league technology companies. they're leading the market higher this morning. one of the big reasons for the rally is this, the drop in the yield on the 10-year treasury. when these yields come down stocks tend to go up and yields are down today, big time. my time's up. but gerry baker in for neil today . gerry: i'm gerry baker in for neil. big tech is starting the month in the green after the nasdaq suffered the weekly percentage loss since october of last year. let's look at treasury yields retreating from the highs of

last week this is partly driving markets so much higher. we had a big spike in yields over the past couple weeks. the treasury yield slipped back to 1.44%. former stock exchange chairman nick grasso will join us forehis take on the markets. first to edward lawrence what is moving the buoyant markets this morning. edward? reporter: gerry, the treasury yield down, market way up on positive news about the economy and the coronavirus. the ism manufacturing number for february came in at 60.8. anything above 50 is expanding. at the end of last week the market concerned about the 10-year treasury yield t has dropped way back down to 1.428. in fact over the weekend the richmond fed president said he is not worried about the increase in yields. as the federal reserve chairman has said there is pent up consumer demand out there. the fed will continue to support

the economy even if inflation creeps in. look at online retailers. the market is being look forward. it sees consumer spending on the horizon. on the virus there is a third vaccine has been approved. johnson & johnson, it ships the first doses today. the seven day moving average for new coronavirus cases is back down to where it was last october. hospitalizations also down, about 47,000 yesterday. the last time it was lower than that was october 30th. so there is a lot of positive feeling for the first day of march now. on the other side of that, the cdc director says, dark days could be ahead. >> not time to relax the critical safeguards we know can stop the spread of covid-19 in our communities. not when we are so close. we have the ability to stop a potential third surge in this country. please -- in your convictions. reporter: that was about 30 minutes ago. the numbers today do not support

that. 15% of the u.s. population has had one dose or more of a vaccine. 96 million doses have been pushed out so far. that does not include the johnson & johnson doses. those are going out as i said today. 2.4 million doses a day is what is being put into arms. the expectation is that it will be more than 3 million dose as day when that next vaccine gets available. looks like it will start tomorrow morning according to the white house covid advisor. gerry? gerry: edward, thanks, everything that is, should be going up is going up and everything should be going down is going down. it is about a perfect combination for markets. thanks very much indeed for that edward. goldman sachs has been telling investors not to worry about rising bond yields which was the big story over the past couple weeks. let's get to capitalist pig hedge fund manager jonathan hoenig and former dallas fed advisor danielle dimartino booth. thanks to you both for joining me. >> thank you. >> thanks for having us. gerry: danielle, start with you,

we've seen a rapid runup, back down again in treasury yields. back down as we saw in the low 140s. i'm having a hard time believing this is all to do with inflation, that market expectations of inflation change so suddenly in the space of a week. i think there were technical factors last week driving it but what is your overall take on this? is this, are those fears maybe people had the stimulus would be too much, that it was unnecessary, that we were delaying further demand on the market economy whether it was already quite strong it, would be overheating, are those fears receding or are those fears still around? >> i think it is a to be determined kind of a fear. we've seen some studies, we've seen some data that the last 906 billion-dollar bill, only 20 cents on the dollar, 20 cents of every taxpayer dollar of fiscal spending was put into the economy. the bulk of it was saved. so what they call the multiplier

effect is not certainly what you would want for it to be and that suggests that overheating impetus might not also be what you would think of with another two trillion dollars coming down the pipeline. that being said what we're hearing from american manufacturers that they cannot source, freight, shipping delivery times. they're so out of hand. you have to go back to data from the 1970s to see supplier delivery times where they are. even if they don't necessarily have this bulge of demand for their products they can't get what they need on to the factory floors. if they want it any quicker think will have to pay up. these do not appear to be receding very quickly. i think that that is some of the tension that you're seeing, some of the tug-of-war you're seeing between the bonds, bulls and bears in the bond pits right now. they can't figure out how long transitory is going to last. we have zillions of fed speakers this week culminating with powell on thursday. i'm sure we'll hear a lot more

about the need to calm down. this is going to be passing phenomena. gerry: jonathan, i'm looking again at these markets still rising. the dow is up nearly 700 points, over 2%, all major indices up over 2%. treasury yields significantly down today. are the markets priced for perfection now in terms of the economic and corporate outlook, including interest rates? if so, are they going to be disappointed, jonathan? >> gerry, they're signaling that the economy is bouncing back. rates are rising. stocks are right there near all-time highs and the economy is bouncing back without the stimulus. as danielle pointed out a lot of that first stimulus, trillion some dollars hasn't even been spent yet. this is a long-term risk in markets the rise in interest rates is not because of anticipated inflation, because of all the government spending. think of all the bad ideas that came up because the sense that government has to do something, in this case spend trillions of

dollars, really for political purposes. go back to the great depression. roosevelt, all the new deal programs, government having to do something, we're still dealing with them today. that today, gerry the political effort takes over the economic effort and we get tons of government spending that drags the economy down. gerry: thanks, jonathan, danielle. we'll be back in a minute. describing a chicken and egg situation here. the market is excited because they like extra two trillion dollars in stimulus or the market thinks the economy is so strong and the two trillion dollars of stimulus will not being necessary. looking somewhere between the two at the moment. as danielle said, a lot of direct stimulus is not going to help the economy. we'll have you both back to talk more about later. markets may not be worried about this next story immediately, but investors, all investors elizabeth warren is unveiling a wealth tax on americans, a plan

for a wealth tax, legislation wealth tax on americans worth over $50 million. let's have reaction from former new york stock exchange chairman and ceo, dick grasso. thanks for joining me. >> gerry, always great to be with you. gerry: talk about the wealth tax proposal, elizabeth warren made a big deal through 2019, 2020, she was running 2% tax on assets over 50 million. extra 1% on assets over a billion dollars. most people seem to think these wealth taxes are pointless at best because most, very hard to nail down. most countries moved away from wealth taxes. what do you think will lap to this one? >> well i think she will find a tremendous level of support in cuba and venezuela for that tax. gerry: yeah. >> having said that, i don't think the tax -- gerry: they don't have any wealth left to tax in those countries. no wonder they like it. >> gerry, i think the tax is

just folly on the part of senator warren. you know, in reality americans aspire to wealth. whether you're at the bottom of the ladder or at the top of the ladder. confiscating gains makes absolutely no sense. it is totally, totally the antithesis what america was built on. gerry: what do you make of this administration so far, dick? you know, it is striking, biden won the democratic nomination supposedly because he was the most moderate, the one you could trust the most familiar to voters and you know, who might have been scared away by all the progressives with all the progress serves plans for wealth taxes and for unrestricted immigration and all the other kind of things that a lot of these democrats were proposing. he comes in, seems the first month basically following the progressive agenda, isn't he, on

all fronts? markets don't seem to mind. they seem reasonably happy. what is your take on it? >> well i think markets are basically looking at the economic fundamentals. a reopening of our economy. a fed accommodate tough policy. but at some point the market is going to look at, and look for the moderate joe biden that got elected. he certainly hasn't, you know, performed as one would have expected a moderate, a senator joe biden, a former vice president joe biden to have acted. some of the things that have happened in the first six weeks are absolutely the opposite of what most people expected. you know, you listen to some of the commentary out there, gerry, i suspect a lot of americans, who supported president biden, are now in a period of buyer's

remorse. gerry: dick, let's switch gears a little, talk about regulation which is another thing that the democrats obviously generally seem to be very enthusiastic about. robinhood and gamestop mania we saw so much a month ago they're expected to take center stage in washington this week as president biden's top wall street watchdog picks for both the sec and the cfpb, they head to capitol hill for questioning. they both seem to be quite enthusiastically received by the progressives in the party, gary gensler and chopra. is this a sign of administration looking for a pretty aggressive financial regulation approach? >> i think, let's start with the sec and gary gensler. he has long experience in financial markets both on the equities and on the futures side. gerry, it is important to have

high quality investor sensitive regulation. not a political theater which we're going to see in the confirmation hearings, but the two nominees for cfpb, gary at the sec, taking a real constructive approach to what has happened, whether robinhood or any of the e-commerce platforms and asking a simple set of questions, what peace good for public confidence in the markets? not if you will, draconian regulation but intelligent investor protection and if they do that it may not satisfy the progressives but it will certainly satisfy the markets and help this new generation of investors that we've seen, whether it's robinhood or some of the other platforms. so i have always been a great advocate of quality investor protection regulation but you

know, draconian measures just designed forepolitical purposes make no sense. gerry: very briefly, dick, got to go, but the episode over robinhood with the concerns people had, did you think that revealed fundamental market failures that need correcting by regulation? >> well there are a couple of quick observations. number one, when you have hypervolatility, gerry, the markets and the fed should work together to impose 100% margin. that takes away the borrowing capability, whether investors are borrowing from their brokers or from their grandmothers. on the flipside of that, the short sellers, there has got to be enforcement of the so-called prior borrow or locate rule. so that you don't end up with 150% of a market capitalization of an issuer being on the short side. that's against the law.

that is naked short-selling. just those two principles i think, then allowing the free market to function, everyone benefits. gerry: dirk grasso, thanks, good advice there we'll watch the hearings later in the week. thanks for joining us. president trump is teasing a 2024 run, surprise there, and putting his critics on notice while speaking at cpac over the weekend. how does the party move forward from here? we'll discuss that after the break. stay with us.

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♪. gerry: let's look again after those markets. another very strong day to start the month here on wall street. see the markets all around or at all-time highs. the dow just off the all-time high which is touched earlier today. s&p 500 is little bit down.

the nasdaq has been close to, up to all-time high. these are very strong market performances. people getting excited about more stimulus, about more vaccines in particular, about the strength of the economy, also some of those concerns that people had about inflation seem to be easing as well. of course there are other stories. saw one of the big ones over the weekend. donald trump teasing a 2024 presidential run. the former president closed out cpac with his first major speech since leaving office, blasting his successor, calling president biden's first month in president the most disasterous of any president in modern history. hillary vaughn is live. reporter: gerry, president trump presented himself as the king-maker at cpac. he came on stage last night ready to names of people in congress he thinks have not had his back and won't move the party forward. trump says he is going to use 2022 to go after some of those rivals that are up for

re-election. >> but if republicans do not stick together the rinos that we're surrounded with will destroy the republican party and the american worker and will destroy our country itself. but the republican party is united. the only division is between a handful of washington, d.c., establishment political hacks and everybody else all over the country. that is why i'm announcing that i will be actively working to elect strong, tough, and smart republican leaders. reporter: president trump teased to the crowd about another run for the white house, asking them on stage, do you miss me yet? he says who knows. he just might run in 2024 but he also defined trumpism as a winning strategy for the party moving forward. he says that means great trade deals, low taxes, low regulations, strong military and law enforcement and strong

borders. he also slammed president biden for his slew of executive orders, shortly after taking office. >> border security is just one of the many issues on which the new administration has already betrayed the american people. he didn't talk about this stuff. i debated him. he wasn't talking about this. he wasn't, he signed those executive orders, they weren't things that were discussed. reporter: gerry, cpac does a straw poll at the end of their conference every year to see who people in attendance want to be the nominee in 2024 and president trump was at the top of the poll but coming in second was governor ron desantis. gerry? gerry: thanks. i saw that poll. it was basically trump above 50. ron desantis in the 20s. nobody else higher than about two or three percentage points. that tells youd mood, certainly amongst the cpac members. thanks very much, hillary.

how does the republican party now move forward after this? let's bring in "the hill"'s editor-in-chief bob cusack. thanks for joining me. >> hey, gerry. gerry: president trump was there on classic form attacking enemies, enemies on the right. enemies on the left. enemies everywhere. rinos like mitch mcconnell and liz cheney. wouldn't have thought of those as rinos a few years ago but they are. it was lapped up. they loved it in the audience. no question a lot of republican voters will love it, it is kind of civil war in the republican party, isn't it? >> without a doubt. mitch mcconnell and donald trump haven't talked in a while. they will be at odds with one another in open senate primaries in north carolina and potentially ohio. they may get behind the same candidate but they may not this is going to be a tough time i think for mitch mcconnell because donald trump, despite all the controversies, the riot, his standing in the party is very strong and if he does

decide, i mean, whether he decides to run for president or not, he will freeze the field. whether you're a trump ally, desantis, pompeo, pence, you will not be able to run if donald trump gets in the race. gerry: speaking with looking at the markets. donald trump used to enjoy closing the markets when they were hitting repeated record highs in his first months in office. same for joe biden at the moment. the record highs, some of these strong stocks doing extraordinarily well. bob, with the republican party as you say there is tension within the party but it is president trump's party. if he wants to run in 2024 and he kind of teased it at weekend, despite the misgivings some of those leaders in congress may have, he is unstoppable, isn't he? >> i wouldn't bet against him in a primary. there are some people who don't think he is going to run or definitely think he will not run. those are the same people who said maybe he won't run for a second term. they're wrong. he is clearly considering it.

the next step as you mentioned, gerry, is, we're going to gauge his power based ponkan he take out some of these house and senate members who voted against him on impeachment? listen, they are, they are in trouble because donald trump's record in primaries is fantastic. gerry: that will be a big test, some, we already seen some of those state parties, liz cheney's state party in wyoming, ben sasse in nebraska. he is not up. so he doesn't have to worry. >> right. gerry: some of those candidates will face real pressure if the former president is campaigning against them. one other big topic, bonn, from cpac, capitol hill, some democrats are threatening to delay stimulus checks but want the minimum wage hike $15 which the senate parliamentarian ruled out. they want that back in the measure, get the 15-dollar minimum wage plan through. will this be a serious holdup for the covid relief bill?

or will they back down? >> they will have to back down. they're coming up with plan b, doesn't seem that workable penalizing large corporations but wouldn't penalize small corporations. they will not back down to overrule the senate parliamentarian. only people talking about that is in the house. it is in the house bill, the minimum wage, they have to pass it in the senate and pass a different version in the house. this will be pretty quick. gerry: any chance the bill in some form doesn't get through the senate? 50-50 senate but key vote from senator manchin from west virginia, he will support it and assuming they do the reconciliation process goes through on vice president kamala harris casting vote. >> i think that is what we're looking at. with minimum wage off the table in the senate that was the last obstacle for the bill. there will be some drama. that is a very good prediction, 50-50. harris is the tiebreaker.

this will get to bide's desk. gerry: important that all the measures go through with no majority. thanks, bob. >> thank you. gerry: cruise lines seeing a major pop on wall street along with the other green on the screen there they're getting that from the johnson & johnson, news about johnson & johnson getting green light to start getting vaccines. more "cavuto: coast to coast". ♪

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♪. gerry: march has come in like a lyon as far as financial markets are concerned. stocks on pace for a record close today. one of the reasons investors are so bullish, the $1.9 trillion relief bill passed the house.

now the bill moves to the senate. fox news correspondent jacqui heinrich has the latest. reporter: good afternoon, gerry. senate republicans are united against the $1.9 trillion package the democrats passed over the weekend. the gop circulate ad breakdown of the various gripes. the biggest sticking points include $100 million for silicon valley underground rail project, dubbed pelosi's rail to nowhere. billions supported climate change and rental assistance as well, several states have not figured out how to distribute the last batch of funds while congress is weighing another $20 billion for the same cause. school funding is taking considereddable heat as much won't be spent for years. >> school aid, 95% of the dollars in 22 through 28.

in other words not this year, but out years through 28. this has nothing to do with covid relief. it is a liberal wish-list. reporter: democrats punching back with polls that americans support the bill as it stands. they're using budget reconciliation without republican support. they can't lose any democratic votes. joe manchin voiced concerns about the minimum wage hike. the senate parcel men tehran said it cannot be passed a bill through this process. they readied back up plans penalizing corporations who don't pay $15 an hour. as of yesterday it gained no traction. mitt romney signal ad more modest minimum wage bump, $10 an hour. where the minimum wage issue falls is likely to have a big impact on the fate of this bill. gerry: thanks, jackie. as we heard less to do with covid relief more to do with political relief. certain political members. thank you very much indeed,

jackie. what certainly seems to be driving the market again higher today the good news, we're getting more good news own the vaccine front. this weekend the u.s. set weekend record for daily covid vaccinations. hospitalizations have hit the lowest number since early november 2020. more good news on the approval of the johnson & johnson one shot vaccine will roll out in days. let's talk with a doctor whether we're on the right track getting past this pandemic. doctor, thanks for joining me. >> thank you for having me. gerry: let's start with the johnson & johnson vaccine. it has approval. it is the third vaccine to be approved in the united states. different that it is only one shot. looks like very good news. how quickly expect it to get into the arms of americans? more importantly how quickly do we see the beginning of the end of this pandemic? >> likely find its way into the

arms of americans this week. remember the early distribution is about 3.9 million doses. it will not be a lot this week or next week. it will be likely a little bit down the road. by the end of march i think you will see the johnson & johnson vaccine begin in ernest to get into peoples arms. any amount of increase in vaccination will have immediate benefit on the american public and on worries about hospital capacity. this is great news to have such a simple one and done vaccine available to the american public. gerry: while you're speaking we continue to look at the markets continue to be very strong in part because of rising optimism, beginning of the end at least of the pandemic is upon us. let's turn on that question, with, you mentioned obviously it is relatively show rollout, initially for j&j vaccine. pfizer and moderna continue. perhaps more vaccines in the pipeline. with number of americans presumably already have immunity from prior infection we're getting up towards really significant number of americans

in total. seeing up on the screen, 75 million vaccines have been admin. sistered. 50 million americans, one in six have received one, at least one shot of vaccine already. again as i say, with those infections, people have immunity through infection, we're getting pretty close aren't we, to levels at which this virus, may not be herd immunity or levels which the virus will significantly recede? >> we're not at the herd immunity threshold, any level of population immunity is around 1/3, little more than 1/3 of the population has prior immunity from the infection. that makes it harder for the virus to spread. you see benefits of people protected most likely to require hospitalization or have serious disease or die. that is already happening. that is why we see pressure lifted off of hospitals. that is the first thing we'll see pressure on hospitals lift. that will give some optimism to hospitals for good reason. it is also going to give some

flexibility and public health guidance when we have the vulnerable populations through vaccination. we're seeing that with nursing home deaths down, nursing home cases down. i think before we get to the herd immunity threshold, things will get better, the speed of the vaccination will play a major part in that. gerry: linking concern about the uk variant,nes have slightly lower efficacy against those, how much of a concern is that getting through this. >> the uk variant isthe vaccinef that so we have to get vacs scene in peoples arms to stay ahead of variant. south african, brazilian variant may not protect but keep you from serious disease hospitalization and death. even if the serious cases the vaccine prevents what matters. the goal is to get the vaccines in arms to lesser concern of

variants. the primary concern should be to get vaccine in people's arms now. gerry: doctor, thank you for joining us. let's look at some of the stocks helping to drive the rally as we head out for a break. draftkings, boeing, way fair are soaring higher. they like the idea people will spend a lot more money. boeing is up significantly on presumably travel is starting to come back. the whole range of stocks we're seeing, very broad-based rally on rising optimism that the end could be nye as far as the virus is concerned. we'll stay on it on "coast to coast".

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gerry: pressure seems to be mounting on governor andrew cuomo. the democratic governor turned over control of the investigation of harrassment claims to new york state attorney general. he did that under pressure to do from his own democratic attorney general.

bryan llenas live in brooklyn where the latest on the investigation stands. bryan? reporter: gerry, over the weekend 25-year-old charlotte bennett accused governor andrew cuomo making inappropriate remarks about her sex life. essentially she says she felt as though the governor, wanted to quote sleep with her. she told these allegations to "the new york times" over the weekend saying cuomo made her feel incredibly or horribly uncomfortable and scared she would lose her job. by sunday evening the governor issued a rare apology, a lengthy one at that, in part at work sometimes i think i'm being playful, make jokes i think are funny. i acknowledge some of the things i have said have been misinterpreted as unwanted flirtation. to the extent anyone felt that way i am truly sorry about that. now new york city mayor bill de blasio democrat himself was not buying it. >> that is not an apology. he seemed to be saying, oh, i was just kidding around.

sexual harrassment is not funny. it is serious. has to be taken seriously and he just clearly was letting himself off the hook for something that for the women involved sounded pretty terrifying. reporter: now cuomo also said he never inappropriately touched anybody. just days before this another former aide, lindsey boylan accused him of unwanted kissing and touching. house speaker nancy pelosi called the allegations serious and credible. pelosi and the white house believe there should be an independent investigation. now yesterday cuomo authorized attorney general letitia james to launch an independent investigation into his conduct but that was only after cuomo tried to control who would investigate him. his first, he first recommended that a federal judge with ties to his closest advisors be in charge of the investigation. then he recommended that a chief judge take part in a joint investigation with the attorney general. that chief judge was appointed

by cuomo. finally cuomo relented after public pressure and after the ag herself sent out a public statement saying that ultimately this was going to be her show and an independent investigation conducted in her office. gerry. gerry: much indeed, bryan. seems like a short while ago andrew cuomo was supposedly the poster child of covid management success for most of the media. how that changed. thanks very much indeed. well the white house is on defense over its decision to not to punish the saudi crown prince following its declassification last week of the jamal khashoggi assassination report. fox news correspondent peter doocy with the latest from the white house. reporter: the white house is cleaning up for the commander-in-chief because he suggested new action was coming today to address the saudi crown prince's involvement in the murder of jamal khashoggi. >> are you going to punish the

crown prince? >> you will see, the announcement on monday what we're going to be doing with saudi arabia? general. reporter: but turns out that announcement about new policy coming on monday isn't new at all. >> new policy announcement but it will be an elaboration on some of the steps that the administration took on friday. p. reporter: why does any of this matter? this afternoon a u.n. human rights investigator told reporters in geneva it is extremely dangerous for the u.s. to come out to say the crown prince approved the khashoggi murder but not doing anything about it. that is something biden himself promised he would do in 2019. >> how do you not punish senior leaders. would you? >> yes. i said it at the time. khashoggi was in fact murdered and dismembered and i believe in the order of the crown prince.

reporter: difference between campaigning and governing is on display here today. especially the white house came forward to say the u.s. doesn't ever really put sanctions on leaders of countries that we have diplomatic relations with, contrary to what biden said before he got back here. gerry? gerry: peter. lots of conflicting pressures there on the administration. used to campaign in poet thetry, govern in prose. doesn't sound very much of either. thank you, peter. more companies are expecting remote work to last through 2021. what could that mean for your paycheck? may have implications on that. our panel weighs in after the break. ♪.

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gerry: the continued rise in online shopping has been driving profits higher in the trucking industry but last month's deep freeze is still causing delays in shipments across the country. grady trimble live in chicago, one of america's biggest cities for the trucking industry. reporter: gerry, even if you account for the lockdowns of last year, a lot of trucking

companies saw five or 6% growth year-over-year. cnk trucking where we are outside of chicago is one of them and mike burton is with the company. what accounts for the growth in industry and your business in particular? >> what we have seen first of all is inventory replenishment, getting inventory back up to levels needed for the stores. we saw consumer demand take off. so consumer demand, our shippers are seeing more and more volumes. they're pushing us for more and more freight to be moved. reporter: we've seen the boom in online shopping because of the pandemic. do you think that will continue to help trucking businesses in the future as well? >> oh, absolutely. we see e-commerce continuing to grow at much faster rate than they predicted given covid. we think it will continue into the future. reporter: gerry mentioned weather delays. we got a statement from fedex, shipments may be impacted even if the origin or destination is not directly impacted by weather

through the transit flows of shipments through our network and the vast weather impacts a cross the country. this was couple weeks ago. you guys are being impacted by delays in the weather as well? >> absolutely. we have terminals in memphis, dallas, houston. they were shut down for a week. all the freight is starting to move. we have good weather. we're seeing it start to improve. we're backlogged. i think chicago will be backlogged a couple of weeks. reporter: gerry, the message is if you ordered something online you might have to be patient longer because even with the weather clearing up. gerry: thanks. will employees no longer working in high cost cities see their salaries shrink? there is lot of question. back with us jonathan hoenig and danielle dimartino booth. danielle, there is reporting if people stay out of work a long time, there is some suggestion some companies are asking people if they are working remotely

they shouldn't get the compensation working in big cities where costs are higher. maybe that squeezes salary. david solomon, ceo of goldman sachs was saying last week people will be going back to work. there will be tremendous pent-up demand in the economy, isn't there, later this year? >> a lot of savings out there. people have not been able to work. even if they have been able to work, they have not been able to spend money on restaurants, bars, travel t looks as though most people agreed the second half, particularly this year, is set to be a real boom time for the economy, right? >> that is certainly what the expectation is. unfortunately for service providers we can't go back to eat meals we would have otherwise, we can't make up for vacations we have not taken. the census bureau came out with data that showed 37% of americans post-covid have been working remotely, working from home. you would anticipate a lot of these people are ready to see

something new and different besides their homes. there should be pent-up demand even to break out to see the great american roads to come. a lot of companies are really struggling with their employees scattered across the country. i would not want to be a human resources manager at any of these companies which had a lot of flexibility thus you can work from anywhere. taxes start to get very complicated. gerry: right. jonathan, what is your expectation? as i said the ceo of goldman sachs saying we want people back in the office. i heard from other ceo's and other senior executives saying, actually this remote work something great, convenient people. maybe a limited amount can be allowed but they really want people back in their offices. do you think we'll return to something like we were before? or do you think people will be saying no, no, quite working from home? >> maybe if we go back to pullman and elevator operators. no, gerry.

we were seeing a generational shift t was underway before covid and covid exacerbated. moving towards electronic communication. the big tech companies are always setting the trend here, whether sales force, whether microsoft they're encouraging this work from everywhere mentality. it will remake the landscape as we know it, gerry. think about the impact of commercial real estate. no longer go into an office to see a mad sea of desks. those days are over. gerry: danielle, you used to work at the dallas fed. you know the federal reserve very, very well. seeing a big rally again today, record highs. clearly fed policy, this incredibly easy fed policy they seem to be signaling as far ahead of the future we can to, this seems behind it, is this risk-free thing everybody is looking back and seeing it for? >> well i certainly think

investors are putting full faith in the idea, gerry, of what you're alluding to, there is indeed a free lunch. that there will never be a price to pay for all the fed largess. that is how the markets are trading but listening to the opening report about transportation as backed up, at some point you add up all the transitory sources of inflation, inside the walls of the eccles building in the fed, there might be a few starting to get worried these input price increases, shipping freight, backups at the ports it is not going to be all easy and rainbows and butterflies. we have to look out for that. gerry: not the smooth thing that everybody seems to think. danielle, jonathan, thank you very much. both of you. a huge rally for stocks, the dow, s&p, nasdaq on pace for record closes. the second hour of "cavuto: coast to coast" begins after this break. investments,

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susan: hey, gerry, we're oning track for the biggest one-day gain in four months, that's a risk-on trade today with 10-year treasury yields coming down to 140 basis points. most wall street brokerages -- and, yes, that does include goldman sachs -- says it's not going to hurt the bull market, at least not in the short term. the house passing that $1.9 trillion stimulus bill in the early morning hours, and, yes, that includes recovery in bitcoin. down to as low as $43,000 over the weekend, lowest in three weeks, but you can see the recovery is back up to the high 40s. and citi just came out with a really bullish call on bitcoin. they see it's at a tipping point and could one day become the currency of choice for international trade as tesla and paypal warm to it and digital banks explore their own digital

currencies. 300,000 for bitcoin in the future, that was last summer, and that's one of the catalysts for this current bitcoin mania that we're in. tesla, by the way, is up on the bitcoin praise and also this overall recovery in trade. tesla was the fourth worst performing stock in the s&p 500 last week losing about $200 billion in market cap from its peak. now, apple is leading in its rebound announcing all 270-plus stores are reopened across the country for the very first time since march last year, before the pandemic started. apple reopening the last closed u.s. locations in texas this morning. and finally, you know the future is electric the at general motors, gm offering two cheaper versions of the chevy volt, the hatchback and a crossover both under $34,000, and this is part of the affordable electric line. we got the annual warren buffett letter this weekend, he owns around 4% of general motors, less than the 8% of byb which is

a chinese electric car company that he's also envelopessed in as well. the -- also in as well. gerry: some of his more traditional holdings. thanks very much, indeed, susan. well, on the vaccine front, trucks carrying johnson & johnson's newly-authorized vaccine are rolling out right now to states. this'll be the first vaccine that requires only one shot. and it doesn't need to be kept at freezing temperatures either, so fox news correspondent jonathan serrie has more. >> reporter: hi there, gerry. and because it doesn't need to be stored in these super freezers, that means it'll be easier to get these vaccines out to outlying areas. weaver going to see the first shots going into people's arms within the next 4-48 hours -- 24-48 hours. this morning initial doses bound for indiana and ohio were processed at a shipping facility

in kentucky. workers took turns writing positive messages on the boxes with a sharpie pen. doses will be limited to 4 million this week, up to 20 million by the end of the month. but johnson and johnson expects to ramp up quickly to 100 million doses by summer. >> i really can't think of another time in our history where we've been able to ramp up at this kind of pace. and what's also important to remember when we say 100 million doses by june, that means 100 million vaccinations, patients that will have been treated. >> reporter: health experts are less concerned about the vaccine's 66% effectiveness against milder cases of covid because many of the clinical trials took place in south africa where many patients were infected with a resistant variant. but even there there were no hospitalizations or deaths among trial recipients. the vaccine requires only windows, and that single dose was found to be 85% effective against the most serious cases

of covid-19. >> it's been studied in clinical trials for one shot. it's going to keep you out of the hospital, it's going to save your life, and it will decrease spread to others. that is a huge success. >> reporter: and for that reason, public health officials say rather than waiting for a specific brand vaccine to come out, the safest thing for you to do as an individual and for protecting your fellow countrymen is to take the very first vaccine that becomes available to you. gerry? gerry: thanks, jonathan, that's good advice and more good news on the vaccine front. >> reporter: thank you. gerry: with expected protection from vaccines and pent-up demand in the economy, bullish sentiment for the u.s. economy is really driving stocks. firms like oxford economics now see the economy hitting 7% growth this year. so let's bring in culture intel ceo lily gill valletta and market watcher mitch roschelle.

let's start with you, lily, if i may. as we've been saying, the economy is really set for a big rebound. this pent-up demand, we're getting more and more good news on the vaccine front, the new j&j vaccine out today, 100 million doses by the summer. and that means 100 million people getting all they need from that dose rather than the two doses that other vaccines require. it all seems to be setting up the economy for a really, really strong second half of the year, right? >> absolutely. and you know what? the more vaccine news we get, the more confidence goes up. and as we know, the markets thrive when there is confidence. and uncertainty, which is everything we've been living through in 2020, has given us what we see in the numbers right now. so exactly that is why we need to see that as more people get vaccinated, we already have about 46 million with the first dose, the more behaviors will shift and change so thatter we

are more open to spending money. so let's keep in mind consumer services that account for about 7% of total consumer expenditures, that is a big contributor to our gdp numbers, and the more we can ease that and allow people to go back and go into social places and actually eat out, that will drive spending and is a big contributor to the numbers and the bullish mindset that we're hearing from the analysts. gerry: and, mitch, we're looking at these numbers on the screen. the s&p 500, as we said earlier, these major indices all seem on pace right now at least to close at record highs today. one of the things that clearly seems to be helping today is the sharp decline on treasury yields, down in the low 140s now, it was up in the high 150s last week. so that cloud that was on the horizon for stocks last week, the fear of inflation, the fear of significantly higher interest rates making stocks look, actually, much more expensive, that seems to have receded too.

is that gone for a while now, or can we expect a revival of inflation fears and those interest rates to shoot back up again? >> i think that, gerry, the 150 basis points or 1.5% was really sort of a line in the sand for a lot of market participants because that's roughly the dividend yield for the s&p 500. so when all of a sudden bonds were starting to look more attractive than stocks, for those people who were investing in stocks for their income growth as opposed to their appreciation, i think that that's what happened. it was a bit of a tantrum. market didn't like what was going on, didn't like that bond yields were going up and prices were coming down, and they sort of took it out on stocks. that has settled a bit. but to your very question will we see that again, yes, but i don't think it will be as much of a shock. so the next time that happens maybe if the 10-year treasury gets to 1.75% or 175 basis

points, that could be the next real line in the sand where the market reacts to it. gerry: and, lily, we're seeing again today broad-based surgeries in stocks across -- surges across most of the stocks. what do you think as the economy does come back so strongly in the way that you just described, areas that are really going to benefit? presumably those areas that have been hit harold, hospitality, travel, things like that. people are going to be so relieved, right, when this all finally ends, they're going to have so much money to spend that those areas that have really been shut down are the ones that are really going to surge. >> that's exactly, if you want to make summer plans, start booking, because people are ready to be out of hibernation. and we're seeing that with some of the, you know, forecasts from people in the travel as well as hospitality industry. it's the shifting behaviors in the consumers, you and i, that once we feel safe because there's enough doses out there, we have been vaccinated, you know, the news from day-to-day

is going to continue to contribute to that confidence, then we'll go out and spend money. think we also need to keep in mind that the stimulus that is going out to small businesses and the help for communities to recover, one community, one block at a time is going to be critical because we cannot lose sight of the fact that small businesses -- kind of like mine, people that employ less than 500 people -- are the net job creators. so wal need to keep an eye on that so we are not losing track of where opportunity is for growth bottom-up and also motivate people to get out of hibernation. gerry: and i think i just saw the one stock that i saw in the red there the on our list just a minute ago was chlorox. seems to be the only stock that many of us can find -- >> maybe overbought. gerry: i mean, i don't mean to take it out on chlorox, but it's kind of reassuring when you see a stock -- there we are. down just a little, not too much. by the way, procter & gamble providing simile healthful protections for us -- similarly

healthful protections for us. oil is up around $60 a barrel. i'm not sure whether that's been -- we'll be looking further at that, we'll talk more about that and the rest of the market as well when we come back. ♪ ♪

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gerry: we're taking a look now at the 0 stocks. you see there that walgreens, bottom right, is in and out of negative territory. otherwise it's pretty green. it's a very green looking feel. that's kind of good news. salesforce is a little bit off too, i see. otherwise, 28 that looks like a good picture unless you're in the shorts business as some people may be. pretty reflective there, broad gains for the market which at the moment is on for all the major indices to close at a record high again today. of course, life goes elsewhere, and one of the topics we're always very focused on is politics and future of the gop was in focus this weekend after

cpac. donald trump was warning that some of his own party's going to destroy the gop while republican critics say trump won't be the party's 2024 nominee. mark never is live in orlando -- mark meredith is live in orlando. >> reporter: good afternoon. former president trump made it crystal clear haas night that he's not going anywhere. he spoke for about 90 minutes, he was the final speaker. really felt more like a campaign rally compared to what we have seen in the past. it had that same feel that we heard right before the runup to the election. trump hinted that he may run again, but he also insisted that republicans really need to focus on the house and the senate, and they want to take back control by the democrats with a narrow majority there. [applause] >> our party needs to stand up to this destructive agenda with confidence and with resolve. the future of the republican party is as a party that defends the social, economic and cultural interests and values of working american families of

every race, color and creed. >> reporter: now, trump repeatedly cast doubt on the election results, he also called out republicans by name that voted to impeach him following the capitol hill riot. he also attacked president biden's policies. most former presidents avoid criticizing their successors so soon. trump the, though, did not hold back. >> we all knew that the biden administration was going to be bad, but none of us even imagined just how bad they would be and how far left they would go. >> reporter: now, cpac attendees were asked who they would like to see as the 2024 republican nominee. trump did very well in that poll, so did florida governor ron desantis. unclear, of course, if desantis or trump would run going forward, but there's a lot of interest in who the new republican leader will be. i guess time will tell. gerry: let's bring in axios

reporter alayna treene. thanks for joining me. >> thanks for having me. gerry: president trump back on form, as mark said, laying into his critics, laying into president biden, criticizing his own party, naming all of those who voted for his impeachment or conviction in the recent trial in congress. the republican party, it does, you know, as popular as donald trump is, and we saw that from that straw poll at the end of the cpac meeting, it is a party that is in a significant amount, that's got significant divisions, right? the former president is threatening to run, you know, to run against many of those people who vote, all of those people who voted against him. this is a party kind of in a civil war, isn't it? >> it is. and it's a party that is really struggling to find what it is and what it's unifying around in a post-trump world. and we're seeing that play out in congress in particular but also in the potential discussion

of who the potential 2024 nominee will be. i think that the former president made it very clear that anyone who was against him, e will be running full heartedly and full-throated at them and against them and their primary challengers. but also from people i've spoken with close to him and getting their reaction to his speech, they think that the president whether he runs or not, i think he still is leaving the door open but not decided, he wants -- what they want it to be, rather, someone who is with trump. so whether it's trump or not, they think the person who will run and win the nomination ahead of 2024 will be a trump-backed person. gerry: what was interesting as well in addition to that characteristically combative performance by the former president, he did spend some time spelling out what could be called a kind of an agenda, spelling out even a kind of, almost an ideology of trumpism, talking about a republican party that stands up for working class

interests, working class values in a way that perhaps the republican party has not traditionally been seen. are we seeing here the beginnings -- whatever happens with president trump -- a transformation of the republican party's message? >> yes, definitely. and we've already seen a lot of leading republicans like senator marco rubio, majority -- minority leader, excuse me, gop leader kevin mccarthy say that they want the future of the republican party to be the party of the working class. josh hawley, another potential 2024 presidential contender, also saying they want the party to be the party of the working class. so we're seeing a lot of people kind of clasp on to that message. and you're right, the former president did lay out a lot of these things. i mow that a lot of republicans i spoke with, some former trump advisers and people close to the former president, telling me that they think it's much more substantial than they had anticipated. he did spend a lot of time

laying into attacks on president biden, spent a lot of time on immigration which we didn't see a lot of time discuss at cpac. so he's already starting to lay some of his policies out where e did that on the stage yesterday. i think we're going to see a lot of republicans follow suit. but it is a big question, i think, as we look ahead to the future of the party where people stand on these issues and what they rally around. we saw jim jordan offer a very supportive message that he'd get behind the former president if he chooses to run for office again. we're seeing other people like tom cotton, josh hawley kind of laying low in deciding what they're going to do and letting the former president's decision -- gerry: sorry to interrupt, very quickly, if i may, because i want to get your thoughts on this before we go, it'll have to be brief. the one name out there other than former president trump in that poll is ron desantis, governor of florida, who does seem to enjoy a lot of support, a lot of pop lair ity in the

party, right? >> he does. and he's a very trump-like republican which i think is what we saw. but i also think that the straw poll is a good indicator of how people who were at cpac are feeling, it's not indicative of republicans across the country. so i think particularly when we look at his response to coronavirus and his performance as governor, that will also weigh in to how people view him. but, yes, he's a trump-like republican who saw a lot of support there, and it shows he might make a potential run. gerry: thanks, good to talk to you to. well, the cdc is pushing back on governors who are looking forward to easing covid restrictions. i'll ask our panel if we're returning to normality, although too slowly, next. ♪, -- smile but i don't feel down. ♪ i'm stuck on overload.

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♪ gerry: welcome back to "coast to coast." the covid relief package is now heading to the senate, but there's evidence, plenty of evidence, that the economy is growing quite strongly without it. fox business' blake burman is digging into why some say this package is not necessary. >> reporter: hi, gerry. republicans are about to start to outline a twofold argument as to why they believe this $1.9 trillion package does not need to go forward. first off, as you mentioned, there are many who believe that the economy right now is in pretty good shape. let me show you a couple different charts, for example. when you look at, right now, the status of personal savings rates and disposable income, those numbers are actually higher now than they were before the pandemic started. of course, the direct payments checks that went out to individuals and families likely having some impact on that. republicans, you will also hear them argue that they say the package only has a 9% direct

correlation to actual covid relief. according to a memo obtained by fox, senate republicans will make the case that $63 billion in unspent school funds still remains as it relates to the current package, they'll say money in it goes to shore up infrastructure projects in nancy pelosi and chuck schumer's home states, they say there's money for climate initiatives, $350 billion for states which they call a bailout. listen here to senator tom cotton lay out part of the argument earlier today. >> cases are plummeting, vaccination rates are surging, the economy looks to be getting stronger. we can continue to spend the money that was appropriated last year, there's more needed in a few months we can come back to it, but a $2 trillion bill right now is nothing but a payoff to democratic party clients and patrons. >> reporter: but, gerry, over here at the white house they make a different case. they say there is real struggle all across this country. we just heard from the white house press secretary, jen psaki, a little while ago, and this is how she started off her daily briefing today.

>> there are 11 million americans who are unemployed through no fault of their own but who will struggle to put food on the table, struggle to make ends meet and struggle to live with the dignity they deserve. i'd also note nearly 1 million households report their children aren't eating enough, more than 1.5 million more are behind on their rent or mortgage. >> reporter: so that is part of the argument, gerry, over here from the white house as to why they believe this $1.9 trillion package needs to get passed. this afternoon, in about -- actually, starting sometime right around now, potentially, president biden will be meeting virtually with eight or nine different democratic senators, the white house says to talk about this package. interestingly, gerry, one of those senators, senator joe manchin of west virginia. many believe he could potentially be the key vote in the senate as to whether or not democrats can get this across the finish line or not. gerry? gerry: thanks very much, blake. senator manchin, second most powerful man in america maybe.

thanks very much. meanwhile, virginia is easing some covid restrictions today the, philadelphia's doing the same, new york has been doing similar. but the cdc is warning statements not to relax just -- states not to relax just yet. despite significant progress, mitch and lily are back with me. let's talk on this topic about whether or not the cdc -- it does seem as though the administration, the biden administration, is very keen to, if i may put it this way, accentuate the negative. everybody's getting very excited about the recovery, vaccines are doing well, the my is bouncing -- the economy is bouncing back and poised to bounce back later in the year. the cdc is saying not so fast. i think some of those blue state governors are also maybe reluctant to move up. is there a danger, if i may ask, lillety, is there a danger that we could be too cautious here? >> well, you need to strike a balance, and that's a tricky

thing with covid and managing a pandemic that nobody has a playbook for. i am a former pharma executive and i know that, indeed, there are questions about how is this vaccine going to look like when it's out in the world as there are variants of the virus, so i do see why we need to be cautious. continue to wear a mask and social distance. but at the same time, we cannot force people not to live lives. the collateral damage has been way too great, the mental health, social isolation, academic achievement, the list goes on and on and on. so i think we need to focus on not restricting people or if we are putting guidelines which is different from forcing mandates, how are we going to be more effective in our rollout of the vaccine and increasing advantage seen confidence. i feel -- vaccine confidence. i feel like we need a balance to be able to effectively not just move out of fear, but actually get into solutions with the vaccinations as well. gerry: and, mitch, we're still looking at these market numbers

which are very, very strong across the dow and the s&p. it's pretty well a sea of green. mitch, permit me, if i can be permitted to be cynical for a moment, we kind of know what the white house is doing, don't we? they're kind of playing down the economy right now, saying the economy's in much worse shape, hold on the, you know, the enthusiasm, the excitement so that when, as everybody agrees we're going to get a strong recovery, and we see the numbers kind of turning around later in the year, they can say, well, it was all because of our covid relief bill. it was all thanks to us. nothing was going right before we came into office. same thing they said about the vaccines. there was novack city nation program, they said remarkably and implausibly when they took office. they're just lining us up so that they can claim the credit for everything that goes right this year. >> that's not exactly a new trick, gerry -- [laughter] i think anybody who takes over running anything blames all the problems on the previous person

and takes credit for fixing anything regardless of whether or not it was broken. the point made about striking a balance, i'm a new yorker, and i'm right now in florida. you can see what happens when you find a way to strike the balance. yes, we're wearing a masks, yes, we're social distancing. but you know what? this economy is booming, and you know what? the unemployment rate is low, schools are open, morale is high. so i think if you find a way to strike the right balance, it works, and you don't have to worry so much about throwing stimulus at people because the economy takes care of itself all on its own. >> that's right. gerry: and lily, just briefly, it's remarkable, florida's managed to keep covid infections and serious disease from covid relatively low while keeping its economy open and strong. there's got to be some lesson there. >> that's right. and also they're giving you, you know, covid-19 vaccines at publix. so so it's reimagine ifing how

we -- reimagining how we give confidence to the public. i want to highlight the fact that last week the ad council put together major brands, media companies, community-based organizations so that we can elevate vaccine confidence because that's the thing we're not talking about. 40% of americans are still saying even if you give me this option, i may not do it, and that's where we need to put our focus. how do we raise that education, get millions of americans vaccinated so that we can have some of the stories like what you're seeing in florida which is doing a great job in vaccinating and reopening all at the same time. gerry: they really are doing a remarkable job. thanks very much, lily and mitch, for joining me. well, the 10 is-year treasury yield stabilizing today after we saw a massive surge in it last week. we'll have more on that, improvements in the treasury market, generally increasing optimism in the economy which is driving the market today. we'll have more on that with more on "cavuto coast to coast" after the break. muck a little be bit of rita is all i need.

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people call my future uncertain. but there's one thing i am sure of... gerry: tensions between israel and syra escalating. the syrian army's claiming that israeli-fired rockets struck the southern da damascus region on sunday evening. trey yingst joins us live from jerusalem with the details. trey. >> reporter: gerry, good afternoon. overnight suspected israeli strikes targeted iranian-backed positions inside syria. new video does show air defense systems active over the capital of that maas cat, the -- damascus, most of the missiles were shot down and the assault originated from the golan land heights. this is the seventh time in two months similar strikes have occurred. israel's chief of staff said in december that israel struck more

than 500 iranian-linked positions in syria last year alone. the strikes come just days after an israeli-owned cargo ship was targeted in the gulf of oman with suspected iranian mines. benjamin netanyahu reportedly convened a cabinet meeting this weekend to discuss a response. the attack on the israeli-owned ship provided little evidence to support that claim. fox news attended an intelligence briefing from the israeli military last month. the current assessment is that iranian proxies will continue this year to attack the jewish state and that it could lead to days of fighting in the coming months. gerry? gerry: thanks, trey. white house officials are defending their decision not to sanction the saudi crown prince following that newly-released report last week on the assassination, the brutal assassination of jamal khashoggi. well, and remember that came after joe biden had said during the presidential campaign that he would take action against the

saudi crown prince, mohamed bin salman, if it was proven that the saudi crown prince was involved in that. that doesn't seem to be the case. so we have some mixed messages there on saudi arabia from this administration. and, of course, some exdentals uncertainty in the -- extent, uncertainty in the continuing standoff over iran's nuclear program with the administration saying it's not ready to lift the sanctions on iran that were put in place and iran saying it won't stop enriching uranium or reduce enriching until the u.s. does lift its sanctions. so we have, the u.s. seems to be -- despite the criticism of the trump administration for its policies in the middle east, the biden administration does seem to be encountering some tensions and uncertainty about the right way forward. let's bring in hudson institute senior fellow rebecca heinrich to to talk about all of this. thank you for joining me. >> thank you for having me. gerry: joe biden said they were going to come down very hard on the saudis over that brutal

murder of jamal khashoggi, now they're saying, no, no, no, there won't be sanctions. they said they wanted to get back into the iran nuclear agreement, the jcpoa. they're not able to do that yet, they say, because iran won't agree to do what it needs to do under the terms. where does this leave the biden administration's whole strategy? we're a month into the biden -- what does that moon for the whole strategy in the middle east? >> so far the biden administration's policy towards the middle east is confused, it's disordered, and they're running into a classing case of having to deal with reality as it is, not as they wish it was. and so here we have in the case of the saudis they talked a big game about wanting to get tough on the saudi government because of the extrajudicial killing of the saudi citizen on saudi soil in turkey. it was in that saudi consulate, jamal khashoggi. he was a critic of the saudi

regime. he was not an american citizen although he was a paid washington post columnist who was getting help from the qatar government and in some of his writings. but he was obviously an enemy of the saudi government, and he was unjustly killed in that consulate. and, you know, the biden administration wanted to talk tough, they did talk tough about the saudi government, even criticized the trump administration for really viewing the saudis as a partner and even to an ally to a certain degree. and now that they're in power, they can see that that's something that is a necessity in order to bring stability to the middle east, to bring stability to the global energy supply and to counter the bad behavior of the iranian government. so they're being confronted with reality. gerry: rebecca, very briefly, if you would, we saw under pram marx i think it's fair to say -- president obama, i think it's fair to say, the israeli regime really strengthen its position throughout the region thanks in part at least to the nuclear deal which allowed it to have so

much money, resources to increase its sway in the region. trump came in, decided with this very firm alliance with israel to hold back the iranian advantages and stopped that. where are we now? are the iranians once begun starting to -- once again starting to look like they're the dominant force in the region? >> it's a game of chicken between the mullahs in iran9 and the biden administration. the biden administration, again, talked a big game saying they would be so much better at bringing civility in the middle east, and even though the middle east policy in the trump administration was one of their great successes, really isolating the iranian regime. so now the biden administration wants to get back to that iran deal, but they want the iranians to comply with the parameters of the deal. meanwhile, the iranian government is continuing to violate the terms of the deal, engaging in terrorist attacks against u.s. forces and all around acting like the bad power it is and the greatest source of instability in the middle east. so i think that the biden

administration is right to kind of put its desires in check and say they're not going to reach out for sanctions relief or anything like that until the iranian government complies with the terms of the deal at least. i would suggest that they need to get back to zero enrichment. there's no reason for the iranian government to enrich uranium at all. but, you know, you can't negotiate with aregime that is currently engaged in acts of terrorism against your own people, and that's the iranian government. gerry: i think it's fair to say reality bites and the biden administration are discovering the consequences. thanks very much, rebecca. >> thank you. gerry: stadiums and venues get the green light to reopen, my next guest says he sees 500-2,000 people conferences starting back up as early as august. ♪ we're the kids in america. ♪ we're the kids in america. ♪ everybody loves for the music ♪♪

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be good things and not because she's a woman, because based on my reporting she's highly qualified, smart as a whip, understands the business. and these are -- i'm getting this from competitors of jane frazier at a places like jpmorgan and bank of america, you knowsome they don't really want to compete against her. they think she has got the right stuff to bring back citi to some semblance it was before the financial crisis. so what i'm hearing is as she takes over, that there's going to be a lot of talk on her fixing what's going on at citigroup. you know, citi group's a big bank, they make a lot of money, but they're also kind of second and third place in all the various categories. all the banking categories and in the retail banking categories. and i think, you know, that's her first, what i understand, her first goal is to get that straightened out, try to ramp it up a bit, try to make it more competitive with jpmorgan and

bank of america on these things. and then i think the next step is to grow. now, gerry, you and i are about the same age. we do remember that citigroup was once this incredible, you know, mega-financial empire. it had brokers, it had insurance, it had smith barney. they were forced to sell during the financial crisis because the bank was almost insolvent. it had too much toxic assets on its book, those toxic housing assets on its book. and, by the way, it needed several bailouts, not just one, it needed multiple. in that's how bad of shape it was in. it's not there now. and i think the question is how do you maybe go back to the future to build out. a lot of banking sources tell me that they think they're going to do something, do some sort of deal, and what would be a logical deal? i don't think they go out and try to buy barney again, you know, that horse has left the barn. [laughter] but getting into asset management in a major way would

be interesting. and, or maybe buying another bank, a smaller bank, you know? maybe adding. they could probably do that because they're not at that jpmorgan level. it's, it is, you know, it'll face regulatory scrutiny, no doubt, but, you know, they're not at that level. and one other thing i asked would jane fraser change the culture a little bit where they would not do business with the saudi royal family. and, you know, citigroup of all the banks has the most tentacles into the saudi royal family. you name it, i believe members of the saudi royal family used to be on the secret board back then. they still have those relationships. ray mcguire, who's running for new york city mayor, was one of the point men on those relationships with them on the banking side. from what i understand jane fraser is not going to change that. in the aftermath of khashoggi. it's just too much money on the line. it is going to be an interesting

bank in the future to watch in terms of how they grow, where they grow and what they do. you know, clearly, the chattering class is out there saying they're going to do something significant. back to you, gerry. gerry: charlie, thanks very much. tech stocks are starting the month in the green after suffering their worst loss since october 2020. let's bring in ray wong. ray, thank you. >> hey, gerry. gerry: let's start with tech stocks. they've had an extraordinary run, some of the bigger companies, during the pandemic as people have been stuck at home, you know, technology has become, has advanced more dramatic create in our lives over the last year -- dramatically in our lives. perhaps as people return to normal, they're not going too old quite as well. give us your picture of where they are and how they continue this with, say, with information technology, with a.i., with the manipulation of data becoming such an important part of our lives. these companies, many of these

tech companies seem to be still set to dominate the economy, don't they? >> they are. and i think not all big tech stocks are equal, but we have the gamma trades. these are the trillion dollar market cap plus company, google, apple, microsoft, amazon, they're going to be around for quite some time because they have digital monetization models, and they've figured out pretty much how to get into almost every industry. in that case those are in one category, and those are the ones people see as safe bets. we've got microsoft in that, you know, other companies like tesla that complement, you know, companies like the fam ma trade, we also have the -- gamma trade, we also have netflix, the rest of the fang group, and we see a bunch of new comers like airbnb, doordash, etsy, and you have tech companies that are enterprise-based that are also interesting to watch, palantir, c3a.i. and what's going on with snowflake. and then you also have software companies like service now and salesforce.

they're doing really well because they're able to monetize in the digital sense, they're able to build in cloud, a. i. and all those new technologies. now, interest rates respect going to stop them, you know? look at the equity trade versus us the bond trade, people are relieved, and it's good that we're having some rising enter rates because it shows the economy is going. gerry: i know you've got some thoughts on the reopening of the economy, and we've just heard that new jersey's, obviously, the largest concert and entertainment venues are reopening with restrictions starting today. i think you see perhaps the return of some conferences coming up perhaps quite soon. is that right? >> it is. i do a lot of of keynote speaking, and we're starring to see bookings in august and september, people are looking to cpac this weekend. that was a pretty big conference, and that was in orlando. states like, you know, florida, texas, nevada are opening their doors to larger events over time. gerry: so that means perhaps not an end to zoom, to all those

zoom meetings and all those interesting experiences we've all been having on teleconferencing, but perhaps less of it and more actual meeting of people again which can only be a good thing. ray wong, thanks very much, indeed, for joining me. >> take care. gerry: well, boeing, exxon and apple are all leading the dow today as it rises quite strongly. we'll be right back. ♪ ♪ . .

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♪. gerry: apple is getting back to business. all 270 apple stores in the united states are opening their doors today. that is the first time all u.s. apple stores have been open since the start of the pandemic. that is it for "coast to coast" today. neil is back tomorrow. charles payne is next. charles: thank you very much. good afternoon, folks, i'm charles payne. this is making money. what a difference a week makes as investors have high hopes the fed will do the right thing. i'm asking jay powell and company, where's the love? all major indices are rocketing higher. there are still nuances that can make a big difference in your portfolio. here is the thing, i have the her tech guests on this important day and what stocks you should consider buying into the close. china appears ready to bump up the nuclear force as the global ambition has become more emboldened. will the biden administration follow the trump