Skip to main content

tv   Power Lunch  CNBC  July 17, 2020 2:00pm-3:00pm EDT

2:00 pm
ost 101 pounds. it's incredible. summer's on us. get your first three months free! hurry, offer ends july 20th. welcome back i'm melissa lee. this is "power lunch." the in dnasdaq on track to end e week in the red. energy lagging once again today. that sector is down 40% this year every stock in this sector is down more than 20% from highs. we'll dig into some of the most beaten down names and asks if it makes any sense to take a nibble
2:01 pm
now. power lunch starts now thanks welcome to power lunch broadcasting from a secure and undisclosed location the nasdaq on pace for its first negative week since june let's go to bob for more on the marks. bob. >> choppy trading but very narrow trading range bio tech sb flat energy, oil has been hugging $40 for a month now. we're down today but up overall in the week. banks are down but up on the week and had a pretty good week.
2:02 pm
amazon down about 8% this week one of the worst week it's had in a long time all the damage in netflix has opinion today. the problem is when you have megagabe kaplerture ecagabe kacm players. that's a head and shoulders, folks round trip the same situation with netflix, really netflix was $500 a couple of weeks ago. it goes to 580 and then it's back down to below 500 that's another semi head and shoulders. we keep trying to get over 3230. we're just keep knocking on the doorp that
2:03 pm
guys have a good weekend. >> the same to you the trump administration is ramping up its rhetoric against china as tensions continue to rise between two nations eamon has the details on what's going on and why >> reporter: last week we saw the speech by the fbi director revealing for the first time, new details about the fbi's investigation into corporate espionage by the chinese government tensions continue to ratchet up when the president signed an executive order that would remove hong kong's preferential trading status he also passed a bill on capitol hill in response to the chinese crackdown. it would authorize some sanctions there. on wednesday, the chinese vowed to retaliation for that action which was a retaliation for the chinese action on thursday, bill barr slammed american companies for being pawns of beijing
2:04 pm
here is what he said >> the ultimate ambition of china's rulers isn't to trade with the united states, it's to raid the united states if you're an american business leader, appeasing them may be short term rewards but in the end their goal is to replace you. >> reporter: there are two audiences here for this message from the trump administration. one is the chinese government in beijing. the trump administration is trying to suggest, we see what you're doing in terms of stealing intellectual property and pushing the debate inside the united states and we want you to knock it off. the other one is, very direct to american ceos suggesting they think ceos have been complicit
2:05 pm
bar cited a number of names that didn't stand up including disney, apple, google. he accused the nba of not standing to beijing. the kind of thing you do not often see in this country. back over to you >> curious to me is the speech came not from the state department, not from the commerce department, not from the trade adviser but from the attorney general of the united states that's a separate issue here there's a lot of rhetoric being bounced back and forth on both sides but there are also actions being taken as the president took away the preferential trade status from hong kong. has china retaliated with more than words, so far >> reporter: they say they will. the question is what form will that take. there's a lot of ways for the chinese to put pressure on the
2:06 pm
american companies bar cited a number of those in the terms they are able to pressure hollywood to sort of self-sensor movies the way they are coming out. it looks like we're entering a new era in which that will be the case here. >> all right have a great weekend ty, as those u.s.-china tensions escalate, many are wondering if tech companies will be caught in the middle. deutsche bank looking at a new tech high. joining us to look t the huge potential hit it could have on the industry, the author of that report
2:07 pm
great to have you with us. >> thank you >> is this meant to be predictive or coincidence? >> it's a coincidental index and to track sentiment globally. there's a lot of rhetoric all over the world talking about the tech and other sides and agencies we want to measure the intensity of it. >> you had a graph saying what the correlation is which are the most highly correlated which should be the most concerned about the index spiking? >> the factors that have been kor lating when tensions rise,
2:08 pm
hardware and also demand the ones which perform during the last five years when tensions rise are software which have no exposure the unexception was fascinating with the correlation of semiconductors why would that sector do well when tensions rise >> what's your suspicion as to semiconductors >> it's hard to say. there's an expectation of the policy response from government or if i put my finger on it,
2:09 pm
there's a chance the sector has not been able to understand if there's a real disruption the government support might not be enough to offset the actual demand destruction it would get. >> you break down the total possible impact of heightened tensions and you say it could cost the tech industry $3.5 trillion which is surely an eye popping number. >> the supply chain, the way the demand aspect is a billion dollars. the supply chain is the most complicated. it took 40 years for the u.s. and china to tangle this and try
2:10 pm
to fill a a cash network the cost replacing it would be a trillion or higher >> all right we'll lever it there thanks so much for your time the cloud stocks are falling back to earth this week as investors take a bit of break from technology shares we have seen it. >> investors piled into the cloud stocks but they are taking a breather check out the clou that's the etf that tracks the cloud names. it's down about 6% this week it's on track for its worst week since march. some of the names hardest hit,
2:11 pm
sales force, amazon, drop box, docusign and drop box. this etf is still up about 70% from its march lows. corporate customers now rethinking their budget priorities it's harder for sales people to make the critical face-to-face meetings and get those deals done back to you. >> is the problem with these stocks in recent days fundamental with their business.
2:12 pm
you suggest that maybe it is or is it more the symptom of a crowded trade. >> a big run you're heading right into earnings season and maybe some investors thinking these names ran up really hard, really fast. can they meet these very elevate expectations some profit taking there before we hear the reports. there's some who make the argument that something has fundamentally, structural and permanently changed here employer recognize a lot of their employees can get a lot of work done efficiently and
2:13 pm
effectively. zoom is up 260% year to date he's banking on something really has changed here permanently one thing that's changed is we'll do a lot more video conferences in the quarters and years ahead. that's why he's banking on that name, guys >> that sounds right to me thanks very much still ahead, as oil prices remain low, the energy sector has been getting slammed but is there opportunity among the rubble or has the sector become a known touch. a record rise in coronavirus cases and one hospital in new jersey is down to just a few patients he's prepping for a second wave. that ceo will be here to explain. ♪ ♪ ♪
2:14 pm
2:15 pm
2:16 pm
welcome back new coronavirus cases hitting a record high but dr. anthony fauci saying he is cautiously optimistic the country will get this virus under control meg has the latest >> cases are anything but under control now. they are reaching the new record of in the 70,000 range of new daily cases reported yesterday that's a doubling from the new cases recoported just at the end of june. hospital saeg hospitalizations in the u.s. are at the number of cases we haven't seen since late june mode
2:17 pm
modesto, california, corpus christi, texas and boise, idaho seeing large numbers one bright spot in arizona looks like even though they are reporting more than 3,000 new cases per day, that has come down from a peak we saw just about ten days ago still 3400 people hospitalized in that state and deaths on the rise in arizona. dr. fauci speaking this morning about optimism around the vaccine. >> we're going as fast as we can with the development of therapeutics, the development of a vaccine which has been speaking about a while we got some pretty favorable results in early studies of vaccin vaccines >> we got a lot of positive vaccine data this past week but we expect even more on monday.
2:18 pm
>> shares have risen about 12% this week in anticipation. what are we expecting? >> yeah, there's been a few repor reports. none that the company will comment on oxford expecting to see pretty positive phase one trial results on monday. we know they will be published it's been amazing to see the stock reaction on the same day that moderna's full phase one results were published they rose about 7 or 8% at one point in the day hopefully they will stack up and be positive. >> moderna shares up sharply 15%. thank you. the next guest we have for you today manages a new jersey hospital that was one the state's epicenter for the virus.
2:19 pm
they are now down to four covid patients in the hospital that's encouraging but there is concern about a resurgence of the virus in the fall. here with more on that and to discuss some lessons learned as the hospital has moved through this transition is michael marin. he's the president and ceo of holy name medical center good to have you with us tell us about the case count down to four patients now. are you seeing new patients come in >> no. thanks for having me back again. it's real honor to be with you we hit zero last week and just this week went up to four. it's not a local surge we're still very optimistic that
2:20 pm
the community in northern new jersey and new york and manhattan, the virus has been very quiet >> you all were hit very hard early. i know you have not let your guard down at all. you're still on your toes because you're concerned about a possible resurgence in fall that could coincide with the flu season do you have enough protective gear are you able to source it? are you stockpiling it >> yes to all the above. we're continuing to grow or supplies here so we have enough inventory to handle another surge. if you recall, we had built a number of specialty icus very, very quickly in the middle of the pandemic and the crisis here those icus stay up and ready to go even though they are empty right now. if we were to have another surge, the issue with ventilator, the issues with ppp are all fine testing seems to still be the
2:21 pm
biggest constrained resource so getting reagents to run the different instruments, we here at holy name have four separate instruments that we force to run but getting the reagent supply for those instruments is still a challenge. >> michael, if your view, what do can you think a second wave looks like is it as bad as first wave or things you learned in dealing with the first wave and were there enough people who might have developed antibodies since the start of the pandemic the make the second wave a bit more blunt. >> good question we know people infected in the first wave, myself, my family anybody is n antibodies is not lasting long anybody everybody is working hard to try the isolate that and incredible positive movement but there's still a lot of
2:22 pm
uncertainty and lot of unknown it's very difficult to develop an effective vaccine if the antibodies are fading as quickly as we see. that gives us concern for a sec wa -- second wave. the second learning factor we see is this virus does not have seasonality to it. it's not really impacted by warm weather. it's not impacted by longer day of light and uv light helping to deter it we're very concern that come the fall, this wave could come back to east coast. there's no indication it wouldn't there's no indication either that it will we have to plan for the worst and hope for the best. >> i know you're not a medical doctor but with all due respect to who you are and what you do that is the seeming transient of
2:23 pm
antibodies means that you may not have those antibodies long if you have them it calls into question how effective a vaccine may be the question then is, what is your sense, what are the medical professionals telling you about whether we're just going to have to live with this virus maybe at a blunted incident because of a vaccine and because of antibodies the way we live with the flu or are we going to have to get used to the idea that we may be social distancing and wearing masks all the time maybe for decades. >> it's a great question it highlights the fact even at this stage of the game there's more about this virus that we don't know than we do know i think everybody needs to start to plan.
2:24 pm
we got to be prepared to how we respond. there's some opportunities if that so the cloud has a little bit of a silver lining we can't go back to the way things were. i'm also a big believer in what i call clusters of balance you have to look at a region you have to look at a virus like this right now it's not active at all in new jersey and the new york area we can ease off a little bit we got to be cautious we got to be guarded we got to have our surveillance system fine tuned, which they're not. it's a work in progress. >> we got a lot of vaccine news
2:25 pm
this week and there's some hope that the vaccine will come sooner raeter than lather than . will you be among those first in line >> yeah. >> no concerns on your part? >> you mentioned -- >> go ahead. >> i want to close on the thought we have learned fair amount about treatment, haven't we >> yes >> we know that early on we were very quick to put people on ventilators and intubate them thinking it would help the longer you can stay off a ventilator, you can put a person in a prone position, you can reposition them, force them into some uncomfortable movement,
2:26 pm
that helps the lungs expand. you recover faster >> thanks very much. great to see you again we'll have you back soon >> michael, see you again soon. still ahead, despite the rising vie ris count nationwide and travel still at a stand spill. american airline s making a risky move to get more planes in the air. netflix bulking up its content strategy after taking bit of hit on its earnings report will more shows like "tiger k g king" help keep it seang trmi experience the joy of a bigger world in a highly-connected lexus vehicle at the golden opportunity sales event. lease the 2020 es 350 for $359 a month for 36 months. experience amazing at your lexus dealer.
2:27 pm
2:28 pm
2:29 pm
welcome back netflix shares selling off after the company missed quarterly profitest mays and offered a weak guidance for subscriber growth with the field getting more crowded, where do you place your streaming bets a will the of different streaming players out there. which one has the potential to give netflix a run for its money? >> i think in terms of growth and where you put your money now, you have to go with some of the newer entrants i like disney plus it has the most solid content. it's about to fall off the platforms in september i think that as they con kol date their position as a strong content provider, that will drive significant growth here in the near term.
2:30 pm
>> craig, sizable move in the stock down 7%. what do you do with it here? buy, sell or hold? >> we definitely be a buyer. as an individual who likes to look at charts, i spend a lot of time observing thing i observe my children. i come home and they have netflix on multiple time a week pop to be a little 7% correction with the context of a longer up trend. innocent until proven guilty i'd be a buyer of that name and also place a bet looking at roku >> head to our website or follow us on twitter at trading nation ahead on power lunch, the airline ceo who is loading up
2:31 pm
the schedule even during this pandemic are crowded trading floors like this a relic of the past what wall street will look like in the future. all that and much more stay with us on power lunch. stock slices. for as little as $5, now anyone can own companies in the s&p 500, even if their shares cost more. at $5 a slice, you could own ten companies for $50 instead of paying thousands. all commission free online.
2:32 pm
schwab stock slices: an easy way to start investing or to give the gift of stock ownership. schwab. own your tomorrow. you can take a personal assessment to get a customized plan.
2:33 pm
the assessment takes into account the things that matter to you the most. i've lost 101 pounds. it's incredible. summer's on us. get your first three months free! hurry, offer ends july 20th. three months free! save without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch and save hundreds. xfinity mobile.
2:34 pm
welcome back here is your cnbc news update. prime minister boris johnson has la laid out a road map to return the uk by november people will no longer be required to return from home it will be up to local governments to impose restrictions and make sure employers have kcovid safe workplaces home depot and lowe's will
2:35 pm
require face coverings in all of their u.s. stores. dramatic body cam video from new jersey transit police released shows officer bryan richards saving the life of a newborn girl who wasn't breathing. they began chest compressions in train station restroom they rush her to a hospital while continuing cpr and just as they arrived, the baby cries and begins to breathe on her own > little bit of good news there. back to you. let's take a check on the markets now and the trend is continuing for the final trading session of the week. we have got relative under performance of tech or for the week we have seen that. the nasdaq is higher by .3 of a percent. the s&p 500 up by nine
2:36 pm
the oil market is cloedsi inclo the day. >> oil prices finishing the day slightly lower wti down brent about half a percent on the week, brent crude prices have been lower. it's been a bit of a topsy turvy week they dipped after we learned that opec and ally will be curving supply cuts. you can see wti cutting. tyler. back to you. thank you very much. let's stick with energy for now. the sector, the worst performing this year. it's down nearly 40% it's slightly positive this week that's the good news the big three energy giants, they are all following that same trend with double digit losses for the year but a slight up tick in the past few days.
2:37 pm
those losses are serious is it now time to start putting some money into beaten down energy stocks and if so, into what sector of that sector rob is a portfolio manager of the tortouise energy evolution fund. >> energy for our lights are turned on, air-conditioners. it's regard to global energy demand that pushed the stock prices down it's pushed oil prices down which really offers an opportunity we think for
2:38 pm
investors. we do know that going forward, in a post-covid world we're going to demand and consume more energy globally. >> let's talk about where energy fits in a person's portfolio as people go and assemble a portfolio, maybe you've got 30% in an s&p 500 fund what percentage of your capital, your invested capital is prudent to put into a single sector, namely energy? >> yeah, if you look at the energy as a representation of the s&p 500, it's like 2.5% or something along those lines. we actually widen how we look at energy we don't look at it as oil and gas producers. we think the energy sector encompasses everything from oil and gas producers to mid stream companies but also electric utilities. you factor all of that in, a 5
2:39 pm
to 10% allocation energy is reasonableable in this environment. the other thing that -- >> go ahead. >> the one thing that energy offers that other sectors in the s&p 500 do not is current income to investors we any having, replacing current income is really important obviously, a will the of dividends have been cut in some sectors sectors. the ten-year treasury is low f you can find some good companies that offer income levels we think that's attractive that should be part of everybody's portfolio. >> that's where i want to go next with you, rob some of the picks that are in your portfolio are precisely those kinds of choices with 8 and 9% dividend yields give me those names and tell me why you're confident those 8 and 9% dividend yields are secure.
2:40 pm
>> we focus a lot on the companies cash flows because one of the things that is going to bring the energy sector back and have investors be interested is free cash flow from the sector it's about a 9% dividend yield in other words they are not increasing debt to pay their dividend a company like enterprise product is doing the exact thing. they are generating ample cash flow to fund their capital expenditure program. we think those are attractive types of names the infrastructure assets that enterprise operates are very critical they are important they operate some really essential export facilities that will be really important going
2:41 pm
forward. >> one final quick question, if i might. i took note of what berkshire hathaway did i believe they bought dominion what is the play here in energy and by contrast what is dominion's >> you're exactly right. berkshire bought natural gas pipelines. we are in transition no doubt about it. as a result of that, we think going forward, you're going to need more natural gas and renewables and displaced coal and as a result of that, you'll have be able to generate more energy and less carbon emissions. natural gas going forward is a really critical fuel and will help not only just the u.s. but the world consume more energy with less carbon natural gas produces half the cardon abo
2:42 pm
carbon that longer term theme and as transition that plays out over a series of several years is what berkshire is looking at and seeing significant demand like natural gas pipelines coming out like the marcellus shale in the u.s. >> thank you very much we appreciate your time. have great weekend coming up, the stock getting a lot of love from analysts and one being cut to a sell. the ceo of american airlines isn't going to let the pandemic stop the company from flying why american is adding fghlits "power lunch" will be right back first up is this exquisite bowl of french onion dip. i'm going to start the bidding at $5. thank you, sir. looking for $6. $6 over there! do i hear 7? $7 in the front! $7 going once. going twice. sold to the onion lover in the front row! next up is lot number 17, a spinach and artichoke dip,
2:43 pm
beautifully set in a hollowed-out loaf of sourdough bread. don't get mad get e*trade and get more than just trading investing. banking. guidance.
2:44 pm
2:45 pm
time for today's power movers starting with regional banks. the stock down opposed to the loss in the quarter even though total revenue beat expectations. jb hunt soaring to an all time high today results were hurt by the economic slowdown but not by as much as feared we end with nio, the chinese electric car maker goldman sach's downgrading it to a sell the stock is up 250% in just the past three months. that stock is down 17% ty all right. let's say we go to the bond market rick who is following the action at the cme hi, rick
2:46 pm
>> hi, tyler pretty good looking chart there. we're toying with making new high yields of the day we're still down on the week on all maturities we're getting close. 134 basis points just one basis point away. maybe the big action today is in the etf space. look at lqd. this is life of contract going back to 2002 back to you. have agreat weekend. trading places on wall street. many big banks saying traders are doing just fine from home. are crowded trading floors done
2:47 pm
for good wel okt atex introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today.
2:48 pm
2:49 pm
all right. many big banks reporting results this week. you know numbers saying their trading divisions did well even as nearly all traders were not at work. they were working from home. we look at what this means for getting wall street back to work bob. >> there's no mass movement to go back to work immediately. most wall street and the banking community are working from home. look at the stats this week that
2:50 pm
came out of the conference calls here 80% jpmorgan employees at home 85% of bank of america 90% of morgan stanley. 95% of bank of new york mellon working from home. a lot of executives emphasize how well the whole work from home from home a lot of executives emphasize how the work from home experiment has been working. the technology was doing well. some are trying split team approaches look here. there is goldman sachs they're already using the split team approach where they alternate coming in or just split the teemdz going on. 50% of hong kong is doing that:35% of europe, 15% of uk. blackrock also said today they are beginning to return to office and split operations. so maybe that's what it looks like how about 2021 well, bti told me half of the staff will be remote and in work -- in it office work on a permanent basis and look what jim gorman over at morgue an stanl morgan stanley said. my long term goal is to have 50%
2:51 pm
of employees in the office not every day of the week but about 50% of employee hours work will be in the office. now this say long term idea. guys sh the key story here is technology it enables the businesses to work much more efficiently that is the key story here guys, back to you. >> what type -- technology really accelerated that trend, right? i mean that's -- that's how you really look at it. >> right and look what we're doing here i'm using these glorified ipads with a fancy lens on them and a lighting camera here to my right. this technology didn't exist five or six years ago. and this kind of thing as well as the wi fi system holding up very well is transforming the work from home business. it's really technological story as well as a health story. >> it sure is. we're all using similar equipment. some is a little more elevated than the pad caster. but as you say, it's fundamentally a souped up ipad bob pisani, have a great
2:52 pm
weekend, man >> you, too. >> usair lines are crushed by the coronavirus and the ensuing shutdown airlines are responding by cutting flights and keeping costs as low as possible up next, we talk about the airline that is taking the road less traveled. don't forget you can always watch or listen to us on the go on the cnbc app. experience the adventure of a bigger world in a highly capable lexus suv. at the golden opportunity sales event. get zero percent financing on all 2020 lexus models. experience amazing at your lexus dealer. on all 2020 lexus models. but a resilient business you cacan be ready for a digital foundation from vmware helps you redefine what's possible... now.
2:53 pm
from the hospital shifting to remote patient care in just 48 hours... to the university moving hundreds of apps quickly to the cloud... or the city government going digital to keep critical services running. you are creating the future-- on the fly. and we are helping you do it. vmware. realize what's possible.
2:54 pm
(music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries.
2:55 pm
on part of american airlines what's the thinking behind this. . >> in may, they were looking at the flights they had available and seeing, you know, demand slooking a little better and thinking that american is much more domestic u.s. focused than the competitors i think they thought with domestic travel making a comeback, states reopening, you know, there might be some pent up demand this summer. with government grants covering waiver costs, fuel costs very low, they came to the realization that, you know, when they're deciding between flying a plane which can bring in revenue and parking it, the plane didn't have to be that full for them to think it was worth flying >> you make the point that it's easier to scrap a flight than to add a flight maybe that went into the thinking of american but in terms of the cost, at
2:56 pm
this point we've already seen reservations being canceled. we've got quarantine orders in new york and new jersey for travelers coming in from spot states so how does that work out in terms of the cost to americans of having added the flights and now having to scrap it versus doing the reverse from the start? >> yeah. i think from their perspective, they felt like they could be a lot more nimble and flexible if they put out the big schedule and if things didn't work out, demand didn't materialize, you know, they could pull it back and that wouldn't be the end of the world. but, you know, some other airlines are thinking about it differently and just have said, you know, we need every dollar we can get we don't think it's going to be worth flying that much so we are going to really hunker down i think it remains to be seen, especially with the demand today looking different than it did in may when they made the plans, you know, whether this will have
2:57 pm
paid off >> they have a lot of debt, too. they have more debt than any competitors. they spent more on new planes, $23 billion than what delta ended the quarter in in debt that is just staggering to think about in that perspective. in terms of the cash burden and ability to operate, i mean, how long do they have? >> american's ceo said they raised enough money, you know, by the time they get the government loan finalized, they'll have war chest of $15 billion. when he told me when i asked is that they think even if things don't get better they can keep going on like this for, you know, into next year, maybe a year and at that point maybe raise more money but, yeah, that is sort of a big question that debt is an issue that hangs over all of their decisions and, you know, in some ways they've got very unlucky with timing and they had just finished this massive campaign to replace their fleet had taken on all the debt to do it and are -- it just came from right
2:58 pm
before this pandemic hit and changed everything >> do you think also in the thinking of the airlines is that the possibility or the option of just simply going bankrupt we've seen timent ait time and e again. they often emerge. they come out without the debt and they come out stronger than they were before whatever crisis they had just faired through >> yeah. you know, when they have been asked about it, when doug parker is asked about would you consider bankruptcy as a financial tool, he said he does not see it that way. that, you know, they think they have a debt crisis that they're facing and demand crisis he is adamant that is not something he wants to pursue. >> they have to say that, don't they >> sure. >> everybody is going to say that but the reality is what, allison? >> i think for all the airlines, it's kind of, you know, a game to hold on to as much much cash as possible and bring in as much cash as possible hold on to it and hope there is a vaccine or, you know, they can hang on until
2:59 pm
there is a recovery. >> even with the vaccine though, allison, people may not want to have the vaccine people may be skiddish about flying there is also -- there is also, of course, the economic impact on the flying public some people may not have jobs or operating with the reduced budget to fly. there is that sort of ancillary impact even if there is a vaccine, i don't know that airlines are looking at getting back to full capacity, are they >> no. i think they're thinking about this as a recovery that's going to be very uneven. it's going to come in fits and starts and play out over several years. you know, like you were saying, there will be changes to how people travel and what types of people travel. that could be, you know, long lasting into the foreseeable future. >> all right allison, great to speak with you. thank you. >> thanks so much for having me. >> and tyler, i guess it's one of the many changes. you're talking about broadcasting from home i've done that for "squawk box." certain things may not go away for a while.
3:00 pm
>> no. i think a lot of this is really with us and as we were talking about the airlines there, me list yashgs you thi melissa, you think about whether travel will come back in a strong way i haven't been on an airplane since late february and i don't anticipate that i'm going to be on one by choice any time for the remainder of this year it is really a different world and environment that we're playing in have a good weekend, melissa >> you, too. "closing bell" starts right now. welcome to "closing bell." i'm wilfred frost along with sara eisen stocks bounced around the floot li flat line. let's take a look hat what driving action netflix is down sharply. though the nasdaq and tech is outperforming today. it is reversing relative underperformance that it has suffered down 1% for the week


info Stream Only

Uploaded by TV Archive on