bank earnings on friday. >> on bitcoin, it feelings like we've gone from gold rush days to, like, gold etf days. it's a little different than rushing into california and, you know, oh, where did i leave this bitcoin in my closet? now it's an eft. that's going to do it for "overtime." >> "fast money" begins right 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. bracing for the banks. after a strong finish of 2023, the financials seem to be stuck in neutral. will earnings season unleash a wave of buying or is a pull-back ahead? we'll handicap the results. plus, it can never happen again. those were the worlds from boeing's ceo to phil lebeau today, so, the question now is, how long will the max-9 be grounded? and how much will the impact be on the stock? and later, going nuclear. why uranium and yuranium stocks have been skyrocketing. back to the future. and steve and courtney are ready

to unveil their acronyms. one is scheming, the other is hoping for a wage hike. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, steve grasso, and guy adami. we start with a countdown to the big bank earnings. the sector has been on a tear, heading into the reports. jpm is up 20%, trading just off an all-time high. citigroup filing an ak in just the last half hour to give insight what we could hear from them. a reported $1.7 billion charge in the fourth quarter due to an fdic assessment and additional 780 million does charge from restructuring, which includes receive rage packages. so, what else could we expect to hear from these reports? guy, the bar was set high with the runs. >> really high. we'll throw up a jpmorgan chart to go back a few years, you'll see we're trading at prior all-time highs. we're also trading at about 170%ish of book value, north of

two times tangible book, which, for jpmorgan, gets a little bit extended in terms of valuation. people will look at it price to earnings. i don't look at it that way. just in terms of price to book and tangible book. given the runup we've had, i think they really got to knock the cover off the ball to get this move going to the upside, given all sort of the headwinds that all the banks face, not least of which jpmorgan. >> true. and banks historically, i mean, the last five, six quarters going into their numbers have really been on the skids. and so, it is uncomfortable to see this, even though as a bank investor, i'm happy that the market is willing to put a bigger multiple either on their tangible book value, which i think is really probability the most appropriate. guy's right, jpmorgan trades at a premium to the group. and citi bank, which was around .55 price to tangible book and just got too cheap. you talk about that restructuring and some of those costs, the story with citi is really one where we're trying to think of this bank in a new era,

in a new light. and a bank that's thinking about efficiencies. a bank that's thinking about productivity. and i think that's a multiple that can go higher. you -- we expect to hear that their capital markets bids, probably, at least for this cycle, hit a bottom. either last quarter or the quarter before, that actually, there's some resurgence in m&a and some of the dynamics on the banking side. for citi bank, it's been about this sprawling kind of presence globally that at times has been its own biggest nightmare. and i think this is a good era for citibank, and the other side of this is, banks and capital and their ability to give capital back, it seems like we're a long way away from svb at this point. >> i mean, a lockng way, banks e up 35% since svb. that's a long, long, long way. for citi, it's aberrout rationalization. we had mike mayo say citi was his top pick. he really liked the story.

and bmocutting it to a market perform. >> mike mayo is usually bullish on banks. and he had a good year last year. but if you look at jpmorgan and wells fargo, they really stood out as performers. i don't think that can happen again. and when you look at earnings trough, earnings bottom for most sectors, financials, probability not, so, i think financials are gauged to be down roughly 3%, 4% on the whole. but the insurance, this is through fact set, the insurance arm of that is the one that's boosting it. so, without the insurance arm of the financials, the financials should be down 8%. so, i know that everyone waits for the financials to leave the market in the earnings. i'm bullish, but i don't think we're going to get great stunning performance. >> i don't think they've led -- they haven't been that sort of barometer for earnings since probably before the financial crisis at this point, but in terms of the valuations going into -- the other thing to layer in, if you believe that a credit cycle is going to happen, and that was sort of a point of this

overear ching id downgrade citi, downgraded axp, as well. but the concern is about credit qua quality, increase in delinquencies, et cetera. >> liz ann saunders put out a treat today, credit card interest rates are at the highest we've seen in 15 years, if not all times, 21.5%, on average, which is extraordinary, if you think about it. i do think there's going to be a credit event. and i do think unemployment is going higher. i might be wrong, though. if you think those things are possible to happen, i think banks are going to be at least headwinds for banks are going to be there for the beginning part of 2024. with all that said, i mean, jpmorgan, if you look at flat h earnings growth, flat revenue growth, and oh, by the way, jamie dimon has been pretty dour over the last 18 months. interestingto see if he speaks on the call. >> and there's going to be a succession plan.

2024 we 2024, we're going to be worried more about who is taking over. he's already stated that he's going to stay on until, what's the number, 2026, until the headquarters is done in the city. >> until the headquarters are done. they are still building. i drive by every day. >> it's going to be hard. the premium that is put on jpmorgan, with jamie dimon at the helm, is probably very large, more than we can -- >> when the succession plan is announced -- >> that's what i would guess. >> i look at how investors are approaching the whole sector, and guy's right, i -- the consumer is only going to weaken in terms of their credit kq quality, but the broader market dynamic that is including banks i think is because of banks. we are in a world where the sense is that the worst of the fed's pressure is letting up on the banks. and i think that's part of what this needs to be. there's no question that banks were pricing in a whole lot of credit concern that two, three quarters ago was even less apparent than it is today. i think there's still some of that to take off of the

headwinds that we priced on these banks. and then you have morganstanley and goldman sachs and the brokers reporting. it is kind of a noisy quarter, but a place -- they saw a return to some of those m&a dynamics that i think really deteriorated. and going forward, they're going to be optimistic on what's coming. this -- if you think that rates are going down significantly, then maybe banks -- some of the companies that are coming to market can be more patient in trying to raise debt and do e equity deals. if you think there's a window that's open, and central banks are showing, they are trying to ra raise rates as much as possible. i think the capital markets are going to be very strong. >> that's what james gorman said. when rates come down, the flood gates are going to open. >> he chose this year, or last year, to announce his retirement. now, he got in at the right time. a lot of people say maybe he's exiting at the right time, as well. i'm fascinated to hear, again, what jamie dimon says in terms of commentary, given what he

said over the last 18 months or so. and he really hasn't wavered in terms of some of the headwinds he thinks are out there. if some of those headwinds have abated, i'd like to hear it. >> meantime, investors are eyeing tomorrow's cpi report. will inflation have cooled further in december? let's bring in steve liesman. steve? >> yeah, it's a big number tomorrow, melissa, that's going to test the market's optimistic outlook for fed rate cuts. the consensus is a little hotter on the headline, unchanged on the core, but that's going to continue to bring down the year over year rate. this here are the numbers we're looking for, 0.2, up from 0.1 in the prior month. that will bring it up 3.2% on the headline. but the core is looking to be unchanged, going to bring rate down, because base effects of bigger numbers dropping out. but it is numbers like these that have john williams this afternoon hailing the progress on inflation, but not ready to

commit to cutting rates since the inflation rate remains elevated above the 2% target. williams said this afternoon the fed forecast for three cuts seem reasonable to him, but only after the central bank is confident inflation is heading back towards the target. if there's a downside surprise tomorrow, it could come from the housing part of the report. recent reports show rents have been falling and those declines have yet to show up in the inflation numbers. hey, maybe it happens tomorrow. it could happen. separately, the cnbc nrf retail monitor finding up 0.4%, that is half of the strong number we got in november. core retail, that takes out restaurants, struggled up 0.2% compared to 0.7 in the prior month. it was a good guys, not great christmas for retailers, and we'll have to see if the december cooling is part of this broader economic slowdown that's forecast and forecast and forecast by the street but doesn't really come. >> yeah, the rent aspect will be really interesti ing to watch.

the zillow rate indicatesrising to flat. we'll see what we get out of the cpi report. but i wanted to zero in on this notion that inflation may be slowing, the rate of inflation may be slowing but consumers are still very uncertain about the future and how does that impact what the fed does and how the fed sort of packages the message? >> i think the fed goes on what they spend, not how they feel. i think -- the split between sentiment and spending, i think the fed is going to follow spending. i don't think there's at least much correlation you can get from the idea that there's this down sentiment that's out there. i also think that -- i'm listening to your conversation, i feel like -- and i get it, it's like, you just touched a hot stove, you want to be carcare ful the stove is not hot again, but we shouldn't necessarily be afraid of growth. why do we believe -- we didn't believe this before the pandemic, that if there's greater growth, for example, than consumer spending than

business spending, that you won't have growth in supply to meet it? that's the way the world used to work. it is possible to have strong growth with the fed cutting rates, and you have an increase in the businesses that provide the supply for that growth. and also to quote somebody else, you had growth can also lead to less inflation, because you're building more plants and equipment. i don't think we should be as afraid of growth as some people are, but i get why they are. >> i understand that, steve. listen, in terms of the jobs side of this equation, and i watch you every time there is a jobs report. the numbers come out, but the revisions now for the better part of the year, obviously, have been disappointing. i don't know how the math works. my concern is that the unemployment rate, which, whatever it is now, 3.7, is going to start to stairstep its way towards 4.5%, when the revisions start to kick in, and all the layoffs we've seen over a swath of industries make their way into the equation. i mean, am i right to look at it that way or am i grasping at

straws here? >> well, they are slightly separate. the revisions happen to the ray roll side of the report. the unemployment rate is calculated from the household report, but if what you're asking about is, is there a general weakening, yes, i think that when you look at what you're talking about, which is that 10 of the past 11 months through november, which is what we have revisions for, were revised downward. and you have to go back to, i hate to say it, 2008, to have that kind of revisions. so, you should be worried about weakening in the job market. but the expectation is that there is some weakening, but it doesn't get that high or that bad because people have been so -- it's been so difficult to find labor. plus, you know, it's interesting, guy, there are some sectors i've been looking at, retail, health care, even leisure and hospitality, which have been big growth areas for jobs, that are still not at their prior level or at a level

that would account for the fact that the economy has grown since 2019. so, there's this baseline of growth that i think is going to be -- that the job market is going to be okay amid some weakening out there. >> steve, great to see you. thank you. happy new year, by the way. >> yeah. >> there you go. first one. >> you, too. >> steve liesman. i had to get that in. i really don't say happy new year ever except when guy is here. >> going to last for awhile. >> cpi. if i told you what the number was, do you know how the markets would react? >> let's see. i feel better about this one. i've been wrong on cpis. the november cpi, which was a catalyst to the market, especially the banks, i do think, was one. i got it wrong. i don't think this cpi is going to do anything to change the trajectory of how we're viewing this fed. and i think ultimately, it's going to take a lot to change the trajectory of how we're viewing this fed, which is not that the fed is ready to cut. i don't feel that way, i don't think we've been saying that. whatever fed fund futures are

telling us, i think this is a fed that recognizes, look, the inflation victories are going to be a lot harder from here. we had lower gas prices, which were very beneficial to make the overall number look good. i think this one's going to tick a little higher. and i think it's not a bad thing. it's a sign of some of the strengths out there. we don't want deflation here. >> so, cpi probably runs a little bit hotter, but year over year, it is obviously going to be down big. that's what's the important headline number. but pce is the fed's choice. that's been running at around 2% annualized and its core is below the 2% target. so, i think the fed is more concerned with pce than cpi at this point. the market is more concerned with whatever data you give them, so, tomorrow if it's a little hotter, the market probably sells off. a news alert here out of the s.e.c. securities regulator approving 11 spot bitcoin etfs, for real. it's official. kate rooney's got all the details. hey, kate. >> the s.e.c. has officially approved a wave of bitcoin etfs.

the agency putting out a statement last hour saying 11 applications now have the green light to trade here in the u.s. you've got some of the largest asset managers in the world on that list, blackrock and fidelity on the list of etf sponsors, grayscale and kathy woods' ark. these are set to start trading tomorrow on cboe, the nasdaq, and the new york stock exchange. not much fanfare. and the same breath as approving the funds, he highlights the risks that still abound in crypto markets, saying essentially buyer beware. he says while we approved the listing and trading of these shares today, we did not approve or endorse bitcoin. investors should remain cautious, he said, about the myriad risks associated with bit cown and products whose value is tied to crypto. one person described this approval as the worst kept secret on wall street. you could see the price runup in the last couple of months here. still very much a milestone, though, for the asset class,

seen as a legitimizing moment, in a way to make this asset class more main stream and bring more safety and stability to these markets, melissa. back over to you. >> all right, kate, thank you. coinbase's ceo will be on "last call," that's tonight, 7:00 p.m. eastern time with brian sullivan. let's trade it. the s.e.c. statement regarding bitcoin itself seems to be on sort unusual to cast judgment on an asset as opposed to, you know, just approving the etf. >> they have to. and they have to based on how outspoken they have been on this. this is unique. and i think what this does is, it really does open up for the broadening of the asset class. remember, more regulation, to me, means more institutional adoption, and i think a wall of institutional money, whether it's going -- it's a good thing, actually, we're probably in crypto 2.0, 3.0, but think about where we were, especially in

early 2001, when you saw risk assets, you saw the mania that was coming with free money and helicopter fed and what not, going straight into tokens. and i think we're in a very different place. but i think as you look at other places, other -- i would call them vehicles for mass adoption, and that obviously is, you know, it's already en masse, move down the curve a little bit. and i think this bodes well for coin base. not because the bitcoin dynamic takes away from what people kneneed to do on coin base. it's not trading on bitcoin that gives coin base their pole position. it's really the rampway to that. >> we saw the other initial sort of interesting reaction is bitcoin sold off a little bit, little softer and ethereum really skyrocketed, almost maybe in anticipation of an ethereum etf, which is coming next. >> and we're not going to hear about that from the s.e.c. until the summer. so, i think a lot of retail probably got pulled in. i rode the ethereum trust up on the back of this, sold it

yesterday. own it still small, but i sold most of t. that decision is not coming until the summer. and they're following the path, if they approve for bitcoin, they'll approve for ethereum, ethereum probably still bullish going into this. >> this time in 2020ish, coin base was trading $35, left for dead. now tim had a great trade in this all of last year, traded up to, if we pull up a coin base chart, you look, we traded up to the march 2022 highs, about a week, maybe two weeks or so ago, about 180 bucks. it has given it back since. it went from a very reasonable stock to, you could make an argument, got a little expensive, but i'm fascinated to hear what brian armstrong says about this, because i think the bull side of the equation is right. tim's right. there's a bear side of the equation for it, and maybe that last selloff -- >> and it's regulatory. look, they're in the crossharps of a difficult battle. they are not free of this battle also with the regulators, so, i think -- i see some of that as upside, because i actually think that the markets priced in a lot

of this and there's still that overhang. if and when that free move, it's a major tailwind for the stock. >> as i understand it, andrew rosser kin will be doing the interview tonight, but still, on "last call." >> ars is the man. >> still an interview you want to watch. coming up, afterhours action in shares of kb home. the builder on the move after reporting results. details next. plus, our periodic check-in on uranium. shares surging this week as regulators start the push to increase domestic supply. is it time to nudge into the nuclear space? we'll debate that, when "fast money" returns. this is "fast money" with melissa lee. right here on cnbc.

trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content

curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab.

welcome back to "fast money." we've got an earnings alert on kb home. sinks afterhours despite a top and bottom line beat. diana olick has the call. >> it was a mixed bag on kb. they beat on the top and bottom lines and deliveries exceeded expectations, but the average price of a kb home sold during the quarter was down 4.5% year over year. that could be part of the stock issue. gross margin had a narrow beat,

which may have been a result of that pricing pressure and potentially buying down mortgage rates. the builders have been doing that aggressively lately. and in october, the 30-year fixed hit a 20-year high. briefly over 8%. it fell slowly into the 6% range, so, in the release, ceo jeff metzger said, we have experienced a meaningful sequential increase in our net orders for the first five weeks of our 2024 first quarter, as consumers are responding favorably to the recent decline in mortgage rates. so, again, things could get a bit brighter, melissa. >> diana, thank you. what do we make of the home builders now? rates have come down, that should be a tail wind. >> and the run over -- since, well, since rates came down, right, since that move in late october, i mean, the move in these stocks to now again all-time highs has been staggering. look at this report. the headline eps, people say that's a great thing, but diana

just said it. deliveries decreased 10%. that's not good. selling price down to $487,000 from $510,000. that's not good. and then you start to talk about the margins. down to 10.9, this time last year, 14.4. i bring it up because if you -- if this is the beginning of a trend, on top of what i think is going to be a rise in unemployment rate and a strapped consumer, i don't necessarily think you have to stay with the home builders here. >> by the way, it looks like orders surged by not as much what analysts have been expecting. so, that could be a problem. >> there's a price to be paid, but as someone that's not -- i'm not bullish on home builders at all. probably less bullish on construction materials. when i think about the home builders and i think probably the best ones are phm and toll brothers, their balance sheets and therefore their kind of price to book, their book value should be increasing. and i think that's ultimately a good thing for owning them. i think we're in an environment where i still am of the view

that the mack coe around housing in our country, especially closer to urban spaces, is going to be a lot more difficult over the last few years. it just takes a lot of time to play out. and we're talking about basically full appointment. >> pulte is the first-time home buyer, that's up over 100% in a 52-week performance. if the home builders do not have to subsidize anymore these mortgage rates, that's a tailwind. rates comes down, tailwind. but i agree with guy. i think you kind of overextended this. you would have to see the rates fall for a mortgage rate, probably has to be in the fives or high fours, and i don't think we're getting there. but if we do, then these stocks will outperform again, because everyone floods the market to buy homes, to put homes on the market. i think it's a boon. >> home depot upgrade today on the notion that the bottom has been hit in the housing market. >> it's hard to say that, when -- we when the last -- the bottom in the housing market was -- >> probably during --

>> maybe during covid. it's incredible. >> i don't know how you gauge bottom. >> well, that's another show. but with that said -- >> whoa. whoa. >> i mean, there are a lot of reasons to continue to like home depot. however, at some point, valuations get in the way. and we have a crack staff in ec -- >> very crack. >> put up a 20-year chart of kbh, this concerned me. carter would point out the fact that we just traded up to levels we last saw in 2005 and you can look and see what happened from there, so, the potential for a major double top is now put in kbh. all right there's a lot more "fast money" to come. here's what's coming up next. not all that glitters is gold. sometimes it's uranium. the metal surging to 15-year highs and bringing one miner along with it. so, is it time for your portfolio to brave the elements? plus, the impact from boeing's air panel blowout and how airline stocks can fare from here. everything you need to know

about the tarmac trade, next. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond.

there's no sure-fire way to prevent accidents at work. so talk to your agent about worker's comp insurance from pie. or visit pieinsurance.com and get a quote. safety first, then pie insurance. ♪ (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." shares of cameco rising for a third straight day. the uranium company getting a bounce amid news yesterday that the department of energy is taking steps to build up a domestic uranium supply. the stock flirting with levels not seen since 200 7. tim w-- we're expecting the senate -- >> that's going to ban the full russia dynamic.

and it's about 25% of ours. and let's be clear, cameco, which is up 130% since russia invaded ukraine, it's not a cheap stock. it's a cheap stock if you look at what their production growth was next year and you look at 30% for next year, you look at, really, where they were based upon eps of a, you know, $67 uranium price last year. prices are now over 92, back to 2007 spike levels. the other side of this, again, it's supply/demand. the demand side of this is utilities continue to grow demand and have to replace reserves, and i also think that there are players in the market, cl which they might be edge funds or utilities. but there's no question this is squeezing higher. i think it's going to continue to squeeze higher, and this is a trade that, you know, we had the guys from sprout on, they are so smart, and they're the right guys to listen to. it was a decade of underinvestment. no nukes spurned some great

music, i mean, that concert that was in central park day in the day, i was barely old enough to walk -- >> jackson brown. >> it was '78, something like that. james taylor, carly simon. >> jackson brown was there. that was peak jackson brown. ccj, our crack staff can do this. tim mentioned '07. let's go back to 2007. much different stock market at the time, but we're in a much different paradigm now. there's -- it is an expensive stock, but you know what? nvidia was an expensive stock. that grew into its valuation. that was a secular change. there's a secular shift going on. i can't speak about ura, you know, the components and how the eft is built, but if you want to sort of go downstream, ura has upside, as well. >> nextgen, another name in the space, but no one wanted to talk about uranium, nobody wanted to toque about nuclear power plants and now you're starting to hear those stories really come up again and they're being accepted now as clean energy, as they

should have been. the problem is waste, and the waste that spins off of it, how to get rid of that waste, but definitely more of a clean energy play. people are talking about it. these two stocks can go higher. nxe has been less overbought than cameco. coming up, the latest on boeing's plug problem. what the ceo had to say about the blowout and how much more downside could be in store for the stock? that is next. plus, two more trader acronyms coming your way. grasso is paying up with his picks, and courtney garcia is going to drop in to give us the grand scheme of things. that's coming up when "fast money" returns. missed a moment of "fast?" catch us any time on the go follow the "fast money" podcast. you're back right after this.

i think i'm ready for this. heck, yeah! with e*trade you're ready for anything. marriage. kids. college. kids moving back in after college. (applause) here's to getting financially ready for anything. and here's to being single and ready to mingle. who's ready to cha-cha? icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. ♪ (upbeat music) ♪ ( ♪♪ ) constant contact's advanced automation lets you send

the right message at the right time, every time. ( ♪♪ ) constant contact. helping the small stand tall.

welcome back to "fast money." stocks climbing ahead of tomorrow's inflation data. the dow jumping 170 points, the s&p up half a percent. the biggest gains in the nasdaq, up three quarters of a percent, now on a four-day winning streak. and it just wasn't u.s. stocks heading higher. japan hitting its highest level since march 1990. a big jump in tech stocks leading to that run. what did you make of that? >> look, the i in bicep is the

international etf. international investing is something i believe in. japan's put a lot of pressure on the corp rapts to increase their payout level. we know there's inflation for the first time. what is it, 37 years since we've been here, in the nikkei? i mean, guy, what was it like back then? >> it was different time. i mean, nick saban was coaching the jets, i think. oh. >> he's retiring! >> nice job. big news. >> can we believe this? i can't believe it. >> mels wearing -- >> wearing the crimson tide dldlor colors. if you are thinking about retirement, you are already retired. >> i happen to know this for a fact, he watches, i mean, he's all football -- >> he's going to watch all the time. >> from 5:00 to 6:00 -- >> he's got a lot more time. he's a market guy. >> he can make us an acroacrony

let's get to boeing. max-9 jets remaining grounded until the faa can complete what it calls enhanced inspections. boeing's ceo addressing the blowout earlier today on cnbc, telling our phil lebeau it can never happen again. phil joins us now with more from that exclusive interview. and phil, your first question to him, he looked like he was tearing up. >> yeah, that's the most rattled i've ever seen dave calhoun. you can tell that this has really had an impact on him. it would have an impact on anybody, but i think for him, when hem saw the video, can you imagine thinking, why are there not two people in those two seats? thank goodness there were not two people in the two seats next to where the blowout happened on the alaska airlines plane. let me bring you up to speed in terms of where things stand about the inspections and the protocol and getting the parked 737 max-9s back in the air. the faa, working with boeing, and boeing, by the way, has internal safety group.

they have this group, they've had it for awhile, and they are now taking charge with this. they have a war room here where the max is built. they're reviewing the work history, not only for the alaska airlines plane, but all of the max-9s and coordinating what they're finding along with the ntsb and the faa. here's dave calhoun from earlier today. >> it's a safety incident, and nobody's going to live with that, period. we're all going to be certain, all of us, that there are planes that fly will never -- never fault like this again, have a safety incident like this again. >> all right, so, what happens with the grounded 737 max-9s? the inspection process, the protocol, exactly what airlines have to do to check these planes and check the door plug, they have not been finalized. still work going on between boeing and the faa. the grounding length remanes unclear. will this extend into next week?

beyond that? nobody is sure. the cost, according to sheila at jeffrey's is $36 million for boeing, if you game this out over a two-week period. in other words, after two weeks, the max-9s are back flying again. the inspection process, as i mentioned, as you look at shares of boeing, it's noll finalized. and i checked today with people in washington, there's no sense that this is going to happen any time soon. might be a little bit of awhile until we get that. and finally, with spirit aerosystems, you have to watch this stock, because they make the max fuselage and they are part of the ntsb investigation and they're also going to be working with boeing and the faa on these inspections. >> that was going to be my question, phil does this get sbr off the hook? this stock was up 100% since september. it really didn't sell off as violently given the news and it got some back today. is this about all-clear? i read something like it was boeing's job to tighten

everything up once they took delivery of the fuselages. >> well, boeing is the final assembler, so, boeing is ultimately responsible to make sure that any plane when it is delivered meets all of the safety requirements, full stop. that doesn't mean that there may not be issues from spirit aerosystems which is the primary supplier. so, what you're getting out here is this question, are they going to be about solved of any blame? no way of knowing, bau the ntsb doesn't even know exactly what caused that door plug to be sucked off of the aircraft. so, as a result, it's a little hard to know exactly what the fallout may be for spirit aerosystems. we should point out dave calhoun said they set up a war room on saturday where they had top leaders within the commercial airplane group, those who work on the max, top leadership from boeing, and also pat shanahan from spirit aerosystems. he was here saturday all the way

through today. guys, back to you. >> phil, last question. you said, you know, boeing is responsible for tightening the bolts, full stop, i'm paraphrasing, obviously. has dave calhoun come out and said that, too? when kelly asked him how this could happen, he talked about quality escapes and gathering everything, et cetera. >> sure. >> there wasn't sort of a clear ownership of this problem to me, at least. >> well, i don't think that there's going to be a clear ownership until people know exactly what caused this. and that's not, you know, i'm not defending dave calhoun or spirit aerosystems or anyone. until we know from the ntsb, this is what we believe caused this incident, it's hard for anybody to take full ownership having said that, melissa, dave calhoun says, look, unacceptable. it's a mistake, we need to be, you know, we need to own it. we need to say, okay, how do we keep this from happening again? >> all right, phil, thank you. terrific interview. phil lebeau.

despite the latest developments, our next guest believes the financial impact to boeing is limited. pic nicholas owens is with us. what was so striking to me, just, you know, on monday, was to see lots of analysts come out and basically say, there is limited financial impact. and i understand. you're a financial analyst, so, you have to plug things into the model, but aside from a financial impact, which may be tens of millions of dollars in the next couple of weeks or so, is there a bigger impact that you're concerned about that will hamper the stock? >> sure. i think i want to take that in two parts and we can get into the backdrop of why boeing has a lot of let's say upside to it, over the long-term, just, there's a secular growth market for these planes, but in terms of the impact of this incident, i like that estimate of two-week grounding. what i would worry about is if somehow this bolt or door issue spreads to hundreds of more planes and the groundings go on

for more weeks. that would, again, add up to some money that boeing can afford at this point. the real risk is that the -- their ability to deliver planes over the next couple of months and years gets slowed down again. that's really the risk to, let's say, my thesis about the company and my $232 fair value. and they would have to go back -- >> sorry to interrupt, nicholas, but i'm sort of curious about this notion that, you know, boeing is a company, and under the ownership, the leadership of this one ceo, has had some major incidents, which make the flying public question whether or not they want to fly on boeing planes. to various degrees, this is a much smaller and contained incident versus the prior with the max, but that this can happen and there is a bigger impact, or a bigger investigation into boeing, questions about dave calhoun's leadership or anything like that. >> yeah, so, i see this incident

and i think dave calhoun is speaking in a way that makes it seem that he sees it this way, too, it's a wakeup call, right? thankfully, everyone walked away from that plane, and he thanked the crew and the leadership of alaska. the -- i see this incident as the most recent in a pretty long string of these so-called quality escapes, some coming out of spirit, ultimately boeing, i think, you know, the buck stops with them, it's their product. the -- this one was far more dramatic. what you've had is a series of notices that a certain tail assembly wasn't done quite right and they've been inspecting them as they go, and telling people before anything awful happened, right? so, that's, i think, why this takes a higher, more dramatic effect on the reputation, but it's been this dribble of the quality control issues over the last couple of years, and i think they all come from a

disrupted manufacturing operation. >> all right, nicholas, thank you so much for your time. nicholas owens. tim, just quickly, what do you think? >> you know, there's a lot of fear out there in the flying public. i think you are right to address it. it's more than just casual. i think there is an opportunity. i look at the financial side, i look at the nines, they are about one-seventh of their max fleet, you know. i look at the economic impact here, and i think this is an opportunity. longer term, out two years, this is about free cash flow, bowing getting back to where you were five years ago. coming up, more trader acronyms. one of our traders has one that starts with a v, maybe for victory. and our other trader is thinking of payday. that's next. "fast money" is backn o. itw there's no sure-fire way to prevent accidents at

work. so talk to your agent about worker's comp insurance from pie. or visit pieinsurance.com and get a quote. safety first, then pie insurance. (♪♪) access to opportunity isn't always equal. but at the massmutual foundation, we believe tha— you know, it doesn't really matter what we believe. what matters is what ruth, marcus and michelle believe.

that kendall believes he has a say in his future. that these neighbors believe there's opportunity in their neighborhood. at the massmutual foundation, we don't believe. we know things get better when we invest in each other. (♪♪)

welcome back to "fast money." this week, we are unveiling our 2024 trader acronyms. happy new year. steve grasso will have his picks in a minute. but before that, we have a special visit from courtney garcia. what is your 2024 acronym? >> yes, and thank you for having me. happy to join remotely today. our v-scheme. we're favoring value over growth. we think the rotation is going to continue as we look into 2024. and just as much as last year was a year of speculation, we

really think you're going to see this return to fundamentals. the sc is small caps. this is really going to be an interest rate play. this tends to be a category that is going to benefit from interest rates lowering. and also, if we see profits accelerating this year, which we do expect to, that tends to be an environment where small caps outperform. our h is for health care. if you're really looking for an area that underperformed last year and is a great value, you want to look no further than health care. it should benefit from lowering of interest rates here, which is clearly our theme. as you're going to likely see m&a activity picking up there. our em is for emerging markets. interesting enough, 80% of global gl d gdp coming from eme markets. when you're looking at 2024, it is actually expected that earnings growth is going to be up to 18% next year which is very impressive. if you see a lowering dollar, that's only going to help emerging markets. and lastly, we have energy.

the balance sheets on the big emergency companies have continued to be very impressive. you see the production cuts, which are going to be hard to unwind. i think that's something you want to look at. for all of those reasons, this is your victory scheme for 2024. >> i'm happy she left a couple of letters for me. >> well, well, i mean, we haven't gotten to the fact that -- they are just the first letters of the -- >> are we playing scrabble? >> i was a little of a stretch here, to be fair, but you know, i had to make a word of it. >> listen, real quick, because i know we're running out of time. >> so out of time. >> if we do a single shot on courtney, i thought the v was for van halen, tim, because that looks like eddie's guitar behind her. that's bad ass. >> and we have the best of both worlds. let steve go. >> all right, steve. >> so, my underachiever, mine is wage. you heard me talk about this, west rock. they are going to be merging, and that's going to be probably in the second quarter, the new

symbol is going to have a w in it. the second one is amgen, for -- this is one that i wish i could go backwards and get some of the perfo performance. you are not allowed to do that? >> you can try. >> we're looking at lilly, novo. and those two companiesyies add $300 billion in market cap, so, if this one is already added $30 billion, there's as lot more room to be there. then, there's google, google, i think, has been underappreciated. they haven't been a player in the a.i. world. i think they're going to be a huge player in 2024. they are third in cloud storage behind amazon and microsoft. i think they have a lot of room to grow. last one, ethereum. ethereum trust. i think, for the same way we started the show, with the bitcoin etf approval, this one is going to rally most probably into the summer until we get that regulatory headwind removed. >> all right.

well, thank you courtney. it was a good try. even though it had no tickers in it. coming up, a.i. is taking over las vegas. everything from cars to refrigerators are getting in on the action. we'll go live from the ces show ngoor for a look at everythi on offer. more "fast money" in two. rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium.

we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪)

welcome back to "fast money." a.i. is taking over las vegas. intel, meta, qualcomm and even mercedes-benz showing off a.i. offering at ces 2024.

julia boorstin is live from las vegas with the latest on all these new gadgets. julia? >> well, melissa, this year's consumer electronics show is all about a.i., with chatbots, new a.i. chips, seemingly for every type of possible gadget. now, samsung has been showcasing its a.i. companion robot called bali, which interacts with other smart devices in your house and can project pictures or videos on your walls. can even check in on your pets by sending pictures of them to you. samsung's new a.i. fridge tells you what's inside. the expiration dates, and suggests recipes based on what you have. even lets you order the ingredients right from the refrej rail or the that you don't have. now, this year, there are more a.i.-enabled cars and tractors than ever, with intel just afwhounsing a new a.i. chip customized just for vehicles. as it battles with nvidia and amd to power the internet of things. meanwhile, mercedes is showcasing its in-car operating system to eventually offer directions and restaurant

recommendations with what they say is empathy for the mood of the driver. and l'oreal this year wbecame te first beauty company to have its ceo keynote at ces, with a virtual makeup try-on tool. while there are new giant trance parent tvs and foldable phones, melissa, this year, it's the a.i. tools that seem really different. >> all right, julia. and there are headlines on paramount and a potential takeover? >> well, what i will say is these headlines are very much in line with what i've been reporting, which is that david elson's company skydance has been in talks and potentially interested in buying either all of or controlling stake in national amusements. this is the company that sherry redstone controls and through natural amusement, she has a controlling stake in paramount global. the idea here, and this is what a source close to the situation tells me, is that skydance is interested in pursuing national

amusements as a way to acquire paramount global, but here's the thing, very important, they have not done due diligence, so it's early stages. nt,in tdeht, julia, thank you. upex falras.

time for the final trade. tim seymour? >> still, i can't believe the saban news. boy. but the s.e.c. still is number one. bmy was not number one last year. pharma is in trouble. not. time to buy it. >> grasso?

>> westrock. if it goes through, the largest global packaging company. >> guy? >> nick actually messaged me, he wants to come on and do an acronym. pru. >> it's something like win, or, you know. thank you for watching "fast money." see you tomorrow at 5:00. don't go my mission is simple. to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere. i promise to help you find it. mad money starts now. >> hey. i am cramer. welcome. i'm just trying to make a little money. my job is to entertain and educate. call 1-800-743-cnbc.