really crazy just like with apple and netflix in their early growth phases. that's what i would recommend. not so much virgin galactic. i don't think they have a huge total addressable market. charles: all right. you are the best, my friend. thank you very much. liz claman, the s&p was up 12 when the show began. it's up 23 as i hand it to you on an otherwise kind of quiet monday. liz: yeah. well, i don't think these numbers look quiet, charles. you've got some noise working them up here. the dow is making brand new moves to the upside during this session, just as you finished the show. we are up 178 points. apple moves into the 2020s with 1990s tech? yeah, a new iphone picture-in-picture. remember that? that option is just one of the innovations apple rolled out moments ago that allows users to access other apps without interrupting your latest binge watch or tik tok viewing. speaking of tik tok, mark

zuckerberg and jack dorsey probably waking up on the wrong side of the bed after a tik tok prank of presidential proportions that's stolen the social media spotlight. could tik tok be on the verge of cleaning facebook and twitter's clocks? we've got team coverage of all of this. fox business apple whisperer susan li tracking the hottest headlines from apple's conference. apple bull and market tech guru on whether tim cook did enough to snuff out a brewing rebellion in his developer ranks. and top social media analyst michael packter on the new power of the social media rising star tik tok. the debate over the second virus wave raging across the globe, but south korea decidedly saying it's already rearing its head again in that country. in a fox business exclusive, the man the world is turning to for a cure, dr. andrew badley. he's the mayo clinic's covid-19 vaccine and treatment search

party leader and he's here. final hour of fireworks possible as the nasdaq fires towards new record glory. we are there right now. the dow, s&p, also in the green. but the nasdaq now standing at 10,050. will it be a record close? you've got to stay with me. plus disney plus not throwing away its shot to stream "hamilton." why draftkings stock is seeing red and charlie breaks it. so glad you're with me on this monday. let's start "the claman countdown." liz: breaking news. apple's worldwide development conference just wrapped up and we are about to show you the updates that are getting the biggest chatter. give me a quick sec. gap stores can't pay the rent but at atleisure wear is totally awesome.

so says wells fargo which double upgraded the parent of athleta from overweight on its belief the yoga tops and utility joggers will line investors' pockets. wells also likes gap's undervalued real estate portfolio which totals around nearly $2 billion. look at the stock, a jump of 9.5% as we are in this final hour, because they also raised their price target from $8 to $19. stock right now is at $11.68. peloton pedaling to a new high after steeple hiked subscription based bike and treadmill company's price target on the stock to $62 from $55. we are at $53.36 right now. steeple says peloton's position has taken the lead in the connected fitness category. that stock right now up 4.8%. we should look at tyson's stock. it is on the move after china, to the down side 2.5%, announced that it is suspending imports of poultry products from a tyson

foods plant in springdale, arkansas due to workers who were infected by the novel coronavirus there. tyson says it is investigating but says it is in full compliance with government safety requirements. and just as new jersey announces casinos will reopen operations at 25% capacity, that starts july 2nd, jeffries initiating coverage of fantasy sports giant draftkings with a buy, saying the online gambling company's in the best spot to capitalize on the growth of digital sports wagers in the u.s. why are draftkings along with penn national gaming which confirmed its reopened 70% of its casino locations, why are they both down? we have draftkings down 5%, penn national gaming down 3%. well, profit taking is the logical answer, folks. year to date, draftkings is up 279% and penn national gaming is up 147% year to date. all right. now let me get to apple's

virtual worldwide developers conference, where only apple can reveal old school picture-in-picture and make it the coolest new iphone option. if you are watching a movie or let's just say a cleveland browns game, or a random video, you can now do other things while continuing to watch your program on your phone. picture-in-picture. remember surround sound from the '70s for movies like "earthquake"? apple's super-charging its new airpods pro to replicate that movie theater audio that feels like it's wrapping around your ears and there is the indication of it. but that can't be the only reason the stock is climbing a couple of percentage points. to susan li, who watched every second of the conference. susan, what is the tech the world is most chattering about at this hour? susan: well, apple pretty much confirmed, tim cook confirmed towards the end of the first all virtual worldwide developers conference that apple will be

making their own chips in the year 2021 max, that will ship. listen. >> now it's time for a huge leap forward for the mac, because today is the day we're announcing that the mac is transition i transitioning to our own apple silicate. susan: historic day as you heard tim cook there say. we do have the arm chip design going into the mac. was that the only announcement? no. we had a lot more. we should point out that it boots out intel, which has been supplying chips into the mac since 2005, then motorola was the original chip supplier powered pcs took over in the 1990s but there is so much more to unveil today, as you mentioned, picture-in-picture which i thought was pretty cool, also the widget organization so your home screen looks a little bit cleaner and easier to

organize, and the car key function, that's getting a lot of buzz right now. you have a virtual key which will start your car in the future. this will start with the bmw's 5 series next year. but also, you can allow other people to use your car key, sending them via i-message. how cool is that? also emojis with masks since we are in covid times. not just that. you have the new apple watch os7 and that comes with as expected a sleep tracker, something apple has been working on for quite awhile now. also a new fitness app on its own since we are in covid times, you need to work out. also airpods catching a lot of buzz and praise because it's surround sound in wearables and more privacy, since we know that is key these days. all in all, it was pretty jam-packed in an all virtual affair. it was done a little bit differently, not in front of the 7,000 that usually pack in cupertino. liz: who needs a purse anymore?

you don't need keys. you just need a phone. unbelievable. susan, thank you so much. right? this is crazy. let me get to the severitex who follow apple's stock and the ever-evolving technology. dan flax and jeremy owens. i want to get to jeremy first. jeremy, you are on the phone here. your number one favorite unveil today. on the phone: i like the new tv plus show. most of the stuff i saw from the new wave of ios and the other operating systems, they are taking popular features from other places and putting them in there. that's great but it's not ground-breaking in any way. they are still looking for that one show they can really base tv plus around. i think foundation might be it. looks like a really good show. it has i.p., intellectual property that people know. i think that's going to be the thing that consumers especially take away from it. liz: yeah. i love defending jacob.

oh, my goodness. i don't get that into scripted television. all right. dan flax, what was yours? let me tell you mine first. this to me, it was the hand washing with the apple watch. it will sense that you are washing your hands ain't will then time it which we have on the screen, little droplets of water. it's just amazing what they have come up with. tell me what you liked. >> so liz, i'm a big fan of the watch and so sleep was the first one followed by hand washing, because when i'm excited about, the new ground apple continues to break in new areas. we think back to the ecg app, emergency calling, fall detection, the hand washing as you note, obviously is critical, always has been but even more so in the world we now exist in,

and i think the company's ability to put hardware, software and services in private ways is incredibly powerful. liz: indeed. but you know what, jeremy, the app developers, these can be anybody out there, as long as they follow sort of the rules and the parameters that apple puts up there. little bit of mutiny there because apple, it appeared it was strong-arming an app called hey, a subscription consent-based e-mail service, and in the 11th hour, they started putting out tweets saying come on, this is just an update of one of our apps that's already been approved and finally, apple said okay, and you know, i just think you may have a little bit of an issue there if you've got a little bit of rage on behalf of the developers. on the phone: for sure. the thing is, it does not want to give 30% of its subscription

revenue to apple. they tried to find a work-around around it and of course, apple busted them for it eventually. that is the big thing a lot of these developers have, apple taking too much of the money they are getting from apple users, right? so late friday, they worked with hey to find a work-around but that work-around has not really been standardized for all other developers. i think other developers are waiting to hear right now, can we do this work-around, is there a way to do that, and they never really addressed that. in an in-person wwdc, some of these developers could go up to apple people and say what can i do but it's virtual, so you really need to be communicating that in a standard way and saying these are our rules and they're not able to do that right now, and some of this was probably taped last week before this blew up. we don't know how much they had a chance to really address that but it is something i thought needed to be addressed and i know developers thought needed to be addressed and it was not. they are going to have to wait

and see what happens in there. liz: well, jayson free, the ceo of bootcamp woihich owns hey, handled it very interestingly. he took it out to twitter. dan, give me a really big sort of view into how you are thinking about apple silicon. this could be truly the money maker. the new chips, they are turning fwhas their back on intel. tell me where you really see the revenue coming from in all of this. >> so it's a couple of things. i think it's instructive to look at the iphone and the ipad and the watch. apple's ability to design its own silicon and really pull all the pieces together allows it to control the roadmap. so it can bring new features and functionality at a cadence that makes sense to apple instead of having to rely on intel. i think the revenue implications are that the mac will become an even more powerful and differentiated system relative

to what else is out there. i think the second piece is that having this common architecture for the development community is important across apple's different platforms, because ultimately, and apple of course, you know, as we were talking about now, this dynamic with the developers, apple has to empower these developers. these developers need to flourish. i think the announcements around silicon will ultimately help many of them increasingly do just that. liz: right. well, gentlemen, intel's stock is not being hurt too much right now. apple's stock is jumping 2.5%. jeremy, i want to finish with this. 5g phones. i have got to ask you, will they be coming? you already have, we showed it from ces, samsung's foldable 5g phone sold out and i just, i just wonder, you know, with all these great new tricks that apple's got, you have to tell me when we are going to see that 5g phone and whether it will

eventually be foldable, because that samsung is already there. it's pretty darned cool. on the phone: well, 5g has bounced back in the wake of the covid pandemic. it seems like they shouldn't have any barriers to announcing a 5g iphone in september as everybody expects. we are going to have to wait to see if they actually do it, if they feel the technology is there yet. i would still expect to see that 5g iphone come out this september. liz: all right. well, lot of people are waiting on that. daniel flax, jeremy owens, thank you so much. we have a good rally on our hands that's rather strong. the nasdaq on track to close at an all-time record. but will it? stay tuned. "the claman countdown" is coming right back. we are talking tik tok and the new power of the social media startup. [ sigh ] not gonna happen.

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liz: federal reserve vice chairman richard clarida on friday exclusively telling "the claman countdown" the sky's the limit when it comes to the fed's commitment to save the u.s. economy post-covid. right now, the fed balance sheet stands at over $7 trillion. you know, i also asked him about when the fed might lower its 2% target inflation rate because there's very little inflation, to which he said let me make some news here. we are not even thinking about thinking about lowering the target rate. so what does this all mean for investors as rising virus cases keep the markets on their toes, but we still see the markets rising. he really put a nice big pillow under stocks with those comments. cheryl: he really did. obviously, the fed has been a big reason that the markets have stabilized, liz. let's take a look at the numbers right now. i think your point to charles payne was right on. this is not a quiet monday. this is a busy monday. you have the dow up 90 points, s&p up by 12, nasdaq up by 79. it's a little bit of a choppy session. we dropped about 200 plus points on the dow earlier during the

trading day, because we got some news on the economy. existing home sales plummeted in may as the coronavirus continued to hammer the overall economy, but realtors expect that's going to be the bottom. sales of existing homes in may fell 9.7% compared with april to an adjusted rate of 3.1 million new units. sales down 26.6% annually. that's the largest annual decline since '82 when interest rates were, believe it or not, about 18%. my parents paid that. i remember. it is also the slowest pace since october 2010 despite the fact the 30-year average is sitting at believe it or not 3.2% rate. that has nothing to do with the housing market. they are trying to recover. again, those comments were good to hear. many investors do see a clear road ahead for stocks, especially after fed vice chair clarida responded to your question about whether it's time

to actually scale back the stimulus. >> there's more that we can do. i think there's more that we will do. i think it's way premature to be talking about that. cheryl: so liz, again, to your point, that great conversation, interview you had on friday, he really is, you know, kind of backstopping the belief in the markets out there, market participants, that the fed will be there as long as it takes. they have proven that time and time again. liz: yeah. he was very clear on that. cheryl, thank you very much. maybe that's why we are continuing to see stocks move higher. earlier today, the dow was down about 203 points. we are up 90 now. with the closing bell ringing in 39 minutes, virgin galactic blasting off after the space giant inked a new deal with nasa focused on private space travel. in the new agreement, virgin galactic will develop a private orbital astronaut readiness program that will be aimed at increasing commercial use. regular people going to the

international space station for private space travelers as well as researchers here and there. from outer space to tik tok, bringing social media down to earth in a big way after targeting president trump's tulsa rally this weekend, should social media's other giants be worried their time in the spotlight is ticking down? the tik tok effect on "the claman countdown" next. some companies still have hr stuck between employees and their data.

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liz: it was supposed to be the president's first massive campaign rally since march, with a million tickets requested. instead, as you see here, president trump's gathering at the bok center in tulsa, oklahoma which normally holds 19,000 visitors was attended by just about 6,200 people. that according to tulsa city officials. now some of tik tok's 315

million global users claim they were the ultimate buzzkill behind the empty seats at the trump rally. after tik tokers said they intentionally sabotaged the event by registering en masse and not showing up. now can the chinese video sharing platform be coming for facebook next? we bring in michael pakter, wedbush security. first, what you have been able to analyze over the past 48 hours, was it tik tok that left so many seats empty in tulsa at the rally? >> i don't know that we can blame the million requests for the empty seats. i think it's entirely plausible that there were people who intended to go but had heard there would be 100,000 people showing up with 80,000 overflow and decided not to deal with the crowds. it was pretty well televised. we were watching it several hours before the event when that black lives matter protester was arrested and you could see that the area was largely empty.

i don't really buy that. i think that in fact, there probably were 800,000 goof requests but i think people probably just thought better of going into an enclosed area with a lot of people not wearing masks and worried about perhaps contracting the virus. remember, tulsa is a small place. it's not like there really were a million people within driving distance of tulsa that were going to show up. liz: well, you know, that's why it was a little perplexing but the trump group had said and really pushed it and said we are going to have so many people registered and where are we going to put all these people, they had the exterior sort of overflow area but it didn't come to pass. the fact is that tik tok has shown it can flex muscle. so i need to ask you who follows facebook, covers facebook, how worried would facebook, should facebook be? because tik tok is one of the

top five most downloaded apps globally that aren't owned by facebook. >> and growing at a ridiculous rate. you know, facebook has to be worried that any competing social platform has 300 million users, 30 million in the u.s., so it's pretty impressive. but at 30 million in the u.s., it's about half the size of twitter, it's a small fraction the size of facebook. i think they would love to be a monopoly. i think they acknowledge that they can do things better like video, like music. today they just announced they are picking up the mixer video game viewing platform from microsoft. there's a lot of different areas facebook needs to improve and they are making an effort. tik tok is going to exist. this prank, i think it was more of a prank than an activist move, does show you the power of the platform, shows you how viral a funny idea like let's

sabotage the rally can go and it happened pretty quickly. the thing i'm shocked about is that the campaign was unaware this was going on. liz: well, it's possibly the new world. we should just let people know, tik tok is not publicly traded. it's owned by a chinese company called byte dance. the new ceo just came from disney and that to me, he's a proven operator so expect big things from this company. would you buy the shares pre-ipo? there are ways to do that. >> kevin mayer is what pushed me over the edge. that guy is the real deal. he is what most people thought would be the successor to iger and so he could have had one of the best jobs in media and he left to take this. he is a sharp cookie. absolutely this company's going to grow and be worth a ton. i don't know what the pre-ipo

valuation is so i can't tell you if it's a good deal or not but at a price, of course, i would be very interested in the business. liz: gary vanerchuk had an opportunity to actually interview and he had said quote, for me, there is no better place to go to sell to gen z than tik tok right this second because the scale of attention at that age level is remarkable. he said he was fascinated by how people convince hundreds of millions who are using something and that to me immediately says uh-oh, just start advertising on tik tok, why waste your dollars on instagram at this point. >> well, they are the first generation that actually was born in the cell phone era so they grew up with a cell phone or iphone in their hands. he's right. he's one of the smartest guys out there, smartest tech investors out there. if you want to capture the audience, that's the place to be. they are not on facebook because

all their friends are within two miles of where they live. but facebook owns the olds like you and me. they own people over 30. snap is kind of dominant in that under 30 area. i think tik tok's a bigger threat to snap than it is to the other two. liz: the founder of tik tok had said that facebook seems very interested in the early years in this app he had created. to me it looks like facebook tries to capture, then kill any whiff of a competitor out there. this must have gotten their attention. what do you think mark zuckerberg is thinking right now about all of this news, whether it was or was not the tik tok group that were able to cause some empty seats at that trump rally? >> kill is a bit of an overstatement. instagram has done just fine since they bought them, so has whatsapp. they tried to buy twitter at a much lower valuation. i think facebook would be very interested in buying tik tok. i think that our elected

officials would probably block that. i mean, we had the justice department talking about antitrust actions against facebook just for being too big. so i don't actually think they could pull it off. what they will probably do is emulate tik tok just the way they emulated snap with instagram stories. i expect you will see tik tok-like feature on facebook within a matter of months. i'm sure that that's what they are doing right this second. this cause us all by surprise. nobody realized they could mobilize that type of action that quickly. liz: michael pachter of wedbush, we so appreciate you coming on. i knew you could come with your "a" game. this was a hot story. you have been covering these social media names. thanks for giving us the perspective. we appreciate it. good to see you. we've got the closing bell ringing in 27 minutes. well, yeah, here, the dow for a second was losing some steam. we are back up 103 points. the nasdaq dipped below the key

number it needs for a minute to close at a record. you need to see a gain of 74 points. we are back up 79 points. but it was touch-and-go. stay with us. well, after texas governor greg abbott says the coronavirus was growing at an unacceptable rate, suddenly there is major concern about a second wave. his state is seeing a sharp rise in covid-19 numbers just over the last two weeks. this as gilead announces it will start phase one trials of an inhaled version of remdesivir this week on healthy patients before moving on to patients with covid-19. that should happen in august. shares of gilead down about 2.3% today. but as new spikes take hold globally, particularly in south korea, do we need to light the fire under all of these companies? up next, a fox business exclusive with the mayo clinic's leading man in charge of researching covid-19 treatments. the world is watching him and

waiting on him. he's here with us today. "the claman countdown" will be right back. ♪ ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey ♪ ♪ yeah we could never do what they do. but what we can do it be a partner that never quits. verizon is the most reliable network in america. built for interoperability and puts first responders first, giving their calls priority, 24/7. we do what we do best so they can too.

liz: south korea's top health officials say that after the country had become a model of how to move quickly to snuff out coronavirus, it is now being hit by the second wave of the pandemic. the korean center for disease control now says outbreaks are beginning to grow, stemming from large offices, warehouses and nightclubs. this as the world health organization reports the largest single day case increase so far, this was on sunday, 183,020 new cases around the world. turning up the heat way higher on treatment and vaccine makers. here in a fox business exclusive, we welcome the man leading the hunt on both fronts. mayo clinic covid research task

force chair, dr. andrew badley. doctor, thank you for being here. what do you make of what happened in south korea and do you believe this is just a preview of what's going to come here to the united states? >> good afternoon, liz. thank you for having me on the show. what's going on in south korea is, of course, a concern. in their first wave of infections, they had a relatively low attack rate which means that not a lot of people were infected and not a lot of people are immune. now that they are starting to open up the country again, we are seeing a new wave of infections which is truly a second wave and it is, in fact, a big concern. how that applies to other countries remains to be seen. liz: i was going to say, how are the methods coming along for what you are looking for? any breakthroughs that you feel we are very close to or that you are really excited about?

>> so yes, i think there's plenty of room for optimism. i would like to make a comparison to where we are today to where we were in 1980 with the hiv discovery and initial outbreak. because of where we are with science and decades of sustained funding in science and our knowledge, we are able to rapidly implement new drugs to treat covid disease within months. we have already seen some results from trials. we have seen results from the remdesivir trial which we all know about, showing very good signs with efficacy. we expect to see results coming in from trials as well. we have the dexamethasone study. we don't yet have the details of those studies so it's hard to comment on the specifics but that study should be released soon and i think a number of other studies should be released soon. in total, i think we are

beginning to see signs of activity, a variety of therapeutic options to treat covid disease and that's very encouraging. liz: well, dexamethasone to me, that was the steroidal which is a very common medicine that's been out there for quite some time, and well accepted by many doctors, what do you make of that? that seemed to be true hope, at least as almost a stopgap between the time that you and the mayo clinic can come up with what really may be a power punch to this virus and where we stand right now. >> absolutely. as mentioned, the trial details are not known so it's really hard to comment on the specifics of the trial. but we do know it comes from a very reputable group. we do know that there is a scientific reason behind why it should work. so we are optimistic to see the data. we aren't sure how applicable it is to different populations.

one of the things we know from the press release is that in that patient population, the rate of death was actually quite high, about 41% of the patients who were admitted to icu and didn't receive dexamethasone died which is a very very high number. whether or not that applies to other medical systems has yet to be determined. the xhoernt is many grouother cs are using steroids in different combinations for critically ill patients who are in the icu and intubated. dexamethasone is a very strong steroid. there are other steroids that some are already using. at mayo we are using a different steroid for similar indications. but as the data emerges, as we get experience from multiple groups, we look forward to seeing the effect of steroids. liz: let us show you some of the many states which today are entering either the first or new phases of reopening. new york being among them.

new york city is finally entering phase two today. you've got massachusetts, nebraska, new jersey, west virginia, connecticut. which do you think will come first, doctor? i'm really interested to know, will it be a treatment or will it be a vaccine? >> so i think that's a little easier to predict. we are already seeing signs of efficacy of treatments. we have seen remdesivir, we may have seen dexamethasone. we will have trial reports coming out in the next few weeks of some others. i think we will start to see signs of a treatment that works. it's important to understand when a treatment that works means. it's not a magic pill that takes you from sick to healthy overnight. it's a drug that will work, will reduce the duration of hospitalization and will reduce the symptoms. it won't turn it over overnight. in terms of a vaccine, we are

already seeing vaccines in the clinic, being tested in phase one trials for safety and tolerability. early this fall, august, september perhaps, we will start seeing enrollment in vaccine trials but to show efficacy with the primary end point being it reduces the onset of infections, that's going to take months and months. some people have predicted it can be done in a year. i'm a little skeptical of that. i think it will take longer than that. before we have a vaccine which is proven to be effective, best case scenario, a year to 18 months. liz: andrew, we can only hope that you and your team crush it. dr. andrew badley at the mayo clinic, we thank you so much for all that you're doing and living through a very crazy time in history. right at the center of it. "the claman countdown" will be right back. the s&p is up 41% from its march lows. nice move.

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♪ liz: couldn't score a ticket to see "hamilton" on broadway? disney plus has released its "hamilton" trailer ahead of news that might just make your day. july 3rd, you can see it, because it is going to launch, the streaming premiere of the tone award winning musical. this film which features the entire original broadway cast including creator lin-manuel miranda, had been scheduled for release in october 2021 but was fast-tracked as broadway remains dark due to the pandemic.

disney's stock is up 1%. i predict the real move will definitely be when they see how many downloads they get just from people who want to watch "hamilton." disney stock is at $115.80 a share. trillions in stimulus checks, aid to states, infrastructure and the buck or bucks in this case. we're not stopping there. charlie gasparino is here now as new stimulus talk heats up. charlie? charlie: it reminds me of the austin powers scene with dr. evil where he says i will ex tort you for $1 million and they all laugh and he goes $1 billion. they laugh. $1 trillion. then it made sense. that's kind of what we have going on from here right now. it looks like this is going to be another trillion dollars. i'm going to tell you how we get there. this is what congressional sources are telling my sources,

wall street lobbyists who are following this very closely. they say this. mcconnell is likely to come in with his bill, that's the republican version, somewhere under $1 trillion, particularly as the economy is improving. pelosi is going to be significantly above $1 trillion. the compromise will be in the millions, will be in the middle and that's where you will get a number at least according to people i'm speaking to around $1.25 trillion. so that's where we're going with this thing. it's unclear if there's -- we should point out that a lot of this could be infrastructure. one reason why, it's unclear if there's just enough time and political will to do a separate infrastructure bill. people want more infrastructure spending. it's actually kind of like a grant to states when you do it that way. pelosi, nancy pelosi, the house speaker, democrat, wants to help states that were hard hit by the pandemic shutdown, help municipal workers, so that's where all this could come together, where this could be

heavily laden, something like 40%, at least that's some of the numbers being thrown around, of this bill could be in some form of infrastructure spending. that spending will be not just on roads and bridges. it would be from what we understand, there's a lot of talk about a rural broadband buildout, getting broadband to rural areas that are underserviced by -- for telecom needs. that's percolating as well. we should also point out that, liz, a lot of people are asking, i'm getting this on twitter because when we broke this story earlier, i have added new details for this report, when we did the outlines on cavuto before, got a lot of questions from viewers saying why would nancy pelosi want to help donald trump. because what they are forgetting is that both sides have a political issue here. pelosi wants to aid states and cities and municipal workers. some of this money will go there, particularly to blue

states, new york, illinois, which is in the middle of a massive budget crisis, california. trump obviously, the gop side of this, they want to push unemployment down below 9% and have as a talking point going into november that the economy is improving dramatically. you know, as you know, trump is -- the president is well behind in the polls, but you know, he does get better marks from voters on the economy and if he can get that number down, show things are improving, the republicans think they have a shot in november. so that's why both sides are doing it. again, liz, heavy lifting of this is not now. we are just getting the bits and pieces. people are talking about it. heavy lifting begins in a couple weeks, mid-july, and this thing should be done before the august recess. back to you. liz: okay. well, wouldn't it be nice if both nancy pelosi and the president just wanted to do what

was right for the country. imagine that. well, what's right for people's portfolios is happening right now if you are long the market. dow is now six points above 26,000. the market's gaining in the final few minutes of trade. you are about to witness a closing brand new record for the nasdaq. we are coming right back. don't go away. ng. it's evident in good times, with decisions focused on the long-term. and crucial when circumstances become difficult. that continued emphasis on people - our advisors, associates, clients and communities gives us purpose, strength and a way forward. today. and always. and people you can rely on. i'm a dell technologies advisor. me too. me too. me too. . .

at home. answering your calls. providing support. and standing by you every step of the way. bye bye. . .

♪. liz: look up, everybody. two minutes to go. it is no longer a nail-biter. the nasdaq is on track for the 20th all-time record close of 2020. 20 of 2020. let's get to dave joining us now. what is behind this v-shaped recovery. >> what we're seeing from the market perspective is conflicting information. many people are just looking at the economy, understanding the significant job losses and struggling to understand why the market has had such a sharp recovery but a lot has to do with investors are relately writing off 2020 and looking

ahead to 2021. if we look out the actual earnings data begins to look a lot better. there is no guarranty that actually comes to fruition. what we're beginning to see in the economy, with the pent-up demand especially on the consumption side, it will lead companies with leading innovations whether helping to propel promote work or technologies there, or all infrastructure spending coming from the buildout i'm speaking about, as opposed to the technology side what we traditionally think about on traditional infrastructure. liz: okay. dave what is the market dynamic people are not thinking abought but should. >> what we're thinking about, people are comfortable catching falling knives. it's a classic strategy. everyone want toes find the stock that has underperformed with the potential to bounce back, whether they brag about it to their friend and see an impact to their portfolio.

i recommend investors looking at dislocated stocks. [closing bell rings] liz: okay. good stuff. dave. that will do it for the "claman countdown." it's a win. 20th all-time record for 2020 for the nasdaq. >> ace new record on wall street. stocks liming as optimism about the recovery and stimulus hopes offset a rising number of virus cases. tech leading the major averages higher, driving the nasdaq to its 20th record close of the year. i'm melissa francis. welcome to "after the bell." connell: i'm connell mcshane as our coverage of the road to reopening continues today. we're on the upper west side of manhattan for new york city. for many of you watching us from other parts of the country, today's move to phase two of reopening here in new york may seem like no big deal but i can tell you it's a very big deal in this city, once t