tv Making Money With Charles Payne FOX Business July 28, 2020 2:00pm-3:00pm EDT
you missed me when i as away, the proof is in the emails, including this one from clyde, who writes, this guy subbing for me, charles payne, he has class and brains, something that is alien to you. he also is upbeat and you are a depressing moron. that was mrs. charles payne who wrote that. to you, my friend, thank you. charles: [laughter] i starting to use one of those fake accounts, neil. neil: so mean. charles: i have a big family. i'm happy your back. great to see you. good afternoon, everyone. i'm charles payne. this is making "money." right now, stocks are sort of drifting. investors digesting a mix of earnings reports. most companies beat but you had several high-profile names missed, there is aura of caution, not panic, investors are waiting for tomorrow, you have the fomc meeting wrapping up. you have the four big tech companies, defined on capitol
hill. where should your portfolio be positioned? meantime commodities remain on fire. so what is the message for business, the economy and inflation. we've got all the angles covered. shares of kodak, yes, kodak, tripling after signing a deal with the federal government. wait until you hear what it's for. consumer expectations plunge as more americans lose faith in the recovery. big concerns whether washington comes through with more federal help. i will ask guy reschenthaler from pennsylvania if they will do just that. that and much more on "making money." charles: so stocks sort ever sputtering today, right? but we did get a slew of earnings reports. the message to me, it is pretty clear for investors. companies are profiting off the coronavirus lifestyle changes. that is one trend really working. d.r. horton, sherwin-williams,
polaris soaring after they reported results surpassing wall street expectations. it is thanks to overwhelming amount of people looking at home, redecorating, painting, when they go out they want to get on the snowmobile or something. i want to bring in money map chief investment strategist, shah ghailani, divine capital, dani hughes. and payne company tall's ryan payne, i'm not affiliated with. people are leaving so much implications there. pools gone up. everyone building a pool. it is in the stocks. do you think it will last? if so, what are names that continue to move up? >> i think a lot of good news has been baked into these stocks. you can see the analysts can't seem to get it right. they didn't anticipate that consumers will be buying as much as they're buying. i love of the trend, charles. i love the fact that americans love to spend. no matter what happens, pandemic or not, we figure out a way to spend money.
i think that was one of the things a lot of economists were discount something our ability to want to spend right now. so you know, i do think, i don't love the at home trend. i think a lot of good news has been baked into this trend already. why juan of the things i've been talking a lot on your show, i love cyclicals. i love any sort of company that benefits from the economy reopening because that is going to be relatively cheap to any of these trends that have already been bidded up right now. charles: to that point, danny, some stocks coexist with the cyclical names. in other words, moving out of big cities trends for homebuilders. supplying the home, redecorating a the home. that will coinside maybe get better as to ryan's point they want to spend money. >> yeah. i think on that, i like the fintech names, the companies that are taking advantage of the fact that people are inclined to use new technologies in order to spend their money so that trend
has been huge for a number of years but it really, it swells up over the course of the last pandemic, let's just say. we've got earnings from visa coming out after the close which i can't wait to see. mastercard is done very well. square, paypal have done very well for the pandemic. that will continue. that trend will continue. even though these companies are expensive. you can take a position now, leg into it as things go along. charles: i got to agree, a lot of those names you mentioned i have had my subscribes in and out of them thinking we hit a top. i tried not to pay more than i did. you play the waiting game for a pullback and sometimes it never does. shah, in addition to the names, dani mentioned, we have amd. wyndham hotels, starbucks, any of these names intrigue you in buy and hold in earnings season? >> i don't know any of those
names, charles. there is lot of stuff that intrigues my. i am looking at cyclicals. a lot of industrials are looking good. commodities, etf. i like the commodity sector starting to percolate here. i am just not talking about gold and silver. i like the ag side of commodities too. we're looking for stocks, looking for companies, looking for narratives that speak to where we are now in terms of the pandemic, in terms of coming out of recession. we know tech stocks are powerhouse leading us out. are they overdone? i don't think they are. we're seeing a lot of rotation. we're seeing some already. i think it will get a lot deeper and heavier. charles: those ag chemical names, mosaic, you remember 10 years ago, mosaic, everyone had to be in it. all of sudden i am getting buy signals. i'm not in there yet but i know exactly what you're talking about shah. big tech companies, are testifying on capitol hill, antitrust hearings. facebook, amazon, you know it.
first time amazon founder jeff bezos will be on the witness stand. impact of this, ryan, sounds like you're joining the camp of a lot of folks looking for value, looking foreundervalued names but what about big tech, capitol hill, earnings reports, are you in or out? >> you have to own it here, right? the market can stay irrational longer than you and i can stay solvent charles. you have to own tech in your portfolio. those stocks can get hurt. i mean if you go back to when the tech bubble burst, cisco trading 130 times earnings. that is where amazon sis right now and that stock has never gotten back to the high like two decades later. so owning in your portfolio that trend can continue you got to diversify. you have a hot portfolio, charles, you have to start looking at cyclical names and commodities. charles: all right. dani, i think that you believe there will be reforms but maybe not breakup. there is a distinct difference here, right?
>> there sure is and it's going to take a while. it is not going to be like tomorrow once they show up. i think you want to get front row seats for this. this represents more than five trillion dollars of the u.s. economy and it is going to be really interesting to see the questions that the congress asks. i expect to see reform. i expect to see a lot of conversation around what they're doing to push down innovation of companies that they're buying and actually killing of the. charles: right. >> they have gotten really too big in order to control the content that is on these platforms. they don't want to regulate it themselves but somebody probably has to. charles: all right. i want to move on but i have a note here saying you're considering closing, taking profits on apple and facebook. i closed facebook two or three weeks ago. i kind of regret it. you're leaning in that direction? >> yeah. we held facebook since it tanked after its ipo and bought more at around 20 and $19 a share.
we held it for that long. we took profits at $100, and stock promptly shot up from there i think taking profits here is probably a wise move. i would cede that these names may back off after we start to digest what the congress says. charles: all right. of course again there is earnings. we got to repeat that as well. i've been waiting since the june 8 top for the s&p to broaden out, folks. it has been a theme on this show. finally after yesterday there were 200 winners on the s&p 500. the most all year. dani, shah, you talked about energy and financials respectively. i want to go back to you, shah, on the notion these sectors are still down a lot. they're improving but it is sort of glacial speed. the value looks intriguing but the other names move so much faster. what is the argument for staying in slower moving value names? >> argument is only one argument to be made is time. if you have time on your side.
some of these stocks, including financials, i like the banks. we own wells fargo. i talked about a contrarian play, that is two or three-year leasehold for us. that is easy double in three years, easy double if not a good bit more. you have to patience if you go into beaten up names. as far as cruise lines, airlines, you have to have faith if you go into those. those are a little more speck speck latif theme. charles: i'm calling hail mary stock. francesca. they were revenues $40 million. they are opening up 674 boutiques. will have e-commerce relaunch. investors loved the stock. at one point it was up 97%. everyone day dreams of owning a broken down, beaten down stock, right? i'm calling hail mary. you wake up it he is higher. ryan you have to have at least one or two in your portfolios? >> i'm looking at airlines.
you look at delta right now. they will finish the cash burn by the end of the year. i have to think we'll continue to fly more and more as economy mobilizes. that is my big thesis, charles. i believe economy will continue to get better and better. look how beaten down the stocks are, you have to love the airlines. that is an easy play. charles: dani, as a professionyou would never do this, somewhere in a side account you have one hail mary stock? >> i have more than one but i would say that one of mine is basic materials name for the ag sector called cf industries. it got, it got clocked. it is down 40% from the beginning of this year. healthy balance sheet, strong cash flows and 3/4 of their revenue comes from the united states. so agriculture is going to come back. i think cf will come back massively, so cf industries. charles: i have a confession.
i got into cf last week as well. we're there. shah already mentioned ag. just for the record, folks, my own hail mary stock is blackberry. i think i'm down on it like 40%. but that is my hail mary stock. one day you wake up, blackberry is up 1000%, drinks are on me. that is all i'm saying. >> i'm otherrerring lobster. charles: appreciate it. you always do. speaking of hail mary, kodak having a moment after a major announcement on air, announced this morning by peter navarro. we'll tell you all about what is coming up. it is an amazing deal in many ways. i will ask congressman guy reschenthaler on his take of the initial round of negotiation as the american people are really waiting, and losing confidence congress will come through with more stimulus. we'll be right back. ♪ member the names of your grandkids, pets, your son-in-law. favorite son-in-law.
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pennsylvania republican congressman guy reschenthaler. congressman, thanks for joining us. i think you just came out of a hearing. negotiations i would suspect are off to a fast start. give us an update where we are right now? >> charles, first, thanks for having me on, i appreciate it. where we are now in negotiations is that the republican package is one trillion, the democrats are using this as a chance to push through a radical far left agenda and huge spending bill. their plan is just under $4 trillion. at the end of the day, charles, what we have to focus on is two pillars. one is health. we need to have money for hospitals. we need to have money for operation warp speed to get a havings seen. we need to focus on health. but we also have to focus on the economy. we have to make sure businesses can reopen fully and people can go back to work is part of that reopening, safely reopening our schools. if the schools are not reopened, parents will not fully be able to go back to work.
that is a problem too. we need to focus on the economy and health. anything beyond that, charles, that is a waste. that is the democrats capitalizing on this pandemic to push through a radical far left agenda, also a chance for them to spend more money that is necessary to get us through this crisis. charles: well, i think some famous democrat strategist said said never let a good crisis to go to waste this has been the best crisis in 100 years. you said $4 trillion? i haven't heard 4 trillion for the democrat. i heard 3 trillion. it is now four trillion dollars. >> it is shy of four trillion, what is happening, you see this with education spending. democrats say a number. the republicans give them that number, democrats say they want even more money. so the democrat number keeps edging its way up with, education they wanted 100 billion. i believe in our package said 105 billion. the democrats came back and said
they wanted 300 or 400 billion. i forget the exact number. you get the idea, they're making huge jumps in moving their targets which the spending now is going out of control with the democrat plan. charles: you know moments ago we got the consumer confidence read for july and there is two parts to it. there is present conditions, how we feel right now. that number actually improved really good from june to july but the overall report plunged because expectations plunged. i mean people are losing confidence fast about where this recovery will be in six months. so that's, that's a worrisome issue when the expectations drop like this. you and i both know, part of any successful economy, people have to buy in, believe it will happen. that is one of the reasons i think we've been so successful s there any sense of your again any in the room between both parties. we have to get gone, or this is the ultimate game of chicken,
which blinks first? >> charles, consumer confidence is incredibly important. i want to make sure we're not spending more than necessary. what that does it kills our future growth. if we have the debt and deficits, it is a disguised tax on future generations. that is something we need to avoid. to the question about is this just a game of chicken, who blinks first, at the end of the day, nancy pelosi is drawing these red lines. when she draws those red lines, it is far left democrats using the american citizens as pawns to advance their far left radical agenda and that is really what is so sad here. we can come to reasonable agreement but nancy pelosi and the democrats are drawing these red lines and really capitalizing on this crisis. it is very sad to see. charles: congressman, i have got the wrap signal, i have to squeeze in something, give me an answer, the 600-dollar compromise, i think it will be 3 or $400. is it too early to reveal what that could be? >> no, charles, we're thinking
the same lines. republicans are at 200. democrats are at six. we'll probably split that, be somewhere in the middle. charles: okay. we know you're busy. we always appreciate your time, congressman. thank you. >> thank you, charles, talk care. charles: coming up, folks a, a florida man arrested for misusing his ppp money. golly, wait until you see what he bought. kodak signing a massive deal with the federal government to produce pharmaceutical ingredients. yeah we'll start doing that in this country again. we'll give you details when we come back. >> this project with kodak is going to be amazing for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today.
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that makes capsules for generic drugs went to the administration said, we would like to use eastman kodak for the other two products that go into generic medicine. they went to the international development finance corporation. their ceo tells me they work the out a deal at market rates for the loan to repurpose the code back plant. listen. >> our job in doing this is, we've got to reshore critical industries. we have to drive jobs. we have to protect the american taxpayer dollars. that 765 million-dollar loan, that is not a giveout, that is secured not only on the equipment but on advanced purchase orders from a private business that wants this to be in the united states. reporter: this is the first loan they have made of the quasi-government agency under the defense product act. converting the chemical plant in rochester, new york, will happen immediately. that means 375 jobs right now t starts the process moving critical prescription drug
manufacturing back to the united states. >> so what kodak is doing, they are reshoring, and at their height they will make 25% of american generic pharmaceutical ingredients. right now that is all made by china, india, all outside of the united states. this is a huge reshoring effort. so 90% of the medications that we take every single day are generics. this will make a huge difference. reporter: adam boehler says he expects it come do back to the united states. what happened today is the launch of kodak pharmaceuticals. the ceo said in the future this would be 30 to 40% of their revenue going forward and possibly moving the dinosaur a little bit. charles? charles: just a little bit. we'll take it. edward, thank you very much. joining me now for more on this fox news contributor from kings college in manhattan, brian brenberg. brian, president trump is plowing billions of dollars.
he is trying to get vaccine first. he wants to be able to distribute it to americans and today's bill i'm reading where they're asking for 16 billion more for the testing stuff and the vaccine. another 3 1/2 billion dollars for cdc. more money for stockpiling. can there be a cap on how much the government shells out for this project where we may drill a few dry holes? >> well-you're going to drill some dry holes, no question about it. this is a huge strategic issue. you think about what is going on in the world right now. you think about the analogy of energy independence and what it meant for the united states to be more energy independent. i think we're going for the same thing here with pharmaceuticals. that is going to matter for decades. i'm heartened the president is focused on this. there is sort of a limit what the government can do here. at the end of the day if we want robust private industry, become dominant in production of pharmaceuticals. we have to have private
individuals leading the charge. i always get nervous when the government is doling out billion dollars to a company. i can't help it. i lived through solyndra. this is critical movement. some invests like the one in kodak here seem pretty well-founded. you're talking about another private company wants to produce with them. that makes sense. you have a plan in place. this could be a strategic revolution. it has to start right now. frankly it has to start right now. charles: i'm with you. i would love to see american businesses just come back home, even those who might take a little bit after near-term economic hit because long term i think greater prosperity will fill that void. couple weeks ago japan shelled out almost $600 million for various companies to leave china to come back to japan. we heard kudlow talk about it, brian. is that something we should consider because we've tried the stick. that doesn't work very much. should we try the carrot? >> the carrot makes a lot more sense to me, charles. we've done that already,
frankly, by lowering the corporate tax rate through the president's regulatory rollbacks. those kind of things create a strong incentive for companies to come back. i want to see us lead with that. the problem that i have with targeted money to companies who in the government is picking these companies and how do they know who we want to bring back? the moment is ripe for us to have kind of policies where it is company neutral but it is pro-economy. anybody who want as good environment to operate in comes back to the united states. that is where we got to go. charles: right. >> right now the moment is so great for the administration to make that case because you have joe biden on the other side talking about regulatory increases and tax increases. this is the moment where the world needs to hear america is going to be the best place to do business. that is the president's opportunity. he has got to keep pounding that, because the other side certainly is not. charles: yeah. i think my only issue with operation warp speed, i would have asked for moratorium on
insider selling because they have sold billions of dollars worth of stock. they will walk away rich one way or the other. brian, i got 30 seconds, the your thoughts on the bill they are trying to hammer together in congress, what should the ultimate bill look like? >> man, charles it has to be pro-growth. at the end of the day this can't be a plan for redistribution. it has got to be a plan to give companies a reason to hire, keep companies from dealing with frivolous lawsuits. the american people are past the moment they're okay with shoveling out trillions with no clear line how to get the economy back on track. that is where this needs to be. i think republicans have given up too much at the start of the negotiating position but at the end of the day we need a good bill. the president has to fight hard for pro-growth policy. i would like him to come back to hammer that. charles: they're going for the kitchen sink and then some, nancy pelosi and company. brian, thank you very much. appreciate it. >> you bet, sir. charles: while the defense production act is bringing jobs
back to our country, the paycheck protection program, that was meant to keep them around yet some recipients couldn't help by line their own pockets. cheryl casone joins me now with a break down of some real offenders this is real bad list to be on. reporter: real shock that happened. fraud, scams, unethical business decisions unearthed after first round of paycheck protection program. some of the beneficiaries include luxury fairmont grand del mar in san diego. they got $6.8 million. the hotel has yet to open. most workers at home without pay but paying for their health insurance sending money back to thep company. orlando based early enterprises. they have planet hollywood, their loans ranged between 26 million to 54 million. they brought back a very limited amount of staff. most remain unemployed and yes, unpaid. omni hotel resort chain. that is owned by texas billionaire robert rowling.
they received multiple loans, 30 million to 70 million. most workers on unpaid furlough. according to the union. the company said they can't open with limited guest capacity. the employees are only left to collect government benefits. finally, this guy in florida. david heinz, he was arrested last week. he received 3.million in relief funds, applying for 13.5 million. doj said it was a fraud. he bought a lamborghini. rented expensive hotel rooms. spent quite a bit money on dating sites. the government seized car and three million in his account. he will be going to court in october, charles. good times for the ppp. charles: my goodness. oh, my goodness. well you know like you said, you knew some of those folks would arrive one way or the other. thanks a lot, cheryl. reporter: you bet. charles: moments ago virgin galactic unveiling the new cabin design for the six passenger spaceship. we have the details. as the far left continue as push
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♪ charles: well it is no secret that the far left with the likes of elizabeth warren and bernie sanders are trying to shape the campaign of joe biden, pushing the so-called moderate into socialism territory but my next guest says he has three steps to save capitalism. joining me belpointe chief strategist david nelson. david we love your stock picks but since you're going to save capitalism we thought this would be more interesting. three steps, start with those. >> three steps. tax capital same as income. make no mistake we're under attack right now. i think if we lose capitalism at this point the greatest economic engine the world has ever known
we'll morph into something that will destroy the profit incentive and innovation along with it. number two, you have to trim the tax code. it is 77,000 pages long. most of those are dedicated to avoid paying taxes. eliminate stocks based compensation. puts you on the same side of the fence as shareholder. i'm here to tell you that is bs. it doesn't work out that way. if you want to look to egregious example, look at ibm. charles: let's go back to number one. >> okay. charles: tax capital the same as income. >> well look -- charles: how would that work -- yeah. >> look, if you go back to the earliest stages of the industrial ref revolution and cap gains, capital investment preferential treatment made sense then, but capital base is so large, largely sits at those at the top of the food chain.
look at amazon. jeff bezos is the world's richest human being. he is worth $180 billion, right? his salary was 81,840-dollars. do you think whether he cares the marginal tax rate is 37, 45 or 90? of course not. his life-style is supported somewhere other than ordinary income. charles: but it sounds, david, you want to take the money from folks who earned legitimately, what would you do, redistribute it? that sounds more like something bernie would be happy with? >> no i think you need to level the playing field. look, why should a hedge fund investor, why should a real estate investors, why should private capital, private equity, why should it be taxed differently than somebody working on the line saying at ford or boeing? it shouldn't, of course. it begs to the question warren buffett always says, his secretary pay as higher tax rate than he does. charles: right. >> all i want to do is level the
playing field. why should it be 21%, 25% or 28% when others are paying more than that? charles: my concern though, if the tax rate was higher, and the government is collecting the money, we know they will find ways to spend it, how does that help people who might feel shut out? in other words, how does that create upward mobility? >> why does it have to be higher? it in fact would probably be lower. move something closer to a flat tax. make some multiple after poverty line. even five times the the poverty line. make that tax-free. or a tax base where everybody pays in. here is kicker, no deductions. that is the problem. when you have army of tax attorneys and accountants you can get adjusted gross income down to nothing. in 2018 nearly 100 fortune 500 companies made paid nothing in the form of corporate anyone
tax. charles: you gave us a lot to think about, my friend. you're going about it in thoughtful practical manner. i don't think that will appease what others are trying to achieve the over all theme of more fairness in the country. thanks a lot. i enjoyed the segment. >> thanks. charles: the race to get tourists into space, it is on, we know that. private space companies competing to the be the first. one of those, virgin galactic is training for tours and released six passenger plane. i want to bring in jackie deangelis on this t looks wonderful. everything they have done looks so amazing, jackie. reporter: it is wonderful to watch the online event where they unveil what the spacecraft will look like. the future of space travel will be probably around the corner. richard branson, virgin galactic are on the forefront of this.
branson revealed the design of the six passenger spaceship, the two plane. take a sound bite what he said to everyone that was listening. >> it is a cabin which has been designed specifically to allow thousands of people to achieve their dreams of spaceflight safely and to maximize every aspect of that fabulous journey. reporter: yeah. he wants to make sure that everybody could have the opportunity to do this but it will cost you $250,000 roughly a ticket. so you're seeing the photos again. you see what it looks like inside. you can experience weightlessness in there. once you're up in space you can get out of the chair to move around the cabin. you can look at the pilots. get next to, another passenger and look out these winds and literally see an entire view on planet earth. the timing of this? unclear. the port is spaceport america in new mexico. test flights went up recently as
last month. there are some details too. this plane or this spaceship, rather, can go up to an altitude of 50,000 feet. that is 20,000 feet higher than a commercial aircraft could go. that gives you a little sense how up in the sky you are going. people don't seem to be scared here to be the guinea pigs either because more than 600 passengers signed up to try to prebook the whole experience. the stock, charles, is skyrocketing too. take a look at that. since march 1st it is up substantially and you know, this isn't just about virgin galactic and richard branson. it is also about elon musk and spacex. those are the two big competing forces in the space. we'll have to see what happens. neil cavuto says he will sign up. i'm a little bit on the fence. it's a hefty price. charles: yeah, yeah, it is a hefty price. neil can afford it. i'm going to wait.
i will let the guinea pigs go first. i'm young. i have a lot of time to wait. all right, jackie. stocks right now more or less sideways. investors waiting for major events this week. it's a busy week for earnings. you have the federal reserve and chairman powell tomorrow. you have also got the big tech titans head towing capitol hill. in addition to testifying they will report earnings as well. so we have a lot to unpack to help you out in the last hour of trading. we'll be right back hey, kids!
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charles: tomorrow will be a huge historic day, amazon ceo jeff bezos, facebook mark zuckerberg, sundar sunday pichai and tim cook of apple. how this hearing goes and whether congress has the confidence to regulate these giants will determine whether america will be self-governing democracy. i want to bring in iwf policy analyst, patrice lee on walk can. i have to mention it, iwf is recipient of contributions from google. and you're on the list as an influencer for google.
want to make sure the audience understands that, full disclosure. are the stakes that high? is democracy, is america in itself at stake tomorrow? >> well, i think you can look at it and say perhaps. when we look at the value, what technology companies, these large platforms create for our economy, for independent consumers, how they have actually helped us to get through covid-19, keeping small businesses afloat and americans able to get ppe, to get groceries delivered at home, when they were sheltered in place, it speaks to the size and importance of tech companies. when you're bringing heads of these platforms to washington, d.c. to grill them like steaks, you know, with the intension of proving some sort of a antitrust breach, to proving they are somehow engaged in nefarious practices to squelch competition, charles, i think that is the end result. charles: yeah.
there is the traditional sense of antitrust where, it becomes anti-competitive and we've heard many stories of all of these companies, somehow taking advantage of smaller companies, even those that have come to their aid, but there is an added part to this, part of influence, the part where they can maybe sway an election. the part of discrimination. whether it is conservatives or whatever. that's the nuanced part of this argument that, you know, i'm not sure if that leads to breaking them up but everyone is upset at this, these companies for different reasons. >> absolutely. the left says it is about anti-competition, antitrust issues. well the right says it is actually about censorship of conservative and pro-trump voice s. apparently tomorrow's hearing will stay laser focused on a antitrust issues. i wouldn't be surprised if you see conservative lawmakers raise
those questions. the minds of many conservatives, are will i post tweet something or post something on facebook to have it censored because a mob feels i have hate speech and shuts me down? unfortunately i have seen a lot of tech companies, social media companies, step on those landmines. charles: ironically you would say that, twitter just announcing today that it limited donald trump, jr.'s account for 12 hours, after tweeting out a video for being use of hydroxychloroquine. what is your reaction to that? they have become aggressive with president trump and his family? >> they are. probably unfairly so. i do recognize that the trumps they certainly have a very massive following and so anything, any information or any sources any videos that they put out certainly get spread far and wide but the issue is whether the same energy is pushed towards some other people on the
left when they tweet out, you know, things that are untrue and inaccurate, or frankly hateful towards conservatives. i don't think you see. that which is where this idea of bias amongst conservatives come from. >> there is issue of sometimes you know, things being truthful and maybe controversial. thank you very patrice. this is the first show you've done since you became a new mom. congratulations. we hope to see you again real soon. >> thanks, chars. charles: stocks slightly lower today, but several commodities, folks, they have been absolutely on fire. we're going to tell you why that is happening with the implications are, of course if it is too late for you to get in on the action. we'll be right back boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect
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charles: major industries fractionally lower heading into the final hour of trading but what about precious metals? a lot of commodities have really taken off like i mean, just gone straight through the roof like rockets. it's going to be interesting to see if that influences the federal reserve when they meet tomorrow or give their announcement tomorrow. there's a lot of other questions about this spike, impending inflation and whether or not you should be in these stocks right now. so on this notion of all these things, i want to bring in someone who likes gold, has been pounding the table on gold. one of our old friends, we also want to get the read on milk, beef, orange juice, everything
else. everplus capital's jason rodman. first and foremost, golly, the gold trade, everyone's on it right now. you like it. do you still like it? what's the argument for it? >> first of all, i'm not that old of a friend. i'm only 41. second of all, gold is i think in every taevitably going to hi. i think it already did -- charles: yeah. good job. yeah. >> i think technical target for me is $2200. i think that's a reasonable place to go, another 10%. now, as far as the bigger picture why, well, the key word is trillions. that's why. trillions of dollars, trillions of yen, trillions of euros from all the major central banks in the world, as they say, they are printing digital money. the u.s. fed is buying corporate bonds, it's never happened before. you have to look at the classicecon101, supply and demand and how that affects prices.
people are thinking the u.s. dollar, the euro itself is intrinsically less and less valuable every day, because there's more of it out there. so what are they going to go to? bitcoin? maybe so, maybe not, but gold is that classic asset that's a safe haven for almost everything. charles: when we get these official reads like the cpi, particularly when they get the cpi core, we keep hearing there's no inflation. in fact, the fed seems desperate to create some form of inflation. the big problem there, they don't talk about a lot, is deflation or disinflation. are we going to start to see these numbers the a point where they might influence fed to be less accommodative? >> well, the fed is always self-proclaimed data dependent and as long as inflation is not running hot, which is really, they have to strike a balance, as long as inflation is neutral in a sense and for the fed, neutral is positive 1.8, 1.9, 2 .0, no matter what is going on around that number, if they are
seeing less than 2% inflation, they will keep an accommodative monetary policy stance in general, and in specific, even furthermore because of this covid environment that we're in. charles: so let's talk about silver for a moment. i was pounding the table a couple weeks ago and in part because the ratio to gold. gold is near an all-time high, not adjusted for inflation. silv silver, it's huge upside potential. >> it is. you know, the thing is gold and silver is a whole other animal to talk about, because certain monetary powers that be kind of what you were alluding to, not a conspiracy theory, just a fact. the monetary powers that be do not want gold and silver to be the next currency of the world. so when silver went to 50, surprise, surprise, the futures exchange jacked up the margins so everybody had to sell their contracts.
that's why silver never touched 50. so can silver go higher, yes. is it going to break 50, probably not. charles: jason, thank you very much. my almost old friend. folks, as i hand it over to liz claman, the market's sort of sideways, waiting for something. what is it? liz: i think it was waiting for an e-mail from one of my viewers saying liz, you're nowhere near as good as charles is. right? you are bookended by me and cavuto. charles: tell me about it. liz: thanks, charles. [ speaking simultaneously ] liz: stocks are, yeah, they are slipping as the divide on capitol hill over the gop's new aid package now seems wider than first thought. this as new yorkers who pulled up their stakes to