it is 5:00 a.m. at cnbc. here is your top five at 5:00. stocks looking to bounce back coming off a very rare down week futures, they are higher so what will be the driving force right now? bitcoin driving higher back above 50k as cryptos mount a comeback the fda reportedly ready to give pfizer's vaccine full approval could that drive a new round of shots? the afghanistan disaster, president biden changing course, saying the u.s. may stay in the country longer as more american troops are on the way.

and is the president's more than $3 trillion new spending plan now at risk members of his own party may start to back away it is monday, august 23rd. this is "worldwide exchange. well, good morning, good afternoon or good evening. and welcome from wherever in the world you might be watching. i'm brian sullivan thank you for joining us on this very busy monday to your monday money, futures, they are higher right now. not a lot, dow futures up just over 100 all markets up .2 to .3% the markets have been red hot. all major indexes but small caps are up in august the focus of the markets this week was going to be the federal reserve's jackson hole conference at the end. but now that event just went

virtual. some of the streeters saying it is not going to have the same firepower in the markets we're going to see again that will take place at the end of the week still, we areseeing markets higher right now what's not been higher is oil. it has been a disaster in august it is down 14% this month. it is up right now, 3.5% but, still, wee are at 64.22 one reason for oil's weakness is the u.s. dollar has been strong. in fact, it actually has been long dollar. one of this year's best trades and that hurts things like oil that are priced globally in dollars. so watching dollars. let's go now around the world, a strong start to the new trading week in asia major indexes there up 1% or more look at that japan, up nearly 2%, hong kong up more than 1% as well. a similar story, maybe not to the magnitude in europe. markets there also higher as

optimism over economic growth and central banks are helping power stocks there bottom line, folks, there is a lot of green on the screen, all around the world this monday morning in august. we have certainly got a lot to do on this busy monday so let us get right to it and hit some of your key headlines including what may be the first formal approval of a could covid vaccine yet. contessa brewer is here and has more on that and more. contessa, good morning >> good morning to you, brian. the fda is set to give approval to pfizer shots as soon as today. that's according to the new york times. it would become the first covid vaccine to go from emergency use authorization to full fda approval the times reports the timeline on full approval could slide past today as paper work and negotiations with that company continue the fda declined to comment on the report to cnbc shares of pfizer are higher on

that news as you can see, up 3% in extended trading. we're seeing an uptick in vaccinations in this country the white house revealed roughly 1 million shots this been administered saturday. it was the third consecutive day that milestone was hit and overseas, we have news from paypal, announcing it's launching its crypto service in the uk the company says it will let customers buy and sell starting this week. it marks the first international expansion of paypal's crypto product, which first launched in the u.s. last october. and vice president kamala harris kicked off her trip to southeast asia in singapore, announcing a new agreement with leaders there. harris and that country's prime minister unveiled new initiatives on supply chains, cybersecurity and climate and before leaving for the trip, the vice president told reporters she spoke with gm ceo mary barra on the global chip shortage and u.s. reliance on countries in that region for technology following her stop in singapore,

harris heads to vietnam later this week. brian? >> all right, contessa we'll see you in a few minutes thank you. that asia trip by the vice president coming as the biden administration continues to deal with the growing disaster in afghanistan. thousands of americans or those who allied with america remain stuck in the country and fearing for their lives. and now president biden back tracking and saying we may have to keep more troops there for longer, even as more american soldiers are on their way to afghanistan. nbc's jay gray joining us from d.c. with the very latest. jay? >> reporter: good morning, brian. and president biden continues to defend his decision to withdraw troops from afghanistan, while acknowledging that process has been, quote, hard and painful. this morning there is no indication it is going to get any easier there crowds and chaos continue to build outside the kabul airport. u.s. troops extending the so-called safe zone there.

>> the security environment is changing rapidly >> reporter: senior administration officials acknowledging there is now concern about possible terrorist threats targeting americans and afghan allies. >> the threat is real. it is acute. it is persistent and something we are focused on with every tool in our arsenal. >> reporter: the pace of evacuation flights has intensified. the white house says 11,000 people were evacuated during a 36-hour period of the weekend. 30,000 since the process started in july. but there are still tens of thousands on the ground desperate to get out the president acknowledging for the first time publicly that there have been discussions about sending in more u.s. troops and keeping them in the region past the end of the month deadline. >> there is discussions going on among us and the military about extending. >> reporter: as the situation at the airport continues to fall apart. and the state department memo obtained by nbc news indicates each time the gates are open at

the airport in kabul, around 150 unauthorized people get in so still a lot of chaos on the ground there. >> yeah, certainly is. jay, talk to us about the president asking or requiring american airlines to send their commercial -- united, american airlines, actual u.s. planes going to afghanistan to try to help this effort >> reporter: well, let's make it clear, brian, they're not actually heading into afghanistan, per se. there are 18 commercial airline jets that are now flying to what are those third party transfer point countries. they're going in and picking up a lot of the evacuees who have been transferred to a holding spot and bringing them to the u.s. that's likely going to continue for quite some time. >> got it. so that would be areas that are more friendly and safer in the region, for example? >> reporter: right >> all right, jay gray in washington jay, a big story there

we appreciate it thank you very much. all right now back to the markets and your money and just how strong stocks really have been check out this pretty amazing statistic the s&p 500 has now gone 200 sessions without a 5% pullback from a recent high does that sound impressive it should. it is the longest period it has done that since 2016 and it is only occurred eight times in the entire history of the s&p 500. so, does it signal maybe more money-making ahead let's bring in mark hafley at ubs global wealth management it is his stat we stole and put in the intro it is good to have you on the program. we have been talking about this lack of a pullback, but didn't realize in you gave us that, thank you, that it had been five years since we haveseen it

it is pretty cool, but does it matter to any kind of a future indicator? >> well, i think what matters is how strong the earnings are that underpin that. and, you know, right now we have got global growth at 17% nominal, when you include the real growth and the inflation and that bodes very well for continued earnings growth going forward. so, you know, we have got a return from orbit, because we're in the stratosphere of the exosphere now and there are questions about what that return looks like we think the inflation will come down, the growth will remain strong, and that's a great base for the s&p 500. >> so maybe buying begets buying, momentum begets momentum, there is a lot of tailwinds here for this market by the way, mark, you're global, not just here.

the european markets have been better than our markets. asia, very strong. is this truly kind of a global phenomena? >> the recovery has been global. i think one of the things we have been very focused on is following the reflation trade as it makes its way around the world. we started with asia we moved to the united states and we moved to europe and, you know, we had some wobbles with delta, but we're looking ahead, for example, towards japan, where they really haven't had the reopening yet. we think that is a market that can see up side as reflation takes hold there as well >> yeah, you mentioned that. a lot of concern about the delta variant or the lambda variant, whatever may be coming next, there is some positive developments in terms of data out of singapore, in terms of the vaccinated i put that on my social media. it doesn't sound like you and

your team are that worried about this recent rise in covid cases. and by the way some hospitalizations with regards to the economy, earnings, or the markets. why not? >> well, i think that, you know, if you look at where we are right now, first, know, if you look at the cdc data and the seven-year rolling average of percent of positive cases, for example, in the united states, that has actually started to roll over. it is just one early stat on the delta variant. but, you know, the situation we have like last week, i think we really had a case where people were worried that we were headed towards stagflation, where the growth would slow, but the inflation would stay strong. and then we had the fed minutes which are from now four weeks ago come out when the picture was better and sound hawkish i think that was a lot of factors that spooked people last week but, you know, we don't expect,

for example, that the fed is going to be as hawkish if, you know, the delta var yiant is slowing that growth or preventing the consumer confidence so there is a lot of forces counteracting each other here and i think if that inflation proves to be transitory as we believe, then the fed is going to have a lot of latitude to move very slowly with any tightening of their policy measures. >> is the market all about the fed right now, mark? is there other things that do it or really is it, by the way, the bank of japan, european central bank, if you had to rank the importance of central bank support for global equities, where would it fall right now? number one with a bullet in. >> number one is covid number two is, i think, the central bank support and number three is fiscal stimulus and you have to watch all three of those, and they play out in

different ways i think the central bank story is not just about the fed. i think the fed is by far setting the pace globally. but as we see some of these other central banks get a bit more hawkish, say, for example, in the uk, that could create an fx story and we would be looking for currencies that -- where the end of taper or the end of -- or potentially even rate hikes are are in the offing as a new story as we enter the back half of the year >> where is the best place to invest globally right now? the united states or somewhere else >> i would say the way we would frame it is reflation trade, that means financials, it means materials, and it means energy and then if -- for u.s. investors, i would say think about playing that reflation trade globally as i mentioned, towards japan.

>> mark hafley, big in japan and maybe getting bigger, if you are right. we appreciate you coming on and kicking off the week this morning. thank you very much. all right, when we come back on this very busy monday, your morning's big money movers, including bitcoin bounces back above 50k. and fed chair jay powell landing a key endorsement to this week's key fed event gets the all virtual treatment. and later on, the storm that battered new england as the northeast starts to dry out from henri. a very busy hour still ahead when "worldwide exchange" rolls on right after this. sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade.

it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today.

introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards.

welcome back time for your big money movers, the three key stock or money stories of the morning stock number one is a stock that is general motors and chevy bolt owners listen up gm is expanding its recall of the electric car, all due to a fire risk. the recall now includes every bolt model ever made and it is expected to cost gm an additional $1 billion to replace potentially defective batteries. number two, two stocks, uber and lyft a california judge rejecting a law that would have allowed them to treat their drivers as independent contractors rather than employees

uber, lyft and doordash and others spent more than 200 million to support proposition 22 that was a ballot measure last year that passed but a judge says it is unconstitutional in part because it unfarley hampers the ability of elected officials to set worker pay. and finally, it is not a stock, but it's bitcoin and look at bitcoin go bouncing back, back above 50,000, up 1500 now, 50,257. all those cryptos get some very new love from buyers cryptos all higher across the board. all right, on deck, your morning rbi. and what google reveals about the places in america that may be the most concerned about covid right now. and here's a hint, it may not be where you think. we're back right after this. today's big number, $672

billion. that's how much deal-making in the tech sector jumped to in the first half of the year, according to data from refinitive, a new rerdco, that's more than triple the same period in 2020. ntial. flawlessly 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.

tailor made or one size fits all? 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. with watson on a hybrid cloud they can use ai to help predict

client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you. at cdw, we get in a changing world, your employees need their data to go where they go. that's why we started tattooing it right on them. now they have permanent access. it was a good year. at cdw we can help you transform your data center it's gonna look so cool. - on-prem and in the cloud - with a dell technologies solution, so your data won't just be available, it'll be powerful. ah great, 'cause raven accidentally put last year's projections on my stomach for technology that moves you forward, trust dell technologies and it orchestration by cdw. all right, welcome back. let's get a check on this morning's other key headlines including some devastating flooding in tennessee leaving

more than 20 dead. phillip mena is in new york with that and more. good morning. >> good morning to you in tennessee, flash flooding turned tragic. the rushing water from a storm on saturday has been linked to at least 21 deaths and at least 20 more people still unaccounted for. most of the devastation hit the small town of waverly. that's about 75 miles west of nashville. the humphries county sheriff told our nashville affiliate that two of the victims appeared to be twin toddlers swept away from their father. the national guard and local emergency services are now working through back roads to assess the damage in search for the missing. the new england patriots helped out with another humanitarian mission the team plane was loaded up with supplies and volunteers to join the earthquake relief effort in haiti. saturday's shipment included food, medicine and equipment the flight also carried to the island er doctors, nurses and infrastructure specialists back in may, the patriots plane was used to deliver covid

vaccines to el salvador. and in baseball, an historic day for detroit tigers slugger miguel cabrera that sixth inning swing to the opposite field in toronto gave the former mvp his 500th career home run, making him the 28th big leaguer to achieve that feat cabrera is first player since david ortiz in 2015 to hit his 500th. also chasing his 3,000th career hit. he's just 45 shy of that mark. we're watching a future hall of famer in the twilight of his career, still racking up those accomplishments. brian? >> listen, detroit, the tigers, you got to have something to cheer for. congratulations to miguel cabrera. the guy seems like he's been playing since i was a teenager pretty amazing >> yeah, about 18 seasons now. something like that. he started when he was, like, 20 years old or something in that world series i think against the yankees in '03. he's been at it for a while. >> you were 6.

phillip mena, thank you. >> all right >> appreciate it, my friend. see you tomorrow. >> see you. still on deck, the desperate rush to get out of afghanistan as biden now asks u.s. airlines to send planes to the region to help get people out. and just the general knowledge, if you don't follow our podcast, available on all podcast platforms and it is called "worldwide exchange. a lot of green on the screen rear back after this

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.

every single day, we're all getting a little bit better. we're better cooks... better neighbors... hi. i've got this until you get back. better parents... and better friends. no! no! that's why comcast works around the clock constantly improving america's largest gig-speed broadband network. and just doubled the capacity here. how do things look on your end? -perfect! because we're building a better network every single day.

stock futures higher once again as the market looks to do something it has not done in five years in d.c., democrats desperate to get a $3 trillion social spending package passed, as some party members and the public start to push back the deal with the growing crisis in afghanistan and former fed heads throwing their weight behind jay powell to remain as chair of the fed, even as the central bank bails on its big event this week it is monday, august 23rd, this is "worldwide exchange" right here on cnbc

well, welcome, or welcome back, everybody. good monday morning i'm brian sullivan thank you for joining us on this monday morning that's a very monday thing that i just did why not? why don't we get right now to your monday money, he said stock futures, whatever flub i've got, they're looking strong dow futures up 131 or about .2%. all this rolling into a red hot market yeah, we were down a touch last week, but overall, the major averages, the big ones, everything but small caps actually, they're higher in august interesting chart. all right. also want to check the cryptos bitcoin climbing back above 50,000 we're seeing a lot of strength, ether, it is up 5% look at ripple and xrp, up 7%. a lot of momentum behind the cryptos as of late all right, that's here why don't we go around the world now and get a look at the early trade. in europe, which is also looking

very strong. look at that, 1%, almost 2%, green everywhere behind you, joumanna >> yeah. it is looking pretty good today, brian. this after a quite negative week for the stock 600 last week with the index down 1.5 percentage points today things have turned around. all the major boers trading nightly in the green pretty much in line for eurozone as a whole, still showing that business activity in the eurozone is very strong, not so much the case in the uk where the pmis did come slightly disappointing relative to expectations dragged down by the services sector but the reaction on the ftse 100 is limited you see the uk index is up .4% the stock is up 12 percentage points, some u.s. private equity firms started hovering around that name as well. something to keep an eye on.

a nice rebound in some luxury stocks today they got massively beaten down last week on some of the china stories emerging so that is also something investors are watching closely in europe. and xetra dax up a percentage point. we're watching the political polls closely with cdu, the center right party, angela merkel and center left party now neck and neck in the polls the elections are five weeks away keep an eye on how that one evolves. and just a very quick look at the sectors. the sector breakdown you see we have a couple of sectors trading in the red, but up at the top we have retail up 1.3% and nice rebound in oil you can see, after that big, big drawdown last week with commodity complex down 8%, 9%. >> yeah, joumanna, the u.s. dollar has been very strong and that hurts things like oil

priced in dollars. before i let you go, i want to turn to something you know by heart, basically, the country of your birth, that is the growing crisis in lebanon. i see your tweets about it, you talk about it. over the weekend, lebanon raising fuel prices, gasoline by more than 50%. literally overnight. what can you tell us about lebanon right now where the currency is effectively worthless and the country's economy is in just tremendously a sad state. >> yeah. you know, thanks for asking the question, brian. i think the context here is really important lebanon is going through a severe political and economic crisis the world bank has called this one of the worst economic crises since the 1850s, about 75% of the population currently living under the poverty line that's just to give you the context of what's going on this fuel shortage that you've been talking about was precipitated by the central bank announcing about a month ago that they do not have the funds

anymore to keep subsidizing fuel at the rates that they have been doing so for the past couple of decades or so. and so in the back of that, you saw a lot of hoarding behavior on the part of distributors, on the part of some of these filling gas stations, and this has led to massive turmoil in the space. you see miles long queues, people queueing up for hour on end to fill up their cars and the worst thing about it is that the black market rate that is being offered to the people who are filling up their cars is about six times the rate that is the official rate. and this wedge has led to massive issues, even to the extent that a week ago we saw about 20 people lose their lives because of fights that broke out around the gas stations. so it is a really precarious and very sad situation hopefully they'll come to some agreement soon, but it looks as though the subsidy price level will be lifted, whether it goes to market rates remains to be seen and the impact it is going to have on the economy, again, another massive question, brian.

>> yeah, you hear stories about people literally taking gym bags full of cash or if they have american dollars using that just to pay for something because tomorrow the value of the money may be cut in half, humanitarian and economic disaster there, thank you very much. now to some of this morning's top stories, state side, including jay powell, getting some support from one former fed chief for another term as the current fed chief, contessa brewer is back with more on that and more. contessa. >> so, brian, former fed chief and current treasury secretary janet yellen is apparently going to give her endorsement for powell to hold on to another term according to bloomberg, yellen told senior white house advisers she favors renominating powell whose current term ends in february the treasury secretary support would be a big boost for powell, because she's run the fed herself. the state department, by the

way, in other news, reportedly been hit by a cyberattack. in recent weeks we're told that the hack did not disrupt operations in any way. we're not getting a full picture of the extent of the breach and whether there are ongoing risks to any operations as state department spokesperson tells cnbc they can't discuss the nature or scope of the alleged cybersecurity incidents. and the pentagon is ordering u.s. commercial airlines to provide planes to help speed up evacuation efforts in afghanistan. those planes will not fly into kabul, instead used to transport evacuees from military bases or transit hubs in europe and the middle east. that order involves 18 aircraft total from american airlines, delta, united, atlas air, omni air, and hawaiian airlines brian? >> all right, contessa brewer,

thank you very much. now, to the growing crisis in afghanistan and concern in congress about whether it will hurt president biden's domestic agenda this as house democrats return to washington to try to push president biden's agenda forward, all with some growing divisions in the party itself. for more on all of this, bring it back to the markets, we bring in a cnbc contributor, jimmy, needless to say, afghanistan was not the disaster that the president and democrats in congress were hoping to see. >> absolutely not. this was a -- this was -- all the things you figure might go right or wrong over the coming year, this was not on the list i'll be honest this is why some of the moderates in the senate and the moderates in the house have been urging to move quickly on this infrastructure bill.

listen, you have a very narrow house majority, you have a complicated infrastructure bill and complicated social spending bill, two huge complicated bills you want to pass, really very, very quickly you know, you don't want something to go wrong. and now something is going wrong, and if that something results on all of the other sort of downside and human suffering, if that results in weakened support for biden, which endangers either of these bills, that is -- that has huge impact on the u.s. economy and the democrats' electoral chances in 2022 >> yeah, and that's why it matters from a political perspective. it is a humanitarian disaster. we have got to get americans and american allies out of there my friend's son, by the way in bahrain, on his way in the army, to afghanistan we're putting some troops there, god bless all of them, by the way. we hope for their safety what we forget is that this is

the narrowest congressional divide in modern american history. got to go back 150 years to find when the senate and the house were almost exactly split 50/50. literally senate is 50/50. house, a couple of votes there is no margin of error. do you think the moderate democrats will start flexing some of their power with regards to this $3 trillion social spending plan that the president and some more progressives want to pass? >> i think things are going to continue to proceed. as i think basically speaker pelosi wants, at least for the moment, which means this week, they'll move forward on the social spending bill i don't think the moderates will end up holding that up listen, the trump tax cuts with republicans basically agreed on, that took -- there is a lot of back and forth and it tack two

months, really to get that passed that's one bill. this is two bills, still stuff to be hashed out, with a president who right now his approval rate is declining we don't know what's going to happen in afghanistan. it could decline a lot more. and we are not close to the finish line with either of these bills. so i would still think they're going to happen, i think there is plenty of headline risk and real existential risk, i think, if this thing goes south >> well, nancy pelosi basically holding the who process hostage in a way saying we're not going to photo on the senate plan that just passed by the way until we know we're going to pass the larger $3 trillion spending plan that we just talked about, but yet there are moderate democrats, some from this area in new jersey, your area as well, who say we're not going it pass that unless you raise the cap on the deduction on state and local tasks, which, by the

way, is effectively a tax break for wealthy americans. i mean, how do you see this whole thing playing out? >> listen, the moderates, they're not going to do something that is going to endanger the infrastructure bill, which is something they definitely want to be talking about as they run for re-election. that's a good point. this bill is the social spending bill is going to have to be paid for. i think one way it is going to be paid for is it is not going to be a $3.5 trillion spending bill but there are real questions about that the corporate -- the corporate tax rate, that cap does get raised a bit, progressives aren't going to like but there are a tremendous amount of moving parts that need to be tacked down in a very short period of time, while the president's approval rating could be dropping. moderates are right. time really could be of the

essence to get all this stuff through. and right now it is not moving super fast >> yeah, i mean, not moving fast at all, jimmy. again, that salt deduction cap, which is key to a lot of ow our viewers in the northeast and wealthier higher tax areas as well, there is either going to be people putting their house seat on the line, which means that by the way the house may flip back to gop in 2022 or an internal fliight with nancy pelosi, all at a time when the president is being contradicted by his defense secretary and others who are leak internal information. the democrats, i'm not going to say they're in chaos, but it certainly is not where the party hoped to be just maybe even one month ago. all by the way with a backdrop of an american economy that is getting strong er by the week ad

makes it harder to sell larger spending packages because of a weak economy >> yeah, that last point is a good one, brian. what i've been saying. is that when we were talking about all this, when the economy was really in bad shape, we wanted to do infrastructure for the long-term and social spending for the long-term it also seemed like this would be an additional stimulus and a really bad economy now those gdp reports will be very good, they're good, they're going to be very good. great job report and it is going to seem as if do we really need to do this, should we be focused on the deficit now? one of many factors sort of slowly draining away, i think, a bit of momentum from these bills. i thought that was going to happen anyway. i didn't think the afghanistan thing would happen, which is another thing sort of eroding support for this and that salt cap, that is such a tough one for democrats. it just goes completely counter

to what democrats have been saying for the past four years about inequality, and having the wealthy americans pay more it is a really tricky issue. >> because that state and local tax deduction is as i said effectively if you raise the cap, by the way, in new jersey i know a lot of people are, that's effectively a tax break for wealthier americans who live in areas that pay high taxes that would benefit from the deduction. the next few weeks and months are going to be fascinating. jimmy p., always appreciate your views. m maybe you got our vote as a new host of "jeopardy" as a former champion like 15 children, you could use a side gig. >> for whatever reason, i'll take it, yes >> all right, jimmy. coming up, just when will it stop raining henri leaving parts of the northeast literally under water.

bill karins is here with more on when the all clear can be sounded. we're back right after thi if your money is working toward the same goals, why keep it in different places? sofi is a one-stop shop for your finances designed to work better together. spend with sofi and get cash back rewards that automatically go toward your goals. like investing in stocks, etfs, and crypto. that's better together. or pay down your sofi debt sooner. that's better together. and that's how sofi is helping millions get their money right. your doctor gives you a prescription. and that's how sofi is helping millions let's get you on some antibiotics right away. you could have it brought right to your door,

with free 1-to-2 day delivery from your local cvs... or same day if you need it sooner but at a time like this, aren't you glad you can also just swing by to pick it up? and get your questions answered. because peace of mind is something you just can't get in a cardboard box. that's healthier made easier. at cvs.

all right, welcome back. as many parts of america deal with continued drought, it just will not stop raining in the northeast. now, remains of hurricane henri continuing to dump more rain across the northeast as millions of americans now deal with

flooding let's get to meteorologist bill karins for the very latest on the storm's path and what was a soggy and remains by the way a soggy weekend in many parts of the northeast. >> yeah, amazing this storm may give more rainfall to areas like connecticut and rhode island than yesterday when the storm made landfall. this storm is pesky. didn't have the punch. it weakened before landfall. the winds were not an issue. we're down to only -- we're down less to 100,000 people without power right now, which is incredible for a land falling system in new england with densely populated areas. gray line on the map here shows the past path. like the storm is circling long island at this point, but refuses to go over long island the rain is rotating and spiraling around, and the storm is located over the catskill mountains of southern new york and all of that rain is circling through new york city once again. and it will eventually go all the way through new england. so we still have 33 million people in flood watches.

we have some rivers in new jersey that are in minor and moderate flood stage and we'll get rapid runoff nowhere else for the rain to go. it is so soggy, the ground can't take anymore new york city had over 7 inches of rain with this storm. the additional rainfall today, central park, another inch hartford, another inch of rain, areas of massachusetts could pick up an additional two inches of rain. this is on top of all the rain you already have seen. so the forecast from the national hurricane center does have the storm slowly drifting back through connecticut into massachusetts today. it should be near boston later on tonight and finally exiting stage right as we go throughout the day tomorrow so, once again, have that umbrella handy in areas of the northeast by noon today, very heavy rain headed through connecticut and by the evening rush hour, that heavy rain will be from hartford. we're not done with henri yet. by tomorrow morning, it will be gone. >> that's an important point you're making about the ground being saturated because looking

at historical data, i was looking for new jersey, i was saying it just will not stop raining. i don't mean this weekend, all summer long, in certain counties of new jersey, they're five and six inches above the annual average for rain this is true of connecticut and other parts. it is basically you got all this coming on ground, which is already completely saturated and rivers and runoffs which are already full the problem is there is nowhere for the water to go. >> yeah, central park is eight inches above their annual average now. we're on pace for a top ten heaviest annual rainfall in central park it has been widespread through the northeast. these downpours today will cause additional flash flooding, even if it is only an inch of rain. there is nowhere for it to go. >> eight inches above the average as well. it is amazing too because they would love out west to have just a little bit of this rain.

bill karins, we appreciate it. by the way, bill, thank you very much by the way before we let bill go, i want to say thanks i was driving east on i-80 from, you know, pittsburgh to stroudsburg yesterday or this weekend and i passed -- these are pictures i took, trying to keep all safety laws by the way, while driving, hundreds of utility trucks, pac power, res, many others i forgot to name, from missouri, indiana, ohio, colorado, all driving east to go to new jersey in the northeast to help out with the storm damage, bring our power back on. these are literally people leaving their families to go help out strangers and these are pictures i took and i just want to say thanks to everybody this is really a lot of negative stuff out there, this is america at its best. people driving thousands of miles in some cases to help out strangers, shoutout to all of

them all right, on deck, grace capitals is back to lay out the trading week ahead and stock names you may have never heard about before and your morning rbi, and the surprising spots that google shows people are the most concerned about covid right now. it is probably not where you think. catch cnbc's evolve live stream tomorrow with the ceo of kohl's and chewy you can still register at cnbcevents.com/evolve. we're back after this. 'm already a customer? oh, no problem. hey, cam...? ah, same deal! yeah, it's kind of our thing. huh, that's a great deal... what if i'm new to at&t? cam, can you...? hey... but what about for existing customers? same deal. it's the same deal. is he ok? it's not complicated. with at&t, everyone can ace back to school with our best deals on every smartphone - like the samsung galaxy z fold3 5g.

our clients come to us with complicated situations that occur in their lives. for them it's the biggest milestone, the biggest accomplishment, the sale of a business, or an important event for their family. for them, it's the first and only time. we have seen this literally thousands of times, in thousands of iterations. ♪ ♪ i am vince lumia, head of field management at morgan stanley. whether that's retirement, paying for their children's college education, or their son or daughter getting married, our financial advisors need to make sure that they are making objective decisions, every step along the way. every time you hit a milestone, an anniversary, a life event, the emotions will run high. making sure that you have somebody, a team of individuals that have seen it before, have seen every circumstance and seen every challenge, and have your back when you need it most, is one of the most valuable things a financial advisor could provide to a family.

i am vince lumia and we are morgan stanley. does your vitamin c last twenty-four hours? only nature's bounty does. immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other immune superstars. only from nature's bounty. it is time for today's most random but interesting thing and this morning it is all about the covid delta variant and your interest in it specifically. interest is high across much of the country for obvious reasons. but some areas have much more interest than others and we know that through google

search trends. in fact, searches for delta variant are very high in specific areas but what's interesting is that the areas really don't have a whole lot in common. here are the top five areas for the search as ranked by google number five, california, they had a big outbreak, that makes sense. followed closely by missouri, similar there as well. and arkansas look at vermont. vermont by the way, the most vaccinated big state in america, or big state, state in america with the second most searches as indexed by google for that but the most is our nation's capital. d.c., according to google, has the highest interest level, one reason maybe is that d.c. has had a huge jump in cases, up 1 1100% since july 1st the good news if there is any is that hospitalizations have not followed suit, down just about 70% since their peak on january

10th by the way, d.c.'s delta variant search indexing is nearly twice as high for the term as the state like wyoming, d.c., leading the nation there not in the way you want. random, but interesting. covid is on the minds of investors and the market as well the near concern that the roaring 20s boom could be dialed back, despite this, markets just keep making new highs. let's talk about all of this with kate fadis. kate, we had a stat which could have been our rbi earlier in the show that we have not had a 5% pullback in 200 sessions, which is the longest streak going back five years to what do you attribute this insane market strength >> brian, thank you for having me i think you have to conclude it is the fed the markets don't make sense because the fed has been pouring

money into the u.s. economy. there is also a lot of foreign money coming in, remember ten-year in germany, negative 50 basis points, equivalent rates in japan are negative.demand, a lot of money pouring in. we had three strong years in the ma market, despite covid and the gdp growth and the market roars up higher. >> are you worried about it? i mean, there has been no real indication yet, kate, that new pops and cases, air travel is booming, vegas is packed, restaurants are crowded, king of prussia mall, by the way, yesterday in pennsylvania, this is true, literally lines to get into stores, are you worried about the economic rebound >> i am very worried about the economic rebound and actually it is interesting, i've seen data that airline travel is not booming. it has come back but it is still down 65% this

year versus last year. which was down 65% versus the year before. asia, travel is down even lower. i am concerned about the airline stocks, the travel stocks and you've seen that they have given up a lot of the moves they had earlier on this year so i am concerned. so given that, there are some areas that i think are still interesting. for example, in the medical area, a lot of procedures that didn't happen last year are now happening this year. so you've seen companies like life sciences, merit medical, you've seen actually edwards was up -- revenues up 50% for the second quarter year on year. merit medical, would love to tell you more about that, those revenues up 20% year on year versus last year i'm betting on those companies where you have to use the service. you can't -- you can delay your procedure for only so long in terms of medical --

>> medical mmsi. another name, one thing we love about having you on, kate, you always bring a sense of realism, also names stocks that we never talk about otherwise and that's what's fun. learning about new companies mmsi kate, we're watching it. have a great day, great week we'll see you soon take care. >> thank you all right, you're very welcome. all right. and that does it for us here on "worldwide exchange" on a very busy monday. we're leaving you with a market with the dow futures up 140. europe is up, asia closed up, bitcoin closed higher back above 50,000 even oil is up this morning. quk"re welcome "saw and the gang are next we'll see you tomorrow how do plastic bottles turn into this? wm and repreve have given new life to over 20 billion plastic bottles. and we're just getting started.

see how recycling is one of the many ways wm is always working for a sustainable tomorrow at wm.com/stories. it's taken a lot to get to this moment. ♪ grew up at midnight - the maccabees ♪ dreams are on the line. you got this. refresh... it all, comes down, to this. ♪♪

good morning futures pointing to a higher opening and bitcoin passing the $50,000 mark for the first time in months. we'll show you what's moving along with these and a busy agenda this week with the fed's jackson hole symposium in focus and house democrats squaring off over trillions of dollars in spending squawk planner straight ahead. and hospitals in the south and midwest are sounding the alarm over rising hospitalization rates for kids with covid. we have the numbers, monday august 23rd, 2021, as "squawk box" begins right now. and good monday morning, everybody. welcome to "squawk box" here on cnbc i'm kelly evans with joe kernen, becky and andrew are off