, hotels making changes as trends among travelers shift due to the coronavirus pandemic our own seema mody breaks down what they're doing to keep guests happy at hotels right here >>> today's big number 88%. that's how much capacity fell in united airlines in the month of june over the prior year shares of unitedav he tumbled over 60% this year now is the time to support the places you love. spend 10 dollars or more at a participating small business and get 5 dollars back, up to 10 times with american express. enroll now at shopsmall.com. if you've had the coronavirus, you've got a lot of fight in you. and you're in a special position to help us fight back. the plasma in your blood can literally save lives. but we need to act fast. please donate plasma now. please donate. donate. donate. donate now. you fought for your life. now let's take the fight to covid-19. go to the fight is in us dot org to find out how to donate. >>> welcome back what you're seeing is a live shot of times square in new york city mid town manhattan. i'm not going to say it because you can see right now the streets a

obviously, travel-related names have been the story of the morning on those vaccine hopes let's get to seema modyhey, seema. >> carl, the best performing sector, cruise lines leading the charge i'm hearing carnival has priced a new bond deal. at a rate of 10.5% and 4. 25 million euros april, suggests some investors are growing more confident about the prospects for the cruise lines. other travel stocks on the move including hotel operators, online travel names like expedia and booking with optimism around a vaccine continues to grow. i point out that analysts are cautious about the rebounds. until a vaccine is widely assimilated, they believe subfactors in travel will remained under incredible pressure julia, back to you >> seema, dramatic moves there >>> in case you missed it, our parent company nbcuniversal launching its streaming soft a peacock nationwide today peacock chairman matt straus joined u "squawk alley" returns in two minutes. >> we see a path of 35 million monthly accounts advertising is primary revenue stream but as you mentioned there is also a subscription version for peacock so

seema mody, we have cabin fever. we need to get out but we can't. >> it's getting more expensive to get out you're seeing as a demand in vacations rise, they're pricing higher florida keys, prices for a vacation rental up nearly 14% in the month of june compared to the same period last year. marriott invested in villas lan homes last year. it's seeing the highest gross revenue since 2019 last year airbnb finding out that in rural areas in the u.s., it's earned $200 million in the month of june that's compared to 25% from the month of june in 2019. that vacation rental getting a bit more expensive but alternatively helping homeowners >> what are you going to do, frank? day trips? >> i'm from philadelphia, and we take a lot of trips to the jersey shore which is an easy day trip i think day trips are one solution, but obviously things will get more expensive as we're all stuck in the house and we want to go somewhere else, so everything seema is saying makes sense to me. >> kate, your dog wants to get out. >> i'm sorry

kate rogers, mike and seema mody coca-cola has seen the biggest drop in sales in 25 years.nbc's own sara eisen is with us now, because if we're talking coke, we have to talk to sara. what 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, an

i'm seema mody at cnbc headquarters. today's top business headlines. wall street is set to open slightly lower this morning after stocks rallied yesterday to close out the month and the second quarter. snapping back from the historic sell-off that was triggered by the covid-19 pandemic. the dow rising nearly 18, its best performance since 1987. the s&p 500 rising about 20%, its best quarter since 1998. and the nasdaq soaring 30%, the most since 1999. it's worth noting the dow also had its worst first half to a year since the financial crisis and is still down 10% year to date. in focus today a report on hiring in the private sector is expected to show an increase last month as people who had been laid off or furloughed started returning to work. google is delaying the reopening of u.s. offices by about two months to september because, of course, of the surge of the virus. they would reopen buildings at 10% in early july and scale it up to 30% in september if conditions allowed. google has been 100,000 employees in north america. >>> 7-eleven canceling

places like florida, california and texas while other states start to ramp up amid new concerns seema mody here with us. >> a new report has found new outbreaks urging officials to impose tighter restrictions. 21 states are in the red zone with missouri, north dakota and wisconsinthe latest ads. >>> moderna to price the coronavirus vaccine at $50 to $60 a course the price would apply to the u.s. and other high-income countries but the final price is yet to be determined in washington, senate majority leader says he will not pass the bill unless it includes protection for businesses. >> that will be subject but we are not negotiating over liability protection i'll be responsible for putting the final agreement on the floor. it will have protection in it. we are not negotiating over that >> a new report that apple was the fastest growing smartphone maker in china with sales at $7.4 million still pailing in kpir son to huawei in china. brian. >> seema, i'm old enough to remember the trade war when smart people said, apple is never going to sell any phones in china now they are the fastest gro

hour seema mody has the story and they are reversing early gains. it is not a fraction of the day. reporting better than expected second quarter results thanks to a rebound and europe's most valuab valuable tech company. adding to the guidance that stock is up about 4.5% per day. next week earnings in europe kick off in earnest. a more than 50% drop in profits. the first edition since 2015 that would push the total number of countries in the euro zone to 21 it finance ministers are set to make a decision on this by the end of next week >> thank you we continue to watch as well the u.s. markets and major averages. the s&p down 1 and two thirds. the s&p down about a percent walgreens boost after leading the dow lower. we'll be right back. ♪ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ >>> welcome wac, confirmed covid-19 cases around the world have gone above 12 million, a kwu quarter of those are in the u.s. cases fell just slightly on wednesday, but

. >>> european markets set to close in just a moment seema mody has that breakdown. seema?n, stocks are mostly higher across europe, but perhaps getting more attention is the eurozone currency. trading at a four-month high versus the dollar. as leaders in europe locked in talks since friday appear to be getting closer to agreeing on a stimulus plan that will include a combination of grants and low-interest loans the size of the fund is being determined talks continue tonight in brussels analysts say this plan is critical to keeping borrowing costs low in nations like spain and italy. it's also a test of integration between the 27 eu member states. speaking of italy a merger may be in the cards between two banks. intesa san paolo in talks. and beijing could impose export controls on nokia and ericsson if the eu bans to move huawei 5g technology to networks >>> and dominic raab announcing in the last hour that the uk will suspend its extradition treaty with hong kong and extend its arms embargo on china to include the territory. this, of course, in response to china's controv

for more on the booming home front, let's go to seema mody for trading nation >> one name that is benefitting that may not be as obvious, farm equipment maker deere. strong demand for out door products like lawn mowers and garden equipment over the past three months let's discuss the stock and where it's trading >> i'm encouraged by the call. i've been doing a lot of gardening myself in this environment but when you look at the numbers even if john deere turns around and hits the numbers that theage i agnalysts projects for 2021, it shows them with a multiple of about 17, which for this stock is very, very rich. i'm really not sure you're getting a lot of value with this especially with so much debt deere has an incredible amount of debt on the balance sheet i'm encouraged by the call i like it. it's not a fast grower i wouldn't be a buyer here >> treating at a price to e price-to-earnings ratio well above its peers. performing better than a number of the industrials where do you think it heads from here >> from a short term perspective to see this stock gap up on good news is a good thing i

that is judy shelton, the nominee to the federal reserve >> thank you very much now we go to seema modyines reporting earnings at the bell that will provide a fresh look at how the industry is fairing when air travel is softening as covid cases spike in some parts of the united states the trading nation team today is scott gordon bori, i know you're not fan of the airlines but is there something unite could say after the bell that would perhaps make you bit more optimistic? >> i don't think so. they are trying the best they can. they've had a big bump return back in passenger models but at this point, if you think about the airline business, 10% of travel is business travel. those have to travel are opting for fractional jets and other ways to transit because they are afraid of covid. what you're left with is the lowest common denominator. ais the whole airline business is going for the spirit airlines quality momentum given where you have to chase the lowest common denominator. southwest which never really has to rely on that business travel or paycheck. i just can't see how they can m

i'm seema mody gold topping $1800 for the first time since september 2011.f our next guests sees another goalpost our trading team today is here boris, what do you tie gold's recent yoism performance two ed fed low inflation? >> i think it's all those things i wrote today that gold is the real bitcoin a little snarkily this morning it's making the bet that inflation is starting to pick itself back up of course, is the balance sheets have ballooned because of the covid crisis, but what's different now, from the time of 2008, 2012 when we had the qe, all of that balance sheet that is gone to surreptitiously gone to finance the fiscal expansion rather than the bank reserves. that means the money will -- that's likely going to drive inflation higher of course, you can have higher inflation. the banking will still have to keep rates very, very low, because their first and foremost priority is to maintain a momentum, maintain expansion as much as possible they'll suppress interest rates, a and, of course, gold loves nothing more than interest rates going lower and

here with her take today, seema modi, kate rogers and leslie picker >> thanks in part to $100 billion inflows as investors lead to fixed incomes due to coronavirus uncertainty leads to $7.3 trillion in uncertainty with blackrock liz, what should we be focused on with this number? >> when you look at blackrock, it's all about the flows of their businesses, and what was interesting and stood out to me was we saw about $4 billion in equity funds, which is surprising because of the appreciation we saw in the stock markets over the quarter then they sought inflows of about $60 billion. we saw a 30% increase in those products year over year. that's surprising because historically people haven't really turned to fixed income etfs as much as they have in equity etfs. in fact, the equity penetration is about 5%, fixed income is about 1% so far, so that was seen as a big bright spot of their earnings and the potential for that product moving forward. >> leslie, for some context, this was a strong quarter. that was partly expected because of the market rebound. q1 was disappointing, which i woul

. >> wow, seema, thank you seema mody with the recap. >>> it's been a sea of red, but one big-bock retailer is bucks the trend. what is behind this big boost, next. >>> betting on roller coasters lower after a big upgrade. ia ndic the treat want to buy itn paem we're back in two. geico's been helping people save money for over 75 years. they've really stood the test of time. much like these majestic rocky mountains. which must be named after the... that would be rocky the flying squirrel, mr. gecko sir. obviously! ahh come on bullwinkle, they're named after... our first president george rockington! that doesn't even make any sense... mr... uhh... winkle. geico. over 75 years of savings and service. 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...will...never...quit. because they never quit. >>> they reported a nearly 50% drop, they also plan to close about 200 stores to cut costs. corti reagan spoke to the c

. >> thank you for having me have great day >> charles barkley >>> let's get to seema mody. >> ceo arnoldonald said nearly 60% of 2021 bookings are in first three weeks of june. it can break even at a reduced occupancy to accommodate social distancing on board. let's bring in the trading nation team here to discuss. mark, best performing stock on the s&p today but still down about 70% from its recent high >> carnival still looks like a gamble we don't know a whole lot. there's two charts to put this into perspective one is a daily it shows the stock down about 30% since june 8th the market has been down about 11%. you can make a good case for its risk reward and maybe the worst is behind us and the market is f forward looking. when you look at a weekly chart and monthly chart and put this into perspective and the stock is down over 75% in two and a half years it's a lot of uncertainty to want to own the stock long term. >> we have seen an improvement in the economic data is that bullish for the consumer and therefore the cruise lines as well? >> it may be slightly bullish for the consumer

here to dig into the headlines for us are julia boorsin, eric and seema mody good morning, everybody.eal includes spotify, access to a catalog like lady gaga, drake and taylor swift it adds the label to its two-sided marketplace which that means the labels would potentially pay spotify for the market, analytical data. spot if i doubled in the past three months alone that's crazy they've been up to so much lately >> exactly and this speaks to the long-term spotify. it's not just a subscription business this is an opportunity to also generate revenue from the music labels this label universal will be able to use spotify to promote its artists. when you look at a time when there are no concerts, that revenue stream is dried up, it's really important to use spotify for sales of other things, whether it's merchandise or event waually down the line conr tickets. >> they buy the joe rogan podcasts and people are thrilled, and they're doing this deal and people just can't get enough >> they're clearly in growth mode they said we're going to focus on growth and not necessarily making a profit.

seema mody is here for that. >> we're looking at stocks right now off the lows of the session, but still in negative territory with the dow down 116 points the session low was down 174 the nasdaq is the worst performer today so far weakness in names like microsoft, amazon and apple. that's reflected on the sector level as well with technology being the biggest laggard along with consumer discretionary and communication services on the upside we have financials and utilities up fractionally on the day. turning to gold, hitting the highest level since 2011 amid continued its move to the upside here, up another 1.5% year to date up 24%. >> it's a monster mover. we'll talk more about that >>> let's dig into the jobless claims figures, they're rising for the first time since march 1.4 million more people filed for unemployment benefits last week that number doesn't fully capture the fallout from the pandemic let's bring in steve liesman steve? >> kelly, thanks traditional jobless claims continue to run at an elevated level suggesting that the labor market remains challenged. another measure t

it is time for "rapid fire," and here to take on the headlines are seema mody, eric chemli and juliatin thank y -- boorstin. >>> global monthly active users surged almost 40% year on year to more than 40 million, so the stock is up more than 30% today, easily its best day ever julia, you spoke with the ceo, right? is this sustainable? >> unfortunately, i did not get to speak with the ceo, but i did list ton the earnings call and the ceo had lots of interesting things to say. here's the thing, kelly. in july they saw 50% revenue growth, and for now they project that in the third quarter they'll have 30% revenue growth. there are two things at play here number one, they are benefiting from the facebook boycott. they're saying they're watching to see how much of those increased advertisers and increased spend is due to the boycott, but they've been taking this it as an opportunity to talk to brands about the fact they don't have that messy political ad conversation on the platform, and also they're seeing a surge in younger users. they're seeing twice as much growth in users under age 2

here with their takes on dominic chu, seema mody and kate rogers. good morning, one and all. sherwin williams putting a good picture in their second earnings report they saw professional demand for diy paint products they even gave a forecast, guys. they think 2020 will be about the same as 2019 dom, not a lot of people can say that shares are up by 61% >> this is a trend that has been in place ever since the covid-19 pandemic began we've talked about zoom video, peloton, netflix, but a lot of folks out there who have tried to use the time to make improvements in their home have been doing so at home depot become the beneficiary it's not just sherwin williams doing good here. look at baer selling paint at home depot ma many products are getting a lot more demand, so if you're able to purchase some of these things and spend the resources, this will be a trend that stays in place especially if people with financial means -- and that's important -- with financial means continue to spend more time at home and develop more resources towards improving. >> this is a real question, s

see seema mody, frank holland, kate rogers shares of royal caribbean, norwegian cruise lines, carnival all up double digits seema, it is welcome news for an industry that continues to burn cash as the ships are in port. >> yeah, that's exactly right, tyler. today's price action reflects just how dependent cruise lines are on a vaccine in the meantime, they are working on all these new protocols they hope to introduce once they potentially get back to sea this fall social distancing on board, masks, temperature controls reducing the occupancy they operate at, which we discussed about royal caribbean about a month ago, but they're not going to make much money with all these new protocols, that's why they're depending on this vaccine not only coming to market but being widely available to the masses. yes, it's great to see these cruise lines up double digits, but you need to have this vaccine available to everyone, specifically the individuals above the age of 70 that have preexisting conditions that may not be comfortable getting on board. >> what are you hearing about bookings late into

. >>> europe's going to close largely in the red seema mody's got a breakdown this morning >> hey, carltocks are pulling back from four-month highs led by declines in france and spain. it follows a weaker session in asia after the state department ordered china to close its texas consulate on orders of spying. there is also a new big-tech antitrust battle in europe with slack filing a complaint against microsoft, with the european competition alleging uncompetitive behavior they say they used the office suite to add users to a weak copycat product. the eu commission this morning says it's received the complaint and will assess it under standard procedures. now, this is the second time a big-tech rivalry has spilled into the european commission following spotify's complaint against apple last year. >>> finally, can't seem to hold the euro down. td securities today saying it should extend its gains against the dollar as the eurozone has done a better job in managing the coronavirus than the u.s the euro currency, worth noting, up 7% against the dollar over the last three months. julia, ov

seema mody is joining us. >> reporter: andrew, defaults could be a wake-up call for investors who have allocated $20 billion in municipal debt since march. a low risk way to generate tax free income. in the past two months there's a concerning trend that has emerged. two retirement centers in florida. cancer therapy clinic in tennessee and the whole city of bearfield, alabama, has defaulted on the municipal bonds. bringing the total number of delinquencies at 50. that's the highest since 2011. up 40% for the same period from a year ago as cities and states across the nation face a massive budget short fall. so far this year florida is where the most defaults have occurred as tourism revenue has dried up it's the same challenge that face economies that rely on travel and hospitality market analytics sees another growing risk education. students housing, smaller colleges could get hit hard. that's why pressure is really building on washington to provide that additional funding for local municipalities andrew >> what's your handicap right now of whether there's going to be stimulus, if yo