Gave this answer whether asked about a peaceful transition of power. President trump get rid of the ballots and you will have, you will have a very peaceful, there wont be a transfer frankly. There will be a continuation. Charles we get reaction from the rnc coming right now. All that and so much more on making money. Charles recently in a mad dash for the exits weve seen gains turn into losses quickly. Some are comparing this action to the socalled taper tantrum. You remember back in 2013 when there was a great fear that the Federal Reserve was going to turn off the spigot, begin to undo the massive quantitative easing. Dont say to Stuart Varney i said qe. The stock market knows it has the power to moving averagers and shakers, president , congress, ceos, yes, even the Federal Reserve. I think the market rallied big time in august because it assumed there would be more accommodation. Then last week the market had its wakeup call, maybe the fed dont do more. Now the chance of fiscal help with them as well. S p 500 peaked at 235 last wednesday ad 3428. It has been downhill ever since. This sharp move in the stock market in my mind trying to get the fed to move quickly and trying to get congress to push out some fiscal stimulus. The question of course, will it work . I want to is your panel. Fitzgerald group principal, Keith Fitzgerald and walser Wealth Management president , rebecca walser. Keith, let me ask you, the market to me after july 30th, when 600 bucks ran out i thought we would go off a cliff. The market did not. To me it seemed market assumed at some point we would get fiscal stimulus. Now looks like maybe we wont. The Federal Reserve also not coming through like people thought. I think the market is trying to force their hands. I agree with that sentiment there is two things. I dont think actually the markets themselves. Many beg traders who are highly leveraged addicted to cheap money. They want tailwind for the fed so they cant lose. The big thing bin investors these are the kind of moments you have the advantage over wall street. You can concentrate on Companies Like apple, on Companies Like microsoft that have a Bright Future irrespective of the white house, irrespective of the fed, that is something im focused on very frankly. Charles this morning we have the existing homes data, initial jobless claims report and again, it was bifurcated. We saw one hand what were Still Holding steady. In fact both continues claims in initial claims came in higher than expected but continuing claims came down pretty good. The total amount of folks that are receiving Unemployment Benefits down by almost four million. Rebecca this complicates the issue. On one hand people say were moving in the right direction but it is hard to see, even with 26 million americans receiving some form of Unemployment Benefits how we do not need at least one more nudge . There is no doubt about this, charles. We need another nudge. I will go with your language. I felt sorry for powell on this week because he cant do it alone and he is doing a lot. Congress obviously stepped up to the plate with the cares act. Everybody knows this is running out. October is a deal breaker. We got to have more or got to get people back to work. We dont have that yet. That is not happening. It will certainly not happen before the election because it is so politicized. We need more. The market says this isnt going to work. Were running out of steam. Get us some more. It is so weird from me. I am not a Big Government interventionallist. At same time i dont like us to be shut down to depression nary levels and things will work out magically. It will not work. It is not going to happen. Charles mark, i think a lot of folks are saying this is not a regular time. Once in a century pandemic. People forced not to work. Businesses forced to close. What are your thoughts on whether or not the market is signaling to the congress, to the Federal Reserve they need to act sooner rather than wait . Yeah. I think the markets definitely is saying that we need a second stimulus package. The problem is we have such a huge discrepancy between republicans and democrats not agreeing with anything right now. With the Supreme Court now in limbo that will add even more fuel to the fire as far as not getting something really done. We think that there will be a lot of volatility between now and november 3rd because of that fact. And you can probably even into january if there is any serious agreement on any kind of issues were going to see some volatility here. Charles you know, which is interesting about this, i want to circle this down to the consumer because, all right, many people will be surprised to know, Household Wealth now record highs and people are spending money. Were spending it differently. Existing home sales for last month, you heard kneel mention it, nothing short of amazing. Restaurant stocks acting pretty good after earnings report, massive beat in fact. I want to go back to you, mark, on this. Bifurcated economy is reflected somewhat in the stock market but is it enough . Can the consumer actually bring us out of this if there is no more help . Yeah. Because youre seeing a huge difference between the haves and havenots right now. Youre seeing folks moving out of major cities, saving more than they ever have in their entire lives, buying second homes, third homes, et cetera because Interest Rates are alltime low. My mom got her mortgage 9 1 2 for 30 year fixed. That is the differences between purchases of folks that have jobs and those that dont and unfortunately most americans are not in the haves category. Youre seeing huge discrepancies between the stock market and the general economy. Charles and yet, rebecca, the market seems to continue to anticipate that consumer somehow will step up to the plate yesterday. Of the top 20 movers, nine ever the stocks were consumer related. Either homebuilders or retailers. Nike of course was number one. What do you make of that . You know, it is so, this is just a very unusual world, charles, because you cant look at the economic hit on the one hand and see, Economic Data is also bifurcated. Like home sales like you said. It is phenomenal. Consumers are spending differently. Were obviously offeredderring a lot more things. We dont have entertainment spending. We dont have luxury spending. We only have travel spending this is all so long until everything collapses and crashes. America is not build for americans to be staying at home spending money online. We have entertainment venues, bars, and while nike is soaring. We need to wear the nikes, just not buying them. Charles im going to every single concert every week, if you want me to on a friday or saturday i will be at a concert. I dont care who is playing. Im letting you know right now. Talk about growth, weve been in the show four minutes and vent brought it up especially technology. Keith you sort of love these names. They have been taking a drubbing. The rationale for buying them, the big tech names . Rationale is very simple in my mind. This is the bet on digitization of our lives. They can change a line or code, add a billion or two dollars to the top line. It is growth that will occur regardless of the pandemic, regardless of the political discord, despite the fact virus may make a resurgence. Are they tough to buy, but history shows that is exactly kind of stuff we need to focus on right now. Charles markings you like tech, communications, 5g rollout. Energy what is going on out there . It is 50 this year. Im surprised that you want to buy it other than the fact i guess it looks cheap . Listen, at the end of the day everyone is not driving a tesla. You know when we get back to get a vaccine, get back to normal, you will have these stocks have tremendous amount of value. So that is something you got to look at over the long term. But i think in the short term, you have a lot of issues people continue to stay home and, dont want to go anywhere. On zoom all day. That is the problem, that is the longterm view and shortterm view on the Energy Sector. Tech, everyone should love because in a pandemic, it is only sector that will do phenomenal numbers. Youre seeing that in almost every single tech stock out there. Having a short, a small correction recently but i think if this continues in the next for next year or two like some epidemiologists are predicting tech sector will continue to have a bull market this year. Charles yeah, well, we keep buying it on dips. I think everyone probably should until it stops working because you made a lot of money so far. Mark, thanks a lot. Keith. Rebecca. I agree america was not built like this. We want to go outside to go to another concert. We have another stimulus bill. We have latebreaking details from the hill coming up. President trump set to meet with one of his potential picks for the Supreme Court in florida tonight. With mitt romney on board, the gop are battling within, they have their favorites. Senator rick scott will tell us who his favorite is right after the break so youre a small business, or a big one. You were thriving, but then. Oh. Ah. Okay. Plan, pivot. How do you bounce back . You dont, you bounce forward, with serious and reliable internet. Powered by the largest gig Speed Network in america. But is it secure . Sure its secure. And even if the power goes down, your connection doesnt. So how do i do this . You dont do this. We do this, together. Bounce forward, with comcast business. Charles President Trump paying his respects to Ruth Bader Ginsburg today. He is getting ready to announce his replacement also for the Supreme Court in just a few days on saturday. Republicans appear to have enough votes now in the senate to get the nominee through no matter who he chooses but Administration Sources tell fox theyre not ruling out the possibility of a vote after the election. So what exactly is at stake here . Want to bring in Florida Republican senator, rick scott. Senator scott, thanks for taking the time. With mitt romney on board, it is less of a drama about whether or not the process can go on. Now everyone is focused on who the potential pick may be. You have someone youre leaning towards yourself . Imputing toe sigh who President Trump im excited to see who President Trumps pick is. I talked to him on monday. Brought up a judge from 11th circuit on florida, judge lagoa. She would be the first female cubanamerican on the Supreme Court, first floridian on the Supreme Court. She has a long track record. There are a lot of good picks. Amy barrett is a good choice. Whoever he picks, lets go through the judiciary process, lets do the vote. I want to do before the election day, if there is any issues coming up before the election i would like to have nine justices on the Supreme Court. Well do it in a responsible manner. Hopefully well get a confirmation done by election day. Charles over the past weekend there was a lot of sabrerattling, some really ugly threats made by your colleagues on the other side of the aisle. Do you feel like maybe that has simmered down to a degree . Or do you think there will be some attempts or some intimidation at least used to push this process beyond the election . They were already doing that before the death of justice ginsburg. This is nothing new. They talked about packing the Supreme Court. They talked about getting rid of the filibuster. Look, this is, this is just a radical left. They will do everything they can to change the direction of this country. I mean joe biden has the biggest tax increase in the history of the country. The, i am in florida every weekend when i get home. I talk to people. Theyre tired of you know, joe biden already. Here is a guy that appeases dictators. We had Homeland Security report this week showed his sons relationship with the ukraine individuals. So i mean this is, i think President Trump will have a big win because we want law and order, we want lower taxes, we want a better economy. Well go with President Trump. Charles right. Well, right now it does appear President Trump at the very least has the momentum in your state. I do want to switch gears just a little bit. I have actually taken a lot of republican lawmakers to task about another round of stimulus and many of them say they are opposed to it because at the dont want to pay people not to work. What intriguing that same concern was mentioned several times today in the Kansas City Fed report. Here is one quote. Cares unemployment bonus is killing us. In 20 years it has never been harder to hire entry level employees because they make more money staying home. That is tough. That is from a manufacturer who has job openings. How can congress find a way to thread the needle, help people who do not have a job available and not incentivize folks to stay on the sofa . We shouldnt pay people more not to work than what they were paid in their job. You know a bunch of us when the cares act was passed we fought to make sure that wasnt going to happen. Unfortunately the democrats blocked it. We worked on the bill. We worked all august. All republican senators, 52 out of 53 voted on a bill. Help people lost the jobs. Help our Small Businesses much help schools get open. Money for testing. Money for vaccine. Guess what . Democrats not being serious they blocked it. Charles well, again, with 26 million americans on Unemployment Benefits of one kind or another, something i think still has to be done. I want to ask you about your state attorney general because a pretty dire comment calling the feds to investigate Mike Bloomberg for helping to pay fines of florida felons so they can vote. President trump also calling bloomberg out. Now we know felons can vote or restore their Voting Rights in their state. Is this considered a quid pro quo and still legal what he is doing . Were going to find out. It will clearly go through the court system. Well find out. Bloomberg is going to spend 100 million trying to help joe biden win a state that is not doable. We have all know who joe biden is. We all know who donald trump is. If money would have an impact bloomberg would be the democrat nominee. So it is not going to have an impact. Well find out on the issue over paying fines for felons and it will end up going to court and the courts will decide. Charles all right. Senator scott, thank you very much. Always appreciate it. Bye, charles. Have a good weekend. Meanwhile, folks treasury secretary Steve Mnuchin testifying again this week about the white houses response to the pandemic. This as the two sides, maybe they are inching closer together on another stimulus package. Edward lawrence is live in washington with more. Edward. Reporter maybe a crack, charles. New jobless claims above estimates, 870,000 people needing help, next round ever stimulus puts that in the lime height here. That is the heart of the Senate Banking committee with treasury secretary Steve Mnuchin. Mnuchin saying that pass what can be passed right now making the point he is willing to sit down with democrats and negotiate if they were willing to actually negotiate. Then senator Sherrod Brown said this. You simply didnt step up for these workers. 600 a week, 600,000 people in my state lost their Unemployment Insurance and you essentially, you and senator mcconnell an president of the United States saying 600,000 ohioans are on their own. That is grows misstatement and exaggeration and again if the democrats are willing to sit down im willing to sit down anytime for Bipartisan Legislation in the senate. Lets pass something quickly. Reporter mnuchin says he has spoken to House Speaker nancy pelosi 15 to 20 times on continuing resolution, but agreed to talk at some point the stimulus package. House Speaker Nancy Pelosi says she expects to sit down soon. We have not reduced, in fact some of the needs in terms of the coronavirus are increasing. We need more money related to that. More money for education and we need more money for Small Businesses, restaurants, airlines and many other key priorities. So were going to even need more money or else well have to cut some more things down further. Reporter in fact a democratic aide tells me that the House Speaker directed her Committee Chairman to come up with a scaled back relief package, something they could use to start restart those negotiations. Democratic aide telling me they could, the house could pass this relief package without gop support if the republicans dont negotiate on this, whatever they come up with. I can tell you at this point there is nothing on the schedule, no talks scheduled between the House Speaker and treasury secretary Steve Mnuchin as of right now. Movement here right now, to maybe a smaller pa