stories of the morning and more on the potential $1 trillion infrastructure and spending bill kristina partsineveloser: chuck schumer is looking to fast track consideration of the byipartisa infrastructure deal. progra promising to work together to put the deal together this week. the senate overwhelmingly approved two amendments tied to the legislation late yesterday evening. schumer says he wants voting wrapped up before lawmakers leave for august recess next week >>> amazon warehouse workers in alabama may get another chance to vote on whether to unionize that union looked to represent the workers say a federal labor official said the tactics of the company in april tainted the results. another election should take place. amazon is expected to challenge the claim and recommendation. >>> the crypto sector seeing outflows it hit $19.5 million on friday the bulk from bitcoin and related products coinshares adds other crypto assets like ripple and polka dot had minor shares during that period brian. >> kristina, thank you very much. >>> as money flowing out of many of the crypto, today is decision da

i'm kristina partsinevelos we want to get a check on the crypto space with bitcoin at one point topping 50,000 both are off their session highs at the moment but still firmly in the green for the day as we take a look at some of the stocks in the crypto arena, it's a mixed picture hovering between positive and negative territory while robinhood and square remain high. >> kristina, thank you very much along with the rally in bitcoin price, the overall crypto market broke $2 trillion this month for the first time since may will bitcoin and other currencies dip back down or reach for new record highs joining us is coin share's chief strategy officer good to have you with us bitcoin is on the way back why has it picked up here over the last month or so going from where it was in the high 20s to now close to 50? >> that's a great question i wish i could give you absolutes. but we manage $5 billion in assets under management in our crypto-related etps and have an active trading business and an investing business we like to look at data and trend flows. there's over $50 billion in assets in cr

you can see the shares are down about 3% as well wilf >> it is time for a cnbc news update kristina partsinevelosstina >> yes thank you, all the united states is sending more troops to afghanistan to help evacuate personnel from the united states embassy in kabul state department officials say the troops are only going to afghanistan to hem withdraw american civilians and not reengage in battle >>> the bill passed the senate minuted after the not put down her microphone it remains stalked in the texas house, where it's been blocked for 32 days. >>> sources telling nbc news it's highly likely fans will be barred from much of the tokyo paralympic games due to the pandemic a state of emergency in effect until the end of the month in tokyo, and many other areas. the games are set to begin on august 24th. >>> in canada, justin trudeau reportedly cause for a snap vote regarding the covid pandemic. >>> straight ahead, the iea due to the rise of the variant up next, we're going to talk to citi's u.s. cheat equities strategist on how to play the energy sector. would we're counting you count energy earning

the penchant for them to take bigger gambles we have kristina partsinevelos with more on those findings new era of meme investing is upon us. online world encouraging each other to hold investment it is public nature which is why young erier investors are willit take on the risk reddit investors are getting advice online like you tube. robinhood and twitter were not the focus of the survey. the survey of 18 to 24 year olds were more risk financial decisions when watched by others. encouraging each other to stay long and behavior could stem from the interaction of community and capital. >> it is not really so much about earning profit as much as showing your fellow community members this is what i got i'll keep holding on for you and the rest of the community. you saw that with gamestop >> reporter: social media and social interaction are a big part of why robinhood and reddit is popular bets sky rocketed to 10.7 million people the propensity to gamble grows when everyone sees your stock picks, there is an upside. rise in retail investment participation and more are getting in the game.

wells fargo the latest companies to announce they'd push back the return-to-office plans kristina partsinevelosas a look at how companies are scrambling in light of these rising cases kristina >> just thought when you thought you would be dusting off the work clothes, the company's plans have been thrown out the window 30% say still vaccine mandates are gaining in popularity. our own cnbc workforce saying 29% say they would require proof of vaccination peeps, though, may be overlook i ing, from the workplace, that the vaccines -- >> the biggest lesson, is to not only have a return-to-work strategy, but an exit one as well >> the interesting thing is they were one of the less proactive banks in the first place so my point is it's not unanimous throughout some companies have been taking a softer approach, and it might be different type, that kind of culture, or investment bank, or different from a retail bank >> don't you find, though, that some companies are referencing local governments then we'll move, so that could contribute to some hesitation by some of the companies? >> absolutely. >>> we'

kristina partsinevelos >>> that does it for "the exchange."gins right now >>> kelly, thank you very much it certainly does start right now and welcometo "power lunch. here is what's ahead happening right now president biden hosting his first very high-profile meeting with private sector executives. a who's who of ceos. the issue is cyber security, and we'll speak to an expert who says there's one area of this growing threat that is not being sufficiently discussed and that is supply chain security >>> and an advertising powerhouse apple's ad business could grow a lot faster than people think we'll talk to an analyst who has the

kristina partsinevelos has those numbers as well. >> people are still looking for love and are willing unexpected loss of six cents a year the company increased q3 and full-year guidance as well higher than estimates. and despite the reopening of restaurants and bars across the company, bumble had 2.9 million paying subscribers bumble bff also doing well bumble was downloaded 2 million times in q2 which is a surge of 18%. and the stock right now is 2.7% higher back to you. >> kristina, thanks for that one. >>> still ahead -- rbc capital markets head of u.s. equity strategy has been bullish on financials and energy for quite some while up next she'll tell us which other sectors she's upgrading to a buy rating >>> also, mike santoli breaks down new data to find out whether the market is hitting peak earnings growth all that still to come here on "closing bell. at pnc bank, we believe in the power of the watch out. that's why we created low cash mode, the financial watch out that gives you the options and extra time needed to help you avoid an overdraft fee. it's one way we're making a di

kristina partsinevelos with cisco. >> a double beat top and bottom.eople are buying products for cybersecurity, as well as telecommunications as we transition towards that hybrid office product offerings for this fiscal year increased 31%. that growth year over year is a record that we haven't seen in the past ten years or so earnings per share at 84 cents they also had record operating cash flow for the quarter. and we're talking about the full year this is the key where a lot of people are looking for any guidance going forward for full year fiscal 2022 $3.38 to $3.45 if you do a control on the earnings report, there's no mention of supply. that's what we're looking for. there's a lot of concerns about the lead times for these products the supply issues. the surging freight costs as well as higher than normal component pricing. these are all aspects we'll have to get on the call hopefully shares, though, they fell 2% now down 2% on the news. >> josh brown, thanks to you tiffany mcgee and mark >>> up next -- much more reaction to robinhood's first qu

cr kristina partsinevelos has more. >> this is about anxiety, as well as a lot of conferences that havew -- some places say they'll knee vaccines. people are wondering should i book my vacation nor wean edge is down, this is the same kind of story we are seeing for the airline stocks, too. we'll bring that up now, too many people, there have been consolations southwest air, american and eye newted trending lower. last but not league, the booking hotels although it's on your screen right now, it is relevant for all of these companies, because expedia did say they noticed a lot of people sell more money, shorter vacation times, so think of smaller boutique hotels rather than lavish trips abroad. travel stocks getting hit, anxiety about covid and any time of new restrictions as well as any vaccine passports. even with norwegian, like in florida. back to you. >> that's a perfect sec way. surging delta variant cases are putting the damper on large events this for a little last wee's cancellation of the new york auto show, which was also scrapped in 2020 the moves come just as eventbrite sauc

we'll talk to the ceo of one cannabis company >>> disney surging after hours let's get to kristina partsinevelos with the details. >> the transformation from media legacy to direct to -- the company posted a larger than expected beat. with a beat with revenue at $17 billion. higher than expected subscribers. bob chapek weighs in on the call right north. breakdown from our beloved brands, including quarterbacks luca, "loki" and we have continued to launch did i any plus in new markets. >> the average monthly revenue per paid subscriber for disney decreased by 46 cents, because they and the new subscribers even though there's still no meet-and-greets with mickey and mickey, they posted their first profit saying it breached the contract, and bob chapek said on the call it was the right strategy to meet the broadest audience, and doing what they believe is in the best response offing that -- >> they don't anticipate bringing back repurposing any shares under events have normalized >> be sure to tune in for the exclusive interview, with bob chapek gentlemen, let's trade it, tim i'm going to start wit

i'm kristina partsinevelos kraft heinz expects near term margin pressure due to higher ingredient prices as well as cost inflation if we take a look at some of these peers for kraft we see a common trend just over the past three months or so in names like campbell's soup down double digits in that time as inflation concerns have persisted throughout the summer. back to you. >> i love a good bowl. >> that and kd which is kraft dinner in canada >> we call it mac and cheese >>> meantime, royal caribbean's quarterly loss is sending the stock lower for a seventh straight session the company lost more than $5 a share and missed estimates by nearly $100 million as bookings were slow to recover despite reporting a modest impact from the delta variant royal caribbean expects to have 80% by the end of the year and 100% by the spring so joining us now is cnbc exclusive, chairman and ceo richard fain thank you so much for being here i know it has been a tough go for the cruise industry because of things that were out of your control. you've done the best you can you are still behind your original es

i'm kristina partsinevelos we want to check on two of the u.s.s to limit kids' exposure to video games to three hours a week netease and bilibili with losses as investors have grown cautious both stocks are down with netease tracking for its worst month in three years tyler? >> all right, kristina, thank you very much. >>> and the end of august in sight and the s&p 500 looking to end its seventh month of gains in a row, but with september a traditionally weak month for markets how should investors position themselves? your "trading nation" team -- where is the music where is the animation bill barouk and michael at rockefeller capital. michael, do you have a pick for september? >> look, i think as much as we like the technology sector, the financial sector is probably the most undervalued and under the radar for a few different reasons that we'll highlight one being the economic recovery. they're going to be one of the biggest, if not the biggest beneficiary of the recovery. two, the increased productivity because they've been able to work on all

kristina partsinevelos >>> that does it for "the exchange." don't leave your seats "power lunch" begins right now >>> kelly, thank you very much it certainly does start right now and welcometo "power lunch. here is what's ahead happening right now president biden hosting his first very high-profile meeting with private sector executives. a who's who of ceos. the issue is cyber security, and we'll speak to an expert who says there's one area of this growing threat that is not being sufficiently discussed and that is supply chain security >>> and an advertising powerhouse apple's ad business could grow a lot faster than people think we'll talk to an analyst who has the numbers to prove it and fizzling out the once sizzling hard seltzer market hitting a summer slump and it could knock 30% off boston beer stock price. we'll dive into that call later this hour. kelly? >> tyler, thank you very much. and hi, everybody. here is your midday market check. the dow hanging on to an 84-point gain. the s&p crossing 4,400 today just about two points below th

i'm kristina partsinevelos stocks are lower in the materials sector this is down almost 2% and teetering territory for august. more than half of the sector's trading in so-called correction territory, meaning 10% or more among today's worst performers are freeport macmarion and albemarle and now down 9% in the week although laggards in the sector are a mix of chemical and fertilizer such as cf industries as well as the dow >> thank you >>> weak retail sales and the delta variant and the fed playing out in the bond market rick santelli has the latest action >> yes kelly, yesterday more of my emails were retail sales much worse than expected and indeed it was but the problem is it was sort of built in. look at it inter day of ten year, and you could see right at 8:30 eastern we plummeted but we come back fast there was some positive revisions and in the end restaurant spending is the only spending in this category. and if you recall, the service sector number a couple of weeks ago was historic and those numbers give you bigger moves to the upside than retail sales gives us to the down side

. >>> i'm kristina partsinevelos and here's your cnbc update at this hour. the texas supreme court is stepping into the fight over gop efforts to pass a voting bill. democrats have been staying away from the state capitol preventing a special session of the legislature from doing anything because there aren't enough lawmakers present the high court now says democrats can be arrested and brought to the capitol that's a reversal of a lower court's order blocking any arrests. a few democrats have returned to the state but many remain in washington where they can't be arrested by texas officers, no matter what the court rules. >>> newsmax says today that a suit filed against it by dominion voting systems is an attempt to undermine a free press. the voting machine company is suing newsmax, one america news network and patrick burn accusing them of spreading false claims dominion helped steal the 2020 election from donald trump. newsmax said it was just reporting on allegations made by well-known public figures, including trump. >>> in the atlantic ocean, explosio

kristina partsinevelos with the numbers. >> markets mostly high across the board. nasdaq down about 61 points. s&p 500 also off best levels strategists at goldman sachs increasing their year end target to 4,700 so, we're a little off on that point right now. but that represent a major upside from where we are now u.s. government bond yields rose today after a labor department data shows unemployment declines since the lowest level since the pandemic took hold the yield prices falling to that but funny how earlier in the week we saw this low of 1.12 when we were talking about deflation. look at where we are now that's why financials are leading the market, helped by those higher yields. materials boosted by chemicals and industrial metals, energy outperforming, despite crude looking to cap its worst week since october. the restaurant sector taking a major hit. i know frank will have to go to jack in the box, cheesecake factory and red robin down for the week trading app robinhood surging today. look, up 40-some percent since the ipo, up almost 10% that's because ear

pledging to become net zero in the future those pledges don't mean the same thing to everyone kristina partsinevelosdigging into the ambiguity >> reporter: now more than ever companies and countries are talking up green potentials, pledging to become net zero or carbon neutral when we dig into the details, the pledges don't always live up to their promises. simply put net zero is the balance between the amount of greenhouse gas produced and the amount removed from the atmosphere to reach that balance, we need to make up for the amount of co2 we emit by investing in carbon off sets like planting trees, building wind farms or using carbon capture >> there is a fear by making a long-term commitment to net zero but not filling in all of the detail about exactly how that's going to happen in the short term that companies and countries are sort of pushing off to tomorrow. >> reporter: but how achievable are these commitments? carbon offsets avoid the release of additional carbon dioxide into the atmosphere. but research shows less than 5% of offsets actually remove carbon dioxide from the atmosphere a rep

. >> let's get to kristina partsinevelos with details. >> the shopping company gave us a mixed bag. losses came in at $1.13 but sale climb in slightly higher than expected at $2.11 billion. although ex pedia has benefitted from domestic travel, those continued weakness in international travel and corporate travel, and the company said that they have high consumer interest in smaller more affordable accommodations so think like a small hotel oar motel versus a villa in monaco the ceo did say that the recent covid variant continues to create uncertainty and quote, unfortunately the road to full travel recovery remains bumpy until more of the world is vaccinated the stock like you said plunging in after hours trading it is down almost 6% and led by the dire outlook for travel in the near term but the stock is still up about 14% or so in year-to-date back to you. >> thank you jeff, where do you stand on expedi expedia? >> it is bumping up in the after hour against that old 2017 all-time high. it is almost exactly the level of the rising 200 day moving average. so i do think holding this

over to kristina partsinevelos for a cnbc update. >>> we have outgoing new york governor andrew cuomo saying he will not run for office again. he also congratulated new yorkers for their battle to rein in covid he also said the allegations needed deeper investigation. >> the attorney general's report was designed to be a political fire cracker on an explosive topic, and it worked there was a political and media stampede but the truth will out in time >>> switching gears, afghan refugees continue arriving in the united states. this group of about 50 going to a convention center in virginia for processing the next stop for them is either fort bliss in texas or fort mccoy in wisconsin >>> and on "the news" can evacuations from afghanistan be completed by the august 31st troop withdrawal deadline. shep will tack a look and talk to the ambassador about staying in kabul longer. that's tonight at 7:00 p.m. eastern time >>> and six in ten americans support mask and vaccine mandates for students and teachers in k-12th grade this according to new polls from the associated press 80% of democrats

that should be on your radar right now it's time for rapid fire here to break down, dom chu, kristina partsinevelos, and our outsider, casey newton welcome, everybody it's good to have you here let's start with the spat between kathy wood and michael burry. he may not be the only one short interest in ark hit a record 24 million shares, and via put options, that was worth about $30 million at the end of last quarter it's unclear if the position is profitable or whether he still holds it ark shares are down this year. peak to trough they've fallen more than that it could have been well timed. we don't know for sure yet >> it's after the fact we know it's not just michael burry. there's a bunch of other companies like moore capital management, golden tree asset. the list goes on they're all taking these bearish positions against ark, not necessarily against kathy wood they're arguing it's against the fundamentals, all the companies in her basket are too overvalued a lot of people have shorted tesla. the big concern too to compare the chart just to the s&p 500 year-to-date, ark isn't doing so well the

kristina partsinevelos has some findings >> so we know that we are in a new era of meme investing andrld is encouraging people to hold or huddle investments and the public nature could be why younger retail investors are willing to take on that risk. almost six in ten investors are members of investment communities like reddit. and many, many are getting their financial advice online, hopefully through apps like anything to do with cnbc, but youtube and tiktok lead the list and tho a survey of 18 to 24-year-olds were found to be more likely to choose riskier financial decisions when being watched by others today, investors are constantly sharing trades on twitter and encouraging each other to stay long in trades behavioral researchers say the risk could stem from the interaction of community and capital. >> it is not really so much about earning profit as much as showing your fellow community members this is what i got, this is -- i'm going to keep holding on for you guys, for the rest of my community you saw a lot of that with game stop >> social media is a big part why robinhood and

(uplifting music) >>> time now for an update from kristina partsinevelos. >> the evacuation efforts should by an agreement with the taliban to allow safe passage for civilians seeking to left afghanistan >>> on the news, a talk with a top political scientist about the battle to gain favor with the taliban. >>> in haiti, authorities say the death toll from saturday's massive equal has risen to nearly 2,000, almost 600 more dead than previously reported. government officials briefly halted rescue efforts today because of heavy rains from tropical storm grace >>> and in california, real estate hare robert durst facing crocks at the murder trial of his best friend. prosecutors are expected to grilly on what they say are dozens of lies he told on the witness stand. >>> wilf, i'll send it back to you. >> kristina, thanks so much. >>> up next, former walmart u.s. ceo bill aislensimon on what toc from target tomorrow >>> find out what to expect tomorrow when it reports its first earnings as the public company robinhood. we're back in a couple minutes ee commercial real estate exchange. you see it.

let's get to kristina partsinevelos. >> snowflake, revenue at $272.2 million.ncing the number of customers. putting up all your storage into the cloud. and they said that caused the stock to jump up and then fall down the net revenue retention came in at 169% higher than last year what that means is there's an increase in the number of customers paying $1 million or more just over the last 12 months that was a strong number for them however, the gap earnings per share came in at a loss of 64 cents. so gap earnings per share game in at a loss of 64 cents a revenue beat now i'm going to switch to williams sonoma because their results came out a double beat. earnings per share and revenue both beating expectations. $3.24 for eps and revenues of $1.95 billion. the company, though, just announced they are going to be providing a 20% quarterly dividend and approved a $1.25 billion buyback. the big thing we're going to be looking for on the earnings call at 5:00 p.m. is whether the sales are going to continue as more and more places start to open up. i looked right be

kristina partsinevelos has more on this story. kristina, what's up?opes to find clarity on the path forward to sailing from florida. >> governor desantis says the ban is to protect civil liberties. while norwegian says we believe the prohibition is on the wrong side of federal law, public health and science the company could be fined as much as $5,000 per person. that's why norwegian is suing the state at the southern direct of florida, a federal court, in the hopes a judge would allow them to continue their business. florida wants to settle it in a state court, which has already been relatively friendly to the policies and further added, quote, norwegian's case is not about public health, but rather about a business decision it has made in an apparent attempt to reduce costs. as florida and norwegian fight over the venue to hear the arguments, how cruises proceed on august 15th is still up in the air. >> this is such a strange case, when it's a business that wants to do something -- a private business that wants to do this, what are you hearing in te