extension in terms of the stimulus and the fed meeting, the dollar of course incredibly soft. >> without a doubt. i do think the market is assuming there say deal assume there is a deal on stimulus but not rock bottom. deciding to look past that right now is the way the market feels. >> closing down at 1.7%. "fast money" starts right now. >> "fast money" starts right now. guy is back, tim see more. tonight on fast play ball or not in the already delayed baseball season maybe back on pause. plus, gold closing at a record high today, but in a flight for safety, could bitcoin be the better bet? and pod stocks lighting up. what's thoet got those trards hopes so high. but we start off with senator mitch mcconnell unveiling the details of the bill. kayla. >> reporter: melissa, top senate

republicans are now diving into each different part of this h.e.a.l.s. act as leader mcconnell termed this deal. it stands for healthic economy assistance liability protection and schools. the trillion dollar package has $105 billion for schools. that is more than was in the democrats heroes act from back in may. it has another round of direct checks and it has an add unemployment benefit of $200 a week. that's a decrease of what it's been for the last several months. but senate finance chair chuck grassley just noted this is going transition to 70% of a worker's pre pandemic wage over the course of the next few weeks. senate majority leader mitch mcconnell said that the virus doesn't care how fragile the economy is, but that the u.s. is not write a blank check. it needs to be tailored for these specific times and crossroads. but democrats are already saying it's far too tailored.

after mcconnell took the floor, senate minority leader chuck schumer said there needs to be food assistance for kids and family, hazard pay for essential workers, funding for state and local governments, and there need to be more generous unemployment benefits and that the way the republicans are trying to calculate this is impossible. here's senator schumer. >> chaos, chaos. you change the unemployment benefit, it's going to take weeks, if not months, for most people to get it. the economy crashes, people are hurt, they get kicked out of their homes, they can't feed their kids. what are you doing >> clearly there's a lot of daylight between where republicans and democrats are at this moment. in just about an hour's time, the pressuretreasury secretary, house chief of staff and nancy pelosi are going to be meeting in the speaker's office. that takes place at 6:00 p.m. to see exactly what this republican

proposal looks like and how it will change from here. >> thank you. a lot of daylight is maybe a polite way of putting it, guy. it sounds like there are vast differences between the two sides on this and the deadline is fast approaching. >> yeah. and, mel, but i think the daylight's going to quickly become some sort of deal because, look, everybody's going to politic on this. it's fascinating to hear mitch mcconnell say they can't write a blank check. i don't know when he became so fiscally responsible. it was just a few months ago that steve mnuchin pulled 4 or $5 trillion out of thin air. the whole thing is theater and somewhat folly as well. in terms of what it means for the markets, we have tony coming on, it's bullish for the markets. the fact that the s&p 500, is at the 3240 level, the level we broke down from in early june is good. vix closing below 35 is also

good. despite a shake in last week, they find itself on extraordinary resilient ground. >> it ncourages people to stay long or be long in the markets, tim, at this point. >> i think the rotation we've seen over the last couple weeks is real. and i know we've talked at length about the divergence between growth and value. but if you look at what the dollar is doing, it's certainly stimulus to the value plays in the market. it's very large for multinational companies. it's very important for companies that have any reflationnary dynamic to their livelihood. weaker dollar which we'll talk about is one of themes over the last couple months. that has major implications for different parts of the company that have been somewhat beleaguered. if you look at what this week holds, we've been allergy it all day on the network, between the earnings, a fed meeting on wednesday, we started getting some rumbling over the weekend that they may be concerned about a bubble. guess what

we have one and i think this is something that guy also referenced. it's amazing which actually republicans have not necessarily shown that they can be fiscally restrained and democrats have actually gone the other direction. so i agree with the fact that it's very difficult to believe that fiscal stim mu sluss driving the market. it's good we're getting some kind of global, economic coordinated move. you saw that out of germany tod today. durables number were better here today. >> let's say the devil's in the deda details. let's say they meet in the middle down the line are we going to look back and say, oh, well, retail sales are down, consumers aren't spending as much because they're not getting the $600 that they had been getting for the past couple of months? >> well, right.

i think that's a good point. i think that they will certainly meet in the middle. but my question is, is that meeting in the middle actually going to be a robust catalyst for the market to move higher? my contention is that current market prices actually reflect a future economic reality that already includes additional stimulus. we're in this weird economic reality where if you're looking for a "v" recovery, it's in manufacturing. tim mentioned durable goods today so you see there. but we have a economy driven by services. you can keep giving people more money, but unless they're going to leave their houses, as long as they're not going to continue acting the way they did before the virus, then does that money find its way back into the economy? i look at some of those cyclical areas, and they've had a good run. but my guess is over the next couple of months we're going to default back to the comfort of that large cap tech type of trade. i think we're going to need investors to believe that the economy is off to the races. we may even need to see slightly higher interest rates for us to see a trurotation in te rotatio

cyclical before that sticks. >> we had plumed levels that we hadn't seen on the dixie for about two years. how does that change this rotation that we're seeing or the strength of the rotation >> so, mine, the dollar is really -- it's the new vix here. when the dollar was rising that meant there was some real tensions globally. now that the dollar's falling, it's probably good for financial assets globally because the dollar's the reserve currency. emerging markets should do well, growths nationally should do well with a falling dollar. there's a caveat to that. it's the goldilocks scenario. how hot, how cold do you want it to be? if the dollar really starts to fall and accelerate, let's call that the dixie below 90 and you've got a real acceleration and the inflation rate comes back, we're seeing what's happening with gold and silver

and other kmocommodities, then see that come and that would hit the market. but we're a long way away from that. so we've got this tailwind again. i agree that i think the market's priced in the stimulus, to me that's why it's the biggest risk to the market that if we don't get a stimulus i think the market has priced it in so it will have to price it out. but until proven other wise, you have a pretty good tailwind for equities here. >> tim, you think the dollar gets weaker faster than we think? >> well, 9% in 90 days, i hope it doesn't go -- yeah, i hope it doesn't do anything faster than it's doing right now because an orderly decline in the dollar i guess is okay to a point. i just think that -- look at the divergence between the treasury market. we may make new nine closing lows, we're very close. that's the other side of this entire story.

so, yes, i think it's -- we see economic recovery, we do see stimulus, we see the fed going not very far from where they are which is having the back of the economy. but i do think there are some things the markets need to be concerned about after having priced in an enormous a. gomounf good will. >> i think one of the issues here, guy, if you had studied markets and historical correlations and then you got dropped into this market today, you'd probably be saying to yourself, what is the shheck is going on >> 100%. >> this does not make sense. what do you make of it >> i didn't get dropped in today, i've been sitting here obviously for the last 32 years. but since march specifically, exactly, i can't figure it out either. i don't pretend to know. i think i see what's going on, and i obviously have opinions. but, you know, if you had told me all this stuff six months ago, i would have painted much different picture in terms of where our equities are.

that's me being truthful. in terms of the dollar, tim sort of alluded to it. i took economics in college, i didn't do particularly well. on the graph point of diminishing returns, we're getting close to a weaker dollar than what it means. this goes back to something i've said about the administration. they wanted weaker oil, they got it. and then they had to do an about-face. and they obviously wanted a weaker dollar and they're getting it. but be careful what you wish for, because at a certain point i don't think a weaker dollar is necessarily all that bullish for equities. >> let's get more on what is at stake for this market. bring in tony, the chief market strategy. tony, always good to speak with you. i'll start off with the same question i just posed guy. what do you make of the markets gold at all time highs, weekly closing low on the ten year yield. 6% today. the s&p 500 about 5% off from record highs. what does this all mean? >> well, to what -- thanks for having me, mel.

but to what everybody's saying, it's all about excess liquidity. the market went into a recession market following the curve in a clear credit crisis that was developing. opposed to what was happening in 2007 and ''08, the fed got on the game faster than anybody thought they would. i think it was on april 9th where they announce thed were buying some areas of high yield and municipal debt. that's a big deal because that takes municipal debt issuance and protecting it to some degree, allows for state and local agencies to not have to puke credit to raise money if they have access to the market. the way that the fed has handled this and created extraordinary liquidity. and the game changer currently on the turn in the cyclicals, which i think is much more important than what we're even talking about, was when the oecd

indicators, they track global economies, 0% of them at the end of june were positive. 0%. the only time i could see that happening in their data going back, all the way back, was after the -- was in 2009. now, it works -- the data works with a six-week lag. what's interesting, though, is 90% of those 37 economies are seeing a positive month-to-month change. we've got historic liquidity, access liquidity and a synchronized global recovery that people are not yet believing in. >> so, tony, you came in a few weeks ago with a 3,300 s&p 500 year-end price target and part of this call you're saying that the markets are in a consolidation phase. and pulling forward the assumption of a biden win raising taxes, democratic sweep, et cetera. and i'm wondering, what's on the other side of this consolidation, just straight up

and how long do you think this consolidation lasts? >> so let's take history, because, you know, my opinion is irrelevant. the history, when the dollar goes down 8% or more, we did a study today that shows when it goes down 8 p% or more, traditionally goes down double digits, anywhere 13% to 18%. since the 2009 great financial crisis it's happened three times. in all three of those times, you got the dollar so oversold, historically oversold like it is now on a 14 weeks -- it created a countertrend rally. i wouldn't be surprised to see a countertrend bounce in the dollar that would kind of churn the market a bet, especially the bigger cap names then you get another lag lower, which is hugely positive, not just for the markets. let's forget about the market index. let's look at the cyclical and economic stock. when i look at those three prior occurrences, from the peak of the dollar to the lower of the dollar, it was a double-digit drop all three times.

emerging outperformed, russell outperformed, economically sensitive outperformed they have logged heroically so far. i think the real call here, my target's 3,300 plus. and it's important to say the plus because i have no idea what you're supposed to pay for unlimited global fed, right? it's 20 times? i think it's at least 20 times. could it be 25 times sure. i could come out with a crazy target. but it's more focused on the global economic expansion. >> always good to with you. thank you. >> thank you. >> it is funny to think bay multiple based on qe infinity. brian, it looked like you were nodding your head in agreement with tony there. >> that's exactly it. how do you value this market when there's going to be unlimited amount of dollars printed? it's -- it's a crazy number. and you wonder why the market's going up, because it's being manipulated. it's as simple as that. they're buying investment grade debt. they've taken all the risk out

of the market. you buy equities in this case. i do think what tony is saying is interesting. you look outside the u.s. and you are seeing the countries have that have the virus under control starting to come back to life and get some economic activity and that's probably relatively good again for the multinationals, weaker dollar, those should do pretty well again. >> yeah. jeff, time to look overseas? >> yeah. bk 1 exactly where i was going to go. when you're talking about a weak are dollar i obviously question if you're still in the u.s. but who with you look at the construct of the u.s., they're far more cyclical than they are here in the united states. think when the dollar rolled over in may, you have ea outperforming by 10% to the u.s. and u.s. is a service-based economy, that's the sector that's most challenged right now, if you go abroad, it's the exact opposite. i look at data out of germany today. i look at the fact that they're

not dealing with a device election coming up, and that think that that in combination with the fact that you're paying cheaper prices is the time to look overseas. i know we've been saying that for a long time. but the weaker dollar, you're more levered to doing better internationally than here in the u.s. >> let's go to meg with the breaking news from pfizer? >> the vaccine news coming fast and furious today. pfizer and his german partner now announcing they have begun their pivotal phase two/three trial of their covid-19 vaccine that's beginning in the united states they plan to enroll up to 30,000 participants. they'll going to have 100 trial sites around the globe but the first one is here in the united states. i'm being told that the first patients either have been dosed or are being dosed eminently. they're going to be roll around the world as well including

argentina, brazil, and in germany. this will enroll up to 30,000 people ages 18 to 35 on that one to one ratio vaccine versus placebo. similar to the ma dern know vaccine candidate. pfizer was evaluating four candidates to take the best one forward. and the one that they have selected is one that they hadn't yet presented the data on. we saw data on one candidate. it looked good was the assessment from experts in the field. presumably, the candidate selected looks even better. pfizer on the release saying on the to esh-- in terms of the neutralizing antibody levels and t-cell levels but that it's more tolerable. they didn't see the same side

effects like fatigue, headache. notably with the vaccine they already presented information on, 75% of people on the 30 micro gram dose, which is the dose they're taking forward had fever after the second shot. this will be two shots at the 30 micro gram dose. they're saying they have data on older adults on this vaccine from the early trials that looked good. the neutralizing antibody tighters were hire than people exposed to covid 2. that's the news from pfizer right now. we should note that maderna started its phase through. this race is just kicking off in the pivotal trials for potential approval if these vaccines do well. back over to you. >> i'm just curious in terms of how the phases are conducted. phase three, as i understand it, in vaccine trials is usually when you determine how long the vaccine lasts in terms of protection. these are very compressed

studies and so will we actually have a good handle on how long protection lasts or is it just going to be -- we're going to determine this once it's distributed and in the field >> yeah, like everything with this pandemic, things are being done very differently. so pfizer is talking about potentially being in a position to apply for regulatory review by october. so if they're just starting now, clearly by that point we'll only know a few months worth of protection data. so they're going to be following the participants in this study over a longer period of time to see how long any protection does last. but, the trial will essentially be continuing even if these vaccines are given some kind of emergency use authorization. >> meg, thanks. meg terrell keeping on top of all these developments. guy, i ask that question because, well, it seems like the market has sort of had a dulled response to each incremental dose, excuse the pun, of vaccine news. but, at the same time, you know,

the assumption is that a vaccine comes out and to some degree it's a lightswitch for people to resume economic activity. for from what meg is telling us, it's not a lightswitch, it's sort of like maybe it's on, maybe it's off. i don't know if you get a vaccine if you're going to change your behavior, at least in the first batch. >> yeah. well, personally, i don't think so necessarily. vaccines, again, i'm not say r virologist, as they say. but there's a reason why they take 18 months to two years, that's because of the trials people have to go through and how fastidious these companies have to be to get them to market. although they rush this one through, the polls say 40% of the people wouldn't take a vaccine right now anyway. i understand why the headline would be bullish for the market, but this reality i'm not certain

that's as bullish as people think. >> i'm in that 40% too, by the way, tim. at the same time, would you choose to -- if you had to choose a vaccine to take, say all of them were -- would you take the one from moderna which, would it enter 2020 had 20 candidates for drugs not yet approved and wasn't expected to hit the market for two to four years. or would you take a vaccine from pfizer i'm only asking -- i'm not saying one's going to win or not win, but from an investor standpoint, this is an important question. >> i won't tongue and cheek say this is a would you rather i'd rather not be a part of. but think that's -- you know, we have a dynamic here where these are just headlines. and meg has gone into some great detail talk about the size of these stud detectives diies ando high in the united states, we need to get an announcement on where the leadership is on a vaccine process that has this massive study. i don't think that these announcements are market moving and i guess i would chime in and

say the same thing. i think folks are ultimately going to decide for themselves and the lightswitch is not necessarily going to be flipped on or off. that's why we are seeing the reactions in those most hard-hit hospitality sectors, et cetera. i don't think that people are going straight back in. otherwise, those are trades you could be in right now. but the vaccines are a guide post at best. they're not market trading eye vents like they were two years ago. >> >> josh. >> so melissa, they have changes to the company's technology organization and executive team for intel. new names and new positions here in a range of departments, technology development, manufacturing, operations design eveni engineering. they're saying this is meant to accelerate product leadership and improve focus and accountability in process technology execution. importantly here too, the

executive is going to be depoorngt august 3rd. that's interesting he was talked about at one point by some analysts as a emotional successor to brian. of course all this coming after intel just reported earnings and tanked they talked about these production delays when they're first 7 nano meter would go on sale. back to you. >> thanks so much. the chief engineering officer steps down, it sounds like heads are rolling, guy, for that 12-month delay of the 7 nanometer chip. >> yeah, and i think it was goldman sachs that downgraded the stock three or four weeks ago. although i think they kept the $64 price target on it, not that that's meaningful. intel was trading decently well a few wakes aeeks ago. obviously the bottom's fallen out. that's not good news. people will talk about valuation now. i'm not certain you can cast it under that light.

now that $46 level, that's where it traded down to on the marleau march low. it's the movement of amd into earnings too much too fast i think that's something we have to talk about at the back end of the show. >> we'll talk much more bin tell and the chip stocks. they surged to an all-time high today. we'll tell you what got these shares moving. plus, it wasn't just gold on a tear today. check out bitcoin prices going up. we'll tell you how much high they're crypto coin can go. stay tuned. some companies still have hr stuck between employees and their data. entering data. changing data. more and more sensitive, personal data. and it doesn't just drag hr down. it drags the entire business down -- with inefficiency, errors and waste. it's ridiculous. so ridiculous. with paycom, employees enter and manage their own data in a single,

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welcome back to "fast money." we've got more details out of stimulus bill. let's get to kayla with more. kayla. >> reporter: the stimulus package is broke e broke on down into several different pieces of legislation. the one being spearheaded by senate chuck grassley deals with the nuts and bolts of the economic assistance programs. that is the stimulus checks and the expansion of unemployment insurance. first on the unemployment insurance, a summary released by grassley's office says that that will be capped by october at 70% of a worker's pre pandemic wage but that it's up to the states to actually make that calculation. and that there will be a cap on that of approximately $500. i've inquired whether that cap is per week or per month and i will let you know what i hear. the plan also adds $2 billion for states to administer unemployment insurance erble

essentially to help states get beyond these program log jams that we saw in april and may when the volume of people applying for these benefits was through the roof. as for the stimulus checks, the qualifiers are exactly the same. $1,200 for tax filers who are individually making $75,000 or less or a couple making $150,000 or less. the change, melissa, is that previously only dependents under 17 would qualify a family for that extra $500. in this plan, every single dependent qualifies for $500. finally, one of the employer benefits that is embedded in this proposal is raising the kpl employee tax credit from 65% of wages to 50% of wages in the c.a.r.e.s. act. but had is just a portion of the overall package. we're still going through and there's a lot more to learn. melissa. >> thank you. a lot more to learn about this

and of course this is just the opening gambit of the g.o.p. so there's a lot more twood chwoodp on this. >> we're trying to get house holts holds back to 70% former income. i think if we look at the trades that have worked so far as it relates to some of the consumer trades, whether it be best buy or other electronics, i really think that the housing trade, look at the charts on a whirlpool which just announced last week, look at the charts on nasco, sherwin-williams and then the homebuilders. these are the charts that stay consistent with the environment that is everything covid relate and also putting money in the pacts of households that may need it but, in some cases, they decide where they're going to put it and putting it into the household with some of those other secular trends, i would stay in those names. >> sherwin-williams is one that the corner stone really pounded the stable on last week very

decisively, jeff mills. would you stick with this home building trade with the fed pumping liquidity into the market keeping interest rates so low, this is a trade that seems like it's got legs. >> yeah, i think it does. and my final trade on friday was dr horton. i think homebuilders as a whole, a specific name like that where you're exposed to the housing sector, he think you do stick with those names. lowe's has been catching up with home depot and making changes in management. i don't know if this is the catalyst that brings us high fwroir thigher, but if you look at tim's suggestion, look for these things and they trade well. >> i bet you've built some nifty things in that backyard of yours. >> lego sets, swing sets, and restoration hardware. restoration hardware was a great story prior to this.

obviously, like everything else, it got whacked in march. but look at the move in rh from -- i think it made an all-time high today. that's a name we've been steadfast on. so these dollars that are going back into people's pockets is just one more tailwind for a company that's really done everything right now for the last year, year and a half, despite the fact that my building, you know, i'm more ikea than rh. >> so you like to assemble shelves that's impossible to pronounce. brian kelly, you're picking the housing sector >> right now i'm picturing guy with an allen wrench putting together something with about a thousand pieces. but what's interesting is a lot of times people say don't buy xhb because it's not tructi construction itb. but you're talking about a

retail trade. permanent saying i'm goi people are saying i'm going to be here longer than i expected, i need my own space, get the kids in another room. those rates continue to grow. interest rates ridiculously low. it's going to be that fuel. and you have to look, are any of those trends changing any time soon no. people have money, they're sitting at home, they're going to fix it up and they're going to go to guy's ikea, i guess. coming up, the grand reopening hitting the rocks as the marlins delay their home opener. so how big a hit will this have on sports bet something we'll get answered. and later, earnings from visa, what they expect from the money reports. "fast money's" back in two. e o. and i'll tell you some important things to know about medicare. first, it doesn't pay for everything. say this pizza is your part b medical expenses. this much - about 80% - medicare will pay for. what's left is on you.

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welcome back to "fast money." we've got a very special interview coming up tomorrow. bill gates sits down one-on-one with andrew to talk covid response and the race for a vaccine. that's only on "squawk box" tomorrow starting at 6:00 a.m. eastern time. well, it looks like baseball is back in jeopardy. the mlb postpone williing games coronavirus hit the marlins. sports king tanking on the news finishing at 6.5%. let's bring in bernie of rosenblatt securities. thanks for being with us. >> thanks for having me. >> you cited the risk of covid-19 into sports causing delays and here we what would this mean. it season were scrapped? >> yeah, so i think right now we're going to be dealing with this being the new normal of having canceled games. but really there's incredible demand right now or pentup demand for watching and betting on sports. so, what we saw with record ratings for opening day and then

also in new jersey sports betting revenue was higher year-over-year in june. so i think that. it mlb does get scrapped, it's certainly a negative headline risk. but ultimately we think sports betting in the u.s. is going to be a massive opportunity going forward. >> is this the kind of thing where you're going to just look past the next six to eight months or so assuming that the mlb and what's happened there with the outbreak is probably going to happen with football to some extent and possibly with basketball too. >> yeah. so it seems, you know, there's two paths there going forward. one is with the bubble, and that's also nba and the nhl. the nhl just got back 4,300 tests today that were all negative. it seems like the bubble in the nba is going great. both those seasons are starting later this week. we're really bullish about that season being able to last. but then there's also the mlb and the nfl is which is having travel. there's more risk there.

nfl is massive for sports betting. but, to your point, yes, we think that pro sports are going to come back at some point. so if it's not this year it's going to be next year or the year after and this is just a blip in the buying opportunity here for the long-term holders. >> hey, it's tim. thanks for joining us. i guess my question really i about the competitive landscape. to me, draft kings is playing the long game and as sad as some of these setbacks have been for baseball, you know, you've talked about this with their market share and how you've modeled that. who else is in the game? what other exposure is investors going to have to osb or online sports betting >> yeah, certainly. so we have -- draft king has a 25% market share long term, we think there that could be ultimately conservative. but we think draft kings and fanduel are going to be two of the major wirns here. fanduel you can play through flutter, the owner there. and then there's other ways to play. penn national gaming is another one. bar stool, we've talked to a number of investors who are very favorable on that stock as well.

and then fox owns fox bet, which is really interesting. you saw fox sell off a lot today as well. that's more can they make the transition from the bundle because right now almost all their economics are based on the traditional bundle. cord cutting is accelerating. it's going to accelerate even more if there aren't sports. so then can they transition with fox bet and their probably ultimate ownership of fanduel as well. >> great to speak with you. thanks for your time. >> thank you. >> jeff, this is a space that you liked. what do you think now? >> it was a fast -- it was a fast pitch of mine maybe a month or two ago. i still like it. we're going to have fits in starts. but looking over next six months we're going to have more sports, not less. i think draft kings has the brand recognition. i think there's this dynamic, as more sports come on line, people are going to still be at home. so to bernie's point, you have thin creased interest in long term sports betting. i think that sticks. and longer term, you have the

catalyst in legislation. california, texas, new york, these are big states that have not yet legalized online sports betting. i think when they do, you'll see a big tail wind to some of these names. i think draft king is well positioned to stick with it. >> i would rather -- >> i would -- sorry, pete. >> go ahead, bk. >> go ahead, big guy. >> okay, bk will go. >> i'm sorry. >> all right. so, on draft kings, this is what bk thinks is that the selloff today really overdone. i think if you think about it, how are human beings going to react? they're going to say, boy, i better get my bets in now in case the season is closed down. so i think if anything, it pulls earnings forward and the risk is that draft kings outperforms on earnings. >> if only we were in the same place, right like the old days, the old days weren't even that long ago, right? >> imagine that. >> he with wouldn't ha-- we wouo

have all these delays. so you're watching hockey and that season is extremely long, as we all know. >> so you yore, mare you, mel. >> so what are you not doing you have a limited number of hours so what are you not doing and is that a loser on the back of sports whims? >> it's interesting. i thought, you know, if you'd asked me six months ago i would have thought i would have been devastated by the lack of sports. it really hasn't borkthered me l that much. it's more passing to me. i've sort of moved past it. i will watch hockey. but i don't think the hockey season is long enough, but that's another episode of another show. but to jeff mill's point, draft kings, if you're playing the long game, this selloff is an opportunity because they're doing everything right in a world that is just -- wants to gamble. i think you had a record number of bets on the ankee/nationals game on opening day on thursday. that speaks volumes as the pentup demand for at least that

industry. coming up, the call that sent the chip stocks to another all-time high. what stock got the biggest boost today. and bitcoin boom. why crypto may be a better buy than gold. stay tuned. and to support our . at this point, people's livelihoods are at risk. what can we do to support each other? there's no room for competition. we're so much stronger than if we were to stand on our own. ♪

welcome back to "fast money." taiwan semi shares soaring. the analyst boosting the chim maker saying intel delays paved the way for outsourcing opportunity and greatly expanded the market. tsm shares up today helping to boost the semiconductor to yet another all-time high. i mean, specifically they're looking at doubling the revenue from intel because they might outsource some of this stuff to

tsmc. jeff, you like this. >> yeah, i think it's interesting and i agree with the note. but you're talking about taiwan semi having added 34 billion in market cap the last couple of days. my question is has it moved a little bit too far too fast? i think that's the question we have to ask ourselves. i think credit suisse made som reasonable assumptions in that they're saying by 2025 they'll have 25 percent of intel's business. my question is, does that come to fruition? is this a permanent shift in the production line or is it temporary to fill the gap? i don't know. but after the move we've seen, the stock has hit credit suisse price target. i would be careful trading the stock here. overall, i still like the space. these are companies that have a lot of big tailwinds, whether you're talking about ai, 5g, you name it, it's at their backs. but -- and i think investors are going to continue to look to the space because they have good balance sheets, cash flow, and showing growth. even though a lot of these names

like amg and nvidia are expensive, i think they're going to look past that and this is a space that can still perform. >> and we'll get a read on amd later this week, guy >> we will. last quarter they reported -- i think the stock went from 54.5 down to 50 or so. we talked about it that night. we said it's a huge opportunity between 49 and 50 you buy with both hands. lisa will be on "squawk box" tomorrow morning, if you recall. that worked spot on. now the enough to 69 to me is a little excessive it concerns me. i thought it's going back to 60. this is an overshoot. so i'm inclined to take profits into this number and if it continues to race to the upside you'd miss it. but i would expect you'd see it go back to the $60 level and that's where you reenter the name. >> coming up, the ultimate would you rather, gold orb bitcoin. plus, shares of visa charging

more. what trars adere expecting when the company reports tomorrow. fa"fast money" will be back in two.

welcome back to "fast money." it wasn't just gold going higher today. check out the price of bitcoin climbing back above 11,000 for the first time since september. bk, we're going to pose the ultimate would you rather to you, gold or silver or bitcoin >> well, i mean, for me, it's going to be bitcoin. you might say well, bk, you're biased because you run a crypto fund. but i also trade macro, which means i have a whole bunch of different things i can invest in. kurns currencies, stocks, bond, precious metals.

and bitcoin has a better fundamentals, that's stock to ratio, it's better at that point. when i look at the cycles, the bull markets tend to cluster around the happenings. so we're tracking right along the 16 havening cycle. that would mean in 2021 you're looking at eight bitcoin price of 20,000. that's the long term target. in the shorter term 10,500 was a big number. we're breaking out of a two-year range. it would not surprise me, this is trading 101. break out of range, goes to pryer highs, that's 20,000. to me, that's three or six months down the road. so bitcoin looks like it would go two to five times higher. is gold going to go to 4 is now 5,000? >> you're saying 20,000 in three to six months and 50,000 in 2021. and we've heard these sorts

of -- >> yeah. >> sky high forecast in the past, 50,000, 100,000, whatever, it's like -- and they never came to fruition. why this time? i mean -- >> well. >> -- people are skeptical. >> people may be skeptical. in march bitcoin was $3,500. it's already tripled. and a lot of those projections were, okay, this is going to be three, four years out. a lot of people have $1,000, $2,000 in bitcoin in 2017 didn't think it go to 20,000. when it goes on these runs, it goes further than people expect. i don't think it's outrageous when temperatures are it's alrea it' already been there. >> quick, gold or minors >> gold, gold, gold. i'll say it again, i've said it, i'll say it again you're going to wake up one morning, gold's going to be $200

people are going to be like what happened by the way, you're seeing it in silver to a certain can degree. and the miners have been ridiculous. we've talked about new pan american silver for months. those are just getting started despite the rhode island ridiculous move they've had. >> coming up, we'll dive into the visa trade and don't miss "mad money" fresh off earnings. the ceos of mattel and sky works. cahy ae, we sit down with kevin mcrtt 6:00 p.m. eastern time. but first, much more "fast money" right after this. apps are used everywhere...

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welcome back to "fast money." shares of visa in the green today as the payment gears up to report earnings. the stock support more than 30% off march lows and option traders are betting tuesday's report could pave the way for more gains. mike has the action. mike. >> hi, melissa. so we saw calls outtrade puts about by 3 to 1 today on above average volume. right now the market is implying a move b&f $6 higher or lower. 3% of the stock price, that's in line with the historic over rage over the course of the last eight quarters or so. weekly options saw the most opening activity where the 197.5 strike calls, buyers were paying about $2.70 a contract.

a lot of it was retail interest, it would seem, because the average trade size was about $4. they're betting that the good news is coming out of earnings and the stock is going to tried higher by the end of the week. >> thanks for that. for more "options action," tune in to thshe ow friday, 5:30 p.m. eastern time. up next, final trades. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ you may be learning about, medicare and supplemental insurance. medicare is great, but it doesn't cover everything ...only about 80% of your part b medicare costs.

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>> announcer: final strayed sponsored by interactive brokers. minimize your cost to maximize your return. welcome back to "fast money." we wanted to take a moment to pay tribute to a true "fast money" friend. regis philbin passed away over the weekend. and loyal "fast money" fans will remember he was part of our

family. welcome back. you're watching live with region us and melissa lee. that has a nice ring to it, doesn't it, regis? >> i think it should be 42 as well, but here it is meandering around 35. why? >> because i don't know. you got to tell me. >> they're going to need some help from faizer to keep holding this thing up. >> pfizer? >> that's another one. >> pfizer's going to make a move. i'm so sick and tired of hearing about what a great pharmaceutical is, when is the stock going to move? >> i thought i could take your advice for the summer. we're trying to get some young blood in at green light, some young minds, and i was wondering if you've want to come intern for the summer >> exactly what i've got, some young blood. but i've love to join are you yore david. i'm not kidding you. put that jacket on. >> regis philbin, you are an honor -- trader, you have won that fancy jacket. >> if i put the jacket on will i know what do with lis.

>> he's officially "fast money." >> you will wear that tomorrow. >> that's his acronym. >> i love it. i really do. >> we, of course, remember him for micron and molly cork and, of course, being a legend and a class act guy. >> he was, you know, you think about it, regis philbin came on our show in very early years. regis was, is a legend and he gave us credibility, he was so much munn ffun, such a gentlema. person you saw on camera, the same person off camera. obviously we'll miss him a great deal. best to his family and, regis, rest in peace. time for the final trade now let's go around the historiorn. tim. >> going to miss are you, region us. canopy growth one of the biggest in the business. had a big u.s. announcement on their hemp line. stay in this line of can that bus, stocks are going higher. >> rest in peace, reg.

draft kings, general milds convinced me on this one. i like it. >> jeff. >> i like it. well, sell boston beer, that move on friday was way overdone. gave back a couple of percent today, but i think it continues to do so, so sell s.a.m. >> guy. s>>at 8 is sat pillar and my mission is simple to make 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. welcome to cramerica my job is not just to entertain but educate and teach you. call me at 1-800-743-cnbc or tweet me dow gaining and s&p an