turned around. no c.p. effect just yet for the dow. we got another hour to go. cheryl casone in for liz claman will usher you through the next hour. cheryl: the c.p. effect and also, i was looking at the dow and nasdaq and s&p, looking at some of the best markets for the month of august that we haven't seen since 1984. i was trying to remember what i was doing in 1984 and i can't. charles: i can't remember what i did yesterday. cheryl: long time ago. we will see what we can do with these markets. all right. wall street, well, we are looking at a mixed picture as we close out the best august in decades, like i was just talking with with charles. the dow down 188 but the s&p and nasdaq green right now. best month in 36 years. the s&p 500 and nasdaq hitting new intraday records today. we will see if we can actually have these markets hit new records again at the close in an hour.

as you can see, the s&p is up by just two points. the nasdaq is up by 129 points, firmly on track for its 41st record of the year. market action coming as the dow scrambles its members and apple and tesla hit new highs after splitting their stocks. our floor show traders will put it all in perspective for you. utz picking the pandemic to go public in a very unique way. we will talk to the ceo of the 100-year-old snack company about why it ditched the traditional ipo for a spac. the pandemic driving a suburban housing boom. the ceo of regional home builder tripoint group going to be joining me to tell us why he thinks city folks are suddenly surging into suburbia. plus buffett's 90th birthday buy. the end of market feuphoria and tiktok on the clock. charlie will break it on the social media darling.

less than an hour to the closing bell. i'm cheryl casone in for liz claman. let's start "the claman countdown." cheryl: well, shares of gamestop are surging after the cofounder of online pet food firm chewy's reported a 9% stake in the video game retailer on the belief that this particular stock is undervalued. it's up more than 30% right now. shares of workhorse, let's take a look at that stock right now, is trending higher by almost 14%. they just announced strategic agreements withhitachiamerica andhitachicapital america. this will help them develop a national dealer network and vehicle financing options. scitigroup upgraded beyond meat to neutral from sell, saying the alternative meat maker's new website eliminates

lack of direct-to-consumer distribution concerns. citi expecting restaurants to up their plant-based offerings as the worst of the pandemic passes. that stock up more than 4% right now. taking a look at apple, the biggest mover on the dow today but only the 18th largest component after today's four-for-one stock split that went into effect this morning. let's flash back to friday, the good old days. apple was the largest component on the dow followed by united health, home depot and microsoft was rounding out the mt. rushmore, if you will, of the dow. pretty picture there. after today's shakeup, here we go. united health taking the lead followed by home depot with new addition salesforce and amgen among the largest components. apple and tesla still do dominate headlines with their record-setting stock splits. we welcome susan li from the fox business newsroom with more. susan: call it stock split monday. it's so popular that online trading platforms like

robinhood, charles schwab, td ameritrade and others have phased outages because of this demand. apple splitting four for one, tesla five for one, fifth in apple history, first for tesla. both stocks are rallying today, that was the point to make it cheaper so more people can buy in and they are. stock splits are rare in 2020 because we live in an age of zero commission trading, fractional stocks are available as well, and nothing really changes after this except for maybe the influence that apple has on the dow, as you just highlighted, which goes from number one to the middle of the pack at 17. but the dow can thank apple for propping up the industrials, accounting for 1400 points to the index all by itself this year. also using the apple stock split, by the way, to shake up the index. this is only the third time this millenium old companies come out and new companies go in. the last stock sflplit was six years ago, seven for one split and three previous two for one

splits in 1987, 2000, 2005. historically, apple's stock hasn't really performed well after the last stock split. according to data, apple has fallen over 5.5% in the two weeks afterwards so there may not be a need to rush in. as for tesla itself, in spite of the stock split, it's still trading at lofty levels, 1100 times future profits which means the price you are paying today implies you expect tesla to increase profit by 1100 times in the future, at least so we hope. still the most shorted stock in america, over $21 billion, but some capitulation today with the bearish bets, the positive ones at their lowest in history and that's been rare for this company over the last few years. so if you bought $17 at the tesla ipo in 2010, you would have made back 5,000 times your money. cheryl: that is why the bulls still continue to give the love to tesla, no matter what elon musk says on investor day which is going to be next month.

susan: battery day, too. very important. cheryl: going to be fun to watch. maybe he will dance again. s&p th susan: that would be great. cheryl: thank you very much. susan li. the dow may be down by 202 points at the moment, but the major average still on pace for its best august since 1984. as you can see, a jump of more than 7.5%. but with the election still two months away, what does it signal for the final months of 2020? we are looking at the one-month gain for the dow which is prets pretty strong. i want to bring in scott redler and phil flynn. what do you think the signal is here for the dow? we have a major shakeup in the industrial average as of this morning. should we be doing more picking this fall or stay with the average, in your opinion? >> which one? cheryl: scott, go ahead. sorry. >> at this point, we are all trying to figure out what the

next three to four months could look like because it's going [ inaudible ] to have the same kind of action we have seen since the march lows and pretty much throw history out the window, except history told us over time the bulls do win. but you trade actively and approach the market and try to create [ inaudible ] at this point after the size of the rally we have seen with potential volatility coming in prior to the election, potential not even having a president because it could be contested in november, i would think if you don't want to sell too much of your equities, now's a good time to put on a vix call spread. i put on a vix call spread for october and november just in case volatility spikes, just in case we have too many bulls right now. but i'm also in positions i'm massaging because every week the bulls have proved they can keep the market going. even today everyone said they would sell apple and tesla on the split and both stocks went

green and drove the nasdaq. cheryl: that's really a broader market perspective, i think, and strategy. i do want to take that to phil flynn. pardon me for the confusion earlier. phil, that is true, a contested election is something that makes investors very nervous. to scott's point, that's when you start to play the vix. what do you say? >> i agree with him 100%. leave it to scott to come up with the nightmare scenario going into the fall season and get you in the mood for fall, but absolutely. i'm hopeful, i think everybody in the country hopes the election's a lot more decisive than that because i think one of the worst things you really want to see at this point is some type of contested election. but when it comes to volatility you're absolutely right. i think scott makes another good point. you don't want to fight this bull market. how many people have to learn that this is not a bull market to be reckoned with? you've got the federal reserve talking about more inflation last week, you know, more flexibility on inflation.

you see things that are really impacting stimulus and you are actually seeing economic data that would suggest that some of these valuations of these companies aren't that far off, that we are going to see some incredible growth in the last quarter of the year. you really don't want to fight that type of momentum. what kind of stocks you buy? if you can't afford apple, because apple is off the tree, you might want to look at starbucks. they always do good in the fall when it gets cold. you get a few more drinks of that latte stuff and all that good stuff. cheryl: i'm ready for pumpkin spice latte. i have no problem admitting that. scott, i want to take you to a point phil made to you. talk about valuations maybe not being that off. i want to give you this. even corporate america thinks the stock market is overvalued. that is the headline of an article that talks about the fact that 84% of fortune 500cfos say the market is overvalued. i was surprised by how high that

number is. >> you know what, historically, the pe of the s&p is definitely elevated right now but if you recall, i think somewhere around may, most of the major hedge fund billionaires said the s&p wouldn't go above 2850 and here we are at 3500, 3515 or so, wherever we are. you can't listen to everyone's opinions out there. the market will tell us when it's ready to falter. the market will tell us when volatility's going to spike. i like to use moving averages and technicals because usually fundamental perspective is an opinion because it always changes and everyone has their own narrative. slon as long as the s&p is above the 21 day, which signals a strong market, i will be optimistic and be in the best acting names. if that starts to falter like it did in february before the decline, then i will be a little more flexible. i will also stay long-term in my 401(k), 403-b, my son's 529.

depends how you want to approach it. it depends on your time frame. cheryl: nobody wants to see february or march really ever again, hopefully. scott redler, phil flynn, gentlemen, thanks to both of you. appreciate it. well, speaking of markets, let's collect theck the big boa. we're not at session lows but 188 points off, 28,465. snack giant nestle moving further into the health and sciences space after it agreed to purchase immune therapeutics for $2.6 billion. immune wanted approval for the first treatment for peanut allergies early this year. nestle has been building a health science focused business for decades, mostly on dietary management. nestle slightly to the down side. aimmune therapeutics up 21%. another snack staple, utz, going public today. why is the 100-year-old

family-owned brand finally taking itself public with a spac company? we will talk to the ceo, next. turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪

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look to avoid the quarantine 15, the hunt for healthy snacks is heating up. a new study from fortune business insight says the healthy snack market, things like meat snacks, trail mixes, granola bars, was $78 billion in 2019 but that will soar to $108 billion by 2027. the study, music to the ears of snack companies around the world, including utz, the largest family-owned salty snack company in the united states, who just went public this morning under ticker symbol utz, of course. joining us from the floor of the new york stock exchange is the ceo, dylan lisset. great to have you here. congratulations. >> thank you. good afternoon. cheryl: talk to us about how you did this. you didn't do a traditional ipo. you did a spac which, if our viewers don't know, special purpose acquisition company. why did you go this route? >> really, we started this well over a year ago, kind of before spacs became such the rage which has really been the last couple

months. we happened to meet up with the founders of the collier creek holdings, roger, jason, craig, the folks that are on the board there, and really just started talking about how we might find a path to an ipo through the spac process. what we really liked about it were the people and you know, the game plan that they had executed in the past and how that might add value to our company. so if we could combine with them and go public via the spac we thought it would be a great way to do it because we have a turnkeyboard of directors which are fantastic. we worked for almost a year on our strategy and our plans to go forward, so ultimately just ended up being a great vehicle for us to go public and again, it was before the most recent rage in spacs becoming such a common vehicle. cheryl: it really has. you mentioned roger duramende. he was the ceo of kraft at one point. you've got a good partnership, i

would assume, in that group. that makes a lot of sense. it's got to be the right partner, i would assume. i want to talk about the pandemic and your company and how things have changed. you have obviously got manufacturing sites across the united states, you've got i think it's arizona, you've got pennsylvania, illinois. how have things changed in the manufacturing process during the pandemic and especially with workplace safety? >> yeah, we leaned in real heavily. in early march, when the whole sort of pandemic started and began really coming forth, we actually went to some experts, we really knew this was going to be something we had to be concerned about. we leaned in very early on, ppe, on social distancing in the plants, staggered work forces, cafeterias, different doors, cutting off suppliers and vehicles from being able to enter our facilities, keeping everybody segregated. we kind of went really early on that direction, and it started

paying dividends because we had very few cases and just a lot of safety first culture. we have a great team in place. we made a lot of structural changes to make sure that that happened in march, but then that we continued that through until today. even through today, of course and into the future on how we keep people as safe as possible. cheryl: which is so important nowadays for everyone. one of the things that's interesting about utz, it was always a family-owned company. the wright and lissette families. at the same time you have been there for 25 years. i'm curious what you would say to anybody watching who is interested in your stock now. it's still going to be more than 50% family-owned. that tells me that's controlled still by the family. >> yeah, i mean, we believe ultimately that we have been great stewards of the business for over a century. if you go back to 1921 when it was founded in the small town of hanover, pennsylvania and through the generations of my

father-in-law, mike rice, and his wife, jane, and his dad and mom and grandparents, the rices have been great stewards of the company. the hanover community has been fantastic. really, as we sort of looked at a way to go public and maintain interest in the business but set ourselves up to be very dynamic, we can are the fourth largest salted snack platform in the u.s. today, we truly believe we can become the third in due time and we can become the second largest in due time, utilizing our platform and our strengths and capabilities. so for someone who is looking at investing in the brand, i would feel very comfortable and very happy to know we are retaining such a large stake within the company so that we can continue the magic that we have really worked on over the last almost just short of 100 years. cheryl: i want to ask you before we go, you make everything from pork rinds to pretzels. i personally like your pretzels. i was just telling you that in the break.

what's the most popular thing right ynow people are buying? >> the potato chips have been really through the pandemic for whatever reason. potato chips, and we actually have a fair share of the potato chip category. potato chips have been really on fire. cheese balls are fantastic. the cheese ball barrels we do have been iconic since 1997. we just continue to do more and more of them. it's really across all of our brands and portfolios but the utz brand potato chips and cheese balls are on fire. cheryl: well, dylan, congratulations on the ipo. big day for you and your company. >> great. thanks for having me. cheryl: here we go. dow was down 217. now we are starting to touch session lows. a lot can happen in 39 minutes. you never know. hotel giant marriott international announcing it is going to de-list from the chicago stock exchange in order to help reduce administrative costs and requirements.

nyse chicago will suspend trading on m-a-r prior to the opening bell september 21st. shares will continue to be list order the nasdaq global select market. there is marriott international, stock is down. it's had a rough year, as you can imagine. stock's down almost 3% right now. as another round of stimulus has seemingly been put on hold, americans are turning to discount retailers to help cut costs. but with the appetite for discount shopping, will that continue even when the covid-induced recession subsides? kristina partsinevelos breaks it down for us. she's coming up next. 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: quite a market day as we round out the month of august and another month in the books for the dow, the s&p and the nasdaq. at this point, the nasdaq is on track for another record close. s&p was in the green just a few moments ago, but we've still got

33 minutes to go. a lot can happen. the dow solidly in the red. i want to show you the vix right now because we actually just hit session highs on the vix just a few moments ago and basically, that's the thing we were talking about during our floor show, the fact that this is kind of the thing you want to watch. this is the fear gauge, if you will, for the markets. the more this thing goes higher, the more fearful are investors. discount retailers thriving as cash-strapped consumers are seeking out stores with the lowest priced groceries and household items. the financial stress leading more and more people to shop for their essentials at dollar stores. let's head to kristina partsinevelos, who is outside of five below right here in new york city. hey, kristina. kristina: yeah, hey, i'm just down the street from you. as we know, cost-conscious consumers are really trying to stretch their dollar further. this comes as millions of people are out of work, they are not getting, we know, benefits checks or they have had pay cuts or unpaid furloughs.

that means the hunt for a bargain is on, hence the reason i'm at five below. everything in this store is supposed to be $5 and below. we know dollar stores overall have been doing quite well. dollar general as well as dollar tree that operates family dollar, all released their earnings last week. we saw some really strong comparable same store sales. looking at the same store sales, family dollar which is under the family tree umbrella, they were up almost 12% year over year. we are talking about dollar general, up almost 19% yooefr year. five below, that's what i want to highlight, the store behind me, they are set to release their earnings on wednesday, they are geared towards teens. they have fewer, i guess, a smaller footprint across the united states. given the pandemic, they changed their merchandise offering. i just went inside. they are offering more beauty, more homeware, a lot of tech stuff, lot of tech stuff to accommodate all of those working from home at the moment.

the big question is especially for investors going forward, how do you retain the new customers. five below has definitely tried to expand their e-commerce platform. they acquired this year alone holler.com in order to cater to those online. then you have dollar general that has realized a lot of their newest shoppers are younger, tech-savvy so for the first time ever, they have now offered a buy online, pick up in store model they plan to roll out to all of their stores across the country, hence the reason why you are starting to see this uptick in dollar sales. a lot of industry experts do believe this is here to stay, especially for the short term. you have analysts that are bullish especially on dollar general given their footprint across the country. seems like we will continue to be cash-strapped especially heading into the fall. cheryl? cheryl: also, everybody loves a good deal at the end of the day. kristina: i do. i have been to this location so many times. jack's 99 cent shop, dollar

tree, family dollar. you name it, i have been there. cheryl: ever been to the super target? kristina: super target? cheryl: ever been? kristina: is that a giant target store? cheryl: yes. you got to find one. kristina: yes. i have. i thought it was like a special target store that was even cheaper. cheryl: it's called super target. i will send you a link. kristina partsinevelos, thank you very much. let's take a look at the markets right now. dow is down 191. the s&p is down a point. nasdaq, though, still higher. at this point, the nasdaq is on track for another record close. coming up next, city homeowners making a rush for the suburbs since the coronavirus lockdown flipped the script on the housing market. the ceo of home builder tripoint group shares his insight with us in just a few moments. don't miss fox business's latest america invests together virtual town hall. it will be wednesday at 2:00

p.m. eastern time. charles payne going to have barstool founder dave portnoy as his special guest. you can ask them a question, message fox business on facebook or instagram or send your questions to investedinyou@ foxbusiness.com.

cheryl: you knew this was going to happen. breaking news. delta airlines now, after united airlines, has updated its ticket change fee policy. the airline just announcing it will extend waivers on change fees for newly purchased flights which includes international flights, which is different from what united's doing, and basic economy fares through the end of this year. united says they are going to do it permanently. delta says at the end of the year. we'll see. they are also going to permanently eliminate change fees for tickets purchased for travel within the united states and they are going to extend the expiration on travel credits to december of 2022 for tickets

that are booked before april 17th. so delta making a very similar announcement to what united just did, except international to the end of the year. american, jetblue, what say you? well, new york city dwellers are reportedly flocking to the suburbs in such big droves that moving companies cannot keep up with the demand. a "new york times" report revealing that home sales for new york city suburbs spiked 44% last month compared to last year but it's not just new york city. new home sales nationally have now soared to a 14-year high, and get this, the median price for an existing home broke the $300,000 barrier last month for the first time ever but how long can this housing boom last? joining me is tripoint group ceo doug bower. great to have you here. >> thanks for having me on. cheryl: what's so fascinating about this move from the suburbs, it's almost the

opposite of what we saw in 2008. remember when the suburbs were getting built up, new home after new home in arizona or las vegas, then you had with the banking crisis hitting, you had the reverse and people came into the big cities. they consolidated. now we are going back the other way. how long does this last? >> you know, none of us have been through a pandemic but the home has obviously become the most important place in the world for the consumer, for your family, for safety, for work, and this mindset, i do believe, is going to last a very long time with more and more companies adapting to a work-from-home type of environment, this need for housing outside of the urban core zones are going to continue to increase to have more space for your family, for your work. so it's an odd thing to happen

but it just took a pandemic to change everybody's mindset. cheryl: instead of mega-mansions people were buying, these are places where you build, california, texas, virginia, maryland, we saw kind of that trend a decade ago, now it seems they want more space but they also want distance between their home and other homes. they want more yard space. talk to me about kind of what the buyer is asking you for now versus what they used to ask for. >> well, tripointe, we build about 80% of our homes are entry level, first and second move-up, and the chance to personalize your home is something that differentiates us in the housing business. so we see not only single family detached but also townhomes being very attractive that have the ability to personalize workstations, bedrooms, so forth for the consumer as they move out of urban environments. cheryl: what about the low interest rate environment? we have been looking at mortgage rates for the 30-year, 2.9%?

i had to do a double-take when i saw that cross at the time. it's pretty incredible. how long do you think these low rates will stick around? >> well, chairman powell just said low rates are going to be here for awhile. obviously when you have mortgages under 3%, that's a big plus to the consumer for purchasing a home. but you have also got low resale inventory and this big influx of millenials in their early to mid 30s, all are contributing to that demand we are seeing across the country in all the markets we build in. cheryl: also, there's been headlines crossing, i wanted to ask you about this, about some kind of lumber shortage. obviously if you are building new homes, that's got to affect you. >> i don't think it's really a lumber shortage. what happened is the mills got caught a little bit flat-footed because as we came out of the

march/april time frames, everybody kind of paused, mills paused and all of a sudden demand picked up. so we are seeing, you know, an increase in lumber prices as we go into the fall. my prediction is once the supply picks up, towards the end of fall going into the winter, those prices will come back into more of a normal range. but that's kind of the normal thing to happen when you have this surge of housing demand that's going on and it becomes a resource in the supply chain that we've got to work through. cheryl: i'm curious about what the buyers are looking for, too, when it comes to technology. because now we've got the work-from-home movement which i think as you probably do, too, is going to be likely permanent for a lot of people. when they are coming in and asking for specific things in these homes, is it better technology, is it better space, do they want like a full office setup in another part of the house? what are you hearing? >> all of the above. that's one of the great things

that our tripointe gruoup and sx building brands offers, personalization whether it's in the home, through technology or home smart program, office configurations, bedroom counts, all those things help our consumers feel that much better about making that purchase right now, giving them that freedom of choice. cheryl: well, it's certainly different than living in a big city, especially right now. new york and san francisco. doug bauer, times have changed. thank you very much for being here. we appreciate it. >> thanks, cheryl. cheryl: take a look at the big board. we are off session lows. down 176 right now. coming up next, the clock is ticking down to the deadline for tiktok to sell its u.s. leg to a u.s. company. but with two companies positioned to make a deal, which one's going to steal it? charlie breaks it next on "the claman countdown." so you're a small business,

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cheryl: warren buffett celebrating his 90th birthday over the weekend by expanding the berkshire hathaway portfolio once again. this time, with big energy investments. berkshire took a slightly more than 5% stake valued at roughly $6 billion in mitsubishi, and other corporations. buffett says he's delighted to have berkshire participate in the future of japan. the stock is at, well, up $600 a change. all right. we are just about 15 days away from the deadline for tech stocks to make a deal but with microsoft and oracle seemingly

neck and neck, does the white house favor one over the other? charlie gasparino is here to break it all down for us. welcome back, charlie. charlie: thanks for having me. congratulations on saying those asian names. everybody's looking for tea leaves on when this thing will be done. obviously this thing, meaning the tiktok sale to whoever, two leading bidders, microsoft, oracle, big tech companies, everybody's looking at tea leaves. lots of reports today that the decision is made that it could be announced tomorrow. just so you know, that's very possible. the decision could have been made this weekend for all that we know. who knows when they are going to announce it. obviously the chinese government getting now involved in this after the u.s. government has been involved saying that it's going to ban tiktok, that's the trump administration, president trump himself, because they believe its chinese parent company bytedance uses user data

for surveillance purposes, you know. to be hoevenest, i can't figuret why my 12-year-old niece is a big surveillance threat but that's where we are right now. here are some of the tea leaves. i'm getting this from sources very close to the white house. what they're saying is that the broad consensus among economic and national security advisers in the white house is that of all the bidders out there, and twitter was named as well, there's one company that could pull off securing the user data if you're worried about that from chinese influence and that's microsoft. that microsoft does have the cloud capabilities that no other company has. no other company that could buy it. obviously amazon would have the cloud capabilities but they're not going to let amazon do it. it's too big already. google does have the cloud capabilities but google couldn't get through either on antitrust grounds. so the company that could do it the best, according to the white house, and this is from the top

economic and national security advisers, they know it's microsoft. now, so why isn't microsoft the announced winner? i can't tell you why. a lot of this has to do with what's going on with the chinese government. but there's a political aspect to this as well. oracle is involved, obviously, oracle is a big, good company even though it does not have the capabilities on cloud that microsoft has. but it does have some key political factors in its corner. one of those is larry ellison, a close friend of donald trump or friendly with donald trump, a big silicon valley supporter, and two of bytedance's investors that brought oracle to the party, that want investment oracle to buy the u.s. assets and probably more, general atlantic, sequoia. general atlantic run by bill ford. sequoia, one of the top people there, they are both major gop people in the valley. so you get where i'm going with this.

we are talking politics on the oracle side, we are talking about technical expertise on the microsoft side. we should point out that microsoft shored up its political ranks by bringing walmart in, the big u.s. company, the ceo apparently is close with donald trump. microsoft also has a very effective lobbying operation. "new york times" did a great story on that and it's true, they are all over capitol hill, both sides of the aisle. so that's where we are right now. tea leaves now, on paper, cheryl. not saying this is what's going to happen. it's microsoft, you know, by a long shot. everybody i talk to. cheryl: i read your tweets -- charlie: they can do it. they have the balance sheet. they have the money. oracle, however, does not have that balance sheet, does not have that cloud capability microsoft has. it does have the politics on its side.

cheryl: charlie, you know what, you had me at security. all you need to say to me, security, microsoft, got it. charlie: you know, i have been shocked before. let me remind you of steve cohen and the mets. logically, he was going to win the mets. he has cash. a-rod and j-lo had a huge amount of debt. the other guys didn't want to pay up. steve cohen will pay more than $2 billion. it was logical even though it was a horse race. cheryl: love it. charlie: logic for a lot of reasons. this is logical. cheryl: welcome back. glad you're back. missed you last week. glad you're back. charlie gasparino. closing bell going to ring, we have now got nine minutes to go. dow down 134. coming up next, one market model shows euphoria hitting wall street before the dot-com bubble. today's "countdown" closer has picks to protect yourself when

the bubble eventually breaks. don't miss "lou dobbs tonight" at 5:00 p.m. he's talking to treasury secretary steve mnuchin about stimulus and a lot more only on fox business. we'll be right back. 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. i'm a delivery operations manager in san diego, california. we were one of the first stations to pilot a fleet of electric vehicles. we're striving to deliver a package with zero emissions into the air. i feel really proud of the impact that has on the environment. we have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future.

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♪. cheryl: closing bell, five minutes to go. we're mixed on the final trading day of the month of august. the dow cutting its losses. we're well off the session lows as you see for the dow. the s&p is teetering with higher territory. green right there. if we keep these green arrows for the s&p and nasdaq, we'll have new record closes for both of those indices. we're looking basically for the month of august. strong performance. we have more than 7% gains for all major indices. all major three, fifth straight monthly win for these markets as you can see right there. we're on these markets. we're watching numbers. august end to the namesake

trading month with the dow, s&p 500 on track we hope for the best august in four decades. i guess we can say it, we're close enough, jackie deangelis, we can go for best in decades approach for markets. reporter: looks like we'll clear the hurdles to have the best august since 1984. cheryl, they say go sell in may, go away. that is not what happened this year. hopefully strong august with momentum into the back of the end of the year. i want to go with s&p 500 winners and losers. look, royal caribbean, obviously cruises were hammered. this stock is coming back with optimism. mgm resorts, similar kind of story there, seeing a 40% gain for themont. salesforce.com, 40% gain as well. that is the component that was officially started trading as part of the dow today. that is one to watch as well. on the losing side of this you

have occidental petroleum, pretty big losses. what is about the losers, not necessarily obvious story related to the coronavirus pandemic very specifically, which shows the tied may be turning here. hopefully we're not being too open mystic with that. that being said, s&p 500, nasdaq, looks like more than 7% gain for the months. cheryl: nice to see green arrows even if not seeing them at the close. citigroup's pandemic euphoria model is the most euphoric, recently hitting levels that signal stock market declines to come. our next guest is preparing for that possibility. we have skybridge partner's troy. >> wish i could see you, cheryl, great to be on. cheryl: we can see you. i'm seeing you're a little nervous about the fact that the

market might be overvalued and a little too euphoric. this model has been this indicative in quite a while of the potential bust. what is going on? >> that was a great lead-up to the story. we've been very constructive on all asset reflation since the march bottom principally because of fed balance sheet expansion which led to massive money supply growth. that money has to go somewhere. it doesn't go into the real economy but pretty much flows into all financial assets. secondarily flowing into the housing market. what people forget the balance sheet has stopped expanded the last 12 weeks. it has actually contracted the last six or eight that led to flat money supply. juxtapose that of s&p at 23 times earnings. i'm glad you led with the citigroup euphoria model because that is off the charts. not that we'll have pullback for anything like march, we're poised to have a nice correction somewhere in the five to 10%

range takes a lot of euphoria out of the market. cheryl: there is a lot of nervousness about the investors, if there is contested election what does that mean. no more stimulus from washington. what does that mean. those are the questions we can't answer. we can answer for our viewers what you like. you like large cap tech? >> so our point is, if you have to go long now, we recommend that you get more defensive. if you have to go long, you should have combination, not just large cap tech, but also perhaps banks in there, as well as a little gold. because in the scenario where we get a very rapid economic recovery which we don't expect but where we do, because we get more fiscal stimulus, interest rates go higher, banks can lead to the upside and retake some leadership here that they haven't had for quite some time. there is no reason to puke large cap tech but like we said, be very cautious now. at this stage of the game with money supply still at high levels and probably going

higher, it doesn't hurt to be in gold. cheryl: i saw the gold. i saw the gold. troy, good to see you. of skybridge. [closing bell rings] markets wrapping up the month of august. five straight months we've had the markets higher. i want to say all the major indices up more than 7% for the month. that will do it. connell: all right. it is official, we have the best august for the dow in 36 years. now today we're mixed at the close for the major averages. the s&p was back and forth. looks like it will fall short after new record f it was up at all. nasdaq, time is up, closing again at new highs. second straight record close. 41st record close of the year. and just a great month. good to be with you on a monday, i'm connell mcshane. melissa: we'll take it, i'm melissa francis, this is "after the bell." we start with fox business team