banks and then the mid-size d banks, where would yu be putting money now >> yeah, i like the fintechs, paypalular, also square the key is that in addition to this banking they have part of their business model that benefits directly from e-commerce which we're seeing as we come out of the pandemic continued growth, elevated growth in commerce that's done on line which is a lot of what's driving the next leg of growth to like a paypal and square either from their merchants or consumer side they're being very digital first. they benefit a lot when consumers are doing digital anything, digital banking, digital commerce and we're seeing coming out of the pandemic a concern that might moderate and, in fact, we're seeing the opposite, that is continuing to grow at a very elevated pace. >> merchants are moving the payment systems through these companies particularly for online, but also the consumers are using paypal and square to pay their bills, right lisa >> yeah, that's right. we're seeing this really interesting convergence where these players in addition to that traditional sort of shopping si

a major threat looms for the sector, the right of fintech paypal's market rivals behemoths. and paypal and square have outperformed many of the banks we have join by two who will duke it out here lisa ellis, i know you're a big believer in fincheck here. >> absolutely. i used to be a big skeptic, but over the last couple years i've gotten religion that digital banks have a value proposition for consumers, particularly consumers that bank with regional or smaller banks that don't have a mobile app, they might not have good online capables they like that the digit at banks can layer in other services, marketing-related services, so they can actually do a lot of what their bank does and add more lifestyle services around that. >> and, charlie, i would rager wager a guess if the banking were to defend themselves, it will have to do with zelle let's take a pause and go to the president who is speaking about the infrastructure deal. >> i'm supposed to be getting on a helicopter to head to north carolina, which i will be doing right after this the vice president and i want to lay o

weeks, we have a range of these large mega cap names like adobe, service now cloud services, paypal, fintecheading technology, including bigger gains in companies like micron, western digital, and applied as well, which are some of tech's biggest laggards so far in june. one of the e ttfs that tracks those things is still trading around 3% shy of its february 16th record highs because names like intel and micron and universal display have lagged over that span, maybe three months or so intel is, by the way, down more than 10% during that period as well there are outsized gains, nvidia, of course, up 45% in three months, pacing for its best monthly performance since august also asml holdings, among the outperformers in recent months technology a big name for, but of course, the subsectors or industries like semi-conductors that are driving a lot of the action back over to you guys. >> a great breakdown, dom. thanks so much >> meantime, amazon's prime day event was a hit, and not just for amazon online retail sales for all sellers, $11 billion, according to a new report from adobe analytics. t

paypal. panic buying maybe fintech should have its own aisle then there are the junior growth stocks, smaller and faster growing than their senior components there is, for instance, by these types are roaring. there is twilio. there is roku, which is the cord cutting kingpin and crowd strike and etsy, the online market for hand crafted goodness based in brooklyn and docusign a way to close deals after the pandemic the stocks are beloved by cathie wood with incredible year in 2020 but struggling in 2021 until recently often she seems to keep these stocks by herself. now, i am not against fang and friends. i've been a huge supporter of the senior growth stocks especially amazon but i'm beginning believe it's time to examine the stocks in the aisle where people slip on copper and lumber and iron because those are going down if you think as i do that the fed will keep the fires going, you want to own a steel stock or heavy machinery play cleveland cliffs is down $2 if caterpillar comes to 200 let's buy it i sanctioned energy stocks because many of these companies changed their suboptimal ways, ch

two fintech names in focus this morning thanks to da davidson out with a new note, bullish on both paypal darlings of the space. the firm says that paypal's recent pricing initiative puts the stock in its own elite peer group calling the implementation a water shed moment, the move, paypal's investment in credit cards and crypto and accelerated adoption because of the pandemic all behind the buy rating there on a price target of $325. then there is square mr. d.a. calls it fintech disruption at the finest. the popularity explosion of cash app along with heavy margin upside, the chief catalyst there also a buy, price target of $275 they say that jon, the story has never been better when it comes to paypal and keep in mind shares have risen some 70% the last year. paypal now more than two times the market cap of goldman sachs and square is approaching it at nearly $110 billion-dollar market cap today. >> carl, pointing out shares are higher today in a couple of different things you plug in tesla is up again more than 5% and so is peloton. you get somewhere in a tesla, the peloton is pretty

fintech stocks, right, pete? tell me, why would i want to buy one of these banks when i can buy a square or a paypal and i have jamie dimon, you know, yesterday talking at this event, really sort of, you know, being self-critical of the firm. we could have done square. it is right in palm of our hands, right in front of us, but we didn't. >> right >> we didn't have the imagination at the time or whatever we just didn't get it done that's an indictment in some respects of what the future of banking is going to looklike, so why wouldn't i buy a sofi or a paypal or a square over any one of these nameseven if they're allegedly cheap given where the yield curve currently is >> yeah, you make a lot of great points, scott, and i don't disagree with you. but stephanie is 100% right. if you go back to november when financials really started to take off to the upside, i think it makes total sense we have come to a pause. we came to a pause after the technology stocks had tin credible run and then suddenly we hit november, december, they hit the pause button and have been on the pause since for the most part when we talk about

paypal and the list goes on and on. our acquisition of galileo gives a platform what we call aws or fintech a huge advantage, and givingfferentiated products sooner than anyone else a factor in the industry and we'll be prudent looking at different strategic choices. we watt a small company in hong kong for $20 million that became the corpus of what we've launched in hong kong called sofi invest and an experience strategy. similarly, gal ileogalileo. it's an important element of the strategy. >> congratulations as we continue to watch your progress. quite a day for you guys appreciate your time great seeing you. >> thank you, carl appreciate it. thanks for having me. >>> up next, why elon musk says tesla prices might be going up soon. >>> and check out the best performers on the dow in may as we kick off a new trading month. dow chemical, jpmorgan chase, goldman sachs among them. >>> a lot more "techcheck" ahead. stay with us. o start - or too . ♪ ♪ wealth helps you retire. worth is knowing why. ♪ ♪ principal. for all it's worth. so it's another day. yeah- that's what most people think. but in business it's never just

share >> a somewhat bigger picture if we look at how the various fintech payment companies are valued in the stock market, square and paypalt's implicit in terms of how much of the bank's traditional business is eaten. what are you doing to try to forestall that position against it >> i think this is going to be one of the most exciting stories to talk about. this story was in trend precovid covid accelerated it all i think the gap between the winners and losers in banking is going to widen you've heard me say it before. i think some of the best fintech companies in the world are bank of america and jpmorgan for example. very sophisticated in other cases we see other bangs adopting many of the digital approaches they're working hard on their expense base and using less branches to make themselves more efficient. so i think that every bank is going to have to figure out where they fit into this, andbacks that don't think they can get there alone, that's another reason for consolidation. and we've seen an acceleration of consolidation recently in the banking industry, and part of the reason is we've got a low revenue growth

fintech. sofi will be a name for the future it is similar to why i love market access where i sit on the board or paypals or creating efficiencies, however you want to look at that, are names i want to be in and that i believe in buying sofi today, under 22, was something that i think will pay off in short order, but i also think it is a long-term play >> yeah. the jpmorgan and citi thing, talk me through that what's up with that? >> it is funny, because people were kind of screaming about, oh, it is down today, and where the banks are. but i actually sold on 6/1 i don't know if you have a chart, but where i sold it hasn't gone back to those numbers since. i sold jpmorgan around 166 citi, around 79.55 but to be clear, i would get back in. the leadership at those entities are incredible the balance sheets are incredible i mean jpmorgan this morning bought nutmeg. why? because jamie is a smart man he wants to actually get jpmorgan prepared for where the puck is going, to use your earlier analogy. i mean it is a $5 billion asset manager in the uk, so, honestly, if we get more pull back on jpmorgan i'm back

paypal raised some rates. very, very small i point it out because this morning they talk about how important it was, barclay's last week i want to contrast the banks with the fintechwere weaker but the banks gave up the ghost. i ask you, can you imagine the banks putting through some price increases? they're busy in a race to the bottom they don't want to lose it america's best is doing quite well a lot because they have adopted -- they really pushed for small business i'm just saying, david, as between jpmorgan and paypal, people want paypal. >> they do. >> they really do. and i think it's interesting because jpmorgan is a great bank they're doing really well, but they traded -- jamie dimon -- oh, you weren't here jamie dimon last week saying, you know what, i know it's disappointing but we didn't trade as well. it was like he dropped a bomb on people's heads it was a bomb. like an h-bomb and people were like, i didn't know how disappointing it was. >> no trading here at paypal. >> right, right. so this is now the pure play i don't want -- people don't want exposure to credit risk they don't want exposure to trading. so they buy paypal. >> on that desk,on donahoe