Putting your money . Plus yesterday we brought you our america invests together virtual town hall. Well continue to answer your questions. As violence erupts across America Joe Biden tries to separate himself from the rye oats as he visits the ratest hot spot kenosha, wisconsin. His message of law and order is beginning to close the gap. All that and much more on making money. Charles the meek shall inherit the stock market rally. Dow jones industrial average, finally broke into the clear yesterday, out of the shadows of nasdaq and s p with a strong performance. It moved the index back above 29,000. Three major equity indices are floundering. It is clear money seeking out blue chip names. Within the s p 500, biggest losing sectors for the year, theyre coming on with h with gangbusters. They are universally loved. Stocks associated with reopening the economy are dominating the toppersage gainers, cdc there are reports out they want states to be ready for Vaccine Distribution by november 1st. There are haircuts on hot stocks in 20. The question is, is this an overdue pullback and will investors load up again . There is a lot to deal with. Keith fitzgerald, we have shana sissel and 1847 financials greg branch. Keith, let me start with you. For the last few weeks youve been a proponent riding out megagrowth stocks. You know from time to time they hit these big air pockets. Have you made adjustments the last 24 hours . I have not sold anything, charles. But i have gone shopping. Im not concerned because these are computer driven. These are bets that digitizing our economy and that will plow forward. Im very happy to buy at lower prices if i get the opportunity. Charles you know, greg, welcome to making money. Glad to have you. Thank you. At some point this has to happen. From time to time buying the dip has been a huge winner, but you can go back to 2009 particularly when it comes to technology. Is there anything different in your mind . No, it is not entirely different. With respect to keiths point agreed there is some sectors around some particular companies that have experience ad structural tailwind. By and large this is not different from what we saw in 2010. In 2010 and 12, what we saw as the economy rebounded other sectors outperformed tech. If you believe consensus, when we start to look at calendar year 2021 consensus is expecting the s p 500 outside of tech to grow at 35 and it is expecting tech to grow at 15 . Really hard to justify premium multiple when you dont have relative outperformance in earnings. That said, as keith pointed out there are go ahead. I was going to say on that point then, youre saying this time the rotation weve seen a lot of false starts the last few months, make this is the deal. And if it is the real deal what names should benefit the most . Feels like everyone on wall street loves the financials. Right, right, and for good reason, charles. When i look at 2021 there are a couple of sectors that are going to exhibit triple digit Earnings Growth. Financials is one of them. Consumer discretionary looks opportune as well and look at the financials theyre trading vast discount, some cases to typical price to tangible book multiple. When you combine cheap valuation what looks to be 100 Earnings Growth next year that provides an attractive opportunity. Charles shana, let me get your thoughts here. Again weve gone through this this is probably the most pronounced pullback weve seen in tech. It has been a heck of a run. We all kind of knew it was coming, when it happens, we start to ask what is the next move . What is your next move . Im not necessarily negative on technology right now. I still believe that there is a huge change going on in our economy and Technology Driving efficiencies. Im looking at not necessarily financials. Financials are challenged by the low Interest Rate environment. That puts a lot of pressure on their margins. Yes, they are undervalued. Yes, they should revert to the mean. In terms of longterm growth opportunities. It is not a place where i think has the tailwind that some other sectors do. For me one of the areas of opportunity were seeing is in some of the airline areas. When we think about this reopening trade, this rotation that is going on, you have to think about what is next for the economy. As we continue to move towards progress of reopening as virus news continues to be positive, i think that will be a positive for travel oriented names but airlines most definitely because theyre not as reliant on leisure and Tourism Travel to get more people on their flights. Charles they will have to see business pick up. Im glad you brought up that topic. We all know about the socalled wealth effect, right . Folks that is essentially stock market at alltime high, real estate at alltime high. If you have access to both, it feels great. It has a Strong Influence on consumer behavior. If we layer on the possibility of a vaccine last month, the combination of a health and wealth effect, that should be mon you monumental for the economy. How much would a vaccine change the dynamics of everything . It would change everything category, charles. When you look at the jobs number, it really demonstrated there is a sizable forges of portion of our fellow mention who are not feeling any of the wealth effect factors. We have 30 Million People still on some form of state or federal government unemployment and so what a vaccine does, it gives us a more robust recovery in jobs. In order for us to stave off the pain of the evictions and foreclosures that have been postponed until end of year, obviously with the hope that many of our fellow americans will, will obtain gainful employment and be able to work themselves out of that back mortgage debt but that all depends on a vaccine. It depends on the labor market more robustly. Charles sure. Keith, i would layer on to that the 3 trillion on the sidelines. You say where does the fresh powder come from . Even folks unemployed they have been spending a lot of money. As fiscal policies helped, congress is blowing it right now, but what if we get that . Ultimate onetwo punch would be the Health Effect combined with the wealth effect, say next month for instance, how does that change the dynamics of this market . I would add a third piece. There is wealth, health, and confidence factor f were confident and hopeful, we maintain the positive narrative, i think the market takes off like a rocket. You have optics Like Airlines and cruises that arent going to return to normal 2025. If you get vaccine on occasion, maybe that is next year. That is when the stuff really will go. The money is going to move. I think it will be amazing rally even from these levels if that happens . Charles i know people have taken like hundreds of cruises. They may go on one anyway. Everyone i know has been frustrated with the Financial Media sort of disdain, right . For what is happening with the market, to a degree though, theyre taking it out on the Retail Investor right . This morning, for instance, robinhood under investigation now apparently for selling order flow which is something that is it legal but they apparently didnt tell clients early on. Courts wrote a piece that tied to practice of selling order flow to bernie madoff. I think the robinhood crowd gets a bad rap. Shan narcs youre worried about the millenia investors and what they may be doing to this market . It is not so much i dont like them but as much im concerned when i see young investors who have never really invested before getting into the market. You have this tiktok investor crowd. You watch these videos and theyre concerning because they are wellmeaning but theyre not coming necessarily from a place where theyre educated and that leaves them open for being, being preyed on so that is my bigger concern is that the bad actors in our industry and they exist, take advantage of this and robinhood example is a good one. So i am a huge proponent of Financial Literacy for young people. I think its a good thing. But i am concerned theyre so into and enthusiastic about a market that is clearly overheated. Charles i follow you on twitter. That might be a little bit of a different issue, greg, the overall issue they will be met with doom and gloom. I think they have done extraordinarily well. We cant have it both ways. We want millenials in the market. But when they get in the market seems like a lot of people on wall street are upset. Have they changed the dynamics how you invest . I would say they have an impact and one of the things we need to watch and i think is a legitimate area of concern the high correlation in terms of the names theyre investing in. So when you look at market breadth it has narrowed very acutely over the last few months. That has often been a red flag when you look at the other periods of narrow market breadth. It has been met with severe periods of underperformance. On the individual level i worry about the amount of leverage they have been able to employ. Weve all seen really tragic anecdotes how this affected people on the individual level. Buff on the macro level, there is also shadow credit, right . Charles right. In the midst of a rotation or choppy downturn how does that affect Consumer Spending and Consumer Confidence if one has drawn down all their credit trading . That is something i think we need to be careful of well. Charles i think were going to find out. Greg, welcome to the show. Shana, keith, always appreciate it. All very much. Appreciate it. Joe biden as been forced out of the basement earlier than labor day as he and President Trump both visit battleground states trump Senior AdvisorKatrina Pierson weighs in next. We got a monster response from all of you for our town hall with barstool sports founder dave portnoy. You had a lot questions. Well try to answer more. I got my first parttime job, i was wondering how should i get into the stock market. Long term, i dont care what anybody says, amazons, teslas, i dont care how high they go, shopify, you cant go wrong with that if you have time on your side. Charles hang tough with those. Start to accumulate them on a dip. An army family who is always at the ready. So when they got a little surprise. Two . They didnt panic. They got a bigger car for their soontobebigger family. After shopping around for insurance, they called usaa who helped find the right coverage for them and even some muchneeded savings. That was the easy part. Usaa insurance is made the way liz and mike need it easy. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save 400 a year on your wireless bill. Plus, get 400 off when you buy the new Samsung Galaxy note20 ultra 5g. Charles another night of protests in portland. In fact7 97 flights. Owners forced to think if they do business there. Grady trimble in chicago where many businesses are struggling to stay afloat following unrest all over the country but particularly in that neck of the woods, grady. Reporter charles, in particular the city is hit with the doublewhammy of the pandemic. On top of that unprecedented unrest and violence. That is not just happening here in chicago but other cities as well. Lets look at numbers in San Francisco. The chamber of commerce says sales at restaurants are down 84 compared to a year ago. Many restaurants are still closed. Many people choosing not to eat out. Others left the city entirely. Looking more broadly, more than half of all storefronts in San Francisco are closed. The number greater than 75 for Entertainment Venues and bars. They attribute that to the pandemic, not unrest. Nonetheless many Large Businesses have been sent packing. Charles schwab, mckesson, among companies leaving San Francisco. Other companies are letting employees work remotely which means they could leave the city if they wanted to. Youve seen these images, overand over again in portland where coronavirus is part of the problem but the rioting has gone on for months. That has become a much bigger problem. One downtown developer blamed the lawlessness on city officials there. He said several Big Tech Companies left the city because of it, including google, microsoft, airbnb. That developer setting a letter to the mayor and portland city council, if you know a retail or office broker, give them a call ask them how many clients they have are trying to leave. The number is like nothing ive seen in 42 years of doing business downtown. Here in chicago, we dont know of any businesses that have left just yet but we do know that it is of great concern especially after the most recent round of looting just last month. Several local Business Leaders as well as local elected officials sent letters to mayor Lori Lightfoot urging her to do something or they fear businesses will get out of here as well. Charles . Charles thank you, grady. Meanwhile just a short time from now but joe biden will participate in a Community Meeting in kenosha, wisconsin. Following the Police Shooting of jacob blake. The visit of, comes as the democratic president ial nominee is slamming the Paycheck Protection Program claiming that the funds never made it to Small Businesses. So i want to go to Hillary Vaughn in washington with the very latest. Hillary that is not true but he said it anyway. Reporter thats right, charles. This is not the first time democratic nominee joe biden made the claim that the Small Business loan program did not help as many Small Businesses as the program was intended to. He said that back in may. He was fact checked again. He is pair losting the claims today. Look what the data from the Paycheck Protection Program shows. Analysis over five million loans were approved. Of that the average loan size was just over 100,000. 87 of loans were just for 150,000 or less. So really not a big money bailout to big business like biden claimed yesterday in his remarks in wilmington. Part of bidens trip to kenosha today is really about Small Businesses. He not only talked about how the Paycheck Protection Program did not help as many Small Businesses but he also talked about the president has not done enough to help Small Businesses that have been caught in the middle of these ongoing riots as their businesses are shuttered, many looted, many burned. Here is what he had to say about that yesterday. We should be dealing with those businesses that have been burned out and damaged. We should be finding federal help for those businesses to get back on their feet. But this administration seems to think it is all of sudden going to go away like angle dust will be sprayed around. Reporter President Trump met with businesses on the ground in kenosha earlier this week. He announced four Million Dollars in federal funds to help those businesses rebuild. Biden will also meet with Business Owners today in kenosha along with Law Enforcement there, we expect within the next hour. Charles . Charles hillary, thank you very much. Joining me for this, on this, gop strategist john burnett. You know i want to sort of get into what we heard from joe biden about the sort of, you know, whats happened with the Small Businesses. Lets start, im not sure if you heard grady trimble, his report out of the midwest. Really a mass exodus of businesses. Theyre fleeing liberal cities in droves in part because theyre seeing riots and before that it was the cost of living. But it feels like the plan that is already in place with these big progressive cities was already not working before 2020. Where a lot of people, including black americans were leaving and now of course with the violence, everyone feels, seems to be leaving. As you pointed out, charles, the business environment, i will use new york as an example was who are return does. Whether you talk about taxes, regulations, fees, it is really tough to do business. When you add a pandemic. But the ppp loans actually helped as you reported and Hillary Vaughn reported that it actually helped a lot of businesses but it was only intended for eight weeks, charles. Because at the time everyone thought that in a couple of weeks you know, a couple of months, well actually be back to business. Some businesses still havent been able to open. Charles, the best stimulus is actually revenue and profits. Open up. That is how we get back, you know the jobs. That is how we get backhoe call economies. Charles right. I again, it was a disingenuous comment from joe biden. However if he would have said a lot of money was generated and not all of it made it to the destination because there were some issues, right. To your point, they had to change the time frame. A lot of people got money that shouldnt have gotten money. So there is no doubt that the ppp could have been performed better but it is just not true to say there was nothing done for Small Businesses. Then you take a place like kenosha. According to their chamber of commerce there are 650 businesses there. 70 of them have less than 15 employees. We can help them. I think President Trump pledged at least four million bucks. How about we dont let businesses burn down in the first place . Absolutely. Biden recently made a comment about that. Perhaps he is choosing his truth over facts which is actually misleading not only his voters but misleading america. But charles, all he had to do was look back to his own administration. When you look at, for an example the car company ford, right, after they received a bailout of 2009, that helped them keep afloat but what helped sustain the business . When you look at sales. Look at ford sales in 2010, 2011 and 2012. That is what helped the company rebound. Similarly when you look at ppp, that is helping businesses sustain itself in the short term. You know what, we have to let them open back up so that way they can earn a living and actually pay people to stimulate the local economies. Charles lets hope it happens real soon. John, thank you very much, folks. Well be right back tada did you know Liberty Mutual customizes your Car Insurance so you only pay for what you need . Given my unique lifestyle, thatd be perfect let me grab a pen and some paper. Know what . Im gonna switch now. Just need my desk. My chair. And my phone. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. So when it comes to screening for colon cancer, dont wait. Because when caught early, its more treatable. Im cologuard. Im noninvasive and detect altered dna in your stool to find 92 of colon cancers even in early stages. Tell me more. Its for people 45 plus at average risk for colon cancer, not high risk. False positive and negative results may occur. Ask your prescriber if cologuard is right for you. Im on it. Thats a step in the right direction. Charles folks markets accelerating to the downside. For s p, 11 sectors, all 11 are lower. At one point energy, financials were actually higher. Your biggest loser of the day on the Technology Side is nvidia which had a remarkable run, giving up a large chunk of it today. All of your very, very hot stocks in the s p 500 all pulling back. It is kind of tough to see if the buy on dips crowd will materialize before the end of the session considering we got the big jobs report tomorrow but weve had, weve seen a few times in the session where the market is sort of parked on the downside. It has tried to rally. But the rally, simply the efforts are not picking up traction. Right now were at the lows of the session. With election weeks away, Silicon Valley is grappling how to mitigate criticism of negligence or censorship. Facebook downing it will address the issue with a general ban but you look at the nuance, it does feel like more of a ban mostly on trump ads. The chair of joe bidens top superpac is furious at google for refusing to run a digital ad depicting violence against protesters. If google were to existed in the 1960s, they would have allowed George Wallace to run ads. Trump 2020 Senior AdvisorKatrina Pierson. Great seeing you. Listen, Silicon Valley is in a real awkward position, particularly facebook. Yeah, Mark Zuckerberg kind of drew a line in the sand a few month ago. Said he would be impartial. He is getting beaten up and backing down. Is the campaign worried about that . I think the campaign suspected all along somehow Silicon Valley was going to try to continue to thwart our efforts. So were not really surprised at this. You know, to your point, it is going to disproportionally impact the Trump Campaign, everything we say or do they try to censor, and have been censoring for quite sometime but it is suspect though. At some point this looks like election interference. How can you continue to run certain ads up to a certain point and then stop . What if there is another steele dossier that was debunked comes out in the coming weeks. There is no way for the Trump Campaign to defend against it. So i do think its a problem. Charles i think there will be october surprise. There always is. What is interesting with the comments about the superpac, with the police committing violence against black, young black men in particular, the notion of comparing all police force in america to George Wallace and the most vicious days of alabama, they might be lucky theyre not showing that kind of a video in my mind . I tend to agree with you and when you consider what is happening today, Police Brutality is not reserved for a particular race. It is highlighted in many cases and also occurring in democratrun districts but the superpac doesnt want to talk about that one thing will be able to say at the Trump Campaign, we have President Trump who is a leader on the issue. President trump tackled Police Reform in 2019, long before george floyd became cool for the democrats. It will go both ways. Well continue to fight. The Vice President is fighting. Were out on a bus tour engaging with the people, answering tough questions, addressing every issue. Charles joe biden is out there today in kenosha. After saying of course he would not go. Then he lambasted President Trump for visiting. He says his goal is to unite the community. How will his visit than President Trump . He will include jacob blakes family where President Trump did not . I mean you cant have peace and unity when your entire attention is to politicize someones pain. That is exactly what joe biden is doing. The president visited in official capacity number one and did reach out to the family. Secondly joe biden hasnt been to wisconsin ever until today. So again, this is just joe biden and the democrats trying to politicize democrats infusing race into the race. Joe biden has a problem when he has to answer with his own record. Because he has one, charles, when it comes to race. Charles yeah. By the way a liberal publication took biden to task for ignoring wisconsin to your point. Good luck with the bus tour. It was highly effective in 2016. You built up quite a fan base. One stop at a time. Thanks, katrina. At 2 45 i will talk to the owner of melbas in harlem as the economic fallout in new york city as Indoor Dining looks like it will not come back this year. That could be the death knell for the industry, most of it. Social media is on fire with my town hall with barstool sports founder. Well answer more of your questions. On a down day like today well be right back. In terms of how i decide to invest in, i do believe in momentum. I believe in strong stocks. Instead of listening to all the networks, telling me doom and gloom and short and this and that, i trusted myself around weve had a nice turnaround s or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Hello, im michael youssef. Lately, we are hearing so many conflicting voices and i dont blame you if you are anxious and worried and troubled. But if i told you that theres only one voice that you can absolutely trust. After all, he wants nothing from you and wants to give you everything. Im talking about the lord jesus christ, who said, come unto me, all who are carrying heavy burdens and worry and anxiety. And i will give you rest. Hes the only one who can give you true rest and peace. Will you come to him . [female voice] are you waiting to find a trustworthy voice in the midst of the chaos of this world . Visit findingtruepeace. Com to find a voice that will never let you down. Again, thats findingtruepeace. Com. Charles welcome back. Yesterday we brought you our america invests together virtual town hall. Special guest was barstool sports founder dave portnoy. You sent us some amazing questions, right . As is always the case on live tv we couldnt get to all of them. I will answer as many as we canada. I brought in david nicholas, from nicholas Wealth Management to help me out. Lets go right to the first one. A video from an individual in the sunshine state. Patrick. Lets take a listen. Patrick goss, mill ton, florida. Im a bit concerned about market uncertainty. As an individual investor but only with an retirement account, should i take this years profits now and then jump back into the market once the election winner is determined . Charles i will say this, certainly a lot of profittaking today for sure. I normally take profits on most positions on the way up. I got to be honest, im frustrated as heck when they keep going up. Yesterday we took profits on page down 30 . Xyz at 50 bucks, is not the same as xyz at 20. I preach this all the time on the show. If the fundamentals havent changed, that means the stock could be overbought. That something you have to monitor. David, how do you handle these situations . That is a great question, patrick. I get the sentiment, concern. My mom is single mom. She had retirement account during the tech bubble. She took a significant hit. I saw the pain that caused so i get that but added to that fact it is very hard to time the market. Some of the best minds on wall street cant do it. I think charles can do do it effectively but thats about it. Take 50 of your account off the table if that gives you a little more peace of mind. Also gives you dry prouder to buy back into the market. Remember, march 24th and 25th of this year, after the rally the market jumped almost 20 . If youre trying to play catchup after the election you might miss it. I dont like approach of all in or all out. Charles all right. Now after watching the show i got a question from joyce. She says, i am 53 years old and do not know anything about the stock market. Even who to speak to for understanding. Can i use my 401 k retirement to invest in stocks . I would like to do something where i could make money now as well as without having to wait on accessibility when i retire. Can you help me and point me in the right direction . Dont have a lot of money in retirement either. I need help. Yes you do. Typically i got to Say Something you cannot buy individual stocks or bonds for the most part in 401 k s, i wish they would amend. You should be able to buy individual stocks in the s p 500 for instance. Be that as it may, you can try for more targeted exposure with efts. The good news, 401 k Many Employers match allocation. Most folks it is capped at 19,500. In your case, joyce you can add 6500 bucks as brand new provision for people over 50 to catch up. You clearly need to catch up. David . Charles, great points. One thing i will add, balance or target date funds, you dont have to think much about it. Line up the age with target date fund. Buy back more in the market, reduce exposure every year. One last thing, old employer, old 401 k you can roll that into ira. Current employer, charles, youre right. Past e employer you do have the opportunity. Charles great point. Pamela is asking, my parents started investing in the markets in the 80s, have built up considerable portfolio they receive quarterly dividends. I am the only child there is so much talk about the upcoming election how it will impact the market. Im concerned about the future dividends. I appreciate any advice. Should i ride it out, stay the course, make short term changes . I would say dividend is intriguing. Like the payments hang tough with them. Do an inventory of the companies because some of these companies have stopped paying dividends this year and some may not be able to. They may not have the cash flow. That is something that you have to worry about. Also, david, a lot of people worried about the elections. I havent taken that into account. I do believe i will have more cash for my subscribers as we head into november 4th. November 3rd. Rather. Charles i think that is prudent. I think youre doing the right thing. The idea there is a better opportunity to take advantage of some of these names. I look at dividend stocks like quality real estate. If you have a Real Estate Property where the tenant is paying rent every year for 25 years, the real estate value will go down but are you going to sell the Real Estate Property if youre getting rent payment month over month . I look at dividend stocks the same way. As long as charles said these are Quality Companies you should be just fine. Charles david, thank you very, very much for that. Now i know why youre so conservative. You never gave us a secret before. Now we know. Folks, if you miss yesterdays show, check it out this monday, 2 00 p. M. Eastern time related here on fox business. Meantime, i want to take this time to ask everyone who is interested in the stock market to consider my book, unstoppable prosperity. The market is down big today. The bears may be rejoicing but the fact is market pullbacks, even crashes are going to happen from time to time. I know, ive been inn four of them myself. I share what i have learned in this book, unstoppable prosperity. One of the biggest is in takes is investors to make is panic. That includes not taking losses on stocks you know are not coming back. Deciding to hold, deciding when to bite the bullet a big part of my book. Get your own copy. Go to unstoppable prosperity. Com. No official sometiming when new york city Indoor Dining will resume. A ton of fear among new york restaurant owners. I will coming up talk to the owner of melbas in harlem. She will argue that the homeless rate will rise if nothing happens very soon. Well be right back rather than worry about how to pay for longterm care. Brighthouse smartcare℠ is a hybrid Life Insurance and longterm care product. It protects your family while providing longterm care coverage, should you need it. So you can explore all the Amazing Things ahead. Talk to your advisor about brighthouse smartcare. Brighthouse financial. Build for whats ahead℠ brighthouse financial. If i could, baby id how can i, when you wont take it from me you can go your own way go your own way your wireless. Your rules. Only with Xfinity Mobile. Charles many of new york citys aclaimed restaurants are not immune from the covid19, with city official what is they have done on prohibitions on Indoor Dining. Cheryl casone is live with more on this. Cheryl. Reporter you know, charles, governor cuomo, mayor bill de blasio seem to be clear, let the citys restaurants die. They wont allow Indoor Dining. Refuse to commit to time frame. De blasio admitted there was no plan to go indoors despite the hungry new yorkers can venture to new jersey, westchester, nassau, to sit inside socially distanced and masked. No. They say what theyre waiting for to keep the large feet on necks of 25,000 restaurants remains a mystery today. Meanwhile ppp is all but gone. Even the highend restaurants which de blasio really seems to hate may be shut down for good. Daniel ball loo, danny meyer, Restaurant Association spoke up pub legally saying enough is enough. Theyre banning together with likely next step suing the Cuomode Blasio duo. The only way to get their attention is to lawyer up which already happened in Staten Island i should mention. De blasio said dining out is optional activity they understand economics 101. Restaurants, employees, food vendors, suppliers, cleaning crews, that is not option hal active. It is their livelihood. 150,000 Service Restaurant employees are out of work. 1300 restaurants have been permanently closed that number seems kind of low. It is being questioned. Even gyms are open, right . In new york city. Every day the press asks the governor where he sits on Indoor Dining and returning to nyc. He would like it all to return but it is i am possible for the city to enforce the rules. So again there was a nonanswer there. Remember, charles, this is the same governor that was, literally begging people to come back to new york so he could buy them a drink. I guess he met a cup of water in central park because that is all that might be left in the next few months. Charles . Charles cheryl, thank you very much. Joining me now, melba wilson who owns melbas restaurant in new york city. Melba, waiting for decades, harlem has come up very nicely, but the neighborhoods, particularly businesses there taking massive losses. This i saw an interview with you in april, you talked about your employees, champ 70 years he would, josh the busboy, mohammed phenomenal cook, expecting girlfriend you love your workers. Ive been friends with you, known you 25, 30 years, i know how hard you worked to get this business. What are your thoughts now . Yes, charles, this is really, really heartwrenching to us, our restaurant employees are truly an extended family. So not knowing when we will reopen for Indoor Dining is what is killing us. Ultimately if we plan to fail, we plan to fail. If we fail to plan, we plan to fail. There has got to be a plan. When you look at westchester, long island, new jersey opening up soon, and you look at gyms, how can you not open up restaurants even if you think 50 . You know in the Restaurant Industry our margins are very, very small. We need to be at a certain capacity to even pay the bills. To say that you dont know when youre going to open the Restaurant Industry, what youre doing is youre putting hundreds of thousands of peoples lives at risk. Charles right. I mean youve done an amazing job. Obviously, with what you could outside of the restaurant and you know, you not long ago you bought, you got the space next door but winter is coming. What, i mean youve got access, right . I think you must have spoken to someone in the de Blasio Administration or with the governor. How exactly do they justify this . Well, what theyre saying is, theyre worried about the spike. Look it has been over 21 days. We met all the metrics, charles. Every time they say do this, do that, we have met the metrics. I dont know how a restaurant can open up in, lets say westchester and not open up in harlem or open up in the bronx or and not open up right across the bridge. Its insane. Jersey is opening up. The gyms are opening up. What is happening they are killing our industry. Ive got to fight with everything that i have to make sure that this does not happen. You know, im a single mom. Im im a black mom, born and bred in harlem. With youre hurting minorities more than anything else. Because a lot of us do not have the ability to bounce back. Charles yeah. Well, medical barks i know how hard you fought to get where you are. Melbas is my wifes favorite restaurant in new york. Well come out to see you soon. Keep fighting. Well keep on this topic as well. Thank you very much. Thank you for the platform. Thank you, charles. Charles folks, initial jobless claims actually came in better than expected. So what does this mean for tomorrows big jobs report . Of course were on these markets which are really under tremendous amount of pressure. The question is why. Where do we go from here . Well be right back. California. We were one of the first stations to pilot a fleet of electric vehicles. Were striving to deliver a package with zero emissions into the air. I feel really proud of the impact that has on the environment. We have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future. Now you can trade stocks 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. Charles well, stocks are under pressure all session long, and you know, to a degree its a natural reaction after the kind of monster run we have seen off the march lows. Coming into the week, in fact, i felt that these major indices would have to test former resistance and test that support before maybe we can get the next big move in this rally i want to bring in rebecca walser. Obviously, we know we were going to have a session like this. I actually thought we were going to, after congress didnt pass stimulus the first time, so this ride has been remarkable. Where do we go from here . Yeah, you know, this is unprecedented. We are kind of waffling in the wind with no clear direction because as you can see, there are starting to be effects from the government stimulus wearing off and the fact that we are not reopen, just like your previous guest just talked about, you know, there are so many hodgepodge policies all across the country, theres no consistency and unfortunately, i think a lot of government officials locally want to stay closed for their own political reasons, keeping the economy sort of stymied. So if we dont get additional government stimulus and we dont get back to work, its not going to look pretty, charles. Charles you know, what you said, i agree with you but its a real despicable situation to think that you would put politics ahead of the things like you said, melbas interview was heartwrenching. I want to ask about the cbo because i know you care about these things and listen, the u. S. Deficit now apparently is going to hit 3. 3 trillion and its the highest level since world war ii. We know a lot of this obviously from the shutdown but what do you think, is that actually starting to influence this market or do we have i wont say a free pass but an easier go of it because of these ultralow Interest Rates . Yeah, i definitely think that we dont have the race that we had back in the 40s with world war ii and obviously, we need those low rates right now. In fact, the government, we talked about the Federal Reserve before changing their target or letting themselves have a pass instead of automatically raising rates and thats why, because they cant afford to raise rates with such large debt. We have a pass right now just because of the stimulus necessary for the economic recovery during a global shutdown but like your previous guest said, when she was on, we cant have a shutdown that will last two years and we dont have, you know, we dont have a vaccine, we have got to get back to work. We have got to reopen. I dont care about the politics. Lets get back to work. Youre right. Charles lets get back to work, open the schools and let us thrive. We know how to do it. Thank you very much, as always. Appreciate it. Cheryl casone in for liz claman. Cheryl, we think this is going to be one heck of a last hour of trading. Something tells me it will be buckle up. Cheryl i think it is a buckle up hour but i will tell you this, markets might be taking a breather, maybe thats okay sometimes. Thank you very much, charles payne. Here we go, buddy. We have a late summer selloff on our hands right now. After markets plummeted late this morning with one of the lead members of the White House Coronavirus task force, dr. Anthony fauci, saying its unlikely that a Coronavirus Vaccine will be ready by the end of october. The dow tumbling 912 points at its low just a couple of moments ago. Markets erasing all of the gains of the week. As you can see, the dow is down 891. We are pushing the session lows. The s p down 137, techheavy nasdaq, headed down at the close r