Searching Mar-a-Lago, Signing Off on CHIPS, & Take a Chance on Meme? 8/9/22

The FBI searched Mar-a-Lago, former President Donald Trump’s resort home in Palm Beach, Florida, escalating federal law enforcement scrutiny on Trump and sparking drama on both sides of the political aisle. CNBC’s Eamon Javers breaks down the unprecedented action by the FBI in search of classified National Archives-related materials. President Biden signed the bipartisan CHIPS act into law today, marking a huge win for the semiconductor industry and directing tens of billions of dollars towards manufacturing and $200B to research. National Economic Council director Brian Deese equates the legislation to the “decade-long investment to put a man on the moon.” Plus, retail investors are reentering the market as it shows signs of rallying. Could there be another meme stock surge or will investors get left holding the bag again? SoFi’s Liz Young and WSJ’s Gunjan Banerji deliberate. In this episode: Brian Sullivan, @SullyCNBC Kayla Tausche, @kaylatausche Gunjan Banerji, @GunjanJS Liz Young, @LizYoungStrat Eamon Javers, @EamonJavers Katie Kramer, @Kramer_Katie