FAA Ground Stop, Anthropic IPO and What to Expect From Nvidia and Nike Next Week

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Melissa Lee (1:02)

Live from the NASDAQ Market site in the heart of New York City's Times Square, this is Fast Money. Here's what's on tap tonight. We're counting down to Anthropics, Blockbuster, IPO. Just how important is next week's offering and what signal could it send to the rest of the market? Plus, what to expect from Nvidia's results. Can Nike's Investor Day get the stock to swoosh higher? Bitcoin breaks below 70K and gearing up for the long delayed release of GTA 6 The details on presales for the latest installment in the Grand Theft Auto franchise. And just how much is at stake for Game Maker Take-Two Interactive at the launch. We'll drive into that one later this hour. I'm Melissa Lee. Come to you live from Studio B at the NASDAQ. I'm the guest tonight. Steve Grasso, Courtney Garcia, Dan Nathan, and our guest trader this hour, Joe Zytle, Chief Market Strategist at Crescent Capital Management. Joe, welcome.

And we'll get to all of this week's market action in just a moment. We start off with the latest headlines on this FAA ground stop, the agency halting all flights nationwide due to air traffic control communications issues. Let's get to Phil LeBeau, who's got the latest. Phil.

Phil LeBeau (2:01)

Melissa, we are about an hour into this ground stop, and this is very rare. This has only happened twice since 9-11, the last time back in 2023, where you have a nationwide ground stop, but that's what has happened. The FAA issuing a statement just over 35 minutes ago, saying the FAA issued a nationwide ground stop for all US airports following communication issues impacting multiple air route traffic control centers. FAA technicians are investigating the issue. We will provide updates. Couple of things that are to keep in mind here. First of all, there are 22 of those air route traffic control centers. Basically set up around the country. They not only help the aircraft at the airports before they leave, and there's also the air traffic control centers at airports that actually work with the aircraft. But these nationwide air traffic control centers, they're the ones that often are communicating with the aircraft that are in route to a certain destination. So what the FAA has done is they've said anybody who has not taken off yet, those planes are staying in place. They're not going to add more traffic to the skies until we figure out exactly what has happened here. The other thing to keep in mind is that the FAA, I've had a couple of people ask this, well, have they determined it's going to be X number of hours, six hours, seven hours? There are some of those reports that are out there online.

Some of those reports you should keep in mind are coming from pilots who say, well, I've been told by the local air, the ground air traffic control center to expect it to be at least six hours. It may be six hours, it may be a couple of hours. Nobody knows because we still don't know the exact nature of what caused this outage. So, for the people who are flying tonight, yeah, this is maddening, but on the other hand, the FAA doesn't do this unless they believe there is a serious safety issue at hand. And that's what you have when it's impacting every air traffic control center. So, we are continuing to monitor the situation, Melissa, as soon as we have any information from the FAA regarding A, when we might see the ground stop lifted or B, the cause of this outage, we certainly will let you know.

Melissa Lee (4:06)

Yeah, we're watching DHS Secretary Mark Wayne Mullin speak right now. Phil, have they said already that it is not a cyber attack?