elon musk has only ever been consistent on that point.e talks about that is the whole rationale for the company. he talks openly about a carbon tax. he is the chief executive of spacex and has set openly i would happily pay a carbon tax to offset spacex's in mission. -- in mission. he gives the appearance of gang an expert in both fields, energy and cryptocurrency. we have limited wall street reaction. it is a u-turn, which is founded on what you expect to be a good knowledge base. joe: really appreciate your explanation even though it is still a bit of a head scratcher. our thanks to ed ludlow. running us more -- joining us for more counsel island venture founding partner nick carter. what is bitcoins plan? what is the roadmap to transitioning to proof of stake system and longer relying on computationally intensive mining? >> bitcoin does not have a plan because it has no leader. when individuals or firms have tried to commandeer bitcoin, they have not been successful. bitcoin has no plan. the consensus in the community to the extent it

to do with elon musk.oe: bitcoin itself had been below its highs from february. it had been going sideways for a while. some of the movement with other coins. when tesla bought bitcoin earlier this year, that was seen as such a key signal, enthusiasm, the most cutting edge company on the world putting its weighton it. -- weight on it. to see the angst of energy, because regulators care about that stuff, it is a blow to bitcoin. emily: tesla down big time for the week. it had to be pretty transparent about how it is benefiting and not benefiting from its bitcoin investments, since it is still holding bitcoin, just not accepting bitcoin as a form of payment. ed: tesla shares down the most one week off since february. it is about communication. in the first quarter of this year, 1/5 of their pretax profit was the gains they made on bitcoin. during the earnings call, that call basically said we are monitoring the situation closely, his words, we will continue to accept bitcoin as a point of payment for our veh

ed: i have sat through a lot of elon musk earnings balls and i think back to factory -- elon musk earning to factory date last year. elon musk does have a tendency to go off script. he will often interrupt other executives. you start your earnings call, the ceo reads off the piece of paper. there are prepared remarks of elon musk. it always goes in a different direction. it is interesting to see how saturday night live will go. he is sappy. tesla does not spent -- he is savy. tessa spends a negligible amount of money on advertising. he uses his own following to promote the brand. one would assume going on saturday night live, this is part of that, to promote him, to promote his companies and the different things he believes in. guy: i just have one wish. that he is funny. alix: i don't know. that promo did not look funny. guy: low expectations from alix steel. alix: they are so funny, maybe they can help. let's put kate mckinnon next to him and have her talk. guy: -- kriti: we might find it -- ed: we might find a new star in the world of television. you never know. alix: that is what we n

elon musk is now or risk for you guys.: some of the stuff going on with yvonne -- i can't speak for elon. when we got into the conversation is when they began to really veer off course and not disposed the truth. we are about being able to show we are a responsible company. we are proud of that. as i said, 100. percent carbon net neutral bitcoin is here to stay. it is the digital currency of our time and is very disruptive to the central banks and financial markets structure. we will be the leading edge. we are the leading edge company in north america to help drive that change. alix: we will talk again in the future. there is the whole story beyond bitcoin. the blockchain and the potential for that market. we appreciate you being with us today. kevin turner is the ceo of core scientific. we will see a lot of that, companies that want to be carbon neutral in the world. it's important to start establishing what that means so investors understand it. alix: some industries are in a tough place. i look at airlines. there is no

elon musk hosting snl this weekend with miley cyrus.d for suggestions of what to do it is sketches on twitter. joining me to discuss, ludlow -- ed ludlow, who i know will be tooted. the real story -- i know will be tuned in. the real story is doge watch parties planned for this snl. >> this is the least subtle walk up to it snl of all time. he tweeted multiple toy names -- multiple times, references to doge coins and all you have to do is look at a chart of dogecoin activity since elon musk announced hosting and it has been on an absolute tear. this is a cryptocurrency that started as a joke. what is important here and if you read the serious analyst's notes, you take this seriously. snl is broadcast to everyday americans and globally, so it is putting this cryptocurrency into the living rooms of everyday americans, and it has elon musk at the center. emily: they talked about it in the promo, elon musk notoriously does not like rules and notoriously does not come up miley cyrus. i wonder what he could do that could surprise us. >> if yo

who knows what he will say tomorrow -- elon goes back and forth. every time i see a chart with lines, i have to remind viewers that i'm not abigail doolittle, so i don't know exactly what that means. when i see one line going through other lines and point down, it's not a good formation. for more on the market, what is happening in the world of crypto and everything else? katie, my son woke up crying at 1:30 in the morning, so as i usually do when that happens, i check my phone, and i saw the crash happening. katie: those lines don't lie, and you did see bitcoin's price move a little bit back towards its 200-day moving average. maybe that was acting as a magnet, but i think the bigger thing is that you saw the crypto protection team out in force today. cathie wood, even elon musk, who, like you said, goes back and forth. to see all those three come out and really say that they are holding blind, cathie wood in particular reiterating that price target. you did see that huge plunge, still down over 9%, but we are not talking about 30% anymore. romain

perhaps no other person can move markets like elon musk can move crypto right now here's how elon andbitcoin hit an all-time high in april when it topped $64,000 by the end of the month elon tweeted that tesla sold some of the bitcoin and then he turned more bearish recently. tesla said it would no longer accept bitcoin as payment. that was back in here. you can see how the price sank after that now, more recently over the weekend, musk sent a tweet saying tesla would sell more bitcoin and that's taken it to a three-month low. musk sent another tweet sending prices jumping at 2:00 a.m eastern time to clarify tesla hasn't sold its bitcoin. there's the intraday chart that's what got us back to positive territory by this morning. so all of that said, how can an asset be so highly valuable if its price is so easily influenced by one man's twitter account? let's bring in mike bocelli to break down how investors are reacting to this it seems like elon musk represents corporate demand for holding a portion of your cash in bitcoin to the extent that he's waffling on it, doesn't that represent

what's with the monkey, elon he's very capricious that way. i'm trying to place him in the pantheon, barnum, howard hughes, but he does a great job selling tesla, space xvrm and what her recognizes he's very important for. space x is killing it with these contracts they're getting from the government tesla still is delivering more cars even though all that advertising for other cars i don't think most have shipped as many cashes as tesla by a far measure. also pioneered the area. so some of the things he made fun of himself, about really hs appalling comments about covid problematic, i think like he said, you're not going to get everything you like out of this guy, but people sure do like him i'll tell you that. and people don't like him, too. >> kara, don't forget -- got -- exactly. polarizing but got to bring his mom onstage, too talk about making someone likable? another big point there, but should we be asking the question, should we let him be so likable you just mentioned some of the problematic things should we whitewash some of the thi

i welcome elon and brilliant minds like him.lps us drive forward more and more sustainable innovation. you are seeing we are moving from a proof of work to a proof of stake type of mechanism. when they do that, that is the way we are driving more renewable energy. in any case, i just want to say, i do think that there are a lot of other industries and devices that consume a lot more energy with bitcoin, so you have to put things into perspective like christmas lights and dryers and game consoles. but we want to have these dialogs that we want elon to participate. i would not be surprised if there is something bigger behind that. emily: that is interesting. he was just on snl talking about dogecoin saying it is a hussle. unclear whether he was joking or whether he was serious. either way, markets are reacting to that. coinbase does not carry doge. are you at all reconsidering that and why don't you at this point? >> we have a process where we list assets according to a framework we pioneered. look at a variety of different activi

jan musk tweeting out saying that process is ashes elon musk tweeting out saying that -- elon musk tweetingut saying that process is not energy-efficient, and he may be looking at alternatives. this is a downward story all week long. you can really see the underperformance. shout out to my colleague eddie van der walt pointing out the correlation between bitcoin and tech is pretty strong right now. let's take it back to ethereum. you have really seen ethereum has skyrocketed to the point where you can get far more bitcoin for a certain token or unit of ethereum then you could before. it really speaks to the power and outperformance of ethereum in the recent months. alix: really appreciate that set up, kriti gupta of bloomberg markets live. you got prices paid to u.s. producers rising more than expected in april. for more, let's bring in mike mckee, bloomberg international economics and policy correspondent. after yesterday's cpi, this was like, eh. [laughter] michael: we were shocked by yesterday's cpi, but no surprise in the ppi because we know there is some inflation out there, and this i

elon musk is hosting "saturday night live."s met with criticism from some fans of the show and the cast. >>> before we get to elon musk, negin, let me pickup where we left off in the last segment and let you share your thought. go ahead. >> i just was going to say about matt gaetz, pro tip for fund-raising, i would just not send or receive any mon i from matt gaetz on a cash app because it may not turn out well for you. i just wanted to say that. >> see, i hope we're not the funniest thing in the building tonight. that's all i'm thinking. oh, my god, wouldn't that be awful if like the best comedy was on msnbc on saturday night? that would be a bad, like -- that would be a bad -- >> new show idea. >> no, no, no, don't -- don't do that to me. i thought we were friends. here's what i was thinking about elon musk. jonathan, i'll start with you. on one hand, i feel like there are so many artists who have busted their necks for years for the shot at something like hosting snl that, i mean, elon musk is walking the sales boards as geo

elon musk. it's going to be a good one. >> got to check it out. >> all right.od night. >>> tomorrow

my final question to you, elon is right in front of you. what do you say to him about what he said last night? >> i would ask him, hey, elon when are you coming out with bitcoin mining equipment that has zero energy impact, and when do your products start servicing the needs of bitcoin miners, because there's nobody better at battery storage than elon and he really should be focused on helping the crypto industry become much more energy- conscience and greener, so i would love to have elon in front of me and i'd love to have a conversation with him and say elon let's partner, let's figure out how we really take on this challenge, and how we totally green bitcoin mining. liz: huh, okay, let's see if we can get that to happen. i'd be happy to cover the conversation, fred thiel, great to have you on the program thank you so much and we do want to just quickly check bitcoin at the moment yet it is pretty much struggling here. remember it was about $54,000 yesterday, per coin. right now i'm looking at it around 48,000. well the broader market is

i welcome elon and brilliant minds like his. a proof of state mechanism. when they do that, that is the way we are driving more renewable energy. in any case, i want to say that i do think there are a lot of other industries and devices that consume a lot more energy than bitcoin so you have to look at it from the perspective of christmas lights and dryers. we want elon to participate and i would not be surprised if there was something bigger behind that. anna: the president of coinbase speaking about the future of cryptocurrency. coming up on the european market open, count down to the holidays after months of pandemic restrictions. england is due to reopen indoor hospitality. there are still some rules on may 17 we speak about summer bookings from the ceo of international hotel investments that operate corinthia hotels. this is bloomberg. ♪otels. this is bloomberg. ♪ anna: welcome back to the european market open. 8:39 in london. gains moderating little across the european equity markets. we are seeing gains but not as strong

so the idea that elon musk will somehow wrangle control is wrong.ut it is neither good nor bad that he is coordinating this. these are discussions that are worth having and worth exploring. emily: there may be an underappreciated trend at play, and that is defi. explain to the normies what this means and why this could be such a tight tectonic shift in the market that is already shifting so dramatically. spencer: i am glad you asked. four or five years ago, from a venture capitalist perspective, everything we were doing was around bitcoin and its growing ecosystem. over the past few years, in contrast, everything has been oriented around defi. it is the future of finance. digital infrastructure for digital financial services and digital assets. this is where really we are seeing all of the adoption and contraction and all the really entrepreneurial activity harnessed within this defi ecosystem. defi is what fintech has always wanted to be. fintech is digital tech with the same antiquated structure, whereas defi is building a new structure from the g

bit coin takes a dive after elon musk says it will stop accepting it.olonial pipeline resumes fuel shipment. bit could take days to fully restore supplies. good morning to you. after that blowout inflation figure the highest on -- since 1982. what john authors is saying this is not just base effects. what's happening with the inflation figure. you see it reverberating around the stock markets around the world. msm asia pacific down 1.04. and wiping out of all the gains yesterday. nasdaq closed out more than 2%. futures are in the green in the united states. but we are in the red over in europe. bringing board number two, taking a look at what's going across ace set yields. 10 year treasurey yield 10.8%. brent crudes, and colonial pipeline, they're going to be restarting that. we are inching ever so closely to $70 on brent. and bit coin this morning down about 7%. elon musk ditching bit coin when it comes to tesla accepting environmental concerns. a very brief or transitory love affair with the crypto currency. and that sent shock waves around that unive

elon musk has lost his spot is the second richest man in the world. a drop in tesla shares has pushed him down. musk held the top spot as recently as march. it is currently filled by jeff bezos worth $190 billion. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. annmarie: just ahead, we have a look at the biggest hedge fund managers and how they spent their cash in the first three months of the year. financials were a key sector. coming up, next. this is bloomberg. ♪ >> we will be spending more than netflix. right now between us, we are spending $20 billion a year on content, and we expect to spend more than that. together right now we have almost 100 million subscribers, and neither one of us have deployed aggressively outside the u.s. we are differentiating in a meaningful way in the u.s. with the extraordinary ip that john and his team have built. it is a differentiated and compelling offering. manus: that was the discovery ceo on his pl

whether it'll soon be solved, when and what it means for gasoline, oil, jet fuel and pipeline stocks, elon musk disrupting the crypto world with one single joke on "saturday night live" dogecoin swinging wildly in the wake of that group joke, robinhood platform broke again as spacex ceo still insist today he is sending the currency to the moon. we've got the new ceo of the biggest cannabis company in the world erwin simon is here just as one state in particular is about to vote to legalize pot for adults. that is literally happening the next couple of hours, colonial has a message for the hackers who hit the oil and field pipeline with ransomware your attack was not as powerful as you thought it was, let's take a look at gasoline, heating oil, crude oil, we do have them in the aftermarket session they had closed slightly higher at least for gasoline which is a wholesale price, heating oil did move higher by seven tents of 8%, they are well off the 24 hour highs that were touch which delivers 45% of the eastern seaboard was taken down but suspecting russian hackers demanding more from a ran

let's get more on this u-turn from the tesla bus, elon musk -- boss, elon musk.ng us as joanna, who covers crypto for us. what makes this news, in your view, quite surprising? is it that there is no new information on the environmental damage of the bitcoin? or is it that elon musk has been pro bitcoin for so long? what surprised you about this? >> the main thing that is interesting, it's not just that the information is not new, it's that even in recent weeks, elon has responded to say a study on the environmental impact of bitcoin and said that it might not be so bad. he replied, "true" in response to bitcoin having good effects for say renewable energy. it's not like he has not been thinking about this, at least to some extent. i will add one more to what mark was saying. dogecoin, people have been saying is he going to bring the dogecoin in? that might be a bridge too far. it does bring up the issue about alt-coins. and is he going to go somewhere else or is tesla going to try to set up some arrangement where they try to get only bitcoin mined in a more energ

that was a word that elon musk used. so trading at home is seen as a job. so there is this blurring line between people who are working virtually or not really working at all. but i will quote, and i think president biden actually use these words but i will quote dana perino, there is honor and dignity and work and that's what this country is based on. my issue with joe biden's plan or that the democrats plan to the left is that they take decision-making away from the individual.

elon?st did a successful rocket launch this week. >> wow. i did my laundry. >> congrats. >> actually, no, i didn't. >> there are a few other stories making their rounds this week. one of which is happening right up on the 8th and 9th floors. elon musk is hosting "saturday night live". that decision was met with a lot of criticism from fans of the show and some members of the cast. before we get to elon musk, let me pick up where we left off in the last segment and let you share your thought. go ahead. >> oh, i just was going to say, about matt gaetz, pro tip for fundraising. i would just not send or receive any money from matt gaetz on the cash app because it may not turn out well for you. so that's -- i just want to say that. >> see? i hope that we're not the funniest thing in the building, tonight. that's all i'm thinking. like, oh, my god. wouldn't that be awful if, like, the best comedy was on msnbc on saturday night? that would be a bad, like, damn. that'd be a bad look. >> new-show id

and tesla's elon musk sends bitcoin into freefall. he says the carmaker will no longer accept the cryptocurrency because it uses insane amounts of energy. ♪ i'm brent goff. to our viewers on pbs in the united states and all around the world, welcome. we begin with the escalating conflict between the israelis and palestinians. egyptian negotiators are talking to both sides, but so far, the's no breakthrough report. israeli forces are reported to be building up on the gaza border, and the army calling thousands of reserves. israeli forces have hit back with devastating airstrikes on gaza, and mob violence has broken out in israeli cities. the death toll in israel and the palestinian territories is rising. >> they are shouting, "revenge." hamas supporters in gaza hold funerals for 13 militants killed in israeli air raids. the atmosphere is charged as the conflict between israel and the militants worsens by the day. one of the israeli casualties of the manhundreds of hamas missiles, a soldier who died too young. israel's prime minister sa

a fresh tweet from elon musk.e is saying, i strongly believe in crypto but it cannot drive a massive increase in fossil fuel use. it has been a roller coaster ride for the cryptocurrency. it all starts in that yellow circle when elon musk tweeted that tesla will suspend use of bitcoin as a means of payment for its vehicles. they disclosed that not only get the company they invested and it but they would accept bitcoin as payment for its cars. we pared some of those losses back. in the last hour, he seems to be walking back his support, saying yes, i do believe in cryptocurrencies. this bar chart puts it in context. there is as much energy being used to mine bitcoin as there is being used by entire countries. if you look at that video on your screen comedy mission statement at tesla has always been to advance the transition to sustainable energy. he is the head of a company that does solar and energy storage. why is this a surprise to him? is it a question of they just did not check? or is this aboutshort-term jump

as always it is linked to an elon musk tweet. bitcoin after the weekend selloff. we are seeing a little move there. 1.25%, not a great deal of price action given the context of what we are used to seeing but this comes after elon musk continued to affect the price of bitcoin on monday, taking to twitter again, indicating support for what he says is an effort for bitcoin miners to make their operations green are, and it got a great deal -- and not a great deal of detail about that buddy held a call with north american minors to talk about energies standardization. let's take a look at bitcoin links stocks, right now. shery: take a look at monix and these stocks in japan. monix group owns crypto exchange coin check. we are seeing gains of more than 5% at the moment. we are looking at japanese stocks to watch out for. those korean crypto linked stocks as well will move. haidi: virgin galactic will successfully -- successfully flew a test flight from new mexico into space on saturday with two pilots on flaw -- on board. their stock s

all of the fuss over elon. own blake burman following the administration's post-data pitch i guess, blake? reporter: yeah, well you know, this was a miss, neil, as we know as it relates to the expectations coming in and the unemployment rate moving in the wrong direction, but over here at the white house they are really making a two- fold argument today. on the one hand they are saying don't really look at one month's worth of data instead you got to look at a few month's worth of data during the president's tenure here and when you look at the average of the last three months, it is over 500,000 jobs created, so they say things are moving in the right direction. they are also pointing to the $1.9 trillion american rescue plan. the president clearly signature legislation to-date. they say that the numbers today show that the rescue plan is working. listen here to the president. >> today's report makes clear. thank goodness we passed the american rescue plan. help is here, and more help is on the way, and more h

and don't forget, elon musk, "snl," it's going to be a good one.in thomas: thanks so much for joining us. i'm garvin thomas. if your faith in humanity has been running a bit low lately, well, our job for the next half hour is to fill that faith back up. we have a bunch of stories about people going out of their way to help others simply because it's a nice thing to do. we begin with a story about not just one good deed, but two. garvin: there are many out there who are fond of comparing the year we've just endured to a dumpster, most often one that's on fire. but while this story does indeed include a dumpster-- evelyn topper: do you want me to tell the whole story? garvin: it feels, evelyn topper says, like everything the past 12 months was not. evelyn: just a beautiful story. san rafael coffee shop. there she is on the shf ai lattg her wallet back in her pocket

su: elon musk attacking bitcoin's energy demands. can see his comment saying he still supports crypto, bashing bitcoin. it was down as much as 15% the last few days. his prior treat not only criticize -- tweet not only criticize its energy use, but said tesla was no longer allow bitcoin be used to buy teslas, and that was viewed by many critics as an about-face. he did not tweet out a lot to support his view that a lot of energy is being used. in terms of bitcoin's mining usage, china is an area where most of the mining of cryptocurrencies takes place. china has been vocal about the energy uses and environmental issues. elon musk has been criticized by many fellow billionaires who support crypto. tom? tom: what do we know about this probe into these platforms, including coinbase, who reported earnings for the first time? su: it is the world biggest crypto exchange, under investigation by the justice department and irs. no wrongdoing is alleged. those close to the matter, they want to know more about individuals involved in what they

elon musk is saying tesla will be suspending vehicle purchases using bitcoin. he's talking about concerns about bitcoin's environmental impact. elon musk saying tesla will not be selling any of the bitcoin holdings he has right now, but he's talking about concerns over bitcoin's environmental impact. of course this has been raised numerous times as we continue to see the huge electricity usage mining bitcoin entails. elon musk now saying tesla will be suspending vehicle purchases using this cryptocurrency bitcoin, although they will not be selling any bitcoin. we're seeing the cryptocurrency right now under a little bit of pressure. let's now get over to vonnie quinn with the first word headlines. vonnie: china has deployed warships to a disputed area of the south china sea. before and affairs of secretary says the south asian nation is considering another round of protests after beijing increased chinese vessels in the contested area to 300 from more than 200 in march. he plans to take up the matter with his chinese counterpart. >> [indiscernible] this is esse

elon musk with his tweets, delivering a bit of a blow. not a huge impact rightly on the market other than tack is down, nasdaq down, tesla down over 2%, semiconductors 9%. some hard drive makers were up because there is a new cryptocurrency called chia that people are mining with hard dives. -- hard drives. let's start big picture. the story is more tech weakness, crypto aside, that drives lower. >> feels like it. if you dig down, you can find hints of risk on. if you look at the sector level, energy did well, financials did well, small caps ended higher but it is the tech underperformance that is the big story. that is what dragged down the s&p 500, the nasdaq and much of it is coming from the chip space. it was the philly stocks index that led losses on the index level. joe: when you look at some of the names that fell, the idea that if you have these inflationary pressures and a stock with a high multiple, maybe that income promise down the road may not be as promised? >> i think those kinds of fears and those conversations were percol

elon musk is considering selling off his holdings in cryptocurrency.aiwan go into virus containment mode, adding new restrictions to prevent the spread of covid variance. plus a blockbuster deal on the production in the entertainment industry. at&t is in talks to spin off its media business and merge it with discovery. shery: japan and south korea are coming online. >> we are seeing japanese stocks extend friday's gains. the yen is staying on the back foot above 109. it is the worst-performing g10 performance this year. on the bloomberg gauge it has followed -- fallen to a three year low. we're looking at the likes of bridgestone today and honda on the back of its results. turning now to south korea. i stopped there. jp morgan in the e.m. space and the kospi graining -- gaining ground. we have seen holdings of korean -- equities come under pressure. we are seeing the korean won on the back foot against the greenback this morning. we are keeping a close eye on asian crypto related names. this after bitcoin was weighed at the weekend by elon musk's remar

bitcoin, elon musk comes out -- some people talk about the gentrification of some geographies -- elon musk tries to greenify bitcoin. north american bitcoin miners planning reduce usage. ray dalio was saying he prefers crypto rather than bonds. you have this new renaissance in bitcoin. i gave you this thought from john norman yesterday -- how big is this bubble or is it a bubble or what is the contagion risk from this? this is not the 1980's or the dot-coms of the 1990's, there is the enthusiasm of the elon musk quote on twitter. it is not the subprime crisis of the 2000's. i spoke to the head of fx at hsbc and he says there's no correlation between the polity of bitcoin and cross currencies, just putting that out there. talk about the fed, reaffirming the narrative that it is transitory not permanent, get over yourself. they are discussing the ongoing debate, an event on monday evening. an important part of the inflation done namic is longer-term inflation expectations and those has been extremely well anchored, implying that if we saw some development pushing inflation up, i would n

it is not all about elon musk. dow opening 70 points higher s&p at flatline. it for "street signs." i'm joumanna bercetche along with julianna tatelbaum. "worldwide exchange" is coming up in just a few moments see every delivery... every yikes... and even every awwwwwwww... wait, where was i? introducing self protection from xfinity. designed to put you in control. with real-time notifications and a week of uninterrupted recording. all powered by reliable, secure wifi from xfinity. gotta respect his determination. it's easy and affordable to get started. get self protection for $10 a month. >>> it is 5:00 a.m. at colonial pipeline heads in alphretta, g georgia. oil and gas shutdown we have the latest on the cyber attack and what it means for oi and gas. >>> dow and s&p kicking off a new week at record highs and investors shrugging off the jobs miss. >>> the dogecoin died. the red hot crypto shedding

we should try to find a correlation with elon musk rosie tweets.here was a broader story in the market that got obscured by the crypto collapse. that was the concern about inflation, which do not seem to be as concerned as they were about a year ago. it has come down slightly and they are still kind of tracking in line with what would consider to be what the fed is looking for. katie: it feels like inflation fears that pique anxiety have fallen off the board. in a normal market, we would be making a lot more noise about this. you would see stocks moving more off of that. it's not as fun as crypto. you saw the nasdaq 100 each out again -- eke out a gain, but it has been a rough week. it looks like even these falling inflation anxieties could not help out tech that much. joe: we talk about inflation, commodities, but there are two things. one, there is a reflation, growth, demand for commodities, which i guess is fine, and then there is the bottleneck and the shortages, which aren't fine. one of them is like, we are using more cover and stealing oil

what is elon saying now? susan: what is elon saying about bitcoin?u. it is the new people stock world we live in, right, when social media drives everything these days. i show you at the top of left zen. get back to target, get back to retailers? stuart: go ahead. >> i don't have the element to show you on the screen itself but target sales were up seven fold from a greer ago. why it is outperforming. profit up as well. private labels, curbside drawing sales and profit came out ahead, housing boom helping but there are concerns among the investors how long this trend actually lasts. tjx did better than anticipated. no guidance for the year which was a bit disappointing would i say. same-store sales up 15% dequite closures in europe and canada in the quarter. take-two interactive part of that earnings agreement. grand theft automaker outperformance. the down market the fact you're up 5% is huge. that is because they put in a fantastic first quarter. overall corporate america has put in a fantastic earnings quarter. stuart: yeah. no question about it.

another elon musk week. you had tech stocks leading the rally's third -- the rallies. the question becomes, trend or -- joe: the sentiment toward so many of these risky assets, whether they be the cryptocurrencies, whether they be the qqq world, have done super negative -- have gotten super negative going into this weekend. very strong bounce back. again, the question is, is this the start of something new or a cliche? caroline: tomorrow, we stop pouring about inflation all over again. joe: just repeat the cycle. for more, let's turn to katie. as the cross as a reporter, did ever cross your mind you would be reporting on things like the confederation of north american bitcoin miners? >> i have to admit i never did. increasingly, it feels like tech stocks, crypto, it all trades together. there are some linkages there. you did see bitcoin take a leg higher. the most since march of 2020 as we got some noons -- some news about elon musk and michael sailor. they help form this bitcoin mining council. i was on the phone with council digital. they confirmed there was a meetin

. >>> and elon's crypto cryptic tweets mad at the tesla ceo again this morning. carl >> yeah. what a weekend on that front, de meantime, challenging for technology again nasdaq, worst performer of the major indices after last week's sell-off chips are taking it on the chin today. down more than 2%. faang mostly holding up. the big movers, jon, at&t/discovery opening up double digits and close to flat. >> yeah. that is the deal of the morning. discovery and at&t announced that they will combine discovery with warner media. a merchant to create a stronger streaming challenger for the likes of netflix and disney and one owned by the at&t and discovery share holders currently. shares of both companies surged off thatannouncement but discovery series a lost all the gains, though. disck, still up 9% the question is, is this combination of content enough to catch up to the competition? discovery's ceo's and at&t ceo earlier with david faber >> there's billions of people out there that we could reach in the market we're going -- you know, today we're almost 100 million to start. and s

dogecoin plummeting on elon mus hosting "saturday night live." we have more on the performance next i may have a review from my kids who watched it multiple times. as we head to break. check out the price of lumber after the surge of 360% since the onset of the pandemic. "squawk box" returns after this. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. i think you're going to like it here. umm, why is everyone... throwing things at me? look, as cfo it's my job to be ready for whatever's next. that's why i have my finance team, randomly hurl things at me. it's also why we use workday. it gives us insights, so we quickly pivot our strategy, people, planning, you name it. sorry, sir. i will aim straight at your next step. see that you do. would you like some coffee? workday. the finance

>> elon musk is an important figure in american business.inly in the global retail world he is a bit of an icon. he was great for crypto when he was positive for bitcoin. he had caused some issues. i think if you teach -- take elon at face value, what he said was he worried that bitcoin gets more and more electricity, it could have a negative impact on -- that is true for every industry. so i think you will see a response from this industry like you should see a response from every industry to say, in this gap of time, before all electricity is green, i think it seven or eight years away, we should do something to offset our footprints, and that's in banking, crypto, tech, industrial. >> is it problematic that one of the hottest currencies is a joke, and elon musk, who is the sort of face of it all, is essentially whipping people into that one and sort of multiplying the jokes. you have other people talking about other jokes and does it make it harder to basically make the case that this is a serious industry? >> yes, is the answer. i don't

we want to have these dialogues and we want elon to participate.resident of coinbase on the future of cryptocurrencies. it has been a big week for bitcoin after elon musk stepped up his criticism of the virtual currency. bitcoin currently holding at just under $50,000. the tesla founder says fossil fuel use was a big concern for bitcoin's future. didn't mr. musk know about the fossil fuel worries and energy use when it relates to bitcoin? does this mean that potentially other crypto's like ethereum, litecoin, we could see them get a little bit more speed? >> well, so this is the downside of i guess designating elon musk as your respective crypto god, right. there are a lot of bitcoin maximalist that would look at musk and say he is a super genius, he knows everything that's going on and he really likes piquant -- bitcoin. there was some tension when he started promoting does going -- dogecoin. a lot of the bitcoin maximalist got upset. now, they are really angry. and a lot of them are trying to sort out their own feelings towards iran. on -- elon.

more pain for bitcoin balls courtesy of elon musk. paul: a blockbuster deal in the entertainment industry. bloomberg learns at&t is in talks to spinoff the media business and merge with discovery. shery: more australians are returning home firing up demand for property and jobs. on wall street, we are seeing u.s. futures unchanged at the moment after rising on friday. we have seen the nasdaq 100 outperform the broader index, perhaps a suggestion the recovery may be gaining momentum. deputy i still above $65 a barrel. bitcoin losing ground after elon musk's tweet. you can see retailers are in the earnings spotlight this week. walmart reporting on tuesday followed by target, home depot, and macy's. what's out for cisco because we want to see the impact of the semiconductor shortage which may be upsetting improving corporate i.t. demand. we have breaking news. they are offering hong kong ipo shares at up to $43.36 hong kong each. this comes as the $3.5 billion ipo is set with softbank as an investor. now, we are hearing they will be rais

all of elon musk's additional interest.alk about some news out of tesla regarding that crash in texas. the initial reporting said there was not anyone in the driver's seat. the ntsb has confirmed there is video of someone in the driver's seat. tell us the latest. ed: this is the report we have been waiting for from the national transportation safety board. home security footage shows at the time, the two people told, there was someone under the driver seat. we still do not know how that individual ended up away from the driver's seat. when the fire was put out, it was discovered he was in the passenger seat. not in the passenger seat -- not the driver seat. the ntsb did say he started in the driver seat. he found no evidence all of these -- any of these driver assistance features were used. they backed up what tesla said, that autopilot was not used in this circumstance. emily: do we have any indication of what caused the crash? ed: only that the speed at which the vehicle traveled, we now it made impact with a tree and tha

i don't know why you wouldn't want elon musk to get money.esting? i think is interesting. he is a space pioneer. he is a brilliant space pioneer and liberals don't like him. >> juan: okay, i can answer you. >> katie: i think dana should do comedy with elon musk in space. all right, "one more thing" up next. ♪ ♪ . . ♪ ♪ >> dana: time now for one more thing. jesse? >> jesse: you thought we forgot, didn't you, dana? happy birthday? >> dana: oh, thank you. >> jesse: yesterday. >> happy birthday. >> jesse: was dana perino's birthday. her husband peter was obviously there and of course, jasper. that looks like good cake. and i wish i could have a slice. but, you know, beach season is coming up. day day have you got to watch your calories, i know. >> jesse: happy birthday to scott sanders producer here on "the five." >> dana: good company. pulling my mom out. i was completely shocked. and to get a hug on your mom, you know, for the first time since february of 2020, was awesome. vaccinations helped. she was on the plane. always food. so thanks. up n

and what to do, live from new york, it's elon musk i'll never host "snl." spotted on the streets as he gears up for this week's "snl" appearance what he said that got us going on the one side recent high flyers are crashing back to earth, fastly, etsy, twill twmauricio io -- many trading at or near all-time highs in this tech tug of war what side do you bet on, dan? >> well, right now it seems pretty clear, the pandemic winners, some of these high valuation, high growth names that were well situated during the unique situation during the pandemic that pulled forward a lot of demand and are now faced with decelerating metrics going forward on all sorts of occasions. you have fastly down 25% today it still trades at 10 times next year's sale. so the demand and pace in which these companies are growing last year into this year are not sustainable at these valuation i throw a whole other group in there, mel, we've seen huge ipo's in the last six months or so, air bnb, door dash, palantir those stocks are down 30, 40% from recent high and they may be comparable

crypto reeling to stocks near the session highs after elon musk tweeted that he is in talks with bitcoin miners about their energy usage. we are seeing wti coming online after a little bit of pressure, climbing the most in a month. they remain in negotiations aimed at reaching a deal to end u.s. sanctions. let's see how we are standing up for the asian open. here is sophie in hong kong. sophie: looking at a mixed start for asian markets after we see the index with a little change as the gain from cyclicals was offset by the drops we saw in tech shares. in the currency space, the yen is off after edging close to the highway we saw in february. the aussie dollar is holding onto the bounceback we saw late monday, after a falling with a steep drop in iron ore prices. we are watching minors at the aipac materials index cap a four-day drop on china's warning around commodity speculation. is the rally we have seen in metals and iron ore prices to a 2019 high. we have seen little change on the month. a little move in either direction by the most since 2019. but overnight we did see copper reclai

musk— big economy and then you've got elon musk and _ big economy and then you've got elon musk and _ of bitcoin saying i don't the guy want that— of bitcoin saying i don't the guy want that any more either because of the environmental implications of all these — the environmental implications of all these computer running creating this thing — all these computer running creating this thing. and the carbonates being emitted _ this thing. and the carbonates being emitted by them. and bitcoin has fallen— emitted by them. and bitcoin has fatten by— emitted by them. and bitcoin has fatten by a — emitted by them. and bitcoin has fallen by a lot although it still shoutd — fallen by a lot although it still should be said it is still higher than _ should be said it is still higher than it— should be said it is still higher than it was at the end of the year. so watch — than it was at the end of the year. so watch this space. it will go up and down — so watch this space. it will go up and down regular over the coming days and — and down regular over the coming days and it — and down regular

even elon musk left! gavin's mismanagement of california is inexcusable. rachel: welcome back to "the big sunday show", elon musk snl despite outrage from the left the billionaire proved about space, cars, pot and o.j. simpson. >> i sometimes say strange things but that's how my brain works, anyone i offended i just want to say i reinvented electric cars and i'm sending people to mars in a rocketship did you think i was going to be a chill normal dude. i'm the first person without burgers to host snl or at least the first to admit it one time i smoked weed on, elon musk he only smokes weed on podcast, go from podcast to podcast lighting of joint, happened once it's like producing o.j. simpson to a murderer. that was one time. rachel: i think you did surprisingly well, i don't understand why were supposed to hate him, he's very eco-friendly. >> the problem with elon musk he's the biggest corporate welfare recipient in the history of welfare, but that said he does feel really cool stuff and does really cool things, he does think outside the box and he comes

it was falling before elon musk's first word. saying that elon musk was no good so perhaps the selloff of dogecoin was a critique of his comedy chops. i think this shows, if people want to cash out on this huge rally that dogecoin has done before saturday night live, not even they dogefather can save it. i say a joke because it is not an insult to say as it was created as that. we got to a point where even robinhood crashed during the program because there was so much interest. people were even hosting watching parties to see what he said about dogecoin. mark: good morning. i am struggling to take this topic seriously. elon musk over the weekend also talked a bit of doge for the satellite. dani: i don't think this is a cryptocurrency that wants to be taken seriously which is part of why it does well. there is a communal fun aspect of trading it. the money behind it is serious but the joke part of it is important to it. this is the logical conclusion to the meme to take those going to the moon. elon musk was saying that a satellit

first elon musk complaining about bitcoin's fossil fuel usage. pboc added to the negative sentiment by reiterating digital tokens cannot be used for payment. joining us is bloomberg's crypto czar. one thing that struck me yesterday was the fact that she saw capitulation flashing on her screen. was this a buying opportunity? do you expect the price to rise? >> it could be. bitcoin went down almost 30,000, now it is back up around $40,000. it does look like capitulation but a lot of people were taken off by that. you can say it was cost, but there was a significant number of retail investors who took it on the chin. there were all sorts of twitter posts and everything going around saying keep buying on the dip. what do you use to buy the next time? definitely for people who had just a small portion or might have been saying i don't want to buy at $55,000, this could be an entry point for somebody longer-term looking to get in. manus: we do have to have a health warning which is obviously, kathy wood, elon musk, etc. all have a vested interest in re

elon musk started tweeting about doge only in december.t #bitcoin in his twitter profile at the end of january and that spurred a 20% move from 22 to 28k on january 29. we're back there this cycle, i mean it's moving fast in that move to 60k, it all feels like it's getting crazy but we're back to where we were in january so i think -- >> it seems to me if you believed in bitcoin and crypto in january, what's changed really i mean it's gone on sale for you then has there been anything fundamental that has shifted if you're not just chasing headlines and not just chasing tweets, if you believe in this or don't believe in this, it seems to me like you should still be in that camp? >> there are a lot of very smart people that i respect a great deal working in crypto currency and blockchain and who generally believe this will transform financial markets as we know elon was tweeting, and in february, he came out and said occasionally i make jokes about dogecoin and they're really meant to be just jokes and now we're back to the point suddenly it