unemployment is low. he has flexibility here. as longs growth remains high he is not making a huge trade off >> that will be a delicate dance he will have to do to define the year steve, thank you thanks, mike that does it forr us on "closin bell." "fast money" begins right now. >> live from the nasdaq marketsite in time square this is "fast money." i'm melissa lee. tonight's trader lineup tim seymour, karen finerman,dan nathan and pete najarian tonight on fast, danny says could be trouble brewing under the surface of the market. plus oil breaking out. crude soaring above $100 a barrel for the first time in more than seven years and chart master carter worth drilling down where this is heading next. and earnings calls underway we'll bring the latest

russia ramping up attacks in ukraine sending stocks spirals s&p 500 down more than 1.5%, dow shedding nearly 600 points as rate route continues, yield of the ten career hitting lowest level since january 5th, rates were above 2% just last friday and that drop is having a big impact on wells fargo, bank of america, jpmorgan falling sharply, jpmorgan down 8% in just the last two sessions what are the banks telling us? is just a reaction to the decline in the 10-year yield what's going on with spreads or is there another message, karen, that we should take >> i think there's several messages, i think one is what you said, right. but there's other ones too i think the most important to me is the potential for sort of a credit -- i don't know -- spill over, right? so as i go through and look at

all of the banks, do what everyone's doing, put up the 10k, the term russia, you see how many things come up. right? hopefully gives a little bit of comfort if any but you can't help but worry about a credit contagion we saw it in the credit financial crisis i feel this time they're not as interconnected but you don't know who has the exposure until after the tide goes out. so it it's the rates also is the economy going to slow mike loan growth slow. and the market being down. lastly, the extend the money setter banks like citi, bank of america, jpmorgan to the extent they have capital markets business, investment banking business, which they do, that is slowing. morgan stanley down $21 or so from its recent peak seems to be over done given the bank part we're so kearneyed ab -- concere

about isn't as relevant as ma morgan stanley >> we have an economy that in last two years the banks were in a cap seat look at the fed in march 2020 what they did and fiscal stimulus behind it and avoiding the faults that they priced in because of the uncertainty of the effects and what could happen with the sanctions and it's not just european banks exposed to russia there's stuff that could be happening here we don't know. make this one point as you talk about interest rates we were just above 2% for the first time since the start of the pandemic when i think of the last two times the fed indicated they will hike rates to fight inflation or starve off the risk asset bubbles that were being created it was back in 2000 they were hiking into the top of the market there, fed funds was 5.5%

and ten-year was 6% and in 2007 same thing they were hiking the 10-year u.s. treasury yield above 5% here we got above 2%, stock market sms s&p 500 is only down 10%. if anything material could happen, s&p has way more to go, not saying it will crash but those were barp markets that had orderly sell off and i think this sell off has been orderly, we had panicky days but for the most part it's felt orderly. >> when you look at european banks they probably have most exposure to russia of the banks in the world but huge decline, 7% in credit, and deutsche bank, the muscle memory makes you think wow, great financial crisis and how's it connect to our financial system a lot has changed and i wonder how you think about it and

whether or not there are spill over effects. >> my muscle memory on european banks is also the lower rate environment was deadly for deutsche bank and if you think of the rally of the european ba banks significantly outperformed u.s. banks until three weeks ago because they had been deeply negative into 30 bip territory the pull back in 10 year is the pull back in interest rates a cross-examination europe across europe. also european institutions have a lot more credit exposure than we do and money center banks in europe have that much more exposure and banks said most people don't know little about let alone how to pronounce their names -- bank that's have a lot of russia exposure, that's something that clearly is playing out deutsche bank historically and famously has been very much tied to russia over the last couple decades. those are the things

i think we can't under estimate enough how everything is tethered to the ten-year we kind of peak to trough her somewhere down to 168. that's 38 or 39 basis point move in the 10-year i think money center banks price in main street. in may 2020 other things were rallying and we didn't see banks and wondered what the disconnect was, three weeks, certainly three months ago 1eds banks could be defensive in higher rate environment i think the banks are feeling the it. forget direct russia exposure but how about unknown or derivative exposure we can't quantify those are the issues we're far away from a credit event but we're all talking about it because it's real if you see the significant slow down in the economy. >> pete, yesterday, you talked about oil and what it would mean for the consumer and the economy

and how oil prices that spike higher can't possible by be good is that what the banks are telling us here that this is a head wind that we'll have implications on economic growth. >> i think that's part of it, mel, the other part, everybody talked about krcredit exposure that's huge and we talk about volatility, it's there, we popped all the way to 35 today before pulling back to 33. then you look at volumes, volumes have been there, derivatives, well over 40 million contracts on average a day, that's huge the velocity of the moves is really something i talked about it last night, the last 22 minus of the day yesterday and look at the 10-year today. that's a pretty dramatic move to watch the 10-year. friday we were just over 2 two days later on tuesday we're under 1.7. as tim pointed out there's a lot of movement going

on and that's part of it the combination of all that is makingthe banks seem a little bit more fragile i talked about it on the halftime as well, when you look at jpmorgan it was stretched, no one wanted to admit it, it was trading over 160 we all love jamie diamond, all of that is great, right, but at two times book that becomes more and more expensive and there's a reason for some pull backs and specifically in some of the names why they are pulling back more than others, not necessarily the russia exposure but has to do with the levels they reached before the correction we're in the midst of especially with all of the movement we're talking about right now. and what is under the books? not just credit exposure, it's exposure to a lot of different things that have existed in the past, we seen it with the white whales ed the rest of it there's a lot going on in the markets, especially the financials >> when you say we all love

jamie diamond karen had a big smile, you meant especially karen finerman ha ha. >> of course >> let's bring in danny moses of big short fame founder of moses venture and co-host of on the take podcast great to see you to the extend russia is on anybody's books there's possibly positions that have gone wrong on the part of many hedge funds and we don't know how these financial institutions might be exposed. when you see big spikes in oil and commodities someone's on the wrong side of this trade. >> correct you only had me on in bad times. i look forward to coming on when things are good. that said, yes, you can't have these type of moves in rates, currency, commodities without some damage, it's too much volatility this is the first time in a long time we faced this sustained

volatility without the fed having our back. think of the liquidity pumped into the system found its way into various parts of the market right now are really being exposed and this is not a healthy market to be in. we'll see if it is loans to hedge fund or banks that are focused in some focused on u.s. economy and some international you're seeing the birfurcation there and stocks will tell you which way it will go. >> is you don't think the economy is as strong as some suggest, when you look at where employment is, that sort of thing. banks had spent 2020 just building up reserves, right, for defaults, that sort of thing, both on the consumer and on the corporate side but they've released a lot of those reserves so what is your sense for how the banks are positioned for some sort of unforeseen credit event. seems equity investors right now

are in front of that. >> banks generally trade with rates same as energy companies trade with oil yes, things were getting dicey before the geopolitical risk came to the forefront here things were already set in motion you think about 2020 when the ipo calendar and wall street really shut down starting the second quarter last year was an easy comparison 2021 was record in most categories, ipo's and so forth, we're now facing very difficult comps and knew that coming in. this has exacerbated many of those issues and the economy was on the precipes of slowing down. i was never a believer the fed would go more than three or four times, i think they need more strength but when pull that type of liquidity out of the market it has a repercussion. we have a lot of money in the massive markets you talk about on this show i lot

people weren't doing bottom-up work and now it's time to sharpen the pencil so a lot of the issues were already here and will now be examined closely one more thing in honor of paul volker, people don't talk about this enough. he passed away december 2019, the volk e r rule changes proposed and in effect july 2020, well the fed was printing money putting a lot of money into this economy and there was period of time the banks got green light to lend more and it is something would be great to have him examine this and deal with the inflation in market. >> when you think of the potential risk to banks do you think of these as potential or do you think that they are actually there and how do you think about trading this >> so the banks, i think the large u.s. banks are going to be fine here, they will cut their losses and deal with it, they are still very well-reserved on

the corporate level. i think those will be fine i'm sure we'll see a couple banks that have outside exposure with things we haven't seen whether in russia or eastern europe that we don't know yet, that, i can't tell you what's going to happen there. but from the consumer perspective backto what dan talked about we're going to see a slow down in consumer spending and credit has peaked, if oil stays at sustained level and if the fed does start to raise rates it all puts pressure on the consumer, especially those with floating rate debt. so i think we'll see this thing play out but i do believe that the u.s. banks are very healthy in terms of their balance sheet. i don't think it's i contagion risk among the wall street banks. >> great to see you and we'll try to talk to you when things are a little bit better. >> please, guys. >> danny moses, it sounds like,

karen, we're overest estimatinh strength of the consumer, maybe we are >> i guess we'll see in retail steals but the names reporting are pretty good. i don't know if it is a question of confidence that matters even if the consumer has money, confidence matters, maybe this ukraine situation may cause some to step back a little and just watch. >> let's get to the fed. because rate hike expectations are coming in, as you know let's hear from steve for more, steve? >> hey, melissa, the decline in yields which i think is pretty sure brought on by a flight to safety is prompting a rethink of the outlook from the fed 50 basis points is out for march now. more doubt crept in on hikes beyond three best to be scareful making calls on fed policy from big flight to safety swings because a lot of

people are squared to put money in doesn't change the fed cal calculus trading only 10% chance of hike being 50 high probabilities for quarter point raises in may and june that's where the certainty sends. ends probability for july and november approaching 50% for the first time in a while, six priced right you all comes with the sharp decline in bond yield. ten year ukraine invasion fallen from 2% to 1.72 complicates the fed jobs and looking to cool the economy, wants higher rates and is now getting lower rates and the war further complicates the job pushing oil is prices and fed might back off tightening because of guipouy uncertainty well the move in commodity forces their hand and one other thing, if tim gets his hands on the phone, i don't think it's crazy to think you have a lot of

money in russia assets looking for new home maybe land treasures to bring the yields down today. >> steve, it's karen, thanks for being on -- >> -- karen, go ahead. >> one at a time, kids >> okay, so we see couple rate hikes whether four, five, six, does it matter asmuch as qt an is qt now postponed? is off the table for this year what do you think the fed is thinking about that? >> well, as i made the asterisk i put up on all these answers, i don't know what it means for values, you guys are the experts on that. there was stuff that was trading crazy and the fed comes and said it will hike rates and some of that stuff comes down. i have no problem with funds rate 1.5% and fed backing off 9.9 or $9 trillion blaps sheet, i don't -- balance sheet, i don't think it's a problem with

7% inflation rate where growth will be above trend or thought to be above trend for this year. i don't think, karen, that's a problem for the economy. you just have to figure out the high-flying stocks with the one percent funds rate rather than zero are they worth 30 x or 20 x, got to figure that out. >> steve, it's interesting jerome powell will be on capitol hill at a time there's commentary from other central banks around the world to the effect of this war is now a major concern and maybe we cool off on the hiking, on the tightening, until we finally see the assessment do you think there's going to be pressure on powell to sort of reiterate or echo those sort of sentiments or more pressure because gas prices spike and the inflation boogie man is looming over him. >> i think that's an excellence question what i'm trying to puzzle

through, melissa, somehow does this war reduce consumer demand, does it cool the economy by itself i will listen carefully how powell thinks about oil prices because it's a double-edged sword. high oil prices are a tax. they drive up the inflation numbers but a lot of times it comes out of other places, especially the way it gets high the way it gets right now. it could be reducing demand. i don't see a lot of ways when i look at thing -- aggregate impact on the u.s., i see a bigger impact on europe, i think the feds will go about it's pointed rounds amid status quo currently of this war, if something dramatically reduces demand, if russian oil is cut off then i see the possibility of fed backing off i don't see them backing off

given the inflation rates and where they are and frankly given the strength of the economy. >> steve thank you. >> pleasure. >> pete, how are you thinking about all this >> steve mentioned the strength of the economy, certainly something we're all watching and oil, the demand, let's all remember that this oil move started long before ukraine and russia started to bubble up to where it is now where we are referring to it as a war i think that makes things very, very complicated and interesting to see exactly how powell and fed wants to navigate through this obviously they've taken some things off the table but you know, i think it's made it that much more difficult for them, no doubt about it and i think they're really going to have to be measured here and it will maybe give them an excuse to step back again if this starts to escalate especially if we start to see something happen with oil and with what's going on with russia and all of a sudden the demand

is there for even more and yet there's not enough, that's something that complicatesle complicates everything. >> let's play this game, tim seymour, what will the market reaction be if powell goes to capitol hill and comes off more dubbish because of the war, do markets go up or down in response to that >> markets go up. >> okay. >> right now the fed put -- we all probably -- i'll take the fed put down 20% from here i do think we have the view that the fed has to move regardless, and so, a more dubbish powell is what the market has been reared on and i think is what they want to hear. >> you don't know my answer? >> it's down. >> it's always down. >> just to be really clear i gave you the eyes in the break. listen, it's down. because a, the fed loses their

cele creditable they have already said they're most interested in inflation and -- we have trillions of dollars of fiscal and monetary over the years. economy was slowing in 2019 before the black swan pandemic here and i believe the 10 year-year-old was at 1.53 couple months ago because it was signaling that the economy wasn't as strong as that great unemployment number was speaking to to me i don't see many ways out for the economy, especially given be the fact the only thing the fed can do that thinks they can help is lose their credibility. >> coming up, crude oil surges to the highest level in nearly eight years, will the commodity continue to climb? chart master carter worth will join us with the technicals. plus salesforce shares on the move after its report, we break

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♪ welcome back to "fast money. we've got earnings alert on

salesforce, shares moving higher after the earnings report, call is underway. let's get some details, deebo. >> well, they got into the first quarter and full year helping to alleviate worries about pull forward on the ecosystem, -- addressing the conflict in ukraine, noted a personal connection, his grandfather came from kyiv. a significant number of employees are back in the office the salesforce tower in downtown san francisco. he also said he believes covid is behind us look edding up to the results, one of the key questions around salesforce and software peers over the last few months has been whether or not the spending can be sustained post-pandemic and positive revenue guidance may suggest to investors the digital transformation theme is alive and well and still shares down 17% year-to-date, under

performing the broader markets, seeing a pop of near 4%, could help to alleviate that if it sticks see ceo marc benioff tonight >> all right, thanks pete you in this one >> i'm not in this one, mel. for the reasons i look at the pe, it seems like it's too high. i know it was way too high over 300 and pulled back to 211 and trading at the levels it is at now about two weeks ago or so. so they beat on the revenue and earnings which is great, we all look forward to that, but that's off the guidance from last quarter when they lower. so i know they're looking forward and talking about the guidance going forward looking very impressive, that's great but 45, 50 times earnings, i'm going to stay away from this, it

has to have a lot move earnings power behind it before i'm interested in salesforce again. >> tim, do you think this is good new for the rest of the sector >> i think there's still some question about how much pull forward or swapping out in an operating environment where companies could spend on software, made sense to spend on it, they had less overhead cost. i think there's still hey wait and see where they are this is an improving operating margin story raised operating margin 360 on the guide, good news down 40% at this print this is not something that we talk about the environment and high multiple stocks, at 7 eb to sales and 30 times free cash flow as pete said, i think the market is not ready to say the worst is over. i think it's a capabilities you are gettin i think it's a case you're getting a release on the number

after 40% down tick after tiktok do tick i don't know where the demand is >> all right, dan, sofi, you're in this one. >> yeah, listen, this is one of the ones that became public via spac last year, a new, fresh story, is disdisruption versus some incumbents. it's still interesting to me, user growth was important. on "closing bell" they talked about sofi stadium, i was there, went to the nfc championship, can't imagine what great advertising for the grand when trying to a track a new customer that's great it was a good quarter. don't know if there's anyone left to sell the stock some of the sentiment was beaten down and didn't need to do a lot to bounce but what guys say about salesforce is true in the fintech space, going to take

time for investors to rerate stocks and get comfortable what the next couple years look like not next couple quarters >> when you look at sofi or paypal or fintech stocks they have rerated, have they done it enough >> i think not when i think about sofi they want to be your trading platform, have your cash, make loans to you, help with investments like banks which trade at a very, very different multiple from fintech, i think there should be a convergence between the two. >> except like the bank, jpmorgan was nailed in january because of the expenses and incumbent cost they have. if you invest in example like sofi you invest in the tlench going forward not having all that incumbency for me that is the trade for five or ten year view and why you will see jpmorgan

buy ultdly because in this time investors are willing to give a pass. >> pete, have you been active in any name that's have been decimated in the firms of the world. >> yeah some of them i have been in affirm, that didn't feel good, fortunately it was with options so i had limited miss with that trade on but sofi has been a great trader i know you talked about, dan, owning it. as a trade it's fantastic. as a stock move to the down side has been very, very painful, a nice big jump today on the earnings that's great. but it's been a really difficult trade. it's been fun trade, mel, most of the time but has not been easy and has given opportunities on many occasions for very inexpensive options to become solid worth in short time. >> we have breaking news out of washington ahead of tonight's "state of the union" address, let's get to our house

cooperatentent, kalga. >> the white house is releasing ex excerpts from president biden state of union on the efforts in ukraine and the diplomacy and second on inflation, even as russian convoy is outside kyiv, president biden expected to have this to say -- [ reading ] he will say that putin thought the west and nato couldn't respond and instead nato became more unified, that putin was wrong, and the u.s. was ready. on inflation where president biden is expected to lay out several policy actions that he plans to take to try to combat inflation he is expected to say this -- [ reading ]

the president will say lower your costs not your wages, [ reading ] instead of relying on foreign supply chains let's make it in america. there's many efforts to try to on shore a lot of that manufacturing. it would be expensive in terms of incentives and in terms of labor and has raised the question how much and how soon that would alleviate price pressures. we'll see what the president has to say at 9:00 tonight >> kayla, thank you. she's running through what president biden would say. we're just sitting uphere on the desk scratching our heads. on-shoring is more expensive things would be more expensive, karen. >> right. >> i would think that's huge. >> right we saw how off-shoring made things a lot less expensive, so

the reverse is true. however there's strategic reasons why we do need to have on-shoring, but to me it does seem inflationary. >> crude oil prices spiking 10%, topping $100 a barrel for the first time in seven years. energy sector the only to post gains with named like -- pioneer and hess, 52-week highs, where's prices going from here, let's hear from carter worth to sort it out, carter. >> yes, please, very hard subject and very important subject. let's go right to the charts and try to figure it out together. so the first chart is the daty chart of wti crude oil and what we know is has moved up and out of this hot, mega formation has moved up and out of this formation. now today a big low to high spread up 12%, right, closed at

103.40 -- 95 on the low. so the question, is this the beginning or end of the run? let's look at the next chart this is an all-data chart going back to the 1980s and what is clear is the two sort of outlier events, you see the spike in 2008, that was july, when crude hit 147er a barrel and then covid low crude went briefly negative $40 a barrel. the way i have drawn the lines, anyway, the upside gets you to 112. 114. so the real question is we're full here's a kpcomparative chart. that's oil versus energy sector. the next is same kpartive but since 20006. they track one another one more chart goes back to the

year 20000 you see the over shoot the under shoot. the commodity, oil relative to the stocks two more charts and we'll try to tie it all together. this is the entire history of the s&p 500 energy sector. not exxon and chevron but others in it. now let's look at the same thing another way. final chart. this is a ratio, a relative performance of the energy sector to the s&p 500 since the nix data begins in 1989. here's the interesting thing you can see where the line is drawn. relative performance of energy stocks made it low in 1998, crude was $10 a barrel from there it reverses energy stock out performs the s&p. we're now quietly approaching that line. i think that's where it peters out, runs out of gas

>> no pun intended. >> runs out of gas, nice one carter worth of worth charting pete, i think you disagree, you like these energy names? >> yeah, i've been disagreeing for a while with a lot of people pushing against the price of oil. i still think there's room to the upside obviously this is the first or second time we've crossed over the 100-mark over the last couple days and i think there is a little bit more room to the upside and with the added side what's going on with ukraine and russia it's just one more element but there's plenty of different reasons this was already moving to the upside i continue to think demand is going to be there and tell you what, my biggest concern is the prices at the pump and one way i'm defending against that is i have so much oil exposure and it's working to the upside you have to be disciplined but every day i add more and more oil to what i have in terms of representing my portfolio and right now is probably at the highest level it's been in every two years.

>> interesting hedge paying more at the pump. tim seymour where are you in oil and how do you feel about the notion of petering out on the equity side of it. >> i think energy equity showed there's concern you could destroy some demand with higher oil prices i agree with pete in terms of the underlying commodity i see ste structural dynamics and supply dynamics that are disruptive and tactical allocation and will continue to rise, i think oil is going higher and will ultimately be demand destruction after we have taken it higher the integrated names look great. i think you want exposure to lng that can be exported to europe look at other plays across the board where they have ramped up

production >> coming up, earnings keep coming in, shares of amc and nordstrom details next and bulls high for target on the back of the earnings we break down their jump when "fast money" returns the groom's parents? they just found out they can redeem rewards for a second honeymoon. romance is in the air. like these two. he's realizing he's in love. and that his dating app just went up. must be fate. and phil. he forgot a gift, so he's sending the happy couple some money. digital tools so impressive, you just can't stop banking. what would you like the power to do? my name is douglas. i'm a writer/director and i'm still working. in the kind of work that i do, you are surrounded by people who are all younger than you. i had to get help somewhere along the line

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♪ welcome back to "fast money. we've got an earnings alert on nordstrom, surging after reporting, let's get the details, court. >> hi, melissa yeah, the share move is eye-popping. it is worth remembering how far shares have fallen, down about 49% in just the past year. still, nordstrom put up a strong holiday quarter beating on earnings and revenue and growing margins 5% point rack business saw sales fall 5% kp but have improved over the last quarter or so. on the call ceo said the company plans to grow rack profitably and won't be satisfied until that happens the earnings guidance for the current year far exceeds consensus than stronger sales than forecasted as well.

i think that's what references are p investors are pulling on shares up 25%. digital sales grew 23% if you compare to the holiday quarter 2019 pre-pandemic making up 42% total sales for the year an important number to watch as nordstrom moves to pull stores and online together in one big cycle. now beauty, home and active were among the catalogs calmed out as winners. core category like shoes, still below pre-pandemic levels. inventory levels at the end of the quarter were higher than planned as better than anticipated supply chain outcomes and bring the inventories more in line with sales. >> court, thanks courtney reagan. also let's look at target while we're at retail, topping the tape, jumping nearly 10% on the back of its report this morning,

sales jump more than 9% and hope to continue. can all of the operational improvements that were underway pre-and, share gains is sustainable, pete, i guess this proves they are? >> yeah, and they absolutely proved, sticky, plenty of growth, mel, you look at the digital as well as the traffic, much better than walmart, numbers are extraordinary across every metric most important for me was we know there's grocery at walmart, target those type of stores but that's not where the margin is, it's a smaller piece, about 0% where they saw great growth not just grocery which is double digits but in apparel which is also double digit growth, that's important. when you look at that quarter it's extraordinary i'm surprised the stock pulled back as much as it did but it was a huge move in initially so i expect the stock to start

creeping up higher over time 15, 16 times pe is way too cheap still. >> i agree with everything pete said and want to add the idea the growth was over, that this was a pandemic winner and shouldn't think of them growing they threw cold water on that, they are trading at low multiple and continuing to growth that's a good recipe. we've seen them execute and they deserve the bennett if fit -- benefit of the doubt >> breaking down the rally ahead and breaking down move in amc. higher after reporting, yep, still high er. you never know with this one the details when "fast money" tus.rern esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance.

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♪ welcome back, we've got an earnings alert on amc, check out the shares up by 0.7% off after-hours highs following the latest earnings report the conference call just kicked off at 5:00 p.m. eastern and

julia is in on the actions julia? >> amc shares up slightly after the theater giant revenue beat estimates $1.17 billion ahead of the $1.1 billion analysts estimated as "spiderman" helped to drive performance in the fourth quarter amc with adjusted loss of 11 cents, unclear which is comparable to analyst estimates. cco adam aaron noted that 2021 was another year of continuous recovery as theaters reopen and number of release titles increased. the company hosted 60 million people in the fourth quarter and average revenue per pat ron was more than 25% higher in the fourth quarter before the pandemic began, aaron saying -- [ reading ]

aron saying that while there's work to do they are on an upward trajectory expecting the first quarter to be above 2021 levels but will be relatively weak followed by stronger performance for all of 2022. one other note here that aron talked about, all of the different ways they want to transform the company to be more than just movie theater operator including with nft's saying spiderman nft was a driver of attendance and talked about cryptocurrencies and ability to transact in other cryptocurrencies including doge and ibu shinou and no word if they will have their own cryptocurrencies. >> and then the popcorn sales, can't wait for that.

thank you. pete, i know you have dabbled in the meme stocks in the past, what have you seen, it's been a downward slide for the stock since july or june. >> yeah and going from september it was a $50 stock and has been in the teens for quite a while now. it's been sold off it still has a huge short interest we're not seeing anything close to the kind of numbers as a meme stock as it did couple years ago it was on fire making moves. it still has $9 billion in net debt at the company. as a trade absolutely i'd jump on it was a trade, with options only, but hold this stock, i don't see the reasons that would ever put me in a position to hold this stock. it's still in trouble, i think, to some degree, and you know, these earnings are modestly, i guess they're better but are still pretty bad this is a company that i think is in a really, really difficult spot right now and obviously with the streaming and all of the competition that's out there

just makes this a very interesting trade but i certainly wouldn't own this stock. >> all right coming up, big bounce for the chinese tech stock surging after-hours earnings, tell you how to trade bduai "fast money" back in two here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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. welcome back to "fast money", check out the big bound in baidu, investors options action, mike. >> baidu traded over 4 times average daily volume over 50,000 contracts in total a lot was short sell dating call buying saw april calls at over $9.5 buyers will exceed that price by at least the premium they spent, 10% over the course of the next six weeks. >> what a positive commentary, throw edge restored, growth restored.

good commentary. >> yeah they had gone through a good period of a add growth and looked to bestarting to inflect. it's been consolidating somewhere around 160 to 170 range since all the way back to august they also have commercialization of robo taxi on the horizon. entire chinese internet space has been under pressure from big brother. that's a big issue baidu's core business is getting healthier in an environment in china, i think, cyclically the worse was probably last year. >> the worse being the beijing crackdown. karen, do you have -- go ahead, tim, finish your thought. >> that and when you think of the economic head winds not only from covid but the central bank stimulating they will be one that will be cutting to support the economy, people concerned about growth, they're doing

everything they can to support it. >> karen, would you get back into baba. >> no the psychological damage would be too much to me. >> ptsd, it's pretty strong. mike khouw thank you more "options action" tune in to the full show on friday 5:30 eastern time up next, we got your final trades ♪♪ ♪♪ ♪♪ nurse mariyam sabo knows a moment this pure... ...demands a lotion this pure. new gold bond pure moisture lotion.

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do not miss the special coverage of "state of the union" at 8:00 p.m. eastern after the news with shepard smith on cnbc. time for final trade let's go around the horn, tim seymour >> t-mobile not just ebitda story but free cash flow story, check it out. >> pete najarian. >> front line, shipping transformation and oil. >> karen finerman. >> we talk a lot about hyg, if we get into credit crisis or inflation this could work on the short side. >> dan nathan. >> yeah i have a special final trade to a very special guy my dad, he turned 80 today and wachas every episode of "fast

money" and every options of "options action", happy birthday dad. very special one i'm with carter, uso >> happy birthday mr. nathan thank you for watching "fast money" don't go anywhere. "mad money" with jim cramer starts 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 heying i'm dram early him welcome to "mad money. welcome to cramerica i'm not trying to make friends, i'm trying to make money my job is not to make money, to teach, quality me, 1-800-743-cnbc a calm doom heads to encircle a a city, schos,