, sort of boring if you will to the most exciting newest. that's i guess what they call the bar bell approach, ha? >> [laughter] i like it. charles: d. r., my friend, thank you very much. all right folks we're near the highs of the session looking pretty good as we hand it off in the last hour of trading and liz i know it's another crazy hour. >> liz: [laughter] i know, can you believe it? we are two points away from an s&p all-time record, charles. this is going to be crazy but breaking news. wall street exactly, it's a wow day, it's a wow final hour folks wall street is on the edge of its seat as we head into this final hour of trade, because for the first time this election year, we've got dualing 2020 presidential events about to unfold. first up, on the right part of your screen we've got president trump set to announce additional measures to help schools reopen this fall. that's a live picture of the state dining room when the president begins we have our cameras there we will take you right back to the white house, and then later this hour, we

will see the 2020 democratic ticket on stage, together for the very first time. what we'll do then is take you live to wilmington delaware where former vice president joe biden will kickoff his campaign with his new presidential runningmate, as vice president, california senator kamala harris each step of the way, what we're going to do for you in this final hour is watch the markets, sectors, stocks, commodities for tick by tick reaction. check it here markets in rally mode for the most instant reaction right now while it's tempting to focus on the really huge jump for the nasdac look at this we're up 235. folks the index to watch is the s&p. it is now within let's call it just under two points from its first record close since february, the number to watch, 3,386 we're at 3,384 and change right now. all right, for months wall street has been gaming just who joe biden might pick as a runningmate and kind of fretting

over you who the markets would react. let's get to one of the top voices on wall street we welcome jpmorgan morgan chief global strata strategist david kelly. is this a relief rally we're sen didn't choose banking hawk elizabeth warren or are markets comfortable with what a democratic win if that were to happen would mean for investing in the economy? >> yeah, well i think it's almost the same thing. i think that's right. initially during the democratic primary process, there was some concern that bernie sanders and elizabeth warren might win and that would suggest a very, you know, a left wing alternative to donald trump. now it sounds like more of a cen trist alternative and then when it comes to picking a vice presidential candidate, joe biden is clearly again gone with the centrist, left wing alternatives available but the democrats decided they want to win this election from the center and i think for people who are worried about policy swinging too much to one extreme or the other there has to be somewhat comforting and that's helping the market today.

>> liz: well when we look at pocketbook issues we wonder about kamala harris and they see her as a centrist or a progressive because the progressives aren't happy and maybe the far right isn't happy but then as you mention the centrist feel that the magnetic pull comes right to the middle. >> well yes and we've got to be clear. we're building up an enormous amount of debt and justifiable during this coronavirus recession, but come 2022 and 2023 we're going to have to do something to bring down that deficit and that probably means higher taxes, higher interest rates, whoever is in power so i think with the economics going to drive policy more than the other way around after this pandemic is over. >> liz: yeah and which kind of means that people will be watching what kind of promises are made by the president for capital gains tax cut versus what perhaps the democrats would look at and that may mean a hike in corporate taxes, as the president takes the stage , can i just get your

reaction quickly on that, david? >> yeah, well we can't, we need to do something about the deficit and if we don't do something about that we can have lower taxes next year but we have to have much higher taxes down the road as that deficit comes back to haunt us. >> liz: thank you so much, david kelly of jpmorgan you know maybe you can stick around because we are waiting to hear from both sides right now it's president trump. he is about to announce some new measures to get children back-to-school safely, let us listen in. >> the president said we want to work with states to open up america again, but open up america, we've got to open up america schools, and at the president's direction we've literally provided billions of dollars already to states to begin to open schools and secretary devos and i, as you know, mr. president, have traveled around the country to places like north carolina and indiana and louisiana and we are working literally day in and day out with governors and state

education leaders to find a way that we can safely reopen our schools. our commitment is to make sure that our states and our schools have the best guidance. we'll talk a little bit about that today. the cdc actually issued some new guideposts mr. president, not long ago but the first document they issued was the cdc's position that it is best for our kids to be back in school. the cdc's recognized that it's a public health priority to have our kids back-to-school and in- person learning but mr. president, as you've also made clear we're going to make sure our schools and our states have the resources to be able to safely reopen and we're calling on congress to work with us, to appropriate another $105 billion we believe that we can safely reopen our schools. we know that it's best for our kids. we don't want them to fall behind academically but also we don't want our kids to miss out

on the counseling that they receive, special needs services, as well as all the nutrition programs that are available just at our schools, and finally, mr. president, i know that you've recognized from early on that getting our kids back-to-school is first a priority for them but also it's important for working families. only about 20% of single parents are able to telework, and so to open up america again, we've got to open up america's schools to put america back to work, we've got our kids back in the classroom and so mr. president, i want to thank you for your leadership. it's great to be here with secretary of education, with kellyanne conway and all these remarkable teachers in particular. as you know i've been married to a school teacher for 35 years. she's preparing to go back to the classroom this fall and i want to thank all the educators who are here for all the hard work you've done through these difficult days and all the work that you're doing to get our kids back-to-school. thank you, mr. president.

>> well mr. president, thank you so much for your continued bold leadership through this crisis and particularly with respect to getting kids back-to-school. its been a privilege to travel with the vice president to meet with educators, education leader s, and especially with parents and students to hear about what their needs are as fall quickly approaches, and so i'm just thankful to be here with this group today to listen and learn from you about what your needs are as we anticipate getting back-to-school and thank you for your bold leadership in florida really setting high expectations for all of the students and educators there we know that for students and their families, they can't be held captive to other people's fears or agendas. we have got to ensure that families and parents have options that are going to work for their child and for their

children's education, and so i look forward to this conversation to as to how we can ensure that we do not have a one-size-fits-all approach but that we do ensure every child has a chance to go on learning full time this fall. >> thank you very much, mr. president, mr. vice president, secretary devos, we're here mainly to hear from each of you today. before i do that i just wanted to point out that there is a fairly recent kaiser family foundation health tracker poll that shows over 65% of america's parents are very concerned that their children will fall behind academically and socially if they don't get back-to-school. having said that we recognize that many school districts have already made a decision to either go hybrid or full time virtual learning for the first month or two or maybe longer, so our goal today, the president 's goal has always been how do we reopen safely? how do we reopen soon but how do we reopen safely? we also recognize that a number of teachers particularly the 10%

or so that are over the age of 60 in most of our schools are concerned, so we have given resources and guidance that allows each of those districts to make those decisions to maybe modify the work schedules of the teachers and other administrative staff that may be affected but overall, we know that the risk is low for kids in contracting and being hospitalized and of course the worse possible outcome, dying from covid-19, but the risk is very high if they are locked down indefinitely. nearly 100% of our 75 million students k through college left their places of learning, left those structures between the first and third weeks of march of this year, and we see that all situations were not created equally. the digital, the lack of digital assets was very obvious for many of our students. the lack of nutrition, the lack of social and emotional and mental well being and development, but also we heard from many school administrators and teachers their concern because roughly one out of five child abuse cases are detected

in schools, so we have to also think about all that we don't know and all that is being lost for these children by keeping them locked down indefinitely so in the interest of opening soon and safely for this entire country, mr. president, we'd like to start with alyssa from w akesha, wisconsin to a single mother and small business owner and her son, lewis is entering a public district school in the ninth grade i believe, freshman year. >> correct. >> if you can tell us a couple of things first of all what were the relative advantages of disadvantages of him being a bilingual student when you had to go virtual learning and then we understand that your school district has not yet announced a reopening plan and we're in pretty much mid-august so can you address both of those? >> correct. we as parents had to take a survey regarding either going back-to-school or going virtual so at the moment, we like you had mentioned, we do not have an answer yet. hopefully we do and i'm hoping

that we do go back because all the details that you just mentioned are very critical and important, and i am 100% of what you guys are saying at the moment. it was kind of difficult for him , because it's really hard being bilingual and having to learn two different languages but with the help of teachers and the community, he stood up and did a great job. that was the advantage that when he needed help, teachers were there to help them and fulfill whatever gap was not being covered. >> liz: all right it appears that the administration, interested in putting in $105 billion to help schools reopen for the fall, of quick note new jersey just dropped the requirement that new jersey public schools conduct in-person

teaching, so schools will at least for the moment either be online or in-person. let's bring in the ceo of a company as we have a major rally going on in the markets that has played a key part in providing nearly 5,000 educational institutions worldwide with remote learning and working computer software solutions. avia also has global customers in nearly every industry impacted by the pandemic. they just saw their first quarter of sales growth in more than a decade. joining me now, ceo. give me a sense first on the business climate, as you have everyone from american express to apple as your customers. >> yeah, liz thank you first and foremost for having me on your show and as you pointed out monday, we actually reported really solid earnings. in fact, we are growing our cloud and saas business significantly and it represents 30% of our revenues today and a little less than a year ago it was close to 15% and in addition

in this pandemic and uncertainty , we posted year-over-year and quarter-over-quarter revenue growth, and that's very exciting , and it's really focusing on the fact that we're now moving obviously to cloud and saas, but our services and software business now represents 89% of our revenue, so no longer a hardware company. 64% of our revenues are recurring, so we have a strong book of business going into each and every quarter and probably what i'm most proud about is the fact that we grew 900 new customers over the last quarter, so avaya is really a different company than we were let's just say a year ago. >> liz: yeah and by the way, when we look at what you've done , up 32% year-over-year, it's so cool to see a ceo who has a plan and then gets the team to execute it. we are looking at a market right now dow jones industrial is up 323 points, technology has been a roaring success over the past i guess since the bottom in

march, march 23, the nasdac has spiked exponentially. you know, you're a different kind of technology stock though. your pe ratio isn't so crazy it's affordable i believe you have a forward pe of three but talk about the customers that you have. you could start with apple. you could go to michigan state, florida state, what are you doing for schools as we're looking at a reopening in the fall of both universities and public? >> yeah, you know, that's a great question, and actually, we've introduced a number of new technologies to build-out a very robust portfolio but one of those technologies is really geared at driving collaboration as well as video in one collective package which we call spaces, really focusing on non-profit government and education, and in fact we've donated our technology to universities and educational systems around the globe and you mentioned some of them with florida state, michigan state, u

c berkeley, university of tennessee, here in the states in fact schools in kenya, south africa, middle east, all over the world, and really, where it kind of comes and brings it back to home is one of my co-workers actually has twins and in fact when they went to remote learning and virtual learning, back in the spring, it was really an absolute disaster because they had to move to virtual with video-only, and our technology brings together video with that collaboration with team rooms and really an immersed opportunity for students to stay connected around the clock, so it's better productivity for the students as well as the teachers, so we're always on. that technology is up significantly 550% and we're really excited that we're able to help and give back in these difficult times. >> liz: we throw this term " cloud" around a lot which is

basically servers in the sky, and you've got all different kinds of cloud businesses, but you've got one cloud, and with one cloud, you have a very big federal government contract and that is with social security. tell me how you feel about how that relationship is going with the government. we got an election ahead of us. we know that technology and business leaders like yourself are watching very closely the political landscape, joe biden is about to appear in just minutes with his new vice presidential pick kamala harris out of california. give me a sense of what a business leader like you in high-tech is looking for from a candidate now? >> well you know what we're looking for in fairness is someone, you know, who ultimately has a very good perspective of what's going on both from a macro perspective as well as what's closer to home someone that actually can get teams to work together which is extremely important and in

fact getting teams to work together is really what's moved us from where we were as a legacy company to one that's really focused on a cloud and saas and a company that today, liz, is very profitable through this transformation. in fact we just posted 26% of our revenues, ebitda as a percent of revenue we have more than three-quarters of a billion dollars in cash. we improved our balance sheet. we pay down 8% of our debt and repurchased 26% of our share just in the last nine months, so we focused an awful lot on returning shareholder value while continuing to invest in our overall portfolio. >> liz: great to see you, jim, and we love business leaders like you. we like turnaround stories we're watching it closely, jim chirico thank you, closing bell folks we are 43 minutes away but look at the s&p right now. we are just at that record high

up 53 points so we're right above it at the moment. could we close there? you've got to stay with me on a very major rally motion day today. up next, the 200--year-old bankrupt known for dressing wall street and american presidents, closer than ever to getting new life. charlie breaks it on brooks brothers, and tesla omg. have you seen what the stock is doing since the huge announcement last night of a five-for-one stock split? we'll show you and explain what it means for shareholders and wa nna be shareholders. we're coming right back.

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, the stock first jumped about 7% after-hours, i was watching it really closely but in this final , let's call it 38 minutes of trade, tesla's jumping 13%, so right now, the world's most valuable car maker after the close of trade on august 28 says that stockholders on record as of august 21 will receive four additional shares for every one share that they hold and of course, in case you don't know how this works, the value of the shares adjust accordingly, right? the split approved the board as the company looks to make its shares which is spiked 484% year-over-year, more accessible to the retail investor out there futurecast catalyst for the stock because they are already incredibly high for the shares so the s&p dow jones committee is set to re balance the index on september y believed that tesla will be invited to join the exclusive s&p 500 club. we'll see , right? all right it's a mixed bag for

other electric vehicle high fliers, neo,nikla, and so-called fund-maker is up 2% and nikola is up 4% and work horse is losing some energy but they just punched up into positive territory in the meantime rebounding to the top of the dow jones industrials we've got apple which already announced a four for one stock split which kicks in alongside tesla after the bell on the 28th apple moving higher by three and a third shares, investors clearly wanting their baby back ribs, brinker international is on on the move surging ..6% of a smaller than expected loss for the current quarter, but ouch look at red robin, gourmet burgers, rrgb down 13.6% investors are suffering after

the burger chain missed top and bottom line estimates in the lockdown quarter. i love their hamburgers i can't figure out why red robin they got to come through because their burgers are better than their stock at the moment. dining out still out of fashion, but ordering online is certainly in. grubhub getting a boost from its soon to be parent company "just eat" which reported a 44% pop in revenue from a year ago. shareholders to vote on the european food delivery services $7 billion plus buyout, of grubhub back in october. grubhub is moving higher by 5%. all right, so what do we have? the dow up 343 points, and now, the s&p has moved 50% off its march lows. let's bring back jpmorgan chief global strategist david kelly. a lot has happened in the past 15 minutes as we see this market taking off moving even higher. let us go back to the political landscape though.

as we await joe biden and the first appearance with his vp pick, kamala harris, talk about or talk to the audience rather, that might be worried about tax hikes and then the audience that's hoping for tax cuts, which is what the president has announced is still more to come here. >> well i think to be honest people should sort of cool their fears and their enthusiasm here. first of all with regards to the fears. we have seen periods of time where new governments have come into power and we raised taxes and it hasn't actually hurt. i mean particularly the most obvious example was in 1993 when bill clinton was elected president everybody knew he was going to raise taxes, he did raise taxes but he caught the economy in an upswing, so the market did very well, the economy did very well, while clinton was president and actually, we ended up with a budget surplus so when the economy is an upswing, that's a time to actually try and fix the books. tax cuts of course are nice, you

know, but the problem is you do need to pay for them so i'm very worried about the deficit. i've always been a little worried about the deficit but now i'm really worried about the deficit. we've got a debt-to-gdp ratio that is higher by this time next year than it was afterworld war two and we don't have an economy that's as dynamic as the one we had in the 1950s ahead of us here so we really do need to be disciplined so if we get tax cuts in the next year we may have to take them back anyway so i think people shouldn't be scared of tax hikes shouldn't be too enthusiastic about tax cuts the main thing is get the economy growing don't do anything as a government that slows down a recovery because we need to see a recovery in the economy and discipline with regard to the budget. >> liz: always, always, and we have not seen any discipline, but just dealing with facts, hard cold facts in the four years following the tax hikes that president clinton put into effect, we averaged a gdp growth of about 3.2% each year, and as we mentioned, we had a

surplus, but did we miss the window? you know the president trump had really had a very nice economy in the beginning of his presidency, and did we miss the window to actually institute tax hikes? you know, he might argue that and he did and he does and his administration does argue that the tax cuts would pay for themselves. have we seen that yet? >> no, they didn't pay for themselves and they wouldn't pay for themselves. you don't do it in a full employment economy. tax cuts help the most actually when the economies in a recession so i've no problem with the deficits we're running right now. it's just when the economy has recovered that's when you've got to have the discipline so it's going to be tough. we're going to have to deal with this , but the key thing is get the economy growing. we know that even increases in taxes and cuts in spending, we need to think about wasteful spending too but doing those things is possible in a growing economy so long as you don't interfere with the growth of the economy so i think it has to be done carefully but we do

need to have some discipline around both cutting spending growth and also increasing tax revenue in the years ahead. >> liz: yeah i wouldn't say we have an economic up swing at the moment with the coronavirus still in play. david kelly great to have you. david with jpmorgan thank you so much. let's go to cheryl casone for today's fox business brief. looks like the market is ready to wechat with tensent again, cheryl. >> well yes, liz claman. tencent rising after management downplayed the trump adminitration's ban on its popular app wechat. the digital powerhouse saying it doesn't impact any of its oath business and won't have a major impact on overall revenue those comments coming after ten cent's report of a 44% year-over-year pop in revenue on robust demand for games. there is tencent up 3%. now from one tech to another, microsoft one of the dow's big winners today after pricing a little surface duo phone, $1,399 , the dual-screen

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myself included, because i am a member of the pac 12 were dealt another blow by the pandemic. big 10 and now pac 12 announcing they will cancel all, not just football, all fall sports due to coronavirus concerns. the university of nebraska had floated the idea of maybe playing this season outside of its big 10 conference but the big 10 commissioner kevin warren said no, no, no, not allowed. well, i just know that my berkeley bears would have won the entire thing is all i have to say had we had a season. iconic clothing retailer brooks brothers, its found a buyer. simon property group an authentic brands group willing to cough up $325 million for the brand. the deal is expected to receive court approval friday, but you know, as charlie gasparino always says it ain't over until it's over. to charlie gasparino himself, what are you hearing right now charlie? charlie: you know, does berkeley actually have a football team?

>> liz: hey! charlie: do they actually play sports there? i thought they just protested at berkeley. >> liz: [laughter] they smart protest how about that? charlie: yes, okay, okay. actually, yeah, there were a couple pro football, chuck munci e, remember the great runningback? >> liz: you don't have to tell me of course i remember him and the play, hello. charlie: he went to berkeley. okay, you got a couple. anyway, let's talk about brooks brothers, because not only is it iconic branded. i love brooks brothers clothing and it looks like it's going to survive in some form. that simon property group authentic brands also known as the spark group, it came in with yet another offer, they up ped their ante at $325 million for brooks brothers and it looks like it's a done deal.

that heightened offer i believe there was something like 315 million, that offer closed the others to dropout but from what i'm hearing and i spoke with some of the other potential bidders. there is a chance of a last minute deal that actually tops that. this is not totally dead. you could say it's on life support. it's going to be hard to top that bid it's a very aggressive bid and they're going to keep open some of the stores remember simon property owns the real estate that brooks brothers is on, some of the stores, so you know it has a vested interest in keeping the company going, so that's why they bid up but from what i understand at least one other bidder is taking a challenge in this. now how would you challenge that you'd have to ask the bankruptcy judge which ended essentially ended the process last week to have an extension and i think that's what one of the bidders is thinking about doing and may do it and we'll know in the next day or so if that bidder does that, and then it would have to get financing for a heightened

bid. so that's where we are right now this thing should be done. it should be sold to simon property, but i am telling you i spoke with the principals in this other bidding group, and i'm not at liberty to say the name but they are weighing coming in at the last minute with maybe a heightened offer or a different offer, an offer that keeps open more the stores, pays the same amount but changes some of the dynamics that are much more favorable to keeping the brand in a bigger semblance of its current footprint than simon property because remember they are going to close a lot of the stores. it's just that's just the way this thing has to work to make the economics work, as you know, retailing was a tough business before covid. it's even tougher now, all you have to do is look at midtown manhattan to know that even the flagship store of brooks brothers is going to have a hard time reopening and by the way that was a beautiful store. i'd love going out there picking out ties and it was just a

beautiful shopping experience. it's sad that it may go, but maybe not. maybe they will keep that store as part of this revamp but anyway i would just say watch the next 24-48 hours. there may be a way, there may be a little bit of a bidding war here and we'll see possibly someone else getting back in to the bidding. liz back to you and remember, chuck muncie great running back, new orleans saintses. >> liz: you don't have to tell me but see this just shows your lack of knowledge about football remember, aaron rogers, marshawn lynch. all uc berkeley alum. and do you know who else did? liz claman. thank you very much. charlie: liz claman. did abbey hoffman go to berkeley >> liz: yeah, he was my room

nate. we're looking at a huge rally we've got the nasdac up 219, dow up 300 points, the 10 year which earlier, yeah, that's a seven- week high by the way .67% so not a lot of fear at all in this market with the closing bell ringing in 21 minutes. folks we're moments away from seeing history play out in front of us the newly-formed democratic 2020 ticket is about to hold its first campaign event together. we'll take you live to wilmington delaware as soon as joe biden and kamala harris take the stage. and as the world waits for the return of the nfl next month, forget about college ball , find out how two-time super bowl champ and former patriots defensive end jarvis green pivoted from football to business in a huge way. all in a brand new episode of my everyone talks to liz podcast, his oceans 97 shrimping company

took a major hit during this pandemic because he of course supplies a lot of restaurants which all shutdown but that did not stop him from creating a whole new business. pretty much in the blink of an eye as he entered the world of ppe. yeah, that's right. jarvis green's incredible business journey it's developing as we speak available on spotify , apple, foxnews.com, folks we're coming right back, right there with the s&p up 49 points we are just below an all-time record. stay tuned. (vo) since our beginning, our business has been people. and their financial well-being. 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.

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you may already know that goodrx can help you save up to 80% on your prescriptions. unfortunately, many americans can't get to a doctor right now. the good news is that for many health issues you can see a doctor online. it's easy. just go to goodrx.com and with a few clicks you'll be treated by a licensed medical professional all from the comfort of your own home. visits are confidential and affordable. need a prescription? your doctor can send it to your pharmacy or have it mailed to you. get the healthcare you deserve at goodrx.com. >> liz: breaking news now, on the 2020 election, we have just been allowed to fire up our cameras inside the alexis dupont high school in delaware. we are moments away from joe

biden's first campaign event with his new runningmate california democrat senator kamala harris. she is the daughter of jam ache an and indian immigrants which makes her the first black woman and first plymouth asian descent on a party ticket and where does she stand on taxes on the economy and to hillary vaughn who is live in wilmington with more, hillary. >> reporter: liz i want to point out what's happening right behind me because this is something we've not seen in several months during this pandemic. you're seeing a crowd of dozens of people that shared the motorcade as biden and harris arrived here on-site at the high school. they were shouting "biden/harris " cheering their arrival here today. we have not seen any of that type of crowd at any of these campaign events so far, but what's interesting today, as harris shows up, side by side with biden, she is also adopting his agenda today, and the reason why that's significant is because when she was running for president and was still in

the race, she ran to the left of biden on many issues, from medicare for all to the green new deal, even to taxes. >> on one side, you've got a couple of folks who won't cover anyone. i mean not cover everyone, so they basically by their own admission would leave out about 10 million people which just for the sake of proportion is about 10 times the population of delaware. people say how are you going to pay for it? well that's really simple. on day one we're going to repeal that tax bill that benefits the top 1% and the biggest corporations of america. >> by the way i'm not a socialist i just need to tell you that. i do believe we need to grow our economy but we need to do it in a way that supports working people. >> reporter: just a few months ago harris' platform had major policy differences from bidens. she led on issues like the green new deal and medicare for all ideas that biden did not sign on to, harris also wanted to raise the corporate income tax rate to 35% much higher than what biden wants to do raising corporate

taxes to 28%. she also wanted to pay for medicare for all through a tax on wall street including taxes on stock and bond trades, taxes on derivative transactions and she also pushed for some student loan debt forgiveness and also wanted to make two-year colleges completely free for everyone. biden on the other hand does not want free college for all. instead saying he wants free college for certain people and a certain income bracket and one key difference here when you're looking at big tech companies, liz, and why they have their eye on who he would pick for vice president to be his runningmate is because elizabeth warren was a contender and the concern from big tech is that she promised and campaigned on breaking them up. well harris actually is representing the state of california and has many of those big tech ceo's in her constituency. she's been a lot softer on big tech than other contenders have been so this is probably a sigh of relief for silicon valley today as well. liz? >> liz: yeah, you know, hillary i'm glad you brought up silicon valley.

they are very familiar with her. she is a familiar face to them. she's held a lot of fundraisers for her previous elections in the state of california and, you know, silicon silicon valley is a huge driver of jobs and prosperity in this country. if they tend to lean one way or another and they give her the vote that does tend to be certainly a powerful move, but california already probably going democrat but as you look at all that has been developing in the last hour or so, we wonder about her stand on healthcare, because she of course initially had said medicare for all, and had given a scare to the private insurers but then she walked that back. she will do what the man whose at the top of the ticket will do , most likely. that's why he picked her but we're looking at a mixed picture here with just united health group moving higher by 2% the rest of the big names in insurers down about 1-2%, but hillary, with that crowd behind you, who else are we expecting?

any big names? >> we really don't have many details on what's going to be said today, in fact it was a little confusing to see this crowd of people here, because joe biden's account tweeted out that the event today be virtual, like most of his events during the pandemic have been with very few people in attendance but somehow, this crowd is here on site at the high school to at least greet them. we don't know yet if they are going to be let inside and we've also received no details on what they are going to say today about their platform, and about their joint effort now, to try to defeat president trump in november. liz? >> liz: all right well, i would bet that joe biden, and doug emh off, the husband of kamala harris, he's an entertainment lawyer, 55 years old, they met on a blind date he's probably going to there too. he's been a big activist and supporter hillary please keep us posted thank you so much with the closing bell 10 minutes away , we are looking at a

continued rally, the bulls are on a stampede at the moment dow up 297, even crude oil is higher by two and a third percent gold pulling back slightly, no fear in this market volatility down 7.7%. for those of you who are big teched out our countdown closer has the names to help equal the scales in your portfolio with some smaller-minded thinking, that much talked about rotation out of tech and into everybody says either financials or small cap, guess what. our countdown closer makes a big pick for one of those , stay tuned. introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today.

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♪. liz: want you to remember this number, 3386. that is the level of the s&p which would mean we have an all-time record close. we're at 3379. not far from it. we already breached the ceiling

earlier in the session. we have big rally either way. s&p outside the first record. that would have been the last time, february. sew we're getting a bunch of quarterly results after the bell. we're waiting for those. names like cisco systems, lyft, vroom. the ceo will join us tomorrow. it is a really momentum stock. smile direct. we have have a mixed picture for all of them. shares have been down about 29% so far this year. the ride-hailing company expected to report a loss of a dollar per share on 336.7 million in revenue which is down 61% from a year ago. of course that's the pandemic. people were not taking or hailing rides. cisco systems, the only dow member to set to report this week. the computer networking giant is expected to report 74 cents per share. that is down 11% a year ago.

12 billion in revenue. down 10% from a year ago. it is interesting, because we brought you avaya, the big cloud company. avaya had a great court h quarter. it is haves and have-nots in the pandemic. as it they head into the world of materials, financials, small caps, airlines, the investment scale starting to get a little heavy on one side. today's "countdown" closer, on board, saying small caps, picking those on the heavy side. we welcome intrepid capital president ceo mark travis. why small caps, mark? >> liz, i think when volatility picked up in the spring, maybe they were in the same five securities, that is not quote, the safest place to be. we found smaller cap businesses with both compelling business valuations and very defensible balance sheets which you certainly need in the crazy world we live in. so that is where we tended to

hunt, if you will over the last 25 years to create a good risk adjusted returns. liz: yeah. when you look at a skechers, for example, you do like a cannabis name here, trulieve cannabis corporation. why these in particular? >> start with skechers. the greenberg family has done a great job growing the business. they have grown sales in china as the pandemic lifted there. starting to see sales growth in germany. number three shoe brand behind obviously nike and adidas. it is compelling balance sheet, net 700 million in cash, the shares at 30 we think are worth in the mid 40s. trulieve is local story as florida-based surfer as i am.

they have 55 dispensaries for cannabis. not that i partake at this stage of my career. they have 385,000 people licensed to take cannabis. that is growing rapidly. they will generate 160 million in ebitda, be cash flow positive. we own 9 and 3/4, 2024 notes. equity is absolutely screaming. in the case of skechers, and trulieve with management with ownership stakes. liz: hold on a second. i want to interrupt you here because i guess they're running a little bit late, but joe biden, kamala harris, the presumptive democratic nominees, that will be the ticket are about to appear in wilmington, delaware. president trump has certainly had an economy. he generated an economy in the beginning of his presidency that was very strong. now because of the pandemic we have some struggle here. on a day like today where you see such a powerful rally in

stocks, tell me what you're thinking will happen for wall street? there was some fear a biden presidency would take the markets. of course we don't know what will happen on election day. but as a market participant what are you keeping your eye on here? >> i like to refresh people's memory, back in '08 obama took office, the right-leaning side of the spectrum thought market would crash. the left-leaning side of spectrum, when trump was elected the market would crash. i think you have unprecedented financial support from the federal reserve. it is very hard not to be invested. i think the market tends to discount the future. as hard as it may be for some to believe look at the polls, if the equity markets perform now and early november trump could get reelected just on that basis. liz: oak.

there we go with the closing bell. we have quite the moment here. [closing bell rings] s&p 500 straddling the line. doesn't look like a record. but we will take for the bulls the biggest run at the moment. that is pretty much near session highs. have a great day. connell: all right. it is the ticket debut. a lot going on, joe biden, kamala harris are about to make their first public appearance as running mates. we'll watch that. we expect to see them this hour. while we wait for that, we have the stock market closing today, not far from the highs. news rally driven by the tech stocks. good could be with you, i'm connell mcshane. jackie: i'm jackie deangelis in for melissa francis. this is "after the bell." inching closer to record territory. the dow 6% away from the record close. the s&p flirting with the record close as well. nasdaq up about 2% with tesla leading the charge. shares surging after the company announced a five