Out. The billionaire Tilman Fertitta will be here power lunch starts right now the dow making major moves to keep up with the changing times and the changing economy bob is looking at the moves and how they will affect the markets. Bob a bit of a shake up in the dow but the moves make some sense. Let me explain why lets take it piece by piece first we have salesforce. Com replacing exxon mobile the apple split has reduced the tech weighting in the dow and we need more Technology Sales force reflect the growing importance of Software Overall in the u. S. Economy. You dont need two Oil Companies in the dow you dont need exxon and chevron with energy only 3 of the s p one of them chevron will do. Lets look at the dow industrials. Pfizer is the lowest stock price in the dow the price would be even lower. Another reason to move it away amgen is reflecting the growing importance of the biotech space. This sounds like two industrial swaps and they are theytheon overlaps a bit with boeing now, again, these changes are conservative but not baffling. Look at the dow shake up here. The stuff thats being added is nicely on the upside today thats kind of interesting the stuff thats being deleted thats exxon, pfizer and raytheon, all three are on the down side. Everybody is betting the stuff is coming out of the dow the dow has very little money index to it. I wouldnt put too much emphasis on any of these moves today. In fact, if you look at actual amount of money thats linked to the Dow Jones Industrial average, its about 31 billion. Thats nothing compared to the s p 500. Theres about 11 trillion that indexed to the s p look at that difference. 31 billion versus 11 trillion. Its really the s p that matters in these types of things we like to follow it because we all love the dow back to you. I guess we love the dow some of the time, dont we. Thanks very much Quincy Crosby is chief Market Strategist with prudential financial. Quin quincy, why we care so much about the dow . Its not the one the pros like you follow that is one reason why we see this change taking place next week one reason why pros dont like it why does it have such weight in the publics mind . It just does. Its main streets index another thing, what is really interesting is when we get calls from around the world to give a comment about the days market performance, they ask about the dow and we follow up and see where we its the dow you know what happens when the dow makes a new high that big round high. The market stop. The balloons come out. Its the dow it represents america. It represents old america and more and more its representing new america as it moves more and more toward Technology Even honeywell they want to be Software Industry its changing, evolving and main street loves it. I guess, paul, its really a question of history and really good branding behind the dow here in part because apple which in term of its price will be quartered. Yes i think the sector weightings go more in line with the s p 500. Hopefully it will track that index a little better. The additions and the sub str subtractions arent the big story with the way the dow be look its the split of apple that will be 4 for 1. So far this year, apple is contributed about 1500 points to the dow. Post split, if the stock went to zero between next monday and year end, the negative impact would be about 850 points. If that happened, it wouldnt happen apple would still have a 2 positive weight on the index for the entire year just because of the stock split. Stock splits are meaningless for a Company Fundamentals for the dow, they mean a lot as far as the individual companies are concerned, bob was talking about it earlier and quincy was just mentioning it. Theres not a lot of money index to the dow so its a seal of approval one year later they saw declines on median basis. The stocks tend to go down more often than they didnt stocks, the stocks removed saw similar inventory. Let me make sure im understanding because i was going to ask you should i buy these stocks that are going in because they are going in and sell the ones that are going out. Youre telling me, that history tells the us that if you buy the ones that go in, you lose money over next year if you buy the ones that go out, you lose money over the next year yeah, you lose slightly less on immediate ymedian basis and e ones that come out for stocks in the last 20 years, you look at United Health which has been Great Success story the stock did well after it was added. Then you have stocks like aig and bank of america which shouldnt last six years in the index because they went down so much and had such low prices so they got removed you wouldnt read too much into these additions and subtracti s subtractions just going back to 1999, we were talking how the dow likes to wait and see how things progress microsoft and intel were added in 1999 when those stocks were near their peaks now were getting into software with the First Software stock added to the dow thats something to watch Going Forward as well. Right we just answered the question, should you buy them as a group are the ones going in, is there one or more of them that you like as a potential investment even though history suggests that the median is that they decline over the next year i mentioned honeywell it does well as the economy heals. Its a strong company. They are cutting costs they have tremendous cash flow the dividends are atraktractived you have a new ceo who is more and more transitioning toward Software Company they want to be in both camps and seem to be successful. I do want to mention what about the dogs of the dow. People love to hear about the dogs of the dow once we turn the new year thanks very much for your insights we appreciate it very much kelly. Lets focus on the dows newest tech heavy weight a big day for cloud stock sales force. You have earnings after the bell what practical significance do you think that has for investors . I just think its great sales force is a leader in the cloud. They have a charismatic ceo who helps us lead through a lot of the challenges that we been having in the industry i think its terrific. I want to ask as well about there were some critics who said if they are looking to add a tech name, why not add facebook. Why not add alphabet those are tightly controlled founder companies. Why is his Ownership Structure a little more hands off . They are the clear leader, a clear play for b to b cloud Enterprise Sales mark has really innovated in that area and shown the path that so many other companies have followed. I think its well deserved it does indicate how essential Services Like sales force have become. Lets turn to ternings today and what your expectations are there. What are you going to be listening for . Two big picture things. Have they been able to accelerate the growth in the business and the key metric is something called crpo or bookings secondly, are they able to show margin upside . One of the complaints is their margins have been stuck in the same area for the last three years. Particularly now that theres no dream force, very lit travel no sales people entertaining clients, are they going to be able to show meaningful up side in terms of make money we have just been talking about how companies are added to the dow only once they are kind of so obvious that they are almost utilities thats usually after the biggest profit making days have happened what would Main Business threats be at this point they dont continue they have to keep coming up new products that solve their customers problem and not let the little upstarts come up with Better Solutions and do a better job serving their customers needs. Well see if they can squash some of those concerns thank you. Thank you for having me ty should be fascinating thank you. Coming up, new home sales surging to the highest level since december of 2006 home prices rise and the Housing Market continues to be a bright spot for the economy is it a sign American Cities are in for more pain we will discuss that best buy reporting a 242 jump you heard me right in online sales. The stock falling from record highs after warning its growth is slowing did the stock come too far, too fast well explore that one when power lunch returns after this quk ea icbrk. The Housing Market is staying hot as people continue to flee the big cities for the suburbs. Reporters are all over this story. Diana tracking the migration and Steve Liesman looking at what the future could hold for the big cities reporter sale s of newly built homes jumped to a 13 high in july. A new need for bigger, more hightech homes gave the billers a major boost. July sales were up 36 annually causing supplies to drop dramatically and prices to jump 7 the numbers are bigger in colorado where builders like Oakwood Homes are seeing an influx of buyers across the country but especially in california new home sales were up 80 oakwood builds in several colorado markets and ceo says 7 out of 10 of his out of state buyers are from california its just so much more affordable to live in colorado cost of their work force is going to be less and the quality of life is awesome reporter all this demand is pushing home Prices Higher in colorado now as the supply of existing homes fall. Denver prices were up 7 annually in august its already been hot for quite some time. I can only imagine kelly, theres actually a good bit of Research Back up the immedia comedian Jerry Seinfeld that areas will bounce back people have been fleeing cities during epidemics for just about as holong as theres been citie but they come back mark frong found heavily affected areas recover in price and rent price growth return to their National Growth paths within a few years after an epidem epidemic on average they found housing prices in cities hit by pande c pandemics fall 5. 5 in first year another 4 the year after. Housing and rental prices after a few years rebounded to price that, where else will you see a price chart of housing in in 19th century, if not on cnbc new migrants underpin the rebound as infrastructure upgrades made by cities to enhance the quality of life after the pandemics. Technology and work from home present a new and bigger challenge. These technologies have been around for a while the attraction of cities of social, cultural and economic. The real city killer, violence that could lead to a serious lasting exodus from the metro area to me thats why this time not to focus so much on new york but as a follow up this time could be a little different from previous pandemics because you had citijournal last summer calling it the new disorder. You had people concerned about disorder in the city well before the pandemic and anything thats happened this year don pebbles was on the show on friday and he said he thinks it will take new york a decade or more to recover because they were losing affordability and becoming less business friendly coming into this ill let diane field the affordability issue. You cant say somebody is not going to do something until you tell me the price theyre not going to do it at. Those rates remain below where they were at times when cities have done well the hope is from all the articles i read this is a temporary phenomenon linked to the epidemic it may go away when the shutdowns end. Do we know, just quickly, whether jerry wrote that column from his house in the hamptons probably. If you go back, there are wonderful stories. Grenwich village had a boom time when they fled manhattan they were fleeing a cholera epidemic sg kwhast happeni sg. Kwhast happwhats happening. Area the story over the past 25 or 30 years have been the growth of going out in hay market in virginia and frederick in maryland and beyond. What is the activity in the suburbs right now . What are the prices doing . Is there a lot of pressure upward on prices in d. C. Theres a lot of pressure you have to separate steve is talking about new york city new york had a lot of problems before the pandemic ever struck. That was very, very high prices and also incredible over building of condos, apartment rentals. Sky high prices for thousands and thousands of units its like what happened to miami back in 2006 you look at d. C. , its a very healthy market a lot of Real Estate Agents will tell you yes youre seeing urban flight from new york city and from San Francisco because of high prices there. Because tech workers can now work from anywhere in most nay jmajor cities theres healthy growth in the downtown im in the city proper right now. You have Single Family homes where the inventory is low prices are going high and in the suburbs just a couple of miles north of here and south of here, prices very, very strong because there is so little supply. I think youll have to look at new york city and San Francisco as very separate entities to the rest of the country. Yes theres some urban flight but not nearly what were seeing in those two cities in the rest of the country also as you consider d. C. , it is not as vertical a Living Environment as new york is youve got a lot more neighborhood like the one youre standing in right now where they are Single Family homes. Reporter exactly thats what people want now. Youre seeing a ton of remodelling in neighborhoods like this one. People expanding, putting in backyard, tiny homes to expand spaces you see more construction downtown those condos might suffer a little bit right now but d. C. Always comes back from whatever it gets into you see more violence downtown d. C. Has been very popular because of the protests and the black lives matter action that we saw downtown and writing it on the street down there people are really feeling good about the city now youre seeingpeople moving int the downtown as well as into the suburbs. I think you have to go city to city and look at whats happening. New york city, San Francisco, very different entities. Thank you very much we appreciate the time today and the insight. For more on the future of american city, well talk to tilman in houston. Hell explain what it takes for his businesses to survive and thrive hes coming up shortly tuesdays with tilman. Facebook a record high getting a new price target the traders will tell you if there is still time to buy should you chase the face. More power lunch next. 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. Welcome back were getting news on teva pharmaceuticals. Stock is down about 4 . Thats coming off news from a bloomberg report teva rebuffed a settlement offer from the doj earlier the charges may be felt as soon as today thats according to people familiar now you see the stock down closer to 5 its been rapidly falling in the last couple of minutes the story has been going on for quite some time. We had the news in july about how the judge was going to put that case forward and we knew teva would be the First Company affected here. We see the charges my come as soon as today. Back to you. Thank you tyler. Over to you. The bulls are getting more bullish on high flying stocks. Analysts getting street high price targets to facebook, apple and chipotle today nvidia with a street high target last week. Lets bring in your trading nation team for a tuesday. Todd gordon of asent the ubs facebook call, quint, do you agree with it or not i like the call i think you can trade further upside in facebook its not an overly high momo stock until today. I think traders can catch some upside i think its on its way to the trillion dollar market cap club. Its already broken higher they beat by 25 we already moved higher. The current target is about 18 away from current levels which as the company is growing, we dont see an issue for that. We do own the stock in our opportunity strategy we were in that range heading last quarters earnings we think facebook and instagram are reflecting the dom naninant players. Facebook is the go to for Small Business advertising dollars theres nowhere else to go plus we think the advertising budgets for facebook will grow you come out the other side of covid. That will be a driver for new initiatives plus the new facebook and instagram shopping app they incorporated shopify into were bullish. We hold it not adding here but any pull back. It would be attractive to us all right todd and quint, thank you very much we appreciate your time today and your thoughts on facebook. For more trading nation head over to our website or follow us on twitter tradingnation. Still ahead, its time for our weekly special tilman tuesdays the chairman and ceo joins us next to talk about the uncertainty facing restaurants this fall. Stay with us stock slices. 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. Schwab. Its totally not the same without you. Were finally back and cant wait until you are too. Universal orlando resort. Buy now and get two days free at the parks. Restrictions apply. 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, every one. Here is your cnbc news update. Wisconsin republicans are calling on democratic governor to do more to halt violence following the Police Shooting of jacob blake. Basketball star lebron james says the shoot sg a stark reminder of the challenges facing black americans we are scared as black people in America Black men, black women, black kids we are terrified you dont know you have to idea you have to idea how that cop that day left the house. We dont know if we woke up on this side of the bed if he woke up on the wrong side of the bed in pittsburgh a 1yearold is dead after being struck by a stray bullet two officers rushed to control the bleeding the bullet went through a window and two walls before hitting the boy in the head. You are up to date thats news update this hour ty, back to you. That is tragic, tragic story. It really is. The oil market is closing for the day. Eric has the cnbc news at the commodity desk you can see the green right here behind me finishing the day hire with wti notching its highest level since early march. Hurricane law are is on the top of the mine for traders with Oil Producers cutting more than 1. 5 Million Barrels day of output from the gulf of mexico from the storm. Thats nearly 14 of the total output in the United States according to reuters if laura makes landfall as a category 3, it will take refiners 2 to 3 weeks to restore full operations. Kelly, back to you for most restaurants marks the end of the summer and their peak business. Many major cities Indoor Dining remains closed and the fear of more shutdown looms. Amid that uncertainty you have Consumer Confidence at its lowest price throughout the pandemic and if that wasnt enough, hurricane laura is barrelling toward the gulf coast where the virus has disrupted many businesses. Joining us now for our weekly check in, tilman its great to have you back. Welcome. How are you today were good. The hurricane looks like its headed toward the houston area what the happening down there . How are you preparing for this i have so much in the houston area, the amusement park, seven hotels in the area and dont talk about how many restaurants. Then youve got lake charles which is shut down now the Gaming Commission just shut us down and all the Light Company people have moved in to restore power. Theyve got 350 rooms. If it cuts right in the middle, maybe ill get lucky if it goes west or east, ill get buried in lake charles we have so many Different Properties we have over 130 properties in the houston gal area are you saying what did i do this year . Why me believe it or not, i am as long as everybody stays healthy, everybody that is physical, we can always fix. Thats always the outlook we always had for hurricanes down here we have been through so many we have been so demolished before its hard to believe this is all happening the same year and right when the kids are going back to school and business was still pretty good because theyre not going back until after labor day. What are the latest trends down there because some of the data is a little more encouraging. We had red book retail sales they turned positive year on year we had the housing data really strong the tsa flier checks it shows with the pred of covid in the south an west, the economy is doing okay. How would you characterize things its better in the Restaurant Industry youre still negative, double digits still even where youre open, 35, 40 because youre only 50 in texas on your busy nights you cannot fill up your restaurants you could if you could open up most of the states, very few are at 100 . California, you can only patio dine and in new york you can only patio dine. Even if chicago they are saying were at 25 a and when we get down to 100 cases a day, well let you go to 50 . The mayor of new york, nothing no guidance. Its almost like he wants his legacy to be, i want everybody to move out of new york. I dont want this city to survive. He is doing nothing to communicate with people many the industry or anybody. Its the most maiamazing thing e seen from democrats and republicans alike sayingon whats happening to our city i dont know what this guys legacy, he wants it to be. Obviously, he doesnt care about new york city. No new york state and new york city, the case count is way down the hospitalizations are way down we have gone days with maybe one or two deaths across the entire state. I know a lot of people must be thinking, what are you waiting for. What are you waiting for . Thats what we all are, 100 . I have restaurants in other parts of new york. Im up in hamptons im in great neck. Im all over but in new york city, our mayor has decided that i want to see as many businesses possible go out of business. E has no idea what hes doing the industry and the poor workers that cannot work that are no longer getting the 600 stimulus. Mayor de blasio hasnt missed a check. He talks about i was the mayor of the people. He is not the mayor of the people its all about himself and for some reason he does not care about new york all he has to do is let us open up and if theres any rise at all in cases, shut us back down again. Can a city, what does this mean the fact that in new york city, youre still out of business, basically with Indoor Dining one of the main appeals of the city is the ability to go out and enjoy with your friends, a meal in a restaurant on a cold winter night, folks because theres no much else to do in new york city on a cold winter night. I guess you can think of some things, but owe no whyou know w saying some of my best times are on cold winter nights when you go out to dinner. Theres a reason all the people that are leaving the big cities and people are letting them go go work anywhere its like the mayor doesnt care that everybody is leaving the city its like, hey, dont let the door hit you in your behind. I want you to leave my city. I want my legacy to be like this theres no reason for him not to let us open up at 25 . Most you got to remember, most restaurants in new york city do not have patios. Ive only got a few of my restaurants in new york city that are even open with a few tables outside because most of them dont have it because its such an urban environment there. If they let us open, people want to go out. For some reason, i just dont know why its shame because statistics improving all over the country with covid were keeping it below 45,000 cases a day in this whole country and deaths under 1,000 we just need to keep opening it open peoples business started to come back and every time it starts to, we do Something Else to pull out the rug from under us a lot of people are afraid with flu season coming and the traditional time that viruses spread i think theres a lot of fear and hesitation about reopening at the wrong time. Does it make you think differently about where you want your restaurants to be located or once this blows over, well have huge pent up demand and people will want to go to restaurants because they will the be so thrilled to get back out again. Were all looking into the future and hoping that, remember, the Leisure Business is over with on september 7th. After september 7th, all your leisure restaurants are slowing down and this is when your conference business, your Convention Business and your business travelers starts up again. Youre not going to have that traveler and the conventioneer in your business cities anymore. Thats where youre start seeing retail in the Hotel Industry and Restaurant Industry really start hurting again. Thats a great point. The difference of the seasonal time will make for you always great to hear from you. Thanks for your time, sir. Thanks, guys. Well check back in with you. Ty, did you say my name or am i hearing things i wanted my son to ask tilman a question go ahead, tyler when does Russell Westbrook come back. Say it again. I heard it. You hear it i hope he comes obviously we need him back i hope hes feeling good they will try him out tomorrow and hopefully he will come back tomorrow if hes not feeling right, the worse thing you can do is bring somebody back because we definitely need him friday and sunday if theres a 7th game im with you great question lets just hope that hes feeling good tomorrow morning. All right we wish you luck the games have been amazing. Good to see you. Thanks, guys. Thank you all right get out of here thanks a lot. Coming up, power movers, peanut butter, blue jeans, ecommerce plus American Airlines warning of thousands more job cuts will the government step in with even more money and will it be enough to save those jobs. Well be right back. Welcome back markets may be lower but the power movers are higher. Were starting with gap. Its up more than 8 doubling their price target to 24. The analyst is bullish on athleta. The stay at home trend continuing to be good to smucker. Some of its brand seeing growth include jif peanut butter. Were all doing a lot more of that at home big commerce went public on august 5th at 68 a share. One of strongest ipos of the year the strength topped 100 share today. Its up 27 . Its teaming up with facebook to offer customers the ability to buy something and check out directly with instagram. There is more news i can use its like kelly geared power movers ty thank you to the bond market we go rick is tracking the action. 15. 5 was the two year auction yield that tied the lowest which was last month as well look at a two week of two year its a tight range on short maturities when you move down the curb, you get a little action. They tradely briefly if you look at 10s minus twos that steepened the curve the range over the last couple of days have been 47 all the way up to 55 on that trade finally, look at a month to date at the dollar index. Its only down about a third of a cent add in the previous month of june where it got its clock nasty move down from 9798 the point is the dollar index has stabilized kelly, back do you thank you, sir. Coming up, tough times for American Airlines as they face even more job cuts times were supposed to be good for best buy with people loading up on computers. The stock is down after earnings today by nearly 5 we will get to the bottom of it next on power lunch. Good morning, mr. Sun. Good morning, blair. [ chuckles ] whoo. Im gonna grow big and strong. Yes, you are. Im gonna get this place all clean. Ill give you a hand. And im gonna put lisa on crutches wait, what . Said shes gonna need crutches. She fell pretty hard. You might want to clean that up, girl. Excuse us. When owning a Small Business gets real, progressive helps protect what you built with customizable coverage. And im gonna eh, eh, eh. Donny, no. Oh. Welcome back American Airlines announcing more job cuts to go into effect on october 1st we have the details. Phil kelly, we knew there would be substantial job cuts at american i think when people hear the number 40,000, they sit there and think, wow, thats a lot it is a lot. We knew it would be a lot out of a company with 140,000 employees. So these are all the jobs that will be cut as of october 1st. 28, 29 of companys overall staffing it breaks down like this youve got 19,000 front line workers who will be furloughed terminated. 17,500 furloughed. Talking about pilots, flight attendants 12,500 are taking early retirement packages. The president of American Airlines wrote, we must prepare for the possibility that our nations leadership will not be able to find a way to further support aviation professionals and the service we provide theyre making reference to the cares act and the possibility of another 25 billion to ensure jobs through march of next year. Well, if that doesnt happen and it doesnt look likely at noiths point, theyre going to furlough 30 of the flight attendants when it comes to pilots, theyre furloughing about 11 of the pilots one last airline note. Take a look at Spirit Airlines they announce they had have reached a deal with their pilots where about half of the pilots will agree to fly fewer hours in order for them to avoid furloughing 600 pilots there were in that period right now where the airlines are basically laying it all out there saying here are the jobs theyre going to be eliminating starting october 1st. So grim talking to a friend around here whose daughter job may be on the line really difficult for people. Thank you sir. Shares of best buy up more than 130 from the march lows more americans work and learn from home, we need to buy computers, right the stock is falling after the Company Reported results has it gotten too ahead of itself thsig aerhi at rhtft ts. We made usaa insurance for veterans like liz and mike. An army family who is always at the ready. So when they got a little surprise. Two . They didnt panic. They got a bigger car for their soontobebigger family. After shopping around for insurance, they called usaa who helped find the right coverage for them and even some muchneeded savings. That was the easy part. Usaa insurance is made the way liz and mike need it easy. Were committed to making tcollege more affordable. ,it thats why were keeping our tuition the same through the year 2021. [student] i knew snhu was the place for me when i saw how affordable it was. [narrator] find your degree at snhu. Edu. Shares of best buy falling 7 in todays session. An all time high just yesterday. Following what has been a big run in the stocks since the march lows the Electronics Retailer reporting a 242 increase in on line sales in the Second Quarter as stay at home trends shift Consumer Spending to the online channel. The companys ceo warns that those Growth Trends may not last so is best buy still a good buy . Lets talk to the man that covers the stock welcome. Good to have you with us the report yesterday was nothing short of spectacular you just raised your price target to 130 from 105 so you look like you think this is a good long term hold absolutely. Look, there are three certainties in life, death, taxes, and best buy selling off after they report earnings these were great numbers sales were up 6 operating margin is expanded 190 basis points that beat consensus by 67 cents. In addition to that, management said for first three weeks of august sales were up 20 so these are great numbers this is what always happens with best buy what about the concern that this that they may have benefited from a particular sweet spot in their business that is going to be very hard to replicate as the year continues and next year takes off . I dont agree with that whatsoever the reason the sales were strong in august is the fact that kids arent going back to cool. If youre going to be doing home schooling, you need a pc, you need a tablet pc if youre spending more time entertaining at home, you probably need a new tv proubbly need video games. When you get into the back half of this year, you have new iphone 5g, that will be a big sales driver then you have a new video game console cycle that starts later this year. I see the tail Winds Continuing through 2021, frankly. You are also have a repurposing of the stores to help with same day or next day fulfillment. They become Fulfillment Centers right out of their stores to get the product to the user quicker. Absolutely. And that is a great advantage for best buy theyre going to make them almost Distribution Centers on steroids and that will allow them to do same day delivery, next day delivery and that allows them to compete with the amazons of the world. Anthony, thank you very much. One of the great come back stories in american retail anthony, thanks very much for your time today. Thank you for having me ill have to add that the. All right h folks, thank you all so much for watching power lunch. There you see the industrials taking it a little bit on the chin with the smallest of declines. The other market afrnls are higher right now yes, thanks for watching power lunch, everyone. Closing bell starts right now. Thank you and welcome, everyone to closing bell. David faber is in for wilfred frost f were in the green, its a record high. Were watching the s p 500 and nasdaq look what the is driving the action in the final hour of trade. The dow shakeup. David is all over the significance of the