Businesses. Kristin tate says nobody should be ashamed to get money from the government. The small banker that funded 100,000 Small Business loans out of one bank location. President trump is set to meet with officials on opening schools. It could makeorbreak our economy, this recovery but how would it work . Who really thinks kids will wear masks . I will ask dr. Nicole saphier. All that and much more on making money. Charles all right, so, heres the tally, folks. 521 billion dished out via that Paycheck Protection Program but not without controversy. Now the stats according to the Government Support 5million jobs. We know in that case it was successful there is a huge uproar a hot rich and powerful got a lot of cash. Businesses linked to lawmakers, caucuses, a whole lot of others. Billionaires, they got a piece of the action. You might have heard by now even rapper kanye west, his Company Secured five million bubbs. The shame game is on has everyone pointing fingers. Here to discuss, kristin tate. Kristin, heres the thing. The program has been politicized. In the last 24 hours, kind of used to portray folks being hypocrites. Give you an example, Ayn Rand Institute got a bunch of cash, a million dollars. Ironically they must have known the criticism was coming, a few weeks ago they put out a message saying it is okay to take the money. They called it justice. I know someone like you youre not necessarily always for government being involved in these kind of things. Where do you fall on this . Of course when the government creates a massive program to hand out trillions of dollars everyones going to want a piece of that. Sadly thousand, charles, i know several Small Business owners, who some in my family who never even applied for those loans because frankly they were too busy trying to survive to keep their Small Businesses afloat. Unlike Small Businesses though, large corporations have lots of resources and armies of staff who know how to navigate the bureaucratic system, who know how to fill out all the paperwork and jump through hoops and pull out big checks. You end up with country clubs, kanye west, private jet companies receiving millions of pp loans. That is our money. As you mentioned in the open, members of congress benefited. Nancy pelosis husband is investor in a firm that received some of the government money. The government has got to get out of the business of handing out dollars to everybody. We have to reopen the economy with precautions in place for those who are most vulnerable. Ive got to give a shoutout to thomas massie, he was one of only people who warned the stimulus is the cheese in the mousetrap. We know who is benefiting from the stimulus money and who basically just got crumbs. Charles apparently though, a lot of businesses, 4. 8 million loans were put out there. They say it supported 51 million jobs but to your point it is interesting, i want to get back sort of on the libertarian side the Ayn Rand Institute said, this is going back, i think they put this out in mark, we will take it unapologetically the principle here is justice. The notion is that if you put a lot of money into the government, via taxes, high taxes, unjustifiably high taxes you should have a chance to take it back. Is that a good moral ground, standing point for those who say listen, im wealthy, but i put a lot of cash into the system anyway . It was the government that forced the Ayn Rand Institute and others to stay closed for months on end. It was the government who prevented people from people being able to make a living. Do i begrudge the Ayn Rand Institute and other conservative groups for taking the money . No i dont. The ppp program should exist in the place, charles, because governmentforced and economic lockdowns never should have have happened. The government can only redistribute wealth of others. It cannot help. It only can force others to help. We need to remember, instead celebrating when the government is handing out checks to everybody, that 2. 3 trillion is coming from taxpayers once again, the hardworking men and women of this country funding the corrupt system we have in place. Charles yeah. You know, there is still 130 billion left. Do you think something should be targeted so that your relatives who didnt get a bite at apple, probably deserve it more than anyone else and other folks i talked to, somehow they know about it, get aid getting this money . When i talked to my relatives who are Small Business own earns, they dont want more government involvement. They dont want government help. They want government to get out of way. My step mom wants to open her restaurants and have people in her business again. That is what we can do to help the economy. That is better than any government connect. Charles yes. As Ronald Reagan said the most terrifying words you can hear, im from the government and im here to help. Charles i guess we can add the 2020 version to it. Because ive locked down the economy, i stopped you from opening your restaurant. Kristin, thank you very much. Always appreciate it. Thank you, charles. Yeah, folks, familiar script. We see it a lot in the last runup. Dow and s p marking time. Nasdaq continues on a record climb. We saw in yesterdays session we saw buyers emerge, it is interesting because they emerged throughout the session. Today its a little more subdued. The question is how we keep the overall beside trajectory . I want to bring in jack ablin and belpointes chief strategist david nelson. We got a boost with the jolts report. Job openings 5. 48 million. Street thought it was 3. 8 million. Over all the script were seeing, big moves in nasdaq, sometimes sideways but often up for the other indices as well. How do we keep that going . Nasdaq has become defensive play, charles. The fact is that these are rock solid Balance Sheets with business, in a business sector that is pretty insulated. So i think were seeing it now in valuation quite frankly. Eventually, unfortunately i think that market is going to become a victim of its own success. Charles yeah. So, david, to that point, i was checking yesterday. We closed with 150 some odd stocks at high on the s p. On june 8th. It was 191. Even as the rally resumed, you have fewer and fewer winners outside of those tech names. That is not necessarily the recipe to get us higher through the rest of the year, is it . Not in my opinion. I think, what we have to do is get a better handle on how the, you know, the covid scenario is going to play out. We obviously got secondquarter earnings which analysts are projecting to be down 44 yearoveryear. That will be a great story. But well see if investors start focusing on fundamentals. That could be a problem. Charles jack. Im not sure if your dog is agreeing with you or not but he is spirited. I like that. Yeah. Charles talk about [inaudible] Second Quarter mutual fund, the flows and performance are in, folks. Get this. The best year for domestic equity funds since 1979 in terms of performance. Here is the sad news. Americans pulled 94 billion out of those funds. So for all the handwringing about the flood of day traders, turned out investors squirreled away 264 billion in money markets. David i continue to believe ultimately the money will find a home in the stock market but again we get to the point when does it happen . It probably breaking out when we have new highs. June 11 gap down. We never confirmed that. Were very close, 3207 level in the s p would close the gap. If you break out new highs above that, greed will likely start to take over. I think the pullout from equities from a lot of investors from their funds is understandable. Fear starts to take hold. It is not the same for everybody. Some people will not get their job back. When october 1st hits you will see a lot of layoffs certainly in the airline industry. They kept the jobs going. Delta sent out messages to 2500 pilots. I think that translates to other businesses. Charles you know, jack, i know youve been bristled a little bit, been a little concerned about the day traders, when i see these kind of numbers, 75 billion went to bonds last quarter, 260 billion into cash, feels like the overall investing public though still on the sidelines. Yeah. I think one of the mitigating factors of my concern is the fact that investors are so cautious. You know, if you look at the bullishness among retail investors, it is trading in the bottom decile of the historical range and you go back to plot out how the market does from that point forward, the market is up double that then when we start in an extremely bullish position. Charles right. In a world where reality and expectations meet it certainly much better to have bearish investors with low expectations and hopefully the news comes in better than they expect. Charles yeah. Youre right. The contrarian play on Investors Sentiment is extraordinary right now. David, real quick, speaking of that, you talked about these markets hitting highs. What are your thoughts chasing the 200 daybreakout . Today, for instance, goldman, walmart, i just got into walmart, intel, these are just some of the names on the cusp, i think this is easiest way for traders to make money. Soon as you break the 200 day, you buy it, couple days later you can ring the register. I like to stay in longer than that. Goldman is on my buy list. Goldman is a fabulous company. Were even considering swapping out of Morgan Stanley for goldman at this point. This is the point on market at valuation. Not everything is expensive. Goldman trades 11 times forward. They will reap coupe those, get back to the highs back in 2019 in terms of revenue and the bottom line. For walmart and intel, intel is trouble foreme, kind of the gang they couldnt shoot straight. They missed mobile. They missed a lot of things. They lost out on apple. Its a keep stock but maybe cheap for a reason. Charles nvidia certainly taken a whole lot of their shine. I like you mixed fundamentals and technicals. Jack, david, thank you very much. Jack, tell your dog, i say thank you, we always appreciate your input as well. The dog was charles folks, while big banks are catering to those Large Companies and shutting out Small Businesses and entrepreneurs, later in the hour you will meet the tiny bank that stepped up in a huge way, saving perhaps 600,000 jobs in the process. She calls herself the Battle Tested maga candidate. Colorado primary winner lauren bobar will join us. She will discuss not only her congressional campaign, but whether or not she thinks President Trump should now expand his base if he will win in november. Well be right back. Experience the joy of a bigger world in a highlyconnected lexus vehicle at the golden opportunity sales event. Lease the 2020 es 350 for 359 a month for 36 months. Experience amazing at your lexus dealer. Charles republican colorado pry larry winner Lauren Bobert might have been consider adlong shot against fivetime incumbent republican scott trip, but her big win garnered attention of everyone around the country including President Trump. Congressional candidate Lauren Bobert joins us now. What a magnificent win. You had strong, core conservative values, the way you live. It is kind of gone counter to what we see in culture overall. Just what made you believe you could get this far . This was an amazing win. Thanks so much for having me on. This was a tremendous upset for the establishment and a fantastic victory for the grassroots and for freedom. That is exactly what my campaign is. Freedom for america. I really, i would like to give some credit to President Trump for really pioneering the way for folks like myself to get involved. We love that President Trump is not a politician. He is a businessman. He is a family man. And he loves america. He is really given permission to so many of us to step up and serve our country. Charles when was your moment, lauren, your epiphany, when you reached a moment, you know what . I should get in here, i could be a great representative for the people . Well, im a mom. Im a business owner. I have never had goals to be in politics or in government but i understand how government overreach really destroys our lives back here at home. Those decisions that are made in d. C. Affect our daytoday here. Last year when denver liberals stole our votes for president of the United States of america and promised to give them to california with their electoral college, with their National Popular vote contacts, i went out, on the ground with the people in this grassroots, citizenled movement to repeal their National Popular vote contacts and save our electoral votes. I was the second largest signature gather in the state. I saw that we were underrepresented and our voice was drowned out by cities like denver and boulder who were taking over the state of colorado. I started looking to where i could be most effective for the people in my area. I saw my previous opponent record, he has conservative message when he comes back home, he seems to forget who he works for the people in the Congressional District of colorado. Charles the Supreme Court made that whole thing a moot point. You became a political superstar doing it it root way, the hard way. President trump, you met with him past weekend at Mount Rushmore. It gave a powerful speech. It was centered on american exceptionalism. The core audience. He put out a series of tweets. Some people are worried, he is not spending enough time with 120 days to go to broaden the tent. Any thought bringing independent voter, some other folks who may not be as affixed to President Trump as you are . Well, just like President Trump, i am an America First candidate. I love the message that he had. I felt it was very unifying. He is talking about how tremendous our, our country is. And the vision that our Founding Fathers had, the great things that they did to secure our nation, for us to be a free people. I dont believe it gets more unifying unifying than that. He was not creating a divisive narrative. He certainly addressed it, but i thought that his message was very encouraging and it was just an honor to be at Mount Rushmore for the first time that fireworks have been lit from there in 11 years with the greatest president america has ever seen. Charles all right. Lauren, you have an amazing story as well. Were going to watch it. Congratulations. You know, citizen politicians what the framers had in mind. They had you in mind. Congratulations. Well talk to you real soon. Have a great day. Charles when the big banks were shunning momandpop shops and small entrepreneurs when they were looking for pp money, one tiny bank, a one bank shop stepped up to help more than 100,000 businesses. Their ceo will share their story. Hes next and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. [camera man] actually anyone 50 or over is at increased risk for shingles. 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Accident forgiveness from allstate. Charles in 45 minutes President Trump holding a meeting with top officials how to safely reopen our schools. After he tweeted schools must open in the fall. Edward lawrence live at the white house with a preview. Edward. Reporter charles, President Donald Trump bringing together professionals from k12 as well as Higher Education and parents and students talking about reopening schools safely. He is pushing to get schools open. The first lady will join him at the top of the hour when this event does kick off. In a statement, White House Deputy press secretary judd deere says this, quote severe negative impacts of keeping schools closed including mental and social development are welldocumented including by pediatricians. St. Louis Federal Reserve found other longterm effects of school closures. Parents may be less productive working from home. Income gender gap could widen. The child may suffer because inequities may widen as high the schoolilies have resources the local one. Florida already mandated yes it will open but the mayor of new york city he understands the importance of all of this. Listen. I talked to so many parents who are trying their best to support their kids, be at home educators, still somehow either hold down a job or try to find a new job, try to make ends meet t has been really, really tough for parents. So bringing back child care is crucial. Reporter the new york city mayor says theyre looking at ways to open all of the Child Care Centers in new york city but no mention yet of schools from him. Senior Administration Officials says, the cdc officially never said they should close schools Going Forward. They said it was guidance Going Forward to reopen schools. They believe if you follow the cdc guidelines schools can reopen safely. Back to you. Charles edward, thank you very much. While parents and teachers know that their children need to be schooled, there is of course fear about sending them back. Surveys in fact show that 20 of teachers say they wont return to school even, if schools are open. More than half the parents think it is unsafe. Where do we go from here . I want to bring in fox news medical analyst, and a mom herself, dr. Nicole saphier. Doctor, thanks for joining us here. A very complicated issue this is one of those issues that cuts across everything because we cannot keep the economic recovery going if we dont open schools. Too many parents rely on the ability to send children to school, not just for an education but lets be frank, for so they can go to work themselves. Thats right, charles and its not just about the children physically being out of the house, getting into school. Yes, we know it is necessary for their development and their fundamental education and learning how to socialize but parents as well, you have a lot of working families. They depend on children going to school as a means for their day care and dont also forget, there are a lot of homes that actually depend on the School Feeding their children. So when you take away that avenue, that protection, that really puts a lot of people at a loss. You know, we have to think about this as a multipronged approach. We need to make sure were doing what is right for our children. We need to do what is right for our country economically, just moving forward. So are there going to be ways moving forward how we do this safely . Yes. It will not be that simple. Certainly not a onesizefitsall. You have to vary based on the state, looking at virus transmissible, and how much virus is circulating. Look at school districts, charles, what about the funding . Will they have the funds and resources that may be necessary . Increased venlation, sanitizing equipment, what can we do to make sure the schools can safely reopen. Charles what are the safety precautions that doctor, mom, doctor mom sapphire will hello her children . You know, charles, i have three boys at home. They range from college to kindergarten. Of course you have different conversations with each of your children, but the bottom line you want open communication with them. You want to make sure they understand what is going on. Teach them how a virus transmits. If they have the wherewithal or the basic education knowing hand wash, not touching their face, some level of social distancing can decrease that transmission, that is a big step forward, charles. That being said, i am not a huge advocate for our younger children wearing masks. I get worried about it. There are physical reasons i get worried about it. I dont want the stigma attached to it. Im look to our School Officials and leaders doing what they can so our children dont have to wear masks. Putting up plexiglass, staggered days children being there. We as parents need to be responsible for not sending our children to school when they are sick. I mean, we have all sent our schools when they have a cold. We cant do that now because that cold may not just be a cold in our child. Also i implore people to consider flu vaccines. Going forward into the flu season that will be crucial, also keeping people well. Charles before i let you go, is there a certain red flag you would be looking for once the process has begun to maybe put a pause on it . Well, sure, charles. We know that proactive closure of schools does decrease the peak incidence of these epidemics by 40 to 60 . We know if there is a lot of circulating virus in a school, the right thing to do will be to close it. Going forward, schools need to make sure they have the Distance Learning option. That children are not necessarily taking a sick day or a leave day because there is virus transmitting and people want to keep them home. I think that we really just have to keep an eye how much virus is out there. Just looking at the local data. Charles right. Going to be a challenge. By the way, a lot of folks wanted your opinion on children wearing masks. I am really glad you addressed that. Thank you for your time, dr. Saphier. Well talk to you real soon. Thanks, charles. Folks, well be right back i appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Charles big question a lot of folks asking today, who did the Paycheck Protection Program actually help . According to the university of chicago, evidence suggests that only 15 of businesses in hardest hit areas got help but in contrast, 30 in least affected areas received ppp funds. Here is one of the problems. Top four american banks, which account for 36 total of Small Business loans, in the First Tranche were only 3 ppp loans. Where the big banks failed one small bank stepped up big time. We want to welcome, Cross River Bank ceo. Thanks for joining us. Your story is remarkable. Let me rattle off these numbers, to share them with the audience. 105,000 loans. The average loan, 44,000. 4. 7 billion. Potentially saving 600,000 jobs in the process. How did you do it . First of all, thank you for having us, charles. Really a pleasure to meet you, and to be on the show. So we just sprung into action. We heard the call from, you know the u. S. Small businesses. There was an opportunity to help out. We are very technology driven. We have a ton of partners on the fintech side, folks that have access to the broad universe of Small Businesses because they dealt with them in the past, whether its you know, folks like dv, or blue vine or many others or intuit for that matter. We just decided to offer technology and application that helped them process the payment through the application, through the sba and through the each much what we call the etran of the sba portal in order to generate that muchneeded sba number that would trigger obviously the extension of the loan. Charles so i mean, its amazing, its remarkable. You hear about fintech all the time this is an application of it. No wonder it is the wave of the future. You wonder why the large banks couldnt do that or was it just too small . What do you think happened there . I think it was just illequipped or illprepared for that matter. It is not something that the theyre familiar with. They have a tendency to go all manuel, particularly on loan applications and loan underwriting. Were exactly the opposite. It is all about technology. The people should only be used for issue resolutions. So you need to have a Stellar Customer Service and it is a big tribute to my staff here of the fact they really stepped up but, the Underlying Technology is what helps you originate as many loans as possible because all these people that were desperate for cash. You needed just to act very quickly. Without technology, you cannot be done. Charles let me ask big banks are not equipped. Let me ask you about the 130 billion that is still in the fund. It has been given the go ahead. It is extended through august. Where should that money go . So thats a great question. Were working obviously with the hill and, we have some ideas. First and foremost, foreign nationals that do operate businesses in the United States have been underserved. It needs to be addressed. You know, some folks are coming to this country hoping for the best and here, you know, covid hits and theyre you know served and not being helped. The application needs to be tweaked and it needs to be broadened to that population. That is a big chunk of the Small Businesses population that still hasnt been served bit ppp program. Number two a host of other businesses with 99 employees who have not been served either. So we just need to obviously focus on the people that have had a track record and successfully deployed en masse, in the Critical Mass matter. So we believe that we fit obviously the bill. We would love to see with the powers that be, to implement a program that helps the businesses that havent been served yet. Charles right. And deploy that 138 billion. That is what the money is for. Everybody should get a chance to get money to pay salaries obviously. Charles you have earned a seat at the table. I hope someone from the administration is watching. So you know, people donated 230,000 pieces of ppe, including 10,000, n95 mask. You know what is crazy, you denied my business loan. I love you anyway for some Small Businesses. Hopefully we pick up the conversation in another month or so, because what youve done is absolutely remarkable. Well talk to you real soon. Thank you, charles. Thanks for having me. Folks, remember thursday, this thursday, 1 00 p. M. Eastern time, join neil cavuto, he has a virtual town hall, america works, morning works together. An open house, has guest for entire hour, real estate pioneer Barbara Corcoran will be here, answering your questions about the housing landscape because it is going rapid change. Dramatic change. Send your questions to fox business. Do it on facebook, instagram. Also email us at investedinyou foxbusiness. Com. You want to be a part of that big show. Meantime operation warp speed, the federal government paying big bucks to major pharmaceutical companies. They want the corona vaccine now. Theyre paying out money to get it. You will hear the details. Im sharing hospital surprises i see that could push President Trump to victory lane over joe biden. Well be right back as a caricature artist, i appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles big news this morning before we even started trading. Major pharmaceutical Companies Pushing forward fast. In fact more quickly on the Coronavirus Vaccine as the government is willing to pay big bucks. This morning regeneron, novavax to accelerate a vaccine to fight covid19. Cheryl casone big details. Reporter the stock move something novavax, it is on fire. It was awarded 5. 6 billion in funding from operation warp speed this is a Government Program aimed up and speeding delivery after covid19 vaccine. The maryland based Company Never brought a vaccine to market. The money will go to latestage studies, manufacturing, and delivery of 100 million doses by early as, key phrase here, late 2020. So yeah, this year. We shall see. Were hopeful. Now operation warp speed is a multiagency effort and it is success or failure is a particular interest to businesses operating in parts of the economy facing difficult path to reopen. Gyms, for example, are facing the challenge of indoor environments where those with close contact, heavy breathing, sweating, dense air, that is a perfect setting to spread the coronavirus. That would be welcome news to the Restaurant Industry with many cities are struggling to make profits when they can only operate at 50 capacity. Their margins are already tight in the business. The jump in novavax is jumping etfs to the best one day performance in weeks. There is the novavax stock. Etf investing, etf, germ, that is is a lot to say, i love the ticker. Up 4 today thanks in parts to the holdings in novavax. As you know im an etf kind of gal. I think it is fascinating some of these etfs are launching amid all of this. Charles i think youre absolutely right, cheryl. Germ, i will put that on my watch list. Always appreciate it. Folks a new poll from the Financial TimesShows Americans are actually becoming more pessimistic about the prospects for a quick economic recovery in the wake of covid19. I think provides a perfect backdrop for two potential october surprises that could keep President Trump in office. I will bring in the author of, theyre not listening. Ryan, i think the fact that americans in this poll are looking for Slower Economy and more coronavirus cases gives this administration a chance to step up to the plate and prove everyone wrong for socalled october surprise. What is your overall thoughts in all of this . Yeah. I think that, listen the coronavirus offer as tremendous opportunity for the Trump Administration to restructure our economy, to make it more beneficial for workingclass people. That is what fdr did after the great depression. If he wants to sit there and help himself, especially in key swing states you should be looking doing things like a infrastructure bill, especially in the midwest, because infrastructure is the number one problem with growing manufacturing jobs in the midwest. Not just labor costs. It is infrastructure. Working to bring supply chain homes directly to the key states like michigan, wisconsin, pennsylvania. He should look at pharmaceutical pricing overhaul. I think those are things you get a lot a lot of democrats and independents behind. That would benefit himself. More importantly, contrast to himself joe biden, joe biden says i will bring you back to normal. What was normal . Normal was declining midwest. A normal declining Middle America for 30 years. While Silicon Valley got rich. While wall street got rich. The Chinese Communist party got rich. Throwing america backwards into economy not working for all americans. Wages were not growing like when President Trump was in charge. Talk about joe biden wants economy of the past wasnt working for you, when wages werent growing. He want as cultural revolution of aoc in the future for the next 30 years. That will not work for the average american. Talk about the victories he made precoronavirus and get them back there, and make the economy better for workingclass people. Charles i hope he is listening. I almost pulled out my tambourine when you were talking ryan. One thing but, you have been warning folks for years about the arrogance of the elites. You said eventually it would turn this country upside down. That is exactly what is happening now. I think what is really ironic, even liberals are starting to voice concern. I saw robert reich tweet he talked about the massive wealth of a few in new york city, new york city and liberals of course now also warning about the cancel culture going too far. Now you go into even more details in your new book, theyre not listening. Tell us about it. I was on your show almost four years ago, telling people donald trump would be the president of the United States simply because of this. Elites around the world, new york city, Silicon Valley, london, singapore, wherever they may be sat there promoted ideology and orthodox did not work for most americans and most people around the globe. Things started progressing from hungary, to switzerland, italy, United States, where National Populists were elected because the elites had a program on immigration, on foreign policy, on the economy simply did not work for average people. The angrier the people got, less elites were willing to listen. When donald trump even when he was elected, deep state in the washington, d. C. , democrats and Republican Party refused to push a lot of his agenda. This second term what he promised to do during the first, finish what he wants to do during the first and deliver for workingclass people. Charles ryan, i got to tell you, you have your finger on the pulse what is happening in this country better than most folks. First of all congratulations on the book. Encourage everyone to pick up a copy. See you real soon, ryan. Thanks a lot. Thank you, charles. Thank you. Charles were Just Moments Away from President Trump addressing how to reopen schools safely in the fall. Make sure you stay here for thoe straight from the commanderinchiefs lips himself. Meantime the market sort of drifting a little bit here. We couldnt get any kind of a spark. Overall it has been a great run for this market. There is one last hurdle i see. I bring in two of my favorite analysts to help explain how we get through them. Well be right back vo were all moving at our own speed. From essential workers. To frontline responders. To you. Whenever youre ready to get out there, enterprise is ready, too. With our complete clean pledge, youll have the peaceofmind that well get you safely on your way. Wherever. And whenever that may be. Enterprise. When youre ready, were ready. But what if you could stdo better than that . K. Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Charles all right, folks. The nasdaq just turning red a moment ago. What we have seen in the last couple hours is a transition, believe it or not, profit taking in a lot of these big tech names. The moneys going into Consumer Staples, walmart, philip morris, costco. Of course, its been apple and amazon thats had the market really taking control of this market. They hit alltime highs today. Microsoft, netflix, facebook, nvidia, they got upgrades this morning. So did chipotle mexican grill. A lot of money and focus still on these big tech titans, communications titans. I want to bring in bny mellons chief investment strategist along with dewine capital analyst. I think whats really interesting about this, alicia, wall street cant keep up. This morning you got a new target on amazon, 3300 from 2750. This from robert barron, a smart firm. They were bay oway off on their target. Apple, Raymond James now says its going to 400 bucks. Yesterday they thought it was a 340 stock. When they are like this, it tells me they cant catch up to the fundamentals and maybe these names keep going. Maybe its not day traders but good oldfashioned fundamentals pushing these names up. Thanks, charles. You know, the truth is that price targets tend to be art more than science. Its often the case when you have a market like this that the analysts are behind where the actual stock prices are. So its not that surprising. It often adds an extra leg upward, particularly if the stock has based for a very long time. It really is that extra engine. Charles dani, what do you make of it . The big debate, how much further can they go but it feels like again, that the fundamentals are justifying the rally. Yeah. You know, back in 1998, 1999, we lived through those sessions where you know, there was no gravity and things completely became disassociated with price and valuation but those Companies Really werent making very much money. These are real companies, they have real value, and i think that theres a big pileon specifically on the top performers. Nat d nasdaq, 16 year to date gain not including today. The top ten performers are 90 of that gain. The top five are 73 of that. Theres a big push upwards to big, big giant names and i think analysts are always playing catchup, either on the way up or the way down, unfortunately. Charles right. All right. Lets talk about history again, because im glad you brought that up. All these superlatives about this market bounce from that march 23rd low, to a degree it probably shouldnt be a surprise because if you look at the last four bull markets that came after a 30 plus bear market, if you look at the chart, we are on course so this has happened before, alicia, and it also suggests there may be more upside. Yeah. Actually, you know, the bounce from the march low looks very similar to what happened in 2009 when we hit the low in march and came up pretty much steadily with some softening in june and july, then moved upward from there. This action looks very similar to 2009. Some of the technicals we saw a few weeks ago suggest that six months from now, we will likely be higher. Even if we have some softness over the summer which we probably will get. Charles dani, i know you are not particularly fond of chasing names. We already saw rotation out of big growth names this session into Consumer Staples. You are still looking for these opportunities, arent you, like these value names . Yeah. Value has been the worst play ever as many Value Investors will attest. We still find there are value names so we are still waiting, twiddler our thumbs, holding our breath and watching this rally. I dont like the chase and the reason why is because you are getting built up into somebody elses idea, right. I do think charles all right. Well you mentioned Consumer Staples and discretionary and theres a move into there. We are happy to see that. I do agree with alicia, i think we will see some softness going into the summertime but i do think we will see charles got to leave it there. Ladies, thank you both very much. We always appreciate and learn from your wisdom. Ive got to hand it off to cheryl casone, filling in for liz claman. Cheryl got a lot of breaking news this hour, charles. Thank you very much. At any moment, we expect to hear from President Trump in the east room. This is at the white house. You are looking at live pictures right now. Hes expected to participate in a National Dialogue on safely reopening americas schools. K through 12 and Higher Education, professional students and parents of all levels of education are going to be in attendance as School Boards and universities across this nation develop plans for a return to the classroom. We are going to take you live to