Carl Quintanilla, Jim Cramer and David Faber discuss the melt-up for stocks. The S&P 500 and the Nasdaq hitting record intraday highs. Shares of Salesforce.com surging after reporting earnings that more than doubled estimates. The company’s revenue also beating the street, and it raised its full year forecast as it benefits big from the increase in remote work and e-commerce. On the COVID-19 front, the C.D.C quietly modified its coronavirus testing guidelines to exclude people who do not have symptoms, even if they have been recently exposed to the virus. Palantir files to go public, while the company’s CEO rips into Silicon Valley in a letter to investors. The CEO saying Silicon Valley engineers may be able to build good software but they don’t know “how society should be organized or what justice requires.” Wedbush raising its price target on Apple to a new Street-high of $600 dollars per share. Plus, the CEO of Etsy, Josh Silverman, speaking out against Amazon’s support for a California bill seeking to hold “electronic retail marketplaces” to the same liability standards applied to brick-and-mortar retailers. Silverman calling the e-commerce giant out saying, “Amazon is taking bold steps to wipe out its competitors by promoting complex, hard-to-comply-with legislation that only they can afford to absorb.

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26 Aug 2020