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happy thursday welcome to "squawk alley." i'm jon fortt. ahead this hour, pagepagerduty shares crushed despite a beat on earnings the ceo joins us this hour to explain. later bitcoin billion their and actor brock pierce joins us to weigh in on nfts and public siding with, at least so far julia? >> well, jon, start with tech stocks and the sell-off we're seeing in the sector as rates continue to rise our next guest is an expert on both sides of the divergence founder and former ceo of zillow and palantir board member spencer joining us now so good to see you this morning. the were e is, with all this

talk about rates, what's your outlook for the tech sector? >> thanks for having me, julia look, investors are getting more selective. we see this, of course, rates tick up. a risk off trade investors tend to cycle out of high growth, high-priced assets into slower growth companies that are a little safer, and we're starting to see that happen seen it over the last couple of weeks. for me, i'm a long-term investor and try not to get caught up in short-term fluctuations. we're at the beginning of digital transformation in huge versicles in our economy investing heavily in vertical companies like amazon, also vilma, state's title and others we're talk about anything to press a button on your smartphone and have magic happen are long-term winners and will make it through the choppy period we're seeing.

a little out of growth. >> we will talk more about that spac deal made in a little bit tell us first your perspective what's going to happen in terms of the real estate market? you're exposed to real estate through so many things you're doing. how do you see this impacting consumer behavior when it comes to moving and buying new houses? >> mortgage rates so low for so long and that has definitely buoyed the reality estate market the research done shows as mortgage rates tick up doesn't crush the housing market but causes people to trade down to a slightly lower price point housing market on stable footage with extremely low levels of inventory. a couple weeks of inventory and in a normal market you'd expect a couple months of inventory even as mortgage rates tick up, at historic lows the real estate market will do fine. yew seeing quite a bit of people re-assessing where they choose

to live. companying shifting to a more permanent hybrid work environment. not tethered to the office anymore. not going to an actual physical studio anymore it's changing where people want to live, how they interact with their home and that will have permanent implications in the real estate market and i'm very excited about it, a good segue maybe to talk about offer pad and what you're doing. the way i understand the model and correct me where i'm wrong here you're offering cash for homes in offer pad and then expecting to resell. seems that as interest rates rise, if more homes come on to the market, the end consumer, the home seller, is going to be more likely to want 0 to use a service like that, but then there's more risk on that model and data has to be good which homes you buy and how long you expect to hang on to them before

you turn them over >> offer pad is part of a digital revolution seen throughout the whole economy g grubhub, uber, all the services press a button and stress is elavalleealleviated in your lif. 99% sell their home the old way. real estate agent walks around your house points to things you to fix about your house to sell it. things you didn't care enough to fix when you own the home and now told to fix it for the next owner. list your home and no idea how long it will take to sell. an expressive way to sell and how 99.5% do offer pad provides certainty sell your home directly to them or list with them and if in 60 days you don't get the price you want, a backup offer from offer pad they pay for your home and ready your home for selling. just like a used car dealer

prepares a car to resell a much better way to sell your home the pricepoints, $700,000 price point many will shift from selling their home the old way to el issselling their home thi way. >> fascinating spencer, talk more who it will truly displace curious, i don't want to get too far into real estate, but building costs we had data this week said lumber is adding $25,000 to the cost of a new home do you see that getting out of hand >> well, this, gets exactly to the core value proposition of a company like offer pad renovations a the scale. 15,000 across 30,000 transactions for $7 billion of photo real estate value in five years since its founding you as a consumer should repaint your house before you list it is crazy. instead, institutional buyer

painting dozens should refurrish these homes at scale and a benefit selling your home to one of these type companies. >> why is offer pad doing this via spac rather than going public via traditional ipo and what your outlook is on the stock landscape as it gets even more crowded seems every day as more and more spacs are launched >> there are a lot of spacs. frankly, too many. but not too many good spacs. today's announcement is a good example of this. a good spac, like mine, super nova can provide a sponsored path to the market offer pad shows this because we can help onboard them in this transition from private to public we've spent the last couple of weeks educating investors about the company onboarding a couple hundred million dollars of investment from the capital markets into it. the company will have $650 million cash other side of this ipo and we can help communicate,

or articulate to investors and media and hthem transition. a warmer welcome to public markets than going public traditionally through an ipo and faster a process that takes a couple months not over a year as the traditional ipo path. >> certainly a lot faster. a question about how this fits into your broader approach to the real estate market right now. sort of real estate, tech market also you have a company called picasso you talked about before on this show what's your overall thesis between this and picasso >> picasso has similarities to offer in the pad it's ib innovating on the real estate transaction. overjot thesis, everything will change a huge category. $1.6 trillion spent, $80 billion in commissions, $20 billion advertising and just barely

beginning the transition from analog to digital. so it's further innovation on the real estate transaction with an eye towards satisfying some consumer need. consumer need, people want to own second homes but doesn't make sense offer pad consumer need, sell your home and upward path provide as solution and other investments in other parts of the prop tech industry selling other consumer needs helping digitally created transaction or apartment managers communicate with tenants. so much innovation happening in contact. a really exciting time >> yes certainly a lot of change in that space let's shift gears and turn to facebook versus apple. we are awaiting the latter's operating system change expected to come in the next few weeks and that new operating system prompting users to choose

whether they want activity on phone tracked or opt out opting out facebook says will hurt its ability to target ads, which they say in turn will hurt small businesses a new survey out finds 73% of respondents say they're unlikely or some unlikely to opt in to being tracked. spencer what do you think about this do you think consumers will opt out? you have a good sense of consumer behavior. how meaningful could damage be for facebook and other businesses >> i think this is very smart of apple. we've received handset parity now. every smartphone, apple, samsung, google, abuber apple decided the next vector of their competitive participation is going to be around privapriv. done research and i believe, probably right, consumers think they care. generally speaking, consumers

say they care a lot about privacy, but generally speaking they don't really act like it. we've seen this over the last five years been on the show many times, basically defending facebook saying that this is a company that is practically impenetrable and every time consumers say officer advertisers say they'll boycott it or somehow care about russia hacking facebook and critical misinformation et cetera, the data doesn't support it say think care and don't actually vote that way ip applaud apple for taking this approach we'll see. it's a really smart strategy and probably one i would do also if i were them. >> spencer what do you think of facebook's argument here that apple is preferencing itself and its platforms, because apple's apps kind of live on the phone and will have certain information about the end consume jer i'll tell you off the bat that argument doesn't work so well for me.

i mean, i bought the phone you know, i kind of accept apple's approach to differential privacy. i like having more choice over who out there gets my data and i appreciate that apple's business model is not based on data to the same degree, but what do you think of that argument still out there? >> you played a hand your dealt. in facebook's case, the argument made i don't think it will resonate to consumers and personally i don't think most consumer's differentiate between that stock is an apple app and this messenger app is from some other company. i don't think they understand which apps are apple and which aren't coming from applethat differential is antitrust argument to make i think facebook's best argument is that this is -- allowing to us have this type information improves quality of the service. this is a service you get for free you're welcome it's incredibly valuable, unless

you communicate with billions of people around the world, as the service improves if you let us have access to information we're better able to build new products for you, better able to give you ads you'll find interesting and relevant it's better if we have access to this information >> spencer, we had a chyron up on the screen a moment ago, facebook versus apple, but struck me we could have put up facebook versus the ftc, facebook versus the states facebook versus newscorp how many fronts do you think they can fight in this war >> a busy time for facebook for sure yeah i mean, the -- the antitrust arguments in all of tech are super interesting to me. i think the one that is perhaps the strongest argument is the, those that are pointing out that google preferences, their off with own services, travel and other categories that's one that google is

rightry in hot water in, and wrists slapped in europe many times and coming home to roost in the u.s. as well. facebook and whatsapp and instagram connected is a losing argument for the government and i've tweeted a lot about this. trying to break up those acquisitions doesn't make sense and won't happen and a terrible precedent to revisit acquisitions approved by the government several years ago i don't think that's going to happen likely. >> well, it will be interesting to see as the regulatory battles continue also this operating system is rolled out and we see what it's looks like spencer rascoff, a pleasure to have you join us. >> thank you. under pressure down more eang 8%. brki this down with the ceo next stay with us.

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and with fast, nationwide 5g included - at no extra cost? we've got you covered. so join the carrier rated #1 in customer satisfaction... ...and learn how much you can save at xfinitymobile.com/mysavings. shares down this morning in pagerduty. with us on the quarter, page per duty ceo jennifer tejada jen good to have you you know, a lot going on in the markets right now. yields being a part of it. i know you want to talk about what was good in this quarter, because there was a lot of up side also touch on the margin guidance, if you will, which did raise some eyebrows. >> hey, jon. great to see you and thanks for having me again. you're right our business accelerated across almost every metric. a fantastic quarter. we crossed over the 200 million

revenue marker, so growth reaccelerate to 29% in the quarter, and we saw our dollar base net retention, a great sign of expansion, improve to 121% in q4 and overall 125% in enterprise which has been a real strength in terms of segments for us over the course of the last year as large customers shifted from responding to the pandemic to realizing they needed a realtime digital operations management platform to manage their now almost entirely digital business. it was a terrific quarter. we're really proud of what our team delivered execution improved, and excited about the fact that the long-term tailwinds for pagerduty, digital acceleration, cloud and dev ops aren't going away anytime soon. our guidance reflects some of the volatility we've seen in the market some of the uncenter going forward, you're aware.

some business with a small business community taking a longer period of time to recover, but as covid impacted markets like travel, hospitality, entertainment and even transportation coming back online, we see that as a positive, and helpful to our outlook. net-net, we're bullish about the future. >> give more color, if you will, on the degree to which a return to normal actually pressures your margins, though i think that's what your ceo was saying you got savings related to covid. you're going to invest coming out of this period, and that's going to be a bit of a hit to fiscal '22 margins >> yeah. actually, i don't think we're returning, quote/unquote, to normal i think the new normal will include the complexity of hybrid work our employees and most in the tech industry have appreciated the flexibility that they've gained in the last year, just like consumers appreciate the convenience they get from all of the digital services that have been created so i think one of the things

we're going to see happen going forward as everybody moves to more of a hybrid working environment, some people at home, some people in the office is that's going to create complexity where a platform built for a digital distributed workers will be super helpful i actually think, again, that's a tailwind for pagerduty we're guiding around things analysts didn't have in models like costs associated with our convertible debt raise and traditional runback and we say see travel expenses return all in all again a very strong business outlook and outcome very strong best in las margins at 86% delivered positivity in the last quarter. generally speaking i feel the business is in a great position, and given the solid performance on all of our unit economics we feel really good about continuing to invest in go to market and invest in product

innovation which is really helping distance our lead from competition. jennifer, i want te about the new hybrid different companies are embracing as there is no new normal or they define what the new normal is how do cybersecurity threats play into this and how you are addressing fears of cybersecurity issues in light of what's gone on with microsoft as well as solarwinds. >> a great question. kcyber is a great example how rapid detection and response to any unprediedict that can be, yu don't know who's in the office on wednesdays, who's as home we use software to automatically detect events, whether security events or technology events and orchestrate them across the key owners and subject matter

expertise, experts, that are needed to resolve those issues very quickly learn from them and prevent them from happening again so so much of what we do is about prevention and to your point. we see a lot of our customers investing heavily to put themselves in a better position. whether moving towards a zero trust stance, from a security perspective, or just trying to put their operations and developer teams in a better position to be prevent small events from becoming business or customer impacting issues. >> interesting you mentioned momentum with large customers. obviously, this issue of cybersecurity would be top of mind for companies in many sizes. how do you see your momentum with those large customers continuing and whether or not you'll really focus on the large companies or trying to build out with the medium and small-sized businesses as well >> because of ow ecommerce acquisition model we have

ability to band across every segment. the most innovative turk start-ups to more than 60 of the fortune 100. that's a strength of our business diversity of our customer base, yet we've really demonstrated leadership in more traditional sectors like financial services, we talked about two fortune 100 banks that built more strategic relationships with us this year includinging morgan stanley deploys thousands of users to solve challenges just like the one you have underare scored which is, the persistence of new types of events and complexities coming at workers that can put businesses at risk we see that again as long-term opportunity that's not going to change you know, the hackers and the bad people out there are getting smarter and smarter, which means that companies have to expect that they will be hacked, but be ready for it and able to respond in a way that protects their brand. protects their data and protecting theirs customers. that's something that pagerduty is invested in.

>> stay on that large customer trend. talking to snowflake and now to you. parts of that business, are there more channeling relationships you need to continue to scale? part of what, perhaps, some of your people might be getting on flights in the next year building out strategically how do you continue that momentum? >> i definitely think partner ecosystems will be really important to us and we had bonita stewart join our board this quarter as a new director she's fantastic. the vpo partnerships at google and bring a great amount of experience to help us build out our partner ecosystem and expand our channels to market, really building on our strong technology partner ecosystem over 530 intintegrations large companies need strategic partners, platforms to support them in their journey to improving their operational

maturity that's what we've soon also seen a shift in leadership. profile of leadership. some of these large, more traditional organizations where they are hiring leaders out of the public cloud providers, who have developer backgrounds really technical, because they've realized their brand experience, their revenue is transacting in a digital environment and need somebody who really understands this and also someone who can help them manage the complexity associated with managing homegrown legacy architecture as well as distributed computing and distributed architectures that come with that. >> that look under the hood as how you plan for growth so important. jennifer tejada, thank you ceo of page per duty. >> great to see you. keep an eye on intel city opens saying delsinger taking away the "doomsday scenario." that analyst joins us tomorrow

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♪ welcome back to "squawk alley. i'm seema mody your kupdate at this hour. a drone reported a tornado touching down in alabama a trail of damage left across the deep south predictions for monster tornadoes have not come to pass. the storm now threatening the southeast with heavy rain and more potential tornadoes the first large-scale study of coronavirus reinfection citing getting covid-19 more than one time is rare. the study found seniors have ay whoer risk of reinfection.

russian president vladimir putin says u.s. president joe biden calling him a killer is a reflection of america's current and past problems. a kem lynn spokesman called biden's comment unprecedented and shows the u.s. has no interest in improving relations with russia. this as we watch the u.s. china talks to take place. clearly another country we need to keep an eye on with russia. >> absolutely. thanks for bringing us that. as part of women's month, katherine power founded and runs four companies ceo of click brands, parent company and a content site produces and designs clothing for target also does skin care and launched wine and a cosmetic line and a spac launched in january. >> i think most people would

tell you i was a hustler as a child. i was always looking for a way to make a dollar growing up i was a professional dancer it's highly competitive and though some people have a natural ability, what i learned was that you work hard enough and put in the time, you will get better get a lot of rejections but ultimately that builds resilience and it's what got me to the place of becoming an entrepreneur i always say a great business starts way personal need mine no exception. developed into an idea something i wasn't getting in the market my companies share common values and themes such as clean ingredients, sustainability. accessibility and inclusivity. really, my mission as an entrepreneur is to democratize these popular categories so i like to take the aspirational and make it more attainable to as many people as possible.

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coming up next, lyft riding into a postrecovery stock up gre than 2.5% weet you the details right after this break stay with us.

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lyft out with news and upbeat outlook earlier pitt this morning. deidre bossa joins us with more. >> more conviction from lyft on the ride-share recovery saying this morning it's here and only going to get better. in a blog post titled what a difference a year makes, lyft says that yesterday for the first time in a year it saw positive year over year growth in daily ride share volume keep in mind, guys, this time last year the country was going into lockdown. this is coming off a very low base but the point here is that the company expects momentum to continue as vaccines roll out and state restrictions are lifted similar to the rebound we have been seeing in air travel. lyft now sees positive weekly

ride share growth on an annual basis for the rest of 2021 now, a few weeks ago lyft improved its q1 loss outlook based on that recovery uber followed suit shortly after citing those improved mobility trends lyft outperforming uber by a wide margin this year. uber, of course, pivoted amid the pandemic and late last year food delivery, look at this chart, actually became a bigger business than ride sharing so this year with ride sharing expected to rebound and delivery expected to soften, it raises the question which company has more potential upside? in a note this morning, wedbush called lyft the poster child for the reopening trade and a "pure play bounceback demand story." finally, guys, we're seeing encouraging numbers on the recovery, but just yesterday talking about uber's new labor concession, a reminder there's still regulatory battles that

remain and food drivery, could just be getting started. >> a question, deidre, about the regulatory battles aren't those the same or similar challenges for both of those companies? >> in a way. i think there's been sort of a distinction between ride sharing and food delivery. food delivery commission caps that have not just been put into place amid the pandemic but are being sorted out right now do they stay go away after the pandemic a number of states looking at legislation while i think ride-sharing battles progressed. uncertainty in california with prop 22, but that food delivery, of course, uber has a business in, and lyft as of now does not raises the question, who has the bigger regulatory battles? uber facing them on both fronts, but you're right in the sense it all relates to the gig economy. >> d., where do you think we are

on pricing early on discounts, famous discounts for coupons and rides and so forth now in a steady duopoly. i wonder does pricing reflect the economic reopening and rising price of gasoline on an ongoing fight duking it out for the incremental customer keeping that pricing in check? >> pricen on the rider side? how much we actually pay for ride sharing and food delivery >> exactly. >> ride sharing right in the u.s. a duopoly between uber and lyft and fairly steady the labor battles likely as in california will increase costs for riders not as much as if they made drivers full employees a middle ground. remember, uber is battling much fiercer competition abroad latin america, battling food delivery front even, still so many players this is far from a duopoly in

the u.s., butalit alali albutalo in the uk and we note it still lost net loss, $6 billion last year where does pricing go from here? not sure a few analysts are looking at the unit economics, particularly for food delivery postpandemic and do they make sense still an open question. >> all right deidre, going to be quite a number to watch. that demand as the economy recovers thanks and meanwhile, encouraging a healthier economy isn't just about raw workforce numbers. starts with equal opportunity. we discuss that and more in cnbc's inclusion and acquisition forum. register at cnbcvents/inclusion.

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welcome back today we continue our closer look what the future holds for education and fork woerrkforce reskilling this, during the pandemic. following you for quite a while now. you help companies offer education as a benefit to employees. those companies include walmart, disney, lowe's, but tell me what's happened during this year of the pandemic, especially when it comes to women in the

workforce, and the sort of reskilling, education it's going to take to get the economy back on track >> thanks for having me and i love that question we learned a lot about online learning over the last year and there's a tale of two stories. one side we know online learning is great for skills acquisition and underrepresented populations who don't have access and also know it's really horrible for the coming of age experience it's not fun for kindergartner's nor great for the 18-year-old who wants to higher college, live in a dorm, go to football games and have emotional maturity going to class. for guild and most women going back to school, oh median learn sir 32 years old, likely a mom and hiring her education institution to gain skills and

economic stabilities for her, sinkynchronous versus taking a bus and child care. the choice is clear. we've seen in the pandemic there's been an increased ability to provide access to education to the folks who need it as it relates to skills acquisition. that's where we spend all of our time. >> what's happening now with that core student that you're talking about that guild serves? maybe early 30s. female because that sounds like the very same demographic that's been hit the hardest during this pandemic, dropping out of the workforce. what's happening with the reskilling and the, i guess the process of getting the most meaningful productivity out of that person's potential? >> yeah. so it's pretty dire. so there's 100 million americans in the u.s. right now, close to two-thirds of our workforce, who

are in need of upskilling and reskilling or risk becoming irrelevant in the workforce before they hit retirement age 17 million of them need new skills in the next couple of years, in order to have security this isn't just truck drivers. it's cashiers. it's folks working in a number of the roles that have really been increasingly automated over the course of the pandemic so our goal, helping that worker maintain some sort of job security, though it's been hoar r -- horrific to see how many dropped out of the workforce and putting them into a frontline role, a wage that's livable. >> curious, since you work with employs, work with companies, wa you're seeing from them in terms of what their priorities are right now? are they still able to invest in

reskilling their workers, and which types of companies are you seeing the most traction with? >> yeah. it's really interesting. in 2009 you saw learning and education budgets just decimated in the recession we've actually seen the inverse behavior this time around. ceos and key chief officers are increasing their investments in their people for -- one -- they realize how quickly the needs of their workforce are changing think about it the body was the unit of production in the 20th century and so employers invested in health care. now the mind is the unit of production in a knowledge economy, and so companies are investing in their employees learning, upscaling and education. second, there are a number of boards in companies realizing they'll have a lot fewer workers, 10, 15 years from now and giving those workers the opportunity to learn a divergence of skills that they might not use at that company

but use as they move on to work somewhere else and still be an advocate and supporter of the brand that gave them that upskilling opportunity i think you see that in the types of innovative companies who employ cashiers and other skills we know are likely to be fully automated in the next five years. >> how have those relationships with your corporate customers changed in the past year how do you see the demands being different now on the other side of covid, in terms of the types of skills employees will need in what's described as a new hybrid environment we talked about earlier in the hour? >> yeah. we see a lot of interest around people management, project management and process management those are the things that computers can't do very well right? those skills get distributed into a whole number of programs. the a guild we help employees learn english as a second language all the way through

advanced abilities, and focussed on distinct skills will humans use cognitive and emotional intelligence in a way we know computers aren't anywhere close and, in fact, will require that level of human and computer interaction at all skills. we're seeing employers start thinking differently about what used to be this false choice between skills and a degree. i get really frustrated when people stand up and say oh, you all don't need to go to college, because those folks often still have savings accounts for their own kids and their own families. so at guild, we're excited to see innovative employers realizing it's a false choice between skills and degrees or credentials and certificates that have market and signal power for frontline works. we're bridging that gap so employees can acquire the skills to do better for today's job and better prepared for tomorrow's job. >> i wonder what you would tell

either kids who are not yet in the work force or say, parents of kids who are about to go to college in terms of what they need to focus on that is different from the things you and i focussed on when we were getting ready to be workers one day. >> i imagine you like i was told to go to college to get a job. i think the new answer to avoid the crushing student debt ought to be get a job to go to college. there are so many companies like disney, like chipolte, like discover, financial google who support you to get your first job and start learning what you do and don't like to do. your skills and competencies, your capabilities tied to your personality and interests and what your gaps are while you then figure out okay, which programs do i want to take first? that allows us to reverse the degree and turn it upside down you learn skills at the beginning and round it out with

liberal arts capabilities. >> from your perspective, what are some of the technology gaps that still exist even within the system when we talk to pearson yesterday, we're going to talk to cheg tomorrow in two very different positions, one a legacy education provider that's trying to transform technologically cheg was sort of born in the digital era. what's the work that still needs to be done to deliver optimal experiences to a group of learners that really need this change as soon as possible >> so two things really stand out to us. we've made huge progress on ensure that all our learners have access to a device. that's been both many years coming and then really accelerated this year. and thanks to partners like walmart and others who have helped their employees make sure they have that access to a device where we're seeing challenges one is broadband right? we believe broadband ought to be a right, not a privilege in this country. so we're hoping we see government action and business

collaboration to ensure that every learner has access to broadband. and two, the thing missing today is actually helping people match what do i do today in my work that i'm good at are what are my dwaps i need to fill and how do they map to jobs in the future. the most excite work we're doing to do with technology companies is around quantum labor analytics and how do we match the jobs of the future with the skills of today and help ensure that every worker feels like they can have a home in the economy of the future? because without that, that's where people really start to have quite a bit of despire and causes a lot of the challenges we're seeing around the country. >> using technology and software to help human workers get a job, that would be good rachel, thank you. >> thanks so much. if you missed it earlier this morning, phil had the interview of the day challenging the lordstown motor ceo on

whether or not they misled people on order flow phil is back as the stock continues to fall. >> good morning. for steve burns, the ceo of lordstown motors, more questions than answers about statements he made in the past when it came to interest in their first vehicle which is the endurance pickup truck. he's said on many platforms including on cnbc that there were serious orders. this morning, we asked him if there were truly orders or were they expressions of interest by potential customers? here's what he had to say. >> we queried them we are very robust interest. and that's just what they are. they're letters of interest. you can't do anymore of that in this stage i don't think anybody thought we had actual ordered right? that's not the nature of this business >> steve burns saying i don't think anyone thought we had actual orders. look at shares of lordstown

motors under pressure ever since there were questions a lot of things at lordstown motors. steve burns has been being asked a lot of questions the sec is looking into it we asked him exactly what are you doing? who are you reaching out to among the potential customers. here's what he had to say. >> so you know, to find out would fleets buy it? would they buy it from a new oem like us? what sort of warranty? we're queried fleets and people and talked to fleets and we've been unbelievable reception. >> an unbelievable reception, but let's be clear, you heard from steve burns this morning, they have no actual orders they may have what they consider letters of interest or reservations hand raising whatever term you want to use, but nobody has put down a deposit for an endurance pickup truck from lordstown motors.

carl, back to you. >> definitely clarified the situation, phil. and as jim said this morning, he felt that burns dissembled thanks to phil as we go to break, keep your eyes on event stocks like live nation you see the stake intraday the governor of new york announcing in the last few moments that concerts can resume in new york city on april 1st. also mets, yankees will allow fans in the stands at 20% capacity but with a rapid test required f ccatn. ovainio we're back in a moment ♪ ♪ ♪

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only at t-mobile. let's get over to dom, taking a look at some of the biggest movers in tech this morning. >> julia, it's the usual suspects when it comes to what's driving the market decline megacap tech apple down 2 %. microsoft down 2 % amazon down nearly 2% and alphabet down 1.5% they make up 36% of the nasdaq 100 collectively semi conductors, a pullback in many of those names. intel and nvidia, semi conductor etf has fallen 9% from the record highs we saw earlier this

year, and one other place to watch, the stay at home work at home plays look at zoom video down 3.5%. peloton down 2 .5% carl, check out what's happening with way fair. up about 4.5%. right now it could be a highly shorted stock. carl, back to you. all right. meanwhile jpm and goldman accounting for almost all the dow's gains. let's get to the judge >> carl, thank you so much welcome to the halftime report the tech reck higher rates and if the stock market is getting it all wrong i'm going to take you to the wall first and foremost. show you where the markets are trading. the dow hits another high today. it's the tech stocks that are under big time pressure. look at rates. the ten-year at 173 this it's the highest level in more than a year. the trend continues.