tv Making Money With Charles Payne FOX Business March 15, 2021 2:00pm-3:00pm EDT
jackie: bitcoin taking a hit today as traders are easing up on bets fueled by the stimulus package that boosted bitcoin to 61 thou this weekend. look at markets. you can see we're all green across the board with the dow logging a 77 point gain. with that charles payne. it is yours. charles: thank you very much, jackie. i love this tug-of-war we have going on right now. good afternoon, i'm charms payne. this is "making money." after four wild weeks of wild swings in the market, we're trading in a very narrow range. as investors brace for the next move from the federal reserve even as jerome powell says there is no inflation he still must treat, you know, make sure not to let the wealth effect fade away. also president biden kicks off a cross-country tour to promote his monstrous 2 trillion-dollar relief plan, with several stories reminding us taxes are along the way.
we'll get reaction from kentucky congressman thomas massie coming up. where all the money is going and what does it mean for investors. how should you be invested. a new poll says half of republicans don't want to get the covid vaccine. dr. fauci blames president trump. that and so much more on "making money". charles: so after a rollicking week, really weeks of this market going up and down investors have number of things we're grappling with. i think it boils down to common sense versus wall seat worries. on the common sense side, trillions of dollars sloshing around, more money on the way. vaccine is distributed real nicely. economies are open and allowing people to go to work and play and consumer confidence is beginning to rise. on the wall street side there is constant talk of inflation and worries about higher yields.
of course also concern about stock market valuations especially the big cap growth names. how to navigate between these two forces? that is a big question. we have kenny bakari, thanks for joining us. a core proxy for the economy, transportation stocks, for instance, they're soaring. we saw a pickup over the weekend in air travel. we see more orders for the boeing 737 max so we see that happening what's up with the rest of the market. why is the market in general on pause? >> i think the market -- listen the market is not really on pause. it is really reacting tremendously considering everything that has got hit with but when you think about the dow industrials, dow transports the fact they're both rally something actually quite bullish for the u.s. economy when you think about dow theory, right? as industrials do better, all the products we make end up being transported around the country and around the world
which ramps up transportation. when these two sectors are in concert with each other making new highs, that talks about the health of the u.s. economy. remember our u.s. economy is 70% services, not so much manufacturing. while transports are great, while industrials are doing well we need to see some regaining in the services industry, right? so that will come as the economy does well. charles: right. >> i think the economy, i think stocks are on pause for a moment because they're taking all that in, taking recent rise in rates, taking in wednesday's fed policy or fed's announcement of the fomc. they're taking in the latest headlines today that hit the market about rising taxes or wealth tax or the fact it will be the biggest tax increase since 1993. i think there is just a recent for paws, not necessarily get panicky but just a pause. charles: right. to your point, concern any, i was out and about this weekend and people were out in droves
and spending money. reports of swarms of people that showed up in las vegas. after the governor said he will lift the capacity to 50% from 35%. it kicked in today, but anyway it was packed over the weekends because people heard about it. this anecdotal stuff. how does someone position a portfolio when you know there is that kind of pent-up excitement out there. >> you have to be excited about that, right? i'm down in florida. you can feel the pressure of florida building over the past couple weeks as a lot of people are getting vaccinated. they feel like they want to let go, right? you can feel ripping apart at the seams. you need the core portfolio. you never should change what the core portfolio is. last year you may have pared back on some names you thought would get hit, are going to be hurt by the virus, today now with the recovery trade we see that so much is going to now really take off. so you take your core portfolio. then enhance it, accentuate it
with some cyclicals, some of the energies, some of the financials you see acting really, really well and will continue to act well as the economy recovers. not a matter of changing up the whole portfolio. a matter of accent eighting, keeping the core and accentuate ing it. charles: stay the course, hiccup here, hiccup there, even with the fed on the horizon wednesday, overall message sounds like stay the course, be long the market? >> i think you need to be long the right parts of the market, trim where necessary. but that doesn't mean go out and sell everything in tech because you think it will come under pressure. not at all. i think parts of the tech industry need to be represented. you need always stay with the core. stick to the plan and don't overreact should really be the real message. charles: kenny, always a pleasure. thank you very much, my friend. now i want to bring in two guys
i really love on these topics, chief strategist at money map press, shah gilani, founder of rose cliff, mike murphy. shah, the week started with sort of mixed messages. the reopening stocks are killing it, right? top 10 movers, airlines in particular but the biggest sectors have been safe havens. utilities, real estate, staples. two different messages, what are you gleaning from isn't. >> i'm gleaning that the market is still apprehensive with bond volatility and they're looking to the fed this week to get something out of them, something concrete they expect probably be like a twist and shout message. they want to hear the fed say they turn to a twist policy end up buying longer dated maturities but keep the 10-year lower and swap those out instead of buying shorter maturities which is what the bond market would like the fed to say. i'm not sure this time, every time the market has has
essentially shaken down the fed they come to the rescue of any market anywhere. charles: right. >> this time may be different. i'm apprehensive. charles: mike, what is interesting this session is the dow had been the big winner over the last few weeks and it started out number one today, not by a lot but it pulled back. it looked like it pulled back with the headlines with janet yellen may want to tax multinationals. meantime nasdaq is looking pretty good and i'm thinking, even last week the breadth for the nasdaq was remarkable, far more advancers than decliners, yet so many more 52 week winners than losers. volume on the upside was strong. i wonder it is time for people to look at nasdaq socks being oversold? >> charles, great to be with you. i think a lot of nasdaq is oversold. when you look at the top, apple, down from the 140s, down to the low 120s, one teens last
week. that to me is an opportunity to put money into work, in a name i still see innovation and i see growth and one of the best names out there. for your viewers watching at home they can look at something if it is not individual names, when they're looking at the s&p 500, a large basket, they're getting their apple, they're getting amazon, they're getting microsoft, they're getting google in there. so that is also a way for people at home to invest here but this is a lot of names that are still undervalued that are going to move in the nasdaq. charles: from undervalued to underappreciated, guys, we learned last week that u.s. household net worth is the 130 trillion with a t and that net worth as a percentage of disposable income, over 700%. that seems to me that it would have an enormous positive impact on the economy, on the stock market, as time goes on, as people feel confident to go outside and spend. shah, i don't see how this can't be the number one investment
theses out there. i know inflation is lingering, everything else, look at all the cash on the sidelines that will pour in. >> consumers, households are in very good shape as you pointed out. i will add something to that. not only as savings right high as i can remember being, absolute numbers incredibly high, at the same time households are de-leveraging. they're creating greater buying power for the future. de-leveraging gives them opportunity to do more, i think that bodes well a, for the economy and for the market. so we're in great shape. charles: my coming into the year, my investment thesis was wrapped around all the cash out there and to shah's point, how strong household balance sheets are. why is the market kind of forgetting about that the last few weeks? >> it has forgotten about it, charles, but if you looks at any two other three week period you can get some weird movements. looking at specific names, you have walmart trading down in the low 130s.
has not taken a huge move up with a lot of the other dow components. look at home depot. people will invest money into their homes, trading down from 300s into the 260s now. walmart i think is the best way to play this. home depot, probably the second best way to play it but a lot of upside in both of those names. charles: shah, before we go, you got a couple names you want to share with us, some fresh ideas? >> i certainly like mike's ideas. we're in the stocks. some smaller caps i like. clean energy fuels is one i mentioned before on your program. we're still into that. love it. i think it has a lot higher to go. we like western union. immigration policy will result in a lot more people coming into the country and remittances increasing sending money back home. we love western union, 3 and 3/4 interest yield. bank of butterfield, tremendous 4 1/2% dividend yield. we loaf that. ammunition, inc., poww. for all the right reasons they
have tremendous backlogs, hundred of millions of dollars. they will hit it out. park. charles: i'm a little jealous you came up with that idea before i did. mike, shah, thank you very much. appreciate it. so, folks, 2:45 p.m. eastern time fox news contributor liz peek will weigh in on how the white house keep pushing a despondent message that america is in a gray area in the covid fight. but first, go to president biden who is now taking questions. >> is what the local doctor, what the local preachers, what the local people in the community say. so i urge, i urge all local docs and ministers and priests, to talk about why, why it is important to get, to get that vaccine and even after that, until everyone is in fact vaccinated to wear this mask. [shouting questions]
>> thank you, guys. thank you. thank you, guys. let's go. charles: all right. folks president biden, we'll discuss the biden economic agenda. if you think progressives are being ignored, think again. we'll bring in kentucky congressman thomas massie to weigh in on that. we'll be right back. your doctor gives you a prescription you could use free 1-to-2 day delivery from cvs... but aren't you glad you can also just swing by to pick it up, and get your questions answered. that's healthier made easier. from cvs. and get your questions answered. metastatic breast cancer is relentless, but i'm relentless every day. and having more days is possible with verzenio, proven to help you live significantly longer
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♪. charles: you know for all the talk about the notion that the biden administration has been fending off the progressive wing of the party i think it is the exact opposite. considering the hidden nuggets of goodies in the biden rescue package it is clear, we're in the early stages of implementing modern monetary theory. that is the the notion the government prints money, therefore it should have no limits on how much it prints or spends. only a tiny fraction of cash in the rescue plan went to covid-19. the bulk of rest of payments amount to a massive money printing for liberal causes. that is what mmt is all about. money conjured up out of thin air through deficit spending or maybe reconfigured federal reserve to be used for things like paying for college or universal basic income. i mean these are the logical off-ramps what we're doing at this very moment, moreover, the
more this cash is handed out, the more people will demand it for other causes. check out this headline from the cincinnati business courier. christmas at city hall. cincinnati is set to get a nine figure windfall from biden's stimulus. you know, folks, this is headline happened all over the country. so in the latest round of stimulus, we have leaks of some taxes coming out, i want to bring in republican congressman thomas massie from kentucky. congressman, just your thoughts on the notion it could be christmas every day if we just unleashed the printing presses! >> you know my intro to macroeconomics professor was paul krugman in the 90s. i thought he was out there when he taught that class. even he doesn't go for the modern monetary theory because it is going to catch up with you at some point. i know inflation has been low. inexplicably low for some of us for quite some time but we've
gone from deficit 4% of our gdp, to a deficit like 30% of our gdp. i wonder if it is like a sugar high, or caffeine high, if we don't spend another $6 trillion next year, what is it like to come down for the economy? you mentioned the city of cincinnati. every city has a money hole. theirs is a streetcar and, maybe they will bail out their streetcar but every community like county governments are seeing one year their annual revenues, i'm afraid they will build ballparks. then governors say you can't even play in the ballparks. charles: but here, the reality is, though, as you say, another 6 trillion next year maybe they will! let me play devil's advocate for a moment because i like to ask gop guests how they counter the message of free money. take a look at the meme. i saw it over the weekend while
republicans are focused on a toy potato and americans are drowning. how do republicans counter this meme that they're not willing to help people in trouble? >> republicans counter by spending money. republicans we're all for $3.2 trillion stimulus, money went to the museums and endowments for the art. what are we doing, groundhog day a year later, republicans some of them have religion and they're criticizing this bill. they should have criticized it a year ago before we got on this roller coaster because you know, they really don't have a comeback for this. and you know, i, i want to blame my colleagues that i served with for voting for this stuff but it is a popular bill. i have mean free money is a popular thing. here is the problem though, charles, with modern monetary theory, what not. they say you can print enough money you want until you get to full employment.
full employment 50 years ago, meant head of the household worked 40 hours a week. full employment now, means two people in the household are working 60 hours a week. we talk about it is all such a great thing that we haven't seen much inflation but why shouldn't the price of a car be half as much as it used to be? it takes half as much effort to make one? charles: right. >> you know they talk about, well, the dollar getting stronger, being a bad thing. i don't know why that is such a bad thing. i would love for everybody to be able to work 20 hours a week and still live comfortably but now because of modern monetary theory and other forms of printing money and spending money, we're all seeing the value of our dollar being devalued. charles: yeah. it is on the cusp of breaking a key support point against other currencies. congressman, i got to tell you, i feel like we're there. i don't know how we turn it around, i really, really don't. until we hit a massive wall or go off some giant cliff before we can.
congressman massey, always enjoy your conversations, thank you very much. >> thank you, charles, for having me. charles: bitcoin losing some of its steam after hitting a record high over the weekend. believers say this is blip, folks. on the route to completely dominating the entire financial universe. janet yellen is not closing the door on the biden white house implementing a wealth tax but it is her push for global minimum tax on multinationals is really causing major waves. we've got those details next.
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to pitch the $1.9 trillion american rescue plan. there are talks in washington what might come next and that being a major infrastructure package. when you talk about a infrastructure package, one of the questions how might you go about paying for it. treasury secretary janet yellen was asked over the weekend about the idea of a wealth tax. she noted the president has not proposed a wealth tax but added something the white house has not made a decision on just yet. this is the idea of senators elizabeth warren, bernie sanders, other progressive democrats, to tax wealth over $50 million by 2% and wealth over a billion dollars by 3%. white house press secretary jen psaki was asked about the wealth tax and the idea of it just a little while ago. there was her response, watch. >> there is a shared view that those at the top are not doing their part. obviously that corporations could be paying higher taxes. that continues to be consistent with what the president talked awe bought. when it is the appropriate time
i'm sure they will discuss, he will discuss with others how to address this moving forward. reporter: as for treasury secretary janet yellen, she is working on a global minimum tax for multinational corporations. bottom line, charles, when you talk about a potential infrastructure package coming down the line the last few days, there has been talks in washington what tax hikes might look like especially on the wealthiest of americans. the white house continues to insist that it would not affect anyone who makes under $400,000. of course what the corporate tax rate might look like as well. charles? the. charles: all right. blake, well we know it is coming t was promised on the campaign trail. president biden ran on higher taxes. these stories are not surprising although people are concerned which taxes get hiked and why. for the stock market there is a more pressing issue this week are and that is inflation. if is there a problem, what is the fed prepared to do about it? i think i have the perfect
guest, constance hunter. constance, i read there is a record amount, a record spike in google searches for inflation. so people are worried about this but how real is the problem? >> yeah. well so they're curious an for good reasons, right? we've seen prices go up on selected goods. in fact we see goods prices which have been negative for the last several years move up to over 1 1/2% during this pandemic. as the demand for goods has grown and there are supply bottlenecks in the face of those higher demands. so there is, a seth reason why people are looking this up. but, the flipside of that of course is that services prices, which had been running about 2 1/2% for the last several years before the pandemic, have now fallen down to that t.5t%% l.le hesoigigueioueue mk i i doo gos prices kee geengngp? wh dwhsoesoesha ttn mrn llll pr?es?es mes reers reeroodsdsdsredsre abo 20 of ofofofhe c cpp bemtst.tststs
es 6,. ousoou canan h gdsridsso w ho whout aecng tng t t reat le l.le and tananananans s chs:les:leltugh hougho eo>>e eoexperienceririri thseseetse armla.ed soso i gilivanananan examp ele i i orderinrdg someomhinese fdd up weeksee a. e day itos me $15 $15 $15 $15 $ e next day it cos me m $17. i pauised.se thisthss or 20% iree. iook thk fthk dth the second d, planning on it, too late to change my plans. i tell you what i haven't ordered the chinese food again. consumers respond to higher prices by changing behavior which calls into the question the durability of those higher prices. charles: sew, okay, higher prices usually at some point do get to the point where people stop using those goods and services. the fed doesn't talk, cpi or economists, food and energy, that is what the average household to your point reacts to. what is jay powell doing
wednesday where he tries to keep the whole thing going including markets? i know he wants the wealth effect to play a role bringing this economy back? how does he thread this needle on wednesday. >> i don't know if he will explain this exact aspect of inflation but there is something else that is really important. if we think prices will fall in the future, we put off purchases, especially big purchases. if you're a business you might put off a capital investment, oh, it will be less expensive in the future. so as a result, what we see is that we need some inflation to keep the, grease the wheels, keep the economy going. so he needs to better explain that, so people understand there is a need to have some inflation. charles: right. no, igotcha. i gotcha. i think it's a delicate balancing act we've seen with wall street. wall street wants the fed to do or say something and i got a feeling main street may as well.
constance, this is why you're my favorite economist. i wouldn't have noticed the difference between 15 and 1bucks. you -- 1bucks. you zeroed in on it. we'll talk soon. >> thank you, charles. charles: we have sylvia jaw blonski. looks like the fed will have to be more accommodative. that is great news for other assets, bitcoin in particular. t was over 61,000 over the weekend. it tripped up over news out of india, some sabre-rattling. you're looking for 100,000 this year, are you still there. >> i'm still there. still heavily in that camp. i think it is super compelling. first of all there is natural supply and demand story. there are 21 million investable bitcoins. we're 19 million. pure demand and supply shortage
will be a factor. it is now become a actual real asset class people believe in and invest in. once we saw the practical use cases of it, for example, you can buy a tesla, venmo, paypal are linked up to it. more banks are linked up to it. it sort of feels more like a real thing. a lot of institutions adopted it might be a good investment. for example, pensions who are some of the most conservative investors in the world long time added crypto and bitcoin currencies to their portfolios. all that legitimize is it and 1.9 trillion, fears of inflation it, move as lot better than gold does at least for now. i think there is some interest in bitcoin. charles: sylvia, do me a favor, we have a minute to go but i want you to walk me through this greater story. brilliant people are saying not a matter of believing in bitcoin per se, but the crypto universe,
pointing to decentralized finance, they call defi, taking over the entire financial system. is that pie-in-the-sky stuff or could it really happen? >> it could really happen. the software, technology advancement and software has been insane. it is about a 40 billion-dollar space now. so what decentralized finance is essentially peer-to-peer like banking. instead of going to a bank, filling out your name, address, all this kind of stuff, you open a wallet. your account is anonymous. you can borrow, lend, trade, invest whatever you want to do basically in your wallet anonymously. there is high-risk but there is high reward so your money is invested, interest gained is lot meyer than what banks have. there is no centralized regulatory body. you can transfer money and coin the crypto as quick as you want to, same day services. so it is really like, they don't charge you huge fees because they don't have big buildings,
real estate, don't have private planes and things like that. charles: right. >> it is also high impact digital banking. yeah, it can take over. i don't think it will replace banking for most of the generation today but it could be the future of banking. charles: yeah. i saw two weeks ago where a $4.2 billion bitcoin transaction had a fee of 21 bucks. figure that one out in dollars, right? >> right. charles: sylvia, thank you very much. always appreciate it. you know people seem to be spending their stimulus checks as soon as they get them. so where is this money going? how do you take advantage of it as an investor? we have details for you. get a pen and pad out. is dr. fauci too quick to use former president trump as a scapegoat? what about his voters? fox news liz peeks will weigh in that at 2:45 p.m. we'll be right back.
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♪. charles: all right. so those 1400-dollar stimulus checks hitting bank accounts now, it begs the question, where is all of that money going? gerri willis is live with some details and some ideas. gerri? reporter: hey there, charles, that's right. you can story get about inflation. the 10-year yield, even earnings, the most important factor, single most important factor for investors in 2021 is how folks will spend the stimulus checks. this is according to jared woodard of bank of america. this weekend as you know, eligible americans were beginning to receive the 1400-dollar checks from the government as a consequence of biden's $1.9 trillion stimulus bill. portfolio strategist from b-of-a, that the consensus view americans will go on a shopping very is wrong. such a spending spree would result in economic consumption, boom, higher wages, services inflation. great for gdp it, would go through the roof obviously but bad for stocks.
look the fed would get involved to hike rates. he would expect americans to continue saving after an initial surge in leisure and services spending with consumption reverting to trend. in other words, guess what? they will continue socking it away in cash and debt payments, financial assets. that would quell supreme expectations, what he calls it, supreme, gdp, it would be bullish for markets. this dovetails nicely what we've seen as a result of a survey last week which showed the majority of americans planning to use their stimulus proceeds to invest in the stock market. and as i send it back to you, chars, you know what i would say? those people on wall street, they will have to stop calling real americans the dumb money because they get smarter and smarter in investing all the time. back to you. charles: aye men, amen, gerri, thank you very much. while everyone is playing a guessing game where the stimulus money is going, i got to tell
you, i saw first-hand in a mall in new jersey a lot going to luxury brands. there was a scene,ed the old black friday they have a limited amount of things, everyone was rushing in there, it was feeding frenzy, on christian dior, two sneaksers 690 each, that was stimulus checks. they could not keep them on the shelves. i'm pretty sure retail will be a stimulus winner, put me down that luxury will be the grand slam winner with all of this. we have macro advisors founding partner mitch roschelle. mitch, there are two-ways the latest round of stimulus money helps the market, investors buying stocks which we know a lot of them will or consumers buying up a whole lot of publicly-traded companies. which one do you think is the most impactful? >> i will say yes to that. i think you will definitely see both. i'm with you 100% on the luxury side of things and part of the reason for that is, when you've
been deprived of something for so long, when you can finally do it, you go overboard. that is why you're seeing some luxury brands, seeing foot traffic. one word of caution on the malls because they're limiting number of peoples in stores, makes the store look busier, makes them more interesting to people. that is why they're waiting in line, they are trying to figure out what people are waiting in line for. in terms of stock investing, when you see a savings rate grow the way it has, in a year, basically almost tripled in this country. i think there is some new discipline there. especially you have young folks, moving back in with their parents and starting to see the benefits of savings. so i think there is definitely a new-found appreciation for savings. but i think you will see a little bit of both. i think you will see people saving, investing in the market. you will see people investing with some money going out to spending it, whether on services or goods. charles: right. yeah. i mean almost everyone of the people i saw they were young adults for sure. i guess they might be living
with their parents but you know, they wanted the materialism. they want the stuff they see in videos and see on blogs and instagram and tiktok. a couple weeks ago we had a conversation, it really stuck with me because you know this sort of new battle, warren buffett versus kathy woods. since then the "oracle of omaha" his approach has been crushing it, right? looks like, wow, maybe we should go back to that rather than the hot new hand. it just occurs to me, mitch, people are always sort of eager to dismiss something new and hot, in particular this case, cathie wood and her investments things like electric vehicles. i think she is still the best. i think long term and short term that is the best way to go. what are your thoughts? >> full disclosure in the period of volatility we saw in the nasdaq last two weeks i bought more ark because i definitely think that is the future of
investing. she bet the ranch a little bit on tesla but i think she has a lens into that company that nobody else does. but what is interesting though, when you saw all of that volatility in the inflation fears getting people to run away from tech stocks, the very stocks they ran to were the core portfolio of berkshire hathaway. it is very interesting that even sophisticated investors went back to the basics. i think over the long run you will see those tech names continue to do really, really well because they are really the future of commerce, they are the future of productivity and the like. charles: yeah. we're seeing a little bit of transition today. i say keep an eye on the semiconductors especially. mitch, always a pleasure, thanks, my friend. >> thank you. charles: well, folks the u.s. keeps hitting new covid vaccine milestones. so why us did the biden administration insist on pushing a sort of doom and gloom message to americans? fox news contributor liz peek, she will weigh in on that. she is next.
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ahead america is than most of the world, including europe. look at china down at the bottom. the message remains dark and despondent. what is this all about? fox news contributor liz peek, that president biden seems detached from a lot of thing going on in america right now, liz, your thoughts, the message, from the very beginning, was sort of this dark america when the america i saw outside this weekend was anything but? >> charles, it is happening too fast. joe biden ran on fixing the virus and if we have herd immunity by april, he cannot take credit for fixing the virus. let's face it. secondly, democrats have taken great advantage of this virus, passing for example, the american rescue plan for $1.9 trillion, much of which of has nothing to do with the virus as many people have said. one data point on that, i was looking today at the money for schools. $126 billion to go to schools in
addition to the 68 billion that is already been sent to schools by prior packages. what is required for that? has nothing to do with reopening. they have to have a plan for reopening and not reopen. supposed to fix the learning loss, but only 20% of money has to go to that. it's a huge gift to the teachers unions. what will happen is, schools will use that money to bolster their payrolls, add new people, consultants and so forth, all of whom will become union members. honestly this bill was atrocious but it's a big democrat thank you to all of their special interest groups. charles: yeah. i just, these power centers, right, that only exert power through fear just bother me but i get where you're coming from. you know, it is not just president biden though. dr. fauci spent the weekend on several networks saying president trump, he should urge his followers to take the vaccine. take a listen.
>> the fact that you had a program that was started during his pregnancy and he is not out telling people to get vaccinated i wish he would. he has such incredible influence over people in the republican party. it would be a game-changer if he did. charles: so i was wondering if i was in bizarro world because that is exactly what the former commander-in-chief just did a couple days before that interview. in fact in a statement saying i hope everyone remembers when they're getting the covid-19 vaccine that if i wasn't president, you wouldn't be getting that beautiful shot for five years at best and probably wouldn't be getting it at all. feels like they're setting up president trump, or maybe his voters to be some sort of scapegoat if something goes wrong. i don't understand that message there? >> what a shock, disparaging trump voters yet again. there has been no bigger booster in real terms or messaging terms obviously of the vaccine than president trump. let's take a moment to remember
kamala harris and andrew cuomo and nancy pelosi and many other democrats who said, oh, they weren't going to trust the vaccine because it was a trump vaccine. they are the people who sowed doubt into peoples minds about the safety of this vaccine long before it came out, charles. this is complete nonsense. by the way the poll that fauci and others cited about 47% of republicans, the numbers is 41%. my guess is, a lot of those people answered that they wouldn't take the vaccine just because they're feeling ornery. they will not admit to it. every republican i know has been vaccinated who can get it. that is a fact. i think it is complete malarkey. charles: so do i. i think they set up those kind of things to make excuses for their own missteps and miscues, whether on a national level or local levels. liz, thank you very much. i appreciate it very much. >> thank you. charles: folks, the markets started the day slow but maybe the cp effect. we're getting a little bit of
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charles: a seesaw session and a really tight trading range, this after weeks of wild gyrations, and everyone wondering what the fed may or may not do. and then you've got the question about value, but here's the irony, is there any value left in value stocks, and will the growth stocks start to grow
again. a lot of confusion, so we bring in victoria fernandez to help us out. i know it sounds counterintuitive, but is it possible to chase value, and conversely, when was the last time you thought we'd be talking about bottom fish ifing amidst -- fishing amidst growth stocks? >> you're right, charles. we tell our clients all the time, do not chase the market. when you're looking at some of these value stocks, you have to remember they're value for a reason. and there are some differences. you can look at names like maybe a viacom or a discovery. we don't own either of these in the portfolio, but if you look at these, it comes down to the same thing, fundamentals. their fundamentals are improving because the narrative has changed for those businesses with streaming. so there's possibility there in those value names. but compare that to maybe airline names where the fundamentals are improving, but the narrative has not changed there. we still have prices low, fuel
costs high, margins being pressured. so be careful and not chase the market and determine whether there's actually potential in a value name or if it's just moving higher because the whole sector is moving higher. that's when you get the whip sayfect. -- whip say effect. charles: the thing that stood out to me is these so-called value names moving at 3, 4, 5 a clip. what do you think the message in the market is, particularly the bond market? what are we now gleaning from the action in the last four weeks including today's session? >> so it's interesting that normally you have the markets telling you different stories, right? people are are trying to figure out which market to listen to. but i think that's equity and fixed income right now telling you there's still upside here to this momentum that we've seen. you look at the equity market, you've got over 20% of these names reaching 52-week highs.
you've got breadth in the market, and that's a really positive sign. you have strong economic numbers which are giving you a good foundation, so the trend should continue higher in equity markets. then you flip to the bond market, yes, we've seen treasury yields move higher, but a lot of that is from growth expectations, and that's a positive thing. and then you look at the credit market. for us, that's key. credit spreads are actually tighter year to date which tells us that there's still confidence in this market and in the credit market. so we think they're both telling you at this point in time markets are moving higher. charles: right. with less than a minute to go, let's call it 30 seconds, victoria, can you share a few names that you're buying right now in. >> charles, you know we like invidia, broadcom and new york stock exchange terra is one you and i -- nextera. but i think if you're looking for exposure to the trade, visa or mastercard, we own them both. consumer is strong, stimulus
checks are coming. we think these are two great plays for your portfolio. charles: victoria, always appreciate your -- our conversations. see you again real soon. liz claman, we are trending higher which means the last hour could be a blockbuster. of. liz: four records already with four off the five major indices, so meandering is fine. any gain means a record, if you're a bull, certainly. thank you so much for joining us. are stocks beginning to lose their cool factor to crypto? the dow and the s&p, yes, hitting new records right now, so is the russell and the transports, but it's bitcoin's earlier march past $61,000 and the crypto art market that has investors diverting their focus away from plain vanilla equities. can stocks compete with the allure of the new, the names that our traders say can go toe to toe a