market rallied big and still coexisting with that idea that the fed is leaning in an easier direction so that seems to be the story for the moment >> reits were on top this year and technology has now edged out reits again. today it had a strong balance. >> i'm just going to read the script today. >> that does it for "closing bell." "fast money" begins right now. "fast money" does start right now. live from the market i'm joe curran i'm not coming back until i have 500 points as least and look what happened today. i am in for melissa lee. our traders are karen finerman and guy adami. mike wilson, chief equity strategist at morgan stanley joining us tonight on the show it was a huge day for the markets, green across the screen and there's one group of stocks that could be in for a reality check. we will explain, plus the fang stocks showing signs of life and

the nasdaq up almost 3% and we did have the anti-trust apocalypse and to tell us yet worst might be over for this group. we'll start tonight with the stocks catching fed fever and the dow surging over 500 points closing at the highs of the session and the best day since january, two days before my birthday and techs and financials leading the way as jerome powell said it will do whatever it takes to keep theic co economic expansion is this fed fever getting too hot to handle? when it went on pause it came back from december, 40%. you get half a point what is that worth that must be worth something. >> welcome, joe. >> i don't show up for less than 500. >> up or down. >> i can only hope for tomorrow. another 500 tomorrow, you're back >> don't count us out. >> is it an up move? >> up's better than down

does the fed save the market obviously for today it did tim alluded to this yesterday. the conditions were absolutely ripe for a move like this, and karen spoke about this you a couple of weeks ago and it would be bullish for the market and again, i still think wooe headed back down to 2650 and it's only 80 or so handles and i think that's still the move and the fundamental problems that take us down still exist and the fed can talk all they want, but i'm not certain that they're as powerful as they were a year ago or so. >> whether the fed was right or wrong in doing what they may or may not do i think the markets are so far ahead of it right now i don't think the fed told us any of that, and what was interesting about today, say they had a two-day fed research meeting going on in chicago where the tone and the speech was out there and you got a sense that the market was reading all of this, if i go

over vice chair claret and kashkari who is the uber dub of this group and not one of these guys said we're ready to cut any time soon and that's what i heard and if the markets are expecting the fed to jump in here where we've averaged 2.3% gdp and unemployment at 2.8% and by the way, i'm quoting clarity on this. i think the market is on sides >> that meeting and other meetings that they've had this year have all been about the new policies that they're going to come out with and potentially inflation targeting. so they are going to stay a lot easier for a lot longer until they get inflation above 2% and probably let it run above 2% if the market is reacting to that, then i think that's relatively bullish for stocks. the market is in a position where it could get disappointed where they'll get 50 basis points and 25 basis points and that's it, but if the market is reacting to inflation targeting, and this is sustainable.

you bring inflation and it causes a slowdown. charlie evans on our show was talking about we've got room we've got room with inflation and even with the tariffs and they'd like to err on the high side of inflation. >> do youio know there will be inflation and the fed won't do anything >> i think they like to err above 2% is what i was hearing from charlie, vans >> what they used to have was data dependent and we'll let it go past 2% and we don't need to react to that. it is interpreted as dovish. i think that given how badly the markets were oversold, this is a really nice rally, but we're only back it where we were wednesday, right after that horrific month. so it's good in the short term, and i am very concerned that we don't have a deal and this is the most i've been concerned for

a while and the longer the uncertainty is out there, the more difficult it is for businesses to disband and then we get into this vicious cycle. >> it sounds like we're all saying that today is mostly about the fed and there's not a glimmer of trade. >> the chinese ministry said something nice, sort of. less mean. >> mike wilson's colleague on. retail up with the rest of the market jumping 3%, its best day since january. that brings us to the chart of the day, and mike, can you explain what this means for us and i memorized your year-end targets and 3,000 will hit and 2800 is the bear case because your colleague was on this morning and andrew slimming. your ears were burning >> that's great. we got double time today that's great your chart that you're bringing is showing trouble in

consumerville. you're sticking with it, toe >> tim already said it the market is ahead of not only the fed and they're ahead of people talking about the markets and they've been underperforming for quite a while and this chart is an equal weighted basket and it's not just amazon and it's a more balanced view and this is telling you unequivocally that things are slowing in the domestic economy where everybody thinks and it's a global problem, right they're saying the u.s. economy is fine and what i'm seeing from the marketplace and we're seeing from the data and what the companies are saying is that the consumer is potentially slowing down more than people think. going back to the fed, january 4th is when they hinted at a pause and we had the 500-point valley and there's a difference between the pause and the cut. so when the fed pauses after a long rate hiking campaign which they completed the market always rallies between 20% and 30% and

that's what we got this year if they're moving to a cut, that's typically not great for cuts and i don't know how fast they're going to achieve that and my suspicion in the next three to six months we'll see more negative, economic data and more negative earnings data and more trade conflict potentially and no resolution and that could get us to 2650 >> all of those negative things makes the fed more dovish and stocks go higher. >> at some point the fed loses its power to make the stocks go higher >> look, the question is are we going to recession or not, okay? and the risk of recession has gone up materially this year even before the trade conflict is unresolved and it does raise the risk that we could enter a brief recession for a couple of quarters in that case, if the fed is cutting rates, the curve stephens and it's not a good sign for the broader market and

that's why early cycle stocks is interesting. >> you talked about, mike that jan 4th date and since that point, retail stocks have underperformed the s&p by almost 16%. 16% relative to the s&p since john 4 which speaks to this dynamic. whether the fed's mandate is right or wrong, the fed can be right down the fairway of what they're supposed to do and be totally wrong about the economy. they're not supposed to be anticipating and they're not supposed to be tactical. they're supposed to be late to the party and that could be doubly bad for equity baz we have a dynamic where we're almost know and i was almost embarrassed to look at gdp because we know that's a backwards market and for the fed, their data says they should doa be salutely zero and i would reiterate that bond markets are way too far ahead of the fed >> why can't some of the consumer weakness being in the names that aren't transitioning from brick and mortar?

we saw the bifurcation of retailers and some were awful and some were great. if we don't see a bad number on friday, you're sticking with the possibility of a recession in 2019. >> it depends on how the dynamics play out with trade and yeah, the risk of recession is higher than normal >> 15% is a typical -- and it's probably closer to 30 plus >> for 2019? >> for the next 12 months, okay? >> with respect to the retail stocks, they're disdowning this and they're figuring out the minute you enters a recession, and these stocks typically bounce and they are still important for the consumer because these stocks all rallied last year and there was a big fiscal stimulus and a tax cut for the consumer and they spent it the comparisons are difficult and we'll have the hard time to move the extra inventory that's out there. it's want just amazon.

this is to health, and then you hit kohl's, nordstrom. the general, and tip being he, it still looks leak the ones who knew how to do digital and spend the money a? consumer, play into it will target is a discount skoan it's the consumer. >> other than consumer, what's one other data point that shows you that the economy is ready to roll over? because it's certainly a split >> our thing has been that the uniu.s. is in a unique position and the fiscal stimulus, the timing of it was actually the mistake, rid the fed had to jump on that last year because they didn't know how far this was going to go and it added to the cocktail

with the fiscal stimulus and the tariffs created were real accesses and invents or which is real now and the capex bubble and they spent more than they normally would and we have to reset that back to trend or below and the third one is the one that will determine whether or not we go into recession which is labor so labor costs are higher. they're causing real problems for mid and small cap companies and that's why they're underperforming margins and there's a chance if things don't get better they will finally go to start firing people and that will determine whether we have a ve session or not. >> i thought it wasn't the corporations and the knock on tax reform is that it wasn't doing what it was supposed to do and you're saying it was a one-time event >> it was a one-time shock and last year they got the tax benefits and the repatriation

was a one-time shock. >> there's more to replate yat it creates comparisons so to get back to trend you will have the argument around inflation have led to 3% benefit to gdp over last three warters tal about 3% gdp benefits from just those two area again, over two quarters, three quarters or five quarters. i don't think you can blame us all. >> does it make this so that you have a sugar high -- >> i hate that sugar high! are you sure this is a sugar high >> no, he started it >> forward growth and then got

to a place where you layered in trade tariff ands whether there is an impact of that or not there is a leading indicator type of confidence which unquestionably is impacted whether it happens or not. so you have a double barreled dynamic which at some point i know they don't die of old age and we've certainly been waiting for this moment. >> that's what the recession is is correcting excesses in the economy. we haven't had real excesses in the economy until last year. once again, we don't know if it's going to tip, but it's closer than i think people recognize. oh, by the way, the market has recognized it all year >> thank you, mark wilson of morgan >> ready for presidented bien? >> if there is a recession in 2019 the whole narrative of i re-election for donald trump -- >> a lot hinges on the economy

his re-election hinges and he's keenly aware, president trump. with that said i have a view that market sell-offs cause recessions and much different conversation for another show. in terms of what mike said, i'm a big fab n of mark's show and we were talking yesterday, while you were watching "jeopardy quote "jeopardy" we were watching this show we had the low on december demeanor 24th and that gives you an opportunity to trade for the stock that's gotten beaten up. the fundamentals haven't changed and it was facebook yesterday. >> wilson's buddy. you had one lucky area in 2018 and now you're, you know, okay, we'll see, wilson. >> will you come on "skwauquawk" or is that too early. >> we have to take this guy wo says it's your fight. >> we can say --

>> whatever wapner, and constantly pick guests and i'm going to poke all your guests. >> what are you doing later this week can you get up at 6:00 >> no. >> that was a slap, wasn't it? >> that warrasn't a -- >> coming up, big tech getting wrecked in the past month. >> man, that hurt, but today's bounce could be a sign the bottom is near the top technician will be here to exmra inand speaking of tech, sales force, and ceo mark bennyhoff is speaking on the conference call. uber as 20 analysts initiate coverage without a single sell rating and what can go wrong we think how high the stock can mind much more "fast money" after this

good! so good to see you. 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. oh, wow. you two are going to have such a great trip. thanks to you, we will. this is why voya helps reach today's goals... ...all while helping you to and through retirement. can you help with these? we're more of the plan, invest and protect kind of help... voya. helping you to and through retirement. people know aflac. aflac! but not when to use it. do i use aflac when the kids get slime in the plumbing? no. that's home owner's insurance.

slime in my motorcycle. no. that's motorcycle insurance. slime everywhere? ughhh nooo, there's no insurance for that. do they help when i have bills health insurance doesn't cover? yeah! that's it! aflac! gross guys. get help with expenses health insurance doesn't cover. get to know us at aflac.com

but we all know we're paying too much for it. enter xfinity mobile. america's best lte, with the most wifi hotspots combined for the first time. when you're near an xfinity hotspot you're connected to wifi, saving on data. when you're not, you pay for data one gig at a time. use a little, pay a little. use a lot, just switch to unlimited. it's a new kind of network. call, visit or go to xfinitymobile.com. welcome back to "fast money. the ride sharing stock today without a single sell rating as a quiet period for underwriters of the ipo expired and meanwhile lyft has just one sell rate, but

the average analyst price target is 50 cents below its $72 ipo price while uber's average price target is $53.70, about 20% above its ipo price of $45 so which of these is the better trail? all i hear is they're totally different because uber has so many of the other businesses some people say these could be tough to run, too. >> depends on who you talk to. all of those buy ratings and i was reading deutsche bank who said this is the most interesting idea of the ipo since facebook and poses as much upside despite a number of facebook's shift to mobile they say that uber's shift to profit expansion is easier than the prospect that facebook faced and anyway, these are guys saying there will be some alleviation in the headwind that comes from the competitive, and the rationalization in the competitive dynamic that they find their way to profitability.

right now yoebi don't see that, that's what the market has to see because structurally it's very difficult to get behind this story right you in. >> i'm with you. i don't see the path to profitability and it seems to me there aren't barriers to entry, but at these valuations with very little -- with very little mode around their business, to me, you know, you might be bullish and these 20 out of 29 banks might be bullish >> you like bitcoin. >> all right >> that makes sense. >> i agree with him on the business model and i find it hard to really,to me that's amazing is 19 analysts all come out and they all had the very same idea within a couple of dollars of each other and they all see the situation exactly the same way how can that be? what else is going on and the underwriter group is, you know, however many big >> who is left to get bullish?

>> they can have a future business with uber, right? so that's the part just ridiculous getting even with the business model. how can you feel like, all right. i'm getting good advice from wall street when all of you are saying exactly the same thing. >> we saw the first report the first earnings report and nothing was different there so between the underwriting, the first report and now what has changed about uber that causes these guys -- were they buys all of the way from the ipo? i guess. >> if they thought it was a that and the 19 who took the underwriting they've got to like it here. >> you would think >> would you -- i don't know what bitcoin and uber have to do that was a bit of a non sequitur >> you like bitcoin, how about that >> it's completely different >> just for the fact --? it was making sense. >> bitcoin is the most successful start-up that we've

had in the last ten years. it has no ceo, no company to raise money. >> last time it was at 3500 and you were so humble >> i actually think i said to buy it, but whatever >> guy, were you saying something? >> thanks. >> you know we play a game called "would you rather." in this case, it would be lyft or uber and i say uber and i say it for this reason i understand lyft recently made $50 and the reason it was on the back of the uber note and everything you need to know about lyft and everything you need to know about uber. >> it's traded relatively well in this environment. >> why was the market up today, joe? >> it looked like a lot of short covering to me. >> and maybe it was oversold and my argument on uber still remains and leave the fundamentals aside and who needed to buy the stock with the ipo? >> seriously, everybody needed to sell the stock and everyone who wanted to own uber in the

last -- >> and uber was out there for everybody. >> we've got to go for more on what wall street is saying about uber go to cnbc.com and here's what else is coming up on fast stop talking >> bottom's up >> big tech feeling the heat and it's the worst performing sector in the past month, but one top technician says the bottom might be in for the market behemoths he'll be here to explain why plus -- >> and speaking of heat, this hot stock has doubled the performance of the market so far this year, and wall street thinks it's about to get even hotter we'vgoe t those details when "fast money" returns get it.

get it. get it! get it! crowd chanting: get it! get it! get it! (crowd groaning)

(crowd cheering) narrator: give your town a reason to celebrate because every goodwill item you bring home, brings job training and more to your community. goodwill. bring good home.

welcome back to "fast money. fang bouncing back after getting hit with the antitrust scrutiny, but those stocks are still down in the last month with tech being the worst performing sector during that time. dom chu has the details from the newsroom. >> oversold bounce, relief rally, whatever you want to call it, joe, some of the more beaten up names with retail and communication services did catch a bit today tied to regulatory antitrust scrutiny the epicenter of all of that was the fang trade, facebook, amazon, netflix and google parent company alphabet and we'll throw apple in the mix, as well, and the relative outperformer was netflix and yes the streaming giant down in yesterday's session, but want

nearly as fun as its fapg colleagues and they're looking at it as a way to stay in the markets and the shares are still down over the last 12 month, but not by much and it's currently one of the only fang stocks that hasn't been placed in the headlines for reported antitrust scrutiny shares did manage to bounce off of the 200-day moving average yesterday or longer term trend line and the consensus in the broader analyst community that covers these type of stocks is there isn't a huge likelihood of any big tech break ups of these companies and the risks are there, but for now netflix has dodged that particular spotlight and it might be worthy for these traders. >> dom, thank you. let's trade it we were talking about how netflix dodged it too earlier today, but i don't think of netflix in any way, shape or form like an amazon or facebook.

>> their biggest problem is that there's too much competition i think people will make it difficult on them. >> there's a reason why google is just omni powerful and i don't see netflix like that. >> i don't get it as a hedge like hide out in netflix and valuations. >> no. less of a note there >> except for technicals of a fang trade >> i don't know. >> what are the odds if we have a weakening economy that people are going to cancel the netflix subscription it's probably one of the last things you do. so there's probably some certainty in the earnings stream or revenue stream on this and it's probably why it traded fairly well in the sell-off. so of the fang, i agree with you. i think you take it out of the fang for the antitrust issues and you just look at the pure stock and take the symbol away and it actually trades really well in this environment don't you think we have a lighter touch in this country than in europe >> of course, we do. >> of course, we do.

name the last big start-up in europe did y >> can you come up with someone? >> look for the european industries to rebound on a relative basis and what tech plays are heavily weighted in their industries and maybe sap >> there's really nothing when you're buying the dax that gives you the tech exposure and back to netflix, recession may equal more netflix and chill, but i think what we've seen in the market, and i don't want to get into it, joe, and that's for another show what i will say is you've seen high-multiple stocks do very poorly in this environment and as much as we think that the netflix has been a defensive stock during a very difficult last 12 months and it's underperformed the s&p and for all those people i realize its had a big day and there's no question and i've been wrong on a lot of this and it's had a great run and it's not been for a long time. >> our next guest says that the bottom is in now and let's go

off the charts with rob slimer of fund strat. john >> let's talk about the trading side of this first and let's nuance it and what it means for the rest of the market and the rest of the sector moving out to the balance of q2 and q3 this almost seems too cliche and we're coming off the 2 hyundai for the s&p 500 technology sector and it's a reasonable place for the market to bounce right off the march lows and it's the last major low on the last rally that we saw in the first quarter and of course, we look at these momentum indicators and they're very classic, cliche trading indicators and deeply oversold so the setup coming into today and coming into the end of last week was for an oversold rebound and we see that across a lot of different risk assets and e merging markets beginning to firm and we saw semiconductors beginning to firm and big cap tech got crushed in the end of last week and it's a bottoming process that will carry out over the next couple of weeks let's like at a couple of names

and we'll end up with a longer term view which is important and the first is microsoft a huge leader and starting to pull back. it's not surprising after this huge run that you're getting some sort of pullback and consolidation and we were talking about a pullback, 3% to 5% for the market to dweevelop d it's been deeper than that and that's a choppy second quarter and it will not surprise us to see microsoft work in a sideways trading range and it's still a leadership name and we still want to own it so it might not be the most timely buy and there's not a lot of evidence that this is a braeakdown. some of the fang stocks are sloppy in terms of the profiles and it's back around its 200 day into all of that support in the 1600 and 1800 trading range and the relative strength to be quite honest about it is pretty sloppy so probably a less aggressive name to be looking at here and we continue to see this name

move sideways and the most important in terms of putting it all into perspective and i'm going to clear these guys off is looking at applied materials and it's a perfect proxy for cyclicality in the market. we like the semiconductors and that's the big low in 2015 into '16 and we think that's what you're carving out here in the 200-week moving average. the key thing is it pulled out to the 200 day or 200-week moving average the semis have been beginning to outperform and we think that's a sign the general market will start a valley and a purally and we're still bullish on the market and the key being don't get too bearish and there's still more upside in the back half of 2019 >> how do you think rob did? do we invite him over? >> rob, come on over here! come on over here!

that was -- that was fantastic all right. who wants to start and what do you want to trade? >> of course, you can. >> amat was a $60 stock before president trump talked about the tariffs last march and it got cut in half. i understand what rob's talking about and valuation 10 1/2 times forward earnings is compelling that stock's gone from 30 to basically 45 so i think that was the bounce i would be concerned about this one saying the move already happened and maybe we're rolling over and we'll test the low once again. >> talking about microsoft, is another one of these names and we brought up this yesterday and i would argue this is the most important stock and i'll footnote dan nathan who pointed this out and relative to the antitrust and the doj crew, someone who has been through this, but a stock that's been trading like it had no peers and no margin pressures and the crowd wasn't getting crowded is microsoft. that was the name that traded back through 50 and it's traded back up to it and that fails

there, i think you watch it. >> you know what we invited him over so i'm going to ask you a question. you mentioned the fact that the back haff of the year we'll get recession and completely at odds with what you're saying here is there a chance that the market trades in this really wide range that's my expectation. look, we came into the end of the first quarter and the beginning of the second quarter and everything ripped off the bottom and everything became overbought from a tactical intermediate term standpoint and the weekly moment up indicator started to peak and they're now starting to unwind and they're not deeply oversold yet and we're getting into the zone and similar to what we saw in 2016 and i'm sure there's lots of debate and the setup is very similar and very careful arguing that we have an entirely new down leg and certainly possible and i understand the bearish views out there and i think we put a major cycle low in the fourth quarter, and we ripped

and we're pulling back and unwinding that bullish business and you are seeing the emerging market currency and the dollar is starting to roll over and the industrials have been decimated. you saw honeywell, dover, itws starting to hold and those look like cycle lows and i'll take the other side of the argument. >> it's unusual to see two 10% corrections in a nine-month period and suppose lead it hasn't happened in five yea40 yd this probably isn't likely to be and then you have things like the ftc and the doj and mexico and you wonder whether do you throw out the technicals >> tons of headwinds for sure and you can see that reflected in the technical, but if you go back to the secular bull markets of the '50s and '60s and the '90s that's still what we're using and it worked too well in 2016 we think it's been front and

loaded into the end of 18 and as brian mentioned we will chop around a little while, but i think be very careful getting too bullish and we think the cycle is longer for higher if you have monopoly powers, don't you feel some type of getting squeezed in everything i get is free. my google map is free and where is the monopoly power unless you're talking about competitors not customers, right i think we have a light touch and i know you guys don't talk fundamentals, but do you think we'll kill the goose that lay the golden egg huh? i know how populist this administration is, but do you really think we're going there to break these companies up? >> i hope not. some of them might trade higher. facebook could trade higher. >> these are great american companies and is the flag behind me it's right over there. check it out it's not the eu. speaking up, thank you great

persons that we have here on the set. >> sales force jumping off its earnings report and the ceo just spoke to cnbc's jim cramer and we'll bring you those xhebs and general motors surging 6% for te of its best days of the year ashe auto goes into overdrive and more on that move as "fast money" returns

i'm off to college. i'm worried about my parents' retirement. don't worry. voya helps them to and through retirement... dealing with today's expenses ...while helping plan, invest and protect for the future. so they'll be okay? i think they'll be fine. voya. helping you to and through retirement. you should be mad they gave this guy a promotion. you should be mad at forced camaraderie. and you should be mad at tech that makes things worse. but you're not mad, because you have e*trade, who's tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. don't get mad. get e*trade's simplified technical analysis.

>> welcome back to "fast money," gm and ford bouncing back on hopes that the deal will be reached with mexico and the tariffs that president trump mentioned and one trader just lead out a $1.5 million bet. gm is about to floor it. let's send it out to mike ko in san francisco. they say it's koko, but i like t-bone >> t-bone! >> how are you, joe? it was interesting we saw twice as many bullish trades in gm today as bearish ones on more than two times the average call volume and the trade i was referring to where they laid out $1.5 million in premiums was 10,000 calls for $1.45 each and the buyer would be long, if it rises by the september

expiration presumably this is someone betting that the stock will be up at least 6% which is the break even for this trade and reasonably we can say they're betting on more upside than that >> all right, mike y thank you. appreciate it. >> gm, for all of the talk about peak autos and where we were for three years leading into it. this company's never been better balance sheet wise and it's politically unpopular for what they had to do in terms of the operations and they've taken difficult decisions and mary barra is doing a fantastic job and as an investor the valuation is compelling through times and it's a cyclical stock and one you own here >> may i ask joe a question? i know typically it goes the other way, but these are simple questions and i do this with melissa. would you say from 2010 to

current day the stock market has done particularly well you'd say yes, right >> i go back to 1999. >> i didn't ask you that question, joe. just worry the question. yes, it has. >> if you go back to 1999. >> guy's about to beat up gm >> it's supposed to go to karen and you stepped all over her >> i apologize >> this is the golden year and the last decade and we'd all agree on that. do you know at this time in 2010 ge was a $36 stock gm you know where it is today $36. explain that one to me, ke kemosabe >> the generals! no, my point is that, sure, the market since the lows of 2008 and 2009 has doubled, but you go back to '99, we're at 4% a year.

>> i should have let it go >> karen, i'm sorry. >> maybe i'm sorry >> take it up with him >> he's had too many gummy bears. for more options action check out the full show friday at 5:30 p.m. eastern check out the shares of sales force as we head to break. that stock up over 3% after hours. we will hear from ceo mike bennyoff next. t summer kicks off and we'll have the details when "fast money" returns ) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills.

education to take your trading to the next level. only with td ameritrade.

oh, wow. you two are going to have such a great trip. thanks to you, we will. this is why voya helps reach today's goals... ...all while helping you to and through retirement. can you help with these? we're more of the plan, invest and protect kind of help...

voya. helping you to and through retirement. welcome back to "fast money. check out the shares of salesforce after reporting earnings let's go to josh lipton in san francisco for more on this hi, josh >> hi, joe i talked to red bush's steve koenig just briefly who covers the company. he stood out and not just the solid q1 results and deferred revenue came in stronger than expected and he also noted benioff on the call here saying no enterprise company of this size is growing at this rate

sales force continues to again shares in service, marketing and commerce and benioff sat down with jim cramer and we talked about the regulatory environment we are in. >> we are following behind what the european union is doing, jim. the european union are the ones who are the leaders in this area, but with their european action against these companies when they misuse data and misuse privacy or take advantage of customers and there are things that happen in our industry that are embarrassing to me and let's clean it up and let's get back where, you know, facebook is not the new cigarette. >> for much more of that interview, guys check out "mad money" tonight at 6:00 p.m. eastern. >> we're almost there, josh. thanks let's trade this who wants to start >> i will say this who else is growing like this,

25% billings growth and he's not growing on that and we've been stuck here and it sounds like the same old refrain from what we've heard of these numbers great performance, but when your stock is trading with the multiple north of a hundred people need to see and be fed more growth. that's the key to me, what sticks out is if you look at margins 18.2% which is a great number the street was 17.5, i think the second quarter guide was disappointing, but the full-year guide was pretty good. to tim's point, to think the market bottomed can go sideways for a while, but if we roll over again the first thing people will look at is the valuation, and i think it will have that further sell-off that we've seen i'm inclined to sell the stock was up $5 during the day and another four now and my inclination is to take profits in the name. that's it? >> yeah. i think you take profits in it i agree with tim liss erngs the grow listen, the growth in this i'm a seller. >> check out this mystery chart.

i know what it is. >> i do. the stock has more than doubled. >> wow the performance of the s&p this year wall street says it can heat up this summer. the name when "fast money" returns. most of us don't know how much data we use.

but we all know we're paying too much for it. enter xfinity mobile. america's best lte, with the most wifi hotspots combined for the first time. when you're near an xfinity hotspot you're connected to wifi, saving on data. when you're not, you pay for data one gig at a time. use a little, pay a little. use a lot, just switch to unlimited. it's a new kind of network. call, visit or go to xfinitymobile.com.

double growth in the last five years a long run. >> when you're a band or a performer you don't get digital nickels. you still get analog dollar, don't you? >> that's where they're making most of their money. >> and it's global. >> thank to ts to the 19-year-od knows the jonas brothers. >> as well as milan. >> i do, it's an extraordinary investment for a long time michael, i'm glad to have you here >> no, thank you >> this business has been just tremendous are you getting more venues under your control or is it per spend, per visitor and trying to

get that up every year, but where is it going to come from >> we think it's a bit of both we have scale. 98 million people went to a live nation show last year and we talked about growing that per head about a couple dollars a year and we are about $20 a head and we think we have a lot of runway there and the masters is $400 per head and we have a lot of runway to do a better job and monetize our fan and to monetize globally we are 30% market share and it's still fragmented on a global basis and you will see us continue to expand on acquisitions to grow >> how have you guys become such a strong partner for the bands in other words, as we talk about the secular thing in the rock 'n' roll industry, it's been selling digital or otherwise and it's about touring and it's about merchandise. explain that partnership that works so well. >> for years it was all about the record deal. for 50 years you got a record and a seven-year contract and

that was your life and you kind of went on the road to sell your record about ten years ago through napster and everything else it was upside down and you went on the road to make a living and the artist is still vastly important and you still want to have a song on the play list on spotify, but you will build your audience to pay the bills and we just for 15 years have stayed focused on an experienced economy and consumers want to see the experience and artists have to go on the road and you have a fragmented global economy or industry and we kind of got ahead of it early and started to pedal down on consolidated >> i was going to ask you, who would it be right now for a band and not a -- imagine dragons or -- >> 21 pilots >> i'll see 21 pilots tonight in brooklyn and we talked jonas brothers alone and their pre-sales are on fire. >> and bts, that is a great example of kpop.

we're selling out stadiums around the world and two stadiums here and had a billion people hit our websites the day they went on sale trying to get tickets. >> michael, great to have you on >> i like good-bye and -- anyofo, we already said this thk u r coming on set. >> thank you >> up next some final trades we'll be right back.

it's time for the final trade. let's go around the horn tim? >> general motors made the point and in 2010 they were global motor, but the bottom line is this say company that's made their u.s. north american and the pickup and suv segment very profitable and six times earnings i think you can feel comfortable in this name. >> b.k.? >> the fed talked about inflation and increasing inflation and you want to buy things with a limited supply so if you're a millennial you buy digital gold or bitcoin, if you're a baby boomer. >> karen >> i'm a long investor so a day like today has been good last month, terrible if we see another rally like today the s&p owns that

volatility so you can stay long stocks. >> adami >> you and i will go to the jonas brothers show this summer. >> all right >> you've got to love the jonas brothers. >> exxonmobil traded down to the december low >> tomorrow night i'll be back "mad money" is coming up with jim kramer and marc benioff. there is always a bull market somewhere. i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome into "mad money. welcome to cramerica trying to make you money my job is not just to education but to teach put it in context. call me at 800-743-cnbc or tweet me at jim cramer today was a text book example of why yo