Earnings we start off with the one chart in the market that seems to be getting no attention check out the xrt, the retail etf up 12 this year the xrt taking another leg higher today on the back of a strong retail report is this retail recovery for real and if so, how are you playing it brian kelly, kick us off. I think theres a couple Different Things yes, there is a retail resurgence i think a lot of it had to do with the stimulus, but a lot of it had to do with a change in the way people are working the top five to ten holdings are heavy ecommerce, overstock, etsy, wayfare. Be careful what youre talking about in extrapolating this to mall based retailers i think mall based retailers are going out of business. This is the new wave of commerce its ecommerce. I do think that continues. The caveat is it would only get stim stimulus and people dont have that 600 check dor, do we get stalling in this do we get a stalling with walmart . Maybe theyre not as exposed to the stimulus check sin
Getting a little tiny speedbump as we headed to the final hours of trade, we are seeing a tiny bit of profittaking, nasdaq down 18 points but this is after the index with names to an alltime intraday high, maybe charles will be right if they get back up there. The dow and s p 500 continuing to trail along for global stimulus efforts, the dow at 281 but with a few days left on the clock, topper Administration Players are running a full court press in the halls of congress to follow in the footsteps of the European Union which reached in a historic covid stimulus to overnight. As we say on the countdown theres always trades to be made. The top stimulus stocks the floor show says can juice up your portfolio. Top redhanded, just hours ago the Justice Department making official, two Young Chinese hackers now formally accused of covid espionage. Attempting to steal research from the u. S. Biotech that are trying to rush to develop a vaccine. We have a fox business exclusive with the ceo biot
Libby, and blood on your hands. Fireworks may have also been set off. Oakland police are at the scene. The mayor spokesperson says the mayor will be making a statement this afternoon, no word on who is behind vandalism. The number of coronavirus cases continue to rise when it comes to hospitalizations in the state of california. According to the latest from john hopkins university, there are more than 399 cases statewide. That is an increase of more than 12,000 cases compared to the same time yesterday. More than 7700 people have died in the bay area. There are more than 42,000 cases and at least 711 deaths. Businesses in San Mateo County preparing for tighter restrictions. San mateo county is expected to be put on the states monitoring list sometime today. So far san mateo was the only county not on the list. County leaders say they cross the threshold due to a recent surge in cases. 33 counties are currently on the list. Governor newsom says he is alarmed by the increase in hospitali
Whats happening. Certainly on the virus front and this is a big nagging and ongoing worry of right now, as we look at states that are dealing with a big spike in cases particularly in florida were also looking around at how illinois, michigan and some of these other states are dealing with this and the debate about whether you could really make demands on someone to wear a mask, and a debate in georgia as well, well get into that and we are focusing as well not only on the markets but the feeling that seems to be generating among a lot of folks that unless we get a pickup in activity here and unless we see more things beginning to stabilize on the infection count, then things really probably will not change a whole heck of a lot. Matt fin n has been following this very closely in naperville, illinois when its coming down to wear a mask. Sir . Reporter neil, naperville just outside of chicago is moving forward with plans to hold classes in just a matter of weeks. Every morning parents a
That Summer Vacation today, youre losing money, particularly if you are a tech investor. On this first trading day of august, the nasdaq aiming for its 29th record close of the year as tech giants from apple, like we were talking about, to microsoft and a whole host of other names, lead markets higher. We have the nasdaq up 176 points right now. Dow is up 274. Youve got to watch microsoft in this final hour. It is hitting a record high after confirming charlie gasparinos report that the og Software King is indeed in talks to rescue viral video platform tiktok from President Trumps threats to ban the chineseowned favorite of dancing teen agers. Of all the chinese apps, why ban this one . Charlie breaks it in just moments. And if the president does ban tiktok, will that be a shot across the bow aimed at china . We have team fox business coverage of the brewing tensions between the two superpowers. Our tech panel is here to tell you if we are on the verge of a high tech cold war and why t