The move in Interest Rates, the impact, if any, it could have on that tech trade. Josh, ten year, 78 basis points, 30year highest since june is this going to be a big risk for that growth trade . Im not sure. It certainly could be. But heres the way that i think we want to think about this. If you go back to february of 2018, that is when the curve peaked, right . Then we had several scarce where we thould we would have a thought we would have a yield curve above those levels but were not there and every time we gotten to that level weve had a big fade what i do think is happening now that is notable, theres a big catchup under way, Small Cap Value is on fire Small Cap Value of 5. 5 over the last three days and large cap tech is not giving up much while thats happening it possible you could have both things working at once i still think that if you get the big cap tech names hanging up there toward highs and not serving as a source of cash and then you get this big catchup trade in the russell 2000 names on balance its bullish for both i dont think we want to talk about these things as either or right at this moment very good point you make. Steph, do you agree with that and do you think that maybe you would get some money coming out of those big tech names of microsofts, apples, facebook, you know the ones im talking about, if rates continue to move higher if rates continue to move higher, thats a function of the economy im sorry, im getting some feedback. So if rates guys, im getting feedback well move it along john, ill ask you the same question me, too john, well try and work on the audio, guys. We apologize for that. This idea of rates now moving higher again, obviously from very low levels but if that moves continues, is there pressure on tech well, were on a roll right now. Thats clear rob, how about we try you. Maybe the price is right this time what do you think . Can you hear me okay, scott yup, i can hear you all right, great. So it depends on how you look at it is the answer we all know if you discount growth earnings at a higher rate, that that should have implications as it relates to pricing of those stocks. So there is a possibility that that happens i would say that these stocks have become such darlings, it is unlikely that investors completely abandon them this time because that is where youre seeing the did your ability and consistency of that growth absolutely josh brown was right. You had this situation where inve investors were massively caught offside. We were coming into september, october, historically difficult months before an election, an election that likely was going to be at least contentious and maybe disputed you had this second wave, you had a stalemate on stimulus. So we were comfortable maybe holding a little more cash than we would typically hold. And whats happened is markets seem to be pricing in a very benign outcome on those scenarios, viewing that were going to have election certainty, were unlikely to have another shutdown, the Economic Activity acceleration is real and the feds going to be cautious about rising rates i would be in the very short run a little nervous about being too seduced by that narrative, but in the intermediate term i think we know were going to have an election certainty, we know were going to have a vaccine or therapeutic. Its how widely distributed it will become and at what pace, but there are some positives on the horizon. And the main positive is you know that the fed is going to stay engaged and this stimulus is going to be here, one way or another, either early or late. I think those are catalyzers for the market in the short run im Comfortable Holding a little extra cash. Thats not that far from the view, steph, that david costin of Goldman Sachs puts forth, he thinks the markets are reflecting more certainty, more certainty in the outcome of the election and starting to price in a blue wave and a big stimulus package coming from the biden camp, and thats why rates are going up, in anticipation of much higher spending from even these levels rates are going up for two reasons, because of better Economic Growth and the recovery coming faster than expected. Weve talked about housing, auto and manufacturing at length over the last several months. Yesterday you get a great ism Service Numbers and employment and back log all going in the right direction and suggests growth and the jolts number today was better than expected as well youre definitely Getting Better growth mean youre starting to price in a Biden Victory or a blue wave, but youre probably pricing in stimulus, right . Does mnuchin and pelosi come to an agreement and we get more stimulus the sectors outperforming conform to a biden win clearly they are pricing in something here i still think theres plenty of uncertainty and thats why were going to kind of bobble around in the market. We dont have these answers yet so i wouldnt be surprised some volatility i want to embrace that and i want to buy cyclicals. Youre painting a fairly rosie picture of the economy, steph. Let me get to job lipton we do have breaking news on apple. You may have seen a flash on the bottom of our screen josh lipton fills us in right now. Josh apple just now giving out invitations here for its next big event. It reads high speed, please join us for a special apple event from apple park. Watch it online apple. Com october 13th at 10 a. M. Pacif. Pacific. We would expect tim cook to announce the new 5g enabled iphones. Some suggest four models we need details on pricing demand easily beating expectations in its most recent quarter. A lot of investors will ask questions about what will be the demand given the challenges of the pandemic and recession but apples next big event, october 13th starting at 10 a. M. Pacific. Back to you. Appreciate that, josh lipton. Gang a gang, were going to get back to our election conversation, economy conversation let keep the ball in the air, doc. Big position you have in apple we started our program with rising rates and impacting some of these big tech stocks it obviously had a great run, has apple, up more than 50 year to day however, it is 17 or so off of its high how does this event play into where the stock goes from here asking a guy who is long on the stock is like asking me if i had a bet on kansas city last night if i was rooting for them or if i was betting with my heart. I really think apple is going to continue to do well. I think the 5g is a game changer. I think that taking out logitec devices and sonos devices out of their online store kind of told you a lot about where theythin they are as far as that they think they dont need those peripherals. They think you can still buy them at best buy or amazon but taking them out of their store as they did today and both of those stocks trading down pretty hard, apple is going to do very well theyre virtually in a different position of everybody else with the exception of possibly microsoft as far as the amount of cash they generate and where they can borrow. Rates are going up we saw some big put. Es put purchases and theyve made some nice coin on those purchases and a lot of us think can you continue to see rates moving up, even though those contrary to what everybody said. They said it would be lower forever. I do think we will go back to lower, scott, but in the short term were going to see a pop out of rate and thats what that bet in november on those Interest Rates etfs told me. Josh, how much of the 5g is already in apple and the move that we saw . You have to believe that some of the move in the stock building up to this moment was because of 5g, right . Steve weis has talked about it all the time on this program, as is many people what do you think . Well, i think that many investors are aware of the opportunities that 5g creates but im not sure analysts have done a ton of changes to estimates based on how well they think the next phone will sell so i would argue that while theres broad awareness of how amazing a 5g future will be for the ecosystem, im not sure thats definitely in the stock and if it was, clearly a lot of that enthusiasm has already come out given the draw down that apple is in right now. So i wouldnt use that as a reason to not want to enter a position here. All right i want to get back to the conversation we were having. Steph, you know, as i went to you about this costa note, which is pretty provocative in terms of what the outcomes of the election could mean for your portfolios, which a lot of people care about, were four weeks to the day from election day and you did you were painting a very rosie scenario for the economy. I dont know if a lot of people agree with you on that, but thats what youre attributin attributing thats the whole point. Thats what youre attributing the move higher in rates to more than anything else both. Its both. I said its coming from both reasons, better economy and getting more certainty on the elections and more importantly it fiscal. I think fiscal, they got to get it done. You cant have 14 Million People unemployed, right . So theyre going to get it done, its a matter of timing. Is it Pelosi Mnuchin ahead of the election or is it biden if he wins and it doesnt even have to be a blue wave, you still have an interest of getting some sort of fiscal done. So these two things, when value and cyclicals start to work you see better growth and inflation starting to go up. By the way, inflation breakevens have resumed their upward cause its a big tell. Were not going to see rampant inflation and massive growth were going to see massive growth in the Third Quarter but then returns to 4, 5 but thats still pretty darn good rob sechan, how do we score this out here . Youve got the prospects of a big spending package, if it is a blue wave, the markets might be trying to price that in, versus what could be higher taxes, Capital Gains and corporate, and the prospect of fewer buybacks, which would be the result as well of higher taxes, lower earnings and would that be lower stock prices, too . And more regulation in that environment. I think heres what you have. You have higher taxes and more regulation taking a back seat to more stimulus right now. In addition you have the notion that theres likely to be a vaccine or treatment sometime in the intermediate term. You know, i dont want to get too off sides on this notion, though, because lets remember, on november 7th, 2016 the betting markets going into the next day, which was the election day, had Hillary Clinton at 89 chance to win and donald trump at 11 chance. So theres certainly a lot of surprise that can happen i think what the markets have liked is the certainty that comes from the notion of biden widening his lead. Okay theres still a lot that can happen with a month to go, and i think we could get back into this contested notion and that might be disruptive to markets, okay if im thinking about how to position portfolios right now, were overweight global stocks for sure because the risk trade for the long term is on, but we built some cash and we built some cash out of the areas that we felt were the most frothy, taking back a little bit of our gains in tech, moving in to some industrial exposure with the notion that in the intermediate term were going to see the cyclical pickup continue, which were already seeing in the numbers that steph talked about. Unless, josh, as you suggested on this show, that that pick up and cyclical stocks and value stocks is another false move, it only lasts for a very shore period of time, its what you look at through a stock like and it doesnt show any signs of slowing do you any twn soon i agree with what rob had to say, that balance between an uncertain election outcome, but the coming of a vaccine, which i think most people expect news on at some point before the end of this year, i actually think it will be earlier. So thats that push and pull and people are like, well, why is the stock market so close to alltime highs if everyones worried about the election because what theyre actually doing is the fear of all of that is taking place away from the stock market in the Options Market let take a look at the vix its over 28 the average level of the vix has been about 17. About 80 above the average of the vix the entirety of the Trump Presidency and even before then thats significant puts and calls out of the window of the money thats is where peoples fears about a contested election are taking place additionally, theres a lot of money in treasuries. Even though yields have risen somewhat, that money is going to stay there through the end of the year this contested election could go on through december. Dont forget, al gore didnt concede until december 13th or something. Does anyone want to say this version will be more benign than that one i dont. I think thats where the fear trade is happening its not happening in stock prices right now josh, forgive me. Ill come back to you i promise. I have breaking news with phil lebeau regarding the airlines. We just received a memo from American Airlines, the pilots union. The union is saying it will be postponing at least until december the beginning of 737 max Pilot Training now, at first blush this is one reason why shares of boeing are lower. The reality is that you have mainly a scheduling issue here and they want to make sure the plane is recertified, which many believe it will be by midnovember the fact that theyre pushing trainer from december to november, back to december, not huge in the eye of the pilots or in the eyes of American Airlines either the Pilot Training which was scheduled to begin in november for 737 max, the recertification of the max, once that is done, that Pilot Training has been pushed off to december we appreciate it, phil. Thanks for the update. Phil lebeau there for us steph, you own boeing. I do. Its not surprising at all i think whats more positive is the faa head just flew two rounds on the 737 max and had very positive things to say. We know its coming. Its a timing issue. This year is a writeoff anyways. Its all about the coming years and getting that plane up in the air. You have to have patience. I would be adding to it today if it goes a lot lower because i do think next year the setup is quite good josh, i want to come back to you on what we were talking about. You were making a point about what could be in store for election day i dont want to run over the point we were making as well about growth and stocks like crowd strike, which we were looking at and youve been making the point that it is poised for even more of a breakout so you can finish your point you were making earlier, please, but also get to the crowd strike issue for our viewers, if you dont mind. So crowd strike is emblematic of what i want to say. There are basically three mega trends right now this has not been a difficult sixmonth period in the stock market quite frankly what all three mega trends have in common is they were inevitable before the pandemic and they accelerated housing we talked about, they look unbelievable, stewart insuri insuran insurance, you cant close on a home without Title Insurance and home sales are up 20 year after year thats not going to stop crowd strike, can you not do this work if youre not protecting not only data but workloads. And crowd strike is in a tam thats potentially 1 trillion over the next five years so they are growing twice as fast according to Goldman Sachs, than all of their peers, which are also growing fast. The more stuff that moves digitally the more you require end Point Security and Network Security and crowd strike is crushing and the third megatrend is consumer facing businesses that have figured out how to move to digital and appbased. I own starbucks. 94 is the alltime high prepandem prepandemic. Starbucks is one of the companies that has an app that works literally like magic i can walk into a starbucks and to the even have to make e eye contact with someone, which is my dream if you know me these are the stocks that feed into the mega trends taking place right now and all the pandemic economy has done is accelerate those trends. There are winners everywhere within those three categories. But you could also everything you said could be absolutely true but you could still have bubble pockets, if you will, john, within areas of tech, even if the story is great and the story works, these stocks have gone up a lot. Some of these stocks are trading at sky high valuations ubs today takes on one of the issues of their five key questions for the last quarter of the year and asks the question is the tech bubble about to burst they dont even think tech is in a bubble at all. They say current valuations appear justified given expected Earnings Growth of 18 i dont know do you agree with that are you comfortable with where tech is trading as a group as a group, yes, i am, scott. And, you know, we just heard with josh lipton talking with twilio ceo and i think that many of these areas will continue to grow in 20212022 and on now, will they grow at the same pace, which is a different question, i dont think so i dont even think apple will grow at that same pace i dont really think very many of us do but holding on to gains of the sort that youve seen out of twilio or even out of if you want to stretch tech a little bit, over to roku, there are a lot of these stocks, scott, that continue to grow, even after covid is in the rear view mirror because weve embraced them, we like the tech and because theyve built basically nice moats for themselves i think the valuations are okay, and its still the area that i want to be in versus those value stocks so speaking of those value stocks, rob, the flip side of course of the stocks that have done everything, so to speak, are those that have done next to nothing. And those are the banks. So lets end this segment of our program discussing the banks because in the past five days, bank etfs are up more than 10 oneweek performance, the kbe 10. 5, the kre 11 , citi8, jpmorgan up 5, goldman and Morgan Stanley up 4 respectiv y respectively, 4. 5 and 4 for goldman and Morgan Stanley respectively do we believe in the bank trade or not, rob . Were neutral financials but theyre beneficiaries of this rotations raid to cyclicals. So should we get a sustained upward trajectory in rates, banks will do very well in that environment. The Economic Activity that were seeing, m a activity, ipo activity were seeing. Banks should do well in that type of environment. We think thats too early to call in a serge call way with financials, but you do get the benefits of this rotation, the value in other cyclicals because of values componencomponentry we russell 1,000 value. I think one of the things that people miss is you do not need tech to roll over for these to do well. What you need is when we come up on the end of the year and you have actuarial investors, generally they put capital in the most attractive place. If we can see this economic acceleration continuing, i think that Capital Allocation is going to go less to fixed income and more into equities, more into Global Equities and more into cyclical equities if that happens, not at the expense of tech i want to make one more point, scott, if i can. The real action weve seen, and josh pointed it out, i think its really interesting for anybody trying to help clients navigate these markets, and it the volatility and missed pricing that weve seen in options. What weve done is try to help clients take advantage of that missed pricing so they can manage risk in their portfolios in an intelligent way by selling tho those that are trying to maintain their equity exposure, buying out of the money puts, which has driven those prices to extreme levels good stuff. Let take a quick break and well come back and lets talk about this mystery stock its a red hot stock and two bullish calls made on it tonight and two of our expertsno welly welcome back, everybody. Im sue herera floridas Governor Desantis has extended Voter Registration in that state by a day after floridas Online System crashed. The new registration deadline is 7 p. M. Tonight hurricane delta has grown to become a major category 4 storm. Maximum sustained winds are now 130 Miles Per HourRoyal Dutch Shell said it evacuating all nonessential personnel from its facilities in the u. S. Italys Health Minister discussing a proposal to make masks mandatory outdoors to combat recent coronavirus outbreaks. Tomorrow the government is expected to pass new restrictions, including the mask mandates and limits on gatherings here on a plaflight between arizona and utah, a fight broke out between passengers after one refused to wear a mask he was told his face shield was not enough protection. Its the new world we live in. Thats the new update this hour. Scottie, back to you 2020 in america, sue. Thats where were at. Cant be over soon enough you say that. Thanks, sue herera i mentioned two price target hikes for our miystery stock oppenheimer goes to 600. Steph, josh, you both own it you go first it was a positive analyst day yesterday. They did a very good job highlight the the opportunities in hardware and software and the ecosystem that as a. I. Penetrates market shares they can grow the difference the nvidia is their platform scale, it gives them the competitive advantage and the arm acquisition only is going to help this they increase their total Addressable Market from 50 billion to 100 billion by 2024 thats right around the corner so naturally numbers go up, price targets go up. I like the story, i like the total address of the market concept. Im a little uneasy with the 62 Going Forward estimate and it a secular business and one i want to own scott, so you agree with everything steph said . Everybody weve talked about on the show the last five years has happened and is happening. Bmo says nvidias pace of innovation appears to be accelerating and its excuse is going into overdrive and they are basically taking on not on bigger penetration within the total Addressable Markets that they currently serve but plowing their way into new ones that demand analysts to take note and rethink the way theyre valuing this company this is from oppenheimer nvidia is transform williing fra chip company to a full stack data platform. Theyre a combination of what theyve been able to build themselves and the acquisition of melinox what theyre doing on a. I. If they can close the arm holdings. Arm holdings sold 22 billion chips last year. Nvidia is not in mobile. This is yet another potentially transformative deal. Everything gpu is flying because of the video game supercycle we have a in p. S. And new xbox coming for christmas and all of the new games are requiring more and more of this kind of distributing graphical processing nvidia is the name in all of these massive markets and getting into new ones. For those reasons ive stayed long on the stock. Valuationwise, 45 times earnin earnings, which is roughly in line it not that outrageous the stock has got up a lot but its business is going up a lot, too. Its not this out of the blue thing happening with the stock price, its reefer fleflecting d execution and innovation im long, going to stay long other than to trim a little bit as the position grew too big for the overall portfolio. Coming up, john has his latest trades in unusual activity as we go to break, take c on they pryy y utilitiesyy py pry pry hawn pelotonk this quick break. Welcome bak peloton shares have raised over 12 in the past weeks. Bullish traders are jumping into the game are they a little late, doc . Were hoping not, scott theyve been buying in this name for quite a while. They were buying last week at 97, 98 and theyre pushing to 112 today. Theyre buying the 115 calls that expire next friday. Theyre buying those 115 calls insp instead of buying the stock because they can spend 4 for the call instead of 112 for the stock. You only have a limited amount of time to be right. Probably three to five days. Second trade this is moving up pretty fast and thats the iwm the iwm as far as this week expiration, the stock was 157 or 157. 50 today they were buying the 159 call, scott. Big numbers. They bought those right away now the stock has run to about 159 just moments ago ill be in that trade probably about two to three days. Finally just a quick update, exalta, that coating kcompany i talked about, it doubled and is trading almost 140 ive taken half that position and will leave the rest on for four more days thank you for that. Thank you for that. Coming but you can certainly take it all. The lexus es. Wow, this rain is bananas. Now available with awd. Lease the 2021 es 250 awd for 359 a month for 36 months. Experience amazing. At your lexus dealer. Before we talk about taxsaudreys expecting. New . Twins were wed be closer to the twins. Change in plans. At fidelity, a change in plans is always part of the plan. Y for skin as alive as you are. Dont settle for silver champion your skin were back after this. Y prtg n y welcome back today we unveil our Second Annual adviser list, representing 485 billion in assets under management. They were ranked using a proprietary methodology by cnbc with data provider and total account size and total accounts under management the Number One Firm on this list, second year in a row, salem investment counselors. Nice to see you again. Thank you, scott. Its great to be back. Its wonderful for us. You must be doing something well if youre back two years in a row. I hope so we think were doing some things right give me your broad view of the market before we dial down into some names. I think probably like last year the markets okay you could argue on some metrics its expensive but when adjusted for Interest Rates where they are, it seems fine you know, were looking at an economic reopening, i think. Were looking at probably some good science on the horizon probable vaccine, probable treatments and were looking at a tremendous amount of stimulus in the system. We think the markets fine it looks to me from the places that you like and dislike and the positions that you have, youre not a huge believer in a rotation away from this growth trade or tech trade into a lot of the value places, right no, i think were sticking with momentum. Like last year, weve owned apple for over ten years, amazon for four or five, microsoft for probably 25 years. We are really longterm holders of some of these wonderful companies. And weve been looking around for new things to do, you know, this year early in march added several names in the housing area i think thats a longer term trend probably, but by and large we are sticking with those large cap bogrowth stocks that weve owned for a long time. Lennar is one of those housing stocks apple, microsoft, amazon, alphab alphabet, facebook it obviously been top heavy in the way that those stocks have moved certainly early on in the year for the most part of the year they are off a fairly decent amount from their highs do you worry at all about this move higher in rates and that trade falling in any way, shape or form out of favor . Not too much. I think if we get a move in rates, it probably means the economys Getting Better, right . So that probably bodes well for those companies and we do have berkshire as a large holding, pepsis a large holding. So its not like we are and we own two of the major banks, bank of america and jpmorgan so we try to have a pretty diverse portfolio that can maybe do well under all kinds of weather, if you would. Whats your most recent buy most recent i can tell you probably most recent like four buys pinterest we added three or four months ago, green Brick Partners in the housing area, pfizer and k. B. Homes probably two or three months ago playing a lot of the themes that have been working, as you said yeah. I have a top 100 adviser with me on the committee today id like to bring into our conversation, too. Rob sechan, you have a question for mr. Rea . Yeah. When you think about the magnitude of the move in some of these valuations, how do you think about imagimanaging risk come into uncertain environments for your clients is it more of a holdthrough methodology, do you pair, reposition, raise cash how do you think about that . Yeah, thats a great question and as somebody told me early in my career, its easy to buy stuff, its hard to know when to sell it. So the way we manage risk is if you think about the stocks that we just got done talking about, apple and microsoft and amazon, you know, those have grown so much that they get to be outsized positions for clients so we pare those back. We really havent sold a major position for a while, but if we made a mistake or something has run way out of favor, well sell it, but typically we are paring back positions and then, you know, like this year we might have pared back some apple and amazon and bought some housing names or social media names for people so its more that than in our 41 years of being here, weve really only had two or three times that we thought we could make like a market call. So its more paring back risk. David, i appreciate it. Congratulations to you and your firm and lets not wait another year to have a conversation about the markets, all right lets do it any time. Weve got a great firm and a great client base and wonderful staff. So any time you guys want. Thank you so much. You be well later this month, the summit will bring together the top Advisory Firms to explore the states of the markets. Join our josh brown to discover new ways to address the increasingly complex needs of your clients that will be just a couple weeks time, october the 10th lets get to Kayla Tausche she has breaking news on president Donald Trumps condition. Sounds like its continuing to improve. Reporter it is, scott. We just got a memo released by the physician to the president that says he met with the president with a team of doctors at the residence, at the white house this morning and that he had a restful first night at home and is currently presenting no symptoms of covid19. He says the president s vital signs and physical exam remain stable and the president has an ambulatory saturation level of 95 to 97 and that oxygen saturation level is important because that was one of the vital signs that when it dropped on friday led doctors to send the president or recommend that he go to walter reed so the president s condition is continuing to improve as he continues his care from the white house residence. Treinin tndg he right direction for sure kayla, thank youy 20 years ago, i was an hourly associate cart pusher. Y prtg the different positions ive had taught me how to be there for others. Ny i started out as a cashier. I mean, the skys the limit with walmart. Its all up to you. Traders are playing that next. Y time for the futures outlook. Crude is higher today on supply disruptions. Lets bring in jeff kelberg and bill baruch. Jeff, what are you focused on . Nice to see it back above 40. Q4 expectations for crude oil are weak so, therefore, im looking for the correlation of crude oil to u. S. Equities its very similar to my delivery with the relationship with the pizza hut delivery guy, on and off. Right now i see it back on and the fundamentals and all the Economic Data we look at issic abouting up. Well see demand move further to increase the price of crude oil. Bill, ive seep this movie before does it have a different ending before we could. 36. 5 Double Bottom big powerful move to start the week, up 10 before you know it, so where to now . 39. 5 were immediate term bullish above that but the moving average is 32 is. 37 and weve got to get above that. We could see the golden cross. Need to start closing out above 41. 5 which should bring a tailwind to 42. 5 but we have before we talk about taxsmart investing, whats new . Audreys expecting. Twins wed be closer to the twins. Change in plans. At f telity, a change in plans is always part of the plan. See ity py taking california for a ride. Companies like uber, lyft, doordash. Breaking state employment laws for years. Now these multibilliondollar companies wrote deceptive prop 22 to buy themselves a new law. To deny drivers the rights they deserve. No sick leave. No workers comp. No unemployment benefits. Vote no on the deceptive uber, lyft, doordash prop 22. One ride california doesnt want to take. Welcome back time trades in a moment. Steph, talk about a stock youve been adding to dont go anywhere. Dont go anywhere. Xpo logistics. Youre not done yet. You added to it. I did, yeah i really do like a logistics space. This company has lag, ups and fedex. Margin upside, Free Cash Flow growth and excellent execution, so like this Management Team a lot. Ill continue to add to it going aradding to industrials . Correct this was ms re going to do them both at the same time. Go ahead. Economic acceleration happening, ism, all the manufacturing data looks really strong, possibility of more stimulus coming down the line, and a really engaged fed thats probably going to let this blow off and simmer over before they get involved so have to like that sector. Thanks for being here today. Jon najarian, a few things to cover with you bank of america. Okay. Tell me about bank of america, what youve done there before you get to your final trade. All right big upside callbuying there now, scott now they are in the money calls because the stock moved up through the strike price, through 25 thats the strike they are buying its it was a cheap shot. It was 1 100 of the money you would have had to spend to buy the stock, so i was in those. Okay. And your final trade facebook. 265 calls that expire this friday, 15,000 of them have traded. Josh, quick with your final trade. Starbucks. Okay. And steph, to you as well, final trade . Zimmer, zimmer. Okay. Now youre free to go, steph, okay okay. Now i dont want to. All right i dont want you to go either. Thanks for watching. Have a great day, everybody. The exchange starts now. Thank you, scott, and hi, everybody. Welcome to the exchange. Weakness feeds on weakness thats the warning from fed chair powell today as he calls on congress to act and act quickly on covid relief. Well have the latest and the market impact. Where teens are and arent spending their money this year, and the stocks most affected by that. And september surge. Retail i