it is 5:00 a.m. at cnbc global headquarters. here is the top five at 5:00 wall street at record watch as one sector looks to do something for the first time in 30 years. back on board. keying their support for the infrastructure deal after weekend backlash back to the office at least part-time one international bank out with the plan to bring people back to the office breaking with the wall street counterparts along the way. cloudy skies for boeing as regulators flag issues for what is becoming the most popular

long haul jet. call it a crypto winter. what one analyst at jpmorgan chase is saying about the near-term future for bitcoin it is monday, june 28th, 2021. you are watching "worldwide exchange" on cnbc. good morning i'm seema mody in for brian sullivan let's kickoff the monday morning. we look at stock futures we are looking slightly higher on this monday the dow basically flat s&p 500 up 5 and the nasdaq higher by 42points in pre-market trade. stocks are coming off a mixed session friday the s&p broke through the all-time high for the second day. up 14% this year for the best first half in two years. not to be outdone by transports. the sector up 20% year to date

on pace for the best first half since 1997 small caps up another 5% last week on pace for the longest monthly win streak on record going back to 1987. part of the move has to do with the bond market. let's look at the 10-year. 1.51% at this hour to the top stories ubs plans to allow up to 2/3 of the staff to mix working from home and at the office on a permanent basis. according to multiple reports, embracing a hybrid model is a stark difference with the u.s. counterparts wells fargo and jpmorgan chase ordered employees back to the office and china's strength as a

cyber power is undermined by poor security and weak intelligence analysis. as a result, u.s. is the only top tier cyber power uk and canada and israel were in the second tier. and goldman sachs is joining the transitory inflation camp. hatzius says it will likely remain firm for at least the next couple months or more it will eventually become a one-off disinflationary. the next guest says the rotation into growth likely persists joining me now is the founder and managing partner katie

stockton >> good morning. >> this is a sector that has strong revenue growth and in a part of the economy where the consumers and businesses are starting to spend more on technology products. so far this year, growth has underperformed in recent weeks, we have seen it bounce back. i wonder what you see accounts for the change in tone >> we upgraded technology and consumer discretion area with the feeling the resevversal has interim shelf life maybe two or three months. not convinced it will last beyond that. we did see a major reversal down favoring value over growth we have seen momentum shift in the short-term they are rising over the interim position that position is building wealth we have seen rotation back in

mega caps like amazon and microsoft. these names have exhibited outside leadership of late the nasdaq 100 index is up almost six weeks in a row now. we really have seen a shift in momentum behind the mega caps to drive the major indices. >> that is the next question is it going to be led by the big five amazon, apple and netflix of the world? or is there an opportunity to look at the smaller midcap names within technology? >> well, to the mega caps point, the breakouts are real we see good breakouts aside from amazon which we are all scrutinizing the price action. if amazon cleared the highs, that would be a major breakout for it something to watch as a nice positive catalyst. we already have seen a breakout

of net flick these breakouts suggest they continue upside leadership if you look at the measures of market participation, the cumulative advanced decline line for ny stocks, that is the trends the pull back we saw last week was an oversold that we have not seen since the may low the readings within long-term suggest we can see broad participation even when we are getting leadership from the mega caps >> broad participation what does that mean for industrials? >> we have seen pull backs in the cyclical sectors those are healthy.

it is hard to buy pull backs you see the loss of momentum the measures fell right into their short-term support zones in some cases, especially in fina financials, they pulled to break points i think you will see destabilization. energy may be out of favor crude oil has held up well within the commodity complex contrast it with lumber. it does look poised for consolidation. not a dramatic correction of the nature that lumber has seen. we are looking for the energy sector which has fallen out of favor as we get the growth rotation. >> we have not seen that yet interesting forecast katie, thank you for your time when we come back. we reveal the top concerns of global corporate leaders.

the latest out of florida following the apartment building collapse a live report ahead. why bitcoin enthusiasts could brace for a winter ahead wl llweilte you what that means here ahead on "worldwide exchange." so he used his american express business card, which offers spending power built for his business needs, to furnish a new exam room. the doctor will see you now. get the card built for business. by american express. i'm dad's greatest sandcastle - and greatest memory! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandcastle crumbles. you can't beat turkey hill memories.

talk to me. what do we got? when you have xfinity xfi, with blazing speed... [ screaming ] a powerful connection. that's another level. and ultimate control. power us up. you can do more than you ever thought possible.

yes! hold on. get a powerful and secure connection you can count on. only with xfinity xfi. and see f9 only in theaters. ♪ ♪ let's look at markets right now. the dow up fractionally on the day. nasdaq higher 37 apppoints after

the record high last week. nasdaq gainers it will be led by marvel technology and baidu and micron. still on deck. why the f9 blockbuster weekend is much more for the movie industry to get back on track. >> announcer: today's big number 52.9%. that's the drop in total worldwide ocean cruise revenue from 2019. according to cruise market watch. that's 13.9 million nuizanaled passengers carried roughly half pre-pandemic levels

dr. arnold t petsworth had an influx of new patients. so he used his american express business card, which offers spending power built for his business needs, to furnish a new exam room. the doctor will see you now. get the card built for business. by american express. ♪♪ it started with an idea... and became a new tradition. ♪♪ this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. this is lincoln financial. i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories.

welcome back cnbc is out with the latest global cfo council survey. revealing the top concerns kristina partsinevelos breaks down the concerns. good morning, kristina >> good morning. we talked about transitory, but inflation nation is a concern for cfos from the firms around the globe. our quarterly cnbc survey conducted this june, shows although covid risks are top of mind, but inflation is the next risk factor for the financial leaders. let's look at the stark contrast when inflation was not a

concern. now almost 20% of cfos are thinking about it. you see the yellow on the screen which shoots up. we surveyed from an array, but the discretionary sector will see the most considerably in the asian sector and it is time to show face as companies slowly return their work force, nearly half of all cfos, say they will be in-person heading into the second half of 2021 they will keep dishing out the dough. 61% will spend extra cash renovating existing workplaces 51% of cfos never expect company budget for employee travel to return to pre-pandemic levels. uber and car service and company shuttles

overall, because of the higher input cost, think of raw materials and labor. most say companies have to increase prices. and we come full circle because no wonder the cfos surveyed are worried about the raising costs of goods and because many are passing on to consumers. inflation is still top of mind s seema. >> clearly from the survey, it is a trend that will continue. kristina, thank you. now to a developing story this morning we are going to go to the news update from frances rivera >> good morning. just a few hours ago, the united states launched air strikes in the middle east. the pentagon says three targets in the strikes were weapon storage facilities

one in syria and two in iraq they were chosen because the facilities were used by iran-backed militias which conducted drone attacks on u.s. personnel. mr. biden did not respond to questions as he returned to camp david. extreme heat scalding the western united states. the olympic track and field trials in oregon were put on hold with track temperatures at 150 degrees. some athletes were taken off the field in wheelchairs. drivers, start your lawn mowers following an 18-month pandemic delay the races take place on various weekend from june to october

seema, those are your headlines. >> frances, thank you. turning to the box office. the latest film in "the fast and fur furious" grossed $70 million. highest opening weekend. the best weekend since 2019 "star wars." for my next guest, "f 9" is more than a movie paul it is great to see you why was it such a hit? >> i think it is the ultimate popcorn movie. some movies, you need to suspend disbelief. for this, you really have to do that people have been cooped up at home for over a year and not able to go out and enjoy the communal activities. going to a movie theater which is baked in our dna. to put it in perspective, about

a year ago, according to the com score data, 1,000 movie theaters were open in america now there are 4,600 which represents 80% of theaters when universal released the date from 2020 to 2021, they really picked a good date here. you have vaccinations increasing and people wanting to get out of the house. more theaters available. you had big movies released. "a quiet place 2" and "a conjuring. that led to momentum and people getting out of the house and watch the movie on the big screen that is good news for the industry that was sidelined for about a year >> they got the timing right i'm curious if you take a step back and look at demand for movies at the theaters

what is it like? is it less or more >> i would say about as good as you can hope for and even better if you were going to write up a blueprint for what the recovery has been for movie theaters, you go back to "godzilla vv kong. still doing well at the movie theater. there was an idea by many over the past few months that the movie theater would not recover. that having so much great content at home and it is great to have streaming services, but there is something about the communal movie theater that held the industry in good stead. we are looking forward to a lot

of movies on the horizon fourth of july is key. then after that, you have "black widow" and "top gun. a lot of great movies. hope to keep the momentum going going. >> given the success of "f9" and "a quiet place 2," means you can have success >> i think you will see a lot of studios rethinking strategy. a lot of studios moved to the streaming day and date nmodel. now they are looking at the theater release and maybe that is the way to go dynamic windows are here to stay shorter windows than the

traditional 90 days. that being said, people really want to go to the movie theater. not just in north america. we showed over $405 million banked worldwide for "furious. this is not just a north american phenomenon. this is a global play for studios. >> if the demand is so strong, at what point do they raise prices you see that booking air fare. >> people are price sensitive right now. obviously. there are these businesses like the movie theater and travel and others that are raising prices because of the big demand.

i think right now it keeps people coming into the theater it gives them a reason to come back it is a value added proposition. going to the movie theater, even prices do complain about sometimes is still a bargain for getting out of the house you get to go into outer space in "furious" for a few bucks >> i feel like going to the theater. i haven't been to one in 18 months paul, thank you for joining us >> thank you straight ahead from silicon valley to wall street. the eco friendly show to give retail investors a piece of the action. if you haven't already, follow our podcast if you miss "worldwide exchange" check us out on dct poasapps we'll be right back. and greate! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa.

well, that's the way the sandcastle crumbles. you can't beat turkey hill memories. i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support.

[ "me and you" by barry louis polisar ] osteo ♪ me and you justmin d singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪ ♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪

stocking getting set to close out a quarter for the record books as future is modest gains. and bracing for a cryptocurrency crash and a shakeup at the luxury brand. it is monday, june 28th, 2021. you are watching "worldwide exchange" on cnbc. if you are waking up, good

morning. i'm seema mody in for brian sullivan here is how stock futures are looking halfway through the 5:00 a.m. hour. modest gains for dow and s&p quick monday morning sector check. look at small caps on pace for the longest win streak since 1987 health care stocks coming off a record close communication services at the highest level since 2000 energy on pace for the largest winning pace and to the top morning stories. senator rob portman is prepared to move forward with the infrastructure deal after clarification from the white house that biden will sign the bill even if it does not come with a reconciliation package. the president said he refused to sign the deal unless the two

bills were delivered in tandem the fda is adding a warning to the pfizer vaccine. the benefit of covid-19 vaccination continues to outweigh the risks. direct to consumer shoe brand allbirds is tapping morgan stanley for an ipo the company has provided listing documents and is planning to go public as soon as september. to a developing story this morning in surfside, florida the site of the deadly apartment building collapse. five days after the event, the death toll rising to nine over the weekend. crews continue to go through the debris searching for the more than 150 people still missing.

we have jay gray outside miami beach. jay, good morning. >> reporter: seema, good morning. the frantic search started moments after the building fell to the ground. it only stopped once since that was yesterday as loved ones of those missing got the first look at the devastation up closely. crews are still pulling away pieces of the high-rise. >> picking up pieces of debris and allows for another round of the dogs that make the rounds that look for survivors and allow the paramedics embedded with the team and surgeons embedded with the teams to do their jobs >> reporter: a job that continues around the clock because these heroes understand time, like the elements, is an enemy. >> we heard taps we heard falling we heard twisting metal.

we hear sounds all the time. >> reporter: the norriega family hasn't heard from their grandmother since the collapse >> i fell to my knees realizing my grandmother was in the building >> reporter: they got a message. finding images and items from the apartment in the debris. >> it would be a miracle to bring her out alive. and my grandmother's soul is in heaven and i know she is with jesus. either way, she is good. we have found comfort in that. >> reporter: comfort or at least understanding is what dozens search for as they are allowed to look at the site sunday toys and messages of hope line the sidewalk a memorial of sorts to the far from the fence covered with pictures of the more than 150 still missing here a little more on the

investigation now. engineers and experts continue to focus on the bottom of the 13- 13- 13-story tower and the structural failure in the parking garage that could be the reason for the deadly collapse. >> jay, the effort is still officially a rescue mission from what i understand. do we have an indication of when it would switch to recovery? >> reporter: look,er everyone he wants to continue to hope, but they understand time is not on their side now we're starting to see more heavy equipment move in. that is a slow transition. no one wants to say we're officially moving to recovery. it will happen >> jay, we are hearing reports of a team of israelis to come in to assist first responders what can you tell us >> reporter: amazing group that

traveled over here to help with this recovery and rescue a team highly trained and has been in the type of situations before they got on the ground here and went straight to work. they will continue to do that for as long as they are needed here providing not only help on the ground, but help as far as experience and knowing how to handle this. it is amazing to see them interact with the crews on the ground >> they need the help. jay, thank you for your time jay gray back to markets here as we look at what's going on with bitcoin and the rest of the cryptocurrency bouncing higher this monday morning. bitcoin up 6% as cold water was thrown on the crowd. jpmorgan chase says the bitcoin problem is not a crackdown by china or elon musk's snarky tweets your next guest looks to take issue with that conclusion

michael casey is chief content officer at coindesk. michael, thank you for joining us today the volatility we have seen in the asset class. you say it is not stopping institutional investors from holding cryptocurrency why? >> hi, se eema. there are endowments and others who are looking and exploring the asset class for some time. the volatility is par for the course it is an unfortunate reality, if you like, of how something like bitcoin is introduced to the world and it will have the volatility you have a number of institutions that will continue to look at that and understand and figure out how to work it into their portfolios. that is what institutional traders and others are telling

it is important to look at what is happening on the broader investment side. the investment in the servicing industry you know, last week a $2.2 billion crypto fund. you are seeing a lot of corporate and institutional and mainstream money coming in broadly into the sector across different vehicles that ultimately supports it. >> we have seen division with ethereum and bitcoin with performance this year. i wonder why you think that is >> it is actually they do tend to move in lock step to a larger step there is a patent one leads and the other follows. ethereum is a different value proposition. it is not to be thought of as a competitor of bitcoin. a lot of people do think that

and a lot of people inside crypto think that. ethereum is a form the fuel. it is a commodity used to run the ethereum network understand, it is a smart contract system. bitcoin is thought of purely as an asset to hold and asset to use as a form of digital gold. it is quite separate the market tends to lump them together at the end of the day, they tend to have patents that move over time. >> it seems the regulation store continues to derail bit down 2015 with janet yellen or now with the u.s. or china cracking down as well when do countries able to craft policy around cryptocurrency so it is less of a risk where are we

>> it is still a long game not only because of the fact it is bitcoin which is one part of it there are others which see the emergence of stable coins. you have the decentralized exchanges which is challenging the exchanges. now a decentralized move with that defi feeds into it as well it is an ever fast moving and changing and highly innovative sector as a result, you will find governments everywhere i don't know we will ever get to the point that regulatory risks or the idea of uncertainty around regulation is going to go away it's an inherent part. >> the regulatory risk is something investors have to get used to with bitcoin and

cryptocurrency michael, thank you for your insight today. michael casey. coming up, your big money movers stocks looking to make a splash to start the week. plus, a cruise ship setting sail from the u.s. port for the first time in more than 15 months the future of the pandemic-plagued industry when "worldwide exchange" comes right back dr. arnold t petsworth had an influx of new patients. so he used his american express business card, which offers spending power built for his business needs,

to furnish a new exam room. the doctor will see you now. get the card built for business. by american express. i'm evie's best camper badge. but even i'm not as memorable as eating turkey hill chocolate chip cookie dough creamy premium ice cream and chasing fireflies. don't worry about me. i'm fine. you can't beat turkey hill memories.

i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. sofi is a one-stop shop for your finances designed to work better together. save, spend, borrow, invest, and earn cash back rewards, all in one app. that's how you get your money right with sofi. it is time for the big money

movers four stock stories boeing the faa is telling the company the updated version of the 777 jet likely won't be ready for certification until late 2023. the agency sent boeing a letter in may warning it may require more test flights. it noted a number of concerns. including problems with the software which abruptly pitched the plane without the pilot input during a test flight in december. tesla recalling 285,000 vehicles in china. the cruise control can be activated accidentally causing the cars to suddenly accelerate. the regulator says it covers model 3 and model y. tesla will fix the cruise control. j&j will pay $263 million to settle the opioid claims in new

york the trial is set to begin tomorrow j&j did not admit wrongdoing, but the settlement recalls for the company to stop selling the painkillers nationwide. burberry shares are falling in europe. margo is leaving to take on the same role in ferragamo burberry is down 6% in europe. turning to travel. cruise lines betting on when the cdc gives the green light. travelers will be ready to sail. royal caribbean sets sail over the weekend for the caribbea and mexico here is what royal caribbean's ceo told me about demand so far. >> we normally book months in advance. i see the untapped demand of people anxious to get back to sea. i see that as strong we are overwhelmed with people

calling. clearly want to get back and going to normalcy. >> with the first sailings expected to restrict the number of passengers, how could that impact the path to profitability? i'm joined by the managing director at web bush securities. i was on that ship on friday it is running at 40% capacity which we know needs to be higher for the ships to break even and be profitable. i wonder how quickly the cruise lines can add more passengers and still abide by cdc rules >> there is a dual path the industry will take to get back on the water ships like "celebrity edge" where the vast majority of passengers and 100% of the crew vaccinated in short order they will get back to 100%. as the industry standard, 100%

plus capacity. there are other ships where vaccinations are not required or do not surpass what is a 95% hurdle of vaccinations or capacity ramp will take somewhat longer i would expect by the end of the year and probably first quarter next year where things will get closer to what we would think of as normal ity in the cruise industry >> we spoke to a number of passengers which are eager to get on board they were more cautious on board. not partake in all activities. some would stay on the cruise for seven days not disembark and participaexcus does that mean the cruise line will make less money over time

>> in the interim. i think it will take time. i think people are going to slowly dip that initial toe in the water. i think over time, we will ultimately get back to how we used to live the cruise industry,if you remember, was ground zero of the pandemic there were fears that not only would you catch the virus on board, but that you would ultimately be stranded the industry has done a great job of hitting a lot of the fears head on and making passengers feel comfortable. it will not happen overnight sdplchovernight. >> what would you say is the top cruise line? >> royal has been our favorite for a number of reasons.

they had a lot of good momentum heading into the pandemic. they will have the best coming out. their balance sheets have also held upp better than the other two. they had to take on significant amounts of debt. royal is the least so. as we exit, the amount of leverage and delusion that shareholders are seeing is less at royal versus carnival. >> we will watch the first couple sailings to see if it is smooth sailing or choppy waters. james, thank you on deck, alliance is here with two esg picks that could be perfect for the environmental conscious investor if you haven't already, follow our podcast check us out on apple or spotify

or other podcast apps. we will be right back. the world is going hybrid. so, why not your cloud? a hybrid cloud with ibm helps bring all your clouds together. that means you can access all your data, modernize without rebuilding, and help keep things both open and secure. that's why businesses from retail to banking are going hybrid with the technology and expertise of ibm.

i'm dad's greatest sandcastle - and greatest memory! but even i'm not as memorable as eating turkey hill chocolate peanut butter cup ice cream with real cocoa. well, that's the way the sandcastle crumbles. you can't beat turkey hill memories.

to d.c. and the s.a.l.t. tax. states like new york and new jersey struggling for relief and the closer look at the numbers suggest the caps put in place by president trump are here to stay robert frank has that story. good morning, robert >> reporter: good morning, seema. high earners cheer the news that bernie sanders is supporting s.a.l.t. relief. the amount in the budget, $120 billion over five years is less than a third of the repeal of the s.a.l.t. tax he is talking about a partial repeal democrats were talking about a cap of $10,000 to maybe $20,000 or $25,000 now experts in d.c. tell me the focus has shifted to an income test that would eliminate the cap for those making less than

$400,000, but keep the full cap for those making more than $400,000 that answers the criticism of the repeal of the s.a.l.t. tax benefits the wealthy it creates a new income cliff. a new york payer with $399,000 of a taxable income if they earn $401,000, only $2,000 more, they would be subject to the cap and they have to pay $12,000 a year more in taxes. an income test could create because of that some strange incentives to keep reported income below $400,000. democrats from high tax states continue to press for a full repeal nothing is decided here. since most of the benefits of the full repeal go to the top

1%, it looks increasingly unlikely the cap will be eliminated more likely we get income test or perhaps increase in the cap seema. >> according to s.a.l.t. relief, how important or significant is it that bernie sanders is supporting this s.a.l.t. relief? how far are we from big changes to the tax code? we have talked about it for a while. when should we expect changes? >> it was important that bernie sanders included s.a.l.t. relief there were headlines that said bernie sanders supports s.a.l.t. elimination. everyone thought this was a sign that all of the members say they would not support any bill unless there was s.a.l.t. relief and gotten their way you dig into the numbers and it is a third of the total cost of repeal it is only partial i think, again, 57% of the benefit of the full repeal of

s.a.l.t. go to the top 1%. in today's democratic party, to see bernie sanders support any reform was big, but unlikely they support a full elimination. so much of that would just go to the top 1% >> important context there robert, thank you. have a great day stocks are coming off another positive week with the s&p 500 posting the best performance since february it is another busy week ahead as we round out the month and second quarter a host of economic data where reports on home prices and consumer confidence and manufacturing and hiring in the private sector and jobless claims and factory orders. it is all topped off by the non-farm payrolls on friday. we have valerie grant with us now. valerie, good morning to you >> good morning. >> i know you focus a lot on

esg. it is all the rage i want to start the conversation there. i was looking at the clean energy etf valerie, they are down 30% this year compare that to big oil and leading producers. they are up 45% on average the popular explanation is the demand equation. what is your take? >> my take is the renewable energy stocks are categorized at growth stock we know is there a selloff and many of the growth stocks not just in renewables and clean energy, but other sectors of the market as well i think some of this is related more to the factor exposure of investing in renewables. those should recover

in terms of oil prices energy prices have been up really as a function of the recovery and economy and the surge in demand. we know that there's a tight correlation with the energy stocks and underlining price of oil. that's what we have seen there whether that will persist, i think, is a different matter we know over the long term, the energy stocks have underperformed significantly >> highlight of the calendar is the jobs report friday over the weekend, senator pat toomey has been a lead of the fed's policy the fed is risking being behind the curve. do you agree >> in terms of the fed being behind the curve, meaning responding too late to inflationary pressure, i assume what you are implying. >> exactly >> i don't necessarily agree with that. i think much of the inflationary

pressure we are seeing is transient. we are confronting a challenging situation now with the reopening of the economy happening at a very uneven level. we have a lot of supply chain bottlenecks. we have a lot of shifts in demand and mismatch in demand and supply i think over time will likely abate. the one area that i think will persist in terms of inflation is wage inflation that is a consistent level of feedback i hear from ceos and cfos of companies. it is taking more to get companies back into the labor force. there were probably companies over earning who will have to make adjustments to the compensation and benefits to attract employees. >> i see that gm is one of your top picks in your portfolio. why is that? >> gm is an interesting company in terms of how they are looking at the future of the electronic

vehicles and leaning heavily into that in terms of the investing capital and way they are thinking of developing automobiles for the future that is one. secondly, they are focused on safety they have a very strong competitive position in the suv and crossover market which is the most profitable market in the automobile industry. several years ago, people would have counted gm out. they seem to have really gotten back up off the mat, so to speak, given their commitment to electronic vehicles. >> it is fascinating to see how gm is up 45% out performing tesla do you think that continues? >> we will see i think there is room for multiple players in the secular trend within the automobile industry you see strong performance from ford as well i think that companies that are

wise are investing heavily in the area tesla is more of a growth stock. i mentioned the growth stocks suffered recently. gm traditionally has value characteristic >> within technology where would you put your money >> within technology, we have a wide range of exposure to the large technology companies as well as software and services. one of our core holdings is paypal paypal really enables small and medium sized businesses to participate in the shift to electronic commerce. that's actually worked out well for us that's just an example of the holdings >> paypal down .50% in pre-market it had a strong year up 23% part of that has to do with bitcoin. valerie, we will leave the conversation there thank you for joining us valerie grant. the nasdaq is higher around

44 points on this monday morning. that does it for us on "worldwide exchange. anyofoema mody thk u r joining me "squawk box" is next [ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪

♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪

good morning wall street on record watch after the best week for stocks in months. we will she ow you what is movi. president biden back tracking walking back comments that links the infrastructure deal to a separate deal. focusing on social programs and climate change. "f9" paving the way for the summer box office. biggest opening weekend in north

america since the pandemic began. june 28th. is it jobs week? >> that's a good question. >> it is monday, june 28th, 2021. it's a monday. good morning welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkin. we start with the markets after the gains for stocks last week s&p notched the best week since february dow had its best week since march. the nasdaq had the best week since april. record close for the s&p if you check out the u.s. equity futures at this hour you will see at this point, there are green arrows dow futures up 10 points nasdaq indicated up by 37. let's look at what i