i'm headed back to d.c., but "power lunch" starts right now so i'll turn it over to rahel solomon and tyler mattson. >>> we are tracking the developments out of washington and albany legislation in washington, resignation in albany. the company at the center of the economic rebound feeling the push/pull of strong demand, raw material delays and rising shipping costs. >>> also the interim ceo of fanduel is here. we'll ask her about the company's next big bet, the unusual partnership with its biggest competitor and its expanding u.s. market share. >>> our powerhouse road trip let's go to austin, texas, where homes are selling at record prices one of the hottest places in the country. and i'm not talking about the temperature. leading one retailer to do something she's never done before we'll tell you what it is when "power lunch" starts right now >>> the dow and s&p hitting intraday records, the nasdaq lower by a little bit. about zmt 4 of a percent the dow up about half a percent and the s&p about 0.2 of a percent. >> bank stocks are rising and tend to do that in tandem. bank of americ

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>> rahel, thank you very much. rahel solomon. >>> the dow is down 50 points this hour.&p and nasdaq are higher. the nasdaq was negative earlier today so it's been clawing its way back look at shares of aerojet rocketdyne according to bloomberg reports, it could impact lockheed martin's plans to acquire the company. tyler, a sharp move lower. we'll keep an eye on it. >>> let's take you through some other stocks making news today first up, utz brands, the snack maker, falling after missing earnings estimates the company saying it expects costs to remain elevated for the remainder of the year. >> eb charging and fuel players missing on earnings, getting a downgrade from roth capital, down 8%. >> virgin galactic, downgraded by credit suisse, saying there are no cat lalysts for the stock in the near term morgan stanley says the stock will fall 20%. for more on this call and others go to cnbc.com/pro >>> our next guest says the fed is your friend, don't fight it >>> plus state and local governments battling a seemingly constant stream now of ransomware attacks, now getting a

sounds like a great family rahel, thank you very much rahel solomon.k to markets which are still near session highs the dow is up two-thirds of a percent. the nasdaq up 1.2% all of this after fed chair powell did prepare investors for a taper but emphasized he thinks inflation will be transitory and you just heard about these mandatory evacuation orders for new orleans. the gulf of mexico oil output has been cut by about 60% as hurricane ida heads for that region crude is now up about 10% for the week, tyler. >>> a former black rock executive says the esg movement is a dangerous placebo that harms public interest in green initiatives. he'll be here with us to explain plus a special item on today's menu world renowned wolfgang puck about the state of restaurants and covid, the labor market, supply chain and more. we'll be right back. does your vitamin c last twenty-four hours? only nature's bounty does. immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other immune superstars. only from nature's bounty. and there you have it— -

first, let's get a news update with rahel sullivan. rahel? >> good morning. what's happening at this hour. consumer prices rose last month at the slowest pace since february half percentage.increase along with forecasts used car prices edged up slightly after posting big jumps for three consecutive months >>> trimming losses up 2.5%. white house calling on opec and other oil-producing nations to increase productions fighting rising gas prices. the administration saying opec should pump more crude making sure the global recovery stays on track. >>> erases losses more than 2.5% this morning stock rebounding even an southwest lowered q3 guidance saying spread of delta variant will make it difficult for the airline to post a quarterly profit. >>> wendy's stock popping more than 3%. topping estimates and nearly tripling year-ago profits. restaurant seams shot up 16% in u.s. locations and grew nearly twice as fast internationally. a lot of frosties, deirdre back to you. >> so good rahel, thank you. >>> with the s&p hitting another record high today, and the nasdaq

. >> interesting rahel, what would you add?add, kelly, do yoga pants interest you because if so, maybe this is exciting this is based on the strength we're seeing at gap between the brands that are working, old navy and athleta, casual trend and yoga pants, which i love old navy doing good from back to school sales if banana public and old navy doesn't excite you, maybe yoga pants do >> this is a company that talked for the longest time about splitting this company up. we want to get old navy performing so well away from some of the underperforming brands this is a classic case of the portfolio approach working, right? because you have that athleta yoga side doing well and everything doing well for a long time now i wonder whether or not when things normalize, remember banana republic clothes have been a stapable for working professionals, especially younger ones when we do emerge from this pandemic, i feel like people going back to workplaces will want to go places like banana public so, maybe this is a nice portfolio approach

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as rahel points out, geopolitics are a larger part of the conversation looks like we're finally theren taper the supply crunches are not going away is any part of you looking for more chop rather than less >> carl, that's a great question all the things you described are well worried and markets actually do better when investors are worried and his tap hesitant because it is keeping cash on the sidelines and stocks can react to positive news that's the situation we're in today. we wrote about it earlier this week, but if you look at money market funds rates by retail institutions, retail investors were raising cash in august at a pace you haven't seen at all in 2021 and then if you look at things like sentiment, they got more bearish than anytime in 2021 i think we are definitely in a risk on environment. it is healthy to see this, but it is important for things to be on the margin better and that's what we're seeing right now. >> i wonder where you are too on 2022 s&p earnings. bamel does $215. they say we see downside risk to consensus eps amid rising inflationary pressure. dan nile

eastern back to you, scott >> rahel, thank you very much. >>> rahel solomon we mentioned our guest keith meister announcing the third spac deal with eli casdin. the life sciences emerging 3 qrx, reducing drug prices. keith is with us along with eli. nice to see you again eli. >> nice to be here. >> i'll allow you the first question on this because this is home cooking for you. you were an early investor in eq why this deal, why now >> i think the power of a spac platform is you can bring enormous capital to a true growth company and you know if it's a growth company if you give it more money and it goes faster and eqrx is one such business. this deal will bring about $$1.5 billion to the balance sheet of the company and allow it to accelerate the business model of disrupting the distribution mold model for drug development. bringing in innovative drugs partnering with payers and selling to patient as a discount this is the kind of thing we set out to do >> keith, is it harder to impress the market these days with deals like this i'm just noticing it's a touch below $10 which is the demar

kate rogers with covid's impact on students and teaches earn rahel solomon on the unvaccinated getting fired and steve liesman with the snap shot of the economic recovery. steve >> a strong jobs report that suggests more momentum in the jobs market than we previously naught and that could bode well for future hiring and wages, depending on whether restrictions are put in place, new restrictions that is, because of the delta variant not only were 943 jobs added in july there was 100,000 more than expected on the street but prior months also revised up another 120,000 jobs the leisure and hospitality sector led the way with strong growth in employment in bars and restaurants. hotels, amusement parks, gambling concert and america reopened for fun and needed workers to have it. wage gains up again for a third month. more than pa quarter million people dropping out of the workforce came back in still a long way to go 5.7 million jobs short of where we were before the pandemic. and there are 3.1 million fewer workers part of the labor force. getting the variant uncontrol and of course openin

let's get over to rahel solomon now for a cnbc news update rahel? >> hi, kelly here's what's happening at this hour united nations is responding guardedly to taliban pledges to protect women's rights and not seek revenge on people who opposed it a u.n. spokesman saying the taliban must follow up with acts on the ground to show that it is keeping its promises >>> meantime, in wisconsin the fort mccoy army base preparing to receive refugees from afghanistan. the defense department predicts up to 22,000 people could come to the u.s. in the next few weeks. fort bliss in texas also being considered as a temporary site to receive refugees. >>> grace is moving toward mexico after dropping as much as ten inxhz of rain on haiti many people in haiti still looking for medical help and shelter after this weekend's mag tieu 7.2 earthquake. and tonight getting aid to haiti and helping thousands who lost their homesback get back on their feet thavg airs tonight on "the news" at 7:00 p.m. eastern >>> take a look at this video in the nation's capital a perfect view

. >>> welcome back i'm rahel solomon. here is your cnbc news update this hour. new milestone on the vaccination front. 70% of adults in the u.s. have gotten at least one dose of the covid vaccine according to data published by the cdc it comes a month behind president biden's goal of 70% by the fourth of july meanwhile, federal help has arrived at a hospital in baton rouge, louisiana the disaster medical assistance team will provide support to the hospital in the midst of a covid-19 surge >>> hundreds of shopkeepers and hotel owners in karachi, pakistan, are protesting saying the restrictions are hurting their businesses the lockdown in the largest city began over the weekend and will remain in place until august 8th. and starting today home depot requiring all associates, contractors and vendors to wear a mask while indoors regardless of vaccination status. the rule applies to all u.s. stores the company will ask customers to wear a mask while in its stores the latest retailer to impose such a rule, we heard from equinox saying they are going to require their m

and also up 5.5%, shopify is currently in pilot mode, up 3.5% >>> now to rahel solomon >> here is what'spening at this hour. the caldor fire has burned more than 117,000 acres and remains only 9% contained. a 40-mile stretch of highway is closed and officials say it's unlikely to be reopened in the near future. >>> president biden has freed up federal aid to help with recovery efforts in tennessee. >>> to humphries county in the latest for the search for the missing. that airs at 7:00 tonight. >>> unvaccinated people in greece will be banned from certain venues. >>> charlie watts of the rolling stone, who helped build the iconic sound, died at a hospital in london surrounded by his family charlie watts was 80 years old >> rahel, thank you. a bullish call on gym rats, a reopening for casinos, a home boost for best buy all that cing omup in today's rapid fire we're back in a moment lease the 2021 is 300 for $379 a month for 36 months. experience amazing at your lexus dealer. (vo) this is a place for ambition. a forge of progress. a unicorn in training. a corner to build a legacy. a vision

julia, back to you. >> thanks re, rahel. >>> and a blackstone-backed media adventure acquiring reeserspoon's hello sunshine valuing at nearly $900 million joining us, kevin mayer along with former disney coo tom staggs thank you both for joining us today. >> thank you. >> thanks, julia. >> thank you. >> tom, kick it off with you what is this new company i understand you don't have a name for it, but what is it and what is your plan to what you'll build and how it's going to fit into the landscape >> something kevin and i worked on together for quite time and have tremendous conviction around value of great content that commands attention in the community and commerce opportunities that come from that, and hello sunshine, they create category-defined content. an audience that fits right into the center of that piece hello sunshine is really emblematic what we're doing here and the kind of business that we want to be a part of >> kevin, i want to get some light from you on valuation here $900 million where's the growth opportunity what is the total addressable market in terms of potent

up 30% time for a cnbc news update with rahel solomon. >> here is what's happening at this hour. an officer was stabbed to death after an incident just outside the pentagon officials say that a suspect was also shot by law enforcement and died on the scene. the pentagon was briefly placed on lockdown after shots were fired near an entrance to the building >>> another investigation into new york governor andrew cuomo the district attorney's office of albany county says it has an ongoing criminal probe into conduct by the governor. earlier today, new york's attorney general released a report saying that cuomo had sexually assaulted at least 11 women, cuomo denies the allegations. >>> the golf of oman, six oil tankers losing control around the same time earlier today. it means a vessel has lost power, but maritime experts say that it is extremely unusual for multiple ships to suffer engine troubles at the same time. the british navy did warn of a potential hijack of one ship, but it has provided in further details on that. >>> back to you. >> rahel solomon, thank you. >>> up next on

>>> welcome back i'm rahel solomon. here is your cnbc news update. the white house says there are no plans now for covid vaccine booster shots, though it's not endorsing the world health organization's call for a moratorium on additional doses until at least the end of september. the call is so more doses can go to poorer nations where many haven't received their first shots. >> we feel that it's a false choice and that we can do both we announced just yesterday we hit an important milestone of over 110 million vaccines donated to the world that is more than any other country has shared combined. we made clear that is the beginning. >>> san francisco health officials are allowing hem people who got the johnson & johnson vaccine to get a second shot of the pfizer or moderna if requested after consulting with a doctor stressing it's an accommodation not a rule change. >>> president biden will hold an event with chief executives to promote electric vehicles. the companies are expected to announce they're working to have electric vehicles account to 40%

rahel, thank you very much. >>> let's turn our attention to markets.p down, nasdaq up at this hour oil closing in a few moments crude is trading down a fraction in today's session here are some of the market movers today first up, a crypto schism. bitcoin lower and trading below $48,000 and ethereum is on the rise and adding 355% this year affirm shares are lower after massive gains yesterday. they announced a partnership with amazon but we're down 5% after yesterday's big pop. finally check out lendingclub. the name is up 10% today and it's reaping the benefits of low interest rates at a time when n nonbank lenders are thriving >> thank you very much, kelly. >>> ahead on "power lunch" the best alphabet. our next guest will tell you which name will come out on top in the clash of the tech titans. >>> we are awaiting a speech from president biden later this hour we'll ing atbrth to you live when it happens. we'll be right back with more "power lunch." new projects means new project managers. you need to hire. i need indeed. indeed you do. when you spons

. >>> welcome back i'm rahel solomon and here is your cnbc update on afghanistan. the pentagon spokesman says a number of u.s. marines why killed in the bomb attacks outside the kabul airport. the pentagon did not mention an exact number of casualties, but the wall street journal is reporting the number killed stands at four u.s. troops and 60 afghans the first american soldiers killed in afghanistan in a year and a half we are expecting more details from a pentagon news conference that was just scheduled for 3:00 p.m. eastern boris johnson says the attacks will not interrupt evacuation efforts and paid respects for the victims. >> members of the u.s. military sadly lost their lives and many afghan casualties as well. we extend our condolences both to the united states of america and to the people of afghanistan. >> and the taliban is condemning the attacks saying it happened in an area controlled by u.s. forces the taliban says it is paying close attention to security but it is unclear if the taliban did anything to thwart the attacks tyler, back to you >> very, v

but, first, let's get a news update with rahel solomon. >> here's what's happening at this hour.by far the largest loser in the dow industrials the retailer posting profits and revenues above estimates, but same store sales disappointed. home depot shares down 5% today, still up 20% this year, better than the s&p and rival lowe's. >>> retail sales falling more than expected in july, online sales dropped. 1.1% overall decline due in large part to falling auto sales due to dtight supplis for vehicles >>> home builders view of the housing market taking a big hit in august. a key index dropping to the lowest level in 13 months. sales expectations remain unchanged for the next six months. >>> shares of spirit airlines rebounding from losses of more than 4% this morning the stock bouncing back after the company said its massive recent flight disruptions cost the company about $50 million and led to more than 2800 flight cancellations. deirdre, the company saying that it plans to reduce flight schedule over the next month or so until the end of september perhaps to avoid further frustra

. >>> welcome back i'm rahel solomon here is the update at this hour. the pentagoning was locked down as police responded to shots fired on a bus platform near the building the role fire department reported there are multiple patients, although no further details released we know, however, the lockdown has lifted. >>> no response from new york governor andrew cuomo. he is scheduled to speak pat 1:00 p.m. eastern. after an investigation overscenes by the state's attorney general found that cuomo harassed at least 11 women current and former state employees including a state police trooper >>> governor cuomo's administration for the fostered a toxic workplace that enabled harassment and created a hostile work environment where staffers did not feel comfortable coming forward with complaints about sexual harassment due to a climate of fear and given the power dynamics >>> and tonight on the news with shepard smith, a look at why new york's ag does not pursue legal charges against the governor pivrmts inchts microsoft joining a list of companies requiring p

. >>> welcome back to the "halftime report" i'm rahel solomon here is our update at this hour. the taliban says that it will not seek revenge on the people opposing the group spokesman saying all are forgiven including interpreters soldiers and others working with foreign powers, pledging to respect women's rights within the framework of islamic law we should say afghans and human rights organizations remain skeptical after the taliban's brutal reign in the 90s. >>> secretary general stoltenberg is blaming the afghan country leadership and saying nato as has lessons to lrn. >>> more u.s. troops heading to kabul to speed evacuations and discussion with the retired admiral involved with the war in afghanistan more than a decade, tonight at 7:00 p.m. eastern. >>> and iran accelerated its enrichment to you're on upto weapons a grade according to a nuclear watch dog seen buy reuters. doubling the number of centrifuges being used for the highest levels of enricherment. >> appreciate that, rahel. >> i mentioned the new note from jonathan krinsky, joins us on the phone. they ran the no

heim ammo rahel solomon here is the cnbc you want update at this hour president bide isn't reportedly saying he will stick to the august 139s deadline to put pull out troops but the u.s. telling the taliban that the august 31st pullout will only happen if the group helps with evacuation efforts. biden has asked for contingency plans. >>> a key health panel recommending that screening start soon are for adults. the u.s. ep ref task force says testing should begin at 35 instead of 40 for people obese or overweight. >>> the aclu suing south carolina on a want on school mask mandates filing on behalf of students are disability and others at risk of become attention seriously ill if they contract covid the aclu says the ban and mask mandates disproportionally effects at risk students on the news the rising number of covid cases among children and what's being done to fight it, airing tonight at 7:00 p.m. eastern. back to you. >>> thanks, rahel. >>> turning to the flunk sector oil pushing higher and energy stocks in the spotlight. the top performing sector gaining nearly 5%. josh kiko kicki

if it were my -- we should interview her parents, rahel, because i have a few questions >> why >> that's my question. why? >> i mean, you know, it would be really cool if she does it i think the current record for women is 30, the last person who did a flight around the world was 30 years old so, she would make history so, that's a pretty good why >> absolutely. give her a lot of credit very brave i don't like flying. >>> still ahead crypto adoptions soaring around the world, but one firm says don't get wildly bullish just yet plus drama in didi's board rm.oo you can get it any time by listening to and following "the exchange" podcast. we're back in a moment >>> welcome back, everybody. let's catch you up on a couple more stories 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

eastern. >>> rahel, thank you coming up, it's a sector showdown in rapid fire today which booster shotill see the biggest boost, a consumer focused ipo buyoff and bank buybacks reign surprise. we'll explain next yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ >>> welcome back, everybody. let's catch you up on a few stories that should be on your radar right now. it's time for rapid fire and we're doing sector battles today. here to battle it out, mike santoli, the ceo of gracile global, very nice, and nancy tangler. so, next we need santoli capital to round things out. >> try to avoid that >> a tale of two retailers dick's is soaring, as the ath leisure trend continues. sales were 45% higher than in the same quarter of 2019 just unbelievable. a different story for in nordst. sales remain below 2019 levels so, nordstrom or d

i'm rahel solomon. at this hour the ncaa slapping baylor university with a four-year probation and other sanction ppz this follows a yearslong investigation into a sexual assault scandal that led to the firing of the school's football coach and others the probe found that baylor shielded football players from discipline for sexual violence but that baylor's failings did not violate ncaa rules the probation is related to recruiting and other violations. >>> a federal judge has ordered donald trump's accounting firm to turn over some financial records of the former president to a house panel although the judge is not ordering that all requests documents be released. >>> in california the dixie fire continuing to grow after destroying nearly 550 homes. the largest fire in state history has now destroyed more than half a million acres. however, containment has risen to 30% >>> and on the news, firefighters making progress against the massive fire just as heat and higher winds return that's tonight at 7:00 p

i'm rahel solomon.casters from colorado state are now expecting two fewer named tropical storms this year. they are expecting 18 during the atlantic hurricane season. researchers still expecting above average season for storm activity in california, the dixie fire has now burned more than 500 square miles, including much of greenville it's a small town that dates back to the gold rush. roughly 5,000 firefighters are working to contain the wildfire. >>> and on the news, the fire that refuses to be tamed the latest on western wildfires tonight at 7:00 p.m. >>> and shares of tencent hitting their lowest level in more than a year even as wechat starts signing up new users. it was halted last month to upgrade security technology in line with government policies. >>> an olympic sprinter from belarus explaining how she avoided being forced on a plane home she used her phone to translate a plea for help and showed it to japanese police in the airport who took her away from belarusian officials >> tech to the re

from elon musk to tim cook, we will discuss, but, first, a news update, let's get to rahel solomon. >> good morning. here's what's happening at this hour new home sales increased in july after three months of declines median price of a new home is over $390,000, that's up more than 18% from a year ago. >>> best buy says that demand for work from home computer equipment will remain strong the retailer raising its annual sales forecast and posting strong q2 profits, best buy shares up more than 6% this morning. >>> cigna on the rise. the insurer will spend $2 billion on accelerated stock buyback plan shares still down 20% from their may highs, but the stock is positive on the year. >>> and mcdonald's announcing a slew of promotions including a new global chief marketing officer and some new heads of their international markets. the moves come a month after mcdonald's created the position of global chief customer to try to improve its digital and in person customer experience carl, back to you. >> rahel, thank you very much. >>> it has been ten years since steve jobs stepped down and tim

. >>> let's get a news update, rahel solomon's got it. >> good morning.ere is what's happening at this hour treasury bond yields continuing to rise after producer prices jumped a full percentage point in july, wholesale prices up 7.8% over the last year. that's the biggest annual gain on record for data going back to 2010 nearly three-fourths of the july increases caused by rising services. >>> job openings are at a record high continuing claims fell below 2.9 million for first time since march of last year. >>> the world will consume less oil this year because of the rapid spread of the delta variant. that's according to the international energy agency which is lowering its oil demand forecast for 2021. the agency says that rising covid cases are slowing the global economic recovery. >>> and verizon trying to lure new wireless and cable customers with a free year of the streaming service. customers must buy a new 5g phone on a payment plan or sign up for fios home internet to get the offer. >>> back to you. >> rahel, thank you. >>> a 76% jump in revenue

rahel solomon. >>> the investment committee making moves let's start with you, rob.'ve got two new positions tell us what they are. >> so, madison square garden entertainment, msge, we bought their opportunity port foal toe last friday as a way to capitalize on the trade. it's been an unbelievable performer since then up 20% it's a diversified live entertainment and restaurant company centered in new york city, las vegas, chicago a lot of those businesses are run by some of my friends there. they're unbelievable operators jason strauss, matt strauss, tepper burke, really know what they're doing in this space. we like msge based on attractive valuation, trades at less than one time book. it was 40% off its year-to-date high so, even though it's up a ton this week. we i think there's a lot of room to go in this reopening play then we added in our dividend portfolio last monday -- on monday, actually, eog resources, which is a shale producer that offers a combination of an attractive valuation and at nine times next year's earnings, 10% free cash flow yield and 20% divi

. >>> welcome back i'm rahel solomon. here's our cnbc news update. the biden administration is expandin afghan citizens as taliban violence increases more people will qualify for refugee status, although new applicants must leave afghanistan to actually begin the process. >>> meanwhile, the president of afghanistan is blaming the quick u.s. withdrawal for the taliban's rapid advance. he says that afghan forces will now focus on protectin advances. >>> in turkey, at least eight are now dead in wildfires that have been burning for nearly a week officials say more than 10,000 people have been evacuated the eu has sent water-dumping planes to try to help contain the fires. >>> more wildfires burning in italy and greece and the parallels to the fire and heat waves that have scorched the western u.s. that's tonight at 7:00 p.m. eastern. >>> at the olympics, the u.s. baseball team has lost to japan. the u.s. held the lead into the ninth inning, but japan went ahead in the tenth the u.s. team can still make it into this weekend's final if it wins its next tw

just sad as can be >> let's get to rahel solomon. she's got our news update at this hour. rahel? >> hi, kelly hi, tyler. here's what's happening at this hour the u.s. is sending aid to haiti after a 7.2 magnitude earthquake killed 1,300 people and left thousands more injured with limited health resources the 14-person task force will assist personnel on the ground >>> malaysia's prime minister and his entire cabinet resigning after just 17 months in office the news comes amid public outrage over the country's handling of covid-19 the nation is currently battling its worst wave of the virus yet with more than 20,000 cases being reported each day. >>> pfizer and biontech have submitted preliminary data to the food and drug administration as part of the authorization process for a third covid booster shot federal regulators have yet to recommend booster shots for the general public >>> and new york mandating vaccines for all hospital and nursing home workers in the state. under the new policy health care personnel will have until september 27th to get their first dose you're now up

back to you. >> i can attest to that too, rahel.hat >>> back to the square after pay acquisition news, let's bring in a major payer in the buy now pay later space, $46 billion, joining us now is klarna co-founder and ceo sebastian siemiatkowski. it is great to see you again especially on the back of this news what do you make of this deal? does this stiffen competition for yourself growing your footprint in the u.s. >> well, i think, look, i think it is very natural we're looking -- we believe strongly and i believed for a long time this decade is going to be the upheaval of this banking industry we're going to see a lot of new player coming, finteches are growing. banks are trying to reinvent themselves and we have as also recently announced the big tech fair is trying to move into space. this is an extremely exciting time i'm a little bit surprised to see consolidation happening this early at this level. but from that perperspective, b think it is directionally what we're going to expect to see banking industry is a trillion dolla

. ♪ >>> welcome back i'm rahel solomon. here's yourcnbc news update at this hour.loodwaters still trapping scores of residents in coastal louisiana. across the state nearly half of all electricity customers are without power. that includes the entire city of new orleans. officials say it will take days to restore power and this just in exxon shutting its baton rouge refinery untilelectric power i stable it's one of the largest in the state. >>> health and human secretary becerra has declared health emergencies in louisiana and mississippi. >>> and more crews are heading to louisiana to help with rescue and recovery efforts task forces from massachusetts, new york and connecticut are all on their way >>> tonight, team coverage of hurricane ida. getting help to survivors and re-establishing basic services that airs tonight at 7:00 p.m. eastern. >>> the european union has taken the u.s. off of its safe travel list it is recommending that countries restrict nonessential travel by americans. the decision does not immediately limit travelers from the u.s. and individual

apple 2.25% let's get a news update with rahel solomon. >> good morning, everyone.ere's what's happening at this hour tropical storm ida is maintaining strength, sustained winds still 40 miles per hour. continuing its slow pace north through mississippi. manufacture many of the storm warnings have been discontinued in louisiana louisiana search and rescue and damage assessment is speeding up governor edward says 1600 people have been deployed state wide to find and help survivors. more than a million people without power, half of all utility customers in the state so far the port ofnew orleans says it found no major damage to its commercial facilities. >>> the pentagon says it has now helped evacuate more than 122,000 people from afghanistan. that's as isis-k claimed responsibility for a rocket attack on the kabul airport. military officials report no american casualties. a senior general says they are, however, ready for more attacks. >> forces retain the inherent right of self-defense and are authorized to meet threats with the swift and forceful response. force p

i'm carl quintanilla with jon fortt and deirdre bosa and julia boorstin a news update with rahel solomon. >> good morning, everyone. here is what is happening at this hour. new york city will require proof of vaccination for indoor activities applying to restaurants, bars, gyms, entertainment venues the new rules go into effect on august 16th. new york is the first major u.s. city to impose such restrictions >>> american automakers are bringing back mask mandates. the big three automakers and the united autoworkers union saying the wearing of masks will be required at all u.s. plants, offices and warehouses starting tomorrow >>> shares of clorox down 11%, worst daily loss in 20 years sales are disappointing and profits have fallen sharply from pandemic highs the company also says that manufacturing an logistic costs are rising. >>> and spirit airlines is canceling many flights again this morning nearly 300 flights, about 40% of spirit's schedule, so far today have been canceled the airline blaming weather and operational issues american airlines is facing similar issues it canceled 280 f

back to you, scott >> rahel, thank you. >>> let's talk about the moves everybody makes today.ny, you bought more of a couple of things lumen and unum tell me >> they reported earnings. and the earnings numbers were good but in the conference calls there were things people picked on in the un muchlt long-term charges to the care block. with lun emit came down to skepticism about the maintenance of the dividend in the future. the stock sold off a ton they are both under ten times earnings with reasonable earnings growth ahead. i added to them for clients with new accounts with new cash who didn't own them already. i was safe to buy them at discounts yesterday >> okay. steve weiss, you're looking to buy a little more skyworks we should had the hit you on corvo too. was flat earlier this morning. up a couple percentage points the last time i collected. you can tell me about skyworks you're looking at and corvo which i believe you still own >> i do. i have core positions in both. and i traditionally trade around the core positions, not selling the core but adding to them when there

. >>> time for a cnbc news update with rahel solomon >> hi, wilf. a former u.s.says the taliban is not keeping its promise to allow women to go to school and work. women are being terrorized and having trouble finding safe places to stay >> it has been absolutely harrowing, moving the women to the checkpoints. that perimeter around the airport has been extremely dangerous. they come -- guaranteed their exit and for one reason or another, they can't get through. there have been -- there's been lack of coordination >> and in minnesota, the u.s. forest service extended the closure of a popular wilderness area after the state's largest wildfire doubled in size the greenwood fire has burned more than 21,000 acres four new smaller fires have started in the area this week. >>> in kentucky, mitch mitch mcconnell urging people to get vaccinated and warning them not to listen to vaccine untruths on social media he said it's a fact that 90% of people hospitalized for covid are unvaccinated sara, back to you. >> rahel solomon, thank you. >>> just under 30 minutes before the

rahel has the update. >> here's what's happening the biden administration saying it expects global supplytions as the delta variant continues to spread aroundthe world. white house press secretary jen psaki says they haven't seen direct effects, but they do expect issues to develop >>> bike enthusiasts are up from half a million people. experts worry the rally will again play host to coronavirus infections, in a county where only 40% are fully vaccinated. >>> in houston a high-speed car chase ending in a pool the driver let officers on a high-speed chase that went to a watery end police did apprehend a passengers, but apparently the driver is still being sought back to you guys, scott. >> rahel, appreciate it. >>> after the break, the second quarter recovery for the instrument has progressed, but will it -- we will have the ceo and will do it next. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... t

hi, rahel. >>> here's what's happening. united states calling on the taliban to hold its effort that's captured much of afghanistan it says the taliban should go back to the negotiating table or face consequences from the rest of the world. >> the message from the international community to those on the warpath must be clear seizing power through military force is a losing proposition, that can not only lead to prolonged civil ware -- war or to the complete isolation of afghanistan. >> lawmakers say they will suspend their impeachment investigation of governmentor we'llo when he steps down. >>> and more than a million americans got extra vaccines, according to u.s. health officials. it's unclear how many of the people who received an extra shot are actually immunocompromised. back to you. >> thank you, rahel. >>> up next, get ready for christmas if august. the ceo of the apparel and footwear association says you better do your holidays shopping now. >>> speaking of shopping, tonight at 6:00 p.m., a special edition of "fast

from their limits or while in the venue itself the gaming is coming, it is here you can play along rahel, good to be with you again. >> always. >>> "closing bell" starts right now. >>> welcome to the "closing bell," everyone. i'm wilfred free throwsed, a mixed session with the down -- white the nasdaq pulls back. >> and i'm morgan brennan in no sara eisen first of all, the senate passes a infrastructure bill which includes $550 billion in new spending that's boosting construction plays like steel energy stocks names like marathon, and treasury yields moving higher. that's pressuring the nasdaq tech is among the worst-performing sectors today, chip stocks in particular are getting hit as well. we have 59 minutes left to go in the trading session. >> coming up on today's show, national economic counsel up director bright at an-- brian de will join us, and we're counting down to coinbase's report after the bell >>> mike santoli is tracking the market action with record highs in sight ylan mui has the latest on the infrastructure deal in washington, but pike. >> we have oaf one of these days

that goes to show you how much it will play in that >>> rahel, great to be with you. thanks for watching everybody. we enjoyed your company. "closing bell" starts right now. >>> welcome to the "closing bell," i'm wilfred frost the major averages are mixed to kick off a new trading week. the dow is down fractionally as we head into the final hour of trade, but the nasdaq is holding on to slight gains. >> i'm courtney reagan in for sara eisen energy is the worst-performing sector in the s&p 500, as oil prices retreat on global growth fears. but also having an impact on reopening stocks cruise names, airlines pulling back while vaccine makers are getting a boost. crypto is another bright spot, crossing above $46,000 for bit bitcoin. 59 minutes left to go in the session today. >>> coming up on today's show, we will speak with the ceo of ticketing company eventbrite, about rising concerns of the virus, and new orleans scraps its event and new york's auto show is scrapped >>> getting a nice lift today. mike santoli is back, tracking all of today ace market action and ylan m

he looked like he was in a circus tent of some form >>> rahel solomon, where is rahel?>> no, no, not quite in headquarters in inglewood cliffs the pentagon is saying it's working to get all americans out of the afghanistan by the august 31st deadline. prime minister boris johnson expected to push for an extension. >>> the police officers who fatallily shot ashley babbitt has cleared. an internal probe found the officer was acting lawfulfully and following department policy. federal officials also cleared him of any wrongdoing. >>> a judge says they will allow tens of thousands more felony offenders to vote, though an appeal is likely >>> and nbc is starting its annual clear the shelters campaign the month-long effort seeks to find homes for pets in shelters. maybe add a furry friend to your family sara, back to you. >>> energy the best-performing sector as crude oil breaks a seven-session movement we'll that you can to jeff currie about the move. >>> plus we'll get earnings results from palo alto networks. we'll break down the numbers as soon as they cross the stock is

rahel solomon has it for us. >>> here's what's happening at this hour. expected it made landfall in the eastern part of the for a florida panhandle. it's expected to move into western georgia, and lose strength quickly. >>> in california, ballots are going in the mail for the recall election of governor newsom. leading republican candidate larry elder says he w-- on the news, more fights over masking up in schools and how some schools are closing because of the covid outbreaks. that's at 7:00 p.m. eastern. >>> the cdc is raising travel warning to turkey to its highest level because of covid cases, and lowers its advisory to india down to moderate >>> the voting wasn't even close. alabama was voted as the best by three fourths of all reporters polled in the ap. >>> up next here, on "closing bell," eric rosengren is call on the federal reserve to start tapering in the fall. >>> and night novogratz will join us. that's coming up on "closing bell." comcast nbcuniversal is investing in entrepreneurs to bring what's next for sports technology to athletes, team

. >>> time for a cnbc news update with rahel solomon. >> hello, everyone in california, the dixie fires getting new life from dangerously windy weather. warnings call for wind gusts up to 40 miles an hour through midnight the fire has burned more than 6,000 acres you now approaching susanville where some 50,000 residents have been told to get ready to evacuate. >>> some schools are requiring athletes to get vaccination nated or undergo weekly testing. last week chicago's public schools man at a timed teachers and staff get vaccinated or be tested regularly. >>> david sackler said they will not pay billions into an opioid legal settlement unless they are shielded from future lawsuits. the bankruptcy trustee, nine stapes and the district of columbia object, because it would give legal protection, even though noner declaring bankruptcy you're now up to day. >> rahel, we have about 29 minutes left to go before the closing bell here is where we stand in the market, down about 324 now on the dow, nasdaq taking the brunt of the selling small caps getting slammed again. the only sector in the

that goes to show you how much it will play in that >>> rahel, great to be with you.company. "closing bell" starts right now. >>> welcome to the "closing bell," i'm wilfred frost the major averages are mixed to kick off a new trading week. the dow is down fractionally as we head into the final hour of trade, but the nasdaq is holding on to slight gains. >> i'm courtney reagan in for sara eisen energy is the worst-performing sector in the s&p 500, as oil prices retreat on global growth fears. but also having an

i'm rahel solomon and here is your cnbc business update. vaccine mandates now that the pfizer shots have received full approval louisiana state university is requiring all students to get vaccinated the order affects more than 30,000 people, only about 39% of louisiana residents are vaccinated it's one of the lowest rates in the country. >>> new jersey governor phil murphy announcing teachers and state workers will have to get their covid shots or undergo regular testing. new jersey the fourth state to require teachers to get vaccinated >>> and mayim bialik will fill in on the "jeopardy" shows taped this week, a total of 15 episodes the first guest host after mike richards stepped down over offensive remarks that he made in the past. i'll send it back to you >> and let's take a check on the markets. we are off the highs of the day. the dow as you see right there up 268 points. the s&p and nasdaq hit an interday high earlier. still up 1% and almost 1.66. trillium surging nearly 200 points duolingo shares higher, getting multiple wall street

. >>> welcome back i'm rahel solomon. here is your cnbc news update this hour. more than half of florida's 2.8 million public school students must now wear a mask in their classrooms school districts defying a ban from above ron desantis. the board voted for a mandate after nearly 2,000 students tested positive since the school year began also in florida, funeral homes working day and night to honor the dead, one says the influx of bodies is worse than during the first wave of the pandemic >>> south dakota attorney general taking a plea deal for charges in a fatal hit-and-run last year. prosecutors say he will avoid trial. details of the plea agreement have not been released >>> and an appeals court has upheld the conviction and sentence of the first person in the u.s. to get the death penalty for a hate crime dylann roof was found guilty when he opened fire on a bible city group his crimes, quote, qualify him for the harshest penalty a just society can impose kelly, back to you >> thank you very much >>> let's turn back to markets the dow is hanging on to about

to watch the nasdaq hit another intraday record high this morning at 1534 a news update first with rahelolomon. >> good morning, everyone. what's happening at this hour -- delta is taking a different approach to getting workers to get their covid shots. starting november 1st, the airline is raising health insurance costs for unvaccinated employees by $200 a month. also have to undergo weekly covid testing starting september 12th. >>> shares of dick's are the intoing good soar into an all-time high. retailer announcing special dividend, 20% increase from regular dividend and improved full-year guidance. >>> and orders dipping 0.1% in july restricting production as well. >>> s.e.c. shut down an investment advisers claimed was running $110 million ponzi scheme a judge frozen assets of southport capital and horizon, private equity, invested little and paid much of the funds back to early investors. >>> up-to-date back to you, jon. >>> a good afternoon if you like cloud gazing salesforce, jpmorgan expects a healthy q2 with improving metrics acknowledging a tough comp and noisy metrics for abo

rahel, thank you >>> just under 30 minutes before the close. stand in the market some pressure. the dow down about 0.75% nasdaq still holding on to some gains up 0.1%. the s&p lower by about 0.3%. tech and communication services are the only green sectors >>> after the break, the ceo of cvs health joins us to talk about the earnings report. >>> also with the new minimum wage and how covid vaccines are impacting their business it's her first broadcast interview since taking the job, coming up next >>> another check toward robinhood, up 41.4%. we'll be right back. sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today. hey lily, i need a new wireless plan for my business, but all my emp

sara, back to you. >> rahel, thank you. >>> we've got just under 30 minutes to go before the closingave taken a turn south, down to 118 on the ten year the nasdaq is higher and outperforming and so are consumer discretionary and financials a otd day. but tech is outperforming a bit. after the break, schoolhouse stocks, retails are preparing for a back to school season unlike any other as students across the country return to the classroom. we'll talk to the ceo of kohl's about the challenges and opportunities facing the sector next this is how you become the best! [wrestling bell rings] [music: “you're the best” by joe esposito] ♪ try to be best 'cause you're only a man ♪ ♪ and a man's gotta learn to take it ♪ ♪ try to believe though the going gets rough ♪ ♪ that you gotta hang tough to make it ♪ ♪ you're the best! around! ♪ ♪ nothing's gonna ever keep you down ♪ [triumphantly yells] ♪ you're the best! around! ♪ [ding] don't get mad. get e*trade and take charge of your finances today. ♪♪ - [announcer] dearest smoke shacks, defenders of the dry rub. thank you for giving your all to a