Bought bank of america for 12 Straight Days. You own it, what do you think . The stock is still down we like it, we like it for its diversified businesses ive been wrong for the last, you know, year owning this stock, but as we get forward to i think closer to a normal market, whenever thats going to be, bank of of me and j. P. Morgue aren in a good place. They have a lot of businesses and are trading when you look at the market at a very cheap value. Yeah, the catalysts are not there yes. He as got a good position in it. Jo he, 12 Straight Days, right . Stocks up 8 in that time frame, maybe giving it a bit of a jump start, 337 million they know own almost 12 of the outstand, should investors following the oracle into bac and maybe the banks more broadly . Well, i mean, colt he could buy it for another 12 days he cant fix the headwinds you know im in pmorgan. Thats the one bank in the best in breed the reasoning behind why i am not in that is just the significant consumer exposure that it has and the absence of trading revenue that you will find in some of the other financials like a Morgan Stanley or goldman sachs, even jpmorgan which reported a strong quarter. No, i wouldnt suggest if youre going to be picking one of the Money Center Banks, or if youre buying bank of america right here, you might as well go buy wells fargo. Youll probably have more upside return if there is an environment where the banks all boats seem to rise so i think you have to stay best in breed, which takes me to jpmorgan if were goods to the thesis a all banks are going to rise, you go wells fargo. Steve weiss, what do you say . I dont think steve can hear me. Brevina, you know, if you look at the financials, joe painted a picture of why they havent worked its no mystery, but is i think it depends on the time Warren Buffett is known for being very patient if thats how youre feeling, it might not be a bad time to start nibbling i dont think were goinging to traction in this group until we start to see more of an economic Recovery Scenario playing out that involves Interest Rates moving higher. We have a bit of a reality check with ked saw how many of they banks started building their reserve. So they definitely are exposed in many ways we own jpmorgan. Thats also our only holden. We havent completely abandoned the group. We just think we are not yet prepared to start adding more exposure here given what before we see a recovery. Joe, youre going to get a vaccine, youre optimistic about that i think youll get multiple vaccines, yes. So Economic Data today decent, you think were going to get a decent snap back into the economy as you get into 2021 i heard the conversation yesterday request josh and jon i know jon used the word rage. Josh seemed to feel as though it will be the moment well see this euphoria in the capital markets. I still believe, scott, the areas of stress and strain as it relates to airlines, travel, entertainment, brickandmortar retail, youre better served as ma marc lasry has discussed, youre better in the credit market, so youre telling me theres a euphoric lifting in the equities market that im not okay holding apple, nike, docusign. Im not willing to step out and buy the components of the covid19 stressandstrain industries that have been so challenged. Weiss, i think we have you back what do you make of this buffett move 12 Straight Days theyve been adding shares of bank of american america. Well, you know, its interesting. I would probably buy it all in one day, but away from that if i were to buy a bank, it will be bank of america. I do they they are best in breed. I dont think moynihan gets enough credit for the job hes done hes not as visible. He doesnt do all the conferences that jamie dimon does, but look at the execution. Its been nearly flawless, despite being tagged, if you do back to the issues that the government put it into in the housing crisis i would buy that however, i agree with joe. The headwinds are much too great. The fed is saying were going to adjust or inflation targets, so you could see low rates for a long time. Thats a headwind i dont think you overcome i think youre at a it right now, so im not there. Cant get anybody excited about this at all. Sarat, i chose you that buffett endorsed your ownership. Hes been buying it for 12 Straight Days, you know, i guess so no one seems to be excited about it no, look scott, i like it when they dont like the financials, okay let them not like the financials i think theres value here when the value comes back, i think youll see money rotate. I i dont like wells fargo. The Management Teams are the ones you want to buy these are the Big Money Center banks you want to do theyre diversified businesses, theyre about m a, asset management, about trading, a lot of other things and youre getting paid to own these stocks they might be debt money for a while, but youre getting a different along the way. When money does move into these stocks, you want to be there, and then you i think youve seen most of the down side joe, im not naive to the issue facing the banks were talking about a tenyear with some 50 someodd basis points some data is good, some data is horrible lets see what happens on friday you said bac is a consumerfacing name i get it, but buffetts play seems to be i had would rather by too early than too late for somebody to take advantage of opportunities, not saying there is now, but maybe its the same sort of thing. Hes willing to take a bigger bet in the longer picture that may have some significant up side and already the largest shareholder in apple has the biggest slice of that. If hes looking for his own barbell approach, why not this move so if i was sitting with Warren Buffett and he was to identify the reasons behind his purchase, i could say to warren, you could find the same reasons to buy wells fargo i truly believe that if bank of america is going to begin to see some significant appreciation, youre going to get even more out of wells fargo its a mirror image of bank of america wells has had fleas, though how are they the same . Has wells has had fleas, correct bank of america, there is already a premium thats built in because of the Brian Moynihan and the Management Team, clearly. I think Charlie Scharff in his Management Team is an excellent Management Team. I dont think that investors have properly priced in a premium for that Management Team so if i compare the two, bank of america and wells fargo, clearly you are correct. Wells fargo has had way more fleas and every other type of insect that can bother you, but looking forward it if we are going to get the appreciation from Money Center Banks which are not as i best in breed, jpmorgan like, i will get more up side than wells far aro and would tell Warren Buffett he would be youre trying on outoracle the oracle good look with that. Steve, go ahead. Then brenda. I want to throw in one thing there. Yesterday the fed came out with their loan officer survey. It showed that credit qualit standards are tightening at the bank, and loan demand is down. So forgetting about Interest Rates for now, youve giving money away for free, yesterday the banks are worried about the credit they have raised their reserves, and people arent borrowing enough because consumer appetites, and demand is down. Hold your thought, weiss. Forgive me for interrupting. Rackspace has opened best i can tell its down there it is. Its down 20 , is what well call it for rxt as it begins trading. That ipo is open steve, forgive me. Go ahead. So the fundamentals wait for the yield curve are negative as well as the pandemic, as businesses shut, banks will have a tough time making money and not adding their reserves you want to be at the other end of it. Thats going to be the big boost to their earnings, but i dont want to be there just now. There are other places to make money. I think buffett bought it as a bank proxy well, hes bought a lot of it i can seed a different time, i mean, people like to throw stones these days. There are plenty of people who have been doing that, just because, you know, the airline bet went bad, all of a sudden its like the guy lost his touch. Clearly he sees something in the banks. Joe . Were talking about financials to add to that steve has been saying, why now . Why trade down in quality now when on the other side of the election we could be facing a Regulatory Environment that would be much tighter, much more stringent for Financial Institutions i would rather face that reality and position accordingly after the election you mentioned his position in apple. Its a big one lets talk about that. It gets a rare Downgrade Bank of america downgrades, saying the risk reward is more balanced the whole world owns it, club everybody on the desk today. Steve, in fact you bought more. I did this is just an idiotic trade for the very reason im going to tell you economically whether you own one share of a 500 stock or ten shares of 50 stock, it means the samele thing however, as i talked to people who arent in the business, and i say do you own apple amazon they cease i cant, its too expensive. You go through the math. They still dont get it. When apple splits, its my belief, when they split at the end of the month i think youll see a whole new wave of buying for people who havent been in the stock. Why . Because it will be 100 ticket, which is still high versus a 450 ticket. Its a trading position. I got into it early. Theres no reason to sell the stock whatsoever in my view. The downgrade from b of a, yeah theyre all solid points, but theyre points you can make, but right now its a free pass until they launch the 5g phone, which i still say will be the biggest Product Launch in their history. Apple is a trading position for you . No, no, no. I have my core position, which ive had for a long time i boo the some more as a trading position. I got you i thought you were calling the whole thing now a trading position i just wanted to make sure you wont get me there, scott. Youve already been run over by this thing, i dont need to make you more road kill. Ive been run over by a passenger. How do you get run over when youre you keep trying to jump out when the thing is moving one of these times youre going to fall on the floor yeah, well, well, theres the good me and the bad me got me is staying for the ride again, by the way the nasdaq got within a whisker of 11,000 earlier. That just underscores this march that tech has made what do you with tech more broadly here . Weve actually been reducing some exposure here weve had good timing in terms of adding spoke yurt, b ining ee recognizing that 40 of xlk is apple and microsoft, so re concentrated in those two positions. We sold that position last week, recognizing weve had a nice move here. Were growing increasingly concerned about the expectations going forward. So its actually encouraging to see in downgrades of apple that will temper expectations somewhat, but following these amazing quarters we have seen, we saw an environment where expectations will be ratcheted up going forward, and were concerned that some of good fundamentals are stealing from subsequent years, especially in the case of apple, we cant forget this is a consumer company. Theres been a lot of buying out of the necessity, i think, for many families, especially buying an ipad for every kid in the family so they can do remote learning, maybe buying a mac, but the question is how much is left in the budget for a new phone, even if its 5g and something new. Were doubtful whether or not it will be quite as big as everybody is expecting we still continue to like apple. We still have a position in apple but just growing concern the expectations have gotten a little ahead of themselves here. I hear you. Joe, in terms of the bank of america note where they talk about risk and reward, obviously theres positives, everybody gets it, Everybody Knows that story. Are we ignoring the risks that may be out there brenda mentions its still a consumer name. Are we ignoring too many when they talk about the fangs collectively, the market cap is 7 trillion, thats nearly 26 of the s p weve been talking over the last 24 hours has apple that is had record weighting in the s p for the last 40 years. The on. As a portfolio manager, trader, investor, any steward of capital, how can you not be in apple with a 6. 5 share of the overall s p, as we continue to march higher and higher for the s p . I still think the story is about a world that is absent of growth thats why bonds are acting as this significant hedge youre seeing treasuries priced where they are in that environment, in the very isolated places that you can find growth, you have to pay a premium for that thats exactly what apple is giving you in addition to the snoiskt market share so foolish on me that i liquidated amazon when i did really foolish if i would liquidity amazon and apple i just cant do i cant deal with the selfloathing again. One day was enough. No, no, no. Whoa, whoa theres no selfloathing on that this is the practical mannerism of managing a portfolio and understanding, well, i had amazon, apple and microsoft. I got out of one of the three. Im out of moves as long as the world is challenged by the absence of growth, as long as a tenyear treasury is pricing at 55 basis points, i need Growth Equities which are bond proxies in this environment. So i have to stay with those microsoft and apple positions. If i dont, scott and the s p keeps moving higher, you know what i am . Im actually short. Sarat, you have a small position in apple. You have a balanced portfolio. What do you do with big tech its a portfolio approach again, you know, taking what brenda said, taking some of the profits for some of these that have run i disagree with joe. If youre looking out a couple years and want to be in places where theres going to be value, you take off some of the money its okay to trim the amazons and microsofts we have trimmed paypal and nvidia along the way, to you sein the moment its euphor and its great, but its not going to be stagnant were going to be moving forward. Thats where were looking for the opportunities. Its going to be wrong for a while, but im okay with that, becauseivity some of the winders on the balanced approach tony dwyer is here with us welcome. I hope youre well welcome back. Hey, judge, doing well. Thanks. Glad to hear it where do we go from here were about to push 11,000 on the nasdaq every day thats where the money is, thats where the money has been good. The question is will there be a rotation away from some of that . Is it time to rebalance and rotate or not . I think there is, judge im much more focused on the rotation than the absolute target level for the s p 500 i think were in an extraordinary situation, where if you with look out into 2021, they was flivver supposed to been a capital recovery. I kind of butchered it on fast money, but it was supposed to be the reverse of a square root symbol, you get a rapid declines and you grind it out until you figure out a vaccine or a another antibody solution. I thought today was important. Make on may 24th, powell came on to 60 minutes and talked about how we were just printing money and when asked, he said dont worry about that for the foreseeable future today clarita came on with an interview with steve that i thought was extraordinary, almost as big a deal he talked about the structural changes since the last time they did this benchmark tool review, from 2012. It is a massive important thing for macro. He said that theres powerful Deflationary Forces at work, and theres powerful the term was powerful forces holding down global rates theyre coming up with ambitious review and looking at important evolution of the fed strategy and pursuing their goals but they keep telling us the game plan that theyre going to make it work so my bet is theyre going to follow through with it they are coming up with tools that are going to get to full employment or 2 core inflay average come hell or high water and theyll come out with it soon youre not suggesting the powell i think theyre going to get more agreggive its not necessarily just presenting money and sending it out. I dont know what it is. Thats the beauty of this thing. How many times, scott, have we had people who say theyre out of bullets every time something happens theres a bigger bullet that nobody saw coming. They keep telling us theyre coming up with an ambitious strategy we history liquidity, a fed thats doing many infin aye qe globally with fiscal plays globally, and based on the oec indic indices, we have a Global Economy thats just beginning to pivot from historic weakness i dont know what happens in the next month or two. I could tell you in 2021, if all of this doesnt equal growth, we have a much bigger problem in credit than what why would i rotate now away from big tech . Its worked. All of these steps forward in value have been two steps forward, three steps back or two steps forward and then they sit down. Our game plan foot megacap stocks, scott, is you dont bet against them, but what sarat said, as they keep going to the point where theyre becoming an inappropriate part of your portfolio, you can scale it back you dont have to underweight or bet against them personally, if youve been in those seven stock that is one of my mentors early in my career talked about, thats really the only strategy you had to be in Everything Else is kind of punk. Ultimately thats a pinlt where that will transition if you see remember that 60 minutes interview you have a twoweek run of the banks as soon as you get this perception that the or acknowledgement you know me, im a data guy i dont want to bet against that but that could be a ways away whats aways . Six months maybe. It could be, back in 2001, the commodities were and then you had the recession associated with it, nobody warranted to buy commodities then, and then you went into a tenyear run when the dollar is weaker, its an economic especially coming off a seriously defensive move, its an economic statement. Ive got to leave it there. Are you in a boat . I know. I tell you what, its got the bright sun, my best side no, im up in the adirondacks, not lake george where youve been orders have suggested, are you in a sauna its a cabin. Come on, man, a little nature. Good talking with you, tony be well. Take care our traders are making moves in this market well have their new trades, plus disney missing estimates, but the stock is rallying on the streaming numbers. We will debate that. You can always listen to us live or on the go on the cnbc app were back after this. 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. Lookentertainmentour 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 lets get as to sue herera with the headlines. Heres what is hatching at this hour. Joe biden will not travel to milwaukee to accept his partys nom base speakers scheduled for the convention will also participate remotely democratic organizers say the moves are being made to prevent spreading the coronavirus. Shall set one of the four squad members and one of the first muslim women in congress. In tucson, arizona, an outbreak has infected nearly half of the inmates. The department of corrections says theyve been isolated from other inmates and receiving appropriate medical care you are up to date scott, back to you. Thank you, sue. Lets go through some of the moves tell me about masco. I am strong on the Home Building area i want to come back on my exposure trying to get invested, these guys have quarries, we think longer term theyre also part part of the housing. Joe, you bought its square and xle. Yeah, i mentioned i would buy some square. The usages of cash app grew 6 million in the quarter so a bit of a small position in square candidly, that seems to be the company most successful for jaxx dorsey and where he should be focusing his effort. Xle, thats my way to get more exposure to energy as ive mentioned in the past couple weeks i have a couple gas plays, but i thought gaining exposure to examine. Le was the right move. You. Are pointed out that nat gas is certainly in the past couple months or past year to see both of them, not just one of in the meantime so theres both the technical reasons and a bit of fundamental reasoning behind it as it relates to natural gas, the Appalachian Producers have been incredibly disciplined youve heard that a Conference Calls last week and i think the balance will certainly move in favor of demand you do think theres a bit of a recovery in terms of the industrial capacity all right weiss, you have some American Airlines puts. You sold them . I did i took my daughter to the airport to go back to london, where she lives and works, and the place was empty. There were only 22 people on her flight i just dont feel right making money on the airlines or the restaurants where their fate is not in their hands i think equity holders can get wiped out in american. I think they could get wiped out in all the airlines. Bondholders would do okay. I just dont want to be a vulture and profit from somebody elses misery. Thats why i sold those puts. Got you had disney reporting its first quarterly loss since 2001. Tell me what to do, sarat was it was lower after a number, now up mohr than 9 . The stock is still down from its peak i bought it when it was much lower. Im holding it i will add to it if it does sell off. I think the stock now is priced for things to get better if they do, i think youll see that reflected in the numb bers. The streaming numbers are really strong thats one of the big pieces i was betting on theyre well aware of the issues in terms of amusement parks. Sports are coming back in some way with the nba, the espn, so i like it. Its a hold for me now it was much cheaper when i wanted it with the global brand. I would keep it if you owned it. Have we seen the trough in disney is now the time to enon the stock . If youre looking for a play from trimmings you have taken on the tech side, this is the kind of name we think is likely to continue benefiting here obviously the company is being severely battinged by covid, but we feel the Management Team is doing the right thing, really making more moves on the directtoconsumer side, by offering a lot of content that people want to see and theyre willing to pay for it, like hamilton. Theyre likely to come out on the other side in a stronger position because of the move edwards more of the streamin business and direct to boumtjer. Lets get to rahel solomon who has three bullish calls. They think the worse is behind them. So analysts think with tens of thousands of restaurants expected to close permanent lid, they could benefit with less expensive rents, that stock is down about 33 year to date. Palo Alto Networks getting upgrau upgra upgraded they also think that demand is relatively stable moving forward. They also like the 200 million in deals with the u. S. Government that the company made for the july quarter scott, analysts are pretty sold on the company, no sell ratings here. Finally Emerson Electric getting an upgrade the price tart hegets, headwindr already known, priced in and has a high dividend yields finally, scott, take a look at shares of monster. That level was 8396. Its off of the highs, trading closer to 82, but this is also after topping earnings expectations, and provided some guidance on covid. They said they dont expect any shortages in the supply decline and dont think the pandemic will impact the liquidity. Even trading off the highs straightly, despite the pullback, its still one of the best performing stocks joe, you own monster beverage you used to own palo alto, right . I used to own palo alto, which is clearly breaking out. I have to tell you, in both cases, monster and palo alto, i see both these companies as potential acquisition targets. Clearly in the case of monster bench, rodney sax has done an absolutely fantastic job managing the business through the pandemic this is a company with a market cap somewhere around 20 billion. But certainly the Business Model is a model thats been working over the last couple years investors want a premium for growth, and both of these companies clearly would be a strong acquisition target in their selected industries. Coming up next the health care merger. Its an 18 billion deal our josh brown was on teledoc for a while. He weighs in on that deal, next. Feels like theres no barriers between departments now. Do you think everyone appreciates it . I do. Huh. Forgot my glasses. Serivcenow. The smarter way to workflow. You should be mad they gave this guy a promotion. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. Theyve really stood the test of time. Much like these majestic rocky mountains. Which must be named after the. That would be rocky the flying squirrel, mr. Gecko sir. Obviously ahh come on bullwinkle, theyre named after. Our first president george rockington that doesnt even make any sense. Mr. Uhh. Winkle. Geico. Over 75 years of savings and service. I opened a sofi money account and it was the first time that i realized i could be earning interest back on my money. I just discovered sofi, and im an investor with a diversified portfolio. Who am i . i refinanced my Student Loans with sofi because of their low Interest Rates. Thanks sofi for helping us get our money right. Theyre merging in an 18. 5 gill onstock deal. Look at the runup la vonno more than 400 . Josh brown joins us now on the cnbc news line, because you may recall, hes talk about teledoc on occasions what do you make of this deal . This is one of the stocks i sold too early i sold it at 170 i thought was a genius i guess not, but i love the deal everything weve been talking about, everything weve been saying is exemplified by what will happen when these two Companies Get together theyll be doing a billion revenues on a proformal basis, probably over 100 million in cash flow, and ultimately this business is going to require scale. You know the Insurance Companies are coming in. You know the Hospital Systems are coming in, so i think its smart that both companies have an inflated currency anyway. Might as well do something productive with it if it gets closer to 200 or even under, i might get back in the founding members of cramers covid index, of course you think its the beginning of any trend where we see consolidation of the areas that have capitalized. Thats a really great question. There are going to be seven of them public most of them through stacks because of and then i think we have room for all of these stand did not alone, its likely that theyll find its easy tore compete with the salesforces and microsofts of the world if they get more horizontal you have names that are ripe for some version of m a or whatever i think thats absolutely something that could happen. I appreciate you calling in thats our josh brown. Our experts are ready to answer your questions next tweet us as well were back in just two minutes come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. [ engine rumbling ] [ beeping ] [ engine revs ] uh, you know theres a 30minute limit, right . Tell that to the rain. [ beeping ] for those who were born to ride, theres progressive. [ beeping ] puts its customers a wiin charge . Rier well, the good news gets shared. And it gets rated 1 for customer satisfaction. But dont just take our word for it. Take theirs. Its your wireless. Your rules. Only with xfinity mobile. Call, click or visit a store today. We mentioned rackspace a while ago. Theres another ipo today. Bigtime gain, up better than 200 , 240 , 81, about 70 cents, so keep your eyes on that. Well try to get a chart on that, too. Thats one heck of a gain. The traders are answering your questions joe, from libby in alabama what does does the panel think of xbi im growing a bit concerned about the holding in the xbi the notiva vax, but ill mainta my position. Steve, agree realty is up is it a buy . I think it is theyre collecting a lot of their rents. Its another way to play, frankly the other side of covid, and there will be a vaccine. I love it. Im there, phenomenal management whos not sold to share. Sarat, what would you do with General Motors now i would keep it at these levels its sdourchting no growth, negative growth. I would hold it coming out of this, i think the stock will do well. Even steve wiiss recently bought it. If his opinion has changed and then added to it. Trust me, bill. The. Thats the signal. Brenda, time to invest in hershey . Is it . This is an important quarter. Its a quarter when they sell into the retail channel for halloween. Management gave guidance assuming there would be no change to halloween. So we could see a development where that doesnt really come to pass. That could cause some volatility certainly in the stock we would be more cautious, even though. For round two, joe you start with ryan from dallas. Walmart, is it a buy i think it is, pushing above 130 recently, going to report earnings in a couple weeks again, i think its one of the covid19 acceleration trend winners. Im comfortable purchasing it here. Steve, earnest wants to know will snapchas or facebook be a better investment over the next five years to me its pretty clear it would be facebook. The management, while you can say that Mark Zuckerberg is arrogant, he continues to find ways to innovate and bring more on the ad boycott has been a bust from all reports clearly facebook i dont know if snapchat will be around in five years qualcomm, what do you do, sarat . I buy they settled with huawei, they have 5g, and management is very focused. Its one of our Largest Holdings ic like it. Brenda, time to buy blackrock . Its had a phenomenal year. Its grown assets and been able to maybe are maintain fees, but to the extend more fund flows their way both off active and passive side, i think it should continue to do well here. Bonus question, joe, comes from twitter t this is a question that troubles me for a while. What are the numbers on joes wall scott, you know the answer. 29 is the number of stocks you own, i think, right . No, 29 is remys hockey number 87 is tanners number and 42 is baseball number. Thank you for answering that, joe. Appreciate it. Gold prices hitting record highs. Wee find out how the futures traders are playing that gold trade, as it trades. Were back time for the futures outlook gold hitting another record high today, silver racking up big gains of more than 3 right now. Lets bring in mac stetland from equity investment. Anything going to stop this run . Its going to be tough. Even in the middle of july when there were talks of another stimulus package, gold went from 250 to 2,000 now we think it sits at a trillion plus, maybe some concessions to the democrats now we saw gold take off at 2,000 here im long gold futures already, but im looking to buy at the 2060 level weve seen it back off so this is a good time to bichuy a target up to 2100 and a stop down at 2030 if it gets stopped down at 2030, i think youll get the opportunity to readd right around this 2,000 level. When you go into a crisis and you dont have a plan to get out of it other than to print money and have the fed just basically print money and then also have a stimulus package, your currency is going to decline, and with a rush at Interest Rates near zero is into gold i want to own a little bit of that in my portfolio it doesnt need to be the whole portfolio, but i think its somewhere between 2 and 10 holdings well take a qckui break well come back and do final trades next. The covid19 pandemic is creating Food Insecurity on a scale not seen in decades. An estimated 54 million americans will struggle with hunger. With 200 food banks and 60,000 meal programs, feeding america is the largest hungerrelief organization in the country. Join Morgan Stanley in supporting feeding america and your local Community Food bank. Try new natures bounty stress comfort. Three unique gummies for your unique needs. Find peace. Boost mood. Sleep well. Stress comfort comes naturally, only from natures bounty 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. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Time now for final trades. Brenda, start us off what do you like and why do you like it . Waste management. Its poised to participate in economic recovery when volumes start to recover, and we started seeing that happening here okay. Steve weiss . Moderna they had a great call today. The stock is down because there is no government money yet for the vaccine. They already gave 90 million, but they gave great news on a vaccine for cmv birth defects which could be up to a 5 billion product for them so i had a core position and i bought more for a trading position as well you added to it again this is something youve been doing fairly often brenda, quickly, because weiss is talking about vaccine do you own j j we do own j j the vaccine news from j j, too. What do you think about it its still early. Theyre just starting their human trials we should see more significant trials in september, so were likely to hear some news, good or bad, between then and now there is still lots of good things happening at j j. Starting to see a recovery in overall rates of procedures and thats happening globally so i think thats going to be a positive for the company here. Sirat, whats your final trade . I like chevron. To joes point, i think energy is going to catch a bid here when you see all the indexes going up, and i think this is the stuff you want as a core position in the energy sector. Real quick, what do you have for me john deere breaking out here. Agri equipment is at the best its been in decades thanks, guys. Kelly evans at the exchange now. Thanks, scott. Hi, everybody. No growth, no progress, no problem. The markets are unfazed by growth stalls. There are some points looking a little better lately well have more. Plus the buffett, the banks and bonds. Top analysts give three reasons why banks arent as risky a bet as many current investors believe. Disney soars a