life if that's his belief, he's going to ride this out for a long time rather than quickly sell >> what charlie munger always says he says he wants all of his eggs in one basket and to guard it closely. worked out pretty well for him thank you. that does it for the change today, everybody "power lunch" begins right now gamestop, blue chip, hold forever. just saying. i don't know i don't know all right. welcome to "power lunch," everybody. here's what's ahead on yet another busy hour as we begin this year. fighting inflation the fed chair powell says the central bank could raise rates more than projected if needed. how do you invest asthis easy money era fades away we've got two power players this hour the ceo of cigna is with us. we'll get his take on covering at-home tests and the company's

big push into telehealth benefits and the ceo of akamai one of the most interesting companies of the internet era, one of the company's most just companies by just capital in partnership with ceo we'll talk with the ceo about job creation and responsible corporate behavior kelly. >> thank you hi, everybody. take a look at these markets a big turn around for the nasdaq since yesterday. it's up one and a quarter percent. well off the sort of 14,000 we say 7,000 level. s&p higher by 29 dow up by 95 around session peaks there even though it's the underperformer some with the chip sector, which had a bad start to the year, but trying to stage a turnaround and the yield perhaps underpinning this change in sentiment, it's in the red today around 1.75% >> we begin this hour with the

fed. chair powell on capitol hill today for his confirmation hearing saying the central bank will not hesitate to act if needed to contain price pressures. during his tenure which began in 2018, the s&p 500 is up about 65%. consumer price index has risen dramatically since then. inflation currently, the central bank's biggest challenge, but could a more aggressive strategy, mainly higher interest rates, sooner, risk reception. with us is greg ip from "the wall street journal" good to have you with us how difficult is the needle mr. powell must thread is it harder even than the needle he had to thread or what he had to do at the height of the pandemic two years ago when it was just, when the economy rolled over? >> well, they're two very different situations, tyler. two years ago when the pandemic hit, we were back into dynamics that were not that different

from the financial crisis with a non traditional economic event essentially causing confidence, employment, everything to collapse the fed basically acted in an emergency situation doing a lot of creative things then guarding against the possibility of a very weak recovery, much like we had after the crisis in retrospect, that perhaps was taken to far and so they've been caught off guard by not just a very strong recovery and demand, but also significant and lasting c constraints on supply and the result is that you see this big gap opening up between what people want to do and spend and what the economy seems to be able to provide and the result is low unemployment and high inflation and the fed completely positioned inkrcorrectly with te federal funds rate still at zero and buying bonds they need to reverse course quickly and doing so without doing a lot of damage to the markets or the economy is a huge challenge. >> it's a huge win and you

didn't even get to the question really of labor and labor shortages and if those persist, in other words, if people continue the quote, great retirement or continue to stay on the sidelines because they don't like the job opportunities that are out there, that is going to put more pressure on wages. not a bad thing for workers, but ultimately, it contributes to inflation and carves away at corporate profits. >> right and i think this is where the fed is really behind the 8 ball because they were thinking they could recreate the pre-pandemic period where unemployment got down to the low 3% area and this would gently contribute. instead, we got the 3.9% unemployment a full percentage point lower than the fed thought we'd be a year earlier in the month of december and we're going lower they're looking at 4% gdp growth this year, that's consist ebit with the unemployment rate

dropping to the low threes imagine what we're going to see when it's down in the low threes so that really just i think illustrates, tyler, how sustained this pressure is the fed is going to have to combat what they're hoping is that a lot of the restraint on the supplied workers is a temporary factor related to covid and as covid retreats, we'll see people flood back into the labor market that's kind of the baseline, but with each passing month, that looks less likely. >> this is so interesting because it does all come down to how many people come back in the labor force and in a way, that's more of a fiscal policy issue and a pandemic issue, isn't it so what should we watch and if people don't come back in the labor force, where is this economy heading? >> this week, we're going to get another cpi print and you know, the consensus is it will be around 7% year on year

like a really ugly number. and the fed's message and the white house's message is this is mostly reflecting temporary shortages and to a certain extent, they're right. used cars have doubled in price. that's clearly not because the labor market is tight, right i think the question is once some of the more obvious labor shortages are out of the way like with used cars, like perhaps where ocean going shipping, where are we that's where the job situation comes into play. if inflation, if those temporary factors fall away and that leaves us with say inflation in the 3 to 4% area, then the rate is not consistent with inflation going back to the fed's target and that's where you get into some of these difficult questions. how tight does the fed have to get? that was one of the more interesting takeaways from powell's testimony today he did not at all basically close the door on the possibility of actively selling bonds off their balance sheet and accelerate it from a

quantitative tightening and he talked about the possibility of having to raise the federal funds rate into restrictive territory. >> and that changes so much of the calculus about the economic prospects going forward. it changes a lot of the calculus about the value of corporate earnings no wonder technology and other high growth stocks whose multiples are discounted for future value are suffering so much what is it an investor to do given what's going on, greg? i know this isn't your zone, but i know you have some thoughts here >> so, i'll tell you the one part of this that continues to puzzle me is the bond market even with the selloff we've had, we're still sitting here with a 1.75% ten-year yield that's below the inflation rate. real rates are like negative out to ten years that, i have trouble reconciling that with the notion that we have this like super tight labor market like this booming economy

and like a really serious inflation problem. what does a bond market see that the rest of us are not seeing? it leaves me to think that maybe the whole secular stagnation story, which was the only thing we were talking about before the pandemic, might be what -- we might be back in that situation in a few year's time now, the irony is that's a situation when growth is kind of sluggish, but it's a situation where real interest rates remain close to zero and frankly, that's supportive of a story of stocks still being very highly valued >> all right, greg, one of the smartest people we know on subjects like these. thanks kelly. >> so how do you invest in the era of easy money is coming to an end our next guest is finding opportunities in regional banks and tech companies with high free cash flow mike is ceo of cap trust good to have you here, mike. let's start with, if you want to respond to what greg was talking about there, how do you see this

year playing out >> yeah, well, the fed has found itself in a box now. they're really i think stuck between the proverbial rock and a hard place with the need to increase the speed of quantitative tightening and beginning to get the short end of the curve off zero, but yet have to be worried about long-term rates. the economy is so leveraged, particularly in federal government, that having high rates go up a lot is going to be a problem. so they're really stuck. i think we've seen what it does as tyler just mentioned. what higher rates sort of the threat of higher long-term rates has done to the technology sector we just, we think two things are going on one is there's a, there's still this sort of path of covid, although it's becoming more clear every day, which prior to recently has been unknowable it's been very unpredictable and also, this sort of threat of

higher interest rates. we know megacap technology companies do very, very well with lower interest rates. those long duration assets do greats when rates fall, but banks with a huge discount to valuation, two megacap stocks have done well when interest rates rise so we've been a number of months been barbelled and it's working beautifully. >> sure. we mentioned regional banks. can you give us some examples of the tech companies you're interested in with high free cash flow? >> microsofts, apples, meta, google, amazon and so on they're cash flow gushers. the question you have with those is what price you pay for it in terms of regional bank stocks, we've been using a broad etf that helps us cover a big, wide array so you know, there's, there are some we like ozk and a few others the point is that if you're

building portfolios, you need them to be resilient for different kind of environments and right now, the environment is exceptionally difficult so we continue to benefit from having exposure to sort of both end of that barbell and then you know, sort of avoiding the great unwashed middle if you will. >> if i might just a little bit about bonds. a lot of people have a lot of bonds. they own them in etfs or bond funds or own them individually what kind of environment is this likely to be for the people who own bonds? what kind of hit to their principle, to the value of their fund shares are they likely to see over the next year, two years? >> you know, it depends on the type of bond investor. long-term investors like insurance companies that have long dated liabilities that they're using to hedge, you know, are going to see some significant impact if rates rise another 100 basis points or so i think most retail and

individual investors, taxable investors, have much shorter arch length of bonds so it should be very manageable for them what weexpect out of a 60/40 portfolio, we could have lower returns for the next few years as the stock market digests higher interest rates and a conservatively managed bond portfolio also does. don't equate the risk in the stock market with the risk in the bond mark. even if rates rise, you're not going to lose nearly as much money in a high quality bond portfolio. >> appreciate your time. coming up, the ceo of cigna will discuss insurance coverage of at-home covid tests rising healthcare costs overall and how innovation is reinventing the industry think teledocs we'll take bitcoin prices with the ceo of strike as he makes a big move into crypto

payments in argentina. bring the hoodie, baby as we head to break, a look at some of the stocks making 52-week highs including exxon. charles schwab and cvs health. your shipping manager left to “find themself.” leaving you lost. 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

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money rotates out of tech. the ceo appearing at the jpmorgan conference today and now, david joins us along with bertha coombs. welcome back, bertha >> thanks very much, kelly, and thank you, david, for joining us you reaffirmed your guidance this morning tell us what you're seeing in terms of covid and the costs given this latest omicron wave >> sure. good to be with you today and i hope you're well the fourth quarter of 2021 is clearly an environment where we see elevated covid and the omicron variant is obviously as we've learned, highly contagious we've seen the most number of covid confirmed cases in our portfolio in the month of december than any month since the start of the pandemic. but importantly, we've also seen the lowest percentage of those cases make their way into

hos hospitalizations so it's proving to be less acute. we also see an increase in testing to manifest itself even with that as a whole, to your point, we're able to reconfirm our full year outlook for 2021 and reaffirm for growth of 10% because of the breadth of our portfolio and ongoing really attractive growth across both of our u.s. business portfolios >> you talk about testing. of course, the administration has now issued the new rules where health insurers will have to reimburse patients for over the counter testing. which is different from offering free testing with a clinician. what are you thoughts on what they're saying they're saying essentially $12 per swab what is that going to mean for you and how are you going to implement that starting this saturday >> yeah, so first, the really important part to go back, i'm really proud of the industry has

a whole where at the earliest onset of the pandemic, the industry stepped forward and said the industry will take on the cost of medically necessary testing. that's an example of i think good, constructive public private partnership and driving forward. to your question, it needs to be implemented within a few days. the good news is within our organization, within our service portfolio, we already stood up some solutions for clients to opt into to cover the at-home testing and provide access to at-home testing at certain providers across the country so we're a little bit of a step ahead relative to that then what it means on a go forward bases is to be determined, but when you think about the antigen tests, it costs $12, $12.50. you could do two for every lab test so we think there's going to be a change in the number of lab tests for more antigen

tests. also, we'll be able to diagnose some covid events earlier on in its impact and take some other costs out of the system. so to be determined in terms of the overall cost equation. we believe it's manageable in our portfolio and we're positioned to be ahead of this adoption of this new rule. >> if i'm a cigna member, how will this work for me? how do i get reimbursed? how do i get, you said your ever north services department has been ahead of this how do i get a free test from them >> so, remember, when you ask that broad question, there's a variety of ways you can establish your relationship with us if you're in a commercial relationship, remember that 85% of our relationships are what's called self-funded so it will depend on the terms of the employer. if you're in the risk business, we'll reach out to you in short, you'll access it one

of two ways based on how the market works today if you're employer or program opts into the solution, if you go to one of the participating locations, you won't have to pay anything the way the rule is set up that you articulated, if you're accessing the service in some other way, shape, or form, you'll submit a claim for imreimbursement. the rule has a cap in terms of the cost per swab. i believe it's eight units per month per person it will make it as easy as possible for the customers we serve. >> and not much time left, but you know, just as tom brady can change the game in those last few seconds, do you think this, for you, as you look at the fact that you've got ever north to try to meet members where they are, do you see home testing becoming a bigger factor in terms of that kind of primary

care >> we see more broadly to your important point, the ability to harness technology and have a digital first offering to the ability to bring more services to the palm of the hand of the individual is mission critical on strategy for us and accelerating both primary medical, medical behavioral as well as chronic care, diabetes, et cetera. from that standpoint then the ability to extend in the home by augmenting the home. so testing is a, i think an indicator of it, but broader healthcare coordination that is highly personalized, efficient, coordinated and takes fragmentation out of the system and cost effective that's what we're extremely excited about and with ever north, ever north care is focused on bringing those services to market and we've stood up multiple of those services already for 2022. >> david, thank you so much for joining us really appreciate it

>> good to be with you >> our thanks as well. fur ther ahead on the program, bringing you some car mick justice first, the release of cnbc and just capital's new ranking of america's most just companies. then jon fortt, speaking of just, sharing his highlights from his interviews with the ceo of career karma. stick around all that is ahead on "power lunch. but all my employees need something different. 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 smart phone.

here's your cnbc news update the white house is condemning north korea's missile launch south korea says the missile traveled more than ten times the speed of sound and was more advanced than the missile tested by north korea last week the airports were briefly paused last night around the same time as the launch. the faa said it was a precautionary measure, but didn't specifically refer to the test president biden is in atlanta where the president will be speaking about the need for new voting rights laws

harris visited briefly with biden before they came down the stairs together. and perhaps hard to tell, but this is not video of the current cold snap in the northeast. pretty cold here it's antarctica where a team of scientists have started drilling they're looking for ice ores that are more than 1.5 million years old. temperatures range from 22 to 66 degrees below zero fahrenheit. hard to wrap your mind around. >> it's summer there now >> good point. >> thanks very much. time for today's power movers, folks. first up, shake shack up 15% reporting strong sales and revenue, but management warning of potential staffing issues ahead. there you see shake shack moving higher next, albertson's beating earnings and revenue expectations the biggest boost traffic were covid tests and vaccinations despite this, the stock is lower

today by 9%. and finally, big lots also in the red. the company reporting soft track and sales trends up next, a crypto conund rum. bitcoin hitting a rough patch. we'll speak to jack mallers about all of this and his new launch right after this you'll get closer to iconic landmarks, to local life and legendary treasures as you sail onboard our patented, award-winning viking longships. you'll enjoy many extras, including wi-fi, cultural enrichment from ship to shore and engaging excursions. viking - voted number one river cruise line by condé nast readers. learn more at viking.com.

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get a great deal for your business with the ready. set. save. sale today. comcast business. powering possibilities. welcome back we've got about 90 minutes in this busy trading day. we want to get you caught up on the equity markets stocks are higher across the board. it's been a while since we've been able to say that. the nasdaq higher by more than 1% up for a second day in a row 170 points right there investors are buying as tech shares are on the dip today, kelly. >> and treasury yields are lower after jay powell sounded just the right amount of hawkish, but not too hawkish. rick santelli joining us from chicago on a day where the ten-year rate is now back around 175. >> yes, i'll tell you what, he did say all the right things and the investors, well, they

listen and they acted on what they heard how do we know that? because we had a very aggressive three-year note auction today. i graded it an a for demand. i picked two-year notes. if you look at a short maturity, you can see two things clearly right after around 10:00 eastern as jay powell was talking and answering questions, you could see the yields dip they came back a bit then got whalloped again that was a result of the three-year note auction. dealers took the smallest amount, meaning investors took the most my recordkeeping goes back 20 years for a three-year note auction. if you look at a year-to-date of ten-year, this is all intraday charts it is so telling because obviously we moved up almost every session. we have lateral moves today and now we're slipping toward the high closing yield from march of

1.74% with cpi tomorrow, if we close below that level, that really changes the dynamics. tens to twos is steepening fives to 30s has gone back up to 57 they're believing that powell is saying and that's putting the kai bash on the dollar it's really rolling over in a big way. on pace for the lowest close in five and a half weeks and doing some real technical damage to the charts tyler, kelly, back to you. >> rick, thank you very much oil closing for the day with a big gain and pippa is on it as the commodity desk >> big gain is right with u.s. oil jumping above 80 bucks to its highest level since the middle of november the contract is up 3.8% at $81.25 brent is at 83.78. now a couple of factors are

driving the gains here including chair powell saying that omicron's impact will be short lived. the energy information administration also just released its latest outlook saying they expect demand for petroleum products to return and surpass pre-pandemic levels this year the agency bumped up its oil forecast saying wti will average $71.32 this year higher than prior estimates, but more than $10 below where it's currently trading because they predict that supply be also rise with u.s. production hitting a record high during 2023. erica adding that opec missed estimates again and investors are re-entering long positions after cutting risks. so a lot of factors to watch here >> thank you so much bitcoin prices stabilizing around 43,000 after falling more than 40% since november, but one company is continuing its push to bring crypto to countries

around the world joining us now is strike's ceo, jack mallers the company announcing expansion into argentina today jack, great to have you back this is a big deal, but do you think the government will be as receptive as el salvador's was >> yo, kelly, happy new year, let's change the world no, i don't, list en, kelly, ooi'm not a government consultant. i'm here to push our species into a place that will make the world a better place the government align wd the vision and thought the coin was a useful tool. that's not my job. i'm just impressed with my team, bitcoin, and the tool set we've been allowed for and making the world a better place for giving the people of argentina, a monitory policy, network, they can rely on and make payments and subscribe to an asset that is external of any government or

central party intervention that's really paying them over the last 100 years >> argentina has had such a tough time with inflation. when i visited there about a decade ago, they said just use your u.s. dollars because that's a better way to do business. so i see the use case. in el salvador's case, it's not like you partnered with the government to go in there. you launched the app, it got really successful. i'm going to be curious to see if you're successful in argentina, if you're met with approval by authorities there or they'll say no, we don't want our citizens doing business this way. >> this is what's interesting. your right the inflation that has plagued argentina, their unit of count is u.s. dollars and demand for dollars is through the roof and the black market, a dollar is worth twice as much as it is according to official rate so they are looking to store their wealth in something else

many use bitcoin, but even that is too volatile for them however, their able to make payments, this is a cash economy. people buy housing with cash they are not even allowed to use payment networks there the visa network that operates on u.s. dollars does not work in argentina. it is banned and so for strike, what's really interesting for us is offering them a convenient cash collateral they like their daily spending cash collateral to be in dollars, but interfacing that over the bitcoin and lightning network to make it seamless to make payments. so to the individual, if you want to hold as much or little bitcoin as you want, that is up to you we allow you to hold a dollar like cash collateral, but then use the bitcoin network under the hood to escrow the value to make payments and excuse them of this really monstrous cash-based economy. >> they are telling me i have about two minutes and i have about ten minutes worth of questions. is venezuela next?

for you? >> everywhere is next for us the novel thing about bitcoin is it takes the property that makes internet companies valuable and important is that they have a target audience of about 8 billion people an open, global, singular network. the good thing about strike is we get to sell them money, not advertising. we're delivering one of the most viral products in human history. it's akin to like water to live a high quality life. we get to try and sell money to 8 billion people a better and superior financial experience i'm on a mission to deliver this to everyone that has a pulse on this planet. >> let me bring it back to those in the u.s. wondering about the value of their crypto. where do you think the price of bitcoin is going from here and how much does it matter? >> up is where i think it's going. listen, kelly, when the monetary

policy is supply the issuance of the asset is known, the only missing variable is demand and people are in high demand. the federal reserve is perverted risk tolerance across all assets and the saving account has been robbed of the every day person housing is not going to have every four years there's not a fixed simupply on any precious metal, security, equity bitcoin is designed and engineered by us human beings to resolve of this exact problem of preserving and storing and saving wealth. so i think it's up it's going to appreciate against any denomination it's paired against. >> is it show a different environment? all the arguments you're making, now we have a fed that's out there talking about tightening policy quite considerably. >> listen, it's an insurance policy the fed and our government said a lot of things that were lies what do you want to do start trusting them now? no chance. and it's really quite

ridiculous the federal reserve has perverted risk tolerance across all assets no one knows the cost of anything it's really jeopardizes the middle and lower class and now you haveventure capitalist advocating they store their savings in cartoon drawings of apes called nfts it's a mad house it's disgusting. the only monetary policy defended in a network we can rely on. whether they're lying now, telling the truth tomorrow, lying next month, it doesn't matter to me because i subscribe myself to a monetary policy that i can trust and i know won't change >> i love your passion you mentioned several times bitcoin is a store of value, but recent performance would say that value has not been stored well it's down 20 something percent in the last three months more than that if you look back to the highs >> yeah, i mean, is amazon also

a bad store of value when it drops a little bit look at the historical performance of the asset i'm not, no one should be looking at bitcoin to perform for a better day tomorrow or better week next week. it is a savings vehicle as an asset class. a place you can preserve and store wealth across generations, time, and space, period. there's no asset that's better performed. for something going from being invented ten years ago to being where it is today, that implies volatility human beings are emotional bitcoin is as far as monetary property and characteristics of the system, the most sound financial tool we've ever seen in our species as human beings >> all right what a good place to end it. jack mallers, thanks very much >> thank you up next, fighting for truth, justice and esg. cnbc and just capital releasing their ranking of america's most

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welcome back to "power lunch. today, just capital unveiling the most just companies in america and among the most important criteria are pay for employees, job creation and accountability akamai is 46th they ranked well for their treatment of employees and customers. joining us now is the cofounder and ceo, taom layton. welcome. >> thanks very much. nice to be with you. >> can you elaborate on when they say you treat employees and customers well what does that look like >> we really care about our employees. they're our most important resource and our customers are very important. we'll do whatever it takes to make our customers happy >> so a lot of companies would

give the same answer, but can you explain why you guys do things maybe differently in order to earn such strong designation? >> well, for example, with employees, you know, it's been very challenging over the last couple of years with covid and all the implications one of the things we've done is institute wellness days and we have about seven a year where we ask all our employees to just you know, take the day off we have programs in place to make it really flexible where employees get their work done. you know, employees, we encourage them to work remotely for most of the employees who can do that and going forward, it will be an option for employees to work remotely whenever they want and we're making it possible for that to happen and for folks to be protective lives have been upended with the pandemic and so we want to do

everything we can to help our employees get through it successfully and also be productive at work you know, it's really important with diversity, inclusion, and engagement we make a lot of efforts there so that every employee has a voice. it's true, diversity of opinion and rigorous debate, if we make the best decisions and get the best ideas it's just really important for the company. >> yeah. so do you have a lot of job openings now and as we envision a year where the labor market is going to tighten further and a company like yours might be attractive to people, people you might be recruiting, what does that likely mean for wages, hiring, head count what are your thoughts >> we do have openings we're a growing company. been very successful, fortunately, and you know, it makes a difference when a company is considered a great place to work like akamai is and

there's high employee morale and job satisfaction that helps us with retention and recruiting more employees. we're also trying to help the workforce increase, especially in respect to diversity, with special training programs like the technical academy, where we'll recruit a diverse base of candidates who don't have technical background and we'll pay them to get trained. and then pay them to do an internship so they can be part of the tech workforce going forward. that's been a very successful program for us and i think purpose matters a lot. at akamai, our purpose is to make life better for billions of people billions of times a day and that matters for employees >> sure. communicating that is more important than ever. great to have you here thanks again >> thank you >> all right, after the break, join our virtual working lunch meeting. yes, we're going to do it

virtually once again jon fortt speaking with the ceo of career karma after this you could spend half an hour preparing for the half hour status meeting. orrr... you could cancel the meeting and share updates in slack instead. it's where your whole team is in one place so everyone can stay up to date.

slack. where the future works.

♪ fed chair powell's confirmation hearings today lots of talk about the tight labor market jon fortt bring us close with a founder in changing the job of training for jobs. who are we talking about here and what do they do? >> this is reuben harris the ceo of career karma. a startup that connects workers with coaching and training to help them switch to more lucrative jobs and raised $40 million series b roun. harris, he taught himself to value companies. he's also a trained cellist and credits his parents with pushing him to learn quickly.

>> my first language is spanish. when i went to school i couldn't speak english. my mother's cuban but we're very much black and a lot of teachers were confused about why i couldn't speak english. >> why couldn't you speak english? >> because my parents only talked to me in spanish. >> intentionally >> intentionally because their mindset is to grow up in america and learn the language so when you think about music and you think about code or just tech skills in general it is very similar because the way education evolving is less to just being instructal and being more immersive. >> harris ditched the banking world and moved to learn tech, started a podcast breaking into startups and then launched

career karma to help the community find coding boot camps and do it and now expanding to help education as a benefit. >> even though we have 3 million people a month coming to the platform and introducing 25,000 people per motto the job training programs that's still not the whole 3 million. just because we have boot camps that get people jobs in 3 to 12 months doesn't mean they don't want to explore other types of training so we are now working with different colleges to be able to match people to that type of training if that's what they want to do to get a job through that pathway and then the other thing we are doing is we are starting to work with employers. we are offering career karma as a benefit and employers are aggressive and starting to provide training themselves to attract talent but also to upscale and reskill the current

workforce. >> this is a similar approach to what guild education of colorado does why the idea that especially now companies need benefits to convince workers to come to work and stay and a best enticement is to be trained for a better job. >> quick question if i might he has an eclectic path obviously. seems like a self starter and largely self taught. english and coding what was the formal education like if you happen to know >> he actually studied music again, the cello and business at the same time and not specifically to do banking a cello instructor told him a lot of musicians don't pay attention to the business side and if they make it they get taken advantage. but getting his life together after partying in atlanta he focused on banking and then tech

and said maybe i ought to learn that. >> did he go to college and get a degree >> yes. >> interesting. >> kelly >> just curious where we go from here because it's a lucrative pivot for an employee benefit. yes, they have competition but it is a departure from the roots going this direction. >> there's a lot of attention on education technology ed tech for sure i mentioned guild education. hand brake the idea that the workforce needs to be leveled up traditional methods of four-year colleges and for-profit education don't necessarily have the right model and attacking the inefficiencies are there's marketplaces to get training because they pay orb because employers are paying. >> very well said. >> thank you for always bringing the interesting characters to

our attention. thank you very much. kelly? >> up next, who's winning the ev race we'll take a look under the microscope (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. your record label is taking off. but so is your sound engineer. 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

[copy machine printing]

♪ ♪ who would've thought printing... could lead to growing trees. ♪ tesla down 8% in the last week dom? >> kelly, if you think the company's going to dominate the

transportation business tesla always one of most searched tickers on cnbc.com. more attention today thanks to morgan stanley who upped the target stock price they keep the outperform rating. upping the estimates after much better than expected fourth quarter delivery numbers and say this is a marathon and tesla is at the lead other companies have gotten a lot more attention because their gains in the stock have done better than tesla. look over the last month or so, lucid is a stock that falls into that category. much newer public company. 2021 the year of heightened ev investor interest. will it be tesla or lucid or riverian that's the key question. >> i like the way he put that. he sees it as a race where

there's winners and losers we'll see what approach pays off. we appreciate it. >> all right thank you very much. thank you for watching "power lunch. what day is it tuesday. seems like it ought to be friday thank you for watching "power lunch. "closing bell" starts right about now. ♪ thank you so much. welcome to "closing bell." i'm wilfred frost. another roller coaster session on wall street following monday's turn around the nasdaq up more than 1% in the final hour of trade. >> looking at session highs. i'm sara eisen welcome. let's look at what's driving the action fed chair powell testifying on capitol hill as partof the reconfirmation process reiterating the aim to rein in inflation. the energy sector adding to gains already for the year outperforming today as oil prices pop and technology is also broadly