Brown, pete nigerian on the phone, erin browne. First, lets check out the markets to see where we stand this hour as the busiest week of earnings season starts to ramp up the dow up just 28 points. Nearly 400 point gains the s p just marginally to the downside the nasdaq up nearly one full percent at this point. 8657 there a key focus for many traders up about 1. 25 at this stage its great to see you i guess i would start by saying the s p 500 is now down 11 year to date. The recovery has not been anywhere near as robust for the median stock as it has been for the gigantic stock in week is what i call the playoffs of earning season the most important stocks to the overall direction of the s p or reporting. You know the names microsoft, facebook, google, et cetera those are really the stocks that i think matter most directionally. This could be a very interesting week its not all bad yesterday was a massive day. Thats what youd want to see. It happened. The iwm had a 4 3rs day. Not much doing out of the large cap. Today theres a bit of follow through. The nasdaq is down small caps look a little better. Lets hope that continues and theres more of a recovery there really hasnt been and when we look internationally we see pretty much the same pattern. This is less about a story of a huge economic or u. S. Stock recovery its more about how well the most highly capitalized, best secular growth stories have done which is really good this is a great point to jump to our nextconversation starte here with stephanie link we have been talking so much about the macro environment we operate in over the past week or two we have seen a number of strategist come out with commentary about how this is an environment that benefits the stock picker. We have 150 possible catalysts in the s p 500 this week about a dozen dow components with regards to earnings reports. As this week is shaping up, how much of this will be driven by some of these companies specific stories and stephanie, youre a stock picker i hope they are right in terms of picking stocks. The market is down 11 year to date it was hard because the maco environment was so uncertain you really had quality on sale you could buy the best and the blue chip, bluest of all Chip Companies at 10, 15, 20 discount which changed is those stocks have rallied quite substantially and now its actually the laggards over the last couple of days that are starting to pick up some steam you look at the banks and the Energy Stocks they are still down 20 on the years. They have out performed in the last couple of days. If you believe were getting more tests, you think youre getting more therapies and you think reopening will be a success, i think you can make a case that some of these cyclical and rekcovery stock ks can out perform. These particular stocks in these sectors are where im focused on at the very moment jim, lets bring you into this conversation now. Lets talk about the predominant theme. Is this rally we have seen are you more constructive on the markets despite the fact it appears as though were maybe running out of some steam given todays price action good question i think steph and josh did a great job covering the cross currents they make it hard to develop an overall theme but i look at the overall theme and i say we probably have gotten a little ahead of ourselves in market overall. Its usually to see a tracement along the way. When i look at the wall of worry that the stock market would have to climb from here a pending interruption in the food supply. Oil prices at 10 a barrel i say to myself that we have come a little too far for that wall of worry. Its time for the market to just catch its breath a little bit. By no means does this mean well retest the lows because the fed just too powerful a force that will keep us off the lows. This is not an environment in which i want to commit capital to work. This is an environment even with the cross currents and the nice resur gejens, im going to be pashts and wait for the market to come to me. Ill say this, its going to be an individual stock. Its individual stocks as they respond to earnings that will tell me where and when i want to commit capital im doing a bit of relative value trade. Im trimming winners in google im picking up new positions where ive really been looking and wanting to add positions and Phizer Pharmaceuticals theres been real out performance in certain parts of the market, certain stocks pete, what stands out to you are there places given the movements we have seen that appear to be places that you want to see. Youre going to skate to where the puck is and that puck will be where in the coming weeks i think youll still see technology perform i think everybody did lay out a good thesis. Last week we were talking about its a good to see a bit of rotation we saw that. If you go back one week and i think stephanie was talk about the financials but look at the movie from citibank, bank of america, jpmorgan. The moves in just a week they have made. They are still well off the highs. We know that were seeing other areas actually take a bit of the baton. I do think there are different yars areas of the market flas have leadership retail continues to be an outmao and lowes. If you look around a little bit there are other areas of the marketplace that are performing very nicely and have shown some great performance. Yesterday the move at lululemon. All were seeing almost exclusively is really short term paper. When i say that, were seeing option trades that go out to fridays expiration may 1st or may 8th. Its really short term stock pickers market, traders market that all fits in tcf financial today, goes out there and their earnings were very impressive. There are areas in the marketplace. Maybe well bring erin into the conversation now it was just yesterday on this program when scott wapner asked jeffrey gundloch about what could happen in the Market Going Forward given the fact we seen so much intervention by the Federal Reserve. You can argue congress with the trillions passed in stimulus measures tied to kor this is what he said about whether we could see another leg lower in the markets no. I think we take out the low. I think a retext of the low is very plausible i just dont think that will happen i think the people understand the magnitude of social im not going to say unrest but social unease, at least thats going to happen 26 million plus people lost their job. Every single job is gone structural and sentiment damage im looking at a headline on cnbc. Com because the conference boa board. It hit a level it hadnt seen in six years. 86. 9 how do we reconcile the market with whats happening with the Economic Data . We know its going to be bad we have undergone the fastest pace of a recession, of time to recession ever in our history. Its going to be a two quartzer recession. Not a four or six quarter recession which is what were used to. One of the lessons that we learned since the Global Financial crisis is dont fight the fed. Were seeing enormous amounts of monetary stimulus coming in but were seeing a pretty significant fiscal stimulus which is unlike what we saw. Were seeing combination of the power from both the monetary and fiscal side. I do think that does provide a bit of a floor for what we can expect for markets while we could see some weakness from here, we come very far, very fast. I dont think were likely to see a retest of the lows even given the fact were going to have pretty negative gdp and pretty negative Economic Data over the next couple of weeks. We have seen earnings expectation falls pretty considerably i think the market is expecting a pretty weak first half of the year Going Forward, i think thats whats going to matter were likely in the trenches of Economic Data. I think you can be a bit patient but i dont think well see a retest of the lows. Josh, id like to get your point of view. We dont fight that. One of the things we havent wanted to fight over the course of the several years is the American Consumer. They have been strong. They have been healthy, they have been spending money but the coronavirus pandemic has really taken some of that Consumer Spending off the table when it comes to discretionary items is the American Consumer going to be able to get with it quick enough to spend enough to get the u. S. Economy jump started no. I would lose the term jump start from our vocabulary this year. I think its important to point out the American Consumer is still consuming but the recover will be uneven by industry type. Tourism is a huge part of the economy of places like new york city, los angeles, las vegas those dollars arent coming back this year. Thats a statement of fact almost by law, theyre not coming back this year. Thats a big chunk i read somewhere it could be as much as 11 of Consumer Spending in some regions. Thats not going to happen apparel sales like could they bounce from march and april some time this fall as people feel better about themselves and go out into the world of course they could bounce. Thats not indicative of any sense that the consumer is going back to a department store, at least not in the size they used to its really hard to say Consumer Spending and paint that with a broad brush because i think its going to be so uneven by type. If you own a grocery store, theres a better chance of Consumer Spending recovery than if you sell sweaters in the mall i think we all know that i think its obvious we have to remind ourselves of that because it will be tough for some versus others we hear stories about how people are trying to clear out inventories. There havent been a lot of spring shopping so spring shopping is going on fire sale trying to move that out so they can bring more stuff in. Some retailers are cancelling purchase orders for goods coming in in the coming months. Is the real rtaretail rally somw can hang our heads on . There are pockets i think theres some winners and losers i wouldnt touch a department store, for sure. I think any of those other sub sectors i would. Last week i bought target as a new position when it gave us the latest quarter update. Remember they pulled the guidance this march. Last week they gave us an update it was mixed, good and bad comps are running up north of 7 for the company. Digital comps up 100 . Thats not a consumer thats rolling over in my mind. The negative was they actually, the implications are that earnings will be down because margins are under pressure because they are heavily investing and mixed. They do have more apparel than consumerables. Theyre in the right places. I think they will be able to grow earnings off of this very low base year, this year to next year of about 22 growth the stock is down 18 . I took money off the table of walmart and put it into target walmart is Great Company but its up 24 from its low i can find places within consumer and you have to dig thats an interesting relative value trade there getting out of walmart and going into target. Jim, lets bring you in here im looking at a note coming from the Strategist Team over at jeffreys they are looking at a list, if you will of companies and stocks that hedge funds have now kind of switched direction on they have gone from short to long or short to long. Apple, auto zone, cvs are some of the stocks that have gone from net short type of situations to wanting to own and long time situations jim, you own apple you also own cvs as well do any of these companies that have now shifted from short to long as youre seeing on the screen right here resonate with you given the holdings you have in places like apple and cvs its an interesting question. If we look at apple, in the short term we feel pretty confident that iphone sales are going to decline year over year. That says nothing about the long term trend for 5g when we get into 2021 where its a pretty robust picture i want to point out this out that to the average viewer of our show, seeing that news doesnt mean you should go sell your apple apple is great long term hold. There are a heck of a lot more medical claims regarding coronavirus. In the long run, as you look further out, youve got an aging demographic. You have a great pharmacy benefits Manager Program in cvs. You have a vertical integration between health care, pharmacy benefits and retail in cvs that makes it a great long Term Investor it shouldnt be surprising that i advise ou viewers dont pay too much attention to the wrangling of hedge fund. Look for the investments and those are two great examples we mentioned apple and cvs. The one name that came across as standing out to me on the list are stocks that have gone from a short type bias is the big bank, Jpmorgan Chase what do you feel about that particular stock and perhaps financials given the fact were seeing a little more positivity come back towards some of these banking names . Jamie dimon came out and did like an hour long q and a. One of the points he made was about shadow banking, shadow lending, prooifivate equity firo venture backing start ups that are making loans to people based on nontraditional metrics that people were afraid was crowding the banks out. Dimons said look, these none traditional lenders and supposed competitors of ours will come. They will make loans and when the going gets tough they will stop they will not stand behiebnd credit lines are you investing in a company thats been through a crisis or two before with the same Leadership Team in tact and do they know what they need to do in setting aside loan loss reserves double and triple checking who they are making loans to i think this is the type of stock that should get more crowded. This is the type of company thats proven its ability to get through times like these i dont think the recession is anywhere near being over i dont care what the stock market does. I want to stay long and i would rather be in that than a more, lets say, a riskier play in finance even if potential up side from here is higher i want the safety and security all right safety and securities is concern there especially when we have an Interest Rate environment that keeps drifting a little bit lower. Erin brown, lets bring you into the conversation lets talk about whether or not the environment that were currently in from an Interest Rate perspective, from a fed perspective, Everything Else is actually constructive for these banks. Maybe just outside of jpmorgan and citi is it constructive for the overall industry as a whole, the regionals included and your take on that. Ive been starting to look at the u. S. Bank stocks they are down about 40 year to date and under performed the s p 500 pretty significantly nap was driven by a couple of concerns one, with coronavirus. The impact that its going to have to bank lending i think people were concerned about pretty weak numbers. The loan loss provision that they will have to take as a result of some of the forbearance of loan loss i think lot of that bad news has already been priced into the stocks the stocks right now are trading at. 78 times price to book if you look at the Regional Bank index. Thats the lows that we saw during the Global Financial crisis the position of the banks today is significantly better than what we saw going into the Global Financial crisis. Clearly they learned as josh talked about, they learned lot of the lessons with respect to the Loan Loss Provisions a lot of the Bank Regulations has mandated that they run significantly higher in terms of the Balance Sheet flexibility than the positions they were in 2008, 2009 i think they are much better capitalized. They already, i think they have been discounted pretty significantly. As a result i think that the banks offer pretty good value here given where they are trading on a price to book basis. I do think that with the yield curve starting to steepen now, that also will help the net interest margins of the bank to me, this is one of the value sectors that i think is most attractive i want to focus a bit now we talked about financials and some of the technology stocks. Theres also perhaps a bit of a down side bias in some of these names as well. I go back to this because we talked about the short bias to long bias names that the ones we just brought up here they also got the opposite side. Those that have been a long bias before that are tilting towards the short bias with result to some of these hedge funds. Two of these names are ones that you have been active with. Up with of them is Gilead Sciences this is jeffrey says, their analyst team says they have seen a hedge fund tilt from being long biassed or owners to short biassed or sellers Gilead Sciences is one of them chevron, when it comes to major oil and gas producers, chevron is on that list as well. Youre active in both stocks tell me what you think about whether or not you believer gilead or chevron are still owned at this stage . I think chevron is a difficult one. Its one im willing to deal with because we all know, we have been following this story the new story about whats going on with oil is absolutely incredible obviously, thats continuing to play out even today. Chevron is a difficult one but i think of all the majors when it comes to oil i think chevron right now is the premiere thats my rational for that one. I like it a lot. I think theres potential promise there. We talk about natural gas and a lot of people lose that side of the story in terms of some of the big majors and how much exposure nay gained over the last decade in the natch cal gas space. I think thats something that gets lost along the way. When it comes to american express, i look at that name, it still trades cheap i think its very inexpensive. Theres another name on thissco the upside i think fintech is a really interesting spot this is one of those names where its almost a must have. Its a range i look at paypal as you buy it a 100, you start getting light its been crazy. Obviously tied to a lot of the news about whats been going on with the pandemic. I still think the trade inexpensively. Its had great run to the up side ive been in it. I got out. I got back in. I pulled back a back we continue to see incredibly large option of players in the gilead space were talking about something out there an continues to be out there is saying if things go well with some of these drugs they are working on, they think this is a company that will be in the triple digits, not in the single digits. I want to take that opportunity because were talking about Gilead Sciences and whats happening with coronavirus headlines. Lets now go to new York Governor Andrew Cuomo who spoke moments ago about the latest coronavirus numbers. Lets listen in. Its down a tick which is good news. The change in hospitalization is down number of intubations is down. Number of covid hospitalizations per day, these are new people who are newly diagnosed with covid, its under 1,000, which is good news its still a significant number of people. 900 people we still have 900 new infections yesterday. Overall, you see the numbers coming down. Thats good news this is the worst news i think maybe today is the day the nightmare will be open but its not 335 people passed away yesterday from this virus in this state. Thats 335 families. You see this number is reducing but not at tremendous rate the only thing tremendous is the number of new yorkers who still pass away. Every one is talking about reopening. I get it you cant sustain being closed the economy cant sustain it the individual families cant sustain it we cant sustain it on a personal level our children cant sustain it. We have when we talk about ro reopening, this should not be a political discussion it shouldnt be a philosophical discussion it shouldnt be because people are protesting some people want it, some people dont want it. That was new york governor giving the daily update on the coronavirus. It appears as though some of the trends are sticking to the downside with regard to hospitalizations and deaths. The number high. Its moving in the right direction. Speaking of, the medical industry overall phizer ceo spoke with meg moments ago about the coronavirus. What did he say about what can happen in this industry and what exactly are they doing about it . One of the things we really focused in on is the Vaccine Development for covid19 its partners with a german billi biotech company. They are starting manufacturing now hoping the vaccine will turn out to be successful they are getting the manufacturing capacity into place. Theres all of these geo political concerns i asked about any kind of geo political pressure hes feeling from government. He said he isnt feeling the pressure but feeling anxiety just trying to speed this along. They are spending 650 million in investment and 150 million in Capital Expenditures to get the manufacturing up and ready they plan to be able to supply millions of vaccine doses this year if all geez weoes well hundred of millions of doses in 2021 i asked about their outlook for the year ahead as they did reaffirm their 2020 guidance they see if we see a second wave, we should be better prepared to handle that. Back to you. Thank you very much jim, youre an owner of pfizer stock, how do you feel about it . Is this something you want to own longer term given what were in in terms of the coronavirus virus regime in billion o billion o bio pharma and big pharma theres this issue of coronavirus. They working on a videocassette seen here is what i think is likely i dont think this coronavirus is a one off event who knows. Maybe china wipes out these wild seafood and animal markets it seems likely to me these sort of viruses will come up again and again and pfizer has a robust platform. They are well known for their prevnair 13 vaccine in is a very strong, very well capitalized company. This is where the wormd is right now. Absolutely a Great Company to own. A low multiple which is because they do go through a lot of Investment Banking they acquire companies that sometimes makes it hard to understand pfizer but its a great entry point for the name thank you for those thoughts. We have even more breaking news because President Trump is speaking about the Airline Industry and the nations food supply the president addressed a couple of issues the issues around the maeeat supply he has an executive order that will impact tyson foods. This is related to a reliability issue for tyson. Well have to get more detail from from the white house about what the president has in mind he does say he has an executive order coming that will help address some of the meat supply issues on the airlines, he says hooe working with the airlines on the question of getting testing from people who do fly depending on how quickly people will return to the air we dont know. That process will be made easier if there can be testing around passengers there larry kudlow suggested the president is looking into the idea of a middle class tax cut doing research into how that might roll out that one is longer away. The president would need congress to do something there the other ones can be done with the federal government and through executive action so he wouldnt need democrats up on capital hill to agree to whatever hes got in mind in terms of testing for airlines and the meat supply. Back over to you thank you very much the fed policy makers meeting to discuss the next steps to discuss the struggling u. S. Economy. Remember, you can always watch or listen to us live on the go on the cnbc app. Halftime is back after this. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. Some news here, trip advise cutting 25 of its work force. More than 600 employees in the u. S. And canada. Its the latest travel company to make these type of restructuring changes including layoffs due to the ongoing pandemic expae expedia announced furloughs. Royal caribbean has cut its work force by 26 thousands of workers furloughed at the major hotels. Its one of the reasons the hotel trade body sent an urgent letter to congress signed by 13,000 hotel owners requesting additional sba funding for the hotels back to you. Thank you very much for that update the fed is kicking off a twoday policy meeting today steve joins us with the interesting results of our survey 1 take a look at the average forecast for the Unemployment Rate not seen peeking out until august 2020. Stays elevated even states elevated at 2021 ending that year at still 7 or double where it was before the coronavirus hit. Fed and congress put in five trillion 3. 4 from the Federal Reserve that would bring the Balance Sheet up 10 trillion congress and another two that bring it up near 5 trillion all by itself. Theres two views on the outlook here and the recovery. Robert morgan Still Holding out hope of a v shape saying production and consumption has been largely deferred and not lost this levers you to believe the economy will face a v shape recovery risk markets are anticipating a faster return to normalized Economic Conditions than we are likely to see. In terms of the Feds Fund Rate the anticipation stays a ts zero for the rest of the year and rises ever so slightly in 2021 to 0. 4 . Its going be a long drawn out process. Thank you for the latest results. A number of states have begun roping processes and businesses and former fed president Richard Fisher is part of a task force set there to reopen the texas economy. He joins us now on the news line thank you very much for being here you know the last time we spoke it was because of the pain in the oil and gas industry in texas. Its gone a long way even further south than that now. Texas and the rest of america wants to get back to work. How can it do so safely starting in texas thanks for having me on we produce 5 Million Barrels a day. This is a very diversified economy. The governor, yesterday, is working double time, overtime on this stuff made his announcement for initial openings for the texas economy. Why is this important . This is an economy thats bigger than canada. Its bigger than russia, than south korea, bigger than awe stra australia and spain. I think its an important case study to see how this proceeds we saw an earlier report before your show on simon property. They are the largest mall operators in the country 49 malls they are opening up 21 of those 49 malls are in the state of texas. I would be watching this carefully. Hopefully it will be a good case study for other states in and of itself, this state is very important to the u. S. Economy. Were 20 of all exports from the country comes out of one state, texas the governor is working very hard, as is our task force to work principally driven by medical guidelines in dealing what is safest for our citizens. It informs us that we likely to have a u shaped recovery were trying to shorten that here in texas. It still takes time for businesses to reconfigure and well have to study this to see what we can learn. You bring up the idea that texas and its size is massive when it comes to the restarting of the u. S. Economy. Half of u. S. Gross domestic product comes from eight states. Its california, texas, new york, florida, illinois, pennsylvania, ohio and new jersey these are the restarts that must go well in order to bring the American Economy back quickly. Texas, obviously one of them what else needs to happen with the other states extrapolating beyond what is happening with texas . Theyre all going to have to be guided by the medical guidelines the guidelines of science and data thats what were trying to do here its twhat the governor is tryin to do. Were the second largest in the country. California is number one new york is the Financial Center of the country and the world i would argue were the heartbeat of the capital system. Its important, with 29 million people, 10 million more than new york that we get this right. Thats what were trying to do here its going to be a slower process. Were doing it gradually the governor is gradually opening up guided by medical guidelines i think theres a good lesson here to understand the shape and recovery for the rest of the country, including those other states as well they all have to do it according to their own needs, mortality rate, infection rates. Were just trying to bend the mortality rate of the business and revive it and doing it according to medical standards the cnbc viewer knows full well what is happening to the oil and gas industry overall globally but whats happening in texas right now. They have been watching our air consistently lets talk about free markets and Government Intervention. There will be a mex of things that need to happen to make sure the u. S. Oil and gas business survives this and is able to support the u. S. Economy Going Forward. What is that mixed coming from the like offense a former fed reserve president in dallas, texas . I would say the state of texas has the least amount of Government Intervention in its own economy. Were very Free Enterprise issue executive orders that are have suggestions and guidelines for how people should open up. They have the own effort to provide Additional Guidance but businesses will develop according to what their needs are and long term prospects. This is where we had that experiment taking place. With regard to the fed, the fed will expand its Balance Sheet dramatically its been directed by congress to do certain things that undue some of doddfrank and section 133. They doing everything they can within a central bapg context to get funds out and encourage banks to lend funds to the think whether its in this state or any place else well probably get a bit of guidance coming out in terms of how they expect to proceed right now they are trying to get it right i know shes got some questions for you as well. Thanks. With the i think id be remiss if i didnt ask you about the fed meeting tomorrow clearly the feds are at the lower ground and put in a number of additional fed facilities in place to provide liquidity to the market im really curious your thoughts on what now. What step dos you think the fed could take from here to provide Additional Support im curious on your recommendation and how you think about what steps or what tools the fed could do to further enhance liquidity and provide support to the market . Well, first of all, they pulled everything all the shelf. That was critical. The congress is given them Additional Fire power and undone some of the restrictions they posed on us after the last rescue package i think the focus is on getting it right as far as guidance is concerned, that is important. Im sure they will be in the press conference some comments on guidance Going Forward. Theyll also be asked about the Balance Sheet for sure i do expect it to push up to the ten trillion dollar level and then i think the last thing that is important to remember, you know this better than i do because youre in the markets and that is the fed does not control the yield curve to the extent it used to. The tenyear is being determined significantly by markets and people rushing to either hoard u. S. Dollars securities or build their cash pipelines thats whats driving the tlar weve had a strength in the dollar up 25 since december 2013 this year about 3. 6 it keeps adding onto that. I think this has to be born in mind in setting monetary policy. Well have a strong dollar the market will direct money into u. S. Dollars. That helps the treasury and helps down the cost of financing and the deficit spending emergency measures we have to take richard, i want to bring in josh i know he has a question for you as well. Josh brown josh. Hi, mr. Fisher. I have a philosophical question. We have seen financial crisis reshape society in the past and i expect this time will be no different. A lot of the social safety sunset came abonet came about as what happened in the 1930s. Were almost defacto playing with an experiment of universal income when you look at the expansion of benefits, it turns out 50 of people are better off not working than getting their old jobs benefit, that extra benefit goes away in july. What if it turns out the Business Community looks at what goes on this summer and decides this isnt so bad. Thing isnt. We had skumconsumers we never thought would come through the doors or websites buying things in ways they hadnt before could we see ubi gain ground among republicans and dare i say even libertarians as a result of this crisis . Well, clearly is changing the way the economy is structured and there is a tendency towards what you just spoke about. It is noteworthy that people can make more money not working at least for a couple months here than by working but i think there are other things that are changing and are structural changes in our economy so employers, for example, whether forprofit or not for profit or Government Entities required to Going Forward with sanitary norms and cleaning and spacing and new ways of interacting, communicating, et cetera and postcovid changes in behaviors and demand patterns of consumers of goods and services and will impact that and more changes taking place and businesses will have to adapt accordingly and workers have to decide when they feel safe to come back in the workforce we are focused on that heavy here in north texas, particularly city of dallas which is the biggest job generator within the job generating state in the union but youre right this is a gradual socialization. The question is how long you can stay on and do we have the capacity to reverse it over time a big question for sure thank you very much, also thanks to erin browne your questions next. Go to cnbc. Com halftime. We are back in two minutes ever since weve gone mobile on the now platform, somethings gotten into the office. I hear you. Feels like theres no barriers between departments now. Servicenow. The smarter way to workflow. Edward jones is itswell aware of that. Et. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. All right. Welcome back our traders answering your questions. Josh brown, to you first, david on twitter, which stocks might be under the radar right now so i have a reit i think fits the bill i own a reit called Invitation Homes, the largest owner of Single Family rental houses and theyre in the hottest job employment markets in the country, 80,000 houses so if you dont want to live in an apartment, get out of the city and looking for the suburbs, this might be a better option than trying to buy a house so my guess is this is an underlooked idea that absolutely fits in in the age of coronavirus. Invitation homes there. From chris in pennsylvania, this is for stephanie link. I bought Lockheed Martin in early april and rebounded well considering the recent earnings report, would you hold or take profits and reinvest i would absolutely hold the stock and on any dips buy more, actually they had a very good quarter, good guidance. A book to bill of one. Mar generals have upside very good visibility insulated from the pandemic. This is a name to own. All right from dave in boston, massachusetts, jim, you often speak of Portfolio Management an trimming dont you feel like this philosophy erodes profits . Shouldnt we just buy and hold hey, dave, sometimes the stocks in a portfolio that underperform you want to add to them if the thesis didnt change and find capital with which to do that. Thats why i trim winners. Your question is a good one. The secret is not too often. You have to let the winners run an then use them as a source of capital for the withins that underperformed. Pete, jimmy of tampa, is canada goose a buy at these levels i own it. Trading a forward of 21 times. Very inexpensive premier brand and plenty of upside downsides been seen. All right those big calls, thank you very much for the tweets and if questions. Final trades by the ways are next keep it here on the halftime report. Since 1926, nationwide has been on your side. Weve been there in person, during trying times. Today, being on your side means staying home. Nationwide office of customer advocacy. But we can still support you and the heroes who are with you. Were giving refunds on Auto Insurance premiums, assisting customers with financial hardships, and our foundation is contributing millions of dollars to charities helping with covid19 relief. Keeping our promise to be on your side. Has stood strong through every dark hour and bright dawn our country has endured. It has seen the break in the clouds before anyone else. For the past 168 years, weve also stood by you, helping you weather storms like this one, to protect your loved ones. And well do it for 168 more. I came across sofi and it was hthe best decision of my life. Like this one, i feel cared about as a member. Were getting a super competitive Interest Rate on our money. Were able to invest through the same exact platform. I really liked that they didnt have any hidden or extra fees. Sofi has brought me peace of mind. Truly thank you for helping me prepare for whatever the future has in store. Breaking News Coverage continues tonight with a special report, markets in turmoil tonight 7 00 p. M. Eastern time lets get to some final trades josh brown, well start with you. Ill just reiterate Invitation Homes decent yield, very, very smart way to play the flight to the suburbs that i think will take place. Stephanie link. Intel, very good quarter. Theyre hitting the stride in cloud, networking and 5g i like that name. All right jim, to you. Berkshire hathaway bshares macking investments that well see coming out. Pete najarian, to you pete all right. I think we lost pete najarian. After the closing bell today, big earnings reports of alphabet, parent of google an starbucks. Two stocks to watch in the afterhours session kelly evans picking up the breaking News Coverage and she starts that coverage right now thank you, dom welcome, everybody, to the exchange. Im kelly evans and stocks are searching for direction struggling to make a fifth straight day of gains. Dow up 380 at the highs but up 70 right now s p up 1 point and the nasdaq turned negative by 61. Energy is weighingon sentiment again with an another wild ride for oil. One point today we fell 20 to a low of 10 bucks a barrel right now trading just under 13 for a half a percent gain. Richman fed sentiment sinks. Cons