going out. >> mr. najarian? >> i'm going to give you occidental i'd always rather be in the individual names i think this one's going a lot higher >> j.b.? >> live nation there are very few triple tops in this market and almost no quadruple tops 92 has been resistance challenging 92 right here. hopefully this is the time she breaks through i'm long, i love it it >> thanks, everybody "the exchange" starts right now. ♪ thank you very much, scott hi, everybody. i'm kelly evans. and here's what's ahead today. stocks are popping, bond yields are ripping higher is it the fed, china, the spending framework democrats reached an gragreement on this morning? and should investors trade this or fade it plus, niche green flying machine that can rally near 50%. we have the name and the analyst behind the call. doordash seeing a big jump

this year, and it continues to make partnerships. in fact, it briefly surpassed uber in market cap can they keep it up? bob pisani, we look at every angle. >> and you might be a little surprised that we have such a strong rally a lot of people feel that they did another great job saying do not conflate tapering which we're slowly moving towards with any imminent rate hike we're at two-month high right now on the ten-year yield. bank stocks have gone nowhere for the last six months, but they're having a nice little rally. rare to get big super regionals like the following move 5% in a day. but that's exactly what we're seeing these bank stocks haven't done much at all, and any prospects of higher rates, they tend to move to the other side the other thing i want to emphasize is the energy stocks there aren't many new highs, but

we actually have new highs in energy stocks. concois at a new 52-week high. one oak, which is one of the big natural gas companies in the united states, that's at a 52-week high it was a $15 stock a few days ago. and i mean in the beginning of september it was $15 oil and gas stocks do not move 30% in two weeks, but it's been a remarkable rally here for energy auto tocks, another group i want to emphasize. again, not many new highs. every one of these are at new 52-week highs right now. autonation, group 1 automotive and o'reilly even avis is at a new 52-week high i want to also emphasize very good earnings reports from some companies that are really helping. darden had terrific numbers, great business, excellent same-store sales they did highlight some problems they're having with staffing is a serious problem. they're concerned about higher costs and passing that on. they want to find a way to keep

costs down they highlighted all the right issues, but that's a new historic high for darden tonight we'll get nike nike's the perfect global company. they get 40% of their sales in the united states, but they're a very big global supply chain they get about 40% of their sneakers manufactured in vietnam. we'll hear about what issues there are for supply chains. they get 20% of their sales from china or so. they'll be able to describe it as a slowdown there and what the business is. my point is nike is a really global company with a really global supply chain. so that's the company you really want to hear from. but so far we're getting great business from the companies that are reporting. pal is reassuring people and the chinese are desperately trying to manage what's going on over at evergrande kelly, back to you >> bob, you kind of broke it down as we move throughout the session today. how big of a catalyst are these headlines in d.c.? are stocks and bonds rising to the? does one seem to be kind of pulling the other along for the

ride as you watch it play out internally, what you think is the main driver or sequence of events here. >> the one thing totally engrained in a stock trader's mental rolodex is the historic killer of all bull markets is a sudden move by the federal reserve to raise interest rates. that is very well studied for a hundred years. so traders are fearful of any sudden move by the federal reserve. and so far jay powell has held everybody's hands like they're children and said, listen, kids, let me explain something, tapering is not rate hikes, please -- and he keeps pounding away at this and i think that is very reassuring given that traders historically are prime to fear any kind of imminent rate hike from the federal reserve they're doing a great job managing it. i think the chinese government is trying to figure out a way to

quietly wind down the operation over there just like they did with some of the big insurance companies. remember some of these companies? they're gone now people who ran them aren't even around so i think they're probably trying to manage a quiet winddown over there. heaven knows we learned from 2007there are knock-on effects to mortgages going bad that are hard to control. we'll see if the chinese can control that >> we'll dig into that more in just a moment. great analysis our bob pisani down at the nyse. i suppose the sort of thing i can't quite wrap my head around is that, like bob said, you have stocks which are reassured about the fed, but at the same time bond yields are moving higher usually higher bond yields is because they're thinking, okay, fed's going to move, but then stocks don't want the fed. if you could just kind of bring this all together for me >> i think that's kind of easy from my perspective. we've bought and paid for the rally and stocks, and the

ongoing news of more spending, and today the agreement by the congressional democrats that they have a framework agreement on the biden agenda all continues to fuel what's going on in equities we talked about the parking lot of liquidity in terms of the reverse repo market. this all fits in but the issue now gets even a little bit more complicated when you add in what's going on with europe, bank of england. okay, let's start at the beginning, kelly the charts say it all. here's tens and 30s starting this morning and you can see that they were moving up. but right around 11:00 when humor and pelosi had a press conference, it really started hitting the turbo charges. you can see right around 11:00 eastern nothing really exciting happens there. they're just continuing to trend

higher so you could really isolate that part of it back to why europe is so important. the guilt, should they close here, above 90 basis points will be the highest yield close all the way to the spring of 2019. if you look at tens and boones, two-month highs. now it really gets interesting the 30-year bond was responsible for some unbelievable flattening, whether it was against the ten-year or against the five-year over the last several plus weeks well, 30-year bonds are still definitely not in the hunt on this one here's that same july 1st chart of bonds they're going nowhere quickly. but they're starting to make up ground so what you really want to pay attention to is if 30-year bonds hit above 2%, that's significant. but long before that it's a close in tens. any kind of a close with a 1.4,

anything above 1.39% is going to change the technicals very dramatically i would pay very close attention to not only today's close but the weekly close, which is a higher priority for technicals and then add in hedge funds have been selling trying to reverse longs, ctas kicked in. there's some heavy institutional selling pushing these yields up. >> rick, really appreciate it. sort of that breakdown of everything that's been pushing bond yields to potentially a breakout here. stocks are holding onto big gains in hopes that evergrande's debt crisis can be contained in china. the movement in d.c. towards an agreement on the big spending bill the "wall street journal" this morning reporting chinese authorities are asking local governments to prepare for a possible storm indicating their reluctance for the bailout evergrande my next guest says this is what will shape global economies and markets. joining me is president, chief economist and strategist at rosenberg research could you just first offer some observations about this rally

that's shaping up over the past i guess you could say near 24 hours going back to the fed but maybe even before when the chinese are dealing with the evergrande issue. >> right i don't think that you could really look at the stock market's movement in the past couple of days without looking at what happened earlier this week i think it's clear to me that the vast majority of this rally is a relief rally. it is based on regressing the early concern that evergrande was going to be a lehman moment. i mean, you know as well as i do, almost everybody that came on cnbc that day was addressing whether this was going to be a lehman moment. we know now that it is not going to be a lehman moment. there is a greater understanding that this is all domestic debt, the amount of foreign-held debt is very low. and i think there's just more confidence now, and it could be tentative, but there's confidence now that beijing is going to step in and smooth this

demise or maybe even nationalize evergrande so, the market's just been a rollercoaster ride but to me this is largely based on evergrande today. >> you're saying it's a relief rally about the direct knock-on effects. when i look at what you've been writing about, you're sort of warning people that it will slow china's economy, that is going to have kind of an indirect effect on growth what does that mean for stocks and what does it mean for bond yields like rick was saying, their move has been even possibly more dramatic here. >> yeah. well, look, the reality is that even before evergrande was making the front pages of the morning pain pages, the chinese economy was slowing down precipitously. pages, the chine economy was slowing down precipitously. pages, the chine economy was slowing down precipitously. pages, the chine economy was slowing down precipitously.pages, the chinese economy was slowing down precipitously. industrial production is negative 8%. property sales even before this

fiasco were down 20% i actually think that there's a very good chance that china is double-dipping what's the net impact on the u.s. economy you know, it's not that big because the u.s. economy is a large basically closed economy and as big as exports might be to china, it's very small. the direct impacts aren't that big. and we saw that, look, when we had the asian crisis which began really in july 1997, it did didn't become a big problem until long-term capital a year later and never had a direct impact on the economy. had an impact ultimately on the financial markets. the point i'm making here is the knock-on effect, china's really important from a macro standpoint, it consumes half of the world's basic materials. to me this is a big question mark over the big reflation commodity trade. i think a big slowdown recession is going to unwind that.

that's where i think the big impact is going to be. probably a bigger impact on places like australia, south africa, the commodity -- and the u.s. >> absolutely on those individual nations but also there's been a lot of people putting on the commodity trades looking at the need that evs are going to require for those supplies and so forth. and i think slowing china becomes a real challenge to that story. we've seen the slowdown. as you mentioned you're concerned they can even double-dip let's bring it back to the u.s. though we understand that chinese growth matters at the margin, but is that a reason not to own certain u.s. stocks that might have exposure there? i'm just curious, even if it slows things down, if the margin is bad for commodities in certain countries, do we generally have to worry about it, like, if you own the s&p 500? >> well, i think for the s&p 500, there are segments that you have to worry about because these are caps with very large international exposure so i would say you definitely want to screen what you have in your portfolio against sensitivity to the chinese

economy, and then the effects throughout the rest of asia. but look what happened yesterday, leader wasn't the s&p or the dow it was the russell 2000 which finally had a good pop i think you need to be domestically focused that's going to continue, the slowdown we have to make this point, kelly, that real estate in china is 29% of their gdp. and back in 2006 in the u.s. our real estate share gdp was 6%, got down to 3. can you imagine what would happen in the chinese economy under the same circumstance where their real estate share of gdp gets cut in half from this level? a recession will be unavoidable unless of course the chinese authorities, it is a command economy. they're moving back further towards a command economy.

but there's going to be reverberations and i would say that, yeah, multinational stocks, say chinese exposure are ones you want to be very careful about. >> they're screening for less than 10% revenue exposure to china as well. we appreciate you being here david rosenberg with rosenberg research want to give you a quick check on shares of twitter right now, they're streaming up with strike's lightning wallet to integrate bitcoin into the tips feature. that allows users to pay their favorite creators. strike's ceo will join us next be sure to stick around for that coming up on "the exchange," there's a big green energy push in d.c., but some clean energy stocks aren't seeing great gains this year. in fact, they aren't seeing gains at all they are down 38%. the ceo will join us to talk about the viability of fuel cell

power now that solar and wind have become much less expensive. slightly off session highs, but all 30 members are moving higher led by salesforce financials not far behind with bond yields on the move. we're back in a moment >> this is "the exchange" on cnbc

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welcome back, everybody. the push for green energy continues across the globe but if there's one thing that's becoming clear, it's that not all areas of energy are being embraced by investors. solar stocks have been a pretty bright spot. this etf is up nearly 300% in the past three years little bit mixed with wind up double digits during that time and one of the worst performers is hydrogen fuel cell technology names like bloom energy and fuel cell which recently saw big run-ups ahead of the infrastructure bill, but have sold off since then. will the push for carbon capture and the attention on recent power failures in parts of this country start to change that >> that's why we're going to introduce the ceo. jason, i want to thank you so much for joining us today. before i get into the question, we often talk about solar, batteries, hydrogen. when distinguishing between both energies, batteries deliver

energy that they previously store while fuel cell energy converts energy. since the early 2000s, we've been promised this hydrogen highway. yet the technology still isn't everywhere, even though i know you work with utility companies. so, jason, why is it taking so long is it because it's so expensive? >> so, christina and kelly, thank you for having me today. we're really excited about this interview transition and what's happening in the hydrogen economy, and our opportunity to help accelerate that development. let me just give you one example. today we're building a project in partnership with toyota at the port of long beach in california and we're using our trigen platform that platform will deliver three values to toyota first, it will deliver all the power that they need at the port of long beach so they won't be reliant on a grid that's not very reliable. secondly, it will produce 1,200 kilograms of hydrogen a day. that hydrogen will be used for

the toyota marai, which is their passenger vehicle and also a class 8 jointly developed truck that toyota has built and to use on the port. but the third benefit that it will provide, and this is unique to our capabilities, it will also produce fresh water and that water will be used by toyota to drive a car on the port so they won't have to use water as a natural resource, especially when you look at the port of long beach right now where it's actually in a severe drought condition. that's an example of delivering distributed hydrogen using fuel, renewable natural gas to deliver green hydrogen in a transportation application, and doing something that no other platform that we're aware of in the world can do and that's also provide fresh water. >> you just brought up the auto sector but if i were to talk about oil and gas because everybody right now is promising to become net

zero and often that's done with capturing carbon and storing it into the ground. you your company has been working with exxonmobil for many, many years but there was a study that came out from cornell and stanford just in august saying that this hydrogen that's captured in the ground, blue hydrogen actually isn't as clean as we are led to believe. so what do you say to that >> well, look. i think we have a very different view on that and our technology is unique in that we're the only known technology in the world that has the ability to capture carbon from an external source and produce more power at the same time every other carbon capture technology requires significant power in order to run those technologies we're completely the opposite of that the second benefit that we have in terms of our ability and our fuelcell technology is to actually capture the carbon in applications where we're producing hydrogen and that results in what's considered blue hydrogen we believe that blue hydrogen

has a significant opportunity to play a major role as an energy fuel not only in the u.s. but in markets around the world and our view of that is that that is absolutely clean, low-carbon to no-carbon power. and we think blue hydrogen will be a factor. >> jason, it's kelly here. and i wonder as these technologies mature, and again the cost of solar and wind drops, but they don't solve that clean firm power problem that a lot of people are looking to nuclear for. the last i saw, nuclear and fuel cell had relatively similar costs. do you think that this could actually fill a niche the people are usually looking to nuclear to fill? granted on a much different scale. >> look, we believe as a company that there's going to be continued adoption of intermittent technologies like wind and solar but they are intermittent. and you need a way to firm up the capacity of those platforms. we think the answer to that is hydrogen because you can store hydrogen in almost endless

capacity and with our platforms we have the ability to use that excess electricity, convert it to hydrogen, store that hydrogen from something that's called electrolysis and then reverse that hydrogen and produce zero-carbon power. and we think that our platform is the way in which grids around the world can continue to adopt intermittent technologies because you have to have a way to have base load continuous power. and that's what our company does and we believe that base load will continue to be important. we don't think that you can run the energy infrastructure around the world on intermittent technologies >> no, we are seeing that more than ever these days so, again, you can see the evolution here where there will be a spot for technologies like fuel cell to fill this gap, especially as more and more of them emerge. jason, thanks for your time today. it's good to have you here >> christina and kelly, thank you very much and i really appreciate the opportunity to talk a little bit about our company. thank you. coming up, in case you

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welcome back to "the exchange," everybody markets right now are close to session highs. dow is up 580 points we've seen bond yields moving higher today as well 1.7 gain for the dow nasdaq up 1.1%

you heard dave rosenberg highlighting the move. in terms of the movers, this hour investors are looking for the fun in games we got casinos, amusement parks and movie theaters all moving higher so a consistent theme. las vegas sands up 4%. mgm up 4.5 the casinos have seen some headwinds with what's going on in china let's also take a look at shares of remitly global. giving it a $7 billion valuation, the ipo priced at $43 above its range. gap, american eagle, urban outfitters and levi all among the top performers >> here's what's happening at this hour. search crews are back in a florida nature reserve looking for brian laundrie

police and the fbi have been searching the reserve's 25,000 acres. laundrie, who has not been seen since september 14th is still considered a person of interest in the death of his girlfriend gabby petito the white house says that fewer than 5,000 migrants remain in the del rio, texas, boarder area the white house also saying that horses will no longer be used around del rio following outrage over scenes like this and the use of border patrol agents on horses to aggressively confront migrants and on the news a rare look at police intervention training when officers witness colleagues using excessive force or unsafe tactics. that's tonight at 7:00 eastern and in afghanistan a founder of the taliban says it will carry out executions and amputations of hands and that law will be based on the koran doordash goes to the bar, and one charger to rule them

all. those stories all coming up in "rapid fire" in just a menomt here on "the exchange. millions of vulnerable americans struggle to get reliable transportation to their medical appointments. that's why i started medhaul. citi launched the impact fund to invest in both women and entrepreneurs of color like me, so i can realize my vision and give everything i've got to my company, and my community. i got you. for the love of people. for the love of community.

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a "closing bell" exclusive ups ceo carol tome on pandemic shipping demand, supply chain challenges and a holiday demand. welcome back, everybody. let's catch you up on a couple other stories that should be on

your radar it's time for "rapid fire. and today we're tackling all things tech. here to help me break down the headlines cnbc.com technology editor welcome. the streaming wars are going global today guggenheim is bullish on roku as it expands a new platform in canada and adding to its plans to launch in germany later this year they are upping its rating to a buy of 395 price target. it's at 336 right now. reiterating its outperforming disney, despite disney plus saying it will see less. tell me your thoughts on streaming going global i feel like every time people say this they don't really mean it and all that really matters is u.s. ads >> yeah. i think that's the number that

everyone looks at. it's the number that's closest tohome that is an entrenched position to be in once you're up against a device in your home. it also means they get to take a piece of every piece of advertising. we're in a strong position flip side, disney, it's been growing internationally. but unless they add more content faster, they're going to see that rate of growth slow, and they're not able to attract more distributors so, plus and minus >> gina, where would you be on the stocks what would your streaming plays be here? >> i think international numbers matter when you completely saturated the u.s. market. that's what happened with

netflix. and disney still has a long way to go to continue to saturate. they came out hard out of the gate and they still have a lot more subscribers to get to their 250-ish million goal of subscribers. i think that the international numbers right now probably are not going to matter that much for disney for roku it does matter and i agree it is an entrenched position where they're taking a piece of every action. so i think that is quite a valuable strategy. >> steve, i'll give you a quick final comment. >> yeah. i can't help thinking about amazon i think this report sleeps a little bit on amazon's ambitions here they just put out a tv last week they have the thursday night football deal. and it's a huge shopping platform so smart shopping on your television integrated with amazon, that's something to watch as well on top of the ad business nilay was talking about. >> let's check on the dow as we talk about what's going on with dylan doordash here. almost 600 points at this hour

you can see that intraday chart where we just keep seeing some of these names climb interestingly enough, one of the best plays doordash, announcing a partnership with bed bath & beyond doordash guys made 57% of all u.s. meal deliveries last month, more than double uber eats shares they're up 50% this year while uber is down 10% so, nilay, are you surprised at how well doordash is doing i'm surprised how well their stock is doing, especially at a time when investors are puni punishing fedex, doordash is just another delivery company. >> but it's one that has a brand with consumers alcohol is a win/win/win for everyone just an all-time great market expansion quote. i will say that challenge for doordash is delivery workers and new york city is regulating how delivery workers are going

to get paid and how they're going to get treated the cover of new york magazine a couple weeks ago was a collaboration with the verge on the lives of delivery workers in new york city. people are starting to pay attention to where the margin really is for these companies, and as regulation hits those, i think doordash is in a challenging position but people like getting stuff delivered. >> gina, i'll give you uber and doordash and i'll keep insisting that fedex be thrown in there. as an investor, which one do you like >> i like fedex of those three, without a doubt. i think uber and doordash actually face that gig worker issue. and the margins are extraordinarily thin uber was losing money on every single piece of volume and doordash isn't exactly swimming in margins either and so the regulation on gig workers is important and the evaluation does not reflect that risk. >> steve >> yeah. i think it's just amazing how close in market cap doordash and uber are all of a sudden

if you remember for the last decade, the whole story around uber is it's going to be the amazon of logistics. and it turns outdoor dash could just swoop in and become as big as it is that's pretty impressive and it's not a good look for uber, to be honest >> don't sleep on amazon because it itself has huge last-mile capacities here. and we know that they're never one to stand by and let a market opportunity pass before we go - >> and they're just adding more cities to amazon same-day too. >> exactly they're all going to be becoming head to head all right. finally, the e.u. is proposing some legislation that would require companies to equip their electronic devices with standard usb-c chargers i love this because it's so e.u. it aims to cut waste and make life easier for consumers. but apple has long opposed this move most of its devices feature these lightning connectors they remain concerned that strict regulation mandates just one type which in turn will harm

consumers in europe and around the world. gina, i mean, it is very frustrating to have to constantly update your little cords. we all have cables all over the place. does the e.u. have it right here or will this really stifle innovation >> i side with the e.u. on this one. i think it is just such a pain to have to re -- and i travel so much and every time i have to refresh my entire travel bag of cords. it is ridiculous i think the e.u. has it right and apple is just whining. >> steve, we might now need more cords to travel if there's going to be one standard in the e.u. how is this going to play out? >> that's right. it's just kind of interesting for all as anti-consumers, for apple not to include things like the wall plug with their iphones anymore. it also feels a little weird for the e.u. to legislate tech down to what kind of ports can be on the phone.

at the same time, and i know nilay is going to back me up on this it's very clear apple is moving towards portless devices, meaning all wireless charging so this might not even be an issue in two years >> maybe that's the way out of this, nilay. california, massachusetts are probably upset they didn't come up with this first [ laughter ] >> yeah. it's a perfect e.u. regulation and it is the exact right move right on the cusp of being totally irrelevant [ laughter ] and we'll see what apple does. i think their statement on innovation and connectorsis hilarious. apple is the company that pushed usb-c in the beginning and it has been mostly a consumer disaster. it is very confusing to use. lots of different substandards of usb-c all with the same connector. if apple can simplify, i'd buy it but they're kind of the ones that created this. >> i'm not even sure which one that is. i'm like i think that's the narrower one, but i can't even keep up. i just carry a bundle of cords

everywhere going to get right on the cusp of it going obsolete is the quote of the day thank you all. really appreciate your thoughts today for this edition of "rapid fire." coming up, it's the market that could be worth trillions that you've never heard of morgan stanley calling one of the main players the niche green flying machine that could change thway ope pele commute we will reveal the name next, on "the exchange. retirement income is complicated. as your broker, i've solved it. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that.

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welcome back, everybody. morgan stanley, take a look across the markets as the dow continues to climb towards session highs. we're up just about 600 points on the nose led by energy of 3.5% today financials up nearly 3%. and industrials up 2% as well. the best performer is the dow real estate, the only sector fractionally in the red. kind of makes sense with rates on the move as well. morgan stanley is making a bold call, calling it a niche green flying machine we're talking about jobi

aviation its shares up nearly 12% the company is working on an electric aircraft that takes off and landsvertly. joining me now is the analyst behind this call it's great to have you here. how close is this technology to prime time >> first commercial service will be in 2024, kelly. so it's something that we could see in the next few years for sure >> when we say 2024, is that like a wink-wink '24 or is that, like, look at what's happened with space this year where all of a sudden we've got astronauts on these incredibly successful private missions >> i think you have to look at this market in terms of what can happen in the next five years, ten years and then what's 2040 and 2050 to put it into context, our $9 trillion in 2050 represents about 4 to 6% of gdp in that time frame aviation today is 4% of global

gdp. and the u.s. auto tam is 16% of u.s. gdp if urban air mobility disrupts the way we travel and these aircraft become more commonplace in 20 to 30 years, 5 to 6% of gdp is very reasonable for this disruptive industry. and jobby is the first one to come up with a commercial certifiable passenger aircraft with an electrical vertical and take-off landing capability. >> for investors who buy the name now, why do they need to own joby as opposed to waiting a couple of years. is it better to wait until the technology is more proven and advanced >> there are many companies that are entering this space. and you're seeing them come up with spaks with the pre-revenue aspect of these companies there is a speculative nature of this why i think they stand out versus competitors is they have a full-scale prototype that is flying and the aircraft has

flown over a thousand times and has shown ability to hover, to transition from hover to cruise, and also land. and when you have a full-scale prototype and you're working on faa certification, you're just that much closer to actually coming and having this to fruition and also the military is using this technology. so this is not some far-off flying car type concept. whatever these are, are immediate replacements for some helicopter routes. >> that's exactly what i was going to ask is where should we expect to first see this technology utilized? military would be one option that not only could serve a unique purpose, but investors always love if there is a government contractor because of the pretty reliable revenue stream and a potential huge market where else are helicopters used? news functions and local search and rescue and why couldn't drones ultimately serve some of these purposes >> i guess there's a few things in your question and the first one is routes.

if this aircraft takes on and lands like a helicopter and cruises like a fixed wing, one of the more immediate benefits would be anywhere a helicopter could go in short distances because you're limited by range in terms of battery today. so short distances you could see this going from city center to airports, city center to a popular commuter point or even to local getaways. and helicopters serve this market today you can pay $199 to go on blade from manhattan and jfk and if the joby aircraft will be safer because it's a fixed wing with vertical takeoff and landing capability versus a single point of failure where you have more common in helicopters. this could become more common a place and you could see those be replaced shortly and also for tourism, you see helicopters flying over central park if you can have a safer aircraft to do that, why not and also cheaper and more affordable? and that's where you can see that growth. your second question is on

autonomous vehicles and drones for regulation, the faa's not there to allow for pilotless aircraft for passenger travel. so for this type of airplane, you do need a pilot first and pilotless, i mean, that comes some time in the future. but in the more immediate future, this could be a helicopter replacement market. for joby you don't need a 2050 pam to make the investment case today because in ten years if they could be 20% of the u.s. helicopter market, the investment case is here for joby at a $16 price target. >> yeah. always a lot more comfortable to say this is going to take over the helicopter market than to say, yes, we are going to have flying cars. >> i mean, for that monitor, flying cars, i think it's a little bit misleading because you're not taking a car from fifth avenue and then flying to the hamptons this is really more of a helicopter, heliport type operation. >> it's great to have you here

thank you again. still ahead, a lot of buzz surrounding the buy now pay later space. we'll talk to jeff sloan about increased competition, and how the pandemic has impacted business that's right after this. t. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business, you can pick the best plan for each employee and get the best deals on every smartphone. 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

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welcome back, everybody. global payments has been enabling buy now, pay later for years. executing more than a billion and a half trngss recently it recently paired up with amazon web services is this technology about to become more ubiquitous joaning me, the ceo of global payments, jeff sloan great to have you here, welcome. >> thanks for having me. >> buy now, pay later has been around for a while >> yeah, kelly, that's right one of the things that's important to understand about global payments is we are the beneficiaries of payments in the ecosystem. of course installment payment plans, buy now, pay later have been part of our ecosystem for many years, particularly outside of the united states, in asia pacific, and latin america

as you said, today we enable global payments of more than 1.5 billion buy now pay later transactions each year a lot of those are powered by virtual cards. we spend $25 billion a year on those. it is fantastic for us the more things are digital, the more money we make. >> interesting i think you are the fourth largest company and global merchant acquirer and processing space. your rivals are fih, and chase a lot of market share is being taken by start-ups like square can they get so big that they go offer tiffani, louis vuitton, your bread and butter? >> i would say our value proposition is along the few lines. we are in the top quart i will the second thing is we have one of the largest if not the

largest e comacquiring businesses in the world. square is heading in a different direction trying to be a digital bank and provide digital waltz for consumers. for us, it is 100% digital payments it is 100% of what we do i think we are headed in a different direction. to the extent it builds a bigger market address in terms of interval payments. >> we we talk about b to b payments, one business to another as opposed to the consumer checkout experience we are used to in the physical store or on line, who traditionally has been processing b 2 b payments. what difference does this acquisition of yours make with regard to how that space continues to evolve? >> b 2 b payments is a $125

trillion, with a t, dollar business but half of it remains by check the answer to your question, almost nobody is doing payments, and in some cases ach. it is mostly check on a business of that size that market is growing organically, double digits when we did is buy the last remaining leg that we needed, cloud sass for accounts payable automation largely in aws, enables us out of the gates to have two thirds of a billion dollars of revenue and be one of the biggest participants this the b 2 b marketplace really out of the gates. >> i do hope that you can bring it to scale quickly. you and all others working in the space. because it is shocking sometimes how far behind some of these companies still are, even with the way this they deal with customers, let alone with each other. jeff thank you for joining us. we look forward to checking in with you soon. >> thanks for having me. >> jeff sloan from global payments. coming up, 73. that's the number of container

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welcome back, everybody. while the record number of container ships sitting to the west coast is not great for consumers seeking goods, it could be a boone for smaller freight names. frank collins is here with that story. >> a record 71container ships are off the coast of california waiting to unload at the ports of los angeles and long beach. it's a 31% increase from back in early september. companies are racing to get goods into stores. it led to a surge of container shipping but container shipping on rails decline over the last two months because the u.s. container shipping network is backed up. bottlenecked maxed out. sneakers, electronics,

furniture, all the things normally shipped on containers are being shipped on trucks now. 2019 demand 442% higher for general trucking many others are going to air shipping those rates are 200% higher year over year. companies are trying to move goods however they can companies like old dominion and airfreight carriers are putting loads together, ltl to make things faster. ch robinson leading freight corridor from asia to the u.s. has 15% of the u.s. truck brokerage market >> fed exyou would think would be another beneficiary, but they are down 10% year to date. >> higher labor costs. when you look at their balance sheet, you see those costs, they really spiked, especially for

its ground division that handles most of e mers residenttially. >> and way they are handling it versus all the others you mentioned. the stacks are all over the place generally trending higher because of the demands and because of the higher rates. frank, thank you very much we appreciate it today. that does it to the exchange, everybody. thank you for joining us this hour "power lunch" starts right now yes, it does, kelly. welcome, everybody, to "power lunch. glad you could join us on this thursday afternoon here's what's ahead this hour. big rally on wall street mondays losses out of here erased all of the major indexes less than 3% away from their recent highs. how should you play the rally? what should you do maybe nothing. and twitter and strike teaming up to tip in crypto. and was the reddit army