Joe biden will unveil his economic plan and that looks awful like America First. That and so much more on making money. Charles stocks sinking after the Supreme Court rejects President Trumps bid to block a subpoena for his financial records and i think it is indictment by manhattan d. A. And wall street sensing their inability to keep the information secret. Perhaps, it wont be a oneday event. This whole market, this whole year has been a dickens tale of two cities. Instead it has been two stock markets, two equity at this indices. One weighed by the old economic names and Old Technology as well. The other one sprinting ahead on new economic names. These companies will form how we live and work in the future. General anxiety continues to hover over the market. Most involving the next round of stimulus. As we learned something in the last two sessions. Maybe the markets prefers stronger economy over more fed stimulus. Think about this, with an hour left to trade on tuesday, one of the most powerful folks at the fed, vice chairman clarida, he bragged about the unlimited buying power. Guess what, the market sold off into the close. Yesterday with an hour left in trading, james bullard, who doesnt have a vote on the fomc said the unemployment could drop to 7 this year. I think the market wants good news. Keith fitzgerald, and rebecca walser. Rebecca, start with you first, the Supreme Courts reaction, the stock Market Reaction to the Supreme Court today . It is uncertainty. Charles, we have uncertainty and sitting president , potential damaging records, im projecting that is what people might think they would be, market doesnt like uncertainty. We like certainty. It makes investors think maybe joe biden will be the president and i think his policies are disaster for our economy and disaster for the free market. Charles keith, i would say not only uncertainty but uncertainty disrupting the election. I think the market is saying they prefer a President Trump over a President Biden. I agree with you. The markets job is not to decide who is right or wrong. It is the markets job to decide who is profitable. Put that on the table now. To rebeccas point, uncertainty is the driver. Theyre getting cautious. Natural to take foot off the gas. It is natural with a changing narrative. Charles on the notion or taking or keeping your foot on the gas, keith, the notion that the stock market now needs good news, not stimulus to rally is what i took out of the last two sessions because when the fed, when the vice chairman of the fed says we have unlimited buying power, the market goes down, the next day another fed official says we just see the economy getting better, 7 unemployment, the market rallies, maybe it is time to root for good news . Im chuckling because i agree with you. This is the like the emperor has no clothes. Everybody knows that the fed ace train wreck. Everybody knows that you cant pay off this amount of debt forever. Theyre playing kick the can down the road. I think traders know it, investors know it. One of those things everybody went, more spending . Give me good news. Give me a ceo that knows what theyre doing. Give me a company that is growing. That is the real good news. That is what investors should focus on. Charles except more like one of those oil drums than a can anymore. Rebecca, comments on the psychology of the market right now. The market loves and embraces the fed doing so much buying but how important at this point we continue to see good news . Charles, we have that, we have. The market needs to recover. That will not happen. People bill get back to normal lives, as media is transparent what is going on with the virus. I have to say it is turned into a big political situation. We used to talk about this is what is actually happening and talk about case counts. I look at case counts, going up this is pretty much unstoppable thing at this point. Were looking at herd immunity only possibility getting back to normal. The second we realize that, get out to flying, going to restaurants, reopen, lets get it done. We need good economic news. The economy is ready for it f we get back to normalcy, the charles, the second we had great things boeing on, economy rebound the news tried to cave it. They changed how they count cases. This is so not great. We need to get back to what we do every day, which is go out and live our lives. Charles it is so hard to find out how many people have been discharged or recovered from it before. That was always part of the headlines. On that line of thinking, two intriguing stocks this morning, Carnival Cruise lines and six flags, right . The cruise operator says they will go back to sea august 5th. They have a voice out of hamburg a Amusement Park six flags up to a buy. This goes back to what youre saying. Ultimate sign, we as people, nation, over the hump when people really start to go out on cruise ships again . When we start to actually go to these Amusement Parks . Is that to me, charles . I thought that was to keith . Charles yes. Yeah. Charles, im ready. Ii want to take my kids i want to take my kids out. Lets go out. Charles hey, keith. Keith to me that is the ultimate sign. It is because to you and rebeccas point we got to live. I have lost an aunt to this. I lost two friends to this. It is very real to me and my family. You know what, that said, we still have to get out there. That is what society needs. That is it how humankind functions. Hope, aspiration and optimism are all aabout. To me you can be in to win, still do it cautiously and properly. I am excited im supposed to be on a cruise in november myself. So who knows. Charles wow. All right. I want to get a postcard. By the way to what rebecca was saying the Financial Media really hasnt hurt the rally but i think they stop ad lot of individual investors participating and that bothers me a lot. Keith, rebecca, great stuff. Appreciate it. Well talk to you both real soon. Meanwhile talk being about economic data, initial jobless claims dropping for the fourth consecutive week, 100,000 less than a week earlier. So far they come in well ahead of what the experts ahead. Certainly well ahead where we thought we would be months ago. With the stalled reopening plans. We keep hearing about more job cuts, there is anxiety about the overall recovery stalling. The question is there enough momentum to keep this v going . I want to bring in university of maryland economist, peter morici. Peter we confound the experts the economy has, but no doubt it is stalling right now. What needs to happen and can we still get a vshaped recovery . Oh, i think were not stalling. I think were moving up. We have to accept that in a situation like this, after we had a dramatic shutdown it will not all be smooth. Certainly people are going back to work. So we got more jobless claims. We know some industries are going to shrink because they will not be as act sieve as before but people will do other things. Its a matter of transitioning to the postcoronavirus economy. We essentially accelerate ad lot of the changes that were going to take place any anyway. Automation in meatpacking, more zooming and peach watching movies like hamilton at home. Charles great point. When we hear United Airlines may lay off over 30,000, american will lay off 20,000, that are big numbers, will impact lives and people. Will those offset itself and specific industries and not necessarily reflective of other opportunities . Well there are specific industries that are going to shrink. Lets face it were a lot of Industries Customers were not treated as well as they could be. Now technological opportunities made it possible for people to use less of what those industries provide but that Technology Costs money f you go to use microsofts meeting apparatus to do tv shows, ive been using some Great Software that has been provided me by the bbc to do my biweekly broadcast. That costs money and it replaces, for example, getting in a limousine. Thats okay. Jobs go away in one place, they reappear in another. People dont stand behind mules and plows anymore, do they . Just this accelerated things. So two, three years, from now, we wont know this happened. I will point out to you, two years after the spanish flu, we didnt know it happened. Two years after the influenza epidemic of 1957, we didnt know it happened. Charles but we know that the economies took off. We had the roaring 20s right after the spanish flu. Less than a minute to go. What do you want to see from congress . I feel like theyre playing a real serious game of chicken here. I feel like Steve Mnuchin and President Trump are trying to get ahead of it but what would you like to see in the next round of stimulus . I would like to see assistance to state and local governments, not a trillion dollars. 500 billion like the governors asked for. General us unemployment benefits. Generous payments to families. Let them go buy stuff, let them decide where the money should go. Dont prop up the airlines. We propped themp through september. Now they announced lay offs in october. We cant prop up old industry. Give people money to spend. Those people unemployed, help them transition. Charles agree one thousand . Peter, thank you very much. Folks, Supreme Court big news today, delivering President Trump a split decision this morning. So what is the mood in the white house right now . We have the president s attorney jenna ellis. She will weigh in next. Also joe biden releasing his economic plan but a whole lot of the details seem like theyre taking a page from President Trumps America First playbook. Well break it all down for you. Well be right back. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles well it is good news, bad news situation for President Trump at the Supreme Court today. The justices ruling that congress cannot have access to his financial records, yet returning the case to a lower court with no prospects for anything happening well after the election. Then, that was a 72 decision. The court did uphold the prosecutors, man half tan prosecutors demands for President Trumps tax returns as part of a criminal investigation. For his part President Trump using a very familiar phrase today. He is talking again, he tweeted out, a political witchhunt. I will bring in his attorney, jenna ellis to join us now. Jenna, i guess a split decision of sorts. I thought 72 was intriguing for the manhattan d. A. The market sold off because they dont think the information which is only for the eyes of the grand jury will probably stay secret. What are your thoughts . Yeah. This is just a delayed victory for the president , charles. So i mean the president is completely right this is a political witchhunt and thats true for congress trying to get ahold of his tax returns. That is true for the manhattan attorney there. So you know, we all know if anyone gets his tax returns of course they are going to be leaked. In response it was interesting that congress didnt, the democrats in congress didnt have any response talking about legislative purpose or anything theyre going to do other than attacking President Trump. The same thing there in manhattan. We know it is just plainly obvious for all of us to see this is just a politically motivated targeting of President Trump and these two cases, are just delayed victory. He will continue to fight for his constitutionally protected right to be free from politicallymotivated attack. Charles now, some of his tweets though, after the, after the news, he seemed pretty upset. Again to your point, obviously, you know, saying it is a witchhunt. It is purposeful. We have a lot going on in this country in addition to the reelection, how we continue to fight covid19. Will this interfere with that at all . Will he still be able to do some things with congress between now and november . Because the country still need another boost. Right. We can hope so. I mean the democrats are just trying to obstruct and they have been, they have been targeting President Trump and becoming the party of just we hate trump. That is all that theyre doing, rather than collaborating with this president , passing legislation that can be helpful to the American People this is just another thing, now were having to talk about on air, use media time to talk about all these things like the russian collusion hoax, impeachment hoax, all of these things designed to obstruct rather than focusing on the American People. So hopefully congress will actually consider that and return to it. President trump is very dedicated to fighting on behalf of the American People. Charles thought but yesterday, because i know this is something that you talked about a lot yesterday. The Supreme Court ruled in favor of employers who claim religious beliefs preventing them from offering things like Birth Control and other parts of that obamacare package in their health plans. Just your thoughts. This is a really to me seems like a great victory for religious freedom. It is. The court was correct in the Little Sisters of the poor case that the government cannot compel through a Health Care Mandate for employers to provide Services Like contraceptives against their sincerelyheld religious beliefs. Contrast that with the title vii decision where employers cant hold to religious believes in hiring decisions and freedom of association, that is conflicting message with the court, playing politics, rather than applying the First Amendment fairly and accurately. We have the right of freedom of speech, freedom of association, exercise of religion in employment context. Were hoping President Trump will get for more years, were confident in that, that well have conservative majority that will apply the the constitution as the nonpolitical branch it was intended to be. Charles there is lot of inkiss sys coming out of this inconsist sys coming out of this particular court. Jenna, we appreciate it very much. Well talk again real soon. Thanks, charles. Charles meanwhile, folks, joe biden is about to unveil his economic plan in the swing state of pennsylvania. Instead of channeling his inner, his new buddy Bernie Sanders, he is sounding a lot more like President Trump. Well give you those details. Plus are chinese investors betting right now on a hot win streak that biden will win . Well explain that as well. Well be right back ok . Thats 15 percent on top of what geico could already save you. So what are you waiting for . Dj khaled to be your motivational coach . Yo devin remember to brush in a circle motion. Thank you. Dj. Khaled. Tiny circles, devin. Do another one. Another one. Is this good . Put in that work, devin. Dont give up. Geico. Save an extra 15 when you switch by october 7th. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Leading armies to battle . , weve just been finding a way to keep on pushing. Was that your greataunt, keeping armies alive . Drafting the plans. Taking the pictures. Was it your family members . Who flew. Who fixed. Who fought. Who rose to the occasion. When the world needed them most. Find and honor your ancestors who servered in world war ii. Their stories live on at ancestry. Charles former Vice President now democratic president ial presumptive nominee for the democrats joe biden set to unveil an economic proposal today that will spend 700 billion, focusing on manufacturing, products, research, also sort of, i guess a challenge to President Trumps America First agenda. Hillary vaughn joins us with more details from the metal works facility in dunnmoor pennsylvania, where he is expected to speak. Hillary . Reporter biden will tee up his hire American Economic plan. This economic plan is following on the heels of the joint Task Force Proposal came out from from the Bernie Sanders and biden camps were really meant to embed Bernie Sanderss ideas into the biden agenda. It fell short many progressives were hoping for and what wall street was fearing. Green new deal and medicare for all were in the in the proposal. He said the end result were not what i or my supporters would have written alone the task force created a policy blueprint in the country in the muchneeded progressive direction. Today biden is moving in a different direction. The plan he will tee up today is american first approach to a moderate reboot of the u. S. Economy if he is in the white house. It sounds a lot like what President Trumps campaign talked about in 2016. Buy american, hire american, and build american. Bidens plan promises to do just that, investing 400 billion in his first term to federal purchases of u. S. Products including clean vehicles american steel, medical supplies and artificial intelligence. It includes a made in america tax credit to provide capital to small and mediumsized manufacturers. He wants to put 300 approximately 300 billion into clean vehicles and american steel. It would shut down companies that shut down here and ship jobs overseas. Biden is making a china crackdown key to the economic recovery in a postcovid19 world, saying trumps phase one deal has been so far empty and ineffective. Bidens policy would look a lot like what trump has been already trying to do over the past three years, calling china out for currency manipulation, pressuring allies to gang up on china, to stop them from abusing trade rules and threaten new sanctions against chinese firms that steal u. S. Technology by cuttings them off from u. S. Markets. So today were expecting to get more details while he makes remarks a few minutes from now. Charles . Charles all right. Thank you very much. Now for more on bidens economic proposals, lets bring in republican strategist, my old friend ford oconnell. Ford, how are you . Im doing great, my friend. Always good to be with you. Charles always good to see you too, my buddy. Listen, this is interesting because joe biden understanding to win a swing state he must focus on a America First approach without saying America First. Well you know, i just dont buy joe bidens policies here. Really when i look at joe biden is an empty suit and really trying to narrow the gap with President Trump on the economy when i look at joe biden, you realize he will be an unmitigated disaster. What President Trump has to do is drive home the contrast that joe biden is senile, chineseloving hypocrite and figurehead for the far left of his party around socialism. If donald trump does that he will make the case that he is better for the economy in rebuilding the country. To that point though, biden is really, he has got his work cut out for him. We just heard hillary saying that Bernie Sanders is somewhat disappointed. This 110page joint proposal, far short of what aoc wants, Bernie Sanders wants, what at least 45 of the Democratic Party wants. Feels like biden will campaign as up with person, as a president and then be different sort of president to your point, a far leftleaning president. So but he is not going to Campaign Like that. Well, thats the thing. There is a real chance here for President Trump to exploit the division in the Democratic Party because what youre seeing is, moderate democrats to the base, Bernie Sanders, aoc, they dont agree. If President Trump makes the case really joe biden is part of the base and a figurehead. That will drive home a lot of moderate democratic voters and independents in my home state of florida, pennsylvania, wisconsin and michigan who will decide this election. Frankly a lot of it should be playing biden in his own words especially what he says about china. China will not eat our lunch. Russia is the 21st century program. Charles i want to jump in real quick this is part of what youre saying because there is a Political Science professor, who by the way correctly predicted five of the last six elections going back to 96. He says President Trump has a 91 chance of winning, it is all about enthusiasm we saw in the primaries. Zero for biden. Tremendous amount for trump. Is this why President Trump continues to sort of makeovertures to his base, doesnt feel like he is trying to broaden out the campaign but he is going to his base over and over and over again . Is it about enthusiasm and turnout . It is absolutely all about enthusiasm, turnout. Look. The National Media has been greatly diminishing and exaggerating President Trumps impending political denies. He can win this election and he can win it very easily but the key here is going to be making sure you get those turnouts in those five or six states. This is a good sign. What scares me here, the National Media, social Media Companies and democrats are trying to demoralize Trump Supporters and people who want to vote for donald trump. It is flatout appalling. Charles these key states you mentioned something earlier about florida, pennsylvania. You think he has got, do you see signs, momentum that he can do this and how important is it that President Trump deliver one big sweeping stimulus package before the end of the month to kind of help seal that deal . Well i think he is absolutely going to do it. I think the key when you look across florida, pennsylvania, wisconsin, michigan, youre really looking at three groups. Youre looking at seniors. Youre looking at working class voters. And youre looking at conservative minorities. I do agree with you. I think we need to deliver another stimulus not just to keep hope and Consumer Confidence growth in jobs Going Forward but to make sure we dont have a future slowdown. I hope it is narrowly tailored we have to add to it we can. I have a feeling nancy pelosi and Chuck Schumer will stick a lot of things in there but it is about doing right for the American Worker around putting money in their pockets. Charles ford, very much appreciate it. Correlation is not necessary always causation, one interesting factor alongside this amazing chinese equity rally, i dont know if you see it going on a week or so, President Trumps reelection odds. We have a chart that plots the trends, election betting goods. Com. Biden chance of winning election in 2020. You see that has risen dramatically, so has the shanghai composite on a eightday winning streak. Are they piling into chinese equities because they see a Biden Victory . I want to speak to paul hickey. President trump is tough on china, there is a trade war and the tough rhetoric. Ford just mentioned on the other hand you heard biden say calming, more conciliatory things about china. Do you think their market is rallying on the idea there could be a President Biden . Well i mean i think if you look, biden came out with some pretty harsh comments towards china yesterday but it is all a matter of actions versus words and you know, you look over the last eight years he was Vice President , the tone toward china was a lot more conciliatory like you were saying, charles. I would say, i wouldnt say this is all a function, rally in chinese equities but it hasnt just been the last eight days. It has been about, been going on for a month now where weve seen as trump poll numbers gone down and bidens therefore gone up the chinese equity market has been doing better. That boosted emerging markets. China has 41 weight in emerging markets index. So i think that is definitely a factor at play here. Charles no doubt about it. Paul, i want to kind of switch gears. I got to tell you something, man, nobody weaves in history market like bespoke, your firm. I think you do amazing work. More importantly it is very effective. You can make money knowing what is happened in the past rather. Why is it so effective . Why does it work to have this sort of knowledge . Well, i think as mark twain said, history doesnt always repeat but it rhymes. The fact is that stock market is a function but human psychology in large part and human psychology doesnt change. Trends may move faster than they have in the past but overall idea of people investing or computers doing investing are programmed by people and we all have the same psychological factors. Interestingly enough, when you look at the historical trends of the market under different president s what you see, always hear republicans are better for the market. Historically that hasnt quite been the case. The average return on the dow annualized return of the dow under republicans from 1900 is 3. 9 . Democrats have been 6. 2 . So there is a difference there. On the opposite side of the coin. Six of the best seven president s for the stock market were all republicans. I think the key factor to take here though, we were spilling a lot of ink over, what party is in control. As far as, one person or a group of people in congress, arent as big as the u. S. Economy. The u. S. Economy will go the direction it wants to go despite or with the of washington. I dont want to put too much weight what happens in washington a function of what happens on the economy or the market. Charles well, paul, i will give you a homework assignment because i think it is more important to measure these president s and markets on the day after election, not inauguration day. The day after election. Were running out of time. Maybe youve done the work, maybe you have done everything under the sun. Lets talk about next time you are on. Paul, great stuff, might have friend. Thank you. Well talk, when you come back. That, i think really more important. In the meantime folks, beijing using its new security law to suppress free speech across the globe. It is an old cliche but this has been a stockpickers market. What should you be picking for the second half of the year . Get your pens ready and stay tuned. Well be right back get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. vo at whether on the track,that exhor the everyday drive. Ty, today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. We created massmutual healthbridge, a free Life Insurance program. Its specifically for healthcare workers battling covid19. And its our way of showing thanks. Charles breaking news for you, folks, President Trumps former Attorney Michael Cohen has been taken back into federal custody after allegedly violating terms of his release from prison. Cohen was let out of jail due to the coronavirus risk. He was seen in photos by the New York Post at a manhattan restaurant last night. And brought to a federal prison in brooklyn according to his lawyer. Meanwhile china, we know that they have got this new security law in hong kong but many are now questioning whether they will use it to police the entire world. Wall street Journal Editorial Board in fact points out beijing using its Police Critics outside of its borders. They pressured zoom to suspend activities of activists in hong kong and United States who discussed tianamen square. Joining me from the wall street Journal Editorial Board, opinion writer gillian melcher. You warned about this for a long time. The question what can be done to stop it . Is anyone trying to stop it . Its a really disturbing development. You have this National Security legislation and theyre claiming something thats just jaw dropping from a legal point of view. Theyre saying this applies not just to hong kong but to anyone anywhere in the world. Theyre claiming extra territorial jurisdiction and theyre saying they can order social Media Companies to take down posts that they think offends National Security. They are saying that they can order messaging apps like telegram to hand over actual messages and help them unencrypt them. Basically hand over the content. It is kind of a comprehensive effort to Police Speech, not just in hong kong, not just in main land china but around the globe. You will see a lot of these companies, facebook, whatsapp, twitter, google, taking a step back saying they will pause these requests but really think it is important americans understand what beijing is claiming authority to do here. Its shocking. Charles well, pausing and saying were just not ever going to comply are two different things. Technology is the one area that really grappled how much to work with china. Weve Seen Technology companies bristle helping american Law Enforcement but more than happy to do business in china. So they have got tom serious sole searching and decisions to make then. Yeah. It was encouraged to see they paused it. I would like to see a more permanent commitment. I think American Consumers need to put pressure on them. This is a regime that throws its own people in concentration camps, forced abortions, organ harvesting. Commits some of the most egregious Human Rights Violations in the world. Now it is claiming rights to Police Speech even in the United States. So consumers need to be very vigilant in this threat and push back. Charles we certainly will. Jillian, thank you very much. Always appreciate you particularly on this particular story. Thank you. President trump is hosting a roundtable with hispanic leaders right now. We have a inside look at his new executive order to bring prosperity to thats next just because of an accident. Cut is that good . No you were talking about allstate and. I just. When i. Accident forgiveness from allstate. Click or call for a quote today. Charles President Trump talking withs hispanic leaders at a roundtable right now. He is also set to sign an executive order called the hispanic prosperity initiative, cultural intel ceo lily veltta. Is here. Tell us all about it. Were in anticipation of what the president will announce, charles, will definitely be focused on jobs, education, and advancing hispanic prosperity which ultimately is american prosperity. Im looking forward to the event and to see what details the president will reveal in a few minutes. Charles what do you want to see . You always talk about the hardworking nature of hispanicamericans, entrepreneurial nature, those are the things that get a lift from President Trumps policies, fewer regulations, lower taxes and probusiness policies that encourage Small Business owners . Absolutely. You know, as a latina Business Owner myself i can tell you that the growth rate of our businesses is tremendous and we need anything that emphasizes growth, access to capital. How we will stay afloat in a postcovid here a and how we help our young people get the skills in the future of our Economic Prosperity and workforce. Already we have a majority minority nation at the key population level, charles. So hispanic education, for example, its key for us to have a solid pipeline into the long haul. So i am looking forward to it. You know the numbers are powerful and were here to represent and see what we will have as new policies or incentives. Charles the numbers are extraordinarily powerful and overlooked i think by the media, maybe taken for granted by democrats. The competing messages here. Pull yourself up by the bootstraps or youre in a nation that doesnt like you and well do things like you, school lunch, higher minimum wage. Which run really resonates, particularly to your point with younger hispanics i think want to be Business Owners and see themselves going as far as the sky is the limit . Exactly. You know, we are living the american dream. You know my story, charles. I came here with a suitcase without speaking a word of english, and now i own a business. This is a business we want to live. Were 60 hispanics in this country and 80 citizens and 65 born in the United States. It is a mistake to say that were moved to rhetoric that aligns to immigration items. Were moved by the jobs, economy, anything that allow us to live out this american dream. Charles lili, i let you go inside. Thanks for taking time to talk to us on this great day. Well talk to you very soon. Thank you, charles. Charles it is surprising President Trump has not tweeted about this, folks. I dont know if you heard this, ford ceo, jim hackett, he is forced to defend a law, the fact that Law Enforcement is using their Police Vehicles, specifically the the inseparate tore vehicle. From the employees in the Country Demand that ford stop making police cars completely. I have want to bring in cheryl casone. This is a amazing story. Reporter you mentioned the interceptor that is in the video of george floyd ears. Ceo supports black lives matter and he understands the employees concerns and grieve vanses. He grievances. He said he would not stop making the vehicles. He is making 30,000 of them a year. 2 3 of the Police Vehicles come from ford. While he listened to his employees he pushed back, i just dont think this is the right move now. I will say trek, they make the bikes, the police bikes, they had a similar situation a few years ago as well. Charles what do you make of it, cheryl . Then youve got facebook has internal eruption, trying to force the ceos hand . Ford the same thing. A lot of ceos are blinking and i think theyre making some poor business decisions. Reporter i agree with you, actually. The difficult thing for companies whether they wade into politics or social awareness or social justice in this instance, unless that company is really already had that mission in place, it looks a little frankly hypocritical when you see these companies all of sudden go, well do this, well do that. Why werent you doing that a year ago and five years ago . I think messaging sometimes can be lost for the big corporations. They need to watch it. Charles all right. Cheryl, thank you very much much. Talk to you again soon. Meanwhile folks the markets are a little bit lower today which means, a buying opportunity. Think about this, the nasdaq has been outperforming the dow and s p. We all know that, but did you know that not every stock on the nasdaq is a winner . In fact for everyone winner on the nasdaq you have got two losers. A lot of money being made in a select few stocks. Which ones will outperform in the second half . Well be right back to tell you. Ive always been fascinated by about whats next. And still going for my best. Even though i live with a higher risk of stroke due to afib. Not caused by a heart valve problem. So if theres a better treatment than warfarin, i want that too. Eliquis. Eliquis is proven to reduce stroke risk better than warfarin. Plus has significantly less major bleeding than warfarin. Eliquis is fdaapproved and has both. Whats next . Reeling in a nice one. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Ask your doctor about eliquis. And if your ability to afford. Your medication has changed, we want to help. Charles folks, with an hour to go in todays session i want to focus on individual stock picking. While much has been made about the nasdaq composite outperforming the dow and s p, even within that index its been all about individual stocks. Case in point, for the nasdaq there have been 377 winners, up an average of 52 . The top 20 winners up 358 on average. But there have been 611 losers, down an average of 29 . So this year, more than any that i can remember, you can certainly have made a fortune but it means you have got to have been in the right names. Think this trend will continue . The question now is whether the right names for the second half of the year. I want to bring in pointview Wealth Management david dietze. One of the things i want to do this segment, you are really great at pinpointing individual names. The theme obviously has been tech, software, you know, names that are changing the landscape for the next few years. Is that where we stay or does it shift a little bit . Well, so as much as the tragedy as we have seen with coronavirus, the fact of the matter is this is giving longterm investors a great gift. What we are looking for now is not what happened in the last quarter, but whats likely to go out ahead. We are looking for the leaders in respected industries which have been hit hard by the coronavirus but each day that goes past, we are getting closer the to a vaccine, close to better therapeutics, people are learning to deal with it and these are the leaders in these Respective Industries i think will rebound here. Those are the ones we are looking for right now. Charles i will ask you about some names in a moment. But about three weeks ago, four weeks ago, it felt like we were finally seeing rotation. Value over growth. That fizzled out quickly. A lot of these value names, particularly financials, energy, look like duds. In fact, they have become unmitigated disasters. Do you play the guessing game of getting in front of those names or to your point, do you find the winners and some of these names that are not necessarily down, not necessarily up . So we know those sectors are going to come back so you can play the leaders there, jpmorgans which we own in financials, schlumberger. What happened in the last month, we got our hopes up there would be a very smooth reopening. Unfortunately, some people misbehaved, there has been a resurgence in cases. Thats caused people to take another look. Working against that, of course, is a couple times a week we are seeing now announcements in terms of potential vaccines coming down the road and the pressure is building on another huge fiscal stimulus package from congress. Those are the two things i think you bridge this gap. Of course those areas will eventually go well. I was just reading reports today that said we could be running out of energy in terms of fossil fuels by the end of the next decade if theres no more reinvestment because people are sitting on their hands. We could see oil up to 150 a barrel. Charles give me a couple names. Disney is your quintessential Quality Company thats down 20 since february, 30 since november. Why . Because people are worried about the theme parks. There is only one part of the business. Content ultimately will drive entertainment. They have the best content. They bought more from fox. They are entering in a deal with amazon. The other one we like is darden restaurants. Charles lets leave it right there. Darden which by the way, has been acting really great over the last year or so. They got a new ceo and disney. We got you on record. Hey, thank you very much. Now, i hand it over to the great liz claman. Liz, i think you had a little momentum in this last hour to the upside. Liz i think so, too. People who are just tuning in might say what planet is charles on, we are down 300 points but we had been down 500, so perhaps. We are looking for it. We are heading into a critical final hour of trade, everybody, because imminently, weve got dueling 2020 president ial economic events that are about to unfold that could move the markets. Democratic president ial candidate joe biden is in dunmore, pennsylvania about to unveil his economic recovery plan. We do know it begins with 700 billion in buy american and buy american innovation, with a
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