Transcripts For FBC Making Money With Charles Payne 20240712

FBC Making Money With Charles Payne July 12, 2024

Home. Dr. Nicole saphier will weigh in on that news. House Speaker Nancy Pelosi says she sell whoing firm in negotiations for stimulus to the american people. More proof that President Trump had to take matters into his own hands. Well hear from steve moore and congressman matt gaetz coming up. All that and more on making money. Charles well i think todays action coupled with yesterday reflects that the market is sensing continued improvement in the economy and also a belief that a vaccine happens sooner rather than later. Remember yesterday it was the travel stocks and Airline Stocks were rockin and socalled covid19 winners, they were hit hard. Part of this belief is being fueled by evidence. Take for instance the tsa travel data coming in at the highest level since late march. We had some false alarms this year on all the names. I want to bring in david nelson and Wealth Enhancement Group senior vp, nicole webb. Nicole, weve seen the travel stocks popped big, casino stocks and then they kind of came back to earth but this time feels like this is something more, there is more traction. Could we be seeing where the economy and learning how to live with covid19 is enough to get these stocks moving until we do get a vaccine . I think we are all, all of us, are ready to coexist with covid19. The enthusiasm is there. I think the jump back into travel, jump back into entertainment stocks, it makes sense. It shows rally behind pent why youup consumer demand. We could see consumer discretion nary spending. We saw rv sales go through the roof with covid. What does everybody need in the road trip . I heard in preparation for joining us, a little rumblings about airbnb looking for an ipo. In this time while we may not be ready to head back into hotels, were not heading into restaurants but were all looking for kitchens when we head back out to get out of the house. Charles nicole, remind you to tell me my rv store one day. It is pretty funny. David, consumers certainly stepped up to the plate. Weve seen that over and over again. They have been aided too by a lot of money sloshing around. You are seeing the data, whether it is yesterday, the jolts report came in with a million more jobs than wall street anticipated. Report after report, sector after sector, it feels like this economy is still in a vshaped recovery. That could pick up momentum obviously if we do get a vaccine. There is a fair amount of data to support what youre seeing in the market today. It is not just here in the United States. Pmi data outside the United States is above 50, a sign of expansion. Even some of the covid data is starting to improve. Seven Day Moving Average for new cases is starting to roll over on a national scale. For me the holy grail of factor analysis, that is starting to move north. Goldman raised a number on 2020 earnings up 115 to 130. The numbers in 2021 are starting to rise as well. Charles so funny you mentioned that, because another reason im pretty optimistic, this earnings season, remember coming into earnings it would be the worst ever . It was going to hurt the rally. A lot of pros on wall street said stay away. Turns out 188 companies in the s p 1500 offered higher guidance. The ratio of negative guidance to higher guidance is up. Up 700 from the normal ratio. How surprising to you, how consequential this earnings season been . By the way has it moved you at all . Have you made decisions based on it . Twofold. One on earnings front, still a bad number, down 34 yearoveryear. Charles im talking about the guidance. David, im talking about the guidance though. In the history of the market this has been the biggest turn around in guidance. It is. Charles stocks normally down 3 . Its a huge bump, granted. That i still have a lot of large cap secular growth names that helped protect me in the pandemic. But i had to sell a lot of those. I had to trim them down to make rooms for some other names. Industrials, key place to be. I dont care whether you shop at amazon or shop at walmart, somebody has to make it, somebody has to deliver it. That is the industrial sector. Very cyclical. Charles right. I am extremely overweight in the industrials, maybe too overweight. Nicole, let me go back to you on this whole thing this, whole earnings, guidance part of it, obviously has become more important than the numbers themselves. I think considering how opaque it was in the first quarter, where it was negative guidance or no guidance at all, Corporate America is more optimistic than folks out there understand or know. To your point, charles, a lot of guidance was based on bias, looking backwards, the underlying fear, having never been through this before. The resilience, durability, cash on sidelines. We saw a lot of companies pivot swiftly. That create this is positive Consumer Sentiment as well. Vshaped recovery going back to what you said before. Trajectory were on, it is creating this exuberance in the marketplace with pentup demand. I think it could be a really interesting august. Charles we havent talked about this a lot in the last few months but buying tech on weakness. Earlier today we saw a pretty nice reversal in tech. Brought the nasdaq into the plus column. It is waffling a little bit there is a report out earlier today that might have helped sparked a little bit of buying. Online shopping forecast to past last years total by october. David, i want to go back to you. Maybe not surprising i think overstock. Com, for instance, that stock made a 20 point reversal to the upside. Obviously there are names reacting to this. Its a massive move off the bottom for overstock. A little bit too rich for my blood, 444 times earnings. We understand the Amazon Effect f youre a row tailer out there you dont have a op line presence you will not survive a lot of people looking at big box retailers the place to be. I think you should avoid that. Stick with the names that got you through this, amazons, overstock, some of the others. Charles any on the call, any names or parts of that you liked . Obviously if were really buying more. If we made the transition from general merchandise being bought more online and re brickandmortar, what are other ways to take advantage of that . I think we need to look at the Ripple Effect much anything. I dont think we take the investors to move them direct too retail purchases. We can talk about the infrastructure around it as well. The distribution. The movements weve seen in the carrier space. In conjunction with that, thinking about things like the infrastructure around cell phone towers, cell phone usage, 5g, going to mobile, epay. There are some ways we both adopted and adapted to the covid environment and a lot of ways it is likely to stick around, long past some return to normal. There is a lot of ways to pick up exposure for this shift. Charles yeah. I love idea of the payments. These payments stocks have been on fire. Fintech has been on fire. Ive been in and out of American Tower and crown. Again they make the big towers that will ultimately get us that 5g. I like where youre going on there. I want to circle back to this earlier russia vaccine news. There is a chance we could get vaccine approval in america before the election. Now if that happened, i want to know two things, what would it mean for the markets, what would it mean for the political landscape, david nelson . Im not sure that enough time for to make a real big dent there. It would be certainly great news. I think ultimately the United States will probably come up with this i dont think it will be russia. With theyre doing right now looks like a phase one trial at this point. They certainly dont have the safety protocols we need but i think the message from the market and the message from americans is we want to go back to work. We got to go back to work. I dont care trillion dollar fiscal policy or three trillion or five trillion. That will not do it. America wants and needs to go back to work. Charles amen, my brother. Nicole, i give you the last word. Im right there with you. It is an impossibility for us to return to any semblance of normal until we have the ability to go back to work. Until we can safely put our kids back in schools. I think were moving closer and closer to that. To vaccinate people, well need a stronger, well need a stronger country name behind it. I dont think americans will feel confident taking a vaccine from russia or china. I think it will come here, from home. Charles yeah. I, i think you both are 100 right. I know im a hard pass, thats for sure. David, nicole, thank you both very much. Thank you. Charles speaking of Vladmir Putin he is claiming that russia has been victorious in the vaccine race but when are the dangers lurking behind that announcement . Dr. Nicole saphier will sound off on that next. There are millions of californians without a job. Why is that state focused on shutting down entire industry, awoke industry, a industry where millenials were feeding themselves . We have details later in the hour you doing okay . Yeah. This moving 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 folks, break out the confetti because russia has become the first country to approve the coronavirus vaccine. Of course the announcement has been met with a little bit of international skepticism in part because the vaccine has not been subjected to largescale testing. Ashley webster joins you with more. Ashley. Reporter just a little bit of speculation, charles, there is no doubt there is a lot more questions than answers about russias claim to have indeed developed the worlds first covid vaccine. Scientists very quick to point out the vaccine has yet to go through those crucial phase three trials where it would be administered to thousands of people. Instead, according to reports, this vaccine was approved after less than eight weeks of human trials. Doctors say that raises serious questions about health risks. Take a listen. You would have expected that any, any country or any Pharmaceutical Company that was doing vaccine trials would have announced their early trial results and would have given you a lot more information about the product and how it works and what its sideeffects may be before you would have announced it was approved. Reporter indeed critics also claim that russias push for a vaccine no doubt partly due to political pressure from the kremlin, putting National Pride ahead of sound protocols, basically wanting to portray russia as a global scientific force but russian president Vladmir Putin says that the vaccine works and said at todays announcement, quote, i know that it works quite effectively. It form as stable immunity, if you want to believe that. Putin also says one of his daughters has already taken the vaccine, and quote, now she feels well. She reported a temperature early on. Now the vaccine will be marketed as sputnik 5, honoring the worlds first satellite sputnik 1, launched by russia all the way back in 1957. Kremlin says largescale production could begin next month with mass vaccinations in october. Charles we should also point out that the russian vaccine is not among the World Health Organizations list of six vaccines that have indeed reached phase three Clinical Trials that involve much more widespread testing in humans. Just word of a vaccine today, you can see what impact it had on the markets. Charles it has had some impact although the market is lot smarter than that. I think the market senses someone has a ream vaccine, ashley, but it aint russia. Thanks my friend. Joining us fox news medical analyst, dr. Nicole saphier. Dr. Saphier, i think the idea here the world is really galloping ahead trying to get this vaccine, probably the greatest Drug Discovery effort in the history of mankind, isnt it . Lets go back all the way to the space race. Feel as little bit about that again but throughout time we have seen a lot of races trying to get hiv treatments and now coronavirus. I wouldnt necessarily get into a spaceship that was rushed i probably wouldnt take a vaccine that has only been used in 76 patients and hasnt even gone through phase three Clinical Trials. Very concerning, charles. Charles it is very concerning but i got to say also, some people have, for a long time said our process takes too long. Although, you know efficacy and other things obviously matter, dont they . Undoubtedly, charles, it historically taken a lot longer than even now. President trump since he taken office has done what he can to cut the bureaucrat i can red tape. When it comes to safety and efficacy were not cutting through the red tape. Thankfully we have the fda overseeing everything being done. The good news, charles, we have multiple vaccines going through phase three Clinical Trials right now. One in the United States. All being fully transparent with other nations unlike this russia vaccine we dont know hardly anything about but as i have said multiple times, charles, the vaccine isnt the end all, be all, we are dancing with this virus for a while. The good news were already seeing decreased case fatality rates because of the therapeutics and we are continuing to protect the vulnerable and protect those in nursing homes. For the second day in a row, charles, the United States as a nation is seeing a decline in cases. Charles right. I think only four states are seeing a rise. Of course now we should take this russian news with a grain of salt but there is a lot to be optimistic about as you talked about. One thing, Johnson Johnson says it will produce a billion doses of its vaccine, have that ready by end of the next year. It is one thing to have a vaccine. It is another to make sure it is ready to go. That is something very different right now than were seeing before. President trump with his operation warp speed is doing what he can. As theyre entering face three Clinical Trials. He is saying lets ramp up manufacturing. It is a little gutsy. Only 1 3 of those vaccines make it to face three will prove successful and be available for the general population but they dont want to skip a beat, charles. Hey, lets give it a shot. Well ramp up the production, if it works it will be available and be available as soon as possible. Charles all right. Doc, hey, always a pleasure to see you. Really appreciate it. This, were getting there. Thanks a lot. We always appreciate you especially during these periods. As we wait for a vaccine, a cheaper, lesser invasive coronavirus test could gain fda approval in just a matter of days. It is already gaining fans in the nba. Edward lawrence will explain. Edward. Reporter this is a group of researchers from the yale school of Public Health and they have created a spit test for the coronavirus. The fda is on the verge, as you said of approving this test. It is called saliva direct and when its approved it will be given basically free to any company or lab that wants to use it. The will only cost a dollar to 4 in order to institute the test going forward. Researchers say they want it to be widely available and help states reopen. The students partnered with the nba to perfect the test. An nba spokesperson said working with the nba to support research for Public Health is a league priority. Were encouraged by contribution much players, team, league staff are helping the larger fight against covid19 by advancing this new testing technology. Another benefit to this test is that people that give the test, it lowers their risk because there is no coughing or sneezing potential for it. Just listen to this. It is also more safe because if you dont, you know, have the risk of people starting to cough other sneeze, which can happen with you take the swab. This is simply, slowly like spitting or expelling saliva into a tube. So that is indeed less invasive, more safe. Reporter once you spit saliva into the tube, three hours later you find out if you have the coronavirus or not. Charles, did i mention theyre giving it away for free to any lab or company that wants it. These tests are sold on the market, or charged to insurance, anywhere from 20 to 200. Theyre looking one to four dollars for this one. Back to you. Charles wow, pretty good stuff. Edward, thank you very much. Meanwhile, folks the Dow Jones Industrial average on pace for its longest winning streak in 11 months. The s p, were this close to an alltime record. The great news is big wall street experts well they have missed this rally. In fact they have been dissing it all along but they will have to play catchup. Meanwhile millenials are rocking. Coming up real stock ideas from millenial traders. 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