look forward to that happening. >> i enjoy the conversation, look forward to the next. thank you, jeffrey gundlach. and thank you, jeffrey. can you give me the name of a final trade real quick, shannon? >> analon devices. >> gbc. >> and bitcoin >> and general motors. >> thank you, and jeffrey gundlach as well. >> the exchange is next. well, thank you, scott, and hello, everybody. i'm in for kelly all week. the contours of the relief package as what the next relief bill should or should not include and why if you are hoping to get a $2,000 stimulus check sooner or later, and you may want to focus on later. social media is looking to take

a stand on the trump platforms and others are praising the move, many say those companies are part of the problem, an investors may agree today. and bitcoin is down almost 6,000 bucks today, and we will find out why. and why the retail investors are needing to be careful today of anything that slaps bitcoin or blockchain on the name. and what we want to do, let's start with the markets and your money, and who else? dom chu. >> and sully, the markets and the money are at session highs believe it or not, because the dow is down modest 20 points, and call it flat. at the opening bell, down 266 points, and so a nice decent rally throughout the course of the morning and throughout the trade. and the s&p 500 is down 1.25, and 31,079 there.

and target is getting a gold star and so does eli lilly surge on the heels of one of the alzheimer's treatment candidates driving it higher, and target stock is hitting the all-time higher, and the consumer is playing out big from pandemic, at least from the big box kind. and you mentioned bitcoin, and late last week that we hit intraday 49,100, and depending where you looked and right now, we are looking at that 58.86, and so we have lost 27% at the lows, and bitcoin is a huge mo higher, and very quickly, and maybe not so surprising that we pulled back as quickly as we have, and still 32,763 according

to coin base. >> you are proving me wrong. i said it is down 6,000, and maybe it is the interview with gundlach, cho. >> who knows. >> well, certainly the market is down, and we will see you here all day long. and now, the democrats in the house are pushing forward with the impeachment of trump. with the grotesque events of last wednesday, it may not be as easy as some think. we go to eamon javers. >> yes, they tried to move a resolution to the floor under unanimous consent which meant that anybody could stand up to block it. the resolution would call for mike pence to step in with the 25th amendment to remove president trump today from the office, and the republicans did block that, and the democrats say they will bring it up for a vote tomorrow, and if mike pence

does not mo forward within 24 hours in terms of the 25th amendment to remove the president, well, then they are moving forward with the articles of impeachment. and steny hoyer said that vote could happen as soon as wednesday on capitol hill, and so the democrats are moving quickly to remove a president they say is a threat to democracy, but it is not clear, brian, as to where this is going to go up in the senate they feel like they have the votes in the house to impeach, but a trial then in the senate, and could it happen before january 20th before the president leaves office anyway seems unclear, and then will they have an impeachment after the president leaves office, and the goal is to prevent the president from running again, and to post him of some of the post presidential perks, and they could do that in the senate

after theresident leave office, and president biden takes the off. and lawmakers are struggling to respond to the violence they saw wednesday. >> and let's switch gears here, eamon, because the fallout of it is the lack of security, and the lack of coordination of maybe the metro police, and the capitol police, and the fbi and other agencies, and you have the inauguration of eight days off and including today, and what kind of security are we seeing ramping up, and new threats of any potential violence heading up to and on the day of to inauguration on the 20th >> we are seeing if heightened security in washington, d.c., as the officials are trying to put the assets in place to protect the inauguration, and muriel bowser, the mayor, says she has been in touch with the federal officials and saying that there are groups who are armed an

dangerous, and twitter said as it shutdown the president's account that it is ongoing efforts to organize an attack on the capitol january 17th, a couple of days before the inauguration, and there is concern ant that as well. so there is a sense of siege here in washington as people are trying to figure out if there is 2509 attempt on the capitol, and the threat of violence is certainly high at this point. >> it is. and let's hope that the platforms which enabled mass organization, and most often anonymously, and let's hope that they are cracking down, and everybody is watching for any sign of this. am eamon jaifrs, thank you. and now, the markets are still green, but we are still down from the markets of the new

year. and you have rising interest rates slightly, and concerns of inflati inflation, and a market is heading into the new direction and away from growth, and technology, and the cyclicals, and the industrials, and the energy and oil stocks, and here to talk about it is the head of the wells and fargo strategies and securities, and charles is joining us as well. so i will give you a plus one for the quotes, but from the macro perspective, and you heard what eamon javers said, and the mayhem in washington, d.c., and regulatory concerns around social media and other internet company, and is it harder to be bullish today than it was a week ago or do you look forward >> brian, i think that you look forward and not to say that they are speed bumps in the road. one thing that equity investors

have been doing is to expect some fluctuation in the markets. it is not decaying as fast as we saw last year. so they are expecting a little bit more uncertainty, and it is making it easier for the equity markets to make it more resilient even though i don't have the last hour. >> charles, as a nation right now on so many levels. the markets priced out ahead, and what do you see? >> yes, the market is in the direction of change. the market was killed when the pandemic started to get bad and started to come back when the direction changed. although last week was a terrible week, we will be in

better shape next week, and in three weeks and in a month. so that rate of change is accelerating so we will start to see a ramping up of the vaccination, and ramping up of jobs, and you will see an acceleration of the good news. >> yeah. and maybe all of the terrible news could cohesive, or cohere the united states, and bring us closer together, and kind of like arnold schwarzenegger said yesterday. the russell 2000 is up in 90 days, and you your team believe there is more to come, and how come >> you think of how the russell 2000 has underperformed the dow, and now that it is a laggard and it is starting to perform, people will say it is starting

to perform, and the small caps are not just the riskier fruit, and the investors right now, if they have a risk appetite, and they believe in the economic recovery down the road, they will want to be in the groups that are more sensitive to the recovery. something to point out, too, we are going into x4 earning season, and the growth over goethe improvement which helps the investors to look forward, but with better expectations, you have to put up better numbers, and we are not sure that earnings can keep up with those expectations >> and by the way, if you are under 35, you don't know what inflation is s and you going to wikipedia to find out what it

is. it is a shipping tanker. and you think that madison avenue is where to be and certain banks? >> right. inflation is something that people have not seen over the next six months, and lower cpi in june, and then you can't have a 10-year without inflation at that rate. so the growth scotts have the earnings and then interest rates hits in that value, and we will have the people realize that there was a bond bubble. and that bond bubble is interesting here. >> appreciate you both coming on the exchange. >> thank you for having us, brian. >> on deck here, the debate over

another covid relief package is underwait before the one that congress is debating even gets done. could you keep your hopes high but the expectations low. social media is looking not so social lately? even with the new regulations possible, why jeffrey says that facebook is the stock to own the analyst before that stock is going to join us. >> ts hiis "the exchange" on cnbc.

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all right. welcome back to the exchange, and good monday afternoon. $2,000 covid stimulus checks and student loan forgiveness, and we have a closer look at what is in play. ylan. >> president-elect biden is going to unveil the plan, and moderate democrats are already opposing them. senator joe manchin says it is not carte blanche, and bernie

sanders says it is a plus. ron wyden is going to try to boost those proposals by $600 a week by october, but maybe that is too much and too long for some democrats, and there were 18 house democrats who voted against the heroes act, and so now there are 18 of those democrats who voted against it are now occupied by republicans. and so now, they want to raise the minimum wage, and create 600,000 jobs to care for the dependents and the elderly and the children. so this is a test of biden, and also went over 10 senators as

well, and so we are likely to be stuck in gridlock as well. >> so what have we heard from the republicans at all have any indicated on the record that they would be willing to go with some of the stimulus ideas regardless of the debt, and whatever they believe they happen with the economy? >> i think that right now a lot of the republicans are waiting to see where the democrats land. one of the challenges that the democrats face is that the chief champion for the $2,000 stimulus checks is josh hawley who is persona nongrau ta, and he is missing in action, and so who is going to be expected to cross the aisle is unknown. so how the democrats decide to do it in a bipartisan way with the republicans or try to pass it through a budget reconciliation process is going to help to determine what exactly is going to go into the package, because there are constraints in both ways, and both strategies on this, and

that is going to help to shape exactly the types of policies that they can pursue, and how big of a package they can achieve. >> and watching the speaker of the house pelosi last night, it was not clear that the democrats themselves were aligned. thank you very much. so for more on the opportunities and the roadblocks that can impact the businesses and more, let's welcome in penny pritsker. and she has been called the quiet architect of the biden's plan to rejuvenate the american economy. and so penny, i know that you are dialed in on the democratic side, and what do you believe will be passed by this ongress >> look, what i know is that, there is a agreement that we have to help the people who are hardest hit in our country, and that means that there is more work that needs to be done by

the workers that were working in the first quarter of 2020. we had disturbing jobs report where 140,000 job were lost at a time when the jobs were created and so that is jobs stalling and action needs to be taken and we need to help the students who are trying to better themselves and put themselves in position to be a part of the economy is essential, and keeping people to have the housing and food. these are fundamental. and so, i think that there is a general recognition of these things need to be done in the next stimulus bill. the other is really understanding that -- >> penny, let me jump in a second, because i want to dissect this piece by piece, and on the business side, you have to keep the people in their home

first and keep them employed and what does student loan relief have to do with the studeimulus down the road? >> well, it is another way of helping those folks not to default on their student loans, because it will affect them being fully participants in the economy whether they are in the educational system or just out of the educational system and most vulnerable in the time, and that they are not thrown off course for a long time because of the crisis that we are facing >> although the people who paid off the law school loans or what

two years ago are going to be a little bit frustrated, penny. but you from chicago, and the new york governor tweeting out a hour ago that we cannot lockdown until the vaccines are sent out, and we won't have anything open, and in chicago, and many of my friends are going to say the same thing, and how worried are you that the stimulus that gets past that we are beyond the point of return for many of the restaurants and the small businesses and the windy city. >> well, we are not beyond the point of no return, and we have a robust team put together by president-elect biden to address the crisis and the covid pandemic, and we need to get the folks vaccinated number one in terms of the restaurants, hospitality, and travel and the service industries which have been massively hit, and that is

a big part of the 10 million jobs that ought to come roaring back if we can get the pandemic under control. so that is job number one is to address the pandemic. and job two is recognizing that we have to make sure that there is a bridge for the individuals and the businesses so that they are there at the end. yes, there are unfortunately, there are many small business that will not return. that's tragic. and it is horrible, but we need to help those who are doing their best to stay alive in this time to make it. and to reblossom once the economy is up, and at full steam, and we have to invest in

the infrastructure and and the -- >> there is a lot to discuss down the road. and we welcome you back on cnbc any time. >> i look forward to it. >> thank you. >> thank you. >> and so, investors are jumping into the bitcoin quickly and jumping out as quickly with the crypto falling within 20% at one time, and still down 11%, and 4,200 buck, and we are going to tell you why, because it is not just bitcoin that investors are running into, and just anything to slap bitcoin on your name, and you may get a buyer. the bitcoin exchange. we will return after this. it's a thirteen-hour flight, that's not a weekend trip.

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all right. welcome back to "the exchange. and the markets are down, but they are only down by 0.1 of 1%, and the dow was up earlier, and so the markets are pulling back and technology is the laggard and the trend of 2021 of the faang stocks and the generals have left the battlefield, and looking at the rotation. you are seeing the technology down, and who is on top this year energy. despite many rumors of the death of dinosaur juice, the oil is up, and the oil-related stocks are higher as well. we are seeing the energy sector coming up this week, and 9 of 10 weeks and one of the best

performing subsectors of the s&p 500. and one of the single stocks for you, and stock one is crocs after the shoe company raised the outlook through the full year, and sales are to accelerate and everybody wants to be comfortable at home. random,but the croc shares are up 77% over the past year, and game stop is on agreement with rc adventures, and the immediate appointment of three new board members. and speaking of three, the magic number in stock three, denny's down by same-store sales fell in third quarter. and of course, when the dining rooms, and restaurants are not allowed to open, there is going to be some head winds there, but the shares are not hit too bad. now, outside of the business and getting a cnbc news update with

sue herera. >> good to see you, brian. this is what is happening at this hour, everyone. in an effort to protect joe biden's inauguration from a repeat of last week's capitol, the district of columbia's major is calling on the federal government to make it harder for a mob to gain momentum. >> i am requesting the secretary of the department of the interior so any and all gathering permits in the district of columbia, and deny any applications for a public gathering the of the period january 11th through january 24th. >> the house of representatives has a new security chief. tim blodgett was sworn in, and the deputy to the previous sergeant at homes paul irving who resigned after the pro trump mob made its way into the building. and there is humanitarian

repercussions if president trump continues to call the yemen coalition led by the houthi a terror group. and so the bears are getting crushed by the cryptos. it was down nearly $7,000 earlier today, but not so much today. it is still down 4:00, and hope you are not making your move there to bitcoin, but it lost 200 billion in weighing in, and bitcoin's parabolic rise is unsustainable, due to the technical upside has been exceeded, and time to take some money off of the table. and scott is going to join us on this show later on this week.

so how could this impact all of the retail investors and retail acolytes from joining into bitcoin mining and blockchain and anything with those combinations of words on the name. well, we have a couple hitting here, low wist littleton, and kate is getting to your story next. i pity whose on beyond you, and how come in the blue were they smacked so hard today? >> well, a bunch of issues involved and the comments didn't help. the dollar is stronger and hitting a two-week high and looking at the dollar index, and the minors were selling. back to the dollar index rising makes bitcoin cheaper, and harder inrates which hurts bitcoin with the inflation

hedge, and we had minors telling bitcoin, and we are seeing a futures exchange that the users like to use, so that is it it is a lot of profit taking today. >> lawrence, a quick one before we go to kate. are you hearing anything about the coin base or getting down, and people hitting me up on social media saying, i am having issue here, but what you are hearing? >> yes, coin base is hearing something that is saying potentially the indices based off of $350 differential between what they publish, and what the rest of the market is showing, and that is going to affect the future markets, because that is how they price. but thising to happen a lot when

coin base and some of the other exchanges all have trouble, and whether it is they can't handle the primetime or handle the massive amounts of volume. >> well, the volume has picked up, and lawrence at the desk. and let's turn to kate rooney, and even with the drop in bitcoin, it started at one point in the year 4,200, so it has been red hot. it is not the only fact that bitcoin or blockchain has been bout up. >> yes, that is the same as trends and searching for blockchain are way up, and the story was the institutional investor getting in, and lot of the retail investors getting in.

and not necessarily blockchain, but marathon patent which is a crypto mining company, and another company called future fin tech, and sos limited that does the crypto currency at some mining company down in texas. and a, rall they raled -- they rallied up, and so we saw that when they were a crypto company instead of a stock company. and so that stock traded alongside bitcoin, and you had long island company to a chain company, so some of the same exuberance. >> i am old enough to remember the internet bubble, but there are certain parts of it that you

smell it back in 98 or 99 to the dot-com valuation, and your earnings tripled. so some of these are okay, but you have to be careful, right kate rooney.com? >> that is right. you saw the institutional interests, and you didn't see that exuberance around names like block shane, and it was only a matter of time before you one level of selling when it hit to 40,000, and so it is signs of taking money off of the table. so there are resurgence and bubble-like characteristics, and bill miller last week saying that it is going to be volatile the next couple of weeks. >> yes, it could be a day in

which block chain rooney, thank you very much. take care. okay. jeffrey out with the best ideas of 2021. they are saying good-bye amazon, and now, with all of the new regulatory fears, and the government rolling out the revamped loans, and eliminating minority-owned business, u but it is too little too late. we will look at that coming up. to defend against dark forces attacking your organization,

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welcome or welcome back to the "exchange" and we hope you are having a good monday wherever you are. twitter is not as it suspends president trump's account, and there are concerns about the future of social media regulation, and the future of some of the platforms itself. as they try to take strong action suspect iing suspension the account.

and we have a look at who has done what or who has not done anything. deidre. >> well, brian, it started with facebook and twitter and then a dozen tech companies faced restrictions is or down right baring the platforms or the servers, and it including switch, and it is one thing to switch users, but it is another to block, and that is what has happened on parler and consecutive now. we chew out off the clouds, and computer power. the crowd is upset and they are

going to move to parler, and apple, and google refuse to take parler on their responability for their cares. they will not sell merchandise, and the site cut off the preside president's campaigning source, and that is what you could argue is one of the biggest moves. over the last few days, this coordinated movement, and this to purge misleading content, and as the move is arbitrary and monanopolis tick. >> we will follow up on this story, and it is a big one. deirdre. and in regard to social media, and maybe we should call them

media these days, and jeffreys is not scared of any potential regulation on the hill, and one of its big companies is facebook. and facebook replaces amazon as the best idea of the year, and joining us is brent phil, the lead tech analyst at jeffries brent, and we have seen facebook shrug off assault from a variety of things, but it does feel different and it does not feel like you believe it is. could facebook get to define anything >> thank you for having me. facebook has 200 small businesses on the platform so there is a huge divergence of the people who are using it for free, and those who can pay. when you are looking at the small businesses be found, it is

a material opportunity to let these communities thrive. while there is a lot of good that is happening, right, out of this whole ability to shift to commerce, and we are seeing what we believe is $15 of earnings power a couple of years ago, and if you put the 25 multiple out, you are getting the $375 price per share, and with the stock where it is, we believe there is upside. nobody believed last year that covid amazon would be the top pick, and we like the position, and negativity and works with it, and regulatory does not scare us away having covered amazon at $30, we told the eu overhang obviously didn't mean anything, and the stock had a huge move.

>> but your job is to analyze the risk and i don't want to get too in the weeds, but to analyze this, and they say that you have to look at the standards and so if congress were to classify facebook and twitter and others as publishers, what would happen to the valuations and the price prices >> i think that right now a lot of trust is given back to the social media as they are blocking a lot of it, and my trust level of going to twitter and other platforms improves. so ultimately what is happening is that the regulators are trying to help us as consumers and provide innova to both sides. they are grown up, and again, through all of the regulatory pain, we have seen new highs across all tech. so i have said it repeatedly,

and regulatory overhang is the big question that we get, and we said in the playbook, if there is a break up, you as an investor make more money, so you are hoping that i am wrong, but i ultimately believe that we will find a middle ground with the browser and the core fundamental. and facebook is not the only story, and we like amazon and google, and a small company, and so there are many groups to own, and we have plenty of names we can talk about. >> there is concern of regulatory of all of this content out there. and when we have you back on, it

is going to be the year of love post covid, and we will talk about that. >> okay. thank you. and now, beaten down, and the favorite name in the oil space, and they see 25% upside from here, and who is that history chart? we will find out. so if you are getting back out there, watch us on the go, or maybe sitting in another room of your house. "the exchange" will be right back. we've been online for more than 25 years and have helped thousands of students reach their goals. as a nonprofit university, we believe access to high quality education should be available to everyone. that's why we offer some of the lowest tuition rates in the nation, and haven't raised tuition in nearly a decade. so no matter where you want to go, snhu can help you get there. visit snhu.edu today. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed

you get a shortlist of quality candidates from a resume data base. claim your seventy-five-dollar credit when you post your first job at indeed.com/groomer but before we sign i gotta ask... sure, anything. we searched you online and maybe you can explain this? i can't believe that garbage is still coming in. that is so false! frustrated with your online search results? call reputation defender today to join tens of thousands who've improved their online reputation. get your free reputation report card at reputationdefender.com or call 1-877-866-8555. my retirement plan with voya even after paying for this. love you, sweetheart. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. come on, grandpa! later. got grandpa things to do.

aw, grandpas are the best! well planned. well invested. well protected. voya. be confident to and through retirement. all right. welcome back to "the exchange. and shares of exxonmobil is rising today. and this is a $57 per share on it, and another $10 on it, and called it the favorite company in the integrated space, and morgan stanley says they are poised to reverse several years of underperformance and big gains and not just in the rising share prices, but also with the

dividend which is a couple of months ago, wildly in jeopardy. the recent cost cuts should lower the dividend, and for more on the morgan stanley call, you can go to cnbc.com/pro. so now, there are new measures in place to aide the widespread fraud from the first rounds, and the underserved minority companies have their proper access to the funds. kate rogers is up next with that.

welcome back well, the government is launches the third round of the paycheck protection program today kate joins us now with a look at how the roll-out is going so far. kate >> hi, brian, the $284 billion ppp reopened is a, and community lenders were supposed to start first, and then on wednesday for second-draw borrowers. some lenders have been clamoring

things may not be ready to today. the bangers associate ask sba to delay the lawns. in the last hour, for cdfis, to try to answer any last-minute questions, you so how the next few days gotten remains to be seen he revamped program is the there are carveouts for businesses under ten employees, very quickly, capital more easily given the long-established bank relationships. and get that to put in play for compliance with the program last year the trump administration touted borrowers

accessing loans as soon as the same day, which turned out to be not necessarily true brian, back over to you. kate rogers, thank you very much the next run -- overloon are looked in the previous rounds of aid, but a quarter and they are indeed matching up big owners to the ppp. brought the function conditions, owned for generations, is it too late >> well, certainly it's a

concern that congress took song playing politics we hope it's not too little too late. we are in the dark winter, and business owner having trying to hang on for months andr and we're just grateful this finally has passed, and help keep the doors open what are the steps when do you think they will actually receive the money >> yeah, so today is day one we work with over 300 lenders in our network.

to find the lenders, and route those small business owners to those lenders to help them get into their hands as quickly as possible we're starting with some of the underserved businesses, and we're thrilled about that change it will likely take, for them to complete their application, get final approve and capital into their hands, our guess is it's probably 7 to 10 days from start to finish. >> how do we priority i'd minority owned businesses, underserved communities, like we need to priority ice those that missed out particular ly.

>> how do we make sure they do not get missed again we all saw that, getting large loan sizes, while the smallest of small businesses were de-prioritized and back at the line in this round, we advocated significantly with congress that they make changes, and number one, priorizing them first in line this week i think was a big step they have -- less than 50,000. before, many lenders couldn't profitably serve that small segment.

we don't expect the money to run out as quickly as it did last time , so hopefully even of those can get the capital they need. that wraps it up for "the exchange" on a monday. up next on "power lunch," the so-called dean of valuation will weigh in on whether there's a potential bubble brewing we talked about it earlier, sort of misconception of names, and we're going to leave you with this elon musk talking about buy signal or use signal, talking about the messaging app, look at shares of signal advance, sigl this is not the messaging company. it's a 30-year-old process control technology company based

in texas, but the stock is soaring, because people thought it was the elon musk it's the 30-year-old company see you tomorrow "power lunch" willav he more on this right after the break, take care