but the big thing that's missing from the new york stock exchange, and if you're a follower of the newock exchange and its parent company, the ice, they get a ton of publicity and marketing support from the fact that every major business television network and many others are on the floor of the stock exchange. cnbc has studio withs. we have a presence there. yahoo! finance and many, many more. that presence has been done since march, and here's what we understand. my source, my producer, ellie, did a really good job of breaking this story. and what she hears is that sources are telling us that they are eyeing a possible september date to reopen or at least filter back in the media to the floor, getting those studiosback back, maybe getting -- studios back, maybe getting some floor reporting back. they're going to start, meaning they, the new york stock exchange, they're going to start reaching out to media members from what we understand in the next couple weeks to sort of plot this return to the stock exchange and to get those studios going again. one of the problems i think they're

doubleverify ceo on their first day of trading down on the new york stock exchange. ming up, artists are cashing in on their old songs. this has been a trend you may have noticed. we will discuss the surge in by music assets, buying them, selling them,. i think stevie nicks and a bunch of others have done it. we will speak with the ceo of brownsville music next. this is bloomberg. ♪ . ♪ matt: this is "bloomberg markets." i matt miller. stakeholders in private equity firms are looking to cash out without diluting equity musical names of all ages are turning to investors to offload their catalogs for hefty songs. -- hefty sums. one buyer is josh russ, ceo and founder of roundhill music. he joins us now to discuss why music rights are an ideal uncorrelated asset for investors. great to have you on the program. josh: thanks for having me. matt: you have so many of the names that i have not only grow up -- grown up listening to but us and to a lot still now. i was fortunate to go on the last black sabbath tour. why is this asset being so highly valued at a time when everyt

ice which owns the new york stock exchange is 65 billion bigger than the exchange but in rare if ied territory. 85 companies that you know, all of them, but in that $100 billion raunge, target, micron, general electric which is around for more than 100 years is $118 and the biggest financial services firm out there blackrock is $120 billion. you get an idea of the scale truly amazing. these bank earnings alsomind boggling goldman sachs reported earnings 80% above what analysts thought. jp more began's 40%, 48% above where the analysts were thinking wells fargo 50%. how did they get the numbers so wrong? trading profits off the charts fixed income and equities were just off the chart wait a minute. if things were so great how come the stocks aren't doing much investors care about loan growth and fixed income and those numbers were good but not as amazing and don't care about trading profits. they consider trading profits more of a -- low quality end and companies with significant loan loss and morgan i think that's consid considered lower quality back to you. >> we have a busy next fe

be seen as a as a litmus test for the broader market it's the 1st currency exchange to go public it's going to be worth probably more than the owner of the new york stock exchange when it goes public today so it's extremely highly valued because of the interest in the market right now but there also are still a lot of outstanding concerns because the cryptocurrency market remains so volatile that means that their business is going to remain volatile and that's something we haven't really seen with with it with a publicly traded stock yet so there is a lot of excitement today but it's going to still be a bit of a volatile ride for quite a base well let's look at the market interest of the investor interest because i mentioned just a few of those the 2 currencies traded on coinbase and it somehow you can see the woodford treason which once a was looking at more closely. wolf the biggest revenue centers are the most popular crypto currency so bitcoin accounts for about 44 percent of their transaction revenue a theory about 12 percent the rest are. these other new or crypto currencies so that is a growing market but. it's also going to be facing more and m

the former president of the new york stock exchange. for being here. >> good morning, becky good morning joe and andrew. >> so you know well about spacs. you saw the early rise of these things what do you think of this cooling off period >> i think it's more than a cooling off period i think the party is going to be winding down for more people when i joined the spac community we were having a nice neighborhood barbecue, more and more people came the regulator was okay and then ultimately the party got a little out of control and people showed up with big speakers and def metal music and pyrotechnics there are two things going on, the sec is steng in to -- stepping in to slow things down. what you'll see is a reformed market i think today is a bit more the new normal than february where you had this orgie of new listings, credible people, not credible people. i think it's quite a big change. i'm disappointed last time i was on i got in a bit of an argument with andrew i'd like to see the market take care of this the market is taking car

dwarfing the valuation that is the coinbase digital exchange, if you will, the shop to which you buy and sell all of this stuff, a market valuation higher than the nasdac, and the new york stockexchange and continental exchange, so that's just remarkable in and of itself. now, remember this is direct listing, so the immediate beneficiaries are original employees, original investors, and unlike an initial public offering, where you're locked into it, into early players can't sell right away, early investors here can, and then you decide and the higher this goes, those early investors could say all right, i could take some money off the table and still make a mint here and remember they have to draw to a direct listing, because you don't need the capital for expansion and other related plans, you're well known entities coinbase is much like slightly well-known entity, spotify or slack i should say was a well known entity as was spotify, so they didn't need that as much as to makerly investors and early employees liquid. they are drawn drowning in liquid by the way it's a good position for them to be in so as the day ensues the next two and a half hours, how many start unloading

it begins trading on the new york stock exchange today. n. >> thank you, bertha. >>> now to washington and the white house. president biden is set to have the first full cabinet meeting as commander in chief. this is after the $2 trillion spending bill released focused on infrastructure. we have tracie potts with more from d.c. as we see a beautiful shot of the capitol and white house behind you tracie, good morning >> reporter: let's hope it stays beautiful. let's hope the relationship can connect when they talk about the infrastructure bill, brian the president is saying it is big and bold and it needs to happen now we see lawmakers on capitol hill worry that it could plunge the country much further into debt the biden cabinet meets for the first time today 25 people in person and socially distant to hear how they can support the president's new infrastructure plan. >> the largest american jobs investment since world war ii. >> reporter: $2.2 trillion transportation, brandband, power grid, manufacturing, senior care, green energy and clea

. >>> and let's take a live look at the new york stock exchange. another update on the market, next. >>> this is so unnecessary. a ceo goes after a teenager. the showdown over a prom dress that has now gone viral. >> the teen was so great though. >> we'll tell you what happened. we don't want to ruin it. >> we know here. >> goodbye is what we like to say to this traffic. >>> good morning, everyone. look at that! my goodness. this is some of the worst traffic i've seen at the toll plaza in a while. my goodness. a live look in san francisco, 101 super clear to report. also in the south bay, except for one issue, all lanes are closed because of downed wires on southbound 35 between bear creek road and 17. moving up, we have roadwork picking up in concorde right now on northbound 242 between 680 and concorde avenue. earlier there was a systemwide 10 minute delay because of the earthquake, that has reduced to just the san francisco line in the antioch direction. now, let's check in with mike. good morning. happy to see you back. >>> thank you, jobina. ni

that in perspective, the intercontinental exchange which owns the new york city is valued at $64 billion. so the market will say coinbase is 1/3 more valuable than the new york stocks you which way investors are thinking about the future versus the proxies of the past like the new york stock exchange. so i think this is going to be an important listing. it is going to be a way for people to play the cryptocurrency world. if those valuations are right, we'll find out after the 14th, it will send a powerful message which way we think we should be going an hopefully regulators and politicians will heed that message and allow it to happen. charles: jim, you keep putting it out there, my friend, very few people do it better. thank you very much. great talking to you. >>> despite president biden's pushing this two trillion dollar infrastructure package you know, it has a lot more, of course we know at this point to do with progressive causes than putting up roads and bridges. here is the thing, folks. progressives are demanding more. they may smell blood in democratic waters. i will get reaction from fox news contributor liz peek. she is next. ♪. nicorette knows, quitti

. >>> let's take a look at the big board at the new york stock exchange. ow by about 140 points. another updates on the market next. >>> we go job hunting with jobina. she is introducing us to a local bakery that is looking to hire those who normally have a tougher time getting a job. >>> we are going to check in with jobina on the commute. >> reporter: yes, it is time, everyone for the backup. metering lights came on at 6:10 you can't it. haov the goen fought tha area i want to point out for people that are along 101 moving through santa rosa specifically, heads up on the low visibility. we have a stake alert in the hayward area that is causing a backup. according to the chp, there was an earlier police chase that ended in a crash in this area. the east 14th on and off ramps from northbound 238 are shut down. and now let's check in with mike. good morning. >>> good morning , jobina. thank you very much. hi, everybody. temperatures a little milder than yesterday. about anywhere from 2 to 5 degrees warmer. fairfield significantly warmer at 12 degrees warmer.

and that's something, whether it's the new york stock exchange and the incumbent from the exchange sidether it is fintechs. square, you look at cash app as a competitor, you look at robinhood, that is something none of those can say in quite the same way coinbase does. again, it's growing business in a growing industry. romaine: how strong do you think the first mover advantage is here for coinbase? you mentioned the other competitors, and there is always an eye on big, traditional banks, and maybe one day they will get their act together and compete in this space as well. jill: it is huge. since 2013, 2014, coinbase has really been the first stop for anyone who is looking to get into bitcoin. and they have managed to cement that not only for retail traders, but also for institutional. and if you think about those two markets that coinbase has gone after, there are certainly relevant competitors on both fronts, but they had managed to defend that position really well so far, and i would expect them to continue to do so. joe: i saw from our etf specialist here, there's now nine applicati

opponents so what's the business reaction been to the announcement well maybe to begin with sold the stock of the united for example here at the new york stock exchangeshould traded by about 7 percent we also have 2 of those other teams liverpool for example being owned tier in the united states by a fenway sports group who also own the boston red sox and then we also have arsenal who also belongs to an american billionaire you could imagine we might see more t.v. games being shown so that could be good for cable operators but having all that said also on the business side there is the customer right and that's the fans and most fans do not seem to be too swilled and we really i'm curious if there's a super league will be really will be. to see the light of day as we heard here on monday. thanks for the updates. now let's take a look at some of the other business stories making headlines around the world brazil has received 3000 liters of a pharmaceutical in greedy and for a covered 19 vaccine developed by china's sinar bok that amount will help the country manufacture 5000000 much needed doses brazil has been hit severely by the pandemic recording t

the new life and is offering to help them survive the pandemic. >>> you are looking live at the big board at the new york stock exchange, another update on how the markets are doing, next. >>> the new push to decode data science. sometimes that means focusing on the youngest among us. >>> now if you check on your accuweather forecast with meteorologist mike nicco, back from the flowers. >> back from carlsbad and san diego. we have so much news out of that area. it was a nice time, let's just say, that was really neat and i can't wait to go back. 46 in the valley, 51 in ocean beach, under cloudy conditions. that is the spread across the san francisco. most of us in the mid-40s to around 50 degrees. let's talk about more and more of those students going back to school and the faculty. mid to upper 40s as 7:00, mainly cloudy conditions. clouds will start to open up, but i want stuck in the 50s, that's where we will stay at 3:00 after school at the coast. mid to upper 60s with more sunshine than yesterday, and is slightly less aggressive breeze. that's why it's going to feel warmer today. here's a look at south beach, where it's cloudy and 49. at le

as we bounce back from the extra incentive many are offering, in hopes of attracting new employees. >>> you are taking alive look at the big board at the new york stock exchangew the markets are doing, next. >>> it's a vaccination vacation. one country offering torres a covid-19 shot as an extra bonus for visiting. >> this is an interesting story. before we get to that, we want to check in on our commute now with jobina. >>> hi, thank you so much. good morning, reggie and kumasi. we will begin with alive look at the bay bridge toll plaza. metering lights came on at 6:28. is packed, high wind advisory for the bay bridge, venetia bridge and san mateo bridge. moving over now, south bay, checking out san completely air-conditioned in the south bay, but we do have a couple of problem spots to talk about. first in bay point, the cross we were following on westbound 4 at willow pass road has cleared. you can see the class traffic is backed up past pittsburgh. speeds down to 27 miles per hour. that's all because it's in the commute direction. and also again, bringing you an overall look of the plot toll plaza, because who doesn't want to see that backup, mike, >>> th

. >> reporter: you are looking live at the big board, the new york stock exchange, another update on how the markets are doing, next. >>> southern california theme parks reopening, new attractions at universal studios and the lines for disneyland that are virtual. >>> we will first though check on a look at our forecast with mike. good morning. >> good morning, jobina, reggie, hi, everybody. we will start with neighborhood temperatures. we will go into the city and look at mid to upper 40s under a mostly cloudy sky. we have 47 at the ferry building, heading into financial, it's about 46 degrees. that's pretty indicative of most neighborhoods. 39 in american canyon, 38 in palo alto. the cool spot, american canyon has fog, palo alto doesn't. most of us in the mid to upper 40s, until you get to pleasanton at 41 degrees right now. gorgeous sunrise from the east bay health camera. also, you can see the fog trying to sneak into these bay valleys. it won't last very long. even at the coast, sunshine today, but breezes will keep you in the 50s. they will go from 58 to 67, that is the noon to

. >>> taking alive look at the big board at the new york stock exchange down right now by about 50 points. another update on the market, next. >> he was with new version of her fearless album comes out tomorrow. her new interview with gma. >>> before that, we want to check in with mike. >> thank you, kumasi, ready. let's look at temperatures in north bay on the south bay, little bit cooler to significantly cooler than we were this time yesterday . in fact, double digits across the north bay, where we been dealing with fog, even that is starting to let up a little bit. for the rest of us, we are pretty close to where we were yesterday. let's going to san francisco. that means about 45 in the valley to about 50 in ocean beach. just not as much cloud cover yesterday. enjoy the earlier sunshine. 39 right now in santa clara, and also american canyon, 37 in palo alto, 36 in hillsboro, and petaluma. everybody else in the mid to upper 40s. for our kids, yep, they might want to dress a little warmer in those aforementioned areas. look what happens, sunshine by 11:00, 51 at the coast, mid to upper

so what's the business reaction been to the announcement well maybe to begin with sold the stock of mentors to united for example here at the new york stock exchange should trade it up by about 7 percent we also have 2 of those other teams liverpool for example being owned tier in the united states by a fenway sports group who also own the boston red sox and then we also have arsenal who also belongs to an american billionaire you could imagine we might see more t.v. games being shown so that could be good for cable operators but having all that said also on the business side there is the customer right and that's the fans and most fans do not seem to be too swilled and we really i'm curious if this super league will be really will be. to see the light of day as we heard here on monday and thanks for the update. now let's take a look at some of the other business stories making headlines around the world brazil has received 3000 liters of a pharmaceutical in greedy and for a covered 19 backs in developed by china's sign a rock that amount to help the country manufacture 5000000 much needed doses brazil has been hit severely by the pandemic recordi

. >>> taking a live look right now to the board, the new york stock exchange, dined out down by about0 points. >>> a new study about facebook could been trouble for the social media company. information the study says is showing up in your feed. >>> now at six:37, checking in with our commute and jobina. >> hi, guys. good morning, everyone. we will begin with a hit-and- run crash in san leandro, that is involving a big rig and starting to cause backup in the area, you can check it out here on the map, speeds are down to about 10 miles per hour. is will be on northbound 238 four 880. the backup extends beyond 580. one is blocked right now, mike was talking about this earlier, the fog is not that bad. if you are traveling along 101 through novato, brentwood, anything like that, it is looking good. i can prove it to you with this camera here, live look in san rafael, showing you want one right now. also, i would like to bring in the bay bridge, because interestingly, we have been seeing this trend of the metering lights coming on shortly after 6:00 am. they are not right now, but it is b

the long-term capital gains tax to 43.4% for the americans. >>> let's take a live look at the new york stock exchange morning, you can see we are down right now by about 60 points. >>> america's largest asian grocery chain is opening a new location in the south bay. 99 ranch market is set to open late summer at san jose's westville oakridge mall. the supermarket will also have dining options, curbside pickup, and in store and take out options. the company says, there also be several sections of hot food, including barbecue, noodles, soup, dim sum with dumplings and buns, and the store is going to be the 54th, here in the u.s. >>> just two days away from the oscars, experts are getting their predictions on who is going to win hollywood's biggest night. still, in the best actor category, it's into the dissipated the late chadwick bozeman will win. if viola davis wins backed asterisk best actress, she will become the first black woman to win two academy awards. best picture and best director are looking pretty good for nomad land and the director, she would be just the second woman to win best director

about 200 pilots are also being added back in rotation. >>> let's take a live look at the new york stock exchangeay this morning. you can see we are up right now by about 90 points. >>> a new study finds a bay area city is the most relaxed city in the entire country. sunnyvale, topping ranking, based on 37 key then atmosphere. abc news reporter will ganz talked with sunnyvale's mayor about what makes it such a great place to live. >> people might think that everyone in california is just lounging around in our hammocks, but actually, sunnyvale is a work hard play hard community. sunnyvale is the heart of silicon valley, and a world- renowned job center that attracts businesses and talent from around the world. but, you know, we have beautiful weather, wonderful parks, and, you know, just selected as america's safest city. all that adds up to be a really terrific place to be, and of course, relax. >> san francisco ranked third in the study, just behind arlington, virginia, bellevue, and seattle, washington rounded out the top five. are you feeling relaxed? >> let me check in with myself. >> okay.

. >>> let's take a live look now at the new york stock exchange. right now, down about 117 points. te on the markets, next. >>> the ti discuss it with your children. >>> before we get to those stories, we want to check in with jobina for a look at the commute. hi, jobina? >> hi, guys, thank you so much. good morning, everyone. so far, so good on the commute front, it's very packed at the bay bridge toll plaza. metering lights came on at 6:27. if you got to head into san francisco from the east bay, it's not looking so great right there. hopefully no blocking issues. i'm tracking the speed for you on the bridge. we are averaging 27 miles per hour, as you get past treasure island and make your way into san francisco. everywhere else is looking very nice, live look in san jose, showing off 101. it's a bit cloudy, but everything else is nice. i'm so happy to report that for everybody. mike, how is it going? >>> that is great news. thanks, jobina. going pretty well for our weather forecast today and tomorrow. then you know, wet weather is coming this weekend. very uniform air mass over t

. >>> looking live right now the big board, the new york stock exchange down right now by about 135 pointsdate on the market, next. >>> a furry surprise in the east bay, was going to happen to the skins rescued by the fire department? >>> as we head to break, taking a live look outside over disneyland in anaheim. nice friday shot for you. the theme park is reopening to telephone your residence today, and if you want to see more of this shot, we ♪ ♪ ♪ when it comes to your financial health, just a few small steps can make a real difference. ♪ ♪ ♪ learn, save and spend with guidance from chase. confidence feels good. chase. make more of what's yours. >>> welcome back, gauche of founder derek almeida will back in court today. he pled guilty in january to 36 counts in the deadly oakland warehouse blaze. and he was sentenced to 12 years in prison in march. almeda may spend the remainder of his term at home as part of a plea deal. a judge also ordered him to pay about $181,000 to the victims families. later this morning, they will be a restitution hearing, where that is expected to finalized. >>

now let's take a live look at the new york stock exchange as trading gets underway this morning. can see, we are starting down right now by about 180 points. >>> sales force will reopen offices next month, starting with the san francisco headquarters. the company share this video from its australia campus. it illustrates what the inside of the san francisco tower will look like. with socially distant workspaces, and daily health screenings. sales force also plans to reopen it palo alto and irvine offices. they will be grouped into cohorts of 100 or fewer vaccinated employees. they will eventually allow unlimited number of unvaccinated workers to return. sales force is already reopening more than 20 offices worldwide. pizza delivery from a self driving car. that what customers in one houston neighborhood will see when they order from dominoes. the pizza chain has teamed up with the mountain view based autonomous car company, neural. companies place an order online. when the car arrives, they punch in a special code. boom, the doors open and your peaches there. no word yet if they w

. >>> taking alive look at the big board at the new york stock exchange, down right now by about 85 pointste on the market, next. >>> if you've been thinking about trading your car in, maybe now is the time. makes and models going for a pretty penny during this used- car market boom. >>> now we are checking in with jobina for a look at the commute. hi, jobina. >> thank you, good morning, everyone. we will start here with a live look outside at the there is some moving traffic westbound as you make your way into san francisco. metering lights are on, so that is something to keep in mind, because the toll plaza is looking packed right now. bringing you a live picture here from the san mateo bridge, traffic is also building as people make their way toward the peninsula this morning. we are really starting to see things slow down in san jose as well. we have a three car crash here on northbound 101, before mckee road. injuries have been reported here as well. i will keep an eye on this as it develops throughout the morning. good morning, lisa. >>> jobina, good morning to you. we have a beautif

the march report will be released tomorrow morning even though the stock market will be closed for good friday. >>> let's take look at the stock market now. the new york stock exchangeng gets underway now. you can see we're up by 60 points. >>> the prices for some brands of toilet paper and diapers can be going up. scott toilet, huggies, pull ups and other staples. the company's costs are rising. that is getting passed on to customers. the increases will be in the single digits. you can expect to see higher prices starting in june. >>> community leaders in freemont say residents have done a good job. teresa cox hosted virtual town halls to update the community. the panel included the chief medical officer. >>> we are making progress. as you see, it's not anywhere near majority yet. that's why we get the vaccine supplies to kick up in the next few weeks as i mentioned. really going to need to work hard on getting everybody vaccinated. >> since february 1st, washington hospital has given more than 26,000 vaccinations to 15,000 people. >>> at abc 7, we're committed to building a better bay area. that includes the impact the pandemic is having on our economy. every week

it's time to talk about the opening bell of the new york stock exchange where the dow is up 131 pointsht now. s&p 500 hovers near record highs on pace to notch a winning week. >>> pre-pandemic level surface on b.a.r.t., it could be fully up and running by this fall. b.a.r.t. officials say as soon as september, trains will run until midnight again and they'll actually come every 15 minutes, rather than the 30 minutes they're going right now. b.a.r.t. has been increasing that service in recent weeks as riders slowly return. however, the agency has taken a big hit in ridership and its bottom line during the pandemic. >>> live now to the bay bridge toll plaza you see right there and we told you last fall, bay area toll workers and cash tolls, they will never come back. that's now going to apply to all the bridges in california. the state was already heading that way. the pandemic just sped things along. >>> well, a recent deep freeze in texas didn't just take a large human toll, it also impacted thousands of sea turtles who were so stunned by the cold snap, they were in danger of dying. th

be seen as as a litmus test for the broader market it's the 1st currency exchange to go public it's going to be worth probably more than the owner of the new york stock exchange when it goes public today so it's extremely highly valued because of the interest in the market right now but there also are still a lot of outstanding concerns because the cryptocurrency market remains so volatile that means that their business is going to remain volatile and that's something we haven't really seen with with it with a publicly traded stock and so there is a lot of excitement today but it's going to still be a bit of a volatile ride for a point base well let's look at the market interest of the investor interest because i mentioned just a few of those the cryptic currencies traded on coin bays and if somehow you can see the woodford trees i mean which ones are with looking at more closely. well for the biggest revenue centers are the most popular crypto currency so bitcoin accounts for about 44 percent of their transaction revenue theory about 12 percent the rest are. these other newer crypto currencies so that is a growing market but one base is also going t

. >> it is a platform like the new york stock exchange of cryptocurrency where you can buy bitcoin and other coins and it has been around since 2013. right now, there is not a clear easily accessible way to own the crypto economy or ecosystem, so there has been a lot of fervor around coin base because it gives it that kind of exposure. >>> here is a look at the stocks today. the nasdaq and dow and s&p closing up and in the green today. >>> still ahead, a surge in travel during the summer could be on the horizon and what the cdc now says airlines should do to keep passengers safe. >>> and two e. bay teachers are inspiring teachers to learn about and love science. >>> coming up, more than three dozen fully vaccinated people are infected with covid-19 in sonoma county. what we know about the cases and what medical experts are saying about it. >>> free school lunches for the community started during the early days of the pandemic as an emergency measure to give people food, but lately demand for the lunches has dropped off dramatically and many schools and what officials say is happening.

it worth more than the parent company of the nasdaq and roughly the same as the owner of the new york stock exchangese has seen profits explode amid rally in the price of bitcoin which topped $60,000. bitcoin hitting that record earlier in the session. >>> sales of champagne starting to bubble up again. the country reopens, folks are turning to the bubbly. sales up 88% in march, according to nielsen iq. a big producer of two brands reported a 22% increase in the first quarter of the year and posted a 17% decline last year as its two biggest markets in the u.s. imposed widespread lockdowns. some distributors are having trouble securing cases, maybe partly due to so much demand especially as restaurants are back in the game, reopening for indoor dining. there's the latest headlines from cnbc. marcus, i know you're a champagne guy. i'm a sham pin person, too. i'm partial to both. >> you and me both. i'm so upset about a lot of the things with the pandemic but the polo classic every year, i was hoping to go last year, but you know, because of the pandemic that was all wiped out. maybe when it opens back

yearit's taken place, what it's going to do is tear down that wall, that's larger than the new york stock exchangeng to have to reckon with a cryptocurrency that's more institutional than they thought. that's going to be good for cryptostocks, and for direct holdings of cryptoassets. >> bigger than nasdaq? christian, you said there would be a land rush to own coinbase will you be buying it who else will likely be owners? >> we have about 27% of block's portfolio of crypto and block chains exchanges, so coinbase should fit into that. as well as the fin tech. we should see ipo etfs pick it up over the next month to two months. >> a lot of new ones coming in as well. >>> tune into etf edge when matt and christian tell us more about why coinbase will be the game-changing digit at asset and the business has been waiting for the tim seymour will update us on pot etfs, the best performing etf class of the year iss ckig aer iba rhtft th ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ we now find that 85% of individual investors are interested in sustainable investing. among millennials, the interest is even stronger.

you want to keep prices relatively stable at the end of the day. >> on the new york stock exchange, no running. that's one of the most important rules. no running. our correspondent talking to us about the direct listing. we are waiting for the first live trade. we have been getting indications around 380 or $379. right around that hundred million dollars valuation. let's take a look at the stock of the hour. >> this is coinbase, forget bank earnings. this is a shed moment for the industry. they are anticipating this listing and everybody wants to know what it's really worth. this is the first time a major cryptocurrency company is listing in this way. the reference listing was $250 per share. this is the listing reference in the shares will not be shaking hands at that price. we have been monitoring those price indications throughout the day. the latest at 300 $80, putting us shy of the $100 million market valuation. this is a way to regulate the industry. it's a mainstream way for investors to invest into digital currency. but there is a risk, this is closely tied to the performance

the crypto exchanges debut hi, hi, heleslie >> tomorrow's debut is traditional. it's the nasdaq stock market first large direct listing all the others in recent years went with the new yorkck exchange direct listings skr become a traditional way of going public. direct listings haven't involved capitol raising mean companies won't sell shares at a set ipo price. the price is determined by supply and demand in the market. for nasdaq, the stakes are high. it's important for the exchange to show it can flawlessly exkuts direct listings just like its c competitor also coin base could be the largest listing by market cap. coin base has been valued around $90 billion. layer the crypto fan base which is expected to turn out in a big way. earlier today coinbase ipo was trending on twitter. that could impact the volume of shares traded tomorrow if all goes as planned, the upside is big. tyler. >> all right thank you very much. we appreciate that. the opportunity outweighs the risk the firm initiating conbase ahead of its public day bow. warning this is not for the faint of heart do you like this company as a buy or not we have given away that. >> number one reason is own coin bas

the big board of the u.s. crypto exchange. they are expected to go public with a valuation of about $100 billion, more than the combined value of the new york stocke nasdaq. that is the latest business flash. alix: for more on coinbase, mike mcglone of bloomberg intelligence joins us now. it is an exchange, but it is going to trade like bitcoin. mike: they make money. they are a liquidity hub. remember microstrategy? they bought most of their shares on coinbase. i like the way you started that segment, that $100 billion. where is that going to go? i think a lot of that is going to trickle down to bitcoin. people are using this as a hedge for part of their bond portfolios, replacing gold with bitcoin. it is part of that whole infrastructure. typically this is a really strong year. guy: we just compared it with a bunch of exchanges. is that the best comparison? is it an exchange, or more of a brokerage firm? mike: i think it is both. part of it is it holds a lot of custody. it makes money on the custody. it is like this new world where people just love to trade. as an ex-trader, i dream of those spreads of 20%. it is just wonderful. to me, this is

the largest u.s. crypto exchange, coinbase, ended the week valued at $68 billion, which is more than the value of the new york stock exchange. what happened? the ceo and founder of galaxy digital, and known for being one of the early adopters and supporters of bitcoin, explains with hindsight he said it was perhaps inevitable. markets got too excited around the coin ipo, the direct listing, basis blowing out. coins like doge and others are pumping. all were signs that the market got too, quote, one way. there was also speculation on several online reports that the treasury department was perhaps preparing to crack down on money laundering that may or may not be carried out in some of these digital coins. bloomberg reached out to the treasury department, there was no comment. an email to one of the divisions reminds us that the treasury department does not comment on potential investigations, including on whether or not they actually exist. shery: su, the so-called alt coins were the exception to the selloff. what is the story there? su: this is just mind boggling to many who are watching the rise of those coin, --

and i am not surprised that coinbase -- you know, they are listing on the new york stock exchange, orink, so there's still the legacy -- one will get their share. but part of this whole thing is cutting out the middleman. matt: joe weisenthal, thanks for joining us. catch him on "what'd you miss?" that will be at 4:30 p.m. new york time, as usual. amber, thank you for joining us. i'm matt miller. this is "bloomberg markets." ♪ get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. mark: today, congressional democrats will start considering president biden's 2.2 trillion dollars spending and tax proposal. it is up to house and senate leaders to determine how to

here is the president of the new york stock exchange. >> the american dream is not only about being ablestart a business and earn a living, it's about sharing that success too it's a story of shared success every day here we see companies coming in, changing the world and allowing investors to dream along side them. financial literacy is such an important part of that investors now how to take advantage of the opportunities that are out there for them. just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪ what happens when we welcome change? so thank you. we can make emergency medicine possible at 40,000 feet. instead of burning our past for power, we can harness the energy of the tiny electron. we can create new ways to connect. rethinking how we communicate to be more inclusive than ever. with app, cloud a

that is more than the combined value of the new york stock exchange and the nasdaq.s in china -- to become a financial holding company regulated more like a bank. significant guidance for the technology company since they hold at record ipo's. the people's bank of china also told us to rectify unfair competition in its payment business and end information mably. microsoft is taking a massive that on health artificial intelligence. the health-care giant has agreed to by nuance communications in a deal valued at 19 $7 billion. that represents a 23% premium to nuance. microsoft is working with nuance on artificial intelligence software that helps doctors capture patient information and health care record. guy: that is the pitch this morning. that is the pichai red first thing this morning. -- that is the pitch i read. this is a deal about health care. nuance has the potential to do so much more. you can think about the potential of this deal when you think about what else microsoft does. this will be part of office, this will be part of 360. it will not be limited to he

the way to think about coinbase is as an exchange. it takes 0.5% on every transaction. so the real comparison is the new york stockdaq, and by the way, coinbase's valuation is about the same as the other two added up. so it is not a question. when we look at coinbase, we should not be worried about the volatility of the underlying cryptocurrency. what we really should be looking at is the number of transactions which are likely to increase. lisa: how much should we be worried about regulation? michael: there's a lot to be ironed out. one of the issues is tax treatment. the irs says bitcoin is not currency, but rather property. the regulation has always taken a while to catch up with technology. in this case, it looks like it is keeping pace. the bigger issue is that this offering is really more about the sort of coming out party or the first public listing of a currency which is going to be an inflection point for the rest of all digital currencies. lisa: i hope i have $100 billion party coming out, too. i wonder generally whether the valuations are inflated, based on everyone trying to get ahead of growth in the

world, and you can have real market value in something such as a centralized market such as the new york stock exchangese was great, the coinbase ipo what really well. it was above i think what many people expected. it did have a little bit of a dip, and the jay powell quote was really interesting. but if the government does not recognize cap the currency and thinks it is just a speculation, the u.s. government is going to get left behind, and thus the u.s. people are going to get left behind. we need more companies like coinbase and lolli that are leading the way for mainstream adoption of bitcoin, not just being a speculative currency, but actually a currency that is being used by millions of people. taylor: big words there. alexis, do you agree? has this really legitimized a business that you believed in just a few years ago? alexis: very much so. i was very fortunate to have been among the earliest investors in coinbase something like eight or nine years ago. those were the early days of cryptocurrency. and we have seen two waves of adoption here. we have seen mining, we have seen buying, and i rea

let's take a lighter look at the big board, new york stock exchange up right now by about 80 points. e making a big investment into the tens of thousands of tech jobs. you won't find them in silicon valley. >>> we will get all the stories in a moment, but first checking in with jobina for a look at the commute. >> good morning. we will start with an update on the crash in the work that we were following, involving five cars. you will run into some stop and go traffic in the area on southbound 80, before stevenson boulevard. also, the car fire in san francisco has cleared, and everything is moving there on north on 280 past geneva avenue. we want to bring you to a live picture showing off the bay bridge toll plaza, where metering lights came on earlier than usual at 5:58. the back of isn't too bad there. i'm also bringing you a live picture showing off the richmond san rafael bridge. the clouds moving out of the way, but they were very pretty earlier there this morning, lisa, how are you? >> good morning, jobina. you are absolutely right with that morning sun coming up. fewer clouds th

new video shows a child getting dragged under a machine. the company's response this morning. >>> you are looking at the new york stock exchange. other update on how the markets are doing, next. >>> a lot of history could be made at the economy awards. a closer look at the nominees. >>> first, we are going to bring you sue hall with the check of the morning commute. >> reporter: good morning, everyone. it is looking pretty good so far. it is relatively light for a monday morning. we'll take a look outside. first of all, let's go to oakland. 880 is moving nicely coliseum. both directions flowing at the limit. if you are traveling towards the bay bridge, we will take a closer look at the toll plaza. no delays. no metering lights yet. if your travels take you along the 80 corridor from hercules to san francisco, you are looking at a brisk 32 minutes. that includes through the toll plaza and into san francisco. one problem commute has been out of the central valley. we had an earlier accident. and then an earlier accident near isabella. those are all cleared now but we will take a look as you make your way in. you can still see the

if you are not into crypto currency, basically, the role of coin base is like the new york stock exchange handle all of the trade. you want to buy bid coin? they take a piece. they are the house. just like the casino. they are the house.the house.th >> who knew you were so into crypto. >> i don't want to invest in anything i don't fully understand. i must confess i do not fully understand what they are saying. >> same here., a dinosaur but i am still trying to wrap my mind around it. >> larry, i will >> give me your money dan and liz and i will take care of it, trust me. >> also, my phone -- my connection is a little bad. if you can't reach me, don't worry about that. i got you guys. >> reception isn't great in the islands, is it? >> exactly! >> if i am underwater how can i take your call? >> we will think about it larry.>>> a hiker became lost in a national forest and is saved thanks to a map, and a single photo. >> you don't think looking at a computer and saying that looks like there may be will result in a rescue. >> a hiker text is location to his friend saying his phone was about to

. >>> let's take a live look at the new york stock exchange this morning. re up right now by about 100 points. >>> if you have extra money and extra time, maybe the new polaroid instant camera is for you? the polaroid goal is four inches long and two inches tall. pictures take about 15 minutes to develop. it is designed to be worn. it will cost you about $100 and the camera will be available next tuesday. >>> if neighbors looked at the skies yesterday, they were in for quite a surprise. a d in their backyard. it was built off-site, brought to the neighborhood, and a 500 ton crane moved it over the house and lowered it onto the foundation. >> we have a big family. i have eight kids. we want a home for the kids to start to visit when they come home from college. we want to relatives when they come visit. our house isn't big enough for all of that. >> the unit has a complete kitchen and bathroom, power and water hookups, and it took less than six months. >>> taco bell looking to lessen its impact on the environment one sauce packet at a time. they are teaming u

emily: i interviewed you several times in your formal role as -- at the new york stock exchange.orts of stockx considering going public. what can you tell us about your plan to go public and any plans of accepting cryptocurrency as a payment? stockx i have gotten -- scott: i have gotten that question so many times, but you will remember our conversations before, there are hundreds of companies that are preparing are going public. to for us, no different than them, it is the execution of our strategy which is really expanding our platform around the world, expanding into other categories, and being able to execute and operate on that business plan that opens up opportunities for public ipo at some point. but executing on that business plan is an anti-to all of those other opportunities. this financing we are announcing today is a step in that direction. we have a great shareholder list today that includes public and private investors, some leading investors in the world. it is a part of our strategy of building a set of partners for the future. emily: 15 seconds, accepting crypto,

narrowing leadership at least at the moment so if you want to also take a look at new 52-week highs and lows, that's a much more positive picture both on the new york stock exchanget's pretty good but the overall skindex is at a high 20 new lows. the vix mentioned earlier, you've seen this volatility collapse it's been a much quieter market. realize volatility down, the mega caps leading. that usually does put downside pressure on the vix and sort of reinforcing maybe higher equity exposures on systematic strategies, wilf. >> mike, thank you just under one minutesara said,e to take us, the dow up 0.8%, s&p up 0.7%. we'll have record closes on both indices. the nasdaq also rallied but only up half a percent and still a little way off its record close. health care, consumer discretionary the best two sectors, up 1% three sectors in the red energy is the worst performer, down about half of 1%. we do have the vix lower as mike as saying, 16.6, well below the 20 mark, the 10-year hovering around 1.65. at the close, record close for the s&p 500, up three-quarters of 1%. the dow is up 0.9%, the nasdaq up half a percent, not quite a record there, but the nasdaq the winne

news alert on square space kate with the details there. kate >> square filing were a direct listing. they are going with the new york stock exchange ticker will be sqsp. this is a software company reminding people to use square space to make websites and it's profitable going into this direct listing they reported 30.6 million in net income on about 620 million of revenue last year revenue is growing about 20% year over year profitable going into this event. the company was last valued at about $10 billion in its last funding round. they had submitted a draft to go public confidentially. we're getting a couple more details. this is the latest company to f forego the traditional ipo. >> i guess they don't need investment bankers >>> there's one sector of the market that's rarely talked about but could be a big beneficiary of an infrastructure plan we'll break it down. >>> a store you don't want to miss man taken into police custody, charged with stealing taxpayer money meant to help small businesses during the virus pandemic that big cnbc investigation coming up next keep it right here stay restless with the icon that does the same

amazon and the growth in teams that we have seen >> coming from the only guy at the floor of the new york stock exchange now i would love to see a hybrid model take hold just touching on the moving averages of the stock. this stock habitually tagged the 50 day the stock is at 2:53 now p postearnings i was looking for a drop of 7% i would like to see this tap the 50, then start back up on the staircase that it has been doing and anyone with achart, home gamers can look at the moving averages this is tagged, a 50 day moving average, habitually almost once a month. so i expect this to trade lower and then ratchet right back up i think, guys, valuation is the key. >> so your entry is around 242 >> jcorrect. >> let's get on to alphabet now. >> melissa they are just kicking off that call on a somber note saying the recovery is far from uniform across the globe as tragic scenes remind us. in terms of financials, it is really a strong quarter. google is being seen as the winner along the mega cap group and the results justifying that performance. a 30% plus gain this year. i spoke to the cfo and she attributed

and small caps up half a percent. >> ringing the bell at the new york stock exchange today is wall streetg the organization's mission to recruit and train 10,000 diverse years for careers in finance by 2030 a big shout to troy prince for all the great work that he is doing. >>> welcome to "the closing bell." i'm scott wapner for for wilfred frost along with sara eisen and mike santoli new records for the dow and the s&p. pretty good day there, up 372 plus for the dow rates holding steady, which meant that the nasdaq was getting a decent boost there's the s&p, up almost 1.5%. not a record for the nasdaq but still 225 points higher. very strong day. >>> coming up, the world bank president, david malpass reacts to janet yellen's new push for a global minimum corporate tax nancy is still with us greg brants joins the conversation mike, first comment to you. >> look, it was a faang-type day. we did have the great jobs number on friday that had to get priced in. it did in terms of some of the travel type names. the consumer did fine. but really what's interesting to me here is the market is sor

. >>> now, take a live look at the new york stock exchange. are still up right now by about 225 points. the u.s. labor department released the latest unemployment reports and the numbers are encouraging. 576,000 new claims were filed last week. that's a new pandemic low and a decrease of 168,000 from the revised numbers the prior week. economists had focused 700,000. there are 3.7 million continuing claims which is about 4000 more than revised figures from the previous week. >>> at abc7, we are committed to building a better bay area including the impact on the economy. the weekly job segment includes looking for rules that are made for you. there's sounds made for a lot of us, especially if you like to take a drink. >> reporter: i been doing a lot of alcohol related stories. okay. well, anyway. [ laughter ] jackson family winds, tornadoes, bacardi's, so many others will be part of a virtual job fair next thursday hosted by be the change. it is dedicated to creating an equitable workforce in the alcohol and beverage phase. >> reporter: she has