hawkish or worried about inflation could be unsettled. >> energy markets have taken the rising expectations in stride. record closes. >> we're out of time on "closing bell." "fast money" starts now. >> live from the nasdaq market site overlooking times square, this is "fast money. i'm melissa lee. tonight he's trader lineup, tim seymour, karen fiberman and dpan nathan and new details on the ipo just crossing, the ev maker planning to sell between $57 and $62 a share. we'll break down all of the details. plus digging in on deere after the company strikes a deal with a major union. but could there be more upside ahead. and a glitch in the metaverse. shares of road blocks dropping offer a system wide outage over the weekend. but we start off with another

set of records for the market. the s&p and dow and nasdaq closing at all-time highs and the s&p grinding the way to the 60th record of the year but without the helptechnology, like alphabet, microsoft and apple, and what did work, check out moves in macy's kohl's and gap and nordstrom. energy posting the biggest gains let my oil so what do you make of this market action. dan? >> yeah, i think it is pretty fascinating. you mentioned the move or the lack of participation in mega cap tech you have to go back to the first quarter of the year with the ten year was trading 1.77% at its high up from 1%. what was lagging at that point it was mega cap tech there was a move into more gdp sensitive sorts of names and that is what we saw here today but i'll also tell what we saw

here today is something i don't love so much the move into high valuation names that don't have a whole heck of a lot of profits and they just really squeezed the heck out of them today so to me i think there is a push and pull there, move out of that because of the expectation of rates but most important thing i'll say is where is the ten year right now it is not back at those highs right now. especially as we have equities much higher than where we were, back in march when yields were at their high. so difficult action here as we head into this fed meeting in a couple of days in my opinion >> brian, is that how you see things the other way to look at it is we're at record highs, investors may be look to cash out from gainers and market leadership, looking for pushing the envelope in a sense to look for gains >> yeah, i mean, listen, i still happen to believe we're in this melt up kind of mom and pop

retail driven market and it is typically, i'm not saying we're at a top, these are the type of things that happen at a top. so i look at economics and what the bond market is telling me, it is telling me there is going to be inflation and most central banks will panic into raising rates and that will cause a slowdown but sold was a little strange because that is the theme for the last couple of weeks but then we got news that seemed to be better today. looks like production is kay what i market is starting to price in is that the supply chain issues will go away and the fed is on top of inflation and let's throw away this quarters, fundamentals don't matter and let's buy stocks and that is what people do to me this is where you want to start taking profit into the rallies, rather than buying into this as a long-term investor. >> that is interesting because i know tim you've been watching this, all of us have been watching this fed funds future increasingly pricing in a first rate hike in june. as opposed to just a few week as

ago when it was unlikely now it is a more likely scenario. that is changed in the psyche of investors. >> well central banks are made around the world this week a couple have already met and we talked about those that have already moved an the yield curve moves in asia that are extraordinary. so what is the market doing with that they're taking as you said, the short end of the curve so where you're pricing in your dots, your dot plots have changed and moved in you're also seeing maybe the ten-year and the longer end of the curve come down because people are pricing in central banks that will squelch some of the growth on monday, when we hit all-time highs, it doesn't feel like that even though we're bracing for cen central banks that know they're behind the curve and they're not going to admit that. up 7.8% in the last 20 sessions to melt up this is one of the hottest

points we've seen markets at least on a run in many junctures along the way of what has been an incredible run for the last couple of years. this is as good as we've seen. we have a vix depressed and not a lot of risk is being priced in and the sense is that, yeah, i think there is seasonal factors here but if you look at a day like today, dan pointed out mega cap tech, you are not seeing the banks participate. it seems like the meme stocks an the retail names that is as good as a run as it has been for department stores, valuations are not cheap here so be cautious with the move so far in markets because it is been extraordinary by any measure relative to itself. >> we were talking about the 12:350 call and when does black friday tart. for others it is around this time sometime after halloween and here we are with all of the retail names do you think part of this is

seasonality, that push to year end, the notion that people will be buying into the holiday season, the notion that people will be pushing the markets higher overall >> i think so. i think also on the retail front, though, normally we wait fock black friday, i think there has been such an effort by retailers to say hey look, we don't know what our inventory situation is so you better get started right now. so i think the retail numbers that we see are going to be strong and maybe that is a pull forward from -- tim is the ultra procrastinator so he's waiting for the 11th hour but there are some people who will move earlier. i think we'll see that what i notice, in the industrial world if we're pulling forward a lot of inventory growth because the supply chain is telling us that we can't operate, we have to have more of a cushion an so part of what is happening the supply chain, to be in a position to have a buffer and

when the supply chain issues are over, people are stuck with more inventory. that is a problem down the road. i don't know what is going to happen for now, given that the tax changes, corporate tax changes seem to not be on the table in a big way right now, that is probably a positive as well. so like brian, i'm nervous in this everything is great i want to look for maybe buying some protection. i'm not going to trade around my posi positions just because of the market but i do trade around protection. >> i think last minute for tim has been dwayne reed, the day before and not that there is anything wrong with buying from dwayne reed, it is the thought that counts but with markets at record highs shouldn't we worried about down the road today versus whatever that might be. >> frankly i'm a bit surprised that the market isn't starting to price this in because everything that we're talking about is known information we saw in the last gdp report that a lot of that increase was due to inventory buildup and so

it would just be logical that that might slow down so i am i bit surprised. but i'm the type of guy that, you know, will shop in january of last year for christmas and unlike tim who got me an applebee's gift card last year knot that there is anything wrong with that. >> dan, have you thrown in the towel on the the santa claus rally or do you think that we're in place for one despite what you think of the fundamentals of the economy? >> yeah, i mean generally i'm not one of the people who worry much about valuation because when it is working, when the market is going higher and it is lifting all boats, people are not particularly worried it is only after the fact. and i would say this, if i look at a couple of things that we don't focus all a heck of a lot on

so the disconnect for me is why isn't the 10 year treasury yield higher than what it is now you could tell me about the two ten spread and we spent some time doingmarket move and they' approaching the prior all-time highs. >> our next guest warns the market record momentum could stall around thanksgiving. mike wilson is from morgan

stanley. it is great to speak with you. >> thanks. >> you're note fire and ice and wore entering that period. what sparks that. >> this is a difficult time. we've had this fire and ice narrative now for a coup o we h% correction and we backed off on the the ice portion kind of at the beginning of october because the market stabilized and we do a lot of work looking at flows likevestee

holiday period, the santa claus rally as you call it and we think it could last through the year it might last until thanksgiving we don't know. but i want to make clear in our notes is the ice portion of our narrative has not played ourt yet. so we just have a different view than most people we don't think growth is going to reaccelerate into the first part of next year, particularly for earnings, for a lot of the reasons y'all were just talking about. one is supply chain issues an costs and many companies are missing sales out right because they can't get the supply and that is another problem. but we think there is a demand problem ultimately as well there is a little bit of a fiscal cliff, no matter what happened in washington, just compared to next year and we have to work through all of that it is not the end of the world expectations are lofty and valuations are stretched right now. so we think that that ice portion is going to play into the first quarter.

it is always about picking the right stocks and seccors and that is with we try to do and that is with we try to do and right now we want to lean a

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wb to "fast money," we have an stock up 80% year-to-date. but first the earnings showing growth in the core business despite the broadening of e-commerce occupancy and minimum rent per squaremates and simon is

raising the dividend a 15% year-over-year for this quarter and that stands under 4%, double what you get on the ten-year and increasing 10d yiee important to these companies and so a 15 cents per quarter dividend increase at 4.5% of the dividend yield gets you the, i don't knm curious how the talman

properties are doing versus the simon properties i didn't see if they broke that out. but very stron out >> and by the way, the properties at the end of the second quarter were ahead of 2019 pre-covid levels so i thit the trends are live and the 4.5 on this company is v

way to survive with that type of online e commerce mix. i think we're in a sweet spot of people wanting to go back and shop in stores i don't think that the trends toward e-comrc story and for retailers, they've swapped lease prices and lower costs on rent with much higher labor costs and i think that the latter is go much more trouble some, even though it is good for society. >> coming up, new details on the highly anticipated rivera ipo.

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#1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin welcome back to "fast money. we have new details on the rivian ipo phil has the very latest >> melissa, this is a highly anticipated ipo that come to market as soon as next week. here is what we found in the amended s-1. we've learned that the listing could happen as soon as next week at the nasdaq, rivn is the ticker pricing between $57 and $62 a share offering up to 135 million

shares, that means the valuation between $76 and $83 billion and there another 20 million shares that could be offered on top of the 135 million. amazon in the s-1, they own 20% of rivian, they may take up to 200 additional shares and how highly anticipating it is. amazon has ordered 100 through delivery vans, some of which are already on the streets making deliveries for amazon, those are electric delivery vans built in central illinois 100,000 have been ordered by amazon we've seen momentum for electric vehicle stocks and tesla certainly leading the charge another big day for tesla. the stock keeps moving higher. it rallied on a number of initiatives, the company has announced around the world, including a zero percent leasing plan in china and other initiatives other in europe.

those alone should not be enough to say this stock is ready to move highir. but then our friend adam jonas at morgan stanley saying as crude oil prices continue to move higher, it makes the idea of buying economical, buying an ev he said we anticipate the acquisition cost of the average ev should fall below the average internal come buston vehicle by later in decade. how much enthusiasm there is for electric vehicle manufacturers as the cost continues to come down and take a look at the chart here comparing tesla shares and what we've seen with crude oil prices it is interesting. you see them continuing to move higher, especially over last couple of months and as we mentioned, all of the ev stocks got a nice bid, moving higher and they've been going this over the last few days, fisker and you have quantum squaip and all

of them having a nice day. >> and throwing the ones over in china as well. these are strong it is a global phenomenon. thank you. the headline that stood out to me, karen, when looking at this and having phil report on it, is that a cornerstone investors are willing to buy more stock at the ipo price and we hear about or worry about investors wanting to get out. >> mm-hmm. it makes me think that the range is going to go higher before this gets done it is just a staggering number, though i mean, i get the whole virtuous cycle of one these become more economical than internal come buston vehicles but the more efficient it is, and the more charging stations there are, the less one worried about how far the range is, but how much of a virtuous cycle is already priced

in in here it seems like kind of a lot. so good for amazon for buying the trucks and having the position that is an enormous score for them but it is too rich for me for sure >> is it -- is too much priced in, dan. let's focus on refrn of rivian for instance if you think about the market, every single vehicle on the road that makes delivery, that is a will the of cars without factoring in the pickup truck and et cetera geared toward consumers. >> i agree i think that amazon holding 20% of that company and then being their largest order to date, that video that you're looking at right there is pretty interesting, though, mel you just mentioned trucks and suvs, i think that 80% of the cars sold in america last year were trucks and suvs that is where they're going. and then they have these enterprise customers

so i think it is a really interesting story. we're talking about lucid last week really interesting, high end sedan there. but they're going to be competing with the germans, they're competing with the model s plaid by tesla and i just find this niche, if you will, to start out much more interesting and i think it is a nice price point i think that truck, that four-wheel-drive truck started at like $77,000 or something that is nearly double the cost of the average car sold in america. but they almost have to start out at the higher price point. that is how tesla did it if they could get in there and suvs and trucks before anyone else does, that could be interesting. and ford has a 5% stake in rivian, they are going to build out lightning. i think it is an interesting story. you tell me at $1.2 trillion for tesla and low digit market share, it is a tough one to figure out. >> well is ford worth what it is trading at is ford the ultimate play?

the positions in rivian and in its own portfolio for that transition >> right and so i think if you think about valuation, if you think about who has the infrastructure to do it, i think ford is a very big part of that and adam jonas in his note mentioned that allof these things are going to happen in mid to late decade think about the average hedge fund report portfolio manager, they don't know what they're going to have for dinner, let alone the next decade. so my guess is a lot of this is being priced in right now. that doesn't mean these things can't get out of control everybody wants to find the next tesla. riverian seems to be the next tesla for today. but if i were a shareholder of this company, i would be selling with both hands on the ipo >> interesting tim, you're quick thoughts >> i -- ford trades less than ten times earnings it is obvious where that money should be allocated and obviously stock was up 5% today which is probably at 75 to 80

billion exactly the valuation of their stake in rivian. but it rallied with this news and look the move in tesla as the whole ev space heats up, tesla is up in 11 trading sessions so, yeah, where should you be valuing the entire sector. i still think that the v value valuations are perfectio whereas gm and ford are places where you have guys not executing and moving well into the areas with a lot of investment dollars that is how i'm playing it. >> coming up, we're tackling deere and robo lox and good news for amc. grab your popcorn, the trade is upex asmoney" is back in two. s are bt with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives,

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set your clocks to alarm, the first interview with former google chairman eric schmitt, talked all things tech tomorrow at 8:45 on "squawk box" here on cnbc deere and company surging 4%

after the company reached a tentative six year labor agreement. this deal covers more than 10,000 workers and includes wage increases and signing bonuses and more workers still need to vote on this deal. and we've seen this time and time again in a lot of companies, the effort to unionize and take advantage of the supply demand dynamics in the labor force favoring the workers who want higher wages and this spells tighter margins, but good that deere has some clarity. >> it is and i think that that thwas something that a couple of weeks ago when this looked like they have a deal on the tanl and then getting squeezed, it left some unknowns but if you look at the overall business for deere and for caterpillar for that matter, deere has outperformed because they have to put less investment in some of their technology and infrastructure and i think that the tail winds of where we are right now for both the ag economy and broader call it food safety dynamics, i think still play to their favor. so a better run company even

with higher labor costs getting this behind them interesting. don't love the chart but it had a very good run. >> karen >> to me i think about this news as much broader than deere good for them. clarity is good for them hopefully it will be approved. i think about this supply chain issue has caused companies to really rethink the just in time inventory and so if they have to repatriate some of the production, that helps unions. there has also been a shift in sort of what is important to companies now. right. it used to be only maximizing shareholder value. but it is more concern about the kro constituents so this is an interesting time for labor. and it is not just deere it is much broader than that and to me that seems inflationary. and i think the pendulum will swing way to far bringing more

production here and it will be more expensive by i see a lot of others doing the same thing and they don't have a choice. not that it is a bad choice. but they're forced to do it and i think that is higher wages across the board and higher inflation. >> thir tractors and what not, then they'll be able to expand margins. so i think that is what is what the maet

first time it is done in 2012. now farmer could afford tod thao parents that rely on the road block accounts for the kids to keep them busy in the lead up to halloween.

i think it is an interesting name that i saw, i've seen brought up since zuckerberg's key note about meta last week and people are saying listen this is right in front of you, there is a metaverse that many of our little beings are spending time in this is a company that is not profitable for facebook it means entry level hardware into their platforms and the stuff they want to build, but robo lox is already there. i would expect to see a lot of m&a in the space the stock has is not the

platform that facebook is. but all of the teens and preteens on road blocks, they went somewhere i don't know where they go obviously we're not in the demographic but they went somewhere and they did, this is a company in a hyper growth period that is not profitable and with the future in the metaverse still so unknown, road blocks are laying their claim and that was -- that is if the valuatiot

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did the retail investors save amc >> we had saved amc first. by raising a lot of money. but then the retail investors arrived in huge numbers. and, yes, they saved amc and that is when they saved amc because of the retail investors. we raised another $1,250,000,000 in may and june of 2021 and that last billion dollars is what really will, i think, guarantee that we survive through this pandemic >> that was part of my interview with amc ceo adam aron, prt of the documentary. check it out on youtube on our youtube channel at youtube.com slash cnbc and at cnbc.com

amc making headlines jumping 5% after theater admissions in october was the highest since february of 2020 amc is up more than 1600% this year the 5% gain today adding to it karen, quite a story and you were taking a look at the bonds today. the bonds maybe tell the entire story of the roller coaster ride that adam was talking about. >> right well they were managed to roll out their bond there is one that was most active today it matures in 25 or 26. it was in the lower 20s maybe at the depth of despair and it is -- now it is just about par which is kind of an amazing thing. although at par it is still 11.5% yield. so there is some concern but that's kind of extraordinary that he was able to do that and i mean, i just think that every turn he was masterful.

i'm interested to see what else he had to say to you, mel, particularly the episode with the lack of pants. >> he was wearing pants during the interview that i conducted with him in case you were wondering he was wearing pants which is a good thing but he called riding the tiger by the tail. in other words you didn't know where this is go tock take you but he knew he could take advantage of this lean in and buy his company a lifeline which is exactly what he got but could it work if he's looking at things like a partnership with gamestop showing live sports on screens, offering or not offering but taking crypto as payment b.k., what are your thoughts >> i think a billion dollars will buy you a lot of pants so i i'm glad he had it on when you were doing your interview with him. the movie theater chain, that has to change a bit. i'm not going to bet against amc because they've shown that they could actually maneuver on wall street i agree with karen, this was

absolute masterful job by the ceo. but we're not looking at a chchai that will look anything like it. until there is clarity on what the future of movies in a theater look like, up 1600%, i'm a seller. >> all right again it is on the youtube channel, so check it out coming up, options traders are revving up for lyft earnings after the bell tomorrow. we'll tell you how they are trading the ride sharing stock next you're watching "fast money" live in times square we're ckig aerhiba rhtft ts. ... serena... ace. ♪ ♪ get your tv together with the best of live and on demand. introducing directv stream.

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welcome back here is a a sneak peek at the cramer cam catch a full interview at the top of the hour on "mad money. and you could have cramer delivered right to your in box at the cnbc investing club point at the qr code and sign up check out shares of lyft rallying but still down 16% in the last month some are betting the stock could be ready for liftoff in the earnings tomorrow. see what we did there. mike khouw joins us for the action. >> about 2.4 times the average

daily volume it is implying a move of 8%, slightly under the 9% that the company has averaged over the past eight quarters. now bullish bets narrowed out bearish and this is longer the stock by about $5.5 million worth of the stock most active call options were the december 15 calls, over 1900 were trading at about $1.72 and buyers are betting that the stock could get above that $50 strike price and obviously there are hoping for a bit of a rebound after earnings >> tim, what do you think? do you like lyft >> i like uber more than lyft. i think both of the companies have had exposure too reopening and cyclical and labor cost. think lyft is losing market share. enough where it is costing the stock and the under-performance. if anything, i realize that the uber business model which is one that seemingly pushes oust

profitability is the one that is so much more interesting again the super app that has not just grocery deliveries but the purchase of drizzly. everything that would be transported, i think they're going that way and it is a much bigger opportunity so at a time when both stocks have been largely dead money for the last couple of years, uber has outperformed lyft an i think there is a reason for it. >> once upon a time you wanted a more focused business model, dan. do you >> if you're worried about profitability or want to get there quicker, i think lyft has a best better shot they have not done well in the pronouncement, if they could hold at mid 40, there is a ricochet back down to 16%, there is a ricochet back toward that mid-50s level here so if the deck -- 50 calls are the most active which mike just described, i think that is what the traders are playing for and it lines up well with the 200

day moving average if the quarter is not a disaster, this stock will be above 50 sometime this week. >> mike khouw, thank you to you. for more "options action" tune into the full show on friday at 5:30 eastern up next, a special time of the year for a lot of people and for mcdonald's the sandwich that is on everybody's mind we're biting in when "fast money" returns ♪ ♪ ♪ ♪ ♪ ♪ wow, we're crunching tons of polygons here!

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welcome back to "fast money. it is everyone's favorite time of the year. not talking about the holidays thanksgiving or that, it is time for the mcrib and in a 2021 spin on the classic and they also giving away ten mcrib nfts to some lucky fans. tim, i know you'll race out and get that mcrib nft and bite in. >> look, yeah, i mean, look, i love barbecues as much as the next man or woman. but i just don't really understand this one.

but the cult following around it and you throw nft on it. i'm surprised mcdonald's is not up 10% i'll get it. not sure what the nft gets me but i hope it is handy while i'm in line. >> i want to know what they're worth if anything. i think i would rather have a mcrib over an nft. time for the final trade now let's go around the horn tim? >> yeah, let's go bed bath and beyond think a deal with uber today gets their deliveries out there but you can't say that property malls and other things and consumer stocks are doing better and say this company shouldn't also over come some of those head winds i like the name. down a lot. >> karen >> yeah, i like pfizer it is well off its highs and a little bit off the recent lows and it is rising rates at 10 times earnings with a 3.5% dividend it is a value. >> b.k.. >> nothing runs like a deere you take a bushel and your hard

earned cash and you buy a deere. >> if you see that thing down in the 70s, i would be there. >> "mad money" with jim cramer startsig n rhtow . 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 kray amerkia. call me at 800-737-cnbc or tweet me@jimcramer now that we've gotten through october in one piece, we have reached the promised land ♪ hallelujah