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tv   The Exchange  CNBC  February 8, 2021 1:00pm-1:58pm EST

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improvement and specifically related to pizza hut and kfc and the technical is gathering to go higher. >> and the man who used to play for the super bowl champs tampa bay buccaneers. >> i was excited for them yesterday, and unbelievable game. and amd, scott. they have not performed well, and it is time for the catch up, and time for them to go higher. >> thank you. >> and time for the pirate and that brady guy. okay. so the money printing and more stimulus on the way. and have the markets up again, but are we finally closing in on the end of the run tesla is buying over a billion in bitcoin and the market loves it, but is that the best use of the cash what might be the s.e.c. thinking of all of this? amazon in alabama and how one
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facility is on the verge of changing the way of 1 million amazon employees work and get paid. oil is back, and we will get more on the oil run higher, and all of that is ahead on the exchange, and when we will begin with the overall markets, and seema mody is here with more on that. >> hi, brian. stocks are higher and combination of the earnings and vaccine optimism, and interesting note though from morgan stanley's mike wilson who cautions that the wild price swings that we have seen over the past month are likely to continue based on where we are at with the u.s. economic cycle. the best performers on the cycle, and led by disney who does not report until thursday, but the stock is higher by almost 5%, and powering the s&p 500 are the home builders and interesting survey from fannie mae this morning that the percentage of the survey respondents who say it is a good time to sell their home grew from 50 to 57% which they say could accelerate the housing
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boom that we saw play out in 2020. the home builders and d.l. horton and le nar are up 2% to 3%. and you see the big move in bit toi bitcoin including the tesla invest of $1 billion and pointing out even this year, bitcoin has gained 50% as we track it here at 43,160. brian. >> yeah, the bitcoin boom and ethereum are all on the move. thank you, seema mody. that is a perfect transition to the next story and segment, and more on how this all unfolded in the big push to the bitcoin boom that we are seeing right now. right now, let's bring in phil lebeau to talk about elon musk and crypto. phil >> earlier this morning, tesla dropped the 10k and in that it was confirmation of something that has been rumored over the last few weeks on wall street.
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tesla has bought $1.5 billion of bitcoin on the cash and securities it had on hand which is by the way $19.4 billion at the end of 2020, and why are people fixated on whether or not we might see a bitcoin move by tesla. remember, it was on december 20th that elon musk tweeted that bitcoin is my safe word. so this is all going to bring up the question, how much interest has elon musk had in bitcoin, and look on the twitter feed, he had bitcoin symbol on his twitter profile. so, that is a while ago and within the last few week, and not up there for a real long time, but long enough for people to take note of it, and also looking at tesla and what they said this morning, the company says they plan to accept bitcoin as form of payment, and i'm not sure how many people are planning to spend bitcoin in a model s or x, but they are going to be way out in front of the rest of the auto industry to say
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we will accept bitcoin as a form of payment, and looking at tesla in a one term, and tesla said that they may hold other digital currencies as well as gold. they have $19.4 billion in cash and securities on hand at least that is what they had at the end of 2020. brian, back to you. >> all right. phil, we are not done. light coin lebeau, and we are not done yet. here is the thing, they have to buy all of the bitcoin, because they have to create their own mini bank. and so you have to have it, because if somebody out there, the viewers, they want to buy a car with bitcoin, they have to transact and make sure they can -- >> i understand that. >> and they have to have a cash register full to give them change, and that is the basic premise? >> yes, you want to b ande, and were talking to wilf this morning that if you were selling cars in a particular country, you want to have a market in that particular currency. so if you were selling a car in bitcoin, you want to have the bitcoin reserves on hand in
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orderer to make the transaction take place, and we're not sure how many people may buy a tesla using bitcoin, but look, at the end of the day, if you a tesla fan or the elon musk fan or the digital currency fan, and you look at this, and you say, that is forward thinking, and you are applauding this move by tesla even though it may not have much of the impact in terms of the sales. >> well, i guess that i can site, phil, but the only thing that i would say, and bitcoin and i don't call it a currency, but everybody else does, because currencies don't move like this, or that fixed of a supply that bitcoin has or will have, and i guess that you pay -- say the new model s is $75,000, and you are a bitcoin bull, why would you pay with it for bitcoin, if you think that the price is going up, because you now thrown away money, if you have made so much money in the bitcoin, you don't care. >> flipside is that you are
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looking to buy a model s, and you are in the market thinking i am going to pull the trigger next week, and this is when it is going to be between now and next week, the bitcoin holdings falling 8% or 10%, and not saying that is going to happen to the people, but it is the volatility there that i think that makes a lot of people in the auto industry look at this idea of people paying for vehicles with bitcoin and saying, ew, do i want to deal with that volatilvolatility obviously elon musk and others are comfortable. >> well, one side or another is going to lose volatility one side or another, and maybe lordstown or others will. thank you, phil lebeau. and so if elon musk is doing the same thing on social media with say stock tickers instead of crypto, would the s.e.c. get involved and why do the rules seem so much different with the
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crypto world than the stock market world. we will talk about that and elon tusk's move, and bring in harvey pitt and former s.e.c. chairman and also lisa bergonska and former s.e.c. branch chief. and harvey, good to chat with you, and from your perch, to you see anything that might catch the s.e.c.'s eye from what mr. musk has been doing on twitter >> i don't see anything specifically with respect to what mr. musk has been doing at this moment. but i think that once the new s.e.c. chairman gary gensler takes over, there is going to be a review of all of the crypto currencies, and in an attempt to figure out where the regulatory powers should lie. the s.e.c. has previously put out statements that say that bitcoin for example is not a security. as a result, the only way that
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the s.e.c. would be concerned is because tesla is a public company, and because it has promised to keep a close eye on mr. musk's tweets and determine whether anything in those tweets is not correct or is false or misleading and it does not appear to be at first glance, but there is more no story as it unfolds. >> yes, and harvey, one more to you, is there anything wrong, that if obviously, that i have b -- if they have been buying the bitcoin, and elon musk tweets out more about the bitcoin and the purchase price is moving, he has changed an avatar and the prices are moving 10%, and anything wrong with that or smart marketing with musk, and he has lot of followers and he is smart, and he can do whatever he wants. >> he does have a lot of followers, and from what we know it is smart marketing. it could be more, but basically
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the fact that there is so many people who want to follow him makes him a likely source of making comments and having people follow him. nothing wrong with that, and he has earned that status based upon the performance of tesla. >> and spacex and others. lisa, do you see anything wrong with what mr. musk has been doing with not just bitcoin, but doge coin and other things, and i picture him outside of the house, and saying watch this, and then watching things happen. >> that is a great question, brian. that is exactly what regulators are going to be concerned about. certainly raising doge coin was a joke, and it was put out there for people like me, and i have always wanted to own ponzi coin,
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but maybe i will buy the doge coin, and it is like a pet rock. it is not real value there, and he is diving into it, and maybe it is tongue and cheek, but people are following him. they are purchasing it, and the joke is now, you know, developing into something that people are going to lose a lot of money on. i would follow up on what -- >> well, lisa, we can't to be fair, and doge coin named after that dog, and it is transferred into a payment system, but they are lines of computer code is ultimately what they are, so we ultimately don't know how they are going to play out. >> we don't, but it seems less likely that everyone will agree that doge coin is a form of currency as opposed to bitcoin.
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bitcoin has much more acceptance in the world, and you know, you need to have willing buyer/seller who are willing to use this currency for the transactions. i would not -- >> you would -- >> i would not be willing to accept dogecoin. >> and others may b ande, and i feels like, harvey pitt, and trains in the 1940s, and you have train company, and you get down to two or three winners and some go away, and you know mr. ginsler personally, and he has made bitcoin comments in the past, and he seems crypto-friendly, and what you do is the hallmark of regulation with the ginsler s.e.c.
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>> i think that the comments that he has made in the past are not necessarily indicative of what he is going to do as chairman. as chairman, he has to consider the responsibilities of the agency, and he'll be speaking in an official capacity. i also think that there are his fellow commissioners that he will want to talk to andhe feell of this, and as lisa said, there are people who could get hurt on this, and if there is a system of crypto currency, and what that could be, and i could say that you could flip a coin as to who will recommend it, and pun intended, but in the end, there'll have to be a governmental response to this. the treasury has issues, and the fed has issues and so on, and i
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think that this is a more global governmental issue than just one person in one agency. >> certainly, because lisa, that is the idea, it is decentralized and anywhere in the world, and i think that nigeria banned the banks from doing business in any of the cryptos, and in your mind, is crypto in your mind a quote security >> no. the determination of whether something is a security is really up to the regulators and ultimately the courts. so we have court decisions, and you know, the great thing here is the s.e.c. came out to say i was a security, and actual lit was ethereum, and started out as a security and now it is not it is a security. so they don't have to worry about the securities regulation, and bitcoin, no question, it is a commodity, and its trading is
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regulated by the commodity futures trading commission. not by the fcc, and so that is clear. >> so, yeah, harvey and lisa, we will leave it there, and as the story of the silk road taught us, if you were to make some of the profits in a rather call it unique and outside of the law way, you can now transact. great discussion there. thank you. and so, now that tesla has made the move or announced the move to be made, who could be next to venture into the bitcoin space? well, rbc capital says that it should be apple. the firm says that if the company were to enter into the crypto exchange business they could immediately gain market share and disrupt the industry more, and they say this is a potential revenue opportunity of more than 40 billion a year, and find out more about the idea behind the call at
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all right. coming up, the stocks are running higher, and rates are on the rise, and down 60% from the holiday peak, and is this the recipe to be priced to perfection, and it is not just stocks we will tell you about a rather surprising corner of the market which is getting a lot of love lately. and everybody apparently loves oil again. that is right. crude oil on the rise, and the reopen trade heats up. the exchange is back. this is "the exchange" on cnbc.
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welcome back. well, the biggest reason to be bullish on stocks is maybe because of the big bull run in st stocks. it sounds confusing, i know, but listen to this, dare i say random but interesting stat. the s&p 500 rose 400% last week, and this is only the 17th time in a decade that we have seen that kind of move in a week. and an incident that the other 16 times that occurred the markets were higher 10 of the following 16 weeks, and that is not all. over in bond land, a 10-year yield has been rising eight days in a row, and it does not sound like much, but believe it or
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not, that has only happened six times since 1985. but what do all of the neat stats, do they mean anything let's bring in bryce doty and micha michael yoshikami. and so first to you, bryce, the yield curve is on the move, and what does that mean to you and what is that signaling if anything >> the yield is up 25 basis points and almost 2%, and you mentioned the 10-year, and we believe that it is an indication that people are worried about inflation. inflation expectations are up to 2.25%. and the three-year should move up a quarter of a percent, anden still, we think it is going up another half a percent there, and still i don't find buying it attractive there. i am waiting for 3% on the 30-year before thinking about
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investing in that area. the only treasury bonds that we like right now are tips, you know, that are going to go up with the -- >> treasury inflation protected securities, right? >> that is rite. that is the name of the the game. so we have the government doing fiscal deficit spending, and the fed is buying 120 billion of bonds every month. and we have all of the pent-up demand from the huge savings that people are going to spend like crazy as soon as they get vaccinated. so it is going to be a wild year, and probably good for stocks and corporate bonds. but it does not speak well for treasuries, because the inflation is going to eat that yield up so fast. >> and bryce, one of my prediction, and not that anybody cares what i have to think, but the best economy that the world has ever seen in the back half of this year and into 2022, and i want to read the viewers some stats into the year, and i want you to comment on them, because
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so far in 2021, and forgive me for looking away, and e theme yum has doubled and the 10-year yield is up 6%, and nasdaq up 9%, and the small caps up 5%, and the lumber hogs and every commodity and everything is up and up big in five weeks. that is just this year. what's your take on the whole thing? everything >> that covid is going to eventually get under control it is going to be slow going, because that the sentiment, sentiment overall is going to be positive. i think that for inflation, i think it is going to be muted even though they are going to pile tons the of money back into the economy, but you are going to be seeing a reopen trade that is really what it comes down to, and you are going to be seeing people who are starved travel, starved to go out to restaurants, and they are going to juice the economy, and that is why, i can't speak to bitcoin why that is up, but it is why the fundamentals in terms of the stocks, and they are going up.
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>> nearly 4 million vaccinations are done this week by the way, and hospitalizations are down 33% in a month, and new cases are down 61%, and some very positive numbers there. and you know, michael, i will go back to you on that, and do you worry that it is going to be way overheated and to the point that we may have 1.5, and 1.9 stimulus coming down the pipe i will say, because that is what it is going to be, and the markets are just going to explode and not in a good way, i mean, inflationary perspective >> well, i'm not a big believer that there is going to be rampant inflation, and some uptick as represented or reflected in the treasuries, but i think that there going to be an overhang on the economy, because we have different variations of the covid floating around and you are going to be seeing a change in behavior even though pent-up demand, there is a change in behavior, and it is a good question to be asking, brian, because the 1.6 or the
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1.9 or whatever it is now to me is not the end of it. you are going to be seeing another trillion dollars in infrastructure that is bipartisan agreement, and so when it is all said and done this year, and not including what the fed is doing, and you will see close to $3 trillion of insertion into the economy and a good question to ask about inflation, but there is going to be other factors keeping the inflation fairly muted >> yeah, and luckily most of the vaccines moderna and pfizer and the others are appearing to work well on the variants. and so, bryce, will we tiptoe the market this year >> yes, but they will keep you from losing so much in the regular treasury bonds. so i agree that the inflation is a pig in the python type thing, and so there is going to be a wild party for 2021, but the hangover in '22 is going to be tough. a lot of the stimulus spending comes to the end, and what do you do then?
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>> well, once we all get back out, it may be an actual hangover in 2022. bryce and michael, guys, thank you. good discussion there, and get to know the t.i.p.s. treasury inflation protected securities. now, could amazon in alabama change the game for all amazon workers? that story ahead. and now, $3,000 a year for every kid that you have forever. a game changer in stimulus plans and some surprising backers. if you not already, download the cnbc app today. we are back after this.
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indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at all right. welcome back to "the exchange. and hope you are having a great monday wherever you may be. the market is not quite on the highs, but they are down about 1.04. and the sector check you have energy, and materials and financials and those are some of the leaders and you have utilities and real estate, and some of the laggards, but some of the laggards are doing pretty well. these are some of the individual stock movers that we want you to pay attention to. stock number one, palantir and their stock is sup 400% since they began trading since
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september. stock number two, is hasbro despite a beat on the bottom line. the sales of board games, and that is one of the bright spots, but the analysts are disappointed with the overall 2021 sales forecast. and stock three is twitter hitting a seven-year high today, and bloomberg report that it is working on the subscription options for tweet deck which is going to help the company to diverse away from the reliance on the ads. and it is on with the earnings after the bell tomorrow night. well, don't look now, but suddenly everybody loves oil again. crude has been cruising higher, and brent is up over $70 a barrel, and oil is up 55% in just 90 days. why the sudden bullishness well, a few reasons. number one, and obviously, the saudi surprise is that prince abdulaziz is shocking everybody is taking an extra million
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barrels off of the market which kicks in this month. and also, optimism of the u.s. economy reopening, and maybe reopening faster, and more than a trillion and maybe closer to $2 trillion in stimulus on the way, and oh, yes, a weaker u.s. dollar, and perhaps the perfect positive storm for oil lately. but, there is something big to watch on wednesday. a federal court in d.c. has a hearing on energy transfer partners dakota access pipeline known as the dapple. the markets didn't need or in some cases really want the keystone xl, but the dapple, as it is known, is a much more important piece of pipe. so that is wednesday. and something to watch. all right. now to morgan brennan, and we will get a cnbc update, and happy monday, morgan. >> happy monday to you, brian. and now, the congressional office says that president biden's minimum wage would lift
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900 million americans out of poverty, but the nonpart san agency says it would reduce employment by 1.4 million jobs an increase the deficit by $10.4 billion over ten years. sweden and germany are going to expel russian diplomats after supporting russian opposition leader alexei navalny. benjamin netanyahu has pleaded not guilty as the trial of corruption charges resumes. protesters called for him to step down, but netanyahu calls the charges against him a political witch hunt. that is the news for this hour, and brian, i send it back over to you. >> thank you, morgan. and now, the daily dig of the vaccine world, and there is a lot of noise out there, and let's just focus on the fact, shall we after a record weekend, and a
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2-plus million vaccination day saturday, more than 31 million americans have received at least one shot with 9.1 million getting both shots. now, the full vaccinations of the states averaging overall about 1.5, 1.45 million shots per day, and some days better than others, and overall, 12% of american adults have now gotten at least one shot. the u.s. near the top of the world among the large nations with the vaccine rollout with only the u.k. vaccinating more as a percentage of the population, and europe and canada are lagging far, far behind. by the way, johnson and johnson is scheduled toundergo fda review february 26th for the one-shot vaccine candidate, and if approved j&j going to keep you posted on the daily news and
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linkedin. so now we go to julia boorstin with a market flash and disney. julia? >> disney shares are up almost 5% today, and the shares are bolstered by a bipartisan bill friday in california to lower the bar for large theme parks including disney world to open. now the theme parks cannot open in california until the state has minimal spread and that means less than one daily case per 100,000 people, and the bill would enable the parks to open with 25% capacity when the spread is moderate and that means fewer than four cases per that 100,000. and the theme parks are higher on the news including six flag, and sea world and cedar fair. and there is another factor bolstering the stock, and key bank is bullish on the subscriber growth, and we will learn more about the parks and disney's streaming business when the media giant reports after
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the bell thursday with its earnings. >> julia boorstin, thank you very much. ahead, one surprising corner of the market that is getting a lot of love lately. and we'll call this boring is the new awesome. this is not boring. airline stocks are soaring today with nearly 4 million vaccinations done this weekend alone, a lot of optimism about the reopen, and getting back to the skies as well. delta, jetblue, alaska and spirit and others up 4, 5, or more percent. the dow is sup 127,--a is up 12n we are back in two minutes.
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all right. welcome back to "the exchange. the old commercial tag line was "there's something about a train that is magic. well since the pandemic, amtrak has been crushed. and president biden a deveaotee and seema mody with more of what he said. >> well, amtrak joe once
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commuted 110 miles each way as a senator from delaware to washington, d.c., and now amtrak is now hoping that biden's own experience with the trainer is vis will help it get the funding it needs to avoid job cutts. it is burning $215 million a month and not anticipating a recovery until 2024. the president says he is in dialogue with white house and congress for additional funding and to repair america's aging infrastructure, and gardener says that repairing tunnels and bridges is not only critical to high speed service, but to attracting younger travelers. >> some the equipment is as old as i am or older, and it is time for it to be retired and replaced with a modern generation of the passenger equipment that really can attract a new generation of rail travelers. >> and recently confirmed transportation secretary pete
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buttigieg says that bringing fast trains to the u.s. is a priority of his. >> we have been asked to settled for less in the country, and i don't know why people in other countries have better train service and investment in higher speed service. >> there are several high speed rail service, and some funded privately and others in florida and texas and las vegas, but they are all facing a budget shortfalls and regulatory hurdles, and while high speed travel is everyday in other parts of the world, we are not here in u.s. >> and come on, there are kids on bikes passing us from boston to new york. >> yes, in japan and other parts of the world. from boston to madrid, the average speed is 217 miles per hour, and then looking at new york to d.c., 150 miles per
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hour, and that is only for certain sections, and that is due to the trains not able to operate at the maximum speed, because of the aging in infras infrastructure, and they are hoping that this administration and pete buttigieg will spearhead the talks around infrastructure and get the high speed trains to service, and get to places faster. >> well, i know that i have done the madrid to rio train. and we will get there. all right. sticking with trains or transportation in a way, our next guest says that even though transportation bonds took a hit early on in the pandemic, they are actually now in some cases trading above the pre-covid levels it is the same with a lot of debt in a bizarre and often overlooked world of municipal bonds which according to the next guest is on fire. and now next joining us is jason
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wjaso ware who is trading transportation bonds, and the mta is one of the largest municipal debt, and ridership from new york to new jersey is decimated. how are some of the bonds actually getting so much attention? >> well, i think that you've had quite a bit of support coming from the federal government and, you know, state and local government. that is really giving these entities the ability to kind of weather the storm through that dip in ridership. i think that what you are having, you know, happen now with the investors is that a lot of them are looking forward to what you are talking about with the vaccination rollouts, and hopefully the economy moving back to a little bit closer to where it was prior to the pandemic, and, you know, getting people comfortable riding mass transportation again. >> well, jason, we have a chart up of the pimco intermediate
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muni out there, and just one ticker, and it is above when the pandemic began, and i can understand it getting close to where it was in january of the blissful ignorance, but how can it be above that in january of 2020 >> well, there is obviously more money in the economy now than there was, and what you are also seeing kind of translate in the tax exempt space is the anticipation for higher taxes going forward, because obviously with the stimulus rollout, and lot of money being flooded into the economy to create this liquidity, people are anticipating and needs to be paid for, and that is oftentimes going to be translated to higher taxes. >> yes, and quickly before we go, jason, leave us with an investable opportunity that you think out there that has good value for the viewers and listeners. >> yes, what i would say is the tax-exempt product in general. you know, i think that there are certain pockets of the market to get ample yield, and again going
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forward, i think that you are going to be looking at the higher taxes, and i think it is a good opportunity for people to lock in the yields that, you know, to avoid taxation. >> jason ware. appreciate the view, and often overlooked part of the market which is not overlooked at all, because it is getting a lot of love from smart people. >> everybody loves munis. >> yes, and everybody loves munis and a train. the biden family wants to send families $3,000 per kid per year as part of the covid package and a look at how that might work and who might qualify and remember this month is black history month. so we are honoring some of our friends, and cnbc contributors. here is robert johnson on his defining career moment. >> black entertainment television in 1991 became the first african-american company
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publicly traded on the new york stock exchange. my team and i rang the bell signifying that we were a publicly traded company participating in the u.s. economy. the fact that we were first, the fact that we symbolized what black americans can do if given the opportunity was one of the proudest days of my life in business. >> well, very cool story there from one of the most successful en at. epreneurs in the united stes to read more go to in you. we will be back in two minutes. ♪♪
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this neighborhood and we wanted to continue that. to have a place where you have dignity and belong, that's the legacy of the four way. ♪ all right. welcome back to "the exchange. the democrats' stimulus plan has a big benefit for the kids and maybe on the other side as well.
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so with more on how much, and how it would work and who is eligible, we have ylan mui. >> well, the details it would give families $3,000 a year for the children between the ages 6 through 17. and children under 6 would be $3,600. and so this would help for couples making under $150,000. and the size of the benefits would shrink for those families making more than that, the but these benefits would be monthly instead of attend of the year, and the democrats say it is important to ensuring that the families struggling to make ends meet at the end of each month have the help they need. one republican is on board with the concept, and that is republican senator mitt romney.
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he has proposed a similar idea $3,000 per year for school-aged children, but up to $4,200 for kids under 6, but the big difference is that he would offset the program by cutting other benefits. the democrats say their plan would cost $117 billion that would last for just one year, but today, the democrats said that their goal is to make this permanent, and though, brian, it is not appearing yet they have had substantive discussions with the republicans of how to make it work. back to you. >> i find these income caps bizarre, because $75,000 in some parts is a lot of money, but in d.c. or new jersey is a different story. so the cbo has issued a report of raising the impact of $15 an hour minimum wage, and what have you seen >> bad news for democrats. the cbo is a nonpartisan
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organization, and found that once the minimum wage hits $15 an hour, 1.4 million more people would be unemployed. the cbo analysis found that this program would raise the deficit by $54 billion over the course of a decade, because the government would be spending more in social safety net programs. on the flipside, the cbo did say that the number of people lifted out of poverty would be 900,000, and that on net, wages would increase by $333 billion and brian, that of course means that the labor cost for businesses would go up. back to you. >> ylan mui, thank you very much. coming up, amazon's union battle is heating up as the alabama union workers are starting to cast their votes down there in bessimer, alabama, and the impact if it goes through.
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well, there's been an historic vote in alabama workers at an amazon warehouse there are trying to form a union, it would be amazon's first. if it succeeds, could it spread
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to other facilities or eyeg, ley
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it passes. they gets this win in bessemer, alabama. what's next? >> first, the workers would have to negotiate a contract with amazon that would give them the right to negotiate a contract. they would still have to do that the bigger question is how much do we see this spread? for there, we could to pay attention for what's going on in alabama for sure, but also what's going on with google. with amazon, you may see that spread certainly that's amazon's concern. don't forget they have a lot of warehouse workers, they own whole foods. they have a lot of workers, that if they unionize in the traditional way, it would be a more powerful labor vote when we talk about silicon valley, it's a very different kind of union, what's known as a minority union
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they're accepting temporary workers, contractors, y differe. what they want is more of a voice. but also in things like whatthe military does it do facial recognition? >> deirdre, what's amazon's take are they saying anything publicly i'm sure they care, about you what do we know about their position >> they care deeply. they are fighting it fiercely. we got ahold of one of the text messages that the amazon side is sending to warehouse workers and says, did you know during negotiation, no one can guarantee of outcome everything is on the table you may end with more, the same or less. so these are the types of efforts they're throwing at this
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as ina pointses on, this is an important movement within tech companies. for so long they have grown unfettered that includes from white-collar workers to blue-collar workers brian, it's also worth noting this could be a major challenge for andy jassy, the incoming ceo, in his first year taking over for jeff bezos. >> you read my mind for some reason ed c-suite with bezos stepping in, a lot of things are happening at amazon. >> for sure. amazon is really one of those companies, and don't forget they manage a chain of cashier-less
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stores >> we're watching that vote. deirdre bosa, ina fried, thank you very much. that does it for us here on "the exchange. markets are up, bitcoin is up $4500 right now. coming up on "power lunch," a man who helped encourage mr. musk to buy bitcoin, very outspoken advocate for crypto. we'll see you tomorrow take care. change is all around us. shaped by technology and human ingenuity, we can make it work for you and your business. ♪♪
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hello, everybody welcome to "power lunch. morgan brennan will join us in a moment the s&p 500 now up 4% in the past week, as congress works to pass that $1.9 trillion stimulus package. plus elon musk goes full crypto, the company revealing it has bought $1.5 billion bitcoin. we'll talk t


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