tv Fast Money CNBC December 18, 2019 5:00pm-6:00pm EST
i think tomorrow a little more economic input initial yams -- remember last week the unusual spike high ner jobless claims we want to see it calm down so it's not a trend. >> that does it for the show today. out of time thanks for watching "closing bell." >> and "fast money" begins right now. yes it does, contessa and wilf thank you very much in a snow nasdaq market site over looking times square. i'm brian sullivan if for melissa lee. traders are pete najarian. tim seymour and karen finerman and steve grasso ton and fast, a megachip rip micron shares surging in the after hours. the company reporting what it only be described as a blowout quarter. but is it worth your money still? we'll talk about it. plus tesla rocketing to a new all-time high. issue should you ride the rally or brake yourself for an electricslide in and later cal it a microscope on 34th street we tell you which retailer
spreads a little holiday chiara. very good holiday for this one name all right. that's not obviously all that's going on today so let us begin with the latest developments out of washington, d.c., we are looking at the live look at the house floor. lawmakers are closing in on a vote to impeach president trump. kayla tausche has the latest details. and the likely time line for you now, kayla. >> brian, there is roughly two hours left of debate and remarks from party leadership before the house takes up a vote on two articles of impeachment against the president of the united states we just heard from the two congressman from texas moments ago. republicans have lebron jamesly argued that president trump is falsely accused of wrong doing by a party who doesn't like him. democrats tried to argue that history will be on their side. a few moments ago we from justin amash who left the republican party earlier this year and may have presidential ambitions. he is going to be voting for
impeachment and says that president trump violated the public trust on this senate side, politico is reporting that white house counselor kellyanne conway met with republicans to share internal polling data that says impeachment is unpopular and president trump should be acquitted on the merits. cnbc has been asking republican senators about this meeting. but they say they will not comment on private conversations. president trump meanwhile on his way to battle creek, michigan, for a rally tonight. he did not stop to talk to reporters today about what's been transpiring here on capitol hill brey sfwloon kayla tausche with cnbc we'll see you again thank you. there is new polls on impeachment. lets get to john harwood with in washington with more. >> good evening, brian this story has sunk through the american public. we have the nbc/"wall street journal" poll shows it only 25% of american adults say
they think president trump did nothing wrong on ukraine 75% including almost half of republicans agree that he did something wrong. however, that does not translate into majority support for impeachment. we see a complete deadlock, 48% to 48%, each side saying 48% paying eeshd be impeached and removed. 48% saying he should not and that is not going to be enough to get a senate conviction, which democrats have been hoping for passing the impeachment articles tonight what does it mean for 2020 this is what's going to be significant we president trump is on the ballot next year facing a democratic nominee. only 34% of the american people say they will definitely vote for president trump while 48% say they will definitely vote against him. that's minus 14 for the president. another 18% points say it depends on the democratic nominee.
and that's the fight we see right now between joe biden elizabeth warren and bernie sanders. the story will be an important development tonight, impeachment in the house and senate trial. but that's hot the end of the story. >> no, it's not, john. a quick question, obviously the definitely yes and 18% said depends who he is running against. lets shift the 18% they don't like the candidate gives trump 52 of course if all the 18% shifted over how have the numbers -- you track them all the time. how have they changed if at all during this formal impeachment process. >> not that much what we saw was that in early october after the news of the ukraine scandal broke. you had 43% saying the president should be impeached and removed. a plurality against. then we saw in late october, after some of the news came out 49%, about half saying he should be impeached and removed
the numbers essentially unchanged. so support for pushing trump out through the impeachment process has risen slightly since the controversy over ukraine began but it has not broken out in a mayorum way. you still have pretty uniform democratic support for it. republican opposition, 907% of republicans say president trump should not be impeached. and removed from office. that's what he is counting on in the senate where there is 53 republican senators. as long as he can keep 20 from voting with the democrats he will finish out the term. >> john harwood thank you very much we appreciate that. >> karen lets not make it political. but the reality, there have been talks about trump's impeachment since before he took office. after he won the election and before he took office there superpacs created and other motions obviously it's more serious. all that's happened in the time is that the stock market went up 50%. 70% if you are the nasdaq. why hasn't this cast more of a
shadow over equities. >> because people view it as a partisan -- i don't know, kind of just a partisan effort that really won't end up in anything real but what is much more important, i think, is the his tax cuts, right, and his view of less regulation is better for the economy. i think that has been the big driver and i think people don't really care about this. relative to the tariffs. that situation is far more important to the market. the fed more important to the market this is seen as a political i won't say witch hunt. >> 48% said impeach. 48% did not. 85% of people who say they are democrats said you have to quiche 85% of the republicans say don't. it's literally down the middle but plays to the markets but obviously the markets. >> everybody likes the middle. >> the market does not believe the president is removed true or false. >> true. and markets also like anything that's right down the middle
or actually like where there is stalemate don't like uncertainty. and we brought up, the s&p up 7.5% since september 24th which is the day. >> proceedings began. >> proceedings were filed. the politics around china appear the trade war are so much more important. it's actually very interesting it's a bipartisan issue in terms of pushback on china both sides of the aisle wanted this and have engaged in this that's what the market cares about. >> the market cares about what karen said, deregulation and tax cuts and this seems to be the democrats' solution to not aworthy candidate thus far i think they're going for this as hail mary market sees it that way, market loves the policies and doesn't think a democrat can beat him at this point. >> there is only two outcomes here, right? i mean the senate says no we acquit and things go on. >> or you get the votes. >> lets take the other side
because the market needs the price in everything. we can't say around this table we know what's going to happen we can shake our head, whatever. but we don't know. >> shaking my head. >> lets take the smdh, the other side of that. >> smdh. >> lets say there are defections on the republicans, worst-case scenario, he is removed what happens to equities. >> the equities slide drastically off of that because that's something they haven't figured out. >> even with president pence. >> even with president pence i think the equities slide drastically. but you won't get 20 votes, unless -- unless brian you get something new into the calculus, new proof. >> there are people going to testify. the enacts are trying to get people up. >> the only way you see anything change other than the market drifting higher is that you get new information the market hasn't calculated already. >> karen is right when she started off with the less regulation, talking about the tax cuts, whether right or wrong, the influence on the fed, there are all the variables
right. but the thing people love is the trade agreement potential. at least the phase 1 and where do we go from there? there is a lot of things the tax cuts particularly people embraced that, brian that's the bulk of why the markets move to the upside plus we have gone through multiple earnings just this year alone where it seemed like -- how about all the recession talk. >> where are those guys now? everything has been thrown at the market and yet progressed up it's not just fang which everybody embraced a couple years ago. it's a broad move other than energy which by the way the last month or so energy moving up that's taking over what we see in the option world in terms of people are expecting more out of energy now -- and i know it was a laggard but look it's over 60. >> thank you opec why we went to convenient aire. >> right. >> lets talk about the impeachment vote, the impact on you, the economy, the market chris campbell at devlin fell.
s long-term d.c. insider chris welcome. >> good morning. >> i know you know the players involved in this used to be in the worldwide exchange you can say it's dark either way. >> i doesn't know what time it is. >> chris campbell. >> we want to hear chris. >> without getting into the political weeds of this you heard the analysis do you agree it's unlikely that this president at the end of this will be removed from office. >> this president is not going to be removed from office. >> period, end of story. >> end of story. >> unless something literally catastrophic, something -- i think even if someone comes and testifies he is not removed. it's like of an alien comes down. >> lets fast forward a month the senate completed its trial, acquit you wake up the next day all this is over the president has to get something going. we have trade. we have infrastructure theoretically. medical device costs pricing
can anything in the agenda affecting investors get done. >> look at what's happening how we end the year. partial deal on china, big spending deal. we have the u.s. mpt mca getting a yes and the economy doing well at the -- wrkt for being as broken as it is it's done well at the end of the year i like that going into next year next year congress is in the big spending deal they've done they are setting up a health care debate mid-year next year likely drug pricing. i don't think anything will happen >> isn't that bipartisan enough that something might be able to happen or is there so much even more animosity after this process is done that they can't even look at each other. >> the difference is right now it's just naked partisanship but in a couple much months it's trump versus somebody else when that happens, when it's a -- when trump knows his counterpart or his opponent is a real challenge that's the
tribalism in the state. >> you talk about impeachment priced in. talk about the fiscal spending deal i'm hearing 1.4 trillion all the different numbers. where could it be? and handicap the probabilities and what sectors benefit. >> well, i think that number is base right and there is going to be a permanent removal of taxes baked in and congress will continue punting. the medical device tax, the insurance tax, the cadillac tax on the insurance companies for union members. so all of these things -- removes uncertainty. i think there is more certainty in certainly in the health care industry and the sector. so i think that's great. antes up a conversation on infrastructure and it tees up a lot of conversation on a broad are health care challenges we have in the country, which is a huge issue for the president. >> when you talk about health care on some issues going forward, does that mean that you would prefer if you are there -- if somebody is there they should maybe slide out of that sector right now in terms of the volatility that might come in.
>> i don't think so. no, i don't. i think we'll. >> no. >> next year it's steady state the fed doesn't change the interest rates next year we know where we'll be on regulationing. the administration is deregulating and taxes are the same steady state. and there is- dsh did market issis ka chasing headlines as politics unfold. but end of the day i can't see anything significant happening negative for the economy i like the way we enter next year. >> is there a chance that between the tea party on the republican side and democrats very partisan they won't allow a spending bill to move forward. >> so highly unlikely. so highly unlikely at this time typically when we get this close to the end of the year, the leaders on both sides come together and the deal is pretty much done. >> i meant infrastructure something like that. >> infrastructure, a larger deal that, absolutely yeah i think that's going to be very difficult. that's something i think in
advising our clients i see that after the election i think it will tee up a conversation next year what the fraz package looks like. it's always a challenge -- we're not just spending money but where to raise the money. >> and there are vulnerable house democrats tao. they want to mri ball maybe a little bit chris calmable thanks very much process great insight. >> thanks. >> shares. micron popping after hours after a blowout quarter. we breakdown the numbers and find out what they might mean for the red hot chip sector. in case you haven't noticed there is a record rally in the stock market but no one told this megacap stock what is that mystery chart why is it not participating? what's wrong with it. >> lets see. >> we'll talk about live from new york's time square in new york city. much more "fast money" coming up
why with josh lipton in san francisco. >> that stock already surged nearly 70% heading into the print. and you just mentioned trucking higher in the after hours process. for a quick take i caught one rbc mitch steves a micron bull. with micron calling the bottom and guidance suggests margins moving higher. meaning inventory levels normal i see eye. the ceo on the call talking about the company's financial outlook. take a listen. >> our business gives optimism that the fickle second quarter marks the bottom for the financial performance which we expect to improve in the fiscal third quarter with continued recovery in the second half of calendar 2020. now sanjay ticked off the segment sounding confident sfds flash drives and improves pricing trends in
mobile he says he was confident that miefg will be positive for the company. micron remains well positioned in that market data center said cloud kmrs and that cloud cap x is healthy and that goes to memory and storage. pc market there a bit more cautious on the near-term. no surprise due to the cpu shortage we hear about and sluggish sales in the industry automotive. but growth over quarter over quarter. huawei, the important micron customer they are despiting blacklist with are shipping products and they did receive licenses enabling support for new products as well. >> josh it lipton thanks pete najarian you own it got to like the quarter but selling the strength. >> no but sell calls against it tomorrow but john talking about today the unusual option activity buying the 56 we'll see what happens to those tomorrow because they expire soon. what i liked about the call brian is some of the projections going forward are we bottoming i
don't know we are positively but talking about pricen, inventories appear nan and dram and plus i like the data centers. one of the bigger focuses i've had looking at micron is okay they are feeding into what and the memory goes where? you look at data centers that's the growth when we look to the intels and others that's where we are all looking. so a lot of reasons. plus trading inexpensive yes made incredible move this year maybe it slows down from here broien to for a while maybe pauses then next move to the upside. >> unbelievable call on your part because d-ram and nan declined for six years and most revenue derived from d-ram. amazing call more a supply demand more a commodity advertised trade and trade getting better and seeing the stock ram rally but n individually up 70%. connected home and car the smhs etf for semis up 62%.
obviously this trade is obviously giving you is something for christmas. >> but it's different, tim, we talked about micron last night they are kind of an oil company in the sense that d-ram is a commodity and you are at the whim of the gloelk d-ram pricing structure. >> it's a cyclical and you have a supply response after you have seen a slowdown. you have a case here also going into the lead time we are not talking six months. yeah talking about 2020, 2012, 5g wheres it they are calling the bottom. with the vision they have on this industry saying i'm calling a bottom here, very powerful. >> i agree that is huge. if you think about it look where the stock went the last two weks the bar went higher. and yet this was good enough -- excellent good enough to jump over the bar and have the stock stock up nicely. the call petition at the bottom is big. >> a lot of the investors at the bar celebrating this.
>> know what you're doing. >> for more oh on the big quarter head to the website. cnbc.com but on the television here is what's up next. >> announcer: markets may be at new records. but one strategist sees some big warning signs ahead. could we be in for a repeat of the.com bust and later all eyes on nike earnings after the bell tomorrow we break down what the options market sees for the report that and more when "ston" tus.fa mey (soft music)
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sven henrik. we talked about this on worldwide exchange and other programs this is the market whether you want to call it the fed steroid, whatever it might be just won't quit anything in the charts that you see that indicate to you this thing is about ready to roll over. >> not -- well my charts are actually on massive sell but the liquidity momentum is extremely strong and you know, it's like the fed has been playing secret santa all year longhanding out gifts of asset price inflation and, you know, the big issue for me is what i see here in the macrocontext first of all is to say that 2019 has been a revelation, central banks cannot extract themselves from the monetary easing monstrosity they created. 2018 was the only year since the financial crisis was where central banks reduced liquidity on a net basis and then
immediately blew up in everybody's face so the solution in 2019 was go right back into adding liquidity with obviously global rate cuts everywhere and then the additional qe and not qe by the fed itself we're stuck --we're exiting this decade the same way we entered, kicking and screaming with trillion dollar deficit, massive central bank intervention, low to negative rates and no i oata of vision how we raise rates or reduce balance sheets because they are going into 2020 pressing the peddle to the metal. the question is what's the end game ultimately? and what we see noble market without central bank intervention that's the challenge of the next decade. >> but there is central bank intervention i assume the bull market could go it's hard to believe, sven, i was in this building reporting on the nasdaq boom
is there anything looking at the charts -- not trying to spook anybody. but anything technically in the policy construct that resembles '99? >> actually this is interesting what's happening this year keep in mind when the fed -- we have to divide into year into two parts, the first nine months and last three months. the first nine months was about ending the quantitative tightening and then about rate cuts and the fed cut rates three times 75 basis points. but then everything changed in october when the fed was forced to respond to the overnight rate issue, the repo crisis in september. basically in october the fed went wild, adding balance sheet and liquidity at a rate we have not seen since the 2009 crisis acting like there is a big crisis underneath. and what's happening with the liquidity, it's accelerated markets higher and brought a lot
of sectors that were struggling beforehand what's really interesting here is that kind of the same construct that we saw in 1999. remember 1998 we had a 20% correction the fed cut 7 a basis points the big ral in 1999 but didn't really kick off until alan greenspan came in late and added a bunch of liquidity in the y 2 k crisis appear and that ended up topping up in march of 2000 to the extent that all the liquidity here is artificial and has to be pulled back markets may be overshooting. >> quick, though, is this inflation- dsh it reflation trade or settle willing up for deflation sounds lake a bubble that burst that is gets back to deflation even though oil going higher, copper going high are, et cetera. >> it's interesting. i'm looking at big structural
charts like gold has a bull flag but tlt has a bull flag on it. if you look at the rate action here in q4 it hasn't confirmed the rally. actually the 10-year is more a bear flex. we have yet to see the reinflation in terms of mechanicing. >> sven, listen you've been strong on the market i know it's a tough market if you've been short. but you've come out been honest about the calls and where you feel about it. thanks for staying late overseas appreciate it. see you again. >> thanks, broien. >> listen, guys i think sven takes heat because he will say i'm negative, the market has gone up. but if and when the fed ever pulse back. >> he is right. >> this this market is going to sink. >> that's kplb -- he is exactly right. his point that central banks tried to do that in 2018 and led to 2019 is a scary tale. bus because eventually we are
going back where where remove the liquidity. >> it's interesting when you see what everyone is judging just on rates and rates areason you look at balance sheets where qt was in effect, the same result raising rates at every meeting now qe adding it same as cutting they are cutting rates by proxy through the qe. >> people come up to you guys all the time and say why isn't impeachment affecting market because whoever is 1,600 pennsylvania avenue can't compete with the trillion dollars in central bank liquidity. up next, facebook struggled to reclaim highs. but the next guest thinks that's about to change. 'rgog fd t y 2wee intoinouwhin minutes.
welcome back to "fast money. stocks may be sitting at record highs from index level but one hot tech name cooling off lately amazon underperforming the broader market what may be going on deedra bosa live in san francisco. hopefully do you have answers for us deedra? >> i will try. but you know, a 20% year-to-date, nothing to skof
at but this is amazon one of the most expensive stocks in terms of other measures. and pe ratio and on track to underperform the s&p what gives is that they started 2019 by telling us it's an investment year upping the grocery offerings expanding ad business and the costly initiative of one-tai shipping all putting the company on track for future outperformance. wall street is not phased by the lack lusterier the company is on jp morgan and quoen's list of best ideas next year not a single one of the 50 analyst covering amazesen according to fact set have a sell rating except guys this could be different amazon is facing new risks and cracks are showing heading to the new decade include declining dominance in e cloud and e commerce and uncertainty regulatory environment and a election year. also growing concerns about the safety and quality of its
marketplace. so, yes, guys amazon has been a rewarding bet. but far from guarantee to do can do it over again over the next ten years. back to you. >> deedra bosa in san francisco. thank you very much. so, steve grasso, you've been a bit negative on amazon. >> whenever he tells you as deedra started the section off as bezos told you it was an investment year. you run for the hills when it's that granted 18%, great return for any other year looking at aws that's the growth engine, accounts for 56% of the operating income that's where you want the growth, the invest in everything else that's declining from 56% down to 35% now, microsoft's cloud business is declining as well but with amazon there is no guarantee that all this investment is paying off wal-mart -- wrrmt has been knocking the cover off the ball. and amazon if aws doesn't grow or declines, dekrerlts the stock
is going down. >> what at what point does valuation matter for amazesen. it didn't for a long time. >> it never ha has. >> that's why i ask the question brian if you think about the last six months and underperforming the s&p by 17% since july you have a case whereas with we have seen other folks are certainly developing the online business, dtc is weather. but they have to continue to reinvest in infrastructure and logistics and procurement to stay ahead of of the competition. and right now that's maybe a losing game. >> i'm a guy who has not been in amazon frankly for the same reason why would i pick amazon over microsoft what makes me pick amazon over microsoft. >> totally different companies. >> no, they're not that's the misnomer. everybody says that. that's not true. >> it's true. >> the amazon is a cloud company. >> so is azure but microsoft is an enterprise company. >> so microsoft. >> the corporations amazon is a consumer company. >> why has microsoft
outperformed. >> microson. >> outperformed year after year. satya nadella put in what they were doing going for cloud. they shifted there that was the transition. he was the right guy at the right time. >> he has done an amazing job. i'm not knocking microsoft but you have to pick one. >> why do i want one trading at 807 times multiple or more versus one that's traeding at 30 times or less quite frankly? and has growth and is probably eating away at what amazon has right now? aws is too expensive. >> i think there is one other thing maybe going on, which is, you know, jeff bezos is seen as enemy of the president, right? i can't help but think we have seen other companies with ftc investigation alphabet don't matter trading all-time highs facebook all-time high this isn't and aws had the -- the pentagon contract reversed lost it to microsoft after they had won it i can't help but think this is
weighing a bit on the stock as well. >> well, back to -- let me try to bridge brian and pete on. >> i don't know if there is a bridge. >> a bridge too far. >> yeah that's a bridge way too far. >> but no question that amazon multiple is as much a function or has been in the last couple years of aws and the growth rate at aws is slowing. and there is enormous competition in cloud enormous look at google's play. everyone else coming through. >> ibm. >> yeah that's a case where you look at the competitive landscape and say the tryinger to the multiple may be some of the best days are behind it. >> is there a new amazon >> out there anywhere. >> i don't think interest has to be a new amazon. >> you know what i mean exciting tech story that's. >> it doesn't have to be exciting tech story. wal-mart is really eating their lunch in a lot of ways because the growth on online has been astronomical so it doesn't have to be one new amazon it just has to be six of the competitors start to eat away and take back market share but to pete's point, this is a
cloud story. that's where the multiple came from. >> yes. >> to tim's point and thatter to decelerating not only only for amtzen >> i think karen nailed it enemy of the president i wrote an article two years ago said amazon could be the anti-trust target. is there a lot hanging over there. >> a lot there. >> a lot there. >> so pressient. >> hasn't been right amazon maying stuck in the mud but there is with one fang name headed for the breakout. over to the charts with chris veren as. >> lets start with broader tech. what what's remarkable despite all the signs of value coming back growth is good. starting with the triple qs. lets remember the 18 months in a range. it's only the last six weeks that tech broke out here i think the question is, is this
move too far too fast. right now tech is about 10%. above the 200 day. historically it's extremes closer to 20%. as we saw five or six times in the last ten years we think there is room before tech is overbought how do we play the continued strength in the group? one of the favorites is facebook this is another name that spent the better part of the last now two years in this big range. what's change recently every time we check back to the 20-day moving average support holds. the 50 held last week on bad news the name has been so resilient admit the bad headlines. look for 250 in 2020 if you take a look at the longer term setup, in drawdown we saw in facebook last year, down 45%. that's a good bear market. it was the biggest drawdown since the ipo if you lack for
the bear market you missed it. it happened. the next major move is up. i'll give you one more name, perhaps a little less known in the tech space splunkjust improving last couple weeks big breakout big acceleration on big volume the stock is being accumulated here finally above the 158, 140 area. the next major move is up. there are signs the value is coming about bau back but i think the triple qs are have more to go and facebook appear splunk two ways to play it. >> chris come on over. >> bring it over. >> don't be afraid. >> many come on now. >> anybody here own splunk. >> facebook, yes. >> fischer. >> do you agree. >> i said facebook. >> you must agree with. >> i absolutely agree with chris. i think there is plenty -- i think there are so many different verticals they have
that continue to develop that this is a story -- you asked about a story what's the next amazon maybe it's facebook because everybody thought it was facebook well no maybe instagram process. what's app messenger. ai all the other things coming in and obviously instagram there is a lot of reasons why right now facebook is at the beginning and look at the growth look at the pe on this company versus amazon. it's not even close. the cash at a that they generate yes, bullish on it. >> but the pe on facebook has been compressing for years and -- look my view on that. >> that's a good thing, right. >> i don't know. i think it should be trading -- you want to see a company rerate and multiple expansion how do you get that from a management team that you feel understands the core part of the business. i think this management team -- you have to give them credit for where they've gotten to. but a lot of people question whether they know how to value the business but the big risks are the cost
of securitization. >> we were on when the news hit that doj was reinvestigating how resilient is this chart absorbing that a week later about to make a new high. >> right. >> what is more bullish than something is that doesn't go down on bad news this is exhibit a all year multiple times they tried to sell it and couldn't keep it down think more broadly we need to retire the acronym fang. alphabet strong is indemnity flicks, amazon not so much this is no longer asset class. facebook is the best one. >> chris ver own, splunk appreciate that. tesla. all you teslaarians out there, but the record rally about to run out of juice send us your wonderful comments on the twitter we're back after this. ted to ag? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere.
there's room for more than just the business you came for. ♪ whether that's taking in every moment... or capturing a moment worth bringing back. that's room for possibility. ♪ how far we can go, oh oh ♪ all right welcome back you are looking live at the house floor in congress. lawmakers getting closer to a vote on impeachment. back to kayla tausche live on capitol hill with where things stand now. >> there is a bit more than an hour left in debate. the arguments have taken on a
partisan nature, just reflecting the views of both sides of the aisle on the proceeding. democrats continue to argue it's the duty to impeach the leader who uses the office for personal political begin. republicans continue to say the facts do not stack against president trump and that democrats have wanted to do this since he took office here is florida congressman and white house ally matt gates earlier. >> democrats may not have known why they are going to impeach the president, but they knew it was an inevitable facts be damned the impeachment isn't legitimate it's the radmann dahl oh ka cal left insurance policy. but we have an insurance policy too it's the next election and we intend to win it. >> that effort is underway as we speak. president trump set to take the stage at a rally in battle creek, michigan at 7:00 p.m. could match to the minute the time the articles of impeachment are brought to the floor to an actual vote, which certainly
would be interesting counterprogramming if that were to happen. in the meantime, the number two house democrat denny hoyer telling reporters there is a discussion on whether to delay sending the articles of impeachment one voted on over to the senate in an effort to shape the what the trial looks like in the other chamber. breyen >> kayla, any chance we don't get a vote in the house tonight. >> it's unlikely at this point we are still expecting that to happen at some point between 7:00 and 7:30 p.m. and we expect to hear from leadership after that. >> looking at mid-january maybe more the senate side. >> we know the senate blocked out the entire month of january for a potential trial. where exactly that would start depends at this time. >> all right, kayla, thank you very much. all right switching gears back to what we do on cnbc and talking about stocks and tesla hitting the fresh all-time high today. 18% on the year, not great but not down helping fuel the rally today
new reports that tesla could cut model 3 prices in china. stock not hit an all-time high since 2017 steve grasso. >> hmm. >> has tesla turned a real corner. >> short interest in tesla still 20%. this was a stock people were worried about it going out of business worried about debt, the balance sheet in this name last time i was on pete was on talking about the 327 level in the name it held the level and ran so% from that level. now when you look at the overshoot levels it's getting stupid mid-to high 400s on the overshoot levels which is interesting. >> can i ask a question, if you are having trouble making cars for the price you sell them at why are you cutting prices in china? obviously i'm negative on the stock my view is that this is not necessarily great news and that this is a dynamic where the fundamentals here are not lining
up the key is waiting to see where the free cashfully is in the next quarter what they did last quarter was aberration and out lie er. >> they are talking about the electric car tax credit in the spending bill and i get that tesla has gotten to the point where they are not helped because they sold so many. what you you want if you own tesla i assume is for the infrastructure to do well. you know, you want the other players -- they build out the charging stations. >> r & d play for sure. >> it's a bad look for evs with what congress is trying to do. comings comings up with christmas a weeka we are we are unwrapping big retail trades, why are the two names spreading the holiday cheer? live as always at the nasdaq we're back aerhi ft ts. have you ever worked with dr. francis? oh yeah, he's ok. just ok? guess who just got reinstated! well, not officially. nervous? yeah. yeah me too.
[ drathis holiday... ahhhhh!!! -ahhhhh!!! a distant friend returns... elliott. you came back! and while lots of things have changed... wooooah! -woah! it's called the internet. some things haven't. get ready for a reunion 3 million light years in the making. woohoo! -yeah! ♪ jingle jingle bell jingle bel rock ♪ ♪ jingle bell swing. in you have not complete the or start the christmas shopping. i want you to get moving. >> i haven't -- brian. >> 6, 6, 6 left before christmas. there we go. but for one retailer christmas came early
the macy's stock jumping today you did some digging and found something interesting in the macy's debt chart that could be a gift for investors. >> equity investors are scared, the stock trading at of 6.5 times earnings but yield nine and change but something interesting in the debt macy's on december 3rd close to let bottom announcing they were repurchase debt. they felt comfortable enough that their debt was a good investment for them and plenty of cash to do it today they announce the result of the tend are and up sized it. instead ever buying 450 million back they bought 525 million. they are feeling good. helping the balance sheet. and i think that's starting to be reflected in the stock even with the rally today these metrics are telling you people are really concerned about ms. ds equity. but i think debt maybe knows
something the kwkt hasn't caught on sflo the equity is the catalyst people can being are concerned about paying the debt are can they not people have made that part of the story. yeah not buying stocks for dividends. i don't want to speak for pete. >> never been my story. >> the story with macy's you get to 2.5, 2.8 net debt that's good ratio. >> good stuff. debt investors smarter than equity investors this is equity investor show. >> we'll talk about it. >> nike hitting the all-time high the second straight day the sports wear giant up 34% this year heading up into the report options traders bet it could run. >> mike khouw with the "options action," mike. >> you can barely san francisco all behind me all you get is the city fog for nice ee interesting into earnings two times the average daily options volume in nike today
it's implying a move of 4.3% in line with the 4.2% they averaged the past 8 quarters. the most active buying activity taking place in the january 100 calls, over 3500 of those traded for $3 buyers of calls betting that the stock rallies above the $100 strike price by the premium they paid the break even would be 1.03 in this case. one could understand bullish bets in options because the stock doubled since mid-2017 a lot of the price growth came from multiple growth, which it's now trading about 37 times earnings and the same period of time, the s&p hasn't seen valuations grow that much. >> all right mike khouw thank you very much watch out for the fog. more "options action," catch the full show friday 5:30 p.m. eastern. up next final trades ♪ >> announcer: "options action" is sponsored by think or swim by td ameritrade.
especially by something like your cloud. it's a problem. but the ibm cloud is different. it's open and flexible enough to manage all your apps and data securely, anywhere, across all your clouds. so it can help take on anything from rebooking flights on the fly, to restocking shelves on demand, without getting in your way. ♪ ♪ all right time for final trades pete. >> going energy. rurss. >> stay with the g in fang google. >> i like chris's chart but the fundamentals here too.
facebook. >> afis budge. ticket symbol car negative headlines and up 40% in the last 12 months. >> we do appreciate that thanks for watching, everybody impeachment vote going o my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it, "mad money" starts now. >> hey, i'm cramer welcome to mad money." welcome to cramerica other people want to make friends, i'm just trying to make you money. my job is to teach you and boy put it in context. call me at 1-800-743-cnbc or tweet me @jimcramer. even as the house of representatives debates the impeachment of the president the stock market seems like it codn