Stocks' Historic Run, Positioning For A Recovery, Airline Sector Heads Skyward, Elon Musk As "Technoking", And A New Milestone For Cramer

Squawk on the Street

Carl Quintanilla, Jim Cramer and David Faber kicked off a new market week with the Dow, S&P 500 and Russell 2000 heading into the trading session at record highs. The anchors discussed sector rotation in the markets as investors try to position themselves for a recovery, SPACs coming off a positive week, plus an upbeat morning for airline stocks: The Transportation Safety Administration said airport screening levels are now at one-year highs. Separately, Southwest said passenger demand is continuing to improve this month. Tesla also in the spotlight after its regulatory filing noting that "the titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively..." and that they will maintain their respective positions as CEO and CFO. David revisited last week's interviews with the CEOs of Verizon, AT&T and T-Mobile about the record-breaking 5G auction. Also in focus: Eli Lilly shares tumbling on news regarding its Alzheimer's drug, European countries suspending the use of AstraZeneca's COVID-19 vaccine, President Biden reportedly planning the first major federal tax hike since 1993, Treasury Secretary Yellen's comments on calls for a wealth tax, and Jim Cramer's "Mad Money" celebrates its 16th anniversary.