think as we hit new highs, we raised our target last week to 3,525, so i think the s&p still has a lot of room to run. charles: all right tom you've been spot on about so many things. i appreciate you taking the time in the meantime, i'm going to hand it off to cheryl casone, whose in for liz claman. cheryl? sort of a typical summer day, but that s&p is within striking distance. >> cheryl: look at what the nasdac is doing right now here i was thinking i was going to talk up the s&p for now or go nasdac, charles thank you very much. i'll take it from here so the s&p and the nasdac are really flirting right now with new record highs as we go into the last hour of the session this monday and we're jumping into high gear as the election now is kicking off this week with the conventions and also breaking this hour, president trump taking the fight right to the backyard of the dnc as night one of the virtual historic convention kicks off in just six hours and the president just moments ago began to

deliver remarks on jobs and the economy, and from the mankato regional airport in minnesota looking at the live pictures and then he's headed to wisconsin for another event we've got that all covered for you. now, there's one area of the economy going full steam and that's housing. the exodus from the cities to the suburbs fueling demand for one company, so much they are actually struggling to fill thousands of open positions, even with millions of people still unemployed in this country we've got the ceo of two men and a truck, he's here on the housing hotspots and he's in the cities where people are going and there was this new forecast by the cdc, predicting that the u.s. coronavirus death toll could reach 200,000, by september 5 but could a newly- approved rapid saliva- based test be a major game changer? it's pretty interesting stuff today former secretary of health and human service dr. tom price is going to give his prognosis

on this new test and a lot of other things within the pandemic plus, the oracle of omaha making a new golden buy and charlie breaks it and we're less than an hour until the closing bell even cheryl casone in for liz claman. let's start the "claman countdown." and we start with some breaking news right now. firefighters are battling these blazes out in california, after a rare summer thunderstorm brought lightning that actually sparked several small fires like they really needed that at the northern california. all of this has set off a huge forest fire just north of los angeles, more than 4,500 buildings are under threat by this wildfire, which is burning towards thick, dry brush and that's not a good thing as you know, in the angeles national forest we'll continue to monitor what's happening this afternoon

out in california and we also have this story to bring you german biotech chore vac working on a covid-19 vaccine, that stock is popping right now. look at it at 32% and change this is a second day of trading, after the stock initially sky rocketed 249% when it made its debut on the nasdac on friday. we do want to note to you the bill and malinda gates foundation funded it with 44.2 million back in 2015 and that investment from the gates getting a lot of attention today and the stock again is on fire. then you've got warren buffett's berkshire hathaway making a big bet on gold that added $562 million position to gold during the stock exchange. that cost of stock, you know this goes public this is what happens, it popped 11% today and this now makes berkshire the 11th largest shareholder in the gold miner and there it is up almost 11%. then take a look at this this is one of buffet's other big

investments, look at apple. this company is closing in on a $2 trillion market cap. that stock hitting a record high , 464.35 earlier this morning, right now we're at 459.51 this puts apple's value get this $1.985 trillion. now yes the stock slipped since this happened all this morning but when apple does hit that $2 trillion mark and i'm sure it will pretty soon it's going to become the second publicly-held company to reach that trillion dollar milestone after saudi aramco $2 trillion milestone and we'll watch apple throughout the hour for you. also, here is a question for all of you. is there a shutdown looming for uber and lyft? rides for both companies may have to come to a halt in the state of california this week, after a judge said they need to stop classifying their drivers as independent contractors. now both uber and lyft say they will be forced to suspend services to restructure their

business model while also looking to appeal the judge's decision. shares are both down as you can see , there's a ballot measure on this by the way in november so the voters may have a say in all of this but right now lyft is down by 5% and uber is down more than 1.25%. well, let's get back to these markets and these major indices with the s&p and the nasdac, a lot of fun for me on a monday, zeroing in on new records as president trump is touting jobs and the economy. you're looking at those live pictures coming out of this regional airport this is mankato, minnesota. he's going to give the speech talk about the jobs and the economy but head to wisconsin. he's going to be campaigning in the same state, where democrats are kicking off their convention , tonight. the voters choosing trump over joe biden by 8 points when it comes to trust on the economy. that's according to a new cnn sr ss poll. the funds trump trailing biden by 4 points overall but that's within the polls margin of error we should say. minnesota and wisconsin are both swing states, very crucial for

the election. trump losing minnesota by less than 2 points in 2016 he won wisconsin by less than one point the real clear politics average of polls not quite so close this time around as you can see but we've got connell mc shane whose on the road again, again, swinging through the swing states to see how the economies in this place is going to impact the election you're in racine, wisconsin you just couldn't sit still, connell off you go. connell: yeah, i'm really excited actually cheryl to get out of the house, right, for a couple weeks we'll hit as many swing states as we can and beginning here, as you said it was so close and so important for the president last time around, if he's going to win in wisconsin, the next time he'll have to again dominate the farm vote which we've been focused on here in the ground, dairy farmer s like dave daniels went big in the president's way the last time and dave when i spoke to him said he's leaning towards voting that way again but he's not yet completely sold looking closely at economic issues that impact his bottom

line. >> if we can keep the trade segment open, and keep those avenues open for us, if we can also get the schools open i think that's going to help with the dairy industry. connell: a lot of milk in those schools and manufacturing is also huge in this area. pindle global is a company we visited that makes precision machine parts that actually shifted gears making parts for ventilators earlier this year. the ceo is a guy named bill barr ian, a republican his whole life but he hasn't yet decided who he's going to vote for this year. >> its become clear over the past four years that we need to be doing this type of manufacturing here, that you add in covid and the disruption of the global supply chains, it's all the more critical that we do it here. connell: made in the usa obviously a big theme for the president something he talks about all the time. for bill though it's the

president's handling of the pandemic that has him questioning whether or not he will support him in the election it's something you'll hear more about cheryl as we continue our reporting on after the bell here in next hour. >> cheryl: you're on to something with john kasich speaking at the dnc tonight, someone that ran on the 2016 republican ticket so connell mcshane thank you very much, right now as we get closer to the bell ringing we've got markets clearly going pretty much unrattled since this election of u.s. senator kamamaarlarima as majoejoejoeees nnatine.gmgm inact, f f n tas tc hitcnn all-mel- intl-day highy ieroday. 'r t hiint betti be w t see aee a nc,as ano re closeor t fhe fdac, f cl tosoeose hositeosittiositosos fhen t t tea teangngs for f and wd wre buiinin oin lasintink 's gai'snsns you ye got a a a ah gain ogaf 8.f 8. poi onn s ss now b nut n n wha interesting about the s&p is that goldman

sachs went all out, they've increased their year-end price target for the index by 20%. they're now saying 3,600, very bullish call from goldman as you know, but are they right and what is that, how are we going to get there frankly? let's go to the floor show with phil flynn standing by. how do we get to this new call from goldman sachs by the end of the year? >> well first thing you have to look at is the all-time high pivot which to the s&p cash is 3,393. that is the level the whole markets watching. the bears are hoping that maybe we touch it and then we trace it so they could say that it's a double top and i don't put a lot of credit into that. i think that building a new little base here, we've got a little bit of a push in the re balance trade in the small cap, the banks, the airlines, but that's not what it's going to take us to goldman's target of 3,600. it still has to be big cap tech. i still see it perform well you

still need momentum in tesla and what's going to bring us there is potentially amazon. amazon in my opinion, if jeff listens up he tries to split the stock 10 for 1 and i think if he does so amazon is a great name to own in the fourth quarter and if it's the all-time highs above 3,350 and maybe 36, 3,700. faster with the split probability also good if it doesn't. >> cheryl: amazon and apple and netflix all these tech names have been powering while we're looking at potentially another record close on the nasdac, but phil flynn we're also looking at an oil rig count in this country sitting at i couldn't believe this , this morning a 15 year low and if we're going to get to that goldman call on the s&p by the end of the year, you've got to get to the u.s. economy turning and burning and the energy sector is really lagging right now. >> it is. this is the worst setback we've seen in energy probably in my lifetime. i've never seen it this bad and i've been through a lot of bust even back in the 1980s that i don't like to admit to that i

remember but they're that bad and i'll tell you, when you look at this it's unlike any other bus we've seen because it came at a time where we're already saw a lot of debt in the industry, a lot of companies are already struggling and they get hit with this covid stuff it really was a snapback, but having said that, i do think that the worst is over, for big energy, and little energy. there's still more pain but then it'll come back as the economy comes back and then to get back to goldman's call, listen, i think they are going to be right , actually, be low if president trump gets re-elected they're going to be high if vice president biden gets elected because they really think policy matters. tax cuts matter. policy matters and if you're going to start raising taxes when the economy is struggling don't look for the stock market to perform very well. >> cheryl: that's interesting to your point, phil there's things i don't want to admit

about the 80s like certain outfit choices and very large hair style, but i was sporting at the time so let's talk scott about tomorrow. let's move into tomorrow morning we'll be getting numbers out of walmart, hearing from home depot , last time we heard earnings from these retailers, the online story was astro tammy bruce it call. income this is when the country was locked down but i'm wondering if those expectations are strong for tomorrow, these are dow components we'll be watching. >> yeah, i think it's very high so walmart today is at a monthly if not all-time high, if the stock goes from an all-time high prior to numbers they better deliver and it's going to be interesting because i think some of the stimulus or some of the benefits have been dialed back for august, so there may not be as much spending so i think for walmart and target, it's very important that washington comes back and they come up with some kind of stimulus package so this way, those who are out of work can continue to get supplies and where do they usually get supplies it's probably walmart and target so the call for walmart will be interesting

i think at this point, it's set up for a big report it's going to have to deliver. i actually came out with a strategy to buy walmart, about three weeks ago, a call spread which is up about 200% just for fill disclosure i took off half today and i'll let the other half ride to see if they actually come out with the results people are looking for and if so, it could be another all-time high. >> cheryl: speaking of price targets phil flynn i'll put you on the spot a little bit. oil prices rest of the year. do you have a target at this point? >> yeah, i think we get back into the 50s before the end of the year and it could even get a bit higher. we're going to see inventories fall over the next couple of weeks, get ready for a little end of the year squeeze for oil, and that's going to make some energy companies happy. >> cheryl: get a vaccine by the end of the year people start driving again going back to work and school. that's the story. guys thank you very much. happy monday, guys no kidding right? here we go, well the dow is under pressure today but we got a 98 point loss there, on some

of the bigger industrial callings but some of this i want to add, but americans stuck at home during the quarantine have turned to home improvement projects to keep themselves busy , its been very good for home depot we just talked about it. they are expected to report a pretty strongq 2 tomorrow, same-store sales expected to be up 10.9% the stock right now ahead of those earnings in the morning is up almost 3% and it's not just the home improvement company that are seeing benefits. movers are basking in the glow of the shift of the exodus from the cities to the burbs. coming up next we'll talk to the ceo of two men and a truck on trends he's seeing in the moving industry. the "claman countdown" is coming right back. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position.

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>> cheryl: we're getting breaking news right now, fx games is seeking a temporary restraining order to stop apple from making its wild ly popular fortnite game app unavailable to smartphone users. epic is also looking to make sure that apple doesn't take any further adverse action, like suspending it, from its developer program. this follows epic's lawsuit against apple and google, on thursday, for removing fortnite from their respective app store,

they are fighting over user revenues and fees, and the battle, the epic battle, if you will, pun intended is actually getting more intense. there is apple now we're seeing pressure but they did get close to that $2 trillion mark, and tencent holdings is a stock to watch as we go into the close. well the pandemic is not scaring away those on the hunt for new home. home builder confidence at a record high this month according to the national association of home builders index we got this morning big turnaround after dropping to the lowest level since 2012 back in april and it's now at the highest rating on record in the 35 year history and it's not just home builders, movers are also seeing a boom in their business, some are doing so well during this busy summer season they're finding it hard to meet the demand as in thousands of un filled jobs. look at this. lots of unfilled jobs want to bring in two men and a truck ceo john nobis, and you've got 3,500

open positions right now. why are you having a tough time finding folks to work for you? >> well good afternoon, cheryl and thanks for having me. you know, the busy moving season usually starts at end of march, april, may and it got pushed back because of the pandemic, and so people aren't afraid to move at this point in time but there was a time in april and may when that housing existing home sales was down over 20% for a few months, and now that that has come back and we thought it probably would come back, weren't sure exactly when but we've certainly seen it come back strong in many markets , and really across the nation we've seen around august 17 now really representative of what we normal ly see in june, which since we missed that busy hiring and ramp up season, that we typically have at two men and a truck, we're now striving to continue to hire and train our teams to be able to take care of all that moving, that customers are looking to have.

>> cheryl: i want to get to the issue, do you think that people are making more, or they were making more, at home on unemployment through the end of july and that's why you had a hard time finding people? >> well i think that's a part of it for sure, is that when the market conditions change, and what the market level is to be able to pay somebody, changes , that's an important piece and i think the safety piece of it, you know, certainly in april and may when we typically hire people, there's a lot more question in terms of what should the procedures be from a safety perspective. all of those things kind of added up to the dynamic that we're at today, which you know, certainly changed from an unemployment perspective, but now, we really see it as we got to develop a relationship long term. 40% of our franchise owners started on the trucks. we're not looking for necessarily somebody just coming to look for a job, but a lot of times they look for a job , they end up finding a career and we need as a franchise to continue to find ways to be able to create that

opportunity to see the long term >> cheryl: and you are a franchise and a very highly- rated franchise name in that particular space, at the same time though, i got to ask you where are people moving? because if you look at the nhb data from today, new homes? yeah that's the suburbs. people are taking those low mortgage interest rates and they're moving to the suburbs, but where are you seeing biggest exodus from a big city to a smaller suburb in your opinion? >> well and you can see where we've got a number of opportunities to be able to hire up but it's a little early to tell from this year because like i said, it's the equivalent of june 17 in 2020. you won't know that really until you get to the end of september. i certainly hear anecdotally that people are moving out of the urban areas out to the suburbs, we see it in the home builder index. all of those things point to it but you've got to remember, the volume of moving over the last few months has been lower and so now, as we are able

to compare august and september to what june and july would have been last year, that'll give us a much better indicator of where everybody is moving, but certainly, we're seeing some of those indicators very early on now. >> cheryl: we would love to have you back, john and you've been like a success i've actually followed your company for years and we've talked before. i will say i know that moving has changed under the coronavirus epidemic so certainly, people have to realize they're going to need a lot more packing material and patience if they decide to move. thank you very much it's good to have you on the show. >> great. good to be here. >> cheryl: two men and a truck closing bell, we have now got 37 minutes, the dow is down 89 from a housing boom to a travel bus, up next the high-tech innovation taking flight at your local airports that airlines hope will get you and yours back into the skies, "claman countdown" is going live to newark airport, coming up, next. introducing stocks by the slice from fidelity.

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>> cheryl: airlines struggling to survive the lack of traffic amid the coronavirus pandemic, and that struggle reflected an airline's shares today. american, delta, and united, all of the stocks are in the red in particular united losing almost 5% and american down almost 5% but record low travel numbers giving airports and the time and space to put safety screening practices in place they hope will lure travelers back to flying. christina partsinevelos is at newark international airport with more, usually, a very very busy airport. how is it today? >> reporter: we're going to show you that. usually is the keyword not applicable today but this technology revolution has been going on in airports even pre-pandemic but now its been accelerated because like you mentioned there's this urgency to make people feel more comfortable with traveling and to make it safe. to answer your question, cheryl, it's pretty empty.

there's not many people here at newark airport and i've been here since 7:15 this morning and its been dead; however, technology is ramping up. we take for example, hong kong international airport, they have put in these disinfecting booths so where you step inside the booth, you get your temperature taken right away and they spray you with this anti- microbial spray and you're out the door within 40 seconds, and you know, another airport, dubai airport, they are very advanced. they use biometrics to check your iris when you go in a tunnel but they are also going back with old tactics using canines, they are using dogs to detect the coronavirus. they roughly had about 400 tests according to the airport and a 91% accuracy rate. if we bring it back to america, in pittsburgh, they've been launching these robots that clean the floors with high uv rays as well, there's some continuing with ppe

products these masks you can get absolutely everywhere and we did speak to the chairman of the port authority about this , and he said we're not going back to pre -pandemic travel. >> so these little contact going forward regardless whether the covid vaccine is out there or not. the new reforms are here to stay >> reporter: we've talked about these new reforms. robots, the latest will be biometrics as well that your face will eventually become your passport. you won't have to touch anything except dropping your bag on a counter and then moving all the way to your gate. even just in this airport, port authority put all these ppe vending machines here to get all your supplies if you forget and there's medical screenings as well so this is the norm now, we're not going back to what we saw before. one positive though, and i'll leave it at that, could be less lines. back to you. >> cheryl: yeah, or no lines that's very true.

hey, you know, maybe people will get comfortable soon. i hope so. i think a lot of folks are ready to get on a plane. >> reporter: i think so it's picking up, it's picking up slowly. >> cheryl: christina partsinevelos live at newark airport, with the dow down 76 points, 75 we're coming back a little bit, i'll tell you what the s&p and the nasdac we're looking at a new nasdac record close, if we get 11, 108 which we're above right now, that be the 159th record for the nasdac under president trump. there were 73 of those elections , and s&p and the number 36 and change, we're so close, the s&p is toying with us right now. well, u.s.-based novavax launching a mid-stage study of its covid vaccine candidate in south africa where a wintertime surge could help provide early indications of the vaccine's viability, and the stock has been on a terror for months it's up 5.5% today and back here at

home, the approaching flu season is raising the stakes on the vaccine rate. coming up next, former health and human services secretary, dr. tom price, an increasing twindemic fears and how afraid we should be about the upcoming flu season, "claman countdown" coming right back.

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>> cheryl: well, a grim statistic emerging from this past weekend, according to john hopkins data the u.s. recorded more than 170,000 coronavirus-related fatalities with many of them occurring in southern states. well, u.s. health officials battle one pandemic, there are fears of a twindemic, as we head into fall flu season, that be a combo spike in covid and influenza cases. i want to bring in former health and human services secretary under president trump, dr. tom price a former republican congressman from georgia.

great to have you here, sir. >> good to be with you thank you so much. >> cheryl: let's start with the fears about this twindemic in the fall. how concerned are you as a physician that the country is once again going to be overload ed? >> well there is indeed a risk of that however it's too soon to know how severe the threat of the flu is going to be this year , and it's a different disease every year, annually, and how effective the vaccine for the flu is going to be. that being said, i think that the kind of social distancing, the mask wearing that we're doing the hand washing that we're doing all of those things that are helpful from a public health standpoint may in fact diminish the effect of the flu season, so this is a new road that we're on, and we won't know until we cross over that time period, but it's something certainly to be concerned about but not something that we need to be afraid of, because i think we're doing the kinds of things from a public health standpoint that can mitigate that challenge >> cheryl: you ran the healthcare of this country this is a job you formerly held

and we're struggling right now as a country, in particular, with testing, and mask testing and the speed of testing there's a new saliva test that was just approved the fda for emergency use over the weekend. now there's five of them but this one seems to be cheaper, faster, and in fact yale university worked with an nba on basketball players. where do we finally get that break that we need? is this it to where we can final ly get quick testing to control the pandemic? >> well i think it's important to look at the positives. one is that we're treating this disease much better so individuals aren't dying at the rate they were certainly from the new york outbreak that we had early on. the second is that there was a recent study that was just put out that demonstrates that the immunity one gets from the virus itself, from having the virus is lasting longer than we would have thought. now from a testing standpoint, it's always important to remind ourselves that this is a new disease and therefore we're see ing in realtime the response

to a new public health challenge , so the fact that we didn't have a test on board right away ought not be surpris ing to anybody and the fact that we're coming on board with new and newer tests and more effective tests and more efficient tests, almost every week now, is what we would expect in a normal process of public health response to a new infectious disease, so i'm excited about the new tests that are being put out there. i think that we'll have new testing that will allow us to then open up new places, whether it's schools, whether it's places of entertainment and the like, but what we need is a test where we can get the response as to whether or not somebody has an active infection in realtime. that is within minutes as opposed to hours or days. >> cheryl: you mentioned schools i want to ask you about what happened in georgia, a high school there. this photo went viral i'm sure you saw it of kids walking around together, maskless. kids think they are invincible. that's been happening since the

beginning of time. i think i thought i was when i was a kid. >> we all did. >> cheryl: but how do we reopen schools safely. if you were still in office what would you do? >> again this is a new infectious disease and you have to follow the public health guidelines that would occur for anything whether it's mumps or measles or chicken pox or anything where you wouldn't necessarily have an immunity to it and that means, social distancing is imperative, masks are imperative, hand washing is imperative. if you feel sick you ought to stay home, from a school standpoint, maybe some classes outside, maybe splitting up the day half and half, so that the entire school isn't there at one-time, possibly having individuals especially at lower grades going through the whole day with the same bubble or cohort if you will. those are the kinds of things that can make school much more, much less likely to be transmissible. >> cheryl: kids need to go back-to-school, they're missing

that interaction so much. it really is. wish we had more time. sir thank you so much for coming on please come back very soon it's great to have you on the show. >> thanks look forward to it appreciate it. >> cheryl: the dow is down 65 we're coming back, s&p and the nasdac are in record territory by the way we've got 20 minutes to go. now first it was tiktok and we chat. now alibaba? coming up we'll have a temperature check on chinese e-commerce giant alibaba plus charlie breaks it over the new york mets, who was safe, who was out, i had to say that. that's coming up on the "claman countdown." businesses are starting to bounce back.

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>> cheryl: well, after his executive order banning chinese giant bite dance and tencent from doing business with american companies, president trump indicating more chinese firms could be on his chopping block at a press conference saturday, president said he was looking at taking punitive actions against more chinese firms, possibly including alibaba and baidu. and alibaba stock dipping this morning and now it's up about 1% and baidu is up almost 6% but that's after the earnings in particular for last week. well the race against the clock for tiktok in high gear but it's another major league bid bidding battle that is sparking breaking news during this hour. we've got charlie gasparino and some really great new headlines and the fight for the mets what's going on charlie? charlie: well cheryl over the weekend, there were reports

that j lo and a-rod said they were in the lead to buy the new york mets they had apparently, the top bid, and it suggested that other potential bidders including the very deep pocketed hedge fund star steve cohen was out of it, and harris entertainment run by other hedge fund private equity executives they were out of it. here is what we know right now particularly in terms of cohen. sources close to steve cohen are telling the fox business network that he as of now, now i only say as of now because he may wake up tomorrow and change his mind there is always that theoretical possibility but what i'm hearing is he is still in the hunt to purchase the mets. he is as of now, again, i'm just hedging because that life is strange, he is 100% certain to make a second round bid and those bids are coming due augusn

it. a-rod may be in it but we should point out that steve cohen does have the capital in his back pocket to buy the new york mets. there have been reports that have not, i've looked to confirm them and deny them, or get them denied. steve cohen made $1 billion last year with deep pockets with a net worth of 15 billion total to really do this , to engage in a bidding war, although i don't think he's going to overbid for this. one of the interesting aspects of the whole mets saga as you know, you could say it's the second team in new york after the yankees, it has a storied history, as a met fan i can tell you that. its been losing money in recent years it has a lot of debt. i do know that all the bidders have access to the books and they were not impressed by them. again lots of debt, lost money

last year. i don't believe steve cohen will overpay. he bid initially 2.6 billion. that was earlier in the year. remember he pulled that back after some disagreements with the owners, the wilpon family but he's back in it now and i only hedge this because cheryl, you know, life is strange. he's 100% into this barring some change and, you know, again, i always hedge but it looks like if he really wants to buy this team, cheryl, he's got the cash. a-rod is raising money from multiple sources. jpmorgan is helping him do this. harris has indicated that they don't want to pay much more. they may go to 2 billion but not that much more. steves got the money to pay up for this. i'm not saying he will though by the way, depends on how much

pushback he gets, maybe they want 2.6 billion and he drops out but as far as i know right now, my sources are saying, he's 100% in, barring some change, and he does have the deep pockets to do it. again, second round bids august 31. they should get this thing wrap ped up some time in the fall cheryl back to you. >> cheryl: i love when you cover sports and i didn't know you were a mets fan. that's a tough fan. charlie: long, suffering, i want to give you a little insight. my old man was an original mets fan because he used to go to the old polo grounds which you probably don't know about but a couple of new yorkers watching this will and used to watch the mets who got all the old players from the brooklyn dodgers and the yankees. i believe yogi bara was the starting catcher for the new york mets when they debayed in 1962. >> cheryl: i'm rooting for you really charlie gasparino, it's great to see you, sir.

closing bell is coming up, with 52 points to the downside right now coming up next, forget big and long, the countdown closer says the key to success is shorter and smaller when it comes to bonds and stocks with ways to play it, he's coming up. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

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♪. cheryl: with just minutes to go before the closing bell looks like the nasdaq as well on its way to closing at a new record high. the s&p still just slightly below magic number is 3386. we're at 3383. we're kind of close to that new record for the s&p. e-commerce retailer overstock getting another big boost today after piper analyst gave it a overweight rating and 140-dollar price tag. it is at 118. the stock is up whopping 1500% year-to-date. brokerage firm says seismic

forces like refocusing on home furniture business has upgraded the profitability outlook. brick-and-mortar retailers with more than 20 companies reporting this week. lauren simonetti with the latest on two of the biggest names coming out tomorrow. lauren. lauren: start with walmart, cheryl. they've been a pandemic winner. it costs mon to operate safely and make delivers are. earnings fall 1.6%. revenue to rise $135.37 billion. the stock is up only 7% the past three months. compare that to the s&p retail etf that sup 40%. i want to be fair the etf includes host stocks, overstock, wayfair, also amazon. speaking of which analysts look to hear any executive comments on the rollout of walmart's subscription service to rival

amazon prime. that could provide the juice to get the stock to break out again. kohl's reports in the morning. we're expecting a loss of 83% on drop of 26% on revenue. that should be $3.09 billion. kohl's is making advances on line. that is a positive. don't discount back to school spending. it will look different this year. it will come later. kids need classroom supplies at home plus the expensive technology. cheryl? cheryl: that is good point about check. homeschool is happening this year. lauren simonetti, thank you very much. appreciate it. lauren: don't i know? cheryl: you know very well. investors have been pouring into large u.s. stocks and cash to fight pandemic uncertainty but today's "countdown" closer says that is problem. mark madsen, founder, ceo of madsen money. mark, i known you for years. i followed you for years. you're saying this move whether

into cash, big names, apple, amazon, we're making moves to large companies we're kind of making a mistake. why you do say that? >> i think the first mistake you mentioned was going to cash in itself because over the last couple months $1.5 trillion have left stocks, equity based mutual funds and bonds. people have been panicked. they have been selling going to cash. the market has been up 30% since the bottom or higher since that -- they have lost that. now they're still kind of licking their wounds wondering whether i should get back in. for those that are in, they're mostly loading up on large u.s. companies. it reminds me of '95 to 2000. the u.s. made 20% and last decade lost 10%. nasdaq, we're up 400% for five years. lost 80% in the crash. it took them years to recover.

investor are making mistakes. large u.s. stocks, nasdaq stocks and not diversifying. cheryl: that is interesting. i want to ask you a issue about the bond market. there is normally safety in bonds but dividends have been real weak. what do you say to an older investor who likes bonds? >> especially if offsets volatility in equities. investors are trying to make a mistake. dividends are so low, in an attempt to do that they're buying longer term bonds, when interest rates go up you get hammered in long term bonds. they're buying what brokers call high-yield bonds which are really junk bonds. they have extremely high default rate especially in market crashes. so they don't do a very good job offsetting the risk involved in equities. they're not very good diversifiers. for investors with fixed income, short, high quality, diversify the equities globally. you will have fixed income to

rebalance on equities when you're down. cheryl: global thing is interesting. the pandemic is been global. europe, for example that have been hit hard. is there a part of the world you like more than others? >> not really. no one can predict which asset category, which country will be superior. what i would say, if you're going to diversify internationally don't just diversify in europe or asia. you also want to look at emerging markets. a lot of countries other people don't have, malasia, egypt, thailand, some countries can be great diversifiers long term and relative to the u.s. market they're actually depressed. therefore they make actual opportunities to rebalance selling excess in the u.s. and buying emerging markets. very few investors want to analyze portfolios today have any emerging markets at all. cheryl: i hear you. mark madsen, good to see you. i like the new haircut.

mark matson. we have a new record for the nasdaq. [closing bell rings] s&p looks like we'll fall a few points short. the nasdaq at the 33rd record of the year. 159 records under the president. here we go with a nasdaq making a record. i will be here tomorrow for "the claman countdown." melissa: on the ground in the midwest, president trump touting the economic recovery in minnesota. nasdaq closes at a new record high, its 33rd close of the year. s&p will close just below record territory here. the dow kicking off the week slightly in the red. i'm melissa francis this is "after the bell." here is connell mcshane. connell: good to see you again, melissa. i'm reporting live today from racine, wisconsin. a beautiful place. you see lake michigan behind me. we're 40 miles to the south of milwaukee, on the very day that the democratic convention kicks