the ace. >> at the chance to pack their place crawford's kate rooney, she joins us live now from the akland coliseum for the first full-capacity game of the season. lot of anticipation for this one. hi, kate. >> we've waited a long time for it. and you can call it the end of the new normal that we've been talking about for the last year and a half right tonight at the coliseum. no more pod, seating no more social distancing. and for the first time since 2019 the crowd could be 10's of thousands strong. in addition to a bigger cheering section. full capacity means a couple more changes previously off-limits areas like the tree house and championship plaza will once again be open to fans. also for the first time this season. the game is open to non california residents. there are still some protocols in place. however, masks are strongly encouraged all transactions transactions rather will still be cashless and concessions orders are going to be placed mobley. as for the players, they did get a taste of playing in front of lots of fans this last weekend during the bay bridge series the

kate rooney has a look at the meme stock movers. and sara is tracking campbell's soup mike santoli start us off. >> the s&p 500 -- you mentioned may 7th is when we hit the last record high that we closed at, 4,232. it is basically there. beneath the surface, energy is strong bank stops pressured by drop in yields technology stocks slightly outperforming the s&p since it last hit that all-time high. that's been the push/pull that's kept the overall index in place. mentioned tomorrow we have the thursday cpi number for may coming out with this flare-up in inflation expectations has cooled off a little bit look at the market implied ten-year inflation rate, otherwise known as the inflation break even this was a month ago right here that's the peak, above 250 it is around 235, 236. it's still above the average for the past couple of years but it shows you that the market at least is not as postured for a flare-up in inflation as it was back then and in fact it accounts for part but not all of the drop of the ten-year treasury yield over

that's kate rooney. that sports. we'll be right back after the brea we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. ♪ usaa ♪ >> for the first time in the pageant's history. the title of miss nevada usa has been won by a transgender woman. ricketts was crowned the winner. at the south point hotel casino in vegas. the 27 year-old won the miss silver state pat usa pageant in march. that's preliminary competition for the miss nevada usa pageant. she be 21 other representative at it in the miss usa pageant that will be held november 29th enrique as has been participating in beauty pageants since 2016. and a trailblaz

i'm kate rooney. >> kron 4 sports. >> loon.e one of the elder statesman on this warriors. team and in the process become one of the more reliable players on the roster. you can always count on him. well, he'll be around for another year because he picked up his 5.1 million dollar player option today, lou was around for 2 of the warriors, 3 championships in a 5 year span this year. he started 34 games for the does carmelo anthony has won the nba's inaugural kareem abdul-jabbar social-justice champion award. the nba said mello was selected for his dedication over the past year to pursuing social justice and advancing abdul-jabbar is life mission to engage in power and drive equality for individuals and groups who have been historically marginalized or systematically disadvantage as the winner. anthony was able to select and to select an organization to a cheat receive a $100,000 contribution on his behalf. the warriors won to anderson. he was a finalist for the award to. but he was still receive. 25 k from the nba to donate to a

our own kate rooney joins us with more on that story. being lost just how bad have the shorts been burned this week. >> dom, great to see you, good morning. yeah, it really hasn't been a great week to be betting against this stock or other meme stocks for that matter. shares of clover health, this is the medicare insurance startup, jumped 84% on tuesday. it's the most mentioned stock on wall street which has 10 million members. one of the things that attracted yolo or you only live once traders, you see investors betting against the company that try to get together and prove them wrong reddit traders though this tactic pretty well after gamestop in january. and this group has been encouraging each other to take advantage of that short interest in clover. about 44% of clover shares her sold short that's according to the data from s3 partners, that is almost double than what gamestop has. they've been adding to the position over the last 30 days, the amount of clover shorted went up 25%. shares rallied on tuesday. short-sellers lost an est

records broken and trading halted again and again kate rooney on how it all happened >>> israel meetss fifth election in two years. it means big change in leadership what now for the caretaker prime minister benjamin netanyahu >>> cruising in the controversy. what the conflicting rules from the cdc and florida's governor means for the companies and anybody who wants to set sail as we approach the bottom of the hour and the top othe news from cnbc. cnbc. i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories. >>> meme sto madness, amc edition. look at this chart amc surged more than 90% in the single session to $63 a share. the move so dramatic, the new york stock exchange halted trading several times. when you look at the year, the rise is even more dramatic the movie theater chain in this case up 3,000% cnbc kate rooney, i know theaters are back open but this seems incredible what's happening here? >> if you're conf

kate rooney is looking at that side of the story, but let's begin with eamon javers with the latest onard just today directly from colon kwan pipeline's ceo he testified before congress saying his company reached out to law enforcement within hours of the attack and the decision to pay the ransom was the toughest decision of his career, but necessary for the good of the country. >> we already started to see pandemonium going on in the markets, people doing unsafe things like filling garbage bags full of gasoline oar people fist fighting in line at the fuel pump the concern would be what would happen if it had stretched on beyond that amount of time >> reporter: yesterday, we learned a portion of the ransom has already been recovered by law enforcement. this coming in from the department of justice, yesterday, that these seized d 63.7 bit coins ransom payment, and tracked the bitcoin transfers. the fbi we now learned has the so-called private key to an address where those proceeds were transferred now, how exactly the fbi acquired that private key is not known publicly, and the fbi decl

i'm kate rooney. yeah. if we have to suffer through the nba postseason without the warriors.ell, we've got to at least hope for good games, right in the west. the first round between the clippers and the mavericks ended up going the distance with a survive and advance game 7 today clippers hosting the mavericks at staples center. now, this was a weird series where the road team won every single game heading into today. the game in the 1st quarter. luka doncic's. he's been so outstanding. this entire series 46 points tonight and drains. the 3 here. dallas trailed by 8 at the half. but took a lead in the 3rd quarter. but then the clippers went on a run kawhi leonard with the jam part of a 24 to 4 run for l a under to play clippers up 10, leonard finds marcus morris in the corner. >> and la could feel it. then. okay. the final score. one 26 1.11. they're just the 5th team in history to win a series after losing the first 2 games at home now heading to utah take on the west top seed in the jeffs. all right. game one of the eastern conference semis 76 ers, hosting trae young and t

. >>> let's go to texas where they're embarking on this experiment kate rooney is here with more for us kate >> kelly, bitcoin mining facilities like the one near rockdale, texas, take a lot of energy you can see these supercomputers behind me. they're stacked about 20 feet in the air. the hallway is about 3 to 4 football fields long a lot of people in texas are wondering a little bit worried here about what this means for the already fragile energy grid. miners, though, say they shouldn't be worried energy here in texas is among the cheapest in the country. texas operates its own power grid it's deregulated but it has been proven to be pretty fragile during peak demand the state saw rolling blackouts in the winter and sees the same during heat waves. miners say they shut down operations at times like that. we saw it here yesterday and because they buy energy on a long-term contract at stable prices they can often sell it back into the market at a premium when the prices spike. they say they are not competing with folks at home trying to run their air conditioning miners get a notific

kate, thanks very much for joining us today, kate rooney in san francisco.xchange." coming up on "power lunch" morningstar's manager of the year the winner will join us after this quick break labradoodles, cronuts, skorts. (it's a skirt... and shorts) the world is going hybrid. so, why not your cloud? a hybrid cloud with ibm helps bring all your clouds together. that means you can access all your data, modernize without rebuilding, and help keep things both open and secure. that's why businesses from retail to banking are going hybrid with the technology and expertise of ibm. >>> good after knoop noon, everybody, welcome to "power lunch. we start with a big week for the dow. the best in three months the nasdaq higher, not up as much as the dow. we'll talk to an analyst who is cautious on chips. >> fading the rally. >>> and travel demand has come back so fast american airlines can't keep up. it doesn't have enough workers >> worker shortage everywhere. big-name t

i'm kate rooney.now we have that story and so much more in a full 30 minute special on our website. just use your phone to scan the qr code on your screen. you can see all the stories from across the bay area celebrating pride month. time now to check in with newsnation to see what they are working on tonight. tonight on the dollar for to search for survivors in the florida condo collapse is becoming more difficult. how rescue workers are identifying the victims. plus. >> paying college athletes like the pros. more states are joining the movement. how are players going to get paid and how it could change college sports forever that more tonight on the down the report. 7, 6 central on newsnation. now here's morning news with a look at what's coming up tonight on news nation. >> thanks, joe. tonight on newsnation prime it was a night that changed his life forever. i'm angry. i could be dead. they are my friends, my neighbors or did hear from a survivor of the building collapse near miami. his advice for

i'm kate rooney. and this story was part of our pride special earlier this month. >> don't forget you can find the entire 30 minute special right now on kron 4 dot com just scan that qr code with your phone. it will take you right to that special pride page that we have with stories from across the bay area about how people are celebrating pride and some special profiles to on outstanding lgbtq leaders and voices. we'll take a break here at 9.38 coming up next on the kron 00:00am morning news, one expert believes the young shark is to blame for biting a man. >> in the waters near pacifica over the weekend. we'll have the latest on that attack. coming up. and we are looking at a mix of cloud cover and sunshine reappearing across the bay area. you can see some of those clouds right here over sfo still. >> temperatures later today. prices warm as the 90's for some of our inland spots only for one more day talking cooler weather in your forecast. >> and we still have the hot spot in berkeley, 80 eastbound

kron four's kate rooney shares his story. for rick welts. love affair with the nba started early. the warriors exact got his start as a ball boy with the seattle supersonics at 16 and went on to spend nearly 5 decades in the league before announcing his retirement earlier this year. >> but from the beginning, wealth knew there was something else that made his career unique. >> he was. there was nobody who have gone life with an experience like mine who had been out and who, you know, i could look at this a while. that could turn out pretty well. so that was always just a big unknown. personally wealth was out to those closest to him like family and friends. but as he ascended through the ranks of the nba. he kept his sexuality a secret professionally. >> and that's what they did that we can because i didn't want them to ask me what i've done that weekend. it wasn't i was never not myself, but i never was my complete self. >> in may of 2000, 11 that changed. i lost my father. my mother been diagnosed with lung cancer 14 year relationship that

i'm kate rooney. >> this story was part of our prize. special segment and you can find the entire 30 minute special. now on kron 4 dot com just use your phone to scan the qr code on your screen. our pride page has stories from across the bay area on how people are celebrating pride and some special profiles on outstanding lgbtq leaders and voices. this just in me about his campaign is celebrating her first place finish in the special election primary for california's 18th assembly district. she released a statement that reads in part, quote, i'm honored and humbled by the outpouring of support from the diverse coalition. we built over the course of this primary campaign. we did not reach the 50% threshold tonight. momentum is on our side and we are ready to continue reaching out to earn every single vote to win in august. that special election to fill the vacancy will be held on august 31st. next at 10 public safety power shutoff prevention what's being done now to try and keep the lights on in the north bay this fall. >> and temperature

kate rooney shares his story. for rick welts. the nba started early. >> the warriors exact got his start as a ball boy with the seattle supersonics at 16 and went on to spend nearly 5 decades in the league before announcing his retirement earlier this year. but from the beginning, wealth knew there was something else that made his career unique. he was. there was nobody who have gone life with an experience like mine who had been out and who. >> you know, i could look at this a while. that could turn out pretty well. so that was always just a big unknown. personally wealth was out to those closest to him like family and friends. but as he ascended through the ranks of the nba. he kept his sexuality a secret professionally. >> and that's what they did that we can because i didn't want them to ask me what i've done that weekend. it wasn't i was never not myself, but i never was my complete self. >> in may of 2000, 11 that changed. i lost my father. my mother been diagnosed with lung cancer 14 year relationship that was breaking in

. >> kate rooney has the details coming up. also, a new warning for parents. the baby gliders that are being recalled after 4 deaths. >> the surprise is recalling 2 of its baby gliders after 4 infant suffocated. according to reports for infants have died in the 4, 1, rock and glide soother between april 2019 and february 2020. the infants were reportedly placed unrestrained on their backs in the glider and they were later found on their stomachs. an 11 week old from colorado. a 2 month-old from nevada, a 2 month-old from michigan and a 4 month-old all died. >> dog food products made by sunshine. mills are being recalled because of potential salmonella contamination. and we have specific products. they're listed on your screen. the best by date can be found on the back of the packages. the company's sprout sporting dog food recently tested positive for salmonella. that was during a routine test. the company says it has not had any reports of illness. if people handle the dog food. oh, and don't wash their hands. they could also be affected. still ahead, amazon

kate rooney has a look at meme stock amc. mike, start us off with the broader market. >> the s&p 500 starting june the way it spent most of may which is really minimal index moves at the top line very close to all-time highs but not cracking through then the majority of stocks higher and volatility pretty low. you see this that's when this started about mid-april. there's an old wall street adage, don't short a dull tape the market tends not to give you that many chances to sell the all-time high. we'll see if that holds up right here because about six years ago we were exactly half this level. we spent months at 2,100 and actually it did finally fail the nasdaq has consistently been the weak point it's up off the lows but we're trading at a level on the nasdaq 100 that was first reached back in february. in fact this february high has sort of not been exceeded except for that one little burst higher back in april. so it's still struggling if you look at the year-to-date drags on the nasdaq 100, it's apple, amazon, tesla, net

kate rooney has the details for us. >> yeah, this was a tough day for cryptocurrencies the u.s.k some fears about security and privacy with crypto but this had to do with getting the password of those hackers, not with bitcoin's actual network. analysts tell me there's been a wave of momentum sellers, fear of regulation around taxes and the environmental impact has also shaken confidence. the cryptocurrency is down 50% from its all-time high, trading around the $32,000 level today other major cryptocurrencies, down about 10% today back to you guys. >> kate rooney, thanks so much for that one shot. there was a guy who had 200 million and forgot his password and had to ask the fbi for cracking the password going forward. steve weiss, my question is if we do see this broaden out and get much worse for bitcoin, does it hurt equities or is it irrelevant >> i think it's irrelevant people trying to find linkage. it's completely irrelevant cryptocurrency is a very narrow asset class. i'm being generous when i say asset class. it has no utility as a currency. it would be ludicrous, you g

i'm kate rooney from cnbc. wall street is set to open flat to slightly higher this morning after a relatively calm session yesterday. the dow and s&p 500 closing near the flat line with the s&p still chasing that record high it reached a month ago. investors may be waiting for the next reading on inflation to determine whether pressure from higher prices is just temporary as the economy recovers from the pandemic. >>> the consumer price index for may is out tomorrow, economists expect prices to rise more than 4.5% from a year ago and in april, consumer prices rose at their fastest pace since 2008. >>> and chipotle recently raised menu prices by roughly 4% to help cover the cost of wage increases. executives at the burrito chains believe other restaurants will feelinflation. the cfo says the price increases were worth it to help boost wages and chipotle is getting more applicants as a result. >>> thanksgiving is still months away, but retailers aren't waiting to announce their holiday plans. best buy confirming

kate rooney with a preview. >> oracle's recent stock performance has set the bar pretty high for thisport coming out in just a few minutes the quarter is all about the cloud and the speed of oracle's recent transformation. that company has built a public cloud business called oracle cloud infrastructure to compete with amazon, microsoft and google analysts say oracle needs to show more acceleration on that side of the unstory to justify the stock price. oracle has been one of the biggest performers in tech this year, up about 25% since january. back to you guys. >> kate, thanks so much for that one. 1.4% slippage. two minutes to go in the trading day, mike. what are the internals telling you? >> if you look at the new york stock exchange, about one to two positive to negative stocks. it's firmed up a little bit so still this undertow of selling has been in there below the surface for a while now. take a look as we look at commodities. the chart of crude oil is distinctive. that's just an amazingly steady uptrend in the last couple of weeks. it looks like it's a trend following systema

kate rooney has the answers. still to come. safely shop floor and decor your way! comfortably explore our incredible selection. with safe in-store guidance, or order online, and pick up your products curbside! come discover the perfect floor at the perfect price however is perfect for you. explore floor & decor in-store or online. [hippo groans melodically] [iguana belts major 3rd] [gator reverb] [splash] [singing indri sings] [elephant trumpets] [buffalo punish timpani] [cassowary crescendo] ♪ [goat does a sick vibrato] ♪ for your health tonight. nutritionists say that in addition to hunger pains. >> skipping lunch can cause low blood sugar along with irritability almost guarantee you that you consume the majority of your calories in the evening time scientists say that it can also wreak havoc on your waistline and your health and could even cause some problems. sleeping nutrition is also recommend that you get away from your desk to eat your midday meal. clearly they don't work in likely never happens. that's true. >> vegetarians or pescatarian zy less likely to

kate rooney has the details coming up. when a truck hit my car, the insurance company wasn't fair. i didn't know what my case was worth. so i called the barnes firm. i was hit by a car and needed help. i called the barnes firm, that was the best call i could've made. i'm rich barnes. it's hard for people to know how much their accident case is worth. let our injury attorneys help you get the best result possible. ♪ the barnes firm injury attorneys ♪ ♪ call one eight hundred, eight million ♪ >> and on expected to launch its new sidewalk program tomorrow. it will allow your wi-fi network to be shared with your neighbors unless you opt out actually doesn't let you allow it just does. anyway without your if your neighbor if you and your neighbor both have the popular ring doorbell. the device will choose a stronger wi-fi signal to use meaning your neighbor could be using some of your bandwidth techs at experts are suggesting that people do opt out of this program saying it poses some serious privacy concerns. so joining us now live geoffrey fowler, a technology columnist with the washi

kate rooney reports melvin did it with class and grace. >> 7.99. that's the number. that's bob melvin into the mlb history books forever. when the a's beat the mariners on june first melvin past tony la russa to become oakland's all-time winningest manager. the celebration that night was a small one we had some champagne in the in >> clubhouse just had that enjoyed >> go miles. definitely not a person that wants to make a big deal out of something about him. so we kept it low key form. >> but loki isn't usually help pro team celebrate milestones. so this week when the a's returned back to the coliseum from a road trip. melvin was honored with a surprise pre-game presentation and videoboard tribute he reacted with his standard humility. what happened a few days ago. you come home and you don't really think about it a whole lot men. >> and then you get something like that. and then. you know, players afterward and so forth. so it's lingered on a little bit longer than i would prefer. but. >> you know, to see. so many guys that are really close to me and were huge in my

i'm jason dumas says this is kate rooney kate, it's been a while.nk it's been over a year jason. i know the pandemic separated us. we had different schedules, but we're back on set together. and it was a crazy weekend baseball. it was. i'm glad that this was the weekend. we get to be back together and studio. exactly. the latest installment of the bay bridge series did not disappoint 3 near sellout, crowds. 2 great games in a pitching gem in the finale. let's get out the oracle park for game 3. the giants going for the sweep of their bay area. rival over at oracle. i like anderson, barry bonds and for sending a get right to work. matt chapman. he fights off inside to center field. elvis andrus scores. so does matt alston. it's 2 nothing oakland chappie on a 15 game hit streak. meanwhile, cole irvin he was dealing for 8 here. he strikes out buster posey aca feel that fan from here down in the 4th, the a's continue to cling on to a 2. nothing lead. yeah, but oakland, they're going to break it open here in the garcia. he's a former giant. you remember

kate rooney explains kate, end of an interesting era. >> that's right.mond hands, diamond parachute. love the analogy gamestop's outgoing ceo george sherman may turn out to be one of the biggest winners in this meme stock era announcing his successor a former executive takes ceo job end of the month, and d.espite him pushed out, he is set for a huge payday if he sells. sherman's exit agreement calls for hiss 1.1 million gamestop shares, and sherman shares are worth more than $260 million big payouts for departing executives aren't unusual, guys, but usually tied for performance. gamestop's financial performance has not quite cut the pace with its 1400% rally in the stock this year. sherman joined gamestop back in april 2019 a few months after the company failed to find a buyer gamestop's fifth ceo since 2017 and he also pledged to turn the company around and the company reduced costs and debt while there, but revenue fell by more than $1 billion in his first year alone, and losses topped $680 million in the past two years combined guys, sherman's not alo

could be creating a major power shift over the past two months, bitcoin is down, ether is up and kate rooneycond biggest cryptocurrency and ended the month of may in negative territory but it held up a lot better than bitcoin. ether was down 12% for the month. bitcoin lost more than a third of its value since crypto winter in 2018. so far eithther is up 900% this year bitcoin meanwhile is seen as a store of value there's also talk of shifting the ethereum mining process to a less energy intensive period known as proof of stake. there's been headlines weighing on bitcoin that have not hit ether as hard. for example, over the weekend the financial times reporting that u.s. regulators are taking a closer look at crypto. bitcoin didn't really move on that news. analysts say that could be a silver lining and signals some deleveraging it may show bitcoin finding a bottom or at least a new resistance level guys, back to you. >> tell me a little bit about ether and its blockchain i didn't know this, maybe you can educate me does bitcoin have its own blockchain and other currencies have their own blo

kate rooney has a lot more for us kate >> hey, david, good morning.w this morning after a report that china has cracked down even further on cryptocurrencies. bitcoin dropping to about 31,000 this morning it's back up near 32,000 here, down about 7% right now. ethereum falling, it was down 8% this morning as well the first part of this year, the people's bank of china today saying it urged alipay and major banks trestrict crypto trades and ordering a halt on bitcoin mines in another region in china over the weekend and it follows similar moves from china in inner mongolia and other reigns and more than 90% of china's mining fas kpasty is shut down there have been calls from beijing recently to clamp down on mining. this isn't necessarily new we have seen this pattern before and they have cited worries over the massive amounts of energy that it takes to mine bitcoin. one thing to point out here that analysts are telling me this this morning shesh juan is known for hydropower is this more about competition and bitcoin as a threat to the digital yuan a l

kate rooney has details for us she is back at cnbc's one market in san francisco kate >> hey, david.e market. we heard mentions of cryptocurrencies from jerome powell and others at the federal reserve. i am told this is a first. a fed official publicly calling one out by name as a systemic risk boston fed president eric rosengren mentioned tether friday, pegged to the price of the u.s. dollar known as a stablecoin he describedit as a potential dom i know in short-term credit markets. >> there is a financial stability concern that a future crisis could easily be triggered as these become more important sector of the financial market unless we start regulating them and making sure that there is actually a lot more stable stability to what it being market today the general public as a stablecoin. >> this digital kcurrency the third largest in the world it's mostly used by traders to get in and out of boyle and otherer cryptocurrencies opex changes. backhand by those who might want price stability, but also might not have a u.s. bank account it's not 100% backed by dollars in a bank acco

. >>> welcome back a new digital currency broken in to the world as tether kate rooney is here with more and of course first quarter of the year according to new research and on an average day tether sees more volume than bitcoin or ethereum and unlike bitcoin its price didn't change and the fist of what's known as a stable coin and the price is pegged or tethered to the dollar but not 100% backed by u.s. dollars in a bank account but mostly dollar-like asets of short term debt and according to jpmorgan the seventh largest of commercial paper in the world and there's controversy. it was founded by bit fnx and an attorney general in new york accused them of lying and moving hundreds of billions of dollars between companies to cover massive losses the case was settled in february for about $18 million. the ag shut down that cryptocurrency in new york this is the coin of choice for traders. i have been talking to folks that use it. you want to buy bitcoin on the weekend your bank's not open transfers take multiple days and a popular option for international traders who want the stability of

kate rooney has the day off and that's what folks.t was a beautiful day here in san francisco for some baseball on father's day nonetheless shout out to all the dads out there doing a great job. let's go to 3rd inking for the giants series finale against the cap was old squad and a nice family photo here. happy father's day pops. bottom of the first mike yastremski hit a grand slam earlier this weekend. he goes deep this time is in of comey's co. 2 run jack. 2, nothing giants just like that. but guess what, next. batter warmer flores says anything you can do. i can do better. let's go back to back. how about that? 3 to nothing giants flores had 2 home runs on the day. go to bottom of the 3rd, the homers kept coming. brandon crawford deep to center field. that one is out of here to run jack his 16th of the season. it's 5 to 2 giant. got to think crawford's an all-star this year right. all right. bottom of the 5th floor as again. way back in gone. its second home run of the game. he was 4 for 4, 6, 2, giants. all right. here's sammy lon

means it's a crypto pegged to the price of the dollar, but it's raising some alarm bells at the fed kate rooney francisco, with the story. >> reporter: hey, tyler, we have heard jerome powell and others mention cryptocurrencies before a fed official calling it out a systemic risk. he was talking about tether in a speech on friday, the controversial cryptocurrency pegged to the u.s. dollar, and described it as a potential domino in short-term credit markets could easily be triggered, as they become the more important sector, nels -- making is a more stable stability to what's being marketed to the stable market. >> this digital currency has quietly risen to the third largest in the world mostly used by trait ors and on exchange by some but it's also not backed 100% by dollars that was part of the risk potential that rodsen kranz talk about. tether is monthly backed by dollar leg assets, including short-term debt. according to jpmorgan. tithe ser now the seventh largest holder of commercial paper in the world maybe different countries are talking about digital currency what would that do to they

kate rooney with a look at what is behind it >> the settlement had to do with a few different issuesod spanning the past few years. most recently it had to do with the startup trading outages back in march of 2020 also approval of certain customers for options trading and finra says robinhood used misleading communication for certain trading practices. robinhood neither admitted nor denied these charges >>> the fine itself was $57 million. finra ordered them to pay almost $13 million in restitution to thousands of clients they highlighted widespread and significant harm suffered by those customers and says the size of this fine reflects the scope and seriousness of robinhood's violations in a statement, a robinhood spokesman highlighting some of the changes they've made and talked about those changes to the business saying, quote, the startup has invested heavily in improving platform stability, enhancing our educational resources and building out our customer support and legal as well as compliant teams. they are glad to put this matter behind us. guys, this is not robinhood's first

kate rooney with a look at amc's surge and what's driving today's move and steve liesman breaking down the beige book highligs. mike start us off with the market which looks boring next to amc's stock. >> it has been a prolonged pause as measured by the s&p 500 i have been talking about going back to april 16th when we first madehe approach of the 4,200 level. for the last days it has been tethered to that point in fact the morning high, it was the peak for the s&p for the day. alsohen amc shares started to go north we talked about before when volatility comes from the direion of the meme stocks sims the broader market has hesitation that's maybe what we are seeing. look at the two ten-year yield curve spread it is pausing a little bit have had bullish moves. but a pullback here. the long end, ten-year compreed a little bit from the highs. this goes back to 1980 people would say look this is maybe a mid-cycle type move. usually when you get late in a cycle ward a recession you start flattening out we are not even in the full steepening mode. but this is the case f cyclical stocks and f

cate rooney is live in rock dale, texas, to explain. kate, tell us what you found i see lots and lots of servers behind you >> reporter: there is lots of servers. you can probably hear the buzz of the super computers here, they're stacked about 20 feet in the air. in this hallway, it is four or five football fields long. they're worried about what more buildings like that could mean for the texas energy grid. the miners say they shouldn't be worried. energy in the state is among the cheapest in the country. texas operates its own power grid, it is deregulated, but it is proven to be pretty fragile during times of peak demand, rolling blackouts in the winter, sees the same things during heat waves like we see now. they say they shut down operations in times like that. because they buy energy on long-term contracts at a stable price, they can sell it back into the market when the demand strikes and there is a premium for prices since they buy that energy in bulk, years ahead of time, they say they're not competing with texans at home >> so, in

kate rooney is here with us tonight. so expensive to mine bitcoin, and where is everyone moving >> the big reason it's so expensive is the massive amount of power to create new bit counsel. this is a lucrative business with each cryptocurrency worth about $40,000. they get rewarded with roughly six new coins, so at today's prices, worth a quarter of a million dollars. in order to make a profit, they had swapped to places where the energy is cheap. experts tell me that's lineally to chin now that they're being kicked out of china, where the main sort of power there has been mining, coal mining in particular in the u.s., texas and wyoming are seen as the two big hot spots, thanks to wind and solar energy, and cryptofriendly legislation as well. canada and iceland are also on the list kazakhstan is becoming a global hub. they're also looking for certainty. >> cheap energy is the lifeblood of bitcoin miners, so they're going to chase cheap energy, but also looking for political stability. they're looking for assurances that

hosts its annual shareholder meeting today with ryan cohen expected to be voted in as chairman kate rooney has more. >> good morning. a board overhaul going on at reddit favorite gamestop today the big vote on the table, whether or not to make ryan cohen officially chairman of the board. there is not a lot of pushback expected in grapevine, texas, today where that meeting is happening. take a look at that live shot that's expected to start shortly. ryan cohen is not expected to be there in person but he has become the face of this company despite him controlling about 12% of gamestop. most of the old board meanwhile has stepped aside. three new nominees have ties to cohen from chewy which he sold to pet smart that crowd, despite no one really looking at the numbers, analysts tell me the quarter doesn't mean much for the stock price. shares have outpaced the fundamentals since january, up more than 1400% since then and investors have been way more focused on future quarters that future includes a new ceo, current chief executive george sherman announced he was stepping down by the end of ju

kate rooney has >> in the east bay, police in fremont have been saying more jewelry snatching robberies officers have responded to 4 of these types of robberies in the last 2 weeks. the robberies took place on or so drive jamestown road. all of avenue and near all of avenue in mackay road. police say 3 of the 4 victims are elderly. the oldest is 96 3 of them are women. it seems that in each case the victims were either alone on a walk or in front of their home sometime before noon fremont police police say they have tips to stay safe, including not walking alone and not walking with jewelry on, especially during the day because the sunlight can reflects off the gold and make it very visible to would be thieves. >> new at 8. will the summer olympics still happen. this continues to be a big question as the top organizing committee made it clear today. the fate of the games will depend on the coronavirus and with the competition just 49 days away athletes and thousands of volunteers have dropped out aaron nolan reports. >> in just 49 days. the world turns to while the best of the best in a

cnbc's kate rooney is here with us in studio tonight kate, why is it so expensive to mine bitcoin andthat's a great question, shep the big reason why it's so expensive is the massive amount of power used to create these new bitcoin. so far it has been worth it. this is a lucrative business with each cryptocurrency worth about $40,000. in order to make new bitcoin, these so-called miners take high-powered computers and solve math equations they get rewarded with roughly six new coins, so at today's prices, worth a quarter of a million dollars. in order to make a profit, they had swapped to places where the energy is cheap. experts tell me that's likely to continue now that they're being kicked out of china, where the main source of power this has been mining and coal mining in particular in the u.s., texas and wyoming are seen as the two big hot spots, thanks to wind and solar energy, and cryptofriendly legislation as well. canada and iceland are also on the list they're known to use hydro power for mining kazakhstan is becoming a global hub. but while energy prices are important, they

. >>> let's get to can gamestop call is under way, let's get to kate rooney with the details. >> gamestop pouring in after-hours. the call did just start but it also just ended. it was about 12 minutes, there was no q&a, the current ceo highlighting the company's e-commerce turn around plan and successor hiring two new executives, first, new ceo matt furlong who will start june 21st he worked for amazon for nine years in australia gamestop also filling the cfo seat with another amazon executive, mike re c upero, these two hires fitting into the e-commerce strategy. not a lot more details they are complying with request for documents concerning trading activity in gamestop stock and shares of other company. as far as the numbers there's no comparison because the coverage is so thin only four analysts now cover this stock companies saw net sales grow 25% from last year on eps saw a loss of 45 cents per chair, that was adjusts. no guidance but sales in may up 20% year-over-year a little bit of a glimpse into recent performance i would bring more med l head lions, but like i glam i would brin

kate rooney explains. >> reporter: the idea for an alternative currency started 13 years ago in the financial kriping to fehr with the name satoshi bitcoin started to attract attention online by 2009 the first group of bitcoins known as the genesis block was created and an exchange was launched. the first real world transaction in bitcoin happened. two pizzas at today's prices cost more than $300 million. mount gox put it on the map and not how some had hoped launched in 2010 with a series of hacks and shut down and filed for bankruptcy protection. silk road was another mark on bitcoin's reputation just law enforcement officials shut it down after finding it facilitated transactions for agains, drugs and around that same time a few companies popped up that became key in bitcoin's evolution. coinbase brought bitcoin investing to the every day trader and bitpay allows companies to accept bitcoin for goods and services it rose to almost $20,000 by the end of the year. much of the gains erased in 2018 in what is called crypto winter. past three years bitcoin gained more acceptance on wall street

kate rooney joins us here at 11 m market 16 months since i've seen you. great conversation with nic carter what he said about tether and its usdc and circle is perhaps the crypto economy will move naturally to more regulated, more transparent cryptocurrencies and platforms. >> sort of positioned themselves as heightly regulated u.s.-based version of this. like nic mentioned, tether has become extremely popular in asian markets and it really is still the number one choice for traders looking to get in and out of bitcoin and if you look at a platform like binance or exchanges in asia, a lot of them, a lot of these traders were using tether, though someone i talked to might not want to talk about the fact they're using tether, there is a ton of controversy around it and the idea that, you know, if i need to milwake a bitcoin tra on saturday night, i see a spread or opportunity, tether is the quickest instrument to do that. >> we have been talking about this a ton the whole idea of it is velocity, right? efficiency no one is holding tether to speculate, to ma

. >> what a story, kate rooney, thank you.where it needs to bring down debt, raising capital until we're fully back to normal some could cause him a genius in the way that he navigated this whole reddit frenzy. >> well he's taken the tailwind and he's used it and playing offense. we've said it on the show, karen said it, we brought it up few times, get out there and raise capital. when they raise capital at $9 a share we applauded that. raising capital at $30 a share wherever it was at the time they did this transaction even smarter. so, and at different times, whether it's a company -- not comparing -- but at tesla when raising money and improving the balance sheet that's a growth capital story is -- again, it almost becomes self-fulfilling and gets them to the other side. i don't think a m c business is ever komackiing back the way ever coming back the way it was. the life we knew before. the broken company before covid, i don't think suddenly mends its ways. >> there's a filing in which adam aron said they're looking at loc

at the year, the rise is even more dramatic the movie theater chain in this case up 3,000% cnbc kate rooneypen but this seems incredible. what's happening here? >> if you're confused, you're not alone. amc caused a l of folks on wall street to really scratch their heads. movie theater chain has billions of dollars in debt it struggled to meet rent repayments and many of us are now used to streaming moves movies from home yet,s coming younger investors really love this name. trading communities.rom online notably wall seet bets and ceo adam aro his audience and this week he started playing to that reddit crowd in a tweet about company news yesterday, he painted amc as the little guy. he said watch out nay sayer, anc -- amc is gng to play on offense again. here we go they are rating stocks they see as a underdog, you remember gamestop, traders rushed to buy that name as sort of a turn around story for a struggling brick and mortar video game store the really stick it to the hedge funds who bet against that stock. today amc went a step further in trying to reach this new audience they launched

it's up more than 10% since february cnbc's kate rooney, this is a big day for bitcoin and el salvadorhis bitcoin fans are framing this new law as the first step into global adoption and acceptance of crypto currency and it's symbolic right now and they, el salvador's economy relies heavily on money sent home from abroad and by some estimates that makes up about 20% of el salvador's gdp that money flowing in also comes with hefty banking fees. it can take multiam days and banks are closed on the weekends and that makes it hard to send an instant payment you get why bitcoin who doesn't have a middle man and is running 24/7 might be helpful. people there could be more open to a newer form of money roughly 70% of salvadorians don't have an existing bank account or a credit card the government there is partnering with a company called strike to build this out the ceo telling cnbc today that this is a way for salvadorians to access secure financial freedom. >> bitcoin holds properties that are very important, it's censorship resistance and an open monetary network and there are no intermedi

kate rooney has highlights. coming up. >> and now kron 4 sports brought to you by xfinity. >> 2 nationally powerhouses facing off at oracle park tonight, the giants trying to create some separation from the pack against the cubs. chicago had a league best 911, record through the last 10 games. that is before they came to san francisco. >> just get along. well, these guys can giants and cubs fans hope to enjoy a nice night at oracle, bottom of the second giants down by a run. one steven duggar and he says one to right field very well hit. that's on for 2 run bomb dion show on front 3 to 2 and later on in the second 2 on for alex dickerson. >> and he takes jake arietta d to write almost the same >> no doubter giants tack on 3 more on dickerson three-run blast capping off a six-run second inning giants go on to beat the cubs 8 to 5 game 3 of the series is tomorrow. a fan showing up coors field tonight to see their team take on the rockies. we go to the top of the second opened up by a run. sean murphy hits one high

kate rooney >> take a look at this. a huge pileup caused by a thin trying to get a picture.uring the start of this year's tour de france yesterday. she leaned into the pack of riders while holding a huge cardboard sign. >> causing german cyclist tony martin to hit the sign which caused him to lose control. and then as you can see. >> aftermath right her. they did this massive pileup on the on the road there. >> police tonight. now looking for that fan because she could face up to a year in prison. martin was bloodied after the incident but got back up on his bike. it took more than 50 miles for the writers to regroup after that just saying for the woman holding the sign is a sign for her grandparents like a german saying for grandparents. >> so she you know about his being cute. she caused the catastrophe. and they can't find her, but they will they will fund or just go to grandma's where they always hide. hi debris that's where i would go. >> my house why my house and say no. think the one thing about recent that. you look how's the forecast i don't even know how to transit

kate rooney is kicking us off >> another wild week for amc closing up 10% today adding to that eye-popping 2700% rally so far this year. amc's ceo adam arron looking to make the most of it, amc sold shares to raise money and pay down debt, ceo saying they raised more than $1 billion in the past 45 days alone, as a result, s&p upgraded amc's credit rating last week. the stock is mostly owned by individual shareholders. the ceo said it is 80% retail investors, a lot of people are also betting against this name, almost a quarter of amc shares available to trade, known as the float are sold short at this point. the stock is also consistently one the most mentioned naming on is wall street and other popular reddit forums. the analysts less bullish, average price target $5.25 meanwhile the stock is trading around $60 a share melissa, back to you. >> kate, thanks, with the latest on the amc trade what's driving it tim seymour, i will go to you, gamestop was a flash in the pan, we're talking about amc above $60 and it seems like there's some sort of support even through this proxy vote. >> well, w

. >> kate rooney, thank you.ad the story i thought about kathy wood being able to replace her bitcoin holdings with her own etf eventually which she owned etfs in some of her etfs brian kelly, which is not a good thing for the other bitcoin holdings but what do you make of all of this noise >> there is a lot out there. first of all, remember kathy wood was one of the first, in fact i believe the first etf manager to put bitcoin into it when she bought the gray scale trust. i think it was way back in 2014 or 2015. so she has been a pioneer in this i think what i would make of this, this is a add to the long list of companies that now want to have a bitcoin etf, i do think we're going to get one relatively soon. probably in the next 12 months or so would be my wild guess on whether or not we have it. but i would say, if you look at what has happened in the bitcoin market, we've had a good sentiment shift over the weekend and this ads to the bullish let me ask you something that is three months ago when bitcoin was

series and in sports, the giants host the red-hot cups with the g man be able to coach chicago off kate rooney has highlights. coming up. in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >> and >> now kron 4 sports brought to you by xfinity. >> big night tonight at oracle park. 2 of the best teams in the national league facing off giants hosting the chicago cubs who have been red hot there 91 record over the last 10 games is the best in the majors. so a big opportunity tonight to the orange and black to gain some ground in the national league kids enjoy some evening. baseball for this one. school's out for the summer. we got to the top of the 3rd comes up by a run. kris bryant. grounds one. b