Fliers grounded. A risk few are talking about but we are the ticking time bomb amid many bank Balance Sheets. You are watching Worldwide Exchange on cnbc. Good morning, good afternoon, good evening wherever you may be watching what already feels like the fifth day of the week. After yesterdays wild market ride stocks, they open way down stock futures down 1,000 points. Then the market swung more than 700 points as the Federal Reserve says it is ready to buy Corporate Bonds. Basically a direct bail out struggling with individual debt issues right now, stock futures are powering up 500 points not just stimulus for the fed. Reports the Trump Administration is creating a plan for roads and bridges but some funds will be reserved for 5g and rural broadband. Infrastructure has been talked about about three years with nothing passed yet lets wait and see what happens. Treasury yields are surging on that news continued at a whoping 0. 74 . Up from a couple of days ago a huge reversal around the world. Japan, look at that, surging nearly 5 in one of its best days in a long time green all around youve got china up. Markets surging as well. Germany, uk, france, all up. With optimism helping stocks right now, lets not forget the first wave of the virus. It is not gone and still growing in many parts of the country good morning thats right. It is growing in our country and other parts of the world china is reporting 40 new cases with 27 of those in beijing as the new cluster continues to grow there were 32 locally transmitted cases and eight imported cases beijing had no new reported cases for almost two months. In washington, larry kudlow is playing down the risk surrounding the up tick of hospitalizations in states like texas, arkansas and missouri saying the trend is, quote, not worry some with regards to the black lives matter movement, he says he finds it hard to understand the concept of 20th century systemic racism we have seen tremendous growth in my lifetime. I believe more is about to come. Thats why i do not believe in whatever it may mean systemic racism we are about progress. Americans learn from history move on and progress from that this crisis now, whether policing and other matters related to policing, we can change this and improve and indeed with will turning to u. S. Airline industry, passengers who refuse to wear face coverings during flights could have flight privileges revoked alaska, american, delta, united and jet blue for passengers who are unwilling to comply could be put on the do not fly list back to you. Thank you, buddy. Elsewhere, fed chair jay powell begins two days of testimony today addressing the economy and fed policy he will speak to the Senate BankingCommittee Beginning at 10 00 a. M. Eastern coming a day after the fed announced it will start buying individual corporate funds for the first time ever. Easing conditions and stocks loved it rallied back 800plus points. Ceo of commerce street capital. Welcome dorey. How long have you and i been talking . A good while. Did you ever wake up aand think there would be a day the fed would step in and buy individual Corporate Bank rates . No. I didnt and even more shocking is the response to the fed it is like any time i get bad news, i expect the fed to bail me out and what should be at least a measured response and that the bond takes off in a rally. I like good news is that really good news that the fed is buying anything and everything in the market dare we call it hopium where we talk about this optimism powering the market. Believe it or not, complaining about the market then and the numbers are much smaller let me ask you this. Does debt matter in i more on any level . It was a question we had the other day throwing the numbers around i remember in the Reagan Administration a trillion dollar not deficit was debt was reached and we thought whoa is us and now the deficit is in the trillions. At some point, there has to be a reckoning. Debt should matter unfortunately it doesnt in that environment, do we just hold our nose listen, there is going to be a day down the road where there is going to be a debt reckoning maybe next month or down the road but it will happen. Does that prevent our view and clients from holding their nose whether they hate it and buying our equities you have to look at the political incompetence around the world. At some point, politics does tart to mess with the market right now, the dollar is the world currency and when shaken, where does the w0rorld then turn to at that point, then i think you have a reckoning on the dollar we are a long ways now weve had a tough with the virus and the unfortunate political unrest and rioting going on. Im hoping a lot of this stuff will work itself out over the next 6 to 9 months with the election and if we can get past that, we see a much brighter day for the u. S. My gosh, with Everything Else going on, its easy to forget we have an election what we saw is the market did nothing ahead of 15 months of that election. We are closer than that now. Do you expect the markets will freeze up like in 2016 ormaybe get more volatile as we get close tore november . I do. Im surprised the market would be this optimistic given the market would be coming up. The market has baked in a little bit the difference with the polls and the market is expecting a Trump Victory and wouldnt be so optimistic. It isnt that the market is biased as to the one policy or another. The market doesnt like change in midstream i think the markets have baked in a Trump Victory and the more the polls either prove themselves toward a biden upset, then i think you can see unrest in the market. The stock market has been extremely unpredictable as of late with trading and manipulation goes on the bond market has not given us a great read next time, well ask you about that manipulation there. Have a great day thank you. You bet big a block and we are just getting started. More to do a troubling trend that is anything but new when p it comes to institutional investing and minorityowned funds well break down that important sto story. New tensions between north and south korea bubbling over. And well speak to one firm that certifies their efforts around diversity and the hard but important question they should be asking themselves and their stake holders. And spray mopping. To lock away debris and absorb wet messes. All in one disposable pad. For a complete clean, vacuum, spray mop, and toss, in one click. The shark vacmop, a complete clean all in one pad. drum beats whats gonna happen next in the market, can i get rich quick . , companies are saying. We dont know how we are going to be doing in the next couple of months. Were withdrawing our financial guidance. So, there seems to be a massive disconnect between whats going on in Corporate America and what investors are believing is going on in Corporate America. The message to you dont trade because you think youre gonna get rich quick. Because you think. Dont trade because you think youre gonna get rich quick. Bbut what if you couldg do better than that . Like adapt. Discover. Deliver, in new ways, to new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back, but bounce forward. And now, with one of our best offers ever, were committed to helping you do just that. Get a powerful and reliable internet and voice solution for only 29. 95 a month for three months. Call or go online today. Welcome back and good tuesday morning. Look at dow futures. There on their way back. Up 441 points right now. Lets continue to critically Important National conversation around race, diversity and equality focusing on the continued path toward Economic Prosperity for all. A new study out, showing that leaning towards white majority investors and how it leads them. Not just a racism issue but a fid usury duty as well thinking that funds may be missing out on returns by undervaluing highperforming Fund Managers. That was found in a study through a study and a firm called illumin capital asking them to evaluate on returns and investors at the highest levels, they tended to give black managers lower performance rating than white of similar quality. Among the weaker teams, the allocators were prone to favor black managers in a real world, it is unlikely they would invest. In addition to racial disperities in the pipeline for Fund Managers there exists systemic Racial Disparities of how they value wait funds and allocate money conducting the awareness of biases key in these groups of people are system matticly locked out because of the race specifically which is part of what we proved in our research. Unless there is a proactive strategy that is Market Driven in based to protect the highest performing managers in these communities, then nothing will change currently of the 69 trillion across the world, just over 1 is managed by women and people of color 1. 3 of 69 trillion. That small that includes women, which represents half the population africanamericans, hispanics these are large groups of people representing 1 of the Asset Management industry. There is a ton of work still to be done it is an important conversation. Huge gap. Coming up, we have the cofounder that will help companies be smarter and better on these issues. Thank you for an important story this morning still on deck, a crisis in the making maybe. What could be the ticking time bomb on many banks Balance Sheets a story few are talking about but we are and it is ahead announcer todays big number, 519 billion thats how much commerce apples app store facilitated in 2019 including sales of physical goods and well as in app advertising. You should be mad they gave this guy a promotion. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. Okay, give it a try. Between wisdom and curiosity, theres a bridge. Between ideas and inspiration, trauma and treatment. Gained a couple of more pounds. Thats good for the babies. Between the moments that make us who we are, and keeping them safe, private and secure, theres webex. Beautiful. Gas, homes and no gas. Lets look at important stock stories right now. Chesapeake will reportedly file for bankruptcy as soon as this week finishing negotiations on 900 million debtor in possession loan the looming filing is at noon and we have been reporting on it since midmay. The company has more than 9 billion in debt. Today, lennar shares trading higher offering an improving outlook and continuing this month. Dont miss lennar ceo coming up. Tesla striking a deal to buy cobalt from glen core supplying the new shanghai giga factory and the proposed facility in berlin i think musk would say lol . That is stock news a happening outside the world of business Frances Rivera is in new york with that. Good morning today President Trump is expected to unveil his executive order on Police Reform in the wake of killings of george floyd in minneapolis and Rayshard Brooks in atlanta. He will ask to create a database to track officers. North korea has blown up an interkorean liaison office. Showing the explosion and smoke rising from the complex. The building was opened in 2018 to improve communications between the two. As the nfl moves to start the season, word several players from the Dallas Cowboys and texans have tested positive. And ee zekal elliott is one name who has tested positive. Better now than in the regular season yeah, i know zeke elliott apparently not happy his diagnosis was revealed saying wait a minute, where are the health rules and laws . Still ahead, an unlikely winner amid the coronavirus and lockdown who is that company . Well tell you the name. Otherwise, it wouldnt be a mystery check. That is the mystery in mystery chart. Well ve trealhat name stock futures are up 450 back after this. bling see, incident resolved. How did you. Gotta enjoy the small wins. You keep being you, derek. Keep being you. Can i find an Investment Firm with a truly longterm view thats been through multiple market cycles for over 85 years . With capital group, i can. Talk to your financial professional or consultant for investment risks and information. Talk to your financial professional or consultant bbut what if you couldg do better than that . Like adapt. Discover. Deliver, in new ways, to new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back, but bounce forward. And now, with one of our best offers ever, were committed to helping you do just that. Get a powerful and reliable internet and voice solution for only 29. 95 a month for three months. Call or go online today. Building bridges and set to buy. We are up 471. From wall street all about that stimulus first, fed chair and maybe the white house. Why the American Banking system could be on the cusp of calamity feds may not be able to bail you out this time. Thursday, june 16. Tht Worldwide Exchange here on cnbc welcome and good tuesday morning. We are kicking off this half hour surging with a hugely different story coming off the monday wild market hour. You remember whack to jed stocks slid way down. It is ready to do something they have never done before basically a direct bail out of many Different Companies already dipping their toes and their money. Stimulus from the fed also reports this morning of the Trump Administration trying to draw up some sort of infrastructure plan with roads and bridges. Those funds would be reserved for the 5g infrastructure if thats the case as well as rural broadband. Remember infrastructure week and then infrastructure week it has been talked about three years now with nothing passing fed stimulus possible plan has dow futures up nearly 500 points treasury futures are up roughly 0. 74 . Thats higher than they were around the world now, youve got green across the screen. Julianna tatelbaum with our indicator of a couple of weeks ago with your 6 mocha latte paid off what are the top stories overseas good morning. There are many brits getting back to the coffee shops no doubt about that. But beyond the return and the reopening here in the uk, the bigger focus is no doubt on the Federal Reserve announcement around buying the Corporate Bonds and around the potential corporate bill putting it all together, we are seeing a very Strong Demand in material stock clearly a link to the infrastructure report. We are also seeing a Strong Demand for travel and leisure and banks where money is being put back to work oil is also in focus we are seeing Oil Prices Edge higher this comes despite warning from the agency that the crude demand wont fully recover until 2022 that is something weve been watching back to you. A couple of years all i say is be careful of long projections. They can be wrong. Take care. Coming up, we continue the important conversation around race, diversity and business and mpeak with the founder of a coany that learned to ask the right and very difficult question the covid19 pandemic is creating Food Insecurity on a scale not seen in decades. 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The shark vacmop, a complete clean all in one pad. Welcome back the sun rising over washington, d. C. Where fed chair is expected to discuss the impact of the federal impact and respond to the pandemic and specific focus on minority owned businesses we have more on this important topic, by the way, also from washington, d. C. Good morning i think lawmakers are really going to push powell to focus on the minorityowned businesses and the lack of funding to minority businesses despite how theyve been hit the number of blackowned businesses dropped by 41 . It went from just over a million in fed to 648,000 midapril. Other minority groups saw steep declines latino owned businesses down 31 . Asian businesses down 26 . Warning there could belongterm consequences as well these businesses are so important in creating jobs, particularly for other minorities and help communities of color create wealth republican senator rubio wants to address these in the next round of federal aid senator cardin said that should start now requiring agencies to priorities under served communities right away 10 billion has been set aside but you can expect towel to look to more to be done a lot of talk but is there hope for action . That depends on if we do see another round