what the spell check turns it into on the way. >> very well done, michael. >>. >> we're out of time to circle back too much more to earnings. we get a payrolls in the morning. >> i think they're leaning strong because of the adp number today. today was let's hit new highs because we can on the first of the month. >> it was a good one. time for "fast money". >> this agreement is less about the climate and more about other countries gaining a financial advantage over the united states. >> ♪ money, money, money, money >> and as president trump makes good on one of his campaign promises to withdraw from the paris climate agreement the trump rally is back t. dow showing triple digits, snapping a three-day losing streak closing at a record high t. s&p

and nasdaq at record highs as well. financial itself, health care the best performing sectors. so which stocks back at record highs? and trump focusing on his pro-growth agenda. is this the trump rally restart? and if so, where do you put fresh main i money to work here and now. >>? >> i don't think it ever left. the market has been rallying for eight years. we can argue for why it hams. where do you put fresh money to work? that's the question. my answer is the following. financials have been horrible for a month, month-and-a-half and i have been wrong. but xlf against $23 is worth risk-reward on the long side. ibb very quietly had a big day above 290 again. biotech has an ability to break out. >> i think your point is well taken. steve, if the rally had stalled, taken a breather, taken a pause, over you want to characterize it, especially buying into the close has people asking, is the rally about to restart? >> i do think the rally is about

restart. today we have the first day of the month. i think guys took some chips off the table yesterday. i have been a seller recently. i am trimming some positions. still i am basically fully allocated. >> in the first day of the month when you see the s&p rip through that 2400 level, for me a lot of those hedges came off. guys putting new money to work. as soon as we blew past this, it's a vacuum. we go up from 24.50 pretty quickly. then you reassess. when we see the type of a news cycle today, you see the iwm try to start hedging a little bit or start to rally and catch up off 1% year-to-date. the s&p up 8% or so, can you see energy, industrials the iwm rally and play catch up. >> sorry. when was the last time you had even said, small caps rallying, transports rallying, the sectors that have lagged now, if they

start picking up steam, that's good for the rally. >> the ones that have lagged, they were doing extraordinarily well. big caps, google, down the last couple of days. that's done extraordinarily well, this year. i like banks, i'm with guy, i like going into this last i don't know month or two of sad performance, but i don't think the statements two days or yesterday about oh, we're going to see trade revenues down season matter. those are lumpy things, anyway. >> if you want to get low, growth, flatping yield curve, none of those are good for the banks, which you would buy a big bank here and now? >> i own three, the citi, j.p. morgan, bank of america, we seen the flag a long time. i think they are in a new paradigm month. they don't trade a giant discount. i think they are out of the doghouse. that's a goods thing for them. i think we are going to see loan growth. we'll see whether they can do

the capital, speaker buybacks, i'm seeing longer banks. >> why are we rallying? i don't feel any differently than yesterday. people wake up and say, ah, yes, what's the next move? i don't know that that's really what you are doing here. i do think you want to point to real things that happened today that adp number, 253 in the job growth, prelude to tomorrow's pay load report. mark xandy i listened to, said smart things about payrolls, he says the service sector is getting to the place we are two times the demand for jobs. at some point wall street gets the fed more involved t. macro is good. european pmi very good. you have reasons to say global growth is growing. small caps outperforming, you see actually what goes on with bond yields, kicking back up. we had gone the other direction. that's all this was. this was a re-allocation, day

one of the month. nothing to get too excited about. >> maybe it's nothing more than the pact the market is realizing the economy is good enough to carry the load that you are not so reliant on the trump agenda that have to happen by a certain time frame that the trump agenda is not necessarily the ice cream in the bowl, like people thought. it's the cherry on top. the improving economy is the ice breaker. >> i think the animal spirits have been awakened, whether or not trump is going to get done, that there the a break even. >> no known regulation. >> we talk about -- these are things people bank on. >> i think that the likelihood of tax cuts, i think he said we're ahead of schedule, which i find nearly impossible to believe i don't think the hardest pricing, will you have time for year term corporate tax cut or individual tax cuts. i do think it's done, i see the economy doing better. >> it's like this fear of missing out, right? if it's rally, via poised to restart, you just came out naturally, i don't think i ever

called you that. >> it's fun. >> he's often very frank. >> guys prefer it. >> if you have a large number of fund managers still under performing, this can quickly become the fear of missing out on the rally. >> and ryan kelly speaks to this all the time, he has said this for months now, few want to talk about animal spirits and the lack of the huge complacency, lack of concern, vix closes below 10 yet again, leaves me to believe people think the market is impervious to everything it throws at it. i said for a long time the market does not give you an ample amount of time to sell the highs. we have been around forever, by definition in my world at least means we continue to grind higher. >> what if you get a big jobs number tomorrow? >> we got to bounce back on the xrt, big deal, we have to bounce back on financials the injury is out. look at industrials, look at transports, these to me are the

value place and the growth plays. those are charts that also didn't have the same kind of damage i think as retail and financials. >> i have to tell you, the bullishness as much as i hear on financials. you hear it a lot. it's for the very reasons, you look at this stuff going on, if economy is improving, earnings is improving, why in the heck is the ten-year yield at 221, why did it go lower today? >> everything is so goods. >> it's terrible for the banks. >> inflation is still up 2%. that is probably looking at the wrong measure of inflation bety way, people are concerned the fed is going to push the economy, a flattening yield curve tells you exactly what the fed is, they're coming too late and a long policy. >> that causes a recession. is that what you are suggesting? >> i'm not suggesting we are getting a recession. i'm telling you, you want to know what the yield curve is going? >> it's a policy. >> it often ends. >> that could explain it. but you could also explain it with saying that we haven't really seen a rising rates

environment. we've seen utilities and yield plays out perform or we seen them at the top of the list. so i think people are sort of hedgeing their bets a bit here. you can explain away the ten year the same way as xous are as well. people are hedging. >> it's not the ten year that the banks are pegged on. it's much closer in, if you do get fed raising, which we will see in june. >> that is a positive for banks. >> if you missed much of the recent moves in the market, what can you still buy? let's go off the charts with rich ross of ever core. >> technology stocks are getting boring, i have three compelling setups that have nothing to do with semi conductors, everything to do with inflation. ten-year yields, look, you talked about it. this is that inflationary. it's didn't deflationary, but importantly, we're sitting right here at this 200-day moving africa, which has held osensibly

since the elect. goldman sachs soaring, let's call it 40, 50, 60% off the lows. now we've had this 18th% pullback, really a 30% retracement of that move and importantly, goldman is over soldman and it's sitting on 200-day moving aflg. this is where you want to be a buyer of this stuff. we now shift to another tent pole of that inflationary narrow of the transports. they've lagged. you got half of that just today. fedex biggest stock. this is a bullish start. you see this multi-year base of support, you settled into this bullish flag formation here. this stock closed at a new high, you are going to go even higher. i like fedex and the transports to get going, finally, we know that home is where the chart is this year, it's been a revelation with your home builders, et cetera. luck ber liquidator. guy, we call this lower lumbar support. it's like two years of a base

here, you've broken out. lumber liquidator. keep in mind, you are down from $120 per share. >> that being said, a beautiful base breakout here. this is a stock that continues to work higher. those are three lagers that can be leaders. i like what i see. >> let's kick this around for a second. can you take it anywhere you want to go, whether it's goldman. >> or mr. over soldman. >> i'll leave that for guy. i want to talk about fedex. you get back to the core business and the notion of the transports? >> the notion of the transports. i think you have a case here that you are getting both out there is a reason to get behind this. you also have a couple core companies, fedex is clicking on all cylinders. >> we have breaking news from the white house. let's go to eamon javers, who i think is still there. >> reporter: that's right. white house reporters briefing the reporters, we can't name them. a couple key points of nuance

here, one is that the united states is not officially on the books going to be able get out of paris accord until 2020. they need three years worth tore enforced in order to officially file a notice that they're going to withdraw and that process takes a full year to happen. so they say november 2020 is the earliest officially the united states can withdraw from the accord, that said, they argue that they are simply not going to enforce any of the provision of the accord, even though it will be officially on the books until then. they also say that they anticipate that despite the fact that we saw a joint statement from a number of european countries they're not going to renegotiate, they say here at the white house, they are confident that our allies and partners overseas will sit down across the table to renegotiate this teal with the united states. they would not say what the terms of the successful negotiation would look like and they also wouldn't say and they were asked repeatedly by reporters in the room, whether or not the president believes that human activity creates

climate change. they simply wouldn't provide an answer to that question. reporters says that's the core issue here in this overall debate. and the white house official saying, no, no, that's off topic. stay on topic of the paris accord. we will answer questions on that, not the question about the president's personal beliefs here. this deal would be on the book for four years at this point. it will happen right smack in the next presidential election in november of 2020. >> all this is france, italy and germany are saying to the united states already, you can't renegotiate this deal. >> reporter: right, they're saying you can't t. white house is saying, oh, yes, we k. they're about to. we'll see where that goes. >> thank you so much. let's discuss here. what do you make of this today? you are getting a lot of weigh-in from ceos very well known. general electric tweeting a short time ago, he's disappointed, mark bennioff of

salesforce. >> if the olive branch tore way to step back in off the ledge is to say we want to renegotiate some of the proportionate costs of the deal, it sound a lot like nato. this is a way to not be as aggressive, we want a fair economic deal, which why not fight for that? >> and i think that this whole thing seems to be a political rhetoric coming out of ceos. i think it's kind of cool to say, hey, we don't want to back out of the paris climate accord. when you really look at it, it's not going to cause more pollution. i don't think that's what's going to happen, companies are more fishy than they ever been. i don't think we will push the world into a global freeze. this is not going to happen. so i think everyone needs to take a little bit of a step back and realize that a lot of there is getting lost in the weeds. it's completely political rhetoric. i don't think this whole thing was to be a buy until 2020. so when we just commented on it saying we can't back out until

2020-2021. i think it's a moot point. it's a bunch of headlines. i think in a couple weeks when we realize the freeze is not coming down in the middle of time's square, it is all blowing off. >> it is interesting if you gets more of a backlash if you will from corporate america and ceos who are very willing to go to the white house and have meetings with the president, elon musk of tesla fame already saying he's not going to be a part of the council anymore. if there is a wider impact of fewer ceos. >> he should actually be in the white house more. because instead of going along with there 190 nation -- 190 country agreement, he should len how to effect or not effect -- >> who? >> elon musk. he has a greater boggs. i don't think he should be stepping away. he should be moving forward on it. >> coming up, a big box battle. wal-mart surge to a two-year high t. company is taking steps to combat amazon.

we will bring you those details. but it isn't all good for retail, whew, down 24%. let's call it that, that's restoration hardware. it is tanking after hours. we will tell you why. plus, the auto makers are surging after a strong sales month in may, there's one thing that could mean there is a struggle under the hood, though, we have a special report coming up. later, guy adami has one stock up 52%. >> look how happy. >> there he s. he is betting on more gains to come. he will give us his fast pitch when more "fast" returns.

welcome back to "fast money". two retailers, two different stories, lulu surging restoration hard ware, though, is tanking. jackie deangelis is in the newsroom with more. >> scott, good to see you, high end retailer rh plunging in after hours trading t. stock is on track to wipe out last month's gains, if it opens at these current levels tomorrow. shares are down after getting weak second quarter guidance. the company is saying it's taking a cautiously optimistic approach given certain macro-environments. shares are up 42% year-to-date.

you had two different stocks, lululemon shares are up in after hours, taking a little more leg higher as the conference call is under way the company cfo saying this quarter's online sales are growing in the low to double digits, first quarter comps and forward guidance looking good as well. shares are down 13%, though, year-to-date. >> jackie, thank you so much. let's take this one first, that's lulu. cramer tweeted something earlier, sort of like looking at the stock move, i mean, they took their numbers down, then they beat their lower guidance. >> right. >> so should the stock be up 15% on that? >> look where it came down and they missed in march. so the water was pretty low i think. i think they got penalized talking about they have missed on the merchandising. >> they blamed everything on the mix of color. >> neighbor i maybe there is some truth to that, it was too

high before. >> that's funny, maybe you shouldn't be too surprised if you we heard the cfo after the last earnings, the stock took, you see there, everything is good. we just fudged it a little bit on the color mix. maybe this is representative of what he was talking about. >> i think karen can speak to this. i think it was too much competition in this space. it used to be owned by lulu. they were the new and the fresh look the new kids on the block the growth oriented dynamic to buying lulu, but to karen's point, it's down over 20% from that march high. so we're not even backtrack to there. we're straight back to 66 or so in march. i think if you have the luxury of taking chips off the table, i'd probably do that. >> what about our h? >> tim was on this one earlier. this was the $28 stock, i think tim my started talking about this thing. it rallied up to $66. it appears it's a relatively fair stock.

with a full year guidance, it's still expensive. now the question is, are they sandbagging the whole year? for some reason it's not apparent to us t. quarter was actually good. this move down to basically $43 is a 50% correction of this entire move we seen basically from 20 up to about $60 give or take. so i think there is a real goods chance to be able to buy this stock tomorrow up 42.5 dollars with a tight stock on what will be a huge volume day. >> i think their sales growth is taking some time, obviously, but i think they got it on the 11th. that was knocking the stock down, too, so i'm a little surprised by this even though i think for this guy the story in home improvement should include restoration hardware, they had inventory trends the new club deal, it's slow to get people involved. it's a name you watch. you don't need to buy it here. >> shares of auto plaik makers up, despite weaker sales in the month of may. phil, what itself the read here?

>> not a pretty month when you look at how may is. we will show you how weak the sales are, look at what the sales were like for the four largest auto makers in the u.s. as you look at this list, keep in minds that only ford and fiat criesly did better than expected. ford was the only one posting positive sales. they outsold general motors for the month. why is may nobody will be looking back on with fond memories. when you look at what happened with a three-month rolling average with auto sales this comes to us from the weakest three-month round from july 2014. many believe this is going to continue from here. overall, the annual sales rate at the beginning of this year, scott, a lot of people were saying, hey, i city we can get 17-and-a-half, maybe 16 million. most are saying 17.1 million at the most. yes, the auto stocks were up today the reason they were up, when you look at the numbers within the numbers, most of the

invent centive activity looks to be relevant ditchly disciplined in relation to where the industry was in april. up year over year compared to may of last year. we didn't see a growth sequentially from april to may. >> that is what a lot of people are hanging here that's on, maybe we see some discipline within this group. they have been beaten up. who wouldn't want to pile into them for a little bit? >> i'm sure you get asked this question a lot, though, do people come up and say, phil, are we at peak auto? what do you say? >> yes, we're past peak auto. we are now in a plateau to a very slight decline. i don't think we will drop down to 15 or 15.5 million in annual sales. but i wouldn't be surprised if we continue trending down into that 17, 16. 16.8 million range, which is still very strong. we will not be close to that 17.5 million. >> thank you very much. so if the guy covers autos closer than anybody says we have already hit peak auto at ford and general motor versus stunk

up the room for the year, what do you do with these stocks now? >> they rally on a bad number day? isn't this kind of telling you what i think the stocks are supposed to to do, as expectations are adjusted probably for the last two years. also, these numbers were the best ever, up 13% year over year, so most profitable unit. their branded suvs were up 6.51st. these numbers weren't a joke. i think they were telling you where the business was going. i don't think they are giving away the house. >> long g mr., which is a difficult year, it's up today. but it should be up, the multiple, the gm, it's trading at, it's not a peak auto. it is expecting a real sell-off. so to the extent we see a smaller sell-off then to see a higher multiple, it would make sense. >> car pricing has been a problem. that's been a problem as well. i just believe this out to the rental car business, everything

e everyo everyone is left for dead, hertz pushed out debt maturitys. we we heard saying fleet sales will be down. >> that will help hertz and cr avis. >> still ahead, work day reporting earnings, we are monitoring the company conference call. we will bring you the headlines. they are moving the stock you can see there, we'll tell you why. i'm scott walker, you are watching cnbc. in the meantime, here's what else is coming up on "fast." >> don't look now, wal-mart shares are on a rom. striking back at amazon and staging a being rally of its own. something to suggest it could go even higher. we'll explain. plus, guy is bringing the heat, pitching one stock up 55% this year. he says it's about to hit the jackpot t. name when "fast money" returns. new bikes aren't selling guys...

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welcome back to "fast money". we are live at the nasdaq market site tonight. it was a record day for stocks. the s&p dow and nasdaq closing at new highs. here's what's coming up in the second half of the show, biotech stocks getting beaten up over the last month, but it made their drug conference, kicking off tomorrow could create a boone for a number of key players in that space. we'll give you the big winners and losers. guy is doubling down on one of the hottest stocks in the s&p this year. can he convince the other tradeers to buy in? he'll deliver his fast pitch. we start with wal-mart hitting a two-year high the retailer beefs up it's competition with amazon, courtney reagan is in arkansas

with more, hey, court'. >> reporter: hi there, scott, 95% or thereabouts of wal-mart's business is still done in its stores. but the online business is that fast growing segment. so today wal-mart announced another innovation to leverage those stores to make the online experience better. wal-mart is testing employee delivery of wal-mart.com and jet.com packages in three cities, two in new jersey one in arkansas. al mart says the prom is voluntary if employees at the end of their work day want to participate. they sign into wal-mart's proprietary app. they figure out which delivery may match up with their route home? it's the point of it is to actually minimize any extra driving that the wal-mart employees would have to do, while also compensating them for basically driving home anyways, for wal-mart the goal is to cut down the cost of that last mile delivery and consultancy fee

mackenzie, the final leg can account for 50% of the total cost. it gets wal-mart a lot closer to same day shipping. you may remember last month, wal-mart announced it would give shoppers a discount if they picked up online only items in store instead of having them delivered to their homes. around that same time, annualson dropped its free shipping bristle from $25 to non-prime members, but mark lori, who runs wal-mart e-commerce is not as sweet as amazon. >> a deal with two-day shipping membership, we don't know another retailer that has thattime type of competition, any retailer at the lower threshold should times much longer. >> tomorrow is going to be mark lori's very first wal-mart shareholder meeting. we know there is a lot of pomp

and circumstance involved in that event. it celebrates wal-mart's associates aed the hard work they've done and all the hard work that is still yet to be done. >> thank you so much. >> wal-mart has had a nice comeback, leave it at that. these trends are not good for them. because their u.s. comps are hovering at 1%. they're getting traction. major price commitments, major competition. that's it. i wouldn't touch it. >> all right. >> that takes to us our move of the day. take us to xrt, it surged more than 2% for its best session since late november. wal-mart, lowes, helping to drive it today. for the talk of amazon killing retail, these names have actually held up pretty well, home depot and wal-mart up 15%, target a big loser in that group, though, down more than 20%. so should you bet on the big

box? what do you guys say? >> i think target is a shot. i think quickly, target is worth a shot here i think, if you like wal-mart and what they're doing, closer to 18th times fuller earnings, if you think they are making the turn albeit a slow one against $54 which we have talked about now for the last month-and-a-half, i this i the risk-reward target is up on the long side. >> if you look at something else down the food chain a little bit, j.c. penny was at a heart beat away, it was at $4.56, it's at 4.86. you take a risk on something like a j.c. penny, rrt had a bit. >> would you take a risk? >> i have been in and out of j.c. penny, i think that people equate this to it going out of business. sears has been going out of business for quite some time. they generate a whole ton of free cash flow. could they all be going out of business? to take a risk reward, knowing

what your downside is, i don't think it's necessarily a bad bet. >> a major drug conference can be a big move. who the winners and losers could be. plus, it's guy's time to shine, he is picking the one stock he is calling a home run. it's up 52% this year. we will find out after the break. the power of the nasdaq market. the power of 100 of the world's top companies. the power of an etf. the power of qqq. the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc.

welcome back too "fast money". shares of work day volatile in the after hours despite an earnings beat. >> reporter: hey, there, scott, after hours shares are down at the moment about 1.5%. this after the company went past estimates. they built in profitability on guidance. the company says its full year revenue guidance is between 2.08 to 2.vague billion. that's a slight beat of estimates. the company beat on the 2/2 guidance. another key is reporting just

shy of the prescription estimates. it's also a 42% increase in year over year. workday also raised its guidance on four-year subscription estimate and the q2. >> that estimate will be 420 to 423 million above analysts expectations of 411 million. they are looking for deals with big companies, workday says its climbs include nasdaq and aventis health care. they are working on expanding tear international business. make sure you watch on "mad money" tonight. back to you. >> dee dee, we certainly will. "mad money" with jim in a little while. >> i think the stock is up 50%. it's high growth peers in the stock growth space. if you put it in multiples, it's a $75 stock. that's great news, i don't think there was enough in these numbers. >> in the same space, sap, crm,

all these different guys. i do think that valuation is going to come into question. even though growth has been trending higher. eventually, it becomes a recipe for disaster. gow with s&p at this point. >> valuation the quarter was fine, operating margin is better than the street was looking for. everything is fine, you look at the valuation trading close to 105 times, neekt year, this year's numbers, it wasn't food enough. it's a great company, too rich. >> all right, switching gears. it is time for everybody's favorite game t. fast pitch. we have one trader pitch a stock they think is wore atmosphere buy. when they are done, traders at the desk will vote whether they are buying or selling that pitch. today guys gambling on one casino stock. which is it? >> i'm going to make my way over to the plasma, we don't call sit the smart board anymore, we call it the plasma. i can't be that smart. so winn resorts, you say to yourself.

winn resorts, how can you pick the stock, it's doubled, 260 to 120 in change. you would be correct in that. it has doubled. look at their eps growth, the this inc. is trading close to 23 times forward earnings? eps growth is up 20%. why do i like it? these three reasons, the macaw numbers today were ridiculously good. it shows that winn is absolutely making head and shoulder strides better than their peers, macaw growth number one. steve winn's leadership in his ability to put his money where his mouth is. he was buying the stock hand over fist 15 months ago, he had a $60 hand him. he continued to buy throughout the year. he believes in his company. you should, too, there is a las vegas revival. they have huge opportunity there that they haven't gotten around to, because they're still too busy in macaw, for all those reasons, i think winn despite the move is still worth a look here. >> on macaw, do you have

concerns on credit being pulled back and ultimately how much of the valuation. >> heavy question by you, steve winn, pardon me when we were in las vegas. he said although it's a concern, it's not a pressing concern for him. if it's not a concern for steve winn at this point, frankly, it's not a concern for me. >> when you look at the las vegas opportunity for winn, does it make you say, hey, maybe we switch and turn this game on its head and go with mgm now if we think las vegas is going to be getting better too? that's been left out. macaw has garnered a lot of the headlines? >> i don't think it's one against the other. if you ask me to pick between wenn and las vegas sands, it would be winmgm and las vegas sands in that order. steve winn said himself, they have a huge piece of property in las vegas that they're looking to build upon, they just haven't gotten around it to. so although macaw is the -- it's

the growth engine, there is still a huge opportunity for them in las vegas. >> hey, one last quick one, guy, how much is this new start particular to winn versus the industry at large? >> it's 30 part industry, 70% winn. that's how well winn is out pacing their competitors. i got to tell you something, if you look at the entire space, everything has been on fire. i think winn is the best in show right now. >> we are voting on the desk right now. tim my, karen grasso. >> i'm giving him a buy, i am a big believer, it's a valuation of roughly ebitda, the valuation trends are interesting in vip for them, not everybody. >> i'm going along with guy, he's a buy. steve winn is phenomenal. he doesn't seem to be selling any stock. a little pricey, still. >> but i'm buying a leader, i think steve winn is an extraordinary leader. i want to be a buyer as guy said

on mgm as well. >> all right. we give it a home run. congratulations. >> brilliance. >> we got to let the folks at home decides. >> that's right. >> and, because. >> that's what happened to me last night. >> i was going to read that. by all means. >> i'm going to point out that -- >> i'll do it. you can do stocks. >> that's how this works. thank you, scott, please. did guy's pitch for winn make you want to buy the stock? go right now at cnbc "fast money". we'll reveal the answers later in the show, plus, biotech stocks the nasdaq continues to make high after high, but one trader is betting the group can make a major comeback. are you watching "fast money" on cnbc, first in business, tim my, world wide. >> wise guy, scott. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh.

and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab.

. welcome back to fast moimp. some call it the super bowl for drug stocks. some of the biggest names gathering tomorrow at an annual meet income chicago, meg terrell is here right now with all the details about this five-day extravaganza. meg. >> that's right, it's called

asco, clinical oncology, companies working in the huge cancer space, more than $100 billion in annual sales going towards cancer drugs are going towards this. lots of data will be presented t. main theme is immunotechnology. they fight cancer. it's an analysis by ssr health of the data presented at that meeting. bristol-myers squibb has 89%. they presented amino therapy followed by merck, astrazeneca, robber and pfizer and that seems like an important one, it has been a mover this month on data dropped ahead of the conference, we could see more movers next week, inside testing if the immun no therapy from merck and bristol-myers. >> that will be a big one to watch. another space people are watching closely is this other form of card t, this includes taking patient's bones out of their body modifying them with cancer and giving them back.

this has been advancing juno, kite and bluebird, they're up ahead of this conference, finally, puma biotech had a big move this month based on data. >> i'll say 100%. >> a big move understated really because they had a positive fda panel vote on the breast cancer vote. we will see a competitor from raush early next week. >> you want to trade some of those names, the ones meg mentioned? >> kite has been a favor amongst the guys that i cover. we seen the tail of a binary tore, to say the least, it seems as though the wind is at their back. i guess the question is, how much has the rhetoric subsided? because that was a truly bipartisan issue when it came to pricing of these drugs. it seems like that has gone by the wayside, ibb is up 7%.

matching the s&p performance. i think it's not all clear, but guys are definitely getting back into this space across the board. >> do you expect to see mergers out of this? this is like a giant speed dating party in chicago. >> i think biotech are hoping it's a giant speed dating. i'm not sure we seen the bomb. there has been a dearth this year. they are hoping that brings back the entire state. even as we have seen valuations pull back in may a little bit. people think targets look a little pricey. we we heard mna chatter around guy's tesaro. people are saying, oh, looks pricey. we might see people holding off as buyers. >> tesaro's price, that i have to ask, what's a risk-reward? we established it on the down side, it basically sold in the last month, month and a half, it would somewhere between 210 and

225. geno therapy putics interested me. the risk-reward, if they get it right, the stock doubles. if you want to play at the hundred dollar table too me it's geno therapeutics. >> it's a political risk. and i cannot play knowi they wil have a trial coming out. if lay the space, it would be ibb, i am long one, valiant the three of us are long. there is life to this option. >> thanks. >> and simply, there isn't, things that concern you is why i own merck. you have a trade, it's having a big run. you are not tied this. >> that's next. >> thank you, guys. >> thank you, see you from chicago. sticking with biotech, the biotech etf is surging nearly 3% today. one trader is making a big bet.

>> that rages on. mike ko brakes down the "options action" for us. hey, mike. >> reporter: hi there, yes, by about 1:00 today, aflway through the options trading day, they saw two times the daily call volume, that was largely from a september 85 asymmetric call butterfly. basically what this trader is doing is betting it will run to that middle strike or $80, that's an invooes crease of about 15% where they closed in just over three months. to karen's points, if you were going to biplay it, they risked about $250,000. it could be worth 1.5 million if it hits their target by expiration. >> ibb. look at that, can we get that shot of mike ko up? first of all, look at this shot, for you "just as" fans, doesn't that look like the setting when blooper shows up on the dock

looking for sheriff brodie. >> chief brodie. >> may i say something? we are not far from this point. this is massachusetts. >> that, of course, took place on martha's vineyard. >> you don't have to sell me. >> check out this chart of tech versus biotech. you seen quite the divergence in the past month. tech is up more than 3%ment biotech down nearly 3%. why are they lagging behind the tech in the broader market? is it the political risk? >> i don't think it's political risk. i think it's actually in technology, have you some megacap companies with earnings profiles supportable. ibb, even of those top couple names, gilead, there is questions about their business model, what they will do with their cash, it doesn't surprise me they're up a point. >> we were talking about a binary issue, when you do you el with these biotech companies. when you deal with those large cap tech companies, it's not a

binary issue. there's plenty of live i different levers they can pull. there are plenty of different things to tap into to drive the markets higher, people generically are afraid o biotech. >> i get it. >> for more "options action," check out the full show tomorrow 5:30 p.m. eastern time, yours truly. >> all right. >> we'll be here. we do have a news alert on lloyd blankfein, jackie deangelis is headquarters with more. i think i know what this is about. >> reporter: actually, scott, it's his first tweet. so you guessed that, you were right. this is the, @lloyd blankfein. he said today's decision is a setback for the environment and the u.s.'s leadership position in the world, linda hirsch parisagreement. he already has several hundred retweets here. back over to you. >> jackie, thanks, it is his

first ever tweet from what we can tell and what else people are saying on twitter. up next, will guy win you over with his fast pitch? there is still time to vote t. result when we come back. [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat? in-app chat on thinkorswim. only at td ameritrade. this is a story about mail and packages. and it's also a story about people.

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. welcome back that "fast money," america has spoken, the verdict is clear, it's time to see if you fought the pitch to win, drum roll, more than 60% of you said yes! that-a-baby. >> that's what i'm talking about. >> i'm talking about work. it is time for the final trades. let's go around the board. tim. >> they tell me in my ear. >> guys talk about starting target, short wal-mart. hold at 53. >> i was going with guy, stay right there. >> maybe there is life in the autos, gm, cheap, even if we are past peak. which is true.

multiple, and 4.5%-ish deals. >> life for avis. shortage 38%. they don't have a lot to make this spike higher. >> prom season, dance with the girl you brought to the prom. winn resorts. >> "fast money" again "mad money" with jim cramer begins 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. i promise to help you fine it. "mad money" starts now! >> hey, i'm cramer! welcome to "mad money." welcome to cramerica. other people want to make friends, i'm just trying to make you some money. my job is not to just train, educate and teach. call me or tweet me @jimcramer. today, the market earned back some trust with the dow gaining 136 points. s&p 500