the h-100, h-200 >> among the many things we're going to be listening for next week, patrick, as the company does report, and as i mentioned it's not too far off its all-time high. patrick moorhead, appreciate the time today that's going to do it for overtime on a friday "fast money" with leslie picker, live on broadway, begins right now. yes, we are live from the nasdaq market side on broadway in the heart of new york city's times square, this is "fast money. here's what's on tap tonight jackson hole jumped with four words, the time has come fed chair powell added fuel to this robust recovery rally from housing, the regional bapgs to small cap stocks ending the week on a high note can the good vibes last? we'll debate. here comes nvidia, the next make or break moment for your money, can the a.i. darling keep charging higher. the forecast straight ahead. and later, salad days for

cava, the traders bring us the most important chart ahead of next week's action i'm leslie picker in for melissa lee. on the desk tonight. karen finerman, steve grassso. the dow, nasdaq and s&p 500 up more than 1% today after the fed chair indicated rate cuts are ahead. the nasdaq jumped 258. treasury yields falling today, the big winners, home builder stocks, toll brothers, and lennar, and d.r. horton, new home sales reaching highest levels since may 2023, small caps having a moment, the russell 2000 soaring 3%. so can this enthusiasm carry into the final week of august? >> can it? yes, it can. will it? not sure september's the worst month on a

seasonal adjusted basis for -- on seasonality for the markets and the worst month for semiconductors is this time different that's what people will always tell you there's the possibility it is different. election year cycle, we have a bunch of stuff that we've been waiting for. is it priced in? we've been waiting for cuts. now, it's consensus, 75 basis points or 100 basis points cut, is that enough to keep us going? i'm not sure, but, we're at all-time highs we're probably have a little more left in the juice think about this one thing usually, when you cut, that's a signal that the top isn't in the market but you have a couple of months before the market starts rolling over. >> isn't it true, karen, i've heard mike santoli say this on air that usually that first cut is a selling opportunity because so much of it has been priced in, so much of it has been expected that it doesn't ultimately get filtered into the discounted cash flow models investors are using. >> i actually was surprised that the market reacted as

strongly -- what was shocking in that speech? not really much. right? the four words that you did say, that was okay, important, but we kind of knew we were there already and i think the expectation of a cut, it's not 100%, but it's close to 100% as you can get. i was surprised at the markets reaction, it was more dovish than i thought but, still, this was a pretty strong rally that was sort of surprising to me maybe, i mean, i feel like we've front-run the cuts a few times now. so, i don't know what's going to happen when we actually do cut maybe he can just support the market with a cut, and more dovish rhetoric. >> yeah, and, tim, how much of it was the overall confidence surrounding the idea of a need to pivot, and just the fact that it doesn't seem like it's necessarily an emergency, that it's more of a pivot at this point in time. >> that's well phrased, welcome, leslie, great to have you here, and as rod stuart said, the

first cut is the deepest i think the impact here is we got it i mean, i think there's a lot that is going to be not so great about what the fed's doing but for now i am in the camp that says i don't see a recession coming anytime soon. i'm more worried about trends both with the consumer, trends with margins that i think have markets looking at then all of the other macro tail risks out there in a case where, yeah, it's similar to, i think, the analog that steve's talking about. but i look at the move in the dollar, and, you know, the dollar quietly is down now 5.2% from its peak in july, and this is in -- you know, you can do the math on how many days. in terms of sessions, we're talking about 40 sessions or so, that's remarkable. and the rallying goal. these are dynamics that are part of that broadening, remember, rotation from markets at times is thought to be, you know, a positive term. and other times it's certainly the dynamic where the math doesn't always add up for the

market going higher even if you're rolling in and the market is broadening. today was obviously an important day. i still think the most important day we're watching is september 6th. that's the payroll number. that's where we're really going to get a sense i think you can take a lot of this back if you got another poor print on payroll in the sense, being the fed is behind again, i think there's certainly some noise in these jobs numbers and from what we've seen so far, i don't think we're going to see that but, again, 10.25% on the s&p, to where we are today, it's been a massive move. >> yeah, powell definitely signalled that the risk waiting toward the labor market is much more in focus than that of inflation. carter, you've got every s&p sector in the green today led by those not surprisingly more rate sensitive areas, real estate, consumer discretionary, information technology, and even energy, do you think that this is kind of what we can expect to see until we get those payroll numbers, or more clarity, at

least on the potential magnitude of those cuts in september >> sure. so, i think the important development this week, and tim was saying the big rates and dollar, before we get to the s&p sectors, and just to say, if you were to do literally a google search or an a.i. search or when the phrase higher for longer first crept into the vernacular it was about two years ago, and not once has it closed above 5%, not once and only about 4 1/2, or 13 weeks, and that's gone forever, happily we can get away from something that never existed with the dollar weakness this all speaks to something. is it just this goldilocks moment as you all were intimating, is much of this priced? that's my hunch, that the market has done a lot of lifting here, back to, or close to the highs equal weight index is made a new high today but still a defensive

year outside of technology, number one sector, still utilities, followed by gold, year to date. >> steve, of course a lot has been made of the neutral rate, and it was larry summers who said today he thinks the fed is making a serious mistake by believing the neutral interest rate so low and misjudging how restrictive any given level of policy is, that's been a discussion as it pertains to the banks, and as it pertains to the overall cycle. any takeaways in terms of just his overall legacy and whether, you know, you spoke a lot about just the transitory vote and all the different people in it what will we be looking back on in a year when they're in jackson hole again >> i think things are always transitory depends on your time frame of what transitory is i don't think he did a terrible job. i think he's done the best job anyone could have done in that seat i think that they should have been cutting they should have been cutting probably in march, because

there's long and variable lags where it takes the tightening cycle to start hitting, and long and variable lags where they start loosening money policy, so that has to -- that has to take place in the market as well. so, i think we will avoid a recession, or a deep recession, but i don't believe we're going to avoid a recession period. how will he be remembered? as what the fed is always, late, late in the beginning, late at the end, they have 400 economists there, and they've never had a pressing call, it's not a dig. it's not what economists do. so when i look at my portfolio, i'm looking to sell things right now, not to buy things right now. the russell. the reason why the russell is rallying is that 40% of the russell needs variable rate financing. they need the market to come in, they need the interest rate market to come in. the percentage of unprofitable companies in the russell is over 40%. in the 1990s it was 15%.

>> the variable financing is something that caught the attention of dan lobe in his investor note, talking about expectations for more volatility in the credit markets as a result of this phenomenon. karen, i'm curious your thoughts whether you think the fed is behind the ball and if so that indicates a 50 basis point cut. >> i don't think there's that much difference between 50 and 25 i think they'll do 25 unless things change but i think he's done a masterful job, actually, if you think where we were two years ago, and carter's talking about higher for longer, when it was firmly in place, the expectation of us having a recession, by now, right, midor getting into late -- later 2024 seemed highly unlikely, and yet, here we are with gdp still healthy, right, and i know employment has ticked up, but still, at a very healthy level, and you have inflation coming down to their target, that's a pretty masterful job, i think. and so, i think -- you know, i think we keep saying will he be able to soft land? he has

at some point, of course, we'll have a recession, whether he's there or someone -- that's just the way economic cycles work, we're not -- you know, that cyclical business hasn't gone away i think he's just done a masterful job, good for him. didn't seem like a drop the mic kind of moment but i don't know, i think you should take a victory lap here. >> tim, you want to be the tie breaker here >> i'm with karen. i also think that a lot of the inflation issues are certainly ones that were fiscal, not monetary we gave away 25% of gdp during covid. there's been some dynamic, i think, in terms of what's gone on with corporate tax cuts by the way, both sides of the aisle, we're not a political show, but i do think that where the fed was, you know, look, as a citizen, as a consumer, i'm very happy to wait a little too long in terms of endemic inflation. paul volcker believed the psychology of inflation was so

important and i think we still have to overcome this. i think you see pricing power that corporations feel like they have had, i do think that there are obviously price pressures but i also think there's a case where you could see more head winds to that. so, i'm happy that the fed has stayed in there. i think the fed has done a lot to regain some credibility, i think the fed is going to be late, as steve says, and i also think that we're going to have some problems in ahead, but fed's done fine. >> that's just an economic cycle, perhaps, we'll get more on powell's comments on rate cuts today and the potential for those. let's bring in senior economics reporter steve liesman from jackson hole i heard there was a storm, but it looks like sunny skies. maybe that's a transitory metaphor of sorts that you can help break down for us part meteorologist. >> we have such an amazing -- an amazing crew here, leslie, what they did is they held down the tent and then they cleared the rain out. >> wow. >> so it's been great. >> give those guys a raise.

>> i'm trying to get them to do a rainbow for me, but i don't know if they're that good, but they're very good, this crew. >> a rainbow bonus, perhaps. >> so, i want to talk about something that you guys were talking about which is, you know, why did the market react i was really interested by the way in the reaction of the dollar, they clearly -- the dollar -- our currency traders currently weren't prepared for this, the bond market, the stock market, the market had not priced in fully what powell said, and i suggest three things, the three d's, more dovish, more definitive, and more direct than i think anybody thought he was going to be and there's two other aspects that i think worth considering this is not a rate cut cycle that's going to come with strong guidance the way they did, for example, in the great financial crisis, the way they've done other times after recessions, but there is a little bit of forward guidance in here you'll notice he said adjust rates, don't just adjust by doing one, he also said rate

cuts it's a process, which is something i asked about at the last press conference, and he affirmed that. the other thing is, tim made a really interesting point about, well, if the next jobs report is "x," i don't think it's quite that sensitive, tim, i think what's happening here is the fed chair is explaining, we are cutting rates now because of the progress previously achieved, not because of what's going to happen, necessarily next, within certain parameters, obviously, so it's a bit like saying, you know, you're -- you're going to get the award for your gpa over the course of the four years, not just for the next couple months while you may be screwing around at college in the last couple months before you graduate so, i think there's some tolerance guides for inflation a little bit above, employment a little bit stronger, the economy a little bit stronger, and you'll still get rate cuts with the debate being the exact one you had, how much, how many, how fast. >> the adjust language in there insinuates there's not an

emergency, necessarily, they see on the horizon, right? >> no, that's absolutely right he's not in any hurry to bring rates down very quickly, but, there is a point at which, if you're worried about the economy, you want to be in a position to help, just to use another perhaps lousy metaphor here, if you're the guy who's going to catch the gymnast, coming off of the beams, you've got to be in a position to catch them you can't be two steps back, what does that mean? you've got to get down to a place where you're within striking distance of neutral within a decent amount of time, by the way, take into account the lags you all were talking about there, you want to be 100, maybe even 200 less than where you are right now, in order to provide stimulus, which would mean going below whatever you perceive neutral to be. >> steve, when you look at -- i'm going to get slightly in the weeds on this, should we be concerned about the fed's balance sheet.

>> my favorite place, steve. >> yes. >> should we be concerned about the fed's balance sheet pre-pandemic, post-pandemic, we've got it up to 9 trillion, we're somewhere in the high sevens now, do you feel that the fed is even thinking about that, or not thinking about thinking about that >> i think it's thinking deeply about it, steve, but i'm not sure it's coming to any conclusions. there's an idea out there that there might be something of a free lunch in the balance sheet. i'll explain that in a second. but let me give you the warning, one of the rules of economics is there are no free lunches. we haven't quite found the cost. the free lunch idea is that it's helpful on the way up in terms of increasing the balance sheet, and not incredibly painful or hurtful on the way back down i think the fed continues reduction of the balance sheet, even while it's cutting interest rates in order to get it back down at the slow, methodical

pace they've taken 2 trillion off i don't know where they want to go do we have market estimates in our cnbc fed survey of 6 trillion or so with 3.2, or around 3 trillion for the bank reserves there's room for them to go down and to keep going down and until i guess they feel like there's some, you know, a yelp of pain from the funding market that says you've taken too much out but, i think, steve, right now, we seem to have been able to take 2 trillion off the top and there's no obvious evident pain in the financial markets. >> yeah, it's a great point. steve, thank you so much for getting into the weeds there in jackson hole really appreciate it great coverage today our steve liesman. >> pleasure, thanks. our next guest has the street's second highest year-end s&p 500 price target at 5900 he raised his forecast from 5200 at the start of the year here to tell us why he thinks stocks can keep pushing higher is oppenheimer asset management

chief chief investment strategist does powell's speech today make you even more bullish or do you think there are some cracks in the employment picture that could ultimately create a risk to your thesis here? i guess it's 5% upside >> where we are right now, leslie, i've got to say, we thought there was no surprises in what the fed chair said today. we've been a fan of the feds this cycle i've been in this business since 1983, so i came in when paul volcker was in his second term i've been a student of the fed for years, and since bernanke, it's never been as comfortable working with the fed they telegraph their punches, they tell you what they're going to do. generally the market still doesn't believe them they play against it but this has been a remarkable cycle in the sense that they've been extremely sensitive, throughout it, we've had 11 hikes and nine pauses, that's 20 fomc meetings, and no recession

i think they're also aided and abetted by the fact that the economy is bigger than ever, there's more cash floating around, everywhere, and it's global the u.s. stands out in terms of its growth potential because of technology and innovation so, i feel comfortable, cyclicals still overweighted, versus defensive we think at this point you can look to -- we've been seeing a broader rally since october of last year, october 27th. it was broad across the sectors, led by tech, then it narrowed at the beginning of the year. we had several times when it widens and the smalls and the mids look like they've really got a potential here, once the feds begin to cut and the market gets -- it's one thing to intimate it's going to cut, but when it actually takes the cuts, and as long as we don't find that the fed is cutting because we're in a recession, or because we are about -- they think we're about to fall into one, that's a good sign, it means in spanish,

yabasta, which means enough is enough. >> john, thanks for being here would you think that growth, those other rotations, i guess, into the russell 2000 for example, cyclicals, for example, is that at -- is that taking away directly from the magnificent seven from tech or all of them can work >> i think they can all work with tech, essentially sharing, the spotlight quite often. it's not -- it won't be center stage all the time sometimes it will move over on broadway, right, it will move left of stage center, or right of it, but we can't help but think that the innovation related not just a.i., but the way it affects software, the upgrade cycle in hardware that we're about to experience, or to begin to experience, this is something that is a water shed type of event, that will be disappointments along the way, you know, there will be quarterly disappointments for some companies, but others, just like with retail today, look at

retail retail had some really good news, you know, and the retail numbers were better last week when they came out or was it this week? this has been a long week, as i recall, and you've got -- i'm pretty excited about it. i think related to the russell, my problem with the russell 2000, i prefer the s&p 600, which is a better quality. i think you have to be -- i think you have to be profitable a year to get in there i think that's -- i think on the other hand, 40%, right, joe terranova reminds us 40% of the russell 2000 is not profitable, some of that probably just because they're waiting to grow. they're waiting for business but the russell 2000 tends to -- when the tide comes in, and all ships float, that's when the russell's really leading but the s&p 600, it's pretty good today, at one point it was just a little bit under the russell in terms of performance. >> and obviously russell leading

the way today on the heels of those comments john, thank you very much for being here. >> thanks for having me. carter, what's your take >> well, okay, john makes an important point about the equal weight s&p made a new all-time high in that stock, the case for the s&p. the real question is, there is this notion that small cap stocks on a long-term basis outperform the market, the russell 2000 by virtue of their innovation they have so much room to grow but the truth is, actually, it's midcap the s&p midcap the best of all, there's a reason for that. once you're large cap, you're pretty picked over many people are aware of you once you're a champion like nvidia, you're owned by all and there are many things in small cap that never make it out of the nursery, if you will midcap is over time the best performer, and it did very well today. >> tim, what's your take

>> well, i think it's great having the strategist on after we talked to the economist because it really is about eps, and so we have 11, 12% eps expectations for 2024. we really are starting to, you know, collect that mosaic of outlooks for '25, and that's really where the rubber is going to hit the road. i do think in the short term, we have dynamics around you're talking about small caps, you know, look at the move in the regional banks today the money center banks, we don't have credit issues yet, all the guys i talked to that are smart credit guys are not necessarily saying i see it in these regional banks here. there are places you can continue to be aggressive, and i think ultimately we're going to get to that place where we're going to need to understand where eps for 25. >> those regional banks definitely a tell about where the market sees the potential credit pain or not in this current environment. i would say today it's probably a not. coming up, alibaba shares jumping as the chinese commerce

giant does wheeling and dealing to tap into mainland china's cash, what it means for the trade next, but first, topping the tape, we'll dig into the monster move of shares of cava keep climbing from here. >> you're watching "fast money." here on cnbc we'll be right back. 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. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities.

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talk about easier investing. welcome back to "fast money," topping the tape, on cava, shares surging 20% at their highs in today's session after last night's earnings beat the company is saying traffic rose almost 10% in the quarter, and raising full-year forecast, karen, last night you said this could be the next chipotle. >> i'm making the exact same mistake here this seems stratospherically expensive. those metrics were so good all the way down the line. starting with sales gigantic there's so much room for them to grow only a little over 300 stores now, originally they planned to be a little over a thousand by 323, i think, there's so much room for them to grow. they're more constrained

they have a gm academy to try to train people to be able to open new stores, i think that's maybe a little bit of why they're not opening more faster because i think there is demand there to be absorbed. just what an extraordinary story. i just can't get -- it's sort of trading where there's no oxygen. i can't breathe at a level like that where this is trading. >> and following the same part to your point where they have the loyalty program that chipotle had that put probably $2 billion behind chipotle, they're trying to do the same floor plan, the same business plan, the same strategy that chipotle did, and karen can't jinx it because she didn't invest there. >> there you go. >> she will not hurt there. >> you're welcome. >> what brian has done at starbucks, he comes here to be the ceo of cava. >> full circle, just in the mediterranean space. carter, in terms of the whole expensive debate, what do the charts tell you? >> sure. so, this is all about knowing

who one is in the market, what your time frame is if one believes this will join the pantheon of restaurants, only one, mcdonald's, and starbucks entered, we have those two big ones, but then chipotle, but wing stop, come from nothing, and they become important companies, if one believes that, it's not about the chart, it's about stay long, be long. if one is a trader this stock is up 50, 60, 70% in a matter of weeks, months. you sell calls at a minimum. you hedge in some way, my thinking. >> fast food on "fast money. there is a lot more fast to come here's what's coming up next alibaba antes up, the huge bet that could transform its cash pile and unlock a whole new market in the process. plus, the countdown to nvidia earnings, when results could tell us about the state of the a.i. trade, and tech stocks.

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welcome back to "fast money," alibaba announcing they will upgrade their listing status in hong kong end of the month, bringing broader access to more investors across china, shares are climbing 3% today tim, you flagged this move somewhat technical in nature, not fundamental per se, but you think it's important >> well, i think it's technical, we've heard this kind of stuff out of alibaba in the past, in terms of share class in hong kong or domestic or, you know, the edrs, they're coming, they're going, these issues with the shares, and those are technical dynamics that have moved the stock. you can make an argument that in terms of just, jpmorgan has a high conviction call, follow-through from that, and some view from the hedge fund community this is a stock with event-driven catalysts, some of it would be monetization on spinoffs, potentially even where they could be also doing a special div, et cetera, this is

a company that's got 40% of their balance sheet in their market cap in cash so, i think the dynamic for fundamental players is that there's been some stabilization of their e-commerce on the domestic side. their international growth is extraordinary. it's actually up over 40%. valuation is easy to do. it's never really been about valuation for this stock for the last two to three years, and i've owned it. i've traded it a bit you've had a lot of luck if you've traded the stock. you've had 30% moves routinely up and down, and, in fact, it's up about 30% off that january 24th low i think you're staying here and i think, again, they've shown that there's less pressure on this company from the regulator in china, and that truly the operational side of the business is getting better. i like it. >> all right certainly, broadening out, maybe less event driven in the future, thank you very much, coming up, uranium stock soaring as the energy trade lights up

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welcome back, "fast money. fed chair jerome powell signaling a rate cut could be coming in september, the dow gai gaining 462 points, the nasdaq surging nearly 1.5%. fedex shares, trucking higher for the tenth straight session, that's the transport's longest winning streak since an 11-day run in october 2013, and meta shares dropping after the tech giant cancelled plans for a high-end mixed reality headset that would have been a competitor to apple's vision pro. and bitcoin jumping nearly 5% today as investors bet on a rate cut in september and as wyoming's ramp up its crypto push for consumer payments, and this just in, cnbc.com reporting intel hiring morgan stanley and other advisers to defend itself

against activist investors in the moment there is no new campaign against the company however, activism has been definitely on the upswing recently, especially as it often tracks the market, feels like if there is no recession, then it's safe to kind of take these bigger stakes, not too surprising to see a company the likes of intel kind of beefing up its adviser war chest steve, you think bitcoin is ready to break out from here >> i hope so and i'm sure karen hopes so as well, and everyone is invested it's acted really poorly as of late and there's a host of reasons why it's acted really poorly but today when we heard the fed chair talk about interest rates moving lower, or i'm sorry, rates moving lower, you saw the reaction in gold, you saw the reaction in bitcoin, so, bitcoin and carter i'm sure could talk about this, $62,000 seems like a hump, so when you're above it the bulls start rushing in

when you're below it, the bears start rushing in there was probably a lot of supply that was on the market, that was a weight on the market and i think that weight has dissipated i'm looking for both bitcoin to pump higher, and i'm looking for -- i was about to use the word explode everyone gets antsy if you say the word explode it's hieb hyperbolic. >> it's a leg up, perhaps. >> very calm, a better way to say it. >> carter, what do you make of the move in the charts and these levels especially as it pertains to gold which had some kind of a correlation for the better part of year, right >> yeah, i mean, bitcoin is more correlated in terms of of course to the s&p than many would want or hope. not to gold. gold is a safer haven. there have been three 20% selloffs in the past four

months we're stuck in a range does it, indeed, break out to new highs as steve is suggesting it certainly has that possibility. my hunch is to buy it higher, meaning not here i'd rather enter with new money, as it's approaching the breakout level, here, we're still in the middle of the range. >> tech back in focus next week with nvidia headlining, a big slate of earnings, salesforce, dell, crowdstrike set to report for more on what we can expect, as well as the latest read on early stage companies, bringing in managing partner bradley tusk, thanks for being here in person, happy friday. >> happy friday. >> gearing up for a big week next week. >> yeah. >> a lot of people say now that we have kind of -- we're done with jackson hole, focus on nvidia and that's the next big tell for the market. what's your expectation? >> two key issues, one would be will they exceed earnings by even more than a billion or two, than everyone has expected the numbers are so big in a way it sounds crazy. a billion or two is not that material, but nonetheless, more

people are looking at that but the second really is the question of the delay they've had on some of their chips and how material and how serious is that or not, if it is a delay, that is, you know, relatively minor and they can work through it quickly keep trucking along and along. things in life always go wrong, even for nvidia, sometimes, if it turns out, we don't know enough about it yet, that the delay is more serious than people realize, then that's certainly going to impact revenue and that should impact the share price. >> first of all, thanks for being here. >> thanks for having me. >> on this friday. to me, it seems like it's a question of demand, not necessarily what they can fulfill. even if they're delayed a little longer than expected, they haven't even commented really on if that's actually true. say it is. but to me it seems like it's a question of is demand still beyond what they can supply even if they're back to where they want to be production-wise >> you know, it's weird.

it's a little -- for example, i'm annel stage tech investor, and we've seen over the last two years or so even as valuations have fallen, a.i. valuations have been really, really high. but we're seeing that start to decline. so, for example, the other day there was a company with $2 million in revenue that was looking for $110 million valuation, in any other form would be crazy, and in a.i. cyclical, if you want to be in a.i., that's how it goes, and they don't think they've got it. i do think that at least on the venture side it's starting to rationalize a little bit it may be the -- at the same time, there have to be commercial applications for it and we've seen some cool stuff around generativalike chatgpt, it's all still kind of like this could be amazing, this could be transformative it's not like there's that much p&l being driven. >> that valuation stretching from the 2020, 2021 era,

starting to really manifest itself i think there was that ft article this week showing that start-up failures rose 60% as founders face hangover from those boom years. >> sure. >> what's it like out there right now? how does that translate into the potential for an opening up of the ipo market >> yeah. >> as well as you being able to, you know, do your job? >> right, so the good news is, we're entering at certainly better valuations than we were a couple of years ago, things are much more rationalized why the public markets were taking private valuations, and the companies went public, cutting them by 60 or 70%, we were wildly overvalued now we're being more rational. that's a good thing. but at the same time for our market to work there has to be liquidity and there hasn't been any since 2021 whether it's on the ipo side or the m&a side, on the ipo side, the news out of wyoming is really favorable

they feel like the rate cut makes vc more attractive than fixed income is right now. the other part of it is can we get the ipo market going there's a lot of companies waiting to go public and for that favorable signal and the other part is the elections, what we know is we're going to see a change at the helm, no matter what, whether it's harris or biden, so, for example, when we were talking earlier about crypto, one thing that i think is really encouraging for the industry is gary gants ler is probably not going to be the -- even if it's harris, whoever she puts in there can't possibly be as bad when you're thinking about m&a activity, conn probably won't continue as the chair. the market would be interest rates, regulatory changes and hopefully ipos start going and that opens things up. >> when you look at the move in the russell, for example, that we've been seeing, and the continued rotation towards small

caps, that bodes well for the potential ipo activity as well, because that's a lot of comparables, so if those start to work, and it's not just this narrow market of large cap names that don't really -- >> you know, we're talking literally 28 billion revenues quarter of 31 or 25. okay, you can no go public with 300 million arr, or 400 million, don't have to be in that 500 million to a billion range, that opens up the market for a lot more start-ups on one hand, we shouldn't go back to where we were. we were in a rational period where the ratios were crazy, and people were getting valuations that didn't make sense at all. >> and money was free. >> and money was free. but where we are right now isn't good either because ultimately the country needs innovation, it needs new tech growth, so that the nvidias of 20 years from now are being born and you can't do that if venture investing isn't there and that does require liquidity. >> broadening out the ownership as well and going public and

advertising that ownership therein. bradley, thank you so much. >> thanks for having me. >> really appreciate it. coming up, we're getting you ready for a wild week ahead from those tech and retail earnings to full play of e-con data, the traders giving us their most important chart for the week ahead. going nuclear. inside the big rip higher right after this

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welcome back to "fast money," uranium trade, seeing best days since january as the world east largest uranium producer slashes production target today pip pippa stevens has the story. >> cutting its production outlook by 17% due to construction delays and shortages of acid, essential in the mining process, this market could remain very tight looking forward which is why we're seeing big moves in uranium mining stocks, kazakhstan controls 40% of uranium mining, calling them the opec equivalent for the industry

now, global interest in nuclear power is growing after russia's invasion of ukraine. new reactors are being built, and existing reactors are staying online longer, stressing supply chains and leading to uranium shortage fears, utilities will need 180 to 190 million pounds, 160 to 170 million pounds is forecast that is not a permanent solution uranium spot prices have pulled back since hitting a 16-year high earlier this year, but that overhang could now lift and just this week, leslie, china approved 11 new reactors back to you. >> pippa, a lot of cross currents in the market, thank you. tim, what's your take? >> real quick, the politics in uranium are front and center, they're easy i think they're getting better dynamic shortages that pippa talked about are real, there are

major utilities short, and players that are short it's going higher, but it's volatile. >> topping the stcharts, the mot important charts ahead of a huge week, around the horn next, more "fast money" in two.

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welcome back to "fast money," it's friday, and that means it's time for chart of the week but, with a twist, we thought we'd ask the traders for one thing they're watching next week, steve, kick us off. >> a leading indicator, when you look at economic data, initial jobless claims a leading indicator, jobs data, which is backward looking, but initial is forward looking, and if we're talking about chair powell, and rates, and a rate cut, you've got to look at jobs so you want to see enough weakness there to keep that rate cut conversation at the forefront. >> that's week before that september weakness you've been talking about. karen, what's on your radar? >> the game was, you can't choose nvidia. >> yes. >> what i did was pick one that i think was nvidia satellite trade. i think nvidia is the most important. that's dell. definitely, you know, very much in the a.i. space, a purchaser,

and of chips and also, obviously, storage servers and you get a little bit of the pc upgrade cycle as well. >> nvidia derivative, carter, what are you watching? >> if the key element is volatility, i want to focus on the nikkei that's been the most volatile of all, of the four largest economies in the world, u.s., of course, china, japan and germany, it was the number one performer before the global selloff starting in mid-july, the nikkei dropped the most, down 26%, it has bounced the most, up 23% from its august 5th low, and key here will be whether the nikkei can, indeed, reclaim its high. >> tim, what's on your mind? >> crowdstrike, i mean, this was the defining, one of the defining moments of the summer, and i just think it will be fascinating to see where we get. this is a company that was down at one point over 50%. it's come back a bit off the

august 5th drought, that everybody, ultimately, it's about seeing where, to me, the most dominant player in end point and emerging markets is, i think, still going to prove they are just that, they'll be conservative on the guide but i think people are going to be surprised at the pipeline. >> yeah, i have to wonder if it was by design they decided to announce their earnings on nvidia day up next, final trades. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot

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time for final trade tim? >> thanks, leslie, happy birth, dad, production is very strong, stay there. >> carter?

>> therapeutics, climbing ever higher in the ranks of the s&p 500, biotechnology stocks, much more to come halo. >> karen >> next week, lulu earnings, it's bounced off the bottom but it's still as low as it's been in a long time. >> and steve >> viking holdings, stay there. >> thank you for >> a special friday of taking stock starts right now. markets march higher as fed chair powell says the time has come. i am mike santoli. joining me now is paul hickey, cofounder of bespoke investment group. great to see you guys. thanks a lot for coming in. let's get to on the clock. that is the biggest stories of the day and the week. first up we start with