to report the earnings come out after the bell, where corona commentary be the main thing on investor's minds "power lunch" starts now >> and welcome to "power lunch." i'm kelly evans and yes, it's green across the screen today. dow having its best day since june we're back in positive territory for 2020 the nasdaq back in a record high take a look at some of those tech heavy weights hitting record highs today microsoft, mastercard, adobe, sales force. all up in that record territory. for more now on the rally and today's market bounceback including what is driving stocks higher, let's go to bob at the new york stock exchange. >> and it's looking a lot like mid january, kelly we were what, 30, 33.20 in the middle of january. just a couple of days before coronavirus. look at this, we're almost back there. 17 points from where we were just prior to the outbreaks and we've got decent earnings numbers. a part of it not a will tlot of tremendous disappointment did talk about a weaker global outlook. not just coronavirus we're still arguing about a bottom new highs, a lot that says microsoft. johnson & johnson, coke, mastercard these were all at new highs on january 17th, 20th people say how could it be up 60% since four days ago? doesn't make sense it can if you do this. there are people throwing out $30 estimates now for the near future next three years or so, nobody had these numbers before they thought it was a fantasy. now it looks like it might be attainable that's how you get a stock up 60% when you get these kinds of numbers that become feez bable back to you. >> thank you so with stocks generally back in rally mode today, what is fuelling these gains and should you trust the rally? let's bring in david katz and joe is bes mer trust principle and senior investment strategist great to have you here so, joe, this tesla say anything to you about the market? do you say this is a sign things are getting too frothy and even though a few days ago we were talking about the sell off >> i wouldn't necessarily point to tesla specifically, but you just take a look at market valuations last year's rally, over 95% of those returns we saw in the s&p 500 came on the back of multiple expansion as opposed to earnings growth i think that should give you some reason for pause. does that mean things are heading sideways or down, i don't believe that, but you should approach with a little cautious >> david, would you agree with that even if there's multiple expansion, can it keep going >> well, we think that the market definitely is going to slow down a great deal last year, you were up in the high 20s, low 30s. we think if you get 9, 10, 11% this year, that would be a good year for stocks. part of that comes from earnings growth, part from modest multiple expansion we would not get caught up in today's rally, yesterday's rally. we think the coronavirus is still a significant overhang, possible negative. and the market is definitely going to have bouts of pessimism and optimism best advice would be buy into days like friday when there are these bouts of pessimism and not chase days like today when everything is good again >> joe, what do you say to that and is there a real explanation for what's going on? anything >> i think it's easy to point to the coronavirus. just as perhaps being that catalyst that really led that sell off there's a lot of anxiety, fear, around this coronavirus spreading and in today's day and age of social media -- >> so why did the fear seemingly disapate is it because people think it is piquing? >> perhaps first, china's been very aggressive with its response to this and it might be givinging market participants a little comfort around it and the second thing which i think we have to remember is anytime in history we've had an episode like this, some you go back to sars for example, markets and the economy did sell off of course once it became apparent that this was spreading, but shortly afterward, once we actually saw the virus piqued if you will, markets and the economy rebounded. there's some pent up demand there and i think part of the rally today is perhaps reading into that a little bit >> david, same question to you going back to tesla for a moment is that emblemmatic to you about any of the overall market action in either a cautionary way or is it a sign that hey, retail investors paying attention they're getting back in. does it say anything to you like that >> it is and in a cautionary way. we think the market is being driven by tremendous momentum. when something is good, the market can't get enough of it. tesla's been very good the market truly can't get enough of it, but you're seeing it in other things investors dot caught up in those type of rallies. don't buy a stock because it's going u. if something's above 30 or 40 times earnings, history has had you're not going to do that well with it. the flip side is when the market doesn't like something these day da days, been penalizing it almost on a daily basis, so if you can buy a good business for the next 12 months under 12 times earnings, you're going to do very well. so we are weary of the 40 plus times earnings we like to put new money in the low p stock here and we think there's going to be a return br value does better this year and growth absolutely is going to slow down because you're having a melt up right now. there are a few names that remind us of the nifty 50, which was decades ago and that did not end well >> are politics playing any role in what's going on here? the end of the impeachment saga at least for now i can't see how the iowa mess figures into this, but who knows. >> i can't figure out how the iowa mess is having any impact on this either but i think overall when you think about politics, i would add that to the list of other things like the coronavirus. we do expect this to be a choppy year we think volatility in 2020 is going to be much higher than it was in 2019 and i would echo david's comments there you want to look for opportunities into the market's weakness to perhaps get more exposure for a long-term investor >> all right >> thank you both. appreciate it. joe and david. >> we've been talking about tesla today. having another monster day after being up 20% yesterday that's a good year for a stock. but hpt been a day it's getting another 18% today and shares since the start of the year have already doubled. tesla now bigger than companies like mcdonald's and nike in terms of market value. ron baron still thinks tesla still has a lot more room to run. >> this year, tesla is going to do somewhere around $32 billion in revenues and i guess they're going to do 100 billion in four years and i think they have potential for a trillion within ten years. so basically, you're looking at the very start of what tesla, what's going to happen with tesla. this could be one of the largest companies in the whole world >> joining us now is collin rush and our phil lebeau. gentlemen, welcome i'm going to start with you, collin that was a pretty bold suggestion from ron that this company in which he has a large stake of more than a billion dollars, so he's a fan he thinks this company can go to a trillion in revenue in a decade do you see that? >> it's pretty aggressive and early to tell, but what we know is that they've been able to take double digit market share in the premium market for vehicles so the possibility for them to take 10 or 12% market share in the overall is totally feez bable at this point. then when you translate that into revenue sh it's a little high but the earnings power is substantial and there's a lot of sensitivity towards upside on margins there that we think can translate into appreciation on the shares from here >> if you go back, phil, to october, september of last year, u you would not say that tesla was a rocket ship of a stock >> not at all. >> it was a oi >> can question becomes what changed. >> and what has driven it up almost three times >> one, they got china plant up u and running faster than expected that was the first time that i noticed a sea change in terms of people in the past say oh, yeah, tesla, musk and what he's doing. oh, wait a second, now there are serious questions about they can achieve what they set out to do. on top of that, there has been this shift and adam was talking about this today towards esg reasonable investing and if you believe in that, and if you believe that you want a company to play that market, tesla is a smart play in that area. those are a couple of the catalysts that are there >> the only irony that still strikes me is how much of tesla's electric power still comes from a coal fired grid >> kelly, that doesn't hold any water with anybody i've brought that up to people and their response is what's the deal some day, you're going to pay the price one way or the other at the pump, in terms of pollution or at in terms of grid with coal fired power plants >> you had blackrock with this announcement saying we're going to be climate first, divest from thermal coal, but it still plays a role in powering 20 or so percent of the total grid. everyone wants that day to come when it's wind and solar and tesla plays an important role there. but the complete vision for tesla looks like an energy company. mike said maybe even a software dpaen. >> all those things and collin can talk to this the fact that whether you look at battery storage, energy generation, the solar roofs, if that business ever takes off then you add in software component, let me throw that question to you. you look at tesla ten years down the road, what do you see? >> at core, there's credible battery technology within the organization and that's terrible science they've been working on for well over a decade we think they have substantial advantages when we look at what's happening in terms of integration for solar and wind and taking share on the replacement sector, we're looking at 60 to 70% of new power is renewables then it becomes enabled by batteries to go to 100% of new u power over the course of time so seeing something like half of power come from renewables is achievable and going to be enabled by battery technology and tesla can play a very important role in that >> so you just raised your price target remind me where it stands. >> 684 it's a challenging situation. we went to a disruptive technology company multiple at 30 times look at 2024 earnings of nearly $30. wen we look at one point of gross margin improvement for them, it translates into about $3 so if we're off, we can move the stock you know 90 to $180 very, very quickly just in terms of some execution on the gross margin side i think that's what people are looking at nowere in this business model and what you pay for it >> does the sharp move higher make you more cautious at all just wondering hook, it b obviously can't go up like this forever. >> clearly no. but the question is when does it turn and what do you look at in terms of the trading dynamics. right now, the move is higher, what we're not seeing are the classic indicators of the sell off in the morning and a buy in the morning, sell off in the afternoon a. we're not seeing that to sell the stabilization on the stock we think the momentum is still moving high er here and we're looking for those signals on the trading desk >> sure, today being another example. tesla at 927 guys, thanks appreciate it. coming up, democrats in disarray still no results from last night's iowa caucuses. almost everyone is declaring victory, including president trump. the latest from iowa is coming up plus, disney reporting results after the bell so much to hear about the disney plus numbers, star wars success and china disruptions. all things investors havto pe ay attention to stay with us here on "power lunch. -flex, to keep me moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex. find our coupon in sunday's paper. robinwithout the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? 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>> kelly, the chair of the iowa democratic party, troy price, told campaigns to expect the majority of the results by 4:00 p.m. central, 5:00 p.m. eastern today. those results would be incomplete, but would represent at or a little bit more than 50% of the 1700 presipgts. price said the full set of data would be released as soon as it was verified, which could be a week or month from now this incomplete data set even before it's relossed is is raising more questions the biden campaign is already challenging the accuracy of these numbers if light of some reports of lackluster turnout forr biden and the sanders campaign still has a fresh wound from a 2016 iowa caucus that went to hillary clinton that its supporters feel was rigged candidates are all pounding the pavement now in new hampshire. a state where up until this point, they had only spent a handful of days and not much in the way of ad spending of course it is the backyard of vermont senator bernie sanders who has that home field advantage there, but now all these candidates are trying to chip away at the lead. biden's campaign in the meantime facing this potential lackluster data from iowa is already tryinging to assure high ticket donors that he can win in south carolina and in nevada later this month that happened on a conference call with these donors reported by cnbc's brian short and this is happening as michael bloomberg is reported to be doubling his ad spend as he sees a path for himself post iowa and that dollar spend could reach about $600 million >> thank you very much last night's democratic debacle adding fuel to the fire for president trump and for the markets ahead of tonight's state of the union address let's bring in sean, head of public policy research at barclays welcome. i want to get to mr. boloomberg in a moment, i assume he's going to target super tuesday, which is where he would need to do well to have any shot. but my question is how big a wrapped up gift is what happened in iowa for president trump? because he can plausibly say the democrats can't count and if they can't run a caucus in a little state like iowa, how can you expect them to run a country in a modern world? >> the news cycle moves very fast as you know, so i think there is some level of him putting out different tweets and comments on this and laughing about it but i think we're going to move on quickly with new hampshire on february 11th >> but he knows how to keep stuff alive. >> you're right. i might be dating myself this is like hanging florida 2000 >> ai lead a satire piece in morning in "the new yorker" saying that florida had kindly volunteered to send people up to help iowa with this. so let's get to mr. bloomberg. as we move on from iowa, one way or the other, they'll get results out. he's going to up his spending. i have to think his target are those big super tuesday states which this year include california, which had been a june primary, and texas. >> absolutely and something we've written about is look iin at super tuesday, it's 35% of the delegates. only 4% happen in these early states of iowa, new hampshire, nevada and south carolina. so super tuesday mplays very large role so the fact that we don't have results isn't that dramatic for us in our point of view. >> why did the parties, this is not the right word correct my verbiage here why do the parties left small states like iowa and new hampshire go first and have such outsized impact or influence on who they nominate? >> it's a larger conversation. but basically, this is a historical situation where iowa's been first in the nation for quite some time. there have been questions about whether they should continue in that roll and i'm sure following this year, people will bring up those questions. >> it raises an interesting point which is that the electoral college serves to build coalitions so if california now has so much influence a inand texas, big population states, but the ideology of the coast is usually different than the ideology of the rest of the states is there a risk that california might move the party to name somebody like a bernie for example who wouldn't actually be able to defeat the president >> good point. the democratic party uses a proportional allocation of delegates so if you win 75% of f the vote, you might only get 75% of the delegates in a certain primary. this happenedin 2016 while op the republican side, it's often u winner take all r most so in a multiparty candidate race, then candidate president or then candidate trump only got 30, 35% of the votes but 100% of the delegates. you could have a long race and get to the final primary on june 6th, then from june 6th to the con vens, they'll be scrambling in to figure that out. >> do you buy into wisdom that if sanders or warren are ascendant as the campaign continues that the market will take note of that and might sell off? >> i think the market is concern ed about a very progressive candidate for a lot of reasons but keep in mind just because someone's president doesn't mean they can do all they want. sxwl no, they'd have to deal with congress. and likery, you'd have a split congress so if you want to revise what is you usmca or look towards the european ewunion, you can have lot of power you might decide environmental and labor issues are at the top of your ticket >> thanks very much. >> now a big rally on wall street today has friday's losses a distant memory all the major averages are now again positive for the year. the nasdaq hitting a record high and dow up just shy of 500 points more analysts getting bullish on nike that's helping the gains and trader's take on nike is coming up right after this. nike rallying for a second day in a row after bmo initiated coverage analysts calling it best in class in north america will its run continue? let's bring in the trading nation team. steve, what about the coronavirus risk impacting china sales? >> look, coronavirus risk is real we don't know what impact it's going to have you know to simply chains at this point certainly demand in asia our general view when we look at these things is e we assume these are not end of the world scenarios and that we're talking about demand and production that's delayed, not destroyed, but it's something we're watchful of. at the end of the day, the story with nike has been the strength of the u.s. consumer and it's indicative of what's been a strong environment in the u.s. over the haas couple of years. >> jc, what do you make of the chart? >> well nike has been one of those charts where it has historically paid to buy pullbacks especially within the longer context of the uptrend taking place one way to find out whether a pullback is viable is looking at the rsi indicator and every time we reach 30 we've seen nike shares rally 20% so coming into this trading week, we saw nike was exactly at that 30 oversold condition on rsi so if we extrapolate that 20% average move to the current price, we could see nike break to new highs and target the price point. >> that's an interestinging price point. thank you. for more trading nation, head to our website or follow us on twitter at trading nation. thank you very much. ahead on "power lunch," disney's on the clock the entertainment giant will report profits after the bell. will coorona concerns crowd the quarter? plus, illinois is one month into the state's legalization of marijuana. is it meeting the high expectations "power lunch" will be right back a key accuser in harvey weinstein's rape trial a day after she became so upset the judge suspended her cross-examination. she told the jury ors today. a second oklahoma city student has died after a group of runners was struck by a pick up truck it was driven by a man whose own son was killed in a traffic crash over the weekend three others remrehospitalized thearrested. paul whalen is now one step closer to going on trial this after his latest appeal was rejected whalen, who was detained in december of 2018 denies the charges claiming he was framed and the lone baseball writer who did not vote for derek jeter for the hall of fame has decided to keep his or her ballot private. since 2012, each voter can check a box on the ballot to have it made public two weeks after the vote totals or not you are up to date that's the news this hour m back to you >> thank you very much stocks are in rally mode big time today the dow is just off the highs of the session up u 478 points. s&p higher by 37%. 33.04, nasdaq leading the way with a 2.1% gain and the oil market which has been on the slide is closing for the day it's sitting out again frank? >> hey, kelly. actually it was pretty much flat for most of the day as concerns over coronavirus and reduced demand have been somewhat off set by opec. support prices have fallen sharply over the past two weeks. brent falling around a percent wti falling just about the same. so the lack of movement for most of the day, again, we saw u the prices fall as we approached the close. the lack of movement most of the day due to investors getting a lot of mixed data on global production sources said a cut of half a million barrels a could be coming it also remains unclear if the virus is contained really creating a murky picture. >> thank you very much markets shaking off coronavirus fears at least for today, but the virus does continue to spread the number of cases now above 20,000 427 deaths now linked to the virus. all but two in mainland china and the w.h.o. saying it expects the cost of containing the outbreak from february to april will be $675 million not including the economic consequences let's go to eunice for the latest on how companies are managing their china businesses. >> thanks so much, tyler well china's top health officials have released ed the fatality rates for wuhan, the epicenter, the rate is 4.9% this is much higher than the rate nationwide. however, the efficients said today that they are confident that that rate will continue to drop as they ease the bed shortage today the shorts said that the city of wuhan has added eight pop up clinics to take care of milder cases and the public health concerns as well as the travel restrictions have imposed a lot of challengeses for businesses to operate here a gambling center in macaw has suspended all casino related businesses and big events are now in question. for example, the china development forum, a major event run by the government, which attracts a lot of exec thetiutis such as tim cook from apple is now postponing its marnl march event. the venue, the canton fair which is popular with u.s. companies as well as chinese suppliers, the venue has suspended exhibitions, though the fear itself hasn't decided what to do now many companies that are open are operating, but have put in strict measures in order to try to make sure its employees are safe pizza travel has been restricted there are several temperature checks now as well as disinfectants. masks and gloves are also given for a customer facing employees. in fact, a disney for example, has closed its parks in hong kong and shanghai, but u tokyo remains and and for tokyo, their staff there wear masks, but no hugs and limited photos for the characters and the kus mcustomet the park >> thank you very much and for more on the coronavirus, join us tonight for a cnbc special report, outbreak at 7:00 p.m. eastern time for all the facts you need to know as the virus continues to spread again, 7:00 p.m. eastern here on cnbc >> and wall street will be watching disney as it's likely to address the coronavirus impact on its china business when it reports earnings after the bell shares are up more than 2% today ahead of the release and up nearly 30% over the past year. let's bring in managing director with morgan stanley. he has an overweight on disney and just raised his price target to $170 from 160 at the end of january. ben, great the see you how much of a head wind do you expect coronavirus to be >> thanks for having me on this quarter obviously is big focus is disney plus and the direct consumer strategy on the coronavirus front, as your colleague mentioned, shanghai and hong kong are already closed we had some head winds in hong kong i think in the grand scheme of disney's earnings base, these are not enormous factors, but they'll have some impact going forward. then in the u.s., the big focus from an earnings perspective will be whether or not coronavirus starts to impact the u.s. so far, we're not picking that up, but obviously that's going to be a question for tonight >> right what are you modeling for the financial impact right now what do you think is priced in in terms of how long those parks have to stay closed? >> this is such a tough situation to forecast from a modeling perspective i don't know if i have a specific answer for you. i think the reality is they own less than 50% of the shanghai park hong kong, we had already cut that to a loss for fiscal 20 because of the political unrest in that market already so i don't think for those two as sets, a tremendous amount of risk for earnings. >> are you ready to declare that disney has conquered streaming and if so, what does it mean long-term for the company? >> we're forecasting 22 million subscribers for the end of december, but the visibility into that is only so good. look iing at app download data we're looking at other survey work we've done. so whether 22 million or 18 million or 27 million, we have the conclusion big picture is the same which is a strong stafor this start. >> and they've got europe to come, right, to add to this. >> we believe they'll be launching even a similar if not larger footprint of potential subscribers in march in europe than they've had in the fourth calendar quarter so there's a will tlot of good s ahead. this is a multiyear wbet and we're seeing a massive global transition in television from linear to streaming. this looks like disney's got the ip and stlrategy and the risk tolerance to build something big. but it's early >> just to put a point on it, if the expectation is between 20, 25 million subscribers, what you say the whisper number might be? higher or mor moderate enter of the range? >> i think whispers are in that range you just laid out. but again, there's how the stock reacts tomorrow and what we take away over a long period of time. if you want to look at my forecast for disney plus a year ago, you'd be making fun of me on how conservative we were. you're too nice, but somebody might be we need to step back and look and see this product is off to a tremendous start >> quick thought on two things one is the upcoming nfl rights what's going to happen there how much are they going to have to pay and number two, where does hamilton fit into all this? they got the rights to produce the feature movie for something like 75 million. >> yeah, the nfl upcoming renewal is a very big deal for disney and the industry. for a variety of reasons and i think for disney, i think they want to do more with the nfl i think abc will play a role in that as well as espn look for sunday ticket to make come into the conversation as that contract is up. so a lot of stuff happening on the nfl front and i expect some resolution during this calendar year and i think it will probably be a positive for all the broadcasters involved in nfl distribution on the hamilton front, i think we're all looking for the next big franchise for disney's movie studio i don't think hamilton is it, but it should be a nicely profit bable film for them when it comes out. >> i'll finally get to see it thanks very much >> thank you >> and don't miss disney's ceo coming up at 4:00 p.m. eastern on the closing bell. >> to the bond market we go. rick santelli b tracks the action at the cme. hi, rick >> hello, tyler. boy, things have changed rather dramatically on the fix ed incom sovereign side with respect to treasuries now granted they haven't gone tesla, but they have moved a lot. look at the three day of twos. we went from our low intraday yield of 131 up exactly ten basis points as we stand at 141, up six on the day. three day of ten year, low friday was 150 here we are at 160 up ten since that level. up u seven on the day. the interesting point is both are up ten there's no yield curve implications twos to tens at least based coronavirus virus. june futures yesterday, they were above 50% today, barely above 40 for an ease at the june 10th meeting. only a few ticks away from 98.01. should it close higher, a fresh close. back to you. >> thank you coming up, jane wells live in illinois a month after the state legalized marijuana. zbljane >> kelly, the state of legal pot varies by state and illinois is getting high marks, despite high prices and high taxes. the numbers one month in when "power lunch" comes back imagine traveling hassle-free with your golf clubs. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money. make it simple. make it ship sticks. shipsticks.com saves you time and money. our retirement plan with voya gives us confidence. so we can spend a bit today, knowing we're prepared for tomorrow. wow, do you think you overdid it maybe? overdid what? well planned, well invested, well protected. voya. be confident to and through retirement. it's a masterstroke of heartache and redemption. the lexus nx. modern utility for modern obstacles. lease the 2020 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. got a market flash on ebay >> that's right. that's on this headline that from dow jones that new york stock exchange owner intercontinental exchange has made a takeover offer for ebay that could value the company at more than $30 billion. dow jones reporting it approached ebay in the past. did so recently. reportedly primarily interested in owning the core marketplace business not its classified, which ebay has been considered selling. dow jones emphasizing the companies are in formal talks. no guarantee they would agree to a deal, but they approached ebay after takeover back to you. >> i have so say this is a head scratcher. we'll wait for more information to come in but yes, they're mund mentally both exchanges you can argue it's a high-end exchange, but they've spun off v venmo which had the paypal and venmo. they've sold stub hub. sounds if these reports are true, the new york stock exchange parent companies are interested in ebay as a pure play marketplace >> dow jones in talk iing to sources trying to parse what the potential strategy could be here, they note that perhaps what they see is this opening to apply kind of its tech chops, connecting buyers and sellers to ebay's core e commerce site. if we get the reaction, we'll bring it to you. >> trading stocks on e ebay. serious. would u that be a stretch? >> i don't, you know, tyler at this point, i don't have more information unfortunately besides what i have from dow jones, but like i said, we're reaching out and if we get a reaction, we'll bring it to you. >> josh, thank you appreciate it ebay shares are up 10% on that report it's been a month since marijuana was legalized in illinois jane wells is live on chicago's south side jane >> is it the model for cannabis legalizationays in, they've hadt $40 million in sales and most o those are from out of state they've really been praising ilsz for the way it rolled things out it had clear rules and medical dispensary owners could start selling adult as well >> so you had a number of businesses that were operati operational, that had the infrastructure, that had been vetted so the state let them essentially flip the switch and become a adult use producers and retailers. >> it's not perfect. taxes are high compared to just 1% for medicine marijuana and medical patients get first dibs ben says you need a year to plan and plant. >> program passed in june of 2019 not enough time to increase supply for the kind of demand increase we've seen. >> now across the country, recreational sales are outpacing medical sales despite the tax difference get this, guys, later on fast money, flipping cannabis license. the secondary market for marijuana licenses it's a thing back to you. >> jane, thank you very much now that the super bowl is in theory books for this year, the next big event is the draft in april. a bunch of young men will become instant millionaires up next, we'll talk to someone who wants to help them stay that way and the markets as you've noticed, rallying today. big tech, apple and microsoft among the biggest corintbute or along with united health "power lunch" will be right back thepark city,led landscape or the famed peaks of whistler, you've faced the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking ship skis delivers, hassle free. ship ahead and go catch those first tracks on fresh snow. ship skis. your skis. delivered. the number of uninsurising.ricans, the cost of prescription drugs, rising. the threat to people with pre-existing conditions, rising. the good news, so is support for the one candidate who'll do something about it. as mayor, mike bloomberg helped expand coverage for seven hundred thousand people, including hundreds of thousands of kids. including hundreds of thousands of kids. as president, he'll lower drug costs and ensure everyone without coverage can get it. that's a promise. and unlike him, mike actually keeps his. i'm mike bloomberg and i approve this message. patrick mahomes is in disney for most players, that's considered the tail end of their careers and sadly, within five years of ree tiring, a significant number of athletes end up broke but leagues are trying to end this circle of financial pain our next guest is drew hawkins drew, welcome. good to have you with us >> thank you for having me >> these young men, average career length, something like three years in basketball, four. baseball, maybe five they come to a lot of money very quickly. they're unprepared for it. what is the biggest mistake they make how do ythey lose it, when they lieu it? >> a lot of time, they drive right in they don't have a plan and unfortunately u have not been educated arpd the topic. when we think of doctors, attorneys, they make a lot of money in most situations, but they have a long time to recover and deal with some ofthe challenges they make these young men and women that go into professional sports don't have that so they are thrust into a situation where they're making more money than they've ever thought b about making and in so many situation, they've never had any background or exposure or parents or other people to help them deal with these issues >> story after story with these athletes and entertainers is they fall prey to unscrupulous money managers how can you help them avoid that >> our focus is on education we don't manage money. we talk about the things they need to do from a betting perspective. how to have the interviews with these individuals. we work with them on being engaged in the process and taking an intimidating project and making it easy haven't had exposure to it, being able to get this training, talk about it in real terms as opposed to a will the of the sophisticated concepts that people typically talk to individual about with money, we make it sim pm >> they have a lot of pressure to say hey, it's payback time for some to come mind my way also reminds me of the lot toe effect anytime someone comes into a lot of money quickly, especially at a young age, they don't always handle that situation well what would be the one or basic things that could help people avoid making the worst mistakes? >> first of all, they want to get a budget and get their arms around their spending. they want to get a good team of individuals around them that are qualified and have experience related to things they're about to deal with athletes lives are different their tax situation. they file a tax return in every state, but if you don't have someone that's had experience in that area, you're not going to know the other key piece, they are the ceo of their business and they have to treat it that way we hear the quote from jay-z all the time, i'm a business man i'm not a business man, i'm a business man and they need to understand that. so early on, being engaged, educated, getting their arms around this they are going to be responsible for the decisions they make and being a part of the process and understanding how it works is going to separate them in a variety of ways from others >> got to leave it there thank you very much for your help today >> thank you >> our parent company nbc ewan veorincos.esremcast ventur a insts arn >> and check please is next. don't forget, you can also watch or listen to us. client. that's why our advisors care about what's important to you. they offer personalized advice to help you prepare for what's expected and even what's not. giving you the freedom to live financially confident. because to us, you're more than just another face in the crowd. with the right financial advisor, life can be brilliant. ameriprise financial. - [narrator] at southern new hampshire university we're committed to making college more accessible by making it more affordable. that's why we're keeping our tuition the same for all online and campus programs through the year 2021. - [woman] i knew snhu was the place for me when i saw how affordable it was. i ran to my husband with my computer and i said, "look we can do this!" - [narrator] take advantage of some of the lowest online tuition rates in the nation. find your degree at snhu.edu. on any given day, there are stock stories then stock stories and today's stock story once again is tesla now at session highs it is up 21% for the day above $900 a share it was up 20% yesterday. it has well more than doubled since the first of the year. >> i think people took note of what collin rush said in this program. he said he's watching for that price action to start breaking at the end of the day. the fact it's building momentum still tyler is going to get continue to draw people in >> $165 a share today. >> my goodness quickly, also major deal headlines, dow jones reporting thag the parent company of the intercontinental stock exchange might be looking at ebay a lot of questions about what synergies exist for these businesses ebay shares up 9% selling off 2 or 3%. and thanks for watching. >> closing bell starts right now. >> welcome, i'm here at the disney post today. that stock due to report earnings after the close shortly after that, we have an interview with bob iger, the chairman and ceo. don't want to miss that. broader markets, strong rebound this week following some coronavirus related selling. we are 455 points on the dow 59 minutes up to the session >> welcome, everybody, let's look at what's driving the action nasdaq hitting an all time high today on the back of another giant leap for tesla shares. up 21% now

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