joining me now to discuss this and more, former jpmorgan chief economist anthony chan. anthony, thank you so much for joining us. you know, the headline number might have been in line, but you get underneath and look at some of the details in this. this is a pretty impressive report, and let's start with the unemployment rate at 8.4%. i think wall street was looking for 9.8%. >> charles, this is a great report from that perspective. i get very excited when i see unemployment rates go down. that really tells you that that's going to throw a real breath of fresh air for the american people as they see that we're making good progress on the unemployment rate. i was especially excited about the fact that the black unemployment rate dropped sharply, and so did the hispanic unemployment rate, which is something that we badly need. the only thing that bothered me a little bit is that spread between the black unemployment rate and the national unemployment rate, that spread has been widening out just slightly over the last three months. that's been narrowing for the hispanic une

stuart: let's go back to anthony chan, we are seeing the very strong support for the new companies andies, can you give me a minute on what kind of economy is going to emerge, a new economy post virus, how do you see going. >> the way that i see it, we will see romanticize asian of the company's with the cloud and stay home copies of support online spending, although the industries have profited from the covid-19 pinto mike. by the way we will continue to profit as you see behavior starting to change. one of my favorite etf's in the technology space, i why w which is technology and that is outperforming the s&p 500 to almost 25%, you clearly see there is a real obsession with technology, usually we talk about christmas in july, this year christmas in september with snowflake, that company getting priced in at five and half times the private evaluation earlier this year, there is a complete obsession with many of the companies in your seeing it in the ipo market. stuart: you got that right, unity up 7%, snowflake up another three and half percent, j frog up 4% in a rally and a half, ant

anthony chan is with us. all right, anthony -- >> hi, stuart. stuart: greetings.he strength of the economic recovery. you think it's a really strong recovery, and you've got a bold forecast that in the third quarter we go up 27% compared to the second quarter. tell me all about that, because that's a bold forecast. >> that's a bold forecast, stuart, but it certainly is a realistic one. all the indications we have is that the we saw in the first two monthses of the third quarter the economy was booming, obviously led by the manufacturing sector. the service sector is still a little weak. but again, with the growing prospects that we're making continued progress with respect to fighting this pandemic, i think we can pull it off and get a 27% growth rate. i think in the fourth quarter is where things slow down a little bit, but i think policymakers certainly have the option of providing more stimulus, and if they do, you'll have another positive but much softer growth rate in the fourth quarter. stuart: you think we get this whopping, great big 27 percent jump in the

anthony chan joining us this morning. anthony, what is this? what's going on here? going on here? what do you think? >> well, stuart, i actually don't think it's something to worry about. i think if the market is concern that somehow the momentum in the economy could face a little bit of a speed bump in the fourth calendar quarter, somehow democrats and republicans don't make a deal. i'm actually confident that they will make a deal soon and come up with some stimulus because the third quarter's already baked in. we're going to get good growth. in fact, we're going to get better growth than i thought even just a month ago when i thought gdp would be around 20%, now that number is probably going to be 5 or 6% above that. so we have good numbers in the third quarter, but in the fourth quarter, just like the third quart was boosted by stimulus, if we don't get more, in the fourth quarter we're going to see a lot of negative growth headwinds, and that's what the market is worried about. stuart: but answer me, is the market really that connected to the economy? i mean, t