affo address the affordability crisis and now they're just going to go if we haven'tsoevered that problem by now >> now it's too late thanks so much for your time today. >> thanks for having me. >> you're welcome. >> that does it for the exchange i'll see you over on power lunch with tyler and melissa thank you very much. glen always leaves you with a smile on his face and yours. welcome everybody to power lunch. welcome back to the kitchen. good to have you in today. markets in rally mode on hopes of the economic reopening. fil filtering in but gliding toward those fears of unrest that glen talked about all around the country. the s&p up a staggering 40%. yes, 40% from the march lows cities implementing early curfews. we'll talk with the mayor of cincinnati, ohio about how protests are impacting the reopening process in his city

plus the billionaire tilman closing more than 70 restaurants that had just reopened because of the unrest in various urban areas. he will join us later and we'll tau talk to a ceo who just pulled the plug on a big money deal with facebook. this has mark zuckerberg starts an all hands meeting with his employees. power lunch begins right now >> thanks. the s&p 500 is on track for its third day in a row of gains despite everything going on in the country and the nasdaq is sitting 3% from record highs let's get to bob for more on those markets. bob. >> for once, nasdaq is not necessarily the market leader. what we're seeing today is energy, industrial stocks leading. bank stocks leading. it's the reopening story and broadening story this is remarkable it's been going on for three weeks. s&p keeps going up but the

leadership has been altered in the last few weeks in favor of those reopening names. i want to show you the megacaps because we start with them they have fwn driver of much of the rally in about two weeks ago but not so much today and in several days we haven't seen megacaps be big market movers. kooer g we're getting things like banks and industrials. wells fargo is having a good day. hon hthere's your banks and industrials. stocks that were out of favor a short while ago doing well retailers doing well i get a lot of comments asking me about the retail rally we have been seeing the stocks are off of their lows gap, following the accident, with $6 a month ago. now it's $10 it was $20 in february macy's was $5 a month ago. now it's a $6 a stock but it was $20 in february, again don't kid yourself yes, these stocks are off their

lows i wouldn't call this exactly a retail rally i would say the global markets have all been lifting in unison in the last month. if you take a look here, china is at a ten-week high. japan is at a 12-week high everything is back to where it was as things started rapidly deteriorating in the early part of march it's going to be tough to get over these numbers because we were highing in the first week of march but you get the idea. this is, i would call it a u shape recovery in the major indices on the global level and maybe a v shape so far we'll see if that holds. back to you. >> thanks very much. what is driving this comeback rally and with so many unknowns about how the recovery will look, just how dangerous is the disconnect with markets. mike ryan is with ubs global management mike, i'll start with you. now that we've had so much of a recovery off the lows to almost

going back to the highs, what are your thoughts on the market? >> first of all, let's be -- i think the rally or bounce back has been impressive and surprising because think about just since march, we're up 35 and 40% in the s&p 500 i think the driving force is this is massive policy response. this is the most massive government resource response we have seen and probably on the peacetime, the biggest peacetime effort we have ever seen a lot of this just we have seen a massive amount of stimulus both monetary policy and fiscal policy put in place. what is happening is people are looking beyond a cyclical down side and looking toward 2021 and 2022 >> you're getting more cyclical. we'll come back to that in a moment would you credit the policy response for getting us kind of back on track here or is there a

hangover to come >> i think the policy response is a piece of it we can't be dismissive of the force when the fed comes out and says they'll do whatever it takes to support market participants i would add we have known for a while, they do not map one for one. even if you just think about the sectors most impacted by covid, most impacted by social distancing, everything we enjoy in life. retail, hospitality, leisure, cruise, all that stuff that's a massive piece of consumption also about 20% and you map it to the equity market it's only about 7% of operating earnings policy response, also the mapping implies a wedge between the economy and the equity market >> would you also be getting more cyclical? >> it makes sense given what's happening and the reopening.

we're taking a bit of a different approach i think we're still thinking quality and quality in my mind is interesting because i would not want to access it as a factor in particular or a screen i would want toyota be good management, good cash flow, good revenues all of that stuff that gets you through a verecession and you c find quality names in every single sector. i don't know if that's a cop out but that's our view. >> it's not a cop out. it's hard to do. going through company by company and figuring out if you can trust management and willing to pay up for the quality is probably very difficult question >> i think it's fair question. one of the things we face now is we're entering a period in kind of picking up on some marks, we're living through probably some of the most significant trends we have seen on terms of the economy. not only the u.s. economy but the global economy those companies that are well managed, have strong balance sheet, those are the companies

that will recover faster and be able to stay in their business through this transitory period and those are the ones that will emerge the winners they cut across industries i do think it does require where we have seen the leaders so far. i think there is a cyclical element. it's been the large cap players, largely been in the lead here and you have seen some of the more cyclical sectors have trailed here we can have a bit more cyclical exposure yet still maintain that quality bias >> mike, thank you so much appreciate it. tyler. all right. thank you very much. protests demanding justice for george floyd and victims like him continue to rage in cities across america in cincinnati, about 40 to 50 arrests were made last night that follows a staggering 300 arrests the day before

the city expanded its curfew to start at 8:00 p.m. the mayor is saying this is serious. if you want to avoid a really uncomfortable night at the justice center then obey the cu curfew with us is cincinnati's mayor. welcome the good to see you. what was cincinnati like last night? >> thank you it's good to be with you overall last night was good. we had widespread compliance with the curfew. with went from 300 arrests to 50 last night sunday night things were dicy and going late until about 1:00 in the morning last night things were really wound down by 10:00. it seems to be getting better but, you know, we're praying for peace and we're also continuing to facilitate and support the --

understandable and righteous indignation about what happened in minneapolis and in other parts of our country, including our own, historically. >> we wish you continued good luck with your efforts as we look at some video whether it was from last night or the night before, i'm not sure, how much property damage had businesses in your town suffered and what are they telling you as they begin to try and reopen this must feel to many of those business owners like the gut punch they needed the least. >> that's exactly right. they already suffered for months under the shutdown of the coronavirus by our federal government and state government. they were desperately want to be open and stay open the pictures that you saw of the broken window that was of the justice center of hamilton

county on saturday morning i was able to walk to many of the businesses that were hit on friday night and everybody was cleaning up and was resilient and wefr had a tremendous renaissance at our downtown and they all want to go back to business on sunday, despite what happened on friday night, on sunday there were families and people all over our urban parks and places that literally were the site of the protest were vibrant on sunday afternoon frankly, those businesses have asked me to extend the curfew as long as necessary to make sure that the issues are resolved peacefully what they don't want have to have a false opening and then have a backslide on any late night looting. they have been very supportive of the curfews

of course they want them to end but only end when they don't believer their properties will be at significant risk of additional looting >> i should point out my producers told me the video we showed there a moment ago was from sunday night, which he said was a very different sort of feel from last night where things settled down. we just had a guest in the last hour talk about housing and real estate and the eagerness or willingness of individuals to live in urban centers. part of that fed by fear of coronavirus and now part of it fed by fear of what's been happening in many, many cities around the country, civil unrest and violence talk to me a bit about that and whether in sincincinnati which couldn't be more heart land, a city as anywhere in the country, whether you are concerned that people will flee the inner urban

core for the suburbs or because now they have learned how to work at home now they are afraid to go out. things that appeal to them about the urban centers maybe don't as much anymore >> i don't think that's going to happen i remember after september 11th, there was a similar fear related to new york city based on tall buildings being hit by airplanes. i was a city councilman at the time and we were all afraid it would signal the end of urban life in addition, ironically many the same year 2001, we had our own police misconduct issues around in custody deaths that led to several days of unrest since that has done a good job, our police have done a tremendous job protecting people's right to protest until

the moment which they become violent, because of our experiences but since that time both new york came back and cincinnati after 70 years of population decline is rising again. i think if you understand the literature about the entrepreneurial economy that is global urbanization is increasing there's a lot of literature out there about the need for there to be proximity among the creative class, the thinking class who are womani incoming uh some of the new business innovations. even those that could be done from home are more productive when theirs shared space >> mayor, thank you. very thoughtful answer i appreciate it and we wish you peace. >> thanks. coming up, with tensions running high, mental health app

space is giving up a six figure deal with facebook ceo joins us with more on that move, next stocks are giving upmost of their early morning rally but energy and materials are up 2% while the tech stocks lag. we'll have more on these moves tethis ♪ ♪ ♪ ♪

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meeting for virtual employees. yesterday employees staged a virtual walk out with some speaking out against the handling of president trump's controversial post on the platform talk space, a company that provides online therapy pulled out after is six-figure partnership with facebook saying it will not support a platform that supports lies and violence. what was this going to involve >> the partnership was to include facebook underwriting free therapy for some coherts of audiences they they chose and content that would be shared from the side in order to help facebook users deal with their mental health issues >> you have pulled out of this deal does that procollude ylude you s with facebook in the future and what to your employees, your colleagues think about this? >> we pulled out of the deal

mostly because we thought that fa facebook had the moral imperative is do no harm and we're a mental health company and social media in general and facebook is harmful to our mental health. when we work with facebook in the future of course. we have nothing about the people of facebook. we have a lot against the policies they have chosen not withdrawing, not explaining some of the things of donald trump. that's crossed a clear line in our understanding. if they change their policies, we would love to work with them. >> facebook will do more to police political speak then you would comfortable restarting the partnership. >> i don't think it's about policing and political speech.

it's not politics. it's just basic human decency and protecting the users from harm, from violence and from lies facebook is the largest media company on the plan et ceteret he has no fact checking. it claims no control over the content of what they publish i think actually, funny enough i think trump's attempt to remove section 230 is helpful i think facebook should be responsible. facebook cannot say president trump said at the time, i take no responsibility because people are being hurt they can be hurt physically because of violence. they can be hurt mentally. it's the same thing. they should change that. they have been shown the way by another company which i'm not a huge fan of as well, called twitter. they did the right thing

very late. i'm not sure enough but they did it sdplp you've been a critic of social media companies in general. you run a mental health app. it must come up all the time in terms of the affect it's having on people. i'm curious would you take a stance against social media companies in general >> personally, i do object to the way they are going to market today because i think those are addiction and advertising machines more than anything else they know the addictive nature of their services and they are extremely aware of the damages as we saw last week where information came out of facebook made it clear they are aware of the tendency of the other items to drive more divisiveness i'm going back to the very

strange point, which is do no harm they know this they choose to do nothing, facebook that's a very wrong decision can it be fixed? of course. it's a question of where >> all right thanks for joining us today to explain the move >> thank you for having me tyler. >> thank you still ahead, tilman will be with us he's been forced to close 70 restaurants in various areas around the country after he reopened them. closing them because of the protests in a number of cities we'll hear from him about the path forward one of the hottest stocks this year, zoom, up nearly 200% in 2020 getting set to report earnings after the bell the traders will tell us if this baby has more room to run. reow tyo aerhis.

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welcome back watching shares of zoom video gain ahead of its earnings report at the bell take a look at a longer term chart. it's up 475% since its april 2019 ipo should you buy, sell or hold the stock. l let's bring in the trading nation team. todd, when you look at the stock, do you think it can grow into its valuation >> we do we like it we hold it in our growth portfolio. the recent are turmoil amplifies the lockdown and should further accelerate the adoption of online meetings. look at the chart.

if you look at the lower panel for the momentum is slowing. on the upper part, the price it continues to move up this is a very bullish consolidation pattern. it's broken higher here having earnings i think just quickly after this, following the pandemic, a lot of industries will change the potential applications are enormous for zoom. stay at home employees, retail shops, real estate, home, online education. the list goes on there's been some security missteps they have addressed it and we continue to remain bullish >> okay. there's a lot of opportunities what are some of the biggest risks facing a company like zoom >> i agree with todd they made a name for themselves during the pandemic. thaifr chan they've changed the way we work from home. the biggest risks are susta sustainability and security. how and will they turn these participants into paying customers along side trying to

make sure the customers are secure and the networks are secure i think they have market share right now, unlike any other. it's a massive opportunity for the company. we believe they can get it down know if they don't get it done now, look out on the other side of it this will drive revenue. it will drive growth it will drive profitability and assuming they get the security side of it right, the opportunity is endless for them at this point especially for the foreseeable future >> all right thank you for joining us head to our website or follow us on twitter back to you. you can never have too much trading nation retail stores and restaurants in new york city have been damaged and looted similar stories across the country. just as these businesses were trying to recover from the covid-19 shutdown. it's trareally tragic. all that and more when power

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welcome back here is your cnbc news update. the mayor of st. louis has ordered a curfew following the shooting of four police officers overnight. people will have to be off streets from 9:00 p.m. until 6:00 a.m. local time in louisville security camera video shows a man fatally shot while police and national guard were enforcing a curfew fired his gun as officers enforced his business. the police chief was fired after the mayor learned the officers did not activate their body cameras during the incident.

north carolina governor says shay should limit attendance at the republican convention. the republican national committee says it will begin visiting other cities that have shown interest in hosting the convention you are up to date that's the news update back to you. >> thanks so much. let's check on the markets where the dow is up more than 200 points at the highs. hanging onto a 115-point gain. it's the out performer of the major three aver rajs. the nasdaq is barely positive. it's up eight points the russell 2000 is rallying it's helping the leadership of energy, financials, materials. the find of things russell is geared more toward take a look at some of the names hitting record highs today they lows lowe's paypal and charter communications let's get over to dom with more

at the commodity desk. >> u.s. benchmark west texas intermediate $36.79. that's nearly 4% gains brent crude oil, $39 we have hit the high e levels since around early to mid march before much of the widespread shut doumpb the u.s. economy due to the covid-19 pandemic oil cartel opec and russia known as opec plus are slated to hold a virtual meeting on june 4th to discuss whether or not to extend skur current production cuts. they have put the spider energy etf on pace to have its best quarter on record all beit off very depressed levels. back over to you >> all right thank you very much. as the country continues to reopen in the wake of the pandemic around the country and the world, businesses are being

impacted by the protests and disturbances across the united states tilman owns more than 600 restaurants. roughly half his restaurants have reopened as well as a couple of casinos and hotels over the weekend he was forced to shut about 70 properties. this video shows a restaurant in atlanta being vandalized one of his and looted during the protests welcome back we want to get your take on the reopening but we want to touch on a couple areas of interest, yours. that is beyond your businesses, you are on head of the board of regents of the university of houston which has a very diverse and large student body and you're chairman of the houston police foundation. i want to get your initial thoughts we all recognize that police officers have a very dangerous job to do. they go into dangerous situations so people like you and i don't have to. on the other side, there are

communities where there are severe deficits of opportunity, of fairness, of capital and sometimes things go awry what is your general reaction to what you've seen across america this past week and weekend >> well, first off, i go back to what happened to eric gardener in new york which is a second home to me and of course george floyd, who is from houston, texas. it's inexcusable for two men to die like that who did not appear to be putting up a fight i totally agree and i understand the protests and the injustice out there. it's really a shame that because of a few bad people that the distraction of protesting for the inequality that we have to watch everything else.

we know this, there's bad journalis journalists. there's bad ceos there's a few bad cops and a few bad protesters it's so disappointing because i love that the protesting that's what makes america great. remember, we got in trouble, my team, earlier in the year because we commented about something which was such a disappointment because that's what makes america great and i just hate that we have to see the coverage of a few negative things when it's such a great issue to be protesting about >> your organization is no stranger to this kind of controversy. when you speak up and you speak out, you sometimes stick your neck out and you can have a reaction do you think that the nba owners, as a group, have said enough, done enough, as you just said, to speak to these issues

of grave importance and deep sensitivities in urban communities around the country >> i believe they have i know how the nba feels we have been supportive of this from the very beginning from the other issues we have the bigger issue, and you brought up that i'm chairman of the board of regents of the university of houston which is a very diverse university and every year i watch and give diplomas to thousands of students and people of color that want to be entrepreneurs and that's what makes america great. let's get back to the ppe that there's still like 150 million left i think all the small companies that wanted it, have gotten it i would love to see that money converted for entrepreneurship

for young minorities out there who had enough drive to go out and get a college degree and now, if you want to get into a american capitalism, let's use that money on you. you put in a little money and let us, our united states government, help you to enjoy the capitalism of america that so many people have enjoyed but so many people didn't get the chance to enjoy like so many of us >> whatever, it's a lot of money and it could be -- let's turn back to the -- >> it's 120 billion. it's a billion >> that's what i thought that's what i thought. let's turn back to the question of reopening your businesses how many -- you had the close

several over the weekend how many ofyour locations were victimized, vandalized, looted over the weekend or this week? >> well, let's get back to the specifics of the reopening the casinos have opened up, two of them. they're doing well 83 were closed because of the protests and riots a half a dozen have been vandalized it's really disappointing because where the protests are happening is in the urban areas where a lot of the restaurants and retail were just now opening up again literally in the last seven days since we have talked to each other, since last tuesday and as soon as this has happened, here we go again.

i think it's going to set us back weeks now it's really a disappointment as people were just starting to go out again and last night in houston where we haven't haed a lot of problems, the roads were decemb desolate last night which was really a shame >> that's something i'd love to explo explore. i talked to the mayor of cincinnati i asked are you worried that on top of the coronavirus and now civil unrest in in area, including his city of cincinnati and to some degree in houston though it's been relatively peacefully handled there how worried are you that your locations in urban cores in the downtown areas, you're a big restauranteur of dine in places in new york city that those locations are going to be jeopardized. are they going to come back? is it going to be a slow

resurgence or what what's going to happen the suburb is a different matter those urban center restaurants, you worried? >> this goes all back to the stock market and the stock market used to look out at this time of year whn you get into the summer they are really looking at 21s earnings. i hop they are looking at '22 and '23 earnings because it isn't going to be '21 earnings for probably 80% of the s&p 500 earnings and probably everybody else that's public it's going to be a long time for new york and the big cities to come back because new york city is the greatest city in world for tourism and shopping and the business traveler and conventions and groups it's not there it's not coming back the rest of this year and it's not all coming back in '21 it is going to be hard haul for

all of us and this is just another set back and it's really a shame because it just a few bad apples but the reason these protests are great, i've been in new york in my restaurants when there were protests for other things and other issues like this but you didn't have the bad apples out there trying to cause the issues >> people need people. people want people people want to socialize they want to go out but i'm with you on this. i think it's going to take some time as i mentioned yesterday and i remember 1968 in any hometown of washington, d.c. and the damage that was done there when the protests after dr. king was murdered were very big and very deep it took many, many years for the urban core of washington, d.c. to come back it did.

let's turn to nba. my son is still waiting. he wants to know when things are going to get started here. what can you tell us is there a day where the owners will come together and hopefully reach agreement with the nba players association and really begin to get back to work? >> we all wapts this to happen you're not going to have an issue there. you know, we're going to play basketball at the end of july. i think that's -- everybody knows that it's out there it's going to happen is it going to be 16 teams or 30 teams or 22 teams, which we have

a discussion tomorrow or friday to discuss all of this and come to the final conclusion of exactly wa we're going to do there's going to people that feel like it's tradition and all 30 teams should show up. where does the number 22 come from except there's some time of a plan i think that we're all going to come to terms in the next couple of days. i know all players around the league are getting in shape and i think we're going to have some great nba basketball this summer which we're all going to truly enjoy watching live sports on tv >> kelly here. one question related to that do you want people in the houston rockets organization generally to speak out on political matters or not james dolan was criticized for

saying don't wade into this one. what's your philosophy do you want people to speak up or prefer they avoid politics especially if it seems like they are speaking on behalf of the organization >> first off, speaking of an issue in america and speaking up on an issue that is somewhere else in the world are two different matters. in america, we have free speech and we can do whatever we want to do and say whatever we want and not be penalized because of it that's why we all love this country so much. 100%, i believe that you should not be a political organization because we have 60,000 employees and 100 million customers and we don't always agree it's usually 50% one way and 50% this way when it comes to an issue like this in america, you sure should speak out and say exactly what you want i encourage all my employees

from my basketball team to my restaurants, to my hotels to my casinos to speak out on this issue and let's make this world better and this country better that we live in that's been great for so many of us. >> thank you we thank you for coming back we hope to make it a regular appearance we really appreciate it. continued good fortune to you. thank you. tomorrow on squawk box, the los angeles clippers ordinary reason and former microsoft ceo steve ballmer will weigh in on the economic crisis and the unrest in america. that's at 8:00 a.m. eastern time in that 8:00 a.m. hour kelly. stocks are continuing to shake off the unrest we're seeing in the streets. the nasdaq just 3% from its 'ltard high. wel lk about what you can buy in the market to catch this rally right after this

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hey, thanks for listening to all of this. you're one of the few people who treat me you know like a person. you're welcome. welcome back time for our power movers. we begin with rh several brokerages raising their price targets. jpmorgan doubling its target to $270 a share the shares are climbing tlouts the session. they are up 16%. western union rising as this reportedly seeks to buy moneygram. this would be a big one. western union saying it saw a rebound in transactions in may in person to person transfers. potential target in western union shares are up more than 11% today. we end with sl green focussed in manhattan. it said 90% of office clients paid rent in may but only

slightly more than its real half did. tyler. thank you. up next, we're going to get a live report from washington as another day and night of protests is expected in the capital city stay with us for that.

protests this washington, d.c., turned briefly violent last night after protestors were cleared from the street to make room for the president's visit to st. john's church across the square for a photo op. let's go live to garrett in washington garrett. >> yeah, that's right. it was about 6:30 yesterday afternoon, fully a half hour before the curfew was set to go in place when federal law enforcement official frs the park police, the secret service and national guard cleared protestors down this same street i'm on now using flash bangs, tear gas, mounted officers really was a stunning cap to what had been a day of entirely peaceful protests here outside the white house. just for context, i want to show you where i am, where these protests have occurred this is the park that's the white house in the

distance about 150 yards across the park and this is a newly installed nine foot tall fence meant to protected it today as we enter a fourth full day of protests. i'm looking at probably a few hundred folks who have come out today for what has been an entirely peaceful administration ch now not just about the killing of george floyd, but about the response from this white house to it. >> so that fence, i grew up in d.c. i know exactly where you're standing that was not there yesterday, was it >> correct it was installed last night after protestors were cleared out. the last couple of days, they've installed bike racks and pushing people further away. the additional fencing came in last night after dark. >> very interesting. thank you very much reporti ini from the church the president

visited. coming up, we are going live to the floor of the new york stock exchange and i haven't been able to say that in a while. steve grasso is back to work down there we'll get his picks and don't forget you can watch or listen to us. there he is. wearing his mask you can watch or listen live or on the go on the cnbc appment we'll be right back. - [narrator] at southern new hampshire university,

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stocks are off their highs of session but the market continued to mount a hunl comeback the s&p is up more than 40% and the nasdaq is less than 3% if you've missed the rally, what names can you still buy? steve, that means he works on the floor of the new york stock exchange returned there on friday before we get into your thoughts on the market, what's it like down there >> little surreal, kelly nothing different than what you're doing through in your regular world. this whole situation has become surreal and to i've been on the

floor since 1993 i've never been off the floor for this extended period of time so to come back and to come back like this is something that i would have, you know i went through every type of crisis that we've had since '93 on the floor. i went through hurricane sandy the financial crisis this is obviously something y unique to itself and different than anything we ever thought we would experience so survreal in a word totally get it let's talk about what i think are some of your surreal stock pick ideas you're wading into the travel sector totally understand why. there's not a lot of places to go right now if you're trying to look at you know places that still haven't rallied, but would you feel comfortable putting the grasso money into something like that >> so let's look at it this way. i to own airlines. i do own spirit airlines and the ticker symbol is save on that. if you remember, you and i spoke

on may 4th and why is that significant? warren buffett, that was his doomsday for his sell side for all the major airlines so to wade in the waters where he was leaving was probably a little risky all of those names from that may 4th date are up between 30 and 60%. sfl. >> wow >> so that's huge and what does that tell you? it tells you positioning so when you look at expedia, a marriott these vacation names, everyone was so lopsided and they thought travel was never coming back we know that travel will eventually come back this, too, shall pass. so the way i look at it is this is an option on there being no vaccine. if you had an option on there being no vaccine, every day that passes, that is decaying that means that vacation name, airline names, the market in

general is screaming higher because every day that passes, we're a day close to this being over so when we talk about vacation names, you have to look at where they came from how much they bounced already and how much you think is still left in the tank and in these tanks, there's probably still between 20, 25% and in save, there's probably another 50% or 100% left in the balance people are getting back on planes they feel safer or they will feel safer, and they're going to hotels they will go to hotels this is not armageddon this is not the end of the world. things are return and these stocks will show you that. >> taking the other side of the buffett train and enjoy you for the timing steve, thanks so much. good to see you down there feels a little bit more normal appreciate what do you think, ty? >> it really has been.

it's been a long time since we've had anything coming out of the new york stock exchange. tell grasso he looks even better with a mask on he looks really, really good with the full face covering. the market has really been quite amazing and so we can feel like at least good about that >> and there's the nasdaq now up about 20 points. thanks for watching "power lunch," everybody. "close iing bell" starts now >> thank you and welcome, everyone stocks higher following yesterday's gains at the highs of the session, we were up more than 200 points on the dow let's look at what's driving the anchor the value trade is continuing today as energy and materials are leading the s&p 500 higher and big tech takes a bit of a broeter. the reopening recovery as visa says they've seen a recovery in payments volume in may and we're seeing retail stocks move higher on the back of that and of course another day of civil unrest and clashes wit