the way to the outlets that's a name i think i might follow as my yellow trade also >> jenny >> unum, 6% dividend, three times earnings >> joe >> iyt, transports etf >> jon >> amgi, a lot of call activity, melissa. >> that does it for us here on "halftime. "the exchange" starts now. melissa, thanks. we will see you again soon hi, everybody. here's what's ahead this hour. a two-month low in covid cases, hope for potential plasma treatment and housing on an absolute tear. is all this positive news a recipe to continue the rally stocks up 249 on the dow right now. wow. still with millions of students not entering schools this fall, the economy could lose $7 billion worth of essential services we're going to look at the areas and some of the stocks that could suffer and they may already be on your radar plus, investments too good

on social. casino royale, take your vacations, dom that's all ahead in the markets. mr. chu with the numbers >> i've got some strong takes. it's weather they will pay me for my vacation time let's talk about the record highs. i want to put the gold stars up right away gold star for the s&p, gold star for it is nasdaq composite just for your mark here, $34.26. that's the new record intraday high for the s&p also watch what's happening with energy and financials in particular they are outperforming the overall market today, financials and energy, but i want to remind viewers and listeners out there, because financials and energy represents the two sectors that are worse on a marge in on a yer

to year basis. energy down about 40% year to date, so there is a lot of ground to make up there. one place to watch we've talked so much about the momentum in stocks like amazon and tesla and microsoft and all the others out there check out this particular etf. the ishares msci usa momentum. it's a mouthful, but it tracks price appreciation as a factor in picking its stocks. that at the lows up to where we are now is up 65% in that run. the s&p is up a very respectable 55%, but again, you look at these particular stocks, is the apples, kelly, the amazons, the teslas, the microsofts those four stocks make up about one-quarter of this entire etf back over to you >> just bigger by the day, dom thank you very much. some positive developments in the battle against coronavirus. a decrease in cases, emergency

approval for plasma treatment, a possible astrazeneca covid-19 vaccine. joining me now to talk about that, barry knapp is managing partner and jeff crumpleman is chief adviser at maritime advisers jeff, do you think the market has been sensing that the news on coronavirus might turn better, or is it too soon to even be talking about better trends on the covid front? >> we don't want to get ahead of ourselves on the coronavirus i do think it will skew towards the positive, and with the policy support that we've had and the improvement in the fundamentals over the last several months, i think that that has given a lift to confidence and psychology in the market, and then just on the margin, the incremental positive news on vaccine, on various hasi

don't think we're out of the woods yet. >> you have a target of 3500 on the markets. even as the market has come back and surprised many observers, what are your thoughts here, barry, etf definitely in greed territory. do you think things have gone too far too fast >> knyou know, in terms of the absolute level, we were inclined to stay with that 3500 target and maybe raise that if we did get some positive incremental news on policy, additional policy on various treatments for covid, but we're very comfortable just kind of hanging where we are right there with those targets and think that the fundamentals are very solid. it's been stronger and quicker it's been the fastest, you know, 100-day move off the bottom in

the s&p 500 on record in history. if this news flow continues to be positive, and i would add, i think, on the election, too, as we move through some probably savvy moves around the election as we move closer, if we move through that, we do think we're onto higher highs. >> and barry, you do think in many ways this stock market is an approval of the economy that's to come in 2020s. jon has been out there for months saying we're going to have a pent-up demand, that the economy could really surprise us on the upside. what do you think is going on here >> the way i would approach it, and in particular, when you think about the tack versus eccentric cyclicals, even what's going on today with financials and energy performing well, i do think the market is giving you a very good preview about what the economy is going to look like

through the 2020s. we're going to see, in my view, an acceleration of technology energy adoption through a range of sectors what i think that means with tech, though, the benefits of that will move through the producers of technology, i.e., the software companies to the consumers of that. the health discretionary sector, you saw that last week, target and walmart using that amazon to make it through the crisis i would not expect the same level that tech had during the 10s. from a more tactical perspective, i do think we're vulnerable to a correction in the next couple of months. what the most probable cause that i think could cause that would be a shock higher in real rates, like we had in january of 2018 or in september of 2018

where the rate of change of fed purchases slows. clearly a catalyst for concern about that could be real progress on therapeutics or a vaccine or something else where everyone said, now we're not concerned about the economy anymore. real rates shot higher, and that causes asignificant correction tech would probably get hurt in that scenario. worse, if only because it's gone up the most. so i do think we should be a little cautious and have some powder dry with that sort of a window as we look out into 2021. >> even if real rates shock higher, it's for the right reason when you come down from minus 1%, that's a pretty dire look for the economy. if people catch up to the scenario we're discussing here, maybe it would be a good thing even if it's a short-term headwind jeff, i'll finish with you do you maintain exposure to the stock market broadly, or as barry suggested, do you maybe want to trim on technology

>> i'm 100% with barry on this i don't think you necessarily need to trim with technology, and i think it's just a myth that it's only been the faang stocks that have done well we've had great success with stocks like salesforce and micron and microchip i could go on and on i think balance is the key this idea that you need to run the cyclicals, i think, is a little off base. you need balance, you need growth and value, and i don't think this is the time to jump into the spit in the wind stocks caution is important over the next couple months we're pretty confident, caution near term and have a nice blend of both growth and value >> i haven't heard the high flyers called spit in the wind stocks yet, so that's my takeaway for the day thank you both, jeff krumpelman

and barry knapp talking about these stocks we appreciate it we turn to less exciting news day it's bad, bad news in natural disasters. the california wildfires have record heat, wind gusts, now wind storms hampering these firefighting efforts adidi roy is out west with the latest for us. adidi? >> reporter: hi, kelly, the sun is just beginning to peek out from the smoke this morning. winds are definitely calmer after a roller coaster of a week as californians have braced for hundreds of wildfires burning throughout the state those wildfires sparked by some 12,000 lightning strikes over the last ten days. they touch off 625 wildfires burning more than a million acres. those fires have killed seven people, destroyed 1200 structures and evacuated tens of thousands. the white house approved california's request for a presidential major disaster declaration over the weekend, and you can see now from this

graphic how much of the state is affected by the fires. more than two dozen counties are impacted from top to bottom of the state. the two largest blazes, the lnu up in wine country and the snu which covers five bay area counties, including santa clara where we are, they are now the largest fires in california history. right now the lnu fire is 20% contained while the scu remains 10% contained. some good news we just got, the national weather sfervice canceled its red flag warning for thunderstorms. that was supposed to be in effect until 5:00 tonight local. definitely a glimmer of hope for the thousands of firefighters on the lines. >> we're thinking of the economy here these cities, are they very affected by what's already happening with the firefighters? in other words, if you're a

restaurant, you can only sit outdoors right now is even that experience now in jeopardy because of what's happening? >> reporter: absolutely. i can tell you being here in san jose, it was -- the air quality was horrible this weekend, and people are definitely -- fewer people on the roads, i've noticed. the roads have already thinned out, obviously, because of the pandemic, but they were even thinner this weekend a lot of people are even trying to skip town in search of better air quality. >> absolutely. getting outside right now is kind of the one way to deal with the pandemic if you can't do that, pretty difficult. adidi, thanks. coming up, the battle between apple and "fortnight" epic this as the stock hits all-time highs and prepares to split, we will look at what's at stake plus millions of students stay home this school season it's not just retail to lose,

there is $700 billion at stake plus doordash could be opening to an ipo. we'll have more when "the exchange" continues. door da

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their record surge, hitting another all-time hyatt over $515 a share in the upcoming share split. that split will not only mean a new share price but will have a huge impact on the dow right now the dow is 12% because it's price weighted. at today's prices apple will drop to the number 1 influencer to number 12 to get a glimpse of apple on the dow, at an all-time high it added 1,519 points to that blue chip stock this year while epic continues to be the darling of wall street, it is not getting growing love microsoft warned in court that if apple blocks access to its gaming engine, it could have an

effect on the entire gaming industry for more let's bring in jack nigus and steve kovak. it's good to have you both steve, is this just an irresistible opportunity for microsoft, or are they right this would be a huge setback for gaming in general? >> that's right, kelly, there are two things happening here. one, microsoft does have a legitimate concern that the microsoft that epic uses to make its 3-d games, but other game owners that need the software to make those innovative stuff we like to play on our phones but microsoft is angry with the streaming service called x cloud. it's kind of the network of games, meaning you can stream your game from anywhere, you can pick it up and play on your phone and start over where you

left off on your xbox. but apple is blocking that service from being on ios devices, so no ipad and no iphone you can tell they're reall upset about this, so by joining epic in this lawsuit and backing epic's argument, they're really kind of poking apple in the eye. they're saying we got you on this legal avenue right now and a little bit down the road, we really disagree with your innovative new streaming service you're working on. not to mention google has a similar service that's also blocked from the app store >> jack, i wonder if apple has gotten in over its head here as investors are totally perturbed by its developments. why? >> obviously the economy is somewhat in tatters by some measures, but for investors they see apple as a company that has such a wide lead over their competition that they're going

to be just fine. also, i mean, the pandemic has been pretty good for apple obviously i'm talking to you through a mac book right now, and this is how many of us are conducting our lives and our business nowadays. but i think one big question is what steve was just talking about, and that is apple's cut of app revenue that has been a huge growth in the last few years and that market has become saturated. but now it's finding many of the companies where it's taking a 30% cut of the revenues, they're speaking up and saying, this is too much >> steve, as you mentioned, this is all connected to a court case against apple that's building here how significant of a challenge is being mounted and what about last week news publishers were upset because they found out apple was only charged 15% for an app rate when they were being charged double for new subscriptions? >> there is a sweetheart deal

that apple has cut companies like amazon so get less of a revenue cut. you have to think about these other companies also who have spoken out since this epic thing first started. we have spotify, facebook. it's this growing coalition. they're not necessarily together, but they are feeding off each other and speaking out against these policies that they view as unfair >> so, jack, spin this forward for us again, the first place we would look for the impact would be in the stock market for people to be discounting, hey, there is a potential that this app store revenue stream may be less promising than we first thought, yet we're not seeing that message come across, are we? >> we're certainly not, and i think there are other prevailing factors that investors may be considering, including the fact that apple is about to launch a new iphone that many see as a very significant business move given the fact it's potentially a 5g iphone, and there are

buyers who are ready to upgrade their phones, so that's certainly promising to the stock. but there is also the fact that apple is kind of a bully here and it has all the power to essentially tell all these other companies, sorry, too bad. unless other regulators step in, there is probably little that can happen aside from a court case that would take years and years to play out for apple to really have to change its terms, because it really is such a gatekeeper and has so much control over how we live our lives. >> steve, i'll give you the last word would you agree with that or is this pressure from other players, forget the regulators, could these other players bring enough pressure to bear? >> yeah, i really think it's going to come from that board we just showed, all these big companies that maybe obviously don't have the same power as apple, but together maybe they can force apple to make some change to the rules outside of court. otherwise this is going to keep growing and getting louder so i expect some kind of movement, whether legally or just apple doing it on its own

>> gentlemen, thanks appreciate it. jack nicas and jeff kovach the street has been bullish on social stocks, maybe too bullish. why one analyst says it's time to get cautious. we have that and we go inside the new movie-going experience in the covid age. stay with us i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪ an army family who is always at the ready. so when they got a little surprise...

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you can finish. - [announcer] finish your degree at snhu.edu. welcome back to "the exchange." here's a check on your markets right now. the dow is in a leadership position which we haven't seen often, but that sets the tone of everything going on behind me. the dow is up 300 points and does help apple which is over $500 for the first time. here's what's going on behind me most of the sectors are in the green today, but the leadership is slightly different. it's a rotation into energy and

financials, two names we rarely see up there, but this reopening trade is kind of tying everything together right now. 1% for financials, technology up 3/4 of a percent some of the individual movers today include shares of zoom video. you may have heard about these partial outages in north america and parts of europe. the companies have been investigating these outages. the shares are down just under 3% as i mentioned, the reopening trade is in full swing take a look at the cruise line stocks carnival and norwegian up 7 to 8% the airlines, same story, american and jetblue just slightly less than that. and there's no stopping tesla. call it reopening, call it just tesla, its own trade right now it's trading at about $2,030 a share we're down about 1%, but in the past week we're up multiple

iterations of that in the past month we're up 40%, and for it is year we're up more than 380% on tesla let's get over to sue herera now for our cnbc update. hi, sue. >> hi, kelly, hi, everybody. here's what's happening this hour in the last hour president trump came on stage at the republican convention in north carolina to speak to delegates after they formally renominated him to become the party's next candidate. he couaccused democrats of tryi to steal the election, quote, unquote. dr. fauci is back after removing a polyp on his vocal cords last week. he will have to refrain speaking for long periods of time and american airlines gets the okay from the epa to use a disinfectant which fights the coronavirus on some surfaces the airline will start spraying

the substance in its cabins, but it eventually hopes to use it on its entire fleet the disinfectant, however, is not a substitute for cleaning. kelly, that's the news update back to you. >> that's a promising breakthrough that would be great. >> they got emergency use just in texas, but they're hoping to expand that, but keep in mind that new york is one of their biggest hubs, so some of the bigger cities will have the benefit if they spray down those planes in texas. movie theater stocks are also higher today. this weekend and for the first time in march nearly a third of u.s. movie theaters opened their doors. people actually walked through them cinemark is up 4% today. one movie goer shared their experience with julia boorsit.

julia? >> a movie theater opened for the first time since march it was for "unhinged." it sold some $4 million in domestic ticket sales. pre-covid, that would be a disappointment, but now it's increased demand we talked to a woman inside the orlando cybertheater about what movie going is like right now. >> even before you walk in the front door, the signage is very noticeable there is an individual behind a plexiglass partition to take your ticket, wearing a mask. i booked my tickets online, and i also preordered concessions online when i arrived, they handed me concessions in a gift bag type setup. the cups came in the bag as well, and the cups were like self-serve cups. it felt very vacant, like ghost townlike during the movie, after the

movie, before the movie, i felt safe and it was clean. >> seven states, including california and new york, those seven typically account for about a quarter of box office revenue. they're still not allowed to open theeters, so kelly, it will be interesting to see when those states join releases as well >> that popcorn looks so great, but i can't do it. i'm not ready. >> look, kelly, a lot of people, including myself, are feeling like you i'm very comfortable watching movies at home, and for a lot of consumers, the fact that more films are going to be available at home at a premium price, people are going to be willing to pay if they can watch at home remember "mulan" for disney plus subscribers will be available for an additional $30, so it will be interesting to see what that does for movie goers and how that changes statistics on how many people choose to pay $30 for a movie athome >> we're all very eager.

i'm sure we'll find out at some point but it's going to be a very big number. thank you, julia boorstin. investors are betting on casino stock, some at 58%. plus doordash is opening the door to an ipo and saying no, thanks to a direct listing we'll tell you why and please take your vacations. we're back after this. just don't take them rhtow traded goods. tools, cattle, grain,

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welcome back let's catch you up on a few stories that should be on your radar today. it is time for "rapid fire" with

contessa brewer, dom chu and kate rogers. can we now say, kate, that you're out west? it looks beautiful out there, wildfires notwithstanding. >> that's right, thanks. good to be here. >> i'm still so sad. i get it, i'm over it, but can't wait until we can get back in person it's not the same, you know that >> i'll visit you, kelly i'll be there. citi is getting bearish on certain names today. facebook is their only birated social media stock the analysts say digital outperformed digital ads in the second quarter and that's helped why we're seeing these stocks this year, but dom, it implied it's going too far too fast. >> not just too far too fast, the absolute run for some of these stocks even if you take out what happened in the pandemic lows in the middle of march have been fairly staggering, and just look at the

market caps of some of these companies. we talk about microsoft so much, we talk about apple so much, but so much of these social media companies have a runup because people thirnk we're using them more, people think we're taking them higher after pandemic lockdowns. >> you kind of have to tip your hat and say pinterest is up 85% this year, snap is up 35%. they're saying these firms could add $20 billion of revenue growth to these companies in 2021 and 2022, which is 5 billion more than they did in 2018, so how much is because of the pandemic media line? >> i'm talking from personal experience the amount of ads i've seen in

my social media feed and the number of times i've bought something off that particular ad, it was usually less thrilling than it seemed when i first saw the ad, but clearly they were appealing to something in all of us sitting at home talking to our friends on facebook rather than talking to our friends. >> kate, i think about it when i walk through home under the train station where all those advertisements are on the walls, and there's just no one taking the train these days, so the value that people paid for that is obviously not what they hoped. i clicked on an ad on pinterest once and the shoes were so disappoint,i disappointi disappointing, i never clicked on another ad again. >> i fall for things like sweat pants, et cetera, it worked on me, but what's the catalyst moving forward we're all already online, we're online more than we've ever been, so where do they go from

here >> facebook still maintains a buy rating in snap's case a sell. casino development thanks to advancements of a vaccine even today. we have mgm, wynn, las vegas sands and melco resorts. mgm had this investment from barry diller, but broadly speaking, is this because the covid trends look a little better or the stocks got so cheap or what? >> they've hit a jackpot of good news headlines for one thing, they're about to start seeing the gates open up for tourism visas in macau already they're coming for juhai city that will be a big deal for mgm sands and the ones listed on the

exchange here. domestically, you have all these casinos who reported and they're saying, we have people coming in and visiting more than they did pre-coronavirus, so even though our occupancy is capped, our players are more valuable and we've cut massive costs. they've seen profit margins improve by 200,000 basis points. you just had a deal done with el dorado and caesar's now making it the biggest competition a big yen for sports betting it just seems whatever downside there is, higher infection rates in las vegas, for instance, you just can't keep the casinos from rolling the dice and moving forward. >> it's interesting, because the casinos, especially the ones with coin slots, has a shortage of coins in this country, but it reminds me digital gaining has seen a huge advance.

i wonder if this could be a headwind for the stocks going forward. s >> it could be a headwind or a tailwind moving forward. many individuals run into me in casinos in las vegas or in my hometown with american casinos, however, if you look at the thesis going forward, if some of these large-scale operators can actually change the way they put their offering out there, not so much a focus of the in-house experience but more on the digital side of things, there could be a huge amount of totally addressable market for some of these casinos out there. myself, i relish the day we get a vaccine and can go back into a gaming establishment, hang out with people at the craps table and the blackjack table, but until then these people have a real paradigm shift going on >> i had no idea you were so passionate about the casino experience >> i'm a fan of the casinos, for

sure doordash is reportedly back on track for a traditional ipo for november or december this year reports of the company say they were considering a direct option they were valued at $36 billion in june after raising 400 million, kate. it seems like a no-brainer to go public right now no matter which method >> $16 billion valuation but has become such a big player, particularly in the space i watch with the fast food companies. you saw them pairing up with uber eats in the beginning and doing a lot of exclusive partnerships with that service, now doordash basically every restaurant player that matters that's working with aggregators is also working with doordash. as you said, during the pandemic, more productive than ever, but what happens with contract workers, for example, how that could potentially impact its business model moving forward. >> what about where we stand, dom, with california how they

classify employees even with uber, they have said we think we would have to shut down rideshare, we wouldn't have to shut down delivery. but they might have to is this business model going to be under threat if we don't figure out a way to do kind of portable benefits? >> the one word i woulduse is fluid. this is a situation where the regulations and rules and laws are actually just evolving because we are at the frontier this is a situation in an industry that is really kind of at the forefront of things and has evolved so rapidly over the last few weeks when it comes to food, i mean, yes, the employment loss could be what they are right now, but i get a feeling you'll see those things change and play catch-up pretty quickly if these trends can persist with regard to restaurants, food, delivery, drivers and everything else. it's only a matter of time >> if airbnb that was hit perhaps most by the pandemic can go public this year, doordash probably should. next up, it may be my favorite story of the day.

employers are debating what to do with all their employees' unused vacation time this year the s&p found their vacation usage was only 4% this summer, contessa, down 24% in a typical year they're wondering if everyone is going to take their vacation at the same time every year and leave them with no one to work >> i was talking to one of my bosses about this very issue back in march and predicting that if we can't go anywhere, who wants to take time off to go clean out the closets and go weed the garden? that's not much of a vacation. yet if you do it, and the studies show because we're spending all these off hours on company e-mail or doing zoom meetings at off hours, that the time off might be more important. these employers have to decide, are we going to hold it over, which could be a problem for the bottom line, and then you have all this accrued paid time off next year. are we going to allow our employees to donate some of their time are we going to force them to

take the time and say here's your week, take it, use it or lose it? i don't know >> i wouldn't want be forced to take it. dom, what about you? >> i'm okay with all these possibilities as long as it's equitably put out to every employee in the organization for me if they would pay me out for my unused vacation time, i might have to think long and hard about whether or not i wanted to take the physical time off. but i'm with contessa here the more i found this, and i have a wife who is now working from home and has been working her butt off for the last -- >> on maternity leave. >> on maternity leave and everything i've watched her work harder than i ever have in my life, certainly during our marriage. i feel like you have to take the time off even if you're in quarantine for your mental well-being >> most companies do not have the cash flow right now to be able to say, sure, we'll pay everybody out. >> if that's the case, maybe you let them accrue it past a certain time or maybe you take

away the expiration dates that you can amortize they're going to get creative everybody needs the break, that's for sure. since the pandemic restaurants have launched campaigns to hire nearly 500,000 workers we're talking everyone from mcdonald's to papa john's. papa john's is up 57% for the year, donnemino's has new pizza, chicken taco >> that innovation has become really important chee cheeseburgers and tacos do not carry well we'll put it on our pizza and we'll get it to your door and it

will be tasty. a lot of names that have really done well during the pandemic also chipotle,subwand the ones have gotten this right, they're taking off >> contessa, it's interesting they're doing stuff that doesn't travel well on a pizza it reminds me of my local place that has a salad pizza which people love. what else needs to go on a pizza to preserve it i don't know, but all these jobs, let's say you worked at a mom and pop restaurant, are you going to become a driver for your local pizza chain i don't think so maybe. i don't think so that was for contessa. but dom, you can go ahead since

you're right here. >> i would say this. having listened to what you just said, my thinking is if you are an employee that's looking for work in this kind of a situation and we have an economic environment like we're in right now, i personally would try to find whatever opportunities i could, whether it was at a mom and pop or whether it was at a chain, but if i could find a way to get a paycheck or collect more money, chop more wood, so to speak, sweep more floors, whatever i needed to do, i would do it. i think i can kind of get along with this trend of hiring, especially at some of these fast food restaurants >> it's good to highlight the places that are hiring, not just the ones shrinking good to see you dom chu, contessa brewer, kate rogers really appreciate it it could cost betwe$700 biln "the exchange" is back in a couple

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this fall some 56 million k-12 students will return to school full-time, but others will be attending class virtually, and there are mothre that will experience the hybrid model. the debate of opening schools is hinged on the covid-19 risk to students and teachers. but according to barron's, if schools remain closed, the total loss could be $700 billion let's go to lisa for more on these strict costs lisa, it's good to have you here tell me about what particular part of the market you're talking about. >> thank you for having me to come up with the $700 billion number, most recently slt his tt to retail sales. the back to school season is second only to the holiday season and makes up about 15% of annual sales retailers this year are bracing for a decline of about 20% as

most parents say they don't need to buy the normal apparel and supplies and other things that normally go with a new school season that's pretty small compared to what's happening at the school budget level schools across the country are looking at budget declines of about 25%, and that is -- >> wow >> yeah, that's going to affect companies that provide lunches and janitorial services. >> retail sales, first of all. we all know a name like target is doing fine whether or not people are showing up for back to school, but there are new brands that make the pens and markers. they're talking about their reluctance of a back-to-school shopper. on a school budget front, you're talking about aramark. tell us how those stocks could suffer as a result of this >> sure, for companies like target, as you said, people will still be shopping there.

they did recently tellin' vess to -- investors the back-to-school season is soft a company like renewal, students don't need to buy as many pens and markers, so they are bracing for a hit. we have companies like aramark that's a company that has bigger contracts with some of the bigger school districts like chicago public schools, for example. they provide the school lunches. some of that just isn't going to be needed if a lot of school systems aren't opening >> let's talk about the single biggest hit to the economy, which is child care. you're talking about it potentially being a $500 billion cost over a nine-month period if the effective child care needs that schools offer, both in-school, afterschool activities and the like aren't covered. my local paper covered this front and center saying they are beside themselves and don't know what to do lisa, while there is certainly

an angle on that, i wonder what will happen if men and women drop out of the labor force in order to be caretakers >> one in five workers in the u.s. rely on the school system in order to facilitate their own participation in it is work fae parent often times it's the mother. looking to step back to be home given the lack of child care for a lot of families it's in the choice sometimes there's single parent families then there are other families spoke to who are supporting who can't afford for one parent to stay home. there's about 40% of the work force that is currently working from home or able to but that obviously means about 60% can't. >> it's a mess this is a different way of calculating what the cost is thanks very much for joining us. >> thank you for having me coming up, developers are

betting that people will want to stay close to home even after the pandemic ends. we'll take a closer look at the con secept of 15 minute cities d the opportunity th cldatou create for middle and low income earners, next. california. we were one of the first stations to pilot a fleet of electric vehicles. we're striving to deliver a package with zero emissions into the air. i feel really proud of the impact that has on the environment. we have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future.

welcome back when it comes thousands ihousin hearing the pandemic is leading to urban flight. we have seen the comeback of the 15-minute city an old idea that's getting new buzz these neighborhoods aimed to give residents access to schools, jobs, doctors, banks, pharmacy and recreation within a 1 15-minute walk or bike ride.

how quickly can you rebuild a city to fit these criteria >> thank you for having me on this afternoon i think your question, let's be honest, none of us knows where we'll be on the other side of this pandemic. i think that's pretty heavy question to address. i will say this, these are issues that we're facing today in our communities it's nothing new i think the pandemic coupled with the murder of george floyd, breonna taylor brought these issues to the forefront of how we think about our neighborhoods, particularly ones that are challenged and how do we think about investment in a much different way i think we talk about the 20-minute neighborhood concept, it's expanding this and looking at this through the lens of equity i think your question starts to address that how do we go about doing it.

we have tools but it requires a larger collection of thinking from a broader range of professionals and investors. >> do you think if you're saying manhattan that has on the of these 15 or 20 minute communities, there are cities that need focus on re-creating or revitalizing those areas or do you think the population is preexisting areas. that offer that kind of 15 to 20-minute convenience? >> i think the issue in terms of the concerns about population, loss of populations in our cities is focused on affordability. these are issues that were plaguing a will the of our major cities prior to the pandemic it's really just brought those issues to the fore front and really exacerbated those issues a will the of ways i don't think it's necessary about moving to a 20-minute, 15-minute neighborhood or 20-minute neighborhood but it's about how we taub about those other neighbors that are challenged where we can build on the assets that are there and identify the other assets that

are really needed to really make these communities stronger, vibra vibrant, more sustainable. it's about if we can accomplish that, how can we create community of choice for all. >> wa you're talking about with the experience of living in a city but you have to ride the subway for 45 minutes or get in your car and driver halfway across the state to get the right service. how do you make that on a small, more accessible scale. let me ask you what you think is happening so far people in the black community were leaving big cities in droves before the pandemic struck where are they going and where the the places this might end up flourishing as a result? >> i think in terms of where a number of black and brown people have been going and chicago has been suffering from a huge pop you -- population loss for the

last 20 years. they're going where there's opportunity. going where there's opportunity for employment and going where there's opportunity to create, have a more affordable environment for them to live chicago is not alone it speaks to policy and speaks,000 speaks how we work with the private sector think about investment in a much broader way. to understand these challenged communities but there are opportunities there. how can we think about investment in terms of creating kind of the idea of strong neighborhood, a vibrant neighborhood and creating mustn'ts of choice for all >> absolutely. >> it's been good to have you. thank you for your time. >> thank you that does it for the exchange today

thank you so much for tuning in. still ahead, a closer look at some of the bio tech names that could get a boost with covid treatments and a vaccine getting fast tracked i'll join tyler for more on that on the other siede of this quick break. traded goods. tools, cattle, grain, even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale.

♪ i keep working my way back to you, babe ♪ ♪ with a happiness that died ♪ i let it get away servicenow. the smarter way to workflow. good afternoon, every one. welcome to "power lunch. glad you could join us on this monday afternoon stocks are surging once again to a record high on a new coronavirus treatment and vaccine hopes. heightened ahead of the election we have the details for you. look at apple. you know what's going to happen here shares at an all time high above $500 a piece that's ahead o