Fade it. Todays foul version. Are they worth a bite . Do they past the smell test . Are they past their Expiration Date . We could keep going. Only got an hour. On the desk tonight, tim se seymour, steve grasso, guy adami. The do you ending the day up 288 points. After the blue chip index started the day down nearly a percent. S p seeing its best day since august surging more than 1. 5 . The strength coming despite a bigger than expected jump in payrolls for september. The economy added 336,000 jobs l. A. Month. That strength initially sparked fears the fed could raise rates at the meeting. But take a look at the groups leading todays rally. Technology, communication services, sectors that dont usually thrive in a high interest environment did well today. Why are investors flocking back to these names . What was the jobs report all about . Good news was bad news and then good news was good news. If you look at the payrolls, weve averaged 2,626,000 jobs over the past three months. Lets be clear, theres no weakening in the labor force. If you hadnt included the additional participation rate, wed have an Unemployment Rate of 3. 6 . Nobody thought the labor market was going to be this strong. Is this good news . Is this bad news . Certainly means were playing out the sequencing longer for a lot of things to unfold. Theres no question that the fed is nervous about a labor market, and i think the fed is very much back in play. Everyone thought there was no way they could raise it. Thats not the topic. The topic is mega cap tech stocks which basically closed at their highs relative to the s p 500 year to date. The alltime highs back in 21 relative to the s p, but if you think about the run and all the weakness, we thought we lost market leadership. Semis are up 5. 9 . Qqqs are at their highs against the s p. This is a function of things are at least better. I also think were so oversold. Lets be clear, the tenyear bond was off 72 bips today. 72 of a point, which was a very big move. You have a dynamic, while yields may still be going higher, i think markets were just oversold. At some point the volatility or the velocity to the upside that were seeing in yields, and especially after we got that print on that hot data, its going to actually take its toll. It just has to. You can say, yeah, weve gone from 3. 5 to 4. 8 in the last month and stocks are only down 6 sooner or later its going to matter. If youre in the soft landing camp, and to tims point, okay, you know, youre doing okay right here. If you look at the technicals of the s p 500, it came down to that breakout level from june 2nd or Something Like that and found some support in an uptrend, found some in a 200day moving average, earnings season, had the quarter end. I get it, but lets just say this at some point, maybe just this jobs picture is the wrong thing to be focused on. If because if youre looking around, looking through the lens of the stock market, we talked about it earlier in the week, some stick to haves are not trading particularly well. We dont even need to get to staples or consumer oriented stuff, discretionary. The list goes on and on and on. To me the market, under the hood is Something Different than what did well today. I thought you were going to say that the rate spike had to subside, something had to give there. So thats the camp i am in right now. Whether its at five or a little below five. If that subsides, the market should rip higher. The biggest head wind to the market right now is still rates. We sort of forgot about the fed. If hike happens in november, which this jobs report seems to indicate or point to, then how can that i think thats where tim started with the fed is back in play. I think the fact that rates have spiked higher so quickly, that puts the fed out of play. So, the bond market exactly. Its not about the actual rate issue anymore. Its about where we are about rate issue. Its a higher than expected number for Second Amendment there are a lot of things on this report that seem to indicate hot markets. We play this game in which i tell you what happened happen and you guess the direction of the stock market. If i told you what this jobs report was going to be, would you have guess this would be the reaction of the stock market . No, absolutely not. The early action is what i expected when i saw the numbers. The late action, no so much. If you watched the show last night, tim seymour played the role of tom cruise in a few good men as he requested marco in an elegantway. The line of questioning was about current positioning. As we talk about all the time, fundamentals matter. Sometimes positioning matters more, and everybody seemingly got themselves on one side of the boat. We talk about 41. 90 being the line in the sand. Didnt get this. The market defended that moving average a couple times, which is encouraging. Of course the problem the fed is in play now. I think theres a 45 hike in november. And numbers make their job, i think, that much more difficult. And oh, by the way, he talked about a close being above the bond market is closed monday. I dont know what they call that holiday anymore. I dont want to fend anybody its Indigenous Peoples day now. Listen, i get it. Thats why i said im not sure. By the way, im half silcilyian the spotlight is greater. I didnt realize i asked marco, did he order the code red yesterday, but look, i think there are things to be looking at here. I also just think that the bond market steves bringing up an interesting point. We dont know where its going to settle out. I think were in price discovery on yield territory. When Central Banks arent buying bonds anymore, and theres a lot of supply. It means well probably overshoot, and it means i think the world we had again, reading a lot of the economists around the street this week where they sorted through what happened with yields, whats going on with the last fed meeting and those who are writing after todays payroll number, the world we precovid in terms of an Interest Rate is gone. Its not just gone because the fed had to move higher. Its what was already happening. And therefore i dont think we know, and i think this probably plays well to dans view, which is equities cant be worth this year. But i think its going to take us a while to get there. Where we were on the calendar, where we were with positioning, what kind of leadership. You can feel pretty good buying app and microsoft today, even though i didnt. Why isnt it enough to talk about qt at this point . The fed seems to avoid qt, instead to the tune of 95 billion, which is 25 basis points. So theyre tightening without tightening. Japan, china, theyre not buying anymore treasuries. The fed is not going to be buying. Theyre selling. Institutions are not buying anymore. Why dont you think rates will go higher . Because at a certain point you have to cover that short, and to guys point, everyone gets to the wrong side of the boat, and if now all of a sudden were not in a raising rate environment and were just focused on qt, then its a different narrative, different environment that allows equities to lift again. Weve got a wall of issuance coming out. I was going to say, do you think its short, still . I think its a lack of buying. Could be both. To mels point about the cpi, even with crude the way it came in over the last week or so, with this hot jobs data, if we do have other inflationary readings, the stokt market down 7 from all time highs the fed, they got a lot of room at that point. They can get more hawkish, you know . Lets just say they do this 30 chance of a 25 basis point hike. Lets say that inches up and we see cuts pushed out in 2024 which we have already. Theyre going to have to take a hawkish stance because they have to. They have to job own it. Thats why i said that nice round number of 5 as we get closer to the november 1 meeting. I think the chances of further hikes get priced in and the stock market has to pay attention. I think theres no interest the fed would have in even giving out a sniff of dovishness at this point. Theyve earned this. They dont have to give out a sniff of it. To a little tiny bit and the markets will take off. Thats not what they want here, guy. Theres no reason for them to be dovish in any way, shape, or form. Theyre getting what they want in this environment with the rhetoric theyre using so why not continue the rhetoric and continue the pace effectivelying in something breaks . Thats whats going to happen. Not that im suggesting people trade it, but the hyg, which had gone nowhere for months traded down to 72. People say thats not a big deal. Its not in the context of percentage, but this is an etf that doesnt really move, and it showed signs earlier this week. So keep an eye on that and just keep an eye on how the banks trade. Everything bounced today, i get it, but up until today the banks, specifically the names we talk about its going to be fascinating to hear what bank half america has to say, but bac, citi, wells fargo, and regionals didnt trade well. Didnt the renales break, though . When youre saying were going to continue on this pathing in something breaks, you could make the case something broke. It was a mini flash crash. Something broke, something was mopped up. We just made the bigger banks get bigger. So, the whole idea of what actually transpire second down probably what the fed doesnt want. You think weve seen the full damage. No. The only person that doesnt seem to know about the long variable lags is jay powell. All of us talk about it. Those lags are going to be coming a lot closer a lot sooner. For more on what todays job reports mean, lets bring in steve leaseman. Always great to get your analysis. We played the game with guy before, if i told guy what the number was going to be, they probably would not have guessed what the stock Market Reaction would have ended up being. No, nobody guessed what the number would be either. True. Whats interesting, melissa, and interesting about playing the game i dont know if guy won or lost. Hes a winner. What looked to be a in the bond market turned into a lazy day. Maybe hoping a top could be near in yields. Top shot up with news of the strong jobs report, then rallied in the late morning before drifting higher towards the end of the day. Thats a bad day in normal times but not the worst that could happen given how much yields have risen and how sensitive they have been to economic growth. Still, one of the three main reasons yields are going higher youve got Stronger Economic growth, larger debt issuance by the treasury and of course that fed hawkishness. The idea the fed might do less suggested earlier this week by two fed officials helps take off some of the string of the rising yields. Also and gas prices declined. You guys were just talking about this. The probability of a rate hike hedged higher, they remained below 50 for september and october. Market is not really going there when it comes to a federate hike this year. Theyre not going to be comfort wbl job growth remaining this strong. They want to job market to cool, but theyll be less concerned when it comes with falling inflation. How ldo you think the fed thinks about higher more longer in terms of context, in terms of structure issues in the bond mark with a tremendous amount of issuance that is yet to come into the market still and the thought that there are fewer buyers out there . So regardless a what they do, this higher for longer regime could still be out there. Yes. First thing i think theyre looking at is whether or not things are breaking. I think your discussion on that was really important. Thats the most important. Theyre watching the internals of the Financial System to see if these high yields end up being a shock that creates liquidity concerns. Thats in the first instance. Then i think theyre going to take a step back when it come to the macroimpact of higher yields. And what theyre going to think is, you know what . I could raise a quarter here. Why am i raising a quarter . The only reason im raising a quarter point on the short end remember, the fed controls one rate, the overnight rate is i want to affect the long end, the real economy. I want to affect the rates that banks charge customers for loans to expand or that customers borrow at. Why would i raise a quarter if the market already raised a quarter or more . Take a look back to mid july. What you find is half the 100 point game comes from the issuance concern and better economic growth. What have we done . Effectively we have raised the outlook for the Third Quarter up near 5 , and i dont know how much of thats thought to carry over to the fourth quarter. Betterissuance. The other began when the fed said, were not taking the rate hikes next year. Were going to be more hawkish than you guys thought. The market has been mispriced, the bond market, for Stronger Economic growth. Its been mispriced for its not going to ease up as much as it thought, and when the bond market got mispriced and tried to reprice, the stock market with us mispriced. Great to see you, steve. Have a great weekend. Pleasure. In our discussion of what breaks or when will things break, we speak of breaking as something definitive, something that happens, but it can actually just be a slow moving roiling through the economy sector by sector. Boy, thats what it feels like. Look at the move weve seen in utilities. Were going to talk about staples again, but when you talk about businesses that rely on funding and theres certain math that has to work and it doesnt work in this paradigm i dont know why we dont overshoot to the upside. I know we had a big move. I think we are exhausted in the short run. But again, this price discovery thats going on is not something we have had to do in a decade. We have been waiting for this forever. Tim, think about this. The s p down 18 last year. Up 12 this year. All of a sudden now we have an alternative to buying stocks. When you say, i dont know why we dont overshoot. Listen, youre probably right. Were probably going back. Have at it, people. No, im saying in the bond yields. If that happens, you think about it, the further we get into this, the lack of visibility corporates have about funding, inflationary inputs, demand. About all these sorts of things that to me makes a worse case for stocks. So if we do not all stocks. If you talk about the max seven you talk about they already have fortress Balance Sheets and become a more sense of safety for the overall. I agree with that. Thats why i think those things outperformed so dramatically. Ill just say this, though. If we do go into a period wherenter price slows theyre going to be crowded and trade at multiples that dont make sense in this Interest Rate environment. I think we can go become and forth on all of this, but right now they continue to hold up the stock arket. If you look at every sector, how much theyre down off their highs i know were going to talk about it, but what happened this week in staples, what happened in walmart and costco yeah, but theyre expensive. These stocks were bid up because they were safe and because it was covid. So it can happen to apple and microsoft trading at 27 times just as easily it could happen to them. Thats what im saying. It is amazing the magnificent seven can hold up in defensive plays but on days like today they also rally. Theyre just magic. I say sarcastically. Youre doing that again. Its friday and im in a great mood and youre doing that. Its just not going to work. Thats not going to work. Ill say this, steves point is spot on, and i think tim and dan are saying the same thing. I understand why theres this flight to perceived quality. Theyre not affected by Interest Rates themselves of course the problem is their customers are. So its a question of a certain point youre going to see the continued demand it needs to have for it to be the valuations theyre trading at, and i would submit that Interest Rates moving to the magnitude were seeing are going to be an impact on their end users. Perfect segue to gold. Yesterday the chart master said the appreciates metal was due for a bounce. Since then its jumped more than 2 higher. Lets bring in carter worth for more on where it goes from here. You put on a note marking the quick decline we saw in oil. You think the dollar is next this part of a corollary trade . I think so. Two weeks ago the tenyear was at 4. 3 . Does it, does it not break out . It did, went from 4. 3 to 4. 8, almost 4 hadnt 9. We had a lot of movement. Utilities cracked 15 and gold dropped 7, but gold miners dropped 15. Thats overdone. And so just as youre seeing rebounds, i think you play for rebounds, and we have charts, but gdx of course is the miners. I would play that for a rebound, and gld. You see it here on the screen. The miners, steve you often talk about that. The leverage in operating company is better then the commodity itself. The two biggest plunges, utilities and gold miners, and those are some of the two that got bigger bounces off the low. So i think theres more to come. Part of this call is also that rates are going to come down, and thats what you see for the tenyear yield. Right, theres this there are relationships that are inverse and direct. We talk about that often. All of us. Its not always quite as perfect as one could think, because if it was always inverse, then when the dollar was surging, oil should have been collapsing, but thats not what happened. Sometimes over the past year we have had great Dollar Strength and great move in the market. There is somehow this belief that you cannot have a weak dollar, lower rates and lower stocks, but of course you can. So i think ultimately rates come in, spike and reversal markets starting to feel like were getting to a peak. You sort of just answered it, duh if you have the tenyear, the dollar, and oil which have been the head winds toward the market, just talk about the s p, if you see those as head winds and now those start to dissipate, are you going to have where you just left off . Where do you see the s p going . No one wants to think that you could also have a lower entry market, but i think you can. We shall see. The max seven, we were pointing them out and you were chuckling as well. We have had that before. Its called dot com, fifty nifty, poll roid, kodak. If you go back the last 50 years, the concentration in the market, the top five stocks or top ten stocks are typically 20 . Right now its 30 . Thats the problem. Theyre still just too big. Can you make a case that etfs changed it . Could be. Has to be different because of the role etfs play now . I talk to clients who have been perpetually understood weight market. Theyre constantly stuck playing chess against something they can never properly weight because their mandate doesnt allow it. We have a lot of things like that. Carter, thank you. Coming up, exxon eyeing is biggest takeover since buying mobile. What it means for the energy space next. Speaking of deals, disney could be in talks to sell its indian streaming business. Which could make disney let it go . Dont no anywhere. Fast money back in two. sfx stone wheel crafting the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Meet gold bond daily healing. A powerhouse lotion that moisturizes, heals, and smooths dry skin. With 7 moisturizers 3 vitamins. And. New gold bond healing sensitive. Clinically shown to heal moisturize dry, sensitive skin. Gold bond. upbeat music constant contacts advanced automation lets you send the right message at the right time, every time. constant contact. Helping the small stand tall. The power goes out and we still have wifi constant contact. To do our homework. And thats a good thing . Great in my book who are you . No power . No problem. Introducing stormready wifi. Now you can stay reliably connected through Power Outages with unlimited cellular data and up to 4 hours of battery backup to keep you online. Only from xfinity. Home of the xfinity 10g network. Cmon, were right there. Cmon baby. Its the only we need. Go, go, go, go ah touchdown baby touchdown are your neighbors watching the same game . Yeah, my 5g Home Internet delays the game a bit. But you get used to it. Try these. Theyre noise cancelling earmuffs. I stole them from an airport. Its always something with you, man. Great solid greek salad . Exactly dont delay the game with verizon or tmobile 5g Home Internet. Catch it on the xfinity 10g network. Welcome back to fast money. Pioneer Natural Resources topping the tape today at more than 10 . Exxon mobil is eyeing a deal to acquire it. The deal could be announced as early as monday and would be exxons biggest purchase since 1999. It would also theoretically be the biggest deal globally in 2023. Guy, do you think this happens . Do you think it makes sense . Makes sense to me. And think about exxon doing it taxpayers a 60 billion deal. Effectively what theyre telling you is the Energy Industry isnt going anywhere any too many soon. We still need to be active. As tim mentioned hundreds of times the Balance Sheets were forced to be better and now they are so they can do acquisitions like this. Theres a reason warn buffet owns 23 of ox dental petroleum, because he sees the same thing. I understand its been a bad week, but maybe there was a positioning thing, but energy is still in play here, and i think this proves it. For exxon although exxon supposedly is not chasing upstream and resources. Pxd has some of the best oil assets in the group. I think at a time when a lot of this is scarce im talking about core resources that are worth more, and therefore i dont know why they do the deal. Wheres the premium . I dont get it. They announced numbers that were really strong. This stock was trading at the level it was rumored to be. The number that the journal had i think was 236 a share. It was trading there two weeks ago, three weeks ago. Im surprised the deal gets done at this price. W else could be a buyer. You could look at a royal dutch, another big integratives. Whether this gets into the geopolitics of oil. Could it be a foreign multinational . I dont know if it could. But again, exxon chasing upstream and chasing assets is something we kind of thought was not part of this new regime. And i think its probably a little disappointing to hear about the big boys trying to do this when the theory has been these companies are leaner, less asset heavy, paying back cash, paying down Balance Sheets. Exactly the reason i thought about it. If things are so good, why do they need to do this deal . Does it mean exxon mobil cant get Regulatory Approval . If you look at any chart in the space, the charts are terrible. All of them are terrible. Theres a lot more fast money to come. Heres whats coming up next. Announcer the disney download. The media giant reportedly looking to offload some assets. Does this mean the stock should be part of your world . Details next. Plus, the traders are going south of the boarder and checking in on the mexican market. Why stocks there are getting hit and what can be done about it. Youre watching fast money live from the Nasdaq Market site in somtimes square. Were back after this. Hi, im sally and i lost 52 pounds with golo in a year and a half. I struggled with my weight for a long time due to my thyroid issues but since being on the golo plan and taking release, the weight has not come back. upbeat music welcome back to fast money. Disney shares getting a boost today. The media giant in talks to sell its indian tv and media business. An indian billionaire reportedly one of the names disney held talks with for the sale as sell as sun tv network. We always talk about the overseas market, a tough market, especially when they dont have cricket rights which they didnt have because they lost out because an indian conglomerate bought it and broadcast it for free, which hurt disney. Seems like disney is serious about getting rid of assets at this point. It does, and i think tom rogers has brought this up. They seem to be negotiating against themselves in the media and driven by deals, which was never the way this company has been, especially for bob iger who is thought to be one of the great negotiators, at least in his sector. To the extent that this i dont see this as a major strategic sell, i see this as maybe remaining focus on what they have to do. I dont think this changes the game. If we were talk about selling all espn here and now and that at one point was seen as a major catalyst to the stock, and now seems like part of the core offering. I dont think this is all that big a deal. I think it shows disney is looking at everything, but trying to be more efficient within the structure. We also have the reports recently, guy, of exploring the sale of abc, and thats what i was thinking of when i was thinking of asset sales to slim down and refocus. I dont know if youre a fan of yellowstone, but theres a term called circling the wagons when youre in trouble, and i think thats whats going on at disney. Maybe its the right time to do it. The stock made a tenyear lower. The bounce might be the market saying theyre finally going to try to get down to core businesses and focus on whats important . To tims point, it seems as though theyre doing it against themselves but at least theyre trying something. I think thats why at least today the market seems to be rewarding them. Coming up, mexico stocks sinking again, but our next guest says the country should be one of the best Investment Opportunities post covid. What she thinks needs to change. Plus, a staple sector continuing to fall. Make sure youve got your coupons. A game ofrf esh or foul straight ahead after this. This is Spring Semester at fairfieldsuisun unified. They switched to google tools for education because theres never been a reported Ransomware Attack on a chromebook. Now theyre focused on learning knowing that their data is secure. frustrated by skin tags . Dr. Scholls has the breakthrough youve been waiting for. The first fdacleared athome skin tag remover clinically proven to remove skin tags safely in as little as one treatment. Welcome back to fast money. Stocks pulling off a big reverse until todays session, the dow jumping nearly 300 points. Nasdaq climbs nearly a 1. 5 . Insta cart, the stock down 40 . Shares of gm higher after uaw announced it will not expand the strike. Shawn fain saying General Motors agreed to celibateries meantime, mexico back in the headlines after secretary of state blinken and other members meet with the Mexican Government to tack it will border problem along with fentanyl. That comes days after the mexico announced tariffs at the airport, which rocked stocks there. Its been messy months for mexico etf. Our next guest still says theres great opportunity at the border. Joining us now, Michelle Caruso core cordera. Great to see you. These capricious moves scare businessperson. The near shoring trend should be great for mexico. Everything post covid should be great for mexico. Theyve got lot of free trade agreements, proximity to the united states, and belief between the two countries that we need to secure the supply chain, and every time the president does Something Like this, it just rocks confidence and causes incredible c volatility. This isnt the first time. Back in may he seized 120 kilometers of rail line because he want and it took it from a publicly traded company. These are things when you cant predict them it leads to your question about how much rule of law is there in mexico . Why . Was it the elections coming up . Hes very, very popular extremely popular. So its not like hes going to lose. He can only one for one term. The next election is between two women. One who is very similar to him and his policies and then a more conservative woman. The next president of mexico is going to be a woman, which is going to be historic, and the conservatives have really come out of the gate and has actually gotten all the other opposition parties behind her, which is a formally leftist and right wing party are backing her against the amlo candidate. Its one of the reasons the central bank has kept Interest Rates so high at above 11 due to the uncertainty there, which is one of the reasons the current si remained so strong. Great having you here and talking about emerging markets. When i think about mexico i think about a currency thats at times been extremely volatile for the geopolitics and headlines, much more over substance. Youre not a currency analyst, but you understand the dynamics with the current account. Seems to me for this investing in mexico, getting the currency right is as big a deal as getting the politics right. Thats why you see the central bank keeping it high. Every time, some company goes to build something in mexico, they have to buy the peso. You have natural support of the currency. The other thing thats important and we can criticize amlo for a lot of things but he hasnt gone full erdogan on the central bank. Hes allowed them to be orthodox, which has happened a lot in latin america, because theyre very fearful of inflation, because they have had it. You mentioned volatility. We can be very negativing you i know many people who have made a very good living trading the volatility out of latin america. Because theres so much volatility, you can really trade these markets in a way where there isnt a lot of volatility in other markets at times. Is there a thinking that when we leaves office there will be fewer interventionist actions . One depends who wins. If his act lite wins i think hes going to follow similar policies. Hes interventionist on something particular, which is infrastructure. He want a new refinery thats cost way too much money and was unnecessary. He wants to create this rail line between the Pacific Coast and the east coast. So these big, big projects that arent well run go over budget, et cetera. Not sure if she would continue those. Michelle, great to see you. Always a pleasure. Michelle caruso cabrera. You been trading this . Love mexico as a marketing i agree. But their response this was a period where latin america looked interesting. Brazil began to cut rates. When they start to cut rates you see insurance and pensions get into the equity market, and its a major follow through that you see. But names like coke, wallmex, american mobile. They are worth owning at this time. When you look at the charts, the eww is still up over 10 year to date. Even though its had a collapse recently. But michelle who has a background in journalism and politics, the right wing of the party here has been super aggressive against the Mexican Government as to what michelle said, rule of law. So youre going to have to absorb a lot of grenades that come on the tape side of this, because theyre thinking that the Mexican Government is not really establishing rule of law in their own country. Coming up, its a friday edition of trade it or fade it. Were digging into the staples afraid. Are these stocks fresh or foul . Find out next. Celebrating hispanic heritage, heres citis head of investments. It allowed me to bring the best of me and my culture to work. Being latino can be your superpower. I believe it generates a diversity of thought and inclusion. My advice for latinos is really to bring your full self to work, to allow yourself to not forget your roots, and actually maintain your sense of belonging to your community. Welcome back to fast money. Consumer staples the only negative sector in the s p 500 today, and over the last three months down 3 . One thing weighing on them, the surging popularity of weight loss drugs. Bank of america with a note saying the food and befrm sector could see a hit to demand as people reduce their calorie intake. We thought wed play americas favorite game. It really is. Trade it or fade it. I thought it was a different name. Just hold your horses. Trader or fade it but we will do it with a wrinkle today. Were going to ask these traders, are these stocks fresh. Ugh. Or foul. I know whos making those sound effect, and they are cute. The traders are spoiling for a fight, so lets kick it off with cocacola. Tim seymour, fresh or foul. I didnt think a can of coke opened or closed could ever go bad, and probably you could dip things in it and they would never go bad. Thats fresh. Its fresh. Its not fresh right now mm yeah, yeah. But i do think coke is overdone. The whole carbonated soft drink dilemma and who i just think these stocks are run too far. Yeah, i mean, people still have to hydrate, guy. They may not hydrate with a full sugar coke, but might choose water or diet coke. Always choose water, mel, ahead of carbonated sugary drinks. Im with tim on this one. I think coke is one of those brands the selloff is enough where mm dip your toe into it. The sound effects are good, right . Actually better than the content, which is troubling. Those girls are topnotch. Dont be mean to tim. Grasso, lets see if yours is fresh or foul. Its going to be fresh. Mm slow on that. If you think about it theyre going into a seasonally probably tail wind area for alcohol going into the holidays, and ozempic, i dont think that restricts our alcohol content. It suppresses everything. That changes everything. Just kidding. Going seasonally into a sweet spot. Also they just instituted another buyback. They vote on it on monday. Its going to last for about a year. You dont buy because of the buy back but you like the support of the Company Buying the stock. Tim, youre a bar owner. You know the seasonal tail wind when it comes to drinking. Constellation is coming up on i owned it a lot over the years. I dont own it now. Some of the margins, there are concerns here in the spirits base. These are Great Companies who have been through a lot. I think youre going to get them lower. Id be foul. Ew ew, ew. The next stock here is kraft heinz. Dan nathan, what do you say . I think to tims point, when you have stocks, a sector in a free fall like this, a whole host of things, like, this is i dont know why you have to step in. I think it really comes down to its foul right here. Ew im going to be selling this. If you own these stocks or any you own right now that just dropped 30 in a Straight Line in a month or two or Something Like that, and now you actual traded reasonable valuations relative to their history. Again, i think theres going to be opportunities. I think you would just look at the xlp at some point in the not so distant future, but again, i think theyre going to make lower lows. Steve, what do you think . This is going to be foul for me as well. This has been a declining trend line since january. Its down 21 year to date. Margins are probably collapsing as inflation reseeds. Guy, this is for you. Hershey. Mm. Thats it . Youre just going to say it . Fresh or foul. Im going to play the game correctly and say foul. Absolutely foul. Eww the parks are funk but ill tell you something, the product mix, nobody wants salty snacks. Go back and listen to their Conference Call in july. It aint working out all that well, and although the stock has gotten lam basted theres still room on the downside. When this gets to 17 times earnings give me a call. I think its currently trading at 21. So harsh considering your candy bag is often filled with products from hershey. Hold on a second, lets be fair to the folks at haribo who sent us a 20 pound boxes with a handwritten note. Whats the last thing hershey did for us . Nothing wow, thats hard core. So im going to jump in and im not going to defend hershey. Im going to go foul. But those arent salty snacks. One of the best days in my life was taking my kid to hershey park. Thats sad. Whats sad about that . One of the best days our your life . Are you with me on this . In 2012 i took my sids to hershey park. Best day of your life . It was a great day. First day i took an instagram photo. June 2012. Any way, four and son hanging out you think would be a good time. 17 times is probably long. Guys right. Coming up, its back. Earnings season around the corner. Options trades seetom be betting big around one bank. The name of the trade. More fast money in two. From chrome to duckduckgo. Duckduckgo is a browser you download to your mobile and desktop devices. Unlike chrome, the duckduckgo browser has privacy builtin. It comes with a private alternative to google search, which doesnâ– t spy on your searches, and it blocks cookies and creepy ads. And theres no catch. Its free. We make money from ads, but they dont follow you around. Join the millions of people taking back their privacy by downloading duckduckgo on mobile and desktop today. Welcome back to fast money were closing in on Big Bank Earnings season fast. Bank of americas front and center. The stock is down a whopping 21 this year, and the Options Market is betting that an even bigger loss is coming their way. Mike khouw is here to break it down. What do you see . Not one of the ones reporting next week, this is one that saw the most bearish activity, though. Three times its average put volume, and that the result of a lot of activity in the june 15 puts, june of next year. Saw 130,000 of those, including a big block of 73,000 for just over 25 cents a contract. The buyer of those puts is probably hedging against a big move lower. Yeah. Dan you have been commenting about how lousy bank of america has been. Its interesting when mike highlights Something Like that. And again, mike knows this very well, the Options Market is saying theres about a 5 probability those puts in the money, right . When you think about how somebody might be positions its interesting to think that someone might be playing for 15 that far out in the future, though,s the a long way to go. Think about it, stocks at 26 bucks. Its just not likely to mike, thanks. Next, final trades. Cause the rit information, at the rightrit time, may make all the difference. At humana, we know thats especially true when youre looking for a Medicare Supplement insurance plan. Thats why were offering seven things every Medicare Supplement should have. Its yours free, just for calling the number on your screen. And when you call, a knowledgeable, licensed agentproducer can answer any questions you have and help you choose the plan thats right for you. The call is free, and theres no obligation. You see, medicare covers only about 80 of your part b medical expenses. The rest is up to you. Thats why so many people purchase Medicare Supplement insurance plans like those offered by humana. Theyre designed to help you save money, and pay some of the costs medicare doesnt. 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The call is free, and theres no obligation. You know medicare wont cover all your medical costs. So, call now and see why a Medicare Supplement plan from a company like humana just might be the answer. Time for the final trade. Lets go around the horn. Guy adami . In the word of james taylor, mexico, ive never really been, but id like to go eww. Tim . You got a friend. Ill tell you that. Ewz i think is your friend as well. I think brazil if mexico works brazils going to work even more. I think the currencys going to strengthen. International tonight. Steve . Wrk. I think it goes much higher. Dan . Cart her a call on the dollar, i think short of the uup. What a week its been. Thanks for watching fm. The. Dont go my mission is simple. To make you money. I am 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, i am jim cramer, welcome to mad money. Welcome to cramerica. Im just trying to make a little money. My job is to entertain, and help days like today can happen. Comment at first glance, this report may