some we now see the total recovered funds hitting above ten billion dollars chinese retail giant ali baba plants a flag in new territory it's knapped up over an eighty percent stake in a growing internet retailer focused on southeast asia and my guest says federal reserve chair janet yellen is way off the mark in a speech delivered in london she said another financial crash like the one two thousand and eight won't happen in her lifetime or beyond stand by the bust starts right now. deutsche bank went out on an inflation limb which put it on track to lose up to sixty million dollars the issue at stake is whether traders went around the risk limits on derivatives trades which were tied to u.s. inflation this of course calls into question the quality of the which is risk controls which have already drawn scorn worldwide let's go back to short months to what the federal reserve find to your bank for not keeping its traders in line with the volcker rule which restricts lenders from using their funds to make speculative trades those close to this matter say the sixty million in losses because

so i doubled up on my ali baba position. to time it, first of all, that was lucky to buy it a couple days before it pops. to now thread the needle with a mark sell-off like the worst is almost unrealistic. >> they need to surf the wave. i'm not sure is something below. >> you sell something. so what do you sell? i think either you sell large cam or iwbm. >> whatever stock you want to pull out of the hat here, would you buy it on that dip? apple shares, would you buy it 3.5% lower? that's the question. >> it's 3.5,. we've had a tremendous run of these things. naturally you think you will have one more of a correction. it takes a couple days, maybe a week. it's in basketball right, you never go for the first shot. you never get tricked by that. >> the name square, this is a company to me was a part of this life in the tech sector. these guys had a multi-faceted business model. the name on long. you see it pull back 10%. it makes you say, hey, should it have gone in the two-and-a-half mont months. without the defense, growth wa

that giant of asian online retail ali baba is said to invest one billion dollars in e-commerce company atlas ata the value of the deal between the chinese e-commerce leader with the think of poor pay startup is around three point one five billion dollars it was not a group operate sites in southeast asian countries such as indonesia malaysia the philippines singapore and thailand this will speed up ali baba's future drive into the asian market taking its stake in lives out of from fifty one percent all the way up to eighty the takeover of e-commerce from brick and mortar to stores online has a lot on payments infrastructure and transport of good. which lays out a relatively lax this particular geographic location is among the fastest growing of this internet sector e-commerce preferences for shoppers is only around three percent currently but at six hundred thousand inhabitants are warming to that idea control of this fast growing startup which is basically a gateway to south southeast asian expansion makes it ali baba's largest overseas move to date. and it's a feud over memory japane

shares of ali baba 13% the benefit day ever after they said the revenue could grow as much as 14% in8th. investors are piling in to see the stocks, some of coin tech stocks have given that group a run for their money. it rallied this year alone, ali baba is up 62% so far, buy view behind the chinese counterparts have rallied lean% in 2017. we live in an acronym 140 character world. we are calling those stocks the stab stocks. they're trying to take a stab at the stocks we're calling stab. >> if they under perform relative, ali baba relative to those results the guidance is breast taking. it has been under the radar relative to the ones here. it's interesting when you think of the things pfizer is doing, under performing let's say ali baba, obviously the dominant search player if china. they're making big, big news in ai and things that will pay off in the longer term. that one seems interesting. it's been very range bounds for a year. it didn't trade particularly well today. >> we're always talking how this crowd is. i bet amongst the u.s. actively funded managers, they're not crowd

. >> ali baba, it's a back future trade. if you missed out on amazon, this is your second craft right here. people don't like valuation, get a second bite at the apple. ali baba. >> nike reports in a couple days. this has been down in the dumps, starbucks, an all time high, similar sort of makeup. >> thanks for a great two days. enjoy that coming up next. >> that does it for us here on "fast money". catch us back here on monday at 5:00 p.m. eastern. don't move yet, "options action," that's right, starts right after the break. cold ref. it's what busch is known for. what are you known for? oversharing. in fact, i have this thing. nope. nope. [sfx: buschhhhh] [ music playing ] >> hey, we are live at the nasdaq site. while they're doing that, here's what's coming up in the show. >> biotech stocks surged this week. we'll explain. would you like to protect shares of apple for little to no costs? >> how did i live without this. >> i don't know, tim. we'll teach you how and -- ♪ >> hammering energy stocks and now options traders wi

start—ups worth over $10 billion — such as ali baba's ant financial, smartphone—maker xiaomi and tencent of china's premier li keqiang told the meeting in dalian about globalisation. globalisation is changing our world with an unprecedented speed, rats and depth. it has provided limitless opportunities for all economies. but if inadequate measures are taken, it may lack inclusive growth. in other words, it will create a problem of venice —— growth. some people will benefit more than other groups, and traditional industries and jobs may feel the impact. with me is linda yueh, who is professor of economics at the london business school. let's start ith that issue of fairness, in a country with such a huge population, how can china ensure that all of it's population benefit equally from globalisation? in some ways, china has already managed globalisation somewhat better than other countries. china is on the cusp of eradicating extreme poverty. it means that there could be, less than 3% who live on a dollar 95 per day. so, in absolute terms, growth in china is already more inclusive. but the

some we now see is a total recovered funds hitting above ten billion dollars chinese retail giant ali baba plants a flag in new territory it's knapped up over an eighty percent stake in a growing internet retailer focused on southeast asia and my guest says federal reserve chair janet yellen is way off the mark in a speech delivered in london she said another financial crash like the one in two thousand and eight won't happen in her lifetime or beyond stand by boom bust starts right now. deutsche bank went out on an inflation limb which put it on track to lose up to sixty million dollars the issue at stake is whether traders went around the risk limits on derivatives trades which were tied to u.s. inflation this of course calls into question the quality of the which is risk controls which have already drawn scorn worldwide let's go back to short months to what the federal reserve find to your bank for not keeping its traders in line with the volcker rule which restricts lenders from using their funds to make speculative trades those close to this matter say the sixty million in losses beca

start—ups worth over $10 billion — such as ali baba's ant financial, ride—sharing giant didi chuxing,encent music. we'll be discussing china's future in about 20 minutes. and another story we've got — believe it or not, it's 50 years ago today that the world's first cash machine was put into action. the public first got to take money out of a hole in the wall at the branch of barclays bank in enfield in north london. now, there are an estmiated three million of the machines worldwide, but in an age where we're increasingly using other devices such as our phones, watches or even bitcoins to pay for the stuff we buy, some are questioning if the atm's days are limited. time for a look at the markets. by migratory rose today, but then fell again. the british government says that testing carried out as a result of the grenfell tower fire has found that 75 buildings failed safety tests. the company that makes the product has now stopped selling it globally. this man is staying put, despite a mass evacuation. that is despite a mass evacuation. that is despite him being told today that all of

ali baba has 20 billion in groceries they ship. >> they're trying to impress the chinese platform, howchina. there's some questions about some of the agricultural products what if you're a u.s. farmer >> i don't know if it's going to be that big. >> why are they going to detroit, david >> i don't know. i don't know >> okay. >> we got a dow record high. >> there you go. >> apple's up nearly 2%. we'll watch that let get to bob pisani on the floor. >> good morning. we have a record high here and a high in europe europe is still ongoing. hong kong is right near a 52-week high, germany at an historic high. macron is trying to to get france to think more like a startup. sectors leading today. being j which are a lagger group recently have been reinserting themselves industrials, health care, lagging. telecom is lagging these have been problems rotation has been the story. today tech is leading a little bit but so far the last week and a half, the story have opinion rotating into banks, small caps, and transports big technical is up today. note the names we talk about all day long, apple, net

. >> quick ali baba, buy it. >> hughes. >> aggressive show aggressive show. >> you see the stealth rallyn target there, cysta i know you do >> i'm melissa lee, thanks for watching see you back here tomorrow at 5:00 meantime, don't "fast money. in the meantime, "mad money" with jim cramer starts right now. >>> my mission is simple to make you money. 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 my job is not just to entertain you but to educate and teach you, so call me at 1-800-747 cnbc or tweet me @jim cramer if you own stocks that make utmost of the stock market you want

still technically exist, but mostly as a holding company for its stake in chinese e-commerce giant ali-babas all this was announced...yahoo c-e-o marissa mayer announced her resignation.she'll step down with nearly 260 million dollars in stock and severance pay. she owned about 4-point-5 million shares of the company... she wasn't even there that long -- since 2012. verizon is now expected to cut as many as 21-hundred employees from the combined venture.pam and steve? let's take a look outside right now for the current conditions in the bay area... chief meteorologist brittney shipp joins us now with the forecast. building high pressure will bring a robust warming trend and hottemperatures to inland communities friday through sunday after aprolonged stretch of unseasonably cool temperatures. saturday is anticipated to be the warmest day of the next several, with sometriple digit temperatures and locations up to 20 degrees abovenormal. these increasing temperatures may increase heat relatedillnesses for the young, elderly, or other sensitive groups,especially those exposed to prolonged outdo

it will insist of cash and ali baba. it will make yahoo a good tail for tack cuts.akes down at a low cost. >> it's got to be phosphating to see how that plays out. >> you will often have to strak the spread. >> and the volatility in the stock depending on what they end up doing or not doing. >> i was getting kicked out. they are buying back the stock to soak up that supply. >> a lot of financial engineering going on. >> have a good evening. >> thank you, pleasure. >> yes, we we heard all the tweets yes like it's 1989 all over again back towing again. we'll be on "nightly business report" tonight as well. >> that does it for closing bell. "fast money" begins right now. >> "fast money" starts right now with breaking news. we are all over the two big stories at this moment t. polls closing for the uk election just now and former fbi director james comey with explosive testimony on capitol hill earlier today. eamon javers has the latest on that. wonderful bur ross is in london with the very first poll results. >> reporter: wow, this is getting the numbers in, 314 for co