white house in the east room. with 400 of his closest friends. thanks to mary a parker. emily wilkins is covering the biden campaign. emily: the vice president began his day in delaware. he visited the grave of his son beau biden. he said his son s passing was part of the reason he decided to launch this third for president. he visited scranton pennsylvania and is now just leaving philadelphia. we are expecting him on the stage in wilmington, delaware. we do not know whether we will be able to have a presidential announcement at that point, but we are expecting joe biden to address the nation. david: emily wilkins will be with us throughout the evening as well as she covers the vice president s campaign. the markets have been watching the election closely. we turned to abigail doolittle for what they are telling us today. what are they saying. abigail: we have investors interested in stocks. a very big rally on our hands. the s&p 500 up 2%, its best day since june. investors
the only stocks that are doing well right now, some of the reopening trades and some of the big laggers for the year like cruises and airlines and some retailers still in the green energy stocks also outperforming. is this the start of a serious correction or a buy the dip opportunity we re diving into that debate. 59 minutes left of trade 59 minutes of of this roller coaster session. lots of guests as well the market pulls back. we ll speak with three ceos that got insight into the state of the consumer, their spending and recovery in america. the ceo of campbell s soup will join us on the back of had his company s earnings results that stock down 7% right now plus, we ll get two reeds on the beaten down travel sector with glenn fogel and mark hopelinger. we ll speak with nick clegg about the new policies surrounding the election looking forward to that one. let s get straight to our top story of the day the market selloff mike santelli has more on the major market pull ba
weekend. our roadmap begins with the record setting week. what are the risks to the rally? plus tesla on a tear, set to open at record high after topping $2,000 for the first time. and democrats demanding answers, the embattled postmaster general testifying this hour amid a political furor surrounding policy changes ahead of the november election guys, it s going to be an interesting morning to sort of take stock of where we ve been over the past couple of days the s&p all time high, apple $2 trillion, scott, tesla 2 k even though b of a this morning says that weekly outflows look like they may be the biggest in about 15 weeks despite some of these new highs. maybe this is the week, carl, where technology said, do you know what, wait a minute, not to fast, growth, not to fast, value. ever been has been coming out of the woodwork trying to make these calls that there is going to be this great rotation, carl, from growth into value stocks and these cyclical and epicente
liz: i do think spreads are important to watch. we always know there s a tight connection between the credit markets and the equity market. especially high yield vs. equity and i agree that when spreads got as compressed as they did, there was probably not sufficient compensation for those hotelers for the likely risk. we re seeing in it bankruptcies, which have spiked back up. they had a spike in may, leveled off and they re picking back up back to 2009 levels and i do any what happens with spreads and more broadly in the credit markets, as it did in the march time frame will inform what happens in the equity market. equity investors need to have a particularly close eye on the credit markets right now. we re seeing about a 50% uptick in terms of your average trading for the nasdaq. and what are you expecting for next week? as renee was telling us earlier, we re heading towards a shortened week. early data on the labor market only thursday because of the ourth of july holi
good tuesday morning welcome to squawk alley. i m jon fortt with morgan brennan and sara eisen carl s got the morning off the art of the deal. stocks up for a second day on renewed optimism for u.s./china trade talks. at the g-7 meeting in france, president trump told reporters that china will come to the negotiating table, whether it likes it or not. i m not sure they have a choice and i don t say that as a threat i don t think they have a choice in the meantime, the united states, which has never collected ten cents from china, will, in a fairly short period of time, be over $100 billion in tariffs. so, i think they want to make a deal, very badly those tariffs, of course, not coming directly from china joining us now, scott clemens, brown brothers, harryman, ceo of private wealth management. also with us, mark mahaney, managing director and lead internet analyst guys, good morning good morning. scott, you re optimistic about a trade deal and about the economy in