What i think we ought to do as we go into the march meeting and, obviously, in subsequent meetings this year. Charles now, there has been some intriguing action despite what you see in the overall market. Hardhit stocks finding buyers as the coronavirus stocks are actually giving up gains. And then, of course, mixed signals from the socalled safe havennings. Also the crisis deepens around the world, the number just keeps getting higher and higher, the number of countries with confirmed cases topping 50 and that includes mexico. However, the global rates for a vaccine is offering greater hope, and in the Business World we have amazon thats asking all of its employees to defer nonessential travel including in the United States, and just moments ago that google is banning employees from traveling to south korea or japan after one of their employees in zurich reportedly tested positive. Back here at home, california has become the epicenter of the virus with more than half of the confirmed
Governors are saying we have done a fantastic job. Gavin newsom said there is not a thing he asked for we werent able to give them. Critical guy like we all are, but it was a very positive statement. Many democrat governors have said that the task force and, the federal government, what weve done has been terrific. Reporter [inaudible] well, this was unexpected this was something that came out of china and, it hit us and many other countries. You look at numbers, see numbers watching you folks, i see it over 100 Different Countries and it hit the world and were prepared. Were doing a great job with it. It will go away. Just stay calm, it will go away. We want to protect our shipping industry, our cruise industries, cruise ships, we want to protect our airline industry, very important but everybody has to be vigilant and has to be careful. But be calm. It is really working out and a lot of good things will happen. The consumer ready. The consumer so powerful in our country what weve don
Charles nasdaq and s p are in record territory as many momentum names like nvidia, tesla, they continue to soar because they keep getting upgraded as housing data blows away wall street consensus, adding fuel to my theory well see a housing boom this year. I have the pleasure bringing in two of the best. From kaltbaum capital management, Gary Kaltbaum and rosecliff capitals mike murphy. Gary, start with the momentum names. We know the maga names. Microsoft, apple, google and amazon. Own a bunch. Charles we know there is also tesla, got a new upgrade today over 900 a share. Nvidia, got an upgrade. This new tesla, virgin galactic, this stock is unstoppable. It is amazing you are excited. Charles i am excited. Very important to recognize were in one of these moments we dont see very often. Charles maybe that is why im excited. The eiffel tower look. Basically going straight up, they get piled on. No knows where they stop. I keep hearing tesla was done at 900. It could go to 2000. Virgin g
We have that and a whole lot more on making money. Charles major indices in selloff mode this morning with most testing key support points. Many are bracing for this. Many are hoping for a pullback in a long time. How does an investor know when it is overdone . I want to discuss that with Gibbs Wealth Management cio erin gibbs and liz young and Capital Wealth Planning jeff saut. Let me start with you, liz first because youve been kind of feeling like okay, wall street has been talking up this day for a few weeks, perhaps over a month when it came. Were at this moment. Where do we go from here . Leading up to this day weve been saying the risk for disappointment was pretty high. The shanghai composite was down only 2 before this. That didnt seem like enough. Markets in the u. S. Rallied through the beginning of the year. Didnt seem like there was enough after pullback. It felt like it had to be shakeup. Charles everyone agreed there wasnt enough of a pullback and you couldnt get the pul
Charles so today investors seeking caution and safety at onetwo punch, disappointing reports on the service economy, the u. S. Service economy and worries that the coronavirus the coronavirus developments now outside of china people monitoring that very closely, but those fundamental developments, they continue to be very good. Ive been talking about corporate earnings to Economic Data and manufacturing and housing, lets bring if right now to discuss ceo rob luna, martin, both of you guys, the last 2 or 3 weeks have been fairly cautious, disappointed in you. [laughter] charles scott, youve been pounding the table, gold first and foremost, grease place to hide out, what else do you see . You can call me gold member, i guess, charles, like the austin powers movie because i think thats where you have to be frankly. And youre right, its not been just like climbing the market or saying, hey, things are going to get bad, its just looking at the charts, looking at valuations and action just s