good afternoon welcome to "power lunch" along with frank holland, i'm tier

mathisen a rally on wall street but a reversal of what we saw yesterday. the dow up 400 points and the nasdaq is lagging behind there you see it, nasdaq just ever so slightly in the negative that's even as yields are retreating the ten-year yields near the low of the session we'll have more on that. the video game platform roblox started trading in the past hour. the stock jumping above its direct listing price of $45. we'll talk to an early investor about that video game phenomenon as "power lunch" starts right now. welcome to "power lunch" i'm frank holland. markets seemingly hanging on every move in interest rates and yields are retreating. tech stocks are still sitting out the rally today. bob pisani has much more on the markets. >> frank, the stock traders who

have been obsessing all week about bond yields got exactly what they want from the ten-year auction today. it was fairly boring not that interesting yields were fairly stable and the bottom line was that's what the market wanted. you can see the s&p 500 intraday, nothing here midday. it has not reacted at all. that's good news that's exactly what you want for the markets, at least for the moment where are we on this obsession with the bond yields we have had tame cpi today and now a tame ten-year auction. the longer-term question is whether or not inflation is overhyped. a lot of the bulls come out and say the commodities run up, we've seen it is used as an excuse for influx. it happened because we had bottlenecks. that should ease later this year we'll have a 30-year auction tomorrow, if that's okay, some traders obsessing about bond yields running the stock market will have run out of things to worry about. we have the reflation trade, that's going fine.

that's not dropping much at all. you can see most of these stocks associated with flying today chevron oil stocks, freeport, but this group is unloved. most people are not obsessed about owning oil stocks or airline stocks they want to own tech stocks for them that's what matters you can see today, tech is flat to down. most of these tech names are much more attractive on a pe basis. apple is at 27 times forward. so is alphabet as well these numbers are much more attractive the question is whether it will draw people back in. but for sure it's making people more comfortable with the tech trade possibly coming back by the way, keep an eye on the s&p 500. 3, 3,934 was the old closing high, that was before the big rate runup happening.

before yields started popping. right now stability is a good thing. let's see if we can get that 30-year behind us tomorrow >> thank you very much another big rally on wall street today but with tech stocks kind of underperforming after yesterday's big move up, even with yields staying roughly where they are, is it a sign that there could be more trouble to come in this sector joining us are ann moletti from wells fargo and jim broderman, 1879 advisers vice chairman. welcome. let me start with both of you and then we'll narrow in on the areas where you agree. ann, more or less, is the market -- equity market acting logically and sensibly right now? >> it's acting with more volatility than investors probably love. there's some logic to it you're seeing the value in small cap stocks start to rally as the

recovery -- economic recovery has taken hold the expectation is it's going to be even stronger than we expected with this new stimulus in place but i also think it's responding to the secular changes the secular changes we've seen over the past year and how fast innovation really has -- innovation has really become a factor in all of our lives >> let's follow up there, jim. the worry for the tech sector broadly has been rising interest rates, but in recent days interest rates seem to have hit a kind of equilibrium. they're not doing this anymore is that good news for tech stocks what is your thought about interest rates >> i think there are multiple edges to that sword. the first question about interest rates is why are they going up are they going up because there's a credible risk of inflation? we think not

are they going up because the economy is healing and interest rates were substantially low with the flight to quality that the whole pandemic brought on? so some return to normalcy of the yield curve is certainly expected and i think the target for ten-year is in our book probably 2%, 2.25%. we don't think it will get there overnight but by the end of the year that's a reasonable place for it to be because interest rates are going up, that by no means means we think inflation is a fear. quite the opposite while we see interest rates going up and we can expect that rational investors will take this as an opportunity to rebalance especially if interest rates have gone up quickly and that could take a little bit of wind out of the sails of equities, but quite frankly given the route or the pain we've seen in tech stocks and the valuations, that -- in my opinion that's somewhat bullish for the sector

if they're long-term great companies, you want to own over long-term cycles >> i want to follow up on some things jim is saying today we saw the consumer price index come in as expected. bond yields are down 70 basis points from their high earlier this week. are the inflation fears overblown or is there another event or another data point that you think could reignite those concerns >> i think it's going to be a concern for investors this whole year and as we start into the later part of the year it's going to become more concerning as we look out the reason for that primarily is -- i'm not an exist, but when you look at the economist forecasts where you see nominal growth of 10%, real growth of 10% or more, that's very high numbers. numbers we have not seen -- i have not seen in my career, certainly some of us have not seen in our lifetimes.

that's going to cause an inflection that will do, you know -- could potentially cause inflation. we're seeing it in pockets our teams are looking at it very, very closely i don't think it's a near-term threat to the market that's what the bond market seems to be saying as well our investors are cautiously focused on it. >> jim, ann is cautiously concerned about overstimulation and inflation that could follow but you're not why? >> i wouldn't say we're not concerned. we're certainly keeping an eye on it. from a pragmatic standpoint i can agree strongly with ann. the where we differ, i would say, is that we think that it ultimately turns out not to be a concern. we think it's going to be on investors minds, we certainly think the amount of spending is a little bit excessive it's certainly more than we need, especially on a gdp basis

to keep the economy going, from a secular basis there's enough -- there's enough reasons, enough actors to keeping a lid on inflation that we think the -- we think the fear passes in the night >> i don't mean to put words in your mouth, but you're concerned but not really concerned >> exactly we think that it's going to be on the minds of markets, we think it will drive the behavior of market participants but we don't think it's anything significant to react to. that's not to say if the government gets really overly enthusiastic in printing money that it couldn't be a problem, but we do think that -- we do think that based on the amount of spending, especially in the 1$1.9 trillion bill or stimulus we do think that it's not enough to tip the scales in favor of runaway inflation. >> let me go to both of you and ask for a quick answer yes or no ann, you fist anrst and then jim

is the 1$1.9 trillion package needed right now or not? yes or no? >> no. >> jim >> no. >> it's overkill in your view. >> yes >> yes thank you very much. appreciate it. frank? >> easy segue here the house of representatives is set to pass that 1$1.9 trillion covid relief bill this afternoon. president biden is expected to sign it this week leading to a lot of questions about his next policy priority. the before we get to that, we'll turn to elan mooy. >> it appears the house just passed president trump's 1$1.9 trillion covid relief package. only one democrat voted against it no republicans voted for it. the bill is headed to the

president's desk for his signature. the white house says that will happen on friday democrats say that the american rescue plan provides broad relief that they hope will stimulate the economy after a year of pandemic-induced pain. some of the specific sectors getting dedicated funding include 2$28.6 billion for the restaurant industry, airlines getting another $15 billion. 7.25 billion to expand the payroll protection program, 1.7 billion for amtrak and easier rules for the live entertainment venues to access their aid the business community has been largely behind this package. there was push back around the size of the direct benefits to individuals, but overall corporate america argues the money for public health and small business made it essential that this bill become law. back to you. >> elan, thank you very much any sense of how this might impact other priorities for the biden administration >> once the president signs

this, they can then move on to the next topic which we expect to be infrastructure what exactly is included in an infrastructure package, that's part of the conversations that democrats are having at this moment but certainly the administration wants to take some time to make sure that the public is aware of what exactly is going into this $2 trillion bill to sell that to the public, make sure that the broad support in the public polls we see right now continues. they want to use that political capital to make their case for the recovery and investment packages as they've been calling it that will be next up on the hill so we'll be looking to see where they land on what counts as infrastructure and what might make it into the next package. >> looking ahead there appreciate it. for what stimulus means and what is next on the democrat's agenda, brian gardner is here. you heard that report, 1$1.9

trillion stimulus bill just passed what's your reaction >> it's not a surprise i have to be honest, a couple months ago after the georgia elections i did think the package would be smaller i think the main takeaway is house disciplined and united democrats were in passing this and doing it quickly they've shown an incredible amount of unity. i think that has lessons going forward for what the rest of the agenda might look like >> focus on stimulus spending, once people get those checks on wall street. but there's another concern about taxes. we want to get to that here. now that the stimulus bill is passed, what's next? could a tax increase for individuals or companies be up next >> the infrastructure bill was mentioned, i think the next two top priorities are infrastructure and tax bill. and there are lots of decisions to be made about what comes first, what they look like t those are the two next top priorities for the tax bill i think

overseeing more and more agreement and coming together in democratic circles around a tax hike i think chances of a tax hike are growing. it's not a slam dunk, but certainly the odds of a tax hike are increasing >> brian, let me turn to -- i want to get in touch with my inner wonk for a moment. as i understand it, this bill that just passed the house, repassed the house, went under what are known as budget reconciliation rules under which it takes only a simple majority to pass. will those next two priorities, infrastructure and a tax hike operate under the same rules of the road or could they be filibustered >> so i think all of your viewers at this point, their eyes are glazing over as we talk about procedure and process but this stuff is important.

this dictates how legislation moves and what policy will look like it's important for infrastructure, it's possible to do it in regular order without reconciliation i don't see a pathway for the tax bill to go via regular order. it has to go reconciliation. republicans may be fractured right now, it's been covered widely in various corners. but there's one principle that still unites republicans, and that is opposition to tax hikes. so i can't see where there are republican votes to go along and get 60 votes in the senate for a big tax hike the tax hike is going to be in reconciliation how that fits in with the infrastructure bill, these are important questions. the democrats only have very narrow majorities. 50/50 in the senate. a lot of people overlook the house. nancy pelosi, when the house is at full strength, nancy pelosi will only be able to lose four

votes. that's a tough task to keep 222 members all on the same page >> and this vote that just took place in the house, 100% of the gop voted against it and all but one democrat voted for it in the senate we know it was 50/49 with a solid democratic front against a solid gop front. brian gardner, thanks. >> thank you coming up, we'll have more on the market rally. the dow up nearly 500. that's after giving up a big rally yesterday into the close will today's gains hold? and share of pot stock green thumb up 120% in the past six months on the hopes of legalization in the united states now the company is making a big push into california aer qckreinreen thumb will jo usft aui bak

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welcome back to "power lunch. marijuana stocks have taken off as it's now legal in 13 u.s. states with senate majority leader chuck schumer pushing decriminalization at the federal level this year. canada legalized adult recreational use back in 2018. but the size of a fully u.s. legal market would dwarf that. green thumb is one of those u.s.

operators who announced today their first retail store in california will open as one of the few u.s. operating companies poised to capitalize on a wave of legalization here in the u.s. joining me now is benjamin kovler, ceo of green thumb you are entering the california market often described as the largest cannabis market in the world yet your shares are down >> this is a long-term game. today's stock price it an opportunity for the buyers setting the stage, we are a u.s. operator in the cannabis/marijuana business. we operate around the country with branded consumer products that contain cannabis as well as retail stores around the country. >> so obviously cannabis is your core business. the flower is especially your core business, you're branching

out in products. let's talk about legalization. is it your point of view that legalization will come this year or sometime in the future? will it definitely come during the biden administration in your mind >> we're not focused on that what we're focused on is the consumer across america is choosing cannabis for well-being for various reasons and use cases, sleep, pain, social, social lubricant, stress, anxiety. what's happening in the state level, we'll get to the federal in a minute, but this is a classic american story states versus federal. what's happening at the state level is governors and legislators across the country and in particular governor wolf, governor lamont, governor murphy, governor cuomo are banging the table for jobs and tax revenue through legal cannabis markets in the u.s. we believe the federal government, which is part of your question, it is legal in illinois where i'm sitting today but not federally legal, the federal government is a laggard.

they do not move fast, they're not a forward indicator, but that's okay. that's our system. we're comfortable operating legally under state regulated governments where the governor has signed, state legislators are on board and we're producing massive amounts of jobs, tax revenue and well-being for the citizens in those states >> you mentioned people are choosing cannabis but choosing it in different ways i want to talk about your thc infused sparkling beverage do you see it as a competition for a hard seltzer or a beer or is it just an alternative? >> this is an alcohol substitute that's better for you with no hangover we think customers and consumers across the country should experience social tonic. we think can is an awesome brand that can speak to consumers.

it can offer an alternative. that's what this is about. america is about choice. so we're bringing that but to your questions about tomform factors, people are branching out away from customary flower flower, baggy that many of us may have seen when we're younger, is similar to bathtub gin and moon shine weed in a baggy will become can, dog walkers, this is a brand, a consumer product and this is happening in america around the country people are looking to america on what to do on cannabis and they're following our brands it's an honorable spot to be sitting in as we lead that consumers are branching away from smoking to experience cannabis in many forms let me ask you about -- just seeing some of the packaging there that looked like candy

the idea of seltzers that are infused with an intoxicant lots of parents including this one who has a son who has fought drug addiction over the years are concerned about the idea that we're bringing yet another intoxicant to market and justifying it in a variety of ways just as you have. what is your position on how you are going to keep these intoxicants out of the hands of people under 21? >> yeah. great question very real point. we think a couple things we think education is key. we think government regulation can only do so much. demand finds the supply. we can offer safe product that's tested and known so the cannabis market in the united states will be 21 and over must have i.d., like alcohol

does not mean alcohol is perfect for high school kids, but it's easier to get a bag of weed in the local market than it is beer if you're in high school all the product is tested, that's how i would answer that the other key piece of education here is there's an opioid epidemic sweeping across the country killing people because they get addicted to pharmaceuticals prescribed by their doctor for pain relief, post-surgery, cannabis is an exit drug from those sorts of addictions not an entry gateway drug as has been talked about. >> i don't know about that i don't know about that. that doesn't feel right to me at all, benjamin. i'm sorry. >> sometimes new facts are hard. we think education is the key. that's okay. but across the country in states where there's legal cannabis, you're seeing less opioid deaths there's a correlation in the data, we believe strongly in math and in data we think that data will tell an

interesting story. >> would love to see the data. >> we'll be back for it. >> shares of green thumb up 8% during the time we talked to you. coming up, we're watching shares of the video game platform roblox. they just started trading in the last hour. we'll speak to an adviser to the board and an early investor, g graylock's david zee and gamestop soaring before plunging, it could soar again. we'll have the retail acti repor nc aer this.

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. welcome back to "power lunch. a quick check on the dow the highs of the day, up more than 515 points. and another wild day for gamestop right now the stock is slightly lower. but the low of the day is at 172. the high is at 348 let's go to dom chu for more on this >> that's the range. you can see here the move there in some of those names has been higher but look at this gamestop is just down about 3% right now. overall let's look at the move again.

halted seven times halted for trading seven times during the course of the d coss corp was halted three times. koss was up 51%. it was up way more than that today. express is up 25% as well. look at the movement in some of the stuff we've seen so far. that intraday action has been wide with the seven trading halts just for gamestop alone. a massive trading range today. just about the unchanged line right now. if you look then at the way we've seen this play out on a year-to-date basis remember at highs that we saw during the peak roller coaster earlier this year. on a closing basis this stock was worth roughly 2$24.5 billio. it was worth here before the volatility about 1$1.5 billion today right now at current levels we're talking about just around maybe $20 billion here

overall. keep an eye on this particular move gamestop, just trading continues. we'll see what happens there as the afternoon plays on >> i think it's hard to look away from gamestop at this point. appreciate it. ahead on "power lunch," roblox making its big splash and its market debut, can the video game platform keep the momentum going in a post-pandemic world from new economy to old. the remaking of ge continues we'll tell you what the ceo said that has investorselng t slihe stock. more "power lunch" coming up next they said it couldn't be done... but you managed to pack a record 1.1 trillion transistors into this chip. whoo! yeah! oh, hi. i invested in invesco qqq.

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welcome back here's your cnbc covid update at this hour. roughly 30 minutes from now, president biden will meet in the white house with the chief executives of johnson & johnson and merck to highlight their product partnership. he's expected to discuss the administration plans to buy another 100 million doses of the j&j vaccine to be used in the second half of this year. almost 96 million covid vaccine doses have been administered with 62 million people getting at least one dose and 33 million fully vaccinated. the head of the cdc says that the country is on the cusp of

having enough vaccine to protect every adult but says that americans cannot ease up on what she's calling a critical point in the pandemic. >> we ask for your patients in practicing proven prevention measures for just a little while longer we ask for your participation by rolling up your sleeve when it's your turn to be vaccinated and we ask for your leadership in helping others do both of the same with the above actions we are so very close, we can turn the tide on this pandemic and the director of the pan american health organization says the group is concerned about rising cases in brazil many of them are blaimed on tha aggressive variant identified there. the seven-day case average is now above the u.s. average you're up to date. >> when you look at that image that you just showed there of those empty graves awaiting

bodies, it -- one picture worth a thousand words >> so somber >> very sad. let's turn to the markets right now which are telling a bit of a kinder story i suppose. the dow is at the high of the session, all-time highs actually there you go 32,534 up 1.23% in light of the passage moments ago of the 1$1.9 trillio rescue bill through the house. it will go to the president for signature later this week. the s&p 500 is higher by 0.8%. nasdaq is flat after yesterday's gains. the russell up nearly 2% yields are lower after the ten-year auction notes came out at the top of the last hour. and rick santelli can critique it for us from the cme hi, rick >> hi, tyler there's been two major events today that didn't turn out to be very major but were major

influences on the up move you're seeing on equities the vfirst is the cpi number tht was not far from expectations, which is the point many are nervous that it be much higher than expected and with regard to the auction i gave it a c minus, it wasn't a good auction considering 13-month high yields you would think that would bring loads of buyers. yields started to drop long before the auction ended and if you go to the charts through last friday, four sessions, the high yield close there at 1.59. the spra dintraday spikes on fr. everybody is talking about who the big buyers are of our treasuries or who will be. japan keeps coming up. look at this year-to-date chart of the dollar versus the yen

the best levels of the year. it goes back eight months. very quickly the japanese may have been that big direc bidder -- an indirect bidder that was the best part of the auction. they own 1.25 trillion of our 7 trillion outstanding government securities frank? >> we appreciate it. turning back to the markets. roblox listing on the nyse today. the stock opening just a short time ago the price now at $71.14 a share. that's a 58% increase from its open let's bring in leslie picker for much more. >> frank, that's right market meet the metaverse. roblox built a $40 billion business off the metaverse that largely means gaming. roblox users generate the content and share revenue with the company through a freemium

model. >> on the monetization, it's free for most people but people who want to and who are interested can use our virtual economy. that virtual economy has been scaling with our user and engagement growth. >> roblox a huge beneficiary of kids being stuck at home during the pandemic the company saw users surge 85% in 2020. that helped grow the top line to nearly $1 billion last year the big question for skept ticss what happens once the pandemic ends and kids can resume an in-person social life and go back to school roblox switched to a direct listing from a trump administ traditional ipo they opened at 64.50, now trading at 71.07 up about 10% from that opening trade. guys >> thank you very much for more on roblox's big debut,

our next guest is an early roblox investor. an observer on the board of roblox and led roblox growth round in 2018. let's bring in david sze from greylock this debut is going nicely i assume you or greylock are still sizable investors? >> this is the next step in the journey of roblox. we've been excited to be investors for a number of years. we watched this journey. and i'm glad to see the public is now going to be able to be a part of it. >> so where does this company go from here? what is the ambition i guess what it is i want to know what it's going to become. >> yeah. i think the vision to its credit that dave has had from the beginning is that roblox should be able to take the essence of

human interaction both social and enjoyment and play and entertainment and games and build on that in a virtual space such that you can realize the idea of the metaverse that was first thought of many years ago by science fiction writers, where it's a shared space where people can share all sorts of things gaming has always been a part of the human experience i think it grows beyond that we have seen with the concert. we had 30 million concurrent users at the time of that concert. the amount of live venues people would have to go to to aggregate up 30 million viewers, it gives you a piece of what that vector can go on to with gaming and entertainment. we've seen over the pandemic people use it for virtual classrooms or fund-raisers >> so it's a platform for more than just gaming it could be a platform for

really anything. live events, lectures, schools, performance and so forth so that's the ultimate -- so it would be convenient to say roblox is going to be netflix of games. it could be the app store of apps, but it is different than that, isn't it >> yeah. i think that's part of what it is but again, another part of the vision was it should be a platform it should inspire creators we have over 80 million and growing to create the experiences that our users want. we shouldn't decide what those are. roblox shouldn't decide. it should create the environment, give the tools, have the cloud services to allow that creativity to be unleashed and see where it goes. i think we're really only in the early stages of that they have the opportunity to be the first company to be a pure platform company to realize that vision >> your platform is gaining popu popularity i know people on generation x and generation hashtag are on

here buying games, selling things where do you go from here? do you believe roblox has the ability to create an ecosystem like an apple has where it's not the products or services, it's being part of that community or to a different extent as cash a app has or where this will be a place where people will get on early on, dare i say it like facebook and then they move on >> the beauty of being a platform -- i'll use the analogy for games now, roblox doesn't decide what it is. if you're on electronic arts or activision, you have to hire huge development teams and you hope those play out almost like a movie studio roblox allows the community of creators and users and that market interaction to decide what's great as they provide the tools, we'll see all kinds of new things develop. roblox doesn't have to decide what those are

it lets the community decide it has a lot more diversity of potential. >> one more final and quick question i will need a quick answer what is the competitive threat what is the mote that roblox has to prevent microsoft or facebook or any of a number of others to come in and do -- provide the platform that roblox has >> i think they've got years of investment, understanding how to build this co-experience years of time to create the collection of connecting people, and also to build the platforms that allows them to build experiences. i think that is a lot harder, and they are becoming the place. we're seeing a lot of cycles being created. >> david, thank you very much. we appreciate your time today. david sze of greylock. >> thank you. coming up, the seemingly never-ending remake of general electric continuing today. the company announcing a $30 billion deal and proposing a

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welcome back to "power lunch. general electric merging its aircraft leasing unit with aercap in a $30 billion deal here's what larry culp told cnbc earlier today. >> ge shareholders should be delighted with this transaction. with a $30 billion headline, what we're able to do here is bring cash in, again, 24 of cash, a billion of additional consideration, which will allow us to put that towards additional debt reduction. >> this is one of the steps culp has taken to reduce the debt on ge's balance sheet and turn around the industrial giant. the stock has rebounded more than 140% from last year's low the trading nation team join me. the stock has been on a tear over the past quarter, michael, how would you characterize the

selloff in the stock today is it sort of sell the news? >> i think it is a little bit sell the news. when you think about it, culp and his predecessor, mr. flannery, have done a great job in restructuring they had four tasks, they're shedding assets, paying down debt, focusing on their core businesses and they're getting their underfunded pension fund healthy. i think as ge gets smaller, the market will like it more and more but with that said, you know, the stock has doubled off the bottom they just did give eps guidance, that was slightly below consensus forecast and look the aviation industry is a long way from being fully recovered. so when you think about it, being cash flow positive is good focusing on core businesses is good, getting down to a target ebita to debt level is good. after the stock doubled we would not be buyers here we would wait for lower prices before we stepped in >> quint, confidence seems to be building in culp's strategy, but

you're not a believer yet. tell us why. >> yeah. i just think there's too many other options out there. we have so many great opportunities to invest capital. i don't think a business that is in a turnaround environment where they're shedding off assets, where the market is the voting today and casting a vote they don't necessarily like this deal and it seems to me that general electric keeps shedding businesses albeit with good intention to shore up the balance sheet but they're doing it in sectors and environments that are finally turning around. we are seeing energy turn-around, aircraft coming out of covid and the quarantine and people are going to be traveling and so they're selling businesses that i think they could be benefiting from now again, they are doing it with justification shoring up the balance sheet but i just don't think there's, you know, it is worthy of capital here there are too many other options even though it looks cheap among

a variety of metrics i think investors need to steer clear. >> fair point though it has been doubling down on the renewable strategy we'll leave the conversation there. thank you. apple also lower today head over to trading nation.cnbc.com where we take a deep dive on the megacap stock tyler, back to you. >> seema, thanks tesla shares taking a breather up next a special report on what is keeping tesla ahead of the rest of its ev rivals. check out bitcoin today. getting above 57,000 that is just short of the all time high. we will be right back. some people say buy and hold investing is dead but there is nothing wrong with that strategy as long as you don't buy and forget about it. it is important to make sure your portfolio doesn't become overly concentrated in one stock or sector due to market

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welcome back the dow higher for the fourth day in a row, gaining more than 1% boeing leading the way the nasdaq once again lagging behind but picking up a little steam in the last few minutes. speaking of rebounds, tesla higher again today we have more on tesla's big ayitusertsivs. ral st wh

tesla stock is still down 25% from its all time high if you compare the market value to ford and gm's, the numbers are shocking especially considering that tesla sells far fewer cars what sets tesla apart? the answer is under the hood let's bring in phil lebeau for the details. hey, phil. >> tyler, all about cost advantage especially when it comes to battery cells and battery packs. check out this chart this is new information never before seen. look at how much lower tesla is compared to gm which is really the auto maker closes to it when it comes to how much they pay for battery cells and the overall industry average which is substantially higher. why is tesla so much lower in part because of the size of the giga factory not only out in nevada but the one in china. they're building two more around the world. all of that is helping them drive down the cost of their battery packs. here is sam jaffe.

>> tesla is definitely putting the hammer down on the accelerator pedal. they see this as the crucial period and they're building out their capacity as much as they've done it in the giga factory. look at what they are doing in shanghai and berlin and now in austin, texas. they are just piling factory upon factory >> keep in mind that general motors is also building a battery plant in northeast ohio. that will open up next year. still no comparison between tesla and gm in terms of performance. one last thing to keep in mind, tyler. look at how many electric vehicles will be sold by 2030. it'll be more than one out of every three vehicles sold in the world. that is not the correct chart. the bottom line is this, guys. you will see massive growth in evs between now and 2030 guys, back to you. >> mr. lebeau, thank you very much we appreciate that let's look at the markets right now. look at the 500-point gain for the dow, vaulting it into all time high territories.

nasdaq basically flat today but look at the russell up 2%. >> absolutely. i think we ought to continue to keep our eye on the small caps often seen as the proxy for the reopening. today up it has been a bit of a rocky ride for the last few weeks. >> what worked last year not working so much this year. what didn't is thanks for watching "power lunch" everybody "closing bell" starts right now. >> thank you, tyler and frank. welcome everyone to "closing bell." i'm sara eyesen with wilfred frost. another day of divergences for the market the dow is a big winner today up more than 500 points looking at session highs tracking for a record close after under performing in yesterday's session but tech is taking a back seat following a furious rally yesterday. the nasdaq still higher. let's look at what is driving the action one hour left of trading treasury yields remain in focus and are ticking lower today. this after the latest read on inflation was in line to lower a bond mar