. >> jim stewart, always good to get your thoughts. carl, here with the s&p up with a percent. watching the gains slip here >> yeah, we'll see what happens this afternoon and sarah did say. and by the way welcome to squawk ali. the session high was 3088, we lost a fair amount of ground from the first high this morning, the 200 day moving around is 3013 that got violated briefly and we will see if this hospitals. >> yeah, and the stocks, we will see if it holds. bob, good morning, good to see you. >> thank you, happy friday >> happy friday, now you said that to you, yesterday's decline was no surprise. what about today's pop which is quickly fading now what does that tell you about what investor strategy should be >> i think when you i did klein the amount that we did yesterday, and have some sort of bans, that is not out of the ordinary at all. i'm a little surprised it is not holding better we were very over bought as i heard in the last interview and i agree we had speculation cream in it felt like because the market was a v bottom that the market was off and running and it i

they lack the training and there are opportunities for programs >> let's bring in jim stewart, columnisth the new york times. thanks for the time today. good to talk to you. >> sure. good morning >> ken's point is that the protests are not going to be around forever the virus is not going to be around forever and what's going to matter is what the companies do in terms of action. what do they need to do? >> that's a great question could this be a catalyst along with the pandemic for somehow finally addressing some of the systemic issues? and i think there are lots of things that could be done. i would love to see done it came as a shock to me a simple level there are so many school children in this country who don't have access to a country that's astonishing how much would it cost to put a laptop in every school student's home i don't know but to me that would be an investment worth making in education. the health care inequities where minority neighborhoods have been hit so much harder by the virus because they don't have access to health care either the kind of preventative health car

joining us now is jim stewart, boy yesterday was an ugly day, jim. >> yeah, it was really -- >> it makes trend reversing. what are your current thoughts and advice to individual investors right now. >> as i said before the market at the previous high was pricing in call good news. i'm not surprised there was a pull back and then a whiff of not so good news the cases, the hospitalizations, some of these chief states that said, the move wasn't big enough, and it is up 6%. i typically look for a 10% high. that is a little arbitrary, but it worked pretty well through this process i would say we're not there yet. we could get there i mean secretary mnuchin was going to recommend but they were in california, texas, okay, these are big populous states, and i think that data will be very important to watch in the next few weeks >> the other thread is this mania around stocks, especially that hearse wants to raise an equity offering in bankruptcy, and the return of the retail investor around some of these speculative stocks, what do you make of it all >> i think that is a classic mistake that a l

lee absolutely and with the beard with the reddish beard you look more like jim stewart but that's excellent. let's take a look at a few things and write. these are the dead from gettysburg. we visit the confederate section of the cemetery with the graves of around 2000 soldiers who died in gettysburg a battle lost by robert e. lee in 1963 it was arguably the turning point in the war. heavy casualties. around 50000 soldiers from both sides died in that battle there are a lot of people that feel that those statues need to come down when you look at these monuments just on a pure abstract be they're beautiful works of our beautiful works of art and then you've got the military brilliance of robert e. lee which is still studied by military theorists today the passion for this issue we as the sins of confederate ancestors they're our family we revere the fact that we feel in our opinion they fought for a noble cause to overthrow it overbearing federal government would you want anybody to talk badly about your family just the notion of family you know brings up a lot of emotions in me but at the

and i've made all of 3% in the 40% rally i missed a great opportunity here >>> joining us now, jim stewart period that's confounded stan druckenmiller and he sees the distinct drivers that could be good or bad news, how do you think a typical investor after a 45% rally in a few months should be navigating things here? >> i think you have to stay away from overthinking this at a time when we really don't know what's going to happen. this is like an unprecedented situation. i've been saying all along, stick to your program. stick to the strategy. and if you did as i said at the time, you did not do what druckenmiller did. you were buying on the buy down, sticking to your asset allocation, and now it's time to stick to it on the way up, which i've been thinking lately is just as hard to tell when people are feeling euphoric as it is to buy when people are feeling despair. given the magnitude of the rally, i look at your portfolio, if you're 640 -- 60/40, rebalance. take money out of stocks and put it into fixed income which should be cash at this point because fixed income is doing so little

jim stewart joins us this morning to talk about that and i guess the stock is well, jim bounced off ofearly morning lows today how much do you sense this is truly gathering steam? >> i think looking at the big picture here, facebook and mark zuckerberg have lost a war where the battle lines will be drawn, i don't know. but remember back in his famous speech in georgetown in 2019, zuckerberg sounded like a supreme court justice laying out the principles of free speech and saying that facebook was not going to censor people and wanted to let everything go. well, that debate is over. facebook is not the united states government. it is a private company. it is free to publish or not publish whatever it wants but it also is going to have to respond to the marketplace, namely the advertisers. i think that's what we see kicking in now facebook is already compromised tremendously they're already moving boundaries and trying to do some things to address the most extreme examples on that i think it's going to have to go further. as i said, once you go down that road, you've got to draw the line

here we're talking about -- and what jon stewart is getting to, is a history of structural violence. beginning with the enslavement, through black -- jim crow sort of reverse -- the reconstruction, black incarceration. we're talking about a disadvantage that sort of benefits structural inequality and benefits white society. >> absolutely. great to have you. >> thank you. >>> well, could the european union block americans from visiting eu countries as a result of this country's handling of the coronavirus? they are thinking about it. we'll have more. 've had. i've been on and off oral steroids to manage my asthma. does that sound normal to you? it's time for a nunormal with nucala. my nunormal: fewer asthma attacks. my nunormal: less oral steroids. nucala is a once-monthly add-on injection for severe eosinophilic asthma. it targets and reduces eosinophils, a key cause of severe asthma. nucala is proven to help prevent severe asthma attacks and reduce the need for oral steroids. nucala is not for sudden breathing problems. allergic reactions can occur. get help right away if you have swelling of your face, mouth, tongue, or trouble breat