kate rooney has the highlights. we'll be right back after the break. meet a future mom, a first-time mom and a seasoned pro. this mom's one step closer to their new mini-van! yeah, you'll get used to it. this mom's depositing money with tools on-hand. cha ching. and this mom, well, she's setting an appointment here, so her son can get set up there and start his own financial journey. that's because these moms all have chase. smart bankers. convenient tools. one bank with the power of both. chase. make more of what's yours. welcome back to the kron. 4 morning news at times. are u now 4.45 here on this wednesday? >> yesterday was a hot one at the fans blowing. try my best to keep cool. and today another warm one. john. >> i'm going to break any time soon or this is this is our life now. actually the last day of the so tomorrow, right back down to some real cool weather. it's going to be something we can all look forward to get through this last afternoon of the heats and then there is definitely a lot of relief in sight. as for the golden gate bridge, it

kate rooney has the latest in sports. there was no clinching only whole lot of cringing in wednesday's game 5 against the grizzlies. >> the dubs last won. 34 to 95 the worst playoff loss for the team since 2014. but in pro ball as the saying goes, you've got to have a short memory. after all, the warriors do have a 3, 2, series lead. and now the contest comes back to san francisco and chase center where the home crowd will be eager to avenge the loss in a noisy fashion. it remains unclear whether steve kerr will be cleared from covid protocols in time to coach on friday. but just about 24 hours before game 6 acting head coach mike brown said he has lost any confidence in his team. >> i've been totals 3 to 5 playoff games and that's around. we're team's loss by 2030, plus points. >> and everybody's bounce back. and you know, the next game competed at a high level. i have 100% faith and our team that, you know, stuff like this happens steve says all the time real champion ships are hard to come by. and if that path to champ

shares are surging after a company reported a beat on the top and bottom lines kate rooney is back withhe numbers. >> a solid beat for affirm and credit quality looking better than expected. that was really the fear factor around the buy now pay later company. as dan just put it in a note, he calls it a sigh of relief for analysts wall street had been worried about that delinquency number. the rates appear to be flat. also a smaller than expected loss on eps. it was a beat by 30 cents. revenue was better than expected and strong growth in gross merchandise volume gmv increased 73% to the $3.9 billion also raising guidance. affirm also extending its partnership. the midpoint was below consensus but credit quality looking better than expected don't miss max levchin on "mad money" tonight at 6:00 eastern we've got the call under way as well interested to hear what he has to say about guidance. >> kate rooney, what do you think of the surge >> yeah. it takes us all the way back to monday morning, which is shocking how far this thing has moved. but it's interesting to me i think the credit q

kron. 4 sports reporter kate rooney joins us now. >> to explain. you want to see a fan base that has some animosity towards a player when brooks eventually play-in game 4 chase is going to let him have it. i would think. yeah, you said it. we're talking off camera. they're going to be a lot of handed down to the sky. a lot of people. >> not happy with the way that plane went down. they were expecting the suspension, but some questioning whether it's even long enough is the punishment that was handed down. but nba today, it's brooks will miss one game. that's this upcoming game 3 on saturday. now this comes after he was ejected for a flagrant 2 foul, which is defined as unnecessary and excessive contact against an opponent that comes with an immediate ejection from the game. and in this case, further review by the league determined it wasn't worthy of a suspension as well. we also learn more about the extent of gp two's injury today. in addition to the fracture, we already knew about his dealing with ligament and muscle damage. the set to be reevalu

kate rooney is live with us in the studio with a preview of game 5 would have been nice to just, you know, get this over and done with with the sweep in game 4. last year we go, here we go. but you know what? fortunately, there are several more chances here right in the warriors are '03 in their first shot. close out games. >> this post season, not a great stat. so where there let me explain that a little bit better. they were up 3 and oh on the nuggets they lost game 4, 3 in one on memphis. last game 5 and now missed a chance to sweep the mavericks yesterday in dallas. but maybe it's not the worst thing because now get to enjoy home court advantage, right? the worriers are perfect to chase center in the playoffs. but hey, they just can't rely on that. they've got to find a way to stop the maps from getting good shots off. that was a big part of the problem last night. dollars put down 23 point shots while shooting 50%. and that's hard to overcome. >> last night, steph curry explained how the words will look to adjust in game 5. >> confidence start early. we really do nothing to it.

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we've got full live team coverage for you tonight from all of this, kate rooney and gayle ong live for us at the chase center both inside and out. as you can see, the wind really blowing there. >> outside the chase center and amanda hari is at oracle park this evening for us tonight as well. and we'll get to him and honoring buster posey in just a minute. but first, we want to get straight. >> to the dobbs kron. 4 sports reporter kate rooney beginning our team coverage there tonight. take 8. >> hey, dan. hey, noel. yes, so far things not exactly going the dubs way. they're trailing by 8 points right now in the 1st quarter of this game. but it's game 3 of the series with the memphis grizzlies, an emotional series so far, especially after gary payton, the second was knocked out with a brutal injury in the last game. he fractured his elbow and he's gonna miss a couple weeks, at least. but we've got a shout out, gary payton, because he's done a lot for this community. that's the button. the see me wearing right now. he is up for the nba. cares. community assist award. and so we've got to d

plus kate rooney on bitcoin's breakdown.on the broader market because stocks are sharply lower for the third day in a row this is the worst three-day losing streak since september 2020 mike, it feels like one day we're worrying about inflation and higher interest rates from the fed and another day we're worrying with growth, which is a bad combo. today it feels a little like the growth concerns because commodities are down a lot and we haven't necessarily seen that, including oil. >> absolutely. today and also a bid in treasuries so it does seem as if today the concerns maybe are a little more on the growth side but it has to your point become this kind of shuttle where there's no escape from this idea that the fed could make a mistake in either direction. too much or too little tightening investors are impatient to see confirmation that this idea of a peak has some credence to it yo beyond that it's just hunting for the most wounded parts of the market and most wounded players. if you look at the tech stocks that had massiv

. >> kron 4 sports reporter kate rooney joins us live from chase center. kate. >> i grant hike after any at this game was pretty in attic of the way. this entire series has gone. highly emotional back and forth. lots of tight moments. this one tonight was absolutely no exception. but here's the good news. the warriors came through did what superstars to which is close out in the important moments of the warriors have lost tonight. this would have been a game 7 situation where they would have had to go back to memphis and try to beat the grizzlies on their turf. but instead they got it done here at the friendly confines of chase center and some of the performances tonight. we're just fantastic. klay thompson was hot out of the gate and he finished with 30 points tonight shooting just incredibly well. dream on almost had a triple-double in this game. and then, of course, steph curry also had 29 points after pretty sluggish start. >> you did with superstars do and came out in the 4th quarter and finished the game hot. hopefully that's something that he can kee

kate rooney joins us is that part of the turn-around story? price but some analysts are seeing those companies with more cash as potentially more resilient in a downturn as for the month of may we had sofi and robinhood outperforming but robinhood is the one with more cash and seen as the better opportunity. the thought is they can spend more and do some m & a they looked at more than 100 fintech companies and looked at cash relative to market cap. root was number one, that's an insurance fintech company. robinhood was number two so despite the sell-off we've seen, there could be some opportunity there. there's a lot of different variables that go into this. the sector as a whole has really been beaten down but j & p calling it a good starting point for value. the more cash companies have, the better they can weather a downturn and potentially spend more to grow we'lofi is the big outperformer that company has about 15% short interest so it could have to do with some of the outperformance here so if there is a sentiment change, you could see a

let's check in with kate rooney with what's driving the losses kate, it's not your fault. the big one is what's happening in broader markets and the fed that's driving that. bitcoin hasn't been able to decouple from tech stocks, namely the qqq which tracks the nasdaq 100 and because of that, you have fund strat and other firms now looking to equity research for signs of what's going to happen at bitcoin they're looking for a bottom of $ $21,000. they are recommending buyers for puts for downside protection and still bullish on the long-term chart and for the second half of this year. analysts at glass note point to poor sentiment, capital outflows and overall derisking in these companies. they note high degree of urgency and that's often measured by higher fees that investors are willing to pay and outflows from canadian etf so those are the only spot bitcoin etfs at this point. there have been strong inflows since november and in the past two weeks there's been a significant reversal in that trend. there's been a lack of demand across both the larger whale wallets and wha

kate rooney, thanks. >>> china is ramping up its zero covid strategy chinese officials justifying the new rules by claiming "it was necessary to reduce the risk of infection when leaving the country and when carrying the virus when enter the country." this comes as business owners from beijing are feeling the pain here is cnbc's eunice yoon >> reporter: this is beijing's shopping district. normally it is shoulder to shoulder people standing around. streets of beijing are normally busy with businesses like these, clothing stores, gyms and dining this sign is becoming much more familiar, closed, until further notice >> reporter: those are staying hope trying all kind of way to survive. this noodle cart is attempting to do business from a sidewalk customers are forbid from dine in our sales are only 5%. others lay out their whole spread outside their store front. >> we want to make it convenient for people to buy. >> reporter: even places that are open, it could be complicated to use their service. 7-eleven requires a 48-hour negative test gust to get in the door around the building we s

. >> kate rooney has all the highlights next. >> all right.elcome back to kron. 4 news at 8 o'clock. we're taking a live look right now. the bay bridge is the toll plaza. people still heading into the city tonight. not a bad looking night out there. definitely not. and tomorrow night's going to look even bet er. i think we've got we're looking at the moon tomorrow night a recent. yeah, i liked what you called it. moon. watch 20 jenny to all eyes will be on the sky. and for those of you along the coast right ahead, as far inland as you can, if you do want a seat. >> that blood lunar eclipse. let's take a live look outside right now. crystal clear conditions for those of you in the east bay over berkeley. but we are going to see the return of a grey. so right now we're tracking fairly clear, calm conditions. no marine layer even along our beaches. but overnight tonight we are going to get a stronger sea breeze and that's literally going to push that may gray into the bay area forecast bring those patchy coastal drizzle and even extending into th

our kate rooney has that for us. utives want wall street to value this company as a lot more than payments pure play ceo jack dorsey keynote is coming up here i saw a copy of that and what he plans to say here. he's going to talk about the scope of the business and says a lot has changed since the last investor day in 2017 saying according to the embargoed and early look at the keynote we got for cnbc, he said we're no longer a payments company. block is now made up of different ecosystems he's got square in there, cash app, title his big focus is the bitcoin business cfo told me this week calling square a payments company is like calling amazon a book store. bitcoin businesses only make about 5% of profit for block a big portion, according to the keynote we saw earlier, we saw an extraordinary trend toward an open trend for money transition. that becoming a reality allows our entire business to move faster globally for sellers, individuals and artists. he says given expertise with developer platforms and hardware, we

kate rooney has the details. kate. >> hey, melissa.uoia's advice i've got a copy of their 52-page presentation to founders people really pay attention to these memos. it's one of silicon valley's most successful investment firms in decades sequoia calling this a crucible moment for founders. it doesn't see the economy bouncing back any time soon. warning startups to tighten their belts in the meantime. some of the big names talking about inflation, geopolitical conflicts, limiting what policy makers can do. they say unlike 2020, this correction won't be followed by a v-shaped recovery. sequoia also warns of what they call a death spiral. companies that grow too fast without slowing spending you can see that in the chart there. they say growth at all costs is now over investors are rewarding discipline instead back to you. >> growth at all costs is over that's what the public markets have already told us, kate you've got to wonder what sequoia capital looks like in terms of where they're putting their money and how they're looking at th

kate rooney has the highlights from both games next. >> and tracking some changes overnight with the return a great find out how it's going to impact your viewing of the lunar eclipse tomorrow night. stay tuned. >> all right, 9.43, want to get you one last. check your weather forecast this hour. taking a live look out at the transamerica pyramid. it's looking pretty good out there. i think it was and wasn't a bad day out there also clear dealing with the sunshine. it was the case. >> yeah, >> you guys are just in my view. innocent today like, time to go get. let's take a look at your final forecast because we have a lot going on this weekend bay to breakers in the morning. in addition to that, a lunar eclipse sunday night. so let's get right to it. we're tracking golden gate bridge out there. clear skies out there, dry conditions. but we are going to see the return of drizzle for your sunday morning, which is just an indicator of how deep and robots this marine layer is going to be. it's even going to extend into our inland valleys, bringing much needed relief there. 5 to 10 degrees

kate rooney has a news alert for us what do we know?ching, back end software infrastructure behind everything going on with that stable coin we mentioned and cryptocurrency that are collapsing, this is halted, meaning no economic activity can go on here exchanges can trade tokens, luna and terra usd, but they're trading ious exchanges can still trade. no real economic activity, and terra is impaired. they're delisting tokens another update amid some struggles for the difference we talked about, terra usd and luna back to you. >> i appreciate you staying on top of that. ind kate, thank you. talk to jenny about new moves in the market you bought a few things. american eagle outfitters. big dividend yield, 5.7% aeo, why >> so this is an effort in preparedness and patience. we researched the retailers a couple months ago when the market started to pull them down as people were more worried about the consumer retailers traded down 50, 60 plus%. we started to look at them, saying what's reality, what's valuation, where do we go from here we s

kate rooney has that story and much more highlights coming up. >> in sports. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™ are taking a live look at spray cam from golden gate, audubon society. you can see those birds there in the nest one just standing outside standing outside the nest perched outside of the nest. i should say they're all snuggled up with their babies tonight. it's a little chilly out there. kron 4 meteorologist mabrisa rodriguez joining us now with more on our weather for cast every set. all very cute. and they had already. yes, i think they hatched earlier tonight. all that's adorable. going to top that cute. yeah. here's a look at this. a f

more on what's next for the ducks from kron. 4 sports reporter kate rooney straight ahead. >> and relieve has finally arrived to the bay area tracking widespread 60's and 70's. today we're noticing a big drop in temperatures and it's only going to get cooler for your memorial day weekend. mo welcome back by the end of the night, the dogs could be in championship contention. >> all that stands in the way of the dallas mavericks fighting for survival in game 5 of the western conference finals. >> kron 4 sports reporter kate rooney joins us live now in the newsroom with the latest. hey, k. >> i the pointed that the dubs didn't close the series out tuesday night in houston, but the silver lining is not chance to do it at home at chase center where they are so far undefeated in the postseason. but one thing the warriors haven't done well, this postseason is take advantage of close out opportunities. they haven't been able to clinch series on the first try in these playoffs. they did have the opportunity to do it against the nuggets and game 4 in the first round ended up taking 5 games, had a c

kate rooney, more on the bitcoin shake out, kate? >> crypto investment sentiment is still sour. to find a bottom on what they call seller exhaustion, a group that they call market tirists have been some of the biggest sellers lately and it points to longer term holders and usually that group is the least likely to sell and recent pressure seems to be coming from that cohort than those who bought at the top and all of this is removing some of the selling pressure from the market they also point to more crypto redemptions and showing people completely cashing out and the investor sentiment has hit a bottom bitcoin trust now trading at its biggest discount yet to the price of bitcoin investors may feel not as comfortable, and there's less hope right now for an etf approval and it is showing doom and gloom. the put/call ratio at its highest level since the drawdown we saw in may and that's showing a bit more defensive positioning and investors are watching a key bear market support level and it shows bitcoin's cost basis according to glass and that's $24,000, and a key level to watc

other crypto-related stocks underperforming the broader market kate rooney joins us even though bitcoinlly -- i don't know, is it a leader, kate, to the broader markets are we seeing that correctly it seemed to go green today. >> the way i've heard it described really explains what's going on with bitcoin. it's trading like an exaggerated version of the nasdaq. we see what's happening with high growth tech stocks. if you look at bitcoin, it's usually a couple of percentage points deepner terms of the losses or the same thing on the upside so it is minimum micking w what's going on with high tech some institutional investors getting into the markets tending to look to crypto if you're trying to take a little risk off the table so that is one of the key and fist places they look to sell. >> what about some of these stocks after this week, how do they look? including block. >> it's funny, block is trading as one of these bitcoin proxies. the results last night, they only get about 3% of gross profits from crypto trading. despite jack dorsey talking a lot about this as the long-term vision

. >> in that 2nd half, kate rooney has been at chase center all day long. she's joining us now with more details. kate, fun night out there. >> it's okay if you start slow, if you finish in a big way, right? and that's exactly what happened. tough not to have gary payton, the second out there for the whole game, but they were able you know, get some >> production from jordan poole, andrew wiggins was great tonight steph curry, klay thompson both back at it after missing some shots the other night. and so just a really overall much improved performance from the warriors, by the way, 142 points is a playoff record for the dubs since they came back to oakland. so back in the day, the san francisco words, i guess, had more. but we're going to we're going to count. this is the most points in history ever for the warriors. 142 points. pretty incredible stuff, guys. >> definitely impressive. i don't know that. i mean, like you said, it's a record. so i i was going think of ever seeing that. but clearly we have in-game. absolute beatdown. it's exactly what they need

first, though, want to check in with kron 4 sports reporter kate rooney who >> is with us with what to expect tonight, kate, what kind of nerve wracking game.

melissa, back to you. >> kate, thank you kate rooney. an example of growth at all costs, guy >> well, not to do the dog pile on the rabbit, but i think this is the tenth largest holding in the ark etf. the one before it is unity software, which is down i think 38%. and again, it's just -- you know, why do i bring it up because it's important to bring up this stock, coinbase was at $365 stock in november. it's down 87% since then they're not bad companies. i think rick heitzmann just spoke exactly that they have never been at the levels they traded at over the fall and the market is now for the first time price discovery is this growth at all costs? clearly. i don't know what experience of coinbase is. clearly i haven't experienced it, probably for the better. >> yeah, to say that they're not -- it's fine to say we're not going to compete on price. but ultimately you're going to compete on price, tim, and not just experience. >> you know, think about their core verified user base of 98 million that came in ahead of expectations how oblite

got to move on to because the fin tech stocks are also big winners after being under-performers kate rooneynything specifically that gave wall street more confidence or is it just that stocks are going up. >> and it is likely helping. but yesterday was square's first investor day and that square or block in this case is profitable she focused on unit economics. i talked to her briefly, that their outgrowing and outperforming other fin techs. so that is the focus we have some updated profit numbers. they didn't give targets for 2022 which is disappointment for wall street. it is good to see what happened last year. but analysts want to know what to expect in 2022. mizzou is estimate sh long-term profit margins could be closer to 10% and last year's closer to 12%. soa profitable the company is when there is a lot more focus on some of the bottom line numbers versus growth at this point and then bitcoin is still the big story. that is what jack dorsey talked about. and like we mentioned at the top, probably one of the reasons that block is outperforming today. some wall street analysts don't l

. >>> shares of affirm are surging as the company gets ready to report results kate rooney looking at >> affirm getting a little relief ahead of earnings wall street is watching any details around credit quality and the effects of inflation and that amazon deal has added to merchant growth and payment volume will it boost revenue or help the outlook. the take rate or the yield fell due to lower peloton volumes payment volume and merchant growth still key and guidance, not close to erasing year-to-date gains, still down and one of the worst fintech performers. >> kate rooney, thank you. we've got 30 minutes left until the bell -- 30 seconds s&p continues its comeback it's now down less than 0.2 of a percent. energy, industrials, real estate, consumer discretionary and health care will go out with a gain nasdaq 100 climbing from the depths of the sell-off earlier in the hour. it is only down about 0.2 of 1%. the nasdaq is positive into the close. quite a comeback there in that final hour of trade. that does it for me on "closing bell." see you tomorrow, everyone now into "overtime" with

visit indeed.com/hire ♪ welcome back, i want to show you shares of sofi and bring in our kate rooneygging through the release. kate, it's good to have you. the stocks still hold, and i should let all of you know that first and foremost, halted down 18 1/2%. there are some who are frankly taking issue with my characterization of the guidance as being quote unquote bad can you shed this was a release that came out on the sofi site the company itself hasn't put out a statement to expect a press release earlier than the normal 4:00 p.m. eastern time. that was new guidance. it was weaker than expected. based on the release we got right here for 2 -- 320 to -- and full-year revenue looking for 1.5 to 1.5 that was a slight beep but second quarter are revenue looking a little bit slower than expected actually does look like first quart numbers were a beat. still a loss for sofi. 14 cents loss verses 15 cent that wall street was expecting and revenues were up 49% from the same time a year ago it also looks like a strong member growth. but we'll get more it tails from sofi, i'm told, in the ne

kate rooney. >>> all right, from crypt onto stocks when will the selling pressure stop? we are looking for signs of of a bottom and we're, snorkeling on "power lunch." that does it for "the exchange." i'll see you in a moment tyler, take it away. >>> and welcome, everybody, to "power lunch." i'm tyler matheson the selling on wall street not letting up at all not in any way, shape or form the s&p 100 trading below 41,000 and nasdaq below 12,000 this hour a look at stable stocks and stocks that can help ride out the volatility and the technicals on tech names and one of our guests makes the argument that inflation is about to decelerate we are two hours to the close, kelly. we've got a big first hour ahead. >> we certainly do, tyler, thanks >> tech is once again getting hit the hardest. the nasdaq was down 3.9% and a 454-point decline and incredible selling pressure on the nasdaq the s&p down 2.5% and 17 points above 4,000 right now. its last close below 4,000 by the way was march 2021 and dow is down 445. energy stocks are some of the worst performers and that's been a ch

kate rooney will have the highlights of tonight's game. and why a man who worked as an assistant coach at uc davis is now coach at uc davis is now facing federal charges. i joined the district attorney's office to pursue justice for everyone. but like so many of my colleagues, i resigned in protest because chesa boudin interfered in every single case and failed to do his job. the office is absolutely in disarray right now. chesa dissolved my unit prosecuting car break-ins. now criminals flock to san francisco because there are no consequences. we can't wait. recall chesa boudin now. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibili

and here's our very own kate rooney with sports. >> and now kron 4 sports. >> the warriors arrived insatur%ay with the texas side. the lead in the series after a crazy comeback win in game 2. the dubs are up 2 games to none in the western conference finals, which is a pretty good place to be at that strong start to the fact that the warriors have won a road playoff game in their last 25 series. that's an nba record. and you might say not should be shaking in there, cowboy boots. but here's the dallas played well shot well in game 2. and they've still got one of the best young stars in the game and luka doncic's despite feeling sick friday went 12 for 23 from the floor and put up 42 points. so the key for any team looking to beat the mavericks is to contain luka. steve kerr addressed what golden state will have to do defensively in sunday's game. 3. >> we're just trying to defend their team as best we can. the very difficult team to guard talent and ability to stretch the floor and create shots for everybody. so it's a difficult assignment. we've done well, i think for, you know, a gam

well, kron, 4 sports reporter kate rooney joins us now. , obviously he's going to get some heat from some people because of this. some people will applaud. >> the move. but he says he feels he has to do it. >> yeah, he said he knows that there's still a large group of people that will view this as offensive to former military members, veterans, et cetera. it's not what he means, though. this is in direct response to tuesday's shooting in uvalde, texas. this morning. kaplan posted a long piece to his personal blog explaining his decision to skip standing for the national anthem during games for the fore eeable future. in the lengthy post, kaplan explained that when he was a young boy, his father encouraged him to stand for the national anthem if he felt our country was representing its people. well and sit if you felt it wasn't today coupler road. he is quote, not okay with the state of this country. the third-year giants skipper who has been outspoken on social justice issues issues during the george floyd protests in 2020, for example, he

kate rooney is taking a look at the carnage in the space. >> it's been a tough week so far and weekendr crypto, bitcoin down roughly 50% now from its peak in november, dropping below $33,000 this morning. it hasn't been able to decouple from stocks, namely the qqq which tracks the nasdaq 100 and across most time frames at this point. that correlation is roughly a 1, and because of that, fun strat is starting to look at its equity research for signs of where bitcoin is going next. looking for a bottom around 29,000 and say it's going to be rocky in the near-term they recommend clients buy one to three of had month putts for downside protection. bitcoin had rallied momentarily last week with stocks. that's now looking like a head fake, and jeff dorman this morning tells me consensus is that bitcoin is trading like a levered tech stock or a 24/7 volatility index others are saying it's also poor investor sentiment, capital outflows and overall de-risking. there's also been a lack of demand across both larger whale wallets and what glass node is calling shrimps at this point. those are the

kate rooney just spoke to them and joins us with the highlights. >> reporter: i spoke to the robinhoodir own crypto and nfts. they're competing with coinbase by doing this for free doing zero fee, similar to the brokerage side of the business he wouldn't say how they are going to monetize this yet he said revenue would could eventually i asked about robinhood laying off about a tenth of its workforce. he said it's about cost discipline here's what he said. >> it's about cost discipline. we obviously know that when the fed is sending stimulus and the markets are going up and interest rates are low that things are great and it lifts all boats. but i think it's the companies that exercise that discipline and show that they can stand the test of time through rough market conditions. >> the market conditions have certainly changed since robinhood went public last august we also talked about the ceo of ftx. he bought 7.6% of the company. he said he knows him, he's met him, he's a smart guy. he didn't answer it really with a straight answer. he said that there are a lot of shareholders in the

>> kate, thank you very much kate rooney. terra coin is not the only stable under pressure now.ther, i mean, how do these pegs look >> that's a great question we did see a big of depegging in tether but i talked with the team, kelly, and it seems like that they're managing. i heard there is pressure to get out of stable coins right now because they are worried about the risk the risk sort of illustrated in ust, which really can't be understated, right, this event is probably, and i tweeted this last night, the most destructive wealth event in the history of crypto with probably $50 billion wiped out. it's not surprising that investors are worried about tether and other stable coins at the moment >> and from there, bitcoin, i mean, look at shares of coinbase last check down 27%. so the entire eco-system at what kind of risk to the stable coin issue? >> well, with coinbase, they have their own sort of specific issues, the street is really concerned about fee compression and lack of volatility in the market so they probably would be suffering or under some degree of pressure even w

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kate rooney will tell us why. that's will tell us why. that's coming up. when big tobacco's products were found out to be killers, they promised smokers safety. they called it a filter. but this filter wasn't safe or useful, just small and made of microplastics that have endangered us all. for far too long, they have polluted the earth. they're literally everywhere. there's no need to search. big tobacco, you'll have to answer for your despicable ride, for your wake of destruction. your one little big lie. ♪ at usaa we've been called too exclusive because we were created for officers. but as we've evolved with the military we've grown to serve all, who've honorably served. no matter their rank or when they were in. a marine just out of boot camp or a petty officer from '73 and even his kids and their kids. usaa is made for all who've honorably served and their eligible family members. are we still exclusive? absolutely. and that's exactly - why, you should join. >> and now kron 4 sports. >> giants manager gabe kepler says he won't be leaving the dugout for

our kate rooney is live at chase with a preview. coming up. when big tobacco's products were found out to be killers, they promised smokers safety. they called it a filter. but this filter wasn't safe or useful, just small and made of microplastics that have endangered us all. for far too long, they have polluted the earth. they're literally everywhere. there's no need to search. big tobacco, you'll have to answer for your despicable ride, for your wake of destruction. your one little big lie. >> and now kron 4 sports. >> we're closing in on tipoff here at game 6. is the warriors get ready to take on the grizzlies in the western conference semifinals? we're live at chase center. we are at splash wine bar part of the budweiser legends club. and let me tell you, this is not your normal. karina fair. they've got bottles of bubbly bottles of wine, some elevated appetizers such as sushi and charcuterie great place for fans to get to come in and taken a little taste of the high life before a game. it's not just a clever name because the warriors are

first, though, want to check in with kron 4 sports reporter kate rooney who >> is with us with what to expect tonight, kate, what kind of nerve wracking game. >> yeah, i don't think anyone expected that result game 5 grand and tonight the warriors are hoping the game 6 looks a whole lot different than not game find. they have the chance to close out the series in memphis, but instead they lost one. 34 to 95. that is the 5th worst playoff loss in franchise history. so what are the warriors have to do differently to avoid a similar result? the last time out? well, short answer everything. a little bit of rebounding, a little bit shooting. they got to have better team event look at current over. that was a big one. so last time out the words from the ball over a whopping 22 times leading to 29 memphis point. it was also the first time in the series, the grizzlies outrebounded the jobs and the warriors were missing. a head coach steve kerr who tested positive for covid-19. now he's going to be out tonight as well. but acting head coach mike brown has experience here. we've got him for stee

of course here to break down these crucial moments of the trading day plus needham's bernie, and kate rooney on crypto stocks taking a stumble. stocks are getting slammed here into the close major averages having their worst day since back in 2020 i just want to give you a market check because kevin is right we don't often see days like today where the nasdaq is down 6% there's the dow down 1287 points mike, intense selling really from the outset and we're continuing to make new lows as treasury yields rise, the dollar strengthens. add it all up. what is driving the intense selling today? >> all of it it's kind of like what are you rebelling against? well, what have you got? that's an old movie line 3% treasury yields has been a little bit of a psychological line dollar racing higher and really just keeping the market off balance after a day when they thought they got investors kind of read the fed as maybe giving an incremental dovish surprise. it's the largest stocks that are having the greatest weight so the biggest nasdaq stocks are causing the most damage today. look at all 1,000 stocks

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mavericks by 25 points and now it's time to look ahead to game number 2 kron. 4 sports reporter kate rooney joins us now with the highlights in the latest from today's practice session. they must be pretty fired up. kate. >> i think they are feeling some good mojo right now. that's the term draymond green used. i mean, wouldn't be great if every game. what like game one did for the warriors. but you really can't bask in the glow of a dominant performance like that for too long because you've got to turn around and try to do it again. >> tomorrow, game 2 does promise to be a bit more of a challenge. the warriors remember had 4 days off before last night, but the mavericks won game 7 of their last series on sunday. and so you almost expect a team to drop off a bit after a hard fought game. 7 victory like that. so even though the warriors are happy with the way they played their ball distribution there, 56.1% shooting and they're excellent defense. they know the mavericks will bring a different look to game 2. and so they need to be prepared for those adjustments. >> you think about all that s

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kate rooney has mike brown's reaction. brown will probably be filling in for steve kerr again.hat can i du with less asthma? with dupixent, i can du more.. catching my train... making moves... ♪ making a connection... a train connection. that's how you du more with dupixent, which helps prevent asthma attacks. dupixent is not for sudden breathing problems. it's an add-on-treatment for specific types of moderate-to-severe asthma that can improve lung function for better breathing in as little as two weeks. and can reduce, or even eliminate, oral steroids. and here's something important. dupixent can cause allergic reactions that can be severe. get help right away if you have rash, chest pain, worsening shortness of breath, tingling or numbness in your limbs. tell your doctor about new or worsening joint aches and pain, or a parasitic infection. don't change or stop asthma medicines, including steroids, without talking to your doctor. are you ready to du more with less asthma? just ask your asthma specialist about dupixent. >> all right. a look outside looking out over san franci

so now it's time to look ahead to a game to our kron. 4 sports reporter kate rooney joins us now. >>e latest from today's practice. take 8. >> hey vicky. hey, grant. yeah. wouldn't be great if every game went like game one went for the warriors, but you really can't bask in the glow of a dominant performance like that because you've got to turn around. >> and try to do it again tomorrow. game 2. >> to be more of a challenge. the warriors remember had 4 days off before last night. >> but the mavericks won game 7 of their last series on sunday. and you almost expect a team to drop off a bit after a hard fought game. 7 victory like the one they had. so even though the warriors are very happy with things like their ball distribution there. 56.1% shooting and of course, really excellent defense. they know the mavericks will bring a different look to game 2. and so they need to be prepared for those adjustments. >> you think about all that stuff and we talk about that in our coaches do they change their their lineup at all? and then they change combinations. today. >> you know, try to do c

kate rooney has more what it means for the market we have seen it from a number of vc companies sequoia of warning and building during these times. >> absolutely. had the black swan memo we talked about a couple years ago. advice to founders this time, preserve cash and cut costs or you're not going to make it through the slowdown got a copy of the 52 page presentation to founders people pay attention to memos. it is one of silicon valley's most successful investment firms. sequoia calling this a crews bell moment for founders doesn't see the economy bouncing back anytime soon, warning startups to tighten their belts in the meantime. some of the partners talk inflation, geopolitical conflicts, limiting what policy makers can do to step in unlike 2020, the correction won't be followed by a v shaped recovery sequoia warns of what they call a death spiral, referring to companies that grow too fast without slowing spending growth at all costs they say is over investors are now rewarding discipline it is the latest sign of austerity in tech. had meta, uber, freezing hiring, netflix as well.

. >> tom, thanks -- >>> another down day for bi bitcoin, our kate rooney has more. >>> the big thingng this week, a collapse of a controversial cryptocurrency is having a wide effect, bitcoin fell below $25,000, investor sentiment is really shaken and there's fears of outflows from some of the bigger cryptocurrencies to prop up the price of the smaller tokens that are crashing now the one in focus is terra/u.s. that broke this week and has not recovered. it fell to a low of 23 cents yesterday. a related currency called luna is down 90%. traders tend to use them to get in and out of crypto units quickly. tender, by far is the biggest one, as far as the -- that is losing the -- this has happened before, but the fear in this environment especially would be a run on the bank, if traders all rush to redeem their tether at the same time and whether tether can hold its -- is a signal of -- tether said it's honoring all redemptions without a sweat drop, quote. and a charismatic. it includes galaxy digit at, pantera capital, coinbase, and finance labs as well sources tell me the fallout right

welcome back a volatile session for sofi after somebody put out their earnings sooner than planned kate rooneye with highlights. >> we did get a sneak peek of the numbers earlier. i just speak to ceo and he says that was a result of what he calls human error. we have the official numbers which line up with the earlier release. the stock has been down 18% after the numbers. looks to be a knee-jerk reaction to q2 reaction and for the first quarter, looks like a beat across the board eps was a loss 14 cents but a penny above expeck takes it's profitable on an even out basis and revenue beat 49% year over year. i mentioned the q2 guidance. wall street was looking and he he says the guidance was updated april 6th and says some of the wall street estimates might be out of step with that number and like i mentioned they did raise the full-year guidance number asked him about the health of the consumer they've got other sides of their banking b as well. says credit looks good the average income of 160,000 tlf and a credit score in the 700s says they're not seeing the same as upstart and says there's a

. >> kron 4 sports reporter kate rooney joins us live from chase center. in attic of the way. this entire series has gone. highly emotional back and forth. lots of tight moments. this one tonight was absolutely no exception. but here's the good news. the warriors came through did what supers