Somebody suggested that the last week. Lets start with the markets. Just a remarkable year already but it is hard to believe that the last few sessions, with weve seen with this market is really nothing. It has sort of been sideways. The nasdaq of course has been on a remarkable one but even those gains have not been as large as they were initially before. I want to go to two of my favorites to get an overall assessment for what they think. This is well drip lower and violate key support points or were waiting for the right catalyst, the right spark to send us into the next leg higher. I want to bring in shah balani and che levine. Shah, it is great for the market to go sideways. Were knot accustomed to that this year. I think the reason it is sideways now, charles. The market is taking a breather in here. The trend has been clearly up. All of the days when the market has been up the volume has been great. On down days the volume slept off. That is only positive time. The reversal last thursday last, market sold off big time, volume was big and this past friday, we did reversal, volume picked up. That is a little worrisome but the trend is up and investors are looking at retail, having driven up the market, Institutional Investors behind the curve will come in behind them and bid up the market further because they are lacking in performance. Charles they are lacking in performance. But i get the sense, shah, some are weighing if we wait back, retail, particularly millenials, run out of money if we get the pullback well get our chance. I kind of feel that is going on as well. Alicia, what are your thoughts . I think the markets are really waiting for a couple data points to confirm the upward trend and the first thing that will be really important is the july 1 read on the labor force. Usually the data comes on friday. This year coming on thursday because of the july 4th holiday. That is something to look forward if we get another month of job growth. If we do, that should help run the market higher here. That is a really important data point. It confirms trends. As it comes to millenials, great that people are investing. Im a little concerned about investing in the equities of bankrupt companies, however, for the long run equities is where you want to be and investing younger is always better. Always. Charles it is always better but lets talk about the other end of the spectrum too because i read an interesting article in the journal, it reminded me, we were going through all of this, really when the wheels came off late february, early march, throughout march, one thing i came on tv, i said over and over again, do not take a loss, do not lose money on something you may regret. B, if you have the wherewithal, buy the dip. Unfortunately investors 60 years old sold, many sold at the lows. Shah, i want to get back to you. I saw that in 2009. I saw it in 2001, 2002, not so much in 1987. That was a tough day. The point have the rules changed . What would you tell someone 62 years old and really on the cusp of selling everything in the stock market. I would tell folk unless youre a trader, unless playing traders game, if your an investor stay the course. As long as you have a minimum fiveyear horizon, no matter what the markets do they will continue to turn and go back higher. There where else for the capital to go but into the stock market. There is no yield anywhere else. This is where the money is. It will continue. This capital being created every day, charles. The money goes into the stock market. That is where the yield is, and appreciation is and that is where investors need to stay. Charles alicia . I agree with shah, 100 . I would say even if you only have 12 to 24 month horizon you still have positive gains from here. Because the technicals are telling you that six to 12 months from now it will be higher. Every time there is a bear market accompanied by a recession, youre always higher 12 to 24 months later. Even theyre with the Remarkable Movement weve seen since march 23rd, staying in equities is actually still the right move. I would say this, it is great to hedge with fixed income because you still get Downside Protection on really ugly days like the kind we saw last thursday. Ultimately equities, there is no other alternative when there is no yield out there. The large cap tech is acting like bonds. Theyre unkillable. Charles so heres the thing, to put it into perspective for the audience how crazy volatility has been, the top performers for 2020, the vix, right, that is what you measure volatility, up over 140 . After that you got gold, orange juice and nasdaq. So again, shah, were settings yourselves up for the second half the year. I remain bullish but i know there are periods that will be challenging to us. What is the key folks to take away . I think folks should stay invested. You have to have a long term horizon and then you can sleep at night f youre comfortable with fixed income and not getting yield in fix income or bonds, buy dividend yielding stocks there are Companies Offering great dividends increasing every year. These are the aristocrats knot going anywhere. You have. Price appreciation potential. The market is where investors have to stay in. There is nothing else that is going to change that. Charles alicia, you think technology will continue to dominate . I think it will continue to dominate, essentially that is where the economy is going. I would say this, also add some gold. Gold is nice hedge against all the is Central Banks providing all this liquidity. Actually europe looks pretty good. We have finally fiscal stimulus out of germany and europe. The ecb there is going to support. There is other places to go besides the u. S. I think large cap growth stocks, not just tech, but also health care is a great place to be for both dividend and growth. Growth even if the cyclical recovery may not that be great. Charles health care was the numb per one performer last week. Biotech is leading the way. I have a very special biotech guest coming up. Alicia, shah. Thanks very. New york citys museum of Natural History is removing a icon nick statue. At 2 45, we have Fox News Contributor liz peek. Why this might be the Tipping Point in the cancel culture movement. Real estate market but the worst appears to be over. Why we could actually be on the cusp of a housing renaissance. Thats next. vo at audi, we design cars that exhilarate with versatility, whether on the track, or the everyday drive. Today, that philosophy extends to how we connect with you. We call it, audi at your door. Whether a remote test drive, shopping, tradein, or even service pickup, audi at your door can do this and more at participating dealers. The premium audi dealership experience, on your terms. Audi at your door. Ive been involved in. Communications in the media for 45 years. Ive been taking prevagen on a regular basis for at least eight years. For me, the greatest benefit over the years has been that prevagen seems to help me recall things and also think more clearly. And i enthusiastically recommend prevagen. It has helped me an awful lot. Prevagen. Healthier brain. Better life. Charles so the markets are up despite global tallies Coronavirus Infections i think we crossed nine million ago. I already warned that the Financial Media has been laying traps a couple weeks ago, so the increase in covid19 cases would be used to scare investors. Face it, there will be increases as states reopen. That is not einstein stuff. It is common sense. The socalled second wave, it is going to happen. Right now more than likely this is the first wave and it is being measured properly. Moreover increases in cases have been concentrated in the under 49yearold category. Since the rise in cases from younger people, the death rate dropped. That is a stat you probably havent her much about. From the National Taxpayer union mattie duppler. Mattie, i find it amazing couple months ago we were debating when to, you know, reopen the economy, we were told, increase testing. When started testing more people and more cases came out, they said well, close the economy. Seems like the ultimate catch 22. Darned if you do, darned if you dont, charles. This is i think displayed the challenges that we have in some of our Government Systems right now, right . Which is we need more data to make informed decisions. How do we get the data. Once we have the data, how does it influence policymakers decision making. You are absolutely right. Weve been talking about testing as the key to getting the economy back open. I think part of the conversation that we need to be having too, how much risk were willing to tolerate. I think even admission that the economies in some states are willing to open, theyre willing to tolerate more risk. If we have the data in front of us tells us how to hit gait that risk, that is weigh we need to be doing. It is very well telling the New York Stock Exchange president said they would reopen the floor in a way to mitigate risk as much as possible. We need leaders across the country doing the exact same thing for cities and states. Well reopening, do it in safest way possible but acknowledge there is some risk to reopen miss. Charles all states are reopen to a degree, one degree or another. The debate now, though, mattie, doesnt seem to be on reopening but reclosing. Remember friday when apple said they would close 11 stores in four states . We took some, there was a little pressure into the close on the markets. Now there is the talk that maybe some states or at least regions should consider the same kind of move f we looked inside the data, we saw the majority of the new cases were younger adults who typically survived it, many dont even know they have it, should we risk closing down the economy again . We want to see even if infections increase we want them to be mild cases which are a product of doing more testing right . Youre catching people with mild cases. Before you couldnt get symptoms unless you had severe symptoms or the disease. We dont want hospitals to be overwhelmed. We dont want the death rate to go up. That is the whole reason we were told to stay home we had to flat enthe curve. With the curve flattened we need to reopen in smart manner to allow is abouts to take care of their businesses but take care of consumers. If the consumers are not confident, that is what keeps the economy from recovering. Charles where should the 55 to 65yearold worker be in this new die maam schnick should they be at home, isolated, working remotely or should they be allowed to come into the office . Listen what weve seen most workers who are in the upper echelons, those are the people doing whitecollar jobs. They have risen up in management and leadership. They have probably more flexibility to stay home. As long as they do work to home i see no reason to rush people back into Office Spaces not designed to comb bat this kind of disease. If you work from home, weve seen a lot of companies saying they might not bring people into the work place until the end of the year. If that keeps them in place, keeps rise of infections down. That is a right decision. Charles i saw a chart, reported deaths in the united states. Its a wonderfullooking chart that it is going straight down, like an amazing 45degree angle slope. Is that significant . Nobody is talking about it. I would assume it is. The point if were doing more testing, keeping hospitalizations at bay it would follow that deaths continue to drop as well. Its a lagging indicator after all the new exposure that we maybe have seen as states start to reopen. We want to make sure the number stays low. If it does it doesnt make sense about closing down the economy. What we know about closing down the economy it is very hard to get it restarted. We need to focus own the economy in a man theyre is safe and gives Business Owners certainty and workers to get back to work to protect their own health or working from home or going back into situations where they have ppe, social distancing and other ways to mitigate the rise of the disease. Charles mattie duppler, thank you very much. Thanks, charles. Charles well this morning, folks, existing home sales came in annualized rate at 3. 19 million. That is really bad. Down 10 from april. Down 26 from a year ago. According to the National Association of realtors though. They say that is the bottom. They say well see extremely strong second half in 20206789 i can see why theyre excited. Remember last week the Mortgage Applications continue to rise led by purchase applications which reached more than a 11year high. With only a few homes out there, a few months of home supply looks like demand will be strong. Were getting a big shift from the cities to the burbs. We bring in Cheryl Casone with the latest data, cheryl. Reporter data today which could have been a lot worse, existing home sales plummeted in play as the coronavirus to hammer the economy but realtors say that is the bottom. Sales of existing homes in may fell 9. compared to april to seasonally adjusted annualized rate, 3. 1 Million Units according to nar. Sales down 26. 6 annually. That is the largest annual decline since 1982, Interest Rates at the time, remember the 80s . They were 18 . Also the slowest pace since october of 2010. These numbers are based on closed sales. Represents contracts that were signed in march and april. Given those months are the worst of the economic shutdown from the virus that is not surprising that the volume came in low on this economists were looking for sales of previously owned homes to fall 3 in april to come in at seasonally adjusted rate 4. 12 million down from 4. 3 million and the lowest since 2010. Aprils decline of 17. 8 , the steepest plunge weve seen since july of 2010. Despite the 30 year average rate, hitting incredible unprecedented 3. 2 that will not do a lot to juice the Housing Market that is trying to recover for now. In a statement, nar president said new Home Construction needs ramp up in order to meet rising housing demand, otherwise home prices will rise too fast, and will hinder the First Time Buyer eastern with the record low Mortgage Rates. To your point, charles, there is exodus from larger most populated cities to rural areas. That is the way it is working with the virus. Properties typically remain on the market 26 days in may. Seasonally down from 27 days in april. Equal to 26 days in may of 2019. You have to look at the Bigger Picture here. 58 of homes sold in may of 2020 were on the market more than a month. Other thing weve seen in real estate, we talked about it before, charles that would be virtual tours, zoom tours changed how real estate is done. That helps out of town buyer looking to make a big move and weve seen that as well. Charles all right, Cheryl Casone. Thank you very much. For more on this, i will bring in real estate expert, christina campins. Kristina, since may appears real estate is sizzling. Give us your take how the rest of the year could look. The numbers were low because of we were in quarantine. What were experiencing in the market buyers are back. We dont have enough inventory. There are bidding wars. Real estate will get us out of this this time around. People have memories of 2008 recession. We are in very different times. First of all, the recession was perfect storm. People didnt have enough equity in their homes and mortgage credit was overextended. There was an oversupply rather than an undersupply were seeing right now. What were experiencing right now is that we have an influx, for instance in south florida, from people coming from new york, from connecticut, from california. In addition to the fact we dont have a state tax. We also have people flying here because of the virus. So and we are seeing a change in demand with regard to the Single Family homes. People want more space. They have noticed that during the quarantine the pools were shut down, amenities were shut down. People are really paying more and more attention to their home. It was a haven beforehand. It is becoming more so even after the quarantine. I really do believe that what we need is more listings on the market. Im telling all of my sellers were a little bit scared of putting properties on market, we need more sellers. We have buyers. That isnt a sales pitch. Us real estate specialists dont make commission unless we have something to sell. The problem is right now we dont have enough to sell. Charles christina, i have heard some stories even though these Mortgage Rates are at record lows, they are more difficult now s there some difficulty in, before i let you go, the idea that we could be on the discuss discuss cusp of a real estate renaissance from midsized homes to the more valuable homes you specialize in . Absolutely. I think well see the Real Estate Market come back full force. Im experiencing it now. I think real estate will help us come out of this. Then remember, remember that the Real Estate Market was very strong before covid19. So we cant disregard that. The economy was doing well. The Real Estate Market was doing well. I think that the Real Estate Market will be one of the main drivers to bring us out of this funk. We have to remember people have more equity in the homes nowadays. That will be one of the main drivers again. Most americans build wealth through homeownership. Dont forget that moving forward. Charles were seeing a lot of refis. I think last week refis were up one hundred from a year earlier. Been too long, christina. Always appreciate your expertise. Thank you. Thank you. Charles once the epicenter of the coronavirus pandemic, new york city, folks, kicking off phase two. It is a big step closer to normalcy. You know hightech has been rocking. Did you know the highest sector in the market is biotech. A leading voice in the field will share why biopharma will keep outperforming music . Charles new york city launc