st steve grasso. >> viking holdings. i bought this two months ago. staying long.gher. >> tim. >> disney. i probably bought this at 130. it's in the low 97s. no. i would say disney is something that looks cheap on the sum of the parts. >> karen. >> yes, as much as i love netflix and they have won the streaming wars for sure, i have to sell upside calls. >> dan. >> software, i would be a little cautious. >> tnkhas for watching "fast." "mad money" starts right now. >>> my mission is simple. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. mad money starts now. >> hey i'm cramer. welcome to mad money. welcome to cramer. i'm just trying to make money. my job. not just enter stain entertain but put it in perspective. i get up 3:30. some

on the desk tonight, steve grasso, karen finerman, guy adami, and katie stockton. guys, what a day to fill in. >> yeah, and carl. >> hall of famer. he's in the hall of fame. like in golf, you can make the hall of fame while you're still playing. that's carl. >> let's begin with the dow today, surging to that fresh record high. industrials far outpacing the major averages, up 742 points. biggest gain since november '22. s&p notches a record close. nasdaq with a small gain. but beating all of those, small caps, russell 2,000, 3.5%, highest level since january '22. over the last week, it's outrun the s&p by ten points. and then check out the sectors. industrials up 2.5. materials, discretionary closely behind. micron, crowdstrike, nvidia, along the laggards, each down about 2%. as for market broadening, check out the equal weight s&p. it does continue its outperformance, up almost 5% in a week. is today's action confirmation of a shift in the market narrative, guy? >> it's clearly a shift. and again, great to have you. i'll say this, if you had told me that nvidia wou

on the desk tonight -- steve grasso, karen finerman, guy adami, and tim seymour. >>> the nasdaq now more than 7% off of its all-time high, hit just last week. the s&p 500 snapping a streak of 356 sessions without a loss of more than 2%. and the dow falling 504 points. the pull-back comes as the first two mag seven earnings reports of the season failed to impress investors. tesla shedding 12% today, its worst day since 2020. it's now erased all gapes since that better than expected delivery report at the start of the month. alphabet tumbling 5% after its report. the pain felt throughout the megacap tech space. the mag seven losing $760 billion in market cap during this session. that is almost as big as an entire eli lilly. so, is this just the start of the great rotation out of big tech? how much more pain still could come, guy? >> i mean -- 356, 2% move? see, i thought that would happen 256 days ago, but we're finally -- so, but here we are. okay. >> only off by one. >> a little bit. it's all good. so, you look at a couple things. we traded down today, we held -- we closed right at the 5

i'm melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- steve grasso,rtney garcia, dan nathan and julie biel. >>> we start with netflix. shares briefly turning positive in the last few minutes. the company saying it added 8 million subscribers in the latest quarter, and that is ad tier memberships rose 24% from a year ago the conference call starting 15 minutes ago. julia boorstin has been listening in julia? >> melissa, netflix shares did drop lower on lower than expected third quarter revenue guidance, despite the fact that the company is starting the third quarter with far more subscribers than expected. we have seen shares make up some of those losses. now down just fractionally this after the company reported a big subscriber beat. 8 million subscriber additions versus the 4.8 million estimated, and after a number of quarters of subscriber beats netflix warning that its third quarter paid net edition will be lower than the year ago quarter additions, which was nearly 9 million, and that was the first full quarter where the company saw the impact on

on the desk tonight -- steve grasso, karen finermand m, but keeping hopes alive for a cut in september inflation continues to cool. we'll get more on that shortly. but first, meta earnings. the stock is up 4.5% after reporting a beat on the top and the bottom line. the call just getting under way at the top of the hour. julia boorstin has all the numbers. julia? >> that's right, melissa. meta giving third quarter revenue guidance in a range ahead of the analyst consensus. the company also narrowing its all-important capex guidance, bringing up the lower end of its capex range to between $37 and $40 billion. that's up from the prior $35 billion that the company gave last quarter. so, in the earnings release, the company reiterating its commitment to investing in a.i., saying, quote, while we continue to refine our plans for next year, we currently expect significant capital expenditures growth in 2025. as we invest to support our artificial intelligence research and product development efforts. now, the daily active people on meta's family of apps increased 7% year over year to 3.27 bil

. >> steve grasso?est roc deal makes them one of the largest paper and packaging company. different symbol, sw, same great potential. >> dan nathan? >> yeah, pfizer. if this thing gets any traction in the glp-1s, it looks like it's ready to party. tim's pfizer. >> guy? >> be sure to catch cnbc's melissa lee tomorrow, 6:00 to 9:00 a.m. on "squawk box." you are killing it this week. you know what else is killing it this week? check out letter m, sister. >> all right, thank you for watching "fast." see you on "squawk." "mad money" starts right now. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it. "mad money" starts now. >>> hey, i'm cramer. welcome to a special shortened edition of "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you a little money. my job is not just to educate but to teach. call me at 1-800-743-cnbc. of course tweet me