To november. U. S. Jobless claims. Below a million First Time Since the lockdown started. Blowing away optimistic expectations from housing, manufacturing, employment. The s p with alltime high. It would be monumental. I have two of the best Money Managers who will share your thoughts as well. Why are cities deliberately regressing into more dangerous havens of fear and hopelessness . The Economic Impact on people will last for a generation. Well have the latest. I will talk about this with gianno caldwell. I have my take. Well get his as well. All that and more on making money. Charles all right the economy continues to show strong signs of coming back with more evidence coming today. A huge drop in jobless names. Rise in Home Mortgage applications. Here is the breaking news for you, folks. Initial jobless claims are down 228,000. Continuing claims down 604,000. Pandemic assistance down 167,000. This is delayed. As of two weeks ago we had three million fewer people on total unemployment claims. That is a huge number heading in the right direction. These numbers have been persistently coming in substantially better than what experts expect. The economy is in precarious state. Caused by a Global Pandemic that shut down the nation. We have a lot of doubt an fears. The media and president ial rivals suggested this policies brought the recent pain. President trump on mornings with maria had this to say about the recovery. Take a listen. President trump we had the best employment numbers we ever had. We had the best numbers we ever had. Weve had the best stock market numbers we ever had. Looks like it will be supplanted what we have now. Now were rebuilding it. It is going up like a v, like a rocket. Charles here is the problem, folks. I think President Trump is making a huge mistake not pounding on this hard enough, all the monumental achievements precoronavirus. I want to speak to rnc chairman liz harrington. Liz, a lot of me over the last couple weeks President Trump talked about. We know he can compartmentalize a lot of things and shift gears. I want to know why the number one thing the administration is pushing back on . This is the most critical topic in addition to saving lives with the crone cone . The president is absolutely laser focused on the economy. Showed those Amazing Charts yesterday. That is not just a v. That is a super v. Whether it is manufacturing or housing or jobs or the auto industry. But it is also very important to point out that the other party speaking of cars, they want to ban cars. They want, radical green new deal. The radical democrats, joe biden just put the most liberal senator in the United States senate, a cosponsor, original cosponsor of socialized medicine, Bernie Sanderss plan, initial cosponsor of aocs government take over of everything else. So it is very important to show that contrast, that yes, this vshaped recovery is humming. But guess what . If that all goes away, if the democrats take power. We have to reject that. And their trillions of dollars in tax hikes. Their absolute destruction of the u. S. Economy that comes with it. Charles what im saying, liz, those charts. I saw them yesterday. I cheered. I put those kind of charts in my show every day. Im a real crazy person when it comes to this sort of data. I dig into it. I would like to Share Positive good news, to your point, the media does not do that. That also underscores what im saying. When i hear Vice President biden and senator harris saying that this economy is the result of President Trumps failed policies, if they say that enough, and media regurgitates it enough, i think it will be difficult for him to get reelected. There has to be a counter to that . Absolutely. We are countering it. Charles, youre not crazy. You just like good news. You like americans to succeed, which is very telling i think about joe biden and kamala harris. You know what was not mentioned in their announcement yesterday . China. That really says it all. They dont want to put the blame where this solely lies, communist regime coverup. Not just affected america, affected the entire world. Instead of coming together, focusing where the blame should be, instead of offering a helping hand, how can we find solutions, President Trump has been in washington the whole time. He has been getting the private sector mobilized. He has been providing the democrat governors with everything they needed. Governor cuomo didnt even use the uss comfort. Biden and harris using the American People and our lives as a number to wield against the president. It is grotesque. That is really telling because they dont have anything else to offer. They dont have anything else to run on, except a radical agenda that wouldnt solve any of the problems. President trump is delivering real results. Beating china on so many fronts. He is also winning in this economy. Charles right. Listen, i dont, i think the democratic ticket will be more focused on running against trump, than running for what they are for, which is sort of confusing and convoluted these days what we heard months ago and what were hearing now. I want to get back to wages, these bluecollar wages. I think that is the number one area that the administration should be focused on. They were 3. 7 when president obama and biden came into office. When they left it was 2. 3 growth yearoveryear. It wasnt keeping up with inflation. The policies, progrowth policies under President Trump, liz sent numbers back up 3. 7 , ahead of inflation, ahead of everyone else. That is the key. Let people know. We can resume the growth that was interrupted. What do you think . Youre absolutely right. You know, this vshaped recovery is only possible because of what joe biden and barack obama said was impossible. They said those jobs were never coming back. Five years into their socalled recovery, wages werent rising by a single penny. President trump came in. Delivered reallies tore rick results. Historic lows in unemployment. He got trade deals. Usmca just went into effect a month ago. Nobody is talk about how that will propel us into the future. Joe biden and barack obama said this was impossible. They were wrong. They said that the new normal would be 2 growth and high unemployment. That was the new normal for democrat administrations. Charles nobody else is talking about it. Nobody else will. So the campaign better figure out ways to get that message out over and over again. We will. I say one thing. Always rely on the facts. That is the bottom line. Thank you very much. Always great seeing you. S p 500 on the cusp of alltime highs. Nasdaq on the track for another record close. We now need the dow to break out. How does this, what does it mean for me . Fitzgerald Group PrincipalKeith Fitzgerald and nicholas wealth management, david nicholas. Keith fitz gerald, the s p is right there. I think if we break out buying will drinkinger more buying. You think there will be a different reaction, celebration and profittaking . I do and heres why. I think it will be a short sharp burst of profittaking because many of the hedge funds, new york institutions are talking a good game right now, charles. In fact missed out on much of this rally. They have to get a few names on the table when they come into bonus season for windowdressing t will be short, sharp, take off and real buying begin into the elections. Charles david, s p 500 closes at a new alltime high. Whats next . Somewhat disagree with keith there. I think were heading that way if we break above the 3386 number, break above and close there. I think it its horses right to the races. I think markets will head up. Think it is fear of missing out at this point. I think it well take a lot of money out of the sidelines f we break through that close above it, a very bullish signal. I think we see the trend continue. Charles fear of missing out. The train is leaving the station. We could go on and on. Im more with you than keith on this but keith did bring up an interesting point. Coming into the session there was a lot of cheering about rotation finally happening from growth to value. List of 223 names with s p into the green for the year. I had high left level of all of 2020. Tables started turning. Folks rushed back into the safety and comfort of the growth names. Hence the big movement in nasdaq today. You are are sticking with them. Stick with the best. No matter what, stick with the growth names. Absolutely. Best, not rest. Those are the names, those are the companies that are digitizing your life. If you look at history, it moves in broad trends that are driven by the dominant change in society right now that is the digitization of your lifespan . That is the five and 10 years from now . That is why the money is going back, it is liquid, solid, company ceos know what theyre doing. I am in it to win it with those companies. Charles david, ive been overweight industrials and materials. But i never sold the growth names either. How do you think investors should be situated here . I like a 50 50 approach. I agree with keith there, i think 50 of your portfolio should be in the large cap, quality Balance Sheet tech names. Those will outperform the next three to five years. I would like 50 of the portfolio be in value slash recovery names. My bet son the u. S. Consumer. I like a name like big lots and dollar tree. I talked about financials. I think citigroup is a good buy here. I like homebuilders. Consumer will be poised to come back strong, once the elections get out of the way. I think well see a Fourth Quarter that really looks good. That bodes well for some value names. Charles i want to talk about the bond market. We dont talk about a lot. Yields started rising on the 10year. The curve is very strong. Suggesting the economy is strong. Is it possible, keith we get both growth and value up if we get enough money out of bonds . I think the answer is yes. In todays point you have to have this book end approach. You have to be tech driven on one side. Value driven, however you want to split it. Money constant constantly will pingpong. If it is coming out bonds, the money will go into stocks. So i think well get both on the run. Charles david, as much as i hear experts come on tv so long, talk about the socalled tina trade, billions of dollars go into bond funds and billions of dollars come out of equity funds. If we can get the ratio turned around, what could that mean for the market . I think it will be huge, charles. I think bond market is very telling, see what yields have done this week. The vaccine news out of russia played a part. You cant put a lot of weight on that. We defeated nazis, communists, terrorists, now covid, well defeat this as well. I think what the bond market is telling us, look, the outlook for this is probably going to be better than expected. I think there is an issue there. I think you have to look at prices as well. I think were starting to see some inflation. I think as we see the two combine, the hope, possibly some inflation with wages and individuals getting back to work, that is where i think you will see bonds perform poorer. The narrative will move with equities. Charles lets hope so. Im greedy. I want this rally to continue for a little bit of time, like three, four, five more years. Keith, david, thank you very much. Appreciate it. By the way you remember the cds were beacon of everyone as opportunities and everyones hope and dreams . Now theyre regressing into dangerous havens of fear and hopelessness. At 2 25 i get reaction from Giano Caldwell on that. The white house told us the cares act what it has done but how close are we to an economy that will really stumble if lawmakers do not get their act together . I say they must pass more stimulus and do it now. Well be right back i wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles well the Trump Administration just releasing a long list of benefits achieve from cares act and ppp. 42 of layoffs temporary. Business foreclosures under 16 . Unemployment down to 10 with predictions more than 19 . Disposable income more than 5 since february. Loan delinquency rates falling down to half a percent. I think economy needs one more booster shot. I think the rally will stumble if conventional wisdom shifts if there is not a deal. The market is up due to the negotiation impasse, and that is in large part a deal will happen. Much better Economic Data will help the rally. However, you know what . You think about how greatly the shift in fiscal, Monetary Policy helped even the Economic News that were getting. Politicians that point to our economic improvements as if it would have happened without any of this aid could be suspended at its current levels are not being honest with themselves. More than likely theyre not up for reelection anytime soon. I want to bring in someone who is always on top of this. President of walser wealth management. Rebecca walser. Rebecca, i love my republican officials on, i would love to get more democrats, i would love to get more lawmakers in the tense times. Most tell me, look at the data. I look at the data for a living but i know a large part of this is the swiftness that the Federal Reserve acted. The swiftness the federal government acted f they think they can take a victory lap and not add anymore stimulus to this im concerned . Yeah, charles, there is absolutely no doubt. If it ends up being we did the recovery and go back to normal cycle whatever works out happens, it is the shortest recession in the history of our country. That did not happen and it is so not normal and only as a result of the cares act and Federal Reserve and Monetary Policy what they did and shoring up our capital markets. So youre absolutely right this is totally necessarily so, right, charles . We needed this. We definitely would have been something looking along the lines of the Great Depression when you shut down the businesses and 40 something Million People go on to unemployment but yet were not out of the woods. I totally agree with you. Weve got to get a plan to get out of the woods. Charles what would you, what would you, what would your plan look like rebecca . What are the main points you would be focused on if you could have any part in the negotiation . I would look forward, charles, i want coronavirus Economic Task force. I want a plan b. Everybody is pinning their hopes on the vaccine and unless people rush to get vaccine we dont know there will be a vaccine. Everybody is talking about end. Year, beginning first next year but we just dont know. The recovery on a vaccine we dont know the date, we need a Coronavirus Recovery Task force, charles. Lets get that going. What is our plan b . We cannot put everything on a vaccine. We cannot put our lives on hold, charles. Without continuous and massive government stimulus, if we do not reopen businesses, if we do not go back to the movies, do not go to the sporting events, do not go out to eat, 70 of the economy is consumer driven, were not spending dollars, staying at home and ordering uber eats. We have to get back out there. Lets get back to our lives. Where is the Economic Task force that is going to figure out if there is no plan a for another yearandahalf, whats plan b . Charles i think the problem, you know with an Economic Task force from washington, d. C. ,s point of view this has all been politically driven for the most part. We know the 3. 5 trillion that democrats wanted was a disingenuous start. I think mnuchin is saying 70 of what you were making was also too far on the opposite end. And again, what im saying is, in february i would have been completely against any additional funds for unemployment because we had seven million jobs with only five million unemployed. That has been completely flipped, rebecca. We have 6 million jobs with 13 million unemployed. I am concerned that even if we open the economy tomorrow there will still take some time to get everyone back on their feet. That is the tricky part, how do we help those folks . We got 30 seconds. Your final thought. Do you think that there will be some sort of a last minute deal cobbled together . Yeah. I mean, charles, President Trump wants to get reelected. He ran the economy, one of the best, went through all the lists before this segment how great his record was, how great the economy was growing before this happened. We need economic stimulus until we get a plan for the economy to reopen. That is the bottom line. We cant stay closed and think the economy will not crash until we preopen. Charles President Trump is only one ready to sign something. We got to get congress to figure it out first. Rebecca, like your new backslash there. Classy look. Talk to you again real soon. Thank you, charles. Charles chicagos Small Business owners are grappling with what their next step is going to be in the midst of this horrific rise in violent looting. Well go on the ground in the citys magnificent mile to have a discussion with them. 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