sca scan the qr code on the screen to watch it now, and it is worth the watch. congrats to kate rooney on that. just looking at the markets here, we did manage to finish the day higher. basically finished at the highs of the trading session, the dow adding 127 points, the s&p adding 34 for 4263. that's dog to do it for us at "overtime." "fast money" begins right now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. chaos in congress. with kevin mccarthy out as speaker who will get the gavel next? how long will it take and what impact will all this have on the budget, the deficit, and potential credit downgrades? we're live in d.c. with the latest. plus, crude crumble. wti now down nearly 10% in just the last five days. what does it all mean? we'll debate it. and later, a special edition of trade it or fade it, we'll show the traders this one-year chart and ask them based only on what they see whether this --

>> i got it. >> if this stock is a buy or should get kicked to the curb. >> do you know -- >> the show hasn't started! >> i know. >> getting away from you. >> you're not supposed to talk yet. >> we're excited. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, who is already made his appearance. >> chatty tim. >> steve grasso, guy adami and julie beal. we start off with the potential turmoil in washington. the house without a permanent speaker after housing kevin mccarthy last night. so, who is throwing their hat in the ring? when will there be a vote? what will new leadership mean for congress's fiscal agenda? let's get to emily wilkins for the very latest on this. emily? >> hey, melissa. well, the race for house speaker is under way. steve scalise and jim jordan both officially announced today they will seek the gavel, other members are looking at a potential run including congressman kevin lehaern. republicans are going to meet on tuesday. they're not going to have a speaker until then. on tuesday, they're hoping to

have a candidate forum. they really want to coeless around one candidate. and then we could see the vote for the next speaker start as early as wednesday. now, whoever wins is going to need to hit the ground running. the new speaker will have only a little more than a month to actually figure out a way to fund the government before a shutdown, and that could also mean grappling with funding for ukraine. jim jordan told reporters today that that probably is not going to be a top priority for him. >> what i understand is, at some point, we're going to have to deal with this appropriations process in the right way. and we're going to try to do that, what do we have, 41 days? the most ipre pressing issue is ukraine. >> movement is getting backing from the senate's top republican, mitch mcconnell. >> i hope whoever the next speaker is gets rid of the

motion to vacate. i think it makes the speaker's job impossible, and the american people expect us to have a functioning government. >> it remains to be seen if republicans can actually coalesce around a candidate quickly, or if we're going to have another 15 rounds of voting for speaker. melissa? >> emily, thank you. emily wilkins in washington for the very latest on this. the market did rebound today despite the uncertainty in d.c. the nasdaq leading the gains, up more than a percent. the dow was up 127, but still in the red for the year. but could that turmoil in washington put another strain on stocks? and anybody who watches "fast money" knows we are not a political show. we don't usually start the show off with what is going on in washington, but to the extent that the eight republicans who ousted mccarthy yesterday, they cited fiscal responsibility as the reason why. to the extent that moody's underscored, fitch's downgrade back in august underscored dysfunction in the government as reasons why they are putting the

credit rating on watch or downgraded. that's why we start off with this tonight. guy? >> yeah, and that's why yields were -- well, one of the many reasons yields have been going higher. this is not going to be political. but what's interesting, emily mentioned ukraine. so, people are going to say, you are always bearish, using your dogma, but if i'm in ukraine right now, i'm worried in terms of the next speaker potentially one of the -- i don't know, one of the things they have to adhere to is, we are not going to fund ukraine anymore. so -- but then you have to ask yourself, what -- china sits back and says, this might give us sort of an open door, potentially, to sort of escalate things with taiwan. so, i don't think this is particularly bullish for the markets, in my opinion, through that lens, specifically. >> i think you could make the case that there is a bullish angle to it, if you have someone who is more fiscally responsible, and if that group comes in and they don't want -- now everyone's talking about spending. >> sure. >> and if that groups pulls the

reins in, that could be seen as a bullish tailwind. >> in the long run, definitely. >> the agenda that includes not funding ukraine is fiscally positive for our balance sheet, let's be clear. and moody's has used the term governance to describe either dysfunction or -- and i said this before, i've invested in emerging markets, i've looked at governance issues in places where they are always in question, if it's brazil or turkey, with all due respect. the fact that it's an issue and it's an issue in the bond market, and it is an issue in the bond market. and i think it's playing somewhere into not front and center, it's not like -- we're still the flight to kquality, let's be clear. when you think about the term premium that people are at least starting to price into the yield kur uch, needing more to move further out the kur uf. there's a lot of reasons, including washington, and including the fact that there are central banks around the world that often are using treasuries as an instrument, that may not be as active for

different reasons on their own. so, we can't point to the ratings agencies as an opportunity to say, this is why we're going higher. it's another ingredient in the stew. >> and i know you want to get to julie, but the other thing is, it's not going to be 15 rounds of voting again. it can't be. they're going to make sure that it didn't happen. so, they'll coeless around a scalise, he's probably the one that's going to do it. there's a couple of other sports there, the speaker, there's the majority leader, the whip. there's enough room to go around. >> okay. well, julie, how do you factor all this going on in d.c. and to your market view? >> you know, i mean, i think it's a level of chaos that we're seeing is worse than what i experienced with my high school roommate. i mean, it's just really, really messy, and i think what we need to keep in mind is, you know, we agree that the u.s. is the vefsh currency, and it's pretty hard to peg how much that has benefited our economy, that we get to borrow at such cheap rates for our expansionary policy that we've had for the last couple decades.

if that starts to deteriorate, that has meaningful kons consequences. so, i worry about the implications of this much squabbling. it doesn't make us look good. >> it is interesting to mention the run of the dollar of late, the currency differentials, which is making the dollar stronger and causing it to rally. >> i -- look, i -- i know i've been saying weaker dollar and i've acknowledged i've been wrong and the most important thing here is the dollar at some point will have to give ground. and i looked at gold, i looked at precious metals, and there's a real opportunity here. the things that people are scared about, striving up yields, i think have something to do with where the dollar is. >> it's interesting, real quick, jim jordan said that ukraine is not top of mind for the -- >> americans. >> i get it, 100%, but poland probably wasn't top of mind for americans in 1939 when germany invaded, and it wound up being a much bigger situation, because we sort of turned a blind eye back then. history is clearly repeating

itself. and i understand, you don't want to be the policeman for the world, totally get it, but one has to ask themselves, you know, if we were to take ourselves out of this equation, you can't do the counterfacts, but what's going to happen to the rest of the world? >> to julie's point, what happens if we don't get the debt under control? so, we look -- it looks clownish. it looks terrible. it's making sausage to the tenth expo innocent. but if we don't get the debt under control, we look clownish and it looks terrible, as well. that has to be addressed. >> clownish either way. >> i think it's clownish either way, but no one has the ability to say, let's get the debt under control, because it's the entitlements that are 70% of it. >> let's bring it back to a market show. because i think we're getting political. you can make an argument about what's important or not. how about the united states government from a traders perspective that was effective libor roeing a lot of money at zero rates has had to pay back

at higher rates. if you think about the fiscal dynamics of this, it's amazing. and it's amazing about where this is not going to change. and jim bianco was here last night, we're having this conversation with really smart people that understand both the technical, the fiscal, and even call them the qualitative, or the governance factors here, but yields gave ground today because the economy looked weaker. we had a couple data points, amazing, are we rooting for a slightly weaker economy? that is also absurd. >> for more on the turmoil in d.c., let's bring in senior national political reporter at nbc news. great to have you with us. what's your understanding of the timeline of when we will have a speaker in place? >> hey, melissa. it's not clear yet. what we do know, we expect house republicans to huddle early next week, likely on tuesday, to talk amongst themselves and what they're calling a candidate forum for potential new speaker to introduce themselves to the conference and make their case.

then they could get in a room together and vote as early as wednesday, and see if they have a consensus choice. now, remember, they could do this one of two ways. they could get a majority of their conference, pick a speaker candidate and move to the floor and see what happens. that's what they did with kevin mccarthy, and he ended up needing 15 ballots to get elected. one thing that former speaker mccarthy said to republican lawmakers, according to a source i spoke to, in a room when he announced his intention not to run again yesterday, was that they shouldn't do that again on the floor. they should all coeless behind a candidate and then move to the floor to avoid, you know, to save the country from that spectacle. so, who is it going to be? there are some kpdcandidates ine mix. steve scalise announced his run today, put out a letter to colleagues. he is the natural heir to kevin mccarthy's speakership. there is jim jordan, the first candidate to officially announce. he used to be a far-right agitator who ended up becoming the chair of the judiciary committee, ubiquitous in

conservative media, a favorite, certainly, of many on the right. and then there's kevin haearn. he is actively considering a run, he has not announced yet. those are the three key names to watch right now. everybody else, i would consider, a dark horse, far from clear who is going to get the support, guys, because, you know, former speaker mccarthy spent his nine months in the job dancing on the knife only of fun functionality and paralysis. is anybody going to be able to do a better job with this narrow majority when you are dealing with a democratic senate and democratic white house remains to be seen. >> which leads me to the question, which is, you know, the reason, given by many of the eight republicans who basically voted to oust mccarthy, was fiscal responsibility and a desire for more of that. do any of these leading candidates have that ability, given the dysfunction within the party? >> that's the million dollar question. can any of these candidates do what speaker mccarthy could not do in that job? and remember, the reason that

kevin mccarthy was not able to do more about, you know, reducing the deficit and getting discretionary spending cuts that many conservative, many republicans want, is that democrats control the senate. democrats control the white house. joe biden is president. you have to get him to sign a bill in order for it to become law. and kevin mccarthy did favor much more in spending cuts than the senate would accept. so, can any of his successors get the democratic-led senate to accept more spending cuts than they're willing to now? and i've spoken to numerous senators today, in both parties, and they say the answer is emphatically no. you're not going to get a more right-leaning candidate in the house of representatives to be speaker and force left-leaning senators to accept cuts they won't. and by the way, i heard you guys talking about entitlements and mandatory spending cuts -- that is off the table, i got to tell you. even kevin mccarthy, even his right-wing hard liners say they don't want to touch social security and medicare. those programs are very costly, but they are very, very popular, and there is the political will.

they're talking about 30% of the budget, discretionary spending, half of that they don't want to cut, is the pentagon. i would not expect anything meaningful to happen on the debt or the deficit regardless of who becomes speaker. >> sahil, thank you. which leads us back to fiscal spending. it's still going to happen. it's still going to be out of control what does that mean? when does the weak dollar trade come in? or is there too much going on around the world that is effectively bolstering the dollar at this point? >> well, in terms of current account surpluses, the euro could go higher. japan, the bank of japan is really also been kind of a circus in terms of their policy, they have inflation, they've been manipulating their yield curve, they've been manipulating their currency. i think they intervene. there are arguments that there could be other places that give the dollar, i mean, the yen should be appreciating. the reality is it should be.

and the euro certainly -- be careful, also, about yields backing up. we think that's a problem, we haven't even begun to talk about the p-- i would argue ten years ago is how we got here. >> julie? >> yeah, i kind of agree, the u.s. is really kind of the best house in a really bad neighborhood across the u.s. it is the -- probably the most stable with the most vibrant and dynamic economy, so, i think we continue to be reserve currency. i just think that rates stay high until order for investors to be compensated for the higher risk. >> so, what did you make of today's market action? >> it was good, actually. the fact that yields -- ten year got north of 4.80, reversed. that was a good sign. ten-year yields go back to 4.5%ish and still be in this upchannel from the spring which could be positive for the broader market, number one. if that were to happen, the dow would fall on the back of it. and we're going to talk about it next block, but that should be

supportive of commodities, as well. i still think the trajectory for yields are higher. >> i think the major issue that we talk about, no one really focuses on is qt. no one -- that's always happening in the background. that has a huge amount to do with -- with the rate, at least the chart on rates right now. if i had my wish list, i'd get the weaker dollar, i think rates are going to fall off a cliff. i do. and i think that's going to shock the market and the market is going to rally, because everything is so pent up, i think the market is oversold, i think rates are -- ten-year is oversold. so, i do think that you're going to see that reversion where you see oil come in -- >> that sounds like a short-term reve reversion. >> it could be, unless we start to put the damper and the reins on qt. we haven't heard any of that from chairman powell, and that's the main reason why you're seeing rates rally like this. >> what's oversold is the stock market. and it -- it's all relatively. in terms of at least over the

last six to seven weeks, where we put positioning, and i'm just going to point out that today we closed near almost a record relative high of the nasdaq 100 against the s&p, so, in other words, where does leadership come from? the triple qs and the smh or semiconductors. and if you look at the performance of the market, i know it's not an exciting moment in terms of the overall performance, but qs are back near that july 18th level when they hit all-time relative highs against the s&p. the semiconductors are up 4.6% against the s&p over the last nine trading sessions. so, where you wanted leadership during a down market, i think it positions you for the same leadership to take you higher for at least a seasonal run. coming up, crude crash. oil sliding sharply from recent highs, down more than 10% in just the last week, so, just how much lower will energy prices two? the commodity convo, next. plus, souring on apple. one bull downgrading the giant, and tim cook is offloading shares. the traders are biting into that one, when "fast money" returns.

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high interest rates stoke fears alongside saudi arabia confirming plans to cut production into year end. we were just talking about this huge snap-back. >> yeah, this, to me, felt like an unwind of different things happening. that's fine. and i've been bullish and it was right until two, three days ago and now it's reversed. i don't think it's over by any stretch of the imagination. all the things we've talked about for a year, supply/demand imbalances are still in place. they're all at critical levels. xlh, all these things that we talk about, but i'm not here to give up on the energy trade by any stretch. >> no, i -- i don't know how you can. i don't know how you get around major structural issues, including u.s., you know, shale having peaked. in terms of the growth dynamics. you can make an argument, that's not going to grow. and the 8%, 9% yields we had out of u.s. shale is more or less flat. i don't know how you're getting a decade of a lack of in

infrastructure investment. saudi is the only spare capacity out there. i think demand is not going to fall off a cliff. and the politics of oil keep it high. >> i've been negative on the stocks, positive on the actual commodity. and i think the stocks are more or less reacting to back backwardation. these all just fell off a cliff. i'm not bullish on these energy companies, and it remains to be seen whether demand enters the calculus. >> why is gold just -- >> languishing. >> dollar. >> just because of the dollar. >> higher yields and the u.s. dollar. >> if you look at gold miners, if you look at those plays within the mining space that are gold dependent, there are money managers that are correlated and they've been destroyed. if you talk to all the doom and gloom guys, what are they holding in their basement? gold. >> if you had known what the news is, where would you say

gold would be at this point? inflation through the roof, rates through the roof, gold should be where? >> mel sounds a lot like steve these days. >> deep voice. >> it's higher. we're multi-month lows here. but again, dollar higher, rates not good. japan continues to do this slow motion implosion, i mean -- gold -- last year, essecentral had 72 tons of gold. $70 billion worth of gold, they're on pace this year to do exactly the same, just hasn't manifested itself. >> all right, as steve mentioned, there's every reason to own gold at this point, though, julie. >> i mean, no, right? it doesn't have earnings attached to it, so, i'm not interested in it. i understand the underlying fundamentals, but you know, if there's anything that we've learned from this year, it's that all the forecasts for all of the commodities were just dead wrong. and, you know, you recognize -- you really see it in what's

happening with the price of oil. you have one player and really one person that is actually determining where things are going, and the level of control that they have is just -- it's just to me makes it really hard to invest here. >> all right, there's a lot more "fast money" to come. here's what's coming up next. the big apple getting sliced. a longtime bull cutting his rating on the tech titan. and even tim cook is reducing his stake. what the ceo selling means for the stock. plus, health care home run. there's a fast pitch coming your way, and our next guest is throwing some heat on stocks that could be a grand slam investment. the names ahead. you're watching "fast money," live from the nasdaq market site in times square. we're ckig aerhiba rhtft ts.

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welcome back to "fast money." longtime apple bulls at key bank downgrading the sector. ceo tim cook shaking things up by selling more than half a million shares of apple stock he received as part of a performance bonus, those shares were worth more than $88 million. and netted him over $40 million after taxes. it was his largest share sale since 2021. the reasons behind the downgrade, basically valuation is stretched, when you look at the revenue growth rate that is expected. it's been down three quarters in a row, year over year basis. these are the things that have been pointed out, tim, by you, in fact, and many others. >> i just -- and the multiple at this point is a problem for me. the discretionary spend trend overall for the consumer. the china news that is probably, i think, been more headline than

actual so far, but i, you know, i love apple as a company. i think what they can do from a capital markets perspective, they can engineer earnings, because they can buy back stock. it is hardware as a service. it's just too expensive here. it needs to go lower. >> it's a mature growth profile, julie, according to this analyst, for premium valuation stock. >> yeah, but i think a lot of what tim's saying is true. i'm willing to pay a little bit more for a really strong management team and very good capital allocation, and i think they have opportunities in front of them still. you know, you look at this chart, let's take it on a super long-term basis, you have to think about every time you would have wanted to sell, if you had owned it for the last 10 or 20 years, right? and, you know, it's really hard in moments to say, i'm just going to sell this on stretched valuation. i understand the argument to be made for it, but i always look at long-term charts and think, how is it that people have been able to hold on and make a lot

of money doing that? >> yeah, i'm still long it, and it really -- >> you bought it recently. >> i bought it in the 170s, and then i was waiting for a close below 170 and if you look at it, it threaded the needle. it traded below 170, did not close below 170. i'm still long the name. and to julie's point, in this -- these times of unknown environments, multiple environments, where would you rather put your money? yes, treasuries, but apple is one of those, as well. >> it's best days behind it, though. >> why? >> well, not that this is really at all academic, but this was a $45 stock 3 1/2 years ago. the stock's gone up 3 1/2, 4 times. you've had an enormous growth period and you've taken the multiple that was, you know, 11 or 12 and at times you've tripled it, now you've come back a little bit. >> what have other multiples done, though? everything that we do is on a relative basis. there's a lot of other places you can go that have a more

stretched multiple than apple, and when times are uncertain, and when rates are going through the roof, you want a cash fortified balance sheet where the company does not need to borrow. >> the perception is that it's defense. and when things hit the fan -- >> i would push back a little bit and say, microsoft's rerated, but it's always been a soft four multiple. apple's rerated from a hardware company to a software company. you can't tell me that the other megacap techs haven't relarated less than apple. all the defensive things are very true. >> to a software company at a time when people might be pulling back, particularly in the app store, right? >> which is why they get the multiple that they get. all the things that the analysts pointed out are things that we've said for awhile. when this stock is making all-time highs, which it typically does a couple times a year, that whole own it, don't trade it, makes a lot of sense. problem, of course, is, five, six, seven times over the last five, six, seven years, you've

had peak to trough declines. >> it's traded really well. you can't argue with that. >> stock does go down, i guess, is the point. >> right. julie, how expensive is too expensive for apple in your view? >> you know, there's no such thing as, like, a perfect price target. i think for me, out's relative to everything else you have in your basket, if this remains your highest quality holding, you don't just want to hold it because it's hit your artificial price target, which, you know, i think if we look at how much the stock price has moved just in this last year, right? it really kind of points to the fact that valuation is pretty subjective and oftentimes very emotional, so, you know, i would just say, i think people are willing to pay for quality right now, and i think it makes sense to do so, but you really have to bear in mind, it's been relative to what else you own, also. >> so, here's a question -- >> okay. >> and i can put this in the would you rather, which steve snuck it in. >> package this any way you want. >> it didn't go by me without noticing. would you rather a t-bill right

now or apple stock? >> what's my horizon? >> the next six months. >> until there's another speaker. >> six months. tim? >> t-bill. >> t-bill? >> i'm in apple. >> guy? >> i'll go treasuries. i'll play your game correctly. >> julie? >> apple, absolutely. >> wow, we're split right down the middle. >> interesting. okay. >> you want to break the tie? >> i'm not -- just asking a question. >> she's agnostic. >> i'm switzerland. >> for now. coming p, looking for a home run in health care space. the bases are loaded with three names that our next guest says are grand valslam investments. jared holz is here with the names and the pitches, when "fast money" returns.

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welcome back to "fast money." stocks closing near session highs today, as treasury yields dipped. the dow jumpin ing nearly 130 points. the tech-heavy nasdaq leading the gains, up 1.3%, its best day since august. the consumer december krigs their sector leading the s&p

higher. cruise lines and hotel stocks helping boost the group. and look at shares of clorox. the company slashing sales and profit estimates largely because of a cyber attack that affected operations. >> wow. >> the ability not to push price increases, but the cyber attack. that's kind of interesting. meantime, as we head into baseball's postseason, we are bringing back the fast pitch, with a focus on health care. >> sweet. >> eli lilly and knovo nordisk have been taking the lead in this space, but our next guest says some other names are about to break out. jared holz joins us on-set to make the long case for these particular stocks. and hes caralth care overall han terrible but these two names. and investors that might want to cycle out of these names, take some money off the table, you are looking at three others. >> yeah, i think so, i'm trying to find other means of hope in a

sector that's been terrible for most of the year. i mean, it's really very -- there's very narrow leadership, lilly and novo, we've discussed so many times this year. there have to be other things to own. so, i think abbvie, for me, in large cap far ma, is pretty well positioned. they are going through their patent law as we speak. we don't have to wait and fear for 2027, '28, '29. we're in it now. they're introducing new products and markets that they know very well, those products are doing very well as we speak. the multiple is pretty low, it seems like earnings are basing around $11 and they're probably going to tick up from here. so, i feel like it's palatable, maybe not a home run, but certainly maybe a double -- >> slap a double up the alley, something like that. >> yeah, a double in the gap or something would be fine, given where we've been. i think biogen, for years we've been talking about an

alzheimer's drug, it's finally here, no one cares, because the stock has gone straight down. obviously there's some logistical concerns about 1 leqemi, are parablpatients goin get it? you have to get these patients to iv centers. meanwhile, finally a treatment that works, and they're going to, you know, it rate this and make it better in future years, so, i think that one's fine, too. >> feels like merck got caught up in this selling, so, selling everything, ask questions later, but at a certain point, merck, i think, gifts in sgetting intere. i have to believe they're on your radar screen, as well. >> agree. we've been talking about keytruda as the biggest blockbuster that's going to decline over the next few years. not actually over the near term, towards the end of the decade. i think they've done everything right. keytruda's beaten almost every quarter. massive drug, there's thousands

of clinical trials that are using keytruda as a backbone in oncology. plus, they've done two really, really smart deals over the past couple of years, both around $10 billion, $12 billion. they can do more if they wanted to. but that's another one. we haven't seen this stock trade so low. if you strip out animal health, which is a small piece of the business, the pharma business is around 11, 12 times earnings, which i feel like given everything we've seen happen to e lilily there's probably some value here. again, may not be 120 soon or 130, but i think you're getting a very good price if you have some time. >> is there firepower in the pharma space, the bigger players, to do acquisitions, as lilly did just yesterday? usually, when you see a deal, you see a perkup in xbi, with the hopes, and really the only thing that moved on the back of the acquisition, which is exactly the same sort of business, that wasn't a big stretch. but there was no perkup overall

in other potential targets out there. >> totally right. it kind of validated that whole relationship. for the last year or two, m&a has not been a driver of sector performance. we write as though it is, and every biotech analyst on the planet will tell you that m&a is the biggest driver of this space, and it has done nothing to improve the complexion of the xbi, and to answer your first question, yes there's a tremendous amount of firepower. i think most investors probably suspected there would be more activity. it's possible that the pfizer deal and the amgen deal slow things up a little bit, but there's so much money out there. there has to be more. >> jared, let's go back to the baseball analogy. we're not talking about a singles letter, you're swinging for the fences, for a company that's got as much progress in alzheimer's as anybody. and it's trading at a cheap melt pl. let's stay with the sports analogy. when someone's a cancer in the

clubhouse, it means that no one trusts them and, you know, they're bringing down everybody else around them. on some level, that's been the problem here, too, especially with some of these announcements around alzheimer's. the market doesn't believe them. they don't believe this granl wall launch, what seemed like very, very conservative estimates out there. so, isn't this really -- i think this is -- the three stocks you brought, the one that has the most upside. >> it might. if they get the launch right and they continue to innovate and this becomes an injectable drug and not one where you have to go to a hospital center to get infused for an hour twice a month, i think this -- there's a lot of upside here. i think there's obviously some ptsd in this stock, it has not made investors any money. that's the problem with health care in general. it's not been a money maker over the past five to ten years, so, there is some historical look-back and it's not positive. but if they start to get their act together here there's a new ceo, they've just did -- they did a deal which i think most people are pretty positive on. yes, it can get its mojo back,

but it might take time. i would have thought that people would have cared more. the street would have cared more and it seems like there's still apathy. maybe another quarter of results and this thing can get going. >> are you feeling like investors are tired of waiting for the sector to snap out of it? and with -- with i mean, t-bills are a real competition. >> kind of like yankee fans, right? >> i have -- i haven't seen health care investors this kind of, like, broadly despondent in -- since i've been doing this, really, because no -- no area within the industry has really worked. you have two major winners, a couple bets have worked and paid off, but by and large, med tech is down, life signs tools are down, pharma, there's just no beacon of hope. so, i think investors are starting to get very concerned about, if this doesn't turn at some point soon, it's going to be more trouble, for sure. >> jared, thank you for coming by.

>> thank you. >> always good to see you. >> love jared. it's interesting, bio gen, it closed at 260 something. now with that said, you've seen 40%, 50% move in this stock. if they get alzheimer's right, it goes from a $30 billion company to a $100 billion company. tim makes a good point. but merck, to me, the most interesting in the group. >> i self-would you rathered a few weeks ago -- >> you did it tonight, too. >> and he's kind of doing it now. >> well, tim's been cryptic the whole night, so, i need a decoder ring on your analogies. >> oh. okay. >> i'm good. >> baseball -- >> baseball, yeah. >> it's all right. >> people watch baseball except in tampa. >> amgen, you named it the holy grail on the glp inhibitors, and what's really sucked uppal the oxygen in the room, the vaccine makers, then it turned into the obesity makers. you look at that chart, against an eli lilly, and amgen's obesity drug is starting to

ramp, again some attention. that's going to be the next big winner in the space. >> julie, how are you feeling about health care these days, pharma? >> i mean, with us, it's really hard to get excited about something that's so buy inary, i'm more comfortable with businesses that are either supplying the pharma companies, so, something like a certara that does bio simulation for them, or a company like west pharmaceutical, which does the vials and the drug delivery mechanism, so that you're not dependent on fdaapprovals and patent cliffs. coming up, a dining drag. how resuming student loan payments could impact the restaurant space. should you waste your time on these names? that's next. and cnbc is celebrating hispanic heritage. here's the senior vp of coca-cola. >> i proudly embrace my hispanic heritage, because my heritage is deeply rooted in family values, and at the same time, hispanics boost companies through the

millions of small businesses they own. innovating science and tech, holding patents in space technology, or winning nobel prizes in chemistry. and play critical roles in public service, from congress to the u.s. supreme court to many other areas. hispanic americans are, and will continue to be, a driving force for progress.

welcome back to "fast money." restaurant stock profits getting burned recently. red robin, shake shake, papa john's and more deep in the red over the past month. should you 86 these stocks from your portfolio? tim, you brought up the poor performance of this group earlier today. >> well, it's a combination of, you know, we talked about labor costs, we brought the minimum wage dynamics, cost inputs, margin, the great pull forward, and now we're talking about just, to some extent, where, i think, the consumer being stretched, where are they going to trade down? there are certain segments that probably work, but you look at a mcdonald's, and this is -- this is a company that i don't own and i want to own it. and i'm going to get there, because i think, you know, it went from a multiple, traded close to 300, which was, you know, 31, 32 times and it's a

great, great company. the global scale, the global brand, the efficiencies there. i think restaurant stocks go lower. >> yeah, a really interesting note, trying to sort of figure out, tease out the implication of student loan repayments and said between 2% and 3% of u.s. discretionary spending could disappear because of student loan repayments, and that will really impact the restaurant stocks. see a lot of tradedowns happening within the space. >> makes a lot of sense. tim's right about mcdonald's. you're getting it at a price you haven't seen in awhile. we're still in a ten-year uptrend, which is intact, despite this move lower. it's remarkable how -- and it has sold off a little bit, but cmg hangs in there like a champ. and that's in the face of a crazy valuation, and in an environment where the market seemingly cares. >> expensive burrito. those things aren't cheap. >> well, i know that. you want to sort of -- >> how much is your burrito with the extra chicken, no -- >> $13. >> i was there the other night. >> 13. yeah. by the way, they -- when you get

there near closing, they don't have all the ingredients. >> do you get a discount? >> why didn't you go earlier? >> that's the first thing. >> what are you doing at 11:00 at night that you need a burrito? >> look, i'm usy, all right? i'm busy. >> apparently. >> before the pint of ben and jerry's or afterwards? >> that follows. that's in the freezer already. now that we know my diet. >> julie, how do you feel about restaurant stocks? >> i think i agree that the, you know, there is a lot of risk in terms of both tradedown and student loan forgiveness. my only kind of wonder is if workers are having to come back to the office more and as the tide turns towards that, does that help some of these businesses with their lunch category? and that's a high margin for some companies. but that's the only -- i generally am pretty gun shy on restaurants. all right, coming up, would you buy this stock? based on this chart?

>> i'm nervous. >> see if our trade r would. it's coming up next. and jim cramer is chatting with the ceo of molson coors. that's coming up on "mad money." more "fast money" in two.

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welcome back to "fast money." it is time now to play america's favorite game -- >> trade it or fade it! >> it really is america's favorite game. trade it or fade it. but there is a wrinkle in today's episode. the traders don't know the stock or the fundamentals. we're just going to show them a chart and they have to decide based on what they see if that chart. it is the trade it or fade it blind chart edition. this name is up 5% over the past year, but it's seen most of its strength since december. based on this chart, would you trade it or fade it? julie, what do you think? >> you know, prior to meeting carter worth, i always thought that charting was kind of, like, astrology for finance bros, but i've come to see there's at lot of wisdom to what he says. i'm going to fade it, because i don't understand topping or bottoming. the only toppings i know are

guacamole. >> all right, steve grasso? >> there's something in this chart for everyone. because you made a lower high and you also made a higher low. so, there has to be a day of reckoning on this. so, there really is no wrong answer on this one, but i would fade it, because of the low. >> tim? >> i see that chart is holding that uptrend going back, you know, to early part of the year. it's only up 5% year over year, but -- can i give the name of that? i'm trading it. >> not going to give the name yet. we're not giving the name yet. >> trading it. >> guy? >> i think steve's right. lower series of lower highs. the uptrend that's been in place -- >> throwing out the pennant formation. look at that. >> it is a bit of a pennant formation. i can see that. and if you think the broader markets have run into some trouble, that's a trade you may want to fade. >> interestingly, let's -- >> wait, wait. >> we wrote it down. look what we did.

tesla, tesla. >> i thought it was microsoft. >> tesla. >> tesla. >> i got it right. >> you thought it was microsoft? that's what he had written down. >> i didn't really even look at the chart. i'm joking. >> i know why you did that. if you told me it was tesla, i wouldn't want to buy it. >> that's why we did this. >> need to do it more often. >> no biases. >> can you imagine if dan was here? >> oh. lose his mind. >> what would he say? >> i'm dying to know what carter worth would say. maybe he'll -- >> no lines, no -- >> no -- >> let's look at it together. let's do this together. >> we did figure it out. three fields, one buy from tim, who has not liked tesla for a long time. check out shares of rivian. watching that one. increase in deliveries there is a release saying that the company announces a green convertible senior notes offering totaling $1.5 billion. we're seeing that decline in the stock of 7% at this hour.

it would be smart to raise money. >> uh-huh. >> at this point in time -- >> when you can. >> yeah, so -- >> i'm looking at it now, it's probably paying for it in the aftermarket. it's going to be contingent on -- it's had a decent run. how well does it hold on these levels? that's what we have to wait and see. >> the stock was up 9% in regular hours, so, they figured today is as good a time as any to do it. this has been a level where it's held pretty recently, so -- i still own it, i think that you probably see people go in and buy it. no one's going to remember this in a weak from now, hopefully. up next, final trades.

with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. final trade time. julie? >> jack and henry -- >> tim seymour? >> i liked our baseball theme bio tech segment. bio gen is interesting here. >> steve? >> rivian, massive move since june. i'm still long the name.

>> tim talked about bad clubhouses in mlb, i mean, it happened at shea all year. this is going to be a house cleaning. med medtronic, mel. >> thank you for watching "fast money." meantime. don't gonyer awhe. "mad money" with jim cramer starts right now. is to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm just trying to make you some money. my job isn't just to entertain you but to educate and teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. is it finally time to dust off the march play book? remember, this market got crushed in f