Two side by side comparing their policies and personalities. We have a live preview. Plus we hear from the Trump Campaign. All that and so much more on making money. Charles all right, so after a couple of strong sessions the market settling back, lets call it a more anxious posture if you will. Despite the bounce, most key technical hurdles they were not cleared on the upside. Then unknowns from exogenous forces. Theyre all still in place. The stimulus questions out there, politics, of course and the coronavirus. Now beyond those issues there are traditional inputs into the market, things that normally move it like earnings and valuations. How to balance the two in an environment that has most stocks substantially lower for the year . Will we see this really change . How does this needle move and how do you make money . Here to help with these answers bny mellon chief strategist alicia levine. We have Payne Capital group, which im not affiliated. Ryan payne. Alicia, just how critical is it for this market we get some stimulus, get he have before the election, sooner rather than later and by the way do you think it is going to happen . We do think we need some stimulus here. Im not sure we need two trillion dollars but we do need some stimulus here and the reason is, as you pointed out the top line Economic Data have actually been coming in pretty good. The damage is happening in the labor market. That lower part of the labor market can, the lowest earners in the Service Sector have been affected here. We could have 10 Million People permanently unemployed because of change in demand patterns over the next year. That is what we have to target in the real economy. It is true the data have been great. Its not showing up because the bottom 20 of earners only spend about 9 in the economy. So but you do have to take care of these people and that is why we think you need stimulus. Charles no doubt about that. There is no doubt about that. Ryan, to the other point here i think the stock market sees this. I think the stock market Gave Congress a pass in august. We had the best august in 30 years. There was anxiety. Congress is hearing this, more and more reports from nancy pelosi and Steve Mnuchin theyre talking maybe something is going to happen but how critical is it we get it sooner rather than later . I agree with alicia, important for workers on the low end of the totem pole, the numbers have come in phenomenally well. If you look at gdp for this quarter, atlanta fed is estimates are like 32 , charles. That is way above where most economists and strategists have actually, thought where would weigh be right now. I think a lot of the economists and strategists they dont believe in unstoppable prosperity. They dont see the future. Next quarter, they should read your book by the way. Look at fourth quarter, looking 10 potentially in gdp growth. So i think the one narrative is here is what the market telling you this, the economy is getting stronger. Let me which in dani hughes, guys, management ceo. Dani, what were hearing the economy is doing extraordinarily well and might keep this up but there will be parts that lag. What are your thoughts whether we do get another round of stimulus . How critical is it to get the market going into a higher gear . I think it is really important to support this Market Growth. The Market Growth comes from people at the bottom who are actually buying goods and services that the market is showing up for us in the growth, right . In august, we had this stimulus bill, kind of pushed into the market. We had a fantastic august to your point. Charles right. In september we fell off 4 1 2 . A lot of that has to do with the fact that there has been this circle going round and round in congress with not making a decision. So i think it is absolutely critical that [inaudible] charles i have always said there is no such thing as trickle down economy. Economics is always trickle up. Lower incomes spend most of the money. It does trickle through society. Lets focus on tonight the first president ial debate. Ryan, the importance to the market. Will it change or could it change how you look at investing . If it is a bloodbath and it might be a bloodbath, payperview fighting right now i think that could, you know, bring tremendous clarity to, you know trump potentially winning. If that is the case, we know the economy is Getting Better. We know earnings are Getting Better that could potentially cause a little bit of a meltup in the market. Clarity tonight could be a big, big deal. It could be bullish for the markets. Charles dani, the bar is low. We know already with respect to Vice President biden but with respect to your investing there are certain sectors that look like maybe theyre doing well. Solar stocks are at alltime highs. Just how would a decisive victory tonight, if you will, for either candidate change your perspective on this market . Yeah. I think, you know, bottom line im always going to be invested. So whatever happens tonight is not going to change that view but i do think to get more clarity on what biden has to say about the taxes and when they might happen, that is going to help kind of determine what is going to get hit, what will not get hit maybe in the next couple weeks. The bottom line tax policy, economic policy, these are things that are really at the top of mind of people who are watching this. I happen to think biden will come out on top. I think that will help renewables. I think that people will think there is some kind of certainty in the future, which is something were absolutely lacking. Right. Well, everyone agrees. I think even alicia, you agree about the idea of certainty. Well see who comes out on top, who gets to determine that. I want to get back to some things that used to move markets like corporate earnings. Alicia, we saw the second quarter. It really blew away consensus. That is the big reason we saw the market rally over the summer. How are you seeing the Third Quarter . How do you think it will shake out . Weve seen in the last few months is that next 12 month earnings are actually moving up about nine or 10 since the may bottom. Since the may 1st bottom. So earnings are moving forward and actually earnings for 2021 are now at 165 for the s p which makes you not a very expensive market here. Youre fully valued but youre not overly expensive. To the extent that we can have fundamentals improving, going in the right direction, this will put a floor under markets even if have seasonal volatility and even if we have election volatility. Charles right. Earnings still matter regardless of everything. Charles thank you. I appreciate that. Earnings above it all but you know, dani, i want to go to you, it is earnings. But also we saw today in the markets so far not able to celebrate what was a monster Consumer Confidence report and it is important obviously to the consumer and to the market. Consumers, 2 3 of our society. What do you think . Weve got consumer getting stronger. Weve got the Economy Holding up. Could these earnings be enough to really drive this rally into next year, dani . It could, charles. Look at darden restaurants, fedex, nike, they all came out with earnings last week that were phenomenal, far better than we had expected but by all measures were really lousy from a yearoveryear perspective. But covid has changed all of our expectations and reset the bar. So companies we expect will continue to crush it but not on a yearoveryear basis necessarily but just from a expectation base is. I think that could really prove to show that the consumer is the one who is still in the drivers seat and we are pushing forward. Charles i got less than 30 seconds, ryan. I will give you the final word, your thoughts on this earnings season coming up. Last earnings season was phenomenal, not the numbers themselves but how much they came in better than wall street anticipated. Yeah, i think it is the thing here, not that things are good or bad but are they Getting Better or getting worse. You dont need a weatherman to know which way the wind blows. Everything we spoke about signals one thing, economy recovering, earnings going up, that is what drives markets long term. Youve got to be bullish here. Charles my man, ended on a positive note. Hey, you guys are fantastic, appreciate it. Alicia, dani, ryan, enjoy the debates. Tonight President Trump and joe biden are facing off. This will be the first president ial debate. Erin perrine from the Trump Campaign. Well definitely ask her what to expect from the president tonight. Can we count on Trumps Supreme Court pick to be one of the topics. Are Democratic Senators remuse fusing to meet Amy Coney Barrett is that a political stunt that could backfire . I want to hear what you think. Tweet me cvpayne. Well discuss it at 2 25. Thats what my dad does. Good job, michael ok, lindsey now tell the class what your mommy does. My mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our financial futures. I cant stop worrying. Why cant i sleep at night . How do i deal with all this stress . When did the world get so scary . Hello, this is michael youssef, there can be no doubt that our world is filled with troubles right now. And yet, there is one person who said, i can give you peace that can never be shaken even in the worst of your circumstances. Jesus is the way the truth and the only giver of eternal life and he is inviting you to come and surrender to him. And he will give you unbelievable peace, a peace that seems too good to be true, but its true. Will you come to him . calm inspirational music [female voice] are you looking for a peace that can withstand any hardship life can bring . Visit findingtruepeace. Com to find answers. Again, thats findingtruepeace. Com. calm inspirational music . Charles this is the moment weve been waiting for and it is nearly here. In just a few hours President Trump and former Vice President joe biden will square off in their first debate. Hadry vaughn is live in cleveland with a preview. Reporter charles, were awaiting the president s departure at the white house where he will make his way to cleveland. Were awaiting democratic nominee joe biden will depart his house in wilmington, delaware to make his way here. The Biden Campaign made it clear what they want to be the focus ahead in tonights debate. President trumps tax returns. By releasing their tax returns, joe and jill biden paid 300,000 to taxes. That is bigger check than trump report according to a New York Times report that he paid just 750 to the irs last year. After fox news the biden team in closeddoor negotiations leading up to the break, asked for two operation during the 90 minute event that the trump team wanted both ears checks for Electronic Devices the Trump Campaign is dishing out more details what is going on behind closed doors leading up tonight. Saying joe bidens handlers agreed to a predate inspection for electronic earpieces but today abruptly reversed themselves and declined. Bidens handlers asked for multiple breaks during the debate which President Trump doesnt need. So we rejected that request. Todays bidens Deputy Campaign manager Kate Beddingfield said that never happened. That is commutely absurd. Of course he is not wearing an earpiece and we never asked for breaks. If were playing that game, then you know, the trump team asked that Chris Wallace never mention the number of covid deaths once during the debate. You can consider that confirmed from the Biden Campaign. Reporter were also getting new details about bidens Campaign Strategy headed into tonight, charles. Just one month ago biden promised to be a fact checker on stage next to President Trump. Were hearing from his Campaign Advisors that is note going to be his job tonight. He will not be trying to fact check trump. Instead he is going to try to appeal to the American People and make the case against his reelection campaign. Charles . Charles hillary, thank you very much. So what can we expect from the president as he takes part in his first debate since 2016 . Joining me on that, Trump Campaign director, of press communications erin perrine. Erin, these reports popping up, so hard to, i dont know to follow but the idea that the Biden Campaign requested two breaks and also that the Trump Campaign wants to inspect for earpieces, can you help us with those . Im happy to help set the record straight on this the Biden Campaign did agree to have the former Vice President s ears checked along with the president by third party arbiter who bo see if there were any Electronic Devices in there they declined to have the former Vice President drug tested. Several weeks ago we were notified on the campaign that the biden team requested multiple breaks during the event. Those are the facts as they stand, if joe biden has nothing to hide, why all of sudden would he pull back to make sure nothing in his ears supposed to be feeding information that he cant have on his own . Charles erin, it feels like almost every other day, certainly every monday were going to get a bombshell from the media about President Trump on one topic or another. This week it is the taxes. You know the article if you read through it points to some years, even the New York Times and mother jones admitted that President Trump paid tens of millions of dollars in taxes. What about the notion that he only paid 750 in the last, 2017 . Well, as President Trump has said and as his attorney has said as well that is fake news. That is not true. The president made millions of dollars in taxes. When pushed the New York Times would not provide the source material for these allegations that they laid against the president of the United States. It is clear the media is trying to be up to their old tricks. A similar story was popped before the debates in 2016 t was also false. I mean it is like were living in a time warp. You have the media obsessing about taxes. You have adam schiff talking about russia. You have nancy pelosi talking about impeachment. Lets talk about now. Lets talk about the success of the trump administration. I can tell you the president has paid millions of dollars in taxes and the New York Times story was fake news. Charles right. Erin, what is the key focus for President Trump . What does he want to really communicate to the American Public tonight . There is a clear contrast that exists between President Trumps America First agenda and joe bidens failures. Its 47 months of success with President Trump at the helm for america versus 47 years of failure with joe biden as a d. C. Swamp creature. Listen, joe biden has not wanted to have exchange of ideas. He didnt want to move the debate timing up before the American People would begin to receive ballots across the country because he knows he has bad policies that to defend. Whether 4 trillion in tax hikes, the green new deal, or opening the borders for Illegal Immigrants and providing them taxpayerfunded health care. Joe biden actually has to defend himself, plus his 47 years of failure. Well show a clear cone interests this evening. Charles before i let you go, you know, of course a lot of news will be made afterwards, interpretations of who won. A lot being made of the fact that the bar is set president low for Vice President joe biden, in part because of the President Trump pointing out how many times he put lids on, active he is going out meeting people. Are you concerned about there being two different sets of rules who won and didnt win this thing . There are always double standards when it comes to the media looking at joe biden and President Trump. If the media didnt have double standards in covering them they wouldnt have any standards at all. President trump is going to be out there. Listen, joe biden had 47 years of debate prep. He keeps calling these early lids. He is resting up and preparing to stand on stage against the greatest president the United States has ever had. If i was him i would rest up and to show as well.