tv Making Money With Charles Payne FOX Business October 15, 2020 2:00pm-3:00pm EDT
neil: all right. day four of the judge hearings are going on right now. they're about to wrap up. she is not. there. witnesses and supporters are. wheel see what happens. here is charles. charles. charles: good afternoon, everyone, i'm charles payne. this is making "money." breaking at this moment, markets are paring their losses. this is another listless session that has me wondering what. what will it take to get investors back in the mix. new threats of lockdowns cast a shadow over european markets. what changes should you make to your portfolio? president trump on fire our air this morning after social media
blocked a story on hunter biden. >> the whole thing is insane. joe biden is a corrupt politician. i've been saying a long time. everybody in washington knows it and the mainstream media doesn't want to cover it. charles: we'll get reaction from a "new york post" editor coming up. trump sounding off on the stimulus standoff. >> i would go higher. go big or go home. i said it yesterday, go big or go home but nancy pelosi doesn't want to give anything. charles: mitch mcconnell also throwing coldwater on the idea. arizona congressman andy biggs joins me at the bottom of the hour. all that and so much more on making money. ♪. ♪. charles: the market woke up on the wrong side of certainty today. i guess it is appropriate because today is national grouch day. the guessing game runs amok. there are a lot of influences on the action or inaction today. i think the better way to look
at the market is not the news because none of it is really new or newsy per se but the question is, what's going to be the next catalyst for this market? we know the best catalysts are always a growing economy and strong corporate earnings. earnings season is getting out the gate pretty well but we've seen mostly selling. new headlines. resurgence of covid-19 cases, resurge of lockdowns in europe and boris johnson use a so-called circuit break they're would lock down the entire country. the ftse down big time overnight. the swiss off 2%. but most investors are even more weary i think of the european bond market where yields were plunging. the financial media focused on the notion that stimulus talks are faltering. i've been saying the economy and the stock market needs at least one more stimulus ff there was a
surprise breakthrough that would send the markets higher. seems like they're consigned to a postelection deal. in fact more last week than last couple months, almost 900,000. if congress has a heart, if congress has a pulse, we would get a deal. we know for a fact president trump wants a deal and is willing to go higher than his last offer of $1.8 trillion. what is bothering the market most? where do we go from here? i can't to ask keith fitz-gerald, the fitzgerald wealth group, michael lee and. from the 30,000-foot view and move to the individual opportunities in the market. ranking, if you guys will the issues that you think are bothering the market most in the last 72 hours and we can start with stimulus, keith. how much do you think the saga is really dragging on the market at this point?
>> i think it is dragging a lot, and to your point i would add a third thing. america wants congress to do its job. numbers are almost irrelevant. earnings are out the door. the people want to get back to works, they need hope, confidence, need a vaccine, politics to settle down. when those things happen the market will take off like a rocket. charles: michael your thoughts on the impact of just asking you the impact of the stimulus talks. i believe it has been a few weeks now where people kind of believe it won't happen f it does, great. we're resigned to the fact it will happen after the election? >> charles, i've been saying this on your show for a little while now, enhanced unemployment benefit ran out at the end of july. nobody seeped to be really in a mode of action until sometime in the middle of september. we'll not see anything until after the election. i think there is a good thing we'll see something after the election. what i think is really moving markets right now are your sorts of surprises. we've seen very few.
you combine that with really aggressive call buying going on in the background that is creating some short squeezes from technical aspects of the underpinnings of the market that squeezes the market higher and higher and that gets a little bit exhausting after big moves. we're seeing a selloff from that. i think today you're seeing the resumption of buyers coming in the market buying on the dip. i would be a buyer on a dip of this market and i would also add that unemployment number this morning i think people should look at it the wrong way. i'm focused on the continuing claims rather than initial claims. charles: continuing claims dropped to 10 million from 11 million. >> sure. charles: michael, right. let me get to david, i want to go over all those things individually if we can to really get an assessment here. michael talked about those extra jobless benefits. let's not forget president trump
found the way to give the american public extra money. 45 states have finally taken him up on that. that will run out soon too. the impact of a do-nothing congress right now, particuarlily with stimulus? >> yeah. charles, it is a big deal. this is a headline driven market and i think the market can only ignore bad news for so long. continually today was another bad news. we're saying we're discounting the jobless claims. 900,000 jobless claims, almost a million americans again this week. that's ridiculous at this point we're still seeing those numbers. it is really unfortunate to see. we have to decide are we investors or are we traders? if we're investors we have to turn down the noise. if we're traders stay tuned what is coming out of washington. respect the technicals. to me this is technical driven market you want to watch those levels. charles: although i love what you're saying there. sometimes you're an investor but becomes a trader when the market becomes too volatile and you can't take it. look at the rising covid case
and we're talking massive lockdowns in europe and how they're hitting the market. president trump is against lockdowns but that doesn't mean states wouldn't shutdowns. ironically the states with sky-high unemployment states already would probably be the first. michael, let me go back to you. you're making changes to your portfolio. are you doing anything with the idea maybe in america we'll see some of these states go the way of europe and start to make, you know, lock down the states again? >> you know, charles, i think quite the opposite. i think what you're seeing play out in sweden and then what you're seeing play out in the rest of the europe when you lock a society down all it does is prolong the pain. take it up front on the chin or prolong and spread it out. i think lockdowns are an absolute mistake. you protect the haver in ann. election day is coming up. day after the election you see massive opening up in the u.s. while protecting the vulnerable. we'll go other way here.
if they want to do that in europe and wreck their economy have at it. charles: keith, for the most part you've been very optimistic throughout all of this. you've been a very steady hand. if we see some states go the other way, i don't disagree with michael but we've seen states shut down pretty quickly throughout this whole thing, does that change anything for you as we head into 2021? >> it makes me cautious but it doesn't change my optimism. thank you for recognizing that. because the path forward is to find those companies that can grow despite a lockdown, despite politics, despite any number of things. i'm refining my portfolio, a process i call the best not the rest. looking at apple, microsoft, jpmorgan and companies that are leading the class and can succeed practically no matter what happens next. charles: all right. almost sounds like a tina turner song. you may get a phone call but i like it anyway. the stock of the day for dubious
reasons. fastly. shares rallied from 10 bucks to $135. it is getting smashed after guidance after the close, blaming on one customer, tiktok. the financial media taking a shot at robinhood traders. i personally take the notion only robinhood traders are getting hurt today, this is the beginning of comeuppance. seems like wall street, the financial media anytime they can they push out the small investor. what are your thoughts? >> you know i agree with you there, charles. i think generally across the board retail investors getting hurt with that stock. the rise of that stock in particular was somewhat ridiculous. so i think i'm not surprised to see the pullout we're seeing now. the outlook is good for the company. i think you will continue to see traders, even robinhood traders, general retail trade the stock. just for me i think there is still downside left. i'm a buyer at 75. i don't like it right here at these levels. charles: right. by the way, i will be right in
there with you, my man. i traded it twice since it has been public. baird had a buy and couple other major firms. it is not some robinhood trader in the basement, someone in their mother's basement trading in the markets. i need from you guys quickly, go old school, buy, sell or old, should investors buy the growth names, apples, amazons of the world? michael, let me start with you. do you still like these names to pace the market? >> charles, you have to, no matter what happens in the economy over the next couple years they will continue to grow their companies and grow shares and there is no growth elsewhere in the world. you will always perpetually overpay for good growth names. charles: right. david, buy, sell or hold? >> apple is underwhelming. i'm a buyer at 105. amazon i like it at 3,000. so i'm a hold. charles: all right, keith? i'm going to put my foot in my mouth saying stay away from amazon but prefer apple. i think it will double within the next 12 to 24 months.
charles: all right. gentlemen, that was a lot of fun and very informative. we needed that on a day like today. keith, michael, david. thank you all very much. president trump holding a campaign rally in north carolina and fired up about social media circling the wagons around the biden family to limit the spread of "new york post" stories about hunter biden. we have the "new york post" op-ed editor next. he is next and not holding back. also at 2:30 trump telling fox business he wants to go big on stimulus but will republican lawmakers go along with the big price tag? arizona congressman andy biggs gives us his answer. he is coming up too
♪. president trump: twitter, facebook, they're like, really a massive campaign contribution. if this is a third arm of the dnc, the radical left movement. and that's the biggest problem our country has. charles: president trump firing back at the social media giants after the word that twitter blocked his campaign account. after blocking access to an article about hunter biden's connection today. all of this started yesterday when both facebook and twitter
limited access to an article in the "new york post" about the democratic candidate's son and possible corrupt actions. the president is not the only one fired up about this. i want to bring in "new york post" op-ed editor saram amari. first of all i want to say congratulations. all of sudden you got this story about hunter biden, everyone knew about the allegations but you have more nuanced details. feels like half the country is rooting for the "new york post," how does it feel being in the eye of the storm, social giants going after you and probably sending a message to everyone else? >> charles, thanks for having me. i can't take credit for the story. all the credit goes to the news reporters and editors. i'm been using my social media account to speak out.
one hand being eye of the storm but on the other hand it is very disturbing to me and to us a piece of reporting we have, that has, very transparent about the source. very transparent how we came to the information that we were able to obtain and that is far more solidly source than any number of stories that are anti-trump appeared in left-of-center media over the past four years that are just based on hearsay and unnamed sources upon unnamed sources. they collapse under factual scrutiny. yet they were none censored by the social media giants. very interesting to be eye of the storm. who are the americans who are not hearing this reporting that we've done? that is concerning. should be concerning for all americans including opponents of the president i would hope. charles: right. so one of your tweets says, this is a big tech information coup. this is digital civil war. how can you fight, how can
traditional media fight back against these behemoths? they control everything and they're not intimidated anymore. they're not even acting, like a year ago, two years ago, they sorted acted like they cared. now it is pretty clear they don't. >> you know, the person, the facebook staffer who announced that facebook was quote, unquote reducing distribution of our story, was a guy who worked for senator barbara boxer and for the democratic congressional campaign committee. it is so blatant. the best we can do is to again do our best to get our story out this. to be as transparent as we have been about the sourcing, be meticulous and fair as we have throughout the process. charles: right. >> as you know the biden campaign hasn't really disputed the core facts. they put out a very careful statement dancing around it, attacking the fact that rudy giuliani was the source for the story and others.
so again it puzzles us so many other stories, like for example, the stubborning perjury story that buzzfeed wrote immediately shut down bit mueller team, you can still post that story even though it was utterly decimated under factual scrutiny this is alarming. charles: right. it is alarming and double standards are there. we did get something from twitter ceo jack dorsey. he responded yesterday to the dust of up saying our communications around our actions on the "new york post" article was not great and blocking urls sharing via tweet or dm with zero context why we're blocking unacceptable. i got to go. it didn't feel like he was sad about the actions they took against the post yes and today. just how they did it. they could have been more transparent. feels like he is justified in the actions that were taken. >> yes. and today the second story that we had today follow-up, that was
less about hunter's ukraine dealings but more of his chinese regime shenanigans also is now blocked. cannot share it in direct messages. you cannot share it on the platform. he apologized, sort of sorry, not sorry kind of waive. charles: exactly. keep up the good fight. you have ignited millions of people. they're calling it the streisand effect. talk to you again real soon. president trump speaking at a rally in north carolina right now. let's take a quick listen. president trump: you saw that three months ago when he was on stage, he said to all of these very radical left candidates, who wants to give illegal aliens free health care and they all raised their hand. and biden didn't. you could see his right shoulder. it was. it was a corpse. i say he is the corporation. his shoulder -- he looked around, didn't know what the hell was happening but he knew
everyone else's hand was up. you remember that? he knew it was wrong. he has been there for 47 years. hasn't done a damn thing. he knew it was wrong but his right shoulder started moving. [laughter] and i said, i just won the election! i said, isn't that nice. you know what? we all have a heart but what that does, it brings millions of people into our country. they all want to get health care. they want to get education you want to give them. you can't do it. you can't afford it. that is what they want. they will not let that happen. it will decimate medicare and destroy the social security and everything else. when i'm president, no one will touch your medicare or your social security. [applause] under my leadership. charles: that is vintage president trump from back in the day, in the original run. he is having a lot of fun out there. 2:45, state department spokesperson morgan ortegas will give us details how the trump
administration was able to secure the release of two american hostages from yemen. the virtual campaign ad that targeted maxine waters and her mansion. the candidate behind that adjoins us next. >> you know where i am right now? i'm in maxine waters six million dollar mansion. you know where i'm not right now? maxine waters' district.
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charles: welcome back. i want to introduce you to the man running for congress as a republican against long-time congresswoman maxine waters. take a look. >> you know where i am right now? maxine waters' 6 million-dollar mansion. do you know where i'm not right now? maxine waters' district. yep, that's right. maxine does not live in her district but i do. i was born right here in south l.a., in a place maxine refuses to live. maxine does not drink our water.
she does not breathe our air. and while she sits here in her mansion, our district is in ruins. charles: joining me now u.s. navy veteran joe collins. joe, welcome to the show. fantastic commercial. in this time when just a couple of days ago nancy pelosi chided wolf blitzer for saying he didn't understand the people but that people in congress were elected to understand the people, it feels like all of them, but particularly some in leadership are certainly starting to distance themselves from the people they represent. >> yeah. you know what? it has been like that in our community for a very long time. my opponent has long been removed from the district although she claims to represent it. i think, showing the contrast between how she lives and the people in the district lives was very important in this election. charles: now you have what you call a five-point plan to fix the area.
you're saying, you're sort of campaign line is because we deserve better. what would you approach differently if you were elected? >> well one thing i would approach differently would i actively be involved in our communities. i mean you know, when you talk about the lack of representation that we've been having for a very long time, people did not understand, when you're in congress you have the act to improve our communities. so when we talk about our five-point plan which to support our small rebuilding our infrastructure, overhauling our education program, rebuilding our high schools, bringing financial literacy, improving the relationship between the law enforcement and the community bringing back quality jobs, these are basic things that's needed to run a productive community. charles: yeah. you know, joe, a lot of people are struck by how folks who have been in congress for a long time end up in those multimillion-dollar mansions and their districts don't change, right? the poverty levels are as high
as they ever were, illiteracy is has high as it ever been, hopelessness is as high as it is ever been. it is crazy people continue to reelect these folks, somehow become so much more wealthy as their conditions stay the same. what is that all about, and how can you break that? >> i think the biggest thing no one ever ran a good race against maxine waters. right now we have her up against the ropes. actually winning this race. we put a lot of effort into winning. i think one of the biggest concerns that i have when the president unveiled his 500 billion-dollar plan to rebuild black communities was that you know, the president said it best, maxine waters is a crook. she has been stealing from our community and from the government for a long time. i can only imagine if we do not get this woman out of office, the $500 billion that the president has to rebuild our communities is going to get loss just like the rest of the money he has invested in a lot of communities like baltimore,
chicago, los angeles, new york. we have to stop that from happening. we need great leaders who are going to represent our communities, represent the people, improve the quality of the life of the people who live in our districts. charles: yeah. there is no doubt, that message is being echoed in community after community. joe, fantastic commercial. good luck to you. thank you very much for coming on the show. let everyone know we reached out to congresswoman maxine waters but we have not heard back from her. at least not yet. don't forget i am hosting a virtual town hall. "america votes together." one week from election day, october 27th at 2:00 p.m. the economy, pandemic, obviously front and center for voters. businesses are opening back their doors. kids want to go to school. we have the real estate boom. there is bunch of money there. there are at love questions, you want answers. send them in i would immediately. email us at
email@example.com. growing calls overseas to cush the power of american tech. we have the details, and well about they could be successful. president trump telling our very own stuart varney he wants to go big or go home when it comes to stimulus but will his fellow republicans go along with the price tag? i'm asking arizona congressman andy biggs next. >> this was not caused by our workers and our people. this was caused by china and china will pay us back in one form or another and the money's coming back anyway. absolutely would, i would pay more - the world is in turmoil. been turned on it's head. of a possible recession..
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congressman andy biggs of arizona. just right not long after that, congressman biggs, senate majority leader mitch mcconnell rejected the package, any package that would exceed $1.8 trillion. the republicans have come a long way in all of this. where are we now? would you back a $1.8 trillion package if nancy pelosi said it was okay? >> if it was 1.trillion dollars, includes a whole policy issues refund planned parenthood i would probably oppose it. nobody knows the details of these. you have such vast differences between the senate plan, the nancy pelosi's plan with the white house is talking about. the good news is that they're negotiating. that is a positive sign but the difficult part of it is, you have not too many weeks before the election, number one. number two, you have do have
vast chasms between all three of those sides. charles: right. here's the thing, i'm sure you saw the wolf blitzer interview with her and you know, he just, he couldn't understand. you went to 2.2 trillion. 1.8 trillion for the average american sounds a lot like 2.2 trillion. the numbers should not be the point. the urgency is there. the initial jobless claims leaked significantly higher. they play this blame game. is it, congressman biggs they think the media will cover for them because they never will truly get blamed for this kind of stuff? >> that is my experience. the left stream media really does cover for them and provides, they're the propaganda arm, the pr arm of the democrat party. they usually step in and cover up. so it is extremely rare you would find wolf blitzer actually asking a difficult question of nancy pelosi but, if he did, it is not unusual for her to get a
little bit upset with him. that is what we saw there in that interview. charles: yeah. he caught her off-guard. she was upset about it. how dare you get off script, are you crazy? remind me of not nice to fool old mother nature commercials. you. >> you got it. charles: a brand new poll in your state, vice president biden leading president trump 49-45. in the same poll, mark kelly, leading martha mcsally, the polls are tightening. momentum feels on the republican side. i would say not only in arizona. how do you see the outcome of this unfolding? >> you're right in arizona these polls have tightened. i don't, look, just those two races i polled my distribute. i looked at other polls. i'm on the ground. i've been all over the state even last week. it is really tight right now. i think the president pulls it out. i'm hopeful martha pulls it out.
i believe she can. we're doing okay in some of the other races around the state as well. i'm also keeping touch around the country. you know what? charles, you're talking 30 races within margin of error on the congressional level. just depends how that presidential race will turn out. i think president will do really well. i think he is going to win. charles: well, he is hustling. he is doing that old hustle. he is pushing hard down in north carolina right now. congressman biggs, always a pleasure. thank you very much. >> thank you, charles. charles: meanwhile, folks, france and the netherlands are demanding tougher eu powers to curb u.s. tech giants alphabet, amazon. cheryl casone with the details. reporter: tech giants are facing threat of a european union attempt to break them up. while both france and the netherlands, want european competition authorities to prepare for new legislation that would take away market power
from the likes of facebook, apple and amazon a joint position paper wants regulators in brussels to take immediate action what they're calling gatekeeper platforms. the companies are on the screen. they argue the dominant position of these companies throughout europe gives them is a too powerful role in the marketplace and squashes rivals. on google, would ban the company promoting their own services. another would take apple users to take private data to different platform. i'm not sure how that would work. forcing big tech companies to sell off european assets or units. this is not the first time that europeans have gone after big tech. of course it is france that is lead egg the way. shocker. back to you. charles: yeah. i got a feeling we'll see big tech companies write some big checks. share, thank you very much, appreciate it. folks, i got breaking news for you. the urban brookings institute updating review of the biden tax plan. now they say it would bring in
$2.4 trillion in taxes. that is massive decline from $4 trillion that they modeled back in march. now the report finding that the largest biden tax proposals not included in the previous march update includes providing tax credits for new investments in domestic manufacturing, expanding, making refundable the child care, independent care tax credit, providing a refundable first-time homebuyers credit. in the campaign also gone on to promise so many things. that would mean i think this country would have to borrow a whole lot of money or taxes would indeed have to go much higher for businesses and so-called rich people. i want to bring in rebecca walser of walser wealth management. rebecca, you know i always said that taxes and the way the numbers have been crunched it just didn't match to my mind and it is interesting to see a liberal think tank if you will admit they're going to have to find money somewhere else. this is a defacto admission that
biden will have to find two trillion dollars minimum from somewhere else. it will probably come from big business or businesses rather? >> yes, charles. not only that, this is actually an admission at the vice-presidential debate pence kept harping on kamala, if they repeal the trump tax cuts they raise taxes on middle class earners. the timing is, urban institute, you know what? everything he promised on the campaign trail, now promising not to raise taxes on anybody making less than 400,000, that is lot less revenue than when we analyzed in march of 2020, just this year a few months ago. we have to redo the numbers. they have done the numbers, it is a 40% declined of increased tax revenue because they are going to offer all these giveaways. plus for the first time actually not raise taxes like they were saying they were going to do. so actually vice president pence
was right. this tax policy not what he was saying it was. now we can see what he is promising is going to cost a hot more money. >> right. you host a podcast called crashs and taxes. earlier today president trump told stuart varney that biden's tax policy would hurt the economy and the stock market. between that and what we've seen from the urban brookings institute, what do your numbers say? you looked at it. you crunched numbers. what are your thoughts? >> charles, first of all this is the worst situation we've had since the great depression with the shutdown. i cannot see america putting a president in at all who says they're going to raise taxes. you can only soak the rich and corporations so much especially the multinational corporations. they don't have to stay here, right? you can only do that so much before the tax policy creeps into every american's life. charles: right. >> if we look at biden's proposals, that is what he wants
to do. he wants to change fundamentally our country and it is going to take so much money. the last time and the last time frame that anybody wants to implement that kind of increased tax policy we aren't even recovered from a global pandemic we're still shut down from. this is asinine to me, we would be speaking about raising taxes right now. i cannot process it. charles: it is tough. it does not make sense. rebecca, thank you very much because you always make sense. >> thanks. >> this is the kind of news we all should share. i tell you we certainly need to hear. it is not getting much play from the media. the trump administration secures the release of two american hostages from yemen. state's spokesperson morgan ortegas will give us details. a lot of names came off the canvas so far in the session. i think some more will follow. the last trades you need to consider, get your pens and pencils out before the closing
authoritarianism. the u.s. ambassador to the u.n. calling a decision a mockery of the body es intended purpose, validating president's decision to leave the council in 2017. here to comment, state department spokesperson morgan ortegas. how in the world do you get china, russia and cuba on a human rights council? >> a win for dictators and around the world a secretary of state mike pompeo saved yesterday it's a loss for anyone who credibly cares about human rights. as you pointed out, charles, the united states under president trump left the human rights council, the u.n. human rights council in 2018. we often cite, of course the blatant hypocrisy from the people on the human rights council but rampant anti-israel bias that happens on the council. it's a mechanism to hate on the state of israel and to not actually hold anyone accountable for human rights abuses. we've seen the worst, i talked
about this on your show, charles, the worst human rights abuses that we've seen since world war ii, some of the worst are happening right now in china xinjiang where people are locked up for their faith, for the crime of being muslim or being ethnic minority than being chinese and they made it to the human rights council yesterday. charles: it's so crazy. the world once all agreed that never again. now like never again unless you're selling us cheap cotton. or making, funding our movies. it is heartbreaking. morgan, i want to ask you about the trump administration just securing the release of two americans who were held captive by houthi militia in yemen. >> yeah. charles: how did that come about? one of these stories should have been the first thing we talked about this morning but very few are. >> you're right. it should be a very big news story. yesterday secretary pompeo, national security advisor robert o'brien announced yet another win for the trump
administration. bringing more americans home. no president has been more committed to bringing americans home who are held hostage, who are wrongfully detained abroad than president trump. he has a massive record of success. we did, as we said we brought two americans home. we did unfortunately someone did pass away but we were able to bring their remains home. that is something that has been so fundamentally important to mike pompeo and to president trump that we get these people, that we get these americans home. you know every life is valuable to us. even if you passed away it is important for to us get those remains back to their families. this was in yemen. of course very tumultuous situation there but, not just whether it is yemen or anywhere else in the world. president trump, mike pompeo, robert o'brien will do everything they can to get these americans home. charles: yeah. we promised those young men and women we'll always which you back and we never stop trying, even sometimes it takes years or decades, we don't stop. another to your point, major,
major sign that we will keep that promise. morgan, always appreciate it it. thank you very much. >> thanks, charles. charles: all right, folks stocks are sort of lingering a little bit lower here. we've come way off the lows today. i have trades that you need to consider before the closing bell. we'll be right back. ♪ sofi and applied for a personal loan. i paid off my credit cards and felt a weight come off my shoulders. thank you sofi for a great experience and for helping me get my money right. ♪ and your new audiobook. with everything from mel robbins to blake griffin, is there a more fascinating place than audible? no. and i've done the research. of course you have. audiobooks, podcasts, audible originals, all in one place.
prime day for amazon and as more businesses expand into the digital world, there's going to be a need for space to store all that stuff, distribute it and i can tell you right now it's leading to a monster boom in warehouse real estate. the question is how can you use that boom to make yourself some money? joining me on that pointview wealth management president david dietze. i got to tell you, warehouse and storage, that's one of the few sectors where there are actually more jobs now than at the beginning of the year. in fact, we have doubled the amount of jobs in that space just in the last decade. i think part of the reason of course, we see the transportation stocks at an all-time high. let's talk about the investment opportunities here. what do you like? >> yeah, absolutely, charles. i couldn't agree with you more. i love reits now. this is one of the few areas they don't pay taxes, you are worried about higher corporate taxes, reits may be your answer. but warehouse and storage area
is one of the best performing areas. why that is? retailers, obviously you have amazon and so forth but all retailers now need to have basically staging space. where are they going to hold all the goods they hope to ship via the huge booms we are seeing from the pandemic and as people are moving to online shopping? that space is going through the roof. so i definitely recommend, think this is a long-term trend people want to get involved, as people increasingly do all their buying online. charles: so it's interesting because real estate has been the number one performing sector in the market today. there's a couple names in that space you like. pro lod prologis is one? >> absolutely, it's the number one player in the area. jack welch used to tell us you want to be number one or number two in any endeavor you are doing. they've got the space, you know, so a national retailer can come to them and in one contract
arrange for space all across the country. that gives them a huge advantage. is there any fly in the ointment here? well, it is up 80% since march 23rd so obviously, some of the good news has been priced in but as we both know, these trends are being accelerated during the pandemic, are going to have long-lasting tail wind and of course, you are still going to get a 2.3% dividend which is greater than the s&p 500. charles: yeah. i agree with you 1,000%. the need for these retailers to get stuff to us the same day, they got to build them up. they are going to build them up. let's talk about today's session because believe it or not, we opened, looked like it was going to be an ugly day. parts of yesterday looked like it was going to be ugly. parts of tuesday looked like it was going to be ugly. we do find buyers right at the cusp of when it looks like these markets are going to fall apart but we got more winning than losing sectors. there's a cautionary part to it. utilities, real estate, consumer
staples always do pretty well when we're nervous. what do you make of the fact that it's the communication service names, the technology names that are getting hit hardest. in fact, communications service, the worst performer led by facebook which is getting a drubbing today. >> well, some of it has had a moonshot ride up. after awhile it has to take a pause. there will be some profit taking. we are talking about our fangs plus microsoft, have more than doubled in some cases. we heard some disappointing news in the cloud front. one of the companies did so much business with the parent of tiktok, they lost 30%, so there's a little bit of caution there. what we're seeing in the rest of the market, there's some great yields, great valuation and people are gravitating there because of course, there's no yield in bonds anymore. charles: right. i got to tell you, though, i have been impressed with the way the market holds the last 72 hours. it's clear to me it's not ready
to fall apart but we are looking for a catalyst. maybe we will find out what it is. could be earnings. could be earnings. we'll find out. david, always appreciate your insight. you gave us a lot. people, i hope you took that down. plb, the symbol. meantime, we are well off the lows of the session but we can't get over the hump. liz claman, i don't think wall street thinks we will get a stimulus deal but i think they really would love one if it happens. liz: exactly. you just used the word catalyst. that could be the catalyst and of course, maybe there will be that discussion because we are just five hours away, check the clock, folks, from a different kind of 2020 election face-off. instead of a traditional debate tonight, dueling town hall events as president trump and joe biden seek to get out their messages on different networks. even if the traditional debate structure is dead for now, the "countdown" debate, we call it the economic undercard, is alive and kicking.