Which has mostly gotten a free ride. Well get reaction from liz peek coming shortly. Spigot to Small Business drying up. So what happens now . All that and so much more on making money. Charles well the dow is up steadily today and the market has been on a roll. The market has done better than you probably know. It is not reflected in the quotes. Give you an example. The s p was up. 006 . Tiny fraction of an increase. Guess what . Nine of 11 sectors were higher on friday. This rotation is going on. Weve been talking about for some time. Now it is catching fire. What should you be doing to take advantage of it . I will bring in my three favorite experts, mike murphy, Courtney Dominguez and shah ghailani. Mike, i want to get your thought on what were seeing in the market. The dow is having a powerful session. A lot of tech names are under pressure here but this rotation we talked about is happening. I dont think youre buying it just yet . You know, charles, i love some of the big Dow Companies like fedex having a big move. I still think disney is still very undervalued here. Nike i like. Hit a new high. What has gotten us to this point, charles, is big tech, the innovation coming out of big tech. People need to be very careful with trying to pick bottoms or pick when they deem to be undervalued companies in sectors like energy because i just dont see the growth there. I think, if you stick with the big cap techs, like an apple, like an amazon, like a microsoft, i think that is what is going to continue to power this market higher. Charles im with you when it comes to energy but i will also say, courtney, mike mentioned fedex. Fedex traded 7 million shares. Up 15 bucks. Normally trade 2 million shares. Up 100 for the year. Royal caribbean is through the roof. Foot locker had a bangup earnings report. That stock is up over 20 . Boeing, even boeing is on the move here. Wynn casinos, dave and busters. These are names weve been watching but what is crazy to me theyre moving like tech stocks. In other words, investors are saying okay, were going to take a break on all the big names that we know but theyre powering these names higher at the same sort of rate we saw tech stocks go. Are you okay with that . Yeah. I dont even really find it that surprising. Weve been talking about this for the past several months that the tech names are getting more and more expensive but really purely based off people willing to pay a higher price for it. It is not as much just their earnings going up. To a certain point you will see that reverse. There is a lot of names right now that are still undervalued and so much cashing on the sidelines. You will see people start to draw this back in. It is very similar what we saw in april. The coronavirus cases started to level off. We immediately saw things reverse back to cyclicals. Were a few weeks after, a peak of cases, starting to see things reverse back to cyclicals. You will continue to see this trend continue as the megacaps are getting that much more [inaudible] charles right. So cyclicals, shah. Of course they did do well as the broad economy starts to do well. Were starting to see that 207 s p winners coming into the day. That is the highest number since this whole thing hit the fan but again you could have traded deere as many cloud stocks. Theyre playing catchup pretty quickly, are you surprised . No im not surprised. A couple reasons, we first saw 54 billion in outflows from equity funds for the month of july. That money is now looking for a place to go. It will have to play catchup. There are more than 1. 163 trillion in money market funds. That money will come off the sideline to be put to use. Investors are coming into the beaten down stocks. Theyre coming into the cyclicals. They recognize where the appreciation is likely to be because i dont think that the tech stocks are fully valued. I think theyre properly valued. I think there is more upside for them but i think the rest of the market is catching a bid because of that. Charles i got to tell you, im licking my chops over some of these cloud names, particularly the ones i missed first time. A few of them came down into the session 50 . We have to talk about President Trumps executive order. I think it is helping the market today. There is one report that says 400 versus 600 means the gdp will decline 0. 83 and well have 660,000 permanent job losses. When i see stocks like foot locker today, tells me consumers are there but tells the economic bridge and i think we can get outside of the economic growth. Tell us your thoughts where congress should be with respect to more stimulus and what it would mean for the market, courtney . Any stimulus well get is a benefit. Realistically it is the consumer driving the economy right now. The consumer is a pretty good standpoint. They have been saving more. Credit card debt has come down 12 the last couple months. There is a lot of cash on the sidelines people can bridge the gap to get them through as things get back to normal. Any stimulus will only make that more attractive. I think well continue to hopefully see the Consumer Spending boost. That is going to help the economy t will help the stock market. It will be an added benefit as we look forward. Charles right. Mike, your thoughts where we are with congress, the stimulus and these executive orders . Yeah. I think based on what were dealing with, charles, no one asked for this virus, this pandemic being that we are dealing with it now i think the administration is doing exactly what needs to be done. You can argue should it be 300, 500 or 400, i think the fact theyre trying to help the u. S. Consumer on both small and large families, i mean the highend and the low end, thats what is going to help us get back on our feet, get us rolling and get unemployment down to record low levels where we were six months ago. Charles consumers paying down debt, particularly Credit Card Debt like that weve never seen it before. Still making some purchases in the economy. Warren buffett put out his numbers over the weekend. So did airlines and financials. Shah, i want to come to you on this. The oracle of omaha did buy more bank of america. I know you like certain ideas in that area. Financials really came on strong last week. What are the specific banks youre looking at . I do like bank of america along with warren. We like Morgan Stanley and we already have a substantial position in welles farring wells fargo, the underdog. They have acted bret well, wells fargo the laggard. Most of the names look pretty solid. Charles okay. Twitter, guys we know it is in the news big time this morning t opened nicely on talks theyre in talks with tiktok. The company of course would need a partner or would have to raise cash to make it a buyer. Let me ask you, mike, whats the best fit for tiktok . Would it be a twitter . Would it be microsoft as an investor . Which would be more attractive for you . As an investor i think microsoft. I really think twitter under jack dorsey has shown, charles, theyre willing to pick sides, political side, that is. I think tiktok is better if theyre more open, if theyre more along the lines of something that can really help the buying company monetize the youth, the teenagers and the genz people who are using tiktok. I much rather see it go to microsoft, apple, then go to a twitter. Charles in the meantime, courtney, by the way let me get your thoughts own that before i switch topics. I have to agree there. I think the most realistic option will be microsoft. Theyre a lot further ahead in a deal. Realistically they have the cash to back it. Look at twitter, they just recently became profitable the in the last year. They posted a loss. They have to borrow the money to do this. Realistically were probably looking at microsoft. Charles Simon Property group in talks with amazon. They can lease out all the empty sears and jcpenney stores. Shah, this is a nobrainer to me. By the way Simon PropertyGroup Reports after the close. Im intrigued there. Would it make you more likely to be a buyer if indeed they were able to cut this kind of deal with amazon . No, charles. Im anxious to see the earnings myself on spg. Were negative on that. Really short it and i dont think this deal if it materializes into anything is going to be a huge net positive for simon because amazon has the power to price those leases anyway they want. They may end up buying some of those properties. I dont know what it will do for the maul traffic. I dont see it as a positive for spg in the long run. Charles by the way, we didnt get to software as a service or cloud. I do know, mike, you like dropbox and shopify here. I want people to focus on that sector. Some of those names are extremely oversold. I think there will be great buying opportunities. We have to leave it there. Fantastic as always. By the way, folks there is a different kind of border war is heating up. Why New Hampshire is investigating massachusetts, their tax policy. Small Business Owners still have a lot of questions, more questions than answers when it comes to the ppp program. Tweet me your questions cvpayne. I have gene marks on to help hash it out. Because a lot of folks still need help. Who will joe biden pick as his vp . Why both sides of the political spectrum are eager for that grand reveal. Well reveal our thoughts next. Tada did you know Liberty Mutual customizes your Car Insurance so you only pay for what you need . I should get a quote. Do it. 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Apparently some top contends include senator Kamala Harris along with former Obama National security advisor susan rice. Joining me with analysis, Fox News Contributor liz peek and democratic strategist kevin walling. Kevin, it has been a long time. I want to start with you, my friend. Who are you rooting for here . Who do you think should getted nod. Charles, so great to see you and it is good to be back. I think its a matter of minutes, not hours and days until we find out who will be running with the former Vice President. I think six women are in contention, more than half of the are woman of color. Rounding out the list is senator Kamala Harris. Susan rice, former u. N. Advisor and ambassador under Obama Administration is making a play. Congresswoman karen bass of california, tammy duckworth, senator from illinois and. Charles right who will get the nod . I think it is senator harris. Charles who will get the nod . They have a relationship. I think it wit be senator harris. She is very close with the former Vice President s son bowe biden when they were attorney generals of. Their spouses are close. My money is on Kamala Harris. Charles liz peek, i did not know that they were close when i watched the first debate but apparently they have mended the fences if you will. Liz, i dont know the whole process has been almost complicated as a goardian knot. This is tortured process. They dont know where to go with this thing, liz . I think it is interesting, it has been postponed a couple times about the announcement who his pick is. The problem he got himself into a box. He committed having a woman run with him many, many months ago. Because of various gaffs he has made, because he is very, has a lot of africanamerican support, i think it has to be a woman of color. I dont think there is any question about that. So the problem is that the two best contenders, i would say the three top that were already mentioned all have problems. Kamala harris is a Law Enforcement, has a Law Enforcement past. That is not very popular with brac voters these days. Susan rice as tons of baggage. Republicans will go after her from the getgo. Care ran bass no one knows. I dont think these are terrific choices or terrific opportunities for joe biden. And i think the longer he drags this out, charles, the longer it is sort of a hohum when the announcement finally comes. It is sort of like it was so tortured this cant be an easy choice for him and what does that tell you . Charles yeah. It will change the news cycle for a few days. He enjoys these news cycles where it is always focused on President Trump. Hey, lets talk about whats happening in d. C. Right now. After 10 failed stimulus talks with democrats the president , he took matters into his own hands. He signed four executive orders that will extend jobless benefits 400 a week, defer payroll taxes. For workers earning less than 100,000 a year until the end of the year. Defer student loans. Also extend the federal eviction moratorium. Liz, you know, President Trump i think he did what he had to do under these circumstances and ive been pretty critical of both Political Parties on this they had plenty of time to get their act together and nothing happens. I totally applaud him. Look, voters took a chance on a nonpole tish shun when they voted for donald trump. The reason was they were so tired of congress doing nothing, getting stuck in these titfortat stalemates where nothing gets done and thats what happened here. Democrats dont want the economy to get the boost of another stimulus program. They attached ault kinds of very unpopular measures to it, guesting rid of voter i. D. And getting rid of signature verification, things like that that were really not acceptable to republicans. They were not in my view negotiating in good faith. Charles right. Good for donald trump because nancy pelosi can dismiss 400 extra a week as an illusion just as she dissed 1000dollar bonuses as crumbs a couple years ago. But guess what . For working families they need this. I think he did the right thing. Charles yeah. Thats why she was also talking up the benefits of food stamps. Kevin what is next for the democrats on this . Will this get us to a deal sooner . I hope so. I mean to lizs point i think the democrats have been negotiating in good faith. Im hopeful the president will take a more active role. You know, if he spent less time on the golf course and actually talking to his counterparts in congress to get something done and not deputizing the chief of staff or the treasury secretary we would arrive at a deal. He have is the art of the deal kind of guy, wrote the book, lets bring him to the table, see concrete negotiations take place. The democrats passed a 3 trilliondollar package two months ago. We put out our priorities. Charles yeah. See where the republicans come down. I think there is a lot of disunit in the Republican Party over what they actually want. Democrats are united on this . Charles yeah theyre united but starting at 3. 4 trillion is sort of disingenuous in real scheme of things. There is negotiating 101 like, and then there is negotiation, negotiating rather, kevin against a backdrop of the pandemic. You know, that is the part that bothers me. Listen, it has got to change. Anyway President Trump made his salvo into this. He laid out these executive orders. Maybe congress will get their act together. Liz, kevin. Thank you both very much. Folks in the wake of the pandemic the lawsuits have already started. A family of four workers who died from a coronavirus outbreak at tyson foods plant in iowa theyre suing the company. The lawsuit alleges that tyson put employees at risk by downplaying concerns about the out break and failing to implement Safety Measures and allow sick employees to keep working. Estates of three other employees that died filed a similar lawsuit. Tyson is disputing all allegations. Steve easterbrook of mcdonalds was fired last year over the relationship with employee. That the beloved leader theyre alleging covered up relationships with three other employees an destroyed evidence. Im not sure if he ate it or not but they say he destroyed evidence. New york City Residents are leaving in droves. Are they gone for good . Border wars are brewing along states. Is it really fair to tax commuters working from home in a different state. I live in new jersey. Should i pay new york taxes . Well be right back. I had saved up some money and then found the home of my dreams. But my home of my dreams needed some work sofi was the first lender that even offered a personal loan. I didnt even know that was an option. The personal loan let us renovate our Single Family house into a multiunit home. And i get to live in this Beautiful House with this beautiful kitchen and its all thanks to sofi. 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. Charles new york city once considered to be the greatest city to live and work but not anymore. First it was the pandemic that had new yorkers fleeing the big apple. Now it is crime, violence, rampant homelessness. Fox news correspondent Aishah Hasnie is here with more. Reporter hi, charles. New york city is known for the bright lights, big dreams, broadway but take a look, a lot of folks dont even recognize the city anymore and some are leaving. They blame crime, gun violence spiked this summer. Shootings up 177 this july compared to last july. Then we saw people doing drugs in broad daylight in midtown. They were leaving used needles on the sidewalk and in those planners. Now complaints are city housing hundreds of homeless. Some are drug addicts and sex offenders inside three Upper West Side hotels. Residents complained they were not informed. Some want to stay, fight back, at that take back their neighborhoods. Others are getting out of here. Things became less and less safe and ive never once in six 1 2 years before this felt uncomfortable or even remotely afraid. For me to stay here would be a struggle, a constant fear. Reporter that was hairstylist jody usher. She said she is moving to florida because she was harassed twice on the subway after the salons reopened. She was so excited to get back to work. And now she has left the city. The mayor says he is hopeful that some of these anticrime strategies, they will turn things around but he is not begging anybody to stay. He says that anyone who leaves will be replaced. Charles . Charles all right. Ashiah, really a shame. Ive been in new york since 74 and it is really getting bad. Thank you very much, appreciate it. You know, folks as most of us continue to work from home, there is a new trend popping up. States are taxing remote workers. Massachusettss governor says he will continue to tax residents in New Hampshire who normally commute to his state to work even those these people, they are not leaving their homes. There is also reports new york is doing the same thing. No wonder americans continue to flee these hightaxed states. I want to bring in ashley webster. Ashley, this is kind of nuts and i think it will get uglier, the worst case, bestcase scenario most part well working from home throughout rest of this year and a lot of people will continue working from home seeing how productive it is for them. Ashley you have not stepped foot, say you worked in connecticut, you havent stepped foot in new york. They will still come after you. Connecticut will give you a tax credit to a limit or against those new york taxes but it happens a lot and especially as you pointed out, charles, in the hightaxed areas. Now there are 13 states who have put in a moratorium saying if you work remotely from here, were not going to tax you, were not going to do that. You pay the taxes in your permanent home base wherever that may be but how long will that exemption last . As you pointed out massachusetts aggressively going after New Hampshire. The problem is because so many states have so many different rules and regulations it gets very complicated. So if you cross the country and decide to work from home at a relatives house in some state out in the west coast, watch out, you may indeed end up having to file taxes as a nonresident in that state while also being taxed in your home, in your employers home state. So watch out. Some people will pay more. Some, believe it or not will pay less. If you move to florida i guess, no state income tax here. Some will come out about the same. I want to finish on this, charles. That new york going aggressively after people, reportedly includes volunteers and temp workers who came to the city to help out. How about that . Charles [laughter]. No good deed goes unpunished at least not in new york state. Ashley exactly. Charles ashley webster. Thank you very much much. The government doling out five million ppp loans worth 500 billion. There is still 100 billion in the pot. Many Small Business owners across the country say they need more help and some never got help in the first place. We have got a great business expert. Small business expert, he will tell us what happens next. Well be right back. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Shingles doesnt care. I logged 10,000 steps today. Shingles doesnt care. I get as much fresh air as possible. 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With 135 billion left in the pot, carranza says the program should continue and changes should be made to address Small Businesses current needs. Whether it is operating costs, whether it is continued payroll, also they have provided coverage for their employee benefits. So if more of that is being realized in this next ppp program, i believe the Small Businesses will again continue to be stablized. As a matter of fact, get back to where they were prepandemic, which was a strong trajectory. Reporter more than 5. 2 million, million loans approved. That means 525 billion being pushed through this program. Carranza believes it sets the stage for a big third quarter. I believe the Small Businesses will again continue to be stablized. As a matter of fact, get back to where they were prepandemic, which was a strong trajectory. Reporter now the fate of the ppp program rests in the hands of democrats as well as the administration. And if a deal can be worked out. Well see, charles. Charles edward, thank you very much. Joining me now Small Business expert gene marks. Gene, you were very helpful with us as this process was going on and so we wanted to bring you in, sort of get your thoughts and and update here. I think it goes without a doubt any question it helped, to what degree i had helped, and what do you make of the fact that still so many Small Businesses say they didnt even get a bite at the apple while big multimillion companies, even billionaires got checks . Yeah, charles, there were definitely a lot of challenges to the ppp program. I do agree it was a very big success. I think for the very smallest of operators, if youre a Small Business, only couple of employees or an independent contractor you might have been left out of the process. There is still money out there for you. The Economic Injury disaster loans on the sba website, they dont have a limit to size you can be. You can be very small. Your state and local governments, in philadelphia where i live, theres a Small Business program that is it going on right now offering grants. A lot of stays and cities are doing that. Some corporations are offering it as well, charles. So theyre offering grant money. Facebook, verizon, jpmorgan chase. I have a whole list of resources. If any of you watch having a very Small Business, looking for it, reach me out on twitter, genemarks. I will be happy to zare that with you. Charles speaking of twitter, we actually had a tweet, one person says he is buying a business and he wants to make sure there are no outstanding ppp loans. I think that is a fantastic question. How does someone safeguard against that . It is really a very good question. Listen if youre buying a business, part of your Due Diligence youre getting the Financial Statements and tax returns of the business that you are buying so, even if one has not been recently prepared you need to be asking for that. So you know, the seller of the business has got to hire a good cpa, a good Certified Public Accountant and if there is a loan on there, ppp or otherwise, it will be disclosed. You can do a a ucc search. Uniform commercial code. If any assets or loans are collateralized, banks are required to report that. Get a financial statement. That tells you if there are loans outstanding, the best resource. Charles one growing question, and it will really mushroom is all about forgiveness. Weve seen plans proposed forgiving loans under two million to 150,000. Right. Charles when will we know more about forgiveness . And by the way how hard will it be . Because early on a lot of folks said the the paperwork was too , to cumbersome to get the forms through. Right now its a monstrosity. It is creating so much work for accountants and lawyers to do the calculations why im hoping, i feel it is very, very probable, the next stimulus bill if it goes through will have provisions for forgiveness. If you have a loan under 150,000, if the stimulus bill passes all you have to do is represent that you had forgivable expenses. You will not even have to fill out an application. If you have a loan under 2 million you will still have to go through the application process but you wont have to provide any documentation. That is really hoping that stimulus bill goes through. If not, there is a long calculation you have to go through. There are resources out there where you can get loan calculators to help you on the treasury website but, gee, charles, for Small Business it is so bureaucratic, such a pain to do. Were hoping the stimulus bill goes through. Charles i somewhere where these loans are being sold, like some banks are selling these loans. Yeah. Charles anytime i hear about banks selling each other loans i immediately start to think about what triggered the great recession. Should we be concerned that a bank made these loans wouldnt want to hold on to them . Yeah. I dont think that youre incorrect there. It is certainly a red flag when banks are selling these loans but if theyre allowed to do that they will. If the bank is selling a loan, your loan whether ppp or not they will be required to disclose that to their customers. So this is federallybacked loan. So you have to pay real close attention to any communications youre getting from your bank. The biggest hassle, you will have to deal with a new linder when it comes to forgiveness, if you have to apply for forgiveness. It is an issue, definitely is, i hope a lot of banks not going to do it. Knowing what i know about banks some probably will. Charles yeah. Hey, gene, you are absolutely the best when it comes to this kind of stuff and we always appreciate you come in and take these questions. Well need your help sooner rather than later, because to your point im sure there will be a lot more news when it comes to ppp. Gene marks, thank you very much. Charles, take care. Charles all eyes on the race for the vaccine to bring normally back to our lives but what impact will a Covid Vaccine have on the stock market . One top banker shares why the rally within 100 days of the election will signal who the winner will be and not what the main stream media is saying 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 all right, folks, with just 80 days away, a little over 80 days away from the election. There is a lot of debate where the markets and the overall economy will go from here. All three major indices are close to being positive for the year. Remember what happened in march. What happens with the biden presidency . Joining me Coamerica Bank chief Investment Officer john lynch. Thanks for joining us. I had a guest last week, someone who i respect, brian belski, he thought the market rally was telling us that the market thinks that President Trump will be reelected. Which is sort of 70 sit were hearing from the Mainstream Media and the financial media. Lay out for us what the market may be saying and implications for either out come. Sure, thank you. Brian always provides great analysis i would like to add. Looking what the market is telling us, 90 days between now and the election, were 85 days, markets going up into those, or by november 3rd would say incumbent party will be victorious. Market is down, typically the incumbent party is losing. What were seeing now is kind of curious. I dont know to the degree that the market, they have been very successful, one hundred success rate since 1984 but we have a curb just dynamic obviously with the pandemic and extra fiscal stimulus policies but i believe the actions taken this weekend should be helpful to the Trump Administration if theyre trying to gain traction relative to the polls. Market clearly is stating Something Different to the polls. Charles to that point, this executive action, im not sure what congress was thinking about, either party. I think its crazy to get back to your typical political posturing at a time like this. Weve had amazing rebound in this economy but there is still a lot of work to go. Has comerica handicapped or fleshed out the where you think this economy is going to be this quarter, next quarter and beyond . Absolutely, absolutely. Were watching all what is happening with the Federal Reserve what congress has been doing thus far. When you see stimulus basically equal to economic output in the second quarter, that was a phenomenal response from fiscal policymakers but in consultation with our chief economist robert dye, he and i spent a lot of time looking at this stuff and we just think with the liquidity surge, that is obviously played on the dollar, weighed on the dollar and i think that is why youre starting to see energy, materials, industrials and industrials send to be highly correlated to the s p 500. Youre starting to see that value bent come through. Charles let me ask you more about this broadening out of the market rally. I was impressed with last week in particular as tech and Communication Services waned. Industrials to your point, financials, is this the real deal . Is this something we should be celebrating . I think it is great news. Yes, absolutely. What weve seen, charles, has been a massive liquidity driven rally and ive always been concerned about a market that gets giddy about liquidity and i always want to make sure the fundamentals are justifying whats happening in the market. Were probably three or four Percentage Points ahead what i would consider fair value but nonetheless we cant ignore the fact youre starting to see a broadening of participation and that weaker dollar actually helps that value play. That should help i believe shift participation in the average stock. Charles i have got just 30 seconds but i would like your thoughts on the impact of a Covid Vaccine. Some are saying it could turn this whole thing upside down . Yeah. It will be very curious because you know, dynamics that were all getting used to but to the degree that you know, it is successful, certainly a wellbid play for the health carry sector but, you know, implementation is going to be an issue. You may get kind of a surge, then a bit of a pullback on some sort of vaccine news because i think it will take a while to fully permeate throughout the society. Charles right. John, thank you very much. Folks, well be right back. Thank you. On your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. 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 well, the pandemic has impacted all facets of life including how we use our iphones. Have you tried to use the facial recognition to open your phone with a mask on . Well, you know it just doesnt work. New york, well, new yorks Mass Transit Agency asked apple to come up with a better way for people to unlock their iphones without having to take off their mask. The mta chairman says riders have been removing their masks to unlock their phones, therefore potentially spreading the virus. Apple says it has made some updates but apparently not enough just yet. You know, my wife and i were talking over the weekend about senator Bernie Sanders and his goal of taking 42 billion from amazon Ceo Jeff Bezos as part of the make billionaires pay act. Bezoss net worth climbed during this pandemic and we both marvelled at his story. Keep in mind, folks, bezos was a private equity guy. He read about online commerce growing 23,000 and said i want a piece of the action. He began with a list of 20 products and narrowed it down to five including cds, hardware, software, videos, also books. He started amazon with 250,000 and said okay, i will focus initially on books and as they say, the rest is history. I often talk about the importance of chasing fundamentals as an investor, so you can own or buy stocks like amazon even when it seems like their shares have run up too far, too fast. Thats what brings me to etsy which got a share price target upgrade this morning, 160 from 90 from a major firm. I expect more firms will follow. Last week the company, they posted revenues of 137 increase, earnings 100 better than [ inaudible ]. Management up, revenue guidance for the Current Quarter over 400 million. The street was at 279 million. Meanwhile, earnings consensus continues to explode higher. Three months ago wall street was looking for a nickel for this quarter, a nickel. Now they are looking for 50 cents. Next years consensus is 2. 90 days ago it was a lot less than that, about 90 cents. Im not saying etsy is the next amazon. I am saying this is a Different Company and i think the stock has a ton more room to the upside. Joining me to discuss this and chasing fundamentals, key Adviser Group ceo eddie gabhour. I see now and then a stock i thought had a run, was over with, sold it, stopped watching it and next i know its up 1,000 . Im not kidding. 1,000 . Its not uncommon. What i failed to do and i learned through the years, its not about the share price. Its about whats happening in the company that makes the share price expensive or overvalued. Youre exactly right. Look, we tell investors to focus on the business itself, its demand, especially in the market like were in right now. Theres lots of stocks that people are too focused on the share price. When you look at etsy, this company is built for this new economy that we are in because of covid. They have a wonderful business model. My wife uses it frequently. You can buy anything from etsy online. One of the benefits i think in this economy, we know how Small Businesses have been hurt quite a bit. When my wife doesnt buy something on etsy she can find a local business within our area that she can buy the product she wants, whether its jewelry, clothing, whatever it may be, from that business. I think in this environment, a stock like etsy in my opinion for the right investor with the right risk tolerance has tremendous upside. I agree with you. Charles all right. Lets talk about some upgrades this morning. Apple got another upgrade, 515 from 475 although the analyst, dan ives, said it could go to 600. Carvana, 250 from 127. The reason i point that out, they essentially more than doubled their estimate. Nvidia got another upgrade to 520 at bank of america. Just to me it underscores the point for investors watching out there, i know it gets worrisome if you missed a play or even if you hold these stocks and say should i sell, should i sell, should i sell i think wall street is almost always late when it comes to these opportunities. I agree. Look, we have talked about this before, charles. The market is forwardlooking. Thats what you are seeing right now. You are seeing, thats why you are seeing some of these Recovery Companies start to bounce back. The stock market knows before everyone else. Its easy to make the call now after a stock has run up 100 that now you want to upgrade it. It would have been nice to know 100 ago. Charles yeah. Although i love it. Know what, we take advantage of it, we can get position, we can get clients position, then wall street takes it up another notch. I love the way its set up now. I hope people arent overpaying for the services. Lets talk about whats really happening in tech. Its not big highflying names we know about. The cloud names, though, that have done extraordinarily well. Are you watching any of these . Are any of them on your radar for a potential buy on weakness here . Yeah, i am, actually. I think you could see a little more weakness as you are starting to see some of the money flow into some of the recovery stocks that are trying to bounce back that are still down year to date. A company like docusign. To your point earlier in your show, the way people are doing business, its changed. I argue that for some industries its changing forever. Docusign is a company again that i believe is going to continue to grow because of the way people do business. A lot of real estate transactions now are all being done remote and through docusign. Charles yeah. I got to tell you, theres a list. Make yourself a list because some of these names are delicious. I mean, square, this keeps coming down, im in. Eddie, thank you very much. Appreciate it. All right, liz. You cant say i didnt do anything for you today. Im starting the week off giving you the dow up 340 points. Liz i know. Well, we just hit the highs of the session. Thank you, charles. Happy monday. Good to see you. You know what, we are looking, look, heres why, you know this, heres why the dow is strong. They werent hot with techhungry investors but they sure are now. Cyclicals sizzling with the industrial bigwigs, boeing and caterpillar driving the dow now into the green by 342 points. But yeah, you see the techheavy nasdaq down about 36 points as the new tech cold war intensifies between the u. S. And china. China has volleyed new sanctions against prominent hong kong democracy defenders. More big