on the desk tim seem more, karen finerman, guyadami yes, the nasdaq finished the day higher for the first time in four sessions. name after name is crumbling here's three examples from today. upstart cut in half after they cut full-year guidance carvana announcing it will lay off 2500 workers or 12% of its workforce. peloton falling to an all-time low after reporting a major loss for the quarter. the ceo saying the company is thinly capitalized netflix to uber to paypal, the list goes on and on. will the unraveling of the tech trade create a cascading effect beyond the market cap destruction that we have seen in the indices. tim seymour, what do you say >> well, we've already seen massive destruction in high multiple tech stocks i think there's a very different story around a lot of tech we can talk about semi conductors which were up 2.6% today and these are cash flow rich companies that i think have robust demand in chips the fact that you're seeing consumer finance companies that were not profitable trading down to this multiple or, you know, actually lack of a multiple because there i

on the desk tonight, tim seymour, karen finerman, brian kelly. we begin with apple's deep decline, the stock falling 5% today and quietly over the last week, down nearly 12%. the market cap dropped close to $320 billion in one week, that's one mastercard and two salesforces. apple has been a pillar of strength, not so much anymore. so what can that mean for the markets? brian kelly? >> well, it seems to me you might have more weakness here. apple has been this bellwether everybody has looked at it and said, you know what, this thing is levitating, this is what everybody is in, this is also a big retail name, so to speak and actually in everybody's portfolio, in the swiss national banks portfolio. they're one of the largest holders. this is the big one, breaking 150 was big, when we saw it break 150, you saw the nasdaq start to sell off and cascaded from there i think now looking at it what do we do with it you got to wait for apple to bottom and reverse before you say, hey, maybe this is a chance to buy the market in the whole. >> it is not just

this is "fast money. " on the desk tim seymour, dan nathan, karen finerman and banoman. >>> the s&p 500 managed to finish the day in the green. the dow and nasdaq off their lows of the day. has the market truly found its bottom and what could the rebound mean as we head into next week? tim, did you note a little sarcasm? >> and we appreciate some sarcasm on a crazy week. if you think also that move of 2% in the last whatever minutes of trading is something that's probably more related to the options guru on this side of the desk can talk about it we a trillion nine in equity derivatives and things that see the dealer community unwiped volatility and be in a position to get this market back. this was the week that retail kind of stole the market it was a week where walmart and target became microsoft and amazon and apple to some extent, i think some of the dynamics we talked about, we've heard about so many hedge funds that have had very difficult times. i don't think a lot of the selling was all fundamental. you had a lot of risk positions that were told to take down why, good companies

melissa lee, this is "fast money" live from the nasdaq market site on the desk, tim see moyer, karen finerman and guy adami. and the likes of target, home deport and others starting tomorrow morning and we could get a first real read on how the consumer is handling inflation so what are we watching for in these results? tim, what do you say >> well, walmart is interesting because relative to target, it is actually not very cheap relative to its self-. it is relatively cheap but in terms of who they serve, a lower to middle class consumer not entirely but probably disproportionately hurt by higher energy prices so while this is a sweet spot, i think for the business cycle for a company like walmart, it is a case where i do think that a core customer may be most under pressure here. comps are expected to be about 3% some people think they could inch over that again, inflation in terms of food prices is good for walmart ultimately they are the ones that could push people around but also higher food prices means better top line and better comps even if the margins are under more pressure. >> this

i'm melissa lee in the heart of times square on the desk tonight tim seem more, karen finerman, dan nathan and guy adami. we want to start with the breaking news from fed chair powell he finished up an interview making some potentially market-moving comments saying a soft landing may depend on factors the fed does not control. also saying two 50 basis point hikes in the next two meetings would be appropriate he's also talking about what a soft landing means it means hitting 2% inflation with a strong labor market does this change the game, dan nathan >> i don't think it changes the game i think it's funny that we're back to that 2% inflation target that was what they were trying to get to on the upside and now they're trying to get to it on the downside i think guy would tell you inflation will be pesky and persistent, so we might have low single digits from that 8% readings that we've had. but i guess it's around here to stay the idea of threading the needle for a soft landing, nobody really knows if you look at a lot of the action, a lot of markets here, it does feel like the markets are

on the desk tonight tim seem more, karen finerman, dan nathan and guy adami. we start off with the jamie dimon rally. the company held its first investor day since the start of the pandemic the bank saying it could hit roe targets faster than expected the stock rallied nearly 2%. the dow and nasdaq strongly positive too do these comments from jamie dimon suggest broader strength in the economy and markets do we believe jamie dimon versus what some other prognosticators are saying karen? >> she believes everything he says let's be fair. >> there was a lot to love about this investor day and i'm not just talking about jamie dimon he was very optimistic, which is great. he often has a great handle on the economy at large so i like to hear what he has to say but the things that were really important today were the net interest margin. last quarter there was so much concern about the net interest margin shrinking this quarter with rates higher, they said the net interest margin will go from 53 to 56 and exit the year at a 66 runway that was very, very good the othe

. >> hey, michael, it is karen finerman thanks for being on. do you think the china slowdown fits into the equation and would they be buying itfro russia at a steep discount how do you think this plays out? >> well like i said, it is going to be where we're going on a seasonably strong period and the fed is raising rates and not doing anything at this point in time. but what i said beforehand, in previous periods we have supply dictating what supply did. and the u.s. doesn't have a lot of production to bring to market and opec is not there. and i see demand getting better over the next couple of quarters so we're going to see prices heading higher. >> and any names you like more than others right here, mike >>go ahead >> any names that you like here. not all oil and gas producers are built the same some are hedges, some are not hedged and any gas names that you like more than others here >> yeah, we've been saying since the beginning of the year, we like oil services because activity is going to be improving. pricing is improving and earnings w

on the desk, tim seymour, karen finerman, guy adami and pete najarian, and we start off with retail rocketing higher. shares of dollar tree, macy's, dollar general gaining double digits after earnings report and all three raising outlooks for the year is the consumer really as strong as these comments suggest? initial jobless claims continue to trend upward with microsoft and paypal the latest to announce hiring slowdowns or job cuts and while demand may currently be strong consumers may be retrenching to fund purchases. savings as a percent of income fell to under 6% in q1 down from nearly 8% at the end of last year so if stashes of cash continue to dwindle, job security isn't so secure, will spending stay strong guy, what do you say. >> certain areas i think so. we learned today with dollar gen and dollar tree, some operators are doing extraordinarily well and others we saw from walmart and target, not so much. i think those were one-off quarters for both of those i'm sure we'll talk about it in terms of these dollar store, absolutely i think this is the environment we've talked about that