cathy, cathy, as if he was hoping she'd come walking out of that burning forest.investigators, which is how gerald johnson, a brand new detective at the time, found himself deep in the georgia woods early that autumn morning. >> what happened up there on the hill was -- well, you -- you can describe to me as best you understood at the time what had happened. >> sometime during the night, he had gotten up, according to his statement, to go outside to use the restroom. and as he came back to the tent, he realized that he had been bitten by something or was having some type of reaction, that his throat was closing up and -- >> a sort of anaphylactic shock type reaction? >> well, that -- that's what i described it as. and she takes him out to this toyota pickup, if i remember correctly. he's crawling on his hands and knees at this point and having all these symptoms of some type of allergic reaction. >> johnson mostly just observed, he said, as the georgia bureau of investigation looked into what happened. but took no action. and eventually, the coroner ruled cathy's

cathie: i would say that --

cathie: i do. we do. crypto analysts -- we go through soul-searching times like this, and, yes, our conviction is as high. the one thing that has changed, however, is the environmental concerns around bitcoin in particular have caused people like elon musk to pull away and say, "whoa, let me make sure i understand this." we believe even this will change because right now, the percentage of bitcoin in mind is quite substantial with renewables. we also believe and we wrote a paper in conjunction with square on this, and we are going to have a conference about it in july -- we believe that bitcoin mining integrated into the distributed grid -- and by that, i mean solar roofs, power walls in homes, utilities, merchant power producers starting to include bitcoin mining in the ecosystem -- why would they do that? they would do it because renewables are intermittent power sources, right? weather -- is it sunny or not? wind -- is it windy or not? bitcoin mining could take off if there's excess energy from solar b

the nasdaq briefly turning positive cathie wood is selling 30% of her apple stock. will she also come to her record decision and are ev stocks running out of juice? will they rev up again "power lunch" starts right now >>> thanks, melissa. i am courtney reagan as melissa mentioned, stocks are selling off for the second straight day this time the dow is lower remember do you 35,000 we're close are to 34,000, 800 points from that 35,000 mark bob pisani has move on the stock exchange hi there, bob. >> hello there, courtney we are down but stable very interestingturnarounds have happened in the middle of the day. first issues that everybody is most concerned about is megacap tech many of these stocks, 10%, 12% off of the high, megacap has held up better it has more long-term investors who will stay with it. what's more concerning is what we see with the more spec la activity tech areas. a lot of these names you're looking at here, they're 40%, 50% off of their 52-week highs now ear seeing investors start to say, well, how far down do we have to go here? 50% off, that's

the difficulty is that cathy i has a repeat -- cathy has a piece of has a repeat —— cathy has a pieceine, mine is on the nhs, and others will be on other mechanisms in europe. how are you going to collate that information into one system that works when you go through the border? i works when you go through the border? ., �* ~' works when you go through the border? ., �* ~ , ., ., border? i don't think you need one s stem border? i don't think you need one system but — border? i don't think you need one system but you — border? i don't think you need one system but you need _ border? i don't think you need one system but you need a _ border? i don't think you need one system but you need a trust - system but you need a trust framework that can be accessed in a safe and secure manner so that people don't have to share their data, they can control their data. in the eu we will have the digital green certificate which should be in place byjune. this will enable eu citizens to confirm that they have received their vaccines, are fully vaccinated. i suspect, received their vaccines, are ful

. >> reporter: cathy left cadence's fathe when she was about a year old was he abusive toward you? >> yeah. smashed me in the face with a playtex bottle like at close range. >> reporter: several times she says he tried to strangle her. >> he held me up against the door like that here and i remember being like this is it like i'm going to die. >> reporter: she said she was afraid to file police reports but years later when the father pushed for joint custody she wanted the family court judge to pay attention to his history of violence. >> i said he needs t be supervised until he can get help. >> reporter: what did the judge think of that idea of supervised visitation? >> he just ignored it. >> reporter: in may of 2018 the judge in the case issued a custody order acknowledging that when questioned about the multiple incidents of violence, aggression and illegal behaviors father did not express any remorse or regret. nor did he accept responsibility for the conduct. but the judge granted the father unsupervised visits. less than three months later, caden's fathe beat cathy's little gi

number of actively managed funds have accumulated large positions in many small cap stocks, parly cathieood's arc innovation fund. take a look at companies like stratasys and lending tree this means that stock prices may be subject to the whims of investors in the fund, investors start pulling out, the stocks are in trouble what's the takeaway of all this? thematic investing, it's fun, it's easy to understand. if you like the theme but don't have the resources to investigate individual companies, thematic investing makes a lot of sense morningstar's report is saying don't kid yourself you have not found the secret of stock market wealth. they ask, as timely as it may seem now, some of the themes are going to age very poorly for example, ask yourself, investors ask yourself, will that work from home etf still be relevant in three years time it's a very good question and good reminder about the long-term effect of owning these funds. >> very good point, bob. it seems to me, in tech at least, themes don't win. platforms and innovation do. part of the problem is as soon as some idea becomes

cathie wood, even elon musk, who, like you said, goes back and forth. to see all those three come out and really say that they are holding blind, cathie wood in particular reiterating that price target. you did see that huge plunge, still down over 9%, but we are not talking about 30% anymore. romaine: it is great that you mentioned cathie, michael saylor, elon musk, some big-name people coming in to reiterate that they are holding the line. i'm curious about some of the inflationary pressures and inflationary fear and how much that played into not only the selloff we saw in stocks, but also to a certain extent, the rebound we saw in crypto in the middle of the day. katie: if you look at some of the measures that were really spooking stocks in the last two weeks, you look at breakeven rates, you look at commodities, all those have been evening out. copper, soybeans, lumber, all down from their peaks. the fed saying they expect any burst of inflation to be transitory because, i mean, you have this unprecedented boom in demand hitting supply chains, so th

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cathy wood tells bloomberg it can still hit $500,000. and the biden administration changes tone on northstream saying stopping it is a long shot. state department also weighs sanctions on its builder. 6:00 a.m. in london. it's just gone 9:00 a.m. in the difc. so it's time to talk about talking by tapering. annmarie, thrs the minutes that we're supposed -- this is the minutes that were supposed to be a snooze fest. you weren't wrong. you were strategically misguided and didn't quite hit the nail on the head. but i would never call you wrong, the bottom line is this. it wasn't a snoozefest. the bond market reacted. and what caught my eye, annmarie, the fact that the bond market wasn't more virulent in its reaction. and i put this down to the fact that the comments not time to talk about tapering and trumped the minutes. annmarie: that's the whole thing, manus. the minutes are retrospective. these minutes that are out were before we had that dismal april jobs report where also in that april jobs report, we had a revision on the march report

cathie wood was great, by the way. don't agree with her about inflation at all. if that inflation gathers, you fall off in the equities and the bond yields rise. that is what would normally be called a negative correlation is that relationship breaks down. guy: in terms of how much trouble europe is in at that point, and some ways what i took away from these debility report today is just how fragile europe is that we've got this kind of free leveraging process that has taken place during the pandemic, that has really pushed debt levels, particularly with italy, up to 150% debt to gdp. but other countries aren't far behind. the fragility is there. if you get that scenario, does this all unwind? does the positive momentum around europe unwind? luke: it's got to be a risk. the thing i worry about, that massive debt to gdp in italy is reflected across a lot of the continent. it is hard not to increase your debt after the kind of year everybody has had. how do you get out of it? how do you respond to it, and how does europe really get what it needs to in terms of soci

old versus new we explain in a moment, and cathie woods, twitter over twitter.reakdown of arts defense of the stock this hour. julia? >> well, stocks are higher as the dow flirts with a 300-point gain nasdaq lagger to the three actually turning negative moments ago with names like skyworks, tesla, dragging down the tech sector. carl >> top of our feed today, maybe all this month, will be this epic showdown in the courtroom as "fortnight" creator epic games square the off with apple whether the app store is an abuse of monopoly power. right now apple takes about a 30% cut of all in app purchases on the app store big story on wall street, the service revenue, of course app countered this removing its immensely "fortnight" from the store. tim koch wilcook will testify as mr. sweean sweeney. >> epic ceo tim speen sweeney t the stand to explain why his video gamemaker is suing after apple kicked epic games out of the app store for trying to circumvent its feeds epic protesting the fee apple takes from its games hoping this trial could permanently change apple's model

cathie wood back in april, she predicted bitcoin would go to $500,000.er, she spoke with bloomberg again about whether he could get to that level and what is driving the wild ride. >> i think what is happening right now is because the stock market, the volatile part of the stock market, the innovation part has come to such a correction. the correlations among volatile assets are going to one right now and that's including bitcoin. >> in april you told dow jones that could go to $5,000. you still hold that target? >> we do. our crypto analyst, we go through soul-searching times like this and scrape the models and our conviction is as high. the one thing that has changed here however is the environmental concerns around bitcoin in particular have caused people like elon musk pull away and say let me make sure i understand this. we believe that even this is going to change because first of all, right now the percentage of bitcoin mind with renewables and hydroelectric power is quite substantial. in china, it is over 50% in renewables. we also believe and we

and cathie wood is joining us now. thanks so much for joining us. >> happy to be here.s touch on this sort of country pullback do you welcome that as a long term buying opportunity for a lot of the stocks love or are you feeling the heat a little bit? >> oh, i love this setup you know, the last time i was on, i think i said that this rotation was good news because it meant the bull market was broadening out, it was strengthening. and the worst thing that could have happened to us is to have the market narrowly focus on just our ilk of stock, the innovation space instead it has broadened out so year to date i think energy is up 40%, financials are up 27%. and from the peak in mid-february, our strategies are down -- well, the ones that have been hit the hardest, not all of them, are down 30% to 35%. i love that setup. from our point of view, five year time horizon, nothing has changed except the price and therefore the return which at the peak of the market and of our strategy in mid-february, we expected a compound annual rate of return of 15% on average per year from o

next then, is it cathie wood, we'll consider and the battleground stock is facebook bull and bear case for the company later this hour. carl >> jon, speaking of stocks plenty of tension. nasdaq off the most recent high. more than half of the ndx down 10% from the recent high tesla worst performer and then apple down over 20% at the dow pr briefly, jon, falling 670 points. >> carl, where we start this morning. as the tech sell-off gets even worse, guys, momentum speculative names, getting crushed today, cathie wood, ark fund, 40% off its recent high. large stocks not immune either this morning we mentioned apple, but all five of the largest names in tech down in today's session. software hit hard as the cloud ships on pace for their second straight day of major losses, and, guys, it's not just the deferralens between broader tech and the markets, but the plays within tech itself here is the year-to-date performance of ark versus the s&p 500 in the nasdaq 00, although the s&p justify turned negative for the year. guys, this graphic you're seeing on the screen now is a good illustration o

cathie wood remains unmoved. wood said she expects and i quote e llon will come back andb part of the ecosystem. today this crazy speculative track broke down but what about the second track, the same track? the people that do exhaustive homework to get an end rather than loading up on crypto currencies than a "saturday night live" episode. crypto currencies, these people bet on individual stocks because they like the fund mentals it's actually called investing today is a banner day for investing. he outlined how he's got the brands people like house brands with huge margins think of cat and jack and supply chains that other retailers and retailers envy because he was droiready f the great reopening. we got this stuff from schipt. need can give you same day schipt up creek with a paddle. oh, no anyway, finally they gave you the service people crave, okay because target pays more and has terrific loyalty and has given back more than the retailer. i call for charities like hey, do you want this stuff wrapped or not

there's speculation that ample kami cathie wood could be out completely it's not a long term i agreeed's interview it left me less than motivated to get involved. i was willing to buy the dip he also discounted the fact that trump leaving had hurt them, because they picked up so many more users, but joe hit the nail on the head. they need content there to compete with tiktok, to compete with instagram and they don't. it seems like the world is passing them by. i'm comfortable that jessie could get them there, but hasn't yet. >> they've been in the market for clubhouse, and it was like $3, $4 billion was the number thrown out there they have twitter spaces, so at least they're thinking about what the future will look like we'll continue to follow the story. what's that? okay thank you. >>> up next, the big etfs to watch. and don't business the small business playbook tomorrow you can check out the full you can check out the full lineup, and register at * and #1 for eczema symptom relief* gold bond champion your skin cnbc we're back after this. at t-mobile, we're committed to serving t

what's hit hard is the thematic tech stuff clean energy is killed in the months arng, all the cathie wood stuff. lithium battery and electric vehicles this is the stuff often marginal and doesn't make money and since foeb there's concerns about profitability and that's where all the stuff really started to have trouble i would say especially solar stock. talked about this in the last hour here. all these stocks that you are looking at today at new lows for the year right now and remember they also topped out in february when the rates went up. profitability is a concern guys, i would say it's not so much that tech is resetting. it is that people still seem very interested in high quality tech and for the most part that is the mega cap names. apple's 25 times forward earnings going down actually the multiple on apple because the earnings have been so strong you want tech quality with sherwin-williams and the reopening plays on top of that. >> that's a great place to leave it there with you digging into the themes and while tech has come under pressure the next guest said he's focused

it's kind of the view that cathie wood has, i want you to listen to what she said on friday afternoon's "closing bell." she's not worried for many of the same reasons that jenny pointed out. >> i love this setup the last time i was on, i think i said that this rotation was good news, because it meant the bull market was broadening out, it was strengthening the worst thing that could have happened to us is have the market narrowly focus on just our stock, the innovation space. instead it's broadened out that year to date energy is up 40%, our point of view, five-year time horizon, nothing has changed except the price >> okay. doc, what do you make of that? this is basically like chill out, everybody this market is go for the very reasons that cathie wood said. that is a better sign for the long term. >> you've heard that expressed by a number of folks on this show, scott, that, you know, be patient. i know jenny is a patient investor, joe and steve are as well but the three of us, joe, steve and i -- you are maybe more trade centered than jenny or cathie would if you're with a long-term

billionaire warren buffett and cathie wood the hot hand revealing a flurry of news- making trades but first let's get to burry's more than $530 million bet against tesla, his 13th filing with the sec shows long puts against more than 800,000 shares of the ev giant. tesla shares, bucking the bear ish bet at the moment moving higher by three-quarters of a percent but let's flip it over to the oracle of omaha whose berkshire hathaway reveals a brand new stake, a $943 million stake in insurance broker aon, at the same time, berkshire dumped its stake in chevron by 51% exited nearly all of his shares in wells fargo, which by the way, he started adding to in 1989 so that's a big deal. team buffet also sliced holdings in u.s. bancorp, merck, bristol myers, stone co, and liberty global. company exited its stakes in synchrony financial and sun core energy entirely but beyond aon buffet added to his positions in verizon, restoration hardware, and kroger finally, cathie wood shed nearly all of its $23 billion stake in apple, figuring do you know what maybe money could be put to better use there,

and i'm not in the cathie wood camp, which says if they peak now, peak soon, and inflation goes down, you can buy the high growth stocks. obviously the market isn't like that, but david, i know i'm a broken record on this and i know stan drunkenmiller is a terrific guy but i will stand by the idea if you get a couple of breaks in inflation, this is worse than the inflation of december 2015, where janet yellen raised too soon, but there are many factors and many pieces of inflation that can be considered transitory, if we can just fix some things. and they're not being fixed. >> such as >> the unemploymentbenefits. the no tariff, taking down the tariff, on lumber, which is a ridiculous thing, the president could just call trudeau and say listen, we're done with that, but you can flood us with lumber >> it's sometime back that the group was put in place. >> yes we wait for the copper mines to be able to open. it is difficult to take the food complex down but we know from tyson foods their margin could go down and therefore there could be a lowering of prices at the supermarket, so even

. >>> cathy woods midas touch not so golden in 2021 until today. the top ten holdings in the ark fund higher. we have that story and more. back in two. these days you have to keep everything moving and reinvent the wheel. with a hybrid, you can do both. that's why manufacturers are going hybrid with ibm. with watson on a hybrid cloud factories can use ai to automate the little things so they can focus on the next big thing. businesses that want to innovate at scale are going with a smarter hybrid cloud using the technology and expertise of ibm. municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of

next then, is it cathie wd,

cathy houk. >> yes, cathy houk for infrastructure. we did not include ranch fence as part of the goals. cmd set goals at 9%. ranch fence became l.b.e. certified and c and d in the report said because we did certify them, technically the prime contractor exceeded 9% goal. they met the goal with just the one firm at 9%. they were only required to meet 9%. >> any further comments or questions? thank you. if there is no conversation, then may we have a motion and second to approve this item? >> so moved. >> second. >> thank you. moved and seconded. roll call vote, please. >> president maxwell. >> aye. >> vice president moran. >> aye. >> commissioner paulson. >> aye. >> commissioner harrington. >> aye. >> commissioner ajami. >> aye. >> you have five ayes. >> item is approved. next item. 8b accept work p for contract number wd2621r. no change in the contract amount. authorize final payment to the contractor. i will call for public comment on this item. 8b. members of the public who wish to make two minutes of public comment on wd2621r dial

cathie's defense trying your portfolio daily, weekly, it is really difficult. jonathan: jobless claims 450. tom: i am glad that lisa brought it up because i am forgot -- i forgot it was claims thursday. an elegant chart. it will be amazing to see if that trend continues. jonathan: let's bring in russ koesterich. are we talking about talking about it and should we be talking about it this morning? how significant is this? russ: we will be talking about it one way or the other. i think this is important. the that is likely to start to shift the policy stance in the coming months. it is not unrealistic to think you would be good tapering in q4 bank. having said that, despite the heat being spilled a couple of points, long-term yields have remained remarkably contain. we have never taken out the high from back in february/march. bond market volatility is down significantly from where it was back in february and march. despite the biggest inflation printing for years. this is a big deal. the wheels are not coming off the vehicle yet. that is important to realize we

anna: that was ark invest ceo cathie wood.et the first word news right now. >> there are reports that israel and hamas are nearing a cease fire. fighting could stop within two days. the wall street journal says potentially tomorrow. it comes amid pressure from the u.s. to de-escalate the conflict. 219 palestinians have died. boris johnson says he is confident vaccines are working against all coronavirus variants raising hope the last lockdown will be lifted as planned. the spread of mutations of the virus had some spots concerned the government would be forced to delay plans. a commission to investigate january 6. the plan calls for an independent report by the end of the year. global news -- global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. anna: coming up, your stocks to watch. the u.k. regulator gives the green light to a proposed merger of version and 02 -- virgin and o2. ♪ anna: welcome back to the european market open. expecti

>> investors surprised to see john deere and cathie wood technology and robotics etf.nvesting in cutting-edge technology making farmers more efficient look at the x series combine equipped with active vision cameras and artificial intelligence to help farmer monitor condition of harvested grain. and testing use of drone to petter help farmer identify weeds early on, spray crops from high above, versus on the ground, and the exact emerged planters one of the big challenges in planting is getting the location right. if you plant two seeds too close, they compete with one another. too deep, it doesn't grow. precision allows for higher efficiency these are a few of john deere's investments in technology but it is outspending its researchers and development. two time as year four times more than adco and more than a big competitor, and analysts are predicting all of these investments will result in major cost savings for deere the question is how much of this is already priced into the stock? it's had a really strong year. up 31% earnings out tomorrow and that will be a top

because cathie is buying it.ems strange the market is buying it as you quite correctly said doesn't like these stocks. that said, it has the wood blessing for a couple days probably goes higher buckle up, tonight's chart shows we could be in for a little trouble. the market could test new lows but that, the carnage will likely be over by july now much more "mad money" ahead. could diamonds be an investor's best friend? i'm sitting down with the ceo of significant that to find out and is it worth considering plug power? i'm talking to the ceo and all your calls, rapid fire in tonight's edition of the lightning round so stay with cramer what happens when we welcome change? we can transform our workforce overnight out of convenience, or necessity. we can explore uncharted waters, and not only make new , but get there faster, with better outcomes. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change-- meeting them where they are, and getting them where they want to be. faster. vmwa

cathy: thank you so much. today is the day we commemorate the awarding of the very first medal of honor, which was on march 25, 1863 by president lincoln. and, we now recognize all 3500 and seven recipients of the medal of honor. 19 of them were double metals, mostly from world war i. the great book of the metals from the civil war, when the medal of honor was not the only -- was the only metal we had. today, we look at commemorating all of the sacrifices made by medal of honor recipients. it is a privilege to be here. thank you, i'm looking forward to hearing from elsie and jim. -- and joan. lora: to receive the national medal of honor, one of the first things that needs to occur is you need to join the military. joan, can you tell us a little bit about your dad and explain why he joined the military back when he did? joan: well, he tried to join the military after -- can you hear me? lora: absolutely. you sound great. joan: as i said, he tried to join the military after the declaration of war. by president w

carver ceo randy carver, says you joined me with his cathie wood alternative.nks, liz. great to be here. whenever there is a gold rush you can be a miner or you can be the guy selling the picks and shovels and clearly ton of interest in crypto as recently as today. the fed is talking about a crypto dollar. we feel crypto in general still like the wild west. the ark financial fund really provides a way to get those picks and shovels to some of the exchanges in our opinion. liz: yeah. and square. shopify, zillow, paypal, all of these sort of fresh opportunities in there, they're all in the green today but you got to tell me how you see them performing post-pandemic. >> yeah that is a great question. and again, with the cryptos have been all over the place as have some of the home shopping and some of the online types of things. we think post-pandemic, entire area of digital transactions will continue to grow and again one of the best ways to play it is through some of the broader funds like ark financial and global access one as well. liz: sure. because it encomp

i'm with cathie wood all the way. charles: jeff, i am too. know since you're good friends with her, i put her on in 2016 a few times. she won't return our call. i will be nicer than the rest of wall street. because i'm certainly a fan as well. i'm a fan of yours. thank you very much. right calls, you don't have to like them. president biden says he is the for working people but why is he pushing extremely expensive electric trucks and vehicles. ford has the most expensive truck around the world, but they have a truck that is affordable. 29,000. but the electric version, 79,000. how will we fuel all these evs? ♪ some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) obsession has many names, this is ours. the lexus is. all in on the sports sedan. lease the 2021 is 300 for $369 a month for 36 months. experience amazing, at your lexus dealer. ♪ ♪ (upbeat music) lease the 2021 is 300 for $369 a month for 36 months. ♪ ♪ ♪ ♪ ♪

hottest in the world cathie wood of ark invest and that's why i call these woodstocks remember that? that was hot once, too don't get me wrong that's about as well behaved as it got it's woodstock don't get me wrong, i love every one of these companies you seen them on air how about shopify? i love shopify does anyone love twillo more than me? nobody cathie wood is fantastic at identifying stocks like twillo they're not stocks for all seasons, people. you don't just want to -- no they're not. let's stop pretending. they don't work in this environment and as i learned 40 years ago at goldman sachs, they really don't work at any inflationary environment woods knows that, too. zes she's up front about liking the names. the market is i'm pm inpatient we get retail sales that are higher it ends when inflation goes away or is tamed somehow with the exception of lumber and semis, there is no sign the commodities are cooling off any time soon. they are still going higher. i was checking the grains today. don't bother the woodstocks, okay, the wood stocks will keep heading lower punctuated by

you have the cathie wood stocks and then you have apple. very, very different so i think you want to use days like today to buy. i think everybody on the committee is right today in bits and pieces josh brown did an excellent job talking about how you really, really want to be a longer term investor and think about what you want to pay for things mr. o'leary, my friend from canada, as he knows i also cover canada i think canada is coming along with the ride on this with respect to north american stocks with brenda talking about tina, there's no alternative i think that equities in general, and especially u.s. equities are the best asset in the world. now it is a matter of what you are paying for it. we don't want to pay for the hoy- hh high-flying tech we want to play for con ssisten cash flow. technology and communication services and discretionary by far favorite names. >> you mentioned, you know, you have the tale of two markets within tech, right there's the cathie wood starks, the arkk stocks, and then there's apple. what do you make o

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 it back u.s. regulators have approved pfizer's shot for kids 12 to 15. that age group could start getting shots as soon as thursday, but the question is will the parents be getting it recent pew survey showed that less than a third of them wanted to vaccinate their kids under 18. >> novavax down

cathy says her daughter has been waiting months to take her driver's test. pre-pandemic it may have only taken a few days. >> it's frustrating. you have been studying. you want to get in there and get the test done and you just can't. >> so many of these services are caught playing catchup. it could be a while before the logjam clears. in virginia, the dmv is seeing a surge of more transactions across all service channels. they're encouraging people to use online services but it's not always possible. >> i'm here to get my license, right? but it took me about three, four months to get an appointment. >> in oregon, wait times might not clear for months. this driver says he's been trying to register and title four vehicles after moving to oregon from out of state. >> if you call the dmv they say you have to wait 17 weeks before you can actually ask questions about where your title information and stuff like that is. >> the covid-caused backups are also delaying a far weightier problem than licenses, the path to u.s. citizenship. the phone is ringing off the ho

the world famous cathy slowly and remains closed during the week. some have hopes that a new start will bring changes that he was auto is an activist with vanessia dot com. the group installed this counter in the window of a pharmacy. to help publicize the declining number of residents, 50900. 65 is the actual number of people citizen living today, here in venice, that's 30 people less than a week before that over to rhythm has been driving people out of the city. but the problem is more complicated than that. it's a very strange situation. we don't want to much tories him because it would suffocate the place. but at the same time, we can't leave without to raise him in a place where everyone lives off tourism one way or another. it is difficult to find the balance. the cities tourism counsellor says that the situation is not unique to venice, but rather venice is in need of a unique solution. right? yeah, no, no, i start having go on it and then it has not been sold out in a derogatory sense. all 2 cities have experienced the last few years in the

this is the spanish style of industrial cathy forming. on closer inspection of some of the farms we see that some of the animals came from the u.k. . let me tell you. there are also calves from france and slovakia. we're not far from the seaport town or going up and find that's where most of the calves are exported from. on the way to the port we see animal transporters on the return journey. the transports unload on the pier. electric prods are used to drive a young bolt onto the ship. this load is mostly made up of animals from france for destined for lebanon. one man stands out among the workers at the port you want to start an animal exporter are our heroes from morocco. as we establish later he's bought the animals for an arab company. but if he's prepared to talk to us so we arranged to meet with him a few days later. what's your job. most contiguous and explore i work as an export earnings of companies here in spain and organize transport to arab countries. or societies i drive around and pick out the animals i am i make a selectio

i'm not short cathie woods cathie is brilliant but she has put together a basket of stocks i think is still very vulnerable at between 50 and 100 times revenue. they're not going higher, they're going lower. >> don't we get credit for earnings the whole point was multiple expansion and not paying attention to earnings because we knew we were in the depths of the worst economic situation of our lifetime, and we knew it was going to get better and earnings have been fabulous so why aren't we giving earnings the credit that they deserve the market had already anticipated all of that. >> they have you know, i agree with you and i own stocks, qorvo and skyworks where they cut back, blew out numbers. i think like you they should get credit for it. they should be higher, but guess what i can't let my ego and what i think control what the market is doing. i have to be able to assess where i'm right and where i'm wrong. right now the market is not giving credit. unity software which i'm short a little and some puts on, that stock had good earnings. it is down today the market doesn't care. it

so there is still people still have to be cautious. funny in vienna we're arguably cathy culture was invented. do people share the same concerns as the ones that we heard from lisa in paris? they are concerns, if you speak to biologist, if you say that even though right now, the infection rates are comparatively low compared to with france for example. the risk is having opened up everything at once here. it's not just about restaurants, but it's also about reopening hotels, public venues. everything starts today. and then of course, foreigners, for most european countries can enter all 3 and also from some non european countries without the need to warranty. and so the question is, of course, whether these infection rates are going to stay stable as they are right now, or whether they're going to increase as so many things to reopen at the very same time. and of course, what we do not know that those few cases of the indian vary and that is also here in austria, that a few cases is going to increase to so many, many cases as we have seen early this year with the self african very, a

the dollar value you have to see to believe >>> will bitcoin woes bleed into the stock market >>> cathie wood making the case that value has overtaken growth and the trade of choice for many. >>> a small step from branson. virgin with the first space flight in years as he looks to take on elon musk in the billionaire space raise. >>> history in south carolina and pga and phil mickelson age ain't nothing but a number so tee it up this is "worldwide exchange. ♪ >>> good morning, good afternoon, good evening. welcome from wherever in the world you may be watching. happy monday i'm brian sullivan thank you for joining us there is a lot to do on this monday let's get to it. crypto collapse over the weekend is the market story. let's begin with that. we are seeing a pretty decent move off the weekend lows. remember, crypto, unlike stocks, doesn't take the weekend off we are seeing a move higher right now off the low. that is key. off the low. bitcoin is $36,500 up 10% from the low. it was below $32,000 at one point yesterday. ripple, ethereum and litecoin. ethereum is at $2,280. ethereum was o

cathie wood holds in the ark fund here. you can see down more than the rest of the market today tesla. we are talking off 40%, 45% off the 52-week highs and when does the momentum traders have abandoned this come back in to play this again? it's not there right now fundamental guys were not interested in this stock another thing to keep an eye on is reopening trade in general. remember february and march? the airlines up 30% in about a month. it is not works very well today. united is up boosting capacity in july. generally positive comments and not a notable reaction in most airlines today and that's an indication that it is tougher to move the stocks forward. they had the big moves and since then a lot is essentially sideways and the same with the other sectors like the hotels and marriott, mgm resorts and the travel companies pricing markets, hard to move them forward. >> good do see you at the nyse what is it like on the floor there? >> i felt the moment was right it is like the rest of the country. slowly reopening but

popular tech names, cathie wood stuff, still down off the lows but down 1%, 2%. you see tesla, twitter, on did declines materials and commodities weak today. they didn't have big selloffs this year. but they topped out. this is that peak everything story that i think is going to become more important. and in terms of where we are for the markets right now some frothiness coming out of the market thematic tech. mega cap tech 7% to 13% off the highs. reopening still strong going great but peaking. peak everything. peak earnings. peak economic data i want to see the minutes badly. emphasis on inflation continue square space went public at 48 the reference price was $50. i think this is the first company that's a direct listing that opened below the reference price. i think the market wants the fed to be more proactive to start communication about when they start thinking about thinking about. eager to hear what the minutes have to say. >> aren't we all thank you very much. >>> let's get to rick santelli for the first headlines from the minutes? rick >> i'll translat

. >>> ark investors and cathie wood losing gains? >>> and now michael burry has a target in his sights we will tell you who on this busy tuesday, may 18th this is "worldwide exchange. ♪ >>> good morning, good afternoon or good evening. welcome from wherever in the world you are watching i'm brian sullivan thank you for joining us on this busy tuesday let's get to the markets and your money futureses are higher across the board. nasdaq is looking particularly strong nasdaq futures up 100. nasdaq futures up more than no, ma'am nominally. teq tech is going to be something to watch. from a data perspective, not a lot. two building and housing points today. building permits and housing starts after that blowout housing number yesterday all if n all, a mellow market monday half up and half down. #math. the big moves were in crypto many got slammed bitcoin was nearly $65,000 about a month ago. it is higher ow, b below $45,000. fell off $20,000 in bitcoin in the last month or so i think scott's call about two months on this very program abou

thank you very much, i next question from cathy newman at channel 4. ,, . ., , next question from cathy side by side| spoke about standing side by side with other nations in the world, but tonight— with other nations in the world, but tonight we — with other nations in the world, but tonight we are reporting on the treasury's _ tonight we are reporting on the treasury's insistence that any covid related _ treasury's insistence that any covid related help that your department -ives related help that your department gives to _ related help that your department gives to countries like india has to come _ gives to countries like india has to come out — gives to countries like india has to come out of— gives to countries like india has to come out of the uk government was my overatt— come out of the uk government was my overall international aid budget. would _ overall international aid budget. would you like the chancellor to reconsider that? gf would you like the chancellor to reconsider that?— would you like the chancellor to reconsider that? of course we are helinu reconsider that? of co

. >> we're joined now by cathy park who is live for us along with dr. natalie azar. cathy, let me start with you there. it is the biggest school district in the country, right? we start to get more and more states returning to normal. you see the crowds, you see the energy, people are taking off their masks, dining indoors and outdoors. however, the vaccination rate is here in the center this morning. it is just one of ten mass vaccination sites throughout the state participating in this back to scratch program. it is essentially just what it sounds like. you get a vaccination and you get a scratch off ticket and it costs nothing. once you get the vaccine you get the $20 ticket and once you scratch it off you have the opportunity to get a chance to win $20 or up to $5 million. this is just a waiting area. when you come in to the center you register, you get the shot, and people are waiting here behind me to see if they have any side effects from the vaccine. this is where you pick up that scratch off ticket. the odds are pretty good. we're told one in nine will get s

alix: you also mentioned cathie wood. your take on what your clients are talking about in terms of coin, crypto. it is likely volatility makes it sexy, but also might make it more difficult as an asset class. what are you guys telling your clients? mary: a healthy, vibrant market that has lots of extra liquidity can provide bubbles that happen from time to time, so the most important job that we all have as advisors to clients, and you all as you help to bring people on screen to talk about these things, it is to make sure that no one is ever over their skis in any one particular area. you know the old saying that diversification is the answer to every question, it still is today. so there are lots of things that could become new asset classes overtime, or could not. as long as they are done in the right buy size, it makes for very well balanced portfolios. it is the people that get way too in love with any one idea, they can't see through the eyes of what they've got. that's the most important thing that we advise client

. ♪ ♪ guy: cathie wood's flagship arc fund under pressure. seeing six straight days of outflows. what's going on? let's find out. bloomberg's wilson is here. dave: what we are seeing is the relationship between this etf and the shares of money-losing technology companies. it was something pointed out on twitter yesterday, and the chart you see there basically re-creates what he posted. looking at that relationship, it is not just that you have to two lines moving together. if you run a statistical analysis, you find out that basically, arc innovation and this goldman sachs nonprofitable technology index have been moving in lockstep for the past two and a half years. it is about as close as you get in terms of correlation on a 30 day basis. that's what i was able to find on the terminal. it really shows you the extent to which cathie wood's flagship fund is tied into these unprofitable companies. if you look at her biggest holdings, teladoc health is losing money. roku, they made money in the third and fourth quarters of last year, but they ha

why ark's cathie wood is blaming elon musk and esg investors for the recent decline carl >> certainly no declines in some of these meme names, jim, which i know you've been vocal about on twitter it's not just gamestop and amc, beyond meat is now being thrown in the mix how does this color the overall market >> look, i think that the meme stocks have to broaden out i think one of the things that has hurt the theme of the meme is that they just play with two stocks, they go after gamestop, and we're waiting obviously for the savior, ryan cohen, he has been a bit of a goodow character, and amc, adam aron could take advantage of it and do a $2 billion convert, we be a fool not to and raise $2 billion and get rid of high cost debt. so there's a solution there. and beyond meat's got a huge deal, with mcdonald's and kfc. kfc china david is going to be gigantic for ethan brown so those who are criticizing me for this, do not understand that this service, the cafeterias, have been closed, and i think that stock is ready to roll. >> i know, but you're talking about that one based on your actua

a, 60% off you take a look at the popular tech names the cathie woods' names, etsy, pay pal, they makeey but ne trade at 50 to 60 times forward earnings that's a lot twitter probably will make a small amount of money this year. it is probably trading at 70 times forward numbers. you get the point. pricing starts to matter when interest rates start to go up. high multiples start to matter and as inflation worries, as carl pointed out, listen to carl, commodities have topped out. they topped out several days ago and so are the commodity stocks topping up they had enormous run-ups. no 50% off with these guys freeport, nucor, apache, that's what i'm talking about, the peak reopening store is coming forward with the big names in the materials sector pay attention to that. as for the markets, i'm saying squeezing out, 40% off the highs in thematic tech mega cap, 13% off. and the reopening, still strong but peaking. that's the story right there still strong to peaking and the fed says we're more concerne about employment over inflation. we will see if that changes but that's the primary parad