there were two trading halts earlier today. of course the week -- the one week chart really tells you the story. down 82% the story doesn't seem to be over, ty >> yeah. it's -- we talked about it earlier. this was kind of a crowd sourced short squeeze there. we will see what the ultimate damage or wealth creation is that will be it for "power lunch" for a week. thanks for watching. great to be with you seema "closing bell" is up now thank you tyler and seema. welcome, everyone. to "closing bell." i'm sara eisen here with wilfred frost. stocks in the green again. what a rally we have seen this week stocks up every day, on track for their best week since november let's look at what's driving the action one hour left of trade an underwell ing jobs report. the labor department showing the picture looks welcome back weak. democrats moving forward in congress with a large stimulus

bill covid numbers and a vaccine moving in the right direction. corporate earnings a bullish driver, from snap to acti vision to estee lauder. all four indices set for record closes we saw it yesterday, too 59 men's left in the trading day. >> a week where we stand 4.6% higher on the s&p. coming up on today's show, senator mark warner, proposing big changes to the section 230 liability rules. he will join to us break it down plus, hopeful news on the coronavirus front as daily cases continue to fall and johnson & johnson applies for emergency use authorization for its vaccine. dr. scott gottlieb will join us for what all of these developments mean. columbia sports wear getting a pop on the back of earnings. the ceo will join us to talk results, and the state of retail, up 17%. let's get straight to the

markets. stocks look to close out a very strong week on a high note, up .3% today, 4.6% for the week. mike, over to you. >> wilf, you have to be impressed. 3% lost last week. popped right back up feeding off of the 2020 stay-at-home powerful tech earnings stream as well as anticipation of an acceleration in the economy a lot is working here. this is a two year chart we are right back on that track. in fact bobbing up against this path right here. that's something to note every time we have gotten up there it tends to slow down even if it hugs the line for a while. also early 2020 i was remarking on that, we did get that late january, early february dip. surged to new high, then of course fell apart later in february because obviously of covid. take a look at handful of growth stocks that were great performers especially in the first two thirds of last year.

i wanted to document docu-sign, square, and shopify, up and come growth stocks that have been consolidating for months i think you would will be at it and say that's bullish they have not lost most of their gains. they have well outperformed the nasdaq 100 and they will be poised for another leg up. even while everybody seems poised for the cyclical trade these hung inthere look at this a five year chart of the s&p 500 against the vanguard long term bond index it looks steep, color to that 2018, 2017 line. i wouldn't be surprised if maybe we get some slippage in this relationship before too long guys >> wanted to take a moment, mike, with you on the jobs report it was disappointing today half the jobs added than expected the gains were really only

created in government jobs and temporary help it mean, it shows a real picture of weakness still. we have only gained back a little more than half the jobs we lost in february and the market continues the look past it. >> yeah. >> how much longer can investors do that? >> look, it was a january number i think you can look inside the data and say there are signs of scarring in terms of how many permanent layoffs. that actually ticked higher. that's not good news it supports the idea that he would probably want or need another push of fiscal support on the other hand, 6% unemployment rate was not strictly people looking for work if we could look back to last april people thought we would be at 8% or 9% at the end of 2020 for now, i think we are still giving it a pass for the moment. >> mike, thanks. meantime check out this major turn higher for snap

the stock rallying today following yesterday's earnings beat it initially fell on those results and then the ceo was on "squawk alley" talking about the rollout of spotlight a feature that has been seen as a tiktok competitor. >> we have only launched spotlight into a couple select markets. it has gotten great traction with 100,000 people using it in january. we have been able to slowly roll it out to manage the growth and content volumes and moderation practices. we are making sure there is human review of any consent that's getting wide distribution that stream is working we will continue to roll out to new markets as soon as we can. joining us, an analyst who has a hold rating on snap. what drove in intraday turn around, massive turn around? >> i think they grew revenue having toly in the fourth quarter, up 62%.

and they grew eps, up 55%. their year over year subscriber adds were at 22% the average revenue for each of the arpus went up. strong fundamental earnings momentum coming out of 4q. the stock originally was down because evans said they had a couple weak advertising weeks in january and he was worried about idfa, an apple privacy setting that companies into effect later in the first quarter that negativity affects so stocks that aren't being hurt by this, which i think is why you have seen snap's turn and rally. >> are snap as exposed to potential more regulation in section 230 and others as the likes of facebook or not >> definitely not because snap only -- you have to actually b hand add one person at a time. it is very much your best friends, which is why they only

have 260 million users every single day versus facebook's at 2.2 billion. so that's all about only your close friends. basically, the privacy settings are perfect for the regulators on snap. >> laura, i wanted to ask you about some of your very hot stock picks that you have had over the last few months fubo tv, trade desk. those have been really really strong calls stocks that went straight up mag night. are all of these swept up do you think in the retail trading frenzy and the unusual activity we have seen >> let's talk about trade desk, mag night, and fubo, which were the ones we were talking about last time i was here volatility in those. but they are up nicely since the last time i was on, as promised. i would say this, streaming and connected tv growth, very strong coming out of the fourth quarter. and i think next year is going to be probably 40% growth in connected tv as linear tv

advertise remembers looking to follow the audience to streaming because the streaming audience almost doubled during covid. now advertise remembers really looking to reach those people and those hours of viewing i think all of these connected tvs, fubo and trade desk and mag night all participate in connected tv advertising >> let's get on to peloton as well, they reported last night clearly there is a lot of delivery delay, some of them, some if not. do you think they have learned from those errors, if they were errors in the first place? >> that's the best point they have disrupted an industry and never run a public company before i think they made a mistake which was in a time when they couldn't meet demand they introduced a second bike and created longer service times and elongated service deliveries two months ago they were going to introduce a lower priced tread. it looked like they were going

to make the same mistake again but, no, they used the uk as their test market. demand is through the roof now they are not going to launch the u.s. as fast they are going the use the u.s. inventory and meet demand in canada and the uk which is higher than expected and then they will push off the launch in america. which is great because that forces americans to buy $4500 treads as opposed to $2500 treads all good with the shareholder view. >> we will zoo a lightning round with you, a la cramer. we talked about the hits you have had what about the miss on netflix are you still not a buyer even though we continue the see momentum and strong earnings as evidenced by the last quarter? >> i am. i have been wrong on netflix but i want to stand my ground because i believe what happens next in the streaming world is that the big conglomerate deep library competitors add sports,

add news and they make the offering not only 55,000 hours of general entertainment library like netflix has but they have things like sports or olympics for the ncaa that drive fewers to their streaming services and they have keeper pockets because they have sister subsidiaries that can fund losses and yeng i don't think netflix can compete with u.s. those. >> laura martin, always good the check in with you. thank you. >> thank you. after the break, senator mark warner says the controversial section 230 rules provide a get out of jail free card for big tech. he will join us next to discuss his brand-new bill aimed at reform you are watching "closing bell" on cnbc. dow is up another 57 points. ♪♪

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46 minutes left of trading s&p set for another record close. as the latest stimulus proposal makes its way through congress, the biden administration is going to have to make some tough choices about its next

legislative priority and it could have a big impact on jobs. kayla tausche with the story >> sara, the administration has just two shots this year to use the reconciliation process to pass its agenda with just a simple majority. democrats are already paving the foogt do that for the american rescue plan if they can't get ten republican votes so what is going to be the legislative priority for that next option? well, despite top democrats spending much of last year on the campaign trail talking about health care being first up, it appears to be infrastructure just look at the number of jobs that would be created here these are exclusive numbers crunched for us by moody's mark zandi. health care, he says, according to biden's campaign plan, would create 2.6 million jobs at about $57,000 a piece. infrastructure, by comparison, more bang for the government's buck more than 11 million at a cost

of $51,000 a piece jared bernstein told me that perhaps and probably he doesn't think if they pursue infrastructure they would have to exhaust that last chance. >> when we are talking about infrastructure, clean energy, child care, many of the elements of the building back agenda, it is not at all obvious to me that in a has to go the route of reconciliation f. we are accutalking about infrastructure, it is actually pretty obvious the me we probably won't. >> we will see if that's the plan bernstein says the plan is already in the works and expects the recovery portion plan to come out sometime this month. sticking with washington, democratic senators today announcing the safe tech act to reform section 230 with the goal of holding social media companies accountable for enabling quote cyber stalking, targeted harassment and

discrimination on their platforms. joining us, one of the authors of the bill, senator mark warner thank you for joining us. >> thanks for having me. >> give us the headline on this, what does it same to achieve what does it not go as far as doing. >> what we wanted to try to draw was a carefully tailored reform of section 230 that didn't go at the underlying debate about speech we have seen these platforms change dramatically since the late '90s when section 230 was put in place it in many way is a way to encourage moderation it's obviously achieved the opposite we wanted to make sure that things were were foreseeably and repeatedly happening on these platforms that is illegal is pointed out. let me go briefly through this we made very clear that tex 230 protections do not apply to paid advertising. if a company, if facebook is

making money off of fraudulent advertisingist should not receive section 230 protections. we want to make sure 230 did not include injunctive relief. if you have been harassed so often from one of these platforms and you are able to get injunctive relief, section 230 should not preclude it like it did in the so-called famous grinder case and we wanted to make sure that the alien torte act so that if someone -- a rohingya could show alien torte act violations, they would be able to recover. it does not basically say let's get rid of section 230 entirely and call all of these platforms broadcasters the way cnbc is. >> senator, i am most fat

nated -- it is all very interesting. most fascinated in the first part of what you outlined. does this mean that a social media company would be classified essentially as a publisher when it comes to a post they are being paid to push more aggressively? >> we are saying that an individual's post -- you can still say stupid things under the first amendment right. butter with seeing that stupid thing, protection, does not apply to paid advertising. so if that paid advertising violates a civil rights law or is otherwise blatant disinformation, that section 230 protections do not apply to that paid advertising we also say that if someone on an individual basis is the subject of so much harassment that you can go out and get injinktive rely it should not be

prohibited by section 230. section 230 has basically become a get out of jail free card for these platforms. that was not its original intent and we think it is time to reverse that. >> just to clarify one step further, senator warner, that applies therefore if facebook for example, were being paid directly to promote a post. >> yes. >> however, it doesn't apply if i make a stupid comment on my facebook page and facebook is showing commercials in and around alongside that like many website do on every i think single day posts >> absolutely. this is where we were trying to not get into the speech -- first amendment speech debate, and there will be people who will try to go further. we were trying to work particularly with the civil rights community because the civil rights community two to three years ago was very reluctant to reform section 230. they have now seen the level of abuse that takes place on some

of these sites that advances for example, racist, white supremacist views f. that action violates civil rights laws they cannot use section 230 as protection we have gone one on civil rights approach, one on the injunctive relief there are a variety of progs in this legislation. >> president biden himself is on the record making his position clear on this that he wants the see a repeal of section 230. this is just a reform. could it even get his signature? have you had conversations with the white house about this >> we have had opening conversations with the white house. i think there is a reason why section 230 has not been reformed, why the platform companies have not had frankly any meaningful legislationtake place. they are some of the most powerful companies in the world. while they sometimes say they would be supportive of reform

when it comes to section 230 which has been i think abused which has been carried to an extreme that was never intended when it was created in the late '90s when she was arguably dumb pipes in terms of transmitting information, that's no longer the case there may be others, maybe president biden wants to go further. we think we have hit a sweet spot where we can gain support of civil rights activists, gain support of people who have been thoughtful on this issue recognizing that paid advertising should not have the same level of protection as individuals posting on a facebook site. we think we have hit that middle but we are willing to -- part of the sausage-making process now starts >> well, the other question is can you gain republican support? because as i understand it, it would have to be bipartisan. and it sounds like the democrats and republicans agree something needs to be done but it sounds like not at all do you agree on

what needs to be done. and conservatives and republicans have very different problems with social media like limiting speech. i think they wanted it to go the other way. this doesn't meet the rules for reconciliation you are going to need bipartisan support. >> this is only going to happen if it is bipartisan. we think -- i have started conversations with some of my republican friends we think the fact that it is narrowly drawn, that we are taking on actions that we've seen repeated that are foreseeable, that in many contexts within existing law already are illegal. but i think section 230's protections have crept in inappropriately, i think we will have strong bipartisan support on this. there are some on the republican side who think the platforms are biased, you know, against conservatives. but the truth is the platforms are biased towards getting more eyeballs, more eyeballs usually mean to promost extremist

propaganda, extremist posts on either end of the political strings. i don't think they have a bias one way or another, the bias is toward making money and that can sometimes lead to the extremist propaganda that led to the development of qanon and the actions that took place on january 6th. >> you know the debate is going the move on to other small platforms and small businesses, not just facebook. the question is going to be, facebook can navigate the big, complex regulatory burden. what happens to the smaller companies if a bill like yours goes through >> again, this is not targeted at facebook. we looked at challenges around youtube. we have looked at obviously twitter. there are i think some of the concerns on some of these new platforms like parler.

we didn't carve out rules for start-up platforms that could be negotiated we took a long time going through this because we didn't want the foul traditional first amendment concerns i think we can find bipartisan support. advertising shouldn't have the same level of protection as individual posts trying to make sure that you can obtain an injunctive relief because you are harassed or cyber bullied so much shouldn't be prevented by section 230. making sure if you are violating civil rights laws, section 230 should not be used as an excuse for violating those rights >> final question. i wanted to pivot to the topic of stimulus. i am sure you have been following and seeing the craziness in markets of late

i wondered what your view was as to whether stimulus checks should be used as it seems they have been in some circles to buy stocks and go into the stock market or is the stimulus checks aimed at the people that really need to spend it today to get by as opposed to people who maybe have the capability to save and invest it for the long term? >> first of all, i think if you look at the data recently, the spike in online retail purchasing, particularly on clothing, the spike in day trading, and the spike in sports betting as the stimulus checks come out is a pretty interesting correlation. one of the reasons why i have been a big advocate that we ought to narrow these stimulus checks really to those most in need and a family of four or five may still be getting checks

even though they haven't suffered any economic loss doesn't make sense to me i would redirect those dollars toward broadband so we can get the 97% penetration in america that i think is possible if we make a significant broadband investment i have been encouraging the white house to move up that broadband investment because it is directly tied to covid. because we have seen the necessity of having broadband play out during covid. it will loss have a long term system lative affect let's get it there are areas in the state and local government area where investments in broadband could be money better spent. >> thank you for joining us. we have 34 minutes left in the session. up 4.6% on the s&p 500 the russel leads the charge today, up over 1%. up next, everything about

this year's super bowl will look different due to the pandemic including betting on the big game we will look at the wager winners and losers next. as we head to break here's a look at the top tickers today searched for on cnbc.com yet again, game stop topping the list apple, amc the ten-year and ford. the ten-year searched for as much as game stop. a sign of the polarizing times a back in a couple of minutes.

the pandemic changing just about every aspect this year's super bowl, including how people bet on the big game. contessa brewer joins with us the latest >> well, take a look at this here, wilf parking lot outside is full. inside the fan duel sports back feels different in this era of social distancing. more than 23 million americans plan to bet a total of $4.3 billion between the matchup between the chiefs and the bucs. according to the american gaming association that's down 34% even though sports betting is now legal in seven states more than last year. you can blame the pandemic fewer office pools, and all of those boxes being passed around. the capacity restrictions at sports book comes into play here but online and mobile bets on the game are up 63% in part because more states now allow it fan duel tells us the action is

lopsided for the chiefs. as 3-point favorites they have heavy money on mahomes and orange gator aid is the favorite that's the news from new jersey at the sports book sara >> very cool that you got an inside peek, contessa brewer thank you. >> time for a cnbc news update with sue herera hi, sue. >> hello good to see you. here's what's happening at this hour, everyone bail has been set for andre coy the police officer charged with the killing of mr. hill, a plaque man who was unarmed and standing in his own garage. cleared to convene a war times probe. israel has said the court has no jurisdiction.

nearly two out of three republicans say joe biden was not legitimately elected president. that's according to a poll by the "associated press. overall, roughly two thirds of those questioned say biden won the next actor christopher plummer has died known for roles as varied as captain von trappp in the sound of music to the movie beginners -- that role earned him an oscar and at age 82 made him the oldest actor to win an academy award. christopher plummer was 91 years old. you are up to date sara, i'll send it back to you. >> sue, thank you. still to come on the show, medical device company becton sickinson reporting strong results helped by its covid diagnostics unit. and later, dr. scott gottlieb with join us to talk

about the latest virus trends in the u.s. and how quickly j&j's vaccine will be approved. a look at bonds. yields higher to end the week. ten-year 171%. there has been a yield steepening it has helped financials climb they are on top of the sector performance. every ct, ouseorthgh, higher for the week we'll be right back. for skin that never holds you back don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin

gold bond straight ahead, medical technology company becton dickinson reporting a 309% surge in first quarter profit due to demand for its covid-19 test we will talk with the company's ceo in an exclusive interview. that's next here on "closing bell." do i hear 7? $7 in the front! $7 going once. going twice. sold to the onion lover in the front row! next up is lot number 17, a spinach and artichoke dip, beautifully set in a hollowed-out loaf of sourdough bread. don't get mad

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final half hour of trade becton dickinson out with strong earnings this week request 1 revenue growing 26% much of it grow coming from covid-19 diagnostic product. despite being lower today, the stock is up 26% from the march lows joining us now by phone for more is becton dickinson's president and ceo tom polen. my question is on the second-half outlook.

what you are telling investors obviously, the past quarter was a good time to be selling covid-19 tests what happens once we get more vaccines into people's arms to demand for testing. >> as you mentioned we strong performance on revenue and earnings in this first quarter it reflects not only strong diagnostic revenue but i think even more exciting for us is strong performance of the base business which was up nicely against the backdrop of covid resurgences around the world to your question of what happens in terms of testing as we think about going forward, what you have seen to date is really testing happening a lot in kind the usual locations you may expect, hospitals, urge encare centers, pharmacies, pop-up locations but mostly led by traditional health care system providers. what i think will probably be the next big push as we go into the back half of the year and hopefully as we see the continued rollout of vaccines

and hopeful ain continuation of them being very effective with the requires virus is a big push in kind of the return to normal testing in more non-traditional health care settings places like schools, businesses, airports, that are helping enable more of a return to a normal way of life >> my question on that, tom s how much do your tests cost for people i, too, could see, you know, in massive office buildings in manhattan for instance where you have thousands of people a vaccine or a test. but we talk about a saliva no prescription test that just got approved -- it is $30 a test how expensive are your tests and how practical does it make them to use them in large buildings and schools? >> quite a bit less than that test we make over 40 billion devices a year as a company. we can talk about that later but we are very good at manufacturing. we are very good at

manufacturing things efficiently. as we have been scaling up our production for covid diagnostic tests and we have made tens of millions of those already we have actually recently reduced our pricing by about 25% on those tests into the low to mid teens per test to really do exactly what you mentioned, which is ensure access to the testing particularly in light of the new variants that are emerging and spreading we want to be part of helping to stop that through testing. >> as for when demand for testing tails off do you think it will be adequately made up for by demand for some of your other products do you think there will be a massive catch up of other sorts of hospital procedures >> for us, we have been doing a few things just as you think about the company we are props one of the most relevant and broad companies related to the covid-19 response. we are involved on the diagnostic side making rapid and rapid care tests

but 90% of anyone who ends up in an icu is treated with one of our devices, that could be an infusion pump or a syringe or another one of our products used to collect blood, et cetera. we have a role in helping them then we have a major role -- we are making over a billion individual injection devices specifically for the covid vaccine that will continue to roll out another thing is taking the strong performance that you saw us start the year off with we are reinvesting a good portion of that into driving incremental innovation that's something we have begun we have created a growth and innovation fund across the country. we have initiated a number of innovation programs that will help fuel future growth and people have been extremely energized. for us as a health care company the way we fulfill our purpose is bringing new innovations that

help more patients we are doubling down on that even in the middle of the pandemic. >> tom, one final one or testing from me. you mentioned the various mutations that we are all watching and scared of how with the tests performing against those mowtations are they as effective? or do they need to change. great question for our assay the 15 minute test, we target a different protein than the spike protein the spike protein is what has been changing in the variants. we have been evaluating that and haven't identified any impact of the variants on our test results at this time. coming up, ford ceo points to cracks in spacs those stories and many more when we take you inside the "market zone" next

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for online u.s. listed stocks. don't get mad. get e*trade and start trading today. 12 minutes left in the trading day. to go in the trading day, we are now in the "closing bell" "market zone." commercial-free coverage of all the action going into the close. cnbc senior markets commentator, mike santoli, is here to break down these crucial moments of the trading day. and today we have nancy tensionler with us as well good afternoon, nancy. kicking things off with the major markets. stocks rallying, with their best weekly performance since november mike, snapshoting the week to date performance, what stands out to me is that energy is top. then communication services. then banks then consumer discretionary. >> yeah. >> it is not really an either/or this week.

it is pretty broad, pretty big in terms of the gains? >> right it reflects the position the market is in multiple things to draw upon they support itself. we are in this period where the profits have been overwhelmingly good relative to estimates and it was a reminder that growth and tech companies had an amazing 2020 at the same time, everyone is willing to bet with bond yields going up and fiscal stimulus we are going to accelerate in the real economy it seems all thing are working the only question is do we get to one these short-term overshoots again before very long it is an impressive performance this week for the market but wonder how much you can j project out from here. >> 4.6% for the s&p, nancy bm 6% higher for the nasdaq this week this is looking like a melt-up are you buying are you buying on the way? are you feeling the bullish enthusiasm >> we are still expecting a correction one of these days we have been a little bit early

on that, but, yes, actually would did some buys yesterday. but in the portfolio what we are doing is we are taking gains in one spot and putting money to work in new spots. so we added costco re co recent- it was in the portfolio years ago and then we added it back in recently i think the interesting thing is that the breadth is impressive 91% of s&p stocks trading above their 200 day moving average very different from the bubble we saw in '99-2,000 where it was closer to 30% and the market was higher on peak earnings versus trough earnings which we are coming out of now and the multiples were significantly lower on the s&p, 22% there is 27 we still find places to buy and find reasons to be bullish for the medium and long term but we do think we need a recalibration a pullback, whatever you want to call it. >> let's hit ford.

a lot of individual movers ford shares are higher after they beat estimates. >> look at this chart. ford over the last three years why are we showing this to you they traded at a three-year high today after the company reported better than expected results for the fourth quarter what really moved the stock after-hours and earlier today is what they said abouttheir ev plan they said they are going to be doubling their original investment that means they are going to be spending an additional $15 billion through 2025 including building a new f-150 plant in dearborn, michigan. here's the ceo talking with us earlier today? we are not going cede the future to anyone. our electric strategy is specific we are going to place it where we have scale. the f-150. the transit van, our mustang. >> ford shares are up about 75%

since jim farley took over compare ford to general motors and then to tesla. you still see that tesla is the preferred choice for investors right now. at least in terms of what investors are thinking about the ev future. general motors reports next week expect the big focus during the analyst call will be on their plans for electric vehicles. back to you. >> phil lebeau, thank you. nancy, the ev plans by the old school automakers like gm and ford breathing new life into these stocks are you a buyer? >> well, we missed it, sara. we tend not to be owners of the auto space just because of the cyclicality and their lack of loyalty to the dividend. but i bought a ford f-150 and i will trade it up for an electric version as soon as it is available. we own a lot of the chip stocks instead that are feeding into the space. it has been a great trade. as you know, we owned tesla,

sold it way early. we are on the sidelines in the auto space. >> mike, is it a zero sum gain when you look at the traditional autos starting to get a benefit because of their ev plays and tesla, will we see tesla pulling back >> i think at this point the way the market is treating it is that ford and gm are simply getting ahead of the potential market share loss they might otherwise have in the internal combustion energy. in other words they are going to disrupt themselves as opposed to having to go after whatever is ahead of tesla consider the market breakdowns it seems as if the traditional automakers have unchallenges valuations especially at a time when people are buying in decent numbers the existing run of

models the astonishing figures there. a team of spacs are coming under scrutiny leslie picker has the details. >> we hadn't heard from pauley happen tia since that report from hin denburg research was first disclosed yesterday morning. but now a response he says that yesterday's report was rife with personal attacks, anyone facts, and bluster that has been rebuked by the company. he goes on to say that while i may have my own views on short sellers, i do believe they should remain part of the capital markets and recognize the prospective that in some cases they can identify real anomalies. that is not the case here. he guess on to say he will let clover's long term goals and performance speak for themselves going forward. but certainly, the latest bit of news here in what's been just

dueling arguments on both sides of the aisle on one hand you have got this hindenburg research which yesterday put out a report calling clover a broken business facing an active undisclosed d.o.j. investigation, and the research itself questioned call happen tia's due diligence in that report. now clover responded this morgue by saying the d.o.j. made a request for information but its counsel did not deem that to be material, and therefore not in need of disclosing clover declined 12% yesterday. trading lower today, though now is up 4% potentially on the recent tweet by palihapitiya open door announcing an upsized followan stock offering and a wall street column this morning

questioned some of its accounting practices. >> what was the reaction over the last day and a half before we got the tweet we just shaw? were people siding with him already on these forums or were they starting to doubt his credibility for the first time in a meaningful way? >> people are very big fans of palihapitiya on the forums i haven't seen much dialogue on this stock in the forums in recent days but there is definitely a fan base for chamath on reddit among the people who comment on the wall street bets. >> mike, i wonder if this criticism and spotlight on due diligence puts a little bit of a dent in the spac mania i don't want to call it a bubble, but if it is, starts to

poke holes in it >> 350 of these have come out in the last year. the way the deals are consummated and brought out the to the world is completely from the company's opinion of view. there is an investor deck that's put out there. it is not the same as going out on a road show with ipo and all the things involved will be the. i think there is an afterthe fact scrutiny that has to happen or is happening to some of the companies just to see if you were promised more than there really is when the deal is done. let's hit canopy growth. share under pressure after being downgraded by piper sandler. frank? >> canopy down 2.5% right now following the downgrade from pipe e the company saying the fundamentals just do not support current valuations piper adds, canopy entering the u.s. market is already priced into that stock and based often their forecast u.s. legalization could be two to four years away.

certainly a depart you are from the current investor sentiment cannabis stocks had a rally in 2021 on exuberance that legalization will happen soon. u.s. legal sales are kforecast t increase to $21 billion this year. two minutes left of the trading day. we are nicely higher for the session and the week mike, you have been looking at the internals. >> they have been in tune with the higher market. moderately positive in terms of ups versus down stacks on the new york stock exchange. about two to one not overwhelming but it has been each day very consistently more up stocks than down stocks. cumulative breadth is supporting the message of the overall rally. not giving any kind of divergent signal look at the u.s. dollar index. a quiet story this week. it was up every day except for today this week. has come off strongly off that

january low. today may be was a giveback when you had the weaker jobs report positioning was short against the dollar out there then the volatility index also confirming the message of the rally, down at 21. this is basically as low as it has been since the covid crash november it was also down here cracking below 20 would probably also be viewed as a positive tactical signal. under one minute to go stocks are adding to their gains for the week remarkable we have been up every single day this week. last week was the wos week in stocks since okay. there is the dow up 92. a tick higher into the close it is the only one of the four that does not look set to close at a record high s&p 500 is looking at its seventh record close so far this year, only early february.

fifth day in a row of gains. nearly every sector is higher right now. the exception is technology. but for the week as a whole, every sector is set to close higher on the week big winners include energy and financials there is the bell. nasdaq nasdaq also at a record high, up .6% and a russell 2000 index of small caps, big winner again, up 1.4% closing at its own record high wilfred. >> three record closes once again. massive gains for the week as a whole. welcome toll "closing bell." i'm wilfred frost along with sara eisen, and mike santoli, cnbc senior markets commentator. for the week as a whole, gains up 7.7% for the russel, 6% for the nasdaq 4.6% for the s&p and 379 for the dow. sod, up .4% for the three major indices with the russel up 1.3%. ten of the 11 sectors higher today, led by materials.

all the 11 sectors higher for the week coming up columbia's ceo weighs in on the surge in online sales and ongoing supply chain challenges nancy is still us and gabriella joins the conversation as well mike santoli to you first of all. clearly, big gains for the week as a whole we could also mention yields rising for the week as a whole also something we talked about every day this week, the vix falling considerably this week i guess a bullish sign. >> there was a little bit of a mini panic a week ago. it got up above 35 people had a sense they wanted to hedge to the downside the sense it was overdue hit the trading community. then it bled away because the market itself passed that test of the 3% drop i think it makes you to the point where you have to look at your index card of bull market

sayings. don't fight the fed. don't fight the tape new highs are bullish, not bearish and the market is your friend in terms of the message right now. the only question remains are we paying up front for what we expect to be positive fundamentals and are we positions. i think there is room for them to heat up before you have to worry again. >> gabriella, after a week like this, where do valuations stand? we have gotten good earnings and good outlooks. does it justify the price levels we are seeing? >> we have gotten quite good earnings for the fourth quarter. record percentage of companies beating by record amounts. the beats haven't been rewarded. investors aren't haig paying as close attention to this earnings season as they normally would because it is all about where we are going in the post vaccine

world. things that stood out as bullish signals this week. number one, the upside risk for stimulus the $1.9 trillion package seems feasible and number two, we have seen consensus for vaccines getting pulled forward they were slipping through the third quarter. now they have gotten into the second quarter we think risk-on positioning makes sense here with a cyclical bias. >> gabriella, part of the volt tilt late in the month of january was due to the short squeeze and the game stop retail phenomenon it is overconfident to see the volatility pulling back this week and think that's now the norm for the rest of the year? >> clearly last week had to do with technical factors

and hedge funds degrossed last week the most as they had done since march of 2020. so now he see volatility dropping it is still at 21 times. volatility is still more elevated than it was prepandemic. to me that's a sign that investors are still actually expecting some risks up ahead. we know vaccinations are not going to be a breeze to me, it is actually comforting to see that volatility levels, while they have fallen, they are still elevated >> nancy, i mentioned that every sector finished the week higher. broad based rally as you noted big differences in performance energy as a sector up 8.3% for the week 7% for communication services. financial up 6.5, health care up only half a percent. what positions are you taking in the post vaccine world. >> we are involved in the

reopening trade, clearly, where digitization meets the consumer we are overweight. a broad away of consumer discretionary companies, many of the usual suspects, some additional we added disney to our 12 best ideas portfolio. so we are increasing our exposure to communication services then financials is also an overweight for us. of course you know that we like tech quite a bit messily the cloud pipes and the data aggregation and cyber security aspects of tech so we are less involved -- we are market weight the energy trade. but we are less involved in materials and chemicals and increasing our exposure to technology, consumer discretionary, financials, and industrials. >> mike, why didn't the market get spooked by 1.17% on the ten-year this week >> just not high enough to really change the equation very

much credit spreads are tame. the cost of corporate credit is not rising to challenging levels i think it fits the posture of people who fell like that's a reflationary story you are still talking about negative real yields even with the ten-year at 1.17 all those things put together says we think it is fine, plus you get the tail wind for the cyclicals and financials >> the other question is why yields rose at all on a day when we got disappointing jobs. but i guess you could say it makes the case for biden's $2 trillion stimulus. robinhood customer service complaints soaring during the game stop frenzy. >> the federal trade commission saw a surge in complaints about robinhood last week that was of course during the game stop trading saga the agency shared more than 100

reports with cnbc about robinhood. those were between january 24th and february 2nd that was up from just seven complaints in the prior week would we lead through a lot of what the customers had to say and they show widespread frustration with robinhood's customer service some talked about not being able to even leave the app. one said they could deposit but not withdraw another said they wanted their accounts closed. another referred to sending issues in to robinhood, like sending them into the void and not hearing back robinhood responded saying they are committed to improving the support they provide kplurs. they say it is a top priority and hiring of customer service agents tripled last year it highlights the difficulty of keeping up with record growth

and keeping up with customer service. they added 600,000 accounts just last friday. guys, back to you. >> just remind us, kate, what at all does this mean what are they saying about what is supposed to be this multibillion dollar ipo from robinhood. >> if you ask venture capital investors they say this growth is a confused thing and some of the growing pains highlight just that, that they have more customers. and no matter what happens even if they have trading outages like we saw in march some of the restrictions they are able to add more customers i talked to one investor who said that the growth way way outweighed any attribution they see it as a good thing and they all say that the ipo is probably come sooner than you might think based on some of the headlines last week. >> kate rooney, thank for that one. for more on that story on

robinhood, be sure to check it out on cnbc.com. coming back to the broader markets, gabriella, you said you like an exposure to the cyclical names. is that also because of valuation or just because of the exposures that they have >> it is both, wilfred it is valuation. a way the look at this is just the value style versus the growth style still the deepest discount we have had since really the 2000s. the market overall has valuations it also tends to be the kind of companies that are very geared to the surge in economic growth that we expect this year and the surge in earnings growth that we expect to come from the cyclical sectors. i mentioned the value style as a way to increase cyclicality. another way is balance small caps to large caps and a third way is increasing

international exposure international markets are much more exposed to cyclical sectors than the u.s. which is more of a defense market >> i know you saad you were in the cyclical names and groups. what about small caps in particular, which worked well this week and so far in 2021 the theme continues from the end of last year. >> we have clients allocated to small cap but we don't buy small cap securities directly. so we use other people's expertise. but we have been increasing our exposure internationally because we do think global markets, with the resurgence and the pn, m ayes all being expansionary in every economic region except for meks ka japan on the cusp, we focused on the global markets. that's where we have been increasing, as well as

commodities over the last couple of months. >> nancy, gabriella, thank you for joining us >> good to see you >> we appreciate it. up next, the ceo of columbia sports wear on how supply chain and shipping disruptions are impacting that company's bottom line we are back in 90 seconds on "closing bell. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪

sharings of columbia drpts shares of columbia rallying on the heels of reporting forecast 18 to 20% sales growth this year. joining us now, in an exclusive interview columbia ceo tim boyle. >> thank you for having me. >> is that a reflection on the consumer. >> international business was about 40% of our total sales we are considered an american company everywhere we do business and you know, obviously, 60% of our sales are here in the u.s. so people end the to think of us frequently just as a u.s. company but we are quite international. >> i presume the strength is all on line and bricks and mortar is struggling is that something you expect to continue eve post pandemic and reduce your footprint

accordingly? >> you know, we have only a smaller percentage of our total business in our direct to consumer business in brick and mortar we have lots and lots of customers globally who have big operations on brick and mortar we don't expect those are going to evaporate certainly consumers during the pandemic spent lots of time and money on line. but i think there are someplaces in the world where shopping is a true hobby i would point out japan, et cetera we think a mixture of both on line and brick and mortar presence is appropriate. obviously, on line sales, people being comfortable shopping on line, is growing fast, and will probably likely continue to get share. >> tim, overall, the numbers were really strong the stock reflects it. what about china i think they weren't as strong as some of your competitors we

are seeing in that market which is recovering which has stores open and shoppers coming in. what are you seeing in terms of resonance from your brands in china? >> that's right. we only have the columbia brand distributed in china we were clear to investors in our earning call that we have underperformed them. we have a strong business. we have been in china over ten years. the brand is well-known there, but we haven't done as good a job in that market as we should. we are making changes. we are adding to the team that's managing the business. we are increasing our focus on that market. and we will get better, no question about it. the brand -- the market is growing. and chinese consumers like the outdoors they like skiing the government has a big focus on being a big part of olympics coming up there is big

investment going on from that standpoint we feel like our commodities are going to be in the right place we have to do a better job executing. >> overall, tim, how unusual was this year for you? obviously you had a lot of stores close, people are spending more time outside all of these things that come with the pandemic. how would you say net/net it all shook out? what does it mean as you look to this coming year >> when we went through the period of preparation about one year ago, had we thought we were going to come out in this good a shape with the kind of cash balance we had and the kind of robust business that we had in 2020 we frankly would have been shocked. it was -- it was a lot of unknowns not that those unknowns are not continuing there is plenty of risk throughout the pandemic environment. but we feel very strong. you know, we started with a strong balance sheet and we have increased the balance sheet quite significantly.

so we think we are in a great position and you know, the risks exist, but we are going to come out much stronger, i'm sure. >> tim, thank you for joining us to talk about what you are seeing >> thank you >> tim boyle, columbia sports wear. we have a market flash on amazon's truck fleet, moving stock. kourtney reagan with the details. >> look at shares of west port fuel this stock is moving higher here after hours on a report from reuter's that amazon has placed an order for more than 1,000 truck engines that run on compressed natural guess the engines are made by west port fuel and couple ips in a joint venture. you can see shares are higher by 35% of west port fuel after-hours on this report from reuter's according to two sources familiar with the matter back over to you, wilf and sara. >> up 40%.

after-hours trade. kourtney reagan there. up next, mike santoli looks at the market valuation and whether stocks are starting to look expensive a reminder watch or listen to us live or on the go on the cnbc app we are back after this incomparable design makes it beautiful. state of the art technology, makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $359 a month for thirty six months. experience amazing at your lexus dealer.

welcome back let's check it with mike, who is looking at stocks upside potential from here. >> in particular, the value line, immemedian valuation data. they cover 1500 to 2,000 stocks. they have a quantitative method for vaeting them and project a three to five year potential valuation for each stock as you can see, it spikes around it gives really good indications of market bottoms. when this goes higher it means that the forward appreciation potential has gone up mostly because stocks went down you see '09, 2020. at the bottom of this edge, it shows you that basically the forward appreciation considered to be not that great because valuations are high and maybe

growth won't meet it it bumped around here at sometimes in the past decade it is not as if it is a market top indicator but it is showing you the risk-reward is turning against. as i said better for bottoms than tops. 1969 levels, and there was a bear market in 1970. >> two questions the recent trough was when exactly? does it suggest we are back to the tina argument for stocks >> arguably, that is january of 2018 when you had valuations kind of crest for a while and you also had bond yields higher than that was when you got the tax cut and profit growth. all of it encapsulated in the market and the market really do nothing for over a year after that >> mike, thank you mike santoli up next, former fda commissioner dr. scott gottlieb on the risk

of a post super bowl coronavirus surge and the time line with coronavirus vaccine booster shots to deal with new variants. plus we are honoring tom cnbc contributors. here is dewardr ayec mcneil. >> i would like the see the next generation use their power to push washington to pass pos policies that are beneficial to their economic health. they have done a great job on social justice but i would like to see them push washington on the economic justice piece of this. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. ♪

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positive news on the vaccine front. johnson & johnson seeking fda approval for its covid-19 single-dose vaccine. this of course comes after results show the vaccine to be 85% effective as preventing severe disease meantime, preliminary studies show the oxford astrazeneca vaccine to be 75% effective against the uk variant joining us now to talk about all the latest developments is dr. scott gottlieb, former fda commissioner always good to see you on a friday my first question is on the plummeting case numbers, which is obviously welcome news in the u.s. it is happening at a time where

a little less than 10% of the population is vaccinated it is not necessarily that what is the explanation for why cases are falling dramatically right now? >> it is a combination of things if you look at google mobility trends there is a decline in people's mobility. people probably recognizing the severity of the pandemic with withdrawn their activity more wearing of masks. and the fact we have infected 25 to 30% of the population the combination of infecting that many people and vaccinating another 10% there is probably not a lot of overlap between those groups, you have enough population immunity you are getting a reduction in transfer. when you layer in the reduction in mobility that's probably having an effect why people have withdrawn activity it is probably a combination of

things on one level people are seeinga there is a dangerous pandemic and are starting to be cautious. and people are saying, loo, i am going to get vaccinated in a month or two, i should be careful until i get vaccinated, i have made it so far. >> not in that florida public. i don't know if you saw the viral video of all the older ladies checking out. nobody was wearing a mask. could it be that the virus is mutating into a less virulent fatal and contagious disease as we saw with the spanish flu? >> it is possible. probably to the yet. we haven't detected variants that we think are less infectious or less pathogenic. it is true that the mix of viruses circulating right now are different than what were circulating in the fall and spring and we are not very good at detecting the sequence

variations and correlate lating that with data that would show that the virus is changing i think it is explained by behavioral changes when you look at the mobility level, it looks like april people have withdrawn their mobility for a period of time. and the fact that we have infected up words of 30% of the population rt begins to fall when you get to those levels. herd immunity is not binary. it happens gradually as you build up more population-wide immunity, which is what we are doing at this point. >> clearly, doctor, things are looking a bit better but are they looking good enough to start reopening indoor dinin as they are in new york next weekend? >> look, i think we are going to see cities and states gradually

make these decisions there has been a pandemic hardship and the pardon has hurt a slice of the economy more than others restaurant owners. i think we will see improvement heading towards the spring we should continue the see virus levels coming down this mont you can take more risk against that backdrop. you will see infection levels tick up as you do that but i think the overall trajectory is going to be downward the difference is in parts of the country where b 117 the uk variant has become more prevalent. florida in particular, sorch southern california, as well as southern california where 5% of the infections are b 117, it is going to be harder for them to see continued declines in virus levels in those parts of the country. what you are going the see is a plateauing of the declines in those parts of the country you could see a regional effect where certain parts of the country have more persistent infection than other parts

here in new york i think you are look to see decline. a as a result of emma lot of people being vaccinated. a lot of people having been infected hopefully for most of the country the picture is going to continue to improve. >> we know that the vaccine makers like moderna are already working on boosters and the fda is coming up with a plan to get them speedy approval dr. gottlieb, what's the end game here? can you ever see a time, and when is that time, when we don't need vaccines and beasters for covid-19 or is that just with us forever? >> it might be something we do seasonally for a long period of time it is hard the look out ten years. i think certainly for the next several years we will get seasonal boosters for that, and at least heading into this fall the boosters may be reformulated to reflect the new variants. it may be the case -- there is a lot of people suggesting that this virus didn't going to mutate itself endlessly, there

is a subset of things it can to change itself but even if it persists past a year heading into the fall and winter season when this verse wants to circulate you are going to have maximum immunity i think we might be getting boosters in terms the variants, i think we have enough time to formulate new formulations all the companies, including pfizer, the company i am on the board of right how are working on boostest to cover that variant. it is roughly a four to six month time frame, we should have it for the fall when the variants we are talking about are likely to effect us. i don't think they will be problems for the spring and the summer, but they could be problems for the fall. >> doctor, when what is the time

line for when yoij and astrazeneca's vaccine eens might be approved in the u.s.? >> the astrazeneca data as it accumulates is looking more and more promising that vaccine has been put in a lot of people at this point. you have real world evidence i don't know there is a single study that the fda can hang its hat on so if they do file an authorization for emergency use it is going to be an amalgamation of the different trials johnson & johnson put in an application to be authorized they have an advisory committee meeting on february 26th the fda should be in a position to authorize shortly after that meeting. if the data that the fda reviews supports what we have seen from the topline readout that the company provided which i think it should? j&j knows how to manufacture vaccines, at scale this is going to be an important addition to the market. >> i am trying to figure out

what it is going to look like for everyone to go back to work normally, to really crowded office buildings and stores and all that you put out a road map a few months ago with a colleague about how to row open safely in the middle of a pandemic dr. birx mentioned that when she was on the white house coronavirus task force are we going to do that once we get to a certain threshold of vaccinations should workplaces require people to show proof of that? how does that work how are people going to feel comfortable going back to work in any kind of normal environment? >> i think 50 or 60% of the people will be vaccinated by fall and winter. they have to improve h vac systems, improve air quality i think you will have distancing at work, they won't crowd into conference rooms they will be more conscience of

confining people i think what you are going to see is two lanes to work, people who get vaccinated don't have to pass certain measures. maybe people who don't have to undergo daily screening. you can envision two lines into disneyland, one where they can provide proof of vaccination and others that have to be screened in order to get into the park. i think businesses may impose certain conditions on people who don't get vaccinated to make sure they are not bringing a virus into the workplace. >> maybe antigen tests as the becton dickinson ceo told us as well dr. gottlieb thank you for joining us always a pleasure. >> thanks a loot. breaking barriers coming up. deborah martin chase will join

us to discuss increasing diversity in the film and tv industry and the challenges of creating new content during the pandemic sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers

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time for a cnbc news update with sue herera. >> hi wilf good the see you hello, everybody here's what's happening at this hour vice president kamala harris and treasury secretary janet yellen saying businesses that were left out of previous pandemic aid programs will be first in line for the next one that includes many black-owned businesses harris and yellen say support will also expand to include outreach and technical assistance. through next year, microsoft is suspending donations to all lawmakers who voted to object to the certification of joe biden's election as president. the company is also halting donations to state officials and organizations that called for the election results to be overturned. two of the three impeachment petitions against kentucky governor any breshier have been thrown out one more is being considered. in afghanistan, taliban lead remembers telling nbc news they are returning to front-line duty

as the biden administration reviews an agreement to pull u.s. troops from the country by may. you are up to date that's the news update this hour sara, back to you. >> sue, thank. up next, bridging the diversity gap. deborah martin chase, the first african-american female producer to have a deal with a major hollywood studio has her first major product airing this weekend right after super bowl. plus reddit traders ulcod face a reckoning when it comes to taxes we will complain, bee "closing bell" comes right back

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hollywood still has a ways to go in terms of diversity and inclusion. according to ucla's 2020 hollywood diversity report people of color represented only 15% of film directors and 9% of studio heads in 2019 in the tv season they only represented 20 brz of broadcast scripted show producers and 8% of network heads one purn person breaking these bury yersz deborah martin chase, the first african-american female to have a deal at any major stoodio. her latest project, the equalizer, premieres this weekend. after the super bowl

she joins us now great to have you. >> happy to be here. >> first on the new show, what was it like to film during a pandemic >> look, i am sitting here below me is our stages we are at the meadowlands. we created our only bubble a sense. not that we were living here but we were 200 people working here every day it is challenging, though. i mean, we are testing every day. we are chig to wear shields and masks and maintain -- trying to wear shields and masks and maintain six feet from each other while we are doing something very intimate, creating television. but we wanted to get it done not the mention the cost it is really expensive knock on wood, so far we are on episode six and we have been going strong and taking care of each other. >> looking forward to seeing it. on the diversity question, which

we wanted to dive into while we did see some progress with the golden gold nominations, the three female directors that were nominated. the previous record had only been one are you seeing progress in 2021 where people are more aware in your industry both on and off screen. >> absolutely. we still have a long ways to go. as you mentioned earlier we need more decision makers of color, need more people even at the table you know making decisions. but at the end of the day what has changed is the consciousness that, you know, hollywood has finally realized, after years of many of us, you know, beating down the door and saying that diversity is good business, the proof has been in the pudding, you know, with movies like "black panther," and hidden figures and -- harriet, and with the explosion on tv, people realize that diversity pace, it

is not just the right thing to do in many respects the issue that you have right now is a pipeline problem because people are starting to hire directors of color and women and writers -- used to be a writer of color could never get on a white show. now people do want their rooms to be integrated cnbc has a mandate that 40% of their writers' rooms need to be diverse going forward but you don't have enough people because people haven't been given opportunities in the past. so, yes, the attitude has changed. the appetite has changed to give opportunities. and we are seeing -- we are seeing the results of that on camera, on the screen. >> were you very pleased to see the nominations, directly in the director category, for the golden globes this year? >> yes, the mow mad land director, regina king, a dear friend, who has been at the top of her game so long.

yes, absolutely. again, the awards are kind the cake you know, it's the decision that lead to the awards are made much -- you know, all along the way. so it really is about having people at the table making the initial decisions about what television shows are going to be made and what movies are going to be produced that reflect all opinions and colors. that's how you are really going to see lasting change. >> i mean, deservedly, on screen diversity is a huge focus this year you made cinderella back in 1997 with two black female leads, brandy and whitney houston i was excited to see that it is coming to disney+ this year. how different was the environment then, and now? >> the environment -- listen, that aired in 1997 so it was completely different not only was the significance of cinderella that you had brandi

and whitney houston in the lead roles but it was really colorblind casting diverse multiple cultural casting in that movie it was the first time it had been done on television. i think it is what made it special. brandi was cinderella. and paolo montal ban was the prince i am thrilled that disney+ entered it into its. practicing i was knocking on their door a good friend of mine is the president of disney+ i had been getting besieged by people on social media saying where is it? why isn't it there everybody worked hard to clear up rights issues and february 12th it will be on we look forward to that, deb bra, and we look forward to the

equalizer. i didn't see the tv show in the '80s i loved the denzel washington movies what can we expect from our show >> our show is based upon the '80s telephones series denzel -- i love those movies so much but they took a much darker path in telling the story. at its essence the equalizer is about robin mccall, played by queen latifah who is a former cia agent who realized that she really wanted to help people, the everyday people, the people who were falling through the cracks in the system these also a single mom. so in its essence she's like most women who are juggling family and career and sense of duty and obligation with trying to deal with the ultimate 15-year-old daughter so -- and queen latifah is so fabulous in the show i mean, she's kicking butt

she's doing most of her fighting herself. she's also warm. and just all the things that she is as both a woman and as an entertainer she brings to that role it is exciting. >> how different is it for you these days deborah you have been doing it a optionr the tv shows, the streamers and the competition for content. it's not just the big three networks does that change the process for you at all >> you know what it's not so much changed the process, but it certainly opens up the opportunities, my job as a producer is to find material that i think is great and then figure out what is the right platform for it or the right, you know, distribution format. and so all of a sudden, you have, you know, where the studios really have gotten into the business of finding things that will appeal to the most people, you know, you can have a show on a streamer that has a very loyal specific audience and

it can still be a hits, which means you can express different voices and tell different stories about different people and cultures it's really excite it really has made being a producer, it's a great time to be a producer right now. i'm happy i'm still here doing it >> thank you so much for joining us much appreciated thank you. >> thank you so much >> up next, it's been a wild ride for gamestop investors. now the flood of new retail traders are ttg otr geinanhe painful lesson in investing. taxes and all the details when we come back

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gamestop has been on a wild ride amid the retail trading surge and those investors are about to learn another tough trading lesson robert has the story >> accountants getting flooded with business from all these new stock traders who are getting their 2020 tax bill. here are the most common and costly tax surprises gains on stock held less than a year that's as high as 37% rather than the 20% for the top capital

gains rate lots of mistakes made around wash trades. the rule says you got to wait a month for a buy-back those who didn't can't claim the loss lots of traders use multiple brokers but they didn't combine all their statements so their actual tax bills are often higher don't forget to elect mark to market option on your tax form before april 15th. that will allow you to claim more of your trading losses against any income this year back to you. >> i'll take it. good advice, robert. thank you. up next, another big week for earnings on tap. what we're watching from dneisy, uber, and many more names hit the closing well and in an emergency, they need a network that puts them first. that connects them to technology, to each other, and to other agencies.

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looking ahead, another big week for earnings on tap monday numbers from the likes of hasbro, the toy maker, and soft bank, lifetime, twitter and cisco. coca-cola, under armour uber and world. thursday, along with pepsico and craft times for a fresh read on the consumer i'll be watching for all clues

from the consumer on some of those names. but also, mike, just what's happening in washington and how the ball, if at all, moves forward on the $1.9 trillion stimulus, how that's going to flow into the market and the economy. data is in some ways better than expected >> yeah. >> if you look at today's job report, for instance, an economy that could still use stimulus. >> no doubt. it doesn't weaken the case for what the democrats want to do. plus when it all comes together. if you have to wait for this extra fiscal push. seems like the market is very secure in all the recovery forces that are already in play. it almost seems as if investors are treating this as we don't necessarily need a tremendous amount of help, but boy it would be a great little boost once it comes. that includes what the fed's doing now, i'm not saying that's correct but things are already going right and that would only

be an after burner >> it's been a one way traffic for equities, commodities like oil and the yield this week but the dollar and gold showing a little bit of a turnaround. >> just today. we'll see if that builds into anything gold has been good along with bonds. >> we are out of time. "fast money" starts right now. i'm melissa lee and this is "fast money. tonight on "fast," records fall on wall street what should be your next move? straight ahead plus we're gearing up for another megaweek of earnings later our chart of the week. this stock adding $172 billion to its market cap since monday that name and how to trade it straight ahead we start off a with the road to records. s&p nasdaq