notable. nasdaq overall is down 1.5%, a loss of 180. and it's been really a point of concern. we'll keep our eye on that the rest of the day, see how it finishes up and talk about it perhaps in "overtime." and tom lee will join me in a few hours, as well his technician says, watch out until october. we'll see what tom lee himself has to say he's been bullish, as you know i don't think that's a big shock. i will see you in "overtime. "the exchange" is now. welcome to "the exchange." i am brian sullivan. here's what's ahead on this busy friday freight pain fedex shocking the street with a big-time warning that stock headed for its worst day ever how big of a sign is this for the economy or is this really just a fedex problem we'll talk about it. and as we try to decipher the economy, what is the action in energy telling us? gold hitting a two and a half year low isn't it supposed to be an inflation hedge?

we'll try to get advice on all of this. three buys and a bail, survivability edition. we have our reporters all over the market only 4% of the s&p 500 is higher since monday 13 companies have lost investors more than 10% of their money oh, by the way, it's also a major monthly options expiration day, which could jack up the moves into the close let's get to all of it dom chu on today's action, frank collin on more of fedex's red flags, and rick santelli on rates. crazy stuff continues. let's kick it off with the market data bank >> quadruple witching, which could add to the volatility as futures and options for many instruments start to expire today. watch that as we head to the closing bell but right now, we're kind of in the lower end of the trading range that we've seen. the dow industrials down about 315 points 1% downside, 1.25% for the s&p 500, down 50 handles, 3850, the

last trade there to give you an indication of where the range is, it's been down all day, but at the highs, we were down just about 21 points at the lows of the session, down roughly 64 tilting again more towards the lower end of the trading range today. the nasdaq composite index down 1.5% the biggest laggard down 111 points technology, a big part of the market narrative, but taking a backseat, if you will, today, to that fedex news that brian just mentioned and that big kind of rescindi ing of its forecast fo the full year. that's taking drown the industrial sector, one of the really underperformers, down 2.5% today because of that fedex news and general electric weighing on that industrial sector as well, after that company said at an investing conference that they are still see supply chain issues and that's having an affect on their cash flow. so ge shares under some pressure, as well. watch those industrials. and overall, when it comes to bright spots, because it's not all gloom and doom today, there are certain parts of the market

that are actually really outperforming right now. take a look at dollar general, dollar tree, and ross stores the discount retailers, as some of that more slowdown in the economy narrative starts to work its way through the markets overall. also, outperformers in that kind of environment in a slowing economy, possibly, are names like kellogg and clorox, that make consumer staples products that people really have to use, no matter what kind of an economy we're in watch those consumer staples-focused companies, bri, as well as those discount retailers. back over to you >> now to the story and the stock of the day, one considered by many to be a barometer for the macro economy. fedex on pace for its worst day ever, after delivering a huge earnings miss, and a dire warning that investors need to hear, and they are, by the way the market is listening. frank collin has more on what fedex had to say fedex freaking everybody out this morning, frank. >> yeah, certainly freaking out transports and investors fedex earnings dragging stocks

like union pacific well, on "mad money" last night, ceo raja ramainian said "yes" when asked if we are on the path to a global recession. >> when you see these things happen, i feel it's a leading indicator of something more profound the u.s. has been somewhat insulated, because the u.s. dollar is the currency of choice for the world, and there's some insulation there but i do see the u.s. as slowing down, too. >> the huge epps miss is raising some questions about execution issues, as opposed to macro issues expr express was flat year over year when it came to revenue, ground and annihilate actually up reopenings are slower than expected from covid lockdowns and the recelebration of the tnt network weighed on results and the slower delivery made less profitable the profit outlook for q2, essentially half of current estimates.

you remember, back if june, fedex raised its dividend by 53%. normally a sign of confidence in future business. i spoke with ceo raj subramanian back in june he said the company had strong pricing power, that obviously changed in recent weeks. cost-cutting measures will include reducing express flights and worker hours in addition to closing 90 fedex stores. i just spoke to fedex not long ago. they also said, there won't be any big hiring push. it'll they'll do some hiring, but not the tens of thousands they normally would. >> more than a handful of firms downgrading fedex this morning on that warning include bank of america lowering its rating from neutral to buy, saying it sees volumes collapsing joining us is ken hextra ken, this is -- i don't want to knock fedex's management, but this is a blindsiding. is there any other way to call it >> no, it really is. you can see by the reaction of

the stock, how big a surprise it is to the street, to investors they had clearly said just three months ago, their outlook for improvement and marked improvement. and yet, the backdrop, even back then, we were calling, you know, for continued decline in expectations, you know, our truck shipper survey continues to show a pullback it's below its intrarate recession period we do it a couple of months now, we've been talking about this. but, the flip side was that there was supposed to be the self-help that raj came in and there was supposed to be a lot of self-help going on to cut costs around this. instead, it looks like costs got bloated while we were seeing s volumes accelerate to the downside that's on him, right three months ago, to your point, they did not warn. walmart came out and warned. walmart came out, six weeks ago, whatever, their earnings came out, match what they warned. their job, the job of ceo and investors relation team is to

tell you guys and wall street what to expect but they -- let me give them the benefit of the doubt, ken. is it possible that the bottom dropped out in just the last 90 days >> clearly, that's the way that raj positioned it on tv last night. going back to our vsurveys and our calls, we've been talking about a decelerating freight involvement. you know that the port of l.a., the backlog has gone from over 100 ships down to 9 ships. we've seen the fluidity improve, which because of the declining demand, we've seen a huge preshipping ahead of the peak season, which means you'll have huge bloated ed inventories hog up demand is down we've been watching this for a while. they did note at their analyst day that they did not build in a downside into the economy. they were not calling for a recession in the economy, just a slight one at that time, it was the biggest

question during the q&a, was the state of the economy and trying to figure out how volumes were flowing. the big question, it's kind of mixed. more than just the fedex alone it's kind of, there's also self-issues here, where they were losing shares to u.p.s. and dhs, both of which have come out and reiterated their views on how things are going, and they're well within the quarter. you've got others that are taking share, so you've got certainly raj talking about a decelerating freight volumes at an accelerating pace into the end of the quarter and you've got the loss of volumes to come. >> this is what's so perplexing about the situation. the rail companies haven't really said it, the air freight companies haven't really said it, dhl hasn't really said it, now, maybe fedex is the canary in the freight coal mine maybe they will say it or fedex has got a fedex problem, if nobody else is saying it, and how do we win

will we know the answer to that incredibly important question, because fedex is helping take down the entire stock market today. >> yeah, no, i think your canary in the coal mine is a great example. i wouldn't put all of this call where you're cutting earnings in half on just the economy i'll go back to that truck shipper survey where it's been below our level for 11 consecutive surveys. we believe we've been at this for a while and we are going to see this as we move towards year end into the start of 23 port of l.a. is expecting an ugly start of the year we're seeing a widespread deceleration i think the extreme sample of getting earnings cut by 50% is, at this point, is partly a fedex issue that you talked about, some in the management targets and then the overall arching economy, which we do think is decelerating >> i want to be clear on the port of l.a., because i talk about -- i go to ports, port of

l.a. also did have its own problems it was almost a huge strike there and a lot of ships were going around from the panama canal to charleston to savannah. how much -- that's important to note the whole story. how much, though, ken, of this is china the flying business from china to the u.s., china has had covid lockdown policies crushing their own economy for whatever reason. how much of this is a china issue? >> yeah, no, asia has clearly decelerated greatly. we just hosted an air cargo call the other day and it is absolutely certain that we are seeing that deceleration again, i'm not taking all the blame off of the economy there is definitely deceleration we're calling that in our survey, seeing it out of asia, especially when you keep doing the lockdowns. there's definitely an issue there. and asia is definitely a hub for fedex. so that is very meaningful, when you talk about on the global economic slowdown. i was just saying, you can't put a call on just fedex being the

defining example, because part of it was self-inflicted but part of it is certainly the economy. percentages of how much that is, i think, are to be determined. but still, at least a big chunk of that is the deceleration you're seeing. and that's part of the call we've been making on the freight side >> we're going to find out if u.p.s. doesn't say it in the next 90 days, if dhl doesn't say, if the railroads don't sate, we've got a fedex issue. ken hoekstra, we've got to let you go from freights to rates, short-term yields hitting new multi-year highs the bond market makes some of the biggest recent moves we have ever seen. and i say this without hyperbole. what is this all telling us? rick santelli is at the cme with more am i overstating this, rick? >> you're not overstating it, because the markets are shadow boxing what the fed is doing and the fed is being historically aggressive and the reason they're being historically aggressive, just listen to the fedex. listen, i don't claim to be able

to figure out the future we know that forecasting isn't the fed's forte, either. but at the end of the day, it's pretty hard to ignore the signals and the big signal this weekend to state, it was on tuesday, cpi, year over year up 8.3, year over year up 6.3 let's go to the charts look at one week of twos notice the big spike up. that signaled the top and all of a sudden you see two-year just going up every day, today will be the seventh session in a row of higher yields but as you go to the 30 year, 30-year bonds are up 6 and if you look at that chart, what we saw tuesday happening in 30s and 10s, but it defined the range. it didn't start the liftoff. the fed is having a huge affect on short maturities. yesterday, the seven-year close above its highs at 357 the ten-year still has not fed fund futures, this morning, 16 contracts were making contract new lows. they've bounced a bit. let's look at march 1st, 2020 of

the december 23 contract it's implying basically a 4% rate it did make new contract lows. remember, the lower it goes, the more fed you put in. hyg. it's bound right now to be the lowest close since july, but if you look at it closely, it's near the lowest level since march of 2020. and finally, and this is the kicker, global recessions. look at the foreign exchange markets! the dollar versus the offshore juan has breached 7 on the close two sessions in a row. these are basically two-year highs. however, you have the bound at the lowest level since 85, the euro trading under parody. the yen is week, under 24 years. all of that, global recession, it's almost hard to argue you're going to have it and how will that affect the states that's the question the fed needs to study sully, back to you >> it was quickly a gulf coast goldman sachs study that interest rates could peak out

and that bond markets are thinking that we'll see a 5% peak fed funds rate. what say you to those predictions? 4% of the ten-year would mean like 7% mortgages. >> yeah, you know, i wouldn't doubt the 7% mortgages, but i will fight back on the ten-year. i continue to say that long maturities will find buying interests on the relative value trade of global recession. and i don't think the ten-year is going to see 4%, and if it does, it's going to be a grind to get there >> rick santelli, appreciate it, as always. all right, so as short-term yields continue to rise, my next guest plays for a rising rate environment. joining us now is simian highman, and maria chrin, circle wealth financial managing partner. maria, i'll start with you your clients are probably a little freaked out to use that same term i used at the top of the show kind of wondering, when and how cousi does this all end? how will inflation impact their

in-d investments? what are your answers to the questions you're no doubt getting? >> so, luckily, on the fixed income side, we have stayed short for a long time. and so the recent move in rates is an opportunity for us, because cash is no longer trash. in essence, cash can be very much a great opportunity in this environment. and so we have been taking advantage in the past few days of the fact that six-month and one-year treasuries are now close to 4%. we have not seen that in 15 years. cds cannot compare the highest cd now is about 3% so we've been taking advantage of the highest opportunity that we've seen in 15 years on the equity side, you have to stay the course. you cannot time markets. so, at this point, we're feeling confident that we can weather the storm. >> yes i mean, what's your take on this every time we think it's getting a little better, we just had a

cpi number that was red hot, but did decelerate a little bit. and today we're talking about fedex talk about the economy is going down the tank. >> there are some signs that ultimately the fed's work is doing some of its job. the break-even inflations for, say, the two-year and the ten-year are down in the mid-2s. so even though the near-term inflation numbers are high, maybe we get them down plus, there's possibly the domestic benefit of so much chaos around the world almost sort of a mini world war ii kind of benefit, where we're the only shop that's really open and fully operating. but, fedex really pointed to the big concern in this market and that is, while inflation is still here, can you keep those margins? fedex actually increased sales 5% year over year, but earnings went down 20%. so, i think as you're focusing on the equity markets, who can keep their margins one place you look are just the classic sectors that work in a rising rate inflationary environment. energy was up the last eight

weeks, even with gas prices down and financials were flat in the face of a down equity market but you can also look to companies with pricing power we like folks that have grown their dividends consistently over the years the s&p 500 dividend aristocrats expanded their margins in the first and second quarter, even in the face of shrinking s&p 500 margins. so there are some things that are a little bit safer, even in this challenging environment >> i'll follow up with you before i go back to maria, simian what about utilities in a rising-rate environment. i'll tell you why. i was talking about somebody who runs a utility fund. here's the idea. utilities are asking for and receiving rate hike increases. they're also being given potentially hundreds of billions of dollars under the inflation reduction act to build out renewable and utility-scale-type things they're not going away are utilities a good bet in this environment? >> i think you have to be a little bit cautious with utilities, because, again, it's this -- it's this dichotomy of

higher dividend yield versus growing dividends. and utilities historically, even with that ability to get some regulatory increases in prices, haven't been the best dividend growers. it's been a place where yields are high and that's one of the reasons why they've actually thrived most when rates are really low so i get your point. maybe there's a little extra juice for certain utilities that will participate in the green revolution but i would be a little concerned of higher-yielding places in a rising rate environment. >> we're going into the weekend, maria. it's friday, it's beautiful out here in the new york area. people are scared. they've been losing money. give us some words of comfort and solace as we head into, you know, september, the worth month of year historically for stocks. >> look, markets don't like surprises. we came into this week with a rally. everybody was expecting that we were reaching peaks. peaks in inflation, peaks in interest rates, and tuesday just said, nope, not happening.

so what you do is you have to buy things that are opportunities in this environment. for example, banks bank preferred reds are one of very good places that we have been finding solace and peace of mind they have dividends that adjust quarterly that are paying a spread that is quite attractive, around 7-plus percent, that adjust as interest rates adjust forward. so there are pockets of opportunity in the markets that we can take advantage to get that peace of mind having said that, we've been telling our clients, let's fasten our seat belts. we don't know if we're going into a hard landing or a soft landing, but we know it's going to be a bumpy road so know what you own and feel comfortable that you can weather the storm. >> a little comfort there, because it has been a bumpy road and apparently that road is filled with fedex trucks having problems simya highman, maria chrin, thank you both very much coming up, the fedex ceo says we're on the road to a global recession but what if the energy markets

give the markets a road map to navigate that downturn and with stocks set to post yet another big down week, including the nasdaq's worst stretch since june, how should you position your portfolio to avoid these wild swings. we have a volatility edition of three biuys and a bail dow's down 350 we're back after this. ♪ ♪ true loyalty doesn't come around often. but if you're lucky enough to earn it, it's on you to do everything in your power to hold on to it. to show that loyalty goes both ways.

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all right. welcome back to "the exchange. stocks may be falling on concerns about economic growth and inflation, but oil is actually holding steady. our next guest says it's going to take a real bad recession or worse to knock out oil and we are not there yet. joining us is dan pickering, chief investment officer at pickering energy partners. and in the past 60 years, even in recessions, oil demand globally has only gone down 10 of 60 years, dan that's important to remember, that oil demand is very inelastic in most cases. but what are you watching, of course, besides fedex? >> sure, brian good to be with you. i think the thing you watch on a short-term basis is inventories. we get really high-quality inventory data every week in the

u.s. and what that data is showing us now, it's been a little sloppier in the last month, let's say, but as gasoline prices have come down, it's moderating. and so we have absolute low levels of inventory and u.s. inventory is basically showing a picture of okay demand, not great demand, but certainly, nothing terrible showing up yet. >> i look at weekly product supply as they call it, it's fluctuated a bit, but it's remained fairly robust and let's not forget, the price of oil, despite the biggest spr sales in the history of america, and china being locked down, the price of oil is still at al bucks a barrel what should that tell us >> we would be 100 plus if we didn't have these recession fears. that's our view. we have a really tight supply demand a ukraine/russia conflict,

that's taking barrels out of the ma market sanctions are coming, that are tougher. the reality is crude markets are dialling in a softer environment. still pretty good for the oil patch. >> and i have a hard time reading oil. i was bullish on it as much as i can be bullish on something. but here's where i'm having trouble with europe. number one, we got news that germany will internationalize companies and seize refineries in germany that seems like a pretty big deal to me at the same time, i can also see germany and the rest of europe going into a deep recession, if not worse, crushing demand is there a clear way to balance out and the bull and bear case

around europe. >> remember that from an oil consumption perspective, europe is one of the smaller developed demand drivers, so i think europe is going to muddle through. my expectation is, zpst probably nonconsensus at this point, i think putin turns on natural gas. i don't think they want to evaluate the situation anymore than it already is and so, my expectation is europe muddles through, tries to find new sources of energy supply, and the reality is, they're going to be hurting for the next 24 to 36 months, on the energy front. they will find new pathways, so i expect the recession there slightly softer than here in the u.s. china, at some point, covid goetz finished, we don't have a lot of new supply editions that's the secret, i think, we're not addressing the supply

side of this story in energy, so as wind recovers, we'll see continued high price, because price will react no new supply, price will go up. >> and in fact, rig counts coming up a little bit we're still well down, just, i guess well down is probably an apt pun. dan pickering, we appreciate the view, my man thank you very much. >> thank you, brian. >> well, oil is not the only commodity that is olding up today, as stocks go down gold and silver have both been lower in the trading day catching a little bit of a bit here as is dr. copper what are the metals telling us about the direction of the economy? that's what we're trying to figure out today joining us now to help us, carter worth, founder and ceo of worth charting i'm going to start with gold, copper or something else, carter >> let's talk about all of them. conceptually, there is an inverse relationship between precious metals and industrial metals one is an indicator of economic

activity industrial metals, copper, particularly, the other is a safe haven but interestingly, if you look at a one-year return of industrial metals versus precious metals, those are two indices, and precious metals, simply gold and silver, they've delivered the exact same return over a 12-month period, each down about 10% of course, the industrial metals spiked in relation to the war, in response to the war, and a mean reverted back but here and now, actually, we like copper and we like oil, we like oil for a balance here. we like copper for a bounce. and we can talk about gold, we like gold for a bounce >> how is oil, what we just talked about, setting up to you? why are you saying there may be a bounce ahead >> sure, so sentiment or positioning, when we went, it was in six days from $90 a barrel to $130, up 45%

wall street extrapolated to 200. you can extrapolate a trend, but not a parabolic move, a parabola did we go to 200 we collapsed we got the exact opposite. people are now extrapolating recession, oil to 60 or worse. i think you take the road less traveled, as it was right to fade oil at 120 or 130, it's right to buy it here, down in the mid-80s. >> oil was 1.25. how does the longer term trade in oil look, carter? >> if you can see this, we're kind of where we belong. i would consider this, also, two things oil, while it might be high in the mid-80s, adjusted for inflation, it's not high at all, compared to where it's been. so, also, energy shares, look, they meant money, cash flow is fantastic here at these levels we like energy shares overweight to the s&p , and we like oil, te

commodity for a bounce >> carter worth, confirming the possible uptrend in oil. a real pleasure to get you on. thank you much still ahead, the white house is out with its first-ever framework on regular utilities the kcrypto industry. what's in it and why it might matter to you. as we head to break, a look at the worst performers on the s&p 500. fedex is a terrible day, the worst day ever for that stock. still not enough on the week to be worse than adobe. adobe has lost a quarter of its value for investors, just this week so, who else is losing a little bit of steam and your money this week well, nucor steel, eastman chemical, international paper, theyou o rndut the list. all down 16% an ugly week "the exchange" is back right after this

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all right. welcome back to "the exchange. another tough market day, as you can see. i'll give you a little bit of upside, that is the dow is well off its low. the nasdaq continues its weak links, down 1.6% before we get to the movers, i want to reiterate something we talk about all the time on wex, 5:00 a.m. eastern, that is market structure, options positioning. remember, today is quadruple witching we are seeing four different types of options expire. so we could see a lot of volatility heading into the final couple of hours of trading. here are some of the movers at this hour. jeffries, cutting a pair of paper stocks to underperform international paper, packagingcorp of america, they

are both sharply lower you can hear from the analyst behind that call next hour on power lunch. and don't forget, it's also iphone 14 launch day and there are people that still line up outside of apple stores to buy the new phones. go figure. that's not helping shares of apple today. that stock is on track for its third down week of the past four and its worst one since june it's, a rough run for eever eeverybody brian, thank you so much here's what's happening at this hour, everyone ukrainian president zelenskyy says evidence of atrocities have been found at a mass burial site discovered in an area recently freed from russian occupation. mark milley said war crimes cannot be hidden after he was informed of the burial site. a u.n. human rights team will investigate the deaths of the people whose bodies were found there. paypal says it will not renew its big sponsorship deal

with the phoenix suns unless owner robert sarver cuts ties to the team the nb suspended and fined sarber after a probe found patterns of lewd, misogynistic, and racist speech during his time owning the team in london, people can once again queue up to view the queen's coffin, but there's a catch. the wait has soared now to more than 24 hours, more than a day officials are warning people to prepare for cold weather overnight and few breaks to sit down, as they try to keep the line moving. tonight on the news, the final preparations for the queen's funeral on monday and which world leaders are expected to attend. join me, yeah, me, tonight at 7:00 eastern on shep smith's news back to you. >> looking forward to seeing you at 7:00 tonight, tyler thank you very much. i'm sure you're looking forward to being here. coming up, gena sanchez has three buys and a bail to survive the market volatility, including

this one that she says is not getting nearly enough credit we mentioned fertilizer stocks hitting new highs today. is this ag tech name next? that is deere. we'll talk more about it the schexchange is back after t. ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. go. go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed,

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all right. welcome back i probably don't need to tell you this, but i will, because it's my job. another volatile day on the markets. stocks on pace, the s&p 500, now closing below its 200-day moving average for the longest stretch since the financial crisis 14 years ago. and don't forget about something i harp on all the time on worldwide exchange, 5:00 a.m. eastern. market structure, a big options expiration date today, and that can certainly increase volatility and down moves heading into the close not a warning, just something to watch. it's all happening, of course, ahead of the fed rate hike you might have heard about with all of that said and going on, how you position for safety here let's welcome back gena sanchez, cnbc contributor, and she has got a volatility survival guide for us today, including three bias and a bail. health care, merck outpacing the averages, gena

this is your healthy buy play, i would imagine. >> absolutely. this is a stock we have owned through the pandemic this is a stock that has about half the beta of the market and in volatility, you want to reduce your beta but despite that, it is a strong performer. it has done extraordinarily well revenue has grown, not just because of keytruda, but because of guardasil, the hpv vaccine. so if you look across their drug pipeline, they have 116 projects in various stages of their programs this is a company that's got a tremendous pipeline, very strong forward expectations and is priced really well and it's cheap. it's amazing how cheap it is and it's paying a 3% dividend yield. >> we've got to eat, we've got to wash, and lord knows we've got to put mayonnaise on everything, extra mayonnaise on everything

and that may be a good reason to buy unilever they own best foods and helmand's. >> and they own -- quite frankly, now that we're back in person in a lot of ways, you know, showering is back in vogue so unilever is one of those companies, it's domiciled in europe, but 78% of its revenues come from outside of europe. it has been extraordinarily well this is another one that has reasonably low beta, but paying a 3.6% dividend yield. cash is great, defensiveness is great and this is something you need >> they just built a giant new building next-door to us, and if i see a lot of new cars going in, that will be any signal on unilever final buy is deere, still up 2% for the year four straight positive year, a company record you think there's more room for deere to run

>> i do. i think deere is getting hit because they guided lower. the reality is is that ag tech, which is where deere has leaned into in terms of really building more and more technology into their tractors and into their various pieces of equipment, that's only going to go up right now, prices are soar ing n agriculture and food, so the need to boost crop yields is very high and farmers are making those investments. >> those are the three buys you would like, but there is one to grow on. snap, snap has snapped the stock down 80% is there any reason to own this? >> there is no reason to own this this is high beta, really high beta, and it's not that useful,

and if you look at what snap makes its revenues, it's from advertising. and advertising just hasn't come back yet and i think with all of the turmoil with the fed raising rates, expectations of a rece recession, ads just aren't coming back in the same way. while it may be cheap, it's cheap for a reason and this is one to stay away from. >> what do they call that , a value trap just because it's down 80%, it's got to come back -- no, that's not true, there are companies that disappear, period >> absolutely. this is one you've got to steer clear from >> there we go, gina sanchez, thank you for not steering clear of us. >> thank you it is not just stocks getting stomped on this week bitcoin down 8%, back below 20,000 bucks, and today, kcrypto regulation taking a big step forward. more than 30 years after the original series ran, "quantum leap" is back, a new series premiering monday 10/9:00

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like pretty much everything in the financial markets, bitcoin having a rough week, down 8%. but one key question surrounding crypto could soon be answered. what will any new regulation look like? ylan mui joining us with a look at the biden administration's plan ylan >> reporter: well, brian, the white house released its first framework for regulation today the goal is to mitigate the downside risks of a volatile industry and harness the benefits where proven. and that means stepping up enforcement, potentially tracking environmental impacts, and working toward a central bank digital currency. white house economic adviser brian deese told me that regulation can actually help foster innovation. >> financial innovation has a huge opportunity to drive productivity and drive benefits in our economy, but only when we take seriously and focus on the

risks, both that we can and see that can develop very quickly. and we have seen when we don't do that, we not only end up with episodes that can hurt millions of americans, but they can stamp out potential innovation in the future >> now, the reception from industry was chilly. the block chain association called it a missed opportunity and a top republican lawmaker accused the administration of focusing on the dangers of digital assets instead of the possibilities. now, brian deese told me that the white house is committed to including in the conversation industry groups, as agencies begin to griftcraft those rules. >> ylan, thank you very much up next, check out another mystery chart. this is actually a mystery we kept the name off shares are down nearly 68% this year, but that is not stopping the company's high-profile ceo from buying the most of its own stock that we have ever seen in insider buying $350 million buy this week who is it?

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♪ welcome back i want to get you two tech

stories you might have missed this week. the first one is a historic time for insider buying as you know on worldwide exchange every friday we do the week's biggest insider buys. five, four, three, two, one. top five this week we saw the single largest insider buy ever facebook co-founder and asana ceo buying $350 million of the stock. the transaction occurred this week that is the single largest insider buy since we began doing the segment two years ago and now he's bought 1.6 billion worth of the stock this year the second story, the big move in shares of adobe 25% this week after the company struck a deal to buy figma for 20 billion the market hated it. joining us now is senior research analyst at piper sandler.

let's talk about asana 350 million is 10x the next largest we have ever done. i love the confidence, but what's he doing? why by 1.6 billion of the stock that you already own a few billion in stock of? >> sure. trying to predict what billionaires do with their money is hard. but i think what dustin is really playing here is a long game if you think about the long game for asana this is a technology executive that helped build a very successful consumer business, leveraging graft database he's in the early stages of leveraging a graft database to help connect workers and co-workers and there's some proof points out there where they have largest customer basically that has over 100,000 employees that are all paid subscribers using asana to help

better coordinate work today, 2 1/2 billion paid subscribers, if you think about a billion-plus knowledge workers out there, dustin clearly sees a big opportunity. him and another co-founder own over 50% of the stock. part of this is an important narrative for wall street given how aggressively they're investigating in sales and trying to grow the business. this really latest insider buy will create a fully funded model. this creates a clear path of profitability and that's why when this was announced two weeks ago, the stock reacted the way it did. >> by reducing the number of shares outstanding, you increase the -- what -- is there a chance he's -- is there a chance he's trying to buy the company back and take it private? >> certainly we have no idea what the long-term intent is here but clearly put money to work here this was a private placement the company will actually issue

him more shares and they'll be able to use that cash to basically fund operations until this business is profitable. >> let's move on to adobe. adobe is the worst stock in the s&p 500 this week. it's down 25%. i get it you don't have to like a deal, but, man, the market has hated it gosh >> i'll flip the script a little bit. i don't think necessarily the market hates the deal. i think if i think about adobe plus, i think it's a better business i think people are pushing back on the price tag 50 times arr is a very significant premium. adobe is going to have an analyst day here in a couple weeks. we'll be able to drill down a little bit on why they're so bullish on the potential for figma. we'll hold some of our concerns -- >> do we want to own adobe now

if you like the company, it's down 25% is this a buying opportunity >> it all depends on how meaningful figma could be. there's a risk that they mortgaged five, seven years of their future for the price they paid or this can be a 3, $4 billion business. i think it could be interesting down here. we'll know more in two weeks >> looking at asana with these massive buys, adobe. appreciate it. thank you. >> yeah. boeing, the ceo saying yesterday that it's still experiencing supply chain snarls but it also has an inventory issue. what boeing is doing to remedy the situation next. markets still wndo not down as much as they were, tough market day on a friday we're back after this. your projects done right

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like most of the market, shares of boeing taking a hit this week. down more than 9%. now the company is taking steps to move brand-new planes that have been sitting idle which could help boost cash flow give us a little good news here. >> brian, this involves 737 maxes that has been parked for a couple of years. they continue production even though the plane was grounded by the faa and about 100 of those are scheduled to be delivered to chinese airlines we know the state of relations between the u.s. and china when it comes to trade. they're not going anywhere any time soon. yesterday the company's cfo said we have deferred decisions on those planes for a long time we can't defer that decision forever. so we will begin to remarket some of those planes, remarket meaning selling those planes, that were otherwise earmarked for our chinese customers. keep in mind that boeing is producing the 737 max at about

31 per month they're seeing strong demand dave calhoun did say they're experiencing supply chain challenges as you take a look at shares of boeing, keep in mind, they have not delivered a max to china since march of 2019. brian, they want to continue delivering to china, but it's not going to happen any time soon and at some point it makes sense to move some of those 737 maxes that have been parked. >> thank you very much appreciate it. we are well out of time. we'll see you next week. "power lunch" starts now ♪ welcome to power lunch here's what's ahead. stock slide as investors grow concerned of the health of the global economy amid the warnings there are new opportunities emerging, especially in the fixed income market. we'll explore why bonds might be a credible alternative to stoc