new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. good day and welcome to "power lunch." i'm tyler mathison along with kelly evans. the s&p hitting an interday record thanks to optimism over the economy. experts say an infrastructure deal could boost growth creating new opportunities for investors. >> and the next frontier a new "power lunch" series

launches, changing the way we work and live. we kick things off with startups on net yorking today >> and hotels to cruises to recreational boating, you won't believe it americans, yes, they are on the move in a big way and setting the stage for a hot summer for the travel and leisure industry. "power lunch" starts right now first, though, let's get a check of the markets the dow jones industrial average up 240 points, 20 points off the session high at the moment powered by nike. more on that in a second s&p 500 up a quarter percent the nasdaq down a tenth of a percent today. now shares of nike are soaring the stock hitting a record after they said they expect full-year sales to top $50 billion nike shares up almost 15% today.

bank stocks are helping after the fed lift ed over to rick santelli now who is tracking the action after today's inflation numbers, too rick >> reporter: yes, things have heated up a bit and we're coming close to the end of the quarter and the end of the next year week look at this chart going back to '91, year on year personal consumption expenditure, part of the personal income and spending data this morning at 3.4 it's at a 29-year high we know this will be transient the arguments are good arguments. the market has to differentiate the timetables here and it looks as though it's being more aggressive today yes, it is a staircase to heaven rates are moving up aggressively, opening up to the 16th and you can see highest yield since the 17th

it looks to be the highest close since the 16th and, consider this, they were up ten on the week. 30s are up 16 basis points on the week to close last week at 201 making up a lot of ground. it isn't only here a one-month high in yields overseas in europe at minus 15 a one-month high yield kelly? tiler? >> rick, put these numbers tyler and tell us what the market is saying to you. what is it reacting to and what is it forecasting? >> reporter: you know, i think if you take a longer term view, tyler, everyone is scratching their heads why rates aren't higher i think rates are lower in the big picture because debt kills growth the more debt you have, the harder it is to grow the more near term i think it is the end of the quarter, the end of the half year and i think when you add in in front of a weekend where there's rebalancing and hotter than

expected numbers, well, in front of weekends is a good time to see who is swimming naked and who as soon, and what i'm referencing this is when warren buffett talked about derivatives. risking your positions over the weekend to get a lot of honesty. >> thanks very much, rick. appreciate it. have a great weekend speaking of friday trades, the rally in stocks and here to talk about the market impact and how to trade it, stephanie link, halftime trader and chief investment strategist and portfolio manager. is there any hat you don't wear, steffi and ron insana, a cnbc senior analyst, commentator and senior adviser and a senior this and senior that. lady and gentleman, welcome. what did you learn this week there was testimony from jay powell, there's more information on inflation there was bitcoin. there's a rally to all-time highs in the market, what did you learn? >> i learned the stimulus

continues to fuel a better economy. the economy is humming along we do have some inflation. i am not in the camp of it being transitory i think wages are not. add it all up and you have low yields even at 1.53 on the ten year today it's still incredibly low. that, to me, tyler, is goldilocks >> what do you see, goldilocks or the three bears >> i was about to use the same expression, tyler, without coordinating with stephanie. if wage growth is not transitory, they have more purchasing power and that's relatively healthy it means that after we get through the supply change disruptions it's altogether possible that we'll see an economy that is reasonably strong over the longer period of time

i would disagree about debt killing growth it hasn't been true here yet maybe some day in the future i think we're in a good position the fed is on hold irrespective of the comments we've heard. the one thing about the stimulus that's coming through, the smaller than expected size when it comes to infrastructure, less pressure on the bond market. that's keeping rates lower than they would have been i think we're in a pretty good spot as far as the financial markets. >> you forecast my next question, ron, which was going to be -- some people could say that far from crimping growth, debt actually expands growth, and yet, of course there is an argument that down the road it could. stephanie, do you want to react to that? >> yeah, i think obviously the deficits are a concern but as i've said before i don't think that we're going to have to deal with it. i think my child who is 14 years old or my daughter who is 14

years old, they're going to have to deal with it. i think we're kicking the can down the road. interest rates remain very low if they do spike we're going to start to hear more and more about it back on the infrastructure plan, obviously having it bipartisan is a really good thing to have congress agree finally on something. and we all know it's very much needed but, tyler, i want to mention i think a lot of the reason why they got this done is because it helps jobs, right? if there's a multiplier effect in the industrial part of the economy for every one job that is created, 7.7 jobs are created around it, so one way to get the 9 million people that are unemployed into being employed, i think this is going to be a very nice tail wind and i'm looking forward to seeing some better employment numbers down the road >> i wonder how bipartisan this infrastructure deal really is. there's a lot of negotiating left to go here and i would not question joe biden's knowledge of how congress works at all he spent 35, 36 years in

congress there are so many hopes -- >> 37 but who is quibbling >> yeah, there are >> how many? >> 37. >> and, listen, you have to worry about republicans as much as progressives because they're complaining they didn't get what they wanted out of the progressive side complaining they didn't get what they wanted out of the infrastructure package and they want to see much more in terms of soft infrastructure in the reconciliation bill that's to be debated. having said all that, tyler, i think that somehow this stuff will look across the finish line you'll see rates fall if none of this gets through. it's a double-edged sword. on the one hand, yeah, it would be less borrowing and less stimulus and less job creation underpinnings for the market and the economy to grow.

>> the portfolio manager that you also are, what have you done this week? have you bought or sold anything and if so, why >> more industrials, more cyclicals. we've talked about it. the economy is improving you want to have companies operating leverage to the improving economy and a little bit more inflation i've owned this thing for a long, long time. 14% in five days and it's a global proxy for growth which i do believe we're going to see a step up in growth next year globally it's an ev play, a housing play, and they have the best copper assets by far than anyone else the number one player and it's just blue chip and they've been lowering their debt improving their balance sheet and i think will reinstate a dividend at some point soon. i like that one. the other is emerson electric, and i bought that earlier this week, also has been a laggard. they had very strong earnings last quarter

china is a big play for them they saw up 40% growth in china last quarter alone a great job in terms of enhancements and restructuring and $15 billion. >> thank you for being here. >> thanks, tyler the stock is staging after falling out of favor with investors despite the pullback the best week since april. they're up about 8% driven by a rebound in the price of bitcoin and an upswing generally in stocks morgan stanley and its rating on the $900 price target. morgan stanley calling it a core holding but the stock is still down year to date by about 4.5%. more than 20% off its all-time highs set earlier this year and investors will soon turn their attention to second quarter deliveries due in about a week old school sports fans complain about the intrusion of numbers on their games but jamie

dimon doesn't seem to mind jpmorgan making a bet on sports analytics. the first official weekend of summer and americans seem ready to travel. coming up, we're checking in on hotels, cruise lines and the boating industry to see if this opening can live up to the hype. stay with us 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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number crunching helped the new england patriots build a dominant team on the field tom brady and bill belichick had something to do with it. it comes from the kraft analytics group. they work with the nfl as well as teams across five major -- all five major sports leagues. they have ncaa members, sports and ticketing and a new partnership with jpmorgan which does a lot of lending to sports investors. with us is the ceo of the kraft analytics group. congratulations. it's great to have you explain how this all came about with a-rod looking at the mets >> let me just start that the pneumonic is kagr so we had a little fun with the financial term last summer we were doing some work with jp morgan on the mets project and had a good experience we had a really good experience working with their team and thought there would be some

really good potential synergies for both parties so the intent of what we're trying to do is help potential clients of theirs who are looking to invest in a sports team with understanding the opportunity and then also to be, once they've made the acquisition to help them grow that business and best leverage that asset that they now have in their portfolio. >> how do you mine data? what kind of data do you look at and how do you package it in a way that would help an investor who wants to take a slice of a team as a-rod did with the minnesota timberwolves or an existing owner who wants to enhance his or her performance >> there's really two times of data the primary data which the team actually owns and that's the understanding of who their customer is and that's really the heart of what our business is, helping create great fan

experience for the teams that -- for their teams. and so the work is understanding what is the right product for the customer at the right time so that's the one customer component or key component from a data perspective the other is what we would call the publicly available data to be part of our machine learning models and we do a lot of different types of work, so we have a bunch of kagr metrics where we're defining and understanding the value of the fan, we're making sure that sales agents have the right customers they're reaching out to because often there are so many fans who have potential interests in attending games or following on the various media assets, how do you get to the right customer at the right time and then the third -- >> i'm sorry to interrupt. could you give us an example of a case where you have used data

and presented it to the owner of, say, i don't know who, the dallas mavericks or whomever, and it has resulted in either higher revenues or greater profitability? give me an example how you take the data and say, look, if you put the popcorn in this or you did that, you'd make more? >> i think it's a great question i think the best example is some of the work that we've done with the nfl which is very -- they're obviously invested in data and in understanding their customers, their ticketing customers, meaningfully four years ago. this is the data available and putting it to use. they would send out surveys to fans after games but it was kind of a blind shot of who they were sending to through the platform we built for them they are now sending it directly to customers who are actually attending the games. and the impact of that is

they're getting actual feedback from fans and customers about their experiences, not people who weren't attending. obviously the number of responses they're getting has increased dramatically and then the changes they're making within the venues has massively increased. so i can give the specific example of the team, but broadly you've probably noted and seen the number of investments that are happening across stadiums this off-season or the last year and a half ago to enhance the experiences and a lot that have is better insights into what the customers want and need at games. >> jessica, i thought it was interesting, you worked with the 76ers and the nba, a team needing to sell tickets to engaging their fans but building off what tyler was asking, it's interesting to watch the entire sports industry at a turning point here so much is made of the aging demographics, you know, people always say i bring my kid to watch games. as we all know, those who are watching a product on tv, that audience is getting older.

the younger groups are much more interested in video games and other types of content at a time them need to maximize engagement, keep people both attending the games and watching them on tv and growing the value of these assets and not just kind of watching them roll off, what do you think are the main things that the major leagues need to do to make sure that they are going to have fans for the next generation? >> i mean, the big change, it's not just happening in sports it's happening across all industries, data is an asset and we're in the fourth industrial revolution without question and if you just look at the past couple months of what has been going on, the wealth of data that's now available is massive. there's mobile ticketing which the acceleration to probably 90% of people attending games. that means that teams and leagues know who is coming to their games. gambling will have just an incredibly huge amount of engagement in that new data that

will become available. there's going to be a battle for who owns the data. teams and leagues, remember, these are their fans so we're helping to guide not only on the technology side but also on the strategy component of what is the right give/get for your valuable asset. and i think the new science jpmorgan has that are very progressive and they have seen data in their other work, in their other industries, they understand the value a big kudos to jpmorgan for kind of recognizing the work that we did with them last summer that it was significant and different and helped identify major areas where, i guess we would say this asset was undervalued and what the opportunities were >> it's so fascinating and jessica gelman, thank you so much for joining us today.

we really appreciate it. >> thank you great to talk to you >> thank you we'll talk again, i hope up next, meme stock blackberry sinking why one firm is down grading the stock today. that and more in today's power movers plus, cruises finally returning to u.s. ports. we will take you live to the deck of royal caribbean's celebrity edge when "power lunch" returns at cdw, we get your it staff has be ready to take on new challenges. that's why we built an office obstacle course ... to prepare our people for anything. you're late well, cdw amplified services experts will consult with you to design, orchestrate and manage your most complex technologies to help you quickly overcome any obstacle ... without all of this. oh, that is better. who's that? oh, if you want coffee, you gotta get past tantrum. you're in for a brewed awakening. for technology that moves you forward, trust cdw amplified services

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the death toll in surfside, florida, expected to climb after the partial clamollapse of a beh side resident. shepard smith is live with the latest hi, shep >> reporter: hi there. they're holding a news conference right now, the miami-dade county mayor is speaking no new numbers to offer, but they do tell us they're now briefing the family members at the center just around the corner from here every four hours. right now the number of people unaccounted for stands at 159. four people confirmed dead they've not found anyone else in the rubble today they have brought in new heavy machinery that's stirring up the

pile and somehow down there within it is a fairly significant fire the mayor of surfsize told me a short time ago that he believes there was, in fact, a generator at that building and it's his belief that the generator fuel is likely burning. they're concerned that it's toxic and many on the pile are not wearing masks. an update on the situation here and should they find anybody we'll come back for sure >> just an awful story >> shep, let me ask you a question, if you're still with us has the rain complicated the rescue efforts either because it makes it more difficult to operate the machines, or because it creates a greater weight of that dusty pile? >> reporter: all of the above, tyler. there was a significant rainstorm early this morning there have been two more since and when that happens, the winds kick up. anyone who has been in florida in summer knows, you'll suddenly

have 25, 30-mile-per-hour gusts and that puts oxygen on the fire which creates more smoke the wind is blowing directly off the beach and coming at us at this moment. and those people on top of it, many don't have any protection at all the chief from new york city who talked so much about what happened in the attacks of 9/11 say they're hopeful we don't have another situation like that, that whatever this smoke is, is not toxic if they know what it is, they're not telling us >> shepard smith reporting from miami. >> terrible. back to the markets here, as we've been telling you all afternoon, we have both the s&p and the nasdaq here looking at highs. even though the nasdaq is lower the s&p is up 13 points, the dow is the strongest paced by a huge pop in nike today. >> time now for "power movers. shares are higher after darden

topped prepandemic revenue >> netflix stocks is getting an uplift from credit suisse saying it's chief and still dominant when it comes to original content up 2%. >> shares of blackberry under pressure the stock now downgraded to sell the analyst cites the valuation after getting caught up in the meme frenzy. blackberry ceo john chen will join us for a first on cnbc interview later today. the oil market readying for the close of the day pippa stevens is all over it oil rising in the close today posting the highest in nearly three years and a fifth straight week of gains wti crude futures up 0.9% at $73.98 brent crude rising about 0.7 and u.s. oil rigs declined by one this week bringing the total to

376. and that's well below pre-pandemic levels. now all eyes are on next week's meeting between opec and its allies where they are expected to decide on august and beyond we are seeing some impact of higher oil prices at the pump. the national average for a gallon of gas is now nearly $3.09, which is up 5 cents in just the last month. back to you. >> pippa stevens, thank you very much ahead, the red-hot summer of reopening. we're taking a deep dive into the sectors benefiting from the travel takeoff setting our sights on the next tech frontier. we'll give you a peek at virtual networking when "power lunch" returns. if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events

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welcome back to "power lunch. it's the first official weekend of the summer, and we're going to spend the next hatlf hour examining all the angles of travel air travel, back to 2019 levels and the head of the hotel company who says room occupancy rates are rising as well cruises are back finally royal caribbean will be the

first cruise line to sail from a u.s. port since the pandemic began. a live report from that ship plus, people are hitting the water in smaller boats, too. the ceo of brunswick will join us if you want a boat, put your money down now and they'll get you one by 2023. >> the ceo of brunswick, let's welcome him now. the markets have been anticipating this would happen for a while. a look at some of the red-hot stocks over the past few weeks american airlines up 68% hilton, 72%. royal caribbean up 81% and mgm resorts up 163%. as we were told vegas is jam packed mgm resorts up 160%. and these are just examples of other stocks in the group have similar returns. check out brunswick, that is, as kelly mentioned, the boat maker up 53% in 12 months and already 29% higher on the day and a buck and a half or so higher on this

day. did i say 29% higher on the day? that's not right higher recently. you can't make the boats fast enough and now let's bring in the ceo of brunswick welcome. you have good problems, don't you? >> we do the demand is very constructive for us through april of this year retail was up so really strong and our effort really is on getting production as efficient as we possibly can to try and meet that demand not only the retail demand but trying to back fill some of the really low pipeline in the field. but even with our current production rates we expect that to take probably more than two years. >> so if i wanted to come in and buy a boston whaler or one of your other brands, how long would i wait >> it would depend on the model. a lot of people have a boat

already. they're prepared to wait if it was one of the larger ones it could be significantly into next year. you might get some of the smaller ones earlier than that >> and so how are your revenues tracking compared with last year or compared maybe more importantly with 2019? where do you stand >> we're continuing to be very strong with the market environment so strong and our divisions all working really well, obviously the business is more than 45% of the u.s. market. market share gains are huge. i would say our revenues are very strong. in the first quarter our revenues were up more than 40% and we're continuing to see a lot of strength in q2. the comps are a little bit different. q2 last year was one hit by the first wave of covid, but we see really strong revenue growth through the balance of the year. >> back to the question of the backlog of orders which, as i said, is a good problem to have,

is it because demand is so high? is it because there are parts shortages and supply chain issues there is it because the labor is hard to get or is it a combination of all three? >> well, i would say we're dealing with the supply chain disruptions extremely well we expect to meet our production forecast this year as you mentioned, labor is tight. we're being very creative in various areas to get the labor we need. i think we're producing very efficiently and effectively and we're adding capacity to try and help alleviate that backlog issue. so really this is created by the fact that production was disrupted last year. and so we ended last year with unusually low inventory levels and we're obviously a very seasonal business so we're producing constantly through the year, but we need inventory to meet the needs of the peak selling season which is really

now for the northern markets so this is more about an inventory haul that was created last year in combination with just tremendous levels of retail demand all that said, we're producing as much as we can but we'll still be in a very low inventory situation by the time we get through this year. >> david, there are a lot of jokes about boat ownership and what a bad financial deal it is for people because they're sort of recreationally interested but it is a lot of upkeep, and it can be an investment and they don't get a ton of usage are we heading into a situation where people are going to dabble with this and go, you know, we're kind of done with it we're going off to tour europe on a riverer boat next summer. all of a sudden you have a flood of inventory hitting the market. are you worried about a hangover, a correction in demand >> no. we're really not, kelly. there are a lot of very constructive trends. i think, first of all, boats are tremendously high quality at the moment a couple of things to kind of

think through in that regard, obviously we have alternative ways to participate in boating like freedom boat club which is a way of participating with boat ownership. if we just think about ownership, it's really very cost effective now because of really high quality levels. we actually have an online community we set up called ripple where we interact with a lot of new boats trying to understand their experiences and we recently surveyed them. of the people who bought boats last year, 92% rated their season four or five stars out of a possible five, which means that the people who entered boating are having a great time. >> did i hear you say 40 some percent of your revenue is from the engine side of your business, which i guess is mostly mercury, a brand we're all familiar with? did i hear you right >> mercury is a very large part

of our revenues, probably in the mid-30s or up to 40% now i was talking earlier about the growth year over year. >> i see, i'm sorry. thank you. >> of course mercury is very strong >> you announced an acquisition of a norwegian, after my home country there, a norwegian business tell us about it you spent about a billion dollars. is it going to be immediately or next year or what do they do >> it's a wonderful acquisition financially and strategically, one of the brpremiere providerso sonar and radar. they have some of the best brands in the marketplace. really well-known brand. this year we expect revenues about $470 million consistent with our business which

strategically they fill holes in our portfolio that make our total systems everything really attractive they're also very oriented to the after market so about two-thirds of their revenues come from after market, and that is a very annuity oriented model, so it's very reliable, very noncyclical and very high profit financially, strategically from a personnel perspective from a capability perspective, they're a fantastic acquisition for us >> thank you for being with us i know there are a lot of boating enthusiast who is would love to have your job. david foulkes, thank you very much >> i'm privileged. the new virtual reality of business networking. after the break the first part of a new series we'll look at the cutting edge trends paving the way for the next tech frontiers and maybe ipo pounieoprtits. made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm.

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isn't digital networks like linkedin but ways to connect even virtually but face-to-face. startup lunchclub uses ai for meetings it raised $24 million at a $100 million valuation t. started in 2018 when it pivoted to virtual only meetings during the pandemic, growth skyrocketed by 15 times in the past year and it's now facilitated more than 1 million connections. and thousand inow it's offering in-person meetings as well there are other business networking tools, shapr allows to you swipe, yes, like tindr, glimpse allows you to connect employees with video chats to help build internally. and bumble bizz. quinn tells us she sees it happening on clubhouse as well >> over the last 16 months

habits have been built up. it will be sticky after this pandemic when you think about it, digital networking will be something that stays around afterwards and has been an inflection point for people who wouldn't have tried networking otherwise >> invested $91 million in companies last year and invested almost as much so far this year according to pitch book. an even bigger adjacent business is virtual events. one company is valued at $5.5 billion. an investment in this category skyrocketed to half a billion last year. it's already nearly reached that same amount this year. so, kelly, certainly a space to watch. >> and, julia, it's good we're talking about this today as we're, again, reflecting on what the future of work will look like some of these tools can replace those kind of serendipitous office encounters, be right? some are meant kind of for

bringing people together who might already be working for the same company others introducing people with shared interests so it's not just tinder that can be a match making tool. my only question for a lot of this is if you look at innovation and how quickly big tech copies it, facebook launches audio rooms, for example, what keeps them from offering these features as a way to keep people on their platforms? >> well, look, we've seen facebook introduce so many tools. facebook does have a dating service. then you have a company like bumble which is primarily a dating service but a business matching service to match people with similar interests i think this is a space we'll see a plethora of options whether it's targeting tools to help companies generate more connections internally even if people aren't necessarily in the office at the same time or more tools for people to meet business contacts even if they're not in the same city i think we've seen a digital acceleration because of the

pandemic, and i don't think that will slow down or stop even as people go back to meeting people for lunch in person. >> i want to know what tyler's take is on all these ways to just kind of have that lunch meeting or run into people in the hallways >> i don't know. >> more hassle than it's worth sometimes. julia, thank you very much >> i will think about that all weekend. up next, our look at the red-hot summer of reopening continues. royal caribbean is the first cruise line, cruise ship, actually, to sail from an american port in more than 15 months seema live with more >> reporter: tyler, you can board a plane, check into a hotel. but for 15 months the cruise lines were prohibited from sailing from u.s. waters that changes tomorrow. we are onboard the "celebrity edge." what has changed and what hasn't and what richard fain told us outh b ment. we are back in two

all aboard, cruises are finally back royal caribbean's "celebrity edge" will be the first ship to set sail from an american port in 15 months seema mody is live with a look

>> reporter: it's not carnival or norwegian but "celebrity edge" will mark the debut -- or the return, i should say, of the $150 billion cruise industry we spoke with the ceo richard fain about how this historic moment feels it follows months of infighting with follows months of inspiking with the cdc. >> when i came on yesterday, i was greeted by one of our crew members. he said, you know, i feel like i've come home that vibe was throughout the ship we are so excite we've waited so long for this moment >> reporter: i spoke to a number of passengers who are ready to get back on board tomorrow about how they are feeling about this experience >> i retired two years ago this is what i wanted to do, sail and travel, and everything was put on hold. now it's finally opening up. >> this is 9 first cruise now, and with all the restrictions that have been placed on cruise lines, they're going to be very,

very cautious to make sure that things go right. >> reporter: with covid top of mind, the ships are equipped with a new cleaning program, a larger medical unit on deck two, which is outfitted -- fully staffed really with three doctors, two nurses, additional icu beds and ventilators, saying the goal is to isolate any passengers who do test positive to ensure an outbreak does not happen. >> seema, what is the experience of the passenger going to feel like how is it going to be different? for example, are meals going to be served buffet style, for which some cruise lines have been famous over the years >> reporter: the beloved buffet has changed slightly for example, when you go up to a plate, they will hand the plate to you then you tell the crew exactly what you would like to eat and they will serve you. that's the smaller changes you will experience on board

there's nor hand washing station, purel station literally every 10 to 20 feet, except for low occupiesy at this point. they're sailing at around 36% capacity to allow passengers to social distance and spread out richard fain telling me over time he hopes to add more passengers on board. >> they're doing that -- they're restricting capacity not because there isn't demand, but because they want to move in slowly, i suppose. that sounds very nice, actually. >> reporter: very important distinction you just made. yes, that is exactly right demand is there. the future bookings shows that, it's just as the sailings get added, they're hoping to get back to full capacity over time. in the meantime, allowing passengers to social distance. that is what cruise passengers want in the beginning. >> seema, thanks >> she's got to find a way to

stay on the boat i forgot it was leaving schori. new risks are emerging we're going to speak with a hotel ceo on how they're dealing thab srtages, rising prices and more, in just a moment don't go anywhere. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like..like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today. obsession has many names. this is ours. the lexus is. all in on the sport sedan. lease the 2021 is 300 for

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highest occupiesy levels in a year and a half. 68% of u.s. hotel rooms are being used mostly by leisure travelers who aren't booking very far in advance. jay stein is the ceo of the dream hotel group. it's great to have you here. congrats on the opening. tell us about the timing >> thank you very much yes, we've had a handful of hotels still closed in new york city the time opens today we're thrilled to have so many employees come back to work, and we welcome the first go auest at an hour ago. >> are you diversifying away from new york city do you have any concerns about its viability as a tourist destination for the next couple years?

>> look, new york is going to struggle a bit more that is some of the other cities, but a lot of urban cities will have issues going forward. we've got diversifying for a time weeping -- for the laos ten years we've been grow outside of new york. >> and you have a san francisco location where occupiesy is down the most, speaking to i guess what you're talking about with challenges in urban areas. tell me about tampa. >> we're not located in tampa, but we are located in south beach. that hotel is having the best year it's ever had we own a hotel in mendocino, and that is having the strongest year it's ever had

so let's ask about labor shortages, price challenges and so forth what is the top concern for you now on the supply side >> yeah. so labor really is the most difficult item we have, trying to get the employees we need to staff up the hotels on the room side of things most of the other items, supply side, we're not struggling in any serious way. we have some issues on some of the food items coming in, but where it's really affecting us is on the new hotels not only that we are building, but other people we work with, who are building hotels. they put our brand on, our management in, and we have about 20 of those deals that are up and coming those developers are having problems with supply side, certainly getting some of the materials for building

so i think you'll see some of those things become a little more neutral, but we'll see how it shakes out. >> jay, explain to me, whether with your properties are an owner, equity partner in the properties or merely a manager of the properties, as some hotel chains are >> for our group, it's all three. in the old days everything we owned we managed everything we managed we even. in the last ten years we've morphed more into a company and most of the new deals they put our brand and our management sometimes we do take some equity positions in some of those properties >> thank you, jay stein, of dream hotel group. >> thanks, guys. we're going to take one more look at the market blue chips are leading the way,

the s&p rising to another record virgin galactic taking off to fly passengers into space. i have one question for you -- would you rather go on a cruise or a space flight? >> neither. >> i'm with you. thanks for watching "power lunch," everybody. >> we'll end is on that note "closing bell" is right now. >> i would rather go on a cruise welcome back s records are being set against this friday afternoon. on pace for a record close let's have a look at what's driving the acts today nike the standout today.