seeing the effects of lower interest rates as well with a drop in net interest income. >> chris verroneat do you make of these charts >> i think ibkr is improving here in a meaningful way, 50 back up to the 200 ameritrade i'm more of a skeptic. this has been in a down trend. if you want best of breed in the brokers, morgan stanley is the best chart among the brokers and it's the one where i think longs should be concentrated >> i feel like it's the story of the second quarter and that is to what degree are you pulling forward from the third quarter, jeff i feel like there's a little bit of that here as well there's also the question of sustainability of all of these trading levels given work from home and if the economy reopens, people have less stimulus, et cetera, they could change the dynamics here? >> i brought that up last time too. i don't know whether it's the dave portnoy effect. to your point about the pull forward i think it's legitimate. you're seeing so much consolidation in the space and i know the stocks had a hard time. i think about a schwab, really big company that's ab

chris perrone -- chris verrone joins us from strategic. what is the trend on the equity market? s: i think the tactical trend is sideways. we were digesting a 40% rally off the lows. we do not have much seasonal support over the next 60 to 90 days. the next month or two will look like last month or two, where markets do not make a lot of progress. lisa: when you think the virus counts will matter again? chris: it is an important question and certainly the topic of almost every conversation we have had. i would encourage people to think about it differently. this is less about the trajectory of the virus. this is about the financial market interpretation of that. what i have been encouraged by over the last several weeks as the news around the virus has got more dire, you've not seen credit position deteriorate to any meaningful extent. it is a big difference from late february and early march, where the credit backdrop began to deteriorate in a quick fashion. that has not happened. i think credit markets are more important than what the daily virus count is. lisa: jamie dimon spe