Movers today small caps again today as they were all week. Transportation stocks Like Airlines as they have been all week bank stocks, industrial stock, energy stocks. All the market leaders this week as well as today whats lower today the peleton, zoom. Slack is down big today. Thats down about 13 . Big cap cyclical stocks. It was all about the reopening story. Stock of the week, boeing, thats not a typo. Up 43 jpmorgan a lot of bank stocks up double digits caterpillar is up double digits overall. Perfect for the reopening story. Remember the three buckets. The big problem we have got, stocks are pricey. We need to see earnings estimates start going up thats what were not seeing so far. Thats wa hat we hope to see in the next month or two. Now to the bond market where the tenyear is surging back to gas. Rick is tracking the action this afternoon. Rick its amazing. 92 basis points. Were up ten basis points on today. Were up close to 30 on the week as you see on the intraday chart. If you go to march, right around midmarch. You can see the last time were at this 170 mark. Finally, tens minus twos wonder why banks financials have been doing well, the yield curve is the steepest since february of 2018 at 707 basis points because twos were only up five melissa lee, back do you rick, thank you millions of jobs added in the month of may mostly coming from the hospitality and leisure sector lets bring in steve on the shocking jobs report steve. We broke records on the way down and breaking them on the way back up just much sooner than economists expected 2. 5 million jobs added which way was better than the eight million decline that was expected by the consensus. The Unemployment Rate declining to 13. 3 expected to be around 19 . It may be higher by as much as three points i dont think wall street will fixate on that thats a good thing. It meeans low wage workers can back into the work force looks like they were among first to come back we did not lose for people from the labor force. Thats a good sign for the future lets put it all in context. Nationally, we got back 11 of the 22 million jobs that were lost in march and april. Lets look by sector now Food Services and drinking establishments back 1. 3 million. Thats 23 of the losses le leisure and hospitality up im shaking my head at this construction number. 44 of the losses recouped retail and manufacturing recouping a big part of the losses what about the two views Goldman Sachs says todays report marks the beginning of the labor Market Recovery in our view and we expect it to fall further in june. Even though we look for the economy to recoup 60 of the jobs loss, the Unemployment Rate will still be around 8 to 10 and moreover we caution that risk to labor market are tilted to the down side another consequential story for the markets and economy. What does this mean for the future of additional economic assistance is it used as proof we dont need more . Or proof that perhaps we need more im wondering if theres anything about the data we should be skeptical of i dont want to be the rain cloud on a sunny day but should we believe all these numbers are in are they goosed in any way by ppp loans which are designed to incentivize payrolls to keep sallies intact absolutely. You should be skeptical of all of this data you should be skeptical of the estimates and data were looking at we never engaged in this kind of thing before, quoting bob dylan right there. We dont know what to look at, which data is forecasting it you had an affect of the ppp programs also you had an effect of the reopenings how do you get to 2. 5 million jobs and not lose 8 million. Must have been the firing stopped and in places that we werent looking at, i dont know if it was phoenix or tulsa or houston, they were hiring people back and calling them back its the only way it can happen. Yet, it was goosed by ppp but the idea of all this is a hand off. First you have the government help and then the economy comes back so it can stand on its own and you get rid of that government assistance. Thank you stocks are rallying across the board on the back of this big surprise in the jobs report. Are we getting ahead of ourselves . Here to discuss are former chief economist at pimco and ron great to have you both paul, ill start with you. Is the v pretty much a done deal yes, i do this was not your grandfathers recession or your fathers recession. This was a mandated recession because of the pandemic and the moment effectively that you can reopen the economy, you should see some pretty gargantuan numbers. Ive always thought it would be v off the bottom from the standpoint of rate of change the issue is when we get back to where we were, this is totally rational to me its like youre pushing a ball underneath the water and then you take your hand off and it will pop right back up now the big issue is how high does it go lets dig into that for a moment we want like 105 , 110 in the next few years do you think thats possible in. As the Rolling Stones say you dont get what you want but you do get what you need i think were getting a needed reopening of the economy and policy now will shift from triage, which is really what march and april was about to nurturing the recovery i think wall street is reacting rationally today a lot of the big populous states havent close to reopening. Should that continue to help the market beat expectations or do you think all of that is already priced in . When the densely populated states as they ropeopen has to a help when you have stocks, commodities and Interest Rates going up all at the same time, it would be foolish to argue with what that message is at the moment if the economy war to open more quickly than anticipated, including the highly densely populated area, its all to the good you think as were talking about a v shape rebound, talking about fed intervention would be ancient history. Were talking about how much more is Congress Going to do senator warner laid out a number of different programs that he thinks is necessary. Were talking about the fed starting the main Street Lending program that could be a 6 trillion program i think were very much getting a v off the bottom i think what the fed has done is say were at zero and were at zero until we get back to a very meaningful recapture of the lost ground and also inflation finally is above 2 . I think the fed will be incredibly nurturing working with treasury on the main street facility and all the action now is in congress were in a fiscal policy dominant world and i think state and locals will need to get done whether or not it can get done in the weeks ahead, i dont know the big issue in the weeks ahead is that the supplemental 600 bucks a week program ends at the end of july. Its a cliff i dont think that cliffs are really good idea at all. Theres going to have to be some type of political promise on extending the supplement three to six months or reduce it or extend it. Ron, in terms of stimulus, is there anything that could be done to fix the high and is the market priced for a scenario in which the Unemployment Rate remains stubbornly high, 8 , 10 range . It doesnt seem to be the Unemployment Rate would have been three Percentage Points higher than reported this morning. As steve said, we got 10 of the work force back that we lost as far as the monthly unemployment data go. Theres still, when you look at the job less claims through the month of may, thats 42 Million People who filed for claims. Were hardly out of the woods. I dont think the market is priced in for a set back i do think, some of these various programs that have allowallo ed Small Businesses to hold on to their employees will be necessary because were not at 100 capacity. Some of these Small Businesses will have 7 instead of 28 people in the restaurant or when you look at theme parks and move theaters, amc, it was reported earlier this week there were doubts it could be a growing concern. I dont think the market has price priced in any sort of setback. Theres a lot to get through its a very rapid bounce off the bottom when you look at the employment population ratio, that is still ten Percentage Points off where we were a few months ago impressive yes, market response, impressive the message is positive but theres still some way to go and i dont think the market is priced for anything but perfection Going Forward all right well leave it there gentlemen, thank you coming up, the reopening trade in full gear check out the Airline Stocks surging double digits and shares of American Airlines have doubled this week. Well have much more on those moves. Jobs are coming back as the u. S. Is dealing with zifcivil unrest across the country were talk with marc morial about the fall out and the path forward. First up is this exquisite bowl of french onion dip. Im going to start the bidding at 5. Thank you, sir. Looking for 6. 6 over there do i hear 7 . 7 in the front 7 going once. Going twice. Sold to the onion lover in the front row next up is lot number 17, a spinach and artichoke dip, beautifully set in a hollowedout loaf of sourdough bread. Dont get mad get e trade and get more than just trading investing. Banking. Guidance. Get e trade and get more than just trading hellbut you already itknew that. And ive got some tips to help you get through these challenging times. First, practice physical distancing. Im sorry, i did not see you there. Ive been doing it my whole life. Or there. Plus, there are lots of things you can do at home. Like, stay active with some sick dance moves. Be daring. And whip up a new dish. I love the combination of gummy bears and meat. You can do video calls for all of your important meetings. What . Sorry. Or just have some fun. Ok, not that much fun. Now, this does not come naturally to me. But, try to be kind to each other. This is a tough time for everyone. So thats it. Stay home. Stay healthy. And remember, were all in this together. What . But totally separate. You know what i mean. Yaaaaay Retail Stocks are rallying with the rest of the market. The etf that tracks a group is up more than 70 for march lows. Check out home depot and lululemon at highs theres more room to run in the Retail Sector even after the rebound we have seen thanks for having me on during the pandemic we have seen the stocks do well because people are at home if that was the case, the thesis for investing the stocks during the pandemic, what happens after wards. Doesnt socme of that premium g away or no its great question its what im getting from my clients now. Were seeing the number of these covid19 begin to abate. I think were coming out of this, i think it will be permanent changes to the way consumers behave we will be spending more time in our homes Going Forward. Lululemon is performing extraordinarily well i think now would be dressing more casually Going Forward. Thats an added benefit to what was smart to begin with. Way back when and aisle sure youll know exactly when flp was an argument that the athleisure trend may be over and theres only so many pair of work out pants one could have in their closet should we be concerned about that theres only so many 100 work out pants im going to have in my closet if i am sitting home all day. Not too worried about that. Getting more and more people to recognize the true value in the quality of that brand. Who is losing share to any of these names that ben fiefitting from this work from home trend its no secret, a lot of these whether retailers, other retailers which had sold more formal wear. I was looking at your website before this segment and talking about Brooks Brothers filing for bankruptcy as funny as that sound or odd, i think they are seeing share to lulu lemon now they have a fast growing mens business i think they are taking market share from under armour. You hear from men and kelly, i know you hear this around the office about men wearing lululemon pants to the office because they look like real pants. For womens side they have leggings wouldnt you want a pair like pants but feel like yoga could that be in the opening here makes sense to me if theres a trend to drive out, lu lululemon will figure out. Ive bp waeen waiting years, years. Still waiting the stock says you dont have to worry about it. Doing just fine. Coming up, the dow is up 27,000 today its on track for its best week in two months. Industry and industrials are leading the way with all 11 sectors in the yegreen. Were going to have more in all ter hese big market moves right afthis stay with us on power lunch. Machin. Welcome back the airlines are taking off again today after a massive rebound for the group this week. Check out these moves. American is up 81 united up 56 . Jet blue up 40 . Same for delta and southwest. Thats the etf that represents a lot of these airlines you have a pretty clear down trend reversal off of those february highs you made a very nice looking base and at this point in time the stock looks like its poised to go back and retest. It should be around 25. Still nice upside from here. The relative strength is improving really providing confirmation here. I think the bottom line is as w get more confirmation there can be a vaccine and more evidence thats coming, these airlines are going to further take off from my perspective. Jets can keep flying. What about you and the fundamental basis for this is it possible that everybodys hopes about this reopening are over done . Kelly, when it comes to the airline industry, i would caution investors are being too bullish on this. We believe airlines have a flawed business model. There are three issues one, airlines run a lot of debt. They have too much debt on their balance sheet. Two, cashflow volatility is incredibly high and three, they have high embedded infrastructure costs we would advise investors to look at other industrials. For example, in the Aerospace Industry you could look at General Dynamics or Raytheon Technologies both of these companies are consistently growing, consistently profitable and they dont have a lot of debt on their balance sheet. Those we believe you can own for three or four years. You would bet on the rebound. Those are some other plays in the sector thanks so much fp follow along on twitter at trading nation stocks soars today as the markets celebrate two and a half million jobs added in month of may. Thats after 20 million jobs were lost in april and unemployment is still 13. 3 . Were still seeing protests in street every night what should this american recovery look like dont go anywhere. Stock slices. For as little as 5, now anyone can own companies in the s p 500, even if their shares cost more. At 5 a slice, you could own Ten Companies for 50 instead of paying thousands. All Commission Free online. Schwab stock slices an easy way to start investing or to give the gift of stock ownership. Schwab. Own your tomorrow. Schwab. You dont get to act just cause dad died. , are you gonna get a job . I wanna become a tattoo artist. Scott did this. Is that a cocker spaniel . Thats my daughter. Oh. Your work is mad inconsistent. You got obama wrong. Welcome back, everybody. Here is your cnbc news update at this hour. Joe biden sharply criticizing President Trump for suggesting george floyd is looking down from heaven and touting the latest unemployment number the democratic president ial candidate says putting any words in floyds mouth is quote, despicab despicable rebuking the mayors demand for firing four police officers. Its been ruled a homicide he reportedly told police, i cant breathe. Another 25 crew members have tested positive for the coronavirus aboard two american seafood factory crawlers the ncaa is suspending Oklahoma StateCollege Basketball program for one year due to violations uncovered during an fbi investigation. The violations involve bribery charges against a former assistant coach. The team will remain on probation for three years. Youre up to date. Thats the news update back to you. We have the dow up 1,000 points. More than 3 here. The nasdaq almost notched an intraday record high take a look at the small caps. The russell 2000 is a symbol of the reopening trade and its up 5 at this moment. Kelly. The oil market is closing for the day. World benchmark, Brent Crude Oil 42. 20 thats surprisingly positive jobs data injecting more optimism into the Energy Markets as traders look toward a stronger than expected trajectory for the economic recovery add more fuel, comments from russia industry. Ermier today the bakers hues rig count showed a continued drop to historic lows. U. S. Oil rigs fell by 16 energy the best performing sector today thanks very much stocks are surging overall thanks to the surprising job growth in the month of may the comeback rally continuing in spite of a week of protests over rational inequality. A number of cities are still under curfew to clamp down on looting and violence. I dont think the statistics have depletely captured the impact that the economic coma that the country was placed into respond to covid i dont think the numbers are completely been factored into the statistic by the department of labor number two, its important for people to keep in mind that two trillion in stimulus was pumped into this economy. That points to the fact for in order for the recovery to continue, theres going to need to be continued stimulus states and cities are bleeding states and cities tax revenue is down the bill pending in the senate is the only way to e vert, wa would end up being hundreds of thousands, maybe millions of layoffs at the state and local governmental level i wouldnt read too much into these numbers. They beat predictions and expectations, but its sitting on top of a necessary governmental injection of cash into the American Economy to try to stabilize things so we can turn the corner. Lets talk about what happened across the country this week we heard from a number of Business Leaders here on cnbc who are trying to do their part and trying to increase the diversity across their companies and the funding into communities of color and so forth. Is that enough we have seen protests, problems like this time and again over the years. Are you hearing anything this week that makes you think this time will be different ive heard a few Business Leaders talk about what does it take for the change to be sustainable. I do think the protests we see are very different these protests are widespread. Theyre not only in the united states, theyre all over the world. They are being undertaken by people who are black, white, hispanic and asian while the trigger and concern is about Racial Justice in institutional racism in america, we must make this a moment of transformation we cannot allow this to slip away from us and hear what people are saying. Understand what people are saying they want reform when it comes to the economy, policing, criminal justice and a number of other areas. I feel that this can be different but for Corporate Leaders, who are many instances have begun to step up, thaifr got to make their commitment to diversity and inclusion sustainable and a high priority. It cant be a Crisis Management response its got to be a sustainable response weve got to hear people we have to hear the pain out rage and sensibilities that enough is enough we have been talking a lot about what the future will be of a lot of the cities where the middle class, black and white can believe and might do so after the coronavirus, after the protest if they feel like theres a better alternative in the suburbs. What does that mean for the populations and communities that will be left behiebnd in. I think many people in cities are committed to the cities. We need national policy. We need a stronger commitment to i invest in urban communities and rebuild homeownership. I dont know if the impact of this is for people to flee where will they flee the challenges of the cities are now the challenges of the suburbs. There are pockets of poverty in Rural America and suburban america. You cant run and you cant hide youve got to con front these challenges head on we need Business Leadership. We need courageous Business Leadership i understand the business round table plans to take a number of steps. We want to encourage that and make sure they understand that this is got to be a sustainable job. On the public side, congress will have to do more the fed will need to do more this is a moment in american history. This combines 1918 when we had a pandemic 1929 when we had a down European Union the economy in the beginning of the Great Depression along with 1968 when we had a year of racial awareness about Racial Justice and uprising and out rage in americas community. We are at a moment we have to understand the opportunity within this incredible crisis we make. Its been inspiring to hear various leaders speak out about racial inequality across america. They have been writing a lot of checks im wondering if you think this is a problem money helps but should there will much more than just writing the check to whatever cause Corporate Leaders can be doing things within their own doors that involve some steps beyond putting a blackboard member in place. Youre absolutely right its got to go beyond. Money makes a difference one of the issues of the economy and money and the unequal distribution of philanthropic dollars. Money makes a difference i think every corporate leader should be introspective. Is your workplace diverse . If you want policies or procedures by recruiting and promoting. Look at the boards of america. Yes, there are about 300 or so companies of the 2200 publicly traded companies that have an africanamerican board women women serving on boards but Many Companies still remain a bastion of all white guys. Corporate america has to change itself to meet the changing america, the changing Consumer Base the rising generation which is much more diverse than ever before money is important, never dismiss that but more needs to be done. I would like to see Corporate Leaders, in addition to that, play a role to lend their voice, send a message to the nation that we need Police Reform at the congressional level and we need it in every city hall across the nation, every Police Headquarters across the nation how do you expect this to play out over the summer, in the years to come does it depends on policy steps you mentioned and to what extent is the high unploemployment rat causing a lot of the frustration were seeing play out . Theres no doubt the economic pain people face, the unemployment and the fact that the paycheck, the paycheck people earn, earnings and wages have not kept pace with inflation. A large number of people who are paid up to 50 of their take home pay for rent. The pain and the challenges that people face are unemployment plus and how it will play out remains to be seen what i think has to happen is meaningful steps towards reform. It can start with what we saw play out in a horrific way in minneapolis. That is when it comes to the police, when it comes to the use of force, when it comes to the culture which produces use of force and the long history of lack of accountability thats where the starting point is for a broader conversation. For those Corporate Leaders that have stepped up, im impressed with those steps we want it to be sustainable we want toyota be consistent we want those who may be standing on the side saying this doesnt affect me to understand, it concerns your employees, your employees are concerned about it the Customer Base you serve is concerned about it the communities where your headquarters and operations are are concerned about it you cannot put your head in a hole and act as though it doesnt affect you mayor, thanks for your time this afternoon thank you melissa lets take a look at every stock many the s p 500 now and you might notice that most of them are in the green at this moment were taking a look at two groups seeing the biggest gain is week. Tech and travel. Stay with us plap the covid19 pandemic is creating Food Insecurity on a scale not seen in decades. An estimated 54 million americans will struggle with hunger. With 200 food banks and 60,000 meal programs, feeding america is the largest hungerrelief organization in the country. Join Morgan Stanley in supporting feeding america and your local Community Food bank. Maybe itll give us a new perspective. Maybe well see things weve been missing. Maybe itll help us see just how connected we all are. And maybe. Just maybe, if we look at the big picture. Itll remind us just how amazing freedom really is. Try natures bounty sleep3, a unique trilayer supplement that calms you, helps you fall asleep faster and stay asleep longer great sleep comes naturally with sleep3. Only from natures bounty. Plap. Time for todays power movers oil stocks among the big gains broadcom is moving higher. That stock up 4. 5 we end with slack on pace for its biggest one day drop ever. Results are better than expected but the stock being victimized as the stay at home trade seems to unwind. Its down by 14 kelly. Hoping for a reopening a major factor in todays rally. Universal orlando theme park opening today for the first time in more than two months. Well get a check next on power lunch. Welcome back to power lunch. Were tracking a huge rally in stocks the Airlines Continue to soar. American has doubled this week its up 13 today. The cruise lines are soaring they are still way off highs but a big rebound for all of the major names in that space and the travel stocks. Booking holdings, expedia and priceline all higher today julia is watching the reopening of universal Orlando Universal orlando opening its doors to the public today. Take a look at a live shot inside the park right now. The park is operating with limited capacity and new additional disinfecting procedures select annual pass holers were able to attend on wednesday and thursday as the park opens to the public today its implementing a range of precautions in addition to limited capacity, universal is mandating temperature checks upon arrival, social distancing and mobile payments in the park with signage around the park as well as on the website. Universal is the first of the major theme parks to open in orlando with disney scheduled to start its phased reopening on july 11st. Theres still no indication of when Universal Studios hollywood or disney land will open here in southern california. That will depend on when the governor declares the state is entering phase three of its r e reopening plan it was worth noting generated about 5. 5 of comcast revenue in 201. That compares to disney parks that were more than a third of that companys revenue more is on the line for disney and the reopening of its parks comcast is the Parent Company of this network kelly. Disney is also going to have basketball they must be getting some kind of compensation. Its not exactly in disney world. Its really a different part of that business what they will be doing is theres been a lot of talk of the nba having it in that complex of the big theme park complex. Remember those orlando parks and the parks here in california are still shutdown what disney really needs is that revenue from ticket sales from s from spending within the park and the question of where e demand is when it starts its phased reopening in july thanks so much, julia a surprising jobs report in hopes of reopening the economy sending stocks soaring today the dow up 900 points and nasdaq hitting a r record high and on track for a recordlong csi high. Well have much more next on power lunch. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. You should be mad your neighbor always wants to hang out. And you should be mad your smart fridge is unnecessarily complicated. Make ice. Making ice. But youre not mad because you have e trade which isnt complicated. Their tools make trading quicker and simpler so you can take on the markets with confidence. Dont get mad get e trade and start trading Commission Free today. Nasdaq hitting an all time high since february. Some names leading the charge from the march lows are nvidia, paypal and apple for more, lets bring in the founding manager of luke ventures great to speak with you. It is undeniable, the zoom videos of the world and pelotons that have gained from this work from home trend pu what were seeing is this weird action where the stay at home trades as well as the reopening trades are rall willinging at the same time when you think about the businesses that have benefit te from the pandemic, how do you think about the sustainable bump in business . How sustainable it is post pandemic thats the right question what are the companies that have benefitted from a sustainable tail wind. We basically break it into two groups the first, clear advantage zoom, peloton, like you said, amazon, all those have had a bump and they will have sustainable benefits to their business long er term. No question about it there is the question about what you pay for those companies. I think that they are largely very appreciated by investors based on their multiple then a second group of businesses that will have a sustainable advantage that arent necessarily appreciate t by investors. I put apple into that group. Part of the reason that everything theyre doing longer term beyond this when we think about work from home, when we think about wellness and wearables. Apples going to participate in those segments other company, one i own like zillow, one that is impacting the future of real estate, thats the trick think b about what trends arent fully appreciated. Work from home is. But whats going to happen in the Real Estate Market over the next few years as people rethink where they live . Whether its from big cities to less populationed cities. Zillows going to be a beneficiary of that. Thats how we think about the winners. Theres losers there, too, but those are the winners, melissa and netflix and facebook are some of the losers why netflix . If somebody signs up, its monthly. Doesnt matter if they watch for fewer hours a month as long as they can collect the monthly subscription, no business is going to do well over the next few years. The streaming theme is powerful. I think the reason is that its about the incremental ad as, growth recall in the march quarter, netflix was expected to give guidance for adding 7 million subs they did 15 million, almost 16 million in paid subs and credit the company for cautioning investors that that kind of bump is not sustainable when we think b about winners, yes, theres a sten bable tail wind to the broader streaming market but whats happened with stay at home is not sustainable. I think were seeing that with peoples behavior and that should have an impact. Even if people keep the service, theres going to be some this will turn off. As you see a deacceleration of what could be a rapid deacceleration in paid sub ads, i think that will weigh on netflixs multiple i wanted to ask you about amazon and the tweets elon musk sent out yesterday about breaking up amazon because its a monopoly could amazon be pulled into this sort of mor ras that social media platforms find themselves in on making judgments on content on their platform and could it increase the likelihood that it is the target of some sort of government investigation or effort to break it up on the content side, i think that is less likely. There are other pieces that the government is orbiting all these Big Tech Companies about break ups. You have over the previous months, articulated those and just to recap what the basic stress points, i dont think elons tweets about content is something that should be of concern for amazon investorsm t theres a belief they leverage their profitable aws business to fund the Retail Business which creates a difficult environment for smaller retailers. Theres been talk over the past year about breaking up amazon based on that. I think ultimately, this broader theme about breaking Big Tech Companies up is going to fall short. It will be a part from regulators still for years to come, but ultimately, one of the lessons that we have learned from the pandemic is how critically important these Tech Companies are. Thats just navigating the pandemic theres another layer thats a much more advanced layer about what these u. S. Based Tech Companies are doing and particularly about advancing and fortifying what is happening in the future of ai i am by far and alarmist, but i think its important that our Tech Companies stay strong to make sure that they have a Bright Future and around how theyre going to power and enable a robotic and an ai future always great to get your thoughts thank you. Thank you President Trump is making some comments and tariffs just now. Lets get to kayla for those details. The president is in maine visiting a factory that makes swabs for coronavirus tests, but speaking to an audience there, he talks about his support for lobsters produced in the state and talks of disdain about the tariffs they hit when exported to europe and china. He says that he has tasked Peter Navarro with identifying possible tariffs to levy in response to tariffs from those countries from the europe and chinese tariffs. He says specifically hes renewing his consideration on tariffs on automobiles produced in europe if europe does not drop its tariffs on american lobsters and says that he has asked navarro to identify additional chinese products to hit with tariffs in response to their tariffs on lobsters. Certainly, its a popular topic given where he is in the backdrop of todays visit but its unclear if he is spit balling or if theres a real policy process underway the renew this thanks so much. The markets the highs of the session but still a strong gain at the highs we were over 1,000 points. Still up about 839 on the dow. Whats interesting is the continue to watch stay at home trades be almost just as strong as the reopening trades. Got to think somethings got to give at some point if youre strong when things are bad and good, maybe youre just strong. Lets hope so lets end friday on a happy note meanwhile, well be looking for those lulu work pants. Have a great weekend you, too. Closing bell starts right now. Good afternoon welcome to the closing bell. A massive rally to close out the week after a very strong jobs report this morning. Took the market by surprise. With the recent rally, stocks irn inging bainching back to near record highs it was the fastest sell off in history in march and now its been a record selling climb back, an almost 50 jump higher in almost 50 days. The question now is where now. Well try to answer that question for you throughout the show on the economic front itself, that key jobs data this morning, wall street had been looki inino a decline of millions but sa