i want to get some more thoughts from tom farley. nd what you make of the idea that exxonmobil is now trying to become an esg labelled company of sorts. >> darren has a very hard job that's what i make of it he's been at exxon for 28 years. he's brilliant he's a person of significant integrity. but, you know, he'll have to be more than the old darren woods going forward. this business needs to change dramatically very challenging to deal with activists. they don't all agree they don't agree if the dividend should be kept and if it didn't, excess cash what should we do with it? he absolutely needs move this business aggressively in the direction of more renewable forms of energy and the reason for that is simple the market is paying for it. this struck me a couple of months ago i'm on a university board and the inendowment came out said we're not doing any investments in fossil fuel companies. so you have a lower multiple on the cash flow generated from those businesses and higher multiple on those renewable forms of energy. when darie

>> thanks, becky coming up, tom farley of far peak it's not fair peak, is it, tom is our special guestoing to kick things off with a look at the markets and the record run for stocks. >>> then former treasury secretary jack lew going to be our guest. just yesterday, the day before t li i said, maybe norungt out. we'll ask him. "squawk box" returns after a quick break. will there be an ev for me? what about me? one for me? you mean us? what about me? and me? how about us? yeah, how about us? great question. wait, can i get one in green? got one for me?! hey, what about me? what about us? is there an ev for me? ev for me? us? what about me? me? for me? ♪ ♪ (dog whimpers) >>> welcome back, everybody. a record close yesterday on the s&p. joining us right now to break down the moves is tom farley former president of the new york stock exchange and current chair and ceo of far peak. >> and i'm chairman of global blue on the stock exchange the reason i mention that i contracted coronavirus or at least i became aware that i had it i got the report the same time andrew did the story of etoro go

we had tom farley saying we absolutely would see it.ack lew farley said, if you go to 28, nobody else is going back up with us. ireland is staying at 12.5 so there will be inversions. >> i don't love it, joe, but i don't know how we're going to be able to dig ourselves out of the hole to me 28 seems like a natural compromise given everything that is going on. you're right, capital finds its way to the cheapest venues, but remember, you know, whether it's new york or california, people are staying in those states even if the taxes are high if they like their environment and they like their living standards. so it's really a catch 22 for people but i don't see how you're going to get around it. whether tom agrees or doesn't agree, start planning for it because you're not going to be able to run $4 trillion in deficit spending and keep everybody happy on the taxes remember this, i know you know this, but taxes are -- deficits are unfunded tax liability and, you know, when you're doing this kind of money printing, it is a secret form of tax

to raise the rates, they talk about, we're not going to get into a race to the bottom but we had tom farleycompetitive landscape here there'll be less money coming back here that we did start seeing, although people will say it was used for buybacks or whatever but you can also see more inversions you can see it be less attractive, even if it's only six or seven points, less attractive at attracting global capital in the united states as a moelis guy, is that correct? >> i absolutely grew with tom farly on the competitive aspect of our tax code right now. and if the democrats get their way, i can tell you, our clients at moelis are all looking to se what actually is going to happen you're hearing, though, this plan that was put out during the campaign that then candidate joe biden talked about a tax, a 15% minimum tax on corporations. he talked about raising that corporate rate back up to 28%. talked about increasing the capital gains rate, basically taking it into parody. all of that does not speak very positively to economic growth that and why our clients deal activity is robust across s

tom: we are preparing for this euro show with our great team. information changes with the news flow. we change as well. the good news of america, dr. farleyest of us shocked by what we see out of denmark and astrazeneca. what we see out of the eu on blood clots. dr. farley, wonderful research on hematology. give us a summary of the risk in america to the thrombosis, the embolism risk we see out of denmark. >> good morning. we have known covid causes a state of blood clots since the beginning of the epidemic. we have talked about many types of things including accidents inpatients or strokes in patients with covid-19. we have seen covid toe, little blood clots that block the blood flow to the vasculature. we know this causes a state of the body's response leading to blood clot formation. this has caused significant disease in the elderly and those with comorbidities in the u.s. tom: i mentioned francis collins of nih earlier with the key phrase "even in younger people." what is the risk of these events to younger people if they get covid, which they heal from easily but nevertheless they have blood clot risk? >> certainly. anything that up

tom: i really agree with that. em has a significant fragility's versus the story we are all hearing in america as we see the bank of england in a few day to -- a few days. jason farleyus from johns hopkins university. what i see is an overconfidence. let's call it american exceptionalism. we have the best vaccines, the best program and on and on. how do we avoid the sadness that we see in europe? jason: certainly. your analysis is spot on. there is lots of hope and lots of optimism. that is a good thing. we know that behavior is driven by trying to remove anything that prevents us from living our lives. what we are seeing is the beach is full during spring break, we are seeing states reopen all because of these great vaccines reduce cases in some states and not all and the opening up of the economy. those all seem like an appropriate reaction when you have vaccine and appropriate treatments. but we are seeing cases increase throughout the european union. italy going back on lockdown, new variants across the united states, it is certainly not the time to be rolling back precautions lisa:. lisa:let's take a look at the u.s., there is a question whether the number of c