i think you can say that jonas killed gm. honestly if you're going to call the peak, i would like to see more rigor behind the analysis. i think it is a mistake to call a peak for any automaker if the fed lowers interest rates, which matter so much for an automobile. gm reported fantastic numbers and thanks to one analyst report, i almost said good analyst, but i respect him too much. one analyst report. you can now buy it at a great price. there are other auto people besides elon musk. i'm watching that stock go down. mary barra is the one who deserves the kudos. i looked into several. our chief scientist and research director pointed out that the stock now sells for 4.6 times the midpoint of managements forecast, making it one of the cheapest stocks on the s&p 500. that usually means it is about to rollover. of course there is another reason i feel comfortable recommending gm. this company has been buying back its own stock so much to the point that they had to put through another $6 billion repurchase authorization last mo

one being gm. stocks down 4% on what i thought would have been a very strong quarter and would have been reviewed as such. that doesn't seem to be the case. i want tond stand why. tesla shares are up, musk talking about using robots as soon as next year and beginning to sell them. >> he can do anything he wants. he can just say, listen, stop making parts and people will say, wow, that's fantastic. >> and mary barra can't do anything that the stock market likes. >> sells at five times earnings. >> five years' worth of earnings. market cap of -- they have a decent amount of debt? i'm thinking of an lbo model. >> remember they went after it before they wanted to do something -- >> cut out all the loss making. it's probably a little out of most people's reach. you never know. >> i think it's wrong. i think this stock goes up over time -- >> it's the best oem stock of the year. >> they have a huge buyback. i bet mary barra is sitting there saying, sell me some, sem me some. >> it is up 32.5% for the yea

negative for gm, ford detroit.ish for tesla, that would give them a price and scale advantage. the other thing is if trump got in the white house could that fast track fsd autonomous relative to what we're seeing in terms of playing out versus china on the other hand. if you look at a harris ticket, could that be pro ev for detroit. maybe anti tesla just because it goes back to the view that musk has really been a background noise on the biden administration and trump administration. is that something that would be more front and center. that's why i'd say tesla is part of that trump trade. >> when you say you know the potential for fast tracking full self driving. is that because you feel as if the company, or the company feels as if currently, regulators are just very sk skeptical about permitting rollouts? >> the regulatory environment, if a trump white house, you maybe have less regulation. could fast track some of the fdd autonomous depending where that goes for tesla, but also speaks to what's happened with c

including gm. you have a dynamic where the autos are able to get pricing that they could get in '22. it is helping the auto makers that some of this supply has come back online even though they don't have the same products. >> tesla call kicking off in moments. we'll bring you the headlines. mus, ups closing out the worst day ever after disapoingt resu - disappointing numbers. we'll have inside the numbers after this. in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there. louis! okay everybody, that's lunch! (♪♪) mud mask? (♪♪) [inner monologue] i needed some help. good thing i knew someone... ♪♪ or... some-thing. [a.i. copilot] glad you called, j. [a.i. copilot] it's time for an upgrade. awesome. ♪♪ [inner monologue] i knew what i had to do. because they never stop.

gm, record revenues in the first half.asing reports about dealers discounting cars and trucks to move them off their lots. and then coca-cola coming in better than expected. it is confusing even if you listen to what the companies are saying. jonathan: week ahead for earnings, take a sneak peek. you'll hear from tesla and alphabet. we will hear from microsoft next week. we will hear from meta, apple, and amazon. you have to wait until august for nvidia. that is the focused at a time when many people have been entertained by this massive rally in small caps. lisa: at a certain point it comes down to the nuts and bolts of what big companies are doing. what we have heard from guest after guest is the big companies will do better regardless of what happens or who is in office or how much the fed cuts rates. if it cuts rates allots it means -- this year -- this week more than 20% of the s&p 500 will be reporting. i wonder if this is when we see the pivot away from the noise to what actually is happening. jonathan: the noise of

stay in gm, the backdrop gets better and better. >> gm. all right.ut the broadening of the market. i like the stories that tim is talking about growth versus value. look at the rst, equal weight s&p. >> all right. carter. >> slv and gld. >> i'll >>> my mission is simple, to make you money. i am here to level the playing field for all investors. there is always a bull market summer. i promise to help you find it. mad money starts now. hey, i am kramer. welcome to mad money. welcome to kramer america. if you have friends trying to make a little oney, my job is not just to entertain, but put it all in context. call me or tweet me. i'm constantly on the show telling you discipline always trumps condition

i'm long gm, i have a position in ford. i think the dynamic around profitability for ford and gm is something that we haven't seen in a long time. ford underbly trades at a discount, because it should, for the reasons that phil pointed out. this is a company that's had efficiency issues, had operational issues. seemingly tells us, forget warranty dynamics, just talking about their structure. we hear about this all the time. detroit is very profitable right now, and i think that ultimately is going to be what the dynamic is. we're not hearing about pricing issues. not necessarily hearing about demand issues. we knew they weren't making evs very profitably, so, i don't think i learned a whole lot new here. for ford, it's had a 40% move off the lows. gm's doubled that. so, that move off of october of last year. gm's the place you want to stay, but this is an overreaction in my view. >> all right. >>> coming up, we are far from done tackling all the afterhours action. chipotle, ibm, and viking therapeutics on the move. all the

gm's growing faster than the market in evs.ar over year second quarter while the industry grew at 11%. almost four times the industry growth rate. you're right. advantage to execute for gm a gas carport follow yo and ev portfolio and can definitely manage their production to meet the demand where the consumer's at. >> which is not necessarily with evs at this point. jon, talk about what the future holds, because both general motors and tesla yesterday said they're not going to be doing some things quite as quickly as we thought. with elon musk talking to tesla robe bo robotaxis not broadly manufactured and yesterday gm said it wom discontinue -- would discontinue a indefinite period of time the idea of having driverless cars, too. >> that's wrong. we're not postponing driverless. cruise is on the road with 5 million miles autonomous driving. >> not cruise. the cruise version with no steering wheel was discontinued. >> right. felt pushing a no steering wheel, no brake was further than the public wants to go. driving down costs a

watch gm, shares up 4.5%.ngst other things, higher labor costs and less demand for small package delivery services. u.p.s. cut its full-year adjusted operating margin forecast. it did, though, say that it expects some of those cost pressures to ease up in the second half of the year, but those shares are down 7.5%. we'll cap things off with a check on spotify, up near 13% pre-market. profits beat estimates, revenues were in line with expectations, and those profits were, by the way, a record level. it also gave a current quarter forecast that topped estimates as well. on balance, spotify technologies, up almost a doubling in one year, up 13, 14% so far this morning, joe. i'll send things back over to you. >> you've got a pick here, we've got the domster, we've got d dominique or dominique, and these are my favorites, the dominator. >> i'll tell you what -- >> one more! >> the dominatrix. >> i will tell you right now that as a golfer, if you get -- i get a lot of grief and laughs, because my golf bag is embroid

if you wanted to hear about great auto numbers, well, go to gm. >> no, gm was crushed yesterday in thetock market. >> adam jonas killed gm. >> even though it had strong numbers. tesla's going to be down. you're right. listen, i advise anybody who's interested in just the future to listen to these calls. now, with a great amount of skepticism, perhaps, in some of the targets and the numbers that mr. musk shares, because he does tend to be a bit overly optimistic -- >> and he said that at one point. >> he admits it in terms of when the robotaxi or when full self-driving will be ready. they're coming out with 12.5. he says that's a huge increase. but he talks about governments acting rationally, almost, saying, well, when the number of accidents by humans is clearly in excess of what full self-driving would be, everybody will just allow full self-driving. that doesn't seem to work in the real world. >> you say the federal rules. >> they'll just change. that may be a bit optimistic. >> i think you're right, david. the stock is down much more than it was when the company reported but this i

i think looking at some of the names, i'm interested to see tesla or gm are both coming out this weekat's always the big question. where are consumers with the car space, especially if rates are coming down, is that going to be a positive thing for them moving forward. especially the ev run. are people going towards evs, are they going towards the hyb hybrids, are they going towards the traditional combustion engine. it's absolutely something to watch. >> i'm going to pick the castoff, i'm going to go with u.p.s. it doesn't seem to be a popular pick around here. i would say being that we kind of saw fedex surprise massively to the upside, in terms of looking at options implied volatility, i think this is actually a name that might have a bill of a surprise out there. >> tim. >> gm is the place i'm focused. it's a big position of mine. i think the momentum is there. i think the macro around the u.s. car market, they're showing a lot of resiliency. i would make an argument that ford and gm have rallied substantially since we've got this interest rate enflexion. it's really about where t

this coming from gm. john lynch. but he did say that right now they're just hoping to get something done and hoping to have be a a part of this team this season. now, obviously, we do know they brandon aiyuk did at the request a trade in right now. they said they have no intention on trading him anywhere because they do believe that he belongs right here. kyle shanahan also giving credit to his personal relationship with brandon aiyuk and the rest of his players and have that helps this process go along. well, george kittle talked about how it's a tough go when you're in a contract year and you're in the contract offseason in having to just keep your mind steady and understand what's going on. understanding that there is a business site to this game and that's where they are right now when it comes to to take a listen. so kind of a run down. the gm john lynch was able to give us about the process so far. but britain, >> this one has been challenging. as i said, we set out, we started earlier than we have in the made

was pretty dismal, investors were trepidation is on what they were seeing from earnings, honestly gm'sarnings were decent they had better-than-expected results, they raise their guidance, arguably you thought this is going to be good but investors were not impressed i think there was concern about the ev we will have to see how that goes, tesla did not do as well obviously there earnings were lower than expected but this comes down to a little bit of razzle-dazzle from elon musk and we didn't get it there is some concerns about the robo taxi invention and everything else we will have to see how that goes. jack: were still waiting from the robo taxi the really bad news jim farley ford said it was getting control of the quality issues but $800 million spike in warranty cost. >> they had an absolute disaster of earnings, it was interesting because we did not get a signal ahead of time, it took investors a little bit by surprise, use all that and as of yesterday they were in bear markets were under territory, thursday was a disaster and i'm not sure they get to be able to recover quickly,

the environmental protection agency alleges nearly six million gm vehicles release more pollution thanm denies any wrongdoing, though a spokesperson for the national highway traffic safety administration says the company agreed to pay the fine. >>> the "wall street journal" reports the owner of department store saks fifth avenue plans to buy rival neiman marcus. after months of negotiations, the two companies' boards have agreed to the $2.65 billion deal. amazon and salesforce would also reportedly take a minority stake in the new company which will be called saks global. >>> and there are plenty of deals to be had to celebrate america's independence. krispy kreme is offering a free original glazed doughnut to those wearing red, white, and blue to participating shops. jimmy john's has a special buy one-get one deal on its new spicy firecracker wrap. kfc is giving 40% off 12 pieces of chicken. and doordash has free delivery deals on white claw seltzers and a promotion where you can also win a cooler. happy 4th. >>> that's your "money watch" report for this thursday morning. i'm shanelle

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gm knew the united states was willing to throw overboard and so what do you do about that? and so there was all kind of tension, their relationship and you can hear that play out in the tapes. so particularly these tapes from early october 1963, tapes that had become available in 1997 as a result of oliver stone's film jfk, which exorcized the american public, including congress, that it decided empanel an assassination records board to ferret out all of the information. whatever we had relating to kennedy's murder. and there still materials that were waiting for related to that but one of those those document collections were tapes themselves and so some of the first kennedy tapes on vietnam concerned this period in. early october 1963, august 1963, related to the coup. and then even late october, 1963, related to the coup that really took place. but then later, after some of these more comprehensive studies of kennedy and vietnam were written, we started to get tapes from mid-september 1963. those are the where you can hear kennedy and mcnamara, taylor and mcgeorge bundy

baseball teams the giants and the a's are making fans proud, and in basketball, the warriors gm speaks abc seven sports director larry beil. >> good morning everybody. the giants took the field last night with three games left before the all star break. forever trying to generate any kind of momentum in the first half of the season. hey, this was cool. two bay area pitchers started this game. put her in, coach. she's ready to play. she's got a glove and everything. i love that intensity. san anselmo native joe ryan, starting for the twins. giants drafted him in 2014. he did not sign with them. this was not the homecoming he hoped for. mike yastrzemski doubles and run byron buxton, lookout. that's the bank of america you just ran into. giants score three in the first two innings, ryan five and a third allows five runs. elliott ramos no home run in this game. what happened? well, he did that spectacular catch to rob carlos santana de la sal product kyle harrison approving as he wins the all bay area pitching matchup. kyle from danville. oh brett wisely three for three a home run short of

and gm's highest quarterly sales since 2020. for electric vehicle sales, gm says deliveries increased 40% over last year, with almost 22,000 vehicles sold. however, they note ev sales still only account for about 3% of total sales in that quarter. markets ended the day higher after federal reserve chair jerome powell highlighted declining u.s. inflation, but stopped short of predicting interest rate cuts. this year. the dow up 162, s&p higher 34 and the nasdaq up 149 points. we're going to be right back with the story behind a custom designed for the us women's gymnastics team and the woman behind that. stay wh us.it minneapolis. they wore custom made jackets from nike. yeah. they're beautiful. the jacket was, yeah, they're nike, but they're created by designer and former competitive gymnast sami miro. look what she did. she's from san francisco, and some remember her as zac efron's girlfriend. she's out there. she says her jacket designed is meant to capture the team qualities of strength, resilience and inspiration

did a poor job with gm, which is still amazingly cheap. shockingly cheap, actually. but i'm not.bt, so, rates going lower will help them. >> yes. product that is almost always financed. >>> when we come back, your final trades. nd to emails with phone-calls... and they don't "circle back" they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety- clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. >>> time for the final trade. let's go around the horn. steve? >> i got inspired by unh, so, i went with moh. >> karen? >> yeah, match group. i sort of thought that 13b was interesting, and they paid around here for their stock. >> katie? >> you know, i like small and mid-cap growth, and one way to express it is the cloud computing etf, clou. >> and guy? >> we do -- you know, you think we just say it, but we d

business it was a good thing because there are concerns about their ability to deliver, similar story to gmpowered vehicles are holding up well as the company has challenges with dvds. tom: you spent your career in japan, you understand automakers and nissans story. in terms of this company it missed estimates, what is nissan doing wrong? craig: it's been a mess in the wake of carlos coming down, it's been consistent when you look at them used to be the case that renault was the ugly stepchild, the alliance has fallen apart and nissan looks lost. not a great story, some issues with the lineup. you look at the infinity brand and you scratch your head at the strategy. efforts not strong, hard to find silver lining where shares reflect issues. it is across the board. tom: shares down 7%. straight talking analysis, they are a mess. greg with a wrap of earnings, thank you very much indeed. let's switch to a food producer. nestle cutting its guidance as rises in prices ease off. the world's biggest food company expects sales to grow less than 4%, let's bring in duncan fox. how challenging is this

are in the video here with a lawyer who says they have no space in great demand, just the police or gm p. and right now the main consent is what they have. they are very even traumatized by this experience. they are the family member. ready as of a saving police offices that and the crate dimensions to please. so they were hired to shop to buy what's happened. d and p says, well people have interested at the scene for a free and a soul to an emergency service walk as. but the level of pools using the arrest is now investigated by the independence police. what's still great to the monitors, to police, pull the video, truly shopping and said that the use of such force and then the rest is unusual. and then they understood wide force along, but in an obvious statement, they said that there was a clear risk of firearms being snatched from offices who were carrying weapons. but it was and got on the streets of mount just at once as the night. people here demanding more accountability from the police. and many of the community now appearing so called me that it was the need to reach out to 0

i'd rather focus on gm who i thought numbers were fantastic. that's two quarters in a row they've beaten rays. they've got a $10 billion buyback going on. they're going to -- that will charge up eps. i mean, it trades south of five times, and they are -- you know, they are in growth areas in the global automarket. the u.s. pricing right now for now is also holding up. so i recognize, you know, gm's pullback is 11% off of a massive, massive run. in fact, a chart that looks a lot like the mag 7. so i'm notthat worried about the fundamentals there. and you know, i realize there are things in the auto space that could come cyclically with the economy, but for now the u.s. market is very strong for gm. >>> comiing up, a new report shedding light on how united health, we'll sit down with one of the ahoutrs for a closer look at the insurance industry and medicare. "fast money" in two. >>> welcome back to "fast money." an in depth report published today taking aim at the nation's biggest medicaid advantage provider, united health. the first investigati

i was that gm, the paris fair, you know, they would put it in a museum so we, today -- today -- seeing pictures and reading about it, could see what they thought the future would be. if you went through the gm exhibit today, it would look a lot like today, minus the flying cars. >> fair enough. okay. now, the noncontact question. someone is curious if you used the typewriter and the rotary phone behind you? >> the typewriter, yes. it works. it is a 1926 -- rotary phone, no. it works -- having used it in years -- but yeah, the phone that father's the typewriter -- i have got a number of typewriters -- so, yeah, the phone, but the typewriter, yes. like i'm stuck in 1939, a constant historian, i use it to write letters to friends and family. so, it is functional. >> awesome. well, thank you so much. that is all the time we have for today. so, thank you to our audience for joining us and for your great questions, and thank you, alan, for another exciting and fascinating presentation. >>> weekend on c-span 2 are a feast. on sundays, "book tv," bring you the latest in nonfiction books and au

. >>> and gm ceo mary barra says they will not have the platform in place to meet the goal of evs by shares of trump media down today after closing up 30% yesterday. the parent company of truth social have retail traders betting the former president will win in november. >>> and looking at the shares of bitcoin. it is still up more than 9% in the last week. the number of crypto tracking stocks riding the bitcoin rally. coinbase and micro strategy and riot ptflaormsup up in last week alone. more "worldwide exchange" coming up after this. oh no, a rash. maybe it'll go away. awww, how am i going to find a doctor i'll actually like? is that a qr code? dr. stafford makes you feel at ease. thanks rash! you've got more options than you know. book now. when we're young, we're told anything is possible... y ...but only a few ofs us go out and prove it. witness the greatness of anna hall on a connection worthy of gold: xfinity mobile. only xfinity gives you the most powerful mobile wifi network, with speeds up to a gig in millions of locations. and right now, get up to $800 off the new galaxy

gm. um, do you like the abbreviation?that it was pink salmon plus mint. squid triangles, also, in fact, quadrangular, priced at 209 rubles. for 600 g, they turned out to be more edible, but the taste of seafood was too strong. we were pleased only with cutlets with the simplest composition of pike, but they also have a price of 535 rubles for 450 g. here you can see the texture of the minced meat, look how juicy it is, so freshwater. this is the one i would buy, i’ll even remember it. in general, you can find delicious semi-finished fish products, but you have to spend money.

a weird way if truck sales kind of i guess let's say gives ford profits the don't look as good as gm's shares in the sense that investors will think there's more upside in the second half of the year as they ramp up more f-150 sales. the problem for general motors is they had such a great second quarter and such a good first half that investors figured we are at peak now, the good times are over in the second half while it may still be healthy and strong it's all downhill from here and they sold off the shares to the tune of more than 6% down yesterday. ford has a little bit left in the tank because the f-150 rollout will gather steam in the second half as opposed to the second quarter they can see some upside. aftermarket in the tomorrow it open. katie: let's talk about gas engines we know ford has been ramping up production there and ev's, that soft ev demand has been the talk of the town. what do investors want to hear when it comes to their thinking on the eeev output and what are we likely to actually hear from the company? >> investors are looking at ev's like they are not so gre

perhaps a clue from gm's own reporting today, showing steady demand and prices in the us, not so muchina. how do you see the ev wars playing out this quarter? it seems to be price competition. the growth rate for tesla has seemingly slowed down a little bit. they are offering more incentives, they are competing, certainly with byd from a price perspective, so i think that makes it a challenge and some softening demand, certainly within china but also in the us as well. i think in general still strong, growth will continue to happen over many years, but relative to the numbers we might see this quarter, it may not be as strong as investors would like to see. how much are you — investors would like to see. how much are you still _ investors would like to see. how much are you still see _ investors would like to see. how much are you still see consumers sensitive to slightly higher prices? quite a bit. your average us consumer has been really impacted by the inflation environment we've seen in the us and it's just the prices of basic goods, food, transportation, insurance, home prices ar

ford has been a mall any sent gm.m farley saying, if we're not making money on something, we're not making it. that's what we wanted from ford, not sales, but margins, earnings. i think ford is going to give you great numbers. >> i think we're going for five straight on ford at least. >> jim farley, this is his quarter. i think they ought to do two things. i think they should sell even fewer evs and buy a lot of stock back. look at gm, mary barra, when she announced that buyback -- barra is great. all we ever do is talk about musk. >> as we should. enormous market share of the business. >> true. barra is not a ratings magnet, nor is barra. musk has a very funny -- he has good memes. he's good at the meme business. >> very talented in social media. he literally owns social media. >> literally and figuratively. >> morgan stanley, adam jonas has a note about climate. we're going to hit near 100 degrees in new york city. he thinks episodes like that will draw more attention to renewables and evs. >> i appreciate the fact

what adam jonas said, why aren't you doing a buyback, they said, we have better things to do, after gmtocks has moved up. this is the bottom five in the s&p. i thought adam jonas was a teller of truth on this call. >> he hasn't covered himself in glory in this name. >> neither have i. >> still says it's a top pick here. thanks, adam. >> i don't say that anymore. >> i've asked you many times why you own this, and you -- you kind of have a hard time explaining it, but you haven't sold it. >> no. we downgraded. am i sitting here telling you, like what i hear about everybody else who comes on air and says ai i'm early? do you see me being fine? >> no, but you've been a believer in farley, and i think that's what's kept you positive on the stock and the company, right? >> that's true. >> yeah. >> and so, what you should say is that i have been wrong. >> you've been wrong so far. >> it's okay. i've been wrong. it's all right. >> i think you've been hopeful on returns because even jonas has said that the gm performance here today might be entirely due to the buybacks. >> i don't care how it g

while people were fascinated by this, people cried during the gm exhibit. it was really overwhelming in a way. people were attracted to the technologies in that. it is still in the midst of the great depression and people complained about the price of the food so much that the ticket sales, the price was cut and then the fair had you promised later that year they would have cheaper food options available inside the fair and it would not be such a money grab, so people achieve. that seems to be -- you read the media accounts, there were complaining a lot about the price of the fair. and not to say that it was underwhelming, but partly the reason they never hit the attendance targets they had hoped is that it just did not generate the buzz that people had hoped. we will never know if that is because the war breaks out and people aren't willing, pulling back on their spending, not willing to have this fun, celebratory thing. it is hard to say. >> is funny. it has not changed much, right? we go to disney world -- >> a $50 beer at the stadium or something. >> we

we saw gm's numbers today which were great.the subsidies being removed will hurt gm and ford more than tesla. so you want to look at any guidance on fsd and the robo taxi. so one last thing, i was in a uber last time in new york. my driver got out and had a bite to eat, so i thought, that's it, i'm doing robo taxi next time. >> okay. we have a two-year auction to get to if you'll sit tight. rick, what do they tell you? >> well, first of all, we should cue "twilight" music. this is the strangest auction in years. the two-year came in 69 billion of them at a yield of 4.434%. well, well below one-issued market, hovering around 4.46. so it stopped through well over 2.5 basis points, priced excellent. and well, here's the odd scenario. if you look at the bid-to-cover, it was 2.81. the best since august of '23. if you look at indirect bidders, 76.6%. i have over 20 years of auction results. i can't find a higher one. i believe that would be an all-time record, which is really difficult for an old issue like a two-year note maturity.

you know here as long as the need of the i see the 2 different times as soon as can as far as the sub gms does, who best hits the language in the process to the clearing? it gives me a bunch to see if i just continue. so i'm supposed to start looking for the should i come in the to, to my successful over 50. if you, anybody else, you, biscuits for pieces on to a key focus uses some jones of the play video loops doing the, the for g. like go from the new hall. if it's, it's only going to take in the increase your district has a lot of extension in also letting you know that the okay the the probably the best fit and they'll send this on club of the shop sale as it is. it is what we need to think about doing what's happening with this company, what they're going to split the policy mm hm. the on the on the on the phone. so let's just go from the cheese cause the expenditure. thank you to advocate for for sending me to increase hung up proceeding basically from the time a call to him. and that's really about to show up to look for the restroom and when that's gonna be best for them to do to

i also attended along with gm and ed around the region a select committee of bay area executives focused on supporting the new committee so keep your posted and potentially have a hearing at the ta next month to hear from our local and regional operators. next, senate bill 915, the autonomous vehicle bill was withdrawn. from the transportation committee to be heard. effectively ending that effort. had been proposing to hbors to the amount of av on the roads among other provisions and the amendments proposed by the trwould have removed muc the local control aspect of the bill was unwelling to be accepted by the author so meanwhile, the conversation continues with two other bills and that is bill 1777 and 3061 by haney, both of which we continue to support and advocate mark watts is testifying on our behalf this afternoon at the senate transportation committee. finally, on legislation, june 20 the california supreme court removed the taxpayer protection and government accountability act from the november 2024 ballot finding it illegally revise the state constitution. this would have raised

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to your point, gm is up.>> stellantis. >> stellantis got hit. >> stellantis got -- >> mercedes is today in europe. >> and gm was the better number, it seems, but there were other aspects of the report that were not -- that were frowned upon. >> it had a nice run-up, but the mercedes was the latest one, also, today, also reporting a sales decline. they lowered the ceiling on the margin story, and for them, you know, the issue that they cited, china has an impact on the luxury auto market. also talked about, you know, ev demand, and that may be the overarching theme here is the weakened demand for evs and the punishment of the stocks. >> it's the -- the growth rate is slowing in terms of -- and although the price keeps coming down to a level that's almost equivalent to i.c.e. >> markets have just impatience with how much capital's getting consumed on the way to scale in ev. and you know, adam jonas at morgan stanley also with mea culpa on ford says, it's like a mid-teens free cash flow yield right now. >> wow.

and if you look at gm, if you look at ford, the dynamics around the move they've been making, it's aivity. it's been a case where i think part of what we got from both powell and cpi is that we're kind of where we were when the oil -- when the auto companies started to run out of gas when the fed started being very aggressive. i think gm and ford, go higher. >>> coming up, apple climbing to a fresh all-time high on the back of not one but two price target hikes. >>> plus, a luxe letdown for burberry. firing its ceo of a huge sales disappointment. what it means for the luxury trade, right after this. >>> missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. what is cirkul? cirkul is what you hope for when life tosses lemons your way. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the effortless energy that gets you in the zone. cirkul, available at walmart and drinkcirkul.com. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you d

meanwhile, back here in the bay, warriors gm mike dunleavy jr noting steph is eligible for an extensionnever he wants it. >> yeah, i mean, we'll we'll talk about that too. i mean, look, man, that guy, you know, kind of whatever he wants. so we'll get through all that stuff. it's been, it's been a sprint here, getting through the draft and free agency and summer league and all that, but, all that stuff will get figured out, and i think stuff will be, you know, i think we'll say pretty confidently, he'll be a warrior for life. >> first round of the annual celebrity golf tournament in tahoe, charles barkley shot his best round ever at this event, plus three on the stableford scoring system. and then he went on on sportscenter and he called out the defending tahoe champion, stephen curry. >> steph curry, he's a coward, hannah. he's ducking me. can you believe he knew i was going to play my best round ever? that's what he going to use. some lame, lame excuse like some lame excuse like the olympics to doug me. how could what kind of excuse is that? >> steph is so scared of charle. he went all

phil, what did gm have to say?neral moat toers has had guidance that by the end of '25, it will have capacity in north america to produce 1 million evs. that's been the guidance for some time. today mary barra at a cnbc event said huh-uh, they're not going to make it to 1 million. here is what she had to say. >> general motors moving the an almost all-electric future. the vehicle is really a software platform. we're seeing a slowdown. we won't get to the market just because the market is not developing, but we'll get there. we're going to be guided by the customer, but what i like to tell people is get in an electric vehicle and drive it. it's instant torque, opens up new design language for the vehicle. as the charging infrastructure gets more robust and evs become more affordable, i think we'll see that growth in the next 10, 11, 12 years is going to be pretty transformative in the way that people move. >> so again, gm saying it will not be able to hit its guidance of 1 million ev capacity in north america by the

gm is up 35%. i pitched is upstart, which is pretending to be an a.i. -- it's just a lending company that has a balance sheet. book value, less than $7. it's a heavy short interest. it's not for everybody, but it's indicative of what is going on in this economy, and i put affirm, which is really extending a lot of the credit things that have been going on within the economy. so, staying with the upstart. >> all right. highest conviction trade right now? >> i have to say, first, you know in this market, it's so hard to pitch shorts, you know? everything has been up. so -- you know, if i come on and pitch my long here, you wouldn't expect me to pitch a conventional idea and it's gold. and we have this dollar debasement thesis, which -- the basket includes gold, silver, platinum, and, yes, bitcoin. and, you know, if you think about the world we live in, and if you heard us on the tape, you know, we -- we hate the deficits, right? and it's -- it's a trillion dollars of debt we're adding every 100 days,