if morgan stanley is right, new report "case for crypto in a diversified portfolio" pretty big news out of morgan stanley they suggest investors get educated as we pay more attention to bitcoin yields, 10 year, 1.67 with the fed decision a couple of hours away let's get to that. it is a big story. welcome to the "halftime report". this hour the surge in yields and your money and what the rise in rates mean for stocks the nasdaq gets hit again this hour we will discuss with it our investment committee let's go to the wall i'll show you exactly what's going on now yields at the high of the day for the ten year, 1.68 nasdaq leading back to the loss of the day down 173 points. was down about 198 or so

a about it to go to get to that point. jim, this is the way i suppose it will be as long as yields remain the headline story in market >> so, yeah, exactly but we've been talking about this yield story now for several weeks. at some point it wears off i see the ten year at 1.67 i hear people say it's going to 2% it's not that far way from 2%. stories lose their punch over the time this one is likely to lose its punch and when you get that point what you say is you look at large cap tech, they growth at reasonable price stocks like apple and google and facebook and you say they are very reasonably priced right now. i can buy them on the other hand, those high flying growth stocks, the softwares, the work from home stocks, i think they do still have more room to fall just still too over valued >> you look at the art funds, you know exactly where to look, right? it's cause and effect.

you see what's happening with rates. you look at the nasdaq first then you look at within the nasdaq, see a lot of art fund stocks, kathy wood stocks are down a bunch you're seeing high growth names down a bunch over the last month in terms of 25 to 30% in some cases even worse than that respectively here's my point, though. okay everybody says, well a lot of people say and we've heard it on this show the past couple of days, rates are going up for the right reason rates are going up because the economy is booming and we're going to go nuts the rest of the we're. i say what does it matter if it goes up for the right reason or not. the mere fact it's going up is an issue the market has to readjust to. >> i think you're saying it the right way. it's a readjustment. this is where these stocks were last year. where they were coming in to this year. if you think about what the potential earning streams are

over the next several years are, less clear cut there are better catalyst, stronger catalyst or easier to identify catalyst for some of these cyclical names over the course of next three or four quarters a significant infrastructure package. gdp growth that could be 6%. how does gdp growth at 6% necessarily translate into robustly stronger earnings for docusign that's the difficult math that has to be done by investors today. that's why you'll continue, to jim's point he made a great one. i agree. the there needs a continued re-rating on some of these high growth stocks. expectations have pulled forward significantly as jenny has said several times on this show in 2020 now we look at what are the earnings going to be six, seven, eight quarter from now what's the rate we're discounting those earnings at. if i look at this basket of stocks you pointed to, could they continue to be lifted by economic growth improvement?

absolutely does there need be a bit of caution in these higher valued stocks in your portfolio definitely i think that's what you're seeing now to jim's point again we look in the middle of this and some of these growth names that can continue to be lifted by economic growth. you look at the valuations on those they are not significantly overvalued and i just continue to think about the potential opportunities here to buy some of these stocks that maybe you missed over the last few years and you want in core of your portfolio over the next two or three years. it's coming. it's here. make sure you take advantage of it >> i have a lot of people coming on this program these days saying that 21% decline in shopify looks awesome to me. teledoc 30% decline i'm going snap one up along with peloton and paypal and square. at what point do these stocks get ridiculously attractive

because they sold off so much and we do think at some point the market is going get okay with the fact that rates are readjusting? >> yeah. i've heard for the last 30 years how investors always want to buy the dips and traders want to buy the dips and then the dips come and they don't want to buy the dip. our you're mentioning names that are identified as momentum longer duration assets at it relates to equities are referred to as momentum names treasury yields are back to pre-pandemic levels currently. coming in to 2020 the pricing for a 10 year treasury is 1.92 where momentum resides right now, scott, is actually in treesy yields. i expect we approach the 1.92 level. markets positionally are growing a little bit more comfortable with this move in yields, but i still see vulnerability for these long duration momentum

names. there are more tremors to come after the big earthquake that was experienced in late february and i think that's what the expectation on the part of investors should be. >> part of the problem, those you say the market is growing more comfortable with where rates are or investors are at the same time the market seems to be growing increasingly uncomfortable with the fed that all of a sudden, you know, the market started to doubt the fed. powell, he didn't deliver what we wanted him to deliver a week ago. and rates shot up and the markets shot down as we were having this conversation on the air. right? powell will give a press conference today now i wonder where market expectations, joe, have gone to where, you know, they feel powell needs to intervene on fact that rates are starting to rise >> perfectly stated. markets expect chairman powell to address the taper timeline,

to push against inflation. there should be concern he doesn't. i'm wondering how much of the eagerness in terms of raising taxes on corporations and individuals is playing in back of the mind of chairman powell because in some capacity that's fiscal tightening, scott if the chairman does not lay out a taper timeline, doesn't push back against inflation then we have an environment you're describing and volatility -- >> wait, wait, wait. you think that that's where the pressure line is for today he needs to come out today and do that? he's not going to give you a tlienl wit timeline this is a date we'll do it rick reader on "squawk box" said they are will start tapering the front end. okay they are going to continue to buy the long end but start tapering the front end of the curve. i emailed rick when do you think they will start doing that he said maybe between september

and the end of the year and he thinks there's a reasonable chance you get to 2% on the 10 year this year he said that on "squawk box" this morning, joe. >> i agree with everything he just said. and how do you then begin the process of tapering? you communicate today by not saying something that that's actually going to be coming. you prepare over the next couple of meetings in the message and statement from the federal reserve that the taper, okay, is actually going to be coming towards the end of the year. ueno longer suggest that they are thinking about further purchases. you take that language back and that communicates to the market that the taper timeline is going to be initiated at a next meeting. >> when you communicate it or not, i can communicate i'm grounding my child

doesn't mean okay that's cool thanks for telling me. they throw a tantrum, maybe. pete najarian? i'm looking at your moves today and i don't see you buying calls in any tech stocks, basically at all. i'm wondering where you the think this market is going from here, pete >> well, i don't think it's not from here, i think it's the same market we were looking at back in november when we were looking at a market where you get a tidal wave turn. i hear about all these different stocks that have no pe or very slim pes and now is the time i don't agree with that. here's why as we come off of this and we are coming out of this, as the stimulus is pushed up there, the economy is starting to pick back up, scott, i think it still favors a lot of names that have been reacting since late october, early november and i'm

talking about energy -- we talk about valuation all the time there are sectors and individual names that still have room to run. and when i look at where they are trading presently, as far as valuation, and the growth that we've already seen from some of these, i'm worried about a lot of different names whether ft. myers or industrials that have doubled. so that's pretty much performance. yes when you look at these names there's still plenty of runway in front of them so i look at all those names where they don't have a pe because they don't earn anything, don't know when they will be earning. i think i rather be in some of the other names where we know what their earnings are. we think they will continue to grow to the upside we continue to see how things are moving in a more positive way. my biggest concern is what's been going on when you look at the commodity prices and that consistent move we've seen from copper and from steel and from a

lot of the different areas of the marketplace. oil, obviously this has been an unbelievable run in a short period of time to the particular entities, and i think it's okay if we see a pause there but that actually creates opportunity as well. >> the most interesting move of the day from the committee comes by way of shannon who tells us that she trend disney by 20%, which is interesting because the ceo just came on the network and said by the way disney and all theme parkes are opening on april 30th the stock which was negative turned positive. at 195 seven or eight bucks from getting back to its 52 week high why the disney trimming? >> just looking at it in terms of portfolio construction and risk and reward. if we look what's happening from a disney perspective we're going get increased park revenue

we're going see people coming back to the parkes we're looking at a re-emphasis on direct to consumer in the streaming business and just feel there could be some short term consolidation as people take sigh of relief you get park revenue back. people have been very focused and actually perhaps over focused on the shift to streaming as we move into a period where i think there are going to become questions across streaming companies over the level of digital engagement over the summer to fall it won't produce a significant number of increase in subscriber turn for disney plus or netflix but it will weigh on the sentiment because i think now you're asking investors who perhaps moved out of disney because they wanted to he see that park free cash flow and perhaps a dividend you're asking them to come back into the stock whereas you have a new flock of investors that have added to disney for the streaming service who might be concerned about subscriber rate

slowing. so i just think we're entering this period of consolidation the stock has done very well still a large position in our portfolio but we think it makes sense to trim a little off the top. and continue to look for opportunities in other places. >> it's been a home run. no doubt about that. yes streaming is the large driver now parkes are back. entertainment will come back production and things like that. which could lead to upside, i think, a lot of analysts think that could lead to upside in shares >> absolutely. which is why we're not eliminating position and i think there are going to be some other streaming services that are going to be, perhaps, more vulnerable over the course of the next few months because that is their sort of focus okay you think about discovery plus launch, netflix. parkes revenue will play into this re-opening. i much rather hold a disney rather than go out and buy an airline from an leisure

re-opening standpoint. but i do think that there could be some consolidation in stock and frankly an opportunity for us to increase the size of our position to a more meaningful overweight at the time we still like the company. we think they will don't execute. at this point there are some other opportunities in this market that we don't want to go overlook >> tell me why you bought american tower you talked about taking some profits and deploying that capital elsewhere. why american tower >> so when we think about potential infrastructure build, we think about the changing dynamic of the u.s. community, one of the things -- we talk a little bit about these work from home stocks and a lot of helps high flying growth stocks. i think things like tower to be able to expand our infrastructure in a different way, speak more to the long term changes that we anticipate in american society and so if you think about the 5g trade which we were in through

verizon, which we sold to help fund this purchase we think that 5g will continue to expand and instead of going into some of the metals, we're already in aggregate, we do think commodities have run up a bit. a great way to play the infrastructure trade in our view is through american tower because we do think this is a longer term trend over the next several years. has a very high entry in this space and they don't execute as 5g becomes more globally utilized, particularly here in the united states and they stand to benefit significantly from that without as much of the cap x spend on spectrum that verizon has been doing and is going to be forced to continue to do to fund that 5g growth. >> you know, pete, i misstated one of your call buys. you have a fairly sizable list today and this name sort of got jumbled within it. square you did buy calls in square.

so, as we've seen in the past you're willing to make an exception from time to time when you talk about high valuation, high growth technology stocks. >> i'm talking about stocks that you are willing to trade trading a stock is completely different than buying stocks when i'm trading that's a completely different set of circumstances because you can use that very short term and use those options to your advantage hopefully when we see that option activity. i'll trade peloton, a number of these, crowdstrike and all the rest those are trades they are not going out into the future very far. i'm not going out three, six months and those kinds of things i'm absolutely trading what is week long, two week long option. but when we're talking about stocks unemployment to buy, like i made a decision to get out of a bank stock they still trade at an

incredible valuation looks great. but i thought it was time because the stock doubled since november when i first bought into it. i'm looking at this name 2008 highs i'll take this off a great run. i don't want to be caught. so i think that those are the kinds of names i will buy and hold for a while the others, i'm trading those. i'm not putting those in and say i'm looking forward to the next six months here. >> what i also see interestinginteresting, t shannon, this american tower and you cite 5g. you told verizon and say when it comes to 5g that it's priced in there. i'm confused help me out. >> a lot of what the benefit of 5g to verizon i think is already in stock, so we look at it in terms of what did they need to do there's been a lot of

excitement steve talked a lot about 5g and how critical it is over the course of the next couple of years. verizon investors have been investing as that being the plus for verizon. in order to fund that the cap x will continue. it rather than just put our 5g chips in one basket, a basket that we think has already seen a lot of investors go into verizon based on that 5g trade but will continue to be supported through cap x over the course of the next several years, american tower has what we the think is a broader positive impact not just from 5g but potentially from this infrastructure package which i think is going to come, whether mcconnell wants to see it or not, the tax hikes we'll see but i do think that is a -- we're not necessarily saying that we don't think 5g is a trend you want to be investing in we're just pivoting to get exposure to it in a slightly

gaming way >> let's go through some of the more interesting calls on the street today if we could nike today, joe, which you own, price target raised to 173 from 170. not a huge bump. they reiterate their overweight call and fear more lockdowns in europe and port issues in america. tell me about nike shares right now. >> joe is frozen you know, i really hate that when that happens. >> i'm with you. i was ready to take that one i've owned nike but many years ago. i will acknowledge the great brand. but i will look at other stocks i own like apple, great brand with 27 times forward multiple starbucks great brand with a higher multiple but one that they are easily going to grow

into i know we'll talk about starbucks later. at the end of the day i just can't justify the 37 times forward multiple on nike especially not when interest rates are rising i can't do it. >> i'm so glad that you mentioned starbucks and yes we have our ceo on our program in just a little while because i was having a hard time understanding how you could justify nike at 37 times forward. you say you can't justify nike at 37 the times forward but you justify starbucks at 26 times forward. you say starbucks can easily grow in the multiple but nike can't? >> yes my goodness what a cynic you are today. i'll play along with it. i want to talk when we get to the starbucks section about this the expenses are very high for starbucks right now. we know this it's because of the covid crisis

and because of the restrictions and guidelines that they had in place particularly here in u.s as those expenses come down and i really want to talk to mr. johnson about that, that should unleash the earnings power i don't see that happening with nike now maybe i'm wrong and i would love to be educated if there are expenses i heard about the port congestion that's not enough. not enough that when that clears up that's going in some way reduce the expenses enough to increase the profitability to justify the 37 times multiple. that's my answer let's get into it in a few minutes. >> we will joe, you want to rebut anything that jim just said since now you're unfrozen. >> absolutely. both starbucks and nike, everybody classifies them as re-opening trades. they are repositions trades. they are companies because of the pandemic the opportunity has been crystallized to reposition their company and pivot. so nike has sold dramatically

pivoted from a wholesale model to direct to consumer. it is -- there absolutely is gross margin expansion and reflected in the coming quarter. why? because they are back to full pricing, stock discounting has gone away. investor surplus has been worked off. you potentially could see nike looking at full year guidance and raising it so both of these stocks i own. i see boston them moving higher. it's predicated on their ability to reposition the model. >> jimmy, you have the last word on nike. >> i'm willing to be wrong on this i'm not sitting here hating on nike at all. it's a choice every day of what stocks you want to buy and sell. i'm not saying it's going down not selling it short i say for great brands at the right price i look at apple and starbucks. i'm happy with two i don't need to add nike to the mix.

i hope joe is right for his sake >> like that debate. all right. you mentioned starbucks that stock surging 85% over the last year we have a first on c members with kevin johnson just ahead of the coanmpy as annual shareholder meeting coming up in two minutes on the "halftime report". ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪

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starbucks share up 85% over the past year and one firm thinks there's more room to run from those recent record highs the price target is being raised to $120. first on cnbc, the company as ceo, kevin johnson who is with indicate rogers ahead of today's annual meeting kate, take it away >> kevin, thanks for joining us. >> so, annual meeting kicking off today. the company is celebrating its 50th anniversary this year, coming off one of the toughest years for star burks and restaurant industry as a whole what's your message to shareholders today about the future of the company and meeting consumers where anthony in this new normal as we move ahead. >> kate, this is a very special moment for starbucks found in 1971. here we are, 50 years later.

and you think about this last year this last year has been one where we worked from home, schooled our children from home. we have gone through a period of isolation. surgeon general even called it a social recession so as we get vaccinations rolled out, we are on the cusp of what we call the great human reconnection so here celebrating starbucks 50th anniversary, starbucks was built for this moment. the opportunity to bring customers back in our stores make them feel part of the community and once again people will be saying let's go have a cup of coffee together so this is a very special moment for starbucks. >> we also have to talk about china, your second home market, really key in moving ahead you'll be opening up a coffee innovation park there in 2022 for sustainable roasting how does sustainability fit in

next 50 years for starbucks as we move ahead? >> we've always been a company that has a purpose that goes beyond profit. as we think about celebrating this 50th anniversary, part of what our role and responsibility is, is to that have wisdom of what to know to honor and preserve from the past while at the same time to have the courage to boldly imagine the future we want to give more than we take from the planet we benchmarked our carbon, water and waste and set goals 2030 goals in each of those coordination this investment in this coffee nation of park is first sustain washable one that we're building it's one thing we're doing help not only reduce our carbon footprint, ultimately get to net zero but ultimately get to where we actually store more carbon

than we emit that's a long term agenda. we're committed to that. >> cold beverages have been selling well all year round. talk to me about that portfolio mix. you have new innovations like cold press espresso. what does that look ahead? >> we have to create a great experience in our stores and introduce new innovate beverages for our customers. we called out this shift from hot to cold. it's a mixed shift if you look at what we've seen recently we now see more than 50% of beverages we sell at starbucks are cold think about cold brew and nitro cold brew and those sets of beverages. we've now introduced these iced shaken espresso beneverages whi

we introduced as well as oat milling. we'll continue to innovate along cold press espresso. in addition to cold brew, fly cold brew we're innovating when it comes to the espresso line as well we're seeing more than ever in our past >> kevin it's scott wapner i have a couple of things for you. i would like to talk to you about how you got through the pandemic and what you think comes next what i would like to you do is listen to a sound bite from one of my investment committee members, a devoted shareholder of yours who talked about that and we can react to it on the other side here's josh brown from a conversation we had yesterday. >> what starbucks did in response to the pandemic was not close a whole bunch of stores and hope for the best. they literally retooled their entire business around this idea

that we would come out of the pandemic, but some aspects of consumer behavior would never be the same again starbucks had the financial wherewithal to do what they've done and now that's going to start paying dividends >> josh went on the say it's more about walk up windows and drive-throughs i'm wondering can you react to what he said about how you're thinking about that in future? >> yeah. certainly, scott this last year was an unprecedented year and as we went into this pandemic we set three simple principles for us to live by and make decisions. first was focus and prioritize the safety and well being of our partners and customers we serve. second was to partner with health officials as they worked to mitigate and contain the virus. number three was to show up in a positive and responsible way in every community we support now we fundamentally transform how we created and delivered those safe familiar and convenient experiences that

customers were seeking throughout this pandemic that has served us well. you know, you see quarter by quarter we've seen sequential improvement in this recovery although it's not linear week to week or month to month it has shown recovery. china has recovered. u.s. is on a great path forward. we have transformed the company from what we think are the consumer behaviors that will stay going forward so there's kind of five consumer behaviors that we have oriented ourselves and optimized the expense for. first is connection. even as we come out of this pandemic, we are all going to create social connection, interacting with one another that will still be true in our stores the second, those is one we think has been amplified and that's to meet the customer where they are, to provide them an experience that's effortlessly fits their lifestyle. so that's mobile ordering.

curb side. drive through. that's delivery. and so we compliment that third place experience with these other channels certainly customers are going to look for the consistency, the things that were familiar before the pandemic that is an important attribute certainly customers care more and more about high quality ingredients and especially plant based proteins so you see we're transforming our beverage platform. we introduced oat milk along with soy milk, almond and could nut. more and more consumers are looking to do business with a company that demonstrate values, has a purpose that goes beyond the pursuit of profit. whether that is equity and inclusion or environmental sustainability so we really adapted the company to not only the pandemic, but what we think will happen post-pandemic and will forever change consumer behavior in our opinion. >> your stores can obviously from time to time be crowd, you

know it's a personal relationship and sort of personal touch type of business right? we're used to seeing the smiling faces of our barista every day no matter which coffee shop we go to. are you going to require your employees to get the vaccine >> you know we're not going to require them but strongly encouraging our partners to get vaccinated and that's been trend that we're seeing within the company now. we feel like that's a personal decision that each of our partners can make. and we're going to strongly encourage them to do that and we have great confidence in our partners our partners really deserve all the credit for how they navigated through this pandemic. when it came to embracing cdc, health and safety protocols, wearing masks, social distancing, hand washing, sanitizing stores. i have full trust and confidence that starbucks partners will rise to the occasion and we're

embracing and support this whole vaccination process but we don't require it >> another shafrlreholder is wih me today who has a question. >> i'm also in addition to being a proud shareholder i'm a proud parent of one of your partners, my daughter who is college age does part time work as a barista and i have to say you mentioned equality and inclusion in how you treat your partners. not just that it's empowerment and it's fabulous. my question to you seeing how things go from her eyes it seems to me in the short term there's room for expenses to come down as the pandemic becomes less i see the protocols firsthand that you put in place when a worker tests positive. it costs you a lot to close down your stores get rid of some inventory. is that something as a shareholder we can look forward to over the next year as margins go up as hopefully these protocols become less draconian. >> thanks for the question

first of all you should be very proud of your daughter i'm very proud of all-star bucks partners that wear the green apron. they showed up in ways that i will forever be grateful for in terms of your question on margins, certainly at our september investor day we're going see some expansion and margins. at the same time wean that expansion in margins we'll continue to invest in increases in wage for our partners we'll invest in digital platform that we have that reaches our customers. and we're going to don't invest in environmental sustainability. i think there's enough room for margin expansion and investments which is why we believe that by the year 2030 we'll grow from 30,000 towards to 55,000 stores around the world the addressable market for coffee will continue to grow we'll don't differentiate starbucks and take our share, fair share of that growing market and we'll do it by staying true to the mission and

the values that built this great company. >> kevin, good to have you with us kate rogers, you want to wrap it up >> kevin i want to ask quickly as vaccines roll out and stimulus checks hit consumer mail boxes do you think the volatility is behind us? >> kate, i still say look. it's not linear week to week or month to month we continue to see great progress quarter to quarter. as i outlined we're on what can only be described a path with a great human reconnection as all of us will want to socialize once again, feel a part of the community and we will welcome those customers into our stores and we will do with it that special starbucks experience that we're known for >> great we all look forward to it. kevin johnson ceo of starbucks thank you for your time. >> thank you, kate we appreciate that very much a lot more breaking news on stimulus checks.

the treasury department and irs have now issued roughly 90 million stimulus payments less than one week after thecovid relief package was signed into law. those payments were worth more than $242 billion. that's 60% of the total amount of those checks. most of the payments were direct deposits everyone who got the money in their bank accounts will be able to access it as of today treasury also mailed out 150,000 paper checks worth $442 million. additional payments will go out over the coming weeks by direct deposit, checks and pre-paid debit card 85% of households will sprachlt and the money is coming as biden hits the road to tout the relief package. >> no doubt about that let's get to headlines let's start with kamala

harris and chuck schumer speaking out accident anti-asian violence >> the people of atlanta, georgia and surrounding communities were just shocked last night by a series of shootings that left eight people dead, six of whom, six of whom were of asian descent. there's a legitimate concern that these killings may have been racially motivated. >> white supremacist prapd surged the group reported over 5100 incidents in every state except hawaii new report says americans spent $492 million less on travel the group says travel decline also cost the economy 5.6 million jobs we may be tornado page but as we

heard from those airline executives this week bookings on the rise, traffic is on the rise so hoping for a better summer travel season for those airlines >> up next, we have pete's latest trades in unusual activity we'll do that right after the break. mom and dad left costa rica, 1971. and in 1990, they opened irazu. when the pandemic hit, pickup and delivery was still viable. and that kept us afloat. keeping our diners informed on google was so important. the support from our customers, it honestly kept us going. i will always be grateful for that.

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pete what do you have? >> since march we've had six bullish hits stocks started off at 17 now trading near 19. april 22 calls going for 53 cents up to 55 cents i like this trade. i was in trade before. i got out of it. igc, we all know about the rest of them. this stock traded 18 230i7 pap buyer today of 4,500 april 21 calls. 45 cents fairly inexpensive we do have earnings on may 18th. two really quality names, i think as we get into april that i'm going to hold on to.

>> thank you on the phone is better than nothing pete >> appreciate it >> straight ahead a two-time super bowl champ will join us we're back with him in two we're back with him in two minutes.emerson. consider it solved. some say this is my greatest challenge ever. we're back with him in two minutes.emerson. consider it solved. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)

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our next devastate big fan of kathy woods art funds damien woody is with us now to talk stocks and nfl free agency which officially gets under way today. good to see you. thanks for being here. >> thanks for having me on >> we connected during the gamestop mania you love kathy woods art funds you're in the innovation fund, the autonomous technology. tell me about that >> yeah. i think she's a disrupter. when you're looking at where things are headed, i think automation will be huge. we're competing with china as far as ai is concerned i think, you know, i think that area will be huge and i decided a few months ago, just watching your show, i'm going to jump into it. >> that's interesting. you have other, obviously, some large cap technology stocks like apple and alphabet, the qs do you genuinely gravitate

orders technology type stocks? >> no. i'm all over the place i don't like throw all my eggs in one basket. i'm into oil as much as we talk about green energy oil isn't going anywhere. chevrons, exxon, paypal, square, travel, now that it seems like we're coming on the other side of the pandemic i'm a little bit of everything that's how i'm rolling >> jim is on the show. he's a big gm guy. you have gm and ford jim, what do you think about his holding here >> well i like it a lot. one thing that we're talking about is this value or is this just people piling on the band wagon. i think it can be both i don't think this is something where gm gets looked at in same regard as tesla. they are very strong fundamental reasons to believe in gm both from the internal combustion engine point of view and electric vehicle point of view

this is a winner on both front >> have you been a shareholder in gm and ford for a while now >> i have. i know like everyone talks about how gm and ford is going, you know, all electric in the near future but i've been a big believer in both those companies anyway plus i like all american stocks >> jim cramer was twisting and he said, i guess wanted to ask you if his eagles were a stock which would they be? i may be thinking because i'm a washington guy that they would be teledock. a lot of type and how 40% off the high i don't know you answer don't get mad at me. >> i'm not trying to offend jim because jim is my guy. i'm buying really low on the eagles right now they are in a rebuild. trying to dig themselves out of a cap. i'm buying low on the eagles >> salary cap you played it for josh bb belichick. what do you make of that

>> i've never seen anything like this from bill for him to pay this type of money especially early in free agency usually the great teams build through the draft and i think what bill saw last year he saw his quarterback tom brady go down to tampa, wayne super bowl and his roster is a lot of teah strapped and bill is doing that. >> how often do you trade. >> i haven't professionally managed. i just started doing retail trading type of stuff a little over a year ago. tesla is doing really good for me it performed well for me s s sg do you and a lot of other people as well >> thanks for having me. we're not going bring up the

capitals either. we're not going to worry about that >> i don't need to say anything about that >> we'll talk to you soon. up next, how futures traders are setting up for jay powell's news conference. we're back after this. 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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not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪ we see homes staying cooler, without the planet getting warmer. at emerson, we drive the adoption of more environmentally friendly refrigerants, for a greener, more sustainable impact on our future. emerson. consider it solved. time for the futures outlook. the ten-year yield hitting its highest level in more than a year let's bring in bill for that

trade. the 64 trillion dollar question. what's powell going to say about i today? what's your trade on direction >> thanks, judge it's fed day in mix here the policy is inflation, it's rates. they're all here as for inflation, cpi, pce, these metrics are not showing it it's here. lumber prices have doubled energy prices are at 2018 levels inflation is here. as you mentioned, the ten year and nearly 1.7 it's already moved is the fed going to rein in the belly to the end of the curve in what they can do today i think they will say something at a minimum talk about the slr do they talk about yield control? something there. the tiniest bit will get the fed moving higher. i'm selling the news we had a bit of copitulation

sgla good stuff. thank you. ar'll keep our eye on the ten ye all afternoon. final trades are next. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up?

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but the support from our customers, it honestly kept us going. serving the community, serving the neighborhood... this is the dream that mom wanted. union pacific, general motors, freeport, we'll tweet it out as well. that does it for us. the exchange is now. thank you, scott happy wednesday. happy st. patrick's day. happy fed day. it is no doubt a big day for everybody because as the marke