Districts that dont open schools. Well get reaction from mattie duppler. What about the another stimulus package . Where is the urgency . I will a a an bgs all that and so muchuc more morn akinmymomo. Wheelelelel are areni tng t s y nglihikenk tinhig,nking,ing, tnh iths wh iats ywhouat y couan. Snststste a of knowns and a lot of unknownnk to to consider at this men put into perspective. Rtic alert bear case, 20 decline from where we right now. S p, maybe to 2500. Base case, the s p earnings improve to the end of the year, maybe slightly higher than where we are. There is the bull case. 3500 in the s p. I want to bring in two women that really know. Experts. Market chief strategist, Kathleen Rooney vera. We have Francis Newton stacy. You know i love you guys. When i bring you on, that is six names that i have to contend with. Let me, start with you, francis, of these three potential scenarios which one makes the most sense to you . By the way how should we be invested in that particuarly scenario . The Defense Sector is the which is very odd. Market on uptick in cases, we still have a lag in deaths. That remains to be seen how that plays out. Earnings kicking off next week. So much is priced into the market. It will be interesting to see if there are surprises. In the short term im watching 3125 on the s p. If we get downward momentum, well get a selloff. I expect stocks to kind of chill the rest of the summer. I see real risks ahead when the airlines are able to lay people off by the end of september and when those loans come out of forbearance at the end of the october. If we lose the extra 600 a week, it will be interesting to see how many loans go into forbearance. We have 100 million in loans in forbearance. We have no idea what the damage will be. Charles sounds like youre on the bear side. Katherine . I couldnt agree more with a lot of what francis said. I will add one thing, if we get a surprise, we have 10 trillion in surge in equities all based on earnings that no one knows what theyre going to look like. So i think the markets are certainly discounting the best. That is why were recommending, charles, a barbell strategy which you want to place yourself in defensive and undervalued sectors. Defensive, i couldnt agree more with francis. Technology is incredible. It is such an incredible sector, charles, structurally it has become defensive. Look at vacillations in the market since covid erupted, technology is up during both and down names. That tells us it is defensive while at the same time being a growth sector. You want to be on undervalued side. In the barbell approach, charles, you want to be in banks. Charles wow, that is an intriguing thing. Along that line of thinking, one thing seems certain right now the old school hedging has really been a disaster. Consider this is the year hedge funds should have outperformed the market. A lot of people have been trying to mimic that, a lot of individual investors. Obviously the pros cant make it work then what should they be considering. Kathryn likes barbell approach. Francis is there a general approach for investors to look at this market, because hedging, being short and long at the same time has been unmitigated disaster for most . Yes. So it is very interesting. If we see a little bit of an uptick in inflation, a very tiny one, you will have a stagflation nary play which is usually utilities, reits those kinds of things. However utilities under pressure today given that, you know, the economy not really necessarily on the direction to open up strongly as we thought, were not sure. Viruses are up. Tech is playing a the defensive role at this moment in time. The minute we start seeing cases decline or something go right i think well see a small uptick in inflation, that is utilities, reits, things like that. We could have another deflationary risk which is another massive selloff. You have got treasurys, gold, all quintessential, u. S. Dollar but i think that probably well not see until we see credit risk at the end of october. Charles both of you ladies sound pessimistic. I got to tell you it is interesting, Financial Media narrative all year long has been hoard of millenial traders goosed the market up on unbright delled optimism. When you look the evidence is not there the vix well above the normal levels, the fear index. I know the most recent American Association of individual investors optimism poll was extremely bearish. Kathryn, i thought that was typically good for the market when most folks were bearish or feeling like something bad was going to happen . Lets make it simple, charles. It is difficult to say that but lets try to make it simple. The u. S. Economy is based on consumption. 3 4 of aggregate demand comes from consumption. Domestic demand incorporates consumption which is spending and private investment. So if you get a trend pickup in Consumer Confidence, weve seen very good data, spectacular data for two consecutive month from the consumer Conference Board of Consumer Confidence and current assessments as well as from michigan. If that continues i think this market, 45 surge has been validated. If it retraces, then we should expect this vshaped recovery both economic and market to become a w. Charles all right. A lot of unknowns out there. Kathryn rooney vera, Francis Newton stacy, thank you very much. President trump discussing how to safely reopen our schools for the fall today but he is also pressuring governors, in fact he tweeted earlier today, in germany, denmark, norway, sweden, other countries, schools are opening no problem. The dems would think it would be bad for them politically if schools opened before the november elections but it is important for the children and families. May cut off funding if not open. If the gop wants to open schools, you know states will demand more funding from congress, someone has to blink. I want to bring in National Taxpayers union ceo, mattie duppler. I know where the president is coming from. I agree with him. I dont think this is a time cutting off funding. The big fight between now and july 30 fir, how much going into the states ostensibly for things like School Reopenings . You know the one point i think of bipartisan consensus right now we need schools open. We need schools open because it is important for kids socialization. Importantly it is also extremely important for economy so parents can go back to work. When it come to congress role, youre right, were at a little bit after stale mail. The end of july, when a lot of cares act funding mechanism start to run out. Importantly the expansion much unemployment insurance. That is deadline is july 31st. We see support lined up for business, like ppp loan, theyre start towing reach the end of their runway as well. If congress doesnt act, that will create a vacuum from the funding side but on the side. The president , cdc had done i think a very, very good job laying out a framework for how states can reopen. The question is whether or not whether states will follow the framework or have been following that framework and as a consequence of that, are the environments in the states safe enough to reopen the schools . These are Public Health questions that have economic consequences. Charles let me also for july 31st a big fight will be over unemployment, the extended unemployment insurance, particularly 600 bucks. One of my guests said if that doesnt happen, we could see mortgage defaults go through the roof. Then this week the Economic Policy institute says if that goes away, we could see millions of emunemployed. Your home state of wisconsin would see an extra 65,000 people unemployed is it real think that critical . I thought it was the exact opposite. The extra 600 bucks are keeping people on the sofa . It is interesting debate. Economists said extending 600 bucks could impact the recovery. If youre rational worker being paid more than to work, that is what you will do. The data from the department of labor indicates people are getting back to work. It is more of demand. Whether or not businesses can open and they have work to give to workers. At ntu we released a report supportive of efforts to bridge the gap. Chairman brady Ranking Member brady of the ways and means committee, and senator portman would bonus out workers as they try to get off of unemployment and back to work. Anything that creates certainty in the economy right now, is the most important component what congress can do to keep the recovery going. Charles well, to that point, mattie, early this morning, news out of the uk that they have now created a 9 billiondollar effort to retain workers and a specific effort to bring in young workers, folks under 25 years old. They will spend 9 billion pounds on that. That kind of gave our market something of a lift. The notion is that we should be doing Something Like that. Does that go against some traditional conservative financial orthodoxy that the government is getting in way too deep, paying people to take a job . Again, i think the important part here is that Congress Certainly has a role to play to provide certainty, not just to the markets but to businesses and families across this country, but that means what they pass should be targeted, timely, and should actually go to giving relief to those who need it. We have no way of knowing whether 24yearold worker in the uk needs support the most. We need systems in place that keep the social safety net robust enough so it helps those on the worst amount of luck in these kind of circumstances. So far congress acted to do that. Charles, as we talked about before, that july 31st deadline is where the rubber will hit the road. Youre seeing mortgage forbearance, rent payments, fiscal space given to families and individuals in near term when the coronavirus hit, those are starting to wear out as well. If congress doesnt act. We might be for a personal storm, income false and no social safety net as we continue to wade through the recovery and wade through the reopenings at the state level. Charles the clock is ticking. Mattie, always appreciate it. Thank you. Thanks, charles. Charles all right, folks, were staying on these reopening efforts as the biggest story right now. And were talking about the economy, stimulus, all of that stuff. Again you can hear the clock ticking. I want to ask congressman andy biggs if Congress Might actually fumble this golden opportunity . It is like a game of pacman, year after year gobbling up retailers. Guess what, one retailer turning the tables ready to gobble up amazon. Wait until you hear this story. 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. Dont put it off another day. 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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. Because now you can expewatch all your favorite hulu shows and movies on xfinity. Youre only a voice command away from Award Winning shows like the handmaids tale, to new hits like little fires everywhere. And fx originals you can only watch on hulu. Thats just the beginning of what you can experience with hulu on xfinity. Tv made simple, easy, awesome. Charles talks have not even officially begun over a Coronavirus Relief package and republicans and democrats are at an impasse. Edward lawrence live on what is holding up both sides this time. Reporter there is a lot to talk about. The administration is targeting a relief package of one trillion dollars or less, that is less than the House Republicans passed of 3 trillion. Senior Administration Official is concern in the white house the votes may not be there if the cares four act balloons in cost. Officials say some republican senators are balking at the amount of spending because the bill will come due at some point. Senior Administration Officials says the administration wants in the deal, payroll tax relief, direct payments to americans and targeted relief for the hardest hit sectors. Two mentioned to me, hotels and restaurants. Senior Administration Officials says relief could come in the form of tax credits for those sectors t could be a direct bail out with money left over in the paycheck protection program. Im told only red line what Senate Majority leader Mitch Mcconnell wants, limited Liability Protection for businesses reopening. He wants retroactive back to december of 2019. Discussion is going on several weeks between the administration and members of congress about the next stimulus package but the negotiations dont start until july 20th, when the senate comes back in session. Charles . Charles edward, thank you very much. On that i want to bring in arizona congressman, republican congressman andy biggs. Congressman, thanks for joining us. I think you guys are playing it close to the vest. It will be a short window to hash all of this out. Despite the fact weve come back much better and stronger than anyone anticipated there is certainly no argument parts of this economy certainly need help. Youre right, charles, and we have a short runaway, thats for sure and i will just tell you that some of the things being offered dont take into account the long term ramifications. So you can throw another trillion dollars at it. But you have a 5 trilliondollar structural deficit for this year. You ratchet that up, that is a huge wealth transfer. Then at the same time i just talked to a Business Owner today who said they are down 45 in earnings, revenue, but theyre coming back but they cant get their employees to come back because theyre getting the 600dollar federal bonus for unemployment. That is not the first time ive heard that. We have to be very careful, on the steps that were going to put into a relief package. Charles so owed wardlaw recognize talked about Something Special for hotels and restaurants. This morning in the uk they cut their vat tax on hospitality by 5 , which i find to be fascinating. Anywhere around the world when they want to goose an economy in the emergency, they know the first thing you do is cut taxes. They cut the vat tax to help out there. What are we going to do . That is certainly an area where you can seem to find bipartisan agreement . You would think so but im not sure you get it. I think the payroll tax reduction the president is talking about is immediately stimulative. That would include the area that is there but i will tell you as long as you have people that are scared to death, putting hysteria and panic about going anywhere you will have trouble with those sectors. You know, lodging and restaurants. Charles lets talk about this for a moment because i know youre meeting with the cdc. You dont agree with their school guidelines. What are they getting wrong . You know i think the schools should open up and i think, that the local jurisdictions should be working on that. I think governors should be working on that. Im not sure necessarily what they get right or what they get wrong but i can tell you this, the guidelines they have in place, that they talked about are so onerous, think about it. A lot of students end up on buses in arizona. You cant even get enough buses to transport by the cdc guidelines, sticking one kid on a row, two kids on every other row type of thing. You just cant do that to make that happen. So you need to get schools back open and those cdc guidelines are pretty owner russ and probably cant be complied with. You need local jurisdictions to weigh in with the local Health Officials to design a program that can work and protect the kids and those teaching the kids. Charles right. That makes sense. This whole thing has been an exercise in federalism, right . The responsibilities at local levels. Right. Charles but that being said, how is your state . How is arizona doing right now with the new cases, hospitalizations, deaths . How are you feeling about this right now . Well, i think we should stay open. I mean we have more cases, thats for sure but our hospitalization rate decreased by well over 100 in the last 30 days. The same with the fatality rate decreased by 135 over the last 30 days. We still have bed space, thats available. The icus, just the data, if we were to get granular on this, you would say, were in december shape. We can go forward. Instead we have some of our elected officials are shutting down businesses and that is just going to exacerbate around prolong this in my opinion. Charles im seeing some mayors in your state really sounding pretty hysterical right now. So im trying to square that with the data youre telling me. Hey, congressman, i want to shift gears a little bit, you remember, not that you were there, very famous, 1956, Nikita Khrushchev of soviet union. We will take america without firing a shot. We wilbury them from within. I think about what that what china is doing now. They infiltrated america, with tiktok. They manipulated data. Fbi head said were in the midst of the greatest financial heist in history yet were kind of whistling past the graveyard. What is Congress Going to do about this . Congress has to step up its game and maybe put proscriptions on Chinese Companies like tiktok. There are accumulating data. Manipulating data. Doj is investigating them. That will take a long time. We have to look really how we can proscribe tiktok and others of these Chinese Companies, they have been stealing our intellectual property. They have been manipulating currency. They have been basically hijacking our economy to some extent. We gave them so much. We built their blue water navy, advanced rocket telemetry, we gave them. We allowed them to skip generations. When you give me the Nikita Khrushchev statement from 56, hes right except the soviet union was unable to execute. China was actually executing. We have to protect our elections because of china. Charles they are. They have permeated every aspect of our society. Theyre turning us into dependency on china. Charles well, i guess the good news is that the alarm, more people hear the alarm. Now the question how quickly we take action. Congressman biggs, we cover a lot. Always appreciate your time. Thank you. Thank you, charles. Charles all right, folks. The battle over the future over retail really heating up now. Walmart is looking to take on amazon prime. We have the details. Why amazon should be worried and why walmart stock is looking a whole lot more attractive. It is presenting perhaps new investment opportunities. Well talk about it all, whether or not you should be buying next. Cool breeze from the air wind blows through my hair dont care if people see me dancing in my car i got you stuck on my mind and i feel so alive and fly and freely floating through the open sky and if it shines or rains oh i cant complain its still a Beautiful Day because i got love, got love got love, got love its a Beautiful Day got love, got love got love, got love can i be washed away [vocalizing] as long as i got love, its a Beautiful Day. Charles its the battle of the titans or maybe the titans and the gods from mount olympus. Talking walmart reportedly preparing for war against amazon, launching a new subscription service, walmart plus. Amazon is clearly the online winner, walmart has the physical dominance to play ball. Jeff flock with more details. Jeff . Reporter it is, i will tell you, this is one for the ages, charles, you know . Walmart says or amazon says you want to get in our space . Well get in your space. This is actually an Amazon Grocery store that is about to open fairly soon. You can see it is made out of bricks and mortar. That is where actually walmart is strong. Walmart says you want to get in our space, bricks and mortar . Well get into your space online with something called walmart plus. Suspiciously like amazon prime. That is 98 a month. That is cheaper than amazon prime. Get same day delivery of groceries or whatever else youre buying on walmart. Com. But something amazon prime cant give you, a discount on your gasoline. Walmart sells gasoline at its stores nationwide. Gives you heads up on deals you can get at walmart. Com. You said, it is a clash of the titans and both of them bring a lot to the table. For example, physical space. It was surprising to me, charles, to learn that amazon actually has 500 plus physical store locations around the country. Yeah, that sounds like a lot until you look how many walmart has. 4753 in the u. S. Alone. Walmart also has more employees, 2. 2 million, compared to a little less than a million for amazon, but, here is where amazon comes in. Online sales right now, the market, 39 of online sales handled by amazon right now. Walmart only about 5 . Theyre the top two online. Of course market cap, you know all about this, 1. 5 trillion amazons market cap. You know how many zeros are in a trillion . I counted them. There are 12. Walmart with only 356 billion in market cap. Boy, i remember when a million was a lot. Billion, trillion, gazillion. Charles. Charles hey, the thing is, there is going to be a donnybrook. They will have the fight for a long time but i think well benefit, jeff, the consumers. Reporter cheap prices. Cheap prices. Charles absolutely my friend, absolutely. So here is the big question, who will win this ecommerce clash . I think both companies can do very well. Nicole webb from Wealth Enhancement Group is here to help us out. Nicole, i put together a fiveyear chart. Over the last five years to jeff flocks point, amazon is up 600 . Walmart is up 70 but feels like it has gotten its act together. It is no longer in dispute whether or not it can compete with walmart, or can it beat amazon . My personal view, charles, im excited to hear the words coming out of my mouth, are we allowed to call walmart an underdog . Im pretty excited about the idea of a disruptter like amazon getting disrupted. I want to make some nfl analogies so i dont know i will get them right. I will go with, this is fun to watch play out. Im excited to see who wins this about the he battle war. Charles fool disclosure i put a strong buy on walmart earlier in the week on monday because it is breaking out and this news is going to help. I want to look in another area where there is struggle and maybe opportunity. This morning seaport securities upgrade ad whole bunch of banks, goldman sachs, jpmorgan. Overall, financials, nicole havent done well. How important is it that they somehow get involved if this rally is going to get over the humps weve been running into . People are putting too much effort trying to figure out exactly what it means that the banks havent performed well. I dont know exactly why the buys were put in place. I can tell you banking sector. Industries tracking big name banks, you rattled off, are down 35 yeartodate. When were looking at reeled tiff valuations in the market, i dont think big banks are going anywhere. They do a lot more than service their clients. We need to look what is relatively wellpriced, what is here to stay and where is your opportunity for investment. I would say my bet banks are going to stick around. Banks will continue to be solvent and strong in the u. S. And continue to be demand for the u. S. Dollar and a place to park it. So i think big banks have their days ahead. Im sorry. Charles all right. Sounds like pretty good risk reward there. Real quick, big news this morning, Mortgage Applications up to purchase a home, up 5 for the week, uproared 33 a year ago. Taylor morris, big homebuilder, Second Quarter closings up 24 . Housing is on fire. As consequence of the coronavirus only getting stronger s that a good area to look into . What is funny, charles, you and i were talking about the housing boom back in q1 earlier this year, here we are postcovid having the seam conversation equally energized. Ripple effect, bricks, stone, mortar, steel, everything that goes into peoples home. People feel good if they didnt lose their job during covid. They see they will be home more this will be here for a while. Interest rates at a alltime low. Its a great time to fill the american dream, move into the bigger home or move into the home of your future. I think well continue to see that for quite some time. I pay agree. Nicole, thank you very much. Appreciate it. Thank you. Charles the other side is living in these cities particularly like a city like new york where violence issues are spiking. The nypd is bracing for even more even as calls go out to defund their budget. Society has gotten the green light to selfdestruct. Fox news contributor Deneen Borelli will react to this shes next. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. To visit all the places we didnt know meant so much. S to get out and go again. But were all going at our own speed. 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Charles folks, people violence, i wont call it gun violence, people violence in new york city spiking significantly during the month of june compared to the same time last year. Nypd reporting 130 increase in the number of shooting incidents. It is not just new york. Violence, shootings in neighborhoods across the nation, chicago, philadelphia, atlanta, so is society beginning to crumble . I want to bring in Fox News ContributorDeneen Borelli. A lot of this was going on long before the cities getting to defund the police. There is Something Else happening here. It has triggered something ugly in our society. Youre absolutely right, charles. When you look at these cities, the big cities across the country, if you have problems in terms of failing public schools, you have high crime rate, you have gang activity, we have sanctuary cities that democrats support and back, this is a recipe for disaster. You mentioned all of these cities where crime is going up. When you look at the recent protests that have taken place where they have just gone off the charts, innocent people are getting harmed. Im still waiting to hear from more democrats to condemn the violent acts taking place across the country because innocent people are harmed and these cities are overwhelmingly run by democrats and have been for decades. Charles it has been for decades. It is never democrats, never progressive policies. Somehow if there is a republican in the white house it, falls at his foot. Tell you what is happening in new york as consequence of this backlash, this defund the police among other things, may 25th to july 3rd 306 retirements versus254 june 26th to july 9th, 126 officers filing to leave department. Up from 35 a year ago. No one wants to be a Police Officer in this sort of environment where everyone agrees there should be reforms but theyre being made public enemy number one. Youre right. It is horrible. Because overwhelming majority of our law enforcement, the men and women who risk their lives, not knowing that theyre going to return to their families at the end of the day, they are good, hardworking people. And unfortunately we have politicians and others who are demeaning Police Officers. They are, taking away what they need to do in terms of performing their jobs in new york city. We had bail reform. People are released immediately after they are arrested. A billion dollars of defunding. Police officers have a target on their backs now, charles. Charles yeah. The politicians are not backing them. Theyre not standing up for them. Criminals are emboldened. It is just reckless and dangerous whats going on now. Charles right. To that point, if Police Officers have a target on their back, that means we all do. Deneen, there was a man fatally shot in a driveby shooting in the bronx on sunday. He was holding the hands of his daughter, 7yearold daughter, had pigtails, crossing the street t was caught on video. This is a form of savagery. This goes beyond the defund the police. There is something about the depravity of life, and i just dont get it. That is what we should be trying to figure out, how do we solve that video . My wife says she wont ever go back to the bronx. She was born and raised there. I totally get it. I understand. My heart goes out to the poor child that had to witness this. She has to live with that for the rest of her life. People are thoughtless, heartless and cruel right now. Again they are emboldened to create all kinds of crime and havoc against innocent, lawabiding people. People dont even want to leave their home, charles, to go out, especially in the streets of new york. Then you have democrat mayor like bill de blasio, who thinks all is well and fine, is perfectly fine to defund our police department. It is a disgrace. Charles well you, weve heard the term no justice, no peace. There is another term, no peace, no prosperity. New york city were beginning to sink fast. Deneen, thank you very much. Thanks, charles. Charles well, folks, facebook flunking its own audit on civil rights and hate speech. The stock is showing tremendous resilience. The company says it will do better. Maybe demands of the boycott organizers are too much, over the top, i think. Gold, folks, have you seen gold . One of the best performing assets of the year. The question how far can it go . I will ask gary kaltbaum. The question is, bullion, coin, gold stocks . You will hear later in the hour. Also well be right back its pretty inspiring the way families redefined the word school this year. Its why, at xfinity, were committed to helping kids keep learning through the summer. And help College Students studying at home stay connected through our university program. Were providing affordable Internet Access to low income families through our internet essentials program. And this summer, xfinity is creating a Virtual Summer camp for kids at home all on xfinity x1. Were committed to helping all families stay connected. Learn more at xfinity. Com education. Charles a new civil rights audit commissioned and released by facebook itself, showing the tech giant failed to address issues of bigotry on its platform with Mark Zuckerberg is facing with a fast growing advertiser boycott. The meeting with the leaders yesterday, lets say it didnt go so well. Cheryl casone has more. Reporter certainly didnt, charles. They forced to Mark Zuckerberg to address the platform has on society. The group made specific recommendations to facebook. Establish and empower permanent civil rights infrastructure within the company. Have Third Party Independent audits of the company. Remove white supremacy, medical like that, antisemitism content and groups from the platform. Then able individuals to connect with a live facebook employee if theyre harassed on facebook or instagram. According to the groups leaders their meeting with zuckerberg and Sheryl Sandberg didnt go very well. They heard nothing in the meeting that facebook takes their complaints seriously. They got, quote, same old talking points. They went on to say, this isnt over. Civil rights audit commissioned by facebook, two year review by experts planned way before the george floyd protest. That external audit found the company failed to address issues of bigotry, hatred, manipulation own the platform. Their approach to civil rights is too reactive and piece peel. The office said facebook needs to hire its own incertainnal civil rights experts. They do not fact check politicians, with quote, less than five months before a president ial election it confounds the auditors why facebook failed to grasp the your again sy. Facebook coo Sheryl Sandberg said in an online post we made Real Progress over the years but this work is never finished we have a big responsibility facebook has to finding and removing hateful content. The back and forth, charles will likely continue. Back to you. Charles certainly will, cheryl, thank you very much. By the way, folks, tomorrow, 1 00 p. M. Eastern make sure you join neil cavuto. Weve been waiting for this one. Virtual town hall. America together, open house. Neils special guest for the entire hour will be real estate icon, Business Pioneer barbara corcoran. It is not too late. Send the questions we love to share them. Fox business, instagram, facebook, and email investedinyou foxbusiness. Com. It will be a great show. Stocks are sort of meandering. Nvidia is the most expense sieve Semiconductor Stock out there and what is going on . Well head into the final hour of trading. One stock shut down, it was up 67 . Cant wait to ask gary kaltbaum, what is the message there. Well be right back. Charles the markets certainly faring better today at this point than yesterday. The nasdaq hitting another record led by technology. The broad market, missing all week, even yesterday after the feds second in command says they could do a lot more and will, and they also added theres no limit to how many bonds they could buy. The markets still faded into the close so could it be at this point, the fed will actually have to do more and say less to get this market into high gear . Lets bring in gary kaltbaum, kaltbaum Capital Management president , fox business contributor. Gary, i love talking to you about the fed but i do think it was interesting when clarida yesterday made those comments. Normally that would have sent the market higher. I feel like ever since that last fomc meeting, wall street wants to see the fed take action, not talk about it anymore, although im not sure what they can do now. Look, the nasdaq skyrocketing so i think the market is reacting. Unfortunately, 75 of the market isnt working, led by the financials that if you just looked at them, you would think the market was dead money right now. So look, i think you just stay with the nasdaq. The fed will continue doing what theyre doing, i can promise you, any drop in the market they will print more money and eventually announce they are buying stocks. I think they have already telegraphed that. You know how much i love that move. But i think that will be an eventuality and we will deal with it when the time comes. Charles if they say we are buying stocks, you know, through etfs or whatever like the bank of japan, what did that mean . That would add, what, a few thousand points to the dow at least . Maybe. There is what i would call a point where of no return, where you are doing so much that the final move, the market starts storing it but leave no doubt, i would suspect it helps and every move, the fed, every move powell has made since christmas of 18 every time hes gone easier, the markets reacted well. I suspects that will happen. Again, im guaranteeing your viewers on the next good time down, they will enact Something Like that because you see what they are doing with bonds and even junk bonds, which basically amazes me. Charles gary, this session, nvidia became the most valuable Semiconductor Stock, its at 250 billion, intel at 246 billion. I talk about Software Stocks all the time that just go up big, almost every single day. This is not the old nasdaq of before, right. There are some legitimate new exciting names out there, even if you could argue they are overvalued but the risk isnt what we saw back in 2000, 2001. Look, theres a rhyme and a reason. Nvidias growth rate, both sales and earnings, are much stronger than intel at this juncture. And growing leaps and bounds. In the software space, there are dozens of names that have 100 sales growth rates and earnings that are pretty strong. Yeah, theres some that are still losing money but eventually should. Ive just got to tell you, its a sweet spot in the market right now and every time i think they will pull them back, they pull them back for two days and they ramp them again so until that dynamic changes, im staying with this area. Its really all about technology, internet, stayathome software and all that fun stuff here. The only thing i can say negative is they are due for another pullback here soon, but you see another day today where the dow is basically flat and the nasdaq is up strong again. Charles again. Let me ask you about gold. I think i saw somewhere you mentioned you like gold, maybe tweeted about it. It is absolutely on fire. Im beginning to think that the investment is based on supply and demand, right, not enough supply, growing demand, not necessarily about money printing. What would be the best way . People ask me about gold all the time. I like coins, i have some bars, a couple of bars, but theres some of these stocks are really starting to take off. If gold goes higher the best place to be is in these gold stocks. They will tend to move two and three times what gold does and some more. I buy the etf which is the gdx, which is the bigger names, gdxj, which is the junior gold miners. Both broke out of range in the last week or so. As long as they stay above range, we will stick with them. Look, with all the money printing, one plus one equals two, you think gold is going to go higher, notwithstanding pullback. Not a big amount, i think 10 to 15 of my assets are in it. So far, so good. Gary kaltbaum, thank you so much, my friend. We didnt even get to zimbabwe shutting down their stock market because of inflation. We will talk about it next time. Im going to hand it over to my friend, glad to see her. Liz, just for you, all three major indices higher as we go into the last hour of trading. Liz youre so sweet. Thank you. Good to see you, too, charles. Great to be back. So good to be back in the chair for all of you guys. Because wall street is exhibiting a bit of a split personality as we head into what could be a volatile final hour of trade. The power of key big tech and media stocks has the nasdaq nearing another record. Now, it needs to be up 89