but sort. >> apple putting pressure on rivals >> i don't think so. it was a matter of mostly just the software stock that did well, winner sold laggards bought but two days in a row with a the flat s&p. >> anti-trust scrutiny as well zwloo doesn't help. >> thanks for watching >> "fast money" begins right now. >> live from the nasdaq market site overlook new york city times square "fast money. oom melissa le pete narjen. team seymour, guy adami on the big show tonight trying to work it out we work attempt to plou ahead with the ipo ziet a call to shelf the offering bold on gold with a blinding $2,000 an ounce target our rgt traders debate that. a chip on that and starbucks feeling the heat was it apple day something going on in cupertino, california josh lipton gets us up to speed

with all the releases. >> melissa, apple's biggest day of the year is over. what did investors learning learn today? you saw the ceo take the stage and introduce three new smartphones, the no lower priced iphone 11, faster processer, 6.1 inch displays. better battery life. interesting to note, the price $699 about $50 cheaper than its predecessor the 10 r which remember is apple's best seller then the high end, the 11 pro, $999 with a 5.8 inches splay and the 11 pro max at $1099 with the a 6.5 inch splay shipping on september 20th mieper says overweight the name he tells his clients listen as long as new iphone hardware and services perform well he thinks that does tie investors over until 5g hits hits

it wasn't just iphones it was a focus on wearables. we saw the new watch starting at $399 and $499, 46789 g network connectivity new features like the always on display. you'll be ableto see time and notifications when you haven't raised your wrist. landing in stores on september 20th finally more details on the new services apple tv plus rolling out november 1st it's costing $49.99 a month for a family account that did surprise some which early reports said they were weighing $10 a month apple arcade, the game subscription launchings september 19ing. my knowledge packeter of we had bush saying they are attacking the game market. >> josh lipton in cupertino. that raises questions here subpoena apple's aggressive tv pricing enough to accelerate growth in services which has

been key to the bullish apple story? are the new devices enough to keep investors around until the 5g upgrade next year what do you think. >> i think so. focuses have been the last couple years now it's 21% of the revenue for the past quarter, a record setting quarter for third quarter which was allisoning i look at this and he mentioned wearables and almost sped past that that's the focus new i think services are back years ago. now i think you look at wearables. the growth rate there and you look at the margins and you talk about a 4 g watch that has connectivity the way it does there is so much to in story and the health aspect of what everything they are doing. this is a bigger story than anybody understands. sooner or later one of the days we hear everybody talking about wearable oop wearables is the spot that's going to push a.m. higher. >> the wearables could be snore services extreme we haven't

seen. >> i think you're right on that. wearable is all about services all about thes ancillary use of the phone. the price dynamic- hear $50 cheaper is very important. i think it's very important for iphone shichlts where the expectations are so low in terms of any growth. and so the year over year comps are not difficult and not supposed to get better but it was -- i think this is a bit of a surprise. if anything you could start to see expectations for iphone shichlts to at least be kicked up higher into the holidays. i think $50 makes a difference for a lot of people buying the phone. i know that sounds crazy but rather than them raising they have a phone now that's actually affordable relative to the talent and some of the peers. >> let's play this out then. okay they cut the price on the phone. they were able to boost units which we dent get the number of upts anyway. revenues go up or stay about the same because the price is lower. >> um-hum. >> and how does wall street react when the asp of are lower.

>> i think okay because the phone is place holder, right until we see bigger dsh zblosh they get a pass. >> they do when you were talking about the price i thought you were talking about the tv business. that's the price i found most interesting positive that price, it really furthers the revolution of this being a services business and getting the multiple i think they will get -- i was pret were kind of po oh p pcht oo when they announced in two three months ago. what was it going to be? i feel more optimistic about what that revenue stream could be now. >> because of the pricing. >> because of the pricing. remember when disney did that, right. >> yeah. >> and now -- and interesting to see how netflix responded. >> netflix, disney, roku all of them getting slammed on the back of in aggressive pricing. >> we can argue that maybe roku isn't over but we'll talk to that later but in terms of apple one of the things we said is stock traded well when compared to facebook which hasn't traded that well

now the last four weeks or so. compared i guess to a certain extent amazon a as well. apple hung in there well you have to ask what's the level you need to look at? again i'll say august 2018 high on or about $229 you're within -- less than that now% of getting to those levels. it makes a run as we go into the earnings release apple traded well. to pete and tim's point. health care is a new vertical if they can integrate and get in a less than meaningful way it's a tremendous opportunity for them. i think 229 is the low we got to look at feels like it gets there in the foreseeable future. >> based on today, show of hands, more bullish on apple than 24 hours ago yeses the same. >> is the same okay. >> easily more bullish. >> i think the fact that. >> three or more bull zbleesh the watch going to be something that i think is going to be much more -- we talk about accelerated and the acceleration is really coming out of wearables. when you look at the new watch

that's a game changer. over time we are starting to see now -- the phone is already less than 50% everybody with was saying how are they surviving the phone is everything. >> it's not. that's falling even with the pricing. i think the number in terms of revenue continuing to be lower and a little bit lower where you see the wearables, 499 for the watch? really that's unbelievable they can get that because they will, mel, i think the margins are getting those. >> mine's all jewelry. my phone tells me the time but i do love the watch. and the health aspect of what this wind chill does noun apartment 499 is a game changer. it's absolutely something where it's connectivity to all kinds of different areas if there is a problem in alive or wafer, and monitoring your health to a whole new draeg. >> at what point is apple fully valued after in run most recently >> because the when will story to me is about a multiple

rerate i don't think we know the multiple again i talked about the blended multiple oop i didn't invent this every analyst is giving a hardware multiple of which you are 11 to 12 and services where 25 to 30 call it 25 also for a company with all the levers on the capital market side giving cash back buying back stock doing things with the balance sheet backup and execute in a lower rate environment. that's epa akreetive when you buy back a dan. >> you're the only one staying the same which are you debbie downer >> more bullish today than yesterday. >> no, no, no. why are you not -- why is the story not changed at all. >> you picked on him he looks sad now. >> i can be more bullish we have said it over the last couple of weeks the stock traded well so maybe i'm not -- i'm not bullish enough i guess is that the reigns but in terms of rerating if you want to play the math game we can do that.

they make close to $3 a share. call it 12.80 or so. you slap the 22 multiple on it they've never gotten that. moving towards that. $$280 stocks which isn't unrealist. >> for more on the big event retires bring fl gene munster. i will ask the same question i asked the desk are you more bullish and apple today versus 24 hours ago. >> melissa equally as bullish as i was 24 hours ago but remarkably more than other investors. this should be a 350s a a starting pfg a p and g multiple, 24 multiple. >> that's bullish. >> it's unchanged from my optimism yesterday as far as what we saw today, quickly, melissa, we focus on the features they are honed in on the camera and the battery. those are the two bigger hot buttons for phone consumers. so they really delivered on that

piece. but i think what's more important what gets lost and i think the details is this concept a that what's most important is the ability to grow the user base. and i want to give credit to doris hetyu really pioneered the thinking but i agree with it. essentially you're advancing the quality of the phones this they come out with today find themselves in other people's hands down the road in the secondary market it's not a flam rouse topic. but it's critical to the value proposition and why the stock can do go higher the base is groiing 10% a year even though the iphones were down 15% in the back year. there is something bigger going around around the quality of the products they are the greatest consumer tech products. longer lives than the first user, creating a fabric of tech around consumers that i think is drumtically undervalued by investors. >> gene, it's karen, i understand what you say about the base getting bigger help us

understand the multiple issue we are talking about. when you think two oh or three years down thes line what do you think the mix of the businesses will be between hardware and more recurring revenue >> so, i think it's still drumtically hardware today we're at call it 82% hardware i think in a few years we're probably around 70, 75%. but the concept of hardware as a service, i know it seems abstract but the idea that people end up every year or three or four years buying hardware on a recurring basis, i believe -- appreciate tim's view about the sum of the parts but i think the story is more about just a annual spend. and i think that it's not about the service revenue or the hardware revenue if you are interested, apple's peruser annual spend is $300 oh. that's 3 x higher than facebook. lower gleblly for facebook niece are some impressive khmer

base, the billion users they have and they are indifferent whether it's hardware or services. >> zbeen, i got a quick question for you. i mean we talk about ai all the time in a different categories what do you think right now in trms of apple? obviously an executive from google in the krkt now at apple what's the prognosis in terms of time frame when are we seeing more of that coming out >> they tried to weave into days like today some of what they do apprehend machine learning and ai around photos but that's not the substance of it. the biggest area is around the car. i'm hesitant to say what the approach is going to be around mobility, transportation but that's probably -- tim cook referred to this as the mother of all ai projects that's a little distant to put some framework around. when you think about ai at the level it's products.

seven driechgt car or inbox of the email np have to have some element of ai wove inside it's good a.m. has some of the best in the world working on it. >> when you say apple inspect in the 300s how do you get there with just a primary hardware multiple >> it takes for the street -- this takes years to get people's opinion to change about this but what you will slowly see is the bigger focus on the user base and separately about the overall revenue growing. if they can show despite the ebbs and flows and/or the global economy. they can showive revenue inchesing higher that deserves multiple proctor and gamble are and coca-cola are not high growth companies but they get multiples and apple deserves such. >> thank you for joining us gene. >> thank you. >> let's talk about the declines that we saw across the board in the media stocks based on apple

tv, 4.99 a blont. >> i don't think tv plus is going to be material for apple for a few years. >> even at the pricing >> in terms of the content, et cetera, but the message has been very clear and i think netflix is running it out there is tremendous competition in the space we flew there was going to be over the top bundles across the entire space now i think consumers are in a position to clues. i think apple is in the game but this is not why i like apple. >> i think roku down 10% is overreaction but i can understand why people are selling first asking questions later. given the run of roku the last six weeks. if i look across the landscape i think the opportunity is in roku gene at 350 process. okay i'll play the game but to get interest with the 24 multiple you're talking about $14.5 in earnings which makes them high on the stret i commend him for having that

conviction but it right now i think that's a little excessive i could see 280, 350 is a reach. >> we wosh's biggest investor to urging the company to shelf the ipo karp has a chart showing the rockier road ahead one tax writer says investors need to brace for the pull back. he says what has him worried much more "fast money" right after this do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

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welcome back to "fast money. we were trying to work out some of the troubles before kicking off the ipo road show. possibly as early as next week the valuation was slashed after weak demand now the biggest investor softbank is calming for wework to shechl the offering. nonetheless sources telling our david faber full steam ahead what does the debt tell you, kirn at this time. >> there are interesting things going on debt is interesting. this is a bond chart 7 appear 7/8 paper if you see the spike up near the right side that's when they announced going public and then now look at what's happened alm of the benefit that these bonds thought they would get by equity and equity infusion of an

ipo is completely gone the yield on the paper now 6-year paper 8.4%. >> 8.4 >> okay, i understand the company wants to say full steam ahead. it's up to the investors now, right? this can't be, you know, giving them warm and fuzzy feeling at wework headquarters that, you know, the ipo will proceed -- i don't know maybe there is a pris they say okay fine we'll do it i don't know we'll see. i mean if i were a bond investors hoping to be bailed out i'd be nevds now. >> if you were thinking about buying the equity on the ipo would this make you think twice? >> no, because i think they'll have to price the equity lower. >> okay. all right. >> it's interesting it's chain stocks nasdaq is down 4.5% today. sort of like roku i think it's overreaction to a situation but i can understand what's going on here i think it's a question of selling first, asking questions later. pifrpg it's a mistake. i think nasdaq probably reports month, month and a half, i don't

think the numbers are outstanding. it's not just because of the landlord we've been talking about, the selloff nasdaq if it was on the back of this was overdone. >> karen talking about the debt, the other side is in a market where there's been a risk of recession it's basically fixed versus floating. they're bore p.o. og and went renting at floating rate to make it very simple it means they have a lot of risk to the pitkat and it gets to place where they raise money at $47 billion earlier this year. this is staggering what the market is saying about the business model and about the economy right now in >> you were talk about slack the other day. >> yeah. >> how can slack exist with microsoft around, slack, uber. >> terrible. >> this one they're. >> when you hemorrhage money at this level and try to go public and everybody wants to focus on growth, growths. i heard that on the network talking about that you look at growth often times when you're losing that kind of money you have to have a path to make money what is the path when you look

at the companies and in slack's case they are up against microsoft. they are already losing that game and continue to lose. but when you talk about wework, mel, when softbank invests 2 billion at a price valuation of 47, $48 billion and now talking about somewhere in the 14 to 18 billion range that speaks volumes in erms it of i would listen to softbank if i'm sitting on the wework and say hey guys our investors are not happy right now we have to figure it out and maybe process push out the time frame. >> we worked about uber how they got unfortunate in timing and difficult mechanic this is worse. the appetite for money losing for the foreseeable future is way worse than when uber came public. >> for more on the wework ipo head over to cnbc.com. i'm membersa lee here is what else is coming up on the show. >> citi makes a bold gold call,

2 grand bold our trader debate. plus starbucks and chip on that feemg the heatft aer probesly regulators don't go anywhere. "fast money" will be right back. ♪

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you need dell technologies, and it orchestration by cdw. . welcome back to "fast money. check out solid gold losing a bit of shine over the past week as the markets rally on hopes of a trade deal i'm glad you guys can't see what's going on on the desk because everyone is dancing. that hasn't stopped citi from coming out on oh bullish call. saying 2,000 is possible in th next year or two as escalating recession risks and geopolitical texts make the yellow metal an attractive alternative to

equities are you picking up citi's call on gold. >> i'm lost in the disc o. >> that's beyonce? >> you're right. >> something else by the way >> is that the way i like it that's the song. gold to 2000 i think if you bleach that the turn around in yields over the last two or three i days almost a 30 basis points move in the tooer in a function of the deflation trade running out of steam or we were overdone then i think gold to 2,000 is taking you some time but all the structural elements of what took gold to five-year highs after 1350 resistance are in place but umping we have had an overbought condition in gold and are still working that off i would not buy it at 2000. >> i think what's interesting about citi's call and some other calls we heard from the street that are bullish on gold any underline the sort of i don't want to say a secretary laroue shift in the way banks are

guying gold. they want to move away from u.s. dollar want to dedollarize reserves therefore looking for other assets which would be gold. >> gold. we talked about the central bank buying we talked about more months on the show pete's been talking about it gold and silver for a while. central banks are buying gold. the chinese are buying gold. the russians are buying gold you can look it up see for yourself tim says it's working off the overbought condition i'm i i agree 100% maybe there is -- maybe there is more sell off if the gold market based on bonds overbaugt but i think gold is going higher. >> our next guest says you may want to look for cover while the market faces pain. let's bring in our chief investment strategist from blackstone. >> good to be back. >> we have seen this retation shift out of the momentum trade -- that doesn't give you hypothat the market is settling in and yields have gone mier

too. >> it's a reflection of in renewed optimism on trade talks. last week the u.s. announced that it would be engaging china in october and you saw the curve resteepen. you saw equities catch the which had. credit spreads remain orderly. it's a new found hope that something is done. but i'm more pessimistic i don't think we are seeing a quick resolution to trade. in move back to, you know, a pitching wedge away from all-time highs in the market is really just much more of a head fake i think there is downside risk if you look at mcrecently in order to prepare for you know this trade war basically they've retaliated against the united states by taking up the tariffs. but they're lowering tariffs to the rest of the world. in other words they are prepared for a pro longed fied. i think hope of quick resolution is misplaced >> i'm skeptical on the gold as a deflation hedge when i heard it as inflation hedge for the 25 years prior.

it's an everything hedge explain the deflation hedge part. >> i think it's been an interesting move watching gold as this sort of like antidote to all the information yielding bonds around the world if you think about it, are you better off holding gold or ten and her year german bonds at negative yields. neither one necessarily pays but at least gold has a chance of going up. that's sort of the conventional wisdom driving gold. and my guess is that if the ecp does have to bring more rate cuts and some sort of significant qe package, then maybe rates in europe will dip back lower and i think that would pri a little bit more of pennsylvania lift to gold prices. if trade breaks down, which i expect to happen, perhaps you see another move up for gold i think people are looking at it as this antidote to all the negative yielding bonds. it does seem to make sense. >> inherent in the pessimistic view is the credit view.

has to be, right what's the time line and when we see the credit spreads widen because as you said, so far, so good. >> for me it comes back to yield curves yield curves are the best predictors of business and economic cycles it's not just the yield curve in the united states the 10s 2s inverted a couple weeks ago and resteepen pd in the homes of trailed but in august you saw seven parts of the world recalled with inverted curves. that was the most since 2006, 2007 all around the world it's telling you there are economic problems brewing from my perspective we could start the count down around the end of the expansion which means it's going to translate into some sort of credit event. when it happens. good question. from the time the 2s inconverts you have 20 months before recession. there's never been a rerecession 20 months later it's either shorter are longer it's the

beautiful law of averages. if you have to take over, under when it ends i would take the under at this point. i think trade tensions globally are causing a manufacturing recession. and i think that spells spills to the broader economy you have germany who is in recession. italy has been there the uk is there. japan is headed there. singapore is very trade exposed. head they had a massively negative gdp all this translates into a credit event at some point my guess is it is probably sooner than the market think. >> now do we finish the year it almost feels like we set up similarly to how we set up for the end of last year in that the back drop looks worse. the main thing changed is that we have a supportive fed we have a fed that's already said, you know what we're going to do what we need to do that's of course a big high pressure but at the same time we have tariffs in place and tariffs going higher we have the economic back drop

that hasn't compared to last year and we have the earnings season where companies are talking about the impact of tariffs. >> i think you are right earlier you were talking about apple. if you think about apple for a second, the iphone at least this iphone here i don't know about the new ones but this iphone travels about 500,000 miles before it ends occupy and the store shelf petition you think about the supply chain it would get up dwrat graded on united before i would it has more miles when you think about the unintended consequences of trade is it a corporate profit story because of higher input costs? or is it a consumer cpi stories bus companies pass those along neither is good. in terms of how we set up for the end of the year i think the highs we hit back in april that we're now testing i think are going to be the highs for the year markets are more volatile and trade down in the beginning of the year we came out with a price target of

2,900 or soz so in the s&p 500 we thought the market would be up 15% for the year. we hit it i think the risk are tos down zblood thank you, joe we have breaking news on pell a ton. let's get to dedra with the details. dedra. >> pell a ton moments ago filing an amended s 1 ahead of the expected ipo it will be offering $40 million shares at a range of $26 to $29 per share that should ray raise it between 1.04 to $$1.6 billion. we'll we're crunching the numbers still. but it was lass faled added 1.4 pilates in the private market and expected to kick-off the road show tomorrow. >> dedra be, thank you peloton to start the road show foam in this kind of environment, guy. >> i'll tell you people op both sides, a lot of people say

completely overvalued. telling $2,000 bikes and treadmills other people say it's a transformative device, bike and the treadmill, and the service side of things $50 a plont is the small price to pay i'd pshlg come down but if you think it's totally overvalued and top ticking the market in terms of another wework type of ipo. >> help me out jack ma stepping down today. we will tell wlau the next for the chinese e commerce giant. >> plus a double kill with starbucks and chip on that tanking toy.da much more "fast money" served up hot right after this ♪

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welcome back to "fast money. jack ma stepping down as abel about a executive chairman dedra boss an in san francisco to break town what could be next for the. >> true jack style he bid fare well with a ric rack rock balance add. he was in full get up at the 20ths anniversary party coinciding with his 5 ath birthday he said today wasn't about the

retire emmit of jack pennsylvania but the beginning of the legacy of succession. while ma will be involved with the company he hands over leadership of the $460 billion tech giant to bunch of well seasoned executives. here is dang xiong long groomed for the job. he has been ceo since 2015 now steps into the executive kmarm role as well he is credited with creating the single's day bonanza and alibaba off line puch. maggie woo a state your name on earnings kyle. joe sai she could largest harold after ma and the leader of the cloud strategy and others take being eing over and the e commerce market expecting to top $2 trillion this year. and alibaba makes big bets into brick and mortar, groceries, video content and expands beyond china to mixed success also they take over amid china's

economic slowed. a trade war and protests in honk con. back to you. >> now we are going to trade this dedra about before we get to that i have to ask you because i mean the last time jack ma maybe an annual shareholders meeting he did a michael jackson getup thing. this time around if we can show the picture is he actually singing or lip syncing who is he supposed to be. >> jack ma does not shy away from singing himself i'm told it was a chinese rock balladp ke didn't get clips and it was years ago he performed as michael jobs drove up in a motorcycle and this is the annual employee celebration, the anniversary of alibaba. and it's nottious jack that does pormdss but a lot of the employees get involved it's a very chinese celebration. >> dedra, thank you. dedra in san francisco all seriousness, though what

does it mean for alibaba. >> by the way, itching he was doing jovi's never say goodbye. >> if i was lefg my company -- you know we've known the event was taking place for a long time. if you look at the valuation of the company, alibaba has been having trouble getting the multiple kind of past this 30, compared to amazon, amazon who they continue to defeat at least in china through t maland direct to consumer. i think alibaba is a company looking for catalyst people are very concerned about how they are spending to maintain market share. right now nobody close and i leak the valuation. >> i look -- the forward is 20 when i hook at that. and you look at e commerce and cloud. that's one of the areas you will see growth the fact they own e commerce mcand moving into the rest of the world and you have the cloud growth and digital media you have enough there where this stock looks fairly cheap right now. because of that i love the fact that they have a succession plan

it's been in place we know that it's been out front of everybody. we were expecting this day and here it is it might add the catalyst you are talking about. maybe a new ceo getting in there and running this proposals them to the next level. >> i always thought am financial was interesting. who knows what we would see if that spun out. if the shorter term is trades with china and all that. intriguing not crazy expensive. >> coffee and k the carnita, starbucks and chipotle feeling the heat how to trade the moves and what's the best energy sector group one trader bets on a big breakdown for the group. we'll explain right after this >> direct access to policy makers and government leaders.

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i don't get that >> welcome back to "fast money" starbucks shares taping with the sec questioning the revenue recognition policies starbucks agreeing to additional disclosures. tim you're an owner should we be concerned. >> revenue recognition is not something -- i think people really even diechg into the big issues around starbucks. the concept of accounting shenanigans is no where in the price. the company gets a major premium for corporate governance perspective. when you had at a that to higher tax rates and interest expense and cutting 2020 guidance at least uncertainty when we just got the reout affirmation is can concerning taken together, it -- i hope

they don't go together is the point. >> i think it's that sort of drum beat of. >> yeah. >> we have guidance, taking down guidance and now this >> i think you're right because this on its own maybe it's just a timing question and gets resolved without it being material but it does together -- it makes you wonder and you traded a big multiple. >> huge multiple. >> you know for chipotle -- >> and then this is swept up in the rotation out of momentum names, president that have been working. >> i think that's -- you don't look at valuation until you have to look at it then something like this comes up saying wait a second start bucks is trading 30 times maybe in this environment we should again shoot first ask questions later. that's why it has further downside it's not an indictment totally but i think the valuation comes into the cross hairs now and that's a bit concerning. >> from could have rey to carnita, chipotle losing 35%

being sued for work week law ills violations. zpoit that they are up 81% this year will the burt o bash continue? >> you didn't say that. >> did you write that. >> no, no that's different is blowout bad or good. >> depends where you are >> really does zpend. >> what's the trade please. >> i think there is an outside like starbucks this is stretched. i love what they are doing i love the ceo he puts a great plan in place and the stock is reacting well. when you look at valuation at some point you have to say wow this is stretched. i think that point mab reached so i do think there is more downside to this i would not jump on the first drop to the downside i think there are more to come. >> i agree yesterday 62s right number today 58 times i don't know 58 siems high as well i agree maybe let it -- the momentum take it a bit further. >> we should note other names in

the fast food we are down, mcdonald's. >> that rotation is more than just coincidence we have talked about this op the show, more segments on food stocks which in and of itself is maybe a ray reason to be selling them because we got to a place where these were very defensive high multiple names, high free cash flow in a difficult market not a big surprise. >> we love a good taste test. >> we do it all the time here. i like the network -- i negligence all the time and you're on all day but you have your own show a designated show from 2:00 to 3:00. i get confused at at my age didn't you have you have the we had bush analyst. >> on yesterday. >> i told you 9807 price target. and he addressed many of the things we are talking about. it's not going to 98 tomorrow. you tend to fwrae you don't buy on the first swath down given the valuation but i think chipotle is a good story. >> what's the news having you

sell the stock. >> it's a valuation sfla isn't that the point because this isn't news taking the stock new york state suing these guys >> it seems electric a 3.5 move in mcdonald's lower. is equivalent to 6% on under chipotle. breaking the five-day win strategic. betting on the energy space. we break down the action look at the kramer cam jim is weighing in on the treasury move in gold. live at the nasdaq in times square, much more "fast money" still ahead. at fidelity, we believe your money should always be working harder. that's why, your cash automatically goes into a money market fund when you open a new account. and fidelity's rate is higher than e-trade's, td ameritrade's, even 10 times more than schwab's. plus only fidelity has zero account fees and zero minimums for retail brokerage and retirement accounts. just another reminder of the value you'll only find at fidelity.

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back here tomorrow at 5:00 meantime mad money with jim kramer "mad money" starts now hey, i'm kramer. welcome to "mad money", just trying to make you some money. my job, not just entertain, educate, teach tweet me at jim cramer nasdaq losing .04% and market is experiencing a coup d'etat.