>> today he announces a strategic partnership with seattle genetics this is fantastic on an ecology deal seattle genetics is going to go well above $10,000 industrial etf they're going to rally >> thanks, you guys. "the exchange" starts now. thank you, scott, and hi, everybody. here's what's ahead on this monday we're just 50 days away now from the biggest wild card for the markets going forward, the election we'll talk about what stocks to own for a sweep, for a split, for also a prolonged period of uncertainty. plus there's no doubt it's been a turbulent year for the airlines, but lately investors feel more bullish. names like jetblue are up 25% for the past month they're adding routes, in fact we're definitely going to talk

about that up in arms over nvidia's deal and/or kell wi oracle wins battle or does it dom chu is here with the markets. >> a bullish market today. we're still off the record highs. the dow industrial is currently just 5% below those record high levels the s&p, similar there the nasdaq 8%. we're going to put check marks next to all of these, and the nasdaq really outperforming today, up 2% during this stage one of the big drivers is m and a activity, specifically, yes, in activity. gilead buying amino medics this etf tracks that and it's up about 6% right now this particular etf from the trough to the covid pandemic to the highs we saw most recently, up over 90% during that span, and we're just about off 8% from

there. keep an eye on biotech m & a driving that action. if you're looking for positivity in today's action, look at these stocks nike, check mark, sherwin-williams, check mark norfolk southern, check mark expeditors international, check mark doing pretty well in today's market >> a pretty diverse group there as well, dom thank you, sir now 55 days stands between now and the presidential election some things hang in the balance. let's talk first covid-19. people think joe biden with his 7-point plan is better able to bring us out of the coronavirus slump. but 51% of swing voters feel trump and the republicans will do a better job. let's turn to health care,

another area with major political impact trump will continue focusing on drug pricing and target the affordable care act. another thing republicans are die metrical diametric diametrically opposed. in manufacturing, they're both strikingly similar both biden and trump want to repatriate american jobs their trade policy, though, could look different the question is which candidate would be tougher on china? the trump campaign is calling for cuts to payroll and capital gain taxes they might even extend or expand corporate gains tax while biden is proposing an increase to that rate on that very note, let's get to ylan mui in washington she has more on the tax proposals for us ylan >> reporter: kelly, president

trump wants to keep the current tax cuts in place and make them permanent, but biden says the wealthy in big businesses need to pay their fair share. for individuals that means moving the top rate back up to 39.6%, taxing capital gains as ordinary income if you make more than a million dollars, eliminating stepped-up basis and applying social security taxes to incomes over $4 billion he also wants to raise the corporate tax rate from 21% to 28%. he said last week he would start pushing for that priority on day one. he would also tack on an additional 10% offshoring surtax for people who sell overseas and bring them back into the u.s and he would put a 21% minimum tax on foreign employment. biden's tax plan would raise $3.4 trillion over a decade but that his spending plan would

cost $5.4 trillion over the decade kelly, president trump has not released a detailed tax plan, but as you mentioned, he has promised to cut taxes and increase incentives for manufacturing in america >> ylan, stay right there. let's dive a little deeper into the issues that will impact your money in the markets dan is with us from strategic partners dan, you kind of agreed to the characterization we laid out about how the candidates would affect major impacts on certain points let's start with the stock market right away. you know what, before i even ask you about that, i should ask you who does your polling have winning right now, and i know you're not using conventional polls anymore. >> we do look at conventional polls and there will be an area associated with them, but we tend to look at stock market indicators like the strategas biden-trump portfolios those give a 50% chance for

trump, 50% chancefor biden the impact on the market gifves slight edge to biden i would say biden is the favorite trump is starting to close that gap, and if that raises, this race will probably be very competitive. i think to your point, the cnbc polls shows there is a very strong correlation between the intensity of covid and the desire of swing voters it's going to be competitive if covid flares back up, i think it will be tough for the president to win in that department >> reporter: one follow-up when you said the s&p is a good predictor and right now it's giving a slight edge to biden. based on what? >> the stocks are higher in the three-month period before the election, the incumbent party has won generally, and if the s&p is lower in that three-month period, the opposition party has won. i think today that gain may have been reversed. but this has been true for every election since 1984 and it's

been true 87% of the time since 1928 it's a very good predictor, and i would also say the current dollar is a very good predictor. it's predicted seven of the last eight elections with the dollar being weaker for the incumbent party. the dollar is slightly lower for that time. >> when you even look at the odds that you say would put biden slightly ahead, are the odds of a sweep still very small? we would likely be talking about divided government >> yeah, you know, the senate right now is about 50-50 if you look at the current polling. our clients actually think the republicans are going to keep the senate, and there is a case to be getting there. a month ago, kelly, the democrats were poised to pick up six seats. they would have had a 48-53 majority on that the senate races have also tightened and the republicans have gotten their footing in

some states where they were struggling, like in montana and the georgia seats. they're still behind in maine, they're still behind in north carolina, and so it's a real struggle this split is a lot like 2000 where you had a very close presidential race and you had a very close senate where on election night we didn't know which party controlled either chamber. >> so let's go kind of sector by sector here and presume maybe what you've laid out, which is let's say there is a biden win but a republican senate. what are the names that are most vulnerable, and also, what would it do to the stock market overall based on what ylan was just telling us about his tax proposals? >> i have the say the tax p proposal that joe biden has put together are very aggressive trump's is about 10% of gdp. this is 1.5% of gdp.

if you get divided government, it's very unlikely you'll get any of those tax increases with senator mcconnell running the senate, but you get all the benefits of international trade. and i think one of the big implications of this election is that the market is reading biden as somebody who is going to move in a diplomatic way dealing with europe and dealing with china, and that's negative for the dollar, and that helps u.s. financial have more foreign source income. so you get all the benefits of that, which are a loosening financial condition, and you get none of the tax increases. that's in the short run. but in the longer run, the market really wants more fiscal policy stimulus, and in that respect, they would rather have an all democrat or all republican government, and you're just not going to get it. on july 31st, 2021, the debt ceiling needs to be raised so you see some austerity begin to price in you just asked me what sectors would do well in divided government it's unlikely we're going to

restructure the entire aca in one way or another, so managed care will do well. but defense may not do well if there is going to be austerity attached to it that still means the defense budget may have a harder time going higher >> ylan, that's an interesting point, because if an all red or all blue scenario gets you fiscal stimulus, maybe it's possible you get it under a purple scenario, too how strong do you sense the moves are kind of grassroots already building toward austerity, or aren't they? is it possible we could see both parties come together again in this hypothetical scenario for more fiscal stimulus instead of for starting to pull things back >> reporter: well, kelly, i think in the short term what you're seeing is that the debate and the stalling of the covid relief package does show that there is a limit to lawmakers' appetite for how much they're willing to spend, at least at this moment. however, i would say that in the long term, one of the things the biden campaign would argue is that even though their plan does call for increasing the corporate tax rate to 28%,

they're also still investing $1.6 trillion in infrastructure and r&d. that's something that has support from both sides of the aisle, not to make an infrastructure weak again for anyone who follows d.c. politics, but that's something that, as dan mentioned, businesses have been calling for and that's something that could increase the productive capacity of capital, of workers and could stimulate the economy, so that's a part of his platform that is not really sort of baked into a lot of the distributional tables that we talk about when we talk about taxes, but it could be an important part of fiscal stimulus going forward >> dan, finally before we go, you mentioned kind of how important the intensity of covid is in swing states, and if it continues to ebb, that could help trump with his re-election odds what would be some names that could do well under that scenario but not do poorly if the more likely outcome, as you've described it, a biden win and a republican congress, if that scenario comes to pass? >> you know what, i would argue

that the for-profits, the for-profit prisons, for-profit education, student lenders are the ones really trading on a trump win. but in addition you would start to see maybe financials catching a little bit i understand interest rates are low here there is a very strong correlation between financial stocks and trump's probability of winning you can also see defense maybe get a pretty big rise here if it looks like trump is going to win, given his support for the defense budget so there is a clear set of winners that can come out of that, and given that the market is priced in some of this biden victory already, that would lead to a significant upside, very much like 2016 did when trump surprisingly won >> fascinating there's so much more here to go through, but i guess there's still time to do that if you'll come back. >> absolutely. >> dan clifton, thank you so much ylan mui, appreciate it as well. coming up, demand for travel continuing to be weak right now. jetblue is adding routes to try

to draw in travelers we're going to speak exclusively with the ceo about this news, about industry furloughs and much more in just a moment from goldman sachs to jp morgan to oppenheimer, they are saying positive things despite the selloffs we'll look at whether they're right. it's going to be a month of unconventional ipos. we'll explain, coming up on "the exchange". when the world gets complicated, a lot goes through your mind. with fidelity wealth management, your dedicated adviser can give you straightforward advice and tailored recommendations. that's the clarity you get with fidelity wealth management.

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welcome back it's been an awful year for the airline industry, and despite low demand from consumers right now, jetblue is announcing today that it will add new roots in an effort to track travelers. jetblue has seen some wall street up lately of 22% in the past months. our own phil lebeau is joined by the ceo of jetblue, robin hayes. phil >> thank you, kelly. robin, thank you for joining me from your headquarters in new york you announced you are adding 22 routes to florida, the ka rib y -- caribbean, latin america tell us how you've been doing the last few months.

>> good morning, everyone. as i said before, we're very focused on the domestic market the international flying we have is very close to home. we're very leisure focused, so we continue to see opportunities as we start to see a little recovery here. we are still in very challenging times, but we have seen over the last few weeks some small improvements in demand i really think our focus in the domestic market, our nimbleness, means we're able to act quickly to take advantage of those our number one pride in the moment remains with cash burn. we are well positioned to take advantage of bringing down our cash burn. >> robin, where is your cash burn right now >> we guided cash burn for the third quarter between 7 to $9 million a day. >> and you're generally in that area i know you have earnings coming up, and there is a protocol for this, but nothing out of the

ordinary you're basically hitting what you expected >> yeah. i mean, we're doing very well on the cost side, and we've had a few good weeks on revenue. but as you know, phil, it's very volatile we saw improvements earlier in the summer it went down again as the case counts increased we see the revenue performance very correlated to what we're seeing in the country with case counts so it's very hard to look at more than a couple of weeks ahead at the moment. >> robin, earlier this summer, you guys agreed to the terms of a treasury loan for $1.4 billion. but like other airlines, you guys said, look, we'll agree to these terms, but we haven't finalized whether or not we're going to take out that loan. the decision is by the end of this month for you and for other airlines, have you decided whether or not you're going to take out that treasury loan, or are you going to forgo that loan >> we've been very active raising money in the private markets, phil. we still have options to do that as you say, we'll make a

decision on the government loan by the end of september. >> there is at least one analyst out there who believes that you're going to see an industry recovery by the end of next year, pre-pandemic levels. others are saying, wait a second, that's way too optimistic what do you see when you look out, let's say, 12 to 18 months? >> well, i do believe that there is a lot of pent-up demand for leisure travel there is a lot of people who want to go and see friends and family you know, i want to get over to the u.k. to see some of my family i haven't been able to do that we know that demand is there we think that has the possibility to come back as early as 2021. you know, really linked to people's comfort around flying i think a vaccine will help us tremendously i think what's uncertain and what might take longer to come back is the business travel. because i think some forms of business travel may be gone for a lot longer than just a year or so we've gotten used to this video

conferencing that we've been using. sometimes it works, sometimes it doesn't, but i think people are going to be more thoughtful, companies are going to be more thoughtful about spending on business travel. that's what could take longer to recover. >> robin, it's kelly i appreciate you joining us, and i just wanted to ask about these flights you're adding to florida and the caribbean. where are you seeing travel pick up most now, and what are the places you might leave behind for good after the pandemic? >> again, i don't know if we're ready to answer the question what we make if we get behind for good what we do know is about 15 to 20% of flying with jetblue is business travel, and we think that will take a lot longer to come back. we've seen some international markets, places like cancun, aruba, montego bay develop very good protocols for testing, for sort of creating a welcoming experience for people while keeping it safe from a public

health perspective we're seeing very good demand there. we're seeing a pretty healthy demand to places like the dominican republic and puerto rico where we're seeing the demand, we're apt to fly there another thing we do at jetblue if a few days out we have individual flights that aren't covering the cost of cash, we'll combine that with other flights that day so we can get people where they want to go, but we also make sure we can focus on continuing to execute the importance of preserving our cash >> robin, an uptick of business is expected to happen at thanksgiving, christmas and new year's but we hear a number of people saying, wait a second, we think covid-19 will have a resurgence as the weather gets cold are you worried that covid-19 may really kill holiday traffic for you guys and the other airlines >> again, i think there is pent-up demand there, but we also know from experience that if case counts start to go up again, that will have a

deterrent effect on travel i think that's why as an industry, we think that the cares act extension is very important, because that really -- if we start to see things heading the wrong direction again is going to put an industry that's already under a severe amount of pressure under greater pressure i think it's going to sort of bring back the spectra of furloughs on top of what's already been announced, and we all want to avoid that the right thing to do at the moment is protect jobs and let's get through the winter and be here as an industry on the other side of that >> mr. hayes, if i could just sneak in one more question a bit of local concern, you could call it, i guess you guys have a beautiful terminal 5 out there at jfk and you are one of the signatories concerned about the safety of new york city and the quality of life issues, a letter you recently sent to mayor de blasio are you concerned that this city is not as vibrant as it should be and it could take quite some

time for a return and maybe a change of leadership or a change of policies? what would it take to assuage your concerns? >> yeah. i mean, we are based right here in new york city we are so proud of being new york's hometown airline. and we've had people coming to work through this pandemic, and our crew members in the building here in long island in our city operations center, they've had to come to work throughout all our ground crews, air crews, our pilots in flight, they've had to come to work. i feel a great sense of responsibility to make getting to work as safe as i can for our crew members where we have our internal town meetings, safety is a number one issue -- i would say many of our people's minds, it's become more important than covid itself. it's really important as a

community in new york, as a team, we give people a sense of comfort that new york is coming back, that restaurants are opening, that the subways are safe i come to work on the train and the subway i feel safe, but the subway is such an important part of new york's infrastructure. we want to make sure that our people feel safe coming to work. >> so are you saying your people feel more -- their concern about their safety riding the bus or subway to work is now a bigger concern than the coronavirus >> i would say in new york, when we do our internal discussions about what will it take to get people to come back to work, the safety of getting to and from work is top of people's mind >> again, i appreciate you elaborating on that point. obviously a big concern around here robin hayes and phil lebeau, thank you both so very much for joining us today >> thank you >> robin hayes is the ceo of jetblue airlines still ahead, nvidia calls

the arm a game-changing deal in the video game sector. consumers love it and the shares are up 40% plus the clock has run out bytedance is choosing oracle as its partner, but it's not a buyout as the president waednt so what's really going on here we'll explore this structure ahead on "the exchange." that's what my dad does.

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welcome back to "the exchange." let's give you a check on the markets. it's a rally day on the dow of 120 points a 1.1% gain in the s&p and the nasdaq is stronger than that the s&p is up 30 points. the nasdaq is up a little bit. as you can see, every sector behind me is in the green.

interestingly enough, our leadership is very differently today. real estate is up 2.2%, financials, 1.97%. at the bottom of the board, consumer discretionary and communication services taking take bit of a breather nvidia agreed to buy more shares today. it is up 400%. josh lipton is here with some details on this deal josh >> kelly, ilts the biggest chip deal ever. nvidia buying softbank's arm for $21 billion. nvidia best known right now as the world's largest graphic chip maker, but nvidia becomes a player in the bigger cpu market, too. that's the primary brain in most computing devices. arms technology is everywhere,

under pinning all sorts of products from smartphones to tablets to pcs there is one potential risk in this deal, though. many arms customers will be up in arms, unhappy that another chip company is buying this asset, and what bregulatory approval ceo jensen huang sounding confident on cnbc. >> this transaction, because of two of them are dplimtcomplemen, it's not two different companies buying each other. it's nothing like that >> now, working in nvidia's favor here, these are two different business models and nvidia makes chips on licenses kelly, back to you >> those videos up 4%. they've nearly doubled this year earlier that month,

secretary of state mike pompeo said they were looking to ban the tiktok app president trump said he would ban tiktok in the u.s. before changing his tune saying he would allow an american company to buy it. that became a flurry of activity microsoft, as well as oracle we have a winner, but don't call it a buyout or takeover. julia boorstin is here with us julia? >> oracle is chosen to be tiktok's technology partner. that's the word that is used he said his proposal for tiktok was received over the weekend, and the administration will review it this week and have technical discussions with oracle ahead of the september 20th deadline. now, this is not the sale of tikt tiktok's u.s. assets, but rather oracle would be taking a significant minority stake in tiktok and become tiktok's cloud

provider oracle would take responsibility for data, privacy and security issues as part of a restructuring that bytedance had actually been pursuing to comply with cfius in the united states, and they've been working on that for months now oracle is tied to the trump administration cfius donated $121 million to the trump campaign this year with things still fluid on this deal, there could be other players participating. while mark tells us it continues to have an interest in a tiktok investment and is continuing discussions with bytedance so, guys, certainly a lot to watch and we'll see how things firm up in the next few days kelly? >> julia, thank you, and stay right there. let's also bring in joanna stern. she is at the "wall street journal" and a cnbc contributor.

joanna, it's good to have you. may main source of confusion is about the structure of this. so oracle is more than a partner? they have a minority stake presumably they will benefit financially. i don't know how or whether this will solve all the questions around tiktok's algorithms do we know those details yet >> we don't know those details yet. i keep thinking of oracle as a babysitter here. this is the u.s. babysitter for bytedance. i think all of this will come down to the housing of data, the security of data and privacy how can oracle use its infrastructure in the u.s., its infrastructure in a u.s.-based company to make sure our american user data is safer than what we had all sort of feared that it would be in the hands of a chinese company. >> i like the babysitter analogy, but again, you could also argue, well, a babysitter doesn't do much. you make sure the kids are alive, but on top of that -- >> it depends on the age of the kid. >> exactly

the parents are still the parents. so here is a line from derek s kri cissors at aei he said, let's make sure we focus on tiktok's importance with americans that hasn't really been addressed. now oracle is kind of just the babysitter again, i don't want to downplay. from china's point of view this may be way too heavy handed, but have those and are those concerns really being addressed here >> i think the biggest question and the biggest question throughout this whole thing has been around the algorithm. the "a" word is the biggest deal, i think, here. yes, where our data lives is extremely important. but that algorithm, which seems to be tiktok's secret sauce to getting us to stay on that app for so many hours. i've written about this, this app is one of the most addictive

things i've ever had on my phone, it's all with that algorithm behind it. if that's not in the hands of a u.s. company and still in the hands of bytedance, there are still a lot of big question marks around that. >> julia >> i think it's really interesting, though, that what we're talking about right now, the idea of a restructuring, having a u.s. company be responsible for the data, the data meaning the data on u.s. consumers which is what they did not want to have exported back to china, everything we're talking about there is very similar to what was first pursued when there was cfius concerns there were cfius concerns, they started talking about a restructuring. the president got involved and it escalated it became in the headlines and every newspaper. now we went from conversations about a full-blown sale of the company to now this idea that it's a minority steak. i think we're sort of going back to where we were earlier this year before the president got involved and the big difference being there would be a u.s.

company, in fact, a u.s. company with ties to the president oracle would be the one managing that data, ensuring that it's not exported back to china so i think it's just interesting to note the cycle here the other thing i would poin out is this still isn't done yet and we could see walmart come in and see them also be one of the other players that could own a piece of this company. >> i guess my final question for now, joanna, with that being said, this is not the end of the story yet. but under this arrangement, who is the authority that gets to decide if there is a dispute between oracle and tiktok u.s. between an algorithm practice, data collection practice, if oracle is a partner, it doesn't sound like they would have the last say. are they referring this matter to the u.s. government are they negotiating with bytedance in china i want to know who calls the shots. >> i don't think we have the answers to those questions yet, and i think that's really illustrative of what this messy

u.s.-china partnership or division of walls is going to be for the next number of years ahead. where are the things that are in our control and where are the things that are in theirs, and especially as these companies create new types of deals, what does that mean for the end product? >> right right. absolutely thank you both, appreciate it for now. joanna stern and julia boorstin. >> that's my sister's name >> give her our best let's get to sue herrera for an update hi, sue. >> here's what's happening at this hour. as president trump heads to california to review the damage from enormous wildfires raging along the west coast, take a look at this this is dramatic time lapse video, so when clouds of smoke rolling across a lake in the state as a fire spreads across that area, at least 35 are dead and thousands of homes have been destroyed so far in the west a new rule of six is going into effect in the u.k. today as

covid cases turn higher. social gatherings of more than six people are now banned. the new regulation replaces a more complicated collection of rules that many found confusing. and scientists have discovered a chemical, phosphene, in the atmosphere of venus and they think it could only come and be produced by something that is alive. the search for potential mi kroeb -- microbes will now intensify. >> i could have done something about venus there, but not anymore. >> not anymore, no >> thank you, sue. see you next hour. we've seen this month in stocks be purely technical is there more at work here we'll explore that and tell you what the latest thinking is. with a slew of ipos this month comes a flurry of

experimentation and new approaches for 2020. we'll look at why september is the month for unconventional ip we're back in two.

welcome back the nasdaq dropping more than 5% in the past two weeks as momentum stocks have led the pullback while the move is in the form of earnings cuts, could there be more pain ahead? mike santoli is here mike >> it comes down to when the stimulus given back in august will need to be paid back. when market prices get too far

away from an underlying trend, it's a course correction back toward the direction of the longer term trend. some of the hallmarkof correcti are here. some of the strongest stocks in august, the teslas and docusigns, and the discretionary have held up better. that implies that this decline is not about new fear of the path of the economy or the fate of the recovery, it really seems to be mostly a technical sentiment for adjustment how far can it go? we can obviously continue to go down from here if, in fact, it's deemed that they are not really ready buyers at prices that are only three weeks old i think that's the other thing to consider. nasdaq down about 11% high to low. it only brought it back a few weeks. apple was at these prices august 11th even after going down 20% from the highs >> mike, you know as well as anyone, as the barrons guy,

don't you think the end of the pullback will be marked by soul searching of what's happened in retail investing this year and big front page headline stories about the money people lost? doesn't it seem like we need a moment more ka thacathartic lik first? >> you would really need to see some underpinnings in the market, but not all development becomes real flush at the lows or have to be undersold at the rebound. that would be the setup, because it seems to me, so far, anyway, a lot of people are satisfied to see the high flyers come in a little bit, they thought they were smart, they thought things were done to the upside. if you need a comeuppance, maybe that's what's required, i'm just not convinced that's what you always get in these episodes >> that's fair enough. it's usually one of the bigger ones thank you, mike santoli.

the street is becoming more bullish. goldman says it remains optimistic about the path of u.s. equities over the next few months oppenheimer says any expectations to beat down tech stocks is overexaggerated. and the bulls are certainly back today. but can they keep charging until election day for more, let's bring in ally mccartney and jamie cox at harris financial group jamie, i saw you chuckling there. what's going across your mind as we rattle off these market calls? >> kelly, i think we're in a situation where we've talked about growth as defensive plays, we talked about growth in all these dirchts wafferent ways, ae talked about growth versus value. what plagues all this is there is a digital divide that has broken in these stocks any company that has a digital presence or has something that makes them a little more

attractive on the digital side, they're doing quite well and i think it is other thithe e have to watch with these growth stocks is we paid so much attention to the larger ones that we forgot about the smaller companies. there is so much going on in immunotherapeutics that are not tech stocks that we need to be focusing more than on just the teslas of the world, the apples of the world if investors really want to make money in tech, they need to look below the service and see some of these companies which may be headquartered around the world that's where the action is going forward, and i feel like if we look at big themes during this covid kroi covid crisis, you'll look back and say, look at the trends in global health, look at the trends in pharmaceuticals, and you'll say that was the way in this pandemic. >> so there is a digital divide

for a reason and you want to be on the right side of it. if you have those valuation concerns and so forth, you need to kind of keep that longer term story in mind. where do you come down do you think this market is still too overextended >> i think that jamie's comments were spot on, and they demonstrate the divide that has existed in the tale of two cities, and the fact is there have been some companies doing extraordinarily well and some, you know, struggling on a day-to-day basis i think mike's points were also right on, saying that as the former head of a derivatives desk, the amount of premium and how offsides these decks were that exacerbated a selldown just as we sawexaspiration on the

way up midcaps are starting to go back up as we take these risks on the the two that will drive this market up is confidence, and i think kfrs confidence is largeld to some of the news we got on the vaccine front, and a second is a pickup in long-term rates, and i think the fed is going to help us a little bit with that in terms of what it's going to do with vaccine purchases on wednesday. yeah, you can own a little apple, you can buy a little tesla, but i think you really have to think, as everybody has been saying today, not about what the technical implications of the premiums spent in the last few weeks or months are, but what does the mid or

long-term market look like the fed has given us no alternative to investing in risk assets the markets are telling us there is no expectation of rates above zero until 2025. >> yep, yep, yep, we gotta go. thank you both, alli mccartney, jamie fox, for your thoughts on this market today. coming up, with market caps basically on hold due to covid, people are cautious about putting on shows the index of 417 at the highs today, only three names are in the red right now the leadership includes amex, united health, visa and boeing we're back in two. when i was in high school, this was the theater i came to quite often. the support we've had over the last few months has been amazing. it's not just a work environment. everyone here is family. if you are ready to open your heart and your home, check us out. we thought for sure that we were done. and this town said: not today.

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for transformation that works, you need hewlett packard enterprise and it orchestration by cdw. people who get it. a lot goes through your mind. how long will this last? am i prepared for this? are we prepared for this? with fidelity wealth management, your dedicated adviser can give you straightforward advice and tailored recommendations, with access to tax-smart investment strategies designed to help you keep more of what you've earned so you'll know you're doing what you can for your family and your future. that's the clarity you get with fidelity wealth management. welcome back in small towns and big cities, coronavirus has closed down concerts and the way september 11 has changed air travel and security, this pandemic may forever change the way we attend live events.

our contessa brewer is here to explain. >> reporter: when concerts resume, they may be less shoulder to shoulder and more bumper to bumper >> we're seeing various forms of social distance iing reduced lot of markets we'll continue to do that over the course of this year. >> live nation produces some of the biggest concerts in the world. it handles much of the entertain for caesars which first hosted an outdoor concert las vegas and its economy depends on larng crowds indoors and it's trying to unveil a new stadium. nevada's coronavirus task force is working hard figuring out how a concert or sporting ve ining could take place safely. >> we have to make a digital vaccine before we have the actual vaccine what i mean is to have series of

digital layers of protection. >> reporter: clear uses biometr biometric scanners and is offering screening to assess health as well we may all start carrying a kind of health passport that declaedo or have been vaccinated. perhaps it will be up hoeded to ticket master. wearables like rings or brake l -- bracelets can monitor your health and dij tap contact tracing apps can alert other concert goers near you. extra steps to ensure safety for those who live for live music. >> i think people like the energy, the feeling, the connection of being together in a full building for their favorite artist. i don't think anything replaces

that >> clearly there's a yearning here 86% of customers chose to hang onto their tickets waiting for the show to go on. >> i love garth brooks would i go through all that trouble now to see him i guess so but man, it just makes what was already becoming a very time -- an event that takes a lot of time, money, hassle, even that much more of an effort. >> think about how las vegas economy depends on getting the large crowds together. if they can figure it out for concer concerts, they can figure it out for conventions too. >> right, which is vital thank you very much. still ahead, september doesn't mean the start of fall it brings a slew of ipos and this time with an experimental

twist. we'll look at what invetsstors need to know the exchange is back in a couple of

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welcome back we have some breaking news out of washington. >> the department of homeland security announced that customs agents returning products in china in five different categories that are sourced from forced labor where the muslim

minority in china has been housed for several years the products fall into categories like text extitextils they did say this is a continuation of the administration strategy to crackdown on the practice of what they are calling chinese regimes holding these people in concentration camps. they said it's difficult to pinpoint the dollar figure because these products are going through other countries and then arriving in the united states. they did acknowledge they narrowed focus of these orders to the specific products to a region wild effort because they wanted toyota be legally unsailable but they did expect more to come >> called out leaders in these parts of the chinese country thanks them for filming in that

region and accommodating them to wonder why they should be able to do business there if saying other parts of the is up supply chain can't. >> purposefully or inadd ver sently over the last two years this effort has been going on i asked about how easy it would be for some of these companies to source replacements elsewhere in the supply shane. dhs did not have an answer for that that's an even bigger spotlight on that region >> plenty of folks are asking when you start using this rhetoric if participate ng the winter beijing olympics in 2022 is something that makes sense. we'll save that for next time. >> that does it for us, coming up, atlanta falcons owner joins

us we'll talk to him about his new book, nfl kick off join tyler mathison looking for this after this short break. i had saved up some money and then found the home of my dreams. but my home of my dreams needed some work sofi was the first lender that even offered a personal loan. i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. and i get to live in this beautiful house with this beautiful kitchen and it's all thanks to sofi. good morning, mr. sun. good morning, blair. [ chuckles ] whoo. i'm gonna grow big and strong.

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welcome to "power lunch. kelly is right over there. you'll see her in a moment stocks are soaring to kick off this new week. the nasdaq leading the charge after its worst week since march. it's still down about 9% from its record highs two dow stocks hitting new highs and they are not tech stocks look there nike, mcdonald's mcdonald's is its highest level in a