Nasdaqs going to be up about 60 at the opening bell. From the low of march 23rd to the close yesterday, the value of all publicly traded companies has gone up 12. 2 trillion. You have never seen anything like that before. Next, tesla. Musk does it again. Grabs the headlines with a five for one stock split. That may bring in more Retail Investors. Doesnt change teslas business, but the stock is up bigtime premarket. A gain of 84 bucks per share. Apple announced a four for one stock split a week ago and apple this morning is leading the big tech rebound. Its up four bucks. Then theres this. The big ten, now the pac12 have canceled their football seasons. Looks grim for the college game. This is a financial story. Colleges will lose billions. That virus changed everything, didnt it . Larry kudlow joins us again later. What does he think of a 12 trillion increase in the value of American Business in less than five months . Hes got something to say about it. Hes on the show. Wednesday, august 12th. Varney company is about to begin. Stuart lets get right at it. Stock of the day, tesla, way up this morning. Susan, that is a very big 84 gain. Why is it up so much . Susan stock split. Five for one starting at the end of this month which is usually a bullish sign that the company is expecting the stock to go up again. It also makes it cheaper for average investors to afford the stock. 1400 might be hard to afford for some, but easier when it gets down to around 300 a share. Stock splits dont change the value of a stock or the company. Doesnt really change much for tesla given its not in the Dow Jones Industrials which is price weighted while the nasdaq and s p 500 are market cap weighted. Stock splits have been popular this summer, as you indicated. Apples splitting four for one near the end of august. Apples stock rallied 10 since that announcement but probably more to do with their record june earnings. Tesla still waiting to hear if it will be included in the s p 500 after four quarters of profit but then you have battery day upcoming on september 22nd. I guess those that are hoping for teslas stock to eventually fall finally got their way. Maybe not in the way they had hoped for but still, its not value created. Stuart thats true. Back in the day, if a stock in my day if a stock got to say 100 a share, they split. Nowadays, you can go to what, 2,000, 3,000 a share like amazon, and stay unsplit. Susan look at googles stock, amazons stock. Might be a warning shot to them that maybe they should split their stock. Stuart i wonder if musk will set a trend on that. Hard to keep up with vaccine news these days. It comes so thick and fast. President trump says the government has reached a deal with moderna for their vaccine. Lauren, details, please . Lauren all right. The stock is up 7 as a result. Moderna will get 1. 5 billion from the u. S. To make 100 million doses of their vaccine. Americans as a result get it for free. The government has the right to buy an additional 400 million doses. In all, the government has spent 9 billion on vaccines and research. Moderna has received about 2. 5 billion of that which if you were to price out the cost of a vaccine per dose, its 25 but because the government is buying this, it is free for us. When it comes out hopefully this year. Stuart it looks like that may be a positive influence on the market as well, because we are still up 300 points for the dow. Good positive vaccine news. The other big story of the day, joe biden choosing Kamala Harris to be his running mate. Lets bring in market watcher shah gilani. Does the kamala pick affect the markets at all, in your opinion . I think it does. I think we are seeing a reflection of that this morning. I think the futures are indicating that the moderate pick as opposed to one that could have been a far left pick, as Vice President ial candidate stuart wait, shah gilani. Is a positive. Stuart you think this is a moderate pick . Whats moderate about yes. Stuart the policy outlines we have already received from Kamala Harris . Relative to i think what Elizabeth Warren might have put forward, relative to some of the other candidates, relative to a more vehiclxing susan rice cann dad candidacy, she is more moderate. In the democrat party, she is considered moderate. Stuart okay. If shes considered moderate and thats a plus for the market, why else, what other reason do we have for a 300 point rally for the dow, again, close to 28,000 . The markets had been moving higher. They have been moving higher on the prospect of stimulus even though we havent gotten a package, even though congress may recess. We know we are going to get the stimulus package between 1 trillion and 3 trillion. We know thats coming. Markets know that. They already baked that in. Thats a positive. The prospect of a potential vaccine whether out of russia or coming somewhere else is out there and the market hopes that is going to come sooner rather than later. See theres no reason for stocks to back off. Yesterday seemed a little odd to me, the selloff in the late afternoon. We are seeing that made up this morning in the futures and i dont see any reason, any major hurdles in the markets way right now. Stuart did you buy the big tech dip . Not enough. Not enough. Bought some of the big tech stocks for sure but really, not enough. I had my moments as we rose up. I got actually greater conviction on the way up. I certainly didnt buy near the bottom. I was apprehensive about the rise and then when we cleared certain hurdles, we went in pretty well but not well enough, because the market continues to power higher. I didnt see retail coming in as much as it has, driving markets as high as they have. Great for Retail Investors. They have done exceptionally well. That didnt catch my attention until later in the rally. Now we know retail is still leading, retail is starting to lead the cyclicals higher. Theres a lot moreoro go a itinutinutliout invesestoesavee etai iestorsesrsndrsndndheirnd pick st so we argoarine arg ly o reh the ishingintopp. Pp veav aav fairl clean cleante s ah eafd o o us hsilake mew m hig, f. Ro mroney off. F. E haveavav trill tns of d drsr siing iinin minoney mon m m mt. A of of dry dryowderowde towdew eially if bonds el continue to trade lower and yields higher. That money will come more into the market because the bond holders who got into bonds late are now going to start to see losses. If rates continue higher. Stuart out this morning, Mortgage Applications numbers. Ashley, details, please. Ashley not staggering, up 2 this past week. But it is up 22 over the same period last year. So thats not bad, is it not. We have seen of course two straight weeks of record low Mortgage Rates thats helped to juice the market. Mortgage application, by the way, also volume rose 6. 8 over last week. What about the refinances with all these record lows . Yes, they jumped, the refis jumped 9 over the previous week and up 47 year over year. By the way, the refis make up about 65 of all mortgage activity and that is the highest level since april. People deciding to jump off the fence and say yeah, im going to refinance my mortgage and get a lower monthly payment. Stuart got it. Thanks, ash. Look at gold, please. Yesterday it had its biggest oneday drop in more than seven years. It had been something of a flight to safety during the pandemic but vaccine hopes rising, new coronavirus cases tapering off and gold is down again. I should tell you the Consumer Price index ticked up sharply this morning, suggesting a tick up in inflation, but gold, down again, three bucks. 1,943. One more time. American business gained, added more than 12 trillion in value just since the end of march 23rd. Thats extraordinary. Again, what does larry kudlow think about that . Im asking him because he is on the show in the 11 00 hour this morning. Larry kudlow coming up. We show it to you every day. Live look at sixth avenue, new york city. Deserted, almost. Its picking up just a little. National retail chains struggling more than ever and some are abandoning manhattan. Thats the story. We will tell you whos leaving. It is official. Kamala harris joins joe biden as his running mate but do you remember when biden said this early in the campaign. Roll it. Whomever i pick is capable of immediately being president because im an old guy, okay . No, but im serious. Stuart thats honest, i guess. Who are democrats really voting for this november . Is Kamala Harris really at the top of the ticket . Good question. Facebook cracking down on political content that they say is disguised as news. We have the ceo of parler on the show today. How many users has he picked up from people ditching facebook . 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Im proud to be part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. Call now so you can. Retire better Stuart Sumner redstone, who built via comecom cbs into a su has died. Under his leadership, his empire also included, listen to this, paramount, mtv, nickelodeon, comedy central, simon shuster. Our condolences to the family. He was 97. Straight to your money. Markets set to rally when we open up in about 15 minutes. Sea of green, lefthand side of the screen. Lets talk tiktok. A new report says they track user data, nothing unusual for these social media giants, but theyre accused of using a method that is banned by google. Susan, can you make me understand this . Susan think of the unique 12di12 digit code, which cant be reset or altered and allows apps to track Consumer Behavior. You can only change the id by getting a new phone. Apple locked down access to these ids in 2013. Google did it with android in 2015. But tiktok was tracking users through these ids up until november last year, according to the wall street journal and the way they concealed their tracks was through unusual layered code, according to this report. Tiktok says the november update ended this type of tracking. Still, if you think about it, it adds fuel to the white house argument that tiktok is tracking its users and sending that data back to beijing. Tiktok has until the middle of september to find a buyer or it will be banned in the u. S. According to that executive order. Microsoft is still the frontrunner. Just some news that just crossed on tiktok. This is interesting because given the fact we do have that executive order, the new york yankees and their broadcast partner yes network has just signed a deal for exclusive content and Strategic Partnership with tiktok. Thats because they want to access and bring americas favorite pasttime to fans globally since tiktok has around 800 million global users. Stuart that deal goes through even though tiktok could be banned and or sold . Susan yes. Thats what i found interesting. Stuart it is interesting. Thank you, susan. Staying on social media, look at facebook. The stock is up this morning. They are cracking down on political content that they say is disguised as local news. Gives them more freedom in advertising, i guess. Their pressure on political speech is pushing people off their platform. Some of them are going to places like parler which apparently does not have quite the same rules. John matz is with us, the ceo of parler. John, you are a private company so you dont have to answer this question, but tell me please how many users have you added this year . So im not entirely sure right now for this year but we are up to 3. 3 million total users. Most of them coming in this year. Stuart what do you offer that twitter or facebook do not . We are a solution to a lot of the problems that are going on with big tech right now. They seem to be taking a stance that they want more and more moderation, whereas we have a policy where we are saying we dont believe in moderation, we believe in a community jury, we believe in peoples right to decide on their own and have a conversation amongst themselves about what they feel is right and wrong, and what they feel is newsworthy and isnt. We dont feel we should be arbiters of that and we leave that up to the community to decide and give them the tools to do that. Its a true free speech platform, one that believes in privacy and keeping user data secure and safe and not sharing it. Stuart does parler censor political speech at all . No. Not at all. We actually, we allow people to create their own communities in a way by choosing who to follow and opting in to condition tete like. We dont push any content. It creates a really Nice Community where people are more engaged than on other platforms. We are seeing huge conversion numbers for articles, huge conversion numbers for peoples advertising political or otherwise, so its really a powerful platform. Stuart you making money . Actually, since the last time we have spoken, we are doing very well. We have sold out completely our ads for the last month and a half. All of our ad space. Stuart okay. Thanks for joining us this morning. Thanks for your honesty. You didnt have to tell me how many users youve got but you did and we appreciate that. John matze, good man. Thanks very much. See you soon. Thank you. Have a look at twitter. Up today 37 a share. They are now allowing users to control who replies to their tweets. They are giving users some control over the conversations on their page. You, twitter user, can choose from one of three groups to allow you to respond. Okay. You can choose everyone, only people you follow, or only people you mention in your tweet. Got that . I dont have twitter and now you know why. Lets get to airbnb. Now, theres a brand new industry which i would love to invest in and susan, i think im going to have my chance because i think they are going for an ipo, right . Susan well, still might not happen but they are expected to file for ipo this month and the shares could trade before the end of the year and it could be a traditional listing where the Company Sells shares to the public and raises money in the process, or they could go for a direct listing where no money is raised. Slack and spotify chose the direct listing route. One more option might be the new trend of spacs where airbnb merges with a Blank Check Company, nikola is an example of that. Morgan stanley, Goldman Sachs will lead this offering. Airbnb was ready to go public earlier this year but then coronavirus derailed the plans. Airbnb was worth around 31 billion at the start of this year but then had to raise emergency funding at the height of covid at nearly half that valuation of 18 billion. We will see what type of valuation they go public at. They also had to lay off around a quarter of their staff. Even if they file for a listing theres no guarantee that they will go ahead, because they pulled it again in march, remember, when they were set to file as well. Highflying unicorn ipos have done fairly well so far this year. That might be encouraging. Lemonade has tripled from its ipo price. So has nikola. Stuart i like the idea of being able to invest as an ordinary individual in what i think is a very promising and brand new industry. An ipo from airbnb susan even though travel has changed during covid and been decimated . Stuart i like the idea. I think airbnbs Business Model is intriguing, to say the least. I might like to be part of that at some point in the future. This gives me an opportunity. Its like uber. I wanted an opportunity to go into that kind of ride sharing business. Its brand new. I think its way of the future. I may or may not go into airbnb but i like the idea of being able to do it. Susan how has uber shareholders been rewarded . Not well since its ipo. Stuart that is true. But i didnt buy into uber yet, did i . As you well know. All right. Lets check futures, please. We are up across the board nearly 300 points higher for the dow. We will take you to wall street in just a moment. Times square. Lets have a look at that. Goodness me. How deserted can you get . That is the dead center of new york city. 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. 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