Vaccine world. Were talking about vaccines nationalism. Is it good thing or bad thing . Well weigh in on that. That and so much more coming on making money. Get right into it, folks with the market up almost 3 here, biggest winner in term of all major indices markets are up. We are break out. Want to bring in the guests to go through a series of questions. A lot of investors grappling what to do at this point. Alicia levine is with us from bny mellon. Dani hughes is with us as well. Want to start with you. On this market, just your thoughts, the way we were breaking out, resolve that weve seen, where were going from hire. There has been a lot of sent system. Some of that has to be going away. Yeah. I think the skepticism has gone away. Hope has sprung eternal. People buying stocks and happened last week, continues on this week. With the images that were seeing not just here in the United States but globally, with rates coming down, the curve flattening people getting back to work, people being excited to get back to work i think that is really made things effervescent in the markets. I think so much uncertainty still facing reality, investors are not looking at that right now. They want to look out at least six months. What that is indicating to us, that things will be fairly back to normal. There is still a lot of segments in the market under water, charles. Charles all right. There are a lot of segments under water. I want to come back to you, dan dani. Alicia at some point if youre sitting on the fence maybe you want to get into this market. First general assessment in the market, where are the values right now . I would echo dani. What is interesting about the pictures we saw this weekend not just from the u. S. But europe and hardest hit areas, people have greater risk tolerance than maybe they were thinking a few weeks ago and the reason that matters it suggests that the recovery could come quicker. Not just that the pictures were nice to see, people having a great time, but it suggests that people are willing to go out, willing to engage in the economy and be out there in the way that we werent sure they were going to originally. So where are values . We talked about the outperformance of tech for a long time here and last friday, when market closed on friday, the top five tech stocks outperformed the market by 32 . You had a lopsided market. Yes, now what were seeing cyclicals are working. Everything that was given up forelost is working today. Charles okay. To that point, dani. You have a bifurcated session. You have stocks doing extremely well, in areas that would be the last to come back. Cedar fair on amusement parks. Live nation, not going to cone certificates for a long time. Cruise line stocks continue to roar back. Financials are leading the way. Great comments out of jamie dimon. He is looking for a Third Quarter recovery. That the banks are making money. That he wont cut his dividend. So were, again, there are opportunities out there, even if youre skeptical. There are a lot of opportunities out there, charles, i think there is lot of segments to the market have not recovered. You talked a little bit about Consumer Discretionary names. Cedar fair, for example, Royal Caribbean. A lot of these Companies Issued a tremendous amount of debt over the last, in the last 30 days. Live nation, for example, 1. 2 billion which was upsized from about 800 milliondollar note size. Cedar fair [inaudible] sorry, million in notes. Sew youre seeing a lot of activity in forming up the Balance Sheets of a lot of these companies. Even though theyre down considerably, i think people are concerned about, what are the regulations going to be when people get together . How people be jammed into the companies that rely on model of physical closeness . Until we can see that, i think that you know, the stocks will remain depressed. For example, Royal Caribbean still has a no sale order. All of the big cruise lines do, that was issued by the cdc until july 24. That may even be extended. Even though things are own track for next year, i think that were going to have to wait and see. Charles all right. Ladies, let me ask you, i saw this great survey on regret, maybe we should rename this the Frank Sinatra rally. 45 say they have no regret how they handled the coronavirus. 13 regret diversified portfolio. 13 said they had too much savings in the stock market. Alicia, i would love picking your brain. As this rally or at least this period, last three months taught you anything. Is there any regrets . Is there something you learned you love to share with the audience . Look what i learned from this is that when we talk about the market being a forwardlooking discounting mechanism it really, really is. The thought we may have hit the low on march 23rd just as we were coming into the worst of it, very hard to believe that the market, from that vantage point, that the market could have rallied the way it did. It did because it was powered by the sectors that were open and working and gaining market share. Ultimately, the market really is not the u. S. Economy. So the regret for me i guess would be, that i should have had more faith in the market than i have always trusted to tell me where were going us because the market is telling us six months from now were going knob a better place and that is a going to be a important message, fast on the way down and fast on the way up. Charles dani . No matter how long an issuer has been aeries aristocrat from a dividend standpoint. They increased it 52 years, and all bets are oaf when certain things happen. We saw that with a lot of oil companies, production companies. Even though they had a stellar dividend history, dividends are not guaranteed. So that is a big lesson a lot of people [inaudible]. Charles and thats so funny because that is exactly what jamie dimon said moments ago from this conference. He does not see buybacks coming back and dividend will be tough to maintain. Alicia, dani, thank you both very much. Appreciate it. Thanks, charles. Charles folks, japan declaring victory over the coronavirus. Guess what, they did not do it with a nationwide lockdown. In fact their constitution forbids. Instead the government asked businesses to close. To be smart, asked citizens to follow new guidelines. 30 new case as day in nation of 127 million people. Should we take note . Joining us to discuss, republican senator from indiana, mike braun. Senator braun, thank for joining us. President trump is on record saying no more lockdowns, what do you think about that . Sounds like japan. What you take away from all this one size fits all that i think the bureaucrats said we needed to follow, obviously will be, i think distilled as being wrong once we look at it in the rear view mirror. I think what they did there was the things that all of us have been told to do. No business that i have talked to, it has been many, many, small, medium and large, and in my business that i was ceo of for 37 years right now, weve been paying attention to the rules. You do not want to put your customers other your employees in peril and it looks like japan did a commonsense approach. And that is not systematically kill your economy but respect the disease. I think when we look at the swedish model, look at japan, you look at what could have been done here in the country, i think, well find out that we didnt need to have the draconian measures in place, one size fits all, essential versus nonessential, many businesses could have respected rules declared nonessential that was bureaucratic as well. Most main street entrepreneurs dont have high density traffic in their stores anyway. They could have stayed open. Now to deal with the uncertainty and how this economy comes back. Charles critics show say japan is a different society. That they follow the rules and were mavericks and we wouldnt have followed the rules. I dont believe that. I think that is inaccurate, particularly in the throes of the virus and unknowns about the virus. I think we would have taken extra precautions. I agree 100 . I know that is the case. Every business i communicated with has taken it very seriously for reason i mentioned earlier. It is in their own best selfinterest to do so. When you have the broad decisions coming down, that blanket approach, you needed it probably in the epicenter of new york and new jersey. You did not need it in rural america. You did not need it in most of the states that are more rural than they are urban. Charles speaking of that, Economic Activity continued to pick up, particular any in states that begun to open their economies. Look at three week difference in restaurant reservations in these big cities, right . It is just pretty, pretty amazing. Obviously if youre new york, chicago, los angeles, youre not going to have any reservations because you wont let restaurants open but these other places are seeing dramatic improvements. Of course were seeing it in airlines, cruise ships, casinos. Casino stocks are through the roof. If you have a casino in louisiana or mississippi. So, i saw where you tweeted out going to your favorite restaurant what is the moral of the story here . The moral of the story is, i was so impressed, i went out the weekend before at two other restaurants. They removed 50 of the tables. They served at the salad bar. You couldnt go there. They did things by the book. They paid attention. Their biggest regret they had to wait a month to do so. The strong businesses that have been around will make it through. Most Small Businesses dont even catch stride until theyre around four to five years. Im worried about startups, businesses that didnt have the Balance Sheet and then we can blame it on bureaucrats doing that are one size fits all where they didnt get the opportunity for enterprisessers to Pay Attention to the rules, do two things at once. Charles senator braun, always a pleasure. Thank you very much, we appreciate it. Thanks for having me on. Charles hey, folks, were looking at monster rally on wall street but Major Players are missing out. Later in the show i have a warning about fixating on Investment Strategy that doesnt work. I will call it, i do call it the captain ahab syndrome. Will lawmakers go big in the next round of stimulus to even spur the economic recovery . Economist art laffer will weigh in on a congress divided next. Staying connected your way is easier than ever. Youre just a tap away from personalized support on xfinity. Com. Get faster internet speeds with a click. Order xfi pods to your home in a snap. Or change your Xfinity Services with just a touch. All in one place. Youre only seconds away from all of that on xfinity. Com. Faster than a call. Easy as a tap. Now thats simple, easy, awesome. Charles congress yet divided whether to go big in another round of stimulus slash relief, as nancy pelosi wants or pause as Senate Majority leader Mitch Mcconnell is insisting . Now all around the world the left of stimulus varied but the United States at the top of the list. So does this mean our recovery will be the fastest . Joining me reagan economist, art laffer. Art, work out over the weekend by Deutsche Bank suggesting weve been most aggressive between federal and money center printing that our recovery will be the fastest. So is that a argument for adding even more stimulus into the mix . If it were true it would be charles, but its not true. What you found is in 20082009. Countries had the least stimulus had biggest, quickest recovery back to normal, just for the record. Government spending, charles, is taxation. Government doesnt create resources. It redistributes resources. Every dollar it gives to someone it takes from someone else. So that is daxization. Especially when you pay people not be employed. 600 bucks per week, per unemployed worker is a killer for employment and recovery. So just for the facts, i think Deutsche Bank is way out to lunch on that. Neil charles what about liberal economists, some are saying, prescient over the weekend, conservative argument about debt is ridiculous, using their words, because money we owe ourselves . Why are we sweating to this degree . Why do we stop people from having better life if it is just cash owed to ourselves . I love that argument. It is so sellly. If you oy me 100, hey, you and me owing ourselves, let me not pay you back. How is that one, charles . Does that fit well with you . We dont owe it to ourselves. We owe it to specific people and we borrowed it from others. That is just silly. You shouldnt say liberal economists. You should say not very welleducated economists. Charles oh, i wont go there but i will stay on politics for a moment. Because it is easy to say, academically or whatever, this is what were supposed to do. When youre washington, d. C. , things we, you know more than anyone else works differently. Weve got a republican, rob portman saying hey, lets pay people 450 bucks to comeback into the workforce, to go back into work, are you shocked at that suggestion . Well, i am shocked. I like rob very much. I think he is a good senator and i think he is a great guy. Im from ohio, lets go. He is wrong on that. What we should do if anything, we should have a payroll tax waiver through the end of this year, which would reduce taxes on employment. If you reduced taxes on employment, you are going to get more employment. It would increase the incentives for workers to work. It will increase the incentives for employers to employ workers and that will be the best way of doing it by making it shortlived. You will cause a rush to get into the deal, which will accelerate production up. The nice thing it doesnt pick winners and losers. It pays everyone lower taxes. Every company has to pay less taxes as well. It is just perfect. By the way, cutting taxes is 30 more efficient than spending money. You dont have to get the toll for the troll putting it into the government first and spending it. How do you like that one . I. Charles i love it my man. I love it. Thanks a lot. Leave it here. Charles breaking news, folks. We got to let art go. Press secretary Kayleigh Mcenany just now holding a press briefing at the moment. Just moments ago expressed President Trumps displeasure with china over its new Hong Kong Security law. She says the president does not see how hong kong can remain a Financial Hub as a result of this new law. Were going to of course continue to monitor the briefing and bring you headlines as they come across. Speaking of President Trump threatening to find another site for the Republican National convention. The question, will he do it . Time is ticking. Joe biden trying to clean up the damage after his shocking statement that you aint black if you aint voting for him over trump. The woes dont stop there. After calling out amazon for not paying their fair share. Retail giant is firing back at the president ial candidate in a very public way. music which is why when it comes to his dentures only new poligrip cushion and comfort will do. The first and only formula with adaptagrip cushioning technology. Choose new poligrip cushion and comfort. Unlike ordinary wmemory supplementsr . Neuriva has clinically proven ingredients that fuel 5 indicators of brain performance. Memory, focus, accuracy, learning, and concentration. Try neuriva for 30 days and see the difference. Thats why usaa is giving Payment Relief options to eligible members so they can pay for things like groceries before they worry about their insurance or credit card bills. Discover all the ways were helping members today. Charles the white house looking at already reopen states to host the Republican National convention. This after President Trump threatening to pull out the event from North Carolina, if the restrictions are still in place. Blake burman live with more. Blake . Reporter hi, there, charles, yes, President Trump is threatening the democratic governor, rather the of North Carolina at the same time he is about to host the a meeting with democratic governor of new york. Lets start there very briefly because some news on that front today. Andrew cuomo, the meeting between the two will occur at the white house tomorrow. Como said earlier today hopes to go to the white house to talk to the president about potentially using infrastructure to reignite the economy. Watch here. Is it. Im going to go to washington tomorrow. Scheduled to meet with the president , to talk about a number of things but this is one of the things i want to talk to the president about. You want to restart the economy, lets do something creative. Lets do something fast. That will be cuomo tomorrow but over the weekend as well the president was threatening to move the Republican National convention from charlotte, North Carolina, unless that states democratic governor, roy cooper can guarranty he will allow the venue to be fully occupied. That convention is slated for the end of august. The white house says the president does hope the convention can remain in North Carolina . He wants to see this convention happen. He wants to guaranty that in fact it will from the state of North Carolina. He wants to make sure democrat governor is not putting in place a extribe yaws restricts that would prohibit him from having the convention and holding it. Reporter cooper said in a statement over the weekend, charles, the state of North Carolina is working with the rnc. He added in that statement the following, saying quote, North Carolina is relying on data and science to protect our states Public Health and safety. By the wa