we will be watching them and bring you back to talk about it some more. buddy, appreciate it. thank you very much. we are still grinding it away here as i hand it over to my colleague liz claman. nasdaq and s&p looking pretty good. the dow ironically held back by the names getting kicked out. they are already down. the ones getting in, they are not in yet. the stocks are up. go figure. liz: charles, exxonmobil. that was a little bit of a thing last night when i saw that. i said i'm going to get on my -- [ speaking simultaneously ] liz: just crazy, right? you know what, it's not just looking good for the s&p and nasdaq, though. don't undersell it here. we are at session highs but we begin with a fox business alert to start the hour. in a very unusual move, oil stocks are actually sliding even as the gulf coast braces for impact. valero, phillips 66 and exxonmobil just hours ago started shutting down all their refineries that are in the texas

region. beaumont and the whole area. as hurricane laura's wrath unwinds right on top with more than 82% of gulf oil operations now offline. we now know where the powerful storm is headed and what it could mean for prices at the pump. by the way, exxonmobil, part of the reason stocks are see-sawing as the dow stares down one of its most epic shakeups ever. our floor show traders ready with their blue chip fantasy picks. with everybody wearing sweats and pajamas at home, why is luxury consignment site the real real jumping 35% quarter to date? the ceo is here in a "countdown" exclusive on the hermes effect. the top-selling luxury product being used for a high end face mask hack and the happy face it's putting on shares of her e-commerce titan. plus covid test results under 15 minutes? why you may want to go to the airport for your next covid test. how and where the company is pulling that off.

less than an hour to the closing bell, let's start "the claman countdown." liz: retailers popping and dropping at this hour. the gap is getting a burst of energy courtesy of its popular athleta brand. citigroup just raised it to a buy. it's at $16.97 a share. citi doing this after estimating that the athleisure outfit could be worth $3.6 billion on its own or in some type of sale. that's more than half of the gap inc.'s current overall value of $6.5 billion. with shares of gap up 9.5% right now, gap is the top performer on the s&p as we head into this final hour of trade. on the flipside, best buy's actually the biggest laggard.

looks like it's being punished for post-earnings honesty. despite crushing numbers in the lockdown quarter, the electronics retailer warning don't expect the same for the current quarter. pandemic related unemployment, less stimulus and product shortages could take some of the electric charge out of q3 and it's taking some of the charge out of best buy shares which are down 4.2%. starbucks spicing it up in this final hour. steeple going bullish on the java giant due to the new curbside pickup options and other initiatives. although it wasn't cited by analysts, i have to think that starbucks' early jump on pumpkin spice season has something to do with the jump we are seeing in the stock right now, up 4.7% to $82.38. yesterday at this hour we were playing this game of hot or not for millenial stocks. right now, we should tell you that directly after the show, in a surprise announcement, s&p dow jones indices, this is the company that oversees both indexes, pulled off its own

version of hot or not for the dow. they booted exxonmobil, which yes, has been listed on the dow in some form or another since 1928, and slid salesforce in its place. honeywell international now in while defense contractor raytheon is out. then the s&p dow jones replaced pfizer with biotech amgen. even though the changes don't take effect until august 31st, you can see just what an invite into the dow club is doing. you've got the newbies all moving higher with salesforce jumping 4.25%, honeywell better than 3.5%. while those call it invited to leave are all moving lower. let us get to the floor show traders. tom, you are a nyse trader. if you own the newly invited names you are thrilled but if you own exxonmobil, pfizer, raytheon, blame apple because its four-to-one stock split affected these moves, correct?

>> that's correct. liz, the four-to-one split was going to take the tech weighting of the dow jones industrial average from 27.6% down to 20.73% so they had to find a tech stock to fill that gap, because it's a price weighted index. the thing about the dow jones industrial average, it's more symbolic. this is what main street looks to for confidence and for the health of blue chip companies. the majority of assets under management are indexed to the s&p 500 so while it's symbolic, they did choose salesforce. you said as far as your dream stocks for the floor traders, i don't know if i would have chosen salesforce per se. it's a bit smaller. it's not quite a blue chip stock at $185 million market cap. i might have looked to something more like facebook which is $750 billion market cap and is also growing at a fast clip.

liz: why do you think they didn't pick facebook? this is interesting to me. >> they actually didn't pick facebook because of control issues. mark zuckerberg owns too much of the voting stock and it was the same issue with berkshire hathaway which would have been my second favorite choice for one of the replacements. warren buffett owns too much of that stock as well. they had to choose salesforce and amgen and honeywell because they had disbursed ownership. liz: phil, give me your ideas of what you would have thought they would switch out and you as a long-time trader, this shift of three in, three out, i think it came as a surprise to a lot of investors. >> it really did. the dow is one of the stalwarts. you don't see many changes. i'm still shocked general electric got kicked out, right? that's been there since the beginning. you're kicking out all the original members out of this club here and it's amazing. i feel bad for exxonmobil.

did that mean big oil [ inaudible ]? we can't call them big oil if they can't stay in the dow jones average, for heaven's sake. if we had to kick one out and put one in, i would have said intel, you're out of here. i think they have been very disappointing in a way they are buying back their own stock, i don't think they are being very inventive in this new world and i would replace it with broadcom, which is better reflective of the new world we are living in because it covers everything. it covers gaming, artificial intelligence, and data. i think that would be more reflective of what's going on for the overall blue chip space. intel i think is not as reflective as it used to be. it definitely used to be when everyone was buying their pcs and that was a real barometer of what was going on in the economy, i think that changes a lot and i think broadcom's a better pick for that. liz: although it used to be

ivago and there are ownership issues there we talked about in the past. in this very political and heightened sensitivity era, they are looking at everything before they add anything or take them away from the dow. phil, tom, great to have you. thank you so much. check of the s&p, a record here. we are very close to session highs. same with the nasdaq. it's night two, speaking of politics, of the republican national convention, set to kick off this evening. tonight's headliner, first lady melania trump, who is expected to speak a little after 10:30 p.m. eastern time. and also on the schedule, secretary of state mike pompeo, kentucky republican senator rand paul and covington high school student nicholas stanton. he sued "the washington post" after being portrayed as the instigator of this viral 2019 confrontation in washington, d.c. to hillary vaughn live from lafayette square in d.c. hillary, the focus of tonight, what do you expect it will be? what are you hearing?

reporter: we are expecting to hear a lot about the economy. that's because when you look at the lineup of speakers tonight, a lot of them are going to speak on those economic issues but last night, the main takeaway from republicans speaking at the convention to voters, your safety and also your wallet is on the ballot. >> now joe biden wants to come for your pocketbooks. that's one of their solutions for the pandemic. they want to take more money from your pocket. >> he's already talking about shutting the country down again. reporter: tonight's lineup, senator rand paul, a budget hawk and fierce advocate for fiscal responsibility. tonight, he's probably going to mention the more than $6 trillion in new federal spending the democratic nominee joe biden wants to spend. we are also going to hear from white house economic adviser larry kudlow, who is likely going to bat for president trump over how he's handled this economic crisis that has been triggered by the pandemic. we heard some of that when he

told our stuart varney this morning that the downturn had nothing to do with their policies leading up to this pandemic and also presented an optimistic outlook for jobs and businesses. the biden campaign is offering their rebuttal today, saying the economy was great because of obama/biden and it's not now because of trump, not the pandemic. >> we heard about the great economy that donald trump inherited from barack obama and joe biden, but not a morsel of regret for how trump's failed leadership has squandered it, starting even before covid hit. reporter: secretary of state mike pompeo will also deliver his remarks from jerusalem and first lady melania trump will speak from the newly refreshed rose garden. those two speeches happening while accusations are swirling about whether or not they violate the hatch act by spending taxpayer money to hold those campaign events but liz, the white house has pushed back on that, flatly saying look, any expenditures whether it's at the white house or pompeo's speech in jerusalem, are going to be

covered by the campaign and by the republican party, not by taxpayers. liz? liz: okay. good to know. hillary, thank you so much. hillary vaughn. with the closing bell ringing in 50 minutes, here's a question for you. is amazon ready to go luxe? women's wear daily sees the e-commerce behemoth will launch a luxury platform with dozens of high end label mini shops next month. but are consumers over it? are they even ready to pay any more full price for dior, gucci and the current economic climate? next, the founder of the realreal is here in a fox business exclusive. wait until you see how the stock has performed. "the claman countdown" is coming right back. crude oil now moving slightly higher in the aftermarket session. businesses are starting to bounce back.

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liz: all right. welcome back. dow is still down about 88, but we're at records for the s&p and nasdaq. while reports say that sweats and pajamas are the de facto business suit for those working at home, let's keep it real. or should we say realreal. it's up 36% quarter to date

versus, for example, we thought we would compare them to burberry which is down 8%. today, the realreal released its latest resale report and the findings show consumers still adore their luxury goodies even in the midst of the pandemic, but in a different form. what happens if amazon enters the space, which there is a report they will. in a fox business exclusive, the realreal founder and ceo julie wainwright, who started this company years ago at her kitchen table, joins us here. thank you so much for being here. you know, your stock is very strong both quarter to date and month to date. to what do you attribute that? are people kind of getting over the sweatpants issue during zoom meetings trend? >> well, look, our stock is a reflection more on our business and other dynamics but we did have a rough patch. our business, we had to close our operations that are in california, social unrest further added stress to the business, but in july, we started coming back.

very exciting time. and we see growth in front of us. but i have to say, our demand never faltered. it was more of our ability to process goods. on that level, we are on the upswing again. liz: are you hiring people back? specifically numbers, i'm very interested to know that, because i know as you said, you had to lay people off, as many companies did. >> yeah, it was actually horrible to lay people off and furlough. we furloughed about 400 people and brought almost all of them back. most of them were tied into our luxury consignment offices or retail stores. the retail stores are slowly coming back. l.a. and the two in new york and san francisco which opened only two days before we had to shut it down. even san francisco's coming back and we are [ inaudible ] retail. in fact, we are going ahead with our store opening in chicago. liz: that's good to hear.

okay. brick and mortar, chicago. is there a date for the opening of that? >> it will be sometime in q4. liz: sometime in q4. how much of the gains that you believe you're seeing when it comes to people and the demand that they have for luxe items that are gently used and checked by so many of your experts that you have, which makes them authentic and authenticated, how much do you think that had to do with the stimulus checks? >> well, we are a little different. i think -- it's hard to know. i read studies that said that some people say 50% of their volume were due to the stimulus checks. i would say we're not really swayed that much. maybe in the sneaker market, i have heard sneakers were really swayed by stimulus, but stimulus checks are now gone. what we're seeing is increasing demand. so just on the surface, it's hard to tell but on the surface i would say we weren't.

liz: talk to me about this prospect, if you will, that amazon wants to enter the luxe space with these mini stores on its site, where sellers can actually control the prices, but that amazon will have the heft of its supply chain behind it and its ability to deliver in realtime or rather, you know, same day almost delivery. do you look at them as a threat, because any industry that sees amazon entering gets a little nervous. >> not at all. look, first of all, i don't know who signed up but people have a different definition of luxury. the top luxury brands [ inaudible ]. having said that, the contemporary brands need a lot of help. so if it spurs their growth and helps them in this difficult time, i think it's great for them. the resale market has always had a different rhythm than the primary market but clearly, we need the primary market to succeed in order for us to have a secondary market. so i really do hope it is most

focused on high end contemporary and they need help and we support that. liz: i understand that there has been one very hot seller during the pandemic and it is sort of a hack for face masks. >> right. in fact, that caught us off guard but hermes scarves have flown off the shelves. we can't get enough of them. people have been wearing scarves and face masks as soon as it became mandatory. it's a great fashion statement. they are doing phenomenally well. liz: well, you know, look what i have. i have, i have looked on the site, on a site, on how to do this. this is my hermes scarf as a face mask. they have explained the hack. i don't want to get lipstick on this thing. that's why i put, yeah, i put the tissue in there.

but there's a way to describe it but here it is. my hermes matching face mask. it's fascinating to see that listen, there are silver linings to this pandemic. julie, good luck to you. we will be watching and we will be watching the stock which as we mentioned to our viewers, is up 35%, 36% quarter to date. thanks, julie. >> thanks so much. stay safe. liz: you, too. closing bell, we have about 40 minutes left and we do continue to see a gain for the s&p, a gain for the nasdaq, but yeah, dow is faltering, down about 81 points. speaking of the faltering, as the wildfires continue to rage across northern california, people are left with nowhere to stay but airbnb which is expected to go public soon, now offering free housing to those who have been displaced under its open homes effort. the home sharing rental site is asking hosts to offer a space in their homes. those in need can book a free room between august 20th through

september 10th. we will bring you the very latest on the fires but also, we are about to show you the exact radar path of hurricane laura and the punch it could hit on the southern coast of texas. that's next "the claman countdown."

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liz: breaking news. we want you to turn your attention to the screen here. you're looking at the radar of hurricane laura barreling toward the gulf states. she is gaining strength as she moves. laura is expected to hit both texas and louisiana between tomorrow night and thursday morning as a now category 3 hurricane when it hits, bringing winds as high as 129 miles per hour. as -- when it was a tropical storm, rather, laura killed at least nine people in the caribbean. offshore oil production in the gulf of mexico has been cut by

82%, just below the 90% production cut that we saw 15 years ago when hurricane katrina struck. 310 oil and gas facilities in the gulf of mexico have been evacuated. 16 drilling rigs have simply outright been moved. crude gasoline seeing the highest prices since early march. crude jumping 1.7% right now to $43.36. the hurricane is also having an impact at the pump. gasoline prices are up two cents, two cents a gallon compared to just one week ago. hurricane laura not the only natural disaster the u.s. is facing right now. let's turn west. northern california's wildfires are still raging. firefighting crews pouring into the san francisco bay area right now as more than 200,000 people have been told to leave their homes. california fire says more than

1.5 million acres have been burned and over 1700 structures have been damaged or outright destroyed. seven people have been killed. let's take a look at natural gas. nat gas is sitting at $2.48 per million british thermal units as many local governments have no other choice but to enforce blackouts, cut the electricity. the state is running low on its backup energy supply as the wildfires are cutting off their natural energy sources of wind and solar. let's go live to solano county, california, where claudia cowan is watching the action and the developments. claudia? reporter: well, better news to report from the fire front. fire crews now have double digit containment on the three massive wildfires burning around the bay area, but that is cold comfort to property owners who have lost everything including the couple who lived right here for many, many years, ken and marci.

they say their three-story home burned to the ground in a matter of minutes and they barely escaped with their two dogs. they say they lost hundreds of cherished items acquired over their lifetimes including a priceless collection of 16 classic cars housed in a special garage just down the hill. the walls are still standing but the heat from the fire melted everything inside. >> '56 chevy nomad. '57 corvette. 1988 corvette, 35th anniversary. '41 chevy coupe street rod. over there is a 1991 corvette zr-1. reporter: even more tragic, he says one of his neighbors perished in the fire. among the seven killed in these massive infernos. the governor says taken together, all the fires in california have burned an area the size of the grand canyon. but better weather is giving firefighters a break and allowing for a massive air

assault. yesterday, crews fighting in santa cruz were able to drop 200,000 gallons of water to slow the spread of that fire. calmer winds and slightly cooler temperatures in the forecast once again today. even so, officials say some of these massive fires could burn into october. back to you. liz: oh, no. claudia, thank you very much. keep us posted. live from california. the closing bell ringing in 31 minutes. you guys, the nasdaq literally just seconds ago notched a new all-time high, never before seen. we are up 79 points. if we close at a new record, that will be the 38th record of the year for the nasdaq. the s&p's on track for its 17th record. you've got to stay with me in these next 29 minutes. we also have new home sales surging to the highest level in 13 and a half years. home prices hitting record levels as well.

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liz: new housing data painting a full-on monet of the market during the ongoing pandemic. the case shiller 20-city home price index jumping 3.5% year over year just in the month of june. then we've got new home sales. it was a very big beat in the month of july. new home sales, the highest since december of 2006 but here's the question. does that foreshadow depressed consumer confidence for august, you know, this after fannie mae

showed home purchase sentiment is drying up in july and those forbearances, that means you can't quite make your mortgage payments, are down for a second week in a row to a low not seen since mid-april. the mortgage bankers association reports that exits out of forbearance are also slowing. are we watching a real-time icing out of what had been a red-hot housing market? we try and be ahead of that soccer ball. not where it is at the moment. we thought let's bring in sheryl palmer, the ceo of taylor morrison homes, a market cap of $3 billion plus. what do you think? we have an analyst out there from auction.com basically saying that the housing market is feeding off a sugar high. you've got very low interest rates. you have extraordinarily low inventory and almost a panic where people want to get out of very hot and cramped cities and into more space where their kids can do online school, et cetera. what do you think? what's your reaction to this sugar high accusation?

>> i don't think i would call it a sugar high, liz. first, thank you for having me today. i think to properly answer that, you almost have to look back pre-covid. when we came into 2020, what was the macro market looking like. we came into the year with a very very strong pulse and for a number of the reasons you mentioned, we had very low inventory. arguably you would say's the even lower today. we had low interest rates, much lower today. we are at historic lows. the demographics that were really feeding the activity are still very much in our favor. if you think about the 80 million boomers, the 80 million millenials and those millenials just getting to that age where home ownership is really part of their kind of their life plan, those things are still very much with us. people have continued to do well with their homes and i think we have seen new wealth creation

but you're right, there are some head winds and we certainly have seen jobs that aren't working in our favor. i think what we have is a continuation of what we saw earlier in the year with some new factors that have been included and you named a really important one, as people lived at home through these covid times. they began to recognize what was important in their relationship with their home and i think that only aided to the success we have seen. liz: well, let's not ignore, though, the fact that they in many cases ended a relationship with their job because they have been laid off or fired during the lockdown and we still have more than 30 million people who are collecting unemployment. at the moment, there is a desperation. that leads me to ask, a, what are you seeing when you have buyers come in, are there bidding wars, do you have enough inventory, what are you doing to make sure that you can reach that demand, and on top of

everything else, are you getting the sense these people can actually pay? because with the original $2 trillion covid stimulus, they were able to at least promise i believe that, you know, you had 12 months possible of forbearance that was allowed. >> yeah. you bring up some very important points. let me try to address them individually. you know, first of all, we had some consumers that are coming in the front door. the consumer is much more educated today, because they are spending a great deal of time doing their research virtually. we introduced some virtual tools earlier in the year with covid that have made it really easy for the consumer to understand what the opportunities are. so they are spending a lot of time on the website, really understanding the inventory. about half of our sales, i would say, are speculative inventory and the other half, which i think is really important, are people that are building the house of their dreams.

they are coming in and selecting their lots, selecting the floor plan, putting all the specifications they want in the home, and they are waiting anywhere from five to ten months depending on where we are in the country. so these folks definitely know what they want and they can afford to do it. the unemployment numbers are difficult. there's no escaping that. it's hard to sit here and say the folks today that have found themselves out of work are not necessarily homeowners, a lot of service industry, but any number is too large. so the affordability is something we have to be very mindful of. make sure we keep the inventory right priced but as you said, inventory's very very low and cost of goods are also going up slightly so you are trying to balance all of those activities at one time. liz: sheryl, thanks for clarifying and giving us your perspective on the ground. i can imagine there's great

demand for midpriced and lower priced houses because at this point, people need the space. good to see you. good luck. thank you so much. we do have at the moment the closing bell ringing in 20 minutes. look at that nasdaq, up 88 points and counting. do you guys remember that scene in "star wars" when the millenial falcon hit and went slamming into hyperspeed? yeah. light speed? well, that's what xpresspa says it has just done when it comes to covid-19 test results. it has shattered the under 15 minute wait time for the covid test results. where are they doing it, how are they doing it and yes, what is it doing for the company and the stock. the ceo joins us next in a fox business exclusive. i had saved up some money

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liz: covid testing taking flight at new york city airports. a new directive from governor andrew cuomo is sparking the port authority and new york city hospitals to work to set up covid-19 test sites at the airports in the new york area. the tests will reportedly be free of charge but are not mandatory. now, the governor is hoping the testing will work hand-in-hand with new york state's mandatory two-week quarantine that is currently in place for travelers from nearly 30 states to keep the deadly pathogen from making a resurgence here in new york. but one company way ahead of the governor. not only performing covid tests at jfk and new jersey's newark liberty international, but is now offering a hyper-rapid test that can get results in under 15

minutes. joining me now in a fox business exclusive, xpresspa ceo. it's the place where i get foot massages while waiting for my flight. you guys morphed into testing pretty soon after the lockdowns which is just a smart business move. but under 15 minutes, this news broke yesterday, tell us how you're doing it and tell us when we can all be getting this at airports. >> thank you very much for having me back, liz. your team is very quick in staying current with our latest announcements or many of them. one of them is we just signed a deal with abbott laboratories for 100 of their id now machines and that will enable us in airports to bring our current test times from two to three days down to less than 15 minutes. we will be deploying this next month and it's a big breakthrough for travelers and airport employees alike who may

not have the luxury of time. liz: nobody has the luxury of time anymore, as far as i'm concerned. let me get some details here. i know that the last time we spoke, it was just for first responders, for medical professionals, because you were working on this beta of it. now you are able at least two weeks ago to offer it to actual travelers who are landing from these states that governor cuomo says you got to quarantine for 14 days. what happens if i get a negative test result just off the plane? does that test me out? does that get me out of the 14-day quarantine? >> well, in some states, it does, in some states it doesn't. that's not the case in new york or new jersey or connecticut yet. but we're lobbying to reconsider that position. there are some countries now that are requiring clean covid tests. the pcr molecular test we will be offering before you are admitted into the country so it

goes both ways with travelers. some exiting and some incoming. liz: which airports and which states right now at least that you can reveal do say that if you test negative, you can test out of the quarantine? >> massachusetts is one example where the governor has taken the position if you arrive into massachusetts, and you have a clean test, you can reduce your quarantine. liz: your stock has done incredibly well year to date. it's up 73%. but there's a lot further to go here. how much is the charge for the test for the average traveler coming in and will you be able to at least recoup some of the revenue you have lost during these past couple of months with very few travelers? >> so the economic model is a bit different than what we have historically run with our legacy business. it's one based on a visit from a doctor with our patient and sending the testing through.

we accept all major insurances and because we are at the airport, we are dealing with employees who generally have insurance and when we started in jfk, our pilot, which worked really well, we then expanded from the employees to the travelers where we have now accepted payments if it's an international traveler that doesn't have insurance. so we are able to monetize that and build our revenue. right now, after a successful launch in jfk, we just opened in newark last week, literally. we have a pipeline full of other locations and as these build, remember, we had 50 locations at 25 airports that we closed of our legacy business but this should start taking the place of some of that revenue into the fall and next year, and we may reopen our spas again or it depends on airport traffic coming up. right now we are focused on the greatest and highest need which is covid testing in airports. liz: do i have to be a passenger? do i have to go through security, or can i just go?

because i can tell you, i have spoken to ceos who said liz, i went to city md in the city, sometimes i get a result in six days. i had one guy who was telling me he was waiting 13, 14 days for just the results of the test and nobody can get a real reason as to why. we are not across the board at sub-15 minutes like you guys can offer. >> yeah. so our first two locations are presecurity so you don't need to be a ticketed passenger to be admitted. but i would encourage you to check with the port authority to see what the policies are for admitting ticketed passengers or not. some of the airports are starting to change that so it depends airport by airport. but there's two ways to come in and get our testing. today, again, we send it out by labs but soon we will be doing that lab work on site. and you can either get an appointment which is much more convenient for people, you go to xpress check.com and sign up or we take walk-ins.

liz: good stuff. good stuff. partnering with abbott labs for the equipment. we will be watching the expansion to 60 medium to large airport hubs in the coming months. good luck. thanks, doug. we appreciate it. doug satzman. >> thank you very much. liz: "the claman countdown" is coming right back. we have the s&p up 10. that's a record. we have the nasdaq and that's a record right now. up 80 points. we'll be right back. don't go away.

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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. ♪ liz: elon musk at it again. he is teasing a major battery breakthrough, sparking some speculation ahead of tesla's battery day event planned for september 22nd. to the fox business newsroom. this is classic elon. he dangles a clue. what do you we think it is, what

do we know? cheryl: he is suggesting that the carmaker can produce batteries with 50% more density in the next four years, even electric airplanes. there is a big speculation ahead of battery day. it is based on the tweet. here is what he wrote on twitter. basically 400 whkg, we all know that what means. high cycle life probably three to four years. based on the numbers in the tweet he could announce a 50% jump from the current energy density, longer driving range on single charge. he said for electric airplanes to work the energy denty of the batteries has to improve over 400 wh/kg. he does not disappoint on these days as you know. back to you. liz: i just want to see, want to

see him do that walk like an egyptian dance he did that one time. cheryl, thank you very much indeed. to the nasdaq a few minutes left before the close, the tech dominated index about to rack up the fourth record close in a row. s&p on track for the third record. the dow is paring some of its losses but still down 79 points. unable to shake off the drama on the coming surrounding changes. as hurricane laura takes aim at the gulf. it is the fact that exxon got booted or will get booted from the dow. from mother nature to 2020 elections, uncertainty, man-made uncertainty rocking the nation but do's "countdown" closer has the stock picks that will make your portfolio more secure. ync manages more than a billion in assets. president and ceo, brian yacktman joins us now. how can you make me feel more

secure? we have some headlines, brian, tell me what you feel needs to be added to a port for that security? >> we like the two largest insurance brokerage firms, aon, marsh mac. we view them all weather stocks regardless of the outcome you pick. they seem to be fairly robust. we view them as global champions have pricing power and long runway for growth because they act as a toll taker for global insurance gdp. liz: mother nature, trauma aside, businesses shuttered are filing file lawsuits by droves, saying you have to cover this. they say it wasn't in the fine print. are you worried that may affect the bottom line of these names? >> these are just insurance brokerage firms. they are not insuring anything. they're acting as middleman, the broker that clips, take as percentage of the earning,

insurance activity. as long as you believe there will be insurance activity in the world, it is mission critical with business going on, then these guys due to their pricing power that comes from basically their relationships, their networks across the globe with these fortune 500 companies and all the various complex insurance needs they help solve, that acting as a toll taker because insurance essentially maintains its share of gdp. they clip a coupon on top of that insurance activity. liz: you know, i just quickly need to know your thought on the markets. we have the fed beginning the jackson hole big meeting. it will be virtual this year. the fed has said they will be in it to do what it takes to the keep the markets and financials of this country moving pretty smoothly but are you worried about toppiness here? >> sure. i feel like a meteorologist tracking the gulf storms.

this storm feels like peace and calm before the storm, you know but i guess the way that we view it with these guys, regardless if you have inflation, deflation, interest rates rising or black swan event you've should be holding up well. [closing bell rings] liz: thank you very much, brian yacktman. a win for s&p -- melissa: keeping the winning streak alive. new all-time highs on wall street as the s&p and nasdaq close at record levels. whoo-hoo. it is the third straight record close for the s&p, the fourth for the nasdaq. i'm fancy. hey, ashley. ashley: melissa, i'm ashley webster in for connell mcshane. this is just "after the bell." the dow today though being dragged down by apple. the tech giant snapping a five day record streak ahead of its four for one stock split on friday. we have fox business team