it is 5:00 your "five at 5. despite record spikes of covid cases. new studies saying virus antibodies may not last long the nation observing the juneteenth holiday amy klobuchar pulling her name for the vp race saying joe biden should pick a woman of color

all week, we've been introducing you to the changing industry today. we are talking energy. "worldwide exchange" begins right now. >> good morning, good afternoon, good evening wherever in the world you are watching starting on the high note. dow futures up about 150 points right now. on the first win streak in a month. now today, what we call a quad rupa witching friday what does that mean? the single-stock options,

futures and index options and futures. why should you care? when all those things expire it is often associated with extra volatility just something to watch. didn't narrow a bit. the same as they were at 10 at 0.72 green arrows in asia overnight chinese stocks up and early trading we are seeing green on the screen to round out their weeks. germany, france and uk all higher by just under 1% right now. in trade news, there is a report this morning that china plans to accelerate the purchase of u.s. farm goods to meet the requirements with a trade deal following talks about top

diplomats in hawaii. planning to increase buying from soy, corn to ethinol purchases said to be interrupted. in the meantime, as we track the data on covid-19 cases as the nation prepares to finally observe the juneteenth holiday something far, far overdue >> we'll start with the covid-19 news california, arizona and texas all reporting record spikes as states ramp up testing and the virus seems to be taking hold of the american south and west. a new study finds covid-19 antibodies may lost only two to three months after the person is infected with the virus. the study was small and looked

at people. >> the holiday not recognized as a federal holiday. in the wake of the killing of george floyd, this day has taken on added meaning many making it a paid holiday including nike, lyft, uber an target google and amazon told employees to cancel all meetings best buy is giving a paid volunteer day that can be used today or any time during the year and some banks are closing early today. >> amy klobuchar is withdrawing her name saying joe biden should put a woman of color on the ticket that's the latest, brian back to you. let's get back to the

markets volatility may be down from market levels huge moves could come quickly and without warnings what might be ahead. welcome managing director of capital markets. good to chat with you again. are these markets really hard to figure out >> these are pretty hard to figure out there is a lot of uncertainty. if we look at the markets, so much of what we see is driven by coronavirus, fears, good news, bad news, trials, vaccines it is a very reactive market to all of that. i think what is holding the market up and causing people to stay in the market is all the support from fiscal and monetary policies in no uncertain terms, the fed has announced a floor from the market which would allow

investors to stay involved >> okay. what are your client's direction doing? what are they in and what are they selling >> they range in terms of a spectrum of what you are looking at some are looking to buy on a dip and on quality names they are looking for strong balance sheets, ratios and they are goodbying crowd. short term, we have seen epic volume in a lot of our high beta etf products any of idea, amd, these stocks that tend to move with the news. say we got positive news around china holding on to the phase one trade deal and the high volume they span from semiconductors to ai and robotics.

you bought soxl and the graphic up there that is the nvidia, sky works all of those names leading the market technology and stay-at-home theme. web related like amazon, netflix, zoom. some of the etfs also perform in these markets. >> so people are kind of doing what they did last month we heard some talk maybe the stay-at-home trade might be left at home but apparently it is not. it is still red hot or at least hottish. >> i think the stay-at-home still works, all of the investments we've made to work from home will continue forward. a lot of companies will start to stagger employees and you'll have half staff at home, half in the office a lot are increasing flexibility

to work from home, even permanently in some cases. i don't see this going away. i think if the virus stays with us or another virus comes into the system, the fear of this coming back is enough to have companies invest in some of these services i think everyone has gotten used to buying everything on amazon and watching everything on netflix and preparing 5g and wi-fi to do all of these things. i don't see that going away whether back in the office or back at home technology, the cloud, all of these things remain massive priorities for companies going forward. >> always a pleasure to get your views. >> thank you the nation observing the juneteenth holiday commemorating the end of slavery in america.

we are in an important, necessary time right now as companies look to improve racial relations. companies looking to bridge the gap. we'll bring you one of those stories, next. - [narrator] the shark vacmop combines powerful suction with spray mopping to lock away debris and absorb wet messes, all in one disposable pad. just vacuum, spray mop, and toss. the shark vacmop, a complete clean all in one pad. okay, give it a try. between wisdom and curiosity, there's a bridge.

between ideas and inspiration, trauma and treatment. gained a couple of more pounds. that's good for the babies. between the moments that make us who we are, and keeping them safe, private and secure, there's webex. ♪ ♪ beautiful. bbut what if you couldg do better than that?

like adapt. discover. deliver, in new ways, to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back, but bounce forward. and now, with one of our best offers ever, we're committed to helping you do just that. get a powerful and reliable internet and voice solution for only $29.95 a month for three months. call or go online today.

welcome back time for some of your big stock stories. marathon looking to sell speed way gas station business reporting the deal is likely still weeks away and may stick with a plan to spin it off inspeed. marathon had been close to a $20 billion deal with 7-eleven but was halted when covid-19 shut everything down. hertz scraps a plan to sell $500 million of new stock. smith and wes on resulting in a sizeable charge the company plans to complete the spinoff of the american outdoors brands unit later this summer the nation marking

juneteenth today black business leaders will tell you not only is financial education soarly lacking, so too is the connection between corporate america and black talent one company looking to bridge that divide. project destined launched four years ago as a real estate learning platform. >> how is it going to drive more revenue per square foot. >> it teaches inner city kids finance. they can win a stake in those deal through live scholarships teaching real estate but preaches community ownership when covid struck and new york city canceled 75,000 summer paid internships, he set out to safe some of them >> we went straight to the real

estate and ceos. if you want action, you have to have leaders >> recruiting some of the biggest in the business. brookfield, tishman, and more to fund the internships when the protests erupted, even more companies stepped up. >> the protests are critical because they bring awareness how do you translate that to action we are working to create true hiring opportunities >> he brought in cofounder of a small black-owned firm which helps real estate investors source deals >> a lot of the lack of access you see people demanding in the streets right now comes from the fact that folks who have power, pour to hire, et cetera, don't interface with black and brown communities. they don't have a means of

entry. project destined is really cementing a pipeline of talent into these organizations >> now hundreds of internships are under way. learning strategy and getting in front of the people that could potentially hire them later on >> what is the potential for more of these internships? is this just in new york or has it spread or will it to other cities >> they are taking it to cities across the country atlanta, other markets the more funding they can get, the more companies they did get to step up, the more they would have they would like to put a mark on over 1,000 internships by the fall the more funding they could get, the more they could do, that's endless. >> right now, nobody can go meet

up and sit in a class and talk about this how do they keep kids engaged right now sf. >> all on line and virtual the kids have been really engaged. the whole platform was on line to begin with. the kids into it already were used to it they are engaging with people. maybe zoom calls, virtual stuff. they are talking to real stek tiffs, sourcing deals, they are involved in the research maybe there is no difference in sitting at a desk or at home in an internship and doing this they are talking to real companies and that is keeping them engaged of course, they are paid internships. that is important to these kids. >> it is an important story there thank you very much. coming up, a company turning industrial waste into next generation fuels and things like jet engines in a more unique

way. a cnbc disrupt tore yor you neeo know about coming up next. >> announcer: today's big number, $40 million. that's how much cash american airlines expects to burn every day in june. that's down from $100 million a day in april the carrier now expects its second quarter revenue to plunge 90% year over year can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information.

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how did you... gotta enjoy the small wins. you keep being you, derek. keep being you. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can.

talk to your financial professional or consultant for investment risks and information. welcome back throughout the week, cnbc has been highlighting this year's disrupt tors making breakthroughs and changing industries. the next guest has not only done that for recycling and energy but has made the disruptor list four times in the last five years. jennifer, i'd say welcome. i should say welcome back. four times in five years all right. i'll call it wbi, i like to a won can i but important. in plain english this early, how does your company take waste and make it usable fuel?

>> what we do. we do gas ferm enteration. it is like making beer we pump them in and we have a bacteria that eats them and we make this. >> what companies are providing the product. who are the providers and who are you selling to >> providers are companies like steel mills or refineries. we have a plan running in china, commercial plant taking ethenol from the steel mill near beijing. we are building a plant in belgium. a similar plant in india with indian oil we take their emissions, a

variety. industrial sites include steel mills, refineries, chemical plants all of these can be converted to ethenol. >> it seems to me if you are getting waste from refineries, you are trying to put refineries, i think, out of business also. are you trying to replace refineries because they are also providing you product? maybe i have it wrong. >> no, no. actually that's a great question steel mills for example have carbon emissions refineries have been around for a long time. if they happen to have gone away we can take carbon dioxide people capturing from the air

are other emitters we can use that to convert that into food for our microbes we can use all sorts of waste that doesn't have to be this industrial waste, as i mentioned. technology is a platform we can classify solid waste such as trash there is a lot of different feed stocks that this organism will eat. we are replacing product made from fresh feed stock. we are trying to do a circular approach to learn how to take that ethenol to aviation fuel. we've flown planes we flew a virgin atlantic fligh

from orlando to gatwick using this fuel. it is a lot of runway. it is not just today's emissions. >> i like the pun. a lot of runway. is aviation the primary end use for your product >> i think aviation is one of the hardest to decarbonize sector we are combining a hard to decarbonize sector site with the aviation sector. we do believe the primary target for the fuels part of the business will be aviation. we also can make products like fibers for the clothes you wear, polyester. we are trying to transition to using the waste recycle carbon transmissions to make packaging materials, et cetera substituting for as many fresh fossil feed stocks as we can >> jennifer, ceo of lanza tech,

number three on the disruptor list keep it up we'll talk to you soon thank you. >> thank you coming up, our weekly insider buying segment the stocks we have highlighted have been outperforming the overall markets for months we have one name you probably never heard about that has a huge insider buy think payrolls and restaurants dow futures up nrleay 200. we are back after this need better sleep?

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bbut what if you couldg do better than that? like adapt. discover. deliver, in new ways, to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back, but bounce forward. and now, with one of our best offers ever, we're committed to helping you do just that. get a powerful and reliable internet and voice solution for only $29.95 a month for three months. call or go online today.

good morning green arrows to begin your week. dow futures are up 180 the inside track we'll tell you about a stock you probably never heard about getting a big buy from one very important insider. the nation observing juneteenth. what many companies are doing and speaking with the only african-american ceo of a s&p 500 corporation. it is friday, june 19, 2020 here on cnbc. welcome back good friday morning. here is how the global markets are looking. just about half way through the

5:00 hour. today is what they call a quadruple friday that means the simultaneous expiration of single-stock options, futures, index options and index futures. bonds, no move there 10-year, 0.72% time for the weekly insider buying segment where we highlight five companies with the most executives buying stock with their own money the average gain of this stock is 41% this quarter. in other words, the insiders are very smart data coming from insider score.com. stock number five with $988,000

is fibro again under $1 million in a buy from the ceo. advance auto parts a third is signatucigna. next two new names to the show, noub two, change health care cfo there buying $100,000 shares the most insider bought is a a unique company called cannae holdings ticker is cnne had multiple insiders buying $9.3 million worth of stock. a las vegas company that owns payroll company ceridian, did

you know dunn and brad street and some restaurants like oh charlies very interesting the insider segment we do each friday every week. most markets and sectors have performed pretty well despite a spike of volatility including the energy sector. check out wti crew since march 10 up since economies have begun to reopen. oil prices are still down more than 30% overall for the year but they are not negative. let's talk about what this might mean for equities. integrated oil and financing

analyst for jp morgan. they just wrapped up a big conference this week thank you for joining us $40 oil. if i told you on the way down we'd hit 40. the fact that we are not at zero makes people more optimistic, i guess. where do you stand how does $40 oil play out for the stocks that you cover? >> brian, good morning thank you for having me. it was a record attendance at the event. thinking about the oil price right now. i still think $40 oil to this sector is a challenge. as you take into account, the cap ex to invest, the dividends these will have. i still think they'll have $50 oil. that is not one they'll grow their crude production >> are there any companies that

have the balance sheet, the cash and access to credit if oil stays around these levels for a year or two years are going to make it >> absolutely. if you look at my coverage group, chevron, conocophillips they have best in class balance sheets chevron on their earnings noted that $30 oil, they would not even go above their double a leverage targets just paying on the dividend for the balance sheets there are many that could survive and many that would struggle as well >> these companies like a chevron. i know you've got an overweight on conocophillips. sometimes this crisis brings opportunity. you've indicated may fall by the

way side do you expect consolidation anytime soon i think they would have preferred pressures on the stock prices you've seen initially share prices have bounced back the spreads are difficult to make this work where there is feedback >> what are some of your other best ideas if some of our viewers want to step into the world that has been largely cast aside. if they are willing to step in, what are some of the best ideas right now? >> we prefer the refiners over

the majors also with similarly strong balance sheet. some we like are phillips 66 and val ar owe phillips 66 are an integrated company without the upstream you have the downstream chemicals that is very stable. we think that could hold for any portfolio. >> what do you do that others don't? what makes them different? >> they have a lot of stability in the ebida profile if you look at this company, they've spun out from condo phillips in 2012 over that time, they've really

built up the midstream business which has the stable source of cash flow. much more stable ebida over other business at the time their trough earnings would be much better than people would expect >> your best ideas now is phillips 66, chevron and conocophillips >> i would say phillips 66, number one, chevron two and third probably conocophillips. >> a pleasure. >> thank you for having me >> hope to see you in person at some point >> absolutely. coming up, we'll continue the conversation around corporate diversity and leadership lisa wardell will join us live with her c suite receipt for change that's next.

hrough multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information.

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welcome back companies around the world are continuing their multimillion dollar pledges to help the fight. companies like facebook, alpha best, charter and nfl have upped their donations for companies to observe juneteenth as the holiday continues to grow. despite all of this, actual progress is slow

african-americans occupy 3.2% of leadership at large companies and 0.8% occupy fortune 500 ceo positions. our next guest has a c suite receipt for change joining us is lisa wardell director on the lowes home improvement board. only african-american chairman and ceo on the forbes. if you were to offer up your receipt. i don't have to tell you a lot of talk not just the last couple of months but decades a lot of talk, not a lot of progress how do we fix it >> you are right a lot of talk. i would start with the expectations of leaders in

america is changing and drastically in america as we look at esg and the s of social justice. our investors and stake holders are demanding we speak out and actions. three things that corporations can do in this time and in this moment to address racial injustice and disparities. the first is economic. we need to create more jobs and expand our vendor basis to minority and specifically black suppliers. that is being done successfully regionally and in smaller settings as a corporate leadership group, bringing that to scale that needs to be with measurable outcomes each of the companies trying to

do that need to do that in a place that works for what they do well. for us, we do medical and health care education we need to discuss the job market disparities we see in minority communities as we go through the covid-19 pandemic. >> i've got to imagine, that has got to begin a long time ago in other words, you can't expect someone who is 24 to start programming code we need to start educating people everywhere on the industries of the future when they are 10 years old, 12 years old, 15 years old. >> you are exactly right corporate america plays a role in that. there is two ways to do exactly what you are talking about the first is we have to be

intentional about diversity in our own organization it starts at the top it starts at the board with the management team. that is intentional for an economic reason. we need people on our boards i have four black members on my board including myself those are people looking at those systems and path ways to careers. as a result in our institution, we are able to put in programs that really go high school to health care, nursing and medical and veterinary school. it has to start, as you say, from a very early age. people have to be able to see what those jobs are and how they are able to go through that system and get to the employment system we have to be able to measure that you are right, brian >> it feels like corporate america and the education

system, i don't mean advanced education. if you go back when the kids are young, in middle school, high school, there is such a divide between what companies may need and what is being taught i've got a 16-year-old daughter who is very far from being perfect. i look at some of her curriculum as good as they try to be and it seems dated. >> a couple of areas one is in and around the history of this country and how we have gotten to the place we are if we look at the covid-19 pandemic and everybody homeschooled and went home to have that schooling. the digital divide in minority communities, especially black communities that were hit very hard just demonstrates and

highlights the fact that we don't have the same opportunities across all of our communities. if we have diversity in and around the corporate board room and management team and through the ranks of corporations, we have people who have lived in those communities just like i am, who grew up in those communities understand what is needed in addition, people in those communities, adults in those communities need to have jobs. we are able to address that problem. we can only do that if we expand, to your point, what the education system means and what we are educating people for. there are short courses, 12-week programs and programs that can get people skills and up skill them to this digital world we do it in financial services, medical and health care. across corporate america, we can do it across all of the industries >> is it in some ways, is it

easier, physical location doesn't seem to matter anymore i can do a zoom call from nome, alaska how does it balance out? >> it is giving corporate america and leaders a new way to look at how we may be able to address these disparities. again, in and around locations where our corporations do the work now and have the expertise. for us, it is education. for others it may be making sure there is broadband and 5g access so that those communities outside of where we would typically think of specific concentration of manufacturing or anything like that combined with the technologies that we

are able to use now so that we don't have to be in a particular office or place helps. at the end of the day. we still have to address the underlying social injustice that has allowed systems that are issues within minority communities and obviously the last few weeks, we've been talking about black communities that don't allow education or pathways the same way because we don't have the same opportunities. that's what we are trying to attack >> good work there an important topic on an important day, lisa, i didn't get to ask you about lowes but fought fnot for today. maybe another time take care. on deck, a top ranked portfolio manager funds outperforming.

what small cap zok does alger's amy zang like? and mcdonalds looking to hire 260,000 workers. amc theaters will not require customers to wear face masks ceo says he thinks people will but he didn't want to force it on anyone. chain will have 400 locations open by mid-july alibaba and jd.com record $136 billion in sales. being closely watched as a baro meter of the chinese consumer. dow is up triple digits.

gained a couple of more pounds. that's good for the babies. between the moments that make us who we are, and keeping them safe, private and secure, there's webex. ♪ ♪ beautiful. it combines powerful vacuum suction and spray mopping. to lock away debris and absorb wet messes. all in one disposable pad. for a complete clean, vacuum, spray mop, and toss, in one click. the shark vacmop, a complete clean all in one pad. (drum beats) that go out today get delivered.

there are people who can only get food from amazon. when you come into work, that's what drives you. my little one, i would say he's definitely proud of me. every time he sees the blue prime trucks, he says, "daddy, there's your people!" i know every single one of us is here busting as hard as we can go every day to make sure these packages get delivered. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information.

dow futures are up 200 points back to the broader markets. a theme we have been discussing here, the recent outperformance of small and mid-cap stocks. increasingly betting on u.s. economic bounce back we are seeing some signs of that in the retail sales data how can you capitalize on that data joining us, top rated manager, a name that should be familiar to our viewers, amy zhang from alger. great to chat with you before we get to these unique and single stock ideas, what is the framework right now? some people think the rebound concept has come too far too

fast what say you >> caller: good morning, brian great to be back on the show yes, the rebound, i think some of it has been a little ahead of itself where we are with recovery and the stimulus i think that will be even. on the other hand and during the recovery stocks, they would be favorably positioned on the environment and the spread that would be a growth stock because of the longest duration of equity assets

why that would be very attractive that is the furt al ground and there are a lot of opportunities there. >> one thing you do is bring on these names we haven't heard about or think about a lot let's start with some of these names. jim cramer likes to talk about dominos being a technology company that happens to sell pizza. really a tech company at its core you feel the same way about wing stop why? >> yes i would say wing stop is a tech company that sells chicken wings. wing stop, we've been long-time investors in wing stops. it has a lot of attractive things as a franchise.

great earnings, visibility, cash flow generation. unique combination of growth most importantly what i say is a technology company at heart is really its undergoing tremendous digital transformation through digital sales that is delivery and pickup as you know, those are important initiatives that were very early on developing their own technology and app currently, digital sales is about 65% of the business and the ceo has the foresite and every action with digital sales, there is less labor provided and higher

average per dollar check in this environment in pick up and deliver that is most important for customers. for delivery, they have exclusive partnership with doordash through the app, they get a lot of customer data that is tremendously valuable. those data can turn into information for them to have better customer engagement >> i want to get some other picks there. we showed qdel, 177% gain. still one of your top holdings do you get nervous that it has had a massive jump this year >> no. they are a leader in the rapid

diagnostic testing so covid testing is wheel house. there are three types of covid testing. one is pcr testing that they have antibody tests and serology tests. most importantly, receiving the fda use authorization in may for the first and only coronavirus test where many officials say that is a real game changer. it is really a game changer. why it is so special, with the ptr test, it has to be done and processed in the lab for two to lee hours. you are not going to get a result until a few days later. with this test, in the important setting that can quickly detect

results and you can rapidly screen people in 15 minutes. sensitivity is good enough in the high 80s you will only miss 1 out of 10 that is important for the reopening and going back to work and the economy. >> yes, it is. third pick is crowd strike always love having you on. great to have you on don't be a stranger. talk to you soon that does it for us here on "worldwide exchange. dow futures are up 207 points. another good monday. my gosh, it is not monday. it is friday thankfully "squawk box" is next for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information.

talk to your financial professional or consultant bbut what if you couldg do better than that? like adapt. discover. deliver, in new ways, to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back, but bounce forward. and now, with one of our best offers ever, we're committed to helping you do just that. get a powerful and reliable internet and voice solution for only $29.95 a month for three months. call or go online today.

>> good morning. covid numbers spreading. a number of states reporting highest cases. dporners are taking actions to try to is slow the spread. futures are higher much of america is observing the juneteenth holiday marking the end of slavery in the u.s. we'll talk about the moves companies are making and the big challenges minorities face in the work place "squawk box" begins right now. good morning, everybody. welcome to "squawk box."le