nice bounce and soft earlier in the session and similar to the yields act in the morning. >> exactly we do have this dynamic, where dollar index is going up with yields going down, it doesn't necessarily tell a consistent story in terms of what the macro driver of that is all the time but yes, that has been the case. >> i will be off tomorrow, sara will be back then. i have important market-based research to be doing, see you thursday hopefully with a smile on my face "fast money" starts now. live from the nasdaq market site overlooking times square this is "fast money. i'm melissa lee. tonight on "fast" amazon amazes, the stock soaring to a new all-time high as andy jassy takes over as ceo. plus china takes time, shares of dd and other tech stocks plunging as beijing turns up the heat. we'll break that down and later we've got a fast pitch coming your way, a guest trader is taking the mound to throw out

her best idea why she is calling this energy stock a health esg play we start off with a roller coaster ride for the ride, the s&p closing well off its low are fos lows of the day, the dow dropping more than 200 points and the nasdaq eked out a new level. what are yields telling us about the market here? dan, what do you think in. >> i think they're telling you that expectations got way too high at some point in q23 >> for the economy >> for the economy, reopening, global reflation, the fact there would be in some way kind of all happen at the same time and we're going to get to pre-pandemic levels and start to think about valuations on a normalized bases both pandemic we've been talking about this feels like every night since late march the bond market sniffed it out the bond market sniffed it out maybe the fed is right at least in the near term about inflation, maybe some of these pressures being transitory and

maybe second half growth is not going to be as rip roaring as a lot of expectations should based on first half. i just make one last point the last time the ten-year u.s. treasury year was at 1.35% in late february. the s&p 500 was 3950 so at some point the stock market liked the idea of rates going up, normalized to some degree. >> what happens if it means we entered into the pandemic, in a deflationary environment, that's more negative and worrisome for the overall markets than any type of inflation spike that we saw even if it was transitory, in my opinion. >> you think that's what the bond market is telling us? now? >> i think the bond market is telling you we're in a deflationary -- remember what i called it, deflationary spiral or actually you weren't here, courtney, deflationary death spirals and i withdrew the death from that term but i think we're in a real problem here

because this is not in a sweet spot >> the stocks aren't paying attention to that message. if that is the message, stocks are not paying attention to it >> i think stocks love the easy money and they love big tech fighting back but if we break down to 1%, i think everything is sold bar none >> but maybe to look on the bright side of things we close at record highs on friday for all three major indices and here we are, barely changed, guy. maybe this tells you this is goldilocks, just enough for the growth trade to stay on and maybe steep enough in terms of the yield curve for financials even those have sold out recently >> although i can't see you, i know you have that cheshire cat grin you knew by saying that you'd start the show off getting me all exercised and you're correct. you succeeded in your quest, so kudos to you goldilocks scenario i'm hard-pressed to believe it although the s&p 500 and clearly

the nasdaq are telling you that. steve is right on the inflation part kudos to dan, back fill down to 125 and looks like we're on our way to the points. i think steve is right in terms of deflation you have it in terms of technology, the biggest deflationary force in the history of mankind but there is inflation in all the wrong places i don't know how that is we can side the prices going up i don't think they're going down nearly as fast as they went up and i don't think they're as tra transitory as the dropdown is. >> the backdrop, karen, is earnings season a week or two away here. are companies, do they have incentive now to say everything is coming up roses in the back half of the year >> i think companies shouldn't give guidance. it focuses on the short term, but i think not everyone is on the same calendar year

we saw a few earnings recently which have been pretty good. the data is noisy so maybe this is the start of something this number we got today, ism services number but maybe it isn't. so i don't want to get too worked up over it. the market really had this kneejerk reaction th seemed to be somewhat overdone because we don't have enough data and i don't know why this number was so low is it because you can't get enough people to be open in your restaurants as much as you can handle the capacity, that capacity is constrained because you don't have enough labor. is it labor prices, so you don't want to hire as much i don't know i feel like there's some noise there that really could sort of come out in the wash over a couple of months of data so when i look at my portfolio today i'm not changing anything over it. what else can i buy? if rates are much lower that's not great for banks.

if the economy slows down, that's not going to be great for banks, but they're sort of getting more compelling and you know i've been adding a little bit but i'll add some more i'm not, i don't feel this is a wholesale change in where we are. i think that you could look at a goldilocks if that were, the way one wanted to look at something that okay, this takes the pressure off the fed and look, step back a little bit and squint we are nowhere -- this is not a disaster at all. this is a minor, minor, minor blip, ten times this would be, you know, that is a bigger blip. >> yes >> this is nothing >> i think karen makes a lot of sense. the s&p 500 down 30 bis and the nasdaq all-time high you want to look at the russell 2000, look at small caps, down nearly 1.5% today. i think they have unable to make a new high like the s&p 500 and the nasdaq seemingly over the last couple of weeks and a lot of the fears, one of the things

weighing on rates is the potential for second half growth and we're seeing it in some of those heavily cyclical, we know there's a lot of financials also in the russell 2000, so that has been in this range bound massively outperforms since we got the news on the vaccines back in november and spent the better part of the last six months going sideways unable to break out. that's selling you a little something and the last point we know the small caps are very domestically centric but that number, that factory order you can talk about services number here, that factory order in germany today was not good so the notion that we opened up first, that our economy is going to lead the global reflation trade, you got to look around. it brings me back to the post financial crisis where we had a rolling credit crisis, took years for to us come out of it as a globe and we might be seeing slower fits and starts around the globe >> that's a great point and i haven't sold my value bucket yet and the reason why i haven't sold is what is the bipartisan group left here, bridges, tunnels, roads, 5g

no tax increases that's the sweet spot for iwr. >> okay. >> it's real infrastructure, if you remember the pushback from the republicans was this was only 6% the real infrastructure. >> you're holding onto a trade a bipartisan package will -- >> all the names have doubled already so they're off their highs as dan pointed to but i think we're going to get one last blip of that push when the economy really opens up and when we get an infrastructure bill. not if, when i think we're going to get one and it's going to be a bipartisan one >> we haven't talked about oil premarket, oil was challenging 80 bucks a barrel. guy, that reversed during the day and may have given cover for equities what do you make of that pressure coming off in terms of the impact on the consumer but also being a headwind to the

energy, the winning energy trade? >> i'm glad you brought that up. i've been bullish. energy today was a difficult day to hold onto those things. what i'll tell you this, and we don't have it in front of us unfortunately although we'll post it, a 13-year crude cha are the in terms of brent trending up to a trend line back from literally 13 years ago, the steep downtrend line and carter worth pointed that out i think energy goes higher i think today was trading up the line and failing biggest one day move in the oil volatility index, ovx and i think it's an opportunity but a hard thing to reconcile given the fact we did trade up that level and fail >> in a world in which dan nathan lives and ten-year yields go down below what was it, 1.2%-ish >> yes >> guy, do oil stocks do well? >> yes, yes, melissa

yes. except -- >> except, again >> this is where guy uses the terms, doesn't know what kudos means but used it twice. he used the expression witch's brew, but i'll paraphrase for you, rates going lower, dollar firm going higher, okay, and that's the situation where it is really hard to make out because if you think back to post financial crisis when the fed starting coming, when they started tapering qe and think being raising rates, the dollar shot straight up the distributionie went from 80 to 100 and what happened over the next couple of years, crude oil went down nearly 70% we're in a situation where rates going lower, dollars staying firm if the dollar were to continue to rise for any reason, that would be problematic for the oil trade. >> you're going to get a reopening that is massive. you have the cruise lines, we talked about this, the airlines are all beating pre-pandemic bookings by a large extent >> peak holiday travel week. >> even before

>> what happens? >> after that, we still have the reopening, not everyone's back to work yet. we're an anomaly truth be told, there's a lot of people still sitting home watching the show. thank you. thank you. >> thank you out there for watching the show. that's true, though. with today's drop even the bulls are on correction watch. our next guest is bracing for a major pullback and sees the delta variant, julian emmanuel, looks like julian himself is also at home but working julian, great to have you with us, thank you. how big of an impact is delta variant to your view of the market >> you think of it this way, the market has struggled all potential negatives and the last several days have had the highest degree of mobility certainly in the united states since the pandemic began and what we've seen after spikes in mobility tended to be spikes in

the virus, so if you combine that with this idea that japan is going to stage the olympics later this month and what's really important is the potential reopening of the labor market in september, when kids go back to school, and at the same time that supplemental unemployment insurance runs out, you have a number of events that in our view the market is pricing very favorably and really doesn't account for any potential upticks in the virus that could sort of upset the apple cart of the series of events that we're about to have in front of us >> we started the show with a question, julian, what does the ten-year yield lowest level since february or so tell you and couple this with of course markets sitting pretty much at record highs across the board. what do you think the message is >> the messages are somewhat mixed and actually if you think about it, that is consistent

with the market that in our view is likely to take a pause within the context of a market that, looking at a year or two from now, is likely to be substantially higher than where it is. if you go back to when yields topped at the end of march around 175, what we saw was strong buying by international investors, into u.s. fixed income, essentially in our view because those are the type of people who really haven't seen the end of the virus crisis to the extent that we have, obviously vaccination has been very good in the u.s., and what we've had was in the wake of the fed's announcement at the last meeting that the expectation that there might be a taper, which sent the yield curve flatter, sent ten-year yields lower, which obviously haven't recovered from there, the combination of that and the fact that again, we do have a potential headwind with regard

to public health in the coming weeks has caused pressure on yields, we would agree with a number of your panelists have said, is that if yields start to drop significantly lower than this 135 support level, that's likely to be a further negative for stocks >> so julian, you and i talked about the cyclical basket months ago. where are you on the last waiver, the last push for small caps or value stocks per se? >> so we actually think, steve, again, the things that we're talking about are near to medium term headwinds that likely end up being resolved once we get through the fall, and certainly looking into 2022, and if you think about it, is that a bull market cycle, which we think began new a year ago, 15 months ago, and that could run as much as if not more than the average

154% gain of the bull markets of the last 100 years to us, the leadership is likely to be reasserted in the value names, in the deep cyclicals and in the small caps. >> julian, listen, i love your work obviously just to play devil's advocate, if the yeields were to fall, my sense would it be for mega cap games driving the broader markets. how do you wrap your head around a move lower with mega cap tech potentially breaking out to the upside >> you can certainly make that argument particularly if you look at the script from last year, because that's exactly what we saw, is that basically regardless of how yields were fluctuating in the near term, the reopening was delayed, money flowed into nasdaq, faang, et cetera we think the narrative is somewhat different, because if you think about it, what you were seeing was earnings growth

that was absolutely unprecedented, totally unprecedented, 30%, 40%, 50% in various stocks that's behind us, and if we got some sort offurther work from home type of situation, which again, is not our base case, we're looking forward to being back in the office after labor day, that is not likely to be the kind of tailwind for these stocks simply because even though they're secular earnings growers the best earnings growth, the true huge surprises are in the rear view mirror. >> your top areas, julian, health care, energy and cryptoexposed stocks crypto exposed stocks, aren't too many out there can you enlighten us as to what you mean by this >> just a handful. several publicly listed brokerages, obviously there's a company or two who's made public their own investment in terms of

their treasury in cryptoand what it comes down to for us we continue to believe and if you think about the inflation narrative in particular a story which we would agree is not finished at this point, if you think about that narrative, the reasons for owning crypto, diversifying the portfolio, whether it's the crypto itself or derivatives meaning equities, is very, very compelling on the long-term basis, again, we were not sort of taken by the momentum into 64,000 several months ago we also think similarly the recent weakness is a buying opportunity when we see this area as attractive going forward. >> thank you >> a growing number of top strategists are getting, are revealing what we think about the market's rally

cnbc.com/pro karen your thoughts been julian's market take >> well, i am not sure which scenario is more bullish, the one where rates are lower, 1.2 or 3, then multiple will be higher or if the economy heats up a little bit and the fed has to come back i need to think about tapering i am more in the camp that that will happen, which if it happens too quickly is bad for the high flyers, the zooms of the world, but for me, faang i feel like is a good place to be and big cap pharma good place to be also >> i would mention zoom. i just looked at three names i was talking about it before the show, shopify, zoom and crowdstrike are all basically 50% since their plea lows and what did we also see in this period, rates come off and i think really the market kind of agreeing with at least the fed's take on inflation near term and we've seen the fmaga complex blast out. amazon that breakout is one of the most epic breakouts on a

dollar value you've seen in the market, just a fact and apple got near its prior all-time high, microsoft, google and facebook are making new highs. that was the playbook in a low rate environment it's coming back coming back china launches a regulatory crackdown some of our traders own some of the names. what they are doing next but first, new developments, the key cyber cutyseri stocks to watch in the aftermath we're back after this. designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etfs, and crypto. that's better together. or pay down your sofi debt sooner. that's better together. and that's how sofi is helping millions get their money right.

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welcome back to "fast money. we're watching the cyber security stocks in the wake of the biggest ransomware attack on record eamon javers with the latest. >> the software management company at the center of this said only about 50 of its initial clients were directly impacted by the ransomware but all of those clients have customers of their own and those customers were then impacted as well the total universe we're looking at here they say is about 1,500 total businesses globally. 700 of those companies are here in the united states the company describes them all

as small and medium-sized businesses, examples include dentist offices, small accounting offices and local restaurants. we heard from the white house today, they are reserving the right to respond, melissa, here saying they're going to finish up the attribution process and if it is determined this is the russian government behind this, they say they will be prepared to respond president biden himself said he is still gathering detailed information, but so far what he's seen suggests minimal damage to those american companies. >> eamon, thank you. eamon javers guy, you were pointing out the monster moves across the sector today >> yes >> why are you laughing? >> we've been talking about them for a while. i mean, some of the names, crowdstrike is broken out, through the prior all-time high. zscaler is a name we mentioned constant over the last four or five months up against february highs and so is palo alto

networks in terms of zscaler up against the 230 level, huge potential for a double top i know dan is probably sitting to your left looking at a chart right now and will back me up as is palo alto networks. crowdstrike's broken out i still love the names probably a good idea to take a little money off the table in zs and panw >> you are right in terms of dan sitting to the left which is not news to the viewers but news to guy because he can't >> he's right to highlight that crowdstrike breakout and pan, maybe pa lo alto and zscaler ar on their way to to it. if you run in zscaler 160 to 225, you probably need to consolidate at the prior highs valuations are not a concern in these names and we have these hack after hack after hack five years ago we talk about target hacker, and these guys have a one-day loop. these are sustained loops, they

sustained the valuations for these names. >> it is amazing we sit here and read about revil and this is the second time they've done a major. we've had so many attacks. jbs shut down our meat industry for days >> to that point exactly all of these should be up dramatically. cr crowdstrike i agree with it has the best chart? space but fireeye is not an impressive chart, it's a lower high panw up 8%, actually up 10% for the year but zscaler slightly lower high, so i get what guy is saying but not convinced there either another one is a sleeper, sentinel one i don't think people are exposed to it enough that one looks like it has the potential to do something but to your pnt, the entire space should be on fire literally and it's not i don't understand why not >> we've got more ahead on "fast money.

here's what's coming up next pump the brakes. shares of dd headed in reverse as china continues its crackdown. buckle up. we're digging into the details, next, plus someone's lining up for a fast pitch we've got a guest who is ready to chart this next stock out we've got that and a lot more when "fast money" returns. keep us working remotely, is the same company we'll trust to bring us back together. cisco. the bridge to possible. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it.

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welcome back to fast money check out ride hailing app didi, falling 19.5 to close well below its $14 price. deidra has more on the drop. >> what ccused to be a home

court hang has become a home grown threat and the crackdown says beijing's priorities shifted. control in national security is important than the success of its tech champions other u.s. listed chinese companies tumbled after a rough year alibaba was under pressure in the session. investors may be wondering if baba is in the clear sources tell me that tiktok parent bytedance its ipo could be delayed until 2022 and valuation in the private market which i'm told is just shy of $450 billion could take a haircut. this all raises an important question for investors, and that is how much transparency are they getting when it comes to chinese companies? "the journal" reporting earlier didi was warned three months ago it should consider delaying its

ipo. it speeded up its road show. early investors were not aware of the warning and asking questions now. >> i don't blame them. karen, we had the same exact question, we had this conversation if that is true if "the journal" report is true and they were asked in some fashion to delay its ipo, should that have been disclosed to investors and was that in the s1 you did some digging >> right, i did some digging and you and i spoke about this earlier today. they had a very broad number of risks. if you looked hard this could be covered under that, that there are regulatory threats that could affect their business, that could prevent them from growing. there was sort of a grab bag of all kinds of bad things that could happen, and so maybe that would cover them, but if i were an investor on the didi ipo i would be upset

we don't know the full context of conversation. we don't know if there was something beyond maybe you should delay because it doesn't seem to me that a suggestion to delay is a suggestion. seems like it's an edict i'm not quite sure how that happened with those two things i would be upset if i were a didi shareholder i would feel misled even'language gives them cover, i would not be happy and certainly casts a pale over any future big chinese ipo >> right >> that you got to be concerned. all that said, i own one, not a big ipo. it was a big ipo, alibaba goes on big cap chinese news like this however, i look at evaluations, just the alibaba business, without any of their stakes in all these other things, without didi, without ant, even though

it's been emasculated, if that can happen to an ant, i don't really know. [ laughter ] all those things are not included at all in the valuation and under 20 times earnings when you back up the cash for a company that is just, you know, has an extraordinary presence. i'm staying long it is absolutely it's been painful but i feel like it should be at a discount. it's at a gigantic discount. >> i feel like that was the line of the night if could demass cla dem demasculate an ant >> she's on fire >> here we are down again for alibaba, guy, i don't know how you wrap your head around that, because there is this intangible out there still that is impacting the stock, regardless of what the valuation is of the parts of the company

>> that's exactly right. if you look since halloween by the way, when it was $319, alibaba made a series of lower highs and lower lows and quite frankly to break that trend, it's probably got to close above 230. i think if you're trading it, you'd rather buy the breakout above 230 or you're looking for a sub 200 print at some point. in terms of emasculating, you need a surgeon with really, really small hands, melissa. just the more you know type of stuff. >> very small tools as well. can you imagine? big options activity in one of these names. let's get to mike ko for that. >> alibaba, which is a name that trades a lot of options, traded over 400,000 contracts, due to the fact it traded more than two times its 20-day average put value and the most active puts expired, 202 1/2 strike puts, over 91 traded for about 56 cents and buyers of those puts

are betting that baba could potentially violate the may 13 low of about 206 i think and possibility targeting the 200 level guy was just referencing by the end of this week. you notice the options are not particularly expensive i don't think the options market is implying as much downside as baba as the other names possibly on the valuation karen was mentioning >> it's interesting, this is the 100-year anniversary of the communist party, seems like this is coordinated, flexing on capitolism a bit they're champions and we're close to capitulation as far as how far they'll go to kind of, i would say kneecap some of the -- well -- >> unless you're thinking -- no, no, no, i think you're making good points. unless you're thinking of the long game. the long game is to control the data of the country, because in the long run, this will get them ahead in the race in ai. >> what they're doing right now though is definitely a tailwind

to our markets because there's money coming out of these names and going into the u.s. mega cap counterparts and if we are close to that capitulatory moments, it could easily become a headwind >> in november, jack ma the founder disappears for a couple months if these guys want to do that, they can i don't think they'll use that out of the playbook again but we're probably pretty close to a bottom in some of these names. >> mike chouw thank you. "options action" friday, 5:3 p.m. eastern time. coming up amazon soaring to a new all-time high, how players are playing the record move. first a guest trader is throwing out her next best idea. find out if it is a home run e mewh "stnt thna, enfast money" returns.

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well come back to "fast money. there is one name in the energy

space that could light up your port portfolio. courtney ddominguez, what are yo pitching >> chart industries is a really good opportunity great way to play the rebound in the energy space in two ways first of all it's a great way to play your traditional energy, there is a lot of talk about renewable energy sources, however the traditional energy sources are likely going to be really the play over the next couple years and they have that exposure in both natural gas and energy but on the flipside, they also have renewable energy exposure you're getting both the new and the future energy sources by this stock and specifically in their renewable sources you have hydrogen and carbon capture which is intriguing because you are already seeing governments and private sectors increase our interests there and even in carbon capture you see things like exxon showing a lot of interest there, which is already a customer of theirs and interestingly enough, i think that's really going to be where the future growth lies is in their renewable energy why they

are expected earnings per share positive growth, 44% this year, 33% next year and 25% over the long run which is impressive you want to think of this as a growth play as opposed to income play they don't pay a dividend but utilizing cash last year even with covid your midstream sectors were on a rebound they were able to benefit and increase cash flow and take advantage and opportunistically take advantage of acquisitions in the hydrogen space putting their best foot forward into recovery. you'll likely see that in 2021 as they pay down debt and have more acquisitions. for all those reasons it's a good opportunity to look at in the energy space >> i like the cryotank is responsible for 35% of the sales. what makes me nervous and the question does it make you nervous that the top ten clients responsible for 40% of the revenue? >> potentially, but i think you want to look at this short and

long-term. these are big players who in the energy space who are their top customers but right now, you have some of their specialty products which is their renewable energies only about 20% of their revenue, expected to be as much as 50% of revenue by 2025. you'll see the big shift where that will change over time and why you want to look at this as more of a long-term play >> courtney, thank you no more questions here we'll vote are you buying courtney's pitch on chart industries? guy, what do you say >> you read my smart board for me, please, if you could >> chart industries is greater than sign chart house #cdom. courtney dominguez >> of course courtney dominguez, thank you very much. berents had a piece june 26th. i'm with you i don't know why you played the sad recommend to bone. 25% eps growth, reasonable valuation. >> karen, what do you say?

>> yes, i like it, that's an industrial gas holder in case it wasn't painfully obvious what it was. i like this story. i think it's a little bit expensive, but i think i like the spaces that they're in i like industrials it's interesting to me and maybe a bite size for somebody in for an acquisition so i like it. >> looked like a milk jug, too dan? i'm gutless with the energy trade but i like courtney's trade idea >> wow >> i look at the valuation, i look at the growth, what karen just mentioned, that customer concentration that you talked about with the $6 billion enterprise value could make them an acquisition target, too to me, i like the call >> steve, round it out >> it's a buy as well and i do like the idea if it starts to gain some attention from the investment community, there is a 10% shortage so kudos could someone else who said that >> and cue gkudos, courtney

dominguez, great job your turn america to cast your vote if you buying courtney's pitch in chart industries? we'll have the results later on in the show. shares of amc dropping in today's session, the company pulling plans to issue 25 million more shares, we're breaking down the details next miss a moment of "fast" follow the "ston" dct.fa meypoas jason, did you know geico could save you hundreds on car insurance and a whole lot more? cool. so what are you waiting for? mckayla maroney to get your frisbee off the roof? i'll get it. ♪ (upbeat music) ♪ ♪ ♪ whoa. here you go. (in unison) thank you mckayla! dude, get it. i'm not getting it, you get it. you threw it. it's your frisbee. geico. switch today and see all the ways you could save. when you buy this tea at walmart,

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w . welcome back to "fast money. julia boorstin is live in sun valley with the latest >> there's been big news in the streaming wars today and i and the ceos just got here in sun valley uniform film entertainment announcing a new deal to put its films on peacock just four months after they're in theaters, replaces a deal universal had previously putting films on hbo eight months after they hit theaters and universal picture also develop and produce exclusive originals for peacock as well. brian robert, ceo of comcast and

jeff schell just arrived as their company announces commitment to growing peacock, which is of course that ad supported streaming platform there are other streaming players in the spotlight here in sun valley, viacom cbs shareholder sherri redstone and reid hastings arriving i caught up with david zaslav. while he awaits approval of the company's merge we are warnermedia he's looking forward to talking to comcast roberts and nbc universal's jeff schell. take a listen. >> we're just about great talent and great content. we want to get this deal done but over time i think there's a lot of assets out there that have good ip that will probably find homes

>> reporter: in addition to looking forward to talking with roberts and shelby, he'll be speaking with warnermedia chief jason kylar whose role is not determined we'll have a great line-up of ceos in sun valley starting with hans vesper tomorrow morning on "squawk box. >> it was interesting he was interested to talking to the ceos of our parent company and parent unit. what could he have up his sleeve that would be a lot. >> it would be a lot roberts and schell don't think they need to buy anything right now. they were asked some of our investor conferences in may and didn't feel there was pressure to make acquisitions to get larger zaslav is talking down the road an opportunity to combine his companies with nbc universal

zaslav likes to build and sounds like he's not done yet whether schell and roberts are interested in that, that's to be determined they made it clear they don't think it's necessary to make acquisitions and the reality is, right now the main thing is getting this deal approved, it could be about eight months for the regulatory approval before we see the merger of discovery and warnermedia. it could be longer, we'll see how that pans out. >> julia boorstin, sun valley, idaho, for us. guy adami, the pressure is growing on all of these studio heads, all of these media companies to build out streaming, that that is where the valuation is accorded in the stock market >> no question about it. comcast new all-time highs, reasonable valuation, report at the end of the month people are clamoring for nbc sports they really seem to in this,

i can't believe i'm saying it but in the sweet spot of things. so good for comcast and that's a name you want to continue to own. >> the streaming platform peacock is ad supported so slightly different from the others that depend on sub subscsubs subscsubs subscribers and what analysts like about the strategy, dan >> and pat rah mount plus over the cbs viacom and the one probably on the block, $28 billion market cap $42 billion enterprise value they are building out. when julia was saying the names of the streaming things my head is about to explode. i just want the shows. that's what cable did for you before so these all got unbundled, everyone is spending billions on doing this they get rebundled cool your jets and search for your stuff and find your shows it's getting annoying, so zaslav saying there's more media profits and more son kohl dags it's not something consumer friendly if it keeps going this

way. talk about a good start to the jobs, shares of amazon hitting a new july time high as andy jassy aches over as ceo twitter poll, with you buying courtney dominguez' fast pitch? we're back after this.

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welcome back to "fast money. the e-commerce giant amazon soaring to a record high under its new ceo. the company getting a boost as the pentagon canceled its $10 billion jedi cloud contract with microsoft. steve, what did you make of this move >> it felt like there were a number of reasons why you could say money flowed in to amazon, it was coming out of chinese large cap stocks, the new ceo and the jedi contract. it felt like somebody leaked this story ahead of time this is just fine when the smoke clears up. >> karen, you were taking a close look at amazon >> i bought some amazon today.

i've been struggling with position sizing it for a while all right, it was doing well when the market was down a lot and gained steam the last half of the day on the gentlemen die news i agree with steve it's not that big of a deal to either i saw a story maybe they'd split the contract that is sort of not relevant i also don't think the new ceo is really going to change the trajectory it's possible but if i went home long, the same as buying it here, i don't have enough, let's buy some here. >> how did you wrap your head around the 60-something forward pe what changed >> it is a difficult one i look at the free cash flow and look at the valuation of their free cash flow versus others, it is high, the yield is low, the free cash flow mull tipple is high but not insane and when you compare it to some of the ones that i think are more insane,

that is how i get comfortable with it, it's not the most comfortable i've ever been but they deserve a premium multiple for sure >> last call to vote in our twitter poll, so go to twitter right now. do you think chart industries is a buy? vote we have the results coming up next of petsworth vetworld. business was steady, but then an influx of new four-legged friends changed everything. dr. petsworth welcomed these new patients. the only problem? more appointments meant he needed more space. that's when dr. petsworth turned to his american express business card, which offers spending potential that's built for his changing business needs. he used his card to furnish a new exam room and everyone was happy. get the card built for business. by american express. sometimes, you want speedy but reliable. state-of-the-art but dependable. in other words, you want a hybrid. so do telcos. that's why they're going hybrid with ibm.

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the chart industries the traders all voted for it but the twitterverse wasn't thrilled 56% said no. thanks time for the final trade, around the horn. karen finerman >> courtney, we're cwith you sorry about that, don't let you get it down. i'm going with amazon. >> guy adami >> i met a huge melissa lee fan, judy twitter, mel, twitter for you. twitter. >> steve >> apple, still long it,

starting to react affirmatively with pricing, apple buy. >> and nathan? >> via com, sun valley going on, i expect we have a lot of heat about that this summer look at that >> see you back here tomorrow for more "fast." "mad money" with jim cramer starts right now 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 other people want to make friends. i'm just trying to make you some money. my job is not just to entertai but to educate and teach you so call me at 1-800-743-cnb or tweet me @jimcramer. rather than freaking out at today's market -- >>