health care. >> new high today. shannon. >> accenture still need consultants >> also a new high today megan. >> quality etf durable earnings, low leverage, paying up a little bit but worth it if we hit some turbulence >> rob >> xlv, the health-care related etf. one of the best ways to begin playing defense. >> alice in the center square. i'm kidding. guys, thank you very much. we'll see everybody tomorrow that does it for us on "halftime. "the exchange" with wilford frost begins now >> brian, thank you very much. i'm wilford frost in for kelly evans today. the nasdaq topping 11,000 with fan names tesla and semi leading the sector to dizzying heights

an earning season without guidance, and the rising number of covid cases, though, bring the markets back down. plus, more signs of the reopening is slowing down. details on what carnival is doing with its fleet and how disney is dialing back its theme parks reopenings starting this week and all of this trading of stocks during the pandemic isn't just because we're stuck at home and we have no sports to watch the biggest reena coason accord a new study. that's coming up but here's a summary of today's action press bob pisani >> will, we may be able to break out. we have all the sectors in the s&p 500 up today, three of them advancing declining stocks, but i want to concentrate on that s&p 500. 3232 is the particular high for

this cycle june 8. if we close above that, we'll be at the highest level since early february when things started falling apart. pay attention to that level. rarely do technicals matter in that kind of market. i think people watch to see if we can get over that 3232 level. tech is powering forward again those new highs. rarely do you get new faang names, including microsoft, at new highs. amazon, netflix, alphabet also at a 52-week high. semiconductors, as wolff mentioned. lows, for example, costco at 52-week highs. as wilford mentioned, we're entering earnings season companies have not provided guidance and they're not inclined to provide guidance as we go into the third quarter we had some early reporters, general mills, macy's, capri,

constellation brands, and this morning pepsi came in with numbers a little better than expectations, but they, too, pepsi said, sorry, things are too uncertain for us to make a decision and provide any kind of guidance for you so what's happened, without company guidance, the analysts are kind of adrift here they're all over the map the aspersion between the analyst assessments are discouraging because they can't figure out what to do without guidance here. we've seen closures here potentially, and that's upsetting to the earnings pictures wol wilfo wilford, we start tomorrow and i'm sure a lot of people will continue with no guidance. >> when you see banks reporting at 6:00 a.m. or so, that's when j.p. morgan kick things off.

two of the vaccine candidates have been fast-tracked by the fda. meg tirrell joins me live with the latest on that hi, meg. >> hi, wil fast track designation is just a marker that the fda has decided this is a product or two potential products that are worth expediting through the review process this is two of four, pfizer and biontech, for vaccines for covid-19 of course a coronavirus vaccine, especially one which shows promising phase 1 results as this one has, would be favorable for the fda. a shared reaction is for folks who know what this designation means saying this is an important product to get through quickly. it is a reminder this is on track, pfizer saying they plan to start a late-stage 35,000 clinical trial by the end of this month which would put them

neck and neck with moderna, and potentially set them up, if all goes well, to apply for regulatory approval this fall. moderna also has that fast track designation. they've all been tracked to move through this >> what about the spikes in certain areas? >> these numbers in the u.s. continue to be staggering. we're up near 60,000 cases every day being reported in the united states, record numbers the test positive rate has also been increasing from a few months ago, showing that we do have more infection. we are not just testing more several states reporting records, of course, florida the most notable more than 15,000 new cases in florida reported yesterday and more than 12,000 reported from that state today you can see texas and california there also among the states reporting the most evercore isi spoinpoints out th5

of the population lives in states seeing growth in cases, and 69% live in states seeing growth in hospitalizations so this is a situation that's bad and getting worse, wilf. >> meg, as always, thank you for that how should investors prepare for an earnings season without guidance as the country continues to face a covid spike? gina sanchez and cnbc contribut contributor. very good afternoon to you both. gina, i'll start with you. clearly markets are able to shrug off possibly very big declines in earnings and spikes in cases can you find a legitimate justification for that >> i think the market is really pinning this on hope, hope that by the time we get to the fall that we will have some kind of control over this in some form, whether it's effective

convalescent therapy and/or a vaccine. i'm not sure that is necessarily possible i know that there are a lot of drugs being fast-tracked, but if you look historically, that seems to take a long time to develop, even given the amount of sources and development we're putting into this. the market are priced as though things will work out in the end and are not recognizing the fact that short-term stimulus is starting to wear off, ppp is now coming to its end. we're starting to see -- you know, i think that the fall in unemployment claims will be met with another rise later in the summer, and if we don't get this under control, even though we may not lock down, we will certainly see sluggishness in the country. >> for those stocks leading the market, those tech stocks, is there a feeling that momentum gets derailed as people are

reminded of the population thereon, or is it right to suspect that momentum can continue to drive those stocks higher >> we're actually seeing a momentum in hope, as gina said right now there is the hope and the expectation that everything is going to be okay. we'll get the estimates for earnings next year basically we'll be back to 2019 which says that everything is going to be fine right now, although we're on track, we're starting to see the data soften. so i think certainly when some reality gets injected back into the market, even for the best companies, the prices might not be worth it. >> gina, what about underperforming value stocks, could earnings be a bit of a spot for them to recover >> that's been the entire thing about this experiment. what has been sort of sailing us through and keeping the economy going in some way have been

technology names, communications names. that has been what has kept the part of the economy that is continuing to operate operating. so i don't think these are necessarily overly expensive here, and i think it will be very challenging for some parts of the value universe, like financials, energy that are dependent on, for example, a steeper yield curve or more demand those stories aren't there yet that's not to say they aren't terribly undervalued in their own history, but right now what is probably going to get us through is, strangely enough, going to be the overvalue of names. >> brad, do you think it's worth owning u.s. bank stocks into earnings tomorrow? >> i would wait until after earnings, because we don't know what's going to happen but when you look at the financials, there is a tremendous amount of bad news baked in i look at the sentiment and i look at the fact that large parts of the economy are still

operating will still operate regardless i think there is an opportunity there long term. >> gina, if we do get to the point when a tesla or netflix or apple rolls over and this performance stops, will it drag the entire market down or will it be stock-specific >> i think it actually could drag the entire market down just because those stocks in that segment of the economy has become such a large component of the s&p right now that if you see a breakdown in momentum, you will see sales in etfs, not in individual stocks, and those etfs will sell everything indiscriminately, and that has been one of the challenges of this market is that people go into individual names when they're optimistic, but they tend to sell the entire market when they're pessimistic i think the entire market could take a hit >> brad and gina, thank you both for joining me >> thank you still to come, they are some of the most disliked stocks on wall street, but my next guest

said they shouldn't be plus what peopy people stard trading during the pandemic, and it's not because they have more time at home and a cdc investigation. this former new hampshire governor says merrill lynch cost him more than $100 million the company says he should have known better cnbc's investigation, trading on trust, coming up introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. snhu let's you transfer up to 90 creditsty. - [announcer] if you've tried college but never finished, toward your bachelor's degree.

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welcome back we are holding session highs up 48 points on the dow s&p 500 and nasdaq both up 3%. some of the stocks on wall street are also the most expensive ones, but let's have a look at some amazon is at a whopping 440, seven times earning. chipotle also another expensive member of the four-figure club it's trading at a premium.

forward 129. and zoom is up 192 times my next guest argues it may be time to bet on some underdogs of names that may be flying under the radar. let's bring in alan barron thank you for being here >> thank you for having me >> it looks like a sports field behind you or something. anyway let's get some of these picks. first up, you've got for sally beauty holdings. tell us why you think it's a good time to buy that recent underperformer >> this is my work from home setup these days the sally beauty, you know, what we did is we started looking for some of the most hated stocks. we all know the performance like you just mentioned, the amazon, some of the more popular stocks and we said let's look at the most hated one of them is sally beauty and it is a pro distributor, a products distributor, the pro

also has about a thousand outlets. also some concern over amazon, but when we dug in we thought, it's a pretty consistent pre-cash generator, and with a lot of these ugly companies that we called, if anything goes right, you know, things can improve. with a single digit ppp ratio, that's one we liked. we thought the amazon was a little overstated and things could go well with this company. >> if we see more vessels, is it in trouble >> definitely partly tied to reopening. however, one of the reasons the stock has underperformed is really this fear that amazon was going to disrupt the beauty distribution environment, even in the pro sector. so these are people that are mixing their own color and doing your hair. what he with found out is that really isn't the case. the pros still like sally

beauty, don't like necessarily shopping for their color on amazon.com so they had -- so sally, you know, it's partly a realization that, you know, the earnings are a little, and cash flow especially, are a little more stable than people expect. so opening definitely a catalyst, but some decent underlying trends that could push the stock forward >> in your top three you've got another retailer in there. tell us which one. >> yeah, michael's i am a little bit obsessed with finding retailers that are somewhat insulated from the amazon effect. michael's qualifies, sally beauty qualifies the thing about both of those is there is a level of interaction required that you can't always get online, and in the case of michael's, they're crafting, obviously, and they just hired a new ceo from walmart who is involved in merchandising. he wants to focus on, you know,

experiencial type of things and helping crafters with whatever they have. there is something that's a little bit hard to d disintermediate. that's one that i like >> the last one is a computer name but hasn't performed well, surprisingly >> no. and it's funny, when you're looking through the bad or the ugly stocks, as i named them, and you talk to people, it's not really difficult to get the bear case on any of these oftentimes when you're looking for investments, you're wondering if you'll look through rose-colored glasses in the case of blackbaud, they do the sales for profits a lot of new seems and nonprofit organizations are struggling in a covid-19 world, so there is not a lot going well

however, they still have high market share, perhaps there's an opportunity for an activist. it trades at a steep, steep discount to other software providers. so i thought, you know, how bad can it be? you know, this isn't -- a screen for the most beaten-up stocks are not the end all, be all, but good things can happen for the cheap stocks >> thank you a close look at how canada is handling the pandemic what's gone well and what hasn't and what the u.s. may be able to take from it hong kong disneyland set to close again due to a spike in coronavirus cases, this just as disney world opened its doors in florida. is it headed for the same fate we have a look at that "the exchange" back in two minutes. my name is janelle hendrickson, and i'm an area manager here at amazon.

when you walk into an amazon fulfillment center, it's like walking into the chocolate factory and you won a golden ticket. it's an amazing feeling. my three-year-old, when we get a box delivered, he gets excited. he screams, "mommy's work!" when the pandemic started, we started shipping out all the safety stuff that would keep the associates safe to all the other amazons. all of these are face masks, we've sent well over 10 million gloves. and this may look like a bottle of vodka. when we first got these, we were like whoa! [laughing] with this pandemic, safety is even more important because they're going home to babies, they're going home to grandparents. so, our responsibility is to make sure that they go home safe every single day.

welcome back to "the exchange." stocks up higher on the board. the dow is up 524 points, now over 2%. s&p and nasdaq both up around 1.5% the nasdaq set another interim high it's also on pace to set a record close the shares of moderna climbing high as the nasdaq announced it will add the name to the nasdaq one week from today. and moderna is up, as you can see, by some 20% today quest diagnostics better in this second quarter covid-19 tests one of the reasons for that that stock you can see up 5.5% and tesla hitting another intraday high. it was up 50% at the height of the ecession it's still up 10%, parred back

little bit this despite the company saying it had a price cut the stock is up 600% over the last year. time now for a cnbc update sue herera has it. >> good to see everybody here's what's happening in the last hour. governor andrew cuomo said people traveling on a plane in the quarantine list need to disclose where they're staying so they can give a mandatory quarantine report. >> fool me once. we can't be in a situation where we have people coming from other states in the country bringing the virus again. it is that simple. again, port authority will do the enforcement in downstate new york the other airports will do it in

upstate new york >> reporter: george soros' open society foundation is pledging $220 million to fight racial justice. the money will be distributed over a five-year period to a wide range of organizations focusing on issues like inequality, police reform and voting access. you can get more on that story going to cnbc.com. you're up to date. wil, i send it back to you coming up, disney opens one park this weekend and that is the closure of another today according to pepsico, salty snacks are the pandemic winners. that and more in today's "rapid fire." that's next. this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows?

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welcome back the dow is up 2% cnbc today starting a new series looking at how some other countries are dealing with the covid-19 crisis. first up, our neighbor to the north. as you can see from the curve, new cases there have been falling since early april. they hit a new low this past weekend with just 198 cases reported on sunday cnbc health reporter krissie farr join us to talk about some things that set them apart from the united states. krissie, thank you for joining us what are some headlines on canada with how bad they got initially and where they are now relative to that was it a national crisis or regional crisis for them >> canada has had a big response from its neighbors

they reported on just a few provinces and that was ontario and quebec they had an amazing covid-19 response in british columbia it really could have gone very badly there considering some of the first cases were there, but they had such a strong public health leadership, very consistent messaging from dr. bonnie henry who has really become sort of a cult hero in canada people love here she's very em pathetic, has been encouraging people to follow the public health guidelines gets emotional when talking about covid-19 and she's always reminding canada to support each other during the crisis, be kind to each other. just a very different reaction in canada and they've had results very different from ours, far fewer deaths and far fewer covid-19 cases overall >> did the national aspect to some of their spending make a difference whether that was actually on the health care side or on the economic side in terms of preventing unemployment,

perhaps, leading to as big of a pullback in the economy? >> actually, yes, and they have been praised for their economic relief packages. it hasn't been entirely perfect. there have been delays just like in the u.s. with receiving any kind of assistance but overall it's been a fairly robust program in terms of the economic side. then they do have more of a health care system than we do. it's still kind of a combination of public and private. and from that, i just heard kints consistently through this reporting that they've really seen kind of a lot of very brave providers. there was initially some concern about protective equipment but that seems to have been solved they've really gotten their domestic engine running when it comes to manufacturing they've done a very good job there as well. the one big failure, though, has been the long-term care facilities, and that is a system

that people have been saying for years need more funding, need more staffing and some of the worst outbreaks hit there and really hurt their vulnerable, elderly populations. that's something canada will have to look at in the long run. >> christine, thank you for fa and a series we'll be unrolling on cnbc.com in the next few days let's look at your radar it's time for "rapid fire ". leslie picker, john clark and seema. disney announcing it will close its hong kong theme park on wednesday, july 15 due to a spike in cases this comes after disney world florida just opened over the weekend. we're joined with this particular part of the story

ju judy, what can you tell us >> it's being required by the hong kong disney authorities to temporarily close hong kong disney on wednesday, july 15th the hotels will remain open with adjusted services. no word on when they will be able to reopen that park again this comes after disney world reopened this past weekend, welcoming thousands of guests. no word on whether they'll close their park if disney cases continue to spike. goldman sachs initiated coverage of disney with a bye rating and price target on the stock, saying it expects the park figures to fully recover after covid, and that the streaming businesses are underappreciated. wilf >> it's such an interesting snapshot, the fact this is all taking place in florida, which is a state that's continuing to

see cases rise and spike, yet they reopened regardless in one case it's quite encouraging and it's perhaps what the stock market is reacting to in general, that we can just plow on >> it is encouraging, and i think if anyone can do it right, it is disney they just have incredible protocols there and they are a model, in a way, for the rest of florida to perhaps follow some of those protocols and get those numbers down but it reminds us how important theme parks are to disney. we think of it as a content company, but 37% of its revenues come from theme parks, and that is why there is such this imperative at disney to open perhaps regardless of the context of cases in florida compared to hong kong. >> the hong kong one shutting down, a reminder of how carefully they have to play it seema, i guess a lot of companies you follow so closely will be watching whether disney can do this well with very close attention. >> absolutely. it kind of speaks to this balancing act that entertainment

and hospitality firms are really trying to conquer which is reopening their hotels or properties, but at the same time prioritizing safety. there is one analyst that called the disney reopening the ultimate economic bellweather because it tells you a lot about a consumer's willingness to not only spend money on a vacation wherever they are in the world but also to be in close proximity with other people. >> i guess these stocks have been hit much, much harder than disney stock has it's off its highs of 150 but well off its lows of 80 as well. i guess the hedge funds are aggressively trying to short this one or play it as an aggressive stock >> maybe not disney per se, but there is definitely a basket of hedge funds we're looking at that are reportedly pulling back

on those trends. cruise ships, for one, are definitely in that bucket. i think you're right, disney is a little bit more diversified and it's something that if they were shorting it, they would be shorting it perhaps on valuation more than anything goldman sachs, highlighting those sare directly tied to whether they can reopen again. >> shrugging off that headline on the hong kong park. >> i think the stocks are moving higher on that goldman sachs note and the idea, that confidence that disney studio and its theme parks do have the potential to fully recover. there are so many questions, still, about the theatrical movie business we're waiting for theaters to reopen, we're waiting to see if disney has to delay their

"mulan" yet again. but there is a long-term goal with this company. >> netflix has a different set of reports on thursday and is up 75% year to date pepsico shares are topping estimates. they have a big bump in sales from their frito-lay business. they talked about how the reopening of the country will impact the company >> the snacks and food business very much benefiting from people eating at home beverages doing less well. at the end of the first quarter, you saw snacks sustaining well we feel we're about a perfect hedge in terms of we benefit from lockdown, we benefit from people becoming more mobile

again. ly. >> by the way, while pepsico has reported a $400 million hit from virus-related costs, they should diminish moving forward. seema, a standout in that interview was chinese sales up 30%, german sales up 20% and their correlation, handle the virus well and you'll see consumers coming back. >> consumers want to go spend more money whether it be on snacks or cruises or a ticket to a disney park. the interesting thing about snacks, we've been debating the interest part of covid and whether snacks are here to stay. i can certainly attest to that when i work from home, snacks certainly play a big part in my day. >> particularly the salty snacks, i think they were saying was especially high.

leslie, this shows how people are really meant to value these stocks >> exactly they talk about the unpredictability and the volatility in the sales, especially when you see certain parts of the economy opening up, how it talks them down it's really hard to predict for future trading and this snacks division, and whether, one these economies do start opening back up again, do people continue to eat fritos if you're stress-drinking during a pandemic, you're probably not opting for pepsi, you're probably opting for the wine instead in your fridge >> but then you need the pepsi in the morning to get you going again. the caffeine plus sugar, i think. >> robert, where do you stand on this in terms of snacks we're all saying, because we're being

greedy i guess quake quaker is up 23% >> quaker up 23% hue johnson was saying, yes, we're on the healthy side. it's interesting when you compare coke and pepsi, and i was covering both companies, and the existential argument about whether it's better to have a basket of food and beverage or just well-played above and there is this stay-at-home element we are told that wework is on track for profits and

positive cash flow in 2021 they have agreements with mastercard and citigroup i they fell to $3 billion in march. it's not a full release from them but certainly the tone of it was positive, what we learned from the interview in the "financial times." you can see how,s during the pressure trend, if people were downsizing and getting rid of that full building, the sector of shared spaces could benefit >> yeah. look, on the one hand, this is a company that had very long leases they had taken at the peak of the market at very expensive rates, and they had a lot of their customers, their own clients, they presumably weren't paying it was a sign of just how much

this is a much smaller company what is the growth plan? and that's beyond the occasional office that may be sort of expanding because they need more space. i just don't know what that proposition is right now >> they've certainly cut costs in the mean timt other crazy situation we have sheer skp chair man and reminded me there was that level of overlap in terms of the management. adam newman is the person who will be watching that most interested >> absolutely, because that's what helps determine his pay package.

i think what's interesting with regard to wework, it's flight and it's ability to become cash flow positive. to rogers' point, is it about how it will capitalize in this era of covid, companies are deciding whether to reopen their doors, but my question is whether their company is liable if an employee gets sick at wework citigroup is one of the companies that's been doing this if you're at citigroup, does that kind of pass on the liability for your employees getting sick i'm not sure, actually >> yeah. it will be an interesting deciding factor, i'm sure long term for them, if they have later costs.

a rare positive update on wework finally shares of carnival low after a plan to cut its fleet by about 13 ships, about 19 before capacity tm nice cruise lines through until about september here seema, it's up but was down on friday they're a long-time winner you can read the sdmoet say it's on the other side. >> with carnival one of the three cruise lines, it's burning

billions of dollars a month. it has ports, it has private islands. they'll probably hold onto those private islands. it's one way they can control the virus. in terms of ships, who is going to buy a cruise drit would be fm each vessel. it perhaps would be a european cruise line that would resume sailings before u.s. sailing, so that's something to watch as well this will definitely be something to watch going forward. >> perhaps one of your billionaires who gained significantly in health this year who wants a seriously, seriouslily. >> he could buy a carnival

cruise hip and respected he could buy one with today's gains. >> he would need to make it electric, though those cruise ships, they burn off a lot of fuel. >> you need a big battery for one of them. guys, thank you so much. leslie, robert and seema, my pleasure a big brokerage firm made unauthorized trades costing tens of thousands of dollars, but he's just trying to shift the games. plus session highs remember. back 50u7 points or so on the diaw points or so on the diaw.7 diaw do w.

welcome back we had a new session high which is 548 on the dow. state regulators in new hampshire investigating unauthorized trading on a huge scale by at least two former brokers at merrill lynch it is a story cnbc has been investigating for some months now. scott cohen reports the biggest alleged victim is none other than a former governor of that state. >> i certainly didn't sign a document saying it's okay to steal from me. >> and that's what you're alleging happened, that they flat out stole from you? >> that's right. >> craig benson is a man of man accomplishments. >> i stand before you today ready to serve as your next governor >> reporter: before becoming the 79th governor of new hampshire, he co-founded a network company in the early days of the

internet he has an mba and he teaches business one thing he is not, he says, san expert on the market >> i know a balance sheet, i know an income statement, i know cash flow. i have never been a professional investor i've always asked other people to do that for me. >> reporter: benson and business partner robert levine, founded their company in levine's garage in the 1980s >> i wanted a refrigerator and freezer. bob wanted a little more than that we thought we would sell a few things and be done >> reporter: the company went live in 1989 and the company took off by the time benson had stepped down in 1999, they needed to invest kavanaugh introduced them to his partner at the firm, charles

canahan. for a few years, things seemed to go well but just before christmas in 2007, benson said he got an urgent call from canahan the brokers were switching firms. >> we're moving to merrill lynch. i have to come see it right now. >> reporter: he said there were stacks of paperwork, most of which he did not read. >> i trusted the guy to give me the papers, and no, i did not read them. >> reporter: what benson said he didn't understand was that kavanaugh's compensation at merrill lynch would include millions of dollars in incentives if the brokers met targets. it's popular and it's legal. but what benson said happened next is not legal at all for the next ten years, he said kavanaugh churned his account, not to make money but to

generate commissions big commissions. >> if i had put that money in a passbook savings account, let's say, it would have been a $50 million gain >> reporter: that, he says, is based on a study of his accounts by a is former business partner noticed the problems first he said, charles is take advantage of me. you better check your portfolio. >> he filed this arbitration claim with finra, wall street receive regulatory arm alleging his account was churned. he lost more than $100 million

after a hearing in front of a finra arbitration panel in 2018, the firm decided to settle with levin without admitting wrong doing for 40 million the largest finra settlement between a firm and an individual customer in at least a decade. craig has filed his own claim for $100 million >> if they can do it to me, with who has a big account and served as a governor of a state, who else can they do it to >> merrill lynch declined to kplen comment on the state investigation but says it disagrees. saying this is a case that doesn't add up a sophisticated high net worth investor who claims to be unaware of activity in their account for 11 years they fired the broker last year. his partner has retired from the firm both men declined to comment

the transactions in question were executed at the customer's direction. cnbc has learned that merrill lynch is still paying his legal fees >> it's fascinating. the key line that stood out for me in that piece is when you said that they executed trades without his permission is that to say he had a client directed account and lots of trades were going on without the phone call that would suggest his direction or that it was a discretionary account and meant to be long term in nature but much more short term in nature than they let on >> what he alleges is that it was a client directed account. he was supposed to be kept apprised of the trades he claims that did not happen. >> fascinating stuff thank you very much for that you can read much more about that investigation on cnbc.com still ahead, the up tick in retail trading has been mainly attributed to people being stuck in the house with too much time on their hands

that wasn't the number one driverer of activity we're back in a couple of minutes.

welcome back we're just up 2% on the dow. trading apps like robinhood have seen a huge surge during the pandemic more time at home is not why people started trading according to a study kate has te the details for us. >> research suggest it was more about bargain hunting than people having extra time sofi out with a study about trading behavior in june all generational coherts from gen z to baby boomers saw depressed stock prices as a buying opportunity that's why stock trading

increased. next it was extra money followed by more awareness on the importance of investing. fourth on the list at 34% was to replace activities that covid restrictions had eliminated. stimulus checks playeda role i this by putting more money in people's pockets more than 80% of those polled received government stimulus, half of them used a portion of that money to buy into the stock market researchers say they saw respon dents who gamble or bet on sports getting into the markets at a higher rate than their peers. they saw an up tick on trading on mobile devices. wolf >> stimulus pacts going directly into stock market. i don't know what that concludes. i think it's interesting this wasn't just a case of people having more time at home people were drawn in by cheap prices >> baby boomers especially when you look at the differences in the generations they saw more so than gen z or millennials and

researchers say it's likely because they have been through multiple downturns and know what to compare it to but interesting study, for sure. >> thanks for much so for those people will be in profit if they bought in the last couple movanof months we'l how long it influences their behavior not far off the sessions highs we got to 560 or so higher on the dow up 2.2% we're up 2% or so at the moment. 530 points 1.3% for the nasdaq. best sector health care follow by industrials and consumer discretionary. real estate and staples are the bottom all 11 sectors are higher. thanks so much for watching. the exchange coming up next. one analyst says the death of the office is greatly atagrad. th's coming up on "power lunch" right after this short break.

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welcome back i'm melissa lee. tyler will join us in a moment we're near the session highs the dow up more than 500 points. the nasdaq hitting a record high again as big tech koptss to power this market higher speaking of being on the fast track, tesla is on fire. shares jumping again today another electric vehicle company about to hit the market. "power lunch" starts right now