Economist fears to put it all in perspective, chief Economic Advisor mohammed will be joining us. The worlds searching for a cure for the deadly coronavirus, one Company Thinks its device could help save lives, the chief medical officer and cofounder will tell us how it all works. In schools across the nation get set to reopen, one company is ready to make learning from home easier for teachers, parents and students, is sounds good, sullivan learning is here with the fox business exclusive, were less than hour to the closing bell, im abstention Ashley Webster in for liz claman, lets start the claman countdown. Ashley breaking news, right off the top of the show, mgm resorts is said to reopen the mirage casino resort on august 27, and headed crucially of the long Labor Day Holiday weekend, the 3000 room resort along with many other casinos in sin city has been shut since march due to the coronavirus, a sign of progress, right there. Mgm reopening the mirage august 27, as for the markets, apple hanging around the bottom after a fight broke out on the countdown yesterday, i hope you did not miss it but the creator of popular videogame fortnite has epic games suing apple and apple but for being kicked up every respective app stores over the way it collects payments, draft kings down after then a loss despite beating revenue estimates and an upbeat forecast, that is draft kings, as you can see down more than 6 , the fallout felt across the sector, National Gaming which is soon to be the Golden Nugget online gaming, those two stocks down 2 . It is topping the s p 500 and nasdaq after a double beat on earnings and bullish guidance, that will get you every time, that stock up three and half percent. Lets move on, as the vaccine optimism ramps up, two different market pointer up there when it comes to the s p 500, Goldman Sachs thinks it can rally to 3600 factoring in economic prospects but in japan they say the vaccine news is priced in already in the gap between the leading and lagging sectors is too wide. The question is, who is right, the time to bring in wall street most closely followed economist chief Economic Advisor, mohammed, great to see you, lets begin right there, who is right, is a golden or the european or over in asia, who is right . Is a really difficult question and understand why it is because you are trying to get three things correct, the health outlook, the Economic Outlook and people behavior during this period of living with covid. I think in the short term we can expect the market momentum to continue but for the longterm we need these things to resolve in our favor. Ashley a lot as made of the huge gap, the 4 trilliondollar gap between the leading on the s p in the five in the big techs and those that are lagging, is that a warning sign or the new normal . It is understandable, what is so special about these names that have consistently outperformed, one the world is coming to them by going virtual the world is going to their business, second they have massive cash on their Balance Sheet, they are acting from a position of strength and third, they generate positive cash flow, these companies have become everything to everybody, you want to go on the upside thats a way to go, if you want Downside Protection and a strong Balance Sheet thats where you can go, i think the gap is understandable, i think it depends ultimately on whether we get back to normality quickly. If we do then i will save them, but i dont see a reason to save them at this point. Ashley were talking about stimulus with congress, your big proponent on helping the economy along, what kind of damages is doing as businesses were desperate and continuing to have to wait . I fear we will see the damage in the august numbers that will be available in the next few weeks, the july numbers give us a strong message, this is a resilient economy, that is the good news and i saw that with retail sales, we saw this all week in terms of a resilient economy, we dont want to press that too hard, we dont want shortterm problems to become longterm problems in this economy needs not just relief but Needs Congress to think about the longer term. Ashley you know what we discussed the graphic on the screen, retail sales were up more than expected when you take out the autos jobless claims down to 936,000 with still a very high number, under 1 billion which is very encouraging in the first time thats happened on anyone weeks, we see industrial productivity taking up, is a surprising or is the momentum starting to slowly come back. Momentum was coming back and coming back in a very good way, i think if you look at the leading indicators on the data its a little bit lagging unfortunately and in the past those windup critical, when the Health Situation changes in various states, these become important. If you look at the Weekly Economic indicator that the new york publishers, if you look at the highfrequency daily numbe numbers, they suggest that certain states are not just leveling off but slowing and thats what we have to be careful about, we cannot lose momentum at this point, we gotta maintain positive momentum in the economy. Ashley while we are here, i have to ask you about gold, immediate order rise, that is pretty interesting but is not troubling to you . The troubling part it is collected people that are hedging against all sorts of things, the reason why that is happening is because people are looking at treasuries and say not only do i not get paid very much but my price is asymmetrical at this point, so gold has attracted most people trying to protect against economic armageddon, its also attracted people trying to protect against inflation and also attracted people trying to protect against reflation and it has also attracted people trying to protect against the basement. When you have so many people compacprotecting against competg things and told you the system is distorted, this is another consequence of the massive Federal Reserve involvement in the pricing of market security, weve seen all over. Ashley you talk about normality with that factored in, who knows when well get back to normal, thank you so much for joining us today, a lot of people want to know what you have to say, we appreciate you saying it right here on this network, thank you very much. My pleasure in thank you. Ashley lets check the big board why dont we, we have less than an hour just over 52 minutes before the close, the dow is flat down just five points. Lets move on, nova vax is on a deal with the united kingdom, the uk said to purchase 340 million doses of the bill gates vaccine maker potential coronavirus preventative, those shares up 8 . A vaccine too late for the nearly 21 Million People diagnosed with covid worldwide but coming up we have a look at a migraine treatment that is shaking up the race for a cure to the deadly disease, how it works and what the trials are telling us, that is next on the claman countdown. Oy pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Robinwithout the commission fees. So, you can start investing today wherever you are even hanging with your dog. So, what are you waiting for . Download now and get your first stock on us. Robinhood. Ashley agreement new prediction from the cdc where they coul u. Could reach 200,000 deaths by the coronavirus by labor day, that is 32000 more than the latest tracking shows but Anthony Fauci morning that of all people after Matthew Mcconaughey the aiming to fight the virus through herd immunity would lead to a enormous death toll. But when more than 500 Clinical Trials underway around the globe to treat covid19, what is there was a treatment you could do a home with the device the size of your phone, joining me now is a cofounder and chief medical officer doctor peter, thank you for joining us, i believe you have the device with you and in doing my research, you placed this device on either side of your neck and its supposed to stimulate the vagus nerve which im not sure what that does and you would use this to treat migraines, correct but then you realize it could be treated for other elements associated with covid, i will let you explain. I appreciate the opportunity to be here and talk to your viewers about this. The device is a noninvasive name under vagus nerve stimulator, we place it on either side of the neck for two minutes to help with initially migraines, cluster headaches both in the acute and prevention but also we have shown that we can decrease airwave reactivity with this device, it is been authorized via the emergency use pathway of the fda into treatment that a patient can use at home or in a healthcare setting to help them with their breathing problems associated with covid, it is one of very few therapies that have been authorized by the va for the treatment of covid, it is an exciting time and im thrilled there are new Therapeutic Options for patients with covid. Ashley is it is fascinating is someone is struggling to breathe and they dont think theyre doing well with the medication, this is a viable alternative. That is correct. I personally there are other things that have been looked at and evaluated but the fda who gets hundreds of applications for this have evaluated very a number of these therapies but of authorized very few therapies in the treatment for this. This is something that does not require nebulizers or aerosol is asian of drugs that could potentially spread the virus but actually has a very profound effect on the lungs and opening of the lungs and allowing people to breathe. The fact that the fda has looked at the safety profile of this, the efficacy of what we demonstrated today and found that there is nothing else like it is why the fda has authorized this via the emergency use pathway. Ashley it is fascinating, did you know this that you essentially have had this device of people who have suffered with bad headaches, did you by accident discover there is help covid of the airways. Is a great question, when we got started on this, one of my partners in crimes and starting this company, we were looking at trying to block airways, via activity, my son had peanut allergies and i was looking for a solution to that originally, we did a bunch of studies together with animals and later on in humans, demonstrating this improved airway reactivity and breathing, what we found along the way is a helpful headaches. , a variety of commercial, and concentrate on that aspect, but i never forgot the dna of the company which was on improving airway reactivity in response to inflammation. Ashley that is fascinating, i had it the wrong way around, you started with breathing easier, you mentioned the fda has approved this for emergency use, when do you hope that this can be for a permanent endorsement for the fda. We begin a certain amount of data to the fda in a very late early time. , its important to note, this virus came out of nowhere to a lot of us in january of this year and the fda looked at what we had at that time when we submitted this back in early april and granted us in emergency use for the duration of the pandemic. We are collecting more data as we go, we have a randomized trial ongoing and you mentioned 500, several of those are ours and were looking to demonstrate more definitively in longterm randomized controlled trials with profound efficacy, it will probably mean more data down the road for a permanent application of this. Hopefully covid goes away and we will not need it but in the meantime while we have more than 5. 3 million or fivepoint to million americans who have been diagnosed with this and we just discussed the number of deaths, we need to therapy today that has been authorized by the fda to help our doctors in our patients get through this. Ashley before i let you go, you released your earnings yesterday and on the share basis, younger earnings on the outside, you missed on revenue but what other treatments are you working on . I think its Public Information that we have a variety of headache indications as you already know, in march we got the approval for migraine prevention and that puts us in a very unique position as being the only medical device thats been approved for acute and prevention for cluster in migraines but we have studies going on in terms of iits and a variety of very interesting indications that are going to be very exciting to your group. I dont want to talk about too much of the other things that are going on right now but we have some studies that are going to rock your socks pretty soon. Ashley that sounds great, on a friday, rock my socks. Congratulations on this device and if it can help anyone which it already is, that is very good news, doctor peter, thank you so much, thank you, doctor for joining us, before we head to the break lets take a look at the big pull, lets move sideways for most of the day, check that out, the dow down 18point on the dow, 2000 plus students, teachers and School Staffing testing positive for covid19 across the united states, this heading back to school, it is a problem. Coming up house to live in learning is helping students and educators right in the thick of the pandemic uncertainty. Plus the two wall street big weeks joining the ride as the ev maker looks at joining the markets most elite the claman countdown coming right back. Instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Stocks by the slice from fidelity. Find your getupandgo. Find pants that arent sweats. Find your friends. Find your sense of wander. 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Retire better ashley breaking news, big tech turning on th big tech jumping o forte, bu reports facebook is coming up against apple that the fees are hurting businesses during the covid19 pender Mick Facebook saint apple dismissed the companys request to reduce the 30 App Store Tax or allow it to offer facebook. So it can absorb the cost for business, facebook by the way announcing the paid online event that will provide businesses, creators, media publishers, the ability to earn money from Online Events from facebook and facebook will not collect any fees for the paid events for at least the next year, that is the fight that rumbles on. Two tesla bears coming out of hibernation you could say, bank of america and Morgan Stanley shifting their position on elon musk empire from the equivalent of a cell to neutral, the big moves coming as electric vehicle maker awaits his potential entry into the s p 500, bofa siding the growth ability and access to cheap capital, Morgan Stanley predicting the giant could be a valuable thirdparty battery supplier to the Automaker Tesla shares up a ridiculous 650 from just one year ago, as you can see even with elon musk doing, the stock up 1636. Lets go to Edward Lawrence for todays fox business brief, edward. Autozone going on a hiring spree, the auto retailer or parts retail hiring 20000 employees to address the increasing demand at local Retail Locations the distribution centers, luxury ev retailer farfetched reporting a smaller than expected loss in the quarterly fiscal result the Online Fashion retailer with estimates, and due to the coronavirus pandemic it could add a Material Impact on future results, quicken loans, the parent reported a 40 quarter over quarter jump in loan origination, the volume more than 42 billion, it may have saved you in the market last week reporting 437 surge from the same period as last year, up next the ceo of Sylvan Learning is talking about the Online Education of the Job Opportunities it is creating, the claman countdown coming right back. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To ne