and i think chipotle, too a lot to watch we'll turn it over to "closing bell" for that >>> i'm sara eisenith wilfred frost. stocks are higher as the rally rolls on but the nasdaq dipped back into the red. let's look at what's driving the action right now optimist around a virus vaccine candidate pfizer and home stocks are higher today after a record increase in home sales and a ninth straight weekly climb in mortgage applications. news on the stimulus front

i'm sara eisen along with wilfred frost. stocks up at the open.y're now in the gre green .5%. a record slowdown in gdp raising the stakes for the deadlodead negotiations earnings the other big driver. companies beating lowered expectations ups and qualcomm are surging another day of growth over value. big tech rising ahead of earnings this afternoon. this is going to be an

i'm wilfred frost along with sara eisen stocks bounced around the floot li flat line. take a look hat what driving action netflix is down sharply. though the nasdaq and tech is outperforming today. it is reversing relative underperformance that it has suffered down 1% for the week

i'm sara eisen along with wilfred frost. a new week and new market narrative.hnology is back to outperforming. positive news on the vaccine front today. multiple companies confirm early success in the studies but that isn't boosting the reopening trade. the airlines, retail, hotels, all lower today. it's the stay at home technology leading us higher. amazon, peloton, and zoom. and while the nasdaq is the story right now, it's up more than 2%.

. >> thank you, kelly and bill welcome, everyone, to "closing bell," i'm sara eisen with wilfred frost. stocks are rallying again. rare m & a news to start the week certainly helping the optimism we continue to see an increase in coronavirus cases in the u.s. and abroad hospitalizations in states like texas are soaring. nasdaq setting a new intraday record as tech stocks lead the surge here. >> we'll speak with the mayor in miami and about the spike with the virus. and an ammicable separation. match group completing the spinoff. parent company iac last week they'll discuss the strategy going forward and online dating during the pandemic. let's focus on the big stories of bob pisani has the stories. meg terrell has updates on the coronavirus and brian sullivan is covering warren buffett's new bet on the energy space. bob, let's start with you and the markets. >> yeah. the important thing about today is we're up nicely but we're up on lighter volume it is deteriorating a little bit from the earlier part of the day. we're once again falling back upon dependence on the mega cap tech names

i'm sara eisen with wilfred frost as always.00 drifting along the flat line now but nasdaq is surging again. it's up almost a full percent, back near record highs, 59% of trading. let's look what's driving the action 3 million cases in the united states with concentrated surges threatening reopening across the country. that has reopening trade weakening. airline stocks are sinking as united airlines warns thousands of provide he'

i'm sara eisen here with wilfred frost.he red to end the week dow and s&p 500 set for the first weekly declines in a movement we're climbing back from the worst levels in a day this could make or break the week for the s&p 500 rising tensions keeping investors on edge. big tech continues to roll over with intel's weak guidance the latest chill on the sector housing is very strong new home sales surging

. >> thank you, kelly and bill welcome, everyone, to "closing bell," i'm sara eisen with wilfred frost. stocks are rallying again. rare m & a news to start the week certainly helping the optimism we continue to see an increase in coronavirus cases in the u.s. and abroad hospitalizations in states like texas are soaring. nasdaq setting a new intraday

i'm sara eisen with wilfred frost. major averages down more than half a percent looking at session lows now for the dow down 264 let's look at what is driving the action bank earnings in focus today as investment banks and trading firms like morgan stanley do better consumer banking firms struggle. technology and travel stocks both losing ground as coronavirus cases continue to surge in parts of the u.s. a mixed picture on the data front. chinese growth returns but retail sales come in weak. here in the u.s., the labor ma

i'll wilfred frost along with sara eisen stocks giving back a chunk in yesterday's gains.'s have a look at what is driving the action the coronavirus remains front and center the u.s. approach three million total confirmed cases. the fed saying that some data is pointing to a leveling off of economic activity. the reopening trade pulling back as airlines, cruise stocks and on line travel names move lower. big tech outperforming o

i'm sara eisen with willfred frost. the a reversal of the recent trend.r session highs on the dow at 4:46 we'll take a look at what is driving the action a tough outlook for bank earnings as jpmorgan records record revenue we'll talk to the cfo. >> tensions with china simmering as huawei an

i'm wilfred frost along with sasa sara eisen we're well off the lows as you can see. let's have a look at what is driving the action the nasdaq leading once again. the only major index in the green today. up 17% year to date. tech continues to carry the market intraday turn around for the tech index as well florida reported a record number of coronavirus related hospitalizations cyclical stocks like travel, energy, banks are under pressure because of it. and the retail divide continues. walgreens and bed bath & beyond getting crushed today following weak sales updates and the staples names like walmart and costco are higher. the s&p 500, we're 59 minutes left of trade. it's not there the nasdaq is up 0.6%. the s&p 500 is a little bit lower. >> just a few moments, we'll speak with alpha one capital dan niles about the market selloff why tech in particular has been outperforming and what to do now. >>> plus, former treasury secretary jack lew will be with us to weigh in on joe biden's economic plan and work from home winner service now, it is up 50% on the year just ann

i'm sara eisen here with wilfred frost. stocks in the red to end the week dow and s&p 500 set for the first weekly declines in a movement we're climbing back from the worst levels in a day this could make or break the week for the s&p 500 rising tensions keeping investors on edge. big tech continues to roll over with intel's weak guidance the latest chill on the sector housing is very strong new home sales surging in june to their strongest rate in 13 years. >> and lots to come on the show. two big ceo interviews on the back of earnings:in a few minutes we'll speck to the owner of outback steakhouse blooking brands and later the ceo of boston beer will join us that stock surging after the truly hard seltzer brand helped boost sales. looking forward to both of those interviews we're down .6% let's get to the big stories we're watching meg tirell has more on the signing. and mike san totoli is joining s meg, let aers start with youen that executive order news. >> hi. drug pricing hasn't been in the conversation as much this y

welcome back, everyone, i'm sara eisen. senior markets kpen take thor. finished up the day on wall street. everybody ended higher except for the small caps there is the dow apple leading the charge today cloedings up 10% on the back of much better earnings the dow up .4% the s&p 500 closing by .75%. all day long, a tech driven move then you have strength in the end of the day by materials, utilities, financials closed green. we have two sectors in the s&p 500 that closed at record highs to day technology and consumer discretionary. thank you, faang and the nasdaq up 1.5% obviously the star of the day. and of the entire month. it's really been the story of the week as well the russell 2000 index down 1% today. it was the outlier you had negative groups like energy, health care. the industrials also closing lower. we'll speak with a company that performed up to a third of all coronavirus tests in the u.s the stock hitting an all time high today going back to the ipo in 1990. it's been a moon shot for this one. stephen mcmillan will join us in a few. the le

i'm sara eisen along with wilfred frost. a new week and new market narrative. technology is back to outperforming. positive news on the vaccine front today. multiple companies confirm early success in the studies but that isn't boosting the reopening trade. the airlines, retail, hotels, all lower today. it's the stay at home technology leading us higher. amazon, peloton, and zoom. and while the nasdaq is the story right now, it's up more than 2%. the we have seen the dow erase 167% drop. turn positive 59 minutes left in the trading day. >> yeah, set for another record day all time close for the nasdaq coming up on the show, the dow component and tech component an hour away from that up more than 30% from the march lows still down year to date. we'll have full coverage and analysis when those numbers hit. first of all, let's focus on the big stories we're watching mike santoli is back and tracking all the market action for us meg terrell has new details on a number of vaccine candidates and we're following the action in washington with the key deadline approachi

i'm wilfred frost along with sara eisen stocks bounced around the floot li flat line. let's take a look hat what driving action netflix is down sharply. though the nasdaq and tech is outperforming today. it is reversing relative underperformance that it has suffered down 1% for the week consumer sentment dipped in july with new data continues to show strength in the housing market another record breaking rise in covid-19 cases across the country. stocks though at session highs with 59 minutes left of the trading day and of the trading week, sara >> yep ahead on today's show, more positive data on the home front as you mentioned the real estate market continues to hold up despite the economic down turn. we're going to discuss whether that strength can continue with the ceo of red finn, what he is seeing in different markets across this country. plus, tech elites are pouring money into the biden campaign. we'll speak with silicon valley congressman about the new donation that's are helping to close the campaign cash gap. and, of course, the stimulus question let's focus

i'll wilfred frost along with sara eisen stocks giving back a chunk in yesterday's gains. let's have a look at what is driving the action the coronavirus remains front and center the u.s. approach three million total confirmed cases. the fed saying that some data is pointing to a leveling off of economic activity. the reopening trade pulling back as airlines, cruise stocks and on line travel names move lower. big tech outperforming once again. microsoft, amazon all hitting record highs the nasdaq flirting with another record close despite the broader markets selling off. 59 minutes left of the session sar yash sara, we're down .5%. >> we have big guests coming your way we'll be speaking with loretta mester about the economic signs she is seeing in america and how the fed is weighing the spike in cases. and the rollback of the reopening measures across this country. she's a voting member of the fed. plus, $150 million, that is how much deutsche bank agreed to pay in the settlement with regulators over the dealings with jeffrey epstein deutsche bank's ceo will join us to tal

i'm wilfred frost with sara eisen. dow set for its fourth day of gains in a row let's look what's driving action first vaccine showing promise raising hopes for a faster reopening. travel stocks, retailers, banks all rallying banks, by the way, we saw goldman sachs blowout reports trading numbers and the sector is moving higher big tech was showing signs of fatigue. nasdaq has rallied sharply since around lunch time. facebook, netflix all turning positive we are up 3/4% -- sorry, 2/3% on s&p. >> another higher day, certainly off session highs. coming up on today's show. great lineup uper facing fresh lawsuit from massachusetts over how it which was its drivers. early investor bradley tusk has an idea that can help them avoid headaches and take on rival lyft he's going to join us to explain. >>> speaking of the pandemic, new jersey governor phil murphy will join us to discuss his states path forward, whether he's prepared for what the fall will bring in the northeast. let's focus on two key stories meg tirrell with mode

i'm sara eisen with willfred frost. the a reversal of the recent trend. near session highs on the dow at 4:46 we'll take a look at what is driving the action a tough outlook for bank earnings as jpmorgan records record revenue we'll talk to the cfo. >> tensions with china simmering as huawei and lockheed martin sanctions and claims to the south china sea take center stage today. stocks are shrugging it off. the dow up more than 400 points but the big tech is struggling faang, internet names that have been on fire are seeing weakness today. we're following it all 59 minutes left of trade. >> certainly we've been all over the place in markets but we're up as we stand with the major indexes we have a big line up of guests. in a few moments we'll speak with shrewsberry, cfo of wells fargo. and robert kaplan will join us and we'll speak with michigan governor gretchen whitmer an earlier biden endorser as biden lays out more details of his economic plan. >>> let's focus in on the big stories we're watching at this hour wilfred has the highlights ph wilfred, sta

i'm wilfred frost along with sasa sara eisen we're well off the lows as you can see.e a look at what is driving the action the nasdaq leading once again. the only major index in the green today. up 17% year to date. tech continues to carry the market intraday turn around for the tech index as well florida reported a record number of coronavirus related hospitalizations cyclical s

i'm sara eisen here with wilfred frost. week on a high note storming higher in today's session. let's take a look at what is driving the action reopening trades are gaining ground carnival and airlines higher as gilead says the anti-viral treatment reduces mortality risk from covid-19. more optimism for big tech netflix is up a few percent today. 16% for the week one high profile investor is raising a red flag on the name >>> and president trump says the u.s.-china relationship is severely damaged and a phase two trade deal is not a priority it is not having much of an impact on sentiment. 59 minutes left of

i i'm wilfred frost with sara eisen. facebook is at a new all time high amazon jumps 4%. we've lost steam intraday. certainly for the broader markets as new data shows consumer sentiment deteriorated in july. and on this, the final day of july whether we look at the day, week, month, or the year, the story is clear

i'm wilfred frost with morgan brennan in for sara eisen.ositive but volatile day on wall street. what's been driving the action, more jobs added and a better than expected picture of the labor market in the u.s. that sparked a big rally at the open as you can see just there but we lost steam as new data showed the virus surging in parts of the country questioning the economic recovery and whether it can continue at the current pace and focus is turning to future stimulus from washington will these key packages be extended past looming deadlines towards the end of this month.

cnbc's own sara eisen is with us now, because if we're talking coke, we have to talk to sara.hat are the zombie brands what are they getting rid of >> this has actually been a long strategy by james quincy but the process has really sped up just sales that are not performing well financially. i asked the ceo about this earlier today. he really didn't give any specifics in terms of naming names, and i'm told by the company that it is still very much an ongoing problem, an ongoing process, looking for the brands, many of them regional, kelly, that are just not performing well. they have to focus on the core brands as the company tries to grow market share again as companies around the world reopen that's really the story for coke this quarter half of its business comes away from home, restaurants, bars, stadiums, movie theaters, and that was tough this last quarter. quincy painted an optimistic picture, saying it's getting better, and the second quarter really marked the worst of it, and that's why the stock went up, because the expectations were low >> where are the snacks? sho

i'm carl quintanilla with david faber and sara eisen is with us this hour. let's get to rick santelli >> this is the final july read for university of michigan sentiment. in the mid month was 73.2. that's the benchmark it didn't improve. 72.5 ultimately replaces the mid month read, and if you look at the full month prior to that, it was 78 .1. that was a solid read. nowhere near that level. so we do confidence has been impacted with a slightly negative read. we saw that in consumer confidence number from the conference board as well let's go through the conditions, current conditions 8 2.8. that's down from 84.2 mid month. and if we look at inflation expectations, the one-year inflation is 3 .0. that's a bit less than the 3.1 it was prior and five to ten-year inflation, a tenth lower at 2.6 these numbers are a little bit soft on the inflation read, nothing shocking we were talking about inflation earlier. you have ahole in the tire and until you patch the hole, you're not going to really inflate any inflation into this and we dug ourselves into a pretty big

and i think chipotle, too a lot to watch we'll turn it over to "closing bell" for that >>> i'm sara eisen along with wilfred frost. stocks are higher as the rally rolls on but the nasdaq dipped back into the red. let's look at what's driving the action right now optimist around a virus vaccine candidate pfizer and home stocks are higher today after a record increase in home sales and a ninth straight weekly climb in mortgage applications. news on the stimulus front congress now considering a temporary unemployment insurance extension. >> ahead on today's show, as more government money flows into vaccine efforts, we'll speak with the ceo of thur ermo fishe. plus micro loan campaign affirm striking a deal with shopify we'll teex wispeak with marks ln about that and a number of names are reporting after the close including microsoft, tesla and chipotle those numbers could move the market this evening. let's get straight to the big stories we're watching today mike santoli is tracking all of the action meg tirrell has the latest funding for pfizer and phil lebeau has fresh comments from the c

i'm sara eisen here with wilfred frost. stocks ending the week on a high note storming higher in today's session. let's take a look at what is driving the action reopening trades are gaining ground carnival and airlines higher as gilead says the anti-viral treatment reduces mortality risk from covid-19. more optimism for big tech netflix is up a few percent today. 16% for the week one high profile investor is raising a red flag on the name >>> and president trump says the u.s.-china relationship is severely damaged and a phase two trade deal is not a priority it is not having much of an impact on sentiment. 59 minutes left of trade >>> coming up, in a few moments, global investor mark mobius will join us. chinese equities see a big week of gains they slipped a bit this morning. shares of carnival jumping after they gave an update on the state of its business. we'll speak with the ceo arnold donald in a cnbc exclusive and major league season starting the season in florida. we'll speak with the league's commissioner about the

sara eisen and mike santoli with us and our reporters will be joining us in a few minutes. we're hearing representative johnson focusing on why it has counterfeit goods. others including for facebook whether or not it was too aggressive in instagram or attempted acquisition of snap and on amazon whether it's abusing its position particularly relates to small business platform. not really impacting the stocks at all. >> the unifying theme with all the questioning is using very strong market positions for competition and to muscle vendors and suppliers and obviously privilege their own products with customers. it's interesting that -- first of all, i think a lot of these issues are familiar. there's not really been a lot of news accept documented instance for certain tactics investors would have to pay much attention to on the other hand you can look at realities of how dominant they are and getting evidence of influence and the power of their platforms. if you don't think it's going to change it reins forcforces genel idea they are producing more than their share for overall

i'm sara eisen along with wilfred frost. stocks up at the open. but they're now in the gre green .5%. a record slowdown in gdp raising the stakes for the deadlodead negotiations earnings the other big driver. companies beating lowered expectations ups and qualcomm are surging another day of growth over value. big tech rising ahead of earnings this afternoon. this is going to be an epic one in terms of an after hours session for us >> it certainly is so many earnings reports coming out. and four giant tech companies among them coming up on this massive show, fresh off earnings this morning, an exclusive interview with david taylor shares hitting a new record high today. the company saw consumers stock up on household goods amid the pandemic and then at the close, we'll get earnings as sara mentioned from names like apple, amazon, facebook, and alphabet those companies represent some 40% of the nasdaq 100's total market cap that is all coming up today on "closing bell. let's start with the markets the dow more than 500 points intraday swings today.

i'm wilfred frost with morgan brennan in for sara eisen. a positive but volatile day on wall street. what's been driving the action, more jobs added and a better than expected picture of the labor market in the u.s. that sparked a big rally at the open as you can see just there but we lost steam as new data showed the virus surging in parts of the country questioning the economic recovery and whether it can continue at the current pace and focus is turning to future stimulus from washington will these key packages be extended past looming deadlines towards the end of this month. we have improved throughout the session up 1.1% with 59 minutes left in the session. >> yeah. and, of course, it is that holiday shortened trading week so we're watching this closely coming up on the show tesla shares surging up another 8% on the day. tripled in the last six months we're going to break down that move with former ford ceo mark fields and the treasury department says it has finalized terms of new loans to major american airlines we'll speak with the c

i'm wilfred frost with sara eisen. for its fourth day of gains in a row let's look what's driving action first vaccine showing promise raising hopes for a faster reopening. travel stocks, retailers, banks all rallying banks, by the way, we saw goldman sachs blowout reports trading numbers and the sector is moving higher big tech was showing signs of fatigue. nasdaq has rallied sharply

want to get over to sara eisen who spoke to the company's ceo and joins us with the highlights sara >rter: good morning, andrew just to put some perspective on the numbers you just read. the 7.22 billion in sales was a 28% drop we went back to records at least since 1990 coke has never seen a revenue drop like that the earnings drop down 32% organic revenues which is a key metric, down more than 20% 26%. clearly the market had the expectations low and analysts were pretty much ballpark correct in expecting it as the share price is higher. what drove the quarter i just talked to ceo james quincey. two key factors and they're related which drove weakness pretty much across the board number one, countries in lockdown indicated which countries did worse than others. europe was particularly hard hit. and their away from home business remember, 50% of coca-cola's business happens outside the home restaurants, stadiums, concerts. coke is way more exposed than its rival pepsi and that is reflected in the sales weakness. volume trends according to quincy have sequentially improved across the q

i'm sara eisen with wilfred frost. major averages down more than half a percent looking at session lows now for the dow down 264 let's look at what is driving the action bank earnings in focus today as investment banks and trading firms like morgan stanley do better consumer banking firms struggle. technology and travel stocks both losing ground as coronavirus cases continue to surge in parts of the u.s. a mixed picture on the data front. chinese growth returns but retail sales come in weak. here in the u.s., the labor market remains shaky but we resee recovery in retail sales dow down 271 session lows 59 minutes left of trade >> the nasdaq has been the underperformer is actually off its lows we're kind of moving around, as we speak, in the final hour. all the major indexes are lows ahead on today's show, we'll speak to mike sievert. we'll get an upgraciointergrac sprint >>> and the president of the university of arizona will outline his plan for the fall semester as cases and hospitalizations rise in that state. >>> w

sara eisen is back with james quincey. >> good morning, carl and we are seeing shares of coca-cola risinging after the company reported a 28% decline in sales james quincey, good to have you here thanks for joining us first on cnbc, good morning >> good morning, good morning. >> so clearly the stock is up. sounds like you're cautiously optimistic that we've seen the worst of it in terms of the sales decline and the loss of business, given the shutdowns. are you confident in telling investors that >> it's certainly our expectation that q2 will have been the worst quarter in this crisis i think going forward there's a lot of uncertainty as to the exact nature of the recovery and the direction, but we feel pretty good about saying that q2 was the bottom, and we'll see recovery from here forward although not necessarily a straight line. >> wanted to ask you what you're seeing particularly now in the u.s., in those surge states like florida and texas, and georgia and arizona, where the states have not fully reclosed, it's piecemeal between restaurants and bars what is the consumer doing in tho

i'm sara eisen with wilfred frost, mike santoli, cnbc commentator.e finished with stocks right now. a mixed picture in what has been a seesaw session for major averages of the first day of the third quarter. as you see there dow finished down fractionally .3%, 77 point lower. s&p held onto gains finishing half a percent, 3115 and nasdaq outperformer of almost 1% in this trading session as wilf just mentioned hitting a record closing high, a fresh record closing high today. the russell 2000 underperforming down half a percent, transports which started the day as strongest of averages also finishing in the web trade web meantime has been one of wall street's hottest ipos since it went public last year coming up we will ask company ceo whether soaring electronic trading volumes will continue once the coronavirus crisis ends right now joining us to talk about this market day wealth management ceo with us global investors mona is here with us as well. thanks for being with us mike santoli, i'll start with you. i know you just mentioned an air pocket but o

i'm sara eisen with wilfred frost as always. s&p 500 drifting along the flat line now but nasdaq is surging again. it's up almost a full percent, back near record highs, 59% of trading. let's look what's driving the action 3 million cases in the united states with concentrated surges threatening reopening across the country. that has reopening trade weakening. airline stocks are sinking as united airlines warns thousands of provide he's to prepare for headlines. fang with all the headlines in the greens, apple, amazon, netflix up 1.5%. tech remains hot, hot, hot. >> still to come, definitely coming on today's show, coronavirus cases climb and states continue to rethink their opening plans. we'll speak with fed chair james bullard, what it means for the economy. shares of taylor morrison posted record sales we'll speak to the ceo about what's driving the strength in the housing mark up a third of the percent. let's start focusing on the big stories. mike santoli tracking the markets, meg tirrell with the rising case count and cou

i'm sara eisen with wilfred frost and mike santoli take a look at how we finished up the day on wall street. it was a down day. dow closed lower, 353 points off the is egs lows. we're bouncing there along the bottom down 1.3%. s&p 500 lost 1.25% we got a surprise increase in weekly jobless claims this morning. that certainly did not help the mood today following the back and forth on this stimulus negotiations as well the s&p 500 down 1.23% first down day of the last five sessions the nasdaq having the worst day since june 26th. still hasn't put together a back to back down day n. a whi we'll see what happens. today it is sharply lower. down 1.3% into the close apple and microsoft contributing to the decline russell 2000 got a small gain into the close just barely. lower in the final hour of trade. we have more earnings. investors set for a trio we have intel, mattel and e- trade. we'll break down the numbers as soon as they are out get you some analysis. plus, we'll ask john rogers about today's selloff and whether this is a buying opportunity. and then renowned tech investor dan ni

welcome back f you're just joining us to "closing bell," i'm sara eisen along with wilfred frost and mike santoli take a look at how we finished up the day on wall street. the dow down 205 points that's about a loss of .75% pfizer is the biggest winner and 3m the biggest loser earnings action there. the s&p 500 closing down about .6%. first, actually third negative day in the last four puts the s&p 500 still up 3.8% for the month. and pretty much flat it was sectors like staples and utilities and real estate that do well when bond yields are falling. the nasdaq got hit the hardest down 1.3%. investors are waiting. a lot of earnings this hour. we'll get results from visa, starbucks, amd, and ebay we'll have instant analysis of all the numbers coming up here on the show. plus, we'll speak exclusively with the ceo about his company's results and whether people are still stocking up on snacks during the coronavirus crisis. as soon as those results are out. first to join us to talk about the market, eugene profit is here wells fargo asset management head of active equity. i turn you to, m

up next ♪ >> good thursday morning, welcome to "squawk on the street," i'm carl quintanilla with sara eisenmike santoli, jim and david have the morning off. futures in a tight range again but that belies how much news there is, covid hospitalizations seven-week high, jobless claims tick down to 1.3 million, analysts calls on cisco, microsoft, square, jpmorgan and a lot more we will check in with the treasury secretary at the top of the next hour, mike, but a lot of discussion about how the market is handling this surge in cases, a lot better than it did in march and april. >> yeah, and, you know, the market if you want to talk about it being the index certainly is doing that it's been steady naturally the most heavily weighted stocks also happen to be the ones that are in th strongest trends they are covering up for a lot of, i think, softness under the surface. you're not seeing this latest push higher really have the participation of the airlines and all the kind of so-called epicenter sectors that now are under a little more question about a stutter step in the reopening process. i do th

i'm sara eisen here with wilfred frost. take a look at how we finished up on wall street.he dow closed positive, up 11 points on the day. you saw that fall just in the last hour of trade the big news is that california governor newsom did decide to extend closures of indoor dining, gyms, salons, office that is are not essential. we learned that l.a. and san diego would be virtual in terms of schools for the fall. the s&p 500 losing a percent after earlier in the session actually going positive for the year we're now down about 2% year to date at some point earlier this morning we were at the highest level since the pandemic for the market financials. the industrials held up relatively well. technology and consumer names got hit. the nasdaq after reaching an interday record high gave up all of its gains and then some finishing the day down 2.1% and the russell index fared a little better than the tech trade down 1.3% coming up, we're going to ask musician and entrepreneur pitbull about the outlook for the future of live events and concerts which have been hit hard during th

it doesn't taste bad it's kind of like a cert >> anned advocate for it >> i talked to sara eisen.'t know about it a long time ago i'm trying to get people to know about the cprg drugs allergan has one now too >> see you tonight >> harley. >> see you later >> welcome to "squawk on the street." i'm carl quintanilla with david faber and leslie picker this morning. interesting market day again the vaccine hopes plus goldman and good macro data, as the dow inches up. to a large degree, it is largely about moderna, astrazeneca and the hopes for a vaccine down the road >> that seems to be reflected in the broader market averages being up almost 1% and the s&p basically flat for the year. moderna is up sharply on the promising results from the study of the experimental vaccine. meg is here with the latest. >> this is the full phase one study of moderna's covid-19 vaccine. in may we got a glimpse at the data it's only 8 of the 45 p participants worth of the information. here we have the full data set it looked at 45 healthy participants between the ages of 18 and 55 and got two doses of th

sara eisen joins us now with pepsi could he's cfo >> reporter: we can certainly ask. i think it depends on the salt content. good morning joining us first on cnbc is hugh johnson, a member of the cnbc global cfo council welcome, hugh. good morning nice to see you. >> good morning, sara, nice to see you all as well. >> reporter: clearly food was strong during the pandemic beverages not so much. i think the results overall came in much better just tell us what happened, what consumers did during the last three months >> yeah, happy to. it was really a very interesting quarter. we started off very strongly as a result of a lot of the pandemic buying that you saw early in the quarter then moved from that to sort of softness as we went into lockdown towards the end of the quarter we saw a notable recovery. the snacks and foods business very much benefitting from people staying and eating at home beverage business doing less well as mobility increased towards the end of the quarter you saw the beverage business start to come on more strongly and snacks sustaining well we fe

up next ♪ >> good thursday morning, welcome to "squawk on the street," i'm carl quintanilla with sara eisenantoli, jim and david have the morning off. futures in a tight range again but that belies how much news there is, covid hospitalizations seven-week high, jobless claims tick down to 1.3 million, analysts calls on cisco, microsoft, square, jpmorgan and a lot more we will check in with the treasury secretary at the top of the next hour, mike, but a lot of discussion about how the market

it's time now for the bell with cnbc's sara eisen. congress today. can we expect anything? >> well, we can expect fireworks. good morning, mika. this is a huge question of our day right now. is excessive power in the hands of just a handful of giant technology companies? that's the question of the day. we are expecting to hear from apple ceo tim cook, the head of google, mark zuckerberg, the head of facebook and remarkably for his first ever congressional hearing, jeff bezos, the head of amazon. they'll be questioned together remotely, via video conference today. for all of these companies, the stakes are high. they're all under some sort of federal and in many cases state investigations into their power. are there questions about whether anti-trust rules need to be re-examined during this technology age. and for all of these companies, the questions are specific and unique. for apple, for instance, is their app store too powerful for startups. to google, do their shopping and travel stores compete with companies that advertise on the