Some traction. Right right. Well, look, i think that the charges that leader mccarthy made which basically are saying that Speaker Pelosi just doesnt want to deal actually are in somewhat synch with what Jared Kushner was saying because that maybe there cant be a deal until after the election how about the next three months . We just decide theres been no ppp for september, october, november, i dont know whether thats sacrificing the american working person for the election or maybe someone actually thinks the economy is coming back david, you know that we are hearing persistent stories that because vaccines are all going to be ready its time to start thinking about a fedex which reports tonight, its time to start thinking about a Union Pacific i have on and time to start thinking about pretty much every industrial like caterpillar, deere its happening although lets i mean, vaccines you know, i dont even know how to parse that exactly, jim vaccines being ready when we actually talk to the experts or mr. Borla from pfizer yesterday who meg tirrell brought us or you listen to anthony fauci, i mean, having a vaccine that is at least approved for emergency usage which may be the case or potentially through phase three and having it actually available to inoculate a wide portion of the population are two very Different Things and the timeline is quite wide. David, i agree with you i am saying that there are people in the stock market who disagree with us i think there are people in the stock market who agree with the president and think that something is imminent and because something is imminent they feel like theyve got to move now, david, and thats why were seeing a lot of aggressive buying right right. And, well, typically the stock market does move before these things, doesnt it, jim . Yes, and people are optimistic carl, one of the things ive seen over and over again is people are saying the reopening of america by retail, reopening the america by restaurants, by cruise ships even though carnival put out some numbers today that arent that good. Do you know what we dont hear, buy drug stocks. People say stay away from those, stay away from health care too hot. Election year. Well, certainly on the heels of the president s comments about pricing and of course kushner discussed that this morning as well, jim, but to your point about the economy, we got some new data from 3m on august sales up 2, delinquencies out of jpmorgan really didnt rise that much in august, Consumer Spending has been pretty solid despite those enhanced benefits running out. So maybe there is enough momentum built in from the summer stimulus, jim, to get us to where a vaccine is at least something you can hold in your hand even though to davids point the idea that you and i and david are going to get one is as germany said today probably not its probably not here until mid 2021. Well, that would be late, but youre right, there is a head of steam. 3m has decided to give monthly figures. I had mike roman on recently, the ceo, and he was saying that things could be good, but this is not good, this is very good i think youre right about a head of steam. Whats happening is when we see wells fargo today talk about how caterpillar is undervalued, deere is undervalued, i just keep thinking that if you get an uptick in airline traffic, david, people are going to say we are back and, therefore, many even there is no stimulus package which is Pretty Amazing because of course we are not trading joes deli we are not trading anns coffee shop those are the ones that we know when you walk down the streets of work and other cities cant open because they dont have any customers. Youve made this point and we will continue to make it because the reflection of the u. S. Economy that we see in the stock market is not the reflection of the u. S. Economy to your point. And i think the big keep getting bigger we cant say it enough and its true talked to lowes of course and marvin ellison, i mean, there are the beneficiaries of this period, jim, and then there are the losers. Right. And the beneficiaries are the ones that are right in front of us, that we see every day, that we see publicly traded, unfortunately those who are losing are perhaps just not as evident at least in terms of our opti optics. Well, i would say as someone who is a restaurant owner, if you have a crowd, if you have too many people, they will shut you down of course, before the pandemic what you were hoping for is a crowd and too many people. Carl, i think that the idea of thriving if you dont have a big Balance Sheet cant be and everywhere we open even 25 diners were seeing a spike in covid. So i think, carl, what we just have to say is we need the vaccine before things return to normal but returning to normal means a lot of smaller businesses just cant pay the rent. On top of that, jim, to your ongoing point about the mom and pops versus the giants, amazon of course yesterday with that announcement hiring 100,000 additional employees and now, jim, getting into luxury in this partnership with Oscar De La Renta which the New York Times fashion critic i saw this morning said this is the highend giving in. Remember those days when they didnt want to be associated, even a nike didnt want to be associated with the main page of amazon, the idea of amazon thats collapsing quickly. Yeah, everyone has really come to realize without it forget it. David, tiffany, are they ready to make a deal with amazon theyre probably telling me that some of it is already on there you know what i mean guys, wanted to also get to a story weve been covering yesterday, of course, jim, you and i spent a decent amount of time on it, it continues to be fascinating because we dont have a lot of answers yet. Im talking about the potential i wont call it a sale any longer. The trusted Technology Partnership that apparently is at least still being worked on between oracle or a group led by oracle and tiktoks owner, bytedance. Weve heard of course the treasury and sifias will review the deal as at least we understand it at this point but there is still a lot we dont understand its not as though we have gotten a press release outlining what the deal parameters are, what the potential consideration that oracle is actually paying to tiktoks owner bytedance is for some sort of ownership position in that u. S. Business in some ways you could view it almost as oracle paying for a web hosting opportunity, right they bring them to their cloud, we talked a lot about it yesterday. Maybe a real positive for bytedance and its owners given that all along we had been under the assumption that they would be forced to actually sell the business and do so at a significant discount to its real value given it was a forced sale, but that no longer seems to be the operative way that were thinking about this because it appears much more likely that oracle is getting some sort of a web hosting deal for which its paying something, will have some sort of ownership stake, will perhaps also include a roll in of some of bytedances owners as well, but, jim, we also dont know what bytedance will actually own. Those of us who are going off the executive order from the president back on august 14th assumed that they had to sell the business thats what it kind of said. Although when you do listen to secretary of the treasury mnuchin and his comments, guys, you will see there is a lot of nuance there in terms of National Security concerns where he never fully says it has to actually be fully purchased. Take a listen to some of the comments we have heard from secretary mnuchin who has been so instrumental in this, given he of course oversees cfius as well which does the National Security review. The president made perfectly clear its not going to continue to exist in this format. And to the extent there is an appropriate u. S. Buyer that can get us comfortable with the Security Issues going forward, that deal will be approved if not, the president has given a deadline and it will be shut down. You know, david jim, i dont know what i dont know what you made of kushners comments with squawk box this morning. I think there is a deal maybe as soon as today i think that cfius review is almost complete, they like oracle, they dont feel like oracle has any ties or that safra catz has explained, look, we have an american company. I think they will get all of tiktok worldwide, they will hire 25,000 people in america, they do only want to list apparently secretary mnuchin is very happy that about the security concerns. Safra catz has spent the whole time negotiating this saying, listen, we are the ones. Oracle is saying, listen, you know, shes saying were ready we have a gigantic cloud presence, we are already doing a lot in advertising david, this is going to be today, maybe tomorrow, but maybe later today. 55 million users, 79 minutes a day for those 55, 100 million per month. Yeah. It is just a prized asset and i know that safra said over and over again we are the ones. We know the metrics, but, jim, theyre just getting right, theyre getting somebody to host on their cloud, right . Whats the matter with that. Nothing im not whats the matter with that the reason why i think the deal is going to be done, david, is exactly why you say, because oracle is a trusted company in the white house, but, david, youre right, i mean, its not going to be that oracle owns it, its going to be its going to be owned by these pe firms, some of it oracle and thats why i think the deal is going to be approved thats why the even the apparently, david, the pompeos and, yes, the navarros have checked off on it. Well, then, carl, that would seem to indicate a likelihood that it will be, of course, approved its not what we thought originally given particularly the executive order from august 14th dont forget, by the way, thats still in effect and also includes wechat which is yet another story we will be following as that date gets closer look, the tie up with zoom if you listen to kushner. Im sorry. Kushners point this morning on squawk, guys, was that there is a disparity of opinion within the owe val, that the president sort of is absorbing that and that its really now up to him as he said. Take a listen. On this particular instance with tiktok some people are pushing for an all out ban, but President Trump is pragmatic and what he basically said is he was going to ban it because there was National Security concerns, but that if an appropriate deal would come up that would satisfy the National Security concerns then they would look at it so, again, there is a lot of voices around the president but ultimately he is the one who makes the decision and there is something was submitted and i know that its being reviewed right now to make sure that it qualifies on all of the different criteria that are necessary. So, jim, it sounds like you think its close. Its done i think its done. Cfius this afternoon, maybe president this evening or tomorrow, president is going to say its a big win the president is going to say that they beat china and that they got all that they wanted and more its going to be a victory for the china hawks is the way the president is going to portray this and it is going to go to oracle and they will have bragging rights that they have a great cloud. David, i know that they want to be the number four cloud, do you know what i mean in the meantime, guys, an exclusive this morning with lowes Ceo Marvin Ellison. When we meco back futures looking pretty good. Dont go away. The big events are back. Xfinity is your home for the return of live sports. Empire was up this morning for the third month in a row and now were getting Industrial Production lets get to Rick Santelli yes, were waiting for august read on Industrial Production, carl, and of course, i will have to tap dance a bit here. Dont see it on any of the Wire Services yet we are expecting a number up around 1 and on utilization rates something above 71 . It has come off some big lows, both of them had huge lows in april, minus 12 on Industrial Production here we go Industrial Production up 0. 4 of 1 less than half of expectations but we did see a half a percent increase in last month july moves from 3 to 3. 5 utilization rates still dont seem to be trickling out, carl i will give it back oh, here we go. 71. 4 exactly as expected. And a revision of a half of 1 on this number as well the july read originally at 70. 6 now stands at 71. 1 jim, back to you well, thank you so much those numbers seem okay. This he seem okay, rick, and thats one of the reasons why i know we will be waiting for secretary for Speaker Pelosi to answer what leader mccarthy said because maybe we dont need a deal i will tell you who is on fire. If it makes you feel like things are great in the economy, its lowes. Today they announced a Major Initiative offering opportunities for hundreds of diverse Small Businesses its going to be like a shark tank and we caught up with lowes Ceo Marvin Ellison exclusively to discuss this and how business s take a listen. You know that weve been committed to trying to help Small Businesses operate in this really difficult economic environment. We started out with 55 million in Small Business grants that weve been i wish ring out and just to give you an update, we have had over 800,000 applicants for these grants since we initiated this program so the demand from this program led us to understand that there is a lot more that we should be doing. So we came up with an idea to try to get more products on our shelves and on lowes. Com that originate from diverse entrepreneurs and we came up with this idea called making it with lowes where were going to launch this virtual nationwide search for businesses or Small Businesses, entrepreneurs, to pitch to us products that we can sell online or in stores and were excited about creating the opportunity for the American Dream for an entrepreneur to get their products in a mass marketplace to serve customers. Well, i think its a great and noble idea i think it also comes at a time when lowes is experiencing a remarkable turn around your stock up about 38 for the year is the finest performing major retailer that anybody follows and some of that is because i think that you had an inkling that a house is going to be functional and you pivoted lowes to be able to meet that demand. Jim, more so than anytime in our life the home is being reimagined so today the home is multipurpose more so than ever. Its a work from home space. Its a homeschooling space and predominant space for entertainment and recreation we are very fortunate and blessed at lowes that our Business Model will allow us to serve all three of those unique needs of our customers and this has been a team effort my Management Team has been incredibly focused on keeping our stores safe for our societies and our customers but more importantly trying to do our best to help the customers manage through this really difficult environment that covid19 has presented to all of us. Marvin, one of the things that you discord when you came in, i remember you telling me, geez, we are a little bit behind in the internet, and the other thing you said was that, do you know what, we kind of lost the pro who used to come into lowes in a remarkably short time youve been able to reverse that how did you do it . Well, jim, as weve discussed before when it comes to solving Big Technology issues for Large Companies you need a couple of things, you need time, you need capital and you need talent. We invested the time weve been working on this for 18 months, weve invested a lot of capital and i recruited some extremely talented individuals who have done this before. Just to remind you, we went from a decadeold platform with lowes. Com and we replatformed the entire site to the cloud that enabled us to have a lot more agility and functionality at a time where customers made a massive shift to ecommerce and digital purchases. So we were right at the right moment in time to do that and in the Second Quarter our Online Business grew 135 and thats on a big base in addition to that we understood that the essence of a Home Improvement business is the pro customer because they drive productivity in every department every day of the week and lowes was not really focused on that so we pivoted and weve launched a loyalty program, we brought in products that better resonate with the pro and we just recently announced that were launching tool rental for lowes our data shows 70 of pro customers use tool rental and we were not in that business. So we launched our first tool rental here in charlotte, we will be expanding it nationwide over the next couple years so we will be committed to serving that really, really important and very and very influential customer while making sure that our ecommerce business continues to be something that customers think first about and were proud that we have one of the highest rated mobile apps in any retail environment today. And that took a lot of work, but im proud of the work that the team put in to make this a reality. Do you think you can continue to take market share gains even when we get covid under control . We think so, jim. Look, the first thing that we did this year is we created trust with the customers all of us, i mean, we were very concerned about the ramifications of going outside of the house in this covid19 environment and so we took extraordinary efforts in our stores to ensure that our customers would feel safe when they came into the building. That has garnered us a lot of good