you gave us a hell of a show we appreciate it thr thank you for your time. >> i appreciate your time. >> we hope you will be with us here tomorrow night for "the news" week nights at 7:00 eastern on cnbc. right now, let the games begin it is 5:00 a.m. in d.c the top five at 5:00 the white house weighing res restrictions on foreign travelers after the vaccinated and unvaccinated. we will show you how far this rally has really come retail traders robinhood shares double in days. lost in the mail the white house hosting a big electric car shin dig today.

apparently elon musk not invited. two big get out and travel stocks that you cannot afford to pass up here even with covid concerns we'll tell you all about it on thursday, all 5th. this is "worldwide exchange. good morning, good afternoon, good evening. welcome from wherever in the world you may be watching. i'm brian sullivan great to have you with us. let's jump right in. here is how your money and global markets are setting up the day. stock futures are higher not a lot. .10% dow up 62 points still higher this after the dow did lose 300 points in part because of the disappointing payroll number yesterday. the dow still 1% off the record

high and many tech stocks continuing to make new highs nearly every day in all of it, bond yields remain low. 10-year yield is under 1.2%. wow. keep an eye on crypto. all of the big ones are moving lower this morning look at that number. bitcoin, 38 and change hard to think bitcoin was above $60,000 a few months ago stuck in the mid-30s range come up off the low, but still if you bought in may, you are still under water. overseas trading in europe under way. like us, many of those markets just keep plowing higher some making new records every day. let's found out how we are looking with the rundown and key headlines from joumanna bercetche in london. joumanna >> brian, that's right another record high for the stoxx 600 today. positive session for the european index i want to start off with the

ftse 100 in the uk the bank of london coming up in a couple hours calling for an early end to asset purchases. something to watch for the macro investing community as it sets the tone for other central banks. cac and france up a percentage of a point germany is up .20% we had so many companies report. i'll bring you the highhighligh. adidas citing accelerating top line momentum the group reported weakness in china which is why it is trading down down 4 percentage points another stock, beyer with a 13% rise in quarterly sales. q2 earnings missed analysts

expectations another down day for bayer it has been going through legal issues with monsanto and green in the german index. german industrial giant siemans. and hiked guidance for the third time this year that stock is up 3.3%. the overall take away is the second quarter earnings were solid. the outlook into the second half of the year is looking solid strangely, we had negative pricing action, brian. that tells you about the market position going into the numbers. >> and maybe valuation many of the markets have done great. joumanna, thank you. here in the states, there could be some big new rules coming for overseas travelers looking to come to the united

states let's get more on that and othe headlines with bertha coombs brian, good to see you the biden administration is requiring all to be vaccinated citing comments from the unnamed white house official, the requirement would come as part of the administration's phased approach to easing travel restrictions into the u.s. no word on timing of the rollout just yet this coming as 12,000 people in florida have been hospitalized with covid and cases across the u.s. continue to spike real estate investment is buying mgm properties for $72 billion. that will make the casino owner the largest land owner on the las vegas strip. it will receive $4.4 billion in cash as part of the deal

all together, vici will gain 15 entertainment properties in that deal. and spirit airlines says it expects the ongoing cancellation crisis to ease starting today. this comes after the low-cost airline canceled another 60% of the flights yesterday amid the company calling ongoing quote overlapping operational challenges, bad weather and technology outages and staffing shortages. all began to manifest this past sunday spirit shares are down 30% since june, brian. they continue to see and make headlines for passengers fighting no wonder with so many problems. back over to you >> everybody needs to calm down. you are lucky to be on a plane and going somewhere. chill out. maybe have one fewer cocktail before you get on the plane.

bertha coombs, see you in a few minutes. thank you very much. all right. let's get back to the markets and your money because with our big run lately, something we will highlight more in the rbi with one big eye opening stat. there are growing concerns about valuations and with some of the big earnings beats we have seen, at least in certain parts of the market let's talk about that and what parts of the market your first guest today does like. joining us now advisers capital manager partner joanne feeney. from the macro perspective, is the market overvalued, under valued >> good morning, brian take your pick some of the stocks we like to buy are under valued but when you breakdown the market, you see a real dif dive divergence the reopening trade from the

fall of last year moved lower on the covid delta outbreak in india and europe and here in the u.s. if you look at how those have tracked, those have become a lot cheaper. as we potentially get this delta variant under control, those become an opportunity. overall, i would say the market first blush looks overvalued when you pick and chosose, you can find value look at high multiple stocks that did well last year. those are overvalue and worth staying away from. we see a phase two reopening coming after labor day we think there is good opportunity here whether a six flags or tj maxx that can go to the balanced strategy for income or more aggressive growth strategy it is tied to pick your places very carefully given the valuations >> okay.

tjx. parent company of tj maxx. it doesn't sound like, joanne, you are concerned about the consumer or new lockdowns? >> i don't think new lockdowns are in the future from what the medical professionals are saying some countries are using those here in the u.s., we have pandemic among the unvaccinated. a lot of the country is doing just fine with this. i would say that you can still find good bargains tj maxx is a treasure hunting operation. you want to go back in the stores to find your gems or great bargains there are other places to govego even the tech space. the move toward everything online toward electric vehicles

and greater automation this is pushing all of the data into the cloud we see a company like broad comm as a good company for growth and balance because it offers a nice divi dividend brian, after labor day, of folks coming back to the market and the extra unemployment benefits coming off, we see a third phase of reopening as the covid gets more under control around the world. we think this willtake time given the vaccine rollout is slower outside of the united states that third phase suggests that international stocks are an important place to be. we added some of those into our strategies whether it is a company like taiwan semi or a walmart mexico to pick up on the latin america recovery it is important to get

international exposure and participate in the phase three reopening as covid gets under control around the world >> the phase three should be globally emerging countries. those that don't have access to the earlier rvaccines do you sell u.s. companies to rotate into latin american names or asian names or is it specific stocks you have to find whether it is here or whether it is in mexico >> yeah. you know, you have to make room in the portfolio whether that is taking something off the table that's done well and the valuation has gotten steep. the way we do it, as you suggested, brian, company by company. we look for good companies with solid balance sheets and good growing end markets at a reasonable price we invested more in latin america whether it is a stone company or a walmart mexico. or china i know a lot of concerns of the

regulatory yakcrackdown. we added alibaba we added the growth risk we don't think the chinese government wants to kill the goose that lays the golden egg that company and baidou is the growth evengine in the chinese economy. we think those are cheap here. likely for china exposure you. >> a lot of investors hope the goose has been penned up in the yard very good stock picks from joanne feeney. thank you. there is so much left to do on this thursday when we come back, why robinhood can thank, well, itself when it comes to the recent stock market turn around. at least that stock.

the cloud computing company falling back to earth. the mystery chart. we'll show you who it is. two hot casino names that jeffries says to buy here. we will name names here. dow futures repuare up 87. we are back after this ntial. fly designed. undeniably versatile. unlimited 2% cash back. this is the card built for... ...real life. (dad) she's gonna be a drummer. (cashier) yeah she is. that's gonna get loud. (dad) right? (vo) the new wells fargo active cash visa credit card. unlimited 2% cash back on purchases. that's real life ready.

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kicking off obviously the big one. robinhood. shares surging for the second day in a row yesterday up more than 50% as investors piled into the stock less than a week since it's rather than less than debut 'hood is up 85% since the ipo which saw the stock sink 10% from the offering price. at the session high yesterday, the stock had a market cap more than $71 billion more than that of the new york stock exchange owner intercontinental exchange. all that for a company that charges nothing for its product. if it's free, you're the product. stock number two higher in the pre market electronic arts. the sales for the most recent quarter came in above the expectations the company raising guidance saying it is a strategic

position has never been stronger stock number three fastly down quickly in the pre-market that despite the smaller than expected second quarter loss fastly with a weaker outlook citing fallout from the june 8th o outage from reddit to twitch fastly down 20% in the pre-market like many other cloud players, that stock is a huge pandemic winner up 335% last year. the company has been the cloud sector's second biggest loser to date it is down nearly 50% since january. all right. on deck, elon musk's new biographer rihanna hits the big, big, big time. get the wallet out the out of the world cost of

"star wars" trending hotel the trending stories ahead our c? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. ♪♪ it was my dream to be an entrepreneur based upon the examples that i had growing up. and that was important for me because you can't be what you can't see. the ey entrepreneurs access network has a tremendous impact on my business and other african american and latino entrepreneurs across this country because they give access to networks, business opportunities and capital.

welcome back let's get a check of the other headlines and including what could be a busy hurricane season and what has been a year of extreme weather. frances rivera is in new york with that and more good morning, frances. >> good morning, brian we start with a tragic story in

texas. ten people were killed when a van crashed into the utility pole in encino 30 people were in the vehicle when it took a curb too quickly. the van designed to hold about 15 the 20 survivors have injuries from serious to critical. the national oceanic atmospheric administration says the rest of the 2021 atlantic hurricane season is going to be a busy one according to the noaa. the conditions remain predicted for above early season five classified as major and simone biles gave a boost to the primetime ratings 17.4 million viewers watched the star win bronze on the balance beam average primetime viewership across the platforms remain at 16.8 million nbc universal is the parent company of the network brian, the bump we saw considering the opening

ceremonies wasn't so great a bit of a bump. hope to continue with that in the final days >> yeah. the app is cool. if you have the app on roku. i want to watch archery. it finds it for you. they make it easy to do. cheap plug for parent company. frances rivera, thank you very much >> sure thing. >> by the way, go archery. let's get to the top trending stories a pricey stay in the star cruiser. the new face of the billionaire club bertha coombs, i feel like i'm selecting "jeopardy" categories. you go, david faber. our colleague did a great job. another plug >> he does a great job very good job indeed in the meantime, disney releasing new pricing details on

its star wars galaxy edge park a family of four and two-night stay on the entry level star cruiser sets you back $6,000 that does include food and immersive activities and valet parking. rihanna is now a billionaire. she has an estimated net worth of $1.7 billion. the second richest woman in entertainment behind oprah the valuation comes from the makeup and lingerie business empire fenty and savage. a new survey shows americans are willing to actually take a pay cut if it means they never have to go into the office again. survey showed 65% of american employees whose jobs can be done remotely would take a 5% pay cut to continue to work from home.

walter isaacson is penning a biography on elon musk he recently said musk is quote in some ways the steve jobs of our time musk tweeting late last night that followers should look out for the book if they are curious about tesla, spacex and quote general going on he may not be invited to the white house for the afternoon reported event on electric vehicles, but none of the other folks has walter isaacson penp penning a biography about them >> i took a trip in a non-tesla electric car and about what it was like to drive from vegas to san francisco. part of it aired and people are hitting me about tesla everybody knows what a tesla can

do elon musk has changed auto making >> he put them on the map. a hair brained idea people thought. now it is happening. if you are looking to buy a car now, you have to think, do i want electric or stick with combustible engine >> watch this piece i have coming out over the weekend. i was curious. i'm cheap plugging everything this morning bertha coombs, see you in a few minutes. thank you. plugging this. plugging that. hair plugs maybe ahead, insider buying making the glorious return after a month off due to earnings. the top five stocks that saw executives betting the most on their own companies including one red hot name in the news lately made the list that's coming up dow futures are up we're back right after this.

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dealing with delta in the delta. cases running high among the unvaccinated, but we have important new update from louisiana on the big recent run for vaccines good news this morning left out of the party. elon musk playing the world's smallest violin with the major electric car event at the white house today.

he wasn't invited. a work from home winner not winning for investors right now as they keep reopening and r re-eyeing the fall reopening trade. it is thursday this is "worldwide exchange" here on cnbc welcome or welcome back. i'm brian sullivan thank you very much for joining us here on "worldwide exchange." let's get to it. here is how your money and investments are halfway through the 5:00 a.m stock futures are higher up .20% on the s&p, dow and nasdaq we have breaking news on the markets one minute ago during the commercial break, a note from goldman sachs' chief economist. he is raising his s&p 500 price target to 4,700 from 4,300

goldman doing that moments ago that implies a 7% up side of the markets through the end of the year they raised the 2022 target to 4,900 to 4,600 i just threw loot at you it is 5:30 here is the headline goldman sachs more bullish on the stock market raising s&p 500 target to 4,700 from 4,300 they see another 7% up side. that note just crossing. good news. i think. your weekly insider buying report is back we layout the five companies showing the most buying of their own stock by insiders in the know as always, we count down five to one. also as always, our thanks to insiderscore.com for data. let's jump in after a few weeks

off due to data earnings season. eqt is stock number five ceo with the first buy buying $499,000. the fourth, glacier bancorp. the ceo buying $773,000. stock three, adm the ceo snapping up just under $1 million of the company. insider score notes it has a timely record of buying stock just before it goes up watch adm. number two, little company you might have heard something about on this network recently robinhood. look at that a board member buying $1.999 million at $38 a share meaning he has almost already

doubled his money in a couple days the most insider buying this week is a name we highlighted in the segment before crown castle cci. chairman buying $2.1 million of stock. that's his 11th insider buy of the company and he has put nearly $20 million of his own money in the cell phone tower company. eqt, glacier banc and adm and robinhood and crown castle the stocks we highlighted in the past have out performed the broader market. let's get back to the other top stories. bertha coombs now is back with those. bertha, what else is happening on thursday morning? >> brian, cvs stopped offering the j&j single dose covid-19

vaccine in pharmacies saying the shot is only now available in 10% of the retail vlocations. the comments to cnbc, they said they made the change, but will continue to offer the pfizer and moderna vaccines nationwide. i believe it is an issue of demand more people looking at mrna. ford and gm's parent stellantis will report that come 2030, 40% of the sales will be electric vehicles. the announcement during a white house event scheduled this afternoon. something the president has already teased on twitter and see detroit's big three calling for billions in assistance to meet aggressive targets. don't miss bpete buttigieg this

morning on "squawk box." and remember elon musk was not invited. and weber grills pricing the ipo of $17.9 million shares at $14 a piece. that is below the expected range. weber sales are set to trade on the new york stock exchange under the symbol webr. i can already see the headlines, brian, if it does well, people will say they were fired up. if it doesn't, people will say shares got grilled that's what we do. >> i was going to say those things i can't say them because you said them. you missed investors are fired up come on, bertha.

thank you very much. meantime, on the serious note covid continues to spread across parts of america it is hitting the unvaccinated the hardest. the south and california hit hard in the past month all states, louisiana, florida, georgia, texas, california seeing increases of more than 400% in one of the hardest hit states, louisiana, a lot of people still are not vaccinated. they account for 90% of all new covid cases. unfortunately, they also make up 84% of recent deaths and 90% of those who are currently hospitalized with covid are not vaccinated those stats from the state of louisiana on the week of july 22nd there is a lot of concern about louisiana's vaccination rate there is good news vaccine orders have popped in recent weeks joining us on the cnbc news line to talk about it is somebody you may remember from december

paul dickson jr. from morris & dickson. we were there in the warehouse back in early december with the first batch of vaccines distributed in the state it was an emotional moment paul, great to have you on the news line right now. you saw a huge up tick then a drop off. we were going back and forth the other day. what have you seen in vaccine orders in recent days and recent weeks? >> good morning, brian we've seen a huge, huge increase in the last three weeks. tripling by the day. very good to see louisiana up tick in vaccine so we can help crush the delta. >> can you give us some kind of context as to what those orders have done? have they gone up by 10% have they gone up by 50% >> sure.

to give rough ballpark we were doing 2,000 to 3,000 doses across the state several weeks ago. now we are doing 40,000 doses a week we are on track this week to do another 40,000 doses easily. ten times or more. >> wow i want to really highlight that for our audience because 2,000 to 30,000 or 40,000. these are exponential type jumps in vaccination orders. are you hearing from the hospitals you guys to a great job distributing to because this is due to fear of the variants >> yes, i think that is it louisiana has done a bunch of programs and other states as far as getting people to get evacuati vaccinations we did not see much up tick in that we had to take others from around the state because it wasn't being used. once the infection rates sky

rocketed like it is now, hospitals are at capacity. er beds at capacity. you are now seeing an up tick of vaccine. people are realizing the importance of the vaccine. >> yeah. this is good news across the state. we showed the good work you and your team are doing following the first batch of vaccines from your warehouse in shreveport to the other locations and cities it seems like this may last the next few weeks >> yeah. it is very hard to tell. seeing the drop off we had over the summer months was unexpected i think it will stay up as long as the hospitalization and infection rate stays up. it is hard to predict how long it will last

>> paul dickson jr. of morris & dickson. good news on vaccination up ticks. 2,000 to 30,000 or 40,000 in a week that is amazing stuff. thanks for joining us. >> thanks for having me. you're welcome think about that 2,000 to maybe 30,000 to 40,000. good news on the vaccine front coming up, a bullish bet on gaming stocks despite the rough first half of the year the name jefferies says you should think about ahead. and uber with a wider than expected second quarter loss bookings hit an all-time high in nearly $22 billion uber also warning about uncertainty from covid trajectory continuing to impact visibility by the way, the ceo is on

"squawk box" in the first on cnbc interview at 8:45 a.m i hope to ask about drivers. i was in san francisco i took ubers i asked how much are you making? uber fares were expensive. they were not making anymore money. maybe that will come up. who knows? stock number two etsy shares tanking after second quarter results topping forecasts, but fewer buyers. etsy expected a pandemic sales growth and issued guidance for the third quarter. stock number three roku shares are falling as user growth fell short. that reflecting the pandemic rolloff. we will rolloff to c aommercial break. we're back after this.

the personal loan from sofi helped me consolidate my credit card debt into one simple monthly payment. debt free! thanks to sofi. ♪♪ welcome back good thursday morning. mixed results from the two casino operators wynn with a expected second quarter loss and mgm with the most recent quarter. the big real estate deal to vici properties the stocks have been laggard year to date is it time for the turn arounds and g.o.a.t., get out and travel

stocks to turn around? we have david katz with us david, we could not find a seat at a black jack table. why have investors lost interes in the last few weeks? >> remember, brian the market looks forward we have seen the recoveries happen we are pricing in as though the recovery happens in 2022 and 2023 i think there are two questions. one is the sustainability of margins. i thought last night, mgm was particularly clear about the fact that the volumes have come back faster than some of the costs and margins have looked good investors have questioned if the sustainability will be there mgm went an extra mile to be clear over what margin they can

hang on to there is concern about the delta var variant. we recall a couple of years where initially we were expecting covid-19 to be a few weeks and the world had a cold and we go back to normal de-risking is part of what you are seeing the bar for this quarter, for stocks to report and go up, has been extremely high and complex. >> yeah, you got the new mask mandates that have come down for clark county, which is where las vegas is do you think and i don't want to get into political debates about masks. will it hurt bookings or tourism? >> i think it will not the best question i can answer is if it will hurt stocks. i think it won't, frankly. i think as you aptly pointing out in the opening, there is a high appetite to get out the volumes have been

extraordinarily visitations in vegas which is 17% below room rates are 6% above 2019 levels already i don't think it will hurt business frankly, i don't think it will hurt stocks. what we were talking about is what is your booking rate for '22 and '23. both companies are talking of booking pace and rates better for '22 than they were at any point. all time >> wow so, i know it's early, david it's been a couple of days since the mandate. i'm sure you are working the phones no indication there have been people cancelling their trips? >> we haven't -- it is really too soon quite frankly where we are focused is getting information from the colleagues in hong kong what we learned from the past

few days is macau has on the border again the entire island is going to be tested for covid within a couple days they are in a crisis mode yet again in macau management teams for wynn and m mgm talked about that. macau has been a challenge it is still 65% or 70% below 2019 levels in terms of revenue and visitation where and when does that end is a much bigger question for wynn and smaller question for mgm >> you have to watch macau and vegas. macau is a bigger property the names you are recommending to clients right now are >> mgm is a top pick for us. the theme across our coverage, hotels and leisure, you need

several reasons to work other than the recovery trade. in that regard, mgm has management team and board which has turned over. as you pointed out in the opening, they have a real estate sale of $4.4 billion coming in the door coming with $5 billion on the balance sheet now their momentum in the digital business has been huge frankly when you put all those together, we find several reasons why it should not be ten times evida. we expect to drive the stock higher and value higher. >> david katz of jefferies having been in las vegas, people are falling out of the doors it was that crowded. david, thank you on deck, your daily rbi.

a mind blowing stat on how big this recent market rally has really run if you haven't already, follow our podcast. you are getting out on the road to work, can't make the show every day. no worries check out the podcast every day. dow futures are up 80. we are back right after this

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so i did. it's okay, you can stare. when you're a two-time gold medalist, it comes with the territory. time for the morning rbi this is a quick hit on the markets. it speaks for itself into how incredible the recent rally has been if you are not paying attention, you should be. in september and october, we had volatile moments s&p fell 7% in september 7% in october. a lot of people got their obv engineer nervous. since october, the s&p has not

seen one drop of 5% or more, not one. we got close a little bit in may. fell about 4.4%. then buyers just stepped back in and kept this juggernaut market plugging on. higher highs and actually higher lows for stocks. in other words, we are going on not quite a year, but closing in on a tiny half correction. it is amazing. it is random and hopefully interesting. let's talk about that and the overall market's run in the nine months and where we go from here with victoria greene at g squared private wealth victoria, nine months without a 5% move down once. >> it is absolutely crazy, historical low volatility. i think that streak might come to a close in october.

in august and september, a weak season seasonal period. there are a lot of ducks lining up this market might look toppy and we should take some chips off the table. every now and then we have a down day, but now we have bad down days of 1% which really is not that bad i think when you look at it in historical context, this is amazing bull run we are up 100% off the lows of march 24th back in 2020. you have to step back and look at it and pause and say if you compare this bull market to bull markets in the past, 2009, 2002, start of the 1950s and start of the 1980s, this bull market has out paced the first 16 months of any other bull market. if you look at that context, we are getting nervous we may see a

rare correction which will occur which is normal to have happen >> wouldn't it be healthy, victoria you have bills to pay and kids to send to college you don't want the volatile moments down 15% in a matter of days and people lose trust in the stock market a healthy correction is not a bad thing. >> i look at it like a tea kettle letting off steam it is good to let off pressure at some point if this builds and builds, and earnings can't keep up and you are looking at overvaluation and concerns of the market overheating you want to see some of the healthy correction here which typically occurs this season august and september are typically rocky. i'm worried we're the price is right guy climb up the mountain. at some point that mountain will hurt >> especially with the wrong

price. the yodeller best game ever you still like ibm >> absolutely. a 4/6 dividend 100% turn around story spin around on track for the end the year they generate $10 billion in free cash flow it is ignored in the tech sector because it is a boring play. they are getting into the hybrid cloud and leader with ai watson. it is a great place to play defense if everything else is expensive and you are looking for something reasonable you think things would get rougher, this is a good stock to bunker in. i believer the growth prospect i believe in the turn around story. it is generating massive cash flow companies will pay for i.t. infrastructure they need to have that spending.

>> you have to squeeze another pick out of you. we have 30 seconds another name you like, please? >> i like chevron. i know oil and gas is looking di dicey. it is a great dividend we can't beat crowdstrike. i think everybody is nervous of rans ransomware that is the top pick in a great space. i think it will have some sharp drawdowns. it is a smaller stock. overall growth, they are cloud based and ai based company is a leader in where the market needs to go. >> we have two there chef vron chevron, crowdstrike victoria greene, thank you g squared. folks, that does it for us on "worldwide exchange. "squawk box" and the gang pick up the coverage next have a great day

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good morning stock futures pointing to gains at the open. we'll show you what's moving right now. uber shares slipping despite the second quarter profit. the company's core business showing signs of weakness. we'll have an interview with the ceo live plus, where robinhood is trading after a wild 48 hours that saw the stock rise more than 100%. it's thursday, august 5th, 2021. "squawk box" begins right now.

good morning welcome to "squawk box" here on cnbc i'm becky quick with andrew ross sorkin joe is out today we are watching the u.s. equity futures. a down day yesterday for the s&p and dow. dow was down 1% yesterday. it regained much of the decline with the gain of 99 points this morning. it did lose 324 points yesterday. a decline of close to 1% this morning, s&p is indicated up by 12 nasdaq up by 40. yesterday was the third of the fourth sessions that the dowwa down the dow transports and russell the nasdaq was up 19 points. we will continue to keep an eye on things this morning if you are watching th