right now the market is implying a move b f 6 higher or lower. 3 of the stock price, thats in line with the historic over rage over the course of the last eight quarters or so. Weekly options saw the most opening activity where the 197. 5 strike calls, buyers were paying about 2. 70 a contract. A lot of it was retail interest, it would seem, because the average trade size was about 4. Theyre betting that the good news is coming out of earnings and the stock is going to tried higher by the end of the week. Thanks for that. For more options action, tune in to thshe ow friday, 5 30 p. M. Eastern time. Up next, final trades. You may be learning about, medicare and supplemental insurance. Medicare is great, but it doesnt cover everything. Only about 80 of your part b medicare costs. A Medicare Supplement Insurance Plan may help cover some of the rest. Learn how an aarp Medicare Supplement Insurance Plan, insured by Unitedhealthcare Insurance Company might be the right choice for you. A free decision guide is a great place to start. Call today to request yours. So what makes an aarp Medicare Supplement plan unique . These are the only Medicare Supplement plans endorsed by aarp because they meet aarps high standards of quality and service. Youre also getting the great features that any Medicare Supplement plan provides. You may choose any doctor that accepts medicare patients. You can even visit a specialist. With this type of plan there are no networks or referrals needed. Also, a Medicare Supplement plan. Goes with you when you travel anywhere in the u. S. Call today for a free guide. Announcer final strayed sponsored by interactive brokers. Minimize your cost to maximize your return. Welcome back to fast money. We wanted to take a moment to pay tribute to a true fast money friend. Regis philbin passed away over the weekend. And loyal fast money fans will remember he was part of our family. Welcome back. Youre watching live with region us and melissa lee. That has a nice ring to it, doesnt it, regis . I think it should be 42 as well, but here it is meandering around 35. Why . Because i dont know. You got to tell me. Theyre going to need some help from faizer to keep holding this thing up. Pfizer . Thats another one. Pfizers going to make a move. Im so sick and tired of hearing about what a great pharmaceutical is, when is the stock going to move . I thought i could take your advice for the summer. Were trying to get some young blood in at green light, some young minds, and i was wondering if youve want to come intern for the summer exactly what ive got, some young blood. But ive love to join are you yore david. Im not kidding you. Put that jacket on. Regis philbin, you are an honor trader, you have won that fancy jacket. If i put the jacket on will i know what do with lis. Hes officially fast money. You will wear that tomorrow. Thats his acronym. I love it. I really do. We, of course, remember him for micron and molly cork and, of course, being a legend and a class act guy. He was, you know, you think about it, Regis Philbin came on our show in very early years. Regis was, is a legend and he gave us credibility, he was so much munn ffun, such a gentlema. Person you saw on camera, the same person off camera. Obviously well miss him a great deal. Best to his family and, regis, rest in peace. Time for the final trade now lets go around the historiorn. Tim. Going to miss are you, region us. Canopy growth one of the biggest in the business. Had a big u. S. Announcement on their hemp line. Stay in this line of can that bus, stocks are going higher. Rest in peace, reg. Draft kings, general milds convinced me on this one. I like it. Jeff. I like it. Well, sell boston beer, that move on friday was way overdone. Gave back a couple of percent today, but i think it continues to do so, so sell s. A. M. Guy. Sat 8 is sat pillar and my mission is simple to make you money. Im here to level the Playing Field for all investors. There is always a bull market somewhere and i promise to help you find it. Mad money starts now hey, im cramer. Welcome to mad money. Welcome to cramerica my job is not just to entertain but educate and teach you. Call me at 1800743cnbc or tweet me dow gaining and s p an