treasury yield. you saw a lot of buying early in the day. that came off a bit. gold continues to trade at record highs. we'll continue to watch the markets. >> of course, the ai story continues to unfold. not everybody seeing a slow adoption. that was insight you got from honeywell. >> thank you. we'll dig into that over the rest of the week asing with, especially as we see the ai stocks sell off today. jon, i'm see you tomorrow. "fast money" starts now. >> live from the nasdaq market site in heart of new york city's times square this is fast money. here's what's on tap. the middle east on the brink. iran launching 200 missiles into israel in response to the killing of a hezbollah leader. we'll have the latest on the attacks and go inside the markets surprisingly muted reaction. plus, on strike. port workers up and down the east and gulf coast walk off the job. could an extended stoppage deal a blow to the economy? we'll debate that.

later, tarnished by a change, inside china's continued new bull run, and the reasonboeing stock had a rare good day. i'm melissa lee live from studio b at the nasdaq. these are my guests to night. we start off with the latest escalation of tensions in the middle east. iran confirming it launched a ballistic missile attack on israel, this after israeli ground forces entered southern lebanon and killed a hezbollah leader. markets dropping on the news, did close off the lows of the session. the s&p 500 down just about 1%. the dow shedding 173 points. the nasdaq the biggest lagger, dropping 1.5%. hit been down 2.25% at lows. meantime, crude oil and gold prices were higher. volatility hit the highest level since mid september. the yield briefly dropping below 3.7%. let's get more on the developments in the mideast. let's go to where tomorrow's iran president and officials of hamas are expected to arrive.

>> we're told by officials with knowledge that the president of iran who still come here to qatar tomorrow morning, less than 24 hours after iran fired on israel from across the water there, almost 200 ballistic missiles were hit out the sky by israel, by the u.s. and allies of israel. there was very little damage inside of israel. but strong words from the iranians, from the revolutionary guard saying that this is one salvo that if israel responds, vowing a crushing response. israel at the same time tonight saying it does plan to respond. so watchers worrying about the potential of an escalation here as both sides do not appear prepared to stand down, despite the fact that iran's attack does not appear to have been

successful. that's worrying, melissa, markets. as you mention, driving the price of gold and oil. melissa? >> thank you. the markets, as bhwe mentioned, muted response. the ball is in israel's court in terms of the response to these attacks? >> netanyahu said, iran made a big mistake in attacking israel with missiles and they will, quoting, pay for it. it appears as though there will be an escalation. we're not rooting for. that but we're tasked to figure out how you look at this through the lens of the markets. defense stocks are doing xr extraordinarily well. you throw up any of these three, they did well today. i think that continues. energy, you know, regardless of what you think about the space, i get it that markets hitting all time highs. exxon is within a whisper of the all time high which i think is remarkable given the lack of love in the space. i think energy stocks are showing signs of life as well,

mel. >> it goes without saying. there is a human side to this. but our job is to try to figure out the market's reaction and what to do about it. the rhetoric seems to be exactly like the april rhetoric. that israel shouldn't respond. if they do, that will be terrible. i think the market rallied on the somewhat muted impact of the attack. and then i think we will see if israel has a measured response, like they did last time. that was sort of an all clear for the market for a while. >> it was. >> so, that's what i am hoping will happen here. we'll see. israel was expecting this for a while. so, we know they're expecting to respond. >> i agree. the parallels and comparisons to april are very, too the market's perspective, to where the market reaction has been. and, in fact, because of that, i think we've gotten a more muted response in oil prices. i think we've gotten a probably

a bigger response in gold and some of the trades that i think are more indicative of just secular trades going on anyway. i think this also comes at a time -- you know, back in april, we were in a shakier place in the market. i mean, right now we have dynamics that include the unexpected china stimulus bonanza, we'll spend time talking about again. we talked about it all last week. generally, a weaker dollar. generally, a pathway in terms of the federal reserve and the rhetoric that we've gotten out of the fed. so where are markets now relative to where we were back in april even though unfortunately, back to both the human side and the political side, this gets more complicated by the day. and that's really what's concerning. i think markets, at some point, could be caught a bit offsides here. but again, we're at all-time highs through the end of last week. this pullback to me is a function of what is going on in the middle east, otherwise, i think we would be going higher. >> i think energy should have been higher. i think in a normal -- we're not in a normal world. i think energy stocks should be

higher. i think crude should have rallied more. i think the defense names, probably are worth investing in here. i think there is going to be still budgeting to go towards defense names going forward. what is iran's goal? just to retaliate? because this is sort of what they did to karen's point in april and what they're saying is don't retaliate because then we're going to loft a crushing blow. that is all rhetoric. do they have the ability to hurt israel right now? or is the iron dome getting in the way? if they wanted to hurt israel, they probably would have done it now. so, it seems like this is just posturing. >> so, it's a limited response. that's what the markets are baking. >> i think israel is going to respond. so, i don't think they're playing for that. so, you could have an extended, if israel responds. and forces their hand. >> for as long as this is -- tim made a very good point in terms of being all time highs

effectively. yet, we have this potential brewing war in the middle east. we have a port strike crippling trade in our country, having a direct impact on gdp by the day that strike goes on. we've got a boeing strike, by the way. and we have an election coming up. the fact that we're still close to all-time highs is remarkable statement to make today. >> speaks to, again, yes, because if you had told me all these thing was happen, we would play this game a lochlt it is like, well, we'll be significant on the s&p 500 and within 1.5% of a all time high. with that said, the vic showed signs of life today. we talked about this 100 times, pa issing investing flows take none of this into consideration whatsoever. and my concern along unfounded it has been when passive become active, it is never active on the way up. it's active on the way down. we'll see. the market dshg-- this is going sound glib -- today showed glimmers of that. >> i do think that some of these are transitory to use a word that could be so loaded, right? i do think ultimately the strike thing will be resolved.

so, that's one. i think, i hope this middle east situation is some what contained with a muted response. that is another one. you can'tfied the fed. that is the most important -- you can't fight the fed. that is the most important factor in the market. >> and the base case that powell outlined, markets year end in terms of rate cuts. >> i will say that we had some ism numbers today and ism numbers around the world that emphasize why policymakers around the world are throwing a lot of stimulus and at least support to markets to asset prices. it's an interesting day. you can make an argument that anything that went on in the treasury market and especially the dollar was a function of a flight to quality. but the ism numbers are ones that also could give bears another opportunity. we've got a huge payroll number suddenly looming on friday. so, let's think about. that think about the setup. think about the setup that could be geopolitics which if anything i would argue were further down

the road. you can make an argument that possibly what china is doing in terms of the stimulus side is playing, first of all, they're playing defense. but they will be embolden by anything that goes on around the world even though i am not making that call on china here. i'm simply saying, we think about geopolitical escalation. and, you know, as far as i'm concerned, we're certainly in a place today that is at least as dangerous as it was back in april. so, i do think you have a setup for markets. again, we're almost 13% up on the s&p 500 from that trintrada low. i think some of that is something to be taken seriously based upon the numbers and the fundamentals we can get going into friday, or on friday. >> i think the fed stay as way from november. i think yesterday listening to chair powell, he didn't seem like he was in a rush to cut again. so, i think he front loaded 50. he stay as way from around the

election. maybe 25, maybe 50 in december. i think the market has to get used to not seeing another 50. >> so, it is notable. you're saying that. >> yeah. i called 57 basispoints for the whole year -- 75 basis points for the whole year. i did get to 50. >> you got it. >> is that your way of complimenting me, you sweetheart? >> no. it really is notable. >> i think they stay away from november. there is a way to look political in november. i think you front loaded 50 to stay away from november. >> it's funny you mentioned august 5th. august 5th is when the vix hit an intraday high. >> way had katie stockton on a month or so about that. she thought you would see a spike in vix. i also believe, i do as well, she thinks you're going to have another round of it. i think volatility will be the theme. i think they were speaking at

grant's conference. bipartisan fiscal recklessness is on the horizon. he is short bonds equivalent of 15% to 20% of the plortfolio. he thinks rates are going higher for the reasonsi thought incorrectly for a while. >> well, i -- you know, no one should be arguing with stan drunkenmiller who has proven over multiple decades here. but the argument and the construct around deficit unfriendly administration doesn't really matter and the fact that both sides of the aisle have been deficit unfriendly now for probably 15 years is something that you think about stimulus. it almost seems like it's free money. it certainly has proven to be. with the global central bank backdrop right now, the u.s. is in a position also, the dollar is in a position to get away with more rather than less. i agree with that. i think, you know, shorting the treasury market with the muscle memory that markets have here also for flight to quality, though, especially in a world where you could have some growth

concerns is something to be -- to be cautious about. >> all right. we want to get to an earning as lert on shares of nike. -- alert on sh announced it is full-year guidance. it is down 8 plus pe call. >> the call just began. this is an awkward one for nike. nike. john donahue was not on the call. it was led by matt friend, the cfo and executive vice president. he said they're withdrawing guidance. so there was some risk that was going to happen, either that or reducing guidance to set the table for the new ceo. they're withdrawing the full guidance altogether. and that leaves analysts guessing on the numbers. other headlines from the call, he thanked john donahue for landing the company through the pandemic and the digital transformation. he's excited, friend said, to welcome elliott back to nike.

it bruz a power connection to our employees and culture. of the employee response has been tremendous. and we do know that. he is very well liked within the organization. we know that he was, for instance, an intern at the company, worked his way up to the head of the consumer marketplace. as far as results, melissa, in line in terms of revenues. down 10 fe down 10% from the year before. key market of north america, down 11% from last year. earnings were a lot better. nike often does this. they can flex muscle on earnings per share and gross margins were better. the key is the outlook going forward. will right now that is blurry. the other piece of news from the release is that nike is postponing the investor day. that was supposed to happen november 19 rth. it makes a lot of sense. the new ceo comes in october 14th. nike has been very clear about the goals and some of the problems the innovation has

lagged. they have missed on the strategy to focusing on direct to consumer. need to focus more on the wholesale partnerships. and in the release, i expect him to talk more about this in the call, said they are starting to see some early wins with the transformation, though, a company has big as nike is a big ship to turn around. one thing i can tell you, they release the peg 41 this quarter. there was a lot of momentum. they did really well. they do have to turn things around starting there. a little bit of wins, clearly too early. they're looking ahead to the next ceo which comes in two weeks. >> >> sayer yashgs thank you. y -- sarah, thank you. you said there was going to be a kitchen sink at the least? >> yeah. the quarter sarah said was fine. but that is not relevant. what is relevant is what is the new ceo going to do? why not withdraw guidance? why do you have to stick to that guidance or miss?

it doesn't make any sense to me. i totally agree with sarah on why do the investor day? he has other things to focus on. those two pieces of information are sort of being overly punishing, i guess, to nike. you know, things were not going well. that's why they have a change in the ceo position. i don't think -- i feel like this is a bit of an overreaction. >> i guess this underscores the notion that maybe a turn around at nike will be longer in terms of time frame than one expects. we're not even going to get a game plan or blueprint for a turn around for a while, for months, probably. >> i don't see you'll see a high water mark where they hit in '24 until '27. the ceo has -- the impact on the sh short term in the analyst multiple and they have nudged it higher, there is very little that they can do. i don't think that there is a whole lot here that investor day that, would have been the first investor day in seven years. why would you have the first investor day in seven years with

a new ceo who has nothing to say? so the market's response here is maybe the mirror opposite of what it did on the day he was announced. i don't think you get too worked up over it. but, again, i'm going to say, you know, we talk about an economic recession and the definition of what is a recession? nike has an earnings recession. they have an eps recession that's going to go from -- they're not going to get past 2023 where they were around $320 a share probably until 2027. and this is at a time when also people are concerned that their dtc business which was lotted and an important part of that multiple is part of why they're out of touch with the consumer. and that's something that i think people are thinking about. >> in line quota has nothing to do with it. sales growth i think was down about, what, i'm looking at it. 10.5% year-over-year. inventory is down 5%. go back and look since november of 2021. this stock made an all-time high around thanks giving of 2021. since then, lower lows and lower highs. and the problem with the stock

given this announcement is the fact that it rallied from $71 to $91 since, i think, middle of september or so. so a lot of good news baked in. first level of support is $78ish. that is a recent loecw. $71 is in the cards. >> i think you get a shot at that 70 level. it is the august loechlt it looks down a lot now. it could go down another 15% before you get footing. >> all right. coming up, we'll get more on the tensions in the middle east with retired army general jack jacobs and the latest report on the port strukzikes and how the dru supply is getting shut down in the strike.

welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you.

that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. let's say you're deep in a show

or a game or the game. on a train, at home, at work. okay, maybe not at work. point is at xfinity. we're constantly engineering new ways to get the entertainment you love to you faster and easier than ever. that's what i do. is that love island? welcome back. for more on the situation in the middle east, let's bring in jack jacobs. he is an nbc news and msnbc military analyst. colonel, thanks a lot for joining us. we appreciate your time and patience with us. what is your assessment in terms of the situation in the middle east? and what do you think israel's response could be?

>> well, first of all, by the way, i've been promoted to colonel. but as long as they pay me as a colonel, it doesn't matter what you call me. in any case, i think, you know, i think we're going to see we're likely to see what we saw in april. at tack -- the attack by iran and counter strike by israel. but a muted one. really close to where iran is putting together nuclear weapons. and putting together plutonium. but made it a point of not hitting that facility. the same thing is likely to happen now to demonstrate that israel can do it if it wants to. but decides to diffuse the situation at the moment. iran had to do this. they felt, because of the --

israel's taking such a toll on hezbollah. the principal ally in the middle east. they took out not only the chain of command but also destroyed ammunition stores. command and control nodes and so on. iran felt that it had to -- it had to respond. and this is what we see. it's likely that it will dissipate. but the animosity, obviously, is not going to change very much. and israel will continue to clear the area north of the border between israel and lebanon. over the foreseeable future. israel has got about two divisions on the ground. it's very difficult to rain. but they have to clear the area north of the border. netanyahu is under significant pressure internally to make it safe for israelis to get back to

their homes near the border with lebanon. there is an enormous growth in the exchange. it is likely to dissipate than expand. we have about 40,000 troops in the region. to defend our own troops if either iran or the proxies decide to attack. >> colonel, the only thing that is different that i see is what you just touched on the fact that the lebanon aspect has entered into this conflict. is there any reason why israel is ratcheting it up? is i feel as if it they want -- they have the learning process from april. and they want to ratchet it up

purposely at this point. >> i think it has less to do with the election than the cascade of events that started a year ago. the collection of intelligence information that gave israel information about exactly where the chain of command was located, don't forget, the whole businessabout exploding walkie-talkies and pagers and so on, that was several years in the making. i mean, getting -- putting that all together took a great deal of effort. shell companies left and right and so on to disguise what was actually happening. that took a great deal of planning. i don't think it has anything to do with the election cycle at all. but it does have to do with the perception that hezbollah was perfectly capable of invading israel, certainly coming across

the border and causing as much damage, perhaps, or maybe more caused by hamas about a year ago. and they decided that now is the time to put an end to it before it had a chance to get even worse. >> colonel jab okz, we appreciate your time. apologies on getting your title wrong. i hope we got it right now. at least we promoted you instead of demoting you. >> you're welcome. thanks for having me on. >> see you next time. jack jacobs. all right. so in terms of the equity markets, we walked through the muted response. but in terms of the impact on the other asset classes, they were much longer lasting. do you think that persists? >> i think there are ingredients in this that are contributing. i look at oil. i look at the dollar. i look at rates. i can make arguments why the moves were made today are moves that arguably -- the dollar strengthened. i think it has been on a low ebb. the move in oil and gold is a function really of where we have

been more broadly in markets. i think markets will remain cautious. i think there is some other news this week. but i think ultimately, we'll move past this. >> coming up, how the court strike is impacting the weight loss drug space. the names caught up in the middle. next, you're watching "fast money" in times square. back right after this. tax smart investing today, helps to build a stronger tomorrow. at pgim custom harvest, our unique direct indexing approach seeks to help investors achieve better after-tax outcomes. pgim investments.

shaping tomorrow, today so, you know, han is 22 years old, and we've been together most of my life. not often do you have a childhood dog that, that lives this long so i think it's really unique and special that we've experienced so many, so many things in life together.

knowing that he's getting good nutrition and that he has energy is a huge relief for me and my dad. “such a good little bean.” we're so grateful to have had this time with him, so let's keep it going and make every day special.

health care back to "fast money." 50,000 ila long shoremen walking off the job today kicking off a massive port strike that will halt all trade coming into the united states. we have the st on the labor stoppage. frank? >> the economic impact of the east coast and gulf coast port strike is $4 billion a day according to an estimate from jeffries. there is a number of other systems out there. they peg it as over half a billion dollars a day. they say the impact to gdp of a one-week strike is 4.5 to $7.5 billion. the consensus is this is a net negative. the big question now, what will it take for the ila to support operators to write a new contract? earlier today, we spoke

exclusively with the ila president. >> i want to confirm, around 61% is what you're looking for? >> i didn't stutter. 61.5%. >> 61.5. thank you very much. you have a good day. >> you too. have a great day. >> the ila's number is 61.5% when it comes to a wage increase. u.s. mx out with a statement yesterday saying they offered a nearly 50% wage increase maintaining the same language when it comes to automation at the ports. the other big question is, how will the strike impact the fed's fight against inflation? the last read on pce, 2.2%. the headline number, very close to the fed's target of 2%. and according to many estimates for every one day of a strike, that's going to equal about a week of congestion and backlog at the east coast and gulf coast ports. if this strike were to last two weeks, the congestion would last into early 2025. melissa, back to you. >> frank, thank you. one industry potentially impacted by the port strike, weight loss drugs. they show that critical medical

devices and drug components for ozempic arrive in the u.s. through the affected ports. they're redirecting trade to airfreight which is what so many companies across the industries are doing at this point. redirecting, rejiggering, you know, moving things around to meet demand. you know, you mention the leverage that the port workers might have at this point in terms of saving christmas. what is interesting, you know, all the strikes relate to technology taking these jobs. automation taking the jobs. and you got to figure out at some point they're looking at we can get a 61.5%, which is so precisely outlined raise. >> that's an ask, not an offer. >> or we could potentially fairly lose our jobs potentially to automation which is happening already in many ports around the world. his fight is with another mags. they want to rage against it.

he doesn't seem like somebody that wants to be trifles with it at this point. he's going to push the envelope. it feels as though if you listen to the rhetoric, they want to push this thing. they want to brit economy to its knees. they very well might able to given what is going on. i don't think the market is taking this into consideration at all. >> president biden said he does not believe in taft hartley. so, if there is a hope that administration is going to step in and halt this, that's probably not going to happen at this point. >> i don't know. maybe behind the scenes they -- right? they're not going to come out and say, all right. we, you know, this is not a reagan air traffic controller situation. >> both sides ask them to not step in. >> but behind the scenes, you have to think this is -- they're getting a lot of pressure. >> yeah. >> yeah. i ultimately think the question is if you feel the economy is fragile enough that this goes

longer, what is the calculus on it? i agree with guy. no one is thinking about that. >> stocks dropping after iran's missile attack on israel. oil and gold prices rise. how our next guest is positioning. "fast money" back in two.

>> welcome back to "fast money." stock dropping to start q 4 at iran launched a missile attack on israel. the s&p 500 down 1%. nasdaq dropping 1.5%. let's get another check on shares of nike. rebounding off the lows of the session down by 6.25%. the company expects q-2 revenue to be down and gross margins down 150 basis points. the company says revenue expectations have moderated. there are some signs of second quarter improvement. slight indication of second quarter improvement. but despite the pullback, one top hedge fund manager thinks the s&p 500 is close to overbought levels. dan, great do have you with us.

geopolitical is not something you should focus when longer term investor. this could provide opportunities to buy in the market. what you are looking at if we do see a prolonged risk sort of trade? >> well, we have been writing for a bhil with the headline, don't fight the fed. teen day i sort of changed that to don't fight the fed and the pboc which is china central bank. because again those two factors, you're likely to have a pretty good move for the next 12 months because it's really been is driving this market really since 2021, right? they're cutting rates in '24, it's up more. and china the fly in the ointment globally, after four years of not willing to do any

kind of consumer stimulus, they finally kind of gave up and supported properties, banks, and the consumer. they're the second biggest economy in the world. those are the sectors when you think about it year end. you want to take advantage of dividend sectors. so utilities, consumer staples, telecom services. but then you can also be on risky end and biotech, benefit in rates going from 5% eventually to 3%. and things like commodities that benefit from china starting to stimulate finally. >> so what you are buying in china? and were you in before the stimulus was announced? are you even more in since the stimulus has been announced? >> yeah. no. i was stupid in that i was there for the trade. i gave up on the trade because it didn't look like china was

going to stimulate. the next day, they started to stimulate. we did have exposure through kpod adve commoditiese commodities which are generating. it's up 29% off the bottom. and, so, for right now, you know, it's up on obviously multiple expansion. like you've seen with nike today, right? it's up a lot. people are hopeful. then the numbers come out and stock is getting hit. china is shut down for a week for golden week. have o see how things look and come out of it. yeah, i want to get longer china as we go forward because if this is a fundamental shift in their way of thinking, we have seen what stimulus does in every other country on the planet. unless you think of global pandemic is great for the world, the s&p 500 shouldn't have been up 16% in 2020. so, you know what stimulus can already do and china refused to do it. now they changed their mind. >> the stimulus in china versus

the stimulus we saw in the u.s. are very different in terms of the mechanisms in which stimulus is done. there are some limited checks being handed out in china. there is still a population issue in china. structural issue. there is a housing overhang issue and reducing mortgage down payments and rates and things like that. so, do you see the uplift? do you forecast it to be as powerful as a lift higher elsewhere in the world on stimulus? >> absolutely for one reason. i mean, the reason we were bullish on china coming into the year was valuations were so incredibly low. and, so, you only needed something to go right and then for nine months, it just -- nothing went right and kept getting worse. the valuations is the missing piece of this. you're still much, much lower. you look at a lot of chinese tech stocks. there is even with the 30% move higher, there is trading at mid teens multiples. you have u.s. tech stocks that

are sitting at 30-something multiples. you still got a lot of revaluation you can do. and on a global basis, which is more interesting to me, you know, the chinese stock market is still fairly low relative to a lot of other regions around the planet. everything you brought up is very, very true. but that is also why it was where it was at. and we've seen this picture show before where 2014 to '15, you had this surge and obviously it went pretty far. and everybody's underweight china. even guys like me who are bullish coming into the year are sort of ended up going, well, you know what? i have this vuchliew. it's clearly not working and then it triggers. you have to take a look. this move away from stimulus checks to consumers are welfarism which is what they believed to now we're going to hand out direct checksto the consumer. that's a big ideological shift. i don't think you want to take that too lightly. obviously, the elections -- if

trump gets elected, you might get a pullback. you have another chance to get n so, that is something else to kind of consider in terms of not piling in right here. >> agree with the structure underweight and global managers more underweight china than at any time in their history and certainly compared to japan. i agree also the size of the stimulus may be more than people expect here. i bring it to how about the companies that kept getting knocked down every time we had a bad china headline? i do mean the ulta, estee lauder and the luxury segment. and then address that. i don't know if you're investing directly there, dan. but how about apple then? in terms of, again, does any of this play into the china weakness that is plagued so many stocks' perm foformance over th last six months? >> you have to separate out what was the problem with apple? was it china? or was it wawa coming back with

the smart phone? it's second. it's not the first. and stimulus checks to the poor is not going to run out and buy an iphone. so, i think you have to separate out some of this and, by the way, over a longer period of time, i think apple will do well. i do believe there is an uprate cycle on driven by ai. but in the near term, you have to look at the numbers coming out. it doesn't look like the initial uptake was good was the rollout of ai was staggered. for me, i'm more looking at industrials, commodities, things that are related to the property market which is absolutely imploded in china. those sectors that people have given up on are dead and not necessarily, you know, an apple. but things that are in the copper sector, aluminum sector, steel sector in the u.s. that will benefit if the property market in china finally starts to show stabilization. >> dan, always great to get your take. thank you. >> thank you. >> dan niles. >> where do you want to go?

>> he's long facebook and the other names. facebook made an all time high today. pulled back a little bit. they report on the 24th? karen probably knows better than i do. i think you continue to own it. the others have down side. he'll stay long. this i think that makes sense. >> i'll go -- i'll choose my venture, i go with apple. and if you try to go into a store, you can't find the pro or pro max. it makes total sense that if the ai is not rolling out for another six months, people are going to delay the purchase of it. i still stick to people look for an upgraded camera. i think after maybe going into the holidays, people are going to bite the bullet. you have an install base 2.2 billion. it's hard to fail y'rifoue apple. >> coming up, impact on commodities after today's mideast missile attack and where they could be heading next. "fast money" is back in two.

♪ (alarm sound) ♪ amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake.

the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. oil is above $$70 a barrel.

even if you take out the middle east, gold is an amazing story. >> and it is equally important in terms of the gold story. tim has as well, in terms of why you want to stay long this and each selloff is shorter in duration and quite frankly, more shallow in terms of the levels that it gets down. to i think you still win. gold miners are starting to catch up. and i do think energy is going to surprise people on the upside. exxon at $119 is within a whisper of an all-time high which is not a big deal at the market all-time high. it's a big deal for energy stocks. >> not only is gold having a great run here, 34% since february, i think since valentine's day, gold miners up 46%. outperforming. when you think about the impact on commodities this is something actually dan niles is referencing, i think the commodities story is as important. commodities going into all this trading like recession. look at copper. look at the roller coaster ride that is copper. you think about the cash flow

generation at theseplaces, i think that trade is one you want to stand. >> one that hasn't worked is digital gold which is crypto, right? bitcoin really hasn't worked recently. you'd think that part of the whole underlying theory of bitcoin should be working. in fact, it is a lot closer to a risk on trade, doing better when risk on, you know, a mag seven related trade. >> you have a bunch of firms and funds that are selling and putting a weight on bitcoin. there is huge regulatory headwinds. we don't know if is it enf enforcement. but if you go back five years, gold is up 57%. if you go back on bitcoin, it's up 520%. so, if you could hang on, this one is going to give you the outsized gains. you have to take the outsized losses though along the way. >> coming up, a couple of fast

morsve catching our eye hin the high line today. reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about.

craig here pays too much for verizon wireless. ameriprise financial. so he sublet half his real estate office to a pet shop. there's a smarter way to save. comcast business mobile. you could save up to an incredible 70% on your wireless bill. so you don't have to compromise. powering smarter savings. powering possibilities. switch to comcast busines internet and mobie and find out how to get te latest 5g phone on s with a qualifying trade-i. don't wait! call, click or visit an xfinity store today. welcome back.

we have fast movers from diamond rings to french fries. let's start off with signet, the jewelry maker plunges under the news that the ceo is stepping down. you're surprised by the move. obviously, investors not happy with the move. >> not happy. in terms of who does a good succession planning and announcing it to the street and getting the street ready. not signet. they could have done a better job. i like jenna. i'm very unhappy to see her leave. a little surprised at the choice. >> pet jewelry >> yeah. the ceo? i don't know. i actually -- maybe i'll get a lot of at for. this i think for the largest jewelry retailer, there should be a woman at the helm. if you think of who is -- who is this for? right? >> right. >> and, so, i think she did an extraordinary job. i don't like the succession planning. you do it like morgan stanley like they did with gorm anan, t

did it in a couple years in advance and stepped back and seamless. this is sad for it. i had to sell stock. >> tim, show them your belly ring. >> it is odd the timing. she is leaving november 4th. the fourth quarterer is a huge season, right? and i'd like to have seen it through. >> we'll move on. if tim said what you said about she should be a woman, he would get atted. >> auto parts store has to be a dude because, you know -- >> is there an auto parts store with a woman ceo? probably not. >> don't misthe interview with gina drosos right after "fast." and boeing, got to get to. this dropping this morning. ending the day well in the green. the company is considering a $10 billion share of sale as it looks to shore up capital in the wake of the on going labor strike. three weeks in. with all of the defense stocks, i the got a lift higher.

what do you make of being diluted? >> i'm a little surprised, actually. i think some of the rhetoric around what they might need to do with the balance sheet, where they might need to be reeling stuff in, i think some is negotiation. . something dilutive is not what we expected from boeing. >> let's get to an earnings alert on lamm. the shares are down 4.5%. lamb weston, the company reaffirmed the sales guidance for the fiscal year, they did lower the outlook for net income to below what was forecast. you know, we were talking about this in the break. down 4.5% is a win for lamb weston. considering it was down 28% in the last quarter this is strike three in terms of guidance being marked down in terms of the stock dropping. guy? what do you think? >> i'm looking at levels. you go back -- you have to go back three or four years, $50 is level. then we traded down close to the levels. but to your point this is probably a win except that, you

noi, th know, they're not winning at anything right now. the path of least resistance is lower. they save valuation. the they can make a justified argument. >> what is your favorite potato? >> the tater tot. >> the tot. >> the tot. >> that's not surprise. >> can you say russet? >> i am going with scalloped potato. >> we have to get out of here. i make killer baked potatoes.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

time for the final trade. tim? >> notice the mets tie here. we're playing baseball right now. go mets. ten cent with china. >> karen? >> all right. in the sporting theme, game two, liberty.

semifinals. can't wait to be there. and gap stores. they have momentum. we won't see for a little bit. we'll see earnings in november. >> steve? >> i think night swift transportation has more steam left behind it. >> tater tot. >> let's go mets? i mean, there was no enthusiasm there. my mission is simple. to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now. hello, i am grammar, welcome to "mad money". welcome to cramerica. i am trying to make you a little money, my job is not just to entertain but to put into context, call