no meeting until late september. no important earnings other than nvidia, two and a half weeks away. no-man's-land is not the best place to be. but it's also not the worst place to be. that's kind of like, where we are seasonally. i think. we've been here before. >> yeah. >> do it every year. >> get even more context on this with these two tonight on "taking stock." meantime, s&p finished the day higher. that does it for us here at "variety." "fast money" begins now. and live from the nasdaq market site right in the square heart of new york city's times square, this is "fast money." on tap -- what a week it was. big losses to big gains. seeing a big spike in volatility with more key reads on the economy coming next week where do stocks and your money go from here? we get answers. plus, walmart and home depot, and retail. oh, my.

the first big hits coming whether the american shopper is really slowing down. plus, is it time to go big into big oil? the chart master making his case for one oil giant and, ooh, another dismal week for intel investors. is there any reason to own intel stock? talk about that. how to trade the debts. all that and more over the hour. hi, everybody. i am brian in for melissa lee from the studio in times square. on your deck tonight, courtney garcia. carter worth and tim seymour. welcome. start with your macro money today and this week. not tv hyperbole. it was, indeed, a wild week. here's a random but interesting thing for you. this week the s&p 500 posting both its best day and its worst day in two years dazzle your friends with that at a cocktail party tonight. nice gains midweek and today we

did end a little bit higher, but not quite enough to offset what happened at the beginning of the week and get this, the s&p 500 ended down 0.04%. basically the gpa. russell 2000, decliner. falling 1.4% since monday. but this week was this week. focus on the future. next week. we've got more big data points on deck for the federal reserve got cpi and ppi, inflation numbers out. retail sales. got another read on jobless claims. we've got consumer sentiment and, of course, still lingering questions about whether we are really done with fears that the yen carry trade unwind could slam stocks again. six of the magnificent seven down again this week, only meta able to post a gain. nvidia, now down 20% in a month. tesla has lost nearly a quarter

of its value in about 20 trading days. do you think most of the damage has been done? >> well, thanks for joining us, brian. nice neck tie, by the way. friday afternoon. and -- look, i think it's a very defensive posture for the market. you're a big kansas fan. carry on my wayward son and more to go. i think the correlation's to certain asset classes are unquestioned. i think we should think about, rotation is good and bad word for markets that want to see breadth that tends to be positive. i'm sure carter has a great view on this. the concern i have, this was a week we really lost leadership. we lost leadership of semis to the nasdaq. lost leadership of nasdaq to the s&p. let's see where we go. there are certain parts of the go, go trade that had tremendous recovery. so obviously semis up almost 12% off the intraday low. nvidia almost 13%.

muted, if you ask me. lilly, had great numbers and a great recovery up over kind of 22% often those monday lows. that's the story of the week. there's no question we have more yen strength to wrestle with. more degrossing. hedge funds, market participants i think starting to understand where they have to bring risk down a bit. doesn't mean necessarily related to the macro economic plan. and what we're going to get next week obviously. a lot of data. you have to be worried about retail sales. >> fair enough. correct you on something for viewers. listeners on the radio, tim. i'm not wearing a neck tie. >> that's what i meant. sorry. that was sarcasm. >> that sarcasm, went part the point of no run, to quote k kansas. what a bizarre week it is. shows confidence that's not currently existed in the market.

one data point essentially -- give you two. japanese yen carry trade as well as nonfarm payroll number could turn us over. tim mentioned completely shift leadership. prior had see a rotation out of the highest of high fliers into more small cap leadership and thought that was going to be the narr narrative. you saw that trade reverse itself within of matter 24, 36 hours. fact of the matter need to get back to the cadence of the fed. data dependent and the fact we're having such volatility around a singular data point raises concerns for the market to continue to march higher. i think us having this singular spike in the vix. don't expect 65 to continue, clearly. seeing volatility to me underscores the uncertainty currently in the market and we will likely trade and move from data point to data points, couco

court. >> courtney, getting questions about the fed or about the yen carry trade? or maybe c., both? >> both. i think most clients had no idea what the carry trade was until this week. that's what we're talking about. we saw last week unemployment tick up. markets down. the market is was it due to the carry trade unwind? good news seeing markets recover this week. more indetective volatility is due to that trade unwind as opposed to data going into recession. if we continue to see economy deteriorating recession upcoming, worse news for markets going forward. this is more of a technical one wind and nothing to be concerned about other than possibly a short-term buying opportunity. next week more date-to-on the economy will be indicative what this means going forward. keep your eyes on that. >> i think key is volatility. you started with that. sue ber latives. weekance months, biggest move

all this week. we know leading up to this give-back of the past three weeks, this sell-off of some 10% we had gone one of the longest stretches in the past 15 years since the financial crisis without a 2% down or up day. now getting quite a few. what that is indicative is is a transition. right? a per spichbt bear market you don't have volatility. going down. volatility happens in transition moments. when a market is bottomed like the "09 lows, free-throws of reversal or topping opinion this kind of volatility, spike in the vix, big 2, 3% up, down days back-to-back is live a fever. symptomatic of a problem. it's not a bullish thing as all. in principle the hope was, oh, all money's going to come out of these magnificent seven but go into the small cap. small cap gave it back. you said. very little to rely on.

earnings basically out of the way. a few more. fed's kind of out of the way. cutting? hoping for that? cutting, talking about cutting and all of a sudden the market doesn't like it. the market's not hit its bottom. >> back to you. should have had clues. going into monday a use a stat with monday we had the three worst trading day of the year in a nine trading day span. july 24th. last friday. and monday. it was like -- it was like a boxing match where nothing happens. you no gentlemen just kind of throwing jabs for eight, nine rounds and all of a sudden, boom, boom, boom, boom, boom. >> that's what happens when you go from a complacent moment to something other than that. the.is when transitioning, starred or end have volatility. knew relationship, ending a job, always at a moment of transition great throes or spasms. this is a transition. the bottom, that would be weird. >> spilled over into the fixed

income markets as well. same volatility we would be accustomed ltz to seeing over history. seeing it. volatility across asset classes and lump in crypto assets, new entrant you're seeing volatility across the board as pertains to risk assets. tough to have a continued bullish case when you're seeing that. that is speaking to the unease. tried to have a rotation, shift in leadership and we're getting correlation approaching one as everything rolls over. >> bitcoin on the board and just did, don't quote me on numbers. i'm not looking at them now, tim, but about a $20,000 swing in bitcoin over a couple of days. so the volatility was not limited to equities or to option spread, vis-a-vis the vix. to me that was so striking about

really these last, this last week and a half. >> well, i think we saw that the higher risk asset classes and certainly the last strong hands were not hurdlers. no question with the speculations in a handful of asset classes. how do you explain gold was sold on the day when it's every reason you line up to buy gold? i just think it's indicative of risk off. doesn't mean it has to be whole sale and a lot of different ingre ingredients. it wasn't purely bank of japan coming in but triggered a bunch of dynamics around technicals of the market. everybody over assessed one payroll number, everybody, and you know, it's not just one payroll number. there was economic leadup to these people looking at a terrible payroll number in the context where we've been saying it's now a hard landing. you have a dynamic where carter's nailing it every time used the word complacent. the market we had.

passive/aggressive won and probably win at some point again. meantime you have a dynamic we're also in the middle of an earnings season it's not as simple as rewarding hyperscalers for spending more money on a.i. i actually think we're hearing over and over again not just about the consumer more about where we are at peak margins. i think that's really the issue for the equity market as much as anything. if we have a soft landing that is debated right and left, the reality is that i think you're going to see minimal couldn't side to this market. right now the market doesn't know that. so, anyway, it was a fascinating week, but i would stress that i think it's a week where we have to watch that leadership. that was so critical to the market going higher. you won't know until it's over. so far the trend op the nasdaq to s&p and the semis to nasdaq is not good. >> for all the hodlers you say hold on for dear life out there. not wearing a hat.

if i was i would tip it, courtney, 20,000 dollar swing, it is confirmed, 69124 to 49 and change. that should -- $20,000 swing, in the price of one of your investments, in, like, two days. >> yeah. i think that ultimately is a fear and risk off rally. everyone waiting for the second shoe 20 drop and seeing cash levels at such highs. saying there is a recession coming. waiting for some sort of bad data and hanging on the unemployment report that came out, this is it. added selling pressure seeing things go down confirming that bias and getting additional selling. i don't know if this is going to be long-lasting, and i don't know if we'll will until we get ppi, cpi and retail sales numbers. important. it the consumer holding in there and whan does the economy look like? >> amazing transition. where we're going. bitcoin calls it technical

intestinal fortitude, carter. since the economy may drive the fed, of course the fed may then drive stocks, talk about all of it. on set, rsm chief economist joe, and -- we have to stop meeting like this. first interview 20 years ago. talking about that downstairs. i don't know what that says about either of us. either way, courtney's point. retail earning, cpi, ppi. you watch it out. >> yeah. >> it's game time. pick one, most important, what would be it? >> cpi. go deeper into the report at this time. market's going to ignore top-line numbers look like they have several months. more debe benign inflation. if we continue to see that improval and housing consumption, the fed's going to feel more comfortable go 2%

inflation target and onus will shift to, hey, the bias of risk moved towards employment and we need to start cutting at every meeting. >> what we're saying is very important and probably reiterate. effectively, again, don't want to quote you, back to you. tell me if i'm wrong. are you saying to ignore the headline? >> yeah. >> number? >> i am. you're going to get a 0.2. a weak 0.2, but what the fed's really focused in on is, if indeed that inflation, that stemmed from housing, is really turned over. if is it wean not worried about inflation. we're worried about how quickly the labor market will slow. we think the labor market is going to add about 120,000 jobs on average through remainder of the year. needs a little pressure to upside on unemployment rate but nothing that will break the economy. >> thanks so much. you mentioned the owner, equivalent rent. draw down there. i argue that -- my argument

would essentially be that that portion of the inflation reading is a lot slower moving. not getting rents refigured on a month to month or day-to-day basis as the other issues. is that enough to mask volatility in other areas of the cpi reading? >> wait of housing is over one-third of the entire cpi. it will offset not only the base year effects but that month to month fall and elsewhere why policymakers and economists are focus and than like a laser as we head into the fall, because we all expect the economy, hiring and overall inflation to continue to cool. back to a much more sustainable rate. in other words, you like to throw around the word "normalization." >> industrial commodities collapsing. nickel, zinc, copper, down 20% since may. speaks to what's going on in yields. the market is ahead of the fed. >> let you talk about all the terms.

right? vudu ie voodoo, not my thing. anybody who entered the business only really knows your interest rate policy lower for longer. the shocks of the pandemic finally cleared the deck. we finally had a recession that cleared the market. now we'll have no more leverage. higher interest rates longer. higher inflation. higher rates. structural changes around how we acquire goods from the external sector. therefore, the areas of the market that have relied on massive leverage like we started to see unwind this week will all have a day of adjustment ps commodities, oil, private credit. it's going to happen because the economy will get a lot more sturdy or less fragile, and in order to do that we have to go through this transition. going to take a couple years. unfortunately we'll probably have another weeks like this week. look, a carry trade that 4.4

trillion. leverage that up 30 times? starting to unwind early july. probably a couple more weeks, a couple more stronger, difficult days. but in those commodity areas that's one of the risks around the market going forward as that leverage gets, well, unlevered. >> tim -- >> hey, joe. this is kind of a philosophical question. economist fear, it's important, and seeing as all we are is dust in the wind, i think we can get a little philosophical here. think about paul voelker. breaking psyche of inflation. why does the fed need to move as quickly as i think you think they need to move or is going to move? as consumer, things going up. inflation but everywhere i turn whether my parking garage, whether my local deli, whether it's my ins insurance, mortgage, forget the mortgage. even maintenance on housing and

whatnot. to me the whole idea of inflation is something that becomes systemic. i feel it's still systemic and no rush for the fed what's wrong with a little recession? is that crazy? >> it's a recession we don't need to have is what it is, i think, tim. look, price level the not going back to 2019 levels's in order to do that we'd have to engineer a pretty steep recession and pretty high unemployment rates. my sense is 2.5% pce is functionological priced stability. therefore the reason the fed's going to move they want to preserve and protect the soft landing. you guys out there who trade, to be honest are at the front lines of this. if we have a recession traders are hit the worst first. then you get the american household, precisely down market workers who tend to get laid off. well, i hear what you're saying, tim. you shouldn't fight the last war. this isn't voelker's inflation war and no need to choke inflation out of the economy and create a massive wave of

disinflation. to me it's just, just doesn't make sense. trade-offs are worth paying but i get your point. >> joe, love having you on. >> thank you. >> and get ready for a big week next week as well. guys, a news alert. starbucks attracting attention of a hedge fund that like to, shall we say, shake things up. >> good afternoon. starboard value taken a stake in starbucks according to a report in the "wall street journal," the size of the position and the exact demands could not be learned. this, of course, comes shortly after fellow activist elliott investment management took a stake in the coffee chain proposing a settlement that would invoft board expansion and governance improvements but allow kre laxman could keep his job. it starbucks fault par quarters of steep declines pressuring the stock this year. elliott starboard and starbucks declined to comment.

sharing ticking higer in extending trading. almost 3%. >> all right. starboard in. pippa stevens, thank you. tim you got a take on starbucks. what about the move by starboard? >> yeah. great to see it from a trader's perspective obviously. did buying. the extent of management issues a problem forecasting a core business on some levels is a very sophisticated business. that's concerning. macro head winds and i'm not sure they can do a lot about activist funds. happy to see them push change. chaos in the stores and c suite. ability to certainly try to put the brakes on where margins have pulled back dramatically. but i also think you had a unique and almost a once in a lifetime dynamic for starbucks in terms where e thcould raise prices and a sweet spos of covid and post-covid reopening. something investors have to wrestle with.

i like starbuck, own it lower. not greedy but a six handle. >> wow. going to be a six handle. something vor a 77 and change stock -- a ways down. all right. we are just getting started here on this friday. coming up on "fast money," cho pate li chipotle shares sizzling. and one big oil stock looking really good right now. >> announcer: you're watching "fast money" here on cnbc. we'll be right back.

moo. welcome back to "fast money." just when you were hoping gasoline prices to go back down -- bad news for you. crude oil having its best week since march. up nearly 5% since monday. with oil prices just kind of frustratingly hanging around mid to high 70s even low 80s for a long time. chart master says, one company you know may benefit carter worth with a look at exxon mobil. >> before we look at the charts. said it exactly right. oil sitting here doing nothing.

>> no it's not. printing people money. >> as a prit per barrel. drops to 70. buyers come in, high 70s, a pair of twos. look at exxon. got three identical charts and then then we'll look at a relative chart. a big winner off the covid low. after almost a -- spent the past two years consolidating riding sideways doing nothing. another way to annotate it, second chart, call it a range or descending triangle. third chart, some call this a cup and handle. you see this here on theed they iter iteration. the point, this setup after any big prominent move is long and duration and magnitude. after equally important rest, typically the consolidation resolve in the direction of preceding events. not always. that's the bet you make. big up, big rest and in principle setting up a breakout. final chart all about alpha.

relative performance, just now starting to turn. that's a function of, of course, how it's doing relative to the s&p, but has all the elements of a bayish to bullish reversal. fin finally, those who care about dividends, a company paid uninterrupted dividend 140 years back to 1892 and raised it. 3% plus, get it here. dividend is good. >> actually, to jump on to that what i really like about them, brent crude prizes in 70s or 80s and only needed to be in the 50s for a dividend you mentioned to be valid. something to look at here. they had really -- balance sheet consistently stronger especially after covid levels in 2020. demand for energy looks strong. especially artificial intelligence looking forward. a company absolutely you want to look at and take as a buy here. >> tim, listen, kind of my world. i don't want to go into the politics of it.

a lot of people get jumpy when you talk about oil. remember hubbard's peak 30 years ago? talking about end of oil. we're using 102.5 million barrel as day. there is not one organization in the world, no the even iea, the most bearish, says we're going to use less oil within 10 to 20 years as we are today. even if you want to get rid of it, the reality for crude oil, hate it or not, carter's point. it's not going anywhere. >> no. and yet it's a sector that's seeing the -- seeing the debt. looked over abyss in 2015, 2016, growth at all costs. even exxon had to look several in the mirror. fact of the matter numbers in the second quarter they beat on free cash flow. that's the story. also you said, in terms of where the next barrel of oil is found, it's still very relevant and they're stake in guyana is something, most exciting oil development in the world. they have a lot of optionality

there. a big fight possibly going on. between that and the pxd acquisition a lot to like for exxon and look across the sector. about the foundation of free cash flow. the companies are run differently and a handful run as well as ever been run. >> and pioneer national resources deal adding 1.2 million barrel as day production in high premium base. folks about half way done. don't worry. a lot more "fast" to come. coming up next. >> announcer: revving up and sizzles higher. uber andchipotle. two names that could go on a bold run. what this could mean. right after this. and intel in dire straits. the chipmaker closing out a fourth week of losses as the walls close in on a.i. dreams. any hope for a turnaround in

this semi stock? next. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com ♪ something amazing is happening here. data is bringing creativity to life. that's because cdw showed animation studios new ways to maximize their infrastructure, then built a flexible dell technologies data solution. more automation led to greater efficiency, which means creativity stays the star of the show. make amazing happen. dell technologies and cdw.

welcome back to "fast

money." get to your call of the day. bank of america securities naming uber and chipotle two of its newest top picks list. they added both stocks to high conviction u.s. one list of favorite stocks. weren't the only ones. bank of america slapping home builder nbr, northrop grumman, renaissancere and one off the list. named removed include dell, micron and seemed air. what do you make of -- they like it. now kind of really, really like it. >> yeah. >> really, really, i really, really like you. >> i really, really like the uber call. if you look at the likes of doordash, similarly positive numbers out of there. kind of re-invented themselves and expanded into that delivery and away from just a pure play type of ride-share situation, a

big moment for them and strength there. concerns about the consumer, ability to stand, concern as treating drivers. concern about the consumer and various verticals i think offers a bit of diversification. i like that call. >> tim, came on smg. cho chipotle. >> a take largely wrong the last few years. i don't love the multiple. the last quarter number's, traffic list fantastic. margins over 28% and the view is that they're going to hold them at least north of 25, which is unheard of according to the analyst community for someone of this kind of scale. i think you do have headwinds for the industry. i think cmg is prove between loimty, margins and growth margins continue to be a better performer. some of the price action we saw it going into this monday fall it's now 17% off of its intraday

low on monday. and, yeah. report add couple weeks ago. those numbers were fine. back haft lf of the year has challenges. wasn't chasing it before. not chasing it now. >> well said. coming up here on "fast money." intel shares down again today. the embattled stock now down more than 40% in the past month. we're going to debate whether or not there's any reason to own intel, now a teenager. plus a pair of marquee retail names headlines another big week of earnings ahead. what to expect from wellcome welwellcome -- walmart, home depot. the moment of trade. >> announcer: follow the "fast money" podcast. we're back, right after this. why do couples choose a sleep number smart bed? can it keep me warm when i'm cold? wait, no, i'm always hot. sleep number does that.

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follow every moment of team usa on the network that brings you legendary speed and reliability: xfinity mobile. with xfinity mobile, you'll have the most powerful mobile wifi network with you on the go with exclusive access to speeds up to a gig in millions of locations nationwide. and right now, xfinity internet customers can buy one unlimited line and get one free for a year. get the fastest connection to paris with xfinity. welcome back. just getting caught up stocks closing friday a little higher across the board, but not enough to finish higher on the week. although, face it, encouraging after monday's violent rout. dow at 51 points today. s&p liming a half percent. nasdaq up 85 points. again, not enough to get us back

to where we started but pretty darn close. not good news for a couple thousand people in michigan. news today. stlanltous, parent company of jeep, ram and others, dropping. laying off 2,400 u.s. factory workers discontinuing production of its older version of the ram 1500 pick-up truck made in warren, michigan. tough time there's. netflix shares getting a boost after the streaming giant announcing it will partner with cbs sports to bring two nfl games to its platform on christmas day this year. part of a three-year deal. carter, not only do you have to have 47 devices to find the football team you might want to look for or just give up and enjoy your family on christmas, but you are a buyer of netflix? >> i like it. one of the big names yet to really take out its prior bull market high. so it has 2021 high. go into the 2022 bear market.

s&p drops 27. nasdaq drops 37%. netflix still has yet to recoup that level. a you think having sold off to the 150, it's going to bounce, and do just that. >> thinking, tim what they should do. split a game. start a game on one device and then you end on another channel and another device. i think that's basically the way it's going. i don't think that will be taken up. that said. >> let's do t. nfl, netflix, cbs. got to be a play here? >> look, i think netflix, currently got the technical, fundamental call in terms of free cash per share. these guys are generating significant until far ahead of everyone. in this market it is actually relatively defensive. although i think you might get this one lower i think the price action is i indicated even with a bounce at 150 day. >> funny. because i work in tv people think i know how to work tv apparently. i get friends and family calling me, how do i find the bills' game?

like i'm supposed to tell them. use the firestick. anyway, move on. all right. investors gearing up for the start of retail earnings next week. headlined by a couple of upstarts. home depot and walmart. overall analysts expecting top and bottom line numbers to improve for both stocks, quarter on quarter and year on year. two very different tales for the charts. so far this year walmart crushing it. up 30% this year. home depot, courtney, just about flat. but this week, numbers could change a lot of things. >> absolutely could. you're seeing this for a reason. look at wrmalmart bringing in income across all consumers and continuing you have a lot more non-discretionary towards purchases. seeing higher margin businesses like advertising, third-party fulfillment growing faster than the core business. actually well positioned in an environment where the consumer remains stretched.

likely going to continue to do well. they have a high bar. almost 30% for the year. any miss could be a bad thing but all positioned now. >> it is a high bar. you point out. been a great winter year-to-date. the action amazon postearnings, costco's pulled in a bit. two charts to put it in context to show how impressivae it's been. walmart up against an internal trend line since the '09 low. day-to-day basis gapped up last two quarterly reports. it's very hard to get that third gap. >> what does it mean? up against its own internal trend line? >> look at a long-term chart. not shown here. if you look at that chart from the '09 low there's a trend line if you're ascending underneath price, but also an internal trend line above price. every time we hit it, see it there. failed to the penny. that goes back to '09. red arrows annotation depicts

something back to a different level. >> speak to home depot. housing market. we've seen a recent pullback in mortgage refinance rates and won't see it in this quarter per se. may be a tailwind going forward. terms of a stock without the same perform, add walmart but a bellwether still atop its game and may have a catalyst going forward, i'd look there. >> thank you. by the way, folks we're not done with live programs on cnbc today. right after "fast money," you've got cnbc special "taking stock." mike santoli, josh brown and many others. right after this fine program. 6:00 p.m. eastern, 3:00 p.m. pacific. like, 4:30 p.m. in phoenix or whatever time zone they're own today. coming up, a winner and a loser. highlighting the very different moves in both intel and trade desk today. really talk more about why these

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listen, i don't want to be a buzz kill on intel. every day seems to go down. radiohead song, you do it to yourself. chipmaker dropping almost 4% bringing loss to the week to 8%. this marks intel's fourth straight week of losses with the stock trading near its lowest levels since 2010. intel, unable to catch a break after disappointing earnings, returing announcement a few weeks ago. restructuring. supposed to get $8.5 billion in -- not for me, i'm editorializing when i say that. i don't think there's any investors unless short selling that can use any other word for intel? what the hell's going on? >> i think the travel and timing, been an a.i. laggard and

falling behind. seen in the markets the last week fear of, where the growth trade is. seeing a.i. trade is coming back. people worried what's going to happen with the economy moving forward. you're seeing that in the a.i. trade in general let alone a company behind in the a.i. trade. that's a problem for them moving forward unless they can change the story here. >> what i worry about, carter, and i said this the other night on the show but i want to hear your view. which is doing this long as i have, this is the kind of stock somebody at home, like, oh, intel. it's got to cut back because it's stocks, they don't got to the do anything. >> right. so what, u.s. steel. alcoa. means nothing. what we know is, it acts poorly. heavy volume dropping and gapping. been an underperformer, remains an under performer. tempting to say it's cheap. try it.

just don't dough it. >> don't do it. >> okay. topping the tape. a digital ad platform up 13% today after upping revenue guidance. the company sees sales of $618 million third quarter and that is well above estimates of $604 million. trade desk recovering losses from two weeks ago. when disappointing ad sales at youtube sent shares to their lowest level since april. so it fell a lot on disappointing numbers and rose a lot on better numbers two weeks later. help me understand. >> well, first of all, they are taking market share in a highly fragmented connected tv market and a must-have brand in flat form. think about what may be going on overall in the media and streaming space, one dynamic, but big brand advertisers want the trade desk, if you look at

their quarterly numbers they show it. growing at 26%, beat estimates, small, but again reaffirming the year end, and dynamic i continue to think will be one for these guys, taking share and looking great relative to the peers. >> okay. tim seymour on trade desk. thank you. all right. coming up right after this short break, bitcoin, yeah, may have gone down a little today, but well off its lows of the week. talking all things crypto with the ceo of kraken, next.

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welcome back. bitcoin ending the week back above the 60,000 level. so business coin did what bitcoin does. bitcoin was it, like, $69,000 a couple days ago. then it fell to $49,000 and now it's back above $60,000. because what's that i remember? manny ramirez, manny being manny? said about the crypto being crypto. bring in kraken ceo. tim's the only one that got that. david ripley. david, i said the words, intestinal fortitude for owning crypto.

listen, i get it. crypto volatile since the day it was born effectively but what do you say to team member, friends and family when we see a 20,000 point swing in a matter of a couple days? >> yeah. thanks for having me on. i think you've said it well. summed it up. look, i've been in the crypto industry over a decade. kraken in the industry even longer. and this is nothing new. certainly short-term voller in ability for bitcoin. look at it comparer to now, year ago, five years ago, same story. up and to the right over the long term. >> buyers coming back in. to what, then, do you ascribe the -- i get it when the yen carry trade forces stocks to fall because all of a sudden margin call. got to sell a bunch of stocks to raise money, pay back your debt in japanese yen. makes per spect sense to me.

at least does now. why was crypto impacted by the yen carry trade? >> right. well, you know, one thing that we see now is we have traditional financial institutions moving into bitcoin, cryptocurrency. that, frankly, that started a number of years back, and has only increased since then. and when we look at the, for example japan carry trade, it was about, look, the need to access collateral, fill margin calls and a number of things. bitcoin cryptocurrency networks and exchanges of 24/7, 365, highly liquid available all the time. one of the quickest places individual, traders can go to get access to collateral. so i think once you have the similar set of invest we're going to see these types of things happen. >> thanks for joining us. so we have the narrative around crypto being digital gold. would you mind speaking to the impact of inflation and perhaps

the bearing down of inflation and what that might mean for crypto and prices going forward? >> i think there's really two ways to come at this. one is, look, precisely what you said. bitcoin is digital gold. finite supply. greatest form of money and payment system ever to exist, and it is on its trajectory to fulfill all of its needs. many came before the hedge of disinflation, before the store value and so forth. but a lot of come for the hedge and stay for the innovation because there's enormous innovation happening in the crypto states regarding global payments, defy, a number of different network able to provide all kinds of different applications and technology for individuals to access. >> david ripley, helping us make a little sense of what's been a

pretty crazy time. the last week or so. i think we all need a weekend ahead of us. thank you. take care. >> thank you, you know what time it is, after the break. what time is it? >> "taking stock." >> thanks. back after this. supplement your bones with high-absorption magnesium. nature's bounty. it's in your nature. something amazing is happening here. students are inspired and engaged. that's because school districts consulted with cdw to design modern classroom solutions with preconfigured hp devices making education immersive, accessible and secure. now, when researchers study elephants, kids learn from 9000 miles away. make amazing happen. hp and cdw.

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(reporter 1) any response to the trade rumors, we keep hearing about? (kev) we talkin' about moving? not the trade, not the trade, we talking about movin'. no thank you. (reporter 2) you could use opendoor. sell your house directly to them, it's easy. (kev) ... i guess we're movin'. awkward question... is there going to be anything left... —left over? —yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! i want a massage, in amalfi, from someone named giancarlo. and i didn't live in that shoebox for years. not just— with empower,

we get all of our financial questions answered. so you don't have to worry. i guess i'll get the caviar... just kidding. join 18 million americans and take control of your financial future with a real time dashboard and real live conversations. empower. what's next. a very rapid final trade. tim seymour. >> chevron talked about exxon. chevron fundamentals good. >> buy one. >> microsoft. concerns about able to monetize a.i. they've take tarkaled that. >> exxon. up nicely a good buy.

>> two oils. make it a 24third, carter? >> oracle. >> microsoft, oracle, chevron didn't -- it's like connections on the "new york times," which is really, really hard today. folks thank you every august we come back. let us get right to it. it was a wild week for the