Making money. Charles s p 500 hitting another alltime high today, but google is a drag on nasdaq. Blue chip names are powered by really strong domestic consumer economy. That is trying to lift the dow. Speaking of consumers, confidence report from the Conference Board missed. Key components, including business good, business bad, plentiful jobs all bottom much better. Clearing, the Conference Board declared there are no indicators or indications that consumers will curtail the holiday spending. Were halfway through the earnings season, on cusp of big fed decision. In the hour i want read on markets from jack ablin, and jeff saut. Jeff, i will start with you. I was impressed by blue chip earning results, guidance from him. There is sense of anxiety on the market. Dow was up one point right now. People are still hesitant. If you look at big money poll in barrons, 27 of professional Money Managers were bullish. That is about as low as it gets. Were seeing breakouts. Financials start to come on. Industrials starting to pick up. Market looks healthy to me. Ive been telling you and other people i think earnings will come in better than lowered street expectations. Charles jack, for me, i happen to believe when all the professionals are this anxious or this bearish, its a buy signal. I know wall street likes to say that about the individual investor. Having said that, what will break us out . Indiceshere. Higher . Before i get started i wanted to just give my best wishes to jeff. Great to see him back on tv. A big fan of jeff. No, anyway, psychology is a pendulum. And as jeff was saying, you know, we get bearishness, too far in one direction. What happens is expectations go down. And those expectations are easy to beat. In a market where it is just intersection of reality and expectations much better to have low expectations and have much lower hurdle to beat than you know, widespread bullishness. Anything less than perfection will disappoint. Charles got an email from an investor today saying market feels toppy. I chase fundamentals. Sometimes looks like youre chasing performance. If that is the case, to your point, you should probably be investing in this market. The question is where . I like just about all the sectors, charles. Not real fond of utilities. Not real fond of consumer staples. I think people playing defense will have to chase for performance reasons going into yearend. I think well have a pretty december market into the new year. Charles think about this, jack. Merck beat and earnings, revenue, guided higher. Pfizer beats on revenue, guides higher. Kelloggs, kelloggs powered by poptarts and pringles surging. Autonation is intriguing. A lot of auto dealers all stocks popped pretty good. This is four years into peak auto. The consumer bedrock of the stock market rally still positioned to keep this going . Thats it. If you look where the bears are, theyre essentially circling wagons and manufacturing. Theyre wringing their hands, manufacturers do dont have enough visibility and clarity to expand. To some degree that is threw. But on other hand as you mentioned, u. S. Economy is really more about the u. S. Consumer. You know, a lot of results that were seeing today are reflection of that. Now i will say before we get too optimistic on kellogg, i think they did have 1. 8 billion or raised 1. 8 in some sales of ancillary businesses. That is really onetime thing. Im not a huge kellogg fan, because theyre really caught on wrong side of consumer tastes right now. Charles although, i see your point. Organic sales were up. It is interesting you say that a lot a lot of people being in the hip investment, beyond meat are getting crushed. People say im sticking with poptarts. Not doing too bad. I understand where tastes are going. We only have a minute, impact of the fed tomorrow, start with you, jeff, where do you see it going . I think they will cut. A nonevent. Fed says they will continue to print money. That will take stocks higher. Charles jack . Thats it. This is the path of least resistance for markets higher. As long as the fed continues to have the spigot open, my guess well see lower rates. Well see some happy talk from the fed also. Charles jack, i echo your sentiment. Wonderful to have jeff in the mix. We love him. We love you too. Both you guys are legends. I appreciate you helping our audience this afternoon. Thanks a lot. You bet. Charles boeing ceo Dennis Mullen berg is testifying or did muilenburg, did testify on capitol hill. That the companies did everything they can to keep the 737 jet safe but lawmakers were having none of it. Families of victims involved in two fatal plan crashes sat behind them. Grady trimble is in washington. Reporter muilenburg started by apologizing to family members but some members said it was crossing dial tears. They stood upholding pictures of people they lost. Boeing grilled them with the relationship over the faa. Some have said it is too cozy as well as the company put profits over the safety of its passengers. Dennis muilenburg admitted with the problems with the control system blamed in the crashes. Families said he didnt do enough to take ownership and take responsibilities for the crashes. Maybe it was a bit dodgy, a bit dodgy but i expected nothing less. He still wont accept the responsibility, that we know all along. That it is really frustrating. For me it is disrespectful for my daughter and the rest of the 157 people who died. Reporter senator ted cruz brought up a Text Exchange between two boeing pilots from back in 2016 which suggested boeing might have known about the problem with that Flight Control system as far back as 2016. Muilenberg said he didnt know the details of the exchange until just the past few weeks. Muilenberg, how in the hell did nobody bring this to your attention in february when you produced this to the department of justice . How did you just read this the couple weeks ago . Youre the ceo. The buck stops with you. Reporter the 737 max is in final stages muilenberg says of getting recertified. It has a critical faa certification flight it has to pass. They have to win over customers and convince flyers, charles, that this plane would be safe to get back on which some victims family members said the plane shouldnt fly again. Charles thank you, grady, appreciate. To gradys point, will the testimony be enough to reassure lawmakers that boeing can be trusted after the 737 debacle . Anthony roman from roman and associates. Thank you for your time. Youve been on the top of this from the beginning. You sent over a whole lot of observations here. I want to get to the point that grady made, muilenberg do you think he took ownership of this and did he take it to the degree that could satisfy the American Public . I think he was very corporate in his presentation. I think he made an attempt to apologize to the family in a sincere way. It didnt quite win them over. This is a very technical and complex subject and the families are very emotional. It would be very difficult to transfer his admitting that boeing made errors, that boeing had trouble with Quality Control issues, that boeing had trouble with some communication issues. And that boeing had trouble with development issues. I dont think that quite carried over, to the families, despite him making these additions which was surprising. Charles look at both parties agreeing on this topic. Senator duckworth. This story rescued the free world, and yet you knew about these problems, you continued to put them into system, the system into place and when we asked you to answer these questions, you have told this committee and you have told me halftruths over and over again. Charles she was pretty tough, anthony, in addition she said that boeing set up these pilots for failure. That the ceo was not being completely trustworthy or honest about his answers. So it gets back to ultimately this plane getting in the air, getting back in service. I think muilenberg was honest in his answers in that he admitted boeing made serious mistakes. They made serious mistakes in development of the software. They made serious mistakes in omitting redundancies from the system. They made serious mistakes about training. They ignored red flags. Was this all because of a profitdriven motivation . Why did they ignore complaints, red flags . Ted cruz talked about the infamous Text Messages with the pilots, thinks like that . Well, you know, boeing is in deep and ferocious competition with airbus. Airbus is developing new aircraft all of the time. Boeing felt at the moment that they had to speed the process up. It is clear they had Quality Control issues. The military pointed out to them, military development projects. Employees pointed out to them. Charles right. Of Quality Control problems. So boeing is going to have swallow this and get better. Charles i asked a general twitter, social media, fly the plane, 85 are saying no. Before i let you go as an expert, do you think when it goes back in service the American Public should get back on this plane . I think it will be a very safe aircraft. Boeing in essence, in the final version is a Great Company that has improved global aviation safety to impeccable levels. Charles right. They made some errors here but i think theyre going to fix them. I think the fixes are in place, for the most part. And that the testing will go well. Charles we should point out during the heat of duckworth and cruz the stock was stumbling, now it is back up. Maybe wall street agrees with you. Always appreciate your expertise. Still to come warning for consumers before you take out a loan online. Breaking this hour, Major Development in ncaa sports, players getting a piece of the Million Dollar action made off them. How soon can athletes expect to cash out on their fame . Well have it for you next. We trust usaa more than any other company out there. They give us excellent customer service, every time. Our 18 year old was in an accident. Usaa took care of her car rental, and getting her car towed. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. Wheeveryone is different. Ta, which is why Xfinity Mobile is a different kind of Wireless Network that lets you design your own data. Choose unlimited, shared data, or mix lines of each and switch any line, anytime. Giving you more choice and control compared to other top wireless carriers. Save up to 400 a year when you switch. Plus, get 50 off when you buy any new lg phone. Xfinity mobile. Click, call or visit a store today. Charles breaking news just moments ago, ncaa taking first steps to allow athletes to benefit from their image and likeness. The board of governors is hoping to preserve the amateur part of the sport without punishing those involved. Deroy murdoch several more states assuming they will do that anyway, maybe ncaa getting ahead of that. A lot of these schools where theyre bringing in tons of money from alumni and endorsements, students get, they dont have to pay tuition, other than that they dont see fruits of their labor. Im with karl marx. People should enjoy the fruits of their labor. Charles this sea change. California leads the way with this kind of stuff. Any overall political ramifications . Does this benefit one party or another, do you think . No, i dont think so. I dont really see any great partisan advantage one way or the other. Charles this morning we had earnings come out from General Motors. They were really amazing. They really were. Cross overs are doing very well. The thing that strikes me with them, north america the operating income was 3 billion. Around the world they lost 63 million. They keep investing a lot of money in china. Theyre taking billions they make in this country to invest in china. We understand they want to be a global it gets back to why americans wonder why you dont put more money into this country. This is the rub with aspects of globalism. Sure. In addition gm was so heavily bailed out back during the downturn, 0809. You would think they would show gratitude for all the money taxpayers put in, put jobs here. This is bigger issue, one of insourcing. If i was President Trump, i would have every u. S. Ambassador overseas, talking about 21 Corporate Tax rate, tremendous deregulation, probusiness attitude out of the white house, rather than hostility under obama. Come to the business here, create jobs hearse. Charles Louis Vuitton in texas hit with a big splash. If we get, there are signs well get at least socalled phase one done, could be sometime next month. If there is a, greater grander bargain, do you think it will be passed . Do you think democrats allow it to be voted on before the election . This is sad thing. This is one of President Trumps great promises a deal with china, looks like it will be signed a couple weeks. It could be possible nancy pelosi will sit on it. We dont want to give President Trump a win going into the election. Well put it into the same circular file that the usmca is right now. That is childish when i expect out of the current Democrat Party. Charles so hard to believe you can do that in this day and age. Where people want these deals. The American Public, farmers, small businesses, the midwest, it seems like such a political liability, not to let the deals go through. This is what the American People want, what the Democrat Party wants to hurt donald j. Trump, 24 7 365. If they think they can break his legs keeping the china or usmca deal locked up. I hope they get pressure on on them. I wouldnt be surprised for them to do nothing for this beyond 2021. Charles americans seeing stagnant wages, costs are going up, lower income americans are looking at new type of credit. They are warning that there are serious pitfalls to this similar to pay day loans. What you need to know about this next. Ero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. There are zero reasons to invest anywhere else. Ive been through two tours of duty, and luckily, i came home with my health. But what almost ended up taking me down. Was a stroke. I thought i was invincible. But its really humbling to face an enemy you dont see coming. Fortunately, life line screening showed me i was at risk. Life line screening is the easy and affordable way to make you aware of undetected Health Problems before they hurt you. 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Targeting the middle class who cant keep up with rising costs as paychecks begun to come up. We have kristen tate. What people are concerned about, because it is online, some of these businesses get in state usury laws. Is there, should we be raising a red flag on this . Well, certainly. Americans love to spend. Which means they love to borrow. These online loans were initially created for low income, low credit americans but as you pointed out, now middle and high income earners are taking advantage of them as well. These loans have insane Interest Rates that are just exorbitant. Ultimately, charles, nobody is forcing people to take out these loans. So i am generally very much against government coming in and heavily regulating these loans. We ought to let market and consumers decide which financial lending products thrive and which ones kind of fall by the wayside. You know what . Some people will get hurt in the process. They will file bankruptcy, but that is the way the market works. We cannot protect everybody from making dumb decisions. I want to point out if the government did step in, that would be the same government that created artificial price increase of things like housing, education and medical costs due to subsidies. These are the same increasing costs that are causing people to take out the loans in the first place. Charles right. Im with you when it comes to buyer beware, but i am concerned in this Political Climate especially, you know, after seeing what happened with the housing crisis. That implosion of the economy propelled president obama into office t created a massive sea change. That is when we get avalanche of regulations, higher taxes. It has taken the economy a long time to get back up to speed, particularly wages. So there seems to be some concern at least, there should be some concern that if this thing blows up, it is not just going to blow up on the folks unfortunately taking these loans, but it could blow up on everyone . Youre right. This ultimately comes down to consumer education. Consumers have to educate themselves about basic finance, spending, savings. Starts in the home and crass room. Bubble public high schools and colleges dont even teach people how to balance a checkbook. The loans could be beneficial for some people in a bind. There could be a place for them in the market. These products should only be used in extreme situations when other lines of credit are not available to the consumer. Use at your own risk. People need to be educated. Charles youre absolutely right. It could be a lifeline for many people. The idea to have some discipline there. We all have desperation from time to tame. Kristen, really appreciate that. Thank you so much, charles. Were watching market. S p 500 is on pace for the second rate record close. The big question is the Federal Reserve, will they put an end to this party. Despite lagging fundraising and lagging enthusiasm joe biden feels he is still the frontrunner but will the allimportant state of iowa pop his bubble . My Political Panel debates this next. Obvious. Sometimes, they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. The Doctors Office might mejust for a shot. O but why go back there when you can stay home with neulasta® onpro . Strong chemo can put you at risk of serious infection. In a key study neulasta® reduced the risk of infection from 17 to 1 a 94 decrease. Neulasta® onpro is designed to deliver neulasta® the day after chemo and is used by most patients today. Neulasta® is for certain Cancer Patients receiving strong chemotherapy. Do not take neulasta® if youre allergic to it or Neupogen Filgrastim . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems allergic reactions, kidney injuries and capillary leak syndrome have occurred. Report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. In patients with sickle cell disorders, serious, sometimes fatal crises can occur. The most common side effect is bone and muscle ache. If youd rather be home ask your doctor about neulasta® onpro. Pay no more than 5 per dose with copay card. Do you still consider yourself the frontrunner. I know im the frontrunner. Find me a National Poll with a notable, couple of exceptions. But look, this is a marathon. Yeah. This is a marathon. Charles joe biden says that he is still the frontrunner but a new poll in the all important state of iowa shows that he might have to rethink that. Now this poll has former Vice President in a distant fourth place behind Elizabeth Warren, mayor pete and Bernie Sanders. This is just with fewer than 100 days to go. On the heels of dismal fundraising numbers. Many wonder if bidens days as frontrunner in any poll are numberedded. We have he didnt seem to convincing. If he was still number one. He is see what we see, hear what we want to hear. He was honest. Charles talking about being number one. He doesnt have to win eye call, doesnt have to win the caucus to be charles youre a political expert. It has happened but it helps a lot to come out the gate pretty strong. It does. Charles when obama won iowa it changed the entire tenor of that democratic process, that process that year. True, however we have seen prior to obama, like i said, you know, democratic, people from, bill clinton came out ahead, wasnt a favorite in iowa. Look, joe biden is to the right of Elizabeth Warren and some of these other Democratic Candidates running like Bernie Sanders. That doesnt appeal to a lot of democrat voting in this primary. But a general election is not a primary. Somebody like joe biden, so say the National Polls, like he pointed out, have a lot more staying power and appeal more to even republicans who may not be happy with trump or what happened to their party. Charles right. And people need to look at that. Charles stephanie, you have got to win the primaries before you get to the general. You cant just leapfrog them. Exactly. Charles hillary tried to leapfrog both processes the primary and general. Biden jumped into the race thinking he had it in the bag. That is what all the polls and pundit had to say. The iowa poll is significant but he has a doubledigit lead in National Polls. His fundraising numbers are not as strong as the other candidates. Charles youre being kind. Not as strong as other candidates . They are really bad. He is struggling, so his campaign is looking, considering superpacs now. Theyre trying a new strategy, online. Theyre looking at social media ads. I got one the other day, he was talking about investigating trump. Hmmm, how about lets investigate hunter biden and his dealings in ukraine and china . Charles talk about one of his chief rivals, Bernie Sanders who is taking his attacks on billionaires to a whole new level. Actually comparing them to drug addicts. Take a listen. Read what some of these people are literally become a religion, i need more, more, like a drug addict. I dont like namecalling. I dont like my side when do it, i dont like the president doing it. Beneath a senator like Bernie Sanders. Charles president obama made a statement, when is enough enough . Talking about very wealthy folks. That kind of comment has come out. Look, people are going to faint, i will quote the bible. It is love of money that is the root of all evil, not necessarily the money. Income inequality is a huge issue for democrats but across the board. Certainly is helped democrats in the past couple weeks. Charles stephanie, if you talk about making more money, doing good with it, i appreciate work bill gates is doing, than the kind of work when government is doing taking our tax receipts. That is exactly what i was thinking. Billionaires are not evil people. As you mentioned a lot a lot ofm are donating money to charities. They create thousands and thousands of jobs. If sanders hate money so much, why isnt millionaire. Why doesnt tom steyer Say Something only billionaire . He criticizes billionaires, if he wants to write a check to me or charities i would be happy to take it. I think charities would be happy to take it as well. Sanders use billionaires as easy target. Most families struggle living paycheck to paycheck. He thinks that is winning message. I think that is wrong. Charles i had five other things to discuss. Will you both come back. Absolutely. Thank you very much. The stock market relied on half dozen names. Socalled fang names. Interesting theyre beginning to flounder. The question where should investors be looking for a better return on their money. One Texas University giving millions of dollars to business students to invest. Is their gamble paying off . Well have an inside look next. Of a different kind. Adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what theyre working for. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead to get to your golf destination. With just a few clicks or a phone call, well pick up and deliver your clubs ontime, guaranteed, for as low as 39. 99. Shipsticks. Com saves you time and money. Make it simple. Make it ship sticks. Shipsticks. Com saves you time and money. Its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast business securityedge automatically protects all the devices on your network. Call 18005016000 today. Charles today the First Time Since beyond meats ipo that shareholders could sell the stock. The shares are tanking. Liz claman has a story, preview in the next hour. Theyre rushing for the exits. 80 of the float outstanding involved people who could sell finally today. Of course they want to cash out but the question is, should you . Today of course as we look at beyond meat, this faux meat that has taken consumers by wildfire, people are so interested in this, a guy thomas george, he runs a Company Called griz sill, he looks at millenial hype around certain stocks. He prevents people from jumping into the wrong ones. He owns shares of beyond meat, not only selling but adding to his position. He will explain why. Of course we too have been watching the boeing hearings, i dont know if you heard, senator ted cruz and senator tammy duckworth, republican and democrat went off on dennis muilenberg, the ceo. Well play the sound bites. Those are pretty intense. James hall, the former ntsb chair. Well talk to him about what he thinks will happen. Charles i am especially interested that in beyond. I think it is oversold. I cant wait to watch the show. He is saying hold on and add. Charles make sure you tune in like you always do to the claman countdown. It is of course at the top of the hour. One Texas University is giving a students a firsthand experience when it comes to investing in the stock market. They are using the millions of the schools dollars. Imagine that, millions of dollars used by the kids, and i went back to the school at university of in dallas. Watch. You give 10 million to a group of how many students and they put that into the stock market . We have 35 students in our undergrad class, 30 in the grad class. Grads have 6 million. Undergrads have 4 million. This is live ammunition. They are given by key donors. They want the student to have a real experience. This whole class is teaching students to present, research and write. Were here today pitching a buy recommendation for eastland chemical company. Were on next energy. And walgreens boots alliance. Why were bullish on American Airlines why we think its a good buy today. Were using real money. It is exciting. This Investment Program started in 1972, but this class only goes back to 2014. I made it as a joke in 2014. I said why dont, to the grad class, they said, that is a great idea we know we can beat the undergrads. This money fund your salary . It does not. Would be conflict of interest. I knew you would ask me that question. It doesnt fund anybodys salary. It funds one of our endowed chairs. Students and former alumni doing mock interviews for their students. So theyre prepared for the job market. If a Company Hires one cox school graduate, they will be back for more. No question about it. The endowment is 1. 2 billion. They discovery. La buy discovery. They all need more content. They need more pipes. I think that is what theyre going for. Discovery may be 40 premium before they graduate or sometime next year. You should be a guest speaker. Professor, don shelley is not academic. He worked in. M a for decades. He started working at the school. He put 40 hours per company that they pitch. And then the class votes. He makes the investment for them. At the end of the year, well track this for our viewers. Well see how they did. If team undergrad beats team grad. Charles im saying go team. Thanks a lot. Im with you. Go smu. Charles make sure to watch lauren and Cheryl Casone every weekday here 5 00 a. M. On fox business. Speaker nancy pelosi pivots to put impeachment on a vote. That is dividing washington, d. C. Even more. How will the decision impact tons of legislative work that Congress Needs to get through, you know, legislating . Texas congressman mark green joins us next. Orlando isnt just the theme park capital of the world, it also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. Charles White House NationalSecurity Officer who was on the call with President Trump with the ukraine president is latest to offer closeddoor deposition to the house in the impeachment today. To his part, President Trump tweeted why are people i never herd of testifying about the call . Read the call transcript and impeachment hoax is over. He went an to say the democrats have a death wish and why nevertrumpers are allowed to testify. We have congressman green. Thank you for being on the show. Great to be here. Charles i was thrilled nancy pelosi will move the process along. As for an american, if you got the goods, lets see them, get this thing overwith one way or the other. Absolutely. Weve been crying for a transparent process. Lets open this thing up. Let people of america have a say. I dont know if it was storming the scif last week or what it is, but suddenly, here three weeks has been shortened to a few days. Theyre in the basement somewhere scratching out something that will hit the floor supposedly on thursday. Charles do republicans though risk alienating the public by attacking some of the people that they have called in for these hearings, just people who may have been on the call or otherwise, who just doing their jobs and explaining at least to the panel what they heard . You know, i dont think, from my standpoint, im seeing a lot of republicans actually attacking witnesses. I think were attacking this process. I mean this process has been a charade. I think, you know, one person cant make a bill a law in the house of representatives. Were a coequal branch of government. That is when 435 of us vote. So far there has been no vote. Suddenly weve been demanding it, there will be a vote. Hopefully between now and then well look at transcripts from all the testimony but yeah, were attacking the process. At least i am. Not the witnesses. Charles you know, we know, by now, were all getting a civics lessons almost every week in this country, which might be a good thing. This is a political process, but it feels more political than ever. It feels like it is going nowhere. It feels very flimsy. The American Public has read the transcript. It is not a smoking gun. You can try to make it one leaving out paragraphs or by assuming what someone was thinking in itself it is not a smoking gun. When do we get on with business of legislation . When can we pass some laws . When can we get the economy moving even greater . Charles, the real sad thing, this proves, the Democrat Party, at least senior leadership, i cant speak for everybody, at least senior leadership, nancy pelosi and schiff, those guys are more concerned about power than they are the people of this great nation. You have the usmca, ready to create hundreds of thousands of jobs. That is even from liberal economists, and they wont let it come to the floor. Instead all the committees are gobbled up, looking into this ridiculous charade. Weve got the transcript. We heard the president of ukraine say there was no pressure and no quid pro quo. The other day john ratcliffe, congressman from texas, asked, when did they know about the money not coming . And they didnt even know . Ukrainians didnt know. If you cant have a quid pro quo if there is no quote. This is a joke. It is ridiculous. Charles we appreciate your honesty. You taking time, sir. Thanks a lot. Thanks, charles. Charles appreciate it. Markets trying to gain traction. Without help of huge tech stocks, are we looking at new normal . Well tee up tomorrows fed decision. Well give you possible outcomes. Speaking of the fed, the fed decision is just one of the major events happening tomorrow that will move these markets. Stay with fox business throughout the day. Third quarter in the morning. Rate cut decision during our hour. Apple will report after the close. Well be right back. Alue like t, there are zero reasons to invest anywhere else. Fidelity. thud crash grunting whistle play it cool and escape heartburn fast with tums chewy bites cooling sensation. Tum tututum tums its the idea that if our mothers were diagnosed with cancer, how would we want them to be treated . Thats exactly how we care for you. With answers and actions. To hear your concerns, quiet your fears, lift your spirits. Thats the mother standard of care. This is how we inspire hope. This is how we heal. Cancer Treatment Centers of america. Appointments available now. Charles folks, were approaching the final hour of trading. The market cant get out of its own way. Google, you know, it is part of the so called stocks. They are 19 of the entire s p 500 market cap, a level we know is unsustainable. Investors where should they be looking for diversification . Bringing in bell point chief Market Strategist david nelson and management money president kim mahoney. It is remarkable, these six stocks put the entire market on their back, took us up and more recently they have been waffling. I think it is great news because there are other names i think people should be looking at. There are other names. Goggle by the way google by the way being down today makes up for yesterday. Looking at etf technology 40 weighted between apple and microsoft. Those are the engines that are working. There are some ones in the xlk. On pullbacks charles but david, are there names outside of this . This morning we saw Great Results from merck, pfizer, kellogg, General Motors and then of course there have been other names that have done pretty well recently. There are a lot of names out there. Right now the industrial sector, even financials are looking really good. A lot of these sectors are doing just as well as the market. I think when people hide in faang names, thats an economic concern. In a digital era these names are the consumer staples, defensive names very often. When i look at industrials, when i look at Consumer Discretionary and financials putting in a good year so far. Thats good news for the markets. Charles take a look at your portfolio, your mutual funds, look at the Top Ten Holdings of all of them. I think you will probably see these same names in almost every single fund no matter what the name of them are. [inaudible]. It is the planet earth funds, it is the you know, they have all the same names, which is great when the market is going up. When the market is going down, you have no diversification, you wonder why you are not doing so well the reason why we have this here is because of the fed. Year ago this time, october 4th, far away from neutral, those companies from the financials to technology, their earnings are pretty strong and forecast high higher er. Here we are. I look at caterpillar their numbers were significantly bad. Thats what im saying though. Investors are looking through the bad numbers sometimes. He makes a great point, cant ignore the elephant in the room, multiple expansion came on the heels of the risk free rate. Charles more accommodative fed. Think back a year ago, we were breaking out at 3 . Charles october 3rd it was the competing charles i tell people every time october 3th last year powell made the worst mistake he made. The dow was at alltime high. He hinted they were going to continue hiking rates last year and this year as well. We lost 5,000 points on that. I think they finally admitted this was a policy mistake and they are now unwinding. Charles they have cut a few times. Maybe tomorrow will be three. Does that neutralize last year . Thats 90 , but wall street wants more. They want to feel like the fed is still going to be accommodative. Can you say that much during the questionandanswer period . He will try to walk the line. Thats typical of him. You have 22 of economists who believe this is it for the year, at least for now. I think how he phrases that and the rhetoric and policy message afterward in the press conference is what the market will focus on, not just the headlines. By the market should not be rooting for soft news for the fed to keep cutting rates. We should be looking at charles and low rates. Why not . I mean, you know, if you are going to root for something, root for it all. The gdp number tomorrow, we think about the fed meeting tomorrow, but apples earnings may be a bigger than the combination of those. They are the leaders, heavily weighted in the s p and the different indexes. Three things are going to happen tomorrow, fed is going to cut rates. Gdp will be softish. Apple, if they can raise guidance, thats our horse again. Charles apple made new highs in the last ten sessions in a row. Theres anxiety building. Now it is set up that people are expecting great numbers from this apple iphone 11. I dont think you will expect it from the iphone 11. Im looking at the services number. Apple investors are trying to transitioning to that service number. Charles it was a huge number last time but it wasnt as much as the street was looking for. Lets go on the assumption maybe they miss and the stock gets hit, how it recovers is important. Charles where does the market go for the year . We have to digest gains into new highs, going november and december and s p still north of 20 , you can hate the market, the Money Managers have to put money to work. They cant be too far behind the ball. Charles you are a little cautious. Where are you now . Still cautious. You know, the one thing i have to recognize charles we have to leave it there. Okay. [laughter] charles we appreciate it. Liz, were down 27 points, but your hour is always crazy. Liz you know, thats for the dow, but hello, the s p. I mean this one could be a squeaker, folks. The s p 500 did hit a new intraday high, but that was hours ago. Right now it is unclear if the s p can lock in its second straight recordsetting close. Investors are treading very cautiously in this final hour of trade ahead of tomorrows Federal Reserve decision on whether to cut rates for a third time this year. So look at the s p. Its down about 2 and 2 3 points. Ok okay, not a lot, but it is still in the red. The dow which has been up and been down. Right now it is down 26. But the nasdaq has been having a torturous tuesday all day long, losing 43 points