peter baker, mcquade, and ron insana. coming up, it looks like vladimir putin is ignoring joe biden's warning on cyberattacks. so now what? a counterintelligence official is standing by. and later, a top house republican is about to make a big decision whether to try and own the lid's or help hold insurrectionist accountable. we'll get into kevin mccarthy's won six committee dilemma. the 11th hour just getting underway on wednesday night. dnesday night. flowers are fighters. that's why the alzheimer's association walk to end alzheimer's is full of them. because flowers find a way to break through. just like we will. join the fight at alz.org/walk ah! my helicopter has better wifi than this. you thinking what i am? great time. don't worry i have the best internet people. hello xfinity. get me xfi pronto. that was fast. yep. now we just self-install. and we're back baby. do more of what you love when you upgrade to xfinity xfi. baby ninjas? i love it. this is vladimir putin. of course he's gonna test us. of course he's gonn

joining us is ron insana, a cnbc senior analyst and commentators as well as a senior adviser to schroeder's north america, and senior portfolio manager with washington crossing advisers gentlemen, thank you both for being here i will ask you both the same question ron, we generally hear the news is priced into the market. we see with these executive orders pending the markets are rallying and then there's two companies i cover, csx and kansas city southern they're targeted by two of these executive orders and both are far outperforming the market is the sense of the impact potentially overblown? >> well, it might be in the sense it requires a great deal of work on the part of regulatory agencies and where congress would have to legislate certain outcomes or if you go back to 1998 when we saw similar allegations against microsoft and ended up in a lawsuit that took time to remediate and microsoft effectively won. i think most investors are taking the long view number one, it may not have as dramatic an impact as some would suggest and on the other end if there is some realigning of the rules

joining me now cnbc senior analyst and commentator ron insana.irlines, a lot of stuff in the tourism sector which was just trying to get back. clearly wall street isn't so sure. tell me what you see and what happened today. >> i think it's three pronged. first and foremost are the concerns you talked about, the delta virus not just spreading in the you sats but spreading unchecked overseas, which could slow the pace of global economic growth and we could see pockets of economic weakness here as a consequence and, as you said, it hit those most vulnerable areas. leisure, tour. and the like. we have a huge decline in energy stocks. the u.s. taking a harder line on china with respect to cyber security. everything coalesced to launch a sell-off. the biggest since october, as you say. it is that concern about the delta variant slowing economic growth that's not only pushing the stock market down but interest rates down as well. the yield on the ten-year treasury at 1.8% is the lowest since february. >> one of the things we heard today, the focus of jo

. >> he can call of our old friend ron insana -- >> i believe you >> a couple weeks after it happened, former labor secretary robert reich came on, and he was on ron's program, and as he said, i coined the phrase goal i l -- goldilocks economy -- ron insana said -- i've been dating goldilocks for a long time. >> it's an amazing story, art. always why we turn to you for the analysis on the jobs point, just to further prove that point, on wages, for instance, a lot of people are pointing to wages, but it's at a slower rate than we say in may and april. the unemployment rate goes up, which speaks to slack, so overall would you favor the moving toward rate hikes if it comes on in the coming weeks >> well, i think today's number did little to it talking about fading taper, you should take a bow, young lady. it was almost 2 1/2 weeks ago, i get when you asked mr. bullock of the st. louis fed, how do you explain still buying mortgage-backed securities, when the real estate market is that hot, and he skinned of sputtered a bit and tried to defer to the chairman now, since you brought it to li

let's ask our next guest the chief investment strategist at cornerstone macro and ron insana is a cnbc contributor. ron, it sounds like you're open to stocks here >> until you get a legitimate reason to sell, a true change in federal reserve policy and that would come because they are heating up to such an extent it's easy money policies, yes, you sell that could happen for any number of reasons but right now you've got a market that has strong economic growth, inflation indicators that have been troubling. i've been doing so for a couple of months and that takes a little steam out of the necessity or out of the fed's efforts to have to taper here. i'm not sure there's anything in the way of this market other than maybe some temporary exhaustion but they tent to resolve themselves >> michael, you sound optimistic with the 4,500 price target for the s&p. >> absolutely. >> i think any kind of pullback should be bought people believe the market is expensive. the vgs will decelerate. they don't have bear markets until we see earnings decline and that's nowhere in the visibility here. issue

so much st take a look at the dow let's talk about the delta variant and the risk to the market ron insana commentator and senior adviser to schroeder's north america is that the concern or the concern it's a place holder for gamma variant, if this is still mutating and what that could do to the economy >> i think all of the above, eamon. it gives a new definition to so-called delta hedging which is typically more financially oriented the market is getting weaker that we could see a slower economy if certain regions of the country were forced to radically change their behavior whether it's in los angeles county,missouri, arkansas, what have you nevada even which is seeing a surge. it could slow the economy and we're seeing that internationally. getting synchronized global economic growth, which is what was hoped for earlier in the year may become a little more difficult. i know my old friend art mentioned this as well more and more credence it's a wait-and-see situation, the market's nervous about it. a day like today is a regular day in market history. this is just a little nervous. >> in

let's bring in ron insana. and stephanie link, a cnbc contributor and "halftime" trader and chief investment strategist and portfolio manager. ron and stephanie, good to see you both ron, let's start with you. the world has reopened earnings were strong what's behind these numbers and what are you looking for the second half of the year? >> i think bob outlined it extraordinarily well we had the delta scare last friday and monday. and it would appear now that folks are less concerned about it completely derailing the economic recovery although it may slow some regions of the u.s. and certainly other parts of the world they seem to have gotten over that quite quickly earnings are supporting prices, not just the extent of the beat but the number of companies is at a historic level. and rates remain it's a little bit goldilocks i always hesitate to use that expression first used by my friend art cashin used on the floor of the stock exchange. but that seems to be where we are at the moment. >> and stephanie, amd, g

and ron insana, good evening to all three. thank you for being here.er, in illinois, in a district that his predecessor won, but a democrat represents in congress, not entirely solid democratic ground. but his american families plan that he was pitching today, and the jobs act, the infrastructure bill, are both much more popular in america than republicans in congress would have you believe. >> you have a president unlike his predecessor who is trying to build on his coalition, trying to go beyond the people who voted for him a few months ago to expand his support base. and his approval rating right now is hovering in the low 50% range. higher than trump ever got. president trump didn't actually try to expand his base. he stuck with the people who brought him there, he thought he could reproduce that same inside straight that won the electoral college but not the popular vote a second time. president biden is trying to reach out to districts where he has a chance of winning over people, trying to appeal to them with programs like his social spending, i

. >> ron insana, thank you for that. shaquille brewster, dr., thank you. >>> from vaccines to a different protective action. the remaining protective fence that's is set up around the capitol expected to start coming down this morning. but most visitors will still not be allowed inside the capitol building. let's go right to nbc's leigh ann caldwell on capitol hill. why is the fencing coming down now? >> reporter: good morning, chris. so, the u.s. capitol police board, which is the governing body that oversees security up here on capitol hill, has made the decision that this, what they call incremental change, can take place. now, the black fencing that has surrounded the entire capitol complex or at least the capitol building, has really been a symbol and a reminder of what took place on january 6th, and it has become a major political battle as well with republicans charging house speaker nancy pelosi with keeping the barrier up for political reasons, as a reminder of what happened on january 6th. speaker pelosi would always point to security