utilities, so a little bit defensive in that nature, but materials and tech following close behind suggesting, of course, there was some positive beat, stocks doing well. we're out of time. morgan, thanks for joining us again today. that does it for "closing bell." >> have a great weekend. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. tonight on "fast," a number of big retailers reporting earnings next week from macy's to home depot and lowe's, but the chart master sees trouble brewing in the charts. plus check out shares of intel soaring on an upgrade from morgan stanley is the old-school chip stock about to go parabolic? first, the dow surging up nearly 200 points. the dow and nasdaq locking in a nine-week winning streak as the u.s. and china inch toward a possible trade deal.

let's get to aim on javeamon jar the very latest. >> reporter: the president met with the chinese vice premier as the high-level delegations came together after a series of negotiations at lower levels among the staff. the chinese delegation announcing they're prepared to stay another couple of days here in washington, d.c., to continue to hammer out some of the details. all of the rhetoric in the meeting today was positive about the chances for a deal between the united states and china before that march 1st deadline to raise tariffs here's how the president sort of handicapped the chances. >> i would say that it's more likely that a deal will happen the fact that they're staying -- this is a very high delegation this is a man who is revered all throughout china as the vice premier. so the fact that they're willing to stay for quite a bit longer period, doubling up the time, that means something i think there's a good chance that it happens. >> so the president saying he thinks there's a good chance

that the deal could come together there was a strange moment, though, in the oval office when the president and his top trade negotiator, robert lighthizer, appeared to disagree about the need for a memorandum of understanding in this deal the president sort of expressing his disdain for memorandums of understanding in general lighthizer pushing back, disagreeing with the president and ultimately capitulating and saying we will not call anything a memorandum of understanding again going forward. so the president getting his way in a negotiation with his own trade negotiator there in the oval office as well, guys. >> and i think he wanted to call it term sheet, as they would like in a real estate transaction, eamon, so i thought that was very telling in terms of what the president's context is in making a deal. >> he brings a commercial real estate background to this. that's his prism that he looks through. >> eamon, in terms of secretary mnuchin's comments on making progress on currency manipulation on the part of china, do we have any understanding as to what that might entail.

>> reporter: we don't. we'll have to do a little more reporting to find out the specifics on that. the way to take all of this is this is a lot of positive rhetoric everybody is signaling progress is being made. everybody is signaling we're getting closer to a deal as they say in these negotiations, nothing is agreed to until everything is agreed to and that's sort of where they are. ultimately it seems like the president wants to put the final ink on this deal, whether it's a memorandum of understanding but he wants to do that face-to-face with xi jinping and that could happen at mar-a-lago in march. >> eamon javers from the white house. it has been a stock market battle royale between the u.s. and china. the s&p 500 is up 11% so far this year while the large cap china etf is up 13%, although it's still in correction territory. so if there is a trade deal, is the u.s. your bet best or does china have more to gain? guy. >> can you tell the crack staff to please stop i thought we established that

this is a miserable song. >> i actually requested it knowing that you think it's miserable. >> i'm not going to answer until they stop. i'll sit here all night. >> then i'll go to tim. >> i would rather be in -- no, go to tim. i'm give you a quick answer. there are two stocks i would rather be in if there's some sort of deal by the way, i'm not certain there's going to be a deal, but i'll tell you caterpillar will trade back to the levels we saw in october, 155. and wynn resorts will trade up to about 155, 160 as well. those are the two places i would go. >> two things that look very similar right now, commodities and china. if you look at what's outperforming, materials and china continuing to the story. we talk every day what's rallied, what's got room to go obviously emerging markets, china, materials, industrials were the most hit back in march of 2018. that to me is exact lly where we're seeing the momentum. shanghai back above the 200-day, first time in a year

this is telling you that you're getting different market participation and different dynamics here. >> well, for me, my concern is that we might have priced a lot of this in maybe we get this pause that refreshes here it doesn't mean that i'm bearish, it's just that in the u.s. we've priced a lot of stuff in frankly even in china we've probably priced a lot of stuff in instead of playing would you rather, i'll go with brother from another mother and go with europe china is their biggest customer. is china is going to recover, then europe is going to recover. so germany, if you want to do the etf, ewg is the etf there. the other thing that's great about going into europe, you don't have the currency dynamics between the u.s. dollar and the chinese yuan that is likely to stay stable where europe can probably cut rates, weaken the euro. >> the bad thing about going to europe is you've got a slowdown across the board, terrible pmis and you've got an ecb with very few things that they can do at

this point. >> they can print all the euros they want. whatever it takes. >> whatever it takes your perception, mel, is what the market thinks. the data coming out of europe the last two quarters has been not great. i think we priced in europe not only grinding to a stop, but that actually you have negative contraction. >> it's interesting, so what eamon was talking about, a memorandum of understanding, it sounds an awful lot like after the g-20 on december 3rd, the level of understanding that we had about a trade deal with china. woe gapped up that morning and flushed after it because people thought there was no teeth to it and did not think the chinese were willing to commit to the sort of things it would take to do a long-standing deal. look at the s&p 500 where we kind of stopped out here, kind of touching on resistance, very near 2800. that was the level in early december, so to me i think there is a lot priced in unless there is something very, very substantive. >> you're acting like this trade

deal is something that has to have substance my view is this is a trade deal -- first of all, we're talking about currency manipulation this is something we've either had the ability to argue about for the last decade and found some way to at time say this is not a big deal both sides want an opportunity for an agreement >> isn't the currency manipulation thing kind of a headline won't we manipulate our currency isn't that what we did it's all smoke and mirrors unless we address those really important issues about intellectual property and technology transfer, those are the big issues it's not the trade deficit. >> from a market perspective, it doesn't matter pause i don't know that this administration will push for protection on ip and fraud and all the other things. >> isn't that exactly what the economists are saying. these are the long-term problems that need to be fixed. it's not the trade deficit issue. >> from the market perspective, let's just say there's no further tariffs and let's say

the tariffs put in place in 2018 were rolled back what would the market reaction be >> in the knee-jerk, positive without question, understanding that we've rallied some 400 or so s&p points from the december 24th low but then the next question is, and you've asked it so i'll answer before you ask it again, does that put the fed back in play b.k. would say probably no and i'd say if you see a reacceleration i'd say yes. >> i think there's no shot the fed comes back they told us they'll look for inflation above 2% before they think about raising rates again. so i think the fed is out of the picture for 2019 i just think that we probably have priced in everything here we know we're not going to get an intellectual property deal in the next three days. we're going to get probably some kind of movement forward but that's what the market has priced in. until the market sells off, i think it's riskier to buy today enclosure l clearly than it was a couple of weeks ago. >> i'm telling you with

expectations so low on global growth, i'm of the view the chinese economy in the second half of the year is going to reaccelerate i think gdp is probably going to be 6.8, maybe 6.78%, which is above where it is now. they have cut rates, they have given you stimulus, they have rrr cuts i think the worst is priced in the same thing with europe i'm not telling you it's great i'm telling you when markets are able to move higher, when they have moved higher in 2016 when there was no growth, it wasn't on earnings are going to be great, it's things aren't as bad as we thought. >> so where in the world on a trade deal would you invest? >> i think the u.s. is obviously -- think about some of the businesses that have been hurt here since the fear of these tariffs. we would see probably increased cap ex we know that's been a problem for much of 2018 that we're expecting. all of the benefit of the tax cut that was supposed to be in cap ex, quickly not kneecaped as soon as the fear of tariffs came in to me i think the u.s. trading

at mid-teens multiple is pretty fair the only thing i get pretty nervous about is this. here we are in the tenth year of this economic recovery and we have a very dovish fed, rates where they are, and all these things they used to dot plot against, they're moving the goal post all over the place and we have a 10-year treasury yield at 2.65 and that doesn't say anything about the reacceleration of global growth. >> i agree with you, stocks and bonds are saying two very different things vix hits 13, eight straight weeks of markets moving higher, vix moving lower that's the whole point i think expectations are very different than they were three months ago and that's for markets enough to keep them inching higher. >> and it's better if the fed is easing for markets we've known that over the last nine years or so that's the entire point. actually the whole last bull market is because fed has been easing the entire time that's good for stocks it's not good for the world, but it's good for stocks in the short run. if you're asking for other

places to play that haven't run as much as the stock markets, why not energy if we're getting a turn-around in europe and in china and we're saying maybe it's going to spill over here to the u.s., you're going to need a lot more oil i think energy is the way to play it. >> here's a plot twist, though. >> i like when you do this. >> a what? >> a plot twist. a trade war with the eu. they just said they would target companies like caterpillar, xerox, samsonite if the u.s. decides we're going put auto tariffs on they have their list of tariffs ready to go. >> so if this deal with the chinese -- then you move on to the next thing. >> like whack-a-mole. >> that's a fun game i hut my hand sometimes because you want to be so quick. >> it's technique, it's not force. >> i'll say this to answer your original question, i'll go back and say tim would agree with this one. u.s. steel was a $46 stock when president trump started talking about tariffs this time last year traded town to $18, $24 now.

i think that's a stock that goes higher i'll just throw this in because why not. the chinese have waited this long they see what's going on i'm sure they watch "60 minutes. they see what's going on in the landscape of the united states their markets have seemingly bottomed and recovered somewhat. why would they be in such a hurry to make some deal when they can string this thing along? that would be my concern. coming up, as we mentioned, the nasdaq posting a record nine-week winning streak it's longest since 1999. if you're worried the party might be over, we'll tell you how you can protect your portfolio. plus intel soaring today and one analyst says it's about to soar another 20% and later, check out shares of kraft the stock having its worst day ever if you're losing money, don't worry, we'll tell you how to make some of it back much more "fast money" right after this you should be mad at airports. excuse me, where is gate 87? you should be mad at non-seasoned travelers.

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for growth so is this a major turning point for this stock, dan? >> i think it has more to do with the macro than anything else bob swan, everyone was very comfortable with that appointment. there didn't seem to be anybody more interesting about it but it's up 12% on the year. it's still well off its 52-week highs and trading at 11 times. here's the thing, expectations are fairly low right now i think earnings and sales are expected to be flat year over year if we get any more clarity on global growth and the situation with trade with china, this company with this balance sheet where they're levered to iot, to data center, this thing will be in the high 50s very soon if all those things happen as far as trade and global growth again in 2019. >> don't you think, though, that intel, which has drastically underperformed the semis as a group, probably 900 basis points year to date is the choice i hear you being bullish, but to me this is a table pounding moment at some level if you believe this is going higher, intel, because of that diversification, because of that

balance sheet and because i think they tend to be overly conservative at times, i think those are the numbers we got in the first quarter. >> if you talk to the sentiment, the majority of analysts on wall street either have holds or sell only about 45% of the analysts on wall street have a buy on this, so there's a lot more room for upgrades on this is my point. so again, break above 50, know where your stop out is that's a great risk/reward trade. why wouldn't you want to buy it? >> it looks like i'm in class and i look over the student to my right's shoulder. >> are you cheating? >> i'm not cheat but he has these great charts and he's right 57.5 if you go back to may of last year is the level this topped out at. that's another 10ish percent from where we are. i think that's pretty reasonable given the market we find ourselves in >> he looks at your screens? >> every day every day. every day. >> by the way, if you believe in intel, do you have to believe in

recovery and data center which had seen a rough patch in the latest quarter as well as pc >> well, pc was a big surprise in 2018. >> right >> expectations were for data center were going to be higher but now they have come down. we're also getting to a point where we're going to see uber, lyft, all these guys go public we're going to see more talk about wamo awe ta autonomous will be something that's valued inside these companies. remember nvidia when it went up 300% in a couple of years. what was it levered to autonomous was one of those big areas. i think intel is well positioned a new ceo who's going to have to make his own mark. these other guys when they have taken over, they'll do some interesting things here. >> like a deal >> possibly a deal they bought a lot of things. >> yeah, and the good thing about intel is it's levered to different industries do you have to believe in data center you can but you don't have to. to dan's point on nvidia, it was one or two things that hit this.

if you want to play that big theme of mobility, intel is probably one of the better ways to play it so you have multiple different levers sentiment, different types of industries that can go with a great risk/reward. >> the problem here is that, first of all, if we feel bad about what enterprise is spending, it's all becoming very commodityized. i think margins probably get less interesting. >> would you rather -- i didn't do the other one would you rather intel or xilinx. >> xilinx. >> you did a power pitch on that >> we power pitched that i think it was a $92 stock i remember dan looked at me and said i'd rather do -- he's rather do something else ha, ha, joke's on you there, pal. but to answer your question,

xilinx, now a $31 billion market cap. i'm not suggesting they buy xilinx but this is the sweet spot of where technology is in 2019. >> i'm melissa lee you're watching "fast money." here's what else is coming up on "fast. wait till you taste it. >> it's a blood bath for shares of kraft heinz the stock getting slammed. but if you're bleeding money, don't worry. mike khouw will tell you how to get some of it back. and i can't deny the fact that you like me right now. >> netflix is heading to the red carpet but will a boatload of oscars really make it an award-winning stock? the traders weigh in thers chor"ft nee'mu me asmoy" right after this

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welcome back to "fast money. a big weekend for netflix as its film "roma" could bring home the oscar for the streaming giant's best picture nomination. it is spending a whopping $25 million. tom rogers commenting on this on cnbc "squawk box" earlier today. >> i don't think it's going to win. and the reason i don't think it's going to win goes to the heart of your question i think it is such a disruptive pick for the academy to end up embracing something that is really going to go to the heart of movie theatrical distribution and the whole windowing system it has >> so can netflix win? is it a loss for the rest of hollywood, guy >> if tom rogers says they're not going to win, they're not going to win tom rogers -- he's on this show and usually sits next to tim,

loves our show he's probably watching right now. stud so if he says not going to win, they're not going win. in terms of the stock, let me be clear. a couple of weeks ago when it was 330, i thought it would trade 300. here we are at 363 four or five months ago at 375, we're approaching that level i think the tape will reverse. if the tape reverses, netflix reverses as well. >> i don't think it has to win they haven't won and it hasn't dented the company one bit it would be nice to have but it's not a must have and maybe you get a little sell-off. the story with netflix is not about whether "roma" wins. i don't know what the movie is about. >> not romo, "roma." >> i like disney here. the way this stock has reacted since they reported their earnings which no one was particularly excited about, it's rallied at 5%, trading at multi-month lows captain marvel is coming in

march, avengers in april, marvel people are going crazy we'll endi the year with something from the "star wars" family. you know another winner? pot. the red carpet is set to look a little groeener as one of the luxury swag bags is filled with cannabis-infused products. they have edibles, topicals made by coda signature, vip membership to the pot shop, moisturizer, facial oil. so the oils won't be the only thing celebs are taking home even hollywood is embracing the cannabis phase. >> i cannabis exfoliated before the show. >> you're glowing. >> but to think about it, california is not only the biggest market in the country, it's the biggest market in the world. this is the largest legal market it's not a surprise when you consider perception change when you think about the country, 80 million people live in a place where adult use is

totally legal. 120 house seats, 20 senate seats. it's not shocking this is going on hollywood is a little edgier than some places as it relates to stuff like this so it's going to be -- even if -- whatever you need to do to watch the movie. >> i wonder if there's going to be thc products in there that should make the oscars interesting. let's do the final trades here >>if you think about the recovery in china, i would make it that i like wynn here i think they continue to outperform. >> b.k. >> energy is the economy so if we are going to get some kind of boost in the economy from the trade deal, from the fed, from whatever you want to talk about it, energy, xop is the way i play it. >> dan. >> stay tuned, carter and i will do a tag team on retail xrt. >> rimmed that off from mike and i. shout out to brad cooper who watches the show

brad, i hope you win -- >> did i laugh a little too heartily at that >> you did brad is watching right now good luck on sunday night. twitter. twitter. don't be scared. they took their medicine already there, mel. >> which move. teth bakrit ion" starts gh afr isre [birds chirping] [birds chirping] [brakes squealing]

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hey there, the guys are getting ready for a big show in the meantime, here's what's coming up. ♪ >> the nasdaq just notched an historic winning streak and dan nathan has a way to make money if the group goes up, down, or nowhere at all and he'll show you how to do it. plus -- >> it's murder. >> it's not. it's ketchup. >> kraft shares are getting killed but if you think the sell-off is overdone