Transcripts For FBC Making 20240703

As the world watches in horror most brazen attack in israels history. We brace for israel to defend herself. At last count more than 900 israelis have been killed, vast majority have been civilians. Scores others taken hostage. Talk about the geopolitical fallout. Get the fallout from israel itself. Were rate waiting to hear from israeli Prime Minister netanyahu. This will be long and difficult. There are voices warning israel to make reaction measured or calling sees fire or dont get new deeper war. I want to bring in Hudson Institute senior fellow, rebeccah heinrichs. I dont think anyone could have imagined it was possible certainly 72 hours ago. No, if you look at per population this would be the equivalent of the United States losing tens of thousands of americans. It is horrific. Hamas very intentionally sought to of course target civilians but also to film it so that gratuitous horrible pain for these families. Theyre doing it on purpose. What theyre trying to do is control the narrative so when israel does respond the way they ought to respond to take out hamas across the border that you know they would like to just have the narrative be that israel is too strong. Of course that is simply not true. Israels absolutely right to take out these Hamas Terrorists and infrastructure that supports them and they have been very tolerant of this kind of low level behavior but this is something that is next level. It is a game changer, charles. Charles to your point just an hour ago, mamas threatened to be killing hostages. How would that change the situation . Unimaginable. There are american hostages reportedly that are there as well. We have not heard from the president of the United States on that point. There are at least nine reportedly americans who passed away in this horrific terrorist attack. These are americans. These are our own countrymen. We have not heard from the president of the United States. If that is true the United States must do more than say we support israel. The United States should deploy the carrier there to show that we have a deterrence there for other kinds of attacks but the United States must do more than just simply say we support israel. We have to provide them real, no kidding power support to get these hostages out and exact a price against hamas. Charles i want to remind the audience, were waiting any moment to hear from Benjamin Netanyahu. I want to ask you about again the white house. You just mentioned they put a lid on it 11 00 today. Amazing to me considering our relationship and importance of it, the strength of our relationship with israel, and how horrific this attack has been shouldnt we have heard from the commanderinchief by now . Oh absolutely. As we should be getting more updates regularly. One of the things weve been seeing there is very distressing there are two corrections on x, formerly twitter, official accounts from the u. S. Government essentially said there should be deescalation or there should be a ceasefire. Those tweets were deleted. New ones were put up essentially saying israel has the right to defend itself. This administration is flailing. They do not have a coherent message or a leader to say what the United States interests is. We have a close ally in the region. Imagine how bad this is. They cant get away it. People should demand answers from their leaders. Charles you talk about hamas, their attempt to control the narrative. One thing for sure theyre concerned about normalization of relationships between saudi arabia and israel. Israel, everyone is sort of looking at saudi arabia now to see what their response will be. What do you think it will be . Well, theyre really in a bind now. Of course they supported the palestinian cause. So there needs to be a lot of effort at this point to make sure that the saudis do not Say Something unnecessarily they dont need to say at this point. Im really concerned, this is the motive why the iranians would clearly be supportive of this particular effort. The administration is saying there is no evidence that iran supported hamas. Iran is the head drafting gone. They have been funneling weapons, training for years since the 80s, the regime supported antiisraeli militant group. For the administration to say there is no evidence iran supported hamas. Do not turn the hose on and tell us it is raining. I think theyre making a lot of mistakes. The other side too, i think youve been seething over republicans like senator tuberville, the notion of Us Withdrawing from global conflicts, paying for wars in other nations. This is the moment to push back on that whole temp right there . I do. I think the United States needs to have strong leadership abroad. It does not mean we need to do everything at all times but to sort of like adopt this pat buchanan idea we withdraw from the world stage and throw up a drawbridge and simply stay inside. The world will become so much more dangerous americans abroad, for our interests, for trade. We need allies. We need allies, charles, as we deter these authoritarian countries, china, russia, iran, north korea who are increasingly brazenly collaborating with each other to undermine u. S. Interests. This should be the nail in the coffin for that kind of narrative for the nights to withdraw. Charles before i let you go, rebeccah, you brought up the bad actors, you think of politics at this particular point, we have an election next year. China has been belligerent about taiwan, russia invaded ukraine, north korea, no one pays attention but theyre probably more of a threat now than ever before, how important should this be for americans as they go into the voting booth next year . Oh, it is hugely important. Do i feel safer as an american with four years of joe biden. The answer is unquiverly absolutely not. The world is obviously more dangerous. You can draw a direct line from the precipitous withdrawal from afghanistan to where we are today. Our allies dont know where we stand. Our ads versaris are increasingly emboldened. Lots of weapons from afghanistan ended up in iran. There is evidence of that. Iranian regime got intelligence from former Afghan Soldiers to who worked for the United States and paid them to come help the iranians. We are in this situation because his bad decisions and cowardice, and what the United States is doing. Charles we definitely wont hear a explanation today. Rebekah, thank you very much. We always appreciate it. My next guest posted several compelling tweets as israel was attacked by Hamas Terrorists. Three of my sons in law have been called up to active duty. My youngest son, tank commander will be one of the First Armored units into gaza if indeed the idf goes n all three sons are married with a total of nine children, our grandchildren. The youngest is two months old. My children have fought in wars before but this one feels very different. Hamas protect our warriors and all our hostages. International lawyer living in i rail, chairman of the Republican Party in israel, marc zell. A powerful tweet. My oldest granddaughter turned 11 on saturday. I feel what you feel. Walk us through the last 73 hours of horror in israel . Charles, thanks for taking the time to speak with me today. The 73 hours since the sabbath, 6 30 in the morning our time on saturday morning our time a little before midnight by you, all of a sudden my phone lit up with all kinds of alarms about rockets flying all over southern and central israel, something that we, were used, but not this quantity. I immediately think this is looks like an artillery barrage in advance of an invasion. Sure enough that is what happened. We really didnt understand until almost 24 hours, even now, how terrible these events were on unraveling. Charles right. Thousands, idf says 800 to 1000 terrorists came in from gaza through our border, how that happened no one knows but they came in. They took over 22, at least 22 villages in israel along the gaza border. Looked for residents hiding in their bomb shelter and in their safe rooms. Found them. Pulled them out, executed them. There was a music festival, a nate festival of 3,000 young people nearby. They went into the music festival, mode down hundreds of music lovers who were there in nature to enjoy the holiday. It was the last day of our high holiday period here. Then in the, days, excuse me, the hours that came afterwards, we were treated to this barrage of, montage of unbelievable photographs and videos of the hostages, over 100 taken into gaza. Nothing like this has ever happened in my 3years living here in israel. My israeliborn friends, they dont remember anything like this since 1948 war of independence. Charles marc, i only have 30 seconds but if you want to go a little longer thats fine with me because we appreciate what youre doing here. Just a message for americans who may not understand the gravity of this . Well, first of all this, this war, were in a war now is about, is about the, the west will deal with terror of the most evil kind and how we need to protect our borders. I know americans are also worried about these very things but we, my message to america, and to americans today is, we value your friendship, we share with you the values a of democracy and freedom and faith in the holy one. We ask you and thank you your continued support. Were getting thousands of messages, all of us from all over the world, all over the United States expressing their support for israel today. These, this support is invaluable. It means everything to each of us and to our soldiers and like my sons who are now in harms way or shortly will be as we, carry out this mission to obliterate hamas and if necessary, hezbollah and remove this evil from our midst. Charles marc, god bless you and your family and may peace come to israel sooner rather than later. Thank you so much. Thank you, charles. God bless you. Charles folks, well be right back. This is american infrastructure. Megawatts of power, rails and open road, and essential services of every kind. All running on countless invisible networks, making it a prime target for cyberattacks. But the same aipowered security that protects all of google also defends the systems running americas infrastructure. For these services. For the 336 million of us living here. This isnt just freight. These arent just shipments. Theyre promises. Promises of all shapes and sizes. Each, with a time and a place theyve been promised to be. 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Go back to something very similar, the same thing, yom kippur, the same day the market was down, down 37 a year later. In fact, in fact, it took 1576 trading days for the market to recoup all of its losses. If this war broadens out, what happened in recent history may be irrelevant. We may have to go back. Some of the other things that happened from an economic point of view. Crude oil, which we all kept and eye on today. Crude oil was 29 a barrel when this thing happened. Over the next 7 years went to 150 a barrel. Within that time frame we had two recessions, two recessions. Keep that in mind. You talk about investments. People say where do you put money . This is Something Like gold really made a big, big move here. Less than 6 a 650 an ounce. This is by january of 1980. I want to bring in lyn alden strategy founder, lyn alden. Lets start with the obvious thing, crude oil making a pretty good move. It was much higher last week. Your thoughts. I think investors have to be careful chasing nearterm war premiums, generally speaking, and ive been on your program talking about this before, the structural bullish case for oil and the rest of the Energy Complex is very strong and the problem in these types of environments is when you have a tight supply side there is all sorts of potential disruptions that are not necessarily foreseeable but only take as small percentage of them to materialize. Just our, kind of pushing things to the upside really quickly. While i wouldnt make extreme price predictions i generally think that the risk leads to the upside more than the downside. Charles how do you explain last week, that swoon . I mean i think were like, wti, maybe 94, 95, all of sudden it just imploded. I was thinking maybe a recession signal. How did it come down so quickly last week . Sometimes markets just get overbought or oversold. Prior to that we had a pretty sharp runup. Were getting issues when you have the dollar strengthening, when you have yields going up, when you have oil going up you risk of having various market events. When you think of the oil price in nondollar currencies it is up even more than it seems given how high the dollar is that can cause sorts of demand destruction in a countries. But i think you just have to keep focusing on the fundamental supply and demand as well as unit of count youre measuring in which in this case is the dollar. Charles lynn, i think it is easy to speculate this mitigated the chance of another showdown over a shutdown. Well see increased aid for ukraine and israel. I point that out because were already seeing the second highest issuance of treasurys in the history. Many say this is one of reasons that it keeps pushing yields up. You follow the market very closely. Where do you see treasury yields going particularly as we keep spending money on things, our government just keeps spending money . It will partially come down how how the treasury and the fed handle this. The Federal Reserve has a reverse repo that can fund the tbill issuance. The problem is the longer duration issue chance. Going forward although bonds are oversold, yields are kind of pretty high here it can tempt buyers in. I would let the dust settle a little bit before we have a strong opinion. I think were generally going to be in a environment of higher yields and the ongoing large issuance, deficit spending, treasury issuance is a structural inflationary backdrop here in the 2020s in my opinion that was not here in the prior decade and so when we kind of think both oil markets from a supply side and a demand side these ongoing large fiscal deficits and money supply creation, that fuels the demand side for these things. This is type of inflationary stimulating force. We run into constraints on the supply side. That combination can lead into multiyear bull markets in energy and commodity prices. We appreciate your expertise, lyn, particularly today. Thank you very much. Thank you very much. Folks, coming up, Gary Kaltbaum was almost willing to say which have seen a bottom, it depends but he has really, listen, gary is a big defender of israel. He is a very passionate guy. He also knows how to make money. Well put all of that together later in the show. I have a question for my next guest, whatever happened to the recession . E. J. Antoni will actually join me in the studio. Well break down some things the economic report on friday no one is talking about but everyone should. Well be right back. The first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. We just got an order from dinosaur, colorado. Start an easy to build, powerful website for free with a partner that always puts you first. Start for free at godaddy. Com charles you heard the word strong used a whole lot on friday to describe the jobs number. I disagree. There is another report that to certainly proves maybe the consumer living on borrowed time. Kelly ogrady has more. Reporter thank you, charles. It looks like the feds rate hikes are hitting home because we saw unexpected declines in consumer borrowing. Now the decline in nonreinvolving that would be student, auto loans was 30 billiondollar swing. That is 9 clip. Consumer credit was down 3. 8 annually. It looks like we may have a tale of two types of credit but on the other hand revolving credit surged 14. 7 billion or 13. 9 . Unfortunately that credit cops at a huge financial cost. I mean look at the jumps in these Interest Rates. Youve got three points here, three whole points on car loans. Then you look at credit card. It jumped from 15. 13 in the Second Quarter of last year to 21. 19 now while that may be painful sew Many Americans are living paycheck to paycheck they have no choice but to use credit card. According to payments intelligence, 62 say theyre living paycheck to paycheck. You see the number of reasons. Folks im worried about though, that is right here . At least theyre honest, 66 admit it is a problem because of nonessential spending. Charles, perhaps that explains why were still seeing the travel industry boom. I want to show you this. Not just consumers looking at monster debt and interest payments. The government is soon going to be spending 20 of our tax dollars just on the interest on their debt. The last time by the way we came close to that was in the late 80s and early 90s. Now, oops, there we go, the thing though is like of course this is disheartening but to quote the late carla peller, wheres the recession, charles . October 17th of last year, this headline came out with bloomberg. Economists said there was 100 chance of a recession within a year. Charles, im still waiting. We have what, nine days until that deadline is up . Well see. Back to you. Charles well see, kelly, great stuff, thank you very much. I want to bring in crossmark global cio bob doll. Bob, before we get into the whole nittygritty of the economy and the markets your thoughts of what we saw over in gaza and the declaration of war . Other than sad, boy, this changes the landscape. Oil prices will drift higher, already have started. Uncertainty out there, because there is no bully on the playground. No one to kind of run the table on foreign policy. The u. S. Is not the leader they used to be. Defense spending will could up some. It is not a pretty game were looking at. Charles youve been cautious about this market for a while. My question to you, we saw a big reversal friday. Today we see a big reversal. It could be comments of a couple of fed officials but this market still has shown some resolve, hasnt it . It sure has, no question about it. Although the move from 4600 at the peak of july 31st, to almost 4200 last week was pretty painful for a lot of people. Weve bounce ad bit here. I think there will be a lot of toing and froing, more interested in 4200 than 46 for sure. We have to get through the earnings issues of the next few quarters whether we have a economic slowdown of consequence or a recession. Charles you know a lot of the confusion still seems were watching the bond market, right . I can tell you as a stock guy i never woke up and first thing i looked at are yields. This is like a new world for me. Yes. Charles this is the greatest treasury bear market of all time. I dont think people realize that. It is nuts how bad it has been. What is the message youre getting from this . Is this a new paradigm, are we in a brand new secular bull markets for bonds . First of all bonds are closed today. That is why stocks are going up. Theyre not going down getting hit. That aside, as you know if you buy a 10year treasury on january 1st, there is 20 chance of you lose money calendar year, two years in a throw, 2 chance, three years in a row it never happened until now, 250 years of history. Now Interest Rates, charles, have not gone from low to high. They have gone from near zero to kind of middle of the road. The problem was we let Interest Rates go too low too long. Thats what set up the problems we face today. Charles so can this, i saw some great work on this, charts going back 100 years. This will be the average where we are right now to your point, how, can the stock market thrive under this new old paradigm . Well it can thrive at a pe ratio that makes sense which is probably a little lower than here. The consensus still is. Jackie inflation is coming down, feds done or almost done and you know Interest Rates will come back down. Im not so sure. I think were going to live in an Interest Rate world that is higher than what were used to over the last decade or so still not high relative to longterm history but a three to four handle or four to five handle on a 10year treasury, thats different from where weve been. Charles it certainly is. Bob, thank you so much, we appreciate your expertise and your wisdom all the time. I want to bring in Heritage Foundation public economist e. J. Antoni. Youre too young to know carla peller. There was a Famous Commercial was, wheres the beef . The big question now where is the recession, where is the recession . Charles, if you poll the American People half of them say it is already here because Family Finances deteriorated as consequence of federal finances getting completely out of control. I loaf that point. I make that point with a lot of guests. On friday i had that conversation a number of times. This nber who officially time stamp it becomes two years late, it doesnt really make any consequence. It is a parlor game for economists but in real life though we do see spending holding up. Are People Living on borrowed time . Those numbers kelly showed us were scary. On borrowed time is right, charles. People increasingly rely on debt. Look at pce report, inflation adjusted income didnt rise at all, spending did. What made up difference . Decrease in savings. People are dipping into savings, theyre going into debt. This is not a sustainable path. This is not how you grow the economy. Charles our savings rate is 2 3 less what it should be for emergencies. I just dont know. You know, weve all, to your point become so debt driven, so used to living on this borrowed time this debt, low Interest Rates to bobs point, it feels like something bad could be around the corner, something ominous around the corner . Oh, absolutely. I dont think there is any way that you can spend, borrow and print trillions upon trillions of dollars and not expect negative consequences. Well essentially been living on two decades of borrowed time if i can reuse that phrase again with the low Interest Rates as you said. Charles so what happens from here . Because you have a school of thought that this modern monetary theory that you can print forever, you can print unlimited quantities of money. Im pretty sure what President Biden was trying to do. It backfired t was equate to going to the bar, first few drinks you feel pretty good but you hang out too long this is 4 00 in the morning we have a heck of a hangover, we dont know where the keys are. What does the biden and janet yellen want to do hair of the dog, more spending more borrowing. I dont understand how any of these people dont see what is coming doesnt the pike. Charles janet yellen said there is no market dysfunction reflected in the bond route. You can argue going back 100 years is average. The develop lowsty of move in bond yields is saying something, it is a warning we should heed, right . Lets go back 100 years. Lets play this game. Did we have the debt to wealth ratio or debttogdp ratio we do today . Absolutely not. 5 interest is not a big deal when you have a very low debt load relative to your income. That is not what we have today. Charles what is yellen missing . Shes, you know she is asked to considered to be brilliant because youre in the administration you have to say these sort of things or there is really a different economic world where you can bend the rules of arithmetic. Only an intellectual can come to the conclusion janet yellen does. Let me say that. Charles she hangs out they do come up with their own unique type of things. Back to your initial point, in the real world, i dont think they spend enough time with real world folks their policies are crushing the average american. Absolutely. If you look at the typical American Family theyre about 7,000 worse off today compared to when biden took office. That is the result of not only higher Interest Rates increasing borrowing costs but prices rising faster than next. If you put the things together, took the typical American Family, knocked off a whole months pay on the annual salary. That is devastating. When youre an elite like janet yellen or most of people in the Biden Administration youre insulated from croon sequences of your own actions. Charles they should go to a supermarket a field trip, all go together. Ej, great stuff. We appreciate it. Folks, well be right back. Explore endless design possibilities. To find your personal style. Endless hardie® siding colors. Textures and styles. Its possible. With james hardie™. Is it possible to fall in love with your home. Before you even step inside . Discover the Magnolia Home james hardie collection. Available now in siding colors, styles and textures. 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Now heres the rub, only three sectors were higher and i bet you know what they were. Yeah, it was large cap growth, mostly technology, again putting it in a very impressive performance. I want to bring in kaltbaum capital management, fox news contributor, gary k. Hey, gary, last week, what you had was core growth and large growth and large core up. Again you know, the market, it climbed off the canvas on friday. Climbed off the canvas again today. Doesnt that Say Something when that starts to happen . Oh i think so and look i put out the note friday. I bought stock for the first time in i cant tell you how many weeks, if not months on friday. I thought the market was trying to carve out something, not because anythings great but if you look at how bad things like bank of america and financials, utilities, industrials, just about 70 of the market has just been mauled and smashed way, way down. I thought they finally cried uncle on the downside. And the other part of the equation i saw leadership the first time in a while. We gone days without year hi lies and thousands of yearly lows. I saw software, google, i bought into them. So far so good. Today speaks some volumes, you have every excuse to go down and we opened poorly but it is being brought up. Whether or not we go off to the races or not, i dont know, but i will take it a day at a time. I keep fingers crossed. So far so good. Charles the interesting thing, with this conversation how much resolve weve seen, as far as after bear market bottoms, this right now so far the worst in history. So on one hand we dont collapse but on the other hand its not robust. Is this just the thing we talked about, the internals, the breadth being so bad, and can breadth be so bad it is actually a buy signal . Breadth going from very bad to very good can be the buy signal. Charles im sorry, gary. Are we going to netanyahu right now . Gary, im sorry, my friend. Go right ahead. [speaking jewish language] charles okay. Israeli Prime Minister Benjamin Netanyahu delivering his comments right now. We expect he will also driver some deliver some in english. When he does we expect we will go back to him. Gary, are you still there . I am still here. Charles gary, let me ask you, youve been to israel so many times. Youre a proud american, proud jewish american. Just your thoughts as we go through this right now . Look israel is israel because of the people. Theyre the most marvlous people you ever meet, peace loving people get up every day trying to do better for themselves and their families. I have to tell you the first time i was in israel i had to go into bomb shelters five times in 10 days because of missiles being shot above us and the funny thing, the last time i was on, in a restaurant on the beach in israel, as the sirens went off, all the tourists ran into the bombshell, all the israelis stayed at the table, i said screw it. I sat there with them. What youre just seeing, it is unimaginable and the excusers are unimaginable also and i think this time it is going to be hammer down. To the north is terror, tote south is terror. On the other side is the mediterranean. Something has to be done and i think this, the next thing though i think is iran. I dont know how we continue what they did a part of this which it looks 100 . Just prayers for them and the families and victims and hopefully these hostages get back to their families. Its just very, very tough times. I spoke to my rabbi today. He is beside himself. He knows people that were killed there and it is just very, very tough to take, my friend. Charles it really, really is. It is a gut punch, gary, that the world has to see these things over and over again particularly again own the day that it happened. It is hard to talk markets and things like that but you know what . Exactly. Charles every time one of these terrorist actions happened particularly when we had a lot of these in america i was always kind of happy, for lack of a better word when the markets finished higher, just like these cowards cant beat us. Our markets wont sell off. We wont run, we wont hide. There is something about it that makes me feel like okay, you know what . You didnt win . Its the greatness and tenacity of people, its as simple as that. It is never give up, never take terrorists and let them continue what theyre doing and, look, for natalie, theyre going to get tough and they need to and the shame of it, when i see these parades out there, im just thinking to myself, do they realize they have raped women, they killed little kids, they separated families, taken hostages and theyre celebrating . That part is so depressing, i dont even know to go by the way a lot of this, if you ever travel the highways of israel, you see every Major Corporation at the top of buildings. The greatness of this country and hard work of this country created this magnificent place where, let me just say this, jews, christians, muslims, every denomination, every gender, every race, creed, color, they play together, live together, Work Together in harmony. These terrorists and extremists are trying to kill it. Guess what, they may hurt it for a day but they will not hurt it forever, but they will be back in great shape as we move forward. Charles amen, gary thank you very mak much. Thanks, charles. Th charles well be righeyt back so you know all you need for recovery. And you are . Im an investor. In invesco qqq, a fund that gives me access to. Nasdaq 100 innovations like. Wearable training optimization tech. Uh, how long are you. Im done. Im okay. This is Spring Semester at over 13,000 us school districts, which have become top targets for Ransomware Attacks. But theres never been a reported Ransomware Attack on a chromebook. Which is why thousands of schools like the fairfieldsuisun Unified School District switched to google tools for education. So they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. bobby my store and my Design Business . Were exploding. But my old internet, was not letting me run the show. So, we switched to Verizon Business internet. They have business grade internet, nationwide. vo make the switch. Its your business. Its your verizon. Charles welcome back, at times like this the investors look at the cbo index, volatility index, you know it as the vix. At one point it was up 4 today which you would expect. The socalled fear gauge, which is another name for it. It has not been extraordinarily. If anything it has been extraordinarily calm. What it stops being calm and loses its cool would investors follow . I want to bring in erin gibbs. You watch the vix a lot. Yeah. Charles down to 13, whatever, weve got end up there. Still in the grand scheme of things not erupting to the point where you would since panic . Right. Anything below 20 is essentially below panic. 20 to 30 is panic. And thats typically where we see it spike. It almost never gets above 30 and hasnt crossed 40 in its history. In the teens is happy, confident. Charles right, right. High teens, close to 20, means freire is out there. Youre like a 5050 push pull and above 20 where it is actually fearful. Charles the bond market on the other hand has been fearful. Yep. Charles yields gone you there the roof. Bonds are closed today, tls is open trading. Right. Charles ever so slightly higher this has been the central issue, what is going on with the bond market . What is it saying about us our economic stability, the market . I dont know i have gotten a clearcut answer on that, because it feels off script, completely off script. Right. Because on a day like this we see additional fear you see a lot of conflict you would expect it to trading much higher, because you would want the defense and being more cautious. We see really in this charles flight to safety kind of thing . Right. You see it go up because everybody wants safety. This is just saying how deep this bond market this bear bond market is that even Something Like a new conflict isnt pushing it higher. Isnt that amazing . I know like a month ago, bmo saying it is a screaming buy. Now theyre saying stay away, were not quite sure. In the last 30 days, really last 60 days, wall street went from this is low hanging fruit, buy it now, it is easy money, to maybe now not easy money. Does that mean the overall market, does it cast a shadow over all markets . Certainly as rates are getting higher absolutely. It is harder to pay your interest. It is harder to achieve growth. It is going to be a real headwind for the u. S. Economy if were looking at 5 in yields. Right. So yes, that is a headwind. We want to see those yields come down. We want to see recovery and so i think you need to be very cautious and really invest in quality while that is in the backdrop of the environment. I know youre looking at two things, two sectors oversold reversals, i want to ask you about technology because i think were right near that 200 day we went under the 200day moving average. Were about right there. If we break out i will say its come down a lot but it was up a significant amount. Right. Charles it feels like is that par for the course, that this is the kind of dip you buy . This is an easy place both in technology and airlines is a super easy bet because they get hammered during these types of conflicts but you got to look at it, it could be a shortterm trade. Put in your limits to lock in the gains, it happens, absolutely put in a stoploss it could get lower. Right. If youre willing to do a shortterm trade, there is solid chance of an opportunity. Charles 10 seconds Consumer Discretionary as well . Feelslike the consumer is tapped out. A lot of it has to do with travel. They like to get hit particularly when oil goes up it send as lot of Consumer Discretionary down. It is a shortterm trade. It is oversold. This makes it more short term today. It is something you can definitely trade, put in the limits, stop losses to cover your bases all right . Erin, thank you very much. We will. And, no matter how much i paid, it followed me everywhere. So i consolidated it into a lowrate personal loan from sofi. Get a personal loan with low fixed rates. Borrow up to 100k. And no fees required. Sofi. Get your money right. Rsv can severely affect the lungs and lower airways. But im protected with arexvy. Arexvy is a vaccine used to prevent lower respiratory disease from rsv in people 60 years and older. Rsv can be serious for those over 60, including those with asthma, diabetes, copd, and certain other conditions. But im protected. Arexvy is proven to be over 82 effective in preventing lower respiratory disease from rsv and over 94 effective in those with these health conditions. Arexvy does not protect everyone and is not for those with severe allergic reactions to its ingredients. Those with weakened immune systems may have a lower response to the vaccine. The most common side effects are injection site pain, fatigue, muscle pain, headache, and joint pain. I chose arexvy. Rsv . Make it arexvy. Charles breaking israeli Prime Minister benjamin yahoo speaking home and to go he gave us a number of updates including one that the palestinian governor still inside israel and the airstrikes against hamas in gaza are just the beginning and he spoke of the atrocities that are not part of vices. Palestinian gunmen killed handcuffed children in the attack on saturday. I would begin keith kellogg. General kellogg. Just your initial thoughts about this. A lot of folks in the military and Intelligence Community point to the breakdown in israels famous intelligence, how did this even happened something on this scale. Thank you for having me. This was a horrific attack in this had to be supported and held to be plan by external force meaning iran. What they did they went quiet and you didnt pick up signals intelligence and human intelligence and the mossad was able to break through this was wellplanned and well thought out. It was an attack on israel, this did not happen in the gaza strip this happened inside of israel in the scenes or horrific coming out of there. There is a moral and. Here, when you are killing women and children and soldiers and decapitating dead bodies like hamas was doing this is a clear front on mankind we need to stand together with israel, everybody does and whatever it takes for them to finish this and eliminate hamas as a terrorist entity, they need to do the. Dont think for a minute the other forces were involved in this. My concern with this administration divided administration they are trying to normalize administrations like biden did in normalize of the terroristic which is iran, this is the same state when attacks were occurring in their equivalent of a congress were chanting death to america and death to israel, this is something that should not stand and cannot stand. If you believe in the moral appeared above never again you have to believe in that. Charles to your point of the j cop of the Obama Administration and this administration led to a lot of mistakes. A lot of people warned in hindsight the 6 billion and we did not hear from President Biden today, we know the uss gerald ford is on its way the aircraft carrier. Is that going to be enough for our allies something of this magnitude. I feel like our response at least we should hear something from the oval office today. You are right on. This is a moral imperative when the president of the United States, the leader of the free world stands up and talks to the American People in a broadcasted night to make sure they understand what the stakes are. We fought a war in world war ii. I took a trip to also which with Vice President pence and i stood with a horrific concentration camp was and i sat there and i walked back to the Vice President i said after the trip this is the first time in my life i do believe in the existence of god and he said it wasnt god it was man. This is something we cannot withstand in the moral imperative start to the president of the United States and he stands up and tells the world that its bloodied and tough as its going to get in the nearterm which is going to happen in gaza we need to stand with israel. This should never happen again. And it started the attacks that you saw were brutal, women, undefended women and children and families as well, this should not stand we cannot let it stand. Charles no doubt this is an attack on all of humanity. This was an attack on civilization itself. General kellogg, we always appreciate your expertise. The market open a lot on this news. It is up, i will repeat what i said to gary, we are not going to run for cowards. Liz claman over to you. Elizabeth im wondering is that we were at or near market session tie. Otherwise the bloodied war on israel by hamas is worsening. Breaking news it is 10 00 p. M. And israel and right now youre looking at the