the 17-year-old will become the youngest olympian since 2000 seema. you. >> i love it i love coco. wishing her the best of luck phillip, thank you >> all right >>> straight ahead, details on what is likely to be one of the most controversial ipos of the year leslie picker is here with the details on robinhood. >>> if you haven't already followed us, check us out on apple and spotify or other podcast apps we will be rig bk.htac i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. every day in business brings something new. os so get the flexibility ofd the new mobile service designed for your small business. introducing comcast business mobile. you get the fastest, most reliable network with nationwide 5g included. and you can get unlimited data for just 30 dollars per line per month when you get four lines- or mix and match data options. available now for comcast business internet customers

jonathan: seema shah joining us now. about the technical connection yet on this call from goldman sachs, the sharper deceleration they now expect, and the idea that we have delayed a full service sector recovery, are you in line with that call as well? seema: well, we can definitely see in the second half, we don't think we are going to revise down our forecast area may be a few tweaks coming here or there, especially as we start to understand that continue to mask wearing, continued restrictions, and probably a lack of covid confidence is going to be weighing on some consumer behavior going forward. they start to weigh on growth expectations, but i have to say, i agree with your point that the market had probably for seen this, and that is what is driving some of the move over the last month, both in the equity market and the bond market. lisa: when you say the market, are you talking about the bond market or the stock market? seema: i think both are reflecting reality. what is going on in the fed's mind i think everyon

seema: i do think emerging markets is a challenge.cifically on china and geopolitical risk, every year we are asked what is your forecast for next year, what are you most worried about. typically, geo political risk only has a knee-jerk impact on markets. there's never anything sustained unless there's something really meaningful. china continues to perform. it is really about what is going on domestically. the thing we need to watch is those credit easing measures. are they going to have a balanced landing? i think we are quite confident it will happen, but over the next few months, i think there's greater challenges in terms of covid, and terms of supply bottlenecks, which we are more concerned about. guy: as i go into the summer, do i want to position my portfolio for a correction? if there is a correction, will it be a buying opportunity? seema: this summer, i do think there's going to be some volatility that's going to be challenging because markets are still trying to understand what the market is going to do, as well as what is

seema mody is back with details on that. seema? >> reporter: brian, we will start right there.iscuss how to combat the growing threat of cyber attacks like the one this weekend on kasyea he's calling it a national security priority. another meeting is expected to take place next week between the u.s. and russia. that group known as cozy bear breech, in a statement the rn dr says in part that none of its data was accessed. >>> authentic brands is going public a aeropostale and forever 21, the firm is targeting a valuation of $10 billion. they're going public. >>> disputes over mask mandates proving to be one of the biggest issues facing airlines as more people return to flying. the faa says that since the beginning of this year it has received more than 3200 reports of unruly behavior by passengers, roughly 75% of those cases involve people refusing to comply with federal mask mandates continues to be an issue brian, back to you >> okay. seema, hold on i think you and i have flown as much or more than pretty much anybody that we know in the last nine months. i've seen some of th

i'm seema mody. stocks ending mostly lower yesterday and set to open higher here on wall street. we saw the dow fall. the s&p 500 snapping a seven day winning streak. the nasdaq reaching a record high big moves in names like amazon and apple. energy stocks slipping after opec failed to make a decision among leaders. that will be a point of discussion in today's trade. on the economic front we'll get the fed meeting minutes to provide guidance on the pathway to interest rates and the monthly job openings and labor turnover survey. for those that love the morning brew keep an eye on coffee prices. a jump in bean prices could filter through to the morning fix. prices have been moving higher because crops in brazil damaged by the world's worst drought in almost a century. roasters and kuf fee buyers have contracts with suppliers insulating them for about three to nine months but when the contracts expire roasters will likely have to sign new deals and result in higher prices for end consumers. now movies to the streaming service peacock no more than four months after debuting in thea

but seema, you have an interesting twist on how investors may be responding. >> at a time we don't know regulatory review out of china, worth noting the amount of money going into the other emerging market nations, for example, india has now raised about $10 billion in fundraising for start ups. that's double the amount versus the same time a year ago and even if you look at equity market performance, you see a wide divergence over the last three months, props a look at how investors are repositioning themselves, trying to re-evaluate the risk around the regulatory review. and if you want that growth story, do you look elsewhere >> sri to give your thoughts on the point bob just made. if the net result of this is china being removed from major international indices, why would that be something that's in the interest of the chinese leadership >> well, the chinese leadership is all about control that's really what it comes down here, kelly. and i think they're willing to take an economic hit if they can have more control. look what they did with one of their most famous actresses, which p

i'm seema mody it is not just big tech with earnings out after the bell.r s&p 500 companies set to report this afternoon. shares are up about 17% this year let's bring in matt millie and nancy laffer nancy, at a time china is so topical, i wonder if you're concerned that one of the starbucks' biggest growth markets is china >> yeah, it is a concern, seema. the mobile order data shows that comps in china have slowed, that loyalty may be slowing we may have hit the tipping point in terms of growth there that's something we're going to be watching on earnings. this is a company that has done very many things right during covid and beyond they're using digital and data in a really broad way that's improving margins. foot traffic in the u.s. in q3 is better than q2. it's a member of our 12 best ideas portfolio and we do expect the company to raise the dividend in the next quarter so if you've got weakness, this is a stock that you may want to add to at a pace. >> matt, you're concerned about valuation, from what i understand >> yeah, but i'm also worried about

it's a really volatile area, and i think timing is one of the key lessons here, seema. >> always. >>b, the popular etf that holds the largest internet stocks alibaba, tencent and jd.com, down 10% this month. it's pushing kweb nearly 40% below its february peak. joining us is brendan ahearn, we should note that crane shares is a beijing based investment bank. many invesers use kweb to garneresh poregarn er exposure to chinese tech names. >> we think this decision with didi is an isolated event. there's chinese regulation occurring on the internet space, but the situation with didi has weighed opthe entire sector when we think this is a very company specific issue >> company specific issue, but one in which we're starting to see more and more companies become subjected to. a lot of these things have to do with companies that haven't been listed yet, but do you expect to see more of these types of news-making, headline-making regulatory actions take place across the sector, and it's almost as if, you know, at least investors in the way they're valuing these things they expect dominos to

, appreciate it seema mody >>> that does it for "the exchange" today.on "power lunch" with markets selling off on the delta variant concern, is it time to rebet on the shutdown stocks. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. new customers get our best deals on all smartphones. that's right. but what if i'm already a customer? oh, no problem. hey, cam...? ah, same deal! yeah, it's kind of our thing. huh, that's a great deal... what if i'm new to at&t? cam, can you...? hey...but what about for existing customers? same deal (breathless) it's the same deal is he ok? it's not complicated. with at&t, everyone can ace back to school with our best deals on every smartphone - like the samsung galaxy s21 5g for free. there's interest you accrue, and interests you pursue. plans for the long term, and plans for a long weekend. assets you allocate, and ones you hold tight. at thrivent, we believe money is a tool, not a goal. and with the right guidance, you can get the fi

seema mody, guy, what do you make of this headline?i don't know what today is, the 28th or something. august 4th you're making a face i'm asking a question. >> you have a calendar app, so check it. >> i'm looking at it now, august 4th would be next wednesday, not tuesday. wednesday. why do i bring that up because uber's going to report on wednesday this is how my mind works. if earnings are going to be great, they would wait in my opinion until around that time to have a headline like this come out why would you do ahead of earnings that's just the way -- not saying anything, that's how i think, though. that's a trader's mentality. the more you know, the more you know put that music up. >> you think about the worst-case scenario conspiracy theory-esque explanation. >> what's today's date >> like i said, the 28th. >> i look at a couple of dates back in november of 2020, it looks like the chart is rolling over to those levels so not to be -- so maybe i just caught his pessimism, but when i look at the chart, it's definitely a continuatio

tyler. >> thank you very much, seema. >>> speaking of travel, tune into "squawk box" for an interviewh marriott's ceo at 7:45 a.m tony capuano >>> spotify betting millions on the future of the podcast market and one analyst is bullish on the stock. we will speak to that analyst, next. >>> and now the latest from trading nation.cnbc.com and a word from our sponsor. >>>there's a classic investmen thesis called the dow theory it says the transportation stocks can either confirm or deny a broader market trend. but it's important to remember the transports can be sensitive to changes in oil prices and other market influences. so don't rely exclusively on this theory when making an investment decision. i'm randy frederick and schwab is the better place for traders. 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... these salads. or these sandwiches... ten-x does the same thing, but with buildings. swee

i'm seema mody we are watching netflix ahead of earnings out the first company to report earnings inhis year a come down from the pandemic lockdown sugar high. investors watching any signs of subscriber growth. >>> a lot of excitement around this report, del no. what will you be watching for? >>> really it's been flat, most of the gains in the last six months i like the fact that, they've been able to temper expectations for investors. they're projected about 1 million after the upcoming quarter. the churn, the churn rate was actually below levels of 2020 in q1, and that's a future possibly increasing price, which obviously increased the top line >>> right around 575 >> really it's just resistance on previous peaks. this is a stock that needs a catalyst to get out of its trading range. >> usually these are resolved in the direction of the prevailing trend. we're also encouraged by the fact that netflix did manage to clear its 200-day average last month. so moment actual with an up tick within that range. which would then aloss for a target at a minimum of about $700 >>> follow us on

tyler, over to you. >>> all right, seema, thank you. up next, the dow on pace to snap a four-day winning streak. honeywell and disney dragging the group lower. are stocks in for a choppy month? we will hear from tom lee next on "power lunch," back in two. >>> and now the latest from tradingnation.cnbc.com and a word from our sponsor. >> for entries into breakouts some traders use buy stop limit orders placed above resistance levels unlike regular buy stop, buy stop limits turn into limit orders when the stop is triggered. thus if it closes below the stock price one day and opens far below the nextay d the trader will not buy the stock. i'm lee bull and schwab is the better place for traders >>> our next guest warns the market will be choppinessy that creates opportunities for investors in areas like oil and crepto tom lee, it's great to have you here we don't have a ton of time. i would look to get there as much as we can with you. why is oil your topic the rest of the year? >> i think is has inyo sin crattic virtues. it's a supply mark

seema mody on how the latest covid wave is impacting summer travel dr. vin gupta about the surge in delta cases. first to our health and science correspondent meg tirrell. meg, break down this new study with the slashing headline late this afternoon in the "new york times" about the j&j vaccine >> reporter: yeah, shep. this is a study from a lab at nyu that looked at antibodies generated by the vaccines to see how well they hold up against different variants, and it found that for people who got the single shot j&j vaccine the antibody levels against the delta variant may be low enough to be less protective. now the study isn't yet peer reviewed and jandohnson & johnsn is taking issue with it. j&j's is the only one-shot vaccine for covid available, a codifferentiator and ease of distribution and access. about 13 million americans have had the shot of the more than 161 million americans who are fully vaccinated j & j telling us tonight its own data showed the vaccine generated strong persistent activity against the delta variant and other highly prevalent

seema mody has the numbers on the outflows >> reporter: that's right.f chinese stocks about $1.2 billion in the last two weeks. that compares to inflows of $8 billion during the same period a year ago that according to iif. selling is more prove nent in china where the volume timt of the stock mark has been much greater than other regions like euram and latin america. while investors have typically overlooked the risk of regulation this time around it's clearly having an impact on sentiment. goldman sachs pointing out the risk appetite for chinese stocks has sharply dropped to below average levels, more so than other countries in asia. the latest efforts to crack down does follow years of china actually pitching itself to foreign investors like black rock to be included and to reach or widen its pool of mainstream investors and most recently loosening restrictions in china's bond market. it may just come down to growth, guys can these larger tech companies continue to defy gravity and grow their sales in the face of regulation we'll get the second quart

frank, back to you >> seema, thanks a lot >>> realogy shares down fractionally reporting high-end sales ceo joins us next. stay with "power lunch." >>> and now the latest from tradingnation.cnbc.com and a word from our sponsor. >>> some people refer to the vix as the fear gauge but i like to refer to it as uncertainty while an elevated vix may imply the market is headed for big moves, those moves could be to the down side or to the upside if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. - [announcer] at southern new hampshire university, we never stop celebrating our students. from day one to graduation to your dream job, that's why we're keeping your tuition low for the 10th year in a row. - [student] the affordability and the quality of education, it can be enough to change your life. - [announcer] as a nonprofit university, we believe in making college more affordable for everyone. - southern new hampshire university,

for "the news" i'm seema mody. >>> covid cases in tokyo have been on the rise for more than two weeksd today the olympics may end up being a tv-only event with pew to no fans at all. a major newspaper in japan is now reporting organizers may limit the opening ceremony to vip guests only. the list includes people like diplomats and sponsors the newspaper adds other large arenas will likely have no spectators in the stands organizers are expected to announce these moves later this week the pandemic also causing challenges for the athletes trying to just get to the games the team needs the head of fiji's olympic committee says that country's national airline isn't offering commercial flights right now so the team needs to ride on a cargo plane that carries seafood and express mail because of travel restrictions other teams including sri lanka are planning to fly thousands of miles in the wrong direction just to get to japan the opening ceremony, just more than two weeks away. >>> new york city set to hold a ticker tape parade tomorrow honoring the heroes of the paramedics are boycotting

back over to you >> dom, thanks let's get over to seema mody for "trading nations." >> reporter: the u.s. not the only market in sell-off mode europe and asia in the red to begin the week with a spread of the covid delta variant raising fears of the pace of this recovery taking a step back, though, looking at year-to-date performance. u.s. outperforming other regions. let's break it down with the "trading nation" team. is now the time you would be recommending clients to diversify their holdings to stocks overseas? >> no, the exact opposite. we recommend clients tilt further towards the u.s. through this in general global diversity is warranted when internal breadth is broadening. it's better when it has narrowed and we're at one of those points equity breadth is under pressure on this pullback i would be looking at u.s. stocks, at large caps and high earnings growers >> so areas staying domestic you have your eye on a market outside of china which one is it? >> yes i really like vietnam as a long-term hold maybe the conditions will not be good for em but over the long term fundament

, thank you for that seema mody. >>> when we come back, wheels up, completing the spac deal at the nyseme break it down. you got your new customers — they get our best deals. you got your existing customers — they also get our best deals. everyone. gets. the deals. questions? got it. but, why did you use a permanent marker? because i want to make sure you remember. i am going to get a new whiteboard. it's not complicated. only at&t gives everyone our best deals on every smartphone. like the samsung galaxy s21 5g for free. ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. keeping your oyster business growing has you swamped. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. - dearest gastro pubs, bistros, and restaurants... thanks for tre

> if up to -- or we're really going to have another freeze of golden trade and trouble, absolutely seema mody has the details. >> we'll start with the cruise lines. yes, we have seen some shorter trips and delays, but no major cancellations. with that said, florida does count for 20% of the new cases, so this will be a big test for the crew lines >> i would call out airbnb you guys were talking about peloton, but it's down less than some of its travel peers bookings has remained very strong here in the u.s., so that is given some hope to the bulls out there. >> seema mody, thank you are you worried this delta variant could postpone we weren't even seeing internary -- >> i may be a bit early on delta. even if there's new travel restrictions we'll see, but i think it's interesting what you saw in the uk. they opened everything up even though covid has been rising so i think you have such fatigue, so california, just wearing masks, so i think there's no appetite among consumers. i don't see a big decrease in leisure activities things will be okay. >> are they cheap on a multiple basis? >> n

carl, back to you. >> seema, thank you very much.amatically underperform year to date, mike. >> probably cheaper to the relative overall market. it's a very out-of-favor group of industrials they usually benefit from being this kind of black box they just create the earnings growth and that's obviously faltered here also, very heavy in these sort of different growth portfolios i think there's a lot of normal investors in defense stocks that kind of want to put it away and not worry about it so maybe it's creating an opportunity given that they are very cheap they also had a comeback after a typical care when a democratic is elected president. >> there's also the the spending was so big during the trump administration, which almost never happens, but the fear is always there >>> tesla to release results after the bell phil lebeau has more. >> they are expected to report a profits. the expectation on the street is for 98 cents a share to be the profit, with revenue coming in just over $11 billion. if there is one metric to focus on fro

seema mody has the details >> if you have not received the vaccine shot, it would cost you more to cruiseor emergencyevacuation from ship to land should a passenger need it. they'll also be responsible for the pcr testing. 84% say they're less likely to sail on a ship withes differences. this is a challenge for the industry over the past couple weeks, a handful of ships have had to cut their sailing short or delay operation because of a couple cases on board the key thing here is, not an outbreak. >> seema, thanks so much an staysia, the other things i guess is, the stocks have softened in line with other cyclicals, but perhaps in a more pronounced fashion is that a buying opportunity >> yeah, in particular to cruise lines, i see how it might be tempting, because the cruise bookings are down something like 61% from 2019 levels it's something to say they're going to firm up from here i think there's better reflation and recovery rates to be had a lot of that has been done already. the return to mobility has been done already i think that trade has largely maid out, but the banking sector r

seema has more >> hey, wilfred, if you traveled over the july 4th weekend to the beach, you probably do with fewer foreign tourists who tend to stay longer and spend more. the delta variant also putting into question when international travel bans will lift. portugal reimposing a kurt vice, capacity restrictions, and indonesia announcing a lockdown in tourist hot spots like bali glenn fogle talks about the extend of this remains unknown our position has been from the beginning it would take years, recovery in travela full courtney >> seema,s travel industry certainly trying to recover. >>> host hotels and resorts announcing the acquisition of its first hotel in the florida keys this follows two hotels and two golf course acquisitions earlier this year for a combined total of nearly a billion dollars, host hotels' ceo joins us today. you're buying properties at a time when the travel industry was going through some pain. what do you forecast the return on investment will be and the time horizon for some of these investments? >> thank you for having me today. we are very bullish regard

seema mody is tracking those >>> travel stocks once again lower despite new data showing more peopleing it a tougher story at this point. they say in the cycle when international and corporate travel are just not back yet and that united is, quote, asking for too much patience from investors. let's pivot to the cruise lines gearing up for a slate of alaskan sailings set for july 19th out of seattle, the stocks are moving lower on what some on wall street are saying is due to growing worries over the delta variant. scott, the highly contagious variant is impacting the summer season for portugal and spain which are in the process of implementing new restrictions as the case count there in those two countries continues to rise. >> cases going up all over the place it seems with the delta variant. seema, thank you very much >>> mike, travel stocks pricing in, global slowdown off the delta variant? >> a global slowdown or at least a period of a kind of comeback that's a little bit briefer than we thought we might get. that's semantics, i guess. it comes along with all the cyclical groups

>>> thank you very much, seema clout and a contract the tiktok famous college athletes who are amongponsorship deal to make money off of their fame, their image, their name, all of this when "power lunch" returns. >>> companies that do a lot of business abroad and those that are in manufacturing tend to be more vulnerable to a strong dollar so if you believe the that are is going higher, you might want to check your exposure to these types of companies >>> welcome back, everybody. a landmark ruling is shaking up college sports starting today, the ncaa is changing its long-held policy and will allow athletes to make money from their name, image and likeness and our next guests are already cashing in, twins hanna and hailey cavinder. they have a huge following on social media, more than 3 million on tiktok, and today they're signing a contract with boost mobile joining us with the twins themselves along the ceo of boost mobile welcome, everybody hanna and haley, we'll get to you in a moment, congratulations. steven let me start with you because of all the athletes in the ncaa you could

>> seema, thank you. >>> still ahead -- why a majority of americans think the american dream is on holdicroscope with that one, next. be sure to watch "dr. anthony fauci on "the closing bell" at 4:00 eastern time. >>> now the latest from tradingnation.com and a word from our sponsor it's important to remember transports can be sensitive to changes in oil prices and other market influences. so don'texclusively on this theory. i'm randy frederick and schwab is the better place for traders. if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. ♪ ♪ experience, hyper performance that takes you further. at the lexus golden opportunity sales event. get 0.9% apr financing on the all 2021 lexus hybrid models. experience amazing. (vo) introducing 48 square centimeters of earning get 0.9% apr financing on the all 2021 lexus hybrid models. potential. flawlessly designed. undeniably versatile. unlimited 2% cash back. this is the card built

infrastructure plan includes $66 billion for passenger trains some of that money is going to be going to amtrak seemah the head of amtrak with the improvements that money will help buy >> morgan, it's one of the railroad's biggest investments, a $7.3 billion contract to build 83 new trains outfitted with better wifi, usb ports, more leg room the goal is the fleet with replace about 40% of aging trains it comes down to funding while amtrak has secured about $200 million from congress, ceo william flynn says it's going to rely heavily on president biden's infrastructure bill that has yet to be passed in washington, as well as state and debt financing >> the states will also contribute and pay for the capacity that they use and if at some point in the future there's a lapse in funding or a gap in funding, we're well-positioned to take on and finance that portion of the overall acquisition. >> now, just as more people check into hotels and get on planes, ridership for trains is improving, approaching 60% of fiscal year 2019 levels. and over july 4th weekend, demand levels reached 80% of what it was two y

you can head to our website or follow us on twitter tyler, over to you >>> seema, thank you very muchll street expects a monster quarter from the electric carmaker tesla. can it deliver the dream quarter analysts are hoping for? we will take a look under the hood next. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. make fitness routine with pure protein. high protein. low sugar. tastes great! high protein. low sugar. so good. high protein. low sugar. mmm, birthday cake. pure protein. find our coupons in sunday's paper. >>> welcome back shares of tesla are rising about 2.5% today ahead of second quarter results due out after the bell the automaker expected to record a record profit. the stock is higher ahead of results

>> well, seema, just because a stock has cheap fundamentals does that make it a necessary buy from ave? when you look at charts they're in down trends and down trends to me say stay away. when you look at the major names, one was jd.com am if you look at jd and overlay that with a 100-day moving average, that line offered great support on the way up it declined nearly 40% i'm focused on the $80 level that is key chart resistance as well as that longer term 100-day moving average now we would have a stock that's in an uptrend with attractive valuations and that's when it becomes a buy for us >> jd among other chinese names higher on the day. good to see you both thank you. head to our website and follow us on twitter. >>> thank you very much. now after years in court, the sackler family is finally moving closer to a settlement over oxycontin-related deaths some are saying the deal doesn't do enough. what does it say about our legal system and corporate america we'll discuss that next. do you have a life insurance policy you no longer need? now you can sell your policy, even a term pol

seema mody explains why. >> reporter: passengers will be required to buy travel insurance worth $10,000an additional $30,000 should a passenger need to be evacuated off the ship adding up the cost of insurance plus testing, an unvaccinated family of four will be paying an additional $700 per cruise, according to estimates from cruise critic. >> i think that the travel insurance mandate is a good reflection of whatwe're seeing on board, hey, there are very few people that this is happening to if it does happen to you, you want to be covered. >> reporter: the changes come as a handful of ships have reported covid cases on board in singapore, 3,000 passengers and crew confined to their rooms after one traveler tested positive for covid royal caribbean ceo saying in june it's unrealistic to keep covid off all ships. the goal is to avoid an outbreak. >> there will be cases on board cruise ships i think the important thing is we make sure they're isolated cases and they don't become an outbreak. >> reporter: not all cruise lines are on board with welcoming back unvaccinated guests norwegian c

we're going to get to apple's remote work policy, but first, time for a news update with seema modi >il sales posting a surprise 0.6% gain in june the growth rate doubled. at the same time, consumer sentiment fell in july, driven in part by rising inflation concerns bond yields initially rose after the retail sales report, but have since fallen. questions about the strength of the economic recovery. higher inflation is unlikely to last >> i think we will have several more months of rapid inflation, so i'm not saying that this is a one-month phenomenon, but i think over the medium term, we'll see inflation decline back toward normal levels but of course, we have to keep a careful eye on it. >> and let's turn now to china the crackdown continues for stocks like didi, and new today, officials from seven chinese government departments visited didi's offices to conduct its probe of the company the biden administration warning that u.s. companies operating in hong kong could also be at risk. our next guest says that's already happening, and apple is in trouble joining us now, the always out

seema moody with the details >>> looking through the pricing, an additional $700 a family of four willccinated to cruise that according to trip adviser making trips more expensive is seen as a way to discourage them from sailing as primarily an issue in florida where the state is preventing businesses from requiring customers to show proof of vaccination they are mandating insurance policies of up to $30,000 for costs related to medical treatment and evacuation from the ship norwegian does not want to comply with the rule filing a lawsuit against the state arguing that the state's rule won't allow its passengers to sail safely and the delta variant poses a huge risk. a spokesperson for florida saying the cruise line policy discriminates against children under age 12 and others. a hearing is set for august 6th, and the stakes are high. if the judge rules in favor of norwegian cruise line what is stopping hotels hosting weddings from saying we, too, want to require the vaccine. >> it feels like the first time florida has had to deal with the ire of the business community, it's been a pro

the clerk: department of labor, seema nanda of virginia to be solicitor. the presiding officer: under the previous order, the senate previous order, the senate >> senate democrats will be meeting with president biden at the capitol hill party lunch today to discuss infrastructure legislation. live coverage when the senate gavels back in here on c-span2. >> and the president arrived at the capital shortly but we will take you live to the white house now for the briefing with press secretary jen psaki. >> a couple questions let me try to address all of them. we're working close with congress to change the authorization legislation so we can streamline the process of approving these. we have a number of authorities we want to make sure were working to expedite and work as efficiently as possible. what we announced it also is that we're launching but recalling refuge to support relocation flies in arestin eligible afghan nationals and their families who had supported the united states and our partners in afghanistan. in terms of the specific numbers are on the

. >>> seema mody has the detames they keep sparring with the state of florida. >> here's the deal i don'tnk line royal crib want carnival which no longer require vaccines norwegian cruise lines is not backing down they're filing a lawsuit, asking the court to block , that the delta variant does pose a risk to its passengers. norwegian says it plans to sell 100% vaccinated ships from florida starting august 15th wrouf an injunction it would face a fine up to $5,000 per passengers it could results $4 million in revenues he wants to protect his passengers and wants to sail 100% vaccinated ships. we'll see what the judge says. >>> we begin where a chicago banker has been convicted to -- >>> texas republicans have authorized state law enforcement to arrest lawmakers who fled the state. since there's no criminal offense, texas cannot actually ask police in washington, d.c., or any other state, to detain legislators. >>>? wisconsin, they're calling it a vicious excuse the gunman reportedly drove to another gas station and approached another driver. this one, however, was ahn undercover officer w

. >>> travel spots among the biggest losers there and taking a look at the sector for us, seema. >> and $1.5 billion is how much the u.s. economy is losing every week that travel bans on countries, like u.k., stay in place. it's wlhy a group of executives have been pushing to reduce restrictions i've been told they've been seeking meetings beyond covid tax mask to reopen boarders. hotels very much dependent on international travel to be able to travel to london and other financial hubs it accounts for a large share of their business about 50%. hyatt at 25% and it's getting complicated by the fact that just this week a number of countries are reimposing restrictions, greece unveiling a curfew and the party aisle for many living in groups these are the type of restrictions that, of course, discourage travel and could post pone when international travel returns. guys >> thank you >>> mark is trying to sort all this out let's break it down further, as relates to the airline sheila, good to see you this morning. if we could start with boeing, who's had another rough run. and it's not just ab

our seema mody has the impact. >> and now feeling the pressure on both sides we rez surrected h china as concerns over beijing's oversight continues to grow. however, latest commentary from u.s. executives on china has them fairly optimistic, nike ceo don donoghue, in june said the biggest concern we have is it consumer equity as consumers feel a connection to the nike brand. on the first quarter, caterpillar seeing robust growth in china and that government spending on infrastructure has fueled strong excavator demand and while the u.s. firms don't have this listing problem that chinese companies do, steve orlens, the president, says they do need to adjust to legal and regulatory data. in china, it's very sensitive and highly regulated china's new laws he says is making compliance increasingly difficult. let's take a step back, for most of 2020 stocks, high foreign sales outperformed their domestic counterparts. however, since february of this year, worth noting companies that are more u.s.-focused have performed better goldman sachs crediting the u.s. stimulus as being more successf

shares up 9.6% sara >> near the top of the s&p seema mody, thank you. >>> novartis topping expectations up next we'll talk to the company's ceo and what could be the next big drug in its pipeline you're watching "closing bell. dow up 277 yeah, i mean the thing is, people like geico because it's just easy. bundling for example. you've got car insurance here. and home insurance here. why not... schuuuuzp.. put them together. save even more. some things are just better together, aren't they? like tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. no. that'd be a mess. i mean for starters, porcupines are famously no good in a team setting. geico. save even more when bundle home and car insurance. (vo) conventional thinking doesn't disrupt the status quo. which is why t-mobile for business geico. save even more uses unconventional thinking to help your business realize new possibilities. only one 5g partner offers unmatched network, support, and value-without any trade offs. team usa is ready for the olympic games... ...and so are mike and

seema mody is looking at the travel names taking a hit in today's sell-off what's going on? holings who says the spread of the delta variant while concerning hasn't had a material impact on consumers' desire to travel again he is optimistic that more countries will follow the u.k.'s reopening example and even if youlook at hotel occupancy,it is down slightly in the last two weeks from june, but is still averaging around 65% across the nation that data according to sdr the concern is we will see more cancellations as countries reintroduce restrictions there is also the risk of the return of international travel getting delayed once again also i want to draw your ascension to the cruise lines. among the worst performing stocks across the s&p 500, no major cancellations at this point. in fact, today royal caribbean's first sailing out of alaska followed by carnival later this week carnival will be launching a bond sale to pay back debt, which is a good sign to see a cruise line looking to pay back some of its debt no major cancellations that's key if we see that, that could cha

the clerk: nomination, department of labor, seema nanda of virginia to be solicitor general. mr. schumer: i send a cloture motion to the desk. the presiding officer: the clerk will report. the clerk: cloture motion: we, the undersigned senators, in accordance with the provisions of rule 22 of the standing rules of the senate, do hereby move to bring to a close debate on nomination of executive calendar number 120, seem ma nan did a of virginia to be solicitor for the department of labor signed by 16 senators as follows. mr. schumer: i ask unanimous consent that the reading of the names be waived. the presiding officer: without objection. question is on the nomination. all those in favor, say aye. those opposed, say no. the ayes appear to have it. the ayes do have it. the motion is agreed to. mr. schumer: i move to proceed to executive session to consider calendar number 171. the presiding officer: question is on the motion. all those in favor, say aye. those opposed, say no. the ayes appear to have it. the ayes do have it. the motion is agreed to. the clerk will report the nomina

madam president, i also would like to urge my colleagues to join me in voting to confirm seema nandas solicitor for the department of labor. another nominee who has advanced from the help committee on a bipartisan vote. ms. nanda has served in the department of labor previously as deputy chief of staff, deputy solicitor of labor, and chief of staff. and she previously served as a career attorney in the department of justice where she fought to defend immigrant workers from discrimination and held employers accountable for unfair hiring practices. she has proven herself to be an excellent choice for this important role. we take some hard votes in this chamber. these should not be mopping them. workers are the backbone of our economy and that meanings every one of us should beviting for them and voting to confirm commissioner nanda and samuels will fight for them as well. i yield back my time and ask for the yeas and nays. the presiding officer: the question occurs on the samuels nomination. mrs. murray: i ask for yeas and nays. the presiding officer: is there a sufficient second? ther

the clerk: department of labor, seema nanda of virginia to be solicitor. the presiding officer: under the previous order, the senate stands in recess until 2:00 p.m.