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What's next for amErica the morning after breaking election results critical insight from campaign insiders, how voters are thinking about the economy workbox wednesday is special time five A M R C N B C live from the andean .

market side in the heart of new york city, y's times square. This is fast money. And here's the plant up tonight. Bad apple york lam hu slashing version hathaway stake in the iphone makers of warn buffet is selling should you be to nuclear troubles the energy companies breaking down today after regulators nixing a big deal, the space, what is that for the names and is there more trouble to come there, plus how markets are positioning ahead of the election? Viking, their putis on its way down on some bad obesity drug news and the chart master goes panning for goal.

You placing his bets on the precious metal or on the miners, why you're going out to stick around to find out why we we call a teeth everybody. I am bryan for the listen once again, coming to your life studio will be the dance deck and on your death tonight, tim Simon Carter Garcia Carter worth, Steve grasso, all physically around the table. I love IT because we are going to start with a potential warning sign for the oracle of omaha warn buffer ts burch half way further cutting its position in apple in the third quarter.

IT still holds a lot, but it's now under seventy billion dollars of a lot of money. But IT is less than a half the stake that they held at the beginning of the year. There was really two ways to look at this shares of apple.

They're up fifteen percent in twenty twenty four under performing a lot of the mega cap stocks and the S M P, but still a pretty good return. In fact, if we look at IT in the mag seven, apple ranks number five. Video, meta, alphabet, amazon all posting Better returns.

So what kind of tim begs the question is he selling raise money for something else? Is he's selling because he's still loans a ton? And if he is selling him or his team, we don't actually know. It's like warn buff t like filling a form of ready, probably really signs off on IT. Is that a sign for the rest of our of you is a listeners.

Well, what we always say on this show is the thirteen next to backward looking. And so there's an element of this that really should not be how we're focused on anything and what one was focused on in the third quarter. Well, we're now in the fourth.

The dynamic that I think is is always fascinating. Warn is is known as a value investor. So when you hear of an investor who thinks that the intrinsic value in stocks is essentially gone, that's something to listen to because, again, this is where Warren has really made his money, and everybody knows the numbers on the ad performance to the asp.

The other dynamic that I think is what has investors most nervous, who was best position in the financial crisis to scoop up prefer chairs of golden tax, mars, bank of america. And again, he the form force that he's filing because he owns more attempts. And the back of amErica are part of what had people very concerned.

I would make an argument, is a combination of truly being a value investor and seeing a lot less value in some of the names. The selling in bank of amErica is more interesting to me on some level because this is a position that in almost down twenty five percent from where was even a couple quarter, a couple quarters ago. Um and it's a case where I think there's some concern that the rates the rate cuts that the family will be bring thing will be very poor for banks. So not know I don't think any investors should be rushing to the door based upon I mean, the apple selling we've been hearing about for months.

And this is critical, Steve, to remember about warn buffet. Warn buffer t is not considered the greatest investor ever because he buys high and sells low. He hurts cash to have over three hundred and twenty warn buffet as more money than most nation states right now.

And what he does is he wants to raise money. So when he sees an extraordinary and rare opportunity, he buys in. So are we taking anything away from the sale of apple, maybe just once the money for something else?

What is in short term treasury ies right now is got three hundred twenty five billion, but he's not buying back his own stock, right? So that I think that's the bigger take away. So if apple is not the bargain, his own stocks, not the barge right now, there's no bargains. So your point are their bargains in the market? No, maybe maybe some people I look at you because I think that you probably don't think that there's a lot of bargain.

So apologize is always something to buy, but that one of the great festival time is making a decision to not buy, right? And he's had planning cash before the current trimming, right? So I was getting to be in an unbelievably large .

pile of and there's also captains tax that, that could be changing to. There's voluntier ity around the market. And maybe you want to, greg, able to make his own decisions on what he wants to do with the money so that we start off.

We don't know who's making the decision to sell IT, but maybe they just want to be sitting on a tn until they find something that's worthwhile. And we never I will not never call me, but I am not listen, there's there's an inherent bias that we have on cnbc. I fully admit that say when do we buy something? When do we buy something? We've very rarely asked the question.

You guys do a great job of here, but I mean, you know, see what I did there, which is, when do we have something? And let's not forget, he sion's over sixty billion an apple. yeah. So what do you take away from this?

Yeah, I think that's something I don't think you, anna, take. This is a negative on apple. He's not exiting his position .

by any to zero. We might have to a .

that would be a completely different conversation, but that's not where we're at. And he has been taking this off the table this year. I think really virtual half had become mostly apple and cash, which is kind of interesting that for the markets were a lot of visitors there in the magazine or in cash.

But he really has always made sure he's a diversified portfolio. He's constant pounding the table about that. I think seeing him takes some poverty here is more than going to be the future opportunities.

What they are, I think, is the question that's what I D trying to find out. What is he going to do with that cash that we're going to need mansor on. But I don't think this is a Better thing on apple.

And the stock itself, of course, is IT is IT dipped today quite substantially, but it's just in line with the insurance stock. If you look at his beta or is correlation to the S M P, it's actually higher to the transports and even higher to the S M P of other insurance cy subindustry group. So IT really is treated as insure and um most of them have dept.

timely. You look at my life, look at all. So I think you buy the dip.

Yeah and to your point, Steve grasso warn buffet has a whole team. You mentioned a few tod diners. Gray, whatever you just wondered, like let the kids run. And when I say kids are probably they're ID fifties, but you get my point, let them do what they want with the three twenty five lus extra for relative every year gets little more relative. You get my point, let them run right, warn buffets.

At his mid nineties, you're gonna to let your predecessors he defined his running a birch year the way he wanted to run IT the stocks that he wanted to buy, the sectors that he wanted to get involved with. Into your point, he's got to let the next generation figure out. So we don't. But again, tim, do we take this ways everybody sell everything of apple because warn about IT sold some shares?

Well, no. I mean, again, far bit for me not being critical of what birch's done. And it's been it's been a phenomenal performer.

But but actually for the last eight quarters, I think they're net one hundred and sixty six billion and selling this has been arguably one of the greatest eight quarter runs in the S M P. history. So um no, you don't he's not a market timer. He is happy to be very early.

And if things out there and I get back to intrinsic value and stocks that truly is um in over simplified version of intrinsic value is truly um there is more value in the whole than its trading at um he doesn't see that he's evaluation guy doesn't surprise me that we're in the place we're in. It's not three and sell apple today. If anything, those headlines came out six months ago and we knew about .

that selling three hundred twenty five billion in cat. I mean, someone was going to a headline like warn buffer t buys germany. Just thought germany it's under value alright, for more in the markets, the fed interest strates and whatever else you want to talk about.

Maybe warn in buff. And let's bring in jim bianco bianco research. And if you could try me on that if you want, but I want to start here.

We have election tomorrow, and without bringing politics into politics, to bring politics into this, because rates fell a few weeks ago, ten year for three to three, six, whatever was they've recently almost violently popped back up and the market stock market is moved with IT. How much of that move in the bond rate market is in expectation of a specific election outcome? Either way.

I think only just the last couple of days to week or so has really been about the election. And you see IT in what's called the move index. It's kind of the vics of the bond market is said the one you're high volatile in the bond market is through the roof is that there is expectations that you know there is maybe fiscal stimulus coming, are spending coming.

But whatever the election means for the markets it's being focused in on the bond market, I think all the other markets are taking the reaction. When last thing is, look at friday's move and look at today's move. These are extraordinary large moves that we've seen in the bond market. But in this environment, they're just kinds average for what we're expecting through the rest of the week.

Do you see another recognition of inflation? Either way, fifty basis point rate cut took some people by surprise you. Yet some politicians today, very high profile ones, calling for more rate cuts.

No, neither candidate seems particularly concerned about death or the deficits. Do you see inflation rearing its ugly head again in some form? Jb.

yeah, I do. it's. Twenty five. I think the problem with the fifty basis point cut was that I was a signal that the fed is to put IT in Austin glasby terms.

The chicago fed president, they get hundreds of basis points to cut rates through twenty to the hundred twenty twenty five. And you've seen what interest strates have done. Look at what mortgage rates have done.

Theyve gone straight up since the middle of september right after the fed cut. This is the market, I think, just screaming at the fed. Wow, too much. You're going to create inflation problem. You're going to overstimulate an economy that doesn't need this much stimulation.

And if you throw in that, a trump Victory will find out in twenty four, forty eight hours that we're gonna a be looking at tax cuts, deregulation and terrify. We definitely don't need hundreds of basis points of rate cuts over the next year. So and I think that the bone markets just screaming that this is just too much, which is why you seen interest strates long under yield to go straight up.

So so jam, we really want you view here. You're talking about a couple there from things. I mean, the fundamental of view that the economy is not as weak as people I thought as the market I thought.

But obviously, the depot dynamics that I think we certainly all focus on here, there's a credit dynamics, there's an issuance dynamics. So there's technical elements. But I also here you're saying bonds look interesting and that actually know in a world we've had twenty plus percent returns in the S M.

P. There's other things to do. Where would you be in the bond market here? Because that sounds to me like you think rates could back up a little bit. I think there's a lot of investors that watch the show that have become treasury market investors in the last couple years, and they've enjoyed IT and and there's some fear of moving too far out on the rates curve. So where would you be?

Well yeah you know to put this in a perspective um i'll channel my inner doctor, germy segal, in his books stacks for the long run which the addition last year what should stocks return you from this moment for D I know they have had two twenty percent year years already, but rational expectations are about to sixty eight percent. Return is on everyone you should get if this is twenty, twenty.

And you look at the bond market yielding summer between zero until we were screaming, tina, there is no alternative, but this is late twenty twenty four, where the bloomberg aggregate index is nearly five percent. You can get most of the expected returns out of the stock market with a lot less risk because in the bond market of bed here is like done one percent or down zero or maybe what up one percent. It's not a twenty percent correction like we saw in twenty twenty two.

And so I think that's why you've seen investors get very interested in the bond market. Bond etf, i've already set an a early record in terms of their inflows, and they stood at two months to go to add to IT. So I think that if you want to look at what should you expect, I know most people expect twenty percent of months, but they're not going to get that. Uh h but if you are in that gamp that you know six, seven, eight percent return is reasonable. Obviously, if you look at the bond market, you can get the majority of that with a lot less risk, and that's why bonds are significant competition for the stock market right now.

Jim bianco bianco research always appreciate your views in a straight talk. Jim, thank you very much. I think, I think jim was twenty percent a year. You get a brought a point.

Is there a trade here in box anywhere? Sounds like jim might have been advising warn button, right? So I wanted to an easier path and sixty percent probably make sense and maybe, maybe, maybe warm buffer and maybe jim are calling the top to the market.

But IT seems like the fed IT doesn't want recessions anymore. IT seems like they're trying to be so proactive that they don't want a recession, so they want to be early. I think they were late to cut, but IT seems like there's a new fed and a new sheriff in town. Is that I I guess, power because it's the same but he's been the share of yeah but he's a different new boss if key is the same team.

I don't going to get again by one. I think that I think we need a place here where I think the feds go to twenty five basis points and and I think the feds probably relieved that the economy, at least this point, we know their variable legs and IT. But I do think that there is a fear that, that inflation still could be out there. And we've just talked about all those rests.

Good stuff was we won to next art from all street to downtown dc. Security, beefing up in the capital all ahead of election day tomorrow. Make a set up has more Megan.

Hey, ron, that's right. We're here in downtown and washington right now, just a few blocks from the White house where you can see businesses around me and apartment buildings behind me are gearing up for what their worry could be. A little bit of election day unrest here tomorrow, all weekend long.

We've been seeing security going out, layers of security around the vice president's residents in northwest washington, around the White house and the treasury department and in the blocks surrounding the U. S. capital.

And then over at Howard university that the vice present Harris will be tomorrow night. This also loads of security in place there. The city has asked all construction sites in that area to shut down and to remove anything from their sites that could be used as a projectile.

So clearly, lots of preparations being made here, prime. But city officials are emphasizing that that none of this is necessary, that there is no credible threat at this time of election violence. Election day violence happening either here tomorrow or in the days later this week.

While we might still be waiting for a result, we've been trying to project really a sense of calm in the past few days and telling business leaders there is no need to board up like this like you see around me. But in these blocks around the White house and downtown especially, business leaders aren't taking that advice. They're making the calculation that they would rather invest in the security measures, then take the risk of damage to their store fronts. And brian, they lived through some unrest in the twenty seventeen inauguration for trumps first term, the twenty twenty summer protests, both of which did bring some damage to dowton washington. And now these business leaders are saying they'd rather not make the rip began.

ran is solved, pray for peace, whatever the outcome, making a sell. Thank you very much. Why we are going to take a very short break, but we got more fast money coming up on deck. I try factor of break news on matters, slow machines and some very private pill, what the government just did, that melt IT down some of the red, hot nuclear names at all next time.

You're watching fast money here on C, N, B, C will be right back.

What's next for amErica the morning after breaking election results critical insight from campaign insiders how voters are thinking about the economy money workbox wednesday is special time five A M R C N B C.

We promise your earnings, and we are delivering on our promises. We get an earnings alert on in XP semi conductor that stock down a little bit, about five and eight percent on result. So to find out why the stocks moving to see a mode, hey, bryan.

N, X, P, M, I conductor shares declining after a CEO. Curt savers said macro weakness in europe and the america's resulted in downtown guidance for the fourth quarter. The health of its automotive business was in question following negative comments from texas instruments and on semi con ductor, but NXP managed to deliver reviews for autos that were in line with the street.

The company does also have notable exposure to china, about thirty five percent of total revenue, according to Morgan stanly. Regardless of who wins the election, bank of amErica animals expect restrictions on china to increase, which they say will chAllenge some I conductor sector. A potential talking point on nx earnings call tomorrow will also get an update from super micro after the bell, my brain waiting .

for super micro because that's not been a subject of traders discussion even mody. Thank you very much. We'll talk about NXP semiconductor.

Anybody here I should know, but I I don't do this everyday courting. Anybody got to take on nx, P, I and stocks. I have been dead money for about nine months in a market that's done pretty well. Yeah, I think there .

they're really gonna focus on the auto industry, which is really for the debate with the election right now. Right, is depending on where who's in office and what tears are going to be in place that is going to affect the plus we're seeing those longer term rates, which are rising.

And lot a lot of the auto industry, you're going to see more or less people will buy autos if those rates are going to be higher, if you're going to be paying more for your out alone. So I think this is something that is kind of one of those weight and see into l after the election. And I don't always think that's what you should do, but in something .

that's so directly affected by that, think you're going to see that. I say so, but I have to and if you expand, the IT has been dead money for a couple months, Carter. But if I expand that chart out, if you get through a five year chart of inx P I up the dead money for three years.

I I mean, it's it's a been poor performance to its peer group, right to sam. But I think the condition here is not one that tidy since craic. It's the whole space.

We know that the semiconductor index relative performance peaked in march to the tech sector. So the most important part of the sector seven is the most DNA ic. Its performance to its period op, that would be an apple microcom peaked in march and it's getting worse.

The the equal weight something going to do has not made new highs. And july, the semi has not made new high. In july, the market has made new high. This whole area is all the elements of distribution.

And in the auto industry, they rely up as a percent of revenues at fifty five percent to court these pots. So ottos are the chunk that have to do well, and they haven't done well enough for nx pi to throw know. interesting. Just quick side note, did this selection road trip two weeks ago, we drove across nine or miles. I talked to numerous business oas.

The way you are running, did you know he was running when I yet you see couple business owner told us that their business had kind of frozen up ahead of the election, and then I saw that that their customer base was just frightened in action. And I do wonder if, after I bring them up, because you wonder somebody gotta buy a car a couple of weeks before the election, whatever one's kind of on edge, could we see this business boom once it's once we have a clear winner, we move on. Could we have a business boom post elections?

If I wonder, it's always a possibility. And you never know how the offset shake out. You don't know who's coming in and what he sent them about. You need lower rates for the housing industry and you need lower rates for second mortgage ages and you need lower rates for auto loans. Yeah, I just IT could be a good i'm trying to be optimistic on the election where once it's over, whether that in a day or a week or whatever might be that people are unfrozen from whatever concern they may have and they got and buy more cars, maybe that benefits in NXP. I they do whatever IT might take.

And I just to put a both on this whole under performance of even three years. If you think about the industrial space, the desert space was under a lot of pressure supply chain dynamics during kova that, that meant there was not delivery of mean, the chip dynamic for that. Some of the autos was a big deal during late twenty one and twenty two.

And when demand has started to recover, it's also, I just think, industrials as a group. And this may speak to kind of the dynamic you're talking about, what we've seen with a handful. And I do mean, jim, and I do mean even the airlines. We're seeing this this part of the industrial sector start to break out after a long period consolidation.

Heart well said, our N, X, P, I name that is not been a whole lot right coming up here at fast money, more after hours, action on plentier and win results. The tessier is going to bring the latest on win and why investors do not like what they see. Plus amazon's nuclear no goal. You got the federal government saying ah the amazon and some big nuclear stocks took IT because of IT. It's all of him.

What's next for amErica the morning after breaking election results critical insight from campaign insiders how voters are thinking about the economy your money, your vote swap box wednesday special time by A M R C N B C.

Our woke back are the chips down at when resort, some investors apparently folding on the back of results. But there's always more to that story. And i'll stop with the puns, the conference colleges just wrapping up context.

Br has the very latest I knew would like that. I did IT for you context. But what seems to have investors a little concerned, well, you're watching the .

socks drop about four percent during the earnings call. L despite CEO crag billing saying, look, everything's fine. Earnings missed.

Revenue came in shy adjusted property ebr. That's a crucial earnings metric, a little light. C, E, O crag billing said golden week in macao was great, encouraging that winds market share in macao. Stable gross gaming revenue was down across the whole destination. You can help that.

And the other thing is we know that there was some are the average daily room rates that had dropped somewhat in macao, but they were running at almost one hundred percent occupancy on chin's stimulus. Billing says just a little bit too early to say whether that's a driving visitor spend in los vegas. We saw the casino numbers softer than they were last year.

IT seems like win was hit by A, A string of bad luck that we heard much of the like other casinos on the strip we've heard in their quarterly earnings reports as well. Billings described demand as healthy, he said. The business from high end customers is stable um but the year on your comparisons are a tough.

In fact, he says, look in retail, we saw revenue up up three and a half percent year on year. That's just an indication that customers are still spending on luxury, the everything that they wanted to focus on was this board buyback. That board authorized about seven hundred and fifty billion dollars of new buybacks.

That brings the total two, about a billion dollars. They said all systems are O. I quote here, brian, he said at the beginning of the call book trees don't grow to the sky, meaning there's a cap now and then to how much you grow.

Trees also get cut down. They burn down, get a hit like lightning.

They hit by .

birds next to them. Things happen, we can go, will find out. But that IT sounds like business was OK and tested. Yes, I do yes. I mean.

I mean, he says that everywhere that you look lost, vegas, boston actually beat the ebr estimates. That was the only destination that win is in that did that um that that the demand is still healthy and that there looking out toward twenty twenty five and looked like all systems or o so there was no big problems to to speak up again.

They're talking about the future as being very brighten, especially because they're investing heavily in all march on island in the U A. E. This is going to be the first integrated resort in the middle middle ast, uh, and they're putting a lot of chips in that .

basket is IT dii see what you did there as well. The arca you get red. Thank you. Thank you very much, tim.

Well, I think with win and certainly other names that have a lot of exposure to maco like losses ga sands, there's a story of where macaw is going to be uneven.

And but I think the longer picture here and the theses for owning when and losses ga sands is that I think if if your view is one to two years and beyond that, I realized it's been a long one year, even one and a half years after for these stocks actually had a fantastic late two thousand and twenty two, twenty three before, given a lot of that back. I like vega sans, but I look at win and I say four and a half times eba talk about in transit value. It's there.

It's there in these names and and it's not going to happen overnight. But I think the long term on the U. S. Property is zone and maca was just recovery and I expected.

And when you look at IT, IT was IT was me. I was vegas macao. Then he had singapore with lazy ga sands.

And now you have U A boston property, boston property. But you have U A E I. I like that ability to throw that out there for future growth potential.

So this would be my favorite name if I have to go with a traditional code. There is always a shiny new thing though, right? IT was macao that I was boston, to your point, that was singapore.

Now it's the U. E. How do the charts overtype look?

This is talk that peaked at two fifty a decade ago. It's turned down sixty one percent. It's a game chip, no intended.

But you gotta catch trade IT. And that said, it's not investment. I mean, is is investment something that whips around the same level was fourteen, fifteen years?

So you know why you buying a dividend, just buying something .

to beat the earnings. So someone going to greater put an article and bearings and you catch for three box and you get out .

so cynical I know really is I mean, it's like you .

surprised you didn't just use the term funny metals because that's that's what he likes to do when he there socks. But but he's he he's right on where you've been on the stock, but this is clearly been a trading stock. And and I think there's I think there's a wanted to your trade back to Normalize valuations.

even trades clearly. But a circus ira s right coming up shares a viking. There are shutting the ounces by largely positive news on its weight loss drug efforts.

So the stock is down. The news was OK, but there's some analyst discussion. We're going to put this all together and make sense of IT for you coming up the first amazon wit a bid nuclear push.

But guess what the U. S. Government saying, not so fast. We're going to find out what happened. And the stocks that hit coming up.

mr. Moment of fast catches any time on the go followed the fast money podcast. We're back right after this.

right? Stocks are dropping all ahead of tomorrow's presidential election. The deal finishing down about two hundred and fifty eight points.

That a lot, sixteen of one percent, the S F, P. Of sixteen. And as that down a third of one percent, markets a little bit, let's not be clear. They've a nice run. Little seoul off to pull back today had the election no shocker inside the market.

You did have some movers, okay, palon palon up about three and half percent back amErica upgrading the stock tool by from an underperform, saying IT does see a little bit of earnings growth ahead for paleo, but that stocks but absolutely level. At the meantime, trump media, the ever violated DJ t talk about the stock snapping a three day losing streak that took forty one percent off the stock IT bounce back today, twelve percent. That was a huge down, forty one percent up to the twelve percent dollar.

Three jumping after hours, they had a sea sweet shake up. The COO Michael creating junior will serve the interim CEO as their current CEO steps download to health issues. Finally, plentier surging after hours, thanks to the top and bottom line beat soft a cody trading at all time high.

And it's soaring right now. A lot of moments behind that stock, about twelve percent, not a lot of moments of today around nuclear related names. It's because fork, the federal energy regulation commission, came out and basically denied amazon's the ability to make a nuclear deal with the command called talent energy and that send people running from the nuclear space in general. Pretty fairly complicated story. Figured out the pepper, Steve.

it's pepper. Hey, ryan. Well, so the fork rejecting town's proposal, as you said, to increase the amount of power from the susquehanna clear plan, they would power a co located amazon, a data center.

Now it's what the industry calls behind the meter meeting. The data center would not pay for transmission and distribution costs. And some electric utilities in the region have said that will unfairly shift costs onto other consumers.

Now in addition to talent, vista w conStellation, public service enterprise group, oko, a new scale, all fell on the regulator's decision, but multiple firm said to buy the dip, including ubs, which said, quote, investors should focus on the strong fundamental backdrop for and and the ipp broadly and see through the noise created by the fork ruling. Now, taking a step back, the data center theme has really exploded when power demand was already rising. And so stakeholders are trying to figure out how contracts should be structured or as roves asset management, john barletta, I regulators want to make sure they're getting the cost allocation correct. And of course, brian, this was the first agreement of its type and definitely not the last.

Yeah, got a scared. everybody. Everybody had these nuclear hopes.

pepper. Then here comes fork ride in pip Stevens. Really appreciated.

Thank you. Let's talk about this guy. It's one day. It's one decision.

IT doesn't take IT all but the pipers point costellos, which is hoping to restart T M. They can't TM I now, three mile island. This is a blow to I think this is .

it's a road block though IT doesn't stop the demand that that's going on out there, not only for the the grid, the power dynamic that's around data center and A I but but obviously the story that was nuclear power even without the data center and all of the demand that come from all of the hyper scales and all these deals, microsoft did their deal, they're all doing them, are trying to do them. They will find their sources.

But IT doesn't really speak to what has been flowing for a long time. I mean, you ask the doe, you know this. I mean, Jennifer grand home thinks nuclear is the answer.

We've changed the perception in this country of what nuclear can be. And I think the voluntier ity in this trade, if you're playing nuclear, expect a lot more of IT. But you look at the five of your trend on this trade, it's friend and IT will continue to be.

And that's critical. I think to this to tims point, I want to make this clear and people made IT clear as well, which is they don't focus not being entire nuclear here. What they're doing is they want the nuclear power to go to homes and buildings.

They don't want private come back like amazon to take IT, right? Microsoft wants to turn on three miles. I can take that energy.

I think first role, and I can't speak for what is pretty obvious, is still pro nuclear. They just wanted to be for towns, not time points of bipartisan effort favor of nuclear, nuclear power now. But I think the adoption is going to be from large at first before people get used to IT.

So that's going to put a road block. What does the relationship look like for a google, foregone, apple, forer, amazon and nuclear power? We've got to decide on that first that maybe it's contractually locking up these companies.

So it's not a physical, but it's those digital agreements that theyll have whenever firm figures IT out. Maybe this is going to be a presidential thing is I didn't want to go there. I know mabe regulatory. If there's a change in the regulatory schema for energy, maybe we get a reversal of a decision like this because the market was scared to be a conStellation which has been a red hot stock, right go bottom, they won't be able to do the three mile and deal. So maybe if this is, I think, energy as much as any without getting to the politics quality is a political play a little bit IT.

Absolutely as. And I think at the end of the day, there is not enough electricity to go around specifically when IT relates to A I and these large cap tech companies, they have this door mid where they need the energy, but also they try to get more clean, more environmentally friendly. And that's why nuclear are such a perfect answer for them.

So I don't think some of these regulations are going to get in their way. Yes, might cost more for them. Might they have to fund some of these sources that IT does get to towns and I kind of get to the government lives. Probably we're going to find the but I don't think this is going anywhere.

I do think that to buy the deputy, microsoft was willing to pay a hundred dollars of mega for electricity, which if you don't know what that means, that's like four time I saw back to the future. That's one point. The delicate although I do not make cbc special election coverage all tomorrow night, we're going to have all the results as they come in reaction from some of the biggest names in business, we start our covers.

But with fact, face is non parties. And we look at the markets, look at the market reaction. Seven M A N Y C, those results rolling in. I'm on or to be co hosting the midnight to five M. I think that's when the actions .

gonna be we got the coffee .

ready to join everyone midnight to five. That's what it's all gonna happen, big boy. I. T pick up markets.

Markets.

markets coming all check biking therapeutics more than reversible earlier gains in the day, down about thirteen percent. We're to talk about what exactly had that stocks sort of whip song the zoo s gero s to join us to help digging into the new weight loss drug data that is we in the stock, is the market get IT wrong or back up for this?

I walk, go back. Let's talk about biking therapy. euros. I don't a big trader stock, all right. The stock fell LED thirteen percent.

IT was up eight percent in the morning because there was some what some considered positive weight loss drug news on vikings patients on viking's oral drug losing a plus ibo adJusting average of six point eight percent of their body weight on the highest dose at four weeks. But then the stock sold off. So let's let's figure out what's going on here. Gear holes is healthcare sector strategists at mazoe. And here you argue that, that overall, the news was actually pretty good on viking.

Ryan, thanks. We're haven't and I appreciated. Yeah, I think on the surface, the data, we're good. I mean, IT was kind of a iteration of what the company had said about this program over to the past couple weeks.

And the stock had done really, really well coming into this medical meeting that they're having now where that you know where more data kind of came out. I think the fact the stock had been on a nice run. And then on the flip side, there is so much more competitive data out there.

Air senta had some oral data, I think that a contributing factor to the weakness today. And then as students, we have anything good and health care. You know, investors kind of look at the negative side of the equation as well, know a lot of costs with respective development of manufacturing, and the competitive landscape is obviously very stronger here, too. So I think all those things were factors today.

So jar, when you look at this, just give us the the game play for the advertising. Or when I first started, you had lilly, then you had novo and now it's viking amgen and you just named a couple of other names as well. How does the person whose six degrees of separation or maybe three degrees of separation away from this trade, the space still I don't .

know actually um it's a it's a great question. I mean, this is A A game of lady frag IT seems not in perpetuity, but at least over the next couple of years, I think you've got to have you know from a trading stamp point, I think you've got to have one lead horse that you go with that could be lilly. That could be no depending on the day, depending on valuation, depending on what the catalyst path looks like.

So one of those, I think is is probably worth owning kind of IT all times because they're the market leaders and will be for a while. And then I think you've got to just go down cap and find a couple of players that you believe might be instrumental over the long term. So a viking, a structure, a turns and all to a corby.

There's a bunch these kind of much smaller players and bio attack. So pick a couple of those. I mean, I might be one of them, you know maybe get lucky with data or an acquisition, but I think you've got to have one lead horse and that may be a couple of these smaller cap biotech stocks to own. So Jerry.

um in terms of the data day action, we know that had earnings on the twenty four and IT popped essential from sixty to eighty, and now we've retrace that entire move. There's two types of weakness. Weakness take advantage of and weakness stay away from. Would you buy into this weakness or would you stay wherever?

Yeah, Carter, I think you buy IT. You know this is still one of the Better obesity names in the category. The data that they've shown an excEllent we're in a little bit of a news vacuum as they move forward here into a larger face to trial and try to get this drug on the market kind of some time in the two thousand twenty eight, twenty nine time framework.

So there's a lot of time in between. But look at what's happened to the valuation of the bigger players here. Theyve exploded. And so a seven billion dollar cap for what could be you know maybe the third drug in this class um is probably a bier.

So Jerry, but what happens then if mark comes in in by biking? And again, I have actually a position of hiking, so disclose on that. But IT seems to me this outrageous move you're seen in no go and lilly at some more competitors of scale means that this this two horse race is something that I think and you can make an argument on the charge, maybe cards get up, we're done.

But if those are charged that have broken down or at least don't have the same gusta. So again, mark steps in is as a distant number three. With viking closing, the gap is not bad for the whole space evaluation was yeah tama.

I don't know.

I know some of that depends on you if a marker another company were to come in here for revising what they pay for IT. Um you know vikings talked about partnerships in the past. Maybe you get a joint venture, you don't get a straight take up.

But let's just assume I does get bored. I mean, if it's if it's a double from here, if mark decides that they want to pay fifteen for the company out, right? And then put in you know the the time and resources into manufacturing and commercializing this product.

Um is IT capped the space? I would argue that probable be pretty good for a number the smaller players. I mean, I think lilly and novo would probably be down on that news because you would have know a much bigger company marketing the drug. So i'd be more wary of owning illative or novo on that. Then I wait, biotech, I think you know for for a take out situation like your calling for it's tough to make a barish case and biotech, i'd be just more leery on farmer yeah.

your host, thank you for making some sense. Seven and another some people out there were a bit confused. We appreciated alright, coming up. Golden gains are high home silver, with the chart master right here seizing the technicals of the precious metal trade.

I walk back to fast money gold miners hitting a key tactical level, Carter, versus down to the golden penny with a cover. But there was expense.

Put more copper in the coinage. I bought .

A A A A inflation .

in different way. Anyway, let's get to IT. So um the uncontested winner, this year's precious metals and everyone knows IT h let's just put up on the screen and see IT in sort of black and White year to date.

You've got silver behind that is gold behind that is the S N P. Behind that is cues, of course, bringing up the rear feebly is small cm I W M. But it's right on top, silver, the beta trade with impressive mentals gold.

Behind IT two comparative charts. This is a five year comparative chart of GLD vers G D X, the metal verse of the miners, they are deadly even, actually one hundred and twenty percent even. And five years now, of course, the long term story is much different.

If you're look at the philadephia semi upsuck philadephia goal, the miners stocks index versus the metal, you've got a blow way. And that users, the problem or the opportunity, do you play the miners here for the real long term catchup? Finally, let's look at gtx.

This is the instrument. You can trade a chart. One of two, they're both identical, very orly drawed down.

Six of them, all about two weeks in duration, all about nine, ten percent. A second generation of this chart. We are down to the penny to that.

Well, to find up trainline expect all year by a fair bounce that my thought final chart look at, gold miners, gold mining stocks relative to stocks. This is a racial chart. IT is depict G, D X relative S P Y. I gives you a relative strength line on relative performance. We are making a turn a buyer of G D X.

And I completely agree with you here. Just to go back even to one of our earlier conversations and really looking at the longer term, treasuries rising because I really expected the inflation may start to kick in here again. That's where gold actually can be well position. And especially gold miners, I think, are not necessarily following that, trying to absolutely something want to take advantage of.

And also interesting. Ly, of course, with this dollars strength, gold has held up like a rock chap, very important.

alright. Copper, worth that was great. Thank you very much. That is your final trade.

Or a final trade time, tim, see more your boat and why don't you to whole Michael bay?

Yes, i'm looking for wall. I'm voting for you Brown as a film and you're always top of the charge teer. But I talent tier also is top of the charge in terms of A I plays this year that have done well. Big number consolation energy.

We talked a lot about what was going on of the nuclear space. They going to buy .

that minors. G, X, will get you done.

I got saying ahead to say that the row cu, big dip on earnings, i'm looking for a bounce. It's a trade. It's not an investment.

I yes, I was. I was a great show. Thanks to take an easy on the last few days. Men will be back. We get, by the way, the election, everybody out there, peace, I mad money with gym creamer begins right now.

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