ahead of a busy week. and we also get retail sales, we mentioned it earlier, cpi tomorrow, ppi on wednesday. you have potential government funding issues and apec. >> the biggest representative of the magnificent seven with news, microsoft. >> that does it for us here at "overtime." >> "fast money" starts now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. it's been two very different t tales of the tape for retailers. will this week's earnings reports exacerbate that trend? we're counting down to the latest read on the consumer. plus, a weight loss wonder. new data on wegovy showing strong results against heart dez, too, but is this and other drugs like it really the cure-all for the industry? and a big bet on evs. one of the nation's biggest

pension funds scooping up shares of tesla and rivian. we start off with the kickoff to retail earnings season. home depot out tomorrow morning. target, tjx, walmart, macy's, and gap following close behind. they're not the only reads we get on the consumer this week. cpi and retail sales on deck. but a new report suggests the consumer may not be as strong as previously thought. the just launched real-time retail monitor distributed by cnbc in conjunction with the national retail federation and affinity solutions shows spending x autos and gas dropping nearly .1% in october and has been decelerating for months. so, from wall street to main street, what should we expect this week to show us here, guy? >> what we've seen all along, i think. certain places, walmart's going to continue to do well, i think target will struggle. the wild card will be home depot

tomorrow. you go back to the last quarter. inventories, they got themselves back in line. they were down 10.5%, 11% year over year, which suggested margins should be good, and this 280 level-ish has been the lower end of a range we've been in for quite some time. i think you play it for the long side. i'll get fast fired if i'm wrong. but the walmart, target bifurcation will continue to grow. >> the ft ran a poll over the weekend, with the michigan ross or something like that, talking about the biden administration's approval on bidenomics, basically, and people think they are not better off four years on, but something i took away from this. in response to inflationary pressures, 65% of voters said they had cut back on nonessential spending such as holidays or eating out while 52% said they had reduced spending on food or other -- everyday necessities. when you think about that stat and you think about that sort of response, now, granted, it is

through a political lens, you say to yourself that inflation is still on, like, you know, on consumers minds right now. i think we're going to continue to see that. i do agree that home depot is going to be very important, especially with interest rates where they are and what the housing market is doing. i don't think it's going to be a great read on what consumers are doing in the near term. >> the growth in prices is slowing down, but prices are still going on. consumers still feel the pinch. >> yeah, i think they are. it is interesting to me, there seems to be some perception that the fed's had nothing to do with the fall in cpi prices, that this is just about the end of covid and supply dynamics and things, and if that's the case, you can't tell me that 500 basis points of hikes aren't going to have an impact. and i think that's where people think the fed may be overdoing it. i'll leave myself out of that debate, but i think that cpi, from a market drivers perspective, i think has less ammunition. i just think, you know, we're at this place where looking at cpi

numbers, we could have a hot cpi number and the risk might be to the negative upside. but back to the consumer, back to walmart and home depot, i think home depot deserves a premium over lowe's. at some point, i think the top down for the home improvement sector is very much intact, but i do think, and we're going to see comps out of home depot that are going to be down. they're going to be down 3.5%. so, i think cpi, as much as we're focused on it, it's a lot more important what we're hearing about their holiday season. >> home depot may be the choice over lowe's, but maybe other is a choice if it's lhome depot, lowe's, or something else. >> yeah, i mean, i guess, you know, part of it is, i look at -- it's interesting, the home builders are doing well, that's a little different dynamic, because you don't have the existing homes for sale, but there's a lot of mediocrity

priced into home depot's numbers, right? the stock's come down a long way. it trades at a market multiple, i don't think is a market multiple kind of stock. this is a premium multiple kind of stock. but long home depot, long lowe's. i -- i don't know. i guess -- in the short-term, who knows? i really want to hear what their outlook is. i don't know this quarter matters so much. i think i've seen revenue declines over the last couple of years for this quarter, flattish, let's say, but i really want to hear -- we've heard some commentary from companies about, we were a little cautious as the quarter began, but we're starting to see things are shaping up nicely, so, that's what i really want to hear and so listening to the call is going to be important. >> interesting, too, to see the difference between the pro segment and just the regular retail segment, because we can get very different messages from that. >> yeah, pro's been great for home depot. let's be clear. that's part of that multiple, and part of where they were able to extend. there's also dynamics with commodity deflation that should

be helping these guys, as well. it gets back to, again, retail sales, if you are selling stuff, higher ticket sizes and basket sizes is actually good for your stock. i like inflation, but i think in this case, it might help them. >> this is -- i don't know if you guys notice this, but black friday turned into, like, the month of november -- >> it started on halloween. >> it's super promotional, so, like, that is going to be -- that's going to weigh on margins. let's be really clear about that. >> kind of takes the pressure off, though, doesn't it? thanksgiving, you start to digest and -- i don't have to get out there anymore. guy will be waiting outside of a walmart somewhere -- >> black friday deals. >> the fact that, you know, you can kind of ease into the holiday shopping. i might be ahead of the game. >> you're the guy who buys the day before. >> i enjoy the sport of shopping as much as i can on christmas eve. >> good time. >> i think -- real quick, the

pro in home depot, that's tim seymour. he goes batteries and come out with a chain saw. tjx on the 15th, i think, because that stock's making an all-time high. 20 times, not ridiculous multiple at all. the stock is impervious to seemingly everything. dollar tree and dollar gen, as well if you start getting pickups in a tjx, that might tell a really interesting story two days from now. >> you think we get a hiccup? >> i think the dollar stores, because of the price point, it's a very tricky endeavor. i think that tjx is sort of its own animal. i had a little bit higher multiple, but it's not crazy. they've done a great job. does appear richer than ross stores and burlington. one last thing. wouldn't it be funny in inflation were transitory after all? >> listen, cpi tomorrow morning, 3.3%, that's still up year over year, off of a much higher base that's just been accumulating, you know what i mean? if you think about what we heard

from the digital ad companies over the last month or so before, like, i think the market took a turn after that november -- >> facebook positive. >> and disney the other day. there's a lot of trepidation about advertising. when you think about how cyclical that is, as a leading indicator to possibly consumer softness -- >> i thought it was decent. >> a lot of the commentary is related to what was going on in the middle east. >> not to the ad market. >> i think that's the mulligan they use. i don't think, you know, we didn't -- remember that day two months ago, a month and a half ago, snap rallied because they were talking about something, and on the conference call, the stock was up 15% and gave it all back because they had cautionary comments? so, it was meta, it was google, snap had all these things to say. look at twitter's ad revenue down dramatically. >> i think -- i could argue, i know you've been arguing, but that consumer was very different three months ago than they are now. this stuff is catching up to them. variability on auto, variability

on credit cards and all kinds of revolving debt. it's catching up. we know the consumer came out of covid very flush. we also know that there really is a dynamic here where i actually think not only the lag effect of where the fed is, but i think you've got a lot of pent up demand that got satisfied. and i think at some point, the unemployment rate is going above 5% and i they's really the story. the companies haven't had to down -- push down expectations because the numbers have been really strong, but i think we are in a different place. >> we get to -- i agree with you on the five. it's going to happen faster than people think. i think a lot of people believe there will be some linear thing, 3.6, 3.8 -- no, it's going to be 3.9, 4.4, like whoa. and one day you're going to wake up, it's going to be pushing 5%. and i don't think that's particularly good for the stock market. when does that happen? i think it's happening right before our eyes. all right, meantime, more pain for macy's.

dropping 14% since last week. the chart master thinks it may be time to take it back to the store. carter worth joining us now with more on that, and broader retail. carter, what -- you are saying simply sell macy's? >> yeah, what a mess. i guess -- we have a very bifurcated consumer. things like urban outfitter up 3 43%, aber come bree and fitch u, target down 28%, so, a real winner/loser market. but let's look at three eye depa identical charts. so, this is -- these are weekly bar charts. we are hovering right at the lows of the past three months, so, mid-september, mid-october, here we are. mid-november. right at the $10.75, and i think we break. the second way to draw the lines, you can call it what you want to call it, but it has all

the elements of an important reversal from obviously a year ago, with perspective further downside. final way to draw the lines, we've broken down out of these converging trend lines. the covid low is down at $4.43, that's a long way from here. obviously at $10.74, but there are many stocks in retail that have already taken out their covid lows and there's no reason we can't get a whole lot closer to them, in the case of macy's. >> which other stocks, before we move onto walmart, target, which other stocks have taken out covid lows in retail? >> let's see, obviously dollar general, foot locker, macy's is close, but not there yet, i don't know if target has, but it's real close, so, certainly beyond retailing, there's a lot of other stocks that have taken out their covid lows. >> let's get to target and walmart then. >> these are bigger, obviously, more important animals and let's go right to the charts. so, it really depends on where

you start your narrative. in terms of the all data, walmart is a 6-x over target. but look over the past 25 years, actually. it's -- they are even money with target slightly ahead. target is the high flyer, and this massive give-back simply brings it back in line with wall smart. another way to do this, of course, is to look at a ratio chart. first, though, now look at, here is the current spread. and this is a two-year chart, and that's what catches the fancy, you think, wow, maybe there should be some mean reverse shun, one up 14, the other down 60. the purest way to do this is to look at one line, a ratio, and that's what this is. what you see on the screen is targetwalmart. and what that is saying, target is not the -- walmart's not the steady one, target is the high flyer, it's boom/bust. the current bust only takes it back to maybe where it was eight, ten, 12, 20 years ago.

it's still in line with walmart. but finally, let's look at the two charts themselves, and this gets the issue. walmart, there's another three, four bucks to go and it will be up against that trend line. i think there's limited upside. i think the stock is loved, and for those who aren't a fundam fundamentals -- >> i heard it. >> it's all at the highest it's ever been. and then covid lows for target, $90.17, there's no reason we can't go visit them. >> okay, so, that was my question, carter, are we at a place where target still hasn't really given up the ghost? and that spread, which i do follow that ratio, and i think we have an extreme and chasm is the word guy has been using -- >> with a c. >> you think we're going to covid lows, and why not? the headwinds they are facing now are very different than covid and might be more long-lasting. >> right. and then it depends on who you are in the market, right? a short-term player would play

for the break. i think you get to those covid lows. and the long-term player says, we know target is the boom/bust one, but if i can sweat it out, i think i can make money in mean reversion in the spread. so, both those approaches are valid, just knowing who you are and what your time frame is. >> when you say for walmart, for those who own that one, that it has just another $3, $4 upside and it sort of tops out, what sort of top is that? is that going to be the end of its run for now, or -- how long does that top stay in place? >> you are kind to say that tops out, because that's a judgment, we don't know that it will, but my thinking is, it can eek out some gains from here, it just feels awfully perfect. awfully loved, awfully unquestioned. >> all right, carter, thank you. carter braxton worth of worth charting. we prompted carter to look at that spread since, that is the premise of the trade that tim and karen both have, in terms of being in target.

karen, what are you thinking here? >> just in terms of that spread? >> yeah. >> i mean, we talked a lot about how walmart's business is different, where the grocery business -- they're really good at that, not a huge margin business, and for target, they have that business, it's smaller, but it's taking away -- the consumer changes are making lower margin because they're not buying as many as the sort of home goods and lifestyle and apparent and things like that. i've been wrong for awhile thinking, all right, this is about as low as target's going to go, but this divergence between the multiple of the two, i do think, is really, really stretched, and so that is a pairs trade i think is really interesting. >> and i'm not in that spread right now, i'm actually still long some walmart -- a lot less walmart and started to initiate a position in target. carter said it. isn't walmart priced to perfection? you are expecting 4% to 5%, the street is tweaking up those

comps on u.s. comps, and i think that's something to be worried about it. on a trailing, it's 32 times. >> let me just add one thing, if i could. if you look at target, if you look at kroger as just as a supermarket business and think about that multiple, under ten, what does that mean for the rest of walmart's business if they should have a similar supermarket multiple for that part of their business? that makes it really high. >> yeah. high. >> you know, that covid low in target, which is -- what did he say, 90 bucks-ish? yeah, it's bounced recently, but 107 and change today, the 52-week low is basically 103, it does not trade well in the face of a broader market that is not okay. i think you have to be concerned in earnings if target is going to have another one it is where an inventory glut, they missed the boat. they have not acquitted themselves particularly well over the last two years. >> you believe that unemployment is going to go to 5%. >> i am. >> which is why i lay that out. can you be a fan of target here, or is walmart really the answer for you?

>> if you are -- you look at me, i'll say walmart is the answer. i think under that circumstance, target goes lower. >> no matter what the premium valuation is? >> i believe so. >> dan? >> there's just so few valuations that trade at 25 -- this sort of premium to its peers and to the market right now. this is -- this is walmart, this is a mid-single digits grower and if target's had all of these problems and still expected to grow at a higher pace, you will see money come out of walmart into target. it just makes sense. unless there's something that is so imperative about their business, but to carter's point on the technicals, he showed us that resistance, that one-year line where it's almost up to, if you look at the support line and it's pretty steep off of this year's lows, you get back down 10% pretty easily, that's a couple turns on that multiple, and then you have people probably coming back into it, but it can do that for not anything. no disaster, you know what i mean? it could just be, this one is such an outlier relative to so many others. >> and there's almost two timelines for the trade, right? for the long-term player, that spread trade, i think that

long-term spread looks really interesting. it doesn't mean it can't draft lower. coming up, the semi courage continues. nvidia climbing back towards its all-time high. can anything stop this seemingly unstoppable stock? plus, a big bump for boeing. the planemaker innings a major aircraft deal. the buyer, and how much they're paying, ahead. don't go anywhere. "fast money" is back in two.

welcome back to "fast money." >> got to address that, i mean -- >> what? "sweet home alabama?" >> thank you. >> we were pranking. >> i don't know if anybody heard it at home. >> they did. i could hear it -- >> that's what was going on. >> that's what we do. >> talking chips here. nvidia eeking out a gain. they unveiled a new high end processing model. the stock has risen 20% this month alone. it comes ahead of president biden's meeting with china's president xi jinping for the first time in a year. dan, where are you on nvidia? >> i'm on the sidelines, because when you have a stock that moves

20% in a straight line, which is what it has done, it has more than -- it's tripled the performance of the s&p 500, put some math around that. that's more than $200 billion in market cap in a straight line. so, the h-100 chip that is in really high demand is now the h-200, people, and it's going to use high bandwitt memory. this is all stuff you would expect out of a chip like this, training these models and doing this sort of stuff. so, my point is, when this sort of headline comes out of that move, i don't think it's the thing you want to buy, you know they report next week and you better get this one right, because the gains they're having, after they're putting up their numbers and that sort of thing, are kind of getting smaller to the upside. the magnitude of the beats are getting smaller, that sort of thing. and that's going to be factored in in a stock that trades at a very high premium. and to me, is all of the enthusiasm that is encapsulated about a.i., is in this stock right here, you now, and so, i don't know, i think it's a dangerous name here. >> for quarters we've been saying that their earnings, the

next earnings report is going to be key, but the next earnings report november 21st seems like it will be a key earnings report, because we will look to them for some sort of guidance for next year, so, do these trends continue, where are -- where is the h-200 chip in relationship to intel and amd. they have stronger chips that are going to be released later on this year. so, how does it stack up this year? >> it's looking like it's similar to last quarter. obviously, there were huge expectations, and we expected a giant beat over what they said, which was a giant beat alone. we expect that again this time, so -- normally, i like to think more about the fundamentals, but this is a game here, right? can they continue to put up enough bigger beats to satisfy this stock? i'm sort of thinking it might be a sell the news -- >> what are you doing? >> sold some upside calls too soon. but i -- that's what happened last time. i think guy knows the numbers in his head exactly what happened, but i think that may happen

again this time, however, i think the lead that they have is still in place for awhile and i think we'll get some sense of how big this a.i. market is, i mean, i'm interested to hear what their backlog is, how much couldn't they full nil in orders, so, i think there's legs to the story, but in the short-term, i'm looking to sell right before or around earnings. >> i'm not sure even -- how big the a.i. market has already been proven, no one really cares or seems to even -- it's big, and it's getting bigger. i think the importance here, and -- they announced pricing on this chip yet? >> i don't think so. >> so, what's key is that the product cadence, as they said it would, is increasing. the key is also, i think an lichss are trying to extrapolate if this is 40% to 90% more powerful, the a-100 to ultimately where you got with that next chip, the h-100, where are we going to be on 200? that's what's going on here.

the fact that the stock is within a whisper of at least a closing, maybe not the intraday gap in july, but or, yeah, back over the summer, it's extraordinary. and i get back to the semiconductors as a group, which have made a relative high, and it's once again nvidia that's doing it, so, you got to get it right and if you don't get it right, i think the group's in some trouble. and someone that's been saying, the leadership coming from semis and the nasdaq 100 is something that, until it stops you kind of go with it. the nasdaq 100 is at a triple top on a relative basis against the s&p going february '21, 12/21, december of '21, and i think it is something that's worth watching. >> if you fell asleep at the end of august, nvidia was $485. it's $485 today. meanwhile, it went from 45 down to 410, back to 470, below 400, and here we are again. we set up exactly the same way into the 21st as we did three

months ago. >> it's not just nvidia. intel, amd, taiwan semi. we talked about global found rips last week. there are early cyclical indications that the sector is picking itself up. last point, when amd and intel do have the chips to compete, they're going to compete on price, and that can weigh on margins. there's a lot more "fast money" to come. here's what's coming up next. a big boeing bounce. shares of the planemaker heading for the cloudclouds. what it could mean for boeing's business. plus, the weight loss battle rages on, and one pharma name could be tipping the scales with some new data. how the drugs are tackling more than just obesity. you're watching "fast money," live from the nasdaq market site in times square. we'll be right back after this.

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welcome back to "fast money." shares of boeing rising 4% an claiming the top spot in the dow. emirates announcing a $52 billion purchase of boeing. emirates is the largest operator of 777s in the world. there are reports china could end its freeze on boeing at the upcoming apec summit and announce a deal for 737 jets. tim, you are liking this news? >> i like the news. and again, goes back to 2017, this freeze. i do think you're getting selective headlines out of this air show. i mean, airbus got essentially a very similar order from emirates, so, you know, it's good news. listening also to boeing outline

their plans for 777 certification and some of the other dynamics, at least around the technical elements of some of their backlog, i think is just part of what all this news is. if you are a boeing investor, you are investing for free cash f flow. and you want to get back to the days of 2017, 2018, when you had essentially 25 or 28 bucks a share, with a higher stock price, but you basically had a 10% to 15% free cash flow yield in boeing. that's not been the story. and it's not really beening a the regulatory dynamics, it's been about everything else. do we believe that all this talk abnormalization, all the things that we kind of talked about in the first block about covid, the slower rollout, this plays into the aircraft order cycle and i you this it's all going back to normal and i think it's all great for boeing. >> china has not bought since 2018, that seems a little bit empty, only because they're really emphasizing their own

aerospace industry. >> timing is interesting, too, right? let's throw that out there. and tim is right. the stock that's been -- and by the way, on the way down, i've been dead wrong, but spr from 14 to 23. they priced in a 9 million share secondary at 22, held it like a champ. miles walton just upgraded the stock. you get a close above 25 1/2, 26, spr is the way to play this. coming up, the new data on novo nordisk's obesity drug. jared holz will be here to talk about it. don't go anywhere. "fast money" is back right after this. missed a moment of "fast?" catch us any time on the go. follow the "fast money" pad cast. we're back right after this.

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welcome back to "fast money." stocks finishing the day mixed.

shares of warner brothers discovery dropping 2% after analysts said the media company has an nfl problem. and suggested they could ben eft from buying a company with streaming rights. warner brothers up just 4% this year. novo nordisk closing in the red after presenting data from its select heart disease study over the weekend. showing wegovy has other major benefits in addition to weight loss. the drug reduced heart attack, stroke-related death by 20%. eli lilly gaining 2.5%. for more on the impact of novo's landmark findings, let's bring in jared holz. jared, great to have you with us. >> thank you. >> we knew about this 20% reduction, so, were there any disappointments even at the margins in this data, which caused the stock to pull back in the device-makers to bounce? >> yeah, there weren't too many issues here, i think the things

that the street was picking at, one, the international population did a lot better than participants from the u.s., so, that was an abnormality that investors thought was odd and needs to be reconciled between now and the next study that novo presents. i think the second thing that did not hit statistical significance on death, but it was still very impressive, just if you want to nitpick on the fringe in terms of the study in detail. it -- that did not hit. other than that, i thought it was very, very clean. and i think that's why you saw the stocks recover today when they were down early. >> i don't know if you saw the substack on the data, but he was questioning how many people actually had an absolute reduction in the events, given the price and given how long you had to -- he said, an absolute reduction of the primary end point is only 1.5 for every 100 people directed. the cost is over 1,000 bucks a month. and you had to be on this regime

for more than three years to achieve that end point. how should we start to think about this in terms of how much the drug has run up in the realities of what you achieve for that price? >> well, i you ththink it's goi be a case by case basis, determined by the patients and the doctors to sit down and kind of understand how much benefit did they expect each patient to get over time. that was the one other thing that i think the street had an issue with, there was clear separation at the beginning, almost immediately, and then during year three, the curves kind of converged and improved going forward. i think the issue is, how many patients actually benefit significantly longer term and what defines longer term where we are in that cycle? it's very hard to know. i thought it was an interesting perspective. >> that sort of, i don't want to say nitpicking, but those commentaries and critiques, does it make it less likely there is reimbursement, unless these drugs are approved by congress, you know, weight loss drugs as a class are approved to be covered

by medicare? >> i think it is, it's debatable, obviously, the manage care companies are going to try to push back on any therapy that's available, at least widely and for this sort of a population. that is the biggest overhang on these stocks if there is one. they haven't traded like there is, but if we want to kind of introduce a debate, it's going to be broader coverage and then pricing longer term. >> jared, so, just getting away from this study, to more broadly, so, we believe, i think, novo nordisk has a 17% redu reduction-ish versus mounjaro, which is 20%. how much do you think they will take away from -- from wegovy, and what is it priced for? how are the stocks priced for what would seem like an eventual move with high likelihood, right? >> yeah, once it becomes more widely available, patients that are just looking at this from a weigh loss standpoint and

nothing else, would probably opt to get lilly's drug, because the percentage of weight loss is higher. obviously they are both going through some supply constraints at the current time, novo put a press release out on friday, they're investing $6 billion to get manufacturing up that can satisfy demand, which is very significant. but yeah, i think the lilly drug, there's no doubt their data so far has been better and i think that's why you saw that stock kind of die verge away from novo today, when they were both down early. i think the street or investors believing that whatever we saw this weekend from novo is going to be even better going forward for lilly. >> jared, you talk to a lot of investors, when you look at the names, it's saul that people want to talk about, in a space, there has to be others. novo is up 80 some percent or so, they are over a trillion dollars in combined market cap. where else can investors look, if they believe this is a megatrend, and they don't want to pay the -- the valuations are really steep for pharma right here. >> agree.

you know, i think it is responsible to diversify away from these, as well. i think they're great, but this has been the only story line for 18 pontes in health care. we barely talked about anything else. i think merck is interesting in pharma. trades 12 times next year. obviously keytruda is this massive drug that will eventual eventually erode. theyhave done certain things to kind of offset that already. i think the, you know, are they behind ti hhind the eight-ball, bit. astrazeneca did a deal for a phase one oral obesity drug. no idea if it's going to work, but the market value that we've seen created for novo and lilly is so mons trous that even if it's mediocre, it's probably worth something. so, maybe those two are worth looking at, if you want to diversify away from these winners. >> i thought the pop -- it was a small pop with astrazeneca on that news was significant. it's a chinese study, so early

on, it's oral. what are they buying, what are you getting? and people liked that. is there sort of this mentality these days where investors want to go to the blue sky themes? we were talking about the new painkiller, which could be nonaddictive, et cetera, the answer to opioids, whatever, and the stock is in the sky right now, so, i'm just wondering, you know, is that kind of what you're getting? they don't want to be in the pfizer, in the merck, with good valuations. >> i think so. the market is saying, we want access to massive markets. obesity is ne. pain is another. alzheimer's could be a third, but the data has been debatable or suspect, at least not pristine enough to really move the stocks, but definitely. that's why i think a lot of the oncology names and the broader xbi, we talk about bio tech a lot, these are companies developing assets with fairly limited opportunities that i think that's what's held them back. >> jared, thank you for coming by. >> thank you.

>> jared holz. guy? >> see the glow? his browns won yesterday, good for them. jared's the man. medtronic device maker is way too cheap, i think. bounced today. they report on the 21st. feels like it's been zero sum in big cap pharma. you are in lilly and selling j&j, which is $3 from a multiyear low. we have pointed out a number of times, lilly gives you opportunities to buy it cheaper. it's going to do it again. >> i think merck and the keytruda question is really the overhang. otherwise, the valuation, by the way, this was not quite lilly-esque, but this was the darling stock in '22. that was a great question, melissa, because i think investors are looking at health care, i think the whole aura or lackthereof, essentially the reasons for investing in health care stocks, the defensive nature of them, and i realize there are pipelines that come and go, but that seems to be out the indow. there is a couple haves, three or four haves and everybody else is a have not. and i think that's an opportunity.

and i think it's an opportunity into next year, where the stock market is going to be a lot harder to invest in. >> karen? >> yeah, i think that's where all the money has just been sucked out of those names. tim and my pfizer, just looking at that today -- >> our pfizer. >> 5% yield. >> by the way, nice to have you onboard. >> misery loves company. i've been on this ship for awhile. so many of them, 5% yields. and, you know, relatively low pes. i understand, of course, there's specific issues with each of them, but it does seem to be tremendously out of favor. those things tend to change. coming up, the ev long game. the space rallying today on the back of an investment from a major pension fund. and going nuclear. cameco hitting a high, after a bullish rbc note. we'll get you the trade on that next. huh ♪♪

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with significant improvement over time. ( ♪♪ ) ♪ (upbeat music) ♪ ( ♪♪ ) with the push of a button, constant contact's ai tools help you know what to say, even when you don't. hi! constant contact. helping the small stand tall. welcome back to "fast money. rbc resuming coverage of yuraniu producer cameco, saying it is set to become a leading player in nuclear industry. cameco hitting its highest level in more than 12 years today.

tim's cameco >> nice to have a couple of these, too lead-in player, i mean, it is a leading player what are we talking about? this is a company, in terms of capacity, and the cigar lake, the efficiency and the new capacity coming online, when you look at the dynamics around the spot market, too, and where i think there are -- i think there are probably people short in the spot market, i think there are producers that may in fact be. utilities are stockpiling. i think there are dynamics where you should have a extraordinary squeeze in uranium prices. sprout is in the middle of this industry, and some of the smarter guys there that's where i don't think you can even really know where you want the -- the numbers you want on these companies you don't even need to do that you look at the free cash flow, you look at the numbers and the guidance, and cameco has been conservative, and i think this trade has a lot left >> is there a benefit they're getting from people going out of solar into uranium, in terms of within the alternative space solar is facing all sorts of

hea headwinds. >> in terms of allocations, i get it i think solar has been such a disaster, and i think people that have been investing in uranium, frankly, a lot of people have been at it a long time i think the dynamics on energy transition, especially around nuclear, the building blocks of this is geopolitical and some of this, i think, is well entrenched. coming up, california cruising how a west coast pension fund is boosting the ev makers and how the moves are sparking some electricity in the options markets. we have the details next. and here's a sneak peek at the cramer cam. jim is chatting with sarah eisen ahead of her new documentary on f-1. more "fast money" in two . is

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welcome back to "fast money." ev makers kicking off the week with some electric gains. the america's largest pension fund added tesla and rivian. fisker dropping in the latest quarter. the miss was astounding,

actually, in fisker. the stock is down by 14%. but in terms of the others, guy, what do you make of the moves? >> rivian, if you -- look, it's had a big move, i get it. look at the long-term chart. it hasn't gone anywhere, since everybody was talking about, it's the new best thing and the stock has been grim death the last couple of years. this is a stock you trade, given this bounce, you sell it without question. the fisker move, to your point, i want to say now, if we -- if we open here, this is -- is it an all-time low in the stock? it might be, which is remarkable. >> we're all focused on -- there's been a bigger picture look of profitability within ev. for all the solar stocks that are going to be zeros, there are a handful of evs out there. we know that rivian, between the strategics, and there's cash there, the burn is extraordinary. lucid, that burn -- these are not names i want to own. i can tell you that right now. if you look at the ev space, i think there's still more pain to go. >> interesting, okay? >> what?

>> tesla is up 80% on the year. >> uh-huh. >> it's reported three quarters this year, one in january -- actually four. it's gone down 9.5% over the last three quarters after they've given their results, given their guidance, ceo elon musk has gone on the call, taking questions from analysts, okay, it's still up 80%, that's all i'm saying here. what does that say about the fundamentals going on in a market leader in this space right now? to me, i just take those three days, and they're not particularly great. that's just my take, okay? leave it at that. >> wait. i'mor sorry. . you are saying to overlook the lee days? >> no, i'm saying, the stock is up 80%. >> yeah. >> but the three days, the last three times the company has given their earnings guidance, the stock has declined nearly 10% the next day. >> right. >> what i'm say ing is, there's just a big disconnect between the people who buy it and hold it and the people who are selling it right after the

results. i mean, i wasn't -- i didn't mean to take you look obtuse, but i'm just saying -- >> i don't -- i look obtuse all the time. >> no, you really don't, mel. actually, never. never. >> you understand what i'm saying? >> i do. >> i do. >> when actual data comes out, then we see -- >> right. >> the true stock should be -- the true fundamentals. >> and yet -- >> ill it t still goes higher. >> guy would tell you, it's down 50%. >> i would have channeled my inner tim robinson, say, how can you be so obtuse, for you "shaw shank redemption" fans. that would have gotten me in solitary. >> not the first time. >> there's at least a short-term opportunity to go long tesla. let's bring in carter worth, back on the fast line to talk about this trade. this is a late afternoon sort of note you shot out there, carter. >> yeah, kind of fun, and just that, a trade, and trades have their moment in time, and you either do them or you don't them and they work or they don't.

but tesla dropped in gap, it was a thursday, october 19th, when elon musk came out and said that basically higher interest rates could sap ev demand. dropped 10% that day, right? 240 to 220, essentially. and we're now reapproaching that gap, so, it's simply a gap fill trade, looking for quick move from where we closed today to about 240. >> all right, carter, thank you. carter braxton worth. you see that -- >> gap fill. >> yeah. and a little reverse head and shoulders. carter's spot on. if you gets there, you sell it again. to dan's earlier point. >> one options trader making a bullish bet on lucid motors today. mike's got the action. hey, mike. >> hi there. yeah, so, we did see above average call volume in lucid, this after a lot of bearish activity in the name last week. the busiest contracts were the four strike calls, those expire this coming friday. we saw a purchase of 1,000 for

them at 14 cents. important point here, and that is that this has a very high short interest. so, a lot of the call buying that we might be seeing, especially the short-dated stuff, could be bets on a short squeeze, because the longer-dated paper is worried about that cash burn that tim was talking about. >> all right, mike, thank you. mike khouw. up next, we've got your final trades.

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final trade time. tim? >> let's talk about gold. the setup here, everything. inflation, fed, otherwise, gdx, way to go. >> karen? >> yes, so, sometimes pendulum swings too far. uri, pendulum swung, now $75 higher. selling upside calls. >> dan? >> so, if rates bounce, with a hot cpi number, i bet banks go the other way back down. >> guy? >> tim robins just says hig to

you, mel. >> big fan of the show. >> he's a huge ranger fan, as well. >> i bet. >> i've hung out with him at a ranger game. >> spr, melissa. >> name drop. >> thank you for watching "fast money" on this monday. see you back here tomorrow at 5:00. "mad money" with jim cramer starts right now. my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money" welcome to cramerica. other people want to make friend, i'm trying to make you money. my job is to educate you and entertain you so call me a