time high the dow at its highest level since february we have two huge interviews this hour first stephen ross of related company is a real estate firm of $60 billion in properties. he'll tell us why he thinks corporate america is entering into a cost cutting spiral that's what he's doing and he's seeing it elsewhere. "power lunch" starts right now >> welcome opini let's take a quick check on the markets. the dough is up. the s&p 500 is within striking distance of an all time high amazon and netflix all flat before the session financials and energy stocks both up more than 2% right now as that reopening rally seems to be broadening out. tyler. >> thaunk you very much the other group out performing today is boeing and the airlines boeing, united airlines, american, jet blue, southwest all jumping higher as the reopening rally gains steam. phil has more on the moves in those sectors. high, phil >> it's all about optimism it's not looking at the near term which is ugly and how ugly is it. take a look at the july order and delivery numbers from boeing this is not a surprise everybody expected boei

. >>> coming up next hour, bi billionaire stephen ross he joins the gang to talk about reopening, football estate "power lunch" starts after this quick break. experience the joy of a bigger world and a highly connected lexus vehicle at the golden opportunity sales event, lease the 2020 es 350 for $359 a month for 36 months. experience amazing at your lexus dealer. >>> welcome, everybody this is "power lunch." we start with the market rally it's less than a percentage point from its all time high the dow at its highest level sinc

stephen: ah! god, . don't ever scare me like that again, chuc tonight's host, tracy ellis ross, laid out just what makes a leader: >> real leaders dont ask what we can do for them. they ask what they can do for us. >> stephen: (as trump) "but great leaders ask: i want of democrats, it was, though." constitutionally obligated that at least one kennedy speak. tonight, it was two, caroline kennedy and jack schlossberg. okay, i know this isn't the point of any of this, but how many generations will itake for kennedys to stop being attractive?! those are the strongest handsome genes i've ever seen! forget "jurassic park." everyone stay in the jeeps. park it'll be fine. then we heard from some former presidents jimmy carter and bill clinton, seen here finding out ghislaine maxwell was just arrested. and the former president let >> at a time like this, the oval office should be a command center. instead, it is a storm center >> stephen: all right, that's true. th's a good point. but i don't think bill clinton gets to lecture anyone on what should happen in the oo. now, bubba took trump to task for his twitter h

stephens: according to the commerce secretary wilbur ross, this is designed to slow -- close down somethe loopholes that they claim huawei was trying to exploit following the previous restrictions on huawei that were announced back in may. now, what the market is seeing is that huawei potentially could run out of its stockpiles of certain self designed tips, essential to telecom equipment, by early next year, 2021. keep in mind, this initial u.s. ban back in may forbade foundries, including in taiwan, from making the chips that were designed for huawei using american equipment. 38s new restriction adds huawei affiliates and 21 countries to this economic blacklist. as the u.s. tries to limit adoption of huawei's 5g technology in various markets around the world. nutshell,t curb, in a cutting access to commercially available chips to huawei. yes, another indication that relations between china and the united states are straining. shery: yeah, it is not only about huawei. there are so many different firms, including other chinese companies that are feeling the pressure. now we are hearing

but right now wilbur ross says there is no formal action steps on alibaba. haidi: stephenle with us, thank you so much. for more analysis on the proper we will haved, more on the next hour. and acquisition companies have been one of the hottest asset classes this year. their profile has been boosted, including draft gains, -- their chairman and former dell executive told bloomberg exclusively of the revenge of the retail investor. avoidare trying to hits-driven businesses. parts of mobile gaming is like the movie studio business. we are going after manifestations of great rick and mortar businesses that will be transitioning, especially here in the pandemic. gone i mentioned, you have public this week. you have done another one. seems like it is being talked about every day. is it frothy in this backspace? harry: if you call it frothy, the activity is clearly there because of the zero interest rate environment, all the uncertainty. if you think about it, i would call it the revenge of the retail investor, because when i look at our recent example with rush street, it is a

stephen: this is the second iound of restrictions on huawe issued by the commerce department, wilbur rossole that affiliates toing get around u.s. restrictions and now they are adding to the economic lack list the eight affiliates of huawei and requiring those that make any business deals with huawei to have a license to use u.s. equipment if they do business with huawei. beijing says this is nothing short of bullying, the ministry of foreign affairs yesterday saying the u.s. has been abusing state power in the name of national security. they went on. they set the u.s. is an empire of hackers and these moves on backfire, according to the ministry in beijing. shery: thank you. says u.s.ins relations with china could take a different turn under a biting administration. we were also told the rift between the u.s. and china is creating an opening for russia >> -- four russia. russia. >> it has become a much closer relationship in recent years. we remember fears over the u.s.-china russia relationship forged on valentine's day in 1915 and lasted until the 1960's and was a major feature of the

stephen: what we do know is that the commerce department added to the restrictions that were initially announced to close loopholes, that is how the commerce secretary wilbur rossed it. that has been affecting those manufacturers and those chipmakers in taiwan, like mediatech that had continued to do business with huawei, despite the ban. already made an announcement about it would stop making chips for the telecommunications department of huawei, and other companies. from thetest ban commerce department was adding to the economic blacklist some 30 huawei affiliate in 31 countries. this,is not happy about the ministry of foreign affairs said this is nothing short of bullying from the united states. they went on to say the u.s. has been abusing their state power in the name of international security, and went further to say that the u.s. is an empire of hackers, and that this move against wally would backfire -- backfire.awei would haslinda: all right, our chief north asia correspondent, stephen engle. still coming up, shares of wisetech global are seeing a spike in sydney. we speak to the ceo, richard white, later on. this is bloomberg. ♪ a look, wisetech share

view of politics good to see on what you make of the chancellor stephen dunn bill ross i think it was a strong statement on belarus bryan and at the same time it was a plea for restraint to repeat what the chancellor has said she said 70 of.