Launching that service here in the u. S. Later this month. We are staying at home and we want our groceries and other purchases delivered and quickly. And we are on that story throughout the program today. As for the overall market, dead flat following a selloff on tuesday but keep in mind the dow and s p are up 40 from their march lows and the nasdaq is up 50 since then. Pretty impressive. President trump says he will pressure governors to reopen schools in the fall. This is a major step in getting the economy back on track. Kids go back to school, parents can then go back to work. That, of course, will be an issue for sure in the election, where joe biden has the lead in all of the polls, if you believe them, and even some wall street firms are apparently preparing for a biden win. But we have a democrat pollster coming up in a few minutes who says the race is a lot closer than the polls would indicate. Just wait until you hear what congresswoman ilhan omar wants to do to the economy. The big three hours ahead as always. Im Ashley Webster in this week for stuart. Varney Company Begins right now. As long as our economy and political systems prioritize profit without considering who is profiting, who is being shut out, we will capitulate with inequality so we cannot stop at criminal justice system. We must begin the work of dismantling the whole system of oppression wherever we find it. Ashley yep. You heard it. Congresswoman ilhan omar says dismantle the economy because its oppressive. You know Charles Payne will have something to say about that. He is chomping at the bit, i am sure, and he is coming up later in the show. But we begin with what we are calling the clash of the titans. Walmart going after amazon and grocery delivery right at the center of it all. Lauren simonetti joins us this morning. Lauren, this is a big move from walmart. Lauren good morning. It sure is. Amazon prime meets walmart plus. Walmart is now building on yesterdays 7 gain, its up another 1 , after that report that its launching its own version of amazon prime this month for 98 a year, less than amazons 119 charge. It would provide sameday delivery for groceries which is something walmart already does, but it apparently wants to build on that. Throw in some other perks like discounts on gas, thats something amazon cannot do. Bottom line, this is what you mentioned, the pandemic accelerated what we want and how we get it, making delivery a musthave for many. Walmart cant compete with amazon on all things, specifically digital. Walmart sold its voodoo streaming service to comcast in april. It apparently wasnt working for them. Ashley interesting, though. Big development. Lauren, thank you very much. Uber, believe it or not, also getting into the grocery game. Susan li, good morning to you. Come on in. The question is, can uber compete . Susan thats a good question. They bought corner shop last year so uber now launching grocery delivery in canada and latin america, also available right here in the u. S. Later on this month. Corner shop will be available on ubers main app where you ride hail and also uber eats but when it launches it will also be included in uber Subscription Service so we are talking about rider passre der er nd a uber confirming that its buying up postmates for 2. 65 billion but is scrambling, uber is scrambling to expand its food delivery options as its Main Business of ride hailing is really struggling to recover, still down some 70 in may at last count. As you mentioned, its a crowded delivery field. We just talked about walmart. Amazon is a giant in the sfpace. Kroger, instacart, those are the main players in grocery delivery. Interesting to see how uber competes. It does have 100 million users on its platform. Thats some strength they are coming to the table with. Ashley its quite a battle setting up. Susan, thank you very much. To talk more about this, lets bring in market watcher shah gilani. Shah, it seems like food delivery is the next, well, lets call it frontier, right . It certainly is. This is a big deal for walmart. Theres a tremendous job chasing amazon for the most part and keeping up, and sometimes amazon has to play catchup to walmart. Terrific news for walmart investors. The stock will be stronger because of it. It will continue to be strong. Its been terrific. So is amazon, obviously. But the business is tough. Theres very little margin in the delivery business. Uber paying 2. 65 billion for postmates was a bargain relative to the fact that door dash, the number one Delivery Company in the states which is private, filed privately for an ipo in february. It was valued at 12. 7 billion last year, and lost 450 million. Its a tough space to gain traction in, but it makes sense certainly for walmart and amazon. Ashley youre right, small margins. Shah, stay right there, if you will. I want to move on quickly to this story. Disney world in florida is scheduled to reopen this weekend and lauren, it appears the show will go on as planned, right . Lauren the magic will happen. Disney will open the magic and Animal Kingdom in orlando this saturday which is the 11th of july, as they said originally. Epcot and Hollywood Studios will open july 15th. This is happening despite a rise in virus infections in the state of florida, where more than 213,000 people have tested positive as of this morning out of 2. 3 million tests in the state. Now, disneys chief medical officer says advanced reservations, limited attendance, physical barriers, temperature checks, required face masks and a deep park cleaning every night will help to ensure a safe experience but look at these pictures. To go even further, they are putting up plexiglass barriers on the jungle cruise, the safari trucks and other attractions throughout the parks. Disney is doing everything that disney can do but the airlines have to help out and the hotels, to keep everything safe so you can get the tourists to go to orlando. Ashley just gives you an idea how difficult it is to start doing business again. Certainly not business as usual. Lauren, thank you very much. Lets talk about tesla, why dont we. As we said yesterday, simply on a tear. This could be, you could argue, the stock of the year. Susan, they just keep hitting high after high. Susan so fifth straight record, relentless, 223 rally since the march bottom and teslas market cap now at 258 billion. That makes tesla bigger than 97 of all s p 500 companies. Now, the rally has killed a lot of the tesla nonbelievers. Even barclays and Morgan Stanley capitulated yesterday, saying the stock might be overvalued but theres nothing stopping tesla from going even higher from these levels. Morgan stanley, in fact, put a bull cape target of 270 on the stock. Also more bullish, the news this morning coming from china and according to chinese data, teslas model 3 sales in china went up 35 in june from may. We saw may, those tesla sales tripling from april. You see theres a sequential recovery taking place there. China is really a big reason the stock has rallied so much this year, thats despite fremont, the only u. S. Car plant for tesla, being closed for most of the second quarter. They overdelivered 91,000 cars in the quarter, much more than anticipated and why Analysts Expect a fourth straight quarter of profit for tesla which means they will likely be included in the s p 500 and yes, that also means index funds need to buy the stock so the price goes higher. Ashley pretty darned impressive, to say the least. The numbers are backing it up. You are absolutely right. Lets bring back in shah gilani to talk about tesla. Shah, what do you say, you buying into the hype . You cant save the hype. Anybody who tried to short that believing it was overpriced anywhere along the line for the last several years has just had it handed to them. Hats off to elon musk, hats off to the company. The cars are fantastic. Theres no reason the stock cant go higher because investors believe in the tesla story. Yeah, i think its got actually higher to go. The 2,000 plus mark is a bit of a stretch but certainly its got a lot higher to go from here. Ashley yeah. Hard to bet against it. If you try and short it you will get a pair of red satin shorts in the mail for your trouble. Shah, thank you very much. Thank you very much. Next one, we got the latest read on Mortgage Applications. Lauren, looks like more good news for the housing market. Lauren its sizzling. Another 5 increase for Mortgage Applications last week. They are now 33 higher than last year. The virus and the violence pushing people to change how and where they live and low rates, look, thats just helping people to afford their move. The Mortgage Bankers association also says applications to refinance, they are up 111 from last year. Rates have been so low for so long that the benefits from a refi are starting to dwindle a little bit. You cant save that much since rates have been so low. Ashley thats very true. I like the word sizzling. Really sums it up on this wednesday. Thank you very much. Lauren im starting to sweat, ash. Ashley no sweating. Lets check the futures. Not exactly sizzling, but after yesterdays selloff, we see more green essentially flat on the dow, the s p and the nasdaq up. 33 heading into the open which is now just about 20 minutes away. President trump taking aim at harvards reopening plan that includes strictly online classes while still demanding the students pay nearly 50,000 in tuition. I see where harvard announced that theyre closing for the season or for the year, i think its ridiculous. I think its an easy way out. I think they ought to be ashamed of themselves. Ashley that attack coming as the president is pushing to reopen schools across the country. We are on that story. We will be debating it. Meantime, in florida, cases are on the rise and cities like miami are rolling back reopening plans. So question is, how do you stop the spread of the virus . The mayor of miami will join us to discuss. Investors are starting to ask what if joe biden wins in november . We did the digging for you and we will show you what it could mean for your money. We are also talking to a pollster who says the race is a lot closer than you think. Thats next. Looks like they picked the wrong getaway driver. Theyre going to be paying for this for a long time. They will, but with accident forgiveness allstate wont raise your rates just because of an accident, even if its your fault. Cut sonny. Was that good . Line the desert never lies. Isnt that what i said . No you were talking about allstate and insurance. I just. When i. Lets try again. Everybody back to one. 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Retire better so you can. Iredefined the wordng thschool this year. Its why, at xfinity, were committed to helping kids keep learning through the summer. And help College Students studying at home stay connected through our university program. Were providing affordable Internet Access to low income families through our internet essentials program. And this summer, xfinity is creating a Virtual Summer camp for kids at home all on xfinity x1. Were committed to helping all families stay connected. Learn more at xfinity. Com education. Can you imagine, were coming out of this pandemic and yeah, we see a very strong second half this year, probably 20 , which is great, but what about 2021 and 2022 . What are businesses going to do, going to stop investing . I think its a huge danger to the stock market but perhaps more important for all of america, for the Blue Collar Workers who have done so well, at least up until the pandemic, this is a job killer. Ashley all right. That was larry kudlow on fox news just in the last hour talking about the impact of a joe Biden Victory on the market. Lauren, come back on in. Where would we see the biggest Financial Impact if indeed joe biden became president . Lauren well, higher tax rates means job cuts in many instances. Rbc capital markets, they say a Biden Victory, hes already said he would raise the Corporate Tax rate to 28 , its now at 21 . It would be the highest in the developed world. That would be particularly bad for retail. Many companies, i forgot this, i had to look all this back up, they returned their tax breaks savings to workers, higher wages, better benefits, and thats why rbc is predicting a biden win could spell job cuts at some of these Stores Including lowes, walmart as well as best buy because after you have given someone a raise, you cant necessarily take it back and cut their pay. You could, but they might lose their job or some of their hours instead. Ashley all right. Thats pretty clear. Lauren, thank you very much. Lets bring in now our good friend doug schoen, former bloomberg and clinton pollster. This is interesting. You say all of those polls that say mr. Biden is ahead are not telling the true story of the race. What dum . What do you mean . Biden is ahead. Hes not ahead double digits. The swing states which will make the difference, biden is ahead by an average of about six points which is very different from 10, 11, 12 and even 14 points in some of the public polls. Its a lot closer than the commentators are saying. Ashley we have been down this road before. If you go back to 2016, hillary would be Hillary Clinton would be president and brexit would have never happened, right . Thats exactly right. A number of the people supporting biden now are independentleaning republicans and republicans who i expect will come back to trump as the election approaches, partisanship gets stronger and we start surveying those that are going to actually vote rather than just registered voters. Ashley im assuming this is all about the battleground states, right . Absolutely. If you go through the realclear politics averages and you look at florida, wisconsin, pennsylvania, arizona, you see plus 5, plus 6, you dont see anything thats really out of line except maybe one or two outlier polls but ashley, this race is very very close. The democrats know it. The one who seems not to really appreciate it is donald trump and the republicans. I think they panicked for reasons that go beyond the data. Ashley let me ask you this. Put you on the spot. Who does win in november, in your opinion . I think its going to be very close. Right now, there is an advantage for joe biden. I think thats clear. Its a narrow advantage. But as we saw in 2016, if the swing states move in the direction of the president , its still possible that he could lose the popular vote and win the electoral vote with the swing states. Right now, slight advantage to biden but ultimately, im not making any final predictions today. Ashley how critical is it that the choice for joe bidens running mate, could that tip the difference . I think thats very important, ashley, because joe biden is i believe 78. Any Vice President has to be ready to serve as president from day one. I think he needs to pick a wellqualified running mate. It will almost certainly be a woman. I think Kamala Harris is the most likely candidate he will choose as we sit here now. Ashley its all going to be fascinating. We love covering it. We are just about four months away so we will get answers fairly soon. As always, thanks for joining us today. We really appreciate it. All right. The president just tweeting about schools, by the way. Here is that tweet. He says in germany, denmark, norway, sweden and many other countries, schools are open with no problem. The dems think it would be bad for them politically if u. S. Schools open before the november election. But is important for children and families. May cut off funding if not open. There you go. The president doubling down on his desire for kids to get back to school. Reopen the schools for the fall. All right. Lets change the discussion. Lets get to facebook. Susan li, that meeting that mr. Zuckerberg had with civil Rights Groups didnt go so well, right . Susan disappointing, according to the civil Rights Groups in attendance, the naacp, the antidefamation league, the color of change, the free press, all four groups in attendance meeting with zuckerberg, Sheryl Sandberg, the c. O. O. And other executives. Heres a s