And so much more, on making money. So folks as we end the week the big investment theme is the retreat and big growth names those mega tech stocks that have been on fire for a long time, profit taking was sparked by concerns over the quality of teslas earnings, of course it came from selling those tax credits and slower cloud growth microsoft, and the smooth sailing has run into an air pocket and now these pockets though, theyve been great entry points in the past and the question now is will history repeat itself. Joining me, ubs private Wealth Management senior portfolio manager, katarina simoon it, and let me start with you, overall, the sense that we see these names and i guess investors have become accustomed to them being up every day. Why now . Why are they beginning to stumble . Im talking bigger tech names and the larger growth names. Of course, and charles, thank you for having me on the show. Well tech certainly has been an exciting sector to watch over the last couple of weeks, for really since the beginning of the covid crisis and if we look at the long term, we cant ignore the fact that the growth in the tech sector is reflective of the structural changes that were already in place before the situation began, and what we see right now is theyre amplified by the stayathome narrative and by the Current Situation that we find ourselves in and in the tax sector this change is happening faster but this being a market, not all tech is created equal and more important than ever for investors is to really be selective with what Tech Companies they go with and to try not to get overly excited by the growth. Charles you know, i love days like this , to your point, im taking notes on the big growth names that are up. Amazon is up, nvidia is up, netflix has turned around. For me, these are the kind of days that give me an opportunity to your point maybe to find out which names are more vulnerable than others and scott, i know that you have not necessarily been as big on tech recently, but this move here, what can we attribute it to or could it be a deal oral of the above . Its probably charles id add over evaluation to those names. They just got too far too fast. It felt like 1999 on some of these days when tech would just rocket towards the moon and they just come down. I think people profit take and i think investors also reasonably look ahead to a couple big earnings weeks coming up in tech land and figure hey some of the easy money has been made and i agree with them and youre right charles. We still own tech because we got into these names that is much much lower and we still like them but gosh in a market like these my friend youve got to find value and thats where its best expressed in your portfolio and thats why some of the travel stocks as you know and the banks as well. Charles and i want to touch on that because when ive talked about this rotation out of caltech its going to look pretty on the surface because these names, folks are so heavily weighted in the major indices that one of two of them be down and it would mask a whole lot of other stocks up but it should not stop investors from seeking the opportunities and on that note, katarina i want to mention earlier in the year, you were cautiously optimistic about value outside of these names, do you still feel that way . Absolutely. I think that cautiously optimistic be the right way of putting it, because we have so many factors affecting this market right now, were really looking at three major themes, we look at Central Banks liquidity, its an Election Year , and of course, covid and right now, were dealing with a second wave as the reality and vaccine is not ready yet so a number of factors are affecting the market, but having said that , with the slow and gradual reopening of the economy, we also see the pickup in the Consumer Spending and overall in consumer optimism, and further Consumer Spending and then productivity as all of that folds in place within the next six months with the presence of the vaccine, we should have some positive results. Charles real quick on that note , scott, you mentioned the travel names. I look at the covid stuff. Arizona cases came in almost 2,000 less than just two weeks ago. Floridas cases may have peaked on july 12, hospitalization is starting to moderate. Is that whats going to really propel both names that you like, of like those travel names . Yeah i think so charles and frankly the states that handled the reopenings maybe a little bit better are the ones further along ahead of the curve will continue to propagate higher prices so if you look at them versus the s p theyre still trailing huge. You look at expedia which is a name i like, Southwest Airlines which i absolutely dare i say love luv is the ticker, those are areas where you can catch up on those trades that come through in travel. Charles well bookings having a good day, expedia got an upgrade so well love it together. Speaking of love, Goldman Sachs finally agreed to pay almost 4 billion to malaysia to settle that scandal thats been haunting them for a while. Wall street applauded the move this morning. I want to ask you about this , katarina because a lot of our guests love the financials but the financials dont move and at some point, Goldman Sachs, jpmorgan, the financial index, its one of those oversold or undervalued areas but it doesnt take off. Well it will be safe to say that financials dont love them back, and we have to, you know, when we look at the Financial Sector, the most important thing to consider is that this crisis is not, its very different from 2008 crisis. This is not a financial crisis so when we look at banks, banks are well positioned from the capitalization perspective but at the same time, in the zero rate environment, when it comes to the productivity and profitability of the banks, you know, its going to take some time. Having said that we believe that banks and just generally Financial Sector belongs in any investment portfolio. Charles wow okay, maybe one day itll work out. All right were in the middle of earning season, folks, overnight and this morning almost all of them beat the street. This is when we find out what we want to buy. So far, this earnings season scott, has anything jumped out at you . Has there been a new name or name that wow that was an Earnings Report and i have to start to watch it closely. Well look theres a handful of them i dont know if its all good news charles, intel is one today that looks like its overdone on the downside, tesla which we talked about last week and youve talked about all week i think was interesting in the aspect that ive got a massive short squeeze in there also really nice encouraging things going on so a lot of these earnings moves as an investor if you dont own these companies yet youve got to look at price and when you see prices really get overdone, lets say to the upside or over sold, to the downside i think those are opportunities to either trim as weve done or say add like weve done to intel here. Charles okay. Well and ive got to wrap this up, katarina its great meeting you, you were fantastic and scott we got to give you a shout out, my man. Gold cracking 1,900 today, you know, amid some gold, not as much as you we got into silver i want your thoughts on that next time we talk in the meantime have a great weekend to both of you. Folks i want to share a little bit of my knowledge if you will. On july 9 i featured Advanced Micro Devices for aggressive traders in my Subscription Service and i really wanted to share the reasoning for that today because i think it offers two tid bits for traders. First inter day price action, on june 29, amd, the shares actually were under pressure one point down almost over 3 almost 2. It was 48. 42 a share, right in the middle of the day. The stock turned around and it closed higher fractionally over 50 a share. You know, those are the kind of intraday reversals that grab my attention, out of stock to my watch list and i began to watch it and watch this by the way. I update every single session. You should as well. The second sign for me was volume, on july 9 i decided to make my move as the stock jumped out of the gate on the huge volume near a key breakout point that it held in april and june. That session of stock traded 87 million shares that was 52 million shares more than the day before. This week the stock traded 135 million shares on wednesday, and it rallied more than 8 and now there was product news but that kind of volume told me that maybe Something Else is going on and its fair to say it was probably something that was not yet in the news. After the close, scott just mentioned it. Intel dropped a bomb about a product delay even talking about a listing outside foundries to help them which is something unheard from this tech giant so maybe theres a sense that somebody knew something a couple of days ago with that big volume what i know is that its hard for folks with real inside information to hide in treating chart moves its hard for them to hide their volume spikes and for those looking to trade this market make sure that you dig and keep a log, a daily log of these kind of moves and use it to inform and by the way its okay to be early because when the big news hits you want to just sit back and watch everyone else chase the stock. Today amd the number one stock in the entire s p 500. But big tech is under fire from all sides, from near record run. Well have a complete wrap up including the very latest on accusations that amazon stealing ideas from startups they claim to be helping. 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Charles the futures are up to 23 million families that rent nationwide are at risk as federal Eviction Moratorium ends today according to the covid19 Defense Project 32 of u. S. Households miss their payments this month, Jillian Turner is live at hud headquarters with the very latest from washington. Jillian hey charles so as you know, in just a few hours from now, the federal governments ban on evictions is slated to expire and imminently following that expiration about 20 million plus families are going to face the prospect of getting kicked out of their homes, renters and owners. The House Speaker says massive evictions will equal real disaster take a listen. Right now were in a situation where people will be evicted from their homes and they are starving. Theres Food Insecurity across america. Millions of children are hungry. These are Kitchen Table issues. Reporter now in the month of july as you mentioned 32 of u. S. Households in total missed their rent or mortgage payments democrats like Elizabeth Warren and Chuck Schumer say that is 100 the fault of republicans for failing to include Housing Assistance in the next round of coronavirus relief, but republican sources on capitol hill tell fox news not going to happen on their watch. They say mass scale evictions arent going to happen because President Trump is prioritizing them, moving forward as lawmakers hagel over the politics of this americans in major cities like la are bracing for the worse case scenario. Take a listen. In the numbers of unemployment is still not the same amount that it was before. My rent is about 30 of my income was before the pandemic. Reporter now, charles last hour , i spoke to our friend david asman. He made the great point that as americans are losing their homes others who are going to face eviction now are business owners, small and large, were working to dig down and get you some numbers on that charles and ill bring that to you as soon as possible. Charles all right, thank you very much, jillian, appreciate it by the way that brings us to the latest, well really the last minute squabble going on other another round of Economic Relief some are feeling like maybe theres some doubts congress can get this done certainly before these unemployment and other benefits expire at the end of the month. Unemployment insurance is certainly the key, the extra federal pay is the key to all of this republicans arguing over what dollar figure is enough to get by on. Of course you do not want to encourage people not to work, so the question is its a fine line , but will the gop come through . I want to bring in republican congressman jodie hice of georgia on this. Thanks for joining us, congressman hice. We were told earlier in the week that Mitch Mcconnell would have some sort of a plan late yesterday and we got a new slogan but not a plan. The clock is ticking how is it looking to you . The clock is ticking and all i can say at this point is there s a lot of negotiations that are underway both in the house and the senate, with the white house and everything is on the table. One of the issues obviously that you bring together is the unemployment. Weve got to be very careful that we dont incentivize people not to work and to stayathome so theres some discussion that perhaps 70 of a persons income be enough to help them through the rough times but also still keep them incentivized to get back to work, but at the end of the day weve got to spur the economy. Weve got to focus on having the opportunity for people to go back to work in every capacity including opening schools, and that of course is a major factor as well. Charles i want to read you a tweet i got yesterday. I was hosting neils show on fnc , and this is a woman all over her media page she says in tennessee the max for unemployment is 275 a week and without federal supplement, people will go under. Your state is 365 a week, and some of these swing states, michigan 362, florida 275, wisconsin 370, arizona 240. Are you saying to these folks then that they dont need more than that in an environment where not everyone can immediately go back to work . No im not saying that at all but i am saying that one shoe doesnt fit all across this country and from the studies that weve seen the 600 in addition from the federal puts about 70 of the people in this country making more staying at home than they would make at their standard job and so that becomes problematic as well when it comes to the attempt to try to reopen the economy. So one size fitting all does not work. Weve got to work through what does work. What does help people while at the same time, putting a wrench in the capacity for our Business Community to reopen. Charles so where do we go from here . Well get , i guess, more offer ing from Mitch Mcconnell earlier next week. Is there already some areas of compromise that you can share with us . I mean, im sure there must be something going on behind closed doors thats not really talked about. Yeah, right now everything is still on the table. Some of the things that i believe are extremely important that i know a number of people are pushing for are things like Liability Protection thats an extremely important issue. The payroll tax holiday, also a huge deal. Further regulation reform and so these type of things are all on the table. Things that i believe are extremely important to help reignite our economy and so right now, all these type of issues and im sure many more are on the table theres going to be a great deal of discussion and negotiating taking place over the weekend, but of course, all of this is going to expire at the end of the month, so the clock is ticking and were going to have to get a lot done. Charles yeah, i mean, listen the republicans, the white house , steven mnuchin, President Trump get an a plus plus plus for ac ting swiftly and decisively and congress was there with them, cannot fumble it here. You remember it was youre right at the goal line, sir, dont fumble it in. Please the American Public needs you. Have a great weekend, a productive weekend. Next, the doj launching an investigation into big tech as ceos are preparing for their day coming soon on the hill. Well have a live report right after the break. Tara, did you know geico is now offering an extra 15 credit on car and motorcycle policies . Wow. Ok thats 15 on top of what geico could already save you. So what are you waiting for . Idina menzel to sing your own theme song . Tara, tara, look at her go with a fresh cup of joe. Gettin down to work early following her dreams into taxidermy oh, its. Tax attorney. I read that wrong, oh yeeaaaah geico. Save an extra 15 percent when you switch by october 7th. Give it up for tara charles the doj readying their lawsuit against google aiming to file it by the end of the summer marking the largest antitrust lawsuit against big tech since microsoft nearly 20 years and now shares at google, facebook, amazon all dropping on the news Hillary Vaughn taking a look at the governments attempt to take down big tech then and now, hillary . Reporter charles whats interesting is the microsoft ordeal was essentially a decade long legal battle that cost taxpayers over 35 million, and people that are advising google were a part of that take down, and giving t