implications >> julia, thanks to you. get ready for next week as we get goldman, morgan stanley and a lot more let's get to the half. thank you. welcome to the halftime report i'm wilfred frost. companies will start to report quarterly result next week and investors will be watching for clarity on the path forward. we'll debate the markets and your money with the investment committee today. let's check on the major averages before we begin the discussion stocks mixed but tech and discretionary hitting new record highs.

value and cyclicals are doing better than tech tech just in the red energy and financials at the top of the pile. stephanie, are we getting a rotation, the start of something that might last a bit longer than it has done ever before >> well, you know my position. i own a bit of growth and value. i'm hoping value has its day in the sun. what you need for value to work is better growth and also a higher expectation for inflation. while we are getting better growth sequentially. you're not getting anything close to inflation look at the ppi numbers today. i think this is why a barbell strategy makes sense people will still want secular growers that can participate many some very powerful themes

you want to be price selective but you want to have exposure there but exposure to the cyclicals if you believe the growth is going to improve and that will lead to inflation. my supply is up 25% year over year that's a big number. that will come home to roost, i think. one last point, i would say on value. depends on how you define it if you define value by the traditional, like materials, energy, financial, that's just 16% of the s&p 500 weightings. more meaningful. i think you have to pay attention to what sectors are starting to improve. the banks next week are going to tell us if it value has any kind of chance at gaining some momentum >> looking forward to the banks. josh fwroun, are we getting hopes of more growth or of the ppi data this morning, the bond yields move this week or

suggesting otherwise >> yeah, the bond market doesn't believe there's any kind of sustained recovery and is acting as though we are still very much mired in the first wave of the infections 60,000 new case s not the recipe for returning people back to their jobs returning consumers back to shopping, selling car, putting kids back in school. all of that stuff is still on hold you have two different stock markets as a result. you have the stock market that resembles main street which stephanie was alluding to which is now only 16 or 20% of the s&p 500 a really doesn't matter. there's a little bit of a bounce in those names today overall they have been absolutely abominable. you have the world's wealthiest, most hilarious casino of all time trillion dollar company, complementary cocktails.

tech was 1% on the open. look at the rebound in those names. they took it back in a minute and peleton, spotify, zoom the technical term for those is lnn lnno we're talking about these billion dollar industrial stocks who ever cares apple and amazon one is up 10% this week. this week. one is up 5% they have a combined gain in market cap on the week of $220 billion which is like bigger than every other stock you can think of comcombined that's a week's gain in two companies. we have two different markets happening. one which reflects how bad this economic recovery is still and the other, which is, again, pretty hilarious and really isn't a lot of similarity between what's happening in

growth tech and the rest of the market it's been like that for a long time >> where do you get the free cocktails? i haven't seen that announced. >> you have to pour them yourself >> i'm going to sign up for an account with them. we are seeing some tech names pull back today. amazon, alphabet, facebook, all in the red do you have to seize a buying opportunity in those names on the rare days they do slide a bit, a couple of basis points here and there >> no. i don't see the buying opportunity in those at all. i think and this is where i am the outlier but i think they have gone too far. when i say too far, i don't mean i think they have major collapse coming but as we look to the next year or two, i would not be surprised if the other 495 companies come up in terms of market cap, in terms of waiting in the s&p if the other 495 companies if they don't have

relative out performance to those top five i'm looking to buy the other 495 and looking for other opportunities there. >> in terms of what the option market has been telling us, have we had any resoundingly bullish or bearish messages coming out of it. yeah, the messages are bullish, bullish and bullish. i've been sort of highlighting and throwing it up on social media and the top four it's crazy to some degree because we're talk about 30 plus million contracts trading yesterday and in four stocks you can have maybe 3 million or 4 million of those contracts in four or five stocks each and every day. the really interesting part is the derivative in markets have been right more often than wrong

in terms of showing us the way shows us the names that aren't in the power five but in the biotech world but the other names that don't get talked about quite add much there's a lot of activity out there. the derivative market s have bee on fire. both with volume and volatility. call it 29, maybe even 30. that's been going on for multiple point months but they have been very focused and staying away from the banks for the most part. they have been staying away from many of the industrial names other than boeing because there's so much momentum there a will the of people are

involved a bit of a casino with three drinks it really is an impressive market right now in terms of how much activity and how much participation we're seeing yet you have all that money that continues to sit on the sidelines that's not involved and that's where you just wonder, when does some of that money market start to flow in more so. we all know how many trillions of dollars are sitting off the market that have missed a lot of this run >> are your clients bullish, bullish, bullish >> i would say my clients are one of cautious optimism which is very much in line where i sit. right now we have a market that's had the incredible recovery we had the economy that was on the way to its reopening and obviously we are sitting at a place in time where we have growing layers of concern whether it's rising case rates, obviously the political headline risk is increasing and also you have the concerns around the back to school season.

that's very top of mind for my clients. it's how can we get our economy back to work if we can be the get our children back to school but in a safe and healthy way. right now i would say that we're have this level of volatility but volatility is very healthy and so is a period of time where the markets have to consolidate the robust amount of gains it's had since the march lows it's worthy to be a bit cautious i don't think we can have a full pass it will be a lot of scrutiny in terms of whey that they will be doing. it will be a lot of good to hear from the basic thenology companies that many of the panel have mentioned to validate what's happening in the acceleration and the pool forward of technological change in our economy those will be key elements to

hear >> we're at education hisessions you all own amazon let's start with amazon. i was pointing out earlier today that the share price differential between amazon and wells fargo is 125%. we're getting close to earning season does earnings make people re-think that difference because you'll have something reported on the bottom of that multiple to look at or is it still just momentum, momentum for amazon. >> well, sadly, that disparity you point out is happening even before amazon decides it's going to be a bank and a consumer finance company. stay state of the union etuned t i don't think either of these

stocks trade on earnings i think the expectations for wells fargo are fairly low in line with most traditional banks. they should be low i don't think it's a great environment, quite frankly for lending and for a lot of the mettime metrics that wells fargo needs to show increased profitability. at best they will do a good job playing defense and a good job using their balance sheet to be opportunistic. this is a one times book value nine times p/e ratio stock in a good market. i wouldn't get too excited there. on amazon, we already see the kitchen sink quarter they did that to us. it was smart it cost them nothing they came out on the heels of the worst pandemic in 100 years and they said, attention shareholders, maybe it's time to sit down and curb your enthusiasm it's the right move. stocks done nothing but go up ever since then which is what i think stephanie, myself, we all said this is exactly the tone they should have said.

can they do it again can they throw more expenses at this quarter do they have to? we'll see. i think revenue growth will be spectacular and i think investors will ignore any abberration in the bottom line this stock has never traded on that it's not going to start today. >> margaret, it's up 72% year to date do you take any profits you have in amazon or lock away the key for the next decade? >> i would go with the latter versus the former. the reason being if you think about the various ways that amazon can win even over the next three to five year period, the amount of acceleration happening in their businesses whether it's aws with cloud computing and some of these other cloud computing stocks are trading at 20 times sales and you take aws up a few multiple points, it's quite easy to get to this valuation. think about their e-commerce business where e-commerce is about 16% of u.s. retail sales today.

that could double in three to five years and obviously amazon will be a big beneficiary of that while yes, near term valuation might be a concern but long term multiple ways to win on amazon >> let's bring in our next guest. jason is odyssey capital adviser fort fol portfolio manager. do you think that earnings is a risk for them, an opportunity or ir relevant given they are so driven >> thanks for having me. i think a lot of these megatech stocks, there's so much opportunity here what we evaluated is the centralized labor force we have seen as a result of covid-19 we believe these names will have quite a bit more run microsoft is one of the names we follow very closely. very strong balance sheet, strong cash flow

i believe it's one of those names that most for of our clients are very familiar with they understand how they make money and do well in this environment. along with their products, services and what they offer fairs well in this climate i think they will continue to do well >> that's microsoft, docusign, twilio are they at risk of seeing market share lost to the big players who perhaps can see how successful they have been. we talk about docusign or zoom and start to kind of eat into the extraordinary multiples that some of those smaller tech cloud plays have earned themselves >> i think it's possible automated work flows and the ability to equity with employees

interdepartmentally across businesses will be important companies that continue to be innovative in this environment will continue to fair well i think there's still a lane here i think there's still a lane to run. time will tell off course. we like them as a firm >> thanks for joining us jenny, i don't know you don't love the high multiple stocks. which would be your preference >> we do own facebook. it's cheap it has solid earnings ahead. i think cheap, relative to peers is a really key element there. >> we have some breaking news. it's going to reat a time at some point a bit of rotation today. it doesn't give you huge performance.

breaking news. >> reporter: president trump casting doubt over a phase two china trade deal he was arriving in miami and he spoke to reporters and said he has many other things on his mind and that the relationship with china has been severely damaged. he went onto blame china for the spread of the coronavirus saying that they could have stopped the plague they did not stop it and he could have stopped it from going across china and therefore they deserve this blame he's saying that's one of the reasons that he is skeptical of phase two trade deal going forward. as you know, there's skepticism over the phase one trade deal even being completed again, this shows the president having some tough words for china even as he's being pressed by his democrat rooifrl joe biden over exactly how harsh he plans to be with the country back over to you >> thanks so much for that i don't think we expected phase

two any time soon. does the headlines derail that thesis or have they managed to pivot their economy to be more domestic focused now >> with all due respect to the president, there never was a trade deal all of the reporting tells us there were like these sideline conversations about come on, please buy more soybeans and things like that which has nothing to do with the u.s. economy or helping the issue and it's not an accident that the dow jones made a record high in january of 2018 right as the trade war was beginning to heat up and has never been able to appreciately get over that level. the trade deal has been a problem for a lot of the u.s. economy and it's never improved. before the pandemic, during the pandemic, probably not even in the aftermath of the pandemic

because there really hasn't been any substantive deal that's meant anything to the real companies that are doing this kind of cross border buying and selling of industrial goods, agricultural goods, et cetera. it's nonexistent it doesn't seem to be impacting china the same way it's impacting the u.s. economy chinese stocks made a five-year high last week followed through with incredible strength all of this week and not just tech stocks in china, the csi 30 take a look at the shanghai composite. look at the fxi which is chinese stocks that trade on the london exchange mostly blue chip stocks. they are breaking out in concert. that's happening when u.s. investors are sellers. 7% of all the assets that u.s. investors have this year in chinese equity etfs left, walked out as chinese stocks are out

performing the emerging markets index from june 1st through yesterday is up 16%. the u.s. stock market is only up 3% all of these trade issues are a much bigger problem for u.s. companies than they are for the chinese economy and the stock market in that country is telling us that. >> shares of disney down nearly 18% so far i don't know who i caught up they're telling me to get to disney 18% down the company have to shut all its theme parks, push back film openings and run espn without leave sports it's the largest theme park. disney world will begin opening its doors in florida let's bring in julia with the latest of what to expect and the challenges they face this weekend. >> the first fares of disney world are the magic kingdom and

animal kingdom they will open with limited capacity starting tomorrow this is coming despite the fact that cases in florida are hitting a new record a 25% surge in the 7-day average. cases in california are rising and in california, just yesterday disney started reopening stores a restaurants at the mall outside disney land. although it has delayed opening that park until the governor approves plan. now, this is an important moment for disney's parks and resorts division which last year was disney's largest division by refr kn reven revenue. disney lost an estimated $1 billion plus due to the closure of its parks in the second quarter. this weekend's big reopening comes as disney shares are at a cross roads. they are down nearly 20% this year and they're not just way down by the parks. it's the movie business which has been on hold with the

release of mulan delayed multiple times now it's scheduled to come out in late august it's the lack of live sports which has been weighing on espn. >> theme parks make up what level of that business >> this year very little if you look at last year, the theme parks were the largest division by revenue and the largest driver of earnings growth it's a very different story this year it's worth noting the u.s. theme parks are very important and the theme park in florida is much bigger than the theme park in california >> julia, thanks very much for that l let's trade it ma margaret you own disney. we're closer to the high than the march low which was about $80. we're at 120 today isn't there a lot that can still go wrong with these reopenings >> there are going to be some challenges for any company like

disney to try open an environment like the parks in this pandemic. i would also say at this juncture where the stock is trading today where there's still not getting value attributed to disney plus which had not been referenced in that segment but notable that disney plus is an incredible success. e shoing the obvious robust level of content in their pipeline just really demonstrates the value that disney plus will drive for that company over the long run and demonstrates they are likely going to achiever profitability in that business before what was fiscal '23 previously near term, the parks which operating profit growth in the parks had been running about 15,

20% annually before the pandemic and now as julia mentioned, we're a very dismal territory now on that. if you think about the brand, the equity of the brand, that can continue to be a big driverdriver for the stock and you have the disney plus on top of that that's not embedded in the valuation of the company in my mind this is a company that you hold for the long run and we intend to do so >> pete, you have exposure to disney as well >> yes i cut it in half the reason i did was, i got a little bit concerned because of exactly wa you brought up. what if we get these parks open and we have to close them down again or at least stay incredibly low levels. i think that's something concerning along with studios. disney plus is great yes, that's an incredible something that they needed to do for a long time. they should have done it long ago. they finally got their way around to doing it i think that will be fantastic for them that does not make up for a lot of the losses that they will be

continue to have going forward now, if they do shut down, that's why i had sold. i think disney, if there's the possibility and we see these outbreaks everywhere, if there's the possibility they have to shut down again, i think you'll get another opportunity to acquire it you have to be very careful because of the possibilities of what might happen as we go forward. this is day one. what's going to happen a week from now, two weeks from now, a month from now i think that's got to be a bit concerning >> stephanie, just quickly, we also get netflix numbers next thursday that stock is up 66% year to date to disney ease down 18% is there much more risk attached to netflix's earnings given that run up >> the expectations are high you could say that about the tech names and the faang stocks like we talked about the expectations are high but they have the product that people want. they get a pass on profitability

and free cash flow they have what people are doing now. staying at home, using their services i think it's a very competitive space. a very competitive environment it's one of the main reasons i don't own disney i did own them i sold it at 145 earlier in the year they have problems with parks. they have problems with the movies but it's have very competitive environment in disney plus and this whole space. i think the expenses will continue to be elevated for the entire space that's not a place i want to be involved in at this point. too many other ideas >> netflix up 6% today 66% year to date earnings on thursday live on closing bell still ahead, banks set to kick off earnings next week on tuesday morning, to be specific. mike mayo will join us with what he's expecting from the big five nkwh wrernn cole of minutes feeling stressed?

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markets are slipping a bit up only a third of 1% of the s&p. let's get some news headlines. sue has got them for us. >> i do indeed thank you very much. hello. president trump tweeting that he wants the tax exempt status of universities and schools re-examined. he says too many are about quote radical left indoctrination, not education, end quote it's unclear what authority he would use to make such a move.

we're just in from the white house, the storm coming up on the coast. the roman catholic church received $1.4 billion from the paycheck protection program. ap says that sum could be more than $3.5 billion which would make the church one of the biggest beneficiaries of federal pandemic relief funds. apple reclosing another 11 stores due to the recent surge in covid-19 cases. most are in southern california but there are closures in maryland, ohio and tennessee you are up to date that's the news update back to you. >> thank you very much bank earnings kick off next week jpmorgan reports quarterly results tuesday morning opinion wells fargo senior bank analyst mike mayo joins us now

i guess the key question i have is will provisions be higher in q2 than in q1. >> first quarter for the banks was earnings still the second quarter will be worse. the other reason is the impact of lower interest rates. it will be the worst quarter since the global financial crisis talking about tough sobering times. we're in the middle of that. the good news is we think this is as bad as it gets what's even more important than the numbers themselves will be the commentary the commentary around the recent fed stress test. certain banks like goldman sach are falling below the minimums

they need to get to. the second factor will be the credit losses which you mentioned, wolf and some banks will be leaning into taking reserves for future problems and indeed we estimate loan losses will increase by almost three times over the next two years. that's major issue the third big question that i'll have is what's the clarity or lack of clarity based on the economic outlook today we were seeing green chutes several weeks ago but now you see openings and closings and some mixed currents. getting that like down to the person update. the largest banks of tens of millions of customers. are they spending more are they backing offer what's happening here? the commentary is what i will find most important next week. >> every one says these stocks are cheap. are they cheap out right in an absolute sense based on the outlook today are are they only

cheap when you think of things relative to the tech stocks or relative to their own history? >> this is one of those opportunities if you're a long term investor, this is the time to buy bank stocks this is an income statement recession. it's not a balance sheet recession. this is not 2008 it's 2020. these stocks are priced as if it's the global financial crisis and worse. by the way, there are major disconnects. the valuation of bank stocks relative to the stock market as a whole, they are very inexpensive. if you look at the debt markets, the $6 trillion investment grade bond market says that banks are some of the safest investments based on the bond yields yet the stock market says they're one of the most riskiest investments. we think the bond market is right. in absolute terms, on relative terms based on my 30 years of experience in covering the

banks, bank stocks are inexpensive. not withstanding these are some very difficult times >> josh brown, you have a question for mike? >> i do. mike, jpmorgan said that about two-thirds of the draw meaning commercial loans that were borrowed in first quarter have already been paid back, which i think short term is not great for profits but maybe intermediate term it's great for capital ratios why are commercial borrowers returning money? do you think that has something to do with the government program or refinancing in some other way? what's your take >> i would say thank you treasury, fed and banking regular la regulators because they have stepped in here and prevented a bad scenario from getting much worse. you saw draw downs from corporations in the middle of march. many of the loans have been paid back the reason is capital markets

are wide open. we're talking record fixed income issuance year to date you have taken the bank loans and gone to the debt markets and the next stage could be re-equification of some of those corporations lit be interesting to watch if the equity markets pick up >> stephanie >> mike, i have a question on the stock pickings and your favorite names you're favoring the capital markets. equities will be up 30%. trading will probably be up 30 to 40% i get the call on capital markets but those stocks like morgan stanley and goldman sachs have out performed some of the traditional money center banks morgan stanley is down 5% while jpmorgan is down 32. i'm curious to why you wouldn't switch a bit and go a little bit more contrarian. i think the set ups are better

than the pure capital market play i'm curious your thoughts there. >> short term, goldman sachs is our number one investment into the earnings next week they have something to prove they were worst in class in the fed stress test among the major banks. they need to build up the capital ratios these are some of the best risk managers and we are buyers of goldman sachs going into next week i would agree over the next one the two years, the largest banks, including citigroup citigroup, bank america and jpmorgan are some of the best fin tech players i know there's been a lot of chatter. the narrative is look at these players and how much business are getting. the largest banks are really dominating digital banking like never before you're seeing the dream of national banking through 25 years ago really play out in the form of digital banking. city group trading below

tangible book value by a big margin, really they are not the poster child for this crisis. in fact, citialong with bank of america are a source of strength goliath are winning. those are the three goliaths the next one to two years we're buyers of those. absolutely >> you said this is not a balance sheets recession what are some of the provisions in the cares act that are due to expire quite soon. what are those provisions onto extend it? how much of your conviction rests on the government support that does apply to the moment? >> flthere's no question. the government has stepped in and eased the pain on individual corporations and banks themselves this year with the huge increase in reserve for problem loans, the earnings before those provisions are about twice as much that's for the largest five or so banks as you go smaller in size, there could be more problems with the

banks. if this goes on longer and longer, we still think the largest banks should be able to earn more than the amountthey have to set aside for problem loans. you can withstand and absorb a lot of these problems for several more quarters before we have to start thinking about it being a balance sheets recession. >> thanks for joining us banks have a good day today. next, pete is making moves in the option market stay with us for the latest trades in unusual activity you can watch or listen to us ppve on the go on the cnbc a halftime is back after this.

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shares of alibaba have risen 20%. pete, what have you been seeing in the options market here >> this is great example of bullish activity this stock is up 20% today they are buying the july 275 calls. the next one i have is cleveland cliffs we had a couple different material names that we're hitting. they bought 13,000 of the calls

for about 26 i don't know where the numbers are now but i know it's been going up, up if this stock can breakthrough $6 in next couple of weeks, doesn't have to do that. as it moves toward there, these options really could fly i love what i'm seeing there i bought those i'll be in them for a couple of weeks. >> thank you very much the nasdaq has gone negative there was the china commentary even though our traders weren't bothered by that dow still leading the way. still to come, a big upgrade for foot locker. the desk will debate that stock and our call of the day. don't miss our interview with carnival ceo arnold donald 4:00 p.m. eastern time on the closing bells. those shares are leading the s&p today. down sharply year to date. we're back here in a couple of minutes. d in a highly-connected lexus vehicle at the golden opportunity sales event. lease the 2020 es 350 for $359 a month

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welcome back foot locker higher after being upgraded to positive we have details. >> the title of the note stomacstomacums it up well. foot locker upgraded and raised the price target from 25 to 34 it's up about 4 3% today. the best retail companies focus on comfort and athletic apparel and their data indicates, for the younger consumer, they are spending stimulus checks on footwear and apparel many people are saving on cancelled vacations and less dining out and more disposable income to shop the note does caution while foot locker benefits from this additional spending in the short term, long term it may not carry saying over the past 16 months saying foot locker's business

has under performed adding that it's a good stock, just not a great company at this time speaking of the stock, it has recovered from its march low still under pressure on a year to date basis down 24% almost 25% >> thank you very much for that one. let's stick with foot locker for our call of the day. stephanie, you own nike. did we not learn that earnings do matter and secondly, would you consider foot locker too or instead? >> i'll take the latter question first. foot locker is at 13 times forward estimates but also been between 10 and 13 times forward estimates. that's because the company, the management team doesn't have a great track record in terms of executing. you add on that while they have great brand exposure, they're in the mall and have stores those are the two places where you don't want to be within the retail environment in the

sector while i think it's cheap and always tempting, i'll stick with a nike, although i would not buy it they have the brands, the best balance sheets they will grow to 30% by fiscal 2021 that's two years ahead of time they have the flexibility to adapt in this time and the challenging time and they will be a winner long term. i'm just going to hold onto any key -- nike at this point >> there's only two sell ratings across his coverage. plenty of neutrals and buy ratings. copper surging over 20% in the last three months. how thfures e tutraders are playing in and what it means for the rest of the market, straight ahead. this is decision tech.

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welcome back time for the futures outlook the copper rally easing up today. it's on pace for its 8th straight week of gains let's bring in scott nations of nations indexes. scott, how you doing what's been driving this and how are the dhacharts looking is it going to rally on here >> sttremendous rally zero percent interest rate and china reopening. it would be easy to try to pick a top that's really tough to do. i'd rather go with the trend the way they do that in copper is to buy the september contract $2.85. i want to let it pull back a little bit because i don't want to pay the top stock would be tight $2.80. target, $2.99. it's just below that april 2019 high that you mentioned.

>> the if we're bullish on copper, do we have to be bearish on gold? >> no. zero interest rate policy helps both of them there's plenty of reasons on go interest rates and we're still in turmoil here. >> scott nations talking bull and bear on both we've got your final trades. "halftime" back in two

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welcome back the traders are answering your question first a question from stephanjah in carolina. stephanie, the casinos are so far off their highs and i want to buy one for the long term which one has the best fundamentals and pa terribotentg forward? >> they are gradually phasing in reopenings they started in june, they're now going into july and i think they'll make slow progress i like wynn resorts.

62% on a sequential basis annualized that's a crazy number and big rebounds, and i think wynn will benefit from that. >> josh, gary in texas writes, josh, i know you liked store central before covid struck, and it performed well. when will it be time to get back into this position >> i guess i liked it in march or early april i think this is a pretty binary bet. you will never believe we'll go to a store on main street to buy a new cell phone or eat at a restaurant you either believe you will never do that again, or you believe that, slowly and surely, that activity will come back and the merchantswho have physical space will benefit as a result of having their customers come back so i happen to believe in the latter

i don't think 100,000 years of human evolution and history is so completely altered that all of this real estate is main street is now worthless, and so i like store because it's not a bet on a power retail, it's not a bet on something that's obsolete it's services. people want to get their makeup done, their hair done, maybe a brow blowout stor is a way to make that bet and it's a really good valuation here >> josh has already had one of his cocktails, i think next, pete, to you rob in connecticut with the cabin reveal coming later this month is virgin

galactic a buy >> i like this name. i think it's a great way to make money someday. it's a great opportunity in the upper teens. >> the next question is for jenny. ethan in new york says, do you think oke is a goodbye how far how much higher can it go and what price do you see it at by the end of the year? >> i like oneok. the dividend is still covered. they are extremely committed to it when we hear its earnings call on july 9th, i think we'll get a lot of comfort you should get your 13% yield. >> anthony in providence wants to know your take on beverage stocks he writes, do you like any of the beverage stocks as a buy, and if so, do you prefer starbuck's or coca-cola?

>> a great question, anthony, two very great high-quality companies, very different challenges today coke actually not just a soda company, a total beverage company. so near-term coke with diversified product base, much more ability to manage through this challenging time, so less earnings pressure near term and a solid dividend yield it's time for final trades, 15 seconds each. steph, first >> i still like the homebuilders d.r. horton is my favorite benefiting from low interest rates. >> josh? >> staying long nvidia it just crossed intel's market cap for the first time ever. new update this morning. i'm staying with the name as i have been for a long time. >> pete? what are you going for >> i'm going to give you gld i think we've seen so much option paper in there that tells me it's going higher i think it's going higher. >> jenny >> united rentals. even if reopening slows,

construction does not. it has a 10% free cash flow yield. >> margaret? >> qualcomm a great way to gain exposure to the upgrade cycle which will continue regardless of what happens with the economy and the virus. >> thank you all for joining "halftime" today let's get over to kelly evans and "the exchange. >> thank you, will hi, everybody, on this friday here's what's ahead of us. the opening and closing of america. disney is set to open its doors in orlando even though the state is one of the hottest hot spots. plus shares of tesla have now more than tripled this year and there's fresh talk of adding it to the s&p 500. top signs of a top or will it have staying power we'll debate that. and is tiktok's time in america running out. one analyst says he's not buying that america