inexpensive valuation. >> that's two straight days josh that slp gets pulled i don't have much time. hope it gets delisted. amazon up another 44 sticks today. quietly up 4% on the week. just below a breakout point. >> all right weiss, give me a name, please. >> porsche >> all right the exchange starts now. thank you, scott hi, everybody. i'm kelly evans. here's what's ahead this hour. inflation soars by the most in over a decade and the monthly increase in cpi was the second biggest since 1981 why are stocks rallying? why are bond yields barely budging or dropping right now? plus b of a downgrading clover after its reddit field run-up. and consumers behaving badly

and crypto is coming to 401ks. all in rapid fire. we start with the latest state of the market. hi dom. >> the state of play is generally positive we are off our session highs but still i am going to put a star next to the s&p 500. we hit a record high shortly after the opening bell there dow industrials 34593, up half a percent. generally half a percent advances for each of the three major indices. record high force the s&p. you mentioned clover health. let's talk about the other meme stocks the kings, the original ones, gamestop, and amc down sharply 10 force for amc 22% for gamestop they could look to sell shares in a secondary offering. clean energy fuels down 15%. workhorse, the electric vehicle company, a gnat gas for vehicles and electric vehicle companies both stocks getting love from retail traders, selling off

today. bank of america analysts put out a new note on what the next meme stocks could be. cnbc subscribers could check out those recommendations. we are near record highs just $33 away from where the levels were rh.com, restoration hardware, upscale furniture and furnishings,cally showing the home improvement market is alive and well those numbers look good. rh the stock of the day. know you follow that one closely. >> i do. >> cpi jumped 5% year over year in may that's the fastest pace in nearly 13 years. but both stocks and bonds seem to be slugging off this news the s&p 500 hitting a new record high today the ten-year now in the red at 1.47%. what's behind the inflationary

disconnect joining me now mark smits of wells fargo advisers and johnd welcome to you both. mark, explain what's going on, especially in the bond market? >> listen, cpi is the news of the day, hitting five. thn' 2008. the disconnect is in 2008 there wasn't as much liquidity as there is now trillions of dollars has been pumped into the economy by the feds more cash on hand in people's checking accounts than you have seen in 30 years so that's the disconnect even though cpi is going up, folks are still spending money because they need what they want and they have got the cash to do night understood here's my question investors look at all of this and go there is cash sloshing around everywhere, why would people buy bonds with that money in why buy bonds i don't understand. >> listen, people are a little afraid of where we are in the market when i talk the my clients every

day, they are looking at every single stock they own in their portfolio at all-time highs. when folks think there is not a lot more to go up they are going to go into the safety assets like fixed income. >> john, what would you add to that i would say that the fact that it'shappening to me is what is interesting. in other words, we can sit here, it doesn't make sense at 1.5, should be up at 2, but it doesn't matter it continues to persist and it is wreaking havoc at the shortened when banks have to park their cash with the fed instead there is bizarre mecke nations happening i'm trying to figure out which is the dog and which is the tail so the speak. >> kelly, you are right. the bond margaret is a conundrum to us, confusing to us, it is a mystery. but we know there is a lot of foreign buying coming in we learned that earlier this week with one of the treasury options. then we also know the bond market believes the fed that

this is tronszer to, that reopening parts of the economy are leading this inflation which you and tim were talking about that's what the bond market sees and by the way, there could be a more let's say spooky component. we are actually seeing small cap stocks down today. is the bond market thinking that potentially inflation could start to slow the economy. >> exactly. >> we haven't thought that through yet. just something on our mind. >> exactly what i want to bring to the surface people say i am seeing price hikes, it is got to be inflation. no, price hikes won't be a problem if you can absorb them maybe the consumer can absorb it at least for a time. how do you invest this an environment where the prevailing paradigm pour the next six to 12 months -- after that time things may look completely different. >> you have got the look at sectors that haven't performed

well in the last year or so. there are quite a few of them. you still see there is upside in the financial sector compared to many of the sectors out there. folks are talking about energy there is a lot of sectors out there that people can get into to try to avoid some of the pitfalls of busting out all-time highs. i am telling my clients value overgrowth right now you are going the continue to see these consumer discretionary stocks run everyone is out. i went to miami this weekend couldn't get a hotel, or a restaurant reservation, fights were over $1,000 this is coach. people are spending money because they have it unfortunately it is the haves and the have-nots. the inflationary numbers are going to really affect the bottom of the country's economic stratosphere and folks at the top don't care they are spending their money. >> absolute lie it is going to create a pinch there is a stimulus check, but that's going to wane over time

and once they raise prices they won't cut them 20% next year, no, of course they keep them high where do you put money to work, john, you have ideas in the bopped market and in the stock market give us a couple of quick ones. >> think about this, post recession, and inflation concerns in march we started moving in inflation concerned. we are doing it again now in june that means to us gold, silver, real estate, more equities than bonds because we are thinking yields are going up as well. what's on our mind, post recession, there is $4 trillion being didn'ted the see if this kmb actually speeds up or if it slows down and then we have to take some inflation hedge for our clients at huntington. that's our job, guide through recessions, guide through inflations right now, headline inflation is up we hope the fed is right that it is transitory? we will leave it there with the

$4 trillion question hanging in the balance. thank you. let's turn to in-person conferences. they are back. there is a big event in houston to kick off the reopening right now. the stock of aer inially 140-year-old company is going up pretty strongly as well. they have gone from taking grease out of restaurants to revolutionizing the fuel industry brian stuter is down at the green energy conference with the ceo of darling ingredients for us brian. >> kelly, thanks very much you talked about the meme stocks a few minutes ago with dom this stock is not a meme stock but it has taken off like rocket fuel which rocket fuel was powered by renewable diesel. dar, darling you are one of the hottest stocks in the green energy space. restaurants, grease, animal fats, renewable diesel, what's your main business right now >> we process 10% of the world's

slaughter animal by products we convert them into food products if you take a j gel cap every morning, jennifer aniston with collagen peptides. that's us. organic fertilizers. then you move to the fuel, we have taken animal fats, the greenst hydrocarbon in the world and made it for decarbonization ready for today's world. >> you have a 50/50 joint venture on the retining side as well swhaes your total addressable market in renewable diesel there are other companies that would also also like to be in the space. >> renewable fuels are part of a portfolio of solution has the world needs to both power itself and decarbonize. when we went into this in 2010 with is a layero they had already moved into the ethanol space. they are a greenest company out

there. they are a great partner we have the idea of marrying the darling supply chain of animal fats, their knowledge of hydrotreating or cracking the molecule and today we make 275 million gallons, a miniature drop in the bucket of fuel here in the fourth quarter that mofls up to 675 million. and then a third plant is coming on line in 2023 making us the second largest company in the world making greenery newible few else. >> the stock has gotten to $77 citi group yesterday comes out with an initiation, a buy rating and a $110 price you were a $25 -- now $110 price target you are at $75 what did the street miss before or what are they just catching onto now >> the street is trying to understand is the margin in

renewable sustainable? is the moat that we build aroundport charles facility sustainable? manying we married low carbon intensity fuel with low intensity and a go partner downstream now they are seeing the earnings coming off of it and they are running the holiday. we are running margins in excess of $2 a gallon we are going to produce 700 million gallons in three months. marry it the our core business and it is a real easy multiple valuation. you get into 1.2 to $1.5 $1.$5,000,00$1.$5,000,000,000 e $1.4 billion ebitda dollars. >> do you think part of the problem with the stock recently is that analysts -- you are not oil and gas, really, you are kind of in the animal space, kind of in the pharmaceutical

base snits a simple business with a lot of moving parts there are no public comps out there. as i said we process 10% of the world's animal by products today. it is a unique space and one that also doesn't get a lot of coverage we have been lucky to bring on energy analysis this year. that's assisted us we are starting to shine it is fun for employees, our shareholders, our board, everybody to see this come together. >> the stock has been rocket fuel you say you are not getting a lot of coverage. you are getting coverage right now. darling ingredients. >> our first in pn hearn guest in 15 months, what better to do it a stock that's not a meme stock but acting like it and citi group says it has a long way to go we have a long way to go at the conference more guests all day long here from cnbc in houston. >> bringing us an under the radar energy play. coming up as offices reopening there is brewing standoff between employees who

are returning the work with large numbers asking to work from home. why this could be a depolice stationary trend. another break or make moment for elon musk as the company delivers its first plaid version. what's under the hood. we are back in a moment. >> announcer: "the exchange" on cnbc you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember. i am going to get a new whiteboard. it's not complicated. only at&t gives new & existing customers the same great deals on all smartphones. get up to $700 off our latest 5g smartphones.

welcome back to the exchange the past year plus of remote work has transformative for society. our work lives change overnight. and as the economy now reopens a stands off is forming between employees who don't want to come back to the office full time and their managers morning consult found nearly 40% of adults surveyed would consider quitting their jobs if their bosses were flegtible about remote work. 80% of ceos want employees back in the office full-time. what's the future of the workplace? let's bring in the president of the conference board and etan bernstein, of hare vrd business school. welcome to you both. ethan i will start with yoce pl, architecture and best practices and that type of thing

what are you hearing from employers now? how are they going to be changing the way that the office looks? >> thank you kelly i actually go back to when we published our hbr the implications of working without an office last july. we knew the conversation was come it has come. back then white collar office working were showing that necessity was the mother of invest investigation. they were figuring it out. satisfaction was going in the right direction. sense thin, the metrics we have been tracking every two weeks have only gotten better. in some respects there is an appreciation for remote work monks white collar workers captured by larger data sets remote work revolution so all of that is sort of leaving executives with two questions. the first is, if all of our traditional workplace metrics look so good, then why are we

interested in going back, quote, unquote, to offices? if we are not going back, then what are we going forward to that's the occasion they are having now and it is tied up in the ways that we have figured out how to make work in the last 15, 17 months. >> societal implications here. if you don't have to drive to the office, they can basically live anywhere. you could move to a lower cost part of the country and save a lot of money that way, improve your standard of living. the idea that employers don't necessarily have to have a furnished built out working space for every employee is also deflationary it allows them to save lot of money on real estate and sort of the functions of being in the office >> yeah, i think both of those thing are true you know, it's a question of where this is going to shake out. if we look at the conference board survey a year ago, there are only about half of the hr leaders willing to hire

remotely now it's nearly 90%. the reason a year ago was they didn't think that the productivity was going to be there. now that we have proven it they know the productivity is there you know, i think what's going to ends up happening is you are going to have probably a fourth work force -- we are not talking in-service, restaurants, retail, but office style service that can be done in a setting, it will be 25% in person, probably 25% remote, and 50% hybrid, custom still allows that ability to live in low cost areas and to be deflationary. the one thing that's not deflationary is wages. we are not seeing people then go because i am hybrid or remote i am willing to earn less. that part is not coming. >> we have seep a few companies where the pay structure is changing, of course a lot of times that's correlated to them being in expensive parts of the country. it is not because you are out of

the office, but it is because you don't have work in san francisco so we are going to match that -- i have seen companies looking at coalas, the cost of living averages across the country to figure out what percentage they should offer people compared to the home base people are getting comfortable with it, it is more productive i wonder, if all of that is just for a specific cohort of the work force when you talk to younger people, oldzer people whose kids are out of the home they are inclined to mix it up with people at the office that's a bigger draw, socialization whereas those balancing work life and family life, they gettent plenty of ho. >> remember -- that's a great point but remember that we have been doing this for 15 months in some case. if you have a turnover rate that means that percentage of your work force has never been in an office of yours. socialization for them has nothing to do with physical

space. are they more important, are the people who have been there who is more adjustable which way should we go there is socialization onboarding, figuring how we work together, either way you do it it is going to be butchy 50% hybrid, that's the one category of work we don't know how to do. it is going to be a bumpy ride i think there is going to be a lot of experimentation including frankly with the questions about kpa compensation and how the global talent market we always talked about but never had if we have that remotely it is going the change the way we calculate compensation. >> it is true because we have been talking for decades about outsourcing. but now you have a situation where an employer in new jersey can hire from ohio as easy as another new jerseyian and the pay scales can be lower and

allows the company to be more profitable because there is no difference between where the employee is. you wonder if there is going to be some kind of regulation >> it is a good question i think companies are struggling with it. it is interesting on gene genergene generational question. our surveys prepandemic said the people who wanted the remote work and most equipped for it were the millennials during the pandemic it turns out the hims were climbing the walls in their small apartments, stupidio apartments and wanted to get out and the baby boomers were sitting if the suburbs saying i am find out here now the surveys say it's flipped. so the baby boomer generation is more comfortable and you are seeing the urban flight out. which is why you are seeing some of the inflation numbers you were talking about driven by cars and everything else but this is a change the question is, are they going the migrate back is that going to flip back

again? i think it is going to recede partially but there is permanence. >> thanks for fleshing this out. steve and ethan. big changs happening during the pandemic. coming up, wall street reacting to the reddit fuelled moves with yet another stock despite taking a breather these shares are up 70% from monday. the moves that analysts are making. all month long cnbc is spotlighting business leaders and our own. here is kevin flynn. >> here's my advice. be proud of who you are, be true to yourself, never be something else to please someone else, your identity gives you power, use it, be fearless, be a leader always stands up for what's right. your sense of pride in yourself is going the tear down walls and build a future that's more uiblaninuse. go fight for it.

[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”] we are thrilled we finally found our dream home in the mountains.

the views are great, the air is fresh. (sfx: branches rustle) it is bear country though. hey boo-boo! we hit the jackpot! bear! bear! bear! look, corn on the cob! oohh chicken! don't mind if i do! they're hungry. t-bone! that's what i call a smorgasbord! at least geico makes bundling our home and car insurance easy. they do save us a ton of money. we'll take the cobbler to go! good idea, yogi. i'm smarter than the average bear! they're gone, dad! for bundling made easy, go to geico.com. welcome back to "the exchange" are off their highs. the dow is up 134 right now, the underperformer with a third percent gain s&p 500 is at the level of 4242. the nasdaq composite adding two thirds of a percent. we are watching the health care space as best. performing sector today and for the week

biogen moving higher today, nearly 4%. up more than 50% after fda approval for its alzheimer's drug this week the positive momentum carrying over today even eli lilly is up 4% to a new all-time high. the original dark company is higher citing subscription growth they used to be called bark box. up 20% this week 5% today shares of gamestop are sinking despite a revenue beat and naming two amazon executives as its new ceo and cfo. but the retailer didn't give guidance the turn around plan remains a mystery. gamestop is down 20% today to 241 and change for more on the call, head to cnbc.com/pro. good luck at starbucks these

days and the corporate response to bad behavior it is coming up in rapid fire, right after this

(vo) this is more than just a building. it's an ai-powered investment firm with billion-dollar views. a cutting-edge data-security enterprise. yes, with a slide. a perfect location for the world's first one-hour delivery. an inspiration for the next workout cult. and enough space for a pecan-based nutrition bar empire. it could happen. this is where dreams become brick and mortar. find yours, on loopnet.

chase first banking. a debit card and app for kids, and tools for you to teach them good money habits. set account alerts, savings goals, allowances and chores from your chase mobile app. all with no monthly service fee. chase first banking. welcome back, everybody.

let's catch you up on several stories that should be on your radar right now. it is time for rapid fire. kate rogers, bob pisani, and contessa brewer join me. welcome. our first topic, cryptos could soon be headed to your retirement fun for us all is teaming up with cosby to introduce the alt 401k plan while the bitcoin boom cooled off lately ether and boej coin have been to the moon this year. bob pisani is the most irresponsible thing you have ever heard >> an asset class is stocks and bonds and cash, i guess you could say asset is an asset class, commodities, maybe. what's the purpose of an asset class? to diversify your portfolio. that's why you have different asset classes. collect bls, if they diverse tie your asset base, yes, okay, i could consider them. here's the problem with bitcoin.

could it diversify your investments? could it serve as a diversifier? it certainly could the problem is, the volatility is so crazy that most people would advise to you stay away from it. that's why they are putting that 5% limit in there and they are acting paranoid about making sure people aren't going to go over that 5% limit personally i would tell people to stay away from it but i could see why people are wanting to get more involved in their funds. >> to bob's point they are getting more people and younger people interested and involved with their retirement fund 20 and 30-year-olds, their interest in all of these alternative asset classes, bitcoin in particular. if it gets you more involved with your 401k at a younger age that's good deal but there is a lot of volatility and i don't know that i would

want to risk it all on something like that. >> contessa? >> i think that the democratic access to vehicles for speculation you had at to be available to all, democratic access to all. >> i feel like that's a stump speech or something. like you want to -- >> i'm working on it. >> it is not bad, but i guess contessa, here's the thing it's not like people are saying you can't invest in crypto the question is whether a 401k fund should be harder -- it is not that he is it is speculative, it is so new, untested. >> that's true, but they also argue it is a hedge against inflation. because we are watching cpi coming in and watching the cost of thinks going up, if you are a young person wondering how fast your money has to go to keep up with inflation a hedge against inflation seems like a good idea the fact that they are capping it to 5% is a way to keep things safe for the 401k managers

it will be interesting to see whether we see other big 401k platforms following move. >> i shutly think this is a marketing move i wanted to pick your brains before we talk to the company itself we will talk to them next hour in "power lunch" today, the ceo of that 401k provider. let's talk about your next topic here, which is starbucks, kate rogers the journal is reporting it is running short on everything from syrups to oat milks, even cups, they are pausing production on less popular items, concentrating on just the big sellers and blaming the short ans on suppliers during the pandemic. this is happening in various locations, store to store. they should have the most leverage, they should be everybody's best customer who gets things first off the line, right? >> there is a few thing at play. the company won't specify what

is being shorted oat milk, oatly, they teamed up with that company that recently went public, there have been shortages with that. ongoing sly issues, business is booming at starbucks, because the country is reopen asking people are buying a lot. that's good thing. but there are labor challenges starbucks is huge, should be everyone's biggest customer but i don't think anyone is safe from the labor challenges being felt everywhere. starbucks isn't the only place that has brought this up papa john's, wing stop mentioned with ittic whichen wing shortage that's been going on i think it is being felt particularly hard in the restaurant industry, but it is wide spread and we continue to talk about it on the air. >> contessa, what are your thoughts. >> if you look at a place like buffalo wild wings posting a sign in las vegas because they were out of wings, if you have

to close early, if you can't give people the core product to what your business does, it is going to affect the bottom line. furthermore, i think some of these retailers could risk losing customers for the long haul if they go and sample other competitors across the street because of the supply chain disruptions. i think this is a real warning sign and could hit the bottom line. >> and bob, a quick word on this >> the cups will return. the little ketchup things will return don't panic. this is a good moment lock at reasonable objection they use 7 billion cubs a year 7 billion cups a year. reusable cups, they are allowing them back in i think it is great. i am not necessarily carrying around a reusable cup. a lot of people have the metal reusable cups. it is a great time to start looking at this. i know i am throwing in a different point. >> as long as they are not

reusing the cake pops. speaking of supply chain, jp morgan left investor day with a different impression than everybody else they said they are impress, upgraded shares of ups saying the mantra of being better not bigger and concentrating on more lucrative deliveries should help after the shares got hammered today because people didn't like what they heard. >> i have to say i was confused on the messaging here's what i took away. i am a dividend guy. ups pace $4 a year that's a 2% dividend that's a really good dividend. the s&p only pays 1.3% terrible these days the dividends. they talked about the idea of props going up 80 basis points paying out more of their cash flow to the dividend

it could be 2.8 prlz that would be top 100 in the s&p 500. just below the utility companies, the reits, that could be attractive. that's the one thing i took away that was of interest. >> people go you are up against amazon and fedex they have been outperforming fedex this year but maybe you want to invest that in taking on -- you are taking on amazon that's a tough competitor. >> i think the real key here is pricing power. if you have figured out how to execute prices that are going to cover the costs, that's key -- they said the cost efficiencies that up is finding can drive margins higher here. i think it is worth noting i think the price is question key. >> a rebound today, tough session yesterday todayarding north of 1%. finally a year and a half stuck at home has caused pent up anger

and it is spilling into public fits fooitszon over wearing mavericks on planes, fans spitting on nba players. what is going on >> numbers back this up. the faa said it has seen a marked increase in the number of instances of reported unare youly passengers southwest and americans refused to reinstitute alcohol service on planes because of this rise in fact a flight attendant got her teeth knocked out boo an unruly passenger masks are at the center of some of this. but not all, target and walmart had to limit sales of pokemon cards because of fights by grown men over getting these -- here's one in walmart where they are fighting over access to the trading cards. tart reinstituted pokemon but not the sport trading cards because they say the safety of their employees and customers are paramount.

it is happening on the roads last year while driving overall was down fatalities were way up because of excessive speed, people on their phones, and because of impaired driving. talked to a psychologist about how you can change this around because the retail remembers desperate. their front line people are getting attacked on the basis of gender identity, their race, their disabilities the psychologist said there is a marked increase in bad behavior. it is because of stress and frustration leading to aggression it is because of bad role models, the pulmowe admire behave badly and they see it playing out. they say to turn it around what you need is empathy and going back to the golden rule. gap and others joined in on an initiative to get customers to pledge they will support the front line workers and not let the bad behavior take over. >> kate rogers. >> i am appalled at all of the bad behavior, particularly -- can we just take a moment at that talk about grown men

fistfighting over pokemon cards. like what is the world is going on i think personally just in covering restaurants and small business over the last year these front line workers that interface with consumers have been through so much, as have their parent companies, over the last year. i think you really need to have empathy and be patient and kind to people who worked throughout this entire pandemic and put their health and safety on the line i don't know how you re-enter society and treat people like this it is disappointing. >> bob, last word here. >> there is two ways to look at this, one is the incident level is still fairly small. don't get that concerned about it the other way to look at it, i think the right way, and i agree with contessa is even a small number of incidents is alarming. the question is did sudden ewe all forget how the behave in public because of covid or did it actually start long before that as a result of bad role models or disgraceful behavior on social media. i tend think it started before

that and blaming covid is probably not the right way to look at it. imwith contessa, better role models, calling people out on it and empathy is definitely what we need. >> contessa, your response >> i think when you look at the experts they are gauging the bad behavior because they are seeing it increasing across industries. it is true we have a problem they do say the pandemic, being cooped up, home schooling kids, being sick, the frustration exacerbated what may have been a problem even before the pandemic. >> yeah. >> the problem is real and the trick is, as you say, put yourself in somebody else's shoes, would you want somebody else to tailgate you, spit at you, throw water bottle. >> i am rethinking my drive in this morning sorry, everybody i liked it better when all of the bad behavior was just on twitter not in the real world. thank you. still ahead, another analyst has changed coverage thank to

the reddit fueled moves in this. the stock is up 70% this week and those details are next if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it. ♪ ♪ ♪ 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. 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. welcome back to the exchange i'm tyler mathisen here's what's happening at this hour houston hospital workers aren't the only ones protesting mandatory covid vaccinations some of maryland's biggest hospitals are also telling workers they must get their shots if they want to keep their jobs in some quarters it is not going over well. tonight on the news the growing fight over mandates and what else is being done to persuade people to get vaccinated. this russia health measures are being stepped up to hold a new rise in covid infections new confirmed cases topped 11,000 today a level not seen since march. russian media showing bus riders getting tickets for not wearing face maskis. in uganda, hospitals say they are overwhelmed with covid patients the country has been reporting some of its highest daily cases

totals of the pandemic in recent weeks. travel restrictions have been imposed and vaccine doses have been recalled from rural areas to fight outbreaks in big cities. we have another instance of reddit traders forcing the street's hand. shares of clover are up 70% over the past week and it is causing bank of america to downgrade clover saying they are valuation is no longer supported by fundamentals they are maintaining their $10 price target clover is at $15 they think clover will continue to outpace the broader medicare insurance market but they say the path doesn't support the valuation. coming up, tesla's plaid plus model s is canceled but the regular plaid s model will be unveiled today what it means for elon musk. next

this is wealth. ♪ ♪ this is worth. that takes wealth. but this is worth. and that - that's actually worth more than you think. don't open that. wealth is important, and we can help you build it. but it's what you do with it, that makes life worth living. principal. for all it's worth. hey, you wanna get out of here? we've got you. during expedia travel week,

save 20% or more on thousands of hotels. expedia. it matters who you travel with

welcome back elon musk is set to deliver the first plaid ms, featuring a guszyed up interior we will tell you what to expect for this unveil tonight. there is lot riding on the

event. phil lebeau is here with the details. >> exterior of the tesla model s plaid -- the first delivery is taking place tonight out in freemont, california is not a whole lot different than the other model ss currently being sold the difference is under the hood with the battery and acceleration terms of the interr 0 to 60 in under 2 seconds they promise. 125 horsepower adequate range at a price of just under $130,000. and then there is the interior why this is getting a fair amount of attention. they have added a yolk the steering yolk with people talking saying i feel like the cockpit flying this thing and exhansed options with karaoke and you would do that in the tesla model s plaid. remember we have not seen an elon musk event streamed like this in sometime

i think the cyber truck might have been last one and these are the events typically that really get tesla fans going in part because they hear from elon musk and there is always an energy at the events that no other automaker has been able to match. we'll see if that the case tonight. >> sounds like a fun party, a kay owe key party in the few car but the steering wheel, i assumed a federal requirement to be round it must allow you to - >> there are a lot of regulations. >> could we see this in all car models in the future >> depends do people want it? there is a future to see vehicles with no steering wheel but a regulation to be ultimately approved by federal authorities so i wouldn't be surprised if you see an evolution coming to steering wheels and i think that people are looking at this and saying

is it for me maybe it is not but for those people who are attracted to that yolk i think they cannot wait to get a chance to get in and driver the plaid because it's not just the yolk. it is that 0 to 60 in under 2 seconds. >> i usually drive with hands in the lower position and the turn i can't wrap my head out thank you. >> you bet. >> stick and for a very special edition of "power lunch" next. the crypto craze hearing from everyone from block tower to a former ceo on regulation on the space. we're back in just a moment. best deals on all smartphones.r let me break it down. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember.

i am going to get a new whiteboard. it's not complicated. only at&t gives new & existing customers the same great deals on all smartphones. get up to $700 off our latest 5g smartphones. ♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa

do you struggle with occasional nerve aches, usaa. what you're made of, we're made for. weakness or discomfort in your hands or feet? introducing nervive nerve relief from the world's number 1 selling nerve care company. as we age, natural changes to our nerves occur which can lead to occasional discomfort. 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. 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. good afternoon, everyone hello. welcome to a very special "power lunch" why the krcrypto craze for the next hour we look at all sides of growing popularity of crypto currency. what about the wild swings the volatility of crypto

crypto's a very popular among you know who criminals including hackers demanding ransom in bitcoin and we'll look at the security and the regulation that lots of people are calling for plus the sudden poplarty created a new industry of mining, trading, payments and more we'll explore the crypto ecosystem and it all starts right now. >> thank you we begin by asking the very simple question where and how did this all begin how did bitcoin go from a line of coin to a currency? kate rooney explains. >> reporter: the idea for an alternative currency started 13 years ago in the financial crisis invented by an anonymous kriping to fehr with the name satoshi bitcoin started to attract attention online by 2009 the first group of bitcoins known as the genesis

block was created and an exchange was launched. the first real world transaction in bitcoin happened. two pizzas at today's prices cost more than $300 million. mount gox put it on the map and not how some had hoped launched in 2010 with a series of hacks and shut down and filed for bankruptcy protection. silk road was another mark on bitcoin's reputation just law enforcement officials shut it down after finding it facilitated transactions for agains, drugs and around that same time a few companies popped up that became key in bitcoin's evolution. coinbase brought bitcoin investing to the every day trader and bitpay allows companies to accept bitcoin for goods and services it rose to almost $20,000 by the end of the year. much of the gains erased in 2018

in what is called crypto winter. past three years bitcoin gained more acceptance on wall street with billionaire investors including stan druckenmiller and others squared, tesla and others now hold crypto on the balance sheets and this year the entire crypt market cap hit $2 trillion some competitors have popped up. the dominance and share of the entire market has fallen in the past year thanks to some of the smaller tokens like ethereum. >> are those cryptos, the yushs of cryptos, are those cryptos increasingly going to be the ones used by criminals and hackers because as we have seen bitcoin can be traced? >> so all of these in some ways if you trade them on an exchange can be traced. bitcoin has been the most popular by far, there have been, it's become the most popular for

criminals. although the stats recently show that overall criminal activity less than 2% of the entire market ransomware though was much higher and as the bitcoin market grows its share from criminal activity has fallen and compared to the early days of the internet hackers are smart, crafty, the first to find out about things like this and as bitcoin matures the idea is it is more institutionalized, safer and traceable. >> criminal or not, what all of these crypto currencys have in common is using blockchains. ledgers. correct? >> exactly they use the same technology i said the blockchain and someone said there are multiple blockchains on an own different one why the appeal for ethereum is to build on top of it as a software platform and boyne is

an older one, seen as slower, more expensive and new-age ones are coming in faster, cheaper, energy efficient which is an issue in recent years. >> thank you now to one of the aspects of the crypto universe that investors worry about, the extreme volatility and while most assets go through volatile periods not many are influenced by forces that have no connection to the asset's actual value tweets can result in big moves for example when musk announced that tesla wouldn't accept payment in bitcoin because of energy concerns it triggered a double digit drop in that crypto there's the tweet from musk and yes even emojis can move the market there's an emoji and a meme. hinting at a breakup sending bitcoin down by 3% how worried should