Skip to main content

tv   The Exchange  CNBC  May 25, 2021 1:00pm-2:00pm EDT

1:00 pm
>> farmer jim what have you got? >> boeing. it's delivering planes and the stock chart is aeropekt stair step going higher. >> all right liz young. >> euro zone >> thank you very much good to see everybody. the exchange starts now. thank you very much, scott hi, everybody. amazon is under fire saying the price controls are anti-competitive we will speak with d.c.'s ag more spengds, more flying, more saying we will look at the big
1:01 pm
rebound. he's start with a quick check. we go to dom for that. >> even in steady right now but the caveat is we're off session highs. earlier on in the session. right now we're just about flat. again, flat. flat for the s&p just slightly negative we found some still waters for these markets. we'll see if that trend stays in place. a few stocks you'll want tokee an eye on. at one point today each of these big banks has hit record high. keep a eye on those financials
1:02 pm
especially jp morgan, morgan stanley and capital one. you mention that kind of get out and go and spend trade people want to g out in vacation and get back to normal one stockthat's been a proxy during the covid era pandemic has been clorox. you can see at one point it was $144 stock over the last two years. it got as high as 239. now we lost roughly quarter of our value since the highs we saw over the past year clorox has been one of those interesting trades because it's been an orderly march up and you can see a rather orderly march down as people have unwound that trade. pandemic trade, yes, it's playing out in airline and travel stocks but also in bleach and disinfectants as well. we begin with our developing story out of washington as the d.c. attorney general file a lawsuit against amazon
1:03 pm
>> this is the attorney general of the district of columbia, not of the united states here is the allegation they are saying, look, amazon fixed prices here. that's anti-competitive. ta are saying because they are these contracts with third party sellers that can't allow them to list products for less on other platforms, that means the third party sellers are incorporating those fees that amazon charges into the platform. they have to effectively plus up the fees that they are charging on these other platforms and the d.c. ag says that's raising prices across the internet landscape. amazon says the d.c. attorney jez has it backwards they say sellers set the prices.
1:04 pm
the reef the ag seeks would force amazon to fee which you are higher prices going against core objectives of anti-trust laws that's the response from amazon. the allegation here from the district of columbia is amazon by requiring those third party retailers to basically have higher prices is raising prices across the entire internet and using its position as a giant p player in market that's why he's filed this lawsuit. back over the you. >> we'll pick it up there. thank you. what's your response to amazon's lawsuit that your lawsuit would force amazon to feature higher
1:05 pm
prices >> with all due respect to amazon, a great company that i respect a lot, it hasn't answered the dwe about it ts most favorite nations agreements and the requirements it poedss on third party sellers you have third party players that want to access the internet and sell their goods if they want access to largest marketplace, they've got to put in their price a high commission, upwards of 40% from amazon and then agree that they can't sell their product, not even on their website, let alone any other platform for price lower than that they put on amazon
1:06 pm
european, german and uk raised concerns about the same kinds of clauses. amazon backed away and changed its policy >> i was going to say i think europe and the u.s. have sort of different approach when it comes to anti-trust. in this case it's all about the consumer the one place where this is interesting to me is amazon has 40 or 50% of e-commerce but they are still 5% of total retail spending in the u.s. sellers who want to sell for lower prices can go where else take their business with them whether it's walmart,.com, a physical store the argument is amazon is insisting they get the best price. what's wrong with that >> let me finish the point on the msn clauses. congress expressed deep concern about the clauses. sure enough, amazon sought to placate congress's concern but did a bait and switch.
1:07 pm
they changed the name of the clause and put the same language in another party of it ts agreement. >> if you focus on the online mark place, it seems to be an upper scale customer the correlation is the wealthier parts of the u.s sellers are welcome to do that who exactly is being harmed here if a lot of people are paying amazon prices for the convenience? >> i think you're taking a little too much of amazon's argument what they are doing is, they are
1:08 pm
making third party sellers price the goods throughout the internet on amazon and on other sites at an artificially high price that includes amazon's commission if they want to offer their goods for margin at a lower price, which is a good thing for our economy and a good thing for consumers and a good thing for third party sellers, they cannot >> they can but they can no longer sell to amazon. i take your point that's exactly how the market leader tries to stay the market leader >> you're exactly right. that's exact lip how the market leader uses its dominance to force the third party seller to either access its marketplace and other marketplaces under amazon's term or not play on the amazon arketplace. we think that is an incorrect use of monopoly power.
1:09 pm
>> where do we go from here? it becomes a much bigger deal. there's more states behind it. should we expect a similar time line to play out with your case against amazon here? >> can't comment on what other states will do i'm sure they will be interested in looking at the complaint and evaluating our theory aswell a what the expert testimony will be. >> we love to have that discussion here be you come back thank you for your time today,
1:10 pm
sir. >> thank you amazon shares were lower after the news of that lawsuit we'll continue to keep an eye on them it's all about the money supply what happens to stocks when the feds wall of cash starts to reverse? we'll look at data that came out. ban on bans. florida will now find social media companies that deep fund politicians. is it legal? we have fall out for facebook, twitter and youtube. we're back in a moment frds ok, at at&t everyone gets our best deals on all smartphones. let me break it down. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember.
1:11 pm
i am going to get a new whiteboard. it's not complicated. only at&t gives new & existing customers the same great deals on all smartphones. get up to $700 off our latest 5g smartphones. retirement income is complicated. as your broker, i've solved it. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that. schwab. a modern approach to wealth management.
1:12 pm
look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds.
1:13 pm
. welcome back to "the exchange." one of reasons for the massive market rally has been the huge liquidity injection. will the money dry up? is that why crypto and other speculative parts of the market start to struggle? i'm joined by rick and greg. rick, where are we on the money supply >> money supply is up to 20.1 trillion let's go over this we're talking m2 it's a pofrgs the money supply that includes cash, checking deposits how did the government get
1:14 pm
stimulus checks? sav sav savings deposits money supply used to come out at 130 on a thursday back when i traded in the '70 and 8 0s. 20.1 trillion on m2 mean it's increased 30% since february of 2020 if the fed doesn't have control of money supply, they will never really have control of inflation. does one equal the other no the secret is spending your check from stimulus is still in your savings account. the act of spending that will reinvigorate inflation that's what many are concerned
1:15 pm
about at this point in time. >> let's leave this chart up, greg, as i speak with you. i want to draw people's attention to the flattening out on the very, very far right side oift it seems crazy to say we come down to only 24% growth year on year that's how the market works. they go the peak looks like it was in february. it's starting to come down where do we go from here >> let's go back to what rick was saying we know the main money element is bank doneposits. the treasury has been depositing stimulus checks in those accounts some people have been receiving unemployment insurance in those accounts some people have got a lot of their pay has been accumulated there. they haven't been able to spend it because of restrictions
1:16 pm
it's sitting out there waiting to be spent. that's why some folks like a larry summers say there could be an inflation risk ahead of us. i want to separate from what is troubling the market now that is it's the threat of that inflation possibility plus the actual data that we have been getting like the tpi, ppi that has people worrying the fed will be raising rates sooner rather than later. a little bit of trulouble on the inflation front. not a great combination. >> we talked about there too but people look at the figures but the velocity the number of times that's turning over as the record low
1:17 pm
right now. there's so much cash parked in banks that they are pushing it back to the fed. that's what's been happening this week. they are saying we can't hold on no this cash you have to take it back from us you almost wonder and this something that bryan reynolds put in this week he said it could be really bullish. if people take it out and what do they do with it does that lead to more inflation or not >> listen, it's already some of its gone in the stocks think reddit and all the things we have been covering the last several months you hit a key that i didn't mention. bank reserves changing the money going back and forts between fed and treasury all of this is potentially a keg of dynamite. what we're arguing about is are we going to light the fuse there's a lot of things regarding inflation especially
1:18 pm
looking back a year when inflation was so light during the worst part of covid that maybe starting the picture you need to pay attention to this money supply is never been in the zip code ever. it's never been close. it's something that could turn into a big deal for pricing remember, stocks are inflation adjusted they should deal with that relatively okay. >> that's the argument is people realize this they don't the want to be sitting on cash. they put that money to work. this is behind the appeal of crypto >> right if i could direct your attention elsewhere. the thing that tells you how hard the fed pressing on the accelerator is the inflation adjusted ten-year note look at the yield on the tip bond t it's like minus 1% that's only happened twice in
1:19 pm
modern history the other time is in 2012. it was a risk environment. could p/e ratios are lower than they are today stimulus from that floating around it's fact that this is why you got to watch the fed carefully and make noises. they are getting a little less comfortable with their view that inflation doesn't become a problem for another three or four years as soon as that view starts to percolate, people start to price and taper. that real yield starts to turn less negative and heads toward positive territory that real negative real yield is such an important underpinning for all the crazy stuff you see going on whether it's super lie t -- high-tech stocks, the dodge
1:20 pm
coin, the cryptocoin once that interest rate support falls away, then i think it's look out below i think a lot of there stuff looks fragile. >> rick, i know you're trying to -- we got to go flp is the longest conversation we have have about m2 and velocity >> real quick. we cannot let the fed off the hook greg is right. real interest rates are f negative tips are negative because of fed. they push policies to make the risk the only appetite to satisfy. if it backfires, if we're pointing to the protagonist or the antagonist, i'm pointing at the antagonist and that's the fed in this equation >> feels like we're still early on in this book. thank you both speaking of fed, don't miss an exclusive interview with mary daly at 3:00 p.m. eastern right here on cnbc we're out with our nineth
1:21 pm
annual disrupter 50 list there's one with more companies on the list than any other category we'll tell kyou what it is we're auctioning off an nft of his famous haines bottom all proceeds go to autism speaks, a favorite charity of his. to bid, go do mintable.app/cnbc. it ends tomorrow morning at 10:30 a.m. eastern time. we're back in a moment designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn
1:22 pm
♪ visit tdameritrade.com/learn sometimes, you want speedy but reliable. state-of-the-art but dependable. in other words, you want a hybrid. so do telcos. that's why they're going hybrid with ibm. a hybrid cloud approach with watson ai helps them roll out new innovations anywhere without losing speed. from telco to transportation, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. good work little buddy. ♪ ♪ ♪ that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. if i could, i'd ten-x everything. like a coffee run... don't just sell it. ten-x it.
1:23 pm
at t-mobile, we're committed to serving those who serve. as a nationally recognized military friendly employer, we're on our way to hiring 10,000 veterans and military spouses by 2023. and our commitment doesn't stop there. at t-mobile, we offer exclusive savings on plans for military and veteran families. get 50% off family lines. and only t-mobile gives you access to our full 5g network on every plan without charging extra. that's right, 50% off on america's most reliable 5g network. only at t-mobile. the leader in 5g.
1:24 pm
welcome back let's get a quick check on markets. it's hanging onto a 13-point gain the s&p is higher by under a point. the nasdaq is up by 18 here are some of the movers. we're watching vimeo it's down 17% to 43 and change right now. parent company iac, of which it was spun off is down 5%. we're hearing from younitised airline ceo who expects to see a
1:25 pm
big ramp up in business travel add early as september this is an area investors have been concerned about shares are up 3% today cnbc is out with our 9th annual dis disruptor 50 list. jeweulia is a look at the indusy dominating this year's list. >> there are more fin tech companies than any other category in this year's disruptor 50 list. it has more than 20 million users. it hasn't officially said that number of users that it has since it reported 13 million a year ago robinhood is joined by other consumer facing services, chime, new bank and latin america ripple offers global payments. stripe and check out.com and flutter wave offer online
1:26 pm
payment solutions. brex powers small business expense management this comes as $46 billion was poured into fin tech companies world wide, so far this year that's already more than the $43 billion invested in all of 2020. only 20% say they think traditional financial institutions are evolving fast enough this according to a recent report we do expect fin tech to dominate the next wave of dis disruptor ipos robinhood has filed privately and we are awaiting it ts public
1:27 pm
s1 >> thank you very much for that full list, cnbc.com has the disruptor 50 we'll be speaking with the ceo of health care firm neteera. wait until you hear what they are up to. florida is banning social media bans a look at the king of luxury it's all coming up in rapid fire the exchange is back in a moment (vo) this is more than just a building.
1:28 pm
it's an ai-powered investment firm with billion-dollar views. a cutting-edge data-security enterprise. yes, with a slide. a perfect location for the world's first one-hour delivery. an inspiration for the next workout cult. and enough space for a pecan-based nutrition bar empire. it could happen. this is where dreams become brick and mortar. find yours, on loopnet. [typing sounds] [music fades in] [voice of female] my husband ben and i opened ben's chili bowl the very same year that we were married. that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”]
1:29 pm
1:30 pm
soeshld need ya companies traens parent about content moderation practices they have a carve out for what appears to be disney they have a carve out for companies to own a large theme park or entertain m venue.
1:31 pm
disney does fit the bill the bill's legality is in question ron will say it doesn't matter, my intention is clear. >> it's deeply unconstitutional speech regulation. >> it is popular. >> if you felt like it, you're carving out florida as this bastion of freedom for people and min. these point a number of of issues they had running for office and saying all sort of awful things and how to do that.
1:32 pm
>> i think a lot of people are unhappy with how they moderate on both sides of the aisle facebook and twitter have deeply complicated moderation problems. this law is bad. it was passed for political signaling purposes not to actually address the policy issues. all thoeds cse companies have f amendment right ofs of their own you have to pass what the supreme court calls strict scrutiny how is accepting disney narrowly tailored
1:33 pm
>> i take your point let me bring in deidre are they protected -- putting aside the politics of this and whether they are popular sh aren't the companies protected by section 230 aren't websites and platforms allowed to set their own rules this is the discussion we were having about amazon at the top of the hour. if you want to be on our platform, these are the rules. take them or lever them >> this is political theater the governor is trying to make a point here is this going to receive legal challenges of course it is. it's ironic this is happening in florida where miami is making a big push for tech because of the lack of regulation federal regulators and lawmakers are moving slowly. you see states take this into their own hands.
1:34 pm
>> robert, what would you add of somebody acutely aware this move to florida that ron desantis seems to be capitalize on is real >> easy solution it exempt a company that has a theme park all facebook, youtube and twitter have to do is open a theme park in florida. how fun would bit for families once they have gone to universal, to go to twitter land or facebook world. how fun would that be? >> sounds awful. >> i'm going to end rapid fire there. that's the best idea i heard and a clever way for me to move onto our next topic the next topic is lordstown
1:35 pm
motors they expect to produce, at best, half the number of vehicles it previously forecast for 2021 they are projecting higher than expected cost. people were really unhappy about that downgrade last week investors thought it was extremely unfair is that call vindicated to some ext extent now >> i think this highlights a broader problem with spacs congress looking into the spac in is sort of another illustration of this and investors have to be careful 37 spacs a way to market quicker
1:36 pm
and allowing investors to get in earlier but these projections can be out of line and that's what lordstown motors is really showing here there's more where that came from >> a quick word, eli >> i think the big bet for l lordstown is they would be faster than the old companies. they have a steep hill to climb against car makers that understand the threat is essential. >> that's the incumbent versus start up question. the tension you can feel across the entire market. >> we have shake up among the ultra wealthy. lvmh became the richest man in the world squeaking past jeff bezos. the surge in european luxury stocks and the primacy of the
1:37 pm
clie neez co chinese consumer. jeff is back on top today. these two are neck and fleck >> lvmh is a giant machine that just keeps buying brands and executing perhaps better than any other sort of conglomerate in the world they are based if europe so we don't talk about them that much. they acquired tips and already start of ramping that up, putting into their system and their secret, aside to understanding china perhaps better than any company in the world is data. when you go to one of their stores whether it's the shoe store, fendi bag store, dior, they is your data. they can cross sell you all the other things they think you'll
1:38 pm
want from all their other offerings. there's no stopping them d again, no one has cracked that market better than lvmh. >> what would you add especially about the chinese market and it's both a blessing and in some ways a curse where the chinese are sepending their money, the politics become complicated. >> critics say you have to compromise to be able to operate. i lived there and i remember this was years ago the luxury boom is real. luxury stores are bigger, nicer, better staffed than anything we see over here that was years ago they were close.
1:39 pm
this idea of revenge buying representing a big rebound for luxury goods in china will be interesting to continue to watch. >> what is revenge buying? >> robert knows what i'm talk about. it's that you weren't able to spend your money during the pandemic so you're going go out and buy these big ticket items as a revenge buy >> i thought it was like a divorce or something all right. you leaving me -- i'm going to spend your money i guess that's what people are calling it splurging. treating yourself. singles day. before we end. we want to talk about the return to the workplace many people ready to leave the workplace. the revenge vacation, should we call it. worn out workers are ready to make up for their lost vacation time according to new research, 44% of professional surveys say they are more burned out on the job today compared to a year ago they are planning to do
1:40 pm
something about it they plan to take more than three weeks vacation time this year >> you had a great discussion with steve last week about productivity up with of the reasons we have seen such a surge of productivity over the past year we're all at home. there's no separation between work and life. i'm always on my computer because it's there and because i'm here i go to gym every day. beyond that, i'm always working. people will finally take vacation because there are places to go >> we heard companies requiring their employees to take days off to ameliorate the situation. >> i think we'll see a lot of companies try to stand the post-pandemic attrition wave
1:41 pm
that's coming. i think a lot of people are rethinking their entire lives after spending year looking at the same screen for work and for entertainment at home they are thinking about what they will do next. it will be great i think it will be very create ef a time >> do you have some personal news to share? >> i don't think i can be empemploy ed anywhere else >> good. thank you all very much for your time today robert, frank and eli. today mark's intel ceo 100th day at the helm. the stock is under performing leverin leaving some investors twoernds if he's the right man for the job.
1:42 pm
1:43 pm
1:44 pm
on mad money as he now predicts a stronger future for the chip giant. i checked in with tech analyst, he said he's the right man for this job a respected technologist and engineer's engineer. he can pinpoint problem and decide how to best tackle them moorehead has impacted intel culture. laying out a very bold plan to resolve the company's manufacturing challenges intel did stumble and that
1:45 pm
allowed rivals to capitalize to build out capacity and make money by manufacturing chips for others patrick moorehead argues it does make sense questions for investors, can pat pull this off and execute as competition remains fierce back to you. >> thank you very much is pat on the right path towards the renaissance? >> yeah. don't get me wrong, pat is the right guy for the job. he's frprobably the guy they should have hired two years ago. that being said, he's not a magician either. they're in a tough spot. i think he recognizes it they're in a knife fight he knows it. what's he doing? he's doubling down on spending and investments.
1:46 pm
he's doubling down on capex. he's reduce dg bing the buy bac. this is not something that plays out in three months. >> sure. anybody that's in stock game has to be ready for that battle and the up and downs of the conflict >> yesterday on the show, we were talking about how much time it takes to build the chip factory and get it fully up and running and tailor the chips for k customers. kw when you say three to five years for his time, is that enough time for intel to catch up >> if we're talking about process deficiency issues, they will not catch up on process
1:47 pm
the best they can hope for they stopgap from getting any wider. the only way they will catch up or close the gap is if they screw something up that's always possible the best to hope for is to try to stable ilize the process. >> intel is going to manufacture these chips. is that going to end up being a losing battle? >> they do out source today. there's a mix. i think they have to especially given everything else going on they cannot afford to put any other company in charge of their
1:48 pm
destiny. amd had to do this and they have been successful. intel cannot afford to allow another company or anybody else to be in charge of their destiny. they have to take that on themselves >> how long a journey should taxpayers subsidize it >> it's going be a multi-year journey. the current road map doesn't change it says 2023 and beyond that we can start to see some changes in this it's going to be a multiyear in terms of whether or not the u.s. taxpayer should subsidize, that's a political question. there are broad concerns over the u.s. being too depen dent on foreign sources and there are only three companies that even in theory can approach leading edge all three will be increasing
1:49 pm
investments in the u.s. but intel is the only u.s. company >> fair enough maybe that will help kind of push them down this path thank you for your time today. >> you bet thank you. coming up, americans are ready to travel and ready to spend to make it happen. we have the latest numbers on budgets. this as airline stocks are seeing some nice gains across the board today. you can watch us live any time using the cnbc app we're back in a minute turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandcastle crumbles. you can't beat turkey hill memories. hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap!
1:50 pm
so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our patients. to hug my students. with every vaccine, cvs is working to bring you one step closer to a better tomorrow. ugh, these balls are moist. or is that the damp weight of self-awareness you now hold in your hands? yeah (laugh) keep your downstairs dry with gold bond body powder.
1:51 pm
1:52 pm
as memorial day approaches, the travel industry is gearing up for a big rebound we have team coverage of the big recovery phil lebeau has the latest on passenger traffic as we inch closer to 2019 levels. seema, we'll start with you. >> the amount of money that americans are willing to spend is growing morning consult found that 43% of travelers planning to spend more that are $1,000, 20% said they're budgeting more than $1500. 30% said they'll stay with friends or family, down from 57%
1:53 pm
back in the winter, which suggests americans are becoming more comfortable staying at a hotel. and demographics high-income millennial are more likely to spend their pandemic savings as restrictions ease and the vaccine rolls out. experiences are making a big comeback, the most popular activities include indo skydiving in virginia, snorkeling in the caribbean, and wine tasting in lisbon worth noting, airbnb and -- are offering -- those two companies. i would expect a lot of this to be priced in already, so it's interesting to watch a lot of reopening trades still work. cruise lines up again today? >> yes, another strong day for the cruise lines after president biden passed a law that allows crew ships to sail directly from seattle to alaska.
1:54 pm
this opening the door to allow cruising to return to that state this coming summer now, for the latest passengers levels in the airports and how airlines are handling the rise in demand, let's turn to phil lebeau. what do we know? >> they're adds flights, because there are more people flying if you look at the latest passengers levels. this comes from the tsa, we're up around the 17 to 1.9 million ever day being screened by the tsa. we're edging closer to 2 million people down 32% last week versus the same week in 2019. not all way back, but getting closer in terms of airfares, people are willing to pay more. the airfares are up 16%. the summer average will be about $283 round trip, for domestic flights. then 2021 fares, i know people
1:55 pm
are say, eh, they're going through the roof, but they're still not at 2019 levels nonetheless there's an airline analyst day going on today wolf research holding it, talking with a number of executives you talked about united's ceo talking about business travel. take a look at shares of united. it's raising guidance in terms of demand and revenue as they improve, expect to be ebitda positive by the end of june. for all of the third quarter, take a look at alaska out with saying q3 leisure demand at 2019 levels, and finally there's american a lot of people asking, what is going on with business travel? it is slowly coming back, but american says it's still down 70% compared to the same time in 2019 many people believe, and earlier today, kelly, you talked about the united ceo, many believe that that change in the fall
1:56 pm
>> can i pivot here and something completely different at you >> sure. tesla had a headline out of europe about the chargen issues with their vehicles. can you talk about that and the implication for tesla shareholders is this a big deal, this 16 grand i think they'll have to pay out to people affected >> it depends on how widespread the ultimate impact is i have not read through, in terms of how many vehicles will be impacted, that they're going to have to pay through it's not just tesla. all of the automakers will be transitioning into a world where, if there are battery issues or charging issues, you know, they're putting these packs into these vehicles. it's no different than any other component that, if it fails or there's a problem, it's going to impact a wide range of vehicles and a large number >> what made me think of it was net neutrality, of throttling,
1:57 pm
fast lanes, who gets priority. it never thought of me to think of it as a software issue? karl. >> software is where it's all at, especially with electric vehicles in terms of servicing of electric vehicles over the next dade, that's what people will be watching. >> phil, thanks so much. we appreciate it, as always. that does it for requests the exchange" but coming up on "power lunch" tilman fertitta joins us i'll see you right after this break.
1:58 pm
♪ ♪ ♪ cisco. the bridge to possible. i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories. do you struggle with occasional nerve aches, weakness or discomfort in your hands or feet? introducing nervive nerve relief from the world's number 1 selling nerve care company. as we age, natural changes to our nerves occur
1:59 pm
which can lead to occasional discomfort. nervive contains b complex vitamins that nourish nerves, build nerve insulation and enhance nerve communication. and, alpha-lipoic acid, which relieves occasional nerve aches, weakness and discomfort. live your life with less nerve discomfort with nervive nerve relief. - [announcer] when you earn a degree from southern new hampshire university, it's worth getting loud... - woo! i did it! (people cheering) - [announcer] ...and emotional. - [woman]woo hoo! - cool! - [man] we're proud of you, right, trav? - yeah! - [announcer] snhu graduates recognize what they can accomplish with a supportive university by their side. - i did it... you can too! - [announcer] start your celebration at snhu.edu keeping your oysters business growing has you swamped. you need to hire. i need indeed 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
2:00 pm
when you post your first job at indeed.com/promo good afternoon markets are hanging around near all-time highs today airlines, orel travel stocks are heading higher we will get a check on the reopening of america with our friend tilman fertitta. >> and during this period of timing healthcare, a company that can monitor your heart from across the room. >> and bill ackman the internet is dying to know his secret

5 Views

info Stream Only

Uploaded by TV Archive on