Microsoft, TikTok & Trump, Nasdaq Record High, Stimulus Stalls, Kashkari Suggests a 4-6 Week Shutdown, They Know Nothing

Published: Aug. 3, 2020, 2:12 p.m.

b'Carl Quintanilla, Jim Cramer and David Faber weigh in on Microsoft, TikTok and the President.\\xa0The tech giant confirming it will try to buy TikTok after CEO Satya Nadella spoke with President Trump.\\xa0Microsoft said they\\u2019re committed to addressing Trump\\u2019s concerns about the social media platform.\\xa0The \\u201cSquawk on the Street\\u201d team discusses the movers pushing the Nasdaq, as it hits a record high.\\xa0Plus, familiar fault lines as a stimulus plan stalls. The White House and Democrats agreeing on $1,200 dollar checks, but they\\u2019re still deadlocked on unemployment assistance.\\xa0\\xa0Minneapolis Federal Reserve Bank President Kashkari suggests a 4-6 week shutdown.\\xa0Telling CBS\\u2019 \\u201cFace the Nation,\\u201d "If we don\'t do that and we just have this raging virus spreading throughout the country with flare-ups and local lockdowns for the next year or two, which is entirely possible, we\'re going to see many, many more business bankruptcies\\u2026 That\'s going to be a much slower recovery for all of us."\\xa0Speaking of the Fed, its been 13 years since Cramer\\u2019s \\u201cThey know nothing!\\u201d rant heard round the world. Plus, a massive breakdown of the companies on the move from Clorox, Marathon Petroleum, Eli Lilly, Alphabet, ADT and more.'