get the food you love with perks from- - [crowd] grubhub. good afternoon, everybody. i'm tyler mathisen welcome to "power lunch. big rally on wall street nasdaq snapping up more than 4% after falling more than 10% from its record high. is this a head fake or a real comeback speaking of comebacks, the consumer on fire more stimulus coming we'll speak to the president of north america at mastercard about whether online spending

will continue at its spree-like pace global spac deal volumes for 2021 surging already surpassing all of 2020 in just three months greycroft's here to discuss the boom and womenfunded spac. "power lunch" starts right now >> welcome to "power lunch." i'm frank holland. the big story today as tyler mentioned, the nasdaq comeback as the momentum stocks coming back with a vengeance. pairing some of the losses over the last few months and let's take a look at the big movers. of course, you have tesla. those tesla shares up about 20% right now. doc docusign and peloton up 14% and even with a double digit gain like today, tesla still down

from record highs. still down about 25% from those record highs something we have to continue to watch. it's currently right now adding 92 points to the ndx which would account for 17% of the tech-heavy index as gains and of course, as always, we're watching shares of gamestop up another 20% today the movement, gamestop continuing to go higher, gaining 100% in the last week as retail traders bet on the digital transformation under ryan cohen and bob pisani, what's the latest >> good to see you, frank. we're at the highs for the day but only 2 to 1 advance declining stocks because the reopening stocks, they're faltering today because tech ascended look at the sectors here two things matter. tech spacs, particularly, s

semiconductors back in a big way and then china both back both of these sectors, big corrections in the last month. at the same time, reopening banks, energy, they're faltering. again, healthy rotation for the markets. take a look at big cap tech. you see these off close to 20% from the 52 week highs as of yesterday, big bounce back today. mega cap tech stocks you see here facebook, apple, alphabet all on the upside here. the multiples for the stocks, the good news is they've all come down rather dramatically. the important thing here, you see the stocks, but they've all come down dramatically you're talking about facebook was 30 multiple forward earnings, 23 now apple trading at 32 times forward earnings, now it's 27 or so google, alphabet 35 or so and now at 29 a big, big move to the downside. these stocks are more attractive in the last day or so.

etfs having a big move and ark having one of the best days in a long time after a dramatic drop in the last few weeks. clean energy stocks, cloud computing, 3-d printing. all of these thematic tech etfs making a comeback. nothing but down the last month. reflation trade stocks, this is the reflation story. hess and all the oil groups down citigroup and the bank stocks down, restaurant and travel stocks to the downside and like simon property, generally to the downside tyler, the key is the 10 year yield. we've made several runs at 1.6% and over and it's failed every time now, that's really key the belief is that the japanese are going to come in and be big buyers of our bonds in the next few weeks. that's just the bet by the bulls right now. who knows if that will actually happen but as of now, not busting out towards the 2% staying close to the 1.5 and that's the key to the rally. >> the point from yesterday and

boy, bob, we'll have some bonds to sell, aren't we >> we're going to have an awful lot. we've got a brief one here the 10 year is not 30 year, 3 month for the first time in a long time, stock owners want to watch the bond auctions. >> thank you very much given today's big rebound for nasdaq, is the momentum comeback for real and is it safe to buy tech again manager of the global allocation fund, great to see you, russ what are you doing with technology in your portfolios? >> we're holding our weight. we have trimmed it back where you have a lower weight than we did three or four months ago ic i think one of the things worth considering about tech as we do, if you want to tilt your portfolio in a more cyclical direction, take advantage of what's likely to be huge growth in q2 and q3

higher cap x from companies. we know literal not semiconductors meet demand and then payment companies benefit from the reopening there are a number of places within tech that we've been shifting to take our exposure to more cyclical stance. >> that's an interesting point, you know, because obviously we tend to lump things together there's health care, and then there's technology but there are all kinds of subgroups in all groups whether it's energy and health care or tech. you mentioned semiconductors do you think semis are going to come back very strongly between now and let's say, year end? because of that supply demand, the imbalance? >> semiconductors are one of the things we like and it goes back to this intersection reasons to like semiconductors internet of things, the growth in cloud computing all of this demands more and better semiconductors. at the same time, they're increasingly in a lot of very common products. notably autos. if you have a view that the reopening trade is going to

continue, if we're going to see more mobility, more spending, semis are one of the parts of technology that had the cyclical component. it's one of the places within tech we've been favoring >> this is frank holland i want to dig deeper into the tech trade we see cyber security names. they're up big like z scaler, do you see that continuing even after the headlines of this microsoft excel hack, excuse me, outlook hack, go away, does that trend continue >> absolutely. in the portfolio, one of the things we had for some time now. and again, it's a longer term theme. and we hope we're going to see more reopening, many of us go back to the office, but things are going to be different. we know there's going to be more work from home we know there's going to be more remote that's going to require better cyber security if we think about places where companies are likely to increase their capital spending, cyber security is at the top of that list >> let's turn to what you said,

you've been trimming, still overweight in technology but had been trimming over the past few months where has some of that money that hasn't been put opportunistically in tech gone >> it's really gone into one of what i call cyclical expr expressions. housing, home related names, basic materials geared to a lot of those things. industrials. the last thing, more of a recent trend had been the financials. we had been taking up exposure to banks, both in the u.s. and in europe. that is partly a cyclical expression and also expression of the fact that we don't think rates are going to melt up to 3% or 4%. rates are likely to normalize. real rates are still deeply negative room for that to normalize if you think about what are the expressions to benefit from that, the banks are certainly one of them. >> cyclical echo prexpressions

it sounds like a kenny g. album. >> to know who kenny g. is. >> he's the alto sax guy thank you very much. great to see you, sir. >> good to see you switching gears to transports shares of boeing up nearly 4%. the dow gains. stock climbing after reporting its latest order numbers philip lebeau with the latest. hey, phil. >> the pop in the middle of the day after boeing reported first month with positive orders february, a month that they were hoping for success, they got it. they had positive 31 planes in terms of once you have quaorders versus cancellations, orders outpacing cancellations and the max is the story here. remember, for a long time, they were saying, we think there's going to be enthusiasm for the max. it seems to be slowly building in february. 39 orders, just 32

cancellations. they did deliver 18 as they chip away at the backlog of the planes that are built and part and ready to be delivered once they are upgraded and airlines are ready to take them deliveries overall, 22 in the month of february and the backlog now stands at 4,041 planes look at shares of boeing as you go back to november of 2019. against the dow, it's nowhere close. they've got a long ways to go to catch up but they'll take the improvement today with the stock up more than 4%. frank? >> i noticed you said only 32 cancellations. can you give us a sense of the perspective in those cancellations and do you see that trend of cancellations continue >> the type of airlines that cancelled among those 32 >> of everything >> definitely not many compared to, look, there were some months last year that boeing would report these numbers and you'd go, yikes. i mean, it was massive cancellations and few orders that started to change

we saw that with ryan air and then you saw alaska placing an order and then in february, part of the reason that the max outpaced orders cancellations is because united placed an order for 737 maxes. so that's what we're starting to see here are there some airlines around the world because of their financial state that they're like, you know what? we were on the books for some maxes and we're just not going to take as many? absolutely and that's going to be around for a while, but you are starting to see an increase in max interest and max orders. >> 737 max continues to be one of the biggest stories in aviation our philip lebeau with the latest we appreciate it coming up, we are all over this big market rally as the nasdaq has a 4% jump after three straight weeks of losses, we'll have more on what's driving the gains there at nasdaq. 500 points higher on nasdaq. plus, bitcoin, take a look rallying with the broader market topping a trillion dollar market value again and we'll talk to

the president of mastercard north america about its plans to cash in on the crypto space. watch the payment companies like mastercard "power lunch" returns next this is wealth. ♪ ♪ this is worth. that takes wealth. but this is worth. and that - that's actually worth more than you think. don't open that. wealth is important,

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welcome back, everybody. nasdaq on track for its best day, see if you can guess, since april after falling into correction territory where it did dip more than 10% from its

recent highs pumping the nasdaq higher. square, paypal both soaring after getting hit this month mastercard and visa both hitting all-time highs and those two names outperforming the fintech names over the past month, even with today's move, paypal and square down still about 15%. >> and tyler, speaking of mastercard, the company recently released data showing a spending surge in retail for february despite that dramatic weather and the lingering pandemic overall, retail sales rose nearly 5% year over year but e-commerce, that's the number to look at right here e-commerce exploding up more than 54% compared to 2020 and joining us to discuss is mastercard president of north america, linda kirkpatrick thank you so much for being here. >> thanks for having me. >> linda, eye popping number right there. 50% year over year increase in e-commerce spending in february. what does that data say to you and do you see this trend continuing as we look at reopening and also in general,

people kind of looking to spend some of that money they have saved up >> what we're seeing right now are consumers really embracing digital payments more rapidly than they've ever before you mentioned in february, u.s. retail sales grew almost 5% despite all the weather issues that plagued a lot of the country and online sales continue to be very strong 55% in february versus last year so we definitely have seen a shift in the way consumers are spending throughout the pandemic we've seen a rise in grocery we've seen an increase in furniture and furnishings because consumers are spending more time in their homes we're also seeing more people buy apparel online almost three quarters of all apparel purchases were made online in february and this is up from 47% just a year ago. within the stores themselves, we've seen a clear shift to contactless payments and that's really just a way to pay without actually having to touch

anything it's convenient but it also promotes good hygiene. and from our perspective, we've seen shift in digital happening for a long, long time, however, our mastercard economic institute estimates that in 2020, e-commerce aadapdaptation accelerated by about 2 years they've built a digital commerce muscle we believe is here to stay. >> a dramatic shift. today actually on the markets, we see companies like shopify and ebay up big showing the invest confidence that people continue to spend online how do you see stimulus checks impacting this >> yeah, we definitely saw volumes increase after the first two stimulus packages went into play we expect that to continue after this next stimulus package goes into effect. we believe that certainly debit products will have more relevance than ever before and

there's a lot of pent-up demand right now for spend. so as consumers receive their payments and as they, restrictions open up for travel, we believe that consumers will leverage their payments to get back to their lives. >> linda, i'm interested to hear more about contactless payments. i assume you mean use my card when i don't have to insert it into anything. i wave it over the reader or use my phone tell me which of these, because i use my card that day, it doesn't usually work but my phone usually does work. my question for you, after this big wind-up, here's the pitch. how do you make sure that mastercard is the number one payment method in my digital or telephone wallet so that it's not amex or visa or discover, it's you >> you're absolutely right contactless is the technology that allows you to wave your

card across the terminal, tap your card on a terminal or use a connected device to make a payment. from our perspective, mastercard has been working on building that contactless technology for decades. it's really, it took hold in markets like the uk and australia, canada and in the u.s., we started to really see it take hold in 2019 when banks started to issue products with contactless capability what the pandemic did is it actually accelerated the use of these products because people were not only concerned about safety and security and convenience, but they were also concerned about hygiene. so from our perspective, making sure that those products are leveraging the best technology on the market, making sure they're the most secure, this is something mastercard has been investing and focusing on for

many years. >> part of women's history month, i want to mention that mastercard started this initiative on helping black women owned businesses with jennifer hudson as your ambassador, very important commitment but first, crypto currency mastercard put out a statement about you accepting the wirex. will we see anytime soon >> our philosophy on crypto currency is about choice there's universal truths we believe people, think about payments in a few ways they want to choose a method that's right for them. they want it to be easy, safe and secure and these truths have been at the center of our strategy for many years. giving people choice in how they want to pay and be paid. so our work in the digital currency space builds on this foundation and we've actually been in the digital currency space for a long time. we filed our first crypto payments patent back in 2013 and

today, we at mastercard have the biggest patent portfolio in the payments industry. so what we're doing is we're working to enable native crypto transactions on our network later this year and we haven't made a decision about which currencies we're going to support, but we're evaluating them and we have some principles that are really important to us. the first, are they stable the less occurrence they fluctuate, the more relevant it is for everyday purchases and the connection to fiat currency, it will help that. the second is the currency in compliance with local regulations. does the government allow it as a medium of exchange, does it comply with aml, kyc sanctions and does it protect consumer data protect from fraud the way mastercard products do today if the answers to these questions is yes, we believe there is good.

>> i think a lot of crypto investors are trying to read the tea leaves there thank you very much. >> thank you very much for having me. still ahead, more on the big comeback rally in tech and momentum shares. check out tesla near the highs of the session best performer in the s&p 500 and march is women's history month. and we will spotlight some of our cnbc contributors. here is rbc's global head of commodity strategy on the women who inspire her. >> for me growing up, i was really inspired by these fearless female leaders who were the first women to lead their country. whether it be in india or in pakistan or in israel, these were the women who led their countries in challenging times they were not perfect leaders by any means, but they really were fearless, they had spines of steel and they were incredible inspirations for me growing up

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welcome back to s"power lunch. checking the markets, we see green across the board nasdaq up nearly 4%. that gamestop rally is back on,

up for a fifth day in a row. doubled in a week. the push to transform gamestop from a retailer to a tech company is the catalyst for this recent move. the solar etf tan son pace for best day in four months. solar edge, enphase and then jinkosolar look at makers, nio, li and xpeng and alibaba and baidu joining this party with big gains. ahead on "power lunch," the momentum rebound giving a bit of a lift to the spac 50 index down 12% in a month and only up 1% today. but it is up today and if you thought at this point everyone had a spac, you'd be wrong we'll talk to the backer of one of the only female run spacs about why there are so few women-led spacs.

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welcome back i'm rahel solomon and here's your cnbc covid update at this hour a new study appears to show that

pfizer's covid vaccine is able to neutralize the variants first identified in brazil and the uk. just as well as earlier versions, although for the south african variant while proextecto is robust, it's lower. cases down sharply in the u.s. but paris three month high that has icus reaching capacitywith hospitals cancelling some of the regular procedures to, of course, make space in michigan, people in homeless shelters now eligible for the covid vaccine. at the goodwill inn, those who sign up will get a gift card after the first dose and then $40 after their second shot. the vial used to administer the first authorized dose is going to the smithsonian along with the medical stcrubs and id badge. that happened in mid december of 2020 i remember watching, such an iconic moment in this pandemic

and we've come such a long way more to go but we've come a long way. >> i recognize that photo and that nurse just, you showed her right there. it's really fascinating under the smithsonian. how cool is that all right, rahel, thanks let's look at the markets right now. it is a rally kind of day. yesterday, we had a big rally in the industrials. today, yes, once again, record highs here up 0.8% participating today in a way it didn't yesterday up more than 2%. some of the technology companies coming back. the faangs showing their bite. nasdaq, look at that nearly 500 points higher or nearly 4%. what's holding back the dow? disney shares down about 3%. the company holding its shareholder event where bob iger confirmed he will step down from the company in december and disney topped 100 million global paid subscribers to disney plus.

it is those tech names doing the heavy lifting today. intel, apple they are leading the dow higher. look at them, up nearly 5% both with gains of more than 4% and more on the market leaders, let's get over to dominic chu, shall we >> let's continue the conversation with the intel side of things. semiconductors, specifically, have been a huge focal point for many investors out there and traders as well for the better part of the year plus now considered by many a leading indicator for the overall market the etf is one of the bigger etfs to attract chip stocks out there. to put in context, up 89% over the last year but the drawdown we saw from record highs to where we are right now is roughly 14% at the lows. you can see here the pullback is one where some traders step in to buy the places where they are buy, check out these names. these are four of the biggest semiconductor stocks nvidia up 8% intel up 5%.

5.5% gains and then 6% as well the chip check, very positive so far today. would you believe it if i told you, gentlemen, you would have been better off over the last year owning oil and gas stocks over chip stocks take a look at this. s&p 500 oil and gas exploration etf, xlp up a whopping 167% in the last 12 months meanwhile, that very growthy chip sector up a respectable 89%. so watch the oil and gas trade and speaking of that, check out what's happening today with the intraday action for oil and gas. wti crude down 1.5%. 64.15 and energy stocks taking a breather shares off one-third of 1% with big oil. frank, that's your market rundown. i'll send things back over to you. >> we appreciate the energy and tech check now we want to turn things over to tyler >> as the momentum trade picks up steam, at least today, the cnbc spac 50 index which tracks

that group is higher about 1%. of course, it's sold off over the past month the spac wave continuing its record setting year according to data from refinitive blank check deal, passed $170 billion this year already outpacing the $157 billion total volume last year our next guest is getting in on the spac wave but joining the fray as one of the only women-backed and women-funded spacs. dana settle is a co-founder and partner at greycroft, recently announced a spac deal with the entrepreneur katherine power focused on acquiring $800 million to $1.5 billion in assets in the beauty industry. dana settle, welcome good to see you. >> great, thank you, tyler nice to see you. >> delighted to have you with uus and want to get spac in the beauty industry and so forth but spacs have been controversial. i suppose.

they have taken their share of hits in the press, but tell me why spacs are a good thing why do they benefit the market, individual investor, whom do they disintermediate and why are they good? >> we really see spacs as being a great new tool sort of in the investing kit and we don't see it as necessarily an exit. we see it as a financing round, essentially. and what is great is it actually provides access to the public markets and a lot of retail investors to companies that will, in many cases, experience much higher growth because they're coming out earlier than they may otherwise have. >> they're coppming out earlier and i guess you make the case there would be relatively more money to be made than by the retail investors than traditionally might have been

made by vcs and investor bankers. i got that right, kind of? >> certainly, and in the case that we are looking at, we're looking at beauty brands that are earlier in the life cycle, where there's significant growth ahead of them. and that's something that historically has not been possible. >> i want to turn then to the beauty brands and you raise more money than you initially expected, am i right on that >> that's right. >> raised $1.5 billion and you're going to haafter the beay brands not owned by the major conglomerates that exist on their own. they are sustainable brands. i think of my nearby neighbor bobby brown who has come out with a new brand she would be a candidate, i assume, for your portfolio you'll buy strategically and put together, i assume, a portfolio

of these brands. >> that's right, that's right. we look at putting together portfolio brands that have sort of the same values, that are starting from the place of really building sustainable supply chains and eliminating waste and that have really natural ingredients and, you know, frankly are taking into things like diversity, equity and inclusion from the beginning. and we really see this as being driven and demanded by the consumer >> hey, dana it's frank holland here. we look at some of the beauty stocks performance this year, doing very well this year-to-date i want to ask you about the companies you're acquiring how important is esg to the companies you're acquiring or planning to acquire and how important do you think it will be for the people who are going to invest in your company? do you have a target investor? >> we think it's very important for these companies. again, the modern consumer is really demanding and they're looking all the way through from

the ingredients in the products that they're using through to the investors backing the companies all the way through. we're seeing this as being a big part of our strategy and the big reason i partnered with katherine power who is an incredible entrepreneur in the space and spends all of her time really focused on this millennial and gen z consumer and that's what's really driving the need for change and we see it as being a huge opportunity to create a new entity to address the consumer demands. >> let's talk about one of the very interesting things about this spac is that it is women-founded and women-funded, which makes it very different from most spacs out there. i think we can all probably presume we have some understanding of why there have been so few femalevc players,

so few female spacs but how do you bootstrap a movement like this and not only get other women to do what you've done, but to get females to fund and how did you do that? how do you recoop your funders so you can legitimately say this is a female-funded enterprise? >> yeah, so powered brands is female-funded. katherine and i and greycroft, co-founder and managing partner with greycroft have funded the business so far and sponsor of capital and then we raise the spac from investors and long-term investors. some of whom are women, the majority of whom are not but we are, you know, in every step of the process, we've asked the question, are there female investors, are there diverse investors that we can bring in and on to our table and we'll

continue to do that along the way. the other thing, an important point as it relates to spacs is i think this is a real opportunity to bring more women intosort of a financial produc because mckenzie released the study that said that spacs that are performed by operators perform better in the after market so there are incredible that are getting into the market joanna coles and betsy, joanne bradford and i think the more that we're getting great operators involved with spacs, we'll have more women that do jump into this market and it will help to accelerate the trend of women and other diverse executives >> it's a fascinating area and congratulations for your

involvement in so just to be clear, when you say women-funded, you and your partner were sort of the lead funders here, but not every single dollar that you have raised has come from a female. number one, that would probably be illegal but am i right? >> yeah, no. that's right we've raised money from institutions in our spac we are equal opportunists as far as our investors and trying to bring more female investors into the fray. >> dana, thank you so much i hope we can coax you back some time when you have more to tell. thank you so much. >> thank you for having me turning attention back to the markets. the reversal, reversing again today. look at the bank etf up 12% over the last month on the other hand, momentum etf is down 10% in the month but rising today is it safe to jump back on that

momentum train our traders will discuss that next stay with us

welcome back to "power lunch. i'm seema mody after interesting a correction, the nasdaq is rebounding led by a number of momentum stocks today, names like tesla, square, twilio and momentum etf gains more than 5% is there more to the story let's bring in trading nation team, todd gordon and then john of asset management. john, how would you describe today's rebound especially as more strategists say value is the best place to park your cash >> i think it's a really very

healthy rebound and momentum stocks here. what i mean by that is 2020, it was growth, tech and momentum that led the markets from november on, it's been reversal into value, dividends and qualities and because the s&p 500, by this rotation in and out between value, you're having a horizontal construction of the market, broadening out which is an overall bullish sign for stocks in the long-term. to me, this is a very healthy reversal we're having here >> you've got your eye on shares of tesla big 2020 but really getting crushed here in 2021 and now 18%, where does it go from here? >> yeah, to john's point, technology have set themselves so far ahead gains like 1700% in less than two years. saw a 39% decline, seems nasty but position sizing is so important in these highly volatile names i hold the stock i hold it in our growth

portfolio. revenue is about $31.5 billion this year. going to be 48 of projections next year. earnings expected to grow by half and kathy was just talking about the possible link with sp spacex, if elon can link the fleet of cars with the taxi service. i think that's why they trade with high pe >> todd and john, thank you. another big mover today, peloton. we dig into that stock on tradingnation.cnbc.com tyler and frank, we don't just talk about our favorite instructor, we promise >> we appreciate it. i don't have a favorite instructor you have to school me on that. big rally on wall street today. the dow with some modest gains but good enough for an all-time high the nasdaq up 4% today but still about a thousand points from its record we're also watching a rally in the cyber security stocks. continuing higher as the u.s.

gets set to respond to another massive cyber attack much more on that coming up on "power lunch." >> and now, the latest from tradingnation.cnbc.com and a word from our sponsor. >> volatility spikes are notoriously difficult to forecast, but when they do occur, they tend to be relatively short-lived rather than try to predictthe next, consider positioning your portfolio for when volatility n.mes back dow i'm joanna payne and schwab is the better place for traders

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welcome back to "power lunch. signer security stocks soaring with the rest of the market. and the hack on microsoft is only growing in scale. former nsa hacker david kennedy telling us yesterday just how big this attack really is. >> this is a huge hack this is probably one of the largest hacks that i have seen in over 15 years, just the breadth and the scope of what we are seeing from the chinese group that we are seeing in this specific case. what is interesting about this is that 30,000 right now is just the low end estimate we fully expect that number to substantially grow worldwide we are talk hundreds of thousands. our teams are working nonestop

to battle this this is one of the largest hacks we have seen we are still trying to assess the full extent and damage and what the objectives were from the chinese on why they are doing this we don't need this overaction going over hundreds of thousands of potential companies this comes in the wake the solar winds attack how do companies roekt themselves is sidebarer the next big risk let's bring in sue gordon. thanks for being here. >> goode good afternoon. >> a lot to unpack here. i think the big question is could a hack like this one on microsoft or the solar winds hack could that cause the market to crash or doing in else to up end the markets? >> they are big hacks. they are hacks by incredibly well-resourced cyber actors. and coming so close together, both being brazen in a way -- i think they are significant, but

so far -- and you see it today in the rebounding, we are managing it. the cyber security community rallies pretty quickly we are getting better at sharing information. but brian is exactly right this. one is huge because it is so indiscriminate and so many people use -- business use that microsoft exchange so it's big, but it feels like we are able to rally our security resources to help companies respond. >> you are saying this one is big. but we all thought the solar winds one was big. how do the two compare >> they are different. the solar winds hack seems to be -- to have been targeted on a specific target set, government institutions, and they did their research, they knew who used their products and it seems to have been specific this.

one is much more general microsoft exchange is widely used by all sorts of companies and it's almost as though the attack is going after a broad swath of targets almost going into email asks saying, well, what can we find in other words, i am going to get in and find a target rather than the solar win was more targeted, it seems. >> sue, i know we try and play defense in these situations. >> yeah. >> but i have to assume that the united states is playing some sort of offense as well? >> we do we have got a great offensive game but where we differ -- and this is i think a really interesting conversation for the biden administration and friends and allies and partners to have is there is a difference in terms of how indiscriminate, how widespread the economic impact this is causing and how many for

want of a better term civilian entities are being affected and what it is doing so, yes, we have got a good offensive game, but it is a different mindset that we are seeing in these actors in terms of just how wide they are and how it seems up concerned about unintended casualties. >> we know this is huge and the ramifications are still not understood how can companies respond this the near term? do people need to ramp up their capex tending on i.t. hardware did you need the bring in a larger i.t. staff to address this or is this a combination of the two? >> i think it is a combination of the two right now what everyone is doing and they are look at their own environment and seeing whether they have got the affected systems and then working hard to patch them luckily, the patches are out there. but patching is only the beginning of the problem i think they have to double down

in terms of understanding their environment making sure that they are serious about the kinds of security you need, zero trust systems, multifactor authentication might want to bring in some cyber expertise. but they are also going to have to invest in their own talent. because the truth is -- and what is so problematic about this latest one is it's in individual companies and individual servers, not those connected to the cloud. so if you don't see it, it's hard to be seen by any sort of company. so a combination invest in your infrastructure, bring some expertise. and for yourself, hire talent that can really understand your network. >> cyber security stocks trading higher today sue gordon, thank you for insight. we appreciate it. a big rally for the nasdaq today, up 4% reclaiming positive territory for the year all the big players are rising today, amazon, google, microf wwi he ren ost,e llavmo o

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let's take a look at the markets. it has been an interesting first quarter of 2021. there are the industrials, above 32,000 look at nasdaq, up 4% today. that puts it on track earlier today for its best day since last april, frank. and i think what we have to be aware of, as we get to that march 23rd low in the markets,

we are going to all start looking back at the one-year performance of stocks, how has it done in the last -- well, you are going to see numbers that will going to blow your mind away but remember the base on which you werity starting. >> tesla shares up 18% 26% off its 5 -week high you mentioned the one year performance, up 442% over the last year. >> good to be with you "closing bell" starts right to you is this welcome to the "closing bell," everyone, i'm wilfred frost along with sara eisen. green across all the screens on wall street today. it's a big day for tech. excuse me. the nasdaq seeing a huge bounce after dipping into correction territory yesterday. currently up a staggering 4% as we head into the close lets look at what's driving the action treasury stocks coming off their highs. tesla, and