almost $300000000.00 people stream music via spotify each month that gives the market leader a detailed picture of uses listening habits today music lovers can also enjoy streaming music videos and concerts in their homes and on their mobile devices and these services are rapidly growing in popularity computer game developers are given a platform to harvest as well and spring us rep of travis scott to showcase the brand new trek live in fort myers a hugely popular multiplayer game. is the big moment given recent hip hop fans have been waiting for action gunshy one virtual travis scott saying there's a multiplayer gaming fortnight to perform live in from the one to 12000000 players the largest crowd ever to attend a virtual concert like this. take. for gaming the music industry's cross over the tracks to try to get groups in one mini games now feature cool certain tracks you need dance moves and virtual in game concerts because china i'm sure someone with. interests on streaming platforms like apple music these and spotify dominate the music market today raking in huge sums of money and

i feel terrific about it spotify has more upside. don't be greedy but they have really gotten it together. much more -- actually, they never did have it together the shareholder base didn't. >>> much more "mad money" ahead. check point as you think about heading back to the office, i'm asking check point's software what cybersecurity's new normal will look like and it's not great. >>> new highs with old favorites, i'm counting down the stocks that have recently hit new highs and giving you my take aways why that happened and all your calls, rapid fire tonight's edition of the lightning round is stay with cramer. at cdw we get you want happy, productive employees. well we've made our office pet friendly. [ bleat ] [ cooing ] maybe a little too pet friendly. well you know cdw can design a mobility solution with light powerful devices from lenovo to make your people more productive in or out of the office. anyone have any questions before we go? that's great cause i really need to get out of here. snake people are freaking me out. hey s

they don't understand it spotify is up today. zoom and teledoc are getting hit. this is part of the lunacy in the market they will continue to trade on the fundamentals going forward the momentum in the fundamentals regardless of valuation because you can't put a valuation on these. in a market correction, they are the first ones i would go do short. >> the stock is up almost 50% in a month. the other question, shannon and we got to take a break can the tech market more broadly withstand a major correction in some of those names? if you have a tale of two markets, let's say within the tech landscape, you have the big five and you have a lot of other names like spotify, can the overall market withstand major correction to the high flier part >> i believe it can. i think there's two different types of technology right now. there's two different types of stocks in that sector. i see this in the smaller companies. >> we'll take a quick break. the big etfs to watch today and a reminder, you can watch or listen to us live on the go on the cnbc app we're back after this

. >>> up next, stick with spotify. the stock climbing 30% this week after they inked a number of high profile deals we'll speak with an analyst who set a street high price target on that stock. it's up 3% again today [squeaky shopping cart] [sniffing] is the salmon wild-caught? she only eats wild caught. [cash register beeps] uh, i need a price check on honey. don't get mad. get e*trade and get more than just trading. investing. banking. guidance. and their financial well-being. since our beginning, our. business has been people. it's evident in good times, with decisions focused on the long-term. and crucial when circumstances become difficult. that continued emphasis on people - our advisors, associates, clients and communities gives us purpose, strength and a way forward. today. and always. the covid-19 pandemic is creating food insecurity on a scale not seen in decades. an estimated 54 million americans will struggle with hunger. ♪ with 200 food banks and 60,000 meal programs, feeding america is the largest hunger-

spotify will make spotify available for customers to stream on xfinity platform. spotify. it is up about almost, more than 2 1/2%. comcast is up 2.25%. now those customers on comcast can use voice commands on the remotes. that begins today to use spotify. next few days, all x one customers will get the whole shebang. much of streaming on television is definitely on the rise especially with more people working from home. comcast supports other music services like amazon prime service and pandora. look atcompetition, xm sirius is a stock to watch. look at the dow you. up 159 points, liz. it's a good market day. back to you. liz: yeah. good, we'll take it. cheryl, thank you very much, cheryl casone. talk about climbing out of the abyss, look at crude oil, and price of oil right now. it has scratched its way out of a negative 40-dollar a barrel price just a few weeks ago to the highest level, well, why does it say unch? we know it is about $40 a barrel at the moment. we will get you the exact price? can somebody get me the exact price? okay. let me look. we have oil a

the all new way you can now use spotify. you're watching "today in the bay." >>> at 4:40 a cool, refreshing start to the day after some of us have to deal with some really hot temperatures yesterday. so right now oakland and livermore at 60 degrees. we're at 55 right now in santa rosa. we'll talk about how hot it gets this afternoon coming up. >> kari, i checked on the issue for highway 17. it looks like a disabled vehicle at the camden avenue on ramp. then you notice slowing also on the same map where the orange to the south on 87 away from the heart of silicon valley. right now we'll see what's going on in the world with business with leslie. >>> good morning, i'm leslie picker at cnbc headquarters. here are today's top business headlines. wall street will try to add to the gains this morning. the dow snapping a three-day losing streak while the nasdaq rose for a seventh straight session, its longest stretch since december led by a rally in big name tech talks like apple and microsoft. in focus today a report on new home s

. >>> spotify soaring today to a new all-time high following a report that spotify has signed an exclusiveeal with kim kardashian west for a podcast exploring her work with wrongful conditions dc comics stock has gained more than 70 prn% this quarter big things happening at spot apparently grass owe, wh grasso what's your take? >> it's nosebleed territory. the viewer can do whatever they want because the exit is up to the customer when you look at podcasts, the headwind that spotify had was amazon because if amazon got in here, it was going to kill everybody else in the space. that doesn't seem to be happening. when you look on a chart, we're not out of gas just yet but it speaks to the positioning here that no one thought it would rip this high this fast. i saw unusual option activity about a week ago that's why i bought it i'm staying long just a little bit longer. >> guy, quickly on spot, your thoughts >> great call by steve if he says take the money and run, you have to listen to him >> check out shares of kroger falling into the red today shares of the grocery chain are up more than 5

also has a podcast called back to school with maz jobrani which is available on apple podcasts and spotify the estimable mr joe brought in how are you much. good dennis thanks for having me man how you doing. groovy man and i like the fact i'm always intrigued when i see people doing everybody's pulling in or in the fight against copa 19 and when you do stand up at home do you stand up i guess that's the question i'm so used to standing up you have to stand up at home you know i was at 1st i was a little hesitant to even try it and i got approached by some people to google and they said listen we'll do a show and we'll ask people to donate money and google will match it so find a charity that you like salute charity i'd like to solicit do it and i will tell you man it was a trip because you know it's comedians we're used to performing in front of a live audience in trying to read what's on their mind how they do it what are they thinking well right off the bat i said i don't need to worry i don't need to think about what you're thinking because you can comment and design chat on the side i

coming up, a music industry legend and former spotify exec troy carter. gonna hold on promoting you this quarter. cool? drop the taco. get in the car. does this sentra feel like a compromise to you? wait, what...? the handling is good, right? no compromise there. nope! watch this... umm... b-brie...brie brie! rear automatic braking. so if this nissan sentra isn't gonna compromise, why should you? you're right! atta girl. the all-new nissan sentra. with more standard safety features than any other car in its class. with more standard well as to how a have reverse mortgage works. people think that the bank takes your home, but that is not true. that's absolutely 100% wrong. the home is ours. we can sell it if we want to at any time. i like the flexibility of not having a payment, but i can make the payment if i want to. you're responsible for keeping up your property taxes and you're responsible for paying your insurance on the property. for us, it was a security blanket. the value of our house, was to fund our long-term health care. for years, reverse mort

spotify is touching 250 million subscribers around the world.iven 130 million of those are what would be considered premium subscribers. again, i think there are so many things working in their favor. spotify, i think they are finally having an epiphany moment and people will finally realize their connection to people around the world. stuart: real fast, could you now call or at some point in the future, are you going to call spotify a new big tech? >> i will. i think, look, if they can jump the shark and in this case, not using it in the pejorative term, i think if they could ever get into video, look, they could become similar to the netflix. i think they would act more like park ranger than gate keeper like netflix does. i don't know about you but i tune into netflix, i can't really find anything to watch. i think spotify, they are really building an ecosystem for consumers. they really understand what consumers want to watch. they understand their cohorts and that's really going to help them with their ad buying. i really see connected cars,

we're big fans of spotify at home i think some of the other people on our set are, too.ef content officer, dawn, thank you. >> thank you so much, jim. thank you, dave and carl >> carl, back to you >> all right jim, thanks so much. obviously markets down once again after a down day for the nasdaq yesterday snapping that 8-day win streak financials threatening to go green as well as energy. we're back in a minute when the world gets complicated, a lot goes through your mind. with fidelity wealth management, your dedicated adviser can give you straightforward advice and tailored recommendations. that's the clarity you get with fidelity wealth management. wherever you make go, lexus will welcome you back with exceptional offers. get zero percent financing and make no payments for up to 90 days on all 2020 lexus models. experience amazing at your lexus dealer. experience amazing i geh. common bird.e. ooh look! over here! something much better. there it is. peacock, included with xfinity x1. remarkable. fascinating. -very. it streams tons of your favorite shows and movies, plu

that is how it worked with spotify, the division of corporation finance, very constructive feedback andlogue, because their goal is to protect investors, and so they want to make sure they are working with us to develop a process that achieves that goal. it took about a year and a half to get that done. we are working on this iteration, and they are more about how this actually comes to market, how this gets priced, how do investors know what to expect that morning, for my price level, range perspective, and how do we know that that interest gets satisfied? there mechanical issues we are working on. i do think we will see a direct listing to have the ability to raise capital at the same time of the listing in the not-too-distant future, and there are some companies that have been asking about it, too, because they are interested in pursuing that path. building on the innovation -- we have seen over this period of time that during covid-19, when the markets have been very turbulent, you have seen a permit is number of special purpose acquisition corporations, which are management teams r

this is a major win for spotify.d a $100 million deal with joe rogen for his podcast to go to their services and now batman, superman, joker, they are coming to spotify as well. there's an exclusive deal between spotify and warner brothers to bring the dc superheroes content and super villain content to the platform. now you have spotify versus apple versus google's youtube when it comes to really making money in the podcast space. stuart: super hero podcasts. now i have seen it all. look, if you can get paid that kind of money, i'm all for it. that's a fact. all right. thanks, lauren. lauren: they say they will use the platform to test ideas for new movies. stuart: what's wrong with that. how about some competition in the auto industry. watch out, tesla. what's this about ford? its own auto pilot system? what's that? susan: it's called ford's new active driver assist. it will compete with tesla's auto pilot and general motors' super cruise system. the active driver assist will control speed, braking, steering throug

kardashian-west joining other podcasters at spotify including joe rogan and the ringer spotify sharesack to you. >> on the podcast front, are they exclusive only or are they still have a library of podcasts which are not exclusive to them but clearly shifting the position and strategy on that front? >> for warner brothers and d.c. comics, these will be the first narrative new original podcasts. they will be created for distribution exclusively through spotify. i think it's really interesting. we look at the subscriber base of something like disney plus. there is also a marvel app you see warner brothers placing a big bet on that partnership. >> julia, thank you. mike, to me, it is such a -- such good timing here for this kind of deal for kim kardashian to do a podcast about, you know, criminal justice reform where she is focused on and talked to president trump about where there is an intense focus now on racial injustice in this country. there is the female audience she brings, right, to podcasts how are investors looking at this they brought in big names. >> i think there is general

we showed a graphic about spotify. we did a lot of online shopping. they may have seen when they hit transact, the website clicks over to a spotify or shopify domain as well how big is shopify business getting and the flow you are getting to shopify, he said? >> shopify's revenue is up over 50% over the last year which is enormous they provide the infrastructure behind the small retail businesses to sell on line many people probably heard about the war between the big companies and small during the stay-at-home economy where the economies with the huge apparatuses are just beating the smaller companies that can't really transition on line. shopify is enabling them to transition on line faster. if you look at the entire small business world, that is shopify's business model the potential is enormous. we've seen very strong returns and strong revenue in growth it is just scratching the surface of this market >> you don't know shopify personally, do you we'll do the disclosure verbally >> we own it in our cloud computing etf, we do >> thank you shopify,

that's before things like spotify and uber existed. these policies are basically from a different era and they all agree there needs to be some adjustment here. is also facing antitrust scrutiny in the united states. facebook,rberg of sunder pichai, all of them have said they will testify how big a risk is the scrutiny? not just about europe, but in the united states as well? question.'s a good nine out of 10 situations regarding apple and antitrust are not necessarily an issue. they are not the market leader in any particular area for hardware. problem is on the app store he can -- and the concern is that apple has their own services that competes with services like spotify and dropbox etc.. apple, obviously, has nobly to get a 30% cut to. -- has nobody to give a 30% cut to. i think it will be a change at some point either reducing their rates or allowing competing services. there are ways around this. long-term, what hardware revenue is still strong and we have other things coming down the pipeline that long-term will not be signific

his podcast available on spotify. --n we first book do you when we first booked you, the idea was to get your reaction to the george floyd killing. broadly, your reaction to what you have seen in the country? >> it is heartbreaking. i grew up here. my parents were the first integrated high school class, so it is really personal. we keep seeing these shootings, and indifference to black life. we are now at a tipping point. 400 years of tragedy and confluence of factors have come together and they will not allow us to ignore it. difficult video to watch a george floyd under arrest, a police officer with the knee on the neck of george floyd for almost nine minutes. obviously there is foaming going on. -- filming going on. it surprise you that these tactics still exist in american police forces given the presence of social media, changes of leadership and police forces, and promises to change forceses and u.s. police ? prof. samet: you would guest: you would think with cameras people change attitudes but we are seeing the

and daniel ek from spotify falls into that. don't know of anybody at warner music who will be able to make a transcendent product that connects with consumers. i highly doubt it. you very rarely see someone who's not a founder make a product that the world falls i love with. so i like to look for the companies that are going to be gigantic in ten years and will continue to exist. and i would not put warner on that list. >> jason, it's morgan. speaking of founder authority, facebook, obviously -- >> oof >> -- a hot topic of debate and controversy right now both within the company and within society at large i want to get your thoughts on that, especially given the fact that i did see your tweet about funding of potential alternatives what details can you give us on that front, too? >> yeah, well, i have never trusted zuckerberg i think he's bad for the industry i think he's bad for society and we've proven that out. he does not have the moral compass or just really the ethics or morals to run something at this scale. it's not in

i like spotify because i thought people were using it at home we had an outside safe party you're okay. one of our places has it whatever i like your reasoning. today was very encouraging but remember, this market loves veering from one extreme to another. three months into the pandemic is the parent of burger king, popeyes still sizzling >>> boeing completed the first test flight of the 737 max what does that mean for honey well i got the ceo and with some economies reopening and some on pause, i'm giving my covid-19 index a little re fresh. you don't want to miss this so stay with cramer >> announcer: don't miss a second of "mad money." follow at jim cramer on twitter. or give us a call at 1800-743-cnbc. miss setngomhi head to madmoney.cnbc.com. dear fellow business leaders and technologists, i see all the amazing things you have been doing. you are transforming business models, and virtualizing workforces overnight. because so much of that relies on financing, we have committed two billion dollars to relieve the pressure on your business. as you adapt and transform, we're here with

finish plus, when to jump on a stock that has gone parabolic like spotify this week. i've got all-star analysts lined up. meanwhile, the texas governor blaming increased cases on more testing. is it time to press pause on reopening. also, what's the deal with the ppp money that he took? and, of course, today juneteenth, and the calls are louder than ever to make it a national hospital. what i think this means for our nation. all that and so much more on "making money. request". ♪ ♪ charles: so this week has seen extraordinarily light volume, a negative breadth which has been masked by these innocuous closes, right? down days nothing dramatic. now, one dilemma i think particularly for institutional investors is getting forward guy dance right and valuations. it's certainly understated right now that earnings are going to be a lot better than official wall street estimates. now, in a different environment the current valuations would certainly be a major deterrent. many old school investors are hesitating. one thing are these yields across the board on stocks, bonds and

joining me now is spotify's chief content officer. thank you so much for being with us today, dawn. he appreciate it. because people are stuck at home, they're consuming lots of media, netflix, hulu, and the like. has the pandemic been a good opportunity at all for spotify's podcasts and have you shifted your strategy? >> what we've seen is that the users just consumption habits have changed and shifted. so where many users would listen to podcasts in their cars when they were commuting, now what we're seeing is that users are actually listening on their home devices, listening to it on their television sets or listening to it even on their gaming consoles. but we still see people listening to their podcasts as they're working out, we're seeing them listening during the day. so it's been a shift in pattern and yet i think once things return to normal and people wind up commuting again, the habits that they're forming now will stay with them. and it just allows for even more time for them to consume podcasts in different times and ways in which they'll do that. >> you guys took a pre

. >> thank you for having us >> after the break, a boom for biotech and spotify hitting new highs.e you inside "the market zone." less than 15 minutes left in trade. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. talk to your financial professional or consultant you say that customers maklet's talk data.s. only xfinity mobile lets you switch up your wireless data whenever. i accept! 5g - everybody's talking about it. how do i get it? everyone gets 5g with our new data options at no extra cost. that's good. next item - corner offices for everyone. just have to make more corners in this building. chad? your wireless your rules. only with xfinity mobile. now that's simple easy awesome. switch and save up to $400 a year on your wireless bill. plus get $200 off a new samsung galaxy s20 ultra. yeah, everything is runningis smoothly with the now platform. (bling) see, incident resolved. how did you... go

the second thing is this is not just about those five stocks spotify is up 36% in the last five trading days. you're looking at moves in zoom, shopify. these are parabolic moves to the upside in all sorts of technology names and as evidence of that, you take a look at the qqew, this is equal weight tech etf. i have been talking about it for months now just like we're seeing an all-time high in the nasdaq, we're seeing that index, which equal weights everything in the nasdaq 0.5% away from an all-time high. kweb which is chinese large cap tech that's all at all-time highs so, the isis is not just about e fed and what the fed is doing to u.s. stocks or something that is u.s. centric technology companies around the world are exploding higher i could point to latin america and on and on. >> i wonder, rich saperstein another f word and that's froth. i get the reason why the big five are all up, but this incredible parabolic move as josh points out in spotify, shopify, some of these other things, is this a warning sign or is it just simply a sign of where the money is going, momentum is with

shares of spotify going up announcing new deals with podcasts and also kim kardashian west don'gonyerback. you can't predict the future. but a resilient business can be ready for it. a digital foundation from vmware helps you redefine what's possible... now. from the hospital shifting to remote patient care in just 48 hours... to the university moving hundreds of apps quickly to the cloud... or the city government going digital to keep critical services running. you are creating the future-- on the fly. and we are helping you do it. vmware. realize what's possible. cool? drop the taco. get in the car. does this sentra feel like a compromise to you? wait, what...? the handling is good, right? no compromise there. nope! watch this... umm... b-brie...brie brie! rear automatic braking. so if this nissan sentra isn't gonna compromise, why should you? you're right! atta girl. the all-new nissan sentra. with more standard safety features than any other car in its class. >>> welcome back the dow and s&p have dipped back into negative territory. the nasdaq is holding on to some gains. and tele

stacey: with spotify, it took us a year and a half to get through the sec, very constructive feedback dialogue. because their goal is to protect investors and so they want to make sure they're working with us to develop a process that achieves cycle. it took us about a year and a half to get that done. we are working on this iteration. and they are not substantial issues. they're more about how does it come to market? how do investors know what to expect from a price level, a range perspective? and how do we know that all the interest gets satisfied? moreere are really mechanical issues that we're working on. i do think we will see direct listings have the ability to raise capital at the same time their listing in the not-too-distant future. we've seen stacks. we've seen over this period of time during covid-19, when the markets have been very turbulent, we've seen a tremendous number of acquisition corporations, which are management teams raising money, ipo'ing without having business operations yet, but planning to acquire a business. i think the fact we've seen so many come to mark

zoom is taking aaway from the hospital sector, from the entertainment sector spotify is taking away from broadway, from everything sports, everything you would have done otherwise. at some point there has to be a bit of a reckoning >> i want to get to guy, but on the point bubble, bubbles are only a problem if it poses some sort of systemic risk to the market i don't care about an individual bubble in a name like zoom if zoom pops, presumably it's because the other parts of the economy have picked back up, so people are off of zoom and going to sports and concerts and shopping and all that stuff. >> not exactly i mean, when you have pockets within the stock market that are very susceptible to valuation shock, there's a lot of negative things that could happen once those stocks start careening that's what the 2000 nasdaq bubble pop told us that put technology in a recession for years. i think it's very easy to be cavalier about this sort of thing, oh zoom is only a $50 billion company trading at 40 times sales. that's kind of abnormal. i just heard howard marx say the s&p 500 trading at 2

you can follow his podcast available on spotify and apple podcast. thank you for being with us this morning. >> kayleigh mcenany, white house press secretary, will give an update on the protests in u.s. cities after the death of george floyd. we will have live coverage. a portion of this morning's "washington journal" while we wait. host: we are joined by armstrong williams, longtime tv host, author and commentator. thank you for being with us. guest: thank you for having me. host: we started our segment with michael hopkins. we asked both of you on to talk about the reaction last week to the death of george floyd at the hands of the minneapolis police. as the protests have grown, the civil unrest and rioting has grown. i want to get your reaction overall to what we have seen, particularly over the last three days. of america isuty our right to protest in a peaceful way. the majority of the protesters are very peaceful. happenedent than what when you had a terrorist attack on the church in charleston. members of that community, even though they thoug

the ceo of spotify came up with the idea and brought it to us. slack was the second company to choose that path for their public listing. we are building on that money -- where we have been building on that model is to allow for capital raising. the direct listing separates the timing, decouples capital raising from going public. you can choose to go public but not necessarily raise money at the same time. the two have taken that path. now what we are working on is what if you want to raise money at the same time but would like the exchange in the process of opening that morning to determine how the offering gets priced. that is the phase we are working on right now. we filed the first iteration in december we work productively with them on questions we had. this most recent filing which we submit it on monday answers mechanical questions on how that offering will be priced in the morning, how gets entered into the market as an order, and what measures need to happen that morning to get that live and public. we have been advancing that ball so we

the ceo of spotify came up with the idea, brought it to us. we rolled out the first one.mpany chose it public listings -- for their public listings. it allows for capital raising. what the listing does is it separates the timing, decouples capital raising from going public. you can choose to go public, but not necessarily raise money at the same time. the two have taken that path. now, what if you want to raise money at the same time but you like the exchange and process of opening that morning to determine how that offering gets priced? that's the phase we're working on right now. we filed the first iteration in december and we worked with them on questions we had. the most recent question answers mechanical question on how that offering will be priced in the morning. how does it get entered into the market, and what measures need to happen that morning to get that live in public? and we've been advancing that ball so we continue to work with issuers and investors on having another alternative to the market. in theu -->> you're middle of this process. but from your persp

the cfo of spotify came up with the idea, brought it to us. we rolled out the first one. slack was the second company to choose that path for their public listing just over a year ago. we have been building on that model is to allow for capital raising. with a direct listing, it separates -- you can choose to go public but not necessarily raise money at the same time, so the two to date have taken that path. now, what we are working on is what if we want to raise money at the same time but we would like to exchange and process of opening that morning to determine how that offering gets priced. that is the phase we are working on with the fcc now. we filed the first iteration back in december and we worked productively with the questions that we have. this most recent filing which we submitted on monday answers mechanical questions around how that offering will actually be priced in the morning, how it gets entered into the market as an order, and what measures need to happen that morning to get that public. sohave been advancing that that we continue to work with issuers

a little taste of spotify's playlist celebrating black musicians and up ahead in "binge this," news andpective in these times. >>> first, the headlines we're following right now. dozens of protests against racial injustice and police brutality being held today on what will be the 12th straight day of protests across the country. overnight protests in dozens of cities, los angeles, denver, chicago, miami and many more. the nypd arresting protesters in itooklyn hoursy's e expecting the largest protest yet since george floyd's death. >>> some surprising and promising economic news. unemployment numbers expected to go up, actually went down as some 2.5 million jobs were added during the month of may. much to analysts' surprise, unemployment fell to 13.3% down from 14.7% in april. >>> the world health organization issuing new guidance to stop the spread of the coronavirus. the w.h.o. is now recommending that countries where the disease is widespread ask everybody to wear facial masks in public where social distancing is not possible to help reduce the spread of the disease. the w.h.o. also s

like softly best play list resuming spotify. when our president bridging the detector was elected the campaign machinery that helped elect him how was weaponized and went after anyone who was critical of the drugg war and also journalist in particular were targeted. thisis is more for troops a and the biggest casualy in the war for truth is how many people have been killed in the drug war. i'm at the front lines i feeling i know it. i have the data to prove. here's what happened in the philippines when facebook looking to toxic i watch alexa ranking every day which is a websbsite ranking of all the- wy the people the *-* go. and before. it's lxx. . this dadaughter. and yet you have a r lexus how can you plan for the future of what we can become if you don't try it part of the problem with the old power right now is they don't understand new technology and part of the problem with the people who build the new technologies they don't understand. old power that's what needs to merge. facebook changed. and in the phippppines it. is

we've got spotify up 12.8%. that's a record high. $225.47. >>> to the markets overall. the bulls and the bears have been battling it out all day. the bears with the edge right now as investors balance fears of a second wave of coronavirus with the reopening of the economy and the optimism that really comes with that. but the major averages, we should point out, are still holding on to very impressive gains from their bear market lows back on march 23rd. look at the dow. it's still up 39%. the s&p still up 38%. again, this is from the low, march 23rd. the nasdaq is a rock star here. it's up 44%. a long time highly respected wall street voice, though, looking at those great numbers, but also now floating what he sees as six risks he believes you need to be prepared for if you own stock. before we tell you who he is, we will unveil his six fears that he outlines. top of the list, a second wave of the coronavirus. we have been talking about that a lot. close second, disappointment on the vaccines that are being developed. number three, congress fails to pass further stimulu

and then the stock of the day is spotify hitting a record high up 13% off the highs of the day after it inked an exclusive deal with kim kardashian west to host a new exclusive podcast centering around kriccriminal justice reform and remember a lot of headlines, dwrenkt listin direct listing, not an ipo, april in 2018, that reference price 132 bucks a show for the ipo-ish. big move for spotify >>> and take a look at the performance of the five biggest stocks they are doing the heavy lifting. so how worried could investors be about the top heavy market? michelle and lorain are joining us great to have you with us. we've been in the state where the five biggest companies have been the leadership for the past couple years, so why is it concerning at this point in time >> technology is the way of the future and we know that. and that is why we've seen such a run none technology. but we'd like to see a more broad based market recovery.non. but we'd like to see a more broad based market recovery. and that is why i'd say to think about looking at some of the names or some of the areas that

to look at these things and say, this is incremental positive i don't know maybe i'm too positive spotify0 it was at 140 five days ago. >> wow there's a name that's funny that i had not -- i had not looked at in a bit spotify up another 7% to 240, as you say. it doesn't that long ago we had daniel join us, the company's founder, ceo, that was the beginning, i guess -- >> you gave you a road map he told he was going to have celebrities doing podcasts and that's what they got and now they got the car back. we haven't even mentioned tesla. it's 940 i apologize to the american public but there are just stocks that are -- i'm sure the 1999 crowd is saying that's what we have here but i come back and say, look, if the fed is backstopping everything, it's very difficult for a stock to get crushed should carnival really be alive after what happened in yokohama? >> your point is a good one. the 1999 crowd, reporting on it during that time, '96 was greenspan. >> irrational. >> and then we had another 3 1/2, 4 years of it before we hit our highs in march of 2000 spotify up -- >> people didn't like t

this is what i think is now going to happen in addition to the spotify vertical move, the shopify of vertical move we're going to see that broaden out to health care plays that have growth. we're going to see that broaden out to other consumer plays that have growth, not just tech, and i think that's what you want to see in the market now. i'm perfectly okay with that. >> forgive me for stepping on you there. i'm going to give you names and tell you what the performances have been. let me get to steve liesman with breaking news, and we'll get back to the conversation hi, steve. >> hey, scott, some important information about banks and the federal reserve and stress testing. the fed is adding or has added an additional stress test scenario for covid-19. it's going to test the capital distributions, shares and dividends against a v-shaped recovery, a u-shaped recovery, and a w-shaped recovery, in other words, a resurgence of the virus. it's not going to affect capital requirements for the games the capital requirement will be set according to the regular february 2020 scenario that was

spotify has been trying to lock up a lot of exclusive deals. struck a deal of $100 million for joe rogan's podcast, which i believe is the most popular podcast in the country time to mention you should listen to our podcast which you can get on spotify behind the scenes news and access we are available everywhere. spotify, apple wherever your favorite podcast can be found >> what did rogan get? the number out there >> the number out there is 100 even on my own reporting, i think it is actually higher. i think it is actually in the 150 ish range. >> for a podcast >> he's doing a daily radio show >> i haven't decided what to do with our podcast money yet i don't have a place in florida. i haven't spent any of it. i guess because i haven't seen any of it. >> i haven't seen it either? >> you haven't either? >> i think they may based on your talent. >> both of you should have said you are getting paid really you haven't got yours. >> they pay us on the amount of talent and effort we put into it >> being able to come in and work for such a great comp

she signed an exclusive deal with spotify streaming service to discuss work on prison reform.an ohio man convicted of three murders in 1994 expect next month college will transition to a mandatory six week practice schedule. the ncqa division counsel announced a new plan that allows teams to allow 110 players in the counsel says they will help teams with debt issues due to covid-19 . >>> an early-morning swat standoff in san jose is now over. we show you how it's unfolded and who is in custody now. pg&e is set to face consequences for its role in the deadly campfire, nearly 2 years later. what is expected in court during today's sentencing . >>> a growing resistance to wearing a face mask. later this hour we talked live with kaiser permanente's national infectious disease later on why it's so important to wear a mask to help limit the spread of covid-19 . >> good morning and welcome to mornings on 2, you're looking at a live picture now of downtown san francisco, you wouldn't think that looking at a shot that amount lion would

podcasting is a very hot area now, as you can see spotify has all of a sudden taken a major interestn this, diversifying the music business or to complement the music subscribers. that's been a very hot area. we also just made investment this past week -- i'm sorry -- in the real estate area, in case you're interested. maria: and tell me about that. are you referring to leg? -- le? >> yes. it was just announced publicly on friday that lex has made an aa rangement with nasdaq that we will be able to give liquidity to real estate owners of minority interests and bring the public in as investors in small dollar amounts so that they will be able, for the first time, whether they're qualified investors or unqualified, they'll be able to buy a stock, in effect, in a real estate, in a segment of a real estate, commercial real estate property. and it'll give an opportunity for broad generic ownership of real estate around the country to the individual small investor for the first time. so we're very excited about that. maria: alan, great to see you this weekend. thank you so much for joining

listen to it as a free podcast called moment of clarity it's free every week on i tunes stitcher and spotify also you can go watch my standup comedy special for free camp american dot com i'll be right back with more. right burger. well here are the bullet points. for those of you keeping score. cities are on fire. 40000000 unemployed. in america. g.d.p. climbed by 50 percent in the 2nd quarter. of the. money is dead. small businesses are dead. and jay powell said chairman says this is fine this is fine this is flood the sign. you. go to work. straight home. welcome back i'm still a camp in case you weren't already concerned about your local police beating your it turns out they'd like to track your indefinitely to the american sales branch of an s o group an israeli surveillance company seems to be a theme of today's show is pitching us police departments on all the pros and none of the cons of their spyware for more we go to the person quarantining with all of our data natalie mcgill hello. natalie this seems like an unnecessary invasion of privacy. what no not nowadays spyware for contact