up and then you have iac, which might not seem like a gaming play, but part of what did well for them with the 16 p.5% staken mgm reports they've got. cpi tomorrow, big data that's going to do it for "overtime. "fast money" begins right now. right now on "fast," debt ceiling showdown the president meeting right now with congressional leaders will today's sitdown grease the skids for a deal or make a default more likely? plus, disney on deck the media giant reporting earnings tomorrow. the stock's up almost 18% this year, but has been stuck in neutral for the past month so, does bob iger have some magic to reignite disney's mojo? and later, what's got shares of carvana all revved up a 65% rebound over the past week i'm courtney reagan in this evening for melissa lee, this is "fast money" live from the nasdaq market site

on the desk tonight, tim see your, karen finerman, dan nathan, and guy adaadami. president biden meeting at the white house with congressional leaders. they've been at it for just under an hour. the white house pool was in the oval office. the president said he wouldn't take any questions, and ignored reporters asking him and house speaker mccarthy if they would cut a deal to prevent a debt default. investors on edge. the major averages closing the day slightly lower the dow now down six of the last seven sessions let's get more on today's meeting and the behind the scenes wrangling on the debt ceiling from nbc white house monica alba. >> that's right, courtney. the white house and the president firm, they don't want to be negotiating at all when it comes to raising the debt ceiling.

they believe is co this is congress's constitutional duty. so, this is a meeting that, of course, is taking place face-to-face and significant in the fact that it is occurring, because for weeks now, the white house has said they didn't want to come together to negotiate on something they believe is essential to do, because of the repercussions of a default, which, of course, has never happened before in american history. so, during this meeting, we know that the white house is going on, saying, they don't want to pursue a short-term extension, something that republicans have also taken off the table for now. it seems speaker mccarthy telling garrett haake earlier today they don't want to do that, they want to deal with it right now but both sides are completely dug in, into their respective positions. so, the goal of this meeting today is to find a little bit of common ground, but when we look to any potential off-ramps, it is unclear where this is going to go, and the calendar is squeezed down to just a couple

of weeks with the president set to go overseas to australia and japan for much of the next week or so. and so, that will, of course, then again make this even more difficult to try to get something done, but today's likely the first of several talks. s. so, we'll see when they commit to speaking again. courtney >> monica, thank you for that update guy, what do you make of this? the markets quiet today as we're waiting to see if we'll get any resolution, though it seems it's going to be an 11th hour decision, as it always is. >> as long as the markets stay where it is -- this is one of those times where our world collides with the political world and i'm sure they'll watch and say, you know what, stock market doesn't seem to care, so, there's no reason for either side to sort of act questionesque. if something starts to break in our world, cooler heads will prevail. until something like that happens, i think they're going to continue this thing up until the 11th hour, which it turns

out it will be 3 1/2 weeks from now. i think at some point, the market's going to start to behave that way. >> dan, what do you think the market is expecting out of whatever the resolution will be? >> listen, i think that -- just look at the vix right here, and it doesn't suggest that there's too much fear. look where the s&p 500 is trading right now. so, like to guy's point, there will be some sort of agreement, i don't think it will come with spending cuts. if you think during the trump administration, the debt ceiling limit was lifted three times there was no deal on that. this is congress's responsibility i think you have a speaker in the house who has got very little control over his caucus and they're going to dictate that he pushes it as far as he can here and ultimately this thing will get resolved, because i don't think it's in anyone's best interest to have our country default on its debt, not being able to pay its bills and all the repercussions that would happen so, to me, i think it's a bit of a side show until we get there >> karen, i don't know that any of the lawmakers are paying attention to what's going on in

the markets. do you think they are? >> well, they do trade stocks -- >> we know that. >> they're very focused. i do think they get -- they get nervous when they're constituents get nervous and to the extent that their constituents are invested in the market, i think that they do care about that. but they feel like, oh, we got all kinds of time. i mean, you know, may 9th? we got all kinds of time, why do we need to do anything i think it was good that yellen sort of, i don't know if it was artificial lily or not, sort of made this june 1st deadline. i don't know what it was going to change if it was later. hopefully we'll get something done, i'd be very -- the least likely outcome today is we see anything productive. >> tim, do you have any concern in what's going on in the treasury market? >> four-month bills trading more than the six-month t-bill. yes. and i think the treasury markets are more susceptible and certainly -- look, the stock market is showing no sign of concern on this. i'm going to say, i think stocks

haven't priced in one iota, whatever an iota is, not one basis point, not anything. >> and that's concerns, because we're coming out of a period where we've had the best of the earnings that we could have seen from the most important companies in the market. and so, i think that the bond market is telling you more about where leading indicators are in the economy. bond markets are saying, we are moving towards the part where the economy will significantly weaken i -- i just feel like markets have not priced this in. but like everybody, i expect, you know, an 11th hour decision. especially because the public is of the view, whatever our politics are, i think the public is of the view is that each side is culpable here and that may be why something is actually more negotiable than it appears right now. today, i think, as theater, we're going to hear all about, maybe for the next hour, what's going on in washington, and it's fascinating, but i think markets

should be concerned, just because i see us up near the edge of a -- really a six-month rake on the s&p, around 4200 maybe if we are holding this range -- at some point, you consolidate that level the bulls will tell you you are setting the stage to take it through and challenge 4350 we're coming through earnings ey strong numbers by the most parent companies, and yet here with this issue >> guy, do you think the market cares more about what we're going to hear about inflation and the cpi and the ppi later this week? >> cpi is a huge deal. we continue that trajectory lower or do things stabilize and make the fed's job harder? and, you know, again, a i'm notn economist -- >> be careful on both those. >> maybe one or the other. cpi is going to be -- i think it's going to be hot i think ppi is going to be weak. people will say unmateitigated

no you get a hot cpi and on thursday get a softer ppi, that's not a great environment to be long stocks in, in my opinion. >> dan >> yeah, and it comes back to valuations, and it comes back to where rates are and your question about cpi and ppi, if those hang tight here and we're really worried about inflation with unemployment at, you know, record lows, 53-year lows or whatever, 3.4%, all that does is speak to me about a stagflationary environment with a whole heck of a lot of uncertainty about what domestic, economic policy here, okay, like -- let's be very clear. i think -- we don't mean to sound really complacent as this debt ceiling thing i mean, listen the risk will come all at once if there is a massive impasse here, you know, ultimately, the markets will start pricing it in we had a vix that was above 20 last week, but it made a new 52-week low. it will be back at 23, 24, something like that, like that so, i guess what i would just say is that if we're in a stagflationary environment here and we have all this

uncertainty, geo-political uncertainty with what china might or might not do with taiwan we're going to talk about chips later with this global foundry situation. i mean, that situation could make what happened with russia invading ukraine and the disruption of supply of natural gas and crude that we had last year that was really one of the major reasons for the inflationary spike that we had, that could make that look like just -- like a child's game, if you think about the disruption to the chip supply chain i think there's a lot of risk lurking out there and the stock market is not pricing it, but to tim's point, there does seem to be some trepidation in the treasury yield market. >> the semiconductors and the higher growth parts of the market have been underperforming the s&p. if you are looking for market direction, i think you at least use that as a guide. if you look at the smh relative to the spy, you see it running up into that resistance around

30.30. looking at a live shot of the whousz right now the meeting between the president and congressional leaders has ended. we will bring you any comments as soon as they happen for more, let's bring in the former chief economist at the white house national economic counsel. he's now chief economist at smbc joe, thank you for joining us. what are -- what are the risks at stake here when we're looking at the economy if we do you in fact, default on our debt what could it cost us? >> there will not be a default, and by default we need technical default, like we will mess an interest payment i do not expect that to happen we've been through this a couple of dozen times since the early '80s there will be an agreement, but as everyone basically on the panel said, it may be the market pushing washington to actually make that 11th hour decision, and it will likely have to come from much lower equity prices, because i can tell you, being in

d.c., congress folks don't really know the difference, or the treasury market, how the bell curve should trade relative to the belly or the longer end of the yield kurcurve. but as everyone said, the market is well bid. but i fear that this will drag on late in the month and there will be a deal but only after markets really kind of tumble and force both sides to negotiate. >> last time this happened, or we got close to this, was 2011 do you fear that is something that could be in the cards that time around, as well >> it could, if i gets really messy. i don't think it's that likely for the simple reason that the rating agencies put the downgrade -- >> joe, i'm going to have to ask you to stop for just a moment here we actually see kevin mccarthy and mitch mcconnell are walking to the podium after this meeting has ended inside the white house with president biden we're going to listen into their remarks and see what they have

to stay here and if we've gotten any closer >> came down to see him, saying let's work together in a responsible, sensible way that we can lift the debt ceiling and find a way that we can curb this increasing debt that is effecting every american family with inflation and now three banks of our four largest banks have closed, in the debt problem. nothing has changed since then the only thing that has changed is the house has raised the debt ceiling and passed a bill. that's why we had a meeting today. everybody in this meeting reiterated their positions they were at, i didn't see any new movement the president said the staff should get back together, but i was very clear with the president. we have now just two weeks to go if chuck schumer can pass something, we'd go to conference right away and solve that. but i don't think chuck schumer can pass anything. they haven't dealt with it unfortunately, the president has waited 97 days without ever

meeting. every day, i ask, could we meet, and he said no the house has raised the debt ceiling in a responsible manner. curve ouent this simple question, does he not believe there's any place we can find savings he signed a bill that the house passed, became law, that the pandemic is over we have $50 to $60 billion that have sat out there that have been appropriate rated for more than two years that we can pull back and save the taxpayer money. we can put in growth packages that help us economically. cutting the red tape so we can build things in america again. we can have items that he actually voted for like work requirements that just passed in wisconsin, with 82% of the vote. to help our supply chain get stronger i would hope that he would be willing to negotiate for the next two weeks so we can

actually solve this problem and not take america on the brink. >> well, as i think all of you know, i've been through a few debt ceilings over the years let me first make the point, the united states is not going to default, it never has. and it never will. however, elections have consequences we now have divided government we didn't have a divided government last year in 2019, i told president trump, who was no fan of speaker pelosi, that they needed to work it out why? we had divided government. the solution to this problem lies with two people president of the united states who can sign a bill and deliver the members of his party to vote for it, and the speaker of the house.

there is no sentiment in the senate, certainly not 60 votes, for a clean debt ceiling so, there must be an agreement and the sooner the president and the speaker can reach an agreement, the sooner we can solve the problem. >> mr. speaker -- >> yes >> did the president tell you there were any spending cuts that he would be open to >> well, i asked him numerous times, are there some places we can find savings? he wouldn't give me any, so, i'm hopeful that we'll be able to find them. you can't spend more money, which he budget does, than the pandemic they added $6 trillion when they were in the majority and what happened we got inflation we heard every family in am america. i think the best thing we can do is find places that we can eliminate waste, find places that we can grow this economy, and that's exactly what the house bill does. look, i would have loved to had

spent from february 1st on working together and ne fwoesh yating something unfortunately, he would never meet with us so, i had to look for things that democrats had agreed to before like senator manchin believes we should cap the growth going forward, so, we would take the next ten years and we would spend more each year, but only 1% that would save us a lot of money. we would find savings like covid money, bringing it back. we would find ways to grow the economy like lowering the cost of energy, but at the same time, changing the red tape on the permitting reforms so we can build things again i thought that was a common ground idea that we can all get together on. so, we had made sure that we would about go into default, so the house raised the debt limit. and also had growth for the rest yes? >> was there movement forward -- do you feel confident that that june 1st deadline -- >> i didn't see much difference

in the statements from the president or from chuck schumer for that effect. i mean, chuck's whole idea before was to take us to the brink and someone's going to have to break, right i don't want to play politics with this. i think this is too important. that's why three months ago, i came to the president. can't we find a way? i know we're both going to have to give and take that's the way the founders have created our government a house, a senate, the executive branch so, let's sit down together, find places we can agree upon, and get this done. because they ignored us, we had to go on our own and we passed a bill to do that. yes? [ inaudible >> well, the house made sure we wouldn't have default, so we raised the debt limit. now, the senate hasn't done anything, that would come down, really, to chuck schumer and the president. the house made sure we wouldn't default. we are the ones who raised the debt limit we've sent it to the senate.

we've sat with the president, i've tried to, for 97 days, he's said no. i think the only reason we are actually here today is because we passed something, but i hope -- you only have about two more weeks to try to get this done >> if you are not able to prevent default, are you prepared to -- >> well, i don't see how we would own it if we raised the debt limit the house raised the debt ceiling, the senate has done, and the president hadn't negotiated so, i find that very odd yes? [ inaudible the first part, and i'll turn it over to the leader, the staff will get together and we'll get back together, the principles, on friday. >> all i can tell you how it was

done in 2019 after i told president trump he didn't have any choice but to deal with the speaker, he designated his secretary of the tre treasury, discussions began, out of that was the debt ceiling increase and a cap proposal that lasted for two years so, i come back to where i started. the solution is between the one person in america who can sign a bill into law, and the speaker of the house and sooner they get together, the better if they get together, the bill will pass both the house and the senate on a bi ppartisan basin >> leader mcconnell clearly said the united states will not default on its debt. can you say the same, that the united states will not default -- >> yeah, because the house raised the debt limit. i'm speaker of the house, i'm not the leader of the senate, i'm not the president.

so, your question is, i've done everything in my power to make sure it will not default we have passed a bill that raised the debt limit. now, i haven't seen that in the senate, so i don't know. yes? >> not going to do so with guns to the head of the american economy? did you reiterate that today -- >> well, what's interesting is, i would never want to put any gun to anybody's head, that's why i came february 1st. i sat out here i want to have something responsible, i want to have something sensible and i just say to you and the american public, would it be wrong if you took hardworking taxpayer money and you had billions of dollars appropriate rated for a pandemic that is now over, why wouldn't you pull that back would it be wrong to put some control? remember what we're talking about -- a debt ceiling is like your child having a credit card. we reached the limit we're responsible for paying it,

but would you just raise the limit without seeing how you're spending your money? that's all we're talking about so, i understand that the president has to sign it, and it has to pass the senate so, why couldn't we, for the last 97 days, talk about this? why would it when a president, who was vice president before, if you look at all of his quotes, this is a man who prided himself, they called them the biden negotiations this is a man, president wbiden, when he was senator, he voted against debt ceilings because he said they didn't cut enough in spending this is a president who when he was vice president joe biden, when it was a $14 trillion debt said, we have to do something about this big debt that we have it is now $31 trillion i think every single household believes, you need to be able to do something responsible and sensible and that's what we've been trying to do for the last three months yes? >> what gives you that

confidence after this meeting -- [ inaudible when you said it will never defaulted, it never will >> look. the united states of america is not going to default we are having a debate here in conjunction with raising the debt ceiling, as to whether or not, after dropping $2.6 trillion on the american people in the last congress on a partisan vote, we ought to have at least some restraint on our spending related to the debt ceiling. and -- this is not unusual, we've been here before, debt ceilings have frequently carried other measures what we have here is, we're running out of time. and it's time for the president to get serious and to sit down with the speaker and get a solution

>> we're going to go back to joe, we just heard remarks from the stpeaker of the house kevin mccarthy and mitch mcconnell i think the quote from mccarthy was, quote, no new movement. a lot of fingerpointing, which you might expect in these days of very bipartisan politics. what do you do now the leaders are going to meet again on friday. >> right, so, speaker mckcarthy they're going to meet on friday. is that both parties or is that just the speaker's staff that to me wasn't clear. if they are all meeting again on friday, excluding the president, that's obviously positive, because the conversation keeps going. but again, it seems to me, given the fact there's been no movement, there's just nothing to suggest this isn't going, unfortunately, to come down to the 11th hour. and that's a worry though i don't expect there to be a default, the markets, which are going to push congress to do

the right thing, but just, we're not there yet and that's my fear >> i hope that that is true, janet yellen called a default a, kw economic kas ss ss stosca as th. we don't have any other movement on these negotiations. joe, thank you tim, what do you make of what we just heard >> it's political brinksmanship. the lines are straight out of central casting. they really are. and on some level, no one really cares. and again, 97 days or 15 votes, i mean, you know, you look at mccarthy's world, it's -- it doesn't print well i would just bring it back to markets. i would also bring it back to the debt markets and the treasury markets, which, on some level, a lot of investors believe, if you look at the inve inverted-ye ed yield curve, gett

backe to fed fund us 150 points of cuts over the next year, which i don't think they will do. so, i just think that markets don't really know what to do about washington and based upon past history, i don't know that markets are supposed to do a lot here i really don't i think it would be an opportunity if they did based upon that alone. what worries me is interest rates and the expectations for the fed to do something i don't think they're going to do. and cpi will show what the r payroll numbers did on friday. >> a lot of questions out there. we're going to head back to the white house for the democratic response from the debt ceiling meeting. and after the break, names on the move in the afterhours the details from those quarters are coming up next "fast money" is back in two minutes.

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welcome back to "fast money. we've got a trio of earnings movers airbnb, wynn, and affirm let's start with wynn and

contessa brewer. >> hi there, courtney. wynn results so confident this year, it has returned to paying a dividend 25 cent as share that's what craig billings led with on the earnings call. and macao results here tenant retail sales increasing 60% against the first quarteese doing. just last week, on the golden week holiday, wynn got double the vip turnover that's the amount of money the casino takes in. double from golden week 2019 vegas and boston also trouncing expec expectations billings acknowledged there are macro issues high inflation, bank failures, increasingly difficult year over year costs, but still, las vegas set an all-time record in adjusted property ebita. that is the most important metric of profitability in gaming b billi ings expects to set a recd

for group business this year, remember, karen, guy, you guys were talking about that and if that would hold true and all of that before international visitation fully rebounds they are still waiting to see if the chinese tourists come back >> contessa, thank you guy, what do you make of wyn reports and what it might say about the global consumer? >> tim has thoughts on this without question, and we've been talking about wynn being cheap i want to say now the better part of 15 months. so, this, to me, is run up into earnings people taking profits on the back of it maybe lasts a couple more days, but my sense is, this isse ea gd enough quarter to continue what we're seeing i get why people are taking profits on the back of this, but i think there's room on the upside >> wynn is the diversified casino play. >> got it, yeah, i see wynn report down just about a percent. let's turn to airbnbairbnb's moe

lower. >> courtney, airbnb continues to ben ne itfit from the travel resu resurgence, but warned there could be softness coming ahead a word mentioned 19 times during the call that's still going on that word is affordability the company is going after more cost-conscious guests. that will wring down the average daily rates and lead to more markets spent, which will weigh on profitability and that's why the stock is down so much. the most price sensitive guests are currently in north america they are going to be bringing in gen-z travelers that haven't traveled as much yet that could grow airbnb, but in the shorter time, investors are looking for profitability and growth >> thank you dan, what do you make of those results? >> last night, we had a conversation, i said, listen, this thing is setting up pretty nicely, especially on the heels of what uber had to say last

week and the stock's response to that and i thought relative to its growth, the valuation looks reasonable i think -- this is disappointing. i think the biggest takeaway, i would say, this coupled with what paypal had to say about checkout, they're seeing more consumers use buy now pay later, and i just think that's really interesting, when you put these two things together and you think about the economy and where we are relative to expectations for a recession, i think you have to take these two data points out of these two companies and you have to start thinking about the health of the consumer >> and we're going to get more details on that when we talk about affirm, seeing losses more than triple from a year ago, but revenues came in better than expected kristina has been listening in on that call, what's going on? >> yeah, tripled losses, but a little bit better than what was expected i had a quick call with the cfo who attributed the quarter to the value of all goods sold on

affirm's platform. that came in at 4.6 billion, which was a beats he pointed out that delinquencies declined and 88% of transactions are repeat users. on consumer strength, he said demand in travel, ticketing remains strong the company works with brands like booking.com and roil yal caribbean. the shares are down, pairing some of the earlier negative 8% losses the down tick in the stock could be to a slight quarter over quarter in rltc, as a percent of gross merchandise volume for q-4. they are expecting it to be a little lower the ceo says they aren't overly reliant on things getting better in the debt capital market in the near term. that could be weighing on the price. >> interesting kristina, thank you. karen, what do you make of affirm i think it's interesting when you see consumers spending more but doing it with a service like affirm what does that say to you?

>> it is closely tied to spending the capital structure -- they are in good shape. they have a good balance sheet they have a lot of cash. they're going to buy back some of their debt, which is trading 13% yield for three-year paper, that seems like a decent thing to do, actually, so -- you know, the stock came from the stratosphere, it's now down to one-tenth of the stratosphere. i don't know, i never really totally got the model, i never loved it, i think -- it was at the right place at the right time and, i don't know even down a lot here, i'm going to pass. >> down about 6%, but off the lows after the session. coming up, the disney download what to expect out of those results tomorrow and how options traders are repairing. that's next. and cnbc's disruptor 50 list is out we are highlighting the companies making the biggest waves, and a.i. is leading

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we are going to go right here to senator chuck schumer,

who has just left the white house after talks with republicans and kevin mccarthy said there was no new movement let's see what he has to say >> speaker mccarthy, would he take default off the table he refused president biden said he would, leader jeffries said he would, of course i said i would but he wouldn't take it off the table. and instead of him giving us a plan to remove default, he gave us a plan to take default hostage. and that is a shame. because that makes things more complicated. the bottom line is very simple there are large differences between the parties, if you look at what president biden had proposed and you look at what speaker mccarthy has proposed, they're very, very different we can try to come together on those. in a budget and appropriations process. but to use the risk of default

with all the dangers that has for the american people as a hostage, and say it's my way or no way, or mostly my way or no way, is dangerous. so, we, again, repeat our plea to speaker mccarthy, take default off the table and let's resume negotiations in the budget process in the appropriations process, where we have legitimate differences. that's the good news the president asked the people from all four of the leaders and himself to start sitting down as early as tonight, certainly tomorrow, to see where we can come to an agreement on the budget and the appropriations process. there are probably some places we can agree and some places we can compromised, hopefully but that has to occur as part of the budget appropriations process.

>> thank you, leader schumer, and i thank president biden for convening us to have this conversation under no circumstances should the united states default on our debt america must always pay our bills. default would be catastrophic for every day americans, for small businesses, for people all across the land. house democrats have taken default off the table. senate democrats have taken default off the table. senate republicans, as just indicated by leader mcconnell, have taken default off the table. president biden, from the very beginning, took default off the table. there's one group in washington, d.c., extreme maga republicans, who have indicated that they are

willing to take us down the path of default that is reckless, irresponsible, and extreme. we're thankful that president biden has asked the four corners of the capitol, along with the administration, to get together as early as this evening, if not tomorrow, to make sure that we can have a conversation about the budget, about the appropriations process, about spending and investments and revenue. and all four parties have agreed now, on timeline, let me just simply say, because there's been a narrative that has emerged from some of my friends on the house republican side that the delay, the reason why we're at this point is because of inaction nothing can be further from the truth. president biden and speaker

mccarthy met on february 1st in that meeting, president biden said, default is off the table, as it has been repeatedly during democratic administrations and republican administrations, including three times when we helped ed president trump raisee debt ceiling without gamesmanship, partisanship or brinksmanship. president biden said, in that meeting, the administration will produce its budget for the american people by march 9th the budget was prokdruced by president biden on march 9th at the same time, he said, we need to understand the house republican position. produce your budget. march 9th came and went. no republican budget week after week after week, through mid-march into mid--april, all the way through

to april 26th, we saw no republican plan, no republican budget and then on april 26th, they passed one that was extreme that put poll luters over people that dramatically cut medicaid for disabled children and seniors. would cut veterans' benefits, as we understand it would cut health care, would cut law enforcement. would cut a variety of things that would undermine the health, the safety, the economic well being of the american people that wasn't passed, the default on america act, until april 26th the next day, the house went out of session they were gone and did not return until today when president biden reconvened us to urgently deal with this issue. >> we'll take a couple of quick questions.

>> the speaker said he's raised the debt ceiling -- [ inaudible >> it's the wrong question you have to -- every time we pass a debt ceiling, it's bipartisan his bill doesn't have a single democrat in support and it gets us nowhere because you have to negotiate to get these done what's really troubling about the speaker's position is, it's a -- it's a partisan bill and he says, take it or leave it or we could default. by not taking default off the table, speaker mccarthy is greatly endangering america and making it much harder to make progress on budget negotiations. and so, the bottom line is very, very simple. mitch mcconnell himself has said that the speaker has to come to some kind of agreement with the president.

and said that the senate is never going to pass the house bill mcconnell has said that. so, the idea that he passed a partisan bill that has no chance of being signed by the president, and no chance of passing the senate, and instead, uses it, as he said, somebody, one of the reporters asked him, are you going to hold a gun to people's heads you he didn't deny it. he didn't deny it. this is very troubling but if we can come together on an appropriations budget process, the way it's been done every time in the past, when president trump was president, i was democratic minority leader, i could have said, i'm holding it hostage unless we repeal the trump tax cuts, your signature issue. i didn't do that but mccarthy is saying, i'm holding it hostage unless you appeal the i.r.a., doing such good for the country >> you talked several times about the regular budget and

appropriations process, so, how much actual discussion was there of a short-term increase -- >> that didn't -- we are going to meet tonight and tomorrow to try to begin talking about that appropriations process, about that budget process, to see if there can be some agreements the disagreements are wide, and anyone who says my way or no way and we're going to default is not serving the country well and i'm afraid that's what speaker mccarthy is saying last one go ahead [ inaudible >> president biden did the responsible thing, convening us the first day that the house was back in session after being out of town for close to two weeks we had an honest, frank discussion about a path forward and president biden urged us to get together, either later on today or tomorrow, our respective teams to have a discussion about a path forward around the budget and the

appropriations process and everyone agreed. that's progress. >> thank you, everybody. >> we've just heard here from senator chuck schumer and hakeem jeffries, after meeting with the president and with republicans from the house i mean, karen, now we've heard from both sides, we don't have any real movement, so, i guess we have to decide who has the more compelling argument, as they come out to the podium and speak to the press >> i think actually both sides did a good job of making their sides sound pretty reasonable, right? we've done what we can i thought both sides did a good job. >> and i you this it's a positive, seems like, they're all going to be meeting either again tonight or tomorrow, so -- that's good, i think that's kind of as good as we hoped that meeting could go there was no chance -- no chance -- of a deal during that meeting. >> dan, what do you make of what we just heard? >> yeah, i -- listen, i don't think -- i think the last bit there is the most important bit. there was not a negotiation on whether to pay the bills

there was not a negotiations in the last few terms here, whether or not the u.s. was going to default and we weren't going to push it to the brink of having our debt downgraded, so, to me, i think that ultimately, you know, no one wants to be on the hook of this a year before an election year, that sort of thing, but i think they will come to a clean debt ceiling raise that kicks the dan down the road and have to agree to some of the spending increases >> well wait to see what the resolution is in the coming weeks, but let's turn to disney. mike khouw has the action for us what's going on here, mike >> yeah, so, the options market right now implying a move of 6% higher or lower by the end of the week after they report earnings that's consistent with the 5.6% or so the company has averaged over a similar period looking at the last eight reported quarters sentiment was slightly bearish the busiest options were the weekly 97-strike puts. we saw over 6,000 of those

buyers are betting on a downside move of about that 6% by the end of this week >> thank you very much, mike tim, what do you make of disney? what are your moves here think the stock has been range bound. if you look at the chart, kind of interesting, it's coming up against the 103, 105 levels. the chart is encouraging i don't think they're going to knock your socks off in terms of what their streaming revenue was, it's about controlling the losses that will be closely watched parks outperformed and the operating income coming out of parks, certainly from the business perspective offsetting, i think it's bob iger's first quarter at the helm -- >> again >> right, again, and we're probably going to hear about cost-cutting but i think media companies have bourne the brunt of the first round of -- they were priced for recession right out of the gate two years ago, and i think on some level, we've had a chance to reassess. >> well, for more options action, be sure to tune into the full show, friday at 5:30 p.m.

coming up next, cnbc's disruptor 50 list is out, and it's all about a.i the ceo of cohere will be here plus, carvana, should you jump into this rally that and more when "fast money" returns. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. a ballet studio, an architecture firm... and homemade barbeque sauce. they're called 'small businesses.' but to the people who build them

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this year's disruptor 50 list is chock full of companies making breakthroughs on a.i. cohere makes models that clients can deploy to build chat bots, search engines and more. they currently have partnerships with google and aws. joining us is cofounder and ceo aiden gomez. can you give us some examples of what your technology does and perhaps even how it's improved businesses >> yeah, so one of the ones i'm most excited about is customer support. live person is augments their hundreds of thousands of agents with the large language models to make them more efficient, more effective, better customer support agents >> and do you have quantifiable

results? >> nothing publicly -- >> we could certainly use it, for those of us who have been waiting on hold for a long time. >> yeah, i -- you know, there's this paper out of m.i.t., came out about six weeks ago, i don't think it's peer reviewed yet, but the results are amazing, like, when you look at it, there was an efficiency increase of something like 37% that's extraordinary, right? that's industrial revolution level large. so, i think what the steam engine did we mechanical work, this technology is going to do for intellectual labor >> wow that's a pretty big statement. are these things coming for all of our jobs, as they read content and then can regurgitate essays or written releases >> i don't think so. i think there's always going to be human in the loop and so, i think it's going to be augmentative as opposed to a replacement. humans are going to become ten times as effective at what they do they are not going to go away or be displaced it will take time to integrate

this technology into our existing stack, right? i won't be an overnight switch where people lose their jobs overnight. i think, you know, corporations might make excuses about layoffs, saying it's on behalf of a.i., but the reality is, it's going to be a slow process over the next half decade and there will be time to adjust and, frankly, you're going to love it, because it's going to make your job easier you are going to focus on the things you care about. >> we look at the markets, we look at new technologies through the lens of the public markets and there are some massive platforms. you just named a couple of them that you are partnered with. give as sense of what it's like out there. you are built this company over years, and you are preparing for this moment. what's it like right now do you feel like you are more partnering or competing with the large platforms? >> right now, it's an extraordinary moment i think -- just at the level of technology development, a few months ago, the first time people held a conversation, an

intelligent conversation with something that wasn't human. that's pretty extraordinary. so, we're postawareness now. everyone is aware of this technology, but we're pre-the real deployment. so, i think simmering underneath the water is all this work going on to just transform every product, every single company. and so, we're excited to be the partner to enterprise in helping them do that in terms of competing with platforms versus artnering, i think there's always a bit of both and we have very close partnerships with google, with amazon, with oracle, and so, we're lucky to have those, they're fantastic partners >> thank you for joining us. aiden gomez. don't miss much more on this year's disruptor 50 companies, continuing tomorrow right here on cnbc. well, up next, your final trades

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verizon it's time for the final trades let's go around the horn tim? >> courtney, thank you for joining us coca-cola is going to continue to deliver i think they can continue to dominate in this pricing world >> karen >> yes, this was steve's final trade last night, mine tonight, co

capri. >> dan >> paypal. >> guy >> defense spending never gets cut. lockheed martin. >> thank you for watching "fast money. it has been quite a show with a lot going on as we wait to see what happens out of washington "mad money" with jim cramer starts right now starts right now my mission is simple -- to make you money i'm here to level the playing fields for all investors there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey. i'm cramer welcome to "mad money. i am just trying to make you money. my job is not just to entertain but put it in context. so call me or tweet me everybody loves to obsess over the macro. what will happen with the debt