let's get to frank holland who has the headlines today. >> here's your cnbc news update at this hour florida now has more than 100,000 confirmed cases of covid. it is the seventh state to hit that milestone on the positive side daily new cases fell below 3,000 for the first time in six days the percentage of people testing positive remains above 11% go to cnbc.com to see why former commissioner scott gottlieb says this could be a positipivotal wk >>> casinos will be allowed to reopen july 2nd, limited to 25% capacity new jersey governor murphy announcing restaurants can resume indoor dining the same day and at 25% capacity. >>> yoga enthusiasts in toronto found a safe way to take lessons together students get domes that have a heating unit to simulate a hot yoga studio and cleaned and disinfected after every use. can you imagine doing a downward doing dog in one of those. >> i can't nor can i imagine doing one in not in one of those. it's all good. >> thank you >> frank holland lack of diversity in silicon valley and in the portfolio compan

for right now frank holland and your business. >>> thank you, mike.ere are today's top business headlines. wall street set to open your higher. stocks closing at a flat line as investors dealt with disappointing numbers, unemployment and rising covid-19 cases worrying about stricter quarantine measures to curb the spread and hurting expectations of a smooth recovery. the dow, nasdaq and s&p 500 on track for the fourth positive week in the past five. >>> mcdonald's plans to hire 260,000 workers this summer as states and their dining rooms reopen during the pandemic. they have temperature checks for employees and signs promoting social distancing for customers. mcdonald's removed a number of items including salads and yogurt parfaits to streamline operations. sandwich shot subway is hiring with plans to add 50,000 workers and its $5 foot long deal. >>> americans plan to spend more on dear old dad this year. the national retail federation estimates $17 million will be spent on father's day, nearly $150 a person, a slight uptick from last year. top gift i

out with a new cfo survey taking a look at what they see as the biggest risk to their businesses frank holland has the results. frank. >> good morning, jon more than 86% of u.s. cfos see covid-19 as the biggest external risk to their business this was taken between may 14th and may 28th before we saw many of the mass protests over the killing of george floyd around the nation even still about 88% of global cfos see the pandemic as having a negative to very negative impact on their company with about 5% saying it's still too early to know. so those in line in general. when many nations on lockdown or getting out of lockdown demand for goods and service has slowed 46% of cfos saw a major decrease in demand from the u.s., a dra the mattic rise from only 2.5% in q1. a similar demand decrease from q1 to 2002 in europe when it comes to china demand that appears to be improve slightly 31% saw a major decrease in q2 the number falling to about a quarter. however the number of cfos saying their supply chain has been disrupted by the pandemic actually doubled quarter to quarter. the pandemic also disrup

to navigate a path forward from the ongoing lockdowns, a new cnbc survey reveals how cfos feel frank hollandk at cnbc hq with more on that. good morning. >> good morning to you two-thirds of north american cfos say they favor an additional economic stimulus bill in the u.s. to mitigate the impact of covid-19 virus concerns leading to a grim gdp outlook with cfos seeing the entire global economy declining. all of latin america downgraded to a strong q2 even the u.s. and canada getting downgraded from stable in q1 to declining in q2. low confidence related to the u.s. markets more than half seeing it more likely the dow jones falls below 24,000, less than a quarter believe it will cross 29,000 for the very first time. but, there is some optimism that some things will return to normal, whatever that means going forward. despite about 70% of s&p companies pulling or adjusting their guidance, nearly 44% of cfos believe most companies will resume things -- will resume guidance when things return to normal again, whenever and whatever that will be also optimism about the workplace. here in the u.s.

. >>> i'm frank holland at cnbc headquarters, here are today's top business headlines. wall street is opening up mixed. solid gains yesterday. rallying into the close and recovering a chunk of wednesday's losses. the markets struggled amidst news of coronavirus spikes. the nasdaq closing higher for the ninth time, that index on pace for its best quarter since 2001. reports on personal income and spending as well as consumer sentiment. the ceos of major u.s. airlines are set to discuss several covid-19 related travel issues. sources say these include a push to convince the federal government to mandate temperature checks for passengers. a top industry group says they plan to refund checks for those with high temperatures during screening and the talks will include more restrictions by the european union on u.s. travelers, contact tracing and the impact of covid-19 on travel demands. costco is starting to bring back popular free samples to some locations. reports say items are prepackaged and kept behind plexiglas shields. they suspended the samples. a change first announ

. >>> goodern morning, i'm frank holland.all street set to open up higher after stocks snapped a three-day win streak. investors continue to track a rise in new covid-19 cases amid the of our economy an underperforming air nasdaq and on pacemericans filed for unemployment in the past week offering an update on the ppandemic. >>> google has announced new hiring and security policy to address racial issues with the company as protesting over police brutality over black americans has carried over into discussions about corporate cull culture. by to 202 and 73% globally are . google also inclusive with steps such as eliminating an office security policy that may have led to racial profiling. >>> lyft says every car will be electric by the end of the decade but not provide support for drivers for switching. making it easier for drivers to switch for financial lyft current vehicle fleet is>> >>> we're going to see an even greater warm up than yesterday. believe it or not. today's temperatures will be nearing the triple-digit mark.

competition to some degree i thought it was so interesting in the segment just before this where frank holland said ecommerce companies like amazon and walmart even six months ago we weren't using that phrasing i think we've seen in the past three months walmart crush it and companies will come in and pick up the slack and maybe they deserve larger multiples maybe that's what closes the gap. >> josh, let's look at history for some perspective and trying to do that today when he suggests party like it's 1999. a lot of comparisons that people try to make. they may not be accurate he goes through some of these. for march 23rd through friday's close the s&p 500 is up 38.5% led by a 44.7% increase in the tech sector. nasdaq is up 45% over that same time he goes back and says during the melt up of the '90s, the s&p jumped 59.6% and led by an astonishing 234.7% increase in tech right. so, they're not even close even though you could make some comparisons perhaps like you maybe did in the spotifies up 8% to 10% every day, it seems like. other stocks as kramer pointed out today, square and pay pal whic

ups, fedex and some of the largest investors in shipping don't think so frank holland explains frank, what indicators are they seeing that makes them think this trend can continue? >> u.p.s. and fedex continue to adjust their business to the covid-19 pandemic. residential delivery has become 90% of the growth in e-commerce but only 33% as profitable as business-to-business delivery according to estimates from deutsche bank. a high volume, low margin situation that both companies have responded to by adding surcharges to their biggest shippers companies we all know like amazon, best buy and target. charge 30 cents for every package they send that exceeds weekly volume levels from february before the pandemic started. also added a flat rate surcharge of roughly $30 for oversized packages items like office furniture. with the number of shipments sent out these surcharges generate $48 million of revenue for u.p.s. in june alone that is according to shipma matrics. even as shelter-in-place orders are lifted and the economy reopens, the current online shopping trends will continue. companie

. >>> good morning, i'm frank holland. the supreme court gives the white house a victory allowing the country to quickly deport asylum seekers >>> statewide hospitalizations have tripled since memorial day. >>> macy's is cutting 3% of thoughal workforce to reduce costs as it struggles with the effects of covid-19. >>> and the hall of fame preseason game between the cowboys and the steelers will be canceled because of the pandemic the enshrinement ceremony will be postponed until next year back over to you (music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries. >>> we are in the bottom of the hour now the dow and s&p extending their losses we have barry banister joining us good morning, guys i want to start a bit broader because we talk about the markets themselves a lot, but for a venture investor, what is happening right now? kind of in aftershocks of the market volatility. the dip, t

frank holland has more >> that's right. arizona, florida, oklahoma and texas are reporting a rise in cases. nevada reported the highest single-day tally up from a previous high on may 23. hospitalizations are also rising or at record highs as the situation in china is also getting worse 70% of flights from beijing were canceled as the outbreak in the chinese capital is getting worse. reporting cases with mack ou and apple's head of diversity is launching a $100 million racial inequality initiative in the death of george floyd. according to company filings 67% of the work force were men down 3% from 2014 in the u.s., 6% of tech employees were black unchanged from when it first started reporting those figures in 2014. back to you. >>> back to the market, stocks were higher yesterday after better than expected retail numbers and a report of progress on a covid-19 therapeutic drug jay powell told congress, more fiscal stimulus may be necessary as the u.s. economy may only make a slow recovery from the covid-19 pandemic. >> our

let's go to frank holland >> it's a boost as an up tick in virus cases remains a concern. finishing in the green for only the second day in the past five. wti, that's the u.s. standard. more than 3% higher. again, second positive finish in the past five. this comes as chesapeake energy filed for bankruptcy spurred by lower oil prices some big oil names, both of those trading higher today turning to natural gas that surging more than 10% today. largely on expectations. the summer heat could raise demand in the near term. back over to you >>> thank you very much. the list of companies unfriending facebook ad network is growing by the day. in the last few minutes ford and best buy saying they will pull advertising. joining those companies that you see there. companies like clorox, coke, starbucks, verizon they are pulling ads and other social media as well with all of these companies provide the critical mass needed to force change, specific lip at facebook joining us is mike jackson mike, always great to see you. i wonder here how, if you can, unpack how much of this pull ba

girls who code carl >> jon, dow is down 640 as we moved to a market selloff look let's get to our frank hollandews update. hey, frank. >> here is your cnbc news update at this hour vitamin and dietary supplement company gnc filed for bankruptcy facing nearly $1 billion of debt the company plans on closing 20% of its retail locations totaling approximately 1,200 locations nationwide 30% of gnc stores were forced to temporarily close because of the pandemic. >>> federal regulators opened an investigation into touch screen failures in the tesla model s. the probe is looking at 63,000 cars from the 2012 to 2015 model years. the same components were also used in 159,000 more recent vehicles >>> and in madison, wisconsin, demonstrators tore down two statues outside the state capitol. a state senator was also attacked a black man shouted customers through a megaphone while carrying baseball bat in the restaurant. >>> u.s. is slapping $3 billion on tariffs on goods from uk, france, germany and spain. the move is part of a wider reaction from the u.s. in retaliation to a long-standing dispute with the e

e-commerce that's seen explosive growth for a closer look at the numbers and the winners let's bring in frank holland. >> 90% this year is due to the spike in residential deliveries due to the pandemic. the current covid 19 is a national emergency it's the dividing line of the first five months of the outbreak and it illustrates the shift in packages. amazon made the biggest gains shipping nearly a third of all e-commerce compared to a fifth in the same period in 2019 now looking at grocery delivery. that grew 50% year over year before mid march after those sales nearly tripling as more and more americans just avoided instore shopping and the majority of restaurants open these are trends continuing at least in the near term you look at the forecast growth of paid memberships. >> jobs, do jobs follow where the growth is. >> that's a big part of it amazon and instarting rotation car -- instacart. amazon was 175,000 for instcart 555,000 and other companies struggle to meet demand in appointment time. >> frank, thank you, sir that does it for the exchange. i'll see you on power lunch. >> thank you, and i

. >> frank holland, thank you. >>> meantime, las vegas is breaking another covid record this week withhere with what that means. they are selling off hard today. >> reporter: yes, they are what we're seeing is a sell-off over the fears of coronavirus. wynn down 8%, mgm is off 9%, red rock resorts, which really relies on residents who live in clark county, is off more than 9% then you see penn national gaming down 10.3%, some of it may be profit-taking after all penn especially has seen a massive triple-digit run-up in stocks over the past three months, but it has casinos in a lot of places where it's see infections rise. there's a lot of fear that the spikes in california and arizona will keep people from driving to las vegas. that and the locals are driving what revenue is coming in right now. we're hearing about the high-profile athletes testing positive that introduces a warning about plans for sports to return being disrupted, thereby sports betting. the governor has so far not issued an order to wear masks, but he's holding a news conference tonight i'll be watching to see if that

developments in the battle against the coronavirus and as civil unrest spreads across america, frank holland has a look at the impact on the nation's shipping industry, which is dealing with delivery restrictions and safety concerns let's begin though with mike and the broader market >> thanks. we have kind of this slow upward grind and sort of familiar from past summers when we were trading near highs and the market just kind of finds this relatively benign rhythm to go higher today, it's a combination. the big nasdaq stocks working like amazon and facebook and some of the beaten down travel and consumer stocks. here we are on a one-year trade. not yet in the s&p 500 up to 3068 which was last week's intraday high, but pretty tstea tri here around 3130, 3140. the big failed rally from early march as we gather up a little breakout potential that was a range for a while pretty much cleared that and we're up about 2% on the s&p from the overnight index futures lows so obviously, a show of resill yens even if the market a is slowing down then want to look at positioning of categories and hedge f

. >>> i'm frank holland. here is your cnbc news update at this hour. debate is getting moved to florida after the university of michigan withdrew from hosting the debate over covid-19 concerns it will now be held at the adrian arch center in miami. >>> novak djokovic has tested positive for covid-19. he is the fourth player to become infected after playing in a tournament that djokovic organized in serbia and croatia. >>> british prime minister jbori johnson announcing a major loosening of lockdown restrictions including the opening of pubs, restaurants and movie theaters starting july 4th and the government advising people to stay three feet apart rather than the previous six-foot recommendation. >>> the former ceo of wirecard is arrested on suspicion of falsifying accounts after the payment firm disclosed a $2.1 billion hole in its balance sheet. that's our cnbc news update for this hour. "squawk on the street" returns after the break. at mercedes-benz, nothing less than world-class service will do. that's why we're expanding your range of choices. m