mega tech names will be important. how they react will be important of how the tech sector reacts. emily: we will be across them all, starting with netflix. chief market strategist, matt maley, thank you for your view. coming up on "bloomberg technology." tech companies in the united states starting a slow return to the office as vaccines ramped up. slack ceo joins us talk about whether a post pandemic hybrid world will be the new normal. that's next. this is bloomberg. ♪ emily: more people around the world were diagnosed with covid 19 the last seven days than any other week. cases topping 5.2 million globally according to johns hopkins university. the data showing a 12% increase in cases from one week earlier, throwing doubt on the end of the pandemic is insights. there are a number of tech companies in the united states getting ready for a slow return to the office with limited capacity. slack ceo stewart butterfield says employees can work from home indefinitely. he joins us now to talk about what the future of work could and should look like. stuart, great to have you with us.

>> particularly the big tech names tuesday, wednesday and thursday always a lot of fun when those come out. see if they disappoint netflix did this week. follow snap jumped significantly. look forward to next week. have a lovely weekend. "fast money" starts right now. >>> i'm melissa lee, and this is "fast money", tonight as trader lineup -- we're trading the tech turn around, nasdaq rallying as we gear for huge earnings, and look out below, next stop for bitcoin, $40,000, why carter weather -- worth is seeing trouble in the crypto charts and later -- ♪ >> "fast money" friend cashious is living the fast dreams, despite the nightmare month for the market we start with $9 trillion countdown of big cap reporting next week tesla kicks off monday and nasdaq a percent away from its all-time high, will next week's result lay a new fire under this tech trade? guy, what do you say >> hi, mel. >> hi, guy >> well, light a new fire, i don't know if the old firefly fun hous don't know if the old fire has been extinguished. yes is the answer. alphabet sticks out to me. google made an all-thyme -- ti

big tech. amazon encouraging investors the company's pandemic momentum is not wayne i as the world -- is not waning as the world begins to reopen. let's get it over to ed ludlow for the details. what were the highlights? ed: the main takeaway was the outlook for the second quarter. 110 to $116 billion in sales. significantly higher than wall street's expectations. the concern is the boost to the amazon e-commerce business and its cloud business, what happens when the vaccine rollout is successful and we come back to pre-pandemic conditions? the outlook gives us a sense of the sense amazon has. that is what the street was paying attention to. you guys have a fantastic chart. 24 consecutive quarters of topline growth above 15%. in the most recent quarter, 44% growth was significantly higher than expectations. the difference this time around, costs are coming down and the bottom line is getting a big boost from aws, the cloud unit. shery: we saw the international business being profitable. that ca

these tech executives do in practice big tech controls the country and they control the country by deciding see. well said, mr. travis. i mean, if this doesn't underscore why we need to remove the liability protection section 230, i don't know what does. mr. greenwald in the same written testimony and then this about the specific question at hand in the hearing committee today. how congress sets out to address silicon valley's immense and undemocratic power is a complicated question, well, it is. posing complex challenges and the proposal to invest media companies with an anti-trust exception. but empowering large media companies could easily end up creating more problems than it solves. it goes on to say this. further empowering this already powerful media industry, which is demonstrated will use its force to silence competitors under quality control runs the real risk of running power from silicon valley to corporate media companies. this last cause is important. or even worse, encouraging some sort of de facto merger in which these two industries pull their power to the mutual benefit of

new home for tech coverage here on cnbc.th carl quintanilla and jon fortt and julia boorstin joining us as we will frequently with great reporting and interviews first a quick look at stocks tech under performing. tesla top of the s&p and the nasdaq apple lower by more than 1%. and check out bitcoin. nearing another all-time high. which julia, a good point to turn it over to you. >> thank you so much, deirdre. this week's biggest debut besides ours, of course, is coinbase, coming in a direct listing. our next guest isinvestor, in coinbase and joins us now. greylock founding partner and linkedin founding partner reid hoffman. thanks for joining us in our first show today. >> my pleasure and honor i look forward to camping the show regularly. >> now, before we get into crypto read as you sit on the microsoft board i wanted to get your take on this big deal, microsoft buying nuance for $16 billion. what do you think that microsoft's ownership could do for nuance in expansion of its capabilities having seen it yourself, having s

-china tech war right now.e think about 10% risk right now with discount tech given the view that biden was going to be softer on china, and as we have seen, it has been the opposite, so that's really going to be a fork in the road situation over the coming months. emily: talk to us about some of your other more unsung tech reopening plays. you highlight in your notes, okta, docusign, crowdstrike -- talk about some of the names we do not talk about as often that you think will surprise us. dan: i think on health care, there is a name like nuance. we will see health-care care spending increased amount on cloud. a new pure play on health care. that could be a re-rating stock, ultimately 60, $70. another name i like on the reopening is sarenza, which is an autoplay. i think it will be more and more driven internationally in terms of that almost being an auto cloud play, so i love those two front and center. and some other names on the cybersecurity side, hybrid environments 30% to 40% working from home potentially

tech predicated on the 10-year yield. start us off on that. >> well, sure. before we get to the charts, it's important to say, it's not as though tech needs to recover. tech never has been in trouble, it's just that on a relative basis the small cap was outperforming to such an extent that it looks as though tech is in trouble remember, the spread between small and large as measured by the russell 2,000 versus the s&p one month ago was wider than it has ever been going back to 1 11 197 -- 1978 except one other time so weir seeing so we're seeing exciting things as rested champions were resting now they're waking up. let's look at the yield chart. we all know yields have been in this perfect 45 degree channel like a pinball machine, every time we get to the top or bottom we react to it and as you all were articulating rates get to 1.77 and now we're back to 1.61. there's a panic for growth in tech why? before the pandemic we were at 2% and be were happy to do three to five year dcf work and give dreamy multiples to adobe,

this is going to be ahead of a slew of tech earnings and further than tech earnings, flip the boardsne more time and we have $18 trillion worth of companies reporting this week, not just tech but a lot of volatility in the week coming up. >> let's go intel, down 5%, and let's flip the board. the biggest weekly decline since october, investors word. fighting talk from the ceo of intel we will hear from later in the show. panasonic, the household electronics name, shares down 3.5% in japan trading friday. it is buying an ai company called blue yonder, that uses artificial intelligence to predict how much a product will be in demand. a useful tool to have but investors were concerned about the $7 billion price tag panasonic is willing to pay for the company. the final board to look at, big names moving in the tech space friday. apple up 2%, according to sources, in partnership with walgreens. social media on the move, google at record highs after analysts stepped back and became less worried about updates to ios from apple and privacy and add tracking measures with the update, more sang

more on tech valuations after the break.t brainstorming required a whiteboard and squeaky markers, but when you have devices that let you collaborate in real time from anywhere, the future works better. microsoft surface devices with teams, orchestrated by cdw enable employees to stay productive when working together, with high-quality audio-visual features designed for natural collaboration. so your team always captures every detail. microsoft and it orchestration by cdw. people who get it. ok, at at&t everyone gets our best deals on all smartphones. let me break it down. it orchestration by cdw. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember. i am going to get a new whiteboard. it's not complicated. only at&t gives new & existing customers the same great deals on all smartphones. get up to $800 off our latest 5g smartphones. .

for tech ipo's to go public.ike coinbase and so on and so forth. but along with that, given that we are now slowly coming out of this pandemic, there is obviously the vaccine and economic recovery, financing costs continue to remain low. there is $150 billion of dried powder among the spac's. on the tech side, there is a transformation and evolution of business models. you are seeing healthy activity on the m&a side. we have seen massive deals happen over the last years. salesforce acquiring slack, and even cross-border deals. we are seeing a very healthy progress in the m&a markets. the multiples have kept going up. markets are very supportive and conducive to continue capital growth and momentum. emily: ok, all right. information packed interview. ajay shah, thank you for giving us your outlook on the rest of the year. still ahead, what was once known as a side hustle has turned into a $2 billion industry. the sneaker market is exploding and weinstock is -- and one stock reaping the rewards. the ceo is joining

across so many of these big breakout ideas in tech over the last couple decades. thinking google search, facebook apple graph design and vertical integration, leaders often said we were so afraid that the big companies were going to come in and eat our lunch before we had the chance to get the right lead and the right moat does coinbase have that lead and moat or will they get yahoo! and aol here >> very early days in cryptocurrency higher mark still on the order of $2 trillion sounds like a lot but it's very little compared to almost all other global mature currencies i like to think about terms ow how you quantify whether someone h has -- to suck seed. developers in the ecosystem are building with and on and for them at scale. if they're doing a really good job focusing on a long-term basis along with the capital coinbase led by emily choi the most dynamic and creating an alumni network that contributes back to the system, ecosystem. develops protocol methods engaging think cryptocurrency that are deeper. a good example of ecobuilding, a market leader feature an

it, paypal is getting into the fin-tech business, walmart, i hear, is getting into the fin-tech businesshe message you guys want to give washington on thursday? >> charlie, it's really simple. all we want is to make sure that regulators create a fair and level playing field between fin-tech and other financial institutions. we want to insure that any new banking models are held to the same high standards that exist for our other financial institutions like credit unions and banks. >> right. i mean, most people assume that fin-tech is regulates. aren't they regulated by various players? >> no, they're not. the fact is many fin-techs are are taking advantage of regulatory loopholes that, quite frankly, escape supervision by federal financial regulators such as having minimum capital requirements or regular examination. and this could be bad news for the american consumer, taxpayers and, of course, the big fear is it could create systemic risk in our financial system. >> yeah, no, i get all that, but you're really telling me that -- i mean, listen, i guess i got a that go back to sofi, whic

finish tech in the past did not have enough capital to go against the banks.ng now. >> right we're seeing the valuations get higher and higher. thank you for being with us. >> thank you so much >>> after the break, disney plus sends under the circumstances customers an unfortunate e-mail. >>> plus some ideas for elon musk's snl monologue, when "techcheck" comes back to a world that must keep turning. the world can't stop, so neither can we. because the things we make, help make the world go round. they make it cleaner, healthier, and more connected. it's what we build that keeps things moving forward. so with every turn, we'll keep building a world that works. - if you want a rockstar team like ours, you need grammarly business. (guitar strumming) grammarly business turned my marketing team into rock stars that amplify our bottom line. just ask maya, who started three weeks ago. - [announcer] maya swears by grammarly business, because it keeps her work on brand and error free, fast, and easy. and we know clear and concise marketing leads to a killer performanc

tech shares leading the way in the nasdaq. tech heavy index up by more than 1%. still some weakness in semiconductors. u.s. 10 year yield a little bit lower. a fresh record for the nasdaq 100 for the first time since february 16. if you look at the middle of the chart, it took off quite a few months between september and february to get records. but this new record has come much more quickly. interesting to see the behavior of odd yields. as we have discussed on the show so many times, rising yields have put pressure on tech companies that have stretch valuations. the big story, all about crypto on tuesday. so much of that relates to the coinbase listing. $250 per share reference price given by nasdaq. that would give it evaluation below the one that the private market given in march. $350 per share, valuation of $90 billion. all of that optimism boosting bitcoin on tuesday. a little softness through the session boosted some of those crypto related stocks. bitcoin has risen to around 63,000 year to date. so much excitement around the coinbase listing. maybe this

that's decision tech, only from fidelity.f you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. which shows will you be getting into tonight? how 'bout all of them. netflix. 'cause xfinity gets you really into your shows. when one burns for someone who does not feel the same. daphne, let's switch. from live tv to sports on the go. felix at the finish! you can even watch your dvr from anywhere. okay, that's just showing off. you get all of this on x1. so go on, get really into your shows. you need a breath mint. xfinity. it's a way better way to watch. >>> time for a gut check on twitter. shares are plunging after the company reported first quarter earnings that beat on the top and bottom lines a miss on monetizeble daily active users alongside weak guidance, the company cautioning it saw several headwinds ahead ranging from apple's privacy changes to costs and expense

company but every company is not a good tech company, right.every company actually makes money off its technology one of the ones that does, maybe the most, is apple they've got that event next week on tuesday we are expecting ipads but it is an ecosystem story for apple as always in recent years there hasn't been a bigger ecosystem year than 2021 because of how they're trying to incorporate their own homegrown chips across their product line, not just in mobile, also in macs don't necessarily expect to hear from that next week, but, hey, carl, we might >> indeed, jon in fact, you know, we have to watch the chip shortage as well. kansas city southern is on the tape today saying lower demand for oil and gas, drilling pipe and metals used for autos because of the chip shortage so technology definitely pervades every element of the american economy we appreciate you viewers tuning in this first week we look forward to many, many more have a good weekend. let's get to "the half." >>> all right, carl. thanks so much welcome to "the halftime report."

well yes absolutely if you look at some of the latest tech names and i heard a story like yours it's not playing allen's here he needs your work lots or at least it is right now in fact when he says multiple income paramount as its most directly or you just. saw the 1st quarter results 9 slaughter me your average $1000000.00 and the number of monthly turns up to. 3 months earlier 6 aren't when they're up and right now because when you're not spare time you already under spent 1300 percent respectively in the last year and in the short term when you just well i meant reichert prices in the long term however earnest let me have a center of what it calls the don't economy and helping to build up a whole ecosystem in the marketplace where people actually spend there are so many analysts they're calling us directly to see a watershed moment for the industry as it's basically arrived at the street quite a ways more users and more revenues that many of the largest players there is more probable than any other major exchange so this kind of validation puts a lot of skeptics like records and

you saw the big tech heavyweights. the new york faang index had dropped by double the amount the s&p 500. the new york faang index dropping by about one point 8%. the s&p 500 down by 1.9%. small caps dropped by 0.3%. it tells you there is this disproportionate effect. the question is, you have several analyst coming out of goldman and our very own abigail doolittle saying in the long term, this does not make that much of a difference. in the short term, it could create some volatility. shery: given we saw tax receipts take a hit during covid, this chart showing that. does this make sense we are trying to raise taxes in order to pay for some of the expenditure when we have the infrastructure focus american jobs plan coming up? kriti: this does only apply to a small amount of the american population. this is also all contingent on the fact of whether we even see this get past. from a political standpoint, i am not a political reporter but the reason investors are so sensitive is we did also have a series of stimulus bill

game on with tech stocks hitting fresh all-time highs we'll break down the record moves. and career terrific -- terrifi terry duffy joins us and space etf from arch is there money to be made in the final frontier, we start off with the roaring 20's break out the bathtub records it's boom time for the u.s. economy. j.p. morgan ceo going all in on america in annual 66 page letter to shareholders, we got your back, here's the "fast money" clipnotes version of the letter. he says market valuations are high but justified due to excess saving deficit spending and strong economic growth. banks are playing smaller rose in financial system thanks to the rise of fin tech and china is on the rise america should get ready for it. bottom line, it's boom time in the old usa. so is he right guy, what do you say >> well, it's interesting. i didn't read the 66 pages i'm a cliff notes guy, as you can imagine. i'm sure you frowned on people like me in college, mel. tim's saying the same thing i've said literally in the last year that it's all come to fruition is only the horizon, it appears

we like cyclical tech. and we like the large cap tech with earnings.they think they have sufd enough. they have gone nowhere for nine months. amazon has not made a new high -- [inaudible] be careful on speculative tech though. in addition you have to be exposed to energy. it is still a cyclical recovery. we think growth is much better than most analysts are expecting. we like the imf upgrade for global growth. we think it will be higher because the u.s. will be higher. you need a barbell strategy. charles: less than a minute to go. let me squeeze this in then. since geopolitical risk isn't what it was, what is the greatest risk to this market right now? >> so i've got two for you. i have higher yields, spiking yields on the 10-year and i've got higher taxes. the market has not priced in higher corporate taxes, nor has it priced in higher taxes on dividends and capital gains which will be proposed in the neck bill. those are my two biggies. the market has not priced those in yet. charles: alicia, thank you very much. always appreciate it. great stuff. >

laura: these are two things that really, really hurt a lot of big tech companies, specifically tech companies have been very successful using offshore structures to be able to reduce their tax bills significantly and pay well below the u.s. rate or some cases, no taxes at all on profits they earned the purse few weeks. what biden would do is put a 21% rate on all those profits, so they would be paying significantly more. there's also a provision looking at incomes in the u.s., specifically for, you know, the difference between what i call tax and book income, so the difference between what they report on the financial statement and what they report to the irs. a lot of tech companies have been profitable have not had to pay taxes because they have had so many tax breaks and reductions in credit available that they could use. basically, biden is saying you would not be able to do that anymore. you would at least have to pay 15%. emily: how does the program move forward? do you expect more opposition to this then we saw for the stimulus package? >> yes, there will certainly be more opposition t

straight ahead we break down the price spike and what the listing means for the fin tech sector a lot in the wake of china's crackdown on ali baba the nation is issuing a warning to its other major tech firms they have to we'll take a look at china's latest moves and the reasons behind the nation's pressure play and later in a year of coping 1000 economic uncertainty that has seen millions of workers lose their jobs well c.e.o. pay has soared we'll analyze the growing inequality we have a packed show today so let's dive right in. and we lead the program with massive news on wall street and we are just talking about the earnings from some of the nation's biggest banks crypto currency exchange coin base started trading on the nasdaq on wednesday reaching a market value near $100000000000.00 this is the 1st major cryptocurrency business to trade publicly in the united states and as wall street awaited coinbase the 1st trade between set another record topping $64000.00 now outside of the world's most popular cryptocurrency a theory i'm also record highs on wednesday so let's dig into the

miami tech week underway. the mayor, francis warmers, wants miami to be the big tech hub.e ask nigel on the show next. the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq feeling sluggish or weighed down? like you it could be a sign that your digestive system isn't working at it's best taking metamucil everyday can help. metamucil psyllium fiber, gels to trap and remove the waste that weighs you down. it also helps lower cholesterol and slows sugar absorption to promote healthy blood sugar levels. so you can feel lighter and more energetic metamucil. support your daily digestive health. and try metamucil fiber thins. a great tasting and easy way to start your day. ♪ ♪i've got the brains you've got the looks♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪ with allstate, drivers who switched saved over $700. savi

some favorite tech names pulled back. maybe broader than the modern tech market.u have same conviction with mag night and others that you said would do well? >> i do. it continues to be our top pick, mgi, we're talking about especially the media space we want to be in ad-driven names because advertising is linked, directly correlated actually to nominal gdp growth and the last federal reserve estimate that u.s. gdp growth would be 6.5%, up 200 basis points versus their estimate three months ago. every forecaster for advertising keeps raising hundreds of basis points revenue from advertising. advertising has 80% margins. where i think earnings estimate revisions will be most dramatic, frequent, in the 100% ad driven media names. mag night are ad driven as many companies in our coverage. we prefer those in 2021. >> sounds great. laura, thank you very much. wish we had more time. so much more i wanted to talk about, appreciate it. >>> meanwhile, folks, president biden's two trillion dollar spending plan set off a epic battle in congress. should republicans stop slamm

joe: limos low more of the faang tech. i saw face tech on a tear. maybe at all-time hairs. -- katie: those are the companies that will do well in any environment. they have always been different from growth he or tech names like tesla. you are seeing commentary around wall street that stocks and bonds are moving off the same data points which all point to the fact that the economy is supposed to bloom in the next few months. obviously that is helping lift everyone. especially some faang names. people are reassessing that the environment. romaine: facebook and alphabet at record highs. even intel up 3%. all the traditional names we turned to in the past market cycle led up higher. i would also like to point out that one of the biggest movers was general motors, decidedly not a tech company, although for some reason tesla is. gm decided it will have this announcement april 6 about their ev strategy. there seems to be sentiment that they are chasing the next structural shift in our economy, and maybe that is ev's, maybe it is something else. is that wh

so, the tech market has been on fire in q1.illion raise in both spac and non-spac ipo's. 50% of that was tech ipo's. so, tech ipo's have raised about $21 billion or so of capital, and there's a long list of really solid pipeline for tech ipo's to go public, companies like -- obviously, we've heard of coinbase and so on and so forth. but along with that, given that we are now slowly coming out of this pandemic, there is obviously the availability of the vaccine. there's economic recovery. financing costs continue to remain low. there's about $150 billion of dried powder among the spac's. and then we continue to see on the tech side, there is a transformation and evolution of business models. you are seeing healthy activity on the m&a side, as well. we've seen massive deals happen over the last years. salesforce acquiring slack, and even cross-border deals. so, we are seeing a very, very healthy progress in the m&a market. the multiples have kept going up. you know, the markets are obviously very supportive and conducive to conti

have been moving up big tech in particular bucking a trend. microsoft, apple, amazon and google. >> yeah, you've seen a return in those big cap tech names one reason for that has been what we've seen playing out in the bond market as well. take a look at the 10-year treasury yields. it has come under pressure a little bit it's down 1.663% right now which is giving a lift to those tech names. also consumer discretionary names, tyler, and some of those reopening names getting a big bounce, whether it's the retailers, vegas tocasinos, crus lines. >> great as always being with you, morgan. >> back at you. >> thank you for watching "power lunch," everybody. "closing bell" starts right now. >> thank you, morgan and tyler welcome, everyone, to "closing bell." i'm sara eisen along with wilfred frost. another mixed session for stocks but the s&p 500 did hit a fresh record intraday high during the session an we are higher right now. the nasdaq leading the gains up about a percent as we head into this final hour of trade let's look at what's driving the

show me big tech.nd here is how it opened with solid stock prices, microsoft 252. apple 128, google 2255 amazon 3300 and facebook 315. facebook, google, microsoft all time highs. on your screen, constellation brands, a major major global drinks company and they are down 4%. actually, i know they reported this morning, but what is the problem? ashley: they posted stronger-than-expected earnings, but the problem is profits fell from the year earlier as you see down nearly 5% to date. the company says it's beer boosted was boosted by strong performance through our premise channels. many bars and restaurants closed are operating at limited capacity and as for wine the kim crawford label was the stellar performer seeing double-digit growth and also conagra reported before the opening of the, beating estimate sales. grocery and snack sales gained by nearly 11% and that basically means we are still at home, but food service sales fell more than 17% because of the lower restaurant traffic with the stock down t

. >> it has been all about tech underperformance, all week long with big tech earnings.e ended today's session of the red and the beggar the tech stock the bigger tech pain -- bigger than tech stock the bigger the pain. risk sentiment was off to a bad start. when you go to big heavyweights in the. new york index, selling got worse. . the exception to that was more selling and more pain issue was the semiconductors. i want to take it back to big tech stocks on the week, a lot of the pain was in microsoft and apple. you can see amazon, alphabet, facebook, gaining on the week. with the monster earnings. similar to microsoft, apple on a five day chart you can really see it has been a straight shot down and it tells you just because you were to outperform in 2020 and the haven, even the nasa earnings sometimes is not enough to make a stock go higher. -- given massive earnings is not enough to make a stock go higher. emily: apple and epic, the maker of the game fortnite, are scheduled to meet may 3 in a high-stakes antitrust fight over how much the apple app store charges deve

it is not just the tech is the area that's going up, but it is just the tech that's going to beat estimatesause we can't just have multiple expansion we have to have earnings that come through and beat expectations that's what the chart shows you, that investors are responding to higher multiple -- higher numbers forest estimates over t next year or two. >> there's a lot of bullishness around even on slow days like yesterday and today, you feel like the market is in a good spot you get a note like the wedbush one from ives, and it gets people bulled up on where things can go now, on the other side of that is where we're going in the near term the next guest thinks the upsides for stock is commuted or is going to be it is jonathan krinsky with bay crest markets. good to see you. >> good to see you. >> i saw what you said yesterday and you said you think the upside is limited. why so >> we were with you guys about a week and a half ago and we were talking about this growth value trade, and how for most of the last year it has been a bipolar market as you have been talking about. it has been e

joining me now is russ shaw, founder of tech london advocates and global tech advocates. what do you expect from today when general public can start trading its shares? will this be more promising than last week? i’m will this be more promising than last week? i'm definitely more optimistic and let's - than last week? i'm definitely more optimistic and let's face i more optimistic and let's face it, it was a disappointing start last weekend evaluation from where it was initially targeted to where it is now is about £2 billion lower so i think investors are looking at this and saying there is potentially some upside in the near term but over the longer term, the prospects for deliveroo are very good so people will want to invest in the company and it is an important high profile ipo for the stock exchange. how unusual is the way they — the stock exchange. how unusual is the way they have _ the stock exchange. how unusual is the way they have gone - the stock exchange. how unusual is the way they have gone about. is the way they have gone about doing the share offer because

you saw a big bid into tech. you have seen tech outperform over the past week. if you think about the index, tech is 27% of the s&p 500. energy and financial combined is 14%. as you have this rotation trade, the benchmark a little bit paired seeing the tech rebound to the races now. romaine: you have to tell us what other templates you have in store. i don't know if you already have your 5000 template ready to go or not. you can tell us that all fair. i am curious about the idea that a lot of the future growth -- everything we are optimistic about, whether that is all priced in now. what do some of these companies, what is the economy have to show to not only justify the current gains we have had but to also justify any potential run-up we might see. katie: you are seeing some concern may be the future earnings growth, the future economic growth has pulled forward and priced in the benchmark. you have seen some analysts -- i am thinking of morgan stanley have cooled on the small-cap rally. you are seeing that a little bit in the bond market. you saw a big move t

we will be taking a look at big tech.s is bloomberg. ♪ manus: amazon give a bullish outlook saying sales would be between 110 and $116 million. it was really aws the cloud unit as well as advertising which surged. there was concern over whether the e-commerce boom might end for amazon. the company announced it would move forward it's prime day shopping bonanza to the second quarter. executives face questions on succession, how the handover from jeff bezos will happen. there was not much detail. investors very pleased with what they saw. a different story for twitter whose shares fail heavily -- fell heavily. sales between $980 million and $1.08 billion in the current quarter. the street was looking at the higher end of that range. it was the same week facebook and google had shown pretty good strength in the advertising market. add prices are up, volumes are up. twitter was not feeling the same love. they grew users by 20% from a year ago, which is pretty decent for twitter, but there are concerns their brand heavy or bra

tech jobs instead of terrorism in belgium. pollution instead of prosperity in nigeria. but we begin in germany. while politicians continue discussing the 3rd lock down citizens are increasingly frustrated with the consequences of the pandemic. the bergdorf family in berlin a year after the corona virus pandemic began everyone is at home everyone is busy at their computer well almost everyone. leandro is struggling with his mouth homework the 14 year old spends up to 9 hours a day at his laptop 1st for his lessons then for homework sometimes leander has to force himself to keep up with his tasks. what. you just get sad you don't have any energy you almost get a little depressed that's a heavy duty word depressed but it's true. just don't feel like doing anything anymore and. his mother paula also spends her days homeschooling she's a teacher and looks forward to the day when she can finally teach inside the school again 1000 back summations could make that happen. then i got a message from my school yesterday that invitations for all teachers to get vaccinations are in t

from big tech to big tech, back-to-back tech earnings in the u.s. session.l second-quarter estimates on the back of surging demand for devices. >> on mac, we set an all-time revenue record. in fact, the last three quarters for mac have been his three best quarters ever. haidi: let's get over to san francisco with ed ludlow. any naysayers when it comes to apple just keep getting proved wrong. a lot of questions of how sustainable this is post pandemic. reporter: especially in like that apple did not give full-year guidance. they said the usual uncertainty. what was interesting is growth was broad-based, not just the apple smartphone. smartphone or iphone revenue jumped from one year ago, they saw really strong demand from the ipad. also, the macbook computers which are using their own processors. member, apple used to use intel processors, now uses its own. tim cook specifically said that that performance is driving sales. it is interesting because they are one of the beneficiaries of the pandemic, still continuing the benefits. that is the question. what hap

coming up on the show, anyways, still lots do you trust the big tech?esults of 2021's most trusted brand survey sand they may surprise you. >>> and the biggest laggard in faang set to report after the bell julia boorstin joins us with more. >> well, deirdre, necklaces subscriber soared despite slew of new rivals. what happens now we discuss what to expect from this quarter coming up right after the break. worth is knowing it's never too late to start - or too early. ♪ ♪ wealth helps you retire. worth is knowing why. ♪ ♪ principal. for all it's worth. hey frank, our worker's comp insurance is expiring, should we just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? get a quote in 3 minutes at easyaspie.com. wow, that is easy. so, need another reminder? no, no no, i'm good. uh, yes please. oh. ho ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com. >>> w

more tech check. we'll debate that after this break.you may seem like an immovable, implacable place. it is not. it can be bright. quiet. and safe. it's a change that will be felt from this street. to this street. to no street. and everywhere in between. all it takes is the slightest push in just the right place and that will be the tipping point that changes everything. ♪ ♪ cal: our confident forever plan is possible with a cfp® professional. a cfp® professional ♪♪ >>> welcome back missouri senator josh hawley unveiling a plan to ban all acquisitions of companies valued more than a billion dollars. it got us thinking what if the bill passed a decade ago what would the current landscape look like? what deals would be wiped off the table. yesterday's microsoft nuance deal dead, not to mention github, linkedin amazon would be hungry to acquire others it might be music to senator hawley's ears when he hears a apple's purchase of dr. dre. intuit couldn't buy anything, shopify couldn't buy anything. deidre, it is a lot of stuff. >> i mean th

good morning for big tech.llar mark. up 1.1. up 2% at $60.02 for crude. we're getting a raft of breaking data. susan, begin with manufacturing. >> highest rates in 17 years. i had to do a double-take on this for the ism manufacturing in the month of march. 64.7. that is higher than economists forecast. looking for a read of 61.3. that chose the economy, especially manufacturing, factory floors are churning out pretty high rates. figuring 10% for gdp expansion in the u.s. for the first three months. ashley: just looking for any market reaction. that is an impressive number. yeah, huge, is the word. let's take a look at mortgage rates. very important. they're on the rise. what have we got. susan: still on the rise. looking at 3.18% for mortgage rates on a 30-year fixed. color commentary from freddy and fannie. mortgage rates remain historically low. they're looking at a pullback in homebuyer demand as a result of mortgage rates going above 3%. they said recently at the start of this year, the demand for homes was

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tech stocks off by .4 of 1%. we did not see any movement it yields, but earnings season is around the corner. earnings season starts in earnest next week. that is where the focus is. investors project things that we will see growth rising. we will see around 16% revenue growth in the technology sector, even more outside earnings growth. come with me and look at this chart. when it comes to the nasdaq 100 in particular we are trading at our most expensive valuation. just around 2004, two decades worth. that has been a concern particularly at the beginning of the year when yields were rising. it was hard to justify stretch evaluations. now the psychology has changed because the rest of the market outside of tech is also expected to do well. come back to me at the studio. the best two performing mega cap stocks were amazon and apple. a day i've actually trailed the s&p 500 so far this year. it investors falling out of love with technology. the question, what will bring them back in love with technology. that is what

so plaid has ridden this fin tech way, gotten a $13 billion valuation. way above where they were going to go with visa so one source tells me this probably worked out for the best >> specifically the lack of regulation for fin techs versus what the banks face and that's a huge competitive advantage like plaid for instance >> remember two years ago when you and i were covering and the banks were terrified they were going to be taken out? what happened to those start-ups, most of the others got bought ut. and if you read that diamond letter which is absolutely stunning big think letter, really impressive he specifically said we have money to make acquisitions and we're specifically looking at a acquisitions in the fin tech area >> i understand the acsquisitios may be coming but still going to be ones that are standing and like a square stock price that's really gone up how do you think about a acquisitions and who might be right like a jp morgan >> i think there are any number of these companies banks would like to buy. but increasingly we're seeing these