>> it's ugly >> how low the expectations were that's -- that's not a high bar that they had to -- yeah, there we go. >> absolutely not. >> oh. >> yeah. okay >> not a lot of live stored up >> we're going to keep an eye on all of it. that's going to do it for us here at "overtime. >> yeah. "fast money" starts 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 a bank breakdown the warnings that sent these stocks tumbling today. and how you can trade the moves. plus, we're counting down to tomorrow's big cpi print the last big data point before the fed is expected to cut rates. what tomorrow's number could mean for the central bank. and on the brink wnba star cameron brink joins us live from game plan in l.a. what she says is driving a surge in interest in the league and how she's looking to build her brand. i'm melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- karen finerman, julie biel, die

adami, and dan nathan. julie beal is in the house we start off with big trouble in the big banks. jpmorgan falling 7.5% after its president said he expects 2025 net interest income to come in below expectations pinto joins a chorus of bank execss tempering outlooks citi's cfo warned of a credit crunch and brian moynihan told our sara eisen he expects mixed results in the upcoming quarter. >> our trading revenue is sort of -- we think it will be up low single digits, that's kind of counter to what we've heard. >> goldman said down 10% >> investment banking revenue will be softer, because our mix of business in this quarter won't be strong. >> check out shares of ally financial dropping over 17% after the company said credit challenges are increasing, particularly around auto loans so, are the banks sending

signals that a true slowdown is here there's a lot to unpack. but i turn to you for jpmorgan and banks. >> so, jpmorgan, i -- you know, my gut reaction to seeing the stock down $16 was, wow, this is probably overdone. it rallied a little, i thought, all right, let me just listen to exactly what he said, and anyone can do that, you just go on jpmorgan investor relations, even if you weren't at that conference, they put it on so, just a little psa there. and it wasn't about this quarter, it was about next year, he said there would be net interest income a little too optimistic i don't know how much optimistic means in terms of billions, right? at 91 1/2, he said a little optimistic so, you know, i took a little bit of hair cut there. he talked about expenses, actually that the street was a little too optimistic there, as well took a little bit more they're also not going to be doing aggressive buy-backs, which is not particularly new. and so it was -- it was an

overreaction, but it wasn't a crazy reaction, particularly when you step back and say, wow, where has this stock gone in the two weeks before this? and we knew that there would be a -- sort of restructuring, we don't know what it is. >> right >> but there is one thing outstanding that is sort of important, which is for the big trading desks, goldman, bank of america, jpmorgan being probably the biggest, is what will the capital requirements be on that part of their business that's really important. and that's still very much up in the air. >> yeah. julie? >> it's central, because so much of the trading business has been driving revenue for these companies and it's challenging for them to find a replacement for that business. based on capital requirements, it's going to be tricky for them to really be able to even forecast the net interest income, this is actually the first bank that's really giving any kind of indication of what 2025 is going to look like, and it makes sense to try to put some conservatism in there, especially if you are

a producer the stock reaction is just a function of expectations being so high, right this stock has really been on a tear >> guy, your take on the fallout here >> i mean, first of all, karen said if you want to hear that call, go to the website, or call karen's phone and listen to her ringtone i think you have to listen to what they're saying. first of all, jamie dimon has been saying similar for quite a long time. when you hear brian moynihan, who is always effervesce sent, talk concerned, i think you take that and throw it on everything else we've heard not only from bank ceos, but a swath of injuries look at the bkx. we just topped out at levels we topped out at in january of 2023 so, i think there's a reason technically also to be concerned. and again, when jamie dimon, it was 2 1/2, 3 months ago said, i think the stock was trading $202, they weren't going to buy back stock at these levels, the stock was rich you know, i think he was right in bringing that up.

and on a price to tangible book, or price to book, historically, it was rich. so, i think the banks -- i understand why people got enthusiastic, the yield curve resteepening, but it's the wrong environment to think they're off to the races >> how do you impute this bank moisic, dan, onto the rest of the markets? >> yeah, well, mel, i was in the same camp as far as karen was this morning, watching, you know, jpmorgan fall off a cliff like that, at one point, down 7% i mean, you would think that something is going on, at least in the markets, maybe the economy, to see that sort of downward pressure on a market leader like that and so, it just items me a little bit that investors were looking for an excuse to kind of move out of a very crowded trade. jamie dimon has been somewhat subdued on the outlook for the bank, for the economy, for the idea that rates were going to come down so hard. so, i find it all a bit curious. the one thing i'll just say about some of the commentary is like, man, we finally have e

equity market volatility we have currency volatility, we have commodity volatility. we have rate volatility. i don't understand how, you know, we're going to see trading down 10% at goldman, that sort of thing so, to me, i think it's very curious. and the last thing i'll say as far as net interest income, it was supposedly going to be great for the money center banks on the way up with yields it was supposedly going to be pretty good on the way down and it seems like there's a chorus of folks getting cautious on that line of income. so, to me, i do think it's a pretty tricky time to try, you know, picking a bottom in some of these names >> pinto said, we're not going to guide down on that yet. so, no formal guidance you have to wonder, when that does come out, what the reaction -- if it trades town again on the same -- >> right, we always talk about that phenomenon, are things trading down on the same news and some other bank will come out and they'll trade down on it i do want to disagree with dan on something, just for the sake of disagreeing with dan, but net interest income has been good

for the banks, and so, you know, for jpmorgan, they have a little bit different mix. this is a little bit of bank of america's mix probably being better now for them, and then maybe seeing a little less net interest income compression, or net interest margin compression, but i would -- if you would say to jamie dimon, are you optimistic about your business overall, going forward -- >> you think we would say -- >> yes jpmorgan is very well positioned, we're in this market, we're in that market we're going to become more efficient. they talked some about productivity enhancements for a.i., which will cost them so get going, but they talked about in processing, in fraud prot protection, one other area that i forgot that -- >> i don't want to split hairs, but -- >> call centers. >> saying that your business is good doesn't necessarily mean that the stock or investors are prepared for that, right >> that's true that's a good point. >> i agree with karen, i think

the more -- if things start to deteriorate in terms of the economy, i think the better prepared and the better suited jpmorgan probably is, so i think both those things can be true, i think you can be concerned about the macro environment and optimistic about his business the way they've positioned themselves, so -- that actually, the worst things get, you can make an argument the better things might be for jpm. >> how are you feeling about the banks, gejulie? >> well, i still struggle to u understand how you differentiate as a bank. i don't find the sector very attractive what i will say, there is this influx of pe and transactions that has to happen, and we're still in a pretty anemic m&a environment. what i like are these smaller boutique investment banks, because then i don't have to worry so much about trading revenue. i zdon't have to worry about ne interest income. it's a cleaner story >> we haven't touched on ally

financial. we've gotten data points from dollar general and the dollar tree and those sorts -- we know that the low-end consumer, that the lower income household, dan, has been having trouble, and this just sort underscores that point, and you saw, you know, a lot of the operators in this sort of income cohort fall on the back of what ally financial said, particularly about auto loans. we saw affirm, we saw discovery, we saw capital one, we saw a lot of them decline on the back of today's comments >> yeah, no doubt. i mean, the knock-on effect to your point about auto loans, you saw auto nation, ford, gm getting hit really hard. when we think about the past credit cycles, we know that it kind of starts in the subprime area, and you first see some of these defaults, or at least the delinquencies in the auto space. we've been talking about it, i think at least through the earnings season over the last two months what became very apparent, other than some weakness on the, you know, high end, a lot of that coming from china, but if you think about the u.s., it's a

tale of two economies in a way i know we're going to hit that a bit later. to start to see a warning sign like this out of ally and see the stock down 17%, it is basically round tripped the entire move of this past year or so it's, again, just like jpmorgan, at one point down 7% you have to take notice of this sort of price action >> over the course of the quarter, credit challenges have increased. and what has phil lebeau telling us about the relationship between rates the fed sets versus auto loan rates auto loan rates are sticky it takes a long time before fed rate cuts catch up with the rate you would pay on an auto loan. >> is this is a leading end kale or the in terms of what it means for credit hyg is not worried it's $79 and change. this thing has been flatlining to slightly higher, probably for the last seven, eight months i guess the question one has to ask again, in sort of this conversation, is, is credit the next sort of shoe to drop? and i think inevitably, the

answer almost has to be yes. i mean, it's not manifesting itself in terms of spreads of hyg or anything else, but i think it's something to be watched. >> so, for ally, obviously, of course, fear of charges to come, not there right now. i think you're looking at different customers at a jpmorgan however, if an ally really does have trouble and chargeoffs go way up, they're all going to get hurt even if it doesn't effect their own credit >> and you've been on the bandwagon of the consumer is going to be really weak, we haven't seen the worst of it, et cetera >> i don't think we've really seen the worst of it, right? we still haven't really even lost any jobs. and that's when you see the cascading effect in terms of credit cycles. the place i continue to be the most concerned, not longer getting the student loan support that a lot of people had been counting on, and once that starts to trickle, you really can see an unwinding of the strength of the consumer >> just add one thing.

delinquencies first that we start to see before they actually end up making their way through the, okay, we have to write it off >> right, chargeoffs okay. it is the last major economic report before next week's fed meeting, the consumer price index is out tomorrow morning. let's bring in michael s schumacher great to see you what is your outlook >> slight little above consensus -- >> so hotter >> a little bit, yeah. .25 people like to think about that second decimal place right now it's crazy but that's the way it goes just a touch above consensus but i do think the inflation genie is just about back in the bottle it's more about consumer, recession, growth, that's where the market focus is now. >> .25 would make it 25 basis points would be in the cards for the fed, much more son than -- >> than 50, that's right if it comes out at .1, it's 50,

you have markets doing, i think, a victory dance. but .25 would be challenging >> you think the markets would rally more on a 50-basis point cut or -- >> be careful what you wish for? >> right is good news good news or is good news bad news i'd say in the near term, people do look at the fed and markets are taking their coupes very much from fed expectations or other central bank expectations. look at the data, think about the fed's lens how does the fed see it and then react. >> it's a little bit of a rubik's cube you get the red side fixed, then the green side is screwed up i say that in terms of jobs and inflation. maybe they figured out the inflation portion, i'm not convinced, but on the flip side, as we were just talking about, julie is concerned about the employment side that's going to escape velocity. so, they may fax oix one at the expense of the other that's the next story, i think >> the employment indicator has been lagging

if you look at the quits rate, if you look at jolts, et cetera, they've been weakening for quite some time. and we finally have this uptick in unemployment. from the clients i talk to, it really caused a big stir when it triggered the rule, a bit more than a month ago people said, wow, it's a great indicator, it's .50, that's bad. people are looking much more slightly i would say the employment indicators, than they had been but you don't get the next report for awhile. tomorrow, yes, all about inflation with this little debate thing, i believe is tonight, as well so, that may get some attention, but i do think you're right, though, guy, it's going to shift back to the labor market pretty soon >> so, just addressing the politics of it, do you think that plays into the 25 or 50 that the fed is contemplating, we'll see the data, of course, but is that an element that moves them >> probably not in the near term, karen. i think longer term, if you say, well, what if donald trump withins, forget the debate, but the election, what's the likely configuration of congress,

probably it's unified republican control what does that mean? bigger deficits, the fed says, oh, lots of deficits, lots of fiscal support we, the fed, probably won't need to cut as much where as if kamala harris wins, yes, democrats could win the senate, but it's a much tougher road so, i'd say, in that case, you get more likely the fed thinking, hmm, probably not going to get deficits as big, we then have to cut a bit more. down the road, it matters quite a bit. markets may shift their probabilities a little more, depending on what happens tonight. >> so, just looking at the various scenarios, what is the best case scenario, election-wise, for the markets and i know it's early going, there's a lot of road between now and november, but still, what -- from clients what are you hearing? >> markets like divided government >> right >> they'd like to see more fiscal restraint you just haven't had it in washington in quite some time. and not even just in the u.s., but in other countries, as well. so, some line up where it is divided. that's the best. whether it's democrat in the

white house and republicans having the senate or some other scenario, doesn't matter so much, buddy slided is what people want to see >> michael, thank you for coming by michael she schumacher of wells fargo. julie? >> i'm hoping we get a softer number, but i think i'm pretty concerned about the longer term outlook. if you think about investor expectations and the setup for 2025, people are expecting double-digit growth in the s&p, and they're expecting, you know, multiple rate cuts that's only happened once in 1984, which is when my firm was founded. >> ah. >> interesting >> that is a very tall ask and that means that expectations are very high, and high expectations lead to broken hearts, usually. >> needlepointed on a pillow somewhere at the biel household. dan nathan, what is your take? >> well, i think it's interesting.

guy just mentioned unemployment. if unemployment is going to be going up, then i would expect wage growth is going down. and that's a huge component to inflation. and if you look at some of the inflation break evens, it's suggesting that, you know, we're going to be below 2% in the not too distance future. and i say to myself, okay, well, is this a stagflationary environment? if the economy is weakening, too, and so -- it's a difficult picture. i mean, if inflation starts to come down faster than expected, it is easy to make the case why the fed should go on auto pilot and start cutting interest rates, call it 25 basis points at a time. now, if the economy falls out of bed, then they're going to get a bit more aggressive, not too different than what happened in 2022 when they were raising interest rates to combat inflation. last thing i'll just say is that china, as this engine of growth that no longer exists, if you look at some of the readings that we're getting over there, it's massively deflationary. so, to me, i just really think that the lack of inflation

should be the story going g forward, and a soft cpi only makes the case of why the fed should start cutting sooner than later. >> where do we buy a lot of goods from where are they manufactured? in china deflation over there could potentially be exported here, too. there's a lot of expectations that the housing component will come down, because rents have really gone down >> insurance component, though, is not going anywhere. and that's been a huge factor. and we've talked about that for awhile, so -- listen, i get it i mean, people will say they've t tamed the inflation dragon we shall see but i'm telling you, if they go 50, that genie is going to be right out of the bottle. if you saw richard fisher on "squawk box" this morning -- >> yes >> by the way, happy anniversary. >> 20th anniversary of being a cnbc contributor >> he was enthusiastic about that >> should be >> but he said for a myriad of different reasons, specifically, too, he didn't see 50. one being whether it's political or not, it would be made political, something we've said, and two, it might send the wrong message to the market in terms

of what are they scared of coming up, jensen huang set to speak with the goldman sachs ceo tomorrow what investors are hoping to hear that's next. plus, bitcoin's been range-bound for the last few months, but could there be a breakout on the horizon? the next move in the crypto space, and how the a.i. surge will impact the bitcoin mining space. don't go anywhere. more "fast money" in two your people are buried in busy work. and you might be thinking... can ai make it all work? can ai help your people work... without all the workarounds? feel better. make customer service work the way customers expect? that one. make your old tech work with your new tech? thank you. and todd here is wondering, can ai do all that... now? no pressure. it can. on the servicenow platform,

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with security and get started for $49.99 a month. plus ask how to get up to a $500 prepaid card. call today! welcome back to "fast money. nvidia ceo jijensen huang speakn tomorrow morning gross margins, a major concern for investors after its latest earnings report. guidance was slightly lower than expected so, what do you want to hear tomorrow, dan nathan >> yeah, i think, listen, first things first, he's going to be in front of a very agreeable office at a goldman tech conference and i think if you think back to august 28th, when the company reported, again, big beats, good raises, but just not good enough the expectations, whatever julie just said about expectations and broken hearts. i mean, that's what's happened over the least month and a half, down 25% or so what i think investors want to hear a little more clarity on is

what the delays look like for this blackwell, this next generation gpu how long it's going to be, and what is the impact going to be if people are basically pulling back from purchases of this hopper, because they're waiting for blackwell, what does that transition look like from a margin perspective earlier this year, investors were very happy to see margins get above 70% on their way to high 70s if they are working their way back down, it doesn't leave a lot of room for the stock to appreciate, in my opinion, before we get more clarity on this transition to blackwell. >> his credibility, jensen huang's credibility, a little bit, is sort of on the line, or, it will be questioned if they can't explain blackwell. he did say two quarters ago, we're going to have a lot of black well revenue this year so, there's not a lot left time until the end of the year to get that blackwell revenue if the delays persist >> yes, though i do think it's about demand, not so much supply, right? if they're late --

>> delayed, not denied >> delayed, not denied, because there is no other place to go right now, amd somewhat. to me, i thought -- i agree with everything dan said. i think that nvidia, i thought that call from oracle last night was very, very, very bullish, and yet the reaction in the stock was pretty muted, up only slightly, so -- it's going to be hard to get excitement, i guess, going again. >> yeah. >> i think it's the same concept of just the level of expectations are so high, and for nvidia in particular, the real question is, how much can these hyperscalers continue to spend on a prolonged basis, right? and so, we can talk about the transitions between the different architectures as much as we want, but what we need are the customers to continue to spend at this level, plus. we need other customers to also be expanding their spend and that, to me, is still a big question mark. >> what is the competitive landscape look like, one, and what's the growth trajectory for revenue? because at current valuations,

historically, you're very rich company on price to revenue. so, i'm curious to know where do the sales trajectories go. >> 10:20 a.m. eastern time is when he's scheduled to speak. there's a lot more "fast money" to come here's what's coming up next. the next moves in crypto bitcoin looking for a breakout h as crypto miners get in on the a.i. surge how the latest advancements in tech could impact the entire space. plus, a biotech block. the house voting to restrict business with chinese companies. how the move could hit drug prices and the impact on u.s. relations with beijing you're watching "fast money," live from the nasdaq market site in times square. we're back right after this.

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t-mobile's 5g network connects a hundred thousand delta employees so they can make every customer feel like they've arrived before they've left the ground. this is how business goes further with t-mobile for business. welcome back to "fast money. bitcoin making a come back after its worst week in more than a year back near the 58 tho,000 level bitcoin miner core scientific announced a partnership with nvidia-backed cloud startup core weave as it looks to diversify from crypto to a.i the stock has nearly tripled since relisting in january

adam sullivan is with us now what is your forecast, crypto versus a.i.? >> looking forward to 2025 and 2026, we're going to be much more towards hype performance computing revenue. >> so a.i., basically. >> for a layperson >> yep >> so, when we're talking about a.i. and we're talking about the spending of hyperscalers, et cetera, what are sort of the key words that you hear that indicate to you that demand for your business will be up >> well, we're seeing the demand today. when we went out and marketed our first set of -- first set of sites, what we've seen so far is demand not only from some of the largest tech companies in the industry, but also from much smaller companies who are l looking for smaller allocations, from nvidia, and we expect that to be an exceptional demand vector for us over the course of the next few years >> rose like a phoenix, adam, congratulations. goldman sachs had a note in the spring about a.i. in infrastructure, and the opportunities there. speak to that, because you're

probably at the forefront. >> yeah, so, core scientific, we're a digital infrastructure company at heart, and that helped us be the largest bitcoin mining company in the last three years. as we look forward to the next three years, how do we continue to develop high performance computing capacity for this major growth vector? and that's mainly being driven by a.i that's what we've been capitalizing on, first with core weave, and we're excited to be working on a number of new clients coming down the pipeline in 2024. >> so, you said -- we talked before you got on about how are you powered, right, which is from the grid, and -- are you -- are the concerns about that? how do you feel about -- do you want to diversify to more renewable? how do you think about that? >> we're working with different renewable providers. the one challenge, if you have renewable energy as your sole source of power, you are only up about 30% to 40% of the time so, you need the utility connection to have that power,

because data centers require 100% up time >> in talking about your customer base kind of expanding, what are the smaller customers starting to use these workloads for? what is that growth coming from? >> it's mainly coming from training so, a lot of smaller companies are looking at attacking very specific training of models. so, not these broad-based models that we're seeing today like chatgpt, these are very specific, focused on the medical space, or the legal space. and so, we expect to see a lot more successful companies coming out of very bespoke industries where they are able to carve out their neaiche >> obviously tonight's a big night for debates for politics and president trump has said he wants every single bitcoin mined to be mined in the united states would that change much in reality, and would that actually be good for your business? >> well, today, bitcoin miners represent -- about 40% of them are located in the united states which is exceptionally high.

so, as we look forward, you know, forward-looking energy policy is good not only for bitcoin miners, but also good for the broad industrial and manufacturing industry, as well. so, we're supportive of folks who are forward thinkers on energy policy to bring more generation to the united states. >> adam, thank you adam sullivan. >> cool story. probably half a billion dollars of revenue, up to three quarters of a billion going to be, i think, profitable, i'm not good at the guess. but bernstein just had a note, $17 price target, saying that corz is uniquely positioned to take advantage of what's going on despite the fact the stock's had a big move, there's further upside. coming up, the crude crush continues. oil prices closing back in on the $65 mark in today's session. what's behind this move? and should investors brace for more in emergency weakness first, congress is taking on china's biotech industry a deep dive into new legislation and the shopwave shockwaves it n through the industry more "fast money" after this

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stocks closing mixed the dow falling 92 points. the s&p up half a percent and the nasdaq climbing 0.8% shares of boot barn jumping 10% to an all-time high after posting strong sales growth this morning. the ceo saying the retailer is benefits from new store opening in multiple markets. and shares of game stop sinking afterhours the company filing to sell up to 20 million class a shares. the stock is down 7% the house of representatives overwhelmingly passed a bio secure act late on monday, aiming to restrict business with chinese biotech companies and their subsidiaries in the u.s. the specific chinese firms called out in the bill dropping sharply in today's session for more on the legislation's potential impact, let's bring in emily wilkins. hi, emily. >> hey, melissa. yes, u.s. pharmaceutical companies are now on notice they need to start breaking up with their chinese counterparts the measure passed last night would give drug manufacturers up to eight years to remove chinese companies or companies of other

foreign adversaries from their supply chains. if they don't, those products won't be eligible for federal contracts, programs, or funding. now, several so-called companies of concern are listed in the bill, you had a few of them just up on the screen, wuxi, bgi, mgi. the industry is facing a sm shortage of drugs, but the biotechnology innovation organization said that the measure provides a reasonable timeline to make this change now, the bill is more than one of a dozen set to be voted on by lawmakers this week. it's meant to set limits on chinese companies in evs, batteries, drones, among other things spoke with steve scalise and he said the focus on china and the ccp is partially a response to escalating behavior from china's government >> china's gotten more aggressive, and i think their aggression has really sparked a

lot more interest in confronting what they're doing and so, you know, we surely don't want to be flat-footed, and i think for a few years, america was flat-footed to that threat that china poses. >> one bill is raising concerns among asian american lawmakers a measure that would bring back an espionage program the department of justice, and that program was criticized for targeting foreigners melissa? >> emily, how unusual is it for legislation to actually target specific companies because it seems like it's been happening specifically with chinese companies, whether it be tiktok or this bill, which actually names the companies which pharmaceutical companies would have to, you know, limit their dealings with. >> melissa, it's really not common, in fact, by naming some of these companies, it does risk potentially violating the law, but these companies have been named in here, more could potentially be named the bill sets up a process by which that could happen. as you point out, we have seen it a little bit more recently.

we see it in this bill, in tiktok when it comes particularly to the pharmaceutical bill, i should note that beyond having strong bipartisan support in the house, it also has pretty strong support in the senate, so, this is one of those bills, could wine up becoming law before the end of the year. >> emily, thank you. emily wilkins. now, what is interesting, because many people will know about wuxi and the role it plays in the pharmaceutical industry, it has played a role in 1 out of every 4 drugs used in the united states so, it's been a contract player in this industry for a very long time, and it makes actually the critical components for a lot of other drugs, leukemia treatments that are currently on the market >> what do you think of that time frame of eight years? >> it does seem like -- it seems like enough time >> uh-huh. >> but the question is, what's the reasoning behind it? and do we set up a framework where we are just going to be, dare i say, seine phobic >> right >> protectionism to an extreme

are we thinking about this in the right framework, you know, instead of naming specific companies and wanting to pick out winners and losers in the market, whether they be in the china market or elsewhere, is that what we should be doing as a country, as capitalistic country? >> that's the overarching theme. a lot of the issues came to light during covid dependent upon blah blah so, there's no doubt that it's a great conversation, it's one worthy of having, but the bigger picture is, what does it mean, again, it's very inflationary, i think. and then one has to wonder what happens sort of the quid pro quo side of things what happens on the retaliation front, which is something i've been concerned about unfounded, by the way, because nothing's happened but it doesn't mean it won't >> for smaller bio tech companies, this will have much more of an impact than larger companies. a lot of vcs are saying a lot of their portfolio bio tech companies, they are dealing with this issue, as well, because they use these services. they outsource the research and development part of it to these chinese companies.

>> that's why the cycles are so long, right? that's why eight years feels like a long time, but when you are two drdeveloping these prod, that is how long it takes for them to get to market. we underestimate how much collaboration there is so much of the outsources that happens, particularly on the genetic front. i can understand the governments wanting to keep more of this ip internally, but we are not set up for that. the way our bio tech is set up, it's not set up to do it that way. >> like a lot of other things when you bring processes back to the united states, what happens? >> gets more expensive >> exactly. coming p, crude oil prices taking a hit where the commodity is headed next and live from cnbc and board room's game plan conference in l.a., wnba star cameron brink. she'll join us next to talk basketball, brands, partnerships, and much more. that interview when "fast money" returns.

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welcome back to "fast money. crude oil continues its decline. wti down 4% today, hitting levels not seen since december 2021 it's now down nearly 25% over the past year, and taking new york stenergy stocks down with t it is the only sector down over the last 12 months dan?

>> yeah, you know, it's interesting. you have crude oil at 52-week lows, yields at 52-week lows, sorry about that, and you have the dollar at 52-week lows, but the s&p 500 down 3%. so, something's got to give right here i suspect you see a bounce in the dollar in the not so distant future >> the c in clam is either konno c c conoco or chevron -- >> lam is doing fine >> it is doing fine. it's been a touch slog, and now the equity is starting to roll over oih is down 265 or so. exxon down to 110. i get it, i understand what's going on here. i look at a name like oxy, which is trading $51 and change, and warren buffett probably owns 30%. he clearly sees something, whether it's in the space or that stock specifically. that stock, he's going to wind up buying, so, if you are looking for a binary play here,

i think $51, oxy on the back of berkshire hathaway finally pulling the trigger is your best bet. coming up, from basketball toened bras. wnba star cameron brink will join us from the game plan conference in l.a. how she's winning on and off the court. that interview is next more "fast money" in two♪ citi's industry leading global payments solutions help their clients move money around the world seamlessly in over 180 countries... and help a partner like the world food programme as they provide more than food to people in need. together, citi and the world food programme empower families across the globe. ♪♪ ♪♪ rising costs. selective coverage. for countless americans, the complex specialty care they need has always felt... just out of reach. ♪♪

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welcome back to "fast money. cnbc and board room's game plan conference taking place today in los angeles. tackling topics like streaming, the future of sports betting and beyond the wnba is one of the fastest growing leagues in the world, thanks in part to a massive influx of rookie star power this year our julia boorstin is live with los angeles sparks forward cameron brink. julia, take it away. >> melissa, thank you so much. and cameron, thank you so much for joining us you know, you were number two overall wnba draft pick, and you are coming off record ratings for the women's ncaa season. what do you think is driving this interest, not just in the wnba, which also had a big surge in ratings, but just women's sports in general? >> yeah, i mean, that's such a great question i think it's really been social

media and we've really been able to brand ourselves without, you know, brands having to partner with us. we're able to put our stories out there. i think -- i always say this, but we have to look to the women before us that have kind of been building this path for us, so, you know, without the lisa leslies of the world, we wouldn't be here >> you mentioned social media. you've been building your audience on social media since you were in high school. and that's led you to have an amazing assortment of brand partners, including new balance. how do you think about finding the brand partners that make the most sense for you >> my parents have always said this, but if you just act authentically in the world, people will come to you, so, i feel like i've done a good job of just being myself and, you know, brands like new balance came to me and gave me the best opportunity to work with them, and i align with everything they align with, and they're a great company, and i get to work with other brands like skims before this season, and legal zoom, i actually did a shoot with them right after i got injured, but

they've all been so accommodating and so helpful, even through, you know, rehab and everything, so, it's been really great >> and through your rehab, you've been not just at the games, but continuing to communicate with your fans on social media what do you think the advantages of that, and do you think you're bringing in new fans who maybe didn't watch the wnba before >> i mophope so. sometimes i get to be there in pregame and put on a cute outfit and connect to people that are more into fashion, like, i love makeup i hold a girls basketball camp, so, hopefully i connect with young girls, so, you know, even though i've had a small setback, social media has been a great platform for me to continue to show the world that i'm still going at things and still being a businesswoman. >> karen finerman, who is an investor in the wnba, has a question for you karen? >> yeah, hi, cameron, thank you so much for being on i'm a diehard new york liberty fan, because i live here, but i'm a stanford women's basketball fan, so, therefore, a big fan of yours i wonder if you could tell us

about how you found the transition from college basketball to a sort of really energized wnba, and i know, obviously, you were injured, hopefully ready for next year. how was that transition before that >> to be frank, it's really hard i think going straight from the college season to the draft, which is really tiresome, but amazing, and then i went into an olympic trial for three-on-three and the season starts. and training camp. so, it's a lot and i think a lot is demanded of our bodies and, you know, when i got to l.a., it was like, i was on this crazy tour of going to a dodgers game and appearances, so, i was doing a lot. and i definitely think fatigue plays into it. once rookies can kind of get past that first year of just really difficult, you know, mileage on their bodies, i feel like the next year will be a lot easier for us. my best advice to rookies coming in is just take care of your

body and your mental it's really tiresome >> well, we're very grateful to have you here in l.a., and i've taken my son to sparks games, and it is just amazing how diverse the audience is, young men and women at these games i hope you'll talk to us more about your journey we really appreciate you joining us here on "fast money." >> thank you so much for having me >> back to you guys. >> all right, julia, thank you and our thanks to cam brink. so, i mean, this has been an amazing trajectory for the wnba in general >> yes i mean, so many great stars. she was one of them, caitlin clark and cam brink. but it's starting to sort of get sort of the velocity with the giant media deals, and it was sort of chicken and egg, to throw a bunch of meta fors in there, but now it's coming together and the level of play is extraordinary. even melissa came to a game. >> i had an amazing time it was so exciting it was such a great experience >> the level of play is exceptional. and i think even, like, building up on the momentum of the

olympics where people are so much more enthusiastic about women's sports is exciting to see. >> cameron brink's godfather, little known fact, is dell curry. who is dell curry? >> who is dell curry >> he's the father of steph curry. that's pretty cool, right? and you are spot-on in terms of the level of play. it's off the charts, to the point where i'll absolutely watch a wnba game before an nba game for the level of play so, good for them. >> yeah. up next, final trades. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond.

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welcome back to "fast money. the stark divergence between shares ofdollar general and ferrari over the past couple of years may highlight the big difference between main street and wall stroort while the two largely tracked until the start of last year, since then, it's been off to the races so to speak for the luxury car maker, while the dollar store is down sharply. dan? what does this tell you? >> yeah, it goes back to that two economies, but this is dollar, too. i think dollar gen speaks to a lower end consumer here, sadly, and that global luxury consumer is alive and well. >> yeah, julie >> i think it's the lewis hamilton effect, personally. >> that's an f 1 thing, right? >> i guess so. >> came on ron brink would just smoke dan nathan in basketball >> probably two heads taller than dan, i would imagine. dan's a tall guy, but -- she's extremely -- >> he would be trash talking her and she would just be -- >> swat him like a fly

>> yeah. probably >> would you rather -- >> okay. >> oh, did you think i was going to say cameron brink or dan? >> well -- that's cameron brink all day. no, dollar general or ferrari? >> ferrari oh, come on. that's -- yes. ferrari. race race above dg. time for the final trade dan nathan >> yeah, i got to say, shoutout to cnbc and board room this event is amazing out here lots of optimism about the future of sport, culture, and everything above uup. i think the dollar bounces here. >> karen >> yeah, so, a little bit of a bank shakeout here i like citi bank, but wait a da or so. >> julie >> investment banks like mthat, i'm on >> back tomorrow >> i don't know if you have anything to add to this, but you were surprised by how poorly the

jets played on defense last night, given how they came into the season with a vaunted top five defense you say, how do you give up eight consecutive possessions? >> inexplicable. >> so is the move in gilead. >> thank you for watching "fast money. "mad money" with j cmeimrar starts right now. my mission is simple, to make you money. i am here to level the playing field for all investors. there is always a market somewhere and i promise to help you find it. "mad money" starts now. >> i am cramer, welcome to "mad money" friends, i'm trying to make you money. my job is to not just entertain but to explain and educate. so call 1-800-743-cnbc. in this market every time you stray too far from technology, especially