tyler matheson joins us in a moment it's a crypto crackdown. china leading the charge but now countries are stepping up regulation and the u.s. is starting to think about a possible competitor. an epic battle tim cook taking the stand in apple's court case as the company is called the app store cut criminal a power struggle millions in texas lost power after the big storm and now turning to homes to survive off the grid "power lunch" starts right now >> good afternoon, everybody welcome. thank you. i'm tyler matheson we start with the markets because stocks shaken off most of the early selling the nasdaq positive for the week now. check in with bob pisani at the new york stock exchange. >> tyler, it's been a wild week. today we're right about right in the middle here. mega cap tech stocks growth is back most are up this week. apple might be down fractionally see weaker in the middle of the day. basically growth is back what do i mean look at the winners and losers this week. it is the growth sector. clean energy stocks. ark innovation fund is u

i'll join tyler matheson for that and more on "power lunch" that and more on "power lunch" right afteru can act quickly. that's decision tech, only from fidelity. (♪ ♪) you can act quickly. whether it's a technology first, (♪ ♪) a fashion first, (♪ ♪) a science first, (♪ ♪) or a first for us all (♪ get to value...first (♪ ♪) let there be change accenture front desk. yes, hello... i'm so... please hold. ♪♪ i got you. ♪ all by yourself. ♪ go with us and get millions of flexible booking options. expedia. it matters who you travel with. cell phone repair. did you knowpedia. liberty mutual customizes your car insurance so you only pay for what you need? just get a quote at libertymutual.com. really? i'll check that out. oh yeah. i think i might get a quote. not again! aah, come on rice. do your thing. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >>> hello, everybody welcome to "power lunch. i'm tyler matheson dangerously close to kelly evans but we're okay americans now have more of their financial assets in stocks than ever before. >> wow warren buffett is blasting s

tyler matheson joins us in a moment it's a crypto crackdown.but now countries are stepping up regulation and the u.s. is starting to think about a possible competitor. an epic battle tim cook taking the stand in apple's court case as the company is called the app store cut criminal a power struggle millions in texas lost power after the big storm and now turning to homes t

whatever you are invested in, i'm tyler matheson alongside co kelly evan j

i'm tyler matheson dangerously close to kelly evans but we're okay americans now have more of their financial assets in stocks than ever before. >> wow warren buffett is blasting spacs calling them a killer. after the initial frenzy the returns have been anything but spectacular. >> the reopening stocks versus the stay-at-homes. should you bet or uber or lyft we'll talk to an analyst throwing in the wipes on one stay-at-home darling "power lunch" starts right now >>> and we start with the markets on that reopening theme. that's where the action is today. let's go to bob pisani for more. hi. >> hello we are up but off the highs. buying yields moved down and bank stocks as well. but we are still doing really well and the reopening stocks matter so seeing steel stocks like nucor at new highs. restaurant companies and food delivery like domino's pizza, the companies package delivery companies like u.p.s. doing well and carmax new highs one group that's not reported yet, 60% earnings season, are retailers on an additional month and are to get the april ending quarters and many are hitting new high

i'm tyler matheson with kelly evans. bitcoin continuing to bounce back big up 30% from the low last week. still down 30% from the high last month what does it say about the stocks >>> mystery stock going on a buying spree to capitalize on the reopening, quadrupled over the past year. >> you will never guess it tillman wins the first ever cnbc nft auction. nearly $200,000 raised for charity. we'll talk to the generous winner as "power lunch" starts right now. >>> we begin today with the crypto comeback. bitcoin is higher today near $40,000 once again still down 30% in may and down 40% from the all time high over the past four years bitcoin tended to be a leading indicator for stock just the tops proceeded short material tops in the s&p 500. like wise for bottoms. way on the right side. you can see the recent drop in bitcoin. what does it mean for the s&p 500? let's ask jc o'hara, chief market technician at mkm partners what does the chart tell you >> thank you for having me everyone seems to look for leading indicators to

whatever you are invested in, i'm tyler matheson alongside co kelly evan just the dow was down 600 at the depth the nasdaq off less than half of a percent. >> crypto is crushed after china telling the banks no the to transact in bitcoin. bitcoin falling to 30,000 this morning but already come backstaging a huge comeback to 40,000 as we stand here today. >> a month ago 64,000? crazy stuff. the minutes from the last fed meeting just released. we will have the details we have to start with the big moves of equity and bob pisani is is the a new york stock exchange. >> we are well off the lows but still some weak mness in the market apple and the crowds you see flattish here. positive for the day most of the semiconductors are pass on the day. popular tech names, cathie wood stuff, still down off the lows but down 1%, 2%. you see tesla, twitter, on did declines materials and commodities weak today. they didn't have big selloffs this year. but they topped out. this is that peak everything story that i think is going to become more important. and in terms of where we are for the markets righ

i'm tyler matheson we begin with stocks because the selling resumed in technology. the nasdaq down about 1% and 5% in the past month. let's check in with bob pisani at the new york stock exchange for what's moving today. >> hello, tyler. it's a mixed market. health care, some other things like consumer staples doing well but the selling pressure in technology is an issue take a look at the mega-cap tech names here everything down 1% to 2% as a group this is 10%, 13 % frm the 52-week highs but held up better this is the clean energy funds cathie woods' ark funds. remember as a group here we are talking about down 30%, 35%, even 45% from the 52-week highs most hit in february show you the speculative tech names. cathie wood holds in the ark fund here. you can see down more than the rest of the market today tesla. we are talking off 40%, 45% off the 52-week highs and when does the momentum traders have abandoned this come back in to play this again? it's not there right now fundamental guys were not interested in this stock another thing to keep an eye on is reopening

llat yi' cchou with tyler matheson for "power lunch.♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ front desk. yes, hello... i'm so... please hold. ♪♪ i got you. ♪ all by yourself. ♪ go with us and get millions of flexible booking options. expedia. it matters who you travel with. do you struggle with occasional nerve aches, weakness or discomfort in your hands or feet? introducing nervive nerve relief from the world's number 1 selling nerve care company. as we age, natural changes to our nerves occur which can lead to occasional discomfort. nervive contains b complex vitamins that nourish nerves, build nerve insulation and enhance nerve communication. and, alpha-lipoic acid, which relieves occasional nerve aches, weakness and discomfort. live your life with less nerve discomfort with nervive nerve relief. i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. >>> welcome to "power

i'm tyler matheson we begin with the markets on the last trading day of may. what a month it's been the dow and s&p are poised to end it in the green with the nasdaq down about 1. 2%. small gains for the other ones why with volatility may shined a spotlight on the market and some assets that many experienced obs observers say could be out of whack. yesterday amc traded 1.5 times its total number of outstanding shares and then you got the crypto collapse bitcoin 60,000 before 32,000 off 35% back up a little bit since then median home prices fresh record high. material costs are up strongly 12%. lumber among them. inflation picked up. consumer prices largest annual gains since 1992 the fed balance sheet at a record of nearly $1 trillion and moving up fast and a red flag on the massive rise of thematic investing. bob pisani has more on that angle. bob? >> hello good to see you. everybody loves thematic tech investing. all exploding in popularity but watch out. morningstar warns the majority do not outperform the markets. they have high fees and high failure rates

. >>> well, welcome back, everyone tyler matheson here.ank you for pinch hitting for me i don't think i was a victim of a ransomware attack. but we did -- i probably was just the victim of my own incompetence i am my own i.t. guy in the bunker the sports betting stocks dropping with scientific gails and draftkings down about 5% 6% for scientific games. casino stocks having a huge run. amid the reopening come back with some names up as much as 244% however those same names sinking lower over the past month. there you see single digit declines one name worth highlighting is bally's. posting a net loss contessa brewer spoke with the ceo earlier today. contessa >> hi there, tyler they're on a roll and by a roll on a buying spree. it bought the brand name from caesars, bought the tropicana on the las vegas strip and bet works and sthaking a claim in a competitive crowded spasz. i talked to the ceo today after the earnings call about where the company's heading. we have a significant media relationship with sinclair which happens to be the numbe

i'm tyler matheson with kelly evans.e back big up 30% from the low last week. still down 30% from the high last month what does it say about the stocks >>> mystery stock going on a buying spree to capitalize on the reopening, quadrupled over the past year. >> you will never guess it tillman wins the first ever cnbc

i'm tyler matheson bad news in the job market is good news for the stock market today. bring in mike santelli for a look at what's moving and why. mike >> investors seeming to find enough to like in the underlying jobs number or less to fear without a hot number and see the s&p 500 year to date we are tentatively looking to break out to an all new all-time high does it look like a milder version of what we saw back here back in march? and then finally did break higher we'll see. we didn't have the energy built up financials versus tech either or. it's reflation and fast growth and tech lower yields, mur interest in the growth stocks. financials outperforming but today both are on the rise together so not necessarily always a zero sum game interestingly bond yields with a quick rush down and then hire. expedia is a big mover today very good earnings trends of bookings and confirms on the recovery path to get to earnings of 2019 on the downside take a look at monster beverage, a huge growth stock winner over multiple years. clearly not leveraged to the recovery they said