In line. All about antibodies. Astrazeneca strikes a deal with the u. S. Government and do downplays President Trumps treatment saying large studies are ongoing. A lot of earnings in the week ahead Bank Earnings first. Apples big phone launch and amazon prime day and the retail impact from that and what it is actually going to mean for the stocks that you own. Carl jim, this morning i heard you talking with andrew a moment ago. Growing sense is we keep an eye on stimulus talks that maybe the market really has focused on the front burner more talk about antibodies and were going to hear what len told cbs in a few minutes. If you didnt know, carl, and you read the research this morning its almost like they got in a room and they said you recommend facebook and you talk about amazon and its your job to talk about alphabet its a concerted effort not a National Conspiracy but a concerted effort to take up every one of those whether it be amazon prime and the big 5g day for apple. But you take a look at like a microsoft comment and whats a microsoft . Just basically Deutsche Bank taking it from 230 to 245 and then Deutsche Bank with google saying, listen this one is underperformed now, david, these stocks are, indeed, off their high and so they have something to say but the thing is theyre all saying it at once. Its like this weekend they just got mojo yeah, jim, its, you know, we could go back to i dont know how many conversations we want to have whether its about valuation or future growth or the underlining fundamentals like we said so many times the Digital Future that is already here in ways that we might not have anticipated for a few more years. But, do you think theres a level of complacency at this point in the market that just says, oh, yeah im not worried. I was going through with some people who have been in the market for many, many years and i said how long can it stay this easy how long can you just throw darts at the nasdaq and hit snowflake or hit, how long can you get a merger paying a huge amount and the stock going up. And the complacency is so much it would draw out some sellers but, carl, a genuine belief that it doesnt matter who wins it doesnt matter about stimulus there are enough trends out there established by covid that just say get along ask the number one, of course, is the internet. re right, jim the daily rate count is rising and it is no where near what it was in the summertime. Meantime, congress to your point appears a lot more interested in judge barretts confirmation than it does perhaps in other stimulus package and, speaking of which, well keep our eye here on Senate Judiciary as judge barrett begins what we think is four days of hearings, jim. Mcconnell made it clear, this is his priority regardless of what the president or pelosi or mnuchin or meadows may think look, i looked over what secretary mnuchin is offering. Hes kind of offering what i thought the democrats wanted and also level flexibility that i think is pretty clear that if you really wanted to make a deal, a deal could be made except for in the senate david, you have been saying this over and over again. The senate is not focused on returning money to the people. The senate is focused on the vshape recovery and on these hearings and on those hearings that is the priority as carl said that said, do you really want the president signing if you are the democrats and if youre nancy pelosi, do you want the president signing some sort of big relief package with names and checks going out on them to a lotamericans, jim. 22 days to the election and it seems very difficult to imagine based on the senate, as you point out, and Mitch Mcconnell and where his head is at and where his members heads are at and nancyzresistance getting anything done prior to the election at this point but, 1,200 check with trumps john hancock is going to make it so that the people say, all right, i guess i should vote this guy just gave me 1,200 i will vote for him. Were not election people. But if you got more money in this market, the complacency would seem like a good idea. I continue to believe that the banks are not going to be good that Goldman Sachs and Morgan Stanley would be good but these are all etfs why those two . Those two dont have the bad loans i see surfacing. Why someone downgraded americas best last week and why it looks like the bank of america cant get out of its way why wells fargo is not the stock to own and these guys are going to determine how earnings season looks and we know in the last couple days, carl, that were going to have a series of banks. Like what is citi up and is citi going to say our problems are done where do you see the real problems in the consumer, credit card portfolio or real estate some of all i think those are the areas that needed the help. I mean, i dont think, i think that youve been able to not pay rent so therefore the landlord has not paid the bank. I dont know why i listened to analyst this morning that said its clear sailing from here what what is clear sailing . Who is doing better . A couple restaurants who is doing better . Well, we know who is doing better the point you keep making. Costco is doing better, home depot is doing better, lowes doing better the rich get richer they dont borrow. They have their own cash flow. Walmart is doing advertising today. Multiple expansion carl, if i were a banker all i would be worried about is the Bank Examiners coming in at wells fargo and coming in at citi and saying you dont have the controls that we need. I mean, geez its tough to buy them look at Morgan Stanley made a tremendous acquisition i thought last week. Second one really distinguished them away from the bad loans that they never made anyway. But look at the stock. I mean, look at the regional banks. Is this the quarter that they suddenly come out of their dormancy no i just think that this is the wrong way to jpmorgan would you let these stocks go. Lets see what happens goldman i am very worried about and the stock is up from 190 Morgan Stanley deserves to be higher but, carl, i wish these stocks were reporting at the end and not the beginning. Yeah. We sometimes say that going into earning season jim, i wonder if theres a back story and a good note saying that traders at least the traders who actually follow the markets closely for a living and not the Financial Press have not been sort of a distracted by all the stimulus talk. Its more about the quality of treatments even if its a case study of one and the case of regeneron and something that he did mention yesterday on face the nation. Take a listen. The president s case is a case of one. And thats what we call a case report and it is evidence of what is happening, but its kind of the weakest evidence that you can get. The real evidence has to come about how good a drug is and what it will do on average it has to come from these larger Clinical Trials. These randomized Clinical Trials which are the Gold Standard and thats where im going interesting piece over the weekend, too, jim, in the times what it means for pharma when they become a political signal i have known len, he was my first guest and they, theyre trying to make as many doses as they can and i think hes frying it is a very hard drug to make the president was talking about supermarket im sorry, superman garb, yes, david, thats true. And i just think that len is trying to be conservative about what he can deliver. I think that david ricks can make more but just less of a complex cocktail i look forward to dr. Fauci tonight on Shepard Smith becaue dr. Fauci seems directly at odds with the president at this point. David, you know. Theyre even quoting dr. Fauci in a trump ad and dr. Fauci is trying to say five administrations hes never endorsed anybody i saw that yesterday watching football and i was surprised to see dr. Fauci in that ad and immediately after on twitter you saw a lot of his comments saying it was taken out of context and that, obviously, he would have never allowed it he never showed up in an ad like that, as you point out he took issue with being used in that fashion to the manufacturing issue, jim did you watch crowder for fantasy . I was watching, i was watching kansas city and las vegas. Okay. I was going to say then i was watching the jets. I was going to warn you then i watched the cowboys and the giants, which was actually a good game horrible injury. Do you think the ratings are going to be good because i have to tell you, some of the sports, i mean, my wife is watching the same time im doing my fantan a lineup and games all over the place. I have to tell you, too many games. So many games at one point lakers winning the championship and some really important Football Games and now weve got the season going on monday night, tuesday night because of covid. Theres a sports overload and somehow its turning into bad ratings. Yeah. Game three was the lowest rated nba final game ever. Prior to that the record was game two and prior to that the record low was game one so, somethings going on theres a big debate over the weekend whether thats fans who have been turned off by the nba politically or, to your point, whether its just saturation of content. What are you going to do . The yankees have a big game. They did play the season in a bubble its not quite the same as people in the stands the titans were in a bubble, a covid bubble you know, i was thinking, you know, carl, you cant have len call the titans and say, listen, i have some, not like the president. But back to this manufacturing issue that we started with before getting to nfl ratings. There are a lot of questions as to how many doses they will be able to manufacturer, jim. Given as carl said, thankfully hospitalizations are way down but cases are not and were still 50,000, 60,000 cases a day. If you want to give it to every Single Person who tests positive, not that you would maybe you want to see some symptoms before you do that. Not going to be enough of it thats exactly what you need to do. The point that you get it. If you get tested at 2 00 and it comes back the next day that you have it, you really immediately need the regeneron cocktail. Immediately. Right and you got to get it infused. You have to go somewhere and get it you cant get a pill and pop that in your mouth and i think a lot of people are very concerned, including len, that theres an expectat n expectation, carl, after what the president did where oh, i, too, can get that. That was just, the president certainly gave you no inkling that it cant be like that do we know how len is going to dispense this stuff . Did the government buy all the doses . I know the government is entitled to it the government could own it. Its like they owned all the abbott tests but no one seems to like these immediate tests they love the overnight pcr test, especially the colleges, by the way i just want to hear him do the christopher, they sound identical. I think they may both be from queens will len do that for me some time i have to tell you, len is a great guy and he may call in and give it to you i had this watch. I wont go into it he with do it great. This watch. Jim, if regeneron on track to have 300,000 cases thats how many covid cases the world every day. That gives you a sense of where manufacturing is relative to the daily case load that were seeing around the globe and we havent yet mentioned what happened in recent weeks in italy and the uk and france. India not only are we hoping that doesnt turn into a death curve, but that we dont suffer the same dynamic here. Remember, lilly may be the linchp linchpin david ricks has said a million that he can do i think david ricks and the manufacturing of lilly can exceed that. So, what you put together, maybe regeneron and maybe 1. 6 million. Lets say you get nat numbthat and then you can get things under control. A new handheld pcr that i had on friday that is rapidly accepted which gives you one and done you can measure. It is a pcr and you get your results, you get your results in 20 minutes we are going to beat this thing. And science is going to beat it, but its just going to take a little longer time than the preside president s optimism ill call it optimism. David, im calling it optimism yes, you are. Can i just do one thing can i wish dak prescott well as much as im an eagles fan, i like that guy. Lets wish him well. Were all feeling that way today, jim plenty of research to get to a lot of initiations of snow and pepsi, twitter and futures are green. Werba ia mee ckn montno dad, alright, okay. Hows that . Is that how you hold a mirror . [ding] power e trade gives you an awardwinning mobile app with powerful, easytouse tools and interactive charts to give you an edge, 24 7 support when you need it the most plus 0 commissions for online u. S. Listed stocks. Dont get mad. Get e trade and start trading today. Dont get mad. Get e trade you can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save up to 400 a year on your wireless bill. With the carrier rated 1 in customer satisfaction. Call, click, or visit your local xfinity store today. Ing. Snowflake is up on the premarket and cloud Data Platform and goldman is out with the buy. Deutsche initiating buy and jpmorgan is a neutral at 247 goldman and jpm were among the book leading managers for the ipo just last month. Jim, cloud migration and secure data sharing are strong tailwinds say goldman. I thought goldmans piece was very good. Look, i was with some people this weekend who said, how can you defend that . How can you defend 100 times sales . Its ridiculous. Why cant someone build a better mouse trap the answer for that is that this thing is built for the cloud, but if you look at these, Deutsche Bank, too if you look at these reports, its about how, its really amazing how amazons service and Microsoft Service and Google Service are second rate. And they literally do not talk to each other and if you want a product that can make it so you can get instant analysis, instant analysis of your data rather than a day thats on premise or whether be able to do, lets say some in a couple hours. You have to use snowflake. You need this to be able to handle your data and the pieces all say the same thing indispensable, carl. This company is indispensable. Out of no where we dont even know why we do know this. If you have to have data inst t instantly, you have to hire snowflake. Can we give somebody a reallife example of how this helps a business, jim. I know im throwing that at you. Thats all right. You have a lot of data that is stored in amazon web services. Amazon web services these analysts say does not have a great system to be able to look at the data. So, what you have to do is you have to look at the data via, in the warehouse so to speak, via snowflake and then with tablo to find out what the data really means. And no wonder got so much stock that salesforce got so much stock. You know, these things if you read through jpmorgans piece and theyre a mutual on it you can still see why they like the darn thing it is just a better mouse trap and heres the worry, why you wouldnt want to buy amazon wakes up and says, okay, thats it. Im putting these guys out of business ill take my data business and i can beat them. Amazons is eight years old. And thats not enough. You need to be able to run everything simultaneously in order to find out what is going on and nobody seems to be able to compare to snowflake in terms of me able to figure out your data figure out your data, david, may mean taking share from everybody else so, in realtime youre understanding changes that may be taking place that you can then quickly make changes to meet yes and in english customer demand and whatever it might be. And as opposed to waiting a day which would garner you more sales. Thats the other thing. You dont need to be, i mean,ia dont need look, i like a Great Company which is easy to use but what theyre doing is creating a group of systems now so that make it so regular people, not computer scientists can look low their data and theres still a lot of business that hasnt moved out of oracle and ibm and we lisened to ibm last week and snowflake is the winner theyre disrupting a 60 billion Data Management business and i think, ill put my neck out, again. I think it makes sense i think you can buy it really, you can buy it here what is the multiple to revenues right there . 100 what changed . Two weeks ago youre like dont buy it at 100. Im sensitive to these Analyst Reports that lay out the problems with amazon that i didnt know. I didnt know the problems with azure. I thought they had clear sailing against snowflake. Carl, these are good reports they changed my mind i stayed open. When the facts change, david, i change my mind what do you do, sir . I just ask questions, thats what i do. Downgrade of cisco at citi. Shifting purchasing decisions which well talk about after the break and the opening bell in a few minutes. Before we talk about taxsmart investing, whats new . Well, audreys expecting. Twins grandparents we want to put money aside for them, so. Change in plans. Alright, lets see what we can adjust. Wed be closer to the twins. Change in plans. Okay. Mom, are you painting again . You could sell these. Lemme guess, change in plans . At fidelity, a change in plans is always part of the plan. Take a look at some of the leaders this morning apple is in a poll position almost up 3 here. As were awaiting the expected debut of what were calling the iphone 12 tomorrow and how ig is going to incorporate itself into day lives. The opening bell coming up in a couple minutes lets get to our mad dash and minute and a half before we get started with trading for the week pepsis the name five years of relative underperformance to pepsicos the Group ConsumerPackage Goods and nicholas known for years and years and changes her view and says its time now is the time to buy pepsi and they feel that this is a piece about