now he's had a lot of time to make pretty specific plans and you wonder how tiktok factors into that given, you know, the saber rattling toward china. retail sales tomorrow morning and the best day since best day since after the election. >> "fast money" starts 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 big bang bank boom. the major financials getting earnings season off to a strong start. is it just the start of an even bigger rally to come? plus, a rate cut revival. treasury s sinking. did the cpi print put a fed move back on the table or is the action premature? and later, lackluster lilly. private equity diving into college sports. and two more acronym reveals.

one is totally tubular and the other doesn't quite play by the rules. but we'll allow it this time. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, guy adami, and our very special guest trader tonight, joe moglia, a friend to the show for all 18 years of our existence. joe, welcome. >> thank you, melissa. >> welcome. >> great to have you here. >> honored to be on, guys, thank you. >> we start off with today's massive rally on wall street. the dow gaining more than 700 points, for its highest close of the year. the nasdaq up 2.5% on a cool inflation print. the major indices all seeing their best day since the election. we'll get to the cpi in a bit. a barrage of big bank eets. will these reports confirm what we heard this morning, karen? very optimistic. >> yeah, i think so, i mean, this was really, really a

good -- on so many fronts, and for all the banks, i think a lot of things went right. net interest income very good. some of the capital markets business really good. for some investment banking, better than for others, but i think that the consumer is in good shape, and, you know, i think the animal spirits already, we'll see mergers, that's great for investment banking. there was a lot to like for both citi bank and jpmorgan. i, of course, listen to the jpmorgan call first, but you know, i like the idea of jamie, it sounded like saying a few more years, maybe. but i think things are going on just about all cylinders. it was really an excellent report across the board. and i think the read-through for the economy is really good, as well. not just the banks, but more broadly. >> yeah, the cfo of jpmorgan used the phrase animal spirits, we are in animal spirits mode right now. goldman sachs ceo said something to the effect, there's been a

meaningful shift in ceo confidence since the election. so, we're setting up, tim, for what may be a very good ainge for for the banks. >> it is. i think market action was about the cpi, i do think the bank messaging was fantastic. when you think about jpmorgan and citi bank and old versus new, you know, jpmorgan has really kind of kept pace with innovation. the big issue all along, citi bank, they were not. there were so many inefficient investments. what we heard today is that actually the long-term capital prognosis for this bank is fantastic, $20 billion, essentially repurchase and the dynamics around the cost efficiency that will get better in '26 from what we hear means i think there's a lot more to go at citi bank. and i know this means nothing. if you drew a chart back on citi bank, because of the dilution

there, it's back to '09 levels, but that's tomorrow's money. and i really think citi bank is an incredible story that has an ability to outperform, but banks did send a great message. >> you sit in the ceo seat, joe, so, how would you feel? >> well, one of the things you need to pay a little bit of attention to, 793 days or something like that with an inverted curve, karen's already referenced the significant growth that we've seen in the net interest margin. with a positive yield curve, that's only going to enhance the earnings as far as the banks go. i would not be more bullish on the financial sector at all. >> first of all -- >> yes. >> as you said at the top of the show, this is a man that's been a friend of this show since the -- >> day one. >> was steadfast. >> which isn't easy to do. >> not easy to do. >> given who is on the show. >> fordham university, by the way, one of the great jesuit

institutions in the . they named their football field what? >> moglia field. >> amidst of grateness.eatness. what was the question? just kidding. as long as i am all the time, citi's one we've gotten right. we pointed out, today for example, they said tangible book is basically 97 bucks and we've made the point that, listen, i get jpmorgan at 2 1/2 times tangible book, maybe it's deserved, but citi bank at 80% of it doesn't make a lot of sense. i thought citi could trade up to 80. here we are. but now they've raised the bar, i'm with tim, i think it can go higher. >> the messaging from banks that we're all talking about is nco and expenses are going to stay the same. all profitability is going straight to the bottom line. this is a story where the banks have been underestimated. this is a case where you're going to see upgrades based on eps, or on multiple, or whatever

multiple of tangible book you want to put on it. so, we've been slowly going through this for four years with banks. it was disrupted by svb in may of '23, but it's a case where people have a lot more confidence in the capital base, the steward ship of the big institutions, and look, as joe said, i mean, it's a time for businesses to be reinvesting, it's a time for business -- jpmorgan, 90 billion alone in net interest income. >> do you look at the banks and think want the bank with a turnaround aspect to it? citi, the commentary today was, this is a waypoint, not a destination, so, we're going to improve, improve, improve. and then there's wells fargo, which had a nice little pop before. >> yeah, i mean, i love the quality of jpmorgan, but as guy referenced, the price to book is the highest, and as it should be, but so you i do like a citi. that's well just by its own

appreciation getting to be. also for wells. but the idea that their capital requirements could go down -- >> yeah. >> right. so, what that does for loan growth and that margin and just the higher nim and the more loans under the nim, a lot of good things can happen. >> yeah. >> go ahead. >> i think in terms -- you mentioned, a big piece of this is leadership. and, you know, tim mentioned the silicon valley bank thing. remember the chaos and the horrible disaster we had with that? well, the job at every bank is to protect their clients' deposits and assets. the government was supposed to come in and make all these changes. four years ago, there hasn't been one change since then. i would bet more on, because everybody is going to do well in the financials going forward, i would do a better -- i would focus more on the companies that have been consistent and well-run and have better management teams. i think over the long haul, you get paid back pretty well for that. >> we went seven minutes and we

should bring up goldman sachs, i thought that was a remarkable quarter. that's another name i think we've done a decent job. we're within sort of a whisper of its all-time high. deservedly so. we talk about jamie dimon all the time for a myriad of different reasons -- >> i only talk about him for one reason. >> i'm not trying to curry favor here, i'm not looking for a job, but under his leadership, they've made a lot of right choices. let's turn to the other report fueling today's gains. december's cpi rising 2.9% in line with estimates. x food and energy, consumer prices rose 3.2%, down from november. the market breathing a sigh of relief here. the ten-year treasury yield pulling back. the dollar easing back from its red-hot run. bitcoin briefly topping 100,000 mark again, as investors get their risk on mojo back on. is this going to last, tim? what does this tell you about what the fed's next move is? >> well, i think the fed should still be on hold.

it's a little bit of what i think and what i think is going to happen. one cpi number doesn't do it. and 3.2 on the core is, while it's the best downtick we've had in six months, it's not where they want to be. if you look at the components of cpi, the breadth of inflation is going higher, it's broading. and it's -- it's a big issue. this is one data point in a series of ones that haven't helped. the bottom line is, the market was so scared for this report. the positioning going into this, we were overinflated. and we were so worried about where things are going, this reaction doesn't surprise me. doesn't mean inflation outlook has to change that much. >> i agree completely. it's nice. you know, tenth basis point is nice, but we're higher than where we need to be. and the animal spirits we just talked about does not to me read as lower inflation. >> right. >> in fact, it reads higher inflation, so nice to get that bounce-back after that big friday move, but i agree with you completely. i really don't think the fed should do anything. >> do you guys think that is actually going to be a shift --

we've been talking about the fed now for, i don't know, last couple years, and that we know that this year, we might get one, we might get two, we might get zero. we know that. but are we now at the point, i think, where the investment community's got to start to look at the economy itself as opposed to just whether or not the fed's going to ease or not ease or pause or increase rates? focus on the economy, focus on the fundamentals behind the individual sectors and the individual companies. i think that's a shift that i'm starting to see with regard to the marketplace, as far as valuation goes. >> i think that's fair. you said it on the call earlier today, and i've said it, i'm not a fan of the federal reserve, but i think jerome powell, on the margins, has done a really good job signaling what they're going to do. he's made some mistakes, as well, but here we are at the market at e ffectively all-time highs. you sort of look under the -- empire state manufacturing came out today. it was down, like, 12% or somewhere either side of 12%. street was looking for basically flat to slightly higher.

there's some things under the surface that should be concerning. and i'll say again, you know, people talk about the strength of the consumer -- yeah, they spend money. consumer, though, if you look at it, the balance sheets are on the wrong end of things. >> i just -- i think the economy and the strength is really exciting. i think there are a lot of pieces of the economy that got used to being funded at zero. and this higher for longer dynamic, i don't think rates need to go down a lot. in, we're all saying they're kind of normalizing. you get to a place where there will be credit issues out there, but in the meantime, i think the message is that the economy's in better shape. i think, speaking of that empire manufacturing, i think, you know, pmi, manufacturing ism, and those dynamics, they've been in a bear market for 2after 1/ years. i think we've seen some bottoming in manufacturing. i don't think it's critical either way. i think you could see a surprise in some of the industrials, which look interesting.

>> the point about, there will be credit issues, yes, but to joe's point, it may not matter at this point how much the fed does, we know it's going to be sort of just incremental to where we are right now. and what have rates done in, you know, despite what the fed has done since september? >> right. the fed can only have power over the short end. to your point, the economy's growing -- >> doesn't matter. >> term premium. that's what we're going to see. the fed has no control of whatever the ten-year is going to do. >> in regard to powell, your point, guy, about, he's made mistakes, of course he's made mistakes, but he does say what he's thinking. even when he made mistake, he said, you know, this is going to happen, it's transitioning, it's all those things. but at the end of the day, he's telling you what he's really thinking he's going to do, and then unless he gets a whole series of different data to change his perspective, that's what he's delivered on. the market's been wrong the last two, three years.

>> they were finishing hiking but they didn't cut all last year, and the market did fine. >> right. that's the point there. >> is that because they anticipated cutting? >> some what, but yet, still, a lot of businesses were doing fine. >> yeah. >> well, joe has been very bullish on the market since the election. just days away, we are awaiting the inauguration of president-elect trump. he will re-enter the oval office. a lot of the bank ceos were talking about the change in sentiment, the change in confidence, the animal spirits, because of this new administration. you think that this will carry over across the markets, not just in the banking sector. >> i think it's the entire market. so, you've got a president now who number one, he likes the market, going to try to take care of them. number two, he's a business guy. number three, everybody he's appointing, almost every, with regard to the decision-making there, are people that have business or investment backgrounds, and they bring a pra pragmatism that a typical politician doesn't bring. he's not fooling around when he

talks about deregulation. deregulation, we kind of know what that means, but what it really means for individuals, you've got more people having more time to be able to spend more energy and stuff that matters, and the -- don't underestimate the massive, massive compliance budget, because of all the regulations, at every one of these firms. that has a chance to be reallocated into different areas where you may have greater growth. m&a is going to explode. i don't think there's any question about that. and at the end of the day, we're finally getting real clarity with regard to crypto. he wants to be the crypto president. he wants the united states to be the crypto country of the world. the people he's appointing, most of them are invested in the crypto world. every one of the obstacles that have existed over the last decade, they're gone. they're gone. so, when you think about that, in terms of going forward, we would all say, you should never fight the fed. i think we got to say, you should never fight washington.

and if i were still ceo, i would love this on operating environment, and as an investor, i don't think i've ever been more bullish. you have to own technology, crypto, and financials. >> hard to disagree with those things. i will say, this is just me, i think scott bessent, he's the most inspired nomination. i think he's the right choice for that job. but my concern around this has been -- and would have been the same if the other side had won this election, policies are going to be inflationary. almost by definition. and i don't think this economy is set up for higher interest rates on the back of that. so, that's a concern, and we have a lot of treasury auctions coming this year, so, today was a day where yields went lower, i get it. we're one bad action of being back to 4.8. >> is that a concern? >> i think there isn't any question there's going to be volatility in terms of going forward, and tariffs. the tariffs can be used strategically, or they can be blustery and wind up turning out

to be a major problem for the economy. but i think -- i think, with the people around him, as they start going down a bad path, i think they figure that out. >> all right. let's hope so for the sake of our country. joe will be with us for the entire hour. coming up, a lilly lull. the pharma giant unable to really bounce back after yesterday's big drop. why investors weren't buying it, and if those losses will continue. first, the latest out of california, as first responders continue to battle the wildfires and dangerous winds. an update on containment and the massive economicin surers start to process claims. this is "fast money" with melissa lee, right here on cnbc. . get those steps in, kevin your coworkers keeping things confidential. oh, she's spilling all the tea. or office etiquette.

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by investing in the s&p 500 with spy. arissa's hair salon wants to expand their space, and steve's t-shirt shop wants to bring on more help. with the comcast business 5-year price lock guarantee, they can think more about possibilities for their business and not the cost of their internet. it's five years of gig-speeds and advanced security. all from the company with 99.9% network reliability. get the 5-year price lock guarantee, now back for a limited time. powering five years of savings. powering possibilities™. welcome back to "fast money." president-elect donald trump is considering an executive order that would halt the nationwide ban of tiktok set to take effect next week. this according to a "washington post" report. the beneficiaries of a ban may not be, in fact, any of these social media publicly traded companies here. >> yeah, it was just -- last week or even -- we were talking

about the benefit, careful, there's some confetti. don't get hurt. >> wow. >> and, you have this dynamic that if anything, snap is benefits. snap's issues are snap's alone, by the way. you shouldn't be buying this on a tiktok ban or not. you should be buying it on where they sit in the ad funnel and where they get most of their revenue. i actually -- and i think snap is kind of interesting. these headlines are going to move stuff around. not a reason to do anything. >> certainly not a reason to buy or sell here. >> no, i mean, meta is down, you know, 1.5% in the aftermarket. i don't know if -- let's say you had a one-third shot, so, ten-point move on a one-third, okay, that really happens, that would be down another 20 bucks, if it does, still, i agree. i'm not trading around the tiktok ban. insurance companies starting to process claims from losses tied to the california wildfires. cnbc's contessa brewer has the latest. >> and we've been seeing

firefighters carry fire retardant up over the mountains. state farm has just erected this customer care center, staffed by specially trained representatives from all over the country. the insurance giant says this is, in fact, the largest fire, the costliest in terms of claims, that it's ever responded to, in california. at last report, the company's received more than 7,400 home and car claims. now, insurers can use aerial imagery and other technology to process the claims, even before the adjusters are permitted back into neighborhoods. and state farm says it's begun cutting these initial checks, but in california, state farm has the largest share of homeowners insurance policies, 8 million, across the state. 250,000 property policies in l.a. county, and 88,000 auto policies. last year, though, it joined its publicly traded competitors in significantly lowering its exposure to the riskiest regions

in the state, not renewing policies or not accepting new policies. it says that the state just wasn't allows rates that reflected the true cost of the risk. today, they say, though, their focus is completely on the clients they have. the company spokesperson told me they're on a mission to reassure these customers they will get paid what they're owed. and we just learned that state farm yanked its super bowl ad for february, it says it needs to focus on its customers, so, those are the updates here from the state's largest insurer, melissa. >> contessa, thank you. contessa brewer. there's going to be a need -- in the last hour, she was talking about, there's not going to be a big developer, a toll brothers, to go in and rebuild. these are individuals rebuilding their homes, hiring contractors. and if there are tariffs imposed on canada and mexico, materials are going to be much more expensive. >> higher. >> sky high. >> yeah. that will affect everything in terms of the ability to rebuild.

>> we know there are people out there in hollywood, l.a., et cetera, that have enough money that can do that, but the typical person in our population doesn't have enough money to be able to do that. so, for them to be able to replace their home in the area they want to be able to live, they may have to relocate and build in some place different altogether. you know what i find really sad? we used to prepare for the 100-year flood. now, every year, there are four, five major, national crises. what's the reason for that, global warming, i don't know, but these things are very, very -- take a very serious toll on, you know, the individual family. >> yeah. >> there might be people watching in north carolina that had a similar disaster that seemingly everybody's forgotten about, and they're still struggling, so, to joe's point, and it's going to really pain me to say this, but we're tasked to trying to figure out what goes up and what comes down. insurers topped out in late november.

you look at these names and, you know, you're not buying them for these reasons, but just on a valuation alone, and their ability to continue to earn, i mean, these become very interesting after these selloffs. >> for us to try to translate bad news, good news, whatever it is into what does that mean for the market, home depot and lowe's, you could see a big bump there, restoration hardware, i mean -- it's going to take awhile. >> yeah. >> but i mean, there's going to be a lot of rebuilding. there's a lot more "fast money" to come. here's what's coming up next. no rebound love for lilly. investors pass on scooping up the beaten down pharma giant after yesterday's route. the guidance that's keeping them on the sidelines, and whether that stock can see a pharma flip. plus, more on today's major market moves. how the inflation data will impact the fed and what their next move on rates will be. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this.

welcome back to "fast money." eli lilly marginally higher today, but unable to recover from yesterday's losses, now down nearly 7% on the week. the company's updated financial

outlook disappointing investors, with projected sales of mounjaro and zepbound falling short of expectations. the stock more than 20% off the all-time highs hit just in august. i thought it was really telling that there was very little bounce for this stock. we had jared holz on yesterday, he said he thought it was a buy here, if you're a long-term investor, but nobody's a taker yet. >> it's not just about valuation. what we're learning through bits and pieces is that the competitive landscape is changing, whether it's an oral, or the dynamics that there are players that are not in the top two, for example, but even look at just the volatility even in novo, when, in fact, again, phase two trial for them wasn't exactly -- the numbers were great, but it wasn't exactly -- the bar is not only so high, but i think investors recognize that this isn't a two-horse race. >> yeah. in the fireside chat, the ceo was going to give a fireside chat when we were on the air. he talked, an interesting way he talked about it, we don't want to do a lot of discounting,

coupons and things like that. we want to make sure we have the drug for our customers. this is a long-term relationship that we are building. we want to develop customer loyalty. sort of an acknowledgement that there's the ability to switch amongst players, if there's another product out there that is delivering the results, and is accessionable. >> yeah, i think that was -- in my opinion, that was in response to what i think was the disastrous call a quarter or so ago. so, good for him. but to your earlier point, the fact that on today's tape, the stock was up a dollar, given the selloff we've seen, is disappointing. i'll say what we said last night. the 735 level has been support for a long time. it's got to hold right here if you want to trade against it. >> i sort of really like it when a ceo says, you know what, we could have done a better job. to me, that adds creditability. i'm long here, i'm staying long. >> are you in pharma, joe? kind of a tough space lately. >> i was in pharma and i own lilly. sold it about a year ago, looking for a spot to get back

in, but you mentioned ricks, the other day, kramer interviewed him, he did a nice job talking about, very, very simple and direct, talked about the compounding impact, 60% plus is going to be able to have over the next few years and other things that are in the pipeline. i think it's something you have to look at. i feel that way about a ceo, too. you can't just say, you know, here are some of our problems, you have to have solutions when you present them. >> looking to get in at this point? >> i don't know. starting to look at it now. >> all right. by the way, we want to give you an update on the big "fast money" live event coming february 27th. well, thanks to overwhelming response from our loyal fans, we sold out in record time. all the tickets are gone. >> come on. >> in less than 48 hours. but if you missed out, don't worry, you can join the waiting list. >> what are scalpers are doing? >> why do you say things like that? we're not involved in the secondary market. >> $12,500 a ticket. >> that's right, joe. >> thanks for bidding, joe. >> do not worry, we might have

future events as well. so, head on over, cnbcevents.com/fastmoney and we'll see where it goes. going to be fun. >> i'm encouraging everybody that comes that night and there will be a lot of people -- >> to do what? >> well, mel's shy, you know this. but she really likes to people come up and hug her. just -- >> yeah. >> don't be scared of her shyness. >> yeah. >> embrace it. >> i know all of you out there know me well enough to know that that is just patently false. >> not shy? or -- >> i'm walking around with a bottle of purell. but i will be happy to see everyone. >> to share it. >> yes. all right, so, again, qr code, join the wait list. coming up, the latest cpi report giving markets a major boost. the stock surge across the board, so, what does the data mean for the fed's next rate move? we'll lay out what to expect, and how today's inflation print plays into the central bank's policy this year.

don't go anywhere. "fast money" is back in two. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this.

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welcome back to "fast money." stocks surging for their best day in more than two months, as investors digested the latest read on inflation. the dow rallying more than 700 points, the s&p up 1.8%, and the nasdaq up nearly 2.5%. crude settling with a more than 3% gain today. wti at its highest level since mid august. bitcoin also surging today. briefly trading above $100,000. alt coins as jumping. and shares of ftai aviation dropping 25% after muddy waters announced a short position on the the firm saying the company exaggerated the size of its aftermarket business and engaged in channel stuffing. wow. the ten-year yield plunging by 13 basis points, but another near-term run toward 5% can't be ruled out.

great to have you with us. >> thank you. >> there are a lot of things in the pipe that could be inflationary and it's not just policies. it's what's happening in california, too, right? >> yeah. because you look at the core pce, and a lot of that has to do with insurance costs. car insurance, home insurance, so, when insurance costs, when you have a catastrophe of this magnitude, you're going to see insurance costs all over the country go higher. so, that's something i'll be watching in the prints, both cpi, as well as core pce, in the coming months, but you know, this is -- this is a disaster of a very large magnitude, but you know, the u.s. economy is still relatively large. you're looking at, you know, the impact in aggregate to the u.s. economy might actually somewhat muted over the long run. we might see a runup in the unemployment rate for the next couple of months, perhaps you could see some, you know, some very specific sectors of inflation basket go up, maybe

lumber, construction costs, things like that, might feed through to cpi, but for the most part, i think it's going to be something that's more temporary. >> thank you for joining us. what do 5% ten-year yields mean to the equity market? >> i think that a gradual increase in interest rates towards 5% is going to be okay. but if you start getting towards that 5% level, equity risk premiums start to get, you know, unattractive. so, investors are going to start looking at moving away from equities, risky assets, whether it be corporate bonds. and then starting to move their money towards more safer assets, where you're getting a pretty good return of 5%. the question is that you're not looking for perhaps ten-year yields to go from 5% to 4% and getting that capital gain. but you could be there because the coupon or the returns look attractive. the rally in the bond market might ultimately turn out to be

somewhat limited. >> how about, though, the implications of higher rates around the world? in the past, while our fed may not be hawkish here, higher u.s. rates have been a disaster for certainly emerging economies, but you look at what's going on japan, their bond market isn't necessarily getting, you know -- we'll see how japan trades tonight, but ultimately, jgb yields are something i think are pulling up u.s. rates. any thoughts on that? >> yeah. i think they're going to be hiking rates. the bank of japan skipped the summer meets, but they're poised to hike again. perhaps more than once this year. and the demand for -- from japanese treasuries, or foreign accounts in general for treasuries, has been low, because domestic yields are quite attractive. custody holdings of treasuries from foreign central banks has been going down. and that's led to less demand for treasuries. so, we've seen this buildup in

term premium coming from less demand, as well. we're watching that, as well. you have more supply and less demand. so, that's a recipe for a push towards 5%. >> as you look at rates going up and down here, going up and down across the entire world, that's got to have a pretty significant impact on the dollar. what kind of impact, then, is that going to have on our economy and therefore the markets? >> yeah, the dollar has been strengthening quite dramatically. if you chart the ten-year yield and the dollar, you see that strong correlation as the dollar has strengthened, after the elections, you're seeing that that's been something that's been correlated with the rise in ten-year yields. the impact of the stronger dollar is going to be something that's felt not just in the u.s., but also in emerging countries. latin america is going to feel the pressure of higher -- the strengthening of the dollar. and we'll have to see what the impact of tariffs is going to be. the last go round, the u.s., you know, consumers really didn't

feel tariffs feeding through, because you had that offset from the stronger dollar. so, that could very well, again, play out, but then the dollar is already very strong. then you have to ask yourself, how much more could it strengthen from here on? >> great to have you with us. thank you for stopping by. >> thank you. >> how do you think about the dollar, at least, in terms of earnings, it's oftentimes a look-through, but at this point, investors may not be able to look through -- >> that's true, we'll see. i don't know if it's front run all the tariffs, and if we get something a little more mod rat, maybe actually it might backtrack, i don't know. >> tim? >> well, i -- i think the dollar at times, when we have these extreme moves, can be seen as a source of 28% of the s&p is global. part of the conversation, u.s. dollar is buying power. it's about as good as it's been in a long time.

so, i think the dollar is -- tends to be at extreme levels, part of a story that's about some kind of a flight to quality, a mismatch between central bank policy, and i think that's probably what's going on right now. >> i think the impact, when you talk about regard to tariffs is really a big deal. and trump is pretty good with hyperbole and he could be using the tariffs as a negotiating tool a little bit later on. which is going to be a problem. however, if he's just really thoughtful and use the tariffs strategically, i think that could be a boon to what we've got going on in terms of consistency across the board. but right now, that's still a bit of a question mark. >> real quick, what's been interesting, gold's worked, with the dollar going higher, rates going higher, the dollar going lower, it's worked about every environment. so, i think you continue to watch gold. i think the next move is significantly higher. coming up, acronym reveal week continues. two more 2025 from the trade

desk. and later, the college football championship game is just around the corner. we've got the trader -- one trader tonight who is very familiar with the ncaa, joe will weigh in on the changing weigh in on the changing landscape of college sports. eing rich is knowing what counts.

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welcome back to "fast money." all week long, our traders are revealing their 2025 acronyms and top trades to watch. first up, guy adami, your calm turned into clam. it finished fifth last year. >> good gold. >> so -- >> i loved your clam. >> wow. >> enjoyed your clam last year. >> for the entire year. >> beloved clam. >> late in the year, the clam sort of -- it soured. >> yeah. >> lockheed martin was sort of the culprit there, i mean, i didn't see that one coming. that -- that really just -- >> i have a new one. >> i'm going from last year's clam, -- tube. tim? >> yeah, i heard you. >> why, guy? >> well, you know, i've always wanted to sort of get toyota in here, but historically, every

time this game begins, it's at an all-time high. not this year, sister. >> going to slam it in there. >> this stock's had a selloff. i think you're catching it at the right time. ber, the stock went down to 60, you've seen a couple of analysts make it their best selection for 2025. i think you are catching uber at the right time. i'm stealing one from the tim seymour play book in the form of alibaba, here at 82 bucks or whatever it is. this stock is 40% too cheap. i'm not saying it goes there this year, but going to be significance bounces in baba. and the last one, eqt, throw a little energy your way. >> why not? >> that's the e in my tube. >> just to get an e at the end of your tube. >> otherwise it might be tub. >> that wouldn't be any fun. so, eqt, which is off to a rip roaring start already this year. >> why is tube so fun, guy? versus another letter at the end? >> well, i think you want -- for me, it's a four-letter acronym. anything more than that is

excessive. and i just think, you know, you want to -- the tube to do well, in any circumstance, especially -- >> i like how your tube size is up. >> by the way, a great song by zz top, maybe we should play that. >> it's a boogie of sorts. >> yeah, love zz top. >> back to you, mel. >> you know about zz top. >> they all had beards except for one. >> yes. >> whose name was? >> beard. >> unbelievable. >> how good is that? melissa lee. zz top trivia on "fast money," it doesn't get better than that. >> i hope it does. karen is next up, the helm acronym ended last year in fourth place. health care, energy, lvmh and meta, the social stock was your big star, 66%. which stocks are you loading up on now? since you don't play by the rules -- >> no, i don't. >> we know they're not going to stand for tickers. >> that is very -- >> a couple of them will, just to throw your off. >> really bizarre and selective.

>> so, this year, mine is carbed. >> not a word. >> to move quickly, citi bank, we've already covered that today. trades at a discount to book. we're in a nice situation for bank. alibaba, like you, like tim. >> wow. >> she's using the a there instead of the b. that is fantastic. >> to me, that's not even -- that's totally -- >> i don't think that's ever been done before. >> the third one, the r, obviously, is for united rentals. >> what? come on! come on! >> you can complain all you want. blah blah, that's what it's for. united rentals. >> you hear what she did? blah blah blah. basically charlie brown's teacher. >> i love the secular move out of companies owning their own fleet and renting and they've done a great job onshoring. we've seen them do yesterday a great acquisition. which is what they do. they believe cash flow. b is boeing. i like when something's really

down and out. this is really down and out and i think the -- the -- >> by the way, update, two of her letters are playing by the rules, two are not. keep going. >> keep going, just wait, there's more. boeing, i do think, you know, as tim likes to say, you make the most money when things go from terrible to just bad. i think we are in the just bad part. you don't need it to go all the way back to where it was to make a lot of money here. the e, obviously, stands for oih, which is an energy play. that's because you gave me so much crap last year for using the x in xle as energy in helm. >> just flaunting her disrespect. >> bending the rules. >> scott bessent, i agree, a good pick. three three three rule, 3 million barrels a day, what will that do for the oil field services, nice there. and d is for dell. cheaper way to play the a.i., it's been a little -- yes, d for dell. i was going to do r for dell.

>> 3 of the 6 are actually -- >> 50%. dispensation. i mean, if tim tried to pull that off, he'd be -- >> thank you. thank you. >> i understand, though, beginning of next year, if karen's acronym wins, there might be an appeal. >> i'm filing it now. i'm filing it now, i mean, after we get off the show, i'm going to sandy, i mean -- and -- because i also feel like the e in carbed, is oih -- >> i don't change. i didn't add blicep. >> i'm very sorry i added the l in blicep, by the way. >> that's just like, how can i get united rentals in. just make it an r. >> rental. r for rentals. >> by the way, your b in carbed is my b in band. i'm pulling for you, actually. coming up, we're counting down to kickoff for the big college football championship

game on monday, notre dame taking on the buck years. why private equity is getting skin in the game. that is next. more "fast money" in two.

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welcome back to "fast money." the college football playoff national championship game between re dame and ohio state is coming this monday. a new player is joining the game. private equity. one of the biggest investors putting money into sports. here's what he had to say on "squawk box" this week. >> the universities need the capital, because through the capital, more people are going to come to the games. and as more people going to the games, more people going to the university. so, they understand that, it's either alumni are going to give you that money, or it's going to be people like us. >> our guest trader joe moglia is still heavily involved in college athletic. so, do you think these pe investors, they're going to be a driving force here? they're here to stay? >> they're here to stay. there's going to be more and more critical as time goes on. the issue with the ncaa, power four football and basketball have to breakaway from the ncaa,

become the pcaa. professional collegiate athletic association. if the nfl ran themselves the way college athletics was running themselves today, the nfl would go out of business. they have to breakaway, have real contracts, real transparency, collective bargaining, salary caps. all the things you need to run an effective business. having said that then, you could do a better job evaluating what's going on. are we going to have private equity or individual investors own the football program at ohio state? those things are all very real possibilities, because right now, what we have is total chaos. >> does that explain, if you look at belichick at north carolina, part of him coming in there, he's bringing in that infrastructure, that gm, so to speak, that college needs. could this be happening inside of each program as opposed to breaking away at its own league? >> typical head coach and athletic director, most of them, they don't have the skill sets to run it like a business, so, when belichick first took that job, a lot of people said, he's

not going to be -- it's over, it's over. so, he's -- it's a professional operation. >> yeah. >> the first hire was lombardi, who came in as a general manager. so, college athletics -- college football, does not need to adjust to belichick. i'm sorry, belichick doesn't need to adjust to college football. college football has to adjust to belichick. what he's doing and the way he's doing it is very much the way of the future. >> for more on this story and the big business in sports, be slur to head over to cnbc.com/sport. you'll find the latest news and exclusive interviews with some of the biggest names in th siss. up next, final trades.

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points, plus eight over ohio state for the national championship. >> fire. fire. >> tim? >> buyer of joe, thank you for joining us. great time today. alibaba. it's in the carbed, it's in the tube. >> kenorar, sht tlt. short tlt. >> thanks for watching. my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to the san francisco edition of "mad money." i'm trying to help you make money. my job is not just to entertain but to explain. we get positive earnings, good inflation numbers.