>> i have no idea what you are talking about. >> yeah, it was a big day. i was proud of you. pete >> thank you, scott. >> i will tell you, scott, it is amazing how many people were all over the fact that energy would not move again, and now looking at what is happening with energy, and going back to november, and xom is continuing to work, and chevron is working and going higher. >> thank you. "the exchange" is next. and i'm brian sullivan and welcome to "the exchange" and this is what is on tap this hour. happy birthday. one year ago today, the 10-year bond yield fell below for the first time ever and could we be headed down there again. potential home buyers and all of you down there would love that. forget merger monday, this is private equity tuesday and looking at the sands and the $6

billion deal for a tire-changing company, and speaking of apollos, the private equity companies, and now, the future of work in a post-covid world, and what areas of the job market and technology will show the biggest demand and what industries have seen the biggest shifts in who they hire, and the ceo, and who knows he is here, and by the way, the stock has nearly doubled in a year, and it is a new name for you, i'll bet, and we will bring it to you. that is all ahead, and let us begin this hour with the markets, and dominic chu is joining us with what is moving and what is not and why it is happening and everything in between. >> ebbs and flows, but for now, a mixed day pretty much for the entire market. we started off modestly lower, and picked up steam on the downside and then a trek back up, the dow industrials right now in positive territory up .25 of the session, and the s&p 500 is off about 1.25, and weakness ins the technology stocks, and

manifesting in the nasdaq composite off 1.50, and underperformer, and trying to find any bid there as we head into the afternoon and into the closing bell. check out these names, zoom video is off 6%, and peloton off 7%, and way fayer off 7%, and all off the similar percentage, but they have been beneficiaries of the stay at home and work from home pandemic for the larger part of last year, and many of the work from home, and at home work related stock for the theme developed that things are reopening, and things may be looking different in the coming year, so we will see if the expectations can continue in the downside, and the ipo of the day, and the public offering of the day, because technically this health company was a direct listing on the stock exchange today for oscar health, and it

was 39 bucks per share and opened up at 36 dollars a share, and you say this a tough one sit down from there, but this is already elevated valuation, and oscar health had targeted 32 3234 -- 32 to 34, and then to 36 to 39, and then looking at the dilution, and keep an eye there, and the public offering of the day, i should say. back over to you, oscar health. >> and the chart before was zoom, and peloton and others, and last night when the news about texas broke saying, well, okay, well, they are not wide open, because texas was pretty much wide open, and they dropped the mask mandate and georgia the same, the stocks started to fall, and it is the anti-vaccine trade if you will. i know we call it work from home, but the reality is that the better the news is that we get on covid, and where we may be going in a month or two, and the president saying that every adult could be vaccinated by the end of may, and those stocks may

be in the world of hurt. >> that is the point there, and brian, it is not just the texas headlines, but this idea that president biden is saying that we could have a lot of doses by the later end of summer, and if things are continuing on the right track, things could be different next year. so this whole idea that the covid pandemic is could be -- >> a year! next month. >> this is what you are doing if you are a politician, you stet expectations lower and then you exceed them. >> you see, i set the expectations incredibly high and fail to deliver. that is why, dominic chu, i can't wait to see you in the new shoes. thank you very much. i saw you on the gram. all right. now, a little bit of the birthday in the bnd mond market because it was a year ago on this show that the yield fell below 10-year for the first

ever. listen to this. >> let's bring in rick santelli in here down at the cme and watching, rick, to see fit happens today or in the next ten minutes here. >> well, i was just getting ready to take the picture, because i can see 9999, and there it is. snap the picture for history and i will send a copy to janet yellen and ben bernanke and jay powell. >> and congratulations on the growing family out there, and we will see you soon. and now, on the show, yesterday, he says we may be headed back down below 1%, and further down the road and this is what he said yesterday when i asked him directly with the recent pop if he believes that the 10-year yields will reverse and go back below 1%. >> i believe so. our work shows that as long as this trend is staying in place, and which has not been violated

yet in 35 years, and you know, the models tell us that we are going to have a 10-year yield that is negative. >> for now, let's bring in bob yikele, and kelly head of strategy for ibc markets, and bob, that is a contrarian call by scott, and you agree or disagree >> no, i don't agree with it, not when you have monetary fiscal and health care responses firing on all cylinders and creating an acceleration in the economy. we are looking actually for a very different round trip. we came into 2020 with the 2% 10-year treasury yield and we think that we will exit 2021 with the 10-year treasury yield which is going to better reflect all of the policy responses that we have seen. >> well, bob, i guess that scott's point, and i don't want

to speak for him, but summarizing the interview that all of the stimulus money, even if it is going into the checking account is going to impact the t-bills and the treasury is drawing down, and they have to borrow more money, and this is the thesis briefly behind the call which i know is a contrarian position. >> yes, but there are so many other factors in play right now. there is going to be some sort of new economy that emerges, and i don't believe that anyone believes that we will go back to what the old economy was, and that is going require a lot of capital investment, and we will see it, and then also, we are in a world where modern monetary theory is a generally accepted practice, and so you can delay paying back the debt for a very long period of time now. >> lori, let's talk about the stock side, because the response from scott, and other people on the social media things is basically if scott is right, and i know that bob disagrees, but

if scott is right, and you should let me know if you agree or disagree, but equities have nowhere to go but up if the yields come back down. >> well, look, i would say that i am actually maybe a contrarian on both fronts, and more in bob's camp of the 10-year is headed and a lot of factors to look at and the recessions usher in regime changes, but look, i think that the equity market relationship with yields is a very, very complicated one. and perhaps if we see the 10-year move down, you can reinvigorate the tech side of the market, and take it back up again and i would not say get out of the way, because it is a very very narrow trade with some of the old leadership, and frankly some of the time that i have been spending is what happens if the yields creep higher and we do think that the equities can model through it, but we think that it is going to usher through one of the regime changes where the value of the

cyclical oriented markets is going to work. and so, it is going to be what scott is suggesting. >> well, by the way, lori, muddle through, and somebody says, well, muddling through, and not a ringing endorsement, but what do you mean by muddling through for stocks it does not sound like you are bullish in the equity market overall. >> well, brian, i am not the raging bull out there, the but we have a 4,100 target on the s&p 500, and as yields have been creeping up recently, and we have been seeing the market be flattish, and we have been getting back a little bit, and the market seems to be absorbing the rotation out of tech and into the cyclical parts of the market, and so it is not off to the races, and that is going continue steam and continue to make the headway through year's end, and if we have the reverse headed back in, and look at last summer when we stau markets trade flattish, and the text trade was reinvigorate and people were worried about the economy, they seemed to muddle

through, and so the risk with the undertone through the market, and so sometimes, we get caught up in the particulars, and take a step back of what is the move up into the bond yield is telling us, and the fundamentals, and they are good and improving, and you were talking to dom about the vaccine trade. i will tell you that a lot of the investors in january and february thought that people were too optimistic about the reopening and the exact opposite has happened, so i think that we need to take a step back, and say where are the fundamentals headed are they better or worse than people expected. so far, that is a good story for stocks. >> and the dow is up 80 point, and not down but up as well, and so we are muddling through. and so, thank you very much. have a good day. all right. two other hot areas of the market are colliding today, and the worlds are colliding real estate and spacs. title insurance company doma

announcing plans to go public in a $3 billion spac deal with capital investment. who is doma? they are using machine technology to speed up the title processing time from buying a home from five days to one minute. capital investment went up 3% after the announcement as well, and joining us for more on the deal is maximkoff on the deal. and how do you speed it up, because assomebody who bought home, and it took forever and a lot of contention in the closing process, and what did you figure out that millions of other people in real estate have not been able to >> well, thanks, brian, and it took us outside of the real estate industry to figure out if you are using the modern day technology to use technology to close that it is not novel and we used machine learning to remove the peskiest part of the process to get people to close

their mortgage digitally and easier and more cheaply. >> so by the way, a lot of the realtors are watching and listening in car and driving around in super hot housing market, and how does it work, and how much does it cost, and what do they need to know? >> so the wayt works is just like any other title or escrow solution that they are currently used to using where they send the transaction to us. we use all of our modern day technology and machine learning to collapsethat time frame fro days or weeks to minutes like you mentioned, and we do dit all in industry beating low cost, and we make it a no-brainer for every consumer across the country to use us on every refinance and purchase transaction and better, faster, and cheaper. >> you are backed by the home building giant lennar, and you have currently 1% of the title market, and that is not a lot, but it means a lot of runway there. and why are you backed by lennar, and what is the team

bringing to the table that you didn't have before >> we partnered with them a couple of years ago when we bought from them one of the largest nationally licensed insurance carriers, title carriers and locally affiliated title companies and we made lennar a title holder, and that is why this business has gone from zero in revenue in 2018 to a million and well on the way to 500 million in 2023. >> what do you do with the money with the proceeds and a pipe to pay off the early investors as well, but what is the next step for you, max >> most of the capital is going to go on to the balance sheet as you mentioned, phenomenal new investors like blackrock, and the gores group, and lennar is investing and in terms of the capito capital, we want to invest to the self-invested plan to take

to us 550 to go to multiple paths to go to a billion to billion and a half of revenue in the next 3 to 5 years by accelerating the escape velocity in the markets that we are in and also entering new markets. >> maximkoff simkoff thank your coming on the show. >> thank you. >> and if you think that the spac craze is over, goldman sachs thinks it is not. they are finding that some are trading at major premiums and more than 40% or more at the ipo price. maybe that is the sign of the bubble, who knows. to learn more go to cnbc.com/pro to get that list of some of the spacs that goldman is naming. coming up, while approved in europe, astrazeneca's vaccine is yet to get the greenlight in the united states. why? i will speak to the company

about the phase three trial and how they are becoming the fourth vaccine in the u.s. market, and plus, arts, crafts and cash. why michael's is going private, and the cohead of the pe business is going to join us to talk deals. we are back in two.

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all right. we talk about vaccinations and concept that some of the states that are yet to open may get there soon serer than later ande are the rollout numbers. more than 100 million doses have been officially delivered in the u.s. and 80 million of them administered and more than 20% of the adult american population in the u.s. in just over 26 million have received both doses meaning about 10% of the adults in the u.s. are now fully vaccinated against covid-19. cases and hospitalizations are thankfully plummeting, and in arizona, the average seven-day of cases is down from the peak of 90%, and even new york is down 57% from the highs and keep in mind, folks, that there are a lot of millions others who have

had it and recovered as well natural and whatever immunity you want to talk about, and maybe hopefully here sooner than later, and we will talk about that, because the supply and distribution is going to pick up at home, and it is a very different story overseas, particularly coming to astrazeneca's vaccine, and meg tirrell is joining with us the latest anda special guest on, that meg. >> brian, thank you so much. public health experts will tell us that the pandemic risk to us in the united states and everywhere is not gone until it is mitigated everywhere around the world. astrazeneca and oxford this week announcing they are shipping the first doses of the vaccine to low and mild income countries and for some of these, the first access of the vaccines they are getting this week to ghana, and coat cotedivoire.

and some these are piling up of the doses as they say there are not enough data for the vaccines in older people, and so to join us to discuss this is dr. rube dobber and vice president of astrazeneca, and so, thank you for joining us. start with the report out of europe with the idea that there is not enough data to use the vaccine in older people, and how does astrazeneca look at the approach >> thank you for having us on the show. and first of all, it is important to look at the regulators approved our vaccine for unlimited age up to 65, and there was confusion about the amount of data in the elderly. i think that recently, we have

been able to show by real world evidence in scotland and in england that the vaccine is highly effective and safe in elderly population of 80% efficacy in people 80 years. so you will see more and more local organizations changing the guidelines and it is more of a matter of time that you will see that in europe. people will embrace this vaccine for the elderly as well. >> and as you are starting to shift to low and middle income countries as well, tell us about the manufacturing capacity that you and oxford have established around the world through partners and the serum institute of india and how many do you expect to have distributed this year, and how do you expect to allocate those through coe vax an -- covax and other countries? >> yes, we have an ambitious supply of close to 3 billion

doses this year. that is a massive effort, and the colleagues of astrazeneca, but our partners are going to do that to supply that, and equally important pledge to supply more than $300 million to the low and middle income countries, because it is important to see every american, and european vaccinated by good vaccines with equally the world is not safe with every one has been vaccinated and so we have a clear pledge to secure a broad and equitable access around the world, and so we are excited to see the first doses going to the low and middle income countries. >> so you also have a phase three trial that is ongoing here in united states, and we understand that it is fully enrolled and you are expecting the data over the next few weeks. i wonder if you can help to set the stage of what to expect from the data here, because you are

spacing the doses in this trial four weeks apart, and meanwhile, you have generated the data showing that if you space them four weeks apart, you will get the higher efficacy and testing the regimen from lower efficacy and how do you interpret the results? >> the data is extremely important, and then we will address the dosing in the second question in a moment. because of the relatively high proportion of over 20% of elderly, and we will get a new data set in order to show that the vaccine is effective in the the elderly, and second, we have a very large group of minorities in our trial. so the trial will give us new information we didn't have before. cop coming back to the fair question about the u.s. trial that was designed at the moment that we didn't know exactly what was the optimal dosing nterval, and therefore in the u.s. trial we have four weeks, and that may

not maximize the efficacy and now we have overwhelming evidence that if you wait long foreseclonger for the second shot, you will see increased efficacy so it is up to the regulator to see if we are getting in the uea what we are looking like is positive regarding the potential data out of the u.s., and how is it going to help further accelerate the number of vaccines also in the united states, because we need to have more, vaccines to ensure that everybody is going on to get a vaccine sooner than later. >> and with that, how many doses in the u.s. do you plan to have on the emergency use authorization? >> in the uae we are planning to start with 30 million in the first step up to 50 million, so we are producing at high speed as we speak. so we feel comfortable in order to have 50 million after the

first month, and thaf, we have a clear ambition to supply between 15 and 25 million a month. so the numbers are very substantial, and we are on track in order to deliver the commitment of 300 million doses to the u.s. government. >> all right. ruud dobber, we appreciate your being with us. thank you so much. >> thank you. >> brian, back over to you. >> thank you, meg. thank you very much, and fantastic and important interview, and again, meg is always just bringing it. on deck, how has the job market changed and where are the tech jobs post covid. a company whose stock has doubled, and this is going to be a new name to you, and then, what could be be the most valuable tweet to the largest one-day gain in wealth. we will look at the so-called w 1, d a b doup56anwereack after this. or what's trending. get real-time insights

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all right. welcome back to "the exchange" everybody, and the dow is down from the growth perspective, but the dow is down, and the dow zigzagged up, and up and down 150 points and boring old names leading the market, financials and industrials and energy, and they are all your leaders certainly in the market today. and utilities and health care is the biggest health care laggards and along with technology.

looking at crude oil up again 2%, and around $61 a barrel, and pretty big opec meeting tomorrow, and oil is the trade this year, and oil and oil stocks up 33% in 2021, and in the meantime, renewables are going the other way. the tan solar and iclfs are down, and the tan, and the solar etf is lower this year. and also in focus so-called gig economy stocks like fiver, door dash and grub hub are lower and uber and lyft are notable standouts and in fact, they are higher, and lyft is saying on track for the best week since the pandemic lockdowns began, and lyft up 10.5%, and uber up, and they are expecting a fourth quarterly loss than previously projected and how can we not show you rocket companies, the gamestop of this week if you will on wall street, and that

rkt is down almost 30% right now. right now, let's go to rahel solomon for a cnbc update. rahel. >> hello, brian, and everyone. senate majority leader chuck schumer says that the senate could take up the covid relief bill tonight after income limits were tightened for stimulus checks and some projects were removed from the bill. and some authorities are looking that some migrants breached the border before they collided with a tractor-trailer killing 13 of them. and ronny jackson bullied and humiliated people who worked for him in that job, and jackson, a congressman from texas, denied the allegations and called them untrue partisan attacks. watch the news with shepard smith and find out what else he is accused of doing while working for the white house. that is the cnbc news update for

this hour. brian, back to you. >> thank you, rahel solomon. and coming up, where the so-called smart money is betting on vegas, and scrapbooking. apollo group retailer is sending the shares soaring, and snapping up las vegas sands properties, and we will speak to a key player in both of those deals next. we are back after this. we see engineers simulating the future to improve today. at emerson, our digital twin software makes power plants smarter, helping facilities optimize operations and increase worker safety. emerson. consider it solved. ♪♪ in boxing or any other business,

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welcome back. private equity firm apollo is making two bets today. one on sands, and the other on the retailer michaels. sands is trading higher in more than two years on the news. leslie pickering is here with the news. >> yes, the first as you mentioned apollo agreed to buy the operating company of the venetian for $2.5 billion and they are purchasing the land and the assets underneath the venetian and apollo signed the long-term deal with vechi with that deal, and it was a key part

of the transformation away from, well, las vegas, and towards asia in the lease, ceo robert goldstein said that it is in the center of the the attention and apollo also taking michael's companies private. the retailer has been a huge beneficiary and you can see the stock price there of to do-it-yourself mentality of the pandemic, and the stock prices surging 500% over the last year. that didn't scare off the normally valued oriented apollo who made an unsolicited offer, and agreed to buy it for $22 a share, and whopping 47% premium from the stock price from last friday before the reports surfaced that a deal was in the works. michaels shareholders are applauding this deal sending the stock to above $22/share deal, and perhaps the notion that there is a higher deal that they

go shop vision to allow michaels to pursue other suitors in the next 25 days, but not many have taken privates, and as of late, only two, and both of the deals are in sectors that have been transformed in the pandemic, retail and travel. so many, many questions on this, and for more on the deals, we are joined by david sandberg, head of equity at apollo global management, and thank you for joining us today, david. we appreciate it. some may look at the deals in the sectors and in an uncertain time, and we haven't seen that much in the way of buyouts recently, and they may look at this and say, it is a contrarian take, and betting on the travel and the retail, and can you help to give us a deal of how apollo is viewing the future in the post pandemic world? >> sure. and first of all, thank you for having me on this afternoon. look, you hit the nail on the head, an contrarian is what we are known for with both of these

investments, and we are taking a point of view regarding the future, and i think that for travel in particular, this is one of several bets that we have made in the last 12 months regarding the recovery of people's desires to travel whether it is the investment in expedia or the recent take private what we did for take ka nad ya, the gaming company, and reconstruction of mexico out of bankruptcy, and the european lottery operator, and we have been amongst the most active in terms of expressing a view that once people are comfortable and feel safe enough to do so, they will resume past behaviors. >> but buying the venetian is not just about buying travel per se, because it is a large business component to it as well and the largest convention center in the united states. and many members of our audience have probably been there with

business-oriented travel. and do you see business travel coming back as a way to benefit from the acquisition >> yeah, that is a good point. the short answer is that we do. we think that the recovery for business travel is going to be looking different than the recovery curve for business travel. one of the business model is to do due diligence and primary research. a couple of key points to highlight is that the first is business travel is correlated with the corporate profits in the stock market, and both of which you note from the reporting are doing quite well, and the other part of what we were able to do as part of the due diligence is to look at the business on the books for the next three or four years, because the convention books out several years in advance and able to speak to several customers and get a sense of the travel plans, and based on that work, we were comfortable that people will return to going to conventions, and in fact, some

may say that the convention business could be stronger in the post covid world, and spend more time together, and the case for business meeting once or twice a year or four times a year to get people together could be stronger. >> that is really interesting, and i have not heard it put that way. another aspect of the pandemic has been kind of this do-it-yourself mentality, and people are taking up the hobbies and the crafting, and that has been a huge boom for michaels which, you know, the transaction implying a 7x multiple on ebita, and it is a premium on trading prior to the reports surfacing of deal being in the works, and so what do you see as your ability to drive value at these levels, and are you worried that there could be a competitive bidder that could come up ahead of the $22 value price as the market has indicated right now

>> right. so at some point, the deals are very much the same, the venetian deal was affected by the coronavirus, and michaels did well by people sitting at home, and looking for alternatives in the early days of the recession and the stock market looking to be negatively impacted and turned out to be positively impacted. i can't look at what is going to happen in terms of the competitors, but this is a business that has done exceptionally well in the pandemic, and it is probably hard to envision that it is going to continue to have above normal profitability long term, but with this business, we have a long history in specialty retail at the firm, and the partner who worked on this deal has been working on the specialty retail deals, and we have a specific point of view of how to create value in the business. any time you buy a public

company or the private company like we do, it is not just the macro, because you have to get the micro and the macro right, and there has to be something that we are doing to create value to justify stepping up to buy the business. >> and what is that plan what is the way forward for michaels especially if you are saying that it is possible that the profitability has peaked at this point >> well, a lot of it is tactical. you know, basic things that we know through our experience of running large retail operations, and some of it is strategic, and there a couple of ideas that we have regarding growth that i am not in the liberty to get into at this point, and suffice it to say that we do have exciting things that we have been working on to share in the future. >> what about the private equity industry has a whole right now, because we have seen dry poird raised for various private equity fund, and apollo has raised the most in $125 billion

and how is deal environment right now, and how difficult to put the capital to work, and obviously two deals today, and overall, the industry has, has had a bit of a challenging time especially now that you have spacs with competitors, and deals on the balance sheets, and can you give us a sense of what is it like behind the scenes in the deal environment right now >> sure. look, i don't think that we make a sympathetic figure by standing here to tell you how tough our deal s and professional investors love the bemoan the environment that they are in, and things are too expensive or if it is too cheap, it is because the financing is uncertain or not available, but what i will say is that even in this economy that has a lot of momentum or val weighs is fair or quite full that we will see the opportunity, and today is the great example of that, and

yet we had one of the biggest opportunities, and we are still finding values and opportunities in what i would say is a pair of values. >> clearly, two big deals, the venetian, and michaels, and thank you, david, for joining us today. brian? >> and leslie, it was not just that, and may vis discount tire, and don't forget a $6.5 billion deal for a tire and oil changing shop. >> you are right. reit privates up big today. >> come on, greasing the wheels of capitalism. >> hmm. >> that is a tire change joke, leslie picking. >> i thought that i had taken up all of the puns today, but you come in with one more, and thank you for that. >> that tire joke really fell flat. thank you, leslie. >> all right. >> and i knew that leslie would

appreciate it. nobody else did. rocket not lifting today, and shares are down 30%, but the recent monster run powered by reddit made one man very rich. we will look at him and another becoming very rich after announcing that the market increase is going to increase the dividend and the annual hike we will be back after this they know exactly which parking lots have the strongest signal. i just don't have the bandwidth for more business. seriously, i don't have the bandwidth. glitchy video calls with regional offices? yeah, that's my thing. with at&t business, you do the things you love. our people and network will help do the things you don't. let's take care of business. at&t.

all right. welcome back to "the exchange. ooh " rocket company is the latest to get the wealth creation, and when we talk about wealth creation, we have to bring in robert frank and who exactly has been reddit rich. robert >> well, brian, reddit has created a whole new kind and whole new speed of wealth

creation and destruction. rocket's largest shareholder dan gilbert added $30 billion to his net worth yesterday with the stock worth. so in one day he added a rupert murdoch, and jack dorsey and all in one day, but theday, he lost a ken griffin or $15 billion and so today, he is around a michael bloomberg around 23rd on the world's rich list. michael cohen, on the gamestop activist, he has seen the stake go from 76 million dlrdz from when he bought it back over a year and a half ago to over $3 billion in january back down to $400 million and then in the ice cream tweet back over $400 million, and that is a $1

billion ice cream cone. and now, continue iing to sell on top of the 13 million that he had sold back in january, brian. so, you know, the idea with reddit was to democratize finance, but they have made the billionaires a lot of money in the short term. >> but there is people like we highlighted in the show that threw in $500 and jacked it up to $200,000. so i guess as long as on every trade there is a seller, too, right, robert? >> there is somebody on the other side of every trade, right? >> yeah, and it depends when they got in and when they get out, and what is interesting about the gilbert, and the cost family or the cohen, so they are founders, and they have little to know cost basis to the shares or like ryan cohen who got in with the investment is of 76

million and now over $1 billion. so i doubt that any of the reddit folks got that buy-in level, but you are right, we will see, because a lot of people are making money, and not just the founders. >> robert looking at the reddit rich. and it is all coming together somehow, robert. thank you very much. >> all right. still ahead, by now, we all know or at least believe that working remotely might play a large part of what the future of work looks like for many of us who can do that kind of thing, and with that in mind, what are the next challenges facing employers when they are looking for the best employees. we will speak to the i.t. recruiting firm and the stock has doubled in a year of where the jobs are post pandemic. looking at the shares of animal health, and the stock is popping with the news that starboard a tina akofg ste the company, and the stock is up

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it's moving day. and while her friends reinvent shopping by coare doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, awesome. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. all right. welcome back let's talk jobs. an important checkup on the health of the labor market this week the adp report showing that private sector payrolls

increased by 117,000 jobs last metropolitan, 60,000 fewer than predicted. if schools aren't open and you can't live your kids at home, how do you go to work? there's increases signs in jobs growth, even in leisure and hospitality starting to open up a bit. the post-pandemic labor market is starting to take share. exactly how will it look asgn might be -- and by the way, the stock, you might know about it, it's nearly doubled. ted hansen is ceo of asgn. good to have you on, maybe for the first time what is it when you look at it as an i.t. post-pandemic workforce going to look like >> thanks, brian

if you think about the future of work in post-pandemic, there's been structural change here, right? so, you know, where before the confines of where the client was located and the technology worker needed to be --cost -- while we won't be remope forever, certainly we're almost 100% remote today, we'll be coming back in the office in a hybrid model i think clients already are thinking differently about the future of work, because the pandemic has taught us that remote works we have learned how to manage productivity we've learned how to collaborate, how to keep projects going, even getting them done and start new things so i think in the future there's no question our clients are telling us that they're open to access talent anywhere in the u.s., just not in the particular geography where they have -- and then i think for the worker,

what's really important here, the tech workers, is now the opportunities are boundless. they might have looked at an opportunity that was in l.a., new york or dallas or what have you, and going forward they can think more broadly about where they want to apply their talent. so, for sure, even though we're going to come back into the office for some degree, the future of work has changed >> yeah. there's also the types of i.t. industries, i would imagine have changed as well. edge computing is the new thing. if you say you want a career this i.t., where are the jobs geographically, but where are the jobs industrywide going to be >> that's a great point. if you think about what's most in demand, we have seen an enormous surge over the last six months in kind of five areas

certainly project management, business analyst capabilities, just to unare and keep these projects going cloud information security, data and business intelligence, and then just verall, if you will, a sense of willing to do that on a repluto basis. anecdotally, request for remote work for today and the future is up over 300%, if you will, from our clients back to us >> very quickly, tedd, the stimulus act is actually a business part of your business as far as federal contractors. a lot of people may not have a job april 1st. >> i think that's right. you know, there's section 3610 of the c.a.r.e.s. act that runs out on march 31st. it was a way to keep talent available for our government clients. it's important to those tech workers and obviously important to us as we provide solutions

back to those government clients. ted hansen thank you for coming on to the program. talk with you soon. >> thank you, brian. take care. by the way, one more check on the markets as we head to break. "power lunch" coming up after the break. -- cyclicals from technology simply continues well, that's it for us today "power lunch" begins afterhe t break. we'll see you tomorrow take care. in the romo household we take things to the max oh yeah! honey, you still in bed? yep! bye! that's why we love skechers max cushioning footwear. they've maxed out the cushion for extreme comfort. it's like walking on clouds!

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that's healthier made easier. at cvs. good day, everybody. welcome to "power lunch. along with melissa lee, i'm tyler mathisen form here is the 2:00 p.m. takeout. rising rates wreaking havoc, tech the biggest victim. the nasdaq down more than 1% as it continues to move lower dow moving the other way we'll explore it all rising hates as lack of inventory and siring lumber costs could put more buyers on the sideline rockets, reddi