bertha coombs as more on that and the other top headlines. d she is with us now bertha, good morning >> reporter: good morning, brian, the president is heading to pittsburgh today to unveil the first in a two-part economic recovery proposal. that first portion is expected to overhaul this country's infrastructure and manufacturing systems. while the second lag of the plan will involve big investments in held and child care. to pay for the likely multitrillion dollar price tag, president biden is expected to push to raise the corporate tax rate from 21% to 28% and of course, multinational corporations to pay significantly more in taxes to the u.s. in profits they earn overseas meanwhile, the fallout over the archegos capital melt down continues to mount as wall street tallies its losses. jpmorgan now upping its estimates for total losses for banks at the center of it all from 2 to 5 billion from 5 to 10 billion, calling them very important. reuters is reporting that u.s. regulators have been in discussion with market players to determine the fu

bertha coombs is here with those. od morning, bertha >> good morning, brian >>> the european union is looking to curb its covid-19 vaccine exports for at least six weeks, according to draft legislation made public this morning. officials say vaccines from astrazeneca, pfizer and moderna could all be affected. and while the uk is likely to be the biggest loser if implemented, canada and israel could also suffer. >> meantime, amazon is naming adam selipsky to replace jasky the move marks amazon's return and with the software acquired by salesforce for more than $15 billion. originally one of the first vice presidents hired in 2005 to work at amazon web services known as aws, will selipsky worked closely with jasky >>> and intel will spent $20 billion to build two newchip factories. it comes after the first public remarks taking the job in february shares of intel rising on the news rivals, taiwan semiconductor falling in overnight trade brian, certainly, pretty good news for the chip equipment makers that intel is invest

in this case, i assume the money will be coming back, bertha coombs thank you very much, bertha. >>> and big money story that rocked markets the last couple sessions, the forced selling of hedge fund archegos capital management and the billions of dollars of stocks that have gone wrong, at least synthetic stock bets to get on what's happening here, leslie picker who has been all over the story leslie, what have we learned in the last 24 hours or so? >> good morning, brian we've learned a lot and there are still a lot of questions remain as you know, as many people audience know investing risk comes in variety of forms, combination of leverage, and concentration and liquidity. looking back, archegos management blew all three of those out of the water with its risk appetite. the family level's leverage defied logic and able to amass positions with 8 to 1 leverage. and in some trades that ratio skyrocketed to 20 to 1 times the report cites people familiar with long leverage agreements. now, that type of leverage is practically unheard of and it means that even a small move downward in t

. >> bertha, thank you the stock is up 33%, best performer on the dow bertha coombs. >>> we'll look for president biden to announce his new infrastructure package and importantly, how they're going to pay for it, whether that includes higher taxes. >> we certainly are. we were down a third of a percent. "fast money" starts now. >>> i'm melissa lee and this is "fast money. guy adami, tim seymour lululemon is lower, we'll bring you all the headlines straight ahead. >>> plus new details on president biden's massive infrastructure plan. the expected price tag, $2.25 trillion

that turned testy about sharing sites are often sharing a lot of stuff that is dangerously untrue bertha coombsd the other top headlines. bertha, good morning >> reporter: good morning, brian. the heads of facebook, twitter and google going before the house and energy committees. grilling the ceos over misinformation on the platforms. the first hearing since the capitol riot and rollout of the covid vaccine. facebook's mark zuckerberg says big platforms should be more transparent about how they deal with content that breaks the law, private companies shouldn't be the arbitors of truth >> we don't want a world where private companies judge what is true where every post has to be fact checked before you hit send. at the same time, we don't want misinformation to stop people from voting or causes other harms. >> reporter: the federal reserve says banks will have to wait until june 30th to accelerate dividends and shareholders' buybacks ability to restart the program will depend on the stress tests. the financial firms, the biggest, have been limited for the last year as a precautionary measure dur

bertha coombs has more on this st story. >> reporter: good morning, brian.ther wrinkle on the astrazeneca vaccine. concern over astrazeneca may have included outdated information from the clinical trial of the coronavirus vaccine casting doubt over the published results. the nih overseas the clinical trials in the u.s. and saying we urge the company to work with the data safety monitoring board to review the efficacy data and ensure the most accurate, up to date efficacy data be made public as quickly as possible. astrazeneca did not immediately respond to a cnbc request for comment. a statement comes one day after the findings of the large stage three u.s. trial shows the vaccine developed alongside university of oxford is 79% effective in preventing symptomatic illness and 100% against hospitalization and severe illness to date, 9 million have been administered across the eu and uk where it has been approved. brian. >> the results yesterday were stunning bizarrely, a lot of the headlines focused on the 79% number if i get sick and don't know it, do i care?

vaccines will apparently be key to convince many of you to get to the road or take to the skies bertha coombs with more on that survey, bertha >> that's right, brian, after a year of pandemic restrictions americans are anxious to hit the road, and many see the covid vaccine as a ticket to safe travel nearly three out of four travelers surveyed by the points guide travel site say they would be comfortable going to a destination that actually required covid vaccination nearly half say they are somewhat or much more likely to travel to such a destination italy and iceland are among them 26% wouldn't be opposed to it. while one in four are less inclined to travel under a vaccine mandate. flying or taking a cruise, there may not be a choice. >> we have heard from travel p providers, cruise lines, this is a mandatory requirement. this could be the new normal, at least for a while. >> now, according to the survey outdoor vacations remain most popular with 70 percent saying they would feel safe traveling to a national or state parks, half to a public beach or resort only one in five saying they would

bertha coombs is here, and she has those. od morning, bertha. >> good morning, brian, moderna says it is starting human testing on a modified version of its vaccine designed to target the covid-19 variant coming out of south africa. the company says 60 volunteers have received the booster shot so far after receiving a full dose of the original vaccine last year. soft bank company coupang, pricing shares at $35 each according to reports, giving it a valuation of $60 billion, making it one of the biggest listings by an asian company on a u.s. exchange. coupang begins trading under the ticker cpmg. the ceo will join "squawk box" at 8:20 eastern time. >>> consulting firm mckinsey releasing a first of its kind study it on race in hollywood, identifying the entrenched racial inequities in the entertainment industry and the opportunity that could be unlocked if it addresses them. among the findings, mckinsey says black led products are consistently underfunded and under valued despite clear evidence of outperforming other property ad

we go to bertha coombs be bertha, good morning >> reporter: good morning, brian. s.e.c.g an inquiry into the spac frenzy reuters said the securities regulator sent letters to wall street banks for information on the blank check dealing and information on how underwriters are manage the risks. >>> general mills ceo speaking out saying his company takes food safety seriously. comments coming after a customer claims he found shrimp tails in his cereal here is the closing bell ex response yesterday. >> we take food safety seriously at general mills this is highly unlikely this occurred at a general mills facility we are trying to see what happened when it left our docks and he opened it we hope to have more to share at later date we are trying to figure out what happened and where >> reporter: and social media groups coming under pressure to put an end to vaccine misinformation research from the center for accounting for digital hate. 2/3 of the vaccine content the group is calling on facebook and google and twitter to ban the dozen voices which include robert f. kennedy jr

bertha coombs, see you in a bit.ou. >>> up next, some head way in the suez the "ever given" partially floated. not free yet we will bring you the very latest look at that backhoe you go, backhoe. >>> later on big news in the fight against the pandemic as cases rise in some states, the facts on the big milestone on vaccines you have got to hear >>> and get excited, new yorkers. united airlines is about to do something it has not done in years in the new york area we'll tell you what that is when we return. 'rw futures off 170. wee back right after this. i hope the vaccine can get me one step closer to my fiancé. dance on stage. spin class! i can't wait for my patients to see my smile again. to hug my students. to give my parents a proper send off. to go salsa dancing. no. i can't wait for you to meet my mom. play my piano for my friends. to give high fives to our patients. i think we are one step closer to being...better people. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. >>>

cnbc's bertha coombs on our top story tonight, live outside yankee stadium will people will soon be able to get the j&j vaccine anytime of the night hi, bertha. >> reporter: that's right, shep, they are going to kick off 24 hour operations here at yankee stadium tonight at 8:00. the first of three such locations that will be rolling out the j&j vaccine on the overnight shift. you know, yankee stadium is in the heart of the bronx here in new york with a large hispanic and black population, but since this site opened a month ago, vaccination rates among community residents have lagged those of wealthier communities just 12% of bronx residents have received at least one dose of the vaccine at this point while in suburban west chester next door, it's 18 1/2% in manhattan, which makes up new york county, nearly 20%, and when you break it down by zip code, the numbers are even more stark. here in the neighborhood around yankee stadium, 7 p% of folks ae vaccinated in manhattan's park avenue zip codes, it's above 20%. community care chief which has operated this site said the slots tonight are r

here's cnbc's bertha coombs. >> reporter: theresa and daniel hernandez had no qualms about the covidouldn't get an appointment online. then their daughter heard about openings at salud health center outside denver and got them a spot. >> i haven't been able to hug my kids and my grandkids in over a year so this was like, you know, really, really good. >> a blessing to us. >> a blessing. >> reporter: latinos make up 22% of the population in colorado but just 5% of those immunized so far the biden administration is looking to community health centers like salud to try to address that disparity >> they like us to concentrate on our patient population, but we can use that vaccine for other vulnerable populations in the community. >> reporter: salud will be getting 5,600 doses a week. >> what that will allow us to do is to plan better, do our outreach efforts, knowing we're going to have vaccine and scheduling more than one week out. >> reporter: the administration also acknowledging the value of trusted partners to combat vaccine hesitancy. >> we have to be honest. we have to address dir

things like tests, treatments, doctors' appointments, with one patient's story, here's cnbc's bertha coombs reporter: everything was shutting down the day hannah lockman got sick one year ago. >> i was actually at work when i started feeling really really bad. i just remember it was the day that they cancelled march madness. >> reporter: march 12th, struggling for breath, she went to the hospital, the first of 18 trips to the e.r. in nine months >> my medical expenses last year, if i didn't have insurance were upwards of $200,000 even with insurance, it was close to $8,000. >> reporter: to this day, she still struggles with headache, heart and lung issues that won't go away. >> like my rib cage has been sore for almost a year, which is hard to believe. >> reporter: americans are using fewer health services overall during the pandemic, but covid costs are more than making up for that health care spending. the vast majority of it goes to hospitalizations, but then there are those slow recovering, long-haul cases like hanna's. >> we're seeing about 7 1/2% of people have claims for covid more t

. >>> good morning, i'm bertha coombs from cnbc. stocks will open lower at this point but the dow is coming off of its 17th record high. the s&p 500 and nasdaq ended in the red yesterday amid the fallout from hedge fund being forced to sell positions in some media stocks that include viacom cbs. bank stocks fell yesterday with two of the hedge fund's lenders warning they suffered losses related to the massive and chaotic stock sale. the dow and s&p are firmly higher for the month. in focus today, reports on home prices and consumer confidence. >>> and you're going to have a bit more time to contribute to your i.r.a. for the 2020 tax year. the, moved the deadline to may 17th, the same day that you have to file your tax return. the agency postponed the filing deadline from april 15th after calls for more time following the passage of the $1.9 trillion american rescue plan. that measure made several changes to the tax law, and also tasked the, with sending out a new round of stimulus checks. so you can contribute to your i.r.a.'s, roth

i'm bertha coombs. wall street will open lower this morning the move coming foaling president biden's signing that $1.9 million stimulus package into law and the tech stocks amid optimism over the vaccine rollout. for the week, the dow and nasdaq are up more than 3%. the s&p up 2.5%. this morning we're going to get a look at inflation on the wholesale level and get reports on producer prices as well as consumer sentiment. >>> meantime, honda plans to sell two all electric suvs in the u.s. for the year. it will also soon offer hybrid versions of the top selling vehicles. honda acknowledges that it has work to do to comply with lower emission targets coming from the biden administration and the california ban on sales of new gas powered engines starting in 2035. automakers are set to roll out 22 new electric vehicles in the u.s. this year alone. >>> and google has introduced ways that you can help make maps more accurate and informative. i guess stealing it from waze. you can upload photos with a short de

i'm bertha coombs from cnbc. wall street is set to open lower this monday morning after the dow and s&p 500 closed at records on friday. the dow is up nearly 7% for the month but the nasdaq is still in the red. investors have jumped out of high-flying tech names amid optimism over the reopening of the economy and vaccine rollouts. traders are bracing for more volatility during this holiday shortened week, as we reach the end of the quarter, pension funds and mutual funds generally rebalance portfolis during this last week. >>> we'll get reports on housing, consumer confidence, manufacturing, and jobs, plus president biden expected to unveil his infrastructure plan on wednesday. >>> jeep meantime plans to install charging stations for electric vehicles at offroad trail heads across the country over the next year. it's part of a team effort with electrify america. the first will open in moab, utah and the rubicon trail and big bear trail in california. chargers on the jeep network will either be solar powered or co

i'm bertha coombs from cnbc. checking the futures right now, it looks like stocks are going to open lower this morning on wall street. we had a pretty good day yesterday, the dow rising more than 100 points and the s&p 500 broke a two-day losing streak. the nasdaq the standout rising for the fifth time in the past six days. those gains coming as the yield or the interest rate on the ten-year treasury bond fell after touching a 14-month high last week. today marks the one-year anniversary of the market's bottoming during the pandemic's slide last year when stocks tumbled 30%, the fastest pace on record. since then, the dow and the s&p are both up 80% and the nasdaq is the standout, nearlying doubling up 93%. >>> groups representing airlines and the tourism industry are push willing the white house to come one a plan to boost international travel and eliminate restrictions imposed in the early days of the pandemic. one of the things they cite is the vaccine. they want people who have been vaccinated to be exempt fr

i'm bertha coombs from cnbc.we're tracking the futures right now and it looks like stocks are going to open slightly lower at this point. it's really kind of extending the seesaw nature in trading the last couple of days. yesterday we were fairly high and then just crashed going into the end. the nasdaq in particular was down about 2% as apple, facebook and netflix all fell about 2%. tesla was down nearly 5%. the dow had been up as much as 300 points during the day and then in the last few seconds just dipped into the red on the day. we saw cruise lines and a lot of the reopening trades like airlines also fairly weak yesterday after having been strong on tuesday. this morning we're going to be watching for the latest report on unemployment claims. folks filing for those benefits. meantime, fidelity looks like it's going to get into the bitcoin game. they're going to launch a fund that tracks the price of bitcoin expanding their push to bring cryptocurrencies into the mainstream. the etf will aim to match an index

i'm bertha coombs from cnbc been we've got stocks looking to open higher this morning as the markets yesterday's strong close. we saw stocks bouncing in the afternoon with the dow swinging more than 500 points as trades tied to the economic reopening came roaring back. the dow and s&p 500 roughly flat for the week and the nasdaq is in the red by just under 2%. today we're going to get reports on personal income and spending, and consumer sentiment. >>> airlines are adding dozens of domestic routes as they fight for travelers looking to fly after being cooped up over the past year. airlines are trying to connect cities that had previously been hard to fly between. united offering direct links between smaller midwestern cities and popular destinations like hilton head, south carolina, pensacola, florida, and portland, maine. southwest, delta and spirit also recently announcing new routes. passenger volume at airports hit a fresh pandemic high this past week but business travelers are really part of the bulk of the travel of public that generates as much as half revenue for major carrie

i'm bertha coombs from cnbc.wall street set to open higher as the dow looks to extend yesterday's gains and be the fourth straight day of gains for the dow jumping 464 points to a record high yesterday closing above 32,000 for the first time. just 42 days to go from 31,000 to 32k. the nasdaq ticked down slightly. investors continue to rotate away from tech and growth stocks that have dominated over the past year. the gains in the dow coming as the house passed the $1.9 trillion stimulus package adding to optimism about an economic recovery. today we get as we do every thursday the number of people filing for new unemployment claims and we'll also get a gauge on job openings and turnover in the a month called the jolt report. boeing close to a deal to sell dozens of its 737 max jets to southwest airlines, reportedly that deal worth billions of dollars. this would be the company's largest order for the max since the faa lifted the safety ban on the jet. a deal would come just months after alaska airlines agreed to

i'm bertha coombs from cnbc. wall street set for a mixed open this morning, after stocks slipped yesterday and worries about rising interest rates. we saw the yield on the ten-year u.s. treasury bond hit a 14-month high. bond yields have been rising this year, essentially investors no longer looking for that safety of u.s. treasuries as they've seen the vaccine rollout and seen an expectation of a broad economic recovery. the dow falling more than 100 points, reopening airlines and cruise lines were higher on the day after consumer confidence data topped forecasts as well. in focus today we'll get reports on hiring in the private sector, manufacturing and pending home sales. >>> wells fargo meantime plans to start bringing employees back to the office after labor day. the bank had been telling workers month to month whether they should keep working from home. now, it's hoping operations will start to return to normal in september. a memo sent to staffers didn't say whether they'll return full or part-time. about

i'm bertha coombs from cnbc. wall street is set to open mostly higher this morning.ll see it follow through. investors came pouring back into popular tech and growth stocks after a pullback. gains in apple, facebook and amazon, with tesla also helping to drive the nasdaq nearly 4%. see what i did there? it was the best day for the nasdaq since last november. the index had fallen into what technicians call a corrections territory, down more than 10% from its recent highs. close to recovery now. we'll get a report in a few minutes on consumer prices, which could see whether inflation is running hotter than expected. kayak is launching a new feature to allow guests at smaller and independent hotels to use the app to check in, lock their rooms and order food or fresh towels. the travel site will debut the system next month at the kayak miami beach hotel, a newly branded property that was closed for the past year during the pandemic. guests can use the kayak app to pick a room, request housekeeping for a late checkout. >>> walmart is hosting a live shopping event on tikto

hi, i'm bertha coombs from cnbc. i've got your business update here. wall street looks like we're going to open a bit higher this morning. stocks falling yesterday, the dow losing more than 300 points, dragged down by caterpillar, which fell more than 3%. the s&p 500 was hit by losses in airlines and cruise lines, while the nasdaq got hit once again by big tech names, apple, facebook and tesla all closing lower, dragging it down by 1%. the move coming because of renewed concerns about the economic recovery, as covid cases are rising in the u.s. and abroad, and germany has a lockdown. today we're watching for a report on demand for durable goods due out at 8:30 eastern time. and robinhood, the online brokerage app at the center of the trading frenzy with gamestop filing for an ipo. the move comes in the midst of a historic boom in the markets so far this year. companies have raised more than $100 billion through market listings. robinhood has found success of course as well as criticism for its business model to make stock trading easier for retail inve

. >>> tomorrow walgreens will report its first earnings with roz brewer at the helm bertha coombs has cold and flu season, partly offset by the vaccine rollout, but ceo roz brewer's debut is the real focus of the earnings call just a couple of weeks on the job. it's investors' first chance to really hear the former starbucks exec talk about her vision for transforming walgreens omni channel retail and digital health strategy. it will be the get to know you quarter, guys. >> bertha, thank you the stock is up 33%, best performer on the dow bertha coombs. >>> we'll look for president biden to announce his new infrastructure package and importantly, how they're going to pay for it, whether that includes higher taxes. >> we certainly are. we were down a third of a percent. "fast money" starts now. >>> i'm melissa lee and this is "fast money. guy adami, tim seymour lululemon is lower, we'll bring you all the headlines straight ahead. >>> plus new details on president biden's massive infrastructure plan. the expected price tag, $2.25 trillion

. >>> now to some of this morning's other big corporate news that's out there on a busy friday bertha coombs headlines. bertha, what are some of the headlines? >> good morning, brian southeast ride hailing grab is reported to go public through a spac deal because isn't everyone the "wall street journal" says a tie up could value the company at as much as $40 billion. that would make it the largest spac deal on record. grab is reportedly talking with atimeter capital management which has two spacs. the journal says it's unclear which is in discussions with the start up g goldman sachs meantime talking to employees about a return to the office in a global town hall meeting yesterday, ceo david solomon told the bank's workers he hopes to have them back in buildings by the summer. and netflix wants you to stop sharing your password so the streaming giant is testing a new set up that pops up a message on screen reading if you don't live with the owner of this account, you need your own account to keep watching. reports have suggested about a third of all users share their passwords with others. b

bertha coombs has that for us. >> it's been a juggernaut. on earnings just two weeks on the job, the walgreens ceo sounding a confident note saying she intends to move swiftly and decisively on moving the company forward. for the quarter which ended before she became ceo, the earnings are complicated because of the sale of alliance health care unit. taking that out, adjusted earnings of $1.26 per share were well above analysts expectations and sales came in at 32.8 billion. now, overall comp sales were up about 2% driven by 78% increase in digitally initiated sales, one of those things that ros brewer concentrates on front of store retail down due to the soft cold and flew season but pharmacy up 4.5% part of that driven by the vaccine rollout. the company is boosting its outlook in part expecting a rebound in europe, but also a tailwind from the acceleration of vaccinations in the u.s they expect to do between 26 million to 30 million vaccines over the next few months each of those vaccinations will come in at $40 brewer says she sees the co

bertha coombs with the details >> reporter: yes, sara oscar priced above the rain thrain -- range atw that and traded in the red all day. the tech enabled obama care insurer is backed by alphabet and the co-founder josh kushner's thrive it's doubled aftermoving into the medicare market but in eight years has yet to make a profit here trading near the lows of the day. the ceo told me they have considered doing a spac but have a habit of doing things the hard way and he wanted a real listing he says. competition certainly getting harder as they look to push into more virtual health care plans, which all of the big guys are looking at as well sara >> bertha, thank you bertha coombs, oscar down 10%. mike, the higher rates, higher treasury yields if they continue does that end the ipo enthusiasm we've seen or is this something specific >> i don't think it's rates so much i think it is supply it is just a number of new ideas. something like 500 spacs in the last year. direct listings have tended to trade a little bit tough on the first day at times so maybe it is not that surprising that y

. >> bertha, thank you the stock is up 33%, best performer on the dow bertha coombs. >>> we'll look for president biden to announce his new infrastructure package and importantly, how they're going to pay for it, whether that includes higher taxes. >> we certainly are. we were down a third of a percent. "fast money" starts now. >>> i'm melissa lee and this is "fast money. guy adami, tim seymour lululemon is lower, we'll bring you all the headlines straight ahead. >>> plus new details on president biden's massive infrastructure plan. the expected price tag, $2.25 trillion later, a key piece of data showing u.s. consumers are ready to go on a shopping spree. we'll break down the stocks that could see the biggest boost. >>> we start off with -- that's right, there's some risky business going on in the market right now. check out everything in play the most recent example, a hedge fund going bust. there's the bitcoin boom and explosions in trading activity investors are still saying bring it on. 51% of individual investors think the market is still heading higher from here so are we pricing

bertha coombs with the story bertha. >> sara, amazon is launching its first work site vaccination athour at its st. louis fulfillment center though the company had appealed to the biden administration back in january for direct access to the vaccine supply, like every other employer, it's had to work with local health officials to get the doses. so far 1,000 workers have signed up for the shots in missouri this afternoon, and they say they're seeing strong demand with clinics set for nevada and kansas in the coming weeks >> we are really encouraged by the early enrollments that we've seen for the on-site appointments i think with our large employee base that we have at our fulfillment centers, we're able to get a large number of people vaccinated pretty quickly. >> with more vaccine supply coming on, half of the states in the country are now allowing working -- and working with employers on work site clinics to make it easier for their employees in manufacturing and food production and other areas to get the shot. in areas like detroit and will county, illinois, they have starred to

especially when it comes to health care and the costs of lingering effects of covid for that, bertha coombsk at covid-19, the next chapter i wish we didn't have to talk about the next chapter >> well, we're hoping the next chapter is when we are over this, but it's really a lingering problem for so many people covid costs continue to be a big chunk of health care spending. for some patients, it goes well beyond hospitalization according to new cigna data, 7.5% of covid patients suffered long-term, called long-haulers her lungs shut down, making for 18 trips to the e.r. last year for breathing, heart issues and big bills. is. >> my medical expenses last year, if i didn't have insurance, were upwards of $200,000 even with insurance it was close to $8,000, which is a lot, obviously. >> obviously early data on claims for nearly 150,000 employers show higher diagnoses for heart conditions and tissue damage, nervous system, lung and mental health issues in post-covid patients than the average they saw in 2019, requiring ongoing treatment. >> it's very concerning because you have this new populati