Well take you there live as soon as we can. That much and more on making money. Charles so it was a major beat on the labor front on all parts of, right . Initial jobless claims declined 1. 2 million. Down 249,000 in one week. Well below consensus. Wall street was looking for 1. 4 million. Continuing claims declined to 16. 1 million. Down 844,000. Pandemic employment assistance swooned to 655,000. It was above 900,000 a week ago. Yesterdays adp number, tally of jobs created, 4. 3 million. Initially they thought it was 2. 4 million. All of this dovetails with better data on the economy and service economy. I know it sounds nuts. It against conventional wisdom of all talking heads but i think the v is getting stronger so am i nuts . Lets ask Keith Fitzgerald of the Keith Fitzgerald group, jack ablin and walser Wealth Management president , rebecca walser. Rebecca, am i nuts . All im looking at the data and it is getting stronger no stopping engine newt of the american machine and Economic Growth inbegin. Any kind of good news i will take. I see the light like you see the light. Im excited about the great number, 1. 2 million. Definitely lower than expected and ism, manufacturing, all these things positive, positive, positive news. I think you could be on to something we could be getting to a v, a check mark. Charles jack, want to go to you. We talked a lot. Maybe you were more cautious the last time we spoke. Some of these things gone past the v. They are looking sort of like a check mark. Kind of remind me of the nasdaq, right . Is it just, reason im optimistic, because of all the stops that we had. Stalling of reopenings. Some, some lockdowns put back into place. I think number could have been a lot worse today, than any of these numbers in the last week and they havent been. Yeah. I think americans are shelf selecting. They certainly need confidence to go out. Some americans do. I am looking at High Frequency data. We are seeing some pullbacks in, you know, reservations for dinner. And it does tend to lead infections. So it is really interesting barometer. I will also caution about the ism and, that data because it is diffusion data. Charles sure. Just showing growth, not necessarily the level growth but it is certainly strong. I dont want to take anything away from the data but you know my view is i think rather than a v, i think or a check mark, i think it will be more like a square root soon where we get back to roughly three or 4 below where we started year and kind of level off for a while. Charles lets talk about this covid economy for a moment because these stocks are absolutely crushing it. In fact i would say the stock of the day, not the way for the stock is performing but for the news is etsy. Take a look at the numbers there, the kind of growth they have seen, but these stocks themselves have become a little bit wobbly. So i think people who are in there probably should hold them. Keith fitzgerald, there is a debate whether you should close the ideas or stick with a strategy of buying on dips. The covid economy, covid stocks, are they still worth a look here . Of course they are, charles. You never want to second guess the markets. Let the markets make the decision for you. Have something simple as trailing stop if they ride higher. At worse, the market tells you to get out. Dont secondguess the opportunity in front of. Im a contrarian. When i saw this morning it really caught my attention. Along the same line of thinking but goldman saying a vaccine could upend this rally and saying that few people are prepared for what happens if we, lets say we get a vaccine in november. I want to know how youre positioning your portfolios . How should people be positioned, rebecca . Say we do get a vaccine t change as lost things with the market, right . Obviously for sure, we hopefully get back to whatever the new normal is, getting back out with confidence, if there is vaccine we should get out with confidence. 70 consumer driven economy, charles, while i understand that will change some strong players we had so far from sectors weve been strong this year. It reopens retail and travel, a lot of things we are not seeing that are weakness. I dont necessary any see we see the end of this rally. I think it will get us back to a new normal. I really charles, want a plan b without a vaccine. Im kind of skeptical that the vaccine will be all, end all savior. Charles maybe well do a different show on that real soon but, jack, i do want to ask today the transpos look fantastic, truckers and rails, american airlines, 50 day moving average, talked about restaurants, obviously a vaccine turns that whole thing upside down. We assume i we will go back to restaurants and fly planes. Do you get out of a zoom or nvidia to go into united airlines, Something Like that . Yeah. That is i guess the argument. I think a lot of these stay at home stocks, particularly tech, high quality names, really been the safe haven. Investors are, in stocks are viewing their stock portfolio like bond portfolios. I do think we will see, if we, vaccine is announced, it looks promising that we will see, a reversion of growth back down and value back up. But you know, i tend to agree. Im going to take a more skeptical view. Im willing to let opportunity get away from me. In exchange for just keeping a cautious stance on the, on the vaccine coming to market quickly . Charles right. Keith, i think from a stock point of view, listen, the both is working. These stocks are rallying. You know, etsy giving up. I think people should hold because it will go right back up. That is working. You dont have to force the issue. I know folks are building positions in the cruise ship companies, in the airline stocks. How are you positioning your portfolio, thinking potentially we could get a vaccine sooner rather than later . I think cruises, airlines have gotten ahead of themselves. What i think the real key takeaway here is everybody locked at tech and it has run up. The rest of the market will catch up. That is gotcha if there is a vaccine. That is what people are not planning for right now. Charles talk about volatility. Calmed down dramatically. Dalery range was half a percent. Back in march we were get being 9 moves, intraday, 20 . What does the calm after the storm mean for markets . Keith, i will go back to you . Weve been writing about this for our clients, this is typically a sign of shortterm reversal. That gets me ready to buy more stuff im interested in but be on guard. Beyond that i will not look at a critical ball, the longterm recovery, whether it is a v or square root sign jack talks about, i dont care as long we have the opportunity. Charles rebecca, were back to normal with volatility, that a good thing for you . Good for longer term people kind of spooked w very margin, 30 drop, people not sticking with the plans. Emotional investing is always a problem. For the shortterm investor they like volatility. They make money on shortterm buys. That is not so great for them. The longterm investor, ones that get spooked, we need steadiness and we need steadiness before the election the im looking for that. Charles jack, calm after the storm but is it the calm before the storm . I think it is. Remarkably i looked at vix futures to see, okay, we know vix right now is pretty good about whats vix look like after the november election . Do we see a spike . Remarkably no. So im not sure that the Options Market is prepared for any volatility over the next few months. Perhaps we could be caught flatfooted about that is the assumption. Charles good thing we were caught flatfooted back in march. We held our own. We held in there. Were doing okay knock. Keith, jack, rebecca. Always appreciate it. Thanks, charles. Charles President Trump ordering his staff to work on an executive order as the stimulus talks continue to stand still. Chief of staff to Vice President pence, marc short will give us his take on all of this later. Also his reaction to his boss calling out chief Justice Roberts, quote, a disappointment to conservatives. Later in the hour los angeles threatening to cut off the electricity and water to homes hosting parties. Have cities gotten too power hungry . I want to hear your thoughts . Tweet me cvpayne. Well be right back. We love our new home. Theres so much space. We have a guestroom now. But, we have aunts. Youre slouching again, ted. Expired, expired. Expired. Thanks, aunt bonnie. Its a lot of house. I hope you can keep it clean. At least geico makes bundling our home and Car Insurance easy. Which helps us save a lot of money oh, teddy. Did you get my friend request . Uh, ill have to check. doorbell ringing aunt jonis here for bundling made easy, go to geico. Com. Hello . Charles breaking right now, President Trump is in ohio where he is set to tour a whirlpool factory and tout his America First trade policy. Meanwhile in washington the stimulus talks are still at a standstill, well, now, President Trump is taking matters ins his own hands. The president tweeting, upon departing the oval office for ohio i notified my staff to continue working on an executive order with respect to payroll tax cuts, eviction protections, unemployment extensions and Student Loan Repayment options. For more on the stimulus fight im joined by marc short, chief of staff to Vice President mike pence. Thanks for joining us. Where are we right now . I saw interview with nancy pelosi, a lot of namecalling, fingerpointing, nothing that represent ad serious effort to come up with some sort of a deal . Thanks for having me on. At this point, as you see the economy continuing to rebound we remain encouraged but we remain frustrated where the democrat posture right now and there are americans that are hurting from the virus that came to us from china, no fault of their own and still more support in their economy. The democrats pushed forward a liberal wishlist, all sorts of things unrelated to coronavirus. One instance they provided guaranteed banking access for marijuana growers, that has nothing to do with coronavirus. Seeking 3 1 2 trillion dollars with a lot for bailouts for state governments, many cases poorly run by biggovernment democrats. As you know what donald trump created when he created 7 1 2 million new jobs in first 3 1 2 years of his administration was a progrowth Administration Policies of lower taxes and deregulation. That is it what is most encouraging with the economy again. Neil charles marc, on the Public Relations front do you think republican cost lose on the 600dollar thing, by the way effectively masking all the other goodies that you described that have zero to do with coved individual . Idea in certain states, red states, the jobs have not come back yet and the party is saying well, thats okay, you will get less money and you can just suck it up until these jobs come back . That is the narrative starting to may have out. Is the party concerned about this . Charles, youre right about the issue but on the pr front the reality is that very generous support was provided, and it was needed. We want to make sure there continues to be support for people that lost jobs but at the same time, you dont want to have that number in a position that actually discourages workers from returning to the workforce. And the 600dollar figure, i think weve begun to see from many people, particularly in the Hospitality Industry who tell us theyre having hard time getting people back to work because the unemployment basically is discouraging work. Charles right. The more you subsidize Something Like that, the more you see that level of unemployment. We actually think the best way to continue to lower unemployment number, get americans back to work is that people will be hiring faster if that, if that number isnt quite as high as it has been. Charles i do know when people ask President Trump this question in the press conferences, they bring up the studies, whatever, what proof do you have . I think it is common sense. If im making 1200 bucks being unemployed versus 600 being employed, you will have a hard time getting me back to the job. That is called common sense. There needs to be something in there, some kind of a middle ground. Not 70 solution mnuchin wants. Your boss, take a watch. We have respect for the Supreme Court of United States but chief Justice John Roberts has been a disappointment to conservatives. Whether the obama decision or recent spate all the way through calvary chapel. It is a reminder. I think several cases out of the Supreme Court are a reminder just how important this election is. Charles you know, of course, this goes back to 2012. It has been a long time. It seems to be really more so now that justice, chief Justice Roberts is the swing vote, more often than not against conservative principles. What is the overarching message that Vice President pence was trying to get through here . Well, charles, i think you did hear the disappointment in things the very tortured gymnastics that took place to justify Something Like obamacare. More recently there have been several decisions in this session that i think even the Louisiana Court decision the Vice President referenced in which there was very common sense measures to require doctors requiring abortion to have admitting privileges in a hospital, just a few years ago judge roberts voted the other way. There are several concerns. The very Important Message here, when donald trump ran for president in 2016, he did something really transparent, uncommon. Not just the type of people he put forward. He forwarded a list of names. You look over 200 confirmed federal judge this is president nominated, got through the senate, its a remarkable part of his legacy as two United StatesSupreme Court justices. There is commitment and promise from this adminstration four more years you will continue to see more appointments of that nature. Charles i know that is one of the things that galvanizes republicans even though toes that may not like other parts of trumps agenda almost all republicans agree that is a shining spot. Marc, thank you. Appreciate it. Thanks for having me on. Charles at 2 40 well drill down what a biden presidency means for your taxes. New york and d. C. Pulling the trigger to try to end the National Rifle association. A veteran, Stacy Washington sounds off on that after the break. Are major cities using the pandemic to push a power hungry a agendas . Why critics are slamming los angeles and new york city. Well be right back 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. Stocks by the slice from fidelity. 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Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. President trump i think they should move to texas. Texas would be a great place for it, to another state of their choosing. I think texas would be a great place, an appropriate place for the nra they have been absolutely decimated by the cost of that lawsuit. Charles President Trump urging the nra to move to texas following a lawsuit from new York State Attorney general, claiming that they have lined their own pockets with charity money. Joining me now black voices for trump Advisory Board member Stacy Washington. Who by the way also happens to be an nra member. I thought they always were based in texas. A natural fit. Golly. What do you make of this . It feels like a coordinated response, particular letter with new york and d. C. Going after the nra at the same time . If there is one thing the new York Attorney general hates, two things, the President Trump and the National Rifle association. So my question, i believe the National Rifle association will prevail in the lawsuit she is launching against them, but i have other questions for here. I think people who live in new york have other questions as well. Why is she not coordinating to try to reduce the amount of crime that is going on in new york right now . I really feel as if her, almost a single tunnel vision type of fascination or obsession with the National Rifle association and President Trumps taxes has distracted her away from more important work in protecting the people of new york. So they have experienced record amounts of crime, charles. Charles right. They deserve someone who is actually advocating on tear behalf and prosecuting people committing gun crimes instead of going after organizations that protect lawabiding gun owners like myself. Charles nra response, it was baseless premeditated attack on our organization and Second Amendment freedoms it fights to defend. I think what President Trump was suggesting, stacy, new york state can bring these kind of lawsuits. They have endless amounts of money, if nothing else create economic damage to the nra. Which has been something the left has hated. They have always hated the nra. People think this, if you attack them youre attacking the Second Amendment. It is tough to see at this point in time. I do want to switch gears here a little bit. President trump calling for the first debate with joe biden to be moved up. He wants it to happen before the states start mailin voting. How can voters send in ballots, starting in some cases one month before the first president ial debate . Move the debate up. Debate is public service. Joe biden and i owe it to the American People. Think it will happen . I dont. So we havent seen joe biden outside of his basement shooting room for, you know a few weeks now. I think it is important to note that meanwhile President Trump obviously in his position as chief executive, he has been all over the country working on behalf of the American People but he also done campaign stops. He is still out there pressing the flesh, trying to be as present as possible to the got message out there. Trump administration, trump victory, includes Grassroots Army of 1. 8 million people. Theyre knocking on doors. Im participating in all of that as member of the Coalition Advisor board. Charles, there is a stark contrast here. The president is actually asking for your vote. He is touting his accomplishments. He is promising to do more. Joe biden still in his basement insulting black americans, making a mockery of running for the presidency. Charles some people are saying he could coast to victory in the basement. I dont know if he will shift away from. That i want to pick up what you just said. If asking a black journalist if he was a junkie wasnt bad enough, during his event with journalists of color, joe biden insinuated that black people do not have diversity of thought. Take a listen to this, stays city city. What you all know, most people dont know, unlike the Africanamerican Community with notable exceptions, the Latino Community is incredibly Diverse Community with incredibly different attitude about Different Things. Charles you must be one of the rare exceptions, stacy. I dont have a lot of time. Just your thoughts on that. I dont know if i can legitimately accept all of these as gaffs but something he believes in his core . He believes that. Why he told the Breakfast Club if you dont vote for me you aint black. Two of oust out of 48 million americans have diversity of thought. I think there are americans who are black plan to vote for the president this fall. Joe biden better keep insulting us because well leave him behind. Charles you ever wonder why a Political Party can take people for granted it is that kind of thinking. Thanks, stacy. Thank you, charles. Charles mayor bill de blasio are rolling out covid checkpoints to make sure they obey quarantine orders. Critics call it government overreach. Ashley webster with more. Ashley charles, restaurants, hotels, tourist hot spots hope to recover being in from visitors, new rules may spell trouble for economy f you visit new york city from one much these 35 states, that is a large number, you have to fill out a health form and selfquarantine for 14 days. Who has the time to do that . The city says, it will check up on you. Hmmm. New crackdown includes random checkpoints at major bridge and tunnel crossings. The new york sheriff says the checks will be at key entry points into the city. His deputies quote, will be very visible. Mayor de blasio says new york city has seen a positive test rate under 3 for two full months but he says one in five new cases come from out of state travelers. Thats why if you break the rules, you could end up paying a big fine. How big . Potentially up to 10,000. The mayor says the city is very serious about enforcement. It will be random, it will be moving but i think it will get the message across. What were doing at the airports, working with the state and port authority, what were doing at bus station, penn station for travelers coming in from those states. Getting people to the point of contact. Getting them to fill out the forms. Following up aggressively with them. Well be doing a lot more. Well engage every business and institution. Ashley you would think that would be terrible news for businesses hoping to rely on, as i say the income from visitors but, maybe not. We spoke with a Manhattan Chamber of commerce who told us, quote, new york city has dramatically reduced its number of covid cases. We want to keep it that way. Residents and tourists alike need confidence they are safe as possible when they venture out to shop in our stores and walk in our communities, but, the Hotel Association of new york city, not quite as enthusiastic. When we reached out to them they told us quote, bottom line, it will have a highly deleterious impact on an industry that is practically withered into nonexistence. Unquote. Volunteers, charles, will be taking forms, travelers come into new york state. If youre flying into any new york airport you have to fill out a special air travel form. If you dont do that, you could face a 2,000dollar fine. Welcome to new york. Charles i dont think a lot of are going to come unless theyre visiting ailing relative, ashley. Ashley right. Charles too many hoops to jump through. Thank you very much, my friend. Joining me for action Young Americans for liberty analyst emma michelle. What is interesting for me as i monitored new york city over the last four or five months, there was already a defacto travel ban in effect. They wouldnt reopen the city not because of manhattan but out you are boroughs, bronx, places like, that dramatic difference in casings everything else. To change the focus we dont want people from over 30 states to come here unless they can jump through these hoops i think is economic suicide . Yeah. It sends a message how and clear. Those are bill de blasios own words, we want to send a message. America hears him loud and clear. He doesnt want people from other states coming to new york. That is exactly what is happening there. Weve seen a population decline for the first time in decades. That is because of his tyrannical policies. People dont want to live in crowded, overpriced, democratrun cities. Americans want liberty. They dont want little tyrants like bill de blasio or folks in their statehouse telling them what to do. Charles it is not just new york city, right, taking these dramatic measures. Los angeles threatening to cut off power to people who throw parties amid the pandemic. Weve been without power for two days. It aint a good thing to threaten people without power. Just how far is too far, emma . It is already gone far too far but this is just showing how far they are willing to take this thing. Americans hear the message. They understand about getting involved again in local and state elections. People will not roll over to take this anymore. I think were reaching a tipping point. Even nonpolitical, nonconservative americans are starting to wake up and realize these bureaucrats dont have their best interests in mind. Im calling right now, charles, well see more involvement in local and state elections this fall than we have in a long time. Dont take it from me. Take it from 1000 students with Young Americans for liberty that will be deploring to talk a million doors in the upcoming election cycle. People are fed up. Theyre tired of this. They want change. Charles i think a good thing they should look at as these mayors, just how many young adults, millenials are leaving these cities in droves. Absolutely in droves. You know, i dont get it. You know, power corrupts and more power corrupts even more. That is not the saying but what the heck. Emma, always a pleasure. Nice seeing you. Thank you. Charles she is an outspoken conservative and she is a fashion model. Coming up Elizabeth Pimco shares how she is standing up for herself as a trump supporter in the fashion world. Were diving into what a biden presidency would mean for your wealth and economy. Does your tax plan add up. Well find out. Well be right back the ambiguity. The moment calls for more. And Northern Trust delivers more. With specialized expertise. 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Charles well the Mainstream Media is lapping up the possibility of a biden presidency that little, really, few of them are paying any attention to his tax policies or any other economic policies, but the tax policies specifically. Talking raising top individual tax rate to 39. 6 from 21 . Itemization of deductions to 2 . Those with incomes exceeding one million dollars, could see longterm Capital Gains go to 39. 6 from 20 . What does it all mean for your money and the economy . Optimal capital director of strategy, Francis Newton stacy joins us now. One of the things that bothers me, when i watch the financial media, joe biden is talking about going to 28 that is not a big deal. Theyre underestimating how big of a deal it is on the business side. You add some of the individual sides, it will slow the economic recovery halted in february but certainly in place . Charles, i completely agree with you. If you look at the increase on the Corporate Tax rate to 28 , and the rest of these increases youre only really raising about 3. 2 trillion in 10 years. That is the Tax Foundation estimate. 3. 2 trillion in 10 years. It is not worth it. We added 3 trillion to the fed Balance Sheet in three months this year. So, you have to look at what the benefits are and what the coasts are and when you consider that we have almost 20 of our firms in the u. S. Zombie companies, they make less than profit than they have to service in debt, that is one in five, charles. So when you consider how many some by companies there are, they will have bankruptcies. They will not be able to service their debt. That means they lay off permanently their employees and his task increase threatens these Balance Sheets. How many more companies will go into the status of Zombie Companies . It is not good for the employment picture t doesnt raise enough money. The Financial System where we are cannot substantiate that increase, charles. Charles well, i think, i agree with but i also believe the influence of progress serves i dont think he is playing it but i think he is deliberately playing it down, he has become close with elizabeth warren. We know how much power aoc has in the party, the agenda itself, calling for a trillion dollars in new spending. Where do you think the tax rates will go on their plan like that . You couldnt just go to 2on the business side . You couldnt go to 39 on the individual side . I think you will go a lot higher ultimately. Absolutely. What i just said f his current tax plan is estimated to earn 3. 2 trillion over 10 years. We just spent 3 trillion in the last couple of months. You can see the rates are dramatically different. I think both side will have to spend Going Forward but the debttogdp, the debt is increasing dramatically and gdp is now being reduced. The other thing about joe bidens tax plan, it is estimated to reduce gdp by 1. 5 . We already have declining gdp climbing out of covid. Putting pressure on gdp exacerbates gdp to debt ratio which doesnt matter until it does. Joe biden and trump are walking a fine line. Theyre playing up populism. That is what happens when you have a significant wealth gap. Part of the addressing the wealth gap is addressing the debt because the debt affects the two side so differently you see. Charles i would also argue the wealth gap is a lot more prominent and replaced with progress stiff policies. Income inequality goop gap is worse in new york city and los angeles than any places in the country. 30 seconds, climate agenda, get rid of all the climate jobs and gasoline and everything else, what is the true cost to that, francis . Again youre putting pressure on an employment picture already in a dire situation after covid, right . If you want to go to more green sort of ideals and things like that, you just cant cancel fracking in one day. You have to have a plan to go from fracking to green. Which of means you have to have a plan to retrain the workers or youre just going to displace more workers. The wealth gap gets larger, the employment picture will get worse t will affect gdp. So it is like, neil hates the rubber meets the road but it is the ideology versus the practical implications. Charles there is some in the biden camp who believes they will ban fracking on day one if they ascend to the white house. Francis, thanks very much. Thanks, charles. Have a great one. Charles she is an outspoken trump supporter in the modeling industry and now Elizabeth Pimco is sharing her experiences in an upcoming book. Why she thinks patriotism is more critical than ever 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. They get that no two people are alike and customize your car weve just been finding a way to keep on pushing. Insurance so you only pay for what you need. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. But what if you could stdo better than that . K. Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Charles gallup poll out this summer shows American Pride is at an alltime low. Only 45 americans are saying they are extremely proud to be an american. My next guest hopes her story will encourage more american to feel patriotic, especially when there is so much political divide in our country. Joining me author of the upcoming book, finding my place Elizabeth Pimco. Besides being an author youre also a model. Last year, you shock ad lost folks in the industry you revealed a trump supporter. How has the response been since then . My, thank you for having me. It has been a lot. Not only i was a trump supporter. I was a Trump Campaign staffer. I was ultimate goal for cancel culture. That is what happened to me. It has been rough and amazing to hear from other people around the country, 24 years old inspired by telling the truth who i voted for, which is crazy, but it shows how divided we are as i said in our country. It has given me hope for our future and what i i do to heal the divide. Charles what part of experience is giving you hope . What people say separated from media and those they are afraid of. So many people genuinely want to sit down to talk with other people come from different background, different experience, different ethnicity, all the Different Things that make america what it is. That is still here deep down in one of us. For some reason the media wants to divide us, politicize everything, including my story. Hopefully sharing my story, where i come from, why i have done what ive done. Explain a little bit myself. And not to judge people by the name they circle on a ballot in 2016. Charles it is interesting, on the left they talk binclusion, a lot. Diversity a lot, but if you come out, not diversity or inclusion of diversity of thought. It is worse than that, because in this period of cancel culture it hurts peoples livelihoods. It makes people afraid and intimidated. Read 70 of strong conservatives are afraid to say how they feel. Right. Charles so i give you kudos. Great, congratulations, for monning that courage but have you taken an economic hit from it . A little bit. I think we all have. America means a lot more than economics to me obviously. I tell the story in my book. But my parents, grandparents gave up literally everything they had to come to america just like some other families. I was not going to let anybody take what they have been through away from me. Encourage people to do the exact same thing. Charles i like what you said, people say without the media around. I have conversations with my friend for 50 years. People who never labeled themselves conserve tiffs but agree with everything that conservatives believe in. When is the breakthrough come in . When do we turn this around as a nation . How do we embrace each other regardless of our ideology . Were the United States of america. So there is always, always hope. We are a beacon of light for some people, not just my family, like i said. Some people around the world. If we just sit with one another and realize that, what makes us as special as we are, separated from the media and what always these people at the top are trying to do to us well go back not what we were before 2016, but even to a better place. Charles congratulations on the book. I look forward to reading it. Thank you. Charles get out your pads and pencils. There could be four sectors that are on the verge of breaking out. They call them value stocks. We will talk about it on making money when we come reals in your customized view of the market. Back. Businesses are starting to bounce back. But what if you could do better than that . Like adapt. Discover. Deliver. In new ways. To new customers. What if you could come back stronger . Faster. Better. At comcast business, we want to help you not just bounce back. But bounce forward. Thats why were helping you stay ahead and adapt with a network you can count on, 24 7 support and Flexible Solutions that work wherever you are. Call or go online today. Charles well, stocks accelerating their gains as were at session highs. Earnings keep rocking. Some would call it the c. P. Effect. These earnings, i think we actually added a layer of justification for this rally and take a look at these Second Quarter earnings releases. So far, 82 of companies have beat the street, 16 missed. We have lost 31. 9 , thats your average blended return. Its a lot but the street thought it was going to be around 43 . On the revenue side, 64 beat, 36 missed. Your blended loss down less than 11 . We thought it would be closer to down 12 . So earnings have done extraordinarily well. I want to bring in pointview Wealth Managements david dietze. You manage 6. 5 billion so you are watching this day to day, this close. It feels like the last few days, the market is now reacting to earnings, particularly earnings in nontech names, in a really positive way. I know the numbers were low, i know expectations were low but are you impressed with what we have seen so far . Yeah, absolutely. Because as you just cited those statistics, although were down, were beating the estimates by a percentage that we normally dont, both with earnings and revenues. I think more importantly, its setting us up for Great ResultsGoing Forward because with the low earnings now, a year from now, six months from now, people will be comparing the current earnings versus what we have now and those comparisons are going to look very very favorably. Remember, stocks look forward, not back. Charles interesting you said that because although a lot of companies are still pretty opaque when it comes to guidance, we have had a lot of earnings warnings. Companies that do have visibility overwhelmingly are saying things are going to get better. I think that makes also, its one of the reasons the s p is catching up, we can see the dow go positive this month for sure. But if that happens theres talk about rotation now, that theme keeps coming up. Four sectors i think socalled Value Investors find attractive. Im more excited about industrials and materials but financials and energy also get a lot of attention, particularly if these names can break out. We have key breakout levels. Where are you right now in terms of measuring your portfolio, david . Are you in some of these names . Are you looking at some of them . Absolutely. Charles, we love the industrials, like you, and theres really three great reasons why it makes sense. First of all, they have lagged in the rally. Valuations are much more reasonable. Second, of course, when you look at what the Global Economy is doing, we are seeing manufacturing indexes in europe get well over 50, well past expectations. In china, its just a matter of time before manufacturing really takes off here. Third, of course, is the shine has been taken off the dollar. Makes us a little more competitive. I think that will be a tail wind behind u. S. Manufacturing. Finally, Interest Rates are going to stay low for years. When youre looking at capital expenditure, looking at manufacturing, Interest Rates come very importantly into the mix. I think thats why industrials have a great future ahead of them. Charles im extremely overweight industrials. Energy is down, financials are down, health care is down, materials are down. Only industrials are up. Theres a lot of folks out there, a ton of money, saying hey, until i see a real serious move, im going to stick with communications services. Look at the leading todays session, facebook, disney. Is there anything wrong with riding that wave until the wheels come off . Well, certainly i think we are all looking for this entire market, for this entire economy, for good news on the vaccine front. Im optimistic. Over 200 companies are working on it. United states just gave a 1 billion contract to j j. I think once that comes out and we see some sort of light at the end of the tunnel in terms of return to normalcy, that could be the trigger for a rotation, as you say, from the stayathome and secular tech plays into some of these more cyclical better valuation plays. Charles jobs report out tomorrow. Your thoughts . Do we need a big beat . Because if you get another big beat, maybe that makes congress stall a little bit, takes away their urgency, but do we need it for this economy and this stock market . Well, certainly the jobs report is backward looking. Im optimistic here. Of course, we saw a better than expected weekly jobless claim. Adp was a little disappointing but when you couple it with the big revisions in june, i thought that was okay. I think at the end of the day, the stimulus bill getting passed is more important because thats going to affect peoples sentiment and prospects looking forward and we are going to move away from looking backwards at the jobs numbers. Charles i dont know what the heck they are thinking about in washington, d. C. I have been saying a pox on both houses. David, always appreciate your wisdom when it comes to these markets. You have been spoton. Thank you very much. We are near the highs of the session. We are building a little momentum. You would think perhaps that congress would come through with something. We may have 24 hours to go on this. Liz claman, last week you told me this week was the moment of truth. Maybe it all comes down to tomorrow. Liz yeah. You know what, and tomorrow, you just mentioned it, we obviously are waiting on the jobs report. That is going to be a big one, at least with the news heft of it. And weve got this breaking news. We are about to take you live to the whirlpool plant in ohio. This is the largest washing machine factory in the world. President trump, there he is, taking a tour right now on the ground in the buckeye state. What hes going to do after the tour is give a speech on the economy and in the latest shot at china in his yearslong trade war, we do expect him to sign an executive order requiring the federal government to buy its essential drugs