Second wave in the fall. And trouble at tyson foods as china bans its meat imports amid new outbreaks it is monday, june 22nd, you are watching cnbc. Good evening, welcome im Brian Sullivan heres hour you money in the Global Markets are setting up their day. The dow might open up points a mixed session on friday with the dow closing down 208 third down day in a row but what is new, a different story for big tech the nasdaq trying for a 7th straight winning session it is already up nearly 5 this month. Just 35 stoxx of the nasdaq 100 are lower this month and 12 names are up more than 10 the best performer that time, what else . Zoom were all doing the video calls up 35 investors, they continue and its higher again this morning around the world, mostly red arrows in asia overnight europe of course just getting things started karen is in our london newsroom with some of the early action and the early top stories. Karen, good morning. Good morning to you. We have covered a fair amount of territory so far you may be used to that on wall street but very atypical here take a look at the core markets and they have been on the back of this bounce back from coronavirus. Market activity concentrated around the dax and the French Market the u. K. Stock market was in the red a moment ago and gains that you can see for the stocks and also across the italy and spain. And reinforcing the gains of just over 3 that we saw last week in terms of what were seeing by individual sectors, every sector was trading in the red after a stock and you can see now that gains across an auto and that was trading negative and significant turn around to. 15 on the board. Thats right to the bottom of the european markets this morning. This has 1. 9 billion euros missing from its accounts. The latest is that the money may not have existed at all in the first place. So the plot thickens around this company. Theres a money trail that ended in the philippines with the central bank saying that the money didnt go into that country. So question marks remain invested to this point taking money off of the table its down 34 reinforcing it. A big story there. Investors waking up once again when it comes to covid19 cases in the u. K. And around the world. A one day increase for the number of positive cases 183,000 on sunday alone. They continue to see their own numbers rise back at cnbc hq with more. Leslie, good morning. Good morning, brian, thats right. The u. S. Reporting more than 30,000 new coronavirus cases on friday and saturday. Thats the highest daily total since may first as outbreaks continue to spread in the south and the western parts of the country. Seven states seeing a new one day record over the weekend including florida and South Carolina which each had their third day. We are filling the stock pile in anticipation of a possible problem in the fall. We are doing everything that we can beneath the surface, working as hard as we possibly can outside hoping imports from a tyson food chicken plant after hundreds of workers tested positive for coronavirus they ensure that all food is producing in compliance with Safety Standards watching shares of tyson this is the latest in a string of outbreaks at its plants. Separately, yesterday Chinese State media is reporting that a pepsico factory that manufactured lays potato chips is forced to close after 8 workers there are discovered to have contracted coronavirus, shares are slightly lower. All right lovely leslie, thank you. See you soon well, back to the markets now. The markets coming off of their fourth positive week in the past five the dow gained 1 for the week although its on a three day losing streak. The nasdaq, continues to be the outperformer up more than 3. 5 last week. Lets talk more about trends and what you need to watch joining us is the chief market strategists. Matt, listen, you heard the headlines leslie just gave us. None of us of course, full disclosure are epidemiologists we want to make that clear but heres the thing, the markets realize that its math if cases go up 2 a day then were always going to have a Record Number of cases i think thats what people i talk to when i say why are the markets going up and cases are going up they say because, you know, percentages dictate the numbers getting bigger is that why were seeing a disconnect between stocks and sort of the headlines or is it more just about the fed and the amount of money thats coming into the equity markets . Id say that its about the fed more than anything else. That doesnt mean to say that theyre, you know, major going on but we have the situation now where people are trying to figure out whats going to happen next. Can we rally back and take out the june highs in the s p up just above 3200 . Around 3232 . Or does it roll back over because of concerns over the coronavirus and the second wave. The head of it, centers for Disease Control talking about how every pandemic in history had a second wave so why would we have one now although he is saying that he is worried that its going to be a forest fire and well have one gateway either way, my point is that im going to let the market decide or tell me what is going to happen next because if it does move higher its going to be because of the feds liquidity and everything that im looking at in terms of Economic Data we are not going to get back how is the market able to ignore the medical headlines. And not whether or not theyre severe enough to cause a relock down like the apple stores that have been reshutdown on friday or saturday. Its going to depend on, again, Investor Confidence and on the issues that you talk about and were not going the get another mandated lock down its just too devastating to the economy. What is going to happen . Are individual Companies Going to lock down are people going to lock themselves down and social distance even more or stay at home more. The chances of that i think are growing. Again, heres my biggest concern right now. Everybody is saying that rate of change is good thats fine. But the market is still expensive. If were going to go higher its going to be solely on fed liquidity and that cant last forever. 21 times forward earnings are the markets overvalued no question you look at gap earnings and its over 34 times earnings. That doesnt mean that the market cant go higher over the near term. Valuations are a horrible timing tool and what is fuelling the market higher here is not the underlying economy so you cant just sit back and let your investment sit there like you did in 2019. Momentum rally for sure kicking us off on a monday morning. We love it matt, thank you very much best to you. Well talk to you soon thank you very much. Thank you. All right when we come back, well head live to beijing where business there is still trying to get back to normal and then well talk tech. Today a Big WorldwideDevelopers Conference provides another catalyst a major milestone for the nations biggest auto makers this week well tell you what that is. Dow futures up 73. Eawh wlddexcng busy hour still ahd enorwi ehae returns. It combines powerful vacuum suction 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 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. Welcome back and good morning. Beijing Health Officials reporting nine new coronavirus cases last night good news is its down from 22 a day earlier from the outbreak they had it appears to be slowing down a bit. This as businesses big and small continue to try to get back to work eunice is joining us live from beijing with more. Eunice. Thank you so much, well, im coming to you live from a factory here in beijing. Thats Live Streaming about its products to europe and the rest of the world theres been a lot of questions as to how Business Practices could change because of the pandemic and china is experimenting with a massive trade show but as one business man told me. It may not look like it but he is attending chinas largest trade show. Its all there. Every year for 17 years his beijing based business would head to the Southern City to sell mugs at the fair. At the expo, china based suppliers would make hundreds of thousands of overseas buyers but because of the pandemic travel restrictions decided to put the entire show online so instead of manning a physical staff and customers in created a makeshift studio to show off products at the 24 hour Live Streaming platform and the wifi and internet has to be there. One draw back is potential buyers cant do a pop in. At the fair you have people looking for a lot of Different Things and they stumble upon you but in the online version you cant really stumble upon you. You have to reach out to your customers. Even then, customers cant look and feel. The customer isnt able to hold the product in their hand so only have to explain every single detail. This is the Old Fashioned face to face meeting. It seemed like everything is going to change. Even though a lot of businesses feel that they have to because its become clear that some business still had to be done in person such as trying to figure out the quality of a product. Listen, in the digital age, human relationships matter more and not less we know that i notice that youre wearing a mask and whats the rule can you go to dinner without a mask on or are you doing it for your safety or because you have to im doing it for my safety. Partially because this was a new environment for me and we have still indoors. But also, the advice that the beijing officials just said just a couple of minutes ago is that now theyre advising that people wear masks once again. Theyre not mandating it but they are much more strict. The measures have ramped up over the weekend. And 2. 3 Million People they test 230,000 people a day and state media says that could potentially ramp up to 1 million a day. So its a little bit confusing because you know we hear about how china has now clamped down on imports from tyson because theyre worried about the coronavirus because the numbers are dropping by the nature of math numbers will always go up. By the way, what are they selling behind you is it a sparkley pillow. Im trying to figure out exactly what is going on behind you. They sell all sorts of products that are coated and print a photo on it. So the main product is mugs and then they have tumblrs and other products and they have a pillow case there and a picture of yourself. Unless the entire Worldwide Exchange production did not get coffee mugs with your mug on it soon eunice, we are going to be very disappointed. We want our eunice mugs and we demand them now. Smiling under that mask. Ill go operate a machine thank you, take care, all right. Still on deck, everybody desperate for a hair cut in new york and good news as of today, you can get one. What will customers say to americas top stylist will join us next. When you walk into an amazon fulfillment center, its like walking into the Chocolate Factory and you won a golden ticket. All of these are face masks. This looks like a bottle of vodka. But when we first got these, we were like whoa [laughing] my threeyearold, when we get a box delivered, screams mommys work mommys work. With this pandemic, safety is even more important to make sure we go home safe every single day. vo sat whether on the track,that exhor the everyday drive. Ty, today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. 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 jimmys gotten used to his whole yup, hes gone noseblind. Odors. He thinks it smells fine, but his mom smells this. Luckily for all your hardtowash fabrics. Theres febreze fabric refresher. Febreze doesnt just mask, it eliminates odors youve. Gone noseblind to. And try Febreze Unstopables for fabric. With up to twice the fresh scent power, youll want to try it. Again and again and maybe just one more time. Indulge in irresistible freshness. Febreze unstopables. Breathe happy. As you can see in the bottom of your screen, theyre higher by 74 points today its exactly flat. There is a lot of news happening this monday morning. Good morning. Good morning. Nascar said it has opened an investigation after a noose was found in the garage of nascar driver Bubba Wallace it happened yesterday at talladega super speedway in alabama. That news was first seen by a member of his team and reported to nascar that responded by saying that we are angry and outraged and cannot state strongly enough how seriously we take this heinous act. Wallace said in part this will not break me i will not give in nor will i back down i will continue to proudly stand for what i believe in meanwhile, tiktok users and kpop are claiming credit for the empty seats at president trumps rally in tulsa tens of thousands took part in a Viral Campaign to reserve tickets for the event. According to sources close to the white house mr. Trump is furious over the underwhelming crowd that his campaign blamed on the protestors outside of the event and not the Viral Campaign and finally the guitar kurt cobain played at the mtv unplugged session just sold for 6 million he purchased it at an auction for a little over 6 million bucks making it the worlds most expensive guitar included with the guitar is an original case and package of guitar string and guitar picks an iconic gi fuitar from an icoc performance and thats the price tag to match. Thank you very much. All right coming up, Apple Holding one of its most anticipated events of the year today virtually of course and Worldwide Exchange talks about the Worldwide Developers conference next 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. I geh. Common bird. E. Ooh look over here something much better. There it is. Peacock, included with xfinity x1. Remarkable. Fascinating. Very. It streams tons of your favorite shows and movies, plus the latest in sports news and. Huh run the newest streaming app has landed on xfinity x1. Now thats. Simple. Easy. Awesome. Xfinity x1 just got even better with peacock premium included at no additional cost. No strings attached. Just say peacock into your voice remote to start watching today. Futures are higher as investors continue to lump stock as big tech continues its big games. In South Carolina, florida, and states continue to show no signs of slowing as the white house is preparing for a bigger uptick in the fall are you ready for a hair cut in new york yes you are and it can happen and as of today the big apple ready for phase two of its reopening. Well tell you what you can do and what you still cant its monday june 22nd and this is Worldwide Exchange right here on cnbc. All right welcome or welcome back and good monday morning everybody im Brian Sullivan thank you for starting your week with us on cnbc. Stock futures are in the green right now. You can see dow futures are up 75 points. Major averages coming off a mixed session on friday. A very different story for the nasdaq and big tech. Nasdaq trying for a 7th straight winning session. Its already up 5 this month. Now cases of covid may be on the rise the good news, icu visits and hospitalizations seem to be trending down nationwide well see if that is over the next week or so. Dare we say random but interesting stocks in the morning and 19 and 46 stocks in that index and around the world overnight, the european markets in the red. Look at that, they turned around they were down by the way. Maybe following our futures up as well. Meantime, a developing story is at china a Tyson Foods Chicken plant in springdale, arkansas after hundreds of workers tested positive for coronavirus its working with the food safety and Inspection Service to ensure that all foods its producing is in compliance with Safety Standards this is just the latest in a string of outbreaks and from North Carolina to nebraska to iowa and tyson shares are down 1. 5 right now lets get back to the market what you might call a triple threat for investors today first off, apple kicking off its virtual worldwide annual Developers Conference today. New developers are expected. That stock trains at an all time high amazon getting ready to kick off its summer sale apparently nobody was shopping there during the pandemic and third the nasdaq going for a lucky seven. Lets start things off with apple and joins us now live from china. Good morning. Good morning, and what you expe