Transcripts For FBC Making Money With Charles Payne 20240713

Corporate welfare, spending billions of dollars to guarranty the Richest Companies in the world but where is your part . All that and much more on making money. Charles stock of the day, folks Charles Schwab, Td Ameritrade jumping on news, fox news learn the two plan to merge. Jackie deangelis on the potential take over. Good afternoon, charles. That is a lot of green on the screen. I realize what im wearing here but our colleague Maria Bartiromo did break this news this morning. Im waiting for companies to confirm it. Charles schwab is expected to buy Td Ameritrade for 26 billion. Combine the companies together, the assets are worth five trillion. Which puts the combined company in a Different League in terms of the competition. Ceo Walter Bettinger will run the new companies. The theme of the industry is consoledation. The current environment has been pretty tricky for these companies. Commissions eliminated. Schwab was one of the First Companies to do that in october. Flipping tables and disrupting things. People were worried that schwab would see a reduction in revenues once commissions went away. Schwab said new client accounts went up 31 in october. It somehow managed to balance the business. You mentioned as we opened, others looking to see where we see more mergers in this space. Etrade, interactive brokers, those are names being tossed around, certainly ones to watch. Back to you, charles. Charles jackie, thank you very much the merger news this year has seen a dearth of deals. Is that about to change . David dietze, and Heritage Capital president paul schatz. Paul, so far this year we had 1. 5 trillion in deals in north america. Sounds like a lot but it is nothing. Last year two trillion. 1. 9 trillion going back. Even further than that a lot more. Shocking were at record highs. You would expect record deals as well . You would. What are people doing . Theyre buying back the stock instead. That is what is in vogue right now. Before the bull market end there should be some kind of a merger mania, take over mania, whether gets saw in the 80s where it was outlandishly crazy. Yet to be seen. I will give you a couple. Gw pharma, people think its a cannabis stock. It really isnt. I think that one, at least double from here is one. The charles do you think a regular Biotech Company would make a bid for them to have access to that sort of cannabis Biotech Company, or more than likely a Big Health Care company for sure. I think that is, easy takeover. Charles all the other ones. I want to get david. I want to find out are you surprised at death of major deals . Is it about buying back your own stock . Could we see this all change . Certainly fourmonth ago we were talking being on edge of recession, yield curve inversion, the fed had to start cutting rates. That put a pause in a lot of company as plans to get bigger. We gotten past the soft patch. Fed is on pause because of a better economy. Stock market back to alltime highs. I think we could play catchup for next six months. I agree with you for m a activity. My sector is Electronic Component and distributors. Weve already seen strategic buyers. Weve seen private equity jump into the game. Apollo, clayton have bought two of those companies, astor international. Two i would highlight this afternoon, Aero International and avnet. They have lagged the market. Charles hate to say it two very old boring names. It is interesting because if you look at Td Ameritrade and Charles Schwab, this year coming into todays session, schwab was up less than 8 . Ameritrade was down 16 . Over last three years Charles Schwab is up 14 1 2 . Td ameritrade is up 1 . Viewers watching the show, i want to be in the next big takeover, that is big money overnight. Is that one of the things youre looking for, like stocks that lagged or does that matter . For me it doesnt matter. Im looking where sectors have been dormant forever. Schwab and td, regional banks, except for the suntrust merger, they have been dead for years and years and years. I mean, that sector is screaming for goldman, morgan and bank of america to get involved, get some act at this time going. That is where you could see a real boom at the market peek somewhere down the road. Charles here is a a theory i have i like deals almost all cash. When a company is trading alltime high but still using cash, what they tell shareholders we think our stock is going even higher and it is much more valuable than cash. I love, for instance i would buy Charles Schwab because it is mostly a cash deal. They are suggesting we would rather spend cash than our stock at this level. Sends such a strong statement. When theyre offering the stock you dont know quite what the stock will be worth by the time the deal closes. A much tougher decision to make on the part of the target. You set a cash amount, youre saying exactly what you will do. It is much easier thing for the board to agree on to get the deal done. On takeovers, the invest in the short term. Gets all excited. My stock is up 2, 3, 4, 5, 20, 30 whatever the number is but in the long term a lot of times the company would be better staying off by themselves going solo. It is shortterm gain but they forget about the longterm gain. We love the pops. Waking up, see your company taken over. Charles number one percentage gainer feels so good. What feels so kickky the conversation going on what the heck is going on with trade. China trade official, from the Chinese Ministry said that were negotiating. And we could have fights and negotiate at the same time. Like stories come out, like theyre at each others throats. Of course that is what happens in negotiations here is my bet. This is what im saying this is my theory i think President Trump is going to push off these december 15th tariffs no matter what, with or without a deal. If that happens what does it mean for the market . It means, it is like the market on fire i think. Quite frankly trade is what makes the world go round. Taxes are completely antithetical to growing economy. Tariffs are a tax on trade. If he pushes that off, i think market much higher. We have breaking news. President trump is weighing new trade investigations with respect to the eu. Well get more deis tails on that. Coming into the week a lot of speculation trump would push off potential tariffs on european autos. We heard, eu guy draghi . Charles no the other guy, junk juncker. That is not impacting the market. Were up 12 points since we started our conversation. Tariffs are out there, before we hit the eu thing, china is much more important to the market right now. If President Trump pushes the tariffs off, what does it mean for the market . I think every day, week, month, quarter, the market is getting more and more comfortable with the tariff tantrum. The tiff going back and forth. Things are going back and forth. Alltime highs, were pricing in a lot of good things down the pike. Market is pricing part of this happening or not happening on december 15th. Market is pricing in we wont have all out trade war with the eu if the tariff thing falls apart, clearly we have problem. Good news on the trade front, get a half, full percent kick that day. Charles thank you both very much. We should point out there are 360 billion in tariffs already in place. Our economy and our stock market has done okay. Thank you both very much. Happy thanksgiving. You too. Charles United Auto Workers president gary jones is stepping down as a allegations in a lawsuit. Theyre accusing them of bribing Union Officials to get more favorite contract terms from the uaw. Jeff flock is following all of this corruption. Jeff, i got to tell you, another chapter in a really tough, tough history here. Reporter oh, boy. This is getting crazier by the day, charles. We already knew about the corruption at the union but it is now led to gary jones removal as the president. I say removal, he did resign but the board was set to remove him as president of the union for embezzling member dues, spending lavish sums on cigars and fancy hotels and other things he didnt even account for and you know, he has not been criminally charged yet, and neither has his predecessor, dennis williams, the former president of the uaw. But he has also been implicated in this. He also mentioned in this lawsuit that you mentioned that gm has filed against fca, that is Fiat Chrysler. They say, take a look at the terms of the lawsuit or what theyre alleging. They allege that sergio marchionne, the successful fca ceo, authorized bribes in a multiyear pattern of corruption to essentially get a better deal for fca and eventually take over gm kind of crazy. Gm says it suffered substantial damages because the fca workers, you know, got less money. The Union Leaders agreed to give them less money and gm got the worse of the deal. Fca for its part says that is bunch ba baloney. Here is how they put it from fca current ceo mike manley to his workers. He said were astonished by this filing both its content and its filing. We can only conclude this was tended to disrupt the merger with the peugeot folks psa. We will vigorously defend this meritless lawsuit. When you start blaming the dead guy, that is to say sergio marchionne, i dont know. Certainly some lawyers will make some money on this deal. Not a pretty deal. Charles not pretty. But also another big loser would have to be the Fiat Chrysler workers. The unions are supposed to be trying to get them the best deal. You know, if they did indeed line their pockets at expense of their workers, it could be the worst thing for the Union Movement in a long time, a long time. Reporter people are already mad at them. If this comes to fruition, you could get, you think membership is down now . Get a lot worse. Charles jeff, thank you very much, my friend. Thankthank you. Reporter good to see you, charles. Charles President Trump tweeting recently bringing the word nationalism back into the mainstream. Great job, rich lowery important book. He is here. Why nationalism should not be a dirty word. Most of the democrat took the stage last night and duked it out. Who won the messaging war . Didnt seem like it persuaded Mike Bloomberg just moments ago he made a major move. Well tell you about it when we come back. Imagine a disease is caused by too much of a bad protein, but a Company Develops a way to actually attack it. What drew me to Capital Allocation in Health Sciences was the potential to help many people through investments that help fund medical innovation. My team and i often choose to invest at the very early stages of human trials. Investing lets me use everything ive learned as a doctor to help make a positive impact. So thats why i go beyond the numbers. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. Serious side effects may include pancreatitis. Taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. And now for their service to the community, we present limu emu doug with this key to the city. [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles President Trumps presidency has been nationalism, advocating for the United States to be the best. National review editor rich lowery says nationalism has become a dirty word and it shouldnt be. America is not just a nation but an idea. The idea is to protect its interests, borders and identity. The author of the case for nationalism, rich lowery. It has been too long. Thanks for having me. Charles you and i did a lot of shows during the election, leading up to the election, it felt like initially there was different sense what this meant. It felt like you were on the other side of this argument, nationalism was a bad thing, dangerous for the country, dangerous for the rest of the world. Where are you now . Whats changed . Yeah. So the book occasioned by trumps inaugural address, got me interested in the topic, thinking about it seriously. I sort of accepted the clicheed version of it, something nasty, wrong, inherently aggressive. As i got into the book, it is very old, natural, powerful phenomenon. People have not been able to wipe it out even though ideologies totalitarianism have attempted to wipe it out. Charles there is distinction between patriotism, pro, nationalism, which is antiother countries. That is not the read no. That interpretation doesnt make any sense. It comes from the word patri, loyalty to the father land and your own. Distinct people bounded together by common culture, common history, should govern its distinct territory. That is what it is. It can spill over into something aggressive and become imperialistic. Charles can it spill over or be hijacked . You know what i mean. People used the bible, to you know, as an excuse to do some really ugly things in this world, so for the, so on but youre saying in its real natural form, that its a good thing . It its true form. President trump, some of the u. N. Addresses says were a distinct and great people. Everyone else around the world they have their own distinct cultures. That is a wonderful thing. Well respect yours. You respect ours. That is true nationalism. His warsaw speech, the best speech of his presidency, the pols, worst part of europe, trampled by occupying armies, trying to partition them, you couldnt do away with polish. Because there is something polish about the pols. True to their tradition and and culture and mores. That applies to us today. Charles who wants to change that . Is it globalists, one world folks, open border folks . Is who pushing to change this . Who would see something wrong with americans proud of their own uniqueness . This would be common sense sentiment, right . Cosmopolitan attitude characterize a lot of elite in this country, elements of government, they have perspective socalled citizen of the world. There is not truly any such thing. If you get in a jam anywhere around the world, get kidnapped, the world doesnt come save you, your country saves you. Your corptry inherently cares more about you than anyone else does there is no universal military or universal language. Charles it is interesting. At one point steve bannon was calling it economic nationalism. Felt like that was a distinction to mitigate the blowback. You say forget about it. It is okay. Be proud of nationalism, that is who we are . American nationalism, small d democratic nationalism. Is key part of the country. It is wrong for democrats to their back on it and republicans to lose it prueher too trump and channel it in the rate way for our future. Charles congratulations on the book. Thanks so much. Last nights democratic debate failed to weed out the very crowded field. Who won the messaging war with voters and is it the moderate side, or the far left. Well ask an expert on that that. That. Facebook to crack under pressure from it rivals on political ads. Well give you details. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. Virtualize their operations. woman and build ai customer experiences. We also keep them ready for the next big opportunity. Like 5g. Almost all the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. shaq chime magenta . I hate cartridges not magenta not magenta. Im not going back to the store. Magenta cartridges are so. buzzer vo the epson ecotank. No more cartridges. It comes with an incredible amount of ink that can save you a lot of frustration. The epson ecotank. Just fill and chill available at. Dropping to near record lows, my team at newday usa is helping more veterans refinance than ever. The newday va streamline refi is the reason why. It lets you shortcut the loan process and refinance with no income verification, no appraisal, and no out of pocket costs. One call can save you 2000 every year. Call my team at newday usa right now. Charles well the fifth democratic debate taking more of a civil tone with much of the debate focused on beating President Trump but that didnt stop them from taking some potshots at each other so who won the messaging game . I will ask beverly hallberg. Overall, beverly, the biggest winners and biggest losers last night. I dont think there was a clear winner because nobody stood out. Joe biden had a rough not. Even before the debate happened he sent out to his supporters, did i make you proud, how did i do . Of course he hadnt even taken the debate stage. He had poor words choices during the debates, domestic violence, how we need to fight against it, saying we need to keep punching it, punching it. Joe biden is a gaffe machine. He does well at polls i will make sure charles i will share that with the audience. I dont think everyone was watching the debate. Here is what beverly is talking about. No man has the rise to raise a hand to a woman in inker other than selfdefense that rarely occurs. We have to change the culture. We need to keep punching at it, punching at it, punching at it. Charles i heard awed automobile groans in the audience. Those things biden never picks up on around him. He has no peripheral vision, when he is doing things in real time, beverly, he never seems to catch it. Which i think is worrisome. I want to ask about klobuchar. She keeps having her moments but feels like she is blossoming a little bit more. Maybe the audience is getting her jokes. I want to play one of the key sounds from her and get your take on it too, okay . If you think a woman cant beat donald trump, nancy pelosi does it every single day. We must get fired up Democratic Base with us, but lets also get the independent and moderate republicans who cannot stomach this guy anymore. Charles what did you make of that . She had a really strong night when it came to messaging. I thought that she did play the female card a little bit too much. I think the line she had about nancy pelosi worked really well but she started talking about whether or not women have it harder in politics than men, taking on mayor pete in reference to that. I think should she be careful with the female card. Like Hillary Clinton whose motto was, its her turn, i think people are happy to vote for a female if they agree with the policies not just because they are a female. One other thing that klobuchar was known for especially on twitter last night, there was a lot of discussion about her movements, seeming to shake when she was on camera, when she was speaking. People said she seemed nervous or health concerns. That is one of the things she was trending on . Charles less than a minute. I got to get winners from you. Winners i think klobuchar really stood out. When you look at Kamala Harris who needed to make a move against Tulsi Gabbard because Tulsi Gabbard bested her in one of the past debates. I thought she was very strong. Mayor pete seemed to hold his own. No one took him on too much. That was a win for him. Charles beverly, always appreciate it. Thank you very much. Thank you. Israeli Prime Minister Benjamin Netanyahu is indicted on bribery and fraud charges. The nations attorney general says netanyahu at one point was making deals with Media Outlets for favorable coverage in exchange for bills weakening rival companies. Netanyahu denies the claim. He says it is all orchestrated, its a quote, witchhunt. Charles frenzy to impeach President Trump is consuming the media and washington, d. C. So much they have allowed corporate welfare to score a big win in washington. It has gone unnoticed until now. We have the details for you next no commission. Delivery drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. I am royalty of racing, i am alfa romeo. I need all the breaks, that i can get. At liberty butchumal cut. Liberty biberty cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Its how we care for our patients like job. 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Charles well the house passed a bill reauthorizing the Exportimport Bank for another 10 years potentially lining the pockets of chinabacked companies. The 85yearold law is paid for by taxpayers with subsidized foreign buyers of u. S. Goods. Critics say it strips away government account ability and also pedals corporate welfare. We want to bring in Heritage Foundation senior advisor, genevieve wood. Good to be here. Charles this used to get people fired up and all the shen against going on in d. C. Provided cover of this. I cant believe Maxine Waters was able to rope in a whole bunch of republicans to get this through this week. When we say capitalism get as bad name, things like this make that the case. Corporate welfare, big business, Big Government come together which is exactly what the xm bank is today. This is handouts for wealthy businesses. That is exactly what exim is. The biggest bush fist as you well know are the Companies Like caterpillar, jon deere, boeing boeing not momandpop shops on main treat america. The reality it is big businesses and businesses that dont need the money. Charles they helped rivals to american companies. Yeah. Charles countries like china, mexico, turkey all benefited. I remember in india, Indian Airlines getting backing to buy boeing planes to go against delta. In a report by heritage, 7500 Domestic Airline jobs may have been lost because the exim bank. Because you had these Foreign Companies in india, for example, making a deal, saying look, we dont have enough money to buy planes from boeing. The United States via taxpayers give a loan to the indian company. It is subsidized loan. They buy planes from boeing at a cheaper rate than Many American airlines such as delta can buy from boeing. Guess what . They can make the rates cheaper. They can increase the number of flights. That is not fair competition. Charles yeah. The fact is we shouldnt be in that type of business. You make a good point. Both sides of the aisle have been very guilty here. I think it may be dead on arrival in the senate. We have to look out for it. Charles im glad were doing this segment. I also want to ask you, it is intriguing this would go through predominantly by democrats talking about the wealth in such a nasty way in the president ial election a new study of people. Annual households of at least 240,000. Get this, genevieve, they find theyre making bigger donations to charities because of politics. The question, are they seeing the light or preemptive like the ray dalios of the world, youre right we need to do something because theyre so afraid if they simply sit there the far left will completely take over and change their lives . Maybe that is the case. Maybe people are worried they will be outed they havent been giving enough. Social media has been great at that showing who is giving it, who doesnt. Im glad people with more are giving back more. I would like their motives to be pure and good but the money still works. Charles it does. Cover of this weeks Time Magazine about the elites falling apart. The overton window that has shifted no matter there has been a major shift and a lot of very wealthy folks calling it guilt, whatever, starting to sympathize with the notion their success has come because we have paved roads and they should be giving back more. Are you okay with us going down this path . Okay with the fact that what the people are feeling that they should give back to their communities . Im okay with that. Charles not just give back with the communities, okay with much higher tax rates, okay with confiscatory tax policies, those kind of things . You know, charles, at the end of the day what those things end up hurting are not the rich folks. The rich folks end up out of them. It hurts folks trying to get up the economic ladder. It doesnt do anything to create jobs. It hurts those who want jobs and get the new jobs and new opportunities in the the long run that is not way we should be going. Charles always great seeing you. Thank you, charles. Charles the markets ignoring the impeachment hearings were getting good oldfashioned consolidation after a monster run to the record lies. With the dow positive a few minutes ago well call that the cp effect. Democratic candidates quick to bash President Trump in last nights debate. The big takeaway is that moderates have been gaining momentum and maybe Mike Bloomberg will join the fray. Well be right back. Ts stays lo. Ts stays lo. Shop small and watch it add up. Small business saturday by American Express is november 30th. 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. 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What we need on the stage in november is someone who has the ability to win and by that we need somebody on the stage with the ability to go toetotoe with donald trump and somebody who has the ability to rebuild the Obama Coalition and bring the party and the nation together. Charles president obama in focus last night at the democratic debate as the candidates fought over who is the one to bring the nation back together this after obama recently warned hey you guys are moving too far to the left. Have the socalled moderates regain the momentum. Chair of the civic for pac, Ford Oconnell and leslie marshall. I have to talk to you. I feel like youre a moderates. That i feel the moderates regained momentum in this process. Depends where youre standing. From my vantage point, feels like Elizabeth Warren and Bernie Sanders lost a little bit. Maybe warrens misstep with respect to the grand schemes that she has. Obviously we see buttigieg rising in polls. We see biden holding. And we see mod rats entering the process. I dont think it is, you know, are the moderates now coming into their own, if you will. I think they have been all along. Biden has been in the top three all along and president obama is right. I wrote a piece about that on foxnews. Com which they put up this warning. The reason he is right the general election is 50state race. The majority of americans are in line with what a centrist moderate democrat is putting out there. That is why one of the reasons mayor pete has risen, kicking it, surging in iowa and New Hampshire is, it is not just his personality. Charles right. It is not just that he was attacking warren. It is that medicare for all who want it, giving them choice and joe biden saying lets keep obamacare, Affordable Care act and build on that. That is appealing to people outside of the democratic party. Charles we have a quote from your piece. Like biden and many of the secondtier candidates buttigieg is taking the path recommended by obama, seeking evolution rather than revolution. Former new york city mayor Michael Bloomberg today filing paperwork for possible president ial run. Sources telling Charlie Gasparino though that there is still no final decision. Ford, i want to bring you into the conversation. You know, patrick deval, Deval Patrick rather is in it. Potentially bloomberg. Buttigieg is rising. Biden holding his own. It feels like maybe the far left scare for the party might be over for now . Look, the far left scare may be over, this may be the battle theyre having but i dont see them as moderates and progressives. I see them as crazier and craziest. It doesnt really matter from a policy standpoint, theyre talking about taxing the middle class, talking about blowing up the Health Care System even talking about a public option. Theyre talking about defacto amnesty for every single illegal alien that crosses the border. From a horse race perspective i see it largely twoperson race between warren and biden of the reason is simple. Warren is the pride and joy of the hard left white voter. Joe biden is essentially getting near majority of the africanamerican vote. If you cant pry the near majority away from biden. He could very well be the be the nominee. The reason is simple. Africanamericans are 25 of democratic primary electorate. I saw candidates hacked off that africanamericans are voting for joe biden, no questions asked whether or not he can complete a thought. Charles real quick on that. We came in with a sound bite of Kamala Harriss the ability to win to go toetotoe with president obama, im sorry, President Trump. Do you agree with that assessment and is ford right . Is it really maybe about warren and biden so far being able to go toetotoe in a general election . First, ford, im not crazy or craziest, i want to be clear on that. Actually she is right. The polls even show that. Democrats number one above any issue want to make trump a one term president. That is why biden continues to hold his place even if he is not winning in iowa. I think he most likely will be the no nominee. He will be somebody that al peals to michigan, wisconsin charles mayor pete, youre not sold on him just yet . No. I think we talked about it off air. I dont feel people look at him, not just the fact he is not doing well with africanamericans. When you look at numbers. If you cant do well as a mayor in your city. I do think the lack of experience will play in. A president with no political experience. Weve seen historically elections are cyclical. A lot of people want people with experience now. To your point, if mayor pete is to be a major player he has to win iowa and New Hampshire. He doesnt approximately that off he will not win south carolina. Africanamerican voters are not open to him. That is the bottom line. Charles impeachment thing i dont know if it is working with the dems with respect to polls. Wisconsin, every democrat was beating trump last month. Now he is beating all major democrats. Weve seen a six point decline for biden. Three percentage points. Sanders four percentage points. Buttigieg. Feels like impeachment is backfiring. Talking about wisconsin, the state many people say will decide the next president. Wisconsin is a very important state. That is one poll. If i saw a lot of polls like that, more than three or more i would be concerned. One. Two, this impeachment should not be about democrats or republicans voting for or against somebody. This is about a process, constitutional responsibility. Charles i hear what youre saying that is the problem. Voters already made up their minds regarding impeachment. 38 of voters dont see this as Impeachable Offense even if you take everything the democrats say. No matter who they drag up to capitol hill. The results dont change. No evidence of an underlying crime. What you cant get around the facts, ukrainians got the aid, there was no investigation of biden. Ive got a transcript. Keep going. This is the best thing that happened to trump thus far. If he doing this well in wisconsin, he will be carried over to florida. He will be reelected. If it was best thing happening to trump we would see huge numbers and polls. We know how harden the opinions are. Charles well see. So far early on, this is one poll. But an important state poll, right. Its a poll that people use in wisconsin. I got to tell you, so far, the Trump Administration you like what youre seeing. First good one he has had. Charles leslie, ford, thank you very much. Thank you, chars. Charles later in the hour why cannabis stocks are getting a contact high from congress and they are on the move. Also pressure brogue on facebook as google becomes the latest tech giant to crack down on political ads. With will zuck follow or will he follow . We have more after the break. Was the potential to help many people through investments that help fund medical innovation. My team and i often choose to invest at the very early stages of human trials. Investing lets me use everything ive learned as a doctor to help make a positive impact. So thats why i go beyond the numbers. Thats why Xfinity Mobile lets you design your own data. You can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. All with millions of secure wifi hotspots and the best lte everywhere else. Its a different kind of wireless network, designed to save you money. Switch and save up to 400 a year. And now get 250 off google pixel 4 during Xfinity Mobile beyond black friday. Thats simple. Easy. Awesome. Click, call or visit a store today. I need all the breaks as athat i can get. Or, at liberty butchemel. Cut. Liberty mu. Line . Cut. Liberty mutual customizes your Car Insurance so you only pay for what you need. Cut. Liberty m. Am i allowed to riff . What if i come out of the water . Liberty biberty. Cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles tesla set to unveil its new cyber punk electric pickup truck later this evening. Claman countdown host liz claman joins me with a preview. Im excited about this and im not an ev fan. I know youre not. Dont you have a pickup truck, charles . Charles i have navigator, the brand new navigator. Oh, my goodness i love it. I never had one, i never envision myself as a pickup truck driver. I will be staying tuned tonight. Were hours away from the big reveal of something elon musk, ceo of tesla and of course spacex, something he talked about for six years and tonight it becomes official. He will unveil this cyber pickup pup truck, where he gotten inspiration from the movie blade runner. Im talking about the original blade runner. Tesla leads, what is interesting, gm is following. Gm announced it will come out with the all electric pickup truck. It wont be ready to about 2021. We await what will happen with tesla in california. Well watch obsessively the stock of tesla. Charles, it is well off the 52 week low. We are as you mentioned earlier in the show, going to be talking about whether bloomberg or Elizabeth Warren or Bernie Sanders or joe biden, has the real narrative for the markets. Jason trennert will talk about it and review it. Charles he is a great guest. My wife wont let me own a pickup truck. Maybe this will push her over the top. Everybody mass to catch the show, especially today, the claman countdown at the top of the hour. Google is restricting highly targeted political ads on its platform. Another tech name doing it but everyone is wondering will its rival join them . Kristina partsinevelos joins us. There is report from the wall street journal i reached out to the company to confirm this several times. They havent responded back. The report is saying facebook is considering changing its political advertising practices in general by making sure that there is no low minimum. Say youre a political campaign, you only want to target specifically 200 people. They would increase that minimum to a lot higher. Why is that . To stop the spread of fake news. Seems like facebook there has been a lot of rumors, we know that zuckerberg spoke with the president and that bromance is performing. A comparison across the board for big tech versus political advertisers especially as were 348 days from the election. Twitter says they will ban all political ads. Facebook is still reconsidering its ad policy the latest, google. Google said they are going to ban all advertisements that are targeting people from a certain political affiliation. Google knows this, they look at which sites you click on. They make the assumption whether youre a republican or democrat or somewhere in the middle. They target you with a specific ad. This for google will be rolling out june 6th in the United States. Globally in the uk a little bit sooner. Last but not least, we know once they start cutting this off, that means ad revenue could be hit. Look at numbers, since june 201, 28 million. Alone. The big spender, trump election committee. Charles thanks. Final hour of trading. Industries are slightly lower. It happens after you have monster runs. It is the calm before the next big move. Dont know which direction. Speaking of highs, the latest move by the house, giving cannabis stocks a contact high. 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I have a lot of respect for the vice president. This week i hear him literally say that i dont think we should legalize marijuana. I thought you might have been high when you said it. [laughter] charles joe biden, well, he might not have been high when cory booker said that, but marijuana stocks starting to really come on here. And this is all happening after a House Committee voted to legalize pot at the federal level. So are these stocks a good place to roll your money in, or will you end up getting smoked . Money map press strategist Keith Fitz Gerald with us now. Keith, you had a recommendation yesterday, i think Goldman Sachs on one of the big names here, youve got the movement in the house. By the way with, two republicans voted for it. You know, these stocks have been hammered, and its ironic, its counterintuitive, but in general the index is now 50 since the legalization of marijuana in canada, is it time to buy them . Well, i tell you what, charles, this is one of those environments where theres so many punks can puns, you dont know where to start, your money going to go up in smoke, you have to roll it up and light it, who knows . My take is this, these are still very, very speculative investments, and heres why. Legalization is just like the internet in 1999, its this great new thing out there. There is ultimately going to be a role for it, but in the interim, youve got chronic oversupply, a bunch of cowboys running businesses with very little experience, and you have lots and lots of companies that are going to truly get vaporized because they dont have the moxie e to survive. If youre a speculator, yeah, get in now. Id rather see folks go for Companies Like Scotts Miraclegro which is up 70 over the year. Charles with my subscribers im actually down a little bit, i tried to buy it on the recent dip. Constellation brands is a major company, its poured millions of dollars into these names. Is that a way of getting involved but also having protection because they do have other businesses . Well, thats exactly my point. Thats a company i was going to mention as well. You know, because this is like, for example, netflix which is just providing content and burning through capital versus apple or disney who are capable of subsidizing the Business Development costs. Thats a decision thats got to be made in the pot business right now, do you want to get involved with a onetrick pony or go with a company that has other cash flow to subsidize the Business Development that you know is going to be there in five or ten years. Charles we did a segment in a block, gwh was brought up by one of the panelists, well keep january eye on it. Last week they got nhs approval for two medicines. Charlie gasparino put out a tweet that Goldman Sachs is in discussions with u. S. Bank and etrade. We know theres consolidation going on. Do you see consolidation not just in the banking world, but in general, starting to pick up here, keith . I do. And, you know, its interesting to me because this is a critical time for that kind of activity. The stronger players continually invest. And they invest when they sense that they can get a good deal. So to me, this is a logical extension. Weve seen it in energy, in technology. I think were going to see it in finance, but were also going to the see it in the personal brokerage space. Charles and i think that should be good news for consumers, a although some people did ask they get worried when the players whittle down, you know, are they going to be protected. I think right now, to your point, it probably would be great news. Always great, keith, thanks a lot. Thanks, charles. Charles all right. For a second, for a split second we peeked into the green on the Dow Jones Industrial average, were only off 14 points, the calm before the storm. 3 00 is always the most exciting hour of the day. Liz claman, over to you. Liz the pressures on. [laughter] thank you, charles. Great to see you. Well, it is official, former new york city mayor and selfmade billionaire businessman Michael Bloomberg will run as a democrat in the 2020 election if he decides to take the plunge which sources say could be a decision he makes very soon. Its something fellow billionaire and home depot founder ken langone has already applaud on varney company. Listen. Mike would be, to me, a formidable candidate and a great president. Liz how will bloombergs entry, if it does come about, as a democratic candidate shift the narrative from the other 2020 hopefuls we saw on stage l