people looking at that. >> going over 25,000 on the dow, how big a deal is that >> something wasn't magic when it hit that in early march and fell off a cliff. the attempt of recovery from low end of the range is more convincing. >> we will see that does it for "closing bell." as always "fast money" begins right now. >> "fast money" starts right now. live from the nasdaq market site overlooking times square brian kelly, dan nathan, guy adanny bitcoin cash is king outperforming rest of the universe in the last month there's one reason why the party isn't over according to crypto baller he'll explain. stocks soaring and chart master says the worst is over for the industrial giant he'll tell us why he's so excited. first we start off with the words that sparked the market rally. >> what i would have really said is this has been a trade dispute

all along. it never was a trade war it's a trade dispute on significant issues both parties have agreed to suspend the tariffs. our 150, their 50. for our farmers, this is going to be fabulous right away. >> wasn't just farmers feeling fabulous, wall street was feeling pretty good, too the dow jumping 300 points, now up 1500 points in 13 days of trading and dow hitting 25,000 for the first time since march so with the trade war with china on the back burner for now, did we just get the all clear signal for stocks are we headed back to all-time highs, guy >> we got the all clear signal and we talked about it before that jobs number came out. we had a whole conversation if the wage number wasn't hot there's a very good chance given price action that day with s&p testing 2580 and closing higher, you know, what don't fade the ensuing rally. that's proven to be correct. i'm not trying to be dplib and

s -- glib despite that song >> that song is a tease for a guest we may have on. >> that doesn't make it better. >> is that toni braxton. >> it's awful. >> to answer your question, yes, i think the fact that we tried that 2580 level a number of times, failed for the bears, means now the bulls are in charge and i think they are going to take it through 2800 in the s&p. >> what's different about today's rally cyclicals led it, it was transport what did you make of that. >> if you look at iyt since we hit the highs bumped up against this level four times, we broke right up through i do believe the transports are telling you the strength of the economy and actually cyclicality that remains railcar improving, inflation hawks fear it's going to trickle through to inflation right now telling you what companies know, things are better. >> remember what we had before this trade dispute came out.

we were worried about an economy overheating, had too much going on, the feds are going to have to raise rates trade war talk came along an we cooled things off. talk about the cyclicals, global companies. we had the dollar come off a pretty good run on the dollar. you get a steady dollar. you get no trade war you get an economy that's doing fairly well, and i think you get this nice breakout it's been happening for a while. we talked about the small caps for a while as well. >> i'm not certain about the trade war. this is self-inflicted by the white house. couple months ago they threw this out there it wasn't in the markets it caused a little volatility. at the end of the day when i look at things most affected by this, look at boeing, relative strength throughout this whole period then steel stocks, they started going down a while ago at some point. >> on a trade announcement. >> what i'm saying is giving back i'm not so certain there was so

much maybe that's bullish maybe they are talking about levels, broke those down, been a volatile period. guy, you said we may have the market going back to 2800. we may getting through 2900 is going to be a totally different thing nasdaq not far from breaking out. russell 2,000 broke out to new heights. i'm not so certain what the thing is that gets them going higher we talk about rotation bank stocks haven't gotten going. we know where yields are, yield curve. i'm not so certain the things that got us to the highs in january, new highs later this year. >> get us back to the narrative of this global economic strength, synchronized global growth, then you are going to get equities and tech higher. >> wasn't some of the data in europe some soft data is that global synchronizer recover, are we about to hit a global hot spot. >> the strength of the quarter, strength in the u.s. is going to pull them up there's two ways to look at it

emerging markets crushed again if you get a dollar slightly weaker. i'm not talking about a very weak dollar but get that off the boil emerging markets come back. oil prices, good for that part of the world. >> guys, it comes back to what you want to pay for this market. we universally acknowledge it's a great first quarter. we've had plenty of guests on the show we don't need guest toss know you get a contracting market multiple in a period where the fed is hiking. doesn't mean the market has to be a disaster. a guest coming on soon that's got a positive view on that i think ultimately you look pat what you want to pay for stocks with rates at 3, 3.10, 3.25, di below, seven, eight days, a lot of comfort to people do you really think vix is going to stay there? release the central bank put and that's a different market. >> interesting setup, 13 days of gains, right very short amount of time. yet we had a fed meeting coming up in june we've got north korean summit

happening in june as well. we're setting up potentially for a very volatile period. >> june 12th so again, i'll say the selloff in the marketplace was february 5th, long before we set it chinese tariffs were somebody's dream. i understand that it didn't help the market, the chinese tariffs but i don't think that's what took us down i think it's concerns about the feds to your point, i don't think the fed put us there either. tim said it before you have a few weeks before that happens. a lot can happen on the upside in a few weeks. >> vice versa. if rates go higher, the meeting june 13th. think about this what if that north korean meeting doesn't happen what if we start ratcheting up the tensions again with china on the trade front. don't think for a second that the chinese tariffs and north korean deal are not attached in some way, shape, or form this is not a big mystery why tensions simmer and settled down without any specifics.

we don't have a trade deal we've an agreement we're not going to war let's see what happens june 12th. >> quickly, what worries me the most and go to europe, italy at 18-month highs you can't have exit from extreme monetary policy without pain this is a credit event bottom line we haven't seen credit events. we never did in the first quarter with volatility. nase good news ecb worries me more than the fed by a factor of three italy is an issue. >> make it look better >> you can't tell me if greece stirred the drink five years ago that italy isn't a bigger cocktail. >> shouldn't we see the dollar go higher, which would be a concern of yours >> we have. >> here. >> what we saw today when the italian government was snamname, backed off extreme positions, wiping out italian debt. dollar backed off big year rally on that. if we get stability in the foreign currency markets i would echo what tim said look at nonperforming loans in

europe that could be the kind of thing you want to watch out there because that could be what rattles us. >> next guest says the market has been gripped by irrational fears and nothing to worry about. let's bring in tony dwyer chief strategist welcome back to the show we're going to go through each year one by one and we want you to tell us why it doesn't matter the first fear rising rates why doesn't that matter? tony. >> rising rates matter when it creates an environment where it shuts down lending so besides the inversion of the curve which we talk about each time i'm on the show, we come through with these ideas like we have any idea. is it 3%, 3.1% it's so ridiculous what it is, whatever the level is to create an environment that shuts down lending how do you know when that's going to happen. there's low frequency data and high frequency data. low frequency lending standards. they really tighten lending stadiums when they are going to stop lenning

delinquency rates pick up significantly. that's when you can tell there's an environment that's in trouble when debt service ratios are spiking. it makes it hard to take on any more debt. i love debt. ask mrs. d there's lots of debt in the dwyers i can afford it. when that changes creates a new dynamic. high frequency data, see the perception of data event be it corporate spreads, libor ois spread none of those things are there one indicator that i think is the most important is the chicago fed national financial conditions stress indexes. it's 105 indicators that tell you when things are going sideways they are still historically low. >> things like delinquency -- i'm trying to understand do all these things have to happen at once are there other barometers such as delinquency on credit cards and auto loans that might be a tell. >> it's a tell for that segment.

for example, subprime auto debt definitely had increased delinquency but it didn't change the overall macro trend. so what it comes down to is it doesn't happen on a tick it happens on a process. we have plenty of time the viewers will know i'm annoyingly bullish over the course of the last nine years because you have not had a significant uptrend in these data series. now it's starting to change. i've always said this is going to end badly. >> let's get to the next fear. the stronger dollar. what are investors missing with the stronger dollar, tony. >> i've never seen the dollar be good for stocks. ever when it's a strong dollar it's a headwind to earnings when it's a weak dollar it's currency translation, doesn't really count. >> quality from something, never a good backdrop. >> never a good backdrop i've never seen currency act as a tail wind for stocks. >> lastly, want to get this before we ask questions.

surging oil. you see who cares. why shouldn't we care about surging oil, tony? >> have you noticed negatives in the market are always dynamic and positives are always static. have you in increase in the price of oil, increase in interest rates, increase in all these negative influences. we don't talk about how incomes continue to go up. they are only talked about when they are the negative inflatio that's going to kill the market. we think you've had an increase in incomes, offsetting at corporate and household level the higher cost of oil, other commodities and, of course, interest expense. >> b.k., you had a question? >> i do have a question. we're looking at these fears the one thing we don't see is the dollar could be acting like the vix in that we have so much u.s. denominated debt, the higher it goes, the more of a credit problem that becomes. are you concerned about that >> eventually 100% this going to end badly. it's going to end badly because you cannot fit debt with exponentially more debt.

when interest rates go up, defaults go up, et cetera, et cetera with interest rates global we're still at a level that isn't worse. >> energy real quick energy goes higher, disposable income gets whacked. we haven't seen the wage growth necessarily to offset that but if you do see the wage growth offset it, you're going to have the fed back in place. what are we looking for in terms of wage? do you want wage growth? >> you want wage rowth we're in the second half of the cycle. fed raises rates, invert the curve, it's going to go sideways again, nominal disposable personal income underestimated 8.4% per year from 1965 to 2005 when the philly fed did the study and it's continued on. whatever you think the wage numbers are, jump it by 8.4% a year so that off sets this interest expense. that's why looking at this from

a negative framework doesn't work you've got to look at it as not just a delinquency rate but household debt service ratio i have too much debt i know i can afford it unless i lose my job as long as the interest expense doesn't change. >> tony, good to see you thanks for being here. tony dwyer. >> thanks, guys. >> that was the problem in 2008 too many people lost their jobs and couldn't afford interest expense. when he talks about sideways isn't going to go well, we're talking about stock crisis. >> they lost jobs after credit bubble. >> risk asset in 2000, same thing. remember all those people toiling away, show some advertisements on. pat some point in 2000, jam one too many ads on a website. >> same spot. >> what i'm saying is when you think about we have risk assets that are kind of bubbling up effectively because of where interest rates have been if we talk about credit, talk about china, where is china's

debt to gdp? isn't it 200%? last time -- >> you make it sound as if we're about to go over a cliff. >> that's not what i'm saying either we have a real bull here telling us it's all going sideways eventually we're in the second half of this thing. >> going higher. >> okay. i heard that and i heard the other bit, too i'm saying at some point the music is going to stop. >> the only argumentative, and tim knows this a lot better than i do chinese debt to gdp, 240ish%, accept 85% owned by chinese. exactly. hard to make that parallel, i think. >> sovereign debt crisis ever? >> i don't know. have we? >> still stocks knocked down, i bought a little steel today. they didn't do well when we announced trade tariffs, didn't do when we get rid of them. >> coming up, ge down 15% from

two-week high. here to break down charts. slew of bad news from tesla, consumer reports review. the stock still rallying why? a special report later, something happened in bitcoin cash that could make cryptocurrency a must own coin tell us what that is and take tweets, maybe even a mean one. we've got lots of them actually. lots of them htwe us @cnbc asmoy."ft ne you're watching new york city times square much more "fast money" after this this is no ordinary coffee. it's single-origin kenyan coffee from the nyeri highlands, 6,000 feet above sea level. but how do you really know that the beans journeyed to the port of mombasa and across the pacific? that you can trust they're 100% authentic? ibm blockchain. a smart way to track every step, ensuring this coffee did indeed come from 6,000 feet above sea level.

and not a foot lower. ♪ ♪

welcome back to "fast money. more bad news for tesla as model s was involved in a deadly car accident let's get to contessa brewer in the newsroom with the very latest contessa. >> california highway patrol investigating another deadly crash involving a tesla. investigators say model s appeared to view off the road, smash through a fence and plunge into a pond. in the san francisco area. the 34-year-old driver was found seated behind the wheel of the submerged car. investigators are looking into whether speed, drugs, or alcohol were factors or whether the autopilot was on the headline comes the same day consumer reports stopped short of recommending tesla's model 3. part of their review says, quote, our testers also found flaws, big flaws, such as long stopping distances in our emergency braking test and

difficult to use controls. that was in the publication's review it took 152 feet to stop from 60 miles an hour, worse than even the ford f-150 nase a full-sized pickup truck consumer reports pointed out advantages, agile handling and battery duration tesla has had a combative history with consumer reports. it counters its own testing shows stopping distances roughly 20 feet shorter depending on the tires used meanwhile over the weekend elon musk unveiled details of the much anticipated dual motor model 3s on twitter. musk touted specs of high-performance all wheel drive model in particular. he says it will go from 0 to 60 in 3 1/2 seconds it will reach top speeds of 155 and get 310 miles on a battery charge he also tweeted the cost of $78,000 without autopilot is about the same as bmw m3 but 15% quicker and better handling,

will beat anything in its class on the track, he said on twitter alexander hazel says you'll be surprised and raised cost target to 470 ended the day up almost 3%, melissa. >> thanks very much, kst, a brewer contessa brewer in the newsroom. where are we with the range. >> two-week lower. more likely to go 40 bucks lower or higher. >> i'm in the 40 bucks higher. 280 line in the stand, break one time traded near 244 level, breached 310 for a while it's a very difficult trade. i'm not suggesting it's for the feint of heart if you have the temerity you trade on long side against 280. >> i have know idea what temerity means >> google it and i'll tell you what to do here. against 280, agree with guy. risk reward. $500 price target. that's almost double from here

if i buy it $284, downside 280 stop if i ride it down to $240 that's $40 still looking at a double. >> you actually say the sky is the limit. >> some guy chucks a dart and gets to 500. >> i'm saying this is not a stock you buy for $50 bucks up, $50 bucks down. >> you don't buy it for av business i don't think tesla wants to compete with waieibo competition, value doesn't make sense. i think downward trend on the 50 at 355 down from 27 is not getting through that 50 now. >> the temerity of your call, i would tell you -- here is the thing. >> did you use bing to find that. >> if you're buying 280 stock -- can i speak? very volatile with a lot of news

over the last few months here you have to have a very long time rise. if you're buying it before they have to raise capital, which will be dilutive you have to have a very long time horizon. i don't like the news of 78,000 model 3, it's close to the price of model s. >> isn't that better because their margins are higher. >> okay, fine. how are they moving around production we know they are not doing a great job producing these three cars all at once we know they have 400,000 people waiting for model 3s and we don't even know if it's the dual engine, whatever this one is to me it just seems like a bit of a mess. they need to start doing 5,000 a week of any of them. get them out the door. >> which by the way equals extreme temerity in the view on tesla. >> i think we're all using the word temerity incorrectly. >> wrong, w-r-o-n-g. >> it's audaciousness,

overconfidence. >> courage. >> i don't feel comfortable with that. >> anyway. >> welcome to school. >> about to invade your living room netflix signing multi-year deal with president and first lady and has betters betting the stock will take off p you're watching "fast money" on cnbc first in business worldwide. here is what's coming up on "fast." >> long national nightmare is over. >> that's what investors are hoping as industrial touched three-month high today the man who called the rally says it's only just begun. he'll tell you how high he sees it going plus -- ♪ fly me to the moon ♪ >> crypto baller brian kelly said something happened to crypto cash telling that cryptocurrency could soo

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welcome back to "fast

money," we have a news alert on micron let's get to leslie with the details. >> reporter: micron shares up in after hours trading after micron and intel announced shipment of flash memory cutting technology. it announced developments on micron's side, progress of third again operation nand flash memory structure the board at 5:30 authorized a discretionary repurchase of up to $10 billion of outstanding common stock that's in conjunction with the company's plan to return at least 50% of free cash flow beginning in 2018 fiscal year. that's coming to an announcement that came out around 5:00. as you recall, some prominent hedge funds recently upped their stakes big time during the quarter including david tepper's appaloosa. this buyback after another tech company, adobe, announced its own repurchase stock program you can see there investors

definitely much more in support of the number given by micron. back over to you. >> thank you very much, leslie this is a monster move we've seen in the past -- during the regular session up by almost 4%. after hour session up another 4% of course it also raises fiscal third quarter guidance. >> a few months ago when this stock was trading 58, we had a conversation about it. i think this could be a double from here. the stock basically went straight down. traded 48 or so. now we're back to level. quick quickly, $10 billion from micron not insignificant 17 1/2% of their mark ca-- mark cap-issue. i don't think in the story necessarily changed. i do think it goes higher from there. >> implications from the rest of the sector we saw it today. >> back to the highs, well below highs, 5, 6% that will lead it up intel has been hanging out here. there is a good announcement if

you have the time. check it out on nand, micron and intel, 1 terra bite cell they did save something from analyst, i'll say this, it better keep rallying, rallied into the event i could see it sell off over the next couple days. >> a good article on nand. >> that and seven nand chips, own it for atf the reason why -- >> what's the ticker. >> ticker, thanks for asking anyway the reason we owned it nand chips goes into mine rig p good detail on coming out sooner rather than later, so that's the catalyst. selling off in an $11 million merger, the industrial giant pushes for the turnaround pl plan bob pisani with details.

>> simplify, simplify, manageable and profitable businesses largely consists of locomotive, combined with locomotive freight car, after market business ge will receive $2.9 billion in cash at closing. ge and shareholders get 50.1% ownership combined in the company. ge is a mishmash of companies, eight industrial business segments power, aviation, health care, oil and gas, renewable energy, ge capital, transportation and lighting ultimately ge seems to be heading toward a company built mostly around aviation, power, health care and partly the renewables business. there's definitely growth in some of these segments the order book reflected double digit earnings growth, renewable energy doing good. single digit growth in health care a drop in power orders gas turbine business

renewable energy, that's the wind business is also seeing healthy growth transportation is only $4 billion of ge's $122 billion annual revenue this is a small deal in terms of revenue. at least the new ceo is demonstrating he can take action and raise cash next up could be the lighting division look for a deal there. there are likely more deals also in power as well as oil and gas division the street reaction has generally been positive. that makes a lot of sense. morningstar's analyst says we think the market is likely to smile on any decisive action flannery can take to declutter, smooth and derisk general electric even if the result is a smaller conglomerate back to you, melissa. >> all right, bob. thank you. bob pisani the next guest said to buy ge back in april. take a listen. >> here is what's interesting. as again it's continued lower over the last several weeks and months the actual internals have moved

higher i want to stick my neck out, take a gamble, this very important, now less important stock, is maybe so bad it's good. >> and in fact it was a case of so bad it's good shares are up 18% since hitting a low on march 26th. chart master, back at the plaza to double down on the call carter. >> a little bit of a pop, a lot of a pop, 18%. i think there's more to go first i want to talk about industrials versus the market. there is this feeling industrials have come back to life and they have i want to look at industrials xli versus xpy over the past 10 years. this is early may of '08 here we are may of 2018. they look the same and they are. 99%. you can see that right here. what's important is the blue line is the industrial it's constantly lagging the orange line. when it dips -- when it dips --

when it dips it's much worse another way to look is hold the orange line as a constant, next chart, expose the blue line. here is another way to look at that we know they are the same. 99% over the 10-year period. this is risk adjusted return you get. you're having drawdowns of 10%, of 10%, of 15%, only to get back to even. so adjusted for beta or risk, industrials have been a very unhappy place to be basically the entire bull phase of the past decade. moving onto ge we know ge, here is the chart. interesting thing. they look the same but they are not. ge this stock, of course, really starting to get into trouble about two years ago. we've got this spread between the market and ge. i want to sort of drill down on the current action and see if this is the makings of a genuine bottom that has the look to my eye of something of head and houlders you can see it there

the next chart i want to zero in here is the five-year chart, two-year chart with the linebackelines drawn. i put in the trend line to see where it might be headed just to get back to the trend line would imply 1750, unfilled gap around the level 18% off the bottom that would fly another 18, 19% to go. i think you've got to do it even if it feels late i don't think it's late. it's still early. >> carter comes over come on over, carter brian will bring the chair thank you. >> it's hard to chase things once they move you feel like you miss it. that's what makes them often go further. there's a serb percentage of investors that said i missed it, i can't do it. >> this move in ge come-- coincide. >> it's a turnaround in all we

know, either going to get out of the epic mess it's in or it's not. the presumption is, the epic mess is behind us. >> carter, looking at that chart, look at head and shoulders. what do investors get. buy it at 15, what kind of target. >> 1526, that trend line comes in around 1750 there's an unfilled gap from january with bad earnings miss not all gaps are filled but gaps have a way of getting filled that will get you back to the trend line a measured move of head and shoulder width of the shoulder to the neckline another 250. >> you're still holding, right >> what this deal shows you, street, investment community, whoever is looking at ge got clear, they were 40% wrong on web tech citibank, 7.9 in terms of value, they get 11.1, maybe that's 35%. but that may be how you have to look at it i would also make the argument and i have on the show

even if ge owns zero this year, is the company worth zero? absolutely not if they are getting more for assets think about it differently. energy should be priced higher for sure. >> my push -- sorry. i'm going to pull, you push. >> temerity. >> temerity. >> dr. doolittle. >> i was going to say quickly chatter about ge short of that $20 billion where this he had to sort of cut, well short of it. that was supposed to happen in february does that mean we eliminate the dividend i don't know i don't know what it means for the stock if, in fact, they do. you might see carter's level. >> we could reduce in line with dive divestitures management alluded to. >> $20 billion is what they have to do. i think they are on their way. >> thank you, carter coming up, shares of netflix jumping as the company signs a multi-year deal with the obamas. the traders are betting streaming giant could pass market cap you won't believe how soon it could happen we've got the details.

bitcoin cash reigning supreme over crypto world. a bigger rally in store for cryptocurrency we'll answer why and bniurng questions from twitter keep them nice and keep them clean and might answer them. more "fast money" right after this i'm dianne feinstein and i approve this message.

i support the affordable care act, and voted against all trump's attempts to repeal it. but we need to do more. i believe in universal health care. in a public health option to compete with private insurance companies. and expanding medicare to everyone over 55. and i believe medicare must be empowered to negotiate the price of drugs. california values senator dianne feinstein welcome back to "fast money. the battle between bitcoin and bitcoin cash is as heated as ever but for everyone on bitcoin's side i've got some bad news for you. in the past month bitcoin cash hasn't just outperformed bitcoin cryptocurrency rallying 6%

versus drop of 35% for bitcoin it has taken crypto crown by vanquishes likes of litecoin ripple, 21% during that time our resident crypto baller says there's one thing that could send cryptocurrency further down the path of domination b.k. at the plaza practicing it down in another crypto class. >> let's do it first of all take our skeptics hat off. not making a call on which is which. what are the catalysts out there. number one, what happened over the last couple of days. miners of bitcoin cash got together and proposed development fund what does that mean? they are going to take some of the rewards from mining and put it in the fund to build stuff on top of bitcoin cash. why is that important? that's how blockchain gains value. think about an app store where things are built the bigger the apps store the better that could potentially give

value to bane cash it isn't the only one with this. this is a tactic by many crypto coin currencies to bolster the chain. people are going to be coming in building stuff on it you're going to get more use cases to the extent that usefulness translates into value. that could be a positive for bitcoin cash the other part it highlights centralization of the miners which in the cryptocurrency world isn't always a good thing. you might think of miners like a cartel type organization where there's a few getting together in this case it appears to be a benevolent cartel but that can be a negative in the cryptocurrency world let's take a look at the market. ultimately for b.k., that's really all that matters. the market trader. let's take a look at this. we've had that big spike those up at 3:00 in the morning and saw that big $3,000 price and sold it there, good for you. that wasn't b.k.

we've had this big down trend. look at this little uptrend here we've held what was support. it's still support now we have a catalyst and a good looking chart for me that's a place that i want to buy. >> we have a lot of questions, b.k., burning questions from our viewer we do want to take some of these tweets about bitcoin cash specifically so you can help them out our first tweet fwra max asks how long do you plan to hold bitcoin cash? is this a long-term play for you? >> for me i'm a trader i'm always moving out. my job is to be in the ones moving at that particular time the long-term cash for any of these currencies is they get adopted as your global currency. bitcoin certainly has a huge lead over that they have a massive network. any of these other currencies could become that and that would be the long-term view. >> our next tweet from udi, did

you ever use bitcoin cash to make a purchase from a merchant under $1,000 in value. if not, what's it for? good question. >> that's a great question udi no, personally i haven't used bitcoin cash to buy from a merchant but i run a fund for investments. what are these used for, alternative financial systems. different ways to move things around i've used bitcoin to buy things. i've used bitcoin to send money overseas so it's useful for that. ultimately and to your appointed, i think, idi, if there's no usefulness to it they don't have value. >> our last tweet from crypto zone who really wants to know, b.k., are you roger ver? >> turns out i'm not i'm just a guy trying to make some money and help other folks out. >> and there's no connection, right, bk? >> no connection between me and roger ver or me and anybody else out there. no connection.

i'm a solo fellow. >> we get a lot of tweets along those lines, accusing us of manipulating, on the take to promote a certain cryptocurrency which is absolutely not the case we do not take any payments to promote anything on this show. nothing. >> roger ver, also known as bitcoin jesus. so i think -- >> bk, did you see the line he drew on that chart that was brilliant. >> he might be jealous. >> yeah. >> he's rocking himself -- panthe pantheon. >> you didn't see it, guys. >> great conversation, bk. we've got to move along. >> coming up, lights, camera, queue the obamas, president obama and michelle obama signing a deal with netflix to produce a new series somers say netflix will cobeme more valuable than disney and you won't believe how soon

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original content for the streaming giant. for more let's get to julia boorstin out in los angeles. hi, julia. >> melissa, netflix has snagged some high-profile content creators, this deal from the obamas is unlike anything the streaming giant has done before. netflix shares moving higher after announcing the obamas have signed a multi-year agreement to produce films and series through netflix through their production company called higher ground productions, scripted series, unscripted, docuseries, documentaries and features president obama saying, quote, we hope to cultivate and curate talented inspiring voice to create better understanding between people's and hem them share their sfoers with the entire world. content chief saying barack and michelle obama are among the world's most respected and highly recognized public fires and uniquely positioned to change the world

for the better a number of high-profile high-cost content deals including spending $300 million to secure a five-year deal with tv producer ryan murphy. that deal announced in february after last year netflix announced deals with david letterman, shonda rhimes among others netflix says it will spend as much as $8 billion on content with 450 originals appearing between now and the end of the year the obamas content won't likely be released until next year but certainly join a growing library of premium content melissa, back over to you. >> thank you very much, julia boorstin is this going to help netflix? is this another high-profile signing of -- >> sure. i think it's a positive for them that's what it's all about the knock is they are spending money. have you to have content the on here back in the days of cable, why did you need to get this you needed to get it because you wanted to see a show on it dan wanted mtv, he liked it very

much, he needed to get it. >> it's important to remember this is not about series, strangers things or "orange is the new black. they are producing a ton of original docuseries with comedy. they are playing a lot for it. here is the inflection point at some point at the end of the year hey, that $8 billion we're spending is going to be 10 and some dropped that's when you have a problem i think what you're seeing is until then it's just, nao -- >> first of all, commendable it does matter they are getting content they seem to be getting content more interesting thank others and spending a lot of money on it how do we value this content at some point let's acknowledge. i said for pa long time i don't think you can call them -- let's call them content player even with video description that has annuity attached to it also the cable guys seemingly have as well this is the problem. it's the valuation, not that they are not delivering a good service. why are we pricing it 200 times.

>> content plus distribution platform. >> we are. if you look at the wireless guys and effectively i think the cable companies also have the wireless business are the ones that should be getting -- they are getting at least that much to distribute. >> domestic growth continues just when you think they can't grow anymore domestically, they grow more and international continues. they can sign the obamas and the rest of us, won't make a difference the stock is going higher as long as that growth continues. that growth, except for one-quarter that i can recall, has not waned now for four or five years. >> stocks down if they sinus. >> you believe that? >> i don't know. trader hoping to boost shares by more than 20%. that would make netflix more valuable than disney so why don't you break this down >> just one trade that caught my eye. it was clearly unusual probably because of the strike price. today on the day when the stock acted well, better than the rest of fang call volume 1 1/2 times

of puts, stock trading before 3:30 someone accumulating july 400 strike calls paying $1.63 for 2200 of them i'm assuming they are bought here listen, you have to think about this in terms of premium this is not huge this is 365,000 in premium if they were, in fact, bought, the company should report earnings by july expiration. a loan holder who owns the stock here -- the stock is up 71% year-to-date this is break even if this is a long buy up 20% from here. this is not a high probability this is not a way to be bullish on netflix, a way to lever up an existing bet. >> for more "options action" check out the show friday 5:30 p.m. eastern time. is take two interactive have a fortnite nightmare or renew interest in video games. the stock up 20% over the past month. ceo just sat down with "mad money's" jim cramer for an

exclusive interview. we'll bring you those comments much more right after this see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade

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fortnite take a listen. >> it apparently speaks at least anecdotally to a younger audience seems to be evidence that those playing fortnite are new to the category as they age, they will obviously be consumers of more mature titles currently they can consume titles rated for everyone. my view is that it would be great if we could corner the market on all hits that's not realistic the emphasis on innovation not derivation. >> take two's tear continues and turn to chief gaming correspondent tim seymour. >> glad to be here because i think this is where the cool kids are if you look at this company and want to put 30 multiple on $4, it's $130 stock. it's rallied all the way up from 90 when we're questioning multiples in the worst of the morning pullback think about what these guys have we talked about mba. that just highlights why i think they have both a currently

viewer base, growing current viewer base and pull in guys like me. >> if they being the marketplace couldn't sell the stock after this announcement may 17th after rallying from $91 to $117 how are you going to sell it off i'm in timca's camp. >> looking at ea $5 expected earnings this year, 30, 150, stock at 133 and the real issue is are you going to see trends accelerate earnings maybe not yet. really valuation 30 times mid teens growth that's what's challenging. >> don't miss full interview with jim cramer and ceo of take two adon" "m meytop of the hour. up next final trades

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time for the final trade tim. >> u.s. steel i think would you tell a trade war this company would be trading 20% higher. whatever we have i think the key is worth more than it is here. >> brian kelly. >> mnuchin said the farmers were going to be happy. nothing run likes a deere. >> paypal has analyst day may 24th, see new highs in the coming week. >> a spirited show this evening.

a lot of facial expressions by dan off camera directed at the four of us. >> they weren't nice either. >> none of them nice. >> know what is nice win resorts, see that thing, wants to go haunix. >> i'm melissawatching see you back here tomorrow at 5:00 "mad money" with jim cramer starts right now my anything 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 "mad money. welcome to cramerica other people want to make friends, i just want to make you money. call me at 1-800-743-cnbc or tweet me @jimcramer. you cannot overstate the importance of trade to the stock market today we saw what happens when we get a real sense that