Navigate it all. With the clock ticking, get reaction from republican Congressman Ken Buck from colorado. It takes a lot of guts and a lot of innovation to start a business during a pandemic. One man is doing just that, very inspirational story coming up. All that and so much more on making money. Charles so for the most part the market has been elevated all session long but obviously on pins and needles which plains the rapid air pocket we saw earlier in the session where there was a tweet that nancy pelosi sounded very skeptical about a deal with steve mnuchin. I suspect it was strategic tweet as both sides are using proxies to move the market and gain leverage but beyond the drama in washington, d. C. , there is lot of mostly positive news on the economy and stock market today. Initial jobless claims came in better than expected. As they continuing claims was dropped by almost one million in just one week. Consumer spending came in much better than expected even as incomes declined. Ism manufacturing report slightly below consensus. The fifth consecutive month by expansion, driven by strong improvements in employment. Construction spending crushed consensus led by Single Family homes. Auto dealership and parking facilities. All the major indices are higher. S p 500 got up to the resistance point i keep telling you about. 3400. Then it stalled. You can you cut tension with a knife. Where does the market go here lets ask walser Wealth Management rebecca walser, gibbs Wealth Management erin gibbs, senior advise with Payne Capital management, a group im not affiliated with, courtney dominguez. They woke up to the possibility that congress will not come through with more stimulus. They believe stuff out of d. C. But are the smartest folks in the room, wall street going to get played again by con vest . Oh, charles, i certainly hope not. It would be really ugly picture if we dont get some stimulus here. We need it. Like we talked about disney coming out saying 28,000 jobs. We know united. We know american. We got to get some stimulus. Were banking on it. It has got to happen. I dont want a bad deal but we need some deal. Charles erin it, felt like in september wall street, a lot of that selling was a message to congress, hey, get your act together. In the last few days, okay, felt like maybe something was going to happen. Now were on pins and needles. Where does it go from here . September was that moment where we saw a crack in the momentum and more of a value play. I think were going to continue to see that. I think investors might still be a little disappointed by whatever stimulus plan weve got. We see a lot of wall street with money staying on the sidelines, not just really full. There has been a lot of low trading volumes. We need to see a huge stimulus plan for everybody to jump back in. Charles courtney . Yeah. Kind of the take more optimistic stance here. I do think that the stimulus really is needed because there are a lot of people who are out of work still. Even though the economy is recovering there are still people who havent had paychecks for quite a while. When you look at the economy or stock markets, i dont think theyre as dependent on the stimulus package as much as a lot led to belief. Were saying with the stimulus come in we are seeing vshaped recovery in gdp. People are still spending. People have done a really good job of putting themselves in a good position to weather through even with all the ups and downs, if the next stimulus package will happen. Charles right. People paid down a lot of Credit Card Debt which is why theyre still spending right now. I dont want to go on longer but i think it can sustain a little bit longer. Lets follow up on that, talk about the consumer. To your point, courtney, spent a lot more money than wall street thought they had. The spending report came out today, but it did come at expense of 700 million, no, yeah, 700 billion, rather in less savings. Obviously that is a trend that cannot continue without at least another jolt of some sort of fiscal health. Ive been telling investors to look at brickandmortar survivors, including bed, bath beyond without a stock to me is stock of the day. New management turning the company around big time. The shares are soaring. Erin, i want to go back to you again, ive been talking about buying brickandmortar survivors. Theyre doing very well. What are your feelings on some of these names . So, really for me, home is where the money is and so, i like to break it out, not just brickandmortar, but the companies that, not apparel guys, but companies are really focused on home goods. So bed, bath beyond is a great example and i recommended home depot and lowes tons of times. Also, the people who make all those things at these retailers like newell brands. They make are upper made, mr. Coffee, all the things you buy at bed, bath beyond. I also like scotts miraclegro. As you move into the single homes you have a lawn and you got to take care of it. I really encourage people to think out of the box and just, really focus on idea of moving from multifamily homes, apartment dwellers into Single Family homes. Charles right. Neil what are all the things you need . Including auto sales. So i think thats where were really seeing the strength in the market. That is where my concern comes back with a stimulus, industrials are really hurting but the consumer is still doing okay. Not great, not as bad. I really want to focus on home and Consumer Spending on the homes. Charles right. Folks, make sure you look at those omni channel numbers right . So in this case, these guys were able to turn around the digital sales. I want to talk about something i dont think is getting enough attention, right . The u. S. Dollar. I know it is patriotic thing to say we want a strong dollar. When it is weak, investors make a lot of money. It is not just stock investors. Rebecca, so tell me, is there a sweet spot where multinational, u. S. Multinationals and investors can benefit yet the dollar retains the reserve currency position which some people were worried about as it was in freefall, Everything Else was going through the roof . Yeah. Charles. We need the sweet spot, right . The dollar is too strong, obviously becomes our goods overseas become too expensive. You have a lot of problems selling u. S. Goods overseas. When the dollar is weak, we have a weak economy, where is the safety haven. Where are all International Investors flee to the dollar when we need safety, when the market has volume silt. I do expect coronavirus and we have no stimulus. We want dollar to be strong. Beacon of safety for investors around the world but dont want it to be so strong, hurting our exports and manufacturing at home, exporting out. It is too expensive against other currencies. We have to watch that, charles. Make sure were, you know benchmarking a strong dollar but not a overpowering dollar. Right. You know, courtney i would like to see it come down a little bit more. I think, if you look over last few years, i think there is room for it to come down. I know it is not politically correct to say so but how does it inform your investing . There are certain parts of our portfolio it will help to your point. Like International Markets are really good beneficiary of that, where they actually have underperformed the u. S. Over the last decade, they are usually a part of that reason because the dollar has been so strong. Seeing the dollar weaken will help things like international. It will help things like commodities. Gold and silver. Making sure you have a piece of those in your portfolio will actually benefit from that happening. It is something we always want to make sure we have a piece of. If it comes down, i agree it can be beneficial thing. Charles right. All right. Ladies, lets look beyond stimulus and politics, right . Push it out a little bit further. Everyone agrees, right. We have something in most categories. The Economic Trends are phenomenal. Earnings expectations for 2021 are phenomenal. Erin, it really seems to me to be a fantastic case for a strong stock market in 2021. Your thoughts . Yeah. When i look at the expectations we have seen. Massive contraction for 2020, and then complete rebound and, that expectation has stayed pretty stable so i am actually try to look at where are the sectors that are going to be ones that really beat . We know we have these super High Expectations info tech and communications. So where are going to be the opportunities that are surprise opportunities in 2021. That are really going to blow up the numbers and so those are ones im thinking where analysts have been consistently underestimating those can be your real winners and Consumer Discretionary looks to be one of those places. Charles all right. Lets leave it there, ladies, rebecca, erin, courtney. Thank you very much. Always appreciate it. Last minute stimulus horsetrading between democrats and republicans have everyone on pins and needles. I will ask congressman kept buck what happens next. One company says no to corporate virtue signaling. The ceo believes it its Mission Statement so much he offers exit packages for workers that dont agree. Should more ceos follow that lead. Tweet me cvpayne because i love this guy. Well be right back 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 got 1 1 2 trillion dollars, that is the price tag. I think were running out of steep. I think we need the extra nudge. Telling now it will be 1. 5 trillion. I said it from day one. It will be Something Like that when it happens. I think the white house may get this done, letting it bone theyre okay with 1 1 2 trillion dollars relief efforts. I was saying this summer, folks, long before the standoff, estimatelous deal will be 1 1 2 trillion dollars. That is exactly with were hearing the white house is proposing now but nancy pelosi saying were still not in agreement. Will this ever get done . Colorado republican Congressman Ken Buck. Congressman buck, i interviewed a the lot of republican lawmakers many have misgivings, some dont want to pay people not to work. Others feel like things are okay. I am concerned, if you look at tea leaves, the growth, the vshape is there, but stalling enough to make me worried where we could be caught flatfooted. I think irony is, ultimately, if congress doesnt act now the final package will be substantially higher . Well, right now, charles, were looking at the blue state bailout. Nancy pelosi is trying to help her donors in california and new york this has nothing to do with helping businesses to make sure growth continues. This is all about a political move right before the election to try to push the democrats over the top. This is a political institution, not an economic institution. While we should absolutely have the economy in mind, we should have Small Business owners and those who are unemployed in mind we cant allow Speaker Pelosi to pay off her Campaign Contributors in this way. Charles so what do you tell the 26 million Americans Still getting Unemployment Benefits . You tell them good luck, we dont want to help democrats, good luck . No. We dont tell them that at all. We tell them were absolutely there. From the very beginning weve been doing our best to make sure were helping those who are unemployed and were helping those in business, particularly Small Business. But we cannot continue to spend money that we dont have. If we do well go off a cliff, well be hurting a lot more than under covid. Republicans are trying to act responsibly and compassionately. Democrats right now are acting politically. Charles i have lost track of where the deficit is, where our debt level is. Its, i get it. I understand. And i remember all the warning signs, even when president obama was in office. I was one of the people sounding the alarm but it feels like this is a little bit of a different circumstance. Im not sure the last time we had 26 million americans getting Unemployment Benefits. There is some permanent structural damage to our economy. Businesses that have gone out of business and wont come back anytime soon. Is there any bridge for those folks, those former Business Owners and their employees to get through this . I think there is a bridge. One of the issues that we have to resolve, states are shutting down the economies. Governors are shutting down the economies and federal government is expecting to pay the bill. I think at some point governors have to recognized federal government isnt going to come in with a bail out for state and local governments. That the responsible action right now is to open the economy as much as possible in a safe way, to make sure were helping those businesses by getting them back into business, not keeping them out of business. Charles i agree with you 1000 percent. So custodies any. Disney put out a scathing statement about the state of california. The main reason theyre laying off 28,000 workers. Also ironically enough states that are open, the state has are letting kids go to school, also the one of the few that are seeing covid cases go down right now. Arizona, texas, georgia, florida. All of them have Unemployment Rates below, below the national average. Theyre mostly for the large part open. So im with you on all of that. I just worry about the folks getting caught in the middle ever this because it is millions of people and it is dangerous. Let me before, i know we want to talk about this, you sit on the house antitrust subcommittee. There was a hearing on the big tech companies, rather, and these consumer practices. Your democratic colleagues want to potentially ban them from competing with other companies on their own platforms. What is the ultimate solution here . Because even with the Senate Taking action today the stocks of those companies were higher . I think the solution here to make sure we give the resources to the antitrust division and the federal trade commission. I think the solution is to make sure that we give them the tools they need in terms of the law. Congress doesnt break up companies. Congress doesnt determine competitiveness in the marketplace. We have shown a light on the bad practice and now our job is to make sure that the enforcers, law enforcers in the executive branch have the ability to do what they need to do. Charles congressman buck, thank you very much. Always appreciate it. Thank you. Charles folks one ceo doubling down on his own companys antipolitics stance. He is even offering a exit package for workers that dont agree. I wish all ceos would do what he is doing. Also the ipo market partying like it is 1999. How big will the celebration go. I will talk to the youngest female trader on the New York Stock Exchange right after the break. Hi, im dorothy hamill. As i look toward 65, im thinking about medicare. I know i want coverage that connects all the different parts of my health care to keep me aging actively. Aetna Medicare Advantage plans offer 0 monthly premiums. With benefits like dental, vision and hearing. And telehealth so you can see a primary care doctor from the comfort of home. Keep doing what you love. Thats the aetna Medicare Advantage. Call today and well send you a 10 visa reward card with no obligation to enroll. Charles the ceo of coin base taking a hard stance against corporate virtue signaling n a blog post outlining the companys stance on social and political issues, Brian Armstrong writes in part, we dont engage here when issues are unrelated to our core mission because we believe impact only comes with focus. In regards to politics he writes, we dont advocate for any particular cause or candidate internally that are unrelated to our own mission because it is a distraction from our mission. Coin base is offering a generous severance to employees who decide to quit over the no politics policy. Joining wall street journal opinion writer, jillian melchior. I got to tell you it is so refreshing to hear one company draw the line, no were in business to provide great products and services for our customers and well not get into virtue signaling thing or this politics thing. Yeah, i think youre absolutely right. What were seeing in the last couple years the politicization of everything. Corporations that were politically neutral, including the work space, were being pushed into increasingly radical stances. I think it turns off people. When they take a stance like youre isolating at least half the country. Coinbase is smart to take a stance. I think a lot of employees are breathing a sigh of relief, that they dont have to be pushed into a political stance in the work place. Charles you know, i teased this segment, someone tweeted watching the show, on the corporate virtue signaling, corporations are ruled by many gods not just in the boardroom but also stockholders and customers in the street literally and virtually where wares are marketed and sold social contracts exist between all groups. Measures need so when people say, companies are obligated to do this, you know i look at it in a little different way because i believe a lot of companies are going through the motions anyway. Either they write a check. They will put a label on something, instead of taking true action that might change a particular companys culture anyway. So i dont think it is even virtue signaling that most of these companies are doing. Yeah. It is interesting watching the pressure that Companies Feel that they have to virtue signal, i would remind ceos the