Remodeling bigtime during the lockdown. Profits went straight up, sales straight up. Those tools, wallboard and paint, just ran off the shelves. These two companies are economic indicators. They are doing well. The economy apparently recovering nicely. As for the overall market, well, the dow, thats close to the 28,000 level this morning, up about 40 points at the opening bell. The s p, thats just a couple of points away from an alltime high. The nasdaq, already there. By the way, apple is only, what, 10 shy of a 2 trillion valuation. All right. Lets get to it. The Virtual Convention. If it wasnt clear before, it should be clear now. This is Bernie SandersDemocrat Party. He laid out a far left platform and its been adopted by joe biden and kamala harris. Socialists wrote the party platform. Im calling it the Biden Harris Sanders ticket. Its the most progressive t campaign of any Political Party in recent history. Tonight, alexandria ocasiocortez will be a featured speaker. We heard from the president. Hes telling voters to watch out, your 401 k is in danger and we are expected to hear more from him momentarily as he leaves on a Campaign Swing to arizona and iowa. Great to be back. Varney company is about to begin. Our campaign ended several months ago but our Movement Continues and is getting stronger every day. Many of the ideas we fought for that just a few years ago were considered radical are now mainstream. If you think things cannot possibly get worse, trust me, they can. We have got to vote for joe biden like our lives depend on it. Look, you get the wrong person in here, your 401 k s, wave goodbye to them. Theyll be worthless. Theyll be worthless, right . Stuart there you have it. Night one of the Virtual Convention with a little bit of the president thrown in there. It went technically, it went well, although it was nothing like normal. Surprising how the lack of crowd reaction makes such a difference. Fox news Chris Wallace said it was like watching a telethon. I think he was right. You know, we will have more on this throughout the show, guaranteed. Meanwhile, the president hitting the campaign trail yesterday, stopping in minnesota and wisconsin. Later today, he will hold a rally in phoenix, arizona. Now, happening at this moment, President Trump and first lady melania, they are signing a proclamation on the 100th anniversary of the ratification of the 19th amendment which guarantees women the right to vote. Happening right now. At the white house. Lets get to your money. Start the dashday, start it rig. Walmart and home depot reporting what i would call blowout numbers for the last quarter. Kohls saying they are optimistic for the rest of this calendar year. Look whos here. The man himself, the retail guy, that would be gerald storch. Gerald, im saying that walmart and home depot, they are economic indicators. They are doing very well and they are indicating a strong economic recovery. What say you . I think youre right. These were absolutely fantastic numbers. Home depot in particular, it doesnt get any better than the numbers they posted. Sales were up 25 , same store sales. Who has ever heard of that . Both transactions and ticket were up double digits, fantastic results and theres every sign its going to continue. The stock is up 32 year to date. Its up a little again today. Fantastic performance. Consumers are fixing up their homes. Walmarts numbers very very strong. In any other environment, their stock would be zooming today. Its not zooming right now for two reasons. First, its risen 15 or so this year already so its up a little bit in the year. Secondly, there was a lot of noise in the Earnings Release about the impact of the stimulus, that helped drive the results during the quarter and that things slowed down near the end of the quarter and they wouldnt give guidance about what they were expecting. Its really based on the stimulus. They have a lower income consumer who is very much dependent on whether or not they get that money. Putting that aside, numbers were fantastic. Strong growth particularly in transaction size, groceries. Kohls, i have to tell you, they are a pandemic loser. Their results werent so good. They did better than expected but the stock is down pretty sharply, over 50 . Its down pretty steeply today. Thats because they really dont have an answer, no matter what they say, for the pandemic. Its not because the consumers not strong, to your point. Its because kohls is a department store, focused on selling apparel with an uneconomic ecommerce arm so its very very difficult for them to make this work. Stuart back to home depot and walmart. I know they are in different industries. Its home renovation versus all around selling just about anything, but what are those two companies doing right . Is it just being in the pandemic and wellplaced or Good Management and good strategy . Well, they both have fantastic management. But walmart has always been the leader on things that you need, groceries, consumables. They have tremendous value which consumers obviously want. They have gone to walmart to buy groceries and while there, they are buying everything else. All that general merchandise they talked about during this Earnings Report showed a boost. Last quarter was just groceries. Now it was everything. They provide great value, they fixed their internet so they are competitive with amazon. Particularly with store pickup, they are driving that business. Home depot is just fantastic. They have been the leader in this space. They have invested in technology. They have strong ecommerce. They have great value. Of course, if you are going to fix your home up or even going to garden or do anything outdoors, this is where you are going to go. They are in the right place at the right time. Great internet, great management team. I dont see anything stopping home depot or lowes, for that matter. That segment is really hot right now. Stt stuart we love to see winners. Thanks for bringing the two prime winners of the day. Thank you. See you again real soon. We spend a lot of time on this program about the working from home movement. But look at amazon. They are going against that trend. What are they doing, susan . Susan thats right. Welcome back, stu. Hiring 3500 in six major cities, including new york city, phoenix, san diego, denver, detroit and dallas. These are corporate jobs, 2,000 of them will be in new york city. Thats to work in amazons new offices in historic lord taylor building. Amazon buying the fifth Avenue Department store for around a billion dollars from wework according to the wall street journal and working from the office. That goes against the work from home trend that other tech giants have been employing. Twitter and square say you can work from home forever if you can. Facebook extending work from home until at least next summer. And over the next decade they say they will shut more of these jobs to remote but amazon is going in the opposite direction. Suggesting that companies and employees will still want to go back to the office after covid. New york city and other big cities may not be dead after all. You read those headlines, right . Stuart yes, i have. We have been featuring that for weeks on end here. Amazon is going against that grain. Very interesting stuff. Susan, thank you. Economic data out this morning. Big read on Home Building and Home Construction. Home buyer stocks all doing well because they are very good numbers. Almost one and a half million new Building Permits issued in july, a 19 jump. New Home Construction hits almost 1. 5 Million Units in july. Thats up, what, 22. 5 . Huge numbers. Big gains. Staying on construction, i want you to take a look at the price of lumber. Look, im a tree farmer. I know for a fact that the value of lumber, timber, has been going up for four, five, six weeks. Lauren, are you going to tell us that that hurts or raises the price of new Home Construction . Lauren absolutely, and it already has, stuart. As Home Builders say they are more confident than ever, they do have this warning. The only head wind were concerned about right now is lumber prices. They are rising exponentially. They are adding up to five figures to the cost of an average house and thats something we hope that the administration will take a look at. Lauren let me get you the exact numbers. Homes are costing 14,116 more since midapril because of this skyrocketing price of lumber. Its pushing the cost for the builder up 70 . Jerry howard asking the white house look, roll back the 20 tariff on canadian lumber imports to the u. S. That will help us keep homes more affordable. Stuart yes, it would, but the price of my lumber from my tree farm is doing very well, thank you very much indeed. Thank you. I had to get it in. Tesla, look at that. 1900 a share as of this morning. Up, what, 3. 7 today. They were up 11 since this week, i believe. By the way, elon musks spacex planning a launch next hour. Tell me more about that, ash. Ashley they are indeed. Not far from where im sitting, if i put my head out the window i might be able to see it. 10 30 a. M. Eastern time from Cape Canaveral. The falcon rocket booster will be taking off hopefully, weather permitting, of course, as always. It will carry a payload of 58 satellites that are actually part of elon musks Broadband Network and also again, they will try to recover the main booster that falls back into the ocean. Theres a drone ship out there and the name of the drone ship is, of course, i still love you. Thats the name of the drone ship. We will keep an eye on that. 10 30 a. M. This morning. Stuart by the way, ashley, thank you very much for all the hard work you and susan and lauren did while i was away. I do appreciate it. I was lollygagging on vacation. By the way, elon musk is now the fourth richest person in the world because of the gain in teslas stock. Apple, on your screens right now. 457 a share. They are launching two new live radio stations, apple music 1 and apple music hits. They are available now in 165 countries. Not helped the stock which, by the way, is 10 shy of a 2 trillion valuation. I will say that again. Look at futures. We are flat to higher this morning across the board, up 30 points maybe for the dow industrials. New york gyms, yes, they can soon reopen but some strict new rules. Will people come back . Do you want to work out in a face mask . Thats a good question. We are on it with ceo of retro fitness. We have seen chaos unfold in some big cities. Mike murphy, market watcher, he says that could hurt the market. Interesting. He will make his case in a moment. We are just hours away from day two of the Democrat National conventi convention. Some big names, on your screens now, including former president bill clinton, will appear tonight. Is that a good move to put bill clinton up front in the age of me too . Were on it. Hi, this is margaret your Dell Technologies advisor to listen, is to hear more than whats being said. And offer the answers that make someone feel truly heard. I understand, lets get started call a Dell Technologies advisor today. Look, this isnt my first rodeo and let me tell you something, i wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. 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Disney will offer some customers a free year of disney plus, hulu and espn. Okay. Disney is down, 129, disney. Boeing offering a second round of voluntary layoff packages. They originally planned to cut 10 of the work force. But the slowdown in travel has caused boeing to go beyond that. The stock, though, down just 27 cents. 171, boeing. Airline stocks, ooh, lauren, whats this about virus cases on the rise hurting travel demand . Tell me more. Lauren yeah. Thats dinging the good news that 773,000 people passed through security checkpoints yesterday so for the past five days, we are seeing that number hold above 700,000, 800,000 on sunday. But yeah, its these rising covid infections, more quarantine measures by some countries. They grounded the Airline Stocks in a big way yesterday. American was down 5 yesterday. But look, they are all down once again this morning in the premarket. Stuart if the number of cases rise and quarantines rise, then down goes airline travel. If you stick at 770,000 passengers a day, that doesnt make it. Thank you, lauren. Now, Democrat National convention, day one had a number of democrat allstars giving speeches, including Bernie Sanders. Watch this. Let me take this opportunity to say a word to the millions of people who supported my campa n campaign. But our Movement Continues and is getting stronger every day. Many of the ideas we fought for that just a few years ago were considered radical are now mainstream. Stuart thats true. Thats exactly whats happened. A member of Bernie Sanders 2016 campaign is with us. Welcome back. Good to see you again. Good to see you. Thanks for having me. Stuart my opinion is straightforward. Bernie sanders is running the democrat platform. What say you . My opinion is straightforward foo. I always try to give it to you straight shot with no chaser. I would say that progressives disagree and feel like Bernie Sanders is not really running the Democrat Party. Thats why you did not hear a lot on policy. You heard three things yesterday. One was the 15 raising that minimum wage. Two, the second thing was taking medicare from 65 to 60 which people think is a joke. Then three, ending privatized prisons which i certainly support but its still not strong enough. The thing is, i dont really even consider myself a progressive and im certainly not a socialist but most of the progressives within this party feel that Bernie Sanders did not ask for enough concessions. His speech last night was pretty much saying the important thing is voting donald trump out of office and have a revolution later. I will say there are progressives up and down the ballot, our down ballot progressives that are moving this party further to the left but joe biden has not really changed his positions much. Stuart well, far be it from me to argue with you, but i think youre wrong. Look, hold on a second. If you look at the Biden Harris Campaign platform, its raise taxes pretty much across the board, its Green New Deal, pretty much across the board, its antibusiness pretty much across the board. I would call that joe biden moving to the left so he can catch the progressive support. Thats where im coming from. Well, the Democrat Party has always to me failed in the area of Small Business. Im a Small Business owner myself. You rarely hear that in the major speeches they do. I think thats always been a criticism of the Democrat Party and certainly joe biden has moved further left than what he quote unquote, used to be when he was a moderate. So i agree with that. I agree that senator harris provides a balance but still, your True Progressives are those who are very serious about medicare for all, still disagree. Thats why representative tlaib said she will not be voting for the democrat platform and still voted for to nominate Bernie Sanders even though Bernie Sanders isnt voting for Bernie Sanders. Th