Its a mixed day stocks reacting to the vaccine news josh, it seems funny to ask the question about tech on a day i showed you the index is having a nice bounce back day since that index hit its high on monday, 13th it hasnt traded all that well what do you make of that well, were working on josh browns mike maybe he did that on purpose since its my first day back joe, do you want to take that same question . There we go. I was going to say this is going well so far. What i said was first of all, welcome back technology can you hear me i can hear you. Amazon was down 12. 7 . Amazon was down that its 1999 all over again understand that 1999, once the names like microsoft rolled over, they were in a multi year decline where technology under performed. Thats not the case well be witnessing right now lit be a pause that refreshes. The fundamentals are strong for Technology Technology is the economy and there you go today, youve got amazon recovering 6 of the 12. 7 decline it witnessed last week sdm jo josh, i go back to you. Do we make anything of the way tech has traded since it had that intraday high on monday the 13th no. These were over bought stocks. They should have these types of periodic pull backs. One of the bigst problems people have when they try to play this game whether or not tech is topping is they fail to understand time frames they look at like one or two days action and formulate an opinion about a trend thats been enforced for five years what are you even talking about. Look at a weekly chart for heaven sake before trying to determine if a five year trend is peaking or topping out. Look at a monthly chart. Give yourself some context if you really want the play that game about like are we topping out, are we topping out. Just understand people have been playing it for a long time we were doing shows in 16 and 17, and 18, is this it is this it look for something they call a lower high if you really want to play what is a lower high you have these sell offs you see the stocks rally back. Do they fail to get back to the previous high before the next sell off that would be an interesting moment to maybe ask yourself, maybe we saw it was as good as it gets and now on every subsequent peak stock prices top out at a lower level maybe thats the time to say were now in a down trend. Its lit rally impossible. Literally impossible its kind of hard to think that tech could top at the same time when the virus remains an issue in so many different states as long as the game is played the way it has been, why couldnt the stocks couldnt to be the way it has to be. I think as an investor when you take a step back and say im going to be agnostic here and look for the companies with the strongest Balance Sheet, it takes you back to the nasdaq 100 with apple, google, facebook, microsof microsoft. Were taking a pause here. If you take a step back, whats been so incredible is year to date through friday. The nasdaq 100 is up over 17 while small caps, if you look at the s p 600 is down 17 . You have this 34 delta between the largest of the large cap tech and small cap i think its very normal for people to continue to have some type of rotation, to own some of those beaten up names. I dont think well continue to have bull market over the next few years and tech wouldnt participate. Once again those are the strongest Balance Sheets that in the world, not just in the u. S amy, it doesnt matter if the stocks have run so much. If i read you down the market cap increases year to date, its pretty stunning. Amazon, 561 billion change in market cap year the date apple 365 billion. Microsoft, 335 billion tesla, 203 billion and google, 1 112 billion. T matters. The stocks cant go up into perpetuity they have a scarcity premium. People dont know where to go and hiding out in these stocks i think a lot of passive investors would be surprised if they looked at the index and saw for every dollar that they are putting into the index at this point, six cents goes to microsoft. These stocks are getting too big. They are getting too expensive i dont know when the top will be entry points matter. Remember in 2000, walmart was trading at 40 p e. It took 13 years for the company to get back to that price even though they kept growing, earnings and revenue i think these stocks are expensive now. Were scaling back we own most of them and were scaling back our positions we think theres better places to be now. Whats your counter to that josh amy and i with on the same side we agree i was referring to the technicals were talking about something topping, were talking about price. Were talking fundamentals its a different conversation. Do you agree with her that these names that we talked about . Yes yes. Theyre too expensive and too big . Yes theyre over owned the market cap increases are ostentatious 41 of the money in funds is index driven and this is the biggest index on earth 3. 8 trillion alone just following the s p 500. Then think about the stocks in all these other indexes. Apple is a value stock and growth stock i dont know how its just a eality its in both its a dividend company. Its in everything these stocks have gotten too big. They are too expensive but it doesnt matter because the technicals and the way the market is will take the stocks higher regardless. Im trying to figure out where do you think they will go. I guess what im saying before something is topping, which you cant do in realtime, lets see what happens the next time they have a big decline that they cant recover from were having this debate on a the day the nasdaq is up it seems funny to have this one more thing. Wait with all due respect to amy and i think shes right, you could have said the same thing five years ago about every single up with of these stocks except for microsoft and apple. We could have thrown every sass company, every ecommerce giant. We could have said they are too expensive. They have only gotten more expensive. That starting valuation that people paid for these names in 15, in 16, in 17, thaifr heya doubles and triples. People are paying higher mull approximates that tells you smog abonothing h next 6 to 12 months. Amy, are you supposed to sell some of these names now because they have gotten ahead of themselves or not because the technicals are still aligned behind these stocks . Were more fundamental investors. Theres two ways to value a stock price. These stocks are trading on the second way of trying to determine a stock price. These are the Scarce Companies that continue the power through. People want to own in their portfolios at this point for safety i agree with josh. The technicals looked fine Global Advertising expend last year was 560 billion globally, not just own line. Facebook had about 13 its hard the make the case for stocks were fortunate we have two people on our Investment Committee. I still remember the day we discussed that what about it . Is it now the time, these things have gotten too big and too expensive. Theres too much money on that side of the boat should you take some profits in those names. I thaought you were going to forget about that over your vacation thank you for reminding me the technicals are the fundamentals right now as it relates to a lot of these Megacap Technology names i have to have that exposure to technology the reasoning behind that is first and foremost they are the economy. Will there be a relaxation of the over concentration towards technology, i would hope so. You have to remain committed to it when you look at it from a Risk Management standpoint, one of the reasons i got out of amazon is i was concerned on the pull back, which one of these Technology Names are going to hurt you the most. I have microsoft, apple, amazon. I chose amazon on the police chief and pull back that would be the one that hurts me the most ive stayed with microsoft and apple, ive been proven to be incorrect by that decision looking forward, these Technology Names are the economy. They are predominant in terms of the sector weighting of the s p. Thats why investors have to take an opportunity to allocate. Amazon is coming off five down days in a row no one expected when you said you were taking some profits in amazon, you dont have to time the tick perfectly its hard to call the top. Its hard to daul the bottom its the Bigger Picture trend. These arent even tech stocks think about amazon is basically a Consumer Discretionary its transport then you think about facebook and alphabet have been removed they are now communication stocks its Growth Equity theres a premium for Growth Equity theres a scarcity value being placed on companies that are able to grow by 20 a year during the worst Global Pandemic in a century there arent a Million Companies that have the ability to do that now. Theyre not all tech thats why theyve added to the market cap of those stocks the way that i told you that they did for all the reasons that you just said. Chipotle is in that group. Its not a tech stock. Its growth are they too expensive . Every one has great comments. I think first of all of a classification standpoint, whats interesting about the difference between s p reclassified a lot of these names a few years ago. You have facebook and google are now in the i. T. Sector if you look at the qqq which you have big positions in apple, microsoft, amazon, tesla thats where you continue to see the other companies out perform. If you look at apple, i have a big position in the qqq. Owning apple was doubling up of that. I thought i would rather own some of the other companies that have more optionalty in the future like a square or even a microsoft where i can see more visibility of Revenue Growth i think we all have Different Reasons for trimming these i think those other sectors have their own discreet head winds and brings you back to owning the Growth Companies regardless of how s p classifies them amy, in terms of entry points and having entry points matter, the street still thinks you have room to get into the names amazon target race to a new street high. 3800 from 3000 thats at goldman. Goes conviction by also get a price target of 3800 at jeffreys. Alphabet gets a street high to 1850 facebook get a street high to 305 as well. They have a scarcity value now. I brought up the walmart example because in 2000, nobody could foresee that walmart would not dominate retail a decade later its a very similar story right now for amazon things change. I just given the market caps, given the percentage of the index that they represent compared to the economy, i think they are much better opportunities elsewhere. Given then, joe, what were discussing here, how much is riding on microsoft later in the week with its earnings i think microsoft will report actually a very Strong Quarter youre getting towards a point where azur will show more revenue than server and tools. Im not highly concerned about this coming quarter. I think there has been a clear pull forward in terms of i. T. Spending it wasnt just reactionary which is what the belief was related to the beginning of this covid19 crisis. I think its something that will be far more enduring i think in the c suite rather than focusing on the corporate travel, it will be about the corporate infrastructure and improving that is that good enough in. If its not good enough, lit be a similar scenario to what you witnessed in netflix every one is long. The quarter came in and we said look how disappointing this is was it because every one owned the stock. When every one owns the stock and the stock does not go highea good quarter, you go through a period of consolidation. You go through a pause thats natural in the history of markets. On the other side you have the opportunity to move higher once again. I think that would be the condition of microsoft if it does not respond i feel like everybody owns this one the stock is up 52 from the march lows the bar is high. The bar is incredibly high. I would be surprised in after earnings it continues to move higher lets bring in our next guest. Tom lee. He is back with us good to see you again. Great to see you. You think the value trade is the place to be . Yeah. You have to laook at it long term its come from information based gdp. The next 20 years, its probably going to be close to 90 tech share of market cap should be a lot higher in the future. Since june highs, the s p is back in june, tech is up 6 and the epicenter groups are down anywhere from 6 to 10 mainly because the virus path has been pretty negative in that fourweek period we think that if virus cases are plateauing and we get some good news, were beginning to see that rotation move back into the epicenter stocks i feel like you need tech to fall out of favor in order for your trade to work its tied to the same thing youre talking about regarding the virus. As long as the virus news remains problematic, money is going to continue to flow into the names that we spent 20 minutes discussing if theres positive news moving forward regarding the virus then obviously the epicenter stocks will see some rotation money thats right. I think theres two linkages one is theres still almost 5 trillion of cash on the side li lines of which 1. 7 trillion is retail money as that leaks into the equity mark, it is buying faangs and the bond proxy we dont need a rotation out of tech we need to see that money at the epicenter. I think that would come if theres problem on the virus or really good news on the vaccine. Its been pretty positive on the vaccine side thats one of the problems with suggesting to buy those stocks its been up, down, up down, up down where tech has been just like this, right correct thats right the best analogy for where the epicenter is today which is florida, arizona, which is fcat. It looked like new york city was going to stay persistently high levels for many weeks. All of a sudden we saw, within two weeks, a 75 drop in cases within 32 day, a 90 drop. Thats probably where we are now. Sgr you. Youre sticking with 3450 yes josh brown, you have a question for tom its great to see you at the end of this month, which is about ten days from now, the federal Unemployment Insurance checks are going to stock. This is the u. S. Government spending 15 billion a week to send 600 to each family that is also on the state unemployment rolls. We think theres about 25 million u. S. Households that are in this boat if in ten days, congress and the white house and the treasury do not figure out a way to either extend that payment or do something similar, i think were going to have a massive retrenchment not only in Consumer Sentiment but in Small Business confidence, beth oth of which we saw last week starting to happen, but i think youll see a hit to things like retail sales and the stuff we got so excited has bounced back do you think we avoid that and if we dont, wouldnt there be Something Better to your epidemic stocks as this becomes apparent yeah. Epicenter stocks. Were coming up a pretty important window that the benefits are expiring. Our policy strategist thinksren. The economy is in rough shape. Its the biggest depression in five lifetimes its important for congress to act. Listening to you make a comment like you just dade, the worst depression in a lifetime its hard to go to my wallet and by economy stocks and epicenter stocks and the ones that have come back but are still so susceptible to negative news on the virus and the economy. This isnt Business Cycle related. Its due to a binary event i think investors have liquid dated so much of their holdings in equity. Were talking more cash on the sidelines today than there was in 2009 and if you look at the flows, people are taking money out of stocks at a fierce pace putting into bonds we know a lot of surveys are still short this market. You have what i think a positioning tail wind along with the fed and the economy thats in rough shape now but it doesnt have to be in 12 months. What happens if the Business Cycle on the other side of this just looks completely different than it did on the way in. Thats a real possibility. Were talking about not hiring back a large number of people who lost their jobs. Businesses become leaner the spending becomes tighter earnings will be different. We looked at the ten earning cycl cycles ten out of ten times the earnings have been symmetric companies are great at cutting costs. Thats what matters to equity markets. Gdp is in rough shape the policy will make a difference the election will make a difference theres a lot of things that are uncertain about the economy. How tied to a vaccine, specifically, is your thesis 3450 its a central view meaning, i think we have to have positive trial data. I dont think we need a commercial vaccine the market is looking at 133 vaccine candidates as 133 shots. Theres still that positive skew if we exhaust all 133 by december and none of them are skdsing th i succeeding, theres no way we do 34. 50. Can you do it without the banks . Youre recommending goldman and Morgan Stanley can you get to your target without representation from the banks . Yeah, i think health is the corner stone for the market. As long as they dont fail, the epicenter correlation between the four sectors is one meaning industrials, financials, energy move i think a binary event causes a rotation into those and as long as tech and health care stay bond proxies, were talking significant new highs. Joe, what do you think about what tom lee says . First of all, we didnt talk much about it. You and josh use the word growth before in identifying the attraction that investors have now but the russell 1000 grow g is one of the top strategies look at the performance of the biotech names in the last several weeks. Pki, the xbi these are all names ive been allocating towards i think bio tech is incredibly important to this. One word i would add to what tom is offering here as it relates to cyclicals is global if you look at s p 500 companies right now, the companies that have the highest revenue derivation outside the u. S. , they are the ones that are performing the best. I wonder if tom needs to give more consideration to that that the economic recovery is actually happening outside the u. S. , not so much in the u. S joe, id agree. I think when we look at sort of pmi recoveries, they have been very rebust in china europe has some escape philosophy taking place. I think the vix is telling us that sort of economic risk must be diminishing id agree when it comes to looking at cyclicals or industries, the best ones arent in a tech. Epicenter is a global trade. The u. S. Companies arent the best Energy Stocks if not the best industrials joe, why did you bring up the health care in bio tech. Josh has done a great job talking about that and tom mentioned before as long as tech and health care which are defined as bond proxies and tom mentioned that, as long as the dont fall apart, thats going to be incredibly important for the s p getting to its path of 3450 he said you dont need tech to get to his target of 3450 what he is suggesting is technology and health care joe, let me interrupt you im going to go down to washington, d. C. The house of representatives is holding a moment of silence for the late civil rights icon, congressman john lewis present in the chamber as well as members and staff throughout the capital and all who loved lewis, where ever you are, rise in moment of silence and rememberance of the honorable john lewis. For what purpose from the gentleman from georgia [ applause ] a moment of silence there for the late congressman john lewis, passing away on friday at the age of 80. The last of the big six civil rights icons well be right back. 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. Welcome back julia has the news alert for us. Scott, big news for the movie business Warner Brothers from Christopher Noland its being pulled from the release schedule Warner Brothers saying it will share a new release date in 2020 its delaying its scheduled september release of conjuring 3. Warner said they are treating this release differently of tenet which may mean launching internationally. It could mean less overall marketing but more spending on Digital Offering and levering the film in theaters longer. It speaks to pressure on the movie industry now thank you lets get the headlines now with frank. Chicago is tightening pandemic restrictions following a new up tick. Request to speed up because president trumps tax and makes it less likely the public will get to see the president s taxes before the november election go to cnbc. Com for more on this story. The bahamas is banning most travelers from the u. S. As covid cases continue the rise. The ban will stop all commercial flights from the u. S. But flights will be allowed to continue from canada, u ck and European Union scott, back over the you starbucks today initiated overweight at wells far fwogo its our call of the day josh, you own it lets hear from you on starbucks. This is my entry into the reopening argument if im going to play it in some way, what i try to do during the height of the pandemic when i bought the stock was try to envision things that would never change i think caffeine addiction is not going anywhere, pandemic or not. Whats going to be the challenge for starbucks is so many of its locations are in areas that are premised upon high foot traffic like if youre starbucks, all your stores are corporate. You would only be looking to place things where millions of people walk back and forth each day. Thats obviously not going be a reality this year. I dont know if we get some of these midtown industrials of major cities back. I dont thi theyll have to make changes like drive throughs. The point is they will they have the Financial Capability to remake the chain for a new world that we live in and people will still want their coffee i think it will work really well dont be shocked if the stock is back above 100 in a year or two. You want to give me a quick thought on starbucks before we move on . I entered it. I also sold calls against it because i want to be patient i think there will be some volatility i think its a wonderful play internationally to look at what they are doing in china. They are investing long term into that Chinese Consumer i think starbucks is a wonderful play its a u. S. Investor to own the growth of the chinese. The Chinese Consumer and they spent so much time theyve been thoughtful about their strategy i think its a good way to play international here domestically in the u. S crude oil flat today but Raymond James is upgrading a ton of Energy Stocks lots of names that are trading up between 1 and 5 now. All getting an upgrade to a strong buy being upgraded to out perform for market perform apache, laredo and matador resources. Prices are inexpensive and the worst appears to be behind us. Down almost 42 . Despite the upgrades, the note probably saying likely wont be all smooth sailing from here pointing out while we are upgrading names, this will be anything but an ugly quarter for the expiration and production space. We appreciate that. Amy, youre adding to our energy positions. Right we have been adding to energy since futures went negative for the oil price. We think the stocks are capacity is coming out of the sector when kpas di comes out, returns improve and we think there is a chance that the inflation outlook on the other side of this is very different than the 09 period it doesnt take a lot to be over weight and we think it could have a big impact. Joe, what do you think about some of these calls. Some things you have owned in the past those are the two exact names that i would offer the viewers they should take a look at i think a lot of these names, they are on the back of the chevron. It does not impact the Balance Sheet or the dividend. What they have is they have the shell assets if you have strong shale assets, in addition to that you have International Assets like noble did in the Eastern Mediterranean with the natural gas assets, youll be high lly desirable i think hess is another name that could be a potential takeover target. You like the chevron deal i think the chevron deal is fantastic especially in the wake of the deal that potentially they would have walked themselves into which would have been a horrible deal last year mike worth did a great job explaining this morning. Im long on the stock. I believe in management. Its the top energy name to own. All right lets get to bob with our etf edge for today good to see you the market is not reacting too much its positive vaccine news but health care is doing well. The Health Care Etfs hitting history basic highs. I dont mean the broad health care one the biotech etf. Ibb hitting historic highs todd, not only is the market cap weighted ibb hitting new highs as well but the equal weight, the xbi at new highs this tells me everything is moving up in the last couple of weeks. It is youll see a treatment for the coronavirus. You can spread that. Ibb is more concentrated in the heavy weights. The diversification of those four of five different names we like health care. We think theres more room to run. On the biotech sector, if you look at the comparisons, despite the fact they have different market cap weightings, you will see in the top contributions there, moderna, all familiar names that are in both funds those are contributing common names. Todd, the tech trade is back. Taking a week long breather. Now its back. Megacap is up today. Were at new highs for the broad tech etf, semiconductors and the thematic names, Cyber Security etfs hacked historic highs as well todd these growth oriented stocks. This is the way to work from home and stay at home through Cyber Security through robotics. Etfs from global x or cibr those are doing well they are keeping up well with xlk, the Technology Sector spider which is dominated by apple and microsoft. The Bigger Companies are doing the best in the space. All right thanks very much joining us today, 1 00 p. M. Time, etf edge well be talking about a number of important topics. How do play that and one of the years biggest ipos maybe in history and how you could play that using etfs. Dont miss it. Scott, back to you thank you very much coming up, the Investment Committee ready to answer your questions next you can reach us at cnbc. Com halftime. Were back in 30 seconds we are back. As promised its time to answer some of your questions joe, to you first. I want to start a position in abbott labs, what are your thoughts ive had a position in abbott labs but i would tell you starting a position with stock at 100, im not sure i would do that i think the stock from here will be difficult the achieve further upside potential last week they did report the quarter. I think the stock is coming to a price point where its fully valued i would not enter here josh, to you. Whats up with verizon its doing poorly. Stock hasnt done anything in the past few months. I think its traded in line with its peer group. I think with verizon, the way to think about it its more akin to a fixed Income Investment than an Economic Investment nobody should buy this stock expecting fireworks over Something Like 5g or whatever. Its going to be more volatile than a bond but a big part of the total return you should expect here is the 4. 5 dividend yield which is extremely safe and any time you see volatility in the stock, i would be taking advantage of it, building a position and doing automatic dividend reinvesting if you do that, verizon from a total return perspective will give you a much better return than what you would get in a tenyear treasury bond selling under 1 yearol yield phil wants to know about ralph lauren is it a buy especially considering the dividend great question. I own it i wouldnt buy it for the dividend i think the dividend is around 360. It could be down that much in one day. If you buy it, i would leg into it it has a lot of exposure to big box retailers. Its gotten a will the of global exposure i think the real upside is not going to happen until we get a vaccine or a therapeutic of sorts. Amy, mitch in nashville whats your opinion on Nextera Energy we like it. We wouldnt be surprised if it was aed a bit which relative to the other utilities but from a long term perspective, we like it josh, one question for you. Ill sneak one more in as a new investor, should i buy value etfs or fractional shares . Interesting question etfs or fractional shares for a new investor i think etfs. Im not sure that value etf. I misspoke. Thats my fault. Not value etfs you know what, what i think you should do both learning the markets via individual stocks is much better and more fun you will understand why stocks go up and down, how people value different events if youre trying to build a longterm portfolio, the index etf will just give you much broader exposure than you can get, even if you tried to buy 40 different stocks with fractional amounts. Try to build with the index etf approach, if you have extra money left over, do some trading. Learn some stuff about winning and losing learn about your own personality. I think a bit of both is the right answer i was off twitter for a while, im learning how to read it again the dow falling to the lowest level since june. How the futures traders are playing it well find out next. And american greed biggest cons premieres tonight at 10 00 p. M. Halftime will be right back. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Stocks by the slice from fidelity. Save without even leaving your house. Just keep your phone and switch to xfinity mobile. You can get it by ordering a free sim card online. Once you activate, you only have to pay for the data you need, starting at just 15 a month. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. 5g is now included with all new data options. Switch and save hundreds. Xfinity mobile. All right. Welcome back the dollar falling to the lowest level since early june, after posting its fourth straight weekly loss. Jim is betting on a bigger dollar breakdown welcome and give us your trade the trade is im looking to sell the euro dollar Index Futures at 95. 80 with a target of 95. 05 on the down side and placed above 96. 30 the fundamental argument for a weak dollar is obvious if you would have told me six months ago that the federal government would spend or commit to spending somewhere 5 trillion or 6 trillion and the Federal Reserve would have zero rates out forever, and the dollar would have only come off a little bit and hung in as well as it has, i thought you would be crazy again, the dollar is measured against a bunch of other Central Banks that are doing roughly the same thing heres what changed for me today. The euro has seemed to have broken out of a technical pattern. I like this trade, but if we can settle the euro above 114. 70, at the end of the day today ill go from liking this trade to loving this trade everything is in place for a fundamental dollar weakness. Appreciate it final trades are straight ahead on the half. This selenite grey is so pretty isnt it . Wow. Jim could you pop the hood for us . There she is. Turbocharged, right . Yes it is. Jim, could you uh kick the tires . Oh yes. Can you change the color inside the car . Oh sure. How about blue . Thats more cyan but. Jump in the back seat, jim. Act like my kids. How much longer . Exactly how they sound. Its got massaging seats too, right . Oh yeahhhhh. Oh yeahhhhh. Visit the mercedesbenz summer event or shop online at participating dealers. Get 0 apr financing up to 36 months on select new and certified preowned models. This is about the next 10 years. But this is something you can do today. You can make a difference today by filling out the 2020 census. The census impacts hospitals, schools, and public transportation. The 2020 census counts everyone, whether you rent, own, or live at home, including roommates. Taking the census is quick and easy. Its only 10 questions. Shape your future. Start here at 2020census. Gov. You guys have a good day. Welcome back amy, i want to get to a couple moves of yours that are recent before we go today one of them is having a big day today. Fiverr ive been on the show for a while and ive seen this move up we really like this company longer term. It may sound counterintuitive since i was a little bit bearish on the valuations or a lot bearish on some of the mega caps and valuation still is high. We think the company has a lot of growth in front of it new Business Applications are going through the roof, as everybody knows. We think that portends well for this company and we like the margin profile we think it has a lot of growth in front of it its been an incredible year, right . Up better than 260 getting a little lift there. Moodys as well is one of your new ones moodys we like in terms of financials we think its one of the safer places to be in the financial landscape right now. As countries such as china grow their bond market, theyre still an oligopoly, so we think moodys could grow from that do you want to give us a final trade while were at it. We like regeneron stocks up to date, but its still trading relatively inexpensively in the low 20s, and if the whole world doesnt get vaccinated in the next 12 months, we think regeneron will have a good return stocks are in some of the most prestigious universities in the country. Dropbox is a great name. Josh . Im going to change mine. Im going to reiterate verizon i think this is a smart place to regenerate capital joe dropbox good to see everybody kelly, its all yours. Thank you, scott. Hi, everybody. Heres whats ahead of us. The clock is ticking in washington to get another stimulus package done. Well have the very latest and what happens to the economy if that 600 unemployment benefit gets reduced or goes away. Mark cuban says the Global Pandemic reminds him of a dotcom bubble and warns people not to get too greedy