mark, we talked about dogecoin, but we didn't talk about dogecoin we said good luck.ody well. be careful mark yusko, thank you. >> thank you, brian. >> take care >>> coming up, diana olick will join us and look at the booming business of homeowners caught in the growing path of flood waters on the rise. wi ehae"s ckn ba i just a moment. ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. the number one brand to support beautiful hair, glowing skin, and healthy nails. and try advanced, now with two times more biotin. sweet pillows of softness! this is soft! and try advanced, holy charmin! excuse me! roll it back everybody! charmin ultra soft is so cushiony soft, you'll want more! but it's so absorbent, you can use less. enjoy the go with charmin. >>> welcome back president biden will this week turn his attention to climate change with a summit that focuses on carbon emissions. he will touch on sectors of the economy include real estate. diana olick is joining us now how homeowners are dealing with flooding without moving to higher grou

you think has the momentum not about the dogecoin big buy.leasure to have you on have a great day thank you. >> thanks, brian. >>> take care. that does it for us on "worldwide exchange. we will see you tomorrow have a great day wherever you may be "squawk" and the gang taking it up next. dow futures down 150 see you tomorrow cisco. the bridge to possible. >>> good morning stocks set to continue yesterday's pull back. we'll show you what is moving right now. 10-year back above 1.6 that was pretty brief that we were below that level. that's part of the problem. >>> elon musk says auto pilot was not engaged in the fatal tesla crash in texas over the weekend. details ahead. >>> earnings season rolls on we hear from three dow com components and bring you the ceos of johnson & johnson and p&g. it is tuesday, april 20th, 2021. "squawk box" begins right now. >>> good morning welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkin. you will see equity futures with a pull back. dow futures are down 135 points.

sell a whole lot of stuff for dogecoin. >> that was mark cuban talking about dogecoin with ellen degeneresom elon musk, with a tweet, the doge father, all this sending dogecoin soaring today it's up more than 6,000% this year but still off its all-time highs. we should note that mark cuban said that he thinks that this is a way for people to learn about cryptocurrencies, to learn how the markets move and how to invest he says it's slightly better than a lottery ticket so now exactly pounding the table here. but at the same time, there are a lot of people who see these celebrities talking about dogecoin, jeff, and they want to buy it i mean, call it the influencer effect on investing today. but this is what is going on. >> yeah. it is. i mean, is it dogecoin, i don't even like saying it and people can't agree on how to say it so i don't know what that says for the legitimacy of it but i have heard a couple of people say this today. that it is actually interesting in that it's somewhat increases the legitimacy of other crypto assets, think of bitcoin and ethereum and it makes them seem like

the guy from conagra mentions dogecoin in connection with slim gyms dogecoin doubles and a couple of >> it's the greater pool theory. calling it a fool's game, but there's a lot of foolish investing going on, i mean, it's a risk on these days for everything, stocks, gold, bond and crypto. one of the reasons we have seen the massive influx into stocks as you said more money is coming to stocks in the last five months than the last 11 years and a lot of it has been going into crypto. i think it's a speculative company, you can say you have a right to an asset. you are talking about dogecoin, this is a crypto currency that started as a joke based on a meme. to me that says we are more likely for the eighth inning of fiscal run rather than the first or second. stuart: you run a hedge fund. you manage money for a lot of people. how do you manage money in an era where all kinds of assets are going to the moon? how do you decide which asset has real value and worth investing in? >> you have to stick to the fundamentals. more than anything your own perspective, your time horizon and if you a

dogecoin started as a joke the headline was dogecoin soaring to $8,000 on pot-futured rally. we have marijuana in there because today is 4/20. they are trying to get it to $1 because some elon musk 4/20. things are crazy that is why we should worry about this stuff don't you think, sorkin? you think about soccer i'm worried about soccer, too. this is crazy. >> i heard yesterday there was an analyst on who was talking about, not on our show, but "worldwide exchange. the analyst talked about how bitcoin is right in the market, but dogecoin is everything wrong in the market. it is being speculation and people are just rushing in and gambling on this it is hard to think that some of that frenzy isn't playing out in bitcoin as well. just confined to the dogecoin world, which started as a joke it was a nickel and now -- >> becky, i would say -- >> what if we give our "squawk" proceeds to wounded warriors i was going to put on -- or one of your things i was going to put on "squawk" coin when issued not a quote, but when issued deal we shouldn't >> buyer beware? >> exactly >> the que

joe: i thought you were going to talk about dogecoin. treasuries moved? there is also the treasury market happening, that is right. even with good momentum, we did see people buying treasury lately which we do not usually see. for years it went long and now short. a lot of weird stuff going on and something going on in positioning might explain why treasuries got this big. romaine: they were reporting on the short squeeze, -- the cayman islands. joe: let us bring in reporter kriti gupta. the real question is we have not gotten a satisfying answer. it does not make sense that -- how things start today, very strong, i would expect more and treasury. kriti: you would think so, you would think you would see a bigger reaction. the question is how much is priced in? how much sensitivity is there to a conversation we knew what eventually happened. this is where you are hearing a lot of fund managers and analysts say we are waiting for the next catalyst. we have abandoned that sensitivity to the job smart -- jobs market. in 19.4% rise in housing, that is insane.

you don't have anything like that for dogecoin.he only thing dogecoin has going for it is a marketing campaign. brands selling it on service -- on social media and celebrities talking about it. there's no real technical people working on this project, it's just marketing and that is what is dangerous. if you don't understand what it is or how it's valued or what it's worth, don't buy it. matt: let me ask you about the plunge we saw in bitcoin over the weekend. what does it mean to you? is it a buying opportunity? what caused it? is it fears about regulation? guest: that coin is often times criticized for having a volatile price. last week was an incredible week for the industry overall because of the coinbase direct listing and we saw the effect in the market where we saw a bit of a correction over the weekend and a lot of people are speculating what caused that. i think there are a number of factors behind it. one of the things important to understand about cryptocurrency markets is they traded 24/7, 365 -- they don't close and th

would you ever consider dogecoin? >> yes. i actually do own a dogecoin.t around three tenths of a cent and then i bought a bit more around like the beginning of january for one set and then continue to buy dogecoin using dollar cost averaging. stuart: it's about 40 cents right now. would you consider yourself rich? >> i think-- rich depends on the person. for me right now, i'm going to continue to do my nine to five job and also invest on the side but i would not consider myself rich as. stuart: have you made enough money to leave your nine to five job and live without a paycheck? >> i would say i'm getting close to its. stuart: new jute-- would you like to retire at your age? >> i'm not at the boy-- point where i went to retire. i want to continue to teach financial literacy to gnc, millennial's and teach them about the value of crypto currency in the potential. stuart: do you see real value in dogecoin? >> i think when dogecoin started, it was a meme currency so it started as a joke to make fun of crypto currency, but it's evolved into something so much

>> dogecoin?26. it's supposed to be at $1 by pot day, which, of course, makes sense. that ties into slim jims and snickers >> isn't dogecoin making a mockery of all of this >> you saw which companies it is worth more than. worth more than american airlines go figure. i think that is one of the comparisons. >> it was a great line i read a newsletter of a c comp competitor joe deserves credit. he said dogecoin is bitcoin without all of the virtue signaling. in terms of what it is supposed to really all mean i thought it was a pretty great line >> i don't know. i don't know what to think you have elon with dogecoin. you have that going for you. >> no, but his point is that bitcoin is trying to take over the world and it will replace money and do this and do that and da, da, da, da, da and dogecoin is what it is >> the carbon footprint. that is it with bitcoin. >> it is a different virtue signaling. >>> let's talk about the s.e.c. this morning they are now considering tough requirements disclosure req

we are going to talk dogecoin. it's on the screen, elon musk is behind the surge in dogecoin.ticipated that elon musk would say-- make some reference to dogecoin and crypto during his saturday night live appearance and he's calling himself the dogecoin father ahead of may 8, which is his debut on s&l so already rallying dogecoin prices . the price of dogecoin surged and soared 20% in the past 24 hours. 32 cents or so for dogecoin and it's not just elon musk, you also have mark cuban the owner of the dallas mavericks who was on lng generous saying dogecoin is better than a lottery ticket and they have had 6000 transactions off dogecoin, so you can see there's more adoption with companies willing to accept it and more use of it and that's key for crypto currency as you have seen with bitcoin and out dogecoin no longer a joke. stuart: okay, but am i right in saying that you can print and make as many dogecoin as people want, so if you want to billion new dogecoin tomorrow morning you can do that. susan: you can do that. bitcoin's limit at 21 million bitcoin, that's a finite numbe

tom: we will ask him about the pendulum of dogecoin. lisa: do we have another hour?n: this is bloomberg. ♪ >> i think we can have an employment and productivity boom. >> fundamentals are going to be incredibly strong over the remainder of the year. >> everything we follow suggest every bit of inflation is being passed through and then some. >> there is a worry we are getting into bubble territory, but it is so essential that we got there. >> it is really following the wrong model. >> this is bloomberg surveillance tom keene, jonathan ferro, and lisa abramovitz. tom:

some $68 billion worth of those coin -- dogecoin changed hands. while some would say it is not tied really to anything, it is up some 13,000% from a year ago back when the coin was trading for just fractions of a penny. some observers say all of this is reminiscent of the dotcom days and they wonder whether dogecoin is the pet.com of crypto. i don't know if you recall but pet.com was the quintessential worthless internet offering that crashed spectacularly. last thing, again, michael, a very early adopter of the bitcoin, digital coin space, he does not believe dogecoin has value and does not put it in the same category as bitcoin, ether, and all the other more established digital coins. shery: quite remarkable for a coin created as a joke. su keenan with the latest on this crypto craze. let's now get over to vonnie quinn. vonnie: pboc says its goal of internationalizing the yuan is not an attempt to replace the dollar but give markets another option to facilitate international trade. they also say efforts to create a digital yuan are solely for do

>> is it dogecoin?s, the stocks are acting here. ppg last night, tremendous numbers. alcoa, amazing numbers and these are traditional beginning of the reporting season cyclicals that show to me that they have pricing power and i know yesterday was a day where we saw the health care stocks go up, but i think we'll go and see some industrials up along with health care so there's a lot to like here. and if interest rates go up. >> and alcoa, amazing how far that has come. >> we used to say symbol aa, so they report first. like ak mi in the phone book or something, jim, right? acme in the phone book, or something, jim, right? >> a fantastic number. they cleaned up the balance sheet. >> excellent thanks, jim. see you in a couple of minutes. >> and tonight on "mad money," quantumscape's ceo will join jim live stay tuned you're watching "squawk box" on cnbc all the things, all around you where you learn, work, and fly we help make them healthier. we are the people of abm. for more than 100 years, we've been a

i'm not here to judge is it, dogecoin is not for me my company doesn't trade dogecoin i think, again,i don't think it is just crypto. >> and then finally, i'm worried -- the question i'm asking you is actually going to become a serious question. is there a trading strategy ahead of elon musk's guest hosting on "snl" i'm sure there's some speculation, he's going to drop a bomb if you will, or drop a name of some currency. it's going to fly to the moon and it's going to become a meme, and some people are going to try to bet that saturday night if not before on it >> i don't know if gary is an "snl" guy, but at the end of the day, we've seen a lot of interest in crypto generally what we saw the last week is a broader rotation this happened the last time coin dominance dipped below 50% was january 2015 and it lasted six months we had this massive ipo boom because people who made money on ether money in 2017 took those gains and rotated them it's like when the house givens you money, some people like to take those chips and spread them among the table, right that's what we see happening he

dogecoin jumped 400% last week.kind of got hit the last couple days and now it is back up. all of this a week after gary gensler was confirmed as our next sec chair and he has not even weighed in on cryptocurrency. >> with gensler, it's interesting because a lot of people consider him to be one of the people in tune with the market overall with cryptocurrencies. that will be one to watch from the regulatory standpoint. but to your point, dogecoin started off as a joke. >> a joke? >> yes, but the profits are massive. the massive move in cryptocurrency, it's minted a bunch of new millionaires. it started in 2013. and dogecoin is supposed to be a way to transact in a fun way that be bitcoin. it gained in popularity in no small part for tweets from ee elon musk going to the moon. and now it's bigger than $40 billion, $50 billion, bigger thang some of the biggest companies in america. and there's widespread chatter now of adoption of cryptocurrency in general but the focus has been on the big ones like crypto ethereum. b

so investors might be bearish about stocks but not bitcoin, not dogecoin, you name it, they're trading it. >> yeah. well, you're in new york city and people in new york city are more inclined to trade the stock market than people out in the hintelands. the people i talk to are scared. they're scared of the economy. they're scared of the stock market and not doing much in the equity markets. even though their pension funds are doing great, they're not committing a lot of new capital to equities,. dagen: james freeman, jump in here. james: i wonder if it's because the people have a sense there's no free lunch, they've seen all the spending, all this money he creation by the fed and they're thinking there's a reckoning. on the corporate earnings calls you're hearing about inflation. how do you think about inflation and stock returns going forward? >> yeah, i saw a comment out of paulson this morning that he says he thinks inflation could get out of control pretty quickly. i'm not sure i agree with them. there are still too many -- i won't call them deflationary forces but disinflationary

your thoughts on dogecoin, are you now a believer?> you know here's the thing, with bitcoin and even xrp there is a utility component. dogecoin was created as a joke in essence and that is not to say as an investor you can't make money. i think there is still probably money to be made. people are pay banking significant returns in the 7,000, if you were early on but the challenge it has so much in the way of risk. so if you're going to go in as an investor prepare to lose it all, watch it closely, if you get good upside, great. it is like a lottery ticket, it is different than a stock or in any respect or other form of crypto, at least the major cryptos because the utility is just not there. this is the madness of the crowd and many are making money from it. charles: i will tell you mark cuban tweeting that sales at the mavs taking it for sales. their sales are up 550% in the last month. that was april 13th. on april 16th, they had a record 24 hours in dogecoin sales. there is a website, u.s. betting.com, that says there is a 17% chan

day, a week we've kind of lost the script here and so you have people investing in anything like dogecoincoinbitcoin, spa like how many times does that brand need to fail for people to not buy the stock. i'm not doigging on them. there is a cohort of electric vehicle companies two decades behind tesla and now ford and gm and everybody catching up there, so, you know, buyer beware, do your research. if you want to play in the private market game, in over valued spacs and many of them are over valued, you better be in it for the long haul and do your research. now if you're buying netflix or buying disney and they have a quarter million people subscribing to their service, you know, you can feel more secure this is the great education that has to occur and that's part of what cnbc and, you know, these online discussions, this is why they're so important it's for us to say netflix and disney are different than fis ker and nicola it's very, very different. when a company does not have a product in market, and they become worth billions of dollars like this company, i always save this t-shirt,

not just dogecoin. michael casey of coindesk. >>> on deck, stocks continue to power higher april showers? make it rain in may. either way, dow futures are up 125 points federated hermes will layout the big tlhreat to the market that i looming t the.ouer things are good, but there is something you need to watch. we'll tell you what that is coming up. i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. >>> it is time for the thursday rbi. this one may make you a bit jealous or not apparently one wall street firm is hearing the cry of burned out workers. they are offering them a perk. not many firms would do or have the money to do. the report out from bloomberg and others that hulahan is giving workers an all expense paid trip to wherever they want. this is not all pile into a plane and go to the cancun re resort a menu of trips the staff can take beach, ski,

did you trade doge -- did you trade dogecoin with your mates? guy: no.laughter] i was about as far away from that as i could possibly have been. alix: but the point is it is not guy doing this, mike, right? these retail traders who are like, 22? mike: there's one benefit of having kids who are millennials. they are daring each other on social media. but the great word you learn when you're 12, it is just happening globally and 24/7. you couldn't be at a party or bar and trade this. there's going to be a major flush out. it's probably going to happen to doge coin, may be getting to a dollar and then back to pennies, but bitcoin is going to give rising until we get past this period of etf's, unless they fail, which is unlikely. guy: it does make you wonder how good the party is, though, if that's what you're doing. alix: if you are double dog daring, it's a good party. guy: it does make me wonder. [laughter] mike, thank you very much indeed. let's move this into equities and take a look at whether or not they are overboard as well. you pay your money, you

i suspected he might use the show to promote something called dogecoin. he is a big supporter, or he may be joking about the whole thing, and then he tweet body it. the dogefather, he writes, snl may 8. so dogecoin kind of like bitcoin but it started as a joke, people are taking it seriously and they're investing money in it and the price is going up. it looks like musk could not wait to talk about it. we'll see if or how he uses it to push it on his "saturday night live" appearance. but i will bet you a dogecoin he does. >> scott, if you can predict elon musk, i want your stock picks. >> that is pretty tough, yeah. >> thanks, scott. welcome back, too. >>> new this morning, looking to make renting a car a lot easier, so the ride share app is allowins is how it works. you can actually book a rental car from hertz, budget, and other companies and then have it delivered to your home. the rental company will even pick up the car. now it's all part of the users new app feature. it is launching in d.c. with a nationwide expansion later this year. >> i like it.

as for dogecoin it took a bigger hit down to $0.22 at last count, it was $0.42 on monday. as for inferior him, that is way down as well. down $22.40 is your if seria etherium price. the nasdaq is down 27. motel a big mover, a lot of toys during the lockdown, stock is up 6.8%. four astronauts on their way to the space station aboard a space x private enterprise rocket. that is important. now we don't have to use a russian rocket launched from dan. kazakhstan. i editorialized about the president's plan on the capital gains tax about wealthy and business owners. i don't like america having the highest capital gains tax, i don't like anyone having to gain half their game confiscated. you can make up your own mind but susan is here to break it down. >> reporter: we haven't talked about income taxes, going to 39.6% for those making $1 million almost double, have to factor in the surtax, 3.8%, that pushes the capital gains tax rates up to over 43.4% which is higher than the current top income tax rate, olympia, california and new york with capital gains rates of 56.7%, you have t

charles: let me ask you if dogecoin will be one of those? >> listen, dogecoin is a joke.is always its charm. there is a reason the crypto community had a love affair with the coin the last eight years. that said, unlike bitcoin the supply is infinite. has no real use. largely pushed to these ad stownding prices by retail speculation and fomo, fear of missing out. an asset rising with no fundamental reason. the story inevitably ends the same with the retail investors holding the bag. trading doge is more akin to gambling than investing but that is fine if you understand the risks. charles: tell us about the down fusion in the space. who how do you really go at this market? >> totally for dealers, totally anonymous, weaponized by china, destroying environment. we can go down the list for hours honestly never fully answer the question. new entrants in the space focus on bitcoin or etheorum. bitcoin digital gold. ethereum the internet of the future. we can go endless coins, endless use cases misconception and confusion. charles: i have less than a minute to go. i saw talib, t

that one has sky rocketed up 350% over of the last seven days dogecoin started as a joke based on a dog meme in 2013. it is the most popular cryptocurrency with the market cap of $43 billion celebrities like elon musk fuelling the boom with his tweets >>> the uk chancellor sunak said a new task force is created to launch a digital currency backed by the bank of england that would be a digital currency i put up a tweet if you want more into that topic >>> elsewhere, vice governor says china may include more cities in the yuan experiments it did not set up a specific timetable. let's go out to see more on this story in china we have talked about this in china. china is the first to experiment with the yuan. they are more ambitious with the rollout. what more can you tell us? >> reporter: julianna, i was talking to the governor of the pboc we discussed the digital project which began back in 2014 it is very much focused on replacing the cash and coins in circulation and focused on retail payments on consumers there have been a number of projects now the pboc is looking to expand and ho

robinhood rescotore crypto trading after an outage last night that issue coming on huge demand for dogecoinch traded near 30 cents it was below a penny to begin a year it started breaking higher after conagra mentioned the crypto currency on the earnings call. the ceo of american eagle expects malls to boom once the country gets past the pandemic he was on "mad money" with jim last night he expects traffic to rebound and the next decade to boom for business as people emerge from covid with confidence. >> the mall's not dead the mall is still alive. it is just right now that people are still going and shopping people have to be careful. we are very excited about the future of the mall and we think that when things get better and the pandemic goes away, you know, we could look at the roaring '20s >> american eagle reporting this week that business is already exceeding expectation as americans get out and spend their stimulus check that stock up 20%. >>> the dow closing above 34,000 for the first time yesterday markets are booming. are we seeing a different story with the bond markets and stoc

i say dogecoin is a gambling chip. what say you?that is what it is with a speculative instrument, keep going, make sure you keep your profits because at some point it will crash. it is a fake coin that came out as a joke and has simply run away so that is a lot of fun but not serious, there is no utility in it, not a transactional means, there is no store value to it. it is a joke. as far as a speculative instrument have fun with it. that is it. stuart: would you extended to bitcoin which is 55 grand? >> it has greater utility and the prospects of utility and being picked up as it has been by institutions and money managers and fidelity and folks trading at it is not in the same category as dogecoin but the ultimate utility, the transaction costs of transacting and it is high. stuart: thanks very much, just dealing with susan who wanted to jump in. >> bitcoin is more centralized. there's only going to be 21 million bitcoin's and the reason people buy crypto currency is they don't want government to control policy. they don't want a

the exception is the so-called old coin, those goingm -- dogecoin.l us some of the potential factors. >> we had such a run-up in the coinbase listing, that is some of it. you have the come down on the weekend with quieter trading. there are often rumors swirling about extra regulation among there talk about u.s. treasury coming in and regulating more. a number of things. he also had a couple of exchange issues -- you also had a couple of exchange issues that were probably minor, but there were a number of things that could have contributed. haslinda: joanna, what was the impact on the wider crypto universe? joanna: you had all of these coins going up in advance of the coinbase listing. you look at the one-week performance and everything was doing really well, so this is a comeback from that. ether slumped more than bitcoin, and as you said, dogecoin is the stand out, it is still more than 300% higher the past week, but the crypto universe overall did suffer somewhat. rishaad: we have seen wild gyrations in the crypto space. contextualize this for us.

bubbles and bright and shiny things rising assets from dogecoin and hampton houses you will not believehat some houses in the hamptons are going for this summer. we'll tell you anyway right after this >> announcer: today's big number 109. that's how many new spac deals were completed in march. a new record according to data from spac research issuance has plummeted so far this month dropping to just 10 after the s.e.c. that issued guidance and spac guidance as liabilities 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. >>> welcome back it seems that everybody has some bubbles on their minds these days prices rising from lumber and corn and dogecoin. it is hard to know at any given moment in time you are in a bubble it ma

you look at dogecoin which was originally made as a copy of bitcoin.kind of a meme-led community. you take a giant step back, despite having a 400% spike over the last week and its now valued at about $50 billion, the giant step back is you look at elements that are absolutely new. they're happening in realtime. look at wall street bets and gamestop this is cooperative capital. these are people that have access to trading, they have access to information. the way they communicate and collaborate between reddit or twitter or discord are all new avenues for figuring out alpha or thinking through what the next investment is so it's less about dogecoin for me and there is a new community that is altruistic, wants to make money and have some fun along the way. so with that you're going to see things like gamestop get rescued. you're going to see other corporate citizens that are doing well on either a carbon footprint or some kind of a human rights dynamic to have an effect on that and so these folks are voting with their wallets our new player in financial

i will dodge the dogecoin. thank you, scott. good. >>> 6:19. las vegas making a comeback for all-time visitor lows. the nevada gaming board said the casino statewide took in more than $1 billion in winnings last month. that's the first time since february of 2020. the newman of tourist is climbing with more than 2 million visitors last month. >>> trending this morning, are you back to the office just yet? chris and i are right now. if you are or are not or will be returning soon, it turns out where you are seated actually matters. >> we might swap our cubicles now that no one is here. people are more distracted in an open layout like the one behind me. oh, no. it turns out having a desk over lots of co-workers makes it hard to concentrate. marcus, we're both out in the middle. >> when you were saying that, well, you're describing our work environment. >> no windows, no back to the wall. >> it's been nice to catch up with colleagues back in the day. now it's a ghost town. i can't wait until we get back to normal. >> good to have you in here with

stuart: i don't remember saying if he bought dogecoin or joke coin.s has bitcoin so everyone was like a elon musk is buying it privately also, something we didn't know before. stuart: 716 is the tesla quote as we speak. now, ups way way up this morning. a .9%. i guess that pandemic was good for them. susan: you see a lot of the delivery trucks on your street with better sales, better profit, delivery volume up 14% from a year ago. it's driven by small and medium-size businesses, not the amazons with these giant mega tech companies we talk about. upgrading the stock calling it a hold worth $150 at least. stuart: $150. susan: that was up from the cell because they actually did call it a salad now they say if you have it, hold it, don't buy any more. stuart: i will never understand these guys other companies with earnings today, 3m strong earnings, sales and personal safety products like the n25 mask of about 13%, but didn't do well, down 3%. how about crocs, kind of funny looking shoes. they raised their 2021 assails outlook expecting sales to surge 40

and why we sing a haven play when it comes to the likes of dogecoin? >> there was a big run-up when it came to coinbase listing. a little bit of speculation about potential extra regulations about crackdown from treasury, things like that can take on a life of their own. especially with liquid trading on a weekend. there was so much frenzy leading up to coinbase, probably some errors being let out because of that. shery: put the drop in context for us, how unusual is this? >> it's the biggest since february. this is part of what you get when you are in crypto, there will be ups and there will be downs. of course, in the broader context of things, everything is still way up. bitcoin is still real around 56,500. things have come back, you are going to get volatility when you have crypto. it is part of how things are right now. haidi: what about the impact across a broader crypto universe? set it up in terms of -- is this something we expect, the volatility? >> right, exactly. the crypto market cap had gone above to trillion dollars and then, actually ove

dogecoin up 20%.n the ellen degeneres show listen >> i wouldn't say it's the world's best investment but it's a whole lot better than a lottery ticket and it's a great way to understand and start learning cryptocurrencies. >> what does the crypto kpl community think about all this >> you have elon musk calling himself the doge father which sparked a vital campaign on triter anything he says surrounding d d dogecoin seems to upset price. if you're buying one doge coin for fun, the risk doesn't seem to be too high the upside it's seen as gateway in the way that mark cuban is describing to invest and understanding crypto kcurrency there are people saying this is fun. they're not putting their life savings into doge coin it kbcould be a good thing. >> you just might have -- i could see sort of two justifications for this. on the one hand if they have a vehicle like there it might keep people in more of the mainstream, so to speak, where they want exposure on the other hand they might think this structure

. >>> dogecoin shares surged after a few celebrity endorsement.r elon tuvg dubbed himself the dogecoin father mark cuban touted the currency and said his team is on track to complete 6,000 transactions in april. >>> avelo airline launching today with a round trip between about your bank and santa rosa fares start at 19 bucks plus $10 if you want to check a bag >> netflix today rolling out its new play something feature can't figure out what to watch press the play something button and netflix will play something based on what it knows about what you like. >>> on wall street the dow down 165. s&p down 4 the nasdaq down 39 >>> i'm shepard smith. on cnbc. it's the bottom of the hour. time for the top of the news >>> the olympic committee releasing its latest playbook today the rules and regulations designed to keep athletes safe, plus new questions over where they will stay >>> kentucky derby this weekend. they are preparing but can they deliver. the demand for food, drinks and supplies that companies haven't seen in months >>> and biden prepares to

as you look at the sea of red, dogecoin created as a satire has been up 25% in the past 24 hours.you the power of the meme trade, but now we are in the real world -- weird world, rather -- perhaps dogecoin is where you get your diversification. anna: thank you very much, dani burger with the stock movers. let's get a bloomberg business flash. laura: the coheads of credit suisse are leaving the bank in the wake of a 4.7 billion dollar loss from the implosion of archegos capital management. they will help through mid-may in an orderly transition. bmw is joining daimler in exceeding earnings estimates. first quarter estimates were higher due to a rebound in demand, especially in china. carmakers are benefiting from a broadening recovery. concerns are shifting to a shortage of semi conductors. the french government has tightened its grip over air france klm and increased its stake to three times the netherlands. this upset a politically sensitive equilibrium. both france and the netherlands owned about 14% before. anna: thank you very much, laura wright. let's talk about technology. i

susan: right. -- dogecoin. susan: what about tesla's stock?ever miss such an opportunity the, ever. [laughter] we agree on that one. susan: yeah. stuart: how about this? nascar, they did permit 35% whats defor fans at the race yesterday at talladega. pete hegseth and will cain, our colleagues and friends, they spoke to some business owners about the big race and what it meant for their businesses. watch this. >> business has finally picked up. we are just now getting back to the numbers that we were at in 2019. >> we've really stayed maybe 55% capacity. we're opening up in phases so just don't have the staff right now. >> we've seen a lot of people as the weather warms up, as the mask mandates come off, people are ready to get out and have some fun. stuart: some of those business owners were actually offering bonuses and higher wages to get people back to work, and they couldn't do it. andy puzder joining us this morning. andy, it's come to this? even if you offer a bonus and maybe higher wages, they still don't come back for you? >> yeah, it'

coinbase does not offer dogecoin but robinhood does and said that it saw a major outage in its crypto trading feature after, quote, unprecedented demand. robinhood is now number one on the u.s. app store this week coinbase came in at number two after its listing. that app store dominance is seen as a little bit more evidence that investing is becoming a form of entertainment for a lot of people. guys, back to you. >> no question about it. kate rooney. kate, thank you. >>> after the break, shares of pnc moving higher on the back of earnings this morning. we will break down the quarter and the state of regional banks and the economic recovery when we are joined by the ceo next. you're watching "closing bell" on cnbc. the dow is up 163. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> welcome back the dow up 167 shares of pnc rallying today on the back of an earnings beat that stock doubling over the past year. pnc's ceo joins us for an exclusive interview. bill, welcome back to the show good to have you. >> it's good to be here. thanks for having me, sara. >> so big bottom line beat, better fees,

no jokes here, but mark cuban said to ellen degeneres that sent dogecoin to the moon.nie

dogecoin began as a marine but is now trading in an asset worth over $50000000000.00 that's more than some of the nation's most lucrative publicly held companies like the hotel giant marriott international and the ford motor company this looks eerily similar to the game stop phenomenon that sit social media into a frenzy is traders recognize video games still matter and those who would help their stocks became quite wealthy very quickly but the latest market episode point is getting a ton of attention because it started as somewhat of an april fool's joke the transformed into a real acid today is. across the internet and the price of the cryptocurrency continues to rise crypto currency is the new baby of the finance world but that doesn't seem to stop people from believing it the currency is prone to volatility but the risks aren't stopping investors americans are even using stimulus checks to get their share point here to tell us more about the mysteries of cryptocurrency as a professor of economics at international affairs and co-founder of democracy at work richard wolffe welcome r

now been moving elsewhere in the crypto world here for the 2nd time this week dogecoin has hit a milestone and this time around it means maybe well actually again due to a lot of musk who tweeted doge barking at the moon in a tweet and he also shared a photo of a painting by spanish artist one miro which was titled dog barking at the moon why is ilan musk so interested in goats going is all about shaking things up like ilan likes to do i think that's exactly what it is it's not a question of why does he it's why not do it right i think i think he would genuinely love this idea about those coins that it is simply a currency that has value because the people who supported have decide. it has value and therefore they're moving forward he seems to revel in this idea he loves this idea by the way this is kind of a central point to what crypto currency is all about right you have to believe in this and so the people who are of the loyalists to do also believe this they want to see it rise all the way up to a dollar that's the big push is to get it up to a dollar and seems to be a part of that he

. >> bitcoin and dogecoin, that has generated a lot of attention.ryptocurrencies in the quarry financial system and how we traditionally think and use currencies is still very much at the margins. this is something that will gain a lot of attention. to the effect that it actually impacts how traditional currencies perform and behave, that is still driven by the traditional factors. macro monetary policy. i think it is still on the margins. obviously important to watch. not really factoring into how we are thinking about forecasting overtrading the traditional trading. shery: jp morgan has just called the yuan overvalued. we had seen cnet again strength but a little more weakness recently. i explained this call and where it is headed especially with dollar weakness. >> we think dollar weakness is temporary. the rise in u.s. yields will resume as a major factor for markets. this will be a challenge. higher u.s. yields will be a bit of a challenge for dollar cny. the renminbi having been a very strong currency, we have shifted our view on that. our for

increasingly getting vocal about cryptocurrency and dogecoin. self proclaimed meme king.s an investor in tesla, would you rather he quiet down on social media and focus on the job at hand? >> no, i actually wouldn't you know, genius rarely co conforms elon musk is a visionary you will see these people skew i take it as an entertainment source it hasn't hurt the performance over the years i rather elon musk be left to behave the way he wants because he is doing a lot of things right. if heexpresses himself in the ways, investors should ignore it >> all right emmet, great to hear from an investor what you think of his comments and what to expect. thank you for joining us on "street signs. >>> still ahead on "street signs. a blockbuster night for the streaming giants at the academy aw awards we bring you the results after the break. >>> welcome back to "street signs. it's a record year for streaming services at the academy awards broadcast by abc last night. netflix and amazon scooped nine awards this after the academy scrapped the requirement that movies must be released in

i feel like i know what you'll stay about gamestop and dogecoin he has says you can own three stocksway to go but he would probably be first to say you do have to do your homework in that case >> i think it's really important for investors to separate investing from trading from speculating from gamab gambling. there's nothing wrong with gambling or speculatie ing as l as you know that's what you're doing. you don't want to let it contaminate everything you own and all your strategies. if you're the kind of person who used to enjoy going to vegas for the week or buying a lottery ticket, there's nothing terribly wrong with doing that in your portfolio as long as you segregate it and keep it from infecting the rest of your thinking >> i've heard that some great traders, for instance, professional tradersing big time money managers will do things like when they enter a trade write down when they exit it once you're in it, you change based on new information and to keep yourself honest you say going into it, i said if it's up 30% or if it triples, that's when i exit and exit can go be th

dogecoin is up what do you make of dogecoin, i thought it was originally supposed to be a bit of a jokeogecoin it hasn't been an area of focus. >> michael great to see you appreciate it. >> thank you >> joe >> thanks, andrew. former house speaker john boehner will join us live with a read on politics in the biden era. his reflection on the trump era and his work in the cannabis industry and a list of his most famous boehnerisms i had to practice saying that so i didn't make a big mistake. the biden administration will punish russia over the solar winds hack and it will prevent u.s. financial institutions from buying u.s. russian bonds. you're welcome that's starting june 14th. more details coming up later this morning we'll be right back. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do t

interests driving up bitcoin and you have this massive interest driving up everything from game stop to dogecoin, you name it. am i describing it correctly or are there more commonalities >> what we saw happen last week was pretty astounding. i think the satcatalyst was the wall street bets community only three coins a day later they reversed that decision because all the crypto folks went crazy in the forum. i think part of the response was retail retaliating and tik tok investors made a song about doge to $1. >> we used to joke with my brother if it got do a dollar, he could retire. he was like i got bored and sold it i was like what. this is what stock traders have been dealing with for years. tell us what the next hot coin will be. >> that's so interesting a lot of people know it's a joke they're not looking at this as their next big investment in terms of putting their retirement money there i think there's a lot of interest in getting on the momentum train it seems to be anything tied a measu meme it gets back to the robinhood argument of is it wrong to gamify stokt stocks. you have the ri

>> john: i like the dogecoin. the symbol is a dog. i've always been a dog person.should i be buying currencies based on what the logo looks like? >> sandra: tesla is starting to accept forms of payment. and dallas mavericks team offered their products for sale with dogecoin. they set a record. as larry kudlow said, it's no joke. i'm sandra smith. >> john: i'm john roberts. "the story" with martha maccallum stars right now. >> martha: i'm martha maccallum in new york. this is a story breaking right now. an armed suspect is on the run in the new york city area. this man on the right-hand side of your screen is gabriel wilson. he's been identified by the police in west hempstead about 30 miles east of new york city. he's a person of interest in this shooting that has left at least one person dead. two wounded inside a stop and shop grocery store. officials say that he was and still may be an employee at that store. the man that he fatally shot worked

i haven't been this be wilds wie by a story this sijs since dogecoin >> i think you put it well thisle of shareholders and tstake holders. >> it's probably unlikely they will sell because of the billions needed to buy the fans have a say. i think there's a high chance that the con ksequence of this d the owners will regret the day they tried to push the boundaries too far broad representation to some level will have to contain some fan membership those owners will regret the day they pushed their stake hholder too far. >> why do they need a seat on the board? they have proven they don't need one to make their case look at jon's face >> what now? >> we're going to move on. amazon is getting hands on with grocery shoppers testing palm scanning at whole foods in seattle. they are planning to roll it out across other locations the software allows shoppers to pay for items by scanning their palm over dae vice they have to pair that to a credit card but then they can use their palm after that. i feel like every two weeks amazon a opening a hair salon. this is a legitimate innovation we'll

i won't show you dogecoin.p to joe kernen those are big declines on this friday so those are your macro markets. let's get micro. after a phi few weeks away, your favorite segment is back the list of the biggest buys something to know ahead of time. we have seen a lot of selection selling by board members much more selling than buying. people will sell for a lot of reasons. normally they buy for one. they think the stock is going to go up. really pay attention to these names. as always, we are counting you down five to one here we go stock number five. app lovin. ticker app director buying in at the ipo. snapping up 2 $288,000 stock number four. bed rks, bath & beyond. the ceo stepping up for the purchase buying 4$489,000 and the next stock tu simple holding. a board member joining a couple of other insiders and buying $735,000 of tsp. and the two biggest? number two is new residential. ceo stepping up to make the buy in the secondary stock offering. the first in 2019. another secondary didn't time it well he i