i love it. have a great weekend, guys. >> everybody have a good holiday weekend. we'll take you out by a look at where the markets are. way better than expected employment report into the holiday weekend. that does it for us. kelly, all yours here's what's ahead, fizzling out, stocks are off their highs, as they spread -- why? stay-at-home trade is outperforming again today. should you stick with the stocks or not we'll get into all it and ask. plus bankruptcy could spark another financial crisis we'll look at the risks and what if anything can be done to stave this off inside moderna the stock has tripled this year as they become a front-runner

for the race to a vaccine. dom chu is here with those numbers. >> very much green to close out the holiday shortened week we are seeing some reports that certain key states and hot spots for the covid pandemic might be seize a ri seeing a rise in cases up about 1% as well, and the nasdaq gets a gold star. it's been positive 13 of the last 15 sessions 2020 has been all about those growth-y type of names look at the gap that's developing here. it's just getting wider and wider.

they growth could be covid-19 plays or could just be megacap technologies all of these they have all hit intraday highs they've also been on shopping lists for years. we'll see if that trade continues. thank you very much, sir. a report 4.8 million jobs were added in june as businesses reopened the unemployment rate fell to 11.1%, but a big part of the gains were in leisure and hospitality that may be at risk for renewed closures here to dig through the report, charlie babrinski and michelle myers. great to have you both here. michelle, on the jobs report, are you concerned these gains will be unwound?

it's possible, but more than that, i think it's just going to be a likely slowing. so in a sense, the last two months, the 34% recovery of the cumulative 22 million jobs were lost, that was an easy restoration. here of from here on, i think it will be more difficult, varying on the industry you're in and the region you're in, given what we are seeing with the return of the virus. >> also we welcome in terry spatz here charlie, let me turn to you and your thoughts of kind of how the make roe picture is evolves. you were really optimistic on

how the economy was recovering is that optimism now tempered somewhat >> unfortunately the answer is yes. i think you are absolutely right. we thought-to-we could see the data and we thought things would peak and get better relatively quickly. a lot of the work we did talking to managers, they said they were putting people on unemployment so they could get unemployment insurance, but they planned to hire them back quickly i will say the recent case numbers have put a bit of a dent on that. we did not see this happening. obviously the death numbers continue to trend down, but i'm here in florida on vacation and there's no doubt the restaurants are less busy today than when i was here in memorial day the market does not want to see a reversal

>> one of themes i hear a lot is if you aren't sort of long or bullish on stocks, you're basically short the u.s. government, and science, every scientist, every biotech company, you know, is he right wouldn't it be met with some sort of government responsibilities aren't we all expecting at some point we're going to get good news on the vaccine front? absolutely if we get a vaccine, if science comes through here and cures this, that will be very positive, but know you don't have to make a bet on government.

so we've already had massive government spending. we put a band-aid on a situation, a very important band-aid, but that firepower is not enough to save companies that have empty restaurants or oil companies where there's no deplanned for gas. the sdrins yet, the government no more looking at the end of next ye year. >> i 100% agree, and it's been a good band eight, but risk still

matters, discipline still matters you absolutely have to pay attention to the down side and the drawndown you're putting yourself at risk on, if you buy like a zombie. we're looking at the tradeoffs we like emerging market strategy -- >> i wish we could continue talking. we actually got breaking news on the coronavirus front. thank you all. meg tirrell does have more on the breaking news out of the moderna. what's going on? >> hi, kelly, i've been corresponding with the ceo stefan bonsell they are still on track to

beginle phase three trial in july the stat news story is reporting there might have been some delay from a planned start on july 9th, but it could still start this week due to a change in the trial rotocols you know, just what i'm getting here is that the trial will still start, the phase three trial, this month, all of the end points, all of the same size, the dose plan, all of that remains the same moderna telling me they do plant to start this phase three trial this month, kelly. stat news reported that the trial's start date was delayed is moderna confirming that, but saying it will still happen in july >> they are not guiding by the day. i hadn't heard from the company that they planned on start on july 9th my colleague at stat news reported that the investigators of the trial, the people at the clinical trial sites who run the

trial, he's saying from his reporting, they had said they had planned to start that day and it might be delayed. so we're talking potentially about the difference in a couple weeks. moderna saying no change to their guidance that the trial will start this month. >> interesting we're going to talk about moderna in a couple minutes with greg zukerman. we do want to hit on the fourth of july weekend. some of the warnings from authorities, making sure the spike doesn't accelerate what can you tell us >> a lot of public health experts are saying we might have starting to see the cases rise, as they saw the weekend as a chance to return to normal there was a lot of wishful thinking around the country that hey, summer, everything is going to be fine, we're over this. we are not even beginning to be

over this. >> and so were hearing from public health departments, social socially there are some states that are actually closing some beaches and parks in order to try to help people being close together california, texas, florida, colorado among the states that are urging people to be safe, so that they don't crowd ers this weekend. same quote that we need to get everyone to get through the weekend with all their fingers intact talking about some of the home fireworks shows that people might be putting on. which we're also going to discuss in a minute. the testing, you know, this has become an issue the delays are happening again, is that related to the spike in cases? what's going on on the testing front?

it's gone up tremendously. we are starting to see more delays, and some of the biggest testing companies, quest and labcorp warning about the turnaround times and you're hearing about people having to wait a long teem we are in a situation where the surges happen, the testing is, again, becoming a problem. >> frustrating meg, thank you very much for all of that. meg tirrell with all of the news. coming up, bankruptcies could lead to a financial crisis that's what james bullard is warning. how concerned should investors be, and what areas of the economy are most at risk. one chinese expert says the passing the the security law is a wake-up call to the u.s. and could be the end of the city. take a look at the biggest s&p 500 winners. we're back in two here on "the exchange."

s. try to pay as much as yo

welcome back st. louis fed president james bullard said the spike in cases could lead to more bankruptcies, telling "financial times" we could get a wave of substantial

bankruptcy, and that could feed into a financial crisis. joining me is steve audland. it's interesting that you both are together focus odd this issue. what are you seeing out there that has you so on edge? >> if you look at the early part of this recovery, it looks a bit like a v, but inevitably that will flatten remember, that's still down 6% versus a year ago. those sales are artificially void you just have to look at what's going on underneath those numbers. 106 million debt payments were missed in may. there's 130% increase in loan delinquency rate 2.4 million properties are due

and 62% of people receiving unemployment are getting money higher than they would working then look at the income tax delays, so people who owe income taxes have the incremental money. if you look at personal income without the government transfers, it's down 30% you can see how this is going to flatten, and affect businesses the bankruptcy rate through may is running at 256,000 bankruptcies there's a lot of small businesses and companies in that, but the major rates are running double a year ago. with all of this coming through, with layoffs coming behind it, we're really worried about anning in in those bankruptcy. >> an increase side note on the debt payments missed, a lot of those were student loan payments, which is a separate issue, i think pointing to another problem that's just going to continue to hang over not only the economy, but also they individuals trying to figure out which payments to

make and not may so let's talk about the bankruptcy candidates that you're most focused on most obviously brick-and-mortar, hotels, restaurants, but you're saying auto dealers, smaller home builders, commercial real state, talk through some of those and why you see risks there. >> i think the brick-and-mortar retails and restaurants are obvious, and all the travel stuff is pretty obvious. when you start to see the ripple effects through, you know, the sales and what's going to happen, these smaller auto dealers just are not going to survive. they could the big chains obviously can't home building is down, you know, you've got some purchasing going on, you know, most notably in the suburban areas, but that's going to slow down then you've got, you know, the theaters i think that anything where you have out-of-home gatherings like entertainment and theaters, shopping centers, i think people are going to have a behavioral

change, even if the government doesn't step in. i do think the government will step in and slow it down again all of that then has a ripple effect these commercial real estate owners and ultimately reits and so forth are seeing nonpayments. that's going to be a big problem and it's going to ripple through the financial center we're not looking at this as a financial crisis, but what happening when you have the mark to market finally if there's no income flow from the ripple effect you have to look at the steps and the chess game you know, it's worrisome, kelley. >> i'm also curious what you think could forestall us going down the path. merger -- what kind of intraday moves could we see that the weaker players could find a different option

>> this is what economists look at they say the weakness was there pre-covid. wants to see the weak players taken out, so the capital is released, and you invest in the more productive developments over the long run, you look at and go, this is a good thing to happen if you're a jobholder or one of these debtholders, it's not a good thing i think what we i have to do i think this is why the fed is stepping up, saying we're going to use our balance sheet, and every tool that we thought of, and some more we haven't thought of i think we also need more help on the retraining and the unemployment side, not to make it more, you know, more productive to stay at home, but to make sure, you know, we keep the jobs in the system as we go. so i think, you know, more of the sba loans and so forth to keep these companies going through what would be a prolonged shutdown, kelly. >> we didn't talk energy, but

the oil and gas count a record low for the ninth week steve, thank you, sir, and appreciate the thoughts and creative solutions here as well. >> great to see you. >> steve odland with the conference board. are more restaurant closings coming and which stocks are most at risk from that we'll ask. plus in just the last hour, the senate joining the house in passing a bill targeting banks over china's hong kong security law. is it just the start of u.s. action what does it mean for investors? we'll have that. you can always watch us on the go "the exchange" is back in a couple stock slices.

for as little as $5, now anyone can own companies in the s&p 500, even if their shares cost more. at $5 a slice, you could own ten companies for $50 instead of paying thousands. all commission free online. schwab stock slices: an easy way to start investing or to give the gift of stock ownership. schwab. own your tomorrow. welcome back to "the exchange." let's check off the markets, we're well off the session highs. we're up better than 400 after the jobs report for june initially hit the tape, much

better than expected, but the optimism has moderated, just under 0.9 of a gain for the dow. similar for the s&p. the nasdaq composite is the outperformer today that's definitely a theme, back up to 10,270 let's check on the sectors energy is actually the outperformer today up 1.5% pretty much everybody else is up fractionally. real estate is the only sector in the red now, and it's coming off a pretty strong run of late. tesla up against with a big beat on second quarter deliver yes, sir with mo ies. the stock is up 7.5% today it's up 25% just this week meantime, china-based electric vehicle maker also up higher today, also with reportedlyies in june.

is more than 10,000 for the second quarter the shares are up 17%. and docusign getting a price target high from rbc, expecting a disproportionate share of the workflow digitization market over to sue herera for our cnbc news update. here's what's happening at this hour. squloib join criticizing president trump's report on jobs, despite better than expected data out this morning. >> we're still in a deep, deep job hole, because donald trump has so badly bungled response to the crisis, and basically has given up responding at all millions would still have their jobs if donald trump had done his job. governor kelly of kansas

issuing an executive order kansas is among the states reporting new dayses as the daily total tops 50,000 nationwide nine more nba players have tested positive for the coronavirus, and the league plans to resume its season on july 30th. a still developing story you are up to date that's the news update this hour back to you, kelly. thank you very much. the senate just joined the house in passing a bill to sanction chinese banks. the bill now goes to the president for his signature. could it be the death of the city as we know it joining me is michael shuman, author of the new book "super power interrupted" the chinese history of the world good to see you, michael what do investors need to know

>> what investors no ed to know is a hong kong we have known, a hong kong that's been a maybe financial center in the world is kind of eroding before our eyes. what makes hong kong hong kong what has made this place work? it's because it's had rule of laws, independent judiciary, free flow of information, stuff you can't get on the mainland. remember 15 years ago there were experts predicting that shanghai was going to take hong kong's place as the international financial center it in happened it in hand, baud hong kong had what shanghai never had. those things are going to go away do they want to operate in this environment going forward? that's the question. >> i get a couple different responses when shall issue comes up some says hong kong will be fine, this is all a lot of

hoopla, give it a few years and nothing much will change another thing is, all right, we'll go to singapore. no one is that concerned about hong kong itself, or they think that it's going to weather this, and all the -- the path it's taking is being exaggerated. >> look, i mean there's not going to be a stampede to the airport more, people packing up their desks and making a run for it think about what this law means, bringing in an arbitrary rule that you have on the mainland. i think the biggest risk to business here is really the loss of talent. what are hong kong people going to do when they have grown up in an environment with certain civil liberties? they could educate their children well. are they going to stay here? the uk and other cunning are talking about opening their door to more people from hong kong to

emigrate, so i think all these companies count on to run successful businesses here may not be there in five to ten years. >> it's really sad for all of those who say tough for hong kong, but why should i get involved this china's domestic politics? china plays this issue out very effectively on the national stage, even in regards to the whole nba issues they say this is our business. if you don't like it, tough, it's not your problem. >> yeah, you can easily say why do we care about a city of 7 million people around the world. i'm hoping this is a wake-up call, particularly in the western democracies, if you're divided, if you're not focused on these bigger issues on a global basis, that every time you step back, every time the u.s. steps back, europe steps back, the chinese will try to

fill that space and they don't share our values i'm hoping hong kong may be a turning point. the west has been divided amongst itself, has not gotten together in the way it needs to to stand up to china on these issues, to see what's going on, and we have to be ready for the next battle. maybe we lost this battle, but we'll have to be ready, and there will be mortgage battles the chinese state will want to expand its influence in this ways you look at the response by most of the american public to what's going on, and you wonder if we would have the stomach to step up in some kind of confrontation with china as it relates to taiwan >> i think what hong kong tells us is from the perspective, they have calculated that the u.s. and its allies don't have the stomach for these fights maybe taiwan will be different

obviously that's a very different relationship, as you mentioned, between taiwan and washington than there is with hong kong. what hong kong tells us is beijing thinking it can break international agreements, basically do what it wants, and ultimately the west will make a lot of noise and put on a few changeses, but ultimately not do what it wants. there will be other red lines. taiwan may be the next red line. this is a decision that washington will have to make -- are we ready to do battle with china? i hope washington is ready to do battle, because they will come >> one final question. what happens after the fall? do you get a sense china has a preferred candy one way or the other or the u.s. policy towards china will change significantly? >> it's hard to know what the leadership of china is actually thinking i'm sure they're watching it very, very closely on the one hand they've had a

rough go with donald trump the last three years at the same time, you know, trump provides them with nice opportunities. he doesn't really pay a lot of attention to what's going on in asia he's not personally interested in some of these hume rights and geostrategic issues. to a certain extent, he's ceding space to china to fill in. china obviously finds that very positive for its interests long term in that way a democratic presidency, where you have joe biden just talking about working much more closely with allies in a coalition against china. that actually sounds much scarier to china if you really have the world's democracies gang up on china and try to isolate china and try to force them to change some of these practices, that may be scarier than what donald trump has been doing. >> interesting michael, it's been great to have you. thank you for all your thoughts. >> thank you. he's author of "super power

interrupted, the chinese history of the world." moderna shares are tumbling on reports that one of the keyed trials is being delayed. the company denies it, about yo it may have wall street wondering if there are deep-seeded issues we'll have more, next. stay with us just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that

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welcome back to "the exchange." shares of moderna have nearly tripled this year. despite not having a single medicine on the market, "wall street journal" looks at the man at the helm of moderna's company. i'm joined by one of the

reporters behind the story greg zukerman, senior writer at the "wall street journal." >> great to see you. thank you for forcing some he to shave this morning that's great. >> we'll take the bearded look. >> next time next time. >> let me start with the culture of relentlessness, which may sound like a great thing, we have the amazon approach why is it a double-edged sword in moderna's case? >> a lot of people make the comparisons, with not kinds of entrepreneurs and executives there's a lot you don't want to cross. you want people to be working hard for a common cause, and they have a unique culture, from stefan and others work very hard that it's a relentless, difficult environment, long hours. he pushes them, calls them out if they thinking they're slow, he tells them as such. that can create real progress

and even breakthroughs if they're the ones who bring us all a vaccine, we'll be thankful for that unique, difficult culture. >> you're referring to the ceo, but some of the other red flags is 20-plus experimental vaccine. the issue with the stock at all-time highs when they did a stock sale, the fact that insiders had been sellers of stock. these have been traditional red flags. what do you say -- >> sort of a battleground stock. after we wrote the story, i should see the e-mails i have received people who are very supportive and encouraged about their progress, and other people that think they're -- and they're overstating things the company addresses all the points they say the stock sales were all pretty much preplanned

you don't want to read too much into them, and say, hey, yes, we haven't produced anything yet, but we have made advances. the skeptics will say that's not enough over 20 drugs, as you said, and they still haven't produced one, so it will be fascinating to see if they're one of the ones and they are one of the front-runners. >> you even have some history about fund-raising going back a few years. you had some and they were less transparent about the progress on various drugs what were the company's responsible to that be have they changed or improved on that front >> they pushed back on that point. they say they were pretty transparent. they say there was just so much they could do. >> it is interesting -- and talking about -- with

merck and other companies that encourage the bulls. who have been on board for a long time, and mutual fund type of people. a lot have been skeptical, and frankly have been selling the -- so it's a fascinating, super-smart outer type of investors and some of the skeptics, do those speak to to think that moderna could actually development and come to market as quickly as they promised with the coronavirus vaccine >> no one really thinking by the fall, except for -- we have to be realize tick, they're doing now a phase three trial of 30,000 patients, subjects, so i don't think it's really -- do

anything near term, but again in the fall, you may get emergency use of this -- and you could argue that that would be enough to reassure us in a lot of ways, take care of potentially or address any potential wave even competitors, who think their strategies is an interesting one. it's nrna, which hasn't been proved yet, and if they can prove it, it will open a whole world to potential new drugs, but you still have to be kept kale or at least raise questions. >> final question. what did you make of the news, it's been playing out, stat news said their trial was not -- what stats news is said their plan for july 9th, they are still plans to begin this trial by the end of the month >> the company is optimistic by nature that's how you get things done

in the world protocols often change you don't want to get thrown by the fact it's moving a week or few days or even a week off, but they could-looking their front-runner status. they're going to do their own trials with the government in august and september so it is a new challenge i wouldn't get too worked up about it, but you have to keep an eye on about it >> great to see you again. greg zukerman from the "wall street journal." coming up, if you've been waking up in the middle of the night to the sounds of fireworks, you are not alone more people using the product, sounds great for the industry, right? not necessarily, they are facing big problems jane wells is here with a closer look at the new normal for them. jane >> yeah, kelly, they're running out of inventory a banner year for fireworks unless you put on display. up next we go inside the military bunker, one of the biggest display companies in

american monghere, or here, when we come back

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welcome back the fourth of july may have fewer fireworks this year, but people have been setting them off illegally all over the country for weeks now. i'm in -- these are legal fireworks in alhambra, but stop me if you've heard this one -- >> well, americans are beginning an early jump on the fourth of july some of these are not legal, and that's why business is booming and supplies are running out while business is good to consumers, it's terrible if you

put on the big displays. we met its president in a military-style bunker where they keep the goods >> 2020 was shaping up to be the biggest year we ever had >> reporter: covid has forced the cancellation of 90% of businesses millions of dollars lost with a bang >> normally i would be sitting here this time of year saying we're getting ready to stage had 00 shows, 400 trucks and performs, getting ready to celebrate the fourth of july this year we'll be lucky if we do 10%, or 40. >> reporter: his is a fifth generation business, and he qualified -- he got $150,000

loan, he says which will get him through august. >> it's interesting, jane. anecdotally, everyone around here seems to be talking about maybe trying fireworks themselves it's going to be a scary weekend. >> reporter: it is it's two different businesses, really someone like jim souza's company doesn't sell directly to consumers. he can't pivot he's trying to petition congress for aid. his fear is that all the cities and sporting events that canceled fireworks shows this year, when next year come around, they think, maybe we don't need to do that anymore, and natural be devastating, even assuming he can survive until next july. >> this might be a bad idea in the first idea, but it's demand. >> reporter: it's different. tnt is doing great, but pie robe spectaculars by jim souza where they do 400 shows, a term, term

year >> jane, thank you so much it's great to see you. jane wells for us, we appreciate it. mcdonald's pausing plans for reopening. will others follow suit? and who is in the beposition to weather the storm? a restaurant reality is next the mobile-based insurance company going public today, priced botch the range of 29, opened above 50. it's over $60 right now. here's the ceo on "squawk alley" earlier talking about their plans. >> a lot of head room ahead of us we've been starting off with renters, homeowners and condo insurance. we've made it public we'll launch more insurance soon we'll endeavor to fulfill the expectations as quickly as we possibly can

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welcome back to "the exchange." airline stocks are moving higher, after five reached an agreement with the treasury. part of those terms include no layoffs through september 30th what is to come after that is unknown. in fact, american airlines telling its staff it has more than 20,000 employees it doesn't need for the fall schedule american's shares are the only ones in and out in the green right now. from the skies to the fries. mcdonald's is halting reopening plans. the fast-food giant says it will wait three weeks before any new restaurants can add dine-in and takeoff to its services. franchisees can decide whether

or not to keep them open currently only 15% of mcdonald's dining room are open right now good to have you both here r.j., i'll start with you. ca >> yeah, i think they can. this is company in one of the strongest positions in the restaurant industry. they have a great value proposition. more than 70% of their transactions happen in the drive through. they won't be the only one the consider repositing is reopening plan i think mcdonald's is first to make this announcement >> they could lose some market share but they can be kind of giving everything cover for making this same decision. i'm curious about the shift we might be seeing the the fast food players might have the

strongest throughout coronavirus. that was starting to shift i wonder if we'll see a reversal of that now? >> the players that have been the strongest, we name them all the time wingstop, chipotle, papa johns and dominos. as rj mentioned, mcdonald's does a lot of business through the drive through. it's the first major chain we're seeing say we're going stop. we're going to pause and asays what this means. back in march, we saw starbucks do that. they decided to close down their indoor seating and dining. the rest of the industry followed suit. we'll see more of that and bigger companies putting things on hold as the case numbers continue to climb around the country. >> imagine we're still going to see a big macro effect from that even though it's happening kind of company first instead of by the authorities. i want to ask you about something that was big news yesterday and surprising to me

pizza hut's largest u.s. franchi franchisee filed for chapter 11 bankruptcy rj, i thought that pizza delivery, granted pizmispizza hs dining rooms, but why chapter 11 who you did it get so bad for them >> it was in a challenging position even before it was already a situation the company was over levered had a lot more sit down locations than the delivery carry out model that we see from domino and papa johns. it's in a week position financially. it's a week position com competitively. no surprise they filed for bankruptcy the pizza category is on fire now in was the underperformer.

shift some of them to better performing locations and what they are looking for in the category that delivery carry out model doesn't work now i think this is a positive mood. >> that's super interesting. we're showing shares of wendy's as well. they might be able to work this to their benefit you have theeds companies starting to add workers back and getting ready to open the dining rooms now putting that on pause. it's the yo-yo that tilman was talk b about yesterding about y. what happens to the workers now? >> we're still millions below pre-pandemic levels when it comes to restaurant employment from march through may, 8 million jobs were lost or workers put on furlough. we have seen a lot of big hiring announcements from taco bell,

dominos. some of these players were doing better than most mcdonald's had the biggest hiring announcement of too,0250 workers. whether or not this puts their plans on hole remains to be seen >> absolutely. run us through, if you can, the space and where you think investors should put their money. starbucks is your top pick who else do you like who should people stay away from >> i like starbucks. the way to think about this category now are not only the winners but how the winners will take shape and which categories will be the most stressed coming out. it's no surprise sit down restaurant, casual dining, fine dining will be disrupted i look at a player like garden starbucks is interesting because they've had to reclose they have seen some weaknesses

less morning commuters and less people coming to starbucks 50, 55% of the locations owned by operators with three or less locations. we'll see a lot of shake out in that industry. who will be wait on the back end of that to pick up the market shares it's going to be starbucks they have a great digital platform mobile order and pay system. i think that sets up well for this company there's going to be a lot of ups and downs and this is where you have to look longer term and withstand some volatility. the demand we saw pick up in may and june will subsides a bit in july and august for either reclosing, macro reasons or operational issues i want will not be easy to reopen

>> absolutely. kate, real quickly when you last checked in with people survey wise, what's going on in terms of consumer interest and these restaurants? >> our own cnbc survey went down in terms of the number of people who felt comfortable design dining out npd group, restaurant transaction data reversed. it was down by 12% still negative the last survey, this week it was down by 13%. they had seen about ten weeks of positive improvement people are feeling less and less comfortable. >> all right there we have it pretty full picture of what this industry is facing thank you both greatly appreciate it. want to get a quick news alert on boeing. phil has the details >> there's a report out of bloomberg that boeing has tried to pull the plug on its 747 program. we have reached out to boeing. it says it's still continuing

the meet its commitments on the program and has about two years worth of orders. if the 747 is ultimately scrapped, it won't be a surprise what you're looking at, kelly, is a plane that has had fewer and fewer orders over time the day os of the jumbo bet, they're past while this report is not going to move the needle for boeing, it will make those who love the aviation industry a little sad when the day does come that boeing will pull the plug on the 747. no confirmation from boeing but it won't be surprise if this is the case they have very few orders left for this plane >> stock coming off a stronger run up about 20% in the past month. phil, thank you, sir we appreciate it that does it for the exchange today ahead on power lunch, it's the class of covid-19. we speak with an education expert says it's a health risk not to send kids back to school this fall. the quick off right after this quick break. we're going through a really tough time right now,

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welcome back, every one. i'm tyler mathison this is power lunch. all three of the major averages are higher a t this hour the dow is off the highs but still up more than 200 points. the nasdaq hitting record high as it gains about 1% that is as 4.8 million jobs were added in june. way above expectations and that brought the unemployment rate down to 11%. no one beats expectations quite like elon musk and tesla that company delivering nearly 20,000 more ca