we look forward to watching it thank you very much. that documentary will be out tonight exclusively here on cnbc at 10:00 p.m. eastern time you don't want to miss that. we are out of time it was great to have you back, sarah. >> i will be back tomorrow >> excellent we are out of time here thanks for watching "closing bell." >> "fast money" begins right now. it loss, live from the nasdaq market site this is "fast money. traders are brian kelly, kirn feynman, guy adami we kick thing off with a major market alert stocks plunging as the coronavirus rattles investors. the dow falling 453 points it was not just here in the united states. global stocks also selling off every major market in europe lost 2% or more. as did the asian markets that were open. remember, the china markets are closed for the lunar new year

holiday all week maybe longer the economic fear is widespread across many industries and companies, casinos, cruises, airlines, tech, all falling deep into the red so, the question is this -- just how much will stocks continue to pull back as this virus spreads, guy adami, we hope it does not if it does get worse on that front, do you expect the equity markets to also react. >> we are attributing the selloff today in large part to this virus maybe it is. maybe that was sort of the final straw over the last however many months of things happening but a lot of things that have been taking place have been taking place long before anybody ever heard of the coronavirus we are going to talk about the bond market. yields going lower the gold mark has been going up in a stealth way for the last six months a. lot of these things have been in place. 20 warnings signs, metrics all flashing red for the broader market to your point, i guess, maybe

this was sort the final straw in this whole thing and that's what tipped the scales. if it gets worse, yes, the equity markets will going to continue to sell off to the downside a lot of things have been put in place. even if this virus or thing get better i am not certain the market will react favorly. >> to goi's opponent just before the end of the year we were concerned about a recession coming then the data got better trade war, things seemed to form sort of a truce and the upside continued. how much of an economic shock is this, let's call it slowdown in china due to let's say either us or europe? and europe is probably most exposed economically to china. and is that enough to stop any momentum we had. looking at the numbers in germany, the ifo expectations were less than expected. if you think there is going to be an economic shock here then it makes sense that europe was probably ahead of us in selling

off? we did math around the exchange in oil i think you can do the same with the numbers. $14 trillion economy, $1.2 million per month. let's say it slows by 25% for two months you have effectively now got $500 billion if my math is right that is just taken out divide that by the number -- there is sort of a way to come at it mathematically, i think. >> that makes sense. you have to make assumptions how long it lasts and how pervasive it is. but to me the second level question is how much will the market look through it and say we don't focus on this quarter's earnings let's talk about the business going forward. is it going to be substantially changed? i think not for a lot of these businesses for example, alibaba, which i have wanted to own for a while missed it, it went trite straight through 200 on its way to 231 this. morning it opened below 200. i bought some today. i would like to own more

i bought young china last week that obviously today wasn't great. but i think that people will look through those earnings and ultimately it won't matter. >> did you buy more young china today. >> i didn't. i bought alibaba today sort of spreading around but i think this -- in short order will not be the biggest threat as it seems to be right now. i agree with guy, we are looking for any reason to sell of, the run we had was parabolic. >> it is unquantifiable to know when the fierce about this will end. if you look at the amount of deaths and how it is spreading it is small. if it doubled in a week would that be a lot? if it doubled in two weeks the disruption to the supply chain is important and a lot of the sales, if you are talking about chinese consumption they might not get back, u.s. multinationals who do a lot of business in china, retailers or restaurants, that sort of thing. what i mind most interesting about this is that of all the

places that this could have happened china is probably the worst place for the global economy if you think that the way their economy is slowing right now and the kbikss it has on the rest of the world bk mentioned right off the bat, europe we talk about green shoots the economic is at best stabilizing. that comes after a period of massive easy money in this mid cycle adjustment or whatever the central bankers want to call it. it is unquantifiable i say this, the s&p 500 was at 3,000 two nof months ago and a week ago at 3300 an awful lot of price appreciation for not a heck of a lot of news. if you attribute to it the back end of the fed easing and the trade war i would tell that you the unknowable about this situation -- i am not trying to be dramatic -- is the sort of thing that neutralizes any of the benefits we have gotten over the last months. to me when i think about it we went up 10% in almost a straight line

could we come back and support the s&p at 3,000 i would say yes. if you have a 3500 i don't remember entarget that might be your best scenario. >> lots to unpack. let's take the ideas and put them into separate boxes let's start off with the macro economy. the world is four economies. being rough here the u.s., china, the euro zone, and then pretty much everybody else combined. four that are semiequal. china is a third of the luxury goods purchases, the second biggest consumer of oil in the world behind the united states, the biggest importer if they slow down 30% for the next three months like they did with sars, had that hurt the rest of the world? >> i think it has to we are not ins lated from those things the answer is yes, it will hurt. coming back to the united states, with the economy that's 73% driven by people buying things, and god, you don't want this to happen but if you start seeing more and more people in

the middle of times square with face masks on people are going to start to question, maybe i shouldn't go out to eat on saturday night, maybe i shouldn't walk into that starbucks. don't think that doesn't happen. consumer behavior had this country changes on a dime. if people start to get scared you see how quickly spend willing slow down, which is one of the reasons quickly that the politicians are so quick to try to assuage the fears of people and they have no idea. i am not suggesting i know, but i am smart enough to say that i don't know don't go out on tv and say we have it contained. they have no idea if it is contained or not. >> somebody bk equated this. this is lunar new year, their big holidaying big spending, lot of restaurants, supposed to be a happy time, gift giving. they have effectively shut down big cities from participating. it is as if you want to shut down 11 chicagos during christmas week. >> right again, to the unknown, what economic does it have not just on china but for the rest of the

world? there is some kind of economic shock here and that's what the market is trying to price in that's what the stock market is trying to price in that's what the bond market is trying to price in to guy's point what is interesting about the masks in times square i went out to lunch today in midtown manhattan, trillions of dollars are moving around people are selling off yet to be seemed to have a problem. no masks in mid town, no worries. that tells me that investors aren't pricing in the worst case scenario here, which is probably a good thing. >> let's bring in bob michael now on set, talking about maybe this flight to safety that we have had bob, it is a pleasure to have you on the program dan made a great point sort of at the end of his previous comment, which is, is the fed out of gas here? that's part -- i think that's where you were going, which is we talked about the fed making all of the easing moves and if something were to happen, they would effectively powerless. i don't want to put words in your mouth but that's kind of where you were going right

>> they called it a mid cycle adjustment but a lot of people who were skeptical at the time were saying do woe need this now? don't we want to save the powder for an even we can't perceive. >> they could potentially do six more 25 basis point cuts we have seen it helps. we have seen just with the three rate cuts what happened to mortgage refis and the confidence to the consumer it does work they have plenty of fire you are po they also have their balance sheet. right now they are maintaining it we can debate what the front end liquidity injections are doing they can go back to maintaining their balance sheet. there is a lot they can do >> but what q 4 gdp is tracking below 2% what did it do other than just kind of do what it has always done is just inflate risque sets >> well, that may have been one of the things that it did. but there is no doubt when you look at the mortgage market,

refinancings are up a lot. that put cash into consumers' pockets. when you look at a lot of the economic activity it was centered around the consumer i can draw a hard line from federate cuts to the consumer to spending and they have got some powder left >> little, it is not just been here you are the global head of fixed income the central banks around the world, what is it, 90 total cuts or something like this >> absolutely. we totaled it up it is staggering everyone talks about the three fed cuts for 75 basis points there have been close to 60 central banks that have cut rates 90 teams for over 9,000 basis points they have literally flooded the global economy with money. and a lot of them have gone back to expanding and maintaining their balance sheet? bob, i am curious, we were talking about kind of the economic impact here what's going none the fixed income markets when you talk about those interest rate cuts you get zero

yield in europe. you get zero yield in japan. the largest -- does that mean everybody has to flood into the bond market and we should all buy tlt. >> it is interesting. in the last week, sentiment in the bond market has gone 180 degrees. everyone around the world was looking for a rally to get out of bonds thinking with compromise on the trade front you would see some start-up of economic activity. now everyone is thinking about getting back in. it is the safe haven and as we start to see that play out -- i am not saying everyone has gotten in yet. i think there is a lot of discussion people are waiting to see how things play out. it is the money overseas and the negative yielding bond markets that is eyeing the u.s. bond market like dog looking at a bone and just coming right in. >> solemn ask you, today's move, is that all flight to quality? if we see a coronavirus sort of

tempering. >> i think it is the early stages of flight the ultimate quachlt it is probably more of unwinding of so of the short positions that have been put in since the phase one trade deal had been agreed to i think there is still big money to come into the bond market there are still central banks expanding their balance sheets i think we could easily do another 20, 25 basis points here that brings you to about 1.35 to 1.4% on the ten-year not too far away from the bottom half of the fed's range, which is 1.5%. i think for it to go lower than that you would need an indication that the fed would have to putt cut rates in here. >> at what cost? to me this is all madness. i might be an outlier here but they are setting us up globally for some catastrophic event. i mean, this is the greatest economy in the history of mankind. i read about it all the time and hear about it. yet we are doing emergency measures i am like what's the emergency i don't know what the game of the federal reserve is and central banks globally, but at

what cost are they doing all of this nonsense? >> i used to be you. >> sorry to hear that. >> i used to sit there and go stop the madness, this is crazy. and then the fed spent three years, 2015 to '18, raising rates and starting to run down its balance sheet. what happened to asset prices other than government bonds? equities continued to go up. privates went up and they found a way to do it. so the central banks have found a recipe where they can provide emergency stimulus, and then they can begin to work it out when the economy is strong enough to absorb it. so, bob, as an extension of that question a little bit. last summer when the 210 yield limit, you know, there was a lot of fears about recession you just said under certain circumstances you could see a retest of that 2016 low. what happens if they break it,

right, what happens if that yield curve gets inverted we are that much further along where everybody, strategists and economists were saying it is a 100% indicator when it inverts we get a recession 18 months out. >> the fed didn't start cutting rates until later in july of last year. the curve was inverted for a while. these 90 or so central bank cuts, they were back and loaded. and they were responding to what they felt was a manufacturing recession globally could ripple through to the consumer side and then you had a phase one trade deal i think they are eyeing what's going on with the coronavirus. if it does take a lot out of gdp they will respond and they will see how far it goes. >> what are the chances that in reaction to this, there will be a day when this comes to an end that chinese government which is known for using the iron fist as much as the velvet glove will

flood its own market with liquidity, will bring its bigger form of stimulus they are already kind of doing one right now. in other words does the chinese government and its central bank have the financial fire power to counter or even overshoot the negative economic impacts of this >> to some extent, yes i think they have learned from 2003 and sars. you are already seeing with it the faster more deliberate response w the immediate quarantining, the sharing of information, the transparency. you can you can project that onto the capital markets and think they would inject more liquidity to stabilize things here and they have been able to do night maybe ultimately they will push that system up bob michael of jp morgan thank you for joining us. >> thank you. it is interesting, guy we talk about sars it is the only china-based

historical context that we have. but let's be clear in 2003, the chinese economy was smaller than the state of new york. $1.6 trillion in gdp it is $14 trillion now it is a whole different animal. >> dan nathan made that point. it is an excellent point and the markets were in a much different place. i don't think there is any way you can draw conclusions based on what happened 17 years ago. i mean you can try but i don't know what the point is i will push back quickly every central banker says we are trying to avoid recessions why? why try to avoid recessions? they are a natural part of the business cycle it is like just allow it to happen and it won't be ten times as bad five years from now it is painful but it is necessary and it allows good companies to flourish and bad companies to get out of the way. it is corporate darwinism and for some reason we are not allowing it to happen. and federal one is square one in

this my opinion. >> thank you guy adami. so much to do. up next, panic buying. one biotech soaring on just the hint that it is going to go after a vaccine for virus. we will dig in on that big move. later on, the big story front and center for your money. this week's earnings will factor into a newly uncertain macro environment. as always, live from the nasdaq in times square in new york city we are back after this i can tru. (impact, click) who is with me for the long-term. who understands i'm dealing with lives, not only livelihoods. that in order to help people, i need more than products, i need quality support and insights. can i find someone who partners with me to achieve people's long-term success? with capital group, i can. talk to your advisor or consultant for investment risks and information.

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welcome back the virus fear is certainly not the only major news story today. president trump's impeachment trial is continuing in the senate all the attention seems to be falling on a book by one mr. john bolton. elon mui is live for us on capitol hill >> the "new york times" is reporting that john bolton's forthcoming book will detail direct conversations with president trump over withholding that aid to ukraine in exchange for investigations into his political rivals so that would mean that john bolton would have first-hand, eyewitness knowledge of the allegations that are directly at the heart of the impeachment trial, allegation which is we should say that president trump

denies but bolton has said that he is willing to testify so the question that's hanging over capitol hill today is will the senate call him to do that we know that mitt romney is a yes. >> i think it is increasingly likely that other republicans will join those of us who think we should hear from john bolton. whether there are other witnesses and documents, that's another matter but i think john bolton's relevance to our decision has become increasingly clear. >> one of the senators joining him appears to be susan collins who issued a statement saying that the book strengthens the case for witnesses and prompted discussions among her colleagues now the white house does seem to be preparing for the even of john bolton being called to testify. already today the white house has tried to argue that democrats are too dismissive about the power of executive privilege. >> to treat the separation of powers and constitutional privileges as if they are

asbestos in the ceiling tiles. you can't touch them >> the white house has also spent much of the past hour raising questions about on the hadar biden, brian clearly, republicans want to hear from him as well. back over to you. >> graumt days thank you very much. question, is the impeachment having any real impact on the market or do you think that today is really perhaps about the virus or just an excuse to sell karen, where does the impeachment, if anywhere, matter from an equities perspective >> i don't think that was really what was happening today we were talking about it before, coronavirus, and just an excuse because the market had gone straight up. maybe if we get to a day from now and you have four or more who vote to have witnesses, maybe it goes up a little. i still think that the chance of acquittal is very high very high. >> again, bk from the cnbc lane, just from a mark perspective, there was also

i am sure you heard a small chattering that said maybe it is because sanders's polling numbers seemed the soar over the weekend. >> yes. >> and today may have also been a reaction to that. >> i think that's the bigger -- if we are looking at it just from what are the political risks out there, i am predicting bernie sanders in october was at a ten. he went to 41 over the weekend to get the presidential nomination the market, the stock market has not priced in the fact that bernie sanders may be the democratic nominee so whether you like it or not, that's the reality of it i think the impeachment is probably on the back burner in terms of political risks but a bernie sanders democratic nomination is not priced into this market. >> i don't think it had anything to do with that. i think if anything ultimately when any of this about impeachment hits the market it is going to be making infrastructure breaker or tax cuts that's are the things i think i will have on the market segment.

>> risk mitigation is your thing. is it prude ep for our viewers to buy puts. >> the summer you might get a democratic nominee. >> or krinz. >> whatever it is. 2019 you had a great move in the market without a sellout there was only three selloffs in total and i don't think there was a lot of perceived risk going into this year all of a sudden it feels bad but we are still up, 30% year over year be careful about big puts. i am selling them. >> you are closings out some of the positions that you already had that were hedges that's the way a lot of traders like to do that. what you are talking about is specifically lining up against the democrats convention. >> if you don't want to sell stocks some way to get protection and a tax kbligs. >> yeah. >> as always you can get live updates on the impeachment trial

on cnbc.com. we have more ahead on "fast money. specifically this. >> stocks tumble as the deadly wuhan virus spreads. where can you seek safety in the selloff. later we are about to kick off a mega week for earnings coming up, the five key names that need to be on your radar. stick with us. "fast money" is back in two. it's them, calling us. it's going to be a week before they can get through on these roads shhh, sorry, i didn't catch that. i said ask how soon they can be here right now? what's now? he says they're surveying our property now they're probably at the wrong house i don't see any hovering his name is hovering? look up? by automating claims with machine learning and analytics, cognizant is helping insurance companies advance how they serve even hard to reach customers. cool ♪ to take care of yourself. but nature's bounty has innovative ways to help you maintain balance and help keep you active and well-rested. because hey,

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♪ ♪ ♪ don't get mad. get e*trade, dawg. all right. the market selling off as fears over the deadly coronavirus continue to grip investors in china and around the world the dow falling 453 points comes when we kick off the busiest week of earnings season so far 134 s&p 500 companies are set to

release their numbers this week. carter worth is here he says there are five names you really need to focus on. cornerstone macro's carter worth over at the plasma to break it all down >> big is more important than small. guess what the market is so dominated and everybody knows this by the top names. four of them report this week. google next monday so in the next five business sessions the five biggest stocks representing as you can see here, 18.4% of the s&p, and more importantly, one half of the nasdaq 100 top five, 50%. so much hinges on these performing and it's steam and uncorrected couple charts. now, the two panel doesn't show this well. we will zero in later. this is five or six years of the nasdaq 100 the bottom panel calculates for us what percentage we are above or below the 150 day moving

average. exactly two years ago. the two year an verse of the january 262016 spike we got to this spot and stopped dead cold. let's zero and make it tighter here it is this is the spike in january of 2018 and here we are now. we have literally got to 15% above and stopped dead cold. this of course turned down just like that. so/so much hinges on these names. and my hunch is they are just -- either way we are putting in an intermediate top, whether they all blow out or whether they all miss we can talk about that in a bit. here's the setup for the s&p it is fantastic, just a normal garden variety giveback in the event this is an unhappy result for these companies. for the nasdaq 100, a higher beta and higher flying

the exact same set up, the brekout from the ascending wedge. and a pivot become to the break out juncture would be 11%. i think that's the kind thing one should be anticipating in the even of very good news or frankly very bad news. >> carter, why don't you come on over bring him in >> let's trade this. karen, you were scribbling notes. your take on carter's five to focus on top five at 5:00. >> the 15% is very interesting so does it matter that apple, which is already down from i don't know 323 down to 310. >> what is it 2 or 3%, peak to trough. >> something, but not a ton. do you think they are all going to move together regardless of earnings >> if you look at the implied move of all five, it is 4.5% on earnings they all have earnings coming up in the next sessions

let's say they all do the maximum implied move up or all do the maximum implied move down a thought can be made that either way we get a peak they would be a blow off steep move october when you get further extended that's how it runs or let's say they all miss, the market slumps in response. meaning a case could be made regardless what happens we are going to put in a top regardless of flus or force majors. >> it was coming any way >> flus. >> hopefully not. >> yes, that the market -- think about it this way. on october 3rd, before this whole thing took off, and you were speaking about this the market on a trailing 12 was unchanged. from october 3rd until this recent selloff in january, the s&p was up 16% annualizing at 50%. the nasdaq is up 75% annualized. it was too much. so i am making the case that

regardless of what they say. let's say they are all fantastic. that would be the culmination or they are all poor -- obviously it will be some blending the market doesn't know either what is the narrative to take you higher after having just pushed this high already >> real quick i would say this i don't know how you feel about -- it is not about the company amazon but i would submit this quarter this release on thursday is extraordinarily important. double tops in the summer of 2018 to 2020 the stock has recovered but it seems sort of failing here is this quarter important for the stock amazon >> 100%. amazon is the one that struggles and will need to put up the best number i think of the bunch. >> carter worth, interesting stuff there. big week for earnings.

14 companies. still ahead did investors panic buy on one biotech that says it will work on a vaccine for the coronavirus? shares up 24% today. the name ahead later on, the virus is having a big impact on big oil. why that may be very bad news for investors and maybe the state of texas stick around ♪

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welcome back to "fast money. the dow falling 454 points today. the nasdaq, it lost 2% biotechs held up better than much of the market a few fell but a few seem to be getting a lot of interest because of their connection or discussion of a connection to the krinz. let's get to meg tirrell at cnbc hq. >> biotech may have been down but look at some of the stocks that closed in the again johnson & johnson. moderna, and vir they are all working on potentially attacking the coronavirus. the exception is regeneron, which is working on a potential drug but it closed down today about 1.7% these are not the smaller micro cap names that are volatile

during outbreak headlines though analysts say some of the moves may be exaggerated johnson & johnson is the world's largest health care company and has experience creating vaccines we talked with paul stofls about their previous work and what it suggests for this time around. >> we have done this in ebola, in six months from having a construct virus to scaling it up and bringing it to humans. with zika we have done it in 12 months where we did not have the virus and we had to start from scratch. here here in the same situation as zika. we have from a sequence which we now know. >> looking into whether approved drugs for hiv is helpful against the coronavirus. smaller bioteches are also in the hunt this morning we visited the labs of moderna which is working with the nih on a potential vaccine together they have selected the

protein on the virus for the vaccine to target. moderna is working on producing enough to supply the nih to supply a phase one clinical trial the we have been working around the clock to get that batch manufactured. >> they are hoping to do that within a few months to get it into humans. >> i want to ask you about a follow-up. we talked about vir therapeutics it is a small cap. it is not tiny, 2-plus billion market cap the stock soared over 20% today merely because they said they are beginning to investigate whether they are going to be able to investigate some kind of an anti-dote. >> this is vir biotechnology they are not one of those micro cap names you often see on outbreak headlines it is a relatively young question founded by people who have track records and who are credible while they are a smaller

company, there is belief in what they say and in that they are looking into their pipeline and looking into their library of monoclona anti-bodies the see if any of them have activity against this novel krips i don't think judging by their press release they are making outsized claims. what is outsized is the reaction on the marketplace they made the announcement last week, the stock jumped 20% that shows you something about how people in the market are trading around this situation? what meg is referring to is there are companies that are out there that have 40 and $50 million market caps. we will never talk about them, i will never mention their thames but they are up 80 or 9 to one rose 2 hundred%. you have to be careful. >> you have to be careful long and short. because it could be up another day. it is dangerous. j&j reported on january 23rd it was a solid quarter

stock trades at a discount to its pierce without question. no denying that. look at the high the stock made january of 2018 oddly enough was around this 149 level. the stock has had a big run to the upside i think you have got to take profits in j&j rather than try to play the breakout here some we had the basically head of infectious diseases at j&j today saying they were going to try to upscale i think was his term to rush this out to six months is see if they can get things done. crude oil unable to escape growing fears over the virus outbreak as well investors who have been in the market long enough might be having deja vu about crude's move lower look at what happened to crude when sars hit in 2003. it went from 28 to 25 and change a drop of 30%. that was because of a concern of a slowdown in the economy because of sars. then oil went on a run to $145 a

barrel let's fast forward to today. people are using the 2003 record as a reference this is a two year chart of oil. that was 2003 we just showed you. this is the last two years you can see a drop the last two weeks. oil was weakening before the virus hit. look at the $50 mark i wanted to draw a carter worth-like line at 50. that level has been tested and held three times in the past year the idea guys, watch 50 but also keep in mind 2003 as dan noted was a very different time in the economy. much larger now, oil by the way was 5.5 to 6 million barrels a day in china now it is 14 million barrels. >> using oil like that, i think it makes sense look at utilities, the best performing sector in the u.s. stocks up 6% in the year it has literally gone straight

up this year oil has been going down. yields have been going down. i don't think it is the coronavirus causing this this was already happening maybe it is just a reference on global growth. maybe all of this stuff about you know supposedly we are going to -- 2020 was going to be the year of liftoff, maybe it was never happening. >> oil peaked the day that iran did their retaliation bombing. oil gapped higher and then med looly closed lower and hasn't looked back. this was well before any coronavirus. wti was at $66 i mean this is a big move down in the last couple weeks well before the virus came along. >> before all this virus stuff came out about three weeks ago we ran through the numbers on the air. it was about there is about a million more barrels of oil in the world than there are necessary. remember libya is effectively gone 800,000 to a million barrels a

day is off line because they have a fight and the war lord is sort of controlling the pipes. even with libya off line oil continues to fall. because if china's economy slows by 20% you lose 30 or 40% for a month or two, china has a billion barrels in storage and by the way, the stocks, continentals, not ticking anybody in particular, oasis, stocks down in two weeks. >> what was the oil production back in the sars days? you are putting me on the spot here 4 million or 5, now we are at 14. >> whatty don't you say it doesn't matter because they didn't quarantine millions of people in one week. >> it doesn't matter because -- >> you are not getting the purchases back the activity is not going to happen that's the risk of the blip in q 1 2020

that's going to be the story, why gdp had this -- >> alternatively we are talking about low interest rate and low oil for the american consumer. that's fantastic >> true but there were reports that opec might step in to try to do something this the interim. remember 58 brent, i can assure you were personal conversations being at opec five or six -- they don't want that that's not good for them 58 watch for potential further opec costs and watch for shares of gas. even if you don't own fossil fuse, if you own an etf look at what's inside it. still ahead, carlos ghosn going on the record. what the fugitive ceo said about his dramatic escape from japan you cannot miss this. plus we are counting down to apple earnings ulbinuers out of cupertino be able to turn this market around? stick with us. back in two. you can find it in the vitamin aisle in stores everywhere.

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with a $150 billion investment in state of the art, modern infrastructure, and a nation-leading commitment to low-cost clean energy, new york is doing more than any other state to build for the future of your business. new york state, the state of the future. learn more at esd.ny.gov. world's most famous ceo turned fugitive going on the record with cnbc carlos ghosn signature down for a rare interview with phil lebeau tonight you will hear new details from ghosn about his spectacular escape from japan and how he felt throughout his journey.

>> istanbul is a city that lies across two continents. europe on the west and asia to the east once the heart of the byzantine and ottoman. pirs it has long been the connection between the black sea and the rest of the mediterranean. here, carlos ghosn reportedly will doekt his final destination, beruit. according to this flight tracker for that night, the global express jet flies across russian air space. the plane lants at at aturk airport in the predawn hours of december 30. on your fleet out of japan was there ever a point where you took a deep breath and you said okay i am free i am not to lebanon yet but i am free, no longer in japan or japanese air space. >> i took a deep breath when i got to bay kroout route, not a moment off. >> not even when you got to istanbul >> not a moment before. >> fugitive ceo, the carlos

ghosn story premiering tonight, 10:00 p.m. eastern >> coming up next, gearing up for apple. their numbers are out tomorrow after the bell we will tell you how options traders are setting up for the print. we are live as always from the nasdaq in times square we are back after this la to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge ptelligence.

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lap. apple shares taking a hit along with the broader market. the move comes as it preps to release results after tomorrow's close. apple fell about 3% today. let's get to josh lip ton about more on what investors are looking for inside the apple numbers. >> q 1 eps of 455 on a refuse of $88.5 billion. that suggest a top line increase of 5%. apple has surged nearly 100% in the past 12 months on excitement about an expected 5g iphone, increasing confidence in the higher margin services segment as well as recent strong growth in wearables today as you mentioned apple slipping into the red. there is concern about china's viral outbreak what does the coronavirus mean for apple? how can it dent demand china accounts for an estimated 17% of sales. also, china is a key link in the

company's supply chain and ever corps notes that two of apple slyer sites are in wuhan, seniored the epicenter of the virus. they think apple will be able to shift production to other unaffected sites all of this coming as apple has been showing improvement in china. last quarter greater china wretch fell just 2%. >> josh lip ton, thank you very much apple, guy adami, what are you looking for? >> for a long time we said doing the math apple is giving $15 a market multiple at 2.5, 288. that's where it got to i think an in-line quarter or benign quarter i don't think seeing it back to 280 is crazy that's not same i am an apple bear i am not but this stock has been an excellent trading stock over the last couple of years dan can outline that but we have seen moves of this

magnitude to the downside. >> in no way am i minimizing last quarter but when you are dealing with what we are dealing with now 42 stores in china huge, millions of iphone sales does it take away a little bit from these numbers >> i -- no for months people have been dealing me apple is a services story it is no longer a hardware company. if you bought the stock believing that this shouldn't matter you are buying it because the services revenue are going to become a bigger part of what they are doing i am not sure i buy into that. the other thing is the 2k3wa anticipation that's already in the stock. you need to tell me, what's going to be the catalyst what are they going to say on the casualty tomorrow that's going to be new information that i don't know about that's going to cause me to buy a stock that's owe above 100% over the last year. >> the 2018 revenues in china for apple were down 30%.

that was a year ago. the stock traded below 140 here we are. we got to 320. if this doesn't cause the company to give cautious guidance almost a year in front of this 5g launch, the reason why the stock was up supposedly 100% last year a year when wretches and earnings per share did not grow and the multiple went from 14 times to 24 times then i would be very, very surprised. i think as it overshot the upside it gets to to guy's 280 point where you slap a reasonable multiple on it and set up for the 5g ramp at the end of the year. >> let's stick with apple. one option's trader is betting today's pullback could be the ticket to more gains when they do report. mike kho mike khouw is in san francisco what do you see on apple. >> it is one of the most active single stock options in the

marketplace. we saw calls out pace puts 1.5 to 1 today right now the market is implying that apple is going to move about 5.5% by the end of the week that is a bigger move than the 4.6% or so it averaged over the last eight qurtsds i think some of what we saw in the marketplace today may help explain that are we saw a lot of activity was this the weekly 320 calls and the 325 calls. that's betting half a percent of the stock price that it could rise up to that 325 level by the end of the week. >> mike khouw. for more "options ti,"unacon te into the full show fridays 5:30 p.m. eastern time. up next are our final trades >> options sacks sponsored by think or swim by td ameritrade ♪ ♪

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this round's on me.eat. hey, can you spot me? come on in. find your place today, with silversneakers. included in most medicare advantage plans. enroll today by calling the number on your screen or visit getsilversneakers.com

final trade is sponsored by interactive brokers. minimize your cost and maximize your return. all right. time for your final trades go around the horn kick it off bk. >> on days like today it is time the take a step back and say what has been working in this market miners >> karen. >> target hung in well today

i think it is washed out from the earnings miss a couple of weeks ago. >> xlu, i am a seller. >> i am swimming in bk's pool right now with the chicago mercantileexchange cme. >> good stuff there. big day. go>> my mission is simple, to me you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money" and welcome to cramerica. my job is not just to entertain but to educate and p put this into context so call me at 800-743-cnbc or tweet me @jim cramer are we