case this year if you look at weeks when you have had a really bad december stretch, like 2018, look, 2019 was a good year. well, let's get the fed pivoting who knows. >> we may get some stabilization at apple. >> wouldn't hurt. >> that is mike santoli. does it for us have a great evening i'll see you back here tomorrow. "fast money" is now. right now on "fast," another sea of red dropping more than a percent the index on pace for the worst december ever. more to come in the new year plus, tiktok is on the clock even the latest roadblock for the video sharing app isn't enough to give meta a boost. the unstoppable stock lost its shine. so bad it's -- fill in the blank. we are back with another round of your newest favorite game traders have brought their picks for next year and the chart master is here i'm melissa lee.

this is "fast money. we're live on the desk, guy adami, steve grasso, carter worth 2 1/2 years of gains gone, vanished, kaput. the nasdaq breaking through the lows of the year it is 4% away from its pre-pandemic record and it's no surprise that the biggest hits have come to the biggest stocks. amazon, apple, alphabet losing trillions of dollars in market cap combined this year just a few trading days left in the year, are we in for more losses what does this tell you, guy, the willingness to drift lower into the end of the year. >> hi, melms somebody put on twitter, maybe this is the santa claus rally and maybe things would be worse. >> without him >> food for thought, right it says, listen, fundamentals do

matter don't fight the federal reserve matters. earnings and valuations matter and i'm glad you mentioned that nasdaq level, one that dan's brought up a number of times 9800ish where we broke down from in february of 2020. when covid hit by golly it sure looks like there's a bull's eye on that level. >> dan, you still think that level is the level to watch? that's, what, 400 points from where we are nowish? >> yeah. i think, mel, that there's a really good chance that the s&p and the nasdaq retrace their entire moves back to the pre-pandemic levels of the highs in february of 2020 and the nasdaq 100 made a new 52-week low today. i guess we saw this massive rotation from mid october to value and it's a bit more defensive name and out of some of the higher valuation sort of stocks i think it's really interesting

that it also happens to coincide with the move that we had in yields, right? we saw the 10-year u.s. treasury yield about a month and a half ago top out. that gave a little air, i think, to some of those sorts of tech names that have been beaten up so badly you have to go back an entire year, right? when the fed pivoted they were going to start raising rates aggressively to battle inflation. that was the last -- i don't know t that was the last call for a lot of these high valuation tech stocks that we're going to see deceleration in a lot of their growth metrics that had been pulled forward in the back half of 2020 and all of 2021 so it feels like it's kind of a book end to this period that we've been in over the past three years. >> it feels like the rates are on a trajectory higher we've gone up 40 basis points in the past three weeks or so, guy. that was a headwind for tech stocks then you have layered on the reopening of china everybody thought the reopening

of china would be a great thing not thinking china was going to rip the band aid off and spread covid all over the country in a rampant fashion. that puts supply chains, factory production at risk once again. >> i heard you posit that this morning at approximately i think 7:15 during your wonderful three-hour performance on "squawk box. that's exactly right think about what will that do to the inflation problems again, rates going higher in this environment should theoretically mean the economy is getting better. it does not mean that at all volatility in the bond market seems to be back, not particularly healthy environment in my opinion. i'll sort of layer this on to dan's point. you look at names like nvidia which traded down to 108 i believe on october 21st. i'm probably off by a couple of days subsequently rallied in a month and a half over 70% and now it's

given back effectively half that move think about a volatile name like that, and that's so interest rate and market sensitive. that's the environment that we find ourselves in. the so rates going higher, again, my opinion, this environment, is not any sign of growing growth, it's a sign of continued concern on the inflation front. >> here are a couple of stocks we'll talk about them later on in the show. two stocks that sort of fall into the cross hairs of higher interest rates not good, china potential more lockdowns not good either. tesla as well as apple apple in today's session was down another couple percent, dan. >> yeah. this one is about like, mel, the relative outperformance that we had seen of late versus many of its megacap tech peers it seems like there's a lot of investors hanging out. it was easy to do that it wasn't easy on valuations it wasn't easy on the supply chain issues, european demand issues but i think a lot of investors have gotten

comfortable with hiding out in that name and it's weeks like this that remind you that it's just another stock guy says that all of the time and we've been saying this about tesla and apple. when you think of how reliant they are on china for manufacturing and demand and you think of the supply chain implications in that, it's a difficult cocktail to swallow in my opinion if we're seeing wholesale selling and high valuation tech names, make no mistake about it, apple trading where it is relative to expected growth is a very expensive megacap tech stock. it makes sense to me it's making new 52-week lows as the nasdaq 100 is it's the largest stock in the nasdaq 100 to me i feel like the risk now is that the s&p 500 plays catch up to the nasdaq 100 because the rotation that we've seen in the value is not likely to play out particularly well in a rising rate environment when we

actually -- this goes back to that kind of theme that we've been talking a lot about this year, the potential for stagflation. what does that mean? that means valuations across the board are likely too high in this rate environment given the expected growth we have in 2023. the last point is that strategists who model earnings for the major indices have not taken down their estimates low enough that's one reason why we're going to have lower lows next year in 2023. >> steve grasso has finally joined the party what do you make of the selloff today. >> i apologize i didn't realize we started at 5 every night. people are selling off everything into -- i heard what guy said, i heard what dan said, i agree. it's just risk off into year end. no one wants to be -- if there was a santa claus rally or thought to be santa claus rally, i thought we were going to rip higher into year end that didn't happen when that doesn't happen, people say, you know what, let me lock

in miloszs and look towards the next year. when you start to hear mike wilson talk about earnings recession or the fact that the market can drop another 10 or 15%, there's no one that's chomping at the bit to get involved in equities right now so for me, it's sort of a wait and see and i think we've all been sort of on the same page that we're going to see this selloff really gain steam in the first quarter so what's the rush >> can you believe in, dan, a 9800 level on the nasdaq but still believe in a back half of the year rip roaring rally which i think is basically consensus on the street. not necessarily the 9800 part but that the first half will be tough sledding and the back half is going to be coming up roses >> yeah. that makes me nervous, mel we've been talking about the potential for that because it coincides if you think of late january, q4 earnings which is when a lot of companies are going to offer their guidance for the full year

if they offer it at all. that's the opportunity for a lot of strategists to readjust their models and give some new estimates. so i guess the fact it's becoming consensus and it comes around the time we'll have the next fed meeting on february 1 ths, that makes me nervous when you think about the big rallies, the one that came in mid june to mid august and the one we had from mid october into just a few weeks ago, they usually coincided with really poor sentiment and expectations that the fed is going to do something. then when s&p earnings for the most part weren't as bad as when people expected. could that set up in the scenario in january the lower we go right now is the higher that we rally into those events certainly. that's not the pattern to steve's point, it's like, listen, it's going to be a rocky

yea year i think this year is going to remind us of 2002. no one really wanted to believe for most of 2000 the unwind of the unusual fiscal and monetary stimulus that we've had over the last let's call it 2 1/2 years is going to take longer than a normal recession should happen. also, the stock market is just really not in a position when you think about it where rates are and what the fed is likely to do to kind of combat this this does not encapsulate what we're in for in the next six to nine months. >> the theory here on the desk is analysts and strategists haven't taken down their earnings enough so far this year how would you think about, guy, china reopening factoring into this is that a wait or is that -- i mean, is it a headwind or a tailwind >> yeah, it's -- i think i

could -- i'm not ducking your question, but i think depending on your dogma you could answer it either side you say it's extraordinarily bullish or it makes the fed's job that much more difficult, right, because it will add to the demand part of the equation which will make commodities go higher which would make inflation continue to be high. so i don't know the answer i'll say this though, there is geopolitical risk that seemingly is playing out in the form of china/taiwan this unholy union theoretically between china and russia some of those factors that were a problem this time last year are still a problem now. i think the reopening of china is mitigated by the fact that the rest of the world is slowing down in a meaningful fashion and by the way the rest of the world seems hell bent on raising rates and fighting the inflation they've longed for for so long

>> china/taiwan. steve grasso revisit that you think that china is going to invade >> so -- well, i think that the chances are -- rose. i know my friend guy adami was on, he's just as big of a conspiracy theorist as i am. if china lifts the zero covid, they're more likely to invade, in my opinion. i was trying to make that connection and the connection is they want to be seerch by the world as strong. if you have everyone locked down, you're not strong. so the fact that they're trying to rush this lifting of zero covid leads me to believe that they're going to inch closer to that invasion in 2023. >> well, a top economist is taking on wall street pessimism. mark zandi is tweeting i'm confused by the overwhelming

consensus that recession is all but inevitable this view invariable whether i rests in part on the yield curve inversion. fair enough, it's a prescient recession predictor. but so too is the stock market mark joins us now. good to have you with us it is rare that we have an economist that says listen to the stock market and not the bond market but you think there are too many distortions in the bond market right now? >> yeah. i think the message is muddled from the bond market we're talking about the yield curve, long term rates versus short term rates there's a number of factors i think that are making it difficult to interpret but the most obvious is the fed's quantitative easing. just to give you a sense of that, the -- if you look at the balance sheet, the fed's balance sheet today, think have roughly $5 trillion of treasury, mortgage-backed securities with more than ten years on the balance sheet. that's more than double what it was back prior to the pandemic

$2.5 trillion increase so you do a little bit of arithmetic, you can pretty much explain away the conversion of the curve by that fact alone yeah, i just think the -- i would not rest -- i would not be a slave to the yield curve, certainly not in the current environment, given all the distortions that are possible here >> yeah, mark. this is not meant to be glib in any way, but i think for 10 to 12% of our citizens, they get insulted when they hear people like us talk about recessions. for them, this is late 1920s, late 1930s environment we tonight talk about it, but it's out there, no doubt about it my question to you is let's just say for the sake of argument we're in one or going into one what changes i mean, i think we all feel how things have slowed down. what does it matter if its definition is met? >> i'm not sure what you're -- i'm not trying to be glib either but i don't understand what

you're saying. the unemployment rate is 3.7%. >> right and there are people waiting -- and they're probably -- yeah and there are probably 12 million people in the country wondering where their next meal is going to come from, have to decide whether or not they're going to feed their kids, pay their bills, heat their homes. so the easy money for years that have left them in the dust is now leaving them in the dust the other way. >> yeah. >> my point is those people watch this and they say, recession? we're longing for a recession because for the last nine months we've been in a depression i'm going to use the word to make myself abundantly clear >> no, no, you make a great point. i'm painting with a very broad brush across the entire economy across all 130 million american households so, yeah, low-income households are getting crushed here for them this is a depression. for the overall economy, all 130 million american households, it's not you know, recession is a broad-based persistent decline

in economic activity broad based, lots of industries, not just housing and manufacturing but a lot, and persistent means over a long period of time the tell is employment, jobs, unemployment that's not consistent with the idea that we're in a recession or even that we're close to going into recession at this point we're making a boat load of jobs and keeping unemployment low so i think that's histrionic to call this will 1929, 1930. yeah, certainly there are a lot of folks struggling here, no doubt about it not to make light of that, but in the aggregate the economy is growing, not in recession. >> mark, we're just about out of time i was wondering what you were thinking of the reopening of china and how it has taken place and how you see it on the one hand economic activity will pick up and that will be inflationary or that the way it's reopened and the way

it's been handled is going to cause supply chain issues and that is, too, inflationary >> yeah, you're right. you can take that in two different directions my sense is that right now a soft chinese economy is probably not such a bad thing nor the u.s. economy it's keeping oil prices, commodity prices down. the most significant threat to the economy, the thing that would throw us into recession, is if oil prices spiked. if we go from $3 for a gallon of regular unleaded which is where we are today, back up to 5, which was the record high in june, we are done. we are going into a recession pmpt those low income american households, they would be completely hammered. they'd pull back in and we'd go into recession in my view, that's the most significant thing, certainly at this point in time. >> mark, thanks. mark zandi of moody's analytics. grasso, interesting. last time we spoke to paul sanke

he was talking about going to 4 po 20 and that would be $5 a gallon we've seen that be around $70, the upper end is is $30. i think we're not going to break out of that range any time soon. i don't know if we'll break 100 to the up side, but if you look at china demand, if they're looking for another -- if they're going to add another million barrels per day as far as demand, that usually equates to a 10 to $12 price in oil. so you look at where we are. oil, mid 70s. coming up, more on energy. crude and what impact will this have on big oil. the party stopping on tiktok

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money. crude oil dropping on concerns that a surge in covid cases in china. eqt, apa, coterra energy seeing losses deeper than the broader markets. guy, your take on this selloff >> yeah, i understand it i get it people have a hair trigger now in terms of energy stocks. they see what's going on in the broader market they don't want to get caught up in a commodity beet both steve and dana pointed it out. these stocks have held in there. exxon closed at 108. the all-time high was 1/14 oih flirting with 1300 i would push back and say if crude oil can sustain these levels, i think energy stocks are okay here and i think energy stocks will be okay in 2023. >> meantime, one option trader is betting more than a million

dollars. dan, what do you see >> this is in the xle, mel guy just mentioned exxon exxon and chevron make up more than 40% of the weight of this etf. average daily volume with puts outstretching calls. there's a large trade way out of the money when the etf was trading 86 there was a buyer of 30,000 of the march .65/55-put spreads at 55 cents that's down to 54, 55. that's down 35%. if you look at a one-year chart, you see that'swhere the xle started the year here. this is not like an aggressive bearish trade. that would be something closer to the money in the xle. this looks like a sort of disaster hedge for somebody who's maybe a long basket in the stocks at the xle looking to stop themselves at the 52-week

close. >> grasso? what's your take >> yeah, so guy, you know, framed out exxon mobil, chevron and the double pops. exxon, it took seven years to make a new high. that to me is bearish by its nature but looking at them on a chart, they all came in, both of those names came in. for the last two years we've seen energy outperform and the disconnect is the commodity came in, the equities went up i think this year you see the commodity go higher, the equities fall judging on the charts >> all right for more "options action" be sure to tune into the full show friday at 5:30 p.m. eastern time there's a lot more "fast money" to come. here's what's coming up next. >> announcer: the clock's ticking on tiktok but even as the p bands call, what does it mean instagram can't reel in the

games. plus, who has two thumbs and knows how to use them? the chart master carter's here to give his thumbs up or down for the trader's stocks they're so bad they actually look good. you're watching "fast money. live from the nasdaq market site in times square. we're back right after this.

welcome back to "fast money. another blow for tiktok. now banned on official devices

it's not providing a boost to meta that stock is down another percent bringing the losses to more than 66%. i thought that if tiktok was going to go away, that's going to be all good for facebook. i should say meta and its properties, dan. that was the tenant of the bull thesis is it because it hasn't been completely banned or obliterated that it's only on the road to ban right now? >> mel, talk to some teenage girls. when congress doesn't get to watch their tiktok on their government-issued device, that's one thing. when it happens to a different subset of our population, that's going to be a whole other story. i'll just say this the you know, a pillar of the bull story really doesn't have anything to do with tiktok, it has tiktok moderating against the market share gains or the

time that people are spending on apps like having that go down and then meta, facebook, figuring out basically how to better monetize some of the properties that they do have, right? that's really the story. when i think about 2023 earnings, they're expected to be down year over year. 13%. that's after they were down nearly 35% this year with sales about, you know, flattish or growing at lowell single digits. the stock trades about 15 times. so it's down about 60 some percent on the year. here's the issue it's up about 35% or so from the lows that it made a couple of months ago so i think right now it's kind of discounting the potential for the rhetoric heating up about tiktok i do think, and i know guy said this, you see up 10% in a flash. banned what does banned mean? does it mean a forced sale it will take a long time is it the thing they can

mysteriously take off your iphone no it will take a long time for facebook and meta, this is about what is their next ten years going to be? in 2023 it's going to be less what happens to tiktok and more what they choose to kind of spend their money on and really -- you know, because, again, this is not going to be the sort of thing that it's going to be settled in 2023. you're going to be buying facebook off of what are the expectations for 2024. >> this seems like it's sort of a cloud, possible regulation that's always been sort of a cloud. nothing really happens in terms of a decisive stock move higher or lower based on that fear. the existential question is what the heck is meta is this better in the meta verse, is that the right way to go at this point is that what investors want here dan, i mentioned 15 times -- >> no, clearly. >> -- is that worth it here? >> yeah, clearly investors did not want that because effectively when they did make

that pivot that's when things started to go pare-shaped for the stock. the m30% rally is somewhat pres debted on the fact that they ratcheted back on spending on facebook dan's right, do you believe in the vision and the next 5 to 10 years in the company my point and clearly incorrect, i thought a ban of tiktok, knee jerk would be 20% in a day or two for facebook you mentioned it it's not really moving on this maybe it needs to be more severe in terms of tiktok then the ancillary would be understanding china bans some of our technology and companies what's the tit-for-tat on the back of something like that? so a lot of things left to be decided. i'll say this. a name like snap with those headlines goes from $8 to $15 in a heartbeat and it's still down significantly from the all-time highs. you try to get the trading

theses out you try to get the tail risk or 25 to 35 percent >> the tit-for-tat for banning ticktock, that's a mouth full, maybe apple comes to mind. something about its app store, steve grasso >> yeah. i agree with that. there will be some type of tit-for-tat but i think the real issue that we're dealing with right now is that large cap tech stocks can't get out of their own way. so guy could be right. dan could be right if there was a ban on tiktok, you could see these other stocks, specifically i think snap would just bolster higher immediately. that thing would have a rocket tied to it but we still have to deal with the headwinds of the overall market selloff if the overall market selloff is still happening and they're

hitting road stocks, then it doesn't tell them no matter what ruling happens on tiktok, you have to get out of the weeds a little bit no one knows what the meta verse is, that's why we're hearing about splitting the stock into two, keeping one as the meta verse, one as everything else, the core that would really lift the stock, in my opinion, but also we have to wait until the smoke clears it doesn't matter what happens with tiktok. until we get out of this headwind growth, sell everything growth rising rate,ing into matters. coming up, the 2023 just around the corner. we are playing a new year's version of would you rather? this is the ultimate one apple versus tesla stick around what name our desk expects to outperform. plus, it was a long december for consumers. get n.

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welcome back to "fast money. stocks taking it on the chin the dow tumbling 366 points. southwest among the worst individual performers dropping more than 5% shares of the airline getting crushed for a second day after massive weather-related cancellations. stock is now down nearly 11% this week. a couple of megacap movers apple dropping another 3%. the ninth day of losses in the last ten sessions while tesla managed to snap a losing streak. elon musk telling employees not to be bothered by the stock market craziness and he believes in the long term tesla will be the most valuable company on earth. both stocks have been crushed this year losing more than $1.5 trillion in market cap since january. as we head into the new year we

thought this would be a good time for a round of would you rather, apple versus tesla the i'll start it off with you, guy. >> look, in this game now that apple's basically trading at a market multiple. if you think $7 next year, 18 multiple, you're right there at least it's reasonable on valuation. you know there's probably some light at the end of the tunnel so my answer is absolutely apple. danny moses came on this show a couple of weeks ago. talked about tesla getting to be a better short that's proving to be somewhat prescient. in this game it's appleby a landslide. >> i get the multiple thesis, but some could argue that tesla's valuation right now looks cheap, about 27 times forward. steve grasso, what would you say? >> yeah, so i looked at it as risk/reward. i own apple, i don't own tesla

yet. i'm thinking about buying it i'd like to see it at $100 level. would you rather, i would rather go with tesla. if you look at tesla versus apple on a growth scale, tesla has to win out on all fronts and as i said, the risk/reward, if he does anything with battery power, doesn't have to just be for the car, could be for anything, could be non-automotive, he has a number of levers that he can pull, and if he says next year that he's done selling the stock, i don't know how much of a weight that was alone, the fact he would be a seller to fund the twitter acquisition. i think on all those fronts as far as growth, i would go with tesla. >> it seems like a lot of things that are bogging tesla down, there are a lot of issues. ditto for apple. the in terms of a prolonged shanghai shutdown, that goats

through, we see through that because it goes away as covid gets better in china, dan. i mean, things could get better. interest rates okay i'm not even going to bother i don't know why i even try with you. >> this is important, mel. i mean, think about this tesla has less than 10% market share in evs in china. there are so many local manufacturers that have, you know, just much better like, you know, footing there. to me, i don't even think it's that big of a growth engine for them like so much of the valuation is tied up with that. don't worry about the stock market kra izziness. this is the biggest single stock crash in the history of a stock market in a month or two things like this just don't come back it's just not going to happen. i think, i have a he abouten saying this for a while, there's a good chance he's not going to be the ceo by the end of next

year this company gets to be valued as a car company that has slowing rowth. maybe they won't have the craziness that exists with the ceo right now, but maybe that's a good thing i didn't buy tesla it probably is going to rally pretty soon, pretty sharply. ment find the self somewhere back and like the round trap to the pre-pandemic pies. new year new consumer. recession fears aside, which retailers are best positioned to capture the most resolute shoppers then, so bad it's -- well, what exactly is it? this entertainment stock is up next >> announcer: ring in the new year by joining cnbc pro

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welcome back to "fast money. the holiday shopping season may

be behind us the real test for retail could be behind us shoppers heading back to stores in january for returns, exchanges and with gift cards in hand let's bring in cnbc.com's melissa repko. january is the time you go back to the store and may purchase something else when you are exchanging the size of your slippers and so on it feels different because you layer on the dynamic, melissa, of the retailers having loads going into the holiday season and needing toget rid of it. >> exactly, melissa. the they have to prove they're not going to exit the fiscal year with the same problems that's plagued many of them, which is a lot of stuff and stuff people don't buy in the weeks ahead we'll see more urgency to get rid of all of that. the that's why these final weeks are important. especially from some of the more distressed retailers that want to get rid of that stuff and not

continue to have it haunt them. >> in terms of the analysts you speak to, who is most at risk. >> target has been one that's been gradually working through the excess inventory it was one of the first ones to warn it was having trouble they did build up a lot of inventory. did they sell it lululemon reported that its inventory was up 85% year over year recently and of course that did cause a selloff for that company. a little bit of a concern whether it could meet the high holiday demand or if they'll wind up on the sales rack. we heard from walmart ceo doug mcmillon that price sensitive customers could benefit the company. the they could be coming in for lower cost items and january, we

feel the pressure of the holiday spending spree. >> you feel a little different and less rich when you get that bill melissa, thank you melissa repko. dan, your favorite retailer? >> you know, it's interesting, mel. you look at like a t.j. max trading very near the 52 week highs. nice run into the holiday season i think there are some discounters that are going to do will in the consumer environment we're headed for in 2023 i some of those for the better part eof the year. they were calling for the end of the department stores. i do think it's going to be a good time to be a stock picker

look at what nike did. >> yeah, it's going to be truly make it or break it to melissa's point. if they emerge with a lot of inventory, guy, i don't know how you get rid of it in february. >> lululemon said -- i'm paraphrasing again, 84% year over year increase in inventory was somewhat planned i would push back saying there was no way that was planned and the stock is paying to are it. valuations matter and you're seeing it in the stock costco, which by the way is lower than its all-time high, very quietly it's getting to numbers where you can almost justify it the 430 low or so for may sticks out. if you can get costco, 4 25r to 430, that's a great trading option. so bad it's horrendous

we'll ask the chart master if there's any hope for this electric automaker plus he'll do more for two other picks. "fast money" is back in two.

welcome back to "fast money. markets closing in 30 stocks in the s&p down 50% or more but are any of these being down names worth a look in the new year let's start out with the game, so bad, it's blank we'll let the players pick their favorite first up, grasso, which stock do you think is primed for a turn around >> disney, so i said this on a technical basis, carter can comment on this, this is at pandemic lows. i understand the headwinds going into recession you can't tell me that it's going to be under the same pressure that it was at during the pandemic load. that's number one. number two, parks are going to be around the $28 billion number as far as their contribution to

revenue. i think that probably goes back. number three, if you look at bob eyeing der coming back, he's made me bullish on the name but the maybe will get them. the with china opening up again, that will be a huge source of revenue. >> carter, is. >> stephen: grasso right >> sums down that are important points he was $79 in march 18th of 2020 the it's continued to detear i don't remember right my hunch is that we kigs the

marve 18th, we get down to sub80. >> dan, you're going to be up next what stocks? this is when it was down 85% from the all-time highs. it has a $16 billion market cap. 13$13 billion in debt. i expect next year a massive rally. >> carter, your take on rivian >> thumbs down one-way trend for now. bottomed early in may at 19 and it's been doing so well but to undercut the may low is a problem. >> just to recap, carter's given a thumbs down so bad it's bad to both disney.

the next contestant are you saying >> i'm laughing because i was just texted looking at dan's room you think about it, it's lost a trillion dollars in market cap which is astonishing along the way a name that's now trading a year low, 50% rally in the stock. we're going to get into earnings within the next three or four weeks. i think the setup is going to be good amazon is so bad it looks good to me. >> do you agree? >> no, i'm a thumbs down you're making -- >> thanks for coming in. the thanks for coming in today, carter >> >> i would go with meta. it's so bad it looks good.

>> what's good it's been going up >> i like it when carter just racks it out >> thank you dan's room, by the way, seems very placid which doesn't really match his personality >> hotel >> a very lovely room. up next, final trades.

the sign for the final trade. steve grasso. >> i'm going to go with ishares india etf. they're adding $1 trillion to gdp every year to year and a half, india etf. >> dabble nathan >> you know what, carter doesn't like guys. i like amazon here >> guy >> melms, tremendous job this morning. will you be back tomorrow morning in the 6 to 9 a.m.

"squawk box" show? >> you et. i will be there. ment. >> it's amazing. yo man's work. i don't know how to spell it, i don't know what one is but you are definitely be welcome to this cnbc special "taking stock. jim is off tonight, a deep dive into technology the sector hit hard again today. what is new? it's been a big theme this year, what everyone seems to love last year now tossed away this year seven big tech companies, amazon, apple, alphabet, microsoft, tesla, meta and nvidia have lost 5 triio