Weve got a jampacked show for you. All that and so much more on making money. All right, folks, the market continues its effort at trying to find its footing but an early rally really fizzled pretty quickly in the fog of uncertainty that includes growing worries about the election outcome and speaking of politics how important is it for another round of stimulus . I say without it, this rally could get slammed. And its beginning to happen. Even as big names like apple and microsoft drift, folks, some of these other momentum names like cloud names are acting great. We will dive underneath the numbers here for you. Meanwhile amazon in fact got an upgrade this morning new share price target. Tesla has a new target of 515 from 480 at piper sandler. But you might be thinking about buying these value stocks, right, you keep hearing about it. The problem is though what is a value stock because not everything thats underperforming is on sale. I know the old sweater analogy, right, it is really popular but just because a sweater that you were spying is now on sale for 40 bucks doesnt mean it is a value. That sweater might have a stain that cant be removed. There are a lot of questions. Kings view Wealth Management cio fox business contributor scott martin, 1847 financials grant branch and Wealth Enhancement Group senior vp nicole webb. Here are the questions forfor you for you, should investors be looking to get back into momentum stocks before they pick up steam . Let me start with you on this, nicole, because earlier in the session they were acting pretty good and of course we know that these are momentum stocks. Once the train leaves the station, it moves pretty quickly. Yeah, i think the first thing that we have to address always, go deep inside yourself and check in, are you becoming are you following the discipline of momentum . When the trend gets too strong you start to pare back. That doesnt mean you buy the stained sweater but you look for the dislocations available in the market and where you are about to see momentum begin to pick up. Charles i feel like the old show, im not i grab the pebble from your hand on that one. Im going to greg because he can help me focus on this a little bit more. Listen, i hear what shes saying honestly, but greg, the bottom line is going back to these same names has paid off huge for investors. So you can understand why people would want to do it over and over again. Yeah, i do understand that. And in the midst of this volatility until we have the certainty of an election outcome, that may not be a bad idea. Some of these names are poised for much stronger growth in the fourth quarter. They are still well positioned. They are poised for a strong 2021. Id look specifically if youre focusing on momentum, on stocks that are suited to outperform again in 2021. Theres some that have experienced structural change like the e retailers, were growing at 18 with 1 annual growth in december. Thats now jumped to 30 penetration from 18 . So thats a structural tail wind that you can bank on. Those earnings will continue to grow and power through in the next few quarters. Charles scott, youre one of my favorite traders. Are you looking at momentum right now . Thanks. Charles some of these big names that have pulled back, apple for instance, some people may say apple is actually breaking down but the old axiom is buy low, sell high. Yeah, whats funny is charles a lot of those names you mentioned whether its apple, microsoft another one we have had our eye on, are coming down to moving averages which is pretty interesting or support levels for the last few months that will be kind of indicative of where these stocks go from here. We own all these names. Were not looking to add to them just yet, but i will tell you to stay with the stained sweater analogy here, youve got to buy stuff that looks ugly and looks stained right now i think in this market because that rotation is going on. I am not afraid to say it. We have been buying it. Its stuff like financials, jpmorgan, citigroup, with the new controversy going on with the ceo, great opportunity to get in there. Travel, leisure, hospitality as well as restaurants. We have talked about darden restaurants, expedia, luv southwest airlines, companies that looked like they were completely stained, completely going to be left on the rack at the store and all of a sudden people are buying them because they have been so trashed, they have been so discounted, and thats where you will see returns going forward. Charles right. Nicole, every stock thats down though, right, for a while if you werent one of these half a dozen tech names, maybe a few of these cloud names, you were considered quote unquote a value name. I dont know that we really want to, you know, because thats a pretty wide swath of names. Are there some names out there or some sectors out there that have been overlooked that you think are really good now entry points . Yeah. Absolutely. I think, you know, theres a story to be told there about the global restocking thats still happening. Think about the things you couldnt get on the shelves for months on end, products that have a shelf life two plus years, the staples you put in your war room, that was sold out around the world. Theres a lot of restocking that needs to happen. In addition to it, when we start to talk about value, i think with as much as guidance were getting around low Interest Rates going back to what we saw about ten years ago, we are going to see people start to buy dividendpaying stocks, willing to buy at various price points to create that type of both constraint around liquidity, create the Dividend Income stream, but also start to take a hold around just how do they create kind of bumpers on their bowling alley, when theyre willing to take on more equity premium risk in these momentum stocks, knowing that it goes up, it goes down but i need a safe place to take money from when i need it if i need it but i want to remain invested when rates are as low as they are. Charles i want to talk about the impact of the consumer on the economy and the markets. We just got Consumer Sentiment numbers out, greg, that came in better than expected. We hadnt seen that in a long time. In fact, of all these Economic Data points, almost all of them look like a v. Consumer sentiment looks like an l. How critical is it that we get the consumer and really you know you talked about the consumer earlier that the consumer holds up their end of the bargain and what role does fiscal stimulus play in that happening . You hit the nail on the head, charles. In order for the consumer to hold up their end of the bargain, our government needs to hold up its end of their bargain. We need there to be stimulus, job growth, continuing confidence. Without the architects, without the government kind of shaping and nurturing that without job growth kind of persevering that, i think were in for a rocky road ahead unless we get that stuff. Charles i tend to agree, scott. Where are you on that, scott . I know you have got some defensive areas. You are in gold. You have done well there. Youre conversely buying value. In a few minutes we will hear from President Trump about a vaccine. Im getting concerned about serb certain parts of the reopening trade. Where are we with all of this . Some of those moves we have talked about in southwest have been huge. I dont blame you for taking profits there. You should pair back and wait for a pull back and maybe wait for some more. With regards to the consumer, im not so sure. The Consumer Sentiment numbers from university of michigan im an Ohio State Buckeyes fan, but we will take the data they give us. The numbers look pretty good. With the expectations and current conditions, charles, are the highest they have been since the pandemic began in march. To me the consumer is starting to feel more comfortable, either getting support from the treasury department, starting to see maybe less furloughing going on, so to me the consumer names are where you want to keep an eye on. Dont forget, a lot of the names we have talked about in the restaurants and travel industry are still way off, talking 20, 25, 30 percent potentially off their highs from january and february. Charles interesting, there was a rumor or story actually that dave busters may go bankrupt and then this morning two firms upgraded dave busters. Your point is absolutely right. Wall street is looking beyond the scuttlebutt and focusing on the opportunities. Ive only got a minute to go. Nicole, quickly, if you can, whats the greatest risk right now for the market . We see it looks really weak right now. It looks vulnerable right now. People are afraid. Is it the tiktok drama . Is it the washington, d. C. Drama . Is it the election . What are you most concerned about . I would say that the only thing that im really concerned about right now is that people let their bias about the up coming election keep them paralyzed from investing. We have got to grow our way out of this on the back side. We pumped in unpresent ded amount of unprecedented amount of stimulus, liquidity. The money needs to be spent and invested. Growing our way out is on the back side of covid. People who arent paying attention to that arent seeing the opportunity in the market, they are going to shoot themselves in the foot. I think they will miss out on some opportunities as we continue to grow and excel on the tail winds of additional stimulus and additional liquidity. Charles right, amen. I couldnt have said it better. I love the way you laid that out for our audience. Nicole, greg, scott, thank you all very much. Have a fantastic weekend. Congress and the white house appear to be inching closer towards more stimulus. Republicans and democrats say that they both want to negoti e negotiate. And yet they still continue to play the blame game. So the white house, though, really i think its the white house that may get this done, letting it be known they are okay with the 1 1 2 trillion dollars relief effort. Will it happen . I want to bring in Tennessee Republican senator and author of the mind of a conservative woman senator marsha blackburn. Senator, thank you for joining us. You know, yesterday larry kudlow made comments about perhaps 1. 5 trillion dollars. Your colleague senator kramer was on the show with me yesterday, he acknowledged it could be 1. 5 trillion. You know, i think the stakes are too high for the politics that are going on right now. Whats your feeling on this . We were really disappointed last week, charles, and you and i talked about the bill we put on the floor. We felt like that was a great place to say lets check these boxes. Lets get this ui done. Charles right. Lets get the ppp done, money to the schools, vaccine money that needed to go, testing that needed to go, and we were really disappointed that they chose to say no. So we will see if theyre going to come out with anything or not. They want the issue. They want to keep you locked in your house. They want the American People to suffer, and they are looking they are really using this they think that keeping you locked down, not getting a check, is a way that is going to help them win, but i got to tell you, i think they are misjudging this. Charles well, i tell you what, its hurting those places, and we just got numbers from the bureau of labor statistics. It wouldnt surprise you to know that new york state has a 12 1 2 unemployment rate. That california has a double digit unemployment rate. All those states that tried their best to get people back into the workforce, alabamas and the georgias of the world, the tennessees of the world are looking significantly better. By the way, speaking of tennessee, i want to ask you about, its a local story, but it is making national headlines. This report in nashville about uncovering what it looks like its a coverup by the Mayors Office to keep shockingly low covid cases numbers down. Out of the eye of the public, what do you make of this . I have heard more about this in the past 24 hours than just about any other issue. People are incensed. There should be a full investigation of this. If these city employees, the Mayors Office, if they decided they were going to manipulate this information, and mislead the public on this, then of course they are going to have to have accountability on that. You have a lot of businesses, a lot of minorityowned businesses that have been shuttered. You have people that have lost their jobs. You have places that are never going to reopen because they made decisions based on what they were hearing from the Mayors Office, and now to see this email chain and to hear this, i mean, charles, this is something that is completely unacceptable, and of course, youre going to see an investigation and accountability and this Covid Task Force and the metro health department, i tell you what, there needs to be a little review and maybe some House Cleaning that takes place in the Mayors Office and over at the health department. Charles it boggles the mind. I mean, it kind of the only thing i can think is you guys have so many people coming to your city, maybe it is like when the folks in iceland called the country iceland because it was so nice and conversely the folks in greenland called it greenland because it was so awful they needed to get people in. But it is baffling to me. Good luck with everything, senator. Thanks for your time. Listen, the American Public really needs one more push. Im telling you, im going over the data, im look at something out of the Federal Reserve moments ago, if we can make it happen, lets make it happen. Yes. Charles always appreciate your time, thank you very much. Data means something. We need access to accurate data, and then we dont need people to be playing with it like happened in nashville. Charles yeah. No, that we definitely dont. It should inform us so we make the right decisions. Thank you very much. Thats right. Charles parents are fuming over new York City School delay and now theres growing fear that that delay is going to hold back the Financial Capital of america, the Financial Capital of america, its going to hold back that recovery. We will break that down for you. We are awaiting President Trump. He is going to speak at any moment now. He will give us a vaccine timeline update. We will bring you those comments as soon as he starts to speak. We will be right back. 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Charles, the amazing part of this story is that everyone found out almost at the same time, very last minute. It was a huge shock to administrators teachers at the school behind me tell they are angry and of course parents. It is adding another setback to the comeback for the big apple as parents have to scramble to get child care. This in turn affects companies. You have administrators that really just found out at the last possible second. One principal emailed all of his families, broke the news down and then signed off that email with quote, im just as mad as you are. So the countrys Largest School system at this point needs to hire 2,500 educators in less than 12 days. And details about the recruitment process are still a little bit murky, leading some to believe that this could create further delays for inperson learning and slow down the citys attempts at overcoming covid. Listen in. Were making decisions on education right at the very last minute. We dont allow this in businesses. I dont know why its allowed in our schools. Businesses like parents need to be able to plan for the future. Right now we dont think the city has any plans whatsoever. Were talking about planning. Its been a little bit difficult for families here. Theres a lot of talk about an exodus. New poll shows that 44 high income earners those making six figures or more have considered leaving the city within the past four months citing the cost of living as a major concern. And i mentioned this stat because these high income earners are major contributors to the income tax revenue here in new york city, roughly 80 of it comes from them. So overall, charles, we have a situation, administrators, families have to wait, but i know they are hoping that inperson learning will be delayed no further. Back to you. Charles everyone is hoping for that, kristina, thank you very much, appreciate it. Joining me now folks New York Post columnist carol markowitz. In your New York Post column you say postponing inperson learning is a serious dereliction of duty and the mayors basically telling parents to give up on new york city. Thats right. The reporter just said that people were very surprised, shocked by this setback. I wasnt. Anybody who follows me on twitter knows that i was expecting it and said it on fox programs many times. I dont think schools are opening on the 29th either. I dont know how theyre going to be able to hire all of those teachers before that date. And i think its just too bad that were in the situation where school has become such a last priority. Charles you know, its interesting, the ramifications for this go it covers so much from prer children who dont have laptops or special needs kids or kids who need to be in person to learn, to the economic ramifications, the Federal Reserve came out said 19 of working parents expect to work less if local schools do not have inperson classes in the fall. Think about that. If 19 of workering parents in new york city working parents in new york city work less, the economic ramifications of this is mind boggling. Absolutely, and, you know, i feel that my husband and i, you know, are doing the best we can, but its absolutely impossible to work when your kids are home, and so, you know, its just a really tough time for new yorkers in general, and it would be better if our elected officials sort of seemed like they understood that, but ours dont, and it is an ongoing problem that they dont take seriously that we cant live like this. My husband and i are lifelong new yorkers and for the first time in our lives were having the conversation about should we leave and where should we go . School not opening is the straw that is breaking the camels back for so many people. Charles you know, you said because you follow the City Politics and de blasio better than anyone i know, that you sensed Something Like this was coming. Would you be surprised if they delayed school inperson school yet again . You know, if they delay it a third time, i think that will be comical. I think theyre going to say were going remote. Thats my prediction right now. Sometime before the 29th, they will say it isnt working. We dont have enough teachers. We cant get teachers in time, so were going to go remote. [inaudible]. Charles karol, keep us updated. We appreciate you working. We feel your pain. So many of our viewers share it as well. Thank you. Folks, we are awaiting President Trump, who will speak at any moment now on a vaccine timeline. We will bring you those comments live as they begin. The President Trump accusing schools of teaching students about [inaudible] two of my favorite political watcher wills react, next. Nonvalvular afib can mean a lifetime of blood thinners. And if youre troubled by falls and bleeds, worry follows you everywhere. Over 100,000 people have left blood thinners behind with watchman. Its a onetime, minimally invasive procedure that reduces stroke risk and bleeding worryfor life. Watchman. Its one time. For a lifetime. And im still going for my best. Even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. So if theres a better treatment than warfarin, im on top of that. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. Whats next . Getting out there. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Ask your doctor about eliquis. And if your ability to afford your medication has changed, we want to help. Charles President Trump says he will soon sign an executive order to promote Patriotic Education in america. Trump says he will create the 1776 commission to help create a pro american curriculum that celebrates the truth about our nations history. President trump says that the riots that were seeing across american stays are the results of American Cities are the results of decades of left wing indoctrination in our schools. Joining me now is david webb and radio host rick unger. David, what do you think . Unlike my colleague, im a little younger, a note to rick there, ive been in the Education System in the 80s that was uncalled for. I saw the change from then to now. I got to tell you, im glad rick is here. On this i think rick and i are on agreement. You should be taught history just like you are taught math. The numbers are the numbers. Our history has pros and cons. It has good and bad. Our evolution is a part of the lesson of history and evolution of societies. It is beyond pat beyond patriotism. It is being accurate about what you teach. Not only does david insult me over my age, but he steals all of my material. I have to agree with him. I hate when that happens. Honestly. David put that really really well. Thats we need to bring civics back into our schools. It is outrageous that we no longer really teach american civics. Davids got it exactly right. Its not about pro patriotic or antipatriotic. Listen i think a lot of you guys have had a pretty good beef for a while, very much deserved, when we talk about how you see liberal professors from time to time influencing the nature of education. I dont want that. I want what david just said, that he wants, which is honest facts, the good and the bad, about our country and for that matter anything in world history. Charles i was wondering who you were talking about, you guys, im just joking. [laughter] charles i want to stick with education for a moment, and this is something that really is still hard to believe. According to new survey of Young Americans young adults in america, rather, 23 think that the holocaust was a myth, an exaggeration, you know, obviously maybe, i dont know, and some even think, you know, that rick ungar that the jews were responsible. This is our Education System were talking about. What do you make of that . You can imagine how somebody like me would feel about that. I lost relatives in the holocaust. You will find very few American Jews who didnt. It means that they are ignorant. It means that they are stupid and probably unfortunately not hearing that at school. Theyre hearing it at home. Of course its important that everything having to do with what was involved with world war ii and what was happening in germany, no kid should go through school in this era without knowing the truth. Again, both the good and the bad. Charles go ahead, dave. It is reprehensible that these children dont know this given the importance of this. But we also charles these are adults young adults. If you think about communism, there are over 100 Million People dead, and you have someone like anita dunn, chief advisor to kamala harris, who says on video that one of her political heroes im paraphrasing is someone over 80 million dead under him. Rick and i know many family members who have survived the holocaust, one of my closest friends, his family. It is rep rehensible to ignore any history. The same thing with communism. We were having a great discussion. You had to make it political. Charles lets get it political for a moment. Pelosi finally condemning rioters who have destroyed a large swath of American Cities. Some are wondering if it is too late for democrats to call out these riots. Rick in politico saying today i think that maybe wisconsin is lost and that its clear that democrats are responding now to something perhaps they should have responded to before. Wisconsin is lost to who . Charles its lost to the democrats because of the way the democratic well, politico is writing this. Do you think the democrats reacted too slow to the rioting in our streets . Yeah, i think some of them did. I would pick the bone with you a little bit over saying a wide swath of our cities. Its not a question of how wide. It is not that wide. But it is a question of look, i mean, the first night it happened, i can tell you on my progressive talk radio show, i came out and condemned it. Violence is violence. I will never support violence. There are some democrats who have been too slow to condemn it but others have condemned it quickly. Charles david, 1, perhaps 2 billion dollars in damage, it is a lot of money, it is hard to ignore particularly when it is Small Businesses that have suffered a lot in a lot of these towns. Ly i will give you the last word on this. Will it make a difference in november . Yes, it will make a difference, for a simple reason is that americans want to feel safe in their communities. When this riot came to kenosha, wisconsin, it hit middle america, the midwest. That changed the game and joe biden had to come out of his basement. You are right, 2 billion dollars damage later, 500 million plus in minneapolis from the getgo. Come on, Nancy Pelosis now looking at how they can try to recover this so they dont lose the argument when more and more americans say look we support law enforcement, law and order. We want to address the problems where they exist. But where has the Democrat Party been whether its at the Dnc Convention or since then . Can i just chip in and say the polls disagree with you both . Charles President Trump is coming up. Let me say thats why both candidates are in minnesota today. Ly you guys are the best. Thank you very much. New jerseys wealthiest are about to get walloped by governor murphys millionaires tax. Other blue states, many may do the same thing, even if it sends rich folks fleeing. We will show you how to navigate your portfolio no matter who wins in november. Get out a pen and paper so you arent caught flat footed after election day. We will be right back. Or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Im a verizon engineer. And im part of the team building. A powerful 5g experience for america. Its 5g ultra wideband, and its already available in parts of select cities. Like los angeles. And in new york city. And its rolling out in cities around the country. With massive capacity. Its like an eightlane highway compared to a twolane dirt road. 25x faster than todays 4g networks. In fact, its the fastest 5g in the world. From the network more people rely on. This is 5g built right. Only on verizon. This was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. [camera man] actually anyone 50 or over is at increased risk for shingles. The pain, the burning my husband had to do everything for weeks. And the thing is, theres nothing you can do about it [camera man] well, shingles can be prevented. Shingles can be whaaat . [camera man] prevented. You can get vaccinated. Frank they have shingles vaccines whaaat . Thats what i said. Were taking you to the doctor. Not going through that again. [camera man] you can also get it from your pharmacist talk to your doctor or pharmacist about getting vaccinated. Charles new jerseys wealthiest are about to get hit with a millionaires tax. The democratic governor wants to raise rates on those making over a Million Dollars a year from under 9 to nearly 11 . Lauren simonetti is joining me with more. Lauren . Yeah, charles, and that rate brings new jerseys income taxes to the second highest in the nation, behind only california. Governor murphys millionaires tax would generate about 390 Million Dollars in revenue, and most of that would be divvied up and sent as 500 checks to some middle class residents next year. Some tax experts say the timing of all this couldnt be worse. This is the last time you really want to impose significant new tax burdens. People are really mobile right now. The highest income individuals can leave. And they are. Let me show you this, the top four highest tax states, new york, california, illinois, new jersey, they saw the highest level of outmigration in the past decade, 3 1 2 million plus people just from the top four. If the past is any indication of the future, take a look here. A millionaires tax back in 2004, in new jersey, cost the state 20,000 residents and 2 1 2 billion dollars. That came from a study from the new jersey treasury department. And this, a millionaires tax in maryland in 2012, pushed 31,000 residents out. Okay, this is a lot of people. It is a lot of money. But it is also a lot of business owners. Supporters of a millionaires tax call tax flight a myth but critics worry it could stomp on any recovery. They suggest cutting taxes to grow the economy and or broadening the tax base instead as some ways to fill depleted state coffers right now. Charles . Charles yeah, lauren, thank you very much. And while millionaires in new jersey are waking up to this huge tax hit, theres a chance millions of americans could wake up to higher taxes on november 4th. More and more investors want to know how to prepare for the president ial election. My next guest just wrote a 17 page report on politics and your portfolio. The cio of the boston group, david boston. First lets start with where the market is now with respect to anticipation of who may be a winner because i think the markets probably would be under more pressure if the conventional wisdom was that biden was winning this thing. How do you see it . I dont necessarily disagree but i think the markets cant really price in any kind of president ial outcome with conviction unless they have a feel for the senate race. The way in which the senate will play in to the president ial race is going to be very important for markets, so the uncertainty around it can certainly create some volatility. But look, joe biden took pretty commanding leads in the polls, bigger leads than he has now, in june, july, august, and the market went up 3,000 points. I just think the market feels the same way i do, which is it has no idea whats going to happen. It is going to be a very close race, and then as i point out in the paper that you alluded to, the senate is going to have a lot more to do with where the market goes than the president ial race. Charles so then when people are trying to gauge this thing, all kinds of things they use, you reference the betting odds as a gauge. They really seem to work better than polls. Its something that we should start paying attention to . Yeah, definitely. I mean, i think people have real money in the game. Its a much different deal than someone just sort of sharing with a phone person or on the internet who they say they are going to vote for. Look, im not one of these people saying all the polls are fake. I dont believe that. Some are good. Some are bad. I look at the averages. But the betting odds have been far more predictive. Ultimately the Electoral College as you know charles makes things a little complicated because you could have a situation where the polls indicate as they did with Hilary Clinton that President Trump was going to lose by 2 to 3 points, and he did lose the popular vote by about 2 points but the Electoral College is what matters, thank god, because thats the way our system should work because of our states rights. Charles right. However i will say this is probably going to be a very close race and a lot of volatility will come as the market tries to guess which way the wind is going to blow. Charles so lets talk about handicapping portfolios. Now, you referenced the senate. Is there really a big difference between the outcome being a United Government or split government, with respect to the markets . Well, historically interestingly split government has been very good for markets. I allude to the three decades that ive been in this, reagan and tip oneil and clinton and newt gingrich, and then of course barack obama with john boehner, all three experienced very good markets. People could debate if they think gridlock is good for the country or not. Ultimately i think all of us would like to see more things get done, particularly if there are things that we believe in and want getting done. However, from a market standpoint, lets just say joe biden is elected, and he prevails, i think joe biden with a Senate Majority leader Mitch Mcconnell is not going to get anything done, and i will share with you, youre the first person im saying this to and all of our listeners, joe biden wants the republicans to win the senate. He wants an excuse to not have to do all the crazy things that aoc and bernie want him to do. So i think not only do most people like the idea of a hedge, having Republican Leadership to keep these tax increases and Green New Deal and so forth from going through, but i really believe that joe biden wants it too, because at that point, he can kind of punt to the fact that hes stuck. I truly believe that, charles. Charles wow, all right, listen, fantastic stuff. By the way, congratulations. You made barrons top financial list. Youve been doing extraordinarily well. We appreciate you sharing your wisdom with our viewers because a lot of people are anxious and perhaps they shouldnt be. David, thank you very much, my friend. Thank you, charles. Charles folks, our economy, this economic rebound, were getting more evidence it is running out of steam. The question now what needs to happen before it really sputters out of control . I will be asking an economist right after the break. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old look here, its your very own allinone Entertainment Experience xfinity x1. Its the easiest way to watch live tv and all your favorite streaming apps. Plus, x1 also includes peacock premium at no extra cost. This baby is the total package. 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. Million jobs permanently. They are not furloughed anymore. They are not coming back. The reality is were probably going to lose 4 million jobs if we dont do anything. People that would be permanently unemployed, 4 million is a very large number. Its about 3 of the jobs in the united states. You know, 2. 75 , thats a big number. Charles right. It will take a long time to get enough growth to reabsorb them. Charles peter, some of these wall street firms in the last week are starting to talk about or reference a second wave, i mean winter is coming. Yep. Charles maybe leading to more lockdowns. I know it is tough to crunch the numbers right now. What are some of the possible outcomes if we really go through this again . I think well manage it much better. You know, over in europe, the second wave has already begun, and the governments there are strongly resisting locking down. I hear that issue has become politicized, but, you know, now we know better how to cope with it. My feeling is that the hospitals are better prepared. The economy is more resilient now. If we get a stimulus package, i think we can get through that. I think we can get through it just fine. You know, they didnt have a lockdown on a whole basis, you know, of course the whole economy, in 1917 and 1918. Charles yeah. Well, you know, weve learned a lot from the medical point of view and certainly from the economic point of view. Peter thank you very much, my friend. Really appreciate it. Folks, meanwhile, the dow, you know, its right at the edge of perhaps having a threeweek losing streak, but its trying not to. In the meantime, you also get a sense that some of these hot stocks could get hot again very quickly. When we come back, we want to discuss positions, the stocks you may want to own as we head into next week. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Everything we have, weve earned. The unmistakable lexus is. Get zero percent financing on the 2020 is 300. Experience amazing at your lexus dealer. Experience amazing i have the power to lower my blood sugar and a1c. Because i can still make my own insulin. 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Were committed to helping ensure trulicity is available and affordable. Learn more at trulicity. Com. And now your copilot. Still a father. But now a friend. Still an electric car. Just more electrifying. Still a night out. But everything fits in. Still hard work. Just a little easier. Still a legend. Just more legendary. Chevrolet. Making lifes journey, just better. How did you come up withd opened all these backstories . Tudio. I got help from a pro. My financial professional explained to me all the ways nationwide can help protect Financial Futures in peytonville. Nationwide can help the greens get Lifetime Income because their son kyle is moving back home and could help set up a Financial Plan for mrs. Garcia. And he explained how nationwide can help mr. Paisley retire early and spend more time with his pal, peyton. And their new band. Exactly yeah. Dont forget the band. I havent. Charles breaking right now, we are awaiting President Trump to address the nation about our vaccine timeline at any moment. In the meantime, stocks sinking as we head into the final hour of trading, wrapping up a week thats filled with a lot of angst; right . Joining me now rob luna, ceo of a ci financial company. Rob, the market, this week it is intriguing because it is trading in a tight range, and it seems like weve got clearer breakout points and clearer breakdown points for the s p above 3420 i think could spark a really big rally maybe retesting the alltime high but also need to be worried about 3331 in that area, that moving average has held but what happens if it doesnt . How do you see it playing out . The market is treading water here. News came out about a resurgence overseas with the coronavirus. Thats kept a lid on the market. Were less than seven weeks away now from an election. We have no word on the stimulus package. So theres a lot of question marks out there that arent giving investors really that all clear sign to invest in the market. But i think, you know, where we are at right now is healthy on the market. On a day like today, you are seeing the leadership that we were looking at before, the crowd strikes the zooms starting to lead the market again. I think those are the names that the investors need to stay with. Charles yeah, and so thats whats intriguing to me, right . Tesla has been firm all day long. Zoom has been firm all day long. The saas, cloud names have looked really strong all day long. While people are selling out the apples and amazons of the world, they are not necessarily they are still looking for mediocre growth in different areas. Yeah, it is not coming at a cheap price; right . We saw snow flake hit the market yesterday at a hundred times sales. Zoom is at 40 times sales, i like the stock a lot. Right now investors dont care. People are willing to pay up for growth. When you see the resurgence of the coronavirus, it goes right back to those names that have been able to do really well in this market, which the ones we just mentioned. Charles right. You just referenced the ipos, of course snow flake getting the big headlines. We had Unity Software today which has made a pretty good debut. Yeah. Charles is this hurting or helping the market . Theres a debate on whether or not some of the selling in a name like an apple may be profit taking for people to position themselves in the new ipos . I think that makes sense. Theres definitely some shortterm money coming out of the big winners, facebook, amazon and apple to be able to get into some of the more speculative type of names. I think longterm more assets coming into the market is good. Look, theres a lot less supply for the demand thats being created by investors. Thats good longterm. At the valuations these are coming to. We talked about this before, charles, the ipo market today is not what it was in the 90s. Remember, amazon in 1997, when they came public, that was a 300 Million Dollars company. Snow flake came public at 60 billion. The private markets really where the opportunity is in my view today for those startups. Once it comes here, its dumped on the retail investor, im not a huge fan paying up, you know, four times what Warren Buffett did just a few months ago. Charles yeah, i have expressed my disdain for this over the last three or four years. I think it is really, you know, interesting that Silicon Valley and wall street can bid up these names and then to your point force them upon the public at such high valuations. Back in the day, Companies Went public a lot sooner and you enjoyed the ride with them. Now they know that their customers are going to buy the stock, and thats their so called exit plan. It is what it is, but i think it is distasteful. Lets focus on next week. Yeah. Charles weve had three weeks now. The market is trying to get its equilibrium, trying to get its footing, not a lot of major news scheduled for next week. Where does the catalyst come from . What moves this market . Yeah, i dont know, charles, to be quite honest with you. I think were going to honestly stay and chop around here. We talked about some of the money coming out of the names like amazons and facebooks, i just yesterday picked up a little bit more of facebook. I think youve got to dabble a little bit here and pick up some of those names. A name like Goldman Sachs is something we just bought, trading less than book. Goldman sachs is one of the big winners. They are the ones that underwrote that snow flake ipo that came to market. Charles all right, well, for a split moment, financials were the only sector up, thens ironic because they got hit at the close on some fed news. Goldman sachs, salesforce. Csale facebook, you like those names. You have been spot on and making fol ax lot of money making folks a lot of money. Rob, we appreciate it. Thank you. Charles not a lot of folks seem interested in stepping up ahead of this week, liz claman . Liz not at all. We have quadruple witching which is frightening the markets and were no near halloween. Nasdaq plunging deeper into correction territory. It is down 144 points as it aims for longest weekly losing streak this yeeshg year, it is bringing the dow and s p along with it. Now we know midnight monday is the slow death of tiktok u. S. App and that will begin unless its chinese parent byte dance and joint venture partner oracle can somehow clinc a
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