>> freeport. the start to reverse back higher, the volume in the commodities picked up, i think goes to the old highs. >> you're going heavy in these commodities. you talked about cleveland cliffs i'm going to call you heavy metal weiss. >> there you go. how did you know. >> that does it for us "the exchange" begins now. thank you, brian hi, everybody. i'm kelly evans and here's what's ahead this hour another day to kick off the month of september investors ahead of the big jobs report on friday is tapering still on or not? we've got strategies and names that are paying, are cheap, and are apparently fed proof and if hiring is slowing, why are so many big companies going on major hiring sprees we tally the thousands of new job openings nationwide. apple is hoping to be your one-stop medical and financial

hub, is tiktok killing facebook, and what kathy wood means by transparency >> kelly, i mean investors and traders are maybe on edge but they're not on edge by that much yeah, the market's kind of in the green right now, but the nasdaq composite hit a record high today, another record high, another day, another record high the s&p 500 right near session highs. this is about the high of the day so far at the lows of the day we were up roughly 2 points. call it relatively flat. stel a third percent gain for the s&p, close to a record and the dow is about flat on the day. it seems good heading into a big jobs number. one of the themes paying out over the course of the pandemic until now is the reemergence of value oriented companies, not necessarily large cap tech that's reversed itself over the course of the last three months. look at this invss coe qqq trust, tracks the 100, the small

cap etf. small cap is flat over the last three months the s&p up a respectable 8%. but mega and large cap technology and media technologies are lapping the field over the last three months that teles you something about the overall market theme megacaps are back. we'll see if that trend continues. for the stock of the day, check out the moves in the chinese internet stocks. pin duo duo is up, bay due up 5%, and jd.com up 3% and crane share is up 5.5% right now. there seems to be envvalue buyig for context, between mid february and mid august, this etf lost almost 60% of its value. it is up since then about 24%. it just goes to show you a lot of ground to make up in the green for chinese internet >> a notable bounce for a tough sector markets, like dom said, are

growing higher as the growth picture darkens somewhat tight supply chains, rising inflation, the delta variant and timelines are weighing on investors' minds which stocks are relatively impervious to these kevs he's looking at names that are cheap, have fallen out of favor and can't be hurt by the fed allen, it's great to have you back tell me what you think markets are going to look like here in the weeks and months ahead what -- friday's going to be a big number with the jobs report. >> absolutely. first of all, thanks for having me and you summed up the thesis and what's going on right now. we've had a really heavy market. this is the year where stocks have been on fire. we've had 31% of the days this year the s&p has hit new highs that's a really, really strong market and so it's created a tough time because when you're looking for value, when you're looking for stocks, there's so many stocks that are overvalued, so many stocks that, you know, you

really want to buy but the price is just too high so, i think there's a couple names out there that are overlooked that in the last three months have not done well. and those are the types of the stocks i'm looking for right now. >> fedex, activision, blizzard, citizen's financial. let's start with fedex why is this stock out of favor >> yeah, so, i think, you know, fedex, for one you've got to realize that it's all about earnings expectations moving forward, right and they haven't been incredibly rosie with regards to what they expect in the future but at the same time, you know, when i think about all the bad things that could happen, when i think about covid and everything else, you know, fedex, i think, is kind of impervious to a lot of that, right you have sitting at home ordering stuff, whether you're at the office or at home, it's become convenient to order things online. and i think fedex is being a part of that distribution chain of getting things through

ecommerce to your home i think it makes it, again, a stock to buy i mean, the stock's trading at 12 times next year's earnings. it's a very cheap stock, and i think it'll be around. i think it's a good play >> i should emphasize you're looking for dividends here as well for those kinds of strategies, which normally are attractive in a low rate environment which we're stuck in that's why i want to ask you about citizen's financial if there's any sort of -- people invested in the financials and concerned about their performance. can fedex and citizens do better does it need a higher rate, factors that would make it more of a head wind for fedex >> i know you asked about both, but citizens is now not because of the macro headline. citizens is down because of their acquisition. any time you see a big acquisition, typically the buyer goes down and the company being acquired goes up and they just announced a big

acquisition of investors they bought the east coast branches of hsbc earlier this year because of all that m&a, that's one of the reasons it's down so much right now but this is a bank that is trading at less than book value. it's done pretty well this year, but, again, in the last 90 days the stock is down about 12%. i think i see a lot of value there. i think they're positioning themselves very well just to compete in the east coast, especially >> you know, as i ask you about your final pick, activision blizzard, it is funny to hear guys from momentum advisers talking about value stocks t it's almost as if your best advice is to be wary of the plays here >> we just thought it was a catchy name. >> that has become a much bigger theme in the last few years. finally tell me about activision blizzard >> activision again is one of those stocks that in the new post-covid world where there's the hybrid of pre-covid life and

post-covid life, folks are staying at home or they're still playing their games. and i'm not a big gamer, but i've got gamers in the house and they've got some titles that are huge titles. and they're evolving and i think they're positioning themselves really well despite what happens with the delta variant. also a cheap stock, surprisingly activision blizzard trades at under the market multiple. the stock market trades right now at about 22x times next year's earnings and activision is at about 20 1/2 times a little bit cheaper than the overall market they've been growing their dividends by about 15% a year. and i think that's really key. as that company becomes more mature, they're going to pay out more in dividends. >> oits a great point. i'm glad you're emphasizing the factors you're looking for and the names we might not have been thinking about allen, great to have you thank you sir. meantime let's turn our attention to the latest in new

orleans. officials in the southeastern part of louisiana are warning of a weeks long recovery after hurricane ida left more than a million customers without power. the latest on restoring power and sending out supplies, frank. >> right now we're here in east new orleans, this neighborhood one of the few that have their power fully restored if you listen -- if i'm quiet, you can even hear the air conditioning is back on. and take a look at this. this right here, this neighborhood, this house, this is literally a bright spot in a very dark time for the city of new orleans. about 985,000 people in southeast louisiana are still without power and they're still without air conditioning as the temperatures are right around 90 degrees and the humidity is right around 90% entergy, the local utility says it could take weeks to get power restored cnbc got a drone view of one of the many transition towers knocked down during that

category 4 storm, also workers manually running cables across poles. the labor intensive work requiring the utilities to be shutdown about 20,000 utility workers are surrounding states are expected in the coming days to assist in restoring power. that effort appears to be working. however, we spoke to other people in this neighborhood. they say they evacuated. they don't have any plans to come back until more stores are restocked and more gas stations have fuel. obviously people who live here with the air conditioning and lights on, they're just overjoyed. >> when the electricity came back on, i was so excited. i actually screamed, wow the lights are on! and he was, like, coming down the stairs so excited. we started texting all of our friends at 1:30, quarter of 2:00 in the morning we didn't care we have lights, exclamation mark, smily faces. >> we're all going to be trying to get the same thing.

so, by me having children and i'm able to stay away and be evacuated, i think that's the best option for my family right now. >> but, again, the vast majority of this area in the city of new orleans still without power. and in addition about a half a million people under a boil water advisory in this area due to power issues at water treatment plants earlier today i spoke to the superintendent of new orleans police he says that the city is advising people who evacuated to stay away at least for now until things stabilize so, certainly a developing situation here in the new orleans area kelly? >> frank, we also continue to hear and see gasoline lines and shortages with a lot of gas stations in the area still lacking supplies what can you tell us >> reporter: kelly, we've been to a number of gas stations. those long lines you've seen, we showed you yesterday, they're still continuing a lot of people are out of here trying to fill up their tank to get out of town or fill up their generator to stay a few more

days until they can get out of town but that situation does not appear to be resolving itself any time soon. i spoke to gas buddy.com yesterday. he said the gas stations don't have the power to run their pumps. that's why they don't have gas and in other cases, some of the downed power lines and downed trees are stopping gas delivery. he expects that situation to continue at least for the next few days but the one possible bright spot here is that the colonial pipeline has resumed deliveries and other methods of getting gas in this area, they are presuming. and there is an effort in general to get gas to this area because a lot of people wanted to get out of new orleans area into what they consider safer places >> the price of gas is actually down today, perhaps a little bit of relief there. frank, thank you very much we appreciate it frank holland, as the lights go on in part of new orleans. next on "power lunch" we'll speak to the port of new

orleans. what impact is the delta varpt having on the job market we'll dig into the data. cyber stocks are coming off an auspicious august sentinel one are up almost 15% is cyber becoming the new growth trade? we'll explore that after this. >> announcer: this is "the exchange" on cnbc. thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab.

in business, it's never just another day. it's the big sale, or the big presentation. schwab! the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

welcome back, everybody. there's been a stampede of companies all of a sudden looking for tons of new workers. let's begin with fidelity. they're looking to hire up to 9,000 workers by year end. why? to keep pace with the surge in demand for stock trading meantime, walmart, the country's largest employer plans to hire 20,000 workers ahead of the holiday season dollar general is looking to hire even more employees after reaching its previous goal of 50,000 workers before labor day. then there's amazon. ceo andy jassy telling reuters they plan to hire 55,000 people for corporate and technology roles in the coming months that 55,000 is more than a third of google's total head count as of june. it's nearly all of facebook's 58,000 employees so, why is new data telling us that hiring is slowing in recent

weeks? steve liesman is more on the delta's impact on the labor market and kristina partsinevelos has more on the survey on the struggle to find workers steve, let's start with you. >> kelly, thanks yeah, at least the data is showing along with high frequency jobs data suggesting the delta outbreak is sapping some of the strength out of the market adp coming in at disappointing 374,000 for the private vector that compares to expectation of 600,000 in the forecast for the private sector and the government of a robust 720,000 coming this friday job gains we're seeing in most sectors just not enough to meet expectations for another strong report adp said delta has made a dent in job growth and other data backs up the delta connection. hr software company finding work falling 2.4% nationally through

mid august growth declined at august regions, but fell hardest in the southeast. that's where the delta variant has been the most widespread home base and other high frequency data we follow shows declines in leisure and entertainment, another potential sign of the delta variant at work economist at goldman sachs tells me e learned the delta variant is exerting a larger drag on services and the labor market than we initially expected goldman looking for below consensus 600,000 jobs this friday it may be that the fed has confidence that it's seen the worse economic effects of the virus before announcing the taper. >> speaking of the taper, we have goldman taking down the estimate for friday's payroll number we have other traders saying if it's a disappoint could push the fed to delay the taper you have to wonder, steve, if markets are saying they're loving it either way

either we're strong enough to warrant taper or weak enough to push it off and we're back in the risk on environment. >> i think that's the heads i win, tails you lose flip of the coin i think that's right and i think by the way, if the fed tapers, it wouldn't be the end of the world for stock market or earnings or gdp either i think there's a third way the market can win here. i think it's a little more concerned about the taper and/or even rate hikes than it should be because you would think in a normal environment the federal reserve would not have to be buying $120 billion of assets every month or keep interest rates at zero. >> steve, we appreciate it thank you very much. let's turn to kristina partsinevelos with the survey results that suggest c suites attitudes are changing optimism is pretty good. >> i think, right? employers are bowing down to workers in the hottest job market in decades. hybrid work schedules, college

tuition, anything to get workers on payroll businesses are still struggling to find those workers. when we conducted this survey back in q1, 19% of cfos said it was harder to fill open positions. now 69% of those surveyed fall into that category, which is why many of them are coughing up the dough. a majority say that they're company is experiencing rising wages, including nearly 90% of u.s. cfos surveyed we know there's a resurgence in infections driven by the delta wave of the coronavirus, but that could discourage unemployed people from returning to the labor force. and even though a majority of cfo's have mask mandates, especially in the united states, but the situation right now is the post-labor day weekend return to the office appears to be falling apart some like google, ford, lyft have all pushed back the return to office start date to 2022 and nearly half of all cfos in

our survey say they have delayed return to office plans and one quarter have mandated all employees be vaccinated in order to return to the office. the resurgence of cases is casting uncertainty on future plans yet again, and it's making it harder and harder for employers to find workers. that means the road ahead is going to be a little bit longer and bumpier than originally hoped. >> i guess the glass half full way to look at this is at least they're still trying to hire the big scary concern would be suddenly the demand side of the economy slows. if they're frustrating finding workers, at least it suggests the businesses are still going strong >> it is an interesting point given there aren't enough workers. it shows a lot of people may be retiring or still opting to not return back even without the benefits given from the government t"the wall street journal" says

they are not seeing job growth many are hiring. how do we move forward force the vaccines do we have to force booster shots? many people don't know what the right move is. >> and how it will feed into the number we get friday morning thanks very much for the full results of the third quarter global cfo's council survey, you can head to cnbc.com kathy wood snapping up shares of two tech companies that posted big drops. we'll reveal the name. and the red hot tea market, is it showing signs of life again. >> ether also used in involvement of buying assets, it's spiking just in the last few minutes. look at this chart here, ether up 8% around 3,700 it's hitting the highest level since mid may. mot ren atn stth iju a ment

the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq

welcome back to "the exchange." here's a quick check on markets right now, which are still tracking gently to the upside. dow up 5 points, s&p up 13 a lot more gentle for the nasdaq which is up .75 of 1%. quickly show you shares of work house group. the stock is hitting session lows after the s.e.c. opened investigation into this company. workhorse shares are down 2% right now. kathy woods new etf. that is all ahead in today's edition of rapid fire right after this in 2016, i was working at the amazon warehouse

when my brother passed away. and a couple of years later, my mother passed away. after taking care of them, i knew that i really wanted to become a nurse. amazon helped me with training and tuition. today, i'm a medical assistant and i'm studying to become a registered nurse. in filipino: you'll always be in my heart. (vo) at t-mobile for business, unconventional thinking means we see things differently, so you can focus on what matters most. whether it's ensuring food arrives as fresh as when it departs. being first on the scene, when every second counts. or teaching biology without a lab. we are the leader in 5g. #1 in customer satisfaction. and a partner who includes 5g in every plan, so you get it all. without trade-offs. unconventional thinking. it's better for business.

you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

welcome back to "the exchange" and here's what's happening at this hour i'm rahel solomon. defense secretary austin says he will always be proud of the role the u.s. played in the war in

afghanistan. he also thanked the american service member who is fought there. he says the u.s. is working to shore up allies around afghanistan and that he will travel to the persian gulf next week on "the news" tonight the transition of afghanistan from a military to a diplomatic mission. president biden condemning new abortion restrictions in texas and pledging to protect abortion rights. he says that the law, quote, blatantly violates the constitutional right to abortion established in roe v. wade dozens of cars are in line for gas. gasbuddy says about half the gas stations in new orleans and baton rouge are out of gas and the new orleans saints are moving their season opener because of hurricane ida the team has been practicing at the cowboys stadium in dallas. they will play their first game of the season in jacksonville, taking on the green bay packers. thank you very much. let's catch you up on a few stories that should be on your radar. it's time for rapid fire here to break down the

headlines, julia boorstin, steve coe vac, and marianne montaigne making her rapid fire debut. it's great to have everybody here welcome. >> thank you >> first up, kathy wood is doubling down on tech innovation and buying on the dip. she snapped up more than 157,000 shares of zoom and 36,000 for arc's next gen fund. zoom, remember, was down 16% yesterday on slowing earnings growth in q2, down 12% so far this year. it's up today, by the way. wood also scooped up 260,000 shares of robinhood for the ark fintech fund hood is down 7% over the past week, up about 2% today. marianne, is zoom or hood in the marianne montaigne etf >> no, not at all. first of all, the beats on estimates have become smaller and management's guiding earnings down. we're not buying on this recent pullback at 22 times sales -- i'm sorry,

18 times estimated 2022 sales. >> it's not 18 times earnings. it's 18 times sales. that's a very different story. >> yes, yes, yes >> steve coe vac, what would you add? >> we know kathy wood likes to buy on the dips. it's the hyperpandemic road makes the comps look really bad and shares get punished. even amazon experienced it in this last earnings cycle >> julia >> i think the question, is this a different type of dip? is this a dip reflecting stulkt structural challenges for zoom and robinhood? if you look at the legal challenge to robinhood, you think payment for order flow if that is indeed restricted or banned, that would have a fundamental impact on robinhood's business model for zoom, not only was this a high flier of the early days of the pandemic, but there are questions about what kind of

competition it faces for microsoft, google and others >> sure, and marianne, let me circle back to you if these names aren't attractive to, what would you be sticking in the portfolio right now >> we still like facebook. we think that that double digit growth and the digital ad market is very strong we're looking for total overall 20% revenue growth and earnings growth about that. and it's selling at 24 times earnings so, that still looks very attractive to us >> you're not going to like our tiktok story but we'll come back to that in a moment. ark invest is providing it's own spin, transparency etf will include mostly tech. also apple, chipotle and tesla if approved it would be arc's second etf launch this year following the space and flagship the etf is struggling for gains

after the 150% jump last year. this one is just interesting to me because it does exclude gambling, which is becoming -- gambling is an odd one because it's thought of as a vice. but sports betting is becoming a huge emerging trend. it gets lumped into an innovation a fund like kathy wood would be in for do you encourage the sort of proliferation of these kinds of investing products or do you think that they're confusing to investors? >> well, first of all, i've made a lot of money in vice, but it all depends on the definition of vice so, when i look at esg, i'm looking for something that's going to make me some green, right, with my green investments. and i think that there is a very big concern around transparency. but coming to the rescue are the big four accounting firms and bain and mckenzie consultants. so, they're coming up with this international sustainability, the standards board, which is

due to release very shortly and give us comfort in that area i don't think we need to completely go to no vice >> no vice julia, the reason it's called a transparency etf even though it's an esg play it sounds like they're separate but overlapping issues, but it's all being lumped together here >> i think increasingly people are going to want to have transparency about what counts as esg >> right >> and if you have companies like netflix, apple and chipotle, which are included in kathy wood's other etf, the question is why is that necessarily the right thing right now for an esg angle she is following the money and there's a lot of demand for investment opportunities in esg plays. >> i almost want to ask steve if he thinks gambling and sports betting should be a vice bet but that's an ethical question to put on you.

>> i'm not one to weigh in on the ethics of gambling what i am worried about as the states accepting gambling, especially to make up for the pandemic losses on the tax base, you've got to wonder if these apps are going to get more scrutiny as they get adopted more we heard the gamification of buying stocks, turning it into a game what happens when draft kings and all these other apps get the same kind of scrutiny? they're going to look at every pixel of these apps to make sure they're not encouraging people from betting more than they should >> absolutely. they don't want the gamification of investing, but betting itself is fine. some inconsistency, but we'll come to find out as more and more people get involved let's circle back to what we were just saying about facebook and tiktok facebook has the upper hand in this fight for digital ad dollars. tiktok users are the most receptive to ads of any platform, including google, including amazon, including

facebook it's leading the pack for the second year in a row and rosen block securities downgraded, calling 2022 an unavoidable inflection point as ad revenue slows amid rising competition. julia, i'm not sure if personal experience confirms that people are -- i think people don't like the ads on tiktok is what i'm trying to say. maybe it's just us >> well, that's -- well, katie, i would say that's not what the data says, kelly i think if you lock at this really interesting data f, they found there are places people are more and less receptive to ads. people are receptive to ads on tiktok and this idea of ad receptivity is a really important piece here instagram was in third place, google fourth place and twitter in fifth place interesting that facebook of course did not show up in the

top five facebook, which has been doing great throughout the pandemic in terms of growing its ad pricing, the question really is going forward whether its users are less receptive to ads, especially considering the head winds that it faces from apple changing its ad targeting rules. >> does it mention why you think facebook is an attractive stock, you like its ad growth so, does this make you nervous as an investor >> it doesn't because facebook together with google really dominate the digital ad space. and the others we're talking about are very, very small shares of the marketplace. so, we think they'll continue to dominate and if you don't like the ad, you just scroll up >> but you know it's just a margin if you've got ad dollars going to amazon and tiktok and some extent even apple, we had a segment about how apple wants to grow its 'tissing. doesn't that at the margin chip away at facebook's growth, potentially preventing a risk to the stock? >> possible but very small risk

to me. and things are changing at facebook all the time to improve. so, i'm not going to be concerned about that >> improve, catch up, copy cat even they've proven pretty good pivoting as they need to be. finally today, apple's grip on our lives is growing a little bit tighter. more than half a dozen states have signed off on allowing driver's licenses and state ids to populate inside the apple wallet arizona and georgia are first. six others will follow and w"wall street journal" is reporting that apple is reporting more features for it's watch, including a blood pressure tool and a thermometer. i'm very excited about having my license in my apple wallet why should i temper my enthusiasm >> i think you might have seen me say this on twitter earlier today. >> uh-huh. >> i'm less excited than you are. i'm fine flashing my phone to a tsa agent right now, which is all this can do. if a cop pulls you over and they

have this id on your phone, they're not going to be able to accept it. handing my phone over to someone, even if it's at the supermarket if they need to check my id against the credit card or something like that, there's just something weird and personal about having my phone handed over to a complete stranger, let alone law enforcement. go ahead >> so, hold that thought for a second because it seems to me there's no way apple wants us to hand our phones to anybody with the facial id and all the other privacy features built in, won't it be the case that they -- much like when you're at the grocery store now, they want to scan my whatever, i just hold the phone up and they put the phone through this glass right now the only reason i carry my actual wallet around is for the driver's id and maybe my employee badge i can't wait to do away with those and just carry just the phone around >> yeah, and it seems very useful it's not just the id they're doing. they're adding car keys to the

apple wallet as well so, you'll leave your car keys at home. pretty soon the only thing you'll need to be able to carry around is just the iphone. that's exactly what apple wants you to do. >> there's no way you're going to hand -- if i handed you my photo, you could go drive my car. they've got to come up with a way around -- >> well, for that -- well, they have that. you can share the key digitally with someone in that case. you don't have to hand your phone. >> very, very interesting. marianne, let's get you in here. what are your thoughts about both of these initiatives by apple today? >> i think it's part of an overall refresh cycle, including that iphone 13 that's coming very shortly and these other futures on the watch are just awesome you're going to have to carry your phone plus a recharger because if you can't charge it when you need those things, you're sunk. but just looking at the promotions that we're seeing from the carriers that's going to drag demand, and we think the stocks not cheap at 24 times forward earnings but this is a very high-quality

name with some very good growth drivers despite tough comps after the pull forward in demand we had due to covid. so, we continue to like it >> julia, quick, last word >> i'm excited to have everything in one place on my phone, but they will have to extend the battery life so you don't have to worry about losing access to your driver's license or your keys because you haven't plugged in for long enough >> i know someone whose keys died the other day we had to give them a ride home. julia boar sten, thank you all for this edition of rapid fire societal transformation. shares of crowdstrike are falling despite earnings beat. is this the canary in the coal mine for cyber we will explore that next right after our break.

growing up in a little red house, on the edge of a forest in norway, there were three things my family encouraged: kindness, honesty and hard work. over time, i've come to add a fourth: be curious. be curious about the world around us, and then go. go with an open heart, and you will find inspiration anew. viking. exploring the world in comfort.

♪ you probably think visa is a credit card company, huh? ♪ but it's actually a network. ♪ connecting just about everyone to just about everyone else. ♪ it can open eyes with a cup of coffee and change minds on what makes a business, a business. and it is working to connect everyone, everywhere. so, meet visa. a network working for everyone. ♪ welcome back, everybody. shares of crowdstrike are falling about 10% today despite

earnings beat and strong guidance august was great for the cyberspace overall z scaler, fortinet, palo alto networks also climbing 13% to 17%. my next guest says stick with the space, maintaining cyberspace is a top pick brent, it's good to have you there's been a lot of hacking headlines, but we've had that for years. >> hey, kelly. i think the ongoing digital disruption -- we're in a work from anywhere environment. if you look at our firm, we sent 4,000 people from multiple offices to 4,000 homes, and crowdstrike is helping protect our organization many other companies are doing this, so this environment where the vices are magnifying, you're seeing more assets move digital and the number of hacks is up, you're seeing an incredible need to protect yourself in these companies. so, what we're seeing is a

layered defense mechanism. there's not one vendor that's going to be the end all be all so, they're on us on the inside. you look at a company like crowd flare, the ticker's net. they help protect the crowd and improve and reliability and speed of the network, another company we really like in the space. so, i think there's a cyber bas basket that folks need to own. we didn't know this, but the group is up close to 40% year-to-date ultimately we think the tail winds are still there. and increasingly as we go digital that's going to be a needed protection as we make that move. >> so, if these were the new soldiers, if you will, in the work-from-home era, who was formerly guiding things at the work site? who is losing shares at the

expense? >> if you look at crowdstrike, their main replacement today is semantic and mcafee. those are getting replaced at an alarmingly high rate they have been the losers. there's been two winners with crowdstrike and sentinel one both on the endpoints on the up and come you've seen on the network how often networks do very well. we think other vendors like cisco and shack point to some degree against palo alto in each of these subareas you're seeing winners and losers and there are multiple subcategories of cyber this is why we're advocating there is no microsoft or google of cyber there are a layer defense model that has to happen so, we recommend owning the best in each of those layers to help investors. >> and you mentioned several of the names already. so, i imagine that's kind of where you would tell people to go what are the big risks here.

it feels like often in the past we would talk about cyber stocks not working. there seemed to be a general sense of it wasn't clear they were demonstrating results have we seen a shift in that area to proven reliability >> i think so. and i think part of this has, again, been driven by the pandemic and kind of this globally diverse work force that we have. and then you're seeing we're not entrusting the local bank or we're putting our assets in bitcoin and other digital currencies so, i think ultimately what's happened is the shift to digital has created this need and the threat actors, the ransomware attacks are down massively that all makes sense these companies are producing great growth with margins. if you look at crowdstrike, for example, 70% growth in increasing margin structure. you know, they're doing it with a good bottom line as well as

they can continue to grow. so, i think it's changed again, the biggest risk for the group is valuation a lot of the stocks have worked. you've had big moves, and you continue to see more and more ipos coming to the market. and there's a backlog of a number of names that continue to access the market. >> that's a great explainer of how it's a work from home trend more than anything else. speaking of which, nfts are back they were back above the billion dollar mark in august. we'll tell you what's driving the rebound next remember you can catch the show any time and anywhere by listening to and following "the exchange" podcast. we're back in a moment

ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change.

planning can't be that easy. actually, it can be, carl. look forward to planning with schwab. schwab! ♪♪ in business, it's never just another day. it's the big sale, or the big presentation. schwab! the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

welcome back after exploding in popularity this spring, the nft market cooled off a bit through early summer the market's residual assets are seeing a major resurgence hitting almost $2 billion in sales last month compared with about $150 in margin, only $8 million in january the bounceback in crypto prices plays into the move as nfts are bought and sold using etheether.

it is back to its highest levels since mid may. last night it was revealed a prominent collectedor paid nearly $300,000. i think it was returned or something like that. joining me is the ceo of nft trading platform artifacts it's great to see you. every time i turn around there's another headline what's going on here >> kelly, thanks for having me when i was last on in june we were pulling back from the sale and now we are here and have a $3 billion month on our hands. >> it's a huge number. we had $3 million months or weeks to start the year off. we have reports visa is buying some assets in the space, that people joke about why are people buying the dumbest clip art but paying hundreds of thousands of dollars for it what's the real value? where are these memes piling on

and why do people view this as a place to store wealth? >> art drove the first surge this surge was driven by collectibles but what's the meat, the value there? it's digital identity. it is and will be quite valuable from avatars to immersive vr experiences. >> you talking about the idea as we enter these digital arenas there's an opportunity for a land grab now that can give you valuable assets in the world of the future what would you say to those who say i don't want to get involved this sounds crazy? how would you distinguish be nfts from having genuine staying power versus a passing fad >> it's new. here is a good analogy that rolex that you might wear on your wrist.

why do you value that? it's worth something to identity, to status. it's the same thing in digital as we step into, again, these experiences that i don't know we can dispute will be part of our favor. people want those rolexes or those pictures or shirts or back packs just like they do the, quote/unquote, real world. >> sure. final advice, i would say from your point of view as the expert you said art was the first and then collectibles. how big could it get who are the players now? what should we be watching >> let's watch the rush of the athletes, thecelebrities, the influencers. this market is new but established enough people see it people see the relevance look at mike tyson coming in and pairing with a digital artist, the tom brady company pairing with simone biles. just this week actually, yesterday and tomorrow, to bring

simone into the space, pairing it with access to simone biles which is an interesting concept. look for the big household names finding a way to come into the space. >> roger, thanks for joining me. quite a turnaround from the last time we spoke. roger dickerman. a key component that once had support across the democratic party is facing resistance now we have all those details next that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing,

but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum!

you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

welcome back to "the exchange." the tax reform that should have been a layup for the biden administration is dealing with pushback led by a former democratic senator robert frank joins us with that story. robert >> reporter: well, kelly, biden's plan now facing attacks from small business and, as you mentioned, democrats biden has proposed getting rid of the step up in basis and for

those who make more than a million dollars a year coalition of farmers, small businesses and other lobbying group says it would force families to sell to pay the tax and that tax could be over 40% leading the charge anda new ad campaign is former senator heidi heitkamp . she says they should not pay until an asset is actually sold. >> i'm trying to sound the alarm both economically and politically for democrats this is not a path to walk, which is taxing unrealized gain the disruption this would create for small businesses and for farmers and for family assets is just not worth the pape. >> reporter: biden's plan dot exempt family farms and business that is continue to be owned by those families it also allows 15 years for families to pay those taxes on

businesses not exempt or being sold the white house saying only the richest .3% of taxpayers would pay the tax but, kelly, that number, too, now under dispute back to you. >> let's take the example of a dry cleaning business started by parents who pass away. would that likely be taxed under this proposal? >> absolutely. if that business was valued depending on whether it's a single person or a couple. there are exemptions that it has to be worth more than $2 million or even $2.5 million to be subject to the tax let's assume that business or chain is worth more than $2 million. yes, that family would immediately pay a tax on the value over $2 million they inherit it even if they don't want to sell it. >> again, i think that's why you have senator heitkamp saying this could be politically damaging, right? >> reporter: it's a form of a

wealth tax because tax on unrealized gains is a form of wealth tax talking about stocks which go up and down a lot every year, you would pay a tax on a high basis when they inherit it there are all kinds of issues similar to a wel tax here. people say, look, fine to get rid of stepup in basis but let's not tax an unrealized gain until it's actually sold and there is a gain >> robert, thank you robert frank that does it for "the exchange." "power lunch" starts right now not a muscle do not even blink, ladies and gentlemen. welcome. i'm tyler mathison new highs for big tack tech, nasdaq, google one guest says buy small caps and another says it's time t