Transcripts For FBC Making Money With Charles Payne 20240712

FBC Making Money With Charles Payne July 12, 2024

Covid19 relief bill is reached. Can moderates in both parties save the day with their own version or are they too far apart to compromise . I will ask republican congressman andy biggss. That and sew much more coming up on making money. Charles so, folks the major indices bolted out of the gate this morning. There is still tentativeness. You see financials down, work from home stocks, trending a little bit lower. After a sharp pullback, in fact the fastest correction in nasdaq history, the question is, is the worst over . Plus key sectors of the economy continue their quick growth. Where to invest for the housing boom, the manufacturing rebound. Also this hot ipo market has many salivating but some wonder if it is good or bad news. So many questions, so lets get the answers. I want to bring in Devine Capital ceo dani hughes, bellpointe chief market strategist, david nelson and courtney dominguez, advisor pour payne capital. A group im not affiliated with. Dani is the worst over . That is a great question, charles. It depends who youre looking at. The markets have been flying high but there is a lot of reality on the streets that doesnt reflect what were seeing in the marketplace. I dont think the worst is over. I think earnings will be very interesting at the end of this year going into next year. And the election is coming up. Lets not forget, how could we . I think that could throw a lot of things into the washing machine of the market if you will. Charles you know, courtney, to that point, we know the aftermath of the election could be extraordinarily volatile. That 10 quick correction in the nasdaq, a lot of people saying it was so fast, it was sharp, did what it had to do, flushing out maybe the weaker hands. Where do you see the market from here . One thing we cant forget about right now is all of the cash on the sidelines and weve been talking about this kind of leading up into this. We are going to get periods where people are taking some profits. You have a lot of buyers who have been waiting for some sort of scheck shoe to drop and some sort of entry drop waiting to buy back in. I think that what were seeing. This might be future dips what we see. There is a lot less fear because there are so many investors waiting on the sidelines to get back in when that happens. Charles david, even at our best point a couple weeks ago, only 200, maybe 40 names on the s p were up. That number is down to 200. Essentially most stocks in the market whether they trade on the s p or nasdaq are down for the year. I think that is to danis point, but the indices themselves are they looking they may not have to recess the recent lows . On the broad indices i think the broad indices are okay because what i see is the market is starting to broaden out here. I think as far as those weaker hands that you just mentioned, those weaker hands have memory and as these tech stocks be, secular growers start to get back up to those highs there will be some selling there because they will have a opportunity to get their money back but for me, charles, the key message here is that this market has to broaden out because the baton isnt handed off to industrials, consumer discretionary, even some of the financials. At some point in time were setting ourselves up for an accident. Charles talk about the broading out. Empire fed survey, a manufacturing survey, much better than expected. Yesterday after the close lennar blew away earnings consensus. How do investors get exposure to these sectors . David, i want to go back to you then, are these areas, materials, industrials, they have been looking really good. Is this where investors should broaden out their portfolios . I think industrials are probably one of the best places to go, maybe even one of the safest because i dont care whether youre in amazon or walmart you have to manufacture the goods, somebody has to ship the goods and Financial Company likely has to finance the transaction in the first place. These are the areas of the economy that have to do better if we have a sustainable economy that can move out of the 2021 and beyond. Charles and, courtney, you also like an etf in the industrial space. Which one is that . Exactly. I think choosing individual names it can be difficult to do and a really good way for investors get lowcost, welldiversified funds is vanguard or charges schwab. A lot have these. Good example it the van Guard Industrial index. A good way to get top names, 3m. Caterpillar, a lot of industrials bundled together in one low cost. If youre looking to do that cheaply that is a Good Alternative to look the. Charles symbol is vis, folks. Talk about snowflake, not the folks out there always complaining but were talking about the superhot ipo. The range in this thing increased 100 to 110, from 75 to 85. Dani i want to talk about this as a potential buyer also the slate of the hot ipos. Is it reason for optimism or is it a red flag for you . It is actually very optimistic. So when you look at the ipo activity in the marketplace and where we have all of these hot deals and all of these unicorns lining up to go public, that means the market is healthy and it is very liquid. When that happens. You have a lot of clamoring for these ipos. Snowflake actually has great earnings. They actually recorded yearoveryear growth of 173 , which is pretty massive. Going back to the late 90s, when we had giantly robust ipo market. You didnt have companies with that kind of growth. In most cases you didnt have companies were making any money. Right now we do have that. We are seeing companies that want to come public the really big names. Theyre going public in different ways too, charles. The spac market, the special Purpose Vehicle that is brought public before they reverse companies into them, that market is the highest it has ever been. 33 billion worth of activity in that market. 86 Spac Companies came public this year. Charles spacs have been really hot. Nikola might hurt them. Well talk about that later but i do want to stick with individual investors and the theme what gets them excited. For a long time today the number one percentage gainer on the entire s p is xterra. They announced a fourforone stock split. Investors who bought on the stock submit announcement for tesla, apple, sold the day they split made a fortune. Look like theyre going for it again but you think it is a mistake . Dont buy it for the stock split, charles. Buy it because its a great company. I have dont think you will get the kind of action from tesla or apple. I sold this one too early. I tried to be cute with it. I will probably have to find another entry stock. Dont look at it as utility stock. Look at it as a growth stock. Look at the chart compared to the s p 500 t outperformed not just yeartodate, the last five years, 10 years, two decades this company has been beating the s p 500. I think its a great company. Charles talk about going to the other end of the spectrum, companies have not done well, stocks have been in trouble but recently coming on. I want to point out slg. The shares soared yesterday. Theyre up big again today. Yesterday the company unveiled the latest building in manhattan as one vanderbilt. It is right across the street from the Grand Central station. 1400 feet tall, 1. 7 million square feet. That amazing. The office space looks beautiful. Dani, youre a long term investor, you work in manhattan. It is really going against the grain to say i want to invest in new york City Real Estate which is sl green is, would you make such an investment right here . Lets not forget slg is actually one of the Largest Office building holders in new york city, right . Not just residential. Residential real estate is quite different from commercial real estate. Commercial real estate you have got leases that go out many, many years, dozens of years. In some cases almost 100 years. So commercial real estate in a strange way is a little bit protected from this downturn that is happening right now. You also can never count new york city out. I do like slg but i would rather own a reit in Something Like storage or medical facilities that has more of an upside potential to it rather than being concerned about the commercial real estate market, not just the manhattan but all over this country because of work from home. Can i take the other side of that trade . Charles you probably could let me bring courtney, and you get in on the other side. Okay. Charles it support as amazing dividend. Return to new york city, especially a stock down 40 of the year, rocketing last two days, it is telling you something . Yeah. I really like real estate from an income play and inflation hedge. I think long term you have a lot of opportunity in real estate but i do have to agree with dani here, i wouldnt solely just focus on manhattan or new york city specifically. Whether were optimistic or not youre really putting all your eggs in one basket. I do think there is a lot of potential with cell towers, industrial storage. There are a lot of good other facilities you want to include in the real estate portfolio. Whether or not were optimistic on new york. I agree, charles, i think long term it will go up. Short term make sure youre better diversified. Charles david, you have five seconds for your rebuttal. It is challenge, it is new york city. It is a hightax state i wouldnt think of any investment i would want worse. Im walking away from it. Charles you used your five seconds wisely. Hey, dani, im with you. I didnt bite on it yet but looking closely. Fantastic stuff. Thank you all very much. Meanwhile folks, a very powerful moment at the white house just a short time ago. President trump standing with israel, United Arab Emirates and bahrain as the sides ink a peace deal. The president saying it is possible that five more nations could join this historic agreement. He also said the deal could even push palestine, palestinians, rather, to set aside their differences with israel. Certainly peace in the middle east has not looked this promising in a long time. Coming up at 2 20 congressman andy biggs gives us his take on house moderates. Theyre pushing a 1. 5 trillion stimulus plan. Will Something Like this get done . First a judge siding with pennsylvania Business People over the states pandemic restrictions. Im reminded of the old notion that absolute power corrupts absolutely. Kristin tate will give us her reaction next. Okay. 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It streams exclusive originals, the full peacock movie library, complete collections of iconic tv shows, and more. Yup, the best really did get better. Magnificent. Xfinity x1 just got even better, with peacock premium included at no additional cost. No strings attached. Charles pennsylvania Governor Tom Wolf says he will appeal a ruling by a federal judge that his lockdown rules were unconstitutional. The restrictions included stay at home orders, limiteds on gatherings. The judge says the policies were overreaching and arbitrary and violated citizens rights. Does this expose abuse of power under the guise of Emergency Action weve seen across this country . I want to bring in Young Americans for liberty analyst kristin tate. As soon as the news broke we said get kristin on the show tomorrow. Really, this is amazing, isnt it . I love this federal judge charles, he wrote in his ruling the liberties protected in the constitution are not just fair weather freedoms we can toss to the side at anytime. Our nation faced emergencies in the past. Well face more emergencies in the future but the solution to every National Emergency is not to restrict our constitutionally protected liberties with these draconian political orders. Americans should never expect a new normal where our freedoms are just subject to the whims of power hungry politicians, these governors, state elected officials. They are not kings. They have no right to tell millions of americans to stay locked in their houses for months on end. They have no right to say which businesses are essential and which should shut down. Cove death rates are way down, hospitals are not overwhelmed. What are we waiting for . The country should reopen quickly and safely. Charles along what you said, it is a term called creative combustion. I heard it yesterday. Apparently last week jpmorgan which we reported on asking their employees to return to work. Turns out it is because productivity is really suffering. According to reports Ceo Jamie Dimon says the output by younger workers in particular were affected on mondays and fridays. So lets talk about that. How much of an issue do you think this is, the idea, hey, no matter how Much Technology we have there still has to be some sort of a persontoperson friction to create that kind ever energy, the kind of enthusiasm, the kind of productivity that powers an economy . Not surprised about this at all. In fact what i find most shocking that jamie dimon needed to hire a bunch of advisers and consultants to tell him that employees are less productive when they work from home. It is very easy to get distracted working from home. I have many friends in my age group who are newly working remotely because of the pandemic. They tell me all kinds of things. One girl i know who sets her alarm for 8 00 a. M. Every morning. Turns up on the computer, so the employer thinks she is working, goes back to sleep for an hour. If were working from home it takes a lot of discipline. Charles i have employees. Believe me our productivity on fridays is horrible. Less than a minute though. I want to tell you about the villainizing, villainization of big businesses, whatever the word is, should we be cheering or jeering company like amazon . They will hire 100,000 people to help with surging orders. They have a million employees. Should we focus on who how much taxes they pay or how much economic out put they generate for millions of American Families . Hard to answer, charles. Covid has been a boon for amazon. The lockdowns killed momandpop Small Businesses. You cant expect businesses to be shut down for months on end to pay their retail rent. While it is fantastic that amazon is offering Competitive Services for people who want to stay at home during the pandemic, the government imposed lockdowns unfairly hurt retail establishments, momandpop Small Business owners. It is tragic, it is sad. That is another reason we have to reopen the country so Small Businesses and retail establishments with brickandmortar locations can be competitive against amazon. Charles so we had a segment with three topics, if it was slot machine i would have pull it down the slot machine would have said open the economy, open the economy, open the economy, all the bells and whistles would coins would come out and. Thank you, kristin. Thanks, charles. Charles house moderates making a lastditch effort to get stimulus out there. Nancy pelosi making it clear she wants the house to stay in session until a agreement is reached. What are the chances . I will ask arizona congressman andy biggs. 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Charles well a Bipartisan Group of, about 50 house lawmakers bringing up their own stimulus proposal in an effort to break the gridlock. It has 1 1 2 trillion dollars. That is the price tag. It includes individual paychecks, state and local aid but does it even have a prayer of passage . Or will congress continue to stand off . Joining me Arizona Republican congressman andy biggs. Congressman biggs, thank you for j

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