With phase two of the reopening plan the top new york state Real Estate Broker will tell us what she is seeing on the ground and 30 or 40 stories up. Power lunch starts right now. We are about even on the advance decline line but its Technology Stocks to keep powering those names, particularly in the top 25 let me show you sectors here thats essentially at a historic high. Quibble about it. Also having a great time that smh the second one there but Everything Else is kind of lagging so even cyclicals like industrials and banks, even defensive sectors Like Health Care and Consumer Staples they are lagging the big cap Technology Stocks. We have new highs as you heard there at the top but a lot of it is basically mega cap stuff at new highs. Apple is at a high new microsoft, adobe nvidia these are all of the top 25 in terms of market cap. All of them well over 200 billion in market cap at new highs. The big market cap they drag the rest of the indexes along with them they are saying walmart is entering an era of amply identified Earnings Growth driven by an enhanced productive loop that sounds ominous. The analyst is going to be on in a few moments to explain all of that back to you. We look forward to it thank you very much. Now despite the growing uncertainty. We put money back to work owing to the momentum that we have seen and expectations are enough to drive us further we believe back up to the highs but probably not much above that it doesnt imply a ton of upside no, it doesnt. One of the things that you were talking about or we were talking about on the segment was the return in momentum and the larger cap names and i think thats where we could continue to see momentum because folks expect the Balance Sheets during cash on hand and they were likely to continue to lead in just a way. You do think we continue in the start of another bull market and folks are skeptical that the bull market will be as strong as the last one you dont have stock buy backs for instance so is that good news or does it mean that this one could still disappoint us because its not that vigorous. Most bull markets if not all of them begin with very skeptical readings of the initial phase of that movement coming out of a very difficult time but a weaker trending dollar and steeper yield curve. Thats where the cyclicals in a Global Expansion this time around we think it is a Global Expansion if you take a look at the stimulus and liquidity out there and the markets are telling us this. Were likely to see them catch people off guard that are still on the sidelines which is why we think its a more powerful advance than most people believe. Were also getting numbers about just how high the global debt load is to get through coronavirus. What does that mean for the future does it have any investment implications that youre aware of theres two phases to this. Initially its pushed aside and then you have to deal with it down the road and when you have to deal with it, the key question is going to be whatis the interest cost . Right now were at record low rates. One of the surprises going on right now is very few people are pointing to this but i suspect that its going to pick up in the next couple of weeks. It comes down to how much do you owe . But that phases itself out overtime. We talked about your views on the market overall you Like Health Care here. Where else do you think investors should turn . Well, we have remained overweight technologies, specifically Software Services going back to the recurring revenue theme but we have added that to cyclical exposures as well, bumping energy back up and materials, industrials, those types of things. Going with momentum more so than a recovery in the fundamentals thanks, guys, appreciate it all right, kelly. Thank you very much. Troubling news about coronavirus cases in the south new cases in florida have risen 87 week over week and since reopening on may 4th across the state, cases are up nearly 170 as testing has also increased there but some potentially encouraging news on the virus treatment front as gilead says its going to be starting trials of an inhaled version. He is a renowned pulmonologist in the miami area. I want to get to the case count and what youre seeing in your hospitals that you supervise but lets begin with this nasal enhailed version and you yourself have been looking at an antihistamine and antiviral and you intend to present it to the fda this week. Why is inhalants such an approach. Research has shown that they are predominantly in the nose and trickles down into the lungs. Research in china has shown the same thing and we have a lot of interest in that area. So youre going to apply for an fda trial to see how it works as a combatant to the coronavirus, right do you have any ideas that it may work it does we have studied the capacity of killing the virus and within 15 to 20 minutes it was capable of killing more than 90 . Lets talk about what youre seeing in and around florida you worked down there in the north miami area plantation, general as well. Are you people Wearing Masks and if not, who is not thats an excellent question. We have relaxed way too much in terms of following the guidelines and using masks and we see this in the young population after Labor Day Weekend we saw a massive amount of people going to beaches and places. No using social distancing measures and no using the mask and the mask is important and we know that the virus replicates in the nose and then it trickles down so they will help with the transmission of infection. Masks, bottom line, masks work, right . They do absolutely lets talk a little bit about the point you just made there which is that it seems like its more younger people that are maybe less prone to get really Serious Health effects of this disease but older people seem to be a little bit more respective i hear you say one of the areas where the disease has been extraordinarily rampant has been Nursing Homes theres been tremendous death in the places what are we learning about how we manage in the nursing home setting and what changes need to be made so that those changes can be made safer for the elderly. I think that the infectious process is a lot and i think Nursing Homes continue to learn just like there are hospitals how to handle the amount of patients that we see but as you said, we see more young people than all the population. They are very cautious about all the distance and measurements that we had and we follow but young people would get in touch with the elders and i think that its an important mention that everybody should follow. What about the patient load in the hospitals where you work. How close are you to capacity and how concerned are you that you may have to print in tent hospitals and tent icus and so forth . I think that we can manage as it is today but we definitely see a significant increase in the number of cases. Three weeks ago we didnt have that many cases in our icu or the regular in the hospital. Today were reaching close to capacity and icu predominantly we have a large number of patients there diagnosed daily with covid i think that we learn whatever is coming. We have learned how to allocate resources better and so forth. I can imagine that we have also learned how to treat this disease better what have you learned . In the first few weeks we were all trying to treat our patients and using everything that we have today we know that if we use antiinflammatories like incredible recently and remdesevir we see less and less dying. They take a long time to get out of the icu and get off of the ventilators and it is a process for sure. Dr. Gustavo, thank you for all that youre doing and we appreciate your time today. Thank you. Coming up, stocks are near the highs of the session utilities among the best performers today while real estate and financials are lagging. Plus manhattan begins phase two of its reopening how much demand she is seeing in the partially shutdown city. Thats right after this break. Can i find an Investment Firm with a truly longterm view thats been through multiple market cycles for over 85 years . With capital group, i can. Talk to your financial professional or consultant for investment risks and information. Can i find an Investment Firm with a truly longterm view thats been through multiple market cycles for over 85 years . With capital group, i can. Talk to your financial professional or consultant for investment risks and information. Manhattan entering phase two of the reopening. Robert frank is live from a new condo tower on park avenue the big question for the Real Estate Industry is how many of those people are going to come back and at what price are they willing to pay to live in new york city. Now this morning marked the big step for the first time in three months able to show apartments and hold open houses this market has a long way to go to recover you look at listings those are down by over half during this crisis you can look at sales contracts. Those were down by over 80 in may which was actually an improvement from april and if you look at prices, prices were down in new york city between 10 and 15 even before covid and now the question is whether they would fall an additional 10 or even 15 beyond that. So we could be looking at prices down 25 or more since the peak of the market. The sector to watch and the bell weather would be new development. Buildings like this one which is a brand new condo tower on park avenue this unit here about 3,900 square feet. Originally priced at 18. 9 million they already chopped it by a million so now its a mere 17. 9 but there is a 6 or 7 year supply of new development with a lot of these new units coming on the market now the big question is that. 18 million. Now i want to see what you get for that kind of money stay right there for more on what the Real Estate Market could look like post pandemic, lets welcome in the ceo of the new york based real estate firm. Its great to have you here and yeah, i mean, prices down 25 from the 2017 peek are they going to have farther to fall . Its hard to say. We were already in a price correction before this pandemic hit. So i expect prices will correct more and people want to buy and sell and rent and as long as transactions are happening were happy. Who wants to buy primarily who has the confidence in this environment. This is new york city its one of the greatest cities in the world and people want to live here and they want to raise families here so thats not going to change. There may be some people that decide that they dont want to live in vertical living anymore. Thats possible. Well see some of that and there are going to be some people that double down and want to stay in new york city. Well only know in the upcoming months its hard to tell right now. Its interesting to me. It seems like the flip side of what is happening in the suburbs of manhattan right now manhattan itself sounds like a buyers market. The suburbs are a sellers market we have things going for a lot over asking price often all cash and you wonder how long these trends will last and the big mystery here is we just dont know whats going to happen in manhattan because its been shutdown theres been no price discovery. We have seen all the demand out side even in florida and we dont know what impact if any its going to have my question is for bargain hunters, which segment do you think has the best deals right now . Will it be Upper East Side coops or condo buildings downtown which segment for people looking for the first time to buy in new york, looking for bargain, which segments will have the best price cuts or discounts . Well, i think the Upper East Side is an incredible place. Theres a lot supply there so if people could find condos and coops people like the Upper East Side because theres schools, hospitals and parks and incredible value to be had and you know downtown is typically more expensive the west village and soho but the east village is emerging a lot of people like the east village and theres value to be had there. Brooklyn is always a great place to find opportunity so i think that it depends on what youre looking for and just to talk for a second about the fact that there has been, you know, an incredible demand in other places, thats true for us in palm beach, connecticut, and you know, you cant keep stuff on the market there its going to take time to see how new york pans out. Im famous for compound questions, here is number two. What are the new buyers in the market asking for that maybe they wouldnt have asked for four months ago . Well, there are some sellers that do want to leave new york we have some of those that wish to move to the suburbs remember the issues with the taxes have been a problem prior to the pandemic. People have been leaving here because the taxes are ridiculous so that has been one issue why sellers are leaving and some are going to florida some are going to different states where its a little bit more flexible. And some sellers feel that way on the other hand theres some comfortable and maybe thinking about different space. They want a home office and outdoor space and its a mixed bag completely and a lot of buyers want to come here, live here, work here and they want to invest in new york city and theres a variety from studios to two bedrooms to families that are growing. We have different sorts of buyers and sellers in this environment. You answered both of my questions. Thank you very much. Thank you so much. Youre very welcome. Still ahead, betting on a travel turnaround. Marriott hilton getting an upgrade from barclays saying the business will surge in 2021. You can see airlines under pressure american looking to raise 3. 5 billion to stay afloat wl vellheetails yeah yyeah yeah hey, hey snhu lets you transfer up to 90 credits [announcer] if youve tried college but never finished, toward your bachelors degree. [woman] it doesnt matter how old you are, you can do it. You can finish. [announcer] finish your degree at snhu. Edu. Woi felt completely helpless. Hed online. My entire career and business were in jeopardy. I called reputation defender. Vo take control of your online reputation. Get your free reputation report card at reputationdefender. Com. Find out your online reputation today and let the experts help you repair it. Woman they were able to restore my good name. Vo visit reputationdefender. Com or call 18778668555. An extra 15 percent credit on car and motorcycle policies . Ok . Thats 15 percent on top of what geico could already save you. 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What do we know on the where are we on the state of the airlines requiring and not just requesting patients to use them. Almost all of them having required it. Now having said that, if somebody is in flight and they take off their mask, theyre not going to be diverted somewhere and when they land, the airlines say, do you know what, were going to put that by your name that in the future maybe you can put it to somebody else. Interesting. Thank you very much shes following another group of travel stocks. Tyler thats right. Now according to sdr, and Michael Binger of gradient investors. What is interesting is while demand for hotels is improving were nowhere near the levels we were at prior to covid19. So is it too early to buy into these hotel operators. I dont think so youre really betting the economy will turn to normal and folks will start to travel again. I will agree on the premis if things arent beginning to normalize. Restaurant, retail, even traffic on the freeway we dont own Hilton Marriott and we will be valuing a hoteland resort Company CalledWyndham Destinations they serve Middle America and have 220 resorts globally and most importantly these are more resorts. We think that area will come back first they are truly it truly is a destination. 30 upside has the strong dividend yield and the ceo is recently buying stock himself in may. So we like the company the caveat being if the economy doesnt recover, vacations are cancelled. Consumers hunker down. Thats the risk right here. Thats an important risk to highlight. Taking a look at the stocks, which would you rather own really neither of them. That recovery isnt reflecting in the charge just yet i wouldnt say its not the tactical sell that they were a couple of weeks go head to our website or follow us on twitter for more analysis. Thank you very much well, the dow is shaking off an early 200 point loss rising about 100 points right now apple and walmart are among the stocks leading the index higher. We have the latest today well talk to the analyst that upgraded walmart as well plus were recognizing excellence in investing. Bill stromberg and well talk to him after this break usaa was made for right now. And right now, is a time for action. So, for a second time were giving members a credit on their auto insurance. Because its the right thing to do. Were also giving Payment Relief options to eligible members so they can take care of things like groceries before they worry about their insurance or credit card bills. Right now is the time to take care of what matters most. Like weve done together, so many times before. Disco