, the nasdaq is certainly the largest piece of the puzzle.ader market is actually acting quite fine today. seven sectors higher today, breadth is positive, but technology being such a huge weight, so ndx, i think it's lowered to around 12,450 or so, about a 50% retracing to the entire rally up from november, so i do continue to think that the nasdaq and technology underperform, it's really important to know -- also the broader market are not the best representation necessarily of the market, because it's so tech-dominated >> quint, just looking at the biggest losers on the nasdaq it's hardware, it's software, social media, even biotech, would you be a buyer, though of the pullback here? >> yes it's not been a popular view, and said several times we would not be chasing stock we're getting a pullback and maybe attractive the stock, you know, is trading 20 times forward, growing 34%. no debt, has pulled back considerably again i think you have to be very selective we'll be looking at the semiconductors as well they are getting obviously smashed

right now you can see the nasdaq is down 216. to be in correction territory, it has to be down 311 points. investors are bailing out of some of the hottest names, zoom to okta, we'll get you all of the laggards. butwhat paul did and did not sa- powell did and did not say. president biden is meeting with bipartisan lawmakers, the $2 trillion infrastructure bill, is that ready to follow the nearly $2 trillion stimulus bill that's being discussed in the senate today? we're going the a take you straight to capitol hill for the breaking details. clean energy could very well be a part of that infrastructure bill, but as oil pops above $64 per barrel, settling just below it, big oil is already trying to get clean. we'll talk to the former ceo of nrg, david crane, who was way ahead of his time on this. his spac target has the biggest market share in the electric car-charging space. and big apple real estate took just a pounding during the pandemic, but are homeowners about to come flocking back to the city? we will ask million dollar lis

phobes with the nasdaq at -- folks, with the nasdaq at 518, we're looking at a session high of 537. so it feels like we're crawling back this. tom, chris, it's great to see you. thank you so much. here are the nasdaq winners, baidu, apply materials, tesla. you saw those names and, you know, it is an important day here for them. but you have to understand that sometimes the bottoming out process of a correction takes multiple weeks. so, yeah, these are names that are looking pretty healthy at the moment. now, tech may be the shiny object, but you must not ignore the industrial names that move stuff. the dow transports look to close at a record today. that would be the second day in a row for the transports to make it into the history books. we're up 161 points. basically, it's any gain that will give it that record, and that's with no help from the airlines. take a look at the major carriers, mostly -- we do have them up. southwest is down 1%. they had been lower earlier on the news that they were urging the biden administration to develop consistent covid credentials, a covid passpo

you saw that last year we moved over to nasdaq and we are in the nasdaq 100 we'd still like to be inhave a wall of them here as well are there any areas that you're not operating in at all that you're looking to, some of the new hot areas whether it is alcohol involved drinks, hot celtsers or cbd based drinks, that sort of thing >> when we launched the new company we were the first to put hot and cold beverages together at scale we describe ourselves as a modern beverage company because we look at beverages holistically from a consumer needs standpoint rather than a traditional format segmentation of the industry which led us to the insight about coffee and cold beverages that is our mindset going forward. we are not in a position to talk about anything beyond that but we have clearly mapped out the open territory in our portfolio. we know where the consumer is going and through a combination of organic development, partnerships, and m & a we'll continue to expand our reach into new areas of beverage. >> why do you think your stock has not been valued the way pepsi and coca-cola have

guys, back to you. >> to your point, the nasdaq is down 3.3%, down for the year 2.5 for the nasdaq you mentioned some of those high-flying growth-y, you can't even in some cases f frothy. what can we glean from the process? is it just selling across the board? algorithms going oaf something else >> that happens, but you'll see the defensive names, utilities, consumer staples, they're not down nearly as much today. health care, for example that's a sign that the overall basic market that's out there, the u.s. economy stuff straight ahead, is fine we've had big moves up in the reopening, what we call the reflation trade, industrials, material stocks overall. some of these may have gotten frothy as well not frothy like the big growth names, but some of these stocks moved dramatically in the last few months the reopening will happen. the question is whether or not freeport mcmoran has gotten a little ahead of itself when you gets days like today, people who vice president big profits, they say all right, you know what? let's lighten up a little. we'll see where it shakes out. it's understa

the nasdaq is down 2.2%.ar to date all the other major averages are still higher the nasdaq, which was the big star of 2020, is now lower, with more pressure on technology as yields march higher. that's been the story. and it happened in a big way today, wilfred. >> off the session lows at the close, but markedly lower for all the major afternoons welcome to "closing bell." i'm wilfred frost along with sara eisen and mike santoli, cnbc senior markets commentator. the russel of call caps down 278% nine out of 11 sectors were lower. communication services was flat. energy was the outperformer, up 2.5% tech stocks essentially the focal point getting crushed again today. coming up, we will have a debate whether this tech wreck will continue we will be joined by tom lee and dan ives we have earnings coming, broadcom, costo, i max and gap all set to report. we will have all of those numbers as soon as they cross. stephanie link still with us and mohamed el-erian joins the conversation let's start with the comment f

take a look at the nasdaq, lower right, down 2.5% right now or 326 points. the dow is struggling here, 6 points. and i say -- 36 points. it had been up 212. don't go away, we will come right back with all the action. ♪ ♪ let's meet the defending champs. kim kietz, investor. i invested in invesco qqq a fund that invests in the innovations of the nasdaq-100. like 3d rendering software. become an agent of innovation with invesco qqq. ♪ become an agent of innovation with invesco qqq. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, o

and nasdaq 100 both down more than 3%. >> pretty ugly close, especially for the nasdaq, down 3%. >>> bell. i'm sara eisen along with will fr fred frost and mike santoli. the dow ending down 153 points, boeing was the biggest drag on the dow. earlier today we had a new intraday record high and were up sc as much as 212 points. it took a spill at the close the s&p 500 down 1.5%. worst day since february 25th when it fell 2.5%. apple was the biggest impact on the s&p. nasdaq, hardest hit, down 3% breaking a three-day win streak. on track for another down week heading into a friday. we're down about 1.5% so far on the nasdaq this would be the fourth down week in the last five, which speaks to the trend of tech being very hard-hit on the back of rising rates. the russell 2000 index of small caps got hammered hard today, down 3%. worst day since the end of february and down 3.6% so far for the week. >>> coming up this hour, katie stockton on the recent rise in bond yields and why she doesn't think they will be a major headwind for equities. >>> plus, we are awaiting a pair of big earnings

. >>> nasdaq and nasdaq 100 pacing for their third straight negative weeks nasdaq has recently gone positive by just shy of 19 points dow is the winner again. there's the russell in the red we're watching yields to the ten-year it's at 147. all this brings me to the stunner from john rogers he told me during a cnbc pro talk late on wednesday that investors should avoid the s&p 500. >> we started to feel like the nasdaq and these tech stocks were going to have their comeuppance, and will have a difficult time i would stay away from the s&p 500 that it's so chockablock with the faang stocks and fast-growing company, but that's an area that will cause the entire market to go down, because they're such a high percentage of the s&p 500. >>> farmer jim, you're my value guy, right is he right? is john rogers right >> he's partially right. i'll give him that here is where the mistake is you cannot paint all of the nasdaq with the same brushstroke. there's growth at a reasonable price, which includes the faangs if you look at apple, that's where it's going to go that's more than a enough of a drawdow

nasdaq dow futures are up. all eyes on big tech now, nasdaq has been weak. index down four of the past five sessions, down 10% from the most recent 52-week high apple, the biggest stock and the biggest drag on the nasdaq, falling about 4% yesterday, and apple continues to slide this month, but it is up about 2% right now, and of course we stay focused on bonds because that move higher in yields, that very violent move, for bonds anyway, was a big reason stocks turned down yields right now, actually coming back down to 1.54%. a lot of drama in the chinese markets the last couple of days. the shanghai composite down 1 1.82%. we'll have to watch tomorrow the hang seng did rise europe just getting their day started, a little more green than red on the screen, at least the last time i checked skpchl l -- and look at that the germany, the ftse and france higher today outside the markets and back home maybe not a moment too soon for families struggling with joblessness. the house is preparing to take up a final version of the president's $1.9 trillion spending and

monday the dow surging 500 points, hitting a record high following friday's rebound rally, but the nasdaq is still lacking. it's down about 1.5%, near the lows of the session. we're going to look at the great division of what's going on with the industrials and nasdaq the big cyberattack with w widespread impact. we've speaking with david kennedy. >>> elevest is helping to put money in the pockets of more women-led businesses "power lunch" starts right now >>> welcome once again, everybody. frank holland and seema mody join us this afternoon for the hour glad to have both of you with us on another, another big day, folks, for the markets frank? >> tyler, that's absolutely right. a big rally, tracking for a record close while tech seems to be sitting out the party let's bring in bob pisani with a look nasdaq falling about a percent and a half, what do you think? >> what's happening the gap between growth and value stocks is getting wider and wider, but it's even simpler, that it's tech versus everything else. tech being down today is the reason we're not get a lot of energy faang stocks ar

there are the industrials, above 32,000 look at nasdaq, up 4% today.on track earlier today for its best day since last april, frank. and i think what we have to be aware of, as we get to that march 23rd low in the markets, we are going to all start looking back at the one-year performance of stocks, how has it done in the last -- well, you are going to see numbers that will going to blow your mind away but remember the base on which you werity starting. >> tesla shares up 18% 26% off its 5 -week high you mentioned the one year performance, up 442% over the last year. >> good to be with you "closing bell" starts right to you is this welcome to the "closing bell," everyone, i'm wilfred frost along with sara eisen. green across all the screens on wall street today. it's a big day for tech. excuse me. the nasdaq seeing a huge bounce after dipping into correction territory yesterday. currently up a staggering 4% as we head into the close lets look at what's driving the action treasury stocks coming off their highs. tesla, and

of course, the big talk, you even heard bob talking about multiples and nasdaq the nasdaq is really takingr child for all of this pricing torture is the ten-year u.s. note now, let's put a february 1st chart and put the said antagonist on top of the protagonist and let's see what it looks like. what i see is right around 135 is when the biggest defects of the ten-year seem to have happened to the nasdaq what do i remember about 135 that was the time we were starting to close above what had been the double bottom in 2012 and 2016 right around the mid 130s once you start to close yields above that level, you made many nervous about what the future may look like and u.s. ten-year rate, a corrupted rate, but it is a global rate all eyes focussed. it helps to explain a lot. the dollar index was a surprising run of strength that started in about four weeks ago. if you look at a one-week chart of the dollar index, today is one of the days it seems to be taking a rest and finally, august 1st chart, right around 92 plus is where all the resistance will be we might be at a top of the range at the mo

the nasdaq's got way off the floor.nding eight count yet again today and has both hands up and it is i can tp and they'll let it go. it's fighting on and down 33.75 or so right now. no big deal, weiss this is normal it's just a rotation there's a lot of good news ahead. things are good. everybody's kind of chill out. by the way, brian bellski says we don't view yields, they stay with 4200 and they stay better during periods of riding rates . >> that's true because they're going for the right reason which is that the economy's improving, look, i think the market can withstand even 3%, but if we get there in a couple of days it's a different story so what's really driving the market is the spike and the major move in rates in such a depressed period of time. that started on february 25th with really a terrible option in the seven-year treasurys where the cover was only two times ridiculously low and the spread over the prior seven year was at an all-time high this week is extremely important coming up because we're gettin

less than that on the nasdaq the nasdaq had been down 2%. the sector heat map.1 sectors are higher. it was split earlier in the session. energy up 10% for the week, 3.7% today, over the course this week, energy has been up on down days and on up days. >> it has been a remarkable run. today the s&p has been up a percent and down a percent haven't seen that since july. >>> new pugh research survey finding 69% of americans intend to or have already received at least one dose of a covid-19 vaccine. s that up from 60% back in november this comes as president biden earlier this week said there will be enough doses for all american adults by may let's bring in dr. scott gottlieb former fda commissioner. sits on the boards of pfizer and illumina and is a cnbc contributor. welcome back, doctor >> thanks. >> so, let's talk percentages. 16% of americans have now had at least one shot of the covid-19 vaccine. if you add that with the percentage of americans that have already been infected with covid-19, how close are we to herd immunity at this point. >> not necessarily clo

nasdaq releasing higher. the s&p 500 between those two dynamics almost a 2% move it has kind of returned the index back up into the zone we were talking about for a long time here. this sort of 20-day average is the first hurdle that you have to jump to say is this just a mechanical reflex bounce or maybe we have put in a decent end to the pullback phase. we will see if the s&p 500 can build. but there seems to be oversold stocks there are a bunch of sectors the big huge scary disruptor like amazon that has done almost nothing or worse, whereas the disrupted during 2020 trounced them this got a little bit too wide at least on a one day basis. you see them kind of giving a little bit back. and you have nasdaq 100 type stocks also coming back. it is not just in retail look also in media we can see netflix, over a six-monday period done very, very little. and viacom, cnbc, and discovery considered to be the also rans in the sector, they went off this gap again too big people decided to give these folks creditor

the nasdaq strong this morning after so much selling off. the nasdaq up 261 points, better than 2%.nd the s&p 500 right now up better than 1%. yesterday the nasdaq was down 311 points. it entered correction territory by the close. technology stocks taking a beating, apple, facebook, netflix and tesla all declining on the session yesterday. joining me now is capital wealth planning market strategist, jeff soks and john lonski. joining the conversation this morning is dagen mcdowell and jon hilsenrath. great to see everybody this morning. thank you for being here. jeff, kicking it off with you. we're seeing a nice bounceback this morning in tech. is the selling over now that the nasdaq reached correction territory or do you believe there's more to go with the high valuation tech names. >> actually, i don't think the valuations are all that skewed on the upside here. maria: okay. >> technology has been one of the leading groups. i would expect it to continue to lead. we're in a buying stampede. the stip call buying stampede lasts 17 to 25 sessions. this thing lasted since october. i wo

while the nasdaq sinks the dow hitting a record high. dominic chu has more on today's action. >> it feels like a decade ago talking about tech and financials being the key parts of the market to drive things. you heard melissa mention 1.754% that was the high intraday so far for the 10-year treasury note yield go back to january of last year for the same level that rate shock is driving a lot of action in the market so far right now. take a look at the parts we mentioned. start with what's happening with technology ap apple shares off 2%. these are off the lows of the session. these four stocks represent a very large chunk of both the s&p 500 and even more so the nasdaq 100 with the decrease in growth stocks and technology driving things look at tesla, zoom video, paypal staggering moves but seeing the pullback from the highs over the last several months. now the financial side look at the particular moves, especially in mega cap bank type names. wells fargo up 4%. i want to focus on these two right here record highs for jpmorgan and gol

nasdaq 100.ng at the historic meaning of all this, and a lot of people look at the fact that when you have these rallies such as yesterday, is it just the middle of a deep selloff? manus: it certainly had people questioning the valuation for a moment, but they came back in. this is looking dicey. roll the dice. there is a saying, roll the dice, settle the price, where she goes, nobody knows. bottom line, volatility is expecting to rise -- you like that, don't you? my favorite line, the bond market, a bloodbath, oversold, top down on the 30 year spike. 3% on 10 year is a possibility, though. annmarie: i will teach you about trainers and you can teach me about all these interesting market sayings. we should end on what is happening today. looking at the treasury department, strong demand on the three year, and today we have the 10 year. re: still going to see continued strong demand? manus: absolutely. annmarie is going to be up tonight, focused on the bed cover ratios and what gets allocated to th

even with a late day rally on friday, the nasdaq and the nasdaq 100 both dropping nearly 5% last week1 nasdaq 100 stocks fell more than 10% in just five days it was led by zoom's 18% haircut. all this comes as oil moves higher again, drone and missile strikes hitting saudi arabia's biggest port and near one of its biggest refineries yesterday yemeni rebels take responsibility, adding to middle east tensions and tighter supplies helima croft will be here to weigh in on this developing story. >>> in bonds, ten-year yields lately, the thing to watch in the markets. yields making a sudden move higher last week stocks went down with it watch bonds. we've got a whole 11 days before the fed chair speaks again that is basically an eternity in these types of markets. >>> around the world very quickly, mostly red arrows in asia the shanghai composite down more than 2%. europe just getting their trading day started. they are flat to mostly down as well >>> to washington now and the latest on the american rescue act. the senate approving the nearly $2 trillion spending bill this weekend, straight

the dow is down 458 the nasdaq down 318 look at the percentage bases nasdaq down a percent more than dow. it is the big cap sell-off that is driving this. the ark etf we just showed you arkk and a shout out to our friend john spoliszani talking about arkk and others down 9, 12, 15%, the high momentum, high value names getting hit hard to see in part because the big move in the 10-year yield if we look at the sectors, energy has no problems oil is up 5% right now energy and utilities the only two sectors in the green that opec meeting giving another boost to oil prices at 65 bucks a barrel energy stocks are soaring today. consumer discretionary materials, technology, they are some of your laggards right now as we talked about ke holdings and others, they are down big. a cnbc news update step briefly out of the markets. for that we go to courtney reagan. >> here's what's happening at this hour. president biden authorized two air strikes in syria last month. "the wall street journal" says the second was called off while bombers were enroute to their target because a woman and child were

how about the nasdaq winners, nasdaq-- sorry tesla is up there 6%. what else? of them gaining nearly 3% across the board, nasdaq winners. how about eli lilly, a drugmaker it's up reporting positive results from an antibody cocktail treatment for covid, $206. combination therapy was shown in a late stage trial to reduce the risk of hospitalization and death by 87%, no wonder the stock is up here j&j come in the demonstration plans to buy an additional 100 million doses of its single shot vaccine. stock is 1508. disney plus has hit a major milestone, 16 months after it was launched. susan, let me guess what this milestone is-- no, no, i will leave it to you. susan: its 100 million subscribers and i think we read the headlines. 16 months on disney plus and remember how long did it take netflix? i will read my script again. stuart: what did you say? susan: how long did it take netflix, took netflix a decade and disney plus a 16 months but what i found interesting was that because of the fact they didn't raise their 24 guidance for subscribers, still 260 million on

the nasdaq back out of correction territory. here are the nasdaq winners.s. the leader of that pack is tesla. it is up $55. that is 9.8%. baidu also up 9%. some big winners on the nasdaq this morning. >>> how about this, no more money for rinos. that is what president trump emailed to those. they want money sent to him rather than packs. they do nothing to hurt the republican party and our great voting base. they will never lead us to greatness, end quote. senator mike braun, republican from indiana, mr. senator, this is one split republican party, isn't it? that is no way to go into a re-election campaign. what do you say? >> that will be a common theme going forward. i'm back in my hometown of jasper today, the place where we have conversations before. i manage the tree farm for the therapy i need as my new job as a senator. that kind of tug-of-war will be out this and stu, it is very clear, we've got to even with what president trump said manage to keep the party together. it is not like we're long on numbers to begin with. i think it's a party in additi

but the nasdaq was sharply lower.on friday resumed selling yesterday, and had a tough session down more than 2%. it's up today. but tech stocks continue to be hit hard that was a gain the nasdaq saw last year. the nasdaq down again, falling into correction territory. tesla, apple, alphabet, and netflix, each lost 4%. our next guest says we're in the danger period for fixed income, and investors need to reposition their portfolio for the year of the vaccine. joining us is gabriella santos, global market strategist at j.p. morgan asset management. gabriella, do you have an overall year end target for the s&p just in general? are you surprised that it's continued to hit higher? >> so i think thwhat's interestg is this definitely not the year to be looking at the index as a whole. we think there will be a mid single digit positive year for an index like the s&p 500, but really the action is definitely beneath the surface, as you see last year's big winner sell off for investors to rotate into the more cyclical aspects of

we opened -- nasdaq.aq was up about 100 points as i recall. now it's down 62, and the lead from the dow has been cut from 150 to about 120 as we speak. this is part of the reason why the yield on the 10-year treasury, 1.58%. investors do not like higher long-term interest rates. big tech especially doesn't like long-term interest rates going up, that's why you've got a mixed picture on big tech despite their recent losses. microsoft is up, google's up, facebook is occupy and the rest -- is up and the rest are down. bitcoin, $48,000 per coin, that's where we stand. that is the state of the market this morning after that stellar jobs report. now this. this week seemed like we've been hit with an avalanche of cancellation. yeah, the woke crowd is winning. we're being pushed into an intellectual straitjacket where we are told what we may say and what we may write. it doesn't matter when you said it or when you wrote it. if you stepped outside of what is now considered acceptable, you are out. you are ruined.

nasdaq is down.e same time, we see a rise in u.s. 10 year yields, we are steepening the curve more broadly. this steepening is being factored into markets and it is not looking positive for markets in the short term. >> no. it is not great. last time we sought the curve steepen this aggressively was the early part of 2008. most of you remember it was a tough year for markets overall. it happened in january, february, and now it has started again. not a great sign for markets. anna: we will come back to that conversation. we will talk more about the fed conversation. at the moment let's get a first word business last. laura: disney plans to reopen to theme parks on april 30 after more than a year of them being close. they are among the last two welcome back customers. they will be limited to state residents who book in advance. >> we are thrilled with response we have seen from guests in term of future reservations and intent to come back to the park. it is a function of two things. one that we are se

despite the fact that the nasdaq _ situation. despite the fact that the nasdaq had - situation. fact - that the nasdaq had a wobble, 3% fall, more than a wobble, yesterday, generally we have seen indices, equity indices, higher and higher and more problems in the bond markets, so where we are seeing the divergence between those with debt and those with equity, where are we seeing that? it is a clical where are we seeing that? it is a cyclical move. _ where are we seeing that? it is a cyclical move. it _ where are we seeing that? it is a cyclical move. it is _ where are we seeing that? it 3 a cyclical move. it is more of a cyclical move. it is more of a move into value stocks where they are more likely to pay dividends, so you getjammed today rather than the promise ofjam tomorrow. you are certainly seeing a drift away from technology stocks. they are coming off the highs we saw earlier this year. that is also because as economies recover, they are also less attractive because they have seen this super fast growth rate. because they have seen this superfast growth rate. as econom

it is all about the nasdaq. >> yes, a ton of talk about the nasdaq rotation, and what is going on andeverything going on interesting right now. i am looking at the news futures contract here, because that is the next active futures contract next week. looking at the 12,800 level on the futures and close above there, that is a key reversal here, and we can move significantly higher, but if we don't, we can fail this and looking at the downside of 12,500, and on the 11,200, and with the aspiration coming up next week, and if we can get confirmation next week and 14,000 maybe a magnet for opposite of the expiration, higher, but a great area for the hedge, because i don't believe that the nasdaq is staying here, because it is significantly higher or sell the rip today and give yourself a chance to get out of technology and make the rotation into the valuation. >> and what is the fundamental to take, bill? >> well, thank you, judge. i agree with the levels that brian is bringing up, and i have the same ones, but this is the treasury story and second the tech story, because what we are seei

nasdaq down 2%, dow down 1.3%. where you've got almost a 4% spread between the dow and the nasdaq 100 it's almost taking the rotation to unreasonable extremes >> it's been decades since you've had specifically this wide a gap it also is a result of how concentrated the nasdaq 100 has become of course, we know all the stocks have done nothing or worse in six months, so it really is remarkable that the overall market is able to absorb this sell-down in the overcrowded growth stocks. it seems like that rotation maybe is going to get stale at some point, but right now it's working. the equal weighted s&p is up over 1% today even with the fang stocks getting hit >> nancy, it feels like, if you want to have a certain view on sectors in the market right now, you have to know, or at least have a view of where rates are going. tech gets hit and cyclicals rise what are your thoughts on that and how do you position accordingly? >> sara, thanks for having me. i actually think this market is analogous to the 1990s we had labor

you are seeing that visibly in tech and the nasdaq 100.ch is falling on his face for lack of a better term with high market interest rates. tom: will the corporations adjust to the reality of collapsing ratios? mike: i think so. a previous guest pointed out that in a v-shaped boom, reflation and then inflationary profits are going to go up. that's one way for the ratio to adjust down. but the other way is through lower equity prices. we are seeing a combination of both. the profits will be strong. i think the equity markets are going to struggle. they have already priced in the rebound. with not fully appreciated at this juncture is the potential for long-term interest rates to continue moving up, for inflation rates to go up, we are looking at the prospect of higher tax rates on corporations and capital gains. they will be forced to start tightening monetary policy next year, not in 2023 or 2024. lisa: this leads to a big question, the weakness we are seeing in the nasdaq, will it persist? can it bleed over to other areas of the equity ma

nasdaq is up 200.- because of this rally, there's now a sixth person worth a hundred billion dollars or more. who is number six, susan? susan: warren buffett who finally and 90 years old, the oldest of the bunch and he joins jeff pesos, elon musk, and others in the 100 billion-dollar club. remember buffett gave away about $37 million of his stock in 2006 so he could be worth more. i think the same thing could be said of bill gates, but berkshire hathaway has outperformed so far this year. it's rallied 15%, outperforming the 3% gain for the broader index and i guess it doesn't matter how long it takes to get there as long as you get there. is it all the same after a billion, stuart? stuart: all of these people are protecting their wealth, all of them. you think they are going to pay estate taxes when they die? no. susan: can't we just enjoy the wealth? stuart: wait a minute, all of these people-- not all of them, but most that i know of, and they will not pay estate taxes. they love government but they

nasdaq futures up 230, dow up 138 right now.fter being left out of the rally on tuesday, speaking of, the dow roaring back in a big way yesterday, surging to a record high, closing above 32,000 for the first time ever likely has to do with a combination of things, but the treasury bond market settling down could be a big one no big moves the last few days in yields. you also have stimulus checks about to hit the economy and the stock market, and a technical continuation of recent trends, we'll get more on that with craig johnson in just a moment >>> around the world, a mostly higher session in asia overnight, the shanghai comp popping. more than 2% talk of the government stepping in and doing buying there the trading day just getting started over in europe, ahead of a very important ecb decision. that's at 7:45 a.m. eastern our time julianna tatelbaum is in our london newsroom and we have a lagarde. it's not powell watch, it's lagarde watch there. >> that's right. great to join you this morning so european investors bracing for

17% of the overall nasdaq 100.show you how important they are, john take a look at those names, by the way, if you are looking for all 16 of them i put them on twitter, check out my handle at the domino. you will see all 16 stocks and the rankings, john i'll send things over to you. >> dom, you are too fast for the charts. >> the charts are too fast for me at one point. >>> all right, sofi announcing it will acquire golden pacific in the firm's effort to acquire a national bank charter. on thoin,good morning, so the big news, you got a credit card, you are buying a bank. you will be able take deposits, make loans on those, if that charter goes through it seems a part of this new challenge of bank, neobank movement a lot of focus on chime out there. what unique mechanics is sofi going to be able to offer here >> well, thank you for having me, john the national bank charter is an important element to allow us to differentiating sofi money and lower our cost of loans, which will allow us to make more loans at more peo

up 2.6% on the nasdaq. look at individual market movers payment stocks getting a boost after a note from moffett nay thans on how the stimulus bill could lead to more consumers depositing checks into digital waltz. square expected to benefit the most from this up 6.5%. paypal up 5% shares of crocs are higher after announcing its second slab rags with justin bieber pairing the lavender clog with tall white socks from the drew house. baseball bieber's clothing brand. the bundle will be available in limited quantities march 16th. crocs shares jumping 5%. >> i have more to say about the fact that he is wearing them with socks crocs are okay crocs with socks >> people do it. i have never worn them either way. they look ridiculous with all those things on it >> they are hot right now. they have been on five up 5%. the bieber clap has been bullish maybe time for crocs with socks. >>> time now for a cnbc news update. >> the u.s. postal service says it does not plan to close any world post offices the postmaster gen

the nasdaq 100 up about 4%. amazon up about 4.25%. so all of those technology names are racing ahead. this is one of those rare days where the cyclical stocks, economically sensitive stocks, are in lockstep with the technology stocks. normally, this doesn't last very long and experience has been you might see it in the morning, might dissipate by early afternoon. you might see it on the day. it doesn't go two days in a row. that is the phenomena of late. we'll see if it holds today. stay with us. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotr

nasdaq down 21.ca, don't you? stuart: i am absolutely incensed that our schools are not open. i know month claire, new jersey, very, very well. it is a upper middle class, thoroughly liberal enclave. susan: correct. stuart: i'm glad to see they're going to court to get their schools open again. it is about bloody time. don't let me digress. tell me about square, please. susan: square ask down after announcing, a little hot under the collar today, square is down after announcing a 300 million-dollar deal to buy up jay-z's muse title. jay-z joining the board. you will see betting odds on draftkings in the graphics during live ufc fights. snowflake, cloud warehousing company, huge quarter end 2020 guidance a little weak. we are much lower earlier on. and also announcing results, wider loss in the final three months of last year. announcing a 6 1/2 billion dollar deal to buy its rival. 6 1/2 billion dollars might be a little much, it represents about a fifth of okta's market cap. stu, are you okay? stuar

they are down big time this morning, nasdaq futures off 250. treasury yields spiking again after stabilizing for a couple of days bond yields up more than 10 basis points, again, doesn't sound like much but for bonds it is, inflation fears, they're very real. what inflation does is reduces the purchasing power of your current dollar in laymen's terms, it makes things more expensive. if you make x, you got to spend more to get the same amount of product, and pretty much every commodity is higher. so far this year, ten-year yields up again today. who are some of these names that are losing the most ground in the premarket for big tech it's the names you might expect. all the names that printed money for you last year because covid would never leave and will never leave our home again obviously not true peloton, baidu, tesla, docusign, down 3 and 4% right now. we're going to hit more on the macro marks in a bit right now, it's time for a wex exclusive. these aren't stock buy backs these are corporate insiders buying their own stock with their own

high of the session for the nasdaq. we're blasting through that ceiling just a couple of minutes ago. the dow and the s&p powering higher as well after a jobs report gave the markets a boost. energy names also adding to the rally as oil topped $66 per barrel in the regular session. our floor show traders are up next. now bitcoin, it may be rallying as well, but crypto crypto's don grabbing the headlines. the ceo of coin flip, they're the leader in crypto atms, he's here in a fox business exclusive. he just added doge coin to his network of 1,800 atms across the nation, and wait until you hear the offer he has just made to elon musk and tesla. and movie fans in the big apple finally get the moment they've been waiting for through this yearlong pandemic. nyc movie theaters reopeninged today. we have a live report and top media analyst rich greenfield, highly followed on wall street, he is here on which media stocks will benefit the most from those movie theaters reopening. >>> all right, to the markets. a fox market alert

the nasdaq still higher. let's look at what is driving the action one hour left of trading treasury yields remain in focus and are ticking lower today. this after the latest read on inflation was in line to lower a bond market didn't spark the market we are keeping a close eye on washington as well this hour where the house just passed the stimulus bill and where president biden is expected to meet with the ceos of johnson & johnson and merck this hour. we'll bring you there live the reddit retail names seeing huge swings. gamestop up as much as 40% before turning on a dime, falling all the way to negative territory. we'll keep an eye on it for you. 59 minutes left of trading >> we are near session highs on the dow which should be enough for a record close up 524 points coming up on today's show, tech investor dan niles joins us to weigh in on the wild swings we've seen in the nasdaq over the past week and how rising rates are hitting his investment decisions. plus, shares of adidas higher today after announc

welcome to "power lunch," everyone happy friday the dow and s&p 500 positive for the week but the nasdaq on pace for a fifth down week in the sixth. let's go to bob pisani for more. bob? >> hello it's back again. this reopening trade has kind of waxeded and waned in the last couple of weeks. it's all the cyclical sectors. steel stocks, energy stocks, global stocks, copper stocks, for example. industrial stocks. home construction. that's the reinflation reopening trade. they're all doing better today after a rough week the thematic tech etfs back up today. we have a broad market advance why tech's doing well and the reopening trade's doing well so everybody loves the lithium stocks and the 5g stocks and the robotic stocks doing well. what's not bouncing? cathy wood, ark innovation another down day can't get a break right now. the s&p, ra thel is right we are positive for the week and the rotation from the tech names, the big growth tech names into the cyclical values continues and then rotating back and forth into the different sectors keeping the market held together another tough day fo

red for the nasdaq, down 200.claims that they may have misled investors about production, timing and orders. lordstown doesn't have a product yet, but they still claimed they had orders for it. down 9% this morning after a sharp drop in previous sessions, $13 a share, lordstown motors. >>> now then, let's get to the banning of certain views on campuses. my next guest was scheduled to speak at duke university. climate activists and professors tried to get the speech canceled. with me is bjorn lomborg, mild-manneredded, soft kind of guy, good man. he's an environmentalist. i mow that you were eventually allowed to speak, but you take me back. why did they object to you speaking in the first place? >> well, good to be here, stuart. so my sense is that a lot of these guys just don't want us to hear the real arguments on climate change. look, climate change is a real problem. but if we keep telling people this is the end of the world -- which a lot of people actually believe -- we are likely to waste enormous resources

your nasdaq in the u.s. flying up 1.8% on the nasdaq 100. looking good.loomberg. ♪ ♪ >> bound that's coming as we normalize -- there's a huge bounce that's coming as we normalize. >> the propensity to spend is very high. >> this is just a pause and what should be a broader dollar weakness. >> inflation is going to be a burst in the next 12 months, and then it is going to come back down again. >> fed policy inevitably is going to shift. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: an ecb rate decision 45 minutes away. good morning. "bloomberg surveillance "bloomberg surveillance this is, -- this is "bloomberg surveillance," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. we are flying on the nasdaq, up by 1.6%. up about 0.6% on the s&p 500. president lagarde a couple of hours away. tom: the ecb front and center, but

about the same points, 38, and so symmetrical up and down trade towards upper range right now, and nasdaq is underperforming, and 12,712,,763 for the high, a now the drop of the s&p 500 is down about 38 there and down as much as 13%, so the nasdaq is a focus here. and one other place to watch, and you mentioned the energy stocks, and the oil prices are continuing to climb, and it seems that the opec countries are not doing what we thought they would do. and over six months, the 50 to 51% gains of the energy sector, and meanwhile, it is up 10 to 11 percent, and 5% off of the crude price, and up 50% of that price as well. and the arc etfs and the ticker nkrtk, and it was down 33%, but when you have tesla, square, teledoc and roku and some of them have taken hard on the chin, and we will see the arkk can find the footing here. back over to you, brian. >> yes, good stuff. yesterday on the opec press conference and virtually i asked the saudi minister if he has a message for the u.s. energy and he said the era of drill, baby, drill is over. he does not see the oil prices coming back. and so no

and look at the nasdaq. i want to punch up if we can, i'm calling an audible here, the top five laggards for the nasdaq. you've got baidu, libre, lululemon, align technologies. this is a broad-based nasdaq selloff, and this is just specifically that we're looking at tech stocks or stay at home stocks, although those are getting swamped as well. we're going to the take it to our floor show traders in this just a minute to see how much worse or perhaps slightly better this gets, but we've already enduredded about a 370-point swing from peak for the nasdaq. breaking news, capitol hill still wrangling over the details of the $1.9 trillion stimulus bill, but the senate is apparently minutes away from preparing to begin debate. we've got the live picture here of the senate floor. just who will get the $1400 checks at issue as republicans question the billions of dollars headed for the states which actually have had improving budgets. we're get up -- we'll get up to the minute status live from the halls of capitol

we saw the nasdaq down. that looked like that would be the theme for asia, until we heard reports of the chinese state national team that had come into the market to support the markets. certainly, the chinese market bounced back rapidly. and that unwound early-morning price action. just in the last hour, chinese stock markets have closed very heavily. anna: we are getting into that conversation. we will talk about what's going on in the asian session. that's get to breaking news we have in london. 7:00, we get a lot early. aberdeen's grill -- growing the second half of 2020. the latest commentary coming from the business, under a relatively new ceo. adjusted pretax profit at 487 million pounds, that is above the estimate of 405 million. they say they remain committed to delivering sustainable dividends, and we will focus in on the dividend after the conversation that the ceo. we will speak with the ceo of standard life aberdeen at 7:30 am, u.k. time. we have had insight into what's going on with the asian s

both the s&p and dow are higher for the week nasdaq and russell sharply lower. 26% of the u.s. population has received now at least one dose of the covid-19 vaccine. case counts are still rising in some states. up next, we'll talk to dr. scott gottlieb about why and what it all means for the reopening of the economy. we'll be right back. sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ all the things, all around you where you learn, work, and fly we help make them healthier. we are the people of abm. for more than 100 years, we've been a leader in making spaces cleaner, from the things you touch to the air you breathe. today, more than 100,000 of us are innovat

that's one of nasdaq's core beliefs is inclusive growth. when we talk on this international women's day, we cannot talk about the role nasdaq can play in shaping some of the policies around more women not just in the investment community but also in companies as part of the whole process. what is your thought on the policymaker side of that, the regulatory side that would create a more inclusive environment as we come out of this pandemic? >> we filed a diversity proposal at the sec back in september and we had close to 200 comments from the institutional asset management community and a lot of the large pension funds and associations. we actually just recently refiled an amendment to make it easier on these companies but the idea was to just have transparency around board diversity. the investment community has already been driving. i think every public company gets questions about the board diversity anyway so it's a matter of making that information transparent in a clear way. when you look across diversity at all levels, i think the mck

nasdaq using. we sell those sectors that have done so well in recent months so that is the picture we have in terms of equities and fixed income story. 1.56 is the yield on the u.s. tenure. the oil story, there's a lot to talk about this morning. u.s. and european futures pointing to the red or fairly flat in the u.s. after jerome powell tried to reassure market that monetary support will be maintained. the fed's chief vocus is on maintaining employment. let's get into that markets conversation with laura cooper, macro strategist. good morning to you, laura. i said, as you were on the bond market. is that what it feels like, a green light to continue the bond selloff? laura: powell said, essentially, the bar was so low for market disappointment, he did acknowledge the rate volatility has caught his attention. that is something we saw from earlier in the week but ultimately, he is quite comfortable with these rising yields because they reflect up the growth prospects so the central bank is comfortab

you see it in the nasdaq. nasdaq 100 futures up 0.7%. you see it in the bond market.ou also see it in for an exchange. in g10, the outperformer through much of this morning has come from the swissie and the japanese yen. euro-dollar $1.1912. it's this ongoing spat between the eu, the u.k., with astrazeneca very much in the middle of it all. lisa: the u.k. definitely looking much better than the eu when it comes to vaccine distribution. fed speak kicks off today. and :00 a.m. -- at 9:00 a.m., we have chair powell speaking at the innovation summit. i want to hear what he has to say about bain capital relief. why were they suddenly rolling back there exemptions that allowed to hold more treasuries, not without any additional cap on their balance sheet? it seems to go counter to their desire to keep real easy monetary conditions while in lau i -- while allowing inflation to run hot. today, secretary of state antony blinken is expected to meet with more leaders. expect them to talk about the rollout and collaboration tackling the china summation. at 10:00 a.m., the u.s. fe

you have the nasdaq down 1%. right in the middle the s&p threating out to not much movement meting around the highs. yesterday made a marginal new high, close to where it was exactly one month ago today. that has the look of a perhaps completed pull bag maybe it is going to end up being kind of more of a trading range sideways we will see how it goes. so far, treasury yields going up miking another cycle hi today, 1.62 plus on the ten-year note it has the sector rotation really active. so far the market is absorbing it even though tech is a little bit wary of what's going on. look at tech versus banks over the last several months. it is a familiar pattern this actually goes back a year so many of the charts we look at right now have an inflection point there. this was actually january. even further back than that you have this october 30th moment when things really flip and you have an extra afterborner once the senate went democrat people priced in -- >> banks in particular and other value stock groups are start