Screen completely different from yesterday and will call it a modest rebound but it was the big tech stocks that fueled the selloff in today though stocks also seen a modest rebound, certainly not recovering the losses theyve seen over the last three days but nevertheless they are back in the green. Take a look at tesla, that stock has lost around one third of its value in just one week. But look at it go today up nearly 7 and by the way well talk to the former Vice President of tesla coming up in this hour. Also tesla rival nikola solid spike after announcing the partnership with gm and come up will talk to the company ceo about the electric Vehicle Market in the fierce and growing competition. Meanwhile talking about competition in the race for the white house joe biden traveling to battleground states michigan to tout his new made in america plan, this ahead of the president s visit tomorrow and this morning by the way President Trump nominated for a Nobel Peace Prize by a member of the Norwegian Parliament crediting is really you aep steel. Meanwhile Senate Republicans introducing a 300 billion stimulus plan, a vote expected sometime this week but some say that plan already doomed. Anyway nothing doomed about the show, get ready for jampacked show, Varney Company starts right now. Ashley nowhere else to start but with the nasdaq smack in the middle of the quickest drop into correction territory and history, three days i believe it was, lets bring in market watcher cher gilani, has the tech bubble finally burst or is this just much needed consolidation, what do you say. Good morning, i think the jury is out on whether or not the tech has bubbled or not. We know the valuations i have gotten scratched and i think it was time to let out of the bubble. I think what is going to happen is going to be a test of retail, if Retail Investors come back in and start to buy the dip then we have a chance to go higher, they dont they sit on the sidelines and lick their loons and liked more wounds if we continue to go down and i think this rally could be over. Ashley very quickly are you gonna nibble any of the big tech stocks even though theyre up there only up modestly compared to the last three days. Not yet im looking for lower levels in terms of all of the majors, the benchmarks in the stock that led the market higher, if those levels get tested i might do been a little low but not today. Ashley all right holding back a little bit. Thank you and stay right there. Im going to take a look at tesla, lost around a third of its value in just about a week but wait a second up nicely more than 7 , common susan lee what is going on with the stock. Susan bear market in a weeks time, we thought yesterday was the worst day in the stock history going back to 2010 ipo down around over 20 of the bottom and down more than 80 billion in tesla market cap, think of gm and ford combine in one single day, recovery this morning but more the positioning wall Street Investors the actual fundamental. That means tesla is still selling the same number of cars but investors loaded up on tesla shares bedding it was a sure thing and would be included in the s p 500. It was a surprise to wall street when tesla was snubbed on friday night for much smaller players like sc instead, investors may gotten ahead of themselves, that may be an understatement but tesla up 300 this year still worth more than 300 billion and were trading above five split levels that we started last monday and saturday in two weeks time on september 22, pretty important because of elon musk can pull off a Million Dollar battery or announced a big advance in tesla longerrange Battery Technology that might be another callus for the stock Going Forward. Ashley it could indeed, quick programming note, coming up later in our will talk to peter rowlandson, former vp of tesla and also we will be talking to the chief executive of nikola and ev allstar piano for sure, dont miss that coming up later in the hour. Coming up back on apple, special event the plaintiff or next week but not including one very important item. This would account for more than half of their sales september 15, mark that on your calendar, not the iphone launch but social media went wild when it had a day with apple advance and people got really excited they get that might be the launch of the new 5g iphone, we will have to wait a little bit longer till next month for the 5g handsets but apple is expected to announce a new apple watch with more Health Features including better sleep tracking, and ipad air that looks like an ipad pro from edge to edge and other products individual launch event and blooper has reported that is preparing to launch a Services Bundle called apple one, music, tv, cloud offer one price a month for the entire family and for apple shares themselves, apple has lost over 300 billion in value the past three days. They go shedding tesla or nvidia and just three sessions but apple still worth 3 trillion and you still make 50 in a pandemic and still the most influential single stock and s p 500 in 40 years predict go back to 1980 and when apple goes up or down to hit the Broader Market along with it. For the iphone itself were switching 5g iphones next month before new 5g iphones with three sizes. Ashley that is when people are waiting for. Thank you very much. Lets bring back and shot gilani, lets just talk about what susan is talking about, what about apple closing around 112 today and premarket up 116 you say you will that these stocks play out a little bit but are you getting more tempted with apple . I do like apple and am looking for stock to get back into apple but im just not sure, that the selling is done. It is rather were engine abrupt and the buildup of august and volatility measured in telling us that somethings going on underneath the surface and we now know it was a big call buyer out there and i think its for the market. Now going into the election for the rest of the fall were going to have to take a look at the hard logistics of what we done. I love apple but i dont believe were done with the selling yet. I like apple, its been lowered, teslas farzad goes, thats a bubble ready to burst in the bloom is there for good. Ashley i was gonna follow up with tesla but i think you just answered that. I know you spoke with stu in the past and you believe its a bubble and you believe its burst but its a difficult stock to get a handle on but anyway we will continue to follow because its fascinating. Thank you very much for your input this morning. Moving on to the latest on the vaccine front. Astrazeneca right at the top your screen as you can see down 2 this morning to get a bit of a hit after the Company Announced a routine pause in their trial because adverse reaction and one of the participants in the late stage trial. Fisa ceo says their best Case Scenario for approval would come at the end of october, a good time to bring back doctor marc siegel our medical contributor. Doctor, hello can you hear me . I heard him say are you kidding me, we are kidding you. Were going to bring you in right now. We will come back to him when he is back online. We will just leave it right there, isnt this great my television doesnt make it so exciting. Well get back to the Housing Market and will bring docs to go back and when he gets back. Christina joins us right now, you got the latest read on Mortgage Applications is that right . We just lost christina as well. I would got doc back these are the moments that you treasure and Television News because you can sit here and realize that everything is not working as it should because sometimes happens in life. Doctor marc siegel can you hear me . Yes i hear you. Ashley [laughter] a magical yes. Lets get the latest on the vaccine and applause announced by astrazeneca but we have no idea why, it could be reaction to the vaccine or reaction to the placebo or something completely else, this is a routine pause and we should not read too much into it. Is that correct . Yes, obviously astrazeneca took a big hit this morning and the other vaccines in the works are seen increases in their companies and ill talk about that in a minute. This is in reality, when you study 30000 in phase three trials, you will see somebody along the line have a problem, they dont even know if the problem is linked to the vaccine yet. Theyre studying a lot of people over the age of 70, a lot of complications, what this does job a lot of politics is been involved lately. This shows how carefully we study vaccines. They put the vaccine trial on pause while they study the person to see if the side effect is related to the vaccine or n not, it may have nothing to do with it, may be a coincidence and then they would resume. This is how carefully the science is done. Ashley we know there are other companies of course working on this, women during a calm pfizer, biontech, is unlikely in your opinion that we will see a vaccine before the election . I think the ceo of pfizer said it best yesterday, he said Pfizer Biontech vaccine, there is about a 60 chance that they will have their data ready in october and they have 24000 people in the trial, thats a lot they need 30000, he think theres a 60 chance the data will emerge in october, then if the data emerges and it looks really good it is still a stretch that it would then be ready to send out to market by november 3. I would say its pretty unlikely that you will see anything by election day but its quite possible even probable that you will start seeing something in the weeks leading up. Ashley not that far off. Thank you so much for joining us, so glad we could get to finally connected. We appreciate it. Lets take a quick look at the features before we head to the break, we can tell you the features are moving slightly higher again not really be covering everything that weve lost in the last three sessions but at least her heading in the right direction and seen some gains today. A new poll reveals President Trump and joe biden are in the dead heat in the battleground state of florida, we will discuss the battle for the crucial swing states and meantime former San Francisco 49ers quarterback Colin Kaepernick meal for the National Anthem and even wore socks and is making his way back onto the football field. But it is not with the nfl. We will explain. Now past labor day all eyes are turning to Holiday Shopping. My next guest is 2020 will be like none other. Keep it right here on Varney Company. Hey, can i. Hold on one second. Sure. Okay. Okay safe drivers save 40 guys guys check it out. Safe drivers save 40 safe drivers save 40 safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him hes here. Hes right here. Hi hi. Hey thats totally him. Its him thats totally the guy. Safe drivers do save 40 . Click or call for a quote today. Im a delivery Operations Manager in san diego, california. Weve had a ton of obstacles in finding ways to be more sustainable for a big company. We were one of the first stations to pilot a fleet of zero emissions electric vehicles. The amazon vans have a decal that says, shipment zero. Were striving to deliver a package with zero emissions in to the air. I feel really proud of the impact that has on the environment. But were always striving to be better. I love being outdoors, running in nature. We have two daughters. I want to do everything i can to protect the environment to make sure they see the same beauty ive seen in nature. My goal is to lead projects that affect the world. I know that to be great requires hard work. My so youre a smallrojects thatbor a big one. Rld. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Ashley the details of Senate Majority leader Mitch Mcconnell viral release package has been revealed 300 billion no new stimulus checks. The democrats are up in arms after no new funding for state and local governments. Perhaps the stalemate goes on. Blake burman is with us, when can we expect the boat on this plan . The procedural process is underway in the senate will pick it up in the upcoming days but you are right no state and local funding, no direct check in part why this is absolutely no work if it gets passed by the senate or get kicked over to the house as well, let me dig through the details for you as to what Mitch Mcconnell put forth, 300 billion, an extension of Unemployment Insurance benefits to the end of the year and the federal plus up 300, would also call for an extension of the ppp loan program for the hardest hit businesses and loans of up to 2,000,000. 105 billion going towards schools and 10 billion for the u. S. Postal service, there is a lot of reasons why this is probably going to go nowhere. We just went over theo. Keep in mind democrats brought their number down from three and half trillion to a trillion less than that, the white house has been signaling they would be supportive of a 1. 3 trillion plan, what the senate just did was take and eraser to the one input. 3 trillion, their miles apart from democrats and theres even a big gap as to what the white house said. Ashley a huge abyss between those two amounts. Thank you very much, now were gonna change to something different. Labor day is in the books as we know, retailers have turned their sights on the holidays, not that far away and were only in early september, lets bring up top retail guy, joe, great to see you. We know the virus has affected the way that we shop but now how is it going to be different this year, a lot more online and a lot less in the stores i presu presume. You are right about that, theres a lot of factors, stimulus questions, whats going to happen there, the virus has equity plan, the election in normal you will send retailers into pandemonium and the possibility and right before christmas, a lot is going on. Im going to tell you whats going to happen, first of all is going to be a strong christmas, the consumer has a lot of momentum and thats going to carry in the fall. Second as you say it will be heavily online and third it will be early, amazon is starting in october with prime day and every other retailer cannot win amazon so the gonna start at the same time and that will be a kicked off the Holiday Season and theres no way black friday will be like it used to be, it will be masked friday people are not going to waiting crowds. Fourth itll be heavy hardline electronics christmas. No one is buying apparel, jewelry, the normal christmas gift, it doesnt make any sense in this environment. While there may be a vaccine announced a euphoria Christmas Present tree, you still would have a shot in the arm, you will be happy and spend money and be thankful and you will be inside. Ashley guess what gerald, were short and start to the point as always, electronics and home goods and winners and as for apparel, forget it. Thank you very much, we really appreciate your time. Heres a retail pandemic winner for you, shopify, christina, hopefully she can hear us and see us. That stock has tripled since the march lows, what are they doing right. Everybody needs an ecommerce platform, were all buying things online and Small Businesses across the country that are using shopify, their sales in a more specifically ecommerce sales surge 37 to 200 billion in the past quarter, shopify makes it simple and helps you build your ecommerce platform, ive been reporting the company for a long time because the canadian and been around for 15 years and like you mentioned the stock is searched just over the past year especially within the past few months, they are to have 1 million merchants that use the website and even Kylie Cosmetics use shopify to build her ecommerce platform and if youre wondering about the future of shopify in other you should get in, there is a recent census of the United States and it shows in august 36 of Small Business owner respondents still do not have an Online Platform to sell their good. But theres still a potential market, the market cap 110. 3 billion as well beyond best buy as well as ebay which is about 36 billion. Shopify benefiting from the pandemic. Ashley christina the canadian connection coming through again. Thank you very much. Were gonna take a break now and have the opening bell, the futures currently the height of the session, well be right back. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Ashley welcome back lets take a look at the features one more time, session premarket high, the dow up 244 points, the s p up for the 1 and the nasdaq up 2 , these are modest rebounds considering the selloff in the last three days. Lets bring in market watcher greg smith evolution bc partner. Greg you said last month was a dip market and now you say its a raleigh market, did i get that right and explain. Good morning, i joined stuart two weeks ago with my unpopular views of profittaking, we saw a strong rally in august and it felt like a complete by the dip type of environment and a question did the music died last thursday. In th