the epson ecotank. no more buying cartridges. look at all this ink it comes with. big ink tanks. lots of ink. no more cartridges. incredible amount of ink. the epson ecotank. just fill and chill. it is 5:00 a.m. in miami here is the top five at 5:00 strong end to a strong week. stocks looking to make more gains after the s&p notches its 30th record close of the year and small caps soar. reasons for optimism the president announced an infrastructure deal with the bipartisan group of senators nike shares soaring. the dow does something to make investors very happy. shipping all those shoes may cost more. fedex forced to increase

spending to improve delivery delays. this could be trouble for tesla. one driver claims the electric automaker broke its super charger promise. it is friday, june 25th. this is "worldwide exchange. good morning, good afternoon or good evening. welcome from where evever in the world you are watching i'm brian sullivan here is how the markets are setting up for the last trading day of the week. a strong week overall. coming off that quadruple witching all those options expiring which had the markets girating wildly. all that put back to bed on monday maybe more than that than the fed. stock futures are higher right

now. dow futures up 89. nasdaq up 16 you have record closes for the s&p 500, nasdaq, nasdaq 100, technology and health care sectors. s&p on track for its best week since early april. 10 of the 11 sectors are higher this week. led by, you guessed it, energy another big week there up more than 6% over the last four days. year to date, the energy sector up more than 45% it is the best start to a year ever for oil and gas stocks going back to the inception in 1989 technology a big winner this week nasdaq composite setting the record 17th close of the year. nasdaq is 00hitting the 20th record close of the year of 2021 nasdaq 100 with tesla and

followed by microsoft. tesla having a banner week up 9% since monday on pace for the best week since mid-april. microsoft closing with a market cap above $2 trillion. welcome to the club. you and apple in the united states stocks having a good week. crypto eh not so much. crypto is down ethereum is down 4%. bitcoin is down 2% it has been a rough few weeks for crypto investors let's get to the morning's top headlines and the infrastructure deal struck in washington kristina partsinevelos is here now with those key headlines good morning, kristina >> good morning. president biden outside the white house with the bipartisan group of senators saying they reached a deal the framework will include 579billion for transportation

and road projects and power and broadband and water. the group suggested multiple ways to pay for the plan this doesn't include raising gas tax or increasing the corporate tax rate we will have more from washington with ylan mui this hour and the toshiba chairman is out. he was working with the government to suppress foreign investors. and china's didi is looking for a $60 billion valuation for the company ipo. it plans to list the ee quivale on the exchange. brian, this is shaping up to be the biggest ipo this year. >> it is a big one didi in focus. kristina, thank you very much. let's get back to the

markets and your money your first guest says history shows there are likely more gains ahead for stock including big cap tech, but it could be a flat or bumpy couple of months joining us is joe. you have been long and strong and right the last couple of years. you go back all the way to the m mullet what are the comparisons with those three years and the way the markets are setting up right now? >> good morning, brian after a strong year in technology it is normal so digest and correct the gains and it is common to see another leg up in the market the three historical precedents are 1995, 2003, 2009

these are all three years where the nasdaq composite was up 40% to 50% following the large gains, the market corrected approximately 4 to 8 months. coming out of the corrections, we saw further gains and another leg up the analogy to today's market is 2020 nasdaq up over 43% growth has been in a correction since early february four or five months in the correction now coming out of the correction, i feel we are setting up for another significant leg higher >> is it going to be powered by something in particular or just a combination of a lot of cash, a lot of investor interest, fewer stocks we talk about buybacks this will be the biggest year for corporate buybacks in the history of modern humanity or is it d, all of the above >> all of the above.

for sure, the federal reserve an providing a friendly environment. i think the technicals are improving where the indices are above average showing institutional support that the large institutions continue to support the market fundamentally, things continue to improve with a lot of growth and earnings and sales and profit margins and expansion to me, the sign of the healthy market is broad based participation. specifically with tech, software coming back. faang coming back. the chip shortage and medical products with newer innovative technology coming up >> our morning rbi will highlight the six stocks that doubled in the last year you know what is interesting to

me and maybe it has nothing to do with one or the other joe, when crypto was really hot and everybody was talking about it bitcoin at 60,000. ethereum at 4,000. tech stocks got weak now crypto is weak and tech stocks is hot again. maybe it is a fluke. when you look at the charts, it feels like there's a bit of a bouncing around between the two groups of investinvestors? any thought of that? >> i don't know if there is enough data to correlate crypto to the market. for me, i don't know if there is enough data. the market is driven by two things earnings and interest rates. with the low interest rate environment -- >> are you hoappy with both >> i am happy with both. the fed is not raising rates until 2023

even if they taper later this year or early 2022, it is still an equity friendly environment the interest picture is strong and the earnings continue to improve. that's what i'm focused on that drives the next leg higher specifically in growth >> that leg higher in growth big cap tech that continues to lead us, joe >> the market continues to move in advance of events we still have to get through the end of the quarter and portfolio rebalancing and so forth that is normal at the end of quarters. we can shift from the interest rate and political talk and fundamental talk and looking at the next set of quarterly earnings we can see this happen in early to mid-july in anticipation of the next set of quarterly earnings if anything unforeseen happened during the summer, i could see it happening in the fall

the next few months, the next leg higher is moved by the mega cap names. >> you made a lot of qqq inn ve investors happy. joe, talk again soon have a great weekend >> thank you, brian. you're very welcome. when we come back, just did it why nike shares are soaring this morning. look at that the dow component up 12% that's good news for the dow we will tell you what happened to make those numbers possible dow futures are up as well a lot left on "worldwide exchange." we're withback right after this. the world is going hybrid. so, why not your cloud? a hybrid cloud with ibm helps bring all your clouds together. that means you can access all your data, modernize without rebuilding, and help keep things both open and secure. that's why businesses from retail to banking

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welcome back time for the big money movers. we do three big stock stories today. not today. we're going to give you one. don't worry. we are not getting cheap it's a biggie. nike fourth quarter results beating forecast sales nearly doubled. in north america, sales nearly doubled. estimate by $1 billion that's how much they topped estimates. nike projecting full year sales ahead of estimates let's talk about all this and the results and stock with jessica ramirez at jane hall and associates the stock is up nearly 12%

a lot of bulls on nike coming into the quarterly results i'm not sure anybody was this bullish. what exactly happened last quarter for nike >> they have an excellent playbook i think anything that nike does is consumer centric. as usual when we speak about brands, it is key to them being a winner they really are another data driven business. that is the key to the success of the business. they focus on what the consumer needs and use the data behind the mobile app and digital business and follow what needs to be vocal with the product we saw how ahead of the game they were. they have only gotten stronger during this time >> it feels like everybody has been wearing the same stuff for the year and a half in the states that were locked down the northeast and the consumers and money tends to be. how much is this a coming out of

the lockdown type thing versus a change and nike specific situation? is it possible to quantify what this is exactly? >> the excellent part of nike is they are huge. anytime you dogo to the web site or store, there is excitement over the new category. there is a new line or colors in women's. there is so much that there is extreme hype the consumer gets excited about that during lockdown, i think it is where we have seen the brand really respond with the consumer needs or what they are interested in. we saw a lot of golf come back and they had it immediately on the web site we saw trail running that is a category of interest to the consumer as we ease on

look lockdown restrictions we saw the consumer spending so much time outside last quarter and it is a hybrid win with street wear. we see so much on that on the web site already they respond so quickly to what the consumer needs i think you said it on the call yesterday. they want to expand the market they are by tackling into so many categories and making them exciting and cool to the consumer >> do you think it is a one quarter wonder or can they continue the torrid pace >> i think every time you just get shocked by how well they do every time even when you might have a concern or two, when you go back in and start looking at everything they have done in a quarter or simply walking into the store, there is excitement about that that is the wonder of what they have done.

i think as analysts, we try to separate what is going on behind the business at the end of the day, if you are consumer centric, you really will take a home run or a goal or whatever in nike's terms which clearly they are doing >> and look at that stock. wow. jessica, nike up nearly is% in the pre-market it will help the investors and dow in general jessica ramirez, pleasure to have you back on a big day for the swoosh down and up to the right jessica, thank you very much >> great thank you. bye-bye. all right. thank you. coming up. we will see you, all of you out there, on the lido deck. the cruise ship about to set sail from the american port with paid passengers for the first time since covid we'll take you there and show

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welcome back welcome back to the high seas. saturday, royal caribbean's "celebrity edge" is the first cruise with paying passengers to set sail from the american port in more than 15 months the voyage marks the return of the $150 billion american cruise industry something our travel correspondent seema mody is

watching closely she got a firsthand look of what is in store. >> reporter: brian, the "celebrity edge" is the first to set sail from the port with paid passengers in 15 months. this is historic after following months between the cdc and washington and cruise lines. the captain has been on this ship for over a year she says her crew are ready to get back to sea. >> this is something that we have been waiting and hoping for since march 15th, 2020 we weren't sure when it would happen, but every single crew member is anticipating the moment when the first guest steps on the gangway to say we're excited is an understatement we're thrilled >> reporter: this ship will run at 36% capacity to allow for social distancdistancing in the theater, signage to ensure passengers can spread out.

other safety protocols, enhanced cleaning and more hand washing stations and no longer self serve. crew and passengers are vaccinated for those who are not, they will be subject to more restrictions and testing. the stocks, the cruise lines hit off the rally of the low in march of 2020 and investors are on the look out of how the summer sailing goes. brian. >> seema mody on the "celebrity edge." we will hear more at 10:30 a.m. eastern time when the ceo joins us big day for the cruise industry. we have more to do let's get a check of the other top headlines, including more of the horrific building collapse in miami that shepard smith has been covering. phillip mena in new york

phillip, it is a devastating scene. >> horrific to see brian, good morning. president biden has proved an emergency disaster declaration in florida after the high-rise collapses near miami emergency crews are digging around the clock in surfside frantically searching for survivors in the rubble. one person was killed and 99 still unaccounted for. they can hear banging sounds from underneath the debris vice president kamala harris is heading to the southern border today president biden tasked her with the migrant issues she is facing criticism from republicans for not visiting the region. and derek chauvin will be sentenced for the murder of george floyd today on april 20th, chauvin was found guilty of second degree

unintentional murder and second degree manslaughter. chauvin will be sentenced on the most serious charge because all counts stem from one act and one victim the maximum sentence would be 40 years. although the prosecution asked for 30 years the defense asked for probation with time served today's hearing is scheduled at 1:30 central time. that's it from here. brian, back to you >> all right phillip mena, thank you. we will get more from miami later today. phillip, thank you. next, we head to washington for details on the infrastructure deal that everybody is talking about a little look at the capitol building as the sun rises. the infrastructure etf, there are many we are watching ticker symbol pave that is the fourth straight positive day up all week

if you haven't already, follow our podcast on apple and stitcher and all platforms dow futures are up 87. our exclusive insider buying segment is next with the biggest insider buy of the stock that we have seen in the year we have been doing this. that name ahead. more to do we're back after this.

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we have a deal the president and group of

bipartisan senators striking a deal for roads and bridges we head to d.c. and talk about it and the stocks likely to benefit. 115 degrees in spokane 110 in oregon? it could happen this weekend the west braces for what could be an historic and dangerous heat wave. follow the money the buying segment up in moments. including the single biggest insider buy we have ever seen by about $30 million. it is friday, june 25th. this is "worldwide exchange. welcome or welcome back. good friday morning. 5:30 in the east coast i'm brian sullivan thanks for joining us. here is how your money and the markets are looking halfway through the 5:00 a.m. hour they are looking good.

it's good with an asterishk or a swoosh mik nike is up 100 points. what that tells us is dow futures are up 91. nike is up 100 responsible for 100 points on the dow. nike is effectively all, if not more, than all of the dow futures. either way, it is a lot of math in the morning nike is soaring. it could be the nike show. overall, it has been a big week for stocks coming off that quadruple witching related chaos to end last week i know everybody talked about the fed and i'm not going to

fight with anybody this morning. it was more quadruple witch witwitching than the fed s&p 500 up 2%. dow up as well russell 2000 is up 4.3% this week think about that in one week, all markets have come roaring back after that quadruple witching related volatility to end last week. time now for the weekly insider buying exclusive we layout the companies seeing the biggest buys by executives it is seen as a big measure in the confidence of the company. if you get buying by insiders. we count you down five to one. you ready? here we go fifth, enviva partners $489,000 by a board member

the fourth most is sage therapeutics insider buying by the chairman buying $999,000 on weakness. the first insider buy. sage ceo number three, restaurant brand qsr. $1 million insider buy the parent company of burger king and popeyes by the son of the insider. the son of the founder of 3g capital which bought the company. now, the numbers get really big. second most insider buying last week continental resources. harold hamm buying $12.5 million. he has been buying on big time strength stock up 150% in 12 months you heard the name before. mr. hamm bought nearly $10 million in september

a $12.5 million buy would normally top our list, by far. not this week. this is the biggest insider buy we reported on this is asana and ceo dustin moskowitz. adding $42.3 million. he has been a buyer of late. his name probably rings true he is the cofounder of facebook. $42 million insider buy of asana. the top five enviva, sage, restaurant brands international, continental resources and asana. those stocks have been outperforming the sdwoverall market. now to the top corporate

headlines. let's go back to kristina partsinevelos and those. what do you have for us? >> fedex shares under pressure better than expected earnings and revenue. its forecast falls below wall street estimate. it will increase capital spending by 22% this year as it deals with shipping delays by a surge in e-commerce. google and amazon facing pressure in the uk the regulators launching a probe into the two tech giants over allegations they have not done enough to tackle fake reviews. i'm a sucker for those tesla is sued over fees in california at super charger stations the argument is they broke the promise for free charging for life when they imposed a fee on customers who leave a car at a station for too long.

and panasonic sells tesla stake for $3.6 billion it is looking to reduce the reliance on tesla and may use the cash for investing in growth panasonic makes batteries for tesla. the spokesperson says the stock sale will not change the relationship this relationship, brian, has been going on since 2010 when panasonic acquired tesla shares. they bought the shares at $21.15 back in 2010 >> $21.15. my math tells me they killed it. they crushed it. they made a ton of money banked coin? whatever saying you want they made a lot of money, kristina >> they said the stake was reduced to zero by march according to the filing on friday >> selling into strength maybe not the strength it had lately kristina partsinevelos, thank you very much.

>> thank you now, let's get back to the infrastructure story and the big deal that was passed in d.c. ylan mui has the details of the deal that the president announced yesterday. ylan, maybe not all that many on the far left wanted as far as infrastructure as far as infrastructure, roads and bridges and things like that, it was a big deal. >> reporter: absolutely. p president biden announced support for the $1 trillion infrastructure package that was negotiated with the group of bipartisan senators. this package features $579 billion in new spending with $312 billion to transportation and $266 billion dedicated to other infrastructure that is less than you stated, brian. biden acknowledged that this was a compromise he said that give and take is the heart of democracy >> we had a really good meeting

and answer to your direct question, we have a deal i think it is really important we all agreed that none of us got all of what we wanted. i clearly didn't get all i wanted >> reporter: the biggest sticking point was how to pay for it all the group agreed to a combination of measures. reducing the tax gap and rooting out fraud and unemployment insurance. repurposing covid funds and economic growth. >> this is important we've agreed on the price tag, the scope and how to pay for it. it was not easy to get agreement on all three, but it was essential. >> reporter: biden encouraged democrats to move on a fast track over human capital without

republican support he expects that bill to land on his desk by the end of the fiscal year. brian, back to you >> no, no, no. we heard the president saying nobody making under $400,000 a year would pay for it. i tweeted tongue -in-cheek, because i find this odd. if you make $457,000 a year in d.c. lawyers, lobbyists they will kick in money. if you make $350,000 in houston or dallas, you are not apparently going to pay anything probably despite owning six chevy tahoes and driving 100,000 miles a year any issue on how they come up with that number it seems they penalize the blue states where they have the random income limits for those

who get taxed to pay for this stuff. >> reporter: so, there are two things to keep in mind, brian. first is for the bipartisan deal, they working with found money. closing the tax gap. ensuring the people who already owe taxes pay the bill they are already receiving. unemployment fraud making sure the people are not falsely claiming unemployment benefits which republicans have called for for the bipartisan deal, they are working within an existing pot of cash. however, your point is well taken. that is going to be moving alongside the reconciliation package and that is where you can see potentially corporate tax hikes and hikes on the top income brackets. people with the 39.8% or 39.6% that is where you can see some of the tax increases come. republicans were adamant they would not include that into the

deal democrats have to shift that to the other portion of the package. there is no way that these will get through unless they both get through at the same time >> well, of course, unemployment claims collapsed when certain states started doing more checks you have a family making 450 on the upper west side. don't own a car and you are paying the family in texas making 350 that's a lot more than 450 in manhattan. ylan mui, thank you. >> they are considering the sales tax. >> they have to do something, ylan, everything they propose goes after the same number of people by the way, most of the people who makeover $400,000 make under

$1 million if you go through the spread sheets in the irs, which i have, if everybody gets taxed at the same rate and you have zero tax rates in nashville, texas, florida, it will be easier to pack up the u-haul and move. ylan mui, thank you very much. well, outside of that, the results of the bank stress test are in all 23 banks passed with flying colors now investors expect a flood of buybacks and dividends from the bank the fed lifted the pandemic restrictions for more on what it means, let's bring in anton schutz he is from mendon capital advisers. stress test. flying colors. are you expecting a big wave of buybacks >> yes, good morning you know, you expect to see these numbers on monday afternoon after the close. some banks may not disclose the full numbers

i think some will take a moderate approach. some come out with giant numbers in terms of excess capital and harder on wells fargo. they will be able to return a lot of money to shareholders the industry is very healthy. >> the markets have been indicating that. you look at the kbe and smaller and mid-cap in stocks you own and track so well, anton the market is flying a lot of green flags. >> they overdid it when people were afraid of credit. the banks set aside tremendous reserves for what didn't happen. i give the treasury and fed a lot of credit for putting stimulus programs in place all that credit fear is out of

the way now and banks with far too much capital >> ernl is we are seeing gains in the pre-market for the financials. anton, talk about the banks. you have been on the show. every bank you recommend seems to get bought eventually down the road you are really good at analyzing the balance sheets how are banks doing in general out of the pandemic with the booming economy and effectively free money >> the banks are really well set up for the booming economy you know, again, a lot of the stimulus programs put cash in people's pockets including businesses and consumers. banks are flush with deposits. most bank balance sheets have around 25% of cash and securities they are ready to lend as demand for loans increases, as people pay down their

obligations and cash balances decline, the banks benefit margins wis will increase. there is not a bank ceo i talked to that expects inflation. the fed will raise in 2022, not 2023 increase loan growth you mentioned earlier the states with the low tax rates those banks are seeing the best financial conditions seeing plenty of infrastructure and loan growth. you mentioned tennessee, florida, texas they are doing really well southeast is doing really well people love the better weather you know, the lockdown caused people to think where they live. being able to be outside to be close to it is really important. most banks are booming >> every guest we talked to mentions the southeast florida, texas, georgia. same states all booming. anton schutz, thanks for calling in on a big topic. we appreciate it

have a great weekend all right. coming up, an historic heatwave hitting parts of america this weekend. nbc meteorologist bill karins joins us next. dow futures are up 116 my credit card debt. i needed just one simple way to pay it all off. it was an easy decision to apply with sofi loans, just based on the interest rate and how much i would be saving. there was only one that stood out and one that actually made sense and that was sofi personal loans. it felt so freeing. i felt like i was finally out of this neverending trap of interest and payments and debt. ♪♪ i work for waste management, interest and payments and debt. been there 5 years. we take pride in doing our job. we're so fortunate to have somebody

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top national story next week that is an historic heatwave out west it could be 115 degrees in spokane, washington on monday and 110 in seattle putting a dangerous drain on the energy grid. we have bill karins with us now. look at the forecasts. fresno, spokane, portland. it is absolutely stunning. >> brian, it will be deadly. one thing people don't realize is heat kills more people in the country than tornadoes, hurricanes, flash flooding is second we are dealing with both of those right now. historic heatwave is focused on the pacific northwest. the biggest concern is people who don't have air conditioning. 30% of people in seattle have air conditioning it could easily be near 100 degrees for two straight days. picture living through that. 22 million people at risk.

heatwave begins today. today is the warm-up act 87 in seattle. those temperatures would be a hot day. nothing compared to what we will deal with this weekend saturday we will break record daily highs. spokane to near 100. seattle, 96. portland up to 104 degrees sunday and monday, the two peak days for the heatwave. seattle at 102 portland at 108. ridiculous temperatures. a lot of people living in the areas that have never seen it that hot before. in seattle, if we beat the all-time record high which is 103 degrees in 2009, we will likely see it sunday or monday as far as portland goes, it looks sunday is the hottest. the hottest ever recorded in portland is 107. there is no one alive who experienced 108 degrees in port

l portland it is bookmarked by two 100 degree days. 30% that we are concerned about without air conditioning and the elderly. the other issue this weekend heavy rain a large chunk of missouri under flash flood warnings many rounds of heavy rain. chicago could get into the mix of this later today and tonight and tomorrow detroit, up to 5 inches of rain. brian, you have to feel guilty in the northeast and east coast. it is gorgeous and perfect the northwest will be crazy. >> i saw the photogragraphic th, bill we hit the numbers for one day this will last for three or four days, not just the one this puts a dangerous strain on the energy grid. there is a serious drought out there. >> that's right.

>> sta tistics show us that the elderly is the category that is the most at danger. >> dangerous bill karins, i appreciate you coming on. on deck, remember the people saying big tech investing was dead think again. your rbi is up next. it is the six stocks that have doubled or more in the past year do you think you know the names? you might guess a few. and june is pride month. here is human rights campaign president alphonso devin >> i have a message for the young lgbtq person living in a state that recently passed anti-lgbtq legislation don't forget your capacity don't forget you have value.

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time for the morning rbi random but interesting thing with technology stocks big recent run the rumor of the demise has been exaggerated. there are six, yes, six. doubled or out performs in the last year. you might guess a few. lam research semiconductors up 103%. peloton. work or play from home is dead not quite. the stock surging up 110% in 12 months applied materials. up 130%. align tech

align tech up 140%. now to the plus 200% club. tesla up 245% in a year. you know it is hot congrats to elon musk and company. that is no match for the nasdaq 100 stock for the past year. that name is moderna up 255%. imagine that developed a life-saving vaccine. get rewarded by shareholders seems important. random, but interesting. the six doubling stocks over the past year. joining us now is kari firestone at asset management chairman kari, i listen to you on halftime do you put your clients money in moderna and tesla and now you will sail away on your solid gold yacht >> i would like to sail away,

but we did not put all of the money. we own names that have been up incredibly strongly. we own peloton i think that's a great list. i'm glad you brought it up >> are you surprised that peloton has continued to do so well the gyms are reopening if you bought a bike and paying the $39 or $49 a month, you are not going back to the gym. you are kicking the money in for something else >> i think peloton obviously benefitted from covid and people staying in and need to exercise with no gyms there is a huge market for people who didn't belong to a gym or aren't going back to their gym. i think technology is fantastic. i think it is a very, very long runway that stock can be earning $3 or $4 a share in a few years. the stock had a dot from 160 to

100. we bought stock there. it went down to the low 80s. we added to it again now it is 122. this can grow loud as a platform company. it is not just bikes it is exercise stretching, medication, yoga, running, running outside they are the leader in the field. we think that field will be enormous >> they have that subscription model as well. let's move past tech, kari things near and dear to your heart. trash and paint. waste management and sherwin williams what a pair? >> exactly sherwin williams has been a very good stock of course, housing is big and people spent a lot of last year remodelling their house or buying their house and fixing it up inflation protection

they were able to rate prices 7% recently passing on the costs of raw materials. paint is not a big factor when you talk about the cost of the house or renovating the house. same with waste management you do have contracts with cities and half the contracts have inflation connected links. they are able to raise prices if they see inflation it is utility like return. we like this stock here. >> sherwin williams. waste management peloton. that is a trifecta of names. kari firestone, have a great friday and great weekend see you soon. >> you, too. thank you, brian you're very welcome. with that, we're done on "worldwide exchange.

thanks for joining us. a heck of a week "squawk" and the gang are coming up next. i'm off ndmoay stay cool. it is going to be dangerous out there, my friends. have a great weekend . leave it. purchase protection for what you didn't see coming. one of the many things you can expect when you're with amex.

good morning we have a deal president biden announcing agreement on an infrastructure plan with the bipartisan group of senators. we'll show you what's included and whether we really do have a deal hope springs eternal. nike shares will help lift the dow. you can see it already the retailer soaring after the big earnings report. big numbers fueled by record revenue with the largest market in north america. and ecommerce is getting more expensive for shippers. how fedex is responding to rising demand and higher labor costs. it's friday, june 25th, 2021 "squawk box" begins right now.