tv Making Money With Charles Payne FOX Business January 15, 2021 2:00pm-3:01pm EST
now the rush to get joe biden cabinet approved, january 21 hearing is for the secretary joyce, choice, pete buttigieg. >> thank you very much. good afternoon. i am charles payne, breaking right now, more or less spending for investors dealing with a new quandary. buyers are looking for a new rally file would be sellers trying to get out read we've got some of the best in the business to help serve that confusion. president-elect joe biden unveiling the 2 trillion spending plans to cover covered in this class but there's more and many are saying bernie sanders, reaction from congressman, mark rain.
>> if you're on the outside, you need to think about the side you're on. neil: all trump supporters with the same, calling them klansmen, nazis and terrorists. a trump supporter will sound off on these despicable but not surprising comments later in the show. all that and so much more on making money. ♪♪ ♪♪ charles: in the financial media, they say the market and use these to underscore the points. the market includes thousands and thousands publicly traded companies and their are often not reflected in these industries. this week has been a clear example. there's a massive wave of volume and microsoft there are two small to be in the 2000 index. it is not just volume, the gains
that are made, the measure of this market. it's not just in registers every morning wall street firms are lifting their targets on the hottest thoughts on the market. it was big news when tesla had a whole bunch of markets, 800 -- 900. this morning, the targeted 950 and they have a neutral rating on this. yesterday on the nasdaq, the new highs and lows was 601. 601 new highs. that's only happened 15 times since 1984 when the index was created. looking at the entire market, not just these industries, suggesting the quandary over whether the next catalyst will come from the virus, the performance or whether the reluctance of those who fell can play a role here. something has to happen, something has to give to give the market shifted into higher
gear. i will call it a conundrum in this managing director, michelle schneider is with us. investment strategy, luke boyd. that's a mouthful. let me start with you, rob. what is your take on this market, it's showing results every single day beyond these industries. there's big time money being made. >> someone told me the market of stocks, not a stock market. for the last year coming into this year, it's playing out true where it is a stock market, you have to take your stocks but when you look at what is going on between covid right now, we just have a runoff election, there will be a lot of volatility, something to be worried about always. conviction is your friend, you have to do the research, you have to buy into the market like this.
facebook, zoom, look what's happening today. they are winners in the market. charles: the concept sometimes they are missing out and sometimes you lose it back and forth and feels like it's right in the middle right now. your thoughts. >> i think it's a pretty safe bet that any correction should be bought but you have to be careful what you look. it's somewhat of the market but makes it mysterious. with the cultural, social or economic. 3d printing, ai, cannabis, these are just some that are going to continue to perform into 2021. you should be pretty well set up for the rest of the year. charles: you underscored the points i've been making not just right now but throughout the history of the show, one thing is not just to say let's look at this right now, those socks and
areas are reflected in a major industry big time money has been made. look at the market right now as we head into a three day weekend, the inauguration next week and a lot of unanswered questions. >> when it comes down to it, be selective with what you own. in a market where everybody is going broke, taking money off the table with gains in the portfolio, is a 10% pullback. the past six months, some never got back in. make sure your quick on your feet. charles: by the way, we came into the weekend, zero cash, 25%. i'm excited like everyone on the panel. seriously, what you think about wall street and this rescue plan? >> that essentially was none. the gold made the protective,
they are presenting small business and it's not good for the economy. all of that going on -- the $15 minimum wage will crush small business is already hurting. we don't deploy the stimulus in the right areas, it could get ugly very quickly. charles: rob, one of the things is chasing, almost every time i take profit to something like they went up again? what names are you looking at, some of these big winners that some should still consider owning? >> i think we are all a victim of that. i think we have looked a little too soon, they continue to get that momentum. i talked about zoom before i don't do this show everything. a couple of days ago was 330. it's been skyrocketing but what
that means, i'm not a big technical analyst but in a market like this, we have to separate price from value. technical analysis does work. look at these big names with a great narrative, those are the names that will move in pullback if you look at the charts and get some support. charles: one of the things it feels that might be following this market, inflation cannot control, we saw the consumer confidence number about end of the expectations have rocketed from 3% to ten and a half in the prius report. michelle from yesterday, as they were speaking, equity drift lower and lower. commodity went higher and higher. what role will inflation play in this with the economy in the market this year? many think it might derail plans to get the low forever. >> pockets if inflation but it's
called the personal consumption expenditures. they look at what we spend on food, housing, cars, healthcare and other areas as well. food for thought of everything else is laundry and that's what they are looking at what i think really will happen here is the fed has blinders on, not only was going on but we have seen copper and steel and lumber, that inflation could pick up and i think the fed will be late to the party because what they are talking about is keeping the pedal down and keeping the rates low the program going. charles: well, it really feels it is right now because wall street, i think they need to show the love because that service is not working right now want to talk about it going because it's one of the most amazing stories in the market
but not the crypto currency. i want to talk about the stocks associated with it because i've been trying to trace some of these things and they are better than bit coin. there are two classes, paypal has an upgrade this morning, they said it's because of the volumes a bit coin but you can also ask where micro strategies on that they are more volatile names. i know you have been active in this space, are there any bit coin stocks you will look at? >> i would still be careful with these socks, are trying to get exposure to bit coin. iras and brokerage accounts, hard to access and they have been going so crazy. especially with retirement, i think the sox will come back once these accounts track big.or easier access. i buy paypal.
the demand for bit coin is very high. i think this will and similar to the bubble the 2000, i think it will be where large companies will, stronger and the small companies will get crushed. they still have salaries to pay and expenses so i would be very careful with these smaller companies. charles: let me give some words of wisdom as we go through the three-day weekend and into burning season. get earnings to provide some month for the next couple weeks. >> i think it will be socks and you look at jp morgan, they had good numbers but when the law is very 40% on the numbers, it will be in the news so i think it will be case-by-case. we will have to look at these names and do research if there's names like paypal, when you look at these analyst estimates, i think crypto is counted into the.
without a surprise, you won't get further rallied from these pieces. charles: i think as you said, everyone is thinking so much, the smallest thing doesn't work out, i believe if it was just a little bit more than wall street expected, she goes thank you very much. we've covered a lot. appreciate it. have a great three day weekend. i do show so many ideas, so many trends. we just never got a chance to discuss because there's never enough time. i invite everyone to read my commentary and try to connect the dots. i believe the help, w street.com to check it out. also if the country like the virus with this affidavit has many covid survivors afraid to speak out. not only, how you survived it? are you afraid to tell anyone?
social work could be steeping its way into joe biden's agenda. 200, 2 trillion-dollar stimulus plan with bernie sanders with the senate budget committee and a recipe for what spending we should be raising four. >> bernie sanders applauds president-elect joe biden's rescue package. he says it's a good first installment. the one 17th congress will come in, at the extremely powerful senate budget committee and that means a huge say over the budget priorities navigating and spending the democrats want done. the sanders one senators exactly how you do this and make the spending happen to the budget reconciliation process. the process bypasses the 60 senators on a spending item only
to use a simple majority. senator sanders is not afraid to be loud and bold. >> 90 million people uninsured or under insured and can't afford it. you have people looking lady for that, shoplifting with families, people dying to get enough food to feed the kids. in this particular moment, i think we need bold action in providing a $2000 check for every working-class adult is the right thing to do. >> on that theme, sanders think to be bold the senate budget committee, he advocated for universal healthcare, free childcare and why the student debt. publican senators are concerned about the signal the placement send. >> you saw a preview of exactly what the next four years will be like with what biden put up yesterday. we'll spend $2 trillion in a program with already spent four
and half trillion the right people. people have lost their small businesses, it's just a political payback. >> on the stimulus package, there's no offsets in, it's just pure spending on top of the current deficit and there's another package coming in the first week of february. >> joining someone who will vote on biden's plan, mark. that was a rescue package out last night. >> thank you for having me on the shelf. i think it's more grotesque payback for people reported the democrats in both this congress and the administration. look at the 15-dollar minimum wage, they are talking about doubling the minimum wage, that will crush small businesses struggling right now the base of
so many other things. they're not doing liability reform, there's no seamless for the small business and then they will turn around and slapped the on them, it will crush them and the economy. it started with obama but they designed their packages to concentrate power in washington. obamacare drives the single-payer system. the biden stimulus will push people through automation of work and on the government is creating more government dependency, it is obvious in its design. charles: what happens to push back right now, let's be honest. rachel is unnecessary in a position, they are on the hills. you got the offense of last week and now impeachment stuff going on. you got the mood of the nation. how did the publicans push without looking like they are just heartless and uncaring?
>> we want people unemployed to find a job. we want people to have adoption opportunity to go from one place in life to another. charles, i thought about, i grew up on a dirt road in mississippi with opportunity, i created something special for my family. that is what we want for all americans, every single american but what the democrats want to do, he people to government. they want dependency on government and we are just going to keep pushing our message and they will push theirs and the american people will see the difference. charles: their message to be honest, was someone josé, that is an amazing story so why don't we just get the $15 minimum wage so they can go down the path on the same dirt road?
>> great question. fifteen dollars minimum wage, doubling minimum wage will face this problem. mcdonald's doesn't use automated tellers, they use people who have a job. in seattle, when they increase minimum wage, mcdonald went to automation and those people with an out of work. that is a problem with doubling the minimum wage. you put people out of work. you can't do that. how creates dependency on the government. charles: i agree with you 1000%. i think it's the messaging part that has to be done to be able to tell people we love you and because we love you, we believe we can make it without getting stuck on the same cycle of poverty. we'll talk about a lot over the next four years. thank you for joining us. i have a question for you, have you been covid shamed? i want to hear your story. i think it's part of the larger
cancel culture is spreading like a virus seems to be impacting one group of people. conservative causes. no business is the ability to make rules on their own and that is fine but there are laws against discrimination and there's a lot of business. check out this video on twitter ceo jack dorsey. >> we are focused on it right now and it's much bigger. it will go on much longer in the next few weeks and beyond in operation. charles: it feels we will keep
on what they feel is acceptable free speech. their legal and constitutional debates to be had. surely business to be lost. i want to bring in this discussion the cancel culture, these companies obviously understand what's going to happen. jack dorsey understands. i know how he feels personally but the board of directors the notion that he built his business using the platform and not the international business. maybe he feels is easier to simply dump those who don't see eye to eye with them. it seems dangerous. >> thank you for having me. today companies for employees can make decisions or errors that can cause them to be in the public break. right or wrong, we are in an environment where there short,
grudges are long and impact of cancel culture can be devastating. the action that any company takes can be perceived by any group in the candy pressure from the outside to force them to take another position. charles: it feels like maybe we didn't know what certain company had for lunch, what political persuasions were, maybe part of the ceos is a celebrity that we know more and more about them but they are also applying what they believe to who are consumers can or cannot be there's got to be economic damage as well, no? >> definitely. there retention and loyalties from both the capital side, employees should have a culture aligning the vision and message of the company or you can lose top people. certainly you can drive away and
that is in danger for any board of directors. >> you and i know you have stuff employers should used to combat all this, can you go through some of that for us? >> sure. companies and board member. doug: with this, look at the own consumer plant and look for possibilities where they could be driving away customers from their opinions more outdated brand icons we've seen last summer, they need to establish employee policies so employees know the parameters for what's tolerated and is not acceptable and what is grounds for termination it has to be done on an individual company level based on the laws of the state in which they operate. companies also need to have awareness for how they are being perceived and they have to take a stand with applause instead of
jumping into the topic of the day because that can cause that to be from weakness. charles: i love to get back to the good old days when we just accompany the quality of the services and products and that was it. thank you very much. he's been talking about this a long time. i do want to read a statement twitter gave to fox news about all of this. remarks shown in the video were delivered to more than 5400 employees and nearly the same words shared in a recent tweet offering content around and reflects to protect the conversation in recent weeks. from cancel culture to public shaming, those who have covid have been the latest argument, she recently tweeted the strangest thing about getting covid is the amount of people who have contacted me privately
to say they have had it, too. i hate that we are afraid to share something that's in so many ways, out of our control. i have an idea, let's collectively stop the shaming. about to ask, how are you feeling? are you getting better? >> i'm still congested but i am doing pretty well. i think i got off easy on this one. charles: about those it an amazing thing he brought up, i didn't realize covid shaming was going on but i guess it is. what is the reason for it? >> i think part of it, i was really surprised by how many people reached out to me privately, it's not something they retweeted and shared with followers that they had as well. i've got personal e-mails and texts, people wishing me well but also sharing how they recently added and steps they took with vitamins and foods to get over it so when i started
thinking, why are they fearful of sharing? i think it's because we do see shane whether or not you are wearing a mask, where did you go? is your employer going to look down on you? how are your friends and family going to treat you? i saw you tweet and a follower tweeted, she currently has covid so the message i want to put out there, there is no fault. yes, people can be reckless but most of us since we need to. i am recording in my home, i'm not in studio. i am being safe but it's important to talk about it because due to no fault of our own, the reality is many of us in the country are going to get covid. i am one and many of your viewers have as well. charles: i also want to switch gears before ask you about alexandria ocasio-cortez is looking to rain in the media.
misinformation during the capital rise, i don't know about you but we are not going down the slippery slope, we are picking up speed. there threats, what will congress do with something like this? >> ironically, i think it is interesting the aoc is mentioning this, i think we could check her quite a bit on statements and statements in the past but the reason it's so concerning, this is separate from the debate we have about big tech. the tech we can debate whether or not there a lot of free speech in their own platforms, whether or not it constitutes a place like parler can't go somewhere else to get service that's it it's a debate that needs to be had. the first amendment is clear, congress cannot make any law that bridges the freedom of speech and included in that with the press. making this type of statement means if it goes forward, and i
hope it wouldn't, it is direct conflict to the first amendment and our rights. the constitution doesn't make exceptions for the type of speech, it just says we have the right to free speech so that is concerning. charles: rights. beverly, get better. we'll talk to you again next week. the streets of new york city to federal reserve, a growing push the universal saying free money but is it a solution to income inequality a credit create even bigger problems? chicago mayor joining governor cuomo and reversing their stance on lockdowns. i will break down hypocrisy from one of your favorites. we'll be back. ♪♪
capitalism is dead in a way because we've given socialism to the big companies and we've given capitalism to the people on the bottom that's why i've advocated for things like numbers of basic income and healthcare and education for the people. charles: that was just a small part of our virtual town hall if you missed it, make sure you watch again tomorrow and sunday 7:00 a.m. eastern. a lot of you have been treating you missed it. because it brings up a lot of issues we been facing, andrew pa is making it a central focus of this run. the presidential run, christina has more on this. >> he's putting his name in the hat officially, he's going to provide the scaled-back version
of ubi, universal basic income. what i mean by that, he believes roughly almost half a million new yorkers living in extreme poverty should get roughly 2000 -- 2000 -- $2500. when you have a project like this, it's extremely expensive. so far it's estimated cost roughly $1 billion in annual costs but andrew yang believes it will pay itself off but you have metropolitan cities like new york facing massive budget deficit. your and your, 5.3 billion according to mayor de blasio as the economy continues to weaken because of the pandemic. high income earners going to less tax states so opponents of universal income, it's nothing but a handout. >> this is an absolute collapse of the economy. that's what we need to talk about how to bring the economy
back. not how we handle our money to people who may not necessarily see it that way. >> you do have supporters and the president of the federal reserve bank saying guaranteed basic income should be a conversation we should continue to be having. as you know, you have president elect joe biden talking about increasing the stimulus checks for americans always the question remains, how can we pay for it? i reached out to andrew yang and confirmed other information but they wouldn't get back to me on how the plan to pay for the $1 billion program. charles: thank you very much. for more on potential impact of ubi it would have on the economy and also the individual, i will bring in rebecca and local presidents, let's start with rebecca. your thoughts on not only how we pay for the i think if you pay
people not to work, you start to take away incentives to develop themselves. i think we have god giving gifts and is a shame we don't have to presume because there's always a check in the mailbox. >> i went to bed in 20202021 would be so much better and so far, we got big tech shutdowns and now we need ubi but we are just moving, i hate to say this but we are moving more toward communism. when the economy fails, the government starts talking about providing basic income for you because we don't have a system that supports you doing it on your own, then you have to look at what the heck is going on here. yes, i understand there will always be people down in their luck and we need social safety net but to say because you are alive and live here, you get a basic income, the fundamental
problem with that. charles: heather, the thing is in 2020, one of the things you saw were people pointing to the wealthy getting wealthier. somewhere like elon musk, now the richest person in the world, i think he had under $50 billion to his network. something like that can exist, why not make sure everybody in america has at least a minimum amount of money all the time? what you say to people who believe that? >> the problem is that is not the case. we have welfare programs unemployment programs that work a lot better universal basic income because some of the studies we look at, france and canada that tried it, it was supposed to be three year, they terminated the program after 15 months siding expensive costs. they couldn't afford it and that was what. most often the largest transfer
of income close to families who don't have children, adults that are able-bodied and healthy to be working really doesn't help those who need it the most that is not what you need. charles: later on, they can play video games all day. rebecca, i want to go back to last year because it bolstered the arguments. many are saying it exposed the weakness of the industry and underscored why we need the government. we have four stimulus plans get the federal government comes and says private sector will lead us down and this is why we should have giant government. >> that is so shocking and backwards that is ridiculous because the reason private businesses struggle is because the government mandates they shut down because of the virus we didn't know about. even after we did learn about it, we still shut them so
although now we have biden coming in, cuomo is saying we can't actually say shut down, it's too expensive, we need to reopen really? you are just now coming to this conclusion? we had no steps in 2020 and ruined our economy and stimulated the heck out of it and that's completely unsustainable, exactly like canada got shut down. we can't afford to pay for everybody for everything, where do people think the money grows? if you say taxes, people who pay taxes make money, they make money because they can. if you shut down the incentive, who is going to make money to pay taxes? it is totally a communist system that fails every time. charles: going to say but, after only one minute but this is why the monetary theory is intriguing as i have studied it. they are saying government has money, they should be able to print all the money they want, the only reason you would have
taxes is to keep a low, is a good argument? thirty seconds. [laughter] >> inflation will occur sometime. you can look at other countries around the world that have tried this but it hasn't ended well. there's no such thing as free money. it has to be paid for a sometime. the argument is why not pay our own debts at this time? don't leave it to the grandchildren to pay in the future. that's the incentive argument. charles: heather, rebecca. wish we had more time. talk to you again. president trump prepares to leave the white house, he can't help himself. not just slamming him, calling him nazis, terrorist. a flaw or two on that as well. we'll be right back. ♪♪
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outrageous claims, 75 million from voters with the kkk, counties capitol hill right. i want reaction from dineen, dineen, your thoughts. >> think about this, don levin is conveniently ignoring john sullivan, black lives matter activist, a black guy arrested because he was inciting people last week at the rally. why does he ignore john sullivan? he doesn't fit into his while lies terrorism racism. democrats have been humanizing the so-called deplorable law-abiding americans who support president trump. they demonize us forever especially with the race card. i expect them to double down just like lemon just did.
charles: for most of my life, particularly growing up in harlem and other black neighborhoods the most part, the narrative was that democrats with a good flight people and were hogan's with the evil mean white people. i've always found that to be despicable particularly since you know, the people getting your kids probably education, they are republican. the times we live in where you can't get a great job and people make more money than you, they are not the publicans running those towns and still they persist but for someone to say you got to be a to be a trump supporter, how does that make you personally feel? >> it is disgusting, charles. for these individuals to get away with it is even more disgusting but this is what they do and how democrats roll because they don't have an argument. they can't argue the facts name-calling and whatever. i see it all the time on my
social media platform, not that i care. charles: have got less than a minute but i want your thoughts on these city leaders. we've got lori saying maybe restaurants and bars should be open, underground parties. i do know that was a big thing. new york governor cuomo says we can't wait for a vaccine to open up so a lot of people say it's interesting, everybody has these epiphanies just before joe biden moves into the white house. good luck. >> was people abide by their own lockdown rules but i think the democrats, this is their way of devastating the trump economy. don't forget how our economy was booming before the buyers and also their way to get people to depend on the government so the lockdowns were harmful in killing the economy and jobs and yes, we do need to open up safely and effectively in the
then at the same toke then, there's trouble getting this market into a higher gear. what gives? i want to ask mitch roschelle. mitch, your assessment of today's session and this week in general. >> you know what's interesting this week is with the major indices off for the week or just around flat, you still have the russell 2000 up for the week, up around 2%, maybe about 2.5% for the week as we go into the close. so it really tells me that investors still like the market, they're just bonding it out, looking for value. and some of the economic data we saw this week, it was a mixed bag, retail sales not really encouraging yet industrial construction that was strong. think investors are pumping the brakes a little bit, seeing what happens postinauguration, but they're still relatively bullish on the market. charles: that point about the small caps, we saw them come on like gang busters at the end of
the year, but even the level below there like with these micro-cap stocks, i've got the tell you, mitch, i i know wall street doesn't like it, but there's huge volume. and some of these are really good companies that are already established. do you get, are you one of these who gets a little nervous when maybe higher risk names really start to take off? >> you know, one of the reasons why i like the broader market, a, there's a lot of value in there and, b, you're not going to see a lot of m&a activity in the dow jones, not a ton of m&a activity in the s&p 500. i mean, you'll see it, but you're not going to see a ton of con solation. i think you're going to see a lot more people picking off that value in the broader indices, and that's why i think they're set up really well for 2021. charles: i got less than 30 seconds, how are you seeing after we digest the inauguration. i mean, the first five days were fantastic. how are you seeing the rest of the year so far? >> i think, you know, listen,
we're printing a lot of money, and we're going to find ourselves, these stimulus plans at 50% of gdp, i think that's going home to roost as people wrap their brain around it, but i think it's going to keep interest rates low, and that's good for the market. charles: mitch, great seeing you. liz claman, over to you. liz: happy friday, charles. another whale of a spending package. giving rise to this question: how are we going to pay for it? that's the fears of tax hikes on the horizon which is tripping up the bulls, but we are well off session lows. the dow down 89, the s&p down 17, the nasdaq lower by 78. in this hour we do expect president-elect joe biden will appear before the cameras to reveal the details of his plan to give a covid-19 shot in the arm to all americans and to speed up this process. the company already