outset this is an interesting vehicle because a lot of times when you buy a value etf you're getting an overweight to financial and energy and this gives a broader sector representation. >> steve weiss, quickly. >> i bought volkswagen and ditched by ownership in porsche. >> volkswagen. dr. j., a name. >> mpc, marathon petroleum it's jim's stock and i love the upside calls. >> that does it for us the exchange is now. here's what's ahead. a quarter of new leadership. last year's market losers became 2021's biggest winners will the rotation hold in the second quarter ahead of tomorrow's big jobs report we'll tell you where recruiters are seeing the most demand. and google is accelerating the partial reopening of its offices. we've got the exclusive details. we begin with who's got the numbers. >> people are making money on the long side here it's green across the screen for

the major indices. right now at session highs 4012 this is the first time the s&p 500 has crossed that 4,000 level. still, 4012. 1.5% gains showing some signs of life for the nasdaq. it's outperforming as interest rates pull back a little bit. breaking down what's happening within the markets we are seeing one part of the market showing real signs of life as of late. in certain parts of the semi conductor or computer chip business, applied materials, kla corp and texas instruments be each of these gets a gold star because they hit an intraday high in trading sometime day and then some of the high growth names. interest rates are pulling back ever so slightly those growth oriented momentum names are coming back into focus for many traders tesla shares up about 1%, wayfair about 6.5%

fastly up 4.5% and interest up 5% as well so keep an eye on those momentum valuation type names. melissa, back over to you. will a new quarter be more of the same with a rotation in cyclicals leading the way? energy coming off its best quarter ever industrials posting an 11% gain and one of the biggest laggards was technology, up less than 2%. joining us with their strategy and picks for q2 are jerry castellini and nancy tangler good to see you both nancy, i will start off with you. do you stick with the playbook from q1 or do you change >> good to see you, melissa. i think you adapt. you must remain overweight some of the cyclical groups and consumer discretionary is our biggest overweight along with industrials. but i think you balance that with an overweight or at least

market weight to technology. we have been sort of pounding the table during the first quarter that this trade is not over the market in my view is reacting to more robust growth rather than interest rates we could have that debate, it doesn't really matter, the stocks were down and we see some names that have done nothing for six months, like a microsoft, that will probably be a good bet for the next 12 to 18 months. >> nancy brings up a good point, jerry, in terms of the big cap tech stocks that have gone sideways for six months but the names are the biggest tech stocks in the world effectively. do you see some opportunities there, especially as being in the reopening trade seems to be so tempting as we ourselves, as we get back to our normal lives? it's tempting to just say, you know what, the pandemic is over, let's switch gears here. >> yeah. we have to acknowledge where we are, right the primary thing is professional money managers like us are really torn right now

because we've had these great leaders that have pulled back or gone nowhere and we're wondering whether it really is time to jump in the water and buy the cyclicals. i would argue two things number one, those tech names, while they're probably going to continue to be sources of funds, they probably have seen the worst of that and it's more going to be a function of who can continue to execute and show in microsoft's case that they got very solid upward momentum but the other side of this, melissa, is to just look at the names that you can find that have a cyclical play but don't necessarily have to be all in tech or all in thematic momentum and we have lots of ideas for that >> and we want to get to them, but i do want to ask nancy one more question in terms of being in the cyclical trade and this balance between wanting to be in that trade and recognizing where that is where the growth is. if you take a pair and i'll pick these two stocks, general electric and netflix, nancy.

interestingly right at this moment in time they are at the same exact forward pe of 54. so at this juncture, how do you start to look at these sorts of stocks where you have ge with this massive run here today and you have netflix too >> yeah. that's the conundrum i do think that in the case of ge, they are in the sweet spot of many of the areas that benefit from infrastructure. we don't own either, so that's my disclaimer, but i would be more inclined to look for opportunities in names like netflix that would continue to put up growth, and that's really what i think is going to reward stocks in the next two to three years. we're participating in this value trade but i think it's a trade, more of a cyclical movement than a secular trend. and so that's why we're barbelling our 40 pol portfolio

because that's what we have to do. >> jerry, some of your picks fall into the same conundrum they have had some pretty nice runs at this point in time do you say maybe the best is over ford, i believe, is one of your picks, jerry that's up 38% this year. this year. so what's next people bought cars during the pandemic will they keep up at this pace >> yeah, so it's our view that, first of all, we think the s&p is going to hit 4,500 in the next year so there's a lot that has to come into the markets to satiate people's needs to be in the market you can buy tesla today but you can also buy ford a tenth of its valuation but participate in the electric vehicle phenomenon. you acknowledge that you're not in the market leader, but ford is as good a play at this valuation as anything in that space. go to the payment processors

you could own paypal today it's probably the lead valuation and momentum play. but mastercard sits here as the best play in recovering travel and there is just a powerful play on all of that. the last is essentially looking at the gambling industry and las vegas sands. las vegas sands add a duopoly in two of these asian markets, yet their balance sheet is cleaned up and they'll get as good a cyclical pop as anybody. if you take those three names, all of them have great presences, growth, long term, momentum building businesses but they also have this incredible cyclical side that i think is going to fire here and reward investors in both ways. >> neither of you have mentioned the specter of rising taxes. nancy, how do you start thinking about corporate tax rates going to 28% i mean back in the day when

corporate taxes were 35%, you know, prior to the 2017 tax legislation, there are a lot of funny things going on. corporations would go overseas there were inversions, et cetera, to escape the tax rates. what should we expect, do you think? >> yeah, i'm concerned about that you probably saw in my notes i think the market has not yet reacted to the probability that we will see an increase in the corporate tax rate and i think from an investor standpoint, what we hope for is that the cap ex spending that has already occurred and will continue to occur will likely put downward pressure on unit labor costs and we may continue to see productivity-led growth in the economy much as we did in the 1990s. but if this goes too far, if we do get to 28% and not to 25%, which is the global norm, then i think we need to begin factoring that into our models because pes

will compress in the face of that i just don't think -- maybe they don't care, but i also don't think they understand that as a 35-year observer of tax policy, fiscal policy and washington, d.c. so i am concerned about it i don't think -- i mean there's so much power behind the economic growth at this time i don't necessarily think it's going to put the kibosh on the bull market but i think we'll see action if this bill goes too far. >> we might see a sharp pullback in buybacks which would be another floor that could be gone guys, great to see you, jerry and nancy. we got a letdown in the jobs market the labor department reporting first-time unemployment claims hitting 719,000. that's higher than the week before but adp reported private payrolls expanded at their fastest pace since september last month

recruiter sentiment is at the highest since the pandemic began. let's welcome in the ceo of recruiter.com. so you're feeling good, your sentiment is high. what does that mean? >> yeah, you're right. it's up to 3.8 the sentiment from last month's 3.7 so it's the highest since we started at the recruiter index at the beginning of the pandemic. but there's some interesting things that we're seeing the workloads went down from 18 to 16. covid's impact on jobs are actually up from 17% to 27%. this is how the recruiters are actually feeling so we're seeing this strange phenomena where the workloads, and if you look at the employment numbers, the college educated jobs are actually getting filled much, much faster that unemployment level is much lower than the noncollege-educated jobs so we're still waiting for those less skilled labor or

noncollege-educated jobs to really come back if you look at the data that we had, we saw a really good increase in the logistics supply chain by 40% in terms of the in demand from last month to this month and we're really hoping that's going to have a nice surge in the actual employment numbers for the month. another thing that actually flipped is the priority of candidates shifted to compensation over remote work. these two have been fighting it out neck in neck for a while now. the last time that happened, we really saw a good surge in the larger volume roles, like logistics. so you see now on the graph now, i.t. and health care still remain pretty high sentiment, although i.t. is slightly down that could actually bode exactly what i was saying before, that the expansion of the i.t. really happened now we'll see a little bit of a slowdown as those jobs are harder to find. >> so the flip of compensation over remote work, that really

reflects the idea that americans are psychologically ready to go back to work, go back to the office, go back to things as normal they're not as concerned about the pandemic and catching covid, for instance >> yeah, that's right. someone asked probably months ago, gee, are people not going back to work because of fear or was it because they got their stimulus check as you see now, they want to go back to work compensation is now taking over slightly again from remote so people are ready to go back to work. let's just hope the jobs are there. the adp report showed a really nice bounce in leisure and hospitality representing a real significant percentage of that, i think it was 32% of the total adp jobs were actually in leisure and hospitality, so those are in the less college educated and i'm not going to drive a generalization, but more volume oriented jobs. >> which subsector of services is the slowest to come back, the slowest to show that bounce? >> yeah, i think the customer service and retail are still

really lagging it's those customer-facing roles. one thing that we started tracking a few months ago was the use of video every industry is changing or most industries are changing as a result of the pandemic we really believe that video first screening will really play a significant role we now have one out of every three of the recruiters that participate in the survey are using a dedicated video screening tool but only 20% actually require a video first. that would probably tell you that there are far fewer customer-facing roles that are getting out there right now. so that would be your customer service, your retail sector, really want to see those bounce back in order to really see those numbers really, really move quickly. >> evan, great to get your insights thank you, evan sohn. >> thanks so much. coming up, first out, first in google was one of the first companies to send employees home last year. now it's calling them back we'll get the details of their accelerated reopening plan. speaking of offices, we'll

talk to the ceo of hudson pacific about what he's seeing in the real estate market. that stock outpacing the market, up 15% google is one of the biggest tenants. "the exchange" is back right after this >> announcer: this is "the exchange" on cnbc.

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welcome back to "the exchange." google was one of the first major u.s. companies to send employees home last year at the start of the pandemic. the tech giant now speeding up plans to bring employees back to the office starting this month cnbc.com technology reporter jennifer elias joins us now with the very latest. jennifer, what are their plans what are they telling employees at this point? >> yeah, so google's chief people officer sent an employeewide email yesterday to employees basically saying why there's still a deadline of september 1st, they're starting to move employees in starting this month by no means are they saying employees need to come in right now, it's we're starting to see improvements in some areas of the country and so in some areas

you may have the option to come back starting soon google is trying to get employees to take seriously and to know that they really value collaboration and in-person work this is a little bit different from what we're seeing from some other companies that, you know, like facebook, which said that it sees at least 50% of its workers doing remote, twitter, square, saying they can do it indefinitely google is historically a very collaborative company, they really like employees to be there. they have secretive projects that they need people to be in close contact with so this is really an extension of that. they're saying we want people in the office. >> you have to wonder, jennifer, is this is going to be one factor in a job search for somebody if they're deciding between a job at google or somewhere else, where you can remote work, if google is at a disadvantage or maybe an advantage because of where they're placing the

emphasis on corporate office culture. >> yeah. i think that's a good point and people will probably make decisions based on that. i think google -- google's return plan, though, is -- starting in september they're still going to adopt this hybrid model so employees will come into the office for at least three days a week but still get some flexibility there i think google is smart and wants to make sure that has the best talent. it's not going to be too rigid they're giving employees options if they do want to apply to go to a different office or a location and so there's just some extra hoops to jump for that if they do want to do that long term but overall they have been on top of organizing this and i think they want to keep the talent that wants -- not this one size fits all but a sort of more flexible approach. >> jennifer, thanks. jennifer elias, cnbc.com. google leases more than 1.2 million square feet of office

space. hudson pacific properties, which also counts amazon and netflix among its tenants. many have warned that commercial real estate will take a big hit from remote work hpp isn't seeing that. they have just leased space isn't san francisco and silicon valley the stock is up 15% so far this year victor coleman is ceo of hudson pacific properties great to have you with us. >> hey, melissa. >> is the difference what we're seeing in cities on the east coast versus what you're seeing the nature of the industries you serve? >> you know, i think what jennifer said on your earlier piece is exactly the case. these creative companies who built their entire reputations based on connectivity and collaboration are realizing that the world of office space, which defined a long time ago was more people and less space is changing to destination space and connected space and the tenant mix is creative tenants,

tech tenants, media tenants. >> so you signed 300,000 square feet of office space in the first quarter alone. are they big tenants leasing big amounts of space or startups i'm trying to understand where the demand is coming from. >> you've got a lot of smaller companies that are coming due in the renewal processes. they realize they need space and so they're renewing for short to midterm times. but we did a large lease with google google is our largest tenant they are way ahead of everybody else i think their connectivity is part of their mantra and they want to grow their perform in silicon valley and other markets with us they have been very, very active. >> so for a tenant like google is it because they're hiring more people or is it because they have the workforce and need to space it out. so many offices eliminated walls and configured people in pods. we have that here in the cnbc newsroom as you go back to work we have to think are we going to be

working in that environment once again? >> the numbers speak for themselves you saw us get down to 150 feet per person in most spaces. now you're seeing it go back to more like 225 to 250 so you're exactly right. it's the same amount of people but they're spreading them out and will have different timelines in terms of when people come to the office. but i think the whole key is and the catalyst is connectivity is coming back, and coming back in a very big way and so these companies that are prepared to support that are the ones that are going to succeed and you're seeing that a majority of tech companies are making decisions today like google and amazon and the likes like that. >> did you have to make any rent concessions or lease concessions to any of your tenants, victor have we seen all of that wash out from your balance sheet in terms of the impact? >> i think the majority of that has already come through in the last 12 months the deals that we're doing now are starting to approach sort of pre-covid numbers. the key is concessions and concessions have been stable all the way through. >> concessions meaning lower

rents? >> meaning tenant improvements and free rent. >> in terms of the new leases that you're signing, are they -- is the rents per square foot or i'm not sure how you measure it, is that back to pre-covid levels >> almost 100% there. >> wow okay, so we're back. victor, good to speak with you thank you. >> thanks, melissa, take care. >> victor coleman. coming up, morgan stanley says there is one big tech company out that that's the netflix of gaming. the name and the reason behind it. plus a brewing battle in the home rental market a look at expedia's new strategy to poach airbnb's super hosts. "the exchange" is back in two.

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you can pick the best plan for each employee and only pay for the features they need. welcome back to "the exchange." markets are in the green we've got green arrows across the board. the s&p 500 is up 0.9 of a percent. the nasdaq composite is up 1.4% even in the face of a 10-year yield at 1.68% the vix earlier in the session went below 18 and it's sitting at just about 18 right now taking a check on the sectors. energy is leading the s&p 500 with a gain of 1.86% utilities pulling up the rear, just slightly on the negative side taking a look at some of the movers at this hour, shares of emergent biosolutions which produces an ingredient in the johnson & johnson covid-19 vaccine is sharply lower following a quality issue with a batch of the vaccine doses rendering an unknown number

unusable shares of micron higher after beating at the top and bottom line better than expected guidance. separately the company is exploring a deal for a japanese chip maker that stock up 3.5% western digital a suitor in that deal and that stock is higher by almost 5%. shares of carmax lower on weaker than expected sales. they noted robust growth in march helped by tax refunds and stimulus but the stock is down 6% now let's get to courtney reagan for a cnbc news update. here's what's happening at this hour. in an interview released by espn on youtube, president biden calls the decision to reopen texas rangers stadium at full capacity a mistake, saying it's, quote, not responsible to open without attendance limits. he also pushed back against governors and other state officials who have lifted mask mandates. kimberly clark, the maker of huggies, kleenex and cottonelle

will be rising prices on many of its products the price increases will start in late june the orange police department holding a news conference after four people, including one child, were killed and two others were injured, including the suspect in a mass shooting at an office building in orange, california, wednesday. the wounded gunman was apprehended after a shootout with authorities be sure to tune into the news with shepard smith tonight for more developments on the third mass shooting in the u.s. in less than a month. that's a cnbc news update at this hour. melissa, back over to you. >> courtney, thanks. coming up, piper says there's one streaming service whis unrivaled. plus bitcoin and baseball is all ahead. first it is time for show and tell we show the chart and tell the story. today's chart frontier airlines. the stock is lower now below its ipo price. the ceo staying optimistic about

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president biden is hold his first cabinet meeting right now. let's get right to it. >> and while most of the cabinet will have a role in helping shape and press the jobs plan, today i'm announcing that i'm asking five cabinet members to take special responsibility to explain the plan to the american public working with my team here in the white house, these cabinet members will represent me in dealing with congress, engage the public in selling the plan, and help work out the details as we refine it and move forward. these five members will be pete

buttigieg, jennifer granholm, marcia fudge, marty walsh and g gina raimondo. i want to thank them in advance for this added assignment i'm asking them to take on we'll be discussing that today among other things one of the other things for this administration is a commitment to buy american, a plan we're putting forward, to make sure that when the government is spending taxpayers' money, that they're spending it on american-made goods from american corporations and american employees today i'm directing every member of the cabinet, i mean this sincerely, every one to take a hard look at their agency's spending and make sure it follows my buy american standard which we set out in january. i'm going to ask you all to report back to me at the next

cabinet meeting. and now we've got a lot of business to do and get done. i thank the press for being here, but i'll talk to you all later. thank you. >> talk to you all later, that's our cue to get out of the room there. president biden elaborating a little on his infrastructure plan which he outlined yesterday in pittsburgh saying he's going to direct five cabinet members to explain and sell this to the public, also direct all agencies at the federal level to take a hard look at what they're spending on and make sure they're buying american when they can it's time for rapid fire here are robert frank, michael santoli and molly wood first, the firm is pressing play with a 605 price target. netflix has established a growth tem template it includes consistent subscriber games, modest price

increases and unrivaled original content production and quality shares of netflix are getting a boost today, still down more than 10% from their 52-week high in our market conversation at the top of the show, mike santoli, i was putting to nancy t tengler that netflix and ge's forward pe are the same right now. what do you think of this call >> really you're saying the stock could get back just a little past the all-time highs yeah, you've had massive valuation compression. i was looking at netflix relative to disney netflix was at 50 times cash flow two years ago, disney was at 10. now it's netflix at 35 and disney around 30 or 31 so clearly it's the incumbent, it's playing more defense than offense in this more crowded field and it's kind of just more incremental gains in terms of preserving its franchising content but locking up the

password stuff and pricing so it's a little bit less of an exciting innovative story and much more about blocking and tackling. >> it's not exciting or innovative anymore molly, these are fighting words here i mean is it really the incumbent that has to defend itself against all these startups or is it the centerpiece in a streaming menu that consumers have and you add a little bit of netflix or a little bit of viacomcbs? >> well, i think the problem for netflix is that the more you add, the more you end up paying. and so netflix is starting to look like the one that's going to have to spend a ton of money on original content. disney is consolidating so much content it's starting to feel like cable and those modest price increases keep making it the most expensive one in the bunch i actually think it's fairly vulnerable if you've got ten different services, it's starting to look like the one you can cancel. >> robert frank, what is your

menu of streaming services in the frank household? >> we have everything. i can't cancel netflix because season three of formula 1 drive to survive just started. i'm hooked on that docu-series i love formula 1 yes, they are playing defense from a stock perspective if you look at the content side, they had 138 original series last year. 180 original movies. that's in 2020 when there was a slowdown in production yeah, it's going to be very expensive. but in this might for, let's say most families have three or four streaming services, there'sno question they will always be number one or two. as far as price increases go, in my house, they could double the price and i would still have to pay given how much my daughters watch netflix. so in the short term it's going to be a bite to profits. but their content is just massive and getting bigger. >> automatic pay on the credit card really works in netflix'

favor. speaking of netflix, let's turn to microsoft morgan stanley is calling it the netflix of gaming. they are drilling down on their $14 million gaming business given that it's in talks to get discord. the content, community and cloud would allow people to game wherever they want whenever they want shares continue to climb higher after winning what could be a $22 billion to deliver ar devices to the u.s. army that happened yesterday. in this particular example, mo molly, is it good to be the netflix of gaming? >> in this case i think it's great to be the netflix of gaming, especially since discord is free to use for most people the challenge for microsoft, look, this is a great move if they end up buying discord yes, there are gamers that are horrified by being part of the big machine. but microsoft succeeded in leaving minecraft alone. they would instantly acquire a great big community.

as long as they can figure out how to let discord be discord and also talk to xbox, they're definitely in the good part of the netflix space. >> not too long ago, rob eert, l the big companies were into gaming amazon was, google was trying to do that and here we are. they both basically effectively dropped out and you've got microsoft left is it theirs to take >> look, i think microsoft is like the three cs, it's content, cloud and community. this ticks all those molly had right. if microsoft leaves discord alone and lets it grow, this will be a great buy even, by the way, $10 billion for a company that generates $130 million in revenue. if they overpay and then undermanage it and leave it

alone, i think it could be good for microsoft. >> where does this leave gamestop, mike, dare i ask >> well, gamestop -- first of all, i think it is worth actually checking in on that gamestop story, as if nobody before thought about selling video games and video game content online before we had a little bit of a disruption in the board of gamestop. so i don't think it changes that story necessarily, but for microsoft, the $1.8 trillion market cap company, you can buy f a relatively low price relative to microsoft some kind of access to a fast growing realtime network where there's a lot of eyeballs being consumed and i look at what stock purchasers are happening discord is an adaptable platform, not just playing games. softbank had compass debuting compass calls itself a

technology business but realtors are skeptical of the techie story compass is trying to sell. >> from my experience there hasn't been any technology that i can single handedly point to and say this has changed my business better. >> whan t kind of technology, robert, do they think that they have that other companies don't. a searchable database? i don't know what kind of tools would be unique to compass. >> what they say -- look, hats off to robert reckon, he came out of nowhere and now has $3.7 billion in revenue they have a crm system, a very searchable database of real estate offerings and have sort of what they call an end-to-end solution for brokers the challenge is they have proven very good at spending money. over $900 million in operating losses over three years.

but can they make money? and the challenge is they are split with brokers right now, somewhere between 80% to 85% that the brokers keep most firms around 65% to 70%. by the way, their biggest competitor is valued at around a fifth the market cap that we now see for compass. so i just don't know given those economics and the need to grow by acquiring realtors what their long-term goal is for profits. now, this morning he said realtors aren't driven by fees, they're driven by clients when it comes to who they're going to work with. i know you and i are real estate obsessed and realtors do care about fees and right now compass is paying the best on the street. >> that's their advantage but that's too bad for investors now that it's a publicly traded company. molly, for them to say it's all about the realtors and keeping them but it's also about the technology, i mean their sales pitch is a little muddied.

>> it is i think you see a lot of companies right now in the market i think fin tech is an example who are putting a tech veneer on what is basically an old or pre-existing business model. so it's heartening to me in some ways to see the market say you actually have to prove this, and ideally make some money with this strategy. that is not to say that real estate is not an industry that is ripe for some kind of disruption, but i think the idea of having more of it online but still making people go sign a huge amount of paperwork is not the transformation that makes you, you know, the business that you're promising that you are. >> closings still have to happen in person for the most part or there's a lot of things you have to do in advance to arrange for it not to be in person. a happy opening day. while baseball fans rejoice that the 2021 season is here, we have an update on the story from the oakland a's. the president said fans could

purchase a six-person suite for one bitcoin making them the first team to do this. well, the offer expired today. they have sold just one suite and a 10-game package for a fraction of a bitcoin. not exactly a home run the team does plan to hold the bitcoin. this is interesting, mike. you're a baseball fan. what do you think of this? >> i would say a moderately successful marketing gimmick and has to be considered mostly a marketing gimmick. oakland is in the bay area they have this old and kind of chronically not very inviting stadium. they always struggle with attendance they're very scrappy and have great success on the field but the golden state warriors used to plal over in oakland before they moved over to san francisco and they tried to cultivate this silicon valley, we're up on the newest tech thing. i see this as part of that rather than a financial gambit.

>> the next thing they should do, robert, is create some sort of nft bitcoin is so like five months ago. >> yeah. nft of a ticket, that would probably fell for more the challenge of using bitcoin to buy anything, you pay taxes every time you use bitcoin on whatever gain. so you could end up paying taxes of over $20,000, including california state ordinary income taxes when you buy this. so that's like a $65,000 swuite that you're actually paying $80,000 or $90,000 when you roll in the taxes that's a lot of extra hot dogs that you could buy just because you're using bitcoin instead of cash. >> robert frank, mike santoli and molly wood. well, spwe'll get the detai in the battle of the online bookers, next.

welcome back to "the exchange." the competition in the home rental market is hosting up. seema mody joins us with the details. hey, seema. >> hey, melissa. expedia deploying a massive sales team to poach airbnb's super hosts. highly valuable homeowners who have proven to be a cut above the rest with good ratings, reviews, minimal cancellations and a higher occupancy rate. that's why expedia has been targeting them through direct marketing and social media expedia ran a pilot program on 1600 vrbo homeowners who joined from competing sites and their bookings have risen on average by 25% this follows airbnb's stellar performance in the public market and that's prompted its competitors like expedia and booking to get more aggressive, especially considering the fact that the latest vacation rental

data shows that demand remains very strong going into the summer mel. >> seema, this sort of assumes that the demand for homes as opposed to hotels will remain strong even after the reopening. >> here's the thing. the travel recovery is going to be so strong that at least according to preliminary data that we're receiving from expedia, booking, air dna which tracks all of the home rental data suggests there will be demand for homes and hotels as well so prior to 2021, the conversation was around which part of the travel market will win. this summer it looks like there's demand for both. but it's not in urban cities, it's in remote locations. >> seema, thanks seema mody. still ahead, fans turn to social media influencers, but one app is turning the tables and letting users influence the influencers. we'll talk to the ceo of nunu next. watch us live on the go

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fastest growing type of small business now one app called nunu is giving everyone the chance to be a creator. you heard me right here to explain is courtney smith, the founder and ceo great do have you with us. >> thank you. >> i got to be honest with you it is intriguing but sounds weird. how does this work >> yeah. so it is essentially a decision making platform that lets you go to control the outcomes of other people's lives so your input imma impacts what a person will do next it is an interactive experience for pretty much everyone involved. >> can you give us an example? >> you purchase a level of voting power in someone's life and vote on what they need help with and rewarded by watching

them live out the votes and the more votes purchased for a specific person is the more chance your vote coming to life why there's trust between the user and the person who's paying to engage with them. and from what we have seen people always so far always end up doing what received the highest number of votes because it is like a sign of appreciation to the people who paid for that privilege of being involved in your life and you don't want to let them down and have a great two-way relationship. >> in the notes that i have from the producer you use the term a human stock market. who. >> purchasing shares but purchasing voting power in someone's life and you kind of

taking bits and having the ability to control things that they do and that's where that rem reference comes from. >> if i wanted to go on the platform and say, hey guys, you want to influence my life? can i dictate the parameters on the control. tell me what sweater to wear today or how i should do my hair or something like that >> yeah. essentially it's exactly that. we have people who use it every single day before they go to their gymnastics practice, figuring out what to wear to the practice, helping them figure out what to eat for lunch or dinner or go it plays into very small mundane things but also there's a few people like we asked someone that decided to get a puppy and she got it because of everyone that voted so it can be exciting and crazy and simple decisions, as well. >> you have a lot of big

backers. is there a way to expand what is the vision >> for us we definitely see newnew becoming a utility in people's life and for the every day person to monetize and make money by being themselves and living their life. it doesn't matter how boring you think you are somebody will find you interesting and we are also getting a point also in society where we're so desensitized now because everything is so overly contrived and produced and seeing something that feels raw it is so much more enticing to us and that is what the platform is doing no filtder very to the point and dry in the moment and people are really resonating with that. >> it is in beta test but i'll look for it. thank you. >> thank you. >> courtney smith of newnew. we have a news alert president biden has requested

that education secretary cardona prepare a report on the authority to cancel up to $50,000 in student debt per borrower white house chief of staff ron klain said with politico today hopefully we'll see that in the next few weeks and look at the policy issues around that and then make a decision remember, on the campaign trail, the president said hesupported loan forgiveness that does it for "the exchange." coming up on "power lunch" shares of group 1 soaring. "power lunch" is up right after this quick break

we see smarter software delivering cleaner power. emerson's breakthrough technology enables the power industry to integrate renewable energy sources to modernize and improve the electric grid. emerson. consider it solved. diane retired and opened that pottery studio. how did you come up with all these backstories? and improve the electric grid. i got help from a pro. my financial professional explained to me

all the ways nationwide can help protect financial futures in peytonville. nationwide can help the greens get lifetime income because their son kyle is moving back home and could help set up a financial plan for mrs. garcia. and he explained how nationwide can help mr. paisley retire early and spend more time with his pal, peyton. and their new band. exactly! yeah. don't forget the band. i haven't.

good afternoon, everybody. welcome to "power lunch. with rahel solomon i'm tyler matheson the s&p 500 topping 4,000 for the first time ever. offices are reopening. wokkers rehired. a blowout jobs report expected tomorrow. every stadium will host fans today for baseball 100% capacity in texas even met fans have hope but the game with