joining us is brian cornell, target's chairman and ceo. great to see you this morning.y a string of really solid results going all the way back to 2017, but this quarter may be for me one of the highlights i think our team executed. store comp of 18%. great digital performance, up 50%. team effort. great supply chain support merchants, marketers, all coming together to support. the results i think speak for themselves >> brian, one of the things people have been watching, all of the stocks throughout the pandemic, stocks that did so well during the pandemic, people keep waiting to see when and if they fall out as things start to open back up i think that's been one of the huge questions home depot did say on its conference call that the trends seemed to be slowing in recent weeks. is that the case with you? what have you seen in terms of traffic, in terms of shoppers, in terms of what people are willing to do as other stores open up and as people get out and start doing other things >> becky, i think we're benefitting from investments we're making for years investment i

to there, and that is really causing the supply chain problem becky asked a great question to brian cornell about the ships coming in, with all the goods in l.a., and brian said, look, he doesn't have a problem, he's got scale. >> you're talking about this, but i'm looking at this, i mean 34%. i'm looking at the significant fall in the cryptocurrency >> elon musk elon musk declared a top >> ether down -- >> it's the chinese, jim it's the chinese. >> musk and china. >> they tightened the restrictions banned financial institutions, related to cryptocurrency. it's a fresh crackdown they want to create their own digital currency we believe and by the way it will only help their surveillance of everything that goes on in chinese society, because they'll know exactly who is spending what at any moment, one would expect not to mention they have this idea of perhaps trying to replace the dollar sometime with their own chinese digital currency. >> sure. and they had currency controls carl, i think we can relate obviously with what's going on with bitcoin, with the sell-off in equity, but - >> of cou

brian cornell is the chairman and ceo of target.didn't, out of his salary from unfortunately. it came straight from the shareholders. he said he had no problem with the violence against target. "as we face an inflection point in minneapolis and across the country, we are listening to our team. we are committed to using our size, scale, and resources to help heal and create lasting change." but not help heal the country. no. they don't care about the country. we know that because target went on to commission a pro-blm group to paint a mural on the front of the target store in minneapolis. the same store that blm broke into last year. if you are wondering how deep the well off corporate decadence is, it's bottomless. it shows the words together and i can't breathe. it also depicts a building on fire. now it is not clear which act of arson that mural on target is celebrating. targets across the street, they also set on fire last summer. but the point is clear. target endorses rioting and looting and so as the rest of corporate america.

good thing because we couldn't get those either stacy, thank you >>> do not miss this target ceo brian cornellew at 7:10 a.m. eastern time >>> coming up, call it a major smile-stone in the big apple bounceback the president of the legendary museum of art is here and what it means for the legendary halls. and why there is a big giant bluebird riding a moon on the mets roof? hmm. >>> other big top stories, amazon said it's suspending its ban on police using its software for facial recognition as it continued calls from activists who wanted the software ban to be permanent >> ratheon technology expects t cut its office footprint 25% >>> and ceo greg hayes has said the company has shown it can be productive in varying work environments and that flexibility is now absolutely essential. >>> and squarespace will begin trading on the nyc under the ticker sqsp, setting a price at 50 bucks a share sd> dow futures off 156. naaq futures off more than 1%. we're back, right after this cutting edge made user friendly. in other words, we want a hybrid. and so do retailers. which is why they're going hybrid, w

market what is driving the market are continued fears of inflation we've heard ceos, brian cornell from target, talked about price increases in food and beverage, and we are going to continue to hear that as the market believes that the fed is behind on their moves. so that's what is pressuring the market eventually we will get to a level where it is fine, and i think we're actually getting there in parts of tech what i found very encouraging, even at the lows of the market today, is that you had cheap, reasonably priced, sustainable growth stocks like sky worx and qorvo, the semis, up on the day, and not so much the crowdstrikes which returned as well as the zooms, et cetera so to me the market is starting to find a little bit of balance. to me, i'm sticking with a lot of cash right now because i don't think the sell-off is over yet but eventually i will put money to work again in, reasonable growth and reasonable cyclical. >> jenny, what is the story here bank of america says the risk is that the pace of the rally from 2020 was too fast. gee, thanks. you think? i mean is that what par

. >> without telling me brian cornell is the greatest human being on planet earth, pete, which i don'tt you to do. >> look at the stock, man! >> which i don't want you to do. don't do it. >> all right. >> i want you to tell me why target has so dramatically outpaced walmart from a share price perspective. okay over a year. >> okay. >> 76% for target, 13% for walmart. >> it is really easy. >> over one month, three month and year-to-date, target is in the green, handsomely so walmart hasn't done anything, and it is negative why? >> right well, i think it does come down to the fact that walmart did make that move and then it paused, right. and, meanwhile, target because of the stickiness that i'm talking about here, and i'm talking about all of the digital sales, all of the different things target has been doing that everybody has been trying to do as well, but the execution that they've done there, scott, i think when you look at it -- and i always brought this up there's two fold really right now what we're looking at. target still today trades at a cheaper valuation than walmart, just

gushes about so much, he just loves the job brian moynihan is doing almost as much as the job brian cornelle at target what do i do though now for real, all jokes aside? the stock is up a lot, all right. has it run its course? >> well, i mean all of the banks have risen quite a bit, right? i mean i own not only this one, but wells fargo, which is up 49% on the year and prughdential whc has lagged only 29% of the year. those three i like a lot i still own morgan stanley as well they've done a great job bank of america of still up, he is buying back a ton of stock. it basically yields about 1.8% it is going up over time i just like the diversification. they reported a very good quarter underneath the surface securities rose 25% year over year investment banking rose 62% year over year and up 20% sequentially trading was very strong and credit cards did very well so, yeah, obviously there's pricing at a lot of good news up here, but, again, 1.4 times book, 14 times earnings, i can live with it. >> sarat, a complete repudiation of the call today as bank of america shares are up 1% in the face o

. >> yeah and that's because brian cornell not only gave great guidance but talked about how privates are and he also just frankly is, he's one of the most confident conference calls where he didn't say the current month is worse but the current month -- >> -- gap does look like it may open higher. >> i want to disagree with this call >> we come back to the same theme, the stocks have had unbelievable moves over the last 12 months. you will every see a year like that again 300 pluns percent in the stock price. >> -- second when mickey drexler ran gap it was a year after year -- >> -- it was. >> -- they were people like you always want to hop off -- >> within those ten years i doubt they ever had a 300 percent move in the stock price in one year. >> carl what we're seeing are incredible moves and we really take it for granted or we look at dogecoin or whatever coin you want to mention right now. favor coin i have tell you he's right people just wrote off retail last year because the pandemic and retail turned out to be the place to be. it is really remarkable. >> yep and all sort of h

we will veew cmeha nomnts from ceo brian cornell next, in the "market zone." ♪ ♪ look, if your wirelessrrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. ess but all my employees need plasomething different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. this is how you become the best! [wrestling bell rings] [music: “you're the best” by joe esposito] ♪ try to be best 'cause you're only a ma

we do have an exclusive interview on "squawk box" with target ceo brian cornell joe?t plus, that's their streaming service? what is -- >> no, no, no, it's their equivalent of amazon prime you get special additional thing. discounts on the gas station. >> wait. wait y. would amazon and walmart -- it's all so confusing. maybe -- >> they are booming. you know about the ticktock tie up for walmart, the thing they've been interested in doing. things are definitely moving in different directions this is kind of their answer to amazon prime, a way to get more information about their customers. >> no content yet. no programming. >> coupons, discount on gas at walmart stores who knows down the road what they're doing. >> no content. >> learn much more about their customers. the expectation is they probably have somewhere between 8 and 9 million customers that have signed up. maybe we'll hear more about that, maybe we won't amazon prime launched all the way back in 2005 they have 200 million people using amazon prime a lot of ground to try to make up it's their way to really ge

shares of target target out with better than expected numbers earlier this week we spoke with brian cornell. shares closed yesterday at an all-time high back to the ipo of 1967 it is up slightly. $222 is where it is trading. what's down is everything related to infrastructure. infrastructure plays ran up as we h anticipated big numbers as that has pushed on, the negotiations have pushed on through time you have seen a pullback alcoa down 10% and so is wabash. deere shares are up slightly we will keep an eye on them. that company is reporting this morning an shares up 1% joe. >>> expect states rolling out incentives vaccinated it is the rate of people getting vaccines has dropped shortarply. the seven-day moving rate drops to 1.5 million as of yesterday, 38% of the u.s. population, approximately, fully vaccinated 48% have received one dose that's not enough. that's not enough. let's go after the attention -- this is bizarre for me ohio had $1 million lottery. it generated a pop in the vaccination rate of 28%. new york and maryland following suit they will receive a scratch-off ticket with pr