On his tweets. A feel good story i cannot wait to talk about. The ceo who is putting veterans back to work. All that and so much more on making money. Charles stocks in the green. Investors digest positive earnings reports. Economic data continues to be positive. You know this week weve been focusing on a couple themes, right . Investment rotation, major breakouts how i think wall street is pricing stock market were learning to live and prosper while coexisting with the virus. Where do we go from here . We want to bring in phil blancato. Your assessment with were seeing in this market. I think we have rotation going on. Cyclical stocks, value names but the break out has been impressive. It has. Were only down 4. 25 on the year. Incredible to see how far weve come. Youre seeing most undervalued names, those left behind bounce back, particularly the banks. Theyre having a difficult year. Im less excited about materials and industrials but that is it an area of the market that is showing strength because they were still cheap compared to Everything Else that has rallied. Charles now here is the question. Yesterday we saw technology sell off huge, right . Made an amazing, astonishing rebound. Sold off early this morning. It is coming back. If we talk about rotation, how much of a role can tech lay there, not necessarily go down but tech can be neutral or rest of the market rise or does tech always have to be part of the locomotive . Initially the breadth of the market was narrow, how many stocks succeeded with handful of names. We saw the breadth widen out. 50 of the names in the s p 500 began to lift off. Thats a big deal. So youre right. A rotation was going on. Make money on value side, under loved names like banks, industrials to a degree. More cyclical names will do well to a degree because they are cheaper. But dont forget were in a secular shift what leads markets going forward. We still need tech to do well but diversification matters. You can be on the value side for a while but dont leave tech behind just yet. Charles phil, i love having conversations with you. Your timing over the last six months, a year, has really been impeccable. You made money. You decided when to pause, not to pause. Im curious about two things, a, what youre buying right now, also any kind of regrets or lessons you learned in the last three months because i think we have rewritten the book on investing how quickly the market dropped and how fast it is come bag being . One lesson i learned clearly, i made my whole career based on using squirrely data really matters to me. Guess what . Data is irrelevant. I spent the last few months trying to become a much of a scientist as i can. We think about optimism, the impact of things beyond data that can affect markets in a way we never seen before. Ie the Federal Reserve and medical community. That is one thing that changed my narrative. That will be it for a while. Secondly the regret i have, while i backed out of small caps, international emerging, i dont own them, shifted to large, benefited from it, i dont have the, i look back, probably could have been a bit more aggressive when the narrative the medical Community Came to front. Right now im still conservative. Im still at neutral position. Im 52, 53 stocks in a balanced account. Im not yet willing to go there full on because earnings are just so unknown and the market is not inexpensive but you could have been more aggressive here as the medical community does some things we never seen before. Charles sure. I do me a favor. I need need to come back. President trump taking on social Media Companies signing an executive order removing liability protections. Cheryl casone joins me now with more details. Cheryl. Reporter thats right, charles. President trump is expected to sign an executive order today, more likely this evening on social media. It reportedly will seek to limit broad Legal Protection the Companies Currently have, making it easy for federal regulates to hold Companies Like twitter and facebook liable for suspending accounts or factchecking posts like they did with president trump. Twitter flag flagged this referencing mailin voting but the president claimed is highly fraudulent. Look what he wrote. Governor of california is sending ballots to millions of people and anyone living in the state, he goes on and on. Putting a warning on tweets they showed you, can cautioning readers there is no evidence that mailin voting would increase fraud risk. Another social media giant, Facebook Ceo Mark Zuckerberg responded to the on going controversy in an interview with fox newss dana perino. I just believe strongly that facebook shouldnt be the arbiter of truth for everything that people say online. I think in general private companies probably shouldnt be, especially these Platform Companies shouldnt be in the position of doing that. Reporter late last night jack dorsey responded on twitter about the issue of factchecking on his platform saying he is ultimately accountable for the platforms content. Twitter will point out disputed information. Republicans are working on legislation that would strip twitter of liability protections. Mat gaetz is working on legislation that would strip twitter from federal protections for liability. Reportedly from our team in washington, charles, possibly this evening, well see this executive order. The draft is still being worked on at this hour. Back to you. Charles cheryl, thank you very. Everyone is on pins and needles. Well bring in the legal ramifications of this. National Republican Lawyers Association member harmeet dhillon. A lot of debate what the president can do, what might be inside of this executive order and of course the future role of social Media Companies. What are your thoughts here . Well this is a very important issue and conservatives and others, free speech activists have been waiting for a couple of years. There has been a lot of talk doing is being about the abuses of over application of Communications Decency act section 230 which is the law under discussion here which basically immunized platforms like aol back in the day. Remember dialup internet from content that was transmitted by users but now that has turned into courts refusing to hold the companies liable when they commit torts or privacy violations or suits and sued twitter breaching its own contract what they will use to bounce people off the platform. The court said because of the immunization, you cant sue them for breaching their own contract. That is going too far. That is what the president wants to address. Where theyre publishing their own commentary which they have a right to do. Putting it on top of his, sort of interfering with his use of the platform which is in their terms of service, that is where it gets very hairy and needs to be adjusted. Charles harmeet, i read, obviously bipartisan went in, section 230. Ron wyden, republican, chris cox, democrat, essentially they said they put it in so websites could moderate their sites without having to worry about legal liabilities and then the Electronic Frontier foundation says is the most important law protecting internet speech. So do you worry the removal of that could harm, you know, essentially free speech on the internet . Well it is a great question and im a First Amendment activist and lawyer. So i definitely want to see a robust First Amendment space everywhere. I want to see robust free speech online but, i dont want to see these Companies Act as Campaign Donors effectively by limiting or censoring speech in a way that benefits one candidate over another. I dont want to see them interfering with peoples speech and commercial businesses. They have to do the same Business Practices as others. The president is not trying to strip that law. He cant. Congresses that to do that. What he can do with the law not clear, a lot of areas of it, ask federal agencies to craft rules and craft guidance that will help us clarify the scope. One day hopefully congress can clarify it, you only get these protections if you are willing to abide by certain neutral norms which they are not doing right now although i do Mark Zuckerbergs comments were certainly much better. Charles right. Yeah, Mark Zuckerberg were not arbiters of truth. I think he hit it spot on. Listen, jack dorsey has been under tremendous. Of pressure from his liberal friend. Wasnt a coincidence in my mind, kara swisher wrote an article he take this action and he took this action. Exactly right. Charles well see what the play will be from president trump. Harmeet, always appreciate your legal brilliance. Well see you again real soon. How are you markets handling this. I want to bring in phil blancato. Texs are uneasy with this, not just social media or silicone valley. Does this open a can of worms . You talk about the Technology Leading this rally . Facebook, twitter, they all make money on advertising. We have to be a real shift in public usage of those sites to really draw down the revenue, see how well facebook held up in all of this. So i think impact of its importance, remember as i said before, it is no longer just about data managing market, headlines, get headlines from twitter, places like that. They are relevant. They matter. They have to be made open to everyone. At same token im not ready to say they will get crushed on revenues. Theyre still making lot of money. They are still immensely popular, and part of that secular shift in our society. Charles right. Face bock monetizing instagram today facebook, is good news for them. Phil, always great talking to you. Appreciate your insights on these markets. Folks, the dow is up 150 points. Here is the thing, the market showing resolve. Several states also showing theirs, looking into phase two reopening. Is this why paul krugman is pretty upbeat about the economy . Thats right, paul krugman upbeat about the trump economy. His comments later in the hour. But first, despite protests and strong warnings from the white house, china approving its National Security law for hong kong. Arkansas congressman rick crawford, he will weigh in on that and what is next for our cold war with beijing. Meet jim. For jim, comfort is king. Which is why when it comes to his dentures only new poligrip cushion and comfort will do. The first and only formula with adaptagrip cushioning technology. Choose new poligrip cushion and comfort. Charles despite global outcry, threats from president trump, chinese lawmakers approved a resolution to impose National Security laws from hong kong. This is talking about partial autonomy. The members the house, sending we go uyghurs for the house to sign. This is part and parcel after larger cold war that is insense filing. Oh i think that is absolutely right. I think it was the right thing for to us do to send a strong message about the uyghur population in china. If you want to ask what is happen in china, dont ask chinese but their neighbors. Ask the nations along the border. How theyre treating ethnic minorities or political dizzy cents, religious dissenters, any number of groups they target for reeducation forced labor, all those kind of things and the uyghurs are certainly known for suffering at the hands of the Chinese Communist party. Charles the vote was 4131. Thomascy, get him back on the show find out what he was thinking about. That was lowhanging fruit. Religious persecution we highlight as a nation. When china wants to stop division, treason, what do we do without escalating to this the point that some are concerned that china retaliates not allowing jpmorgan to bank there, hurting apples business or not buying boeing airplanes or do we challenge them and call their bluff . I think we have to challenge them. What weve seen what the coronavirus has really kind of laid bare theyre willingness to not only to abuse their own people but to allow that to take place beyond their borders. They used propaganda to try to tamp down the fact what is was taking place with regard to the coronavirus and humantohuman contact, they found a willing accomplice in the w. H. O. The Global Community is now starting to ask these questions. In fact australia is challenging, asking for an investigation. Their response is to go after australia with tariffs on a variety of Agricultural Products to hurt them. So theyre trying to flex their muscle in the Global Community. I think the Global Community has got to recognize this for what it is. We really need to wake up and smell the coffee with regard to chinas, you know, global intentions here as their stated goal is to become an economic superpower, the supplanting the u. S. Economy. Charles right. Listen, if that is their goal for me, thats fine, but they shouldnt be able to do it by stealing our trade secrets and having lopsided trade agreements. I love it that you brought up australia. They have so much to lose, their economy is so intricately connected to china. For them to take a stand. Then over 100 countries join them, thats a coalition right there. For folks saying were doing these things unilaterallily, the world to your point is speaking out. The chief executive hong kong, carrie lam she made a statement, said rights and freedoms are not absolute. That is something we all should consider and ponder for a moment. That some world leader can say that to its citizens . Yeah i agree with that and thats the kind of thing we need to be united globally to address. So i think that it encouraging countries are united around australia. Theyre willing to challenge. That is important as you point out. What we hear from folks in places like australia, new zealand, other countries in the pacific rim, absence of u. S. Leadership is making a measurable leadership in chinas ability to project power in that region and beyond and it is important that we get behind australia because, were going to need them to get behind us. We cant do this by ourselves. Charles sure. There are things we should do at home to push back against aggressive chinese behavior, but globally, we really need this coalition that is forming to say, hey, were going to hold you to account, china. Were not going to allow you to run roughshod without question. One of the first things we should do is take away their status as a developing nation to be in the wto. This has gone on long enough. They are no longer a developing nation. Charles yeah. No, its crazy how they manipulated that whole scenario. Congressman crawford, thank you very much. Yes, sir, thank you. Charles so, folks here is a question for you. Are the globalists finally losing their grip, and is it time for them to make concessions . Plus a lot of people see a strong rebound in the economy, including some that hate to say as much. I have one of the best ways, one of the best economists to walk us through the opportunities and challenges that face our economy for the rest of the year. Dont give up i know you can see all the world and the mess that were making cant give up and hope god will intercede come on back imagine that we could get it together charles is this a say what moment any think it is. One the of the worlds most wellknown pessimist, depend who is in office, economist paul krugman is saying he is upbeat about the economy. In fact he told bloomberg, my take the covid slump was not caused by imbalances that would take years to correct. That would suggest a fast recovery. I dont see a case for a multiyear depression. He is not alone of course. Earlier in the week Jpmorgan Ceo Jamie Dimon said you could see a fairly rapid recovery. Youre seeing positive effect the of opening up taking place for parts of the economy. I want to bring in the nabe president , constance hunter, one of my favorite economists. Constance, your feel, modeling or attempts to model. Lets say two months ago what weve actually seen, are you surprised . You know, not really. We were expecting parts of the economy to come back and were seeing it for example, the open table data which shows restaurant attendance, so naples, florida has the best outcome. It has come down from down 100 to down 32 . While that is a huge recovery, and were seeing green shoots all around, that is still not, even 98 down, right . With a restaurant operating at 30 down, it is still a restaurant that is under stress and struggling. So were moving in the right direction. Were seeing turn arounds in lots of data. And red books, samestore sales. Were turning back up in the sense that were declining at a slower pace and were seeing this all over the economy in the areas we opened up. That is amazing news. I think well have a bit of a twopiece recovery. So larger firms that have better access to capital are really able to take advantage of the low rates that we have in place but these Smaller Companies that have limited cash flow, limited access to capital, it is going to be a longer haul. Charles you know, you mentioned naples, florida. That is a state been pretty proactive with respect to opening. If you look, new york, chicago, los angeles, open table data may 1st, down 100 . Today, down 100 . So it helps if you open the economy to allow businesses to try to operate obviously with extra safety precautions. Again, listen on monday, tuesday, japan, they talked about the japanese victory, right . They didnt have official lock downs. That they learned to live with the virus. Theyre wearing masks. Can you see an economy in america where we have made the adjustments and get something more robust going than weve got now . Oh, absolutely. One of the things that japan did really well was having a testing and tracing system in place. Now their tracing system is very analog but they had that in place and was doing it. You saw declines [inaudible] dont kid yourself, subway ridership was down 80 in april. Now it has come back but still down. Even though it didnt officially close people took precautions. Mask wearing, is part of their culture. We do see data shows it really helps stop transmission to really below 2 level. That is really, really valuable. Youre right if we engage in right behavior and start doing testing, tracing we will have much better out comes and starting to see that in the data. Our estimation we could have a shaped recover which where the initial upturn in the Third Quarter will my. It will take a while to get back to the precovid level. Charles i got 30 seconds but i got to ask you, there is a lot of chatter about the fed going negative. Powell has resisted this. If we had negative interest rates, just a 30 second synopsys what does it mean . It means the banks [inaudible] when you think about our money market system, the amount of financial we have [inaudible]. Its really not optimal and the fact is that the ecb has done negative rates because they dont have the robustness of tools the fed has, right . They have a bunch of different economies, a bunch of different fiscal systems. They dont have european fdic. A very, very different setup. They had to resort to that. The fed has much more power and many more tools at their disposal. In terms of lender of last resort theyre bridging that gap to the postcovid period. Charles no doubt about it. I powell has stepped up with his magical tool box. Constance, thank you very much, appreciate it. Thank you. Hey, folks as the covid19 pandemic threatens the Global Economy along with lingering u. S. China trade tensions, many could say it unraveled globalism all together. I will bring in two of my favorite globalists, senior fellow Mattie Duppler and wall street journal opinion writer gillian melcher. Mattie, start with you, youre one of my favorite globalists. Unravel this a little bit. I dont think globalists is starting to unravel. Being called your favorite globalists i have been called worse. The reason i am a proglobalist, cap at that timist, there is no Greater Movement that encouraged Human Flourishing than globalism. Since 1980, we go from the extreme poverty, half the world living in extreme poverty to 8. 17 in 2018. Huge prosperity, increase in literacy, private property rights, all things good for people. To use the current trends, current circumstances to reverse that trend i think is extremely problematic. It is even worse if you say the current circumstances need to revert how were thinking of our relationship with china. This in particular is reflected what the white house has been doing. It has been teasing buy America Executive order. Reshore pharmaceutical manufacturing. Reshore the consumption of good and medical Services Even though in march the white house did the opposite t executed a some of the tariffs on chinese medical goods, recognizing that if you increase the cost of these goods you get less of them. What we need is Public Policy in place to allow charles lets be honest, there is no, there is no u. S. Alternatives right now. I think thats the lesson a lot of people are learning. You know, jillian, you like the globalism too, mattie mentioned 1980. That is a good number. Where real incomes in america started to stall. They have been going down for decade after decade. Yeah, globalism has been wonderful, wonderful. You have people who were peasants in china 30 years ago, now theyre driving mercedesbenz. I applaud that, but come at a lot of people believe at the expense of americans. Well i do think we have a role to play in the world, and what were seeing right now is intensifying clash of those values on international stage. Look if the United States retreats from the world, china will fill that vacuum. Weve seen what a force for chaos that can be the last year. Weve seen them stealing our intellectual property. Weve seen them lying, covering up about the pandemic, Coronavirus Crisis and spiral out of control. We see them violate International Law and take over hong kong, smash freedoms there. I think if the United States does not take active role if we do not, call it globalist approach, approach where the United States leads charles no, im just saying by offshoring more factories to china is not going to make them weaker, it will make them stronger. This is how they became so belligerent in the first place. We made them wealthy. Charles, china gets wealthier, the rest of the world gets wealthier too. That is really the key here. It is not zerosum game between us and china. What charles mattie, when is the last time youve been to idaho, kansas . Are you kidding me . A lot of americans have been running in place for decades. Charles im in wisconsin right now. Talk about the country, im in wisconsin right now where people are doing charles talk to these folk. Im talking to folks. Charles all right. Charles, i can agree with you there, we have been unprepared for some of the consequences of globalism, but globalism itself has been good for the american consumer, american employer and the american worker. Talk about incomes, incomes may have stalled from 1980 to 1990, but the next two decades they were going gangbusters. We have a lot of things factoring into next i think we need to take closer look, but when you look at inputs are, pro prosperity in the United States an around the world, because we have more capital i love your passion mattie, jillian. The control room is yelling at me. We will have this conversation again. Were going to block out a lot more time because your equation should start with jobs before consumers. You have to have a job before you can be a consumer. Ladies i do appreciate it. Globalism see you later. Thanks, charles. Charles at 2 45, i have got one marine veteran ceo explaining how seeing increased demand for his labor during this pandemic. What he is doing to put vets back to work. Race for vaccine causing several stocks to soar. One company may have hoodwinked investors. You know it. I hope you didnt get stuck in it. Well explain after the break. At carvana, no matter what car you buy from us, you get the freedom of a 7day return policy. This isnt some dealership test drive around the block. Its better. This is seven days to put your carvana car to the test and see if it fits your life. Load it up with a weeks worth of groceries. Take the kiddos out for ice cream. Check that it has enough wiggle room in your garage. You get the time to make sure you love it. And on the 6th day, well reach out and make sure everythings amazing. If so. Excellent. If not, swap it out for another or return it for a refund. Its that simple. Because at carvana, your car happiness is what makes us happy. Charles folks, recently weve seen moderna, you know the hot vaccine company, working on this covid thing. Insiders have had a barrage of selling. So the question has been, maybe, have we been hoodwinked . Have investors been hoodwinked . The company is toast of the town. They went to washington, d. C. , with potential covid19 vaccine in hand. All it needed was a helping hand. On april 16th it announced that the u. S. Government provided them 483 million. They wanted them to help ramp up production of the vaccine candidate as it entered phase two questions. The stock went up and management began to dump shares big time. The ceo dumped 200,000 shares 52 and 62. The section tranche, 76 to 87 a share. The chief medical officer had two tranches. 125,000 shares. First one in of 0dollar range. The second one at 78 a share. The selling from what i understand is not illegal but very unseemly, because taxpayers really helped this company, giving it the company that it received. Now, not one patient by the way, not responding well. We heard news about that we heard news about 89 million in Insider Selling from the top five executives. Now all of sudden the bloom is off the rose. The stock is up a little bit but way off the 87dollar intraday high an may 18th. The company could come through, but this ask cautionary tale for investors including the United States government. I want to bring in Keith Fitzgerald from the fitzgerald group. I want to get your thoughts on this. They reached out to me on email and social media, my research firm. A lot of people wanted to buy the stock. The massive selling by moderna executives is a red flag for me. Charles, number one, this stinks. The optics are terrible. Everything that gives wall street a bad name. The Company Claims that these were legal sales part of a 10b1, executives preplanned it. You know what, charles, they didnt plan the announcement of the vaccine. They didnt plan the announcement of Everything Else led to this, with the huge runup in the first place. I think they ought to be vested. Should put it into charity, claw it back. I dont know what can be done here but this stinks. Charles it does. Again, if you have a automatic selling plan, selling 10,000 shares every week, 20,000 shares every week. Okay. That is in place. When 20,000 become as quarter of a million, when you told the public youre doing so great, something is absolutely wrong there. I would say, memo to the u. S. Government, i love this operation warp speed but the next time we give any company money, make sure that the something attached there, you cant sell while were trying to help you build something real. Now, let me ask you, overall, with this whole vaccine thing, listen, it is going to happen but does it have to happen for this rally to continue for you, keith . I tell you what, it doesnt have to happen, charles but it is going to be a very important contributor to factor. And heres why. The narrative has shifted from doom and gloom a few weeks ago, to the positive optimism that you and i talk so continually about. That is what fuels growth. That is what fuels hope. That is what fuels cash flow. So do we have to have it . Into no. Would it make the market take off like a rocket if we do . Absolutely. At that point there would be zero question about reopening and the prudence of doing so. Charles of course i always have to lien lean on you with the china, the latest provocation from china. Well hear from the white house officially what their reaction will be. How much should we be worried as investors . You know, im doing that calculus every single day. This is extremely disturbing to me, what theyre doing over there. They are definitely using the covid virus and our preoccupation with keeping this country under control to move into hong kong and to rubber stamp that there. So, eventually this will Impact Business in hong kong. It is going to impact the markets but i think hopefully, we will have brought critical supplies back to the United States at that point. We will have other avenues available to us. So i am extremely hopeful that the markets will deal with it, rather than tanking again. Charles i got a globalist in wisconsin says youre wrong. Keith, thanks a lot. I might be. I might be, charles. That is always a possibility but as an investor you got to bet on the upside and the optimism and optimism well get through this. China might not. Charles thanks a lot, buddy. Meanwhile the pandemic causing businesses to close their doors, we know that but one marine veteran, a ceo vowing to at adapt and overcome. Coming up he shares how he is helping other vets find work. Well be right back. You wouldnt accept an incomplete job from anyone else. So why accept it from your allergy pills . Flonase relieves your worst symptoms which most pills dont. Get allinone allergy relief for 24 hours, with flonase. Charles we have breaking news for you right now. The Boston Marathon has officially been canceled for 2020. The race normally held in april had been postponed until september. Again the iconic Boston Marathon has been canceled due to the pandemic. While covid19 crippled the u. S. Job market the challenge for our vets to find work is more daunting than ever, but one organization is changing that and expanding their reach further. Combined arms is putting vets to work even in the middle of this pandemic, folks. Ceo and veteran joins me now. First of all, thank you for your service, and secondly share your story with us. Howdy, charles, thank you so much for having me, thank you for your service in the air force. Appreciate you. Charles thanks. So, appreciate, and as you mentioned here in combined arms in texas weve done a considerable amount to really mobilize hundreds of veterans to provide the covid19 Community Response here in the area, whether thats going to backfill critical Front Line Health Care roles or to do Contact Tracing here with our county government and our state government. Veterans have a particular skill set and experience as you know, to get out there during times of crisis and really impact the community and their country. Charles there is no doubt about it. They have been trained. They have been through it. They understand it, very well. John, here is the thing. Have you, i noticed it, but youre right in the thick of it. Just how much more appreciative this country is of veterans and maybe opportunities, you know, as you look at the data, feels like veterans of more recent wars are having a easier time, wont say it is easier, but easier time finding work, acceptance and help out there . Absolutely. I totally agree i think the corporate sectors are much more educated about the value and skills and experience that veterans and their families bring to the workforce upon transition from the military but the problems remain the same. We have 200, 250,000 young men and women leaving the military he have year, which creates the largest number of displaced workers every year in the world because theyre moving from california, virginia, back to places like texas and they dont have a professional personal network to help set them up. What weve done is curated group of government organizations, nonprofit organizations to help transition veterans into the workforce to make a incredible economic and social impact here in our great state and beyond. Charles john what, what motivated you to do this . Was there, did you have an epiphany, was it a personal experience . What motivated you, because your drive is changing lives for so many people . Well, thank you, charles, i think what motivated me as it motivates many others like ourselves who have made that sometimes difficult transition from military to the civilian life, it is to insure our brothers and other sisters and their families have it better than we had. A lot of these institutions, a lot of these economic pathways did not exist for veterans even a few years ago and i think its owed a great debt to the state, owes a great debt to the National Partners and players that we have in the corporate sector that have really come together to help address this problem and insure that they get connected into the workforce as quickly and as effectively as possible. I think the motivation really is to insure that these young men and women dont fall through the cracks. That they can continue to make an incredible, incredible contribution to our fantastic country. Charles bless you. Again, thank you so much for your service and your efforts, john. We appreciate it. Were going to catch up with you again down the road as well. Thank you, charles. Take care. Charles recovery optimism sparking a monster rally for the week. A lot of it has been the cp effect which triggered some of the late sessions. The big question for you where can you find opportunities as we head into the final hour of trading . Stay with us to find out. Charles stocks in the green as we head into the final hour of trading. The dow up more than 1,000 points in the first two days of the trading session so what to propel the rest of the day and the week . I want to bring in david dietze. David, yesterdays session was extremely impressive to me. Nasdaq collapsed, it was down 200 points, and normally with tech stocks collapsing, they bring the rest. They are like an anchor, they bring the rest of the market down, but it was the exact opposite. Somehow all of these other names being up turned technology around. The same thing happened early this morning. We know that buying begets buying, success begets success. Are we getting to the point where major Money Managers have to anticipate whether or not they care to . Yeah, absolutely. What i think we have seen for the last couple days, charles, is a bit of a rotation from the stayathome stocks and the elite few internet plays to other members of the economy, smaller and midsized stocks, financials, industrials, as increasingly we are seeing signs that this consumer is getting out of its cave. Remember, theres two saws about the market i love to recite. One is dont fight the fed. The other is never sell the u. S. Consumer short. As all 50 states now are starting to unlock and end their lockdown, consumers are coming out, they are going to the mall, they want to get on airplanes, they want to go to restaurants and thats spurring hope that the rest of the economy can play catchup here, charles. Charles no doubt about that. Todays session has a more cautious tenor to it. The best performers are utility stocks, up 3 , health care is up twoe over 2 and staples. Those are the three defensive areas. Nonetheless, whats going to be the leadership . In other words, what couple areas could emerge to join tech or even supplant technology as we head into the summer trading . So i think its all about your outlook. If you are skeptical that a vaccine will ever be found, if you are convinced a second wave is going to be terrible, i think the momentum is going to stay with the stayathome stocks, consumer staples, pizza companies, everyone is going to be ordering from amazon. But if you are starting to share my view that actually, even if we see the second wave, even we see it delayed, we will know how to handle it. We have our masks ready. We wont be sending ill Senior Citizens back to senior centers. I think therefore, no matter what happens, the consumers will come out and therefore i think the travel and leisure area, thats one of the great secular tail winds not being affected by the internet. You cant substitute a trip to hawaii by going online. Those are the things where you actually have a chance to move forward on. Charles are there any names that you are looking at now that maybe you wouldnt even have thought about two or three months ago . You know, we certainly like some of the casual restaurant stocks. The one i like which, you know, after study iing bill hacks portfolio is Restaurant Brands international. We own it. Our clients own it. What is that about . They license to burger king, tim hortons doughnuts and popeyes chicken. After you are done eating pizza in your basement, you will want to go out and get some nice comfort food. What i like is charles we got to leave it there. The market did rally as you were speaking. We will share the credit this time. Thank you very much. Liz, not a bad session as we hand it over to you. Liz well, string it together, charles, with yesterday and the day before, and we have a little bit of a gem on our hands we are witnessing. Thank you. Thank you so much, charles. We do at this hour have what appears to be an allout war brewing between the white house and silicon valleys tech titans. Yes, indeed, they are on the verge of erupting as we wait for president trumps executive order on social media. At issue at the very moment is the interpretation whether its free speech or censorship. Of course, it all comes through with the Communications Decency act which gives Companies Like twitter and facebook, not to mention google, et cetera, and other pla