the latest read on inflation as well as delta and bed, bath and beyond thursday highlights include the weekly jobless claims and we'll get march import prices and april consumer sentiments and earnings reports from wells fargo, pnc and first public. that does it for closing bell. thank you very much for watching >> have a good weekend "fast money" begins right now. "fast money" begins right now live from the nasdaq marketsite overluking times square it is a quantitative quarrel president trump and jerome powell facing off as trump doubles down on his push for the federal reserve to cut rates, but the market already knows who the winner is. we will explain and check out energy soaring today the best performing sector and j.p. morgan says this trade is about to catch fire. we will show you the chart that could point to even bigger gain ahead. but first, we start off with the markets and the s&p 500 locking in its seventh day in a row and

the longest winning streak since october 2017 and less than 2% away from the all-time high and check out the champions this week wynn up a whopping 18% and advanced microdevices soaring 14% and delta air lines jumping 12% and look at the macy's move up 12% so it would be a perfect time to play a little trade it or fade it we'll get right to it, guys. grasso, we kick it off with you, wynn, trade it or fade it. >> i'm going to say fade this one, but a lot of things have gone right -- >> macao gaming was up and that's the last push in this one. no china recession or earnings recession there, but i do believe that it's front loaded and you have to feed it at this point and it's a lot and the numbers are ready. >> we've been talking so much and i realize you're not ter believy sold on the global recovery bottom line, i think a lot of wynn's pain has not just been

macao, but the china trade and certainly the pressure the casinos and those mostly exposed to asia and i don't think the wynn is the macao story and what's going on in massachusetts they have a couple of new properties and the valuation relative to the peer group is most compelling and i'm trading this one >> yeah. i'm going with you and i'll trade it on that one, as well. i do think china is a big driver of this if that economy is going to be doing better, if they're stimulating it that's goin but t of other growth levers that are going on otherwise they had serious pr issues out there and it ap they've gotten through that and now that they can start growing in the u.s. it's up. >> it's up 42% year to date and that is in the numbers and if the china trade deal is lackluster, then it could already be -- our president told them they would be great >> they beth said it, but i think that's a reason why you see, obviously macao numbers were the reason why the latest

spike we saw are up and the china trade positive already in the stock price. >> let's talk a little amd here. tim seymour, trade it or fade it, and i realize that probably i would have gotten the stock wrong in the early part of last year it's up 77% off the lows and get to the fundamentals. i think demand is soft and these guys may see an inventory drag in the second half part of the year after what i think is a combination of i think people got into the momentum trade on the down side and short of this, and they had decent number, but i would fade this one, say it again. >> i would also fade it and it's up 50%, and i have to say that the sentiment was really poor. now it's the exact opposite situation when you talk about the potential for the inventory drag into the second half and i think it's real. i want to mention 2018 for this stock was phenomenal you take out the move in late q3 and q4 and it showed strength

into the end of q 4. they are well positioned and took advantage of problems that intel had last year. i'm not buying the stock into the q1 print up 55% on the year. >> i don't know how to say this, but i would wait for a pullback and then trade it. does that make sense >>. >> the rules of the game >> i guess it's a trade. listen, it's up and it's had a really good run here it's correlated with global pmis, that's fantastic and it's a prove-me story that's what i'm trying to say. i would buy on a pullback, or if you get the momentum through 30 bucks -- >> i would fade it is it based on at all, bitcoin action at all and if you overlay the charts -- you had an analyst downgrade intel or they didn't upgrade amd and they noted competition from amd on intel

and you would think it would be bullish and with the stock spiking this much, its a volatile number. [ indiscernible >> bullish, bullish. >> all right we will move on here delta? >> i like delta here we're getting a global recovery and delta is most exposed to that and it's had a tremendous week and you have momentum going on and earnings on wednesday at some point oil becomes a bit of a drag potentially to this, but it's exposed to the global recovery, the china deal, you name it. it's in the stock. we would see price caps because you would think the u.s. producer would kick in and bring the price down with airlines, this is what's often brought up and it's relevant except for the fact that they do a good job or bad job hedging and airlines

like pricing power to add on prices so i actually don't think this is negative. for delta, in other words, it was as expected and the numbers were better than expected and the valuation to me was most attractive, and best in the group, nice dividend and stay long >> the non-fuel costs didn't go up as much as they thought they guild up and that was a tailwind here and this is about the amex deal being pushed higher and this is bullish and they didn't have the exposure to bullish, but i would say fade it. >> whoa! >> whoa! >> i just think from a trading standpoint you had the news and the stock went parabolic and you had the earnings event and the likelihood of them being able to follow up this week and next week is not great and you should have a consolidation and possibly a pullback. >> this one's for dan.

macy's, trade it or fade it? >> sorry about that. i would trade it and here's why. here's the situation where i know you guys love the valuation and the sentiment is downright horrible the consumer data has been a bit mixed, but i think what's going on let me tell you all these department stores are like death. structurally, there are problems there and expectations are really low and we're looking for a double-digit earnings decline there and flat sales of 25 billion and here's my take of a macy's that has this sort of brand and ultimately you see this online bricks and mortar and this sort of thing and i don't think you'll figure it out on your own and i think you'll see broader partnerships in 2019 and i think it's cheap with eight times earning. >> the consensus has been bearish and it's worth -- the market cap is under $8 million i think in a perfect world for

macy's it would be worth their 20 million and i would be bullish, bullish. >> this is not the game, by the way. bonus round, because the s&p 500 is about 2% from all-time high, trade it or fade it? tim. >> i'm talking about a short-term outlook and i think it continues to squeeze higher and the numbers we had today and the global pmis are better than u.s. numbers these days. you trade the s&p here >> yeah. you trade it it's bullish, bullish. basically, listen, if every single central bank and every government wants to stimulate that's positive for stocks at some point it becomes a negative, but i don't think it is. >> boeing shares are down in the after-hours session and phil lebeau joins us now with the latest phil >> it's not often and you have to go back a number of years and the last time i can remember

boeing cutting production on the 737 you have to go back pre-recession. it doesn't happen very often i know they did right after 9/11 and that's what they're doing here at the 737 plant in renton, washington the production level was at 52 per month and by the middle of this month they'll be reducing it back to 42 a month and that's a 20% cut bringing it back to levels last seen in 2016 and announcing this move, the company made it very clear they are going to be very busy focusing on the 737 max software fix, getting that certified by the faa and other regulators and then getting this plane back in the air again so it's not grounded and in the meantime they thought the prudent thing would be not to continue building at the current rate and they're cutting production by 20%. the ripple effect, if you will, in the aviation industry and for supplier, it's being seen after hours and spirit aerosystems and they build the fuselage for the

737 max and they're noticing a hit and unite technologies and their pressure which is not seeing as much pressure. we should note that ge of a yagsz tell says me, it will not, it will not -- and as you look at shares of boeing keep in mind that the focus for this company is getting this 737 max software fixed, finalized in the coming weeks and then getting it to regulators and how long it takes them, melissa, it's hard to say. most on wall street are saying, look, if you think this plane will be in the air before june 1st, that's very optimistic and i'm hearing people say i wouldn't be surprised if the grounding lasts well into june if not potentially later. >> phil, thank you phil lebeau joining us from chicago. with this move after hours, boeing is down 10% since the

deadly ethiopian crash what do you think? >> that's it 10%. >> from basically all-time highs and 350 people lose their lives sdpshgs it's knowing three i think there will be a huge impact and the product is the start of that. >> wife% year-over-year growth >> how do the somebodies still exist where they are i'm shocked at where it is. >> all of those forecasts would have to come down after the production cut, i think, right >> we're still playing the game and dan is obviously fading it >> he's bearish. >> this production cut is not a surprise, right? it should not be a surprise at all and they announced the software fix that they have to go through, and i think it's probably not only the thing to do, but it's probably good news

for the company and they have to go back and they're essentially working through some of the problems and the fact that they're effectively grounded doesn't -- i think it takes the pressure off, frankly. you can't underestimate the impact and the calamity is enormous and that headline just now, it doesn't worry me at all. >> all right coming up, check out the mystery chart. j.p. morgan says this chart points to a major energy rally and ahead we'll tell you why it's so bullish. lyft, the stock is back above aip spak and he'll explain how to play the wild ride. there is one sckto that about that, and we are live in new york's times square. much more fast money after this.

if you have a garden you know,

weeds are lowdown little scoundrels. draw the line with roundup. the sure shot wand extends with a protective shield to target weeds precisely and kill them right down to the root. roundup brand. trusted for over 40 years. woi felt completely helpless. trashed online, my entire career and business were in jeopardy. i called reputation defender. they were able to restore my good name. if you're under attack, i recommend calling reputation defender. and consider joining their groundbreaking campaign to give every american the right to remove old, inaccurate search results by going to righttobeforgotten.org. vo: if you have search results that are wrong or unfair, call reputation defender at 1-877-492-6705. all of you. how you live, what you love. that's what inspired us to create america's most advanced internet. internet that puts you in charge. that protects what's important.

it handles everything, and reaches everywhere. this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome. >> i programly thiersonally thi should drop rates and there's no inflation, and i would say in terms of quantitative tightening and i would say it's quantitative easing. very little, if any, inflation, and i think they should drop rates and they should get rid of quaint tati quantitative tightening and you would see a rocket ship despite us doing very well. >> that was president trump doubling down for the fed to cut rates and move to quantitative easing it doesn't look like the market thinks trump will get his way.

we didn't see any sort of rally in terms of equity and we didn't see much of movement in the bond market and the dollar would typically get a hit and we're sitting more dovish and is the market actually betting that the fed will stand his ground and that he will not get his way >> not surprising, a lot of parts of those statements are totally conflicting and some of them didn't make any sense sorry. what i like about our federal reserve is that they've got a mandate that tends to be independent. bottom line is wages were soft and we had the ism which was fine and this economy does not warrant a 50% basis. the fed changing gears and and the market already did run and he's just stating wh market wanted and the market wanted the end -- >> so i don't think that they're

going to get their cut right now. i don't think the market thinks that they're going to get their cut right now, but it's addicted to easy money. so i don't think he said anything that was not correct, but he uses his barometer -- >> listen -- >> no, what i'm saying is that the market, if he said you will see a market skyrocket if they cut rates, you will see a market skyrocket. that's what this has been about. >> i'm not sure that you look at the markets and you look at the dollar and it was stronger today. i don't think that's a reflection of the market thinking the fed is not going to cut rates. it's more a reflection of what's going on in europe you have the european central bank meeting next week the real question with currencies now is who will be more dovish faster and the odds are that the europeans will be more dovish faster and it is around $98 on the dixie. >> and would the dovish race would cut interest rates by 50

basis points. >> the process to get from the stance they are now to a rate cut, to a 50 business point rate cut will take multiple meetings whereas the europeans will likely do it next week, and you could have a huge move in the dollar if it breaks out above 98 i think you can see a very, very big move in the dollar >> the central bank differentials and brian is talking about some of the dysfunction in the european union. i think the bottom line is that the fed has basically made a very quick change in direction and that alone is what has had the market correct, 50 bits more >> with the s&p up 15% on the year approaching the prior all-time highs if we were to get into an ultra dovish thing, it would be a disaster for equities if you talk about inverting the yield curve, you would have that happen where it spread, and that would happen very quickly and we're on recession watch >> let's talk about oil prices

because the dollar move will impact oil prices, and theoretically the breakout would cause lower oil prices and j.p. morgan is not worried about that this is the chart of the day j.p. morgan says energy stocks are the best risk reward sector and oil is the highest level above 65 bucks a barrel and take a look while the energy sector is up 15% and it has lagged behind crude every sub sector of energy has underperformed the physical oil commodity and that will cause a catch-up trade and the oil short interest is very high at this point and they also say asset managers are underweight oil or they've cut back their coverage of the stocks to a point where it indicates they don't care about the sector too much. >> there's a question about is there some kind of change in the secular demand for oil if you look at how oil is traded every piece of negative news from oil, and all the market did was suck up the news and go higher >> i think you have the opportunity to go higher with

the oil-related stocks and xle, i think you can buy a basket and oil looks like it wants to go substantially higher and even if the economy gets weak, it doesn't matter and it looks like it will go higher. >> e and e is what the sector likes the most. >> people like the large, integrated names out of safety and concerns and oil has not backed up. so it's going to be a leveraged squeeze into a lot of these names and the way you set up this spotted is people are underinvested in the sub sectors and that's what they're reaching for right now. i don't believe they should, but i believe that's what's going on >> we have a news alert on lyft. leslie picker has the story. leslie >> hey, melissa, this is a statement from morgan stanley in response to a report in the information which said that lyft sent a letter to morgan stanley asking for more questions about whether or not they created a product designed specifically to short lyft shares and skirt

lockup requirements. that was from "the new york post" earlier this week and morgan stanley saying in response to that article that they did not execute directly or indirectly a sale, hedge swap or transfer of risk or otherwise known to us to be the subject of a lyft lockup equipment and any suggestion that morgan stanley engaged in pressure to lyft is false. they are currently on a response to lyft now. back over to you >> leslie, thank you leslie picker at the new york stock exchange with the latest we'll have much more on lyft on options action in the next half hour i'm melissa lee. you're watching "fast money," first in business worldwide. here's what else is coming up on fast. >> ooh, somebody stop me >> it seems like nothing can

stop this market rally, but if you missed a run, don't worry. the chart master says there's one group of stocks that will help you get in on the party >> is this march madness i love march madness. >> me, too and in the final four, two stocks are getting ready to go head to head and the traders will tell you who the alre champion will be there's much more "fast money" after this th a wealth manager who can grow with you. cfa charterholders have the investment expertise to unlock opportunities other advisors might not see. learn what a cfa charterholdr can do for you at therightquestion.org

verizon got us vip tickets three feet away from justin timberlake. and to say vip is an understatement, because i sawww justin timberlake. so he literally looked into the phone and started dancing-- well, he was already dancing-- locked eyes and continued dancing. i still have to like pinch myself and make sure i'm not dreaming. every now and then, i'm like, "wait, did that happen?" (gasps) i've got photos of it, it must have. (vo) get more music on us with vip tickets to the best shows, like shawn mendes and camila cabello. plus, save big when you switch. only on verizon.

>> welcome back to "fast money." the ncaa championship heat upg as the four teams go head to head this weekend and there's competition off the courts as well and nike and underarmour representing two of the final four men's teams and underarmour kev kevin plank talking to sarah eisen discussing the company's growth both domestically and abroad >> the energy for this brand and having this global basis that we can build on is a powerful foot for us to build on and allows us to put north america, and stabilize north america which

we've been able to do and now we can get our ducks in a row and i feel great where we are and where we're headed. >> the two biggest names in sportswear face off, and we thought it would be a good time to play would you rather. >> grasso, underam our or nieky? >> i would go with underarmour, up 15% versus nike and it's not north america. the problem is if they can stabilize north america it is basically down around 2% while international was up somewhere in the mid-teens the problem is international is only about 25% of revenues so they need to stabilize north america. this will help them. i think the brand exposure and the exposure period in north america should help them i would stay with under armour that's my would you rather. >> exactly right unstabilization is the key here and the chart to me looks like it wants to break a little bit lower and under armour, if they

can stabilize here it's probably the better bet and i would trade it bullish, bullish. >> nike is so far ahead of these guys to me in terms of their business and they're actually making money look, it's about financial discipline and efficiency and that's not a great story and the new management team that will take them time and it's not even close here and it's not as easy to jump into the play here in honor of the final four showdown and our traders are giving their own slam dunk stocks and we kick it off with, tim, what's your pick? >> i'll keep going here. nike is the story and the chinese businesses we talked about is very important and innovation means these guys get the price and they're not discounting nike. >> it's a name that has performed and will continue to perform and they own the dating world, match.com >> brian >> for me, you want something that's really going to pop on

the jump rig, transocean. >> i'm reiterating it and they upgraded the stock after the close today and this thing has momentum to keep going on. >> that does it for us here on fast and we'll see you back here monday at 5:00 don't go anywhere. "options action" starts right after this and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today.

♪ ♪ ♪ ♪ california phones offers free specialized phones... like cordless phones,

- (phone ringing) - big button, and volume-enhanced phones. get details on this state program. call or visit

and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program call or visit >> hello there we're live at the nasdaq marketsite the guys are getting ready for a big show while they're doing that, here's what's coming up >> i'm so excited! i'm so excited i'm so -- scared >> big banks kick off earnings season next week, but after you hear what dan has to say about one name, you might want to curb your enthusiasm. he'll break down the trade plus -- lyft options just started trading. >> that's cool and all, but dude, where's my car >> after a wil