we are talking about cathie wood and aslan and now we are talking about cryptocurrency and the equitiesssociated with them. caroline: ed ludlow, thank you. let's talk about another person who has been loving crypto for a while after it close lower than its closing price on wednesday, but still a blockbuster direct listing and received a mixed reaction from investors including arc investor kathy cathie wood. >> cryptocurrencies are vehicles for speculation. nobody is using them for payments like the dollar. they are using them to speculate, like gold. >> expect tremendous fallibility -- volatility. this is going to be unstable in terms of investors and analysts's understanding what coin-based actually is. >> i believe most of the people deeply invested in this company and this economy, this new crypto economy, our long-term thinkers about what is going to be possible. witness going to be a really interesting one for decades to come. >> this is a very successful direct listing. a lot of investor through the as a -- a lot of investor enthusiasm, watershed day for crypto and coinbase in gen

auto industry for the first time in 100 years. >> wow so given that, what's next in the mind of cathie woodnext because -- >> i mean other sectors. other big stuff. >> other sectors yes. well, we're very excited about digital wallets. so square's cash app and paypal's venmo are leading the way here in china it was we chat pay and ali pay. we really think that these digital wallets and two-sided marketplaces, merchants and consumers on both of them are going to usurp a lot of the role the banks play going mobile a little bank branch in your fil services available through them including loans, pocket or your pocketbook and we're going to do -- we're going to have all kinds of financial services available through them including loans, debit cards, stock buying, bitcoin buying so we think that's a huge, huge trend out there. we also think genomics in the health care space. we for the first time thanks to dna sequencing, again, costs have come down low enough, dna sequencing is going to introduce science into health care decision making for the first timeat until we can honestly say that until n

but every once in a while a story from their world really catches our eyes like cathie wood she's thekely know who she is if you aren't, you should. because she's a disrupter. cathie sees the future and she focuses on company and tech that she believes will transform our world. for example, she bet heavily on tesla years ago and that worked out very well. the stock is up 450% over the past year. her investment strategy and leadership led ark to post 170% return last year some of the best numbers in all of money management, an industry still dominated by men cathie wood is our guest now thank you so much. i'm happy to meet you. >> happy to meet you. >> you know my unbusiness educated self would say you seem to bet on companies, not so much per se as you bet on the world changing do you ever worry you're too early or too optimistic? >> well, actually, the way we run our research, and research is the key to our success, we focus on -- it's called wright's law. it's a relative of moore's law in the semiconductor industry just giving us a sense of how quickly costs are going to decline and

cathie wood is in both spaces.nbase is more equity, but i see a lot of the equity money is now going towards bitcoin, and bitcoin is becoming potentially the risk off asset because funds are flowing towards bitcoin. generally, very much from gold. the rest of the space looks as a bond portfolio. it is a compliment. it is a question of where the next levels are in what my trip it up. -- might trip it up. taylor: i want to push back on that. mike: here is one of the most significant things that happens in markets. observing human nature. classic human nature that you have been investing in gold or assets for who knows how long, that what i see shifting this year, if you do not put maybe 100 units into bitcoin, you are at greater risk of looking like a fool 10 years from now, versus 1% or 2%, not a big deal. everybody is having those discussions. it is just a question of getting into the space. that is where i secret -- where i see a trickle up bid. it's not having those sharp corrections or sharp rallies. maybe we ar

to finish on that -- cathie wood , we were talking about cryptocurrency.have bought millions of dollars worth of coin-based stocks. it is an interesting bet. we are talking about cathie wood when it comes to digital assets, cryptocurrencies, and the equities associated with them. some pretty good lines to talk about. caroline: ed ludlow, thank you. cathie been loving all things crypto for a while. let's talk about another person who has been loving crypto for a while. after it close lower than its closing price on wednesday, but it still was a blockbuster direct listing, receiving mixed reactions from policy makers and investors, including arc investor cathie wood. here's what they had to say. >> what people call cryptocurrencies, they are really vehicles for speculation. nobody is using them for payments, for example, like the dollar. they are using them to speculate, like gold. >> expect tremendous fallibility -- volatility. this is going to be unstable in terms of investors and analysts understanding what coin-based actually is. >> i believe most of the

. >>> the new stock that cathie wood is buying up. >>> and it was streaming night at the oscars. oscars were last night we will show you the big winners coming up. ♪ just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪ ♪ >>> welcome back good morning it is time for the daily vaccination covid update another big weekend. over 290 million doses of the vaccine have been delivered in america. 229 million administered almost 95 million of us fully vaccinated that is 37% of the adult population and almost all of the at-risk population over 53% of us received at least one dose that number is important data out of the cdc says americans, 8% of americans, received one dose of pfizer or moderna missed their shots the cdc says the use of the j&j sack vaccine, single dose shot, will resume in the united states.

could tax increases have on corporate spendingsome we'll talk to the ceo about trimble about that cathy wood is snapping up shares. >>> and why is the jobs market so tight right now we have heard lots of companies saying they're struggling to find workers where's the disconnect we'll explore that as "power lunch" starts right now. >>> welcome to "power lunch. i'm morgan check the markets at this hour the s&p 500 did hit another record high today but the real action is in the nasdaq. new highs once again for some of the big tech names payment stocks also higher whether with an app or paypal, squar, mastercard and visa president biden continues to aggressively push the massive infrastructure plan saying yesterday the country must take bold action. all right. we wanted to break it down from two key angles kayla tausche working out how to pay for it and steve liesman answering will it help or hurt the economy? let's start with kayla >> morgan, treasury says it will fully fund the plan by raising $2.5 trillion in revenue over 15 years primarily by raising the corporate tax rate and a minimum tax

jonathan: that was cathie wood, ark investment founder, ceo, and cio.s look like this on the s&p 500, up 0.5%. we advance in the equity market in america. retail sales at 8:30 eastern. going into that, yields down two basis points. 1.6130% on the u.s. 10 year. sonali basak standing by on earnings coming out of citi. our team here at bloomberg were leading with the news this morning that the biden adminstration is poised to impose a new raft of sanctions on russia, including some sanctions potentially around buying new sovereign debt. here's a quote from reuters this morning. officials who spoke on condition of anonymity said biden would bar u.s. institutions from taking part in the primary market for ruble denominated russian sovereign bonds from june 14. i stress the issue here, ruble denominated russian sovereign bonds, because they have been barred for taking part in non-ruble denominated russian sovereign bonds since 2014. i have already caught up with dan tannenbaum, sanctions expert, who said this would make a difference, in the same way that some

i'm carl quintanilla day two public company, cathie wood buys in stocks higher. not just coin, though. another massive ipo at the nasdaq a $30 billion video game company backed by kkr making its debut and bezos addresses his shareholders in what could become a significant change in amazon strategy. we dig in on that. >> also a big day for tech stocks nasdaq outperforming broader indices pss&p all-time high and nvidia and others, faang plus index up better than 1%. tesla in the red and gamestop down 6%, jon >> today's most important tech story, day two for coinbase. watching crypto's newest king. the company opening for trade yesterday afternoon. $381 a share 52% above the reference price rising as high as $429 before settling the day lower as of yesterday's close, $86 billion, roughly, market cap made from the most valuable publicly traded exchange in the u.s. if you think that's what it is cathie wood jumping into this trade as well buying $246 million worth of shares to add to the investment funds. so many storylines in tech right now, carl, that hinge on the i

i'm carl quintanilla day two public company, cathie wood buys in stocks higher.n video game company backed by kkr making its

. >>> plus cathie wood and the art fun weighing in onhe t environmental impact of bitcoin.ntal impact of bitcoin. we will be right back. plus you'll now get netflix on us. all this for up to 50% off vs. verizon. it's all included. 2 lines of unlimited for only $70 bucks. and this r. you'll pay exactly $70 bucks total. this month and every month. only at t-mobile. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ keeping your oysters business growing visit letsmakeaplan.org to findhas you swamped.ssional. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo >>> bitcoin mining, it is often decried for its high energy use, but could it be good for the environment? cathie woods, arc invest, a long-time crypto bull on bitcoin and coinbase out with a post

it is a cathie wood 3d printing etf.o there is a degree of overlap, but nevertheless, for the trekkies out there, this i got to be a must have. alix: guy thinks that i am a trekkie, so he is teasing me. i'm like trekkie-lite. i didn't go to a conference, but i enjoy my trekkies. guy: this could be good for you. alix: if you are going to tease me, tease me over the remake of "battlestar galactica." coming up, high-yield bonds seeing a record quarter of issuance. we will break that down with mark jenkins, carlyle group head of global credit, coming up. this is bloomberg. ♪ guy: live from london, i'm guy johnson. alix steel is over in new york. this is "bloomberg markets." deutsche bank unloading around $4 billion worth of holdings in a private deal on friday, and it did it fast. that was just in time to avoid the losses that may cost some rivals billions of dollars. for more insight, let's bring in bloomberg senior banking reporter sri natarajan. this was all about speed, wasn't it? it didn't end well, and it was about eve

he's a great guy four and cathie wood, no.he is about to say that cathie wood mayhave no clothes, i mean emperor. i mean how do you put that, david? >> i will be watching to hear about the emperor with no clothes this morning >> clothes from ross dress for less how about that >> i think there's a lot of emperors with no clothes when it is all over but it may take a while. >> gamestop, sherm en is out. >> yes >> maybe your big opportunity is coming maybe you can transform the company the way you want it. >> the one issue, the sheet i get called wall street bets, i think, they want to put a man on mars, with gamestop, with -- >> opportunity everywhere. >> you nonfungible token you >> we're going to be selling our nonfungible tokens sooner or later. top stops to watch as we head to the opening bell plus this soccer story is outrageous, what is going on in europe and jp morgan is in the center of it, and plus gamestop spiking this morning after the ntepngowment about the curre cestpi dn. back after this. incomparable design makes

cathie wood, ark investment loading up on coinbase shares. and broader interest when it comes to bitcoin and crypto. analyst this is morning already getting bullish. moffitt calling it a 600-dollar stock. davidson, btig, slapping 650, 500-dollar calls in the stock. a lot more calls to come in their view. ceo founder brian armstrong celebrating the watershed moment, a long thoughtful tweet thread saying how bad an idea everybody thought coinbase was. his friend in tech didn't get it. thought it was a scam. i had a lot of self-doubt personally. thought maybe i was crazy being so interested in it. after day one, one of the richest people in the planet. worth over $17 billion. not bad for a man that had to fight the naysayers. stuart: good luck to the guy. he did this. he has run that company. did a great job, 17 billion. susan: nine years. stuart: last hour. let's see what bernie sanders has to say about that. i don't think he would approve but there you go. susan, thanks very much indeed. here you go, three cheers for walmart. the ceo says they

meantime, investors are showing their loyalty to the famed ark investment manager cathie wood, adding billion dollars in a single day this week. her ark innovation etf took in a record $717 million on tuesday. meantime, the other took in another billion dollars on its first day of trading. coming up, ibm ceo arvind krishna took over when the world was in turmoil amidst pandemic lockdowns. i speak with him next about the company's next chapter and when quantum computing will truly transform the industry. this is bloomberg. ♪ ♪ emily: as vaccines are administered around the world and pandemic restrictions loosen, companies are trying to chart a path forward. ibm's ceo, arvind krishna, says that he expects 80% of their employees worldwide will go back to work in a hybrid model. i asked arvind what the next chapter of ibm looks like and how the global chip shortage is impacting their work. we started with ibm shares and whether that will be a measure of his success. arvind: investors only have the one measure, which is the stock price, and that is a definite part of the company's report c

cathie wood sold off about 900 thousand shares.his comes off the back of richard branson selling 113 million. a lot of investors really strike -- really scratching their heads and wondering why the big players seem to be taking their profits off the table. tom: is there a normal soiree, or some thing different this time? romaine: this is basically going to be a minor update. they do not seem to think this will move the needle here. some of the suppliers might move. keep an eye on corning. gl w could move. tom: thank you so much. what we try to do here is pay homage to the early morning of the united states of america, so we digress. james o'sullivan, td securities chief u.s. macro strategist, because he's from the other side of the atlantic, along with jonathan ferro. the mail is coming in about orange squash. i've got british people telling me about orange squash. it is no competition, far superior to tang. jonathan: it is a very concentrated syrup which you dilute with water, and you have a nice orange squash. it is made by many

cathie wood did pick up another 300,000 plus shares in the overnight hours.ly some people still doubling down on the longer-term growth story. and interesting story last night, the nfl creating three new partnerships with sports betting companies. draftkings, caesar's, and flutters. they have really cap danced around the idea of just how much sports betting actually played into what was going on in the company. you see draftkings get a bit here. jonathan: great work as always. looking forward to the close a little bit later on bloomberg television. can i call it weekend yet? lisa: nope, not yet. jonathan: but that does wrap up the expected news so far. lisa: we've got more. jonathan: what have we got? lisa: we've got economic data, we've got building permits. that's been the hottest housing market since 2007. but also we have some interesting conversations throughout the day as we try to reset. jonathan: you keep selling the show, lisa. lisa: i've got to say, the rates move was really interesting this week. jonathan: i agree. lisa: you did say that. i think t

investors are showing their loyalty to famed ark investment founder cathie wood. etf took in a record $717 million on tuesday. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> this american jobs plan is replete with many more tax credits and incentives for r&d and innovation that dig a lot deeper than that. there is the ones in the manufacturing space, but there's the clean energy space. when you get to electric vehicles, we do a deep dive into incentivizing the production of not just electric vehicles, but charging stations and batteries here in this country. so this is the largest play i have seen in my economic career to on short industries -- to onshore industries and build in areas where we can beat our competitors. jonathan: two administrations, two presidents, and yet you hear the same word, onshoring. alongside tom keene and lisa abramowicz, i'm jonathan ferro. let's touch on the price action as we count you down to initial

lithium batteries, 3d printing, i call it the speculative part of the market and cathy wood representing that the big portfolio is hit hard and not still recovered from the big run-up in january and february and the big move down since then what does it mean here two things that they have in common the first is they had a speculative frenzy in january and february all of these sectors moved to the upside and then middle of february all started to drop what happened then interest rates starts to move up aggressively i think that's the main problem here speculative fever in january and february pushed the stocks to new highs and then the concerns of higher rates pushed them down and trying to play a catch up since then back to you. >> thank you. >>> and also a weigh-in on cnbc. >> we will at some point here see some moderation if not some decline in equity prices i think over the coming months that would reinforce a desire to do portfolio reallocation towards fixed income my next guest says don't take the foot off the pedal just yet brian, good to see you so explain the bullish not to have

and cathie woods' arc innovation etf now down three sessions in a row.ues to add to her position in coinbase that stock is still down from its all-time high, hit all the way back to its debut day which was a couple days ago. still, something to watch. all right, now, back to some of this morning's top other stories. bertha coombs back now with those. bertha, what is on the menu this morning? >> brian, chinese president xi jinping will give a speech tomorrow via video conference at a global leaders climate summit organized by president biden this according to chinese state media, many are expecting the leaders of the world's two largest economies and the world's largest flopolluters to have their first meeting on the sidelines. >>> and leon cooperman is declining elizabeth warren invitation to testify in congress next week calling it, quote, self-serving and disingenuous in response to our own scott wapner, cooperman says, quote, as has been the case as we first locked horns on this matter after her presidential bid she is looking to grandstand out my exp

. >>> calling it new star wars versus muppets breaking that down >>> want to know cathie woods underck picks. subscribe today. >>> back in a moment ceo of adobe is right after this break. in the romo household we take things to the max oh yeah! honey, you still in bed? yep! bye! that's why we love skechers max cushioning footwear. they've maxed out the cushion for extreme comfort. it's like walking on clouds! big, comfy ones! oh yeah! did you know that petco, is now a health and wellness company? their groomers work wonders for my confidence. i trust their vets, and i'm known to have trust issues. they deliver high quality food the same day. i was outside digging, what'd i miss? just everything regarding our physical, social, and mental health. exciting. i'm gonna take a spin around the room. great idea. ♪ ♪ petco. the health and wellness company. keeping your oysters business growing has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar cr

as for cathie wood, her arc fund, she is all in on coinbase. very much growth and momentum. coinbase is number 44, so perhaps it will creep its way up, but out of 55 holdings two days in, that is really pretty impressive. finally, if we take a look at the cryptos themselves, bitcoin up 0.9%, ethereum 3.9%, and a nice turnaround for some of the digitally related stocks. again, the question with the huge moves in the space this year, are we going to see some sort of sell the news action? we do still have green on the screen. alix: really appreciate that. some breaking news for you as well. the u.s. saying russia did not respond to an invite for a president biden and president putin summit. they are still trying to avoid a cycle of escalation with russia. u.s. also saying that they have some more sanction authority that does remain to be used, according to u.s. officials speaking to reporters about these russian sanctions. they don't want to escalate, but they do have more firepower to use, and they did not get any response from putin for a summit. we will update you throughout

street bet, it really just decided that they were going to focus on amc, gamestop, and palantir, and cathie woodnd, etf manager, not that good performance, and then a lot of them got caught up in what i say is the high flyers, and snowflake as an example, they just kind of have gotten into these stocks and didn't know what they really own now, all of what i just said is going to cause tremendous aprobrium against me and the younger investor once again kind of didn't go in the right place, and there is a lot of margin money involved that is not good and given the fact that the stocks went down a two-tone market here, i know we call it value and growth, i think that is absolutely growth. what we had is secular growth and that has been hurt and that's cyclical growth and that's soaring, and honeywell, comments from last week, david, i have rarely heard an analyst praise a stock, praise a company, so much, cyclical, going to secular gain from the industrials and a lot of the younger people, david, got caught up in the secular gainers that frankly are, you know, they got expensive. but they like pric

drive, software services, services which will drive margins for years to come and energy, which cathy woods the best investment with a five-year time horizon? >> the only reason tesla's not going up is because tesla is up so much. i agree with you and i think one of the reasons the growth stock stopped going up is because tesla stopped going up but it's a reason to own it we're finally getting a cheaper than 900, so i'm fine with tesla. larry in florida >> caller: hi, jim thank you very much for taking my call. >> quite welcome. >> caller: i've been listening to you for 15 years, great show. i just signed up for action plus >> fantastic thank you. >> caller: great, great information. >> thank you. >> caller: jim, i have to say one thing. when you're on vacation, or you got ill like two weeks back, it seems like the financial markets stop for me. please stay safe >> i'm trying. >> caller: okay. >> i had some big back surgery, it really set me back but i'm doing my best with the pt. >> caller: there's only room in your portfolio for a speck stock. i bought one i thought i did my homework. but

but our yesterday's video on cathie wood and her arc investments buying went viral with 1.2 million views yesterday and counting. we now have more than 106,000 followers. i post every morning, it's just a one minute sort of what did you miss overnight. follow me on tiktok @redfoxliz; but we were amazed, again, 1.2 million views on a single, single tiktok because people want to know. they want to know, you know, the quick news overnight. make sure to check it out. >>> sherwin williams painting itself green today, one of the top performers on the s&p 500 benefiting from the halo effect of renewed confidence in the home building sector. shire wynn williams jumping 4.5%. citigroup also raising its price target on the paint maker to $298. so you can see got a bit of a ways to go. and as vaccines bring people back to sort of real life before the a pandemic, will the door close on the pandemic diy boom? coming up, the man behind handy and the entire angie empire pulls the curtain back on what's really happening in housing and if you should still be putting the welcome mat out for your home-relat

despite the sell-off, one big bull keeps buying, cathie wood, ark invest chief sweeping up shares costinuit trim tesla keep an eye on that. >> and net earnings from netflix, snap and ibm and annal and facebook holding events. apple, a huge few weeks. a products event, more on the trial lawsuits with epic games and planned privacy changes, which created a huge rift with facebook our julia boorstin taking up that story what's the latest here >> deirdre, expecting apple's new operating system could roll out, could launch any day now, and it is at the center of its battle with facebook about consumer data. the question is how much consumers are tracked and targeted with ads based and that data take a look. apple ready to roll out its operating system ios 14 and prompting users to opt in or out of having their activity tracked. this is part of apple' commitment to protect users privacy. facebook's pushing back. it relies on that data ta target consumers with relative ads. people do opt out, what facebook says could happen. a man looking for sneakers on this phone with apple's new rules won

cathie woods' around invest has added again, she scooped up another 153,000 shares of coinbase bringing the total to more than 1.4 million shares. bitcoin's about $9,000 off its recent high. larry, what are you reading in the crypto tea leaves as somebody super smart and super successful as cat health care ie -- c,athie is adding to this position. >> something smells right now, because at the end of the day if crypto's actually a current i, it should never be more volatile than what you can buy and sell with it. also volatility should not be going up with time and with the fact that price is going up. we have to remember there's 8,000 of these things. they're not backed, there's no protection. 180 of them have just -- 1800 of them have just gone away. and they're volatile. so so let's keep that in mind. you know, i can bend a fork, melt gold. bitcoin, what can you do with it? if the dollar, as long as the government has the opportunity to tax its people, the dollar's going to be worth a dollar, but bitcoin, it's not a currency in my view, and i know i'm going against the grain. felt the

i like other software companies more like microsoft but this is a stock that's a cathie woods stock.nt manager. she can take this higher, if she wants to let's go to ken in florida, ken? >> caller: hey, jimmy chill. >> yo, man. >> caller: i'm calling from sunny ft. myers. >> i love ft. myers. >> caller: all right hey. my stock i want to ask you a about, the time to buy fwbi? >> the thing sells at a low multiple i think that, look, there is a -- this is a problematic security it is all i can say if you want to own it. let's go to doug in california, doug >> caller: jim, thanks for taking my call about a few months ago, you had the ceo from sorrento on your program. after listening to him, i was impressed and he seemed impressed. since then, i bought three different positions. i've averaged myself down to $10 a share. do you believe i should sell everything -- >> no, no, don't this is what happens with a stock like this. there will be a news release and it will spike three, four points 20% short position and that will give you a chance to get out they should have done something with co

i hate to say, reminds me of the cathie wood doubters as well.favorite tech names pulled back. maybe broader than the modern tech market. do you have same conviction with mag night and others that you said would do well? >> i do. it continues to be our top pick, mgi, we're talking about especially the media space we want to be in ad-driven names because advertising is linked, directly correlated actually to nominal gdp growth and the last federal reserve estimate that u.s. gdp growth would be 6.5%, up 200 basis points versus their estimate three months ago. every forecaster for advertising keeps raising hundreds of basis points revenue from advertising. advertising has 80% margins. where i think earnings estimate revisions will be most dramatic, frequent, in the 100% ad driven media names. mag night are ad driven as many companies in our coverage. we prefer those in 2021. >> sounds great. laura, thank you very much. wish we had more time. so much more i wanted to talk about, appreciate it. >>> meanwhile, folks, president biden's two trillion doll

susan: why do we talk about cathie wood? because she returned 100% the past year.nager of the moment. she is doubling down on coinbase adding another 236,000 shares. that takes her total now to $400 million almost in coinbase. it is interesting that she believes in coinbase because it is way off. the peak on its day one was above 420? it lost $20 billion in market cap from the first day debut. she is picking up palantir, nvidia, and draftkings. by the way i will throw this in there. do you know who supermodel gisele bundchen is? stuart: i do. susan: wife of tom brady. that is how you know her. she is joining as special advisor to draftkings ceo. you might be wondering what does she add, bring to the table. corporate sense? stuart: name recognition. susan: name recognition. she knows how to expand a brand. not only a supermodel but has successful businesses in brazil as well. at some point she was making more money than tom brady, did you know that? stuart: i didn't know that. but it its working. draftkings up another 1.7%. 56 bucks a share. susan: gisele. we love g

i don't mind cathie woods says it's okay.crazy. >> right those two, you don't hear put together very often. all right, so in terms of the run that they've already had, it's not too much, in your view, jim, for across the board, because if interest rates finally start moving up a little bit, there's a lot of leverage, i guess. >> that's it so you take what bank of america earned, they earned like almost three bucks, a couple of years ago, they are going, they've added so many clients since then, and the rates are down, i just think that the idea, let's say they do 3.50, i don't know, look at the stock, you've got all of these stocks selling at much lower multiples than they should be. these are cyclical companies let's stop buying caterpillar and let's start buying bank of america. >> okay. >> too bullish too bullish? i forgot to say that jay powell will end everything and you got to sell everything because i'm not saying it. i don't think it's right he wants to put people to work so do i. so do you. >> did you get to watch bo

when we see them the spacs have hurt what i think is kind of the great growth cohort i noticed cathie wood getting a lot of money in. and if there's 500 million shares of amc and the stock is only down 50 cents, of course, not to do it all at once, carl, that is a pretty telling sign that the market's got resilience. >> yes great interview. perfect timing to have adam aron on. >>> speaking of data, we will get to pmi numbers here, let's get to rick santelli rick >> yes, this is the first of two pmis, and this is the pmi for market and the ism coming in a bit from the ism people. we have 59.1 which is like exactly what we expected and if you take the 59.0 that was the mid march read, that now becomes of course 59.1, it is the second highest post-covid number, and beginning of the year, january, we had 59.2 as i said, ism will be coming up at the top of the hour let's look at intra-day chart of 10s. you can clearly see that this morning, that the slight reversal in jobless claim, instead of moving lower, they inched up just a smidge, and the market was very cognizant of that, and do keep in

again, we know about how difficult it was the last week and a half or so, but since then, most of cathie wood'seen back up, tesla is having a good day on new orders and zoom, zillow, spotify, shopify, all of them have had a much better situation than they were two weeks ago some of these names were 20, 30, 40% off their old highs but they reasserted themselves, not in a dramatic way but certainly well above where they were for the last week and a half for the tail winds, a lot of them out there right now, important to know just in terms of the overall marks and u.s. is the vaccine leader the most important thing in the world right now, we have the great jobs report and remember the consumer confidence number, off the charts good, last week as well and rates are higher, but they're still contained and i think that's the key to why so much of the market, we're getting so much of the growth being able to tolerate the higher rates 2021 earnings, i keep saying, the numbers still keep going up. week after week. very quietly maybe not dramatically but just look at the first quarter for january 1st, we

cathie woods newly launched exchange traded fund focus on state exploration and companies involved in seen anything like this. among exchange traded funds or any investment vehicle here. let's go to the ark client portfolio manager. that is a lot of excitement around this and you got to wonder here, whether it scares you too? it is nice to know that investors are that hot on what you're hot on. man, oh, man, that's pressure. >> great to go see you, neil. well, space exploration has been around before the internet, right? and so this industry has been around for a long time. at ark we're focused on investing in disruptive technologies. we don't get caught up in the hype or promise of a technology when investing in them. we conduct original research to, not only understand the technology but also focus on some of cost to clients associated with these technologies and that helps us identify when we're hitting a tipping point in the cost structure which will release a tremendous amount of demand for that technology that becomes attractive to us. we think we've hit the tipping point when i

we're learning as well that cathie woods, she has had, you know, technology fund, coinbase is a big partth. she believes. ♪. you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. ... do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ everyone remembers the moment they heard... “you have cancer.” how their world stopped and when they found a way to face it. for some, this is where their keytruda story begins. keytruda - a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced nonsquamous, non-small cell lung cancer where keytruda is approved to be used with certain chemotherapies as your first treatment if you do not have an abnormal “egfr” or “alk” gene. keytruda helps your immune system fight cancer but can also cause your immune system to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your do

i think that coin boy, coin basn cathie wood will come in and buy it up. >> she likes to create her own markets. >> she is a big buyer of shares of companies going public. >> if it has an engine that's clean and it's autonomous, it will find itself in her portfolio. >> 331 here as you point out, certain people motivated to sell here, that have owned the stock a long time, that have the ability to do so, that's a key part, how much can you actually sell, if you are an insider. >> have you met with management? >> no. >> very impressive >> they are? >> extremely impressive. >> why >> totally rigorous about this really expect that they are in many ways the wallet and no one else really, this is the important thing, the other guys, so to speak, are not trustworthy, in coinbase's eyes, and you can tick them down and they will tell you why the outfit that you're using is not trustworthy. and they are very verified, when you use bitcoin, david, you tend to think, i don't know, jamie dimon doesn't have it in the bank, and brian is not taking it, who do i use and then suddenly, you discover that

reaction to a rise in rates in what seem to be higher inflation numbers high growth stocks as well, cathie woodss, whatever you want to call them and fairly modest reaction in the overall marks to these stocks, again, they had a nice run in the later part of this week here meantime, big start to earnings next week. on the 14th. with jpmorgan starting and these are quite strong numbers here these are big changes from january. first quarter numbers expected to be up 24% second quarter numbers up 54%. again, these numbers have been going up for the past couple of months there's a couple of big issues, including what we saw today that's going to hit. number one of course is concerns about higher rates and higher inflation. and that is already starting to come through in terms of concerns about lower margins due to higher costs. we have already seen kimberly clark and smucker's raise prices on higher costs of the food companies have already been reporting higher costs, the question of course is this transitory and finally, a great question, carl, to discuss here is, last year, we didn't get much guid

february, as interest rates started moving up, and most of them were very much associated with cathie woodsr or five funds that she's had so keep an eye on the interest rate situation they've been flattish in the last few weeks, there already has been some significant damage to the high growth sector of the marks, but overall, right in the middle, the s&p 500, record highs there. carl, back to you. >> all right, bob, thank you very much. also nasdaq, seven-week high this morning let's get to rick santelli hey, rick. >> good morning, carl. indeed, everybody's watching of course, as interest rates kind of drift a little bit here and watching the nasdaq, it doesn't seem to be having the effect i would have thought, maybe the nasdaq would have popped higher, but it did open higher look at a two-day chart of 10-year notes and what you will see is we're really falling here and yesterday's yield low, outsider time zone, before 8:30 eastern, was 1.62. so you really want to pay attention to that. because as soon as we start to trade under there, not only would of course that put us right at the best

lot of pressure it is now up 100 i don't know how you want to think about that ether off 3% and cathie wood's ark fund with $352 million if n coinbase joe, you got the robinhood news which is in the crypto land. >> no upside to calling it doggie coin. people don't understand when you are joking d d dogecoin i got that robinhood restored crypto trading after the platform suffered an outage last night. the issue among huge demand for dogecoin which traded near 30 cents. it was a fraction of a penny not long ago it started breaking higher after elon musk tweeted about it and jumped again after the ceo of conagra mentioned the cryptocurrency on the earnings call the company is incorporated dogecoin imagery in the memes for slim jim's which you give the guy a raise for thinking that up, whoever did, at conagra, or a psychological test how did you come up with the idea of using dogecoin to sell the meaty sticks a lot of different ones, andrew. some may have cheese in the middle and different flavors you know, there are all kinds of new age slim jim type stuff. jerky products and all those things. >

these typical bitcoin place, but do you know who is buying and giving a thumbs up to coinbase, cathie woodw she is the fund manager of the moment and she bought another $100 million, so that's $352 million in two days that she owns in coinbase. stuart: get back to reality and check the real stock market. kenny polcari is our guest of the moment and he joins us right now. let me deal first of all with the market, kenny. i think this is a melt up. what to say you? >> i agree with you because every day we wake up, all the indexes are marching higher, 10 year yield coming down giving more excitement. on top of that you have earnings of which we have only had say 45 or 50 s&p company so far, but 88% are beating not only the top and bottom line but the estimates by greater than 20%, which tells you a couple things here tells you either the analysts were fairly conservative or companies were cautious with information they were giving out or this recovery has caught everyone by surprise and it's gung from here so i think it is absolutely the fear of missing out that it will never come down again i

as we head to break, check out shares of coinbase cathie woods' arc yesterday.s in the first week of trading one week ago we'll be back after this zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. and that ending was so intense. i know, i didn't even see it coming. are you gonna watch? eventually! you know the drill. (humming) never fear, girl-who-has-yet-to-watch-her- friends-favorite-shows -and-films-of-the-year, it's time to celebrate the biggest week in television. now you can see these shows. and their unforgettable moments, for free. so you can finally talk about them with your friends. get ready for watchathon week, free starting april 27th. download the xfinity stream app to get ready to watch. >>> welcome back to "squawk box. this morning, apple announcing a slate ever new products yesterday. if you missed the presentation, he are the highlights. a new ipad pro that uses the company's m1 chip used

stuart: cathie wood update.llion-dollar holdings of coinbase and a big endorsement for coinbase. stuart: we are five minutes in and we are indeed retreating from last week's record high spirit taking a look now at the big winners amongst the dow jones 30, energy companies in there and so is apple by the way, apple at 134. s&p 500 winners, who are they? harley-davidson, a couple others, energy companies and diamond energy-- diamondback energy i think. nasdaq winners, netflix straight up today. that ease also on the upside nicely there. first solar, to enact percent, not been following it, what's going on? susan: for the biden green climate change stock you know the solar panel makers and getting an upgrade from cd being called a by from neutral and they say there is multiple positive catalysts with a 10 year extension as the federal solar tax credit. did you know that? stuart: no, i did not know that. susan: if you are being subsidized by the government of course you will make more money. stuart: i don't know who