>> rob >> applied materials the stock up 20% i think it continues to run. >> okay. pete quickly and farmer jim, quick. >> abercrombie, scott. >> apple, scott. >> all right thank you. have great weekend andrew ross sorkin has the exchange, now. thank you. he here is what is ahead this afternoon. feeling hot? inflation numbers coming in higher than expected leading to a lot of questions about how hot the fed will let the economy robinhood traders jumping all in on crypto.

amazon winning its battle with warehouse workers looking to unionize, but the battle is far from over. we have the latest let's begin with the markets this hour. dom has more on that >> andrew, it's a pretty decent move higher today considering what we saw earlier today on squawk box we were kind of waivering but now the dow up nearly 100 points 41.07 the last trade there record high for the s&p 500 there. the nasdaq is flat on the day. 13 138,840 the last trade there.

technology is starting to curry favor once again many are megacap names that drive performance. maybe as traders look at what's happening now, the technology stocks may have been out of favor for longer than some thought. it's going on certain pie list today. back over to you, andrew >> thank you for that. have a fabulous weekend. why aren't we seeing a bigger reaction today >> call this story of how the

market learn to stop worrying and embrace the idea of the faed from temporary inflation wholesale prices coming in at double the gain expected writing with wholesale coasts on the rise and demand surging, it's hard to believe that c consumer prices will not stop. they have cooled off since the end of march reversing the steady climb it's coincided with the latest march hire

threaten to push up prices further. what's unclear, how much ends up in consumer prices the fed thinks some of it will but it will be temporary for now, andrew, the market seems to believe them. >> okay. don't go anywhere. we'll continue this conversation because while fed chair powell says he is not worried about inflation and it's emporary, byron wean had a different take on the very issue this morning right here on cnbc >> it's been my expectation for some time that the inflation numbers are going to be troublesome. that's what we're seeing in the ppi today. i think the ten-year treasury yield is going to rise i think it's going to crash through 2% i think, i don't know, how far it could go but i wouldn't be surprised to see 2.5 or 3% >> okay. let's bring in diane swan and

steve staying with us. we got two views here on very different sides. we have buyer on one side and we have the market on the other where are you diane? >> well i do think the fed is right. the inflation we see will be transitory i think it's interesting that the vice clahair at the fed put time frame at year end to see where inflation is and whether or not it's transitory or more persistent the fed has not managed the expectations of what would be larger flair re of inflation as go into bottlenecks and the demand for good side of the economy and your role on top of that there's impacts of electricity

outages we saw in the oil patch during february that spilled over into cost of refining oil and the month of march as well that's whooi the market has cooled off even that is a tenuous relationship i think that's why the fed is a little more calm than some are at this stage of the game. >> jamie dimon had his letter out and hold up he thinks the market will boom through 2023. he talks about the possibility of inflation perhaps not being temporary and talks about the moment what he calls the paul volker moment do you think that could be upon us maybe not now but two, three years from now >> volker was a very tall man. you have to have inflation rise to a very high level to reach

the heights of a volker moment you know the game where you stand up and somebody catches behind you i think that's in play i think the story is fed is saying we're going to catch you when you fall. we're going to let you fall a little bit further than we have before because we want to make sure that we get back to our 2% inflation goal not obl the idea the market embrace it's temporary but the fed will step in at some point if inflation comes out of control. the idea that jamie dimon is writing about a volker moment is part of the security that there could be a volker moment >> diane, do you agree >> i think it's a great analogy

that steve laid out. the volker moment was the culmination of 15 years of everything from bad policy and policy missteps, including federal reserve that was under the pressure of the nixon administration to allow the economy to rip for the '72 elections and we got the opec crisis on top of that. 80% of wages back in the 1970s were tied directly to cost of living increases that was a cpi the increases in oil prices were getting baked in we had a lot of levelage and labor bargaining power back then that doesn't exist today i don't think we'll get the volker moment. i think one the fed will step in before we get to that point and two, you really need to see wages to back up and sustain the kind of inflation or stag fflato we saw the volker moment is a very different kind of economy.

>> when will we know if this is a temporary situation or we're seeing something move here to me that's the fundamental what are the metrics and numbers we'll have to look at and over what period of time to take the temperature? >> i think it was really interesting that vice chair pointed out i'm looking at fourth quarter i'm looking at the end of the year to see once we get into the fourth quarter of 2021, if inflation starts pulling off, then he'll feel they are in pretty good spot as we move into 2022 and see a 3% handle on unfloimt which is extremely probable in 2022 given the back tail wind of stimulus today. that should get us back into an inflation situation that is moving even as disinflates a

bit. that's a little different than the fed forecast if we get an infrastructure package on this as well, i think you could move up the inflation a bit with wage gains. >> have fabulous weekend steve, good luck playing with your band. i know there will be inflation for the tickets now it's so hard to see you all this time >> we kept prices down >> ticket prices are down. ticket prices are going up this afternoon on cnbc. we have christine lagarde on this afternoon it's at 3:00 p.m. eastern time

technically you can watch it for free as long as you have cable we have breaking news on pfizer we have that story meg. >> pfizer saying it isfiled with the fda to expand its emergency use authorization for its covid-19 vaccine down to include ages 12 to 15. it's already cleared for folks 16 and up. this comes about a week and a half after pfizer presented those data from the study in kids ages 12 to 15 showing 100% efficacy but zero on the vaccine in this expansion trial of 2260 add adolescents in the u.s the next step is how the fda handles this if they want to hold the same public hearing with their outside advicers for the first covid vaccine to go down and

when we'll see that happen big step for pfizer. potentially getting that vaccine in time for back to school in fall back over the you. s >> could be great news is it the same dose, meg in. >> this one is the same dose they will be testing lower doses as well. >> it sounds like the younger you are, that second shot can sometimes be a little bit harder what's the experience as you get younger? has it changed >> what we know is they did a stronger mean response in terms of the aentss created.

we'll see that in more detail as they file with the fda >> thanks for bringing us that news have a fabulous weekend. when we come back, we have a lot more ahead from bank earnings to retail sales what could impact your money in our friday fast forward. coin base planning to cash in on the crypto craze we have details on that next amazon may have won the vote count in unionization battle with workers but some say the fight is far from over all of that ahead. the exchange is back after this. we made usaa insurance for busy veterans like kate. so when her car got hit, she didn't waste any time. she filed a claim on her usaa app and said, “that was easy.” usaa. what you're made of, we're made for. usaa.

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welcome back it's friday. it's time to look ahead to what's in store for your money next week. here is your friday fast forward. >> inverstors are gearing up financials have been one of the best performing sectors. will the return continue we'll get results from bed, bath and beyond delta airlines, taiwan sem

semiconductor. jay powell speaks in washington. as the crypto craze continues, coinbase global will go public on wednesday the company revealing its financials this week revenue climbed nine fold. it had 56 million users and as for the valuation, an eye popping $68 billion. we'll find where the stimulus checks were spent with retail sales for the month of march out on thursday. housing starts will give us a read on the real estate market at the start to have spring season that's your friday fast forward. for closer look at coin base making its public debut which will be the big headline, i want to bring in kate rooney. >> great to see you. coinbase is getting a boost from bitcoin's recent price action. we got some new numbers from robinhood this week showing that start up is seeing similar growth if march alone, robinhood sought

3.5 million clients trade crypto for the first time that was new and existing users. robinhood seen about three million crypto traders per month to start this year to put that in context the monthly averages last year were in the low 100,000s. it has 9.5 million people trading. this could be welcome news for other company, crypto trading has proven to be pretty profitable this week coin base reported 1.8 billion in revenue for the first quarter. it was almost entirely from trading fees and more than the

company made in all of last year ceo bryan armstrong gave credit to bitcoin's rally for that wind fall square in its fourth quarter reported the same revenue just from bitcoin trading nap was a 10x increase from a year earlier. square executives said the users who do trade bitcoin tend to be more engaged and spend more overall. square stock is up double digits the week analysts are expecting to see boost for the payment company as bitcoin prices doubled in the quarter. andrew, back to you. >> kate, thaing for that we'll continue this conversation right now. my question so you is how dependent on bitcoin continuing to rise or at least remain

somewhat steady as volatile as it is. are all the other crypto currencies dependent upon? >> i'm sorry, how much are the other crypto currencies depen dent on bitcoin? >> yes meaning the success of bitcoin in how much it's risen i don't want to say it's stabilized but we're staying in some kind of range here. that clearly seems to have p propelled interest in everything else these other crypto currencies do have their own cultures and communities. i wouldn't say they are dependent on bitcoin another huge phenomenon is decentralized finance which is

linked to ether. it has its own separate community and used for developing other projects. i don't think it's tied to the fate of bitcoin. >> kate, i have a coinbase question for you it's huge valuation for this company. over time, if you imagine this is going to be a huge space, you would think there would be lot of competition in this space there is some today that coinbase has to compete against. but there's not all the wall street firms are not in it yet really what does it look like, in your mind, two, three years from now and what does that say about the valuation of a coinbase? >> that's so interesting you bring that up. i was just reading some analysts notes on this topic. you remember the race the bottom with the retail brokerage firms, everybody was slashing commissions. coinbase has a bit of a

monopoly if there's other brokerage firms that can come in, undercut coin base charges about 1.5% on some of those bigger trades, it's not free trading if there are people that can come in and offer on an existing br brokerage firm, that could be a big threat >> give us the technicals. 58,000 on bit coin just from a technical perspective, what's the upside and downside scenario. the reason i'm focused on bitcoin is i do think despite the various ecosystems that may exist for each of the other, there is a correlation relates to bitcoin

>> bullish for the short term. nobody can predict the price one of the reasons for the bullishness is the institutional involvement and the institutional investment is a relatively new fephenomenon we have seen a will the of the big name players getting to be bitcoin market you have these other big players like paypal. this is basic part of it in erms terms of a risk to bit , the most common i hear is regulatory the u.s. government should be look at this any intelligence they are and looking at it in that context? >> i don't really see any evidence that this is happening.

they maintain strict control over their currency. i don't understand why bitcoin would be a tool of the chinese government >> emily marker, kate rooney, have a great weekend >> thank you when we come back on the other side of this break, fast food is embracing technology more than ever before. for some of it, paying off big we'll look at what they are doing and who is driving it best despite the president betting big on green energy and the clean tech stocks have had a rough year are they due for a bounce back that's the question and we have an answer when we come right back

welcome back stocks higher with a dow and the s&p on track for its third straight positive week the nasdaq turning positive within the last hour the biggest laggards right about now. now, we want to go to rahel for a cnbc news update >> some sad news to report from the music industry dmx has died at the age of 50 in a hospital outside new york city statement from his family says he had a catastrophic cardiac

arrest and had been on life sf support for the past few days. after a successful 1998 day buy he released several successful albums london, many but not all of the people who spoke with reporters said they were saddened by today's death of prince philip. the husband of queen elizabeth at the age of 99 >> prince philip was a wonderful father and a real asset to british life ooem i'm sure the queen is grieving terribly >> maybe not especially with things like it so maybe not. there's a lot of people my age who aren't really for the royals they say it's remarkably well preserved with some rooms

filled with utensils tonight on the news, a walk through the ruins to see kwexacl why some scientists are comparing it to the discovery of king tut's tomb. back to you. >> thank you for that. see you next week. just ahead, amazon coming out on top in its labor battle for now. the avengers take over disney land that's our next story. plus, getting paid to take vacation we'll debate all of that april is financial literacy month as cnbc committed to sharing messages from business and thought leaders about the importance of financial education. here is chief economic adviser >> financial education is important better offense, better defense. better offense earned, managed better defense, avoid three big traps.

the debt trap. you get into too much debt inflation trap when you can't protect your wealth enough and the liquidity trap when you have a payment and you can't find the money to do it

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welcome waback to the exchange it's time for rapid fire i want to catch up with a few stories that should be on your radar and here we go to break down some of the big headlines, kate rogers technology editor tim kovak. good afternoon to everybody. fasten your seat belts amazon is now secured enough votes to ward off unionization am vonazon issuing a statement e votes are over amazon didn't win. the employees made the decision to vote against joining a union.

they say this is far from over shows amazon climbing higher on the news who wants to take it first is this over or is this just the beginning, folks >> i'll take the jump. it is far from over. i kind of agree with what amazon said there the idea that all the energy behind this unionization vote was on the side of the workers, on the side of the union every one from president biden to marco rubio to bernie sanders, seemed like the energy was behind for this union vote to pass. i'm curious what happened. we all know the horrible pr campaign that amazon went through which they had to apologize for. everybody seemed to be against amazon and in the union's favor and here we are.

amazon won >> is this -- it was an intimidation or is amazon that great of an employer >> i think you could argue it both ways. what's interesting is the union coming out and saying that amazon gas lit its employees you have to wonder how much intimidation factored into it and if employees were scared to vote and say they did want to unionize as this gets contested and we find out what more went on with that campaign, i think we'll continue to hear from workers about how they felt about it you have to wonder how much that really factored into them maybe being intimidated to sigh they wanted to unionize i agree with steve the way the campaign was going over the last few weeks this is a surprising outcome >> tim, i have to say, i don't understand this whole thing. only 55% of the employees even participated voting one way or the other. >> i think the vote here is something that we're going to debate for a long time i think the sentiment against amazon, let me talk the stock

quickly. you done nothing in the stock as the commerce trends continue to get better the invest they made means as we go into consumer staples and see pg across kind of their core e-commerce platform they continue to have the poll position aws well positioned. >> okay. topic number two on our hit parade on the rapid fire we'll turn to my favorite food, taco and tech. two of my favorite things. >> technology investments needs to be things that can be co-created and create a sense of

separation or different in the marketplace. we can do something that's novel and unique and breakthrough. >> would that be breakthrough for chipotle >> what's more novel and unique than robotic, autonomous delivery of your food. he also talked about that through the lens of technology and testing things out he didn't give a timeline but delivery and digital a huge part of chipotle's business digital sales climbed 174% half of those coming from delivery in 2020 they want to hang on with the customers and that will donts be a focus as we move ahead they have menu items they

release on digital to engage the customer base there. i think that's something that really smart that they will continue to do this is an interesting move. first significant investment they made who took over several years ago. definitely a space to watch for sure >> tim, you want to on chipotle? what do where you do >> i own young i've been wrong on cmg on a valuation that's opinion tough you'll have 17, 18% comps and digital quesidillas as a few months ago it's been a multiple expansion opinion check out starbucks. their sales were up 45% on digital. tail winds are in their favor. essentially cross pollinating infrastructure and technology with ai and consumer trends.

yum has done a lot love it for on valuation i think cmg has been better executer >> i'm getting hungry thinking about this during "power lunch," i'll have have to have my lunch. disney bringing the marvel cinematic universe for life. it should reopen at the end of this month at around 15% capacity are you coming back for this is this going to be the big

moment that will get people in the parks? steve. >> is that for sme yeah >> i'll send it to you >> i'll take it. if you want to stay hungry, the swarmy is what you have to get excited about. they turn ed it into a restaurant i'm already planning my trip i can't wait as soon as i'm vaccinated, i'm getting there. they owned pandemic at home and now that we're opening up, getting vaccinated, going back to theme parks they will own the culture guys when we go out and have fun on vacations. it's the perfect way to do it. i'm a huge marvel fan. i think lit be really fun.

>> let me ask you, tim, from a stock perspective, this thing has been on kwiets a run do you want to own it here >> look, that is not just that we have marvel going crazy in the parks and we learned that disney land will be gepting open and the excitement around that the marvel series are the two highest rated series right now in the streaming world and disney is winning the streaming wars in addition to this whole dual release. you have this multiple expansion for disney if you want to put any type of a streaming multiple, i think the market has done some of that i think there's a lot more to go >> tim, before you go on this one, you get to by disney or comcast? universal studios, which way do

you go >> you put me in a tough place pashts company of this network has gone into -- peacock is taking market share and i think the whole streaming wars are things we continue to see develop out. i'm low on disney and comcast so i'll say comcast >> you know where your bread is buttered companies finding creative ways to encourage employees to take time off like a bonus day for taking a vacation now or scheduling all company holidays. check this out, pwc might have what may be the most attractive offer. it will pay people to log off. the company will give employees in the u.s. $250 for every full week of vacation booked up to $1,000 a year. i know why people weren't taking vacations before

i get that once this vaccine gets in hands of most, it's hard to see people not telling their boss they are out of here for a week or or two. >> as soon as i'm able to, i won't need incentives to take a nice long trip this seems like something we would have heard more of last year i was surprised to hear such big incentives it's great to encourage people to take time off and recharge. >> steve, let's be honest. how much of this is a -- i don't want to say cynical or be skeptical about the legal liability that companies are worried about when it comes to vacation days being considered a form of compensation and being worried they are ultimately going to have to pay and pay at a higher rate for those days if the workers don't use them

>> i think it's a good incentive because of the purn out. you don't want them to feel that burn out when they are backing and collaborating with their colleagues again i kind of like this move i kind of agree with kate it's a little too late. it would have been nice to see these come out last year when we're all stuck at home and the idea a vacation was just turnening off your iphone for a week and watching netflix all week right now take the vacation you can get now. i think it's good for the companies to be thinking about it just right before we get back to work. every one is refreshed and recharged and raeady the rock. >> have a great weekend. thanks for making my favorite segment another favorite

appreciate it. we have a lot more coming up on the exchange. the pandemic isn't just changing how americans work new study shows it's changing the where americans work and that soon could be looking on the job hunt what to know if kryou're thinki of a career. on monday don't miss cnbc new show "tech check." it appears at 11:00 a.m. eastern time carl and the gang will do something extraordinary with this hour. i'm really excited to see what they do. uber ceo will join them on day one of the premiere. don't miss it. "exchange" coming back after this stay restless with the icon that does the same. the rx crafted by lexus. lease the 2021 rx 350 for $439 a month for 36 months.

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welcome back to "the

exchange." more americans are making plans to return to work but a post-pandemic work force could look very different. one in four workers plan to look for a different job once the pandemic is over joining me now with more on all of this is ken lender, the ceo of broadcast talent agency he's out with a new book it's called "career choreography." he's helped many famous names find those jobs over the years it's great to see you. >> it's a pleasure to be with you. >> tell us about the purpose of this book in terms of what you're trying to tell people to do and let's give it a pandemic twist which is there does steam be a huge group of people who want to make change and haven't been able to during there work from home period

>> andrew, i have been developing career, thousands po po upon thousands over the past 35 years. my goal has been to give people the logical set of steps that they can take to atatain their professional goals which are identify the right job for them, secure it and then attain huge success so with the pandemic, i so agree people have realized the fragility of life. the fragility of health. they want a better work life balance. they may want to work remotely they may want to be closer to family we have different values, many of us now. we want more meaning in our jobs the first step that i talk about in career choreography about

making change, first of all, are you happy with your job? is it a toxic environment? are you encouraged, supported? it's the people make a change to something else if it's the job then you job, t to figure out a new line of work and what i talk about is dig down deep and think about what you really want for a new job. if you've been working, that presupposes that you have the experience to tell yourself, what don't i want from a new job? what don't i like with what i have now what would i love to do. what would make my heart sing with regard to a new job >> right. >> make a list i call it a clarified list and decide what it is that you want from your new job. >> ken, i got a complicated one

for you. i think a lot of people have gone through the pandemic, have had realizations about a lot of things including work/life balance to move or change the number of hours that they're working. if they go to the job interview for whatever the next job is that they think will give them more work/life balance do you tell the person interviewing you the part of the thing you want to do in truth is actually work less >> that's a great question, andrew obviously employers want to make the best deal they can, the most value from whatever hire they make so going in there and saying, i want more work/life balance and spend more time at home maybe the best way to handle it is it's all about leverage. let them love you. do the homework. show the potential let them see what you can be for

them and then as you work at this particular job let them love you and then while you're in the job try to negotiate more time at home, more -- better work/life balance because if they love you and they know that you can bring it in the workplace hopefully they will do everything they canto keep you which in part will be satisfying that desire for a better work/life balance. >> it's a great message. let them love you. let's hope that all of our bosses love us thank you for joining us of course the book is called "career choreography." when we come back, a lot more to come we pass the one-year mark in the pandemic and thanks to the improving economy there's good news in the mortgage market. we'll have that when we come ckft ts.ba aerhi

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welcome back as the economy improved some troubled homeowners are getting back on track paying the mortgages. diana olick has the latest

numbers. >> reporter: this is the sixth straight week of declines for the number of gof and private sector mortgage bailouts the number of active plans fell by 228,000 or 9% in one week that's according to black knight and not unexpected because it's now about the one-year mark for those that went into the plans when they were initiated those plans had a one-year limit and allowed borrowers to delay monthly payments that can be tacked on to the end of the loan the improvement was widespread but fha and va loans led the way. newly getting into plans continues to improve down 18% from 4 weeks ago. 3.2 million homeowners are in

f f forebearance back to you. >> that's a people still in these bailout just real quick, how much better are these numbers than had been expected >> reporter: significantly better remember, when we started this we were heading to the 6 million mark and improved over the year and 2 million still in there and plans have been extended now through june so you're going do see more people come out of them in the next month as the plans expire and some people may be forced to sell their homes it's a very competitive housing market out there. >> okay. thank you. that does it for us. "power lunch" is next after this quick break. why keep it in different places? sofi is a one-stop shop for your finances- designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etfs, and crypto.

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welcome to "power lunch. i'm morgan brennan with tyler matheson amazon wins a vote to keep the union out of the warehouse in alabama. we'll tell you where it goes from here. vegas is back, baby! we get the latest on the reopening from the ceo of mgm resorts. and it is safe to get back to the beach this summer