change if you go in certain parts of manhattan today, if you go downtown, things seem pretty much normal. but midtown is very, very different because you just don't see the level of office worker traffic in midtown, do you >> it is a ghost town these days sure is. all right. thanks for watching "power lunch. happy mother's day, melissa. >> thank you >> closing bell starts right now. >> welcome, everyone wall street is die digesting a shocker. but we have record highs in the session. let's look at what is driving the action it is all about the jobs report coming in 266,000 for april, well below estimates of 1 million jobs

the unemployment rate actually rose to 6.1% tech stocks are seeing a big rebound, nasdaq climbing 0.9% led by names like roku, zillow and match. and energy sector had a strong week, now up more than 8%. 59 minutes left to go in the trading week going for five days in a row of gains. >> and coming up, a big interview with cathie wood her flagship etf is down 11% on the year and 30% from its peak she will join us to discuss the volatility in tech and then later, transportation secretary pete buttigieg will talk about the infrastructure plan and the jobs report miss. and joining us to discuss the

jobs report is steve liesman along with dana peterson and mike, let's start off with you and the markets. nice ending on to the week >> yeah, a jarring number this morning but taking it in stride. it provided a bit of excuse for the growth stock z to bounce a bit and maybe not change the overall story in terms of recovery even if the pace is a little different this is a one year chart, so it will get a little compressed but basically we're sort of threatening to break out of the three week range and once again, you know, we're sort of right back just like that up at the upper end of this path we've been on since october 30th obviously we've had pullbacks along the way. but right now pretty much clinging to that trend line. take a look at one version of the treasury yield curve two years versus 30 year bonds you had yields drop and upon reassessment of the underlying jobs number, longer end

maturities actually had the yields bump up so basically the shorter end says that the fed won't do much, but the key is, it sort of kept the shape of the steepening yield curve. we're down off the highs from before, but it is not really changing the overall conclusion of the treasury market which has a pretty decent recovery along the way. and the fed won't be doing much. sector-wise, financials versus technology, it definitely provided an execution to have oversold buying in technology and other growth areas but this is a year to date chart. and tech has really been churning sideways. a little bit of a tentative bounce you you would never call it a move toward leadership role, but financials were able to catch a bid during the day because the yields did pick up at the long end. >> how about energy as a leadership sector? i mentioned it in the open, up

another 1.4% as a sector now doubling from its 52 week low. and up 40% for the year. what is driving that >> well, it is definitely rising demand expectations, also a global rush to own commodities and to use scarce commodities. so there was a draw on inventories in terms of crude oil and products this week so it does seem fittings into that idea, copper making new high, all of these things in scarce supply. and i think also fenergy stocks, you see how depressed they were at the lows. and so that is sort of a meaner version to the up side >> and let's talk more about that jobs report joining us, dana peterson from the conference board and steve

liesman. steve, you've had obviously a good time today to dig into this in detail. is it as worrying and shocking and surprising as when the numbers crossed initially? >> i think shocking is probably a wrord you coko word you could use but not really worrying. i think that we'll get the big numbers that we need foto put te country back to working. and first of all, a lot of things about this report don't make sense because we do have strong economic numbers. we have a lot of stories about reopening and the economy. we have plenty of stories about hiring and jobless claims falling. it shows strength out there. and so it may be just a matter of timing and getting the data right. some of the things to worry about obviously are the issue of high unemployment benefits, schools not being open, concerns of workers going back to work

because of health reasons. and all those things that may be holding back the rebound >> dana, what is your take and why did we have that miss versus expec sxenk expectations >> this wasn't a good month, but we'll probably see strong gains going forward. and that is prefaced on the fact that when you look at growth last quarter, almost 6 percentage points. and so we're looking for healthy gains in the second half of this year again i think some of the misses within the report include things like well, maybe people aren't going to grocery stores, they are going to restaurants maybe they are not doing takeout. so we saw strong gains in restaurants, not so much in grocery stores also potentially you could have ups and downs when we saw

manufacturing weak and cru construction weak. but again, these are sectors that have been outperforming and fundamentals suggest that the housing market is strong, still strong demand for manufactured goods including tech so i think we just had a bad month. >> steve, there is also increasing anecdoteses and we hear it from companies of labor shortages and finding it hard to fill these jobs. how is that possible with 8.2 million people still unemployed since before the pandemic and jobless claims numbers still around 500,000 a week? >> yeah, i think that is a good question i think the answer has to do with where are the jobs open, where do the people live what are those jobs that are open and are the people who are out of work, do they have the skills to dothose jobs i think that it is a matter of especially when you look at women, participation rate of

women actually fell this month if you look at that 20 and over. whereas all the gains came from men. men came back to the workforce the idea that women -- i think it is 2 million women remain down in the workforce from february 2020. and the idea that they are not back tells me something about what is happening with the slowness of schools opening and the readiness of these primary caregivers to go back to work. i think that that is a big issue. also the issue of health concerns that are out there. and plus, we can tell a couple stories here we can tell a story of yes, unemployment benefits are keeping people on the sidelines. and also another side to that story, the story of that they get to be a little more choosy about what jobs that they go back to. and maybe negotiating for higher wages. >> and mike, clearly this might give the fed a little bit more time before they have to tighten. that said on the flip side, the dollar's weakness which may also

continue, fueling commodities even further and again, that will feed into the inflation dynamics that the fedfed has to consider >> i don't know that the fed will be responsive they want to be a trending move at and above their target. so, yes, there will be offsets to this idea that now all of a sudden we're entrenched in this zone but i do think that it makes sense for the market to conclude that the fed wants to see the numbers up front that we can rely on this basic lir being kind of a status quo and remember equity markets always love elongated expansions maybe the which ieconomy doesn'o better, but it is got a big issue if you will have job growth even if it is not a million a month. >> chair powell said they want

just more than one good jobs number and so does this change the trajectory, does it alter the timing at all for the tapering that the fed is planning to do, scaling black that $120 billion of asset purchases >> i think the last time we heard powell speak at the last meeting, he saidblack that $120 of asset purchases >> i think the last time we heard powell speak at the last meeting, he said that we're not thinking about changing the stance including lowering large scale asset purchases or raising interest rates and certainly datoday's data fe into that narrative where they want to see considerable improvement in terms of the labor market i mean, as steve liesman said, we still have many, many women unemployed the unemployment rates for black and latino are still higher, that gap between themselves and the national average is wider than normal.

also a lot of people who are low skilled workers or have less than a college education, many of those workers still have elevated unemployment measures and we're at a 40 year low, those metrics don't suggest and even if we had a million jobs added, many of those metrics still suggest that the fed is not at the point -- is not seeing data at the point where they would feel comfortable raising interest rates right now. >> very quickly, a lot of times how a market reacts depends on how it was positioned. and another quick answer to the question, i think that this market felt that there was risk from a strong number today of the fed speeding up. this low thumb takes that risk off of the table >> steve, dana, thank you both up next, former fda commissioner dr. gottlieb on this week's

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near session highs, dow up 227 points intra day record highs for the dow and s&p 500. part of it, more than 80% of companies that have reported earnings have topped estimates showing the strength of the american recovery so far and there is progress on vaccinations too underlying that, though the pace is slowing. nearly 43% of americans over the age of 18 are now fully vaccinated and 57% have received at least one dose. and joining us now is dr. scott gottlieb doctor, great to have you. with these kind of numbers on

vaccinations, when can the u.s. be like israel, no masks, back to concerts and normal life fully? >> i think things will feel pretty normal as we get towards the end of this month into june. you are seeing rapidly improvin pinkt a picture around the country oregon, colorado, still have rising cases but vaccinations are continuing to increase and i think this summer we'll start to feel pretty normal. >> so the next step is kids. and obviously you're on the board of pfizer trying to get emergency authorization for younger kids to get the vaccine. a new kaiser family foundation survey found that less than a third of impeaches of children under the age of 18 would get their kids vaccinated right away how important is it for this recovery and this herd immunity

we're trying to achieve to get the kids vaccinated? >> well, it matters, but the most important thing in terms of protecting children is getting consults vaccinated. in israel, as you get to higher rates among adults, it also started to dissipate in children as well. i think if pfizer does get the thoorgs for 12 to 15, i think that they will pick up probably about 5 million kids there are 17 million kids in this country age 12 to 15. so i think as we head into school, wedding who pick up another 5 million. but i think impeaches will vaccinate kids some initially, others as we head into the school year. >> so where do you stand on the debate around whether or not it is right to wave protection for some of these vaccines >> i think that the problem with the trips accord that the united

states recently announced is that it won't solve the immediate challenge. it creates a perception that we've solved the challenge of global distribution, but we really haven't done anything i think if the administration is serious about trying to get more vaccines into low and middle income countries, we'd stop hoarding it, supply more to the countries. start making investments to get more doses inproduction. between now and the end of next year, we'll have at least 12 million vaccines so there will be plenty of supply coming on line. the problem really is the problem the next six months getting enough vaccine in the next six months into brazil, india, parts of african. we are sitting on probably 100 million doses. so we need to share what we have and ramp up the existing manufacturing where you have a

stable manufacturing base. >> one of the biggest questions out there right now as far as all this progress is india and these mutations coming out of there, whether they are able to fully track them, the double mutant variant do we know for sure that those mutations so far coming out are protected by the vaccines that we have currently? >> we don't know for sure. we believe that the variants that we've seen around the world, the vaccines still afford a degree of protection but it is just experimental evidence at this point bottom line, the variants are here in the united states, they are global they are rising spontaneously everywhere around the world. 617 does appear to be more contagious, probably on par with 117, but it is here in the united states already. it is note importing it from india.

it is here >> we had frank del rio on yesterday, and he was critical of the cdc's new rules and guidance for cruising. he called them absurd and it was unlikely to see cruises set sail from the u.s. in july or august. do you think that the rules are a little unfair on the industry and why would they be different say from the faa's rules as it applies to air travel? >> i'm advising norwegian on some of the public health measures i think that the cdc has consistently viewed the cruise ships as a different kind of environment. and in some respects they are. but in a lot of respects what the cruise industry has been willing to do in terms of requiring passengers to be vaccinated, putting in place a lot of measures should mitigate any potential increased risk in that environment so i think that the industry has done a lot to reduce the risk and i think that the cdc could

be more accommodating. >> yeah, you've made that point a lot lately i wanted to ask you about a tweet that you sent out that was looking about the possibility -- looking at the possibility that covid-19 originated in a lab which has been a theory out there, the w.h.o. doesn't agree with it. but the article was about this it doesn't confirm -- we read the long article and it doesn't confirm that that is what happened but the fact that you tweeted it, is that something that you think needs more attention and you think this theory has more credibility than maybe originally thought >> i think that it is more than a theory i think that there is a lot of credible evidence to support the possibility. and i don't think that we should dismiss it i think that this requires a very hard look by different bodies around the world. and you've seen a lot of vie r groups dismiss it without taking a hard look at it. and i think that there is a possibility that it did come out of a lab

and it wasn't deliberating manipu manip manipulated, but as it got adapted for experimentation, it got more humanized, got more likely to infect the human population >> that is fascinating and we look forward to more updates. always good to sea e you. >> thanks. and we're climbing toward session highs. 250 points higher on the dow nasdaq up 1% in the red for the week, the other two in the green still ahead, cathie wood will join us to talk about the pullback of late in some of her funds top holdings and a check on bonds, trading in quite a range today. the ten year slipped following

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when you post your first job at indeed.com/promo time for a news update >> hey, everybody. here is what is happening.

for the first time in its history, california's population fell last year america's most populist state lost just over 182,000 people in 2020 state officials blame falling birth rates, less immigration and a rise in deaths during the pandemic a senior cdc official who was among the earliest to sound the alarm about the coronavirus has resigned in february of last year, she warned that the spread was not a question of if but when contra difficulting many in the trump administration and spring flowers are getting a chill from may snow showers. not unusual to see some snow there this time of year, but you could say that they need it. marquette county is still 85 inches below normal snowfall levels and imagine a rodent that is already rabbit sized shortly after briirth

a zoo in berlin have three of them, the first to be born in a zoo in six years back to you. >> not the cutest little baby animals, but thanks. and up next, cathie wood will be with us to talk about her fund's pullback and which stocks are on her radar to buy next

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welcome change.

welcome back near the session highs nasdaq pushing 1% of gain, dow up 250 points. and nearly 3% of gains for the dow on the week as a whole and ark flagship etf has skyrocketed over the past couple years. the etf really picking up steam last year as retail investors piled into the fund. but falling 25% in the last three months as a number of high

growth momentum stocks have pulled back. and cathie wood is joining us now. thanks so much for joining us. >> happy to be here. thank you. >> let's touch on this sort of country pullback do you welcome that as a long term buying opportunity for a lot of the stocks love or are you feeling the heat a little bit? >> oh, i love this setup you know, the last time i was on, i think i said that this rotation was good news because it meant the bull market was broadening out, it was strengthening. and the worst thing that could have happened to us is to have the market narrowly focus on just our ilk of stock, the innovation space instead it has broadened out so year to date i think energy is up 40%, financials are up 27%. and from the peak in mid-february, our strategies are

down -- well, the ones that have been hit the hardest, not all of them, are down 30% to 35%. i love that setup. from our point of view, five year time horizon, nothing has changed except the price and therefore the return which at the peak of the market and of our strategy in mid-february, we expected a compound annual rate of return of 15% on average per year from our strategies now that the prices are down, that number is somewhere in the 25% to 30% range >> you may love the setup, but it hasn't been great to your business worst start to the month on record, you've seen outflows of a billion dollars. how are you managing the declines and speculation that if the outflows continue, it would

be hard to meet redemptions? >> first of all, i don't have to worry about redetermimpredempti. the etf ecosystem is a beautiful thing. i highly recommend it. and so what that means is when i am making decisions, they are investment decisions i have nothing do with the flows. the etf ecosystem, the authorized participants, the market makers outside of ark, although of course we're overseeing their actions, they are if atill facilitating our f. and they are doing it derivatives and i think the ecosystem has become quite profitable for them. so we've experienced no problem. if you look at our spreads, there has been hardly a disturbance in our spreads as far as flows actually, we've been very gratified. i think if you go month by month now, this is end point to end point, we have not seen a month

of redemptions yet and i don't want to say never, i mean of course we're going to get redemptions. and in fabin fact when we get redemptions, because of the i in-kind nature, we are able to offer a much more tax efficient strategy or portfolio in this wrapper than we ever could have in a mutual fund >> i wanted to dive into some of the talking points people have put out. and the first one is what you would say to those people that have criticized the way in which you have held your own etfsen with one of your other etfs. do you accept that that is not an ideal thing to be doing >> this is the 3d printing fund

within the space etf, arkx and because 3d printing is the killer app is aerospace including space, we felt it very important to have a good smattering of 3d printing. 3d printing is a smaller cap space. and so we felt that because it was so important that we would put it in our fund however, our clients are not being double charged that comes out we do not charge them double fee. instead, they have a very well diversified participation in 3d printing which i think as more and more people understand how important it is going to b aerospace, not just rock ke9s a and satellites, but also airplanes and including the engines, i think that they will appreciate why we own 3d

printing >> and whether the 3d printing etf or a couple of the other holdings in that space like netflix, like deere, should that etf be called just the innovation etf is the space exploration the lead part of its title a little bit misleading >> no, not at all. what we believe and comparing and contrasting to the other offerings out there, which have satellite radio, satellite tv, the old world, we believe that the next frontier here where there are really money making opportunities is not space tourism, it will be a very small market in the short term, it is two markets. mobile connectivity, there are 3 billion people around the world who have no being a set to netflix, broadband and the internet

and the satellites that spacex and others are putting up there now are going to give those people an opportunity to xwk a par become a part the netflix family so we thinkthink netflix will b new jersey beneficiary deere because of its name and everybody knows it is tractors, they think it is old world, old dna, for a more industrial company, they are one of the most progressive companies i've seen embracing technologies. now, farming is going to become much more efficient. productivity gains will be enormous as we start using drones to identify exactly how much fertilizer is needed, where. so i think that drones and some

of the connectivity from a weather point of view, they bought a company from monsanto to focus on the weather and how weather patterns would effect farming productivity around the world. and so i think autonomous farming is going to demand drones, satellite information and so we think that it will be a big play >> i guess the other fact i'll throw in as well, investing more than 30% 6of assets in a single firm and i guess bringing it all together, the broad question i had is whether because of your fantastic inflows, it is a great problem to have, whether you grew a bit too fast for your investment universe, for your ilk of stock as i think you said earlier. and whether at any point the last six months or so you did because and consider thinking

maybe we should stop allowing more inflows and close the etfs rather than launching more, raising limits whether that was a question you at least asked yourself over this massive inflows >> well, it is not possible to close an etf unlike a mutual fund so is that -- >> it is not impossible though you can change the rules of the game somewhat. >> i do not think that it is possible i think the regulators would have a big problem with that the way that they have set the structure up especially because of the way etf flows are handled. really that is not within one firm like ours, there is a whole ecosystem around us. we went from 10 billion to 80 billion in 10, 11 months that was pretty parabolic. and of course we were very

grateful for those flows and we're still grateful for the flows we are getting but that is parabolic. we are used to exponential growth, that is what we do on. our strategies, our innovation platforms we believe will scale exponentially and therefore our capacity should scale exponentially. 10 to 80 billion was a little faster than that and so we've taken risk control measures so we don't own too much of one stock. and we've seen an explosion of ipos afterround innovation, spa are all about innovation so we are getting more and more opportunities to scale with these newer companies participating in the innovation space. >> i wanted to talk tesla. one of your favorite stocks. that is part of the performance issue, it is off 25% from the

highs. and there are some real questions right now about the reliance on autopilot and whether that has led to some deaths you have been super bullish on tesla's autonomous future and the vision of robo taxis isn't that problematic given some of the concerns around safety >> actually i think we've gotten some very important information recently that tesla is seeing its way through so to speak to autonomous and that is they have decided to take radar out of the ecosystem and just depend on vision, computer vision, cv. so eight cameras i think that they are getting much closer. and as far as autonomous, when anyone talks about safety in an autonomous vehicle, they have to consider the alternative the alternative is human driven travel

humans are responsible for 80% plus of all fatalities in automobiles. and so autonomous is going to really take that issue away from us so we think that we're much closer than most do. we think that we're probably not as close as tesla thinks it is but we do think within the next two years we'll see some really surprising breakthroughs from tesla. we've been watching waymo and cruise automation here and we think that they are probably struggling with how to scale that business. we think that tesla is going to go autonomous at scale, or much more quickly than any of its competitors. >> and then there is the china issue, they seem to be clashing with customers on social media,

the public and the government. what do you think is going on there and how much of a risk factor is that for the stock and the business >> we do think that china wants its locals to win. we saw i think just in this week neo because of the battery swap system it has, no matter what its pricing its cars at, it will get subsidies where the model y won't get subsidies in china but we found something out very interesting this week, if you look at the drop in share of tesla's cars in the electric vehicle space in china, what you will also see is an increase in the number of exports to europe. and in talking to the company, you know, we found it curious and it seems that the quality of cars being built in china in

that super modern factory, the quality is much higher than those being built in fremont and we know that the european customer used to german cars is very particular about quality and design and we think that texas will be a step up as well. so fremont is just a very old plant. so it was very interesting to learn that and so i think that tesla will manage the issue you've identified and that many are discussing by exporting to the rest of the world. and i think that china is going to like that china has not been a big exporter of autos to the developed world. this will be a feather in their cap. >> interesting theory. we have a lot more to talk about with you, a lot more names to get to, so please stay with us, if you would we'll take a quick commercial

break. we'll talk about some of her other favorites. sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today.

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we are back with cathie wood

thank you for taking the time. a lot of your favorite stocks are the classic stay-at-home plays. zoom video, peloton. and investors have soured on them lately. number one, it seems like it would be as good as it gets during the pandemic and a big pull forward in a lot of their revenue. and you look at some of the earnings reactions and you've seen some really sharp selloffs and questions about whether they are overvalued why are you sticking with them >> well, we led into them in this period. we had sold actually into the coronavirus because we saw these stocks soaring and many of our others completely misunderstood so we made what turned out to be very good moves in terms of of their relative appreciation one to the others. and we have been legging back into them because they have been cut in half, most of them.

and so what you are saying about stay-at-home and the disaffection with them in the market place seems to be getting priced in. we think that these are platform companies for the new world that are harnessing data and we're in a period now, many people think that we're going back to the old world, i don't think so. better, cheaper, faster, more productive, more creative is -- we're not going back to the old world. even thinking about digital work i know at our firm, we're de3de debating how our hybrid will work but i think zoom will become essential. it is part of the enterprise software technology stack. communications is the largest part of that stack and we think that zoom is going to take a bigger and bigger

chunk of that stack. one of the things that i was -- and from our own experience we know, zoom is at its best inter--company people say what about teams, microsoft, this is why slack had to sell out to salesforce, this is different microsoft cannot scale we don't believe the inter-company communications they are very good at intra and we use microsoft in-house, but inter-we think that will be zoom's market and we do think that it will take more and more of the traditional communication stack. pbxs for example >> what about apple? not a typical ark stock, but you have owned it and i noticed that you have been selling it

why? >> yes, what we do as a bull market extends as it did last year, we usually put into the portfolio since wheree cannot h any cash, we put into the portfolio i'll call them cash-like innovation stocks. the faang certainly meet that criteria, they are acting like defensives so days when utilities and staples do well, very often k34u7b i communication services are doing well so during a period of volatility, we'll sell those stocks and move into either a more pure play or earlier stage innovation companies that are being hurt by the riskoff. >> you grabbed some news recently by buying into twitter. talk us through the rationale. and are you buying more given that it has pulled back again trading down about 52 bucks?

>> yes, so nick ruse is our analyst on twitter and he has been experimenting with spaces which is their version of clubhouse. and he loves it and thinks that that could do well and we also think that tipping, they announced it today, that tipping might become a bigger deal for twitter than most people anticipate. it might be much more important to their mondetization strategy and we understand the power of twitter and we're pushing our research out through twitter, it is our most productive social network. it is helping the analysts become a part of the communities that they are researching. and i think a lot more knowledge workers will be forced into -- or lured into -- on to the platform for that reason

>> and away from your positions, i wanted to ask you about bill wong who has been in the news lately and bloomberg reported that he is a backer of your. and i was just wondering what that meant and how well you know him and whether you've shared investment ideas with him. >> i know bill wong. i met him actually through a church we were both advisers to what was called the financial services ministry, younger people going throughout financial services industry especially in new york city. so that was in 2013. and don our way back from that event, we were exchanging stock ideas back then. and i know that he bought into one of the stocks in which we had a high degree of confidence,

netflix. and he hasn'tdn't been involved u.s. stocks. he had mostly been involved in asian stocks so he was very interested and we chatted abit about media generally in the united states so, yes, he did provide the seed for our first four etfs. and we're very grateful to him it was at a time where market makers were sick of seeding new strategies because they would be stranded with $2 million stuck in an etf that doesn't go anywhere and so we needed to go out and find that seed and bill hearing what i was saying about the company that i was going to start, and i did share that with everyone at that retreat, was very intrigued with the stocks we were interested

in he was just beginning to learn about them i have not spoken to him -- i sent him a note after i heard about the unfortunate events that we've all witnessed and i'm wishing him well but he was there to us in the early days and we're very grateful to him >> do you know if he still had any capital in any of your etfs in recent months obviously there will be a lot of banks chasing any remnants of capital that is left >> to be honest, i have no idea. as you know with etfs respect we don't know who our shareholders are. the idea at the time was to seed i've never asked him if he kept the money in if he wanted to volunteer, he might have but, no, we've never had that conversation >> thank you so much for this extended conversation. it is a pleasure to catch up

>> thank you. and let's get into the market zone. these crucial last few minutes of the trading day mike, let's get to the broader markets. we're at session highs interesting split of performance for the week dow nearly 3%, nasdaq down 1.5%. >> and seems like a relaxation move in the markets today. maybe we were clenched up for a hot jobs number and this was an excuse with somewhat of a down side surprise and cooling off of any threat of the bond market. we just got a little bilgtt of a relief trade is the way i would see it and an excuse to do the rotation

thing again. >> what did you think of cathie wood everybody is always following her. she holds huge positions in a lot of these stocks and she likes the setup and that is why she's buying some of these flames that have been cut in half as a result of the overvaluation scare and what she called the broadening out of the bull market. >> obviously not surprised at the level of conviction in her approach and her strategies. i would have expected her to basically say this is the way it goes and she is playing for multiyear massive secular trends also this might have been the first time that she said that maybe the rush of assets as an accelerated higher was a challenge. and they couldn't necessarily deploy it as carefully but it makes sense although now it is in retrospect.

i don't know how it would be to manage money when she is the focal point and her stocks move as a group largely in part because of that. >> quick comment on today's market action as we approach the close. what is in focus for you >> one of the more interesting days in a while. all the talk this morning was about how yields were collapsing and they quickly rebounded because i think the payrolls number was much to do when nothing. payroll numbers are very noisy i think what folks need to keep in mind, the systems that are in place to measure these numbers are not designed z for times like this. it is very noisy,tmodel has been modified, there are seasonable adjustments. and i think the move in yields really kind of told you, number one, how people were positioned,

but number two, that it really didn't change the backdrop very much at all. there is inflation coming in my view >> peter, what about the softer jobs report, does that change anything about the yooutlook fo second half of the year? >> i don't think that it does. i'm not sure how much that we can make of that weak relative to expectations print. i think that it is subject to revision and i think when you look at cleaner numbers like the employment to population ratio, it scares a little bit with u-6 which actually improved from 10.7% to 10.4% so i don't think the recovery story has been derailed, but i think the bigger question is how much of that recovery has been priced in. >> all right let's look at the bell because we're about to hit it. the s&p is up 0.75%.

every sector positive. energy is leading. capping off another positive week and a record close here for the dow, up 240 points into the bell very strong week that is five days in a row for the dow. what is different today is nasdaq joined the party as well. technology on bounced back in a big way. and we are closing near the highs of the day, something we've seen in the last few sessions another bullish sign especially as we go into the weekend. tech joining the rally the russell 2,000 also >> and into the close, 10 of 11 sectors were higher. welcome to the "closing bell". " gis just off the high, dow 230 points higher. again fivedays in a row of

gains. 2% for the week. and nasdaq up 0.9% but down for the week. and sector performance shows that kind of performance as well energy is up a massive 9% this week while tech and consumer discretionary were in the red. coming up, we'll discuss the jobs report miss and infrastructure spending when we're joined by pete buttigieg mike, i'll come to you first. and the action that we've seen today and this week, which ultimately has been a move for cyclicals highlighted by that move in energy, but with a little bit of a bounce back in tech to end the week >> right essentially investors verdict on the jobs number today was a lot of noise in there, we can't necessarily extrapolate the slowdown as a trend.

two, it also doesn't alter the idea that the economy is in pretty strong recovery mode. corporate profits have been ridiculously good relative to forecasts. and estimates for the full year keep going up. and i think that it is more of an excuse for the market to stay on trend we've had the break the surface pullbacks, nasty corrections in growth that sustained things along the way. so to me the context is the cat catalyst, path of least resistance being higher, it has worked so far. >> and does a weaker jobs report and substantially weaker, we thought it was a typo, change anything for you on the economic forecast or the fed policy forecast >> not in a major way. i do think that it adds some questions about the june fomc meeting. i think most people were expecting that tell start talking about tapering then.

i think that that is still a possibility. this was a disappointment. i think there may be some measurement issues, but i think that there were some indications that this was a genuinely disappointing number and there was some evidence that it is consistent with the idea that there are some constraints on labor supply that may be pushing up wages in the near term. so that does change things a little bit, but i think overall the trajectory looks pretty solid. >> and one of the consequences of the data was a soft dollar. what is the consequences of that for risk assets? >> the consequences are for commodity based stocks and for industrials and any company that exports it is really a positive sign so i think that gives us another lift with the dollar declining

>> does it make you think about any stocks that you would normally pay attention to given the weakness of the dollar and the strength in commodities? >> the way our process works is we're always exposed to all 11 major economic sectors so we're already in energy and basic materials. if you look at copper though, an important name has been freeport, they i think is indicating that the global economy is on the mend even though there are some definite things we have to work through first. >> peter, what is your take on energy up so sharply, do you want to get exposure to cyclical names? >> yeah, certain names i would freeport is an interesting name to me for example. however, i've been talking about the inflation story and being long cyclical commodities for a

while. i think frankly the trade is in the late innings and if anything else, yes, commodity prices will continue to go up but we're going to get a sort of reflexive situation where prices will go up, how much can be pushed through and how much does that affect demand at the end of the day. inflation isn't always a good thing when companies can't pass it through to customers and when customer demand falls as a result of higher prices. and we're not just seeing it in copper, we're seeing it in lumber, in chicken, in semis they are leading to higher used car prices for that matter so this is how inflation can bleed through into a lot of different places in an economy even in the absence of the cola wage adjustment and something to be concerned about >> mike, this gets us into the fed debate whether it is transitory or not. when you look at a chart of lu lumber, that could be some

lasting inflation, couldn't it >> we already saw that housing prices, construction prices, are going up a lot, that doesn't necessarily feed into the cpi measure or the pce measure cameommodity prices haven't pasd through in a meaningful way. so i think what matters when we look at the next three, four months will be thinking about things like wage pressures and whether those will lead to sustainably ongoing price pressures even as we get into next year. so i think the fed is basically saying i go authorize a lot of the inflation numbers that you will see this year particularly as it relates to commodity prices but i think that we should think about where is the inflation outlook for next year and i think that that is what the fed has their focus on >> was that jamie dimon's dog or somebody else's? not sure

but mike santoli, for the other warning signs that we look out for, yes, we did see the vix jump earlier in the week, but it has ended pretty calm and i guess an encouraging sign for those who were on the lookout. >> yeah, it isn't really giving too much indication of stress out there. we did have these little moves higher these people are on guard and actually willing to sort of play potential down side in a hurry once it dissipates, markets are calm, we've been keeps things very orderly even as some of the more racy parts of the market have corrected hard. so it does make sense that we're do you know not to the will hes of the post-covid period, but pretty close to it >> and what do you make of the move in bonds? obviously today there was a lot of buying on the weaker headline jobs number that ultimately

ended up with 10 year yield higher but the fact that the yields have stayed so low despite the fact that we have good earnings, good economic data, better vaccination rates, what's with that >> i think the fact that real yields haven't moved much is a came number drum in a way. obviously we've seen einflation expectation move up. i think the fact that we haven't seen ten year rates move all that much may suggest that the market thinks that obviously there will be a lot of noise this summer in terms of both growth and inflation being volatile to the up side primarily. but that the longer term growth outlook is not changing all that much is i think the simplest way to enter pretty what we're seeing in yields and i think today probably gets back to the original question, does today really change the outlook for the recovery probably not that much which may be why rates on the day -- i'm

not a strategist or anything, but probably why the rates didn't change all that much. >> and peter, what is the single biggest threat to equities >> i agree with what mike said, but ten year yield was at 70 basis points around election time i think inflation is the boogeyman. and frankly i think the fed has been trying to get people to read between the lines we haven't mentioned the financial stability report but there is a reason why they did exuberance 2.0 in that report because they are trying to find ways of saying that we're concerned about financial stability, read between the lines, inflation and asset prices and other things. and that potentially poses a problem. >> 157 on the ten year after a record close for stocks. peter, diane, mike, thank you

all for joining us have a great weekend up next, tobias levkovich on the huge jobs report miss. we're carvana, the company who invented car vending machines and buying a car 100% online. now we've created a brand-new way for you to sell your car. whether it's a year old or a few years old. we wanna buy your car. so go to carvana and enter your license plate answer a few questions. and our techno wizardry calculates your car's value

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tobias and thanks for joining us. do you think today's data alters the outlook for fed action and with it reasonable multiples for equities >> so i don't think that it meant that much. i think that we'll see revisions and more powerful job growth in the next month or so and i do want to get something out of the way if i may. congrats on the engagement and sarah, happy mother's day. so -- >> thanks. >> the numbers are going to be really good. you are hearing about this something that i think a lot of people missed on monday was the senior loan officer sush survey data showed improvement and that is important because it tends to lead by nine mountains so months. so the outlook is going to be strong and that is even without stimulus dollars so i wouldn't be that caught up in the miss today.

for example, you don't know this yet, but we raised our target price and earnings estimates aftof a ter the close today. and we still don't think that the market is truly representative of some of the challenges particularly the margins your guests were talking about labor cost and i think that that will be a real issue >> what is your outlook in terms of sector preference feels like everything that had lagged has run up and i guess it is hard to pick where is cheap i guess. >> we still have a value bias because we think that there will be somewhat i would call stickier inflation we probably see inflationary data sticking around for more than a three, four month time period something that you think about when you say trance tasitory ane comps. again the labor issues will be a

little more previalentprevalent and in addition, i would say within there, clearly higher bond yields would benefit financials, some of those cyclicals. and if you really push me to say my favorite area, it will be the leisure and hospitality. i think the indulgence that people will get into once that it they can get out and take part in things that they had been deprived of, i think that you will see a lot of people wanting to go on vacation. and this is not a plug for her, but we're all cyndi lauper, we're all girls who want to have fun. >> good reference. you say that you are more optimistic and you are boosting your s&p target to 4,000, but where did we close today, almost 4300

>> i still think that we have pullback potential particularly valuable and more so sentiment again, a in your earlier interview talking about maybe there is a little bit too much risk being taken on. so in a way, i'd rather be in larger cap than smaller cap in this type of environment i don't wants a much risk in the portfolio. i still think that there is a potential for 10% pullback and then we can kind of move up again. one of those points where we've had this really, really strong run and it is anticipating a lot of the good news already and now if we get any slight disappointment, we could see these cost increments hurting companies before they can get new price increases in place so even if they announced them today, the next quarter or two, they may be shipping goods that were ordered earlier on with price protection and it might be a benign mbegin

issue, but it could call problems in the markets. companies that beat earnings for the most part, people that hit the number dropped 2 percentage points and people who missed were down 9%, 10%. so there is not a lot of tolerance for any kind of disappointment at these loftier levels >> tobias, thanks for joining us back to mike santoli for a look at recent popular investments like cryptocurrencies and high growth tech >> yeah, part of the game this year has been sort of chasing the animal spirits of retail and other aggressive investors trying to figure out where it might be going next. and this is basically the crypto index, against what is called the wells fargo growth at any price index, it is basically stocks that are highly valued and just basically about top line growth very much like the

ack type names and they were rising this tandem and then we had that february peak, that sort of category of stocks that were all about the next new thing whereas we have seen crypto of course continue higher there has been some talk that the excitement over some of the marginal coins away from bitcoin have drained away some of the interest we don't know 13e6k aspecificalt is the same people, but it is interesting when you see how the stock market has kind of come away from some of that real risk taking behavior and crypto very much still in the throes of it and up next, the ceo of home services company angie on how the housing boom is hitting the bottom line.

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angi reporting first quarter earnings today with revenue climbing 13% from last year. the stock has had quite a year amid the pandemic, up nearly 70%. in march the company announced a new ceo. and he is joining us now for a

first on cnbc interview. nice to see you. >> great to be here, thanks for having me. >> so that 13% revenue growth especially booming services growth up 66%, what is driving it, what are people buying at the moment >> we're really seeing this shift towards our services business consumer behavior has changed. where you think about the old way of doing things where you call a friend or you call a neighbor and ask for a referral, the consumers who booked cars on uber or bought food on instacart or doordash, they just want to press a button interests the ang t angi app and make a booking. and so we saw $55 million in revenue from our services business, and that is where we sell it directly to the consumer in q1, up 66% year on year.

and we did that without dropping a single dime on consumer marketing. so that business is growing 66% year on year at a $200 million run rate without us spending on consumer marketing and it speaks to the shift of people buying home services online and that is exciting for us. >> how correlated is your business to the housing market because we've seen a boom in demand for homes, first time buyers getting into the market, especially millennials, rising prices your stock has done well, but not quite as well as the housing stocks how tied are they? >> there is definitely some correlation here, but we saw during the pandemic very little housing activity and yet we saw so many people investing in the home that they were already in we're excited about the fnext 1 to 18 months we have millennials coming into the market, $1.8 trillion in excess savings on the sidelines. but the interesting thing about

what millennials are buying, because the housing market is so tight, they are not buying the new builds because there aren't enough of them so instead we're seeing more and more first time buyers buy fixer uppers and buy in the suburbs. and they need to invest quite a lot to get work down in their home >> is that theme playing out in europe as well i saw you had good growth there. >> yeah, our european story is a little different we are pulling together the technology stack that it is running on and we're excited about what whether happen in europe as europe reopens definitely a lag there in terms of the vaccine rollout so we're excited about what will happen there the next 12 months. >> what about the people that provide the services, the people that get hired, how are you finding that trend as the economy does reopen and more

people get hired disappointing jobs report today, but clearly more people are coming back to work. >> yeah, more people are coming back to work, more people are getting off the sidelines. as you said, the jobs report today a little disappointing there is still a shortage, clearly a shortage, of skilled labor in the construction sector and for people who are considering a shift in careers or people considering where to go, a skilled trades professional is an excellent career choice. and the more that we can do to educate folks on how great a career choice that is and the earning power that has, the easier it is for us to continue to grow capacity, help people take care of their homes, 130 million plus homes in the united states they all require maintenance and work and the more we can continue to grow capacity over the last year in our angi services business, last april our peak day was

about $300,000 in a single day of work done in april this year, peak day was over a million dollars of work done in a single day and so we're really helping our customers get more work done >> where do you see the most acute shortages? >> it is across the board. it is very pocket driven you look at geo category basis, you can think all right, we have a shortage of electricians in boston we have a shortage of plumbers in particular parts of oregon. and it really is category by category, geo by geo and it is about figuring out how to help those folks grow their business, help them bring on more apprentices and work up the financial ladder to make sure that they are building a successful business. and it comes back to how do we help people take care of the homes, how do we help the folks

who bought a home keep it at a point in terms of maintenance so when they go to sell it they get a lot of offers and preserve the value of their asset that is really important >> thank you so much for joining us >> thank you coming up, wealthy investors are already planning how to avoid paying for potential capital gains tax hike sure, about this? experience capability, crafted by lexus. we're good. the remarkable gx and lx. get 0.9% apr financing on the 2021 gx 460. experience amazing, at your lexus dealer. get 0.9% apr financing on the 2021 gx 460. experience amazing, at your lexus dealer. tailor made or one size fits all? made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one.

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sg . stocks closing at a record high today a much weaker than expected jobs report coming in at 266,000 jobs expectation was one million. but most sectors ending the day higher led by energy capping off a strong week. the s&p gaining 1.25% for the week and even though nasdaq was down for the week, it did participate in today's rally it closed up almost a percent. >> and time now for a cnbc news update >> here is what in the news. the justice department proposing new rules to crack down on so-called ghost guns with a requirement for serial numbers on some gun making kits. retailers would also need to run background checks. and police officer quiconvictedf murder in the shooting of a suicidal man

officer ben darvey they say had no reason to shoot parker. he faces 20 years to life in prison and deadly anti-government protests stretching into an eighth day across colombia they started over tax reforms which have since been repealed now the demonstrators are calling for the government to take action to address poverty, inequality and police violence two dozen deaths confirmed, nearly 90 people believed missing. tonight on the news, growing pressure to end the violence that and murder hornets. out of hire nation the news, 7:00 p.m and bill and melinda ghates are splitting up after a 27 year marriage and increasing number of people over 50 are getting a divorce.

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news of the gates divorce is making major headlines z turns out more than one in four people getting divorced are over the age of 50 and the financial implications can be severe sharon epperson is here with more >> you know bill and melinda gates aren't going to have to worry about money, but for the majority of middle age and older people, going through what is

known as the gray divorce can have a significant impact on their finances >> the financial complexities increase because typically there is more assets and often there is not many more years that they are working. so we have to be that much more conscious and savvy about splitting assets >> experts say review current and future living expenses, figure out what to do with the family home, make it a financial decision, not an emotional one and understand how state law will impact the way retirement accounts and other assets may be divided. also don't forget about social security >> if you get divorced, if you have been married for more than ten years, you may still be entitled to take social security benefits on your former spouse's earnings record if that would yield a greater benefit. >> updating your estate plan is very important too if you don't want to leave critical decisions and your

assets to your ex-spouse, change your durable power of attorney, health care proxy and beneficiaries on your life insurance, retirement and financial accounts to the person or the people that you do want back to you. >> good information. >> or give it another go to see if you can keep it going is the other angle. but sharon -- >> therapy is a great option as well you got to talk to somebody. >> exactly the other question i was going to ask, what is the impact on women who divorce after long marr marriages? >> this for anonymous none of gray divorce did be devastating for women. before the pandemic, about 16% of divorced women age 65 and older were living in poverty and it that is compared to about 14% of divorced men. so it is very important for women to make good decisions to set them up for financial securityfor the long term and doing that experts say involves

a team not just your attorney, but also a financial adviser who specializes in divorce and a medical health professional as well to get everyone on the same page and be able to do this civilly. >> sharon acepperson, thank you. up next, hear what cathie wood has to say about key names on her radar and we're bringing together top ceos and investors to good explore how innovative companies are addressing the coronavirus don't misleaders from pfizer, eli lilly, the cdc and more. you can register now at cnbc events.com/healthy returns just over a year ago, i was drowning in credit card debt.

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[ding] don't get mad. get e*trade and take charge of your finances today. flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. last hour we spoke with ar krc k ceo and here is what she had to say about her fund's performance. >> i love this setup you know, the last time i was on, i think i said that this rotation was good news because it meant the bull market was broadening out, it was strengthening. and the worst thing that could have happened to us is to have the market narrowly focus on

just our ilk of stock, the innovation space >> and we also asked about zoom, and whether she thinks that it has room to run from here. >> we're in a period now, many people think that we're going back to the old world. i don't think so better, cheaper, faster, more productive, more creative is going to -- we're not going back to the old world even thinking about digital work i know at our firm, we're debating exactly what our hybrid strategy is going to be and how it will work but i think zoom is going to become essential it is part of the enterprise software stack, technology stack. communications is the largest part of that stack and we think that zoom is going to take a bigger and bigger chunk of that stack. >> and if we let that first of the two clips play a bit longer, we would have got the line where she said nothing has changed but

the price as arresregards to the pullback and she's been absolutely right are for so many years and a lot of the companies might still have the same outlook and bright future that they seem to have in recent years and they might continue for the next decade but i guess it doesn't remove the possibility that the price was overpriced a few months ago and now coming back to reality even if she is essentially allege al shrewding that the companies will be afternoon for a long time >> yeah, on the way up, the market became almost to the exclusion of everything else focused on the exact type of stocks and stories that are in her portfolio and she in fact has found relatively early zoom is down from 200 times forward earnings to 75 times forward earnings i don't think anybody is saying that zoom is going away, but the question is what is it it worthw

and was it vastly overvalued and so that means that 75 times is still expensive. those are the decisions that you have to make, not so much all or nothing, either we go back or these companies will beat the world again. >> and she has a few of those stay-at-home winners teladoc, peloton jim cramer tweeting out when cathie wood said she liked the setup, it reminds him of a coach who is down three touchdowns at the half and says now we have them where we want them. so it is a positive spin no doubt on the situation for her funds and for her stocks but her point about the broadening out, i guess it is valid because on the days where per stocks and her funds were getting hit the hardest, the dow was hitting record highs the question is does that eventually translate over into the high growth and momentum

names that she likes as well >> exactly so you've had a few months where you have had cyclical and value stocks really rising and driving the market higher. and you have basically the secular growth stories that are taking a back seat the big question is, what is to say that very soon it will revert back to those ark style stocks we don't know. it is pure truth in advertising, it is very transparent what she owns so not as if there is any sleight of hand. that is the big belt that the firm has made, the question is it going to the money again. >> and another way of putting all of this, things could pull back another 20% or 30% and the funds would still be up sharply. so a great problem that she's got of i guess all these inflows and where to put the money >> how about that revolution about bill wong seeding ark

invest and her long standing relationship that they met at church i'm not sure that anyone knew that i think what we knew is that he was a backer of some sort but that was a little bit vague. she was very forthcoming about that relationship but also said we haven't talked since the unfortunate events >> totally agree i think a lot of people picking up on that, it was news to all of us and fascinating to hear as you said her candor as he is a controversial figure i guess people will ask if there is anything more to it than just initial seeding of funds >> agree >> other people like banks will have some kind of claim to the money, which she doesn't know the answer to. but i think that people will be digging into that more from here >> no doubt that they would. i would say that via kcom and c

would not be the sorts of stocks that you would find in her portfolio. >> anyway, we are out of time on that chat. if you want to watch that full interview, you can on cnbc.com still to come, techs wild week wot rft d k down the besan rspeormers elp with that. 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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capital gains tax proposal isn't reality yet, but that is not stopping accountants from advising clients thousand avoid the tax hikes. robert frank has the details for us >> the biden tax hike easier to avoid will be the capital gains tax increased to 43.4% with those of income over a million a year since taxpayers can decide when to take capital gains, they are advising to manage the income just below that $1 million mark whenever possible. they can stagger stocks over several years and offset them when possible with losses. or if they are selling a business or asset, they can make

the sale in installments so the patie payments are staggered over several years. about 60% of tax a payers in 2018 were just afternoon that ceiling of between $1 million and $1.5 million and high earners could avoid earners could avoid up to $90 billion over next ten years by delaying or managing those capital gain sales you know the avoidance or tax planning industry is in full swing right now. we'll see what happens at the capitol. >> quick question, this law isn't expected to be back dated when it passs? what stops people from hurrying up to sell things before it becomes law. >> that's the $600 billion question, the administration has hinted that they could and may make it red row active to january 1, 2021.

if it starts next year you're right they will just sell, if it's retroactive it doesn't matter what they do. >> robert thank you. up next disney earnings on deck next week and investors will closely be eyeing key streaming subscribing numbers, and other big things on our radar when "closing bell" comes right back. our clients come to us with complicated situations that occur in their lives. for them it's the biggest milestone, the biggest accomplishment, the sale of a business, or an important event for their family. for them, it's the first and only time.

we have seen this literally thousands of times, in thousands of iterations. ♪ ♪ i am vince lumia, head of field management at morgan stanley. whether that's retirement, paying for their children's college education, or their son or daughter getting married, our financial advisors need to make sure that they are making objective decisions, every step along the way. every time you hit a milestone, an anniversary, a life event, the emotions will run high. making sure that you have somebody, a team of individuals that have seen it before, have seen every circumstance and seen every challenge, and have your back when you need it most, is one of the most valuable things a financial advisor could provide to a family. i am vince lumia and we are morgan stanley.

tech stocks taking on quite a roller coaster ride, josh now with the biggest movers, josh? >> so sarah, mega cap tech stocks came under pressure this week, amazon faired the worst of the bunch, down about 5%, that's its worst week since november, it's fifth day of losses in just the last six sessions. still pull back the chart, that stock is up about 40% over the past 12 months and over at truea says this is still a buy, that's what he's saying, a burgeoning ad business on a $22 billion annual run rate

and of course a market-leading cloud business with aws. cloud stocks also coming back down-to-earth. clou, the etf that tracts the sector falling 7% this week, its worst week since february, and down 14% over the past three months and of course really under performing the tech sector and broad market so where though could there be opportunity? over at rbc tell they likes twilio, dock u sign and zoom, which will be critical as people return to the office back to you all. >> josh l thank you very much. mic, the nasdaq lower for the week but good day today and there's questions if we keep getting disappointing data like we had will tech come back in favor as yields stay low

>> might require a rethink in pace in overall growth to be the leader again a lot of people will have eyes on not just amazon down 5% this week and haven't been able to get out of its own way despite those great numbers, even semi's down five to six percent from their highs. to me it seems like they're just not right now particularly special on a fundamental basis because the overall s&p 500 is on pace to expand earnings this year more than 30%. so tech is a little bit more expensive than the market in aggregate without as much growth as the overall market and the key theme drawing everyone's attention is just the acceleration, underlying economy, and kind of the return to normal. i do think that's much more about fun flows within the market than a judgment on the quality of the tech businesses. >> but mike, i guess amazon is the one that stands out but it's not just amazon amongst the mega cap tech stocks all of which had

outstanding numbers and haven't performed since. >> they have and it's a very good example of the market not be bying to extend out the growth trend lines on earnings, what we saw in the second quarter, there's definitely -- you know, people are on the alert for the idea of peak earnings growth, peak economic growth, the idea of it is good as it gets and that's penalizing the stocks i would have thought they were over owned and crowded back in august and september but they're acting as if people own enough of them for now. >> now to our wall street look ahead, it's going to be another big week for earnings. monday we will hear from marriott, ro block and real rail lemonade and palantir on tap for tuesday. on wednesday wh we'll here from bumble and posh mark and disney, air bn,ed i'm

look at coinbase, on the 15 same day, lemonade as well. some spectacular ipo that have come off highs which will monitor the closest. >> in the case of coinbase, direct listing, it traded straight down from the moment it hit the market. >> yeah. >> i think that one will be interesting just to see the numbers, they're problem li going to be incredible they told you the run rate was unbelievable in terms of transactions and fees, everything else, maybe see the reaction of that because it's one of those deals when the maximum moment of optimism when it became public, everyone weary of the business model but bad it you might see, plus insiders clearly selling a bunch of stocks and lemonade and palantir old favorites knocked way off their highs, we'll see if they rekindle anything. >> one of the factors of the

weekending today, the week as well, a soft dollar and blow out week to the upside for almost all commodities. >> definitely a that job's number today, it descended back towards the january lows now we're not quite at the lows of january 5th but that low itself in the dollar index was a multi-year low, it was in a down trend before that. and what was january 5th, the day of the special election, right around there, in georgia, that gave democratic majority in the senate and all of a sudden people said we got to price in fiscal-driven growth and that's been the story this year, the question is are we rethinking that because relative growth might look better outside of the u.s. as you see vaccination hit europe, an interesting push-pull. >> we have interview with pete buttigieg his cap -- cabinet meeting with president biden is still going on so that didn't

materialize we'll have it here on monday so apologies. >> it's a pretty good excuse. >> it is, i hope our viewers accept it and they commit to monday, have a lovely weekend. >> happy mother's day. >> happy mother's day sarah. >> thank you. >> and to melissa who takes over right now. >> thanks, guys, i'm melissa lee and this is "fast money" tonight's trader lineup tim seymour, james mcdonald, nadine and steve grasso tonight's on fast carter is sounding the alarm on bonds, he says it's time to move to the sideline and plus tilray blazes higher and tim seymour says this is just catching fire. later, the new kids on the block, ipo's next week, find out which names have the right stuff. we start with vehicle jobs report, total bo