>> i think that is a really good signal for micron. an interesting tell on how our earnings and guidance come into the second quarter reports. we will see how that goes, appreciate the time today, thank you. all right, that does it for overtime. fast money begins right now. >> old is about to be new again. they are now bouncing back. could it be the signal for the second half of the year. charging higher, the company is saying $25,000 vehicles this year. we will wrap it up. media titans are gathering in idaho. there's something about netflix

being courted. we will take a look at which one makes the most sense. we start off with below negative. it is a sign of pending recession, it is back up 19%. given a new lease on life to this growth trade. it is kind of confusing. if there is a recession coming. >> i'm not sure you want to be in a zoom but i think we've seen this before. there is enough growth there in terms of balance sheet. if you look at the charts, microsoft and amazon, challenging that 50

day. that tells you what is going on. look at the triple cues which is the nasdaq 100 and the s&p. 3.5% since just before memorial day. that doesn't seem to make sense unless you are talking to the yield curve. about three days ago or in the last week, some of those big moves down and the yield across the bond market was breaking something. is the feds going to break something? today they don't care. it tells you the feds is on the front. if you look at the short end of the curve, there is a flattening which means the short end sold out more than the long and. it went up 18 bits and backup two 291. the stocks at the end of the year, everybody but the feds can't do as much as we thought

about three weeks ago. confusing, yes. i don't think you will love it for equities but it is what you have. >> you have this rally and it is a rally you trade on. it goes into the growth whether it be the bigger. >> i think they have an opportunity. i don't think it is accepted. we will see that in interest rates. you were up 75 points and not really seen that it will not come down 2%. i would have a little bit of caution, maybe short term, but longer term, can't pick up the values. >> they report next week and it will be really interesting, it is like taking jamie diamonds temperature in january when we started having that solubility. jeremy diamond was kind of optimistic and then in april he

turned the tables a little bit and then he was the one who warned us about this economic hurricane. he has kinda been all over the place. you started the show out by saying how confusing a lot of these macro heads are when you think about the capital market in the mortgage environment and being inverted. the list goes on and on. sanctions on some of their clients. it is a tough environment here. he would be saying, did you see what the two-year did off of the loan today? it was trading at 2.7, 6%. it is trading at 6% right now. that is an astounding move on a two year treasury note. i don't think it means it is liquid, just think a lot of major macro players are not on the right side of it. we get little data of days that are a few weeks old and should this have been something cracks

>> i hear you, it was a heart in need of rescue. he had a case where you are actually so overbought that the economy we saw today offered fed minutes. everybody reminded where the feds were, it was a distant three weeks ago. they were stressing and what they were concerned about, we reminded the 75 of in july. i think it could change things around. the job market and we continue to get, all the people that are same for the recession, this is the strangest recession we have had. you are adding jobs in a recession. >> that is a job forward. >> of course, i'm not going to

tell you that i think the job market is going to strengthen over the next six months, but certainly where we are going into water economic weaknesses, we are adding jobs, not losing jobs. people will have opportunities to work. this is a very different environment. >> remembered that last recession in 2020, that was actually the strangest one. we saw unemployment go to about 10% but we saw the stimulus stave off. >> is and that what happens in a recession? >> not like that. >> people lose jobs. >> and they throw $4 trillion at it. on the other side we are in a recession right now, this is going to be even stranger thing if you will. going back to the markets, you just mentioned the minutes is a few weeks old here. basically the same spot 75 days. >> a lot lower and some have

gone down a lot more. >> the irony of what happened today, that is speaking to a soft landing. the move and yield since the minutes cannot are not speaking to that. and the move and wish the 2% back is saying they're going to be more aggressive. to your point if you have a hot jobs number there is no reason to think that you shouldn't continue to go higher, just a the course. >> and back to this, i felt like the market was saying, we went from 350 down to 270. the feds are going to step too heavily. and then we reacted and said stronger dollar. this is what is going on in this market. that is why the moves and equity market, it is not surprising we're getting this volatile. >> there are so many mixed

messages, courtney. >> i do think we are seeing a lot of things that will come down. commodities will come down. one thing the feds mentioned is that they were worried about expectation in inflation. people are expecting this to come of prophecy. i think they will continue to raise rates. either they will do that and cause a recession. >> let me show you a chart of the five-year break. it just fell off the chart. >> pre-pandemic levels. >> right, we all got roped in this when here, no one saw the geopolitical stuff for the supply chains and this was strained on the pandemic being exasperated by this situation.

you can sit here and argue about this thing, i know a lot of smart people will come on and say that they got it wrong or they messed up. at the end of the day, inflation was going back down that way. pre-pandemic everyone was freaking out inflation was too low. they wanted it above the 2% margin. we were worried about technology inflation and universal income. a lot of the areas where we have this wage growth on the low end because of the pandemic, those jobs will be automated. all of these companies will have less margins and investment. they are going to figure out how to automate tons of these jobs and in a couple of years we would be back to some of those pre-pandemic concerns about jobs. >> job number one is getting control of inflation. i welcome this as an american for society. it is not something we have seen. this is very sticky.

i don't think this is going to change overnight. it is leaning much more structural than we ever have. we all went to business school and whatever books we read, there was this level of unemployment that blow it was inflationary. there is a lot of forces that have changed structurally in places. inflation is coming down but labor inflation is not changing overnight. >> for corporate america, they are taking a look at the costs. as long as it comes down, that is okay because it doesn't have an offset. we are in a situation where everything is still high. one level goes down, that is a pressure point that is relieved. >> i think that is right and i think you have seen the market price and some of that. the market in the last three weeks in that fed meeting has

taken fed funds from 370 down to 323, that tells you the people have gotten a little more comfortable even though today we had that selloff. >> okay, are they going to talk about commodities that have rolled over? >> no. >> exactly. that means that it will still be negative? >> i believe that very much. >> the one thing they can do right now that is under their control is to cut their workforce. obviously unemployment limit goes up, i don't think you will see wage inflation increasing. even in the last six to 9 months. >> our next thing we are a long way away from pre-pandemic levels. here is a cnbc contributor.

i talk to you twice in one day. we have gotten the fed minute and wondering what is your general reaction? were the markets bearish after this? >> i think the minutes did not reveal any new news. they did reinforce for markets that the fed is flexing their muscles to try to fight inflation. how far they are going to get with the rate hikes we will have to see. at least for now they seem to be pretty committed to get the fed funds rate to about 3%. heavily look around to see what the state of the economy is an seaworthy inflation numbers are and go from there. same time in the background, it is quantitative tightening has only just begun. it won't be until september. in terms of the reinforcement that

they will continue to raise rates in the short end. along and is very sensitive to the reality that growth will continue to grow. >> and aggregate will much harsher on the economy. >> this has been going on for decades. as time goes on and more debt is embedded in the financial system, the low interest rates will become much more sensitive to even modest changes in interest rates. a mortgage rate that went from three to 5 is a rather short move relatively speaking. it was enough to cause a very short decline in the pace of transactions. when we have seen a rising in

interest rates that historically are very low, it is enough to cause a 30% decline in the nasdaq in a short pier >> of time. it frees up funding for small companies. it is a modest rate of change that has the impact. that is why this whole soft landing, i don't see how you have it in this type of environment. >> peter, is that okay? talk about mortgage markets and i would argue that the fed's number one job is to get control of the housing market. that is the biggest bubble we have out there. >> i agree, we need to wring out these accesses. a first-time homebuyer, i feel really bad for them. the price your pain is not just 20% above where it was a year ago. a year ago it was up 15% on the

year before. we do need to go through this self-imposed pain in order to correct some of these accesses. the one thing that they get now but forgot in 2021 is you need stable prices to treat the foundation for a healthy economy and maximum employment. it is a process we need to go through, but it is still going to be a painful one notwithstanding. it is something we need to do. >> peter, get to speak to you again, thanks. what would you add right now, courtney? >> you want to make sure there is good cash flow. that is going to help their bottom line. i think that might be good to look at. i don't think that is going anywhere in the near future as well. i think you're going to have

some of these where i'm not taxing right now. i don't think that is the way to play it. >> okay game shares after the announced in the form of soft dividends, their starting july 22nd. the shares are up 7.2%. it is the playbook recently. the stock goes higher based on i don't know what, more retail participation? >> you bring it down and you make it easier. this poster child number one for what has been going on in the last art market we had. i understand they change the balance sheet, there is a management team that has created significant value and gives investors more confidence. this has not invented this new way to live up to this multipl

, i would be trading this all day long. >> the delivery dill that had them getting nervous. back in a moment. ♪♪ age before beauty? why not both? visibly diminish wrinkled skin in just two days. new crepe corrector lotion only from gold bond.

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welcome back to fast money. over and door dash are thinking after amazon announced to taking grandpa. they will also have perks for prime members. it is the third largest mail delivery service. it is a competition heating up. >> it is a great deal. they sold two years ago for $7 billion. it goes back to, why buy the cow when you get the milk for free? at amazon they could've moved into this at any point. it goes back to other things we

have heard about it, they need a super app, they have prime. they continue to add value to it. if you are a prime customer, they know the data that you will need that much more frequent. you have an option to buy 2% of the company, to me it seems like a great deal for amazon and their customers. >> is it worse for door dash than huber? >> this time you got more, it will be interesting to see for uber. it is a negative for uber. everyone will make the direct comparison. >> now the question is, uber or lyft? >> it is certainly uber for me.

i just believe they will figure out in a different marketplace that was okay and not in this one. i just i look at the ride-share and you talk about this transportation services and how you talk about these companies. they are here, they displaced a lot of the transportation and they're not going anywhere. to me i think if you look at the metrics and the place where these mee getting better. the profitability will be under some pressure. the labor dynamics and what they have to pay the drivers and even some tax issues linger. i think this is a great place for uber. i don't think there's any thing wrong with that business. >> in the meantime, a strong quarter where they lowered 2022 production values. coming along for the ride with stocks today.

>> we see the short-term gains. we do have a lot of cash on the balance sheets. as we are hitting supply chain issues and going forward, think that can put them in a good position. this may actually help them. the increase of a dollar will be much more incentive. i think short-term you will see positivity there. >> she brings of the cash on the balance sheet. literally it is $16.5 billion, they will lose maybe $5 billion next year. i think it is important to recognize that 4400 deliveries. that is not a routing era.

the competition, those cars are hot too. i see them on the road. there will be someone that comes in and figures out how to make that supercharging network across this country and you will have major detroit em as some of these guys and they will be a real competitor to tesla. that really is the thing that makes all of these things really grow. i think it's at a point where gm and ford by 2030, they want their full fleet to bev. >> partners in terms of amazon and ford, where are they going to be in terms of the logo and the driverless and commercial vehicle market? i think they will be at the front of the line. i don't want to chase the stock either. if you're on a down day, would anyone be stepping up to say

they want to buy goodyear here? in terms of their partners in the business they are in, if they don't become profitable tomorrow. they haven't been able to do it yet. >> compared that to a ford and it is amazing. >> a much more fast economy, coming up next. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq,

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welcome back, we will check on netflix falling today. they have lost value just this year >> there is chatter i'm hearing about netflix, they are here two weeks ahead of their next earning in a key member for the games and losses for the third quarter.

if netflix subscribers and the stock continue to shift, the buyer could be like comcast. brian roberts is here and he sat in yesterday. another media giant on streaming is disney. they have the content contribution and they're here for the first time. bob eicher is also here. one thing i'm hearing about is with the pressures that will accelerate. they will goad towards ad supported streaming services. that is a space where netflix is rushing to catch up. he needs a partnership to be a real player in that space. the lower the market cap and netflix and parent mount, the more deals we can expect to see. >> julie, thank you.

investors should pump the brakes on any speculation on a deal with netflix. why is that? >> look i guess everything is possible, never say never. i don't think if we were sitting here a few years ago, none of us i would assume would believe that discovery would consume warner media. i heard julia mentioned that comcast is a potential buyer. that is a very challenging transaction. comcast got into trouble surrounding hulu years ago. the government has a long memory. i think it would be very hard given the vertical integration of comcast interview sharon

combined with the content and also own the world's largest streaming platform. now disney is an interesting one. if disney turned around and sold hulu to comcast, we've talked about the fact that that would be a really bold transformative move. they are looking to figure out what defines and shapes this era. he came in to being ceo of disney and he made a major acquisition of pixar that really set the tone for his career at disney as ceo. i think we're looking for what will define and shape this era. talk about a bold move for disney for the future. >> do you agree with the notion with the recessionary pressures and pressures on stock prices at large that some of these companies will be forced into deals? it seems like an

interesting dynamic. we may want to go away in a recession for advertising, advertising is correlated and we will see that decline. it doesn't seem like a really good trade-off. >> yes, melissa, you just nailed it. what people are missing when they look at the streaming sector right now is that they make $6.5 billion and generate positive cash flow. they are not in a challenge position. subscriber uploads have slowed. the real question is, think about everybody else. all of these legacy media companies that of pivoted to streaming, they are losing billions of dollars. i don't care if we're talking about peacock or piermont plus,

everyone is bleeding on streaming. your bleeding on streaming and now your core business that generates all of your cash flo , broadcasting cable networks, sees greater cord cutting because of the economic environment we are in, but sees advertising turned negative. that is a nasty situation. the real question is when do people start to cut back marketing and/or programming into streaming for all of these legacy media companies? that could be a paddle on the positive side for companies like netflix. i don't think disney will cut back either. there will be some weaker and smaller players that will come back and that will be a very big buying opportunity for netflix over the next 18 months. >> you just highlighted how it would be for the these integrated media companies to buy an asset like this but what about google or meta? could they do this sort of thing?

the other point, this is a $93 billion enterprise company. there are a few companies on the company that could actually digest it. >> sure, let's take meta for second, meta can't make a couple of hundred million dollar assets in your talking about making $150 billion acquisition of netflix. i don't see, if you can't make a $200 million acquisition, how you are making a $100 plus acquisition. it is very hard. apple is the wildcard. what apple is building and having tremendous success, it is not like they are suffering by not only netflix. a lot of people say, wide doesn't apple moved to streaming? i don't think apple is not struggling by not being bigger. slow and steady is doing great.

they have show after show that has really been excellent. i doubt apple will make a major acquisition like this. i think the reality is that, remember, no one is talking about connected tv time spt, metrics is almost 30% of all connected time spent. they dwarfed everybody, even youtube is 20%. no one is even close to netflix and youtube. their head and shoulders above everybody else and they will outlast everybody else. i think they have been surprised by the level of loss that people were willing to sustain. my big that is some of those investment bolts go back. that is going to be the opportunity for the leaders in the space. >> we are just about out of time. do you think this will happen?

i understand they signed the contract but that doesn't really mean anything, ultimately. it is a nice vote of confidence. what do they need to do? >> i think bob has a bad rep. it is very hard to replace bob lightner. he made some missteps. things with scarlett johansson and things with kids in schools. it is been a mess with some of the political decisions he has made. in terms of running the company, i think he has done a pretty good job. he got through the pandemic with real success. i actually think there will be a shift here. why do they need to be in the sports business, why don't they be in businesses where they control the content globally?

does he start getting at them and repositioning disney for the future? i don't think sports and abc, the doesn't feel like the future to me, that feels like the past. i think they will double down and spend more on streaming things that control like just a plus. i am not even sure they need hulu. i think there are some big moves coming at disney, i just don't know when. now they have a contract, he has three years of visibility or safety, let's see what he can do now. >> great to talk to you, thank you. >> disney is known for continuity and stability and i think bob was chosen for that. some of the more public missteps he was speaking to, they've restructured it dramatically. they have a streaming business that is growing very fast.

it needs to be profitable. i think disney has a lot on their plate. could they be opportunistic? yes. i can't speak about the new ceo. when you look at the media and where some of these companies are in not priced into disney as it is and maybe netflix. 15 times on disney is something that is attractive. having said that, if you look at netflix, it is trading at almost the same level. if you are looking at $12 a share, disney and netflix are the same multiple. if something is badly broken at netflix or disney is re-rated, i'm not sure either is correct right now. >> i actually think the opportunity to capture the rest of what i have been paying for so long is a really good opportunity to get sports and

other stuff. i don't think it was self or anything near what some of these companies would be able to buy. one ceo over the last 20 years who have gotten tons of stuff thrown at him and got stuff right. i think the speed at which the stock has come down is an opportunity. >> coming up, the technicals could have some opportunities. china tech has a sell off. more on that when we return so you can go and see all those, lovely, lemony, lemons. ♪ and never wonder if you got a good deal. because you did. ♪

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welcome back, the china internet hit hard today as covid cases rise in shanghai. the ease back on covid measures for international travels. they have the worst performing in the nasdaq 100 today. they are all falling between three and 7%. maybe it's no surprise given the lockdown. >> i think kweb is not a proxy .

when i hear about covid lockdowns, i don't think i want to sell kweb. i actually think the most important driver of a web right now is that the china government is giving jd.com to run their businesses and don't forget about it. it is a job performed by the s&p by 65% since march. granted it was a terrible two year run. a lot of people talked about the value in chinese stocks and the dynamic in terms of macro, it is pumping liquidity. >> do you see value there? >> i think it is definitely an opportunity. it is not that unexpected. they're having more lockdowns in china. longer-term we will see them

come back. maybe we will ease off on sheriff's. tariffs. they are actually holding up a lot better. that might be a little bit of a less play for china. i think longer-term it is a great opportunity. >> coming up, we wl hiilt the charts next. any interest is interest. the details when fast money returns.

welcome back too fast money. the comeback troll over 7%, there has been real momentum. where to find some growing opportunities. what are you looking at? >> i have three things to look at. let me set it up for you first. i think it really starts with interest rates. we think about the disruption in the market this year. when i see a 10 year u.s. treasury shilled at 3.25 and fall below

the 50 day average, i think that is a step in the right direction towards lessening the risk and allowing high-growth stocks to find their footing and allow the equity market. we are citing an upturn in the cycle in the fourth quarter. one characteristic of an upturn is a rotation towards the bear markets biggest lagers. first we are looking for low momentum growth stocks. we are talking about prior underperformers over a 12 month period. we are looking for those stocks who held their 2020 breakouts and are intact. tracing back and we're looking for stocks that more recently reclaim their 50 day average showing signs of strength. here the three names from the start with moderna. that speaks to the broadness we

are seeing in the healthcare industry. it has been moving above the 50 day average. i think that base is intact above 139 which is the level of support for traders to play. the stock number two is into it. the market has a new low intuit made a stronger move. it is moving above its 50 day average . and the third one is at sea. former resistance becomes support and now that stock is stabilizing from where it was

in may. moving above the 50 day average, is that as a stop level. i think etsy is starting on the road to recovery as well. >> i understand that threes three names in particular their charts look particularly good. is this sort of a go ahead and greenlight for investors to get in at large cracks >> that is our take of it. i do agree, it was repriced for recession almost instantly. i think they have to be repriced for a low environment. this is going to be led by rear celebration of the economy. rates turn lower. the market is able to continue to rally

against that backdrop. i think it is especially supportive for those higher growth sectors like technology. >> nice to see you, thank you. do you like any of those pics? >> etsy i like. i think the technical thing i will leave that to him. this is a profitable company where expectations have been met. there is probably one more gap so they get cheaper. the stock went from one dollar and earning to 3 dollars and earning and four dollars and earning and now it is back at three dollars. i think there'll be one more guy this year. >> it is the rates here for

investors. if we decline too much, it could have the opposite effect, right? there is probably a sweet spot, to pull back a tenure treasury deal. >> it moved 15% on the 10 year period this hourglass time is broken, it's not moving. it is very distracting. one of the names i would throw in there is zoom. this is a company that is profitable. they will do $1 billion, and the stock chart looks very similar as a sign once we looked at. >> coming up, should we put a pin in penn's, we share what interest has been doing over the last few months.

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find rewards like these and so many more in the xfinity app. welcome back. they show pinterest down 75%.

>> was all a lot of movement that pinterest was trading nearly 3 times the average. one trader took up almost 59% of today's volume selling 80,000 contractors collecting about $2.55. that is nearly $2000 in premium. they will cough up another $140 million to buy the 8 million shares of pinterest. clearly someone is making a bet that we are near the bottom of some of these social medias. >> thanks. tune in for the full show on friday. show on friday. up next, final tradeand thinkors right there with you. to help you become a smarter investor. with an innovative trading platform full of customizable tools.

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hello can we go? i am going off the charts. plus, a deep dive into what went wrong. watch or listen live on the cnbc app. time for the final trade. >> 14 times, certainly value in the semi conductor space. i like it. >> i was talking about what was happening in china. i think it is a great buying opportunity. i think it is better on the

growth side. >> next week we will get those bank earnings. but the next week expiration is 1 1/2%. that is for you. tune in friday at 5:30. a friday preview potentially. thank you all for watching. "mad money with jim cramer" starts right now. my mission is simple. to make you money. i am here to level the playing field for all investors. i promise to help you find it. "mad money" starts now. hey, i am cramer. welcome to "mad money". doing my best to try to make you some money. call me, or tweet me,