Transcripts For CNBC Fast Money 20171207 : vimarsana.com

CNBC Fast Money December 7, 2017

Bottom left of your screen well be on bitcoin watch. Exciting. For the entire hour just like a hurricane, you can watch it go up and down and not miss a second. If thats not enough, one of the Largest Online Brokerage Firms will be on the front lines as bitcoin makes its debut on wall street, Bitcoin Futures. The ceo will join us later first, the drama in d. C. Raging on as the house just voted to avoid a shutdown this week the question looms over the future of the tax bill eamon javers has the details plus a new development on infrastructure eamon . Reporter thats right, that final vote was 235193 in the house of representatives that means that continuing resolution would simply kick the can down the road for two weeks and avoid a government shutdown. It still has to pass the United States senate. Every expectation is that it will pass. We got some positive imagery at the white house in terms of the by partisan congressional leadership coming to the white house to meet with the president. Were told nancy pelosi and Chuck Schumer along with Republican Leaders started out the meeting in the oval office, you see the president and the Vice President everybody saying they want to get to a spending deal before the end of the year. They took a detour denounc touto the situation room at the white house where were told they were given a briefing by secretary mattis on north korea. Were also told that the white house is planning ahead for the beginning of next year, assuming they can get past this funding bill here by the end of this year, in january they would like to release some of the details of their infrastructure plan the thinking is it will be about 200 billion in Government Spending and the idea is that that will spur on about 800 billion in state, local, and private Infrastructure Spending as well. They want to incentivize as much of that as they can from here at the white house. We should get the details in january. Melissa, they are still working the tax bill thats been much less visible over the last 24 hours theyre in Conference Committee now. We havent seen much in the way of negotiations although some of the folks on the house side of the hill floated the idea of a 22 Corporate Tax rate that might give them some of the revenue they knew. All of that will have to be hashed out those conversations going on privately now. Were still waiting for the date of the first Public Meeting of the Conference Committee on the tax bill a lot of stuff moving here tonight in washington. Thanks for staying on top of it, eamon javers in d. C. You might call it stock paradise wow, eddie money. Thats right. Stocks are near record highs not even the turmoil on capitol hill can derail this rally but wait, wait you know what . Its more than stock paradise. Its more like stock heaven. The place where money is made every second youve got a strong economy, tax cuts which could be days away from passing, and now potentially a big fat infrastructure bill the white house says is coming in january. Can this euphoria last for eternity, guy . Eternity is a long time its a bad cologne as well. I never understood why there was a g in cologne i digress. The fact that the vix was lower yesterday, down another 6. 5 today. If i were an elected official, i would have tried to bolt an infrastructure plan on top of this tax bill, that would have made things a little easier, but thats me. For me the most interesting thing today, despite this nirvana we talk about, is the fact that the bond market at 1 00 sold off in a meaningful way. For the first time in a while, maybe youre seeing a break and maybe things are starting to make sense to some economists out there. For me, the bonds led the day. That coincided with the talk of this infrastructure plan. Could the economy be heating up . Maybe it could, right weve had decent economic numbers here now you add on some kind of tax cuts you could argue about how good theyre going to be. But theyre going to have some kind of an impact. You have an infrastructure impact you probably shouldnt have tenyear yields at 230 again, this all seems really rosy the most important chart to equity starts, to stock market investors, is the bond market chart, that tenyear chart were showing. As that approaches 3 , you get reallocation out of the stock market into the bond market and thats a headway were not there yet. Thats something to keep in mind for 2018 i dont get in infrastructure thing now, actually. Theyre very close to the finish line on tax. And i think i think infrastructure makes it more difficult to even be focusing in that in any way while theyre trying to get this done. Thats going to be a very inflationary thing potentially, right . And theyre worried about the budget i dont get it i dont get why to do that why not strike while the fire is hot is it hot the gang that couldnt fly street has been flying straight. Let them get to the finish line on one race, one race i totally get it. The entire time we were talking about taxes when we werent even done with health care. Thats the way this team moves that doesnt bode well for taxes. Look, you bring up a great point, and by the way, i dont think youre going to see any infrastructure in blue states based on the way this tax bill is structured because i dont think theres going to be any room what i think is genius, and no one asked me for my view on this whats your view, tim if in fact you back off of a 22 Corporate Tax and throw Something Back on s. A. L. T. To the blue states, it looks like everybody won. I certainly believe you need to give something for everybody here for the market, look at transports we were back at the highs again. Everyone that was clamoring, Something Weird going on, really, we just went so far, so fast we got some news and frankly, like everybody here, i think the bond market is worth watching right now its worth noting too that intraday we saw a pop in a lot of material names. Martin marietta, vulcan materials, we saw them go up the old trump trade. The old School Materials that youre going to build stuff with, not necessarily your kind of commodities we were talking about copper, what happened with that this week its more of the infrastructure plays that happened there. So were at a period here from now til the end of the year when youre going to have very few people who probably want to sell they may want to lock in some gains. Its going to be hard to get a selloff unless the bond market takes off, which it likely is not going to do. The rest of this is a 2018 event. So youre sitting at stock heaven why do you say people wont be selling here . If anything, that was the theme of this week or certainly late last week, brian im saying they may lock in some but people arent going to be making major portfolio moves, when you have tax reform and an infrastructure bill potentially coming in 2018 now, you can be disappointed come january but at the very at least i think in my view this keeps people somewhat bullish about this market for very wealthy investors, you know, in california, some of the other high tax states, actually taxes are going up, right . Not down so that would to me say, all right, if youre going to sell, youve got to think about selling now. Its a significant difference next year. You know what i think is fascinating . Whats fascinating, guy i digress as i am wont to do. I love the bitcoin bug or watch we have, it almost blocks tim out of the picture i mean, if we were just to move that a tad bye, tim. See you later. You know what there it is, there it goes. Were going to have tim in the corner how about we just do a tim coin tim watch i could disappear no, we dont want that. Never say that out loud we would never want that. Do you invest in infrastructure now i dont think listen were in a market thats levitating, were in stock heaven were going to levitate to the end of the year because of seize nationali seasonality and infrastructure the president is trying to get this infrastructure thing somewhere around the state of the union. I think were getting a wee bit ahead of ourselves i would like to see some details instead of just floating out the platitudes we typically discuss. The short answer is no copper got sort of blitzkrieged yesterday. Xes closed up on the day that in our business is called what, bk a reversal day . No, its called a tell. Before you ask the question you should no anyway, its a tell jim cramer talks about that exactly what did you do anything today i didnt do anything today. The last couple of days ive been nibbling back at emerging markets. If you get through some of this noise, i do think ultimately this global story is still very much alive a lot of this has been a range trade. Took a little profit in macys, a little process in u. S. Steel, thats going higher. Largely the infrastructure trade is just extending what has been a reflation trade. I think its a very good trade and ultimately material names have lagged. But i think you go back to industrial metals, which have a very good runway ahead of them karen i didnt do a lot i have been buying recently tbt which hasnt been working until later, i wouldnt declare victory at all, you know and i dont mean this i think youre right when you make these calls on this show a couple of times ive noted, especially on a short term, weve had a move back up you just think the tbt, which is supposed to measure two times the long end of the bond marketmarket over time these theres definitely noise to them i guess, you know, i feel like a 10 or 15 basis point in the tenyear which you could get is something which nevershows up in these things i think it would have to be more than a ten basis point in the tenyear now we have to get through 240 were going to get through 250 at some point in time. Ahead, boeing is the best performing down stock this year. The ceo just told jim cramer his plan to keep the momentum going. Jim will be here after this break. Its bitcoin mania the ceo of one of the Largest Online Brokerage Firms will be here to explain how he plans to be the first major Online Broker to announce Bitcoin Futures trading. Our traders say buyer beware chorft nea special report mu me asmoy still ahead. The moment a fish is pulled out from the water, its a race against time. And keeping it in the right conditions is the best way to get that fish to your plate safely. Sometimes the product arrives and the cold chain has been interrupted, and we need to be able to identify where in the cold chain that occurred. We took our world Class Network and we developed devices to track environmental conditions. This device allows people to understand whats happening with the location, but also if its too hot, if its too cold, if its been dropped. Its completely unique. If you have a sensor that can keep track of your product, it keeps everybody kind of honest that way. Who knew a tiny sensor could help keep the food chain safe . We thats why at xfinityic. Weve been working hard to simplify your experiences with us. Now with instant text and email updates youll always be up to date. You can easily add premium channels so you dont miss your favorite show. And with just a single word, find all the answers youre looking for. Because getting what you need should be simple, fast, and easy. Download the xfinity my account app or go online today. Boeing is the best performing stock in the dow this year our jim cramer speak to the ceo on how he plans to keep the momentum going take a listen. You think about the pace of growth, less than 20 of the worlds population has ever taken a single flight, believe it or not. This year alone, 100 Million People in asia will fly for the first time so when you see traffic growing at 7 a year, its going to drive economic growth. You think about what that means for production of airplanes, this year well build 750 commercial airplanes by the end of the decade well be well north of 900 airplanes a year thats manufacturing jobs, right, thats economic growth, thats Economic Energy jim cramer joins us now, hey, jim, great interview, first of all. Oh, youre very kind, thank you, melissa it sounds like hes got the wind at his back right now in terms of everything firing on all cylinders for demand how about the tax plan, how could that help boeing its funny you ask about it, hes one of the chief proselyti proselytizers. Theyre already buying back a lot of stock hes saying were going to put people to work, were going to build things, were going to innovate with it this is our chance to become an even better company. Its the kind of thing you really want to hear rather than just saying, yeah, well give the money to the shareholders, which wouldnt be bad, we like stocks, but this man wants to put people to work he wants the company to be great. Thats why i was so excited about the tax reform after listening to him jc, great job, i heard you this morning talking about boeing being a 400 stock. Im in your camp do you think the fact that its gone from 160 to 280 in six months for a company that size, do you say to yourself, its too much, too fast, you have to take money off the money here guy, 100 , you have the big 100 gain. An 18month projection, youre seeing this is a company that deserves a higher price to reach multiple because it is no longer cyclical, because of what dan has said about the idea that the order book is very long. And i think too many of us still remember when boeing was boom bust, it would have three years good, then three lean years. Its not the case anymore. I think it deserves a higher price than it has right now. Were going into year end, jim, would you rather keep money in boeing or go for a laggard at this point i would go for boeing i think boeings terrific. A lot of people want to show they own one of the great industrials. Boeing happens to fit that profile. People like to own winners too the idea that the quarter, how is it going to be, i think its going to be a great quarter or he wouldnt have been so effusive today we put up a bitcoin bug, which you can see. None of. Absolutely fun. 16,875 right now i heard you named one of your dogs mr. Bitcoin i had to. The other dog is named nvidia. The other dogs get jealous ethereum is not pictured there you get this kind of fevered pitch, you have to have fun with it the dog on the right, formerly named bug, then named chevron for a while, beats the hell out of me. People think i dont know bitcoin. I know bitcoin hes on the right. Bitcoin brings you your slippers in the morning. Bitcoin swallowed a shoe lace last weekend he was sick. He came back and hit 19,000 today. Jim, great to see you, we look forward to being on your show love being on your show, you guys are the best. Tonight on mad money at 6 00 p. M i named one of my dogs cramer [ laughter ] he did not swallow a shoe i wonder if nvidia feels bad now, bitcoin is overshadowing. The new dog in town. You should be naming your dogs boeing. At the end of the day, who needs bitcoin when you have boeing what they reported in the Third Quarter was an upgrade in free cash flow, which is extraordinary, theyvebeen wowing people all year with free cash flow. Now, what jim pointed out is very important this is a company thats not necessarily looking to play Capital Markets games but actually is reinvesting in a business that really is a long term business. Its very fairly valued at this point. But its hard to bet against boeing here. Class of the bunch this is one of your fast pitch. We did a fast pitch too i know i power pitched youre asking me what do i do now. What do you do now . I took jim down the primrose path, would he be taking profits. Would you be taking profits i dont think so, to tims point, its fair values. Even if this tax bill goes through, boeing will get a bump on that. Maybe some of this move is based on the fact that the market is anticipating it. They report on january 24th. And much like jim cramer, i think you have to be long the stock and earnings still still ahead, Jpmorgan Ceo Jamie Dimon speaking ow in new york city. Will he change his mind about bitcoin . Im melissa lee. Youre watching cnbc, first in business worldwide heres whats coming up in fast. The traders say its just a short squeeze. Well give you the names plus america is going crazy for crypto currencies. And all next week, fast money is taking you inside the world of bitcoin how to buy it. How to sell it, how to be a crypto bowler. Dit crey,n names in the world ofigalurnc ofast money all next week your brain is an amazing thing. But as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. Thankfully, the breakthrough in prevagen helps your brain and actually improves memory. The secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Think of all the things ithat think these days. Businesses are thinking. Factories are thinking. Even your toaster is thinking. Honey, clive owens in our kitchen. Im leaving. Oh never mind, hes leaving. But what if a business could turn all that thinking. Thinking. Endless thinking into doing . To make better decisions. Make a difference. Make the future. Not next week while you think about it a little more. But right now. Is there a company that can help you do all that . I can think of one. Welcome back to fast money. The s p breaking a fourday losing streak, up 2 over the last month something curious has been happening to the market. Investors are flocking to some of wall streets most hated stocks dom chu has more from the newsroom, hey, dom reporter melissa, is it so bad that its actually good . That might be part of the story for why were seeing such impressive moves for some stocks over recent weeks. It has to do with all that negative sentiment and yes, Short Interest there are a host of stocks out there where traders will actually profit from a drop in prices among those stocks that have seen the bigger onemonth moves coupled with high Short Interest, under armour has 30 of its share float sold short. Its rallied around 12 per month. Avis budget also around 30 Short Interest

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