necessarily mean it's a turning point for more momentum? not yet and we'll have to see if that materializes. >> and we'll hear from the other big banks in the beginning of the week >> thank you all for watching and have a lovely weekend. >> "fast money" begins right now. "fast money" starts right now. live from the nasdaq marketsite overlooking new york city's times square i'm melissa les. tim seymour, karen finerman and guy adami. tonight a $33 billion energy deal and chevron buying anadarko petroleum and it could light the whole sector on fire we start with today's market rally and the dow surging nearly 300 points with strong data out of china gives investors a sense of euphoria and here's what sparked the rally from jamie dimon. >> you look at the american economy. the consumer is in good shape. people are going back to the workforce and companies have plenty of capital and it's still up year over year. there's no law that says you

have to stop we do make lyft and look at all of the other things and geopolitical issues and the liquidity and somehow causes a recession, but it may not be in 2019, 2020, 2021 >> and just like that, everything is awesome again. the s&p 500 about a percent away from all-time highs as we head into earnings season, the depths of it, where expectations are low and the fed's on hold even as the economy remains in good shape so is everything awesome now? what are you buying now? >> that's my favorite. >> it's your ringtone. >> it's on my spotify playlist >> who sings it? >> the one you saw last night, melissae melis melissa etheridge. >> he's been saying this for quite some time and quite

frankly he's been right and kudos to everybody, but myself and i would submit that jamie dimon's j.p. morgan $57.50 tangible book. you are getting close to the current price and almost two times priced the tangible book and that's the deep end of the pool and with that said what can you buy. i still think you can buy some of these under the radar retail type of stocks, dollar gen which didn't do anything today and that had a great bounce off the earnings release and big cap pharma is the place to be despite the fact that over the last week, week and a half they sold off >> is everything awesome >> everything is okay and there's good china data. i think, you know, j.p. morgan, that was great, but i think what really set up for it to be great was they really down played that quarter in the 10k they really talked the first quarter down and it's not shocking that it's better because things sort of improved as the quarter went lodge and

they talked about down for trading revenue and that was better and expenses were in line and there are a lot of good things to like and probably shouldn't have been at that price and i'm very happy that it's trading up and i think there's still room to run. >> i don't think anything that happened today is sustainable. i don't think j.p. morgan is sustainable. >> everything is not awesome j.p. morgan was my final trade because it's about positioning and i think it's about emerging marketis and think it's about the trade deal and i think it's about a ton of things that are going on and i just don't think that they're sustainable, but i still think that you can buy energy and financials until this plays out. >> so, look, everything is awesome. one of the problems is that everything seems awesome to everybody else, as well. so we look at the viks the thing that worried me is 1220 on the viks, 12.2, that means there is no risk, no fed dollar is weaker and by the way, we also now have an energy

sector which indicates m & a and more is coming for every other sector so why isn't everything really, really awesome because the bullishness among investors right now is probably getting a little bit euphoric and if you look at the bull bear indicator, we have a spread of almost 40 on bull bear and this is through where we were in terms of bullishness >> so today's bank earnings were exactly from -- dare i i think there are a lot of people that don't give positions going into the position and we got the eves if you wanted to pick apart and they were seeing the economic indicators foreshadowing an uptick and that's why they increased the provisions and the expectations for banks in particular were so low going into the season.

how are we setting up for the bulk of the markets and the areas of the markets like the industrials, for instance. >> boeing and caterpillar obviously are two extremely different story, but i think they're both very interesting and i think they report next week i think on the 24th so if i'm looking for anything it's boeing and caterpillar. caterpillar, the poster child for global growth and what's going on with boeing over the last couple of weeks again, i think earnings are fine i don't think they're overwhelmingly fantastic and to tim's point, the market's gotten so complacent. what's the difference between what happened towards the beginning to the end of december as opposed to what we're seeing now. you had huge negative sentiment and now you have thea exact same thing the other way. the fact that the viks closed at 12 today to me and the bar is set so low everyone was waiting for this earnings recession. so if you're going to have the earnings recession -- people were rooking at going negative and people look at recession as

we're going negative on earnings not that we're going slightly lower and eps will only be up x percentage so i think we got overly negative to guy's point. >> you sound kind of bullish. >> i'm bullish enough so that the laggards can catch up a bit here look at what happened today. you had software stocks sell off and you had biotechs sell off, but what ran financials and nergy, it is laggards >> that to me is not a lot of conviction >> fedex is well beyond where it was when it missed and i think the bar was low, ooze the quarter went on the economy improved and confidence came through and to me it's not so much, what are they allowing now? if we have a trade deal that can be the ballast to hold it steady. >> what changed in the beginning of december to the end of

december the fed changed and then in january throughout this quarter, we had confirmation that the fed is really on the sidelines so are we complacent, but for good reason, because the fed is completely out of the picture and rates are so low >> yes i don't think you fight central banks and it's the most important factor that markets are facing and if rates stay low and there's plenty to go remember also we're coming back into the market and pboc is not done i think china has a lot more to do, and i think with the weaker dollar you have a lot of room for the resource trades that have underperformed in the last week, and copper is down 2% a couple of days ago and freeport and all of the steels and i bought calls on u.s. steel and a position i have that's slightly long and i added some call because this to me is a time when you're getting r reaffirmation and you can't tell me they're not going to continue to be pushing it here and wooe starting to get, i know you love this term, guy, some green

shoots coming out of the european union if you look at industrial production this week. it was a lot better. >> do you like that expression >> i don't like green shoots and goldilocks it makes me crazy. hump day -- >> turkey day. >> i mean, we should do a list online >> many people would be fascinated >> do you see green shoots coming out of europe >> tim's the european expert i think the level -- it's getting less bad, right? if that's green shoots then that's a good thing. sometimes and you make the point all the time sometimes that's the best time to be in stocks when things are getting less bad, not necessarily turning the corner >> i don't know -- the dax, it's taken forever for this thing to break out. it's now well above the 200 day and i would watch the dax and the m because until they break down they've been moving higher. >> i'm not sure they're getting less bad and maybe i'm one off here and there in terms of data point, but i don't know what the

ecb will do to solve problem and they're doubting even their own resolve that stimulus and they've had three, four, five years of stimulus. a lot of these marks are at the same spot where we started this massive stimulus. >> i get that, and all i would say is we are teb years into a post-crisis environment where we've never had substantial growth take hold and when we started to get it last year, we threw trade tariffs and botched it all down. what's allowed them to have the central bank if this change it, it doesn't mean we shouldn't be cautious of the risk, but this has been a move higher for a lot of, but, karen, you're combon to had the

the position, the vix on the swefl, i want to stay long what i own and so to be able to sleep at neat you've dotd to buy protection here and hope that it goes to zero. >> if you look at the ipo in september and summer there's a lot of volatility ahead and ney reason to not take an opportunity of the vix at 12 >> so tim said something and he's right, but my pushback would be, i think we learned central banks can never normalized and they're not allowed to because the markets won't allow them to and if that's the case can the markets go up in perpetuity and that's effectively the calculous. >> you don't think that if the economic data were hands down undeniably strong that the markets would be able to normalize? >> it's the greatest economy in thehistory it's not my words. >> powell also said that he was going to raise rates there was a 180 that was pulled and that's what confused the overall markets.

powell had a different stance on the overall markets. he thought that the markets were on a much stronger footing or else if he krncannot on. >> the markets or the economy. >> the economy if it wasn't on strong footing that he should never have spoken the way he did in early october. >> i think he misspoke and i also think at that they were surprised at how inflation was non-existent. >> i have a problem with that, too, though. i don't think you're telling me that there's no inflation, but i'll tell you, we have a lot of ppi around the world this week and we had it in the united states we're 20 months above 2% on core ppi. we have inflation and the measurement of inflation is totally screwed up and the bottom line is it's moving straight through, with higher wages and seeing it in the form of everything other than buying t-shirts and caps. >> so what do you do with rates? is he wrong to keep rates where they're at now >> i wouldn't do anything with

rates right now. we don't have the u.s. economy printing anywhere near recession and we're at 2% and i would let it ride. >> the dow's big rally being led by shares of disney announcing the terms of its new streaming service. bob iger sat down with david faber on "squawk on the street" earlier today. >> we will continue to put our resources behind them toy kr cr programming. long term you have to put the consumer first if we put hulu and espn and disney plus into one product the only way you can get these things is one, that's doing exactly what the consumer today doesn't want now if there are consumers that want it that way, we'll give it to them that way and hopefully, ultimately, one user name and one password and make it really easy at a discount. >> disney posting its best day after a decade will the streaming service live

up to this hype? >> what do you do with an 11.5% on a product that won't launch for years? >> i won't do anything it was giving disney a reason to break out. everyone with this issue with disney and trade for example a long time, you've got your, and this was a catalyst and whether you believe they'll get 60 to 90 and the profitability will start to happen by 20 twaef. >> died owes to a couple of the analysts and a lot of people have been telegraphed. >> i probably wouldn't chase it utsch here as you said, it was a long time and to me the most interesting was contracting their release and their description with apple and how lacking apple was. just in details about what their product is and then if disney is coming at this with everything and they're spending what they have to spend, it really makes me wonder how does netflix keep

this valuation >> down 4.5% today >> i don't think the -- i don't think the numbers and i don't think people will go out i think there's enough of the pie for people to have disney, for people to have netflix, and you don't see it in the polling data that people are going to drop netflix they have both. >> they're only going to have so many dollars to spend per month. part of the netflix valuation is you know what? their users are price insensitive and i don't know if that will be the case going forward. >> guy >> we said last night above 120 is the breakout and tim just alluded to that and it's broken out on tremendous volume however, now you have disney trading at 21 times next year's numbers and that's a hefty valuation given this announcement and they report on may 8th so the question you have to ask yourself is do you take money off the table to tim's point, and i don't know the answer, but you have to know that it's coming and it's coming

soon. >> his earnings season kicks off, there is one that will be the belgest loser, sharp on setting the energy sector on fire with the $. 3 billion and we are live in times square in new york city. much more "fast money" right after this od! so good to see yo. it's late, where are you? i'm at work. oh gosh, so late. i know, but guess what? what? i've saved enough to come visit you. well, that's such great news! at u.s. bank, we believe that hard work works. and for everyone working toward a goal, we're here to help.

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now through april 14. >> welcome back to "fast money." chevron buying anadarko for $33 billion in cash, this comes as david faber reported occidental also bid $70 a share with deal fever hitting the sector we figured this would be a great time to play a fast money classic. matchmaker >> oh! >> what is the perfect energy match? tim seymour, what do you say >> i would add two companies that are very well known both attractive. could be attractive to each other for the following reasons. let's talk about exxon and chesapeake exxon, massive balance sheet and has not been growing on the upstream and has the ability to exert a lot of cost efficiencies and chesapeake has a bouncy cleanup and divestitures in the

next year and basically a place where exxon made a massive investment in xto. i like this deal because it's a case where you can actually improve the dynamics at chesapeake very quickly with a company like exxon with discipline, cost discipline and some scale >> let me push back a little bit on that. so i can see that, but chesapeake isn't as big as some of the other ones out there. >> no, it's not. >> if you're exxon, you want to move the needle with the deal. >> and no permeon centric at all so they sold that a while ago and the xt odile blo deal blew their face versusic maing a splash on this >> my view is there are assets that it can improve upon and the chevron, anadarko deal is a game changer for both company, but i don't think you need to have that for chesapeake. it is for chesapeake. >> next, you're up next to play

this game. chairwoman. >> yes >> what's the perfect match? >> exxon, making the rounds. a little slutty. >> oh! >> friendly. it's a permeon thing and i would love to play matchmaker, but it's fun and if occidental is out there, as well then there's this animal spirit trying to look to do deals and that happens. that would be my pick. >> this is unprecedented because we asked all these guy, the two players and everyone said exxon and somebody else. so grasso. >> i'm going to say exxon as well and there are two other companies just to state it for the people looking at the spot. >> total. >> if you're going to go into buying a company as david faber reported it could have been an anadarko-occe. it doesn't have to be a major. >> it doesn't have to be there could be a lot of mid-tier capitalization companies >> with that said, exxon and --

>> for me it's cxo i do believe you want to have a permeon presence and the good acreage. the way they match up. exxon and they haconcho, they ae together. >> to your point we weren't together >> we independently decided exxon should buy something >> i calm up with apache this is probably about a $25 billion deal, bigger than chesapeake and it would make sense for exxon in a number of levels to have the operations here and uk and in egypt, the same type of balance sheet issues and not as bad as chesapeake and all of these companies are somewhat levered if exxon can unleash the potential of these company, it makes a lot of sense so apa >> for more of chevron's anadarko deal, i'm melissa lee, you're watching cnbc first in business worldwide. here what else issing co coming

fast. >> you know how much i love television. >> yes the chart master sees something in the charts that could explain everything >> get ready to enjoy some of the rarest weed known to mankind. >> the cannabis craze is heating up, and with the high holiday just around the corner, weed week is coming to "fast money. om'll break down how to profit fr the reefer madness. there's much more "fast money" after this quick break which led to new adventures, ♪ that captured their imaginations ♪ and turned moments into memories. with flights, hotels, activities and more for your florida vacation, expedia has everything you need to go.

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excuse me, where is gate 87? you should be mad at non-seasoned travelers. and they took my toothpaste away. and you should be mad at people who take unnecessary risks. how dare you, he's my emotional support snake. but you're not mad, because you have e*trade, whose tech helps you understand the risk and reward potential on an options trade it's a paste. it's not liquid or a gel. and even explore what-if scenarios. where's gate 87? don't get mad. get e*trade and start trading today. welcome back to "fast money. time for a major buzz kill on united health. 10% this wreak and hitting a 52-week low after presidential

candidate bernie sanders earlier this week doubled down on his medicare for all bill which would get rid of private health insurance and create one government-run system and not the only company feeling under the weather and humana down on the news, as well. >> i think unh is one of the great companies out there and this is basically a $300 stock in early december, i think, and you've seen the drop that it's had since then all on basically all this chatter i think they're going to come out i think on april 16th and have a fantastic quarter and you're talking about valuations that this stock probably hasn't seen in quite some time. i would be inclined to buy ahead of this and this is a shoot first in terms of the stock and ask questions later. >> i agree with that for years ever since obamacare was announced there was the threat of obamacare being dismantled and this, i think, will end up being the same thing again. i don't think the republicans want to take that up right now, and so i think that this is way overdone

i think it will fade i think the earnings will be good and i don't think the street cares about that, but it seems overdone to me >> the only problem is i agree that the republicans shouldn't on paper want to take this up and this medicare for all and with rebates trying to go directly to the patient, all these things are major headwinds for the entire space and i do think it's a bipartisan issue. >> time for the final trade. >> that time tim? >> as if we didn't spend much time and this is ultimately a cleanup story that started to clean up on the nat gas side i like chesapeake. >> grasso? >> i'll stick with matador mtdr, permanent exposure it's a lower cap stock and about a $2 billion market cap. matador. >> chairwoman. >> anthem, i do own some already and i'll buy some options and they report i believe it's april 24th and i think this is overdone >> guy

>> i can't wait to see the guys here on set for options action in a few minutes it's the highlight of my week. >> the traders may not be here >> apache. iup rht with an empty desk. its ig up after this stay here.

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hey there, we're live at the nasdaq marketsite on this friday afternoon. the guys are getting ready for a big show here's what's coming up. >> you really don't know how netflix works? >> don't worry we've got you covered as the streaming giant gears up for earnings next week and mike ko will tell you how to make money if you think this hot stock is about to cool off. plus -- there's one casino stock that's soaring >> gambling? who said anything about gambling in it's not gambling when you know you're going to win >> brian stud has the perfect trade for you to cash in on the rally. he'll tell you the name and how