good afternoon and welcome to "power lunch. glad you could join us on a beautiful summer afternoon crypto having a comeback, but still getting crushed over the past two months. are the fundamentals still sound? we'll talk to a guest who says the technicals point to bitcoin at 10,000.

yikes. and commodity price have is also pulled back after their huge gains earlier on so is the inflation transitory camp right we'll ask the u.s. president of kraft heinz. >> and led by the faang stocks except one, netflix. we'll talk to an analyst who says it's actually aiding its competitors. "power lunch" starts right now and let's get you a check of the markets. right now the nasdaq hitting another record high today. there it is gaining about a third of a percent today the outperformer the s&p up a tenth. the dow negative and the faang stocks are leading the way. facebook, amazon and google at or near record highs, but netflix higher today, still down nearly 15% from its peak we'll have more on that coming up let's get a quick check on the price action of bitcoin. after falling below 30,000 yesterday, we're seeing it back up at 33,500

nearly a 3% gain today and bitcoin, kelly, is where we really begin this hour. the last couple of months have proven that investing in crypto is not -- not -- for the faint of heart we've gone from 63,000 in bitcoin all the way down yesterday to 30,000 and below. lots of big swings in between. have we finally hit a bottom we have two people to talk about it katie stockton says the bottom may be in but we could see 10,000, this could be an old-fashioned bull/bear debate lou, tell what's you're seeing that makes you think bitcoin could go all the way back to 10k? >> other than the head and shoulders information with i is ominous, the other problem it was below 10,000 and one of the things the pandemic is doing is makes us go back to where we

were before it started and, furthermore, we don't know how much leverage there is there's a shadow market that leverages up to 101. we just don't know it's like that secret chinese banking system it's scary and we have to flesh all these people out the country of malta is nervous because there's a financial action task force investigating them and we'll see if they get put in the penalty box >> katie, how do you react are you worried about malta? >> i can't speak to the fundamentals of bitcoin but to only the chart really. my feeling is it was a shorter term setup and that the targeted level has already been reached from that head and shoulders breakdown we saw in may. with the so-called support

around 30,000 we are seeing down side exhaustion. so if those give way to improve momentum i do think we have an intermediate low in place. long time is still to the upside and showing additional support around 27,000. so even if this 30k level is broken more decisively there's question for price >> so kate see as bottom being put in here. you see anything but that and you say, oh, by the way, i do not recommend any cryptocurrencies talk about why you are seau down on cryptocurrency as a class >> it was declared not as legal tenure but the treasury decared it as an asset to be taxed we have to disclose any

cryptocurrency transactions. the biggest problem is countries are pushing back turkey was the first to ban it and now china is forcing the shutdown this week through four major banks. so paypal and china cannot facilitate cryptocurrencies over there. we'll see if other countries will follow. that could be the nail in the coffin for lack of a better word it's not popular among regulators >> some of the countries that dominate the financial system including the united states and others who rely on fiat currencies, maybe they're uncomfortable with this idea it will gain traction but would you address, if you could, katie's looking at similar charts to the ones you're looking at. she acknowledges she sees that head and shoulders action that you pointed out. but she comes to a very

different conclusion than you do how do you respond to her reading of the charts as opposed to yours >> i would agree with katie the near-term support is at 30,000 there's no doubt about it. the volume dried up, selling pressure dissipated. the question is, what will be the next big news item china announced the ban in previous weeks but now are enforcing the ban this week. more news about these bans coming and we'll see if any other countries jump onboard basically it's el salvador versus china and turkey who don't like it and malta is under investigation by a financial action task force. >> i'll take china minus the points on that bet with el salvador katie, why don't you wrap it up for us here, louie and you seem to largely agree about the mid-range idea about bitcoin,

but what do you see longer term? address the paint about governments like china and turkey and others coming in and making it very hard to transact trades and business in crypto. what's the long-term view? >> there's already a long of bad news baked in. i would say technical analysis, understanding the supply and demand behind bitcoin, that's probably the best way to analyze it rather than getting caught up in the noise and the headlines every bit of news out there does boil down to one thing which is a buy or sell order. so we're trying to understand the supply and demand dynamics to me if that 30,000 level holds that would be a very incremental positive for bitcoin which did have a major base breakout late last year and that is still

intact >> would you be a buyer here or not? katie? >> a better buyer here i would love to see the momentum turn >> louie, no currencies at all good conversation, both of you great to see you again >> thank you we have a news alert on apple now. josh lipton spoke with the head of retail and is here with the details of the conversation. josh >> i did speak with apple's head of retail and hr, longtime, 30-year veteran in cupertino tomorrow apple is opening its newest store there in downtown los angeles at that historic tower theater. i did ask what foot traffic has been like. she tells me that every apple store is now open around the world. apple does operate around 500 stores we are seeing more people out

and about now. she says we will welcome as many customers as we can. an apple store is a hub of activity, and we expect that to continue apple doesn't break out store revenue for investors. if you speak to analysts they estimate it probably represents the store's total revenue. i asked about technology and how it's changing. there's other tech companies out there. you think of amazon with its ghost stores getting customers in and out i did ask if she would ever think about going that route she said there are customers who want express experience. apple offers that to them, but others want interaction with apple specialists. the job is to connect and make representations. i don't see a major shift forward. we have seen reports rehe tail workers have been quitting at a high rate.

i did ask deirdre o'brien if she's seeing that trend in her workforce which is in the tens of thousands she did not suggest she is seeing that. in fact, apple traditionally has a relatively low attrition rate within retail and is below the pandemic level >> this reminds us of the google star in manhattan. does google have larger ambitions in retail and is that something she might be concerned about or not >> i don't think so. google has the one store in new york and apple has around 500, around 270 here in the united states and, again, apple doesn't break out how many employees it has, but we do know it's more than 70,000 at this point. overall apple has about 160,000. it's important to remember why it's important to investors. analysts estimate store revenue

10% of the total but it's very important for certain products when i talked to tim cook and how stores were closed or shuttered, imposed a kind of challenge for some products in particular like the watch, he said, as a product people like coming into stores, test drive those bands before making a purchase it will be interesting what kind of tail winds potentially you see for some of the product lines. >> walked by an apple store saturday night at 8:15 in brooklyn, it was packed. it was jammed. >> i should have gotten my watch band there because i tried the $7 one at amazon and it keeps pinching me. if you're selling jewelry, you need to have the stores. tim cook reaching out to nancy pelosi as calls for antitrust regulations grow ylan it was almost a year ago the

ceos of facebook, apple, amazon and google were publicly defending their companies before the house judiciary company. now tim cook also argued his case behind closed doors calling nancy pelosi to personally voice his opposition to the bills that are being debated in the same committee today. we have reached out for comment and are waiting to hear back in a statement apple said, quote, we are concerned that many of the provisions in the recent package of antitrust reform legislation would create a race to the bottom for security and privacy while undermining innovation and competition. but democratic representative cicilline countered that this is really about writing the rules for the economy of the future. >> this problem is not just about market failure and at its core is about whether we have an economy where businesses fighting for survival can

succeed, the best businesses with the best ideas are the biggest companies with the biggest lobbying budgets >> the first of the six bills on funding the ftc passed the committee 29-12. guys, only five more to go back over to you >> i'm curious why apple would say this would be a race to the bottom for security and privacy. >> it would sort of open up their codes to third-party developers so people could switch their products from one platform to the other and that could be a security threat apple well known for its security features and they don't want to give that up the companies are against many aspects of the bills by breaking these up in several pieces rather than one massive piece of legislation they're hoping that builds a broader

coalition but also makes it tougher for the companies themselves to go after the package because they will be narrowly focused on the bills that affect them most. >> ylan, appreciate it coming up, could netflix be losing the streaming war for itself why one analyst said the company is leaving money on the table for competitors to pick up and we're asking the question the market needs to know right now, is inflation only transitory we'll talk to the president of kraft heinz u.s. about what he's seeing right now, input costs, retail pricing and more when we come back. these days you have to keep everything moving and reinvent the wheel.

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welcome back to "power lunch. we monitor the inflation situation across the economy we want to get a check on some of the volatility and food-related soft commodity prices for example, take a look at soybeans on a year to date basis after a massive rally beginning in april soybean prices have now fallen more than 20% from their peak back in may a similar move in other commodities, wheat almost flat and corn more than 2% off its own high and lean who go prices almost 20% below where they were in april how these prices settle in the

coming weeks and months versus prepandemic. certainly something to watch 2019 versus 2020 >> thank you food prices are a key component of inflation that everybody is watching maybe no company more in the middle than kraft heinz. the stock down about 10% over the past month but will inflation and that stock decline be trabstory the u.s. president of kraft heinz is here. welcome. >> thank you always a pleasure to be with you. >> and we love the mac and cheese let's just start right there, are you seeing these pressures come off the boil, so to speak is the peek behind us or still to come? >> well, it's hard to predict

everything at the same time what i can tell you is from our perspective it looks amongable, the inflation we're seeing so far. if you look at numbers and net inflation, really coming outside of big three commodities of coffee, meat and cheese. if you think about transportation logistics that's what we're seeing and a couple places with soybean. we have a very good three pronged approach about how we manage this inflation. first, we are driving the season we have about $400 million of efficiency that i helped manage through this secondly improving the ren owe vating of the brands we will have renovated 50%

we're bringing more benefits so that our friends continue to have that kind of strong pricing powers we have enjoyed over the years. and lastly, the reality is when we look at inflation, we will use a full array of revenue management tools and things like being smart about trade investments and make sure we are there when consumers need us also looking at price hike architectures. we are looking at larger sizes to bring better value for consumers, so going from a medium bottle to a much larger bottle we're also making sure we have the price point so things like for us lunchables, we launched a new $1 pack, also. the idea of having options for consumers at different levels that allow to us have good value

is also part of how we're managing through the whole equation situation we're seeing. >> ever had velveeta with rotel? it's one of the great things, carlos, one of the great dips of all time you talked about renovating your brands or rehabilitating what does that mean? how do you do that, number one and then as i look at all of your brands, how do you get organic growth in those brands and you have eight brands alone worth $1 billion in sales. or is the growth sort of limited to gdp growth or growth in population because there's only so much ketchup one can eat. >> well, let me just say, first of all, vet v velveeta is great anything >> true. >> the way we're thinking about

renovation is how do we continue to anticipate what consumers are looking for not just right now but in the future. a lot of our renovation is us thinking about efg opportunities. we can bring more sustainable solution, less ingredients to make sure that we understand how consumers are continuing to evolve their nutrition and we bring that into our product. that's a big part of our renovation in terms of growth, the reality, too, what we are seeing over the last year is that some of the behavior that consumers enjoyed during this pandemic time period in which they spend more time at home, they start eating more together, they work from home, those are many things we will see the most sustainable over time i don't know people thinking we are going back to an office that is 9:00 to 5:00 and we will be there in the office.

consumers you know made huge investments in their home, renovated their houses, went from urban to you suburban, now enjoy cooking, using the kitchen appliances they bought, enjoying the time together. we can bring a different scale and benefit and allows to us continue growing in a way nobody else can >> maybe the most important question here is what's going to happen with ketchup pacts and availability we know you said you expect the shortage to be near an end this summer i think as investors think this through you've increased capacity by like 12% or 20%. a 25% increase in production what happens post pandemic do we need that much of a permanent increase in supply >> listen, first of all, don't be afraid to use kevtchup on everything we did see this early. we saw that particularlyit was

in the food service business where we saw consumers were going from on premises to actually going to taking the food more at home, so we made a huge amount of investment in having all the sizes needed so the consumer could bring our heinz ketchup. the great news is there are a few brands that love like heinz. we think this will track even beyond the pandemic with consumers having their favorite brands like heinz whether they go to a store or a restaurant or bring it at home they want to have icons like ours we think it will be more sustainable over time and we feel good about continuing to drive the business forward even after the pandemic >> there you have it thank you for your time today. >> people are just grabbing

those little pacts, handfuls of them you should see how much ketchup my wife puts on her hamburgers >> i was so concerned about it there were 12. >> further ahead in the show how inflation and shipping issues could impact the supply of fireworks for the fourth of july and drive prices oh, you couldn't avoid this one, sky high some of the biggest movers of the day including one retailer selling off some of its key brands "power lunch" back in two. when you buy this tea at walmart, walmart can buy more tea from milo's. 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... ♪

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to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. welcome back i'm rahel solomon. here is your cnbc news update. at least 51 people killed and 100 wounded by an air strike in eth ethiopia's tigray region leadership have been locked in combat since november.

a pedestrian bridge collapsing onto a highway in washington, d.c. the incident injured at least six people and trapped several vehicles under debris including a truck. new zealand is reimposing social distancing mandates and limiting gathering sizes after a weekend traveler from australia tested positive for covid-19. the country has only reported 26 covid-related deaths thanks to its zero tolerance policy and the families of the victims in last year's helicopter crash that involved retired nba star kobe bryant have settled their wrongful death lawsuit. in total nine people died during the crash including bryant and his teenaged daughter. the passengers were on their way to a youth basketball game you are now up to date >> such a sad story. thank you. the dow is now lower -- it's been lower by about 25 points here this one sitting out of the green, enjoying modest gains the nasdaq we can say was at an all-time high earlier today.

>> first up, pvp, the retailer is selling its izod, van heusen to other brands for $220 million. i know where you went to college. you know where i went. everybody wore those izod shirts >> the end of an era >> the company saying the transaction reflects a new focus on calvin klein, tommy hilfiger and international brands >> and shares of moderna are deep in the red today. the cdc advising a likely link between rare heart inflammation and the pfizer and moderna vaccine. the shares down about 5% citi upgrading united rentals to buy they have further upside ahead for more on this call and others go to cnbc.com/pro ahead on "power lunch" a rising star we'll speak to another winner of a morning star fund award. >> i've been enjoying these all week why netflix's business strategy

is helping its competition and airplane aggression, physical assaults on planes. people aren't assaulting the planes, you understand how the fda and airlines are responding all of this when "power lunch" returns.

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welcome back the oil market is closing for the day. dom chu is at the commodity desk west texas intermediate futures just about $73 on the nose right now up a quarter of a percent. brent crude prices up about 2.5% half a percent now, now we are well off the session highs where it did touch earlier today those fuels were gained by bullish inventory data inventories fell by a greater 7.6 million barrels bringing stockpiles to their levels last year all pointing to signs of growing demand for fuel as the economy continues to reopen. by the way, wti crude guys up roughly 15% in just the last

month. tyler, kelly, back to you. >> feeling the pain filling up the gas tank where the ten year is staying below 1.5% after powell's attempt to calm markets. rick santelli, we heard it caught the market's attention. >> reporter: absolutely. it certainly seems as though without getting too fowl here we have more hawks than doves in regards to the fed committee whether it was harper on the panel or bostick, the atlanta fed president, basically speaking that in the fall maybe that's when the taper could begin and hopefully fall isn't going to be an adjective describing how markets receive that news. but, yes, a one year of two-year note deals they've remained sticky we saw them sell off and jump up in yield last week after the fed meeting where the dots are basically pulling everything a bit closer but even after the walkback they're still sticky and that's one of the reasons why whether

it's more hawks or pragmatists it seems as though there is a growing sense of realism within the fed committee that what's going on in the economy needs to be addressed more in the here and now than down the road a bit. we had a mediocre option today but maturities even like the two year, the five year is stickier than 10s or 30s and yield curves reflattening just a little bit they never regained their steepness from the big move last week tyler, back to you >> a quick question on this. what you point out was very interesting. we haven't regained the steepening which is typically bullish and yet stocks have regained their footing lately. we're hearing more hawkishment, why isn't the market -- the stock market at least responding more negatively to all of that >> reporter: well, i think because every time i look up in the air it certainly looks like it's going to rain more money and more capital we are washing capital, storing

it in fed parking lots i think all of that in the end will be very positive for stocks for the foreseeable future >> over $800 billion i read. thank you, rick santelli let's continue our conversation about bonds as we met a rising star in the mutual fund industry. morning star research naming pimco managing director and portfolio manager the 2021 rising talent winner in its awards for investing excellence. sonali manages the income fund focusing on high yield and multisector credit opportunities. sonali, welcome and congratulations on this richly deserved recognition glad to have you with us >> thank you >> you're very welcome >> likewise. >> i assume you heard what rick just said. i want to start there and we'll go back to how you run your portfolios, because they're very interesting, but rick was hinting at the possibility that some of the fed officials are

beginning to sound more hawkish or sounding as though they are going to be ready to tighten a little bit sooner than maybe later. how do you react to that or are you hearing or feeling the same things >> sure. certainly we are seeing strong gdp growth as well as strong earnings from corporate. however, our view is not to see the central banks hike rates however, we may see the fed signal in their next meeting that they may begin tapering asset purchases in which they begin in 2022. however, again, still not expecting a hike in rates. >> potentially a signaling that they will let up a little bit on the asset purchases but no increase in interest rates did i characterize your thoughts >> that's right. and globally you are seeing a similar in terms of bank of

canada, the bank of england starting to taper but, again, looking across developed markets we don't expect rate hikes in any sort of near term. >> you've been named by morning star a rising star, a rising talent in a bond shop and he's what you do, one of the best there is i was looking at your diversified fund portfolio and it is diversify. you have governments, secure advertised loans, high yield, nonu.s., emerging markets and emerging markets is your largest position why? >> sure. looking at today's starting valuations, emerging markets, as is to be expected giving the firepower and the vaccine rate here in developed markets is clearly higher than in emerging markets. starting valuations leaves us

with emerging markets as a potential opportunity down the road for additional spread tightening that said, we're being very selective in where we're taking exposure within emerging markets because, as you can tell from covid, from tourism and the like, it's not going -- we're looking at this year, 2021, baeg one where different countries and regions and sectors will perform very differently where hopefully in 2022 we see a little bit more of a moderate and global synchronization in growth >> sonali, it's kelly. the description really caught my eye. they said your cautious contrarianism is what stands out. that goes against conventional wisdom we see people applauded for taking more risk and really having the guts to lay these big butts and how that pays off. tell me why you think your

strategy is described as taking less risk. >> sure. we want to make sure our portfolios perform even in the down side. for example, within diversified income we want portfolios to perform like high yield credit so building resilience into the portfolio construction and that's something that we hear from the top down at pimco in terms of how we want to perform but we want to keep up with the betas but produce more resilience than the down turn. >> a strategy we don't often see applauded but you can understand why it would be a successful one. congrats again and thanks for joining us today >> thank you so much up next is netflix its own worst enemy? we'll speak to an analyst who says the stock does not take

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welcome back netflix is the worst performing stock sliding 5% and more than 13% off its 52-week high netflix is losing the streaming wars because of its rejection of advertising dollars, that it funds their competition. for more let's bring in laura martin, senior entertainment analyst. it's great to have you back again. are they really giving up that much ground here >> if they added advertising to their business model it would upgrade 30% to 50% and, more importantly, because netflix is 40% of total tv viewing and they don't have any ads, what it does is increase the cost per 1,000, discovery plus and peacock and

any company that uses ads for tiering makes those competitors more robust because they get all that extra upside from netflix taking away ads and shoving to their competitors. >> they're leaving money on the table. how much >> yes we estimate between $8 billion and $14 billion they are leaving on the table >> and that presumably goes to fund their competitors even though, and we last hour spoke with a television critic who denies netflix would go in the direction of advertising, but will they? >> yes, i think they must. the biggest risk to the netflix share price it loses its growth credentials and i think the stock has been flat for a year, as you pointed out it's not growing anymore so it multiple is at risk.

>> what would hastings say if he were listening to this conversation right now >> he would disagree our calculations say he could lose 30% of his total subscribers and i think discovery plus has proven he is wrong because discovery plus priced its ad light product in a way that that product actually has more revenue than no ads product. >> let me think this through i'm curious because this is an interesting conversation, how would you integrate ads into the netflix product in a way that would minimize the amount of subscriber loss that you would have if i wereto click on and they happened to run a 30 second spot

before the show starts, i would probably live with that. if you start interrupting my show i'm going to get really ticked off >> i think the way peacock and discovery have done it, ad a new tier and say if you want to save money, we'll put ads in and the consumer has more choice bl he wants to pay a lower price you would stay in your ad-free tier but you're rich, and some people aren't as rich as you, and that ads new consumers who can't afford netflix and the advertising actually adding value and creating more revenue than stand alone no-ad tier. >> laura, we're over time on this conversation but it's so

fascinating. i pay for an ad for youtube. where is that revenue going or is it just going to google >> it just goes to google. it just goes between google and whoever owns the content >> it doesn't fund any >> laura, thanks >> a pleasure. the faa, tyler -- >> issuing fines as physical assaults in planes surge we will dive deeper into this troubling trend next

that was more than triple last year's numbers and about 80% of the 2019 levels that was father's day, of course and that rebound in airline travel is reflected in the airline stocks american, dealt, united all more than -- starting to sell on the news, all of the stocks down 5% or more so far in june and now a sudden wave of unruly passenger incidents is making for unfriendly skies

4100 reports of bad behavior by travelers so far this year let's bring in phil lebeau for more i assume a lot of this has to do with mask wearing. >> it does, tyler. 75% of the cases reported from the airlines to the faa involve passengers who have said we're not going to wear our masks. and those cases are at the core of more than a half million -- half mbillion dollars worth of fines proposed by the faa. $563,000 worth of fines so far half million, i should say in total fines. the 75% of the passenger cases involve people not wanting to wear masks, and for the faa, the real concern here is that they've seen a surge in physical assaults, particularly of crew members. 60 cases where crew members have been assaulted and when we talked with the head of the faa this morning, he said for him as a former pilot, those stats are particularly scary >> it's really important for

everyone to understand that, you know, as a former commercial airline captain, if i'm flying the airplane you don't want me distracted by situations in the back of the aircraft we have zero tolerance we're reaching out in the public through your show and through social media >> here's one of the ways the faa is reaching out, starting on social media this is one of several memes they're putting out. trying to say to the public, don't act like a jerk when on a plane. don't physically assault people. if you are told to do something, you do it. those are the rules. if you'll not follow the rules, the plane will be twdiverted, you'll be taken off, charged and fined several thousand dollars more than $10,000, $15,000 depending on how egregious they have been trending higher we nour down anywhere between 25% and 30% depending on the day. on the weekend, down maybe 20% compared to 2019 levels. go on a slower weekday it's down

probably 30% compared to 2019. >> that looks like the sinus rhythm of my heart be that as it may, i don't mean to defend people who are behaving badly there was that shocking video of the woman who punched a flight attendant, drawing blood it was a vicious assault but some passengers may be confused or feel that the airlines are not on the right side when the cdc and others have said, well, you really don't -- you really don't need to wear a mask and those mask mandates have come down in state after state and so -- >> right >> people don't want to be told what they have to do so -- >> you bring up a great point, and i hear this from people all the time the only thing i would say is the rules are the rules that have been set by the faa following cdc guidelines whether that should be changed, that's a separate conversation for the airlines, their feeling is we are told these are the

rules. we must enforce these rules. and as a result, for the flight crew, when they are telling people, look, you have to wear your masks, they are expecting people to comply are people always complying? i've been on flights where i have seen people who haven't worn masks most of the time people do it. the issue here is you have some cases, not a lot, but enough that it's a concern, where it escalates beyond that. where people are like, i'm not only not going to wear my mask if you come near me, i'm going to haul off and punch you. >> that's where it gets very ugly, very fast and people feel stressed the thing -- i suspect that there will be a change in policy somewhere along the lines some time in the not too distant future phil, thank you. >> you bet >> my mom says she's glad she's not a flight attendant these days we'll tell you about the next shortage that's driving prices higher. u welcome 1,200 guests and all their devices.

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[sfx]: happy screaming [music ends] supply chain problems are causing prices to rise t dom has the details. >> get ready to pay higher prices for fireworks compared to what you're used to. higher demand coupled with supply chain issues, not just on the production side but the shipping side as well. industry insiders estimate that you'll see firework supplies 30% lower than last year and prices up by a similar percentage if you can find them at your stores we're already hearing stories

about fireworks retailers and pop-up shops running out of everything from sparklers to multicolored aerials and the import story is big because we know a lot of those come from china, guys. >> you were telling me, how much do americans spend on fireworks? >> consumers, back in 2019, spent about $1.9 billion on fireworks in 2019. >> shop early. >> thank you for watching "power lunch. "closing bell" starts right now. thank you, kelly and tyler welcome to "closing bell." i'm sara eisen weer record close watch for the nasdaq and the s&p 500 the dow is lagging today just slightly, down 21 points. >> i'm wilfred frost consumer discretionary, and energy are the top performing sectors with energy now up more than 5% on the week as oil hits a two-year high. tech stocks remain in focus as the nasdaq looks for another record close tesl