>> everyone is buying peletons, but more important, people are getting pets to that point, proshares pet care etf own it >> being in a post father's day generous move, xhb in two months >> that wasn't quick and now we have no more time. doc, i'm sorry you can tweet yours out. >> it's okay all right. thank you. >> sorry, doc. >> no problem, steve >> kelly you got to wait for the music. thanks, scott, and hi, everybody, on this monday. apple is kicking off its developers conference right now. the stock is on a roll, having its best quarter since 2012, but it's now under scrutiny for its out practices. we'll bring you all headlines for this event bill ovigrat said the sec

will be positive in one area of the market choppy waters for cruise balance sheets and discount stores double down it's all ahead, yes, in rapidfire. but first don has those numbers for us >> can you tell how excited i am for rapid fire today let's talk about the markets right now because we are green across the board not by much, but still the bulls will take it as a win today. generally speaking we're talking about half a percent gain. the nasdaq is up almost one full percent here we're still above that 3100 mark, so that's something we'll keep an eye on for the s&p 100 stocks, trends, that sort of thing. you heard steve weiss' final trade in the "halftime" report sdpr a gold star today it's at a record high given what

we've seen with covid-19 and everything else, and one other place to watch, payments technology, fintech. specifically square because they get a gold star today. up 7% driven in part by an analyst upgrade over at barclay's. this stock has now climbed a wh whopping 220% since those march levels biotechnology, payment technology, hotspots we'll see if that payment continues. back over to you >> thanks very much. big tech is another hotspot. josh is monitoring all the headlines for us, and josh, apple shares are up about 2% what can we expect today >> kelly, this is first and foremost a software show, all right, so we'll expect to see upgrades across apple's multiple operating systems. you begin with ios 14. you're going to see some new

features, the there, including ability to recall messages, updated fitness app. safari language translator there are tools to build more ar apps watch for os 7 parental controls and a new sleep app. apple doesn't break out how many watches it sells exactly, but the team venture thinks they've sold 7 million in just 12 months there is a lot of talk that apple could announce its transition from intel processors to its own arm-based designs they said that could mean improved performance while reducing cost. apple is under scrutiny. we know european investigators have opened an investigation, but investors don't seem worried. this stock is on a roll for its best quarter since 1992.

>> josh, appreciate it we'll see you again soon with more of these headlines. josh lipton on this apple event. remember, just on friday, the major averages were thrown into disarray when apple announced it would close some stores in florida, north carolina and arizona because of covid-related concerns david rolfe and david. david, you've owned apple, correct? >> that's correct. we've owned it consistently since 2005 >> what gives you the certainty to hang on when you could probably sell this at a pretty good profit any time >> since we've owned it, it's interesting, kelly apple has really evolved into a very different company from when we first owned it, then we went through the whole iphone and now we have the services business,

and they continue to grow that ecosystem. that's our big bullish tailwind, is those incremental improvements year after year in that ecosystem >> they've got me with imessage, that's for sure. alphabet up 35%, facebook as well are these stocks too top-heavy in the market? >> well, they're certainly the leaders. what we're doing in this environment, knowing how much they've stretched, kelly, is we do have our equity team saying, look, if you have more than 5% of it, hold it, potentially trim it we're not adding over 5% in any of our strategies right now in recognition of the potential that the generals are out too far ahead of the army at this point, but they're good holdings >> so, again, the question becomes, what could derail their performance. you have people saying, john,

they can't even figure out what the markets are doing day after day because you have shares of amazon rising like clockwork do you have to worry about this trend stopping we've watched this play out for so many years that it becomes second nature. >> sure, you do. you have to watch for that stopping you put a limit on how much those are, but then we're going to go into the earnings season, kelly. that's going to be the first barometer. then we're going into election season that will probably be the second barometer for these fang stocks. those will be the two things our equity team is watching around those. >> both of those presenting some risk we've seen more chatter lately about apple's store practices. the interesting thing is any time we talk about it, the shares shrug it all off as though nothing is going to interrupt the business model what do you think? >> i agree with that what's interesting is when you look at some of these specific issues, people get upset about some of the practices, but even

last week about shutting down some of the stores, when we start to take a look at how important they are in the overall pie, they're not that large. so it's going to take a lot to interrupt the growth momentum at apple given the diversity of all of their revenue streams >> yeah. and finally, john, quick question about the markets overall. the president just made some news in the past hour in a scripps interview where he reportedly backed a second stimulus check for americans in the next coronavirus aid package. that package could still be a little ways off, but what do you think about market valuations here relative to the economy, and do we need not only a second package but direct checks? >> we would say first off we need that local and state government economic stimulus that's the first one the second ne, we need to know how employees do getting back to work by july 1st, that time

period what i should say is we've liked the titanic, timely, targeted nature of the fiscal stimulus. probably now it's time to wait and see how we do this summer, rehiring, reopening, see what resurgences in the cases that's what we're looking at in our shop >> it firms up my notes when you say, in fed we trust john and david, appreciate you both today let's turn to washington where we have a lot to get to from geoffrey berman's botched firing and tiktok recording president trump's rally. let's start with the personal moves. >> reporter: tumultuous events on friday going into late in the afternoon on saturday as attorney general mr. barr decided geoffrey berman should no longer be the person in charge of the southern district of new york. that's the wall street

prosecutor it's one of the most high-profile jobs at the department of justice. barr put out a press release saying berman was stepping down, but berman said that's the fists he heard of it and he wasn't going to step down that produced a standoff after berman appeared for work on saturday barr had to fire berman. that blocked what barr wanted to put in position and elevating berman's number two, audrey strauss, to run the shop in the meantime until they can find a senate-confirmed person to fill the job on a full-time basis all of that leaves open the question of what happens to jay clayton at the sec barr wanted clayton to take over that position, now not clear what's going to happen with that or whether he could get confirmed this summer or any time before the election we are going to hear from jay clayton at the sec at a previously scheduled event coming up at 2:00 p.m. on a different topic. we'll see what he says, if anything, about all of this. then as you mentioned, speaking

of transitions of power, kevin hassett is going to be leaving the white house, he confirms to me he was there for three months this time as an economic adviser brought in to help handle the economic crisis. he says he only planned on doing three months he started march 20th, so he's wrapping up his tenure at the white house now, kelly >> it started on march 20, the market bottomed on march 23rd. that has certainly been the crisis period. so many questions, eamon i suppose jay can stay as chair for the time being, but i also want to get to the role that tiktok played if we can even tell for sure in terms of all the tickets that went unused at the president's rally. >> reporter: hard to say what the ultimate impact of this was, but you're seeing tiktok users saying they had a social media campaign to snap up tickets to the president's tulsa rally over the weekend to register, and you saw the trump campaign bragging in the days leading up to that rally just how many people had

signed up and registered and how much data they were harvesting from all those people. it could be this was sort of a massive senior prank by the high school students of america in order to make the trump campaign think it had oversold that arena. ultimately just over 6,000 people, we're told, attended that event there were a lot of empty seats there. the president is said to be very frustrated by the lack of attendance at that event but we can't say for sure, kelly, that the tiktok activity, whatever it was, was directly responsible for that lack of attendance it could just be that people in oklahoma were scared off by the virus and the resurgence of cases in tulsa and decided, you know what, i'm going to sit this one out. >> the bigger concern, obviously, for the president's reelection campaign is whether there is just a lack of enthusiasm that could overcome those concerns about the crowd or what have you to that point we have the real clear polling average right now with biden up 9.5 points the forecast model as him at 47% and the prediction models have

him at 58% >> you can't look at the polls, you need to look at the electoral college polls state to state. in our own cnn poll, we have seen biden take over a lead, in some cases a very small lead, but in all the battleground states that we are watching,so that would imply joe biden is in very good shape in the electoral college. but it's june, right there is a long way to go with this this president has thrived politically off of the intensity of his base and his following. if that intensity starts to dwindle, that could be really challenging for his campaign, because this is not a president who has had a big tent approach to this. this is a president who is focused on maintaining his base and intensifying their emotions and then driving them out to vote if that starts to go sour, that could be a problem, but it's still early. >> eamon, we appreciate it, thank you. eamon javers

airbnb and the challenge of this pandemic. and there could be a change in the helm at sec and a struggling retailer the gap to what is the only overrated rating on the street we have those details coming up. ever since we've gone mobile on the now platform, something's gotten into the office. i hear you. feels like there's no barriers between departments now. servicenow. the smarter way to workflow. with spray mopping to lock away debris and absorb wet messes, all in one disposable pad. just vacuum, spray mop, and toss. the shark vacmop, a complete clean all in one pad. can i find an investment firm with a truly long-term view

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welcome back airbnb, like many other companies, won't look and operate the same way post pandemic cnn's brian chesky says that's made the company stronger. diedre bosa joins me diedre >> chesky says the travel will never look the same again. >> we have more hosts since before covid started the important thing here is the market is resilient, the community is resilient and i think the one trend that is going to happen is the following. travel as we knew it is over it doesn't mean travel is over, just the travel we knew is over, and it's never coming back >> reporter: now, to prepare for this new world, airbnb has made

some difficult cuts. a quarter of its staff and a billion dollars in marketing costs, the company is also getting back to its roots: home sharing. they've made major moves into the hotel space, but now they're scaling back those plans and that could raise some questions for its eventual ipo getting back to basics, that could mean less revenue streams and opportunities for expansion. how will investors value this new company? here's what chesky said about the timing of this ipo >> at this time we're not ruling out going public this year, but we're not committing we want the world to be ready for airbnb which means travel needs to see more recovery, the market needs to steady a bit we have nothing new to say but we're not ruling anything out. >> reporter: now, kelly jur, jua few weeks ago it would have been unfathomable to think that

airbnb could go public this year, but the fact it's on the table, it shows what airbnb has at least begun to see. >> he was trying to maintain this, yes, we're ipo-ing, but now he seems to be hedging that in terms of the timing this year it was also interesting travel as we know it is over and never coming back. that's quite a statement what do you think he means by that >> reporter: i think he means, skpeez ba and he's backing this up by what airbnb is saying, is that people are not going to go back to just getting on airplanes and booking as they used to. it is quite astounding that at least domestic bookings have rebounded on an annualized basis, so they're focusing on that sort of home experience they don't think people are going to go back to hotels we'll see. i think there is important questions if we do see a

vaccine. do people go back to hotels? do they maybe lose a step by scaling that side of their business down? these are all key questions and why he says he's hedging his ipo a little bit >> absolutely. it's super interesting diedre, great interview and thank you for bringing that to us coming up, the closing of the malls isn't just having an impact on retailers, it's dealing a big blow to towns across the country we'll tell you what the consequences could be. plus, september. that's how long cruise lines will have to wait before they set sail again how much longer can they survive with zero revenue? "the exchange" is back in a couple oh, we love our new home. neighborhood's great. amazing school district.

the hoa has been very involved. these shrubs aren't board approved. you need to break down your cardboard. thank you. violation. violation. i see you've met cynthia. at least geico makes bundling our home and car insurance easy. and it does help us save a bunch of money. two inches over regulation. thanks, cynthia. for bundling made easy, go to geico.com while the future of work thanks, cynthia. remains a question mark, one thing is certain re-opening will be a journey. that's why salesforce created work.com to help at every step of the process, with tools like manual contact tracing to help prevent one from becoming three and three from becoming more. while displaying key information in one place on a customer relationship platform you trust. because here's one more thing we're sure of. relationships are the heart of business. so let's tackle this together.

welcome back to "the exchange." let's get a look at the markets today. the dow up to 114, about half a percent. the s&p up to 116.

the dow has been flirting with that, 18 points below right now. it's kind of a mixed bag you do have technology in the leadership not too surprising given what i just described it's up 1.5% flip side? real estate down two-thirds of one percent. health care also a little weaker today. we'll start with shares of virgin galactic. they are taking off on a deal with nasa to have a recruitment training program for astronauts who want to join the space station. virgin galactic s&p ticker up 14% today. and peloton up to $62. that's the street high stocks just under $54 today.

they're bullish on pe leton's momentum american airlines is doing new financing. it's going to be done through a combination of selling stock, doing senior secured notes and opening a new half a billion dollar credit facility new liquidity but still some concerns for the balance sheet >> i'm rahel solomon and here is your cnbc news at this hour. president trump says he supports a second round for direct payments to americans as part of a second stimulus package. this is confirmed by scripps national news. house speaker nancy pelosi responding to the president's admission that he did not seek punishment against china for its mass interment of its legal population last year on the fear of jeopardizing trade talks.

pelosi accuses the administration of selling out on human rights and called the president's quote appalling. the golden globes will host its seventh award show on february 28. that's cnbc update at this hour. kelly, i will send it back to you. apparently, kelly, the show will go on. we just have to wait until next year for it. >> they bumped it back a few weeks. i don't know what difference that's going to make >> i haven't watched those shows in a long time >> nor i, rahel, thank you very much turning down retail, the pandemic has left many of america's malls reeling and that's having a big impact not just on the companies that operate them but the towns that depend on them get this, malls and shopping centers across the country provide $400 billion in local tax revenue each year. for more let's bring in cnbc's lauren thomas who just wrote an article on the ripple effects of these closures

lauren, i guess the best we can hope for is a swift reopening, but again, i wonder how much of that revenue is predicated on malls going back to where they once were, and even with airbnb, i wonder when that's going to be >> reporter: sure, kelly, and thanks for having me that $400 billion figure each year, that's a substantial amount of money that malls and shopping centers are pouring into these local tax coffers i think often we forget when we talk about the demise of the shopping mall just what role a mall can play in a community when i speak to tom mcgee, the coo of the retail group sse, he tells me he's very concerned about how this will ultimately pan out. this money, either sales taxes or property taxes, are funding school budgets, police infrastructure, so there are certainly many more consequences beyond just a community losing a place to shop or grab a bite to eat in a food court if a mall is

to permanently shut. >> lauren, i remember we spoke about this as well a couple weeks ago the "washington post" kind of rang an alarm bell, and the point then was it's not even so much that the malls might not be able to pay any of this money, it's that they might choose not to. they might view this kind of bill as somewhat fungible given what's going on, and maybe they hope wall street will come up with some bailout money and maybe they won't have to pony up >> sure. i think many developers are in certain ways waiting for the government to offer them something. you see some small businesses obviously getting loans, but in many instances, retailers aren't paying rent. when a retailer doesn't pay rent, that ultimately means the landlord can't pay its own bills. some of these real estate developers saying they're collecting anywhere from 25 to 30% of rent for the month, you know, which is not near what they need to keep their own business afloat. one mall owner, cbl, it's a

publicly traded mall owner, and it's already missed two interest payments during this pandemic, and now is in a grace period could potentially default on those loans and potentially declare bankruptcy, and if so, it would be the first mall owner to do so so, yes, like you said, there are many consequences, you know, when the retailer's stores are shut it kind of trickles down all the way through the food chain >> reporter: and as you said, local investors know communities count on their sales taxes and property taxes if push comes to shove, they may have to let that go. lauren, thanks very much you can read the whole piece on cnbc.com the demise of america's malls can be a blow to the towns that depend on them coming up, new developments on the drug recommemdesivir tha make a big dfence ifrein covid treatment. it's all ahead on "rapid

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welcome back and let's catch you up on a few stories that should be on your radar today. it is time for "rapid fire" and here to break down the headlines is courtney reagan, dom chu and alma modi. we have a break on the coronavirus. there will be a treatment starting in august for the hailed drug emdesivir. customers are looking for an easier way to administer this drug this could be a helpful thing to get this drug out of the hospital, right? >> it could be really helpful. right now this is given by daily infusion with an i.v., so by the

time patients get to that point, they're already pretty sick. it's thought that this drug, because of the way it works, could work earlier at the beginning of the disease it could be give binen by a nebulizer and gotten outside the hospital if people could get it before they become hospitalized, it could stop the disease in its tracks earlier and the hope is it would work better but we have to wait for the result of those trials which, as you said, begin in august. >> true, it's not like it's starting tomorrow. but gilead, why do you think shares are down because of this? >> there is a real investor kind of at least story line right now about just how important a drug like remdesivir can be to a very large company like gilead, or to any large company that's trying to break in this front if you can see the needle move

in a company the size of gilead, it may not be something like this there is also this notion that if you could come up with a drug, a vaccine, a treatment, anything related to the coronavirus, how much would you or can you really charge for it? there is a lot of stuff out there saying, you know, maybe they should do this at break even just so you can get this global pandemic taken care of. it's more a service to the human race rather than being a profit motivator. that's the reason, by the way, when you show the year to date chart of gilead, the stock has been all over the place but it generally hasn't done very much in response to the positivity around remdesivir, and that's probably the reason why. >> real quickly, meg, are you hearing anything about pricing yet from the company is there any scuttlebutt around this >> yeah, the company is donating its existing supply through this month, but we are expecting a pricing decision really at any time if you read the entire letter from gilead ceo dan o'day, he goes through the company's commitment to infectious disease drugs, antivirals, sort of

priming the audience for an announcement of where they will price this drug. we're hearing anywhere between 1,000 to $5,000 a course it will be very interesting as to where they do price this. let's turn to the cruise lines now. it's been super rough sailing for them since the pandemic began, obviously carnival announced they're extending trips through the u.s. until september 30th this is just after carriers agreed to extend trips through april 15th carnival still down 67% this year seema, why make a big announcement for a two-week extension? >> i think right here what we're seeing is with every sector, kelly, sort of putting their path forward, the cruise lines have been halted since mid-march and now you have carnival with this new decision to delay sailings until september 30. maybe it just buys them time

the conversation i've with individuals in the cruise line who works at these cruise operators, they're saying they're trying to propose different changes they can make on board, running these ships at 50 to 60% capacity ultimately they can't make these changes without getting some type of guidance from the cdc. there's sort of this push and pull between health officials and the cruise operators that are seeing their ships at the ports. they're waiting to get some type of green light, and in the meantime, sailings continue to get extended if you were hoping to get on a cruise this summer, that's canceled, and now not till fall at the least >> i want to know when courtney would get on a cruise. >> you know, kelly, i think you're either a cruise person and you're not i can say i've been on one, but it's been a long time, and so i can't even remember the different health and safety precautions that were taken. i kind of want to know the liability. what if i went on a cruise and i got sick what are i am optimy options what could i do if something

happened what is the cruise responsible for? i don't think i'm brave enough to be the first one, either, and maybe that's what the cruise lines are thinking where people go, no carnival yet, you go. >> the most obvious candidate, like my daycare, you go down the list and liability is a big one. >> liability is something they'll have to think about especially as they allow for passengers to get on board that's a really great point that courtney makes but i will also say that for those who cruise, they love it they literally live by it. families across america who have three children, they want that one vacation, those drink tickets, send the kids to the pool for some americans it's seen as the way to travel. and so i already know a lot of people who want to get on a cruise in 2021 anecdotally speaking, and in fact it is starting to show up in bookings for all three cruise lines, carnival, norwegian and royal

caribbean. it's about 12 to 14 months they have of liquidity to last in this no-sale environment, but i bet you'll see a lot of these cruise lines go back to the debt inequity market to raise more cash if they can today is a double upgrade in the retail area. gap more than doubled the price market to $19. they're saying two components of the company are underappreciated, both real estate and their brand the shares are rallying about 7% on this. they canceled old navy, right, so i think the real estate and athleta is all the value right now. >> they're trying to look at it and see how many parts of this are really appreciated and valued by the market, frankly, and they go back to their models

when they canceled the old navy spinout, as you pointed out. wells fargo says, look, we think the san francisco headquarters and the four distribution centers they own plus the athleta brand is 90% of the enterprise value what they say is, you know what, we're going to upgrade our shares to overweight, we're going to a $19 price target -- and they even called their own call controversial they just think it's been underappreciated and the point they make, because that potential old navy spinout didn't work, and if the founding father and the old board are looking for spending opportunities, athleta might be the answer, because it's not being appreciated by the market, at least in this analysis. and we have an analyst upgrading walmart. while most have stuck to retail in the pandemic, not t.j. maxx we take a look at how the pandemic has changed everything

except this place. they said, quote, strategically nothing will change. it's not looking to ramp up e-commerce any time soon, guys you're either a cruiser or not i love t.j. maxx i don't need them to change anything, but how long can they go like this, court? >> to your point, either you're a t.j. maxx shopper or you don't. you may love digging through the racks to find something special that you couldn't find online, because it's just 2% of their sales, or you're not the people who have been missing it are ready to go back. i've seen some really interesting pictures of socially distanced lines outside many of these off-price stores the shoppers are ready and t.j. maxx said, look, it worked before, it's going to work for us afterwards. >>.co dom, what do you think? >> i used to be a t.j. maxx person it got a little difficult for

me but nowwith e-commerce, you ca find many of those off-price items without having to go into a t.j. maxx or a marshall's and sifting through everything if you do like the treasure hunt, like courtney says, it's great. but i can find online versions of many of those things from retailers i already know about and the brands i like without having to go through that whole process, and these days my time has become increasingly important. >> courtney is looking so skeptical. >> it's not the same the treasure hunt is just not the same online, dom i hear what you're saying but that's a targeted search you go into t.j. maxx because you don't know what you'llfind >> i would say homegoods for sure >> i've been there twice in the past three years anyway, before we go, guys, this headline i just have to bring to you. valentino is suing to terminate its fifth avenue lease in manhattan. they said it's no longer

workable in a post-pandemic city should that day arrive do we think valentino could get out of a lease, and what does this mean for fifth avenue for all of manhattan seema, i'm going to ask you. >> courtney is the retail expert, but it's interesting when you see how valentino speaks to luxury and that international tourism they really bank on right now travel restrictions are still in place the chinese are certainly not coming to new york to shop down fifth avenue, so this is one way valentino can cut costs is through their retail footprint >> it will be interesting to see if they can get out of this based on this, and if so, wouldn't everyone else on fifth avenue flee, too court, quick word. >> i think this is just one example of many. i think lawyers will be super busy because every retailer and every shopping center will be fighting each other over who

owes who and they'll all walk out altogether >> there is a lot of ketentacle if they're correct here. thank you all. appreciate it. i'll see you at home, dom. coming up, crypto investor says the cdc could mean very good things for bitcoin. he'll join us. and the great covid coin shortage what it means for the economy. stay with us quadrupled their money by 2012? and even now, many experts predict the next gold rush is just beginning. so call us money reserve, the only precious metals organization led by a former director of the united states mint. as one of the largest us gold coin distributors in the country, us money reserve has proudly served hundreds of thousands of clients worldwide. there may have never been a better time to start diversifying your assets with physical gold and silver.

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which will provide you important, never-seen-before facts and information you should know about making gold, silver and platinum purchases. pick up the phone and call america's gold authority, us money reserve. with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, us money reserve is one of the most dependable gold distributors in america. welcome back we've got some breaking news out of apple's improper event. josh lipton, what's going on >> the company's new mobile operating system, they're rethinking car keys. apple is introducing a new digital version of car keys. this is a new feature that would

basically allow you to unlock your car with your iphone, so no physical key would be required the new 2021 bmw 5 series apple says will be the first to support the feature available next month apple also making the case the digital key it's come up with here would be more secure than physical versions and the feature would be available in ios 13 and ios 14. it could be interesting if apple gets more car makers to sign on, kelly. >> yeah, and also because more car makers are doing this on their own and they're trying to get in there as the ios people meanwhile, toilet paper and hand sanitizer aren't the only thing people have been hoarding during the pandemic. they've been hoarding coins as well ylan mui joins me with the details. ylan >> kelly, this is my problem here is my coin jar. as you can see, it's pretty full people are just not going to the

store as much as they used to, and even when they do, they're not paying with cash and coin, they're paying with card that means all of this money is not getting back into circulation. at the same time, the u.s. mint has had to adjust to the coronavirus as well. last year it produced 12 billion coins. this spring it had to slow down production so that employees could social distance, and that impacted the number of coins, too. as a result, the federal reserve is now warning of a low coin inventory, and some banks have gotten so worried they're even turning to their customers for help >> what i did was we have some gumball machines which we only take the money out of about once every six months, and i said, well, we'll go and remove those early, and that will add to the total that they need >> reporter: now, the mint has said it's adding weekend shifts to help catch up with production, and the fed says this problem will eventually resolve itself but kelly, if you've got some extra change lying around, now

might be a good time to bring it in >> so fascinating. all of this out of the fed on capitol hill that's why we watch. now let's bring in jim g gaharity he is the ceo of coinstar. so fascinating what's happening, people aren't coming to your coin kiosks >> that's not it at all. the issue is people have stayed in their homes more frequently grocery trips are down at the height of the pandemic, it was 20% less trips to the grocery and there was less time for people to do coin transactions trust me, there's plenty of coin out there, it's just not making its way to the right place at the right time >> who is it that needs coins? who is at risk if they can't get the coinage? we've heard about it from banks, but where does the coin need to

get to >> it needs to get into retail retail is the primary user of the coin it also needs to get into the banking institutions to supply retail that's really where the need is right now. we're asking consumers to come out and do their coin transactions now in order to get that supply chain filled again, and then we can help to recirculate that coinstar does about $2.7 billion of coin recirculated each year, and that makes its way back into the system it supplies the banks and the federal reserve bank for the demand that's being fulfilled back now to retail so retail really needs it. >> one of the things people have been doing because of their concern about the pandemic is trying to not use cash, and i assume that includes kind of touching coins probably a different story if i'm bringing something that's sitting at home and depositing it in your machine, but what do you say to people who are wary about touching coins right now >> i think the cdc has been quite clear about this the highest risk you have for transfer of the disease is person to person, close contact,

you know, the water particles that are coming from people while sneezing or coughing that really does it. and it's been clear that on surfaces it really only lasts a very short period of time. people are touching door handles, they're touching money, they're touching everything, really but the primary way, according to the cdc, is person-to-person contact. i think you're fairly safe, and, of course, washing your hands is pretty important >> is there any kind of goodies you can offer people for getting those coins into your kiosks right now? >> i think the most important part here is fulfilling the supply chain so asking them to come and do that, and they don't have to go to coinstar, they can go to banks in order to recirculate that coin. but we need to get it back into the system in order to have supply and demand as we go into the summer and fall. >> fascinating you guys have a great business owned by apollo in 1991. thank you for being here >> my pleasure >> jim gaherity is the ceo of

coinstar michael novogratz will be s ining us hinew policy of what he calls white glove service to install bitcoin. stay with us can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. talk to your financial professional or consultant we're committed to making college more affordable., that's why we're keeping our tuition the same through the year 2021. - [student] i knew snhu was the place for me

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he was saying this could speed up the approval of a cryptocurrency etf joining me with more is mike it's good to have you here welcome. >> thanks. >> explain to me the line of thought. it seems that sec chair clayton isn't as friendly toward crypto currency as another regulator

might be. >> listen, he spent most of his term, i think, focused on what we call regulation best interest which comes into effect at the end of this month. it seemed like he didn't want to deal with the issues listen, i think it's a good piece of legislation and it would be a great legacy for him but us crypto guys have been wanting somebody a little bit more engaged, a little bit more active, a little bit more forward looking and so hopefully, you know, there's plenty of good people out there. carlo, hester pierce that was a sec commissioner and so i think all three of those would be great picks. >> what about -- >> if you're listening to president trump. >> right right. exactly. if you're listening. mike would like the following sec chair but what about those that are much more skeptical of

cryptocurrencies and their viability and whether that sec chair should be so open to them. >> you guys just had a pretty quaint conversation we are moving into a digital era and we're still talking about quarters versus nickels. and they suggested to do a regional cryptocurrency that becomes their trade currency so we need to get our act on the ball fast

that really become what we transact. >> here's what always confuses me about that line of argument we have digital dollars. i use them every day with venmo and other things why do i need a crypto currency. >> we certainly do you're limited to how much you can move around. we have apple pay. we have plenty and listen that's growing. there's going to be a big battle over payments. is it going to be a centralized system or will it be where privacy is going to orchestrate into the system like a digital or a crypto dollar and that will be dollar based. >> one more question and it's on the value of bitcoin if i told you, hey, there's going to be a national pandemic. people can't get access to cash literally among other things, do you think it would be the

perfect environment for bitcoin to spike it didn't. it sold off this week. most people see this as a disappointment i wonder if bitcoin shouldn't be stable in value because that was part of the attraction for use generally. what does it all say to you? >> i don't think bitcoin is going to be used as a payment currency, certainly in the united states. the dollar is stable still they are buying it for the same reason that they're buying gold and the value of the dollar can go down so the possibility of a big dollar devaluations has gone -- it's higher. it's not a base case

it's certainly higher. so people are using it as a hedge for hat. the staggering stats of on just who is benefitting we'll be back in two

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do you think everyone appreciates it? i do. huh... forgot my glasses. serivcenow. the smarter way to workflow. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. welcome back many areas of retail have been hit hard except for e-commerce

that's seen explosive growth for a closer look at the numbers and the winners let's bring in frank holland. >> 90% this year is due to the spike in residential deliveries due to the pandemic. the current covid 19 is a national emergency it's the dividing line of the first five months of the outbreak and it illustrates the shift in packages. amazon made the biggest gains shipping nearly a third of all e-commerce compared to a fifth in the same period in 2019 now looking at grocery delivery. that grew 50% year over year before mid march after those sales nearly tripling as more and more americans just avoided instore shopping and the majority of restaurants open these are trends continuing at least in the near term you look at the forecast growth of paid memberships. >> jobs, do jobs follow where

the growth is. >> that's a big part of it amazon and instarting rotation car -- instacart. amazon was 175,000 for instcart 555,000 and other companies struggle to meet demand in appointment time. >> frank, thank you, sir that does it for the exchange. i'll see you on power lunch. >> thank you, and indeed you will in just a moment. this is power lunch. it is in the face of a record increase in global coronavirus cases. we'll talk to a top doctor in florida. one of the growing hotspots in the u.s. take a look at the names hitting highs today. some of the stay at home trades among them all at or near or having t