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tv   Making Money With Charles Payne  FOX Business  October 13, 2020 2:00pm-3:00pm EDT

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♪. neil: all right. mitch mcconnell is still pushing a half trillion dollar relief bill for the virus. that is far less than republicans wanted. far less than even the president wanted. no-go for democrats. we'll see how that goes. here is charles. charles. charles: like "whack-a-mole." thank you very much, neil. good afternoon, everyone. i'm charles payne. this is "making money" and breaking right now the markets catching its breath after a dazzling session yesterday and signs of erasing the september pullback. there is a ton going on beneath the surface. we have all the market angles covered for you today. apple unveiling the new iphones in a virtual event at this hour. we'll have a complete wrap of the big news coming right up. president trump back on the campaign trail as his supreme court pick getting grilled on capitol hill, telling senators she is her own judge.
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>> i want to be careful to say that if i'm confirmed you would not be getting justice scalia, you would be getting justice barrett. charles: we'll have reaction from the white house on that and more. all of it coming up on "making money". ♪. charles: a day after a monster session own the market today feels like the dreary weather in new york. i think the technical term for it is blah. strange anticipation. you have two major events that could provide catalysts not only for the companies themselves but for the broder market. amazon beginning the two-day prime day. apple unveiling highly anticipated iphones and some other products. speaking of which technology is sizzling still after a pause, part of the reason i think goes beyond the hot products and services. what happened to all of the breakup risk? you remember that last week?
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congress released a 451-page report. democrats leaning heavily towards breaking up the gatekeepers of the digital economy. according to a report from mit congress flopped big time and failed to make the case. while the behemoths are enjoying enormous growth, but they are not meeting department of justice standard of two thirds market share that could constitute a monopoly. google 29% digital ad share. facebook 23%. amazon just 10% of digital ad share. with new products, services, no government breakup is the sky the limit for these companies? i want to ask courtney dominguez, payne wealth capital management, a group i'm not affiliated. some block, securities analyst, dani hughes and belpointe chief market strategist david nelson. david i know you own some of these companies. >> i do. neil: charles: here is the thing i think they have tremendous up
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side almost unlimited but you still think they could be called monopolies, right? >> i think they can. look at it this way, charles, when companies become more powerful than government and the elected officials that watch over them, you can bet they will find a way. to that point the sherman antitrust act you were talking about earlier, that was formed in 1890. it took out standard oil 21 years later. monopolistic power is not just about price but choice. anybody look on the program look at google search and not call it monopoly. not just price. facebook mark zuckerberg has dictatorial control over content. freedom of speech. they will find a way to make these companies smaller. charles: courtney say there are alternatives to those, to david's point from an investor if i'm in the stocks i kind of dig they do have so much power. as a citizen maybe not so much but you're in the investment
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industry. where do you come out on this? >> yeah, i mean, i do want to look at these also from a price standpoint. we're seeing these things are trading at really high valuations they will have to continue to do things to make sure they're keeping up with the earnings expectations of these companies and can they keep going up to your point? probably. i think if you look at the late 90's, early 2000 we saw the tech bubble we saw companies at lofty valuations we thought they can't last but it did for a while longer. you want to look could it still go up? yes. there are a lot of other places in the market that are a lot cheaper right now and could be food values as longer term investor. i'm not bearish on these things but i do think there are a lot of opportunities to take a look at. charles: i know, dani, you're more specifically concerned about google here. >> yeah. i mean with google there is a large integrated ad tech service provider and they have amazon,
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facebook, at&t running right behind them and about last year 71% of revenue was actually from ad tech it, uses the web browser chrome, which is the most popular in the united states as well as android to drive that growth. the reason this gives me pause as an investor because in january google and and agreed they would phase out their cookies they use on chrome which would drive a lot of revenue. they also recently said if they're required to eliminate these cookies immediately because of any kind of governmental intervention, that could impact revenues by about 62%. you know ad tech is very complex. the way they do business, that is the way they do business and i think congress of the united states and many other places could actually tell them to do things differently. so that is where i see some risk. charles: all right. well you know, the incident we do know has had a huge advantage
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during the covid-19 crisis. consumer spending is better than expected overall. retail sales coming out on friday. courtney, i want your thoughts particularly as we watch two of the big names, right? apple which is starting to sink here, so far, people just not impressed i guess so far with the presentation but that is certainly one of the big names that we key off. what are you expecting? can the consumer keep this going? >> i'm actually very optimistic we could see good numbers come in. i think when you look at a couple of pieces of data, we just did get the cpi numbers come in. they are leading to showing that consumers are still spending. they are kind of moving beyond covid and starting to spend, for example, if you look out ever home spending on food, increased increased -- going down. people are spending on different things and still spending money. what is also kind of interesting, if you look at europe, for example, we saw the eurozone retail numbers came in. they hit and all time high. as we're seeing kind of spending
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across the globe, not even just the u.s. has been beating expectations i would not be surprised if we continue to see that when you look for those numbers earlier this week. charles: right. speaking of which, dani, after the close, yesterday, big news out of disney. an attempt to reach more customers. sort of direct to customer theme, wall street loves the news. they're restructuring. the priority again, is the consumer but how much of a game-changer is this? >> i mean we've talked about this disney plus channel being a game changer when they were still showing on netflix, right? it is amazing the growth that they have had just since november of last year. 60.5 million subscribers. compare that to netflix had a big huge head start on them, they have about almost 200 million subscribers. this is something that disney said they have been, we were anticipating but the covid crisis really pushed this forward. i think it just shows us that the experiential disney is going
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to be waiting for a little while and it is really just direct to the home. they will focus all their efforts on that. charles: we had a big institutional investor, i think it was van lobe, actually called out disney. get rid of the entire dividend and focus it all on content. so they're not going to win this thing just because they're disney. netflix has a pretty big lead. circle back with you, david. i know your concerns about these companies being monopolies. by the same token though, i know you own a lot of them, you also have apple and amazon what do you make of the action so far considering how big the day is supposed to be for both of those companies? >> i started checking past couple days we started to moving back to the large cap secular growth. that actually had me concerned because i view that as more of a defensive move. so that point, they are great companies. they have fabulous products. i think they will be regulated down the road. some may be smaller. i think the most likely to be
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broken up to dani's point is google. their dominance in search. the fact that i think the ceo of this company kind of lost control. it is actually the worst performer of the large group. charles: let's go to earnings, guys. earnings season beginning now. it is starting to pick up, specifically banks. dani, jpmorgan, citi beat on the top and bottom lines. i thought it was amazing, the loan loss provisions down dramatically and yet these stocks are getting hammered yet again. what gives with these stocks? >> well, preopen they were actually up. when the news actually broke they were postively trading. since then they have actually both traded down. citi down 4% last i looked. jpmorgan by almost two. charles: right. >> you know i think that financial activity and the market activity are still going to boost these banks over the long haul especially through corona, through really low interest rates. i think they're going to make up for it in the activity in the
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marketplace. that means ipos, asset management, mortgages and any kind of activity on the financial side that is really driving the consumer. i think that even though these beats were really great, year-over-year, some of these numbers were phenomenal. from jpmorgan, consumer banking was down but trading and investment banking commercial banking all much higher. same thing with citi? charles: but that always feels gimmicky, right? a bank is a bank. all the other stuff they're doing, maybe they have lost their way. certainly the market thinks so. i want to pick up on that with you, courtney. talking about interest rates. these yields have been creeping up. the 10-year yield i think could be on its way to maybe much higher from here. i think it benefits stocks. what happens if we do see buying yields continue to green up like this, courtney. >> i'm glad you bring that up. i don't think it is getting enough attention that people assume interest rates are low. we are starting to see the
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10-year treasury rise. we're just talking about the banks which are still a good valuations. they're not still performing as well as some other sectors. but the increase in the 10-year treasury is really good thing for the banks. that will help their net interest margin. charles: all right. >> we're seeing them come out beating expectation. charles: okay. >> specifically a few years like the banks are a good opportunity right now, given information and they're cheaper than rest of the market. charles: i'm glad you guys like the banks because at some point they will have to react to good news without going down. courtney, david, dani, always a pleasure. thank you very much the coronavirus is changing how we live and work we know that but it is also changing where we live. for the most part a massive exodus out of big cities. we have some more on that coming up president trump on the campaign trail, shaking his tail feathers having a grand ol' time 11 days after his coronavirus
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diagnosis. we have white house deputy communications director brian morgenstern next.
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charles: president trump set to hold a rally in a battleground state of pennsylvania tonight. it comes just 24 hours after he held his first rally since being
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diagnosed with coronavirus. joining me now white house deputy communications director brian morgenstern. how is he feeling? some people said he is too early to be back on the campaign trail. sounds like he is having a lot of fun. >> charles he is doing great. he is well above of the time the cdc recommends. his doctors cleared him. he is not at risk of virus. he tested negative. the doctors put that out as well. he is raring to go. he wants to visit the american people as much as possible. they're ramping up to do multiple rally as day as you saw from last night. he has his dance moves ready to go in every swing state from now to the election. the american people are so happy to see him out there. charles: there is two things. the crowds, the crowds are absolutely amazing. you know the media gets to
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complain about no masks as a way of not really reporting on the magnitude of the love out there for president trump. also, this schedule. can he keep up the grueling schedule? there is no doubt it pulled him over the finish line four years ago but can he keep this up? >> charles, the president is significantly older than i am. he has got about 10 times as much energy as i do. he is unstoppable. and he is competitive guy. he knows it is important to win this race. he knows the future of the country is at stake. the radical left is still trying to remove him from office. there is rioting in certain places. they're tying to pack the supreme court. they're trying to take away fundamental rights, free speech, religion, the second amendment. this is a critical, critical time. and the president knows that. he will not let anything stop him from taking his message to the american people. charles: brian, get your thoughts what president trump is saying about judge amy coney barrett's confirmation hearing. from everything i've seen today,
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she is absolutely crushing it. >> yeah. she is a terrific judge. a terrific person. a working mom from the midwest. a wonderful symbol for our country, for young women. someone to look up to. a fair-minded judge who will interpret the constitution as written which is really what all americans should want in a justice. the president has made a superb choice. she is demonstrating just how great of a choice she is through other conduct in these hearings and it is really a testament how far off the deep end the left has gone, this position we should uphold our fundamental rights and interpret the constitution as written, the fact that has become controversial for the left is really a critical fact here. charles: yeah. so interesting, that some one who is reading a teleprompter for a living to watch all the lawmakers try to do it. she has a notepad with with a little note at the top and everything else is straight off the top of the head. i have to ask you about this before i let you go.
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two big losses for democrats challenging voting rules. one in georgia. one in texas. one ruling preproposal to relocate voting machines in texas. reinstating order of drop-off sites. the governor made it limited, fewer. we see a surge in early voting. how critical is this outcome, will it add to any controversy? >> look, charles, as the president has been very outspoken on this, it is very important one person, one vote, that the votes are cast by citizens legally permitted to vote. not people who passed away. not people ballot harvesting in a way that is collecting ballots. we saw some investigation in minnesota about ballots being purchased? i mean, goodness. charles: right. >> this is scary stuff. the president's been trying to shine a light on these things and encourage poll watchers to go out there to make sure we're having a fair election. it is really critical whoever
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wins the race is duly-elected president. that is an important thing. the president will keep speaking up on that. charles: amen. brian, great seeing you. thank you very much. we'll talk to you again very soon. folks, do not forget, i'm hosting a virtual town hall. it is called "america votes together." october 27th, 2:00 p.m. eastern. we'll be days away from the election. our economic future definitely on the line. send us your questions about the economy, investing the housing market everything. message fox business on facebook or instagram or email us at it is apple's big virtual launch. it is underway right now. we're monitoring events and bring you the headlines. looking at stock people are not thrilled yet. they are thrilled with the biotech industry. biotech and ipos are through the roof. what names should you be looking for? people keep moving during the coronavirus pandemic leaving the big cities. here is the big thing. where are they going?
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tweet me your thoughts, where would you go if you had to abandon new york city? cvpayne. we'll be right back. in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
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♪. charles: no secret americans are moving during this pandemic but now we're getting an idea of just how many. this year has seen 4% total increase in the amount of people moving. 2% being permanent but it is not only about how many are moving but where they're headed. liberal invasion of red state america author kristin state state joins us right now. americans are flocking to small texas towns at the top of the list. kristin, you called this, you talked about the exodus even before the coronavirus came but you've been worried too what these folks bring with them, right? they bring sort of the blue state mentality in the red states even though they couldn't afford to live in the blue states. >> that's right, charles, i had
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no idea that the trends i was following were about to blow up on a unprecedented level. a perfect storm of covid, economic uncertainty and increasing urban crime prompting waves of americans to leave big cities to rural areas. this is accelerated by work place attitudes that are open to remorning work. there are no hard data for this year but preliminary real estate data suggest a lot of these moves are permanent. new york city alone is expected to lose a quarter of a million people to up state for good, with two million moving to places like florida, texas, rural new england. most of the people are leaving -- [inaudible] new york city was also phasing a massive hole in its budget. charles: so, here's thing i find really interesting. we had a list of rich new yorkers fleeing the covid
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virus and riots can about tote hamptons. the rest of americans are heading down to texas. i find it so interesting people leaving these areas, before this year, could no longer afford to live in the cities, can't compete where you have income equality is through the roof. ironically they will go to places like georgia, texas and they turn these red states into purple states. what is it about them not getting the complete epiphany? imagine pulling up your roots, the main reason you have to leave you bring that with you? >> it is very frustrating, a lot of people are going to where the jobs are. we're seeing not just people leave blue states for red states but also corporations. when the corporations leave, they bring jobs and people leave for the jobs and also for the cost of living but they're not really necessarily thinking about politics. charles: right. >> think about it, charles, less leaning urbanites could really
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change a swing state like florida. florida was decided in 2016 by fewer than 100,000 votes. so these people moving from places like new york could have a big impact in these critical states. charles: yeah. i guess the thing is, you hope when they get there they like what they see and maybe not want to upset the applecart. because again, they had to flee, wherever they came from for reasons. a lot has to do with poor political policies and economic policies. kristin, thank you very much. always appreciate it. well, folks you know we talk about big tech all the time but biotech and ipos two of the hottest sectors in this market this year and then when you combine the two we're talking scorching. so far biotech ipos raised more than $7 billion. that is 150% increase from this time last year. the names you need to watch out for, joining me, barbara ryan, from barbara ryan advisors. barbara i have to tell you, you've been on with us a few times, you have really called
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it. you've been spot on. it has been a record shattering year for biotech. give us the good, the bad and what's next. >> okay. we've seen over this year over $32 billion in new money coming into the space both from ipos as well as follow-on deals. these deals have seen increasing valuations. they have been up-sized, they have outperformed the markets. with the old adage money chases returns, it is no surprise that people continue to chase this sector. we've also had a ton of m&a in the space. over 125 product driven deals and half of them have been covid related. the fda has helped us. so we had 45 innovative new drugs approved this year, which is four more than all of last year. there is still 21 hopefuls in the waiting with the decisions pending by the end of the year. another big thing we've seen this year in the ipo market -- go ahead, sorry.
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charles: no, you know, listen you're on a roll. i didn't mean toe to interrupt you, last time you were here you said etfs. it's a big space. it is hard to know which ones to own. i look at individual names, how much they rallied this year. it is not just covid names. are there companies standing out either above their rivals or maybe even potential acquisition targets? because this consolidation phase looks like it will continue? >> yeah. one thing i would mention, i willance your question, we've seen this spac phenomenon. we've seen on average about $400 million raised by each spac which is a special purpose acquisition corp. we saw vesper health care with brent saunders come out and these companies all looking for products to acquire. so that is going to continue to fuel this whole thing. i mentioned a company, it's a client, i is an io company. half the ipos are io companies.
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half what is run something oncology. so that is important the i think there is a company black diamond therapeutics that has a large platform, raised $250 million in an ipo and has really strong science and people behind it. but i do think for the individual at home, you know, the etf is the way to go because, you know, these companies, as you know can be very binary. charles: sure. i mean, listen you put them out there. there is a certain risk attached to it. we have an audience that likes to swing for the fences as well. barbara thank you very much. i suspect that this will continue as particularly some vaccines get approved. 2021 will be equally high. >> absolutely. >> thank you for your knowledge as well. holiday shoppers flocking to amazon for the first-ever fall prime time but they're not the only ones out there with big deals. we'll tell you all about them. apple unveiling the latest set
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of iphones moments ago. we have details what you need to know, what it might mean for the stock. we'll be right back. when i was in high school, this was the theater i came to quite often. ♪ the support we've had over the last few months has been amazing. i have a soft spot for local places. it's not just a work environment. everyone here is family. gonna go ahead and support him, get my hair cut, leave a big tip. if we focus on our local communities, we can find a way to get through this together. thank you. ♪ if you are ready to open your heart and your home, check us out. get out and about and support our local community. we thought for sure that we were done.
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call now and get your free infokit ♪. charles: it has been called apple's most important event in years. its virtual launch of new lineup of iphones wrapping up moments ago. the world's most valuable company unveiling 12 iphone models and done a major redesign of the iphone in years. susan li joins us live from the event. reporter: this is introduced by tim cook. listen. >> we design our products to work better together seamlessly and intuitively. we also design them to be secure and to protect your privacy because you should be the one in control of how your personal data is used. we applied these principles when
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we created homepod. homepod is a breakthrough speaker that combines precise high fidelity sound with the intelligence of siri. reporter: that was surprise wave that apple started this presentation but we also of course got those four, 5g capable iphones, three sizes here. that includes the biggest screen size ever at 6.7-inches. a mini iphone at 5.4 inches. we have a range and price from 699 for the mini, up to 1099 for the 6.7-inch pro max as expected. however you see some disappointment of the stock price because of the ship dates have been pushed back because of covid-19 and the impact on the production lines. so right now looks like the preorders are scattered across from october 16th all the way to october 30th. then ship dates could go from november 6th to november 13th. as for the homepod mini.
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that was a surprise way for apple to start off the presentation. this had a lot of investors scratching their heads. initially you saw the stock drop 2 1/2%. the homepod mini is a mini speaker they introduced, cheaper at $99. also shipping on november the 16th as well. i would say overall it, was pretty much what we had anticipated. i guess the ship dates were a little disappointing since it is pushing it close to when the holiday season starts especially thanksgiving and black friday but we didn't those over the ear headphones that were supposed to be apple branded. that was a bit of a disappointment. we got the homepod and four of those iphones that we anticipated. charles: all right. susan, thank you so much. so far wall street is not that excited. the question of course is will this spur a new wave of sales or will limited 5g capacity hold back all of these grand plans? i will bring in diligent corporation vp shana glenser.
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there is so much to choose from. where do we begin? so far do you think the hype has been justified? >> well, there certainly was a lot of hype in today's session. i think, i think that some of the announcements around the varied lineup of iphones met the hype, having a, you know, smaller mini iphone. you know, met expectations and i think that the issue is, you know, did it exceed expectations and really live up to the hype? i don't think that it did. i think that is what we've seen in the past, particularly around the stock market, when apple sort of meets expectations even if it is hype, it doesn't react well in the market. charles: you know, i'm not a big tech person per se. i invest in a lot of tech stocks but i'm not a user per se. so when someone says home pad, the mini, the 12-inch, i'm
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trying not to yawn. where was it supposed to knock this out of the park? what part of today's announcement was supposed to be the grand slam? >> well i think people were looking for a little more, somewhere on the peripherals. will we see new, you know, airpods studio? are we going to see more than just the expectations of the 5g announcement. that is where it didn't play out and the homepod, just seems like an odd choice to open with. so i think that what we got was, you know a throw back to the iphone four and some of the stein, unbreakable ceramic on the lens, focus on environmental impact. i think a big disappointment which you would even understand as someone who is not into tech they're no longer shipping an ac adapter with headphones with the iphone, you're paying
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iphone prices you get less shipped to in your box to the home. charles: my wife was at the apple store. everything in my house uses everything apple but me. i was informed. she told me she was really disappointed. i have less than a minute to go. air pads, apple tv device not announced. how big of a deal was it or one of these things this has been the event of the year even more so this year and people wanted it all? >> if people wanted it all i think covid probably put a damper on many of the big announcements that apple was looking to release. while there is some disappointment. we'll see how the smallest and lightest 5g phone plays out in the market when available for purchase. i think that there is still a lot to look forward to from apple. charles: hey, it has been a long time, my friend. great seeing you. >> great to see you. charles: all right. by the way, folks, i'm still holding apple stock. i've had it for years.
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amazon prime day finally here as well after being pushed back from july due to the pandemic. analysts are predicting amazon will make $10 billion over the next two days but not just amazon anymore. lauren simonetti joins us with how big this event has become. lauren? >> yeah. there are sales everywhere, charles. i've done some shopping today. for amazon, this is your sixth of prime day, $16 billion was generated since this shopping bonanza kicked off back in 2015. yeah, as you noted it could raise another near $10 billion this year. that would be a record. with prime days is attempting to do pull forward holiday sales into october, dictating how and when people shop. they have at least 200 retailers competing right now, offering black friday-like discounts right now. several of the copycats like big stores walmart and target,
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they're competing ways amazon can't. that is in speed. they're harnessing vast network of stores to accommodate curbside pickup. you buy them online, an hour later, immediately pick it up right at the store. that saves the customer time. that saves the brick-and-mortar money. another way to compete with amazon, sell what they can. listen. >> our own brand, whether a brand making something for a year, very special unique, that is what makes things different. if you didn't combine exclusive products with a real personal customer service then you can compete against amazon. charles: in fact some of amazon's best deals so far are exclusives like $60 off the ring video doorbell 3. now it is $140. half off the fire hd tablet, now $80. you have to be different and you have to discount. >> holiday season is 50% longer
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about than typically longer it has been but the deep discount is longer. there are deep dispoints early in the season. >> yeah the earlier the better here. what that does guaranty the item makes it under the christmas tree. it keeps you out of the stores. you don't want a mass amount of people flooding the stores in late december for the last minute gifts. in fact i was looking at data from glass door. we're actually seeing these shifts in how we shop in the job market. if you look at job seekers applying for e-commerce jobs, whether that is warehousing or manufacturing, they're up 2 10%. not many people are looking to actually work in a store right now, charles. charles: all right. lauren, that is a lot. i got the haggling part. i've been doing that since i was a kid down in delance sy street. lauren, thank you very much. we are approaching 20 years now, folks. i don't know if you thought about this, 20 years since the
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uss cole was attacked by terrorists. i'm speaking with the man who commanded the ship on the fateful day after the break. even with the next generation of video games on the horizon, pinball setting new records on the pandemic. what has consumers longing for the old silver ball? can't wait to tell you. we'll be right back i knew about the tremors. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong...
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charles: exactly 20 years ago this week al qaeda attacked the uss cole in the waters off yemen, killing 17 soldiers, wounding 37 others that attack forever changed the way the u.s. navy operates at sea and at port. for more how far we have come as a country since the terrorist attack, i'm joined by the man who commanded the ship on that day, kirk lee polled. commander, thank you very much. get your thoughts. october 12th, 2,000, long time ago but resonates loud today as it was then. >> charles, yesterday the navy was kind enough to hold a beautiful ceremony peerside for the uss cole. they not only took time to remember the 17 sailors that were killed in the attack but truly most important they honored my crew. they were the heroes that save of the the sink from sinking. they saved many shipmates from
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dying. the navy recognized that. they also recognized through their actions, today's sailors today, enjoy the benefits of those lessoned learned as they go out into the fleet. as they continue to safeguard our nation around the world on navy ships. charles: what is the main lesson? is there, is there sort of a, we're never out of danger? we never should get comfortable no matter what port we're in kind of the lesson there? >> i think the biggest one, charles, you briefly touched on it, is going to be that we cannot give safe harbor to terrorists or those who do americans harm anywhere in the world and we clearly exhibited that when president trump took out soleimani which was a strike that was long overdue through several, through at least two administrations. and the fact is we need to make sure that if you harm or you kill an american we're going to hunt you down. when we find you, we're either
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going to capture you to bring you to justice or we're going to kill you. there should be no safe harbor. i think from the uss cole we learned a very powerful lesson, you can'ting north that. >> right. >> when we did 11 months later we had the brutal attacks of 9/11. charles: commander, i also want to get your take what is happening in the armenia azerbaijan conflict. they have been fighting for control over the region for decades but that fighting has escalated in the last month. we now know turkey backing asker buy as they say it has echoes of hungary and czechoslovakia in world war i. it could have a global impact, right? >> it could. you don't have near the number of large players. when you look at world war i, who was aligned between germany, austria hungarian empire,
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russians, great britain, france, those were the big players back then. now it does have a regional conflict with a big player, you have russia involved, you have turkey involved. you have israel involved. the region own has been somewhat after powderkeg for a long time. clearly this is a lot of issues there. 40% of israel's oil comes from azerbaijan. they have been selling them arms. turks are aligned with azerbaijan and russia is with armenia. that is counters with the relationship with putin to stick it to the west's eye. this are definitely opportunities for ripple effects. hopefully it will not explode. charles: i can tell you armenian-americans are crestfallen how little attention this is getting as well. commander, congratulations for what you've done for this country and for always looking out for your sailors. thank you so much. hope to talk to you again real soon. folks, we'll be right back.
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charles: growth stocks are trading a little today but small caps having a great october with more good news today. small business optimism number came in much better than expected, rallying to pre-pandemic levels. there's still a large amount of anxiety but small businesses are gearing up for an increase in
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demand. this as the russell has been surging this month. great news for all the small names that make up that index. i want to bring in key adviser group ceo eddie ghabour. there's a lot of names on the russell that made mind-boggling moves. the kind of moves if you bought those stocks, it would change your life. question is, can the russell keep this going and if so, what stocks do you think might lead the way? >> i actually do think the russell can keep going. as you know, i'm a little cautious heading into the election but post-election, i think small caps have a lot of room to run. they have lagged most of the year just until the last month and many times when coming out of a recession, small caps will have a tendency to really surge. i think it will be a very good sign for the economy if we see small caps. for small cap exposure for our clients, we really try to give them exposure to the etf, we have the schwab etf to give them a broad range in regard to that. me personally, i have traded
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penn national myself. i told you last week i really like that company from a small cap space. another company i probably never talked about that i have traded personally as well, too, got a lot of risk so it's not for everyone, digital tribune, the mobile app space. they have had a monster year and their balance sheet is very strong. again, they are not for everyone, they are a little speculative but i'm bullish on small cap and business for next year. charles: in the meantime, earnings season starting to pick up here. what's interesting, call volume options on these companies that are reporting in the morning is just absolutely mind-boggling. but we still have the names that reported today, all of them are really down except for maybe blackrock. do you risk buying any of these names, bank of america, wells fargo, united health, pnc, any of them ahead of these -- despite the call volume ahead of tomorrow? >> i do not like the banks here, until we see an increase in the
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ten-year treasury. they have a really tough business model except for the wealth management space. i do like united health care, those names, i do like that company that's been a staple in our portfolios for our clients. great balance sheet. i think you will have limited volatility there but right now, i don't like the banks where we sit right here. charles: yeah. by the way, united health has had some amazing reactions to earnings of late. they have been knocking the cover off the ball. before i let you go, i always like to get sort of the main stock that you like, something you can share with the audience as we head into the final hour of trading. >> the final hour of trading for today, because of my concern with the vix and the volatility, would be mcdonald al's. that's a great company for someone with risk tolerance to own. you have limited volatility, you have a news differenice dividen upside. mcdonald's would be my call today for the last hour of trading. charles: restaurant stocks are
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doing very well today. i kind of lean more towards chipotle but i dig where you're coming from. thank you so much. so it's been a side ways market as i hand it off to my colleague liz claman. i think all the action's going to come in this last hour of trading. liz: thank you for just simply teeing me up on that. thank you so much, charles. indeed, we have huge news here. super tech tuesday, maybe, i don't know, a third of the way over but the action is just beginning. listen. >> today is the beginning of a new era for iphone. today, we are bringing 5g to iphone. liz: in true apple fashion, tim cook pulling down the curtain or rather, flinging open the big white doors. did you see that? to the tech giant's future. but shares of the silicon valley kingpin selling off just a bit despite its new four tricked-out 5g iphone 12s with qu


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