Tiktok positive covid19 treatment news eli lilly starting phase three of an antibody drug. Well get into that and we have better than expected manufacturing data which along with better than feared earnings is helping lift sentiment. Were on record close watch for the nasdaq 59 minutes left trade. We certainly are. Its up 1. 6 lots to come on todays show well discuss the fast moving developments in the talk between microsoft and tiktok and what a mean would mean for other social media stocks with chris kelly. The plus, big Testing Companies like quest and lab corps warn of back logs and delays, well talk to Gravity Diagnostics ceo we have big Earnings Reports coming your way. Virgin galactic, taketwo and chegg and more well bring you the numbers as they cross and analysis as well. Lets focus in on the big stories. Mike santoli tracking todays market action. Mike, lets start with you. Not far off session highs really not that far all time highs. About 3 below that right now. And weve kind of broken gently with this levitation we had today above the range weve been in for the better part of six or seven weeks. You know, we talked last week about how 3200 on the s p 500 refused to break we had multiple days in the last half of july where the market just bottomed there and bought that seemed to show you that, you know, this side ways period netted out to the benefit of th bulls. Will yes, 2300 is flattered by the largest nasdaq stocks. If youre an index investor, you dont care the prices count the average stock is a good deal below its former high. St so obviously still unbalanced market one that is working right now. Take a look here a little perspective of the run weve seen in recent years and when Ned Davis Research calls the super seven stocks of the nasdaq and of the s p 500. That is faang plus apple will and microsoft and tesla. The they now are tracking what this firm has put together as a composite of historical bubbles, the dow in 1929, nasdaq in 2000, nikkei in 1989 and gold in 1980. You see the synchronicity here all it means is that all these things equ things quadrupled in five years. I pushed back on this story that nasdaq is a bubble and pure speculation. They also are the most Profitable Companies in the market you do have to keep in mind how far weve come right here. What is interesting is if you only look at the nasdaq in 2000, the run weve seen recently doesnt come close to looking as if it matches up because that one doubled in less than a year in the peak. This is really trying to find the negatives out there in the face of what is so positive clearly today in ermz of it momentum were not seeing amazon. Were not seeing alphabet. The were not seeing facebook take part in this today. Is it perhaps more stock specific apple can you point to strong earnings, microsoft this merger potential . Yes st i i do think there is differentiation going on they were both born in the 70s. This he do better in times like this apple and microsoft good for about 150 points on their own. Thank you. Mike santoli always with the age perspective. Lets turn to washington President Trump speaking with microsofts ceo over the weekend as that company contemplates a deal for tiktok. The president weighing in again today. We have the latest the president s thinking on tiktok evolved dramatically. On friday, there were reports that there would be an executive order banning tiktok, a move the president floated that night on air force one. But over the weekend, there seemed to be a change of heart with him speaking with microsofts ceo and blessing the companys talks to acquire tiktok in a way that comported with the governing body. And speaking to reporters earlier today, the president said that he believed that an acquisition outright would be the most acceptable form of divesting tiktok and the u. S. Should get a cut of the proceeds the. Close down september 15th unless microsoft or somebody else is able to buy it and work out a deal, an appropriate deal so the treasury of really the treasury, i guess you would say, of the United States gets a lot of money now that is just a little over a month from now. The president giving microsoft and tiktok to work out a deal. Trade mark of the president set a line in the sand unclear whether that is a hard line or whether that is flexible guys how would the u. S. Treasury how would the u. S. Government get a slice of the deal price does that make sense well it hasnt happened before, sara, that is to be sure when what we dont know is if the president was speaking off the cuff as he often does in just, you know, merely musing Something Like that should happen because he is serving as the broker of the deal whether there is a way to structure it in this that case it is hard to see how ethically that would work out because it is the government that is mandating the sale for National Security reasons and so for the government to then profit off that, it does it does make you scratch your head a little bit. Well see if there is anything to that in the coming days then the feature in the m a tables for q3 ill be looking out once we get the banks numbers through for the quarter. Pivoting as well we want to talk about where we stand now on the potential stimulus package and whether were any closer to a deal or not. Well, the negotiators from the congressional democratic side and also the white house are meeting on capitol hill right now going into the meeting. The white house chief of staff was asked what his expectations were, whether he had any expectations were held today n none yet both remained distant in their negotiating positions even despite the nakt in the lafact seen the eviction and unemployment protections lapse over the weekend they spent time on airwaves saying that the other side was negotiating in bad faith and without, as i said, i believe on this program on friday to you, wilf, without a significant cave by either side, its hard to see how this moves forward. As you said, we have gone past the expiration dates for the eviction notices and the 600 unemployment benefit, are there any other dates looming that could act as a line that they can work towards . I think the end of september date, wilf the one that correspondence to when the airlines and National Security companies have to retain their employees until the there have already been signals from the large carriers that theyre poised to do mass layoffs beginning on october 1st h they have seen such a remarkable decline in their revenue. I know that there is a concerted effort under way to try to figure out how to retain as many many of those jobs as possible the and then on the Small Business front as well, there was a temporary extension of the ability of Small Businesses to apply for those loans if they didnt receive them already. Pt that application deadline is august 8th so that is also quickly approaching. All right great stuff. Thank you very much for that despite no stimulus deal, were higher by 1 on the dow. 1. 6 on the nasdaq. After the break, one New York Times columnist says there is a better tlugs to the tiktok concerns than banning it or forcing a sale they explain why strict regulation could the answer next youre watching closing bell on cnbc. Tiktok now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. The volatility. The ambiguity. This moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you new clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Liberty mutual customizes your car insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Try new natures bounty stress comfort. Three unique gummies for your unique needs. Find peace. Boost mood. Sleep well. Stress comfort comes naturally, only from natures bounty comes naturally, what happens when puts its customers in charge . Well, the good news gets shared. And it gets rated 1 for customer satisfaction. But dont just take our word for it. Take theirs. Its your wireless. Your rules. Only with xfinity mobile. Call, click or visit a store today. Welcome back dow is up 254. Microsoft is a big part of that. It is in talks to acquire tiktok from bite dance after President Trump said he would ban the app on National Security concerns. But our next guest says instead of banning tiktok or forcing a sale, the u. S. Should make a example of it through regulation kevin, welcome so it seems like its not going to go that way microsoft confirming its in talks for a deal here. But what did you have in mind exactly as far as what the government should do i dont know if the president just isnt reading my column or something i mean what is happening here my take is that because the u. S. Is in such a favorable position with negotiating with tiktok because of tiktoks chinese ownership, it has a chance to extract something pretty valuable here which is transparency instead of forcing a sale or, you know, banning the app altogether, what tgovernment could do is force tiktok to open source the key algorithms to audit the practices. At a tern point what were scared about tiktok is a lack of information and transparency we can fix that by using this as an opportunity to look inside tiktok but to apply a more broad a broader framework to look at chinese owned Tech Companies but american ones. I guess many i question is, is there any precedent for that . In china, they limited exposure from u. S. Technology Companies Like facebook, for instance. They have their own rules. Here in the u. S. , when it comes to dealing with huawei, i mean, the instinct has been to stop it, ban it yeah. I think i understand the impulse when it comes to tiktok. The i think without drawing a false equivalency between what theyre doing and what u. S. Social networks are doing, i think there is a similar lack of information. We dont know how youtubes algorithms or facebooks or twitters. Wet should know more about how they collect data, what they do with that data, how they actually work the internal meccas of the algorithms i think tiktok could be a test case for a new kind of regime around these companies that could force them to be more transparent. We put in place federal privacy regulation federal Data Protection regulation so this is sort of a squandered opportunity, i think, if all that comes of it is tiktok changes hands from a Chinese Company to the u. S. One. Kevin, is it clear why tiktok is as dangerous to National Security as say why huawei is . Are there factors that apply to both of them why are we not saying we should be nervous of every single Chinese Company . Why these two . I think the reason that tiktok is in the cross hairs right now is because its popular. I talk to a number of security experts, people who have taken apart, you know, tiktok and reverse engineered it and what they found is that its really no more dangerous than any other chinese owned app. Its subject to the same, rs you know, National Security laws it can be forced to share data with beijing what makes tiktok different is that tens of millions or 100 million americans are using it of its a matter of scale. But i mean, maybe that should suggest why they are the priority to block or investigate or force a sale of but that doesnt mean we shouldnt do the same to the others if there is danger is real, i guess the added factor you could apply, no the that we should make Foreign Policy based on tit for tat actions, but facebook and others were gobanned in chi dlchlt so there is a precedent to retaliate. Exactly the sucht has kind of its own version of chinas great fire wall where, you know, we dont let in foreign own apps from our adversaries. They dont let in american apps. Were seeing this happen in india where they not only banned tiktok but other chinese owned apps i think well see a lot of this in the coming years. Finally, kevin, what do you think microsoft really is after here what do you think theyll do with tiktok . Its not clear to me. Obviously its a very fast growing social network they have a tremendous loyal base of users. Microsoft obviously, you know, has more products geared toward a professional adult demographic than the teenage demographic that largely is served by tiktok this will be an interesting addition to the slate of products i also think the core technology, if they do end up acquiring not just the tiktok user base and the ip, but actually the algorithms that run the service that can be valuable in a number of ways. I think its still to be seen what would and wouldnt be included in a microsoft acquisition of tiktok. I think they could get a lot out of it. Kevin roose, thank you for joining us thanks for having me. Of. Great column. Mike is up almost 5 today weve got just about 43 minutes left of trade. The take a look at the major averages pt april sl having apple is having an impact today. S p 500 is up. 75 were seeing strength beyond Just Technology today in places like health care, industrials, and financials real estate anticipate utilities at the bottom of the list. After the break, it isnt just microsoft andtiktok. Deal activity is ramping up on wall street today with google and apple getting in the action. Well have all the details next on closing bell. As business moves forward, were all changing the way things get done. Like how we redefine collaboration. How we come up with new ways to serve our customers. And deliver our products. But no matter how things change, one thing never will. You can rely on the people and the network of at t. To help keep your business connected. A mastersdgren, youin chemical engineering. , and youre technically a genius. And it appears youre quite the investor. I like to trade. Well, Td Ameritrade has pros ready if you need help, say talking through a new strategy. Just in case things, you know, get a little rocky . Im sorry on the upside i think thats waterproof. Maybe not. Just pulled back a fraction. Up. 75 on the s p 500 we got news crossing on the stimulus talks talks broke with no progress to report. Just a few moments ago we saw the treasury secretary, the speaker of the house, the white house chief of staff and the Top Senate Democrat all leaving the Speakers Office after more than two hours of negotiating they said the talks are done for the day. Senator schumer said that over the past couple of hours they went through each of their proposals in detail explaining where each dollar will go. The proposal is 3 trillion. Republicans is 1 trillion schumer says it will take a bit longer to reach the deal that he says the virus and the economy at this moment demand. When asked about unemployment and what happens to people who are unemployed and are waiting for some sort of supplement from the government, he said its going to take a little longer. Back to you. All right keep us posted thank you. M. After showing signs of life today with a flurry of fresh deal announcements merger monday. Marathon will sell the speedway dw gas station chain. It is the largest corporate deal in the oil sector since the start of the pandemic. Siemens healthineers getting into cancer care theyre going to buy varia medical. And big tech, apple further solidifying the place in the payments world with a 100 million purchase of mobeewave. They can make payments by tapping one iphone to another. And alphabet buying adt. Adt says the deal will combine the nest products with adts installation and security monitoring services. Adt up more than 60 at one point, i mean, yeah, you have apple and going until there we know those are the haves. But interesting to have a health care and oil deal. Interesting that activity is happening despite the huge uncertainty out there in the economy. For sure. I think among other things, it says that companies have been sort of hunkered down for a few months and most of them who are no longer really in survival mode, theyre assessing what assets they have do they need cash . Do they want to be open opportunist opportunistic through m a. There was a drought in deal activity in the heart of the covid19 shutdown crisis and thats probably getting relaxed a little bit right now also, Capital Markets are flush. The if you need debt to pay for a deal, its there for you most likely i think it tells you its somewhat normal level of risk taking on the corporate front. And along with those divestitures of companies that really feel as if they need to pad their Balance Sheets by selling something for catch. The move in adt is really striking i wonder if they should have bought the whole company the other point im going to make, mike, is that this morning with david faber, he said that its not typical you see such a spike in m a activity. We havent seen whether the spike in m a is meaningful and will will continue or not. But it is certainly the start of something. And i just look at the investment banks they had killer numbers for q1 and q2 without m a being present. If you ghet in q3 and q4, it may round off a fantastic full year for the investment banks if they can offset any of the trading activity that might plateau. Kind of, you know, really busy on a lot of different fronts the Capital Raising side and restructuring and m a. One of the reasons i think ken mueller is talking about you dont usually see these things happening in parallel is the Central Banks have short circuited the cycle to some degree yes, there is Companies Falling by the way side. Theyll have to restructure. But on the other side of it, kind of keeping a lot of the debt markets afloat was definitely instrumental in getting companies able to do growth deals the other thing with the microsoft tiktok deal potentially happening, its not happened yet, so rare to have a deal that so widely leaked and talked about before its happened and, yet, people still talking about onest reasons it may happen is such a cheap price you think typically if that had happened, the buyer would be like well now we put off everyone knows about it. The price is higher. Its a unique situation that its still likely fit goes ahead to be a reduced price as opposed to a premium price. 45day deadline and buyer that cant be outbid is going to forestall a bidding war in this one. Right and the potential antitrust concerns with any of the other people that might have possibly be interested in a normal environment as everyones pointed out coming the week after an antitrust hearing on capitol hill for this sort of broad area of the tech market. Anyway, we have got, what, 35 minutes left of the session. Were up 1 on the dow more than that on the nasdaq set for a record close Rapid Reliable Testing is one of the major factors needed to get americans back to work safely. Well speak to the ceo of a company that is committed to returning results in 48 hours or less heres a check on bonds. More than 100,000 new cases of coronavirus reported this weekend bringing the total to 4. 6 million. The death toll to 155,000. Rhode island, hawaii, and massachusetts seeing more than 30 increase in in seven day average of cases alabama notching the highest Positivity Rate in the u. S. At 22 after adding more than 2,000 cases. Internationally, the virus also causing more shutdowns the philippine capital of manila returning to stricter lockdowns. Australia declaring a state of disaster necessity reinstructions including a nightly curfew and the w had ho saying that although there are many vaccine candidates, there is no Silver Bullet at the moment and there may never be on the treatment front, eli lilly is going to begin stage three trials studying whether they can prevent the spread in Nursing Homes. Sara thats really important this is the antibodies that a lot of the doctors are excited about. Theyre being tested here. Not just to treat the disease. The so cant come soon enough. Time now for a cnbc news update hello, everybody. Dr. Anthony fauci recommending that schools not be open in coronavirus hot spots. Schools should be trying to return kids to the classroom but there are some areas where the level of outbreaks make reopenings not prudent in afghanistan, a prison that was tacked by militants affiliated with Islamic State is back under government control. At least 39 people died including the assailants nearly 400 Islamic State fighters were freed before order was restored in the ukraine, a bizarre story. A man entered a bank, took hostages and threatened to blow everybody up if his demands werent met. He asked for a news crew to be brought in so he could air his grievances officers took advantage of the situation, captured the hostage taker while he sat for the interview. Youre up today. Thats the news update this hour sara, back to you. Thats a weird one. Sue, thanks. Fl. Weve got just about 30 minutes left before the closing bell heres where we stand. Strong across the board. Dow is up 254. S p 500 up poil po. 8 . Russell 2000 is the winner so far of the session up almost 2 still ahead, winner, winner Chicken Dinner well tell which you restaurant name managed to climb nearly 90 this year despite the pandemics impact on the sector that is a hint for you plus, well speak with rick rieder well be right back. [squeaky shopping cart] [sniffing] is the salmon wildcaught . She only eats wild caught. [cash register beeps] uh, i need a price check on honey. Dont get mad. Get e trade and get more than just trading. Investing. Banking. Guidance. Get snhu lets you transfer up to 90 creditsing. [announcer] if youve tried college but never finished, toward your bachelors degree. [woman] it doesnt matter how old you are, you can do it. You can finish. [announcer] finish your degree at snhu. Edu. Welcome back check out big work from home and learn from home winners to day zoom, docusign chegg building. Cheggs move, Earnings Report comes after the clo ez today all up 4 to 5 speaking of winners, shares of wing stop have handedly outperformed the market this year up more than 80 despite concerns about the pandemic and the impact on restaurants. We have certainly seen kate rogers has a look at how wing stop in particular, kate, managed to soar. Hey, sara thats right its a really simple menu and Business Model for wing stop which relies really heavily on carry out and delivery they got some 1400 locations around the country they do also work with delivery people like door dash and uber eats the company which is heavily franchised saw the samestore sales cliz ose by 32 they saw sales increase to 64 to overall sales theyre opening up new locations and seen momentum remain even as dining rooms begin to reopen in certain areas of the country analysts say this is really a stock here that is positioned for the holong haul. They work well in a faster and slower reopening narrative as you mentioned, wing stop is up over 85 year to date that is more than double some of the gains of the best performing peers in the restaurant space. Back to you. Huge gains there. Kate rogers, thank you very much for that lawmakers have wrapped up their relief talks today with no resolution as unemployment aid and Company Liability protections remain major sticking points. When a deal does get done, how could the next round of Government Spending impact your portfolio . Joining us, rick reider from Global Fixed Income and also blackrock oversees 2. 4 trillio in assets. Are we seeing a snapshot today and the last week in the way the market has more about the existence of monetary stimulus than it cares about fiscal stimulus or does the market just think that this fiscal stimulus bill will get done some day soon i think its both i think the markets today are assuming there is going to be some fiscal stimulus exceeding a trillion dollars thats going to come into the system i think the market understand theres is som welcome whaback time for a cnbc update hello, everybody. Heres whats happening at thi hour of u. S. Dirict judge speaking out for the First Time Since a disgruntled lawyer of she is calling for protections that will help stop others from tracking down and atcking judges msons death cannot be vaine empowered to dsomething to help my brothers and sisters on the bench. Now, more than ever, we need to s private. The. And in new yo in the 9 11 attacks. The leader of e Greek Orthodox church gave a blessing with new yorks Governor Andrew Cuomo also in attendance ure will. Up next, getting back to Work Companies facing a big challenge as they start bringing empyees back inttheir offi diagnostics toake at home testing at c, we get that employees working from the road ara major security concern. Cdcan assess your needs, then design and implement a secure Mobility Solution using the hp elitebook powered by intel 8th generation core processors. The hp elitebook features groundbreaking builtin security, like sure view to thwart visual hacking and cdw configures them to your companys specs. For mobile security, you nd hp and it orchestration by cdw. [intel jingle] Companies Must figure out safely bring employees back Kroger Health has teamed up with Gravity Diagnostics. Its a small lab in kentucky for an at home covid19 testing kit. Kroger employees who feel mpms can request a kit, get tested and have results in it less than 48 hours of the lab receiving the sample gravity also works with the state of kentucky testing front line workers in hospitals and Nursing Homes and so far has run nearly 400,000 tests joining us now is tony recommending remington. I love the teaming up of Northern Kentucky company and, you know, cincinnatis kroger on testing employees. How is it going . How do you ramp that up even more first of all, thank you for having me. I saw the local connection i appreciate that a lot. And thats really been ouremplo really in the beginning it was the rsink to normal. So we actually gone om 20 samples a day to over 9,000 on friday, july 31st was our largest day ever we quadrled our ace. We hired 150 people. And really done everhing we could to be a part of the sotion so how your buness different than, say, a qwest or a labcorp . Thats grae question. I comment during this pandemic were signal and nble and nextible i use the analogy of airlines, jetblue and southwest can come in and pick and choose the routes they select delta and american had to kind we just been really, really and making sure we dont xblo r s. That is a difference between us d the big labs tony, what do people have to do in order to carry out the test at home and are you confident that they do whatever is required of them perfectly and that the results perfectly is. Rate yeah. You know, ive always since day one i say always, itseen four months i always said, you know, everyones doing the best they can, sharing positive stors. Everyones intent is really good what i love abou well, im just curious, tony, if youre giving advice to other companies, i mean kroger is trying to figure this out. Everyone is trying to figure this out as they bring employees back do employees have to stay home from work when they take a test and wait for the results because if it takes two days, isnt that a long time to stay home in addition to however long they may have to stay home to get better yeah. You know, ive had conversations with every possible person i dont have the answers im not a phd or doctor. Im someone that cares and is trying to help i think what it comes down to is having an algorithm that is consistent so social distancing, all the things we read about every day are really important then the testing methodology and, you know, choices you make is really up to the employer what i see is that if youre a manufacturing plant and someone is symptomatic, theymight take two weeks to come back to work they may not get a test for seven days and you los so i think there is value in getting that kit to the home when someones symptomatic, keeping them out of the public eye. If you feel symptoms, instead of going to the doctor an kit in your home. So huge role for home testing again, we do all the icus and all the Nursing Homes and thats where we prioritize our capacity but i think the home testing has a huge role in getting america back to work and back to school and back to sports and everything else. Tony, thank you so much for joining us thanks for having me. Take care. Still ahead, the Eviction Moratorium is now expired and august rent is officially due. Well discuss the paimct on the Real Estate Market thats coming up next. Skbrierk you should be mad your neighbor always wants to hang out. And you should be mad your smart fridge is unnecessarily complicated. Make ice. Making ice. But youre not mad because you have e trade which isnt complicated. Their tools make trading quicker and simpler so you can take on the markets with confidence. Dont get mad get e trade and start Trading Commission free today. Dont get mad get e trade and start trading what happens when puts its customers in charge . Well, the good news gets shared. And it gets rated 1 for customer satisfaction. But dont just take our word for it. Take theirs. Its your wireless. Your rules. Only with xfinity mobile. Call, click or visit a store today. Up next, a major real estate risk the Eviction Moratorium has officially expired with no extension in sight the big impact this could have on the Housing Market straight ahead. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. For as little as 5, now anyone can own companies in the s p 500, even if their shares cost more. At 5 a slice, you could own Ten Companies for 50 instead of paying thousands. All Commission Free online. Schwab stock slices an easy way to start investing or to give the gift of stock ownership. Schwab. Own your tomorrow. August rents are due now, and the moratorium on evisas expired without being extended by congress. Diana is here with more on this and how it could impact the whole Housing Market thats right, sara, and the extra Unemployment Benefits expired as well. Without both, close to 30 million tenants are in danger of being evicted by the end of the year, and that is according to aspen institute. Now, the biggest landlords are offering concessions to tenants, but some are still seeing solid rent payments, likely due to that added unemployment benefit that is now gone one of the largest Single Family rental reets, invitation homes, just reported q2 earnings and said occupancy climbed to a record high. Rent growth was also strong. But multifamily reet avenue lon b avalon bay reported a rough q2 renters are shifting from urban to lower cost sub markets or moving in with family. Record low Mortgage Rates and the need for space are increasing demand for Single Family homes so you see that shift in rentals from the multifamily to the Single Family and Going Forward, we still dont know whats going to happen yet with any kind of renter relief and people are using that relief to pay the rent just quickly, it might be a stupid question, but even if the moratorium has expired, what are the chances that landlords decide to continue to sort of let renters off making payments in the shortterm. Reporter well, landlords are doing what they can for now but the mom and pop landlords, which make up about a half of the rental market, they have mortgages to pay they have property taxes to pay. They have to pay utilities so, theyre kind of caught between a rock and a hard place. For the larger guys, it might be a bit easier but remember, what the republicans are talking about extending that Eviction Moratorium on properties with mortgages backed by the federal government, that is only about a third of the market, not even a third so it is not nearly the entire problem Going Forward diana, thank you. And that brings us to the final wrapup of the market here where we saw a day where the nasdaq reaches a record high the s p 500 closes within 3 of its own record high. Mike, you know, the Housing Market, diana just painted the picture of the have and the have not on housing as well and the renters market and these evictions that are coming. At the same time, new home sales are booming. Its, in a way, like so many other things were seeing in this economy, if youre in one pocket of whats working, whether its stayathome stocks or the nasdaq, its so different. Its a completely opposite story than those that arent also a reminder that there are losses accumulating inside this economy in various areas. So you see the residential reet stocks, way under their highs, 20 off their highs. Theyre going to be punished if theres not a fix on the Eviction Moratorium or Something Like that. It is definitely an uneven market were not all kind of benefitting from the same forces, and i do think thats probably going to continue the real question is, have the huge tech stocks, do people think are good in any environment, are they getting distorted and are they distorting the market because people are kind of just extrapolating what theyve been able to do in the last six months fundamentally way into the future but mike, i guess the quick takeaway in the last couple of weeks is they pull back a lot less than they rise when theres bad news versus good news. Thats what they have done, yeah, and really, the question is, you know, each time this happens, they get incrementally more expensive, they get incrementally perhaps more overowned and overbought i dont think its at a critical moment right now but at some point there is going to be an answer to that question of can we really bank on these companies to keep earning at these levels you saw just there, nasdaq comp up 1. 5 today, another record close for that index, strong gains for the s p and dow as well. Were out of time. Fast money starts now. Im melissa lee and this is fast money. Tonight on fast, a summer sizzler. Stocks jump as we kick off a new trading month, the nasdaq closing at a new report high well break down what is in store for your money in august straight ahead plus another ev maker going public and later, a bitcoin blitz, why bk says the cryptocurrency is about to head, you guessed it, even higher. But we start off with a deal that has got wall