seema mody is with us here good morning, seema. >> good morning. the u.s. and uk strike a deal.s part of the accord, the u.s. will remove tariffs on british steel and aluminum the uk will lift levees on whi whiskey. it's in an effort to mend trade t strained ties during the trump administration. >>> jamie dimon is reportedly facing rare investing criticism over his spending plans. according to "the new york times," he told his team last month that a multi billion dollar plan lacks detail, stating, quote, uncertainty is pretty high. it comes at a time when rival bank city is scaling back its international branch network. >>> and shares of gamestop are surging in premarket, this after a new regulatory filing shows its chairman ryan coleman bought another 100,000 shares of the retail yesterday pushing his shares to 11.9%. this premarket move comes after a nearly 30% rally during trade yesterday. brian? >> nice 12% gain for gamestop. diamond hands are forever. see what i did there >> exactly favorite meme stocks i hear you you got it. >> it wasn't good. seema mody, we'll see you in

a relief for travel companies but can it boost the stocks from here let's get to seema mody for more.erge from the pandemic. seeing a rebound in business travel 38% rise this year compared to last as sales associates get back on the road marriott telling me today the recovery is slaccelerating here's another hint that business travel is coming back sending the employees out there. the most popular destinations right now las vegas, orlando and new york city. cities that host big conferences. last year a different picture as leisure destinations dominated the travel searches across the nation and then higher prices. domestic round trip up 40% compared to january of this year international round trip is over $800 versus $650 spent in january. not talking year over year but three months ago this of course could influence how ceos think about the travel budgets. entertainment and travel is a company's second highest expense after labor. >> they are seeing higher labor. here we go higher travel, too >> this might be color but are the higher ticket prices for upgrading to first class that's

here is seema mody >> we were shocked and we didn't budget >> liz got sticker shocked after seeing how much her world trip of disney world costs this year. six years after her family's first trip >> 2016, seven of us went and we paid $350 for air fare round trip the same flight it is over a thousand dollars per person. >> reporter: those prices never came down. >> i'm a high school teacher we had students flying to see family for spring break and they can't go or have to drive because of the airline tickets the prices are so high >> reporter: many americans are in a similar dilemma the average price of a domestic round round trip ticket shooting up 200%. average international ticket $730 round trip. now the ban on russian imports is pushing fuel, oil and other prices to new heights. >> higher jet fuel prices is another reason that air fares have to rise for travelers >> for domestic air fares, we are expecting for it to climb on average of 7% each month going towards july for international air fares is a little hard to gauge right now especially with the situation of ukraine and russia

seema modi >> wheat prices are also up for the last six straight weeks.icrospeex ath 7% today. i didn't know my genetic report could tell me i was prone to harmful blood clots. i travel a ton, so this info was kind of life changing. maybe even lifesaving. ♪do you know what the future holds?♪ if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity. >>> welcome back the nasdaq has been falling, now down nearly 3% session lows but wheat prices soaring limit up for yet another session. dominic chu is joining us now with that. >> it's six straight sessions. that's how many times it's been limit up, meaning you get to a certainly level and they halt trading because it's gone too far. to put that number in context, 1,294 dollars was the last price for whe

thank you, seema mody. >>> still ahead, shares of portillo falling on disappointing results.es. talk to the ceo about cost headwinds and whether customers will continue to pay up. will continue to pay up. that's next. rcia's, love working with you. because the advice we give is personalized. hey john reese, jr. how's your father doing? to help reach your goals with confidence. my sister told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league! hey businesses! you all deserve something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-o

cnbc's seema mody is there now outside a pretty famous south beach hot spot, the clevelander on ocean drive seema. >> reporter: that's right, we are on ocean drive here in the heart of south beach this is where spring breakers come to party and the crowds have only been getting bigger by the hour as residents, tourists, even business owners tell us they are bracing for what could be another wild night. >> i expect to hear sirens at the stroke of midnight. >> reporter: a curfew will go into effect in miami beach county, but a number of spring breakers tell us they still plan to party. >> to be honest, i will try to stay out a little bit because i'm not from here. i want to enjoy myself but it is what it is, you know, a curfew. >> reporter: others are changing plans. a group of college students in town from ohio have decided to cut their trip short miami beach mayor says if the curfew doesn't stop the violence, his options are limited. >> the curfew is really the only thing we have left to do maybe an earlier curfew which i'd hate to have to do but if i have to, i will. we can't allow s

shep. >> seema mody, thanks so much. >>> cops called to a highway in philly because somebody was walkingr, two state troopers and the walker they were trying to help were dead. tonight the investigation and what the cops say caused it all. >>> a state of emergency declared in miami beach. a spring break emergency and a frustrated mayor as spring break crowds get a little too wild >>> but first, the 7-year-old ukrainian girl who went viral for singing "let it go" from inside a bomb shelter in kyiv, well, now she's safe in poland and singing her country's national anthem on a bigger stage in front of thousands and thousands during a charity event last night last night ♪ ♪♪ making friends again, billy? i like to keep my enemies close. guys, excuse me. i didn't quite get that. i'm hard of hearing. ♪♪ oh hey, don't forget about the tense music too. would you say tense? i'd say suspenseful. aren't they the same thing? can we move on guys, please? alexa, turn on the subtitles. and dim the lights. ok, dimming the lights. >>> a spring break state of emergency. miami beach officials today imposed

. ♪ ♪ ♪ >>> i'm seema mody and here is your cnbc news update at this hour the ba.2 omicron is the dominanta resurgence of covid cases in ash an asia and europe is raising concerns that another wave could follow in the u.s. although that is unlikely. the department of homeland security will be able to initially provide 2500 vaccines per day with the number increasing by 6,000 to the end of may tune in to the news with shepard smith on rolling out vaccines at the border. >>> at least three people are dead as officials continue to clear out the 50-vehicle crash that occurred yesterday on a pennsylvania highway the pile-up sent 20 others to the hospital with injuries in the condition. >>> will smith has issued a formal apology for striking presenter chris rock smith called his behavior unacceptable anden excusable as the academy opened an investigation into the matter. >> appreciate that seema mody let's talk about the commodity trade and oil dipped below $100 a barrel jim lebenthal, you had to figure that we would discuss this today. cliffs was down almost 10% and if not more than that early

with your cnbc business report, i'm seema mody. >>> 4:43 this morning and cracking down on crime. next on "today in the bay," we're going to tell you the new steps one bay area city's leaders are now trying to do to reduce crime in the city following a violent weekend. >> we have a nice, quiet start to our morning. right now the temperature at 53 degrees in dublin. we'll start to warm right back up again, another very warm day. we'll talk about that and a cooldown in your forecast coming up. >> and let's get a kick look at your tri-valley drive times. westbound 580 to grant line 680, 20 minutes. we'll take a closer look at bridge drive times coming up. and now most admired alum! get up there. this is so embarrassing. there's no way it's me. you know her.... you love her.... ruh roh. what are you doing here? it's anna gomez! who? our first gigillionaire! with at&t fiber, anna's got the fastest internet with hyper-gig speeds. i didn't know you went to this school. we have a lot in common. live like a gigillionaire with at&t fiber. now with speeds up to 5-gigs. limited availability.

>> seema mody, thanks so much. >>> cops called to a highway in philly because somebody was walking ono state troopers and the walker they were trying to help were dead. tonight, the investigation and what the cops say caused it all. >>> a state of emergency declared in miami beach. a spring break emergency and a frustrated mayor as spring break crowds get a little too wild >>> but first, the 7-year-old ukrainian girl who went viral for singing "let it go" from inside a bomb shelter in kyiv, well, now she's safe in poland and singing her country's national anthem on a bigger stage in front of thousands and thousands during a charity event last night ♪ this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibil

>> seema mody, thanks so much. >>> cops called to a highway in philly because somebody was walking onater, two state troopers and the walker they were trying to help were dead. tonight, the investigation and what the cops say caused it all. >>> a state of emergency declared in miami beach. a spring break emergency and a frustrated mayor as spring break crowds get a little too wild >>> but first, the 7-year-old ukrainian girl who went viral for singing "let it go" from inside a bomb shelter in kyiv, well, now she's safe in poland and singing her country's national anthem on a bigger stage in front of thousands and thousands during a charity event last night ♪ i've always focused on my career. but when we found out our son had autism, his future became my focus. lavender baths always calmed him. so we turned bath time into a business. ♪ and building it with my son has been my dream job. ♪ at northwestern mutual, our version of financial planning helps you live your dreams today. find a northwestern mutual advisor at nm.com >>> a spring break state of emergency. miami beach officials tod

tracks that country's market up 33% similar numbers across latin america but can the numbers hold seema mody looking at the markets for us hi, seema. >> hi. dump russia, buy brazil is a go-to strategy this year and the most popular way to invest is i shares brazil etf that saw its best week since november of 2020 gaining about 8% on trading at a discount. the top holders of this etf are asset managers morgan stanley, ubs tennessee pension retirement system in light of china's issues and investors continue to pivot away from russia, bank of america's latin america team says this specific region is ripe for outperformance it's worth noting the gains in this broader region are not confined to brazil argentina, mexico, peru, higher on the year. double digit dpans for some of these markets. a foreseeable challenge will likely be inflation, interest rates in countries like brazil already above 11%, and that specific economy is so reliant on agriculture, the recent soaring fertilizer prices continue to cut into margins that will likely be a concern for the foreseeable future for a lot of those mark

prices have soared since russia invaded ukraine they're up 40% in a month and that's off the highs seema modiave seema. >> kelly, whether it's the price of pasta, izza, biscuits, americans should expect to pay up as the cost of wheat continues to rise. the cost of a loaf of bread now up 26 cents compared to the same time a year ago. eggs up 40 cents remember, chicken do feed on wheat. all this is putting pressure on grocers and major consumer brands, specifically general mills, kellogg, that produce wheat specialized products like cereal, which by the way, is up 15% over the past 12 months. now, higher wheat prices should be better news for top producing states like kansas, montana, washington, but farmers tell us they're not innocentivized to plant more crop. >> the issue is input costs are going up even more than the cost of wheat >> now, in two weeks these spring wheat planting season will begin, and farmers do not plan additional crop, experts tell us we could start to lean on strategic reserves. the problem there is wheat production in the u.s. is down 35% since the peak hit back in 2008

nikesh arora the cdc dropping its covid travel warning for cruises our seema mody with a special guestyages. seema, take it away. >> thank you tom, welcome to "squawk on the street." appreciate your time this announcement from the cdc clearly good news for this industry that has been operating under this travel warning for two years. but yi think there are question afternoon the demand story curious what you are seeing. what is the level of interest in cruising now compared to six months ago when you and i met onboard virgin's scarlett lady in miami >> we are glad to see that the cdc is finally seeing all of the hard work that the industry has put into it, put into making cruising safe. i said to you many times before, we believe cruising is the safest way to travel given we require all our sailors and passengers to be vaccinated and all the other things onboard we are seeing a big boom i think we are ready for a boom in travel. people have been two years in their homes cooped up, ready to get out, and now they're excited. we have seen bookings that have skyrocketed up 120% since just

threatening to keep an 11-year-old boy from getting to his future family first though to cnbc's seema mody >> shep, good evening to you alex and anna moved to san francisco ten years ago. they are among the growing number of ukrainians here in america fighting for justice and calling to attention what they say has been a nightmare for their families back home victoria novokova lives in ukraine. her daughter anna and husband alex are among the 1 million ukrainians living in the u.s. heart broken and concerned about their parents' well-being. >> what's happening there is devastating. it's heartbreaking and it's a nightmare. >> anna, a chef in san francisco, has been using social media to raise awareness and funds for ukrainian families >> the minute this whole craziness began i started to receive hundreds of messages from people all over the world, especially from san francisco and the bay area people from my community, chefs, home cooks, bloggers they ask for ways to help us >> reporter: anna has been hosting cooking lessons over zoom on the menu is one dish that hits home. >> my mom's dump

deere is higher and seema mody has a look at the action running like a deere >> higher agriculture commodity expand farmers' budgets incentivizing them to buy equipment. commodity prices are rising when input prices are also soaring. deere debuting a seed and spray model to limit the fertilizers identifying the plants instead of weeds we know that technology is a key priority for this company and the ceo just last week opening a new tech innovation center in texas planning to release more disruptive devices and equipment for the agriculture world. shares on deere on pace for a best week since 2020 and outspending the peers on all things tech and reflecting in the stock price outperforming the major industrials so far this week. kelly and tyler? >> thank you this commodity inflation is a big concern affecting all stocks right now. energy you see oil up 25% this week but the wheat up 40% to a 14-year high for more on the prices and where they go next let's bring in bill baroque. where do you think we go from here >> we're not just looking at the front month whaetd but the curve and today while

starting to show in the data as well from flights from here to europe trending lower into last week >> seema modyme medicines and food all see a price hike here is nbc's sam brock. >> reporter: the skyrocketing cost of oil hit you at the pump tieing you to tens and thousands of other products. sure there is delivering the items. >> the majority of them are going to be on truck or rails which consumes diesel fuels. >> reporter: unknown to many shoppers, oil is in your products, too. >> petroleum derivatives make plastics like tv and smartphones and they're in furniture and carpet and evidence goods like moisturizers and sunscreen are packed in plastics >> reporter: at university pharmacy south florida, natasha patel sees the up tick on herh her shell. medications is on a steep curve. in some cases up 200% or more with petro chemicals often v involved with production >> it is so hard to tell patients that hey, your medication you need on a day-to-day basis to survive is going up as well >> reporter: it is a huge spoke in the wheel a lot of people know there is petroleum products in tires, what abou

as jet prizes rise, airfare is going up here's cnbc's seema mody. >> we were really, real will he shockedsmith said she got sticker shocked after she saw how much a round trip ticket cost this year. >> in 2016 the same seven of us went and we paid $350 for airfare round trip per person. currently the same flights we were currently hoping to go on are over $1,000 a trip per person. >> the prices never came down. >> i'm a high school teacher i have students who were flying to see their family for spring break. they said they can't go, or they have to drive because of the airline tickets. the prices are so high. >> many americans in a similar dilemma. the average price of a domestic round trip ticket smooting up. average international ticket, $730 round trip. >> now the bap on u.s. oil imports and crude oil. >> interesting that another airfare is having to rise. we do for domestic still experiencing that decline. on average another 7% each month going for july for international airfare, that one is a little bit harder to gauge especially with the situation in ukraine and russia. >> anna thom

seema mody. >>> my next guest says regime in beijing driving the moves rather than something else. michael joining us what do you mean by the regime driving these moves? >> well, if you buy a stock, right? buying it based on fundamental analysis the problem with chinese stock market right now, particularly in the tech sector, it's driven by two issues. first of all by governmental influence. in other words, is the government going to be okay with how you conduct business secondly, what's happening with the pandemic and lockdowns right now in china i don't think fundamentals really are driving these stocks anymore. really it's the government, do they like you or not like you? that's why we saw the bump the other day. nothing to do with fundamentals and everything to do with the government's perspective how these companies are doing business. >> what was the perceived change were you surprised rate of change in the stocks was so large? >> not really. because if you block 50%, kelly, go up 25% or 30% -- >> yes. >> the moves are not equal going up and down. i think investors now are re

cnbc's seema modi now at icon park in orlando. seema? teenage dream trip quickly plunged into a devastating tragedy. it happened in this thrill ride behind me. tourists have been stopping, taking pick take pictures and asking what's on everyone's mind, how did he fall to his death. >> operators can be told telling riders what to expect. >> have you been on before >> negative. >> 430 feet. >> that's great. >> you're coming down at 75 miles per hour >> as they make their way up, a sudden, dramatic fall. the freefall ride opened in december, holds up to 30 people and is considered the world's tallest freestanding drop tower according to the park's website. the florida department of agriculture and consumer services says the ride was inspected in december and that no deficiencies were found. >> we just had -- the florida department of agriculture arrive today, so they're doing more of the functional, mechanical side of the investigation. >> john stein is the sales director of slingshot group. that company owns the freefall ride he says the r

seema modi has more details. >> hey, mike we're starting to hear from more executives marriott ceo just gaming and lodging conference on the impact of the ukraine crisis hitting demand. he said we continue to see strong forward bookings into europe and the last four or five days we have seen a really modest uptick in cancellations, but nothing measurable at this point. marriott has about 28 managed and franchised hotel in russia it represents significantly less than 1% of total fee volume. not a big market, but again, the concern is the extent to which geopolitics will prolong the recovery the cruise lines have fared the worst of all travel related names and as it pertains to oil, morgan stanley says royal caribbean is the most hedged followed by norwegian cruise line back to you. >> seema, those things suggest what marriott is saying on bookings and what perhaps the cruise lines have to offer in terms of being somewhat hedged, would suggest that, i mean, we're basically, the market is trying to handicap some kind of significant scare in consumer psychology that's going to keep them fro

let's get to seema mody for a look at winners and losers. >> it is a big win for brazil, argentina, southo all seeing their respective stock markets outperform so far in 2022 but bad news for the emerging market countries that import the oil you can see them trading down in the year quantify to how much it costs, every time the price of oil jumps 10 bucks a barrel japan and south korea pay additional $25 million a day. india pays an additional $140 billion a year for turkey over $2.2 billion and hit hard by inflation. st strategists say central banks will be under pressure to keep the currency strong. one option of course is to raise rates though that can also weigh on growth so the way to approach the problem is highly complicated and comes down to how -- where the currencies are trading epa the growth data looks like. >> we see that china has to pay up big from these -- is another with way to deal with this. >> right china is an importer and exporter of energy they are in a better situation than india and turkey. they're sensitive to how high prices go from here. >> we have seen it for

season just around the corner, the experts are warning, prices are not likely to cool here's cnbc's seema mody >> reporter: the red hot housing boom continues to get hotter with home prices rising 20% over the last year. >> i don't think it's going to stop >> reporter: with less inventory available, more buyers are engaging in bidding wars with 52% of homes sold in january getting more than their listing price. that according to red fin. >> a shortage of homes they're very severe lack of affordable workforce housing across the country you mix it all together and sky work. >> reporter: rising interest rates, along with geopolitical uncertainty, making economists like mark sandy nervous. >> in a bubble now, and i think prices are juiced. >> juiced up, all right. the u.s. seeing a record number of cities with homes valued at a million dollars or more, and it's not just families on the hunt wealthy younger first time buyers are jumping in. >> i have clients that are making $20 million a year on tiktok that's unbelievable. >> reporter: for those not sitting on piles of cash or bitcoin, the hunt for

helpfosterchildren.com >>> as we mentioned, there are new numbers on room occupancy, taking a hit seema modyrning, seema. >> good morning, carl. the world's largest travel platform disclosing new numbser. room nights falling 10% over the last week, primarily driven by eastern europe, russia, and to a lesser extent western europe, which remains modestly above 2019 levels. this is trying to convey to wall street that the impact of this crisis on travel is confined to a specific region an follows, of course, a sharp drop down about 24% as soon as russia's invasion began. as to comments made by the marriott ceo yesterday, addressing the impact of geopolitics on travel, saying bookings to europe are strong, and that just in the last few days some of the seen a modest up tick in cancellations other executives i have been talking to says the broader recovery remains intact. demand especially in the u.s., he says, continues to accelerate on thursday, we will get a fresh read on u.s. hotel occupancy, a key metric that wall street keeps an eye on. looking at the european travel stocks have been under

seema mody with what areas are hit hardest. seema?d at which oil prices have risen but emerging markets in a precarious situation. japan and korea, import every time price jumps $10 a barrel daily cost rises by $25 million. approximately $90 billion a year india, second largest importer of oil, about $140 billion a year china also pays off even though importer and exporter of energy. no coincidence stock markets of these countries are trading down on the year. whereas energy-producing nations have seen their respective stock markets rise in 2022 led by brazil up 9%. argentina, south africa, mexico in the green underscoring how investors get more selective where they're placing bets given rise in commodities costs. of course the outlook for these nations depends how central banks respond. typically emerging markets central banks follow the fed already seen brazil move and russia as well. >> right exactly. they have to kind of move based on their own internal dynamics and i wonder, seema, to what degree some of these companies on the ot

. >>> higher prices at the pump are starting to impact all corners of the travel industry seema modyock prices, as oil prices take a breather still sitting on losses for the month and year evercore isi writing that the international travel outlook remains fluid, showing americans are rethinking transatlantic trips. flight demand from the u.s. to europe down about 9% from expected levels. destinations close as to proximity to the conflict are suffering the most, as expected. part of the issue is the higher cost for travel. international round trip tickets goes for $720. a domestic round trip is up 26% compared to the same time a year ago. checking into a hotel, expect to pay about 40% more we could see americans stay closer to home in the first half of this year. marriott and intercorrespondent nenl will 15% of their earns from europe, since the invasion, airbnb, which is seen more of a stay-at-home domestic play has been faring better, tracked by the away etf timeshare stocks, marriott vacations, they're also outperforming, getting an upgrade from analysts at truist. you is see up ne

seema mody has that story. >> as the pandemic is waning, travel executives have to deal with the risingestion is how quickly the three largest publicly traded names with offset with higher ticket prices. morgan stanley is forecasting an 8% price increase of the three royal is seen as the most hedged followed by norweigian back in 2007 when oil was over $100 a barrel, cruise operators responded with a fuel surcharge which was droppedin 2008 because it was seen as unpopular among customers. the prospect of a surcharge this time comes as demand has been improving in recent weeks, but still far off from pre-pandemic levels higher oil prices spells trouble for land-based travel. it cuts into travel budgets at a time when hotel prices you are up 40% compared to the same time a year ago that according to sdr. and as to the broader effect this could potentially have on travel what's interesting to note if you look at kayak search travel you'll see that the day that russia invaded ukraine on february 24th was the day we started to see flight searches tick down. so clearly you are starting to see

seema mody is looking at brazil and latin america, outperforming other major global indices can the rallyormance of last week, emerging markets saw $3.5 billion in inflows last week led by brazil and latin america. if you look at the u.s. listed ewz etf it's now up over 30% this year, outpacing the gains of nearly every global market as fund managers continue to move money out of russia for context, the s&p down 5% this year. and even with this year's gains, strategists at bank of america, merrill lynch write that brazil's valuation is still at an all-time low following last year's horrible performance. price to ratio, price to earnings ratio 7.5 times they say latin america is, quote, ripe for outperforms. also adding it that rate hikes in brazil are peaking whereas here in the u.s. we are just getting started. inflation risks though are adding up. jpmorgan revising the forecasts for brazil to around 7% for this year the country is also the top producer of sugar, soybeans, coffee and does rely heavily on russia for fertilizer dwindling supply and of course higher prices could pressure it

. >> we have breaking news on yet another company pulling out of russia this hour seema modi has theus >> general electric, the next company to suspend operations in russia with the exception of providing essential medical equipment and supporting existing power services to people in the region a spokesperson for ge telling me we continue to work closely with the proper authorities to insure compliance with sanctions as well as all laws and regulations, but ge here suspending operations in russia as it pertains to footprint, in russia, it has about less than 1,000 employees, and revenues that represent about 1% of total revenue in russia. shares basically unchanged after hours. back to you. >> the great western retreat continues from corporate america. seema, thank you >> we're just getting started here on the second hour of "closing bell. up next, we'll be joined by energy secretary jennifer granholm with her take on the new u.s. ban on russian oil and gas imports. what that means for energy prices >> and later, rebecca patterson on whether she thinks a crypto comeback could be on t

among the hardest hit names on wall street, in part on concerns surrounding the ukraine crisis seema modiback after hitting new highs following strong earnings just a couple weeks ago. hilton and maruate ending the week down nearly 20% mcquarry cutting the price target on norwegian cruise line from $30 to $23, analysts saying no major shift in the demand story, but now these broader concerns around the cost of fuel. that's weighing on estimates they are reiterating their outperform rating. shares falling for three weeks in a row norwegian along with royal caribbean suspending operations in russia this week. carnival's aida line saying it will not stop at st. petersburg port this summer as previously schedule and it follows for online travel platforms. bookings holdings which generates a significant amount of traffic in europe airbnb did fare better on the week on monday, we'll have a look at how travel to and from europe is starting to be impacted by the ongoing crisis in ukraine. geopolitical issues do typically result in a fall in tourism, similar to what we saw in turkey following an u

seema modi as a look at how the tensions in europe are hitting that space just when people were gettingxcited about the outlook for travel this year >> mike, that's exactly right. a lot of it has to do with the energy picture as well travel and oil prices tend to have an inverse relationship, specifically the cruise lines. fuel is their second largest expense behind labor historically, making up approximately 20% of their operating cost in 2019, carnival, which is on track for its worst day in three months, spent about $1.6 billion in fuel, and that number is expected to rise for all the cruise lines as they bring more ships back to sea. elsewhere, we're looking at airlines on track for their biggest two-day loss in nearly a year and also worth noting the move we're seeing in some of the hotel and booking platforms. airbnb shares, guys, trading higher today on a day where hotel and expedia booking names are trading down likely on this idea, mike, that as geopolitics continue to rise, more travelers will want to stay closer to home >> and therefore benefitting airbnb as happened in the p

today it's the topic of conversation seema mody is going to join us with more from washington.ers want to send billions of dollars to the chip industry before the summer begins and they're counting on the chip business to help build that momentum the ceos will testify before the congress committee today i spoke with the chairwoman maria cantwell about why it's important. >> we have shortages today, but that shortage could be prolonged into the future if we don't get busy here. >> but this is part of a broader innovation agenda. there are versions of the bill that need to be worked out like the research priorities, trade provisions, and $10 billion for a moon landing program that could benefit blue origin. vermont senator bernie sanders tweeted this, quote, at a time of unprecedented greed, the u.s. senate is right now debating giving $53 billion to the highly profitable microchip industry and a $10 billion bailout to jeff bezos so that he can launch a rocket ship to the moon. lawmakers on both sides of the i'll say they're determining to reach a resolution the old-fashioned way