Transcripts For FBC Making Money With Charles Payne 20240712

By 33 , meaning that the recover may still be far off. What does it mean for investors, businesses and families in this country . Ahead of blockbuster earnings for the Biggest Companies in the world. That is coming up after the bell. After the grilling of the bilge tech ceos we have preview of the tech names. As you can see on the screen, a lot green and more on making money. Cheryl it has been a really interesting session since news on gdp, initial jobless claims crossed tape before the bell. Stocks are mixed. Were off session lows. Were waiting on the four Big Technology companies to report their Quarterly Earnings after the bell. You had the ceos yesterday. Well get the numbers today. Those ceos testified, you saw it here on this program on capitol hill. It was a heated hearing. A lot of allegations were thrown out against the four top ceos. Well bring in susan li who has preview of earning and some of the fallout from yesterday. Susan there were no punches landed. It didnt further the case for antitrustor breaking up the companies but one headline that did come through from jeff bezos from amazon who couldnt definitely say they were stealing Third Party Data. Listen. What i can tell you is we have a policy against using seller specific data to aid our private label business but i cant guarranty you that that policy has never been violated. Reporter that is a practice that amazon has denied for years. Its a conflict of interest since amazon runs the marketplace, also a competitor and they make their own private label goods, selling Third Party Data to people that make those products is a nono. The main event will be later tonight with earnings rolling through. Americas Biggest Company apple will probably be the most important headliner. The biggest metric is iphone sales. Probably lower and less this year because of coronavirus than last year. They had a cheaper iphone for sale in india and china. Maybe that separate hadding sales. Are we watching more apple tv plus, buying more apple music . Store reopenings what is the update on that. And production numbers that will hope to give us an update when they plan to release the 5g phones later this year. The next headline from alphabet google. The will are they making any inroad catching up with amazon. Microsoft when it comes to that division. Look at amazon since we looked at jeff bezos. Amazon obviously costs will be important. How much are they using to ship one day. Aws, Amazon Web Services the main profit driver, marketplace sales and ad revenue. All of sudden amazon is a advertising driver. Ads are key for facebook, makes up 90 of all their steals. Hopefully well get update on user growth. 2. 6 billion on the world go on facebook platforms including instagrams. What about the advertiser boycotts. 1000 companies will pause advertising on facebook for the rest of the year. Do they have to guide lower for the rest of 2020. These are pretty important report cards. A lot of them were pushed back today because they were busy today, cheryl. Cheryl it will be a slew of numbers coming up after the bell. The stocks will be big movers after the bell and tomorrow. Susan li, thank you very much for the report. Well get the numbers after 4 00 p. M. Eastern time. It is not just about technology and news in that sector. The worst ever quarterly gdp which should say it was expected by the street came in before the bell this morning. Rising jobless claims we saw that number come in a little higher than expected. You get after all this, a tweet from President Trump, suggesting a possible delay of the election. I want to bring in now keith fitzgerald. Fitzgerald Group Financial principle. Keith i want to go back to the earnings, because investors are focusing on technology names. Technology sector is one of the things that has gotten the sector through the pandemic and market and problems weve had this year. What are your expectations after the bell today . My expectations are google and facebook will probably come after pressure because of advertisingrelated avenue. Apple looking for services. Microsoft will be knocking the ball out of the park for months, decades, even quarterlies to come. To me i think it will be a net win. The market is simply resetting itself ahead of that. Cheryl you mentioned this quickly, facebook, susan brought this up in her live report, one of the things that happened in facebook is a pause of major advertisers on the platform. Again, were monday morning quarterbacking but you know Mark Zuckerbergs performance has been kind of criticized after yesterday and his handling now of all of this. Do you think there will be tough questions for him on the call . Well, you know, it is interesting to me because when i watched the hearings yesterday one thing became abundantly clear, you saw the amateur hour, i will use that term not negatively but just way of comparison, the difference between tim cook presentation and Mark Zuckerberg presentation. One is extremely savvy, one is extremely experienced, one takes absolute responsibility for his company. One seemed to be out of place, out of source, out maneuvered i didnt like what i saw. Cheryl i think a lot of people would agree with that. In particular i found the exchange he had with the committee over the issue of instagram, a little worrisome if im a facebook investor, im not, but if i owned the stock, i would be concerned about the fact there will be scrutiny over the acquisition that happened in 2012 about instagram and the anticompetitive nature of that deal. Instagram has really blossomed and grown under Mark Zuckerberg. You also have the whats app platform. Something really grown and blossomed under facebook but that is a big piece of their business that could be challenged. I think it has grown in spite of Mark Zuckerberg. One of the things that will become clear creators dont necessarily make great managers and i think that having him front and center in the publics eye footage welldocumented will call into question maybe changing investment thesis associated with that stock. Cheryl yeah. Im glad you said it. I was thinking it. But i wasnt going to say it but you did. Talk about amazon really quickly. Aws, the services platform, that has been a key component of a lot of back bone operations of key corporations around the country. Due to the pandemic aws was a strong performer before the coronavirus pandemic t may be a blockbuster report from amazon . I think it probably is going to be. Again, aws, you have got microsoft, apple moving into that space, google moving into that space, it will not necessarily be one company from here on out but i do think to your point that will be a blockbuster number. Cheryl 38 of online shop something done on amazons platform. You call them a monopoly or not. That is up to but that is a pretty big chunk of consumer spending. Yeah. You know, again it is a big number. It is only going to get bigger. I think that is important for the investor. Cheryl well, well be getting all of numbers on all the Companies Just after 4 00 p. M. Eastern time. Well have everything on fox business for our viewers. We have full coverage. Keith fitzgerald, thank you very much. These are the names, apple, amazon, google, facebook, here we go after the bell with those numbers. Also happening today, very important, President Trump caused quite a commotion floating the idea of delaying the november election until it is safe for people to vote in person. His tweet casting a shadow over white house efforts to push forward on more economic stimulus as the enhanced unemployment benefit is set to expire tomorrow. Blake burman is live at the white house with the kerfuffle of the day. Blake. Reporter hi, there, cheryl. You remember joe biden was laughed off, completely laughed off by the Trump Campaign when he predicted this very moment would come. President trump took to twitter today, and openly suggested potentially delaying the president ial election in november. Here is the tweet. With universal mailin voting not absent tee voting which is good. 2020 will be the most inaccurate and fraudulent election in history. It will be a great embarassment to the usa. Delay the election, president says delay the election until people can properly, securely, safely vote he questions . We noted that the president of the United States does not have the ability to change the date of a president ial election. Elsewhere in washington there are still very real questions about how negotiators will come up with any sort of compromise on the next step relief measures for covid19 help. Federal Unemployment Benefits end tomorrow. Which is why the talk shifted to what a smaller, short term package might look like. The republican senator, ron johnson today, pitched this idea. 200dollar extension or 66 of lost wages. That is nonstarter for democrats and both sides right now are pointing the finger at each other. This effort appears to be an effort to provide republicans some political cover because they cant get their act together and force the country over these cliffs. They wont engage when the administration floats a narrower proposal. They basically wont engage, period. Reporter there is this idea from three republican senators as well, mitt romney, susan collins, martha mcsally. Theyre talking about 80 wage replacement for states or declining amount. 500 a week in august. 400 in september. 300 in october. Remember, cheryl, democrats want to extend the 600 federal unemployment through january, next year, for another six months or so. Republicans essentially are talking about winding it down. When one side has an extension. Another side talking about a wind down and president and his administration say they are open to some sort of a short term deal. You wonder where it heads next. Cheryl because time is running out ahead of the august recess. That is what well get into right now. Blake burman live at the white house. Blake, thank you so much. For reaction i want to bring in republican senator from indiana, Senate Budget Committee Member mike braun. Senator, good to have you here. Great to be on. Cheryl first off, give us the state of play this afternoon, what do you think about the negotiations with stimulus, the Senate Republican proposal . I cosponsored that bill with senator rons johnson, he, rick scott and i, three businessmen in the senate put that great proposal out there. Look at very simply. 90 of people are working. 4 is considered full employment. So you have got 6 out there still been dislocated by government. So something does need to be done. Democrats want to do this through the election, mostly the reason, to the end of the year. The think i hear most going back home to indiana, i cant get people back to work. In places where your economy was not shut down unduly, mostly red state, ironically, we need people to get back. You do not want to have perverse incentive of encouraging people to not come back to the jobs they had before. So there could be a vote yet today, possibly on something. Im not sure but that is where were going to come from. They want to i have got American Public another 3. 5 trillion in debt for a bunch of other extraneous stuff unrelated. You got to remember, the economy was the best that it had ever been. Ive been at it 37 years. The trump economy of lower regulations and tax reform they did in december of 2017 took us out of the bidenobama doldrums that we had before. Cheryl can you clarify. You said you are expecting there could be a vote today. On the house side or senate side . Because you have 3 trilliondollar House Democratic by you have the one trillion dollar, a lot of bills out there. We dont know for sure yet but something along the lines of what we put out there to where it would address unemployment only because part of this heavyhanded government approach to it in the first place, blanket shutdowns, one size fits all, thats hampered the economy more than what it should have. We also need to be safe about getting back to work. We all know that. The democrats i think are doing this mostly from a political point of view to make the election more difficult and to keep the memory of what we had as the best economy. I came from it. Most people, been here too long, really to know what a good economy is. We had precovid. We go back to whatever we had before trump, people will be hunkering. Down. Cheryl there is some concern i warrant to say among some of your fellow republican senators, i do want to ask you, because im sure youre asking discussions among them today, senator cruz called total price tag a mistake. Senator romney wants to start phase out the extra 600dollar a week unemployment benefit. Senator thune wants a separate bill where it is just weekly checks. Your reaction to that . The republican conference in general, i stated it on the floor today earlier, we do not want the federal government to try to replace the real productive economy and from what im seeing, other than the states, that took the wrong methodology on keeping the economic patient healthy, along with fighting the disease, tried to do a onesizefitsall approach, it will be rough on some much them states. The rest of the places need to get people back to work and not have an incentive to keep people on the sidelines through unemployment scheme that we should not have had a better one in place when we fixed the bill back in late march. Cheryl. I want to switch gears before i let you go, senator. Im curious what you think about the president s suggestion of delaying the election . So, President Trump has a way of communicating that might accentuate the point. I agree 100 , if you try to replace a system based upon technology and machines and early voting and all the different ways you can vote now, trying to do it through the mail . He is exactly right. Look at the places that have done that recently. Theyre still counting returns in some of the places. Imagine if you tried to scale that nationally . It would be a disaster. Stick with what we had before. Be safe about it. We can do that. Of. We can vote safely. Dont change the methodology. Cheryl youre more in favor of in person voting but still have an election in november . Definitely. Because i want, you can do it. Yes, you can do it. Cheryl senator, great to have you on the program, sir. Thank you very much for your time. Good luck in the negotiations. We are following these markets. Obviously the markets paid attention to the tweet from the president about the election. We do have a mixed market. Techheavy nasdaq has come back. These numbers were seeing are way off the session lows after the dizzying gdp report i brought to you on mornings with maria. What a number. Its a recordbreaker. Well look closely though at the fall out from that. What does all this mean for the Small Business owners out there . Unemployment bonuses, eviction protections all that set to expire tomorrow. Well talk about that, and as schools unveil the plans for the new year well take a look at technology that some of these schools are actually going to be implementing. And coming up next were going to the remember the larger than life herman cain, a good friend of this program and this network. He died today from the coronavirus. Charles payne is going to call in with his thoughts on one of his favorite guests. Dont go away. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Im szasz. [norm] and we live in columbia, missouri. We do consulting, but we also write. [szasz] we take care of ourselves constantly; its important. We walk three to five times a week, a couple miles at a time. Weve both been taking prevagen for a little more than 11 years now. After about 30 days of taking it, we noticed clarity that we didnt notice before. Its still helping me. I still notice a difference. Prevagen. Healthier brain. Better life. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com the volatility. The ambiguity. This moment calls for more. And Northern Trust delivers more. With specialized expertise. Proven strategies rooted in data and analytics. And insights borne from over 130 years of successfully navigating economic turbulence. Giving you new clarity. Inspiring confidence. And helping you uncover new paths forward. Northern trust. Wealth management. Cheryl well some sad news to bring to you now. Former republican president ial candidate herman cain has died. He had a personality larger than life and had become a Ardent Supporter of President Trump. He died of complications from coronavirus after contracting it a few weeks ago. Herman cain was a frequent guest of this network and this program. I want to bring in Charles Payne on the phone this afternoon with his thoughts. Charles, i know he was very special to you. He was, i was thinking about it today, he was so darn funny. That is the one thing i can say about herman cain. Yeah. He was funny. Optimistic always, you know, always looking at seeing the brighter side of things. So it is just a beautiful man and whats crazy, it was so amazing to me to actually meet him and become friends with him. He was someone i idolized. I was looking at an article from black enterprise from 1988 and they talk about when he took, took over godfather pizza. His career is so amazing. He got a Computer Science degree while working for the department of navy. Got a job at pillsbury. He did so great at turning around a bunch of burger king restaurants they asked him to take over the godfathers pizza which had been the number three, it was number four, and number five. He came in cheryl, eventually bought it out with a partner t was a pretty big deal, it was a 250 milliondollar company back in 1986 and 1988. When i read the article i see why he was considered perhaps to be a great president ial candidate because, it talked about, cain is confident he can bolster yourselves and significant precedent setting deal has not phased this savvy executive. It demonstrates that blacks can make it in mainstream Corporate America t can, in italics it can be done. That was his whole life. Anytime you spoke to him about anything, youif you had doubt you came back with the last line from the article, it can be done. Cheryl you know it is, what do you think he will be most remembered for . His legacy he had a pretty good run for president back in the day, 2012 and at one point he had taken a leadership position. Everybody loved his tax proposal, remember that. 999. Yeah, you cant forget that. I think he will be remembered for Different Things for different people. Of course he had a radio show. He was infectious. People loved him. So interesting, about six or seven years ago, not long after the election that he was running in, i had a speech in las vegas and he had a speech in las vegas on the same day. Somehow the promoters found out, they said guys, youre smith the audience. We got together and well sit down. It was a venue herman was a much bigger draw than me but he was gracious enough to go first around he never let me forget it. Cheryl oh. He was a good man. Cheryl, for me, as someone who started a business out after onebedroom apartment in harlem when very few black kids thought they could be business people. Even know there are only three black ceos for fortune 500. The big three, were reginald lewis, percy sutton and herman cain. Im glad i had a chance to get to know him. Charles, thanks for calling in. All right. Cheryl we want to say of course our condolence herman cains family. May he rest in peace. Herman cain, he was 74 years old. Well be right back an army family who is always at the ready. So when they got a little surprise. Two . They didnt panic. They got a bigger car for their soontobebigger family. After shopping around for insurance, they called usaa who helped find the right coverage for them and even some muchneeded savings. That was the easy part. 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Cheryl tomorrow could be a rough day for Many American workers and Small Business owners as the extra 600 in unemployment and federal ban on evictions expire. A recent survey found more than half of Small Businesses closed during the pandemic will likely not reopen. That is especially true for restaurants. Nearly 16,000 restaurants have closed for good. Joining me the author of, 100 plus ideas and strategies for increasing your companys cash flow, Small Business expert gene marks. Always great to have you on the show and the network and i want to start with the unemployment issue. Those 600dollar addition is set to expire tomorrow unless something can come out of washington. And a lot, i heard a lot of Small Business owners saying their restaurant owners, saying people wont come back off unemployment because theyre making more money staying home. There are two issues. Those say that that absolutely right. Unemployment benefits are what they are 600, to entice these people to come back is very difficult to do. There is more incentive for them to stay at home so many Small Business owners feel that way. There is another opposing story, cheryl, there are some Small Business owners have been forced to shut down, still under quarantine, still struggling to get operations, they havent been able to bring back all of their employees. So actually the fact that theyre getting this unemployment benefit is sort of keeping the employees at bay. Theyre staying in touch them. Communicating with them, waiting for them to come back. Unfortunately if that 600dollar benefit runs out who knows what will happen to the employees. People might move or find somewhere else or other kinds of work or Business Owners might loose them all together. There is sort of two sides of the story im hearing from a lot of clients im talking to. Cheryl that is an interesting other perspective certainly. The eviction issue going back to restaurants. I cant tell you how many, this is just not in new york, but everywhere, how many Small Retail Stores are closed, theyre empty, theyre boarded up. How bad were not through this yet, gene. I think is the problem here. You know what also, cheryl, compound the problem as well, particularly you live in new york, i live in philadelphia, so for metropolitan areas like that, a lot of businesses are still in business, have shifted to a lot of working from home. So all the workers are doing that. Google Just Announced this past week they werent even going to bring back employees until the middle of next summer. I think a lot of big corporations will do that too. The other issue compounding the whole covid closure, a lot of people are not coming back to work. Which means if youre Small Business owner, run a lunch place in town a gift shop a drugstore, whatever it is, you will have a lot less workers coming to work because they work from home. That is a killer to your business as well. That is a lot of challenges that a lot of Business Owners are facing. Cheryl it is just not over which is the most heartbreaking part of all of this. I want to ask you before you go, new survey came out from creditcard. Com, a third of Small Business owners dipped into personal funds to keep their business afloat. Does that match what youre hearing . It doesnt surprise me. The number one source that people go to when they start up a business is their personal savings and their families. Smartest clients i have, best Business Owners over the years they us always sock away cash. They have a good four to six months of cash availability whether in the business or personal savings or at least availability for that. When people were dipping into the cash reserves now to go through a time like this, that kind of news doesnt surprise me. That is lesson for all of us. If you running from business, you emerge through this, navigate through this, dont let this happen to you again, build up cash reserves, four to six months. Cheryl that is a good piece of advice. What is so hard to see. If you want to own a Small Business, you have to really want it. It is a challenge. A lot of them dont make it. This is unprecedented. Gene marks, thank you very much, gene. Thank you, cheryl, take care. Cheryl meanwhile as many schools across the country are preparing to welcome students back theyre gathering all needed supplies. Were not just talking about pencils and papers, thermal scanners, new technologies will greet all the kids when they go back to the classroom. Grady trimble has a look at some of the things they will be seeing. This is pretty interesting. Hello. Reporter yeah it is, cheryl. Students will see school looks a lot like their home because schools are virtual. People in illinois here will look like this technology. This looks like a metal detector. It is one. As i walk through it, it takes my temperature there. There is this piece of technology here. It looks like an ipad. I approach it here. Temperature is normal. Reporter it says my temperature is normal, around 98 degrees. This company, antlia systems, has a thermal camera that can scan 50 people at a time. I want to bring a shot. Bill yates, you distribute the technology to schools, businesses. Why is this something that you think will protect students, protect teachers, also give parents some peace of mind . Main thing all patients with covid who are estimatic will have fever. You want to do that and have it checked in a noncontact way. All the scanners are noncontact. Wear a mask, sanitize, eye coverings are important. All the things we know you have to follow the science. Reporter cheryl this eliminates the possibility of teachers having ones to take temperatures and being close to students as they do that. One last change theyre making in this school in particular, is there putting these plastic shields around the desks. So a little bit of a different back to School Experience than you and i experienced. Cheryl . Cheryl yeah. There werent computers when i went to school. Grady trimble thank you very much. True, im old. We have breaking news. This actually plays into what we were talking with senator mike braun at the top of the show. Remember in the interview with him he brought up the issue he was hearing about a vote about to happen. Were learning what it is. This is procedural vote. It just started, it will vote, they want to do, procedural vote, for next week, it would be to renew the Unemployment Benefits. This is what senator braun was telling me earlier. So basically it is going, it would be interim plan, almost a skinny plan if you will. It would renew 400 of Unemployment Benefits for three months. Now, we just missed, when grady was on the air, you missed senator Chuck Schumer who was opposed, yelling screaming about it, saying it was a bad idea. Basically the democrats want to extend 600. Extend it to january for Unemployment Benefits. Remember this expires tomorrow. You have got mcconnell, they want to do something, but theyre not willing to commit to 600 a week in unemployment extra benefits for americans through january. So theyre looking three months. This is what mcconnell has. This is procedural vote, they would vote next week, looking at 400 of Unemployment Benefits for three months. Well see if there is a compromise here. That that is what senator mike braun was talking about at the top of the show. Now we know. When we come back the markets tumbling today after a rollercoaster week. A 33 drop in gdp. 32. 9 if you want to split hairs there. Well help you make some money coming up next on making money. Much like these majestic rocky mountains. Which must be named after the. That would be rocky the flying squirrel, mr. Gecko sir. Obviously ahh come on bullwinkle, theyre named after. Our first president george rockington that doesnt even make any sense. Mr. Uhh. Winkle. Geico. Over 75 years of savings and service. Essential for sewing, but maybe not mr. Needles. Inkle. For people with certain inflammatory conditions. Because there are options. Like an unjection™. Xeljanz. The first and only pill of its kind that treats moderate to severe rheumatoid arthritis, psoriatic arthritis, or moderate to Severe Ulcerative Colitis when other medicines have not helped enough. Xeljanz can lower your ability to fight infections. Before and during treatment, your doctor should check for infections, like tb and do blood tests. Tell your doctor if youve had hepatitis b or c, have flulike symptoms, or are prone to infections. Serious, sometimes fatal infections, cancers including lymphoma, and blood clots have happened. Taking a higher than recommended dose of xeljanz for ra may increase risk of death. Tears in the stomach or intestines and serious allergic reactions have happened. Needles. Fine for some. But for you, theres a pill that may provide symptom relief. Ask your doctor about the pill first prescribed for ra more than seven years ago. Xeljanz. An unjection™. Cheryl the market off of session lows. Investors are digesting that Economic Data from the morning. Theyre also looking ahead to tech earnings after the bell. Bring walser Wealth Management rebecca walser. Gdp, this morning, rebecca, rough number as expected and a recordbreaker. The question is what happens in the Third Quarter . Yeah, Cheryl Cheryl can you hear me . Yeah, i got you now. I went out. Cheryl gdp . Yeah. I mean awful news. Nothing weve seen since the great depression. It shows that what happens when you shut down voluntarily, when you have a bull market and 42 Million People go on unemployment. It is reflective what when he expected. It is all more points to the fact we need to get back to work as fast as possible, cheryl. When w dheon do you younknk wecill start toverec ut abo3 . 3 . It willwi not recov rerec,over, ai,aiaiirmanirmane w w tonusninesussessese ope ev neeryongg v vaccine a a a aan but wbue ne wede ae plan b. B. If auccefulfuacci wl be tried andd t aesd a implemd. We have to have a plan b. We cant start to reopen and start to see great economic numbers at start of may and june and keep closing back down and start to see bad numbers, slowing of recovery again. We need a plan b to get back to normalcy as fast as possible in the absence of a vaccine. Cheryl i agree with you, 100 , rebecca, last question, claims came in, and i thought continuing claims was the real story and that came in higher than expected and were going in the wrong direction with continuing claims. Your reaction . There is no doubt were going in the wrong direction, i cant agree with you more. I cant wait to see how tech stocks hold up today on earnings news, facebook, amazon, apple, google. I expect facebook will have hardest hit because of ad revenue declining from businesses because of virus. The stocks are 20 of the s p 500. We cant rely on them to bring us indefinitely through this storm. We have to get us back to work. We have open back up. Cheryl to your point im curious what Mark Zuckerberg says on the call about getting advertisers back on the platform because of all the companies have paused because of their handling of misinformation and you know, frankly meddling. Rebecca, thank you very much for your time. Good to see you as always. Thank you, cheryl. Cheryl coming up next, President Trump setting off a firestorm today after a tweet where he suggested delaying novembers president ial election. Well get reaction from the rnc after the break. You doing okay . Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Cheryl President Trumps tweet about delaying the election sending ripple effects across the economic and political landscape. Some republican lawmakers even rebuking the president saying that wont happen, including Senate Majority leader mitch mcconnell. But what does the party think of all of this . I want to bring in rnc spokesperson liz harrington. Liz, it has been pointed out all stay President Trump doesnt have the power to delay the election . Well, President Trump seems to be only person in washington that is sounding alarm bells about the problems posed by these radical democrat voting plans to completely overhaul our election process with a massive expansion of mailin voting. Think about what happened just the past couple weeks. You had another democrat indicted in philadelphia for ballot stuffing. You had someone trying to register a dead cat in atlanta. Of course you know what is happening in new york where here, we are, over a month after election day, nobody has idea who won. This is a huge threat to the integrity of our elections. President trump is simply raising the alarm bells on this. Cheryl he is trying to bring forth the issue to get us all talking about it which he effectively done. What is the plan here . We had senator braun on, a republican senator. Obviously he wants the election to go forward in november, and it will. How do we get more people back safely to vote and how do you incorporate the mailin ballots . There has to be a plan in place. We still have time. Well, exactly and that why we at the rnc we launched protect the vote. Were trying to protect voter integrity laws already on the book. We do not want ballot harvesting which is what democrats are pushing on nationwide scale where third parties can pick up to be responsible for ballots and we dont want to seemed out ballots to inactive voters there is an absentee process. That works. You have to request a ballot. You have to put an i. D. In when firsttime absentee voter. Those are common sense, bipartisan safeguards have been on the federal law books very long time. Were fighting to uphold those because you cannot have a situation where youre sending out millions more ballots than eligible voters in this country. That is what democrats have done in clark county, nevada. You saw the results. They piled up in the trash, on the treat for anyone to pick up. We cannot allow that to happen in november or democrats are demanding we wont have results until christmas. Cheryl that is where i will go. There is always issues with elections. It is every four years we go through. There is always problems, depending on the county, well get those stories after november but at the same time, you know, the question now has to be, you know, does any of this end up in the courts . A lot of folks are really concerned, this is what President Trump was talking about this morning. That you will have such a messy election, such a disaster election day, well not have true results. Are you really worried about Something Like that happening . Were absolutely worried. Why were meeting democrats in the court to uphold ballot harvesting laws, that ban in flash will remain in place. We cant allow ballots sent out who knows what happens to them. With limited mailin voting since 2012. You have 25 million ballots never returned. Youre talking about massive expansion of that. Talking about demanding in with free postage in new york. They dont even know which ballots to count. Democrats are suing in court to have ballots counted weeks after election day like they do in california. There is no confidence in the election out comes. Were fighting in court. We want to uphold the integrity laws on the books. It is so important. Because the same people who said our elections were so vulnerable that Facebook Memes could swing and election and sending owl millions of ballots to dead people and people that moved away. That is mockery of our elections. Cheryl there is always something happens every four years. Thank you very much. Keep us posted. Good to see you. Cheryl stocks are falling today, well off the lows of the session. What you need to know as we head into the final hour of trading. There is facebook up more than a quarter percent. Well be right back when you walk into an amazon fulfillment center, its like walking into the Chocolate Factory and you won a golden ticket. All of these are face masks. This looks like a bottle of vodka. But when we first got these, we were like whoa [laughing] my threeyearold, when we get a box delivered, screams mommys work mommys work. With this pandemic, safety is even more important to make sure we go home safe every single day. Cheryl stocks are mixed heading into the final hour of trading but big day for big tech as we will get Earnings Results from apple, amazon, google and facebook. I want to bring in nicholas Wealth Managements david nicholas. David, all eyes on these companies. Whats your expectation . Yeah, you know, coronavirus is obviously impacted the Broader Market pretty significantly in terms of earnings but tech has gone relatively untouched. 85 of Companies Reporting on beating bottom estimates but the problem is, we could still be seeing a 40 decline in overall s p earnings but techs story is completely different. If it wasnt for tech, if it wasnt for the federal reserve, we would see this market down 40 to 50 still. My outlook for tech is positive today. Im buying names like google and amazon into the close today. If youre looking for a longer term hold, i like those two names right now. Cheryl you brought up amazon and Amazon Web Services, aws, has always been a big driver of earnings for the company. Even in that long statement jeff bezos even talked about the fact that they didnt make money for so many years but also, im interested to see, you know, 38 of online sales are amazon and during the pandemic, this is going to be really where we get a true sense of how well they did. But he said yesterday dont discount the competition. Walmart and target and other companies that have really gotten into that online space. Yeah. Yeah, that was a good point. Ecommerce is here to stay. When i look at the changes in our family, my wife has not been to the Grocery Store since march. Its amazon. But also, target is a competitor. I think where target wins here is my wife, we can order something in the morning, two hours, she can go pick it up from target. Amazon is not there yet. I think they are goes to lose some ground there on the same day sales but again, for amazon, their expenses were heavy in the second quarter. I dont think we will see that going forward. Ecommerce is here. At the expense of the Small Businesses, unfortunately. But we will continue to see outsized growth for both the cloud and also for ecommerce sales. Cheryl you mentioned google. I want to ask, again going back, we heard from the ceos yesterday, now we will hear from the companies, what did you make of Sundar Pichais testimony yesterday . He had a lot of questions about their work with china. I think this is a big argument, a defense a lot of these tech names will have to make. I think some of these companies have been too easily swayed to do business with china without demanding china agree to certain stipulations in regards to human rights, in regards to privacy. I think theyve got some challenges there. But as a stock, you know, from an earnings standpoint, i think ad revenue will continue to climb. I think we saw their worst moment back in march. So overall, there is still work to do from a p. R. Standpoint but i think the earnings of the company are going to be strong. Cheryl apple, same kind of question. I think theres going to be a lot of questions today from analysts on the call about their facilities and production lines coming out of china, as our relationship with the chinese deteriorates. What does that mean for apple . You know, im sure they are going to try to stay away from that if possible, but i think those are the right questions to be asking. We as consumers should be demanding that they make those changes because i think theres a narrative changing here that with human rights abuses like we are seeing in countries like china, theres lots of nation readily willing, have the capacity to build these phones and build the infrastructure. Apple needs to start looking at that going forward. Cheryl are you still buying these names . Im buying amazon and google today. I also like microsoft. Facebook i think has some challenges. Those are the names i like. Cheryl david, really good perspective. All eyes are going to be on these big names after the bell. David, thank you for your perspective. We appreciate it. Thank you. Cheryl techheavy nasdaq is in the green, liz claman. There you have it. Big numbers, big names coming out in about an hour. Liz yeah. Absolutely. Its going to be the biggest earnings day ever. To see all those four big tech titans all repeating and putting their numbers out. We are on that case. Plus we are on this. Breaking news. President trump at this very moment is visiting the headquarters of the American Red Cross in washington, d. C. This is video from moments ago. President trump wearing a black mask as he visits people who are donating blood. The president is expected to hold a specific roundtable discussion donating plasma to help treat patients infected with the deadly coronavirus. We will take you there as soon as the event happens. You know the story about plasma. Its become a very important