Dow, S&P 500 and Nasdaq jump to record highs after Trump win. Plus, what the victory means for Tesla 11/6/24
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Large than as as market size in the heart of new york cyr time square. This is fast money. Here's what's on tap tonight, surging to records former president trump, once again a present elect trump, the election results that banks ripped to new highs, industrial transports, travel even tag twenty, today's monster rally, can this last or will tarifa trade tears in the euphoria will be the base that, plus the must trade, all things in the elon universe of rocketing higher from tesla, decrypt to the finance, grow trade. Shoot everything in elan's.

Orban, the on your by list, and later another super meltdown for super microbe, while shares of novo notice had gone on a diet in the last two months. And what's fine? Housing getting haward ahead of the feed decision. I'm military, come to your life and city of bath and assad on the death c or current final and danaan and guy ami. And we start off with what might be a bit of post election euphoria.

Socks surging to new records after Donald trump was reelected president, that out jumping more than fifteen hundred points, its biggest April twenty twenty the zi C M P also heading all time highs, while the small c russel, two thousand, five point eight percent deposits, highest clothes in nearly three years. Take a look at some of the sectors seeing the biggest gains. Bank stocks rilling on hopes looser regulation spur IPO and ma energy up two as expectations for oil friendly policies rise.

And big tech also sharply hired LED by games and tesla and invidia, but IT wasn't Green across the board socks to stand to take a hit from increased terabits like dollar tree, dollar gen, both dropping sharply along with the retail across board, saying with solar stocks and cannabis names. But can today's market momentum be sustained while the policies the market seems to be hoping for play out in reality? Guy, what do you?

Fascinating in the couple. A lot of things to watch. Two things I watch most of the bond market which will talk about. And then the rustle, you mentioned small caps.

I mean, let's spin the final piece to this puzzle where the small caps finally making all time high and we've got close. I think the prior high was november of twenty, twenty one. Here we are within, you know, a few hours of that level, that sort of, I think, the catalyst for everything else. But to answer your question specifically, mean, it's a pretty remarkable moves, some really outside moves on some huge volumes that typically suggestion of a little bit of what we call blow off top and in some individual names, that might be the case. But it's hard to argue with just sort of the lower left, upper right we've been enjoying or I shouldn't say we other people i've been enjoying for quite some time.

IT could be the certainty of the election. IT could be trump policy. Specifically, we are entering op period where seasonally comes to place in novembers, a huge buyback month.

Also for companies, november on its zone would have been a reason, along with the fed cutting and what we've got ten for learning season, which I think has been sold, sold enough. And but I think you got the the red sweet dynamic, which I know is still not official and maybe it's not.

But if you look at what the market did from almost seven thirty pm last night or eight o'clock, when florida started to give a window into what might happen in other battle grounds, and I know florida was not supposed to be battle grounds, but certain counties were a read on where you were going to see possibly a change in the vote. The reason not bring all this is up is is because you you had to move in S P. Futures largely went sideways for the rest of the night at to move in the ten year, which largely went sideways all the way through today.

But the difference between where we were, whether is at ten thirty last night or two thirty the morning, is when you started to sniff out that this could be a clean sweep is when I think the market started to take that next like higher. What's interesting to me though is that the things that moved both last night and today, or in all the same, are largely in the same things that had been out performing. Look at the banks, look at financials, look at where we seen some of the industrial, look at airlines.

I mean, he was as if this was a ratification of a rally that was already underway. Will talk. We have talked what was already Priced in with bedding markets. Crypto markets seem to have called IT. Um I think these other stocks have been calling IT as well.

I mean, IT was really fascinating how all of the pieces that seem to be reflecting what we think is the Mandate from trump. But you had some lower regulation banks that's big for banks, not just from a regulatory standpoint, maybe a capital standpoint as well, easier to run their business. banks.

We know i've been talked about talking about how constrained they feel by what they see is a more impressive regulations. But also for the rest of their businesses like ema, which maybe will be different. Um and then for asset worth managing, to extent the market goes up, we've seen that that's good as well.

Some of the ones are interesting to me where the flip side, the rats, for example, if you're highly indebted rates, higher rates, um that's not a great thing. And we saw rates really move a lot, tim tok rate, but they continue to move. That was for some really, really big moves.

And then um the other the mix on things that are in the retail space, whether or not you import right and what i'll happened there. But for some other companies, you if taxes are lower, then that's good for their bottom line, right? Corner taxes, coral taxes.

Well, I don't know what sort of fascinating to see all those things happened. And then crypto as well. The other thing was interesting to me is the magnitude de of the move and how IT wasn't Priced in, right? Some of the socks rise.

and we thought always IT anticipating a win. And yet IT hasn't. Obviously, because of today's move.

that was sort of amazing in the magnus de, in so many areas with .

what sticks out to me.

Know, one of the first tweet that I saw, some afford to me, was like from jeff basics, right? We know he's not the CEO anymore of amazon, but he also had a bit of a target on his back going back years ago, right? So trump had a very after a little coding of the tech community and and really just, I guess, the CEO community and generally they set up all the CEO councils, but they quickly moved against them for policy that actually didn't have a whole has come a lot to do with the economy at the time.

Now they they did move against him on some of that stuff later, but now everybody's just fall in line, you know. And I think interesting I think he knows a lot more about how to deal with these sorts of folks. And I think it's interesting that like you, based on all these other things, there's just been really quiet this whole period.

I think they are more worried about the implications on their companies if they came out funny like jammy time is a great example. So he wouldn't say word going back to davos know he said, well, there's a good things that were doing. That's fine.

He has a massive fiduciary responsibility to do that. But he's also the sort of guy that disavow january six, right? And we saw a lot, the muslim people forget that was right after the inauguration.

There was like a million people marching in new york, and there were lots of CEO that joined that sort, of course. So I think what's interesting going forward for this next four years is that he's got all those guys in his pocket. He's got the supreme court in pocket, he got the house and he's got the senate. And I think that's what's really different this time about what we are going to expect going forward because you know, there's nothing holding back, there's no checks, there's no baLances, there's nothing. It's just him and there's no one will .

understand his way in terms of the market would potentially could evaluations. And we say all the time you it's not timing mechanism and we're not saying IT is. But for example, warn buffs cash position to burka half way is now three hundred and twenty five billion dollars with A, B, the largest it's ever bit.

And that's been being built over the last six months or so in the form of obviously selling off apple, probably a positioning thing, but bank americans, some other names. So one has to wonder what is cc? And i'll sort of try to answer my own question.

He sees now his indicator, the willsher five thousand divided by GDP is now north of two hundred and three percent. And for context, IT flashes red for him at about one hundred and thirty percent. So when you talking about two or three standard deviations away evaluation at something, be concerned about. Now, again, nobody cares right now about that stuff. But at a certain point, especially if yields continue move hired, like I think they will, the market will start.

I'd look at both what the bond market is done and obviously, the equity bond yield or ten year yields, whatever you're looking at relationship and where IT starts to matter for equity is also part of the fascination here. Also interesting to hear at prognostication on okay. So we have some policy ideas.

We've certainly heard a bet terrorist um if you get sixty percent on china and if you get ten percent on the rest of the world and those are numbers that we're thrown out there doesn't mean that they're onna happen, but you're starting to get strategists and economy there. Well, that's actually a one percent drag, a one point drag on GDP by twenty six. It's a six percent hit to corporate profits by twenty six.

I mean, there are dynamics that the market can start to rustle with in the short run. I bring you back to november, I bring you back to positioning and I bring you back to I think that despite warn who you should always be listening to and his conservatism will prove right, i'm sure at some point, I think a lot of people are upsides. I think there's a squeak in the year, and I think there's a lot of people that are panicking.

I think there's a Green light. Everything with the deficit, everything with the yields and everything with the dollar. And seems that, that indicates that could be bigger issues don't happen in the next two months.

So gets back to where traders right now. And I think, again, follow the path of where made a call. I think some of that call actually translates into a risk.

I how many market participants have we had on C M. C leading up to the election saying that they are do risking they are advising clients to do risk and that we are preparing for a prolong ged election where we don't even know the results the next day. Maybe weeks afterwards. And here we are. There was certainly pretty early on in the markets as to tims point, not ready for .

that transfer.

saw the fix come in twenty percent. That's a very big move. I do think that someone under underpinning the rally that there are certainty, at least on who the winners yeah.

all right. Our next guess says regardless of the senate house outcome, there will be large implications for the deficit. Let's bring in every call.

I, S. I. Sarah bianchi, Sarah, great to have you with us. I do not want to get to the deficit and we are just talking about boniest. But know in terms of in terms of terrorists, that seems to be sort of the looming issue here over this you know you fox stock market rally here.

What could that be? We've seen a lot of estimates from folks like the of saying it's going add ten percent of the Price of cloth, thirty three percent of the Price of toys. What do you how do you think that plays out?

Well, I do think that are the a second trump term will be very aggressive on terrify. I agree that he is not going to implement sixty percent across the board imports um on all imports from china or ten percent across the board. But last time president trump took the terra all in in china from three percent to ten percent and I expect it'll be equally as aggressive this time, if not more so.

I do think that they'll focus on particular sectors as they did last time and leave some of the consumer stocks, uh, perhaps alone. But I do think there's gonna very aggressive. And we think that, uh, the trump trade team knows exactly what is doing this time.

IT knows exactly where the authorities are, and we think most of IT can happen without congresses approval. Ah so we think they will move quickly on a three o one on china and then start focusing whether it's on steel or the digital tax with europe or mexico. As the president uh said just A A few days ago on the campaign trail, we think they are going to be faster, furious here and everybody should be on alert.

Sir, it's time. Thanks for journals from your policy perch a how about the fed and how bad what washington thinking about an independent central bank, but now has a different at least dynamics to really do deal with I mean the the prospect of this there was the prospect of of depth t unfriendly and inflation and higher yells. What do you think is anything changed for the fed tomorrow? Could we get a statement that at least is now reflective of a new paradise in politics?

I believe that president trump, in his second term, will really stay within the band, large and norms, in and around of the fed. Obviously, unlike other, he's chosen to job bone the fed before and be critical publicly. We don't typically see that from republicans or democrats but I don't really uh my base case at least is that he's not going to do things like a threatened fire power or talk about, uh, how he needs, uh uh any kind of authority of there that our base case we also think of that i'll have at least a treasury secretary that is friendly, two financial markets but there are of course, real risks of that. That is not the path he goes down. And again, we do believe there will be a very, very active a group with inside the White house in the cabinet, very, very focused on terrace and immigration, which h lead to things in our estimates around inflation and growth that the feds gonna have to take a real look at.

So is any talk down there in terms of what potentially could, if IT, does this potentially give a Green light for china to do something in taiwan? Is that not something like people's ad or screen?

I think china's been very much thinking about and preparing for both outcomes uh here and IT knows with really both administrations what I was gonna get um I do think there is a lot of strategic thinking in china about how they will approach a second trump term uh in in around terrorists, export controls and a range of other things.

My own view, a lot of different views on this sin washington, uh, is that taiwan, uh and any kind of invasion or uh aggressive action there is not on the top of the list. We should certainly all hope so. Uh, I think that uh, they are uh in their own set of chAllenges right now. Uh, and they have now have to figure out how to deal with again what is likely to be another trade war and terrible with the united states. So it's can thanks .

for being on today. So you said if they do some of these, what could be inflationary policies? The feds can have to look at that. But we are we're obviously, we're dealing with monitary policy and fiscal policy.

What do you do if you're the fed and you only have the tools that are available to you, do you ignore that? What do you do? How do they well.

I think generally what you see the fed uh, do is weight, in fact, until they see data and policy. So they are not going to be reacting today or tomorrow or really in in january. You're gonna wait and see the data.

Uh, what policies are implemented and what the implications are. H on inflation, we know with president trump there's a lot of a reti C H. There's a lot of back and forth ah he likes to negotiate by starting really large and then coming backwards.

So I think they're a way and see how this actually place through the economy and what economic data they see and you'll make any decision, uh, accordingly. Uh but the markets businesses, you already saw uh, the national retail federation coming down today saying watch out with these terms. So the rest of washington is getting up for a fight.

So I are great to have you with us. Thank you. therapy. Cy, eric R. S, I, but I mean, time starting to a new all time high in the back of the election results, jumping into more than seventy six thousand dollars, traders expecting a more cyp to friendly administration come january. The dollar also getting a bump on hopes of a more protections trade policy from the president elect. So we saw the coral li reaction to the dollar strength, weakness in other currencies, weakness in a commodity soft as well as hard ah and waiting in gold.

And again, gold gave up a lot of ground and certainly rally on the lack of predictability to whats going on. IT had just A A massive run. So I actually buyer of weakness in in gold probably should surprise people. I am pretty blasting gold. I think even some of the things that, that happened last night give you reason to be bullish.

And gold, I think overall, you've got a dynamic commodities where I thought coppers moved today was interesting because it's signal to me more concern if copper is a doctor or in terms of the the health of the overall economy. IT wasn't really a great day was IT. And IT wasn't a sense that you got from looking at some of the material s names that, that won't necessary be in the midst of some kind of a tariff war.

They didn't trade well. They didn't speak well about the economy, the equities, including industrials and parts of the economy that our traditional economy stocks loved. IT, yeah.

interesting. They're go back to china. And that last conversation, I mean, think about the chinese their meeting this week and know we might see more stimulus.

You would think that, that might be the sort that we get something commodities going. It's been there. What third kind of about of IT over then at last two months to show?

I also mention taiwan semi to guys is question that he has for Sarah. This stock was one of the few that was down in in the mega cap, Sunny space and tech in general. So again, maybe some trepidation there.

And then this was kind of curious to me. I don't know if you guys can explain this, why was the k web down? You know, saw barba you up, down, down. So you saw a lot of chinese consumer facing internet names down. So all science really appear that we are going to see some ratched ratched at tension. And the last thing i'll just say, I know we're connecting a lot of that here, but north korean soldiers entering the phrase with russia, that's a complicated case because we did have china a lot of that dialogue was also dealing with north korea lot. And I wonder if that was just a wedge to kind of get some sort of you should go in ukraine, right?

Let's get to a earnings list here. We ve got a huge move in shares of lift on strong guidance from the company after our huge roster got all the details. debo.

Hi males. Those shares are surging. IT is still a much smaller, less profitable, less diversified right and play. There was a lower barb, but investors very encouraged by the more than thirty two percent revenue growth, Better guidance and free cash flow.

A sweet of a video this morning and a dordain partnership there was announced a few weeks ago, now coming into the print chairs were down four percent year to date versus uber gain about twenty percent. Hanging over the ride chair complex more broadly, is the threat of robot taxi. Do they eventually kill off writing altogether? Or can the platforms incorporate the mos and cruizers and others that will come out in that right in that robot taxi space?

I spoke to see how David Richard about the results, and I asked him about that dash partnership. He said there's overlap between the two customers that it's smaller than people think, and I will drive bookings over time and it'll drive right frequency art seeing, he says, quick adoption of linked accounts. Guys, the CFO that call the earnings call is on going right now. The CFO is talking and they haven't quite got to Q N A yet, but will continue monitoring IT.

Now r debo, thank you. Keep us posted, dear. Or bota on shares of lift.

which is, of course.

yes yes. L in l so weird.

so weird. I know what that name is, what IT means. But but lift those partnerships, the door of partnership that has been the story for uber, which at one point, of course, was the albatross for uber, which was that is too complicated.

One of the pure play people wanted lift at one point, the Normalization to me and the margin story and the kind of the recovery demand is again, another one of these stories, I think, is slowly happening across a couple of other places, especially both in industrial and transportation. So think the live story, I think the the driverless car dynamic and where that was a threat actually might actually be an ally at this point. I'm not sure lift should be responding one way or another. They should care a lot more about getting this business close to as profitable from a margin perspective of zuber.

I think you stay on. Mark meaney, a wild on we had a want to show like months ago, said that autonomous driving is actually a very good thing for uber and lift. And under a trumpet administration, there is a belief that fsd full self driving would be fast track, which could, in theory, if that is the case, benefit these guys a little.

that without question, ubi de to speak self. So maybe it's some opportunity there. But now if you trying to figure out to think where to take profits and lift, look at the march high is saying was about twenty hours and eighty five cents.

I mean, where we about seventeen and half. Now there's still some upside. But that sort of you boy.

I think coming up more market reaction to the election, bank stocks, the ripping higher on the regulation hopes, just how much could the financial trade benefit that's next? And we're watching the map hours, earnings action, shares of call, common and ARM holding just reporting results, having an offer directions, details from those quarters from fast money return.

Cnbc has quick and easy to understand business news updates at the open midday and close every weekday. Markets, money and more from wall street to main street. I'm cnbc Jessica, adding to follow and listen to C, N, B, C. Business news updates wherever you get your podcasts.

Welcome back to fast money bank socks going ballistic on the back of a truck presidential Victory, the regionals leaving the way, boosted by massive gains in names like webster, first horizon, zion citizens, financial and hunting and bank chairs as investors gear up for the potential of loser regulations in a surge of M. A. In the space. Leslie pickers got more on this reaction in these banks.

Lesser, hey, man. Ironically, today's thirteen plus percent surge in the Carry is the best moves since november eighth, twenty twenty, which was, of course, a few days after biding was elected president. At that time, the care researched fifteen and a half percent, largely due to a jump in bond yells.

Now today's strength comes after gains in recent weeks that put the cary back above levels right before the mini crisis in the spring of twenty twenty three. And as you mention, melt, the regulation is a key theme here. kb.

w. Identified eight agencies relevant to the industry that could see changes at the top on day. One of a new administration watering down of current regulations on banks is expected to impact everything from the consumer financial protection buro capital rules to interact industry mergers.

However, just like four years ago, there was also a set off in bonds today. The moves, particularly at the long end of the curve, a stem from concerns about higher deficits and sticky inflation. And while a steeper yield curve could benefit bank margins, higher for longer rates could also pose chAllenges to create quality and unrealized baLance sheet losses.

And S, K, B, W notes today is, quote, understandable. Major reaction brings the group to about one to two percent from historical multiples. Reading the question of whether investors want to be chasing the rally from here now.

alright, lesly, thank you. Lesly picker Karen is interesting. The reactions were very similar to when biden was reelected. So what is different today that makes this rally may be more sustainable?

Perhaps it's like a pass over quest. Why is the I different in the okay, i'm not really sure why it's gift that, that surprised me that statistics. But I think today, I mean, so so many friends we talked about before about the economy being Better and less regulations that maybe more m and a, then there's the yield curve part and that has generally been Better to less the support.

Everything is important. One bank of amErica was up less than the group because remember, they do have that very big hold maturity that with the move that we've seen in rates, that's not really helping them. So for me, I mean, i'm happy to work size position, but I would not chase IT here. Actually, I would probably be looking to sell some upside calls.

So you know, that expression is not a possible expression, but history, rimes no mean, often doesn't repeat. Think about the deregulation, the rollback of the Frank in two thousand and eighteen under former president trumps administration, that LED to the very rules that allowed sv b and some of these other regional banks to Operate under different like regulations that ultimately were their failure.

So think about what's going on here with the area. You think about these mega cap banks. What does that mean that this could be a free fall or we going to have the sort of practices that LED that? What things?

So to me, I think that we think about regulation over the last twenty years, there's actually been some guard rails around this thing. You see the sort of performance today that doesn't feel natural to see some of these banks the size of they are moving in that direction at that you know, speed. I that's fair.

Um I think getting back to what drives bank earnings, I look at, first of all, title credit beds or something else that I think you're also a relief for a lot of these banks that concerns. But steep yal curve is a big deal. And I do think higher rates ultimately is is very good for net interest income, which was under the spotlight. I think banks go hard .

coming after she's a quite common ARM holdings moving after hours, the numbers up of the quarters at more in the whole semi trade. Next plus a must could play a key role in presence, let crops next administration, just how does the test of you send to benefit for him and his businesses watching fast money life in that market in time square after 不对。

Welcome back to fast money, qualm and ARM holdings, both on the move after reporting earnings. Those conference calls now under way. Our sumer motives at the very latest on this pair of chip stocks.

A we've been on both earnings calls. Mail are starting with com shares are higher, delivering strong guy and for the first quarter, raising hopes that the smart tfl market is recovering. That is where qualcomm make sixty five percent of its sales.

IT signs five g chips for apple and large players across china co cusiana, not underscoring the efforts to diversify with bets on auto and I O T paying off. And he says he wants to develop the computing company for the age of A I four quarter sales in its Q C T business at encompasses everything from circuits for mobile devices to IoT rose eighteen percent every year. The my doctor did surprise the street with fifteen billion dollar buyback and shares are higher.

But let's move to ARM, holding strong results and inline guidance. Not enough to feel to stop. Keep in mind the bar was high, which shares rally nearly a hundred percent this year.

Soft bank took a public in late twenty twenty three, and it's been a winning trace seen as a way to get exposure. Artificial intelligence and C E. Rena haz on the call says strong licensing revenue shows that his customers are continuing to invest in the future of AI, but the stock still down about four percent. Well said, will be looking for more comment on the CEO tomorrow on squad on the streets.

See me. Thank you. See my mode. A your pic guy. ARM or evaluation. It's been now IT .

hasn't been a great trade recently. I mean, quality comes come off considerably, but I should this quarter should set IT up to test those eyes we saw on me. But ARM holding, which is it's an important company, look at IT just terms of Price to sales.

I mean, this company, maybe to five billion dollars next year, trades to one hundred fifty billion dollar cap. I mean, it's extraordinary in terms of that metric. Then you look at bernstein, who does a great job in a space have one hundred of Price target on this stock.

And quite honestly, that makes sense. So as greatest IT is it's too expensive. I think cocom given a game of would you rather mms.

qualcomm, uh, in a world where maybe in the next couple years you could see coal com back with intel? I mean other's we we live in a world where it's people starting to think about com in a different way, coal com also where the diversity there is not just mark phone, it's not just a ipc. I mean it's it's internet things.

It's auto, its industrial. And I agree with guy, I think this thing could trade with the twenty times multiplies now around sixteen times. I think there's room for upside. And I think it's it's one of these names that probably is more in play in that space and some of the ones that have been .

for A I the move in til today, seven. yeah.

I mean, I I think there when these rumors came out and I think quite am said they're onna wait to really explore this until after the election. That makes perfect sense. I think what tim said about A I P C S is very interesting.

It's a very nicely right now. And so that could be something that their snaps drag chip is position for fifty percent of their cells, though, is apple and samsung. When you look at the just the guidance that we heard out of apple IT was kind of tepid. Samsung hasn't had too many things to say. So maybe this is a bit of a leading indicator.

Yeah, that's just thinking for apple as well. I mean, you IT reacted a little bit. Not a lot.

I was up. I don't know a buck, I would thought would be up more than that. But that was to me where .

to I read through yeah, I liked that their person in the after our session, of course he did because everyone does you know, we can connect us on the apple.

There are lot across currency without question, but I think that does at some point IT does go back to valuation. And again, i've been so wrong and itself for so long, but if you want to play a little stock market here.

there's no difference. People guy third in .

sale and just IT doesn't mean they're fixed by any stretch, but you can actually get some beta understand lt trade coming up.

the musk trade, how elan is poised to benefit after president elect trump s Victory and what the results could mean for tesla as regulation road box plus shares. Another notice dropping after its earnings report this morning, the results that had the farmer name heading lower to go eating where fast one is back into. Mr.

a moment of fast catches any time on the go followed the fast .

money podcast. We're back right after this.

Walk back to fast money. Thoughts are ripping higher after present elections. Ald trump defeated by ice present kamala Harris, the dw, sp and nzz ac all closing at record highs, with the dw surging fifteen hundred points, the S, V, P two and a half percent in the tech heavy NASA surging nearly three percent, shares of S M C I dropping eighteen percent.

Though super micro, the company reporting unaudited quarterly results yesterday, I didn't say when IT would file its report for the last fiscal year. The company's auditor earns and Young resign last week, and trust media pairing early gains, but still closing about six percent higher. The stock had been up nearly thirty five percent after president trumps win, when investors are betting trumps Victory could deliver a big win to the so called elan musk trade, tesla share soaring nearly fifteen percent.

The fifty two week, yes, today, with the presence of ex al expected to benefit under the next administration. Fila, bog scot, the details here. Hey phil.

Hey melisa. I want to show that chart again that you guys we're just showing this is what shares of tesla did today with the surgeon greater than fifteen percent. The reason i'm showing you this shares of tesla have not been this.

I know that their annual sales, but shares of tesler have not been this high since twenty twenty two. And iron mosque at his relationship with president electronic is the primary reason their shares of tesla. Take a look at the tweet that was sent out as a tweet, the post that was on x from elon mosque last night.

He is with the president as they were waiting for the returns to come in down in florida. You know what he wrote there? It's gonna be so hot when you've got the air of the president intellect.

Things are certainly going to be cooking for you. And if you're looking at tesla as an investment, here's the reason the stock is moving higher right now. First of all, there is the niza influence being limited factor.

Nitta did not have a whole lot of influence under the first trumpet administration is expected to be a similar story this time around. And that impacts robot taxi development. Elon musk is going to want to put these out there in development and in test mode, whether it's in texas or some other state, as quickly as possible.

And if mitter is not going to be jumping on them, well, that means robot tanks I development could be accelerated. And that's important because even though annual sales in this church were increasing this year, they're expected to be generally considered flat, maybe in slightly lower than last year. The real juice behind tesla the shares has been the optimism about robot taxi.

Finally, I want to show you the other E. V stocks today. They were all down considerably. Well, test the was up fifteen percent.

why? Some of this is the chinese E V play, where people are like where they're never going to sell in the us. Under the trumpet. And Vivian IT has its own situations that he has to deal with.

And the concern that if you are not tesla and the E, V, incentives go away, not only for sales of electric vehicles, but also manufacturing well, then IT becomes much tougher for you. And finally, take a look at the E. V charging stocks.

Brutal, brutal day for these guys. why? Because the inflation reduction act had so much money that was going into the development of public charging stations.

Now that's likely going to continue in some fashion under the trumpet administration, at least that the expectation, but certainly not to the degree that IT was under the bite administration. Perfect time for us to be heading down to central elinor y tomorrow for the two three results from revision. We will be talking exclusively tomorrow afternoon with R J carrageen CEO riva millican. You don't want to miss what he has to say. Interesting time to be riviere or any of the other .

EV companies you feel. Thank you. Feel lets get IT more knowledge gin monster or managing partner at deep water asset management gene. thanks. We're joining us as always, feel walk through a lot of the stock market reaction, which is the initial reaction, how much of what we've seen is valid. Well, I think .

today just I fill nailed in terms of the reason for the move here. I think there's also this piece of this mean stack part, which of the fifteen percent there is some percent that was just a halo around elan, and elan made a big bet around trump is next big bets? Uh, autonomy and the probability that, that successful goes up a little bit.

Um as far as how much that sustainable, I mean, the shoot investor would say, well, what is the real play? What's the opportunity? And we've kind of outline these numbers.

But just to recap is that if tesla gains fifty percent share of the us. Ride sharing market by twenty thirty, which actually I think is as a reasonable target, will save that discussion for another day. But that would end about twenty percent to Operate an income.

And so stacks up fifteen percent. That has twenty percent. Now they can take this another parts of the world, but a lot of IT got Priced in.

And hurry am a big believer in what that means. The one piece that maybe wasn't Priced in the is that if they sell more robot taxi, you is talking about two to four million a year. Ultimately, i'll be about a third of total tesla deliveries.

I'll take the other on that. I think it's probably closer to one or two, but that's another peace. So molests any answer question, I think that is kind of fairly reflected or started to prince some of the robot taxi opportunity.

yeah. And then that's where analysts in so many wall street s got so bullish up to that cyber cap event. That's where they sort of said the market cap could be X, Y, Z above what IT is right now in terms of the of some of the other parts of must empire like space X.

I mean, trump is said we will put an american astronaut on the moon uh, thanks to you know, with thanks, elon. I think something like that. And I wondering if you think that, that there will be other impacts here that we are not even seeing, whether be twitter or SpaceX or some of the other ventures he has.

Well, he's got the golden touch right now and has the year. And so I think that, yes, there are going to be space is a clear beneficiary here. They feel talking about potential that there is going to the tax credits are going to go away around dvs.

Maybe they you actually take around for a longer then expected. And uh, so there might be another uh angle around tesla as far as what's going on with uh egg's and twitter that pieces that there's probably a benefit just around his ability um to continue to grow that platform. Just kind of more free speech type world than unless they don't forget about A X I A I I mean, uh the whole A I P this uh potential round, some regulation round AI diminish today.

And so I think that, that this is still going to be peddled to the metal in terms of what it's infrastructure that's going to be built in. They just raised a bunch of money, obviously, X, A, I, and I think it's that should bold well. So i'm stretch to try to find out how this could play out negative for elan.

What if he steps down and he becomes a chief efficiency officer, whatever that that office can be called? I mean, would that be a negative for .

test a stock as long as he's showing his face and on earning? And there's a perception that he is um a part of this that's probably five, ten hours a week. I think investors are going to be OK with that because they've just grown desensitize to the number of things that he has going on by my last count, five companies.

And now you add this to IT. I think that there is kind of a point where people just fall back on he's done IT before and i'll be able to continue to do IT. So any Normal person this would be tesla sold off and said they're gonna spending some time working in the government. But um this isn't any Normal person.

I mean, I guess maybe it's fitting that he becomes the chief efficiency officer. He can do so much and so little time. Thank you, gene. Gene monster. I mean, even aside from the movement tesla today, they kept tech overall.

A very good day. Yes, very good. I I mean, one thing about test particular like the potential conflicts of interest, half their cars manufactured in sold in china at a time where you know they just be ideas kicking their about in china.

They sold three point two million cars in china through october where you know elan or tesla has sold seven hundred fifty thousand. So we have this Price we're going on. Truck also said that the first day in office, he's going to get rid of these E V tax credit.

If that happens, then we have just more pricing issues, right? Because they can't sell the cars without the EV tax credit. And I just think that's a difficulty using. So to me, I don't think tesla is too interesting the way it's rally over the .

last couple weeks or the competition goes away IT further weakens the competition and tesla has a scale to actually survive in that sort of environment.

right? I know that sort of the argument and can see why yeah if they have and they have the baLance, try to do IT to with them up for a while. But i'll be interesting to .

see coming up a goby maybe packing on the pounds and sales. The cheers have never in order, still thinking out the results that has this named in the red max will discuss that when fast money returns.

Welcome back to fast money. We've got a buz kill a novo. Notice us listed chairs of the obesity drug giant slipping today after q 3 earnings report， the companies and results broadly in line with expectation shares sales excuse me, a weight loss drug waigel e up seventy nine percent from a year ago, but novo narrow guidance for full year sales growth, sending shares down more than four percent over epic was the miss versus analyst expectations. And this is follows, of course, the disapointment that we saw in lily's report.

right? So it's a question of is that what why why the man is IT? A demand issue that would be the most concerning thing is that unable to fulfill supply that something that you can live with seems okay as long as to band is still there. But um going back to lilly, they didn't do a great job explaining that now. So we sort of unclear and I don't know if novo made .

IT any more clear with the situation.

I just look, I don't know it's a bit of a proxy, maybe it's a great one, but I mean, that's used to be doing Better.

right, lily?

And well.

August ah that August .

5 think we flag seven seventy five that's exactly where are close and full disclosure。 I thought I would hold about a week or so ago at that sort of eight eighty five level, which was support. That didn't happen.

I think what's happening here is, you know, the growth side of the equation may be waning. Now people are looking evaluations, which quite Frankly, you've never made sense, but more so of the growth is gonna be there. And to current point, ricks did not do a good job explaining some of the issues that were there and nobody neither. So maybe the problems with this .

thread yeah quietly both those charges first will novo of, if you like, the old heads and shelter formation. You're actually seeing that player. It's it's actually back down your level but quietly flat on the year. And you look at the midpoint of that guide, which is twenty five percent is is multiple something that that deserving of twenty five percent supposedly in the sweet spot of demand we note may not be where IT was a year ago, but it's absolutely evaluation coming up.

First, a presidential election. Now we've got a fed rate decision, what the central thing will do as yields and mortgage raise search fast. When is back to.

Welcome back to fast money housing stocks sitting out of the post trump win market rally in our dropping almost five percent of day. Dear horton, paul ty and told brothers also lower. The weakness coming as a thirty year fix mortgage rate jumped to seven point one three percent.

It's now around a four months. I can you believe that higher than when the fed started cutting rates? All is ahead of tomorrow speed decision. So what should we expect tomorrow? Not to mention rather way home dee boo in the likes also trading lower, right?

I think they are back themselves in the twenty five basis point cut. Mester talked about that parents spent on top this for a while. Where are not?

I think that just fine, doesn't matter. 对。 I still think ten new yields are going higher in the face of that. So the housing trade so are going paris shaped tier makes a little bit of sense.

Yeah that was surprised me. So we saw and even zero, which should now school dance tonight, but they got crash today and are so many yeah home deep lows, I don't think that turns around so quick and look .

at that yellow ve look at the stepdad again. Just if they're cutting in IT singing along and go higher. This is great for banks. I think home builders like they got a tremendous rally on the concept of rates go and lower like five different cycles. I think he's take clear.

And the big question, of course, is trump going to allow power to stay on and what does that do in markets uh, if he wants to replace power yeah I mean.

he's already made some comments that he wants to kind of post down on the skills as a relates to monetary policy. I mean, that probably wouldn't be a great idea. I mean, I think people done a very nice job. He did a point power. I would not stay the course of a bit.

Yeah I don't know what the mechanism is to get rid of him other than just sorted behind closed doors saying you're going to fall on the sort and step away and the administration sort of that I think pales here to fill out the duration of this term.

yeah. But I guess the question for mortgage rats is, will there continue to be sort of this huge disconnect between where they go versus what the fed is actually doing? Because I treating to there are two different pats.

S right? right? yeah. And I don't know what point. Well, I this is what we great answer to far as the way to see the data. But even if they think it's coming before they .

can do IT up next final traits.

Time with the final trade, tim.

I was a close one, a big move. And energy and oil services and slumbers needed that shot the ARM. By taking your time.

you are a great day to day. We don't need to chase IT weight. And I just wanted, say, happy universe to my, but I say the same thing every year I gonna tell I did not see this anniversary coming.

Oh.

very ono.

I think it's been deren trading at twenty five times next year. Expect twenty five percent.

He just, we all saw of coming .

and Carry out of coming.

Well, it's true love. absolutely. I saw gilly at coming on the get out.

Thank you watching fast one day back here tomorrow. Five more fast mad money with june craymer starts right now.

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