it is 5:00 at cnbc global headquarters 5:00 p.m. in hong kong beijing cracking down on hong kong that may crack down on that city's freedoms. we'll talk about the future of travel in the post pandemic world. the ceo of airstream will join us oil has made a remarkable bounce ceo of natural resources, our

exclusive conversation with him. plus insider buying, our friday segment. we are seeing the most bullish that we have seen in months. one company insider buy. it is not a name that we talk about. we'll name that name and 13 million reasons he is optimistic on his company's future. friday, may 22 you are watching "worldwide exchange" on cnbc. >> good morning, welcome from wherever you may be watching we made it to another friday great to have us here it seems interesting here memorial day seems early this.

stock few you ares down about 170 points seeing a little weakness here. markets seeing a relatively mild day. huge up on monday, down half on tuesday. gain some of them back for wednesday. lost it yesterday. really has been a roller coaster week that hong kong news we'll get to stocks tumbling and our futures down 170 let's get now to that news the communist party looks set to crack down on hong kong's remaining freedoms futures are down 170 points now. i believe you have eunice yoon who is ready to go is that accurate eunice, thank you for joining us we were going to have you on to talk about the nasdaq listing story which we might get through to the morning all of the world's attentions

are based in hong kong what can you tell us about these latest proposals from beijing? >> right now, the hong kong activists are already calling for protests to say that they are planning for street action into the night that could include flash mobs to voice their frustration with what was tabled here in beijing at the national people's congress, which at the end of the day is a draft that is meant to change and impose a national security law on hong kong in that draft, beijing is proposing to input mainland intelligence agencies and possibly set up bases in hong kong it is also aiming to tackle sustain session, subversion, terrorism and foreign interference to that, to the ears of many in hong kong, especially those

protesters, those descriptions target them. hong kong's chief executive carrie lam has said she is going to follow through with any proposal that might follow through from beijing as you can imagine, the fact that beijing is so directly intere interfearing, it would appear and imposing into the basic law at the same time which is meant to separate the governing of hong kong from mainland china. for beijing to do that is frightening a lot of people there for that rule of law has been breached. >> you know, the world is going to wait to see what happens with that law one of the reasons, hong kong is one of the biggest world centers in terms of dollar volume. that is why the world watched

the protests there what is the time line there? is there still time to reverse the decision or alter that bill which sent hong kong stocks down 5.5% overnight >> it seems unlikely beijing would alter any draft. this proposal was announced today at the open of the national's people's congress we are expecting there is going to be deliberation but with chinese characteristics. that means at the end of the session, a shortened session lawmakers will decide whether or not to go ahead with some of the changes that they are making in this proposal. because this is a one-party system the chances of any significant changes that would alter what beijing hopes to do with hong kong is quite unlikely

>> eunice covering the story as best you can i know it can be tough over there. have a great weekend joining us to talk about these markets is rob morgan, director of market strategy and u.s. energy advisors i tweeted out that today may be the first day we don't trade on either the pandemic, the lockdowns or federal reserves. this hong kong thing has sent stocks down. they are not tumbling, down about 170 points right now once we come out of the paea pandemic, and we will. we will still be facing a world where the cold war between u.s. and china appears to be heating up how will about impact long term strategies >> since hong kong was turned back over to china 23 years ago,

local hong kong officials have been trying to pass article 23 of their miniconstitution, which is basically a sedition act. over 23 years, locals have not been able to governor support for that finally, beijing has lost patience here and with hong kong support going to pass what is basically a sedition act how does that impact long term investing, relationship with the united states? hong kong has some -- you were talking with eunice, you mentioned that hong kong is one of the biggest financial centers in the world in fact, hong kong has the most favored trading status with the u.s. even above what china has the u.s. has some options here

how they might retaliate to this and it is related to trade ultimately, with he could see world trade suffering from that. >> you are a well-known face to cnbc but also a former naval sub officer. you have a little idea of the sense of geopolitics everything has been focused on the paendemic and the lockdown, as it should be. but if you are investing out years, the pandemic, like others, it will eventually end that doesn't free us from looking at the world po postpandemic the conflicts with china don't appear to be backing downey time soon we have to put that some what in our thinking of how to invest. >> it has to be factored in.

a continued trade war with china, which seemed to be abating earlier this year certainly brings down world gdp. at the same time, to focus in a little more about your comments there about the pandemic ending. i would certainly think we'll see a v-shaped recovery out of this the pandemic has deferred production and consumption we haven't lost it bank of america came out with a report bull markets most viewers may be surprised about this they start during recessions they may have started the next bull market when the s&p hit its lows >> the key is how much of the 26 million unemployed will be back to work in six months. whethers that 20 of the 26 or more

that will be one of the deciding factors if we go into a recession. what do you see in your economic crystal ball >> even if we do have this v-shaped recovery and b of a mentioned as well. they have said at the bottom of this is going to be worse than we thought in some ways, that sets up for comparisons going forward. if you look at company by company. companies reporting their second quarter earnings right now excuse me, they are reporting first quarter earnings right now and they are getting out all the possible bad news that can happen why are they doing that? that sets up for easier comparisons going forward. the same can be true on a macro basis on the economy as a whole. if we hit a big hole in the gdp. >> rob, sorry to jump in on you.

u.s. energy advisors great to have your global perspective as well from a couple of hundred meters under the sea from a lifetime long ago. best to you on a holiday weekend. >> you too, brian snooch when we come back here, facebook looking to overhaul work culture in the post-pandemic world a big week for retailers show casing the sector's haves and have not's one company that has the biggest insider stock buy that we have seen in months a bullish move on a name we don't talk about a lot we are just getting started he on "worldwide exchange." 5:11 on a friday we are back with more after this

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good friday morning there. we are seeing time square. we have noted we'll show it to you from time to time to see if we see a trickle back to life there. normally even at this hour, you have a lot of people coming and going. we'll watch. we'll be eye balling to see if we start to see a trickle of more people as we inch, creep, crawl to getting back to a sense of normalcy here back to top headlines outside

the world of headlines in business rahel solomon at hq. >> happy friday to you let's start with president trump offering a blunt assessment of what will happen if we see a coronavirus outbreak in the fall the president said he would not close the u.s. maintaining that the virus would be stamped out health experts said the virus will likely spread through the fall and winter and may even become more difficult to combat. a stimulus package for americans will be coming sooner rather than later saying in an interview that a plan was, quote, not too far off. cautioning that lawmakers need to focus on the impact of what they've already done weighing a new plan facebook ceo looking to make the work from home lifestyle more

permanent. zuckerberg predicted more than half employees could be working remotely within 5 to 10 years. brian, they did a survey and found half of the employees there are just as productive at home as they are in the office so i guess we'll see >> i guess we will see i think personally, not that it matters, you can be very productive >> you have been quite productive, if i say so myself >> >> i will say so too myself but i miss the team back there coming up, one of the men considered to be the top ceo in the oil patch. scott sheffield. >> announcer: today's big

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welcome back and good morning. beijing cracking down on hong kong's freedoms and new law crack down on civil protest. seeing crude oil down. looking past the pandemic and global economy if tensions continue to heat up, there are concerns that this trade war and cold war could heat up as well. overall, it has done a remarkable concern it has gone from less than zero in famous trade to $30 a barrel in less than one month you've got supply and demand. speaking with scott sheffield.

>> we are only down, believe it or not, 7,000 barrels of oil a day. we are still exporting most of our crude. the exports are continuing we have firm transportation to the gulf coast everything is being taken off shore, pretty much >> who is doing the cutting then the bigger players the exxons we know their capital spending has gone down. the rig count has gone to an all-time low where is that 1.5 million a day coming from? >> conocophillips has announced significant cuts some of the majors have announced. most of that 2 million a day is by larger players. you have to remember, we have 900,000 barrels a day of

marginal production with high operating costs in the u.s i bet most of that 900,000 was curtailed by small independence. pioneer strictly all older, vertical production with high operating costs. >> do you expect production to fall more. if you say pioneer, doing your part >> i've talked to several operators with the rise in wti and brent up, most of this production will come on in june or july. i'm worried about 3 million barrels a day, both canada and the u.s. coming back on. canadian affects us coming down the midwest or gulf coast. we'll get a rise of about 3

million barrels a day. i'm hoping that demand picks up with all 50 states coming back to at least driving once again that we'll see hopefully a nice balance. >> if i would have told you $30 a barrel oil would have been considered, quote, good. you would have told me i'm crazy. $30 is still a money loser for most out there how long will $30 oil stave off bankruptcies and consolidations, if at all? >> i think it will keep most ba companies from bankruptcy. if you remember, the texas rail commission, that kept companies from going to bankruptcies if you look at the futures curve over the next five years, which we all do, you only see $2 to $3

increase it is fairly flat. it gets up to about $37 next year we are not going to add any rigs or fry fleets. we are really going to need $45 or $50 brent before you see increased activity as a result of that, we are going to see significant drop in u.s. production going into 21. >> if we get demand creeping up at the pace it has seen, do we get to the $45,$50 level >> the fact that we get to that 8 million a day. the airlines, how fast the airlines come back i don't think that will come back to 22 at the earliest, maybe 23 unless we get a vaccine earlier but that's going to be the key. >> and that was our conversation

with pioneer resources ceo there is more to it you can see at cnbc.com later today. still ahead, questions growing around potential coronavirus vaccine. meg will be looking at the divisive approach to fast tracking efforts former vice president and presumptive democratic nominee joe biden will join us at 8:00 eastern. a reminder that we have a presidential election this year. e dewio believe. jobin th squawk and the gang at 8:00 a.m derek, seems like your team is operating just fine remotely.

yeah, everything is running smoothly with the now platform. (bling) see, incident resolved. how did you... gotta enjoy the small wins. you keep being you, derek. keep being you.

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new china fears. beijing set to crack down on hong kong's last remaining freedom to protest that is your friday set up and the moves you need to be making right now with one of america's top ranked financial advisors. in the retail wreckage, there will be winners. who will come out on top we are here to name names. >> the ceo of airstream about how we may all be vacationing this summer and how demand for

camps is red hot we are live on "worldwide exchange" here on cnbc >> welcome back. tgif i'll give you more breaking news given it is hard to believe. monday is actually a holiday i had to be reminded of that monday is memorial day we are headed into a three-day weekend not only for trading but for most of us working as well we are just about half way through this 5:00 hour today following modest losses and u.s. futures. they are down about 150 points right now. we are not seeing a huge move down unless we get a big reversal today. it will end up being a very

solid week why do we say that all the major averages coming in this morning things can change. major averages are up about 3% this week. take a look at this. small caps are looking big time right now. the s&p small cap 600 and russell 2000 have stepped up and taken some names those indices up 7% and 8% respectively in four trading days by the way, before we get the stocks to watch. you've got to watch hong kong. beijing getting close to passing a new law which would effectively crack down on some of their freedoms to gather and protest. remember all of those prodemocracy freedoms last fall we covered those could be illegal under this new law that spooked global markets. the hang seng in hong kong

falling 5.5% overnight we'll continue to watch the developments in asia specifically over hong kong. speaking to stocks here, two names. number one, palo alto networks working from home helping their sales because everyone had to beef up security on home securities they expect the shift to home work will accelerate. also, harley davidson restarting production in the united states. operations were shut down midmarch after an employee at a plant in wisconsin tested positive for the coronavirus production on its best selling bikes and it may not shift to many sellers on the year, good news that harley davidson will restart production

time for our friday exclusive on what company insiders are getting the most bullish on their own stocks the top five companies seeing insider buying we'll count them down, five to one. number five, pen national gaming number four, we just talked about it, harley davidson. another big buy from their ceo the second big insider purchase in just a month. stock three, carrier global. ticker carr. insider buying, multiple insiders buying totally $1.6 million worth of stock. number two, cortexyme, a san francisco-based biotech.

normally $2.5 million buying would have topped our list but not. check this out aon, the insurance company its long-time chairman bought 70,000 shares worth $13.6 million. one person, one buy, $13.5 million worth. that is the biggest insider purchase aon up 17% this quarter. down 7% this year. we'll see if that news moves the stock. we'll bring you this exclusive segment every friday here on "worldwide exchange. >> biggest players posting earnings this week, target, walmart, lowes, home depot a lot of us stuck at home spent a lot of money at essential stores on our home others saw revenues take a hit

due to stores being closed who will ultimately emerge as the long-term winners we are joined by dana telsi great to have you back on cnbc let's talk about tj maxx as stores fail, i would imagine that tj maxx, which buys up excess inventory will have almost a free for all in its pick for price and product >> you are exactly right thank you for having me. off prices are going to win. tjx is the biggest of them all as their stores began to reopen, they had 1,100 stores open at least a week for stores closed this amount of time and their sales are up. keep in mind a lot of the other

retailers we saw, their stores and sales that were opened were up at least 50%. up 50% of their normalized volume tjx has stores up over last year definitely something different treasure hunt and value is what tjx means. >> the one variable i guess is trying on clothes. not only is it going to be prevented for a long time in a lot of places but nobody is going to want to do that does that matter to a tjx. do we just buy it and assume it fits >> the value they provide, you will just buy it and take it home return policies will be extended if it doesn't work in those stores that have open fitting room, they are going to put merchandize on a separate rack

for 24 to 48 hours before it is put back in. in tj, you don't know what you are going to find. what you have now is mismatched merchandize where the buys are better brands and better values. don't forget with a lot of department stores closing, it continues to make more goods available to off pricers >> aside from walmart and target, what about a name like a deckers. i thought what in this environment could be good for the shoemaker. >> it is all about comfort and casual uggs, hoka which is their running shoe with their digital engagement and social media marketing, they are at the right place at the right time they have new points of

distribution dicks is seeing tough sales. their order side is flat most others order books are down to be flat is a victory. >> is there another dark horse retailer out there you've got your eye on? >> i'm watching a couple names out there. we have a ways to go in terms of earnings what you are going to see, other companies out there look at este lauder they are diversified they are shifting to specialty multi. they will benefit with product innovation when you do get to return outside to normalized socializing. it will not be about skin care but makeup also. >> yes, also about balance sheets i know estee lauder is among the

best deckers, tjx, some new names have a good weekend. >> you too thank you so much. coming up, new steps being taken to try to fast track any vaccine. meg will be with us for the questions around the people that offer up their own body to help find a cure. more after this. that's why i take osteo bi-flex, to keep me moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex. plus vitamin d for immune support. but when allergies and congestion strike, take allegra-d... a non-drowsy antihistamine plus a powerful decongestant. so you can always say "yes" to putting your true colors on display. say "yes" to allegra-d.

. welcome back the hot streak the researchers who are trying to speed up ways to the process people volunteering to get infected with the virus in the hope of fast tracking. meg tirrell with us has more >> the issue with trying to test a vaccine is you need to have active infection to determine whether a vaccine prevents people from getting the disease. often what happens is the outbreak can subside before the vaccine is ready to be tested. people developing are some of the only people that almost hope there is cases when they are

ready. the human trial that is infecting volunteers with the virus. there are pros and cons to this. on the pro side, they say this could speed up development potentially even by months they note it would be done in young, healthy, low-risk volunteers in a controlled environment. on the con side, there is risk of severe disease and even death. there is no great rescue therapy. it may not predict efficacy in more vulnerable groups there is a push of congress to do this saying they are in sort of a war-like situation. it is really a fascinating situation. a lot of sides to consider >> there certainly do we have any idea -- a lot of drug trials, they pay people

here is whatever amount of money. that industry has been under a lot of scrutiny. do we know how this would work do they put out an ad saying, hey, who wants to get injected with the coronavirus >> a lot of emphasis are involved with this they interviewed one looking at this and he noted he didn't think it would be appropriate to pay people you want people coming in with eyes wide open and you don't want people doing this for the wrong reasons. it involves a lot of consent and disclosure >> meg, we appreciate it long days but meg, we have a three-day weekend ahead well deserved see you on the other side. have a great weekend as all 50 states push in one way or another to restart

economies. it is not just restaurants or retailers finding ways to get back to business it is also manufacturers and factory workers moving ahead including jackson center, ohio based airstream that was forced to shut down new trends may force the company to kick production into high gear because demand for their product is expected to surge joining us now, bob wheeler, airstream president. thank you for joining us here on cnbc what is the state of airstream's production in ohio right now >> thanks, brian right now, we are cranking things back up as fast as we can. you mentioned a couple of months shut down, it was about six weeks for us we are seeing stronger than

anticipated demand we are hiring now to try to meet that demand. >> they are talking about the summer of staycation but may be the summer going to national parks. >> that whole theory of how people may change their travel patterns we are seeing first-time buyers come to dealerships. a lot trending to smaller motor homes that they can trail. they are easier to drive and park as you note, people are headed to the outdoors. they think the outdoors provides a great space where you can socially distance, it is healthy. in an rv, you are taking your kitchen, bed and bath. you have your own contained environment can you feel safe in no matter where you go >> research firm posting that

google trend shows the search for rv sales and rentals is up more than 770% let's be clear, your products are top of the line. you've got your classic trailer, the atlas rvs which are $200,000 plus what kind of demand are you seeing in the high end and lower end of your product range? >> great question. the buyers coming to buy airstream are typically pretty well off financially they've taken a big hit in the stock market but a lot of that is recovered for taking on a new lifestyle, they don't seem to mind to spend the money. in the industry, there is a broad range of products from very expensive to expensive. for most buyers, there is

something that meets their need or budget. >> what does the financing look like on a $200,000 trailer >> because the rv counts as a second home, it is a 15-year finance. >> i didn't know that. these days it might count as a second home. some of the mercedes vans, the atlas and others, people don't realize how you stuff a bathroom, sofa, tv and a wine cellar in a 20-foot long truck >> don't forget the shauna or hot tub. we find in a fully functioning

rv, you can live a wonderful life and have a great vacation we have a lot of people that full time in these things. if anyone can do that, you can certainly figure out how to take a couple of weeks of vacation. >> outside of the pandemic and lockdowns, what about the supply chains were you able to source your parts? what are you looking at? there will be a time when the pandemic is over and we have to deal with the supply issues in a world that may be heating up there is a concern this was a supply issue we have suppliers that source things from overseas we are suffering from some of that right now a matter of working with suppliers as close as we can forecasting demand to understand needs. we can shift to domestic

sourcing we have been doing that forever. now there is an extra move to do that with the coronavirus supply chain production >> you are looking to move some of that back to either the united states or at least north america, if possible >> very much so. we've always tried do that and now there is extra incentive to make that happen >> bob wheeler, ceo. we are showing some of the beauty shots inside. even the bambi has everything you need best of you. thank you for coming on cnbc coming up, steep market reversal what do i do now with my money don't worry. we've got answers. one of the top advisors in america is up next with real world and dare i say free advice

for you. dow futures down just over 100 we are back after this massmutual healthbridge is a free life insurance program just for healthcare workers fighting covid-19. learn more at massmutual.com/healthbridge ♪

welcome back stock futures are lower primarily on increased tensions and concerns in hong kong. despite what happens today, overall, it has been a solid week for the stock market. on pace to gain 3% or 4% again whether or not we lose much today we are having a nice week. look at small caps russell 2000 up about 7% small cap 600 up as well over the violent track the stock market has had, ron vinder joining us

one of barron's top ranked wealth advisors. stocks took a huge hit in march. a lot of people got spooked and probably sold at the wrong time. they may have missed this rally. what is the basic response to your clients about what to do in the equity market now? >> thank you for having me it is important to have liquid assets investo investors should use those gains. if you thought about selling in march, you probably had too much of your money in the market. we are all built with human emotions which are contrary to vesting. everyone knows you want to buy low and sell high.

you should stick to targets and allow market moves to determine if you are buying or selling if you have a sound financial plan determined by your risk and that calls for you to have 50% of your assets in the market and the market goes down and say you are at 45%, you will be forced to buy if the market goes up and your allocation goes to, say, 45%, you will be selling. these markets are highly unpredictable. no one knows when we'll be allowed out. it is important to have an allocation target and stick to it no matter what you think may or may not happen. >> do you think an economy with 36 million unemployed, we have no idea what will happen companies withdrawing their guidance is that an economy that

justifies he c justifies equity up a couple of percent. >> caller: you would have thought at the beginning of the year that market would only be down this with the pandemic and the unemployment, you would never be able to predict investors should not try to predict and just stick to a game plan it is important you have a sound financial plan and stick to that rather than trying to make these predictions because it is so unpredictable. >> it is i guess everybody is trying to play a doctor on tv these days and talk about second waves and vaccines but we don't know what is going to happen in the fall whether we do or do not have some kind of second wave and lockdown is there some easy way to protect your portfolio are you buying longer puts, advising people to buy gold? >> there is many different ways

to health. i gauge is based on actions in march. for clients calling me up. i advise them to stick to the plan and don't let your emotions make these decisions now i'm going back to say, okay, we had too much money in the market let's lookat what we can do to lighten up allocations and see what that does on a tax basis. there are different hedges can you put on which don't trigger these taxable gains. >> like what what is an easy way to do it >> it is tough to say. everybody is different in their specific allocations are all different. it is hard to say to the average viewer this is what you should do all i would say is you should have a financial advisor and

determine what is the best course of action you should take >> we appreciate having a financial advisor top ranked on our program. ron, thank you for coming on take care. folks have a great day happy idfray three-day weekend ahead. squawk and the gang picking up the coverage take care. you say that customers make their own rules. let's talk data. only xfinity mobile lets you switch up your wireless data whenever. i accept! 5g - everybody's talking about it. how do i get it? everyone gets 5g with our new data options at no extra cost. that's good.

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good morning, stocks in hong kong plunging overnight. president trump says he won't close the country if a second wave of the coronavirus hits in the fall his comments are straight ahead. plus reopening america we have the ceo of a group of

mall retailers and major casino operator we have some other guests. it is a day that andrew really can tell you is huge on "squawk box. friday, may 22, 2020 our show begins right now. good morning, everybody. happy friday welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin. u.s. equity futures -- what are you doing? >> andrew is right this is a big, big show today. you have every right to promote this today i'm going to sit back and just nod and say you are absolutely right andrew ross sorkin no one knows what i'm talking about. >> keep that for the rec