First, todays show is brought to you by the letter b thats because bond yields, bullion, big cap tech. Fed chair Jerome Powell gears up for a high stakes speech from jackson hole summit. With bullion up, big tech up, what is up with the market as we gear up for powell, guy . I like to hear you say bullion. I feel like im going to have soup or go back to doing what i used to do back in the day its wonderful you can do an entire show saying that word. Whats up . Risk assets are continuing to go higher based on we talked about this a couple days ago, the fact they said they will be a historic speech for the fed in the way they view inflation, the way they measure inflation and thats why the market took off and i think thats why you saw it probably move today into that speech the things you didnt mention and forget it but they didnt rhyme with b or start with b the russell was down today and the vix closed north of 23 those are two very interesting things to take into consideration along with the three bs that you just mentioned, mel. So the three bs plus the extras tim, how do you read the tea leaves i think youre going to get some backlash. I think ultimately, there is my b. First of all, risk assets are coming into this fed meeting with expectations but positioning and whatever you want to look at in terms of market sentiment, investor sentiment, the s p at an 84. Its nothing short of extraordinary. 11 move in netflix and 7 move in tesla youve got to be a place the idea the fed is your friend is something that will come back and bite the fed because the minute they change even a little bit of course here, it will be nasty, nasty we said this yesterday its about the feds communication about what inflation should be for them are they going with this symmetry, which means they can over shoot and give people sense the fed is going to still be their friend thats what this comes down to and if you look where markets are, the extraordinary thing is for all the runs that weve had in this covid19 of liquidity, stimulus and market momentum, this feels as frothy as it can get. It was nice for the ill literation today but bond yields off in the last week gold that pulled back off record highs was probably due to rally a little bit the most important thing is the fed trying to give themselves some opportunity to change policy at some point but probably not tomorrow. I know it was misleading but we said bond yields were up, not bonds were up. We were acre knowledginol l acke fact i know. Bond yield is like a backdoor way of getting bond yields in. Anyway, karen, you actually think there is inflation were expecting Jerome Powell to address that issue and potentially say that the fed will allow inflation to run hotter for a little bit longer than the fed has in the past or has by mandate there is inflation, though, out there you see . There is inflation and they want inflation because when you have a lot of debt, you want inflation to sort of make that debt relatively smaller. So yeah, so we have money just flooding the system, right the government is flooding the system feds printing money. One other thing i think he will pound hard on getting trying to get more stimulus this isnt something he has control over but hell pound hard on that anyways, this chart is showing while tenyear yields have actually gone up a little, when you subtract out what real yields are, which is negative, the difference between those two is inflation and we can see since the bottom of march, i dont know if the chart is up, if its there, you can see inflation is steadily climbing two things for me, when i talk about stocks and we talk about tina, there is no alternative i dont want to own cash purchasing power of cash is going down thats why we see the b from bullion going up and bit coin adding another b to the mix there and the other thing going on is that equity risk premiums are coming down, meaning the excess return one should get for owning a stock is coming down, and so that means the pe multiple is going up the lower the risk premium number is, the higher the pe multip multiple thats also what is driving stocks stocks i cant imagine with the giant stocks going up, something happened so unique today that was more important than this much bigger macro equity coming down so thats what i think is going on today i think powell was a dovish, dovish, pounding the table for more stimulus from congress. Thats a multi layered trade school by karen. Dan nathan here is my letter b word. It starts with bull and ends with the word it what is going on here is a bit insane when you talk about, you know, salesforce. Com its a phenomenal company. We talked about it two days ago being averaged and gapped up 5 on the news. Expectations high into the print. They put up a big quarter. After actually what was a lackluster quarter, the prior quarter, and you have this stock up 26 its gained 50 billion in market cap like that its not particularly normal to see that price action and it just speaks to the kind of environment were in there was panic buying in stocks like facebook, tim mentioned net flex, adobe, anything that has it related to it, i dont know how you can pull forward this much expectation, this much business in the middle of a pandemic, in the middle of a very deep recession and say to yourself this is going to end particularly well. We had 165 in s p earnings last year and maybe 130 this year and estimates are for 165 next year. Trading at about 20 times forward. That is very expensive for the s p 500. I dont mean to say thats a reason to sell it here but the behavior that were seeing on multiple levels in the stock market dont make a lot of sense here and ill just make one last point to guys gold. Karen, that was a great trade school if you think inflation is going up and yields will stay low, you got to buy gold here that bounce off the up trend from march is the way to play at least one way to diversify your portfolio in the gld. Guy, it sounds like these things put together really point to b for bubble. Or b for Blood Pressure because mine continues to go up because each day i just find myself watching and, you know, it does. My Blood Pressure is rising. Im at an age i have to be concerned about those things and maybe i should just relax a little bit is it a bubble i mean, listen, the one thing warren buffet watched over the met trirics and ways to the loot the market is this market cap over gdp and each day, that numerator continues to go up and regardless of what you think about the economy, its the same or it goes down in terms of the denominato denominator. Youre talking about a number that typically is excessive in the 150s, approaching 180 you explain to me how this isnt a bubble in terms of that met trick alone. Its fascinating to watch. Again, i clearly get what is going on Jerome Powell has an interesting dance to do tomorrow but karen made a good point. By the way, i think she would agree, its not the feds job to help us deal with our debt problems so clearly, that seems to be one of the mandates right now. By the way, we got full coverage of the jackson hole virtual symopsium. A states of play hole showing President Trumps approval rate something getting a bump ylan mui has more. Reporter bump a trump bump, President Trump seeing a bounce in our polling thats due in large part to more optimism about the economy we surveyed likely voters across six key swing states with change research and what we found was that 48 of them say they now approve of President Trumps performance. Thats up three points from his low in july, 47 gave him a thumbs up on the jab market and the improvement come as Economic Sentiment is starting to turn around 40 of likely voters have a positive outlook on the economy. That means they believe its either excellent or good, a similar number 41 are positive on the job market. These are the strongest readings that we have seen since mid may. When you compare trump to democratic nominee joe biden, 51 of likely voters now believe trump and republicans are doing a better job than democrats would at managing the impact of covid on the economy 49 say biden would do better. Melissa, when you look at our polling, a majority of independents say they support President Trumps efforts on the question and that is the key constituency to watch into november back over to you. Thank you very much for a long time we said the election is too far away and went through the dnc and getting through the rnc and here we are with the bump in the polls there is an interesting article on axios who has come on our show in the past that basically says, you know, it does look like perhaps there is a trump win that could be being priced in right now with the stock markets going up were not being a political show were just stating the reality that typically an income bent that is anti regulation and probusiness is typically liked by the stock market and thats how trump is perceived. I dont think there is any question that right now this is a Trump Victory stock market, and thats not a political statement at all it just the reality of what the market has not priced in in terms of any change of policy. Think about the people that are lining up to change tax policy think about the entire approach to regulation as it might even exist again around banks you think backs are going through a tough time now let me throw a couple more bs in there. The more i listen to both what is going on in washington and we talk about the fed, be careful for what you wish for but you have this connection is the fed political or not if the economy is so good and at a place where actually you could be saying hey, look, stock market is representative of the economy, the fed should not be where they are and you cant have it both ways and yet, we do have it both ways so if i may be political, i may suggest that i think there are politics that are involved with the fed but you cant tell me that this stock market is voting for anything but trump when you look at where it is right now. Karen, would you agree and if you do agree, that tells me that the minute there is a sniff of a biden victory, that could make the market off sides. Well, let me say it must be difficult for you to do a show entirely based on bs since you never got a b in your entire life, but nevertheless, we can do the b show. I think even if im not as clear, i guess, as tim on what this is is this a Trump Victory . It is do we have do we have gridlock regardless of who the president is and its hard to get big tax changes done and big regulations done when you have gridlock and i think that is likely but i also think that biden is seen as more moderate given his pick of Kamala Harris versus what he could have gone with more progressives. I dont think this is so clearly a Trump Victory. Okay. We got to move onto the next b basketball and breaking news news out on the nba, we have the latest on the newsline. Eric hey, melissa, thats right. The nba, the three playoff games that were supposed to take place. None are going to happen they are postponing them because the first one was supposed to tip off an hour ago. The Milwaukee Bucks decided not to take the court. They are going to boycott the game in the light of the Police Shooting that happened earlier this week. So that led to a chain of events here where the nba decided none of the games are going to happen and thats the breaking news in the last few minutes no word what happens tomorrow. What happens to the rest of these series the players are stuck in a bubble and the nba wants to get the playoffs completed without taking too much time with disney and at t tonights games, all off the table after the Milwaukee Bucks said they would boycott the game tonight. Thank you for the update. That escalated there is a lot of ways to go for it draft kings are up 3 in the after hours session. You got to look at the Media Partners in terms of not having this was the one right sport that successfully was able to play without covid outbreaks and random cancellationiscancels here they are cancelling all games tonight. If draft kings is lower, thats probably just machines enter bree interpreting the news. Thats a stock not in for it youre looking at the world and where its headed over the next five years thats a buy this is reminiscent, somebody will step up it was two years ago around labor day when memory serves when nike did that just do it regardless of what it could potentially cost you, something along those lines and if you remember the knee jerk reaction to the stock was lower but as it turns out and again, not political, nike was ahead of the curve clearly and that stock recovers for a lot of reasons. If somebody steps up to the plate to back this in terms of reinforce those things and you see weakness on the back of it, draft kings is a separate issue, i understand but these will be buying opportunities because i think, you know, people will come down on the right side of history and i think it was proven with nike two years ago. Dan, whats your extrapolation with this news here well, interestingly, i see that headline. I know whats going on in the Racial Justice side. That headline if it is for reasons of the bubble bursting down there its not if that were to happen over the next few years, that would be a very, very negative sign for just the reopening trade in general. Just think back to march 11th when they cancelled the season in the middle of an evening of nba games. Thats when it really got real for Corporate America thinking they have to shut down businesses thats my first thought there and then going back to that Battle Ground survey youre talking about, that brings me to big ten football take that Battle Ground survey again in a few weeks of those states in michigan, in pennsylvania, in ohio when the dont have College Football on saturdays and that survey may read a little differently. So i know that we think a sport is just sport. Its big business. Its a way of life for a lot of people here and i think it clearly reflects on the handling of the coronavirus and the subsequent lockdowns and were just seeing, werecontinuing t see the lack of visibility that we have for all of us going back to work. Were still sitting in kitchens, for schools are they going to go back to school are we ever going to sit in a stadium again and watch our Football Team . These are the things the economy lacks visibility on and you can look at any poll on any given day but to me, i think really the referendum is going to be on november 3rd, how administration dealt with this virus and i dont think its going to be particularly good for administration. Tim i think well be back in stadiums and there is a reopening trade that will happen and i dont think were going back to where we were. The nba is a look, a very important social leader as it relates to the virus and as it relates to the social injustices being protested and people are going to Pay Attention to this every time the nba moves and did move first and a lot of the rest of the world followed frankly. So this is a big moment. Having said that, i think its a temporary moment in terms of identifying a place to stop and draw more attention. If youre a buyer of draft kings, youre buying this weakness i not only agree with guy, youre playing a secular trend if you think shutting down sports for a week or a month or the rest of the season will detail Online Gaming and sports betting, youre crazy. Look to the municipalities how they need the revenue to start to fill some holes i believe in this trend in terms of markets and i believe in online gambling. We have more breaking news and this time out of washington d. C. Lets get to kayla for the latest kayla . Hey, melissa. This breaking news is on the stimulus negotiations. Republicans are refining a skinny stimulus package to be released among members of the republican parties according to two Senior Administration officials and three people briefed on the matter. They are looking to propose a 500 billion aid package to fund only the core programs where support is bipartisan. That includes expanded unelement employme Unemployment Benefits that could go as high as 400 a week. It would also fund an authorization for ppp loans for Small Businesses and funding for schools, testings and vaccines developed under operation warp speed. Now, despite the popularity of those programs that i just listed that would be part of this smaller package, each of these five sources i spoke with was doubtful this skinny package goes anywhere. Earlier today the white house chief of staff mark meadows suggested that democrats could seek to combine any sort of stimulus negotiations with a month end funding deadline for the federal government or wait until after the election House Speaker nancy pelosi wants republicans to meet her half way at 2 trillion this of course, is nowhere near that from republican standpoint, melissa, its an exercise to show their marker of what they believe could secure bipartisan support and challenge pelosi and company to take it up in the house. The politics behind this is amazing. Quickly, not just the dollar amount i suspect perhaps democrats are holding on for key planks of what is in their proposal that they dont want to go forward without. Im thinking funding for state and local governments, is that something pelosi would be willing to go to the mats for . Well, it would certainly seem like it. Republicans proposed zero dollars for state and local governments and democrats wanted a trillion dollars there is a view behind the scenes, melissa where democrats have really wanted to wait until after the election to try to move any policy that just a few months ago had been seen as bipartisan world broad band drug pricing some items that seen legislative movement has gone quiet because if they can wait until january or february, perhaps they can get an even higher dollar amount if there were a Democratic Administration or perhaps democratic senate. So there is really a sense of republicans not being optimis c optimistic they want to say this could pass on a bipartisan basis and challenge them not much market support or political pressure to do anything, especially with coronavirus case count numbers moving in the right direction. Yeah, that and the stock market going up in the right direction. Thank you. Kay will in washington, lets bring in dan suzuki. Thanks for being with us. Thanks for having me. You and your firm have been cautious of these markets. How painful is this to have big cap tech like we saw today just keep going, keep flying when your emphasis right now is on sort of the value areas of the market well, whats interesting, melissa is that we were cautious going through the year and that position served our portfolios well since april weve been doing is gradually adding back. Weve been participating but have been to your point doing it with the absence of the big tech names. We think that were not the type of company thats going to chase crowded expensive names and so i think those names are getting more crowded and more expensive and, you know, when i look forward on the potential way that this recovery could go, one of two things is going to happen you dont have to be a genius to think that either get more stimulus and that this recovery will continue in which case you want to own cyclicals. Tech we found was so resilient due to the nature of this pandemic, they have less operating leverage to recovery than some beaten down areas. On the flip side, if things do get worse, and we morph into a traditional recession, thats where tech cyclicality that we havent seen at all this year may come through and surprise investors because think about we seen sales force up today but think about these tech companies. What happens if we move into more traditional recession and see households and businesses have to slash their budget i think that from here in someways you could argue they are dammed if they do, dammed if they dont. Dan, currencies are typically things we dont talk about that much but its a front and center right now. Is there a point where the weaker u. S. Dollar seizes to be a tail wind for equities and starts to become sort of a head wind for them . Yeah, i think thanks for the question, guy. There is a point but i think were pretty far from that point. Typically, we like to look at the year end year numbers, its typically not until you see sort of a negative, you know, five to 10 level where it starts to be a noticeable negative for equity markets. I dont think were there yet. Its something were monitoring and some of that will be dependent upon a fed policy. Dan, were just having this discussion before about the markets and the political process with the stock markets at record highs, do you think that this is the markets telegraphing the belief that there could be a Trump Victory in the cards or do you think its simply too early to extrapolate that yeah, i think that the market on some level is starting to factor in the election i think its less implication for sort of what youre seeing on a day to day in the markets but if you look, there has been a clear correlation between the economy Getting Better, covid cases going down, trumps improving in the polls and betting markets and the markets seeing alltime highs. Its hard to parse those apart i think when you look at the volatility markets, though, you seen over the past few months youre starting to see increased concerns around volatility as we reach the election and i think that is more of the direct market reflection of what is happening with the election polls. Got it. Dan, thank you dan suzuki over at Richard Bernstein advisors were following more developing stories here along the gulf coast this time. Evacuations are underway as hurricane laura gains strength the major storm is a category four hurricane packing winds up to 140 miles an hour its expected to make landfall within the texas, louisiana border within the coming hours and could impact on the Energy Operations along the golf course, gulf coast, i dont know why i keep saying golf course. The reaction in the Energy Markets is so muted. I guess that tells you about the collapse and just demand globally for oil in general. I think there is supply. So there is supply around, right . So its not supply demand right now you see everyone, rigs closing down and production stop for a little while i think the market sees through it. Did flip and russell want to get in, guy . You know, its amazing. What happens is no, if somebody walks their dog this time every day and my dogs get upset. Im going to have to go out and have a chat with one of my neighbors because this clearly isnt working out. Shut up that worked. Brilliant. That worked. Kind of. Anyway, back to the oil discussio discussion. Oh, is that directed at me, im sorry, mel im in the dog world. I mentioned this the other day. Ten years ago, this is a huge story for eninnergnergy. Rigs down out of service and down for awhile affecting supply thats not the same anymore. They are retro fited to a point these storms dont affect them that much and supply delays are muted. Karen mentioned the real look historically has been home depot. I think oil services is where you want to be Goldman Sachs added halliburton a couple weeks ago a 20 price target and thats the name you want to own. Coming up, another street high price target for app it will well bring in the analyst that says the stock is presenting a once in a decade opportunity and what does gary cone have in common with the money ball and former House Speaker well find out when fast money returns. You say that customers make their own rules. Lets talk data. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept 5g, everybodys talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item corner offices for everyone. Just have to make more corners in this building. Chad. Your wireless. Your rules. Only with Xfinity Mobile. Now thats simple, easy, awesome. Switch and save up to 400 a year on your wireless bill. Plus, get 400 off when you buy the new Samsung Galaxy note20 ultra 5g. Welcome back wall street crowning a top apple today. Raising the price target to a street high of 600 a share with a bull case of 700 apple is presenting a once in a decade opportunity betting on another iphone super cycle joining us now is dan, the man behind the call. Great to speak with you. What has really changed in the apple stores since the reported earnings aside from 30 plus percent rise in the stock. There is a new 5 g phone later on this fall. Thanks for having me. Really tough its a few things. First, our checks in terms of supply chain checks in asia show an uptick with demand going into iphone 12 and this is really the last three to four weeks and i combine it with what were seeing in china, thats 60 to 70 million iphones in a window of an upgrade opportunity. I take a step back 350 million based on our math, 950 million iphones are in this window of an upgrade opportunity combined with services, thats why i believe its really an upgrade opportunity, a once in a decade opportunity for apple cook and cupertino as they look ahead. Lets back up on the stock. Lets say for kicks, dan, the stock were at 400 a share, 450 a share, would you be out today saying 600 and then 700 on the bull case . Im wondering because it seems like every single doesnt seem is the case that every single day so far this week an analyst has coal out saying they are the new street pricetarget on apple so it feels like a chase here as opposed to, you know, a fundamental change in the store that would trig they are wave of price target increases. Sure, its a valid point. Weve been consistent with our thesis on apple going back to 2014, 2015 in terms this would be a rerating story part of why in the covid storm weve stayed steadfastly bullish because of the services, the 900 billion is annually as 70 to 80 billion revenue stream everything we see especially in china choose a down tick were not here today making the call instead, to me, its a green light ahead, a rerating and no doubt, a lot of haters out there as the stocks hit 300, 400, 500. We, i believe in my opinion a year from now the stock has a six in front of it. Hey, dan, so lets go with that because look, i agree with you on the Services Business that alone could be a trillion Dollar Company the evolution of valuation seems to be the relative point here. Where do you have this stock on a 2022 because you can make an argument around 30 times based upon those numbers and we have a case where maybe weve had that once in a decade move. Not from now Going Forward the valuation for this company its no longer a Hardware Company now for some other people we talked about this with morgan ston lystanley, its relo tech platforms and consumer platforms. So its not even talked about in the Services Hardware mix. Yeah, but really, at the core dna continues to be the iphone cycle in terms of iphone 12 and to me thats the onetwo punch its a super cycle in the 5 g component but 350 of the 950 and upgrade opportunity. I view it like this. Two, three years out, this has potentially 25 of earnings power. 15 for the hardware business and as well as in the wearables, 10 for the Services Business and that some of the parts, i can tell you from the investor conversation over the last few years, thats the key. If you look in this storm, that Services Business thats held up which is a huge part of the bull thesis here thats really played out. Dan, great to speak with you, than thanks for having me. Dan nathan, what do you make of this call . Listen, i dont blame analysts for chasing price here. Hes obviously been very bullish on the stock, on the story, on just the whole echo system, product evolution. So you got to continue to justify. Nobody likes to put a cell onse company like apple when the stock gained half a trillion dollars since last reporting earnings, you have to say whatever you think that super cycle is going to be in the fall for an upgrade of the iphone, its probably in the stock here youve seen this panic buying here i dont think it can continue like this. I dont think anyone expected it thats why we see analysts tripping over each other the china stuff is not out of the were not done with that. Okay apple will be the last battle fought there and they have lost market share in china in iphones. If they dont Grow Market Share in iphones, they dont grocer vises and services is the thing thats vulnerable in china today backlash they can get for what were doing with tiktok or whatever and also in europe. Well see regulation of the app store. I just dont think theyre pricing in at 30 times forward any particular head winds for this story so, you know, all the power to him. He made headlines. He could be right for awhile i dont think you trade this thing into their upgrade cycle because i dont think its going to be a super cycle. Coming up, shares of box surging after the Earnings Report well break down numbers and bring you the trade when fast money returns come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Welcome back to fast money. We have more on box. Lets get to josh lipton with the numbers, josh . Melissa, i had a chance to check in he said hes seeing reporting increasing profitability, Stable Revenue growth rates and a healthy pipeline he said box is not immune to the broader reality of the economy now. Strong demand from existing customers he says but he is seeing softness in some segments like Small Business but bottom line, beats across the board and the stock is surging in the after hours. I need to check in over at da davidson he covers the name and says profitability well ahead of expectations, box is executing well he argues while controlling spending he does rate box a buy he says due to strong technology, strong enterprise penetration and continued room he argues for operational improvement from here. On the call he is saying he has over 100,000 customers the world today is different hes arguing Companies Want to modernize how employees work in the cloud remotely and box is capitalizing on that opportunity tomorrow morning it trends in themes hes seeing in the industry back to you. Josh, thank you by the way, what is extraordinary is it physical lows a 7 move in the regular session. Getting swept up in the Technology Boom in todays session and Earnings Results guy . In this case, the quarter was fine and wasnt a blowout quarter. What is getting the stock to move higher in the after hours is the fact that they gave Third Quarter guidance as well as full year guidance, which is again fine but the fact that they have that kind of visibility, the market is giving them the benefit of the doubt its not a cheap stock none of these are thats your bogey here it trades there and lets see what happens once it does. You know, i just mentioned it was a good quarter and the market is going after work from home names right now they dont care about valuation. This valuation is reasonable they still lost money in the last fiscal year id point you towards slack and an announcement that sales force made last week that they will allow employees to work from home until july 2021 when you keep seeing big employers like that making announcements, you want to own them its getting harder and harder to own a zoom as it touched 300 today. 85 billion market cap but slack to me, ticker work, that can fill a valuation gap between the likes of zoom and i like that. A brandnew big name entering this years spak boom. And later, filling the gap, the retailer is recovering nearly all post covid losses but what do they think is in ste . Or well bring you the trade when fast money returns welcome back to fast money. Spac, lets get to leslie to enter the game leslie melissa, when you thought who else is left to do a spac . Another one hits its gary cone teaming up with cliff robins now, robins spac was on file from july 31st then yesterday the filing was amended with a new name, cohn robins as cochairman of that spac they join a slew of other famous finances that launched spacs that include bill ackman, jeff smith and berry and former House Speaker paul ryan have also launched spacs recently. 79 spacs have been filed with 32 billion. Thats up 136 from the 13. 6 billion raised in all of last year and its only august. Melissa . Leslie, thank you leslie picker. I thought it was interesting that a sole book runner on gary cohns speak this used to be sort of a shady back water of financing, backdoor way of going public and here we are with some very famous people, very famous investors. You know, legends perhaps going into this space. Right, its a backdoor to an ipo. That makes it appealing to the target companies so this is a pool of money that investors believe that whoever the sponsor is, lets say gary cohn can find something and cliff robins can find something in their area of expertise to bring public through a backdoor andhe investor, they have a look at whether or not you like that deal if you dont like it, share your sells back to the company. Most deals get approved and thats the expectation for the sponsors who put up real money but they get a good cut of the growing concern. Its a really interesting mechanism what to me is crazy is how some of these spacs traded at valuations that are insane once they find something or before they do so for spac investors, if you can buy a spac share at the original offering price and wait to see what the deal is, you dont have a lot of downside its interesting the spac offerings does sort of sometimes send a sign of the top. But each deal is specific to its own. Its interesting. Tim ive mentioned its a sign of froth and an as the other way. This is a new way of doing mna and if youre a seller or company being acquired, its a chance to get liquidity then and there and have a stake and carry on and it means there is the per po preponderance and dominance where the terms are Getting Better for the target companies. This is an environment as an investor in spacs and a company, spacs are your friend and there is competition and this is not going to end this is going to continue with liquidity and could be a very good thing. Coming up, roku and netflix rallying today who is in the streaming battle well reveal which stock is coming up top and gap and what got traders eyeing this stock. Much more fast money after this welcome back to fast money. Roku topping shares initiating coverage with a rating and 180 price target saying its 70 million active accounts by 2022. Rokus biggest competitor netflix up dan, what do you make of the call you know, i much prefer netflix to roku. I understand the call from 40 million active users to 70 million to 125 in two years. Thats fantastic growth but thats if you believe that you need a hardware supported tv to access that content. I just dont believe thats the case Going Forward i think most tvs will have that capability and then it really is about the application and the user interface netflix has that covered and hulu has that covered and apple tv and amazon has that covered i wouldnt chase this one. Its not my cup of tea. Since dan made it a would you rather. When i do it, i get eviserated when i do it roku topped 168. I much would rather netflix going sideways since the Earnings Release now it seems to be going back to the upside so in the game of would you rather, netflix for me. Coming up, another retailer with earnings, the gap buzzing about the stock and well break down why and youre looking at a cramer cam. Jim is chatting with the ceo of 3 m. You can catch that interview at 00. M. Eastern time more fast money straight ahead. Dont settle for silver gold bond champion your skin are a major security concern. Cdw can assess your needs, then design and implement a secure Mobility Solution using the hp elitebook powered by intel 8th generation core processors. The hp elitebook features groundbreaking builtin security, like sure view to thwart visual hacking and cdw configures them to your companys specs. For mobile security, you need hp and it orchestration by cdw. [intel jingle] andwhat happens when by cdw. Switch to Xfinity Mobile . Well, the good news gets shared. And it gets rated 1 for customer satisfaction. But dont just take our word for it. Take theirs. Its your wireless. Your rules. Only with Xfinity Mobile. Call, click or visit a store today. Welcome back to fast money. Williamssonoma, online sales jumping 46 . The ceo saying strong trends are continuing in the month of august but no guidance for the fiscal year, karen. Yeah, i dont think no guidance is really a terrible thing. Ive always thought companies shouldnt be in the business of giving guidance but i think the stocks ran up too far. It seemed like a lot of their, i think they had weakness and Pottery Barn Kids and teens by willia williamssonoma, that brand up huge a pull back is warranted not because of no guidance but went so far so fast. All right in other retail news, counting down to gap earnings after the bell the stock is up 150 off the lows one options trader is making a bet the gains are here to still. Mike ko has the action, mike yeah, so gap stores traded over two times the average daily options volume the market is implying a move of 9. 4 after they report earnings. Thats more than the 7. 1 or so they averaged over the past eight quarters but ill point out, the company has taken on a lot of debt. They should be anticipating a bigger move. Interesting to see a larger trade we saw today was actually a sale of the weekly 14. 5 strike push despite the fact is trading essentially where it began the seller of those puts is willing to buy 300,000 shares of the stock at that 14. 5 stock price. Thats a discount to where it closed today but reflects some degree of confidence and could of course, be one of the 12. 5 or so Short Interest looking to cover at those levels, as well either way, were seeing positive signs despite the strong rally. Mike, thanks, good to see you. The full show is friday 5 30 up next, final trades. We did it c crowd cheering [narrator] wherever you start, snhu is where you can finish. crowd clapping crowd cheering here we go. [narrator] and its it. [group] yay [narrator] you did it, high five Southern New Hampshire university. [man] that gets a hug. laughing look at that masters degree, i did it i did this for my children. I am very proud of myself. [narrator] finish your degree at snhu. Edu. Time for the final trade lets go around the horn tim . Draft kings came up earlier the Online Gaming draft, excuse me, Online Sports betting leader the Illinois Initiative is opening up a huge opportunity. You stay with this name. Yeah, they paired their losses in the after hours. Dan . You know, i love stealing guys thunder here his glv gold it makes a new high over the next month or two so i think you play glv to the upside. Chairwoman . Yes, well on a show about bs, how can my final trade not be baba its up and there is more room to run on that plus, i think this sort of gravitational pull towards 300. So baba. Guy great power pitch by dan awhile back. Twitter headed to that 45 level. Thanks for watching fast money. See you back here tomorrow at 5 00 mad money with jim kraler sta cramer starts now. My mission is simple to make you money. There is always a bull market somewhere and i patrol mromise p you find it. Mad money starts now hey, im cramer. Welcome to mad money. Welcome to cramerica other people want to make friends, im just trying to make you money. My job is not just to entertain but educate and teach you socall me at 1800743cnbc or tweet me ive have been coming out here every night for 15 years and ive never once worn