big lots. we added big lots to our portfolio. you look at the options market, the expected move in the stock, they report tomorrow, is about 5.5. we could see a nice 10% pop on the stock tomorrow. if you are looking to get in a name with long term growth but short term upside, i like big lots. it's a bet on the u.s. consumer. my money is on the u.s. consumer, charles. charles: i got to tell you something, they had a big pop last time they posted. david, love it. you gave us three ideas that can move short-term. we will talk about it next week when we bring you back. meanwhile, folks, we are trying to trend back up. the market see-sawing back and forth. the upward bias is there except the mix has changed. liz claman, the dow is leading the way today. liz: i know. finally. what an interesting trend this week. yes, major market milestones are about to be shattered after federal reserve chair jerome powell shape shifts the fed's inflation target, which could leave rates lower and longer.

the dow now positive for the year as the s&p and the nasdaq close in on all-time highs yet again. is a deal to buy tiktok hours away? as we reported here first, microsoft ceo speeding fastest toward the social media prize. now it's confirmed walmart has bet on microsoft's horse to nudge it across the finish line. the analyst who says a deal has been sealed and is down to the wire in a fox business exclusive. dan ives of wedbush, only here coming up. hurricane laura leaves destruction in her wake as the energy world scrambles at this hour to restore power and get natural gas and oil operations back online. we are going to take you straight to lake charles, louisiana, where the eye went right over for a look at the on-the-ground damage. and the boycotts spreading at this hour from sport to sport as america's top athletes protest racial injustice.

the ceo of the company whose name is on the bucks' home arena is with us live on hoops, protests and what big business can do and what he's doing to fight racism. less than an hour to the closing bell on a rockin' hour. let's start "the claman countdown." liz: folks, normally we would say keep your eye on the nasdaq or the s&p. all three of them charging ahead. here is a fox business alert. a profit surprise is leading our pop stocks. abercrombie & fitch back in fashion, down more than 29% year to date, hitting an 11-week high intraday after reporting a 56% digital sales surge in the second quarter, driven by demand for, you guessed it, lockdown loungewear. shares up as much as 18.6% earlier, pared back but up 7.8%. i got to have you look at beyond

meat. it is doing the quote, impossible. the faux meat maker going digital, offering its plant-based alternatives including its beyond beef and sausage patties directly to vegan shoppers online. the stock is up 6.33% right now. the move comes three months after rival impossible foods entered the direct-to-consumer market. a beneficiary of the pandemic food stockpiling, yeah, that's been the name here. right now, we are looking at $133.42 a share for beyond. it's added to a 66% gain since january 1st. abbott labs, we have be talking all week about abbott. it's jockeying for the s&p top spot at this hour. the stock spiking 8.5% after the fda green-lit the diagnostics giant's 15-minute rapid covid test that only costs $5. the trump administration also announces it will purchase $750 million worth of abbott's rapid tests and shares are lhitting a

all-time high. we stand at $111.85 as our intraday picture shows. rival covid-19 testers are going negative on the news of abbott's speedier and less invasive nasal swab test. co-diagnostics down as we head into the close. again, check the dow up 263 points. what happened? well, the markets are bouncing on history that happened at the federal reserve earlier today. we saw a surprise policy shift from the fed which will now, here's the shift, will now adopt an average, not a straight, but an average inflation target rate of 2%. that caused markets to spike shortly after the opening bell. chairman jerome powell outlined the changes to monetary policy strategy during a virtual gathering of the annual jackson hole symposium. here's what he said. >> we will seek to achieve inflation that averages 2% over

time. therefore, following periods when inflation has fallen below 2%, appropriate monetary policy will likely aim to achieve inflation moderately above 2% for some time. liz: okay. we are going to explain the fed-speak. it was at that point that the markets began to spike. what will this policy shift really mean for supporting the overall labor market, broader economy and much more? perhaps your investments? we bring in our experts. andy brenner, nat alliance securities fixed income head and phil flynn from the cme. andy, please give our viewers the fed-speak translated into regular speak. why does the average of 2% inflation thrill these markets so much versus a hard 2%? >> well, we have a lot of things going on right now, weaker dollar, we have the pandemic going on. you are seeing costs start to rise a little bit. what the fed is telling you, even if you get inflation at 2%, even 2.25%, even 2.5%, they are

not going to raise short-term rates. however, the long part of the market does not like this. we are seeing the ten-year go down dramatically and the long bond all the way down to 1.50 right now. that's going to continue which is why your banks are doing better because your yield curve is stiffening up dramatically. i think we listen to kaplan later this morning who tried to explain it further and you know, he said well, if it gets to 2.25%, i might start to be concerned. liz, the fed's in a box. they can't raise rates. they can't raise rates if inflation is 3% because they have already said they are not going to raise until the end of december 22 at the earliest, and how can they raise with unemployment 8%, 9%, 10%, 11%? long range, they are going to go much higher and the yield curve is going to go much steeper. liz: yes. specifically, this jumped out at me as i was watching powell's speak. downward risks to employment

have increased. assessments of the u.s. economic potential have declined. that normally, you would say would not be good for the markets but phil flynn, boy, did the markets just shoot higher as soon as he began saying specifically you know what, we will have a wiggle room both to the upside and the downside and we will still keep rates, meaning free money, incredibly low, 0 to .25%. >> it makes you wonder, this is really a historic day. you can call this the powell doctrine because this is a total change of what the federal reserve supposedly has stood for for the last 35, 40 years, to fight inflation. they are basically pulling back and saying we have bigger issues than inflation. in fact, we want to see inflation. we are concerned about a more deflationary environment, people getting locked into this for a long time. this is a historic shift. i agree, it is going to change the yield curve a little bit.

we have already seen that. you would think with the fed saying they want inflation, gold would have gone straight up. well, they initially did, but then reversed because back end of the yield curve started to go back up. it is a real big change for the fed. liz: anybody worried here about things getting extraordinarily buoyant, shall we say? listen, i love our bulls as much as i love our bears, but at the moment, we are looking at record after record, so andy, give me a sense of what concerns you might have, but also, why this is a positive. >> well, this is a positive because it keeps the fed from raising rates any time soon. it's also a positive in that if and when the economy does return to normal levels and unemployment goes down to 5%, 4%, 3%, whatever the number is, the fed's not going to raise rates just because of that. the negative is, the equity markets are too high, in my opinion, and i think we are going into the worst month of the 12 months of the year, september starts next week.

so i'm a little bit concerned that equities have gone a little bit too high and they are factoring in long-term rates at very low levels and i'm not sure you are going to see that, because if inflation comes back which i think it is, you are going to see the bond vigilantes come out fiercely. i wouldn't be surprised to see ten-years back at 90 basis points to 1% in the very near term. >> right. liz: quickly, phil, go ahead. >> i was just going to say, we might as well buy the book printers because they will have to throw out all the economics books and start over again. liz: rip out the pages. all right, folks. dow is up 270. we are positive for the year. all we need is a gain of 206 points to have brought the dow to that and here we are, well above it. andy, phil, as always, our thanks.

by the way, folks, tomorrow in a "countdown" exclusive, we have one of the federal open market committee members who voted for this major policy change. philly fed president patrick harker sits down with edward lawrence, 3:00 p.m. eastern. please do not miss that. now we have to talk about the lurk. aft after the category 4 hurricane smacked into texas and louisiana, with more than nine feet of storm surge, laura has been downgraded to a tropical storm but is still wreaking havoc as more than 700,000 people are still without power. u.s. energy firms now able to get on the ground and assess the damage to more than 300 offshore platforms and drilling rigs in the gulf of mexico, on the water, so to speak. national weather service officials say the remnants of laura could cause tornadoes and flash flooding in parts of arkansas and tennessee. to jeff flock, who is in the area, lake charles, louisiana, where the eye of the storm

rolled right over. jeff, what can you show our viewers and tell us about last night? reporter: we took a dead-on hit in lake charles. you talked about the power down. that's everywhere. what you see there, that's everywhere. power poles down, lines pulled down by trees. something i want to show you now, this happened over here, you know, the trees have come down almost every block has trees down. they got a report of a fire back behind that one but they can't get the fire engine through because the trees are blocking it. so they are waiting on some guys to come out with chainsaws. there haven't been a lot of chainsaws out here. we hope by maybe tomorrow we start to get something happening here. right now, everywhere, we see trees down. police have been good about trying to help people get through and all the rest, but a lot of the trees are down on actual homes. if you look at that one over there, it's a heck of a picture, isn't it? four deaths so far reported here

in louisiana. all of them as a result of trees falling on houses and killing the folks. everywhere you look, it happens. and the power of it, look at this over here. it snapped off, 150 mile an hour winds, no surprise the trees would snap off that way. but that's what you see everywhere. this isn't a one-off. this is everywhere you look in the town of lake charles. it's going to take awhile to get this one back to normal. liz: jeff, that really underscores exactly what we are talking about. so many people without electricity in the heat of the summer. we are wishing everybody the best. thank you so much. we have the closing bell ringing in 59 minutes. up next, president trump just left fema after getting the latest from the agency on the storm damage, but no doubt he is now zeroing in on his focus of tonight. he is hours away from delivering his speech at the republican national convention. what's he going to say?

and will he mention china, because as you know, the ban on tiktok is coming and he wants that ban. we are about to tell you what he plans to say. we are taking you live to d.c. when "the claman countdown" comes back.

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liz: on this final night of the republican national convention, president trump is just hours away from formally accepting his renomination. the president expected to argue that america's never had a clearer choice between two visions and agendas seeking to define former vice president joe biden's candidacy as extreme. to hillary vaughn in d.c. plaza for more on the president's speech from the white house tonight. what are we hearing? reporter: preparations are under way turning the white house south lawn into an outdoor theater where the president will give his acceptance speech, officially accepting the nomination from his party for president. he's going to make the case that the american people should renew his contract for another four years, looking at what he has done on the economy and putting that in contrast with what a potential president biden would do for the economy. there will be a live audience as republican law makers and also a fireworks show over the

washington monument. this happening while the country is grappling with a number of crises from the pandemic that forced this to happen at the white house in the first place and also while hurricane laura bears down on the south. we are getting a sneak peek, though, about what the president will say tonight. he will say this. we have spent the last four years reversing the damage joe biden inflicted over the last 47 years. at the democrat convention you barely heard a word about the agenda but that's not because they don't have one. it's because their agenda is the most extreme set of proposals ever put forward by a major party nominee. trump's remarks will be the finale to this week-long gop convention but before that, the democratic nominee, joe biden, is chiming in, responding to what trump will say tonight. >> we created more jobs in the last three years than he's created so far. so he inherited like that old phrase goes, everything he inherited he screwed up. he screwed up the economy so

badly. for the last four years, we weren't having riots, racial riots. when they occurred, we didn't have to call in the national guard, we protected federal property. reporter: once the gop convention wraps up tonight, the next big event on the schedule will be the first presidential debate between the two. but one democrat, house speaker nancy pelosi, is encouraging biden not to debate trump. biden says today he does plan on debating president trump but one topic that's sure to come up on that debate stage, liz, is china, because one nickname that trump has had for the democratic nominee is beijing biden for his cozy ties and soft stance on the country. liz? liz: hillary, as we wait for that speech tonight, important to note that we are hearing that hours away, we may get firm bid information on whether tiktok is being sold at least the u.s. assets along with the australian, canadian and new

zealand assets to a u.s. company. our sources saying microsoft. the president wants to ban it. we will be watching all of that and more. thank you so much. by the way, of course fox business will have complete coverage of all the action at the republican national convention tonight. special coverage begins at 8:00 p.m. eastern. well, the rnc will have no competition from the nba tonight for tv viewers. with the dow up 287 points and 40 minutes left before the closing bell rings, after leading the charge in protesting social injustice, the milwaukee bucks have now ignited a movement across nearly the entire professional sports world. as the red sox meet at this hour about their game tonight against the toronto blue jays, is another league about to postpone its games? coming up, the ceo of the company whose name is stamped on the bucks' hometown arena, fiserv's ceo here in a "countdown" exclusive next. the dow up nearly 300 points.

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liz: breaking news. espn reports the boston red sox are having a team meeting at this very moment to discuss whether to join a growing list of sports teams who have postponed their games in a show of protest following the police shooting of jacob blake this past sunday in kenosha, wisconsin. if the red sox postpone, it will be the third mlb game impacted just today alone. the texas rangers face off against the oakland athletics and philadelphia phillies, that's canceled. rather, oakland athletics and the phillies versus washington national games, that's called off. called off. postponed, whatever you want to call it. espn is also reporting that the entirely different league of the national hockey league will postpone its two playoff games scheduled tonight. now, we have reached out to the league, to the nhl to confirm that news. we are waiting on a reply.

but the nba, wnba, they have moved back all games scheduled for tonight and eight nfl teams have canceled their football practice this afternoon. to the milwaukee bucks, who play their regular season games at the fiserv forum. they lead what is now clearly a spreading movement. they were the first team to officially boycott their game yesterday. joining us in a fox business exclusive is the ceo and president, frank bisignano. welcome. by the way, yes, we have heard about the national hockey league. as soon as we get that information or anything on the red sox we will let our viewers know. that said, what is your reaction, as both the ceo of the company whose name is on the bucks' arena and as a business leader? what's your reaction to what began with the bucks but is now a force in the sports world pushing for social justice? >> well, you know, we have a great relationship with the bucks and from ownership to leadership, that partnership's strong.

we are led by our values and they are aligned with the bucks. we denounce any form of racism and discrimination. so you know, we see this as a time to bring people together and you know, we have a lot of programs to support and we are doing it both with our clients and inside the company. so we have always been great partners, the bucks are great partners, and you know, this hometown, we are a wisconsin based company, this is a hometown issue and months ago we went to the streets of brooklyn and tried to help small businesses, as you know, liz. liz: which is amazing, and we have reached out to the owner, majority owner of the bucks, along with jamie dimon, and you know, he's given us a statement

basically saying that they support the team in their protest and they also have no idea, though, when the next game will be actually on the floor. but tell me your sense of, from a financial standpoint, you as a company that has a connection to the bucks with the fiserv forum but also with your new effort with back to business which is helping minority small businesses out. where do you stand on all of this? it's a maelstrom developing as we speak. >> well, you know, covid's changed a lot for a lot of people. there is no sense of being in control for most and when we looked at the events happening through march and april and may, we made a deep commitment to

help small businesses recover and we're bringing our technology in there. i was in brooklyn last week giving $10,000 grants to three black-owned businesses in bed-stuy. we have an effort with our clover product, it's more than a financial grant, it's also a technology grant. it's how we're going to help small businesses recover. i have always believed, although we have the best clients in the world, there's large financial institutions and the largest retailers in the world who are fabulous, but small business is the lifeblood of america. they employ people, they put their own personal capital at risk, they put their own personal equity into it every day, so we want to be back there. we have committed $10 million at minimum. we are spending a lot of time, we will be in cities all over america bringing our technology, bringing our expertise and

bringing economics to help these businesses recover. ultimately, you know, it's on main street that things get done in america, and we have a deep commitment to help main street recover. liz: well, when you look at your actual business model and what you are able to glean from all the metrics that come in each second, i have seen your clover website where you can see real-time purchases coming through. which sectors appear to be really coming back and finding their footing? what are you seeing on the ground there through your data? >> i mean, it's been hard on travel and entertainment. you could look at even sports in total and those are big sectors that are not attracting what it attracted. the restaurant sector has to reinvent itself. we serve restaurants all across america. we have a great qsr business.

order ahead is now a way of life. we saw those mobile transactions growing at 100%. there's plenty of home improvement going on right now. people are very very focused on how to make their life better, and electronics, you can't keep them on the shelf. so there is a lot of consumer demand. we actually see spending trending up even with all the difficulty that we see in the environments, and people are doing what they can to take care of themselves in the manners that they can. liz: frank, it's great to see you. i'm glad the bucks are doing very well. we will wait to see when they do play once again. we are watching fiserv. stock is higher at this hour. thank you so much. >> thanks.

liz: closing bell -- listen, why not, right? 29 minutes away from the closing bell. the dow up 268 right now. that is still well pushing it above whinto back into the gree for the year. hours before bids are due for tiktok. u.s. assets. the analyst who says the deal is sealed is here exclusively. he's also made a street-high call on apple and has calls on salesforce and tesla. wedbush superstar tech analyst dan ives and the implications for all the names involved, only here next. don't forget our america invests together virtual town hall september 2nd. it's charles payne's show. send your questions to investedinyo investedinyou@foxbusiness.com. we'll be right back. so what do you see? i see an unbelievable opportunity. i see best-in-class platforms and education. i see award-winning service,

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liz: breaking news. microsoft stock moving higher by

3.33% and look at walmart moving higher by 4%. the headlines are moving fast and furiously in these final 24 minutes of trade. walmart confirms reports it's joined microsoft to acquire tiktok's u.s. operations. in a statement, walmart says quote, we are confident that a walmart and microsoft partnership would meet both the expectations of u.s. tiktok users while satisfying the concerns of u.s. government regulators who, as we have been telling you, demand that it break off from its chinese owner bytedance. widely followed wedbush tech analyst dan ives says the deal to save the app from president trump's threat is now sealed. dan joins us now. wedbush managing director. dan, this seals the deal, why? >> it's the final piece in the puzzle. to me, it was microsoft's deal to lose from the beginning. but now if you look at even the

oracle and others are in there with walmart, that's the one-two punch. that's the e-commerce piece that ultimately was missing. ultimately, the integration issues i think will even be more contained and to me, it's a matter of just time in terms of when this deal is announced. it's microsoft's deal to win. that's the only white knight. i view walmart as sealing the deal with microsoft. liz: what about the price action in these stocks here? walmart, i mean, we see it do well but up 4.2% in the final, you know, 23 minutes of trade now, and microsoft also jumping, oracle kind of lagging here. what does that tell you? >> i think the street's telling you this deal is just a matter of, you know, not if, when the deal gets announced. you look for walmart, similar to microsoft, just basically fell into their lap. this would give them huge sort of arsenal in terms of going after amazon, e-commerce piece,

cross-pollination and i think this would be a huge move for them successfully and for microsoft it's a no-brainer. i ultimately think over the next two to three years, this could be worth in the hundreds of billions, even $35 billion, $40 billion price tag would be a no-brainer. liz: you know, this morning, the ceo of tiktok, who held the job for just a couple of months, kevin mayer, had left disney to come start and really run the western version, you know, of tiktok and really punch it up. he resigned overnight. fox business had that right at midnight because he sent out an e-mail to his employees. he obviously was somebody who did not anticipate this. i'm not sure anybody anticipated it. he said the political environment is sharply changed. he's done significant reflect n reflection. forget it. he's done. when you talk about sharply changed, president trump announced august 6th you know

what, if there isn't a deal to sell tiktok which by the way, for those of you who don't know, is a short form video app that's very popular with tweens and 20-somethings. kids dancing around. if they don't sell it to a u.s. company by september 15th, i'm banning it. so this is really kind of historic. it almost feels like it's going to be some type of, you know, harvard business school case study in the future because unfortunately for kevin mayer, he's the first to have had to deal with this. but when you look at the two supposed bidders, oracle and microsoft, and then compare their market caps, why does microsoft need walmart? they don't need the money. look at the market cap, $1.7 trillion for microsoft versus oracle's $175 billion. what does walmart bring to them? >> i think it's more the e-commerce piece. the consumer-facing side. i think there's a lot more synergies with walmart in. they could obviously also contain even some of the

integration issues. they could take some of that e-commerce side where i think microsoft is going to take this a whole other way. that's a partnership that would be really a goal of the partnership. you look at oracle, that would be a head scratcher bid. microsoft from a treasure chest, already a green light from the white house, and that's why call it eighth, ninth inning for nadella to get this done. microsoft's consumer strategy's really been on a treadmill for the last call it five, six years. nadella has had the golden touch on enterprise. now this fell into their lap, in my opinion. it's really christmas came early for microsoft. the tiktok asset, call it $35 billion plus. liz: maybe the ornaments and the tree were set up for microsoft and then they just needed that top thing, the little star, and that comes with the red, white and blue all american walmart, although i'm not sure some at the white house see it that way. we know that lot of trade reps,

walmart has dealt so much with china and we have lost jobs because they buy a lot of their product from china, but as we wait on the bids which are supposedly due in the next 24 to 36 hours, give me your sense of whether the cool factor of tiktok right now will be maintained under kind of a staid microsoft/walmart not exactly the coolest names in the universe of companies to run something like tiktok. can they hold on to that cool factor? >> and for microsoft and walmart, it wouldn't be your grandpa's microsoft and walmart. it would i think change perception of them, especially with younger demographics. i think microsoft has done a phenomenal job not touching things that are working great. you saw that with linkedin. i think within redmond, i have a lot of confidence the tiktok asset will just get more and more steam in terms of the marketing prowess as well as within the sort of r & d center.

so to me, this is something where these two combine. we're at the prom, there's one dance partner, it's microsoft and obviously walmart came in. oracle is more of a, you know, not just a head scratcher but a very big long shot in terms of how i see that. liz: okay. i want to ask you about your call on apple. there are a lot of analysts that some would argue, possibly you included, are falling over each other to kind of get that street high, and you have it right now for apple. do you expect to change that at all and what will get it to that, what is it, $700 a share? what will get it to your street high call and are you worried at all that there's some froth, so to speak, when it comes to people falling all over each other? you got a pe of 38, looks a little rich. what do you think? >> i mean, look, our call's been consistent the last seven, eight

years on apple. it's one where it's a rerating story. i think that's what you're seeing. remember, the haters hated 300. despised 400. really hated at 500. it continues to be a rerating story on the eveservices businesses. i think it's worth $900 billion. you're going into a super cycle. you have choppiness and headline risk a year from now, the stock has a 6 or 7 in front of it, in my opinion. liz: do you think that apple sees any competition whatsoever from amazon, amazon has come out with or is about to come out with this fitness wearable and you know, hey, i'm wearing an apple watch right now. i finally gave in. but can amazon ding them at all? are you worried about that? >> i mean, look at apple. if you look right now, the airpods are a $30 billion revenue stream, the services,

$60 billion. of course amazon across the board in terms of smart home, but right now, in terms of the super cycle, it's apple's world and everyone else is paying rent. liz: dan, great to see you. dan ives. >> thank you. liz: making the tall call for apple and needless to say, says the deal is sealed and it's microsoft and walmart. we'll be watching for the news on tiktok. thanks so much. closing bell ringing in 15 minutes. up next, travel stocks taking flight. could a raging mask debate throw things back up in the air? and as many americans lose their jobs, their business, and their hope during the pandemic, this week's everyone talks to liz podcast guest shares the number one reason why you should hold on and keep the faith. kind found er has kind bars, yo know them, struggle to make ends meet and almost, you may not know this, threw in the towel just as he was about to launch his nutritional snack company.

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liz: robin's egg blue still the color of choice. jewelry giant tiffany's sparkling into the close. the luxury rebound in china and a big pop in online sales in both the uk and the u.s. are driving earnings past estimates. tiffany's digital sales here in the states, you ready? jumped 122% during the covid

quarter. just nuts, right? shares right now are jumping 1.8% to $123.72. that's called retail therapy. you buy diamonds. they are still shiny. one of the nation's oldest department stores is singing its swan song. lord & taylor going out of business sale launching today. the chain closing all 38 locations after filing for bankruptcy earlier this month. lord & taylor one of the pandemic's many retail casualties. now, from retail to hard-hit travel stocks. they are actually rebounding on the fda's approval of abbott labs' new 15-minute rapid covid test. united airlines, marriott, carnival cruises, some of the biggest winners across the nasdaq and s&p, which has nine minutes left of trade. delta airlines also in the green but making some waves with its new face mask policy. let's get to cheryl casone in the fox business newsroom. cheryl: yeah, delta taking flying very seriously and wearing a mask is not optional.

it is mandatory. anyone who refuses doesn't fly delta. done as of august 27th. delta said it had banned roughly 2 to 40 people from flying. the ceo said in a memo to employees, we continue to put passengers who refuse on our no-fly list. they are not messing around. you know what, whether it's mask rules, empty middle seats or the reduction or elimination of food and drink service on board, airlines are struggling to get passengers to trust them and they want to stay in business. that means getting business and leisure travelers back on to the planes. there is delta in the intraday. are the airlines going too far? that question flooding social media after jetblue earlier this month forced a brooklyn mother traveling alone with her six kids, they forced her off a jetblue flight in orlando because her 2-year-old wouldn't wear a mask. flight attendants ordered her off the newark-bound plane.

jetblue's response, a spokesman says children age 2 and over must wear a face covering consistent with cdc guidelines which they say masks should not be worn by children under the age of 2. to be clear, that child was 2. i don't have kids, but i think it's kind of tough to tell any 2-year-old what to do. maybe i'm wrong. liz: i have had two 2-year-olds and they squirm around like sharks. it's like a fish that's flipping around. i get that. i do see delta's point. the ceo was on this show just about four weeks ago saying this is working, people are not getting covid when they travel on delta flights. so they are holding on to that and i support that. i really do. cheryl, thank you so much. cheryl casone. all right. guys, look at the dow. we are up 205. we need to be up 206 for the dow to turn green for the year.

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♪ ♪ liz: closing bell, three minutes away, folks. yes, as usual, it comes to that. as usual, the s&p is set for its fifth straight record close. the nasdaq just slightly negative, down 38 points. looks to snap its five-session record run. but the dow now up 167. needs 206 points -- we were there 59, you know, 58 minutes ago to turn positive for the year. we are not there now but you can

see it's just slightly down for the year. s&p is up 7% for the year, and we do have nasdaq up 29% for the year. let me get to apple stock because it's on all of these indexes. apple's stocks has grabbed a very bright spotlight as an incredible investment if you got up a year or two ago, up 146% year-over-year. but it's also become a pricey stock. are there better names in order to get ahead of the 5g kind of flight in your portfolio? let's bring in zone o'hara -- sean o'hara, $5.4 billion in assets under management. yeah, last i checked apple's, let's see, it changes every five seconds, but the pe ray show, i see, is around 38. that would be considered certainly expensive. but tell me right now what's a less expensive buy, a a lesser spiky name that you feel, sean, gets investors a punch in 5g as well? >> well, you know, 5g is nothing

more than making cell phones work faster, be able to download more data, bigger packets of data. what we really like is to diversify away from the fangs, if you will, the things that make it possible. the information superhighway today is fiber optics, and we own a name in one of our etfs, cogent technologies is one of the world leaders. it's what enables a zoom to get ramped up right away. so they're there to take up all the traffic. it's not a lot cheaper on a pe basis, but it is critical -- liz: it's more expensive. >> yeah, it's actually more expensive. the other name that we like that's 5g-related is qualcomm. as we all go over the next two to three years, again, probably in the same pe range as apple, but they have a patent on the chip technology that goes into literally almost every cell phone. so whether it's an apple phone or a samsung phone, they're in a perfect position there. and then i have a sleeper name, it's 5g-related but also one of

those dreaded retailers, best buy. they've done a great job in creating an omni channel approach. as they reopen, we think they'll do each better. liz: sean, it's great to have you with your picks. sean o'hara. folks, it is a new record for the s&p 500, the nasdaq's record run ends, the dow just points short of -- melissa: the s&p 500 extending its record streak after the federal reserve announced a landmark shift in policies, pledging to focus on restoring the country to full employment and tolerate higher inflation. the s&p closing at a new high for the fifth straight day marking the most consecutive records in more than two and a half years. we like that. the nasdaq losing steam after hitting an all-time high earlier today, snapping a five-day record streak at the close. and the dow a little more than 1,000 points away from record territory. i'm melissa francis, and this is "after the bell." there's connell.