weren't out of the woods. >> and because, you know, we can't get enough of mike -- make sure -- >> it's okay. >> tune in for tonight's cnbc special taking stock, that's going to feature dan greenhouse and liz young thomas, coming up at 6:00 p.m. eastern, it's overtime after overtime for mike santoli. well, major averages finished fractionally higher today. that does it for us here at overtime. "fast money" starts now. >> live from the nasdaq market site in new york city's times square, this, this is "fast money," and here's what's on tap. the big bounce, stocks closing out their best week of the year, led once again by big tech, but with the fed in focus, at the end of next week, it's still safe to keep buying. plus, the new real estate reality, the change is coming to realtor pay, the impact it could have on the entire housing market, plus, inside the about face in semiconductors, a record breaking week for gold, and the traders bringing us their charts of the week, so, buckle up,

everybody, i'm brian sullivan in for melissa once again, coming to you live from studio b at the nasdaq. and on your desk today we'll hear on the desk is karen finerman, tim seymour, mike khouw and julie biel wh us, happy friday, everybody, and we're going to start with a money-making week on wall street, and unless you were short stocks, that is, coming off the turmoil of just, you know, last week, now we post our best week of the year, the nasdaq popping over 5% since monday, the s&p 500 and dow got about 2% from their all-time highs, here's a reference. apparently it's like the '90s movie memento, last week's craziness appears to have been memory holed. but as we say, last week was last week. and now, you're in for another important week ahead because not only is it the big jackson hole meeting for the federal reserve where they often tip their hat about rates but you've got earnings, retailers, target,

lowe's, and macy's, and remember, a good report from walmart helped power the market this week, so, karen, retail, kind of your thing. >> yes. >> lowe's, macy's, do we care about macy's? >> cheap, but for a reason. >> what are you focused most on for next week, and how big are some of these retail numbers if at all? >> i think walmart was really important. we got that good number of walmart. enormous, so that was important but we'll see what the follow-through is, did they get -- target will be really interesting. did they get that high margin business they were lacking before. so, walmart brought people in with the grocery, but now they were able to also get higher margin business, can target do the same? that's kind of really important for the health of the consumer. the consumer is going to spend for staples, they need groceries, going to spend for that, but are they going to spend for home goods and other higher margin apparel, things like that, like consumer

electronics, which i don't think was great at walmart, but so that's an important one, t.j. maxx, which i also own. >> you love. >> i like t.j. maxx a lot, the only thing is it's expensive, but it's always been expensive. it deserves to be expensive. they do a great job. they'll continue to do a great job but i'm not sure how much upside they'll really have in the short term and i also have the barbell, which is really luxury. that has not worked this year at all. so, i'd like -- i'm hoping that consumer is back. >> you whispered in my ear you were going cuckoo for lulu. >> this is one tim and i have talked about a lot. he was actually shorted briefly, much higher, and i think it just -- you know, it's really still a great company, it is not expensive. it is a below-market multiple, a company with no debt. they do have new competition that they haven't really faced before, but i just feel like, this valuation, the risk-reward is much more compelling than it was at double the price, where

it was not that long ago. >> fair enough,time seymour, comment on everything, what you're focused on for next week, retail with the fed and comment on this lulu trade, and whether you think karen's position is, dare we say, a stretch? >> well, i'll comment, firstly, i think you're a lucky guy with that private party there with karen. enough of that, though, let's talk a little bit about the market that was this week and you get into the move in lulu, the move in nike, the activist activity around starbucks, the change from cmg to starbucks, and activity around southwest has been good for those names that have great brands that probably need a shake-up even though i think a lot of issues around nike and lulu are, yes, some competition, but also some macro head winds. but it was a week where we had certainly less inflation and more economy. and that's a week that gave the market almost everything that it needed, and i would agree that walmart certainly helped that retail sales number reenforce the dynamic and now that we pay

a lot of attention, maybe too much, to jobless claims we got a sense that, again, the labor market is giving something back, but not all that much. so, i thought it was a fascinating week. i think if you look at the markets, though, going all the way back to that june cpi, reported july 11th, so we know we've snapped back, we know the s&p over the last two weeks, a off of that dark monday in japan, is now up about 8.5%, to within 150, 175 basis points of an all-time high, but if you look at the underperformance, and i know we're going to talk about semis layers in the show, so i'll save that. the nasdaq, the qqq's, the mag 7 have underperformed the broader s&p since that cpi report that was reported on july 11th. that trend is one thing is fascinating because while we've really come all the way back, you've certainly seen the nasdaq lag the s&p by almost 7% during this time, and that's really the question. where does the leadership come from? next week is fantastic for retail, karen outlined those names.

i do think lowe's and target, the weaker players in those pairs that are walmart and also home depot, i think they're set up for decent spots here. >> you know, julie, tim asked a pretty good question, where does the leadership come from? i'm going to ask a great question. where does the leadership come from? where -- i thought everybody at the top of the show was going to be like, oh, it's the fed, it's jackson hole, and retail earnings might be little bit on the back burner. we haven't heard that so far. how much are you watching the federal reserve in jackson hole if at all, julie. >> i think jackson hole has historically been a place where we see a lot of movement in the market, a lot of market reaction, the questions can sometimes be more specific and we get a lot of information and so it's kind of one of those things where it's like you've got to keep the main thing the main thing and in this case, so much of the market is really being determined by interest rates and so, we really believe that getting any kind of indication of september is going to be pretty critical and then

having some understanding, too, of, you know, how worried is the fed about some cracks in the employment? right? it's true that jobless claims have been looking better but continuing claims are not looking great. and i think that's the kind of one crack in the employment landscape that i'm a little bit worried about because the minute we start to see weakness in that, everything connected to the consumer is going to weaken, right? consumer discretionary behavior is not necessarily based on if you have a job, it's more impactful if you're worried about losing your job. that's when you really pull back on your spending. >> well said. you know, mike, and i think julie makes an excellent point, of course she does, which is we forget the fed's got a dual mandate, all we've talked about for three years is the fed and inflation, but the second part of the mandate, obviously, maximizing employment, there is no doubt the labor market has cooled, and cooled considerably, sadly, mike, we've got to wait until friday, until jay powell's speech, like the whole jackson hole week and we've got to kind

of debate and discuss this until powell actually talks on friday. so you've got the fed, you've got the current economic conditions, retail. what is on mike khouw's radar? >> yeah, i mean, so when we think about rates, there is a couple reasons why rates might go down, one, of course is the inflation picture, the other is the employment picture. the good news for us, at least over the last several days, has been that the inflation picture has been arguably better than i think most people anticipated. and so, these are good reasons for rates to be dropping. that, combined with the fact that we've seen arguably better than expected data from consumers, i mean, and we're coming off the heels of relatively negative news coming off of -- from consumers if we think back to the results that we got out of names like lam weston, and mcdonald's, for example, indicating there was a lot of pressure there. basically, you have the rates picture being propelled by all good things for the most part. so i think that's definitely a positive.

and then if the unemployment picture is also an additional justification, you would expect bigger moves in that area. so, i think that's kind of the whole story right now, and i am kind of positive on names like low's, i would like to see the home builders trek higher. we have a big supply shortage, they're the ones that are going to solve it. so, i think that's a trade that could continue to work, although they obviously have had quite a run so far. >> karen, it's funny. we had the best week of the year this week and yet we came off of whatever we -- whatever that was last week, the yen carriedy tra unwind was rewound, the unwinding. we're not talking about that at all. >> i don't know the magnitude of the rewind, but i think part of the reason we had the best week was still residual leftover something or other from the pressure on the market last week from the unwind.

>> yeah. >> i think. >> i think. and i'm not even sure what we're saying. >> right. >> tim seymour help us out, the rewind, the unwound, the rewound. there was a big story i read earlier this week, there's a little firm called goldman sachs which reported that corporate buybacks were off the charts this week, in other words a large part of this rally that we saw this week may not have had anything to do with hedge funds, even, it could have literally been companies coming in, and buying up their own stock. >> well, it's fascinating to think also that the companies might be better traders than the traders. there's no question, this is one of those spikes in the market over the last couple years that, look, it's left a lot of investors with a sense that they want to buy the next dip. that's not where people were on monday the 5th, and at least on an interday. the dynamics around that day and the dynamics around the japan carry trade are that there is significant deleveraging that i

think is still out there. and that will happen. i do think that it was a low volume day, and blah blah blah, highly technical. but the reality is, the yen at one point during the week was creeping back over 150. closed down, i think, dollar weakness will be something that will be probably have a backdrop to it with the fed doing what they're doing finally but also the fact that the yen needs to be strengthening. there are volatility, call them potholes a lot of investors are looking to play for and that's also part of the setup going into the fall. i think there is some sense that there are a handful of call them black swan events out there, but the most important thing right now really has proven to be the job market and where the fed will come in line. it's an important week. we'll get a lot of flavor on that. i would point out as we get into those retail numbers next week, and part of what we heard out of walmart that made it such a great number and it gets back to the overall earnings season is where are margins going to be? because i think the dynamic for

the equity market is, for a lot of companies, and for a handful of sectors, and some subsectors, we've been at peak margin. in walmart's case, the biggest retailer in the world, pushing on price and a lot of things, economies of scale, and their gross margin got better in the case of lowe's or tjx, we'll see that. they have the valuation that gives you support. i think this could be a clearout moment for lowe's, expecting a minus 5% comp. if the margins are okay, it may be all right. the market needs to worry how profitable companies are in addition to everything else and that's part of where the fear is. >> i think so, and it's amazing, go to our guests, if you bring the vix chart back up. the vix hit 80. it's back under 20. it looks like the skyline of dubai, this huge spike and it comes back down. what a week it was. look at that. am i wrong? if you're on the radio, too bad. your first guest sees a shift in the market, as mega cap growth starts to slow a little bit so

let's bring a new voice into this conversation, that is sound income strategies co-cio eric bayrich joins us now, you heard a lot. patiently listening and waiting, want to comment on what you heard? what's on top of your radar? what's the most important thing for you right now? >> well, i certainly don't speak as quickly as you all do, but i'll try to cover some of the highlights. i do think your focus on interest rates is everything for the markets now when it looked like there was enough data to suggest the fed was going to pause yet again and we weren't going to get three cuts this year, that's helped unravel the markets as well as the rate hike in japan that undid the carry trade to some degree. there's been a shift in leadership, you can see it not only in the stock behavior but also in the earnings revisions, and in the movement, the big challenge with the a.i. stocks is that they're so damn expensive, even though they're great companies and they have great margins and great earnings growth, they don't have enough earnings growth to sustain those multiples, so, as you have

interest rates fall in the rally, theoretically broadens out and we've seen it not just in the stock movement but in earnings revisions broadening, then i expect to see more of that, you know, small cap stocks rally, more value stocks and the dividend stocks, which is what we tend to focus on, coming back. >> you're echoing, eric, a note from citigroup out today, and i don't have it in front of me. i'm going off memory on it. but the summary of it was basically that most of the earnings growth so far was the mag 7, but the lag or whatever, 493, are starting to see their earnings growth grow again, and that citigroup seemed to be, i use the term happy, i guess, that there was some broadening out of corporate earnings inside the s&p 500 that had nothing to do with the seven stocks we talk about every day. >> well, i didn't see the citigroup notes, so i'm glad that at least somebody else agrees with me, but i'm actually

looking at the data, which is just the aggregate data coming up from bloomberg on revisions, it's sort of funny, communications has had a negative revision, the second best performing sector, up over 23%, and you've seen i.t. revisions slow down dramatically, and that's the best performing sector, and this is within the s&p. so, just, you know, it's normal sentiment, if you will, when there's a lot of momentum and enthusiasm, you have all the programs talking up the big names that are working, and riding the momentum and when they look at it and say, oh my god, i'm paying 60 times earnings for 20% growth, it's not worth it, they start looking for something else to do and you can get some of the value names, or not necessarily retail, but in general for literally half the multiple of the market, and they have better earnings growth than the market averages, i think people are going to be more amenable to that than they have been riding the momentum. so that's what i think. >> let me just ask you a question. first of all, thanks for being

on. i know you have your -- you've looked at some retail, and you're talking about things that are really expensive and obviously the other side of that spectrum is things that are really, really cheap, which is retail that happens on occasion, is this one of those occasions where even though you can paint a not so rosy picture the valuation is already priced in that not so rosy picture? >> i think valuations are like a pendulum, they swing too far in both directions, so, you know, you talked about t.j. maxx, which is like the done everything right company. they're just a fantastic company. but it's trading at 27 times earnings and only supposed to grow earnings in single digits this year. so, if you shift to a lower quality, more how shall we say tormented story in macy's, which is trading at six times earnings, 4% dividend and really easy comparisons even though it's a mess. they're cutting stores, they're

trying to refocus brands. so, i think more people, and a lower rate environment, will say, you know, maybe i'll pay six times earnings for macy's, and sell even though t.j. is a much better quality company with a much better business model for this environment i'll sell that great company and buy something that has more upside. so, i think there's -- the consumer is economizing, we haven't seen that on the part of port tole owe managers, they want the houses in greenwich and the beach house at the hamptons, they're not ready to pick through the value neighborhoods yet. >> very quickly, eric, macy's is up0% off its lows of last fall. i mean, so a shell of its former self, i get it, but it was an $11 stock in october, now 17. it's building about nine blocks south of where we're sitting here, which some people say is worth, that's the flag ship, an entire block, it's probably worth a couple of billion. is there anything to that

concept that effectively macy's is trading at the value of its one herald square building and the underlying business has no value? >> there was a guy who did a lot of work on sears a few years ago on that exact concept. >> that worked out. >> maybe not as well. but i think you're absolutely right, i mean, they did at macy's for what was it $27, something like that. >> 24.50, i think. >> they turned it down. their shock as a shareholder, that was easy money. but, they think, and they have a good ceo, and they're doing a lot of the right things, they think they can manifest that value otherwise. i don't own the stock, i'm just saying looking at it, it's the kind of thing where you get people like me who say, you know, i have a hard time, since i'm supposed to be buying high yielding, dividend paying stocks, i have a hard time buying my favorite companies like t.j. maxx, they're too darn

expensive, but i can start digging into the well for things like macy's. i don't care how much it's up. i care what i think it's worth versus where it's priced and if it's worth $30 a share, as some of the parts say, and it's trading at 17, that's not a bad payday if i get a 4% yield along the way. just a thought. like i said, i don't own it, but it definitely screams out well. >> well said. eric beyrich, appreciate it, sound income strategies, eric, have a great weekend, thank you very much. julie, i know you're out there in l.a. okay, but there's macy's out there, you get sort of my point, i don't know why we're talking about macy's except that google paid $2 billion for a block long building a decade ago that's the same size or smaller than macy's store nine blocks south of here, or is that whole real estate piece just bunk? >> no. i think there's a lot of value to thinking about the underlying assets, you know, even on our short book we have to think a lot about what tangible assets companies have that can give you some comfort. for quality investors it's hard

to really get confident about something like a macy's, but at the end of the day, you know, howard mark says this, there's no asset that's so awful it's worth nothing and there's no asset that's so great that valuation doesn't matter. you really -- you know, valuations really do matter and they have to be relevant. i think for long term investors, macy's is in a comfortable bet. i'm more comfortable in tjx but i recognize there is underlying value to this business. they have a customer base that, you know, cares about them and wants the products. >> well said. we shall see. by the way, fun fact, macy's first day sales in 1858, $11.06. >> for the whole day? >> well, back then, that was like $200, maybe. not bad. we have a long way to go. on deck, the semurge, the full check on chips. and let's have even more fun after that, and talk cars, and buckle up because the gears are shifting on the classic car trade, robert frank is going to

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welcome back, semiconductors surging, they had their best week since march of 2023. random stats for 400, alex. the smattf gaining 10% since monday while every member of the fund was up, nvidia led the gains, rising 19%. intel actually managed a gain, but only about 5%, if you're an intel shareholder, tim, you're probably happy that intel went up at all at this point, your take on this massive snapback, an 18% jump for nvidia? >> yeah, and no comment on the intel shareholder front, by the way, brian. when i look at the move in semis, if you take that interday low on black monday in japan, october -- excuse me, on august 5, they're you were about 23%. i would, again, go back to when they peaked, which was july 11th, right before that cpi

number, and that was a wake-up call for the broadening of the market which it was a wake-up call for rotation, it was a wake-up call for the valuations making sense. and nvidia certainly has performed fine in line. but, i think that's really part of the backdrop here, are they going to continue to provide that leadership? remember, as long as semis were outperforming q's, which were outperforming spies, that was a formula for a year and a half that told you markets were going higher. right now, that jury is still out. amd, as i tried to point out a couple times, because i just think the relative underperformance there has been notable, if nothing else, a case where i think investors have been at least questioning whether the product line is ready for primetime and the dynamic that over six months it's underperformed the smh by 35%, even though the snapback trade is actually -- it's held serve against the entire sector. >> well, tim, what do you think is wrong with amd? >> i just think it's a dynamic where people have questioned whether they really have the growth and the product line that

can begin to encroach upon the mote that nvidia has, and a valuation on a trailing basis is 177 times. we don't really know where the multiple is going forward. we do know that the earnings, as i think eric even pointed this out, the jury is still really out whether these companies can live up to those moumultiples h. >> mike khouw, your take on semiconductors? an incredible snapback today. >> i'm reminded of what happened in the outside essentially of the tech. i'm not going to compare what's going on right now to them, we have companies that are actually really growing and making real money but i think it's important to remember that as the crack started to emerge that time one of the things we started to see was this kind of increase in volatility, downside and upside. right now the smh is 246-ish, give or take off of about $30 off of the all-time highs we saw earlier this year. it's cheaper, but it certainly

isn't cheap. i don't think we're completely out of the woods as tim was suggesting here. i don't think this is a rally you want to chase, actually. >> not a rally you want to chase. you heard it there, folks. we've got a lot more "fast" to come, here's what's coming up next. >> the olympics are in the books, but the "fast money" traders are going for gold as the yellow metals rally shines on. the seemingly unstoppable climb it's seen this year, next. plus, a housing sector shake-up has a big change in realtor commissions is about to hit the market. what it could mean for housing, and buyers waiting in the wings. you're watching "fast money," live from the nasdaq market site in times square, we're back right after this. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust.

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deepfake: hey handsome. ♪♪ [inner monologue] ...always iterating. ♪♪ welcome back to "fast money," apparently you still love gold. the precious metal smashing through another record today, 2,500 dollars an ounce, gold now up 32% in a year. big miners are minting money this week. the gdx gold mining etf up 7%,

mike, just since monday. are you a buyer of gold or gold miners? >> i am a buyer of gold, and, you know, i think when we had the acronyms this was actually one of the things i was advocating at the beginning of the year, tim kind of called me out. it was the "a" in brave, au, the elemental symbol for gold. a cheat, but made for a nicer acronym. look, i mean, the reasons to own it. one of them, of course, would be anything that's inflation related. that's obviously helpful. we've seen a big uptick in volatility that has calmed down recent by, but there's another reason to own it as a diversifying asset. those things are supportive. it's not just monetary policy that causes inflation. fiscal policy does too. whichever candidate you're looking at it isn't exactly like we have deflationary talk. you combine that with what rates are doing and the tail winds are still there. >> tim, you want a quick comment on that -- can we just talk

about this brave, brauve, apparently? >> i don't know. i don't know what you're talking about right now. i will say that i think gold, everything about what's happened with last monday the 5th, what's going on politically and deficit-wise as mike alludes to is gold friendly. look at the s&p's performance from the cpi low in october of '22 to present it's up 55%. gold is up 55% during the exact same period. there's no question to me that the dynamics we have in the world including near shoring, geopolitics that have, i think, a lot of elements of wanting diversification away from the dollar and other hard currencies is gold friendly. if you look at the gold miners, what we've had is actually earnings by a handful. and i hate to talk about this behind his back, but eagle is i think the "a" in clam, and that's up 50% year to date. the underperformance of the miners to the metal is something

we talk about. this market over the last two weeks, miners are up 15% to gold six, you're getting that beta back again. now that you have some earnings and you can see where these gold miners are actually participating in terms of operational leverage to the underlying metal. >> so, yeah, it was the clam makes sense, the "a," not the au. karen, comment on bitcoin. >> yeah. >> and massive bounceback with the equity markets. >> not as much as i would have thought. all the reason that tim and guy like gold, the fiscal irresponsibility, that should have really, i think, helped bitcoin more than it did. i think bitcoin ended up, to me it's a crazy trade, there was some yen carry into the much riskier stuff here, including things like bitcoin. so, it was, you know, definitely hit in the unwind. i like bitcoin. i am long. i've had exposure for a long, long time, i'm still long here. i think that is still there.

>> i think karen quickly told me that a lot of these people on this hedge fund carry trade, and buying, they were clearly buying crypto as well, or they were owners, had to dump it to raise money to pay back. we learned indirectly a lot of big powerful hedge funds are into crypto in a bigger way than maybe we thought. >> that's -- we won't know exactly how much. i would have actually thought, once that subsided, that flush-out, that it would have bounced back a little bit more. maybe it will next week. >> 59 and change, not above 60, but hey, it's bitcoin. wait a minute. by the way, speaking of waiting in about 26 minutes you've got a cnbc special "taking stock," mike santoli, live 6:00 p.m. eastern right after "fast money." that is taking stock. we're not done yet. and on deck, huge changes to how realtors get paid. it could impact all of housing. plus, the young collecting the

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welcome back to "fast money," certainly hope you are having a good time because your money sure did this week, stocks rising again today, all the major averages, higher bond yields falling just a bit. the big winner, well, it's where we are right now, the nasdaq, up over 5% since monday, and how about these -- sully stats. only 11 nasdaq 100 stocks fell this week, that's 11% according to my math, karen. and nine stocks rising 10% or more, with starbucks, and super microcomputer popping over 20% each, obviously big ceo change, starbucks, some other notable names this week, media company, fox, highest level in more than two years, h&r block, and intuitive surgical also hitting record highs. well, from stocks to an even bigger market, and that is housing. because new rules for real estate agents take effect tomorrow, marking maybe the biggest change to how you buy,

you sell your home in decades, if not ever. diana olick joining us now to explain all the changes. diana? >> brian, this is a landmark antitrust settlement that should bring more transwparency. in addition, buyers will have to sign agreements of compensation with their agents. in the past both buyer and seller agent commissions were usually paid by the seller. now,some have claimed this could lower home prices because sellers have baked the bory commission into the price. i spoke with the ceo of one of the nation's largest brokerages, exp, about that this morning. >> i think that's categorically false. the value of a home is dictated by the supply of properties that demand from buyers and the affordability index. as we saw interest rates retreat by about 1%, that will bring

some reprieve to buyers on the sidelines. but really, we have a fundamental lack of inventory in this country that comes from the financial crisis where we didn't build enough homes for the household formation we've experienced. >> but there is some concern for first time buyers who might not be able to afford the commission so they might not choose to use an agent, and that could hurt them if they don't understand things like downpayment assistant, contingencies, inspections, appraisals, closing costs and all those other things an agent can explain. >> diana, thanks for being on. i'm all in favor of transparency although this seems like a difficult one for the buyer to step in, or what they didn't used to need to do before, which is negotiate with their own agent, is there -- how do you think this is going to work out? >> well, i think it's going to be kind of messy in the beginning, that's for sure. i've spoken to a lot of real estate agents. i spoke to a buyers' agent this morning, and they said it's

going to be a mess of paperwork first couple months. and buyers will have to market themselves to buyers, which they didn't used to have to do. you could walk into an open house and see a buyer agent there and hook up with them and make the offer. you wouldn't have to worry about because you knew the seller was paying their commission. now, you're going to have to negotiate that commission with the buyer. so buyers going in are going to have to be more savvy about where those commissions are coming from. but again, they can now negotiate a bit more, not that they couldn't negotiate before, but a lot of buyers didn't know they could negotiate those commissions. >> is it -- diana, is it fair to say? i don't want you to overly generalize, but i'm going to ask you to overly generalize. it seems to me this change is going to force -- a lot of people are going to leave the industry. it's maybe harder to make money on certain sides. but, the best realtors out there, i think, will become even bigger and richer. i mean, i think it's really going to separate the group. what are you hearing? >> yeah. i mean, i've actually read a

bunch of things about how newer agents might have trouble, those who aren't as savvy in the market, don't have as much experience. agents can use this to their advantage. you might have agents doing buyer or seller commissions, and they might decide, okay, i just want to be a buyer's agent. this whole area was changing already due to technology. i mean, 20 years ago we couldn't go online and just start home shopping by ourselves and figure out what house we want and compare it to other houses in the neighborhood. we didn't have all that data. you've got all different kinds of business models, flat fee brokerages, different compensation models. it's going to start to streamline, and especially for those experienced agents, it could be a benefit for those without, you know, you may see some people leave the industry. >> you wonder what's going to happen to stock trading will happen to real estate commissions, you used to pay $100 to buy and sell seven shares of stock, now it's free. we'll see.

diana olick, thank you very much. >> it's a service, though, it's a good service, though, i think you'll still pay for it. >> and the biggest transaction you'll make of your life, and often very complicated. diana, thank you. coming up, it is friday. so, our traders are laying out their charts of the week. i can't wait for this, neither should you. classic car collecting, robert frank with the tough gig. look at that. being in monterey, california with some very beautiful and very expensive machinery. what are you sitting in, robert? >> well, brian, we're going to drive you back to the 1980s, supercars from the '80s and '90s like this lamborghini are the hottest sellers in monterey. we're going to tell you about the new generation taking over the classic car market and why that's created markets for boomer cars coming up right after the break. skin is ever-c, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond.

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(other money manager) your clients really come first then, huh? (fisher investments) yes. we make them a top priority, by getting to know their finances, family, health, lifestyle and more. (other money manager) wow, maybe we are different. (fisher investments) at fisher investments, we're clearly different. welcome back to "fast money," there is something big happening in the rarefied air of classic car collecting, even as many cars get older, many buyers are getting younger. robert frank, as you just saw, live in monterey, california in front of that -- is that like an

'85 kuntash? >> it's a 1989, brian. you talk about big. this is the biggest car in the world, it's the over $460 million worth of cars expected to sell this week. that could be a record. the reason so many people are optimistic this year here is because there is this whole new generation of collectors taking over. as you know, for the past 20, 30 years it has been the baby boomer collectors that's defined the classic car market with the 1950s and '60s cars as classic ferraris, aston martins. it's the millennials and gen z that are taking over. the 1950s, just a decade ago and these younger collectors, they want cars from the '80s, '90s, even the 2000s regarded as classic cars now. >> it's probably one of the most interesting things in this space

is to see these newer cars, cars in some cases still under warranty, being sold at vintage car auctions as something truly unique, a car is selling over their sticker price. it's the burken bag effect where there's a 9/11 that had a strange color and a cool set of options, and just boom, everybody recognizes that it's incredible. >> and so, you know, brian, one of the star cars here this week is a 1960 california spider ferrari, made famous by fer ris buehler, that carouseling for over $18 million. this black one looks like the one in cannon ball run, estimated at close to a million dollars and this one was used as a daily driver by the previous owner, a lot of miles on it, estimated half a million. but all the collectors here, since i've been coming, brian, have gotten a lot younger, and these '80s and '90s cars, they

are in the most demand. >> you know that car looks like it's just -- looks so fast. when we were kids, it's the fastest car ever. 0 to 60 in 5.4 seconds, which is not that much faster than a honda odyssey mini van. today, we've come very far. you've got a cool story about one of the top cars it got stolen from a holiday inn? >> yeah, so this is being sold at gooding, that is the most expensive car being sold this week, it's a 1938 alpha romeo, it was on its way to a restoration in south carolina, stolen at a holiday inn on the way, on a trailer, the thieves didn't know what they were getting. the owner was reimbursed by insurance. 18 months after an fbi investigation they found the car, and now it's being sold. so, that's a big story here, and we're going to see what that goes for.

and just a couple hours. >> thanks, robert, amazing stuff. thank you very much. julie biel, what would you do if you were a driver of a trailer that got stolen at a holiday inn with a $20 million car on it? >> i hope the insurance was stunning, that would be a real bummer of a morning, for sure, but it doesn't surprise me that people are flocking to these cars, especially young people. it's so hard to find value in cars. and a lot of people view these as opportunities to avoid the depreciation. i'm a big car person, my kid brother is a big car person, he has a little me miata he runs around in. it makes sense these young people are choosing to sock their money. >> touch and look and drive them unlike the blackwell chip from nvidia. talk auto stocks very quickly. karen, a take on a -- weird segue there. >> just lotus. >> honda odyssey. >> not a bad car, actually. >> the lotus of -- >> i had one of the worst cars ever, a ford flex.

>> i love that car, the wagon, the square wagon? >> that's an awesome car. you could put a surfboard in the back. >> terrible blind spots. lotus up 12%. >> loading up on lodi. got stuck there once. we've got traders, charts of the week, we've got final trades. i'm going to ask, why not, mel's not here, i want everybody to give their final trade and one single dream c.ar can we all do that? "fast money" back in two. al? be able to perform here. and here. make a statement while barely making a sound. and command the road, as well as what lies ahead. how we get there matters. get exceptional offers at your local audi dealer.

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all right, it is our chart of the week time, headline making name, small cap to everything else, jump right in, tim, begin with you. >> yeah, chipotle. cmg, the starbucks news this week was extraordinary. you have a rock star ceo in brian nickel who the view is, can this company grow and have the same strategic vision with a new ceo? i think to me that's not even the question. to me the question is, should you be paying 51, 52 times for the company in an environment where i think actually the macro in this space is challenging. i think margins are coming in. but it's obviously a major loss,

and that's what people are debating. >> karen? >> yeah, so dell, which was halved from its way too should not have been that high 180 and bounced back on absolutely no news, last five days, 21, 2%, that's a big move. >> mike? >> three month implied volatility on the broad market indices between now and then you're going to capture obviously the election, we've got two fomc meetings, september and october, particularly volatile. buy some puts in there. >> julie? >> ollie's is for customers looking for value, general merchandise, like tjx, but for general merchandise. >> appreciate that, and very quick, a 25th happy birthday to my friend leif karlson sitting here in studio. my wife, julie, i'll see you tomorrow in wisconsin. happy birthday. have a great time. erth a, ra, you're on came. the eyregoing to break right now. like your workplace benefits and retirement savings.

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tried to get us out of here early, they brought us in for a final trade. we've got to do that. tim seymour? >> 66 mustang convertible, the car i drove in college, that's the one for me. gold miners are going a lot higher. >> mike? >> the singer designs porsche 911, and netflix might break the all-time high. >> mine too. julie? >> as ton martin db 5, watch sebastian power slide, it will change your life. saia, maybe those trucks can drive around for me. >> karen. >> singer porsche is legit. >> nice, going with the flex. i know it's ridiculous. final trade in the sort of realm

of retail that is just really gotten too cheap, whether or not you even like the business, i think sig is really interesting, stock is crushed. very cheap. >> thank you, brian. >> thank you for not being too hard on me. i thought last block was the end of the show. it happens. >> that's all hard on me that i thought the last block was the end of the show. it happens. have a great weekend, everybody. happy birthday, life! hello, i am mike santilli. welcome to the cnbc special -- "taking stock". this has been the best week of the year for the markets and the best hour of television for you. and i am not saying that just because josh brown isn't here. i have lizzie thomas and dan greenhouse joining me. we breakdown this week's market boost and get you ready for what could be another wild, consequential week from wall street told wyoming. let's get right to it. we are on