tuesday, danaher and 3m are going to be important for the economy. >> some of the industrial going back to what tom lee was talking about, the fact that you have seen this rotation out of and beyond big cap tech into some of those nor cyclical parts of the economy. does that continue, and what do the earnings tell us >> have a great weekend. >> you too. >> that does it for us at overtime >> "fast money" starts now. >> indeed it does. right now on fast, the dow just barely keeps its winning streak alive. it is up to ten days in a row. the focus pushes to a fed decision next week to housing data, consumer confidence as well plus, the biggest week of the earnings season on tap, time to trade it or fade it. from big tech to burgers to big old airliners. we'll look at where the desk stands, and that's just minutes away and later, the chart of the summer it has been, and here are some hint, on a swift rise since may, and a yellow brick road of

success for months we'll dim the lights and raise the curtain coming up. i'm tyler matheson in for melissa lee. on the desk tonight, julie beal, guy adami, karen finerman, and here on set, to lonely folks, courtney how are you? >> got to hold the fort down. >> we start with the dow's best run in six years it may have come down to the wire the gain was small, but the blue chip index did eke out a small -- and we do mean small -- gain the dow up ten sessions in a row for its longest winning streak since august of 2017 for the other major averages, a bit of a mixed day this on a day where there was a sizable volume of index and stock options expiring even with today's anemic performance the dow did jump more than 2% this week, and the market now turns to the busiest week of earnings season and a key fed decision on wednesday.

guy adami, how important is next week for this little -- >> tyler, did you write that open did you write that open? that's why you're on the mount rush more of cnbc. just genius. >> we're nailing them! g giving them the "a" game today. >> of course you are i think it's really important. i think the fed is going to move 25 that's national security market. but it's the hawkish commentary you're going to continue to hear -- i think they know, the fed officials realize i think inflation is going to reaccelerate in the back half of the year september, october, november all signs point to that. if you look quietly, gasoline is making a new 52-week high this week alone so some inflation inputs are on the back of their horse. i think you're going to have a hawkish fed. >> that has been the talk, what guy just said, and that is that the fed basically said what they're going to do and that is

raise rates by a quarter point i find myself wondering, after that inflation print last week, do they really need to or should they just stick with the pause? >> i'm with guy. i think they sort of need to i feel like, you know, one of the -- one of the things that they're trying to do is obviously have unemployment as low as it's been they're trying to cool from the labor angle. no progress on that. that gives them a little bit of cushion to continue to raise and great that the numbers are down, however, they're still higher than they need to be. so i think that maybe they pause after this one i don't know but i don't think the job is done i think they got a couple more raises left to go. >> julie, as guy points out, you have some measures that are indicating sort of those inflation signals. this grain situation in ukraine and the pressure that that may put on the price of what i would

call strategic food stuffs could also add to inflation. so, are you also of the camp that says, the fed is going to raise rate by a quarter point next weekend and what would that mean to the equity market? >> i definitely think that people are underestimating how much of a benefit it's been to the u.s. economy that oil prices have been as soft as they are. it's probably on the order of $200 million in extra money in the consumers' pocket. i think that's why things have been as strong as resilient as they have been if that reverses the fed changes the map. the fed is wary of that. a lot of the inputs in terms of commodities are out of their control. we don't know, if the chinese economy does get stronger, that puts pressure on pricing as well i think they're just really concerned to not repeat the mistakes of the 1970s. that seems to be the playbook they care about. you can argue that this is much more reminiscent of the 1940s.

i think from hear on out, the tone is what matters more so than 25 base us points here are there. >> courtney, jump into the conversation here. where are you on what the fed is likely to do and what might the messaging be beyond the fact of the decision, whatever it happens to be? >> i actually want to echo julie's comments here, which i completely agree with. they've raised 500 basis points in a year, and markets really bounced off their lows, they have not reacted negatively to the news i don't think another 25 basis points is going to move the needle it's going to be sentiment that matters. i would be shocked if they didn't come out hawkish. they are not going to take their foot off the pedal or let people know they're going to beforehand by in means, so expect you're going to get that language moving forward the languages might move better, but i don't see -- there's

definitely ways to look at this one way or the other, but there are a lot of positives i'm hoping inflation continues to come down i am hopeful we'll continue to see it -- >> is the market -- has this stepped past an interest rate hike if it comes >> i don't think the rate hike itself is going to be the problem. it's going to be how hawkish the fed's language is. that's going to be what the fed's caveat is going to be. >> new york magazine without with a story on what they're calling the office space apocalypse in new york city. the piece hitting just as the sector is starting to show signs of life. our chart master just last month made a call that he was seeing opportunities in at office space, and he's not ready to change his tune now. let's bring in carter worth of worth charting carter, talk to us abo it. >> right, so magazine covers are a curious thing. there's a magazine cover

indicator. but any way, we'll leave that alone. the judgment from two fridays ago was to start to embrace reets. we'll look at charts together. it's important to note the top four or five names, not a one of course is an office -- american tower for cell phones and data centers or public storage and so forth. but let's look at the charts we have three identical daily charts and a long return first chart has no drawis, no lines, but there is an airarrow. why the arrow? next chart we have a well defined downtrend. this is clear. the you see it on the second chart, whether we use an automated trend line or an actual trend line, an automated trend line is what a moving average is, and that has started to turn. look at the flattening of the line now look at the actual trend

line the next chart it's the same thing, meaning we've moved above the downtrend. finally a long-term chart that puts some of this in perspective. that well defined uptrend line connects beautifully from the covid low, and we've bounced off it to the penny repeatedly now starting to move up and out of this formation. we like this area of the market, and we think iyr or xlre, those are the vehicles to use. >> this wouldn't be the first time that a magazine jumps in at precisely the moment where the market turns in the opposite direction from what they're saying. >> yes. >> in these etfs, how do you know which ones have the kinds of concentrations in the kinds of properties that you might favor? in other words, some of the etfs may have more commercial real estate, more malls and strip malls. others may have more office

buildings. others may have apartment buildings. how can you do the second level digging to lead you in the right direction, carter? >> sure, you can go online, the two big ones, the iyr or spider, xlre they'll give you the weightings. and you'll note the biggest weighting in iyr and s&p 500 sector is prologueis, storage warehouses, which has nothing to do -- not storage like if you and i were to store an old bicycle. that's public storage, and that's also in the top five. but american tower, cell phones, data centers, crown castle, another tower. so the top five, there's not a single one that's, like, boston property or something tied to new york real estate like sl green. so in that sense, i don't think it quite dove tails with the magazine cover we know there's a lot of office spaces in downtown centers across the united states >> carter we're going to see you

shortly on "options action," right? >> you bet. >> i'll be waiting karen, you're in this space. your take on it? >> it's interesting, i look at things completely differently than carter. he's about the charts. i'm about the fundamentals and what's happening for me, boston properties, which he mentioned, is the way i want to express this bet. sentiment could not be worse it makes such a compelling short -- how potential offices are, howinterest rates have gone up, there's no debt to be had, yet it's so bad kind of that i think it's good in that boston properties, which as i said is the preeminent one, they did manage to get a debt deal done in may. they have continued to pay their dividend while many others haven't. and sl green has a lot more turbo charged -- they did sell one property which sort of ignited the market, and i just think capital will start to flow in so the risk reward i think is compelling here, so i'm sticking with boston properties. >> guy, jump in here

what's your trade in this area >> before my trade, i'll tell you that edward munch painting carter is sitting in front of is extravagant. isn't that amazing >> you know where i was three weeks ago? >> how would i know? where were you >> i was at the edward munch museum in oslo, and i saw a lot of munchs. >> look like munch to me. >> i don't know. we'll find out anyhow, i digress. go ahead. >> if we could put up an spg chart over the last eight year you'll see it's a pretty well defined downtrend since 2016, but there have been bounces on the way. that's what we're in the midst of this bounce can last longer than people think probably gets up to the mid 140s and starts its trajectory lower. but i think karen's right in

term of the trade. >> let's move to a news alert on amc. a judge blocking the company from converting its eighth -- controversial shares many retail investors oppose the conversion because it would have diluted their shares amc shares as you see there are up $3, up 71%. karen, you have been following -- let's go to michael santoli with the news. >> big shoes to fill, but -- all right, so this one, it is not fundamentally great news for amc, actually, because this is how they were going to raise cash to finance their rather hefty debt load. what it isis a short squeeze a lot of arps had long the

a.p.e. and short the amc hoping they would allow the a.p.e.s would the turn amcs and they could sell them for cash this throw a big wrench into it. this is in no way a commentary on improving health at amc barbie has got to just absolutely be "gone with the wind" of our era i don't know how you get out of this mess if you're amc. they tried everything. adam aaron has tried everything. he's been a masterful marketer and capital structurer and arbiter and magician, but this is a big blow. >> adam aaron and barbie, and if they can't do it, i don't know who can. julie, thoughts here >> i agree completely with karen. this is one of those situations where the fundamentals are going to trump everything.

it's a function of this is a very difficult industry. it's been disintermediated by a lot of what's happening in screen, and we're not willing to go to the theaters as we used to be they don't have to leverage of in term of being able to negotiate these window, and i don't think that really is going to change over time some this is really a tough picture for them right now. >> it's a fascinating industry, the theater industry is undergoing immense change. the studios, there's now strikes. the studios' business is changing right underneath their feet when you look at the paramounts, the warner bros, the universals, this whole business and the way film content is distributed is totally in flux right now. quite obviously. but at any rate, we're going to take a break and talk about the busiest week of earnings season. it is on deck.

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i'm a little bit nervous,

but there's a lot of air that could come out of this tire pretty quickly i agree on the cash flow, but nervous about margins. >> you say fade it let's move on to an energy name. that would be chevron reporting next friday morning. what should we do here trade, fade? >> i say trade it. the whole pace is just underperformed and i think if we're seeing a rotation from some of the high flying stocks into some of the things that haven't performed, this would be right in the crosshairs of where the go so trade it. >> trade it. courtney, what do you say? >> i'm with karen. i think people have been overly pessimistic in the energy space. they can provide for current cap exand detective ends as long as oil stays under $45 a barrel. >> julie, what would you do there, trade or fade >> i think i'm trading it here

i think this is one of the new companies that can benefit from a.i. in the near term. i'm mostly going to be listening on this conference call because i haven't heard a ceo give me a real understanding of what generative a.i. are going to do. the writer on strike are doing a better job explaining what a.i. can do, so i'd like to hear more. >> karen, your thoughts here >> it's a hard one speaking from my book, sold half, so that would be a fade it huge run up. obviously the pick si dust is there. we don't know huh it's going to work we know the compute power is good for its cloud business, but this run, this multiple for microsoft is pretty high. >> last but not least we've got procter & gamble reporting friday morning courtney, the biggest consumer products company of them all, i guess. >> yeah, and i would actually trade this one head winds that have been a

problem are higher commodity prices and a strong dollar, and you're starting to see that come down, which i think could benefit them. >> guy, what do you think of procter and gamble and its manly products >> love their products not sure about the stock valuation is rich. margins are going to start to contract i'm not sure they can pass on their price to the consumer anymore. fails from the all-time high, if memory serves, december of 2021. >> all right, my memory never serves these days. coming up, the temperature is is rising but so the one company's stock price. the chart of the summer, that name is next when we return. old school hard work meets bold new thinking. ♪♪ at 87 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities

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welcome back to "fast money," everybody. time for a chart that looks so good it's not just our chart of the week, but our chart of the summer shares of live nation off to a sizzling start, surging more than 70% over the past three months, no secret why. the stock getting a boost from the success of high grossing summer concerts. you've got taylor swift eras, bruce springsteen's 2023 run, and elton john's farewell yellow brick road world tour. how should invest efforts treat this surge court? >> a couple things but interesting the look at what it means for the consouth americaer. people going more towards services and they want live events rather than goods that trend is continuing and you're seeing that with live nation i was at the ed sheeran concert. i have never seen a more packed concert. >> met life? >> met life on a sunday night. completely packed.

everybody in their seats on tim. it was amazing my only concern with this stock is how expensive it is it trades at 140 times next year as earnings. but -- when you look at it that way, it is expensive buck not compared to itself, so maybe has room to run here. >> karen, what do you think? this is one you own. >> yes, it is. it's one i've owned for a long time it always has been expensive they pay up to build their book of future concerts they just have an ecosystem that is unmatched from the concerts they control, the sponsorship, the ticketing -- they do own ticket master -- it's a business you can't re-create. it's expensive, but i own it guy -- >> yes, sir! >> this is a farewell tour i mean it this time. the eagles are going to do one what do you think of live nation >> you can have as many as you

want tyler, if you think about it, every night is a farewell tour you never know what's going to happen the next day. i think live nation to karen's point, courtney as point, has always been expensive. it was this time last year, early august, that the stock topped out around 98 this is a logical place, i think, to take some profits and look for a pullback to buy it at better prices. >> all righter let's do our final trades it's gone by so fast i can't believe it i'm doing this not in any order. i'm not picking on anybody julie, you go first. >> i think transunion is worth a look here. mortgage originations were surprisingly good, and that's good for the credit bureaus. >> guy, your final. >> you speak portuguese? >> no. >> well, you should, because brazil etf is breaking out of, like, a 17-year downtrend, ewz. >> ewz, okay karen, you're up

>> yes, well, first i want to thank you, tyler, for being here on a friday night. >> thank you guys for having me. love being with you. >> i may regret this because guy's on the other side of it, but i'm going with the girl that brought me to the last segment, live nation, staying long. >> courtney, you have one that you mentioned earlier. >> chevron we talked about this earlier i'm optimist, on energy. >> got to go that does it for "fast money." aconisn't go anywhere, "options ti" up next great to be with you all thank you.

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right now on oa, counting down to the biggest week of earnings season. we'll check out the action ahead of the results plus, industrial surge the trader lay a game plan for how to hand it will big move we've seen in that sector. and later, a look back and ahead at the china challenge is now the time to bet on beijing or