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 market didn't spark the market we are keeping a close eye on washington as well this hour where the house just passed the stimulus bill and where president biden is expected to meet with the ceos of johnson & johnson and merck this hour. we'll bring you there live the reddit retail names seeing huge swings. gamestop up as much as 40% before turning on a dime, falling all the way to negative territory. we'll keep an eye on it for you. 59 minutes left of trading >> we are near session highs on the dow which should be enough for a record close up 524 points coming up on today's show, tech investor dan niles joins us to weigh in on the wild swings we've seen in the nasdaq over the past week and how rising rates are hitting his investment decisions. plus, shares of adidas higher today after announcing strong earnings in a brand new five-year plan we'll hear from the ceo kasper rorsted about that and a new partnership with peloton exciting earnings coming up after the close including oracle, umble's first report since going public and reddit

favorite amc the big stories we are watching today, mike santoli is tracking the market action. we have a closer look at where the money in the stimulus bill will go and we have fresh updates on coronavirus treatments and vaccines. start with you, mike >> wilf, a little uneven under the surface but netting out to a positive picture not a lot of outright weakness the dow the big winner, 150 points that gain is three stocks. boeing, goldman, and caterpillar. the s&p 500 starting to make the case that that 5% pullback perhaps was it for now maybe that is the lower end of a range, something like that i will point out 3912 we're trading at on february 8 the index closed at 3915. so sideways for a month on the index level. the equal weighted version of the s&p is up 4% in that period so hard to argue with that kind of action when the average stock is doing well even as the overall market consolidates not quite as good a picture for the

nasdaq 100 looking a little iffy for where the trend is now this chart yes we are bouncing a little and adding a little to yesterday's gains but people are more concerned about the down trend. maybe this is a little test to see if in fact it can pull out of that. i say the broader market is doing fine smaller stocks, one big reason for that the s&p small cap 600 up more than 2% today. this by the way looking really stretched. if you had the kind of 200 day average, a really wide premium to that average. so it does look like it is getting a little heated. gamestop, largest stock in this one. micro strategy, crocs, all in the top ten. this is not just your salt of the earth industrial stocks out there. some of the high flying kind of buzzy stocks as well, guys >> and clearly, tesla holding on to its massive rebound from yesterday. it has been up and down today. interesting that apple is -- and microsoft lower for the week as a whole. >> they had big bounces yesterday. it still feels as if the big,

steadily growing but not levered to the cyclical rebound type stocks that are real heavyweights in the nasdaq still can't quite get back into gear but we'll see if that changes. up off their lows but not doing anything today >> mike, thank you see you soon mike santoli the house passing its $1.9 trillion stimulus package this last hour we have a closer look at where all of this money is being allocated. ylan >> sara, democratic leaders nancy pelosi and chuck schumer are about to hold a photo op to celebrate the passage of what they call an historic and transformative bill to respond to an unprecedented pandemic >> a full year later 18 million americans are still out of work according to the statistics at the end of last week and nearly 10 million jobs may have been lost we hope to stop that

>> now, of course, this bill includes the $1,400 stimulus checks and extension of unemployment benefits. but there's also $350 billion in aid to state and local governments. $125 billion for k-12 public schools. $48 billion for covid testing and response $7.5 billion directly to the cdc for vaccine distribution $7.25 billion to expand ppp. some of the sectors that will receive special relief include restaurants, live entertainment, amtrak, and airlines, which are getting $15 billion alone. guys, just minutes after the bill was passed the industry's trade group thanked lawmakers for their support and called the legislation vital to preserving jobs back to you. >> ylan, i attended the yale ceo conference where it is a group of ceos and he polls them and asks if this very question about support for the new stimulus package. i think we have the results

here overwhelming support at least either strongly support or somewhat support. the number adding up to 73% which does suggest even broader support i would think than the american public even though this does poll favorably. what does that matter? >> yeah. i think it is important because one of the arguments that democrats have been making is that there is bipartisan support among the public, the business community for this package, even though no republican lawmakers voted for this business is going to be really critical for the next legislative package. the business community has come out strongly and said they want to work with the new administration on infrastructure, that they want something passed in fact by july 4th. so they can help provide some of that momentum and political leverage to push some lawmakers to perhaps move over the line on capitol hill >> thank you very much for that. meanwhile, new developments on the coronavirus front today as more states start to open up their economies.

meg tirell has two key updates >> the first on the treatment front eli lilly's combination of two antibodies showing really promising phase three results today that they could reduce the risk of hospitalizations and deaths by 87% when given early to high risk patients. this is already an authorized drug but it adds to the evidence supporting its use we talked with eli lilly's chief scientific officer on just the pace of developing these and how they exceeded expectations here is what he said >> it was just a little bit less than a year ago that we talked about kicking off this program and here we are a year later now with the highest level of evidence that we used for drugs. two randomized controlled trials, highly statistically significant on a key outcome measure here, which is reducing hospitalizations and deaths. it's beyond our wildest

expectations >> on the vaccine front we are expecting news from president biden today that he will announce a plan to order a hundred million doses of the j&j vaccine to be delivered sometime in the second half of this year. that is as we are awaiting his meeting with the j&j and merck ceos at the white house today to celebrate them coming together to manufacture j&j's covid vaccine together >> great stuff thanks very much i guess we hope that -- it's good to know it is there and so effective. the new game in town video game publishing platform roblox soaring.

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video game company roblox, a massive multi player online game platform that lets its users program games that can be played by all users, sharing 30% of the revenue for developers while the company launched in 2004 it is seeing huge success amid the pandemic. joining us now, brandon ross and super human ceo, very good to see both of you. thanks for joining us. brandon, i'll start with you and a broad question you said in the past that the company is the youtube of the gaming market. explain what you mean and what the company is >> sure. well, first and foremost, in your introduction you called roblox a gaming platform and we don't actually see it as a gaming platform. we see it more as a media and communications and entertainment platform but one that's more of the

future than what we've seen so far. most of what's actually happening on roblox isn't really objective based gaming but more hanging out. and gathering in virtual space so just wanted to start with that it is also a u gc platform where it is user generated content and we've seen the dmok ratization of content creation across video on youtube here it is actually players that are graduating to become content creators, only they have the tools to do it in virtual space. >> and what level of expertise when it comes to code org computing do you need to have to make that transition from a video game player to a creator >> roblox supports a very wide range of expertise you can come in and use roblox

studio as someone who is competent at computers but maybe you've never programmed a word of code in your life and create a relatively basic place for your friends to hang out with just like we heard alternative itly you could also be a high end, legitimate video game developer and there are people making hundreds of thousands if not millions of dollars as developers on the roblox platform. >> i mean, the concert was huge. it blew up is that a model they can build off of i think it got even more viewers than the travis scott fortnite for similar kind of performance that happened over the pandemic. >> absolutely. i think this is one of the things that makes roblox so exciting in where they can go. like we expect them to make the experience better, to get more detailed characters, more realistic graphics, more sophisticated sound. i think that, then, makes the platform more attractive to an older demographic, which opens

up opportunities for new live experiences and marketing. you could imagine a product launch happening on roblox or even attending a virtual conference or concert. >> what is the level of engagement op be this platform does that suggest that a new revenue stream will be opening up or a new significant revenue stream in advertising going forward, or will the revenue continue to be generated by the buying and selling of their own currency >> in the most recent quarter, 2.6 hours per daily active user was the statistic. and there were 37 million daily active users, which is really just scratching the surface if you compare it to something like a snap, which has, what, 265 million users and is attacking a similar demo we believe that as there is much more engagement on this platform it is going to be a place that

as was mentioned brands are going to have to play. this is a hard to reach demographic number one and number two, on roblox there is really engaging experiences that could be created where the users are really interacting with the brands as opposed to just watchingor scrolling past an advertisement >> you mentioned the age and the demographic, which is key to this conversation, right what is the sweet spot, 9 through 12 are they able to get 20 somethings, 30 somethings? have they proven that yet? >> gamers spread across a very wide range of age. roblox today is predominantly generation z the thing we have to remember about generation z is they are growing up in a world where games are more relevant than music and hollywood. and so in that world what is

cooler than making a game that your friends can play? but we do also see gamers across that entire spectrum and as roblox makes that platform more robust they make it more realistic, trying some really interesting things with more sophisticated audio down the line i do think that we'll be able to see all the gamers coming to the platform >> just to jump in there -- >> well, a $38 billion company go ahead final word, brandon, quickly >> i just want to jump in. i completely agree with rahul and i think this company is going to appeal to a much wider demographic over time as the supply side really gets ramped up and better and deeper experiences are created. but again, this demo supports 265 million users on snapchat and 37 million users is just scratching the surface there are going to be more

consumers hanging out in virtual space and time and even if they just attack this one demo they could be much bigger >> well, you're both very bullish and the stock is up 57% in its debut thank you for joining us with your perspective here on roblox. we have 43 minutes left of trade here before the close. take a look. the dow is the winner. it is up 517 points. session high was just north of that the s&p 500 off that 1% level up 0.8% the nasdaq up 0.2% lagging today after leading yesterday and the russell 2000 index up. still ahead tech investor dan niles stops by with his thoughts on the wild moves of the nasdaq over the past week and how he is positioning for a rising rate environment. he's also been a fan of oracle which reports after the bell we are awaiting a meeting between president biden and the ceos of merck and j&j. we'll take you there live to

washington as soon as it starts. we'll be right back.

38 minutes left of trading looking at shares of ge going lower down 5% the company announcing it struck a deal to combine the aircraft leasing unit with that of ireland's air cap holdings ge plans to use the proceeds of the deal to help reduce debt by about $30 billion. here is what the ge ceo told our david faber this morning

>> this really marks the transformation of a company into a more focused, simpler, and stronger ge. we'll be able to focus on our core four industrial businesses aimed at the energy transition, precision health care, the future of flight there is no question we'll be a stronger company going forward financially and operationally. >> ge also issuing an updated outlook and recommending shareholders approve a 1 for 8 reverse stock split which just for a reminder, wilfred, won't affect the value of your shares just the amount of shares outstanding and the price of those shares this follows a long road ge has had toward cleaning up some problems around debt and around ge capital and how big a lender that used to be before the financial crisis and getting out of those businesses and back to the roots of the industrial agree and also interesting to see the share price reaction down 5% perhaps some people would have liked a slightly richer price or in fact a price that saw more

cash delivered immediately in terms of the way it is structured reading various reports it looks like air cap were interested in the assets throughout the pandemic and, e was able to wait long enough to see some kind of recovery in the price of broadly the airline industry and get a reasonable price although one slightly disappointing in the market. the merge interestingly, the big players in leasing, but they only represent less than 10% of aircraft deliveries globally for last year. aircraft leasing only represents 40% of new planes which i hadn't realized i would have thought it was higher than that but, still, some people questioning the competition impact i'm sure itwill be approved because as i said it is less than 10% of annual aircraft deliveries but ge trading down 5% off the back of that one still to come a rare interview with the ceo of a company whose products have become ubiquitous over the past year speaking with the head of purell about the

explosion of demand during the pandemic for their hand sanitizer and other products as well we are still awaiting remarks from president biden and others. we'll take you to that live when it starts. the 10-year down to 1.52% today. currently the 30-year -- back in a couple minutes lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones.

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now california phones offers free devices and accessories for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program call or visit about 30 minutes left to go in today's session let's check in on individual market movers. morgan stanley upgrading sun run to overweight from equal weight today the firm citing growing consumer interest in the solar industry and says it could benefit from upcoming clean energy legislation the stock up 3.5% united natural foods benefiting from lower promotions and expects to finish the fiscal year near the top end of the guidance range the stock up 18%.

a quick check on the meme stocks like gamestop sharply higher, all the way negative, now higher by 5%, costs up 66%. express. the stocks continue to soar. amc will report results after the bell i don't know if we call roblox a meme stock it went public today and is soaring it does get attention on some of the reddit boards, some overlap with the investors and users >> i can picture that having done that without the reddit craze as you say. >> for sure. that is why i sort of couched it yes. >> but definitely having a good day. gamestop has been all over the place and currently as you say up 3%. broader markets up about 0.75% of the s&p time for your cnbc news update >> hello wilf. hi everyone. an iowa jury has acquitted a newspaper reporter who was pepper sprayed and arrested while covering racial injustice protests critics of the case call it an

attack on press freedoms the senate confirmed merrick garland to be u.s. attorney general. republicans had snubbed his nomination for the supreme court but many praised garland as the right person to lead the justice department now in california it was the busiest february ever for the port of long beach the surge in shipping was driven by a 50% jump in imports that more than offset a 5% drop in exports. the number of empty containers moving through the port rose by 70%. and staying in california, california now getting much needed rain but apparently too much for some areas. an area hit by wildfires last year, take a look at this, cars clearly no match for the mud slide as they were pushed aside there. storm warnings do remain in effect in many parts of the state. guys, back to you. >> rahel sullivan thank you very much we have just 30 minutes left of trading. the dow is the winner today on wall street up more than 500 points tracking for its best week in the last five. trading near session highs

up 1.6%. if you look at what is contributing the most to the dow rally, it is some of the cyclical reopening plays like a boeing for instance having the biggest impact goldman sachs also contributing a lot. the financials have been doing well honeywell is up there. mcdonald's home depot all adding to the dow's gains. most dow stocks are higher right now. united health, microsoft, apple, and intel are the exceptions technology under a little pressure nasdaq still higher. but tech is definitely under performing today it is basically a reverse from what we saw yesterday. the airline industry, pushing back against the cdc's new guidelines that vaccinated people should still be avoiding travel we'll talk to the ceo of hawaiian airlines next plus, march is women's history month. we are spotlighting some of our cnbc contributors. here is rbc's global head of commodity strategy on the women that inspired her. >> for me growing up i was really inspired by these

fearless female leaders who were the first women to lead their countries whether it be indira gandhi in india, golda meir 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 they were incredible inspirations for me growing up yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today.

i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid.

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off session highs dow up 480 as we go into the close the nasdaq back to the flatline. it has been a year since the pandemic shutdown began. as the vaccine continues its roll out many are planning their vacations. the cdc continues to advise americans against travel telling them to avoid it completely unless absolutely necessary even for those that are vaccinated garnering some pushback from the airline industry joining us now is peter ingram hawaiian holdings ceo. welcome back to the show, peter. good to have you >> great to be with you today. >> while i'm sure you were disappointed to see that the cdc is still recommending against travel even for vaccinated people, do americans care? are they following the recommendations? what do you see in the booking

>> well, over the last several weeks we have seen bookings begin to improve and show some momentum week to week so we've been encouraged by that. i think with regard to the cdc's recent guidance for people with vaccinations one of the things they did indicate is that those -- they are going to continue to update and refresh those recommendations and be guided by the science and the data and i think there is a compelling story to tell about the safety of air travel but the message that we've been putting out for a while that it is a very safe form of transportation and we look forward to the continued evolution of those guidelines >> hawaii is sort of an interesting case study, peter, because it is so dependent on tourism. and you did that strict quarantine rule at first and now i think what, you have to show a negative test before traveling to avoid the quarantine? are you guys moving toward some form of having to require a

vaccine passport, proof of vaccine to enter the state >> since september we've had what is referred to as safe travel hawaii program which for flyers is proof of a negative covid-19 test in the three days prior to travel to avoid the quarantine and that has allowed us to begin to see some recovery and economic activity here and certainly helpful for our business after some very, very quiet, very, very quiet second and third quarters in 2020 the state's guidelines i think are also going to continue to evolve i imagine that the state, and they have indicated this, that they are going to continue to look at the cdc recommendations with regards to whether a vaccine, proof of vaccine is sufficient to avoid the testing

and, certainly, you know, we look forward to anything that makes it that much easier for people to be able to access the hawaii vacation. we know there is a tremendous amount of pent up demand and a lot of people are testing right now. so we're eager to keep building on that momentum >> peter, i note you recently guided you could be back to 80% to 100% of north american capacity 2019 levels this summer, which is surprisingly high i guess, though, not the same as saying 80% to 100% of passenger levels or even revenue what is the gap there between capacity and revenue relative to 2019 levels? >> yeah. i know when we had our fourth quarter earnings call some people were surprised by the indication about our schedule. but candidly we've just updated our schedule for april and through the majority of may and our north america to hawaii schedule is already going to be back in the high 80s percent of

our 2019 levels. so we are bringing back capacity we are seeing good demand. we're still running somewhat lower load factors than we have historically and typically, you know, we're in the high 80s or low 90s on load factor before the pandemic we are eager to get back to those levels the pricing environment continues to reflect an environment where supply is a little bit ahead of demand but we think as more people get vaccinated and are looking forward to getting back to some of the activities they've missed out on for a full year now, that travel to hawaii is going to be one of the ones people really want to take advantage of. >> peter, your industry is getting more payroll support again in the new stimulus package. what is that going to mean for you and your workforce and you ability to hold on to them and have to avoid lay-offs >> well, we're very encouraged

to see that bill get passed through both houses now and i'm sure the president is going to be signing it very shortly if he hasn't already what it means for us -- >> hey, peter, i'm so sorry. i have to interrupt you because we do have to take our audience to washington. president biden meeting with the ceo of johnson & johnson, alex gorowsky, who has just begun speaking the merck ceo is there as well >> it is time to defeat a common enemy. today we're at war with covid-19, and public/private partnerships like the historic one we're celebrating today, they are a major reason that last week i was privileged enough to witness some of the very first residents in our home state of new jersey receiving doses of our vaccines just 13 months -- 13 months after we started the development process. when one of the residents at

this senior apartment was asked how she felt after she was given the shot, she looked at me and replied, safe. i couldn't be more proud in our new collaboration with merck, it is going to allow us to be even more ambitious in our goals of keeping as many people around the world as safe as we possibly can with our effective, one-dose vaccine so i am proud, extremely proud to count ken frazier as an active partner as we bring our companies together in new ways on behalf of humanity. we share one common goal above all things and that is advancing public health so, please join me in welcoming ken frazier.

mr. president, i want to begin by thanking you for the steady, practical, and resolute leadership you and your administration have provided, putting people before politics and fostering an environment in which private sector manufacturing and scientific capabilities can work in healthy partnership with government to create a force multiplier in a battle we simply must win. i'm also pleased to be here alongside my friend and colleague alex gorsky to talk about our historic collaboration. the covid-19 pandemic has affected all areas of our global

community. it has created profound challenges and hardships especially for our most vulnerable and disadvantaged people and communities it has also shone a light on the resilience of our first responders, scientists, health care workers, and those providing essential community services, the real heroes of this challenging moment. at merck, we are proud to contribute to the global response to the pandemic through this collaboration, with our colleagues at johnson & johnson and the biden administration, we will work together to enable more timely delivery of much needed medicines and vaccines for the pandemic now, some observers may view this corporate partnership as the coming together of rivals. but in these extraordinary times, we are colleagues, not

competitors. the funding made available by the biden administration will enable us to adapt our manufacturing facilities for the production of covid-19 vaccines and medicines including johnson & johnson's vaccine. with the support of the biden administration and, specifically, the dpa, we will expedite the modification of our equipment. again, i want to thank president biden, alex gorsky, and his colleagues at johnson & johnson for their remarkable, scientific achievements, and my colleagues within merck for helping to facilitate this important partnership. and now, it is my distinct honor to introduce the man who has brought the full weight of the federal government to bear in fighting this virus, president joe biden. >> thank you

i want to thank you both for those words. you know, you and i knew one another when i wasn't president and you weren't a chairman >> right >> we'd ride back and forth on amtrak he lived in philadelphia i was commuting to wilmington. it is good to see you both here and thanks to both of you for your kind words. i want to thank scientists and researchers at johnson & johnson for the literal heroic effort that began when covid-19 first spread and led to the safe and effective vaccine now being coproduced today, we're seeing two health companies, competitors, each with over 130 years of experience, coming together to help write a more hopeful chapter in our battle against covid-19 i just had an opportunity to meet with both of these ceos and

their senior operating officers and hear about the work they are doing together to produce vaccine substitute and accelerate what they call to take it to full finish what's clear is this is historic, nearly unprecedented collaboration. during world war ii one of the country's slogans was we are all in this together and the companies took that slogan to heart. for example, one auto maker didn't have the capacity to build enough jeeps a competitor stepped in to help. competing airline makers teamed up and produced parts for each other and gave the american pilots control of the skies. today we're seeing the same type of collaboration when it comes to getting this virus under control. i said, we ought to treat this like a war i want to thank the two

companies for showing how we can come together and defeat this virus. by putting patriotism and public health first i mean that literally. putting patriotism and public health first your companies working closely with a man you've both privately bragged about, jeff zients, i want to thank you and the team you put together for the coordination of our covid-19 response and dr. david kessler and his team at the department of health and human services you know, when i came into office we began working with the team of j&j to accelerate and add capacity to the manufacturing production efforts. it quickly became clear that merck one of the world's leading vaccine manufacturers was in a position to be the partner we needed in this effort in this war time effort. i have not hesitated to use my power under the defense production act to expedite

critical materials and vaccine production such as equipment, machinery, and supplies. it's not just johnson & johnson and merck. pfizer, moderna, also work closely with us to help speed up the delivery of millions more doses. the result is that we're now on track to have enough vaccine supply for every american adult by the end of may. months earlier than anyone expected and today, i'm directing jeff, and my hhs team, to produce another 100 million doses and purchase another hundred million doses of the johnson & johnson vaccine. i'm doing this because in this war time effort we need maximum flexibility. there's always a chance that we'll encounter unexpected challenges or we'll -- there will be a new need for a vaccine effort or vaccination effort a lot can happen a lot can change we need to be prepared of course we need to match the

miracle of science and skill of manufacturing with the massive logistical undertaking of vaccinating over 300 million americans. already we've gone from johnson & johnson vaccine authorization to shots in the arm in three days i was telling a gentleman we were at a facility yesterday, a veterans outreach, and there were three members of the veterans community getting shots. one was getting, of each of the three vaccines and the guy in the middle, a veteran, was getting his and i was standing about as far away as i am from you and standing up and he was sitting down and as the nurse put it in his arm he went, j&j just one well, millions of people will feel that way and be proud to be in a position they have an ability to get the kind of help

they need. seven weeks ago only 8% of the seniors, those most vulnerable to covid-19, had received the vaccination. today, 60% of the people over the age of 65 or older have received at least one shot that is because this is a population that represents 80% of the covid-19 deaths we've opened support and opened more than 500 community vaccination sites. that is more -- and they're administering hundreds of thousands of shots a day and for folks who aren't near a pharmacy, or mass vaccination center, we are deploying mobile clinics like vans that go into places to meet the folks where they live. we're also supplying vaccines to community health centers to reach those who have been hit the hardest and suffered the most especially black, latino, native american, and rural communities. this is important.

because we know we have more to do to ensure everyone is treated with equity and those most impacted get the care they deserve. on saturday, we hit a record of 2.9 million vaccinations in one day in america and beyond the numbers are the stories. a father says he no longer fears for his daughter when she leaves to go to work at the hospital. the children are now able to hug their grandparents the vaccines bring hope and healing in so many ways. again, a vaccinated american is the only way to beat the pandemic, get our economy back on track, and for us to get back our lives and our loved ones that is why the american rescue plan was so critical i want to thank speaker pelosi and the house of representatives today for passing the bill i will be signing into law shortly.

this bill represents an historic victory for the american people and i look forward to signing it later this week. everything in the american rescue plan addresses a real need including investments to fund our entire vaccination effort, more vaccines, more vaccinators, and more vaccination sites. millions more americans will get tested including home testing, schools will soon have the funding and resources to reopen safely on national imperative. the american rescue plan, the partnership between johnson & johnson and merck proves we can do big things, important things in this country. let me conclude with this. tomorrow night, i'm going on primetime to address the american people and talk about what we've been through as a nation this past year. but more importantly, i'm going to talk about what comes next. i'm going to launch the next phase of the covid response and explain what we will do as a

government and what we will ask of the american people there is light at the end of this dark tunnel in the past year but we cannot let our guard down now. or assume the victory is inevitable together, we'll get through this pandemic and usher in a healthier and more hopeful future so there is real reason for hope, folks. there is real reason for hope. i promise you. may god bless you all. may god protect our troops and may god ease the pain in the hearts of so many who have lost so many people in this pandemic. thank you. and i really -- we're going to do this. we're going to get it done thank you. >> mr. president, what do you plan to do with the surplus? what will you do with the surplus? >> mr. president, when will you do a press conference? >> the surplus will, if we have a surplus, we're going to share it with the rest of the world. we've already decided we are going to work with the outfit

covax and have committed $4 billion to help get funding for more vaccines around the world. this is not something that can be stopped by a fence no matter how high you build a fence or a wall so we're not going to be able to be safe until the world is safe. and so we're going to start off making sure americans are taken care of first but we're then going to try to help the rest of the world. thank you. >> is there a crisis at the border, sir? >> president biden there just addressing the press taking only one quick question, no followup questions. of course he followed comments from alex gorsky the j&j ceo and ken frazier the merck ceo the president saying the partnership between the two companies was historic and unprecedented and ken frazier the merck ceo saying of course that coming together many saw a coming together of rivals but in these extraordinary times we are colleagues not competitors it allowed that and many other things, 2.9 million people

vaccinated on saturday as the president just updated and also said he'd order another hundred million of the j&j vaccine of course a vaccine that takes just one dose the president referring to seeing someone get the vaccine administered earlier today. let's bring in meg tirrell to discuss the key takeaways from that and of course as a number of people there said the historic nearly unprecedented collaboration between these two companies showing some fruits. >> yes, a lot of comparisons to world war ii you heard the president make it there between the car companies, the aviation companies, and now the pharmaceutical companies working together here. that question about surplus is really interesting because even already with the doses that they had purchased we'll have enough for 400 million americans by the end of july. that's more than we have people in this country. now they are announcing an additional hundred million dose purchase from johnson & johnson. that is enough for 500 million people the implication is and president biden got at this a little bit if there are new challenges where we need a new vaccination

effort it sounds like they are getting prepared for potentially needing booster shots or potentially updating the vaccines against variants and that is leaving out the astrazeneca vaccine, novavax, vaccine, all of which will have data from phase three trials over the next few weeks. the u.s. will have a lot of vaccines later this year and we'll see whether they will use those for boosters, donate those to other countries which need access to vaccines one last comment on ken frazier he is winding up his time as ceo of merck a nice comment from the president saying they used to ride the amtrak together before one was president and one was ceo and chairman of a giant pharmaceutical company you know, he said he is not going into politics ken frazier but sure can give a speech, guys back to you. >> yeah, he sounds like a politician he would be a good one meg, thank you meg tirrell. we have about five minutes left in the trading day, going straight into the trading bell market zone. mike santoli here to break down

the crucial moments of the trading day and today we also have josh brown here as well mike, kick it off for us on the rerotation i don't know what you call it. the dow is up 480 points the nasdaq flat. so tech is under performing. information technology and the s&p just went negative why did we go back after such a strong rally in the nasdaq yesterday? >> i don't know that it is about really necessarily a deep under performance of the nasdaq. obviously we're consolidating a tremendous historic one day gain yesterday. i do think it is a little bit less of an all or nothing depending on the style you're doing. it is basically steady as she goes in terms of what the market has been doing which is positioning to be in place for the economic acceleration. everybody expects. bond yields recede a little bit. everything settles down though we've had choppy intraday volatility the equal weighted s&p as i mentioned is up 4% in the month as the s&p has done virtually nothing. so it still seems as if the market is pretty comfortable at

these levels and the headlines pretty much are supportive as we go >> josh brown, apple, amazon, microsoft, facebook all down you're pointing out. and tesla as well down more than 1% now sliding into the close. just a one day bounce for the nasdaq >> i'm not sure. but i think that is not really the key point for investors. i think the key point, wilf, is the fact that those are all down and the spx is still at or -- at highs of the day and above recent highs and you've got small cap value of 2.5%. you have the home builders again. materials break out to a fresh high i'm looking at boeing record highs. like you have enough of the market continuing to break out and here is the stat that i found interesting. this is the most in totals, the most new highs we've seen on the new york stock exchange going, you have to go back to the weeks after the 2016 election of

donald trump to find a moment where this many stocks were making fresh 52-week highs fresh 52-week highs being made in almost every sector of the market, concurrently, has never been bearish anyone who tells you so is lying. if you think about that setup in late 2016 when all of a sudden we had banks and oil companies and materials rallying, cyclicals, 2017 was one of the least volatile years on the books. according to my pal at all star charts when you look at the big picture you become less concerned about the tech rally today or not. it is interesting if it did. it really doesn't matter that much if it didn't. i think for investors the takeaway is, a lot of things are doing what you want them to do >> 90 seconds left in the session. mike, what are the internals telling us >> pretty supportive and strong as you would expect based on the headline numbers actually again the equal weighted s&p up 1%

the new york stock exchange advancers versus decliners running about 3 to 1 to the positive side for most of the day, pretty much continuing right now. so nothing too much the way of a blemish right there. also so far in the last month or so, actually month to date, dividend growth stocks have very quietly without anybody paying attention, up a fair bit if you look at etf, it is up 3.7% in the last five trading days so that sort of shows you people are finding their way to less aggressive areas as well. the volatility index has receded down we keep talking about that we've had in the past 10 or 11 days a 2% intraday range in the s&p. it is hard for the vix to settle down too much when you have that be the case but so far back in the low 20s which really hasn't been a problem area for stocks here, sara >> under 30 seconds to go. looks like a record close on the dow jones industrial average up 463 points or 1.5% we hid intraday record highs yesterday and the day before didn't get a record close.

looks like we'll get that today. the strength in the s&p 500 is everywhere except for technology energy is the best performing sector right now materials, financials, industrials also near the top of the list information technology is lower. josh brown doesn't care about it the nasdaq is also lower just went negative on the session. it was down. it was up as high as more than 1.5% and then looks like we'll close a little bit lower small caps are doing well today. higher by 1.8% regional banks are higher. a lot of the cyclical groups tied to the reopening of the economy and the expected growth we'll get from that. also, treasury yields a little more stable today. that auction that we got earlier, the 10-year, didn't really spook the market. and so we continue to see a rally except for the nasdaq. >> the inded in just red one sector red technology on the s&p. welcome to "the closing bell." i'm wilfred frost with sara eyesen and mike santoli. sara just mentioned the nasdaq

composite and 100 both in the red slightly the dow up 1.5%. the energy, financials, materials, topped, the tech the only sector in the red coming up noted tech investor dan niles will join us and weigh in on the wild swings in the nasdaq and the names he has been adding to. plus the ceo of adidas about the company's new partnership with peloton and why it is doubling down on digital. josh brown is still with us and tiffany mcgee joins the conversation mike, to you first and the performance today, clearly back to a day when energy, materials, financials, all of those cyclical sectors that have done so well of late performing well again and in unison >> they are. it is tough to fight the fact that economists are being forced to ramp their gdp forecast for this year. we do have the 1$1.9 trillion bill basically flushing into the

economy as well. you have people, traders even trying to front run the money wherever it is going to end up so for now i think all of this remains supportive it is very hard to assail the leadership in terms of cyclical leadership where credit is doing and the breadth of the market. everything in place. that being said s&p, you know, kind of struggled in this area for a little while it's had that weight of downside pressure on the growth stocks. so we continue to be kind of hovering as opposed to really breaking out in terms of the broad indexes but under the surface it is telling a pretty comfortable story. >> tiffany, where are you, growth, value, a little bit of both how do you position the portfolio right now? >> definitely. i think we should not be having conversations about growth versus value listen, we're still coming out of this event driven recession and the difference between now and other times is that we have an expiration date i think markets are really trying to figure out when the dust settles, when we do have

vaccine and full distribution. what will the new world look like, right? how will businesses change how will work change really speaking about gdp, yes we'll definitely see growth in gdp because we are coming out of this really exceptionally low growth environment with us, we're really focused on positioning portfolios, diversified portfolios, not just with a little bit of -- with the core of index passive strategies but also active management in terms of funds and also focused on stock selection in areas where we really have conviction around like tech adjacent companies, tech enablers and also stocks with dividends as well >> josh, you pointed out the banks particularly regionals, many hitting 52-week highs and many also hitting all-time highs in recent weeks and months the twothat haven't citi and wells fargo do they stand out as still having more upside than perhaps the others that have all been so strong >> well, you may have to lufive

long time to see citi hit an all-time high but at a 52-week high, wells fargo too. this is the yield curve steepening household formation increasing the housing market being boyant. not a lot in the way of delinquencies the way we'd normally see coming out of recession. not a lot of charge-offs, not a lot of write downs a lot of reserves a year ago that started to be put in place to guard against a recession, turns out much of that stuff is going to end up getting dropped to the bottom line in the form of profits when it doesn't get used against losses which we really just didn't see this wave of losses that customarily you would have to contend with as a bank so it is a really good point the last thing i want to return to something santoli said before the bell it's important about dividend growth. let me explain the way this whole thing works. wholesalers all over america right now from etfs, mutual fund companies, every asset management firm, has their

wholesalers doing e-mail blasts and doing phone calls to people like me on the buy side to talk about inflation. because that is what our clients are asking us about. and if you want to know why our clients are asking us about that, it is because that is what you guys are talking about on cnbc all day that's what the journal is writing articles about every morning. so what is the answer for inflation in a portfolio it turns out reits do a pretty good job way better than gold but stocks that are increasing their dividends over long stretches of time and into the future are the very best protection that a long term investor has against inflation so that is the story being told to financial advisers, family offices, other intermediaries all over america and that is why you're seeing flows into the dividend growers many of which are tech but many of which are not and i actually think that is going to be an enduring theme throughout 2021. so keep your eye on the dividend

growers. i think a lot of money is headed their way. >> it's a good explanation that is, tiffany, if you do expect inflation we got a cpi report today that came in line the core cpi what matters actually came in a bit softer there is a real debate about how much slack there is still in the economy and whether the new stimulus and the growth we're going to see is going to ignite some sort of inflation are you positioned that way? >> yes so, you know, i think we're again just really in this interesting time and so we are positioned -- we try to just kind of hedge our bets if you will, right? josh mentioned dividend paying stocks that is actually, i mentioned that before hand and i think it is increasingly important. really just focused on a balanced portfolio is just the most important thing again, focused on the long term. i think we've had a lot of investors, especially in 2020 come in and really focus on these high growth stocks that were doing really well and get really excited about them. now you're seeing like the real

world right now. so while it is really great to continue to pick those stocks, you really have to focus on what your strategy is is it short term or long term? for me, you know, and our clients, we are not traders. we're long-term investors. >> bumble results are out. let's take a pause and go to them with julia boorstin julia? >> reporter: those bumble results coming in stronger than expected revenue increasing 31% to $165.6 million the bumble app revenue in the fourth quarter increased 47% so growing faster than the baidu app. looking at the bottom line results they are reporting a loss of 1 cent per share it is unclear how that is comparable to expectations but the user number also coming in stronger than expected. users increased 32% to $2.7 million versus expectations of $2.62 million and then looking ahead at the

guidance here, the company's guidance for the first quarter in the range of $163 million to $165 million so higher than consensus guidance full-year guidance also looking stronger than analysts' expectations revenue in the range of #please $16 million to -- $716 million to $726 million the ceo saying our aggressive effort is a result of our team's agility during the pandemic looking ahead we remain focused on scale and internationally we will be speak wg her tomorrow morning on "squawk box." sara, back over to you >> looking forward to that, julia. thank you. tiffany, i think you own this stock. what do you make of the results? >> i do. >> the stock is up more than 4% after hours. >> yes, we're super excited about it and we really expected good things from bumble. there is really a lot of room to grow when you look at bumble's end 25

markets compared to tinder, bumble is about, like tinder is number one bumble is number two. it is in 25 markets compared to 196 with tinder. you know, 40% of couples meet online we really think that there is a large room to grow for bumble. at ipo they had about 42 million active users we are happy to see that is increased. you know, they had profit actually last year you know, this is, when you talk about whitney and what she has been able to do as a founder, a woman founder, we also believe this is an esg component as well she is doing things the right way. we are looking kind of going into this about their plan to expand we're happy to know that they have a plan to expand in different countries and then also bumble bff and bumblebiz so lots of different areas that she wants to branch into >> bumble doing well up 6% in after hours trade. let's get to oracle's numbers. josh lipton has them >> so oracle is reporting q3

results here earnings per share of a buck 16 versus expectations of $1.11 and revenue up 3% to $10.09 billion in line with what the street was looking for to the segments here cloud services and license support up 5% to $7.3 billion in line with forecasts. that is cloud revenue and maintenance fees for traditional software in that segment the other big segment cloud license and on premise license up 4% to $1.3 billion forecast called for $1.2 billion. capital return here news as well the board of directors increasing the authorization for share repurchases by $20 billion and also raise their dividend. remember heading into this print investors had piled in this stock was up about 15% over the past month so the top performer in the s&p tech sector over that time rallied about 80% off that march low conference call is at 5:00 p.m. eastern when we expect the ceo to deliver guidance. back to you all. >> thanks for that dan niles one of his top five picks of the year.

we'll discuss it with him coming up in the next block mike santoli take your pick. oracle, bumble bumble quite soon to report after just going public. >> yeah. it is always a good sign when they don't miss on the first report it is a big red flag when they do also that stock taken down from its post ipo highs a fair bit along with a lot of the other kind of emerging growth, brand new novelty stocks so it is coming into this report in a more favorable position perhaps in terms of the stock reaction and setting up for it and also with the revenue guidance it is like 10 times sales and, you know, kind of break even to profitable that is not crazy in this market that we're in in terms of where we're -- where some tech companies are trading. >> wrap it up there. josh brown, tiffany mcgee, thank you both for being here today. bumble up 6.5% after hours up next, tech investor dan niles will be here to weigh in on the big moves in technology and the two sectors he thinks that could out perform this year back in just 90 seconds on "closing bell."

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it all starts with an invitation... ...to experience lexus. the invitation to lexus sales event. lease the 2021 is 300 for $359 a month for 36 month's, and we'll make you're first month's payment. experience amazing. welcome back markets closing positive dow at a record up 1.5%. s&p up 0.6%. nasdaq just lower in what has been a volatile couple of days particularly for the nasdaq. joining us is dan niles founder and portfolio manager of the san tory fund. thanks for joining us. >> my pleasure wilfred >> i wanted to start if i may on two of your top picks for the

year that have done very well the xle and jpmorgan have you been tempted to take profits in either or are we just at the beginning of a long run for them >> so, that as great question. from a longer term basis i still love both of those because i think with the economies globally still having to open up oil demand is going to get stronger from here. i think you'll see those stocks and the energy sub sector continuing to do well and likewise as economies open up you should see loan growth improve and track gdp which this year in the u.s. probably 7% which will be the fastest since 1984 so assuming you get that loan growth obviously you talked about yields and how they've steepened. all of that is really good for the bank stocks in general in the short term we've hedged some of our positions, lowered others, bought others. you know the way i function. i am more likely to be selling as it goes up and buying when it

goes down than the other way around so for us we still like them long term. that is kind of how we're viewing it >> and energy up 40% today of course the inded in 100 negative and the composite just fractionally positive. a big correction in tech stocks. then a big bounce of course yesterday. does that bounce and the size make you think the tech correction is done or is there more to come >> short term we'll get $1.9 trillion into the economy very quickly when president biden signs. you have another 3 trillion they want for infrastructure spending behind that and then the fed buying 120 billion in bonds every month. add those three things together that is 30% of gdp in additional stimulus coming into the market on top of the fact the money supply is already up 26% year over year which is an all time record during the global financial crisis only 20%.

there is a good chance the stock market could hit all time record highs driven by more of the same thing which is stimulus but then my feeling is that's it. you're done. as the economies open up the 10-year continues to climb and i think it will finish the year well over 2% o i think tech stocks will continue to struggle especially the ones with high multiples and revenues all on the come and so for us that is where we have our shorts concentrated but we are constantly trading around. i said this on cnbc last week. we covered a ton of our shorts and put a ton back on this morning. and started this morning so for us, that is -- we still don't like tech because of the valuations there and for the overall market and we like the cheaper forms of tech or other sectors like banks, energy, raw materials, things that benefit from inflation and economies opening up which people hated last year. and that is the thing you forget energy might be up 40% this year but it was down 37% last year.

it still has to go up another 16% or 15% or so to just get back to even that is the way the math works i think you still have a long way to run in some of these reopening sectors. >> i can't believe you just talked about tech and didn't mention oracle, dan, which was another great call you mentioned it at the end of the year last year with us as a top pick it is not a sleeper. one the best performers. is it a tech value play or something going on inside oracle which just reported results moments ago, stock is lower after hours. looks like a good quarter and boosting their slayer of repurchases. >> so, sara, i think you have the best comment on oracle when you interviewed me in december when you said this is a really unsexy stock you are absolutely right that is a reason we like it. this company hasn't grown revenues in three years. it is struggling with the transition to the cloud which it

was late getting to. it is trading about 16 times we like it because we think the cloud business between the autonomous data base business and the oracle cloud infrastructure business is about 1.5 billion in revenues growing 100% year over year. we think that will enable them to show revenue growth this year starting to pick up especially as gdp growth picks up you look at that and you say 16 times earnings, s&p sitting at 23 times earnings. why can't this get a market multiple so you don't need a lot? in terms of it being down in after market we bought it to hedge out our long position. we had three positive notes that day, an upgrade the day before the article a week before that it went from being unsexy to use your words to being very sexy for about a week we're like it is probably going to go down on earnings regardless and we'll take those hedges off i think the stock could have still another 30% to 50% upside

in the next 12 months just to get the multiple to a market multiple and this is what we saw with microsoft. you know, a long time ago when they made that transition. so it is still my favorite tech pick because it is defensive but it has a lot of offense with the cloud business picking up. >> let's stick on the stock specifically talk us through mga again briefly but why it is one that you might be topping out in the short term >> yeah. so, you know, it is a good question obviously everybody likes electric vehicle stocks, right tesla, you know, companies that don't make any money today, but are going to be huge ten years from now, etcetera for us, i'm a value investors and i like growth at a reasonable price and especially after the runs they had last year like tesla's revenues were up 28% last year stocks up 700% that is great. i like magna international because that is trading i think at about 12 times pe they have agreements with the google autonomous division, fisker, some of the companies in

asia as well, and, you know, many years ago when apple was pushing their car initiative, they were supposedly in discussions with them as well. so for me, i'd rather own them we have other names in that space again. very cheap not in the reddit crowd, you know, or it is going to be huge and i pay an enormous amount in a spac today that is not what we want to be in we want to be in something with good fundamental value down side protection that's why we like magna international. a very cheap ev play and that is why we have that one we do have some more sexy stuff to go back to sara, which is the etf which is you're betting from online sports betting going from $3 billion in revenues now to $15 billion in just five years and so that is the part of our portfolio that has a little bit of sexness to it >> i like talking about the nonsexy names, too, dan. thank you.

turns out that's the winning strategy this year dan niles. appreciate it. up next on the show, mike santoli back at the telestrator with a deep dive on the recent surge of retail investors as the frantic meme trade heats back up gamestop closed up 7% today. as we head to break another look at shares of bumble after its first report as a public company the stock doing well after hours up 3.5%. it was up 6% a moment ago. ceo on "squa bwkox" tomorrow "closing bell" will be right back warmer. at emerson, we drive the adoption of more environmentally friendly refrigerants, for a greener, more sustainable impact on our future. emerson. consider it solved.

tonight stimulus relief. will it be enough to save the middle class shares of cloudera sinking on the bask earnings let's get to seema modi with the details. >> down in extended trade the company reporting better than expected earnings in revenue a 4 cent beat on the bottom line but guidance is the story. first quarter and full year earnings in revenue guidance significantly below estimates. that is why shares are down nearly 10% in after hours. the stock has been a winner though up about 200% from the march low and just looking at valuation as we of course, that being a big topic with tech companies in general, trading around 35 times forward looking earnings guys with the stock now down about 9.7%

>> let's get over to mike for a closer look at the surge of retail investors in the market >> it has not let up we saw it just today another surge and crash in gamestop shares some of the other meme stocks. this is from j & p securities all the way through february it is really continuing to surge even though you had the crescendo of activity in late january. people thought maybe some fall-off there hasn't robin hood, coin base obviously crypto as well as a result and this is more of an aggregate number looking at margin debt versus cash in all brokerage accounts right now it is actually looking like pretty risk seeking type behavior ned davis research has this long-range chart of cash in brokerage accounts minus margin debt so in the negatives and pretty deeply negative, pretty close to where we were in early or mid 2018. that was the point when you had a real kind of peak in short term risk appetites. there are some caveats here one of which is a lot of cash is in

money market funds not necessarily within brokerage accounts also it is going to be a tremendous amount of cash hitting all kinds of accounts with the stimulus checks going out there. so it is not to say people are all over leveraged at this point but in general people are all in this market and it is very active along the trading front, guys >> interesting sentiment mike, thanks up next, partnering up with peloton. that is one of the big announcements from adidas today at its investor day. i caught up with the ceo and got his first take on the news the stock closed up sharply. his comments coming right after the break. "closing bell" will be right back

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stlooe amc entertainment results are out and julia boorstin has the numbers. >> reporter: amc shares are moving higher now on revenue that beat expectations the company reporting revenue of $162.5 million about $20 million more than analysts projected the company reported an adjusted loss of $3.15 per share. it is unclear if that is comparable to estimates. the ceo commenting on the unprecedented challenges the company has faced in the past year but saying that during the fourth quarter more than 8 million u.s. and international patrons did return to an amc theater and saying that with vaccines rolling out theaters set to open and more big film releases scheduled, they are

optimistic guys julia boorstin, amc up a little more than 3% after hours. thank you very much. adidas shares closed higher today after a rough year for the company. it laid out its five-year growth strategy including 8% to 10% growth per year over the next five i had a chance to catch up with the ceo and asked him what gives him confidence that he'll see such a strong rebound coming off a year where sales dipped 14%? here is what he said >> guiding 21 as a single year from -- with mid to high teens and that will really be i would say the transition year. we think the sporting goods industry will grow double digit, double up gdp and we think that we should be able to capture market share in the key markets. north america, europe, and china. and the key channel cdc and with the product pipeline and the capability we have we are extremely well positioned to win in the sectors we want to win

in. >> part it have is the shift to director consumer dtc which has seen a lot of growth in the industry ultimately it is going to mean retailers are going to get cut right? who is on the chopping block how do you think through that? >> i don't think it is black and white. we think we'll get to 50% share in 2025 and coming from a 40 today. so there will also be growth in the wholesale. the wholesale partners that will grow will be the big digital wholesalers and in the u.s. dsg, finish line, kohl's, foot lockers. those who will also be around the specialized accounts i think those who are going to suffer in the years to come are going to be the mid size accounts with very little digital capability. >> doubling online as part of that nike has been so aggressive when it comes to dtc and digital. has that cost you market share >> we have seven folded our online business in the last five years so i think there is no doubt we have gained market share online that has not been the cause of disruption i think they are probably doing

a good job we grew 50% in a year last year. we declined 16 there is no doubt we have a very strong position and continue to invest very heavily. right now we are recruiting more than a thousand engineers to build an even better infrastructure for us. >> what happened in 2020 in terms of market share? it is reported that you did lose share and we did see growth out performance from nike from lululemon even your rival pumas. was it just not the right product mix that was resonating with consumers >> if you look we actually did grow quicker than our competitors in the u.s. for the fourth year in a row we did grow share in china we did lose a slight share in europe so overall on a global basis we maintain our market share. >> you have announced a number of new initiatives today including a partnership with el pton how is that going to work, the partnership with peloton, particularly because some of the instructors have relationships and sponsorship deals with under armour and others? >> we'll give you the details march 18th i am not going to disclose that today.

we are very happy and super excited about peloton. >> you mentioned jerry lorenzo there is a ton of excitement around his designs obviously from nike, fear of god has been killing it the label. when can we expect to see his product on the market? >> we think we'll see the first products coming out late this year and then of course coming in a lot more next year. we are working very diligently with him in our relationship, a great start. so the first part is coming out by the end of the year and much more next year. >> what is the broader plan for basketball haven't really seen much in the way of hype for basketball products from adidas i know you have james harden but nike has lebron and jordan and kobe and everyone else what is the plan with lorenzo and just to growth business? >> the plan is to move basketball away from the court and really look upon the lifestyle, it is going to be increasingly important and will help us not only on the court but off the court and getting that balance right has been i would say a chael nej the past

and why we signed up for this relationship >> how are you thinking about sponsorship strategy over the coming years more lifestyle brands and partners like beyonce or are you going to go more aggressively after athletes >> we'll continue to grow very -- go very, very aggressively after athletes. we believe our new strategy is really, our brand is rooted in sports we will of course continue to maintain and expand lifestyle partnerships like beyonce and a mix of both but sport is going to be the key area of sponsorship and investment moving forward. >> you mentioned north america is a big focus for you many americans are about to get another round of $1400 stimulus checks, a bump up in unemployment benefits. what is that going to mean for your u.s. sales? what is the link you've seen >> we think it is very important. we've seen that in the past in the last 12 months when stimulus goes into the market it goes to affordable luxury. we are in that category and people tend to spend around our product area

we are very happy when that is happening. of course what is much more important is you get the vaccine done you get to a sustainable environment where people can start working again. that is going to be the real kicker the stimulus is good the much more important one is the vaccine and that will help us drive growth for the next years to come. >> on that front are you disappointed that europe has been a bit slow to roll out the vaccine? has that time line changed your expectation for the speed and scope of the european recovery >> we looked upon it and europe has not done a great job in rolling out vaccines for the exception of the uk. the rest of, you know, europe is really slow. it really hasn't changed over a long term plan but of course it has been a very slow recovery what's happening in europe whereas most places in the world are open strategically it doesn't change anything i think it really undermines the importance of sport that people want to go out and exercise and start living life again. >> kanye west. you know i won't let you go without asking about that. you mentioned easy what are sales looking like

right now versus where they were a year ago you've gone more mass market but you're not seeing the kind of resale values on some of the easy sneakers we were getting early on what's been the trend? >> kanye is still an extremely good partner and we've been super happy and are with that relationship we take the product global there is a huge demand when we do launches. we've expanded the business over time and that of course has also an impact on resale value but consistency, completely a hundred percent sell out when we do a drop in america, europe, or china. the relationship with kanye continues to be very successful and we are very happy with that relationship. >> does he still want a board seat is there any consideration of actually putting him on the board? >> that is not something that is in my jurisdiction you know the governance in europe is very different than the u.s. the board seat is selected by shareholders in europe and i'm not the chairman of the board so i can't comment on that >> ceo of adidas, punted on the last board question on kanye west >> took the easy out

>> the story for adidas -- yes, exactly. the story for this company and this stock is it is growing. as you said, as he said, continues to grow for instance in the united states, really focused on china and europe as well but not -- it doesn't have the same hype or heat right now around brands like nike which is obviously the biggest competitor and lululemon and a lot of other atheisure brands that have done better during crisis even with the store closures he is saying they're hiring new designers, a very buzzy one for basketball, focused on the product pipe line the last 18 months and really pivoting on core areas eliminating extra areas like field hockey to try to regain the growth mantle. it always switches back and forth between nike and adidas and i would say lately nike has had it the market share figures for the u.s. foot wear in north america show adidas fell about 90 basis points to 9.5% market share last year. >> yeah, and the peloton stuff

will be really interesting to see when they get to those details particularly the level of exclusivity as you were alluding to because there are various deals it seems already out there. i think he teased us, not far away march 18th i think he said for the details of that. >>exactly. i thought you were going to comment on europe doing a bad job on the vaccine he was very blunt on that except for the uk of course. >> but understandable comment. we've discussed that before. you just have to look at the charts, the numbers still well behind the u.s. and uk roll out. glad arsenal didn't come up this time because it wouldn't have been a good comment >> i wouldn't do it to you again. >> yeah we've done it before still to come the maker of purell the hand sanitizer saw massive demand amid the kri coronavirus pandemic and now looking ahead to life after covid. a very rare interview with their ceo next hey frank, our worker's comp

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time for a cnbc news update. rahel sullivan has it for us >> hi, wilf. hello, everyone. the federal budget deficit has soared to the highest level ever for the month of february.

revenues did rise but spending to fight the pandemic helped push the deficit to $311 billion, really quadruple the deficit in february of last year the texas rangers say they will play their home opener with no capacity limits for fans if they do, the rangers could be the first major u.s. sports team to fill a stadium since pandemic concerns started shutting down sports about a year ago. fans, however, will still need to wear masks unless they are eating or drinking and speaking of sports, apparently less money for nfl players. the league has reportedly set its salary cap for the coming year it is $182.5 million, 8% less than last year, and the first annual decline since 2011. the pay cut is being blamed on revenue declines caused by the pandemic so 8% nothing to sneeze at but i think most would agree still a lot of money, sara back to you. >> yes rahel, thank you when we come back the ceo of go

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a family owned company that makes purell hand sanitizer. in january, 2020, carey kjaeros tkjaeros -- jaros took over as ceo just weeks before the entire country locked down. she joins us for her first ever tv interview great to have you here on "closing bell." in a minute or so what has the past year been like for you? >> thanks for having me. i am so happy to be here i can say in ten seconds the past year has been absolutely wild >> so what happened when the pandemic came on how did you ramp up production enough to meet demand and where does it stand today? >> so we did several things. pretty quickly the first thing we did last february when we could see that this was going to be a really significant surge in demand is we turned down all of our manufacturing 24/7 pretty quickly. that meant we had to secure more

components, things like bottles and pumps and caps and so we went out and creatively sourced that stuff from all over the world. we then had to hire people so we ended up bringing on over 500 team members pretty rapidly. then the last piece which has really been perhaps the most important is we pretty immediately decided to make significant investments to expand permanently our long term capacity and so we've spent over $400 million in 12 months. that is like ten years of capital spending for us. we've tripled the number of plants we have in north america and we are now able to produce really exponentially more than we were before the pandemic. >> so i guess the obvious follow up question is, are you confident that demand will maintain once we're through the other side of the pandemic >> you know, we really believe that the new normal is going to be about two things. it is going to be about visible hygiene, germs are invisible hygiene has to be visible. so it is going to be about

vicible hygiene and badge brands brands like purell that are really the most trusted brands in their categories. and so i truly believe the combination of visible hygiene which is, you know, sanitizer dispensers, really in sight anywhere that customers can see them, and the power of the purell brand means demand absolutely will sustain. it won't be at the levels it was at last year but is going to be exponentially higher than 2019 >> i was going to ask you about the strength of the brand, carey, given so many more companies are now making sanitizers a lot temporarily. we saw the distilleries, alcohol companies, the beauty companies get into it. are they still doing that? is it a whole new competitive threat out there with so much demand? >> so, sara, hundreds and hundreds of companies came into our space. the vast majority of them were coming in really quickly they were distilleries they were chemical manufacturers. they were sort of

opportunistically coming in to try to take a bite of the pie. most of the opportunistic folks have left. the fda actually banned 240 brands of sanitizer that came in quickly and were either unsafe or ineffective most of those are gone now you know, i think that consumers know, they know that we've been in this business we invented hand sanitizer in 1988 and have been in this business over 30 years we are obsessed with safety and efficacy and they're really voting with their feet our share is more than twice as high as it was before the pandemic and we were, you know, have been the market leader since our inception. >> purell clearly is all about hand sanitizer has this past year and the brand recognition that presumably you've gotten as people's usage of hand sanitizer has soared, given you a platform to launch totally new products that you're considering? >> so, you know, we are really dedicated to hand hygiene and to

cleaning the surfaces that people touch the most. from our inception we've really been about solving real human problems that have to do with touch. what i will say is that our purell surface spray and our purell surface wipes products, which have the same promise that same safety and efficacy they are food contact safe you can do it around your dog and baby they were sort of brand-new before the pandemic. i think they will really take off as a result of this. >> we've seen a lot of price gouging, especially on purell early on it's hard to get your hands on a purell hand sanitizer. i've seen them return back to the shelves. what's been your strategy on pricing as you have had to make adjustments on manufacturing >> you know, one of the real benefits of being a 75-year-old purpose-driven family enterprise is -- it wasn't a hard decision at all we did not raise prices one

penny at any moment throughout the entire pandemic. we still haven't and that was in the face of cost of our supplies going up dramatically, ethanol, for example, was through the roof. we felt like given our purpose of saving lives and making things better, that waen the right thing to do. >> interesting story thank you for joining us one year later and keep us posted. >> thank you so much >> it's got to be one -- it's crazy that it's still a family-owned company surprising that it's not part of one of the big kpgs. >> right and also rare that you don't see this sort tied to the product with the parent company and surprising not to see perhaps the aim to capitalize and get purell out there more widely but there we go. fascinating exclusive. >> without higher prices >> still to come, the security front and center among the massive microsoft pack, and now

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former secretary of defense ashe carter is issuing new warnings stay tuned fore cnbc's "on the edge6:" 00 p.m. eastern time tomorrow "closing bell" will be right back

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the recent wins in microsoft reveal big vulnerabilities and now many are raising the red flag amon is here with the story. >> hey even as the biden administration is learning how to respond to russia and ashe carter spoke to a yale ceo summit today to make the case for a firm retaliation. >> if someone attacked you in one way, i don't have to respond in that way. you look at their entire surface of vulnerability and you go where you can hurt them back both the russians -- in my experience, both the russians and chinese do respond to pushback, and it does escalate out of control. >> carter says he wants the u.s. to respond by promoting democracy in moscow because he said vladimir putin is most afraid of anything that hits at his political status and legitimacy when you hear a former second of defense talking

about reinstaliation and managig escalation, this starts to feel like a new cyber cold war. back to you. >> oh. great. thank you very much. as we wrap up the show, mike, looks like we got a record high close on the dow above 32,000 for the first time ever the nasdaq finished flat, which speaks to the die vergens we've seen in the market and what works. banks, cyclical stocks, industrials, materials, energy, that's going to happen what will you be watching for tomorrow >> all the same stuff. but we get the labor market indicators, the jobless -- it's amazing. we're talk about 7% gdp growth we have four million continuing jobless claims it's a strange kind of mismatch between the current data and what's anticipated seeing the bond b market reaction to those numbers might be a tell. we have the s&p going sideways

for a few weeks now. >> a tech was the only sector lower today. some high profile name like amazon, facebook, tesla. the record close for the dow so we can't kplain. the nasdaq 100 is only up twrirds two-thirds of a percent. >> i'm melissa lee and this is "fast money. tonight on "fast," a penny for your thoughts on amc the reddit favorite moving higher in the after hours earnings but one dropped a bombshell of a call on this stock. why he sees amc headed to, get this, one penny a share. you heard that right the ultimate bear case coming up plus, gee whiz, ge the company with the idea of a reverse stock split.