investment for me. >> farmer jim? >> boeing. look at the way it brushed off that bad news earlier this week. >> dick's sporting goods academy, small competitor. bad quarter, but stock did well. >> stanley black and decker. >> i'll see you on "closing bell." "the exchange" is now. ♪ ♪ >> thank you, scott. welcome to "the exchange." i'm kelly evans. here's what's ahead. bad news might finally be bad news again, as initially jobless claims tick up for the third week in a row. yields falling, gold popping, and equities on the rise on fed pi vot hopes, and can stocks really hold up regardless if a recession is on the way? and household debt climbs yet again. we'll dig into the numbers and talk to one of the senators behind bipartisan legislation, aimed at helping americans deal

with rising costs. the ceo of royal caribbean reveals how the cruise line is able to maintain pricing power, and it's not just passing along all costs to customers first, though, the real news dom chu is back. >> i feel like i've been out of the office a couple weeks now, but you mentioned the recessionary narrative the stock market volatility index, the lowest level since february of 2020 >> oh, boy >> nobody expects a recession right now is what it comes down to certainly not the stock market, because like i said, that languishing level of stock market volatility means we are seeing a slight bend in the market that continues to grind a little higher. the dow up one half of 1%. the s&p 500, up 21 points. at the highs of the session, up 27, at the lows, down six.

so the nasdaq composite up 109 points so the more i guess relative advanced the nasdaq and the tech heavier trade. small caps ha been lagging of late large caps and small caps track each other pretty well just about the spring of this year, they diverged. all of a sudden, that small cap trade is catching up with the large-cap trade, as well so it's a dynamic that some traders are watching whether or not that small cap trade still has legs and if it can correlate from last year one of the things driving that is artificial intelligence, on the heels of adobe announcing it will make its firefly available to customers

adobe, up about 5% some of the other names we talk about here in the ai ecosystem, catching a bid on some of that news, as well. and then a quick check on the original stock, the og, that's gamestop shares down about 17%. that's well off the session lows right now, so we did get a few percentage lows off those low levels ryan cohen is now the new executive chairman be you that move in gamestop, the volatility is back, but maybe not in a good way for shares of gamestop >> what did you say was the vix, comp, the fed up 2020? >> it's february of 2020, and we all remembered what happened in march of 2020. >> yes, we do. thank you. new numbers from the fed show americans carrying more debt and putting a lot of money into money market funds.

steve liesman has all of the details. hi, steve. >> kelly, i think the interpretation is this, for why the economy keeps defying recession fears, look at the fed's flow of funds report just out. household network was up by $3 trillion, driven by equity what you see here is there were declines in real estate value, down by $600, but more than made up by the $2.4 trillion in the increase debt up by 2.2%. the equity that homeowners have in their houses declined for the third straight quarter, but it remains barely above the prepandemic level, showing homeowners have round tripped their gabs -- their gains.

so jobless claims, we have to watch it it's just one week's worth of data, but it's been strong employment and equity gains that have kept the economy from that much forecast recession. we'll have to see if this is the beginning of the long-awaited softening of the job market. >> we will have to see i don't know which rabbit hole to go down, because we will dwell on all the data in a moment maybe i should ask you about household net worth. i thought it was interesting, it sounds like interest income for the first time in a while contributed to an increase in net worth. >> i think that's a piece of it, too. what is more interesting, kelly, you turn it around on -- we're going to have gains, i suspect, in the second quarter, as well then we talked yesterday about thisissue of those gains and

stocks in ai so does the fed need to lean fwens that down the road you have money in your equity, your raises have not been too bad. so people still seem to have money in their pocket. >> steve, thank you. our steve liesman. let's break down the report a little further in terms oh of what is going on with the american household net worth, still ticking up. at the same time, americans are paying record interest rates on credit loans and rates on home equity lines of credit are the highest since march of 2001. let's talk about this with ted rothman. good to have you here. >> thank you for having me >> is this a matter of playing catchup? is it still so give it a quarter or two and we'll see the impact? >> all news is local, not

geographically, but do you have credit card debt or not? those rates, they're at record highs, over 20%. basically, half of card holders have that debt that's easy to get into, hard to get out of c i think prices have gone up so much that yes, rates are up too, but the typical new car now costs about $50,000. we're talking $800 a month payments a lot of people can't swing that, especially if they have lesser credit or lower income. >> and wealth overall is boosted by equity prices so is this a case where, you know, people are going to feel the brunt of this as their excess savings from the pandemic run out? >> i think so. lower and middle income levels,

that's pretty much gone already. so that's another example of the k-shaped economy only 6 in 10 americans own stocks slightly more own their homes. wealth concentration is becoming more and more upper income levels i think that inequality is something to watch when we think about credit card burdens, car loan burdens, student loans, those payments are set to resume. that's another $400 a montana. th -- $400 a month. >> so how would you describe -- to me, it's interesting to go back to 2008 and say, you know, we kind of turned into a recession back then quickly, because households were very overleveraged. a lot of people borrowed on these crazy mortgages. when that turned, they got under water very quickly

is it going to be different this time >> there are some positives. a lot of households are in good shape. we're talking a lot about normalization, as in back to 2019-ish levels of delinquencies. the household debt-to-income ratio is still pretty low. i think a lot of that speaks to the strength of the job market that's the biggest indicator i would watch, in terms of people being able to keep one the bills or not doesn't feel great, because even though unemployment is low, wage growth has been good but at least most people are keeping up >> if that starts to shake a little bit -- >> i think at this point, it's just the higher income folks we have to think too about how wage growth has been stronger among lower income households, because the minimum wage has gone up, but it's been a job

seeker's market. especially if that reverses. more people are financing daily necessities. i think that's a problem >> more people that you have seen historically? >> that's right. we have seen a noticeable uptick we see it with buy now, pay later. people financing gas, groceries, everyday stuff 60% of credit card debtors, that's up 10 percentage points in the past year, something to watch, too >> ted, thank you for running us through it all speaking of costly credit cards, the fees charged by card networks are putting an increased strain on businesses it's prompted lawmakers to propose a bill to curb credit card fees. join me is senator peter welch of vermont senator, welcome

>> thank you >> what exactly does this bill aim to do? >> to really save money for the merchants are getting, in my view, ripped off by the visa/mast ercard duopoly if you spend $100, the merchant only gets $97. these fees are one of the biggest expenses, and it's rough on our small businesses and all of our communities and in the united states, it's the only country where we have no regulation on how much those fees can be. and visa, mastercard charge in thei the united states about ten times the fee that is charged in the european union and other countries in the world brutal costs on our small

businesses and no bargaining power. our bill introduces competition. it would say there has to be at least two processing terminals so that the merchant would be able to make a choice and pick which processing device they use, if they can get a better bargain from another competitor. no competition we want to introtus competition into this arrangement. >> although the bagel shop or hair salon might say that's two card processing events, and this is not fixed all of us consumers have noticed when we are at visa establishments, the surcharge for those card networks is being passed along we're all getting 3% extra every time i use a credit card the reason i don't use a credit card is because of the fraud protection

>> the fraud protection has been enhanceder -- enhanced e enormously, especially with the chip cards the bottom line here is, most of us consumers, it doesn't affect us, because we pay our credit card, there's no cost to us. but that small-town merchant, the local grocery store, that exp expense, 2%, 3%, that is often their second highest business expense. inflation is good for visa and mastercard it's not as though they have additional expenses when you spend $100 or $10, it's the same

electronic processing. the bottom line here is, why should our merchants pay absolutely the highest credit card transaction fees in the world, about ten times higher than europe? that's not fair or right, and sit a function of their being no competition in the area. capitalism, you know, we're supposed to have competition that's the heart of our bipartisan bill, it restores competition. >> ironically, crypto wanted to fix this one of the things they wanted to do was sup plant these expensive net works, but that didn't go very far part of the reason is that it seems to be high barriers to entry. even your approach of acquiring two different operators wouldn't that enshine the fact that there is only four now if you required them to have six, that would be different,

but that would be impractical. >> if you're that bagel shop and you have the opportunity to get the transition network that will be 1% inted of 2%, 3%, you're going to take it it's totally take it or leave it and visa/mastercard, they make a lot of money in europe but in europe, the amount that they can charge is capped at 0.3 of a penny so they do fine there, bottom line is competition. we have to be supportive of our small businesses in particular, because they add so much to the vitality of all of our communities, especially in rural america. but folks, they work really hard, they face competition. they have to deal with the reality of competition v visa can just impose whatever terms they want.

>> senator, they denied it, but china and cuber it's been reported for them to establish a secret agreement to install an eavesdropping device on that island so how can we not have chills and recollections oh of the cold war era all over again >> i'm concerned about it, and i don't know about it. i just read that report that you referred but in reality, everybody has listening devices everywhere so we have to be on alert but we can take preparations to protect ourselves. what i'm alarmed at is the chinese presence in cuba, reach going latin america. so part of us effort to protect against chinese encroachment has to include us having our own positive relationships with

latin america. >> senator, thank you for your time appreciate it. >> thank you >> senator peter welch of vermont. coming up, if all the signs of a slowdown here, why are many storks and pundits shrugging it off. plus, hundreds of lights are delayed, and smoke from wildfires in canada spreads. here is a glimpxse at the market the has up only 1% we're back after this.

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♪ ♪ welcome back to "the exchange." some big news on the economy this morning new jobless claims, a leading gauge for the labor market, jumped to the highest level since late 2021. that sent yields tumbling, and it shows that the economy is following a textbook description of a looming downturn. housing peaked in late 2020. new and existing home sales have fallen 35% from their peak activity levels that year. then, manufacturers new orders topped out in june of last year. industrial production peaked

about three months later a key financial market of a recession popped up. 10s and 2s consistently inverted, and the three-month followed suit around october this off signals a recession will start within a year or so markets are widely expecting the fed to pause at its meeting next week the latest reading showing a 63% chance of a hike in july let's ask my next guests how they are positioning david be -- david, welcome to you both i sense you might take issue with my bearishness perhaps. what would you point be on the market >> as i was listening to you describe some of those factors, some of them i don't view as negatives.

housing correcting to a place of affordability and reasonability i think is a positive thing for the economy, not negative. but i agree that often times, though not always, the inverted yield curve indicates, it doesn't cause a recession, it indicates a recession to come. but there are plenty of false alarms that have happened throughout history i believe that we have a greater chance than not of going into a recession, but i strongly suspect it ends up being a mild one, like in 2002 where the job losses were limited to one sector, that being technology, which was way overhired and frankly overpaid i wouldn't say i'm bullish on the economy, but we have to have a little humility here that the jobs data, and even the way credit spreads have responded to this brutal tightening from the fed, it hasn't been that bad yet, and i am open to a number of different outcomes that can

come from here >> that 2001 recession was only about six months long and not very deep at all of course, it had 9/11 towards the end of that. david, i'm curious, the narrative forming seems to be, well, even iffer going into a recession, maybe the market has priced it in is that a historical or ration nat possibility right now? >> the market has been signaling there is going to be a recession for the better part of a year. we have to look at the degree to which, you know, companies have taken action they reduced their cap x, as many costs as they can so i think what we are missing in all of this, this is a rolling recession. you have hit upon areas of the economy where the recession is well underway. when a recession is well underway, inventories are coming down, whether it's houses, manufactured goods all of those are coming down and inflation is

coming down, so the fed's actions have had beneficial impact on inflation. so what investors need to do is think about where they want to position portfolios in 2024. we found several areas non-u.s. shares and perhaps the most important thing that investors can do is to move from cash, which is yielding 5% if you buy a t-bill and buy intermediary debt to maintain higher rates longer, and why they should do that is if inflation comes down in 2024, say from 4% to 2.5%, they can maintain a real yield of 2% to 30% relatively easy, which is not something that is available to a typical investor. so there is a lot for people to do, and a lot of people are frozen because of the recession and are now looking at the

opportunity to build better port portfolios >> credit area, this is a place to look right now. so david, where are you looking tactically >> we're -- within dividend growth, we did super well with consumer staples, as the pricing power dynamic played out, as it normally does. right now, i believed that financials got way oversold. some of the asset managers, some of the more rate sensitive alternative managers even with -- much like post dodd frank, a lot of the reorganization of our capital marketing led to certain opportunities. a lot less lending will get done by regional banks a and a lot more will get done in private credit

so we have been looking at blue owl, blackstone. we think there is a great opportunity here, and some are looking at it as overdone, but we think it represents a paradigm shift how credit is extended in our country. >> that's what liz burton from goldman was telling tus other day. gentlemen, thank you very much for your time today. one engine of job growth that is still going strong, small businesses they have made up the lion's share of the hiring since the pandemic and still struggling to find workers kate rogers has the details. >> aside from lending troubles, inflation, and supply chain issues, the lack of workers is keeping small business owners in may. 44% had openings they couldn't film

>> we're on the precipice of having opportunities for growth. and can i staff it i'm trying to get to the next level, which would allow us to stabilize our revenues >> another sector it's being felt is retail owners say that they're operating short staffed and workers have shifted their expectations post pandemic >> it's just been hard to balance the expectations of the team and the needs of the business and the needs on both sides, and then also the expectations of the customers, because, you know, we're having to close early because we don't have enough people >> some owners are slowly pulling back on hiring job creation plans have slowed over the last year as owners await this potential recession so a few different issues. >> there's been a big

construction boom going on because of the "inflation reduction act," because immigration, is that usually one way people fill these holes? >> yeah. so the natural rurestaurant association says that's a huge part in filling those roles. there's one application for every two open jobs, with the expectation another 500,000 jobs will be added by the year's end. 80% of restaurant operators have open positions right now they say that's just one piece of the puzzle. the restaurant industry really could use that reform to fill those open roles >> kate, thank you still ahead, smoke blanketing the northeast, disrupting hundreds of flights across the country more than 1700 delays, and nearly 1,000 cancellations so far. we'll look at who is most

affected and the fallout on insurers "the exchange" is back after this

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welcome back to "the exchange," everybody i'm tyler mathsen with your cnbc news update. the supreme court through out a district map in alabama today. the high court kreeed that the map discriminated against black voters and favored republicans it will now need to be retraun as ukraine launches its counteroffensive against russia, new images show the extent of flooding caused by a dam breach. this shows homes and farm lland

no official cause of the collapse has been announced. and the smithsonian national zoo in washington, d.c. closed because of the hazardous air quality due to canadian wildfires. new york city's four zoos and aquarium also announced closures after shutting down early wednesday. and the white house canceled a scheduled pride event on the south lawn because of the smoke. kelly, back to you >> tyler, thank you so much. coming up, more on the fallout from canada's wildfires. target saying they could -- from airlines to insurers, we'll look at the companies most impacted so far

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welcome back to "the exchange." major east coast cities from boston to washington, there's new york city, impacted by the smoke coming from those canadian wildfires. 120 million people are currently under air quality warnings the haze is delaying thousands of flights, thanks to faa pauses for more, let's bring in leslie joseph, the airline reporter for

cnbc.com with michael boyd, president and ceo of the boyd group international. leslie, put this in context. i don't know what the comps are, natural disasters and the like, how big a deal has the stoppage been >> so it hasn't been this big a deal than say a hurricane or even a blizzard. we all remember chris 2022, where we saw tens of thousands of like that. it's not that bad, but it is unusual for the new york a norml with forest fires like this. >> and a lot of people trying to get in might be coming in for events that no longer exist. >> there are other parts of the country having weather issues. there was a ground stop at ft. lauderdale earlier this is late spring, so there is weather cropping up. but this is close to 2,000 delays across the country, and hundreds at laguardia, newark, and down to charlotte. >> michael boyd, what is your

take on this such an unusual event. it felt like it came out of nowhere. >> well, it did. somebody burning something in alberta hits manhattan this is like a weather event, we have to deal wit we have an air traffic control system that is a little more behind the curve than it should be and the abundance of caution will happen. but if you have 40 flights delayed out of laguardia, that effects the entire industry, because that southwest airplane can't get out. it snowballs what we are getting from canada is affecting all of us >> not to get on a tan gent on air traffic control, but this is something that you have been working on consulting with airlines and trying to modernize. when is it going to happen >> well, nothing has happened

since 1994 it's a bureaucracy the people inside the faa are good people, trying to work through this but, again, there's been no leadership, and there's been no vision and we've got to blast it out of that, because it's costing our nation a lot of money and economic impact. it's a critical situation that's not being addressed properly >> we know that there were meetings of industry leaders months ago to solve the issue. there have been some close mishaps with jets and the airports i mean, how much better would the experience be for all of us, whether it's -- if we were able to modernize things the way they ought to be? >> it would be severely better, to be blunt. airlines, it's their production line that's being affected by air traffic control. and some of their production line needs to be fixed, as well. overall, it's a major probably tens of billions hit to the u.s. economy, because we don't have a

freely operating air transportation system. airlines do have some of that responsibility, by the way >> leslie, we're hope thing clears up in the next couple of days, but it could be weeks before the air is clear, and a lot of people are canceling events to be super safe because they don't want liability. we heard that emergency room visits in new york spiked yesterday. what are the implications that this carries on? it's a saturday, sunday, even next weekend >> the thing with airline delays is they cascade. so like mike was saying, you know, that southwest plane can't get down to florida or move to its next destination, and it snowballs. so that is an issue. we saw it with sporting events, that's being canceled. those are big draws to new york city broadway shows, things like that it's always that thing you're not expecting with aviation. >> i guess the last question, mike, maybe this is a dumb

question or maybe it's just changed in the wake of covid, but if i'm on a night, am guying to be breathing in smoke or do they have these air filtration systems to take care of that >> oh, no, it's definitely like an operating room today, except there's no sick people on it so it's safer on the airplane than in the lounge at laguardia. >> thank you both so much. as the east coast deals with the haze from the canada wildfires, the west coast is prepping for their wildfire season state farm and allstate have stopped writing policies in california because of wildfires causing construction risk and rebuilding is more expensive than other let's get to contessa brewer with more on that story. >> there's a lot of factors that go into that but insurers and reinsurers are trying to reduce their exposure to wildfires they did eye noun no new policies in california, where eight of the ten costliest wildfires across the globe

happened chub and aig already largely left the state industry experts predict more will leave unless tape regulators grapple with the market where insurers are not permitted to cover enough to cover losses insurers are bracing for the wildfires, but scientists have confirmed that el nino is back, resulting in hotter, drier weather in the u.s. and canada and the forecast from the national interagency fire says that they're seeing elevated potential in the pacific northwest. look at washington state for june and july around the great lakes, upstate new york and northern new england these are all places we are not used to talking about. massive threats of wildfires and then you see in the green, there is a lower potential for wildfires in california, at least in june and july, because of all of that lush greenery from record setting rainfall in the spring watch out for august and

september. if all of that foliage dries, it ends up as fuel for wildfires. we see these regulatory hurdles that are present in california, they're definite hi present in florida, washington state, louisiana, texas, new york, new jersey and insurance brokerage a.j. gallagher told me that soaring inflation, those reinsurance rates and climate risk combine into a massive hurdle in all 50 states as far as the smoke goes, we could see travel insurance kicking in for the flight discorruptions that leslie was talking about, and smoke damage claims are already coming in >> wow contessa, thank you very much. we have a news alert on that reported u.s. deal with iran that sent oil prices earlier on. pippa stevens has that story >> the white house says that report that iran and the united states were nearing a deal on iranian uranium enrichment was

false. that comes after a report rlier today that said the two nations were nearing a deal. it had already started to bounce back from the lows on some traders weighing potentially this might not happen. so it had already recovered, but the white house saying that report is false. kelly? >> thank you very much and we see oil halving its declines thank you very much. coming up, shares of salesforce are higher today after a shakeup was announced. we'll get a preview of the salesforce shareholder meeting kicking off in 15 minutes, coming up next on "the chgeexan."

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office, but there seems to be two different approaches emerging, and that's the focus of today's tech check with diedra bosa. good tease what are they? >> you can argue that there's three, but the two, you saw google last year try to entice people back with a lizzo concert, more free stuff now we are seeing the stick come out. google with performance reviews. you see this at other big tech companies that are trying to get workers to get back to the office under this hybrid arrangement. the third one, kelly, is kind of interesting. maybe let's call it ultruism salesfors is saying if you come in on these dates, we'll offer $10 to a charity of your choice. but the point is big tech companies are trying to get workers back into the office after over the last few years, touting the benefits of remote work >> so many observations, movies,

i think a lot of it comes down to people not wanting to commute. but i don't know if there is a pivot there. salesforce is one of the companies that trumpeted the idea that we don't have an office anymore, they seem to be reversing as part of this broader crackdown on expenses and betting operating. they have their investor meeting coming up in ten minutes >> that's right, the meeting happening today with some reported shakeups at the top there's still this question of a mark bennyhof succession earlier, remember, there's still activist investors interested in this company and there was that presentation we saw at the end of last year that shows that salesforce in terms of the profitability and operational m al me trix hasn'tn able to keep up in the space, off nearly 60% year to date, and

the whole ai shift, and other things that they're doing. but it will be an interesting shareholder meeting with all these other topics on the table. >> would you say that's a bit of a bellwether >> yeah, especially -- that's the other part thank you. enterprise spending. that is still a big question everyone is so excited about artificial intelligence and generative ai, but there is this question in the background, how quickly is enterprise recovering and aws and amazon, cloud units, how quickly is or is that not picking up >> that's the question we've been asking anyone coming through, because there have been some conflicting reports even last week, down 34% in a day and they implied businesses are pulling back on cyber spend. but even the analysts were saying we're not sure that's

entirely the story here. >> such a good point, kelly. it is a big debate in the tech world that gets pushed to the background because of the talks about ai the biggest question, salesforce is a bellwether, but you can argue aws and amazon is the biggest bellwether and you hear people asking has it bottomed? that's the key question here >> thank you very much.bellweth. you constantly hear people asking has it bottomed >> deirdre bosa, thank you very much coming up, $65 trillion -- trillion that's how much aarp estimates the contribution of the 50 plus contribution to global gdp will be that senior spending power is having a big impact on one company already according to its ceo. we have those details next throughout june, cnbc is celebrating pride month by sharing stories of corporate leaders. here is grinder's ceo. >> we know there's so much attack and hate at the community today happening from lots of

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. welcome back shares of royal caribbean are up 85% so far this year as people continue to spend on travel and experiences. but there's one segment of the population that has proven to be key to royal's current strength. seema mody smoke to jason liberty about that and she joins me now >> as you know, the millennials no doubt led the post-pandemic recovery in travel royal caribbean says it is the baby boomer customer now that's

increasingly booking trips and opting for more expensive cruises as well. >> on the luxury side, it's more the baby boomers are coming in also gen-x ers, and then the millennials combined with the gen-x are feeding multi generational travel. the baby boomer is also bringing in more of that multi generational travel as the grandparents are looking to travel with kids and grandkids >> liberty adds the older demographic is valuable, they pay for the higher value cruise and tend to bring family and friends with them. royal says its offerings are still 40% cheaper than hotel vacations from 2019 levels one reason investors still continue to bid up cruise stocks, royal up 26% in the last

three months versus marriott up 2%, royal is opting for biofuels as a way to reduce exposure to the volatility in oil prices investors will pivot their focus to carnival which will report earnings this month. >> i'm surprised the hotels have not done better. is marriott indicative of all of them there was an underweight for booking and maybe one other travel site this morning is there something going on there? >> it shows you investors are becoming more discerning when they invest in the travel space. the airlines have done well, but they always had the oil risk now with pricing continuing to rise, you have to wonder if they're pricing out certain customers. the cruise lines were the last to benefit from this post-pandemic surge, now they're seeing a huge run-up in bookings hotels are starting to see the average daily rate come down the past couple of months. softer pricing could be the story. >> that is righting to see it come down, that's something to watch. yet at the same time we're hearing about labor shortages

across the industry. >> we are. when i think about to the conversation with jason liberty last night, he pointed out that travel agents who were eliminated during the pandemic are coming back. one of the reasons is they're seeing demand from the older demographic who prefers to work with a travel agent while booking a cruise booking a flight is different from booking a cruise where there's so many different options from the type of cabin, do you get the drink package, do you not? that's where that customer tends to prefer to work with an experienced travel agent who is older than millennials >> apparently 70 is the new 17 the way people are living and spending fascinating. thank you very much. that does it for us today on "the exchange. president biden releasing a statement on the more than 400 active wildfires in canada he said he spoke with the prime minister and offered additional resources that canada needs to rapidly accelerate the effort to

put out those fires. biden spoke to pete buttigieg about monitoring air traffic in these conditions "power lunch" is up next tyler is getting ready we'll talk technical support on the other side of this break (sirens) [due at target in 5!] copy that. make a hard left down the alley. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadblock ahead. ...back up, back up... reverse! reverse! next level moments, we're 30 seconds out. need the next level network. [north corridor, hurry!] -coming through! -or 3, let's go. the network more businesses choose. transplant received. at&t business. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative

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whaatt?! overnight, users tripled. which meant hiring 20 new employees — and buying 20 new laptops. so she used her american express business card, which gives her more membership rewards points on her business purchases. somebody ordered some laptops? cynthia suarez. cfo. mvp. built for cynthia's business. built for your business. amex business. welcome to "power lunch. glad you could join us today coming up, smoke still blanketing new york city, much of the northeast we'll look at the impact it's having on businesses that rely on customers being outside and the battle over the back to office movement google will be cracking down on attendance that story and more coming up. first, a check on these markets.

the dow is pretty mu