Up pressure. A big thing the marked is watching into the weekend, stimulus negotiations in washington they appear to be stalled with no breakthrough yet. But that could change. We have 59 minutes left of trade. We do sara, as i know you were equally with me on this, we also happy birthday wishes to closing bell and power legend bill grijive who shargri griffith who shares our birthday and mrs. Carl quintanilla. It goes on and on this great seventh of august. Popular day great day it is because of them, not us. Coming up on todays show, tensions ramp up between the u. S. And china, well speak with i ian bremmer and why a worldwide depression is coming plus, the weeks storm driven Power Outages have been a major headache for people working at home. But they gave a boost to a generator company. Well speak with the companys ceo in a few minutes lets focus on the big stories that were walking mike santoli is tracking a volatile market session. We have the latest developments on the stimulus stalemate and we are looking at the fallout from the president s executive order on chinese tech companies. Mike, lets kick things off with you. Interesting dynamics in terms of what is driving it. The jobs number was Strong Enough to reassure investors that more or less this recovery fitful as it is remains on track. However, it did cause we talked about this 22 hours ago a strong number causes the u. S. Dollar to bounce and reversal of all the trades benefiting from the u. S. Dollar. That includes gold, silver which are down that includes treasury yields lifting a little bit today and big Growth Stocks. The nasdaq underperforming. Thats whats causing the slippage as you can see, its really not to any net detriment to the overall trend. Its okay. The market settling back on the s p 500. The equal weighted s p 500 outperforming. Value stocks outperforming the big Growth Stocks. I looked at the top of the nasdaq of the biggest dozen stocks in the nasdaq, only facebook is up and just marginally just really massive flow out of the big winners that have benefitted from this kind of low dollar deflationary feel low and negative yields as well. Take a look at this breakdown of the market just talk about the winners and losers and the different ways can you look at whether theres been a broader or narrow rally this is from a Data Research firm the s p 500 stocks on a cumulative basis that have outperformed the s p 500, this is a rolling daily tally how many are outperforming you see this is going straight down basically, the mega cap stocks are boosting the s p 500 so much that the average stock is not really able to keep pace on an average basis. However, if you look at just the straight up or more stocks up or down on a given day, thats actually looking up. So the trend is up in terms of stocks being relatively strong in terms of the numbers of stocks that are up but not so much how much they are up just a quick side note here. July, according to b of e is the worst month for actively managed equity funds in two years. This is why, guys. Mike, just quickly in terms of the underlying factors in the market today value versus growth and significant outperformance relative to what weve seen late but also, were seeing the dollar roll over as a bounceback to the upside having been very weak and gold rollover to the down side having been strong for a long time. Yeah. Its basically been a reversal of that carousel of asset market moves that weve been talking about that is mostly been initiated through the movements in the dollar. And i think for the other markets for gold and silver, its just an occasion to say lets not assume this is going to be the way it goes. You know, in a Straight Line you look down, you see what the altitude is and take some off the table. It seems to me thats whats happening. That Balance Sheet is strengthening. Yeah. Its been shrinking actually, its not grown on a net basis since mid may. And stocks are up real big all that stuff has been going on the whole time by the way, as somebody informed me, its the dollar swap line thats are the reason the fed Balance Sheet is down. You need to shout that at him, sara thats what he is used to. Right all caps he hates that. That is true im going to just like concede that point to you. You have to do that from now on every time in the show mike, thank you. Now to the big question mark the moving stimulus stalemate. We have the latest developments. Sayer yashgs democratic leadership has been meeting with the white house for about an hour and a half. It looks like there is a little activity outside the Speakers Office so well see if that meeting is ending any time soon but i will say that heading into it, both sides remain pretty dug into their positions House Speaker nancy pelosi said earlier she had offered to come down to 2 trillion for the pricetag of the package. But that the white house rejected that deal yesterday i offered to them well take down a trillion if you add a trillion in. They said absolutely not if we could do that, if we take down a trillion and they add a trillion, well be within range. Democrats said the opposition from the white house is vehement and indeed walking into the meeting treasury secretary said that offer was a nonstarter. The white house chief of staff said that it was not plausible that democrats would just change the time line not really changing the numbers still, even the fact that they are talking is a small step. It was unclear yesterday whether they would even return for another round of negotiations or if President Trump would make good in his threat to move forward with executive actions of his own so, guys, the last minute haggling is not over just yet. Thank you we also want to ask you about a new warning from u. S. Intelligence about election interference what can you tell us there yeah. The director of the National Counter intelligence and Security Center just said that there are foreign adversaries looking to undermine u. S. Elections but that it is unlikely and difficult that they will be able to interfere or manipulate the results specifically, they point to china, russia, iran. They say that china does not appear to want President Trump to win because he seems unpredictable. Russia, however, seems to be targeting Vice President joe biden. And iran is indeed trying to just undermine confidence in the democratic process overall so this is something that is also coming up in the stimulus negotiations democrats looking for money to safeguard elections. Republicans saying thats not related to the virus at all. Thanks so much for that down. 25 on the s p 500 as things stand the other big news out of washington, President Trump issuing executive orders that would ban transactions to tech firms. We have a look at one of the companies, ten cent, and what the fallout could be for them. Hey, d hey, wilf, happy birthday to you both they have flown under the radar until now. But in many ways, a ban would have wider reaching implications than a tiktok ban. Wechat is a super app. Which he this he can spend their entire digital day inside of it from messaging to shopping to streaming, even booking doctors appointments american businesses operating in china such as mcdonalds, disney, starbucks, they rely on it to reach customers. St so if a ban affects their ability to work within that app, it could really set them back in important market apple and google too if chinese users decide to switch devices altogether because they cant accent ten cent apps the Investment Empire is massive. Spanning 450 Companies Globally according to pitch book. American household names like snap, tesla and a number of big gaming players are part of that portfolio. Now we dont yet know if the order would affect those transactions but it is safe to say that the fallout could also be fli applicanted and significant. Turning off the wechat messaging app would cut off a lot of chineseamericans if family, friends, and just back to you. Thank you lets get to julia now for more on the other company that is included in that ban, bite dance. It is a parent of tiktok julia . Thats right. The executive order would ban bitedance from doing business with u. S. Firms effectively banning the google and Apple App Stores from offering the app and essentially setting a 45day deadline for tiktok to sell the u. S. Operations. The executive order saying they capture information from the users and this dat collection threatens to allow the communist party access to americans personal and pro pry takery information saying the United States must take aggressive action against the owners of tiktok to protect our National Security. Tiktok responding that there has been no due process or adherence to the law saying, we will pursue all remedies available to us in order to ensure that the rule of law is not zbarddiscardn that our users are treated fairly facebook which Just Launched reels on instagram and snap both of their Companies Shares moving higher on this news of the growing threat to tiktok sara and wilf, happy birthday and back to you. Thank you very much for that. Sara, i was going to bring up the other point, even if you put aside the National Security fears which may or may not in the end prove to be warranted or not, if this was just a level Playing Field argument, some of the moves would be totally legitimate lets not forget the only reason the likes of ten cent and we chat and tiktok are as big as they are is because from day one facebook, amazon, google and the other u. S. Platforms were banned and d makes absolutely legitimate point the likes of Chinese People in the u. S. That use wechat to stay in touch with people back home that they might then be cut off via that platform. That wouldnt have been the case if facebook existed from day one in china everyone just used that as the global platform. As it happens, because of chinese protectionism, these Big Companies in china were able to grow to the size that they are and there is a couple of alternatives for people who live in both america and in china but again, even without National Security, lets level the Playing Field and do to the chinese firm what was done to the u. S. Firms this is warranted in that sense. For sure. It could be potentially coming late as she laid out it could be very tricky to untangle some of the business relationships in particular that u. S. Firms have been doing with these companies. The economies are reliant on each other at this point whether its fair or not and National Security. So there is going to be a fallout. I would just say as far as the market is concerned and how much fear there is around this issue, i watch the dollar versus the chinese currency it hasnt broken above seven once it does, that could be the red light this is really getting to be nerveracking, intense, and potential for economic fallout. Were watching that closely. Its no the there yet clearly, tensions are only rushing higher. For sure. If were criticizing if, the west is criticizing them for steeling i. P. Is the right response for some tit for tat response its no the steeling ip baaling. There are lots of levels to this and is he escalating were lower by. 3 on the s p 500 with 48 minutes left of the session. After the break, the prince of darkness, thats what bank of america labelled generac in a note today in what could be a rough Hurricane Season well speak with the companys ceo next he is not the prince of darkness were back in a couple minutes ive always been fascinated by about whats next. And still going for my best. Even though i live with a higher risk of stroke due to afib. Not caused by a heart valve problem. So if theres a better treatment than warfarin, i want that too. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. Whats next . Reeling in a nice one. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Ask your doctor about eliquis. And if your ability to afford. Your medication has changed, we want to help. Welcome back dow down 50 points four million homes on the eastern seaboard left without power from the hurricane earlier this week. Forecast for the 2020 Hurricane Season are even more dire. Updated to extremely active just yesterday. Scientists predict up to 25 named storms one name that could seemore business as a result is generac. Accord fwoofrpg according to bank of america, the prince of darkness is also seeing business from the stay at home pandemic. Joining me is the ceo. Thank you for joining us still many people across new york, new jersey, connecticut without power. What is demand for the pryour pt like at this moment . Thanks for having me on happy birthday st there is over a million homes and businesses still without power today. So this is four days after the event. And the storm just hit a very populous region. An area where you have a lot of above ground Power Distribution and a lot of trees and thats just a really bad combination. Or a good combination for us you know, the demand for our products has been very robust going all the way back to last fall with the shutoffs in california for fire safety reasons and its really accelerated here with the pandemic people working at home, shopping at home, entertaining at home, educating their kids at home you know, the idea of having a power outage now more than any other time i think is just completely untenable for people. Is having a generator safe, aaron . I read stories all the time of people getting Carbon Monoxide poisoning or, you know, handling their product unsafely what are the actual statistics on that . Yeah. I mean its actually for the millions and millions of products that go out there, its a relatively small number. Obviously, the products have to be used in accordance with all the safety literature that is provided with them but the permanently installed units, the units that sit outside your home hard wired into the homes electrical system run off natural gas at the home those are the safest version of those products theyre fully automatic. They stand in for the utility when the power goes out. Can you go on living your life uninterrupt philadelphia y uninterrupted if you have one of those products. How often do people come out to buy these after they would have needed one and then perhaps never end up using the generator that they buy . Yeah. Its a little bit like an insurance policy you know, i think obviously people dont know when the power is going to go out youre not sure. For us, were not sure where its going to happen in terms of making sure we got product in the right area of the country to satisfy demand, thats always a challenge. But for people who, you know, they look at this product as a way to protect their home and the way to protect their family and in particular again, with the pandemic creating a shelter in place situation for so many people, we really believe that people are investing in their homes in a completely different way. Theyre going to be spending a lot more time at home and having a constant source of power for everything you do in your home you really sit there and think about it everything from, you know, the food in your home to Internet Connections to all of your communications again, its you become things get really primitive really quickly i have a separate and longer term question. One thing that held become electric vehicles is the quality of Battery Technology which has come on leaps and bounds as it relates to the electric vehicle. Are we any closer to homes being Energy Independent from the grids and being able to whether it is wind or solar and store it so the battery in a home can provide them power when they need it . We think there is a massive change coming in the grid. The energy grid as we know it, the idea of centralized power being produced by nuclear or gas or coal and distributed hundreds of miles away to your home or business that, model is going to be flipped around in the next ten years. Youll see a lot of on site Power Generation from solar and wind and a key component of that and deploy it different times during the day solar cost comes down. The combination of that technology shift and then obviously the shift thats have been on going with regulation incentives that are out there around the new technologies we now have storage devices were selling the devices in california and other parts around the u. S theyre coupled to solar and theyre popular. Yeah. Aaron, quickly, generators are expensive. What percentage of american households actually have one so for the permanently installed units, its really only about 4 of homes actually have one of the products for the small portable generators, less than 15 . So we see that as a penetration opportunity. The cost of the products continue to come down. Again, the need for power continues to rise. Outages is on the rise heart to dispute the fact that you look at this hurricane forecast, you look at the California Wildfires and all these other triggers for Power Outages<