trading range ahead of what is a very busy week busiest week in terms of s&p earnings, that two-day fed meeting, which kicks off tomorrow, a ton of ipos including robinhood this week. we saw record highs for the s&p and the dow though energy is leading the pack, up 1.8% in terms of sectors that's going to do it for "squawk on the street. "techcheck" starts now good monday morning. welcome to "techcheck. i'm carl quintanilla with jon fortt and deirdre bosa coming up, chinese stocks fall as officials impose sweeping recession lagss. sparing no sector of the market. plus, bitcoin briefly breaks 39k with help from amazon and

robinhood on pace for the best day now since may. and tesla kicks off a big week of earnings for tech the chip shortage in focus while they prepare for production. >> welcome back. we start with the sell-off in chinese stocks the government crackdown on business now expanding to ed tech and food delivery the recent curves on ride sharing and music fintech and gaming, tal and new oriental education both down more than 10 10% today. after shifting to a not for profit business model. those are profitable models. such a move will shrink the market by 76%, regulators also saying there that online food platforms must pay workers at least the minimum local wage shares of meituan did not take the news very well and ride sharing company didi, take a look, keeps getting

clobbered, down more than 40% since its u.s. debut on june 30th this morning atlantic equities downgrades the stock to neutral saying the range of outcomes leave us unable to recommend the stock until there is more certainty. if you've been invested in chinese internet stocks, look at the broad group. down 28% in just a month it is lower -- has been under performing all year. and, guys, while some might be tempted to see this as a buying opportunity, that note really says it all, with china, it is really difficult to know, jon, when regulators are satisfied or even the motive. we have been talking about the personal data protections and the implications there, but part of this is political too especially when it comes to those ed tech companies. a lot of blow back, anxiety for students, cost for parents, the one child policy now expanding. >> and that's a great overview, and, carl, as we look at this, it reminds me of what we so often say with u.s.-based stocks

and the need for certainty around certain factors, whether regulation, government policy, what's happening in the global economy with these chinese stocks and businesses. it is just unclear at least from where we sit here what the endgame and the overall driving fl philosophy is. who is in the line of fire who is on dangerous ground and how do they get off of it regardless of the ideological or political stance that you hold as an investor, you want to know that, right? >> yeah. i mean, d. points out this downgrade of didi at atlantic. you can hear in the text of the report analysts themselves kind of searching for answers as to where this all ends, though they did say, d., we keep our overweight on baba and tencent where risks appear manageable and both could benefit from neither cooling in competitive intensity. who knows when that is coming around, jon. >> yeah, and so now let's bring

in our eunice yoon who joins us live from beijing. what is your sense is there a theme running through these announcements that we have seen that had such big impacts on these stocks, perhaps closing a rich/poor gap or trying to appear that wealthier entrepreneurs aren't taking over the narrative of the chinese economy? >> i think that would be an overarching theme, that you are seeing in this effort. but i think also within each field the purpose of these tactics are really very different and very specific. so, for example, what we're seeing right now in ed tech is an effort -- the stated goal is to try to bring costs down for a lot of these parents but now there has been a lot of complaints and debate about whether or not that's actually going to work. there are several parents who have been complaining and saying

actually even kthough it sounds good that this will help encourage us to have more children, it actually just makes our costs more expensive because instead of paying for a class for after school tutoring, now i might pay a private tutor to come to my home, which could be triple the cost. so that's been raising a lot of speculation that perhaps among investors that perhaps the end goal there is about a political control and trying to make sure that there isn't a whole lot of forward influence in the education or to have a lot of private ideas entered into the minds of the children in china so that's -- you know, that's one of the big questions there but then you have something, for example, in the internet industry and, yeah, unveiling different rules and that's -- the endgame could be different. >> exactly and carl referenced this a few moments ago, is their thinking

the two elephants in the room, alibaba and tencent, the tech giants, they have not been immune from the scrutiny but is there a sense that perhaps for them at least when you do see them working more and more with the chinese government, whether on digital coins or ant group, an alibaba affiliate, do they -- you get the sense that they may be at the end of their rope in terms of the punishments that they could see? >> it is very unclear because we keep hearing about all these different punishments. for example, over the weekend, tencent, which up until only a couple of weeks ago people were saying, hey, the founder of tencent has been doing a good job, really laying low, he's always -- he's known as being somebody who is, you know, very quiet and not very public on a lot of these issues, not critical of the government or anything like that, but now tencent and tencent music got

punished over the weekend, slapped with a fine that was a minor fine, onlily le only $80, driving home the point that the tech companies cannot have a dominant position, even, for example, an area that is kind of growing and does have other competitors, such as a liv streaming music. >> yeah. well, we, of course, covet your insight as more of these actions take place and more news comes out. eunice, thank you. joining us now to weigh in with more on this, former cisco systems ceo john chambers, john, you went through your share of headaches and trials over chinese policy and regulation over at cisco. how does this latest round of shifts and changes in regulations over in china look to you and what do you expect the impact to be with u.s. companies and markets?

let's see -- do we have john's audio? let's try to get john's audio back d., you know, the fact that eunice was able to put some of this in context around the chinese government trying to send a certain message to the mainstream, and perhaps also assert control, what's interesting -- i think we might have john chambers audio back. are you with us? >> thank you my mistake at my end it is great to be with you, with carl and deirdre again i've been doing business in china for 40 years, i'm on the eighth five-year plan they have, the five-year plans actually say where they're going to go. for first 30 years it was a win-win mentality. i did a joint venture with lang laboratories there at cisco, even though negotiations were tough, it was a win-win mentality and we workedthrough all the issues

the last ten years have been a change it has been more of a win-lose and with the chinese government wanting to influence more control, not only over the american high tech companies operating in china, but the chinese startups, et cetera. i think it will probably get a little bit tougher before it gets better. i think the real clear message is they are sending a message to their established companies and their startups, you got to get our permission, we'll give you certain guidelines you can play or not and if you get out of line, we'll bring you back into line very quickly. from my own perspective as i shared on you last time we talked on this, jon, i'm encouraged in my startups not to do business in china or i'm not invested in chinese startups at this time. it is too unpredictable as one of your guests said earlier. i bet what's going to be the results five and ten years out do i think this will eventually correct? yes. i don't think it results in the type of cold war that some other people are referring to. but i think it will get bumpier

before it gets better. >> does it put chinese companies at a disadvantage as they try to amass capital in order to compete on a global stage? or is china just big enough that despite the fact that it might kneecap a company now and then to try to assert its control and message, you know, the money that is spreading around the world in order to garner influence is going to protect this company as well >> it is somewhere between the two, jon i think that's the right way to frame the question on the positive side, they are going to be the largest economy. i think that's a given therefore they have the economic strength to implement one of several different scenarios. on the negative side, it will slow investors and be willing to share innovation and concern about, you know, in technology, intellectual property capabilities so i think it will slow their tech industry and the growth would it be interesting to see the real winner in this is

probably india in terms of perhaps emerging into the best technology place to invest in asia for new startups. >> jon, it is carl it is hard not to hear your comment about getting bumpier and wonder what that looks like. how do you think this gets inflated and what would the -- what would the effects be on not just chinese equities, but overall capital markets here too. >> i think it is important to remember in china, whether you're a company or a government interface into china, predictability from the outsiders perspective is key and i think the general rule of face in public and criticizing private is very appropriate. in terms of the challenges i think the challenges will make it more difficult for american tech companies in china, and i think it will be more difficult for the chinese tech companies to move with the predictability you need you know what it takes ten years from the time you form

a startup to the time you take it public. i think the challenges will be there. some of the other issues which i think may be of interest, carl, is cybersecurity becomes even more of an issue and more of a concern if a government exercises a large amount of control over their tech industry and that's one of the reasons i think cybersecurity is probably the second most hot issue in terms of technology growth in the market and right behind artificial intelligence. >> good morning, john. it is deirdre. have you seen any indication that beijing could turn its scrutiny toward american companies? it seems the opportunity is there, particularly for companies like apple and tesla that get a lot of their revenue and growth from that market and even when you look at how badly u.s. sanctions have hurt huawei, another one of china's biggest companies, though not public, there was no retaliation against apple. >> well, i think it is in the u.s. and china's best interests on both sides to create a

win-win. it slows both economies down if there is too much friction i think that chinese leaders are sending a message they're going to exert influence over their own companies, but also the american companies in china, and i think the major thing for an american company doing business in china is the reasonably level playing field. they'll never be perfectly flat. is it reasonable are you sure you got your intellectual property protection in place and is it worth the investment versus the unpredictability on the risk it is why as i said earlier, for the first time in my career, 40 some years of doing business in china, i'm moving my investments in china to the back burner. easier for a small investor to do that, but it is not a trend you want to see on a larger scale. >> a lot of people and companies doing that recalibration, i imagine. john chambers, thank you. >> thank you very much, guys. talking about ed tech in china, let's talk about ed tech closer to home

duolingo, the language learning app, scheduled to ipo this week, just upped the price range from 85 to 95 to 95 to 100. $100 per share would imply valuation of $4.6 billion. it is the top grossing app in education category in google play and apple app stores. plans to list on the nasdaq under the ticker duol. we look forward to speaking with founder and ceo luis van an sometime after that goes public. interesting guy. >> yeah, indeed. looking forward to that. look at bitcoin, it is surging back the cryptocurrency shooting higher over the weekend, amid news perhaps lots of news but one of the pieces is that am done is looking for an executive to develop the company's digital currency and blockchain strategy one report takes it a step further, london city am citing an insider claiming the tech giant is interested in accepting

bitcoin by year end and potentially developing their own token by 2022 with jeff bezos himself leading the charge remember, he hasn't stepped away, still executive chair. not everyone, though, in crypto, is heading to the moon federal prosecutors announcing this morning that they're probing tether executives, the stable coin tether, for bank fraud, which we'll dive into later this hour. there is a lot of headlines. don't put too much emphasis on the amazon news, interesting and could move the market, but the result of this piece, from two of the most popular crypto platforms, ftx and binance, they're curbing the leverage that traders were able to use, and that could ultimately lead to less volatility in these ma market carl >> yeah, jon, i wonder what your thought was on that amazon piece. i mentioned with cramer earlier this morning we haven't seen it matched by any other news organizations and i don't know, does it run afoul of what we know about amazon's discipline to let a story like that slip?

>> the part that is weird to me, carl, is that if you were really amazon planning to roll this out at the end of 2021, would you just be hiring your project leader now and would you roll something like this out at the end of the year, when q4 is -- that's the playoffs, that's the super bowl for amazon wouldn't you wait until january, february, when things calm down a bit to roll out something like this and beta form test it out and have it all set by the second half of the year? i don't know seems a little fishy to me we will see. >> we indeed we will still to come, robinhood, bets on re tail investors as it prepares to go public. more details from their weekend road show straight ahead "techcheck" is just getting started.

let's get a gut check on zoom b of a names it a top pick, says the company's merger with 59 is a game changer for the sector and with $5 billion in cash, operating margins in the high 30s it has more opportunity to do m&a and outspend competitors. zoom is the biggest gainer this morning, moving better than 2.5% >> meantime, robinhood teasing retirement accounts and crypto

trading during their ipo road show kate rooney has the details. a fair amount of randomness in that ipo road show as well, like what's your favorite planet? i just googled, pluto is still a planet, i don't think it is. >> it is not i'm told he was joking about that one the astronomy question fell out of the blue and they did get to pick those out of thousands of questions. we did get hints about the future of robinhood toward the end of that virtual session on saturday during q&a with customers. vad saying the startup is considering expanding into retirement accounts with i.r.a.s and roth i.r.a.s he also says they're working on cryptocurrency wallets, so customers can hold their own digital assets robinhood executives talked up robinhood more as a single money app as they described it, not a brokerage firm and they focused on areas outside of trading including adding more savings and spending products

executives also highlighted those as ways to diversify the business away from transaction-based revenue. that makes up more than 80% of revenue for robinhood. pavement for order flow came up a couple of times. cfo jason warnick saying if regulators go so far as to ban that practice, robinhood and the rest of the industry will adapt and, quote, will explore other revenue sources. the management team shows the questions as you mentioned, they say they have thousands of submissions, also appeared to be reading from a teleprompter during q&a they picked one question that had nothing to do with the ipo robinhood is setting aside up to 30% of the shares for retail investors. the company is expected to list on the nasdaq this thursday. guys, back to you. >> kate, thank you reading from a teleprompter, is that so bad? i don't know thanks speaking of that long awaited robinhood ipo, let's

bring in mkm partne partner rohip concarney. what is this company really going to be when the dust settles? so much of the surge in growth had to do with the kind of risk-chasing activity that even robinhood doesn't seem to expect to continue. they're talking about savings and retirement accounts. >> look, i think all the fintech companies want to chase a couple -- square or paypal, they want to use their user base and engagement with the user bases to add on more layers of growth, add on more layers of modernization. robinhood has first foot in the door whether they will be successful and how that modernization is to be seen. i think there is going to be a lot of choppy trading near term.

i feel similar to themany -- there is going to be near term choppiness, but if you are a believer of how millennials will behave for the next two to four years, then there is probably an opportunity. but near term, i think a lot of people on wall street are going to be wary of this >> rohit, the company is talking about i.r.a.s, talking about encouraging financial literacy, investors to hold on for a longer term. but that's not how they make money. their revenue comes a lot from crypto and options traders do you think that investors considering this ipo understand that dynamic is it sort of conflicting for robinhood to talk about these trends, longer term holding, when they do make a lot of their growth through shorter term trading? >> yes, there is issues here in

my opinion one is a conflict of interest. and then there is a perception of lack of disclosure, lack of transparency i think if anyone saw the road she on saturday, the cfo tried to answer that without giving a very clean answer or giving very clean explanation about what the future business model will look like if payment is under more scrutiny i think in the meanwhile, i feel a lot of believers will want to hope and pray there is no clear disruption in the near term. so that is what they would have them believe they get about 2.5 cents for every $100 order if you believe the argument this is a good thing for small ticket orders, which would have fostered a lot more than 2.5

cents for every $100 i think near term i think you need to believe there is no disruption longer term, let's hope an pray they are more levers >> rohit, you've done some work here, you point out they're coming to market at a time when the street is really building in models that look at serious deceleration in comps among its peer group and i wonder how you think that might affect early trading once it becomes public. >> in my opinion, i feel people need -- for this company too after the fact that they have crypto in there, for example, almost -- coming from a single currency, so i feel as you look ahead next couple of years, this is probably going to lapse significantly. that's going to add to sentiment

on the stock a little bit. so long as you can look through the tunnel, i think right now people are willing to look through their tunnel to a certain degree right now we feel this company is -- if this company grows more than next year, if they can provide some level of confidence, they can do that, on top of very tough comps right now, then this is an opportunity. right now from what we see, it is going to be a really hard sell >> yeah, well, we will see how that early trading goes in a few days rohit, thank you very much for being with us. ro rohit kulcarney. tesla reporting after the bell today we'll break down what to expect. and bitcoin, really close to 40k late last night. stay with us

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welcome back to "techcheck." resetting at the bottom of the hour in just a minute, we're going to break down what to expect from tesla when they report after the bell first, a news update with rahel solomon. >> good morning. here is what's happening at this hour new home sales posting a surprise drop in june falling 6.6% flat home supplies and high building material costs continue to fuel price increases. the third consecutive monthly sales decline. may figures were also revised lower. shares of hasbro surging 10% the toymaker doubling quarterly profit forecasts up by strong marriage continues in rising digital sales. lockheed martin one of the biggest losers in the s&p 500, down 3%. a rare operating charge in its aeronautics unit causing concern. that's despite raising full year earnings guidance. a $30 billion merger has been

called off they have scrapped their deal to create the world's largest insurance broker last month the justice department sued to stop the merger, shares of aon up 7% now. willis stock is down 7%. e you're up to date, back to you. tesla set to report earnings after the bell tonight shares in the green today. cathie wood argues the wall street doesn't understand tesla's long-term potential. joining us this morning author of ludicrous, the unvarnished story of tesla motors, ed myers with us. welcome back. >> thank you for having me >> it is going to be an interesting print, given all of the signs we see of encroaching competition, lucid trading today, watching mercedes what do you think they're going to say what do you think they need to say? >> well, i think they need to shore up some confidence around

the -- what's happening with the 48/60, their new battery form factor, their new structural path, there is a lot of questions about that they raise a lot of hype about that around battery day, and the signs that we have gotten -- the guidance we have gotten is a little bit hard to read. so i think that's one area, and, then, of course, just europe is on fire right new. both how things are going there and what the plan is besides building a factory we heard sort of, like, the idea this factory will sort of solve all their problems in europe and they really need to make sure they're making the most of the market while it is as hot as it is. >> their standing response to any sort of competitive question for years now has been, look, the more entrants, the better, it feeds awareness, it feeds ad aadoption. as we start to talk more and more about share, i wonder which competitor are -- would be competitor you're watching most

right now. >> well, lucid just went public and i think they're one that i watch for a while, because i think they have an interesting positioning in terms of being very similar to tesla in a lot of ways but being more of an unabashed luxury brand a lot of people who buy tesla are buying for the status and with tesla, they get the status, but they don't get the comforts and the creature comforts that sort of a luxury car buyer is looking for. so i think it is interestingly positioned there but having just sort of -- our first chance to look at the eqs, i think that that is actually going to be a really, really tough player in this sort of premium and increasingly luxury ev space, just because it brings so much to the table that mercedes has and that startups can't really compete with. >> right, but, ed, you're talking about models still unproven lucid ceo couldn't or wouldn't, you know, confirm manufacturing targets for this year or next

year and then, you know, you also looked at the problems that gm has had with chevy bolt. tesla is on the road, increasing, what makes you think that the competitors are really open the heels of tesla when they're still unproven >> listen, i think because tesla has pulled off what it pulled off over the last decade or so, our entire expectations around startup car companies are different. i think the auto industry, we t typically gave any form of startup long odds of even getting to production, right and now with tesla, you know, we see that's possible. it can be done, startup can come but i think also if you look at the history and i was just reading timhiggins' book comin out, it was a great reminder that tesla had to do so much, they had to pull off so many tricks and bend so many rules and it was such a chaotic thing

to get to where they are today i think it is important to keep that in mind both when you look at tesla, you look at the numbers, you have to remember all these details of what they had to do in order to pull these numbers off, but then also applying them to the startup competitors. that's also why i think mercedes is scary, eqs has a lot of things that we're seeing from the startups in terms of a fresh platform, clean slate approach to the product, and also the resources that mercedes-benz has and that makes it really formidable. >> it seems like tesla has this advantage that maybe we don't talk about enough where it is luxury yet attainable. my kids -- my oldest is barely a teenager, they know who elon musk is. they don't care about a mercedes there is a halo effect going on and investors haven't brought tesla to this point based on whether it does the blocking and

tackling around a particular vehicle launch it is more about that overall brand strength. >> yeah. absolutely and right like for years now, you know, tesla had all of these really fundamental challenges. again, you look at what has happened behind the scenes at this company and have the sources telling you what things are really like, it is easy to be super pessimistic, they have been doing a tight rope walk for so long. in the outside reality, you look at the atmosphere of public perception, they have done an amazing job at building this really powerful brand. now, i think that the challenge here is that, you know, tesla only has so many tricks in its bag of tricks. you see now with the refresh model s this is not a vehicle that looks that much different than it did when it came out in 2012 so they don't have the resources to completely reinvent that flagship vehicle all the time. where as mercedes really did, they didn't just take an s class and put some batteries in it they reinvented a brand-new

vehicle for that electric flagship and i think that's, to me, you know, sort of the sign of how does now tesla keep up with that and i think in particular you think about things like full self-driving, a really toxic drive on the company's perception and faith in elon musk in particular which so essential to that, i think there is some real challenges. i would not expect the same kind of smooth sailing they had so far, even in the realm of public perception. >> yeah, interesting, we're going to find out what advantages some of these legacy oems may bring it bear as this fight continues. great stuff. good to see you. thank you so much. >> thank you for having me, carl. and we talked about cybersecurity names earlier on in the show with john chambers palo alto net works and z scaler from buy to hold says splunk is better positioned vendor to benefit from changes in the security software spending space take a look at these shares, lower today. more "techcheck" after the break.

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money market funds, the compa comparing coin mechanism or

product to a money market fund if they were money market funds they would be regulated that way. and maybe regulators in the future determine they are. but as of right now they haven't determined that. and so i'm not here to kind of serve as the defender of any of these platforms. >> that was pomp investment on the scrutiny of the reserve's backing stable coins, including tether they are not held to the same transparency standard as money market funds for now, but as we have discussed here on the show, officials are increasingly calling for more regulation of stable coins and tether back in the headlines this morning as bloomberg is reporting that tether executives could be facing a criminal probe into bank fraud we reached out for comment but have not heard back just yet reminder, tether is the third largest cryptocurrency by market cap. some 6 $3 billion worth in circulation and it is trading volume is nearly double that of bitcoin. in that live stream last week that we have been referring to,

tether executives, they were evasive. we didn't get any answers about what makes up their commercial paper, a majority of the reserves or when we might finally see an audit have a listen. >> our portfolio contains international commercial paper as you noted, from our public disclosures, is overwhelmingly rated a2 or better we think that's the key thing here we think that transparency with the market and how the market has spoken and decided here is what's really important. >> so, jon and carl, scrutiny of tether has been on the rise for years now, but it has just become so much more popular. its role in the crypto economy so much more critical over the last year or so. $63 billion asset now. and still a lot of questions around it, such as is the commercial paper from china, is it from different countries, and

that's important for us, financial reporters, that look at this market, but anthony made the point as well, it may not matter to the people who are actually trading tether, using it to trade bitcoin and other cryptocurrencies and that's why we haven't seen any movement this is the stable coin. still worth about 1 u.s. dollar because of the function in the economy, but the story is far from over. >> yeah, as you have zeros in on your reporting, if there is systemic risk within crypto overall, from tether, it is important to focus on understanding because people don't care about it until they have to care well, as you have seen, "techcheck" doesn't start at 11:00 and doesn't end at noon every day. you can get more exclusive content online tonight i'm doing a deep dive after the intel accelerator technical event. pat moorehead will join me to quiz sanjay on the company's competitive position you can see intel there up about

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taking issue with the company's bandwidth charges using aws's own price calculator and they estimate that american, canadian and european customers pay 80 times amazon's cost of operation. they also note that amazon only charges for data transferred out of their network, accusing the company of keeping prices high because they know it is hard for customers to leave, writing so much for being customer first. prince will join us on "techcheck" to discuss cloud infrastructure and how smaller businesses can compete with the likes of amazon and microsoft and they are competing with amazon and aws as well all of this in perspective >> indeed. we talk about competitive regulation and antitrust and all of that, but it is good to have smaller companies at least arguably trying to keep prices at aws and other companies in check. >> yes, indeed and as we look at how cloudflare tries to compete and just

internet infrastructure overall, so many companies have come to rely on it when there are outages like we have seen at times, it becomes business news. >> yes and there is more competition than ever as well. to carl's point, you're seeing more and more of the small companies speak out against the tech giant, whether it is google search or amazon aws, matthew prince, a few weeks ago, he tweeted out in defense of shopify saying, you know, to toby, trust the real rebels like at toby, the ceo of shopify, never trust amazon it is becoming increasingly popular or perhaps comfortable, jon, for these smaller companies to speak out and perhaps get the attention of regulators. i'm sure they know what they're doing. >> when you're the lead dog, you take shots, for sure meanwhile, we're going to head to break major averages all in the green, but barely a lot more "techcheck" straight ahead. stay with us

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joining us is dr. oslin terechi.

thanks for joining us. tell us how you think mrna can succeed here when we've seen so many try and fall short in malaria. >> thank you for having me mrna technology has experienced a baptism of fire with the covid-19 pandemic and the success of being able to develop a vaccine there. and this context we have learned a lot how to use this technology to address difficult pathogens with regard to inducing very important immune response. and we think that this potency of inducing a response can be also used against the malarian pathogen this together with the fact that it could show that the manufacturing can be upscaled

easily and development is fast is very good path forward also for malaria. >> another part of your efforts here in malaria are to establish vaccine manufacturing production in africa. there has been so much focus on this in terms of vaccine access for covid-19 what is the pace of being able to establish this manufacturing footprint there and could it help with covid? >> yes, absolutely in principle, it's sort of the contrary the covid-19 vaccine driven establishment of manufacturing cap capacities in the african countries will help to prepare for the potential malaria vaccine. and with regard to pace, we try together and this is a joint

effort of many parties, including, for example, the w.h.o., the foundation, the african cdc. we try together to be as fast as possible, and ensure that technology transfer with all its multiple layers, including, for example, educating the required workforce, establishing the infrastructure, finding facilities which already have the quality which is needed. >> it's important. i want to ask you also about the covid-19 vaccine that we currently have some evidence emerging from israel suggesting immunity starts to wane perhaps about six months in. how are you looking at those data and how immunity is holding up with the covid vaccine? >> yes, we have to continue to collect the emerging data and it

is emerging fast israel has been one of the first countries basically which started early and had a high immunization rate also very early on it's important to take the signals we get from israel as serious but also continue to collect further scientific data from our other colleagues. >> all right dr. tureci, thank you for joining us we look forward to seeing all of the uses for mrna. >> thank you >> thanks. >> and meg, thanks for bringing that to us don't forget to subscribe to the techcheck podcast. catch us everywhere you get your podcast. techcheck is back after one last quick break. hey frank, our worker's comp insurance is expiring, should we just renew it? yeah, sure. hey there, small business owner. pie insurance

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ugh, these balls are moist. or is that the damp weight of self-awareness you now hold in your hands? yeah (laugh) keep your downstairs dry with gold bond body powder. it is a big week for tech earnings and earnings in general. a note that last quarter big tech names brought in over $300 billion in q1, a 41% increase over the same period last year per reuters, the faang names stood at 25% of the s&p 500's

market cap we'll be looking out for quarterly ad revenue growth and daily active user names for facebook a lot to look forward to this earnings season, guys as we await those numbers. tesla tonight and much of those big tech names coming up throughout the week. definitely peak earnings season but amazing when you get these giants thrown on you look at the lineup for tuesday and wednesday night. >> i'll be handling microsoft and qualcomm this week microsoft really curious about those overall enterprise spending trends by geography, as well as cloud capital expenditures that has implications for a lot of names in the sector and qualtime we've got a new ceo. he's been there for a long time. we'll see how smartphones and the overall chip market, if they can continue to outpace the supply issues. >> i'll be looking at alphabet and amazon, covering those names closely. carl, the fundamentals, i heard a few analysts talking about it.

the fundamentals are strong when you think about the so-called fourth industrial revolution bethe big tech giants at the forefront with that amazon headline if tends up being true or not but looking into crypto, they're at least looking into it that will be interesting if they mention anything else. >> jpmorgan says the peak in uk cases may be behind us speaking of which the judge has timely let's get to "the half." >> i'm scott wapner. front and center, what might be the biggest, most important week of the summer as the fed meets and mega tech companies begin reporting their earnings tomorrow we'll debate what's really at stake for your money and tom lee who will be along in a few minutes. joining me today, brenda vangelo, jim leventhal and steve weiss. we look at the markets there is the dow good for about 28. s&p 500, a fractional mover higher nasdaq higher by about 1