They have a plan to remake america, im going to go in depth with the fascinating story of one familys efforts to escape socialism. Its a cautionary tale for your family. All that and so much more on making money. Charles one hour to go before the closing bell. It looks like it is a story thats interesting because before the open, it looked like it was going to be a down day for the market, right . The tenyear yield was breaking down bigtime. Anxieties about a slowing economy of course were being talked up. The coronavirus cases continue to mount up. Drug Company Gilead reported more success with its covid19 treatment remdesivir that immediately turned things around. Potential vaccines. Even with cases rising each day, elected officials making judgments, i think the factor has not factored in the notion that the states will ever go back to fully locking down. It looks like the market sees two choices, treatment or vaccine or over time herd immunity. Thats keeping a floor under this market. I want to bring in our guest, rob luna. We know about the federal reserve, all the work theyve done and might do, despite the fact that we have seen hot spots, i think the markets believe there wont be a National Lockdown and were going to get a vaccine or herd immunity, whether you believe it or not, thats helping the market hold up thats exactly what it is, charles. Like you said, the fed is continuing to be accommodative here. When you look at the ten year we saw it breaking down this morning. Investors arent getting anything there, and i think whats interesting youre starting to see as we got that information out of gilead, were seeing that reopening trade. Look at these laggards. Your know the dividend aristocrat index down 11 year to date, charles. Nasdaq up 20 something percent. 30 differential this morning. Thats where i put my money in the names like pfizer, a name like cocacola, some of those big dividend stocks. Thats where the money is moving today, and i think youve got to pay that balance. The question is how long does that last . How long does money flow in there . Or are we going to be right back to the zooms tomorrow . Charles i like your thinking. If the markets open tomorrow, i would be playing it as well, rob. I do want to say were going to talk about the reemergence perhaps of the value trade. In the meantime, lets talk about these high fliers because this morning, citi raised its target on amazon. Now they are 3550 from 2700. Rosenblatt saying 500 from 400 thats the highest on the street so far. Goldman raising target on netflix from 670 to 540. Obviously wall street is still chasing these names. Yeah because wall street telling everyone like goldman saying sit on cash month month and a half ago, now the names have popped, 30, 40 percent, the names you have been talking about all of a sudden they are on the bandwagon. I would be a little cautious like nvidia, that surpassed the market cap of intel today. We have seen that in the past. That happened before with some of the names like texas instruments, qualcomm. We have seen what happened there. Thats a commodity. Netflix a little bit scary here. Amazon though i think look charles i have been talking about this stock for years on any pullback, youve got to get into a name like that. But right here you might want to sit on your hands for a minute. Charles the second half of the year, its early but a couple weeks into it is different than the first six months. I think one of the things is that the broad market is still marking time really waiting for clarity out of washington, d. C. About this next round of stimulus. Im going to go on the record. I think it will be about 1. 5 trillion dollars, especially when you see the recent increases of folks who are getting pandemic Unemployment Benefits. Mean were talking about independent contractors, normally shut out of the regular unemployment process. How big does it need to be to get wall street excited . It played a role in the rally. Pence was talking something about a trillion. I think your number is probably more in line. Right about 2 trillion right now. Like you said, look, the government here in california we have talked about this before, putting restrictions on businesses. As long as the government continues to keep people locked down, theyre going to have to accept up, and step up, i think 1 trillion that pence is talking about is not enough, i think 1. 5 and maybe eventually approaching 2. It needs to be more targeted this time. I had clients who said they couldnt get people back to work because theyre making more in unemployment. Lets be a little bit smarter about it. Charles real quick, less than a minute, though. We talked about the special purpose acquisition companies. Individual investors, millennial investors love them. They have been rocking, a couple of new names, spaq up there, lca in the mix, do you like any of these names even for a trade . Yeah, i mean, look we talked about trading maybe for a trade, you might want to play that, look at the technicals but longterm you tend to see these get popular at tops of markets when theres a lot of liquidity. I think thats where it is right now. I personally stay clear of those, but if you want to take them for a trade, look at the technicals on those. Charles i like the idea of buying blue chip names, fat dividends, good risk reward. Have a great weekend. You too. Charles breaking news. More fallout for tiktok in a memo amazon telling employees to remove the video sharing app from their mobile devices immediately over quote security risk. If they dont, employees will not be able to access their amazon email. Now, earlier in the morning, expert video game player social media superstar tyler ninja blevin said he would delete tiktok from his account also over security concerns. Stunning revelation for you, the Roman Catholic church received at least 1. 4 billion dollars in taxpayer backed ppp loans, an analysis from ap. They actually say that the church could eventually total more than 3. 5 billion dollars. Thats something that we have been warned about. A congressman is joining us now. When we heard about 1. 4 billion [inaudible] you kind of said i told you so. I think this is short of shocking. Sort of shocking. Maybe the Roman Catholic church got 3 1 2 billion dollars. Kanye west got a lot of money. Rock bands got money. Still im saying to you, i think it is a mistake if congress waits too long for that next round. Dont leave out the congressmen. They got money. The Democratic Party in ohio got money. Planned parenthood got money. It is a long list of people who got money. I dont think we should do another stimulus slash bailout. Look, kentucky unemployment is at 47 right now, 47 . How do you have a v shaped recovery if you keep paying people to stay home . So i think it is dangerous. Charles yesterday we got initial jobless claims and kind of lost in there is this new claim, right, the pandemic Unemployment Benefits, and over the last five weeks, they have really started to climb. Were talking about 14 Million People have pandemic unemployment assistance. The numbers climbing. It is climbing in states that we have seen a reemergence of coronavirus, at least higher case loads. I just dont know that you can have over 30 million americans getting some form of Unemployment Benefits and say we should put another jolt into the economy. I agree, you dont want to pay 600 bucks on top of this for people to stay at home, but theres got to be something that nudges the economy back in the right direction, or do you think were on pace to do it already . I think its were in big trouble if we spend another trillion dollars. Look, thats going straight on to the debt, and if some day we pay 5 on a trillion dollars, thats 50 billion dollars a year from here to eternity. Thats the whole highway trust fund. You say congressman we dont pay 5 , we pay 2 1 2 for the federal government, okay 2 1 2 interest on a trillion dollars debt is the whole nasa budget, 25 billion from here to e earnty. Eternity. This is a problem of spending another trillion dollars. I dont think we should do it. If we spend 600 every two weeks for people to stay home, the democrats would love that. They want the economy shut down till november. I think it is bad for the economy and republican reelections and bad for our children and grandchildren because of the interest just the interest alone on this let alone 3,000 in principle for every man, woman and child is what a trillion dollars is. Charles right. This week we saw i think a 30year bond with almost nothing in interest. They sold 29 billion of those. On thursday i think they sold 30 billion of those tenyear bonds. Theres like maybe half a percent interest on that. Corporations have raised trillions of dollars of these low Interest Rates. Does it make any sense for the u. S. Government to take advantage of them as well if applied properly to try to again spark the economy . Im with you about the future, but weve got to live today as well. Right. Thats a great interest rate. You know, thats how much we pay the Social Security trust fund when we take money out of there to float these exorbitant bills. So, you know, low Interest Rates are good in a certain part of the economy, but for seniors and Pension Funds and retirements, when theyre only getting half a percent on those bonds, thats why theyre going bankrupt. Charles all right. Congressman, you stick to your principles and your guns. Thats why im glad you came on to talk about the other side of this. Thank you very much, sir. Have a great weekend. Thanks, charles, you too. Charles hey, im settling an argument once and for all. While capitalism could use some tweaks, i would never argue that. It will always better for humanity than socialism. A ceo compliments President Trump and the left loses its mind, but his response to the boycott calls is why im calling him one of my winners of the week. Find out who else made the cut. We will be right back. Vin, did o is now offering an extra 15 percent credit on car and motorcycle policies . Ok . Thats 15 percent on top of what geico could already save you. So what are you waiting for . Dj khaled to be your motivational coach . Yo devin remember to brush in a circle motion. Thank you. Dj. Khaled. Tiny circles, devin. Do another one. Another one. Is this good . Put in that work, devin. Dont give up. Geico. Save an extra 15 when you switch by october 7th. Save an extra 15 yeah. This movingtch thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Charles former Vice President and Presumptive Democratic president ial nominee biden releasing two plans to the public yesterday. One was a 15 page America First like initiatives that were not impressive or even new. Sort of like checking a box without any real thought or imagination. Now biden talked about higher taxes and took a shot at amazon saying that that company does not pay any taxes. The company does pay taxes but more importantly they generate Economic Opportunities for a lot of americans and the ability for people to buy and sell goods on their platform has been an economic boom to many many folks, also the number of jobs at amazon is limp amazing. Is simply amazing. Maybe joe biden thinks theres 17,000 employees like there was in 07, but now the company has 798,000 workers and theres no way they could created those jobs with the punitive tax and redistribution plans biden has in mind. Business investment, last year amazon, microsoft, cookle invest googed invested almost 74 billion dollars in capital expenditures. Google. Finally, the thing is, big businesses already taking the notion of a stake holder approach to business. They outlined it last year at the business roundtable. Now my concern is the left will take common sense adjustments to a system based on profits at any price to one based on no profits at all but redistribution. In other words, socialism. He will not use those words but the second plan biden released yesterday was 110 pages of changes designed to appease Bernie Sanders and the aoc crowd. It is amazing to me with all the historic example of socialism failing it continues to be romanticized in this country to the point it will be a major part of the democrat platform in november. Last night my wife and i watched a movie called balloon, a german movie about a familys attempt to escape east jgermany in 1979. They failed the first time. It became a race against the clock for a second successful attempt. After the credits rolled, i was curious about whatever happened to them, i discovered once the wall came down about a decade later, they returned to the same home they fled. The moral of the story is that socialism crushed the spirits and dreams of working people to the point where they actually risked their lives of their own children to escape the country that they otherwise obviously loved. Joe bidens misguided promises will with the far left compromises with the far left taking him further away from where most americans are on these critical issues. Also coming up folks, the ceo of goya dared to praise President Trump amid backlash and well its swift and severe. We have got the details on the cancelled goya movement right after the break. Sarah for a while ive had like a, kind of negative self image. There was like this contrast between like the way that i was thinking about my personality and the way that i was thinking about my body. With noom, i was able to learn how to interrupt those habits and create new ones. So my goal was 35 pounds and ive lost about 30 pounds now. So. Ive never been this confident in my body. My name is sara and i changed my life with noom. Visit noom. Com and lose the weight for good. Charles former Vice President joe biden making a risky shift on his police stance saying that some funding should, quote, absolutely be redirected amid calls from some in his party to actually defund the police. His campaign has said that in the past he does not support that. Want to bring in a spokeswoman Liz Harrington for more. Liz, the last couple of days it feels like joe biden is trying to parse words, and hes got obviously a track record on things, but hes trying to appease the Bernie Sanders aoc wing, and i dont know, its a pretty tough needle to thread. Well, joe biden and nancy pelosi are unable and unwilling to denounce the radical left wing mob because its their voter base and just like nancy pelosi says people will do what they do when they tear down statues of abolitionists in ang angry mob joe biden says yes we will defund the police. Whats happening in new york city right now, same with the central plan they put out yesterday in Bernie Sanders eliminating cash bail look at the crimes in new york city, up 130 from last year thats what you get with the democrat policies and joe biden has shown he has embraced this lawlessness and will allow it to continue if he ever gets into the white hi house. Charles and you know, weve known politics sometimes people appease the far side of their party and then try to go back to the middle. On this police issue, in particular, a pew poll showing that most people want Police Funding to stay where it is or actually to increase, not decrease, certainly not to be defunded. I think hes going down a very dangerous path here. Absolutely, and hes shown that hes not going to the middle whatsoever. This so called unity plan where joe biden yesterday said that hes united the party, well the Democrat Party has united behind socialism. It is a central plan that makes clear that democrats, they dont just want to cancel your free speech, they want to cancel your tax cut. They want to cancel your kids School Choice voucher. They want to cancel your private healthcare plan, cancel your safety, cancel the American Dream and cancel the v shaped recovery under President Trump thats already underway. It would absolutely destroy opportunity in this country, and its just a completely radical plan that would fundamentally transform the country like joe biden promised. Charles you know whats interesting of course is he had a 15 page economic plan and then his plan with these policies that he had with biden was 110 pages, you mentioned unity, unity within the Democratic Party, not within the nation, because bernie gave him a pretty good run for the money. You mentioned other areas, healthcare, climate change, education, immigration, i mean, hes talking about some dramatic reversals not just of President Trumps policies but on things that weve kind of done in this country for a long time. It is so radical it would remove our borders, completely open borders, make the entire nation a sanctuary country. Again, it eliminates cash bail which we have seen the devastating outcomes in these democrat run cities. There would be absolutely mayhem and there would be no opportunity, and theyve taken what Ocasio CortezsGreen New Deal that she introduced, theyre retrofitting on the buildings, they removed the references to the farting cows. Thats the only difference. Charles yeah i read something this week that the Green New Deal meets the swamp and it got more menacing, like godzilla getting a jolt of radiation. Liz, thank you very much, have a great weekend. You too. Charles goya foods facing swift backlash after the ceo praised President Trump at a white house event yesterday, hashtags calling for boycott are now trending on social media. G