i'm curious. >> if my kids will eat them, i'm all in. >> you're sold. >> yeah. compared with the chips or whatever we ate for dinner last night. thank you very much. we appreciate it kate rojers with the latest. that does it for "the exchange." thank you for tuning in. don't go anywhere because "power lunch" starts now. good afternoon welcome back to work, ladies and gentlemen. welcome to "power lunch. a market divided in one corner speculative fever in the other a focus on fundamentals. how should you invest in you may find the best clues in the bond market and the post labor day trade. jobless benefits expire for millions of americans. two stops could get a boost from the job market shift a top analyst will name names. and bitcoin's pull back. the price plummeting on the same

day that el valve door becomes the first country to adopt it as a national currency. we'll dive into why in a few minutes. >> thank you that's quiet the story, everybody. here is a big check on midday markets. dow down 185 points. s&p down 8 nasdaq hanging on to a 31-point gain and fnotched a new high bitcoin is seeing a huge reversal today down about 10% by this measure it's about 17% lower from where we were last night it's bounced back a little bit but a lot of selling hit and picked up speed as we moved throughout the mid to late morning. ether down 13% today or about $500 apple at all-time highs. they're expected to unveil a new phone next tuesday shares up 1.5% to $157 now to the tug of war on wall street a number of pros are anticipating a pull back but others are embracing risk in

speculative corners. mike santoli has more. >> reporter: yeah. steamed like a two-track market in that sense. many wall street professionals are at least on guard for some kind of turbulence in the fall obviously built up a 20% gain in the s&p so far this year i would say the market action itself has been on the defensive side we've rotated away from the most cyclical risky stops the leadership has been more in the quality and secular growth areas. it seems as if these market rotations are very much still tethered to the fundamentals the market is not even up as much as earnings forecasts are up this year it would suggest it's making sense. however, as you know, i mean, along the fridges of the market, there's a persistent speculative flow in things like crypto, nfts, stock options from retail traders. there's a stock of the day so the question is can they remain separate? does it mean the core of the

market is insulated from whatever excesses might be built up there hasn't been a overshoot in terms of sentiment or aggressiveness or in terms of evaluation in the core of the market and i think the question is, you know, might it change? might we get some kind of bleeding over or some of this activity as risk appetites perhaps continue to flourish right here. >> thank you very much let's ask the question and get answers on how does one invest in the push/pull market the next guest said look to the bond markets we'll bring in jim paulsen, michael farr welcome. jim, let me begin. why are bonds the key predictor, if your view what have they told us in the past what are they saying now >> some ways, tyler, they've one of the best predictors

bond marketed started to fall in 2020 of february they continued to do it over and over again bond yields peaked out in march of this year and that was the economic momentum will moderate to some degree and there was a big leadership in cyclicals and smalls back to tech and growth and then bond yields collapsed in july and that was telling you that the delta variant was going to slow us down, which has happened and growing concerns about growth now the bond yields are going back up again and they've made their biggest move off the early august lows since they've been coming down. and this year and i think they're signaling that the delta variants is about to peak. when it occurs, we'll see confidence rebuild again we'll see economic reports

improve, and probably we're setting up maybe for another sort of minireopening sort of replay cycle here again maybe in the balance of the year. >> and yet neither of you would be terribly surprised to see a correction intervene between now and year end michael, tell us why you feel that way, if, indeed, you do i think you do, at least partly. >> tyler, i always do i'm always waiting for a correction and this, you know, this market has been a long time without any significant correction every time we go down 3 or 4%, there's an enormous amount of liquidity now. enormous cash on the sidelines $4.7 trillion. they're waiting to buy everything that seems like an opportunity. the other thing that kind of has me a little more sanguine about any significant correction is so many people are looking for one. so many people are worried about the difficult september and

october. markets typically don't really start to have a significant pullback when everybody is looking and worried. right. markets climb. jim, i think, is right the longer you've been on wall street and been an investor, the more attention i think wise investors pay to the bond market and the yield on that 10-year treasury if you back to 1987, for that big stock market crash, bonds fell apart in august stocks fell apart in october i don't see that i do see reasons for caution and as much as i hope jim is right, i think, too, maybe the bond market is listening to the fed and we listen to what jay powell said he sounds a little more dubbish. it could be that the fed is a little longer on the sidelines yields are drifting a little bit higher, and everybody is going to kind of keep their powder dry and make it through the fall the debt ceiling and what happens with the variant of

covid. >> jim, how would you translate it into stock picks or positioning more broadly speaking >> you know, kelly, great question i think at this point, i'm not sure that the -- i agree with michael. we could have a correction at some point i totally agree with that but i think what investors should do is focus away from that and focus on what i think is going to bement bigger issue i think we got the makesings already of a leadership shift again. you know, we've kind of gone from when this bull started it was all growth, tech, then it went to cyclicals and smalls and then tech growth i think we're headed back again toward cyclicals and smalls. if delta does peak, that's going revive a lot of confidence again. a sense that we're reviving again and now we have a more vaccinated population than ever. we're going to soon get a bigger swath of the kids vaccinated again. we're going have this great big

supply of unemployed people coming back to the labor force in the fall. all that will give a sense of rebirth again in a second round. and just like the first time around, when covid peaked big for the first time, we declared victory. i think we're going to go back to cyclicals and smalls and international stocks so the important thing, i think, is not whether you're in or out of the market as much of which way you're tilted. i think you want to be tilted toward cyclicals, smalls, international, and away from growth. >> all right michael, i'll get you to react one of your key phrases is that quality rewards patience when you say quality, what kinds of stocks -- what are the attributes of quality and give me some names. you can even say johnson & johnson, if you want to. [ laughter ] >> i thought i wasn't allowed to say johnson & johnson again. >> the get out of jail free card. >> this is it. i got it when you look at quality, look,

balance sheets and cash flow not too much debt. strong returns on equity these are the sorts of things that keep good companies solid through difficult times. they're so easy to forget when the market just keeps going straight up. and you just want to get on board with whatever is working now. everybody wants to worship at the church and what is working now. it's fun when it's working when it's not, it's devastating. so i tend to like what jim is saying the cyclicals and smalls. i would also say basically the value names i would add in with jim's names. so take a look at a day like today and take a look at what is maybe not working. i would look still to like a cvs here 10 times earnings. 10%, 11% earnings growth 2.3% dividend. a name like truest it's a bank. it's the old suntrust. that merger is coming together nobody likes banks right now anymore.

i like to find things that are solid that people might not like as well. i didn't abandon the big teches with cash flow and strong earnings i wouldn't give them away. i think they operate very well i would say a diversified approach of solid companies with good balance sheets and wait for a long time. you'll make money. >> thank you very much we appreciate it. >> thanks. >> you got it. we have a news out of washington a fight to avoid a government shut down, it's that season. elon has the story >> reporter: the white house is now calling on congress to pass a short term funding bill to keep the government open after the fiscal year ends on september 30th now the administration did not say how long that stopgap measure should last but more time is needed to reach a bipartisan agreement on a appropriate funding levels the white house is also calling for congress approve money for two special items as part of the bill disaster relief and afghan aid

acting budget director is urging congress to appropriate $14 billion for natural disasters that occurred in the last 18 months before hurricane ida. another $10 billion, at least, is likely going to be needed to deal with the damage from ida itself in addition, the white house is calling for $6.4 billion in humanitarian aid and evacuation and relocation assistance for afghans. as a reminder, congress must pass the funding bill to avoid a government shut down the white house is essentially now acknowledging a stop ggap measure is the only way to get it done in time. they want to leverage the moment to pass the afghan aid. >> thank you very much coming up, bitcoin prices rattled at the same time el salvador adopts it as a financial currency hurricane ida is a huge disruption to the oil market a look how it's affecting ppsuly and demand

more "power lunch" straight ahead.

wanting investors to get into bitcoin dom has a look at the latest online campaign. >> crypto currency prices are lower almost across the board. all of this is coming despite the fact that there is a campaign by many bitcoin supporters to try to get folks out there and buyers in the market to all buy $30.

just $30 worth of bitcoin to help commemorate el salvador's new law making it and the u.s. dollar legal tender in the country. it's a grassroots appeal by a social media and the international chat rooms, as you mentioned. it was possibly meant to trigger the buying wave to help inflate the price of bitcoin the opposite is happening today. with the likes of ethereum and a lot of others under heavy selling pressure now it comes, though, amidst a time when earlier today, kelly, bitcoin prices topped $52,000. almost got to $53,000. >> right. >> so you wonder where that selling pressure really did come from especially with the kind of campaign to get everybody involved. >> how are we doing on the exchanges? you know the different platforms where people can buy them? >> there have been reports of sporadic delays or latency

we heard some of the platforms are getting unusual amounts of pressure it's maybe not without surprise. we've volatility in the past coincide with massive surges in trading volumes. when those trading volumes get to a point where they can whoever whem the platforms that's when you see the delays happening. now we saw it happen earlier on when a wave of selling pressure made it so some people couldn't get out of positions we'll see if that happens this time around. but for right now, it seems adds though it's more stable than in the past but still some complaints out there, kelly, and the fact some people can't get out of their positions. >> yeah. the deluge of orders and people trying to get out. thank you. we'll stick with the topic el el salvador the first to put bitcoin on the balance sheet the government announced it purchased 400 bitcoin an additional 150 coins this morning. if you recall, last month we spoke with the ceo of strike about his involvement in el

salvador's movement on bitcoin he was very involved in getting this off the ground. and i said to him what would you stay to skeptics who say that the el salvador government basically is trying to play you. here is his answer. >> here is the reality, how about someone try to be the sitting president of a central american country like el salvador how did you deal with the asinine monetary expansion that is happening in banks now. how do you deal with the fact over 70% of your citizens don't have financial access, don't have basic human freedoms and cannot live a high quality of life i think what they are doing is tremendously brave and they're the first of many. >> again, jack's strike. we'll bring in mckenzie for more how is it going so far actually down there in el salvador today? >> hey, kelly. bitcoin now on a level playing field with the u.s. dollar in

e el salvador. from today, in theory, you can use bitcoin to buy virtually anything we're talking a coffee from mcdonalds with, a haircut. it's possible because a key part of the new law actually requires businesses to accept bitcoin it also strongly incentivizes the population to take part in the bipt coin economy by offering them free bitcoin just for signing up for the government's official virtual wallet but not everyone is excited about this nearly 70% of the population surveyed last week said they don't support the move we saw street protests in the capital on friday. not to mention the fact that both the imf and the world bank have been vocal skeptics of the adoption citing worries it may fuel money laundering. they're concerned about bitcoin's volatility and how it may ultimately jeopardize the country's economics stability. >> are people tieing together the adoption of bitcoin in el self door to the price action today? does it have more to do with the

platforms and the people trying to buy the $30 in bitcoin in tan team with this what are you hearing >> some people are just writing it off as wales coming off the long weekend and taking profits. others say maybe it has to do with the rollout of the new government-run bitcoin wallet. it ran into launch issues overnight and temporarily disabled earlier today in order to increase the capacity of its servers. but we were always expecting scaling issues and, you know, a lot of people are successfully downloading the government's bitcoin wallet. they are getting the $30 worth of free bitcoin as a reward for doing that and, plus, i mean, it's always hard to say for sure what is behind the prices. >> it certainly is we appreciate it thank you today. so is el salvador's plan one that other countries can follow? let's bring in michael casey, chief content officer at coin desk welcome back it's always good to see you. i'm going get to el salvador in

a moment, but give the market activity today, and the earlier report indicating that some of the exchanges have, i guess, hit some hairballs what are you seeing in the market today and what do you attribute it >> it does feel a little bit like you know what she was saying there's a classic kind of sell-off movement. we've seen a lot i mean, it's the nature of the crypto market. you get the big run ups. it was a pretty sustained recovery from way down about $28,000 in bitcoin about a month ago all the way to 52 and bit yesterday. what often happens in the environments is, you know, either the staff kind of sell-off and so unfortunate timing for el salvador, of course, because the headlines they purchased yesterday don't look so great. i mean, it could be, you know, anywhere between 2 and $4 million loss depend. but obviously people in the bitcoin space are used to this

this is nothing out of the ordinary but it's not the best timing, i would say. >> markets seem to be functioning normally and engs -- exchanges seem to be functioning with all due speed. >> yeah. not hearing any reports of -- it doesn't seem to have that degree to functional problems here. >> and one of the earlier reports el salvador said we'll go first who is next? >> we'll have to see i think this is why the experiment matters if it's successful and there's all sorts of metrics should be applied to what it means not just whether the price of bitcoin goes up but that will be a factor that will then, i think, lead others to look at it there's a really strong case to be made for this as an effective and bold effort to enforce monetary sovereignty

if it succeeds, certainly at the governmental level, then one could imagine that paraguay and some brazil legislators and argentina and others thought it was an interesting strategy. i thought you may see copy cat moves. they'll wait to see. we'll see how it plays out. >> so kelly wants to jump in but i'm going to squeeze in one more in layman's terms, what is the advantage for the government of el salvador to do this what is the presumptive advantage for the citizenry of el salvador? >> yeah, look, i think this is a bold move that could, if it was done properly, work out very well for both those sides. i'm a little concerned about the way it's rolled out, to be honest it's an act of self-determination and, i mean, you do not have monetary

independence in el salvador regardless the dollar is not their currency in any effort to introduce any dependent currency will probably fail given the sort of institutional problems you've historically had which creates all sorts of problems with the debt cycle so the idea of being able to sort of essentially attach yourself to a stronger currency and one that has on top of the fact it's stronger all of this innovative capacity and programmability of digital currency is powerful here. feeding it into a growth strategy at the local level could be very powerful that's where i see there could be, again, if it was properly implemented a real benefit for locals to be a fill in for fin tech and innovation or financial inclusion but also a lot of other technologies that can sort of be brought in on top of it. so a lot of potential. it depends on how it's

implemented. >> and geopolitical locations possibly, michael. el salvador is a country that tried the dollarzation and got frustrated with it has turned to china for some investment and looking for kind of maybe a little bit of an okay, hey, if the dollar isn't working maybe china will and actually had some kind of, you know, left feeling they didn't get as much as they were hoping from the chinese. ironically bitcoin, you know, look at what is happening on twitter and in the community today. you have so many people sort of practicing sending money back and forth. using the lightning network. curious how it came about. it could be more of an integration product with the west instead of one that leaves them feeling alienated and preyed upon. >> speaking our language there, kelly. absolutely i think that's, i mean, obviously you know in washington people are not ignorant. they do know there are geopolitical aspects to this yes, if you do not act the right way, these previously supportive

governments may well end up -- that's a challenge i think it could be an opportunity. i think rather than seeing this as the imf and the world bank and others talking about it's a money laundering threat and you hear the language all the tie time i think the real issue is could you get any on the ground and help evl salvador develop it ina way that is equitable and helps to burnish the development of other technologies i'm particularly interested in the idea interplay between renewable energy and bitcoin and the constant concerns about a real good play in thinking of bitcoin as a way to underwrite the development renewables but you have to do it at the local level to make sure there's infrastructure being developed and spread and used. my concern is that the degree to which there's a central gracious in the hands of the government but the government-run wallet that has its own national id

system embedded in it. there are concerns the u.s. could have gone in there and helped make it something that was positive in terms of a lot of other objectives. >> right thank you, michael, we appreciate it. always welcome we enjoyed our time together michael casey, thank you it's interesting you think about using bitcoin to buy a cup of coffee or a haircut, as in the earlier example there but most people would have .00012001 bitcoin and the cost of the item would be millions of a percentage point, really. >> or you do it in sap like the little pieces of it you're right it's an awkward way. it's almost like berkshire hathaway they have berkshire shares but -- >> yeah. >> it's so big. >> absolutely. >> how do you make it understandable and come pew tateble, if that's a word. >> totally. >> how do i know my balance in

the bitcoin wallet. >> not to mention when your wallet lost 10% of the value. >> that's right. you can get half a haircut why hurricane ida could turn into a disruptive for the oil market this week ma-- marks the 20 anniversary that changed new york, the country, and the world. how 9/11 reshaped the business world. [swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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welcome back here is your cnbc news update. iran continues to increase its stockpile of highly enriched uranium. this could be used to make a nuclear weapon the associated press reports it's the latest assessment of the u.n.'s international atomic energy agency. the group confidently reports to member states said the efforts to monitor iran's program have been seriously undermined by that country's refusal to allow access to inspectors howard university cancelling classes today after the computer system was hit by a ransomware attack the washington, d.c., school said it has intentionally shut down the systems as it continues to investigate what happened

the widow of robert kennedy is speaking out for parole since her husband's killer her family believes in the gentleness that spared the life of sirhan sirhan he should not have the opportunity to terrorize again and should not be paroled. the governor of california is considering a recommendation that the 77-year-old inmate be released. >> thank you very much a check on the markets the dow off the lows of the session but it's in the red by about two-thirds of 1% more than 220 points to the downside s&p basically flat there down about 12 the nasdaq moving the other way slightly higher up 19 at $15,382. all time high for nasdaq earlier today. and the oil market is closing. let's get to pippa stevens with more today >> reporter: hey, kelly. ice prices sliding again today

several factors are weighing here including a jump in the dollar as well as saudi arabia cutting crude prices for asian buyers noting it capabilities concern about the stability of the demand recovery in what is the most important growth market this could also, though, be a play to increase market share. we're seeing correction here a little bit after the run last week as the hurricane ida shut in production wti currently at $68.36 for a loss brent crude dipping about .75 of 1% to $71.69 positive data out of china is putting a floor on losses, however, the nation's daily crude imports topped 10 million barrels per day in august for the first time in five months. the number down year over year. >> it's interesting to see the oil prices down today. it's looking like a significant amount of supply is offline from hurricane ida in the gulf. perhaps as much to offset the

entire increase that opec is talking about. >> yeah. the sec released the latest data moments ago showing some 79% of production still offline in the gulf of mexico that translates to about 1.44 million barrels per day the initial impact on gulf production is now the largest in history, in the first 10 days, more more than 16 million barrels were pulled from the america production is slowly returning we don't are -- have an exact timeline when things will be up and running as works work to get crews back to rigs some refiners are also still shut due in part to power outages. to your point, usually we might have seen a longer lasting and more severe spike in the price of oil, but it goes to show that what is driving the market right now is coronavirus and the

demand. >> absolutely. totally well put still ahead on "power lunch" enhanced unemployment ending for millions of americans. a policy that could ripple effects across communities and companies. our next guest has two stocks that can benefit from the end of benefits we'll explain when "power lunch" returns. hey lily, i need a new wireless plan for my business,

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welcome back enhanced employment benefits ended for about 7.5 million recipients yesterday california, new york, pennsylvania, new jersey, and michigan those are the states impacted the most. according to the next guest, this shift in a labor supply can benefit two stocks we'll bring in justin post from bank of america to explain how you're analyzing this and the companies or the stocks that it would benefit. >> thanks, kelly, for having me

on today yeah for most internet companies, labor is an r & d they haven't been affected by labor shortages. u uber, in particular, it resulted in lower revenue margins as they have given driver incentives so if you get labor supply with the 7 million more potential workers relative to their 2 million they currently employ, you could see a nice uptick there could reduce wait times, increase bookings, and increase revenue rates. i think the street is loopging for over the next four months. if that happens, i think they could be considered more of a recovery stock, which we could get the stock overall. >> you think the end of enhanced benefits will offer more workers to sort of the gig economy plays. what if they go elsewhere? >> certainly there's other options. you know, we think gig work is right for some of these workers. up to 4 million gig economy

workers have beenreceiving unemployment benefits so we think a lot of those drivers will come back ube uber published survey data that suggests people are interested in coming back over 400,000 drivers have come back and we think you could see an uplift based on their everyserver data and historical trends. >> i came back today on an uber because my car is flooded. justin, i was struck by how much more the cost was. have they done the right thing in terms of using whatever pricing power they have? >> yeah, you're not alone. investors have noticed longer wait times and higher costs to take an uber so that has affected bookings. so i think they're trying to do their best to balance the supply and demand in some countries where supply has come back, we've seen higher margins and price values come down a little bit. in the u.s., if supply comes back, we think it will be good

and lower wait times, possibly reduced pricing, and despite the lower pricing could increase overall bookings. >> yeah. when you say supply comes back you're talking about driver supply and car supply. not supply of customers. it's the demand. >> absolutely. i think demand is outpacing supply now what we're looking for is driver supply to really kind of get the uber market back in balance, which should help, again, bookings and margins. >> and, finally, justin, what about amazon we've heard story after story about how workers who were in one industry precovid have now shown up and gotten work with amazon as they've just had a huge boom over the past year and a half how do you think they're likely to be affected going forward >> sure. so amazon is one of the largest u.s. players with about a million employees in the u.s more than that globally. so they've had probably some

shortages of workers as you ramp up to the holiday, you try to add hundreds of thousands of workers historically that helps with deliveries so we think as the supply conditi condition get better, you might see faster delivery times and it might help overall orders. every year they have hundreds of thousands of workers in the u.s. and they can't add those this year it could affect their holiday delivery having that supply really help them this holidays for the consumers, you could see shorter delivery times. >> all right justin, thank you for joining us with your analysis we appreciate it justin post. up next building a legacy to remember it has been 20 years since the tragedy of 9/11. in that time, downtown new york city has been rebuilt spending north of $19 billion on new projects we'll speak with the architect of the 9/11 memorial about downtown's development next. age before beauty?

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nearly 20 years after the 9/11 attacks, millions have visited the memorial at the site of the world trade center to pay their respects to those lost on that day a memorial that opened in 2011 is the work of architect michael

arad his design was chosen from among 5,000 other entries in a competition back in 2003 a memorial stands in the footprints of the old twin towers it has become part of the fabric of the city nearly 20 years later. it's a new and different city in so many ways joining us now from the 9/11 memorial is its designer michael arad michael, welcome we're delighted to have you with us it's a beautiful place i grew up in arlington, virginia i think of it along with arli arlington cemetery as two of the places that both have the beauty and dignity of a memorial such as you want to -- wanted to achieve. what did you achieve with your design and are you happy with the end product? i'm sure you are. >> thank you for having me today. i very much appreciate the

comparison between arlington and new york you know, i started thinking about a design for a memorial here shortly after the attack. initially designing anything right here felt too soon too raw. so i imagined the memorial a block further west in the hudson river and the river shorn open forming two square voids that remain empty despite the water flowing in what i wanted to capture is a sense of loss and absence that time doesn't erase when the competition was announced for a memorial here, at the site i wanted to bring that sense of absence and loss to the site. but, also, marry it together with what i saw in new york in places like washington square which was how important the spaces were to allow new yorkers to come together and respond as

a community. so that's creating an open, civic space that is part of the urban fabric of new york drove so much of this design. >> you know what we hear in the background there, michael, it's the sound of water water falling and water is a big part of the design it serves several purposes one, it's infinite and always flowing. it's always there changing shape. the other is that it takes away the noise of the city and creates a kind of peaceful, as you say, an empty space in the middle of the city taunt that, if you would, for a moment. >> yes you know, in a sense when you're here at memorial plaza, you're in new york but you're also removed from it simultaneously i think the water and the noise and the ambience it creates and the environment it creates allows you to be within the city and at the same time look at the city as if you are from outside of it.

and i think a place that is dedicated to memory and life simultaneously needs to do that. it needs to shelter a visitor that comes here and to provide -- almost cradle that experience i think the names of the dead when you walk up to the edge of the two twin voids. >> you tauntlk about the names the dead adjacent si was important to you in the design. tell us why it was important to you and how you think it changes the experience for those are there to remember who they lost. >> so the idea behind it was driven by, you know, how do we commemorate the dead hofbl the name -- obviously the names are here but we wanted to capture their lives, too we wanted to capture the relationships that existed between the individuals. whether it was families traveling together on the plane or coworkers, siblings who worked together, fathers and sons who worked together here,

and we reached out to all the families of the deceased and asked them is there a name of another person that is commemorated here you would like to see next to the name of the person you lost? we got over 1200 requests and it took us over a year to find a way to reach each and every adjacent request we asked friends coworkers who sat next to whom and who might have been next to whom that day. you might not be aware of the invisible relationships that are existing to that but family members and friends, i think, appreciate it when they come to this memorial. when you learn about these relationships and there are many different ways in which we can share the information, some is recorded stories and stories recorded some is through an app that you can download when you get to the memorial and see these connections. but allows you to focus on individual stories

i think, you know, close 3,000 dead, it's hard to comprehend and relate to and open emotionally to when you hear the story of one person and their friendship with another person, it's a way into that story one of the requests we got from a young a young woman who lost r father, who was on flight, and lost a college friend who was in one of the towers. i think when you hear that story, all of a sudden you think about what happened that day to this one young person. that impact was multiplied thousands of times over. >> thank you, michael. as i said, it's a place not to be miss. it's right up there with arlington, with the cemetery at normandy in terms of it's beauty

and meaning. so thank you very much we appreciate it. >> thank you tethun" lle ckwi bba afr is ic playing. ♪ there's an america we build ♪ ♪ and one we explore one that's been paved and one that's forever wild but freedom means you don't have to choose just one adventure ♪ ♪ you get both. introducing the all-new 3-row jeep grand cherokee l jeep. there's only one. don't like surprises? [ watch vibrates ] proactive notifications from fidelity keep you tuned in all day long. so when something happens that could affect your portfolio, you can act quickly. that's decision tech, only from fidelity.

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this means it is time for "trading nation. shares of netflix all-time highs after a must-see call from atlantic equities. the firm slaps a street-high price target, saying international adoption in japan, india and other regions could give way to 28% on the up side the plot thickens at netflix outpaces the rest of the faang gang nancy, buy, sell or hold >> i think it's a hold and on pullbacks it's a buy they just acquired "seinfeld." the cost of content is significant. negative operating cash flow, and then they're losing the tailwind of the covid state

at-home streamer you both expect to be in the 250 to $260 million subrange so there's good news and bad news the stock is expensive, but not stupid expensive it's lagged over the trailing one-year this management team has shown they know how to pivot at important points so i then if you don't own it, you want to, you pick at it slowly, but it's an expensive stock. a lot of the good news is priced in, so you might get better opportunities. >> todd, nancy says expensive, but not stupid expensive. >> i hold, on a pullback, i agree with nancy, i would like to buy more. markets and annualists are looking to make $12.93 that looks out to 47 times

forward earns. as nancy says, that'snot stupid expensive, but expensive "ozark" is coming back as nancy said economic stimulus is ending, so maybe people become entertainment-conscious >> same sort of advice here from both of you. thank you very much. for more "trading nation" head to our web side or follow us on twitter. kelly, back to you. still ahead, everybody well will tell you about reddit's newest meme stock it's doubled in just a month can you guess this mystery chart? we're back in a minute >> announcer: now the latest from tradingnation.cnbc.com and a word from our sponsor.

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it went public via spac two weeks ago. they've been the subject of a huge discussion on reddit for a gamma squeeze. >> what is a gamma squeeze >> well, i guess the reddit army was right so far on this one >> we'll keep an eye for that. thanks for watching "power lunch. "closing bell" starts right now. >> it does tyler, kelly, thank you very much welcome to "closing bell." the dow and s&p kicking off this shortened week in the red. >> welcome back to new york. >> thank you very much good to be back. >> i'm in for sara eisen let's look at what is driving the action the industrial sectors the biggest loser on the s&p, also