. >>> a black enterprise found that many companies had no black employees at all seema mody joins me hat's right, companies are hiring more people of color, but it shows that less than 17% of slots are held by minorities investment firms like kkr are partnering with organizations like sponsors for educational opportunity to get low-income students through college while its careers program places minority graduates in banks and private equity to discuss the path forward for wall street, i'm joined by kkr co-ceo henry kravis and its president. thank you for joining us it's a pleasure to have you on cnbc >> it's nice to be here. thank you. >> corporate america is trying to understand how to address the lack of diversity in the workplace. you've been a big supportive chair on the board how has it affected how you recruit minority talent, henry >> well, we've worked at recruiting minority talent for a long time. this isn't something that just happened two weeks ago we've been at this for a long time we set up an inclusion and diversity council probably five or six years ago we hired a chie

seema mody with our report there. >>> we're going to drill down on the individual sectors and the biggest casino stocks eno struggle as they try to reop caesar's paying customers to wear their masks we've got more details on "the exchange." 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 but a resilient business you cacan be ready for it.re. a digital foundation from vmware helps you redefine what's possible... now. from the hospital shifting to remote patient care in just 48 hours... to the university moving hundreds of apps quickly to the cloud... or the city government going digital to keep critical services running. you are creating the future-- on the fly. and we are helping you do it. vmware. realize what's possible. this virus is testing all of us. and it's testing the people on the front lines of this fight most of all. so abbott is getting new tests into their hands, delivering the critical results they need. and until this fight is over, we...wi

seema mody explains. >> the u.s. being left off of the u.s.afe list instead lifting travel restrictions on 14 other countries inside of europe including australia and ya pan china will be included that s a zrouing destination 50 million visit annually and they are a pillar to the economy. so there is certainly an economic impact here they reacted to this travel ban saying "as we see numbers going up it is understandable that governments may reinstate travel restrictions it points to how important it is to keep everyone healthy and the huge impact on everyone's health and that travel cannot fully recover without safety the europeans said the list is not political in nature, but the u.s. travel came out saying that if this pan was to be nut in place a retaliation could be in the cards. in the meantime domestic travel will like i will be limited. >> the last day of the month closing out the dow fractionally higher, s&p up by almost a percent. nasdaq up by one and a third back in two. (music) anncr: give customers access to precisely what they wan

seema mody, it was looking good. >> yeah, after witnessing a 4% drop yesterday, none of them stopped wall street strategist from seeing opportunity in europe a 20% upside in exquit quities . next week europe is taking a giant leap toward reopening for summer travel. they are lifting their travel ban for 41 mur mean countries. european companies also across different industries joining growing calls to address krashl injustice. some of the real known names in fashion, along with automakers bmw and mercedes doing the same. henry kravis is going to join me to talk about how wall street firms can do a better job embracing diversity. >> that is a big interview, we'll see you then >> let's get to sue herrera this morning. >>> good morning here is what is happening at this hour louisville planning to ban no knock warrants the legislation hob nors breonna taylor >> with this law she will get to continue to do that. we're grateful for that. she would be so, she would be so happy. >> oregon pausing reopening efforts amid a new daily nigh covid-19 cases they will investigate the causes of the s

. >>> welcome back today our seema mody is looking at corporate boardrooms. what did you find?> scott, companies with a higher proportion of ethnically diversion -- just 81% of board directors are non-minorities 10% black, 5% hispanic, 4% are asian. diversity reports issued by big tech companies show companies like amazon, apple, google and facebook are hiring people of color, but as you climb the corporate ladder, the number of if roles decrease. 3% at the leadership level yale's jeff sonnenfeld telling me that has companies looking inward to help minorities advance their careers and get to those senior positions mastercard telling us it's defining inclusion as a leadership skill, inert measuring how leaders successfully build diverse teams. goldman sachs says it -- unless it has at least one woman or non-whiteboard member. starting in 2021, the state of illinois requiring companies to begin disclose the number of women and minority board members, all seen as steps in the right direction, scott, because clearly more needs to be done on the policy size, but also in corporate am

i'm seema mody paypal and square both getting hit hard today after rallying more than 70% so far thisalance getting a downgrade to neutral on valuation concerns we have the team here. mark tepper, i'll start with you. buy, sell or fold? >> i would definitely prefer paypal over square we've been in and out of this thing for a while. right now we're out of it. they're both expensive, i would be waiting to pounce if and when there's a pullback in paypal the issue i have with square is they have a lot of exposures to small mom-and-pop shops, the once that rely on foot traffic and the ones that have been devastated by this crisis. paypal is more on the e-commerce play, and i do believe the shift to e-commerce will sticky. it won't go away even when you're doing business in person, more and more people are preferring additional. square does have an advantage or paypal's venmo, but i would see it as a catalyst i think paypal would have to drop for the 140 level for us to deliver. >> what are some key levels to watch? >> so let's talk about paypal versus square for a minute paypal has gotten

i'm seema mody small caps leading decline handedly beating the broader s&p 500 since march bottom to break down the move, let's bring in the trading nation team gina, curious whether you think the outperformance in small stocks are justified >> yes they were definitely the group of stocks expected to have the most impact by covid-19 and i think that is still the case as we have seen some positive news rolling, the idea we're starting to reopen and turn the corner, i think there's a concern that some of the pessimism that was priced into those markets need to be taken off. the one thing we need to be cautious is of these are not good values. right now the small cap segment is very highly over valued i think it's a very cautious play at the moment >> todd, gina makes a good point. small caps do trade at a premium to the s&p 500 how does the chart look? >> it sure does. we old iwm at our portfolios they have been out performing since the march bottom but they have been under performing for six years. it's hard to call an end to this the recent push is a response to reduced expectation o

seema mody joins us with more. >> vacation rental bookings down 60% year to date and a recent rebound40% in the last week of may compared to the same week last year, that data according to suntrust. demand is particularly strong in nonurban markets, about 60 to 80 miles from big cities. prices are starting to go up in select markets, the average daily rate at a vacation rental in beverly hills about $1,000 a night compared to $450 in may of 2019 a rental in the berkshires up to $171 a night come parred to 113 last may is this a lasting trend? bring in matt roberts, interim ceo of vacation rental platform and former ceo of open table welcome. >> thank you. >> why do you think demand is increasing when stay-at-home orders are being lifted? >> yeah. i think there's several factors. one, everybody is eager to get out and to travel again. they really want to get out of their house and they want to be in a home just not their home. a there's flexibility with remote working right now. kids activities canceled and really a preference, a share shift if you will to professionally manage vacatio

i'm seema mody health care is one of the few sectors in the red today, but check out the moves this year one of the few groups that is closest to recapturing its highs set back in january, for whether there are any stocks that could ride the record move, let's bring in mark newton of newton advisers and mark tepper of strategic wealth partners great to see you both. mark tepper, the race for a vaccine has put pharmaceutical companies in focus what's your top pick in this space? >> yes, so if we look at pharmaceutical companies, my favorite would be bristol-myers. so it's been a laggard, and that's what i would be looking for right now, because health care has been one of the top performers since the beginning of the crisis. so bristol-myers has lagged the health care sector by about 6% this year. the reason ilike it is it is a pure play on cancer, which, you know, let's not forget, cancer is still the number one medical problem in the world and now common sense would tell us that before you actually get cancer treatment, you need to be diagnosed. and with that being said, cancer screenin

. >> seema mody, thanks.ave to ask you, i know you're not a fan of the cruise stocks. the recent action, what does it tell you now that we know they will push their days farther back spot fall how cheap are these stocks >> they are not cheap. >> go ahead, josh. >> i would say they are not cheap, cheap on the basis of what the value of their assets continues to come down and the potential earnings continues to come down. so it's really hard to use the descriptor when you don't know what it's applied to, it's melting away faster than sentiment. it's a very, very tough space. i don't know what to make of these and i'm not involved. >> stocks tripled off the lows because they were basically priced for stings, given back a third of that gain they trade like call options on maybe we'll sale early next year a lot of stranded capital, if you consider how much debt they have raised and all they are doing is burning through it as they don't take customers on. >> mike, we've got just about two minutes left what else are

ports seema mody has the details. >> cruise industries suspending salgz from u.s. ports until september 15th now that means the cruise lines will miss out on the peak summer season carnival and royal originally had plans to restart some sailings in august cruise industry spokesperson says at decisional time will allow us to consult with the cdc on measures that are appropriate for the eventual resumption of cruise operations. in the meantime, all three cruise operators are burning cash as much as $650 million a month for carnival don't be surprised, sara and wilf if the grucruise lines go k to the debt market to raise more money. they already raise the $6.6 billion in debt and equity. now they're in the zero revenue environment for a considerable amount of time back to you. >> yeah. well, luckily for them, the debt market has been wide open. thanks to the fed. thank you. >>> amc reversing its earlier decision to not require customers to wear masks. previously saying, "we did not want to be drawn into a political controversy. the movie theater operator plans to reop

seema mody has got that. >> the european union beginning to reopen its borders to 14 countries outsidet is calling its safe list the u.s. is noticeably absent. that means americans are barred from entering europe starting july 1st, which is tomorrow. some of the countries that made the cut include australia, japan, south korea this list will be updated every two weeks and will evaluate a number of different criteria including the epidemiological situation, the case count in regards to covid-19. so there certainly seems to be an evolving situation as the eu looks to reopen its borders and lift restrictions that have hurt a lot of economies in europe that are so dependent on tourism, for example, croatia which makes up 28% of its gds from tourism, spain, italy and greece 10% or more and summer is when you see these countries see the bulk of that tourism revenue made >> thank you for that. >>> seema, for that jim, your thoughts certainly knowing italy well, they are lifting the restrictions from china if it's reciprocated >> it does have that kind of developing world feel versus a develop