A new emerging of a possible buyer of tiktok. More challenges for boeing as it continues to deal with the fallout from the pandemic and the 737 max woes it is tuesday august 18 and this is Worldwide Exchange. Good morning. Good afternoon good evening perhaps that song will get you, you know, jumping. Why not . Global markets are setting up their tuesdays stock futures slightly higher right now. They are in the green investor focus on the dow remains on the s p 500 a half a percent from the alltime record high if you are counting at home, any close above 3386. 15 would be a record close stop us if youve heard this one before one area not waiting around is technology the nasdaq pushing to a record high the 37th high of the year and 33rd record close of 2020. Once again leading technology, tesla. Another record high. By the way, also adding another 8 billion to elon musks personal fortune pushing him back on the list tesla shares up 32 in just five days 32 in five days hey, maybe that recent five for one stock split helping power some of those gains. You cannot forget about apple. It howevers below a 2 trillion market cap again, apple needs to close at 467. 77 or above to reach that milestone. So about 75 for apple to get to 2 trillion. We are watching oil. It is trading off the highest level since march. Opecs Technical Committee will meet today a slightly bigger meeting tomorrow and likely keep on the 7. 7 milli 7. 7 million per day output. You can see that is mixed but all eyes on oil are on opec. Kicking off the hour with geoff cutmore. European equities have reversed some losses with travel and leisure stocks leading the gains. Banks are higher after starting 1 lower there was a mixed hand from asia in the mixed prices. The nikkei in the red. A volatile session for retailers. Marks and spencer will be familiar to you. Shares open higher but now weighing on the london market after announcing 7,000 job cuts and another sharp cut in clothing and home sales. Bhp mining giant under pressure after the company said demand will remain depressed in china after that Company Reported a drop in fullyear earnings having said that, the rest of the Mining Sector in europe is doing a little better. Asking itself the question, is this a bhp story or a bigger commodity space story. Brian, back to you still some questions there on bhp back to you, buddy back here, a little more optimism surrounding covid19 and the sun belt states. Frank with us. Good morning hospital admissions from covid19 from florida to texas are trending in the right direction from the peak of outbreaks since this summer. Reporting that 5,000 people are currently being treated in hospitals. 41 fewer than a day earlier and decrease of more than 1,000 in less than a week texas and arizona also seeing cases decline. The state now has 6,000 cases down from 10,000 last month. Turning to washington, House Democrats to vote on a bill that would ban operational changes to the u. S. Postal service until well after the november election it would add 25 million to the post office as the postmaster general has agreed to testify to the House Oversight committee next week. Trump administration is tightening on huawei the limits first announced back in may and prevented the company from obtaining semiconductors without a special license. They are adding 38 affiliates to the black list raising the total to 152 affiliates. Back to you. Maybe a little good news there on covid19. Thank you. Lets get back now to the markets. If at first, you do not succeed, try, try again the s p has tried and failed three times. Kick out that failed close from february history is on the market side. Finding wherever the s p 500 previously closed within 1 of the new high would need an eclipse of eight calendar days following the bear market of 20002002. All the rest of eight days or fewer. Welcome in the president of potomac wealth advisors. There are lies and statistics. What do you make of the s p 500 . Do you think it will make a record high and by the way, does it matter . It will make a record high. To some shortterm technicians it will matter to others,ing the question is, will it stay there there is no alternative to asset stocks looking past the bad news. We know unemployment around 10 over the market changing higher thinking that there is pent up demand they are running efficiently wab we have a decent 2021 with strong corporate profits there is this push and pull right now and right now, the optimism is waeg out all good arguments waiting for the bottom to drop out. It keeps going higher. The most hatest bull market ever right i was thinking about big retail and why they are doing so well and why the earnings there are so strong. The reality is if you would have said a year ago that great percentage of mom and pop and independent retailers would basically be shut down, we would realize everyone would go shop at target, walmart or amazon that has proven to be a big puft creating a disconnect to the underlying economy which is a big percent of the turn and shut down investors should look at the earnings and where the money is going and thats where the returns should follow . We would broadly diversify. Other sectors will participate if you want to play some beaten down sectors there will be opportunity in travel and leisure if you think well get a vaccine. I think you stay invested and broadly diversify but do not abandon. Great chat there. Good to see you. When we come back, call this lar larry versus nadella the latest and maybe a surprise bidder pintrest being called on claims and unequality in the work place. Strong words from the former first Lady Michelle obama. Highlights and investor take aways. A busy hour rolls on after this. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. Welcome to camp tonsafun on xfinity its summer camp, but in your living room. Learn how to draw with a minions expert. How to build an indoor Obstacle Course plus. Whatever shes doing. And me, jade cattapreta. The host of es the soup camp tonsafun. Its like summer camp, but minus the poison ivy. Unless you own poison ivy. In which case, why . Just say summer camp into your xfinity voice remote to join. Welcome back the wall street journal is reporting that amazon is reporting more than 3,500 new jobs including 2,000 jobs in new york city. A sign that amazon is making a bet on office work perhaps even as many other Companies Make plans for work from home setups. A report amazon will houseworkers in the building that was once the home of lord and taylor they have said to bought the building fromwe wework for more than 1 billion. Oracle has held preliminary talks with the owner of bytedance for operations in u. S. , canada, australia and new zealand. The latest challenge for microsoft who was the front runner in the bid just days ago. Joining us now, the financial times. Good morning, the story first appeared in your paper what can you tell us about oracles sudden interest it has only happened in the last several hours the story about my colleague in new york and San Francisco is a bit surprised. Not like microsoft has actually had a few things that touched more closely taking more back this morning by this news. You look at share price. It does seem to have had positive reaction. As we are reporting, oracle is teaming up with some existing investors in bytedance and venture capitalist you know there hasnt been too much other than microsoft in the game they really dont have the fire power to get this done and other things to face the problem even then, it wasnt about the confidence in that action. We need to be pleased with the outcome. This is a crazy and complex situation. If you are one of those investors in bytedance, you have to work to get more interest in this because you are not going to get a pricey one. It is interested to see the deep pocketed entrepreneur who is close to the Trump Administration and trump supporter not unlike ted leones. You have two trump pro businessmen there. Im trying to understand. Microsoft does have a consumer facing business. Primarily linkedin and binge oracle is a backend based Software Company i saw the headline and thought why . It is very strange. You could argue it is data play or on Investment Sales force was minutes away from pushing the button to by twitter. So it is not unheard of for these companies to go for something with a ton of data or information about consumers. For oracle, this would be the biggest step there the reaction this morning has a lot of people scratching their heads as to why it has gotten into the mix good stuff there. Very bizarre headline. Maybe bizarre potential deal maybe they want to get their headline splashed. They got it because we are doing this segment have a good day. Cheers. On deck. Forget the usual zillow listing details. You know Granite Counter tops. How about this one, a fully functioning jail that you can buy. Love it or list it a part of the top stories. Dow futures are up 60. We are back after isth lets get a check on other headlines including more record breaking heat in california and the start of the nba playoffs with phillip mena. Good morning. 51 Million People are facing heat alerts in california. On monday, californias governor signed an emergency order to improve power. And the electric grid says it will not start rolling outages Trump Administration plan to open Arctic Refuge home to animals like polar bears and carrabu and believed to be millions of barrels of oil the drilling will take place in the coastal space that spans over a million acres the nba playoffs started with a thrilling overtime game that saw the nuggets pass the jazz and a controversial fowl saw the player ejected in his first playoff game ejected. The clippers went with on to win game one more on the docket today. Im looking forward to the rockets and the thunder. Im a rockets fan as well i know a guy close to the team i will say this, go houston. Go rockets thats right. Still ahead. Apples push to a 2 trillion market cap how much more it needs to go after this milestone Senate Republicans may have a plan to revive the stimulus talks. A live report after this when worwi ehaeetnslddexcng rur i keep working my way back to you, babe with a happiness that died i let it get away servicenow. The smarter way to workflow. Arab archers eagle guards dragon cavalries ninja warriors champion cavalries who will you choose . Make friends and conquer the world. Evony the kings return download now evony the kings return lookentertainmentour experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. Will it be a record tuesday for stocks the s p 500 just points away from making its mark as technology is making its investors money. Donald trump is the wrong president for our country. He has had more than enough time to prove that he can do the job. Democrats kicking off their virtual 2020 convention as a whose who . Party stars make the case for joe biden and Kamala Harris. Elon musk, he keeps getting richer as he moves up on the list of the worlds richest people it is tuesday, august 18 this is Worldwide Exchange. I called and told her a loved her, she didnt care welcome back, i am Brian Sullivan lets hit the Tuesday Morning markets. Futures you can see on the bottom right of your screen. They are in the green. The question is thus will today be the day the s p 500 hits a new record high weve been talking about it for days and now less than half a percent on the record close. Here is the number, 3,386. 15 anything above that would be a record one area that is not waiting around nasdaq pushing to a record high. The 37th high of the year. Leading the charge, tesla. Who else adding another 38 points to the nasdaq and adding another high tesla stock up 32 in just five trading days a lot of money for investors and made a lot of money for elon musk well get more on that cant forget about apple apple stock just below a 2 trillion market cap. To hit that mark, apple has to hit well call it 468 or above to reach that milestone. Were watching oil as well trading on the highest level since march. They meet today and tomorrow theyve got the meeting to discuss where they are now looks like theyll stay put with that cut down from 9. 7 million. Where they see demand and opec cheaters iraq, we are looking at you. Theyll come out of the opec meeting, virtually, of course, is tomorrow. To potential employee buy outs from boeing still continuing to face its own head winds more from frank. Is said to offer a second round of buyouts to employees. These voluntary layoffs will be in the commercial Airline Division they have seen some recovery in the pandemic, the Airline Industry continues to face challenges the department of justice facing an internal disagreement over the possible suit against google expressing concerns of what they feel is an aggressive time line by attorney general william barr receive ron to face an important case in iraq a part of a wave of potential deals. The agreement could be announced later this week when iraqs new Prime Minister visits washington shares of chevron up by still down for the year. Iraq has been the cheater of opec thank you, frank the democrats virtual 2020 Convention Officially under way with night one featuring some of the partys biggest stars making the case for joe biden and Kamala Harris to lead the nation more on the dncs kickoff on a virtual night. Virtual is the key. This was the first president ial the first of these conventions weve seen of this pandemic era and unlike anything weve seen before no crowds. No balloons or funny hats. It was a very different thing but what they did have of course is speeches. Democratsrolled out some of th biggest stars including Bernie Sanders who made the case to his base on the left that they have to rally behind joe biden. Hoo err here is what he said. Even before trumps neglect response to this pandemic, too many working families have been caught on the economic treadmill with no hope of getting ahead. Together, we must build a nation more equitiable, more compassionate and more inclusive. Capping off the evening with former first Lady Michelle obama who is one of the most Popular Figures in the world making the case that joe biden was a great Vice President and will make a great president. Taking a swipe at donald trump for the first time going negative on donald trump saying the Democratic Party still has to go high while the Republican Party is going low if you think things cannot possibly get worse, trust me they can and they will if we dont make a change in this election if we have any hope of ending this chaos, we have to vote for joe biden like our lives depend on it. So brian, a Political Convention unlike anything weve seen before. As you can imagine, republicans taking notes to see what worked and didnt work as they look ahead to their Convention Next week you look youthful and vibrant. I look exhausted because i stayed up and watched it i thought the speech was really good i thought where is the mention of Kamala Harris i thought that was really weird. I guess Michelle Obama recorded her speech before biden made the pick, apparently right a lot of the speeches, you can tell when they were recorded by the coronavirus death toll cited. They were recording these and using different figures. It was difficult watching and trying to figure out which parts had been recorded and when and what was live. Reminded me a little bit of watching sports without a crowd much the political speech without a crowd is not the same. A sports event without a crowd is not the same. There were moments that were really flat because you sort of expected the cheering crowd noise to carry the energy. Republicans will have the same problem next week. It will be interesting to see if they look at this and come up with some Technical Solutions of their own try to figure it out when did that clock behind you say july 12. When did you record this just kidding and more on the potential breakthrough on stimulus talks looking at the idea of more post Office Funding which the speaker of the house wants to vote on on saturday saying why dont we use that as the basis of a skinny bill to do a stimulus here. The idea is to add a couple of elements from the stimulus negotiations to that post office bill and send that off democrats have resisted this idea of anything other than the full 3 trillion plus deal theyve been proposing they want a big, robust bill here nancy pelosi has said republicans dont understand the moment for the u. S. Economy right now. Republicans will try to take a crack at this and well see if democrats go along still early days for proposals to kick back and forth well see what happens eamon javers, live. Thats right. Not pretapped. The first with Steven Mnuchin on the latest stalled stimulus talks now, on the latest action out of d. C. Or lack thereof the press secretary contributor and blues traveler fan great to have you back on the program. I dont know how much of the Virtual Convention you were able to watch given that you were also live on the show. From what you saw or read, what is your take it is a lot more comfortable to be watching from your couch than attending them. Ill be happy if i never have to go to another convention eamon is right it is a challenge to get the multimedia performance in terms of engaging the media. Democrats will be able to take a lesson in some ways to get more people in the screen listening to some of these speeches. You do miss that reaction from live people. Im going to give a shout out to their crews and our crews here at cnbc the heroes in this are the technical staff. To be able to pull that off is truly stunning that aside, i wanted to give a shout out because these guys work so hard and dont get so much credit. At cnbc, everybody doing a great job. The content, do you think it is enough to sway i would say middle ground voters but im not sure there are middle ground voters after three and a half years of the Trump Administration, i would say everybody is in their dugout talking about the Postal Service dominating the news. That was a theme last night. Youll see democrats continue with this statement. Despite all of our jokes about the Postal Service over the years and newman on seinfeld, people love the post office. They like their Postal Service delivered and the price of it. They may have some frustrations here or there but they do not want people to think about attacking the post office or taking away boxes. The images are striking home and thats why they are offering some opportunity to try to fill this hole that they have listen, i remember doing stories about billion dollar losses in 2002 it was a congressional act in 2007 anybody who thinks the post Office Finances are a new story. It isnt. It is the farthest thing. Why not cut off junk mail for a week thinking junk mail is over half our mail 40 of mail is actually never opened why not just ban junk mail for a couple of weeks around the election to clear the pipeline my idea. I thought kind of an easy fix. Maybe. Maybe there is the buzz side of it people are paying for those deliveries we want to be able to encourage commercial activity too as long as people can continue to do that through things like catalogs and the mail. We want to encourage it. There is this basic view that the post office is run like a business it really is not a business. It is a utility we cant do that. But we need to find some ways to make it functional at least through the election americans love the post office, by the way it is the highest rated federal agency not close. It is a big step down to number two. People love the post office. The latest to be the political hot button always a pleasure to get your views, sir thank you very much. Take care coming up. In the market for a new home what we do when we have the house for you including one with all the amenities. Everything you want including a private jail thats next. First, we head to break. Some other top stories quest offering an update on covid testing. Saying the average turn around time one to two days expects to get up to 185,000 a day by labor day starbucks is cutting Seating Capacity in caves in south korea amid new spike in cases there and will delay propositional events carnival says investigating a ransom wear attack on one of its systems. In a filing, the company disclosed the attack and personal data of guests and employees. Shares not being affected. Up now 1. 5 . The dow futurears e up 38. Back after this. I keep working my way back to you, babe with a happiness that died i let it get away servicenow. The smarter way to workflow. Welcome back and good morning. The soothing tones of jail break. There is a reason we are playing that nasdaq up 40 as well the question is whether or not well hit a new high on the return a good point. Well start with elon musk now the fourth richest person after tesla shares surged. Tacking on another 7. 8 billion to the wealth of elon musk hes moved past french luxury tycoon now within 15 billion of eclipsing the third richest person, Facebooks Mark Zuckerberg pintrest adding its first black person to the board after pintrest was hit with allegations of racism in the work place employees tried walk out in protest on friday. Allegations of mistreatment by two former employees more real estate news. This house in missouri, it would be a crime to pass it up for 350,000, you get two bedrooms, two baths, hard wood floors and it appears to be a fully functioning jail this was originally the Howard CountySheriffs Office and jail including nine cells, a booking room and half bath among several buildings in the paurt of National Register of historic places. Originally posted on ebay and restored missouri 1875, it could have housed jesse james by the way, bernard i do speak french you would never imagine. I speak enough to be dangerous so continental. I also like french food and french wine. Merci. Ill see you later. On deck, call it the Campbell Soup slowdown the recent rally could be nearing an end laying out the trade and coming up next. Wel e lseyou on the other side of this short break. Stick around at leaf blowers. 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. Welcome back lets talk about the Consumer Staples stock theyve been on fire as a result of the pandemic and lockdowns. When it comes to things like toilet paper, dish pope. Things like that, we have to buy them no matter what. Looking at this chart, you can see moves we are talking about what we have seen is this notion of an outperformance in these types of stocks. You can see that here in the covid lows and that peak down, that yellow line which is Consumer Staples outperforms you can see the blue line starting to outperform given the fact that we are in recovery we want to look at the valuations this is how much you pay in stock price for every dollar of anticipated earnings in the coming here. The better part of the last d k decade that blue line, people are willing to pay more for some of these safeties including dividend but check this out the s p 500 now trades at a premium to the Consumer Staples. There has been a lot of emphasis for the decade the question now becomes whether or not we think Consumer Staples have had their run end because people are not as focused on them a big question for people out there especially with Interest Rates near zero again. On that note, low Interest Rates means investors are willing to pay up because of the equity risk premium. They do that plays out over the course of the last decade why is there a renewed focus on some of those markets. People are more focused on the growth aspects or willing to accept things that are not as hefty. One of the dynamics that is curious here the premium valuations will be one we watch for sure. Staples that way for a decade now. A good question thank you. Why dont we get that question and more answered right now. Maybe you can answer that. You just wrote a big piece about walmart as well investors really dont seem to care that much about values right now you talk about stocks and walmart in particular. They are the big winners in covid. Drawing investors more than anything else is the fact that these retailers and some other technology, ill make that parallel not only have had an opportunity to stay open and grow their businesses but they are doing so in a way that i think they are going to keep clients permanently. Theyve had an amazing opportunity to show what they can do through customer service, delivery, et cetera. Because of that, you are saying, okay longer term, who are the stocks not only doing well but have an opportunity to do well no matter what happens thats drawing clients in. This is one where you are truly trading off future valuations and the fact that business can expand even after we reopen. I think some of the fears is that some wont be able to keep clients. I dont see a reason many of these cant. It will be the ones that succeed and everybody else goes away unfortunate for so many millions as well. I guess thats a different segment or argument. Back to the equity markets here. Likely to hit a new record does it mean anything other than making a nice headline any technical or chart significant do it . You brought up a great point. You look at the valuation and think this is a way that this is sustainable or in no way happening. I also think you have to look at this people dont have a great choice with their money right now stocks continue to do well 70 basis points, i dont think it is exciting anybody it is a more conservative route. As the population turns older, people are looking for returns many people near retirement, they are saying, i would much rather put their money in equity that has a chance for capital depreciation so even if that isnt a traditional rate, you are still beating a 10year. With that, quality stocks have drawn people more than ever because they dont have great alternatives with their money. Isnt that amazing. For years, weve talked about it for years. The bear argument was, well, the baby boomers are going to sell all their stocks a lot of people i know in 70s and 80s, advisors keep pushing them into equities baby boomers are not selling stocks they are probably buying them. You think about your parents in the 70s you think 100 minus your age when we first started talking a year ago, they would have been 30 equity 70 bond im guessing that is not the mix now. We are maybe 50 50 or even more because the bond market isnt giving them the return they need to continue to live. Pretty amazing. Everybody is powering equities well see how long it will last and enjoy the ride while it does thank you very much. Thanks, brian. That does it for us on Worldwide Exchange and me for the rest of the week ill see you on fast money at 5 00 squawk xs sobo ial next now. Dow futures are higher take care. Hey, kids welcome to camp tonsafun on xfinity its summer camp, but in your living room. Learn how to draw with a minions expert. How to build an indoor Obstacle Course plus. Whatever shes doing. And me, jade cattapreta. The host of es the soup camp tonsafun. Its like summer camp, but minus the poison ivy. Unless you own poison ivy. In which case, why . Just say summer camp into your xfinity voice remote to join. Good morning the nasdaq logging the 33rd record close of the year and s p about four point as way from a record. The clock is ticking for tiktok to find a buyer before getting banned by the Trump Administration oracle exploring a deal. A boom in Home Renovations i know all about this. Expected to drive record sales growth for home depot. That report to hit the tape. Any minute now squawk box begins right now good morning, everybody im becky quick along with joe kernen andrew is out today. It has been a couple of weeks since ive seen you. I miss you good to hear you havent lost your whit