Whats happening with treasury yields a tz you know, the trend has been higher and that continues this morning the 10year is at 4. 63 the 2year while its in the green, its a little bit below where we were yesterday, 4. 94. Still below 5 well take a quick look at Oil Prices Data showing a drop in crude stocks, a positive sign for demand yesterday oil prices were higher, this morning giving back just about 39d . But wti is just below 30 a barrel. Meantime protests arrive ingn campus speaker johnson speaks about it. Meantime late last night columbias president providing an update, saying the school is now in talks with student protesters to clear an encampment on its west lawn. Theres a deadline tonight to dismantle or theyre consider other options to clear the area. The school now says theyre not tolerate discriminating behavior theyll put them through appropriate disciplinary processes. We will see. I know there are a whole bunch of donors watching all of this, waiting to figure out i spoke with a bunch of them yesterday off the record on some of these things, but some of those major donors say the president should have taken a much stronger stand to begin with were waiting to see how this plays out. But if you look at this, these are College Student who are graduating right now who spent the first year remote due to covid. And now youre closing out the four years with potentially not being able to go to classes. Well see what happens with the graduation too. Its not that the diagram shows the protesters are covid fearmongerers. Theyre wearing the masks. Theyre wearing their masks to cover up their identity. I know, but i see masks now i mean, there are people all over the place Wearing Masks theyre not protesting. Take your masks off. If youre doing this, let us know who you are theyve made it fine to wear a mask during these things they used to say no face coverings at all that changed during covid. But thats the one this keeps getting hit. The whole thing is you saw yesterday we talked about the president of columbia. You know, it was 20 what was it, 23 years ago, months after i dont know what her capacity was at that point, but she said that terrorism is a form of protest after 9 11 just months after 9 11, and she ended up running the place. In the highest place maybe that could have been your first clue. Part of what is taking place here is these arent all students some of these are outside people, so theyre ready to take anybody whos not a student i have to say im so not sympathetic to the argument that there are a lot of people out there making this repeatedly theyre making this point there are outside agitators. In every instance there will be outside agitators. Im not making an excuse. My point is they should kick them out. But my point is they should also teal with the students. A lot of times the students are letting in the agitators the idea that theyre out there and taking over the school is, i think, one of the great myths. Theyve allowed it to happen if it has happened they havent kicked them off campus. I think they got funding for the tents. The ma i yore is furious because they were throwing bottles and chairs as Police Officers thats not a peaceful protest. I know you dont like my old movie references, but the guy in the graduate accuses Dustin Hoffman and says, hey, are you one of those outside agitators he gets mad because people are yelling. You know, its classic that was 1967 probably there were outside agitators going all the way back to 1967. In washington, the Senate Passed a foreign aid bill, the vote, 7918. Theyre now sending it to President Biden to sign. It includes 68 billion to you crepe, 26. 4 billion for aid to israel, and 8. 1 billion to taiwan and indopacific security also included in the bill, the requirement that tiktok be divested from its chinese parent, or ban bytedance has some time to sign the billwith a possible threemonth extension if there are signs that a deal is progressing. Tiktok is set to challenge the bill on First Amendment grounds, and groups of tiktok users are expected to take legal act at some time. Meanwhile, the ftc bans noncompete clauses that prevents employees from taking jobs in the same interest. We talked about this with lina khan whelp she originally announced it its now here. It impedes the moving along of labor markets and can increase prices the new rule can strike down existing ones for all employees except Senior Executives, and theyre defined as the following. They need to earn 150,000 a year and are in policymaking roles. I think theres going to be some questions about some of the people who make more than 150,000 who think they have policymaking roles or dont well see. The new rule is expected to take effect in about four months. The businesses say theyre going to challenge it. Well have a lot more on this story. Its going to have huge ripple effects throughout the economy perhaps good, in some cases, bad, and well hear what folks have to say about it in a little bit. There are situations that have been acruised incredibly if you look at hair salons where basically when you walk in the door, you cant work anywhere within a 30mile radius. Thats ridiculous. Those people have been completely held back you can see definite situations where its been abused i dont know what the side effects are or unintended side effects down the road. I think if you look at the numbers, it should create real income for a lot of people who have been unable to leave their jobs and theyre actually able to get a raise within 30 miles and not have to move. Youre talking trade secrets. We talked the other day about real estate and inability to fizzing will i move because theyre locked into mortgages. This will be a boost in the short term and maybe the long term having said that, i think the trade secret thing is a real issue and theyre going to have to try to figure out how to deal with that. Plus the 150,000 threshold is going to be interesting. There are those who make more who dont think they have policymaking oles maybe they will from a defined perspective think they they do we do. We make the policy literally as we speak. I dont any if we feel powerful. Shares of mattel are higher after the toy maker announced a 5 cent loss in the First Quarter. Revenue of 110 million was short of the sorry, 810 million was short of the 832 million estimate, but it did affirm its full year guidance. Theyre facing comps around the barbie movie the company addressed it last night on mad money. We couldnt be more excited about barbie. We expect more shelf space in the second quarter, more offering for the collector when engaging them. Right now you can see shares are up by about 2. 75 . On may 4th Warren Buffett will be holding questions for five hours if youre a shareholder and youve got a question, please send it to berkshirequestions cm nbc. Com. Well be answering those questioning during the meeting. For those born in you remember Threes Company. Are you kidding me . John ritter, the greatest. I went to the set of Threes Company as a child. One of the greatest shows in history. I loved him. Prior to mr. Furley, who was don notknotts, who was a classi himself was mr. Roper, who was norman fel wl who accused him of being an outsider. Thats anyway, is that we used to now ill be singing the song. Were working on were trying to skew it a little bit im not helping. Youre not helping. Coming up but we want to keep anybody, right a bunch of Suzanne Somers just died unfortunately. But, remember, she was replaced by somebody and then she was replaced by somebody coming up, at t and boeing set to report before the opening bell. Well bring you the numbers and reaction on wall street. First, tesla shares jumping after elon musk says the Company Plans to begin production on a more affordable model earlier than expected. As we head to break, check out what musk said about autonomous driving. If anybody double believe tesla is going to solve autonomy, they should not invests in the company announcer this cnbc program is sponsored by baird. Visit bairddifference. Com. This is our future, ma. Godaddy airo. Creates a logo, website, even social posts. In minutes how . A. I. impressed ay i like it who wants to come see the future . get your Business Online in minutes with godaddy airo when i was your age, we never had anything like this. Get your Business Online in minutes what . Wifi . Wifi that works all over the house, even the basement. The basement. So i can finally throw that party. And invite shannon barnes. Dream do come true. Xfinity gives you reliable wifi with walltowall coverage on all your devices, even when everyone is online. Maybe well even get married one day. I wonder what i will be doing . Probably still living here with mom and dad. Fast reliable speeds right where you need them. Thats walltowall wifi with xfinity. After military service, you bring a lot back to civilian life. Leadership skills. Technical ability. And a drive to serve in new ways. Syracuse universitys Daniello Institute for veterans and military families has empowered more than 200,000 veterans to serve their communities and their careers. From professional certifications, to job training, to help navigating programs and services, we give veterans access to support from anywhere in the world. Teslas revenue dropped by 9 in the last quarter, marking the largest decline all the way back since 2012, but the stock jumped in late trading after elon musk told investors that new affordable ev models could arrive sooner than expected. Weve updated our future vehicle lineup to accelerate the launch of new models ahead of the start of production in the second half of 2025. So we expect it to be more like the early 2025 if not late this year. Joining us now is collin rush, Oppenheimer Senior Research Analyst i dont know if you watch the show yesterday we had one of your not a colleague, but someone who is also an allnalyst who said t bad news is in the stock i said i dont know if the revenues are in it or the numbers are shrinking, but what might not be in it is worry about this shortterm how long it would take to make this cheaper ev he said thats in it, too, and it looks like he was right, colin. Do you think the stock had already reflected most of the bad news its kind of borderline here. I think its an interesting point that, you know, they pulled forward the low cost ev, but they have offered very little detail on what that cost cut is going to look like. Its pretty clear theyve saturated with the model 3 and model y and its clear the model has stalled. The cyber truck has been pretty disappointing in terms of the production side of it. So theyre looking for a different production they cant push any more vehicles through the existing lines into the market. I think theyre making a pretty big break going into this analyst day in august to really start driving the company forward. I think this is an aggressive Management Team being very aggressive, trying to pivot as quickly as possible and to a different growth vector. Did you hear grumblings that the company there are concerns that the company was shifting its focus away from the cheaper model to robo taxis and thats why elon musk was trying to allay some of those concerned yesterday . Did you hear that . Theyre been funding for two months or more that they were shifting it was clearly shifting more of where the vehicle was produced again, were very short on details as to what that cost number is targeting as they start production and what the vehicle will look like, and so as we look at the model, what we ended up doing is taking eps out and running the margins a little longer we pulled 20 cents out a full 50 increments out of our eps numbers. Were now back to a controversial stock thats really as much a storied stock as a reality stock at this point where numbers are coming lower and the real growth story is with the ai and robo taxis. That was a big drop in margins. That will probably continue, although theres i dont know what were talking about in terms of layoffs and what it will end up being, but does the company have to be really, really profitable, or can it now be can you buy the stock because of the, you know, sort of the future . You know, lets just put profitability or great profitability on hold and do all these other things and invest in all these other things will that be enough to satisfy shareholders and will shareholders have to change . Will it be a different type of shareholder . Its going back to the earlier days when this was really a storied stock, that they were going to make an eb and disrupt the market now theyre shifting the narrative from being an ev making into being an autonomous maker. Theres going to be a little shift. This is the first time elon said he was going to drive across the country with his kids in a selfdriving vehicle was well over five years ago, and were still not even close to having that happen. So when you look at this, theres going to be a certain segment of investors that will look at this in the long term. But the shorts got a look at this last night. Theres a demand issue theyre getting more of a cost factor than anticipated. But theres still a lot of investment risks that the company is looking at. Theyre going to start pressing in the next several weeks. Will there be any lasting damage in terms of who buys teslas we saw yesterday someone said youd never see a trump Bumper Sticker on a prius its never happened. Tesla says, i bought this before he went insane its already happened the buyer for this vehicle has shifted dramatically there was a geological support for the brand for a number of years that the twitter process has really degraded for the tesla brand. You know, its now going after folks that are vying for a costeffective model that gets them around. Thats the yield to the model 2 and the cost factor profile. Theyre going after the buyer thats less political and is really more about cheap, affordable transportation. You know, thats where the buying pool is now, the next shift is really about, you know, whether folks want to be early adopters on this automatic technology. Were going to find out. Okay. Were going to end it there, colin. I nknow definitely the people wo own the stock might shift and the people who love elon have definitely shifted its a Different Group i dont know how longlasting it is and whether it matters, but that will well have to wait to find out, i guess thank you. See you. Thank you coming up tomorrow on squawk, weve got longtime investor ron baron hes going to talk about the quarter and where hes putting his money to work. Its a conversation you dont want to miss. Next, a new update on meta smart glasses. A new look and added functionality. Weve got details next at corient, Wealth Management begins and ends with you. We believe the more personal the solution, the more powerful the result. We treat your goals as our own. We never lose focus on the life you want to build. And our experienced advisors design custom built strategies to help you get there. Its time for a Wealth Management experience as sophisticated as you are. Its time for corient. Smart glasses. There are new features they can trabs late text from other languages and use the ai assistant to answer questions or complete tasks handsfree. I can tell you as a beta user of these glasses, of the new features, they are pretty extraordinary. It is just beyond. I thought about bringing them today so everybody could see, but i realize you couldnt they look like real glasses. You mean fashionwise fashion wowise, theyre gret glasses. Theyre very attractive. You wouldnt know theyre anything. Thats whats so great about them. Putting aside the ai, you can be on the telephone and just listen, no headphones. You can listen to music if youd like, but most importantly, you can now because they have cameras in them, you can say, you know, i dont know, if something was broken in front of us, you would say, i need to fix this, how would i do it, and it would literally talk to you, you go to the left, do this, nope, dont do that, do this, you could go traveling, you could say, what is this, talking about a painting. Could you put your apple goggles on over the glasses . Youre not seeing anything through the glasses. But you cant put anything over it, then. Could you, if you wanted to . I dont know why you would. I dont know. You love both products i dont know what a guy like you does when you have so many beta this is the future. Well all be wearing these things the coolest part is you know how weve gone to come tail parties and things where you cant remember someones name, right this is not there yet im pretty convinced within the next five years, this thing will say, thats becky quick and thats joe kernen. Youre going to look like an idiot standing at a party in sunglasses. No, no. Everybody will know that you dont remember and that youre getting help and it wont be any more sincere. Well all be getting help. Its better than looking at their name tag. I hate that. The worst part is when they dont have name tag . Can i tell you something im not going to say the name of the guy, but the whole thing was so embarrassing. I just had a meeting with him. A major ceo of a company im at ive done the same thing. Im at a thing in davao, switzerland, talking to the guy. Hes very nice to me he has a badge but i cant see the badge. I say, what do you do. He says or he i said, where do you work. He says the name of this company. And i dont know any better, so i say, and what do you do there . And he says i run it or Something Like that. The whole thing was so embarrassing were in this profession, we should know some of these things the glasses would have helped me. Ive done worse ive called you by the wrong name i know exactly who you are. We all have great sense about this. Im just saying. There was once an anchor who turned to the guy on the left and said, who are you, and the guy said, hi, im larry, and the anchor said, oh, yeah, larry, what do you do he said, im treasury secretary. Larry sumner. I remember that. Another guy before george bush was speaking, he said, i dont know who this guy is talking, george bush and King Abdullah it was the king of jordan. See, the glasses could be very helpful thats the only point. Would that have helped . I dont know. Do you think . I dont know. You won