Begin to run out. Republican leaders met with President Trump as the party tries to get on the same page. I think i know what the final package will look like. Well discuss later with mattie duppler, plus . I am a believer in masks. Masks are good. But i leave it up to the governors. Charles President Trump is open to wearing of masks in a wideranging Fox News Sunday interview and were live at the Trump Campaign headquarters with reaction. That and much more on making money. Charles so now all your indices look like theyre trying to turn positive right now as we begin the week. Increased anxiety no doubt about it, but also resumption of the growth trade taking the lead. We saw second concerted effort to get the socalled value names to rally. The result was actually fantastic. We saw strong performances in industrial names, material names. Moreover, those gains actually came at the expense of technology and Communications Services names. Although friday we saw that reversal begin to change again. The stock markets tugofwar i think will be decided by fear. Two types of fear. Fear of missing out. A breakout in s p which is happening right now and the Dow Jones Industrial average, in my mind will force even the most bearish Money Managers into the fray as well as causing those who even hate this rally to blink and jump in. There is the fear of losing money. If the hot Growth Stocks falter and money does not go back to devalue, we could see selling more quickly into a rout. Look at winners and losers last week, s p up 1. 25 . Communication services were down. Technology the biggest loser. Industrial names up almost 6 . Material names up 5 1 2 . Traditional and wall street and Financial Media continue to beat the drums of a market crash, warning individual investors they will lose their shirts in addition to all those moving parts, i think this could be a makeorbreak week for the stock market. I want to bring in money map chief investment strategist, shah ghailani, lee munson, Constellation Research founder ray wang. Believe it or not having the best july since 2013. Value stocks are rebounding. Youve been positive about the rotation. We broken major resistance level at this very moment. Can it continue so if so what stocks and industries will lead the way . It absolutely can continue, charles. I think it will continue. I think youre correct. Well continue to see rotation into beat you know up stocks and sectors. We saw as you pointed out in the materials and industrial sectors. I dont know that they will lead. Tech will continue to lead. Major tech earnings coming out this week. I think they blow it out of the park. I think that puts tech back in the leadership position. Tech faltered a little bit on monday, we saw the reversal. Markets are a little bit nervous. 1. 1 nasdaq composite lost last week, maybe they make that up by a factor of two in one day today. Charles looked like theyre on it way in part because of the upgrades. Lee, i know you like value as well . I do like value. I like that pause there. Listen, since the dawn of markets those cheap, smaller stocks, even large cheap stocks, have always led us out of recession. That doesnt mean you have to hate tech. I am definitely guilty, charles, of talking about how this looks very much like dotcom but it is not at extreme as it was back 20 years ago when we saw this whole thing fall apart. So i would say you dont have to be a hater of tech. What i would rather see for a healthy Market Going Forward is the values start catching up. So with im doing with new cash today, if you dont want to play buy high and go higher, if youre not comfortable with growth, what were doing for our clients, were just buying those beatup, cheap, small value names. Heck, even probation, people think im crazy, i think a couple years from now well see these were very good deals. So you dont have to necessarily think that tech has to come down 20, 30, 40 to get money invested. Right. Plus lets remember, our Largest Holding in the sap 500, 25 are all the tech names. So im getting it every time i buy the s p. I think it is a bit overstated. I again would rather buy the cheap things right now. Charles here is the thing, lee, it is not just you. Lets be honest, wall street in general missed a whole lot of this rally this year and they seemed focus on catching up. Almost every day these major wall street firms seem to have discovered big tech and raising their prices on them. Theyre catching up. This morning no less than four target increases on microsoft. Right now, 32 buys, four holds, zero sells. Goldman went to high of 3800 on amazon. Credit suisse taking target on facebook from 255 to 305. Underlying fundamentals which is different than chasing share price. What is happening right now because wall street seems to be getting on board at this moment . The big thing with big tech, it is cloud, digital, work from home, a. I. And automation. That is what is driving it. This is winnertakeall models in the age of duopolies. The giants are winning. What i look at that, tsa passenger numbers, when that breaks a million per day that is it interesting. Total unemployment down 7 . I think cyclicals will do really well. Of course im also looking to see what the general sentiment is. When we think about how much money supply and how much money is deployed the dow should be at 30,000, nasdaq should be at 12,000 given how much money is in the system but there is still a lot of money on the sides. Charles right. What are you saying . If you get good news, better news on the economy, perhaps phase three, positive phase three on any vaccine, some cyclical names Like Airlines all of sudden theyre getting hammered again. The cruise ships got bad news from the u. S. Government. They pushed off any purported trips. So this cyclical trade, what comes to life big, every now and then, to your point has faded, do you hang out in these big tech names, ray, before then . Yeah. Charles how do you go about this . Okay. I would definitely hang out on the big tech side for now. I would watch the other numbers. Jump into travel, hospitality. Banking is interesting to me. Banking is hard because Interest Rates running about zero. So the banks will have a lot of pressure for a while. It will be costs taken out on their end, right . Commodities look great. Gold is amazing at this moment. Charles you know what . On the bank side im looking at these fintech names and these companies that are involved in payments. That seems to be the place to be in financials. I want to get back to what i was talking about. A couple cautionary articles in the journal this weekend. One compared the nasdaq to the south sea bubble. Folks this was described in the famous book, extraordinary popular delusions and madness of the crowds. If you havent read it, read it. I think it is unfair comparison. Lee, you mentioned youre already negative in terms of this. My problem, lee i think attacks on the individual investors you know, for years we bullied millenials for not being in the market. They get in the market. They dont like what the purists like and bully them again. I dont like that. There is so much hate when young people make money buying hot stocks. I feel that pain. Heres the problem. Im guilty of talking about the dotcom analogy but the pes are very different today, number one. We dont have 1000 teslas out there. Say what you will about tesla, but remember 20 years ago, charles it was like all the companies had gone up 1000 . None of the Tech Companies really made money like the big six do now. Theyre cash cows. Charles right. When you look at apple trading under 30 multiple, that may still be a little rich for my blood, right . Thats okay but i would caution people to say that the fact that some robin hood traders bought hertz going through bankruptcy, that is not the same as the nasdaq 20 years ago. I dont think young people have any concept of the crazy, time, that we went through 20 years ago. It is similar, but it is just not there. I think were more mikely to see the down and out catch up, because the market looks six months forward, not back. Charles so let me bring in someone else who was there and remembers all of that stuff, shah ghailani. Shah, youre very versatile. One of the reasons i love having you on week to week, you change your ideas, you follow the market, you try to be ahead of the curve. What do you make of the constant beating up of individual investors . Theyre doing extremely well right now. To lees point, theyre not buying companies that were under toed on the back after napkin and never made money . I get that beating up of Retail Investors but you have to tip your hat to the Retail Investors because they led us out of this doldrums in march t was really retail that powered the market forward institutions in first time in my recollection had to follow stocks into retail took higher. By the dip retail crowd came in first. You have to give them credit. I dont think it is overdone. I think there is plenty of room. About price to earnings multiples, about Time Companies making, generating profits and cash they are deserve to trade at higher mult pest. People are willing to pay up for the earnings. It makes sense to me. I dont think were overblown. I think we have a good ways to go higher. Charles wow. Ray, bring you in with less than a minute. Good example in todays session, chew which up, pets down 17 . There is changing of the guard. The market recognizes this. Consumers recognizes it. I think old wall street is slow to recognize it . You know thats right. Consumers and Retail Investors get exactly what is happening. They have better signal intelligence. They know what is trending earlier and theyre making a gut call. Gut calls based on what theyre seeing in market, winners, losers are very distinct. The companies that built digital platforms, the companies that built digital infrastructures, companies contactless, companies more in touch with consumer needs, those are the ones winning right now. Charles ray, lee, shah, three of the best. We appreciate you guys helping us to start to the week off. Well talk to you again real soon. Negotiations for the next stimulus package kicking off. I think one of the houses top items at least from one of President Trumps wishlist will not make the final bill. A topic lit up my twitter page. The mask debate. You have spoken. Now President Trump has spoken. I want to hear more thoughts from you cvpayne. Well speak to someone from the campaign in a moment. Later in the hour major developments on the race to get a vaccine. Dr. Siegel weighs in. Should your kids go back back to school . Well see what he has to say. Were coming right back. We have tremendous progress on vaccines and therapeutics. I think people will be pleasantly surprised what is going on the vaccine front and the therapeutic front. 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. Save without even leaving your house. Just keep your phone and switch to xfinity mobile. You can get it by ordering a free sim card online. Once you activate, you only have to pay for the data you need, starting at just 15 a month. There are no term contracts, no activation fees, and no credit check on the first two lines. Get a 50 prepaid card when you switch. 5g is now included with all new data options. Switch and save hundreds. Xfinity mobile. Charles talks over a fourth stimulus is underway. Theyre calling it covid four. The battle between the white house and congressional leaders there is still a mixup there. President trump telling fox he may not sign any package that does not include a payroll tax cut. Blake burman is with us and he has more. Blake. Reporter here we are, charles. Pointing to the end of july, here we are at this moment. We saw the negotiations, at least the conversations start publicly earlier today in the oval office as President Trump says he wants, as you mention a payroll tax cut. The majority leader drawn his red line. He wants business liability protections. The treasury secretary Steve Mnuchin says he will be going up to the hill tomorrow. He will be meeting with republicans up on capitol hill. After that, he will start discussions with democrats there as well, in this mornings oval office meeting, the lead negotiator laid out other items on the administration wishlist. Watch. Well have tax credits that incentivize businesses to bring people back to work. Well have tax reds for pp and e. For safe Work Environment and well have big incentives, money to the states for education, for schools that can open safely. Reporter the top democrat in the senate, chuck schumer, wanted his stance publicly known going into the negotiations as he wrote a letter to his colleagues saying at one point, quote, unfortunately by all accounts the Senate Republicans are drafting legislation that comes up short in a number of vital areas, such as extending Unemployment Benefits or funding for rental ses stance. Hazard premium pay for front line workers or invests in communities of color being ravaged by the virus and many other necessary provisions. Charles, we will also be hearing more from President Trump in the recent days as he says he is going to be bringing back those coronavirus related briefings. Watch here. Well give you a lot of briefings in the next week and over the next few weeks as i think it is very important to do it, the vaccines and therapeutics. I think which i will bring some of the Great Companies that are working in vary successfully in the past worked on these things and they are going to tell you very specifically what theyre doing and how theyre doing. Reporter charles, the president says the first of those briefings will resume tomorrow, 5 00 in the afternoon. Charles . Charles im going to rush down, get me a familysized supply of popcorn. I cant wait, blake. Reporter get it ready. Have it popping. Charles well see you soon. All right. For more on all of this, lets bring in National Taxpayer unions senior fellow mattie duppler. Mattie, i dont think well see a payroll tax cut in the final bill. I think well see limited additional Unemployment Benefits. They will probably compromise at 300 bucks a week. Liability for Small Businesses in particular is a must. Aid for first responders. Schools need money to reopen safely. Maybe direct payments to americans. I want your thoughts on this because they have a short period of time to get this done, and a whole lot of different opinions. Charles, i hope that someone up there is listening to you, because that was a pretty good list lay out if that is what the next package looks like. Something i want your viewers to keep in mind. Well hear a lot of political acrimony from both sides what each is proposing. The cares act included a lot of common sense relief which was supported by both political parties. A payroll tax holiday, not a payroll tax cut, but a payroll tax holiday allowed businesses to have liquidity for few weeks and months as they weigh into uncertain business future there are things that both republicans and democrats signed off on in april that continue to be in the package now. The other thing very important to keep in mind, in the spring the presumption was that in the summer months we would be in a much better situation we are right now. We thought infection rates would be down and economy would have recovered more steadily at this point. Neither of those things have materialized because were dealing with the Public Health circumstances that ameliorated to the extent we presumed they would be. That means a role for congress to play here, to give economic certainty to american taxpayers, families and businesses as we look the next couple weeks and months and whats ahead. Charles right. We did see though, initial data including jobs come back much faster than the experts said they would but i understand with the reclosings, and the anxiety associated with that and you look at some High Frequency data, whether it is transit or anything like that, dropping considerably over last short period of time, it seems like it should send a sense of urgency down to washington, d. C. Back then, though, i think the key contention will be this additional 600, mattie. We know it is too much money. Between that and what you get from your state, most folks were making more than they would working. They will not go back to work during the age of covid19 when they could be making more money staying at home. Where is the compromise there . Listen, i dont blame a rational worker who will get paid more to stay at home than going to work in a pandemic. That is the challenge. The reason the Congress Okayed a 600dollar benefit, rather than something does wage replacement or 100 or 175 of our employment systems. The systems are too old to handle that math. Simply put our unemployment system is not sophisticated to give big amounts on taupe of states. That is big problem. Social safety net needs repairing. We only think about it in the time of crisis and there is no political will to do it. We should decrease that amount. That will help businesses rehire folks, particularly in states where it is safe to do so. There needs to be precautions for the workers as they get back on the front lines. Whether theyre essential worker or not they need to be safe doing it. That gives them more confidence in the work place. More confidence in