>> it's a real net benefit you still have those that does it for "closing bell." "fast money" begins now. >> "fast money" starts right nouchlt live from the nasdaq market side overlooking times square, i'm melissa lee. your trards are -- tonight on fast, general electric hitting its lowest level in nearly two years. as sales drop, what can turn the stock around plus, 13,000 is on deck for earnings next week and one trader thinks the name could be about the crashing down and later, the dollar sink iing to s lowest level in more than a year as the ur o spikes higher. is it a warning to the rest of the world? but first, we start off with

fate of fang stocks. hanging in balance facebook, amazon, alphabet, all on deck to report. these stocks have been on tear all year will we see similar action to the other names on deck? >> we're going know monday after the bell google, the names just mentioned sh b b, probably the most reasonably price i think facebook still has the most upside, but if you're looking for safety in a stock pick in terms of evaluation, i think it's googled >> i know you're an amazon file. >> big time. >> the issues they're having in europe

amazon thinks it will be >> skeptical when buying these names, the fact it was last friday or less than a week ago, said buy netflix ahead of earnings it was 100% right. 100% right, so i in these names, i think you're okay buying them. it doesn't appear to get punished that's the one going on. >> the storm, everyone played it against it, so i don't think you see the pop. when they're right now but they

will all climb higher. >> isn't that actually where the stocks are rig now in nasdaq had record highs in we just need to sort of -- the big tax something like a google where you had international exposure it's the same story we've played for a long time now still can't continues. so as long as you don't have an earnings hiccup or warning >> those things, the fastest to go up. and they're also the fastest to go down. i mean look, amazon, i think the set up in the second half is so strong and numbers are going to have to go higher. i think as far as earnings are concerned, they're going to be fine no question we koent go straight up forever

understanding the long-term set up >> anyone buys amazon says it's cheap. i think to your point of the reaction coming out of the names, with netflix trading up 10%, that rotation is definit y ly put on hold >> fear of missing out >> google. you know, one of the analysts that's done a great job has been canter fitzgerald. they reiterated their overweight ratings. said that channel checks are locking outstanding for the name and i think if the names you mentioned, valuation wise,

despite, i get that it's a $1,000 stock it's not expensive on valuation. >> the flip side though is if they deliver, steady eddie, no big surprises to the downside, that it's a sell >> no. google or -- >> on fang in general. >> google is a problem because there's a lot of advertisers keeping an eye on what's going on in europe with this whole thing with their ads that is going to be a problem. so i think it's a no touch until something gets disclosed on that outside of that, facebook is fine and i think again, amazon is fine. >> i don't think it's a solid news steady as she goes no big hiccups b and i can't see any of these companies really having major hiccups to displace the market price as long as the s&p hangs in there, as long as the s&p doesn't get a sell off, all of these names go higher.

but the reality is until proven different, you got to think about what would stop these stocks or growth in general in the economy. rising dollar. we haven't seen that yet those are the things that might help these stocks. other than that, it's simply the rotation and the point is, the alternative than they still have the growth everybody's looking for. >> a change in sentiment, another sector you can see a large cap m&a transaction occur then bang, the entire group will explode. >> unless you see, bio tech has been performing well, so if you see energy companies next week, exxon mobil, chevron, halliburton, anadarko, a lot of

people are are in bio tech we're spending and investing and that's going to scare the heck out of investors >> if people are forced to short cover, that's what people have to come up with real dollars to come up with with and those names, the fang names will be used as a dip. not saying it's going to happen, but that's the big question. >> that has happened exactly what steve is talking about has happened all year long, when there's some of them elsewhere in the world, in the market, the fang stock rs the ones used as the atm, i got to git get my cash out of something. they're big and liquid >> well, our next guest is reading the tea leaves ahead of next week's earnings an he says there are a few warning signs you should be aware of now joining us from st. louis, hello, scott what warning signs are you looking at >> well, melissa, for the overail market really because you guys have been b talking about tech about these fang stocks and really for us, over all,

technology, the valuations there for the sector has a whole are not stretched. but when i came on the show before, we talked about head winds that we see here here in the second half. market valuations are stretched. you've got a 20, 20 plus trailing mull principle dwens a 16.4 20-year median. we've got the fed hiking rates and we still think that late this year into 2018, people are going to look ahead and say, gee, i think some higher wages and higher labor costs are going to negatively affect gross margin we're in the pullback camp last time i was on the show, you said i was in the bear camp, which we are not but we are in the pullback camp. 5.5% above the top end of the range and i think we're going to get there by the end of december >> you're in the bull minor

case less bull than some of the other guys on the street you mentioned valuation, but the backdrop to this of course is this interest rates still remain extremely low. and we've got interesting developments abroad where the ur o starting to two year could we actually be seeing what would favor u.s. equities. >> well, you know, melissa, last week, maybe it was the week before, we touched the 50-day moving average a couple of times and bounced off. i would largely attribute that to being a big factor here in the last 50, 60-point move nup the s&p 500. and so, i think that's you know,

that's a big thing and the economic news we've seen lately, over the last couple of months, is really the type of of information you would say, gee, they may not give us interest rate hikes in 2014 the market is going to be paying attention to what the fed is going to do in 2018, so ipg those two factors, a fed that is likely to be easier rather than tighter and a weaker dollar, i think that's giving us this push here to crawl to these new highs. >> got to leave it there have a great weekend >> thanks. >> wells fargo investment institute. you're nodding your head >> right because exactly what scott said unless there's another alternative out there, you think about what it is if you get this slow growth environment and fed that wants to normalize despite weak new, then you could see a pull back in these stocks because they are dependent on a weak dollar, low growth environment because

they're the only ones with growth that's always been the risk. you see rising rates in an environment that rates should not rise, that's going to be a b problem. >> what other stocks are we looking at the next week, huge 13 dow stocks are reporting. a whole host mcdonald's >> i don't want to jump the gun because there's another show on in 19 minutes. >> your countdown. >> we set for quite some time, it's a 116 f handle on it. >> twitter for me, it's interesting. worst run, this is going to be sort of a very interesting story because the numbers aren't necessarily going to matter. the most important numbers are a user growth number we heard from the cfo. we heard about ads and the second half, we're going to get more challenging, so, in general, they had a really great print on their last quarter on user growth. if they can get to 7 plus million users, the stock could work >> i think the most interesting

thing for me a host of energy companies that are going to be reporting next week, also, so i'm going to counter his mcdonnell's with my domino's pizza. that one has performing what it looks like, let's see what digital looks like >> that's a slice here of the portfolio. >> yeah. if you do that on options action man. >> you know, be right back >> clever. >> coming up u, the latest addition to the trump administration spent some time here on the "fast money" desk. the trader wills give you the scoop on anthony, the new director of white house communications plus, bio tech has been soaring, but if you missed the rally, don't worry. how you can get in for less than five bucks and later, general electric versus honeywell, both stocks reporting this morning. one trader says there's a clear winner much more "fast money" still ahead.

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exchange for the details >> the euro hit its highest level of the year. that's a big problem for european companies like automobile so all the big auto names down 3 to 4%. vo all week. big european industrials that also export were weak. that's is second weakest day of the year for germany that's there's a couple of things the european company has been improving. stocks surged to the highest since macron but there's a secondary story that's causing a lot of confusion. bond yields should be rising on the strong economy story, but they've been dropping recently including today. that's odd

shot up like a rocket when draghi made comments that seemed to imply that rate hikes might be coming sooner than everyone thought. boom, everything goes up draghi has had to rake those back so, it's a mess. the bottom line is this. expect more volatility as the markets try to figure out both the extent of the global recovery and swrus how far central banks can go in walking back this low rate world that they created melissa v a good weekend >> you, too, bob i go to bk here. this to me is the biggest thing that's going on in the market niehaus. the big trade has bottom europe, better growth there.

everybody's piled into that. now, that these es has reversed. when i look at money flows, where is everybody going to start putting money, this is something people are going to start unraveling and this could go, if it unraffvel, into the bk stocks, so many me, it is a potential for a bid in the u.s that being said, i would not be surprised. to see mario draghi come out and try to talk down the ur o again because nobody wants a strong curren currency don't get too over your skis in switching around in position, but watch this space because it's how you're going make money. >> but the four under the markets, that's promising for the bulls here >> i would say and all this week, we heard draghi trying to talk it back. we heard him push it off to september, then make who knows what happens after that. i think he's got a taste of that no inflation world that miss yellen has been dabbling in or living in for the recent past. i think it bodes well for the bull, the s&p, for fang. >> yeah. >> i agree we knew he was going to walk it

back it was crazy they are going to lift service it to death, so i don't look at it as a risk service near term i don't worry about investing over there the consumer is stronger spending more. you're seeing it in the u.s., over there i think they asouped it was get ago lot stronger faster and of course >> a move in the german dax down that's big move. that's a big move in this environment, so you have to watch that because it is a big money. but i will agree with you. we get something down 2 or 3% next week, you won't be buying german >> it is an industrializ izize battle jumping on the heels of their earnings reports that kicks off our top trade ge dragging the dow down to as it hit its lowest level. fell 12% from last year. been a tough year. the stock is down 18%. jeff immelt prepares to step

down next month. honey well surging up nearly 18%, so with new management help turn the company around or stick with a stock like honey well that's been working all year and i think that the grab is it's in limbo now. >> they ziged when they should have zaged hon honey wel is a better company. ge tried to buy it in 2000 for about 45 billi$45 billion. think about that that would be honeybell if they could do it the other way around it makes sense it's in all the right businesses they're all doing well ge on the other hand is flattering, so that trade, it really showed its stripes today. i think it continues the same direction. >> i mention ed the limbo becaue

immelt took down 2017. went get anything on 2018, so it might be the next earnings report in november we don't know. this is the known unknowns an that's the problem with ge i tried to buy early this year i don't know what the story is is i don't know where they're going to go. this is a giant supertanker that's really flowing right now. until that story becomes clear, it's going to be hard to get investors. >> i want to be an investor. which one? >> if you look at honeywell, it has a couple of things going for it third point. it keeps it big within the stock in case they break it up it's a good problem to have. they keep performing so it makes it a tough job so you have two things there that keep the bulls coming >> honey well. >> i agree 8% earnings growth growing earnings at 8% their top line, look at their

sales grou more than a half, 2ish percent a lot of financial they're going to keep from -- i think we agreed on everything. >> everybody wants libs fang you hate ge, like honey well makes me feel warm and fuzzy because it's nice. you're a conspiracy theorist >> was it yesterday, 48 year anniversary of the landing on the moon remember that? >> which you don't believe in. >> no. bk said that all right. long time. still ahead, sean spicer is out. fast money friend and alumni is in and we've got the details on

the shake up at the bhous right after the break. i'm melissa lee. you're watching "fast money. here's what else is coming up on fast >> tech stocks leading the rest of the market in the dust this week and traders in the space could be a bigger winner next week plus, it's hot out there yes, that hot but the traders are here to help you beat the heat with four stocks that ll me urwiakyo portfolio sizzle much more right after the break. your brain is an amazing thing.

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a long time friend of cnbc, he was named director of communications at the white house, which was followed by the resignation of sean spicer amonoh >> sean spicer resigning in frusation today after being overruled on the hiring of anthony, who comes in as communications director. that's a job sean spicer had he was also the press secretary, the visible face of the administration, the person who briefs the press most often at the podium not clear that anthony's role is going to be, but he fielded questions in the white house briefing room today, said he was going take every question. set a much different tone than

sean spicer. his first briefing was combative right after the inauguration, talking about the crowd size, full of grievance and refusing to take any questions before storming out of the press broefing room. going around around around with reporters telling everyone hees going to take their questions, don't worry. he was full of praise for his boss, donald trump here's what he said about the president. >> i don't see this guy as a guy that's ever under siege. this is a very, very -- person obviously, there's a lot of incoming that comes into the white house. but the president's a winner what we're going to do is -- >> so, his first day in the books, the question now is going to be how is the operation going to change going into next week officials here telling me they don't expect anymore changes reince priebus, the chief of staff, expected they say to stay although speculation he, too, would depart following sean spicer we're expegting the possibility

that donald trump jr. and jared kushner will be testifying on capitol hill on the russia matter next week that's an area particularly sensitive to this administration, this president and when it gets to family, this president gets very prickly and protective >> all right, thank you. from the white house for us. given what we know about anthony and we know him pretty well. i mean, he's been a trader on this desk for many years prior to his next incarnation, but basically, what we know, on what we saw today, what do you think? >> i think it's a home run if the administration needed anything about this point, it's bringing something like anthony in who knows how to peek to people and knows how to be elegant and to make people feel at ease. there's going to be a lot of knocks on anthony and i get it, but they could not have picked a better person or more cape bable person >> i don't know how many knocks there will be because he was so measured, so composed.

he delivered that message, clear, con sirks with humor, as we all know him on this desk to be and the bar was set very low not that he needed it to be set low. but it was set very low from his predecess predecessor. it was an antagonistic relationship from day one. we didn't see that today and i think the press will appreciate having anthony in that room. >> he's a goldman sachs guy. a wall street guy. known as a guy who asked obama about being treated like a pin boyata on wall street. this is an administration they need desperately to get economic reform done. taxes. will this help >> i think so. because it's about messaging and i think america saw it today what we all on this desk new he could be he's an increde bable communicator obviously, extremely talented and successful business person america's better off for having him there. he's a guy i want on my side, so i feel we're in better place

today than yesterday and i think that will translate into the markets. >> i agree i think you could walk in and say the sky was orange and people would believe him he does an amazining job. confidence on the press conference >> that es it dofor us here on fast options action is up next. (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring)

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811 is available to any business our or homeownerfe. to make sure that you identify where your utilities are if you are gonna do any kind of excavation no matter how small or large before you dig, call 811. keep yourself safe. look who decided to stick around for the show. hi, guy. >> hi. >> they're getting ready behind me here's what's coming up on the show . >> the bulls are piling in we'll give you the name and tell you how high they see him going. >> plus. >> traders have been b loving mcdonald's this year but there's something in the charts that spells trouble for the golden arches. we'll break it down. and later. it's the question on