etf is up nearly 60% have investors missed their chance or are there more opportunities ahead, brian belski is chief investment strategist and chris toomey with morgan stanley private wealth management great to have you both here. brian, i don't know how passionate you are about investing by sectors, but are there places right now that still have a lot of value or would you stick with the places that have been outperforming >> a great question. thanks for having us on, evans i think the thing you have to think about is we have a huge weighting in amazon. the amazon machine has clearly dominated the performance of consumer discretionary but i'll remind everyone, back in 2008 when i was at another firm, i came out with a strong overweight recommendation of consumer discretionary you always want to buy consumer discretionary when the economy is heading into recession. typically and historically, consumer discretionary is the number one coming out of recession. the components of consumer discretionary clearly are different, kelly, with amazon dominating like they are but also, too, think about

we have bmo markets strategist brian belski. we could have a new record.is the longest winning streak for the nasdaq all year. we're only eight weeks into the pandemic. >> yeah, i think people have forgotten, cheryl, that we had strong leadership from this area before the, before the pandemic, during the pandemic and after the pandemic. these are some of america's best companies. i think from the fundamental bottoms-up there is a reason company why these companies need to head higher. you think about where we're spending our money from a consumer staple standpoint. apple, microsoft, intel. these have become more consumer staplish even before covid. think of the theme for the mobil worker or mobile society. you go into the netflix and google machine and facebook machine, and amazon. you know, i think, there has been so much negativity surrounding these stocks because they have dominated the performance so much in the s&p 500 but we say, let's embrace the performance. let's also know that again, the realities that these are among the strongest companies. i w

joining me right now is bmo capital market strategist brian belski.been spot on about the resolve of this market, but we started to look closer, closer examination shows that it is really about 20 names that are doing all of the heavy lifting, so the question now i have for you when does the buying start to spread out, and where should investors start to be positioned? >> great question, thanks for having us. you know, we kind of see investors involved in trading in four bucket stocks. number one, the excessively defensive covid type theme names. bucket two is a combination of the covid theme names and the leaders of which you talked about, mainly the big five technology related companies that are leading performance. bucket number three is only in those 20 names that you talked about. and then the fourth bucket is this notion of we're starting to see a spreading out of the market which your questions are about, meaning financial, small cap, cyclical. i think right now the least amount of money is in buckets number one and four. from our lens of a fun

brian belski, come back soon. good to hear from you. >> thanks for having us. jpmorgan, wells fargo, citi, all of them on the upside right now. that's interesting. there's a group, financial group that's done well in an otherwise down market. >>> look at tesla. they are starting to build a long-range model 3 in china. what do we know about this, susan? susan: cut the prices of it but yes, long-range model 3 will be rolling off the production lines in china where they are having some problems right now. we know china's sales are down some 60% for the month of april from march, whereas other people have seen and other car makers have seen recovery in that particular car market. so the long range model will still cost close to $48,000 but we know that tesla is going to cut the price of it by just around $3,000 so think about 6% of the msrp or ticket price, and that's because there aren't any rebates for the higher priced range when it comes to these model 3s. the basic standard price will still be around $40,000 for the standard range but for the long range one yo

brian belski, still bullish,bbb. n thanks very much, indeed. >> [laughter] stuart: i'm going to show you a live shot outside of our windows this is middown, manhattan you're looking at sixth avenue at friday morning at 10:04 eastern it's a ghost town but do you know what? that could change, ash, the mayor is talking about a very partial reopening? ashley: indeed, phase i at least it's something, right? within the first couple of weeks of june, maybe by mid-june we will see up to 400,000 new yorkers back to work, that's according to the mayor he says construction manufacturing, wholesale and restricted retail stores can get back open limiting the workforce capacity though to 50%, those stores be restricted to curbside pickup , or in-store pickup, but it's interesting, he says that this is phase i. he says we'll have a look at phase ii but he calls it exciting and all of the numbers with regard to the coronavirus shows that we're on the other side of the curve most definitely but he's doing it very cautiously and again