good afternoon welcome. i'm tyler mathison this is "power lunch." a choppy session for stocks as wall street waits for washington to come together to make a new deal on the next stimulus package. we will tell you where everything stand right now at 2:00 p.m. eastern time plus, jobless claims dropping to

1.2 million. that's the lowest since the pandemic began we will tell you which sectors of the economy are hiring the fastest. the answer might surprise you. this company is powering up artificial intelligence for big companies amid the coronavirus pandemic and the stock is soaring. the ceo of live person i don't know if you can get a live person on live person but that's the idea. that person will join us later this hour. "power lunch" starts right now kelly. >> i'm here live live person a big company to watch. look at this

11,0 11,062 we could have that over 11,000 close like you pointed out for first time in history. remember that massive run higher in the nasdaq keeps going. at what point will it stop we'll have to see. there's a little skepticism building out another place that's driving the action in the nasdaq is the biggest company of them all out there. that is apple. the number we're looking for is $467.77. that's the number at which apple's market cap reaches a total of around $2 trillion. that move higher the stock will split soon but 467.76 just a stone throw away from there one place benefitting from the better economic data is the housing side of thing. this one is a bit lower right now. every one of them hit intrada record highs that home improvement frad still playing out big. speaking of, that leads us into the perfect segue into the ipo of the day

a hot one that people are watching but it is what's happening with rocket company up 25% right now. this is the parent company of quicken loans. prima primary mortgage origination it ipo'ed at 18. we'll send things back over to you. >> we highlight it's not rocketing and it starts rocketing? >> i think they watched rapid fire and the stock is now big. >> it's a different picture this afternoon. americans wait for a new round of stimulus money, the debate continues in washington big interview with mitch mcconnell and nancy pelosi today. >> that's right. the focus in washington is on the 5:00 p.m. meeting we're expecting between leadership the democrats and house and senate meeting with mark mad eas trying to hammer out a deal ahead of a self-imposed deadline of tomorrow. no real indication that there's

a deal in the offering all sides keep talking about a bit of progress here and there mitch mcconnell was on cnbc this morning talking about the fakture efa fractured position he finds his republican conference is a lot of members won't vote for a deal that spends more money. >> i think we need an additional agreement -- an additional deal. i agree with the chairman and fed and the secretary of the treasury i'm advocating an additional deal i've got members, some of whom have been on your network this morning who think we have done enough that's not my view >> speaker of the house, nancy pe lolosi says she does think i will be a deal here is what the speaker said. >> around 70,000 people have died while mr. mcconnell pressed the pause button will we find a solution? we will. will we have an agreement? we will. it's hard to share, go across

the table who wants to give a tax break for somebody to have a business lunch and refuses to give more money for children who are food insecure in our country to giving more for food stamps. that's kind of a definition of who we are >> the president continues to tweet about unilateral executive options he might have. some kind of executive order to extend unemployment bonus pay outs it's not clear that the president has the authority that he says he has to do that and that's why these negotiations on capitol hill are so important. that meeting coming up at 5:00 p.m. we should know a bit more when that breaks up maybe in the 6:00 p.m. hour tonight. back over to you >> that was senator portman he was referring to about not wanting to spend more. what was the full context of portman's comments >> reporter: there's a lot of

people in the republican conference who feel we're running a deficit that's too high we don't need to inject a lot more liquidity into this economy because things are basically fine right now we can't borrow against the future in order to finance present economic comfort what mcconnell is dealing with is a conference where there's a number of republicans who won't vote for any massive deficit finance bill which is what this is going to end up being he's going to have to end up supporting a bill that's largely driven by democrats and the president of the united states who has got his own short term political calculations in terms of the election coming up in november mcconnell is caught between here among republicans who don't want to add to the deficit. the president who doesn't wads to bill and allow the spending ahead of his november reelect. >> thank you very much we appreciate it all right. thanks stocks are near the highs of the session right now as investors await some resolution out of washington the stimulus debate does come

ahead of the big jobs report tomorrow that one will be watched very closely. here to weigh in on what's at stake for your money is michael farr i've been on vacation and more and more people seem to be asking me, i don't know what to make of this market. can i believe it can i trust it can i? >> sure, you can trust the fed you can believe. you can believe in some of the economic recovery that started already and we are seeing good earnings from a number of different companies while still others continue to struggle. i think that will be the story of markets those that are able to execute, have revenues, put money to the bottom line during a covid-19 environment and those that are sort of coming back slowly and

nobody goes down too much as long as the fed is there and the federal side of the government is going to give us another big spending bill and and relief package. i think stocks hang in here and maybe trend higher >> you expect that they will reach agreement. maybe they reach agreement with a majority of democrats and a minority of republicansvoting for the ultimate package you think there will be such a package within the next week or so, i would guess? >> i think there will be package because what i'm hearing in washington from my lobbyist colleagues are telling me the piecemeal kick the can down the road, do a few things now to keep it forward is not going to happen without serious penalties for the republicans from the democrats. they will want bigger spending on these items and that probably is a non-starter i think the whole package does get through but it's going to be tough. >> what do think of the market

at these levels and what lies ahead? the election is less than 100 days away. year end, there could be lots of bumps along the road, political and otherwise. we don't know. we've got nasdaq at or near a record up around 11,000. the s&p is very close. can we sustain these levels or move even higher >> tyler and kelly, thank you for having me on the show. yes, we're quite optimistic about the market while we think that the growth of the for the remainder of the year is probably going to be pretty much at the levels that we have it right now and specifically for the reasons that you mentioned the heightened unemployment, the earnings, the economics surprises that we're dealing with this year has been full of surprises that we're dealing with we're very optimistic for the next year. we think that as the economy continue to reopen as we are

seeing the unprecedented monetary support from federal reserve at historically high levels and we're expecting the fiscal stimulus and fiscal support of the economy which is so important is going to continue we're optimistic about equities. in fact, we're optimistic about tech sector as much as we're kind of cautiously looking at the rally towards the middle of next year we expect significant recovery >> i could just listen to you all day with that wonderful accent it's just terrific thank you for that it's great michael, you have a wonderful accent too it's a little more southern but let's move onto some of your stock picks which are an eclectic mix but an interesting one. you've got the water front covered there from food and beverage to investment banking to transportation to medical devices.

>> right i'm a big fan of her accent as well much better than mine. tyler, these are companies that have a lot of exposure to international revenues they are multiples in the world we're living in now. they all have earnings growth but with the dollar you've been hearing about the dollar falling and the ten-year treasury has been slow. those international revenues from all of those big cap companies are going to benefit from a weaker dollar and from that currency conversion these are companies that are executing now. they are at reasonable levels. they are a core of non-faang stocks that can balance out a portfolio over time and probably in a pretty healthy way. >> michael likes the non-faangs. how about you? where would you incremental

money go you don't have to name particular names unless you want to >> in the u.s. market we see attractive valuations in mid cap space. large caps had the rally we enjoyed significant growth and we think that mid-caps present attractive buyi ining opportunities. within the u.s. sectors we're looking at consumer discretionary, industrials and health care sectors that presen great opportunities. >> come back any time. michael, thank you you can come back too. >> thank you let's get a quick check now on the airlines. just had some news out the stocks are jumping after the state department has lifted the international travel advisory that was put in place on march 19th

u.s. citizens are still banned from places like europe. we'll see what the fuller impact is marriott is up 3%. travel stocks hit session highs as the u.s. lists its health advisory for international travel it's a busy day for uber there's a key court decision expected today that could impact whether uber will have to treat drivers as employees >> food delivery expected to be bright spot. wouldn't be enough to offset the slump in ride slaring. even with its postmates acquisition it's likely to be

competiti competitive. as for require sharing last quarter that he believed the u.s. was off the bottom but with economic reopening stall that key decision in california that could lead to a shutdown och iftss service in california. they continue to face intensifying regulatory pressures. back over to you guys. >> quick question. how is this ruling from ab five legislation that was put into place? >> it's not different. it looks to enforce ab 5

they should be treated as such this is california's ag saying they should be treated as employees. it's a continuation of this debate around ab 5 that will come to a head later this fall when it's going to be placed as a bell measure and ask voters to actually decide whether or not uber wins this exemption uber has been putting things in place to be excluded >> really appreciate it. thank you. ty coming up, two online travel stocks at session highs right now. trip adviser and booking holdings as the state department lifts its global travel advisory will there be a rebound in this space? you see a bit of one at this hour live person powers artificial intelligence for companies like dhchipotle, delt.

the stock surging. e o joins us next. more power lunch just ahead. ♪ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪

around this time preparation begins with flu season things are a lot different this year meg tells us that is vaccine makers are preparing for a

record year. >> the four major makers of flu shots together say they plan to supply almost 200 million doses of vaccine to the u.s. up from about 170 million last season >> this is about 15% more vaccine than we've ever produced before both the public and prooifrt iv demand has been tremendous >> fewer than half of american adults and about 60% of kids get the flu shot each year public health officials say they anticipate a greater push for vaccines >> in a system where some states have their hospital systems taxed to the maximum, the last thing we want on top of that now is to have beds that could go to covid patients be used for influenza patients >> every year the flu sickens between 9 million and 45 million americans.

causes 140,000 hospitalizations and leads to between 12,000 and 61,000 deaths. the flu shot isn't perfect ranging from 20 to 60% effectiveness each season depending how well scientists predict which strains will be circulating. the cdc says the vaccines sprents millispren prevents millions of illnesses and deaths >> it protects us and if we don't get sick, we don't spread it to other people it's been shown to lessen the severity of illness. >> guys, experts say we saw routine vaccinations in doctors visits plummet during the shutdown in the u.s. they are hopeful those are climbing back and they are encouraging us to do everything we can to protect ourselves this fall >> meg, i can see that demand for the vaccine coming higher as people want to protect themselves from possible

influenza. i wonder if some of the precautions we're taking to ward off covid might mean that we would have a milder than average flu season since we're already socially distancing and wearing masks and doing things like that >> it's definitely possible and something public health officials hope will happen i asked dr. fauci about this today during a media briefing. here is what he told me. >> my hope is that both of those will be down that vaccination of the flu, public health measures for flu and covid would have us be in this situation where both the flu season is blunted and we have very little covid >> of course, that depends on all of us taking these steps to protect ourselves and each other. back over to you >> that's for sure thank you very much. coronavirus cases remaining high across the country and the

role of artificial intelligence in corporate america has never been greater live person, which isn't what it sounds like. it powers ai messages for companies like chipotle and delta. shares are benefitting wall street is seeing this surge and the stock has moved over 300% higher off its 52-week low. let's bring in the founder and ceo of live person welcome. >> hi. how are you doing? >> i've had a pretty good experience with chat box i had to deal with amazon's yesterday. i don't know if they are a customer but you have a lot of fortune 500 customers. what's the biggest shift towards using ai amid the pandemic is it because employees are working from home or what's accounting for the demand? >> during the pandemic, voice contact centers got shutdown and every one was sent home. not every one can take voice calls in their home or have

access to broad band to have systems access we had major, major shift into our platform for automation and chat box and things like this. i've said this for three or four years, i really don't see voice as a real solution for the present future calling and being put on hold and none of us like that the ability to message, you can make a burrito and go to the door and they will hand it to you. >> how do you stand apart from the ground i imagine there has to be a lot of vendors and how do you make mon money? >> we are very unique position we generate about 70 million conversations a month on our pl platform our data set allows us to take those conversations that are normally human based and we make them into automations.

we have one of the largest data set fs in the world for ai. we work with the largest automation centers in the world. we really have a unique set of data that puts us in the poll position for this type of technology >> as we know, especially with something like ai, you need a lot of data in order to make that work better and better. you guys are not a new company founded in 1995. it's been over the 20 years we have seen so many different changes in the technology. what do you think the next couple of years will look like >> the world shifts from e-commerce to c-commerce or conversational commerce. the concept that we can talk to

a machine. even say get me an uber, the con sent you have to go on a device, download an app, that's going to go away. we'll have points of access where i can have a conversation and say do something that's the future that we're creating i don't see e-commerce being the future i see conversational commerce being the future >> all right thanks for joining us to explain it all we wish you luck >> thank you >> i love my alexa are you hear now let's listen

where are you, alexa well, some times she's smart and sometimes he's a moron still ahead, stocks at session highs as jobless claims hit a post-pandemic low. how about that, alex a we'll tell you where the jobs are. travel stocks making a comeback from march lows. still struggling this year at ders will tell us which beenown names are making a mark after this quick break. let's hear it for kansas city monarch legend jim robinson. crowd: (cheering) celebrate your history together. the all-new highlander. toyota. let's go places. the covid-19 pandemic is creating food insecurity

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they are better than the hotels. let's bring in matt and steve. the state department encouraging but the catch is americans still aren't allowed entering most countries around the world >> it's incrementally positive you still have restrictions on americans coming in. i think people aren't just staying home because of mandates you're staying home because they are worried about their health and the idea, even some of the flying conditions are less than what you'd like them to be i think for a lot of reasons you'll still see travel levels down the idea there are parts of the

world that have gotten coronavirus under control we can start to lift restrictions, it's a good thing >> hilton stock is down. 90% of its hotel rooms are open. sgr i did a little traveling recently and it looked pretty bad. you look at the way the stock has acted and it's been good you look at the chart on hilton, it's bumping up against the top line of a triangle pattern there's a lot of uncertainty out there. i would want to see it break bovr its 200-day moving average. don't send this stock into the

batters box. don't be afraid o miss a bit but if it can break above its 200-day moving average, it's going to fly be ready to use it if and when it comes >> all right good perspective don't miss my exclusive with glen fogel tomorrow on the exchange ahead, it's the state of the job's market we'll ask linkedin chief economist where the jobs are the trend could be here to stay this and more when "power lunch" returns. stock slices.

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welcome back, everybody. here is your cnbc news update. the national rifle association harshly criticizing lawsuits brought by new york state and the district of columbia alleging financial improprietors at the pro-gun group nra president calls them a baseless, premeditated attack on the nra and gun rights president trump calls the suit asterable thing and recommend the nra move its headquarters to texas. the u.s. special envoy to iran is stepping down. bryan hook has tried to force change in iran the move comes a week before a u.n. security council vote on extending an international arms embar embargo. some have said that measure lacks support. with the dwrotokyo olympics postponed, the giant olympic

rings are being floated off to safety they are being moved to protect them from possible typhoons. officials plan to return them in december kind of a sad site, right ty >> yeah, they have to be put back and moth balled for a year. so much has been disrupted let's take a look at stocks that are now at highs of the session. about a half point higher for the dow industrials. 135 points about the same for the s&p 500 take a look at the move in apple now at session highs as well up 3% and it is about $12 a share away from hitting a $2 trillion market value in total up 3% today.

kelly. >> it's just an incredible headline that's coming 1.2 million more americans are seeking unemployment benefits for first time last week as the job losses mount, what does it moon for tomorrow's job report and the road back steve joins us with more >> kelly, it's a new world in economics forecast using a host of realtime indicators to gauge the impact of the virus and the shutdownen everythi shutdown those realtime i understand indica -- indicators suggest a slowdown. we're looking a t the realtime data it could be flat to down looking at kronos time punching, they are cataloging hundreds of millions of shift schedules. we'll look at that in saea secod the home base employees working down 23.4% compared to january

and census with a new weekly indicator down 4.7% when we compare the survey week from june and july. take a look at crkronos take a look at the road back barometer for the census data. sho showed good strength again some could push the number up. kelly, how crazy are thee es estimates out there. i've seen everywhere from negative to flat to high as as three. there are plenty still of job hurdles to overcome, some positive news on the higher front. data shows that nearly 58% increase in u.s. hiring in july

from june. retail and entertainment saup the biggest job gains month over month. while some industries like industry and mining are still seeing job losses. important to point out that those gains started to level out the last couple of weeks of july as they were peaks across the southern part of the country here to make sense is karen kimbro welcome. good to see you. the numbers when you compare month over month in the united states are really quite gaudy. they are very exciting and great to see and suggest the economy is coming back with you give us how the economy, in terms of hiring compares today versus one year ago, how healthy are we. >> sure. the answer is we're still about an aggregate in the u.s. about 10% below the level of hiring we had a year ago we're not all the way there. on top of that, there's a big divergence between industries.

there are certain industries that are coming back pretty aggressi aggressively entertainment, one of those fast growers is coming from a deep trough there are industries coming back more slowly and there are industries that haven't come back at all. it's a big range of pace and recovery we're seeing market plateauing and our guess is that even tomorrow's number looks okay, numbers coming forward are not going to be that great >> what does entertainment include for purposes of this measurement? >> entertainment can be anything from amusement parks to some of the big name providers of movies and television shows it's not tech but it's the traditional entertainment of either physical entertainment. it could be theater as well.

these are parks. >> it's not food and beverage. it's not the restaurant trade? >> no. that also has been suffering from the one step forward, one step back of the shutdown. >> i want to get there and i want to talk about different cities and regions of the country where the hiring is trong stronger or weaker are we in the middle of the class, top of the class or bottom . >> i'd say we're in the middle we had impressive acceleration in june. there are other countries that continue to accelerate frans for the last couple of weeks has picked up 12% more

acceleration in its highing. brazil is accelerating beyond us behind us are the uk and australia. both of which have been hit by rolling shutdowns and rising incidents of the virus that is having a dampening effect on their pace of hiring and lagging behind us. >> tell us about cities doing better and those that are lagging in terms of year of year or month to month hiring growth. >> every city is still down year of year compared to a year ago 15 of cities have posted double digit gains. thecities closest to getting back to normal are the second cities phoenix, nashville, dedetroit, miami. it might be those are cities

where they reopen sooner they are relatively cheaper because where we're seeing cities not come back are the ones that are large urban centers and known to be expensive. new york and seattle are 30% where they were a year ago >> our may grags says people are choosing to move an whern they can to cheaper places to live especially if they can work remotely >> we hear a lot about there thank you very much. we appreciate it kelly. coming up, we used to think phones and tablets were killing the pc market. 'lte yk from home saving it? wel llou about the pc boom that's going on. stay with us

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welcome back let's get to the bond market rick is tracking the action. >> interest rates were at their low yield high prices early. as you look at intraday chart you'll see at 8:30 eastern we started to move them up a bit. it was good news seasonally adjusted data for initial claims we moved below one million. if you look at a chart of march 1st for the lgd, these two investment grade and high yield for corporate securities, you could see how they continue move higher mimicking the great buys and value that seem to be going on in investors mind in the security market and 24 hour of the euro versus the dollar

first time in 27 months it stuck its nose above 119 tyler, back to you thank you very much. bernie sanders, remember him in he's bashing billionaires again. today proposing a new tax on what he calls obscene wealth made during the pandemic by those folks. we'll get a check on the real numbers after this 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 bernie sanders going back after billionaires he said made obscene wealth during the pandemic robert frank with a look at the numbers. >> he's calling it the make billionaires pay act

proposing a tax of 60% on the gains of america's billionaires during the pandemic. sanders saying billionaires have added over $730 billion to their wealth since mid-march with the top three now worth more than the bottom half of the entire american population. he entire american population. he tweeted when so many people are hurting, it's mortgagely on sees for billionaires to use a pandemic to make outrageous profit zuckerberg is actually half that total year to date just the tax on his pandemic gains would be larger than the total gains for the year

steve ba-- revenue would be a l, but the guise would only cover about 10% of the deficit that we have right now robert, sorry, the purpose was to cover 10% was to fund programs >> yeah, goes directly to health care it wasn't specific on what programs, but basically said, look, at these americas are out of work. all of this would go to paying health care for everyday americans. >> robert frank, thank you ty kelly, if you're like me you've had to work from home a lot. alexa or not -- there she goes again. it's a good chance you've had to buy a computer or maybe a printer. we'll look at the companies that could benefit from a historic sale of laptops and deskstops.

you can always watch a ltendisn to us live on the go on the app. we'll be right back. ♪ ♪ ♪ ♪ ♪

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the pc market is powered up, super charged all because of more people working from home. josh lipton has new data on global computer sales. josh >> that's right, tyler idc sharing the latest data with cnbc, and showing that global pc shipments in q2 here surged 13% to 73.7 million units. that's even stronger than the research firm initially estimated. hp taking the top spot with 25% market share followed by le nova, dell, apple and acor

now he says the pandemic is forcing people to work, learn and play at home the big question, of course, does this trend continue and if so, for how long. let's dig deeper into this trend. tom brand is tracking the latest trends great to have you both here. tom, is the boom over? was it a one-time, you know, depths of covid type thing or is it persisting? >> i think everything with covid, it's difficult to tell. manufacturers typically advertise the feature of npcs as something you would want to upgrade to so if consumers are looking at that, if the initial wave now, and thing return to normal fairly quickly, we might not see that, you know, the pc trend

continue, but if it does, look for another boom in a couple years. >> it would seem on two fronts there were be lasting demand for student laptops, and also, we have experienced this in my family, we need laptops with better front-facing cameras. now everyone realizes the important of having it >> yeah. basically we have seen, you know some of the most highly rated, inexpensive laptops, the one bests for families and students, sell out very quickly, but i think, everyone, like you said is looking for camera quality. that really is not something that pc manufacturers have paid much attention to at all we're still stuck with the 720 webcams. apple just released a new i mac yesterday that has a full hd 1080 camera.

>> so, christopher who are the bigger chip beneficiaries, kind of going all the way back through the supply change? >> yeah, our favorite here is amd, but very clearly intel has been the beneficiary as well these are the two main pc players. we've also seen other peripherals benefit from work from home. for example, people are upgrading their home routers as well, to things like wi-fi 6, for example. so that's another example. also, pc docking stations, for example, sales have been way sin -- synaptics who else is on your radar?

broadcom in two ways number one, they do the home router or home gateway that upgrade process to wi-fi 6, they're the laid leader, but in addition you have data center benefits for broad com as people move to more cloud-based applications as a whole. >> finally, tom, i'm curious since we mentioned amd and intel, is intel inside these pcs? >> actually the hottest witnesses that we have seen, especially in the midrange, like the 500 to $700 range, have actually been with amd's latest fourth-generation laptop chips those have been -- some of those especially with hp and lenovo, those have been almost impossible to find new model directly so i think that's correct you

know, those consumers are looking for value, and the they are providing that. >> which laptop maker is benefiting the most right now, tom? >> from what we have seen, the hp and lenovo laptops, they use those mostly in the budget range, have been the quickest selling. i don't have sales numbers, but, you know, every model -- he right after its introduction. >> interesting great stuff, guys. thank you both ty, i bought a new laptop at costco earlier this year right before demand really spiked. so i'm in the mix. >> you know, i think it's absolutely true. we now have two more laptops than we had in march, one for work, one for my son, an ipad that's on the teleprompter, or ipod i think it's called, and an

ipad so there's a lot of buying going on the nasdaq, as it has been doing, now at 11,101, up 0.9 of a percent. kelly? >> impressive stuff. let's hand it over to "closing bell." we'll see you tomorrow on "power lunch. good afternoon, everyone welcome to "closing bell." i'm along with sara eisen. stocks have been fluctuating, but we're seeing a strong rally into the close, the nasdaq in particular at record levels. constituent a lack of real progress, but both sides insist negotiations are move forward. 1.2 million people still applied for jobless benefits, but that number not quite as bad as