First, start with a troubling trend confirmed by the tough jobs report. Only 98,000 jobs were added. That is only half the story. The real story, the complete decimation of the retail industry. In fact, it was the worst two monthperiod for job creation for retailers since december of 2009. Ouch is it setting a major warning for the rest of the market . And if these jobs that are so important to the economy are actually going away, what does it mean for the economy and the markets . Guy. Thats it. I thought the retail trade would auger poorly for the market. It hasnt yet. This has been the story for quite some time. You can argue the other way, listen, people are changing the way they spend money, theyre not going to the malls, the stores. There is a lot of truth in that. Then you overlay the auto number, which were disappointing. You paint that pastish if i may of maybe the consumer is in trouble. I think Consumer Debt is above a trillion dollars nor the first time ever. You are talking about a major kink in the armor for the broader market. That being said, if you want to trade the retail space the three places continue to be home depot, which apparently is teflon and master card and visa, which are both in a whisper of an alltime high. Thats a negative pastish. I do agree with that pastish. We havent mentioned the Border Investment tax which would make that pastish worse. It would make it an awful lot worse. They havent been able to get anything done, so the chances of it happening i think are relatively slim. If you look at the disconnect. Right. We brought it out to the broader economy. They put out a gdp now report which forecasts what the gdp is at now. Amazing name. It came down 0. 6 . Down from 2 . Its probably north of 3 . There is a massive disconnect. You better get this together. I think it will impact its obviously impacting the economy. I think it will impact the market at some point in time. The only problem is we talked about a gdp perfect, right on there, it seems like the economy should be getting weaker. Guy spoke to retail sales. You look at the other side, the Housing Market has been good. So theyre making it, moving out of the parents basement, millennials, home buyers are buying homes, credit has to be available, which is bullish to me. Retail sales negative. Durable goods, negative. When you look at those things, there are aspects in the economy that work. I think retail, xrt is a buy right now. Vat tax not going to happen. We seen it with amazon, yesterday agreeing amazon red does not happen that often. March looks works, april looks better. Weather better. So you have a couple of things that are tail winds. So i do think at this point it probably is the Tipping Point where retail, those names that were thrown out for a bounce. For a bounce. The set uplooks favorable for seven names because guidances have been leaving sandbags. So i would stay away, 100 from the lower quality names, you might think you get more vix because we have a bounce. More of a move. They have been beaten down. I would say, looking at skechers, its a name throwing off free cash flow. They get 50 of the catch youre shore. They will have over a billion dollars in the Balance Sheet by the end of this year. Thats a name you could say i want to own, burlington stores, a safe name. Look how much that stocks held in. So you can make did you see the data points about under armor losing . You still want to own skechers . Theyre buying skechers, but not under armour . Skechers are throwing off massive cash flow. Its shifting, its turning. Think stocks goes up. At the end of the day, those are names i am owning rather than macys. We know write the retailer off. The sector, why own it . Look when we said energy, when energy went to almost zero, right, why own it at all. Heres the difference. In retail, its a huge one, that is demand could bam come back with a stronger economy. Do you think retail jobs, stores will go back up . Hold on one second. Amazons kicking butt in the retail. Right. Burlington is kicking butt. Adidas going online. Its brand, right . Adidas is a massive brand. If you look at their december quarter, amazon beat on profit but missed on revenue. So its not exactly like theyre so moved by it. Its a secular share. I agree, to your point, theyre closing stores, theyre becoming so efficient. It is so set up for that bounce. I dont know if there is a secular change, malls are going more online. Malls are dead. Let me say, malls are dead. Theyre dead. So a company like walmart will do well because its set up to do well for a couple different reasons, we can talk about that on the show a stock like target will not. All right. So if you think malls are dead. You take a look at silent properties, spg versus prolong trust. What do silent profit do . They have the smallest mall reit in the country. This tells the story of retail right here when you go online, you need more warehouses less malls. That means less employees. So that ultimately has an impact on the economy. But if you want to play retail and that big shift thats tapping on. You boy plv. We mentioned that great interview yesterday on squawk box. This stock has gotten lumped in with the rest of the reits. I think incorrectly. So i think if you look at the Business Plan there, they went to a retailer that might be a little squeeze, a consumer that might be a little squeeze. I this they have 95 or so occupancy rates and they pay a tremendous dividend. So if you are looking for a place in retail. They get in. Skechers, tanger is a name 4. 2 dividend yield. This is a company with 95 occupancy. Theyre considered strip malls, if you will. People are going to those and their value, people go to those, so theyre home runs. I love that stock. One major retail stock bucking the trend, walmart make it a top former on the dow. It comes after advisers upgraded the stock to outperform. Joe feldman joins us now. Joe, great to have you with us. Thanks for having me. Are we to believe walmart invested into escaping the fate of the other retailers that are being squeezed by amazon . We do. And we think theyve repositioned quite nicely and are on a path to greener pastures. Really, theyve invested a lot over the past several years, theyve cleaned up the stores a little bit. Its invisible when you are in the stores, you really see that. And theyve tran six towards this omni channel model with internet and digital better than most people gave them credit for doing. I think that thats, were just at the beginning of that and as you guys were just talking about. As you kind of look out, three, five, ten years out, it may be a situation where you have amazon, walmart, home depot, costco, a few others, these big megaretailers should be among the winners. Are you worried at about all about up creased traffic or biggest checks . Its partly because of the woes of the other retailers, walmart is able to capture that additional dollar from qohls, from a target . And thats sort of a one offer until the other ones get off their feet and it becomes harder comps . Well, no, see, i think thats because walmart is doing a better job they are capturing a customer as you guys were talking about a minute ago. Also with the consumer under stress, walmart performs a little bit better. What we thought last fourth quarter, when they reported a few weeks ago, a month or two ago. They would have had a lousy fourth quarter. You we heard all the department stores, others, target had lousy quarters, walmart took share. Walmart is doing something, i think its cleaning up the stores, the investment and pricing. Its all those things combined that has made a difference for walmart. Joe, no question, the stock proves that, you look at target versus walmart, the change in the two of them the dichotomy is pretty stark. My question to you is, at what valuation is target too cheap and at what valuation is walmart too rich . Well, its interesting, were using a pe multiple of 17 times to get to our price target of 82 right now and we have been key ba debating that. Saying its historically 16andahalf, somewhere around there. If we think they will continue to take share and be the leader with amazon out there in general merchandise retail, i think a higher multiple is warranted. You know, right now target needs to prove that they can change things and make things a little better. Weve seen bits and starts, listen, i had a buy rating most of last year, didnt work, admittedly so. We got off that, because i just didnt see it. I see walmart and amazon taking share, target is kind of squeezed in the middle there. Thank you. What did we all do today, grasso . I am sitting on my hands. Theyve had every reason to crack. B. K. Talked about it cant get out of its way. You said the markets have every reason, therefore, i buy . I still am long in the market. It liented up on semi conductors. For me i sold my quall. Com, micron. Im long the housing stocks an those deal names, but i am looking at the market overall as far as the s p goes, i think you have to get back in if the market breaks above 2400 on a technical bounce. Then you have to start continuing to lighten up if we break below that 58 s p cash. I remember walking to work this morning thinking that exact same thing, you wake up, seeing the future versus basically barely moved. We sent to himahawke missiles in syria. A teflon mark, obviously, a confidence, sort of like a symbol for the president. I looked at it and said i got confident with that the market feels like its resilient and doesnt want to go down. So what did you do . Bought more health care. I stayed with the health care and tech will continue to work. I think mna will be the best drop there. A lot of names will continue to bounce. For bk, he spent most of the day smiling. I was shocked by that upgrade. I was long, i thought the border adjustment tax would be dead. I think dead. This is icing on the cake. I think you can buy what looks like a breakout here. Theyve had a couple two good days in a row, basically about a percent da today. This call joe made in walmart. He is absolutely right. He can outperform target in a meaningful way. I think that long, walmart short, target still works. Coming up, a big moment for the big banks. Will they live up to all the hype . The traders will weigh in. Plus, trump and chinese president xi is winding up. The chip martz are on fire t. Chart masters are seeing something in the charts. That could mean the end of fx 1. We will them you what that means when fast money returns. [vo] quickbooks introduces jeanette and her new mobile wedding business. At first, getting paid was tough. Until she got quickbooks. Now she sends invoices, sees when theyve been viewed andtadahpaid twice as fast for free. Visit quickbooksdotcom. Stay with me, mr. Parker. When a critical patient is far from the hospital, the hospital must come to the patient. Stay with me, mr. Parker. The at t network is helping First Responders connect with medical teams in near real time. Stay with me, mr. Parker. Saving time when it matters most. Stay with me, mrs. Parker. Thats the power of and. But weve got the get tdigital tools to help. Now with xfinitys my account, you can figure things out easily, so you wont even have to call us. Change your wifi password to something you can actually remember, instantly. Add that premium channel, and watch the show everyones talking about, tonight. And the bill you need to pay . Do it in seconds. Because we should fit into your life, not the other way around. Go to xfinity. Com myaccount welcome back to fast money. President trump wrapping up day two of his summit with chinese president xi at mara lmara lago reporter hi, the white house presented a secretary briefing with tillerson and ross to discuss exactly what went on inside the closeddoor meetings of the wideranging delegations from both the u. S. And china t. Most urgent pieces of news i want to give you are secretary mnuchen said there could be increased sanctions on syria coming down the pipe in the near term and also a report from the treasury in the near future would address the currency issue that they had been discussing about china. But from a Bigger Picture standpoint, heres what happened at the chinau. S. Summit in palm beach this week. Secretary tillerson said the two countries established a new framework, a new format for Holding Discussions between the two nation, theyre broken down in four parts, diplomacy, economy and cybersecurity and culture and social issues, that i hope they can compartmentalize the issues they had in the past. Specifically on north korea, which was the top agenda item facing each of these countries going into this meeting this week, the official said they discussed increased sanctions on north korea at a president ial level but no package deal for dealing with north korea was discussed. Even so, the two countries are both committed to a denuclearized korean peninsula. Then on the economy, they said there are economic seductions under way. There is a growing rapport between the two countries and commerce secretary wilbur ross says they have established a 100 day time frame for both countries rediscussing trade. He did say they would have weigh stations at which they would try to grade the progress of the two countries in fixing some of the trade issues between them. Namely, they discussed the challenges of chinas market intervention and the fact that sit not a market economy and the effect that its agricultural and Cyber Security sectors are having on specifically u. S. Jobs. They say china is committed to making trade more balanced and that is something that they will hopefully see in this 100day period. Now, interestingly, this comes at a time when congress had left for recess. The president will return to washington where he is the sole operator. When he returns after the end of the weekend. But there are reports that there is some unsetsleing personnel activity that could be afoot in the west wing. This morning they reported the president could be interested in replacing his chief of staff reince priebus. This afternoon the wall street journal i should say, rather, reported there could be a shakeup for the role of priebus also steve bannon the chief strategist saw himself removed from the Principles Committee of the National Security counsel. The white house tried to push back that any reporting to that extent was taking the momentum the administration had this week. That being said, we will see if the president chooses to make any of those changes with congress and with legislation actually out of the way next week. Melissa. Got it. Kayla thank you so much in palm beach. Was the meeting a december . The airstrikes on syria being viewed and the confirmation of the Supreme Court nominee, is it safe to say the trump agenda is back on track . Grasso, what do you think . I think its tough to say its back on track. I think it went a long way in making ma bipartisan effort, you have pelosi, schumer, ryan, trump, all these people agreeing on something for the first time. I do believe it was so contrived to have these missiles launched into syria while the president of china is there, to send him the message on north korea. Like the whole thing. A whole planned thing . Yes. Just to forego yes, i think it was his way of sitting there with president xi saying, look, we can do this. We can go it along, all those News Headlines blurping up before it even started. I think it was such a contrived message. Yes, im a conspiracy guy. I think guy shares that with me. I dont think nothing happens for no reasons. I think it is actually in terms of like launching michigans, reset the agenda. Even if that is the case the agenda is sort of reset, he sort of galvanized the parties a bill, got them behind a single issue. You have gary coen on bloomberg talking about a tax plan they are working on as a top priority. He doesnt know about august but this year. The story, he did that speech, the state of the union speech, everyone thought it was great the next day it all blew apart. I dont have any confidence the trump agenda is back on track whatsoever. The story they may shuffle things around. Maybe thats good. Maybe its bad. It certainly shows me, there is no chaos there. No continuity there. So how can you have any faith they will get things done . We need points on the board, back on track is crazy to say. We were never on track per se when it comes down to getting things accomplished. I say we talked about things the time line being pushed out. Its being pushed out. You can see, the market does what do you want . Its not going higher. Its under its own gridlock. It doesnt matter zpli want tax reform. They need tax reform. When you hear the comment out of yesterday we we heard comments right from the guests on the show that basically said, there is going to have to be a balancing act here. The president agree, we cant change balances. Coming up, the year of earning, one of our traders sees trouble ahead. He will explain. Im melissa lee. You are watching fast money, first in Business World wide. In the meantime, hes whats coming up on fast. Tesla shares had their first test in your years. If you think the run is done, there is one more piece of bullish news you need to hear. Well explain. Plus, amazon shares are closing in on 1,000. Good lord it sure is. But if you stick around, well tell you how you can buy 100 shares for 20 bucks when fasfa money returns. Rise and fall. Predictable is one thing you need in retirement to help protect what youve earned and ensure it lasts. Introducing brighthouse financial. A new company established by metlife to specialize in annuities life insurance. Talk to your advisor about a brighter financial future. Hes a nascar champion whos shes a worldclass swimmer whos stared down the best in her sport. But for both of them, the most challenging opponent was. Pe blood clots in my lung. 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Get help right away for unexpected bleeding, unusual bruising, or tingling. If youve had spinal anesthesia, watch for back pain or any nerve or musclerelated signs or symptoms. Do not take xarelto® if you have an artificial heart valve or abnormal bleeding. Tell your doctor before all planned medical or dental procedures and before starting xarelto® about any conditions, such as kidney, liver, or bleeding problems. Youve got to learn all you can. To help protect yourself from dvt and pe blood clots. Talk to your doctor about xarelto®. Theres more to know. Welcome back to fast money. It was a wild week for tesla shares soaring 8 after the electric car maker sold 25 vehicles globally. They surpassed expectations for the quarter, cnbc contributor was on walk on the treat today with his take on tesla. I have to say tesla may be the ultimate storied stock of all time. It didnt just have one story, it has multiple stories going, every time people start to get a little fatigued the one of them, oh, its an electric car. Oh, its environment ally friendly. He leaps to the next stories. These valuations stay in the stratosphere for many, many years. If the tore is good enough. And i think the tesla story is really good. Wow. So with this in mind, are we buying tesla right now . Well, yes. The shortened. Im long. The short answer is yes. Theyve done everything necessary in order for the stock price to continue to go higher. Just you want one little proof positive, look at the way theyve priced that secondary. Look at the way the stocks traded afterwards. Again, my argument has always been, the people that own the stocks, the institutions that hold the stock are not setting it here. They will sell it at 80 if it gets that low, i dont see it happening. They will take profits well north of it. They are not getting out of it. Meaning the stock levitates higher. Yeah, you buy the stock because it is a storied stock. Its great to see him get on board here. Because this has been the game the whole time. You cant get a valuation. Have you as to buy into the story. It takes faith. It can be rocky. Its working out. Shifting to the fairway. Final stradz, with the masters under way in augusta, theyre picking foreign names that can each be a hole in one for your portfolio. When you look at volatility in the trump administration. I expect a whole hell more of it. Gdx seems to react well inside the administration. Skechers for me, i really think this is the name you want to toen own. Its a cash flow story. Lit work out. I buy it here. I think its coming up. I think hes got right there. Yeah. Do they make those for men . Ha ha. So you know when youre on a golf course, you hit one, you know you just connected on it, there is a long fairway ahead of you. Walmart the one to buy. Whole foods breaking out. Thats it for fast. Options action starts right after this break. And markets continue to rise and fall. Predictable is one thing you need in retirement to help protect what youve earned and ensure it lasts. Introducing brighthouse financial. A new company established by metlife to specialize in annuities life insurance. Talk to your advisor about a brighter financial future. Were on the move. Hey rick, all good . Oh yeah, were good. Were good. Terminix. Defenders of home. So we know how to cover almost alanything. Ything, even a coupe soup. [woman] so beautiful. [man] beautiful just like you. [woman] oh, why thank you. [burke] and we covered it, november sixth, twothousandnine. Talk to farmers. We know a thing or two because weve seen a thing or two. We are farmers. Bumpadum, bumbumbumbum for the first time the game is getting back towing. While the guys are getting ready, heres whats coming up on the show. Its a guy, its a bird, its a plane. No, its just shares of amazon, if you messed the move, relax. We have a way to buy it for just 20 bucks, plus, talk about a bank job this is a robbery. After a run, financials have under performed in the market this year. We have more pain next week. Well tell you how to pr