higher end of that range, and again, some of that is going to matter on the macro data we get and trading, tomorrow is the end of the quarter s&p 500, record high today, snapping that three-day losing streak we saw, and the dow close to 40,000 now. kind of amazing. 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, on a day when the s&p 500 notched another record close, this is "fast money. here's what's on tap tonight shares of names like mcdonald's and wendy's are far underperforming the broader market, and a new report finds the consumer might be cutting back at the fast food chains what it says about the state of spending and the economy. plus, gold glistens. trading at all-time highs, and finally, the miners are starting to catch up. how you should play the space. and shares of donald trump's media company continue to soar what is driving these gains?

bitcoin bounces around all-time highs. the next move for the crypto and the surprising stock that's leading the industrial space this year. how much higher could it possibly go? i'm melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- tim seymour, karen finerman, dan courtney garcia, and guy adami >> we start off with the latest sign that higher prices are taking a toll on the consumer. a new study finding that lower income spenders are pulling back on eating out. according to the poll, 28% of people earning less than $50,000 a year say they did not visit fast food restaurants as much over the past month, while 46% are staying away from fast casual chains. those are higher percentages compared to those earning more than $50,000 the lower demand reflected in shares of restaurant stocks. mcdonald's and starbucks off 4% in march darden is off 2% so, are restaurants signaling consumers are getting even more squeezed we heard this from the likes of mcdonald's, from wendy's, concerns about the consumer trading down, not spending as much, going less frequently.

>> yes, we heard it from mcdonald's on february 6th, the first time since we've been doing this show we heard that from mcdonald's. we've heard it from the dollar stores without question. we heard it from walmart to a certain degree so, you are starting to build a little mosaic here in terms of the state of the consumer. with that said, doesn't really matter for the broader market, because here we are, all-time highs. mcdonald's maybe not even 8% off its all-time high. the stocks are holding in there. i think it's a warning sign in terms of how people are feeling, but their pocketbooks, as well >> you wouldn't know it toda from the retail space that seemed pretty good, better than pretty good, and i don't know, you know, i thought, when we saw dollar tree, which ended up being somewhat of an it owe sin cattic, specific to them, because we saw dollar general, that seemed much better. i don't know, i feel like if you're a good merchant, if you're a good -- if you have a strong brand, i feel like you're

still in good shape. >> right well, they had menu price increases, so, even if volume goes down, their total sales still -- >> like a chipotle it's higher -- >> higher, yeah. >> but still -- >> well, darden just reported recently and said that, you know, the olive tree, i believe -- >> not the olive tree. you look at me like -- >> olive garden. >> anyway. the point is, same-store sales were down 1.3% they have talked about the trade down they have talked about the dynamics in fast casual. if you look across a couple other places, someone like domino's, they had numbers recently, their numbers were excellent, and i think they have a slightly different client base theydynamic, their digital platform is best in class and the companies that have been able to kind of evolve on the fly -- they talked about an affiliation, the mix they're getting from uber eats, which is very accretive so, it is troublesome. starbucks has been dead money for two years.

if you look at some of the pressure they're getting and the things we heard about in labor for fast food in california, a lot of this stuff started with starbucks, and some level, it's something that i think the rest of the industry is kind of followed on, so i think some of this pain continues. i think this bigger setup is what i would have thought was what we were looking at for the entire consumer discretionary space for 2024, and it hasn't happened, so, i've been wrong on a lot of that, though we started to see the cracks in nike and lulu >> inflation is coming down -- when i say coming down, the rate of inflation is coming down, but inflation itself isn't coming down, which people need to realize. and it is the lower income consumer is feeling this most. but from a standpoint, is it a concern from the consumer that we're going into recession, no but they are having to choose where they're spending their money. right? so, if we don't want to eat out anymore, but we want to spending on groceries, they're going to have to make those decisions i don't think this is a bigger concern with the economy, but it is going to be a concern with some of the specific

restauranters. >> this is with an unemployment low -- >> imagine -- right. >> seriously -- >> am i in your -- >> cavern. exactly right. imagine what starts to happen if that were to tick up and we saw it last, the employment report up to 3.9. i think it's going to start to stair step i thought that last year, too, that was wrong, but it's beginning now. so, that's what's happening with record low unemployment. to your point, what happens if these things start to move higher, where do you start to trade down from, from the dollar stores and from a mcdonald's and from some of these other places? >> i'm glad that you mentioned sort of the loyalty programs, because i feel like the fast casual, fast food restaurants, they are doing things differently. before, they would cut price, the dollar menu, and that would solve the problem in a way in terms of getting traffic in, but now they are more particular in how they attract the consumer. they want them to order on the app and give you a discount. >> they are more surgical. they are better in control of

their consumer, and cmg is certainly -- they were one of the first ones i realize they are very different than domino's, but the loyalty dynamics are the same thing we're hearing over and over again and i guess, you know, what's a bit ironic, as we talk about higher wages for especially, you know, the minimum wage, isn't this the same group of people that should be doing better and eating out more often and it's a little bit reverse so, i think you had a major pull forward. i think pricing for a lot of these restaurants -- we've joked, giggled, lamented, frustrated about my starbucks, guy's almond latte it's gotten very expensive for him, and i'm sorry about that. >> you're not. you came out me with olive tree and you know it's garden, because you're the breadstick guy. >> i love breadsticks. >> tim's the guy there >> do you wear cargo pants -- >> 100%. >> cargo pants, dockers, uggs, whatever, crocs, whatever i can find >> let's get more on the landscape for restaurants with kate rogers. kate

>> i've got the cargo pants and the crocs in my vision here, melissa. so, value's been a huge focus, as you guys were mentions, for brands to start the year and big names have been warning consumers are potential ly pulling back mcdonald's has said that the lower income consumers were visiting a bit less, and in addition, they are expecting more affordable options than they've had in the past. star buc's ceo said during earnings and again at its annual meeting that there's no question that value is of increasing importance and you're seeing this, because cpi data, as you mention, continues to show elevation in prices at restaurants, particularly when you look at limited service settings, like fast food and quick service names. prices were up 5.2% in the last year compared to a 1% increase for grocery. and so, for this reason, you are seeing a lot of targeted value offerings, melissa as you mentioned, on the apps, from fast food companies right now, because they can bring you in they are access to your data, which is important, but one thick i'll mention, because it's

a trading show, when you look at the more expensive for consumer names, like the sweet greens, the cavas, those are the better for performing stocks. really interesting dynamic there. >> do you think just because they cater to a higher income consumer or are they doing things differently in terms of promotion? >> you know, i think it's definitely both. i know the digital and loyalty play for chipotle kind of in a league of its own at this point, but they are catering to a higher income consumer, and i think they're having to be a little bit less choosey about how they're spending money right now. >> okay, kate, thank you kate rogers. for more on restaurants and the impact of the consumer fighting inflation, we're joined by nick settia great to have you in this conversation in terms of a chipotle, you might think they are immune from this, are you seeing even within the better for fperforming

stocks, that consumers are trading down, maybe tickets are going lower, or people are ordering fewer things to keep their total spend the same >> so, we're seeing it across the board, and chipotle has been unique in they had the carne asada that helped in q-4 and has helped in q-1. remember, that was going over very unpopular, because it was too pricey a couple years ago, they had that now, carne asada ended in the middle of march. the chicken el pastor is going o over it will be interesting to see what happens to their transaction trend now that they don't have that easy compare that's really what i'm kind of a little nervous about around chipotle, because they're not in a vacuum of their own, right >> hey, nick, it's courtney here, thank you for being here so, we talk a lot about how mcdonald's a more low income and

you have a chipotle that is the higher income, but i wonder how much of this is transferable walmart is starting to get more higher income people going to walmart because they're trading down how much of that will you see some of the higher income people coming down to a mcdonald's, will that benefit them or people are going to stop eating out completely >> we haven't seen that as much yet. that's the big worry that i'm watching as we move to the second half of '24 lower income consumers is reall trading to grocery, because the grocery inflation has been so much lower than less rrestaurant inflation. restaurant inflation up 30% plus at mcdonald's and chipotle under 50k, you know, consumer, is going to grocery much more, because at least over the past, you know, since, let's say, the middle of '23, you know, grocery inflation has massively

underperformed restaurant inflation, so, you are seeing that tradedown it isn't impacting as much as of yet the middle income consumer, but that's something that we're definitely watching and it's one of the things that keeps me up at night >> nick, it's karen. so, let me ask you, what, if anything, do you look at a leading indicator to give you some insight to what we're seeing now so, what do you look at now to see what we'll be seeing shortly? >> i mean, this california price hike is just going to, you know, sustain that differential versus you y grocery. it will be interesting to see what happens in california, if we'll see more pressure on transactions in california, and if this leads to a price war, which we're already starting to see some glimpses of, we really just need olive garden to jump in the fray within casual dining, and we need mcdonald's and some of the other guys to get off just the loyalty focus a

little bit and it will be a full-blown price war, so, you know, those are kind of some of the things i'm watching to see if this ends up becoming a price war, which is going to, you know, potentially decimate some of the results in the second half >> do restaurants just eat that rise in minimum wage in california i mean, are you looking for a margin hit, or do they continue to raise price to offset >> i think a lot of them will raise price to offset. at least the bigger chains that are in position to do so chipotle, mcdonald's, they're talking about pricing, so, just sticking with chipotle, mid-single digit offset on a profit basis, dollar basis, even a high single digit actually does offset the percentage basis, as well, but high single digit price increase is pr pretty -- is a pretty big move on top of, you know, 30%-plus price increases. just menu pricing. since 2019

so, how that kind of translates in the second half >> hey, nick, sorry, guy is definitely getting ready to make a move here. how do you reconcile the macro the most recent retail sales number we got was better, but the segment, restaurants outperformed everything else we just got done talking about minimum wages that are better for effectively the segment, the demographic, and some of this target audience. you know, i know you're really spending a lot of time looking bottom up, but talk to me about that top down. >> it's been one of the, you know, big puzzles that we've been trying to solve across the restaurants, and not just me, everyone involved in restaurants, why we see so much weakness, particularly in january and february, and it's not concentrated to any one category, it's across the board from qsr, you know, to casual dining, to fine dining, so -- you know, numbers have been

really, really weak, you know, through basically through the middle of march. some of that was weather, some of that is seasonality, some of that is just normalization of spending habits post covid, this is the final quarter where we're going to see some of that normalization impact as we get into march, early april, some of that is, you know, some of the tax refund timing. but it's a question that -- we don't have a good answer to. yet. >> so, tax refund, that sort of a one-time boost to potential spend, nick, but looking out this year, what do you see as longer-term catalysts for this sector, if any is it a rate cut that will help the sector, or what are you thinking of? >> well, it's -- you know, there's such different business models, whether it's a franchise or company-owned, the different sectors are catering to such different consumers, it's very difficult to talk about it on a sector basis i do think that the names that

are going to outperform are the ones that, you know, in a environment where average check amount matters, they can do value and win while doing value, so, you know, domino's, for example, is doing very well at the moment, i think they're going to continue to, you know, regain some of that share they lost over the last couple of years. and i think it's going to be a past for multiple years ahead of them wing stop, same sort of positioning in terms of very, very high value scores, highly franchised models, so, they're going to continue to win, you know, texas roadhouse, we think casual dining, continue to take share, but a lot of the other names are going to struggle. >> all right, nick, great to speak with you, thank you. >> thanks for having me. >> i think, you know, when he said, basically, everybody in the industry is trying to figure this out, why does the economy look good and why -- weakness across the board from mcdonald's to fine dining -- >> well, it's one word,

inflation -- well, inflation is still a problem, but domino's, i mean, you can look at the stock, had a huge selloff, but it's coming back, 535, the all-time high back in november of '21 and you look at the quarter, it's a u.s. story, still the comps were much better for them, that's actually pretty significant. and margins were better. doesn't seem like a big deal, but 18.3% margins versus what the street was looking for was significant. so, this probably stick has room to the upside. >> i thought your question was interesting, courtney, we heard walmart is gaining higher income consumers, trading down. do you think that could happen >> well, that's exactly where my question came from, because we saw that from walmart. are you going to stop going to chipotle and go to mcdonald's? i don't know if it's the same thing, but there is an argument to be made there it's something to keep your eye on >> well, i'm sort of wondering, is this the sort of thing we saw post-pandemic, the money -- >> right, allocating it. >> so, we've seen maybe, i don't

know if we get to it tonight, tim's delta, just across the board, the travel space, cruise lines, airlines, things like that, hotels, is that where they're going? is that the same customer, though i'm not really sure. buff but i wonder if the money ises where. >> we've heard it in beauty, right? and i realize some of this is regional, but we've also heard it from some of the spirits brands, so, some of the higher part of luxury, but you know, buying an expensive bottle of scotch is a lot cheaper than going on a trip, so -- and it can take you on a trip but i mean, i do think you have a dynamic here where -- it is amazing what we're hearing and again, starbucks had annual shareholders meeting, they regular and occasional consumer, they talked about weakness and it gets back to what guy said if we're having this kind of concern about the consumer at full employment with rising minimum wages, it's extraordinary. i think restaurants, especially

fast casual, had one of the great moments in their history during the covid and the early stages out of covid, and i think that's something we have to consider in these comps. coming up, we're watching rh afterhours the high end home goods retailer just reporting earnings in the last hour. the details next, as the conference call is about 17 minutes in. plus, donald trump's new media stock continuing its surge. bringing a whole lot less revenue. more on the djt disconnect, when "fast money" returns this is "fast money" with melissa lee right here on cnbcoo so what are all those for? uh, this lets me adjust the base, add more guitar, maybe some drums. -wow. so many choices. -yeah. like schwab. i can get full service wealth management, advice, invest on my own, and trade on thinkorswim. you know carl is the only front man you need. (phone rings) oh, i gotta take this, carl. it's schwab.

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welcome back to "fast money. we've got an earnings alert on rh shares popping despite a miss on the top and bottom line. the company says they expect demand to accelerate with growth of 12% to 14% in fiscal 2024 the conference call just kicked off at the top of the hour the full-year guide in terms of the expected growth and the expected sales, a lot more optimistic than the guide they gave specifically for the first quarter. there seems to be a real assumption that it's going to ramp very steeply throughout the year

>> well, there was one headline that i saw that was revenue to lag demand which i don't know if that means they can't get it in fast enough, right? >> demand growth of 12% to 14% -- >> whole year. >> revenue growth of 8% to 10% >> what does that mean >> i don't know. what's demand growth >> i would think it translates to revenue >> i don't know if that's backlog. it's not a remaining performance obligation i hear that -- we can't make -- we can't make it fast enough to satisfy demand i don't know i think that may have been what turned the stock around, i'm not sure started after down >> right >> and traded up higher. >> i don't know. the demand growth number they gave for the first quarter was positive mid single digits and revenue in the negative low single digits, for the full year, it's 12% to 14% for demand growth and 8% to 10% -- the gap is enormous. i don't know >> i put a position on this name

a couple weeks ago a lot of it was based upon the strength of williams sonoma. rh did sit above that, in terms of their customer. i think the guidance on this name -- they had been through one of the worst periods after the greatest period, and the question is, where they going to begin discounting and promoting? i think the stock goes higher. i think the analyst community is going to have to follow through. >> low expectations, and they didn't disappoint. operating margins came in 9.1%, street was looking for 12.3% a year ago, it was 16.1% and revenue missed, eps missed the stock has been cut in half since its prior all-time high and people are starting to wrap their head around, when it starts from, lousy to -- really lousy -- >> terrible to just bad. >> we might be right there in terms of rh. >> they quoted to the idea that interest rates coming down are going to benefit them. if rates do, in fact, come down, which i think this is what they're alluding to, you're

going to see a lot more activity in the housing market as mortgage rates come down, which will ultimately benefit them i think that's where some of the disconnect is. it's just largely depend on rates coming down. >> well, that goes back to our conversation that we repeatedly have about the three dots, the three cuts expected, versus what will actually happen, if zero happens, a lot of forecasts at retailers -- >> it's good for them. maybe bad for other parts of what's been priced on, but ultimately, that's not just a function of inflation. that's a function of the economy, if we are at zero cuts. there's no question. >> it's good because the economy is stronger. absolutely >> you agree >> i do. and i saw somebody on the twitter yesterday said the exact same thing that actually rooting for no cuts this year, because they would -- >> was that you? >> no, it wasn't me. we said it on the show yesterday. there are a lot of "fast money" fans >> you can put something on twitter and then reference twitter. >> i wouldn't do that. >> you totally would >> so not would. >> you totally would >> liar. >> anyway.

a lot more "fast money" to come. here's what's coming up next the djt disconnect shares keep climbing while revenue doesn't seem all that impressive why do investors seem to ignore the metrics on the former president's new company? plus, the next move for crypto all eyes on bitcoin as another halving draws near where prices could go, and the impact on the etfs, next you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. ate. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about.

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we've got a news alert on some new additions to the s&p 500. >> two corporate spinoffs in health care are joining the s&p 500. the first one is a spin-off of 3m, it's going to be replacing motive care on april 1st, that's the first spin-off, and there is a ge health care spin-off, ge vernova, replacing dense fly cerona that's going to be moved to the s&p mid cap 400 effective april

2nd, but two major health care spinoffs joining the s&p, mel. back over to you >> kate, thank you meantime, trump media continuing to climb. the stock up 14% today and is up 80% just this week now the company is worth just shy of $9.5 billion, that's bigger than the likes of cesar's, u.s. steel, and even reddit but the company only reported $3.4 million in the first nine months of last year, and that's a small fraction of similarly valued names um -- it can go up for a lot longer than what makes sense, that's for sure. >> yes, absolutely to the extent that this is just a vehicle to support donald trump. couple of things i wonder, though are we going to see a 10k with thatfourth quarter they do have potentially an earnings release, or i'm

wondering, is there any chance that trump himself feels the need to get on the call? i don't know i mean -- it wouldn't be the most shocking thing in the world. >> right yeah, no, it wouldn't. >> yeah, fascinating on a price to sales perspective, i mean, this is beyond game stop, this is beyond amc this is beyond anything we've seen. and it will be and it's, of course, it makes a lot of sense that it would be, so -- this is not an allocation for an equity, this is an allocation for politics. >> which is why the david einhorn quote, anything can trade at silly >> silly is silly. >> yeah. >> why -- coming up, ge shares hitting fresh seven-year highs on a big call from wells fargo today. the stock turning into one of the biggest surprises of 2024. can this high flyer keep up the space? plus, crypto at a crossroads a big win for the s.e.c. and its

lawsuit against coinbase, we'll break down the impact on bit count, next. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. were you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. empower. what's next.

welcome back to "fast money. stocks rallying, closing near session highs. the s&p closing at a new record. the dow jumping 477 points and the nasdaq up about half a percent. the disney desantis feud coming to a close. the media giant agreeing to end litigation over its special tourism district in florida, which governor ron desantis moved to revoke last year. and shares of robinhood getting a boost. the brokerage firm unveiling its new credit card that will offer 3% cash back and j&j getting a pop late in the day. a federal judge ruling that the pharma giant will have another opportunity to contest the evidence that linked its talc products to cancer the move could disrupt a federal court case that consolidates 53,000 lawsuits. and the dollar making a big move against the yen, hitting its highest level against the japanese currency since 1990 this, as the nikkei continues to trade near all-time highs. cnbc's delivering alpha investor survey saying outside the u.s.,

40% of the investors are feeling the most bullish on japan. and its markets at this point. at 33, 34-year highs what do you make in this move, especially as there are threats from japanese officials about intervention >> it's a little -- well, first of all, it's a bit ironic as they get into this period where they've announced they will no longer be targeting negative interest rates, even though they really haven't done a lot other than talk about it, that you wouldn't see the currency rally. this is a dynamic that actually should be yen positive, and i think it will be, but it gets to a place where you can see where centralen banks or, really, actually treasuries in various places, have to defend the currency after there's been such a period where they know they were betting against their own currency i think it's fascinating i think japan is going to go higher, even though it's one of the great export markets it was kind of the original china before china was, in terms of being the great exporter to the world, and a weaker yen is very good for exports. >> do you see this like the

pound in '92 >> in that it's now -- i don't i don't. but the speculation against the yen has been cartoonish, and i think we've talked about it on this show. crypto's coming off today, but bitcoin about ether are still on pace for seven straight months of gains. with ethereum heading for its best quarter in three years. our next guest predicts the coins will benefit from next month's halvening. great to see you >> thanks for having me. >> you're forecasting bitcoin to $150,000 in the next year or so. can you six explain that math? >> yeah, so, it is just math we look at the fair value today from the law model that gives us round numbers around 50,000. the having occurs in three weeks. what a having does, it cuts the block reward the amount of money that's given

to the miners to secure the network. if those rewards were to get cut in half, as they do, many of the miners would struggle. so, historically, what has happened, the price rises, the fair value rises, so, that would push 100, but this time, it's a little different in that instead of just block rewards, we get transaction fees, because of inscriptions so, say the fair value only goes to 75 this time, then post-having, you get a lot of interest in the asset, a lot of people fomo in, and we normally go to about two times fair value in the cycle, so, in the last cycle, fair value was 30, we got as high as 68, 69. this time, i think, probably two times, because there's less leverage that gets us to 150. >> so, what's that path like to 150? i know last summer you called for a blowoff top in 2024 and we haven't seen that.

is that still to come before we get to that 150? >> so, the big move happens post-having. the having occurs sometime between april 20th and april 21st, most likely. so once that occurs, then you start to get an increase in demand, right, from the etfs and other people interested, but the supply of new coins goes from 900 a day to 450 well, think about it, if there's more demand than supply, price has to rise, so, the price starts to rise it starts to become more parabolic towards the end of the year, and historically, about nine months after the having, so, sometime toward thanksgiving, christmas, we see the peak in price before the next bear market >> so, mark, bitcoin gets the headlines, microstrategy, coinbase, what are things out there, equity or other coin,

that you're looking at that nobody's talking about >> you know, it is so hard, because the regulatory regime has been pretty restrictive, i mean, there are the mining companies that secure the network. they've had a really good run, so the valuations are a little tope toppy, but we do like those businesses but there are component companies that make the machines that secure the network, amd and nvidia have been a story, a proxy to play, the crypto markets for about six or seven years, but again, they're at valuations that are tough to stomach. there are a lot of really interesting productsand new tokens in the private market that's where we traffic at morgan creek digital 80% of what we invest in are private companies, and only about 20% are in the liquid tokens, but we like things like ethereum, we do like solana, we

like avalanche you can go down a little lower on the capitalization scale. bitcoin is the king. it is the dominant token it is a better form of gold, or digital property now, as michael sailor calls it, so, i do think it will be the best, but the law of large numbers comes in. i think it can go up 10x from here easily over the next decade, but i think some of the smaller projects will go up orders of magnitude more, just the law of small numbers >> for the 20% and the more liquid tokens, i'm curious, do you just buy and hold -- >> great question, melissa, and we're a venture capital firm, morgan creek digital, so, we're not a trading fund, so, we do buy and hold or huddle, but we will sell on occasion. we sold a bunch of our solana two years ago when they ran into problems with the network, we

sold two-thirds of it, thankfully, we didn't sell off, because it's done well we sold three-quarters of our coinbase stock when it went public and now we hold about a quarter of it, and we think big things are in line for coinbase, that's one i forgot to mention. we like coinbase a lot so, we do hold mostly as opposed to trade great question >> mark, great to see you. >> great to be with you. >> relaxed and casual these days mark, thank you. see you soon i don't know, karen, you have a position -- >> i do. >> you just -- >> i just own it, however, it is really not so tax efficient, so, i do end up having to sell some to pay taxes >> we don't hold bitcoin i do think that you could continue to see this frenzy, like, you're continuing to see this risk on rally and i think bitcoin is a good example of that, the higher the price goes, the more retail investors want to get in, which is pushing the price up further

i don't think the rally is going to end in the short-term, but i don't know, the whole idea of the halving, i don't think that's a reason to buy into it i stay out of it, so, it's purely speculative in my mind. if it's something you want to do, more power to you. coming up, one industrial stock making quite a run this year the name up more than 40% in 2024 could it be a blue chip bestie for your portfolio we have answers next. and all march, we're celebrating women's her story most here's our own julia boorstin. >> gender gaps in the venture capital city are still massive in the u.s., wofemale founders secured just 2% of all venture capital dollars, while co-end founding teams secured 21% so, over three-quarters of all vc dollars go to male only founding teams for women's history month, i'm

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welcome back to "fast money. ge shares hitting their highest

levels in nearly seven years today, after wells fargo upped its price target to $200 a share. that's 11% above today's close ge shares already up 41% in 2024 it's the fourth-best performer in the s&p this year does it have the juice to keep the impressive run going tim, you had been in this name at one point in time >> i'm afraid this is a case of sometimes selling upside calls, you think you're a genius after a big move, and i got called away probably 40 bucks ago in the stock. and larry kulp deserves a ton of credit this is a guy that walked into a disaster, where they had to refocus the business, there was certainly, i think, some acquisitions that were either questionable or didn't make sense. they've spun off assets, they've consolidated in key areas. obviously getting back to their core knitting and certainly that core knitting in the industrial space is where you want it it's probably going higher, given what's going on with industrials, but i'm not chasing. >> see what's happened to ge over the last couple years, probably mired in the $40 change

and you see where it's trading now. this is what boeing can be a year from now, when they figure out the issues that they've having -- >> you think i'm not going to say it's going to triple -- >> spinning off businesses -- >> boeing at 190 and change could easily be, if they figure things out if the headline risk goes away, which it will, this is a stock we're going to be talking about the nidmid 240s, 250s when ge figures out, you see how hair trigger things are? i think boeing is the same thing. >> it took awhile for that to get going. can you imagine if larry kulp was the new ceo of boeing? but to tim's point, kudos to him, there were no sacred cows, everything was on the table, and i think you just have to come in like that to undo -- >> outsider. >> a multi -decade, too

the question is world is asking, shareholders are asking, should we wrbring in somebody gold. coming up, the metal musings reexold, nt. mo "fast money" in two

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welcome back to "fast money. gold's rally keeps on running. it is up almost 7% so far this year, hitting a record high again today, but it wasn't until recently that gold miners got in on the rally the gdx etf bouncing back this month. could it be a golden opportunity? let's talk to michael baffis good to see you. we like to play would you rather here would you rather gold or gold miners because it gets at this question of the underperformance that we've seen until very recently of the gold miners >> yeah, it's an interesting time right now thank you for having me. markets are at all-time hikes right now, and it doesn't even feel like that i think that's part of the reasons why the hedge assets haven't moved very much. and you're seeing all -- you know, sort of get returns, but everybody's focused on the small subset of companies that are driving all these markets higher you look at an equal weighed

versus a cap weighed weight of return, it's about 50% equal weighed on the s&p 500 in '23, and so far in '24, so, we're seeing the hedged assets, always a good part of the portfolio, and important to the allocation, but at the same time, no one's paying attention to it, and that's probably why you're seeing them struggle as they have >> so gold or gold miners? >> look, i think gold is more of a hedge. we have gold as a hedge to many portfolios i think i would pick that one over the miners, just because it's more -- it fits into more of an allocation model, rather than just picking individual securities and individual, you know, drillers who mine the gold >> michael, it's tim thank you for joining us you made a point on the market's move, but really, a lot of the market hasn't moved. i think if anything right now, i'm happy to say that i think a

lot of the sectors that were underperforming, i owned and felt silly about, have actually moved a lot. >> right >> delta's up 50% over, you know, kind of the last 60 trading sessions, citibank is up 63%, industries are at all-time highs, you know, i think the list goes on and on for real economy stuff. and i guess the question i have for you, do you think that stuff has run too far? that's really the question we all know the nasdaq's had a big move >> earnings are strong right now, and if you look at inflation has slowly started to come down, you're most likely going to see rates come down sometime soon, so, at this point, you want to be in anything but cash. as rates come down, as thee consumer and all these other real life names continue to grow, you're going to want dividends for them they're the ones that are growing their earnings they're the ones that continue to grow cash flow, grow

earnings, and while you say that, a lot of people don't even focus on it right now. so it's just such a tech-heavy nasdaq-focused move, i really believe these laggards who have outperformed, they have -- they have more room to grow, i mean, we're pretty cautiously optimistic, assuming, you know, nothing crazy happens in the world or with the election, i mean, i think, you know, elections have been around for many years, and somebody's going to get voted in in the first tuesday in november and we'll move past that, it's more important to look at the earnings, the earnings growth, and look at, you know, where's the consumer spending their money? where are they buying and where's the buying power coming from for all these companies >> michael, in the precious metal space, gold's at an all-time high, silver is half of its prior all-time high. do you think there's a catchup trade there? i know a lot of people believe that >> there may be, but again, i like to just get a basket of

these securities, get a basket of these hedges, where instead of just picking one trade and possibly being right, possibly being wrong, diversify the hedged as sets and the alternative investments to where they become part of the p portfolio and you're in this for three, five, seven years we all know when the markets do get choppy and when rates assume they fall, a lot of times the metals outperform, especially in that kind of rate environment, and we're mostly likely going to see it coming soon >> michael, thank you. good to see you. michael bapis. >> thank you, all. >> all right, so, i'll give courtney a would you rather, a spin on the original i gave to michael. which is cash or gold. he said anything but cash. >> okay, that's fair i'm not, like, advocating gold right now necessarily, but we do have a portion of gold in our portfolio.

i think it has a space cash, i think -- if rates come down, it's not where you want your money it's great you're getting 5%, that is going to come down so, i'm not saying put your cash in gold, but if you make me pick, i choose gold. >> thank you for playing the game up next, final trades. welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to.

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encore energy, america's clean energy company, now in production in south texas. energizing america with reliable and affordable uranium for nuclear energy fuel from our environmentally friendly extraction process. encore energy. final trade time tim? >> j&j the news is a chance to change the narrative. >> karen >> macy's. i think pressure is building to do something >> courtney?

>> iyh i think you are going to continue to see strength in health care. >> guy >> fun time tonight. >> wasn't it >> totally >> you don't believe that. clf. you see the move we're having in these resource stocks. >> thank you for watching "fast. see you tomorrow at 5:00 "mad money 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 and i promise to help you find it. mad money starts now. hey i'm cramer. welcome to mad money. i'm trying to make you money. my job is to teach you contests, call me. tweet me. we have some great news from cnbc delivering out a stock survey today. a majority of responders believe the market has gotten over heated and we