you watched his career first hand >> his brother and his sister both spoke about their brother and his sister said that john was always telling her if you see something that's wrong, do something. that was the mantra he lived his whole life he was a dowug doer and for himo pass away as we're experiencing another major time of civil rights and racial equality

he would be the first one to say there was so much more to do >> celebration of his life will take place over the course of six days it kicked off saturday after these events he will lie in state at the georgia state capitol on wednesday thursday he has a celebration of life there's several more days where he will be remembered and it does feel as though people are coming together at this time to kind of highlight the choices, the brave choices he made with his career and the impact that had on civil rights legislation, among many other areas >> that's right. i was just look at this shot of senate majority leader mitch mcconnell and nancy pelosi both standing by in a socially distanced set up the aerial shot that was stunning and will be an image that stays with us as a marker of this time with bipartisan in such short

supply in washington, the memory of john lewis is something that has brought lawmakers, policy makers from both sides of the aisle together both mcconnell and pelosi are scheduled to give remarks momentarily after the casket arrives >> i was just thinking as i look at the same shot that we're all looking at there in fall hall o statues, you wonder how long before there will be statue of john lewis in that room as well.

welcome to "power lunch. we're watching the arrival of john lewis where he's just arrived after his motorcade throughout washington, d.c the ceremony will begin shortly. we'll hear from multiple congressional leaders. this will go on for a short period of time and then the body, the casket of representative lewis will be moved out of the rotunda they are trying to find a way in this age of coronavirus to make sure that every one can come pay their respects it's unusual in the first place, he's just the second black lawmaker to lie in state also unusual is he will be moved outside for this evening for tomorrow so the public can come pay their respects >> you can imagine there will be plenty of people who will want to do that he was beloved

people love what he stood for. >> they will be renaming a piece of legislation they will be renaming it after congress lewis >> it's a move he would be very proud of, kelly. as his first processed throughout the city of washington, it took a moment to stop and pause on black lives matter plaza, the newly renamed 16th street outside the white house where the congressman made his last public appearance with the mayor of d.c. in june.

several powerful images as we remember a very powerful man in this country.

>> that's the late representative john lewis lying in state as the second black lawmaker to ever do so we'll continue to follow the ceremony for you "power lunch" will be right back at leaf blowers. you should be mad your neighbor always wants to hang out.

and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler so you can take on the markets with confidence. don't get mad get e*trade and start trading commission free today. don't get mad get e*trade and start trading as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected.

welcome back to "power lunch. check the markets right mow if you're just joining us modest gains to begin the week once again the nasdaq has been the out performer today making back what it lost on friday. it's up about 1.25% right now. bob in his ten for ten nest right there. looking at what the markets have been doing today >> ten out of ten for my poster collection thank you very much. that was a very moving tribute to congressman lewis that you just did there

two days in row, it just doesn't happen they were all down on friday you think they could put together two down days no way also other parts of tech doing really well. semiconductors, the smh is at a new high taiwan semi. look at that move in there there it is. people are thinking this is taiwan semi. there's the move up. totally different sector materials sector at a new high today. we see dow a lot of concerns about the weak dollar and sluggish growth

what are we doing here where are we the market is tech driven banks are trading. vaccine progress, that's the one positive as for the stimulus, folks are trying to figure out we have a lower weekly check would that be good enough. some people are saying maybe they are trying to make an argument, those negotiations are ongoing. back to you. >> thank you very much this will be a big week for tech earnings with likes of apple, amazon and facebook reporting q2 results this week.

you have been overweight technology i would think you have to be surprised that the move we have seen relative to the rest of the market that technology has gone through. >> thank you for having me certainly, you have better resilience in the tech earnings and good revenue streams looking into the second quarter. you hesitate to say there's only going to be down single digits any time you have the word only and decline in the same sentence it's probably not a good thing down single digits versus the overall s&p youunderstand how that looks relatively better and with the adaptation that all companies are seeing the fact that many schools are starting back virtually

you look at a broad sector here, not just technology but where does tech play in your portfolio right now. as you a overweighted as rebecca is now >> we have been verweight. i think if you look at tech, i agree with rebecca and your previous guests is it's become a safe haven place for people to put money. if you look at zero percent interest rates, there really is no opportunity costs with investing tech names >> even if you have social media companies where advertising is down there are reasons to be skeptical about this move. calling it a safe haven is a

little much, isn't it? >> well, again, perhaps but if you look at obviously these companies do have some economic cyclicality to them so you're seeing year to year earnings declines in some of these companies. almost all of them, in fact, if you look, for example, at amazon, you'll have 30% year over year revenue growth over the next year or two, get their cost structure in line and start delivering earnings. >> what are your expect tagts for the earnings coming out this week bearing in mind some of these

companies are already down 10 plus percent. >> we have seen some companies, including some in the technology space start giving numbers for the full year, 2020. what they say is going to be much more important than the earnings we report we're still early in i think that there could be some bumpiness owing to the valuations we talked about earlier. >> all right we'll see what happens when the earnings startcoming out this week thank you both for joining us

today. >> thank you a major update in the race for a covid-19 vaccine moderna shares are soaring with the company announcing details for phase three vaccine study and receiving half a billion dollars of funding from the government meg has the details for us >> this is the first phase three trial in the united states of a covid 1 v9 vaccine to get under way. half will be placebo half will get the vaccine. it's not the only company starting a new clinical spriel we expect to hear news from p pfizer johnson and johnson is starting phase one today. we spoke with the ceo about how quickly they can enroll the trial. here is what he said

>> focus very possible it's already optimistic scenario it could be november at this stage it's impossible for us to know precisely >> if the disease is more prevalent they will find the informing faster. louisiana anda florida surpassing new york in terms of the most overall cases. now second only to california on that basis overall, it's cases are actually declining on the 7-day average perhaps they have reached a peak when it comes to cases states that have not reached that peak yet, louisiana and oklahoma both setting new case records the other day.

both of those states seeing hopizatiohop hospitalizations on the rise we may see data on how well they work because of the bad news we're seeing so much infection in this country. >> lot of urgency especially with back to school season coming up. thank you. tomorrow on squawk box, big interview with bill gates. he's been at the fore front for the race of a vaccine. tune in tomorrow morning at 6:00 a.m. eastern time for more turning now to wa wheshingtn where the big focus is on snaent republicans. what will happen to the $600 a week extra unemployment payment that's set to expire at tend of this week. it's great to have you both here does this look like pretty good progress to you or we just going to go along until we hit an impasse and risk a huge delay?

>> i think there's going to be a bit of delay i don't think anything is happening now. i think we're talking an august number there is going to be sorts of a gap there. that gap might get paid up on the other side and people will maybe get bigger checks to make up for the missing week or two weeks, however long it is. this is not going to move seamlessly and we're probably talking about august assuming they get a deal and that is my assumption, it would be a tremendous economic shock if there is no deal. i think most republicans realize that they will come to some agreement at some point in august. >> jimmy, let's back up to what you just said. in this is coming in august and for a lot of states 600 unemployment benefit ran out you may get it in a lump sum on the back end that messaging will be extremely important to the economy

>> you want to create a bit of certainty whether it's for consumers, business or landlords about what the next, not just next few weeks hold but the next six months hold. that's been a huge problem this should have already been done for that exact reason this is recreating unnecessary uncertainty with also if economic downsides that come along with that. >> one of the things on the household front looks like they will come to some agreement. maybe $200 instead of 600. sounds like they want direct checks to households let me ask you about state and local budgets. there's not a lot in here about relief on that front sounds like we're not that yet a lot of people seeing notices about taxes going up and services cancelled will all that be undone if we get rereef or is this issue just not that pressing in washington? >> good afternoon. it's a great point i do think we will see something in this republican bill that

sort of is a hat trip to state and local funding particularly in terms of schools. we're expecting about $100 billion for schools. i think policy makers will say that is for state and cities however, as you allude to, states are in pretty horrific shape from an economic perspective. you can go back to the financial crisis and one of the reasons why in the economy was so slow to move out of the recession back in 2008, 2009 was because of state and cities and how long they had, they took to dig out this is really important issue really important issue for democrats on the hill and as you sort of allude to, this is the opening of negotiation i think this will likely, you know, result in some sort of agreement. probably at the 11th hour.

never underestimate motivation for members of congress to break for august recess. this is big issue. this is big sticking point and big priority for democrats i can't see them agree to any package that doesn't have some pretty significant funding for states and cities. >> jim, i want to ask you about what has been the hot button issue of this. that's the $600 payment which is going to be reduced. kevin mccarthy used the argument the other day that, as he sees it, overly generous payment loses the incentury tifr fsecen to go back to work isn't that the whole point of that payment you don't want people to be tempted to go back to work or forced to go back to work and risk being exposed to coronavirus. >> that payment was instituted when the market, when the economy was in quarantine. the economy was shutdown to say that payment should be exactly the same today when the economy is rebounding, i think

that's a tough argument to make. listen, you had the plan cooked up by jason ferman and even they were not sticking with that $600 benefit. they were trying to reduce it to 400 and maybe calibrate it to different states or your wage income making the argument it's not continued to be 600 which over the nec sxt six months mean 80% people getting that's more than what their previous sally was i don't think that's a tough argument to make >> we'll leave it there for now. appreciate it. jimmy and libby, thank you bill all right. i wish i had more time on that one. up next, the safety trade surge. we have silver, gold and bit coin climbing higher again today. what's the best bet for investors. we have debate with traders coming up on that. the return of baseball scoring big this weekend in the ratings with tv viewers and especially with gamblers

draft kings shares are sink today as covid cases inening th season we'll have that story after this 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.

welcome back breaking a nine-year record. this while bit coin surges above $10,000 for the first time since early june both on a roll in the past week as stocks have traded sideways let's bring in the trading nation team to discuss by phone, michael binger of gradient investments seems like both gold and bit coin are benefitting from weaker

dollar which would you rather own in. >> between the two i would lean on the gold side here. it's really a goldilocks for gold investors you have a weak u.s. dollar. you have negative real interest rates. as i heard someone say earlier it's due to the stimulus on steroids right now it's truly a bullish case for gold it's pulling in a lot of retail investors. i don't see it as a valid currency yet when i look at what do people actually buy with bit coin, it still seems to be illicit things and my college kids used it to

buy fake ids when they were in college. i would prefer to be bullish on gold versus crypto currency as a store of value against uncertain times. >> all right eric, michael is going with gold what do you think of bitcoin the price action up 20% in the past week. >> we're bullish on gold too we have been recommending gold to play the expansion of the fed's balance sheet. it's the high momentum commodity it ranks highest of the commodities out there. the issue is the volatility around it is tough to keep your trading losses small there is

worth while to note the chart that bitsoin is reversing its down trend dating back to its 2017 peak. >> all right thanks for more trading nation head to our website or follow us on twitter. kelly and bill, back the you thank you. up ahead, baseball is back it wasn't just good news for fans, tv, gamble x, even real estate getting a boost could the pandemic put this all at risk yet again. google ceo tells employees may they continue to work from home until late next year. tell you everything we know about that so far. toy trouble. shares of hasbro falling after reporting a huge decline in revenue. we have a top analyst to talk about the outlook coming up.

experience the adventure of a bigger world in a highly capable lexus suv. at the golden opportunity sales event. get zero percent financing on all 2020 lexus models. experience amazing at your lexus dealer. woi felt completely helpless.hed online. on all 2020 lexus models. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555.

lookentertainmentour experience: xfinity x1. it's the easiest way to watch live tv and all your favorite streaming apps. plus, x1 also includes peacock premium at no extra cost. this baby is the total package.

it streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. yup, the best really did get better. magnificent. xfinity x1 just got even better, with peacock premium included at no additional cost. no strings attached. welcome back here is your cnbc news update at this hour. more federal agents are being sent to portland, oregon as protests there continue. the washington post reports the u.s. marshal service has begun deploying 100 deputy marshals and the department of homeland security is considering plan to send 50 customs and border protection officers to that city in texas, the damage from hurricane hannah is still being assessed a marina was left in shambles and a landmark pier was

destroyed. in belgium, a strict retightening of health restrictions to counter new coronavirus out breaks contact outside family circles will be limited to five people over the next four weeks belgium has one of the world's per capita death rates from covid-19 you are up to date that's the news update bill, back to you. thank you very much. the dow and the s&p up a fraction but look at the nasdaq. a gaining back what it lost. the russell is up half a percent now. businesses and fans are rejoicing over the return of live sports in america this weekend. baseball delivering monster tv ratings. it's being threatened to several players. the marlins have tested positive for covid-19 two of tonight's games have been cancelled.

julia on the tv ratings score us eric on how much the gamblers made and diana on the stadium real estate play julia, leet's start with you >> the mlb opening is off to a rocky start. the number shows that viewer are eager for live sports to return. with virtual fans in stand and many of the games, fox sport triple header sites prime time game 17% over last year's average. the two daytime games are up 23%. espn opening night game thursday generated the largest audience ever for an mlb opening night bringing in four million viewers. that's up 17% from the prior record back in 2017. now we're waiting for numbers on yesterday's games. while fans wats to see what happens with mlb, more are in the pipeline with nba scheduled to start playing on thursday and

then nhl on saturday >> online betting got a huge boost. one major platform is getting crushed on growing concerns that covid cases could shut down baseball again eric has more on that. >> that's right draftkings stock getting crushed today. it's down 10% erlgier in the concession the stock had tripled since sports shutdown in march as traders were expecting a lucrative return with pents up demand from gamblers who waited this whole time. draft king had it had the second best day since the march shutdowns showing how important baseball is for the company despite them offering lines on golf, soccer, the wnba and many foreign match ups. the action network telling me it's having its best july in the company's short history with affiliate conversions doing better than expected the nba's bubble restart will

bring even more interest than baseball has fanduel saying it was the most bet on saturday and sunday remember the past 12 months many more states have legalized sports betting as way of increasing their texas revenues. now maybe not so much. >> we'll come back to the latest on marlins let's talk about real estate which is being impacted by the return of live sports. since fans can't watch in the stadium, there's been growing demand for residential properties that offer a peak into the stadium diana has that story >> kelly, when dr. anthony fauci threw out that famous first pitch to open in d.c., the only people who got to see him in person were the players, the coaches, the umps and anyone living here at west half a lux ury rental apartment building baseball park developments have become a big play in real

estate take ballpark village in st. louis and it's $120 million luxury rental tower owned in a partnership. part of a $360 million mixed use nab neighborhood looking right into bush stadium >> we're in a great position we're expecting to lease up the remaining units very quickly as the season progresses. >> now there's a premium for these units that overlook the park anywhere from 100 to $600 to a comparable unit. it's just over $6,000 and the question now is people who had these unit, they thought they were getting a bonus this year because there's no fan action out there. if the season is ended or

curtailed in some way, that bonus could turn into a bust back do you. >> so true so fascinating there's a lot at stake it's all at risk right now two baseball games have been cancelled after 14 positive tests among players and staff on the miami marlins. people are taking bets on whether there's going to be an mlb season at this point what can you tell us what's the latest? i guess a lot depend ons the phillys, whether those players test positive and this all kind of spirals out of control. >> exactly you see how this spreads miami were going to play in miami tonight. they were coming from philly now they are still stuck in philly the miami marlins team has the tests but they were not in miami. they were in philadelphia. if yankees were going the play if philly because they would have been sharing that visitors locker room. the baltimore team who were in miami to play the game have now flown back to baltimore. we know that game tomorrow will not get played either.

i just named four teams. miami played in atlanta in an exhibition game before opening days that's five teams. how far does this go there's only 30 teams. i just named five right there. what does that mean for other states that are not in a bubble. what does that mean for football this will be real tricky one a lot of emergency meetings at baseball today >> not to mention that as you said the ratings were great over the weekend for baseball's return how much of a set back would it be if we had many fewer games this season if it's scrapped all together >> it would be a set back. not just to espn but fox i mingsentioned the very strongx ratings. this is the first live sports. we know there's audience demand. we don't know if they will be able to pull it off. the question is what does this mean, not just for the mlb but the nba, also for the nhl. each of these teams is handling this differently the nba is operating in a bubble that might help to tamp down on the risk of spread but there's a

lot riding on this the informal nfl is the most lucrative. 4.5 million dollar in ads last year a lot of concern of people wanting to make sure the games happen >> i don't know the answer to this question. that's why i'm asking. are there penalties that could be imposed against a team like the marlins for having such a huge number of covid tests you have one team that has this number and it's going to affect that many more teams maybe the whole league too >> penalties depends how you enforce it there's a lot of things that are written in rules the nfl, they rolled out rules that you would not get paid if they figured out you were in a high risk situation. the nfl put that in writing. i don't know what the mlb will do you can penalize the marlins but if you lose the whole season, is

that really going to make up for what you lost. >> that's why i ask. were the players or the teams away there would be penalties available. if not, the incentive is to be healthy because you want the league to keep going if there's no huge penalty to pay, i think that -- >> if they cancel the season and nobody gets paid, i think that will be the penalty. we had the world series cheaters they didn't get penalized. it depends how they got it we don't know. if every one did the right thing and it happened any way, i think that's what this research will be about they were in philadelphia. how come the philadelphia players didn't get it. we don't know. >> that's what makes it, we're all watching not because it's about sports but a test case when we send our kids back to school or our in work

environments or dense office towers or residential towers we're kind of all watching this as a test case of how quickly this thing spreads and what you can really realistically do to keep yourself safe >> right it also has to do with communities. these developments that we're seeing across the country whether this atlanta's battery or as we showed you, st. louis or right here, this is retail. this is hospitality. this is restaurants all around the stadiums this year they are trying to bring people to the stadiums having big screens outside like they are doing in atlanta or trying to have watch parties at some of the restaurants just to have people near the stadiums. it's all not just about the game itself here but the communities and the businesses that are thriving around them that's why they built these developments was the bring people into the whole area if you don't have the games anymore then that community really has no reason to be here. >> julia, as you pointed out, nba has its bubble we'll see how that is working starting thursday. the other sports where it's virtually impossible to create a bubble environment like major

league biblaseball. you look at college sports, high school sports. this will throw everything into disarray if we figure out that a sport like major league baseball can't contain the coronavirus. >> baseball is outside there's been all these studies about how the virus does not spread as much outside you look at the indoor sports and so many unknowns now it will be really crucial to have the testing and every one is insentivized to make sure th players and the networks but really just a big focus in trying to understand what actually happens >>. >> thank you all we really appreciate it talking through what's at stake here julia, eric and diana.

we'll have much more tomorrow about sports and gambling with the owner of the houston rockets. tilman, don't miss tilman tuesday 2:30 p.m. eastern time up next, google extending its work from home order is that another bad sign hasbro dropping by 30% it's not from a lack of demand we will explain why the stock is down%,ex 7 nt. oh, we love our new home. neighborhood's great. amazing school district. the hoa has been very involved. these shrubs aren't board approved. you need to break down your cardboard. thank you. violation. violation. i see you've met cynthia. at least geico makes bundling our home and car insurance easy. and it does help us save a bunch of money. two inches over regulation. thanks, cynthia. for bundling made easy, go to geico.com thanks, cynthia. as business moves forward, we're all changing the way things get done. like how we redefine collaboration...

how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected. this is about the next 10 years. pero hoy, tu puedes hacer algo. you can make a difference today by completing the census.

the census impacts everything from hospitals, schools and public transportation. it is more important than ever before that everyone's voice is heard. the census builds america, so the census count should look like america. shape the future of brooklyn. kansas city. tucson. atlanta. oregon. los angeles. d.c. start here at 2020census.gov. welcome back to the bond market with my pal rick santelli tracking all the action with the cme. >> we had two big auctions today. two year and five year 11:30 and 1:00 eastern right after the last auction

results you see yields popped up a bit. maybe it was some hedging set in place prior to the auctions but it's pretty easy to notice we finally turn the corner a little bit after intraday lows that were right on top of the all of the low yield close which was in the second week of march, right around 54 basis points for tens. foreign exchange, lots of issues going on whether it is the 57% portion of the dollar index, euro is so strong. after some progress is made on the shared debt issue. look at a chart of the dollar. this the is a one week chart you can see it hasn't had a terrific week. if you take the chart back to early 2018, we're now at the lowest levels since june of 2018 there can be a lot mover legsren this move. they tend to trend for long periods of time. kelly, back to you >> dollar below 94 that is a big move lower, rick thank you. google ceo telling employees

the company's work from home order could extend until mid 2021 now let's get the latest >> that's right. google and silicon valley now at large they were early to send workers home now google is the first to tell employees, you don't need to come back for a year now the decision applies to nearly all of the 200,000 full time and contract employees across alphabet. that allows them to sign full year leases elsewhere if they choose to do so. it also allows families to plan for uncertain school years in an e-mail to staff, he wrote, i hope this will offer the flexibility you need to balance work with taking care of yourselves and your loved ones over the next 12 months. question now is do other tech companies follow apple and amazon, they extended work from home policies until early 2021 while twitter and facebook are making remote work permanent. alphabet's move is different in the sense that it's not committing the remote work forever but giving employees an

entire year to plan for it and may also suggest that one of the world's biggest companies is preparing for a long pandemic and as we discussed, lots on this network, that could have important implications for housing markets and for the future of cities in urban areas. back to you. >> speaking of which, i mean let's face it. here in new york city, google had been gobbling up a lot of the west side real estate there as they're sort of footprint grew amazon was starting to do the same thing but i'm -- i suspect and i know my son works in an industry where they find that they can be just as productive from home as they are in an office environment. you just wonder what the long term implications are for those moves that were already under way for companies like google and amazon zbl >> absolutely. where i live and work in san francisco, there is a lot of startups that decided, look, we doend ne don't need to pay this much for real estate. let's pack up or scale back real estate plans they did have

you're certainly seeing it on both sides of the country. >> that is for sure. thank you. and despite growing toy demand, it it's not all fun and games for hasbro shares falling more than 7% today. we'll talk about why coming up next don't forget, you can always watch or listen to us live on the go on the cnbc app some see a grilled cheese sandwich and ask, "why?" i see a new kitchen with a grill and ask, "why not?" i really need to start adding "less to cart" and "more to savings." sitting on this couch so long made me want to make some changes...starting with this couch. yeah, i need a house with a different view. and this is the bank that will help you do it all. because at u.s. bank, our people are dedicated to turning your new inspiration into your next pursuit. find a stock basedtech. on your intereststion or what's trending. get real-time insights

in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

shares of hasbro have been tanking to day after missing on both the top and bottom lines. but despite product shortages and store closures, they have been seeing a jump in demand in the current quarter. so what's going on can hasbro bounce back joining us right now, eric cadler eric, good to see you. tell us this seeming disconnect in the story that hasbro is telling us here about the increase in demand where is that coming from? and then why is the stock down as much as it is today then?

>> well, i think demand comes from the fact that families are home more and more and children need to be entertained. and as a result of that, you know, demand is good we have to look at board games you want to play outside, playdough, thoz ase are all goo shelter at home products the stock is down 7% today that's what happened in the past that's what happened when factories were closed for several months i think the stock is down because even though the company said point of sale left inventory at low levels, supply cla chains back in working order it's hard to predict how fast that recovery going to take. >> right hasbro i know a lot of its toys

are based on movies and the tie ins that they got with the studios there. we all know what is going on in hollywood right now. not much unless it is being streamed online what's that doing for their outlook right now? >> so the license products is about 40% of overall business. so it's been decreasing part of the business over the last decade but still is very important. they did well with "frozen 2" products and "star wars products." you just didn't have the movie tie ins that you see during the summer season. that got pushed out for the most part into 2021 so there is a timing issue there. but when you look at hasbro big picture, what is driving a lot of the growth over the long term is its own ip. >> eric, so it is a -- i want to go back to the overall message here they had strong demand for things on the gaming side. i mean, we played a lot of imitation jenga lately

i definitely understand that people are looking for at home gaming but why do the stock react quite so poorly? i mean, yeah, we don't know the -- we don't have a lot of clarity on future demand didn't they do relatively well all things considered? >> they did very well from a point of sale standpoint and point of sale, strong point of sale means inventories are below average levels so supply chains back in working order, they can chase demand in the third quarter. that being said, you know, latin america is bate a bit of a messh now. the revolver recovery in asia pacific is going in the right direction there is no visibility how fast that recovery is occurring >> understood. i take your point they need to get product out more quickly 55% of the production is from china. are they going to face long term

headwinds there? >> china is 50% our production by the end of the year, it is expected to be 50% or a little below. they're diverse fifying the manufacturing very with until u.s. and india and other parts of asia. so over time that should decrease but the bigger issue right now is catching up with demand >> right a good problem for the companies to have. but the shares are still down today on a lot of the concerns eric, thank you for joining s. >> thank you for having me >> eric handler from mkm partners the ceo of mattel is going to join krayemer to night see if he can speak to the similar trends. >> think of all the scrabble games you're playing these days, jenga. >> imitation jenga >> hasbro was seen as a company

falling behind because they still had the old fashioned toys and games that people didn't play anymore they were going electronic >> we learned how to play hearts with cards. >> no kidding? >> yeah. tip to mom for that one. it also took googling and youtube, but we figured it out. >> way to go >> see you later, bill thanks for watching power lunch. "closing bell" starts now. good afternoon, everyone welcome to "closing bell." stocks higher. tech outperforming looking to make up some of last week's losses on this monday afternoon. let's have a look what the is driving the action progress in washington is helping to boost sentiment there are hopeful signs the surge in the coronavirus cases in the sunbelt may perhaps be plateauing but it's not the cyclicals that you might expect to be leading with that news flow but rather tech names like apple and netflix and semiconductors also hitting a new all time high during the session the nasdaq up more than 1% as we