staying right at -- sorry, bond yields staying at 175% tech stocks seeing the boost again. the nasdaq the leader today. thank you for watching "power lunch. "closing bell" starts right ow >> look who is in the house. >> i'm here. >> we are split screen here. we are all in the same place >> that's a normal shot. a normal shot. >> give me the mask. >> welcome to "closing bell" i'm wilfred frost, along with sara eisen both this the same house today officially marks one year since the pandemic began who would have thought we would be back at all-time highs. the dow's strong week getting stronger the s&p sitting at record highs. and the nasdaq is surging as we head into the close. let's look at what is driving the action president biden officially signing the covid rowly bill this afternoon pumping $1.9 trillion of stimulus into economy and sending $1,400

checks to most americans jobless claims remain elevated but pointing in the right direction coming in better than expected this morning. big tech is bouncing with the faang stocks all seeing nice gains, and the nasdaq as we said surging, leading the charge, up 2.5% as we stand, sara 59 left of the sigs session. >> it will be the first record close since february 12th for thes s&p coming up, bob diamond jones us with his take on the val tilt in the treasury and equity markets and what the newly signed stimulus bill means for america's recovery and of course the bank stocks. tesla getting a boost today after surginger inially 19% earlier in the week. we will talk to an analyst who just initiated the stock with a buy and calls it a 100-year disruptor. has a $775 price target. as we hit the one year mark of the pandemic we will be joined by the ceo of hyatt hotels to talk about the demand for business and leisure travel

going forward. first, the big stories we are watching one hour left of trading, mike santoli tracking the action. deirdre bosa tracking the biggest business traction of the year so far. mike start us off talking about the rally into one month tomorrow, we had a 5% shakeout, we had sec stocks fully correct down more than 10% the trend reasserted itself. it looks like a shakeout we are back into the up trend. even though there was frick at the 3950 level the intraday high from about a month ago things seem like they have locked back into gear. treasury yields haven't made a new cycle high for three days, allowed the growth stocks to come back. here is the european against -- never look at percent changes in the yield. what you can see is they can both go up in concert. yes, there are sort of fits and

starts along the way when yields started to rise a little bit too fast for the taste of the equity investor you have seen some gut checks. it does happen it is normal at some threshold there will be pain if yields go too high too fast right now everything is moving in a similar direction of repricing growth in a way that's more favorable also, what we also saw here was if you were afraid of the frothiness and the silliness going on in some single parts of the market they have all corrected. subsectors, spacs, the solar stocks, which were all down similar amounts. this is basically the same path they are all talking the arc invest flagship etf, ipos and cloud software. essentially if your big complaint was all this stuff was over extended at the february high asks sentiment was too inflated this period over the month has taken some of the froth out. at the same time, growth has

moderated to some agree. it won't take much to rebuild it to quidy levels. but now on balanced footings. >> now that we are talking about all groups working on a day like today, what does it halloween for valuations where are we how expensive is this market >> it is less expensive cosmetically than it was nine months ago because earnings forecasts keep surging we were at 23 times forward earnings in june of last year. we are now at about 22 it's certainly high relative to history. you have to go back about 20 years before you get to a point when we were in a similar range. but it's really not the eye cute issue it seemed to be last month because we were looking at a nominal gdp growth of 10 or 20%. it is not the time to nickel and dime what we are seeing in earnings right now at least why yields are and credit stands. >> with stimulus checks expected to partly reach the market this

the weeks ahead. a korean e-commerce firm making its wall street debut today in the largest ipo this year deirdre bosa has the latest. >> another day, another huge debut. cue pong already the biggest ipo of the year. it scored in its first day of trade. [ no audio ] more than just an e-commerce company. -- capital injection a few weeks ago -- built a network out of -- [ no audio ]

>> based on the ipo price alien per share it has made $17 billion. soft bank could -- [ indiscernible [ no audio ] key

-- being seen in the u.s. market was always sort of this golden standard for asian companies. that's why you saw alibaba come here first not as complicated for korean companies right now as it is for the chinese companies that are now looking at second listings in hong kong but, clearly, you know, we've seen the ipo market on fire. there was a huge appetite. interestingly, though, we talked to the soft bank partner who led the deal about international expansion ambitions. they she said they were kind of comfort number the korean market right now. it is going to be very hard to get into the u.s. market because of amazon. even in asia, alibaba has a hold on countries outside of china there. >> lots of amazon comparisons with this one. after the break, a 100-year

disruptor. that's what missoula is calling tesla. analyst has it rated as a buy. nasdaq up 2.5% s&p up more than 1%. on track for a record close. you are watching "closing bell" on cnbc. flexshares are carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. lately, it's been hard to think about the future. for a prospectus 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.

tesla has seen some wild swings lately. the stock is up more than 11% over the past week, still 23% below its all-time high. mi sue hue issuing coverage on tesla calling it a 100-year disruptor. joining us, the analyst behind the call does your bullish call have anything to do with the fact that the stock had an unusual few weeks, down more than 25% from the highs. >> thank for having me on? we have been following the market and we like the space but i heard that "squawk box"

"squawk on the street" this morning the valuation on tesla i wanted to explain how differentiated we are. we look at tesla more as a technology company rather than automotive we think the keys to the ev market lies in the battery leadership that tesla has, the hardware leadership that tesla has and also the integration w. that leadership we think they can get to 10% of the automotive market by 2030 that's not -- very achievable because if you look at the market today, volkswagen, toyota, all of them have in -- again, we used 11 times the sales for this easy to get to, if you look at the sem conductor technology space, names like nvidia, intel,

texas instruments all trade somewhere in the five to 18 times. we think it is an effective valuation here definitely it has a long -- very strong road map ahead of it. very differentiated. very well -- they own the factory and the hardware, which no oem in all the world -- nobody globally owns their own factory or hardware. it is fully integrated almost like apple. >> number of questions there, based on your call one of them is it sounds like a lot of it is on market share isn't tesla losing market share particularly in europe as competition ramps up >> if you look at tesla, they have only less than % share of the total lvt market if you look longer term we think they can grow 50 or 60%an the

top line we can had 10% of the market looking out ten years. what can drive that is the cost leadership they have that are own hardware, their own factories. what is holding back other oems is battery supply. they have to rely on third party suppliers, they have the rely on technology for the battery suppliers. with tesla, they have the battery supply, their own technology, it is 50% cheaper than what you have out there right there they have have a cost leadership versus any of the competition, the legacy guys if you look at battery, it is 30% of the cost of the ev. getting the cost right, getting the supply right s key to leadership so in the near term, it might be quarter to quarter, you have frukt situations but i would say focus on the long term. this is a big disruptor. you are missing the forest lieu the trees. they have their own technology and they control hardware, software, to battery, chassis.

they can control their costs ahead of the bunch. >> what is the biggest risk? >> the biggest risk is always in terms of -- if you have a bigger company there is risk. launch risk, execution risk. those are things that that can happen, that have happened in the past with test l.a i think what is different this time 2020 was very different. they got the tonight to raise a lot of capital and thousand they have a big capital cushion. they can fund a lot of these -- the factory road map and that puts them in a much better position than where they were just two years back. >> what about profitability? without the credits they haven't shown they can make money. what changes there >> absolutely. that's a good point. it talks to exactly what we just spoke about. if you look at the ev battery is 30% of the cost of the electric vehicle. if you are any of the legacy oems, they depend on flyers like

panasonic to pass down theert about. they content control the battery road map here we have test that come in, they are talking about getting the battery cost down 50%. that's getting the price of the car down by 10 to 15%. that drives a better pricing for them chain and volume for them. better margins for them. not just battery manufacturing as a whole more compact manufacturing, more competent grated manufacturing with their batteries the hardware they don't have to buy from outside it is their own hardware they are not hostage to somebody else's road map. all of that drives a faster efficiency in the whole supply chain. >> thank you for joining us. appreciate it. >> thanks for having me on. >> great discussion on tesla on "closing bell. no doubt there will be more on. >> quok in the box. >> up next, game publisher row

blocks is jumping again after surging in yesterday's session the long term strategy could be about more than video games. how companies may try to cash in on the digital ecosystem ahead as we heado tthe break, check up some of the top ten searched tickers owe blocks is up there tesla, apple break. we'll be right back

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welcome back 41 minutes left.

up 2.6% on the nasdaq. let's look at individual market movers payment stocks getting a boost after a note from moffett nay thans on how the stimulus bill could lead to more consumers depositing checks into digital waltz. square expected to benefit the most from this up 6.5%. paypal up 5% shares of crocs are higher after announcing its second slab rags with justin bieber pairing the lavender clog with tall white socks from the drew house. baseball bieber's clothing brand. the bundle will be available in limited quantities march 16th. crocs shares jumping 5%. >> i have more to say about the fact that he is wearing them with socks crocs are okay crocs with socks >> people do it. i have never worn them either way. they look ridiculous with all those things on it

>> they are hot right now. they have been on five up 5%. the bieber clap has been bullish maybe time for crocs with socks. time now for a cnbc news update. >> the u.s. postal service says it does not plan to close any world post offices the postmaster general says it is looking elsewhere for cost cuts as part of its now strategic plan. the maker of oxycontin says they are reportedly offering $4.3 billion to settle opioid litigation that's a increase from the previous offer of $3 billion. uber and lyft say they will share information about banned drivers. they are creating a database that will help track drivers who have been accused of saul and other sexual crimes. tonight president biden gives his first primetime address since taking office. he says he will talk more about how the covid relief bill will

be used. >> thank. after the break, texas reopens. we will head out to austin for a look at how businesses are doing in the state now that restrictions have been eased plus we will talk about the return to travel with the ceo of hyatt hotels as we head to break a check on bonds. yields higher today. they pulled back earlier rising again, only slightly, 1.52 on the ten-year all the things, all around you where you learn, work, and fly

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right near session highs with the nasdaq up 2.6%. it has been exactly one year since the pandemic was declared, bringing store closures and economic hardship to much of the country. yet while many states are still imposing mask mandates and keeping restrictions, texas has lifted theirs and has opened businesses back up kate rogers is in austin with more on the reopening in the lone star state. kate >> reporter: austin is nope for

its live music, festivals, parties and barbecue of course but both the city and the state have been impacted greatly due to declines in tourism an estimated $37 billion has been lost in economic exact for the texas travel industry for the first nine months of 2020 compared to 2019 in austin alone close to $1 billion has been lost in hotel and lodging revenues over the last year. just because texas is open not everyone is ready to go back to normal eric silver steen owns the peach tortilla and says he will stay at 40% capacity and still require masks for his customers. >> as a business onner nobody is more pro business than me. i want to get back to normal i think given the trajectory of where things stand i think it would be more prudent to wait another 60 or 90 days. >> reporter: the texas a.g. said the city and county need to comply about the state's orders on lifting the mandate whether it is masks on or masks off, plenty of drama here in

texas. so as states start lifting restrictions and businesses reopen how will hotels fare this year joining us now, the hyatt ceo and board chair of the hotel and lodging association. thank you for joining us. >> thank you for having me, wilfred. >> before we get to outlook and things going forward, the recent earnings were a bit of a miss. was that driven more by costs being more elevated than expected or revenues taking longer to pick up compared to expectations. >> i think the revenue picture from the fourth quarter -- into the fourth quarter of last year was relatively close to what we would have otherwise expected. and we did have some additional expenses heading into the end of the year, mostly in providing support to our hotel owners. that actually is what was a key driver of additional expenses that were really services that we elected to keep up at a higher level than the revenues

were justified because we wanted to be able to support our owners as much as possible. >> in terms of outlook from here, are you in the camp that does believe the leisure will rebound quicker than business. what about the idea that conference business may never get back to what it was? >> since the beginning of this year we have seen net bookings increase on a steady pace through current times bookings into spring break and over the summer and even place holder bookings for holidays later in the year so leisure has been the key driver but i would say to you the upside surprise that i think will have the potential for being a little different than what people expected is group business and meetings. and we are seeing some signs of life in that dimension i think the rumors of the end of

big conventions and meetings are greatly exaggerated. and we are seeing some now corporate bookings into the second third and fourth quarters we are hopeful that we can maintain that. i do think that the next few months will continue to be a bit choppy just by virtue of the fact that we are not all the way through the wide distribution of vaccines at this point but leisure continues to be the major driver we see that there is a clear path the recovery from here. >> were you disappointed mark that the cdc in its list of recommendations for people that are vaccinated still says to avoid travel unless absolutely necessary? or does that not matter? >> well, i think the evolution of being comfortable with travel is twofold it is vaccines, but it's also testing and being able to track test results for people who are attending a meeting or how that will come together we just recently did a

partnership with vera flight which is a digital platform that a lot of airlines around the world are using including our partners at american airlines for creating a digital platform for verifying your status with respect to testing or vaccination. so i think it is actually doing to be a combination of vaccination and testing that's going to allow people to fully confident about getting back on the road. >> mark, you gave an interview recently to the ft, an open and honest interview it was interesting to read you admitted how tough the past year has been. i wondered whether you would articulate some of that for us now and whether you are kind of past the worst of it and getting more optimistic? >> yeah. thank you for asking the past year was by far the worst year that this industry has ever faced there have been over 3.5 million jobs lost in our industry alone that represents 39% of all jobs

lost in the united states over the last year. so it has been devastating obviously first and foremost all of our people -- and this is a people business. so the experiences that i shared with the ft really related to how challenging that was it was really emotionally very devastating the me personally to have to furlough or layoff so many people as our demand really collapsed, you know, in march and april of last year we have come from a low point of 22% occupancy in this industry in april of last year -- and the industry ended -- the last week of february was just under 50% occupancy. so we have come a long way it's also true that we have a long way yet to go we -- just under 50% occupancy in the industry is great but that's only about 60% of where we were two years ago. so we have more to go. i am optimistic that travel will fully recover. i think that the use cases, the businesses will find will

continue to evolve and what we have done over the last year is really applied ourselves to the practice of empathy both to care for the he will being of our own colleagues but also to better understand what our corporate customers are looking for. in many cases they are looking for something different that's going to create hybrid opportunities for digital platforms and also personal experiences and also, very importantly, the well-being of their own employees and people attending conferences that they hold so we are really leaning heavily into holistic well-being we think it is essential to the future. >> what happens to all those jobs, mark you said travel will recover and your industrial will recover do awful those jobs that were lost recover we watch the travel and hospitality segment of the jobs report every month still a big hole, 3.5 million jobs still out >> i think it will come back, but i think it will take some time i think one of the key things

that the industry will focus on is now that the paper rescue plan has been passed and signed into law we are focusing our attention on something that's more specifically focused on bringing the people who lost their jobs over the course of the last year back into totals to be able to get back to work i think the hotel ownership groups, which are largely across the country, small businesses. they need assistance to do that. that's what we are going to be focusing on from a legislative perspective going forward. >> i wondered whether to end whether you could give us a couple of specifics. which location around the world will bounceback the quickest and which will have the toughest 2021. >> resorts have been overindesignationing in business across the whole world, especially this the u.s. the caribbean and mexico we have seen the strongest

bookings into those destinations, part of the reason is because leisure business is leading the way here the demand in china last year was very strong through the end of the year. it is back up significantly halfway through january because enter preferencetial travel was shut down by the government. we are seeing signs of life there. i think the toughest markets will be gateway that depend on international travel i think those will be the market that have a tougher 2021 than others. >> are you allowed to ask customers whether they have receivedthe vaccine or to show some proof of a vaccine? can you do that as a private company if we don't have larger rules about it like israel is doing? >> we are not requiring vaccination to be able to stay at one of our hotels what we are doing is creating a digital environment that will help anybody who is cop convenienting people at our hotels understand what the status of the attendees to their

meetings might be. and i think that over time we have really focused on testing platforms that we can deploy at hotels so we have on property testing at a number of our resorts throughout mexico and the caribbean to allow people to be tested on site and meet the travel requirements for coming back to the united states for example. i think that -- you will see that deployed significantly between now and the time that we reach herd immunity. >> mark, thank you very much for joining us interesting snapshot. >> thank very much. we have got about 25 minutes left to go before the closing bell here's where we stand. technology is the leader today that's why the nasdaq is jumping 2.5% near session highs s&p 500, 3940, on track for a record close 1% higher. a little off the highs there the dow is up .6%. shares of bumble popping on poe heels of its first earnings rert we will hear comments from the company's ceo about the quarter coming up. that stock up 16%. he best” by joe esposito]

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dow is up 213 points off the session high, which is 365. up two thirds of a percent nasdaq up 2.6% 22 minutes left in the session

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economically will be driving the recovery forward, i think europe will be a little bit further behind and i am concerned about many of the emerging markets being further behind yet again just in terms of the vaccine rollouts. i think a lot of the u.s. is going to take off economically as we talked about, there is going to be a group that we have very careful, make sure that we bring them along, too. unemployment is likely to lag. the gdp recovery so job creation, investment in infrastructure -- those areas are going to be very important but i think we will see a little flip towards the end of the spring >> i also asked gm's bear lee barra for her take on which markets she's most bullish on right now. >> we see a lot of great things in the united states and strong demand it was frustrated last year by the fact that we didn't build vehicles for a handful of weeks. now -- it is a short-term issue but the semiconductor issue.

so demand is very strong really, that's globally impacted from a chips perspective we are seeing improvement in china as well. you know, but i think there is still work to do in south america. probably the united states right now we think there is huge opportunity. >> we will have more on frasier's strategy at the bank her new role later in the he shot of course i asked, she is ten days into the job in her beautiful office with the fireplace and -- >> is that her office or her home. >> her office. a winning zoom shot. if you look at what's worked lately in the market, citi group has rallied along with financials i know you said it lagged the broader group but lagged the bodder group same with gm we talked about electric vehicles and mary barra's ambitions to go all electric has

been impacted by the pandemic but demand is stronger all around the world. >> they have had a cyclical rally but most of them remain cheap on a p/e basis as the banks go, citi has a higher exposure than other places looking to the strategy point where people wonder as part of jane fraser's look will she look to sell off exposure to non-core areas is this we will have to see going forward. mexico, big exposure there, asia, a big exposure if there is a slower pickup in growth might it hold them out. >> i know there is a lot of hope on that front. new leader, new strategy she's coming in. she gives a hint of how she is thinking about leadership. it is too early to announce

strategic moves but clearly i think that's part of her job there. >> looking forward to moor of that to come. meantime, with 14 days left in the trading day commercial-free coverage of all the action going into the close. cnbc senior markets commentator, mike santoli, is here to break down these crucial moments of the trading day. and today we've got tower chief investment strategist stephanie link with us, too. good afternoon, stephanie. let's tick kick thing off with the broader market stocks surging, the dow and s&p near record closes, nasdaq up 2.6% tech needs solid by financial services, utilities, consumer staples at the bottom. mike, yields pulled back early, part of the reason for allowing the tech stocks the rise again, then rose, but didn't retail the tech-led rally. >> the longer term matures rose a little bit there is supply out in that area in general i think it is significant we have not made new highs in yields for a few days

therefore it calms down a little bit. stocks regrouped parts of the nasdaq very oversold for a couple days it allowed the market i think to get back into gear a little bit more because the cyclical stuff because the headline tail winds are not giving back very much. we have come a long way in a hurry. this market does not take a long time to bob back up it seems once it gets the sense that things are back in gear. even though we are revisiting new highs in one month's period we have to say okay maybe it has to calm down. >> can always count on you for the precise perspective. steph, where does that leave us on technology versus cyclical if we are seeing a more established yields >> i think you want to own a combination of both. you know i am more leaning on cyclicals because i think the economic growth is going to be better we are seeing it we have been seeing the economic growth, in manufacturing,

consumer, housing. you guys just talked about auto and globally where there is growth i think auto is still a great place to be. but those areas of the economy have been working for a while. now all of a sudden we are seeing tsa checks going up we are seeing reservations at restaurants and lodging go up. we are seeing air travel better. marriott, bob, they are going to build out 60 different hotel chains in china this year alone. they did 39 last year. they are accelerating it this year globally, they see opportunity all of this leads to growth, a little inflation, then eventually higher rates. sure, rates can stay kind of stable for the time being. they roseanne awful lot. i get it especially after the tepper comments, after the ecb comments i think longer term we are headed for higher rates. it points more towards value and cyclical but the secular growth in technology is too compelling the abandon it

i am underweight tech but i like s semi, cyber you are the ask. i like active, they are a parts company but a pure play auto tech company there are lots of places you can be involved this tech but i think you want to lean more on the cyclical side is this boeing is reporting a big deal with southwest airlines phil lebeau with the story. >> at that head lion, which was out yesterday -- by the way, that's widely expected within the airline industry and those who follow boeing. we will talk about that. look at shares of beau, hitting a 5-2-week high. if you want to say, what's the main driver here this optimism that the 737 max -- remember they had cancellations after cancellations, month after month. now this is optimism that well they have turned the corner and they are going to have more orders than cancellations. southwest announced they have begun playing the max again. they have added it back into the schedule starting today. they will increase the flights over the summer. then there is the question of

whether or not there will be an expanded order for the 737 max between southwest and boeing shares of southwest hit a 52-week high a couple of days ago. what you are looking at is a company right now that is the largest carrier of 737 maxes it makes sense if you have a chance the redo your order and get a better deal, this is the time to do it. that's the expectation out there surrounding southwest and boeing. >> phil lebeau thanks for that steph i will come to you on boeing in particular, but airlines more broadly. does it make sense to you -- 52-week high is not saying that much given of course how low we were a year ago. but off the 350 level that it started 2020 at. >> yeah. no i own it i have owned it all through last year i felt the pain. it is nice to see it recover but the stock, to your point, is still down 37% from february of last year. right? so it just got thrown out with the baby with the bath water on

every single headline news not only is southwest a good order, ryan air, and and ask a air. they are definitely building out momentum and they have $25 billion in liquidity. until we see more free cash flow generation -- which is not a 2021 story because all of these planes that they are getting those orders for they are all coming at a huge discount. free cash flow is not going to be great this year but i think people are starting to anticipate 2022 and beyond. good story, better management. and i am sticking with it. definitely a reopening name, at that. let's get a check on the nasdaq as we head into the close. it is up a strong 2.5% of leading the major averages, technology is the best performing sector in the s&p which puts us 5.5% off the record high for the nasdaq specifically we will check in on the chip sector as well. the chinese semiconductor association announcing it is establishing a working group with it is counter-part in the united states. they will discuss issues like

intellectual property, trade policy, encryption and other issues this group has had issues like part shortages, deals, what is it trading off of? is it a pure cyclical play rallying around autos? >> yeah, and also it is rallying because it, the a good pullback in the last several weeks. even now semiconductor index is 15% off its highs. it is both cyclical and it has the long term i think crowding effect all of that was this the stock what is interesting about this news today, now it is a bit of a bipartisan consensusas a way t diversify semii manufacturing here and not be so dependent on found dairies overseas they just really did get way extend asked they are trying the regroup after that into steph, what's your view on the semis? >> i like them a lot and i think just to answer why

they have done well, maybe not recently, is because i think the end markets are attractive 5g, data center, cloud i think you want to pick your spots. i still think the valuations are reasonable they may be a little more crowded these days but they are still not as crowded as faang in my opinion or even software. broadcom, last-minute, nxpi. this act active company i think is interesting with the total addressable market i think there is plenty of places to pick and choose in semiconductors be selective i have been using the weakness to add to those names. a big tobacco company is may going a big bet on cannabis. >> shares of organic gram is up after the maker of camel cigarettes british american tobacco purchased a portion of the company for 173.

it is part of a general push by big tobyio to get out of the traditional cigarette business did into what they call reduced risk products. it is up 6%. canadian operators tillray and hexo up double digits. again, this tri on fire this year. >> frank holland thanks. mike, those names are fire as frank pointed out. what about the traditional tobacco names? >> they are going to be in the bucket of no real secular growth top line challenged forever. but pricing and a similar cash flow story they have been in a decent spt over the very long term. they were hated. they look a lot like energy did a year or ten years ago because people thought they were not investable i don't think the story changed. they worked through against

declining consumption here if staples in general catch a bid those are the types of companies that can push through price increase into there is an esg component here, steph, i get why tobacco companies would want to diversify into cannabis, but why cannabis companies would welcome that investment, i don't know are there investors that cannot buy tobacco companies bus of esg mandates doesn't that push money away in doesn't that risk the pot rally? >> totally, first thing i thought of is esg. i don't have any names in my portfolio that are tobacco but it is not necessarily per esg, it is because i don't find them attract pmi i might have dabbled in and out depending on currency. but i don't know why cannabis companies would welcome it because they have that taint on them

however, they are huge cash flow generators, and that's what the cannabis companies need. i get boatsides but i don't think they are doing the market any favorites. bumble shares also up double digits after beating wall street revenue systems. julia boorstin with the details. >> that's right, sara, bumble shares up 13% after the company's revenue and user growth surpassed expectations. the company also guyed to higher first quarter and full year revenue than wall street anticipated. the ceo told me she expects the video dating trend that started during the pandemic to continue, that bumble's feature are a competitive advantage? we have always been committed to safety and accountability and to protecting the customer and to really focusing on women's needs. and this drives user acquisition, engagement, and then converts to paying clurs

and create this fly wheel of organic virality. >> she also said they are working on international expansion and then eventually on building their friend finding service bumble bff but says that won't generate revenue until 2022. >> mike, you noted this stock was well off the ipo highs going into the report. >> yeah. >> clearly a pleasant surprise, up 12% where does that put it. >> right where the first trait happened on february 11th. it had the good and bad luck of becoming public almost exactly as a lot of the high expensive and story-type tech stocks came to peek. it rallied high. pulled back hard it is mild raising revenue guidance, in this world whereas long as you have a path to network effects and profitability, the market is willing to wait because they seem like they are in a market

that certainly is huge and growing. >> we have got just about two minutes, a little over that, to trade here left, mike. mike what are you seeing in the market internals as we rally to the close. >> relatively broad. that's been the case look at the split on the new york stock exchange in terms of volume, about two to one positive to negative volume. broad sponsorship of this rally today. also year to date, maybe unnoticed the equal weighted s&p 500 has vastly outconfirmed the market cap weighted. if fact earlier today the equal weighted index was up 10% i don't remember the date. slightly below that right now. 10% is pretty good for the average stock or the median stock. people come into ever year saying he is a stock pickers market looks like one right now volatility index, low 20s. seems like the boeing receipt now. there is an argument that not

only have you had the residual hedging, a lot of intraday swings, a lot of chop in the market as we hit all time highs. also when you have an economy set to grow as fast as this one is there is room for things to swing around a lot along the way. maybe the volatility in the economy has something to do with where the vix is. >> thanks mike the dow is more noticeably off its highs of the session up 190 the high was 365 but the nasdaq remains close toy. tech, communication services, the best performing sectors. utilities, consumer staples, financial sectors the three worst performing, only slightly. oil doing well, 2.6% higher, gold and silver fractionally higher the vix as mike said pulling back noticely. 21, 22 the level but not falling below the all-important 20

level. and bitcoin surging by 2.5%, 3%. 57,500 >> as we approach the close. nasdaq 4% of gains for the week and record closes for the s&p and the dow. up .6% for the dow 1% for the s&p a strong session a strong week on our hands so far the dow is up over 3%. >> decent close. that will do it for record highs on the s&p and the dow, a double record welcome back, everyone, to "closing bell. i'm sara eisen here with wilfred frost. and mike santoli, cnbc senior markets commentator. look at how we finished up the day on wall street the dow up 188 points, about half a percent that is enough for a record high its fifth positive session in a row. up for the week about 3.2% the s&p 500 closing up 1%. and that is a new record high. first time we have hit that

since mid february we needed 3934 to get there. just did technology in the lead that explains the nasdaq's 2.5% gain today it has been a strong week for the nasdaq bouncing back as well from last week up 3.7% so far for the week. small caps also joined the party. up 2.4%. for the week, up 6.6%. financials have been a big leader on wall street. today they lag but so far this year they have been up front coming up this hour, former barclays ceo bob diamond the talk about his outlook for the industry. still with us. stephanie link >> and -- joins us. >> first to you mike >> the yield allowed the growth stocks to reassert themselves a little bit you can look at a chart of the nasdaq it has had a nice comeback here

but it still probably hasn't got tony the point where you are persuaded that, et cetera anything more than just a really strong bounce. i think you have to keep that in mind if you are looking at it from the highs to now. it seems as if the i don't have all market is much more in balance. it did reset a little bit over the course of the month with the pullback and shakeout in sentiment in some of the most heated stocks. we faded a little bit in the close. it has been a pattern. it hasn't hurt the overall path of the market but we are essentially back up to the highs of a month ago whether that's the top of a range or a real new breakout we will have to see. >> mark, are you a believer that in the short-term we found our recent short-term bottom particularly with stimulus cash on its way >> i am. i think that's a great springboard for the market we have monetary and fiscal stimulus i have been calling it the great new deal there is that much stimulus, the reopened trade, the vaccine flowing into arms.

we are going to have a supply demand -- there is going to be more supply than demand of vaccine next month i am sure of that. and the market is telling you the new highs can be taken out because that demand and exuberance is about to plow to the market. >> steph, have you taken the broader tech selloff as an opportunity to pick up any of those names? >> it has been more on the semiconductor companies and the semicap equipment companies. the names i mentioned earlier, broadcom and nxpi and amd they are all down 14% i feel like there is better value there, i like their end markets better ski do like the valuations we just talked about how much stimulus and liquidity there is in the system and the vaccines johnson & johnson is on the tape right now saying they are going to produce 3 billion doses in 2022 even more news, even better news we have been getting good news we are absolutely going to reopen it is a matter of time then it is a matter of how much

liquidity gets in. $3 trillion this year of fiscal stimulus alone there is a lot coming. that's why i say better growth, better earnings but a little more inflation i think enjoy the stabilization in rates right now but i think they are headed a lot higher >> mark all things considered as you look at the market today are you more tempted to buy a bank stock or a faang stock >> well, neither i think -- it has been an incredible run of the market we are hitting new highs today amazon is basically flat for six months facebook has been flat for six months that group hasn't really performed. this is the new leadership in the market we have had some of the great growth ipos coming back to earth. i look at snowflake. a year ago that stock was down 50% off its recent highs they were able to find a new market i think that's an incredible company. peloton, down 60% from the

recent highs those kinds of opportunities to buy those kind of growth thames when the market gets dislocated like we saw over the last weeks are things i want to pay attention to because those are generational companies i am convinced look at wicks, creating website for new companies. how much is capital going to create new companies that's the places i am looking to invest in as opposed to the faang companies. >> there is a question of how the market is going to absorb the $2 trillion of stimulus that's coming. so far it has been bullish but there are questions about inflation and at that much cash in the system overheating. and we have been talking about high growth rates and getting vaccinations -- how do you hedge yourself for a risk like inflation? >> at some point it is not going to be good news. we are rooting to get back to some sort of normal. that's what we want to do. then we can sort of worry about

what the implications are. i am worried that it is a lot. in the states, monetary fiscal policy is 55% of u.s. gdp. over seas you have $100 trillion sloshing around in the system. in japan last month their m 2 was 9.6. and china was 10 it was 10% i mean just in the month of february alone so there is still so much pedal to the metal foot on the gas in terms of liquidity at some point it is going to lead yes to better growth, which is what we want but also much more inflation we are already seeing double digit inflation in kmod tooes looking at lumber and crude and steel and aluminum, irp and ore. let's watch unit labor costs i zero right now as we get more people into work that number will start to creep up, too. that's when you start to worry. it has been one year since the pandemic was declared. it has been a wild year for the market bob possible has a look at some of the biggest winners and losers over the last 12 months,

bob? wilf, it was -- who declared it a pandemic 12 months ago, march 11th i want to show you how the market changed since then with the understanding the market didn't bottom until two weeks later on march 23rd. let's use march 11 to march 11 since then the s&p 500 is up 43%. you can see big winners elsewhere. the really big winner was the russel 2000 because it dramatically underperformed everything including the s&p and nasdaq 100 for a decade. once the cyclicals came in with the reopening story that's what really moved to the upside transports, another cyclical group also did really well as far as the s&p 500 winners year every year, obviously tesla is there but tesla moves in a world entirely of its own. independent of that it was largely the reopening cyclical names that moved the most. freeport mcma ran. marathon oil oil stocks moving up dramatic.

united rentals was up over 200%. cyclical names really are the big outperformers. as far as the laggards go, utility stocks utility like instruments. con edison down 8% at&t, utility like in one way, down 14. and a lot the reits like elkt residential and boston property down many of the consumers families, coca-cola, campbell's soup really hadn't done much. i want to show you the s&p 500 while w.h.o. declared it a pandemic march 11th we didn't bottom until march 23rd. we closed at 2741 march 1th a year, on march 23rd, 500 points lower than we were on march 11th so the data will look very different. we need to go forward about two weeks and need to revisit this the numbers will look very, very different. i think the thing that's important here will stanley cup final sara is rear probably

entering the best rolling 1 month period for the s&p 500 in decades, maybe each in history because you are going to see eye popping comparisons much different than what i just showed you two weeks from now. we just need to wait the see where the s&p settles out two weeks from now. >> it has been a different shape of speed and recovery. check out shares of novavax, speaking of recovery, coming out with news on its trials confirming high levels of efficacy against the original and variant covid-19 strains in the uk and south african trials. to give you a taste of the numbers, phase three data san jose 96.4% accuracy against mild moderate and severe disease. they showed 100% protection against severe disease in both trials including hospitalizations and deaths. it is the kind of news we want the see one year later

it is considered the fourth vaccine candidate out of a u.s. company behind the three that have already been approved by the fda for emergency use. we talked with the novavax ceo a few weeks ago. and he was saying it is a second quarter story in terms of trying to get approval. detailed information looks to be effective. the stock taking off already had a monster run. >> look to be very positive on that data. the two remaining questions as the stock moves is do the foreign trials lead to fda approval in secondly, are we in a position for 2021 -- there is also a glut of supply as relates to countries like the uk and the u.s. clearly demand around the world as we have been discussing as well in terms the share price jump and where you are going to extract your higher price. >> the more and merrier.

we will need it for younger people as the rollout continues. covax and other vaccines are rolling out around the world we are starting to help out the world. posh mark fbs are just out courtney reagan has the numbers. >> this is the first quarter for posh mark reporting as a public company. of course a recent ipo they are putting out an adjusted profit of five cents it is not comparable to analyst estimates. the revenues look like a small beat at $69.3 million compared to estimates of analysts of $68 million. it represents growth of 27% year overier. the growth's merchandise valuable up 28% year over year to $387 million. the first quarter wretch guidance, though, does look a bit light, the range that they are giving, compared to what the analysts had been expecting. the company also noting that the trailing 12-month active buyers

reached 6.5 million in the fourth quarter of 2020, which mark as 20% year over year increase from $5.4 in the fourth quarter of 2019. shares are down 5% here again reacting to posh mark's first earnings report as a publicly traded company back over to you. >> courtney thank you for that posh mark down 5%. mike to round out the "market zone." broader markets we haven't touched on is a softer dollar. is that playing into things? >> i wouldn't say a huge factor but it sort of fits in with the general flow of easing financial conditions and things looking like they were relaxing a little bit. and a lot of folks looking at the u.s. dollar index chart and saying we have hit the extent of the bounce weed back to multimonth highs >> steph and mark thank you for joining us >> thanks, guys. >> roblox shares continue to

rally after wednesday's ipo. venture capitalist bradley tusk will join us to discuss roblox's metaverse and those who could cash in on it. nuy.ocugen is up 50% since jaar how much is riding on the vaccine rights it has to distribute in the u.s. we are back in 90 seconds. we see engineers simulating the future to improve today. at emerson, our digital twin software

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it's game on for roblox investors. shares continuing to rise in their second day o bradley. thank you for joining us too long an intro, i can't respond to your hello there quick enough >> tell them to write it shorter next time. >> let's talk about roblox my intro question on this is of course we know you are an absolute expert in all things tech but how on top of roblox as a company and everything it does were you in the months leading up to this ipo >> not that much, and then i asked my son this morning who is 12 i knew i was come on today i said, what do you think of roblox is this he said that's for third graders. neither as a parent nor as an investor has it hit me where i

am what is being and refusal to the work that i do is when you look at the intersection of technology anding arelation you have this company that has built something i think is extraordinary. and you can see why investors are really excited about it. however, the one red flag to raise here is if you look at the regulations coming down the pike, whether it is the potential revalue of section 230 of the communication decency act, some time of enaction of national privacy legislation, other states adopting their other versions of privacy legislation, anything that deals with kids is going to be impact asked touches in some way. so the current business model that roblox relies on, everything but the in-app purchases theoretically could be changed by regulation. so as people are deciding whether or not to buy or sell the stock they should keep that in mind. >> we talked this week with various people about the attractions of it and the level of engagement it gets as one

standout item. does that regulation aside suggest there are many mormon advertisation levers that might be pulled going forward. >> yeah, poe leengs. look clearly for the creator it is a tremendous boone. it is nice to see a way for talented part is people to be able to make money using their talent that's great anyone who could think of other ways to integrate ito rtunity t. also, look, roblox has done really well with kids. but it is not exclusively the only platform. other platforms could come along and use a similar model and also do well. you only get into trouble when you rely on research from third parties aimed at kids into there is this idea the metaverse and what it could mean for big brands something that was mentioned on ipo day. nike is a example. they did nike max air activation

day. you could think of other designers doing design your own wardrobes in this world. what should brands be thinking about? >> kshty is a big one. if you had nike bucks or tesla bucks or whatever and there was some slight economic incentive to be able to use those then you might be able to get people the trade real money for your kind of skin like money from there, they are pretty much limited to buying just your product. if you create these virtual worlds and really penetrate them well you not only can reach a lot of people. you can probably sell a lot of product within those worlds itself and i think that could apply to almost any consumer brand or good it is a question of how creative you are. >> brad, do you think these types of things justify the levels we have seen in the nasdaq and other tech stocks because it again highlights all the new avenues that we haven't

potentially touched on yet. >> $40 billion is a very my valuation for any company. is it really a $40 billion company? i don't know but is it a company at least that is doing something different and new that has potential revenue streams that can be significant and interesting? absolutely it makes more sense than what we saw with gamestop or whatever else at the same time is it going to stay at $40 billion? i would be surprised >> bradley tusk, thank you for joining us >> thanks for having me. we have got earnings crossing you will at that numbers are out. the stock sliding. rahel solomon has the numbers. >> the stock is under pressure despite strong earnings and revenues we will get to the details in just a moment. likely down because of a ceo transition kimball will succeed billon as chief executive other. dillon had been ceo for eight years. more on that in just a moment.

3.41 adjusted versus the expectations of 2.35 revenues also a beat there, that came in at $2.20 billion versus $2.08 billion, which was the keptation. stock by the way also having a really good year so far, up about 20%. under pressure right now perhaps on the news of the ceo transition the press release mentioning a little bit about the transition saying that under dillon's leadership the company has more than tripled its market capitalization to more than $18 billion today. it has also more than doubled the retailers fleet of stores. stock down 10an 5% right now conference call begins at 5:30 p.m. more details coming then dillon now transitioning to a new role after being ceo eight years. >> the stock had done so well under her tenure comes as a bit of a surprise

up next, mike santoli looking at this i don't remember's rapid rise in interest rates and whether inflation is now priced into the market. plus bank stocks have been booming this year. coming up former barkcally ceo bob diamond on how fintech companies will impact the industry we'll be right back.

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stocks closed at record highs, both the s&p and the dow. nasdaq also had a very strong day. we will go facebook mike santoli now for a look at inflation and just what's being priced in. >> all markets are in the reflation mode pricing in inflation for years to come. this is the ten-year break even rate of inflation. essentially above this rate, investors in treasury inflation protected securities would make money. below this rate they would not so this is essentially the market's best guess on forward inflation. very importantly,it is not som kinds of perfectcally accurate wisdom of crowds estimates of what inflation is going to be. a seven year high in february of 2014 higher -- obviously the market wasn't right there and overplayed your inpolice

station head it's bit of insurance. you overplay the insurance policies look at google search news measures of the word inflation 2017 you had a spike trade war type stuff maybe everyone sees this has a potential risk to come we are already consumed with an uptick in inflation. i would just sometimes it is not what you see coming that really is what you should be worrying about. maybe markets are getting slowly priced for this possibility. >> what is the y axis there? 100% every search is inflation? >> there have been more mentions -- basically the maximum frequency of mentions over this period that we have opened. >> rizzen sharply is the key point. i was wondering exactly how much. up next, atlas merchant capital ceo bob diamond on his outlook for inflation and how that will impact your investments.

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bark close ceo thank you for joining us. >> nice to be here. >> whether it is because of this latest extra wave of stimulus or other factors, do you think that global gdp will surprise to the upside in the second half of this year? >> yeah, we are pretty positive. i think -- i think, you know, assuming that the smooth transition that's happening in the white house continues, which we would expect, and assuming that we get a continued positive rollout of vaccines, as we would expect, then, you know, this stimulus is going to have a pretty positive impact and the reopening of the economy, you know, it looks -- it looks like a strong, strong growth in the second quarter and third quarter new york question about night what about inflation? i mean particularly as we think about the yield curve and banks. you have go of the the european central bank saying they are going to try to stop in and top yields rising? do you think the same thing will happen here. >> i think the rising yield curve is actually quite

constructive wilfred let's put it in context? over the last ten years, the u.s. ten-year treasury has been kind of between 1.5% and 3% it has been in that range it dipped to 50 basis points during the pandemic for reasons that were about the economy slowing down and all the thing that we know and the monetary policy, et cetera. it began rising in august when chairman powell at jackson hole calked about changing the inflation target from 2% to an average. we recall that and that 50 basis point ten-year treasury over a course of a number of months into february of this year became 1.0 or 1.10, somewhere in that area. but the jump from 1.1 to 1.5 more recently, i don't think that's about inflation i think that's about growth. i think that's about thrzing the im -- understanding the impact of the stimulus and getting people

back the work. the combination of the vaccine and $5 trillion in fiscal stimulus since the pandemic. $4 trillion increase in the fed balance sheet, the vaccines beginning to roll out -- i guess i would ask the question would you rather have 1.5 treasury rates here in the u.s. or like like germany, which is negative 3.5 test rerates which is a statement about their growth versus our growth here in the states i am relaxed and sane begin about that 175treasury i would say that's the low end of the range we are going to see going forward of 175 to 3%. >> what's going to happen when the stimulus fades everyone is positive in the near term you just laid out the trillions of dollars in fiscal and monetary stimulus. it can't last fefr if the federal resever starts to pull the punch bowl, raises interest rates, if the fiscal stimulus starts to fade away

then what? what are we in for >> sara you are a kill joy we are just talking about the stimulus, it was just signed today. >> just thinking about long term out. >> no it is a good question. you are correct as to what happens done the road. i think as we look out at the second and third quarter it looks extremely good again, as we said, the rollout of the vaccine, people want og get back out i am going to the celtics game at barclays center tonight i haven't been to a sports event since last february. there is a pent up demand. i think it is pretty positive. i think over time we are going to have to answer just the question that you asked. >> you were responsible for the naming of that center, no less, am i right >> you are right. >> under your tenure i thought so switching focus -- >> good thing they still let you in.

>> so they should? i want you 20 know i am still rooting for the celtics. >> i hope you get at least one free beer. you deserve it i wanted to ask about valuations overall, bob with atlas or more broadly when you look at where they are, particular chi in the financial sector, are there good deals to be done or have we seen an extraordinary run-up where it is now a case of sitting on the sidelines to make sure valuations don't pull back all of a sudden in a year's time no, we are seeing -- i think people have to get away the looking just at the conventional banks. and i do think, you know, last year the larger conventional banks were down in the equity markets. i think they are back about flat since the beginning of the pandemic when you look at the share of banking and payments that the conventional banks hold, ten years ago it was 96% of payments and banking were held by the conventional banks today it is 70, 7 1rk 72%. it is fintech.

it's platforms like market access and trumid. it is brocker dealers, non-bank broker dealers and particularly in spaces like payments it is fintech that's really finding this as an opportunity to build very creative, very innovative client-centric business models that are not your traditional soc so when we look outside the conventional banking area i think this is the most excited we have ever been about investing in financial services. >> bob diamond, thank you very much, end it with an optimistic note shy still ahead we will hear from dr. fauci and take you inside the labs of moderna to learn how the government and drug companies are trying to stay ahead of the coronavirus mutations. plus, ocugen has been a huge winner this year, up over 500% since the beginning of february. coming up the ocugen ceo

we'll be right back.

>> time for a cnbc news update with rahel solomon.

hi, rahel. >> hello good to see you. nearly two out of every three seniors have gotten at least one shot of the coronavirus vaccine a. new study finds nearly four in ten americans are using someone else's streaming account. lending tree polled more than 1500 people and found that netflix is the service whose pass words are shared the most which may explain why net felix is testing a crackdown on account sharing. a netflix spokesman says it may not lead to a crackdown on pad worst sharing and just asks whether those using the passwords are allowed to. a group of luche little bit ray wrestlers are part of a broader campaign to get mexicans

to mask up and use anti-bacteria gel. those who refused were apparently sprayed with disinfectant. >> they were spraying the folks wearing a mask as well. >> everybody was sprayed. up next, the ceo of drug maker ocugen on making the switch from blindness treatments to coronavirus vaccines and whether winning erncus thization for the vaccine it has the rights to distribute in the u.s. will be a make or break moment for the company ♪ ♪ ♪ ♪

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welcome back it has been one year sin the coronavirus outbreak bam a pandemic meg tirrell has a look now at how the government and drug make remembers trying to keep pace with the new variants of the virus. hey, meg. >> there are few variants of concern that public health experts are following closely. of those, one known as b-1.351 poses the most dangerous we spoke with andrea carvy head of infectious disease research there who told us each time a new variant is reported their scientists calculate the risks

it can pose. dr. fauci told us if updated vaccines are med they could be cleared for market with smaller studies. >> a bridging study where they can say a, it's safe, b, it induces an immune response that's correlated with protection, so you don't need a 30,000 person trial to show efficacy you could declare efficacy on the base i have a compare to have correlative immunity. >> reporter: it is not a given that we will need updated vaccines or boosters a vaccine scientist told us today he believes the vaccine's protection will last two to three years. but science and industry are making sure they are ready if we do >> i guess we will learn in real time meg, thank you meg tirrell. meantime, novavax shares popping after announcing its covid-19 candidate showed 90% he

have's in its phase three trial and 100% protection against severe disease including all hospitalizations and deaths. also on the vaccine front shares of ocugen have been surging more than 400%. the i health company is worked with an indian company the deal with barra gives them the right to distribute and deal the indian vaccine in the u.s. market how did you go from eye disease to covid-19 vaccine? >> great question. this is a pandemic it has taken a lot of lives. we have significant expertise including myself -- i came from large pharma, managed a global operations team for a huge vaccine product which is distributed globally over 100 countries. we have an incredible team that are coming from pfizer and merck. we looked at the u.s. market

the vaccines here, three of them being u.s. distribute ready all based on spike protein we looked into that and said we had a good relationship with this company in the past we did a project when i was with large pharma a good company. they really did a tremendous job almost like producing more than 16 vaccines. and a billion of those distributed globally this is a great company. we said you are working on a vaccine beyond spike protein which could be need asked is necessary in our arsenal in the u.s. in a war, you can't sit on the sidelines. you have to jump in. here, thanks to all the biofarm suit is companies are contributing to the covid-19 fight. we have experience, we have a network. we thought we can bring this to

the u.s. to save lives that's the reason we jumped in. >> i know you are focus on the u.s. and getting distribution here i am wondering why the u.s. government would purchase your vaccine when it's already doing so from pfizer, moderna, johnson & johnson, and maybe soon from novavax. >> could you repeat. >> just wondering about the market, why you are focused on the u.s., and what kind of customer you think you are going to get had the u.s. when we already have been buying three vaccines, johnson & johnson, moderna, and pfizer and maybe novavax soon >> a reasonable question it is a differentiated vaccine this is based on the whole -- it has got beyond spike, there are other apps in there, nuclear based vaccine. when you get vaccinated with

this you get antibody responses to multiple antigens that's really important. you talked about variants, the south korea can variety yant, uk variant and the virus keeps escaping we are going to see the variants our partners generated significant data showing this is very effective against variants. there is no normalizing of the antibodies based on the study taken from patients who are infected and doing the tests on that, not lab engineered virus once again we believe it has potential to be very effective against south african and brazil variants because it gives a very strong -- response and -- response, which is very important for long term durable. again, the publication just came out this weekend, lancet i encourage everybody to take a look at it

and think of the broad spectrum perfection taking this vaccine it may prevent taking boosters and other vaccines in the future how many boosters are you going to develop we need to step back and see how do we minimize variants? technologies like this is safe it works for polio therefore it can be given to children we have to do more study but they have already done work which is published currently, the u.s. don't go below 16 that's a big plus. so the broad protection, and giving to children also it is degree of storage >> how much are you going to sell the vaccine for how does that work with barra? what percentage do you take versus what they take?

>> again, how much we sell again we are trying to work with the government to secure that contract with barra, i think our agreement is public. it's -- again, we get 45% of the profits and they get 55% and -- the expenses that's a great deal for us. >> the stock is up 450% in three months. still ahead, the future of citi group the new ceo shares her gold for the banking join as she just took over as ceo

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i need indeed. indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from our resume database. claim your $75 credit when you post your first job at indeed.com/bike. earlier today i hosted a panel for the economic club of new york with james frazier and mary barra in honor of international women's day. i asked frazier about her review of the company she says everything is on the table. here's how she characterized it. >> it's a company that one needs to be standing for we've boiled it down to morals

one is excellence. i think in this world the more of the winner take all dynamic, the scale, the speed, the volumes you need operate with require excellence in what you do so that attribute's important, empathy as we've talked about is also critical. it drives understanding with our clients need, what they're going through, and i do find, as mary said more diverse perspectives usually end up in better decision making. it makes for better client service and better talent development. another one simpler, make our banks as we look at it and the final piece is digital first. we're starting to think more in terms of order attributes and the other elements we want to make sure the bank has -- that we're really outstanding in and those would be the four that we're focused on at the moment but too early to tell on the

strategics moves we've got to do the work first. >> had to ask just a few days into the job as you have been reporting, questions about whatcity group is going to look like. i asked about square and paypal and what she took away from that and she said you need to be seen as a digital attacker, and that is how she characterized that one and not tied to an old mind set, she says, and an old way of doing business >> they have a partnership with google opposed to developing their own technology as well as with developing their own technology there was a bit of clue there. i wonder if people passed through that in terms of too early to talk about strategic initiatives. that beings said, the third point she made will be something some analysts will be focused on some would like to perhaps reduce the footprint, i guess simpler means. >> she said we should start

thinking differently about scale. that was another one >> we await her own review once she's had more than ten days in the job. >> simple indication and digital probably all go together easy to forget city still remains in a lot of ways an agglomeration. it came through with that embarrassing mistaken payment to revlon it's the systems that weren't you have to snuff. it's probably planning to do that >> one of the things i was going to say on that front is maept to do, but also quite an opportunity for james frazier to come in, the book multiple, 0.5 times. relative to rivals i guess that's where you want to start with the share price, clearly, a great run probably room to play catchup. >> yeah. certainly that set up plus the fact that the macro picture looks like it will be favorable

for a little while >> what are you watching in tomorrow after a strong session on wall street that ended in record highs for the dow and s&p and more than a 2% gain for the nasdaq, looking at almost 4% for the week. >> obviously it's easy to say. you're looking the for follow-through we came to a halt right where the highs were from a month ago. seems like we're trading very tactically but also with the extra retail energy, if the market's operating in a little more of a springy way this week as stocks stabilize. so all those things fill her through wechl haven't had much in the way of the nascar to come back it looks like a bounce and we'll have to watch that >> kind of stark when you say this while we're up, what, 4%. >> the pullback happens quickly, too. >> yeah. i was going to say -- and i guess all eyes now on great breadth today and the brits

pulling back as well >> it seems like market on better footing seasonally. markets start to imprugh in the second hatch of march. everything looks like there's a pretty decent shakeup. >> unless rates start to paul. >> that could be one of the breaks on this. >> tickup on 154 we're out of time on "closing bell." "fast money" starts now. >> i'm mel melissa lee tonight on "fast," the ugly ducklings in today's record rally. the three dharts didn't look too pretty plus speak of ugly, check out you will that beauty the stock is plunging as the co-announces she's stepping down plus big money details when we start off with what could be the best of times for the market stocks hitting record hierksz im