application side and the stack side of i questions about whether that market driver continues post nvidia earnings. >> yeah. meantime we actually had a major bump higher for the averages coming into the close today. after a topsy turvy week for the market and a topsy turvy month that's going to do it for us here at overtime. >> 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 february to forget. stocks closing today near their highs of the session but still posting solid losses for the month. the nasdaq briefly erasing all its post-election gains and seeing its worst month since april. but what does the action mean as we get ready to kick off the month of march? and a bitcoin bummer. the cryptocurrency dropping below the $80,000 mark for a time before bouncing today for the first time in over three months. is there more pain in store for the digital asset, or are we

primed for a rebound? plus, housing headache as the home builders struggle at the start of the year. a box office make or break moment ahead of the oscars this weekend. and the traders reveal their charts of the month after this very volatile february. i'm mike santoli in for melissa lee today. coming to you live from studio b at the nasdaq. on the desk tonight tim seymour, karen finerman, courtney garcia and steve grasso. welcome to you all. a lot to you. welcome to you. thank you. yes i appreciate you. >> it's great to. >> have you. you got me. you showed me. do you have. >> do you have a fast money nickname. >> yet, mike? i mean, have you been given you won? >> sounds like tim has. >> thought about one for you. >> you got 58 minutes and 40s to come up with. remember? >> remember jamaal. >> wilkes on the los angeles lakers? what was his nickname? >> well, he's keith silk. >> okay. >> silk. >> silky smooth. >> mike santoli. >> i'll try to live up to it. thanks, guys. hey. market's rebounding late in the day to close near their highs of the session. but it was still a

rough month for equity markets. we're going to get more on that in just a minute. but we start with more on the fiery oval office argument between president trump, vice president j.d. vance and ukrainian president volodymyr zelensky, which ultimately led to the cancellation of their press conference this afternoon. eamon javers is at the white house with all the headlines. eamon. the market seemed to stop and gape at what was going on there, as i guess all of us were, but knit it all together with us in terms of the upshot. >> yeah, mike, there was a lot of stopping and gaping watching what happened in the oval office today. dramatic and unprecedented events in the oval office as the meeting between the united states and ukraine broke down into what ultimately became a shouting match between president trump, president zelensky and vice president j.d. vance. a lot of this was over us concern that zelensky was not being grateful enough for american foreign aid was being disrespectful to the united states in the oval office, as the vice president put it. and at one point, i want to bring

this to you, because there's this question as as president trump is now reorienting american foreign policy away from ukraine and toward moscow. there was a question from a reporter in the room about whether the president, president trump, that is, is too close to vladimir putin. here's that exchange. >> do you want me to say really terrible things about putin and then say, hi, vladimir, how are we doing on the deal? it doesn't work that way. i'm not aligned with putin. i'm not aligned with anybody. i'm aligned with the united states of america and for the good of the world. i'm aligned with the world. and i want to get this thing over with. you see the hatred he's got for putin. it's very tough for me to make a deal with that kind of hate. >> and you saw mike, as you said, that the press conference after that meeting was canceled, the luncheon that was scheduled today at the white house also canceled. the president is getting ready to leave the white house here. he's going to spend the weekend in florida. we'll see if he talks to reporters on his way out the door. following

the president for a couple of years, i can tell you i expect that he will talk. he will want to have the last word on this exchange. so we'll wait for those comments. but meanwhile, we're getting a reaction from all over the world here. what we're told is that zelensky has already spoken to france's president macron, also the head of nato. the canadian foreign minister posted that he has spoken with the ukrainian foreign minister to reaffirm canada's unwavering support for ukraine. german chancellor scholz says ukraine can rely on germany and europe. and we saw this from the vice president of the european commission saying that ultimately the free world needs a new leader. she says ukraine is europe. we stand by ukraine. we will step up our support to ukraine so that they can continue to fight back the aggressor. today, it became clear that the free world needs a new leader. it's up to us europeans to take this challenge. so the question now, mike, and it's an unknowable, is what happens with the us ukraine relationship, what happens to us military aid to ukraine, if

anything? and what happens to the us relationship with europe? a lot of damage done here today. this president sees himself as a disrupter and a dealmaker. he's certainly done some disrupting today. and we'll see what kind of deal he's able to pull out of the events of this afternoon. >> tim. >> thanks for joining us. >> extraordinary comments. >> from around. >> the world. and, you know, we. >> talked about alignment. >> you talked about alignment. >> my sense or my guess. >> and my question to you. >> is, is how about alignment within the. >> white house. >> and if we. >> looked at markets, markets. >> that was. >> the low point of the day. and i know they're not related, but on some level they are. >> was there. >> some attempt. >> by the white. house to walk this back. >> because it clearly looked like that was the. nadir of sentiment today. but again, trying to understand within the administration and. >> trump's team, if. >> this really. >> is a clear issue of alignment. >> yeah, i mean, look, in terms of what happened inside the white house afterward, i can tell you that there is there's no deviation of views among anybody at this white house that

the president handled himself appropriately, appropriately, and did the right thing. i mean, within moments after zelinski left, i was getting texts from white house officials saying the president just kicked zelensky out of the white house. they wanted to hammer home that point, that this is the president being decisive, making a break, a deliberate break with ukraine, the feeling that the united states is spending a lot of money here and getting not enough return and not enough respect back. and then the question of markets, tim, i think is a good one. you know, you know better than i do why markets reacted today. but you know the old cliche is that markets hate uncertainty. and what we saw in the oval office today does bring a whole lot of geostrategic uncertainty back onto the table that maybe a lot of people thought was off. >> and absolutely appreciate it. you following every turn of it for us. and now in terms of the interplay with markets, i mean, steve, the market usually is going to look for something specific that it needs to reprice maybe in any of these geopolitical events, as opposed to just a feeling or some kind of a guess of what it's going to mean down the road. so what did

you what did you read today's market action as in relation to this? >> everybody just backed off buyers really. that was this was something that we've never seen. right. >> so no one knew what to make of it. it was the end of the month. >> you had a large pension rebalance. everyone took their fingers off the buy buttons, gave it a little bit of a rest. they came in late in the day. but we. don't know. it's so manic. >> yeah. is does. >> he show up at mar a lago? >> does he show. >> up next week? does there a. phone call? is there is there. something that happens in a 24. >> or 48. >> 72 hour time period? president trump. wanted a reason to distance himself. >> it's remember that tweet that was. >> super. >> aggressive against zelensky. >> then he backed off from it. i think he. >> almost wanted. >> this to happen. so does it does it. >> do something to the overall markets? >> i think people are just going to take a hiatus. >> take a little bit of a breather. >> remember, it was month end. i think. people would probably new

stories are going to be cycling over for the next two days. let's see on monday. tuesday where where it falls. >> we do have tariff. >> tuesday. >> so that might take a little bit of the. >> focus off of this. >> courtney. the setup was interesting too, right? the market was down 4.5% coming into today. it was getting a little bit overdone maybe to the downside. oil's been tame. rates are down. so in other words, it wasn't just like this came out of the vacuum and we were at all time highs to react to. i guess the question is, should investors be incorporating this in any specific way to their market outlook, to their portfolio strategy? >> i wouldn't say yet. >> right. i think this is just so new. we don't know how this is going to play out by any means. and i think coming into this, what a lot of people don't realize when we're talking to all of our clients is the fact that europe has actually been outperforming the us this year. when you hear trump talking about america first, and we're going to put tariffs on all these other countries, i think a lot of people aren't following this day to day, do not realize that that's been happening. and even today, if you look at the european indexes, they also sold

off like right after that conference, but also just came right back up by the end of the day. so i think a lot of this, there was that knee jerk reaction, but i think it's been positive to see that the markets have been reacting a lot less to these political headlines coming out of dc. and i think that's what it is, is there has been so many of these. this one is probably more extreme than others, but the fact that markets are taking a pause, i think is a good thing that they're looking at fundamentals, not just political headlines. >> karen, is that the way it feels to you that is the market overstimulated and therefore just kind of shuts down on it? or have we priced it in here and there? >> i feel like it's it was theater somewhat right. as we all said, we've never seen anything like this. and you'd certainly be surprised to see it in that, in that open forum that it was specifically designed to have the press there. right. so we saw it right when he came in tariffs right away and then backed off a few days later. so you i mean you'd sort of be you can't just follow whatever the, the shiny thing of the moment is because it may not be shiny in two days. so let's see. but i think that it's tiring, though. it's tiring for investors. and i think also it does weigh on

sentiment for some ceos. right. how do we know how to gauge our business? how do we know what kind of inventories we need. how do we know what tariffs we may or may not face. how do you prepare for that. and it's hard. >> to your point. defense stocks, you would have thought they would have rallied more when he said, you're paraphrasing. you're on the precipice of world war three. you're on the brink of world war three. you would have thought defense stocks would have rallied a little bit more. i'm long mp. that one did rally because the reason why they were in the white house. oval office was because of rare materials. >> or by him. the overall thrust of what the president was saying is we're out. we've written our last check, so maybe defense stocks aren't going to go up if. this is not going to be, although european defense stocks have been very strong. >> yeah. >> and as someone spent two years in. >> russia, i can tell you there's american ceos. >> that don't. >> want to have any part of doing business. >> in russia because they don't. >> want any. >> part of doing business. >> in russia. and i think. there's a lot to unpack here. and i do think. >> as we went into.

>> 24, again, this is 25 is the year we're 24 maybe is unfolding, i think. and that includes less mag seven than the market expected and some of that transformation. but i think the geopolitical theater. whatever we're calling today was theater. but there's a lot of geopolitical. >> trouble spots. >> europe's going to dig in around this. and again, i spent a lot of time focused on this issue. nato and support of nato is a very big deal across europe, which means that the headlines out of europe, and we just saw some and read a couple of them, aren't going to get better. i think they're going to get worse, get it back to the market. we came into this moment, this low point in the day where the s&p rallied 2% off of that low to close the day at really a low point for, i would say over six months for where markets have been really since if you think about where we came into this, where we came into a lot of the nvidia numbers yesterday and the market's digestion of them, and you can make an argument that this was a really bullish response. and again, i get back to that deep sea low. and if you look at nvidia you know it basically rallied right off of that. so did the sm i'm not saying that that is sustainable. i'm telling you that if you were looking for

support and support being held, that's the q's almost touching the 200, sniffing there and bouncing there. this isn't awful and sentiment is about as bad as it gets. and i'll say one more thing about valuations for some of these big multi-cap mega caps. you know, if and in fact, i was just talking to one of the smarter hedge fund guys i know who who i think had a great call on this 16 times on google right here. i mean, i don't really care. and that's a place where i think you really have to pay attention to what some of these stocks have done. >> i mean, the reality too, though, is, i mean, as much as you may not want to talk too much about it, the market inherently is kind of amoral about these things, right? yeah. the market doesn't want a just peace. it wants peace, right? it wants kind of the distraction out of the way. i mean, i'm not saying the market jumped to that point, but. >> right now the market likes certainty. it almost doesn't matter what the certainty is. right. if tariffs this is their x and that's it. we know they're x amount. then they adjust around it. >> yeah. well there is a little more going on than just the geopolitical scene. all this happening as wall street digests the latest core pce figures. the

fed's preferred inflation gauge increased by 3/10 of a percent month over month in january. that was in line with estimates. but just last hour, chicago fed president austan goolsbee told our steve liesman that inflation is still higher than they'd like it to be. steve joins us now with all the headlines, and steve also plenty else to talk about within that personal spending data and atlanta fed gdp. now what do you want to start. yeah. >> well you know goolsbee sort of addressed all of it. he did say there's more work to do on inflation, but he likes what he saw when it came to the inflation numbers. you know, he said this shows we're still one on the path back to 2%. we've had a couple of good ones in a row. he's been kind of a dove on inflation. and the numbers have kind of been breaking his way down to that 2.5% range. still above target but headed in the right direction. that's the first thing. the second thing is he did take note of those, you know, weaker consumer sentiment numbers, consumer spending numbers. it was -0.5% when it came to real consumer spending this morning. he said, look, it's one month's worth of data,

but it's definitely, quote, worth keeping an eye on. when it came to that. he also talked about tariffs. he said, look, normally we look through these tariffs. but you know what. it's a little more complicated than that. here's what he said right. >> tariffs are a one time cost shock. that monetary policy should mostly look through. but i don't think it's going to be that easy to figure out which part. if you started to see inflation going up, which part is the part you're supposed to ignore. >> yeah that's the problem. is which part do you ignore? of course the market, mike, as you know, is looking for two cuts this year. maybe those tariffs kind of interrupt that timing of say a june and a september cut. >> steve when you look at it austin has has been more dovish as you mentioned. he's been a more dovish person through through that prism. but when you look at the pce how much did weather have an influence over this and how much was it really weighted to autos. because autos seasonally this is usually a weaker time for auto. so we have

the weather, we have autos. is this something we should take as a one off or is this a trend. >> well, i think the weather was something that might have affected the spending numbers. i think that's what you're asking about or that's what you're implying. and yet it might have had a big effect. jan kniffen, one of our retail analysts here, did write me a note that said it was all weather. i'm a little bit not ready to go there because, as you know, those sentiment numbers went down as well. and people i think you guys were talking about the confusion from policy. i think that's permeating the public a bit here when it comes to, you know, whether or not they feel confident in the future. a lot of balls in the air, a lot of balls in the air when it comes to what the federal government is going to do, what kind of spending there's going to be, what benefits are going to be. and also employment is some of the surveys we've seen of consumers have also shown confidence in in finding a new job as gone down as well. so i would i would be careful with it. the atlanta fed mike mentioned before, i would put that to the side that was heavily influenced by a huge

surge in imports we got in january. i'm betting tim seymour took note of that, and that ended up taking 3.7 percentage points off the atlanta fed number. so they got down to -1.5%. other economists i'm looking for are still looking for a slowdown in growth, but more in the, say, 1 to 1.5% positive place. >> steve, i love how you know exactly what i'm thinking, especially during those moments. by the way, steve and i overlapped in russia back in the day. i'd love to talk to you about russia, but maybe we should save that for another venue. i, i want to ask you about jobless claims this week. this was the week we cared about jobless claims when they spiked 24%. it's a very volatile series, but it seems in the context of data more broadly that wasn't supportive to the. and you add in some some spending and some consumption numbers. are you worried about this number? did the market overreact to jobless claims? >> i'm going to take austin's language on that. i'm keeping an eye on it. look, 240 is the higher end of the range, but if you go back, it's still pretty

low. okay. you used to go start worrying about when like 280, 300. we're not there yet. it's definitely been up from 200 to 240 since the beginning of the year. it's worth watching. you're going to see some of the not federal layoffs. federal layoffs are counted in a different index. those are up only a little bit year over year. that will probably start to rise, but it won't. in fact, the jobless claims numbers, the jobless claims numbers could be affected by private federal contractors, other people who are not working for the federal government that lose work because of less federal spendin. worth watching that these tariffs have me more worried than perhaps the street is about them. i think that there's potential negative. these are much bigger than they were in 2018, much more widespread. they really hit it two of our most important trading partners. so i think there's a potential negative economic outcome from them, which a lot of people on the street are also forecasting. >> yeah, certainly if it happens full blast as threatened on

time. >> and mike, i'm sorry, just one more thing to follow up with what tim is saying. yeah, that whole surge in imports was probably front running the tariffs. yeah. and there might have been some consumer spending in the fourth quarter that front ran those tariffs as well. >> yeah. there definitely is a little bit of a potential there for some some catch up across a few fronts steve thank you very much. so karen i mean look the bond market based on what it's done recently isn't too concerned about inflation by the looks of it. you have the two year yield under 3.99 at the close. and they're seemingly wondering if we're more vulnerable on the growth side. >> yeah i think so. and also the this pce number being just in line, i mean, anything above that even the tiniest bit would have really, i think been bad because, you know, the fed is already on sort of neutrally with let's wait, wait, wait. now they this gives them a little more flexibility than they had. the market likes that. >> yeah, it does for sure. it seems like we'll get a lot more jobs number next week. so we're going to fill in some of the blanks coming up a disastrous

month for homebuilders in the books. but can this group lay a foundation for a spring comeback. we have a debate that next. and we're rolling out the red carpet for the oscars. film's biggest night could have major implications for the magic kingdom. that's right. after this. >> you're watching fast money here on cnbc. we'll be right back. >> in a world of uncertainty and disruption, how will your investments stay resilient? we've been navigating change for 125 years, always looking forward, anticipating risks and trusted to manage over $1 trillion in assets worldwide. solving for the needs of investors today and tomorrow. investors today and tomorrow. that's the power of nuveen.

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qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventry direct com to find out if your policy qualifies. or call one 800 514 7800. coventry direct redefining insurance. >> welcome back to fast money home building stocks closing out a rough month. down 6.5% in february and a far underperforming the broader market. the weakness coming amid a slew of disappointing data for the housing market. pending home sales falling more than 4% in january to the lowest level on record. and new home sales fell greater than expected 10% month to month. so will this trade be on shaky foundation through the spring? steve, on the other hand, what's gone on with rates? 30 year mortgages i think are down below six and three quarters again. >> if you look at. >> historically. >> we all remember on this desk, with the exception of courtney, what what mortgage rates. what normal mortgage rates were and what they were. i don't know what they should be, but i know that. >> i forget a lot. >> by the way. >> you do forget a lot. so you never forget a lot. >> yeah. so. so when you look at them now, it seems like you don't want. >> to touch these. >> and you need that 30 year mortgage to come down. but when you when you think about it, people own a mortgage. they don't own a house. so you can't move. it's going. >> to cost. >> you twice as much to get out of your house. so i think people. will lift, lift a leg and say i'll sell something if i can re finance on something

else. but that mortgage rate has to come down below six for it to get attractive. and right now you're seeing it stagnate. and there's only so much the homebuilders can do to add incentives and to buy down that mortgage rate. so i don't think we're there yet. i think to your point, when you introed it, maybe the spring is the time where we see a resurrection of that of the home. >> yeah, you see more things listed, but also more things pulled off the market. what is the number? 60% of homes with a mortgage? >> i think it's under 4%. yeah. >> for now. >> yeah for now. but hopefully that that's aging. >> we're burning. >> through that right. those people do need to. eventually you have to move. and i think that yeah terrible terrible for the month for homebuilders. but that 30 year coming down as much as it had maybe it's not quite enough. but some people are going to just have to go with that anyway. so i actually am optimistic on the space. >> i mean, courtney, obviously the stocks have taken a hit. so if in fact things are going to pick up, the market's giving you a little bit of an opportunity. but how does that fit into maybe the broader consumer trade as well. >> yeah. and i think the bigger picture here, there's been this huge supply and demand constraint when it comes to housing that is not getting fixed. and first of all, my generation is so sick of all the baby boomers telling us like, oh, when we bought like there are memes about. >> i can't hear so good out of this year. >> by the way, jenny, i'm gen x. so the baby boomers. >> all. >> you. >> know boomer here. i'm not. >> i'm not a. >> baby boomer either. so you know. >> but really what you know, what is happening is as these rates are higher, it's everybody who does have those mortgages, which you point out that are less than 4% is not putting their house on the market. but i think you're starting to see people are waiting for rates to

come down. they can't wait forever. like at a certain point you're going to start to see those going on, go back on. you're going to start to see people who are getting to places in their lives where they are going to start to buy the houses. but i do think higher rates probably actually benefit your homebuilders, because they can give you those incentives. as rates go down, you're probably going to see more current homes go back on the market. so february actually tends to be a pretty bad month for the housing stocks. it's been a particularly bad month. i say that i think the sentiment is probably oversold. so i think if anything i'm with karen here, i'd probably take advantage of it as an opportunity. >> all right. well there's a lot more fast to come. here is what's coming up next. >> we're rolling out the red carpet for netflix, disney and more as the biggest names in entertainment duke it out at the oscars. the stakes for these stocks ahead of hollywood's big night. plus, bitcoin goes bust. the cryptocurrency hitting its lowest level since november. but our next guest says this market is healthier than ever in spite of the volatility. the next phase of the crypto craze. next. you're watching fast money. live

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this year's academy awards. and it will be a make or break moment, not only for the nominees, but the studios behind them. our julia boorstin joins us now live from the red carpet for that story. hi, julia. >> hi, mike. >> that's right. the red carpet. >> it is covered with white plastic. but this is the red carpet. and mike, the stakes are high for theaters as well as the studios as they work to lure audiences back to the box office. and the bar is high. with ticket prices nearly 26% more expensive than they were before the pandemic back in 2019, and theatrical releases are now available at home after just a 30 day window after the release in theaters. that's down from a three month window before the pandemic. but the box office does have some tailwinds this year. the number of wide release films will increase 17% from last year to 110, though that is still ten fewer than 2019 and bolstered by superheroes jurassic world and avatar, this year's box office is projected to grow 9% from last year to

$9.5 billion, though that is still well below the $11 billion at the box office brought in in 2019. and the academy, which runs the oscars, is doing its part this year, requiring an expanded theatrical release to qualify for best picture. >> we did. >> increase our theatrical eligibility requirements. >> for best. >> picture about 18. months ago. >> that was. >> done to encourage. >> more markets to have a theatrical window, and that's. >> been very successful. >> so we'll have to see which studio walks away with the most awards. cnbc sister company universal pictures has 25 nominations in total, including ten for wicked. but the film with the most nominations this year is netflix's amelia perez. mike. >> yes, julie as netflix, i guess, still looks for its first best picture win. it's got some some nominees. julie appreciate that. so tim on disney i mean

are we there was a mantra that was the industry had to survive until 2025 because you had the strikes and all the disruption. now they have a full slate. is that going to filter into the entertainment stocks? >> i think so. and disney you know if you look through their ten their 10-k their 10-q, they had a dynamic where you could see that theatrical distribution was up two and a half times from where it was. so in other words, you are getting that that improvement over the strike year. the dynamics for the stock have also been driven by real profitability in their dtc business, that the dtc ad revenue is up 16% year over year. if you look at the stock at around 115, that's a pretty interesting breakout level. so i believe that the risk reward is to the upside, even though i think disney was it was bizarre how detailed they gave a five year plan on most recently and something that the market loved. but at some point you have to be held to that. >> you know, i mentioned that, you know net. oh, sorry, we got some breaking news down in dc with eamon javers. eamon. >> yeah. mike, the president of

the united states, just talking to reporters here a couple of minutes ago on his way out the door to the helicopter to catch a ride to florida this evening. we are expecting to see that tape here momentarily. but the president saying that vladimir zelensky needs to want to make peace in order for the white house to restart talks with the ukrainians. we'll wait and see exactly what he said on that tape. this is event that happened just a few moments ago in the white house. press pool is queuing it up right now to play it back for us. mike. we'll see that in a couple of seconds. >> right. and he did, of course, you know, put out something on social media earlier essentially saying that to, i guess the definition of, you know, of what it would mean for zelensky to want peace in the estimation of the administration is unknown. >> yeah, that's the big question here. and the other big question is what was it exactly that set this meeting on the wrong track? you know, what was the comment that the white house felt was disrespectful? i was just talking with the white house press secretary in her office a couple of moments ago asking

about that, and she said, you know, more than a comment. it was actually zelensky's body language. the president felt that he was rolling his eyes, that he was folding his arms, that he was being skeptical of what the president was saying. a lot of that body language, apparently, is what offended president trump during the course of that meeting, and led to the level of tension and the level of emotion getting higher and higher. so more so than even what zelensky was saying specifically, it was the vibes that they were getting from him that really started this thing down the wrong path. >> well, yeah. and i do think some of some of that tape, perhaps of some of the body language was was making the rounds as well. eamon and i do think we, we do have this tape from the president. >> thank you. >> very much. so i just want to say we're going down to florida. we have a big event tomorrow night. big maga event, make america great again. and it's setting records and otherwise

they'd rather be right now at the white house. so we're doing the big event tomorrow night. we had some big news this week, as you know, because apple is investing $500 billion. think of that. and that's going to be a lot. it's going to be a tremendous investment i guess the biggest investment anybody's ever made in the country at one time. but they're going to be investing a lot of money. 500 billion. we have many other companies have just announced they're coming in. a lot of it's because of how we're doing. we've done a great turnaround in a little more than 30 days. but the country is really doing well, really doing well. we're respected again all over the world. if you look, we had the japanese prime minister, we had the prime minister yesterday of uk, as you know, we had the prime minister of india. we have another 20 prime ministers and presidents wanting to come. and very good, very good feeling. i think our country is really

turned around. we had a meeting today, as you know, with president zelensky, and i would say it didn't work out exactly great from his standpoint. i think he very much overplayed his hand. we're looking for peace. we're not looking for somebody that's going to sign up a strong power and then not make peace because they feel emboldened. and that's what i saw happening. i'm looking for peace. we're not looking to go into a ten year war and play games. we want peace. and it was just my impression that if we do that, if we sign up, he's looking for something that i'm not looking for. he's looking to go on and fight, fight, fight. we're looking to end the death. 2000 people died this week. soldiers more than that. but 2000 approximately. people died this week. young ukrainians and russians. and somebody would say, why do you care about ukraine and russian soldiers? i

care about them. care about everybody. and we're not doing that now. if we don't do anything, he's going to have to make peace. but he's dealing with a very weak set of cards. if we sign he's dealing with very strong set of cards, and then he doesn't want to make peace. so that's where we are. it's very simple. i'm not looking to get into anything protracted. i want immediate peace. president putin is going to want to make and he wants to make. he wants to end it. and you saw what i saw today. this is a man that wants to get us signed up and keep fighting. and we're not doing that, not for this country. so we're sending a lot of records economically. we're setting records, and i think every day we're setting records. one of the best is the right track, wrong track. you saw that we're on the right track for the first time in over 27 years. people are impressed with that. the other thing is

the feeling about our country. the feeling is great. it's up 48% on feeling on business. and that's the record we've never had. there's never been a record where we've ever gone up that much in such a short period of time. so we're doing really well. and i guess some of you are coming with us. and if you are, i hope you're going to have a good flight. >> we'll see what the. >> president has done with your. >> brother. >> what. >> he's got. >> he's got to say, i want to make peace. he doesn't have to stand there and say about putin, this, putin, that and all negative things. he's got to say, i want to make peace. i don't want to fight a war any longer. people are dying. he doesn't have the cards. just so you understand it. okay. >> i can tell you. that. >> could you tell us the. >> answer for you to come? >> i don't have to tell you that. >> go ahead.

>> i think i think you know the answer. >> to that. >> what? >> wait a minute. >> what? >> look, i don't trust or distrust anybody. i just want to get a deal done. and if the deal happens, good. but you can't embolden somebody that does not have the cards. and all of a sudden that person says, oh, well, now i can keep fighting, i can. we're not going to keep fighting. we're going to get the war done or let them go and see what happens. let them fight it out. >> step down. that's all. >> i want anybody that's going to make peace. if he's capable of making peace, which he may or may not be. but i want somebody that's going to make peace again. he doesn't have the cards. when we sign up, he's got all of the cards. that doesn't mean he can fight. he's got to stop the fighting, stop the death. he's losing hundreds of thousands of soldiers. it's time to stop the death.

>> on the white house. okay? come on. you guys want to do anything other than that? >> well, he says he wants it now. he wants to come back right now. but i can't do that. >> i need the cease fire. >> they should have an immediate cease fire. that was the other thing he didn't want to do about a cease fire. a cease fire could take place immediately. a contract. if you want to end the war, you sign up an agreement that's going to take a period of time. it takes time. i want it to end immediately. and i think if you had a cease fire, it would be a cease fire, a real one that would end it. but he doesn't want to do that. that's fine. you are better. than i want it to end immediately. i want a ceasefire now, he says, oh, i don't want a ceasefire. well, all of a sudden he's a big shot because he has the us on his side. either we're going to end it or let him fight it out. and if he fights it out, it's not going to be pretty. because

without it, without us, he doesn't win, let me. >> tell you, mr. president. >> it doesn't matter what i'm considering. i'm just telling you. you saw what i saw today. that was not a man that wanted to make peace. and i'm only interested if he wants to end the bloodshed. thank you. >> very much, everybody. >> that was president trump speaking after his meeting with ukrainian president zelensky. let's go back to eamon javers at the white house with us now. eamon, i guess the president said that zelensky wants to come back right now. but i couldn't do it. >> yeah. well, what we know is that vladimir vladimir zelensky left the white house, canceled a number of meetings that he had scheduled throughout washington, d.c, this afternoon. but he did go over to fox news channel, where he had a meeting, a meeting scheduled, an interview scheduled with the anchor there, bret baier. we're told that interview appears to have gone on, so we'll see what zelenskyy has to say after this as well.

another remarkable sort of moment from that exchange just there, mike, i'm going to have to go back and look at the transcript of what the president just said. it appeared to me that he said that among the things that he wants zelensky to do is to stop saying negative things about vladimir putin. he said he says putin this putin, that he needs to want to make peace, which is a remarkable thing to ask of a wartime leader whose country has been invaded and atrocities committed on his soil and is fighting for the existence of his country, to not say negative comments about the leader of the country that's doing that to you. i don't know how zelensky can respond to those terms. you know, clearly zelensky is going to want to, you know, repair this relationship in some way if he can. what trump is doing here is setting the bar very, very high for zelensky to do that. and we'll see what happens. >> yeah, for sure. and you know, zelensky, among the things he managed to get out in that meeting was you know putin didn't didn't honor the prior ceasefire and such. so it would

be a pretty pretty tall order. ayman, thank you very much. you bet. steve. you know, president trump, one of the patterns you can see going back several years is he likes to preserve leverage wherever possible. kick the tariff deadline down the road. i still have leverage. in this case he's trying to really, i guess maximize that. we'll see where that goes. >> well, when you heard what he said, it's obvious, right? so he had that distance where he created that leverage, where he said, without us, you can't win. without us. you need a deal. so he's pushing that deal. in his mind, he's got all the leverage. and by the way, he does have all the leverage. he's just making sure that zelensky understands that. >> as well. yeah. well it's interesting given given that, you know, europe had a lot to say about how they're still. what about putin's leverage? >> i mean, what leverage does putin have? i mean, you know, this is a one sided conversation that's being discussed without the other side. >> yeah. no. it's true. whatever. whatever the war cost the united states, arguably putin is what cost us that, right. so all right coming up

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>> welcome back to fast money bitcoin climbing back clawing its way back after dipping overnight below the $80,000 level for the first time in three months. the cryptocurrency is on pace for its worst month since june of 2022. bitwise ceo hunter horsley joins us on set. for more on what's going on in this market. hunter, good to see you. on one level, i guess you could draw a picture of the ultimate sell the news because bitcoin fans have gotten every single thing they could have wanted and said was part of the bull case 4 or 5 months ago. and now it's like, what's next to look forward to? >> you know, i think. >> bitcoin is. >> famous for volatility. >> and yet. >> when it experiences volatility people are surprised. q1 has been the best moment for investors to put money into bitcoin. and we've seen that with our client base. i think we've seen more traditional investors, wealth managers, asset managers, banks engaging with bitwise, the bitwise bitcoin etf and the asset class. in the first quarter of this year amidst the price action. so

i think price is always a story in this space. if you remember back to when the bitcoin etf launched went from 46,000 to 39,000. and people said okay, maybe it was a buy the rumor, sell the news story. and then it worked its way back up to where where it was more recently. so i think it's there's never been a better time for this asset class. >> you say it's always about price, but isn't that because there isn't much more to it than price at this point? >> you know, price is the most prominent feature, of course, and it's what bitcoin is famous for. it's the reason that we always have something, you know, something noteworthy going on the volatility the price. but i think the story right now is regulation. it's the most obvious thing. it's a sea change. since the inauguration. the white house, the congress and the sec have have flipped to a constructive level. that has never been true before. >> so one of the things, first of all, thanks for being here. one of the things that drove a lot of, i think the sentiment around bitcoin was the idea of some sort of potential for reserve currency or some us

build up of reserves of bitcoin. and i haven't heard anything about that in a while. where does that stand? where did it ever really stand? >> it is definitely in play. so it's one of the items to evaluate. that was in trump's executive order shortly after he was inaugurated. it's one of the items on treasury's agenda. and then senator lummis is working on a bill around that. she's actually having a gathering on march 11th where a bunch of myself and a number of other ceos will be in dc to discuss the initiative. you saw more recently, abu dhabi announcing that they bought bitcoin and sovereign wealth fund about half $1 billion. and so there's now about 11 nations that have exposure. so believe it or not, it's very real. and i think that that's one of the remarkable things about this moment is it's almost hard to imagine washington dc being positive on bitcoin and crypto. but we're seeing that from the sec throwing out enforcement cases against coinbase and uniswap just in the last two weeks. we're seeing that in the sec and in so many places.

>> yeah, that's exactly what i mean by in terms of everything people wanted is in place. we'll see where it can go from here. hunter, thanks a lot. steve. one thing about the fact, for example, the sec comes out and says meme coins are fine. you know, they're not securities. have fun. buy at your own risk. does that drain demand away from bitcoin or is there a concern about that? it's a free for all and we're going to just be launching coins. >> i definitely think it's a distraction to a certain point for the people who are buying it. but the people who are buying bitcoin are buying it for the long term. so just as karen asked the question, one hunter answered it. we went from enforcement to a regulatory environment. now you're possibly going to have corporations buying it, central banks buying it. so limited supply. you nailed that. i think it's up from here. but it's extremely volatile by its nature. and you have to have a steel stomach for this. >> courtney, what would you what are you telling your clients about? whether it deserves an allocation and how to think about what purpose it might serve.

>> and this is something we have not had an allocation to because to your point, like price is all that there is to it, right? if somebody is not willing to buy it for 100,000, for me, it's not going to go there. right. and so i think that's really the problem. and at this point, a lot of the optimism is based on the trump trade and the fact that there should be some regulation that goes in, but maybe that's priced in. it peaked on inauguration day. if that's not going to come in, you know, it might not come to fruition. so this is a very volatile asset class. i really see it as, you know, kind of invest in your risk. this is something i have on the side, not part of my overall investment philosophy, but it's something i stay away from and continue to. >> all right. you have a lot of downside targets down to like 70,000. and i guess we got that bounce today. maybe the garden. variety volatility though a little bit. no for sure. no nothing nothing extraordinary there. all right. coming up traders share their charts of the month. why someone on the desk thinks this highflying global bank still looks interesting at these levels. more fast money into. >> in a world of uncertainty and disruption. how will your

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>> welcome back to fast money as we wrap up a volatile february. we're asking each of the traders to give us their charts of the month. one name, good or bad, that they think is telling the story of the market right now. so, karen, kick us off. >> yeah. so for me, it was the ten year. and i think, you know i've been short the ten year. it

started the month over four and a half. i remember we had andy constant on talking about a potential slowdown. and this was before that seemed to take place. and the idea now that, you know, the ten year, where did it go up for 20. so i mean that does portend the slowdown i think that just flowed through into the markets. and the idea of, well, we're going gangbusters has actually taken a back seat now. so that to me is the most important thing. i hope that's not what continues, but it's certainly what's happened. >> yeah, we might be just short of that panic level, like where we were back in the fall in terms of what the bond market's saying. but yeah, hopefully we don't get there again tim what do you got. so banks we've talked. >> about have pulled back here a little bit lately. but we also just talked about the outperformance of europe. and if you look at what's going on in european money center banks, santander, which is $100 billion bank, which is, you know, essentially domiciled in spain but has huge business across europe and in latin america. i mean, this is i know it's hard to believe, but it's a bulletproof balance sheet. and this trade is 30% cheap to citibank with a higher div. and so this outperformance, this is

a core name in idaho which is the international etf i manage. i think these banks have more to go. and again deregulation in europe i think may be a more powerful story than it is here. >> european banks have been just no quit in them. >> yeah. >> so that's been one of the better global cyclical indicators at least. courtney. >> yeah alibaba was one that i was looking at which really has outperformed the general markets clearly over the last month. and i think when you look underlying, you look at their e-commerce business was actually a lot stronger than people expected. so i think the read through you want to see is, is the chinese consumer actually holding in better than people had feared? and this is another one. we've talked a lot about the us versus foreign assets. i think you want to get there before there's certainty. i think you want to read through and see that there might actually be some opportunity. >> there, flying on some ai excitement as well. of course, steve. >> i think gold has been interesting. gold used to be a safe haven or thought to be a safe haven, and it trades like a risk asset now. so coming out of if you really want to go back coming out of the pandemic it started to trade with the s&p. so i would watch gold because

now it's trading with bitcoin. it's trading with the equity markets. so if you start to see this come back you could probably see the market. >> lot of synchronicity all liquidity trade. all right thanks very much. up next going thanks very much. up next going to get your gold bond believes touch says everything. it says... i got you. and i'm never letting go. ever. gold bond. get in touch with irresistibly touchable skin. ♪ empower ♪ so handsome. oh, i can't buy this. hang on there. actually, you can. your empower investment account has performed well. and this whole off-white-ish cantaloupe thingy is really working for you. so... so...? so... (♪♪) hot to trot! nobody says that, what? get good at money. so you can be a little bad. empower.

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and ai helps jim solve customer problems before they're problems. oh. so we all work better, together! my work here is done. excuse me, which way back? path for those who want to join the new industrial revolution that he has helped create. i hope it matters. >> mad money next cnbc. >> it is time for the final trade. let's go around the horn ten silk. >> great having you today. always a smart conversation. santander i think this has room to run discount. >> oh you sandpaper okay. >> i like it. a couple of weeks ago before earnings i said sell some zillow upside calls. now i want to buy them back. >> all right. >> courtney va is the vanguard international etf. we've talked a lot about this i would still stay long international here i think it's worth an opportunity. >> all right steve. >> do you think the materials.

>> the rare earth. >> materials gets done with ukraine? >> something probably gets done. also, even if it gets done, it's all in the future. i don't know. mp materials. >> that's where i'm long. i think it's being affected by this order. >> okay. and so you'd rather have the scarcity value for mp. thank you guys. thanks for having. >> me here. >> it was great a lot of fun. have everybody have a great weekend. mad money with jim cramer. >> 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. do you want to make friends? i'm just trying to make you a little money. my job is not just to entertain, but to put it all in context. so call me at one 800 743 cnbc or tweet me jimcramer. i am constantly on this show telling you that discipline always trumps conviction. i tell it to you over and over and over again. in other words no matter how much you may love a