of determined selling. we have only backed up 2% from highs. i wonder if the bond yields are now in the lower settled zone, not gichg a clear path to a -- a real kind of risk on trade. >> a few seconds to pelosi that should be interesting. >> that does it for "closing bell." >> "fast money" begins right now. and we start process this hour with breaking news. you have pennsylvania live look at capitol hill where house speaker nancy pelosis is expected to announce a formal impeachment inquire for a president trump at any moment pl we'll bring it to you live .the. the team of reporters standing buy ammon javers traveling with the president live outside the u.n. but kim off with kick-off with ylan muy. >> a moment of truth that is how the speaker has been describing her decision to democratic lawmaker and speaking right now. >> last tuesday we observed the anniversary of the adoption of the constitution on september

17th sadly on that day, the intelligence community inspector general formally notified the congress the administration was foreboding him from turning over a whistleblower complaint. on constitution day. this is a violation of law shortly there after press reports began to break of a phone call by the president of the united states calling upon a foreign power to intervene in his election this is a breach of his constitutional responsibilities. the facts are these. the intelligence community inspector general who was appointed by president trump determined that the complaint is both of urgent concern and credible and its disclosure he went on to say relates to one of the most significant and important of the director of national intelligence's responsibility to the american people. on thursday the inspector

general testified before the house intelligence committee stating that the acting director of national intelligence balked him from disclosing the whistleblower kpla complaint this is a violation of law the law is unequivocal the dni staff -- it says the dni director of national intelligence shall provide congress the full whistleblower complaint. for more than 25 years i've served on the intelligence committee as a member, as the ranking member as part of the gang of four even before i was in the leadership. i was there when we created the office of the director of national intelligence. that did not exist before 2004 i was there even earlier in the 90s when we wrote the whistleblower laws and continue to write them to improve them to ensure the security of our intelligence and the safety of our whistleblowers

i know what their purpose was. and we proceeded with balance and caution as we wrote wrote the laws i can say with authority that the trump administration's actions undermine both our national security and our intelligence and our protections of the whistleblowers, more than both this thursday, the acting dni will appear before the house intelligence mendota at that time he must turn over the whistleblower's full complaint to the committee he will have to choose whether to break the law or honor his responsibility to constitution on the final day of the constitutional convention in 1787, when our constitution was adopted americans gathered on the steps of independence hall to await the news of a government our crafters founded. any asked benjamin franklin what do we have a republic or maurny.

>> franklin apply a republic is if you can keep it our responsibility is to keep it our republic endures because of the case wisdom of our constitution enshrined in three co-equal branches of government serving as checks and balances on each other. the actions taken by the president to date have seriously violated the constitution especially when the president says article ii says i can do whatever i want. for the past several months we have been investigating in our committees and litigating in the courts so the house can gather all of the relevant facts and consider whether to exercise its full article i powers, including a constitutional power of the utmost gravity of approval of articles of impeachment. process and this week the president has admitted to asking the president of ukraine to take actions which would benefit him politically. the action of the -- the actions

of the trump presidency revealed dishonorable packet of the president's betrayal of his oath of office, betrayal of our national security and betrayal of the integrity of our elections. therefore, today, i'm announcing the house of representatives moving forward with an official impeachment inquiry. i'm directing our six committees to proceed with their investigations under that umbrella of impeachment choiry the president must be held accountable. no one is above the law. getting back to our founders, in the darkest days of the american revolution thomas payne wrote, the times have found us. the times found them to fight for and establish our democracy. the times have found us today, not to place ourselves in the same category of greatness of our founders but to place us in the urgency and protecting and defending our constitution from all enemies foreign and domestic and the words of ben franklin,pc

i thank our chairman chairman nadler, chairman schiff, chairmanned in nadler of judiciary. chairman schiff of intelligence. kmarm engle of foreign affairs chairman cummings of oversight and chairman cummings i've been in touch with constantly he is a master of so much but including inspectors general and whistleblowers congresswoman richie neil of the ways and means committee congresswoman max evine waters foreign financial services committee. and i commend all our members and colleagues and members for thoughtful approach to all of this, careful statements god bless them and god mess america. thank you all. >> you've been listening to house speaker nancy pelosi who has called for an official formal impeachment inquiry into

president trump she said that president trump's call with the president of ukraine was unconstitutional let's get to ylan mui in washington, d.c. with the gli examine implications of this all. >>ualen. >> i thought it was notable she framed it as an issue of national security. she called it a violation of law and breach of constitutional responsibilities this is a moment the speaker tried to avoid for a very long time she has said that impeachment could be divisive within the country, within her party and she would not act until the call was simply unavoidable and the evidence to her mind inevitable. so this is a sign now with 170 at least house democrats behind her, with all her committee chairman behind her now, supporting this move toward an impeachment choiry that shelves she can take the step with political support behind her and for this movement. but i think it is important to point out what she is not doing.

she is not calling for articles of impeachment she is calling for all six committees to do an investigation to determine whether articles of impeachment might be necessary if they should move forward with the teps process this is a preliminary stage but important acknowledgement by the speaker and democrat that they want to ratchet up the level of investigation. >> thank you ylan mui in our d.c. bureau. let's get to ammon javers traveling with the president of live outside the united nations where president trump spoke earlier todayen a also talked about releasing the full unredacted transcript of that call with the ukrainian president. ammon. >> melissa after we heard from the speaker of the house there now it's clear the battle lines have been drawn pch. the impeachment fight is about the content of the phone call the president had with the ukrainian president and also all of his conduct surrounding that. the relationship between the president and the ukrainians, did the president as nancy pelosi just said inappropriately and even illegally and

unconstitutionally request help in his political campaign from a foreign leader por as the president has been saying today, did he simply request that the ukrainians participate in the overall democratic process here? these are two very starkly different verkss of the same set of events. the president today tweeting out within the past two years that he is going to release the transcript of his conversation with the ukrainian president that's going to come tomorrow after we have just had this announcement from nancy pelosi presumably the president also knows what's in the transcript he has been saying throughout the day today that there is nothing inappropriate in that call by releases that the president is bowing to some political pressure because some members of the administration have been suggesting that he wasn't going to do it because it would set what they cull a bad precedent for other world leaders if they could suspect the conversations would be transcribed and released the public at some point in the future. they said they didn't want to to now the president says he will

do it. we will look at that tomorrow. unclear how much detail beyond that but more is sitcom tomorrow that's where the battle is going to be. >>iamen javers in the mean we have a tweet from president trump one minute aigt. he tweets such an important day at the united nations so much work and so much success and the democrats purposely had to ruin and demean it with more breaking news witch hunt garbage so bad for our country that's a tweet that came out about a minute ago on the heels of house speaker nancy pelosi calling for a formal inquire joo oy into eachment we don't usually talk about politics on the show for sure except that in today's session we saw the markets dictated by every headline if we can show the chart we have exactly when the markets started going down and that started with the tough talk on china coming from the president out of the u.n. then the news report that pelosi will have an announcement later today regarding impeachment. we saw the mechanic take a leg

letter the president saying i'm releasing the transcript the market pared alsos and that faded into the day when we knew it would continue with the 5:00 p.m. announcement what does it mean when we are held captive by the headlines? what does it mean for the markets if the house does goes down this road. >> i got to belief 37 with we're not msnbc not political show. >> yes. >> but game it out a little bit to answer the question so much of in -- so much of the market is waiting for the deal with the chinese if you are in china right now with what we have just heard are you now quick to make a deal with the uns based on this my sense it no but that's been something i've been saying some time. i think this pushes any deal with china out in the future the flipside of that is is the president now maybe feeling that he is somewhat backed into a corner is he more quick or is his instincts now to make a deal with the chinese that might be as -- not as advantageous as one

would have been. there are a number of ways to play it out. but i can't for the life of me come up with a section can conclusion that this is markets positive it's not. >> karen where do you stand. >> i think it's not really making a difference. i think that you know one of the effects of being as divided as we are as a nation is that i don't think an impeachment changing anyone's mind who is a trump supporter to continue to vote for trump and who is a trump rate hater to hate trump i do think it's causing greater grid lock than we have we have pretty bad grid lock already. there wasn't a infrastructure bill about to happen now won't but i don't know that that mr. will matter. i agree -- i feel like china is still the big issue annan then secondary is the fed and the economies around the world i feel like that's more important than news today unless for some reason there is a growing sentiment among senators to get onboard which i don't see

that happening unless that happens i think it goes no where. >> cowen research came out saying the base case scenario is that the house votes for impeachment but that it goes no further than that. at the same time, at minimum, karen mentioned sort of the grid lock that could be intensified we have another trade deal that congress needs to approve. usmca? and see delayed? so many implications in terms of the end of legislating here because of the mouse dealing with impeachment. >> if we look back to when bill clinton was impeached and if you go from start to finish there was a lot of volatility initially but eventually the senates didn't convict, the s.n.a.p. up 28% over the course of the time frame. i don't know that history is going to repeat itself but what i can say is that there is a lot of politicsle uncertainty out there right now. and that is typically a contrarian indicateser right? if you are trading based off the latest trade or political headline the market will chew

you up and spit you out. you need to figure out whether or not you believe the bull market is intact and if you think it is you use the volatile moments as opportunities to add to positions >> that's what you'd be doing. >> that's what we are doing. >> we are here to respond to market response to threats of political influence or politics on the mechanic process. we've been through a handful of the cycles during the trump administration what i would say about today this is clearly escalation of a new political threat that has not been -- i don't think measured by the market to this point. i don't think impeachment was at all put in a market risk factor except for when we started into the mueller investigation. think about what the mueller investigation during a couple of the early spikes of momentum actually did for the market. it was detrimental in the short-term, not something that we ultimately saw play out in terms of a -- any material impact but to the fact that there only

have been -- and we o again we moved towards impeachment today didn't nouns it the articles haven't been prepared. but there's within only three other impeachment hearings in history. the factyou could raise this specter when german efo was off of market crisis laws japan he is machining sector sung into contraction. germaniy upper back under siege from a kbloebl trade war and yet consumer confidence in our country which we know and talk about every night on the show how the consumer is really the story. and yet you're -- you're looking at at least expectations factors that in this report this morning were only the second lowest since before the trump presidency. >> the markets have been able to shrug off the market uncertainty in the past. but when the back drop of the economy was stronger and now the difference is that it is weakening. we have to get to ammon javers

more from president trump. ammon was the latest. >> the president is venting some of his frustrations over twitter in realtime tier in the past couple minutes the president tweeting pelosi nadler hif and of course maxine waters, can can you believe this of an singling oumt soum of the democrat being leaders who will be spear heading this impeachment inquiry efforts that nancy pelosi announced. niece are people the president views very much as political enemies now they'll be in charge in some ways of determining his political fate here. another tweet from the president in the past two minutes saying they never saw the transcript of the call a total witch hunt here the president returning to some of the rhetoric that he used successfully to deflect the mueller investigation into russian alleged -- alleged russian collusion between the president of the united states and the government of russia that inquiry ultimately didn't amount to age in terms o political consequence for the president. in fact if you recall, melissa, robert mueller testified on capitol hill on july 24th it was

july 25th the very next day that the president allegedly made this call or did make this call to the president of the ukraine and then allegedly brought up this joe biden investigation that he wanted to see, melissa just one day after mueller's testimony on capitol hill this series of events begans which now led us to the moment we are in today. >> ammon, thank you for keeping us posted. wramen javers in front of the u.n. in new york city. guy adami. >> yes. >> let's say we go down the route of impeachment what are some of the other implications here for the president and for an agenda for the markets. >> what are the implications it's fascinating i brought up the u.s.-china trade deal backup that's first and foremost then the market will say will the federal reserve have our book i've said it's a while it's foolish to think the fed is going to back stop the market. i think we find ourselves with the vix closing at 17 today, a significant move from yesterday's close. in my opinion it's too cheap in

this environment but i have to tell you, it's something i've been saying for months now and for months it's been incorrect maybe this is the final straw. i have no idea maybe we read the transcripts tomorrow and this goes away. but i'm hard pressed to believe this is how market positive. >> let's say it does impact president trump himself in terms of being impeached because i think at most people people would say that's a long off prospect tapt does it wound the president into the 2020 election cycle and make the cans of a democrat winner greater which would be seen according to consensus few views for what's that worth as market nchgt. >> think about november 9th from 2016 and how people were sprites surprised that the impact of the clean sweep across the three legitimating branches but effective what it men for a total change in tide didn't matter whether you sought thought things would get done. back to the markets today you had the extraordinary 102 opinion year note auction.

we were at 190 last woke back at the move lower in yields for everybody sit esaying her hitting the low in yields. a lot of people are scratching their heads again. doesn't matter what the fed does it's not monetary policy there is nothing monetary policy is can do deport for the rest of the world. you've been every central bank question that. this is about fiscal policy or getting on it with it and right now it doesn't look like we are getting on with it. >> house speaker nancy pelosi moving forward with a formal impeachment inquiry into president trump. we are watching nike shares that cutting all-time highs in the earnings the call getting under way. we break it down one of the biggest bulls is standing by the claim that stock head to new highs. we hear what he has hisom excited. much more "fast money" right after this also a company that controls hiv,

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welcome back to "fast money. if you're just joining us. we have breaking news out of capitol hill house speaker nancy pelosi announceding opening a formal impeachment inquiry into president trump. the president trump taking to twitter to blast the move as a witch hunt

the latest tweet a series of treats in the past 10 minutes is simply presidential harassment splamgs point. we bring you the latest as we get it as the hour progresses. in the meantime we have an earnings alert on nike the suffolk hitting a fresh all-time high in the after hour sessions for more on the result let's get to sarah eisen at the nyse. >> another strong set of results from nike continuing to defy what the company views as a volatile macroeconomic environment fraught with geopolitical risk and rising u.s. dollar. it affects them. but nike continues to shine. beating bottom on top line punctuate eighted by 22% revenue growth in chf. mark parker the ceo wrapped up the initialing comments on the call he addressed the elephant in the room and the elephant in the market for the stock which is the u.s.-china trade relationship and the new tariffs that could impact nike on apparel consumer products and foot wear. listen. >> in relation to tariffs we've

been clear we strongly believe in the power of free and fair trade. historically we have effectively nachgted through excessive duties appear we're confident we'll continue to do so under the current dynamic. >> so projecting some optimism around the newly announcinged tariffs. analysts say this is a company with about 25 percent machining exposure in china. and it's nimble able to move factories it's been in vietnam and bangladesh a long time they don't see huge impact besides the strong china results other factors that led to the beat that parker led off the call, digital continues to grow very fast for nike talking about the growth that they're seeing particularly in the sneakers app and direct to consumer has been a huge strategy that's been paying results for investors later lately in other words going for the apps, website and stores to consumer directly instead of relying so much as it has in the

past on wholesalers like department stores. he mentioned new initiatives pan new sort of growth areas of the quarter, the women's world cup, for instance, he said their innovation paid off there. apparel are revenue was four times the size of previous world cup in the all nike final. he mentioned the new joy ride, kind of the new running speaker that was a big hit during the quarter and that zion williams signed with the nike family this quarter clearly nike gives consumer as reason to pay up the margins high are and the results around the world including europe which hasn't shown simon strong for american countries and north america it's home market coming in better than expectations. >> sarah, thank you so much. sarah eisen at the new york stock exchange, the stock up 5.5% if you had to pick it apart is there anything to not like >> yeah, a little bit. >> okay. >> north america was up 4% and-on essentially even in ebita

terms up 2%. the brit spot in the last couple quarters is the spot that people might say they are petering out areas of growth including womens, dplj and some of the apparel business booming in asia is not pg happening here i'm not ready for that and what's interesting is the way nic pay flies in the face of every discretionary brand that talks about asia up 27% when you talk about the pan china region for them being a place where they see apparel, seeing it in women, in areas that actually are a little bit different, a little bit more diversifies it's exciting. >> you would have thought they might have set the bar too high with last quarter's china result in terms of expectation going in and here they are very strong. >> they continue to execute. nike is a company absolutely crash crushing it right now. the whole direct to the consumer thing where any try to offer the right product at the right toit

to every consumer they could possibly sell sell to has been downright impressive if i full out my phone and hop on instagram it's krepy but they are going to show me the same shoe i'm interested in and it's wild they are crushing with the digital parentheses they have the neeker app nike app and all the different apps and making it easy for the consumer. >> to me the most grieves was the gross margin that gross margin expansion was really. that was impressive. they have pricing power that tells you that that's really important. and so if you can do that -- and then to also have your sg and a under control. then the earnings bet, the only tiny negative was that they had a better tax rate which sounds positive it is. but it's not recurring. >> right. >> this was really impressive and all fronts on top of -- the baier was already high appear they jumped right over it.

>> yes. >> still big valuation. we have all said that. the april high was 90 or so. basically we're there now. you want to punch holes, okay north american revenues a little lighter than expected. off is the set to karen's point gross margins up 130 basis points that's really good year over year eps up 26% thap that's really good inventories up 12% for the quarter that could be a great thing if people -- if the demand is there but if the world goes pare shaped over the next couple months you wonder about the 12% inventory build go ahead. >> maybe that's on trying to get in front of tariffs andabilitying inventory. >> trying to get in front that's great if there is demand on the back end but the world goes sour. >> then they are stuck. >> big valuation, great quarter i'll are trying to play doubles advocate but 90 dlarps is the line of denmarkation if it refers like before then i

think you have to consider taking profits and pull the rip cord. >> again nike up more than 5% right now. relevant we have to take a break but we'll have more on the breaking news process high pressure noci a peaker snans employers anunnglan with moving forward with formal impeachment inquire ys into president trump. we'll have more market reaction straight ahead [leaf blower] you should be mad at leaf blowers. [beep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated.

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we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. welcome back to "fast money. in case you are just joining us at the top of the hour house speaker nancy pelosi officially moved forward with formal impeach. inquiry into president trump for more on this ant potential impact on markets. let's bring in chris harvey great to have you with us. >> great to be back.

>> your year end antarctic is 30 8. >> nothing changes but you would expect a repricing so with the uncertainty we put forward, with the focus on impeachment, what would you expect you expect bonds to rallies. bond proxies do better sell would have in bangs and risk product for a short period of time. but we looked back at nixon, clinton, and what you had back when nixon was was a bear market and that bear market continued >> and oil shock at that time. >> and oil shock what you had with clinton was a bull market and that bull market continued. so that's what we speck. we expect a repricing but the bull market to continue. listen, this market has been very, very resilient somewhat paranoid andish as of late but what have you thrown at it, interest rates potentially going to 1%. thrown in a bombing in saudi arabia pch you have thrown in the recession word time and time again and now you have

impeachment. we should expect a bit of repricing with you we think that equities president even eventually go higher but because the fundamentals are still good. >> what makes the repricing deeper >> what makes it deep ner the short term if trade and tariffs fall off the rails always the issue is sentiment, what does sentiment do if we see bonds make it down to 1% you could see unraveling. those are things i would look at >> i think you are sort of dancing around u.s. china relations does in speed up a deal or thwart any notion of a deal >> well the impeachment proceedings it's fresh we're trying to figure out what's going on. why did they do it now what are they trying accomplish at this point in time because they're not getting it through the senate sfloot he wasn't there a new event that was the galvanizing force. >> we don't know the news there could be a smoking gun or maybe not trump has been under

investigation -- almost this whole time and nothing has come of it i'm not sure exactly why they're doing it at this point in time we'll find out shortly but a lot it has to do with that maybe what possibly is they are getting close to negotiation maybe possibly the democrats are trying to muck that up i don't know maybe they do have a smoking gun. we don't know. and until he get more information it's hard to really ascertain what's going to go on. >> what's your view of a democrat winning the white house? and would this be a wrench in president trump's re-election bid? >> i could. >> because if -- if president trump is weakened going into the 2020 election, it strengthens whichever candidate it may be how would wells fargo view that as market negative, market positive >> if we're going to price in a democrat you have to price in a up can of things you would expect health care to be heavier because the democrats have traditionally been stronger

handed on health care pch with regard to market sensitivity, you could expect the democrats not to be as friendly to markets especially if it was senator warren and so we would have to preprice in similar expect aches. >> just a little bit. >> just -- just a little bit. >> tim's being sahr taskt because you think the repricing should be more than a little bit. >> if we thought there was any prospect of senator warren have a shot, the markets would be in trouble. it would be very -- there would a lot of anxiety. >> but let's go back a couple of years when trump was about to be emit elected what did people say? is the u.s. and global economy going in recession and that didn't happen if you remember overnight when president trump got elected futures were down 5% with we ended -- i believe we ended up on the day. so i don't want to go to the nth degree just yet. but i would price in a dmor dramatic snor with a democrat nan president trump. >> in the model what are you assuming for europe orp the rest of the world for growth?

>> the rest of the world, with china what we think is china will stimulate until they can't. and they -- they can stimulate a very, very long time all right they don't want to negotiate from weakness and go into recession and they don't have to. with regard to europe europe is going into recession we see and know that what does that mean that means four bonds lower for some time. >> economic willically we can decan you believe and we have but we have to monitor. >> we have talked about negative stuff. but you see the s&p making new highs what are you most excited about in. >> it's the resiliency we threw everything we could don at the market in august and down 1.5% and issue ins middle east positive still high are. and we shay the mechanic shakes off bad news and a constant repricing we had a prepricing with moment up and quan and the market moved

high are you are taking out the froth taking out things that could cause dislocations and making the market healthier moving forward. >> as you were processing this news, chris, what is the number one thing that you'll be grabbling when you get back -- i'm assuming that tomorrow morning you have to talk to clients about this. >> absolutely. >> what what are you anticipating. >> the first thing we see is what happened before the same thing with nicken and clinton. and then we focus on trade and tariff that's the overafternoons theme. and then we go back to the fed we take in the information does it have teeth if it does, then we rethink how we look at markets and risk product and the way things things are repriced. because f2 there is something something there we have more risk aversion in the market and we have to rethink the which we look at the world. >> mouch pricing do you have in the model then -- i know this is literally -- >> something tonight when you get back to your desk, chris

after the show. >> right. >> how are you going to think about just sort of the wheels just grinding to a halt in congress >> if that is the -- just sort of the minimum impact here. >> the wheels grinding to a halt in congress. typically when you have grid lock that's good for stocks. however this time around, it's going to be a lot more difficult. the good thing is we are getting a lot of information in a short period of time we're going to have negotiations around the 7th of october backup we're going to have more information with regard to the impeachment. it will come out in drips and draps. we're going to have the transcript from the phone call with trump the other day let's see what's in there, right. is there a moeking gun there if there is again we have to reprice. what do the democrats come out with and how unified are they and then let's take a look president trump his approval rating is actually going up. let's not forget that bill clinton after his impeachment

his poles started higher does li how does it work out and what do we think the end plan is is there something here or are they trying to do to hurt his re-election prospect we don't know. as we go back i'll be up in canada tonight but when i get back to my desk these are things we'll think about. and it's hard to pr at this point but we know that if there is something is there, risk aversion is moving high sfleer you're going to canada bringing your laptop. >> annual my black brey and iphone. >> thanks, chris chris harvey of wells fargo. >> what do you think, karen. >> i think like the guy, the vix is too low i'm always long. mechanic goes down i lose money i think the vix is too low you need some protection. >> coming up more fallout to house speaker nancy pelosi calling for the impeachment inquiry into the president we bring you the latest. veus the wework drama reaching

fer pitch what could it mean for the ipo market stay tuned much more "fast money" straight ahead. - stand up if you are first generation college student. stand up if you're a mother. if you are actively deployed, a veteran, or you're in a military family, please stand. i will tell you this, southern new hampshire university can change the whole trajectory of your life.

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has been a very busy 42 minutes on ht show house speaker nancy pelosi announcing a short time ago she is opening a formal impeachment inquiry into president trump the president taking to twitter blasting the move as harassment and a witch hunt switching gears here we work reaching fever pitch adam neumann set to go public. dedra has more. >> when i talked to naomi neumann at the start of the year we acknowledged being a public company ceo would be ha hard but said you need to block out noise and keep delivering on the long-term plan as you said melissa, the noise became a fever pitch i couldn't ignore how two woework executives arty minimize sebastian cunningham and neumann becomes non-executive chairman and he creeds majority voting control. so what is is next for the company? does neumann stepping down bring

the company closer to ipo? that's unclear right now the drama valuation reductions and the delayed ipo though, remember that happened before reports of adam's questionable behavior, questions surround the business model signing long-term leases and then subleasing them on a shorter term what happens in a downturn? also the problem of cash burn without another capital raise wework can't grow at the same rate and may need to scale back. its revenue growth which kubld in 2018 year over year is what separates it from the iwgs, the regionis us of the world without that kbroegt and without the frontman, does wework look more like an overvalued real estate play. guys back to where we started even with the two ingredients many were asking that question and that is unlikely to all go away now that there is a leadership change. guys. >> and dedra, there was a loan contingent upon an ipo, it sounds that potential source of capital could be of off the table for now.

>> that's why this is such a tricky balance for adam neumann. he may need no li need to go about a to masa appear softbank. it was a $3 billion capital raise. and concontinuing on ant $6 billion-dollar debt facility that's 9 billion they don't have to continue growing. >> dedra bosa in san francisco and of course the company burned $2 billion in 2018 the rate of cash baurn is high here. >> we talk about we work because it's a fascination with the company. but what it speaks to for the broader market, wework if it was a stocks down 65% from the all-time high effectively from a $48 billion valuation to current levels -- that's a significant move we would talk about this with a publicly traded company. what does it mean in sterms of central banks? tim and i talked about this. means the central banks flooded the systemway cash lacking for who homes. those are negative consequences of this. but if you are looking to play

stocks, people will say the nasdaq maybe loses to thp. the stock was up on a lousy tape today. names in the exchange space still work sfiet what we talked about. >> karen we were talking in the green room about why adam neumann would come around and say i'll give up control, i'll be non-executive chairman, et cetera one explanation could be that he is you know acting in his own self-interest and the value of his share goes higher presumably if he removed himself as problem. you are pointing to the personal loan he has. >> we don't know enough about it it looks like he had a $500 personal loan from jm porgen usb as the filing he had drawn $380 million of the loan. i don't know how much stock he had again the loan when he took out that loan, things looked very different probability than yesterday

i think they look better for him today. i think in this current environment with him as the ceo and all of the sort of noise surrounding him, and o an ipo was not doable and now i think depending on who they get, i think it is potentially doable if you think about uber and all the noise around travis and -- who ended up being a great hire. and you know so uber had a difficult ipo but still got it done i think with new management they could get it done. and there is all the equity that needs -- they want the company to stay afloat, right. >> right. >> so i don't know that newholm-a choice i don't think he did >> really quickly, softbank, too, who owns more of this and who owns more uber this is a bright light op the biggest investor, the smartest investor space, top ticking almost everything. >> allegedly smartest. >> throwing so much money at the secretary are and at the industry and really skewing a whole lot of valuations that now

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welcome back to "fast money. we are expecting the gop response house speaker nancy pelosi's announcement earlier this hour that she is officially seeking a formal impeachment inquiry into president trump so as soon as they come out to the podium we

will bring it live, the gop response we are looking for. in terms of markets right now we're taking a look at the spiders. the ten-year yield has been holding steady so tomorrow morning, guy adami, quickly was are you looking for? >> yields. yields to me will be the tell. yields that turn into gold but yields 165 your being ghi. i think they go lower. >> it is time now for the final trade. tim seymour. >> the irony of nike's numbers with the consumer confidence number and concerns about the u.s. consumer these guys and consumer discretionary gold continue to do what they do i'll stay in this name, dtc is very powerful and profitable. nike >> agoty vision. it's been in the. >> before your final trade what are you looking for? >> i'm looking for same as you and the smoking gun.

let's see if there is one. let's see what is in the letter. >> that transcript should be interesting. >> great robert cray song "smoking gun." con ed along the roots of rates and stuff, e.d that's the final trade. >> e.d >> all right again, we are expecting at any moment now the gop response to house speaker nancy pelosi's announcement she is seeking a formal impeachment inquiry into president trump so we are looking at that podium because we are waiting for the gop leadership to come out remember, president trump and his response to nancy pelosi had a series of tweets, one of them singling out democratic leadership including chuck schumer as well as maxine waters for tomorrow what's the initial sort of things you'll pull up? >> some of the macro people are looking at watch what's going on in the consumer staples space, guys talked about utilities and what happened to the xlu. the dynamic of understanding when we saw the numbers coming out of germany