month ago is the real risk of the economy is a significant attack >> steve >> corvo on sale here. >> bought a bit more of that too. another high crossing 35,000 for the very first time. nasdaq not so good today yet again. the exchange is now. nangs very much. here is what's ahead on the exchange the employment problem is the labor supply shortage here to stay if it is, it could have a big impact on the fed's next move. the st streak too bullish about facebook's growth.

scott mentioned the dow record high we'll paut star up there. the last trade there and the nasdaq composite continuing the trend in 2021. the severe under performer while the dow is up. we'll see if that dynamic plays out in the afternoon trade also keeping a close eye on what's happening with certain key part of the market that many investors are focused on specifically communication services and technology. those two sectors two of the severe under performers today. the s&p 500 over the last one week period is up roughly 1% the comm services and technology down about quarter of one percent and about one and a half percent for technology overall another record high for copper

prices still, take a look at copper prices now up over the last week 4% a new record high there. freeport mac brand you can see the orange line and the green line moving to the upside watch copper prices. that material story is playing out with many traders and investors today. let's stick with kmcommodities. breaking news on the colonial pipeline attack. the company giving new guidance for when it expects to be up and running fully again. bryan has been following that story for us >> the story has changed in the last hour or so. as an hour ago we had no indication of while the pipeline might restart. now we do although it's still a little like the story itself a little bit murky we got a press release 20, 30 minutes ago saying they hope to

substantiallierer store operation service by the end of the week a lot of questions there what does substantially mean does it mean the entire pipeline, a little less than the pipeline is the end of the week saturday night or the end of the workweek on friday? either way, today is monday. if that holds true, there's no quick fix. it will take some time in fact, this is the first time ever that the entire pipeline has been shut down there's been parts, large parts shut down first time you heard white house officials say the entire thing was shut off. now, in that press conference, the government saying they are looking at supplies. they want to make sure there's enough inventory and supply of gasoline, jet fuel, et cetera. 45 45% of all fuel conception in the east and southeast comes from the colonial pipeline

the white house say they are looking at other options not a lot of other options you should ship it in from europe and suspend it up from hou houston. that takes long time you have to fill ships and get it here as well. they're asking for any ideas for supplies and also by the way asking utilities and colonial pipeline to share any details about this attack and of course the white house saying minutes ago that private companies can decide whether or not they want to pay ransom. the government will not, as you heard me say rgs they don't want you to but they will not tell you what to do and it's up to private companies to provide their own security theoretically, the colonial pipeline which has been down since friday night arguably the most important energy artifact and artery in the united states.

it will be back online in some form by the end of the week. what that looks like, the market will monitor pipeline stocks are up most everybody we talk to says this is, sadly, bullish because traders might have to go to the open market and buy refined product or crude oil >> let's kind of explore that angle there. we have been talking a lot this morning about some of the ripple effects of this move the colonial pipeline is a privately held organization. it's owned by a number of different privately held companies including maybe some shares owned by maybe public oil companies or their affiliates, that sort of thing you can buy stock in other parts of the pipeline infrastructure trade right now. take us through the mechanics of why you are seeing midstream pipeline operators, otherser lid

partnerships trade up. >> all right economics 101. number one, the price of the actual fuels, forget about the colonial pipeline shut down. the last couple of mons the price of oil and gasoline has gone up. colonial pipeline has opinion shut down in parts for a couple of days. they can make more money in their new contract negotiations. the real money is this if you've got something that has a value and there's a fixed am amount, the value of the asset tends to go up the colonial pipeline have their

ransomware issue there's other pipeline stories going on now the dakota access pipeline may be the most important or second most important pipeline in america after the colonial a judge could rule any day now that it has to be shut down for a new environmental review on wednesday is the deadline that the governor of michigan gave six months ago for em bridge to fix or suspend a part of what they call line five. major pipeline that goes from wisconsin through the macanaw island straits we could have the da kota acces pipeline shut off. colonial not back online try to build a flu pipeline right now. i guarantee ask the ordinary reason and prudence of the keystone xl, it's not easy

if you got one, it's going to have more value. that was a two minute answer that should have been 20 seconds, but i'm tired >> it's a complex issue for sure a lot of variables i know you'll be all over the story in the coming hours and days thank you very much. that's one piece pfr one of the biggest ones is labor especially in light of what happened with the jobs report on friday. take a look. the folks at goldman sachs, the analyst take a look at the sectors in the s&p 500 to see which ones have the highest labor cost and which ones have the lowest relative ones 13 is about the percentage of

the s&p on average if you look at those sectors, energy, 5% most of theirs is tied up in capital expenditures real estate at 6% and staples at 8% as well if you look overall, the low labor cost type stocks, the one with fewer labor have over the last year or so here according to a basket of stocks that have low labor costs compared to high labor cost ones. just to give you an idea of the companies they track, when it comes to high labor costs, they look at certain names overall like say, technology ones. also industrial names and transportation ones. u. u.p.s. high labor intensive costs meanwhile you look at lower relative cost to the rest of the overall market we're talking about names like apple lower cost labor has out

performed the higher cost labor. for more on how these trends are impacting employment across the country, steve is looking at whether this labor supply shortage is signaling a new normal for the overall economy and kate rogers is tracking the restaurants as they hunt for workers to fill all those open positions we hear about. steve, let's start with you. >> the biggest one month increase and schools teach ng the traditional way since

october. between reopenings and women coming back the work force that broke in april supply chain issues and school openings may still be playing a role in limiting labor supply. >> we lost 64,000 women in employment numbers in april. that sounds like child care is still an issue schools are not open five days a week, regular hours. even if they are open, but they are irregular hours, that means there are child care issues. >> some care gooif givers may decide not to return until the fall what he calls a quote, long hot sum mer for the fed. >> that inflation for sure, a hot issue for many economists

out there. thank you very much. as restaurants look to recover, they are on the hunt for workers using everything they can kate rogers has that story >> you said it every company i speak to large and small is looking for workers and the competition is really on in fact, chipotle announcing its increasing restaurant pay to 15 there are an average wage by the end of june. starting hourly crew wages will range from 11 to $18 those answer to the highest general manager position can make $100,000 a year the company is offering referral bonuses right now. the talent crunch is impacting businesses across the country. la familia is feeling the pressure they need to hire 300 more workers forlocations >> we're having to do referral

bonuses, sign on bonuses and wages are going up tremendously as well. >> now that shortage is also trickling down to the supply chain at places like papa johns and wing stop according to its ceos the issue is being filt at businesses nationwide. 44% of small businesses have jobs they cannot fill right now. that's a record high if r the third straight month economists say as you heard in steve's report, more to this than enhanced benefits there's thing around child care issue, health concerns and much more one more hurdle for an industry that's struggling to rebound from its most difficult year in decades. >> we kaeep hearing ceos saying this is the toughest environment they have seen for labor the next guest is a third generation restaurant owner who says he's definitely feeling the hiring pinch as he reopens

he's the owner of junior's restaurant in new york city. famous for the cheesecake. my waistline cannot handle it anymore. you're making great cheesecake can you sell them given the fact there's a labor shortage >> we can. we are seeing signs. we're looking to restaff four restaurants. we went from 815 employees down to 150 during the pandemic we're now back up to 350 but we're now starting to hit a bit of a wall and seeing the people, there's three things at play in the rehiring, i think. one, some of our restaurant s have been closed for 14 months we just reopened one last week a lot of people have pivoted one of my manage who are i had a good relationship called me during the pandemic. she said i got this great offer at this supermarket chain. now she doesn't have to work nights i think that's figuring into it. people have pivoted their

careers. it's kept some people on the sidelines during this recovery >> that flies in face of what the biden administration is currently saying right now they feel as though enhanced unemployment is not the reason why you're seeing a labor shortage right now it could be other things like uncertainty about child care, uncertainty about health in the future, that sort of thing how exactly does a business owner, small, medium or large, remedy that situation to get people back into their places to work if the economy is to ramp up the way we want to post-pandemic. sflp t >> there's a couple of things. we'll have to do more with less. just be more efficient number two, i think as you see the reopening affect happening, you get towards the fall i think this is going to loosen up greatly we're going be more inclined to be at 100% of our business and

please, ma'am be realizing those benefits will be sunsetting and it's time to get back to work. >> if you don't mind, if i follow up on this, if you feel as though things normalize by the fall and things get back to normal and people will want to come back to work again, you made a reference to the fact you are -- you're running more efficiently, leaner these days because you've had too do you forsee as a restaurant owner that you will stick with some of those types of efficiencies going forward in other words, will you be hiring fewer people because of labor advances >> when they are going full tilt, it's hard to imagine doing more with less in that environment. right now in this environment, we're doing more with less

i think it's a pretty good open. as these numbers grow, it's going it remains to be seen how much efficiency we get in what i call really labor intensive business sd >> we wish you good luck with your recovery. thank you very much. >> thank you you need to come eat some cheesecake >> i'll sigh if i can exercise enough fist. coming up, is the rotation to value stock still alive and well one of our next guest says yes and she has three stocks poised to benefit that's coming up ahead meal kit meets technology. one company betting big on the at home trends as the economy starts to reopen the ceo of that company joins us straight ahead

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or visit and xfinity store to learn how our switch squad makes it easy to switch and save hundreds. welcome back we have breaking news out of washington, d.c. >> the treasury department is announcing that $350 billion in aid to state and local governments will start going out in matter of days. that was part of the covid relief package that passed back in march and generated some

controversy since then because states cannot use the money to directly or indirectly finance tax cuts several republican states have sued over this provision today treasury officials said these types of rules are not new and use the money the way congress intended like covid related cost or premium pay for essential workers. also important note, the money cannot be to sure up pension funds or service debt. local governments will receive half of their federal money this month and the other half a year from now states where the jobless rate is two percentage points higher than pre-pandemic will get all of their money within one lump sum. white house advisers believe state and local budget cuts held back the great recovery. they said this is responding for the lessons of the past in a powerful way back over to you

thank you very much. coming up, could 2021 become th year of the shareholder revolt ibm, general electric and at&t had their ceo pay plans rejected we look at the trends that could be flexion one analyst says swaus too bullish on facebook and google slice of the online advertising market we look at why and whether he's ght. we'll be back in two minutes i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. that building you're trying to sell, - you should ten-x it. cvs- ten-x it? to bring you ten-x is the world's largest online commercial real estate exchange. you can close with more certainty.

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markets right now have moderated their gains and losses the dow is up. nasdaq is off 1.5% we're also w567ing shares of duke energy jumping higher as you can see here the dow jones is reporting is pushing to add board members and activist investor getting involved in those shares up about 4% right now. electric vehicle, ev, and alternative energy stocks are getting slammed today. workhorse seeing the biggest losses by 14% followed by fisker and plug power very much a red day. ship stocks also starting the week lower as well every constituent semiconductor eart etf is down 1% today

corvo is down 6% also up with of the biggest losses in the s&p 500. some of the recent tech ipos including snow flake, palantir now let's send it over to rahel who has a cnbc news update good afternoon >> hello, every one. the white house says it has concerns about the situation in israel's hamas launches missiles from gaza setting off air raid sirens and injuries one person outside the city there's also a report of nine deaths after an explosion in gaza it's unclear if that's the missile gone astray. attorneys general from 44 states are pushing facebook to drop plans for a version of instagram for children under 13. they are concerned about mental health problems associated with social media and bullying. facebook says it will give parents more control to texas where a tiger was apparently on the loose in a

residential neighborhood police only saying it's an ongoing investigation. onlookers took photographs a man said to have come out of a house nearby taking the tiger inside before later loading it onto a truck and driving away all before police rooarrived. i believe that's the second tiger sighting in the last year. >> i'm in the sure how i would react to seeing a tiger in my front yard outside >> here is hoping you'd every have to. no advantage for facebook and google all that and more coming up in today's rapid fire as we head out to break, a reminder that may is asian american and pacific islander heritage month

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welcome back let's camp you up on a few stories that should be on your radar. it's time for rapid fire here to break down the headlines are leslie, robert and molly wood thank you for being here first stop, citi is taking the kings of digital advertising down a peg take a look at this particular story because the firm is downgrading facebook and google to neutral despite robust internet ad growth over the past two quarters shares of facebook and alphabet

are down citi saying it is not recommending any large gap ad stocks except roku i thought it could only go up. >> i'm going to say i thought it would only go up i think it's a bit more scrutiny very often we have seen it's a little bit inflated on facebook. maybe advertisers are not actually getting magically measurable results from every ad they were promised and they might be looking back to television facebook and google aren't going

to be allowed to get bigger. >> there's a lot of different ways to look at this i wonder though if in the pandemic era that we have kind of gone through and are still going through a bit right now, if some of those things have stuck because i know my screen time has shot through the roof over the course of the last year if there was anybody who would be more receptive to digital advertising, it could be somebody like me who spent a lot more time in front o of their ipad over the course of the year what do you think? >> i think you bring up two good points is there going be a reversion to it people like yourself, like myself have been glued to our screens for the last year and now maybe want to do things that aren't screen intensive or are some of these habits going to be stickier they say the one large cap internet advertising company that they do still recommend is actually roku because they

believe the streaming penetration has not yet reached full throttle. i think that's a big question and it's one where we're not quite getting a clear concise answer from the street right now. >> robert, have you bought anything i saw a social media ad for something to buff out scratches. what did di do i bought it. are you buying stuff from your social media feeds >> i thought you was going to say i bought a new car and that could would have been more cool what was interesting about that, it did not mention regulation and their dominance and what it talked about with the difficult second quarter comps that are coming up. that's true for all stay at home companies and tech companies

now the number of small to medium size companies that have starpt started since the pan demonstrate ib -- pandemic that i think will demonstrate a lot of new demand. a lot of people have these new habits that are not going to go away >> all right we'll see what happens i'm trying to spend more time outside and less time in front of my ipad next up, we have shareholder support in 2021 for u.s. executive bonuses at its lowest level since 2011 that's according to new data so far six s&p 500 companies including ge, at&t, ibm and starbucks have failed to win support for executive pay packages this year support has dropped from 88% from a high of 92% from executive comp back in 2015.

leslie, are the days of just green lighting a ceos pay package gone >> at least in the short run we're seeing a rate of 3.5% rejection. it's been closer to 1.6% more than double the rejection rate that we're seeing thus far in this proxy season in 2020, they really did give them a pass. we'll let you handle the pandemic but in the meantime we're going to be very vocal on the record by saying we want there to be meaningful change on the esg side of things environmental social governance. there's this expectation now in

2021 for asset managers to be a little bit more aggressive on that front, to scrutinize these pay packages as opposed to saying blanket yes we're going to approve all these things. now they have to put their voting where their mouth has been in 2020 >> there's been a will the of popular backlash with pay packages that were hardest hit during the pandemic and saw ceo pay packages, not because of salary or they were granted options or stook youunits that v gone up tremendously in value. how much do you think there is in terms of backlash facing the ceos knowing their pay is so much more than that average employee at their companies. >> i'm all for pay for performance these jobs are

demanding. you look at union pacific, they just wiped out the second quart whe er when it came to meeting the performance quarter. i think there should be a powell factor or fed factor that it went up beyond the ceos control so we should take that out of their compensation and really make it pay for performance. >> let's talk about the movies amc will release chance the rapper's concert film in theaters this summer the film is titled magnificent coloring world partnerships could mark a way for theaters to reach a younger

audience shares of amc are higher today the stock is up over 400% from its 52-week low we saw not long after the pandemic molly, this is chance the rapper he's got a reputation. he's kind of like on his own his does his own thing he's gotten a lot of notoriety how much of this pandemic has now tilt ed audiences towards alternative ways of distributing content? >> i think we'll have to see what audience dos. i applaud amc for thinking abou ways to get content. they're going to have to take the seats out and turn sbiet a chance dance party you can't expect gen z to show up with the same old snacks.

it will need to be more innovation to turn this into a new model. good for them to capitalize on their lottery winnings and taking chance for something different. a two and a half hour for a sequel to a sequel to a sequel isn't going to get my kid into theaters forever >> robert, during the course of your reporting at some point in the future, will you find out for me if chance the rapper is getting compensated in amc stock. i keep thinking this is way to capitalize on maybe one of those types of trends. >> he's going to get paid in dogecoin we know that >> it's not going be ethereum or anything like that all right. moving onto our last topic here.

the ether blasted past $4,000 for a new record high which is music to ether holders ears including tampa bay tight end rob gronkowski robert, i'm going to look at you because nfts nonfunctionable tokens wharks do we make of this move divergence in the force, aka crypto currencies. >> i always think of that story that you tell and i don't know what the latest price is but remember that pizza that sold in 2010 >> 10,000 bitcoins >> now it's a 500 million dollar pizza. whatever bitcoin is trading now. i think about that and it's one

of two reasons why currencies, these cryptocurrencies don't make for good currencies number one is the tax treatment. you have to pay the capital gains tax on any gain you had on that crypto when you buy it so when you use crypto to buy something, you pay capital gain and you're giving up that upside g gronk sold it for 1.837 it's now worth 3 million. didn't cost him anything to make those nfts of course he's holding i think this is also declining dominance of bitcoin this is all about the dogecoin, ethereum and ethereum classic. it's fading a bit in terms of growth >> leslie have you paid for

anything in? >> i have not paid for anything with cryptocurrency. i've tried to stay neutral in our attempt to cover it so not to have any kind of bias toward one crypto currency versus another. yeah, i'm just watching from the sidelines in awe wishing that change the price of something. >> kwhast your alt coin that intrigue you the most? >> i can't believe having better instincts that elon musk here.

it could take power away from banks. instead of being like a joke crypto currency that's been built up, something that is so far out of the realm of usability because of the things you mentioned because of taxes and trying to figure out,000 pay for things. >> thank you very much we appreciate it rjts still ahead, from copper be semis to online shopping one fund manager is seeing buying opportunities as the dow hit a record high. she joins us nt thhoexwi tse names, coming up

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it's now on track for a six straight day of gains. the s&p 500 is also near an all time high but the nasdaq is taking a hit down more than 1% so far our next guest says this all means the rotation of value stocks is alive and well she's got three names to play the trend. joining me now is vanessa martinez let's talk about value it's hard to think you can find value in this kind of market where are you finding it >> i think value is all perception but value when it comes to yield we can definitely find some in commodity names. one specific name that we find quite attractive is vale this is where we kind of stick between the passive and active investing. if you look at vale, you can see the growth it hit at some point $23 which is great

this is definitely a buy for us. it happened to be 20% of it yet it's up about 20% on the year. it's up 36% year to date. >> that's iron ore the are there places within technology that you think are valuable with the value trade? >> we do we believe intel is a spot that gives you value as well as future growth. it has decided to invest in its company. it's also projected out to do multiple billions between its other u.s. locations as well as internationally. we believe a company that has

that confidence in future growth is a company to buy. specifically with chip shortage. it has an advantage and now we have chips in absolutely everything we own which i never thought i have chips in my stove, but i guess we have them everywhere now >> so that's a curious point there. i'm also cure use within technology there are also places that have run really high, really fast but that some people still consider to be a value are therefully that fits the bill in your book? >> yes there is one that i hold near and dear for the past couple of years i've been very bullish on shopify. this seems like an expensive stock. we tend to not call it a value stock but i do because i believe it has room for growth i compare it to like a mini amazon what i really value about

shopify is how much dedication it provides to its small business owners. it now has this new sector within itself called shopify capital. it gives these small businesses between 200 to $1 million in like merchant merchan capital. that is a wonderful thing to provide your clients. >> all right vanessa martinez, the call intel, vala and shopify. thank you. have a nice day, ma'am. too busy to cook we'll talk to the founder of tovala it's caught the attention of major brands that's coming up next. logy fir f, (♪ ♪) a science first, (♪ ♪)

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tovala i see a toaster oven behind you. is that what you're using to cook the food? >> it is great to be here. that's part of the challenge tovala is the secret weapon because it combines the smart oven behind me with the chef prepared meals we send you the meals. mostly raw ingredients to cook you scan a qr code. >> i'm a hungry guy as you can tell my figure i think that's not enough food to feed me. >> so the meals are mostly clean ingredients. they range in calories, the super low end is 400 calories up to 800 calls and they've got wholesome, full protein. chicken breast, salmon, truth, steak. they are quite filling and you can cater it to whatever diet

yourself. >> we are watching the video right now of the product and being made and looking at the size of the boxes and the oven behind you why what if i have a family of four does it all fit in that toaster oven >> meals are generally dine issed for one to two people. we have families that order from tovala but generally people that eat at different times we have a 15-month-old at home and eats dinner at 6:00 and then we eat at 7:00 eat dinner together and every meals cooks in 20 midnutes or less. >> can you take us through the economics of this? how much does each portion cost? what is the subscription bundle if you will? how does it come weekly, biweekly how does that work >> you purchase the oven as low as $199 if you order 6 times in

6 months there's 15, 16, sometimes 18 meals a week on the menu and the menu changes you can order up to 12 and it is a subscription but very easy to skip, pause or cancel and what makes us special is people stick with the service in a way they don't with others and it is on the counter top, people order and use it to toast bread, cook things from the app. it is over 30 uses per month on average. >> i wond ore if you give us insight into the hottest demand for the product. is there a certain demographic >> the interesting thing is it's a wide breadth of cust mothers

the reality is that we target busy couples in the 30s and 40s and empty nesters. it's a wide range and what's driven the tremendous growth. >> tovala, smart koovens ian prepackaged food. coming up on pr"power lunch" discussing the next possible targets with david kennedy of trusted sect and a hacker himself. "power lunch" starts after this quick break.

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hello and welcome to "power lunch. i'm dominic chu. seema mody will join us. an oil pipeline hacked a sophisticated russian hacker gang blamed why who they are, why they did it and what other companies can learn from this saga. the dow busting out to a new record today dow 35,000 for the first time ever but the nasdaq lagging as a theme in 2021. we are starting to