claim your seventy-five-dollar credit when you post your first job at indeed.com/groomer good afternoon, welcome to "power lunch," everybody, along with melissa lee, i'm tyler mathisen tech stocks feeling heat the sector down roughly 2% after last week's fall are we now in for a tech reckoning? plus, bitcoin falling dipping below $50,000. yikes. we're talking to the ceo that just launched the first bitcoin

etf in canada. the race to vaccinate is on. one major hurdle some people still do not want the shot we'll dig into who they are. and the numbers as "power lunch" starts right now and welcome to "power lunch" i'm melissa lee. stocks well over the load, s&p on track for a five-day losing streak that would be the longest since february of last year. bob cosanny has more on the markets. bob, looks like rates for now. >> yes, higher rates are hurting tech quite simple replay trade versus technology stocks and higher rates concerns about that take a look today it plays out just like it's playing out on reflation. energy, banks, materials, industrials holding out well big techs, semi ducters and

technology, to microsoft, apple, apple 12% off its high recently. amazon has gone nowhere for a few months now mega cap, just want to show you percentage from highs is a good way to look at this. facebook has been going nowhere for a while. apple hit a new high last month. amazon hit a new high back in august, believe it or not. alphabet and microsoft doing okay but you can't do this just on alphabet and microsoft actually, microsoft down a little bit today in terms of reflation trade. year to date, it's obvious you can see where people want to put their money now. how many people have money in energy stocks, seriously it's all up but how many people own exxon and chevron and freeport, banks up, copper, how many people own materiel stocks.

russell 2000 if you look at the s&p 500, essentially, tyler, we're kind of moving sideways so if you're an index investors you're fine. the problem overall if you're an active investors it's tough. you own tech stocks, right you don't own energy stocks or freeport macnaran. we're rotating around. tyler, back to ou. thank you very much. >> the next guest says the bull market is still very young and not do give up on tech stocks just yet let's bring in jim paulsen always great to see you, jim let's talk about the reflation trade that bob was mentioning. you seep inflation on the horizon. you say it's here. how big, how fast is it going to get? >> i think that's a great question, tyler. i'm not sure i know the answer to that, either. i certainly see inflation picking up

you see it with commodity prices you also see it in the major indices like the ppi and cpi i think you're going to have headline cpi go above 3% this year maybe 3.5-ish. and core cpi might make it above 2. i think inflation is here. but i think the question is is it going to be runaway inflation. or does it really just reflect how much the economy is picking up from a rear growth standpoint and from how low inflation was to start this recovery i lean a little bit towards the view that although inflation is coming up a little bit, i don't think it's going to get out of control. there's still a lot of major inflationary forces in the world. lousy demographics in the development world. lousy demographics in china. we still have -- the u.s. economy is more globally competitive than ever until

history. we're being led by deflationary force called technology across the globe. sticker prices go down every year we still have high unemployment in the united states very low labor force participation with excess supply we've got an output gap in this country that is still lower than 83% of the time in post-war history. >> right. >> there's a lot of reasons why checks for this inflationary pickup we're seeing. >> so one thing that you sort of touched on there was the idea that this inflation may be coming in part for a good reason and that is the acceleration in the economy. that's one thing but let's talk about interest rates. you see the ten-year bond moving up toward and maybe touching 2% sometime this year >> right >> can stocks stand that >> we're going to find out, tyler, i think you know, i look back, tyler, recently here, all the way back to 1900. i looked at all of the months and divided the ten-year yield

into those months before it was below 3% or above 3% where it's been above 3% three quarters of the time in history. stocks actually go down on average. when it's been below 3% only about a quarter of the time, when rates have gone up. on average, stocks have done really well. like 15% annualized performance. so we're not just in a rare environment. we're still in an unique yield environment where we've got yields that we've never seen in our history. and yes, they're coming up but i think it's doing more good for confidence that we're no longer facing negative yields. or that the economy is good enough to push it up and stocks gain. another thing to think about, we're not only coming from all-time record low yields but we're going to do it this year with some of the fastest economic growth we've had in the post-war era

current consensus calls for 4.8% gdp growth i think it's closer to 8% with all of the stimulus added. that kind of growth rate with a 1.5% yield i don't think it's going to kill stocks >> the context, jim, what you said, zero percent interest rates and that environment caused tech stock valuations to go out and in some peoples' eyes to become stretched. the question would be, do the rising states 2% or so pressure tech stock specifically? there is research done 80% of the time when the s&p 500 technology sector is down, the s&p 500 trades down as well. and this did data goes back to 1989 >> right melissa, i think technology secre sector is going to underperform. it's moved to broader marketplace, smalls are going tr

i don't think it's that tech suffers a collapse it's going to participate but underperform this kind of economy also benefits technology. it's just that the steady-eddie growth rate looks small in comparison to what cyclicals are doing in a strong economy. my point is i would own tech, i think it might underperform. but, boy, you're going to be glad you own a little bit of that on days where the overall cyclical market holds back and your portfolio that's kind of how i would look at it from the rest of 2021. >> jim, appreciate your time as always >> jim paulsen >> thanks for having me. the broader economy, which it was the impact was felt the worse. steve liesman is here. >> melissa, really change for

outgrowth powered by leftover stimulus from last year and more stimulus expected. but the higher growth that you talked about with paulsen there comes with growing concerns whether the economy will run too hot. with the wrap-up with the average forecast looking for 6% growth this quarter. that's almost double what we forecast last month. better growth expected for the next two quarters. between 7% and 9%, before coming down to a still strong 4.3%. for the full year, goldman is forecast at 6.5% inflation goldman said their less worried because of a onetime event and imports should offset pricing structures under goldman's scenario, the economy should be back to its potential by the end of this year a lot of this is coming up isn't jay powell's semiannual testimony in congress.

>> to be honest, if you had a chance to ask the question, the bond market seems to be telegraphing the expectation will be higher whether or not jay powell and company decide to do anything with where they stand in monday tear stimulus, it could be the bond market that just decides what to do anyway. >> i think that's a good area to question melissa the idea of how much tolerance do you have for higher bond yields at what point the higher bond yields start to impact the ability of your economy to grow and become constraining on the economy. i think another important question is whether or not any of this would lead the fed to back up, any of the growth numbers i was just talking about would lead the fed to back off on $120 billion of monthly purchases it makes >> steve thank you we've got a bill targeting apple in arizona

>> hey, melissa, that's right it's a key bill targeting apple and google and the way they operate payments within their app stores it has just passed the appropriations committee in arizona. it still has a ways to go which is why you're not seeingapple and google shares react much tell moves to a full vote in the arizona house expected later this week or early next week a similar bill failed last week during that hearing, apple testified that bill threatened to destroy the iphone as you know it. so there's a lot at stake here and the idea it's going to the next state and other states are considering similar bills that is a key victory for some of the developers that have been fighting for this for a long time and it builds on recent momentum that we have seen from states in lieu of pefederal regulators taking action on action >> diedra bosa, thank you.

janet yellen calling bitcoin highly speculative we've got the details. and plus, we're expecting to the etf debut in china how soon can the u.s. expect its own etf debut? it's hard to hope, hard to cope with crisis. so we get to work. we mend, fighting for every person in every neighborhood; we, the coming of the common good. so dare to care, to be hope-sided. we're never divided, when we live to give, we always live united. some say this is my greatest challenge ever.

when we live to give, but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)

bitcoin down today, about seven percentage points. after session lows after an all-time high this week. this after janet yellen shared

thoughts on the cryptocurrency >> to the extent it's used, i fear it's often for illicit finance. it's an extremely inefficient way of conducting transactions and the amount of energy that's consumed in processing those transactions is staggering but it is a highly speculative asset. and you know, i think people should beware. it can be extremely volatile and and, you know, i do worry, i do worry about potential losses that investors in it could suffer >> but not all countries are so bearish on bitcoin just last week, canadian regulators created the bitcoin by purpose investments we're joined by the ceo. great to have you with us. >> great to be here, mel slissa

>> the bitcoin how does it differ from what we know >> first of all, it using the elegance frame structure that we know all well from the bond markets and teffectively applie that bitcoin asset unlike the bitcoin will help supply and demand mechanics in it this will trade sufficiently and attract bitcoin over time. >> i think what you're getting at, som, the etf will track the underlying asset versus, the grayscale of bitcoin trust which actually has a premium above the asset? is that correct? you're getting a much better tracking mechanism >> that's right. and, look, this is an efficient way to ensure that it will always track because of the market-maker functional elements to the exchange of the fund. which makes sure during the day

the price will move in line, up and down with the bitcoin price. and won't trades at a big premium your discount like basically you would see in a closed end vehicle. >> what terms of interest are you getting in terms of the investor and also retail investors looking at this? because the market trail is a trade to the trust of the underlying asset >> actually, we've been quite amazed and overwhelmed by the overall response we're seeing really strong retail flow, of course and of course, institutional flow as well the size of the trading in the first couple of days has rivaled some of the biggest etf launches in history globally, not just in canada what's really nice, the amount of interest coming in by the phones from institutions that have really been watching it the first few days and now saying, look, we understand how this is going to track and able to use it what we have been seeing, i think, broadly in the space is

the fundamentals based on the long-term holders, those are the ones that are going to be really exciting as this product becomes more positioned in them. >> can you walks through the investors you've been fielding phone calls from >> so far, trading partners active in the space already. the fundamental investors that are long, investors only coming in and buying in small pieces. and of course, long-term, managers, advisers investors, traders and long-term investors. so all of them you know, i think the big opportunity will come when we start to see bitcoin become a core part of large portfolios. whether institutional pools and others that are exciting to see. ultimately, you bring an efficient vehicle for people to access this when they haven't been able to in the past that's what we expect will

change bitcoin's positioning >> i know you're not a fan of multicoin portfolios, som, but any chance of launching in the evethereum etf? >> look, with technology and attributes focused on decentralized demands and other applications we like evether yum we launched a corporation called ether cap. which we had influence on holding it directly. a lot has changed. we're excited with ethereum on top of bitcoin >> som, thank you for your time. >> great to be here. >> tyler >> all right, melissa.

after the break, reddit royalty, all hail queen kathy why reddit traders are embarking on art risks, kathy wood and the dow up more than 100 points nasdaq, though, going the other way. it is in the red almost down 200 points, 1.3%, splitting the difference is the s&p. "power lunch" wi brit cklle gh it used to be that brainstorming required a whiteboard and squeaky markers, but when you have devices that let you collaborate in real time from anywhere, the future works better. microsoft surface devices with teams, orchestrated by cdw enable employees to stay productive when working together, with high-quality audio-visual features designed for natural collaboration. so your team always captures every detail. microsoft and it orchestration by cdw. people who get it.

♪♪ microsoft and it orchestration by cdw. ♪♪ ♪♪ we see increased efficiency connected to more comfortable homes. emerson's energy star™ certified sensi™ smart thermostat uses geofencing to simplify how homeowners manage comfort and costs. emerson. consider it solved.

a group of retail traders on reddit seem to have a new stock guru arc invest's cathie wood, and they're betting on her playbook indicate rooney has more hey, kate. >> traders on reddit are all about arc invest ceo cathie wood she's gained the title queen cathie it's no longer keeping up with the kardashians. they're trying to keep up with cathie she got the perspective from online communities for beiullish

on tesla and last week, cathie added to palantir one showed her as a body builder holding the line of palantir there's more than 50 stocks that surprise these funds of course, not all of them are tesla. but the firm's etf has performed recently the additional etf saw about 150% gain last year. these are meant to be long-term plays and wood's investing style can be volatile short term those funds lost 20% or more during the march bear market last year. cathie and ark invest did decline to comment on her reddit popularity tyler, back to you >> so, did i see those numbers right, since the first of the year, basically, many of those

funds have almost tripled in that time, right >> massive gains and there's a lot of crossover between those different funds. bob pisani pointed that out. a lot of etfs have the same names aside from the again nomic etfs it's court of the slide wheel effect and into the trades and she's had an effect on names like palantir as you saw last week. >> is there any risk to aunt cathie from what she's doing in other words, she's putting out on a website what she's buying so, a lot of people would say that's talking her book then people come in and swim with the big shark and push those positions higher is there any risk for her in that >> jim cramer and others have

pointed that out, retail investors think i'm going to buy what cathie is buying. she has said and ark has said these are long-term risky positions bets on innovation and certain technologies that may not pay off in the short term. a game like palantir, saying they're trying to avoid short-term investors if the investors come in with the idea that they're making money short term there's a good deal of skepticism if you're following one person's tree. >> i need to correct myself, i misread the chart, kate, it was since the 1st of last year >> last year >> since the tripling gains. either way, i'd be happy with a triple in 14 months. thanks, kate >> thanks, tyler on "power lunch" back to the skepticism in addition to rollouts the government dealing with another key issue, convincing americans to actually get the

shot we'll talk to a top expert next. plus into the fold the foldable phones. why more and more brands seem to be betting on the retro vibe stay tuned you can try to predict the future or you can create it. we're driving it. everywhere. we emit optimism, not exhaust. we plug in our vehicles as naturally as we charge our phones. we. we are generation e. we want smart. clean. and safe. to also be fun, easy and powerful! ultium! a battery that charges fast. runs long. it fits everyone. nobody will be left out. and that, changes everything.

♪ ♪ your daily dashboard from fidelity -- a visual snapshot of your investments, key portfolio events, all in one place. because when it's decision time, you need decision tech. only from fidelity.

welcome back on rahel solomon here's your cdc update at this hour a cdc study finds that school teachers and staff may play an important role in spreading covid-19 in schools that don't adequately practice social distancing and the face masks. the cdc says it's not required to open schools but would make schools safer. speaking of outbreaks, boris johnson calling it the success of the vaccination program his program starts with four phases of reduced restrictions all legal limits on social contact will be gone >> today, the end really is in sight, mr. speaker and a wretched year will give way to a spring and summer that will be very different and

incomparably better than the picture we see around us today perhaps more good news, the fda clearing the way for speedy development of co-vad vaccines adapted to protect against various variants saying they won't go through lengthy randomized testing. >> thank you, rahel. let's go to the markets. we were watching the ten-year yield, 1.3%. we've seen the impact of that rate increase in the nasdaq with big tech getting hit hard. the s&p 500 down fractionally. energy continues to be strong. the strongest sector of the etf, for the strongest today. >> melissa the rising ohio prices a huge part of the story you just mentioned u.s. benchmark, west texas intermediate, $61.70 4% gains, world benchmark.

brent crude, $65.13. 3.5% gains there one of the big reasons why, simply put, it could take longer than previously thought to bring all of that texas oil production capacity back online after last week's deep winter freeze. millions of barrels of oil per day of oil and billions of feet of natural gas effectively offline because rigs were shut down due to the weather. it could be multiple weeks say some experts to get back to pre-storm output levels to oil and gas. meanwhile, an interesting dynamic playing out in the equities market, speaking of the interest rates that melissa just brought up traditional gas and oil, higher, because of commodity prices meanwhile, check out energy stocks, solar, wind, battery, sharply lower today. over the past few weeks worries over higher interest rates hit those spots. tyler, oil and gas traditionally on the rise.

some of the higher valuation solar stocks and battery stocks on the decline i'll send things back to you >> domenic thank you very much turning now to the race to vaccinate. a national forum to help build trust in the vaccine 260 million doses have been administered in the united states skepticism runs high between blacks and latinos a cdc poll say less than half of black americans plan to get vaccinated with over 70% of white to talk about that disparity, anita jenkins. good to have you with us washington is my hometown, i know it and love it very well. >> thank you for having me >> you're very welcome before we get to the vaccine issue. what are you seeing in your hospital, in terms of covid case

counts how are they trending? >> we are so pleased to say we're trending down, almost as low as they've ever been with the crisis what's happening across the country we've seeing the same thing here at howard university hospital the covid cases are low and less hospitalizations >> and you attribute that to what, exactly? >> so, the science behind it is that people are getting vaccines or people are making sure they're social distancing and masking. washington, d.c. has always done a very good job making sure we have those constraints around us to be safe i don't know the exact magic bullet, but i'm glad to see it >> let's go to the topic at hand which is the sort of fear that people in the black community and in latin communities have of getting the vaccine. this vaccine really, any vaccine. and i have to say, i'm ashamed

that i did not know the deep historical reasons for this. at all and it broke my heart when i heard them because it, once again shows that so much of what has happened in our country has been unequal. and unjust talk to us why people in the black community are as hesitant as they are. >> that's right, tyler there's a lot of history around how health care disparity has just been so different from the very beginning did they receive access to the health care and when they did get it, were they treated just as fair? and of course, the tuskegee experiment, i've heard language, they will not experiment on me with this vaccine. i've heard language, but what about this -- and then social media. the amount of misinformation

that still continues to fly around social media hit the black and brown community even deeper so there's mistrust in health care completely. but i have a lot of talking points that i use to discuss just that. >> so, a concern is that people, the tuesstuskegee, take us deepr there, that those airmen were used as test cases >> yes, to their deaths. so they were interested and untreated. what was going on was treatable. and they said, oh, let's just watch them >> yeah. >> see what happens until they die and did not give them that treatment. and they even included some black and brown people, for black people to say, yes, this is research. let's sign up for this sign up for this so there was this insidious usage of people in this experiment it was evil at its best.

and people still talk about it i don't know anyone who's an adult who doesn't know about the tuskegee experiment. so when the vaccines came -- >> yeah, as i say, i'm ashamed that i did not know about it until i got a little smarter still got a long way to go, obviously. tell us what you've been doing to counteract this reticence or hesitance? i understand you've gotten the vaccine and have gone into your hospital have you seen this log jam or blockage breaking a little bit so more people are willing to get the vaccine? >> most of last year, we were treating covid and then there was the concept that a vaccine might be available. i was excited. i had a meeting with all of my leaders, over 100 leaders on a zoom call, i'm talking about the vaccine, and they were in the chat room, what about tuskegee,

what about this -- i won't do it i knew then we had to inform our team members and our staff and then they started saying but if you take it, i'll take it we started every day sending out q and a, information what about this, how was it studied we did a study and 70% of our staff members did not want to take it. 70%. we are now over 50% have already taken it they've swung the other direction because of information. and it was one-on-one information. someone was concerned about research someone needed to understand and then i told them, do you today see it on their legs and iron lung? they said, no, that's polio. i said this is a vaccine this is not an american problem. this is not a black problem. this is a worldwide pandemic and the vaccine is a worldwide

solution >> anita, thank you very much for being with us today. anita jenkins, hospital at howard university. thanks again >> thank you for having me now, over to the bond market on the big day yields, rick santelli is tracking the action. >> melissa lee, it seems every day lately is a big day for yields if you look at a chart of ten-year notes that starts last week, we had three top basically 132-ish. you see them on the left side. now, we're coming down and holding those levels the intraday high was 1139 from the wee hours of the morning. let's look at month to date, shall we i find this fascinating there are only three sessions in the month of february, ten-year note, that the yields have gone down you see the momentum are continuing and if you look at

year-to-date of yield curve, this drives it home. we closed last year at 80 basis points we're hovering at 125, now we're up to 128. it's a staggering move finally intraday, the dollar, looks to breach 90 we haven't closed under 90 except for a few sessions earlier in the year. technically significant. we want to watch that close. melissa lee, back to you >> and january 27th, the yields were 1.0, 1%, quite a climb there. on a technical basis, are there any levels that people are watching in particular >> well, in my opinion, any kind of a close above 137 will signal, in my opinion, we'll be testing levels around 1.5 to 1.6. i think the downside is almost more interesting right now, 119 should be very, very large support you should find some self-stop under that level where people would want to get out of their

long yields for a short price position >> all right, rick thanks up next, wells fargo said the consumer has never had this strong a comeback follow a recession? what does this mean for retail stocks . >> next, goodyear tire stock soaring. today's power move evers how do we ensure families facing food insecurity get access to their food? we needed to make sure that, if they couldn't get to the food, the food would come to them. we can deliver for food banks and schools. amazon knows how to do that. i helped deliver 12 million meals to families in need. that's the power of having a company like amazon behind me.

we see breakthrough medicines getting to patients in record time. at emerson, our automation software is empowering pharmaceutical companies to accelerate their production of critical vaccinations for the world. emerson. consider it solved. hey, our worker's comp insurance is expiring. should i just renew

it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? sure! get a quote in 3 minutes at easyaspie.com. that is easy. so, need another reminder? no, i'm good. reminder for what? oh. ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com.

time for today's "power movers." first up, cooper tire announcing the company will be sold to goodyear, making it's the number three company based on revenue cooper tire and goodyear surging on this news "-based people's financial acquired by m & t bank in an all-stock deal people's united up 15% finally, boeing shares are lower. they have turned positive after falling 3% in market trade airlines grounding dozens of 777s after one airliner crashing

to the ground in denver. let's get to seema mody for trading nation >> thank you, mel. and barclays saying it's time to revisit off-prices and credit suisse and wells fargo upgrading mcdonald's, chipotle and others to overweight let's bring in katie upton and katie, where are you placing your bet >> well, i think it depends on what your time line is, for the near time, i think that will see up-performance from consumer staples stocks they tend to be the most exciting positions but in the weaker take with the period behind us with the loss in major indices, we are seeing early indications of rotation into

consumer staple stocks that said, i would love to see a pullback in that higher flyer, in the discretionary space, the names that are established uptrend. and the names that late last year saw turnarounds names like ford, for example, that was a value-based breakout that we saw in q4. and great upside quality that now has month long-term momentum for the first time since 2015. and it's reversed that downtrend. i would welcome a pullback in those types of names also travel and leez leaisurelee >> do you think they're bullish? >> we do like teams that outperform in a bull market which continue for 2021 and that is going to include consumer

cyclicals. the one pocket that stands out is special retail. because that's a pocket where you're seeing participation broaden out. it's not just tjx. it's ross stores, burlington stores as well tjx was part of the lead-in, the stock broke above its precovid peak in the fourth quarter in december it consolidated there. came back and tested that breakout point in january. very often, prior resistance for support. that's what happened, now inflecting higher again. we think that's a resumption of a very big breakout in price we expect that price higher. >> ari and katie, thank you. apple is back on top with market share head to the website and follow us on twitter for more analysis there. tyler, over there. >> thank you very much, seema. can you hear me now? very good. apple shipping more smartphones than any other company, seema

just mentioned it in the last quarter of 2020. topping samsung for the first time since 2016. we will talk about the latest battlegrounds in the fight for cell phone supremacy that's next, and as we head to break take a check on the markets. the nasdaq down more than 1% as tech leads those stocks slower the dow up about 0.5%. be right back. and now the latest from tradingnation.cnbc.com the golden cross is where the 50-day moving average moves up through the 200-day moving day average. while this pattern is not intended to get to you the very bottom, it can be an effective entry point for a stock in an uptrend. i'm randy frederick. and schwab is the better place for traders.

♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪

♪♪

the phfolding phone wars heating up huawei releasing theirs today. it brings them head to head with samsung. will apple join the fold, so to

speak? the iphone maker saw a 17% increase and reclaimed the global smart phone lead from samsung for the first time in over four years. joanna stern joins us. >> good to see you >> apple often is not the first to the race when it comes to various technologies may not be the first to the race, if ever, with a foldable phone. do you think this is a viable thought even that apple would consider developing a foldable phone when there are so many other features users want right now, like wireless charging? >> i like to picture apple executives sitting in cupertino right now sort of laughing and watching all of these other phone makers releasing folding phones right now they sort of do this pretty often. they let the android movers and shakers get out there, release new features, see how they work, see where all the technical and

hardware pitfalls pop up and then they usually join the market and create some other sort of technology to make things a little bit better or make it clear that this is what the masses want. i think that's what apple is doing. it's taking a wait and see approach what we have seen with the foldable phones we have seen first generation hardware issues, issues with the screens, issues with the hinge that makes the single screen fold in half it will be interesting to see with this new huawei if it has improved we are the second generation of samsung and other players. >> it is very difficult to get a huawei phone in the united states they are facing a whole host of issues when it comes to demand for their oukt product they have a limited market in terms of the galaxy phone, it didn't save sam sng sung from

losing its number one place from apple. >> there are a couple of reasons why the huawei phone will take off. it doesn't run the right android apps that everybody wants. you can't get google apps on here that's a struggle for those in the android ecosystem. number two, the price, nearly $3,000 that has been again the first-generation issue with these foldable phones. >> $3,000. yeah i think this is at $2,800 when you do the conversion. >> wow i can't even imagine in china the status symbol, a rich person having a huawei foldable phone for $3,000 versus an iphone 12 >> exactly it has been the case for the samsung phones as well they have told me they are working to bring down the price point. all of the phones are above $1500. they have been working hard to bring that down to lower price points they have been successful over the last years

you brought up samsung falling behind apple in the last quarter. i think that's a combination of apple and the brand-new iphone 12st 5g and the pebt up demand and samsung was caught flat foot around the pandemic not having the right price points they have done a couple of things in the last couple of months with the galaxy s 21 and relooking a the pricing structure on its phones. >> it almost seems like you think this was a fluke, a one off, that samsung will actually recoup it is leading position after this quarter works through? >> it is hard to say the air in the smart phone balloon has been taken out over the last couple of years it is hard to say where any of these phone make remembers going. apple is also looking for other opportunities, right likely exploring folding phones just to make the smart phone more sexy again. sorry, i said sexy and smart phone in the same sentence i done like doing that but all of these phone makers

looking for other types of product, looking for other types of innovation to make their consumer electronics exciting again. >> joanna thanks for sharing your thoughts. we appreciate night thanks for having me here. >> joanna stern. tyler? >> all right we will get you a final check on the markets right after this quick break. and don't forget, please don't, you can always watch or listen to us live, on the g on the app. the cnbc app 'lbeig bk. we see smarter software delivering cleaner power. emerson's breakthrough technology enables the power industry to integrate renewable energy sources to modernize and improve the electric grid. emerson. consider it solved. keeping your oysters business growing and improve the electric grid. has you swamped. 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/promo

welcome back, everybody, you are probably watching the bottom of our screen the see the house budget committee voted to advance the $1.9 trillion relief package being pushed by the biden administration sets the stage for the house to pass that bill as soon as this week meanwhile, melissa, we look at the industrials. they are up a little bit s&p, i think this would be five days in a row of negative closes haven't seen that kind of action in quite some time the nasdaq taking the main decline, 1.66% it will be interesting to see what happens with that bill because it gives immense power to individual democrats in the senate because they have got get 50 votes completely because not many republicans will go along with night it is a test of the democrats' power the yes, it is. >> tyler, this all could be helping to fuel the rise in the ten-year yield we have been seeing touching 1.39 ever so provely but having an impact on how the broader markets are trading

today. particularly the nasdaq. one stock that seems to be defying gravity, ccib churchill capital is a blank check company. there is another report that loosen motors will go public via merger with ccib it is pushing it up even more, it is up 500% this year. wow. thank for watching "power lunch," everybody. "closing bell" starts right now. thank you, melissa and tyler, and welcome, everyone, to "closing bell," i'm sara eisen here with wilfred frost. the action is in the nasdaq today. of a 1.4%. s&p is lower dow is higher. real divergence. let's look at what's driving the action one hour left in trade the rise in bond yields continues to put pressure on stocks focus now turning to central banks and their response we are seeing the drama play out in high-tech growth names. fangs lower, apple and tesla down 5% apiece travel stocks like reopening plays, financials, energy screaming