it's had enough for a little while right now about a $750 billion market value with apple's current price. >> there is that performance we were mentioning. something to think about when you go shopping for that next tablet. michael, thank you, as always, have a good weekend. "fast money" begins right now. "fast money" starts right now, live from the nasdaq markets overlooking new york city's time's square. tonight on "fast," talk about a wild ride for tesla, it just had its best week in four years, you think the good times are over? there is one more bullish piece you need to hear. also look who is having a good week. president trump incluconcludesi meeting with committee xi at mar-a lago and the confirmation of the people kurt nominee. is the trump agenda back on track neighborhood, next week, traders see having a tough number. we'll explain.

first, start with a troubling trend confirmed by the tough jobs report. only 98,000 jobs were added. >> that is only half the story. the real story, the complete decimation of the retail industry. in fact, it was the worst two month-period for job creation for retailers since december of 2009. ouch! is it setting a major warning for the rest of the market? and if these jobs that are so important to the economy are actually going away, what does it mean for the economy and the markets? guy. >> that's it. i thought the retail trade would auger poorly for the market. it hasn't yet. this has been the story for quite some time. you can argue the other way, listen, people are changing the way they spend money, they're not going to the malls, the stores. there is a lot of truth in that. then you overlay the auto number, which were disappointing. you paint that pastish if i may of maybe the consumer is in trouble. i think consumer debt is above a

trillion dollars nor the first time ever. you are talking about a major kink in the armor for the broader market. >> that being said, if you want to trade the retail space the three places continue to be home depot, which apparently is teflon and master card and visa, which are both in a whisper of an all-time high. >> that's a negative pastish. i do agree with that pastish. we haven't mentioned the border investment tax which would make that pastish worse. >> it would make it an awful lot worse. they haven't been able to get anything done, so the chances of it happening i think are relatively slim. if you look at the disconnect. right. we brought it out to the broader economy. they put out a gdp now report which forecasts what the gdp is at now. amazing name. it came down 0.6%. down from 2%. it's probably north of 3%. there is a massive disconnect. you better get this together.

i think it will impact -- it's obviously impacting the economy. i think it will impact the market at some point in time. >> the only problem is we talked about a gdp perfect, right on there, it seems like the economy should be getting weaker. guy spoke to retail sales. you look at the other side, the housing market has been good. so they're making it, moving out of the parents' basement, millennials, home buyers are buying homes, credit has to be available, which is bullish to me. retail sales negative. durable goods, negative. when you look at those things, there are aspects in the economy that work. i think retail, xrt is a buy right now. vat tax not going to happen. we seen it with amazon, yesterday agreeing amazon red does not happen that often. march looks works, april looks better. weather better. so you have a couple of things that are tail winds. so i do think at this point it probably is the tipping point where retail, those names that

were thrown out for a bounce. >> for a bounce. >> the set uplooks favorable for seven names because guidances have been leaving sandbags. so i would stay away, 100% from the lower quality names, you might think you get more vix because we have a bounce. >> more of a move. >> they have been beaten down. i would say, looking at skechers, it's a name throwing off free cash flow. they get 50% of the catch you're shore. they will have over a billion dollars in the balance sheet by the end of this year. that's a name you could say i want to own, burlington stores, a safe name. look how much that stock's held in. so you can make -- >> did you see the data points about under armor losing? you still want to own skechers? they're buying skechers, but not under armour? >> skechers are throwing off massive cash flow. it's shifting, it's turning. think stocks goes up. at the end of the day, those are names i am owning rather than

macys. >> we know write the retailer off. the sector, why own it? >> look when we said energy, when energy went to almost zero, right, why own it at all. here's the difference. >> in retail, it's a huge one, that is demand could bam come back with a stronger economy. do you think retail jobs, stores will go back up? >> hold on one second. amazon's kicking butt in the retail. right. burlington is kicking butt. adidas going online. >> it's brand, right? >> adidas is a massive brand. >> if you look at their december quarter, amazon beat on profit but missed on revenue. so it's not exactly like they're so moved by it. >> it's a secular share. >> i agree, to your point, they're closing stores, they're becoming so efficient. it is so set up for that bounce. i don't know if there is a secular change, malls are going more online. >> malls are dead. let me say, malls are dead. they're dead. so a company like wal-mart will

do well because it's set up to do well for a couple different reasons, we can talk about that on the show a stock like target will not. >> all right. so if you think malls are dead. you take a look at silent properties, spg versus prolong trust. what do silent profit do? they have the smallest mall reit in the country. this tells the story of retail right here when you go online, you need more warehouses less malls. >> that means less employees. so that ultimately has an impact on the economy. but if you want to play retail and that big shift that's tapping on. you boy plv. >> we mentioned that great interview yesterday on "squawk box." this stock has gotten lumped in with the rest of the reits. i think incorrectly. so i think if you look at the business plan there, they went to a retailer that might be a little squeeze, a consumer that might be a little squeeze. i this they have 95% or so occupancy rates and they pay a

tremendous dividend. so if you are looking for a place in retail. they get in. >> skechers, tanger is a name 4.2% dividend yield. this is a company with 95% occupancy. they're considered strip malls, if you will. people are going to those and their value, people go to those, so they're home runs. i love that stock. >> one major retail stock bucking the trend, wal-mart make it a top former on the dow. it comes after advisers upgraded the stock to outperform. joe feldman joins us now. joe, great to have you with us. >> thanks for having me. >> >> are we to believe wal-mart invested into escaping the fate of the other retailers that are being squeezed by amazon? >> we do. and we think they've repositioned quite nicely and are on a path to greener pastures. really, they've invested a lot over the past several years, they've cleaned up the stores a little bit. it's invisible when you are in the stores, you really see that. and they've tran six towards

this omni channel model with internet and digital better than most people gave them credit for doing. i think that that's, we're just at the beginning of that and as you guys were just talking about. as you kind of look out, three, five, ten years out, it may be a situation where you have amazon, wal-mart, home depot, costco, a few others, these big megaretailers should be among the winners. >> are you worried at about all about up creased traffic or biggest checks? it's partly because of the woes of the other retailers, wal-mart is able to capture that additional dollar from qohl's, from a target? and that's sort of a one offer until the other ones get off their feet and it becomes harder comps? >> well, no, see, i think that's because wal-mart is doing a better job they are capturing a customer as you guys were talking about a minute ago. also with the consumer under stress, wal-mart performs a little bit better. what we thought last fourth quarter, when they reported a few weeks ago, a month or two

ago. they would have had a lousy fourth quarter. you we heard all the department stores, others, target had lousy quarters, wal-mart took share. wal-mart is doing something, i think it's cleaning up the stores, the investment and pricing. it's all those things combined that has made a difference for wal-mart. >> joe, no question, the stock proves that, you look at target versus wal-mart, the change in the two of them the dichotomy is pretty stark. my question to you is, at what valuation is target too cheap and at what valuation is wal-mart too rich? >> well, it's interesting, we're using a pe multiple of 17 times to get to our price target of $82 right now and we have been key ba debating that. saying it's historically 16-and-a-half, somewhere around there. if we think they will continue to take share and be the leader with amazon out there in general merchandise retail, i think a higher multiple is warranted.

you know, right now target needs to prove that they can change things and make things a little better. we've seen bits and starts, listen, i had a buy rating most of last year, didn't work, admittedly so. we got off that, because i just didn't see it. i see wal-mart and amazon taking share, target is kind of squeezed in the middle there. >> thank you. what did we all do today, grasso? >> i am sitting on my hands. they've had every reason to crack. b.k. talked about it can't get out of its way. >> you said the markets have every reason, therefore, i buy? >> i still am long in the market. it liented up on semi conductors. for me i sold my quall.com, micron. i'm long the housing stocks an those deal names, but i am looking at the market overall as far as the s&p goes, i think you have to get back in if the market breaks above 2400 on a

technical bounce. then you have to start continuing to lighten up if we break below that 58 s&p cash. >> i remember walking to work this morning thinking that exact same thing, you wake up, seeing the future versus basically barely moved. we sent to himahawke missiles in syria. a teflon mark, obviously, a confidence, sort of like a symbol for the president. i looked at it and said i got confident with that the market feels like it's resilient and doesn't want to go down. >> so what did you do? >> bought more health care. i stayed with the health care and tech will continue to work. i think mna will be the best drop there. a lot of names will continue to bounce. >> for bk, he spent most of the day smiling. i was shocked by that upgrade. i was long, i thought the border adjustment tax would be dead. i think dead. this is icing on the cake. i think you can buy what looks like a breakout here. >> they've had a couple two good days in a row, basically about a

percent da today. this call joe made in wal-mart. he is absolutely right. he can outperform target in a meaningful way. i think that long, wal-mart short, target still works. coming up, a big moment for the big banks. will they live up to all the hype? the traders will weigh in. plus, trump and chinese president xi is winding up. the chip martz are on fire t. chart masters are seeing something in the charts. >> that could mean the end of fx 1. we will them you what that means when "fast money" returns. [vo] quickbooks introduces jeanette

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change your wifi password to something you can actually remember, instantly. add that premium channel, and watch the show everyone's talking about, tonight. and the bill you need to pay? do it in seconds. because we should fit into your life, not the other way around. go to xfinity.com/myaccount >> welcome back to "fast money". president trump wrapping up day two of his summit with chinese president xi at mara lmara lago >> reporter: hi, the white house presented a secretary briefing with tillerson and ross to discuss exactly what went on inside the closed-door meetings of the wide-ranging delegations from both the u.s. and china t. most urgent pieces of news i want to give you are secretary mnuchen said there could be increased sanctions on syria

coming down the pipe in the near term and also a report from the treasury in the near future would address the currency issue that they had been discussing about china. but from a bigger picture standpoint, here's what happened at the china-u.s. summit in palm beach this week. secretary tillerson said the two countries established a new framework, a new format for holding discussions between the two nation, they're broken down in four parts, diplomacy, economy and cybersecurity and culture and social issues, that i hope they can compartmentalize the issues they had in the past. specifically on north korea, which was the top agenda item facing each of these countries going into this meeting this week, the official said they discussed increased sanctions on north korea at a presidential level but no package deal for dealing with north korea was discussed. even so, the two countries are both committed to a de-nuclearized korean peninsula. then on the economy, they said

there are economic seductions under way. there is a growing rapport between the two countries and commerce secretary wilbur ross says they have established a 100 day time frame for both countries rediscussing trade. he did say they would have weigh stations at which they would try to grade the progress of the two countries in fixing some of the trade issues between them. namely, they discussed the challenges of china's market intervention and the fact that sit not a market economy and the effect that its agricultural and cyber security sectors are having on specifically u.s. jobs. they say china is committed to making trade more balanced and that is something that they will hopefully see in this 100-day period. now, interestingly, this comes at a time when congress had left for recess. the president will return to washington where he is the sole operator. when he returns after the end of

the weekend. but there are reports that there is some unsetsleing personnel activity that could be afoot in the west wing. this morning they reported the president could be interested in replacing his chief of staff reince priebus. this afternoon the "wall street journal" i should say, rather, reported there could be a shakeup for the role of priebus also steve bannon the chief strategist saw himself removed from the principles committee of the national security counsel. the white house tried to push back that any reporting to that extent was taking the momentum the administration had this week. >> that being said, we will see if the president chooses to make any of those changes with congress and with legislation actually out of the way next week. melissa. >> got it. kayla thank you so much in palm beach. was the meeting a december? the airstrikes on syria being viewed and the confirmation of the supreme court nominee, is it safe to say the trump agenda is

back on track? grasso, what do you think? >> i think it's tough to say it's back on track. i think it went a long way in making ma bipartisan effort, you have pelosi, schumer, ryan, trump, all these people agreeing on something for the first time. i do believe it was so contrived to have these missiles launched into syria while the president of china is there, to send him the message on north korea. like the whole thing. >> a whole planned thing? >> yes. >> just to forego -- >> yes, i think it was his way of sitting there with president xi saying, look, we can do this. we can go it along, all those news headlines blurping up before it even started. i think it was such a contrived message. yes, i'm a conspiracy guy. i think guy shares that with me. i don't think nothing happens for no reasons. >> i think it is actually -- in terms of like launching michigans, reset the agenda.

even if that is the case the agenda is sort of reset, he sort of galvanized the parties a bill, got them behind a single issue. you have gary coen on bloomberg talking about a tax plan they are working on as a top priority. he doesn't know about august but this year. >> the story, he did that speech, the state of the union speech, everyone thought it was great the next day it all blew apart. i don't have any confidence the trump agenda is back on track whatsoever. the story they may shuffle things around. maybe that's good. maybe it's bad. it certainly shows me, there is no chaos there. no continuity there. so how can you have any faith they will get things done? >> we need points on the board, back on track is crazy to say. we were never on track per se when it comes down to getting things accomplished. i say we talked about things the time line being pushed out. it's being pushed out. >> you can see, the market does -- what do you want? >> it's not going higher.

>> it's under it's own gridlock. it doesn't matter zpli want tax reform. >> they need tax reform. >> when you hear the comment out of yesterday we we heard comments right from the guests on the show that basically said, there is going to have to be a balancing act here. the president agree, we can't change balances. >> coming up, the year of earning, one of our traders sees trouble ahead. he will explain. i'm melissa lee. you are watching "fast money," first in business world wide. in the meantime, he's what's coming up on "fast". tesla shares had their first test in your years. if you think the run is done, there is one more piece of bullish news you need to hear. we'll explain. plus, amazon shares are closing in on $1,000. >> good lord! >> it sure is. but if you stick around, we'll tell you how you can buy 100 shares for 20 bucks when fas"fa money" returns. rise and fall...

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. welcome back to "fast money". it was a wild week for tesla shares soaring 8% after the electric car maker sold 25 vehicles globally. they surpassed expectations for the quarter, cnbc contributor was on "walk on the treat" today with his take on tesla. >> i have to say tesla may be

the ultimate storied stock of all time. it didn't just have one story, it has multiple stories going, every time people start to get a little fatigued the one of them, oh, it's an electric car. oh, it's environment ally friendly. he leaps to the next stories. these valuations stay in the stratosphere for many, many years. if the tore is good enough. and i think the tesla story is really good. >> wow. so with this in mind, are we buying tesla right now? >> well, yes. the shortened. >> i'm long. >> the short answer is yes. they've done everything necessary in order for the stock price to continue to go higher. just you want one little proof positive, look at the way they've priced that secondary. look at the way the stocks traded afterwards. again, my argument has always been, the people that own the stocks, the institutions that hold the stock are not setting it here. they will sell it at $80 if it gets that low, i don't see it

happening. they will take profits well north of it. they are not getting out of it. meaning the stock levitates higher. >> yeah, you buy the stock because it is a storied stock. it's great to see him get on board here. because this has been the game the whole time. you can't get a valuation. have you as to buy into the story. it takes faith. it can be rocky. it's working out. >> shifting to the fairway. final stradz, with the masters under way in augusta, they're picking foreign names that can each be a hole in one for your portfolio. >> when you look at volatility in the trump administration. i expect a whole hell more of it. gdx seems to react well inside the administration. >> skechers for me, i really think this is the name you want to toen own. it's a cash flow story. lit work out. i buy it here. >> i think it's coming up. >> i think he's got -- right there. >> yeah. >> do they make those for men?

>> ha ha. >> so you know when you're on a golf course, you hit one, you know you just connected on it, there is a long fairway ahead of you. wal-mart the one to buy. >> whole foods breaking out. >> that's it for "fast." . "options action" starts right after this break. and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. we're on the move. hey rick, all good? oh yeah, we're good. we're good.

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>> for the first time the game is getting back towing. while the guys are getting ready, here's what's coming up on the show. >> it's a guy, it's a bird, it's a plane. >> no, it's just shares of amazon, if you messed the move, relax. we have a way to buy it for just $20 bucks, plus, talk about a bank job! >> this is a robbery. >> after a run, financials have under performed in the market this year. we have more pain next week. we'll tell you how to pr