and inflation would not be met with anything friendly, likely from the market. i do think we have to keep in mind yields down should ultimately provide support for parts of the economy and for the stock market. we'll see if any of that gets some traction. >> okay, mike, thanks. and we're going to have much more on the outlook for inflation tomorrow. on overtime. we're joined exclusively by chicago fed president austan goolsbee. that's it for overtime. fast money starts now. >> live from the nasdaq market site in the. >> heart of new. >> york city's. times square. it is a very. >> special night. >> here. >> on fast money. >> we've got. >> company 100. >> plus diehard fans. >> from three countries. over 30 states are here. >> folks. >> all the way from alaska. >> hawaii. >> even ireland. and they're part. >> of our audience for this. >> very special fast. >> money live event. guy donny is coming to take your questions. >> so get ready. >> but first. >> here's what's. >> on tap tonight. >> the fallout. >> from nvidia. >> the semi sox eight plus. percent drop dragging. >> down the broader. >> market, sending the nasdaq within a whisker of its.

election day close. >> so what. >> does last. night's big earnings report. >> say about the. >> state of the ai trade and the future. >> for big tech? >> and with the s&p now back negative for the year, we're taking the pulse of the retail trader. charles schwab's head of trading services. >> will join us here on set with. >> his view on. >> investor sentiment. >> and what those folks are. >> doing with their money right now. plus. >> starbucks shares perk up under. >> brian nichols stewardship, visa. >> charges to a new record, and lyft gets a little. >> lift. >> a little too late. >> for tim's bliss up, though. >> oh, boy. >> welcome, everybody. i'm melissa. >> lee here. >> in studio b. we've got a super sized desk. >> here for this. >> extra special show. >> steve grasso, tim. >> seymour. karen finerman, dan nathan and guy adami. and what a night we've got on tap here, right? i mean. >> let's give the audience. >> a round because. >> yes. >> we can't hear the. >> audience make. >> some. >> noise back there. there's a delay. watch how loud it's. >> about to get. >> it is amazing. it is amazing. we're so glad that everybody is here to share this special day. and we. >> start off with the late day.

>> sell off that sent the nasdaq down nearly 3% today. the tech heavy index posting. >> its lowest close since election day. >> and now just half a percent away from erasing all of its post-election gains for the first time. >> the big drag. >> invidia down 8.5% for its biggest loss since the deep sea scare a month ago. the ai darling, shedding more than $270 billion in market. >> cap just today. >> is now over 20% off its record high from early this year. the move coming after the company's hotly anticipated. >> earnings report. >> last night. weak margin guidance overshadowing top and bottom line beats. so was. >> this the report that. >> broke the back of the market? guy what do you think? i don't. >> know if it broke the back, but. >> in the short. >> term it. >> clearly did. and you go back we talked about. >> this in. >> january that quarterly reported that the engulfing. >> pattern of the. >> next day, we said technically that looks like two times we saw last year, and both times resulted in anywhere from a 25 to a 40% decline. >> and we're in the midst. >> of one now. the quarter was fine. >> it's not an. >> indictment of the quarter. the numbers are staggering, but it's the magnitudes of the beats that are getting smaller. and

one of my concerns was margin deceleration. >> and you. >> saw it. now people will explain it away and say, what reaccelerate today the market shot first and ask questions later. >> yeah. and they told. >> you that. >> margins were going to decelerate. >> so to me it wasn't a big surprise. >> i actually. >> just make. >> this one point is looking at the. >> post-market, looking at the pre-market and taking. >> your cues off. >> of that is not really a great example. >> the stock. >> opened up today. you know, for. >> me, it was that there. >> was. >> not an. >> upward earnings. >> revision. for the first time. >> i want to say in eight. >> quarters there. >> was nothing wrong with the quarter or the guidance or the commentary. it's just there. >> was so much. >> enthusiasm in this one stock as a pure play on this secular shift, that the stock has been telling you for nine months that it's going to take a time, it's going to take a time out and it's digesting a little bit. so to me, i think the price action today made some sense. i would have expected it to be down 5% right after that conference call, because there was no there there. >> what were we talking about? >> the test that. >> yesterday, you. >> take a look. >> at arnold horshack welcome back, kotter? >> not exactly. >> but i mean, that's what this test, that's what. >> this earnings. report was,

because it happened in the context of a market that wanted to see the holes in the story, that had a lot of doubts, that are worried about the uncertainties involved with tariffs and chip exports and things like that. >> you know, is the blue dress, gold dress. kind of thing. right. so i, like dan had my own view that actually is different than dan's, which isn't surprising. >> i thought the. >> call was actually pretty good. i think that the margin story i absolutely. >> believe. >> we're talking about blackwell, which is this is the first quarter that they really started to ramp up $11 billion. and i think that they've talked about how difficult it was, how complex it was. and so that's expensive. and so that means margins aren't. >> where. >> they're going to be. i bought i believe the. story of 71. let's call it, which was the disappointment in the margin, which weighed on the stock, i believe that could go up a few hundred basis points. so to. >> me, nothing. >> was i thought the call was good. and, you know, last night when i. looked at it last, it was sort of up a little flattish. >> nothing really happened. >> so i don't think that. >> the story unwound today. >> i think. >> some other things. >> happened as well. maybe there

were those who were really hoping for something big and. >> had. >> options, and they just had whatever sell that could be. but i think it was also the uncertainty about the china tariff situation. so that weighed on it as well. so i don't know. i don't want to get too distracted by what i think is really not a monumental event. >> closes the lows. >> of the session on very heavy volume and 60% average daily volume. >> it was the. devil with the blue dress, and it's hard not to be distracted. >> and it's hard. >> also to see where the semiconductors as a group closed through that intraday low on deep sea. 232 on the sm is an area that i think everyone was kind of watching. they actually traded through to the bottom. and if you look at semis and i say this a lot, which is where have you been getting market leadership. you've been getting semis leadership over qs or nasdaq. you've been getting leadership over the s&p from those two. and you now have semiconductors that after today's -6% are down about 5%, going all the way back to march of 2024. i don't think there was anything wrong. i don't think

nvidia could not have done anything differently with that number. and i think they massaged a lot of the information flow around global demand. and yes, as everyone has pointed out here, the margin story which ticks down, is expected to go higher in the second half of the year. i think this is about tariffs. i think this is about macro data. we got this morning. we got terrible housing numbers. we got we got pce embedded in the gdp report which was also not a great number. so ultimately i think some of this is macro market intelligence coming into this. and this is one of the most bearish moments that the markets have had in months. and today it played out. >> i don't. >> think it has anything to do with tariffs. i is it. >> a. >> small aspect? yes. i think the major headwind is. >> that. >> you have. >> you have on the revenues. >> over 40% is from four clients. three of those four clients are making their own chips. if they pull away from this business. and by the way, all the other clients. >> don't need. >> the. >> sophisticated chip. >> that blackwell. >> provides for them. >> so you have an amd. so you have a gowdy chip from intel. for me, it's about why don't. >> you see.

>> where the. >> stock can go. probably 113 is. >> where people are going to take a shot. >> that's the february. >> 3rd low. but i think this thing dips. >> below $100. >> and i think it's a commoditized business. >> you're talking about the number of people working on their own chips. yeah. you got to list. >> so steve just made a couple. all right. so it's all the usual suspects. and you're going to kind of just knock them down one by one. but some of the like kind of third party folks who kind of, you know, kind of rate these things versus the others. i mean, for inference, this is very different than the chips that are used for the training of the models. and so once you've trained up the models, then you can start using a lower cost chip to do the inference for, you know, doing all the tasks and that sort of thing. so the cfo spent some time talking about it. they got questions about this and they see a huge opportunity there. right? they built some great models on these, you know, high end gpus. but the one issue that i have here about the margin is, well, i'll come back to karen a little bit is like so blackwell initially in the fall it was going to be there was some bugs, there were some delays, and now they got it going. it was 30% of that data center number that we saw last night. well, there's reports out that ruben the next

generation is going to be six months earlier. so at the end of this year. well that's a very complicated architecture too. and they're going to have to spend a lot of money to get that up and running. so when i hear something about, well, the gross margin is going to pick up in the back half of the year. i don't like, like back end stories. you know what? you know what i'm saying? like, so to me, i think it makes sense to be a little skeptical, a little skeptical right here. >> yeah. >> sometimes that does not mean it's not like. >> back in saying. >> you know what i mean? >> yeah. i mean. >> not every back end. >> story back half loaded is what i meant. same thing. oh. >> i'll say. >> this real quick. you know, if you look at the sm, which is not the best constructed etf of all time, but it's one we look at that made its all time high of july of last year. and now we're breaking down the levels that we last saw in the fall of last year. that's problematic because much of this rally has been predicated on semis. and then mike microsoft, which we all agree is one of the most important companies in the world. look at how poorly that's traded since over that same time frame. so below the surface damage is being done. >> all right. we've got an earnings alert on dell shares initially higher but now negative in the after hours after a mixed fourth quarter

report, the conference call kicking off in less than half an hour, cnbc's christina partsinevelos got the numbers. christina. >> well, the conference calls actually they started about 30 minutes ago. but dell's server business is equipped with nvidia's powerful chips, and business in that section is booming. that's why it's infrastructure solutions group. isg is the fastest growing segment, although q4 sales did come in below estimates, dell's chief operating officer says deals booked with ai. that's elon musk's ai model, and others put dell's server backlog at $9 billion. good news these servers, though, include nvidia's chips and management pointing out on the call just now. margins are actually lower with blackwell than the previous iteration of hopper chips. so that's, you know, weighing on gross margins for that section. dell is also still highly exposed to traditional computers and servers. that's about 50% of their business management is saying on the earnings call that they're still waiting for this pc refresh, especially transferring towards ai pcs, and that the consumer still continues to be challenged. you got a mixed report too, just in

regards to their guidance, but shares really turning once this call went underway to talk about the challenge, consumer and margins for certain categories. back over to you melissa. >> all right christina. thank you christina partsinevelos karen. you own this one. >> i do i like dell this i didn't. love this quarter. i didn't get a chance to i didn't hear the call obviously. but i will listen to it later. but you know, a little light on a couple of things. the pc refresh has been slower than we thought. even, you know, the sexier part. the isg a little slower than thought. the guidance was very good in terms of eps. this doesn't make this an expensive stock. they're talking about 930. so it's, you know, 12. not even so i think there should be some support there. but i really want to hear the call and hear what you know there. where do they think we are in the ai boom. >> right. let's get more on nvidia's report in the state of the ai trade steeples. reuben roy joins us now. reuben, great to have you with us here on set. what did you make of the quarter? >> you know, within the.

>> context of. >> all the moving. >> parts going into the quarter? >> i really don't think it could. >> have gone much better. >> i think. >> jensen and company. >> you know, laid out the. >> vision. >> laid out the. >> plan for the rest of the year. >> and i think, you know, things really went well. >> you had. >> technical issues. >> for blackwell. you had the deep. >> sea event. >> you had. >> tariffs and all kinds of things. and then, you know, the overarching thing of theme. of how long is this capex cycle going to happen? you know, how big can it get? and we went through december quarter earnings and every hyperscaler raised their capex pretty much right. google went to $75 billion for the year, up from consensus expectations in the low 60s. so i think it went really well. maybe a couple of things we could nitpick on margins and otherwise. but overall i think it was a great quarter. >> why do you think the markets are so skeptical? i mean, i imagine that today was a very busy day for you. you spent all day talking to investors and clients. et cetera. about this slide into the close. yeah. how skeptical are people of the ai story at this point? because

obviously nvidia didn't say anything. jensen went full court press. you know, he did the conference call. then he did a 20 minute interview on cnbc. and the stock still slid into the close today. >> yeah, i think. >> i heard the term, you know, shoot first ask questions later. and you know i think there's a lot of jitters in the marketplace. i mean kind of what's next. we've got this event probably, you know, there is a little bit of a de-risking, which is great. but then what. right. so in our view, we've got a catalyst coming up in a few weeks time and is going to have the big tech conference gtc, which i think is going to be really interesting in terms of product roadmaps, technology and otherwise. but you know, until then, what are we what are we planning for? i guess short term is sort of what's what's i think in the market today. >> well. >> reuben, maybe we're just playing for a valuation argument that at some point says this is really attractive. i mean, you know, relative to peers. and i would just say also help us understand within your coverage, especially in the semiconductor space, i mean, where would you rather be given, at least in the concerns around ai, are certainly not places that i think there's really almost anyone else that can even be in this game. so talk about valuation and talk about

relative value to the peer group. >> i mean, it's cheap. this morning when we were pitching it to investors. >> and even better. >> yeah got better. we liked it this morning. we love it now down in the low 20s on next year's earnings. right. and numbers didn't move much. right. but you know you have a ramp coming. we want to play for the blackwall ramp. it has it just started. it's going better than we thought but second half bigger ramp potentially. so a stock that's trading in the low 20s on forward earnings with you know margins. people are kind of complaining about 71% gross margins. i've been covering semiconductors for 25 years. that's pretty good. and as you guys know nvidia is not a chip company. it's a system software and solutions company. and i think margins are going to go back up into the mid 70s as blackwell, you know, continues to ramp throughout the year. and you've got, you know, other things networking coming back, software coming back, etc. so i think the stock's cheap. it's the best way to play i compute. but yes i think i investment it's a broader investment cycle. there's networking companies out there. there's a lot of other companies that are i think part of this you know boats rising

with all tides that nvidia really is driving. so we're still in kind of full bore ai investment cycle. >> so reuben, thanks for being here. first of all, i thought he spent. >> a. >> lot of time on the call trying to talk about inference as actually needing much more compute than we had originally thought. and so did you. did you buy that? and how do you think that translates into the story? >> yeah, i do buy that. i am, you know, and it's not just jensen talking about it. we talk about we talked to supply chain folks. we talked to other users of, you know, various methods of ai compute. but i think something that gets lost is, oh, you need a lot of compute for training. and then we can do inference on our iphones. i don't think it's that simple. i think the definition of inference across workloads is very wide. and, you know, there are inference use cases that require massive amounts of compute. and the other thing that's happening, i think deep tech is showing this, is that the world is changing very quickly, right? when you get to post-training models and we get to, you know, kind of distillation of other models and trying to figure out reasoning and otherwise there's a lot of

compute intensity. so that's what's going on. i think, you know, the world really hasn't figured it out yet. so we talk about custom chips and custom solutions. i think nvidia is, you know, kind of approach of a gpu, which by nature is quite flexible and programable and, you know, workload independent. i think there's a lot of merit to that as we, you know, figure out where the workloads are going. i still think we're in the very early innings of an overall ai investment cycle. and inference is, in our opinion, absolutely going to be a long tail investment cycle. >> reuben, thanks for coming by. >> thank you. >> thanks for having me stifle. steve. you have been out of nvidia for a while. is attempting. >> it's not tempting only. >> because after that deep sea. >> headline. >> i know that people are still going to spend money. those four clients are going to still spend the money, but they're also going to say, if i could spend. fractions of the price, we better be working on better chips ourselves. so it's not, as ruben said, it's not a chip. company as a as a solo, but it's been it's benefited from being a

chip ai company. and i think there's plenty. >> of. >> other companies you can go to now. we've all liked nvidia. we some of us have liked it since the teens. i'm not saying we hate it. we don't need hate mail. i think it's time to let it breathe. so if i had to say 9150, i think 91st. >> remember this is. >> i'd say nvidia is a stock that's overshot every single cycle in each direction. remember in november of 21 to 22, it went down 65%. nobody wanted to own it. >> coming up, we're just getting started in this special edition of fast money live or die hard, fans of questions on stocks, trading techniques and much more. hello, ben, we're going to get them some answers next. but first, sipping on starbucks shares, touching a three year high as the coffee chain gets ready to make some cuts to their menu. but the changes could mean for the stock and fast money returns. >> yes, you might as well. >> great stuff. thank you. >> great stuff. thank you. awesome. (grunting) at morgan stanley, old school hard work

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on the chopping block include the espresso frappuccino. >> oh, guy, you're going to be okay. >> i'm fine. >> i'm fine. >> lemonade. >> that's projections. >> and white. >> hot chocolate. so let's dish on what the changes mean for this. you should have seen the list of the drinks. it is insane. chai creme frappuccino. caramel ribbon crunch. i mean. >> it's too much. >> thank goodness there's. they're paring it down. >> you know, we joke because i know guy really does, like all those fancy drinks. i'm pretty much just a straight coffee guy. but getting back to what are the drivers for starbucks here again, you have a case with the new ceo and brian niccol superstar. you've got a dynamic here marketing guy. but really it's been the operational dynamic. streamlining. this menu i think is part of it. the margin story is something that i think is still in question, but this stock's got a lot of good news priced into it i'm long i'm happy. and the cherry chai drink i think is something that i. >> want re chai. >> drink i don't know. >> what's interesting. >> about this. and you know i think they have the gap up here on the chart when they had that

ceo change. you know this is something when steve jobs came back to apple in 1997, he took a look at all the skus that they had. and he got rid of like 85% of them or something like that, and really kind of set the stage to focus on the things that kind of made the company what it is. and i think that's kind of what this new ceo wants to do. that being said, the stock has come a long way in a short period of time, and we got to see the rubber hit the road. >> so it. >> makes fun of me. you know, you understand the word projection because all the things that tim likes, he's saying that i like, i get how that works. with that said, you know, we if our crack staff in dc can put up a chart, you know, we've talked about this three year downtrend was broken about a month, month and a half ago. and it sets up for that prior all time high, which was, i think in the summer or so of 2021. tim knows better than i but 120, but i think at that point you got to be taking some chips off the table. >> all right. we're going to take a quick break here. but guy has got somewhere to be. yeah yeah. get going guys i got to get my. fanny packs. going to check in with our fans to get some of their questions for the traders. also ahead, we'll go inside the mind of the retail

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has made this year's list. meet the new icons. the cnbc changemakers list revealed. available now at cnbc.com. changemakers. >> welcome back to fast money. we've got guy on the ground with our fans. most burning questions. guy what do you have. >> i mean. >> it is. >> it's a little crazy here mel. people are excited as they should be. we got questions. so i'm going to go to dave. dave stand up. and your question. >> thanks. >> we're really happy to be here and i hope i don't get. >> in. >> trouble with melissa. >> would you. >> rather would. >> you rather. >> morgan or goldman sachs? >> wow. jp morgan or goldman sachs? i'm going to answer that. i'm going to say goldman sachs because i worked there and i love the people. but i guarantee karen feynman has a different answer. karen, give it to me. >> yes. you're right. i have a different answer. i would say jp morgan. >> i like. >> that the business model is a little more recurring than

goldman sachs, which you know, is trading desk and it's great. and all of that when it's good. but i would trade at a lower multiple. so jp morgan and of course. jamie dimon. >> yeah i mean it's remarkable the love affair with jamie dimon is and he's watching right now. shout out to jamie dimon. i love you jamie. we're here with shiraz from toronto shiraz. your question. >> you know i've. >> been an old fan of. >> fast money for many, many years. and guy, you. >> are. >> our favorite, right? >> listen, i'll venmo. >> you that. >> money. >> but thank you. >> my question is on meta. you know, i own meta for. >> many years. >> now. and it's. >> up a significant. >> amount. >> a couple. >> of. >> hundred percent. and holds a. >> big chunk of the portfolio. and now for the last, you know. >> a couple of days ago it had a 20 day streak. and you guys on. >> the set. >> say, you know, it's the best stock. and people. say you. >> should. >> let your winners run. but the problem. >> i. >> have is it keeps marching. >> higher and higher. >> each time. >> and what should i do?

>> you went to the peter jennings class of question asking, you know, the questions are longer than the answers. this is great for steve grasso. this is all about portfolio management steve. what does he do. so when you got into the trade you have to ask yourself how much am i looking to make off of this trade. so you want to give yourself a profit. but you started off saying it's become a considerable percentage of your portfolio. what was it. >> when. >> you established the position? because you should, in theory, bring it back down to that same percentage, but you want to give yourself a profit. so if you were looking to make 20%, take yourself 40% out of it and leave the rest and let the ride with the house money. i'm with ken guthrie from cleveland, tennessee. a shout. >> out. >> to tennessee is in the house. >> amazing. >> your question. >> you guys commute with me every. >> day for my hour ride from work. >> from 5 to 6:00. >> so it's great to be with you. but my. question is. quantum computing technologies. >> what do. >> you think the future. holds for companies. >> that are involved in?

>> well, as you've come to realize, i am not the smartest person on the show. i'm not the sharpest knife in the drawer. but you know who is dan. nathan. dan. quantum computing. >> yeah. great question. and you know, we're always looking for new technologies that are going to drive some existing stories, but also some upstarts here at, you know, microsoft and alphabet. google have had some big announcements in the space, some research that they've been doing. and i think they got some early gains of that. but again, i think it's too far away. you got to be really careful about some of those small cap names that are saying that they're quantum stocks, because until we figure out what that actually means and how it's going to be commercialized, it's probably a little too far in the offing right now. >> all right. i'm here with mary, and she asked me a question before and she said to me, is tim seymour as handsome in person as he is on tv? and the answer is clearly yes. but you have another question. >> first of all. >> you. >> are. >> my. >> taylor swift, right? you guys are our celebrities. really?

>> you are. you're sweet to. >> say i appreciate you. >> thank you. >> yes, even so much. so when my final. time comes, they're playing the fast money music. >> it's not none. none too soon. >> it's not coming too soon. >> but please. >> no, it's not. >> but i've. >> got a question. >> if somebody's. >> got dry powder, should we buy. >> should we. >> sell. >> or should we. >> hide out. >> in. >> maybe treasuries? what do we do if. >> we've. got dry powder? >> where do we go? >> well, i'm going to give that to karen finerman, the dry powder queen. >> karen o. thank you. >> i don't know what to make. >> of that. you know, i always long. so i always want to be invested. and it's really hard. >> to. >> time the market. i never try to do. >> it because i know. >> i'll never get it right. but one thing i do really believe in is dollar cost averaging. you can just slowly deploy it. you don't need to make a decision, an emotional decision every week or month. however you choose to do it, you just deploy it over that amount of time. ultimately, that works out. >> tim. >> now let's hear from the great

state of michigan. love, michigan, right? i mean, right, give a round of applause for michigan. by the way, sleeper this year, the detroit tigers in the world series. what's your question? >> hey, guy, i have a stock i'm very in love with. i play it for the dividend. it pays a 8.33% dividend. and i reinvest the money i get from the dividend over and over again. compounding of what's your take on stock called are aries capital. >> you might as well ask me what the winning lottery numbers are tonight because you're going to get a better shot. i mean, that one's out of my bailiwick, but maybe somebody on the desk, i'll throw it up to the group. maybe somebody knows a little bit about it. >> tim is raising his hand. tim, what do you think? >> very well. i know, aries, and ultimately, again, we're talking about a finance focused company that has been delivering a pretty steady, steady dividend yield. and one thing we often say about stocks is i don't

necessarily like to own a stock just for a dividend, even though there have been names like an energy transfer or even an at&t has been resurgent. but it's not been necessarily about the dividend. now, in the case of aries and the case of some of these finance companies that are actually focused on investments in, in, i would call them middle market companies. it's been an incredible run for credit. and at some point it's going to be an issue. right now, i actually think these kinds of returns are ones i love compounding. it's like the magic in this world that actually exists. >> all right. we're going to get to more questions a little bit later on in the show. meantime we're going to take a break. coming up, the bears coming out of hibernation on wall street. retail trader pessimism nearing record highs. but one firm is seeing some signs of hope. the latest read on investor sentiment. next. don't go anywhere. more fast money into. >> next. a moment of fast. catch us anytime on the go. follow the fast money podcast. we're back right after this. >> welcome to reinvented with accenture. >> today i'm here with. >> margarita della valle, ceo of

vodafone. you were employee 25, in vodafone italy. today you're the ceo of vodafone. what is your strategy and vision for the future? >> we are changing our culture to really focus on our customers. we need to acknowledge that change is hard, but if people understand it's but if people understand it's for the right reason, then you gold bond believes touch says everything. it says... i see you. i feel you. and...i know you. gold bond. get in touch with irresistibly touchable skin. when i started walton goggins goggle glasses, i had no idea what i was doing. but godaddy airo does. using ai to build a logo, website and social content. so i can let the world know, if your goggles ain't goggins, they don't belong on your noggins! ruri: ichi, ni, san, shi... (1,2,3,4...) hina: ichi, ni, san, shi... (1,2,3,4...) akari: ichi, ni, san, shi... (1,2,3,4...)

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>> real hair back permanently. >> let's get this done. >> welcome back to fast money today selloff intensifying into the close after president trump confirmed tariffs on canada and mexico would proceed as planned. the dow dropping nearly 200 points. it had been up 450 points at highs. the s&p down 1.6%, the nasdaq leading the losses down nearly 3% as nvidia plunged more than 8% on the back

of its results. well, individual investors are getting more pessimistic about the market, according to a latest investment sentiment survey. the share of respondents with bearish views rising to 60.6%. it is only the sixth time going back to 1987, where that number has crossed the 60% threshold for bespoke investment group. for more, charles schwab's head of trading services, james katsouleas, joins us here on set. and you're actually seeing something a little bit different. it sounds like there is some optimism out there. >> certainly. >> well, thanks. >> so much for having me, melissa. i would say yes. a little bit different. >> but the recent. >> survey we did was a. >> quarterly sentiment survey. >> and as i was just. >> telling steve. >> wow. >> can things change. >> quickly within these markets. >> so certainly a little bit. >> more bullish. >> probably coming. >> into the. >> start of the year than we'll see now. >> but a couple interesting trends i. >> think that. >> are still. still offer some pretty good perspectives. >> one would. >> be more bullishness in younger investors. >> so we saw a pretty. big spike.

>> up to. six out of ten younger. investors turning bullish towards the market which is certainly interesting. >> the relative to sectors. >> i think we. >> see a bit. >> of. >> bullishness in finance. >> which i think is. >> sort of. >> holding through what we're seeing even over the course of the last couple of days and couple of weeks, and. >> certainly some bearishness. >> within healthcare. >> james, over the last few years we've kind of some sentiment, positive sentiment has been around products, right options, crypto, that sort of thing. what are you seeing in those products? because we know that some of your competitors are seeing a lot of growth there. >> yeah, we continue. >> to see. >> great. >> growth in derivatives. >> both options and futures has been really. >> really strong. >> i think over the course of the last. >> couple of quarters. >> definitely a rise in equity trading as well. what we tend to see at schwab is resilience within the derivative traders. >> so they're going to be there. >> regardless of what they're seeing in the market. and with what we've seen with. >> the bull. >> rise lately, certainly a little bit more of a lean towards equities. >> james, when. >> you look at crypto obviously you're trading them all through etfs. now at schwab. is the

younger population. more bullish that would that would seem logical than than the older older demographic. and last one just to piggyback it with are these do they validate when you look back in hindsight do the things if they're negative health care does that is that proven out six months out or is it a contra indicator? yeah, it's. >> a great question, steve. >> so we also do. >> in addition to the quarterly. >> sentiment survey, we do a. >> schwab trading. >> activity index. so we the survey is sentiment based. the schwab trading activity. >> index is actually behavioral based. >> so we. >> look at. >> actually what we. >> see trading. and we do that monthly. and we've created an index out of that what we call the stacks. oftentimes they are very highly correlated. where it gets. >> really interesting is where. >> they're not correlated. and sometimes probably 1 or 2 quarters a year, we will see some. >> derivation between. >> what they said in the survey and what they're actually doing, which tends to lead to some interesting insights. james, how about a case where after a run

we've had in the volatility even of the last couple of weeks, and the bearishness, bearishness you're talking about, are people taking their money and putting them into higher yielding, call it money markets in places that that really are more about an asset allocation that frankly, we hadn't really seen out of that investor until rates were useful. >> yeah. >> so certainly with the rise in rates we saw that right. being in this business for quite a while, we hadn't talked about rates since. >> probably. >> you know, five or 6 or 7. and then rates became all the rage. we are seeing a lot of engagement, a lot of trading engagement, as was asked before relative to certainly derivatives but equities as well. we're up from a trading perspective a little less than 10% year over year. we have not seen a slowdown in the start of this year. so i don't think at this point people are on the sidelines. i think they are still remaining really quite active. >> james, thanks so much for joining us. it's always great to get a picture of the retail investor. >> my pleasure. thanks so. >> much. >> for joining us of charles schwab. guy, what do you. >> what's the matter? >> are you drinking out of a yankees cup?

>> yeah. you know, i feel really bad because the yankees seem to really have lost the back page of the new york post. you're not getting enough attention. so as a mets fan, i just thought it would be nice on a big show of ours to drink out of a yankee cup to make you feel better. >> no, i appreciate that. you know, the mets fans always have been sort of the younger children here in the new york metropolitan area. and i understand why you would want to do something like that in a live television show. but the reality is it's still a yankee town. melissa. >> obviously we. >> hit a nerve, i think. i mean, that's just, you know, this is. >> i just i. >> don't know. >> where you guys are. >> totally off the rails. >> well, yeah. >> sorry. that's never happened before, has it? >> i'm sorry. >> up next, guy is going to be on the move again. guys, heading back to our beloved fans to get more of their questions. plus, super bowl champion entrepreneur and don mccann will join us next to talk about how he is tackling his latest investments. the special fast money live is back special fast money live is back into. ♪ empower ♪ hey, i got her a little something.

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>> each. >> with consumer cellular. >> interactive brokers pays up to 3.83% on instantly available cash in your brokerage account. how much interest can your bank or broker pay? interactive brokers conservative and prudent risk management uniquely positions us to pay up to 3.83% on uninvested instantly available cash in your brokerage account. the best informed investors choose interactive brokers. >> a cnbc exclusive. chicago fed president austan goolsbee reaction to the highly anticipated inflation report plus impact on fed policy. jon fortt, morgan brennan closing bell overtime tomorrow four. eastern cnbc. >> welcome back to fast money guy is back. back in the fray. couldn't keep him away for long. more audience questions. >> it's a raucous crowd here. now tim won't understand that because it's shea stadium. they go they dress as empty seats.

this is more yankee stadium crowd. but i'm here with sheila. sheila, what's your question? >> i just want. >> to say. >> i'm a. >> cnbc devotee. >> it's on. >> from coffee. >> to cocktails in. >> my house. >> and my. >> question is, what do you do with. >> pfizer that is directed to tim seymour. tim's pfizer. tim, help sheila out. >> sheila, first of all, appreciate the devotee and appreciate running all the way, maybe even through cocktails. and we're going to have some tonight. i think pfizer is a story where it's obviously gone from being the vaccine story coming out of covid. they spent $30 billion on on diversification. and in fact i thought it was a very smart move. the acquisition last year about two years ago was a big one. that's all about oncology i think the integration is actually going quite well. i think the story around pfizer is it's not cheap, but it's a company with a lot of, i think, upside to its pipeline portfolio. and i think there's zero investor interest in this stock right now. so i would stay long. >> david is with us. david, welcome to fast money. >> thank you guy. >> it's an honor to be on the

show. i've been watching this show my entire life. this is pretty much a milestone for me, really. i cannot. >> thank you enough. >> for doing this. >> you're a gentleman. your question is. so with the market's weak and the. >> recent correction. >> there's no bidding in the tlt. >> there's no flight to safety. do you think the tlt or the. >> gld is the. >> way to go to protect yourself? >> i'm going to throw that at steve grasso tlt i'm going to i'm going to pass to karen i'll pass it. >> over to karen. >> yeah i haven't traded tlt since i was seven. >> well i'll take the tlt part i'll pass the gold back to you guy. so i am actually short the tlt. i do think that we are in for some inflation. so i actually think you know 10 to 20 year bonds is not where you want to be. but lately that's been the wrong call the last couple of weeks. >> karen is so difficult on herself. she's karen finerman a round of applause. she's a genius. who tom is here from. get this people alaska. tom is

here from alaska. a round of applause for tom from alaska. what's your question, tom? >> my question. >> has to do with the protection of the portfolio or. >> individual stocks. >> is there a recommended. >> way that traders. >> recommend to. >> protect on. >> the downside? >> this is a there used to be a show called options action risk less make more. all this beep i didn't say the word dan. nathan, help him out here. >> yeah. thanks for coming all the way from alaska. you know, listen, there's two ways to think about this. it's not too different than what steve said before, a you can kind of move your feet and risk manage an individual position as it relates to a portfolio. i like to use index etfs, something like a spy etf, and i'll often use put spreads to do that. but i want to really track my portfolio to the proper etf. that's going to give me the best protection. if you think that you have a tech heavy portfolio, then you might want to use the q. the top ten names there make up 50% of the weight. so i like the idea of put spreads. i don't

do them too often. it can be a huge drag on your portfolio. you want to be tactical about hedging with options. >> the great state of minnesota is represented. a round of applause for minnesota. brian guy. >> a long time. >> fan. >> and for 18. >> years this. >> has. been on my bucket list to be. >> on the show. >> so thanks. you're on now, sir. thanks for having me cross it off. hey, i'm. >> a retired. >> school. >> counselor, high school. >> counselor. >> and my dream job was always to be on the desk of fast money. >> what is your dream job? if you weren't. >> on the desk of. fast money on cnbc? >> great question. i'd either be melissa lee's, like, protege and sort of her helper, or i play tight end for the new york giants. the problem is, i'm not athletic enough and i'm too slow. so those those days are over. but that was my dream job for a long time. thank you. so thank you for that. and we have one more question. hello, raghu. >> hi guy. >> this is the best show. >> on the network. >> i agree, best show on the network. who agrees with that?

now? i will get in trouble for doing that. but i think you've come to realize i don't really care. what's your question? >> so first thing. >> thanks melissa for keeping this wild, mr. swift. and check. so my question is, would you rather halliburton or schlumberger. >> would you rather get in trouble for that? but i will self would you rather tim i'm going to go with halliburton, two of the biggest components of the oil. my sense is you might go in a little different direction here. tim. >> yeah. raghu. first of all, welcome go gators. i would absolutely say schlumberger. i think the offshore drilling margins are increasing. this is a company that's probably getting back to, i think late 2018 ish in terms of profitability. schlumberger and i think it's cheap here. >> i'm walking backwards. i'm walking backwards. but i'm tossing to melissa lee. thanks everybody. >> yeah. >> get your. >> little you know what. back on the desk. our next guest has had a few dream jobs himself from winning super bowl 55 as a tampa bay buccaneers and being on the sky sports broadcast team in

london for this year's big game, to rubbing shoulders with the legendary warren buffett and building out an impressive investment portfolio of his own. five time nfl pro bowler and entrepreneur. and donovan and suh joins us now. big sue great to have you back on fast money. welcome. >> thank you. it's always a. >> pleasure to be on. good to see you melissa. >> and i think we. >> can take care of our guy and get him. >> into a. >> giants uniform if we want to. >> all rig >> right on. >> we'll send him out on the field then. how are you feeling about the investment? i mean, i know you're a long term investor. you've got a lot of investments across crypto, real estate, restaurants, vc. how are you feeling about this environment today as opposed to, say, six months ago? >> this environment is very interesting, honestly, as i'm looking at all my different portfolio positions, but then also just the companies i'm working on, it's important for me to just ultimately look at what my risk is. and i'm seeing a lot of risk, especially in crypto as well as in the stock market, and then just in tech and everything's for sale right

now. you look at even bitcoin, it's 50% off or 20% off. and that means all the other crypto pieces are going to be 50% off from that standpoint. so as i look at it, it's staying cash heavy, finding different opportunities and being consistent. and as warren has always said, you got to always have that long term vision. so focus on what your craft is and your thesis is and stick with it, and you'll be perfectly fine at the end. >> and i was in london in january. i saw the play offs. i saw you calling the games tom brady. your teammates got nothing on you, man. you were great. can you give us a sense? i know you're very diversified here. you know, you've told us once before about when you started investing and how did you think about that. and time frames in the like. >> yeah. for me when i look at investing, i'll give you probably the best example. most recently i've had to take over some companies more so in the hospitality space, and i connected with a guy named greg madjeski, who is a rock star in creating his own brands, but had a lot of success with jimmy

john's taking jimmy john's, excuse me, taking them from 330 stores to 300 stores, and his brand and crave were the shown some great opportunities of one had to be an amazing operator and that's something i learned very, very quickly. i am not an operator. i'm a forward thinker. how we can help make great experiences and do some fun stuff in and around that. but when it comes to operations, you want to have those expert experts that are on your side. and we spent months together before working on deals, and i'm excited with some things that we have coming up in the future. >> you sounded pretty cautious about the stock market in dominion, and i'm just curious what will make you get more bullish. is it a bigger pullback? is it something that changes in the macro environment? there's a lot of uncertainty out there certainly among individuals about the tariff situation and the economy. i'm just i'm just curious what what has you on the sidelines. to be honest with you it's policy. when we look at our government right now, once we can have policy and guidelines of where things are going to be sitting and as you mentioned,

tariffs, all those, all that work has to be settled and have an understanding of where we actually sit. and i think at that particular point in time, i would move forward and say, hey, i want to make some decisions, but at the same time, you can't be afraid and there's no perfect time in entering the market. you want to be able to potentially cost, cost, get into the market at certain levels buying now, buying later, looking at things from that standpoint. but i think it's important always to look at it from a standpoint of what is my long term vision, what is my long term focus? >> and dominic, great to speak with you. thank you so much. and we're going to be sending guy your way to get suited up. >> i will work out all. >> the thank you beef up. >> thank you. all right. let's get a check on some of today's movers starting with supermicro. that's stock. more than erasing all the gains since filing its long delayed financial results tuesday night, just before the nasdaq deadline. this is a very interesting story, because now it's on the other side of this, down 15%. >> yeah. and we said this, i think, on the show last night. i mean, there's so many other stocks to trade when you have

these sorts of investigations. the fact that they passed this one hurdle about not getting delisted doesn't make a whole heck of a lot of sense. and then when you think about dell's results tonight, if you don't want to buy dell, if that thing is trading down off those results, you definitely don't want to buy this one. >> all right, let's move on to visa here. among the dow's top performers adding more than 1% today. the stock touching a new all time high and is now up almost 13% so far this year. so what does visa strength tell us about the u.s. consumer about the consumer at large? in the last earnings report, they are setting really strong cross border volumes. guy. >> well, i mean i think it speaks to how they're spending. and i think it speaks to what they're spending for. we've said it for a while. i don't think it's an indictment or basically a, i don't know, a plus for the consumer. i think what it says is they're fighting inflation with credit, and that's a problem. now visa wins to this, mastercard wins to this. but some of these other companies like maybe like a capital one or american express, potentially if credit starts to deteriorate are going to lose to this. >> so visa i mean it's been an extraordinary stock visa and mastercard for years and years. i think they got a couple of tailwinds the year. so we talk

about cross border. that's so much more profitable business for them. the euro being down so much. that makes that a great destination for u.s. shoppers. and we know japan also. so it's an extraordinary business. i sold my mastercard way too early. never got back in and still regret it all the time. >> all right. let's take a look at lyft shares lifting off today. up as much as 9% on seemingly no news. it did close off those highs, but still up a half a percent and a half or so. rival uber meantime in the red today. so remember famously tim adams lyft to his bicep trade making it last year. lyft could be added to ban next year to be bland. >> one of the one of the things one of the rewards for playing the acronym game the right way on this show, folks, by the way, like adding something i'm not going to say anything. can proceed. but sometimes if things are going your way, you might want to throw something in there. so yeah, ban could be bland. remember the bliss up last year didn't go so well. but

look lyft it's about normalization of their core model. this is possibly a takeout play i like it. >> i want to play the game. i want to play uber. the flip side of it has much more levers to pull. lyft is sort of a direct play, and obviously uber has been outperforming lyft by a large margin this year. >> i can't believe this show is almost over. this special edition has been a lot of fun, so we should do it again. yeah. stay tuned for a big announcement coming next week. up next, a special edition of final trades. up next. >> this is the emirates premium economy seat. >> i'm. >> economy. perhaps they need to call it something else.

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>> it's unbelievable. thank you for coming. i mean, this is unbelievable. >> well. >> first i think we say aloha. >> aloha, kakahiaka. >> mahalo, onwhy. how am i doing? >> very poorly. >> he's came from. >> honolulu, hawaii. >> honolulu. >> all the way. >> from honolulu. >> just to meet you. >> nice to meet. >> you, mr. >> and your name. >> is alani. >> alani munson. >> well, we can't thank you enough. and again, mahalo. we respect and we appreciate all your. >> come in for the hug, sister. i mean. >> don't crush. >> the lei. >> i mean, that's unbelievable. >> thank you, thank you. >> thank you so much. that's really sweet. and again, coming all the way from hawaii. and you brought those with you. so thank you, thank you, thank you. >> hula hula hula dance. are we doing? coming down. got to move it. got to move it, guy. got to move it. got to move. >> it. >> move it. >> throw it back to melissa lee.

melissa back to you. >> i hope you didn't throw anything out. that's all it is. time. can you believe for the final trade of this very special edition of fast money live. so let's go around that horn. steve grasso. >> you know i'm going to play that quantum computing, but i'm going to play it, as dan said, through. a sophisticated way and a multilateral way with ibm. >> karen finerman. >> okay, i'm going to. >> get a little pushback on this for the my final trade, which is the e in carb, the oil. obviously, big oil field services. hawaii h. ian karp. >> not a word. >> energy e. >> is an. >> energy related services. >> yes. >> makes perfect sense. >> perfect sense. >> nathan. >> yeah. i'm going to go with tim's l in the blitz up of last year. lyft i think the path towards autonomy. there's going to be a takeout candidate here that would be lit. >> tim and guy back there with our fans. >> this smells amazing. my final trade is shout out to the most passionate, loyal and smartest fans on any tv show, let alone tv. thank you, fast money fans.

>> shout out to mary duffy and her team and our entire floor staff. they've done an amazing job. casey sullivan is here. thanks everybody for joining us. let us see. we'll get you done everybody. >> bit of that. thank you all for watching a very special edition of fast money live. mad money starts right now. >> 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 and i. >> promise to help. >> you find it. mad money starts now. hey i'm cramer. >> welcome to mad money. >> welcome to cramerica. other people my friends. i'm just trying to save you a little money. my job is not just to entertain, but to put everything in context. and i got a lot of work to do today. so call me at one 873 cnbc or tweet me jimcramer. president trump is out there fighting inflation every day. except not the way we want him to do it. he's f