retailer gap has bought 73 warehouse robots to help with demand created by online orders.se sort picking robots can pick 335 pieces per hour. and finally this week, we saw a new cable driven robot that can be used to interact with and track flying insects. researchers say the "lab on cables" allows them to successfully match the movement of bugs in flight, allowing them to study them untethered. so, earlier lara spoke about the alternatives to going to physical shops but there are sometimes situations where you do want to visit a store or maybe a tourist attraction and then the main worry is staying a safe distance from the other visitors. so how about this? visitors to florence cathedral in italy are now being asked to wear something extra as they admire its famous dome. these devices use ultrawide band radio signals to judge how far away each is from the others. if a visitor to the cathedral or the museum inadvertently draws too near someone else, the light that here you see absolutely still, will begin to move and there will be an audible sensation, a kind of buzz. mean

retailer gap has bought 73 warehouse robots to help with demand created by online orders.lly this week, we saw a new cable driven robot that can be used to interact with and track flying insects.

retailer gap has bought 73 warehouse robots to help with demand created by online orders. we saw a new cable driven robot that can be used to interact with and track flying insects. researchers say the "lab on cables" allows them to successfully match the movement of bugs in flight, allowing them to study them untethered. so, earlier lara spoke about the alternatives to going to physical shops but there are sometimes situations where you do want to visit a store or maybe a tourist attraction and then the main worry is staying a safe distance from the other visitors. so how about this? visitors to florence cathedral in italy are now being asked to wear something extra as they admire its famous dome. these devices use ultrawide band radio signals to judge how far away each is from the others. if a visitor to the cathedral or the museum inadvertently draws too near someone else, the light that here you see absolutely still, will begin to move and there will be an audible sensation, a kind of buzz. meanwhile, this gallery in new york state is planning to use the same device to

like many retailers, gap is struggling with the pandemic. the company suspended some rent payments.cials say the coronavirus pandemic is raising risks of other diseases. the united nations and the international red cross say at least 80 million children under the age of one are it risk of diseases like measles and polio, and this in world's poorest companies are being hit the hardest. and that is your bloomberg business flash. guy: thanks very much, indeed. the british prime minister is hosting a global vaccine summit toht now, urging companies alliance tobacked get vaccines developing countries. i say it's really important because there is a great debate raging about making sure that everybody gets access to a vaccine for covid-19 in a fair and equitable way. how important is this conference, therefore? you think there is any chance that could happen? well, the most interesting thing about this with boris johnson being one of the people who has been pushing for this is that actually, there are two ways of ensuring that countries can all get access, and one is to create a level play

is suing the gap for skipping its rent payments worth $65 million. it's not the only retailer struggling >>> breaking just now, the nba board of gophvers approving a 22-team format set to resume at 'le end of july. wel have much more on this story straight ahead as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will - you can rely on the people and the network of at&t... to help keep your business connected. hellbut you already itknew that.. and i've got some tips to help you get through these challenging times. first, practice physical distancing. i'm sorry, i did not see you there. i've been doing it my whole life. or there. plus, there are lots of things you can do at home. like, stay active with some sick dance moves. be daring. and whip up a new dish. i love the combination of gummy bears and meat. you can do video calls for all of your important meetings. what? sorry. or just have some

to buy it logger, with that weaker dollar, why is gold not higher we're looking at two names in retail gap and signet jewelers. we also like masco and zylem that touches the water space, but you'll see additional rotation out of the financials, out of the nasdaq 100 names, so i think there's opportunity. >> opportunity to buy those stocks a lot lower today it's great to have you both here, guys thank you. >> thank you. >> >>> jeff kilberg and peter boockvar let's go back to rick santelli for the results of that auction. i hope it went off a bit better, rick >> you know, i was generous. i gave this auction a c-mine news let's go over the details. it's reopening of 30-year bonds. 19 billion to be exact the yield 1.45 that was definitely on the high side of where it was trading, but it didn't really spike out too badly. all the internals are just slightly below average 62.2 on indirects is actually the weakest since just february of this years, so not so star back 13.3 on directs. maybe the most enlightening aspect is that dealers took about 24.45% of the auction. that's the most they have ta

. >>> and there could be a change in the helm at sec >>> and a struggling retailer the gap to what is the only overrated rating on the street we have those details coming up. ever since we've gone mobile on the now platform, something's gotten into the office. i hear you. feels like there's no barriers between departments now. servicenow. the smarter way to workflow. with spray mopping to lock away debris and absorb wet messes, all in one disposable pad. just vacuum, spray mop, and toss. the shark vacmop, a complete clean all in one pad. can i find an investment firm with a truly long-term view that's been through multiple market cycles for over 85 years? with capital group, i can. talk to your financial professional or consultant for investment risks and information. talk to your financial professional or consultant yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds

all time high for february as wall street rebounds, the rent is still too high for a lot of big retailers gap is the latest unable to make its payments power lunch starts right now

clothing retailer gap lost almost a billion dollars in the three months to the end of may.% in after hours trade. luxury carmaker bentley is to cut 1,000 jobs in the uk, about a quarter of its workforce. the firm is expected to offer workers the chance to take voluntary redundancy. the move comes as the car industry faces a sharp drop in sales due to coronavirus, but bentley has also struggled to be profitable in recent years. stay with us on bbc news, still to come: pulling down the statues of america's slave—owning past confederate monuments are removed in the wake of protests. the queen and her husband began their royal progress to westminster. the moment of crowning, in accordance with the order of service, by a signal given, the great guns of the tower. tributes have been paid around the world to muhammad ali, who has died at the age of 7a. outspoken but rarely outfought, ali transcended the sport of boxing, of which he was three times world champion. he was a good fighter and he fought all the way to the end, even through his illness. yes, he did. uefa imposes an inde

retailer gap has posted its worst loss in 50 years. million hit in the last quarter. sales went down 43% despite strong online transactions. >>> taking a look at the roadways right now, we have a couple of trouble spots if you're headed toward sfo this morning, there is an accident near the airport, that exit there. we are seeing a backup as a result. in that area, self 101 we have a crash there as well. brake lights headed into redwood city and again for the crash on the northbound side of 101 and as we jump across the bay 880 into hayward, but earlier crash now clear to the shoulder. mary? >> okay, are you ready for a cooldown? it is here. the onshore flow is back and temperatures will be much cooler about 10 to 20 degrees as we had through our day. and breezy along the coast with those westerly to southwesterly winds, cooling us down for sure. mid-70s in concord and san jose, mid-60s >>> welcome back to "cbs this morning." the federal government's monthly unemployment report just out this morning is a huge surprise after the damage

example just after hours today after trading hours we got the new quarter really results from the gap so the retail chain and their revenue in the past quarter dropped by more than 40 percent so the economic hardship is so immense that at the end of people just a longing for a reopening their businesses and actually there's also some criticism in cities like new york for example because of the curfew businesses have to close much earlier than usual and that ended time was the penn demick where hardship is already immense korda thank you. let's take a look at some of the other business stories making headlines around the world lou phones us living out of germany's blue chip index dax that's according to its operator. the coronavirus pandemic has all but wiped out blue tons of revenue in recent weeks and driven down its share price last week the government agreed to a 9000000000 euro rescue package for the carrier h.s.b.c.'s back to a controversial new security law that triggered angry protests in hong kong management said the measures would stabilize social order in the city which is just b.c.'s big

. >> so gap to be far a from the only retailer behind on the rent payments, but it is simon property's biggest tenant and they want to get paid so they're suing gap inc for $66 million in missed rent. gap in krrkc said it hadn't madt payments and it is just starting to reopen some of those stores in a statement to cnbc, they say we remain committed to working directly with our landlord or agreeable solutions and fair rent terms just as our hundreds of industry and government partners have sat with us in good faith to shape the post ko landscape. ious are everywhere. victoria's secret, foot locker, their working on negotiating some retailers take one to two months for merchandise, they're not paying them for about six months some shopping center owners have collected as little as quarter, others close o 70% all trickling down to commercial real estate. the retail delean quincy rate is spiking 6.5 percentage points from april to more than 10% in the month of may according to trip commercial real estate data wilf, back to you. >> courtney, last week, the pushman and wakefield ceo told us

retailer gap says first quarter sales fell 43% the company's ceo said sales continue to decline into may but online growth soared more than 100% during the month. 1,500 stores are back open leading above old normals held by old navy. and gap cfo said they are in active and ongoing negotiations with landlords to work through this crisis together becky. >> this is such an interesting story. simon property groups, the largest mall operator and gap is one of its biggest tenant. it's just what is going to happen again and again and again. you can shut things down and say we are going to take a pause and wait but no money came in to those retailers but what do you do if you are one of the rets or the property manager do you get stuck holding the buck on that or does it go up to the banks? those companies will have a hard time there is no such thing as everybody take a break and pause and everybody wake up and nothing has gone on. you can't do something like that time does march on somebody is going to have to pay for the short fall that comes from this. my guess is that gap is saying we ar

gap and other major retailers have said they would not pay rent for stores that were forced to close during the pandemic. meanwhile, gap sales plunge 43 % this latest quarter. we reached out to the company for comment on the lawsuit have not heard back.>>> the popular bay area restaurant change has reached a settlement in a class- action lawsuit brought on by a group of employees. in their suit, workers from burma superstar restaurants which includes burma love and beef start claim they were not paid overtime or sick leave. they were not given proper breaks. the chain has locations in oakland, alameda, san francisco. this week, a judge issued a $1.3 million settlement in favor of those workers. in a statement sent to the east bay times, the ownership groups say while we strongly disagree with the allegations in the class-action lawsuit, we settled the lawsuit in order to move on. >>> still ahead, the story ♪ here's what we want everyone to do. count all the hugs you haven't given. all the hands you haven't held. all the dinners you didn't share with friends. the trips you haven't take

two weeks ago we were talking about the retail sector. buying gapk at some of the software names these are names like amgen, horizon therapeutics a sense of urgency as well as technology is going to persist we sold you this week for the first time in a year and a half. we have checked and harvested gains in utilities and walked away from the consistent prudent approach of owning utilities. >> i would have been more interested if you said you were selling big tech >> no. our models are telling us it's time to put on more data staying above the averages, showing relative strength. we are walking into the higher beta names by the end of the day, we are selling utilities for a reason, kelly. >> do you know anyone who wouldn't want to own facebook, amazon, google. >> no. it continues to dominate we see them being a player looking at force, looking at oracle names you wouldn't think of typically. these are names that will profit in the wake of covid-19. people are finding more and more software solutions adobe is another great name. the sub sector will co

the mall operator is now suing gap for more than $65 million in unpaid rent. the clothing retailer is its biggest tenant. gap stores up nearly 2% but as covid-19 takes a toll on much of the retail world, simon properties group ceo david simon, and that stock is up 6%, has been pretty firm when it comes to all tenants paying up, saying on his may 11th earnings call quote, we do have a contract with them and we do expect to get paid. to the double hit from covid and looting, it's got lvmh reportedly rethinking its purchase of tiffany's. reports are swirling that louis vuitton is looking to renegotiate the $16 billion takeover of the iconic american jeweler. shares are down half a percent. tiffany is up half a percent. sources say tiffany may sue if lvmh starts to balk or tries to get a discounted price. >>> the pandemic has been good for costco. the membership warehouse retailer reporting an increase in may same store sales and digital sales more than doubled from a year earlier. that stock right now up 1.5% but jmsmucker down 4.7% as investors may rotate out of the pantry pepper tra

we would not buy the have-nots of retail, macy's, kohl's, gap, tapestry to name a few names. we would not be buying airlines. they're too cyclical. they're for traders. not investors. we're investors. avoid energy as well. we might get a rebound in energy, the long-term of dynamics of supply and demand do not favor this industry in our opinion. beware of value traps. ashley: no retail, no airlines. leo, let me bring you in then, what do you like in this environment? what are you going for? >> well i think you have to take somewhat after barbell approach. everybody likes big tech. everybody likes what worked. the problem when price runs up that high, future returns are diminished by the very nature of the runup. for an investor to achieve long term returns you have to start to invest beyond the next few months in this immediate downturn, start to look at some financials, some of the cyclicals, some of the areas that maybe have a bit more risk and of course that's where being active in that market, being very careful, where you make those picks becomes very important. but, if y

when the opening bell rang this morning, many retail stocks including gap, macy's, as well as a lot ofs start welcoming back shoppers, seeing stocks doing well. we want to tell you an update, we don't have a live look at the board, but to let you know, the dow jones is up a little bit. the nasdaq very close to 10,000 again, up about half percent. 9999, and the s&p 500 up as well. australian airlines, canceling flights due to the pandemic. the airline says with australia's border set to remain closed, most international flights were pulled from the schedule until at least through the end of october. united still offers nonstop flights to sydney from sfo, but only for cargo and essential travel. american airlines, says it has secured $3.5 billion to help stabilize that company. 1.5 billion will come from selling shares and convertible senior notes. american is one of many airlines struggling during the pandemic, its stock down close to 6% this morning. it has lost more than 40% this year. >>> teenagers looking for summer jobs are having a harder time finding those jobs because of the cor

were buying this week, hi, kate >> hi, melissa day traders were big on tech and standout retail name that was gapcompany announced a partnership with none other than kanye west for the clothing line and more popular on the trading app robin hood according to robin track, the amount of clients holding gap jumped 283% this week. take a look at some of the other big winners. facebook saw unusual options activity after a hand full of companies pulled ads from the social network alp alphabet seen a bump in retail trading and finally, plug power. that among the most popular this week hit a six-year high after multiple wall street analysts boosted price targets on a clean energy company and i know you talked to nikola's trever melton loosing allure with some retail traders. it was among the most sold names on the trading app melissa? >> thank you, kate let's trade some of these names. b.k., i don't know if you would dip your toe into a plug or the gap. >> probably not the gap but you know, plug is kind of interesting. so it's plug power for the challenged out there, that's not the type of plugs you put

gap. the rapper and the san francisco-based company reached a ten-year deal that could revive the struggling retailer. west will design affordable adult and kids gloething for the gap. yeezy which was valued at almost $3 billion in april will receive royalties based on sales targets. we'll be right back with more news. plus..another free testing opens in contra costa county. where you can get tested. join us monday from 4:30 to 7. a big name in the entertainment world is teaming up with his daughter to do "something good" for people motorcycle riders love the open road. and geico loves helping riders get to where they're going, so to help even more, geico is giving new and current customers a fifteen percent credit on their motorcycle policies with the geico giveback. and because we're committed for the long haul, the credit lasts your full policy term. the geico giveback. helping riders focus on the road ahead. >>> not just statues in schools but streets. in marin county, the debate over the future of sir francis drake boulevard continues. there have been growing calls and protests demanding sir fra

gap one of the many retailers forced to close its stores due to the covid-19 pandemic. company is adding 55% of its company-operated stores in north america have reopened and online sales they say are soaring at the gap. take a look at markets this morning, the melt-up continues, rallying ahead of the critical may jobs report this morning. dow industrials up 310 of points after a mixed action yesterday. the s&p 500 actually yesterday pulling back from three-month highs. the expectations for today's may jobs report a decline of 8 million jobs. the unemployment rate is expected to top 19%. the report is expected to show the ongoing damage from coronavirus lockdowns and joining me right now to talk about investing in all of this is bank of america investment solutions group vice chairman, keith banks. keith, always a pleasure to see you. thank you so much for joining me. >> great to be here, maria. thank you. maria: so keith, i want to ask you about your -- i know you said you have seven particular avenues that indicate we are in the early stages of the mention market advan

retail? how important is it? gapnks it founded a savior in a former employee, now megarich rapper kanye west. what i learned from kanye west about believing in yourself and never letting the crowd crush your dreams just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪. charles: well we learned on friday american consumers increased their spending by a record 8.2% in march or may, rather. it actually fell short of loftier expectations. we want more than just an easy to use website. we want to be able to dash over to pick up the stuff we just bought. cheryl casone joins me now with more. cheryl? cheryl: charles, life is so different now, right especially how the u.s. consumers consume. since we're a consumption driven economy, it is import

the "countdown" producer just shot footage of these major retailers such as the nhl store, gap and starbucks along with some of the other mom and pop stores, many of the jewelry stores on 47th street are independently owned. windows boarded up and of course, that is there to protect against looters. 700 of whom were arrested last night alone in new york city. retailers everywhere worried their stores might fall victim to a second night of looting. lands' end has 26 brick and mortar locations across the u.s. which were already really struggling by multiple pandemic related closures like the rest of retail in this nation. lands' end ceo jerome griffith joins us live. welcome. thank you so much for being here. as if coronavirus crisis hadn't done enough damage, as the leader of a company with storefronts across america, how are you now working to get ahead of the possibility that violence and looting could come to your doorsteps? >> first of all, thanks for having me today. i really appreciate it. it's just a shame right now coming on the back of the coronavirus epidemic, now this for retailers

pivot there by microsoft of course, nowhere near the retail presence of apple, but interesting nonetheless. the other story this morning, morgan, is gape s&p in morning as they announce a partnership is condition yea west who is going to design clothes for the retailer it just shows you just how much pop can be and what ordinarily would not be a maybe fundamental change to the story. >> no, and i guess you can put kanye west in the same bucket as the family in which he married, the kardashians. given the fact that every time we see some sort of deal with his wife, kim kardashian or one of her siblings we tend to see those stocks, those consumer name stocks pop as well. perhaps not that surprising here i mean, the stock is still lower on the week but it's up 30% over the past three months. speaking to everything we've been talking in terms of the changing retail landscape, the power of brands and just basically what all of these shifts towards e-commerceaway from things like brick and mortar, reopenings, how all of this is factoring into names like gap which is popping as you said up 25% today on this kanye deal. >> one amazing thing,

. >> let's -- let's talk about retail for a moment because gap shares are jumping on news that the retailerear partnership. he will create an easy line of clothing aimed at young shoppers they will receive royalties and equity they say the brand is valued at $2.9 billion and, guys, this could be a big bet for the gap, you know it's arguably had a fallo period and maybe kanye will bring it back >> wow you know, kanye, the kardashians, this is like when cody was up 16% on news that on, was going to be getting involved with it, too 16% is the basic improvement in market cap if you get involved with the kardashians or with kan kanye? >> i mean -- >> well, look, you could argue, by the way, what he did for adidas even. i mean, if you think about where adidas was probably a decade ago now before yezees and the ascension of that brand, could happen to the gap. we'll see. >> could use it, yeah. >> yeah, it would be something to watch also, guys, some worrying news for the housing sector the number of borrowers delaying their monthly mortgage payments because of the coronavirus rising sharply data a

that rally is over this was a favorite to pick out from the retail crowd here l brand, gap, nordstromo outfitte outfitters down double digits. we closed on the upside. i can say the buy to dip mentality, i think it is stig out there. the very rarely do we get a 6% down day only four of them forrest of this year, 5% down all of them in march you can see and all of them were above that all of these levels right now. so the buy the dip on this would have worked. what happened today? i think it's still helped keep the buy the dip alive at least for the next few days. guys, back to you. >> yeah. quite a year, bob. 65% one day losses, i think 28 in the last 70 years so it's been a jumpy one bob, thank you have a good weekend. >>> a rough week for financials. the group one of the biggest sector laggards lower for the week and regional banks fell by 11%. sector has struggled year to date as well down nearly 23%. joining us now for more is rene jones. good to see you. thank you for joining us >> good to see you, michael. >> first, let's talk about the business obviously, there's been just pres

gap. so it looks like stocks have commoditized, probably because of the risk that retail investors are chasing the up stocks. so i would have to say that this market is a me a lot of what we saw in march of 2000. in march of 2000, you had a gap up, followed by a record volume day on march 5 and 6, and ultimately higher than march 10. now we are seeing three things typical of commodities. we saw a very low trend, the rating on the bloomberg machine. we saw the portal was trend in 20 years. we saw the highest volume in history. and we saw an up day, much more upside volume on the day at the top, only two days ago. this is consistent with what we saw in 1987, october 2018, april of 2011, january of 2009, a bear market rally, november of 2008, and march of 2000, which i mentioned previously. something is starting to look a negative. we were long until this morning. now i am looking to go short if we get some sort of a rally. vonnie: so this will be adding -- you answered it -- you were long until this morning, you have gone flat now. will one more day of this convince you to sell? sell 1%i would r

but the best consumer performer is gap up more than 13% after an upgrade from jpmorgan citing the retailer'suation jpmorgan raised the price target on gap to $11, up from $7. back to you, carl. >> yeah. thank you for that gap an outperformer today along with other stocks that suggest consumer spending. american express the second biggest dow gainer we'll take a break and be back after a commercial interruption. don't go away. woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. >>> georgia reopened for business over a month ago but some businesses have taken their time getting back to full service. our next guest facing civil unrest and covid-19 in his city of atlanta joining us to discuss this weekend's demonstrat

higher by 12% however, year to date, that stock is down nearly 60% coty is the latest retailer to bet on them. gap announced a collaboration with kim's husband, kanye west with the rapper set to create a clothing line for men, women, and children coming out next year mike santoli, coty's stock story tells the story which has been weakness the fact that this deal does not come with any endorsements from kkw or kim kardashian west, that could be a problem for them. covergirl, sally, max factor, those with the weak spots in the portfolio. them taking chunks of the kardashians could help at the margins. though on this kim deal in particular, i notice they did not take a stake in skim which is actually kim's business of shapewear which is doing apparently a lot better than her beauty and fragrance line. what do you think? >> coty making the moves in a little bit of a sense of urgency and desperation from a position of weakness as you say really still reeling from the overpriced acquisition they made a few years ago. and i do think it is almost similar in some ways to gap. they have to reach for these c

gap over more than $65 million in missed rent payments. stores closed since the pandemic began. go to cnbc.com for more on the retailer's struggles and also a preview of gap's earnings report which is out this afternoon. we'll watch that one sara, back to you. >> all right sue, thank you former whole foods ceo and founder walter robb joins us on the other side of the break to talk about what consumer changes we're seeing as a result of the pandemic dow is now up two points a grandfather of 14. a newlywed... a guy who just got into college... that's why behind these masks, johnson & johnson scientists are working to accelerate development of a covid-19 vaccine, drawing on decades of experience responding to public health emergencies like ebola and hiv. for the life behind every mask, the clock never stops and neither do we. >>> welcome back nationwide protests were largely peaceful yesterday after more than a week of civil unrest and months uncertainty during the covid-19 pandemic, many businesses are now struggling to decide the best path forward for reopening and solutions to the two american crises joining us now is t

retail side. we looked at the large etfs, ticker xrt a lot of our viewers and listeners might know it. as you can see on the chart, at the depths of the co-vid pandemic, that gap in performance between the retail sector as evidenced by the etf versus the s&p 500 grew wide things have normalized a bit if the recent precedent holds true, which of the stocks that might be the worst performers if we see a resurgence in the virus, during february 19th to march 23rd, these components of the xrt kpmpled the worst. macy's down 70%. kohl's and others down 40 %. the better performers,it's interesting. some of these are perhaps consumer staples oriented. p.j.'s wholesale, up 10% kroger and sprouts, grocery store chains, up about 5% during the same time period chewy, online dog food retailer up 10% and stamps.com up 24%. morgan, i guess is point is we're trying to look at the most recent move in stocks around the covid-19 pandemic to see if there were to be another resurgence, whether or not the same precedents would hold true. those are some of the stocks to watch in case history repeats itself back over to you >> yeah. staples and e-commerce seem to be the themes there.

well retailers doing well i get a lot of comments asking me about the retail rally we have been seeing the stocks are off of their lows gap, following the accident, with $6 a month ago. now it's $10 it was $20 in february macy's was $5 a month ago. now it's a $6 a stock but it was $20 in february, again don't kid yourself yes, these stocks are off their lows i wouldn't call this exactly a retail rally i would say the global markets have all been lifting in unison in the last month. if you take a look here, china is at a ten-week high. japan is at a 12-week high everything is back to where it was as things started rapidly deteriorating in the early part of march it's going to be tough to get over these numbers because we were highing in the first week of march but you get the idea. this is, i would call it a u shape recovery in the major indices on the global level and maybe a v shape so far we'll see if that holds. back to you. >> thanks very much. what is driving this comeback rally and with so many unknowns about how the recovery will look, just how dangerous is the disconnect with markets. mike ryan is with ubs global

retailers can't pay? we know simon properties, huge mall, already suing the gap. why not?e fact is simon was planning to acquire talbot, another mall owner and they walked away from the deal because talbot is doing so poorly. it can't collect from its tenants. chipotle and starbucks are playing hard ball because they bring in customers and can afford to pay on time. makes sense since there is about to be a ton of vacancies they're the exception. their gain is someone else's pain the biggest false tell i've seen during this period was the reopening of wynn resorts and mgm. the resorts look crowded and seem safe. but wynn had to spend a fortune on safety to make that possible. most restaurants can't adjust, wynn brought in advisers to rethink the air conditioning system they didn't want the virus getting everywhere through the ventilati ventilation, most bars are trying to put up the dividers and that costs a thousand dollars a piece. for many operators that's too much when the security deposit runs out next month and we have a tsunami of real estate defaults, the pin action

gaps. women are also underrepresented in sectors have suffered devastating job losses such as retail, restaurant and other service sectors. health disparities and women with disabilities have been exacerbated and in short they experienced the greatest disadvantagesta before covid-19 have been hit hardest. against the backdrop it is critically important to prioritized and provide what they need to live, learn and work. congress now hasas the opportuny to enact policies that will advance the economic security and mitigate the effects of the recession. while many tax provisions will leave out women of color and people with low income, those like the earned income tax credit and child tax credit especially benefits women of color. these boost incomthese boost inp reduce the harsh economic effects of gender and racial inequity by narrowing the wage gaps, improving health, education and employment outcomes for families and reducing poverty. moreover, improving the tax credit most importantly by making it refundable would help the families meet the high cost of child care. those with direct payments ar

s role in brimming the ethnicity inequality gap and a that frenzy of retail trading we have seen recentlyayton think of that and what if anything is the s.e.c. doing to protect those types of investors 10:30 eastern. >>> let's check in with rick santelli as well good morning, rick. >> good morning david. that is thursday wasn't a terrific day the equities were blown out, many investors got nervous all over again let's start a ten-year chart on thursday you can see we went from the mid 60s to mid 70s yields are up of course stocks up what happened. the feds declared about the corporate buying they are going to be doing. that sparked a rally look at the next chart both up crease perfect example today. ten investment grade and about a dozen high yield deals coming today. upjohn, gm financial, new york life just to name a few and the market is somewhat excited about it if you look at the general activity in treasuries, look for potentially more selling as hedges are established indeed to get involved in some of these deals. finally, the barclays high yield index. you can clearly see the way i

halliburton, apache in particular gap also had finish from the other retailers.had fallen in q1. >> i think it's probably worth knowing especially when you're talking about these energy stock, still down year to date despite these major rallies in the second quarter over to mike looking at consumer confidence >> consumers confidence this morning came in better than expected just under the 100 m k mark these are the components of the measures it's the present situation, that's what consumers are asked, how does the present situation look in the latter part of an expansion, you see the present situation always seemed good people don't think it can last because the expectations are well below that. what you're seeing here is of course present situation plunge in a vertical fashion then it has rebounded a little bit but u interesting here is that the expectations never really got that low and they have now come back just about to february lev levels what has happened similarly, at the early parts of previous recessions, these dark shaded areas are recessions, is you

earlier jeffries takes campbell and conagra to buy and walmart to buy at 135 and the gap between the laggers and winners in retailden will we continue to order in and eat at home for the duration even as these reopen. >> turns out, not everybody is going back and, second, not a lot of restaurants to go to or variety. i just learned and we just got permission to put tables outside because of the haphazard nature where you can and can't go helps campbell and conagra and i think these stocks are good. i had campbell's on and i think they have a magnificent path towards growth turns out you eat the stuff and it's pretty good david, i know never a favorite but you look at what they have and you say, this is pretty good millennials, by the way, love frozen food. i guess because they owe $80,000 a year in college and now you have to pay $80,000 to sit at home >> well, let's hope not. university of phoenix online is going to play university online. safest game there is >> that's suboptimal for these country's universities that process is continuing and so important for the u.s. economy, as well when we talk about univers

retailers too. visa came out said payment volume was recovering, suggesting that the consumer was starting to come back. gap shares up big for second day up almost 8%. take a look here, macy's and nordstrom sharply higher despite many of their stores being looted during this national unrest. that unrest has sparked a rally in property and casualty insurers like old republic as well as some of the gun stocks. look at smith smith & wesson up. businesses and consumers are looking to protect themselves right now. facebook stock also unpressure today. so is the ceo. "new york times" got hold of an audio call between mark zuckerberg and facebook employees where mark zuckerberg defending his decision not to do anything about president trump's facebook post that critics say have contributed to the violence we are seeing that unrest, the pandemic, all hitting tiffany, the jeweler. shares were halted at the end of the day today. they reopened and they closed down about 9%. what happened is according to the wwd, a fashion publication, the board of lvmh met today in paris to reconsider their $16.2 billion offer for tif

gap. striking a 10 year deal with the retailer designing affordable clothing for adults and kids starting about the partnership calling it the west day ever. will announcing closing all of its stores worldwide. the tech giant says four locations will be converted into experience centers to showcase devices. the company says it will only sell products online. over to you,. pete: pete thank you, jed, while businesses across the country struggle to stay afloat following the covid-19 lockdown. some have been able to adapt despite the set back. today shining a light on flee small businesses booming. here to share their advice. owner of mobile tires and batteries in arizona is wilson that ladder. from pat's barber shot in new york drummond and, jamie bell out of maryland. thank you for joining us this morning. let me start with you. i believe you help fix cars. you were doing that at a shop. now you are mobile. talk to us about the adjustment you made. >> we do mobile tire and battery service just-like it sounds inner stall your tires and battery in your driveway or at home or in your office th

retail giant mickey drexler. it is great to see you i don't even know where to begin. let me try this. which is if you were running the gap today, frankly, if you were running one of the big department stores today, do you think it's fixable what would you do? >> probably one of the most difficult challenges i think gap is different than the big department stores. in business life i never wanted to sell anything -- big department store today, i'm not sure, i wouldn't want to run one. i don't think i would be very good at it gap is another story near and dear to my heart. been out 20 years, but if i were running it, i would -- first of all, the storish issue -- i'm going to give a simple answer, close tons of tores. put together an incredibly creative design and marketing team and live and breathe the business and have wonderful goods and do what i do for a living, which is have goods that only we sell and to have it p emotional, cool and have a need for those goods. that's a huge undertaking. >> het me ask you this from a policy perspective there's a lot of ppp loans and other loan programs that have gone out to all sorts

gap? it's a team% for the week. kanye west designing the clothing line for investors the music and fashion icon giving the retailer a-two dollars, up 10%. that's a medical equipment maker, having a good week of seven and a half% of when 80s but is it. the site, everything you want to say this, these are the stocks again and killed because of the resurgence of the coronavirus. american airlines, down 22%, went resorts, can vegas get a break? on the week. and you have they can never catch a break, the crews lines. down again today, up 15, 16%, $15. by the way, cruise lines may not begin operating service until mid-september but analysts are saying these cruise lines may not begin until next year. we have to wait to see the headlines tell us they have the winners and losers. >> i'm looking to be aggregate because i can see stocks exchange orders and balances and there are a lot of shares to be sold at the close. not exactly seeing liz: stocks are cheaper than they were yesterday. down, down 712, and 2020 the headlines have not stopped and that is driving volatility in the market. today we have the vicks index, the pure

retailers. just a quick number to give you a sense on how wide that gap has become -- the fed recently disclosed richest 10% of the u.s. hold 90% of the equities. so we have these low interest rates and asset classes, but it all going to the rich people and most people are not experiencing that. so we think this makes sense and we bought shares in one of the biggest companies involved in debt restructuring. if you think there's going to be evenbankruptcies, i don't think -- there are more bankruptcies. if you want to play it, here's an established company that is cash-generative, that has a reason for being, and is not crowded because it does not have the. calm at the end of it. the at the end of it. taking these risky positions is not the smart thing to do. haidi: usually we are talking about over exuberance and the mainland chinese markets. does that mean we have seen the scale up slower? the loss is about half last week. they present better opportunity? steven: there is no doubt that e.m.'s provide the best opportunity. they are forecast to grow about 6% over the long-term and then you have a

retailers in the city remain closed. i'm in times square, normally we would be packed like sardines trying to get to a shop. the old navy behind me, the gap behind me kept their doors closed. phase one is supposed to allow, agricultural, manufacturers, construction sites, retailers all to open their doors but we're seeing not even curbside pickup. a lot of major retailers saying they're holding off. they want to see if people are comfortable going back out on the street especially since many businesses urged their workers to stay home. you had the mayor of new york just speak about an hour ago about trying to encourage people to get out there and, let them know it is safe. listen in. >> i've talked to a lot of people the last few days when i have been out in neighborhoods, they all say, i hear a lot of people want to come back but they're watching to see how it goes. i will be taking the subway too. it is great to take the subway. we need to show people we think really important work has been done to make subways and buses safe. reporter: further on that, yes the subway system is up and running here. it will be closed at night. but if we

in a tough take this morning, john, gap continues to hold on to a near 30% gain as they sign this multiyear agreement with kanye west to design clothes for the retailerack to the levels we saw in june in the meantime we're back in a moment. ♪ ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey >>> we made some lip changes, you're right some people don't work there any more, i started with all white men and a couple women in there not part of the permanent leadership team. now my -- our leadership team is 50% women and 47% people of color. it was around vision, tf fsz about inclusion. our workplace promise is that everybody matters and everyone belongs. >> that was cynthia marshall with me yesterday. discussing leadership changes and the turn around that she was working on we alsoed about e sports and the mavericks and the way they're looking to connect with fans in this crisis. we'll be right back with the ceo of albertsons. don't go away. ♪ ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey to save on auto insurance. there's lots of ways really? yeah. very proud of that. with smartride® from nationwide, they can get discounts for safe driving. does she get one? mrs. carmichae

gap. that's right. west is expanding his yeezy clothing line for a ten-year deal with the company. while yeezy typically retailsrs, this line will be more affordable and provide, quote, elevated basics for men, women and children at accessible price points. the rapper and designer confirmed the partnership on twitter with the simple #westdayever and gap would certainly agree. the company's stock soaring after the announcement was made and, of course, if you're a kanye west fan, you probably know this isn't the first time that west had ties with gap. he actually worked in a gap store as a teen growing up in chicago. he raps about it on the song song "spaceship" on his debut album "college dropout." that line is expected to launch early next year. so that's some exciting news. >>> all right, meanwhile, margot robbie is setting sail. the star is set to lead a new female fronted "pirates of the caribbean" movie. that would be written by christina hodson. she's the screenwriter on robbie's "birds of prey" and while the story is familiar, this isn't intended to be a t most lucrative of all time. rather, it's a separa