so i think tepper's right.today, 20% of the money that's in our system today wasn't there a year ago. and that's never happened before and so i think we're going to see stocks move higher, i think we're going to see asset prices continue to move, maybe nonlinearly, i think we will see some really aggressive moves. >> i guess, kyle, we made a point in the past, gotta be great to just be able to stimulate forever, you know, throw a trillion there, a trillion here, 1.9 trillion here, 3 trillion here, and it would be great because it does help gdp, we're always worried about the chickens coming home to roost if we can sell our bonds, and they're that attractive, do we delay the eventual arrival of the chickens coming home to roost, so you can work and party like it's 1999 with the stimulus because we don't have to worry about rates going up, i think that's his point why it's tough to be bearish on stocks here. >> that's right. i had breakfast with kuroda a few years ago and i said you guys own more than 100% of the

tepper, by any stretch, but in the near-term he thought the bulk of the move was exhauexhaustive and the nasdaq took off in those respects rates under control, nasdaq stocks work. is it just that simple >> it is that simple, scott. you heard steve weiss say it, as well together we've all voiced that it's the speed at which we see rates moving higher and the fact that we're at the lows of the day, scott, give or take 152 in the ten-year yield, that is a very positive thing and so i was saying that with you last week, i was delighted that david tepper had a similar sort of view, and i think -- not that i'm in david's league. i'm not, but i think a lot of us looking at those rates, scott, thought that some people were trying to get ahead of the banks that didn't have to count these treasurys on their balance sheets as far as for capital that the fed monitors and so forth until the end of this march period and then they will have to count them so a lot of people said if those bonds start coming off and bonds being sold means rates up and i think they got ahead of that trying to squeeze t

our road map begins with rising yooeld yields keeping pressure on tech and why david tepper telds cnbc it's not the time to be bearish and gamestop shares, they're up yet again, the retailer, board member, ryan cohen, leading its shift into e-commerce >> and packing america for solar winds. now microsoft exchange servers breached top cyber security stocks tumbling more than 10% in the past month we will talk about that on this busy monday, carl. >>> as we sort of kick around what david tepper has told cnbc this morning, david, there's been a lot of hand wringing over the weekend about what's the threshold for pain for equities? when does it change? rotation into wholesale selling? b of a this morning on "squawk" talking about 175. and if tep ser right, it has big implications for growth. >> it does and listen, he keeps it pretty simple, temper and he has the advantage of being right many times and we listen closely when he speaks as you well know, carl, and we're doing that in the markets and paying attention, after what has been a tumultuous last few weeks in particular with the growt

and tepper today messages me "temporary."cause we were talking about sarat about how quickly the economy could grow so david emphasizing that. he did emphasize one more thing, after he said becky and andrew's hair looked nice he said also stimulus money will leak into both the stock and bond markets that begins next week. >> hmm >> again, though, it's just a next couple of months thing also so that's also something that -- >> yeah, i think the market was kind of getting to that idea, that market was kind of getting to that idea that the stimulus checks will make their way into the stock market in some form, some of them the bonds market is a logical conclusion with that but it's interesting, you know, we've known that this is coming for a while, kramer was saying something about this a week or so ago >> yeah. >> just about the idea it was bie buy on the rumor, sell on the news we knew the stimulus checks were coming and people are slowly putting two and two together and making positive statements to this >> the skin was -- th

points from all time interday high, so we're watching that today but really, it is about these david tepper comments that turn the market and, really, leaves us where we are now major market risk removed. very difficult to be bearish on stocks right now thinks the selloff in treasuries that has driven rates higher are lower. these are the comments today and rates made the most of the move. bullish in the near term, fiscal stimulus as well sounds right up your alley >> it is right up my alley i would be very happy, scott, if short-term, if rates and bond yields just stabilized a little bit. we're up 60 basis points in 5 weeks time and we've talked about this endlessly that it's the speed we care about because i believe rates are going up for the right reasons. getting better stimulus is working but medium term, long-term, as i mentioned, i think the stimulus will work we'll do $30 trillion worth of stimulus this year versus $2 trillion last year if you combine fiscal and monetary policies together, 55% of u.s. gdp. it's unprecedented, historically within about 4% or 5% if you combine the two

joining the conversation all morning long, mark tepper and steve forbes.do you still believe in love, i wonder. down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow with it. principal. for all it's worth. (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that. ♪♪ (car horn) ♪♪ (splash) ♪♪ turn today's dreams into tomorrow's trips... with millions of flexible booking options. all in one place. expedia. some say this is my greatest challenge. governments in record debt; inflation rising, currencies falling. but i've seen centuries of this. with one companion that hedges the risks you choose and those that choose you. the physical seam of a digital world, traded with a touch. my strongest and closest asset. the gold standard, so to

i want to bring in strategic wealth partners ceo mark tepper.thinkers, right? in addition to start and operate businesses we know this new fourth industrial revolution does provide benefits. we're seeing direct benefits like this. how are you feeling about this, will it create more jobs than it destroys? because it has been a great anxiety that it would destroy more, hence you have folks like andrew yang saying we need to pay people money because they can't find work? >> right, man. look, i hope it creates more jobs, more opportunities, manufacturer income, more prosperity. i want everyone to have the opportunity to improve their standard of living. charles, just like you, man, i'm a capitalist, i believe in the free market. i like when jobs shift from one industry to another industry because the economy says so. that's innovation, right? not because the government is forcing that shift upon us. so you know, you think about that welder making 180 grand a year who is now being forced into making solar panels, i don't know how those skills transla

joining the conversation all morning long, steve forbes and mark tepper.back. you're watching "mornings with maria" live fox business. ♪ if it's meant to be it will be, it will be, it will be. ♪ baby, just let it be. ♪ if it's meant to be, it will be, it will be. ♪ hey, our worker's comp insurance is expiring. should i 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? sure! get a quote in 3 minutes at easyaspie.com. that is easy. so, need another reminder? no, i'm good. reminder for what? oh. ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at easyaspie.com. maria: welcome back. the chinese communist party takes aim at a number of foreign clothing brands that have spoken out in opposition of the ccp's human rights abuses. the party's global times newspaper state run calling out brands like h & m, burberry and nike over their concerns of forced labor of the uyghur m

if tepper's right, you should buy stocks. >> yeah, i wouldn't be quite so broad brush. the kind of stock, of the kind of business that earns no money that exists on a wing and a prayer and a vision. those stocks are vulnerable to driving rates. other stocks are going to do well in an environment of rising stocks and inflation one must distinguish i think bonds as a class of asset are under the greatest suspicion. i mean, would you rather own a 10-year treasury with 160 or a 10-year mortgage at 3.75 >> that's certainly what we've seen jim, it's a longer conversation. we'll have you back. it's not going away any time soon we appreciate your time today. >> thank you, becky. >> thank you >>> still ahead, we're going to hear from north island chairman glen hutchins, senator pat toomey and interactive broker chairman thomas peterffy as we head to break, take a look at the futures this moment the joe board, squawk board. we'll be right back. this is the gap, that opened up when everything shut down. ♪ but entrepreneurs never stopped. ♪ and found solutions that kept them going.

tepper said. >> tony, great to see you. i know you said you miss us. i think you miss the candy bag. >> i totally miss the candy bag. >> we'll see you the candy bag lives. good to see you. toney dwyer. he speaks a lot of reason and very rationally and market throws a tantrum when the rates go above a certain level. >> right on a day to day, it feels like a tantrum, right but if you step back, it doesn't move exactly lynnarly, i think what he's say makes great sense. it is an interesting point that even though the rates are moving, that that inflation break even has not moved so i think we'll see that inflation maybe be transitory. so all of that said, i'm staying long and i'm staying long banks. agree with tim, they will trade off if rates come back down but that is okay. >> coming up, the retail trade and the trader today's monster move in game stock has the two worlds colliding and later more on the massive attack on microsoft. those names ahead. and stitch fix, the stock is plunging on earnings we'll break down the details with "fast money" returns.

well, what happens if tepper's right and the sell-off in treasurys is likely over so rates will stable rise after spooking everybody out by going up pretty fast, pretty far relative to where they were? hasn't that now subsided and doesn't that change things >> i agree the move in rates was a non-linear move that we expected and there will be some consolidation here and the rate of change is so dramatic that now people have to accept the idea that rates will probably go up again at some point so here's the question, scott you have to ask yourself the stock market now knows that. so now the stock market has to believe the idea that hey, maybe the fed will not curtail the back end or they can't or they shouldn't because the economy will be booming and the equity market will move in front of that and it moved in front of the recovery last year and valuations will come down for these longer duration areas. so once again, it doesn't mean that all these stocks are at risk and i don't think this adjustment process is over. >> what is the best case for the s&p 500? you've got 3900. we're sittin

. >>> on monday, monday morning, appaloosa management founder, david tepper made a big market call he japan which had been a net buyer of treasury, here to weigh in on the call, and what else investors should be watching in the bond market is chief investment officer of bleakley advisory group, cnbc contributor. theoretically, if you had listened, i mean, amazon is back above 3,000, the nasdaq was in the low 12s, it's back above 13,000, dow is up four straight days, you could almost take profits on that. peter, you -- i don't know whether you're saying teperper s wrong or has his facts wrong, but he says japanese have been net sellers for five years you say that japan's holdings of u.s. treasuries are near record highs of 1 1/4 trillion, up 200 billion over the last few years, so they're already loaded up so when he said they had been net sellers for five years, he was wrong, he's looking at different information than you >> yeah, they were sellers up until about 2018, and then picked up their purchases again, so japan is now the largest foreign holder of u.s. treasuries, surpassing c

sorry about that, tepper. i will be 73 in a couple months. you just don't know.ors in usa today. the cdc misinterpreted our research, it should loosen the rules. lawrence is really passionate about this getting back to school, back to in classroom learning. i want to know why we don't have all schools all over the country open right now with teachers teaching in the classroom. >> that is the bottom line. we saw from the cdc and anthony fauci they were honest about this until the big lobbying got involved, it is proven based on the science the kids can return to school. the teachers unions are asking for additional stuff to make them safer and when the school district have done that they still don't want to open. we've seen school districts tell their teachers they should hide when they are on vacation. don't put them on social media. we've seen teachers union presidents figure kids to charter schools and private schools while the actual kids in public school aren't allowed the damage ineffectiveness will be catastrophic. we started to see it. kids started to cry.

. >> back over to the bullish comments from david tepper to drive the action. he said to drive the surging bond yields to stabilize and stocks to move higher from here with the 10-year climbing to 1.6 today, and should the investors put the fears aside and gearing up for the bulls to charge for more, welcome in chris grasante the chief investment strategist, and melda manageren the head of equities at thread needle investments. and melda, what do you do here with the big richly valued stocks that seem to be more at risk from the rising yields, but also making up a pretty heavy weight in the s&p? >> yes, there is definitely a portion of the market where the valuations are stretched and we are very careful with those. these are the high multiple stocks and especially that they don't have the earnings and supported by the low interest rates and that cohort is a big area of focus for us, and we are generally underweighting the stocks, and we don't extend that to the market, and they are still in the growth universe and justifying the multiples because of the earnin

stabilization until this morning but we had stabilization in the ten-year, a lot because of dafd t -- david teppergh, rates are moving higher because of the stimulus, the liquidity, vaccines, great proxigress overnight with innovnovavax and, visitations in january were down 23%. in january march, down 8% so you're seeing progress on the whole reopening. you're seeing reservations on the rise you're seeing air travel, tsa checks all better, so the stimulus is working. it's just going to lead to not only better growth, but probably more inflation if that's the case, rates are going higher in the medium term and value will work over growth, and some tech stocks and high fliers will struggle in the shor short-term. >> all tech stocks are not created equal. i happen to watch you on "halftime report," and shows like that, stephanie google, right, everyone just dumps faang in the qqqs. you still love google, and i think you have added to more google or alphabet, whatever it's called . >> yeah, i'm under weight faang in general and under weight tech mainly software in general, but i do like alphabet i thi

i have with us, mark tepper. mark, we've all been there.ntastic. they blew away top and bottom. they raised the guidance, they have market share around the stock gets hammered. how do you deal with that? >> it is confusing, man, but as long as i like the company, as long as i'm comfortable not all the good news is already pricedd in, that gives me the perfect opportunity to add to my current position or buy something on my watch list that falls into my lap. you have to stay disciplined. anytime you buy a stock figure out what you is already priced in as you mentioned. there is a lot of stocks with a lot of good news already priced in. disney is up 33% since january 2020. caterpillar is up 52% since january 2020. that is a lot of good news. once everyone knows about the good news, you're too late. you have to buy when your optimism exceeds everybody else's optimism, and charles, you better have the data to back it up. charles: i think a great example is gamestop. someone bought it at 30 bucks it, went to 350, 400, whatever. they didn't sell.

susan, david tepper, major-league investor. what did he just say that moved the markets?ink he turned around futures. he says you cannot be bearish on stocks right now. selloff and treasury have driven rates higher which is stock market is a bit concerned likely over in his view. we were supposed to get to one and half percent by the end of this year and guess wall street investment banks have been trying to catch up. and now it's 2% by the end of the year so this move in the 10 year yield has been pastor from what most people anticipated, but now has a gotten ahead of itself because where have we seen inflation? have we seen in at one and a half or 2%, people would say no so david thinks it's overdone and this bearishness in the us treasury market and this might be over at least for now. you cannot be bearish when you have another $1.9 trillion in stimulus coming in. stuart: zero, i guess a so. quickly, tesla always interesting. tesla is $604 per share. i think it's time to bring in jeff sica before we open the markets. vaccines, more widely distributed with states with

mark tepper, mark -- market guy of the morning, with us now.w some of them. what's your advice to the youngsters flooding into this market right now? >> so, stu, i think the number one rule for any new investor is take the easy win whenever you're getting started. don't get too, don't act a fool, don't set yourself up to take a loss. because there's something to be said about an investor's psyche. when you get a win early on, you taste victory, you feel the adrenaline rush, the dopamine rush, and it makes you want more. and that leads to a self-perpetuating cycle of people investing more and more money which is what we're trying to accomplish. on the flipside, if you take a few beatdowns early on, you might get psyched out of playing the game. so start with some no-brainers, apple, microsoft, amazon, stack some wins right out of the gate, and that'll set you up for life. stuart: do you thinks it is a big new factor in the market? there are millions and millions of people who have never been in the market before who are in the market now almost

i get it especially after the tepper comments, after the ecb comments i think longer term we are headede towards value and cyclical but the secular growth in technology is too compelling the abandon it i am underweight tech but i like s semi, cyber you are the ask. i like active, they are a parts company but a pure play auto tech company there are lots of places you can be involved this tech but i think you want to lean more on the cyclical side is this boeing is reporting a big deal with southwest airlines phil lebeau with the story. >> at that head lion, which was out yesterday -- by the way, that's widely expected within the airline industry and those who follow boeing. we will talk about that. look at shares of beau, hitting a 5-2-week high. if you want to say, what's the main driver here this optimism that the 737 max -- remember they had cancellations after cancellations, month after month. now this is optimism that well they have turned the corner and they are going to have more orders than cancellations. southwest announced they have begun playing the max again. they have added

i will ask mark tepper if

see how it lasts tepper put it, he said, several months. >> several months. >> right nothing lasts forevertory because it's interesting >> maybe. >> one of the stories we've been talking about is moderna it's in the top five movers in the s&p this morning after the company says it's begun mid to late-stage studies testing its covid-19 vaccine in children between the ages of 6 months and 11 years that study will test the safety and effectiveness of a two-dose regimen with shots given four weeks apart. moderna is hoping to roll just under 7,000 kids for that study. by the way, if you're interested, if you'd like to look into it, they're trying to sign kids up at the website wwb.kidcovestudy.com the faster they sign up kids the more quickly this can get approved that stock is up by 2 3/4 percent. >>> in other vaccine news, sweden and latvia are pausing injections of the astrazeneca vaccine. more than a dozen countries have halted vaccinations. the european union's drug regulator is investigating this and france announced hope that it could be resolved on thursday the world health organization

mark tepper is with us this morning.st texas. we have reopening everywhere. how do you play the reopening of our economy on the stock market? >> unfortunately for the most part i think your too late as it relates to the stock market. you have to be very selective. southwest, marriott, disney, caterpillar, although stocks are up 25 percent-75% off of their pre-abca24 levels. it is clear as day. vaccines are being administered. well-wishers talking about. you have to be very, you have to be selective. we are working for the laggards but still have room to run. stuart: what are you looking for? >> united air, norwegian cruise lines and spirit arrow systems. all of those names are down from their pre-abca24 levels and united is the worst-performing major airline over the last year. we have of the international exposure. the domestic travel thing has rebounded. the rebound is priced in but you're getting it early on the international rebound so there is room to run. when you look at norwegian, they will rebound faster than cr

we talked about david tepper yesterday, right?r countries, need to find somewhere to put their money to get some sort of yield. you will not get anything better than 1 1/2% in u.s. treasurys, right? so that brings down the yields when there is more demand buying in. stuart: yep. the yield on the 10-year has come all the way down to 152, 1533. look at this, gas prices. in the last month we've gone up more than 30 cents in a month. now we're at a national average for $2.80 for regular. look who is here. jeff flock is in indiana right now. i believe he is going to tell us gas prices are going up some more. give me the news, jeff flock. reporter: i know it is bad news for you, sir. you put in a dollar's worth each stop i know. that was the national average right there, almost the national average, 2.799 you're absolutely right a penny a day over the course of the past month, stuart. we talked to patrick dehaan, our buddy at gas buddy, who says this was set up a long time ago, it is rolling in now. and it is going to continue. listen.

my thanks to mark tepper and steve forbes for joining us for the entire hour. that will do it for us. "varney & co." is coming up next. i'm going to send it to stuart. stuart: good morning, jackie. good morning, everyone. i have to say fed chair powell speaks a good deal more clearly than some of the predecessors, he's easy to understand and this is what he had to say, the economy is getting stronger and money will continue. with result? a spike in long-term interest rate with the yield on the 10 year treasury moving up, i think the highest in over a year, right now 1.74%, big jump in yields. the result is a big selloff on the nasdaq. bottom line, down 200 points on the nasdaq, tech heavy and technology does not do well when interest rates rise. big tech clearly clobbered again, all the big name big tech companies are down premarket this morning. bitcoin, not that much price movement with the bitcoin $50000 per coin. overall, today the financial markets are all about the rising interest rates. mortgage rates are going up also. we are all over it. what a mess, t

we had a conversation at least by text, joe did, with david tepper earlier this week he seemed to bei think that we've clearly got a lot of economic volatility ahead of us in the next six or nine months. we're going to have some fantastic growth be really good for equities. we're going to have some inflation prints which is scary. that's going to be bad for bonds. and i think the market is going to be trying to deal with those two questions. i suspect what happens is equities will become higher. rear' going to have rather than a steady grind up that we got used to last year, we're going to have a lot of these air pockets that we've seen the last couple of weeks. there might be an air pocket to the down side or an air pocket to the up side >> but if i'm hearing you correctly, you think that still by the end of the year we are up the question is, how much up >> oh, i tend not to try to pin numbers. i leave that to the bank strategists. but we have a lot of good economic news. we've clearly put some more fuel into the fire with 1.9 trillion. there's talk of the infrastructure all of thi

the bank of japan, remember the tepper call said they're not going to widen the ban which is 40 basis what was feared as a worst case scenario would have been widening it by 20 or maybe even more on both sides. so now instead of being a 40 basis point band it's a 50-basis point band which is -- i don't know whether that's somewhere in between not doing anything at all and doing something significant. i will show you the squawk stack, careful we have fed ex replaced gamestop with fed ex. bitcoin, 59,000. that's been strong after the jay powell ended the two-day meeting. that was taken very bullishly, at least by some 10-year, which we were talking about and i guess the nasdaq want to highlight yesterday. let's get right to our first big interview of the hour on recoveries from covid. the state of new jersey is easing capacity limits today on indoor dining, gyms, other businesses that will now be open at 50% of normal currently 12% of the garden state's population has received two doses of the coronavirus vaccine. joining us now, new jersey governor phil murphy governor, good to see you

the conversation that you had last week just talking about whether these rates could stay and what tepperone point was all the way down to 12,200 and it came back but not all the way maybe it came back that day and traded up a little bit it's been problematic. that's where a lot of people think the future net value gets impacted by the slightest even basis point rise in rates. and that was when he made the case that, you know, japan shocked everyone on that friday by not -- by indicating they were tethered at zero. we'll find out tomorrow and friday whether that was the case i don't know what stable interest rates mean. i think it meant staying below 1 3/4, 1.8, 2% now that we're up there to 1.65, 2 and above, we'll have to wonder whether it does become a big problem for the nasdaq or for certain parts of the market. looks like it is today >> right i think goldman sachs had a note out yesterday saying that they thought the market -- equities market could handle rates going up to maybe 2% we did talk a little bit to mohamed el erian he was not quite as confident in that call. especially th

1.62, nice and stable, about where it was two to three weeks ago when we had that call from david tepper for me i don't know what's in it right now. i haven't changed anything we've got gamestop still in there. i think that's interesting to watch. down about 14%, after all the news on that company yesterday throughout the day and then later, when the company reported its results, there's bitcoin, you have that on there, because it's up 3%, and because you can now buy a car. now buy a tesla with bitcoin, in a 3:00 a.m. tweet with elon musk it was maybe 2:00 a.m. if he's in texas we don't know where he is. we don't keep track of him but tesla could be alternating with gamestop there as well, that's one of the futures, and we could put intel in there also, which is up about 4% on the lead story in the "wall street journal," the company going to spend about $20 billion trying to rejuvenate its business, outsource some of its chip making that has run into a rough patch for intel, at least, in the last couple of years. >> we'll get to all of that, joe. by the way, there are people that keep tr