commodities, all of it fit together interestingly, weakness in the dollar has been associated with a massive fiscal push. that was not part of the story today. it seesks a risk-seeking move. >> it's a global liquidity barometer. bank of england was the latest, australia eased. everyone expects central banks to be in it. we're out of time here more analysis coming up now on "fast money." good evening, everybody. i'm in tonight for melissa lee this is "fast money. tonight's trader lineup, guy adami, tim seymour, karen, and steve grasso vote counting continues, plus we're tracking the after-hours action many on the move on earnings we'll bring you the later. bitcoin bracking out in a big

way. what sent the cryptocurrency sit to its highest level in nearly three years. we start tonight with the story that's front and center for investors, and all of americas right now. that's the vote counting under way in five key battleground states plus alaska eamon javers has more on where things stand at this hour. >> we haven't really moved all day today, as all the vote counters around the country are doing their jobs biden 253, trump 214 in the race to 270 joe biden has more paths to 270 now than donald trump does, but it's not over for either man let's start with arizona you can see where we stand in that state they've been giving us new data throughout the day that is 11 electoral votes

available there. nevada was giving us data throughout the day still too close to call with 89% of the vote in in nevada georgia, another state where we're seeing an interesting move by the biden camp, making a run at a historically very, very red state. 49.5 for trump, 49.3 for biden a difference there, look at that, a difference of 9,525 votes. that, tyler is a squeaker, with 98% of the vote in for the state of georgia and pennsylvania has given us a bit of additional data too close to call there. 50.1% trump, 49.7% for biden that difference narrowing, under

100,000 left so a tighter and tighter rate in pennsylvania that is the big one in this scenario if biden were to capture pennsylvania and the pennsylvania authorities say they might be finished counting tonight. if he could continue to make up that lead, this race is over absent that, the counting continuing and the drama continues in all these other states. >> in the commonwealth of pennsylvania i believe mr. biden is winning 77% of the mail-in ballots versus 22% or thereabouts for mr. trump. the georgia story is fascinating. it looked nothing like this a couple days ago. it looked like it was really sewed up by mr. trump. >> we saw the blue shift playing out in georgia and pennsylvania, where the mail-in ballots, those tended to come in for biden, right? a lot of the mail-in folks were joe biden supporters who believed in covid, trusted the u.s. mail system

the trump supporters were generally skeptical of covid and skeptical of the u.s. mail system now we're seeing these different buckets of votes look very different. we're seeing some frustration from the trump camp -- we saw joe biden urging calm, urging patience, and we're seeing some trump family members expressing frustration, demanding to know where is the gop and seeing an interesting split here sean spicer on a radio program earlier today, the president's former press secretary, breaking with the president, disagreeing on the issued of whether there's any fraud. sean spicer just saying he hasn't seen it, and it's not right to throw out the allegations unless you have evidence the president is saying there's fraud out there, bus his supporters have not delivered specific evidence of that. two of their lawsuits so far today have been thrown out in georgia and michigan

eamon, if you hear more, i know you'll ring us. >> you bed. another big day, as we await a winner in the presidential race stocks brushing off all the uncertainty and rallying for a fourth straight day. it is now up 7% for the week, and get this, the s&p has rallied more than 1% for four consecutive days that hasn't happened in more than 38 years. technology the top performing sector today, this week followed by healthcare, telecom, consumer discretionary. so stocks are surging. guy adami, what is the message of the market in your beautiful living room? >> i'm going to answer that, but i'm going to say something here in the united states we don't live until the rule of a king or queen, but we have royalty in our house the next hour that comes in the form of you have, young man. thanks for hosting tonight what is the market seeing? steve spoke to this, i know tim

has spoken to this it's not necessarily the main event, it's the composition of the senate i think the market is really happy with how things -- >> to that point, when there has been divided government, the stock market, tim, has generally done pretty well and better, by the way, under when it's been a democrat president on average, and he's been opposed by either one house or two houses of congress that may have been skewed by the clinton years and then the obama years where the government was divided, but the stock market did well tim? >> yeah, i'm sorry, tyler. welcome aboard >> thank you. >> i think you're right. there's some irony that the market, which was the trump report card is playeding a potential change here.

a function of not only there had been fear of capital gains tax and some very big selling in the tech sector, which has had a lion's share of the gain, but also slower growth possibly from less stimulus, from less growth-oriented policies biden, if he is president elect may not have the same mandate and therefore may be tougher to grease the rails of the economy. that's part of the explanation the weaker dollar, which is back near, again, two-plus year loun lows, was there to support all the parts of the trade that didn't work yesterday. the fed is out there today, it's amazing this was kind of a, you know, a side event that didn't get a lot of attention, nor do i think the fed wanted to upstate an election process. very important that the market has moved 10% effectively, 10.5% on the nasdaq off those lows from thursday, in effectively four sessions.

that's some market participants need to think about. this has been an extraordinary move i had expected more of a pullback in the nasdaq semis broke out to fresh near highs which has on which augustered a higher market, but i would urge caution. >> steve, where do we go here? apart from what happened, it was not a particularly great night for the democrats. it looks like they were not going to get the senate, and they lost seats in the house. >> right i think where you started this off was correct. the market expected a blue wave. didn't get a blue wave so the market overshot, thinking that we were going to get the sell-off intact. at tim said, you were going to get a doubling of the cap gains tax. everyone who had the huge gains were going to sell them before the end of the year, no rhine to

hold on to them. now when you get the senate that doesn't roll blue, everyone has some time to think about what they're going to do. you're not going to get $10 trillion in spending from the biden camp we're not talking about the green new deal any longer. you're not going to get breakup of tech companies. the market is dangerously close to a triple top in the s&p, but i think it was a relief rally. if you go from the relief rally to a bit longer in the tooth, i think you have to look in the senate you have two seats that the democrats are going to push for a runoff if they win both those seats, then you get a 50-50 tie in the senate who breaks that tie, tyler kamala harris, so now -- i think the market is getting a bit ahead of itself and maybe we won't get the a-50 senate, about

you it's something to think about. >> karen, tie up this conversation for us. what is the market saying? and is this a rally that could endue? remember when president trump after the election four years ago, the market took off for weeks. >> yeah, i think the market is say we're closer to clarity, that's one thing, sort of sell the rumor, buy the news of there being noise around the election, but the other hing, as everyon else has said, is the senate what do all these stocks have in common they've been growth or value, all of them went up. what they all have in common is corporate taxes. so, with the senate, more likely being held on to by the gop, i think that corporate taxes are the thing that drives a lot of this, because they all have that in common. that would be a big turnaround from the expectation that raye rates were going to go back to --

>> let's bring in our next guest. he says the election unknowns will begin to weigh on stocks. mark, welcome back good to see you t hi, tyler. >> i feel like the substitute teacher tonight, and these guys are behaving well. it won't take long before they misbehave, but be that as it maybe. you're more skeptical on where the market may go from here. you think the s&p trade is dangerous, large-cap and large-cap growth explain why. >> i think the math is simple, right? we went down in the two weeks leading up to the election we have recovered that, which is normal standard fare the dow was a litt-- down was ae worse. growth is negative, global trade is down. spending wave is not coming.

i think there's a lot of reckoning. all of the gain this year is multiple expansion, earnings are down i think you need to be very cautious about equities. inch i see steve on, let's stip -- isn't that a signal that the market thinking the economy is going to be really good next ye year. >> not at all.

it's the -- when people are extrapolating those lows, and getting silly numbers. the problem is the fed model, based on interest rates breaks down, so i think that's a fallacy. go to main street. there is pain on main street around this country. we have lost 15 million jobs, and probably many of them not coming back. so the idea that there will be a recovery next year no chance. >> i don't disagree with you, by the way. i took a ride last night going to my son's last baseball game, and i was on a corner in bloomfield, new jersey and seeing the space for rent

signs all over it was absolutely a tell >> so the quick question is i think china is the big winner here, but do you think a president biden is going to be pushed than you ordinarily would be >> this is a great insight, and there's no question that we have always needed an enemy, an adremember sear. china is the easy one right now. i've been talking about this with the team on "fast money" for the last year or so. ten years ago, we made a decision, the u.s., to be great in social media, and we are awesome at instagram and facebook china made a decision to be great at 5g and a.i. that's what's going to dominate.

we're seeing it all around the world. people are choosing to side with china on the 5g standard the bad news is we will end up with two internets that's less good for productivity, and less good -- so hating on china is going to continue you're absolutely right a red senate will push biden to be a little more hawkish than he would otherwise like to be, but i say this all the time -- china is playing go while we argue about setting up the checkerboard it's why they have outperformed the past three, four years. >> you mean tiktok videos and instagram reels showing me how to shuffle dance is not going to rule the world >> you know, it's important, tyler the last time we were together, and it's been too

long, and i'm sad, when we were on area at lunchtime two years ago, we issued the morgan -- over the -- million for charity, just like the buffett bet that bitcoin would outperform the s&p. i'm still standing by it and it's got a long way to go. >> and a good day for bitcoin. >> thanks for very manage. >> tim, final thoughts here? >> tyler, look, mark brought up the rest of the world, and you're starting to see a breakout in certain markets that if anything had been waiting for a breakout -- you've seen some of the eastern european moves

and even seen the european market catch a bit i think the strongest growth is cupping from the u.s., but the global marks and the breakout i think is something that investors should look at. >> hey, whoa, whoa, you've got an earnings thing? >> no, no, finish your thought >> no, you've got your son -- 5% chance your son is watching, and hello, young man be happy you got up to the plate, you swung the bat >> you should have seen a curveball from a left-hander just buckle his knees. it was something else. it buckled my knees, too, way back when. we have uber, at the company as conference call is under way. deirdre bosa is following the news and has more.

that could make that target more different to attain. >> while we recognize we still have enormous opportunity for growth, we're confident we can lean in and turn delivery ebitda profitable sometime next year. >> so, as our traders well know, adjusted ebitda is the measured profitable that uber likes to use. we did see some improvement there, but if we go the traditional route, net losses, uber has burned think $5.8 billion this year. he is alluding here to the opportunity of food delivery amid changing habits and the pandemic, but also -- with the likes of doordash, and grubhub,

now, on prop 22, the q&a session is under way lots of questioning about prop 22 costs, of course is the california regulatory win. he's acknowledging it will impact rates, but does not think that would impact demand. >> dedreirdre, thank you. what do you think about uber, karen? >> i think they're trying to do the right things i think delivery, that growth was very impressive, clearly in a pandemic situation like we have, it's very hard for the more traditional uber business, but think about it the stock is not that far off from where it debuted. that was a very different world we lived in, and they have done a lot of things right. they have gotten their expenses under control, but it still is not to me a valuation where i

would feel comfortable i think we'll get past this part i think people will start using uber again in a year or so, but to me it's expensive so i'm an uber user, but not a shareholder. >> guy, how about you? you have a major double-topo tenchal. >> guy, thanks very much we're going to take a quick break. we have earnings alert peloton is in the cue, ea, square, all four stocks are on the moment after hours

first, a major update on the coronavirus, as america hits a new record number of cases meg tirrell is standing by with the details when "fast money" returns. you doing okay?

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kell wonderful back. hi, meg. >> this was a milestone that folks like dr. fauci had been warning about since the summer yesterday we reported 103,000 daily new cases in the united states on seven-day average we're up to 89,000 cases per day. hospitalization rates are rising here in the united states is where the infections are spreading the fasters. in the red, where you're seeing more than 500 new cases per million people, but really the spread is happening everywhere

particularly in stales in the south. now, we are starting to see, of course, lockdowns across europe as they're seeing incredibly concerning numbers england start ago month-long lockdown today france started one on october 30th germany starting one on november 2nd. italy as well. this, tyler, as the united states is still behind europe and uk on per capita cases the green line is us in the united states. the trajectory we're on has health experts extremely worried. carlos del rio from emory saying we could hit nearly 200 now new daily cases by thanksgiving if we continue on this pace. >> i was trying to look at the graph there one more time. we were the greenish arrow, so

not as many cases per million people as europe >> exactly on a per capita basis, we are still beneath europe and the uk, but our trajectory is starting to head in their direction folks like dr. gottlieb has been warning that we're about three to four weeks behind europe. >> the slope of the line is steep. tim, let's turn to whether the market is paying enough attention to the rising case count. what do you think? >> it's completely an anathema to what we were doing the first time through bond yields are more of the story. they started plunging really in mid to late january before the stock market did it's not that bond yields have fallen out of bed to the down side and plunged, but no question what we're starting to see is at least a bond market that is a lot more concerned

about the trajectory here. if you look at certain cyclical sectors, you know, it's hard to make the argument that the market is reacting in fact it's extraordinary that the market seems tore more focus odd on the election and fed dynamics than covid. i don't think investors should take their eye too far off the ball here. what was most interesting is transportation stocks, some of the cruise lines, some of the airlines were actually rallying today, but this is not a story that's getting better, the trajecto trajectory, as you said, is not our friend. folks, we're going to take a quick break. solar stocks are lighting up are more sunny days ahead? first, check out some of the tonight's big movers we'll have more after we return from this short, short break

welcome back, everybody, to "fast money. busy night on the earnings front. check out the moves. our ace reporter team standing by diana, you get to go first with peloton. >> yeah, tyler, yet another strong beat for peloton on both eps, and full-year guidance. they continue to see strong growth in subscribers, up 137% annually, and paid digit at subscriptions, which is the app up 382%. all that said, though, the ceo

john foley started the earnings call on a much lower note, expressing regret over long wait times for customer service, due to supply chain problems, fires in the west as well as unexpectedly strong demand for the bike plus. it pains us. wait times have been unacceptably long. to address that, he listed four actions. first increasing manufacturing, then invests competent dieted ships, including air shippings. increasing the member support team, then giving future members complete transparency on the website that delivery times may be longer than they might expect that's likely why the stock is trading lower after hours. >> diana, thank you very much. guy, let's turn to you i've heard friends tell me they've waited three, four months to get a peloton.

i guess my question is, are peloton's best growth days be hind it? >> yes, but churn rae was below 0.9% the revenue beat was tremendous. eps beat is tremendous they're probably running the business better although you can't have in sustained growth, i don't think the best days for the stock are be hind us growth maybe, stock no this move makes sense in terms of where the stock has been. i think you buy it again if it trades down to 110 >> i'm a user, you own one i think it's good, but is the

idea that -- the idea -- other companies can come in and do what they do >> that's a great angle, when you talk about supply chain disruption that puts people really off on buying it for the future this is a shelter in place play. i know guy loves it, i know you love it. people who have it and can get it in their living room, do love the equipment, but when you look at where it's gone to, it's definitely a play on shelter in place. i think we're moving closer to a vaccine, hopefully if that is true, then i think you'll see the high flyers like a peloton come in. they ran out of gas way before the recent high of 139.75. i would not by a buyer right now. i think it's going to come back down to the 50, which is $104.

i would way, hands off it right now. >> guy, what did you say the price point where you would start to snap it up? >> 110. >> i understand what steve is saying i see that price as well i'm sorry, i can't see you ty, but i already know you're a stud you don't need a peloton. >> you're flattering the substitute teacher. next up, check out the moves on they two gaming stocks, electronic arts and take-two josh lipton has the numbers. >> i just checked in with andrew appear oppenheimer on e.a., he says numbers were basically in line with company guidance, but lighter than what investors want ed first-ever dividend, but andrew is saying investors want acquisitions, not issue a dividend

activist, take two andrew says has better i.p. call he called the depth and breadth of the portfolio, the fifa franchise, and i apex legends, its answer to fortnite, but clearly investors disappointed here also spoke with andrew about take two he said strong quarter, got ahead of the street. he says it bodes well as we now come into the prime months for gt and -- on the take two call, they were saying positive momentum, he called out certain titles, saying they are prepared and thrilled to take the next step of the next-generation game consoles the appetite for gaming zelnick is saying, has never been stronger. >> never stronger in my basement my son is a big nba gamer.

>> maybe that's why he's striking out, he's playing too much video games i'm just kidding take two is in-line. nba 2k, forth of all we had athletes playing it on espn during the worst of covid. gaming is in the sweet spot, especially consoles. on the ea side, this company is paying a different come on, this is a growth company, a story where fifa has been delayed, apex legends apparently is losing some lack, the madden nfl story was very positive we got good read into the august numbers, but this is disappointing. these numbers were not great they were more or less in line, but slightly weaker. the outlook sunday that great. i'm a shareholder. >> kate rooney has been waiting very patiently for this moment square is on the move after the late it's report kate, tell us about the results.

>> last but not least. a strong quarter for square with a huge beat on earnings, stocks up more than 5%. analysts i'm talking to are by far more excited about it. the gross profit jumped up the average daily transaction in customers doubled from a year ago, and uses it for two or more products are three to four times more profitable. the stockbrokerage on cash app sawed it -- the call is under way right now. ceo jack dorsey with bullish comments on bitcoin, calling it the native currency of the internet, to put roughly $50 million on the company's balance sheet. finally square's core seller business, that is recovering modestly

seller payments from the in-person transactions rose 1% that category, of course, has been hit the hardest but cash app and e-commerce are more than making up for it. karen, what should i do with that one, square >> square i thought was expensive, but i think up $7 with this earnings release is better than it was yesterday before this. the magnitude of the revenue growth is just stunning. at kate said, the cash app, it was really incredible. the engage month, the ecosystem. the only risk i see, the stimulus was good when we had the first ppp, and maybe that cools off also, but a stellar quarter. >> karen, thank you. we have a lot more ahead here's what's coming up next. >> announcer: alibaba shares have lost a bit of their magic

this week. is the sell-off overdone we will go hunting for answers. later, options traders taking a real shine to the gold trade today. what one trader is betting on fothe nir ming stocks. we have that and a lot more when "fast money" returns ♪ ♪ ♪

shares of alibaba sitting out the rally today. this time earnings are to blame. it matched revenue targets, beat the earnings estimates and reported 60% growth in cloud revenue, but that was not enough, it seems, to impress investors. karen, did it impress you? >> it does impress my. it was down maybe $15, so i bought more today. it was light on some core commerce that i think was part of the disappointment, but annual active customer, mobile mau, both of those really strong. the cloud business is really strong to me it's an amazon creation all over again between e-commerce, cloud, grocery, entertainment, advertising, logistics business, all of that together they do have financial, which we

know is a very difficult thing this week, and that is real pain, but the symptom -- the valuation at this level i think is very attractive i was a buyer on that disappointment today >> tim, why the long face on alibaba today? >> i think people were bummed out on the margin side you can't be they're verying in their business, think of all the times we bead occupy amazon. this is a land grab, if you think amazon has benefited from covid, what do you think alibaba is doing in asia in i think the valuation relative to megacap tech i think is the next most interesting story. i think that's the story you want to follow -- that is the story you want to follow i would not be put off the and financial news this week knocked people back on

sentiment. that's two yays for alibaba there, karen and tism. thanks, guys gold glistening today and options traders are betting on it plus a renewed trade in the renewbles. what lit up the solar space. we're lit, back in two how do you find companies that are driving the right outcomes? if you care about economic equality and social justice, which firms are addressing it in their workplaces and their communities? for nearly 40 years, calvert has delivered competitive returns by investing in companies making a difference because we see value in doing good. talk to your financial advisor about investing responsibly with calvert.

welcome back to "fast money. let's get to mike khouw. what did you seize, mike >> we saw the gtf, more than double the averages daily call there on that. where we saw a lot of the activity, this is implying a move by year's end, it was in the january 45 calls, included a blog that traded for $1.40, and betting that the gdx could rally by january expiration, which is less than three months ago that isn't the only bet we saw we also saw bullish bets,

december specifically -- we also saw bullish bets, betting on a 5% to 10% interest, and 15% or more by january. >> mike, thank you guy, what do you think of gold, and how would you invest in it if you do like it? >> if you want to play alreadied plays, it's in the mining stock. we want to be in the etf, either gdx-j, the junior miners or gdx. but there's been two headwinds, the broader equity market which sold off in a meaningful way moving of that magnitude are not bullish for precious metals, and the dollar gold is off to the rateses, in my opinion the fed seems to be willing to torch or currency, and yes, i used the word "torch." that doesn't seem to be stopping

soon i love what coco beware put out there. go ahead, tim. >> i agree that gold is going higher, the august 7, 12075, something like that will get taken out. i don't think it's until next year when the dust settles, whatever tools they have left, they are keeping rates low and fighting deflation, nots inflation, as far as i'm concerned they have this mixed up silver has under -- starting to get interesting again. >> steve, final thought? >> yeah. >> gld is up 25 year to date usually the miners outperform the metal by two or three to

one, they're not doing that just yet. i would look for gdx to trade up quickly, i agree with mike, coco beware. for more options tune in tomorrow at 5:30 p.m. eastern. they bet big on renewables, but first, how about some pizza? jim cramer will chat with the ceo of papa john's be sure to catch that interview at the top of the hour with "mad money. we'll be back right after this o, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn

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solar stocks bouncing back steve, what is behind the move higher today is it a biden bounce what >> i think it is a biden bounce. if you look at the biden-related stocks did not perform yesterday. you would expected them to rip immediately. i think they took a bit of a lag. people are trying to reassess

and see where the money is going tore spend, but t.a.n., that's the etf no solar, better than risking it on other names. the etf is up 119% year to date. you don't have to worry about single-stock leverage, so i think t.a.n. is the way to play solar, especially in a biden presidency. >> is that the way to go usually it often is. >> i think steve has nailed what you want to do in solar. first of all historically they have levered company, bad balance sheets, so i think that's the call. the call today was also some sense that the senate might still be wide open for the blue. that's not my call, not what i'm

saying i'm saying that's what the speculation was. it gave a lot of folks an opportunity to latch onto the trade. >> i guess you say the door is ajar for the democrats to snead in and make take the -- china is all in on it, and that's the way it's ultimately going to go. is it too early to put the chips behind that bet? >> i think you're right. we didn't get to it with gm today. they're trying to be ahead of that game. i'm not sure how long it will take to get there, but i think that that is the future. it's starting now, so if you know gradually at first, then all of a sudden. so i think you've got to be in that space. >> karen, thanks very much

up next, the falin trades. we will count it dow jonn. we'll be right back. as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected.

welcome back, folks. time for "the final trade. tim, you go first.

the powers invested in me allow me to pick >> wow you deserve all the power, tyler. alibaba deserves a very strong look here on a pullback. i think you get the best growth for the money. i'm long. >> alibaba. >> mr. grasso? >> a name i talk about a lot, about 43% in the last month or so i'm looking for it to trade up another 43% pretty quickly, tyler. i'm in the name, staying in the name. >> what is trinsea what do they do? >> chemical space. >> comb cal. >> this is your biden play as well this is a value play, where you're looking for, one of my plays that i pitched to kelly the other day. >> without chemicals, life itself would not be possible karen? >> i'm long a bunch of faang stocks, but it feels frothy, so i shorted in etf software.

it has some are more growthy names, like a zoom, staying with the faangs. >> five seconds. >> fire eye, you . my mission is simple, to make you money i'm here to level the playing field for all investors. there's 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 i'm just trying to make you some money. my job is not just to entertain job, teach you, so call me at 1-800-743-cnbc or twee