>> it will probably go down from there because it would be ridiculous if we got better on that so i think over 70% is basically okay it will show that the trend is intact in term was how strong companies are. >> everyone wants to see margin beats only >> the ceos have figured out the game by now. >> thank you very much thank you very much. that does it for the closing bell. >> have a good weekend, everybody. "fast money" starts right now. "fast money" starts right now live from the market overlooking new york city's times square i'm melissa lee. your traders on the deck are tim seymour, steve grasso and dan nathan tonight on fast, a major shift happening in the crisypto marke that could have big implications we will tell you how he's trading it and later, call it tech judgment day. alphabet, amazon and facebook almost $2 trillion in total market cap and all of report next week and one of them is about to pull up lane. he'll be here later on, but first we start off with another wild day from the white house as president trump making a number

of market-moving headlines on cnbc and on twitter this morning. our kayla tausche is standing by with that story. >> president bush successfully jawboning the markets today after suggesting rates should stay lower and that the dollar's strength hurts the u.s. on trade. on twitter he reiterated comments that he made to cnbc that china the eu and others are manipulating their currencies and interest rates lower while the u.s. is raising rates while the dollar gets stronger every day, taking away the u.s.' big competitive edge tightening hurts all that we have done and that the u.s. should, instead stead, be able to capture what it lost. sending the dollar index down nearly $1% and as one investor put it, shielding china that two can play that game after the people's bank of china moved the yuan for the biggest one-day devaluation in two years and after china's trade surplus

in june touched a record stephen mnuchin just spoke to traders in buenos aires saying the strong dollar is still important for the u.s. in the long term and that he is closely monitoring the yuan weakness for manipulation devaluation is just one of the tools that china is using to soften the blow of tariffs and lowering reserve requirements for banks and freeg ing up capital. president trump told cnbc that he feels empowered at home thanks to the cushion from the stock market. >> this is the time. this is the time >> this is the time. >> is there a time -- >> you know the expression, we're playing with the bank's money. we're up almost 40%. >> although no talks on the horizon, it appears the u.s. and china could be prepared for a protracted date fight. u.s. officials talk about the resolution and focused on the end of the year, melissa, potentially after midterm

elections. >> they said they would examine whether or not china is devaluing in the next treasury currency report. any meeting on when that will be released >> it's usually released on an annual or semi-annual basis. in the past the treasury comment has declined to actually list china as a currency manipulator in that report as the president said on the campaign trail that he would they do talk about volatility, but is inherent in the currency market because of the economies like china that do not function as market economies and capitalistic economy, but you walk just up to the line and not as far as to see if china has been manipulating his currency >> kayla taush he says he is laying with the bank's money, but the market today barely budge period. why not, tim

if the dollar is on the fed you've tan the presser the multiand once that equals better conditions for marks and i also think that earnings when you layer that on top it's a very solid fundamental story guidance has been better than expected on the back of what people thought would be awful trade. i think that there is trade fatigue. even though i'm of the view that there is detrimental follow through and the discussions equals more. i think markets are working on less fed and it's not offsides. >> less fed and a weaker dollar, trump, if you will, the threat of tariffs on $505 billion worth of goods a full-blown trade war >> i don't think people are pricing in a fl-blown trade war because that's not what we have yet. the rhetoric is worse than the reality of this. >> earnings is a big thing

maybe they'll be spectacular just go enough to keep this moving forward as i choke here, i do think china will blink if you look at 500 compared to 13 0 look at it that way impeach they're not going to be revaluating and they did that in 2015 or to the extent that they did in 2015. they're not going to be selling treasurys and it hurts them as faie much as it hurts us. >> they are the biggest client there, aren't they >> what are they going to do with it? >> i agree i think also they want to keep their currency stab, bii'll let these guys talk. >> i think that their objective right now, their long-term goal is to make sure they don't is have a flight risk or capital, relieving and they start to devalue the currency and also, you look at the fact that they

want the yuan, this move, pooh their beak is the structure and they from trade agreement and it's overlooked by the mark the. >> it spent the better part are of 2015 or 2016. what's what's interesting after was elected and all of these assets that they thought would attract capital to the u.s. because it seemed like invests on made multi-year highs at, she went from 105 to 87 in april when you think about what that means for corporate earnings if we had the decline in the dollar for all of 2017 that's a tailwind for multinationals now we had q1 earnings that the combo t got the benefit of it. i don't think the dollar at 95 over the last two years means anything. >> we went down 14% as you

talked about from the peak through 2017 to where we bottomed in january and we took a resistance >> if the dollar weak knows talk about input prices and that was go to mitigate it and ultimatery they were going to get a little something back >> what happens if the corporate tax cut going from 25 to 21 mitigates any of these tariff trade concerns request twith the corporations because woe're all worried about it. >> what if it cancers it out >> what's priced into the market right here is that we start getting this tailwind of 21% over tax rates and all this stuff that comes with it, right? >> and that's the stuff of the guidance they think is interesting. i think for the back half of the

year we'll see squishiness on that >> but that's the point is that it does neutralize it. so i don't -- i'm not arguing with now >> that's a personal more money and on. [ indiscernible >> so where do we stand if we are standing in house money and we priced in this growth from tax cuts and what not and then we peel some of that back because of the effects of a trade war and so on. where does that leave us >> you have to go after stocks that have been beaten up in the last six weeks by a strong dollar and the tax to trade war, and i would go at the airlines i would go with the industrials and i would look at the airlines which are priced for an economy that's in recession. i would go after those stocks that at least have been caught in the cross fire. >> just fang

everyone loves fang. it's really hard the steepness of these rallies. >> i don't >> it's just ridiculous ridiculous no matter with the geocorrectness, and if it just seems like it's overdone and that's when you get back in those things and apple is the other one and i know carry the will come out later and they'll retrace it back to 180 you can get apple before the refresh in the fall. are you talking about ten bucks on a $200. >> i think people invest in apple in the long term i think you have this capital return story all of the time you love amazon here do i buy it here >> it makes new all-time highs every day. >> we've had sell-offs in all this stock tern, 15% and that's when you have to do it when earn else has to get out of it

there is an understanding of the revenue growth and the earnings growth that they're on and investors had their arms around that so from a safety perspective i do think people are gravitating to the names like facebook and the amazons in there look at facebook numbers facebook numbers -- facebook numbers ratcheted up higher by a couple of different firms and there's confidence in their earnings growth and there's confidence going out a year or two. >> the only thing, to your point and the only things that have rallied are of the large cap tech faem. is that going to be the one that's the surprise trade? are we worried aboutaly banna, because auto the biggest upside poup >> the man who declined it, plus fort night crosses the $1 billion mark and all eyes will be on berlin as a history-making

doush amount for another battle royal game and we'll be joaned by esports we'll give uans inside look we are live in the nasdaq marketsite in times square much more "fast money" coming up next at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. my dbut now, i take used tometamucil every day.sh it traps and removes the waste that weighs me down,

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>> welcome back to "fast money," it is the most watched game in the world. deckoning players new and old to enter the arena. julia boorstin is breaking down the fortnite hype. >> an epic milestone by epic game owe fortnite, 1.1 billion is what it's brought in and that rand mark number is unusually high from a game from an independent studio and thanks in large part for fortnite's battle royale mode in which 100 people can play at once it's grown from $270 million in april to $320 million in may according to super data. it's become the most popular genre watched across all streaming platforms with 700

hours in may alone with fortnite accounting for 300 of those hours. epic can keep innovating to keep driving demand fortnite dipped for the first time in june and then rebounded in july to set new record highs and that was thanks to fortnite's new season of content. fortnite's success hasn't hurt the public gamemakers as many had feared and we are seeing them embrace big group play. activision's blizzard and ea's battlefield five both are in battle royale modes when they launch in october. we'll have to see if those games start to threaten fortnite sales in the all-important holiday season are more unpredictable than usual melissa, back over to you. >> thank you julia boorstin in l.a. did you know that before fortnite there was hub g >> of course, mel. >> you did not that's short for player unknown battleground, another battle royale game that got people hooked in march of last year

100 parachuted on to a map that shrinks over time fighting each other to be the last man standing next week in berlin, 20 of the best teams in the world will compete in the very first major international tournament with a prize of $2 million. our next guest is the coach of one of the teams getting their game on in berlin. michael or gibroni is here to give us an inside look good to have you with us. >> thank you for having me on. i appreciate it. >> it must be exciting getting ready to berlin. >> can you tell us what the team does toy prepare for tournament. >> to put it out there for you, we spent this entire week, 12 to 16 hours a day, in the office all playing side by side and we've been going over vibes and trying to get info on all of those other teams from around the world. there's a lot of great teams that are going to be there, so we've been preparing as much as

we possibly can. >> are you surprised about the popularity of fortnite everyone has heard of fortnite and i'm not a gamer at all and i didn't know about pub g until today, but it seems like fortnite is gettings a all of t attention out there. >> fortnite is pretty much the most popular game there is right now. it's free to play, so anyone can hop on and they did just play they want and just go download it and on top of that they make their money through the microtransactions and the skins that they sell in the game it's a little different to pubg. it's a little more realistic, and it's a little more intense and more military style and fortnite is a little more cartoony, more for the casual player and that's why it's opened up to so many people who were in the games before, they're now playing. >> a reporter in los angeles, michael was telling us how these major video game companies and the publicly traded ones will launch battle royale, come next

fall is that too amateur hour for you? >> i'm definitely pub g through and through 100% that's the top tier battle royale at the moment i'm sure battlefield and call of duty who are both likely going to have the battle royale modes and i'll play them and it will be fun and it's the one to stick with for now and it's the one for me looking forward that will have the most growth >> call of duty, i look at this as a zero-sum game do you find yourself playing call of duty less and do you think that others are playing less since fortnite is such a big entity in the gaming world eventually that's got to take a piece of the pie from an activision with the call of duty. >> yeah. it's one of those things, it's just competition and that's just what it is when it comes to games. if it's enjoyable people will play it and if it feels repetitive people aren't going to play it you can't go into a battle

royale with 99 other flares and have the same game it's a brand new experience time and time again and as they update the game they both come out with all of this new stuff, i mean, there's just endless hours of game time available >> michael, we mentioned the prize pool $2 million. that's a lot of money. >> wow >> at the same time, are there sponsorships on the line sort of walk us through how you see this playing out for you in terms of the moneymaking side of it >> yeah. we're with ghost gaming obviously is the team. we're one of three american teams that qualified for berlin. our goal there is to win and that's just the end all for all of it. we won first place and finished second in north america at the qualifier, but for us it's all about winning and the opportunities that arise after that, and i'm sure there will be plenty for myself and the rest of the team. >> it's great speaking for you and best of luck in berlin >> be safe >> michael or gibroni as he's

known on the circuit >> the publicly traded video game companies of the past three months each were up by at least 20% and they've already given second quarter guidance and no impact from fortnite is it past is the danger past >> you said they'll be introducing their own battle royale things. an ea is a $45 billion name and one of the names that we kicked around and the content that they want it seems pretty logical except for the fact that these are getting two massive, massive price tags right now ea with a $45 million. >> i don't think 30 times, and i don't think these numbers are extraordinary considering the growth and then there's the brick and play microsoft had great earnings and 39% growth in gaming and save the world on fortnite is all on windows. so this is really big and to me it's the biggest gaming company. so there are ways to play this where you don't have to chase valuations, but i still think they're going higher. >> still ahead, the crypto is having a stellar week as they rally 20%.

we will explain next i'meli i'm melissa lee, and you're watching cnbc first in business worldwide. here's what's coming up on fast. ♪ ♪ >> except as of late, shares have faltered and there's something in the charts that suggest even more pain for the golden arches. plus. >> it's one small step for man, one giant leap for mankind >> and the traders have four stocks that they say will soon go to the moon those names when "fast money" returns. - i love my grandma. - anncr: as you grow older, your brain naturally

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cap. ripple, bitcoin cash and eos remain the other top koins all while bitcoin sees massive gains this week rallying on 20% for its best week since early april. well, all of this bullish news makes me wish our crypto -- was here what's that sound? is that mr. b.k.'s neighborhood trolley. even though he isn't here today, he sent us a message about stellar. and here it comes. he says stellar is both a currency and a platform so it makes sense that it is more valuable than late coin. the partnership with ibm is very interesting and it could add even more value as we build more products on the seller's platform it's a beautiful day in mr. b.k.'s neighborhood. tim, what question would you have for b.q. if you were here >> i would say b.k., what is the impact of the currency war on bitcoin and its rally this week.

is that b.k.'s neighborhood trolley again? he might be sending us another message. >> the character of the market appears to have changed for most of this year, every rally was met with aggressive selling and that has changed over the last two weeks and the potential could be a tailwind for bitcoin going forward. >> how about that? >> there you go. >> b.k. comes back with the troly atro trolley. >> i love that ding, ding. >> it says more about our producer matt meyers who is trapped in the '70s. you're basically coming at mr. rogers >> when b.k. was in our neighborhood the other day about this rally it's really interesting. you talked about what changed this week any we're up 25% from the lows and in q2 we had a 58% rally off of the lows and in q

oq1, you have to look at the lows from a couple of weeks ago and to me, i don't know -- >> what's that level >> i think it's back to 5,000 which was literally the late-october 2017 breakout and then we had the paramount run from 5,000 to 20,000 and then obviously retraced 70% of it into january and february and that sort of thing >> where are you trading >> stellar we mentioned stellar earlier i think stellar is interesting i think it was founded by the people that founded xrp. there could be a capital flight given the fact that stellar is a transaction-based coin and you have to utilize the coin and you make a transaction >> speaking of going to the moon. >> let's do that did you know it was 49 years ago toward when neil armstrong and buzz aldrin stepped on the moon. they are bringing you the stocks they think are out of this world. >> i think they're driving an olds mob eel i think this one is going to the

moon. >> square has beenmeteoric and it has life left in it >> google. alphabet i'm a buyer ahead of earnings and on monday morning, i think core margins will be great. >> i think american express will finally break out and go to the moon. >> that does it for us on fast don't go anywhere. ♪ oh no. schwab, again? index investing for that low? that's three times less than fidelity... ...and four times less than vanguard. what's next, no minimums? ...no minimums. schwab has lowered the cost of investing again. introducing the lowest cost index funds in the industry with no minimums. i bet they're calling about the schwab news. schwab. a modern approach to wealth management.

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hi there we're live on the market in the meantime, here's a look at what's coming up next >> making three times your money in less than a month it ain't no russian bot, but it is dan nathan's trade on facebook going into earnings he'll break it down. plus -- biotech is breaking out. yep, just like that, and chart master has more games to come. we'll give you the setup and -- fast food stocks have been on fire excep