jeffrey gundlach the dow has gone positive. the s&p and nasdaq are in negative territory right as we speak. there is the 10-year note yield. it is at 1.32, a little bit lower than that not too long ago, as the fed chair taking capitol hill for the second day. yields as i said falling, investors reacting to a lot today, including more bank earnings, josh brown to you. we go 1.31 was the low today on the 10-year. breadth hasn't been great of late ark stocks not doing well at all. what's your focus today? >> yeah, there is no bounce in those ark names, something i've been watching and talking about here on the network. i think markets overall are pretty calm today, very quietly health care is advancing one of the stronger sectors, may have something to do with that appropriations bill. banks seem pretty good today i'm looking at the discover financial, dfs and capital one two credit card names seem to be getting mojo back. morgan stanley and goldman sachs are the two best of the large banks. transports acting better too i think th

at least according to jeffrey gundlach who we spoke to exclusively yesterday, that is the reason why stocks can still be considered a attractive in this environment let's listen to gundlach and we can react on the other side. >> the biggest case for stocks is they are cheap to bonds, still cheap to bonds because the bond yield is so ridiculously low. and you also have the fed doing their quantitative easing. it still remains the case that there is almost a constant -- almost like a law of physics, if you take the fed's balance sheet and divide it by the mechanic cap of s&p 500 it seems to be a constant and this is true going back like ten years. so the fed continues with their bond buying and continue to suppress interest rates. that's been supporting the stock market >> and that's not ending any time soon, right, jenny? so breadth okay, it's narrowed considerable, all right. okay ark stocks they've come down dwoin from 60,000 to 30,000, spac index, the chart doesn't look great either. but doesn't matter because rates are low. as long as that's the fact and the fed has the spigot on,

jeffrey gundlach the dow has gone positive. we speak. there is the 10-year note yield. it is at 1.32, a little bit lower than that not too long ago, as the fed chair taking capitol hill for the second day. yields as i said falling

. >> jeffrey gundlach joining us in a "halftime" exclusive interview. that's it for us "the exchange" is now. >>> and thank you very much, scott. hi, everybody. this is "the exchange. here is what's ahead the child tax credit payments are going out to families of 60 million children getting more than $400 a month on average is this a major step toward a universal basic income >>> and controversy growing around biogen's alzheimer's drug just days after the center for medicare and medicaid began its review, two major hospital systems are saying they won't use it does it have a future? plus, quitting crypto, souring on oat milk, and don't charge in your garage. those stories coming up in "rapid fire. dom chu is here with the numbers. >>> kelly, what we have here is a market that has turned around a little bit we were in the red in negative territory and were going to see modest losses, but here we are seeing the dow industrials get back to flat the s&p 500 is down but the nasdaq has now turned around to be the big laggard of the day, 14,536 the last trade

. >>> another reminder, thursday "halftime" exclusive, jeffrey gundlach i mentioned a cup sells i wantedio what's your final trade today? >> i'm going to go with walmart. i think it obviously underperformed the market. i can it can catch a bid on return to everything trade >> stephanie link. >> anaplan, it's up 5% under the new ceo. it's still down 22% yore to data >> pete najarian >> i'm looking at unitedhealth it's still cheap >> good stuff. trb, the reformed broker >> jpmorgan. best is yet to come for the economy and for companies like this bank, that facilitates all the activity within it >> good stuff. thanks everybody "the exchange" starts now. >>> thank you, scott hi, everybody. i'm kelly evans. this is "the exchange" and we have inflation to talk about, coming in superhot for june, up 5.4%, the core reading up the most 30 years why are stocks rallying today? we'll discuss. plus we have the unrest in cuba, the latest from havana as analysts wonder if venezuela could be next and why our guest says the u.s. should not pursue more sanctions >>> and coming up in rapid fire,

. >> i should let you o, a reminder we're speaking exclusively with double line ceo jeffrey gundlach who you know is going to have reaction to what the fed is doing, the chairman is saying today. and just where we are in the market remember, it was at the very beginning of the year when mr. gundlach was with us and suggesting the market was trading at high valuation. s&p up 15% since then. you can only wonder what he might be thinking now and what his reaction to jay powell will be here is the fed chair. >> monetary policy report. at the fed we are strongly committed to achieving the monetary policy goals that congress has given us, maximum employment and price stability we pursue these goals based solely on data and objective analysis and we are committed to doing so in a clear and transparent manner today i will review the current economic situation before turning to monetary policy over the first half of 2021 ongoing vaccinationsled to reopening of the economy and strong economic growth supported by accommodator monetary and fiscal policy. real gross dmekd product this year appear

don't miss an exclusive with double line's jeffrey gundlach at 12: p. eaer00.mstn.us ♪♪ ♪♪ rush hour will never feel the same. experience, thrilling performance from our entire line of vehicles at the lexus golden opportunity sales event. lease the 2021 is 300 for $379 a month for 36 months. experience amazing. >>> lumber's quick fall may not be the only downswing for the commodity space this summer. we have more on cnbc.com more "squawk on the street" coming up. >>> let's bring in steve liesman for more reaction to powell speaking in the senate today, steve. >> yeah, mike. i think the one bit of news that maybe you missed when you were talking to mr. costin earlier was that powell made a little bit more about where the fed is in thinking about tapering he said we're in active consideration of figuring out if we made further substantial progress >> we said we would begin to reduce our asset purchases when we feel the economy achieved substantial further progress measured from last december. so we're in active consideration of that now. we had a full meeting last jun