final trades names only liz. >> transportation. >> xpo >> tmo >> bunge. >> we did it even with delay that does it for us. "the exchange" is now. happy monday here is what's ahead from gamestop to doge coin, if you feel like every someone getting rich quick, you're not alone. when fear of missing out in this market taking over demand is soaring for shares of companies like clubhouse. the supply isn't keeping up. how can investors still get in early on next big ipo. tonight the stock up 20% in a

month. record profits are expected after the bell can they deliver or will production problems catch up with them. we got a lot on production issues in the auto market today. we start with the markets. dom with the set up. >> if you look at the markets and talk about the hot things that are happening now we look at one hot part of the market that continues to remain hot and one part that may be cooling off a little bit for the dow industrials, the s&p and nasdaq we are sitting within striking distance of a new record high. we hit one this past friday. the dow industrial is flat big tech a luj focus the six biggest component offense the s&p all reporting their numbers this week at some point. a third of the s&p overall the hot part of the market that continues to see some moment despite the one-third of a percent decline is transportation index it did hit a record inintraday high it's up 83% over the last year by the way, it's now 12 straight

weeks of gains for the dow jones transportation index keep an eye on transports. one very hot part of the market th that's cooling off is etsy it's down about 4% the worst performing stock in the s&p. the online retail platform is 211% higher over the last year now analysts at key bank are saying maybe it's a sector weight, the equivalent of neutral. they say the near term potential for catalyst may not be there as much as it has been in the past. they still like the long term but etsy hairs after massive run over the last year cooling off a bit. it's now the equivalent of a neutral. keep an eye on those shares. back to you. >> one of the best pandemic plays out there. thanks >> we're into the busiest week of earning season with one of the highest profile names. tesla reporting after the bell the stock surged more than 7 07%

in 2020. it's only up 4% so far this year it's facing some major head winds. one of its vehicles was involved in fatal crash this month. in china, it was the subject of protest at a recent high profile auto show. what does tesla need to say tonight, let's bring in a senior research analyst craig, it's good to have you here what is the most important thing you're looking for this amp? >> i think the most important thing for the direction of the stock is really going to be what they have to say about the cut end of this new sx and what this means for margins. a lot of people are focused on margins. people are speculating as far as whether they will plhow much th many will miss and dump into preferred revenue. what matter s the forward look and that will be the margin on the flu model s because i think that's the one that's probably likely to sell a little bit better a lot of people are waiting for

that or waited years for the new vehicle. >> you're saying we are kind of expecting the quarter to be supported by regulatory credits and deferred revenue but we're talking about on focusing in on what profit markets will look like for the model x going forward. what are your current expectations >> i think they will probably have mid-20s margins on these vehicles out really in the third quarter. second quarter it probably will be a ramp to maybe mid teens to upper teens. there's always inefficiencies on the start up tesla manage these very well as vehicles who cut in over the last couple of spcycles but the third quarter is when the labor will be fully tuned. everybody will be operating smoothly olyminimize the head cn and that's when the margins will be mid-20s and maybe better on

those vehicles >> i know when we talk about this in a moment about the china market for tesla, the opportunity there. some of the nervousness around building on that opportunity but i want to talk india with you for a moment because you're seeing that could be just as big opportunity. is that going be a problem for them, something that could contribute to nervousness around their growth goals and abilities to execute on those? >> the use of masks and the availability of vaccines will make things a little easier for them on the roll out in india. really what i think is more

likely to sort of send tremors throughout is further visibility on the apple car and what resources apple will put behind it so the next couple of years >> let me ask you talking about profit margins for these vehicles about two issues that are constrained and that's labor where every industry is reporting issues i don't know if it affects tesla or could in the future and also the chip shortage. they don't seem to be as vocal about this affecting them, does it >> it could but tesla is a important customer they have managed to recover most of that over the last couple of years. there are the largest customer globally for silicon carbides. that's the most important chip in the vehicles.

>> what do they need to hit today? >> i think it would be exciting if they talked about the mini car. we have been saying for while we expect this to be made in the german facility that's coming online in the back end of the year that's what can lift them to some chunky numbers in 2021. that's one thing we could get people pretty excited. there's been some flirting around this but a serious statement, serious message out there will be very good for the stocks v good for sentiment and that's probably what i would focus on >> we got to go but you sound pretty constructive on it. is this the -- >> am correct, is this split adjusted your price target is 150 >> i love the company. i love the industry. i'm a bull on evs and on ev sales. when you have 7, 800 billion dollar valuation in the total value of the u.s. and european automotive market, doing less

than a million units, at 35, 40 million unit market, that is what we can call egregiously over valued. they sl l have real competition. lit be more than 500 competing vehicles on the road by 2025 in u.s. and europe. i think people are much better off in small cap and that's what that articulates >> thanks again. speaking of tesla, it dud have plenty of competition from chinese auto makers who are looking to move in on its turf we are live in shanghai with more hi eunice. >> reporter: seats like every one is putting out a competitor to the model 3 which last year was the best selling electric vehicle in china we followed two tesla owners at the ongoing shanghai auto show and see whether or not there has

anything that could break their loyalty to their beloved car brand. >> they come the the shanghai auto show to see if many of the chinese tesla wannabes can stand up >> do you like >> reporter: he works if finance. he's in i.t. he dreams of upgrading to a tesla roadster he loves his model three so much, he sleeps in it. on their list, established car maker, the zeekr 001. >> what do you think it reminds me of a model three, he says. next stop the et 7 by new york listed nio >> when i driver it, it will feel like no >> looks like a model three. some didn't merit a visit. he doesn't like the company name but he did find car he does like

by newcomer. tesla has problems with panel gabs it's gotten better but not like there. to judge car you really need to know how it drives after a day kicking the tires. >> i still choose tesla for now. >> you still choose tesla? >> yes >> how about you >> buy a tesla >> reporter: they said the biggest draw for the tesla is compared to the chinese models was mainly the functionality of the car. they said at the end of the day it just works a little bit better it's much more seamless. that's one of the reasons because of the data collection that tesla does, it's been able to get that experience and really stay ahead. >> it's one thing to like your car, it's another to sleep in it that's some serious fandom does tesla have cachet there because it's american?

does that hurt the brand or is it a nonissue because it comes down to panels he was talking about? >> at the end of the day, the consumers will make the decision in terms of tesla's overall future, right now, tesla is very useful to beijing. it's brought in technology, the supply chain factory if history is anything to go by, beijing will grow tired of tesla and we could already see some of that weariness going on today. the big question for tesla going forward is going to be how much it can out innovate and also out maneuver beijing and whether or not it really connects with the consumers here because one of other pattern we see is beijing does think twas ice when it com to brands very popular with masses >> it's so well put an

fascinating to think about the executives deciding whether or not it's worth it to do business in china with everything you said and for now the answer seems to be yes. >> it's great to see you thank you so much. other top story today is apple. one tech giant to another. stst it's planning to add jobs and facilities across the country. josh is standing by with these details for us >> apple already has a footprint in north carolina but now it's about to get a lot bigger. today tim cook's company announcing it will be spending one billion dollars in north carolina as it builds a flunew campus and engineering hub with a focus in ai, machine learn and software engineering apple says investments will generate over 1.5 billion in

economic benefit and create a 100 million dollar fund to support schools there and contribute over 110 million dollar in infrastructure spending here is north carolina's governor on the news >> with this announcement, apple is showing they are just not creating jobs in building a new campus they want to be a kpcommitted a partner with our state for the long term. >> this news comes as part of a broader announcement by apple that it will spend 430 billion dollar in the u.s. by 2026 creating additional 20,000 jobs in this country over that time as for north carolina specifically, local reports do suggest that apple qualified for incenscentive programs for comps there. apple can receive grants totaling more than 29 million a year once they hire the 3,000 people or 8800 million in total.

kelly, back to you >> they were criticized by peter teal with their ties to china, just their reliance on china you wonder is this meant to forestall the criticism. >> incentives like this are present. we know about them i think this will probably be seen as relatively more generous than others. it is interesting because you hear states saying they will cut back on incentives but when you see this news out of north carolina what is driving home these programs are very red hot and popular especially when states know they will have to compete with each other for the very kind of sort of high end, well paid tech jobs that tim cook will be creating there. >> i guess it just works that well because apple wants the workers as much as the workers

want them. they would stand todynamic thanks so much coming up, i've never seen it so frenzied that's what one expert says. we'll look at what kcompanies ar getting top dollar for their shares clubhouse has attracted the attention of a very lucrative group, the nfl we have the details ahead. take a look at shares of spotify. they raise prices on u.s. family plans by a dollar a month to 15.99. they raising prices on several plans in the uk. spot up neearly 4%. we're back in a couple

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welcome back the race to discover the next big thing has silicon valley deal making at all time highs. it's 40% higher than the record from 2018. the average valuation tripled from year to year. my next guest says he's never seen a frenzy of deal making

larry, it's great to have you. let's use clubhouse as an example. what are you seeing there? >> well, clubhouse, that's one i can't talk about that much >> that's okay >> it's been in the news a lot there's a lot of demand for it and the valuations are high high relative to, i don't know what the revenue is but, yeah i doubt it had revenue >> yes revenue is a luxury. tell me about what it's like, the calls you're fielding, the interest people have in getting share offense companies they are hoping will be the next facebook or the next big ipo. it's maamazing first quarter of this year we're seeing activity peak so much why is that? >> i think it comes down to supply and demand.

ever since covid hit it's had tremendous return. the investors want to chase those returns so they go earlier and earlier which means they are not just buying the ipo or after the ipo, they are buying before the ipo. there's less and less companies that areprivate to purchase now. they are getting bought by spacs. >> that's a great point. is it a good thing they can access these companies earlier on with spacs now? does it mean it's less up to who

you know and how much money you have in order to be one of the few who can get in this early on what could be the next big thing? >> this not really market for individuals. there's a lot of protections in public markets for individuals i deal mostly with institutions, large family offices, venture funds, secondary funds, university endowments, hedge funds. it's a tricky space to buy privately. it's tough >> absolutely. my final question is what happens from here? now that we have seen valuations, kind of what you're implying not every company will become the next big thing do you worry some of your

clients are just rushing in to make a quick buck and end up not doing so >> they know they will lose money on some and some they will get huge returns on. they buy a lot of company stocks it's deploying a lot of capital into a market that's been just increasing at a tremendous rate. >> thank you for joining us. >> absolutely. coming up, covid cases are

surging in economy and it's not just the economy that could be affected there and wall street the smallest next big thing in airlines frontier is attracting lots of bullish attention. the exchange is back in a few. did you know that petco, is now a health and wellness company? i adore their groomers and their vets our physical, social, and mental health cared for in one place. ♪ petco. the health and wellness company.

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welcome back to "the exchange." let's get a check on markets

other two major averages positive the s&p only by six points the nasdaq by 85 energy and financials are your leaders. about a 1% gain for energy here are some of the movers. chip stocks are seeing nice gains. sigh works, xilinx and amd up. retail, not fairing as well. sketchers is down. american eagle, urban outfitters and ambercrombie is down the airlines are starting the week off strong. american up 4% one carrier in particular, getting a rlittle extra love. it's frontier airline. the latter the recent for an upgrade to buy at deutsche bank.

frontier group off the highs of the session. still up 1% today. let's get oaf the rahel for for an update. >> state of new york announce basic new round of easing including office capacity limits going from 50 to 75% out door spectator vents will see their limits rise from 20 po 33%. new levels go into effect in mid-may. fist time buyers drive record gun sales in the u.s. despite covid restrictions keeping gun stores closed in some states see how sales may be affected by the supreme court's decision to consider new york's concealed weapons. on mars, nasa ingenuity helicopter is going faster and farther. you're watching the third flight that covered 164 feet at a top speed of 4.5 miles an hour one of the brightest full moons

of the year illuminating sydney, aust australia. americans will get their chance to see it tonight. it will be brightest at 11:32 eastern time it's also called the pink moon >> my son loves the moon maybe not at 11:00 p.m. but we got to get him outside >> that's a little late for me too. >> it's late for everybody not everybody but for us if you have fear of missing out on the market when it's hot, my next guess says don't because that's a good way to get burned. the name and the reason straight ahead.

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marke markets are sizzle." jason, great to see you again. welcome. >> thanks. >> i love what you hone in on is the art of issue subtracting from your portfolio than adding to them. i feel like i know what you'll stay about gamestop and dogecoin he has says you can own three stocks you can own one and that might be a better way to go but he would probably be first to say you do have to do your homework in that case >> i think it's really important for investors to separate investing from trading from speculating from gamab gambling. there's nothing wrong with gambling or speculatie ing as l

as you know that's what you're doing. you don't want to let it contaminate everything you own and all your strategies. if you're the kind of person who used to enjoy going to vegas for the week or buying a lottery ticket, there's nothing terribly wrong with doing that in your portfolio as long as you segregate it and keep it from infecting the rest of your thinking >> i've heard that some great traders, for instance, professional tradersing big time money managers will do things like when they enter a trade write down when they exit it once you're in it, you change based on new information and to keep yourself honest you say going into it, i said if it's up 30% or if it triples, that's when i exit and exit can go be the hardest part >> it's very difficult especially at times like this and for individual investors when emotion can really sweep you up you see online and through

social media so many people boasting about their getting rich quick in the old days you used to have to go to the barbecue or dentist officer of getting rich quick. it's important to set the boundaries before you make the trade so you can remember why you're in it in first place and have a plan for when you'll get out. >> say i own bitcoin and i'm trying to figure out when to exit it. what would you say i'm sure your answer is partly depends allow big is it in your port gfolio and so forth stocks you can analyze with cash flows. but with something like that, is the answer everybody thinks they will know when to exit but if they knew that, then they would never be the one sitting there holing the bag going i should have sold back when it was at fill in the blank. >> probably for most people, the

easiest approach with something like bitcoin is to set a target percentage of your overall portfolio, you're willing to commit to it or risk on it depend on your point of view there's lots of people out there who think it's going to 200,000 or a million or the moon and that's fine. i think that's where you might want to draw a line in the sand. you are find it very difficult to let go unless you pre-committed to a target. >> do you think this moment is going to pass? this kind of unique moment where sports shut down and empg everyy started trading stocks or there elements that will be long lasting. i'm sure if i were an investor

in robinhoods, i hope you say the latter >> i think there will be some lasting effects but as the economy opens up, people will have better things to do all day than swipe right or left, which ever it is i forget on their robinhood app or whatever other trading app they might use a little bit is fine so long as you treat it as entertain m and not your retirement account. >> i hope it lasts but it would be more fun that way i radther have people in and ou the real world thank you. great to see you >> thank you >> when you're thinking about fomo, don't forget the threat of higher capital gains tax which biden adviser confirmed why the

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welcome back let's catch you up on a few stories that need to be on your radar. welcome, everybody throw out first story because we know about the labor shortages the numbers came in. they were horrendous they were down 58% we all know why. no one watched movies. i want to ask you if they will ever come back take for instance, nascar and the financial crisis the sport never recofvered. it's the straw that breaks the ca camel's back and i feel like you'll disagree with me. >> people watched the movies and the second is there glitz and

glamour. this answer this year was no, no and no many people did not watch movies i streamed most of movies at home i've not been to a movie theater in 14 months number one movie that won the most awards with three oscars was available to stream on hulu is no coincidence there. this was not a year for big, big movies the other two things, i think are huge factors and could help the show come back next year there was no host and no highly produced musical numbers which is something people tune in for as well. i think you look at the fact that fewer than 10 million people watched this year, it's got to go up from here >> it's all on social. again, maybe this was just my life on maternity leave. i couldn't tell you any movies i don't know who the big musical acts are if these certain people on inst instagram. i don't know if it has the same cultural relevance that it once

did. i wonder if this will be the moment it was like lost for good >> you know, i sort of wouldn't be sprurprised when it was when you look t the programming that breaks through is much more likely to be big show on a netflix or hbo or some independent film that shows up in handful of theaters around the country. >> ul julia, i think casey is making a good point. >> casey makes a great point casey you're making a great point but so many movies were delayed from last year, delayed from 2020 into 2021. come mid year the theaters will have new top shelf movies every single weekend there's going to be so much more

con tent that will be in contention for the oscars. things will change >> michael, where do you fall on this >> the oscars has not had a worth experience in terms of erosion of audience over time in t terms of linear television i think you'll never get back into an up trend you're not going to reverse the trend of total eyeballs watching this show but it will probably get better than this year. it was only a couple of years ago that people thought that award shows were the perfect two

screen viewing experience. you watched twitter and you watched the show >> the social would help it. are there investable impl implications from all this >> it salesp totally understand. give it six months every one will be talking about the next marvel movie and we're off to the races >> that's probably true. i think there are implications that are secret to the market at this point you saw netflix performance. streaming overall representation in terms of awards and productions. i think the market kind of understands that if you look at how disney and netflix are traded for years >> julia, we'll give you final word >> look, i think it will be really interesting to see if people want to return to movie theaters the theater chains believe they do want to return to theaters and numbers indicate that hbo max simultaneously releasing

movies on streaming at the same time they are available in theaters does not seem to be hurting the box office but it's still a little too soon to say >> if you thought amc would react to this news, shares are up 11% maybe that tells us something. let's move along citi thinks google might be gearing up to be competitive in the car business the tech giant may be testing local car search results stip citifor has a buy rating. this is more than $14 billion market they might disrupt. should they be taken seriously in this arearena? absolutely figure out how you can build a better version of that and just

integrate into the search results. we have seen used car sales explode last year. more people are searching for them now that have been searching in a long time google has the ability to win in this market and if they can fight off the anti-trust concerns, i expect them to play heavily here >> anti-trust will be my next question it's interesting to watch amazon and google they never really do anything with an eye towards this may look bad for the regulators >> there is a vast market. we're now a small piece of it. they haven't completely over taken these verticals. if you look at travel, for example. booking holdings is still out there. i don't think it's necessarily an all or nothing story.

>> that's fair let's move along and talk about the privacy battle between another two tech heavy rweight giants apple is including an update that includes the privacy tool this is what facebook has been fighting facebook main point of contention is this will hurt small business advertising they says app tracking transparency could drop sales 60% for some of these small businesses that seem like a huge blow >> that's a huge blow. that could put a company out of business harvard business review did say they think the 60% number is over blown it's not that big. there's a lot of debate here we don't know how many people will opt out i was looking through some of the surveys. the ma jjority of people will o out of ad targeting just under 50% people will opt in i've seen numbers ranging from 90% of people opting out to 50%

of people opting out the question is how many people will facebook be able to target with ads this is not just going to affect facebook it will affect a range of companies. i think facebook is really going to have to draw on its tools to enable small businesses and large businesses to target in other ways >> casey, how do you expect users to react and use it or turn it on or off. >> this is something that users are going to have to opt in to be tracked on facebook it's a pop up dialogue saying this is a way to keep facebook free and a way to help snaul businesses maybe more people would opt in but they will have to say yes i consent to being tracked most of us in the circumstances don't want to be tracked i do expect to have a significant affect here. >> yeah. we want to plmove along for timn

purposes i don't know what i'll do. i might say yes. if you connect the dots that this really -- i'll give you final chance to react to this. if i know i'm hurting small businesses, maybe i'm reluctant to do so i know i'm being tracked every which way anyhow >> i think that's why facebook is making that big push and apple says you should get to control your privacy they make very valid points. you can't quibble with what apple's point is >> it's like i appreciate what they are doing but now they put me, the user, in off the situation. finally the nfl is teaming the up with audio chat platform clubhouse to produce programming for the 2021 draft fans can drop in on discussions among key nfl figures. they can join the conversation themselves the nfl has worked with emerging platforms before they have been very tech forward in that sense. this is what you were saying with the oscars.

the idea the second screen can help the first one the nfl draft will be a key test of that. >> this is an event where the ratio of talk and conjecture and opinioning is tremendous it's almost no rabbit hole too deep of people into this want to travel so maybe perfectly suited for clubhouse. want to go an i know what i have read and fair disclosure. >> i have dabbled and then quickly left thank you all. been great to have you this hour we have in a news alert on the president's plan to increase capital gains. eamon? >> reporter: that's right. the national economic counsel director defended the president's proposal here to increase capital gains tax and making the case from the podium that there is no evidence that the level of capital begans taxes historically has had any significant effect on the economy. he is pushing back on critics saying if you increase capital

gains taxes on the rich you d disinventivize investment. he says it's an important priority here and a principle for the biden white house to equal out the level of taxation on work and wealth as he calls it and suggesting it hits a very small number of people, not just a tax on the 1% or the half of the 1% but hits .3 of 1% of americans so a small number of very rich people will pay the tax and the biden white house defending the proposal this capital gains tax debate seems like it will never end. >> the markets seemingly priced it in. the dow down 30 on confirmation. thank you. india recorded record covid cases for the fiftsth raight

day. that's next. ♪ ♪ ♪ ♪ ♪ ♪ it's hard to hope, hard to cope with crisis. so we get to work. we mend, fighting for every person in every neighborhood; we, the coming of the common good. so dare to care, to be hope-sided. we're never divided, when we live to give, we always live united.

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welcome back india reported a record number of covid cases for the fifth straight day with more than

350,000 reported infections. seema mody is following the story for us. >> a tornado that's how a doctor in india described the situation to me this morning there's a dramatic effect of the crisis on the economy. major cities, financial capital accounts for 6% of national output under lockdown and no sign of abating. hospitals overflowing. short and of oxygen. president biden spoke with india's prime minister today and said the u.s. will give aid, vaccine materials and therapeutics but markets are nervous. there is a more selling than buying of india related etfs last five days outflows of $120 million and beyond etfs it is a hot destination for technology

on the bet that india will lead asia in growth and innovation and where y the pressure is on mody and the leadership to stop covid. >> how might it affect the global supply chain? >> there's general electric to apple that manufacturers iphones there. this is a big destination for kimberly clark and technology and supply chain and a big effort under way for a couple years and been this administration in india that's been selling this dream to foreign investors that come here manufacture in this country. set up shop. we will make it work but with this crisis unfolding in india you wonder whether that pitch works going forward. >> right i wonder what the cause of the spread is. articles say we don't know if it's a variant or false sense of

i inoculation. have we learned why today and why spreading there? >> seems like all of the above and the prime minister blamed for instilling a false sense of security in the citizens allowing the economy to reopen sooner than it should have perhaps and new variants here and coming the u.s. as well. >> thanks for keeping us up to date that does it for us today. after this quick break i'll join tyler for "power lunch." okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need.

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good afternoon i'm tyler matheson literally alongside kelly evans today. the celebrity ceo elon musk, that guy, will host "saturday night live" next month we'll talk all things musk as they report results in a couple of hours. ceo pay is a hot topic several companies shelling out big bucks while the companies struggle through the pandemic. cowboys and crypto how did wyoming become a haven for cryptocurrency companies we have all that and more as

"power lunchst