soon >> go 20to one united.com. >> you bet and dow down more than 500 >> yeah, s&p is down 1% right now. just an ugly day in what has been a pretty ugly and volatile week for stocks overall. that will do it for squawk on the street though. tech check starts now. happy friday welcome to tech check. i'm jon fortt. carl has the morning off today facebook's quest mark zuckerberg talks about the holy grail augmented and virtual reality. and then a pre-miere player in n earnings exclusive is next

and later, maverick carter in yet another tech check exclusive. >> but we start with stocks as the dow drops around 500 points this morning tech is mostly holding up, the nasdaq down about 0.6% mike issantoli is joining us. the nasdaq has just turned negative as we speak >> right, so outperforming but not exactly really lending pure support to the overall index honestly, it is a moderately change stance by the federal reserve colliding with very high conviction crowded positioning in reflation trades in the overheating trade in the economy. you can actually see it here how the year has gone in the dow industrials against the nasdaq 100. the dow opened up in big lead against the mbx which of course is mostly faang plus semis and now given it all up largely because you had all of these

people crowded into this idea that inflation was going to be the near term risk, the economy would run hot, the fed would allow to it that and i see what has gone on as a lot more about kind of people getting challenged in those positions as opposed to really the overall macro picture changing very much but you can see there was a lot money dedicated to these bets for something that was anti-growth, pro cyclical. and it is getting unkround r wo unwound to a degree today. >> as we sort through different rhetoric from different fed members, where do we go from here we always look at the high growth names that held up and really led the way last year and would he we're seeing a lot them in the green this morning >> yeah, it is fascinating basically you had enough members of the federal reserve policy making committee expressing concern about inflation which made it seem like the fed's new framework of letting inflation

run for a while maybe did not have full support. that was basically your monetary policy excuse for what has gone on this week but in practice what has happened is longer term bond yields have collapsed because everyone is betting on longer term yields going up with inflation where shorter term yields have gone up because maybe the fed will raise overnight rates a little about the more large cap growth stocks have been much more correlated with longer duration assets so that is why they have a net bid this week even if it isn't in an absolute sense, even if it doesn't mean that they will lead the way the way they did last year if that is toggle that the market is operating with right now. >> thanks for that, and we'll dive into one of those tech stocks facebook knew this morning, morgan stanley calls it its top pick in social media says there is still 30% up side for shares as a price target of $440 and they say that it is thanks to the reopening with social

media use and engagement starting to tail off the oner will erwinner will be t can capitalize and facebook is this the best position to do so. and we heard a bit of zuckerberg's vision for innovation as facebook leans further into both ar and vr and zuckerberg contemplates the meta verse. >> there are a few different directions for this technology that we're excited about one is virtual reality which is what quest two is. and that is basically a completely immersive experience where you are in it and you feel like you are in a completely different place, a completely virtual environment. and then there is augmented reality which is eventually going to take the form of normal looking pair of glasses which can put holograms in the world

and blend the digital 3d world and give you a sense of presence there while still being in the physical world around you. so the holy grail there, five years from now when we're at a future version of vivitech together, if i can't make to paris, you will have a halologr mark sitting on the couch next to you >> you heard it right in and so we're back to glasses and it is not just social media. we've been hearing about the ar/vr potential from snap, microsoft and google and so will facebook lead the way or are investors better off putting their verge airtual eggn another virtual basket jon, there is still a sense that it is kind of a ways off when it comes to being a really consumer-facing product that has mass adoption.

>> a lot of companies are working on it. you can't forget apple but this goes back to the whole idea in such a thnascent market where innovation is as to important, it is what happened with wi-fi and so many companies that did eventually become something. does it need to be regulated, should these companies be prevented from launching these technologies, will that help the small are companies to innovate or will it smofther innovation before it takes off if that happens? >> yeah, a good question especially with m&a under so much more scrutiny the battle between the two i find fascinating snap is really working on this organically where facebook is sort of tgrowing by m&a where v is one of these places where you can't say that they have been copycatted other products because he's had his eye on it for so long.

and another part of that morgan stanley note that i thought was interesting, they said that the idea that facebook is losing relevancy among young people just isn't true. they have a survey that found that it reaches more than 75% of americans, 34 years and younger. does that sort of leaine up wit what you've seen as well is this a miscond concconceptio facebook >> i think it is about the fact take instagram has taken super relevant instagram has figured out how to take these feature monetizing them. >> 34 seems young for me, but that might be stretching it. >> 34 and upper. >> i know, but there is a lot of under under 34 and for somebody who has a skid who is about to be a teenage every and is almost as tall as

p p me -- anyway, adobe is holding on to all-time highs up about 2% in a falling market after reporting stronger than expected earnings for the second quarter. and a strong guide i spoke with the ceo about demand about the company's digital solutions, stability in north america out of the pandemic and plans to get back in the office. take a listen. >> the customer interest in the digital solutions was tremendous because they all recognized once they dealt with health and safety of employees that engaging with customers gidigit tally will be the most important aspect of how they continue to thrive as a business underlying how adobe operates, we call it the data driven operating model which allows us to take data from all these various diverse viewpoints and analyze them and understand what

that m that means for demand, engagement of customers. i would say the north america macroeconomic situation is still better and we're starting to get into a more normal post-pandemic environment. i think that some of the other country are still suffering as we know both as a result of lockdowns and unfortunately an increase in viruses. but we would say that the small and medium business which is perhaps impacted a little bit more last year, that has come back the basic consumer demand for all of our products continues to be strong. and i think for enterprises what i would say is the difference is that they always have interest in our digital solutions and right now they are saying we have to open up our purses and spend because if we don't spend, we will be disadvantaged relative to the competition. so overall i would say it appears to be a more stable environment, but again, driven primarily by north america >> is any of this a pull forward

in demand in the sense that in order to get out of this pandemic time period, in order to drive digital initiatives as physical begins to open up, customers are leaning in more than they ordinarily would, or is this more a new normal, are you at the point where you can tell whether it is one or the other or something else? >> adobe has always talked about the address onlable market opportunity that we have over $140 billion. and if you look at our results relative to what we had originally had as an annual target,s if clear that we'll blow it away so i would say that it actually reglflects for us the more tail winds associated with each of businesses we do expect a little bit more of the summer seasonality as people hopefully in this new normal actually go out, spend time with family, maybe it a little do a little bit more travel and then the seasonal strength back in q4 which for somebody like you who followed us for a long time that is the seasonally

strongest quarter. so we don't think that it is demand, would juste just think i the new normal as digital is more critical. >> and talk to me about product momentum and innovation. i'm an a todobe creative cloud customer and a number of products were updated most recently how has your productivity continued to keep pace through the pandemic and what are your plans as that reopening happens for adobe itself to bring people back into the office or to have them continue to be remote what is the roadmap there? >> two great questions first, i think on the innovation roadmap as we talkedrelease, wee incredibly excited about the amazing product innovation that people are working on,

everything from artificial intelligence framework when you talk about adobe scan, 100 million downloads, a billion scans done to date so mobile is clearly a big area of focus for us. collaboration and enabling teams to be morrowe productive as they are working in different locations. that will continue to be a theme for us i think having the cloud continue to be the place where we get all of this data and we analyze it and provide insights both on the creative side as well as on the digital expedient side, that will be an area of innovation for us. do i i do want to highlight the real time customer data platform and everything that we did on the digital expedience that business is doing incredibly well and we have reimagined things like customer journey analyticses and customer experience management on that new platform so the innovation roadmap is really exciting. max will always be another one

of those events where we talk a lot more about what the company is working on. and as it relates to your second question and how we think about it, first it feels to great to be able to talk to from you within the office right now. but in addition to that, a couple things that we've defined the future of work, we have a frame work and blue print for how we want to come back we want to come back in limited way for those who have been vaccinated so we do a pilot in san jose as you know parts of australia and asia have already been open. but we continue to believe that the core focus for the company is making sure that we enable people to collaborate in a more flexible way by coming into the office because it is incredibly important for us to build culture. so perhaps people coming back in the september time frame in a more flexible way. but we will also define a set of workers that we call remote workers. and for those remote workers, i

think that we have a criteria because frankly, it is a privilege and not an entitlement. and for them we just want to make sure that they understand the culture of adobe and that they have leadership roles so that they can ten to thrive. because if you don't grow people's careers, just allowing somebody to be remote without thinking about howten to thrive. because if you don't grow people's careers, just allowing somebody to be remote without thinking about how help them grow the company i think is short sighted. >> and you can see more of the df conversation, we talked about apple, google building a new beg campus right in adobe's backyard and whether he likes that or not. and we talked about m&a. and that full interview will stream in the next hour. you will find it lengthed on tech check's twitter account as well as our linkedin page which you can access by scanning the qr code on your screen we talk about all those things i just mentioned and guys, great to have him giving insight on a day again when the market is down but

adobe is up. >> well worth watching that entire interview and we continue to be all over the sell off, the dow donewn foa fifth straight day nasdaq and tech continues to hold up relatively better though nasdaq now on track for a weekly loss we're all over the stocks to watch next it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

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welcome back let's get a gut check on in invidia. bank of america raising price target to a street high $900 they say that invidia's superior growth profile and large unpen fr traited markets, make the stock their top compute pick let's dive into another stock. roku was a huge 2020 winner and holding up today, but it is off 20% since its february highs a big piece out this morning on cnbc.com going inside their culture with netflix reed hastings and roku ceo anthony wood both on the record monday a decade ago, roku was a part of

netflix and wood was a part-time employee before it was spun out and netflix sold its stake hastings saying that we missed a fortune. quoted in the piece is daniel lap lapp is joining us now thank you for being with us. the piece talks about roku's ambitions in content thousand. we with know it is a streaming giant but more and more pushing in to kept especially with the acquisition of quibi but can it really compete with the giants in this space >> thank you for having me today. it is a pleasure to be with you. i would say roku has executed very well over its history and clearly has now gone into the direction of acquiring very specific and very extra teenlgic k

platform and as you mentioned made the quibi acquisition i think as long as roku is careful about building that content portfolio and now alienates its great content partners, i think it can su succeed. and can continue to execute. and they have recently raised a significant amount of capital and that is rumored to be primarily for content. >> how does it make that argument, how can it be both a competitor and also a contributor, what does roku need to tell its partners right now >> think about can didly what spotify is doing in terms of content. obviously they have great relationships with their primary kept partners, the music labels. they have built a great relationship over time, but have now started producing and acquiring content i would argue in a very smart and strategic way. that is what roku has to do.

obviously roku can't be competing directly against amazon prime and netflix they acquired the quibi catalog that is exclusive. it is a very different target take getting a different demographic. and think as long as they continue those lines, they will maintain phenomenal relationships with their kept part content partners >> and i think it is wofrth noting that there has been a land grab for media companies in job. but i'm curious as you watch roku move further into this direction rely doubling down on the ad-supported content, who did you see them competing with, is it a hulus off the world or peacocks of the world or is it more with broadcast tv and cable

tv there were interesting numbers out from nielsen talking about the fact that broadcast and cable tv still by far dominate the amount of time people spend watching every day >> well, as you know, roku streamed approximately 18 billion hours last quarter and that has been on a tremendous growth trajectory and that shouldn't change. there are a set of treands occurring in the tv landscape which is in fact a shift away from traditional linear tv and legacy tv bundles more towards o.t.t., more towards connected tv and roku has been a winner in that space and these trends will continue there is also a trend of linear tv ad dollars shifting from traditional tv to o.t.t. and connected tvs. and that will also continue. and right now there is still a

viewing versus dollar gap. there is still a significant amount of dollars in linear tv advertising. but it has shifted to a multibillion-dollar level so far and that will continue >> one of the things that i find most fascinating about roku is the option ality in its model. no bshenefit from disney plus trying to launch because they want placement in front of roku's huge audience how do we see the degree to this -- to which this business model is across from other kept pro content providers and using unique content it shore up its own consumer base? >> i think that you stated it quite astutely obviously roku is a platform that is focused on bringing wide plethora of content to consumers

having significant and great ease of use at a reasonable fee. and so today with over 50 million connected homes and over 100 million viewers just in the u.s. alone, if you are going to launch a new o.t.t. service, you have for launch on roku. and there have been a wide range of reported figures about the revenue that roku derived from its streaming partners su netflix, et cetera, and that will continue. and roku will continue to be a great platform to have a wide array of content and around that, they will develop -- they will acquire and develop shoulder programming such as quibi and some other things, obviously it has been announced of this old house and that catalog and a production studio and capability, et

cetera >> so paths of watching and shoulder watching. daniel, thank you very much for being with us. >> my pleasure, thank you. an interview with maverick carter is just moments away. plus plus, stocks lower, bitcoin down 5% and another institution getting eaeper into crypto, after this brk. jerry is here! j! mate, how are ya!? it's so good to see you. good to see all of you, yeah! why is jerry so... popular? it's been like this ever since we started using workday. what do you mean? it makes it easier to develop great relationships with our suppliers. now everyone, everywhere loves jerry. they sure do. they do. they really do. mmhmm. workday. finance, hr, planning and spend management for a changing world. wondering what actually goes into your multivitamin?

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welcome back to tech check stocks still negative on the session as the fed's jim bullard warns that inflation is running a bit hotter than expected more on that in a moment but first let's get a news update with rahel solomon. >> good morning and as you just mentioned, stocks are down and

dow and s&p are posting their biggest losses in more than a month after that top fed official said that inflationary pressures are rising faster than predicted and traders bet that the fed will abict sooner. >> we were expecting a good reopening but this is a bigger year than we were expecting, more inflation than we were expecting and i think that it is natural that we've tilted a little bit more hawkish here to contain inflationary pressures >> many commodities are on the rise today gla grain is rebounding but lumber prices continue it fall. and smith & wesson is bucking the market, shares up about 13%, 14%. sales shot up 67% from last year's level driven by higher gun sales. shares now trading at a five month high

you're now up-to-date. and we're watching the markets, the dow is down about 475 points nasdaq losses accelerating tho now down about 1% but faang has been a bright spot and dom chu has what is moving >> some of these mega cap tech nothing consumer kind of pure tech plays are outperforming overall. if you take a look at the overall picture for the week, as of a few moments ago, technology was the only tech sector this wk this positive territory. technology now drifted very marginally into that negative territory. contrast that with materials and financials, fairly neck and neck commodity selloff story has a lot to do with the materials

sector kind of selloff and financials very much an interest rate story over the course of the past week and even over the past couple week as well so tech, materials, financials, three sectors to keep an eye on. if you didyou dig into that tra little more, check out cloud computing. over the last month, it is up 11% outpacing the market here. the semi conduct tor trade, some say that is a leading indicator, that is up about 8%. and the technology sector overall up 6 so semiconductors and cloud computing both doing some of the heavy lifting. if you look stock -wise, invidia over the last week, adobe, we just heard from the ceo there, service now, apple, some of

these names that are kind of in the hicksmix are actually doinge outperformance so keep an eye on those particular names and elsewhere with regard to mega cap technology and communication services, facebook and alphabet year to date basis, facebook up 21% and alphabet up 37%, but i want to point out that just over the course of this past week, we have seen record highs for both of these stocks, so facebook, invidia, apple certainly key to watch and outperformance driven by a lot of those things >> absolutely. and dom just said it, i'll double done wn on it, look at t cloud computing etf, that up still 4% for the week outperforming the s&p on track for its fourth positive week in five and maverick carter, lebron james' business partner, he started his career at nike, an

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goldman sachs is ramping up its bitcoin trading operation.

hugh, what does it represent both for goldman and bitcoin, is this a bet that bitcoin is going up or just an acknowledgement that clients want exposure to bitcoin and that it will be extra tradable going forward >> jon, nice to be with you. so it is more the latter which is clients -- and we're talking about sovereignwealth, fe pensions, hedge funds, family offices have been asking their investment banks, we want exposure, we want to play bitcoin. and for the most part banks have had itto say no, we can't do it yet. so that is beginning to change as goldman started up this new crypto trading desk last month the news today is these are the first trades where you have goldman which is obviously zero regulated, you know, very important very central to the economy investment bank dealing directly with a firm, a crypto

centric firm, which is galaxy. so you will a have more institutional players. nobody wants to do something first at a bank, they always want to wait until somebody else does it and in this case it is goldman. and once they see that it works, all the other banks will jump in and i think that this means that there is an advance in the maturation of this asset class for institutional traders. >> and so hugh, to that point, do you think that this will open the floodgates how much others will follow and will it just become standard now for these big financial institutions >> well, yes i think a couple things. when you have clients clamoring for something, there is only so much that you can say look, we're not going to do this they have reached that point goldman has finally opened up this crypto trading desk if you recall, they tried to do

it back in 2017 and ultimately had to shelf the plans here we are four years later and they are actually doing it the sense is that now the seal has ba has ban been broken and i thinke bigger ramifications is once you have more institutional involvement, what will that do to the volatility of bitcoin and so i think the argument is that you have so many of these retail players who get 100 x amounts of leverage pushing this market and you see these huge downdraft days that you've had in crypto, and if you have more institutional players, you will be involved both long and short, they will have views that are different from the retail players and that will ultimately start to mature the asset class where it will not be as volatile as it has been historically. >> and we may already be seeing that i feel like a few months ago

we'd see bitcoin surge, but today still down about 0.75% meanwhile, we're watching a new cryptocurrency that is climbing in popularity. kate, with most crypto cur currencies that storm on to the scene, there is some controversy around it. and it is not short of that. >> that's right, plenty of controversy and it has gotten a lot more popular recently. let's talk about tether. so this crypto currency has qui quietly risen to the third largest in the world on an average day tether sees adminis more trading volume than bitcoin or ethereum. but the price has not changed. its price is pegged or tethered to that of the dollar, so one tether equals one dollar, one to one there. but tether is not 100% backed by

u.s. dollars in a bank account it is made up mostly of dollar dec dollar-like assets according to jpmorgan, it is 7th largest holder of commercial paper in the world and there is some controversy around that. new york's attorney general accused tether of lying about those reserves and moves hundreds of millions between companies to cover up massive losses tether has not responded to cnbc's request for except.endedn that cryptocurrency in this morning state. i've been talking to a lot of folks who use it, not the goldman sachs folks. they trade bitcoin on the weekends when banks are really not open and btransfers can take a few days so it is faster to go through feather and a lot more popular for international traders who want the stability of a dollar

but they might not have a u.s. bank account analysts tell me tether's rise this year is mostly to people selling out of bitcoin and putting money on the sidelines in to tether and also looks into things like nfts and cross-border payments >> certainly one to watch. thank you for breaking that down for us coming up, take a look at morgan stanley resuming coverage at overweight and a $180 price of happematch group. and they continue to see up side in the second half of the year driven by pent up demand for online dating.

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what i'm mostly worried about is becoming a culture to attract aor retain the people that they need who say that they need more insurance or would like it if they don't have it. and that comes down to using technology so that people can eninteract with us the way that works for they mthem. and enabling our agents. >> and that is mass usually's roger kracrandall, i spoke to hm about the strong uptick for life insurance and how he is using

machine learning to s ing to st the underwriting process if you want to learn more, scan the code for the full interview. and still ahead, some fake news from blade. literally it is fake news. that is coming up. but first and maverick carter a the break. don't like surprises? [ watch vibrates ] proactive notifications from fidelity keep you tuned in all day long. so when something happens that could affect your portfolio, you can act quickly. that's decision tech, only from fidelity. wondering what actually goes into your multivitamin? y at new chapter,ly. its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done.

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it has been about a year since lebron james and maverick carter's spring hill company announced a $100 million investment to fuel growth across its divisions including spring hill entertainment, producing documentaries, scripted tv shows and films. uninterrupted, the platform for producing content add products and athletes i sat down with spring hill ceo maverick carter. we started off the conversation with spring hill's first big theatrical movie, "space yam," a new legacy warner brothers will release simultaneously in theaters and on hbo max next

month. >> that is the future of business and streaming, and how do you build -- you know, i don't think theatrical releases are going away i think big movies like "space jam" will work i think it will work and it will do great in streaming. that's the future and i'm into it >> does it mean lebron will be looking at a career as a movie star post-basketball >> listen, he is one of the most talented people to ever live he has an ant to learn and apply. i always tell people, i could learn fast but sometimes it takes me a while to apply. he can learn and apply literally on the fly so i think, you know, it would be up to him if he wants to be a movie star, maybe he will do a couple more movies, maybe not. i don't know i think he likes the idea of being a movie star i honestly think the work was more than he ever expected >> in the past year especially we've seen netflix rise, all of the different companies that are about the direct-to-consumer experience for you running a company that is producing content for all

these platforms, do you have a preference for which kind of platform you are producing for >> i don't have a preference i think ultimately the type of content you make or are making at that time, and we make a lot of different things, documentaries, big movies, smaller movies, scripted shows, lots of unscripted shows i think the content dictates where it should live, and you have the platforms and the distribution places like netflix, like amazon, like disney now, like, you know, hbo max, all of them, amazon, i think i said them. there's a lot of them. they, a, know what is best for their platforms and spaces but they're still experimenting, right. comcast, universal, nbc just launched peacock so they're experimenting and seeing what works. i want to do a movie for them. >> you are also producing short-form content, branded content for other platforms like instagram, youtube what i think is interesting is this is a part of businesspeople

may not know about or that you are in. your clients include uber, some of the big financial. >> prom tore & gamble, walmart, jpmorgan, chase, i'm sure i am missing some but it is part of the business that honestly when we set up the spring hill company, it is honestly the world i came from i didn't grow up in hollywood. i didn't grow up wanting to make movies, wanting to make tv shows. i grew up at nielke i think to that point a year later for my company, it went faster than we thought we are a content studio for -- content studio of record for nike, working with walmart and gm, in the same way proc proctor & gamble, telling a story through the lens of people, talent, creators and really invoke a feeling but at the same time telling a story about the brand. we have created franchises with brands >> you have mentioned so many

different companies in this conversation which are the companies that you most want to emulate >> we have been able to carve out this little lane to drive so we get a chance to see what they're all up to, see the future, and kind of people from all of them to build who we want to be and what we want to be but i think obviously you think -- you look at our sports brand, uninterrupted, it is a lot of dna from nike, it is a lot of from what i learned there. if you look at the spring hill company in totality, it looks and feels a lot like disney if you look under the hood because we all admire what disney did and what bob was able to do when he was ceo, bringing in pixar and marvel and building the content business and focusing on experience and product >> right now you are on these different platforms. could you imagine creating your own subscription service, making your own direct-to-consumer channel and aggregating your fans into one place? >> i can see that. you can go on uninterrupted.com

to buy our products. i mean i think absolutely we could -- i could see us in the future maybe looking at that i mean it is a long way off for us now obviously you see what the big companies do, they invest -- it takes a lot of money but absolutely i could see some version of that for us in the future, and really staying in our lane and keeping our space carved out >> you sort of alluded to a lot of the consolidation happening in the space the tech companies are buying media companies. everything is coming together, and i am wondering if you have been approached by any of these companies. there aren't many assets like spring hill out there. can you imagine selling to one of these >> thank you for saying there aren't many out there like us. listen, we love what we're doing. we serve the athletes, the talent, the writers, the directors, we serve our brands like the shop more than athletes if we had an opportunity to super charge that or be in a platform that took it globally in an instant, we would have to look at that absolutely. >> juneteenth is coming up on

saturday it has been about a year since the black lives matter movement. do you feel like things are changing are there companies that you think made meaningful commitments? >> you can put black people on the board or even in high-level positions, but you really need black and brown people, women, throughout the whole company and you have to be very -- not be afraid to be specific about it like, these roles we need to have black people or these roles i want to have a woman in this role, because i always tell people, the thing that kept black people out and the thing that kept women out was very specific you know, there were clubs and businesses and this job, they said a black person can't have this job or a black person can't come to this club. so you can't be afraid to try to reverse that, to be specific and say, hey, this role i want a black person so i think things hopefully will change i'm being a part of it, but my main message to companies are don't just put black people at the top of your company, put them all the way through because

that's how black people don't have this feeling of being stuck. in big companies black people feel like they get to a certain level and get stuck. >> you can find my whole interview with maverick carter including his thoughts on in-person events, streaming sports and commerce, ecommerce on cnbc.com/techcheck. we have seen billions of dollars committed to dei at the big tech giants in particular they have stagnated without a lot of progress there. >> first of all, great interview, some controversial thoughts, some thought-provoking observations from maverick carter there you know, i think as a country we -- juneteenth in a way sort of snuck up on a lot of people i'm not sure how to celebrate it, but i'm thinking about america at its best is about progress toward a more perfect union, dee how does juneteenth fit into

that i think part of the legacy of what it represents is proclamations alone don't solve problems, right? information is necessary, and then economic work is necessary. so as we start figuring out how to celebrate, that's should probably fit in. >> right and you have to track progress, to julia's point i think she is referring to some numbers that fast company published for today showing sort of the progress among big tech companies. as maverick carter said, it can't just happen at the board or at the most senior levels it has to happen throughout organizations. in a year, guys, where remote work has been the norm and companies can hire outside of these tech hubs, that really hasn't happened, at least for apple and amazon, which have updated their 2020 numbers, julia. >> yeah, and it seems like really transparency is a key part of this the more these companies reported, the more we talk about it, the more there is the potential for change, jon. >> yes yes, indeed.

let's get a quick check on the markets as we head toward noon all of the major indices are lower, the dow most of all, down almost 400, more than 1% the s&p, down nearly 1%. the nasdaq, in the red but holding up best of all with that, happy juneteenth weekend to everyone. dee, julia, "halftime report" starts now >> jon, thanks so much welcome to "the halftime report". i'm scott wapner here at post nine inside the stock drop, how long it lasts, which names are most at risk and when do you step in and buy? that is the big question the investment committee making all sorts of interesting moves today. we'll reveal them and of course debate where your money is going to work best in the weeks ahead. joining me for the hour today, shannon saccocia, the chief investment officer at boston private wealth kari firestone, josh brown and pete najarian here as well o