mustang call, but for steve weiss and josh brown and myself, we are sticking with gm and diamond hands and weiss, you are my man, and i need you to hold this. >> i like it. >> and enjoyed it, guys. thank you for watching. "the exchange" begins now. >> thank you, scott. i'm jon fortt, and this is what is ahead. the market has come a long way since the pandemic was declared exactly one year ago todaya and we are going to be looking at how far we have come, and ask the question, what comes after the incredible momentum, and bitcoin is up 627% in the last yearsh and we will look at the factors that could keep it going or not, and two under the retail plays to keep the economic reopening going, and they are very under the radar, and dom chu with the numbers. >> what is glaring is the record highs in the marketplace right now. you see the green across the board, and the nasdaq composite

is up 2.5%, and the real standouts from the perspective of the relativity is the dow industrials, because that is a record high for the yellow star there, and the s&p 500 hitting a record high. so two record highs and outperformance and the nasdaq is 6% below the record highs from earlier in the year. one other place that is hitting a record high the russell 2000 small index which tracks at the iwbm, and it is again, up 83% over the course of the last-year period and compare that to the nasdaq 100, and the biggest cap names of the nasdaq sup a respectable 63%, and so again, the outperformance is really coming just so far in the 2021, and watch the small caps. and then the ipo of the day, and some people call it the amazon of south korea, and they opened up for 63.50, and thereabouts, and it did hit again a little

while ago at $69 a share, and again at these levels the 100 billion valuation and traditional ipo and it feels like since we have talked about road show indicated level and pricing above level and that thing without talking about direct listings and spac and keep an eye on coupang and those stocks are up from the original price. >> and do we call them road shows, but are they zoom shows >> yes. >> and today marks not only the one-year anniversary of the pandemic being declared, but anniversary of a decade long bull market. >> that is going to do it, carl, bear market nor dow. >> at least for the dow. s&p 500 not there, but we are going to put an end to 11-year bull run of the dow as it is closing around 23.5. >> and looking at that is sarah

k ketterer. and so given the short stumble that bull had, and then the search for yield that we got right now, and what is the most reasonable thing an invester to do >> well, speaking as an active manager, go active and in the index, you will get what performs well, and the striking effect of what happened with the market lows of last march is that the cyclical stocks have led the way, the materials and the consumer discretionary and the industrials have powered ahead, and the stocks left behind were in more defensive areas, and the investors may have wanted to be defensive, but that is the wrong move. for causeways international fund and global fund, we have made a lot of money for the investors by being cyclical at the time when the market was depressed in march and then began as the

vaccines came on to anticipate economic recovery. so after this, once you take some profit in the cyclicals, maybe it is time to move back into the defensive stocks. >> yeah, well, i can see where you are coming from there, and troy, i got to wonder though, because often when there is a downturn of some sort or upturn, stock pickers' market, if you had piled into the s&p, and you had done extraordinary well trying to pick or not work during thiscovid period, it ha been extraordinary, and see what you want to do, and what would you have done? >> well, the broad global financial crisis period, and once we continually elevating the equity mobiles like bank largess, and so there is nothing wrong with having a broader index exposure, but if you can

pick up the defensive exposure, and we are heavy in the post equity coming out of the crisis and some of the names are ripping whether they are gaming or athleisure, but paired with the barbell approach with the transformational technologies or the new asset classes poised to appreciate like the bitcoin or the biotech and the health care names that set you have to be balance and not subjected to the whip saws between the value growth or the cyclical growth or modestly outperform as we have in the past three months. >> take a pause here with a news alert for the 30-year bond market as we go to rick santelli. >> thanks, john, with this auction similar to the 10-year auction. 24 billion and 30-year bonds wrapping up a 10-year three-year

at 2.29 and that was the high trade in the issue that i saw. so this is obviously tailing a little bit, not good. looking at all of the metrics below average except for one. maybe the most important one, the indirect bidders, okay, indirect bidders were 60.6, and that is not good, but the direct bidders were 20.2, which is kind of the opposite of what you would want to see if the mantra of the viewers were the japanese who were the aggressive buyers and the indirect bid should have been healthier, but the direct bid and those hedge funds and mutual funds were aggressive in the auction, but once again, i was generous, because this could have been a d-plus auction, but it isgoing to show you that no matter how much the traders think that they can dance between the raindrops, there is not a lot of buying going on in the treasury complex at these prices and yields, and jon fortt, back to you. >> rick santelli, back to you,

and sarah, talking a little bit about the 10-year, and back to that in a moment in light of that, and how much should investors watch that if at all, and i'm talking about traders and investors given what the fed is still saying about interest rates. >> well, our team watches the 10-year carefully, because we expect even upward pressure on the yields as the economic recovery takes hold, and remember that this recovery is powered by a massive amount of monetary and fiscal spend globally, and in the u.s., we have not seen anything like this in world war ii in terms of fiscal spending, and all of that should push bond yields up, and the rising bond yields are great, and again for some of the stocks that have had historically lower valuations that are what we call the shorter duration, and they are going to deliver now with the dividend and the cash flow. >> and are they great for roadblocks or great for, i don't know, about these coupons and

the stocks coming out seen as more risky, because they aare reacting negatively to that. >> excellent point, and those that are longer range will deliver cash flow farther out into the future, but don't do it today, because they are sensitive to the rising rates and likely to sell off, and we will see them favoring the stocks more sensibly priced. >> all right. well, you have been warned, right. sarah ketterer, thank you, and troy as well. in fact, the dallas fed said that the pandemic forced the steepest decline in that state, and this week, they opened up 100% capacity and even dropped the mask mandate. we go to austin to see what the lone star state faces. kate >> well, jon, we are live in austin and known for the party

scene and live music and festivals and barbeque, and both the city and the state as a whole have been greatly impacted by the tourism declines over the last year, and estimated $37 billion in economic impact has been lost for texas in the first nine months of 2020 according to the texas travel alliance. in austin alone close to $1 billion has been lost to lodging events and big events like south by southwest virtual after being canceled last year, and some in austin are ready to take a step back to normal here as the capacity increases they were expecting the crowds this weekend and next week for spring break. but there is a new and interesting wrinkle in the city has the leaders are saying that they will continue to require the masks going against the state's orders, because texas is open, not everyone is ready to go back to normal. eric silverstein owns peach store tea and he is going to stay at 40% capacity and still require the masks for the customers and some pushback, but

it is not the right time. >> as a business owner, nobody is more pro business than me, and i want to go back to normal, but given the trajectory of where it stands, it is more prudent to wait 60 or 90 days. >> reporter: and the city says that of course, it is keeping the mask mandate in place for now, but the texas a.g. said that the city and the county had a few hours to comply with the state or he threatened to sue them, so masks on or off, plenty of drama in texas. >> yes, kate. i am confused because the state is pushing back to the city, and yet the police can still arrest people who don't abide by a business's rules. and so the businesses can set their own rules, but the city can't? >> so businesses are, you know, private businesses, and they can ask you to wear a mask and have the workers also wear a mask now. under the governor's orders

nobody can be jailed or punished with not complying with the lift, but the larger county is saying that we are keeping the mandate in place, and a lot to push and pull of how enforceable it is, and potential fines, and looks like it is going on the wind up in court if that winds up happening. >> all right. texas. kate, thank you. coming up, if you want to bet on the retail reopening, but you missed the rally in some of the bigger names, two under the radar stocks that one analyst says has a lot of room to run, and we will look at the doughnut effect happening in the real estate market. after the break, the nasdaq top 100 performers happening now, and you can see them, including marvel tech and moderna. we will be right back. all right that's a fifth-floor problem... ok. not in my house! ha ha ha!

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welcome back to the exchange, and it has been a year since the world health organization declared covid-19 a pandemic. consumer confidence suffered a massive shock and sensitive to each spike in cases and we seem now to be trending in a stronger direction and one defining direction is home improvement spending as many moved out of the suburbs into the cities. to donut effect is going to drive a tale of two economies

and here to discuss this for what is next for consumer is steve oddland, and good to see you, and i can't help but wonder what is happening next with the trend of out of cities and into the suburbs an might it snap back in some places stronger than some people expect, because the economy really needs cities, and at least certain cities in america, right >> well, yeah, i think that the things ebb and flow, but the longer the shock period, the long teer the recovery period, the same as any black swan event. so this pandemic has been upon us for a year, and the behavior is going to continue through the course of 2021 where you have people that are just tired the of being cooped up in their small apartments in the cities, and moving out to try to get more space, and then you can see the office space in the inner cities, and right in manhattan, not occupied at all, and so

there is an incredible drop in the price as the supply has come back on the market. so it is just like it was in the '60s and the '70s where there was a move from the urban to the suburban area, it is happening again, and the question is whether it is going to stick this time. because once we get through the crisis, and once offices open, you won't have 100% remote work or exactly as we had it, but in between, and so it is still going to be then, more convenient to be in the cities and so forth, and so to ebb back over the course of two, three, four, and for the time period now, urban centers are clearing out. >> and that is why i wonder where the opportunity is, and is the culture really going to shift to the suburbs, and those restaurants, and the suburbs are going to shift, because what is the economic behavior going to be now versus what we have seen in the past, and the landlords who would not negotiate with the

restaurants, and what they have to shutdown and are those restaurants going to move to the suburbs to reopen or now a better deal from the landlord and reopen in the city >> yeah, it is going to be a combination of the two, and remember the lease terms matter here, and in the offices, you have 10 or 20-year terms, and they have the hands tied and they are negotiating lower prices. and landlords are planning on that. and in the cafes and restaurants, they have shorter-term lease, and they have the ability to move. and a lot of the kiosks are popping up, and mobile places that don't require real estate or very little. so you will see more ebb and flow, so when you areb laoing at the -- are looking at the consumer confidence, it is confidence that is driven by ceo confidence, and main street is a

little bit more resonance, and consumer confidence is down, and down by a third, so all of this is going into the mantra that it is going to take us a long time to get back to where we were. >> how should investors think about for example the services sector, and how it recovers from here, and the looming possibility of federal minimum wage change, and also, the question of automation, and how processes are going to change at that level of the services industry, and how much is going to be done by people versus machines >> yeah, all of that is real. the federal minimum wage increase kills jobs an benefits the people who are not the beneficiaries and it kils automation, and happens over and over again, and this is a small

impact on the overall economy and inflation, and that is another thing that you have to watch through the cycle is what is going to happen with the inflation, and the fed has said that they are confident that the inflation is going to be staying low, but the actions are tied to that, and labor is one component of that. so i think that you will see, some of this play in, but it is not going to have a dramatic effect. remember, we are still going to have about 8 million people out of the workforce versus prepandemic, and that is a lot of play to come back in, and supply. >> yeah. we are going to need them in the economy for sure. steve odland, thank you. >> great to be here. >> as the economy continues to reopen, my next guest says it is time to ride the discretionary wave, and luxury is the way to go. now to join me with the under the radar plays, we have oliver chan. and oliver, luxury is the way to go, and so it is going to stay a

bifurcated economy, right? >> yes, we are optimistic with the health of the consumer, and so that is going to be the last 12 months, the s&p has been robust, and the average of the payments in terms of the unemployment and stimulus are all going to be nice positives and clothing and footwear, and pes in the 20s and versus the 6% arn averages are positives, too. and so my trace and bar fetch are native platform which is a great place to be with the luxury goods going online, and luxury will be an attractive category as the consumers are optimistic and all of the opulentism will be as well. >> so is that why the bricks and mortar and omni channel is what people are talking about to create the luxury model that is

digital in nature? >> yes, it is critical. the announcement at saks to invest behind that business takes a lot of capital and r&d and i.t. and scale to run that business. nordstroms had a pioneering approach with the local market strategy and very customer service orientated, and so this digital focus is here to stay, and accelerated and more and more important as the customers are mobile first and looking for the exceptional convenience. >> make i was thinking of saks, because i get nordstroms and saks mixed up, and not to say that you are bearish on the targets and wal-marts of the world because you like luxury? >> yes, and there is a bifur bifurcation, and where customers are looking for value. and costco has pulled back and down 15% year to date, and that is an idea that we like. thinking of value and the future

of the retail. and walmart and target are multi category broadline retailers. shoppers are going fewer trips to the store, but buying more. and the exceptional value, and the walmart's pioneering strategy of lower prices continues to resonate with the consumer who is looking for value and luxury. >> okay. opportunities at both ends. thank you, oliver. >> thank you for having me. coming up in another high profile ipo, amazon's cowpang. and why more americans may find more time in a sci-fi drea than in reality. and nasdaq is up 2%, and the index has rallied more than 100% since the 52-week low.

and in all, 36% from the all-tie high.

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taking a look at some of the movers. s semiconductor stocks making a comeback with corvo and nvidia making a move. and now, tesla and others in green, and investors are betting on the gaming, boyd, and wynn in the green, and g.e. is the worst performer in the s&p 500 falling down in the oppenheimer. we go to rahel solomon for the latest. >> and now, reforming gun laws for the first time in more than two decades. state lawmakers are now demanding that governor andrew cuomo resign. they are asking him to step down

because of sexual harassment claims and cover-up of data related to deaths in nursing homes. and myers leonard has been fined for a racial slur. and if legalized, marijuana is going to be one of the largest markets in the world. and tune into shepard smith about two countries sandwiched in between two countries that sell marijuana. and bitcoin has been up huge. and goldman sachs is seeing more demand ahead and we will tell you why. it is time for what we call show and tell. we will show you the chart and tell you the story. the stock is bumble. the ceo whitney wolf joining squawk box this morning to discuss the opportunities that she is seeing for growth.

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let's catch you up on a few stories that should be on the radar and time for rapid fire and here with the takes cnbc editor deirdre bosa and platform editor and cnbc contributor

steve kovac and making debut casey newton. first topic, the amazon of south korea making the nyce debut. and the 4.5 billion it raised is the largest u.s. ipo so far this year and asian company on the exchange since alibaba which is huge, and so deirdre, you have been following this, but i don't know, this kind of the valuation of the market cap on a country whose operations are entirely based on the country of 51 million people right now, i mean, come on. >> yeah, you know what, jon, i am with you, and i know that we asked the vision fund partner this morning a question from me asking about the international plans, and lydia jett said that there is enough to do in korea and that is an important point,

but it is a company called korea's answer to amazon, and so it is far from that simple. i mean, it has one thing, and it is amazon with one thing that it does, and that is a high margin profitable cloud business. cowpa coupang has profitable margin like that injection from amazon, and that i have to believe it is going to be profitable, but it is cash flow negative and amazon was cash flow positive eight years into existence, so it is not that simple. >> and kay s casey, you buying t >> well, if we learned one thing over the past year, it is the runway for ecommerce looks almost totally unlimited, like ever a moment like coupang to turn around and get cash flow positive it is when so many of us are stuck at home.

>> but, steve, i mean, that run way can drop off quickly when it comes to the market? >> yes. that is totally true, and what is going to happen when we get vaccinated again and getting out into the real world and going to shops and bars and restaurants is that momentum that we have seen over the last year now going to continue in ecommerce, and it is going to be interesting experiment to play out. >> yeah, and fantasy sports, too, and are people's attentions going to be turning to wasting their, i mean, spending their money or investing their money or what they are doing, steve? >> depending who you asking. >> that is right. it is, and i mean, we are seeing the pandemic fueled trading on robinhood, and we have seen it is all. does it all, clubhouse chats, is that going to disappear or going out in the real world again? i don't know. >> well, let's move on, and up next is the gaming platform

roblox saw the trading debut, and expecting big growth betting on the concept that once seemed to be a science fictionmetaversr and play, and you once wrote a piece about trying to pi -- define it, but you have have kids playing it. >> it is like "ready" the movie, and you have strapped on virtual headset, and you have this currency of robucks and they will have millions and billions of people in this metaverse doing everything from not just gaming like it is today, but

they see it for shopping and work and for play and socializing like we were just talking about, and we have gotten so used to socializing digitally and teleport to each other. and that is where it is coming from. >> but casey, inflation inside of the metaverses, and something that you pay a certain amount of robucks for is entirely different for today, but investors are betting real dollars for, right >> yes, and there a huge amount of opportunity here, but the thing that i keep thinking about is platform risk. roblox is at the discretion of apple that is operating the app store within the store that is something that apple has been looking down and i believe in metaverse, but i don't know how roblox is going to get unless it builds its own hardware to get into, and if that is something that steve has looked into, and if they are considering it.

>> yeah, we talked to one of the investors about that -- >> and deirdre, we have talked about the apple's app store, and you think that a lot of the developers are getting value out of that, and roblox' model is similar with the amount of take from the developers who are operating -- and as they are bigger if they are worth this valuation, are they going to run into the problems eventually with the developers saying that we don't want to give you all of that money >> well, the thing is that when you have a metaverse, the opportunities are limited and i also have to respond to steve quickly that "ready player one" was a better book than movie, and back to the point, jon. they are looking at things like advertising in the metaverse and the opportunity for monetization is almost, you know, limitless, if you are looking at the digital advertising companies and how much money they make, but this is my question, when we are talking about the metaverse, can there only be one? and can fortnite have one, and

my nephews, they don't think that roblox is cool, and they like fortnite and can you have a number of them or does everybody have to be on the same page? >> it can be totally separate metaverses, and they are massive, and so no reason that you can't bounce before one and the other like twitter and facebook. so you tune in, and pay for the concert, and see travis scott in fortnite and someone else in roblox. but the way that it is in the platform, we know that apple is working on the digital glasses and facebook said they would release their first this year, and this is a risk for roblox, because they will have to play by the rules of facebook and apple who builds platform for who these metaverses lives on and we talked to the roblox investors, and they seem okay

with that, and they are happy to get the tools in front of billions of people and letting them build the world and seeing how it goes from there. they are happy to live in the digital space and not creating their own hardware and that is their thinking for now. >> a lot of the companies out there, and young companies getting the platform valuations as if they are going to build sustainable platforms into the future and those who have covered it for a while know that it is hard. they don't all get there. moving on. speaking of robroblox, the comp can thank cathie wood, because the stock jumped after her firm purchased more than half a million shares worth $36 million for the etf of arkw, and they are up about 5% today, and 7% this week after getting hit hard by last week's tech sell-off. casey, you got some thoughts about, you know, roblox, and

this move by cathie wood >> yeah, well, funny enough, i have a 5 and 8-year-old nephew, and they love the roblox, so i maybe i am more bullish than deirdre is. so there is a sort of the truism in social networks that whoever owns the youngest computer users of the moment owns future, and there is a great argument that roblox owns the youngest computer users and they are spending a lot of money today, and presumably a lot more in the future, and so frankly, they have given roblox a huge opportunity to build out a whole set of social products, and if you are looking at what facebook, and twitter and others have done in the social space s and roblox has an incredible foundation to build around. so it is not at all surprising to me that investors are flocking to the stock now. >> and same time, marvel did and disney did a good job to buying marvel and lucas film to have different slots to move people into as they are aging.

it is not for them just about owning the youngest. all right. we will see. and finally the most expensive nft ever sold, and it went for $69 million at christie's today, but if that is too rich for your blood, taco bell is coming to the rescue, they sold out of the first menu themed nft's on the marketplaced five collectible tokens with pictures of tacos and they sold for hundreds at auctions and reportedly available on the secondary market for upwards of $20,000. deirdre, i mean, i am hungry and i have not had a chance to eat lunch yet, but i am not paying more than $100 for a taco.

you can't even eat it. >> can anything be an nft and we have the answer from taco bell. so this is real technology and here to stay. when do we getaway from the k kitche stuff and not just taco bell >> well, i don't know when you can go to the nfts and go for the real stuff >> well, there are real uses, and rob gronkowski is selling virtual trading cards as nfts, and the topps shop which has licensed material from the nba to buy a digital version of lebron dunking, and that is a real value if you feel like you bought this unique thing, and it

is a scarcity like a physical cardboard trading card and this is where the value is coming in. >> casey, i get it if this is like the certificate that authenticates the actual item, and ki thi can think of that be the nft 30 years from now. >> and look, the successful things look incredibly dumb or looking like toys, so a reason to be bullish on the nfts is the fact that genius brand marketers of taco bell have decided how to drive a news cycle with it. and the nba topps stuff is interesting because i was a former collector, and so the nfts are having an amazing day and incredible year. >> and nfts and bitcoin. >> have you bought any, casey? i wonder if he has bought any? >> at the old job, it was prohibited to buy the cryptocurrency and i'm in a whole new independent world. >> are nfts cryptocurrency and

what is this stuff we can buy the sports memorabilia and i don't know. steve? your verdict >> well, when sothebys is getting into real art. but i won't buy a mcdonald's mcrib, because it is a joke and funny for the headlinesb but the stamps or the trading cards or what have you that we have been collecting forever and have value. >> maybe the spicy chicken nft, and that is popular and that could work. >> yes, that could work. >> and now, noah davis of christy's is going to talk to us at "power lunch" about that record-breaking nft that just sold. that it is for "rapid fire" and thank grow the panel. now coming up, bitcoin is

topping 58,000 this year, and we are going to have a closer look at the tail winds that could keep the crypto rally going. we will be right back. has experienced e a locat four floods, a fire, a hurricane, and obviously now we're in the pandemic. this is during hurricane harvey. the water was like a river. - when you talk about nasdaq, people don't think about insurance or catastrophe risk but that's a product they offer. we have 12 companies that build these models. for example, we have fathom. they are experts in building flood catastrophe models and we get it through our nasdaq platform. so insurers would be able to provide the right guidance to janice and people like her project forwards the risk and actually use that to advise the policy holder where they buy their house or where they buy their next commercial property. - now we have this predictive flood modeling that we can go to and find out if it's gonna flood there

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welcome back to "the exchange." bitcoin has had growth since the world health organization declared the pandemic. looking at where bitcoin was a year ago and just below march 11th, 2020, it was around 8,50 and now it is topping 56,000. and now, what is driving the bitcoin rally, we bring in kate rooney and what gives? >> hey, jon. all right. i heard the nft conversation before this, and the bitcoin and crypto conversation is interesting, and it is climbing again today as the investors'

appetite for growth in tech stocks returns and we have some new stimulus adding to the appeal as inflation hedge. bitcoin is up for the seventh straight day today and the longest winning streak of the year so far. it is above 57,000 today, and getting closer to the all-time high of 58,000 hit last month. in the past year, bitcoin's strongest bull case has been the idea that it is a hedge against inflation. that use case promoted by paul tutor jones and some other billionaire investors, and adding to the fears of inflation this week, we had stimulus passed in the usa and the european central bank saying that it would accelerate the bond buying program, and despite the muted cpi data, some economists are worry nag the stimulus could overheat the economy and weaker u.s. dollar could make bitcoin which is not tied to a central bank more attractivement and another bull case, the institutional

investors getting in, and the goldman sachs president, and ceo saying that they are looking to explore how to meet the demand of the customers while staying on the right side of regulation. another tailwind, president biden's pick for fcc gary gentsler cleared a another hurdle toward confirmation, and he is seen as a forward thinking regulator about the asset and he taught a class of blockchain at m.i.t. and despite the safe haven, it is a speculative and volatile asset. it crashed to $43 a couple of weeks ago, but the high trades are back this week after the steep sell-off. jon, back to you. >> and people have forgotten, where it crashed severely, and a lot more than that, too. kate, with the frenzy around all things block chain and crypto. nfts, et cetera, what is going

on with ethereum, because so many different applications of blockchain, crypto, they are built on top of that. >> that is a great question, because the buzz around the nfts that you were talking aboutnftsg and in the case of beeble, that was bought with ethereum, so the thought that people are buying nfts with ethereum, that is sort of seen as a legitimizing moment and people are sort of looking to the next big thing, so that cryptocurrency has more than doubled this year. >> are people just parking money in ethereum or quickly getting dollars in, buying that and then that's it. kate, thank guy coming up, jeep has long held the title of king of the suv, but the brand lost

some of that alose in the past will bringing backle wagoneer turn it around snap, twitter, facebook, pinterest, all seeing nice gains. we'll be right back.

welcome back jeep is betting old-school luxury will give it a shot in the arm. bringing back two iconic names, but they don't come cheap. phil, when i think of wagoneer, i don't think of luxury like in today's sense. do they have some repurposing here >> well, it's -- the new wagoneer and grand wagoneer do not look like the old ones the new ones, definitely an emphasis on luxury and big, expensive items within that vehicle. the wagoneer and grand wagoneer are being brought back by jeep the regular will have a base price just until $58,000 the grand wagoneer starts as just under $87,000, you want to

trick it out, the price tag would be $111,000. the old wagoneer that we remember in the '70s and '80s they sold from '63 through '91 jeep is trying to play off the nostalgia of that name to sell a wag wagoneer. >> when you start with a name that already exists, i think for a lot of people they'll get it immediately based on the name. it helps to break through the noise, the clutter. >> even though the luxury suv market is a limited market, you're talking about people who also would be considering a lincoln navigator or cadillac escalade, it's important and jeep sales have been trending a bit lower. some of that is the market overall and some of it jeep has had a heck of a run, but it peaked out at 1.6 -- just under

1.6 million vehicles sold back this 2019, i believe as you look at the parent of jeep, they say they want to make sure that jeep continues to grow, when is a lot of brand that it's going to have to try to keep rolling. >> the move toward the suburbs that we were just stalking about, is this an ideal time for jeeps to do this >> i think so. with that price tag, the grand wagoneer starting at $87,000, you're good et into rarefied air. it's a limited number of buyers.

starting there that's like tesla suv territory, too, right >> oh, yeah. different buyer. >> we'll see, that wagoneer and grand wagoneer i like when they try to refurb that will do it for "the exchange." "power lunch" starts after this quick break. (man) i'm a verizon engineer, part of the team that built 5g right, the only one from america's most reliable network. we designed our 5g to make the things you do every day better. with 5g nationwide, millions of people can now work, listen, and stream in verizon 5g quality. and in parts of many cities where people can use massive capacity, we have ultra wideband, the fastest 5g in the world. this is the 5g that's built for you.

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stocks versus bonds, who will win of tug of war we will be looking at the reopen revival, and stocks booming along with it. later, the most expensive nft, sold for a whopping $69 billion. as "power lunch" starts right now.