 Good morning everyone. It's Wednesday. We are on the floor of the New York Stock Exchange with Jim Kramer to talk about the markets and Jim We'll start with the Fed minutes. Sure. Look, I think that the Fed minutes that has a lot of latitude here They can focus on low inflation and say they want to do nothing or they can focus on the idea that listen It has nothing to do with inflation It has to do with the fact that the economy strong enough that we got to get back to normalize rates And that's what they're going to do Which is why I think the banks are still a good place to be we're making some moves and action alerts on the banks You got to stay tuned but a lot of us to do with the fact that they've had a monster run Anticipating the fact that the Fed minutes I think you're going to show that they've got great latitude You can't keep going up on the same news as the C car and Bank rates and interest rates going higher But remember the feds in the cap, you know feds that got a is in a great position here And they waited and congratulations to Janet y'all made a lot of sense and those Fed minutes are at at 2 p.m Eastern and speaking of the banks Italy is taking control of Monte de Pascha. Yeah Now Monte de Pascha is my bank frankly in Italy and I do some business in Italy Geez, I'll tell you the Italian banks are now they're starting to come together unit credit With that massive recapitalization Monte Pascha, which is such a major bank fourth largest But had been the single bank because it's the oldest in the world Was a bank is a bank that I use and I think the people have to recognize the banking system in Italy is very much like 2009 in our country. So this recapitalization is going to be able to restart What I think is an Italian economy that is remember they have the third largest bank bond market in the world the Italian economy has made no progress if you see if you get them get lending and it's all cash economy you get lending in Italy and you get a more streamlined government less regulation the regulation there's horrendous trust me Then I think you'll see that economy really roar because the tourism is incredibly strong All right in the back here in the US, of course President Trump heading to that G20 summit Yeah, I mean I think that Trump in these settings tends to be a little less confrontational I think he feels like he wants to be a statesman I don't think that he can solve the North Korean situation with these people because everyone's pretty toothless Until I think that the ICBMs are pointing toward them All right, and then van to planning to acquire a world play. It's rather amazing Van to is an outfit that was flying under the radar screen Like many of the payments processors where there's been just tremendous merger after merger after merger remember This is a spin-off of fifth third and it ends up besting JPMorgan did want to pay what they what they paid rather incredible JPMorgan We'll probably spend more money buying back at stock I know or giving a bigger dividend But this is a deal that reminds you that how valuable PayPal and square are square remember Reflected a very downbeat IPO market not unlike what we have right now, and it's finally coming into its own It is remarkable in terms of its I we use square at bar see me go We use one of their functions. It's remarkable how under serve the small medium-sized businesses are when it comes to giving small credit That's squares one of squares jobs and squares just growing remarkably PayPal has the best growth, but it's too big to be acquired All right now There's a report in the Wall Street Journal about Disney channel losing subscribers Yeah, I think that's important because I think Disney has had a lucky streak here That was punctuated oddly by a New York Post story suggestions Verizon might buy Disney Which would really kind of wreck Verizon's balance sheet. I questioned by the way putting on a note today an action alert About alphabet. I think people who are watching who's please check your email We're gonna do a lot of things had a lot of things to say on Monday, but I think that Disney Disney is the last thing Verizon can do after just bit off Yahoo, where I don't even think there's anything going there Bob Iger has been a Teflon man when it comes to both ESPN and it comes to To this children's network in part because the amazing work he's done with themes theme parks and with movies I don't know when ESPN is going to start being able to count what's going on on your cell phone But I think when they do you'll realize that maybe the costs are coming down and it's not as negative I remain long-term a supporter of the stock of Disney. Okay, and then actual arts plus holding Apple There was a note out with city saying there could be a buying opportunity. Yeah, look I think that all of tech we put out interesting comments today all of tech is sold off It's a little too early to mount a big rally because the days are long but I Point it point out to people that there are real reasons to own tech And there's real reasons by the way not to own as much oil as we do fractional We put an interesting memo yesterday and that's Volvo the Volvo's change to go in all electric reminds you that the future is not Gasoline I do believe that that the oils that we have are the best in a bad neighborhood And I do think that oil inventories tomorrow and the Baker use ring count are going to show that because there isn't enough pipe Out of the Permian a lot of the drilling that's been going on is fruitless You can't transport the stuff anywhere. So the Permians almost overloaded the only pipe that still has room is Magellan MMP which we own for action alerts had a very big week last week And I'm watching to see where that stock goes You mentioned electric cars Goldman Sachs is out with a note with for Tesla cutting its price target Yeah, no, that was a very interesting note because Tesla that Goldman was the banker and they cut the price target It's now what 180 a little unrealistic. I what I did note that was of interest in that In that report was that they think that inventories are problem And a lot of that is because of course the markets frozen by the the model 3 that's coming out I don't know I read that note and I said that one thing we've always felt that was good about Tesla was the demand side Remember Tesla come out with something about China or the giga factory and everyone will forget why they sold it It remains a battleground stock that I cannot have an edge on it's the only one by the way I mean, I'll tell you to buy Amazon. I have no problem telling it's a cold stock But it's also got a web service business that is worth maybe a huge part of the market cap But I Tesla is just a battleground and I you know, it's great to watch It's terrible to be involved in and staying with cars on mad dash on squawk in the street. You talked about O'Reilly. Yeah No, O'Reilly This is something it begs more work O'Reilly auto zone and This whole contingent including advanced auto parts has always been very solid in terms of its growth I wonder whether there doesn't have to be some consolidation in that industry now I bought the idea that the sales were weaker because we had a mild winter that doesn't extend into the spring I have to do more work I do not understand why these stocks are why these companies are performing as poorly as they are Given how consistent they've been and auto zone has been a big buyer of its stock advanced auto parts is run by a guy Who's the chairman is it is an art, you know a so-called raider And and I look at that at Jeff Smith and and I look at that and I say to myself now Wait a second this group has got to start doing some merging. These are big companies But we don't need all of them and I do think that there is Mergers on the rise and but I don't recommend stocks Based on takeover when their fundamentals still require more number cuts and more downgrades Which is what awaits us with auto zone O'Reilly and advanced oil parts All right, and then on stop trading you talked about diable next door Yeah, I've had them on the on mad money They've got the single best system may of maybe rivaling Amazon to be able to make it so that you have 360 when you go to a store in others if you buy and put it on Apple say and you don't need checkers and they Talked very extensively about that when they were on mad money But they still have a core business that involves you know cash machines and doing some software for banks So that's why NCRs down to so it took people by surprise There's a lot of people in there for the pizzazz of the checkerless shopping technology They have and forgot the basics which is that look out They still have to deal with banks and what they call complex transactions very disappointing both diable next door and The incredible O'Reilly Were stocks that people kind of felt had been consistent of late and they clearly weren't all right Jim creamer We'll leave it there Thank you so much as always and for more information on the stocks Jim mentioned, please head back to the street calm