barron's 100 anniversary to mark the milestone we asked investing giant and american express ceo to join the future of business. will get his stance on voting rights and facebook ban on former president trump. which innovation and friends will shape investing in the next 100 years but we begin as always the three most important things investors should be thinking about right now. the dow hit a new high by the surprisingly weak jobs report, copper prices surge over the past year with base metals played a crucial role in the shift to green energy, should you add copper stocks to your portfolio? how the pandemic has influence back to work at back-to-school fashion in which brands are poised to benefit most. on the "barron's roundtable", ben levisohn, carleton english and dachau, surprisingly low job number, below the estimate, instead of getting concern investors shrugged it off and kept on buying. >> they shrugged it off in a big way, that initial reaction saw bond yields dropped very quickly but they were back where they started, that tells you everything you need to know about the report

. >> clerk: item 1, approving amendment number 2 to the terminal 3 common-use lease between american express travel related services company and to increase the square footage of the square -- of the launch, and have -- for the premises, increase the promotional charge to $15,000 and proportion to the net increase in square footage of the premises and to extend the term by seven years with a new expiration date to commence upon board approval. the members of the public who wish to provide public comment call 1-(415)-655-0001, i.d. 187-425-1551 and pound twice. if you have not done so, press star 3 to line up to speak. wait until the system indicates that you have been unmuted and you may begin your comment. >> supervisor haney: we have kathy widener from the airport to present on this item. welcome. >> good morning, members of the committee. kathy widener with theairport. thank you for re-calendaring this item continued at the april 7th finance committee meeting. during the time in between the airport staff has taken the opportunity to review some of the finance committee member's concerns -

whatever it may be american express was not on that list of 11 names if you like mastercard and visa,-- you have to like amex, i imagine. >> exactly we bought amex a few months ago to some extent as a reopening play it was a discount to the s&p we haven't had business travel never mind leisure travel. amex really prospers when people start to travel particularly overseas they are a bank. they are exposed to interest rates moving higher. that was a positive. starting to see a big pick up in the vacations and leisure travel we haven't seen a pick up in business travel. that is coming for that reason, we think american express has a big run the stock has had a big run. axp should continue to move further over the next year or two because that growth rate is accelerati accelerating visa and mastercard is consumer spending and amex is more business spending. >> the name on the 11 stock overlap, you also like you united health. >> we had a very growth-based portfolio last year. united health was a name we bought because if you looked at the hospital and type of medical cases that were seen

steven said he booked a flight using american express travel.irline later canceled his flight, but steven says he couldn't get anybody at the amex travel agency to help rebook him. he rebooked on his own at his own expense and then took the flight. here's the thing. that left the $6,000 plus on the old tickets up in the air. for a full year he fought for a refund unsuccessfully. he contacted us and eventually he got back his $6,338. we asked amex travel for details about what happened but did not get a response. steven wrote us a kind note and said i attribute this resolution to your involvement. he had something else to say about travel agents and travel websites in general. he said, think twice about booking through anyone but the airline. steven has a valid point there. when you book directly with an airline you might have to pay a service fee or a fare difference but the airline will make changes for you. however, if you book through a travel agent or a website the airline often won't make the changes. they will insist you make the changes t

he booked a flight from sfo to melbourne, australia, using american express travel.he airline later canceled his flight but steven couldn't get amex travel its agency to help rebook him. he rebooked on his own and own expense answer took the flight. that left the $6,000 he spent on the old tickets up in the air for a full year, steven fought for a refund unsuccessfully, contacted us and eventually got his $6,338.84 back. we asked amex travel for details about what happened and didn't get a response. steven wrote us a kind note and said "i attribute this resolution to your involvement." maybe we can help you, too, go to nbcbayarea.com and click the "responds" option from the main menu or call us 888-996-tips. >>> now open to everyone for the first time in more than a year, reopened this weekend. it was closed last march. animal lovers are excited to be back. >> i'm super excited to be able to go back in, because i actually want to be a marine biologist when i grow up so this is really cool and i can't wait to see the penguins because those are like my favorite animals

his personal venmo account, is american express account, is american express account of the tax collectorsto count from december 2016 to 2018. he used those accounts to conduct more than 150 transactions totaling $70,000. all of which involved greenberg paying for women with, paying women for commercial sex acts using those accounts. one of the individuals who he paid for commercial sex acts was a minor under the age of 18, for part of the time when greenberg paid her to engage in commercial sex acts. greenberg engaged in sex acts with the minor in florida at least seven times while she was a minor. during these commercial sex acts, greenberg would also -- often would offer and supply the minor and others with ecstasy, the drug. which greenberg would take himself as well. oftentimes, greenberg would offer to pay the monitor and others an additional amount of money if they took the ecstasy. greenberg also introduced the minor to other adult men who engaged in commercial sex acts with the minor. in the middle district of florida. other adult men, floral. these are all statements by the prose

american express travel. the airline later canceled his flight but steven couldn't get amex travel its agency to help rebook him. he rebooked on his own and own expense answer took the flight. that left the $6,000 he spent on the old tickets up in the air for a full year, steven fought for a refund unsuccessfully, contacted us and eventually got his $6,338.84 back. we asked amex travel for details about what happened and didn't get a response. steven wrote us a kind note and said "i attribute this resolution to your involvement." maybe we can help you, too, go to nbcbayarea.com and click the "responds" option from the main menu or call us 888-996-tips. >>> 5:26 this morning. breaking news overnight, a fire breaking out for a second time in three days on the property of a contra costa county church. coming up, we'll have a live report on the investigation into both fires. >>> plus, drought watch. more water restrictions could be on tap for one bay area expand vaccinations. up next, how soon bay area's largest

dimon began his career as a stockbroker in -- and turned at goldman sachs before working at american express and citigroup, serve at -- welcome mr. dimon. brian moynihan served at fleet boston bank -- he was named ceo in 2010. welcome and finally mr. james gorman joined merrill lynch and work for more than -- he served as ceo since 2010. welcome, mr. gorman. mr. scharf, you are recognized for five minutes. >> good morning and thank you for the opportunity to be here today. just over a year ago, when i last appeared before congress upon assuming my role as ceo, we are on the verge of the pandemic and i cannot help but look back and think about how little we understood about what 2020 would bring. on the pandemic struck, we all came together to stand up unprecedented at a scale and speed it had never been done before. the process was not perfect, but we the government and others rallied to do what needed to be done. and now, we must continue to work together to ensure a fair and equitable recovery. as we begin taking steps toward recovery, i am proud of wells fargo's efforts to support our cus

barron's 100 anniversary to mark the milestone we asked investing giant and american express ceo to joins stance on voting rights and facebook ban on former president trump. which innovation and friends

barron's 100 anniversary to mark the milestone we asked investing giant and american express ceo to joinmp. which innovation and friends

now you can replace your corporate chase bank accounts, your american express, you can have this alln one product with brex. the next step for us is to keep developing these products to different segments, but also to larger companies. emily: the ceo of brex, thank you so much for joining us. meantime, some breaking news. walmart now says vaccinated customers can shop without a mask. the retail conglomerate saying it will give $75 to all vaccinated workers. of course, still a lot of questions how this will work. how will they know if people are vaccinated or not? we will talk about this more later in the show, the new and surprising guidelines from the cdc, how businesses are reassessing their policies more, coming up on the show. after serious pressure from the united states, the hacking group suspected behind the colonial pipeline hack has shut down its service. we will have that story next. this is bloomberg. ♪ >> this cannot be open season for hackers who can make money off of the threat, even if they don't go as far as crippling the entity, as with colonial, they did not. emily:

a parent can express -- american express is out with one of the biggest for some new applicants for itstinum card. banks pulled back after the pandemic because they were afraid they would have to eat a bunch of credit card losses. now they want to be ready when people start traveling again. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i ritika gupta. this -- i'm ritika gupta. this is bloomberg. ♪ >> if you recall, commodities were stuck in this consolidation period from mid-march through about mid april, all of that creating a stagnant level of oil and commodity demand. now, because of that seasonal economy coming back up again, that level is shifting back. we are largely -- we are likely to see the largest level of oil demand between now and july. jonathan: that is jeff currie of goldman sachs, joining the "bloomberg surveillance" early team this morning. alongside tom keene, i'm jonathan ferro. all-time highs on the s&p. euro-dollar a snooze, $1.2167. cable through $1.41. a really robust m

you are selling our corporate travel unit two american express.business travel activity are you seeing and what you think happens to business travel in the end? >> yes, well, i have said all along, i think business travel will be back. i've done interviews where i said as soon as the first salesman gets on a plane and goes and sell something, that the one who stays home did not, we will see everyone back zooming around the world. i think that is basically true. we are planning, potentially, to sell our corporate business. but that is really an investment in the future of corporate. we think that corporate combination makes the best company in the corporate space we can be part of and an owner of. and by doing that, we civil if i our own company, so we can focus on our core businesses, empowering be to be customers, and empowering our b2c brands. rb to be as this is a big push for us and this is a big push for art -- big addition to our b2b business and this allows the corporate enterprise to focus on corporate clients. we believe they will be back

american express, many others commented on the georgia law.as been, that shouldn't be the case. focus on your customer base, not getting involved in politics. you don't belong there. elizabeth: giano caldwell, always great to have you own, good to see you. come back my friend. >> thank you. elizabeth: up next monica crowley with her take on the biggest hypocrisy of all in the democrats sanctimonious fight about taxing the rich. it is about what democrats don't want you to know about, taxing the richest players of all who so happen to be in the democrat's own yard. this is in the democrats 'playground. we'll talk about it next. ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪ with allstate, drivers who switched saved over $700. saving is easy when you're in good hands. allstate click or call to switch today. allstate (vo) these days, every business is a connected business. so you need a network that's built right. verizon business unlimited starts with america's most reliable network. then we add the

came out and after people began to rave how it wasn't disenfranchising people, companies like american expressto the table, which is what they should have said in the beginning or not said anything at all. at this point people are doing shouting and screaming when there's no details to scream about. come to a compromise bill. we have to protect our election integrity and move on. shouldn't be a partisan issue. >> neil: it will be that, tom. i'm wondering what the corporate impact is on the corporations that decide to take a stand in depending on your board of view, might be ramifications for that as well. what do you think? >> well, i think the ramifications could being is enough can't. you've seen mitch mcconnell, ted cruz saying you know, stay out of this or we're going to stop supporting you, going to call for boycotts and the like. you've certainly seen among, you know, conservatives boycotting companies and other things in response to this. i agree with giana. it shouldn't be a partisan issue. the problem is you have on one side, you have the democrats and the media and corporations that

you are selling your corporate travel unit two american express.ss travel activity are you actually seeing, and what do you think happens to business travel in the end? peter: i've said all along i think business travel will be back. i've done some interviews where i said as soon as the first salesman gets on a plane and goes and sells something that the one who stayed home didn't, we are going to see everybody back zooming around the world. i think that is basically true. we are planning potentially to sell our corporate business, but that is really an investment in the future of corporate. we think that corporate combination makes the best company in the corporate space that we can be part of and an owner of, and by doing that, we simplify our own companies so we can focus on core businesses of powering b2b customers and our b2c brands. this is a big addition to our b2b business, so it really fits into our long-term strategy and allows that corporate enterprise to focus on corporate clients. but we believe they will be back. we believe it will be

a new poll out today shows that nearly two-thirds of americans expressed optimism about the directionthe country. the last time we came close to that level of optimism was in december of 2006. i often think about a quote from abraham lincoln. public sentiment is everything. with it, nothing can fail. against it, nothing can succeed. perhaps it's clear why many americans are upbeat. 100 million of us are fully vaccinated just in time for summer. i'm a week and a half away from my second shot. but this is just a snapshot of how the country's feeling right now. and that could change depending on how much the president gets done. the major successes of his first 100 days centered around covid relief. now he's turning to an infrastructure plan. the path ahead for that seems less clear. republicans say the price tag's too high. democrats argue they can't afford to water down the package. but the administration seems hopeful about finding common ground. >> well, i think, john, the president had a great conversation with senator kapato last week. we've invited her and a group of republican se

his american express account at the tax collector office. that's nice.nt from december 2016 to december 2018. he used those accounts to conduct more than 150 financial transactions totaling over $70,000. all of which, involved greenberg paying for women for -- paying women for commercial-sex acts using those accounts. one of the individuals who greenberg paid for commercial-sex acts was a minor under the age of 18 for part of the time when greenberg paid her to engage in commercial-sex acts. greenberg engaged in commercial-sex acts with the minor in the middle district of florida at least seven times while she was a minor. during these commercial-sex acts, greenberg would, also -- excuse me, often would offer and supply the minor and others with ecstasy. the drug, ecstasy. which greenberg would take, himself, as well. oftentimes, greenberg would offer to pay the minor and others an additional amount of money, if they took the ecstasy. greenberg also introduced the minor to other-adult men who engaged in commercial-sex acts with the minor in the middle di

the sentiment that you were expressing there, this is something that i have seen met american jews grapple with and express in the past couple of weeks. essentially what you and many others are saying is that opposing israeli government policies does not equate to anti semitism. what kind of reaction did you get from this post and was it what you would expect it that's a very good question. no, to be honest. i, i put that sentiment out there and i had been putting, well, i mean, i, my social media following has gone way up over the past year before when i was just a journalist speaking out about these things. it was more in person to people, but i will say this, i put out a lot of different messages about justice and equality. and this one absolutely took all it. i think what everything that's been said thus far is absolutely accurate. there has been a shift. i think it has to do with myriad factors, definitely which was already said social media has played an enormous role. i think it's hard to overstate its influence because even, you know, the last big conflict 2014 social media wasn't

he decided to act like an american and express an opinion about the vaccine and whether or not he wouldion. if you disagree with the left you will be crit sighted. -- criticized. nbc and the hollywood globes, they want racial quotos. it's not black or brown enough. racial quotas are outdating but that's why nbc is pulling the plug. it's ridiculous. the real reason is they are losing money. >> sean, the reason that people like dave chapel are criticizing the woke culture it's self-preservation. they know damn well they are next. chapel's humor isedgey. he has a skit with the "n" word. it's funny but in today's woke culture you can't get away with. it's self-preservation. he used a c word to refer to sarah palin and called her son twig who has downs syndrome retarded. if the woke culture gets out of hand they are next. and nbc i have 2 words to say, al sharpton. they are giving us lectures about race. it's a joke. >> sean: good to see you both. we will respond to jimmy kimmel's attacks on a guest on this program caitlyn jenner. straight ahead. man 1: hey, i see you cancelled your order. w

square is down more than 10% some of the traditional payment names, these mastercard, american expressalso taking a hit. ammex is a slight outperformer it's down almost 3%. a different kind of payment play crypto exchange coinbase getting hit. cathie wood, coming in to buy the dip. the actively managed -- the broader crypto market, bitcoin, etheir yum and dodgecoin lower as the risk market simmers down. >> thank you very much a bunch of names to watch. as we go to break, look at semis. slipping into correction territory. shares of amd and intel down the stocks down more than 10 % from the april record. the ceo of ibm joined squawk earlier this morning this is what he had to say about the chip shortage as the s&p goes red for the month >>> i know we talked about economic shortages that's a real problem probably for a year or two to come. it's not just about automobiles. the chip shortage will impact computers, k through 12 education with laptops as well as tablets it will impact electronics it will go across the industry, and it's something the government should take quite seriously. t-

there's a joint venture co-owned by american express buying the corporate travel arm of expedia baseday is a robust return to travel including in the corporate space. any read on how banks are feeling about that >> one thing i'm hearing on the personal size from the people in the industry i cover which is finance is they're ready to travel on the personal side. like, there are going to be summer vacations there are going to be fall trips. people really are feeling pent up and with ncreasing penetration of vaccinations even though we have a ways to go in new york city and around the country, people are feeling more and more comfortable on the business side, yeah, you know, i have heard that people are returning to client visits i've heard some kind of funny stories, but also reassuring stories about going to see a client in another city and going from one person's backyard to another person's office patio to another outdoor restaurant so i think people are being safety conscious, but i would imagine that you are going to see a return to business travel even if it's not quite as robust

president uses that kind of expression, to define an american journalist, i found horrible and felt the need to write a book, "enemy of the people." but even more terrifying than that, the president used that expression very effectively and many, many, again, tens of millions of american citizens, believed him, and that result right now is that many people in this country, 60% of people in the republican party, according to recent polls, do not believe that joe biden won the election fairly. 52% of republicans believe that the press deliberately distorted the result of the american presidential campaign. why would they believe that? because donald donald trump said then a lot of people who represent part of the american press corps, who simply feel that it's in their interests -- i'm not quite sure, maybe they mean only financial -- i hope nat political -- interest to propagandize this idea. so it's dangerous no the country and democracy, it is dangerous for journalism, and very dangerous for the american people. but i sincerely hope that more a

just in time for summer and that could be partially why a new poll shows nearly two thirds of americans express the country. the last time we came close to that optimism was in december of 2006. now back to dateline. to dateline even before the menendez brothers went on trial, the defense scored a big victory. the california supreme court ruled that the confession tape made by doctor oziel could not be percentage at as evidence. of course, the priest -- i'd already conceded that lyle and erin could kill their parents. nearly four years after the murders, july 1993, if convicted here, lyle and eric could face the death penalty. their judge was stanley weisberg who had already presided over high profile cases. notably, the rodney king beating case whose results sparked the l.a. riots. judge weisberg ruled that each brother would have his own jury. and -- >> the electronic media that wants access to this cart room -- >> he allowed cameras in the courtroom. >> the idea that there was a camera in a courtroom in california was so new, so novel. >> reporter alan abrams in, once an attorney himself, co

secondly, he decided to act like an american and express an opinion about the vaccine, about whetherive the vaccine to his children. he had an opinion, and if you disagree with the lowest, you're going to be criticized, completely, regarding nbc, and hollywood globes, guess what, they won racial quotas. it's not black enough. it's not brown enough. racial quotas are outdated. but that's the reason, allegedly, why nbc is pulling the plug. they want four blacks, five browns, six yellow and eight whites. it's ridiculous. the real reason is they are losing money. >> sean: larry? >> sean, the reason that people like dave chapel are finally starting to criticize the woke consult which are, it's called self-preservation. they know damn well they are next. chappell is quite e has a skit called -- it's very funny but in today's woke culture you can't get away with that bill moore has been increasingly critical. for the same reason. self-preservation. he's used a c word in a stand up to refer to sarah pail len, michelle balkman and palestinian two bimbos. he knows damn well if this woke cultur

to credit cards, visa, mastercard, american express were down.the broader markets. visa was the biggest laggard in that group coinbase, that stock selling off about 6% today the company reports earnings tomorrow we did have kathy woods arc invest innovation etf coming in this week buy that stock all ice on earnings after the bell tomorrow. bitcoin despite being talked up as an inflation hedge and a safe haven assets is down today about 4% ether pretty flat. dogecoin also selling off big. trouble in the crypto markets today. >> much more on this afternoon's big market selloff coming up as we plow through the rest of the show the nasdaq down more than 5% just this week we will discuss whether there are buying opportunities to be had. amazon closing down % today. mike santoli will do a deeper dive on that name in particular when we come back. don't go anywhere. "closing bell" will be back in a couple of minutes. how do plastic bottles turn into this? wm and repreve have given new life to over 20 billion plastic bottles. and we're just getting starte

traditional payment names, visa and mastercard, have also taken a hit this morning, rebounding as well american express, that is still down 2.5%, so the underperformer there among the bigger payment names. but a different kind of payments play here. crypto exchange coinbase, that had gotten slammed earlier today. but cathie wood's ark invest coming this to buy the dip the actively managed etf adding 35,000 shares of coinbase to that funding they are now up 3% bitcoin is now positive. it had been down big time. ethereum is down but dogecoin -- >> elon musk did get some for his mom for mother's day >>> let's check in on other individual movers. airline stocks are under pressure american airlines will add stops to two long haul flights out of charlotte, north carolina, in order to conserve fuel southwest says it's flying planes with additional fuel to various airports to supplement local supply. >>> on the vaccine front some movers novavax is delaying its timeline for ramping up vaccine production and does not expect to seek regulatory authorization for its shot until the third quarter of 2021 so pushing

foreign language] >> [speaking foreign language] translator: i would like to express deep attitude to president biden and the american people for extending their warm hospitality to me and my delegation and my congratulations on how the u.s. is becoming an example for the world as it succeeds in overcoming covid-19, achieving economic recovery and uniting the nation under president biden's leadership. >> [speaking foreign language] translator: korea and the u.s. are strong allies forged more than 70 years ago. america is our everlasting friend who helped us and lead us in our time of need and i am pleased to visit the u.s. as my first trip destination since the start of covid-19 and to meet president biden and his new team. >> [speaking foreign language] translator: even in the midst of the covid-19 crisis, our two countries left the door open to each other, helped with the fight against the virus and we kept our people. and we are seeing increasing cases of successful cooperation between our two countries assisting in an industry that will shape the post-covid-19 era, such as semi conductors, batteries, and communic

home depot, boeing, american express, disney down 3%, intel down 3%.et needed, a little bit of correction? >> i miss seeing you in person. what you are seeing here is the culmination the last couple weeks. the big tech, the nasdaq hasn't been keeping up with the dow. the dow has been hitting new highs until way back yesterday. you are seeing that selling spread out a little bit. i'm going to say the same thing since i met 5 years ago or 6 years ago. the economy is strong enough, you are getting innovation. look at the earnings that came out, those are the companies are growing organically and growing through acquisition. stick with the game plan, any major pull back in the market is an opportunity to allocate money. the markets run higher. ashley: you mentioned inflation, you are seeing it in many cases, does that alter your strategy at all? >> it doesn't. if it gets completely out of hand then yes, if it stops the growth story in this country for the economy then yes, we have to revisit what we are doing and reallocate. where we stand has been gradual

american express, not such a big loss. one dollar and $0.48 along with other financials.ck is surging. i call that a surge. roku up 17%. is that because disappointing jobs numbers, more people staying at home streaming. is that the story? >> have you looked at the market share roku has, the dominant hardware choice, 40% market share, not only did roku report surprise profits in the first 3 months of this year sales were huge, reporting 53 million active accounts, 18.3 billion hours during the quarter. isn't that incredible and they are saying streaming demand will continue and why the company is expecting to make money again this spring which wall street had not anticipated. stuart: let's take a look at square. they are up this morning. is this like paypal, a play on bitcoin? >> crypto a boom for jack dorsey's of the company, they made twice as much money as wall street forecasts, sales jumping 266% thanks to crypto. actual bitcoin holdings hold around $170 million or they bought $170 million worth, lost $20 million on that bitcoin investment for the quarter, the value di

down dust real down 72 points, the winners on their, chevron, american express, jpmorgan chase, procter on the upside, they are the winners. s&p 500 gardener, the top performer there, don't know many of those companies in particular but they are up. it must be a special reason for that. nasdaq winners, fox corporation, craft times, etc. on your screens, the nasdaq winners. how about moderna, still up, no, no, they slipped to the downside. they are ramping up vaccine production at their massachusetts side, not good enough for the stock. >> it was up 2% or so a few minutes ago, we are looking at 50% increase in vaccine production and they are forecasting supply production between 800 million to 1 billion doses. you do the math, billions of dollars in sales in the next few years. stuart: i noticed pfizer had gone to $40 a share, maybe vaccinations extended to people as young as 12 but they drop to 39 now but the vaccinemakers this morning on the downside. how about uber, show it to me please, teaming up with an electric vehicle startup called arrival. what is this about? >> uber had to sel

there nearly 2%, caterpillar one.5%, jpmorgan, chevron, things are coming back i guess, up one%, american expressnners if we can norton lifelong up yesterday, some energy plays, diamondback energy, marathon, occidental, wells fargo also one of the top s&p winners of 2.5%, take a look at the nasdaq, there are winners on the nasdaq, intuit, alexa pharmaceuticals, ea, craft tines and regeneron pharmaceuticals. they are up 3.2%. let's look at the 10 year if we can. it is we are told that a 1-month high up nearly 5 basis points. 6.8%. of that deal goes up we normally see, taking a look at bitcoin, talking about cryptos. 566,$000 and let's look at oil, we've been talking about it all morning and the average price for a gallon of gas at $3, up one dollar and $0.15 from a year ago. talk about inflation. now this story. san francisco schools are set to reopen for just one day. i'm sure you are asking yourself why. it is so they can qualify for $12 million in state reopening funds. martha maccallum takes that on. did you see this bombshell report from the new york times? they claim the cdc exaggerated the