good afternoon and welcome to "power lunch. i'm kely evans on this friday ahead of what's expected to be a very busy holiday weekend america is reopened and we have got it all covered why travel is back more than 2 million americans are expected to fly this weekend. we'll speak to the former spirit airlines ceo new york city restaurants are back after a tough year and a slow reopen. all the sights, sounds and dining plus the stands are filling back up big time for the indy 500 this

weekend and expecting 135,000 fans at the track. "power lunch" starts right now >> good afternoon, everybody welcome. i'm tyler matheson we begin with the markets on the last trading day of may. what a month it's been the dow and s&p are poised to end it in the green with the nasdaq down about 1. 2%. small gains for the other ones why with volatility may shined a spotlight on the market and some assets that many experienced obs observers say could be out of whack. yesterday amc traded 1.5 times its total number of outstanding shares and then you got the crypto

collapse bitcoin 60,000 before 32,000 off 35% back up a little bit since then median home prices fresh record high. material costs are up strongly 12%. lumber among them. inflation picked up. consumer prices largest annual gains since 1992 the fed balance sheet at a record of nearly $1 trillion and moving up fast and a red flag on the massive rise of thematic investing. bob pisani has more on that angle. bob? >> hello good to see you. everybody loves thematic tech investing. all exploding in popularity but watch out. morningstar warns the majority do not outperform the markets. they have high fees and high failure rates and run the risk

of too much concentration. while it did well in 2020 the record is poorer over longer periods. morningstar found 30% over 10 years of these funds closed. only 36% outperformed the market this is a 10-year bull market. why the underperformance by its nature it is prone to investors chasing hot themes they also have very high fees that eat into the returns investors get. you can invest right now in an s&p 500 icndex fund for almost nothing and a small number of actively traded funds have fees and ark innovation fund is concentrated ownership means that the stock prices may be subject to the whims of

investors. you see the list here. positions of almost 20% for cathie wood's funds. back to you. >> you can make the bets and make them right but hard to repeat that time after time. you make a strong argument we know. for the value of index funds whether it's an s&p 500 or a total market index fund at low cost sometimes average is best. thanks. so do these things tell us about the state of the market? let's dive deeper with ron insani and mark lacheny. hail to the chief! mark, we are seeing a lot of signs episodic, anecdotally of

frothiness cryptocurrencies going up. lots of movement in and out of stocks are you concerned that stocks are ahead of themselves? >> i think it's a valid point. you mentioned the things that are indicative of what you would see in periods of time in which the market is frosty, speculative. bringing in fringe players to take advantage of the last mile. these are the things that you see closer to market tops. having said that i also think there's some merit in the areas that you mentioned thematic investing is a poster child but taking a healthy view to utilize the stocks with the broader index funds to service the core and then the satellite

recognizing that potential volatility and treating them like capital investment and i think they're circular tail winds to lead to results if you don't get shaken out due to the volatility with them because of the narrowness of the way in which they're really by design forced to invest. >> mark, i have to say -- no one should listen to me for investment advice but you and ron but i agree with you i'll get ron's reaction to this. if you use an index fund as the core and then satellite exposure with other moneys that's a good way to go. ron, let's talk about margin there are signs that margin is up pros use margin but amateurs use margin it can bite you. >> yeah.

i have always been opposed to individuals making that gamble, whether options and future contracts or individual stocks and the margin vary. look this is a perfect environment in which the market broadly speaking is up the meme stocks are on a tear. this is the best time in the world to eliminate the margin debt if you play that game and put that strategy away and enjoy and lock in the profits. we balance the portfolio do the pruning that makes sense if you 're up a lot we have shared memory of not just the internet era but before this can go on and everybody will look right until they're wrong and the period they're wrong is when the fed changesest from sbrat policy and then the day comes and i'd be cleaning up the portfolio rather than trying to try to play the hero or being

an ape or whatever they call themselves it is still a bit crazy. >> yeah. mark, let's turn to the basic premise. if you're using an index fund as a core, basically the sun. satellites are planets i assume you like technology who could have a portfolio that doesn't have some technology in it that's the future of the global economy but also you must like industrials and financials and cyclicals that are responding to a really hot economy right now >> i agree with you. in response to the who could not like technology you would be making a huge bet against the stock market at large if you didn't own technology. it is 27% in terms of weighting within the 13500 some of the sub sets of the technology sector have massive

tailwinds around software as a service, around the internet of everything so when you think about it if one has a lot of time you can weather the isolations and recognize tech overall is certainly an important component of the lifetimes. having said that i think on a more tactical basis you can augment that core with broad but nonetheless specific sectors outside of technology and the classics financials, industrials, materials and energy that i think are poised to benefit from this economic sensitivity they show by way of the enormous amount of economic growth and then will moderate this year it will persist well beyond this year. >> so let me turn back to you, ron. it is a very interesting topic and so much of our time on cnbc we spend talking about what to

buy, what to buy, buy this we don't often or as much talk about what to sell you just said that if you have profits now might be a good time for some judicious rebalancing and trimming what should i look for to sell >> if you play that game of the day trading game and as i look on the wall street bet reddit and showing gains of 550% you trim back to cost and you put that money away and look for opportunities. i also think with respect to the core and satellite philosophy if you're accredited investor or qualified purchaser, i might get out of some of those iffier more liquid and speck lattive vehicles and look at venture capital. private equity

hedge funds because that's how you actually construct a real hub and spoke or core and satellite type portfolio if you're in that camp. only there are in common and net worth limits but there are good opportunities there that i think make a lot of sense for individual investors that qualify and you can build a different type of portfolio without getting into these etfs and vehicling that can have massive draw downs on a daily basis. you will be paid over time on your return on equity. >> interesting ron, thank you have a great long weekend to you, ron and mark. we appreciate your time. kelly? we have breaking news on president biden's budget and taxes. robert >> reporter: some really important news here, especially for investors because that relates to the capital gains tax and of course the timing of that biden has proposed increasing

that tax from 23.8% to 43.8% the big question is when the administration proposing it would be retroactive to april 28 so if you hoped to sell something, stocks, a home, a business in advance of that increase to avoid the increase that maybe would have started next year you are out of luck if you sold any time after april 28 or plan to this of course would raise a lot of revenue, they estimate $330 billion when you combine it with step up and gave some pretty startling increases for what the corporate taxes would raise. if you look at the top rate for comp rations going from 21% to 28% combining that with what they would impose on overseas income that would raise $2 trillion so again we are talking about a $2 trillion increase on what companies pay in taxes.

on the individual side when you combine the top rate going back up to 39.6% as well as the capital gains changes they're talking about $300 billion over 10 years so a lot of numbers but the important thing for investors is biden is proposing to make this capital gains increase retroactive to april 28th and did that they said because that i remember in 1986 when reagan increased capital gains and had a huge selling and they had big revenue before the tax increase took effect and then that revenue cut in half for the following year this administration clearly hoping to avoid that by starting it on april 28. >> just to follow up on that this is still -- it is a blueprint. i think it's stronger than a wish right? but for investors saying we are

in the negotiation phase, this is what they want to do but it is not done, so where does that leave investors if they try to figure out is there a window or is it definitely retroactive >> it's a great point. look it is -- it's got to get through congress, the timing and the rate, big asks on the part of the white house so this could have a big fight in congress but the point is this is a risk. as it comes to investors and i don't know whether that risk is 5% or 60% but we have to bake that in as a risk that this capital gains increase is retroactive to april 28. >> yep all right. thank you very much. coming up, the skies are more crowded with high travel at the highest level since the beginning of the pandemic. is it sustainable into the fall? the airline stocks are in the red. a look at the biggest dow se othmoh

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which shows will you be getting into tonight? how 'bout all of them. netflix. 'cause xfinity gets you really into your shows. when one burns for someone who does not feel the same. daphne, let's switch. from live tv to sports on the go. felix at the finish! you can even watch your dvr from anywhere. okay, that's just showing off. you get all of this on x1. so go on, get really into your shows. you need a breath mint. xfinity. it's a way better way to watch. welcome back to "power lunch. it is another volatile day in the cryptocurrency market with bitcoin, lightcoin and dogecoin in the red the drop is sharp and severe bitcoin down more than 40% from the highs of 64,800 and not

given coinbase a particularly pleasant introduction to the public markets shares of bitcoin exchange down more than 25% from the debut price in mid-april coinbase, crypto back to you. >> thank you. this holiday weekend could be the raebl test to see if america is truly reopened. more than 2 million people are expected to travel by air, a jump of more than 500% from last year still about 750,000 fewer people are traveling compared to 2019 and the airline stocks soars this year. we're talking about nice gains for most in range of 18% of delta and 35% for american former president and ceo of spirit airlines is here to talk through what we should expect this year. at what point does the euphoria wear off and that there's no

consolidation and that kind of a hangover sort to speak >> that's a great question the first order of business is to get travelers back so i'm sure airlines are happy about the real push in bookings. there's been a sense that there's pent up demand seeing that in real bookings with customers buying tickets is very encouraging so yes. every airline will have to address the fact that their debt ratios increased, had to raise liquidity to stay solvent in the la year but one great thing about airlines is when times are good and people are buying tickets they're really good cash generators are most airlines will be able to start paying down that debt quickly once travel returns. >> what's going on with fares? >> fares are almost always a function of capacity meaning when there are more seats than passengers fares go

down when there are more passengers than seats fares go up there's a question of whether fares will be higher or lower this summer in that airlines putt out the seats in the summer compared to 2019 sometimes 100%. that's seats that need to be filled airlines use attractive pricing to try to fill the seats if they find that the -- even with the capacity the seats are filling then they'll take the price increases but i don't think we'll see that at the beginning of the summer and only at the end of the summer if the first part is really chock a block full. >> what happens beyond that? what point do we get back to the trajectory of pre-pandemic and where does it permanently change >> what we are missing in this conversation is talking act

great summer bookings but that's all leisure travel families going on vacation people going golfing things like that what really drives a lot of the industry revenue especially for the big airlines in the u.s. is corporate business travel and we won't see that until the fall. that's a time of typically trade shows and conventions at that time a lot of companies send the sales people out to do a push toward end of the year before thanksgiving and end of year holidays we'll see this fall whether business travel comes back and the reason that's critical is the industry has to carry four leisure pleasures for every one business travelers so if the business travel doesn't come back there's structural change, especially among the big three carriers in the u.s. that would be necessary. >> what i want to ask you is

what happens if comp rate travel returns? there's pent-up demand for the people so burned out by travel, i think they're ready to get back out there >> i hope you're right if that happens the airlines will have the seats for them and welcome them back but maybe higher priced, too they'll try to keep them excited. >> yeah. fair enough. that's only if it's stronger than expected. i take the point that it might be changing for good have a great weekend. >> thank you >> the former spirit airlines ceo. tyler? >> all right. with restaurants in new york neely back to normal it could be a busy summer. an owner says that business is roaring back the owner of melba's in harlem plus it was a volatile month

for stocks between rising inflation, shortages, bubble fears. which stokes could be in for a comeback next month? that's when "power lunch" comes back

100 years ago a community was attacked a mob of armed rioters with torches and private airplanes to destroy 35 square blocks of tulsa, oklahoma, known as black wall street. the residents murdered the race massacre is one of the worst of rarnl violence in the nation's history it is the subject of a new documentary called "blood on black wall street. here's bertha coombs with a preview. ♪ >> reporter: 1921. tulsa, oklahoma. the greenwood section of town nicknamed black wall street. >> these were mom and pop type operations beauty salons. pharmacies >> reporter: but racial tensions turned deadly in this segregated city when an armed white mob

backed by law enforcement descended on the thriving black business district with every intent of destroying it, killing anyone that got in their way >> in less than 24 hours, that mob turned 35 square blocks of unparalleled black economic prosperity into smoldering ashes. >> we saw coming up the walk four men with torches in their hands. when my mother saw them coming, she said, you get up under the bed. get up under the bed they set our house on fire and went to the curtains and set them on fire >> reporter: unfathomable damage 10,000 left homeless in 2001 the ong ok commission estimated between 100 and 300 people killed. a century later, generations of families still haunted by the

physical and financial toll the massacre left behind >> you can tune in to cnbc on sunday at 2:00 p.m. or stream it on peacock beginning on sunday tyler? >> unimaginable this happened there. i heard a piece on npr this morning saying that they don't teach about it in the school systems in that part of the country. realitily worth watching this sunday president biden said the fight is paying off. >> because more americans get vaccinated the days grow brighter and brighter. let me be clear. we are not done yet. we have to reach those who are not vaccinated and make it as easy as possible to get protected. and the department of homeland security is saying

again that there won't be any federal mandate for a vaccination credential this morning the dhs secretary said that the u.s. is looking closely at the possibility of vaccine passports for international travel as the spokesperson said that he was talking about making it easier for many earns to prove they have been vaccinated if that's a requirement that other countries have. european regulators recommend children 12 to 15 get the pfizer biontech vaccine. it will be up to regulators in each country to decide whether to proceed. johnson & johnson's vaccine is the fourth shot approved fir use in the uk. the government added 20 million doses to the original order for 30 million back to you. >> thank you. we'll look at the great reopening. new york city restaurants in apparently for a big summer but fewer workers and higher prices

could chill that a bit another big sport is back. the indy 500 this sunday massive live crowd we'll talk to the ceo of penske entertainment when "power lunch" returns. hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones.

welcome back let's check the markets. the dow hanging on to gains of a third of 1% but off the session highs. similar gains for the s&p 500. the nasdaq outperformer by a hair and the small caps are negative oil is closing up for the day. let's get a check on prices. we have all seen the impacts at the gas station. crude around $66 a barrel. over to the bond market now where rick santelli tracking the action on what could have been a big day and not much movement is there. >> you know what there's a lot of logistics that happen at the end of a month and that's what happened you're right today looking at the personal expenditure core that's a 29-year high and year over year. depressed levels a year ago.

look at the monthly headline up that's the highest since 2008. one year michigan at 4.6 look at the chart for 24 hours basically 8:30 eastern the market then bought off and pushed rates down. month end extensions many are index and the rebalancing process bringing in the buying look at a month to date of bunds. and you can argue the bupds did more aggressively and the dollar index to have a positive day dripped away the gains looks to be on pace for closing down 1.3% for the month. back to you. >> all right thank you. starting monday new york will lift the curfew on indoor dining one of the last restrictions in the big apple and got people

asking, is new york city back? our next guest thinks yes. the restaurants seen seeing renovations surge but having a hard time finding employees and keeping costs down joining us is melba wilson president of the new york city hospitality alliance what a difference a year makes, right? >> who would have thought 15 months later this is where we would be this is some of the most thrilling times in our industry and definitely in our country. however, new york city just launched an amazing shop your city campaign and we are on the way back. >> let's talk about what you're seeing at melba's restaurant compare last night's crowd to one year ago and to two years ago. >> let's start with two years ago. twoyears ago business was

booming. it's the holiday time. tourists are coming in by the millions into our city and the dollars are circumstance latting within the communities. new york city was booming. new york city was hot. last year this time we're looking at two moths after the city closed. we were only doing takeout we went from melba's 39 full-time employees to only having between 9 and 11 employees. business was hurting we do not know if we would make it through the pandemic. however now knowing that new york city will be open all the way and we have a huge campaign going on about shopping the city, i can finally see the light at the end of the tunnel however i have a very difficult time as is every other business owners in the city getting employees. >> let's talk about why you think that is.

>> when you look at a city like new york i think there are a couple reasons a couple reasons are because unemployment benefits. a lot of people are waiting until the unemployment benefits run out before they come back so business owners like myself are really having a hard time employing people i had a restaurant that was slated to open march 2020. it has not been able to open it's not able to open because we simply cannot find the staff so we need an influx of people to come back into the city so that we can really sing late and revitalize the economic development. >> interesting tourists are back. workers are not. let's talk about suppliers and rising costs and how and whether suppliers, vendors to you are working with you to try to

mitigate price increases talk about how you see the supply, transportation costsgo up and whether you're passing that on in higher menu prices. >> having been in business almost 18 years i have never anything like that the vendors are my friends and talk on an ongoing basis not only is my business suffering but the vendors having a hard time getting the goods into the country. oil is up. transportation is up they're passing the costs on to us we however decided that our guests have had a very, very rough year and important for us even though the margins are slim to none between 4 to 14% if you're lucky and we're not passing that on to the guests and feel that people are waiting for an opportunity to come back up, hungry to get back out into the community to support small

businesses and we want to make it as comfortable as we can. however i don't know that sometime in the near future if we will have to change that outlook. >> it's kelly here especially if the margins as we know are that slim it is hard to eat the costs forever. could you talk big picture if you have lingering concerns for new york city? i saw a fascinating story about the average age of people renting has come way down. there's concerns about crime and other things what would you say you foresee for harlem, manhattan in the next three to five years >> new york city is the hospitality capital of the world. so nice they have to name it twice. new yorkers are resilient. we won't give up on the city people have left but people have always wanted to move into new york city and this is the opportunity. right now real estate in order to rent is renters price is a

renters market to come in, this is the time to get there. the theater's about to open up and so many people are fascinated it's so safe i'm so happy right now i definitely see a light at the end of the tunnel. i love new york and i'm not going anywhere. >> i want to probe a little further on what kelly just raised i was in the city the other night for the first time in a long time. people have had stresses, lost jobs and housing and gone through mental stress, as well the city is not the same as it was two, five years ago. you see more homeless people on the street a lot more uncleanliness on the street and crime is up does that worry you about attracting the tourist who is are so much a part of the hospitality business in new york >> speaking about 100% correct

i was on the phone with commissioner and the mayor's office just last week and the mayor put out an amazing task force that's battling crime right now. you will see more police officers on the subway and you will also -- he hired 10,000 people that sole job is to clean up new york city. hey. i can tell you right now i'm sitting in new jersey. i had to pull over and it looks different when you cross the bridge and go through the tunnel and for so many places definitely need to do better to keep new york cleaner and definitely safer the homeless rate is out of control. >> all right. >> there's issues that we have to tackle. >> thank you very much it is good to have your business back thriving again and good luck to you. thank you for spending time with us have a great weekend. >> thank you so much. the comeback kids, the dow

heavy hitters who have been underperforming, are they due for a turn around? we'll discuss. the indy 500 sunday. this year a nearly all female team could make history. we're back in a minute what happens when we welcome change? we can make emergency medicine possible at 40,000 feet. instead of burning our past for power, we can harness the energy of the tiny electron. we can create new ways to connect. rethinking how we communicate to be more inclusive than ever.

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boss baby is back. we're going to have to face creepy babies.

don't look at me. jail yard babies. i like glue. and ninja babies! oh my gosh. oh my gosh! welcome back to "power lunch. it is the final trading day of may. we are looking at the worst performers in the dow. apple, disney, verizon, visa and mcdonald's all bottoming out the index. will any of these stocks see an upside in june the trading nation team craig johnson and nancy tangler. interesting that we were talking about the great american comeback and disney is an under performer on the month. >> yes it is my dow dud pick for june you have not only "cruella" coming out today and streaming

but sporting events restarted and the parks and in mid june, california opens to noncalifornia residents and the company said something interesting about margins and pricing power. they are increasingly making the guest experience more digitized and that will probably lead to fewer employees but at higher wages so we like the story we think it's done nothing for the year but with the resurgence of the reopening we think this is a stock that's being underestimated and the disney plus subscriber disappointment is modest and they expect to exceed the goal. 260 million subscribers. >> craig, what name stands out to you >> visa stands out to me here's a stock that has had a tough may. corrected back to the support line looking back to march of

2020 from our perspective we think that the pullbacks should be bought and looks similar to march and a note from a fundamental perspective with everybody out and about again clearly trance actions are going to be up and people spend about two thirds of the people right now spending the same amount or more than spending in 2019 and should be a good setup and we think upside from here on the shares to 285 so about 25% upside from here and would be a buyer here heading into june. >> trading at 228 a share right now visa thank you. for more head to the website or follow up on twitter tyler? >> thank you. up nengs it is going to be the largest post-pandemic crowd for a sporting event yet the indy 500 sunday. 135,000 fans expected. we'll speak with the ceo of penske entertainment parent of the indy 500

more "power lunch" ahead there's a live shot of the brickyard. >> and now the latest from trading nation.cnbc.com and a word from our sponsor.

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welcome back to "power lunch. we are watching shares of gap closely today under pressure despite quarterly results that topped analysts' expectations. even with at that's pullback that stock is up nearly 60% in 2021 and gap was the latest retailer to shed some light on how consumers are refreshing their wardrobes. it's old navy and athleta. but the more business apparel focused banana republic and perhaps other brands saw

comparable sales fall 22% versus 2019, tyler. fashion and wardrobe i'll send things back over to you. >> thank you very much, dom chu. a massive step forward for the reopening. the return of live events with crowds sporting events. you see it in the stayeddiums a the nba playoffs sunday you have the indianapolis 500. they're running some practice laps there nearly 135,000 fans will pack into the indianapolis motor speedway making it the largest post-pandemic crowd for a sporting event yet here to tell us how they'r bringing back sports safely is mark miles, ceo of penske entertainment. what are you doing this year to open up for 135,000 people but maintain a safe environment? what are the restrictions, if any? >> yeah, we worked for months with the city and state to

arrive at protocols that everybody thinks is the place for us to land first of all, limitations, 135,000 is a huge crowd. but there's 235,000 seats in these grandstands. so 100,000 will be empty masks are required we'll do our best to enforce that with a lot of education information on the video boards and the like people walking up and down the aisles we hired hundreds of people with signs, we call them mask ambassadors. they'll prolitely remind people to wear their masks. cashless transactions at concession stands and all the rest we think we're doing the right things and are looking forward to a big, safe event. >> did i hear you right, you can accommodate 200,000 plus people there in the stands? >> it's 235,000 seats in the grandstands. normally we have 300,000 people out here, because we have the infield open as well and then there are suites, big

hospitality opportunities. we closed down the infield so we don't have the kind of activity that goes on there most years. we agreed not to do three big concerts that normally get about 100,000 between them on friday, saturday, sunday of race day so we scaled back the activities but yeah, this is a massive outdoor place and that's really foundational for why we believe this will be safe. >> i sense what you're trying to do here is do something at scale and do it smart. that's really to be applauded here i've been to -- i've been to nascar races but never made it to indy. it is such a part of the american calendar this memorial day race talk to me a little bit about that and what it means to racing fans, to the state of indiana, to the city of indianapolis. >> well, it helps that this is the 105th running of this event.

you know, it's a sensational tradition in history it's been an international event since it was first started so many years ago it's become the pageantry before the race, it's hard not to cry when certain things happen, like taps and the national anthem and the singing of "back home again. a lot of tradition and then the overwhelming emotion of so many people in one place. it's just a completely unique event that sports fans of every stripe need to take in we need to get you here. >> yeah, it is on my bucket list once when i was working in the magazine business i wrote a story on the ten sporting events that everybody should want to go to and indy was on it along with the masters and the u.s. open tennis, wimbledon, and so it is on my bucket list. mark miles, have a great weekend. congratulations. and best of luck, be safe. you can tune into the big indy

500 race on nbc this weekend coverage starts at 11:00 a.m. sunday morning, kelly. fun to watch. >> yes, absolutely and tonight on the news with shepard smith, they are going to have beth perretta, one of the founders of the first female indy race that will run this weekend. why pandemic-era to-go cocktails could stick around even after the country opens fully. we'll take a look under the microscope, next sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around.

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you might find out too much about us in the next few minutes here pandemic era cocktails to go to be here to stay post-pandemic. dom chu looking under the microscope. >> so you've got 14 states plus the district of columbia who are trying to put legislation in place to keep this idea of serving alcohol to go in place that's a big deal because it really helped a lot of restaurants during the pandemic with a huge lifeline because you couldn't dine in they lost on all those beverage alcohol sales. for a lot of the people who don't know a lot about the restaurant business, it's the beverage alcohol that has the highest margins, profit margins for restaurants. if they can't serve you food and also give you that alcohol, that's a big deal, kel. >> tyler

>> i don't know what to say. that's such a change in hackett because so many cities enforced open container laws. these are take home with lids. you can't drink it on th street, right, dom >> in new orleans you still can but this is that you can sell alcohol to go. that could be a big deal for restaurants. >> dom, have a great weekend kelly, you too everybody watching, have a great wonderful weekend and remember why we do it to all the brave men and women serving in our armed forces and those who paid the ultimate price, we're thinking of you this weekend "closing bell" starts right now. >> you can have a little sip before you get it home, tyler. welcome to "the closing bell," everyone i'm wilfred frost the major indices set to close higher with 59 minutes left in the session. >> i'm sara eisen. another sign of inflation heating up as the core personal consumption index came in higher than expected. salesforce i