coronavirus related slowdown and in politics, we're still waiting for results from iowa as is president looks set to clear an impeachment conviction with a state of the union on deck jonathan is back, welcome, sir so you raised your price target on the s&p a few weeks ago are you still feeling as optimistic >> so philadelphia, timing, the timing wasn't beautiful because i think we got it right at the top, but we're seeing that earnings are coming in much, much better than people anticipate ed and we were expecting a bounce in the vix up towards 52 over the next few months and i can tell you u why, but we've gotten the first installment of that. and i think that that's also kind of inserted confidence in the u.s. economy obviously, news has been sloppy, but we're lisz than 1% away. >> we're at 1.7% on the s&p with 58 minutes left of the session shares of tesla rocketing to yet another buy today. surpassing $900 for the first time just one day after first topping $700 for the first time. tesla has now more than doubled so far this year earlier, ron baron weighed in on the sharp move higher and where it could be headed >> this year, tesla is going to do somewhere around $32 billion in revenues. i guess if they're going to do 100 in four years and i think they have potential for a trillion dollars within ten years, so basically, you're looking at the very start of what's going to happen with tesla. this could be one of the largest companies in the world >> phil is look iing at the company supplied robert frank is covering elon musk's soaring wealth. joining us to break it down is michael grainhoff. let's get things off with phil lebeau >> and let's show that chart again in terms of where tesla shares are up $160? $160 in one day. look at the volume 43 million shares beinged. that's compared to the average daily volume of about 18 million. so there are a lot of people piling into this stock now. three suppliers you may not have heard of that are crucial to tesla growth u and getting the benefit of people saying hey, i want to play this. let's start with catl. a chinese electric vehicle battery maker. it has just signed a deal with tesla to supply vehicle batteries to tesla in china. two other companies, also chinese, are lithium extraction companies. that's the key to the electric vehicle battery. one being ganfeng. and then finally, we're also going to talk about tianqi lithium corp also out of china. a lithium u extraction company so when people say i want to do a proxy portfolio for tesla, it's really, really tough because of a number of issues. there are a lot of private small companies, but these are three if you're looking to ride the wave in terms of elect rib vehicles, this is the route to go >> has there been any reanchor from the company itself? >> i actually talked to somebody at tesla today they have no reaction. i think like everybody, they're watching this. elon musk, if you were to sit him down and he's been quiet lately, i think he would say sure, people are finally realizing the vision we've set out and the fact that we are a company that not just for the near term he believes they are positioned, but he believes l g longer term tesla is positioned. not only in terms electric vehicle, but also in terms of batteries, energy storage, solar roofs. that's the game plan he's put out there. i'm sure if we were to talk to him, he'd say that's the future and i think people are waking up to it. >> did the person you speak to not have any stock options >> no, but i know more than a few people who bought tesla shares say at like 60 or $65 and it was, money this is fantastic. i'm going to cash out mow befno before the sky falls and i'm goimg to lose it i vnlt had a chance to talk to them yet but i would love to say how do you feel now? selling out 250 or 300 >> just watch the twitter feed of mr. musk which he populated often. his wealth has exploded higher this year. robert frank has been digging into the numbers there >> it was just some incredible numbers over the past 24 hours musk gaining $4.5 billion richer over the past day. he's added 17 billion to his wealth in the past month half a billion dollars a day or $20 million an hour so far 2020. he's gained more this year than any other billionaire in the world with a total net worth of 45 billion, still only the 20th richest man in the world for him to pass jeff bezos as the world's richest person, tesla shares would have to hit 3,66 $5. now in order for him to get this big bonus, that would be more than $50 billion he would have to hit more than that share price plus meet a lot of other targets but by then, he would by my calculation but worth $175 billion if he hits that compensation bonus and be the richest man ever not beyond imagining after today's move guys, back to you. >> that compensation bonus is an added massive kicker as you say. when you u break it down per hour or per day, it really puts the rest of us in perspective. congrats to him. thank you. >> your life not making 20 million an hour? >> nowr to mike who deserves $20 million an hour. >> so many factors and forces driving this tesla move obviously. yes k the results have been better and guidance was an side surprise, but the it's the flip side of the decline in frnlg this was at a time when tesla was around 45 million. this has coincided with a little more of a steep decline in exxon. i was kind of cutely pointing out the arakkoa ipo happened there. clearly most of the enthusiasm for alternative energy sources now is running through this one stock. what i'm most focused on is from the prior cob, it was about 25 and went up to 88. 25 to 88 that's a split adjusted numb eet tesla. it's had a smaller total move. only up 327%, but here, it was about 250 up to 945. so that final push, the near vertical, that's the thing that really does distinguish what's going on with tesla right now u from other big popular tech stocks we've talkeded about the volume in term of the trade yesterday today and last week. does u that suggest this is all types of investors that have to be involved or could that level be accounted for by just retail investors? >> it's everybody. i don't think retail itself could get up to those volumes but there's something a little bit deceptive about the total volume that is go on now for example, the dollar volume in tesla is enormous over $30 billion again today when you have a lot of retail flow, the machines feast on it there's a lot of ping-ponging, but i think it's everybody also performance driven professional managers that need the outperform an index and try to grab at something and by the way, this is also a generation of professional investors that will that can look back at the 20 something years of amazon and say it never looked cheap, never gave me a chance to get in on an evaluation basis until it was too late and too huge i don't want the to say tesla's headed that way, but that's the mind set that seems to be in command right now. >> thank you very much anatomy of the par bolick move in tesla stock i know you can't speak individual stocks, but do you sense any kind of dot com era man mania? >> i was lookinging at this on my screens before antd there's a natural tendency to look at the stock price and see something shooting up. but the real question is where is the unit sales going to be? if they're delivering massive revenue growth, the expectation is what's the pe on 2021 numbers and how big can this get in term of the underhighing economics? not sure if moving the stock like this, but if this is going to be a long-term win, it's because they're going to deliver on this promise and i think that that chart that's comparing exxon mobil and they've kind of the underwhelming performance of the energy sector as opposed to the move towards electric vehicles is just a really great story. it's been in a whole different place than the rest of the market as our whole relationship with oil is changing >> bp, one of the few bright spots today. >> up 4.5% >> our next guest is an early advocate for vehicles. yesterday, he called tesla's run absurdity. said the stock had hit a top but another 21% today. for more, let's bring in michael, managing partner at mobility tell us what about you do and how tesla fits into that picture. >> we're a venture capital fund based in tel aviv but investing globally but in -- we're see in the future isn't necessarily about individually owned cars taz last hundred years have been people are moving to cities. living more densely. weav we're in the age of dinlg cal mobility that's become very popular so there's so many other ways to do this other than having the burdens of owning a car and to take nothing away from tesla, but i think they are kind of leading what is going to be a shrinking market in that sense >> but i presume based on what i've read about your fund, that you believe electric vehicles within the vehicle space are the future and with it, a company that has some capable ility in d sharing, though the latter two parts yet to be proven >> that's without a doubt and ik if it hadn't been for the fracking revolution in the u.s. over the last ten years, that the move you're seeing in tesla, you would have seen ten years ago. that's what i bet on when i got involved in electric cars more than a decade ago. really today opec is meeting and they're probably going to reduce production, which is effectively taxing everybody in the world who doesn't drive an electric car. it's taking the monopoly status away from oil that what it's all about. and musk should get all the credit in the world for recognizing when i first met him in 2007, it was the case that electric cars were in fact the only way to break the honor oply of oil in transportation the only question e is b about how fast this revolution can happen a lot of us have been rolling for a time and how fast it would come and now how fast will we see it >> he gets credit for being first at this. and for growing this business. so quick ly why is tesla the only bet right now in the market's eyes >> i think the conventional wisdom on that is that tes e la, people say it's being valued not like car company, but like a technology company and there's something to that. but you have to remember also that they're not making software so the question is how can they be valued like a google or a microsoft? that sense and tesla also is as you said, going to face competition from other electric vehicle makers from the legacy automotive world and it's open question as to how they'll fare in that competition. >> who wins the ride sharing battle long-term one of the existing ride sharing players or whoever has the best autonomous driving technology or the best ev driving technology i think it's going to require all of the above the future is going to be about electric autonomous sharing and connected vehicles, but different types. here in tel aviv, i came to the studio on a kick scooter you can also pick up an electric bike for 25 cents a minute we have electric moped srs in te u.s. as we become more urban, it's not really possible for them to get around, even if the ride hailing cars, just not enough space in city streets for everybody to be in a five passenger sedan everywhere they want to go >> michael, thanks for joining us >> pleasure. >> after the break, democratic party officials expect results of last night's iowa caucuses to be released this afternoon we'll head to iowa for more on the fiasco behybrid thind the delay. and big first on cnbc. bob iger joining us after his company's earning report after the close. that's with julia boorstin here's a quick data tracker check for you. factory orders topped estimates for decembrising 1.8%. closing bell b will be right back ♪ ♪ ♪ ♪ ♪ the new rx. crafted by lexus. lease the 2020 rx 350 for $419 a month for 36 months. experience amazing at your lexus dealer. doprevagen is the number oneild mempharmacist-recommendeding? lease the 2020 rx 350 for $419 a month for 36 months. memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. and save even more when you say "bring my own phone" into your voice remote. that's simple, easy, awesome. click, call or visit a store today. ralph lauren posting strong results, beating earnings and seeing revenue increases in north america, europe and asia they said gross margins benefitted from better pricing and promotions clorox, another consumer winner today, reporting a beat on top and bottom line citing segment growth in lifestyle and personal care products. one thing about ralph lauren, that's been an interesting turn around story to watch. comes to ralph lauren and implements the strategy of what they call brand elevation. in other words, charging customers more, but elevating the look and feel of the brand outer wear did well. cashmere sweaters instead of cotton raising prices on the outlet to make people think they're getting a more premium product you saw that in the margins and you're seeing it in the sales growth which was strong in north america. more than 30% growth in china, which is less than 20% of the sales. it's not a huge head wind we've seen from other retailers, but it's been growing fast >> up double digit percentage. turning now to the broader market with the dow on pace for its best day in eight months bob b is on the floor of the exchange with the movers for us. >> hello just off new highs, and the old highs for the middle of the day, but the new high list looks like the old one. microsoft, johnson & johnson, proctor and gamble, mastercard, all the new highs just two weeks ago. we've had big volume today in a lot of etfs. like ijh this is the mid cap 400. heavy vol numb been crushed the last few weeks. you can see here rallying. heavy selling in treasuries. look at some like u srst that's selling off on big volume and guy, we're 12rks 13 points way from where we are prior to the coronavirus and s&p. that would have been about january 17th, 18th or so back to you. >> thanks. the results of last night's iowa caucuses still unu known after officials reported irregularities related to an app used to track vote tallies let's get to kayla on the ground in iowa. i guess what everyone wants to know is are we going to get the results during closing bell! well at 5:00 p.m. eastern or there abouts, is when the iowa democratic party says it expects to release the majority of results from last night's caucus after that technical coding glitch prevented the transmission of the full sets of data so that the party could be tabulating that and releasing it last night the app was developed by a d.c. based company that largely develops programs for progressive platforms. the company is called shadow and just a few moments ago released an apology on twitter saying we regret the delay in the reporting of the results of last night's iowa caucuses and the uncertainty it's caused to the candidates, their campaigns and democratic caucusgoers the underlying data and collection process via via shadow's app was sound and accurate, but it says it was the company's process to transmit that that was a problem. nevada, which has a primary in a few weeks was scheduled to have an app based platform. it clarifies it won't be using the same app or vendor and have been rying to troubleshoot with its own back end so something like this doesn't happen there but as all of the candidates are now in new hampshire trying to move on from iowa, there's one sensing an opening >> yesterday, i hear something happened in iowa or didn't happen i don't know which still can't figure that out. i was on a plane, sleeping, i woke up and said what happened, the guy said nothing >> of course bloomberg's strategy centers around the march 3rd super tuesday contest. he was not in iowa or new hampshire and we'll see whether he gets the last laugh in a few weeks. guys >> thank you very much for that. we hope to hear again from you with the results before the end of the show. jonathan, do you buy into the argument that some have made that part of the bounce is because of the disarray of the democrats in iowa giving president trump's election chances a boost? >> i think so. i think there's three things first was china put in a large liquidity injection into the market and indicated if this isn't enough, they'll do whatever they need to to make sure the coronavirus doesn't create a larger economic issue number one number two, the earnings beats are coming in. they're broadly very, very strong coming in about 5 a% better than originally expected and third, the ism jumped in a big way which says that the industrial part of the economy which looked like perhaps it was teetering on a contraction is now reaccelerating and meaningly so. you add those together and it's probably a second place. >> some research notes suggested that at least one of the democratic candidates didn't come away sweeping with a win. . >> if we get the results and bernie sanders wins, whether it's by a smaller margin than a win would typically be in this type of race, does that lead the markets to sell off or not >> it's interesting. i've heard two arguments one is if you end up with a more progressive candidate, it's an easier candidate for trump to beat the other is yes, but there's some chance they end up taking the white house. so it's not what the results are going to be. a will the of confusion if you want to trade on this, how do you want to trade on it is confusing. >> coming up, shares of snap are moving higher. jpmorgan says it remains a best idea we'll talk about that call next. >> and speaking of earnings, we're awaiting reports for disney, chipoltle and many more after the close. and we'll speak in a first on cnbc interview with disney's ceo, bob iger, after those numbers hit. back in a couple of minutes. woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. niche waiting coverage on retail markets saying health and wellness and athletic is here to stay therefore nike gets an outperform rating. a bearish note on under armour with an $18 price target there nike's budget and ability to spend tends to be a key long-term advantage. meantime, it's worried they've reached their domestic sales cross-appeali i ceiling and john donahoe sits down at an innovation event. nike will unveil new products and we'll be the first to speak to the ceo >> we look forward to that more word on the street. jpmorgan saying snap remains one of its best ideas and that relative to twitter and pint rest, it has a stronger scale and better underlying momentum and its advertising platform the firm expegting snap to report 5 million daily active user ads and the stock is up today. piper sandler upgrating elf saying their digital and social content on tiktok is defying gravity. yesterday, the man behind the viral baby nut super bowl commercial weighing in on the best social media platform for advertising reach. >> if you're trying to reach 14 to 22-year-olds, tiktok. 55 to 90, facebook >> it's all about tiktok >> are you on it >> i think i'm too old >> you have kids >> i'm not as soon as by