Lines on the approving process for Coronavirus Vaccines. Were going to have the details and why is Contact Tracing failed to live up to the hype . Well get reaction from fox news medical analyst, dr. Nicole saphier. We have a big show for you, folks. Buckle up. All that and much more on making money. Charles all right, folks, markets, i wont say mixed because overwhelmingly most stocks are higher. Boeing holding down the Dow Jones Industrial average. The big story on nasdaq, they found new leadership if it is not facebook one day it is the semiconductors another day. Facebook of course, we know has been in the news but so has boeing which carried the dow yesterday. They lost a major, a big deal, 92 plane orders. Giving up gains they made on the 737 max jet test flight. Bluechips, from new york fed president john williams, he says he is seeing encouraging data that the economy has indeed begun to recover. Whether it is vshaped, he didnt go that far. Overall it has been aim press sieve session. I like to look at all the names. Most of the sectors in the s p are higher. You have way more winners than losers. Headlines continue to blair about the states closing bars, restaurants, uptick in covid 19, those headlines not having impact on daily trading. The big question overall what exactly are we waiting for . Lets ask Devine Capital ceo, dani hughes. We have consolidated those gains. That is always how the market works. Meantime the mind wanders, what can get us over the next hump . Thats right. Weve had a lot to digest and i think a lot of people are still sitting on the sidelines because they dont know really will there be another leg down . Tremendous amount of naysayers about this market. Well see another leg down. Weve been frankly a little bit cautious because of influx of day traders. This is like day trading 2. 0 that has been happening. Pushing up Companies Like heinz which declared bankruptcy and airlines. It gives somebody pause before they jumped into a market like this which is that volatile. This pandemic created so much loss with respect to health and wealth. Weve got to look at things that are still down not in the same way, charles. Like reits for example. Not all reits, not all reits. I know were not looking at the commercial ones but we like specialty reits like ohi, which is assisted living facilities and skilled nursing. Npw which acquires and develops hospitals. And another one that is kind of like a tag on amazon which i know you probably like, charles, Industrial Logistics Properties trust. It is a mouthful but its a company to watch. Charles you know, dani, i do like the notion of some of these reits. I prefer things associated with 5g buildouts and stuff like that. Reits, Real Estate Investment trusts. Known for having healthy, delicious dividends. I want to circle back on the notion of socalled robin hood traders. I worry if someone is out there, typically an investor, theyre looking for opportunity they would hesitate because some some millenial buying a bankrupt stock. Let them by what they want to buy. There are amazing opportunities out there and they continue to reveal themselves in we look further. You cant use traditional metrics. Forward pe earnings will come in much better than expected. We saw that last earnings season. For people who want to be investors youre saying stay cautious. Go with something that is paying a hefty dividend . You know i love dividends, charles. I agree with you, charles. There has been a lot of crazy volatility i think puts a lot of people off. That to me, is an opportunity in of itself. When day traders pump something up, get destroyed. God bless you all, i will take advantage when it comes down. Charles okay. I want to bring into our conversation jeff saut, the worldrenowned jeff saut who has been right on this market, and jeff, i want to ask you, because the market is a harbinger of things to come. At least that always has been its traditional role. Most people on wall street believe it to be true, still the experts are saying no vshaped recovery in part to the coronavirus and the lockdown but every single day were seeing more signs maybe we will have a vshaped. Today, Consumer Confidence came in 12 points higher than expected. Home prices up 4 , one of the biggest annual jumps ever since going back to 2018. Pending home sales, 44 increase from one month to another. Are you confident that this market, jeff, is still giving us the right message about the economy . Yeah. I think, i think the stock market is more right about the economy than any economist i know. Charles, i know you a long time. You live in new york city. Go to the restaurants. Restaurants are full. The restaurants down here in st. Pete are pull. I think the economy is going to do a lot better than people expect. Earnings, as you suggested will be a lot better than people suggest. I think, there is what, five trillion dollars in money market funds on the sidelines . This is not the way secular bull markets end. I think we have years ahead of us left on. Upside. Charles dani, you mentioned reits. The last few months youve come own on the show you like oil. Break out would be huge. They have come a long way. Is this still one of these beaten down sectors we should be looking at . Were overweight nrg, charles. We took the ride down. Took advantage of pricing when things felt like there was no gravity. We do think the Energy Sector will recover. Shale will take a little bit longer but shale is not dead. As Technology Advances were going to need more energy, period, full stop, globally. This is not going to end. This is not a story or theme that has an ending. We believe there are smart moves out there. That it is following the energy names. As you [inaudible]. Mentioned the other day he is a lot more optimistic than he has been. Charles right. Thinks were in the right place at the right time. Charles i do agree. Were going to use up all of that oil in the ground no matter what the hype is. Jeff, dani, you had some technical issues. Jeff. We will try to bring you back later in the show if we can. I do want to shift, the payroll protection program, ppp, winds down today. 130 billion haas been left on the table. Some business eners believe it or not still not able to get any help from the government. He is a president and ceo after Media Production company in south carolina. He applied to seven lenders for ppp. So far no luck. Shirrard, how confident are you, that the clock is ticking. Obviously you need help. You want to retain your employees and want to keep your business open . Im not confident. To be honest im not confident at all. Charles what happened . Walk us through this. I tweeted something out about an hour 1 2 ago. Youre not alone. People are wondering how could this have happened . They still have over 100 billion on the table. So the money is there. What is wrong with the process . I think the process, i think were just dealing with leadership or management issue. I think there are so many different Business Models in america, particularly creative and Consulting Services that are invoicebased like mine. So we dont have a cash register, right . We operate as an invoicebased business. Invoicebased businesses the way we calculate, the way we do taxes, way we do our accounting are different. I just dont think businesses with our models were thought of when thinking about how they were going to help businesses get through this pandemic. Charles so is this something that the bank, the lenders have told you . And by the way, did you try big banks, small banks, some of the specialty outfits . A lot of folks popped up over the last couple months to say, hey, we can get you this money. I have. I have tried everything. Big banks. Small banks. Unique outfits. There was only one approval that we did get about, oh, a week ago but that is still pending notification from the sba. So what happened with that situation was, they said okay, youve been approved on our end but we have to send it to the sba to see if they approve you. We still havent been back on that. It has been a week. With today being the last day. We applied to everyone. Seven lenders in total. Businesses, small funders, large banks but you know. Were still, were not even waiting anymore. At this point i dont think it is going it happen. Charles lets keep hope alive, to borrow a phrase. Real quick, because i got to wrap this up, there is a lot of people who are complaining that this pp, that 14 of the borrowers got 150,000 or more, but it was 75 of the money. That somehow the Richest Companies got the help and smaller Companies Like you did not. Im not sure how much youre asking for but do you feel like there was unfairness in terms of Larger Companies getting the most attention . I still like the larger Companies Got the most attention. And i think that is how Small Businesses like mine got overlooked, absolutely. Charles all right. Let us know, man. Love to hear back from you later today that you got the money. Well talk again soon, no matter what. Thank you. For having me, charles. Charles folks a new survey finding a third of top advertisers may probably boycott facebook in this growing speech revolt. Coming up i will talk to a guest who warns this corporate activism is actually on americans. When it comes to fighting the virus, the buzzword and great hope was Contact Tracing but it has not lived up to the hype, folks. Why . Well ask dr. Nicole saphier. She will break it down for us. Shes next. Charles the food and Drug Administration planning to release guidelines today outlining its conditions for approving a covid19 vaccine. It is expected to include requiring any treatment to be at least 50 more effective than a placebo preventing disease. Cheryl casone joins us with more details. Cheryl charles, americans are anxiously awaiting a Coronavirus Vaccine to go back to school, go to concert, get their lives back once they knew it. Companies are trying to get the vaccine through the multitiered process. Fda will issue guidelines what it will take to get the vaccine approved. The agency said no vaccine will be approved unless it clearly demonstrated safe and effective, provens a you mentioned, proven to be 50 more effective than a placebo and didnt just lead to antibodies in the blood being created t would have to show there is enough antibodies in the blood to protect the patient from crossexaminationion of coronavirus. Vacs seep makers would have to conduct further monitoring after approval. Earlier the secretary alex azar said the vaccine approved there will be plenty for everybody. Lets listen. Were hoping to have hundreds of millions of doses of a safe, effective vaccine with tens of millions of doses by the fall this year. Cheryl also this morning coronavirus tax force member anter any fauci said that data effectiveness may be available early winter or early part of next year. What those numbers and trials will give to all of us and of course the administration. Here are the companies we continue to watch on a consistent basis. All the companies are developing vaccines, charles. As you can see you have a mix of red and green on your screen right now but the further that they can get, further along the vaccine gets approved, gets out there, gets distributed en masse, the quicker that americans can return to their lives. Charles absolutely. Cheryl, thank you very much. On that note, folks, lets bring in fox news medical analyst dr. Nicole saphier. Doc, were awaiting more details on these vaccine, i want to get back to that, one issue popping up last couple days is Contact Tracing. In the beginning of this whole thing we were told this was going to be some sort of magic bullet. But then we heard from dr. Anthony fauci on friday saying efforts to contain coronavirus using Contact Trace something not working. Not just in america, it is not working anywhere. Why not . Well, charles, for most pandemic there is is no one magic bullet, absolutely not, specifically with covid19. In terms of Contact Tracing there is a fundamental tool that we use during Public Health outbreaks to slow the spread or stop the spread of exposure and contagiousness. However here is the issue with Contact Tracing. One, were under staffed. We dont have enough manpower to do it right now. There much too expansive and way too many cases to have really effective Contact Tracing. Charles all right. You were going in and out but essentially youre saying its a manpower issue. It has nothing to do with Public Perception or anything like that. Because it hasnt worked anywhere except china which has different sort of government. When they say do something you have to do it. Well thats right, charles and the bottom line is it is not government mandated. There are just sheer volume of cases alone make Contact Tracing different cut, especially here in the United States. The bottom line is, by taking personal responsibility, as people test positive it is up to them, they should contact those they have come in contact with in the last three to five days to help slow the spread of disease. Charles okay. Lets keep on the theme of personal responsibility. Obviously we knew cases were going to go up as we reopened the economy but now, some people are talking about just the inability of us to sort of social distance. There is recent gallup poll, newest one say americans say they always practice social distancing when theyre outside. It is starting to plateau, even drift a little bit. How do we juxtapose certain things we are being told we must do, like social distancing, wearing masks, to how we are as, as species, interact with each other very closely . Listen, chars, were very social population. It is important that we gather and that we start coming together. And you know, when the majority of people say they do practice social distancing thats true. It is not that people are not trying to practice social distancing. People are just trying to get back to normal life. With that, we just have to remember, take the facts. We know that the virus has increased transmission in small indoor spaces, in public areas such as riding Public Transportation like the subway and the bus system. So those are the places where youre increased risk of viral transmission. Those are the places you consider wearing a mask. When youre outside, you dont want to necessarily be right up in someones face but you can be together, you can have the social interaction. We want to continue to move forward. But when it comes to reopening up, when it comes to the economy, it is in our power to lessen the spread of this virus if we want to [no audio] charles all right. Dr. Saphier. Thank you very much. Always appreciate, not always your medical advice but your words of wisdom. Later in the hour, folks, your 20yearold may be able to school you on investing. Young people dropping videogame controller, picking up day trading as well as actively investing. Jerome powells pitch for Fiscal Health the nation is going towards statism. The question, is has capitalism failed the masses . Is that a moot point right now . I will ask Brian Brenberg after the break safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him safe drivers do save 40 . Click or call for a quote today. Charles fed chair Jerome Powell and treasury secretary Steve Mnuchin testifying before congress on economic recovery efforts. Edward lawrence is live with what they had to say. It was a mouthful, wasnt it, edward . Reporter oh, it was. In fact that hearing is still going on, talking about House Financial Services committee. Now both, there was a lot of questions about the Paycheck Protection Program and the both jay powell and Steve Mnuchin wore masks. Under the payroll protection program, 4. 8 million loans were giverren out. Now 135 billion would be left after today in the program. Today is the last day to apply for a loan. The treasury secretary says he already had conversations with the Small Business administration and congress to repurpose that money left over. Listen. There appears to be bipartisan support in the senate to repurpose the 130 billion for ppp, extending it to businesses that are most hard hit. That have a requirement that their revenues have dropped significantly. Things like restaurants and hotels and others where it is critical to get people back to work. Reporter now mnuchin reiterated negotiations on the next round of help through congress will start in july. Democrats on the Committee Want to make sure before that next round of talks start they want full transparency. That includes what Companies Got the ppp loans. Listen. I cannot be able in good sense to make a determination of the way the program should go or what tweaks or what reforms this Program Needs unless we have access to the data. Reporter mnuchin says that the data will be released by the end of the week. A source in the administration telling me theyre going to postit online with the Small Business administration on thursday. Right before we go on the 4th of july holiday break. This is reversal of the treasury secretary. He would not release the information. Pressure from lawmakers, and threats of lawsuits for the freedom of information act forced his hand on this charles . Neil we have to have full transparency on all of it. Edward, thank you very much. Jay powell hinting at a more Fiscal Health, that is what he is pushing congress on and the rise of the feds Balance Sheet at all, i wonder if american style capitalism is dead as we know it or is this a wakeup call . Joining me Kings College professor, Brian Brenberg. Brian, i keep hearing, and seeing, hard to argue this is old School Ronald reagan free markets or adam smiths ideas of what capitalism is. Is it so far gone that weve just entered this statism where its all about the Federal Reserve, the federal government and this is just where we are . Have we chosen this as a nation . Weve gotten the domination of the federal government. Weve gotten the domination of the fed but i dont think it means that old style capitalism, economic liberty is dead. In fact i think the interesting thing is that the coronavirus response, the lockdowns, the restrictions, the heavy interventions have actually left americans with a real awakened appreciation for capitalism. I think theyre looking at all of this, theyre looking, for instance at the ppp. I havent met a Small Business owner whoever wants to go through the process of applying for one of those loans again. It was a disaster. Now they needed that money. But theyre looking at that, saying that is the not economy i want. I want to go to work, i want to generate revenue by serving my customers. So i think people are actually looking at the alternative of a statedominated economy. Theyre saying, no thank you. I want more economic liberty. I want more of that capitalism. Charles right. That is an important turn, charles. You see it everywhere you look, especially in the Small Business community. Charles i agree with you, with respect from entrepreneurs and Small Businesses. I mean, this is what they have always done for our country, they have been the main job creators,man visionaries, the reason we lead so far ahead of the world. If you watch this testimony today, almost all the democrats were demanding greater intervention from the state, federal government. Greater intervention from the Federal Reserve and you just kind of get the sense it is going to be an election issue well be telling voters, hey, you have a Federal Reserve that can pay for everything, not have to worry about it. So why are we wasting our time trying to pull ourselves up by the bootstraps . Youre right, charles. This will be an election issue. Its a defining issue for america. Weve debated what does it look like for the direction of the a more state dominated economy . Were told politicians and bureaucrats pursue the common good, what weve seen capricious decision making, arbitrary decision making. Telling people their work is not essential. Looking at americans, were at a moment where were going to choose a path. Weve now seen the other path. It is not a theory anymore. The state dominated path is a reality. I dont think people like it. Charles right. It should be an election issue, not will it be but it must be. Charles real quick. We got word that senator roy blunt saying final stages of crafting the next coronavirus bill comes at end of july. If republicans are doing something, they are making a huge mistake waiting any longer for the data. The psychology of sitting on my in, you dont think anymore checks will come. They should articulate that the American Public will continuespend and the v keeps going. That are my thoughts. What are yours . Proworker policies. Money to help people come back to work. I want things like a payroll tax cut. I do not want to see more money for states. That is the question, the right policy can do good for the economy and yes, lets get that on the table. Lets make that the definition clear. Lets tell the American People what were willing to do, what republicans are willing to do, what theyre not willing to do. Lets not go down the same path were going down. We cant afford trillions that are not targeted towards getting people back on the job. Charles i love what you had to say, this must be an election issue. Not if it will be, it should be a central election issue. Brian, always appreciate it, thank you very much. Thank you. Charles of course, folks we are watching these markets as we try to finish what will be one of the best quarters in decades. Well try to finish it in the green. Plus companies, theyre piling on to that facebook ad boycott. Theyre protesting handling of hate speech, ostensibly what theyre protesting. Coming up i have a guest that explains that this corporate activism is unamerican and antithetical to the First Amendment. Well be right back. Yeah yyeah yeah hey, hey. Charles so its a big thing in wokeness in business right now. Social media platforms, weve seen businesses like ford, microsoft, almost all of them now doing it. Some would say under the guise of combating what they think is hate speech, but it also is increasing the diversity, at least what theyre saying but actually turns out maybe some of these corporations think is hate speech really isnt. Maybe theyre killing diversity of thought that they said they subscribe to in the first place. Joining me now consolation Research Founder ray wong. You know, ray, its, the issue here is that these large corporations, many of them with their own issues, you know, in terms of hiring practices, business practices, might have found it convenient scapegoat in saying im going to stay off facebook for a month or so. I think for the most part were missing the issue but i saw it what you tweeted yesterday, and you said it is plain unamerican. What is plain unamerican is the mob culture. What is First Amendment right, diversity of thought. We have cfos taking advantage of situation where cancel culture meeting Marketing Budgets going away, it is great time to go do this. That is kind of the problem, right . I mean so, it is really not going to have an effect. Lets get to the root cause of the problem which is really, you know, we have got to answer the question what is hate speech . Is that a social media platform or is that community . Is that media . How do we think about the due duopoly structure on digital ads. That will not put a dent in facebooks revenue. Charles get back whether you think facebook is a buy here. But i think it is important that we expand on that a little bit. Somewhere i read a facebook employee said they would delete anything positive trump or maga, because they felt that was hate speech. So who are these arbiters of what is hate and not hate . Sometimes it is not always clear when you start to nuance it . It is. It is hard to determine what is hate speech, what is not hate speech. Some things are very obvious. There are certain limitations to the First Amendment. You cant yell fire in a crowded theater but everything in between what makes it is gray. Because it is gray people try to figure out when we can actually apply different rules. You dont want to be that arbiter in between in most cases but because there are community, Community Guidelines you have to hire people with diversity of thought. What were losing in tolerance in america for different ideas. That is the part im afraid about. That is the part that is unamerican were not getting free speech rights. You also see a lot of people move on to other social networking platforms. Parler, for example, is 1. 5 million ads just recently. Charles yeah. Theyre benefiting big time. And i think twitter is a big loser there from a business perspective. I think you got to be careful. I have always said for years be careful when you join that crowd with the torches and the pitchforks because one day you may actually be in front of your own house. We saw that in minneapolis. Mayor, summer of love. Nothing wrong with what the folks are doing. Next thing theyre at her house. Pepsi better be careful, starbucks, all these Companies Better be careful that they go down the path of being arbiters of what is right and wrong in areas where it is clearly opinionated and not black and white. It is not black and white, charles. The part, people are excited. They want to get behind a good cause. In some of these cases they are great causes to do. Resolving underlying issues will be helpful going forward. Cancel culture is a great way of freedom expression, when it becomes mob mentality, that is when we have some issues. Charles ray, i know you like facebook as a buy. We run out of time. It showed a lot of resolve last two trading session. Youre probably on to something. Appreciate your wisdom, my friends. By the way, folks, next thursday neil cavuto host a viral town hall, america together, working together, it is an open house. He will be joined by real estate icon, barbara corcoran. Your questions will be answered. As america is undergoing a rapid and transition here. Message fox business on facebook, instagram, email us at invested in you at foxbusiness. Com. We want you to be a big part of that show which is going to be huge. Just as you got to the point, folks where youre beatings them in madden football, could your child and grandchild out play you in the market . Look at new trend among young people picking up on investing is next. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. 49i found you good job. Now im gonna stay here and you go hide. Watch your favorites from anywhere in the house with the Xfinity Stream app. Free with your xfinity service. Now any room can be a tv room. Stream live tv, on demand shows and movies even your dvr recordings. Download the Xfinity Stream app today to stream the entertainment you love. Xfinity. The future of awesome. Charles folks millenials are taking up trading and day trading during the pandemic. Theyre doing a great job so far. Theyre doing it by ignoring lead of elder statesmen like warren buffett. Gerri willis has more on this amazing new trend. Gerri . Reporter thats right, charles. The Youth Movement has come to stocks. Think genz, millenial. Theyre putting down the videogame controller, and opening brokerage accounts, changing the name of investing. Listen. Im currently 16 years old. I started when i was 15 last year. My portfolio has done pretty well. I have had my good share of losses but i managed to make, considerable gains i would say. Just, up until this coronavirus virus. Reporter as he said, matthew is just 16 but one former Goldman Sachs partner recently tweeted that his 10yearold couldnt find anybody to play fortnite with because theyre guess what, trading stocks. Brokerages are benefiting robin hood which inspired main line brokerages to go commissionfree. Added more than 3 million accounts in 2020. It has a total of 13 million accounts. The median age of account holders at robin hood . Just 31. Why the interests. Professional sports are on hold because of covid19. The markets incredible volatility is the best show in town. The movement has its own unofficial spokesperson, david portnoy, the founder of barstool sports, an avid daytrader regularly tweets about his returns are beating wall street suits. Two things make it more successful for young people. Listen. First we cut commissions to zero. Then we went to fractional shares. So you dont even have to buy one share. You can buy, you like amazon at 2700. Dont worry, by 1 10 of a share, 270 bucks. You dont have to Pay Commission to pie it. So the friction to get in gone essentially to zero for a lot of these players. Reporter and the new traders, well they dont listen to long time gurus like warren buffett. When buffett threw in the towel on airline stocks, these folks ponied up and bought them. Charles. Charles all right. Gerri. Tell you what. They came back strong from their lows. So did the cruise lines. Theyre down big for the year. If you bought them at the low, you outperformed most professionals. Great stuff, gerri. Market son the quiet side. As we final trading hour, it will be really be the best quarter in decades. Companies are looking to augment or expand their business as the world evolves spawned a new wave of acquisitions. Well have look at mergers and Investment Opportunities for you to keep up with those mill lineals. Well be right back did you know that americans that bought gold in 2005 quadrupled their money by 2012 . And even now, many experts predict the next gold rush is just beginning. So call us money reserve, the only Precious MetalsOrganization Led by a former director of the United States mint. As one of the largest us gold coin distributors in the country, us money reserve has proudly served hundreds of thousands of clients worldwide. There may have never been a better time to start diversifying your assets with physical gold and silver. And right now its easy to get started. Pick up the phone right now. Call to receive the complete guide to protecting your hardearned assets. 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And call to receive the complete guide to buying gold, which will provide you important, neverseenbefore facts and information you should know about making gold, silver and platinum purchases. Pick up the phone and call americas gold authority, us money reserve. With nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, us money reserve is one of the most dependable gold distributors in america. Charles mergers and acquisitions on the rise every day. It seems we are hearing about a big company thats looking to expand or create a new revenue stream. Jackie deangelis has breaking news on postmates. The company says they intend to file an ipo within days but theres more to the story. J jackie . Jackie the company didnt say it. Actually, the companies are not saying anything right now. I just spoke to a source with knowledge of the matter. They say while postmates is fielding offers including the reported offer from uber, it does have every intention to file its s1 within days. Thats the document you file when you want to get the ipo process started. Jpmorgan, bank of america, they will indeed be the book runners, i am told. Now, ubers offer valued at 2. 6 billion, according to the wall street journal. Postmates of course offers local delivery of food and other goods because of ubers push with uber eats, you can see how this would definitely generate some interest and make sense but postmates, sounds like at this point, again, according to the source, plans to go forward with the ipo. Meantime, its not the only interesting deal on the table right now. In unprecedented times, businesses are looking to diversify, increase their Revenue Streams and also increase their Customer Base so youve got a company like lululemon known for its yoga pants, they want to buy mirror, an athome fitness company. You stand in front of this big mirror and a Virtual Class takes place in front of you, a little like peloton but takes place on a mat. Finally theres amazon purchasing car designer zook who make autonomous driving vehicles. Details not confirmed but its estimated at 1. 2 billion and would put amazon into the ride hailing business and lets just say elon musks eyebrows a little raised by this. He happens to think jeff bezos is trying to copy him. Charles they say thats the greatest form of flattery. Jackie, thank you very much. I want to bring in bellpoint chief Market Strategist david nelson. You know, a lot is happening here and heres something thats intriguing. I find people say golly, i wish i had that stock when you hear the takeover and the company being acquired, the shares are up but whats been working really bigtime are the acquiring companies more often than not, those stocks are up, too, and they go on a nice long sixmonth, oneyear, multiyear rally. That being said, what are some of the big news items, some of the big deals you have seen that may be worth chasing . Jackie just talked about one right now. Lululemon. The fact the shares are up as much as they are is pretty telling at this point. Granted, theres no arbitrage opportunity, you cant buy with a private company but wall street is sending a clear message this is the right kind of acquisition. Its certainly a good fit. Im a lulu fan. During the pandemic i built my home gym like so many of you out there have done with rubber bands, peloton bikes and other things like that. This is a smart fit for lulu. I would expect they will benefit greatly not just today but from here on out. Charles yeah. I mean, thats so important, i think, for us to share with the audience who are looking to really become better investors. When you see the acquiring companys stock jump the way lulus stock jumped, wall street is saying it was a great business decision and they probably got the company cheap. I dont know why mirror decided not to go public and i bet you thats the discussion right now between uber and postmates. Postmates can go public, raise a lot of money, and uber will have to offer them a lot not to waste their time with an ipo. Thats happened with a lot of companies. If i think back many years ago to slack, when before they had even gone public, a lot of companies wanted to take them out and slack held out and has obviously done pretty well since then. Charles lets talk about this overall market we are going to end this quarter, one of the best quarters certainly in decades. Remarkable rebound, outperformed the overall majority of wall street. You remember back in late march, early april, i kept asking about the vshaped recovery, not just for the economy but the market. Almost every guest said its not going to happen. Its happened, but the big question is what happens from here. Where do we go from here . Whats going to help propel this market even further knowing that the economy cannot go back to 100 this year, but we could have a strong quarter, this quarter coming up, mnuchin says 17 third quarter, 9 fourth quarter, and that might be lowballing it. Look, right now, the numbers for the coming quarter right now, we will have the worst quarter obviously, q2, probably minus 30 but consensus right now is around plus 17 . Goldman is out with a number thats actually around 30 . I think the message from the market right now, the market understands that this is going to be stair stepping and there will be challenges along the way but its sending a message as america goes back to work and as the recovery starts to unfold, you will have to move down the valuation curve and even though im fully invested at all times, doesnt mean i look like today my portfolio like i did at the start of this pandemic. Charles whats the big change you made and what do you anticipate changing or you going to kind of listen to the market for that . Change has already happened. I have had to reduce or eliminate some of the large cap growth names. I love those names, you dont have to sell them all, but make some room for industrials, financials and other what i would call smart cyclicals out there. These are very Important Companies and i dont care whether you are buying stuff on amazon charles give me an example of one. I love what you are saying. Less than a minute. But a smart cyclical. What the heck is a smart cyclical . Sounds great. A smart cyclical, okay, is Something Like raytheon. A Defense Company but also tied to the aerospace industry. As boeing comes back and it eventually will, raytheon as a supplier will benefit and the last time i looked, every corner of the planet was a geopolitical hot spot. I dont think defense spending is going down any time soon. Charles the American Consumer, threequarters of the economy, anywhere from 69 to 75 , really has led the way in bringing this economy back. Are you confident the American Consumer is still going to be there for the second half . Anything special have to happen for consumer to continue to spend . The consumer will probably continue to spend. You are seeing it when i go to the store. You are obviously seeing it in amazon. Consumer spending, they are just spending differently and are frequently frequenting different places to buy those goods. My challenge for me is within that area is close proximity business. Thats going to be a challenge because even if you have a Business Model that can survive that, less customers during the course of a business day means less revenue. Charles real quick, 30 seconds, macys was talked up earlier today as a potential buyout by amazon. It sounds farfetched. Anything, though, thats in that kind of crazy category that you would take a flyer on and you think its just wise for investors to be smart and stay the course . It could happen. Amazon taking out macys or kohls or Something Like that. He a na a name like crowdstrike, still has a 21 billion market cap. Thats a company that could get taken out. Theres other names within technology out there. They are out there. Dont bet the ranch on them. Charles all right. All right. We wont bet the ranch. We always bet on you. David, thank you very much. Folks, we grudgingly have come up. Cheryl casone in for liz claman. You have a little momentum going into the last hour of trading. The opposite of the word is a little. Cheryl i still want to talk to you about peloton. You are not off the hook yet, okay . We will discuss tomorrow. Charles okay. Good. You got it. Cheryl all right. Charles, thank you very much. Well, here we go. The covid quarter is finally coming to a close this hour as markets do see green across the board on the final trading day of june and the final trading day of the second quarter. All we can say is goodbye. The dow is higher. We are up by 45 points right now. The nasdaq is up by 144. S p is up by 30. Youve got the dow and