by state governments to house prisoners private prisons do so well some of their biggest investors are banks like wells fargo bank of america many private prisons demand 90 or even 100 percent occupancy meaning the taxpayer foots the bill for every bed even the empty. for profit prisons are incentivized to incarcerate more people and for longer periods of time to shoulder to make sure that happens they spend. tough on crime. today nearly 10 percent of america's prisoners are held in private prisons and they also spend millions influencing immigration with detained immigrants are held in private prisons for indefinite periods of time often years exposed to brutal conditions because they're not americans the government gives them no right to even the most basic legal representation or medical care 3 housing facilities were set on fire and apparently all started over inmate frustration over the quality of medical care perhaps needless to say being treated like cattle and used as forced labor for pennies an hour is not that popular on the inside but that's not the worst of it the socks if you refuse the underwear that is you is

largest banks lent more than $3.8 trillion for fossil fuel projects since 2016 following the signing of the paris climate agreement. top lenders included jp morgan chase, wells fargo, bank of america, citibank, and the bank of china. nbc new york has revealed the new york police department has issued over 217,000 secret subpoenas to force internet providers and other companies to hand over personal information for tens of thousands of people for so-called internal investigations. targets of the subpoenas include journalists and officers who criticize the nypd. one target was philip insardi who retired from the department in 1993. he was alerted by microsoft after the nypd demanded access to all of his emails citing a provision under the usa patriot act. >> wasn't created to go after a retired cop. that is not the patriot act. absolutely shocking they were abusing or are abusing the patriot act to investigate civilians. amy: one retired police captain compared the nypd to the gestapo. the senate has confirmed dr. rachel levine to be assistant secretary of health. she becomes the first openly transgender official to be confirmed by the u.s. senate. and president biden signed a procl

of what the corridors could look like. anna: wells fargo ceo there. very bullish comments coming from wells fargo. bank of americalling us that the boomers are spending again. even before the stimulus checks arrived, things are looking brighter in the u.s. we are seeing plenty of upgrades in the u.s. mark: it plays into the scene you are talking about. growth is very strong and therefore inflation will be very strong this pulls into the yields argument. even as european forecast have been downgraded. now the u.s. is meant to grow way faster than europe. 1.4% faster than europe. it was only november third went the elections had europe growing faster. that shift has been massive in favor of the u.s.. anna: absolutely. i remember last summer talking about the european recovery. let's talk about the ipo phenomenon as well as this fact phenomenon. they have raised euros by selling shares of their mobile phone. trading of the towers will start today bringing europe within sight of a record is quarter hall from an initial public hauling -- offering. dani burger is here with a look at the phenomenon it is the ipo market

of places we're we're seeing things play out is the rise in bank stocks. they have been beaten up a little bit up 3%. wells fargo up 2%. bank of america up 2%. regents financial and the etf all up op the day. we'll check out some of the u.s. media companies at the heart of a lot of the hedge fund talk these days. there does not appear to be much market reaction to this. this was not the case back in 1998 when hedge fund long term capital collapsed forcing bail out by fed and 14 financial institutions were involved what's the same and what's different now? jim was the general counsel for long term capital back in 1998 he's also the author of a current wall street journal best seller the new great depression jim joining us now thank you so much for being here with us. you had a very, very big and very front row seat view to what happened at long term capital. take us through what exactly you see similarly and different about archegos versus long term today and then >> great to be with you. there's a lot of similarities. i don't want to be scary, there were definite mistakes made. they were identified at the siem they were never fixed. here we

well i have citigroup we haven't seen this name in a long time. a lot of different financial names, wells fargo hits consistently, bank of america, a lot of those namesound $73 a share, buying the april 76 calls. those were going for about $1.15, about 5,000 were bought that stood out because we haven't seen that name in a while. i will lastly give you wheaton precious metals. they went out to may they're buying the may 40 calls, 7,900 calls bought as well today. we are seeing industrial metals, seeing some in the precious metals and in the financials we have been talking about some of the areas where we've seen a lot of activity. it has been in the material space, been in the industrial space, been in the financial space, and those are the names and those are the sectors that have moved mostly to the upside of late. >> thanks for that, pete >>> straight ahead, the trades on today's biggest analyst's calls. "halftime" is back in two. [music: “you're the best” by joe esposito] [triumphantly yells] [ding] don't get mad. get e*trade and take charge of your finances today. diane retired and opened that pottery studio. how did you come up with all these b

. >> you're buying bank of america and wells fargo. they've already roared back. >> absolutely. how high is high how low is low do you or i know the answer to that i don't. >> you wrote the book on buying high and selling higher so you must be the expert >> i'm not an expert on very much i respect movements. look, i'm not going to sit here, scott, and present to you some thoughtful, fundamental analysis because guess what stephanie told you why you wanted to buy wells fargo and why you wanted to buy bank of america. what i know is i don't want to lose money and when i look at the street right now and i look at the expectations in terms of eps and i look at price targets for both of those financials, guess what over the next 90 days they'll have positive e perk s revigdz and the price target for both those stocks are below where the marketplace is for each one of them and there has been a fundamental improvement just by the economic optimism that is so transparent right now. >> i'm seeing moves from everybody that agrees with the premise of the boom trade of how we set up the sho

you have sold bank of america, wells fargo and the regional bank kre take my through that it bronc above 1.2%, for multiple months. what we saw thereafter, scott, was a 55-point basis move higher in the course of 25 trading days that velocity is extreme by any measure. i trade risk i focus on exactly what is my risk during that experience, i increased my exposure to entities sensitive to the move higher in yields ujtsds i do not expect as it relates to treasury yields i want to that's down another name i think that's one you can't in that exchange of performance. it was up, it seemed like 3, 4, 5% if not the week before. i think brenda, jim and i are the only ones on the desk buying below 200, there's a lot of hair on boeing i think it's going to have to start delivering is boeing goods to right itself and move back up on the floor 300? i wanted to take my chips and go home >> this is a you are buying norwegian cruise line and spirit airlines i'm much more of a secular growth, but i'm renting these names as reopening you look at southwest and alaska air, they're well over their january 2

march i mean jp morgan is down to only being up 1% in the last month instead of up 5 1/2% capital one, bank america, wells fargome of those were up double digits over that month and now they've pared that to less than half of that again, i am talking about the last 30 days so i think it is all a function, scott, of whether or not these banks continue to see that yield curve steepen as quickly as it did, and instead, if it is pushed out, i think they will do very well, but i think it plays into my game more of being a seller of those upside calls that caps my upside but nonetheless creates a lot of crash flow in the short term. >> i will tell you another interesting call i'm looking at is this bank of america upgrade of bank of new york mellon the reason being is they had an underperform on the stock. they go all the way to buy today. the target goes to $50 from $43. i should note for you bank of new york mellon is trading at levels not seen since january of 2020 it has been a little more than a year for that stock right there, bk, which is up about 3.5% today. up next, we have unusual activity with the doctor p

this is from morgan stanley world, the bank of america world, the wells fargo world. ruggle to break that 3900 level. amazon, apple, tesla. in line with about 12% of the overall index. even though the financials yesterday were up 13%, look at the 30-day performance of these names. apple down 11%, amazon down by 10%, tesla off by 23%. the headline number will struggle. i have been talking about it's been obvious this is the story. if you want the s&p 500 to go higher, these have to stop going down and fast. can we breathe some life into that trade? in the bond market. this went down to chairman powell. down about two basis points. 30-year down four. this will be all about chairman powell later. how comfortable he is and does he feel the need to lean in a little bit. tom: we mentioned the real yields. i am watching the two-year yield like a hawk. after last thursday, don't tell me you can't move. jonathan: rate hike expectations as well. outside of what happened on the long end, that may be made the chairman a little uncomfortable. >> capital, amazon, tesla -- apple, ama

of disney, walgreens and home depot closed higher. wells fargo set ambitious goals to have gas emissions by 2050 joining goldman sachs and citigroup. bank of americaclimate accord. it's a big step for wells fargo. major backer of oil, coal and natural gas programs. >>> there's a new normal for one of the biggest retail suppliers, unilever. they'll drop the word normal. it says research shows 7 in 10 agree the word normal has a negative connotation. more than half of the people will pay better attention to the wording. >>> warner brothers cartoon skunk pepe lepu has been dropped from the sequel apparently for his lack of consensual behavior. >> we should explore the heights. it will pale into insignificance. >> deadline reports live action footage for a casablanca like scene with mr. lepew was filmed. when a new director came on, the decision was made not to have the scene. i say good-bye, pepe. >> au revoir. as a gen x woman i remember watching with horror of the antics of that skunk. >> there were plenty of other -- >> animated king of the unwanted advance, pepe le pew. i'm christine romans. >> i'm laura jarrett. "new day" is next. removes germs

of interest rates. >> big, yeah. >> and i remember a conversation we had yesterday with joe terranova, and i think he had taken profits in wells fargo i think it was -- maybe it was bank of americacan't remember off the top of my head. but the idea, those stocks have run a long way and maybe interest rates are topping out in the near term. >> yeah, you know what that certainly could be, or are they just pausing for the moment you know, none of us know the answer to that but we'll see how this plays out but i still have an incredible amount of financial exposure because of the fact they had gotten so beaten up. we look at these stocks the same way we look at the airline stocks and other stocks where they didn't really participate very well in previous years. so because of that, i still do think there's still room for extension to the upside. >> got you, pete thank you. josh, forgive me i have to go to janet yellen who is participating in the q & a portion of the hearing. >> -- median or below, and if the assistance can be for up to 15 months. we're trying to provide grantees with flexibility to operate, establish their programs, and open operate them within those parameters but w

of fresh 52-week highs among banks. including bank of america, wells fargo. we'll be right back. on national security. red six, a santa monica company, first to fly an f-22 fighter he actually started red six we're going to play sound. >> red six was born when we discovered an opportunity to make this work outdoor and in dynamic environments technical breakthrough. >> red six is using that tech with the first platform deployed to the air force this year company is small but growing fast investors like lockheed martin and others acquisitions head will roper and retired air force general mike holmes. >> we think the tools are coming together developed largely on the civilian side and now trying to work them into how they're affect military training and start with flight training i think the opportunities go well beyond that you could do this augmented reality training for ground forces do this augmented training for naval forces. >> roper recently joined a dronemaker board with a strong advocacy to tech sector and sees it an investment in the national security space. >> many areas

the past year bank of america is most sensitive to rates, so if you are looking to play a rates play, bank of america is your one. if you are looking for a restructuring story, wells fargok. we will come back and answer your questions you can e-mail, asalimkhfte at cnbc.com we're are back after this. we started with computers. we didn't stop at computers. we didn't stop at storage or cloud. we kept going. working with our customers to enable the kind of technology that can guide an astronaut back to safety. and help make a hospital come to you, instead of you going to it. so when it comes to your business, you know we'll stop at nothing. we see temperature control software giving everyone a shot at vital vaccines. at emerson, our software is shepherding medicines through every step of the cold chain, helping track conditions to keep each dose safe and effective. emerson. consider it solved. >>> all right. it is that time. let's answer your questions. jim, i'm starting with you it is from henry, guess where? philadelphia. >> kid has horse sense. >> henry in the hometown by the way, henry is a youngster. i'm a 14-year-old stock investor and i want to get into an industria

okay it tells the whole story of the market >> right >> bank of america is up 33% citi 23% goldman 41 % jpmorgan 28% morgan stanley 29% wells fargo 27%. why? because rates have gone up in lock step. >> i wish you were going to be right and tony, but i think rates are going to continue to go up. i didn't realize until reading his note this morning that it was in the fastest ten-week rate change in history. so they are going up faster than i expected, but i don't think we're going to get an eight-month pause or -- i think we're going to be above 2. probably in the second quarter i think we're going to continue this march higher. because the fundamentals warrant it i mean, we have incredible fiscal stimulus. we still have an easy fed. we heard from powell on wednesday. we have vaccination rates that are increasing the growth is going to be strong that's going to drive the steepening and the yield curve i think that's still going to help the financials. at some point it will reverse, and it will stop, but -- and i don't think we're there yet. >> you have jpmorgan and goldman sacs you're in the game here. >> right we're right in the g