Transcripts For FBC Making Money With Charles Payne 20240713

The market this fall. That would be months ahead of schedule. I will get one doctors opinion coming up. All that, a lot more on making money. The president holding a News Conference a short time ago. They went over everything from the virus to the u. S. Economy. Blake burman has the latest. Hey, blake. Reporter cheryl, im told the white house will invoke the defense production act to make sure meat processors will stay open. They will do it through the dpa, declaring that the meat processors are critical infrastructure. Im also told that in this process, the federal government will be providing protective gear for those employees within the Meat Processing plants and will be providing guidance as well. This of course comes as there are fears there could be meat shortages due to workers contracting the coronavirus and those plants have been closing, or forced to close because of it. For example, tyson foods over the weekend, even cautioned that the Food Supply Chain could be breaking. The president says this executive order could potentially be coming as soon as today. Were going to sign an executive order today, i believe, and that will solve any liability problems where they had certain liability problems and, well be in very good shape. Were working with tyson, which is one of the Big Companies in that world and we always work with the farmers there is plenty of supply. There is plenty, as you know there is plenty of supply. Reporter elsewhere today, one of the president s top economists, Kevin Hassett warned that the unemployment numbers in june could range from 16 all the way up even to 20 . Now President Trump isnt willing to say just yet what q2 economic numbers might look like. Instead he is looking to q3 and beyond. Third quarter is a transition quarter. Second quarter is what it is but the, i mean, were in this period where, lets see what the numbers are. Third quarter is a transition. I think Fourth Quarter will be incredibly strong. I think necessary year will be unbelievably strong year. Reporter cheryl, the president making those comments earlier this morning in Oval Office Meeting with Florida Governor ron desantis talking about those states. There was interesting exchange. Talk Bing International flights coming in from south america, they said we will make a decision shortly, whether passengers on the flights should be wearing masks. If the airlines should be forced, not necessarily forced but should go into a program of making sure they test those passengers upon returning to the u. S. We should also hear from the president in about an hours time. The east room of the white house. There will be an event there to celebrate the ppp, Small Business loan program. As you know, cheryl, there are lots of questions how that program especially now phase two being rolled out as were hearing there are certainly problems there. Cheryl . Cheryl secretary mnuchin talking to Stuart Varney this morning about that. He thinks the problems will hopefully be ironed out today. Well get news at 3 00 p. M. On that. Blake burman thank you very. Live from washington for us. Lets take a look back at the dow right now. Were higher 102 points. Were off session highs. President trumps remarks gave a little bit of a boost to the markets. S p is flat. Tech driven nasdaq only higher by seven. A lot of things are happening in the technology names. A lot of key names are lower. I want to show you, netflix, facebook, amazon, microsoft, alphabet. All the stocks which should say have been defensive plays during the pandemic are actually in the red. There is still a sense of resolve in the overall market. Russell that Small Company index, take a look at the russell 2000, up by 2 . What does that mean . That is actually a key indicator. Bets bring in mellon chief investment management, alicia levin. Great to have you here, alicia. Thanks, cheryl. Cheryl talk about the russell 2000. One of the things interesting today in the market, smaller cap, even Midcap Companies are actually performing stronger than larger names. Does that tell you the market is finally starting to find a strong footing . Well its unclear whether this is just tactical catchup trade or a message that the market really sees the end of the lockdown and growth going out. So as you know, the small cap underperformed on the way down, and woefully so and then when we bounced starting on march 23rd the small caps really underperformed because thats where theyre going to be any kind of cash flow issues or bankruptcies you will see it more in the small cap universe. So therefore the small caps really struggled, unlike large cap tech names which really flew in the face of this. When you see that groups that really had underperformed and not just the small caps but also the banks, the financials, starting to get some signs of life, it is really interesting because we know that the market is a forwardlooking mechanism. Cheryl yeah. Were looking to the other side of this. So it is just a very interesting technical signal. You want to kind of want to think through, is there a technical trade here . Is this really a fundamental story Going Forward . Cheryl because some of our viewers have been looking for opportunities in the markets. So many folks that are smart, that have been invested for years know you maybe cant call a bottom but you can sure as heck try to trade up for one if you can. Speaking of looking forward, alphabet coming out after the bell, googles parent, amazon, facebook, microsoft, these have been shocking to say, defensive plays during the pandemic are you thinking at this point this, investors think this play might be over for now, and are we going to get some kind of bad news from any of these guys . There is a couple of things going on. First, we ran some numbers this morning on the five largest tech stocks you just talked about. Performance for those five alone, theyre up 2 yeartodate, while the rest of the s p without those five stocks, down 18 . That is a 20 outperformance yeartodate. That is actually extraordinary, right . So there should be some catchup. The other things making investors nervous in the face of this outperformance that earnings are this week. Cheryl yeah. The truth of the matter is that some of those stocks have advertising issues and others have cost and margin issues and so i think investors are just taking some capital off the table, even though Going Forward the truth is that there are Certain Companies that will get more market share coming out of this. Cheryl thats a really good point. Things are changing. Im about out of time but i got to ask you, well get an advanced read on First Quarter gdp tomorrow. Kevin hassett this morning talking about Second Quarter unenemployment, anywhere from 16 to 20 . The Economic News even though lagging as an indicator are. How interested are you that from perspective the market . From the market point of view, the market seems to have taken the bad economic fundamentals in stride. Very clear march was a shutdown for the last three weeks for the country. That is not a surprise. Gdp is backyard looking number by the time it comes out. The interesting quarter, the Second Quarter, the month of june, what happens in the beginning of the third quarter, to give us a sense what is happening with the fundamentals of the economy. Cheryl were looking for guidance of Companies Reporting earnings. Im not sure we get any from the big tech names. We hoping for something as some of these companies have suspended guidance for 2020. Alicia levin, thanks very much for the perspective. Obviously market as big story for us today. Also whats happening in washington. President trump talking about federal aid for states hard hit by the virus saying he might be taking payroll tax cuts and sanctuary city status into account of the decision making. He said state losses need to be virus related, not a consequence of money mismanagement. Yet a lot of blue states he mentioned give more to the federal pot while others only take. What should be done . Lets bring in to discuss Young Americans liberty analyst, kristin tate. Good to see you. It has been a while. Great to be with you, cheryl. Cheryl lets talk about this, comments from President Trump. Obviously states, nancy pelosi is talking about this, getting money to the states. Andrew cuomo, having this war of words with Mitch Mcconnell when it comes to whether or not the states should file for bankruptcy. What do you think is the right plan for states, blue states, that are struggling right now . Well a lot of states are struggling and federal loans are certainly an option. I prefer short term federal loans over grants or bailouts for cities and states because these municipalities are also likely to spend wait fully if they know they need to pay the money back. What we shouldnt do is bail out long term mismanagement of cities and states that existed long before the virus. For example the state of illinois is requesting 41 billiondollar bailout. Every man, woman, child in that state, owes 19,000 on a 251 billiondollar pension liability. Other blue states like new york, maryland, also want a federal bailout. Generally, these states do not have revenue problems. What they have are spending props. They continue to rack up debt and unfunded pension liabilities. Federal bailouts, they incentivize the destructive spending t send as bad message to states fiscally responsible and show restraint when it comes to spending hasnt happened here in new york. Glad you brought up illinois. Bill de blasio, our mayor here, every day says he wants a federal money, wants a bailout, billion dollar bailout and plus. Want to talk about nancy pelosi. She is kicking the tires on basic universal income, saying that may be worth a look as we deal with this virus. At the same time i was looking into a report this morning about most americans when they start to get the unemployment checks, are adding 600, they will be making more on unemployment, this is half of their, half of americans taking unemployment. Making more on unemployment than they were at their jobs. She is talking about basic income . We have got to get the American People back to work. Of course we need to do it in a safe manner. Sadly many politicians, especially on the left have seized this virus this, horrible pandemic to push their political agenda and expand the size and scope of government. Ubi, that was just increase the reliance on governments at a time we already have a bloated welfare state. What concerns me a lot, cheryl, is that all too often these democrats will propose these Big Government ideas, and then eventually, republicans agree to it too. It is time for taxpayers to put their foot down and say no more of irresponsible spending. We are 24 trillion in debt this cannot go on much longer. Eventually the whole house of cards collapses. It is bankrupting the future generations. The federal deficit, weve got to talk about it. We have been talking about it already even in the middle of this pandemic. Maybe the kendi Kennedy Center niece more money. Good lord. Great to see you, kristin state. Thank you, sterile. Chery. Cheryl Oxford University making a waves on their vaccine. Well talk about bureaucracy red tape around the pandemic is threatening the survival of our rural hospitals. Is your area hospital at risk of shutting down . This is an athlete, twenty reps deep, sprinting past every leak in our softest, smoothest fabric. Shes confident, protected, her strength respected. Depend. The only thing stronger than us, is you. Economy shes confident, protected, her strength respected. Have you worried about your finances in retirement . Learn how senior homeowners are using home equity to improve their monthly cashflow and preserve their savings. Most people thought the three legs of retirement pension, Social Security and savings. Would be enough to get by but its kinda like this three legged stool. A little wobbly. But i think i might have a solution. 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[ 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. Cheryl a potential Coronavirus Vaccine from oxford at a blazing rate. New york times report that six monkeys given the vaccine have not contracted the virus even after heavy exposure. Oxford has even begun human trials. How hopeful should we be we could be closer to a vaccine than we thought . I would like to welcome a doctor, pietri. Great to have you here. Great to see you again. High, cheryl. Cheryl what do you make of that Oxford University study . It is a small study. It is a few animals. There is nothing human about this study, but does it give you hope at all . I think actually more than study on the monkeys. What they did at Oxford University, they already started human trials looking at 6,000 participants by the end of this month and whats different from them, why theyre so much ahead of the game, they have a totally different vaccine than most of them out there. Most of them do use a tiny piece of the virus itself but, scientists at Oxford University actually are doing, using another virus. Usually from the common cold. It is very harmless one. They attached the protein spikes from covid. Basically they exposed, they inject this virus into the body and, virus hijacks the cell, injects its dna inside of the human cell. Then it triggers an immune response. Also they are going to have by september almost 40 million doses available. There is an Indian Company that already agreed to start making this vaccine on the premise it has already been proven as safe. They used the same virus vector for another vaccine about and that was used in 300 plus subjects, safety was determined. Therefore they are moving ahead with making it. Cheryl thats good. Were getting breaking news, according to Johns Hopkins the United States has just passed the million mark of cases of coronavirus, the million mark, a million cases. You think that possibly up to 3 4 of people here in new york, which is obviously a hot spot, may have been infected. Why do you say that. Well, we have the Antibody Testing thats done, that started two weeks ago, the first phase randomly 3,000 participants from grocery stores. Those were shoppers. They were people working there. And they learned that we have four times more cases than we anticipated. So almost 25 of new yorkers are actually positive and been exposed to this virus. But however, these numbers are very different from area to area. If you look at long island, it is only 17 . If you look at los angeles, it is only 3 . Cheryl different story in texas. Different story in louisiana. Thats why some states are reopening and some like here are not. Doctor, thank you very much. Good to have you here. Thank you, cheryl. Cheryl well, we have a big question for you coming up. This bureaucracy, pushing your hospital into closing. How rural hospitals survival is under threat. This is a big business story you will want to tune into. Plus while the markets are slightly lower, there is still money to be made especially when the economy begins to reopen. Stocks worth a look for you. That is coming up next. About medicare and 65, ysupplemental insurance. Medicare is great, but it doesnt cover everything only about 80 of your part b medicare costs, which means you may have to pay for the rest. Thats where Medicare Supplement insurance comes in to help pay for some of what medicare doesnt. Learn how an aarp Medicare Supplement insurance plan, insured by United Healthcare Insurance Company might be the right choice for you. A free decision guide is a great place to start. Call today to request yours. 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A Medicare Supplement plan may help pay for some of the rest. Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. Cheryl hospitals may soon be forced to close their doors despite being in the midst of a global pandemic. These facilities have been forced to halt elective procedures, meaning a huge loss of income for hospitals and for the staff. Joining me now, Commerce Department Deputy Director chris garcia. And, chris, the question for, if you look at multibilliondollar, trillion Dollar Health care industry, 3. 6 trillion industry, 40 of staffing has disappeared from hospitals because of all these elective procedures that have been, that have been halted. This almost goes back to the question the president keeps raising, the is cure worse than the actual virus . What were doing to hospitals being disaster . This is great example why Central Planning does not work. If you think about some of the hospitals that have good practices in place, what were hearing on the ground, having to force the furlough of workers, or to force the halting of the noncritical or noncovid surgeries has caused this economic catastrophe for these hospital the because, if you think about it, you already have 60 million americans that live in rural america. They already have a difficult time accessing health care. So what this does with this overarching order to halt the, the elective surgeries funding many of these hospital workers ability to actually work there, funding salaries, youre creating a shortage of Skilled Labor. So the Skilled Labor is driving up in price. Youre having, you know aside from just the medical supplies, youre having labor costs increase. Youre having fewer people able to treat these nonCovid Patients, and so again why close the entire hospital down to make room for Covid Patients when some of these hospitals dont even have Covid Patients theyre taking care of . That is a big problem. Cheryl this statistic, 43,000 healthcare workers in this country, first month, not working. 43,000 Health Care Workers on the sidelines in the United States. Some, i think about texas, for example, they want to bring back elective procedures. Is that something we discuss even in hot spots like new york . I think every state is different. That is the beauty of our country, we have a federalist type of system here in this nation. What i would say is the headline we need to reopen the economy, reopen the country safely. Not every state is the same. But that is why governors have to use their discretion to open up parts of their economist it is not just restaurants, not just barbershops, suffering, now churches, hospitals, two of the most important parts of our country, spiritually, physically when it comes to our health. I think again the cure cannot be worse than the virus. We have to make sure we do, also put an emphasis on just need to practice safe hygiene. I think hospital workers know how to practice safe hygiene. Lets intrust them doing that. As americans, we cannot operate, live in fear in this nation. The United States is not a nation that live in fear. Were a nation of people that live in triumph and victory. We have to defeat the virus coming together and cheryl at what cost, especially to the nations hospitals and to doctors and nurses again sitting at home . I know some personally not making any income. That is an Economic Disaster as well as the virus disaster. The Economic Disaster. Go ahead. Cheryl i want to move on to this report, because it is a pretty thick report. It is brand new in the wall street journal. Talking about this Interesting Partnership between some of the nations top scientists and influential billionaires a quiet group putting together a plan of action. They want to end the pandemic. Theyre using connections and got their report into the hands of trumps influential advisors. Collins, he told, this is in the journal, he agreed with most of the recommendations. Almost like a Manhattan Project of scientists. What do you make of this story . This is just another beautiful example of the United States being a nation of entrepreneurs. Even in their medical practices, even with their medical backgrounds, theyre coming together, forming a group of individuals from the respective fields at the top of their fields to make recommendations. This is why the president has done such a great job mobilizing the private sector and not disrupting the free market, allowing the free market to work. Allowing for groups like this to advise on informal basis what government cannot do. Government is not nimble. Doesnt matter which administration. It is not nimble. There is too much red tape. What this group can do, develop great ideas and examples for policy ideas, and serve a buffer, so we can really look to see how we can defeat this virus. Cheryl according to the journal this, report got into the hands of the Vice President , the head of the task force. Well see if something comes out of this. Chris, thank you for your perspective. Thank you. Lets reopen the economy safely. Cheryl sure. The list of states reopening economies is growing to his point and retailers in the south and midwest are starting to come back. So what are some stocks investors should look at as the country comes back from the pandemic . Lets talk to bellpointe chief Market Strategist david nelson. David, that is an interesting question. You looked at retail, that is the first and fastest sector to fall in the markets when the pandemic started. Look you have to be careful here. Not all retailers are the same. There will be survivors and these fall to the wayside. I would try to avoid buying those names that were in a secular decline, company like macys where there is mountains of debt. It is attractive under 6 a share, it looks cheap but it is not. Mountains of debt will get bigger, more debt, more equity. Look at names even like best buy, now instituting curbside pickup. Then you have got other retailers as well as lowes, certainly lululemon. Cheryl were looking at macys on that screen. What do you make of macys . They were already struggling, they were slow to get online, when they finally did, they had to start closing down stores. Does macys make it . Look it, macys may make it. That doesnt mean the equity will make it. I will say who will end up with this is other shareholders and debt holders will likely take over the company at some point. So be very careful when you go after a name like that. That is not a name i would certainly endorse. Cheryl i would think too, give me your opinion, weve chainged the way that we live right now. People are changing their lives. A lot of things are going online. I think well get more and more, more people comfortable with amazon, more comfortable with shopping online and getting shoes delivered for example. What does that mean for brickandmortar stores . A lot of names were looking at on our screen still have some pretty expensive real estate . Brickandmortar will be with us. They will be just less players in the space. Some of those will fall to the wayside. I live and work in greenwich, connecticut and you can see in greenwich, number of empty stores on the main avenue there. I would imagine that echoes across the country through just about every community in the United States. There will be survivors. Targets of the world that made a tremendous push online. Theyre doing well there. Other companies will have to do so as well, or they will have to change the instore experience. Make it something you have got to be there, only place you can get it. Cheryl we hope that at least some of these guys survive. David, thank you very much for the ideas. Appreciate it. Thanks, cheryl. Cheryl david nelson. Missouri senator josh hawley is asking the Justice Department to launch a criminal investigation into amazon. Susan li has got more on that story. Susan. Susan after the wall street journal investigative piece last week that alleges that amazon uses data from independent sellers on its website and using that data to better make their own private label goods. Josh hawley writing a letter to bill barr says this goes in violation of section two of the sherman antitrust law, which you remember was used 20 years ago to prosecute a Company Named microsoft. He says this is illegal monopoly amazon is running. Antitrust imposes criminal penalties for companies that try to acquire or maintain monopoly power. Amazons data practices as reported by the wall street journal, appear to meet that description. This is the Trunk Organizer made by a small brooklyn company, bestseller back in 2016. One of the past amazon employees cited in this report, she used a lot of data from the independent seller and Research Reports to better make and better price amazons own Trunk Organizer. When i reached out to amazon again, said whale we dont believe the claims made by the wall street journal are accurate we take the allegations very seriously around launched an internal investigation. To be fair to amazon, we have drugstores, grocery chains, other retailers that also by the way make their own private label goods. We dont know what their data privacy practices are when it comes to Third Party Sellers but it might be honed in on amazons dominant market position overseeing half of the ecommerce space. One of newlyminted trillion Dollar Tech Companies and also booming in these times as people buying at home, streaming online and cemented jeff bezos as the richest man on the planet. Cheryl not to put you on the spot but the other issue i think will emerge on this is the problem of price gouging. You covered that story in the past. Is amazon getting any better dealing with pricegouging during the coronavirus epidemic . We have covered that. N95 masks shot up in price as you can imagine along with clorox wipes and the like. Amazon says this goes against our practices. We have been trying to crack down on that, removing several Third Party Sellers because of that practice sis. Cheryl yeah. It is going to be an interesting story well follow on amazon for sure. You will do it. Susan li. Thank you very much, susan. We have a lot more coming up. Well take a closer look how the coronavirus is impacting the Homeless Population in this country. Plus Bernie Sanders supporters are burning up over new york canceling its primary. Will the states decision come back to hurt joe bidens chances . I came across sofi and it was the best decision of my life. I feel cared about as a member. Were getting a super competitive Interest Rate on our money. Were able to invest through the same exact platform. I really liked that they didnt have any hidden or extra fees. Sofi has brought me peace of mind. Truly thank you for helping me prepare for whatever the future has in store. 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Cheryl Fox News Contributor Gianno Caldwell recently visited skid row in los angeles to find out what is being done to help the Homeless Population there. Here is a bit of what he found. Well the governor, gavin newsom said, he was providing thousands of beds for the homeless. Have you heard anything about that . No. Nothing . Just now hearing it from you. Just now hearing it. Okay. Have you heard anything about the homeless hotels. Very good. Why didnt you choose to go into the homeless hotels. I didnt choose, i havent been there but i am here. I am safe. Cheryl gianno joins me now. This is fascinating. They knew about it. But she had no interest going to a hotel. Why . Yeah. That was interesting, rather bizarre to me as well. She said that she felt safe around all those individuals. As you know there is a lot of Mental Illness issues that occur in those particular areas, skid row to be exact. There is about 5000 Homeless People from any given night that may reside in that particular area. When i went out to shoot this story, i went out there because of a personal experience i had. I went and bought groceries for homeless lady who requested some. When i brought them back, she went up on me, six feet, six feet. She didnt know what i was talking about. If they. You about the coronavirus, what do they get information about, and if they knew about the homeless hotels. You saw from the footage a lot of people were totally unaware. Cheryl is this a l. A. Issue . I was talking to a Technology Source of mind yesterday in San Francisco, she said in San Francisco the streets are clear and clean. She has never seen San Francisco look so pristine because that Homeless Population, for the most part has gone to the hotels. Is this a mayor problem . Well, ive been hearing a number so there are issues i think when it comes to Government Accountability from mayor Eric Garcetti to governor gavin newsom, a lot of things they said were going to take place has not. Clusters of people on skid row, staying on trash. People going to particular shelters. Hand washing units. I didnt see a whole lot. People look at full video on my instagram and twitter at g caldwell, the government said would take place but didnt. California, there are over 151,000 Homeless Individuals in the state of california. A quarter of this nations population. These same issues are existing in other parts of the country as well. For california specifically we have to hold the government officials accountable because were staying at home. Were staying locked down but those that are homeless are staying on the street. They could potentially transmit this virus if they have it to other people. That is something we all should be concerned about. Not only very vulnerable population but they can also do it to us as well. Cheryl thats what you saw in los angeles. Here in new york, theyre living on our subway system. So there is that problem happening in this city. Its disgusting actually. Lets talk about Something Else happening in new york. We canceled our democratic primary in june. This is infuriating Bernie Sanders supporters. They call it a strike against democracy. What do you think of this move knowing that joe biden is presumptive nominee of for president . We know he is the presumptive nominee but as the Bernie Sanders Campaign Said he suspended his campaign, not ended it. They wanted to use the fact his name was on the ballot to get leverage in the convention. Just like in 2016 when they upended his campaign by way of Hillary Clinton theyre doing the same thing right now. This is enraging Bernie Sanders supporters, some said they will not vote or vote for donald trump this will be very big issue for the biden campaign, i think. Just like with tara reades allegations against joe biden, a lot of them are saying where is the Democratic Party who went after Brett Kavanaugh for the allegations against him but are silent on these other issues. They will have issues throughout i think from the Bernie Sanders supporters. It doesnt seem to be fairness at play here when it comes to this particular campaign. Cheryl well the entire campaign, run for the white house will be very different, in the middle of a pandemic. Giano, thank you very much. Absolutely. Cheryl go to your instagram and twitter that footage you shot is really good. giannocaldwell. Thank you very much. Cheryl thank you very much. President trump set to speak at the top of the next hour from the white house. Well take the comments live here on fox business. Coming up next one wisconsin city is defying the governors stayathome order. Fox business is on the ground to talk to the citys mayor coming up after a quick break. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief cheryl state of wisconsin remains on lockdown but one town is defying the states stayathome orders. Grady trimble joins us live from hartford, wisconsin, with the latest what leadership there is say about this fight with the state. Grady . Reporter cheryl, the mayor here says he is not encouraging businesses to reopen before the states stayathome order expires on may 26 but he says if those businesses do choose to reopen they wont enforce that order and they wont punish those businesses. They point out these types of orders have been crippling small town america and main street america like right here. They point out there are fewer than 100 cases in this county compared to bigger metropolitan areas like milwaukee. So the Common Council of this city got together, they put out this plan. Essentially a framework for Small Businesses to open at their own risk. It outlines some recommendations which include social distancing, customer limits in stores and even logging which customers come into the stores. Heres the mayor. Listen. Were actually treating our adults in the city of hartford as adults. They make the choice. They dont have to go into any business. If you dont want to go into the business, dont go, that is your choice. We believe that is an individual choice. We believe it is a business choice. Thats what were really exercising here. Reporter i will point out here though, cheryl, most businesses on main street here in hartford are closed, except the owner of that yarn shop you see behind me. She says she is opening. One of the reasons is, she says her store is safer and has fewer people say Big Box Stores that have stayed open throughout this whole pandemic. So the safety is here, for sure, right . This is my business. Again, one or two people maybe at a time, versus hundreds much people at a time. So if anyone would feel safe, you would think you would feel safe in a Small Business who normally has one employee, zero employees. This is where the safety is. Reporter and we reached out to the Governors Office to see if they would send anybody to enforce the states stayathome order. We did not hear back but we did ask the owner, at the yarn shop what she would do if state officials came knocking on her door. She said, she would ask if they want to buy some yarn. Cheryl . Cheryl this reminds me, neil cavuto had a dallas salon owner, she said the same thing. My business is clean. Want to come in, spend your money, go right ahead. They have a right to their opinions on this one. Grady, that was a great story. Thank you very much. Grady trimble out in wisconsin for us today. Well the dow is showing its resolve right now. We got you covered as we head to the final hour of trading. We are up by 81 on the dow. Nasdaq down by 50. A lot of tech earnings coming out this week. Interesting story. Well be on it coming back after a break. Thats why Td Ameritrade designed a firstofitskind, personalized education center. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well except now, youre binge learning. For a limited time, get up to 800 when you open and fund an account. Call 8663009417 or visit tdameritrade. Com learn. And let me tell you something, rodeo. I wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. 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Well, that investment can give you taxfree cash just when you need it. Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Cheryl all right. Stocks are mixed heading into the final hour of trading. Earnings season is in full swing. Some big names reporting this week, especially the Big Technology companies. Lets bring in danny hughes and david nicholas. Great to have you guys here. Dan dani, i want to start with you on technology. We have microsoft, alphabet, facebook, the Big Technology companies. The question is guidance from these companies. Do we get any . What are you expecting . I think we will get at least some verbal guidance to what theyre expecting, what we can but i think numbers might be pulled. It depends on the company, though. One of the things that we really are watching right now is Advertising Sales from these big guys, so google reports later today after the close, tomorrow weve got facebook which we own, microsoft which we own. Thursday, apple, amazon and twitter. Its a monumental earnings season. Cheryl rough to see the red numbers. It makes you kind of wonder, david, on the flipside, is it because these stocks were basically defensive names and they have been during the pandemic, or if theres some whisper numbers out there were not hearing about. Yeah. It could be the whisper trade. I think its somewhat of a valuation story as well. Investors were paying a premium for these companies and youre right, these companies, facebook, amazon, apple, google, they turned into more defensive type names but i just think its all about premiums. Can these companies justify a valuation, market breadth has improved over the last couple days which is good but its been a very thin rally. Tech has been leading this rally. When we normally get thin rallies like this, we normally see selloffs. I think we have to be cautious as investors because if these companies cannot continue to drive earnings growth, you know, the question is are investors going to continue to pay a premium for these names. I dont think so. So i think that could spell trouble for the overall rally. Cheryl obviously its about the consumer, especially if you look at amazon or even facebook and apple, really apple and amazon on our screen. It was interesting because Kevin Hassett was giving a briefing earlier today, excuse me, an interview, he was saying he thinks unemployment will be anywhere from 16 to 20 unemployment. I mean, the consumer has been crushed, they are home, a lot of them are unemployed. 26 million unemployed in this country now in the last five weeks. How bad could this be for us . I think we are not really seeing it be so bad in the stock market. This has really been a nice bumpup for the last couple weeks cheryl thats the woerry, though. That is the worry. May 8th is when the april numbers come out for unemployment and i think thats where we are really going to see what this impact has been over at least this last month. And it has been monumental. I think that what we are going to see is the consumer is not consuming. But there are a lot of areas of the market where the consumer is consuming and thats certainly in the telecom, in anything that connects us together, and energy. We arent getting in our cars and driving anywhere. We certainly are using a lot of power and interestingly, the names that have done pretty well in the energy space have been the Clean Energy Names which is nice to see. Some solar names up huge today. I think that we are going to see some of those things Going Forward. Cheryl interesting. You know what, gasoline is so cheap and were not driving anywhere. We cant even take advantage of it. David, real quick, got about a minute half, we are getting this white house event 3 00 p. M. Eastern time. It will be a Small Business event, the ppp, Small Business again crushed, hoping for a lifeline from the government. Russ 2000 has been a strong performer today. The Small Business story, does it turn around . Its got to. Many Small Businesses like my own applied for ppp, we were in a portal, just to give you yesterday out of 200 businesses they had at the bank that we use, we were 10 out of 200 that got approved. Theres still a lot of Small Businesses right now that need this lifeline. I hope the government will give us something today thats showing that the treasury, the feds have opened up the window to get Small Business the loans they need. This is make or break for Small Businesses that are the backbone of the u. S. Economy. I hope we make some progress there. Cheryl they drive the economy. We will get a read on First Quarter gdp, that advanced read tomorrow. What are you expecting . Ten seconds. I dont think its going to be good but we have seen numbers that are way, way more terrible than what we are going to get. Its going to be bad. I think it will affect the market, too. Cheryl yeah. I think youre right. Thank you both for the market perspective on a mixed day. The dow kind of losing a little steam and the nasdaq really losing some steam. Guys, thank you very much. As i mentioned, top of the hour, theres going to be a Small Business event at the white house. The president is going to be there. Liz claman is going to take you through it. Hey, liz. Liz yeah. Small business, but big business for our viewers, because you know, you can see that markets are kind of hunting for direction on day two of part two of the Paycheck Protection Program and they might just find it in the next few minutes because as cheryl mentioned, President Trump is about to speak before our cameras in the east room of the white house on the beleaguered Paycheck Protection Program. The room is empty at the moment but as we await him, we can tell you that banks both big and small are not happy. With hundreds of thousands of Small Business applications that were already waiting in the pipeline over the weekend, people d