nervive contains b complex vitamins that nourish nerves, build nerve insulation and enhance nerve communication. and, alpha-lipoic acid, which relieves occasional nerve aches, weakness and discomfort. live your life with less nerve discomfort with nervive nerve relief. new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. everyone, let's go for a little ride. ♪ hallelujah hallelujah ♪ ♪ hallelujah ♪ ♪ hallelujah ♪ ♪ hallelujah hallelujah ♪ ♪ hallelujah ♪ ♪ hallelujah ♪ ♪ hallelujah ♪ good afternoon, everybody, welcome to "power lunch.

a new threat to cryptocurrencyies, it's the law, the fbi recovers half the ransom paid to the colon quality pipeline hackers, and if beto coin isn't all that untraceable, does it lose a part of its usefulness cryptos crushed today. >> the s&p 500 getting within points of its all-time high. a number of things are just right for the markets. >> and oil hanging around $70 a barrel, many traders betting we may soon see 100 we've got those stories and much more coming up on "power lunch," starting now ♪ markets are pretty flat right now, but take a look at the s&p 500. this morning it got within two points of a report hide. we're around 4226. and take a look at wendy's and clover health. wendy's is up 19%, clover up

72%, they're climbing in the reddit rankings. bitcoin down 10% today, about half of the peak we hit in april, ty? >> thank you very much, kelly. the big downturn in crypto is coming as the fbi recovers most of the bitcoin ransom paid a couple weeks ago, and maybe bitcoin's dirty little secret has always been it has some people who engage in illegal activity, but it isn't as untraceable maybe as many people thought. is that a threat to its value? kate rooney is looking at that side of the story, but let's begin with eamon javers with the latest on the ransom recovery. >> we heard just today directly from colon kwan pipeline's ceo

he testified before congress saying his company reached out to law enforcement within hours of the attack and the decision to pay the ransom was the toughest decision of his career, but necessary for the good of the country. >> we already started to see pandemonium going on in the markets, people doing unsafe things like filling garbage bags full of gasoline oar people fist fighting in line at the fuel pump the concern would be what would happen if it had stretched on beyond that amount of time >> reporter: yesterday, we learned a portion of the ransom has already been recovered by law enforcement. this coming in from the department of justice, yesterday, that these seized d 63.7 bit coins ransom payment,

and tracked the bitcoin transfers. the fbi we now learned has the so-called private key to an address where those proceeds were transferred now, how exactly the fbi acquired that private key is not known publicly, and the fbi declined to give specifics on a briefings call with reporters about all of that, so some real questions here about how law enforcement pulled it off, guys. >> thank you, eamon. bitcoin is reacting negatively kate rooney has the latest. >> bitcoin's slide started around those headlines, right when those crossed from the fbi. let's look at the various days it's been trading around $32,000, and it's dragging down a lot of the other major cryptocurrencyies, ether, dog dogecoin, liticone, all down about 10%. even if this was for a ransom,

it sparked some fear as far as we know they had nothing to do with bitcoin's actual network sometimes this is a good thing for bitcoin, its use for ransomware -- it might look less appealing for the nefarious use case, and in recent weeks, that fear of more regulation around taxes, and bitcoin's environmental impact has shaken a bit of confidence here at least one company is coming in to buy the dip, microstrategy. it boosted its recent bond offering to $500 million so it could buy even more bitcoin, that stock down about 4% kelly, tyler, back to you. >> do you think it is possible

that public companies that have bitcoin on their balance sheets are now going to come under pressure from shareholders or whether they are activists or institutional shareholders not to do it because its so clear that bitcoin is being used for nefarious ends, number one, and number two, it doesn't have the security that people thought it had before. >> that's been a huge pressure for public companies and things like pension funds it's used for illicit things, and that's another thing adding to the sort of his tans by institutional investors, which on one side has been seen as a big reason that bitcoin at one point reached 60,000 you had big-name investors going in

including environmental issues you say, kelly, is this really something that ought to be in a corporate treasury >> and i don't think those are the typical corporates, but they were wondering are we missing out if we don't put some of our cash to work >> thanks very much, kate. we'll see you shortly. for more on the seized bitcoin and sliding prices, let's bring back eamon javers and welcome in michael pa chela michael, what do you think the fallout, to use an overused word, of this episode will be for cryptocurrencies in particular in law enforcement or intelligence agencies can effectively crack the code >> i think what people need to

recognize is bitcoin is the greatest thing to happen to fbi. it's the most transpartner path of transfer, the hackers -- in a traditional liar, so i think the misconception in this instance is, is the bitcoin network hacked or is decentralization real. it's just fortunately a failure on the hacker side of private key management certainly -- the fbi works with companies and work with companies, it's an extremely used technology, and bitcoin is quite literally the best form of ransom payments. >> so let me turn to eamon do you agree with what michael just said, it's a blessing in disguise for law enforcement,

number one, and obviously there's a cat-and-mouse factor at play here in other words, with every forward step law enforcement takes, the mal-factors will learn what the fbi did and harden their defenses. so we're in a, i don't know, not an arms race, but a competition of sores, right? >> absolutely. it will never end. that thing between bad guys and good guys will go on forever the blockchain is public. we all had the wallet that was knowable -- for anyone who knows about how all of this works, right? that's not surprising. what is surprising is the fbi pulled this off, because they were able to retrieve that

appointing and the hackers hadn't moved it to someplace where that money was ungettable by the fbi, put it into a crypto mixer and got it out of a crypto atm somewhere? a country that's not susceptible to u.s. law enforcement, or the like how come the hackers weren't able to move those funds, or at least a big portion of them offshore to someplace where they could be out of the reach of the long ample of the law of the united states. i don't think we have the full answers, but nobody should be surprised that bitcoin itself is traceable by law enforcement. >> which is why i know people are liking at other options that promise to be truly anonymous. it looks like authorities were fortunate that people didn't follow their steps, but i'm sure they would in the future i guess my question is, what happens, just to look at this

from the customer point of view, in this case it was seen as a important infrastructure what happens in you're a local business in town and i doubt the fib can spend its time trying to get it back for you. >> that's heartbreaking. i talked to a family just yesterday who had their bitcoin stolen out of their wallet, and they said, wait a second, if the fbi can get that stolen money, how come they get mine back. there's thousand this is that boat right now so we do need to get our arms around all of this i think the bigger policy questions are, are some more draconian regulations coming for some of them, and things like the possible of sanctions on the cryptomixers themselves.

also useful no money laundering. those kinds of big heavy-handed sanctions could be the kind of regulatory response we could see going forward. the little guys are scratching their head, how come colonial gets my money back, but i didn't get my back. you piqued my interest, they weren't mart numb or didn't move it through the laundry fast enough, that's curious to me, but as you put together all of these pieces here, are we looking at the deflation of the -- at a lasting deflation of the crypto bubble? >> wow, that's a question that's bigger than i can answer, probably, in terms of crypto itself there's no question, when i talked to law enforcement about

this, they believed this ransomware crisis we're in simply can't happen if you don't have cryptocurrency to enable it it's a digit at quick payment method a lot of bag guys think it's not as easily traceable as dollars would be the reality is they don't have to drop off duffel bags of cash somewhere. if they are in these jurisdictions around the world where u.s. law enforcement can't get to them, that's the end of it, right? as long as the jurisdiction isn't going to prosecutor them, they are free to spend that money. without cryo, that whole economy goes away, so the crypto defenders gets agitated, but law enforcement very much believes c cryptocurrency is the fuel for this ransom scourge. >> eamon, thank you very much.

michael, thank you very much we lost michael's signal, but we'll have him back soon more of the day's big movers in a moment. plus markets near record highs, but minneapolis stocks are off their best levels. is that cause for concern? our next guest says yes. stay with us

welcome back the record rally continues to

roll on. we have strong earnings, strong macro data, the fed on the sidelines for now, all seen as market positives our next guest says one negative is the relative strength of chip stocks is off the highs from earlier this year. paul hickey is here and sylvia jablonski. welcome to both of you paul, are you the one watching the chip space >> we're always watching them as a proxy, as a leading indicator for not only the economy, but the broader market typically, when you start to see some weakness in the semiconductor space, you tend to see weakness in the market follow suit. it reached a high on april, but on a relative basis, it actually peaked in february, with a rough couple months. earnings season was abysmal for the sector 17 recorded what we call our

earnings triple play, where they raise guidance almost all of them fell in reaction to their earnings so the semishortage that was so hyped in the fourth quarter and earlier this year, investors really took a sell the news reaction. >> that's an interesting point sylvia, at the same time it seems like you would be a buyer of the weakness. would you? >> i am a buyer with the weakness here. i just think there's so much playing the favor of semiconductors, you know, first of all, you have some supply-and-demand issue, a semiconductor shortage issue, and there's been massive growth of purchase of devices, whatever it might be. you have ev growth, 5g growth, though 5g that is a -- for the next five years. it doesn't exist without semiconductors, and with infrastructure spending going that direction, it's just poised to grow.

louth cloud computing everything from electric vehicles, to ai, so i think that even though there's a sideways activity involved to fill the space, this recent pullback now is a good opportunity to buy in. >> you know, paul, i know we're not here to debate the merits, but more to look at them as a gauge the health of the overall markets. sylvia makes a strong case, but from what you said of the earnings, a good bit of optimism is already priced in is that what you think hints at the market more broadly speaking >> i think two things, maybe in the short term, a lot of this is priced in. sylvia has great points. they may just need a period of rest here. we've seen that in a lot of other areas in the market and they have been consolidating ever since then.

i don't think it's necessarily a major warning for the market as you were saying in the intro, a market scorecard, if we had other factors that were raising red flags, maybe we would be more concerned, but when we look at the market, the p-line his a record high. the credit markets remain very supportive of equities right now. even seasonality, while june is typically kerr a weak month, the strongest junes come following double-digit returns for the market, and the rest of your returns following these types of strong starts are also positive. so i think for the market overall, the overall outlook is bright it's just a matter of where you want to look and focus the semis may trade sideways and consult for a while here, but in the long run, you need that in the sector >> sylvia, if i buy your thesis

on 5g, what will the companies by et greatest beneficiaries and call me a 5g skeptic maybe it won't do much for me, but maybe it will do things for businesses, connectivity in the smart home that i can't even imagine. who are the winners? >> i think, you know, if you just go back to the infrastructure plan, some of the suggested benefits are connecting rural and urban america, and allowing parts of our country that just don't have the technology to have a digitally shared economy to compete and pretty much participate in the economic growth how does it help you personally? i think the things you do on your phone, depending on where you live, will work 100 times faster when you have the full 5g network implemented across the country. we're actually only a third of the way there. we have two thirds of the country to build out before we

get the full benefit form. >> i'm in the two thirds i have a 5g phone, but i never can use 5g. >> you need a network to support the phone, so it's sort of getting there, but there was a time you could take a phone call and couldn't read a text at the same time. now you can read eye mails via text, watch a video, all working faster, but it's important for things like the medical community, share digital records quickly, e-commerce essentially too move forward. >> so who wins here? >> sure, an xp semiconductor wins, nvidia, i think year to date they're 20%, 30% respectively in terms of performance. i think that it's an area where china is really winning. in order for the u.s. to become self-reliant, like we're trying to do, some of these names will have to beef up production, and it might be a place like intel

along with nokia, making a massive investment in 5g. >> i remember when you would hang up a phone call and you would get all these messages >> so i can watch a video ex toast e. and talk at the same time, and probably do my banking. i'm going to be so confused, it won't even be funny. >> thank you both. we appreciate it. is wendy's the new meme stock? the name trending on reddit and soaring 20% today. is it worth the hype a reminder that june is pride month. all month long we will spotlight people here is "new york times" columnist jim stewart. >> being gay, a, didn't exist, or b, was a sin and a crime. i figured the only way to get

ahead, even to survive, was to learn more, work harder, try to be better than everyone else it forced me to be very competitive. i didn't think that was fair, but it's something that has guided me throughout my life and turned out to be a great advantage. go aflac!!! what the heck, troy - that's not your kid! the aflac duck is just covering for sophie. same way he got me money to help cover her hospital bill when my health insurance didn't pay for all of it. but this isn't fair! that's exactly what i said! but then i learned health insurance isn't even supposed to cover everything. wait...for real? for real real. luckily i had aflac. aflac!!! get help with expenses health insurance doesn't cover. go aflac! !mm-hm! get to know us at aflac.com.

♪ maybe i didn't love you ♪ ( ♪♪ ) ♪ quite as often as i could have ♪ we're delivering for the earth. by investing in more electric vehicles, reusable packaging, and carbon capture research. making earth our priority. i thought i'd seen it all. ( ♪♪ ) when you buy this tea at walmart, walmart can buy more i thotea from milo's. all. milo's can create new jobs, jobs for people like james and lacey and me. me, i love my work family. family here and home, is my life. life is better for us because of a job. a job created when you buy this tea at walmart. ♪ i got love ♪ ♪ i got love ♪ ♪ i got love mama... ♪

keeping your oysters business growing has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo

here's your cnbc covid update at this hour. the cdc is easing its recommendation to avoid traveling to 6 countries including japan, canada, mexico and france the new advice is surely going to make those fully vaccinated very happening, myself included. the state department is changing its ownsh to the new cdc ratings. covid infection rates are down 79%. a weekly count of new cases has dropped to around 6 on,000.

shed warning that white a lot of progress was made -- still remains. let's get a quick check on the markets. fastly is higher the cloud company experiencing a huge outage today, impacting customers like reddit, the f.t. the company.

finally generac, up around 6%, saying it has a long-term runway for growth. >> based on my neighborhood, why agree with that. ahead, oil surging more than 40%, trading at levels not seen sin 2018 plus americans are heading outdoors and spending money. academy sports with a bright outlook, the-to-stock up 0%. did you know nearly half the mill lennians hold 25% of their net worth in crypto. the results of a new cnbc survey, when "power lunch" returns. at cdw, we get that even as we return to the office, collaboration is still evolving. it's time to make collaboration better, seamless, secure. with cisco webex orchestrated by cdw, get ai enabled automatic transcription and translation,

and easily share documents, notes and even whiteboards from anywhere. so even if you're not in the same room, you can still say, "go, team!" for evolved collaboration, trust cisco and it orchestration by cdw, people who get it. our retirement plan with voya, keeps us moving forward. and it orchestration by cdw, hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected.

all right, everybody today's trade deficit numbers could indicate that the -- the trade balance showed the biggest deficit everything explain more, rick >> hi, tyler you know what? once council of economic advisers, jared bernstein could explain better, as he did this

morning on "squawk box." let's play the tape. >> we're growing not just faster than many of our trading partners, but considerably faster >> consider this considerably faster, okay? so we have a record side trade deficit on the revision last month which moved from a 74.4 billion to $75 billion as you see on that chart. it went over $9,286,000, which means it's exactly up 100% year over year. the reason i had jared do it, because there's been a so much -- maybe he should let them know we're growing faster than we ever thought, buying all this is mods and it's raining money,

jobs, jobs, jobs we can't figure them fast enough as a matter of fact, that isn't the only large thing that's going on i just learned 15 minutes ago, the biggest -- in america is even bigger, 497.4 billion in extra cash parked there, because many of these institutions have no idea what else to do with it without getting penalized for negative rates all this tells me is we ought to moderate on spending unfortunately all stimulus starts with a d for deficit. tyler, back to you >> well, there's a lot to process there is the trade deficit by itself a bad thing, or does it, as bernstein suggests, stem from the fact we're growing and buying so much

stuff that we're emperoring more, importing more, importing more >> he's got it right absolutely correct think about what we're saying. the federal reserve, and the treasury, janet yellen, even the presidential administration, they need to focus on what you just said. it looks like we're cooking in grease and they want to throw more crisco in the frying pan. >> so the economy is functioning well enough without the additional stimulus? >> right i think the reason that interest rates are not moving higher is they see what's going on interest rates should be going up, but they're managed, they're manipulated. would you short the treasury market here and take on a fed that can't see that we're cooking in grease? see, that's the issue. one of these days, when rates start to go up, everyone is

going to jump on the train it's going to be tame, tame, tame, until it isn't. >> mr. santelli, thank you as always the oil market is closing today. and pippa stevens has the numbers. >> and then some currently up 1.2% advancing about 1.1% prices have been in negative territory earlier today, but they may amed ongoing optimism that's cord to estimates from

s&p, energy is once again one of top performing s&p inch pippa, stay with us how about dan, is $100 oil an extreme forecast or becoming more and more mainstream inflation traders are taking flyer. probably a little aggressive >> how long would it take? >> right now we have demand surging, because covid is starting to ease

so if you turned on the tap from opec, it could take a month or two. so, quinnly from an opec, not so quickly outside of opec. the reality is that so market knows it's tight it's one thing to say, okay, a few people think it's possible, and so forth what is the consensus trajectory at this point? to dan's point, there's a lot of unknown as so on the supply side, opec could bring production back online u producer could start pumping if they said

>> they want to see their family but that remains to be seen. amid that environment, were -- which is leading traders to bet we will see a longer term upward traj trajectory >> john was talking a while ago about how our dysinvestment is pushing up oil prices do you see traces of that in the market this idea that it's ceding higher oil prices. >> i think we have the law of unintended congressing, where we have an administration that i think would like to see greener energy, it's more expensive energy, and that hits the folks

least able to afford it. so i think we have to have both green energy, conventional energy, and probably along the way support some of those folks that are less able to pay for higher commodity prices. >> dan pickering, pippa stevens, thank you. wendy's climbing 25%, the reddit crowd is driving through, buying up shares, should you believe the hype our traders will discuss plus clover health also experiencing meme-er mania more on that when "power lunch" returns.

♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. there's interest you accrue, and interests you pursue. plans for the long term, and plans for a long weekend. assets you allocate, and ones you hold tight. at thrivent, we believe money is a tool, not a goal. and with the right guidance, you can get the financial clarity you need, and live a life rich in meaning, and gratitude.

to learn more, text thrive to 444555, or visit thrivent.com. ugh, these balls are moist. or is that the damp weight of self-awareness you now hold in your hands? yeah (laugh) keep your downstairs dry with gold bond body powder. it's soars after reddit traders turned their attention

short squeeze could be at play here short interest is nor ahn -- 43% of the flow to short, to short meanwhile, let's get over to seema mody for "trading nation." >> we are looking at the reddit traders flock to go another name, wendy's, or so it seems. the fast-food change, and some of its signatured -- a chance to go global, and this is unlike some of the other meme stocks, right? it has a proven business model and has consistently growing

it was unfortunate that think didn't do well their expectations coming out from the pandemic aring on, they're not bad, they're not as good as the rest of the group. you look at breakers that didn't do well, had huge expectations coming out so, you know, this stock compared to others just send as attractive also trading at around 27 times toward earnings, so how would you value the stock? i think the reason the reddick crowd is pushing it up is -- i can guarantee you now changed

overnight. wendy's is a good company. they have a decent business model. they're participating in the reopening, but when you look at it now, wendy's changed as a high 20s their sales are only growing about 3%, so we invest fundamentally. we look for a disconnect between valuation and fundamentals a at this point, with bryce tarts being achieved here, i just don't think it's a good entry point. i would just stay away i think it's reached a price target and relatively expensive. >> interesting, though a good day, michael and gina, thank you. we discuss it online, make sure to check it out. back over to you, kelly. >> seema, thank you very much.

after the break, smashing estimates. with some really 100 pro -- we'll be right back for more

the lexus es. every curve, every innovation, every feeling. a product of mastery. get 0.9% apr financing on the 2021 es 350.

experience amazing at your lexus dealer.

welcome back to "power lunch. call your attention to shares of chipotle which are up 1.25%. you see that spike the cfo saying they have increased prices 3.5% to 4% across the menu to cover the cost of wage increases

executives expect other restaurants will feel the pinch of inflation as well investors usually like price hikes. they lift lower to about a percent gain. >> the ceo of academy sports and outdoors, those shares higher today. the company reported results that blew away the estimates the company crediting stimulus checks for at least part of the strong results can these trends continue post-pandemic? let's talk about it with academy sports and outdoor chairman president and ceo, ken hicks, who joins us on the phone. mr. hicks, welcome good to have you with us what's amazing here is that your sales in the first quarter were up 47% compared with the first quarter of 2019, not just 2020, 2019 why? >> well, we're seeing a lot of people continue with the activities that they picked up during the pandemic, like

fishing, camping, riding bikes, working out. people found new hobbies, they enjoy them and are sticking with them. >> is it those outdoor categories that are doing better relatively than, for example, tennis, golf, baseball, basketball >> no. we saw team sports was one of our best performing businesses this spring because, quite frankly, kids couldn't get out and play baseball last year and so they were out golfers continued golfing. one of the interesting things is we actually saw football was a big sport this spring as a lot of kids who can't play football in the fall were playing seven on seven and spring ball in the spring. >> yeah. so you're picking up on team sports, picking up on outdoor sports e-commerce sales down 20% year over year. i suppose we shouldn't be surprised at that, because that was really the only channel that was working a year ago but still up more than 300%

compared with first quarter of 2019 let's talk a little bit about whether you're doing curbside delivery and pickup and that kind of stuff at your locations. how has your business changed basically over the past two years? >> it has changed a tremendous amount with the addition of by online, pickup in stores and curbside because of a lot of the things that we sell. big, bulky items about half of our dotcom business is pick up in store, either curbside or inside the store with things like grills and treadmills, bicycles people will go online and shop and come by and pick it up in the store. >> let's talk about any supply chain issues that you're experiencing, any shortages in inventory where you can't get what you would like to sell, and what about price hikes

are you finding that manufacturers are passing along to you price increases that you in turn pass on to consumers >> we are seeing supply chain challenges like everybody else is and it's throughout the system all the way from shipping to trucking in the united states. that's created challenges. so we do have -- while we're in adequate inventory shape, we're not in the shape that we were, say, in 2019 so there are a couple of areas that we've got some outages. for the most part we have adequate inventory to serve the customer we are seeing pricing pressure on some merchandise and we're working very diligently to manage that so that we don't impact the customer. and we're seeing increases on the supply chain, particularly in the transportation area. >> ken, thank you very much for that very full report on your

company. academy sports and outdoors up 6% today ken hicks, thank you. when we return, results of a brand new cnbc survey showing millenials are bullish on the markets and are betting big-time on crypto. we're back in a minute ♪ i wish that i knew what i know now ♪ ♪ when i was young... ♪ you need a financial plan that fits the way you want to live in retirement. a plan that can help grow and protect your money -

now or in the future. with an annuity in your plan to help cover essential expenses, you'll have the freedom to live the retirement you want. this is what an annuity can do. find the right financial professional to show you how. learn more at protectedincome.org.

[typing sounds] [music fades in] [voice of female] my husband ben and i opened ben's chili bowl the very same year that we were married. that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”] a new cnbc survey says that most millionaires are bullish on

the market but where are they actually putting their money? robert frank has more. >> tyler, nearly two-thirds of millionaires believe the economy will we bullish on the year. now, if you look at three-quarters of millionaires, they say the s&p will be up at least 5% this year with more than a third saying it's up double digits. their favorite sectors for new money in stocks, tech, financials and health care millionaires are sharply divided over crypto, however a quarter of millionaires say cryptocurrencies are a fraud and 39% say they're real but overpriced now, millenial millionaires are all in on crypto nearly half have at least 25% of their wealth in cryptocurrencies and one in four millenial millionaires have at least half of their wealth in crypto.

now, many of course could have made their wealth by crypto, that's why they have such a large share. but nfts are also a sharply dividing asset here. nearly a third of millenial millionaires say nfts are the next big thing while boomer millionaires, most of them anyway, don't even know what an nft is tyler. >> i love that we're clueless i'm clueless >> but robert said that a quarter of all millionaires think crypto is a fraud. but if you're a millenial millionaire, you may have half your net worth in it but i think that highlights there's only one of these things that's going to be true. if it's not a fraud, maybe they're on to something. if it is, they're screwed. >> that's right. and the good thing is if the younger folks are wrong, they have a long lifetime to make up for their mistakes if the boomers are wrong, they missed a big opportunity. >> all right, robert, thank you

very much. following the money for us. >> nfts are not for tyler. can we tease that we might have a lot of discussions about crypto, nfts and the rest of it in a couple of days here we'll do a whole crypto hour by special request. but that's it for "power lunch" today. let's hands it over to "closing bell." we'll see you tomorrow. >> welcome to "the closing bell." i'm wilfred frost at the new york stock exchange. stocks remain near record highs. while there's little movement on the major averages, there's a lot going on beneath the surface. >> i'm sara eisen. let's look at what's driving the action the meme trade is alive and well with some new names being added to the mix wendy's surging double digits after increased chatter on reddit and clover health is spiking as well job openings jumping to a record high in april pointing to some difficulty businesses are having in finding workers and cr