and they made another acquisition with an energy-based company to really kind of tap their toes into the public transit space. i'm excited about uber's creativity despite the unfortunate circumstances around the pandemic >> and lack of profitability as well stephanie link, what is your -- i was going to say last chance trade. final trade. wrong show >> deere for market share growth >> all right, stephanie link, thank you very much. see you on "closing bell." "the exchange" starts right now. we will certainly see you on "closing bell," sara, looking forward to that. right now i'm robert frost in for kelly evans. ramping up its china rhetoric and blaming several u.s. companies for being part of the problem.

just saber rattling or is it a big worry? we'll debate netflix elevating one of hollywood's most powerful people to co-ceo. is the streaming company making the right move we're looking at some kitchen stocks for big gains we're looking at data markets and bob pisani has an update for it hey, bob >> s&p is only moving at a 20-point range here. that's not particularly wide by and large, banks and energy a little bit of weakness there against the trend here, but tech is very flat megacaps down, amazon is down 8% for the week i know everybody is focused on netflix down 7%, but keep an eye on amazon, it's been on a down trend all throughout the week. we're knocking on the door of

3230 we've had a lot of problems getting over those june highs and start of the year right around 3032. you saw that resistance there. that's a chart of s&p week to date here. the main themes here, rotation out of tech, mega software and what we call banks, energy, small caps, technology all the cyclical names are on the upside home improvement, everybody doing everything to their homes. we had new highs in sherw dwi sherwin-williams and masco tech valuation is an issue and we have wild cards on what stimulus is going to happen and china tensions still not clear what earnings are doing here because a lot of companies are declining to pry guidance guys, back to you. >> so clearly we've had a bit of

rotation this week out of tech into value is it surprising that that's happened on a week when we haven't really had the best economic data? you could even argue quite the opposite, and on top of that, the banks ending the week softer in the week they reported, and to that point on the economic outlook, none of the ceos were positive about the economic outlook, and yet the value of the cyclical stocks has been the best performance this week >> i hate to say this, but if you're trying to act rationally, wilf, the market is clearly in the hands of momentum traders right now. you can see what happens in the tech situation i think momentum and relative positioning is actually more important than the fundamental issues which you mentioned and which, by the way, i agree with. so when you see stocks that go parabolic all of a sudden are up 10 to 15% in two weeks and no particular change in the outlook other than people were piling into it, and then you get any kind of sensitive commentary

like what happened with netflix slightly off, you see what the results are. i wish we could say rational long-term actors are moving the markets today, but in technology, i think it's momentum-driven and we know they're in weak hands. in a scathing speech yesterday, attorney general bill barr criticized companies from silicon valley and hollywood for kowtowing to the chinese body, saying the worleader's ambitions not to trade with the united states in fact, according to the citi note out recently, they're some of the best performers in asia but all the names have stumbled over 5% this week in china as rhetoric has been ramped up. here to help us get through this tight rope, senior fellow at

yale university, as well as the national enterprise. a good afternoon to you both if i start with you, derek, was there a legitimacy in the criticism by the a.g. yesterday by these companies, or was it overdone >> well, i think there's legitimate criticism i don't know how useful it is. as someone in the economy, we deal a lot saying we deal a lot with china and discourage u.s. action so i think that part of it is legitimate the attorney general feels like he's heard a lot of it i'm sure he has. the question is what to do about it simply complaining doesn't improve u.s. policy, it doesn't improve the situation of the american economy, and that's not really his job that's the job of the treasury secretary, the commerce

secretary and the united states trade representative i think the comments are legitimate, i just don't think they add anything. >> steven, morgan stanley has been operating in china for many years. has morgan stanley seen any of its ip stolen over the course of the last couple decades? >> wilf, i've been retired from morgan stanley for now nearly 10 years. during that period ifr, i was a member of the board of morgan stanley's joint venture with the china constructive bank, and i can assure you there was no forcing of any technology tra transfer we were partners building china's first investment bank and we shared business practices, personnel strategies and financial services technology and in my capacity as a businessman operating a joint venture in china, i had

discussions with many counterparts and many industr s industries, and with just a few exceptions, the notion of forcing the technology transfer coercion is just not fact-based at all >> nonetheless, stephen, we are where we are with these elevating tensions do you think it's just more hot rhetoric and perhaps after the election it will cool down again, or have we passed a turning point? particularly when you see a country like the uk who has a lot more to gain from its relationship with china in a relative sense making such a big u-turn have we passed a particular moment in time in terms of relationships with china >> i certainly hope not, and i do not think so. of course, that's very independent wealth on the outcome of the election. make no mistake about it, the attorney general's speech yesterday was just the latest in a long string of political blustering that started with

national security council director director oh -- o'brien and will likely end it started with a report in april of this year called the corona big book. look it up it says very clearly when things get bad on the pandemic, and lord knows they're going from bad to worse right now, don't defend trump, attack china this is a political effort by the attorney general, which is very unfortunate because he's supposed to be an apolitical representative of the people in leading the department of justice, not the president >> derek, where do you see these tensions going from here, and do you think the election is a key swing factor, or have we seen quite a similar tone from vice president biden in terms of being america first rather than

pro-china? >> i do think the election is going to matter. vice president biden was part of the obama administration which had a very different policy toward china than the trump administration, certainly in words. people in the biden camp are arguing even now where the u.s. should go. i'll point out this is not a republican position to turn the u.s. away from china to some extent bills in the congress have passed by overwhelming bipartisan majorities. the most recent bill co-authored by senator toomey, a republican, and also senator van holland, a democrat, passed easily, no opposition from either party it was about suppressing rights in hong kong so the vice president, if he were to win the election, certainly has the opportunity to change the tone in u.s.-china. he may not have the opportunity, even if he wants it, to change

the direction of u.s. policy, to change restrictions on u.s. business with china that matter to investors and also matter to the natural interest, because that is a bipartisan effort as we've seen for four years in the congress >> steve, quick final question shanghai pulled back this week after a very strong run. had it overheated a bit? >> well, the markets have certainly been frothy around the world, including, of course, the united states, and the pullback in china, i think, is sort of a typical volatility factor and hard to tell where we're going from here. but if these political attacks heat up, then there could be more pressure on markets around the world, including our own >> steven and derek, thank you both for joining me. >> thank you, wilf the u.s. setting a new daily record of coronavirus cases nationwide meg tirrell joins me now with the very latest. hey, meg

>> hey, wilf these numbers are hard to believe. more than 71,000 new coronavirus cases reported yesterday in the u.s. by states if you look at the johns hopkins data or other data, it's even higher 75,000 or 77,000, depending on how you're counting. that as hospitalizations are now reaching rates we haven't seen since april, and as the number of deaths reported each day in this country is also starting to rise let's look at the states that are seeing the highest case counts florida yesterday reporting 14,000 new cases, today more than 11,000. texas also reporting more than 10,000, california 8500. multiple states reporting more than a thousand daily new cases, 14 of them one possible bright spot is arizona continuing to look flat at about 3,000 daily new cases georgia being highlighted today by scott gottlieb at a potential important point for being able to reverse things. right now it's looking quite

bad. hospitalizations, as you can see, are spiking deaths also on the rise, more than 3500 cases reported yesterday. dr. fauci was just talking about the progress on a vaccine. he said he is cautiously optimistic after seeing the data presented this week from moderna and other data here's what he said. >> we feel cautiously optimistic that we are on the road, as bleak as it may sound right now, that we are on the road of getting this under control >> a message we all need to hear as these numbers look like they just keep getting worse. >> but, meg, the point there in terms of the vaccine, optimism by dr. fauci, still doesn't change the point that we also heard from ken frazier this week as effectively being usable nationwide is a 2021 likelihood, not 2020 >> yeah, dr. fauci has said end of 2020, perhaps the beginning of 2021 if all goes well that we

could start broadly distributing the vaccine. and that won't mean everybody can get vaccinated immediately, either >> meg, thank you very much. we hope the infections don't continue to rise bearing down on the stay at home trade with a look at kitchen stocks the next big position to serve up big gains plus, students and teachers scrambling to find personal protective equipment with the start of the school year just weeks away a closer look at the latest challenge facing the class of covid-19 and as we head to break, look at sectors. health care and technology leading a discretionary energy s&p just positive, dow negative. we'll be right back. save hundreds on your wireless bill

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we're back at "the exchange." a recent survey by bank of america of various respondents showed that 48% of people feel comfortable dining out at some point before labor day, declined from 58% in april, with the u.s. in various states of reopening one thing is for sure, more meals are going to be consumed at home. this dynamic is cooking up

potential gains for various stocks centered around the kitchen. let's bring in liz suzuki, research analyst at bofa securities a takeaway from your recent survey is people are content to stay at home even if the rules around them are changing >> exactly we found that 86% of survey respondents want to stay at home even if restrictions lift, so it seems as if this stay-at-home trend will be around for a while. in fact, another 60% of those surveyed said they prefer to work from home if given the option compare that to 5% of people who worked from home before covid, and even if just some portion of that 60% ends up working at home for the longer term, or if there is some hybrid model that's developed where you work from home a couple days a week, you go to the office a couple days a

week, either way it amounts to people spending more time at home, more time in their kitchens, more time in their office there is more where this is relevant, so we decided to look at the home kitchen in particular this is the heart of the home. we tied in our restaurant analysts, our home products, brands, analysts and our food and grocers' analysts as well. >> is it the area of eating that is the biggest impact that restaurants will suffer and various other eat-at-home type stocks will benefit? which ones in particular >> it isn't all restaurants that are necessarily disadvantaged, those that excel at delivery are in a pretty good spot. we have seen an increase in food delivery those grocers that also offer delivery as well

we found that 50% are ordering groceries to be delivered at home and 26% of those were new you probably see it in your own grocery bills as well, that not only are people ordering more food in every order, but they're also seeing increased prices in every order. i think right now the cpi for stay-at-home food is up in eight-year highs, so there's been a pretty big increase in food categories. >> what about the work-from-home aspect, office supplies, et cetera are they benefiting? >> absolutely. we've seen an increase in electronic spending. one thing that ties this all together, too, is that the home improvement stocks are tied to every room in the house. if you're building a home office, you're maybe even adding a room or in some cases doing some work to delineate a space to work in, or if you are building a playground in your

backyard because camp is canceled for the summer, there is a lot of different ways that the home improvement stocks are tied to this, so that's where we've been seeing the most consistent strength in our credit card data that we follow and in other indicators as well. >> give us a couple of these standout stock recommendations >> sure. we really like lowe's and tractor supply right now these are both companies we liked before covid as well i think there is a longer term margin growth story here they're self-help as well as just the covid theme lowe's, for example, they saw very strong sales growth we think that continues and we think estimates look a little bit too low for the upcoming second quarter that will be announced in august. then going forward, we think about the longer term opportunity, that there is this entire wave of millennials that are thinking about moving. rates are very low, so that becomes appealing now thaits

ti - that it's time to get out of the city there is a tailwind that will last into covid and could be a great investment opportunity >> liz, thank you for joining us >> thank you still ahead, netflix transitioning from tech to media. is it the right move to shoot for the stars by netflix we'll debate plus it's like an airbnb for pools and people are diving in one thing that is taking off during the pandemic. "the exchange" back in two stock slices.

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welcome back to "the exchange." the market is flat as we stand here on a friday afternoon, reversing the theme for most of this week. today tech is underperforming.

crocs falling today. shares have climbed over 50% in the past three months ahead of down 5% or so today. s&p biotech went ahead of the likes of moderna which has soared this week the xbi, as you can see, up 2.5% today, up 7% for the weeks crude stocks, royal caribbean, norwegian cruise line and carnival has fallen. those names down about 2% to 3%. they had a good start to the week, a bad second half of the week for the cruise stock. let's get to sue herera for an update >> hi, sue >> good afternoon to everyone this hour. ruth bader ginsberg revealing that she began kechemotherapy fr

a recurrence of cancer, this time in her liver, but she has no plans to retire she said the chemo is yielding positive results and she's been able to work at what she says is full steam ceos are calling for businesses to step up and mandate face coverings to end long-term did he haevastation consequences dc football team owner sees no place for sexual misconduct made against several former team executives you are up to date i will see you in an hour. wilf, back to you. >> sue, thank you for that see you later on "closing bell." we're just a few weeks away from the start of the school year and new supplies are topping the back-to-school

lists. ylan is here for that. hey, ylan. >> check out the supplies we put together for the covid era disposal gloves forjanitors, that's expected to cost $1440. hand sanitizer, $40,000, masks for staff, almost $45,000, and masks for students, almost $150,000 a paper mill was asked to make masks. she then soaked masks in cleaner and made her own wipes >> clorox wipes is now doubling the price. if something cost $10 before covid, it's $20 now. it's a good way to help save money and we get what we need.

>> well, she did say she believes her school will be safe if they can get the supplies they need and if everyone can follow the rules, but she does acknowledge those are two big ifs. back over to you >> those numbers are astonishing. i think you said per school. i couldn't really read the graphic from where i am. either way, very high. to what extent is this price inflation in those products if we were, say, in 2018 or 2019 versus just the volumes they need i guess things spiked back in april, but normal consumers, we can get our hands on those things in a way we couldn't a couple months ago. >> i think it's a little bit of both, wilf these numbers are based on school districts estimating what they were paying at the time for some of these products and it's extrapolating for school districts across the country some of those price increases may be built in here, but that's why teachers' unions are looking

for an extra $56 billion from the federal government to help cover some of these costs. it's unlikely they'll see that level of help from washington, but that is what they're going to be needing to make sure the classrooms are clean and safe. never mind all the additional investments in technology, et cetera, that they're also going to need to be making >> thanks very much for that still to come we'll talk about strong numbers, and never mind work from home. we'll look at back to work as a trade and see which ocstks you should be buying for that. "the exchange" back in two get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

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welcome back let's catch you up on a few stories that should be on your

radar. it's time for "rapid fire. here with her take today, seema modi, kate rogers and leslie picker >> thanks in part to $100 billion inflows as investors lead to fixed incomes due to coronavirus uncertainty leads to $7.3 trillion in uncertainty with blackrock liz, what should we be focused on with this number? >> when you look at blackrock, it's all about the flows of their businesses, and what was interesting and stood out to me was we saw about $4 billion in equity funds, which is surprising because of the appreciation we saw in the stock markets over the quarter then they sought inflows of

about $60 billion. we saw a 30% increase in those products year over year. that's surprising because historically people haven't really turned to fixed income etfs as much as they have in equity etfs. in fact, the equity penetration is about 5%, fixed income is about 1% so far, so that was seen as a big bright spot of their earnings and the potential for that product moving forward. >> leslie, for some context, this was a strong quarter. that was partly expected because of the market rebound. q1 was disappointing, which i would point out as well, the banks back in q1 that have wealth divisions didn't really see access they saw the market decline like everybody, but they managed to keep some inflows or not any outflows because people switched from equities to cash.

blackrock was poor q1, strong q2 >> right, and we saw people move out of money markets within the funds of the blackrock as well but you're right, massive declines in the first quarter for blackrock. their earnings are dependent on two things they're dependent on flows, and they're also dependent on beta, whether the market goes up or down, because they take a fee over the money managed overall so if they see their assets decline in the first quarter, they see them evaporate, that makes a difference in terms of profitability, in terms of margins, in terms of money coming in the door >> do you think he wants the secretary job? the end of it was he would definitely say yes if offered. >> yeah, he said he's happy where he is. there was a really sobering message in that interview, though he was asked if this crisis will be worse than the financial

crisis of 2008, and he said yes. he said the financial crisis of 2008 really started and ended with housing and the financial sector whereas this time it's all parts of the economy i thought that was a little bit troubling when you look at how long it could take to get out of all this >> we hope he's wrong, but we certainly listened to that message. moving on to the next story, we heard from plenty of companies benefiting from the stay at home stage what about companies that could benefit from people returning to work seema, you've been digging into this >> who knew plexiglass would be such a hot item this summer, but as offices and factories reopen their doors to employees, they're embracing a number of different safety products to minimize the risk of infection so yes, plexiglass you'll many times see when you enter a door of an office or company, safety goggles, n95 masks, air purifiers. one thing gaining traction,

sensors. they're asking employees to wear the sensor which basically allows them to maintain social distancing in the office in fact, it will buzz when you are less than six feet away from a colleague. certainly generating an interesting debate will employees be receptive to wearing the sensor others say we'll do everything we can to make sure we stay safe as we go back to work. >> has the price of plexiglass risen a lot? if it has, we can pull that off this desk of hers. i don't know if it's plexiglass, but it's similar >> and just sell it on the black market >> yes >> i believe the price is upped. there is a country called barry global that does sell plexiglass others have talked about heightened demand for this particular kind of resin

plastic. >> it's pivoted to a slightly more reasonable note, but with that in mind, where are all these farming companies that may come up with treatments for vaccines this sort of thing really applies, and some companies could be in for a windfall >> it's really just a demand problem and supply problem there isn't enough plexiglass material to go around. there is at least a six-month wait for this stuff and the orders are already into 2021 i just wonder what happens to this plexiglass if and when we have a vaccine and life is normal we'll have tons and tons of extra plexiglass i think whoever starts a business building plexiglass homes or plexiglass cars or something, there will abe lbe at of it. >> or anchor desks >> yes >> up next, as more and more high-income families leave new

york city, private schools in nearby suburbs are seeing a new surge in applicants. robert, you've been following these stories. is the level of applicants to these high-end schools much higher than expected >> yes, in fact, it's doubled. if you look at the hamptons, west chester, connecticut, all these private schools typically get a couple dozen applicants in the spring or summer now it's 60, 70, 80 applicants and they're all full so these families that moved out of new york city hoped to put their kids in private schools in the suburbs are forced to hire tutors or, gasp, go to a public school what it says about these families we thought were camping out outside in the suburbs are actually staying there for the foreseeable future, at least for the year and perhaps years that's troubling for the real estate market, the economy and the tax base if all these

wealthy families are putting their kids in school outside the city >> leslie, clearly in these very expensive areas -- it applies to more than just these areas, of course, but in the likes of the hamptons, taxes are so high, there should be plenty of money in the coffers for these school districts. >> you will think, wilford, but if you look at connecticut as a point, and all these governments that have to contend with ish you see. to robert's point, if you look at the real estate budgets, it's all about tax-declining revenue as people move to florida and other places with a lower tax basis. one thing i think is kind of interesting with regard to the private school situation is that some private schools are actually opening their doors and letting students in while the public schools stay shut so people are opting for private schools when they may not have otherwise done so in order to get their kids in a classroom, which could potentially widen the income inequality for those

kids who were left behind who may have no other option besides public schools >> seema, you get to have the last word on this one. >> well, you know, it's interesting, we've been talking, wilford, whether this leave from the city to suburbs is temporary. we've been following the rise for vacation rentals and hotels in these markets within suburbs, but clearly some people are saying, you know, we're actually going to leave the city and enroll our students in these different locations. i think that's really interesting and raises a lot of big questions about real estate values here in new york city >> robert torqu, to that point quickly. if it is permanent, is that felt in manhattan real estate prices yet? >> no, absolutely not. there aren't prices because we haven't seen deals since march prices are frozen at march levels and we don't know whether they're going to fall, but right

now it's only a 5% or so discount in manhattan. we won't really know what that discount is until the fall or later. an online start-up is being hailed as the airbnb of pools and apparently it's getting along swimmingly dianna joining us with that story. >> this company started two years ago but grew 2% largely due to covid swimply is a company that lets you rent out a private home pool or rent out your pool. people are desperate and willing to pay by the hour to get out of the heat for owners, they can make much-needed cash which some are now using to pay their mortgages. at first there was some safety concern, but that is no more >> the cdc declared from day one that pools are safe.

they're outdoor, and, you know, the chlorine does mitigate the virus. so now our pools are coming back online, and especially now when people need the money. >> reporter: the price per hour with range from anywhere from 13 to $300 depending on the location and pool amenities. most people do not offer bathroom access. swimply handles the booking and takes 13% for that they raised just over $1 million at the start and had another round ready when covid hit that one fell through, but they are already profitable without that venture capital so again, great timing if it's 100 degrees as it is today in the d.c. area, wilf. >> i love it, diana. my question is are you using swimply now, or are we che

chez olick now >> i'm trying to get one of those plastic pools but they're sold out all the time. no, we are not chez olick. >> there is a little mini waterfall in the background, which is lovely. >> it just turned off. >> does chlorine really solve the issue of covid i know it kills typical pool-based bacteria. >> we do have a link to this on the website by cdc the cdc says you can't transmit covid through recreational water. you need to take precautions around the pool with social distancing, but in the pool, the chlorine water itself cannot transmit, per the cdc. >> leslie, would you want to be borrowing a pool >> i don't know. i mean, no bathroom?

that seems like a little risky, especially if you know that other people have gone there without using a bathroom >> some people do. >> i don't know. they do opt for the bathroom maybe i would splurge a little bit to get the full amenity. yeah, i mean, especially here in the concrete jungles having access to a pool would be fantastic. >> they've also banned bathrooms for parties. you can't do a pool party, you can just do a small visit. >> i can tell you a family in california have five kids. they love having a swimming pool in the backyard. i would have to figure out how to make it work here in the concrete jungle. with it being 98 degrees today, i would love that. >> robert, what's your take on this i guess a lot of those wealth type people you cover, they

wouldn't have a need to rent their pools out. >> no, they don't want to rent out their pools. i went on the site and looked at the cost there is 17 pools within a half hour from me they are all rent, between $60 an hour and $80 an hour. two of them listed clothing as optional, so that's a subculture there is a lot of competition between the pool owners because a lot of them are offering barbecue services included, a lot of them are offering their pool house, they are offering bathrooms, lots of sofas and lawn furniture included. it's a whole thing now, and a lot of competition over who has the best rafts i like the big pizza slice raft, i'm looking for that a lot of people throwing in a lot of extras to get business. >> diana, you obviously found one with decent inflatables, and what's unique, a waterfall it's back on on that note, we will leave it there. diana, thank you so much for

that if you're searching for homes rather than pools today, we have glenn kelman on at 4:00 p.m. eastern coming up, shares of netflix discussing its losses on disappointing earnings the company made a big change and what it means for the stock, coming up.

. welcome back the houston rockets suing their insurance company over a claimed denial stemming from the coronavirus outbreak and the rockets aren't the only ones crying foul contessa joins us with the legal battles that could be ahead. contessa >> and are ahead for sure, wilf. the rockets are suga fiing affid

fm insurance with claims associated with the coronavirus outbreak teams like the rockets argue, look, we've spent years paying premiums that should now be entitled to coverage but look, it's not just the rockets. nearly two dozen minor league baseball teams are suing nationwide and its subsidiaries are in federal court law firms are suing, along with hotels and casino and restauranteurs they are only covered when there is physical damage from a specific event the lawyers started arguing,

look, the virus contamination is physical damage. or in some of their briefs, they blame government closure orders, bypassing any kind of arguments about viral exclusions altogether the estimates right now are that u.s. disruption costs are about a trillion dollars a month, and as we see these states closing back down, we have to admit nobody knows how long the business disruption will last, wilf >> presumably these symptoms arrived because no one had specific pandemic insurance. about that change going forward? >> the insurers are trying to lobby congress to come up with a solution, sort of like flood insurance where the government would underwrite the insurance the insurers would administer the program, and they say that's the only way that you could possibly do this, because pandemics are global, there's no end to them, they hit everybody. there's no way to assess the risk in an affordable, accessible way >> hopefully there is an end to this one at some point

contessa brewer, thank you so much netflix putting the end to the debate over whether it's a tech or media company. we speak to the co-ceo who he is and implications for the stock, next.

welcome back netflix making a big c suite move netflix is shooting for the stars and firmly declaring it as a media company. julia joins me with just exactly who ted seranos is >> he joined netflix in 2000 and he's been responsible for the streamer's content ever since

then he's expected to send 14 million dollar on content. he really brought netflix into the exclusive content business with its break out house of cards which debuted back in 2013 the stock is up 3,600 percent since then building out a studio focused on creating originals and licensing them, there's been a growing for territories around the world >> 2013, those first two or three seasons of house of cards, they were good ari, what stage are we at in terms of whether they've got enough content for this year when did that have to get back to full production in other words to fill the amount of

demand they have >> they've got a fair amount of content certainly on animation side they have been building that backlog. they haven't made clear how long they can go without production they started to revamp productions in certain parts of the world and other parts where they never had to close. knowing netflix, they will make this work. they will produce content where they can we should all expect it will be plenty of new shows coming out of netflix the fact it's a global company and does have productions all over the world is really proving to be a huge advantage now they have productions going on

in iceland they are doing a bit here in los angeles but it's mostly global and they've been able to keep up that production now for months netflix has been at the cutting edge using fact they have the roots as the technology company to figure out how to do it safely they are ahead and have been leading the charge especially when it comes to restarting those productions. he said they are good in terms of jocontent. >> the pressure that's on all the movie theater chains helping netflix and other streamers change the debate as to whether or not they should be getting first releases are not long term >> i'm not debatable the value of netflix and it's

ability to do deals with other studio to bring the content that have the biggest space. the value of netflix and its abilities the outpace its rivals at this point is unquestioned. >> what hastings other philanthropic ventures are he made this commitment that netflix will be working with banks that have a traditionally

plaque banks to help drive money there. i think he's thinking comprehensively how to use his resources at netflix and someone who has a lot to donate to make a lot of change in the world >> we didn't get any announcements about a sequel to "tiger king. >> they're working on a lot of different content. they know it was a huge hit for them the longer studios stay shut, tra dditional movies will set t netflix. >> thanks very much. great discussion thanks for watching. today it's been a pleasure filling up in the next hour, the ceo of holly named medical center is joining the power lunch team to discuss what's got him worried

on the virus that and much more to come p.erat:0are flat he 20 m. you're first. first to respond. first to put others' lives before your own. and in an emergency, you need a network that puts you first.

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it's incredible. summer's on us. get your first three months free! hurry, offer ends july 20th. welcome back i'm melissa lee. this is "power lunch." the in dnasdaq on track to end e week in the red. energy lagging once again today. that sector is down 40% this year every stock in this sector is down more than 20% from highs. we'll dig into some of the most beaten down names and asks if it makes any sense to take