usaa. what you're made of, we're made for. usaa welcome, everybody, to "power lunch." we're glad you could join us on this tuesday topping the hour on wall street, a tug of war we've got hot inflation data overshadowing strong profits

we'll break it down and what it means for your portfolio. >> and talk about tech's next big growth play. they help manage corporate networks it's a lesser known trade that our guest says could bring big returns. >> and a powerhouse road trip. wait until you see the meme they created. we're finding out what's happening in real estate across the country from new york city to boise find out which markets are hot, which are cooling off. "power lunch" starts right now first let's get a check of the markets. like tyler said, we have those blowout earnings from goldman sachs and jpmorgan not enough to lift financials let alone the broader markets. a quarter percent decline for the s&p 500 and nasdaq investors are focusing on those hotter than expected inflation numbers. the biggest gain in 13 years putting pressure on the fed. bond yields are going the other way.

we'll talk about that with jay powell testifying tomorrow the treasury market reacting to that also trying to digest this 30-year bond option. you can see the 10-year which popped on the inflation data first thing this morning then went lower and is back up to now 1.41%, ty. kelly, we begin this hour with the kickoff to the earnings season and those better-than-expected results from the big banks jpmorgan profit more than doubled, but revenue did fall. goldman sachs second best ever quarterly investment banking revenue and more wilfred frost is at goldman sachs where he will soon interview the chairman and ceo david solomon. wilf, take it away. >> hey, tyler. goldman sachs as you said smashed their estimates for the second quarter jpmorgan beat but in large part due to a big reserve for lease of about $3 billion. capital markets was once again the key area for both banks. both saw fixed income trading down about 40% year over year, but that was expected.

goldman had particularly strong performance in investment banking and suggested, by the way, on the call that m & a remains very strong. jpmorgan's equity trading performance stood out for them both overall were better than expected and showed the pandemic-induced party in terms of capital markets' activity has not altogether disappeared yet goldman's stellar numbers were also driven biasy asset managemt more than double what was expected in large part due to equity investments jpmorgan's net interest income did slightly disappoint but they were able to hold guidance in that area. on inflation, jamie dimon said he thinks it will be worse than what the fed thinks. he also said i don't think it's all going to be temporary but that doesn't matter if we have very strong growth of course we'll get to discuss that and so much more with david

solomon in just about an hour's time the inflation print, his view on whether these capital markets' activity can continue, his view on junior banker pay and overall market levels. i'm really interested to get to him on that because they sold down their investment portfolios during the quarter and a big question is why. does he think that market valuationis are too rich at the moment that and much more to come in just under an hour's time. >> wilfred frost reporting and he'll have the big interview with mr. solomon in an hour's time. the food giants conagra and pepsi. conagra zippsinking and pepsi mg higher as soda sales at theaters, arenas, restaurants are expected to rebound. it is a narrative playing out around the market. surging consumer demand and

spending colliding with rising inflation and rising input costs. but our next guest says the growth potential in the markets is underappreciated ahead of what he says is going to be a, quote, blowout second quarter earnings season. joining us now lawrence gollub always good to see you and get your read on the markets generally, but also on the middle sized or middle market firms that you follow specifically, you see this economy as hotter even than 2019s which was a pretty good economy, right >> exactly we track hundreds of companies' monthly actual results after the first couple of months of each quarter we compare them usually to the year before but we're seeing boomflation now so our report this quarter is growth from 2019 for showing median earnings growth over 30%. this is part of an accelerating

trending we saw the same thing in january and february of '21 versus january and february of '19. we're seeing it all across different kinds of companies as long as the companies have a moderate amount of pricing power. >> you use the word sustainable and that leads me to my next question is this as good as it gets, or does this continue for another six months, another year, what >> well, i think it continues for some time, easily six months and possibly well more than a year 2019 was a very strong period. we had very low unemployment, about 3.7% we had good growth in consumer spending all of that is getting matched today. there's a lot of talk about the 3.5 million missing jobs but it's easy to lose sight of how much wage growth has helped. average aggregate wages are 4% or 5% higher than 2019 and that's sustainable we have producers unable to keep

up with consumer demand, never mind restore inventory to regular levels, but even maintain inventory at the lower levels and with the deglobalization of so many supply chains, we'll see a lot of companies with target inventory levels higher than they were before look at the auto industry. i'm not saying auto profits will be that great because of supply issues, just getting goods out the door it's going to take more than a year to make up for lost production we've got $2 trillion of pent-up consumer demand. we've got the lowest ratio of consumer debt service to income that we've had in 40 years. >> so i'm just curious, lawrence, because we talked about what a great earnings quarter the one we're about to hear from is going to be but next quarter things get a lot more modest. even as we go through that transition period and possibly as more workers enter the labor force and put downward pressure on wages and some of the productivity effects you

mentioned might look worse, are those going to be two head winds for the markets? in other words, a consumer that's maybe not as strong or not as productive as they were over the past 12 to 18 months? >> so, kelly, i think you're exactly on to a possible risk and i've been surprised at margin expansion who'd have thought compared to two years ago with all of the supply chain disruption and wage costs going up that well-run businesses can keep up with it we're looking at hundreds of businesses that have navigated this very successfully i think it will be a plus, not a minus to margins if the labor force loosens up a little bit because you have producers and distributors who can't get enough goods you've got consumer service suppliers who can't open enough hotel rooms or maintain their service levels in restaurants. i think that the shortage of labor also comes potentially from changed immigration

policies we really haven't had a boom in the united states with restrictive immigration policies for many, many years and i think the official unemployment rate masks a little bit some of the labor shortages. it wouldn't be surprising to see stickiness in wage rates and see $15 unofficially becoming a sort of minimum wage for entry leve work. >> and you think all these companies can weather this period as well as they have weathered the environment coming into this. lawrence, thanks so much really appreciate it. >> the typical -- thank you. >> do you want to finish the thought real quick >> yeah, the typical manufacturing business in our portfolio has a four-month backlog. they're literally not taking orders until october or november that's why i say it has a year's worth of legs in terms of this tailwind. >> lawrence, thanks very much. lawrence golub. let's check on shares of boeing which are lower and

responsible for most of the dow's losses let's brick in phil lebeau to explain the latest developments. phil >> kelly, let me give you some perspective on how much things have changed with the dreamliner at the beginning of last year boeing was building 14 per month. they're going to be bringing that production rate now below 5 per month. the news is boeing will be cutting back its production and some of its plans for deliveries of inventory, planes that are already built but not yet delivered. that's because they're going to be inspecting and reworking about 100 of those planes in inventory. the issue? well, it has to do with the forward pressure bulkhead. they want to check that out. it's an aging issue in terms of how it is aging. what about existing dreamliners, do they have this problem as well the faa issuing a statement, although this issue poses no immediate threat to flight safety, boeing has committed to fixing these before resuming

deliveries based on data, the faa will determine whether similar modifications should be made on 787s already in commercial service. at this point they do not deem it an immediate flight risk. boeing's deliveries were announced today. this news comes as they had probably their best month, it is their best month since march of 2019 they delivered 45 planes largely because they are starting to increase production and increase deliveries of the 737 max. the max is also the reason that they had strong orders last month. 146 planes remember, you had that big order for more than 200 or 200 exactly of the 737 max don't forget, boeing will be reporting its q2 financials coming up in a couple of weeks that will be when we find out whether or not they have to make some adjustments in their guidance because they will be curtailing production and for now still curtailing deliveries of the dreamliner. timer, back to you. >> phil, thank you very much phil lebeau. the treasury releasing you

numbers on the deficit ylan mui has more. >> reporter: the u.s. deficit plunged as the nation's pandemic spending starts to wane. the deficit for june was $174 billion. that's an 80% decline from the record high that was set during the same month a year ago. year to date the deficit is $2.2 trillion, down 18% from last year both of those numbers do reflect a substantial pickup in tax revenues as some corporate and individual tax receipts were deferred last year they also reflect a decline or a slowdown at least in spending because some subsidies for the ppp program drove down outlays last year. so the growth trajectory for the deficit is slowing down even if the levels remain high. >> thank you very much coming up, a lot of money is being spent on keeping corporate networks safe.

a new crop of stocks could benefit from all of that spending the observability stock play is next. later, the power of podcasts we'll look at which stocks could come out winners and as the content wars heat up. as we head to break, a look at lumber prices which have wiped out all of their 2021 gains. look at that mountain of price in lumber. ♪ ♪ with cutting-edge tech, world-class interiors, and peerless design... their only competition is each other. the incomparable mercedes-benz suvs.

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welcome back to "power lunch. i'm dominic chu. shares of nokia are up big today, up roughly 9% the telecom equipment maker plans to raise its outlook for the full year when it actually reports second quarter results on july 29th, citing a pickup in business during this past quarter. nokia shares are on pace for their best day since april that stock is up 40% over the last three months and up 50% so far this year. that stock, by the way, has been one of the beneficiaries of heightened investor awareness in ways to roll out next generation or so-called 5g wireless technology back to you. my next guest says observability stocks can become the next big growth area in tech these are companies that help keep an eye on the health of a company's network. among his favorites are data dog, dynatrace and elastic

elastic up 67% let's bring in tyler radke how is this different from cybersecurity? >> yeah, hey, thanks for having me so really cybersecurity is looking for intrusive traffic. traffic that might represent threats to your networks, to your ending points observability and what is known as infrastructure monitoring and application performance monitoring is really looking at the performance of underlying applications if you think about an e-commerce example, if an application powering a shopping cart goes down, you want to be able to know and remediate those downtimes so you can keep your business running. >> do you think all companies, this is becoming basically a requirement for doing business in this day and age? >> yeah, i think so. you know, one of the things that we highlight in our observability report was that we think this category of software

investments is going to be increasingly critical going forward. one of the top things that we see coming out of our conversations and surveys of cios is the continued investment in digital transformation. and so what that often means is modernizing existing applications everyone is trying to deliver better customer experiences. and the way that you ensure that those customer experiences are delightful and, you know, without issues from an infrastructure perspective is through monitoring those it's through uses of technology. datadog, dynatrace and elastic so explain to me how do you make money in this business how do you make money? >> yeah, so it's a model that is very similar to a lot of other high growth software areas you know, in software it is

typically the land and expand model. so you have a free trial motion. oftentimes you land in an organization at a very small price point. it could be with the developer ultimately over time you're adding on new applications, different lines of businesses, different use cases, new products and so pretty soon what was an initial $10,000 sale to one developer could be several millions of dollars across a large organization and so i think that is a pretty powerful sales motion and it really shows well in a lot of these observability names. >> you also point out you can't buy them all sp splunk, they have been weighing on a transition to the cloud companies like amazon and google, microsoft which is one of your top picks, they could

add on these kinds of services, couldn't they? >> well, you know, it's interesting. they already do. obviously any time those large vendors are in the market it's something to keep an eye on. but observability really refers to being able to observe everything so microsoft and amazon can give you great insights into what is going on in their cloud. for complex organizations you're running these across multiple clouds, sometimes in your own data center and so their visibility is somewhat limited because they don't have access to all of that that's why we think there's a need for companies like datadog and dynatrace to have that end-to-end observability. >> what did you call that again? >> infrastructure monitoring and application performance monitoring. >> right. >> now i get it. >> thank you very, very much

up next, america's top state for business revealed. our home state, virginia we'll go back to scott cohn for a look at how this year's rankings may shake up the state's politics there's a governor's race going on down there. further ahead, the powerhouse road trip we'll take a look at the housing market in six cities across six weeks starting right now, today, in new york. we will be right back.

welcome back i'm rahel solomon and here is your cnbc news update at this hour americans continue to get back out on the road more and more. total miles driven rose to 274 billion in may that's a 29% rise from may of last year. the biggest gains came in the northeast. now south gulf states from texas to kentucky posted the smallest increases. and in iraq the death toll from a fire in a covid ward has risen to 92.

the prime minister has ordered the arrest of the hospital's director, the city civil defense chief and the director of the province where the hospital is located. and tennis star roger federer says that he will not play in the olympics federer says that he is withdrawing because of a knee injury and that he is, quote, greatly disappointed that he will not be able to represent switzerland and tokyo. he is already working to strengthen his knee and hopes to get back on tour later this summer >> my knee problems prevented me from being in the olympics as well it's tough at this age rahel, thank you. our home state of virginia is name the top state for business for the second year in a row but i think it's tyler's neck of the woods, its proximity to washington, d.c., that might have had a little something to do with it let's go out to scott cohn hi, scott. >> hi, kelly and congratulations to you virginians yeah, the washington, d.c., connection is, look, virginia gets a huge amount of its money

from washington. no state gets more per capita defense funding than virginia does, so when the pentagon does well, virginia does well too we've seen that over the years but that doesn't stop the politicians from trying to spin things a little bit andvirgini is in a very heated governor's race this year g governor ralph northam is barred from running for re-election but he told us that his top state's win is proof that his policies, including a heavy emphasis on inclusiveness, are working formerter governor terry mcauli is running to replace him. he said as governor he created 200,000 good paying jobs, brought in billions in new capital and attracted some of the biggest employers in the country and promised to do it again. the republican nominee is glenn youngken

he downplayed northam's work on inclusiveness. virginia may be number one f political correctness but ranks among the worst states when it comes to things that determine the success for small business and workers and cost of living and cost of doing business virginia comes in 26th for cost of doing business and 32nd for cost of living but the battle lines are drawn in a state that you know is a big political bellwether every year fin find out how your elected officials did at topstates.cnbc.com. >> i love the fact, love, love, love the fact that your survey, the best states for business, is going to become now a talking point for both sides in this race it's going to be a really relevant point as both sides go forward from here, scott >> yeah. and we're very careful about that we try -- we really do try to keep the politics out. we don't know obviously going in

if the top state is a state that has an election that year, so that's one of the reasons that we try to do this the right way. clearly they're going to talk about it and that's why we take it seriously. >> love it scott cohn, thanks ahead on "power lunch" we'll take a road trip across the country to take a look at what cities big and small are seeing in the housing market these days. plus playing pod podcasting saw a massive boom amid the pandemic. we'll take a look at the future of the industry. have we reached peak podcast, when "power lunch" returns icy hot. ice works fast. heat makes it last. feel the power of contrast therapy, so you can rise from pain. zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, feel the power of contrast therapy, which saved investors over $1.5 billion last year.

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crude is getting a pop as the oil market closes today. let's go to pippa stevens at the cnbc commodity desk. >> hey, that's right the pop for crude came during late morning trading and it's managed to hold on to those gains. wti finishing at $75.21 for a gain of 1.5% gain. brent crude at $76.46 for a gain of 1.7%. today's gains driven by the expectation of another inventory draw with traders calling for a 4.7 million drop in stockpiles the international energy agency also out with its closely

watched monthly oil report this morning saying demand rose by 3.2 million barrels per day in june to a total of 96.8 million barrels per day outstripping the available supply the agency expects prices to remain volatile until there is clarity in opec's production policy >> pippa, thank you. a busy day for bond yields which saw a spike after that inflation number, then pulled back, then jumped again after that 30-year bond auction. let's get to rick santelli with the latest. >> yes, it was a two-fer selloff but only the second one stuck. let's put 10s and 30s on one chart. you can see what we're talking about. 8:30 eastern, cpi is hot, hot, hot. market pops. then it loses all its mow me meant -- momentum. nothing like a shunned auction to get investors to pay attention. these are the highest intraday

yields since the 6th of july the same could be said for 30-year bond yields. if you look at the stock market, here's a chart of the s&p and 30-years at 1:00 eastern we captured theic quit traders imaginations. the realism award, after cpi at 8:30 eastern look at the intraday dollar index, it stuck. unlike many who are buying the notion that transient doesn't count, the dollar index seemed to glob on to the notion of higher rates and stuck even higher when it saw the results of the auction tyler, back to you. >> rick santelli, thank you very much. today we begin a brand new series, the powerhouse road trip over the next six weeks we are taking a trip across the country for an in-depth look at what's happening in the housing market. whether it's cities where houses are selling way above asking price or whether inventory can't

seem to move at all. new york saw a massive exodus last year during the pandemic but over the past few months manhattan has seen prices rise back up to record highs. according to may data from zillow the median price in new york is $484,666 inventory for sale, 61,985 units, the highest number compared with 90 other cities. the next guest is seeing a manhattan comeback and seeing many of his listings go below pre-pandemic levels. here for insight is christopher kromer, real estate broker with brown harris stevens chris, good to have you with us. what do you make of the report today that prices are back above their all-time highs is that what you're seeing or are you a little skeptical of that >> well, i'm a little skeptical of that. i think it's probably tilted with a lot of high-end closings.

the luxury market has been booming with a lot of discounts. but the scory that i'm seeing across the board all say that new york is back and people wanting to be here we're coming off a record number of signed contracts in the second quarter what's driving that is buyers are seeing value, they're sensing opportunity and there's a real sense of hope for an economic boom in september when it opens up. but i think for me, the reality is for the most part if you're buying today, it's probably less expensive than it would have been three or four years ago. >> yeah. so what you may be seeing is that the average or median price has gone to a record high, but it may be because lots of luxury properties at the 5 million and up range or whatever it is in new york city are going -- are selling because they have come down, right? am i understanding you correctly? >> 100%, tyler so the reality is what's driving this are more realistic sellers

and softer prices. we still are at near record levels of inventory. so the sellers are going down to meet the buyers at their prices. buyers have options. >> so let's get to your first listing, upper west side, 211 west 71st street it is a one-bedroom condo listed at $849,000. what would this have gone for three, five years ago? >> so some of the last trades in 2016 were 1.15 so we're trading at 30%, 40% below that there's a number of factors that go into that, but there's certainly value there that buyers are seeing. >> so what would this same unit potentially have been priced at a year ago it's now 849 if you were trying to sell it this time a year ago, would it have been below 850? >> yeah. so the apartment right below it

before the pandemic sold at 800. >> so that shows you that the manhattan market is sort of clawing back but is still below where it was as i think a lot of people in manhattan, and i hear exactly what you're saying, is that people are coming back the bargains are there but the bargains aren't as great as they were a year ago. a lot of people moved to brooklyn did the outer boroughs as we call them here, did they hold up better than manhattan? >> much more resilient, much more resilient people were looking for value, for space and less dense areas you did not see the discounts that you saw in manhattan in the outer boroughs. >> let's look at 225 lincoln place in park slope, brooklyn. i lived in park slope. kelly, i can't even tell you how many years ago it was a lot 35 or something like that. tell us about this one and its pricing today versus a couple of years ago. >> sure.

so this is a two-bedroom coop that we brought to market at 949. we had multiple offers going into contract within three weeks at a price about 8% to 9% above the ask. now, i sold this exact apartment three years ago at a price of $900,000, so we're looking at 8% or 9% value above that. >> when i was looking, kelly, in park slope as two-bedroom apartments, this would have been in the late '80s, i was shocked that they were going for $250,000 >> you should have held on to it. >> now $900,000. it's what drove me to the suburbs because i figured i could get more space in the burbs. let's talk about for new york city what is more of a suburban lifestyle and that's queens. what's happening there >> yeah, so we listed this single family house in cambria house section of queens at 550 when i was we were overwhelmed with interest, we had about 50 showings within the first week,

near 20 offers we traded it 10% above the asking price >> 10% above and there are so many great people who come from queens. >> i was born there. >> you were born in queens see? proving the point once again seinfeld, carl icahn, they all come from queens. >> a lot of my best colleagues at the "wall street journal," all queens. >> and they're fun people. they're fun. christopher kromer, i know you're fun thanks for your help today. >> thank you so much. >> if you want to share your own stories about the housing market, whether it's your house or your neighborhood, email or tweet us we might make a pit stop to share yours. >> and we're going to keep showing that graphic we're having a lot of fun. airbnb is getting a big upgrade today. the shares are still down 2% they're lower on the year. the stock is up big from the pandemic bottom as the reopening has taken hold and our traders will discuss whether to buy it next. plus lithium stocks are

soaring with the etf up 30% this year on the dot. we'll look at the names wengpori the ev revolution, after this. keeping your oyster business growing has you swamped. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

welcome back to "power lunch. i'm frank holland. verizon and mastercard announcing a new partnership to further digitize the $50 trillion consumer spending market with touchless options. the two ceos speaking with cnbc about the increased security of 5g payments and how it could be touchless retail as merchants face a labor shortage. >> you can use this system to make much more simple ways of transacting with your customers and that's of course what we see with touchless, coming from the covid i think we see much more touchless. >> both ceos hope to have new 5g products for consumers and retailers by 2023. kelly. over to seema mody now for trading nation. >> kelly, air bbnb getting a rae

double upgrade to buy. the firm seeing improving trends particularly in europe analysts citing slow return to the office with companies ad adopting a hybrid model and that could incentivize folks to travel this fall in comparison to its fast-growing challenger expedia, todd gordon is here and gina sanchez. the data, gina, those vacation rental demand very strong this summer why do you think airbnb has underperformed in 2021 >> well, that's because it just faced the mother of all stress tests and it is offering growth and therefore isn't necessarily a value. the trade for the first half of the year was growth at a reasonable price that's what expedia promised and they delivered that. the trade for the second half of the year is growth and that's really what airbnb is setting itself up for. so if you're looking forward rather than back, then you're

looking at opportunities that provide significant growth and that's really where you have to look at airbnb. >> and to get more growth, todd, both expedia and airbnb have launched different marketing campaigns. which one would you be a buyer of right now >> i like expedia right now. vrbo didn't report how much revenue vrbo contributes to expedia but there's reason to believe it's as large as expedia. so i believe that the technical position of airbnb is struggling, trying to hold that $145 ipo price while expedia is moving nicely higher expedia, if it could break above 160, that looks really good. i think with the delta variant starting to gain more attention, i think people are starting to look to go to all house booking rather than individual hotel rooms of airbnb. we just booked a trip for park city, utah, all vrbo

much better options than airbnb for the whole house bookings. >> more diversified play versus a pure play on vacation rentals. todd and gina, thank you for more trading nation head to our website and follow us on twitter. tyler. >> thank you very much, seema. speaking of travel, tune into "squawk box" for an interview with marriott's ceo at 7:45 a.m tony capuano spotify betting millions on the future of the podcast market and one analyst is bullish on the stock. we will speak to that analyst, next. and now the latest from trading nation.cnbc.com and a word from our sponsor. there's a classic investmen thesis called the dow theory it says the transportation stocks can either confirm or deny a broader market trend. but it's important to remember the transports can be sensitive to changes in oil prices and other market influences. so don't rely exclusively on

this theory when making an investment decision. i'm randy frederick and schwab is the better place for traders.

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welcome back podcasting in the u.s. continues to grow its audience

28% of the u.s. population over the age of 12 listens to podcasts at least weekly can a growing audience translate into real cash flow for the audio players? two of the biggest names are moving in opposite directions this year. spotify down more than 15% while iheart media has nearlydoubled our next guest says podcasting may be at an inflection point so who is best positioned joining us is ben swinburn ben, it's good to have you first of all, what's going on with iheart media shares this year, is that podcast driven >> hi, kelly, thanks for having me on. iheart has certainly benefitted from the growth in podcasting. they have changed their disclosure so there is a greater ability to see that business in their reported results, but probably the biggest driver is this really strong u.s. ad market and the recovery we're seeing in the overall economy and overall advertising, which is driving their stock this year

probably the biggest driver was a strong u.s. ad market that we're seeing in the overall economy. put differently, many would argue, and i think ben thompson has argued they are likely to be the organizing platform, i heard talking to people five, ten years ago talking about there's mo money in. that's definitely property true anymore. as we think about them today, they're threat 15 years old, but last year ad revenue was probably -- it's browing, but it's still small oy think spotify is positioned well, with the investments they have made, but there's a lot of work to go done.

they have to drive ad tech innovation, increase the amount of content on the plats -- and they're not the only ones investing, but they have the ought i don't platform with the greatest scaling have i got that largely right? that's how the money goes? >> largely yes the vast majority do not directly own or license, so the revenue they can generation on on originals and exclusives, but we think the original, which grew 20% last year, was at a point, where we'll see an inflection in adoption, from fairly niche to mainstream we'll see more advertising money

flow in. if you look at the cpms, they're multiples of radio. >> if i subscribe to spotify, i have access to its platform. i pay my $9.99 a month so i'm going to give a son of a niche, a model that i was talking to a friend of mine, we all have these subscriptions maybe we have a spotify, an audible, a youtube subscription. i have my subscription to the "new york times" web side. who will take ought of those and bundle that content into one product, one product, where i get all of the content i want? >> well, that's a longer conversation for maybe another. >> it feels genius to me. >> yeah. >> ultimately i've got all these

subscriptions -- >> but mine are different from yours. >> yours are different i have all of these things i'm paying for let me pick two newspapers, three podcast providers, and two music services, and a tv, and then i'm set >> yet, simplify. >> what about that damn it, ben >> if i could solve it for you, i would do it immediately. i think you are recognize what a lot of consumers are feeling, which is a complete overwhelm ing subscription overload. i think in the audio space, it's spotify's to lose. >> you, me and kelly, were going

to come up with this product we're not going to work another day. [ laughter ] >> thank you very much, man. >> all right thank you. apple, goldman sox reportedly planning a buy now/pay later service. that is sending shares of fintech lending firm affirm lower. apple declined to comment. up next, these stocks are lit. lithium going a big boost from the renewable and battery --

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the push to electric vehicles has create add huge surge in demand to lithium, providing investors with a way to bet on evs without betting on the car makers kristina parts does that inevelos joins us. mining company lithium america and livein corp jumping quite dramatically over the past month. 20% of year to date, so what the heck is going on this after the biden

administration reiterated the goal to come from renewble energy by 2030 currently the u.s. only generated 20% from renewable that means in the next ten years, the administration plans to quadruple their use of renewble energy. this is still a big issue, because it would require a lot of subsidies, and those have not passed through congress. yes, the sector a is booming, h how do we do it if we continue to provide the subsidies many of these companies donnell even have free cash flow. >> where does lithium, who owns

it >> bingo a lot comes from china. >> we do bring in a lot, which is also part of the let's bring it here get it made here >> thanks. thank you, everybody "closing bell" starts right now. i'm coming to you live from the goldman sachs hq, where we have an important interview with the chairman and ceo of gold man s goldman sachs. both stocks trading lower. his take on earnings and economic outlook is just moments