it is 5:00 at cnbc despite curfews, protesters again taking to the streets from new york to l.a. wall street continues to look ahead. trying to cap a third day of gains up 30% from the march low. >> the jobs report out one indicator says the worst may be over. zooming ahead. stay-at-home stock hovering near all-time highs will car sales come in stronger

than many expect we've got an exclusive with volvo ceo. it is june 3 here on "worldwide exchange" on cnbc. >> good morning. welcome from wherever you may be watching thank you for starting orphanishing your day with us. economic optimism is in the driver's seat now to kick off this wednesday much the market is doing what they do. they look months down the road and seeing better things ahead economically and socially. stock futures up dow futures up 145 major averages are up near 40%, the s&p up 30% nasdaq up 40% at its highest

level since january. as far as driving and extending the output cut brent crude over 40 for the first time in more than 90 days a similar story around the world. stocks are higher in every asian market china, hong kong also higher look at the european markets germany continuing the german dax index is up 12% in a month you can complain all you want about what is going on in the

united states, global markets are acting the same way. let's get more now on the protests around the country. rahel solomon has those. >> good morning. from new york to atlanta and los angeles, demonstrators defied curfews to protest issues surrounding the death of george flood. the department of defense has moved about 1,600 active members to support operations. the white house pledges to use more military force. coming as infection disease expert expresses concern about possible outbreaks >> i am concerned that social disruptions in the form of rioting will have a negative

impact that might lead to an increase, up tick and resurgence of infections. china owned gaming company play tica demonstrating how some chinese-owned companies are continuing to pursue u.s. listings this month making it harder for chinese companies to list state side we could see the ipo come later this year or early next year back to you. >> thank you rahel the markets haven't flinched much if at all even with a global pandemic. renewed stand off between united states and china and the civil unrest the nasdaq closed at highest

level yesterday since february 21 now up 2% from the all-time high investor sentiment has a lot to do with ones own perspective >> thank you i get your point we all know from london to new york and other cities. we know people who have not been outside barely in 90 days and we probably know people that say, i don't know nib who has got it, this isn't much to woiry about some will say, this is insane, how can markets go up higher what is your perspective >> you are right. >> it does depend on where you are. this will be griffin by your own

behavior and response. if you are in a place that's been ravaged by covid-19, you are less optimistic. if you are in a part of the country that hasn't been as touched, you are itching and you think that this market recovery has got legs when we look outside our window at the moment, it seems incredible to think there is so much going on in the background the markets don't necessarily take notice of that. there has been news coming through with regards to reopening and stimulus and with regard to the central bank stimulus >> it seems impossible to believe for many of our audience

who have been glued to our video screens that it seems impossible that people are going out to eat, are in their homes and buying cars. we had a home builder on yesterday who said their may numbers were above those of may of last year when by the way, we didn't have pandemics or these kind of protests >> right and that kind of news is astonishing. it is being driven by a number of places that haven't been hit badly by the virus in new york or london, this is a pressing matter. you are unlikely to go out and buy cars we have service in the uk and parts of the u.s. willing to go

back to the shopping habits. also about the household finances unemployment has shot up people have to be aware where they are spending their money. q 3, we could see a rebound. when you are starting from such a low base, we should anticipate such low numbers that is the concern for the country. >> seema, i love it. the most british thing ever. a pressing matter. i agree with you we have people in new york who will tweet us, dude, the world is ending. and then somebody in tampa, florida who will say i'm out having drinks with my friends, everything is fine with that in mind.

when you look at the two perspectives, who is right >> somewhere in the middle we do think there is a recovery in play. the way you have to invest the money is, one, the way you are invested if you had missed out on the bottom level, you would have missed out on 10 years of incredible gains we still like the high quality areas. we still like technology people will still be reliant on these forces if there is a recovery in play, be discreet. there is active management that comes into play.

>> in a year where we are being optimistic many think it will be a difficult road >> absolutely. next year will be a tough one. >> seema, great perspective there, which is the markets being defined by maybe our own view point best to you and your friends thank you. a closer look at retail as it picks up the pieces from the pandemic and the protests. plus, why the worst may be over for lyft as its stock surges later on, a "worldwide exchange" exclusive. the ceo from the global car group on the global car industry, the pandemic and getting south carolina back to work dow futures up 140 we are back after this

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good morning it is 5:13 on a wednesday morning. it never ceases to amaze someone. looking at these shots of time square even at 5:15 on a normal day just three months ago, that area would be teaming with people walking to work delivery trucks.

now we see two cars. that is good morning america studios on the right nasdaq just off the screen on the bottom right protests in the wake of the death of george floyd this week have up ended businesses big and small. many businesses forced to lockdown again adding more stress to an already stressed out situation. not just to the stores and business owners but those that run and own the malls that house them one of those is nest that managed nearly 60,000 retail locations featuring chains like target, rite aid and more. joining us, ceo of nest. difficult days for you and your team how many of your properties have

been directly impacted not just by the pandemic because that is probably 100% but by the protests and looting >> pandemic-wise, 90% of our locations closed their doors riots, we have received 225 board ups. dipped into armed guard requests and that does not include store closings as well >> how many of those are shut down for the long haul or a couple of days of boarding up but you believe are damaged and can reopen >> that's the next question. we've seen everything from board ups. and when the can be reopened next is for the markets seeming

to be calmed down. we are going in to assess and seeing a pretty bad loss which is unfortunate with these stores fieblly getting back to reopening. we saw thriving memorial day weekend we saw sales increase like they never imagined a couple of days later, we were forced to board these up and shut them down so employees could be safe. >> that is a fascinating perspective. there have been positive data points we tried to show many they said you are pollyanna. you were showing indications of very strong pent up consumer

demand >> without a doubt every one of the contacts i spoke to retail or not said the same thing no one was spending anything there was no way to spend anything except on essentials. people like to shop. there has to be consumer confidence no doubt that's what the retailers had been working on while they were shut down. making sure sneeze guards were in place, social distancing there. party city who is one of our customers. all about being innovative they've opened about 500 stores. the remainor are curb side or delivery that's the kind of stuff that will get retail rebounding if you don't feel comfortable walking to a store, look for a store that is open

>> that is good news before all this happened. things you don't know the answer to is that people have to feel safe as of a week ago, they had to feel safe from the pandemic and now they have to worry about getting involved in the protesting in addition to the pandemic are we able to keep people safe? >> i think so. it is up to us as a whole to do our part obviously, we want to see the riots stop from our seat, we are doing everything in our power to see consumers feel comfortable. >> it will take some time. as i'm seeing customers do their part they'll rebound and it will be safe rob, you gave us a little

glimmer of good economic news. thank you, rob take care. still on deck. the big standoff between the president and american governors. former new jersey governor will be here to break down what is at stake and what we need to do now leadership wise from the state and national level dow future is up triple digits we are back after this >> announcer: today's big number, $7.9 trillion. that's how much the congressional budget office expects the coronavirus to cost the economy between 2020 and 2030 that represents the reduction of 3% of real gdp

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>> doubling the sales forecast for the year even as costs are rising sharply shares are flat to down in the market up nearly 200%

zoom's market cap topping $61 billion. roughly the same as ge and more than target. stock two is lyft getting a lift well below where they were a year ago total rides last month 70% weaker but demand did rise 26% from april with gains in cities like new york, nashville and austin >> amazon planning an event to jump startsale $all brick and mortar retailers need to hear as

they struggle to stay open expect a big online sale from amazon if you haven't done any online shopping, now is your chance city ahead, some hope for your wednesday morning when it comes to the american jobs picture maybe, just maybe, why the worst may be in the rearview mirror. goldman sachs laying out the optimistic playbooks for the markets, we'll break down their reasons for being optimistic when "worlidexandwe chge" returns. dow futures up 130 stick around

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optimism in the driver's seat pointing to another strong open for the street investors focus on the global rebound. all of this as nationwide protests and riots continue to grip cities from new york, atlanta to l.a former new jersey governor here. will car sales bounce back faster than many expect? the ceo from volvo group when they expect to get their south carolina factory back to work watching "worldwide exchange" here on cnbc

>> investments look now as we are not quite half way through continuing the trend through a last few days. dow futures up 163 points now. if you are wondering why, here is why markets are doing what they do. clearly looking ahead. all the major averages are well off the lows during the pandemic height the nasdaq 100 is now 0.8% from its all-time high. it is feasible in the next couple of days, we could see a new record for the nasdaq 100. with 40 millions out of work, protests in the streets,

concerns about the fall out from the virus. goldm goldman sac goldm goldman sachs. four prime r four primary reasons opening states largely better than expectations. even better news low to almost no growth in new york and new jersey yes, all health data is the key economic data. number three, this has reduced the risk of short-term uncertainty. four, despite the sharp talk from the president

analysts believe the risk with the conflict from china has been, quote, compartmentalized by trump it has been mostly that. talk but they are not done there are risks out there. goldman sees these things as a possible flash point will they reverse that the long-term debt through the relief bill. trillions passed down to us social unrest. you can agree or disagree with the analysis you cannot disagree that they have push on the street it looks like it has around the world, we are seeing more here.

green arrows in asia overnight standout nearly 3% smili smiling julianna tatelbaum maybe the latest tatelbaum bauk to work index. about two months ago, nobody but you and our crew on the street now i'm sure you are seeing more economic activity as you get your $4 latte. >> you know my walk to work well i'm afraid those lattes not available when we go to work some fresh data this morning that investors are eyeing the services and pmi numbers showing services activity in april

italy, tourism there set to travel today things really kicking off when p it comes to tourism. the euro has been trading strongly versus a dollar this proposed 750 billion. in terms of the sector trade where you are seeing rotation into most valuable parts of the market back to you. bank stocks there. travel trends.

taught tatelbaum indicator higher. now to the daily dose of hope and optimism when it comes to future of the u.s. economy a lot of bad news out there. take a look at this part look at the far right. that hit spiking boom, way up. the google trend for benefits. the latest read on the jobs number things should start to get better in the job market for money now joining us on the

city ahead of investment strategy shawn, thank you we are not trying to be pollyannas here. not saying everything is great 40 million unemployed, mass protests across the country. the markets appear to have priced in. is literally the rally just the fed being thrown at the problem? if you look back over the global financial crisis, it took them six years to expand the balance sheet. it looks like they'll add a

couple trillion beyond that, you are seeing green chutes that things may have bottomed maybe mid-may. more people are flying tsa have reported the number of travelers coming through their check points has picked up more people are traveling. apple routing requests are back to pre covid data. and look at open table they are reporting an up tick of seated diners even with reduced capacity >> i love the hopium drop there. is that already and more priced in we are still down 90% for fliers year over year

better but still terrible. has the market overshot its optimism >> maybe a little bit. our year-end target not set for me midyear, 2021 target is 3,160. it represents upsides from here. getting back to the pull back. i don't think we'll retest the lows health data and economic data now are looking better. >> i was joking with julianna tatelbaum about cafe and lattes.

is this market addicted to stimulus, shawn? is that the caffeine fix that we need >> i think it certainly helps if you look at the balance sheet and experiencing the core relation of 0.98 it is definitely a key 5:0 sell rant we tend to call it unprecedented. you go back to the past 13 recessions with a draw down of about 30% and the subsequent 12 mont months this doesn't look at that but the nature that is coming in

deep they've done extremely quick and that has helped out. >> city private health appreciate it very much. a closer look at the global auto industry one of the hardest hit faster one on the way. ceo here live with his insight exclusively when "worldwide exchange" returns. 300 miles an hour,

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welcome back the auto industry has been hammered by the pandemic and lockdowns. expecting may auto sales as bad as that sounds, it would mean a roughly 50% jump from the terrible numbers around the world. volvo first quarter sales numbers out. yes, they did drop by 25% year over year, there are some positive trends to pull out of that with us now, president and ceo of volvo car group worldwide thank you for joining us here. thank you very much. nobody is saying sales are good down 25.5% from may of 2019. it looks like when you dig

through the numbers, there are some signs of a relatively faster rebound than some expected is that a fairway to read it >> yes i got the numbers to discuss i was positively surprised especially in the u.s. where we had the strong slow down may figures were a couple a percent lower than would be expected that is positive and china, we knew that there were 20% above last year b in a rather steep acceleration, this continues

really the form had come back to recent numbers >> that is amazing about a week ago said sales sold more cars this year than in may last year. i get it one dealer, does not a story make coming back to the show rooms in aggressive numbers mid to later part of the month gave him hope. were you seeing growth trends? also interesting working very hard now online contacting dealers

are you seeing similar trends? >> china, they are back to normal a couple of months ahead of us selling better europe is later in the process especially uk. germany of course we had 50% normal in may. now an increase of the activity but still on 50. we are rather positive that june will come out stronger than 50 and will be probably half way

back to normal >> some really good looking cars the v 90 looking good across the market i see them everywhere what is the status of the south carolina facility right now we had disturbances in supply we are really opening up this week on friday and will go back to normal production then a question of how fast the sales will come back

we have had the head here on several times saying things are getting back to normal as well are you able to get the global parts you need to build a car right now. we have some parts forced to close down right now, the supply chain is back and we are open on friday and will produce the cars good news in the shorter term. people seem to be worried about the longer term. you look out a year to 18 months and do your planning, what do

you see a year out, two years out? >> thinking about the second half year almost this year we are stressing to our people the last year and we should have the summer vacation seeing an enormous second half year following the plans that should come back to normal. that is of course probably held by the product

the coronavirus maybe i'm optimistic back to normal is maybe not the right word back to full operation commerce, maybe that is something that will stay i think we will learn to travel less video conferencing has enormous. i think we have learned we maybe don't have to travel to the u.s. or china for a two-hour meeting. >> instead of flying, we'll be driving a new volvo. nothing wrong with a little optimism thank you for coming on the program. we appreciate it joining us via zoom. rbc raising zoom price target to

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and now receive 25% off your purchase at olay.com brand power. helping you buy better. cnbc out with a new states of play poll battleground numbers taken the latest read on our states of play how we looking in our battleground states this morning? >> good morning to you these polls have been showing stark divisions around american life this time the way black people and white people are experiencing this virus. very different experiences also seeing the difference

between democrats and republicans. if you look at the impact of the virus and whether or not people believe it is getting better or worse. you look at the divisions there between black voters and white black voters there in the red. white people in the gray 49% think it is getting better getting worse, exactly the opposite 49% of black voters think it is getting worse. looking at whether or not it is safe to return to work 31% of black voters say it is safe to return to work 62% of white voters say it is safe unsafe, exact mirror image 44% and 22%. stark divisions here that explains that black voters and

white voters are experiencing this virus very differently. it is striking that even though black voters are sayings it unsafe to return to work, you are seeing so many black voters out there participating in the protests a good number of them feel it is unsafe that speaks to the depth of the feeling around black lives matter and theissue of police brutality. >> stark divide again on the new states of play for more on the path forward facing states as governors look to balance peaceful protests we are joined by new jersey governor, christine todd whitman. thank you for coming on.

is there a balance and leadership in the protests and situation and try to bring this country together in some way >> if you are looking for causes, you have to go back decades. this has been a problem, racism has been a problem since our founding we have never figured out how to deal with it right now, it is being exacerbated out of rhetoric out of the white house we try to figure out how to balance the need of the police force. we need safety the majority of them operate in the right way. you've seen pictures of them kneeling with protesters and then cracking down on the

response to george floyd and others who don't care. the president saying, come on be rougher with people. it is okay to bang them with the cars some officers are behaving this way and when they are attacking media. they've been told the media is the enemy. the rhetoric from the white house really does matter the president has yet to step up and show any empathy for the family of george floyd he goes to a church and holds up a bible and doesn't open it or say a prayer or go inside. telling governors they all look like idiots because they don't come down harder right now, governors are trying to tone down the dialogue to let people know they understand and hear the frustrations.

they are fighting an up hill battle >> what is the solution? we need to end the brutality and equal opportunity for all. is there outcome here? something state and national leaders can do or do we just have to let it proceed and move on what is the solution, if any communicating to the public. understanding what it is about we hear you bringing in new protocols for police talking about the economic divide, the education divide all seen as being recognized in

the country and the challenge. it will take more than just we hear you it will take actions you've got to stop the riots with the covid-19, their budgets are already in bad shape >> in your state, new jersey right in the heart of all of these things. >> i want to get you back on thank you for joining us we appreciate it that does it here on "worldwide exchange" on a wednesday the dow futures up nearly 200 points moowl roll on and see you torr squawk and the gang picking it up next. have a great day

across america, business owners are figuring things out. finding new ways to serve customers... connect employees... and work with partners. comcast business is right there with you. with a network that helps give you speed, reliability and security. and enough bandwidth to handle all your connected devices. voice solutions like remote call forwarding and readable voicemail. and safe, convenient installation. when every connection counts, you can count on us. get the connectivity your business needs. call today. comcast business.

ahh, the weirdest. you make everyone around you crazy. people are normal and then they hang out with you and then they're jack nicholson in the shining. i'm gonna tell my mom you tried to drown me. it's an above ground pool. you're like eight feet tall.

good morning, protesters again taking to the streets of new york, los angeles, despite curfews in major cities. we continue to focus on finding solutions. starting this hour with new comments from target's chief executive. big market movers will bring you up beat numbers from one stay-at-home stock up 200% the market up another 260 yesterday. another 180 today. almost at 3,100 on the s&p wednesday, june 3, 2020. "squawk box" begins right now.