Region. Beaumont and the whole area. As hurricane lauras wrath unwinds right on top with more than 82 of gulf Oil Operations now offline. We now know where the powerful storm is headed and what it could mean for prices at the pump. By the way, exxonmobil, part of the reason stocks are seesawing as the dow stares down one of its most epic shakeups ever. Our floor show traders ready with their blue chip fantasy picks. With everybody wearing sweats and pajamas at home, why is luxury consignment site the real real jumping 35 quarter to date . The ceo is here in a countdown exclusive on the hermes effect. The topselling luxury product being used for a high end face mask hack and the happy face its putting on shares of her ecommerce titan. Plus covid test results under 15 minutes . Why you may want to go to the airport for your next covid test. How and where the company is pulling that off. Less than an hour to the closing bell, lets start the claman countdown. Liz retailers popping and dropping at this hour. The gap is getting a burst of Energy Courtesy of its popular athleta brand. Citigroup just raised it to a buy. Its at 16. 97 a share. Citi doing this after estimating that the athleisure outfit could be worth 3. 6 billion on its own or in some type of sale. Thats more than half of the gap inc. s current overall value of 6. 5 billion. With shares of gap up 9. 5 right now, gap is the top performer on the s p as we head into this final hour of trade. On the flipside, best buys actually the biggest laggard. Looks like its being punished for postearnings honesty. Despite crushing numbers in the lockdown quarter, the Electronics Retailer warning dont expect the same for the current quarter. Pandemic related unemployment, less stimulus and product shortages could take some of the electric charge out of q3 and its taking some of the charge out of best buy shares which are down 4. 2 . Starbucks spicing it up in this final hour. Steeple going bullish on the java giant due to the new Curbside Pickup options and other initiatives. Although it wasnt cited by analysts, i have to think that starbucks early jump on Pumpkin Spice season has something to do with the jump we are seeing in the stock right now, up 4. 7 to 82. 38. Yesterday at this hour we were playing this game of hot or not for millenial stocks. Right now, we should tell you that directly after the show, in a surprise announcement, S P Dow Jones indices, this is the company that oversees both indexes, pulled off its own version of hot or not for the dow. They booted exxonmobil, which yes, has been listed on the dow in some form or another since 1928, and slid salesforce in its place. Honeywell international now in while defense contractor raytheon is out. Then the S P Dow Jones replaced pfizer with biotech amgen. Even though the changes dont take effect until august 31st, you can see just what an invite into the dow club is doing. Youve got the newbies all moving higher with salesforce jumping 4. 25 , honeywell better than 3. 5 . While those call it invited to leave are all moving lower. Let us get to the floor show traders. Tom, you are a nyse trader. If you own the newly invited names you are thrilled but if you own exxonmobil, pfizer, raytheon, blame apple because its fourtoone stock split affected these moves, correct . Thats correct. Liz, the fourtoone split was going to take the tech weighting of the Dow Jones Industrial average from 27. 6 down to 20. 73 so they had to find a tech stock to fill that gap, because its a price weighted index. The thing about the Dow Jones Industrial average, its more symbolic. This is what main street looks to for confidence and for the health of blue chip companies. The majority of assets under management are indexed to the s p 500 so while its symbolic, they did choose salesforce. You said as far as your dream stocks for the floor traders, i dont know if i would have chosen salesforce per se. Its a bit smaller. Its not quite a blue chip stock at 185 million market cap. I might have looked to something more like facebook which is 750 billion market cap and is also growing at a fast clip. Liz why do you think they didnt pick facebook . This is interesting to me. They actually didnt pick facebook because of control issues. Mark zuckerberg owns too much of the voting stock and it was the same issue with Berkshire Hathaway which would have been my second favorite choice for one of the replacements. Warren buffett owns too much of that stock as well. They had to choose salesforce and amgen and honeywell because they had disbursed ownership. Liz phil, give me your ideas of what you would have thought they would switch out and you as a longtime trader, this shift of three in, three out, i think it came as a surprise to a lot of investors. It really did. The dow is one of the stalwarts. You dont see many changes. Im still shocked General Electric got kicked out, right . Thats been there since the beginning. Youre kicking out all the original members out of this club here and its amazing. I feel bad for exxonmobil. Did that mean big oil [ inaudible ] . We cant call them big oil if they cant stay in the dow jones average, for heavens sake. If we had to kick one out and put one in, i would have said intel, youre out of here. I think they have been very disappointing in a way they are buying back their own stock, i dont think they are being very inventive in this new world and i would replace it with broadcom, which is better reflective of the new world we are living in because it covers everything. It covers gaming, artificial intelligence, and data. I think that would be more reflective of whats going on for the overall blue chip space. Intel i think is not as reflective as it used to be. It definitely used to be when everyone was buying their pcs and that was a real barometer of what was going on in the economy, i think that changes a lot and i think broadcoms a better pick for that. Liz although it used to be ivago and there are ownership issues there we talked about in the past. In this very political and heightened sensitivity era, they are looking at everything before they add anything or take them away from the dow. Phil, tom, great to have you. Thank you so much. Check of the s p, a record here. We are very close to session highs. Same with the nasdaq. Its night two, speaking of politics, of the Republican National convention, set to kick off this evening. Tonights headliner, First Lady Melania Trump, who is expected to speak a little after 10 30 p. M. Eastern time. And also on the schedule, secretary of state mike pompeo, Kentucky Republican senator rand paul and Covington High School student nicholas stanton. He sued the Washington Post after being portrayed as the instigator of this viral 2019 confrontation in washington, d. C. To Hillary Vaughn live from Lafayette Square in d. C. Hillary, the focus of tonight, what do you expect it will be . What are you hearing . Reporter we are expecting to hear a lot about the economy. Thats because when you look at the lineup of speakers tonight, a lot of them are going to speak on those Economic Issues but last night, the main takeaway from republicans speaking at the convention to voters, your safety and also your wallet is on the ballot. Now joe biden wants to come for your pocketbooks. Thats one of their solutions for the pandemic. They want to take more money from your pocket. Hes already talking about shutting the country down again. Reporter tonights lineup, senator rand paul, a budget hawk and fierce advocate for fiscal responsibility. Tonight, hes probably going to mention the more than 6 trillion in new federal spending the democratic nominee joe biden wants to spend. We are also going to hear from white house economic adviser larry kudlow, who is likely going to bat for President Trump over how hes handled this economic crisis that has been triggered by the pandemic. We heard some of that when he told our Stuart Varney this morning that the downturn had nothing to do with their policies leading up to this pandemic and also presented an optimistic outlook for jobs and businesses. The Biden Campaign is offering their rebuttal today, saying the economy was great because of obama biden and its not now because of trump, not the pandemic. We heard about the great economy that donald trump inherited from barack obama and joe biden, but not a morsel of regret for how trumps failed leadership has squandered it, starting even before covid hit. Reporter secretary of state mike pompeo will also deliver his remarks from jerusalem and First Lady Melania Trump will speak from the newly refreshed rose garden. Those two speeches happening while accusations are swirling about whether or not they violate the hatch act by spending taxpayer money to hold those Campaign Events but liz, the white house has pushed back on that, flatly saying look, any expenditures whether its at the white house or pompeos speech in jerusalem, are going to be covered by the campaign and by the republican party, not by taxpayers. Liz . Liz okay. Good to know. Hillary, thank you so much. Hillary vaughn. With the closing bell ringing in 50 minutes, heres a question for you. Is amazon ready to go luxe . Womens wear daily sees the ecommerce behemoth will launch a luxury platform with dozens of high end label mini shops next month. But are consumers over it . Are they even ready to pay any more full price for dior, gucci and the current economic climate . Next, the founder of the realreal is here in a fox business exclusive. Wait until you see how the stock has performed. The claman countdown is coming right back. Crude oil now moving slightly higher in the aftermarket session. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Liz all right. Welcome back. Dow is still down about 88, but were at records for the s p and nasdaq. While reports say that sweats and pajamas are the de facto business suit for those working at home, lets keep it real. Or should we say realreal. Its up 36 quarter to date versus, for example, we thought we would compare them to burberry which is down 8 . Today, the realreal released its latest resale report and the findings show consumers still adore their luxury goodies even in the midst of the pandemic, but in a different form. What happens if amazon enters the space, which there is a report they will. In a fox business exclusive, the realreal founder and ceo julie wainwright, who started this company years ago at her kitchen table, joins us here. Thank you so much for being here. You know, your stock is very strong both quarter to date and month to date. To what do you attribute that . Are people kind of getting over the sweatpants issue during zoom meetings trend . Well, look, our stock is a reflection more on our business and other dynamics but we did have a rough patch. Our business, we had to close our operations that are in california, social unrest further added stress to the business, but in july, we started coming back. Very exciting time. And we see growth in front of us. But i have to say, our demand never faltered. It was more of our ability to process goods. On that level, we are on the upswing again. Liz are you hiring people back . Specifically numbers, im very interested to know that, because i know as you said, you had to lay people off, as Many Companies did. Yeah, it was actually horrible to lay people off and furlough. We furloughed about 400 people and brought almost all of them back. Most of them were tied into our luxury consignment offices or Retail Stores. The Retail Stores are slowly coming back. L. A. And the two in new york and San Francisco which opened only two days before we had to shut it down. Even San Franciscos coming back and we are [ inaudible ] retail. In fact, we are going ahead with our store opening in chicago. Liz thats good to hear. Okay. Brick and mortar, chicago. Is there a date for the opening of that . It will be sometime in q4. Liz sometime in q4. How much of the gains that you believe youre seeing when it comes to people and the demand that they have for luxe items that are gently used and checked by so many of your experts that you have, which makes them authentic and authenticated, how much do you think that had to do with the stimulus checks . Well, we are a little different. I think its hard to know. I read studies that said that some people say 50 of their volume were due to the stimulus checks. I would say were not really swayed that much. Maybe in the sneaker market, i have heard sneakers were really swayed by stimulus, but stimulus checks are now gone. What were seeing is increasing demand. So just on the surface, its hard to tell but on the surface i would say we werent. Liz talk to me about this prospect, if you will, that amazon wants to enter the luxe space with these mini stores on its site, where sellers can actually control the prices, but that amazon will have the heft of its supply chain behind it and its ability to deliver in realtime or rather, you know, same day almost delivery. Do you look at them as a threat, because any industry that sees amazon entering gets a little nervous. Not at all. Look, first of all, i dont know who signed up but people have a different definition of luxury. The top Luxury Brands [ inaudible ]. Having said that, the contemporary brands need a lot of help. So if it spurs their growth and helps them in this difficult time, i think its great for them. The resale market has always had a different rhythm than the primary market but clearly, we need the primary market to succeed in order for us to have a secondary market. So i really do hope it is most focused on high end contemporary and they need help and we support that. Liz i understand that there has been one very hot seller during the pandemic and it is sort of a hack for face masks. Right. In fact, that caught us off guard but hermes scarves have flown off the shelves. We cant get enough of them. People have been wearing scarves and face masks as soon as it became mandatory. Its a great fashion statement. They are doing phenomenally well. Liz well, you know, look what i have. I have, i have looked on the site, on a site, on how to do this. This is my hermes scarf as a face mask. They have explained the hack. I dont want to get lipstick on this thing. Thats why i put, yeah, i put the tissue in there. But theres a way to describe it but here it is. My hermes matching face mask. Its fascinating to see that listen, there are Silver Linings to this pandemic. Julie, good luck to you. We will be watching and we will be watching the stock which as we mentioned to our viewers, is up 35 , 36 quarter to date. Thanks, julie. Thanks so much. Stay safe. Liz you, too. Closing bell, we have about 40 minutes left and we do continue to see a gain for the s p, a gain for the nasdaq, but yeah, dow is faltering, down about 81 points. Speaking of the faltering, as the wildfires continue to rage across northern california, people are left with nowhere to stay but airbnb which is expected to go public soon, now offering free housing to those who have been displaced under its open homes effort. The home sharing rental site is asking hosts to offer a space in their homes. Those in need can book a free room between august 20th through september 10th. We will bring you the very latest on the fires but also, we are about to show you the exact radar path of hurricane laura and the punch it could hit on the Southern Coast of texas. Thats next the claman countdown. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Liz breaking news. We want you to turn your attention to the screen here. Youre looking at the radar of hurricane laura barreling toward the gulf states. She is gaining strength as she moves. Laura is expected to hit both texas and louisiana between tomorrow night and thursday morning as a now category 3 hurricane when it hits, bringing winds as high as 129 miles per hour. As when it was a tropical storm, rather, laura killed at least nine people in the caribbean. Offshore Oil Production in the gulf of mexico has been cut by 82 , just below the 90 Production Cut that we saw 15 years ago when Hurricane Katrina struck. 310 oil and gas facilities in the gulf of mexico have been evacuated. 16 drilling rigs have simply outright been moved. Crude gasoline seeing the highest prices since early march. Crude jumping 1. 7 right now to 43. 36. The hurricane is also having an impact at the pump. Gasoline prices are up two cents, two cents a gallon compared to just one week ago. Hurricane laura not the only Natural Disaster the u. S. Is facing right now. Lets turn west. Northern californias wildfires are still raging. Firefighting crews pouring into the San Francisco bay area right now as more than 200,000 people have been told to leave their homes. California fire says more than 1. 5 million acres have been burned a