We just saw the chunz delegation depart the office of the u. S. Trade representative en masse every the hours of negotiations the president moments aigt saying it went well. He confirmed he will meet with the chinese top negotiator tomorrow he also answered a question about a possible investigation that he requested china do last week to look into the family of joe biden and possible corruption according to the president that he believes went on there he said its up to china to look into whatever it wants to. But this is an interesting comment given a wrinkle today. Where an outside adviser to the president Michael Pillsbury at the Hudson Institute made comments to the Financial Times saying he raised the issue of the biden was china. Later he acknowledged he discussed the bidens with china well back to fast money. A scene in shanghai china but it was china that brought it up and not a discussion at the earlier today as the brooklyn behest of the president. Thats a cloud hanging over any nets took on the lakers. Progress in the talks and tipping off amidst growing whether there is any relation between these two issues backlash in china. Here is what the chamber of after the Houston Rockets commerce expects to happen tomorrow, to give you a little general manager sent a tweet in support of protesters. Little detail about the contours chinese opposition to league is of a deal. Mounding myron is the president at the the chinese daily newspaperle chamber and meet with the vice titles this wrong move premier said he said expect not a grand slam and this nba log op. More on the backlash from the but a lot of work to do. He expects the october 15th nba yaults, joining us now is Jamal Mashburn tariffs to be paused or not jamal great to have you here at fast money. Welcome. Thanks for having me. Escalate whats your take on all this. He said possibly a currency deal well, when i played in the this week thats been under way for months and huawei licenses nba i played under david stern have been a centerpiece around and new adam silver when took trade. Thats straight for someone meeting with the top negotiator over knew adam since he was nba in the last 24 hours as the president says things entertainment. They are a pickle. One thing about the nba they are have gone well usually at the forefront much of course mella were trying to social issues but i dont think they were anticipating this one. Prognosticate what we could see this caught them out of left field a bit. And thats a little bit of a lot of money involved. Detail to help. You mentioned the tariff there is a lot of politics involved but i think adam silver is the escalation on the 15th of best person to handle it october. You how about the december 15th and i think the players are a little bit of a quandary too tranche. Thats the holy grail for the because some have marking deals Consumer Companies that would be swept up in that right before with some of the chinese shoe companies. The holiday. Its interesting in how this unclear how exactly the shakes out not just from the nba standpoint president feels about that thats seen as one of the but from a political landscape. Biggest pieces of leverage the right the most recent sort of white house has in this political controversy in the situation. But it also could be the biggest world of sports was the kneeling selfinflicted wound controversy. That was really something thats the worry of the generated and kept up by the principles here we dont know players. So its sort of a different whether thats on the table. Circumstance to have the gm of kayla wsh thank you the rockets start this whole Kayla Tausche in washington with thing. Do you think the players these the latest on the trade days you mentioned the negotiations again trump saying marketing relationships. We had a good negotiation. There is obviously life after guy adami how do you think we the nba that all players these days think about enter the session tomorrow. Positive clearly. Are they savvy enough now to apple tells you about a deal getting done know there are huge and caterpillar was up today as ramifications for tweeting on political issues i think you have seen a lot well both stocks indicate something of players not engage in the is done. Conversation as of late. People on twitter have been they understand the economics of saying and youve been saying it, understand the business of it and dont want to hurt their the last 16 month president chinese have the resolve brand thp. Thats the point theyre being careful about what its been 16 months and there is they say and how they how no deal. Position themselves. President trump can speak about listen, they really understand we had a great conversation. There is a huge market in mcto a lot can happen for basketball fans at the end they could absolutely walk away of the day you have to go through china. They dont get the deal they india is emerging market and want ip is a huge thing africa as well but players are much more savvy. I have no idea the market says all systems are you i think you see guys more go for a trade deal. But into earnings next week and silent until they really understand the issue and get a you wonder and the point i tried to make last night is you wonder little bit of a direction from if were not really focused on adam silver way way to proceed. The right things some said the nba is maybe things are slowing down. Maybe the you know the differently from a publicly traded company like starbucks euphoria around a deal has gotten us to alltime highs. And the nba doesnt necessarily you get a deal then what, then have to grow, doesnt have to go you rely on earnings quite into china it can foregoe the 10 of frankly i dont think theyre revenue it gets in china there. In terms of the outline of a whats your view do you think as a former player, skinny zeal with kayla alltimed do you think we need to go to process the myren brill on the new fan base, new and woman. Growing fan base to stay would the trade deal trump the relevant. I think in order to you still have to grow your customer negativity of the Third Quarter . Base at the end of the day the nba in does the uncertainty go away my opinion and ive had stoo. No, because i dont know the kind of skinny deal or any type higher ups they are a Marketing Company essentially and just of deescalation is going to be a happen to be in the brand of shortterm positive for the basketball so they have to grow their market we saw over the last 24 hours particular fan base and how the market traded. Viewership and streaming and down big in the middle of the night rallied back when things access to content. And live basketball or recorded basketball is some of the best went better you have to think deescalation content there today in game is good. But it comes to does it give advertising there is benefits on ceos confidence to go out and both sides i think the nba is in the a spend money . Do they need to spend money . Tough situation. It will be interesting does it lift the uncertainty i dont want to be in adam about what the world looks like . Silvers position right now. You know, he is going to earn what europe looks like, brexit his money on this. I dont think it does that he is the right guy to do it so to me any rally is simply a jamal but is there a player or group of players sugar high relief rally and then its a prove it to me type of this is very complicated as you said that the rest of the league market. I totally agree takes the cue from i dont know how you can feel good about earnings. If lrn or steph curry makes a i think that earnings that statement will the rest of the Company Report will be okay, league line up with those guys right . If people are employed i think well, just like Interest Rates low any team sport you look at the dwood for industries best player. Sometimes the best player is not we saw dsh well get to it the smartest person in the room. Later. Delta great quarter, guidance but i think lebron james is one of the smartest in the leg not as good. You cross over from nfl to major thats the story i think we see that over and other. Start with the next woke with league baseball. Another guy in the froer front the banks. But guy has been right all along is chris paul. The head of the nba players skeptical of a deal. Association. He has done great work helping i feel like this this rally is out retired players, current one to be faded because so many times. This rally, the one we have players. And also initiating some younger players into the league. Now. Right now. So i think knows guys we have to 50 of record highs could it be more going if walk hand in step with adam they announce something good silver to really craft a message. It could but could quickly fall because at the end of the day i think its bigger than the nba apart. I feel lake every time we do at the end of the day. It happens to be the pawn in all something that seems rash, raise this and theyre over there tariffs then they retaliated and pitching and peddling their product. Seems like the administration jamal let me ask you a tough islike, wow mike tyson everybody has a plan until they question if you were nike having taken political stances in the get punched in the face. Every retaliation is a punch in the face past what would you do . We didnt know that was coming i would probably be the i dont love the positioned how retired chairman of the board at we are going in market this high this point and the chance of something ed ride off into the sunset. Its an interesting conversation comprehensive low. Because obviously manufacturing the shoes over there, selling small deal. Im not sure this is the best their brand, i was a part of the lens to evaluate the trade discussions. We know the s p outperformed select team that initiated the firps dream team to almost every major you know International Basketball so i do understand the market index, equity index did the last couple years. Its a source of funds magnification of professional same reason the dollar might be sports, especially the nba thats a tough one up and same reason why treasurys i would be more concerned about the brands pull out right now acted well in the u. S. A safety trade aetna, the shoe company, their also obviously the sectors in license, the ten cent, the the s p that are driving the content provider there last leg i would be more focused on them staples, utilities we sound lake a broken record and how do you severe those here not its not giving me a lot relationships . Or bring the replaces closer to of confidence saying thats the thing thats breaking this you within the framework you market out of in almost twoyear both can work in. Range here and i think you got to go back the headlines of the day, and look at the underperformance jamal hijacked the interview to talking about the nba but youre of small caps, the iwm tracking a business guy you have car dealerships, the russell 2000 did not act particularly well. I think the transports interests in franchising transported act poorly and lately in cannabis there is a lot of stuff under how did you get to that . The surface. The stalling in megacap tech are you using cannabis in any which is growth. Form what got you interested. To me amazon guy mentioned i hope this comes off earlier in the day when we correct. Chatted, red on the day, the this is my new espn with owe is watching you guys. Stock is 15 from alltie highs i have done a lot of research in the cannabis sector. Has not confirmed a new high in the s p all year and looked at it from the but there are a lot of things standpoint of medical appear not acting well. Also recreational and where i think i make this point every states go. I live in florida. Night if you bought every new high in the s p since january they have it passed medically 2018, you just didnt get a mash down the road recreational whole heck of a lot for it you got a big draw down over the will be done next two months. I see it as an emerging business i dont like the fact that in thats figuring out how to help april we had a sell off after a minorities participate new high in earnings people of collar and also women same in july what are we doing now . In the industry. Skilled labor owning licenses or heading to a new high into q 3 earnings season. Cultivation facilities and to me i dont think this is what revolution global, i chose them you want to buy to get a lot of because they are the best torque to the up zblood im glad operators. Great friend of mine sit dan mentioned the wichlt o iwm chairman of the border tony because its important if you go back to may of this hunter and rk mark desouza a year 14r5 where it bottomed out they back from there, 145 has been a critical level we tested it last couple of days closed up i think 0. Had o 4 theyre. Operating company. Im looking at the today its higher in the after fundamentals of business rather than being a endorse are tp i hoursis based on what we heard could care less about the from department but if you want product. I like where cannabis is going to trade the Broader Market geps something and i said this a how it helps people with while. Medically. I think 145 in the russell, the i experienced it with my mom iwm is the line in the sand. If she had access to cannabis everybody here sounds cautious about any real that maybe her treatment would be different. Ive seen players when i play could be reached what was interesting was the not legal at the time use move in treasurys. Cannabis for not recre 1. 5 decline in tlt. Antiinflammatory. A big rise in the 10year yield i think there are medical benefits for it. And also its a business that n and didnt seem commensurate some sort of way. With the half percent rise sure. Capital struggling to get into it because its not on the across the board. And bonds havent been federal level. There is opportunity there trading in lock stop with the and revolution they have markets for a while which allowed me to sit on the board concerns me. We need an awful lot of demand to help out with retail since i for bonds. Have great knowledge of that if you are starting to see kind of a sell off in fl you dont with my Papa John Stores we have want bond yields to rise for the over 100 stores in ten states. Wrong reason if we have strong growth and the along with the car business. They allow me to play on the 10year yield reflects gdp over operations side, which i love to the next couple years if we have live at. I think thats the more Sustainable Business model if strong growth great, have rising you do it correctly. How is the u. S. Consumer yields but if we have rising who yields doing as you read across without a lot of demand. If you have a deal, a lot of businesses like pizza and cars, money is flown into the u. S. As et cetera. Doing well. We had a struggle with papa dan said because a safe haven, right . Johns there a bit you could have money flow to its trending up europe if we get a better deal comps trending up. Car business doing well. You might see money pull out of the bond market, the u. S. Equity we see tello sell a lot of trucks in the detroit and kentucky market and flow to european if we got a deal most expect. Market were in the middle of the can we walk through that a america with a better read of little bit because a deal with china would the economy. Mean greater economic greeting if people are not services cars for europe they are staying home. The upside for europe is great close the checkbook and staying are than here. Because mcis their biggest on the sideline. If people buy more pizza to feed export mechanic. A family of four that means europe is doing better china does better. People are not employing out as you might see that flow back to much i read it from that level. There. Would you buy europe if there and thats why i watch you guys is a china deal. To kind of compare of what i im always long you know know and i dont know. Around the world and kind of do my refrp research but and so far some of europe that way to me things are doing well has been okay but other parts not as well. Always can be improving. Germany actually, the index, the im a competitor we can be more d. Efficient. You invest in stocks. An x had a decent year i have but i tend to bet on reflects optimism that things myself. Bottomed. Our next guest says forget okay good investment. Yes indeed. Jamal pleasure speaking with trade. There is Something Big are to be you thank you for coming buy. Focused on Morgan Stanley chief u. S. Equity Jamal Mashburn. Love him. Strategist mike wilson what else good to see. When i watch when the nba you thank you. Bigger than trade. You guys are talking about could watch. He was the player of the year in it added fundamental story here going on all year which is the s. E. C. In 93 played in the Business Cycle rolling over. League average 20 points a game and if i talked to a lot of for the career,ish. We can goish. Clients, i would say that eight people blame trade for right there 19. 1. 8 oh of the slowdown and think i round up the Business Cycle on its own even better he is a bright, merit 20 of the slowdown. Im the other way. Smart, engaged thoughtful person thats wonderful to see. Our call has been that the so good for jamal, man and the Business Cycle is 80 of the fact that he watches in show reason why things slow and trade come on. Makes him even better. Is a cherry on top reduced 100 . Confidence in taking edge for you know its funny i thought the commentary about the what germany its worse obviously the nba is doing how they should than other parts of the world. But its not the main driver proceed is important for me this is a sell the news it was a sober manner. The nba checked themselves event era event. There was a lot of ways they its interesting to hear you could have done a lot of damage talk, some more cautiously that for players, franchise that they should make you are maybe more didnt do but also other the bullish. But i think thats right brands tied in were in a bear market him talking about it as a chomping around now for 18 Marketing Organization is months and a rolling bear important. Base think about the companies in the u. S. That dont have Market Access to china whether facebook but some areas hit hard but not or whatever. Devastating. This is the next leg of growth in a bear market be bearish. For so many u. S. Multinationals we do have to be careful about centsment can stay negative until we a see trough in the it and could go niz abt of the