joining me for the hour on this friday are stephanie link, josh brown, pete najarian let's begin with a look at the markets. the dow is down by triple digits growing weakness in tech pete, i begin with you apple is look at its worst week since march 20th

we'll start with the tech titans we're seeing new record highs for the nasdaq let's start with you, josh brown. this is something we've been saying probably like a broken record for, it seems like weeks now. it has been. the nasdaq, new record high. new record high. is this something that worries you a bit that it just goes up in a straight line >> well, it doesn't worry me because as an investor, i would never have 100% exposure to anyone segment, sector or a pekts aspect of the stock market we preach diversification. most of the people we give financial advice to are already wealthy. our primary mandate is to keep them wealthy not race against the triple qs and try to do better than any over one, three, five year time frame. there's two ways you get beaten up in this market from buying stocks at any price and paying any level for a quote, unquote great company. first cay is obvious any minute now the music stops playing and every one scrambles for a chair and it turns out there are way more sellers than buyers when some volatility gets reenintroduced to this space it's happened before and wi

debate and discuss that with our investment committee today joining me for the hour today, joe, josh brown, brynn and amy is back. >>> it's a mixed day stocks reacting to the vaccine news josh, it seems funny to ask the question about tech on a day i showed you the index is having a nice bounce back day since that index hit its high on monday, 13th it hasn't traded all that well what do you make of that well, we're working on josh brown's mike maybe he did that on purpose since it's my first day back joe, do you want to take that same question? there we go. i was going to say this is going well so far. >> what i said was first of all, welcome back technology -- >> can you hear me >> i can hear you. amazon was down 12.7%. amazon was down that it's 1999 all over again understand that 1999, once the names like microsoft rolled over, they were in a multi year decline where technology under performed. that's not the case we'll be witnessing right now lit be a pause that refreshes. the fundamentals are strong for technology technology is the economy and there you go today, you've got amazon reco

joining me for the hour, stephanie link, josh brown, rob is back. ubs private wealth management. he's one of forbes top advisers. >> you could have picked any number of days to make this kind of call. why was today the day you did it >> the stocks had a tremendous run, as you just we wanted to get through earnings to make sure our thesis didn't change. our price target was $900 coming out of earnings and our perspective is the stock seems to be trading in the $1500 range which we find very difficult to justify unless we really make huge assumptions at this point we're not comfortable making those assumptions. >> you admit today that trying to call the direction of the stock could be a fool's game tesla shares are positive. why bother trying to make call like this in this kind of a market >> it's really not a call that the stock will go down in the next month or two. as anna agnalyst we set ratings. objectively when we look at various scenarios for the stock and say what do we think is realistic price target based on those assumptions it's $900. it's just a disconnect we move to a

we'll cover those stories and more inside the market zone with josh brown next. as a reminder, watch or listen live on the go on the cnbc app "closing bell" will be right back with 15 minutes left to trade. biguity. this moment calls for more. and northern trust delivers more. with specialized expertise. proven strategies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you new clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management. save without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you only have to pay for the data you need, starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. 5g is now included with all new data options. switch and save hundreds. xfinity mobile. some companies still have hr stuck between employeesenteri

are going to be the ones putting up the better revenue numbers for the foreseeable quarters >> josh brown, we hear the word normal a lot normalization, return to normalcy what is normal look like to you and your team when it comes to the economy, to work what do you see in that term >> i think people are dreaming stock mashlgtrket away from technology now we're starting to see this level off in consumer confidence we're starting to see some of that acceleratiexhilaration stae out. it's happen ng ting in the data. it's happening in different stock sectors. i think you'll only have to pick out these two quotes from the two largest banks in america to truly understand what's about to hits the stock market and sentiment. the first one, i picked out, this is from the cfo of jpmorgan they did a good job, which i'm sure we will address i'd say in first quarter we were looking at a deep but short lived downturn we were focusing on the most impacted sector. now we're looking at a protracted downturn and reserved for a much more broad base now it's not for the large banks. they're saying it's every

joining me for the hour on this friday are stephanie link, josh brown, pete najarian let's begin with a look at the markets. the dow is down by triple digits growing weakness in tech pete, i begin with you apple is look at its worst week since march 20th microsoft is in midst of its second negative week in a row. amazon is positive for the moment if it closed lower it will be the fourth straight negative session. facebook, will have its fourth straight negative session as well also pacing for the worst week since mid-june are we at a tipping point, pete, for some of these big tech names? >> i don't know that i call it a tipping point. i think i'd sort of more tab this something of little bit of a rotation i don't know how long that will last we'll see. it's just in the early stages of this we'll see how much pressure really does get put on i think the names are very favorable. i think there's a lot of reasons to like the names. it makes some sense that we would see pause there. we have seen a bit of a pick up. you look at financials and especially the regional financial names and see

down 157 started the hour flattish, s&p 500, up .6 of 1% joining us for last chance trade, ceo josh brown is back. josh, good to see you. what are you picking >> you know what's not flat on the day, chinese equities have absolutely been on fire the last week or so i talked boult this on the blog over the last week, a five-year break out for chinese stocks depending which version of the chinese stock market you're tracking, that could be really big or medium-sized. pretty much every chinese equity is working right now i think there were make announcements in china good for this talking about equity exposure up to $100 billion for themselves, which in turn leaves people wanting to be ahead of those buys but bigger picture, i think there's a sense the chinese economy has weathered coronavirus better than the u.s. economy and i think some institutional flows are headed into those stocks. they also have a lot of technology so relative to other foreign markets, if you think that tech and software, china is one of the places for equity exposure and play that theme. the names i want to show you,

but first to talk about the market today, josh brown is still with us, and sarah malek is joining the conversation. first to you, mike, a little buying on the close. what drove the run up? there is a lot of talk around stimulus talks, the republicans now offering $400 per month. i actually initially heard that as $400 per week relative to the $600 bump that we're getting now. $400 per month is a lot less in terms of what they are extending in unemployment benefits >> it is not clear to me why that would be viewed and translated into market action as a positive unless it was taken as an interpretation that, okay, now real negotiations have a starting point and we'll get something done but i don't know if that is the case or not. didn't want to read too much into the intra day action because it was choppy. the s&p went back to yesterday's high which is the post crash high, so it seems as if things where pretty decent order. and it is the same set of questions, which is the big tech stocks become too dominant and too heated, can the market absorb them pulling back or taking a rest for a

. >> thanks so much for that mike santoli and ceo josh brown here to discuss this, the hearing, fed decision and market close. i'll come to you first really seeing these hearings didn't affect tech stocks, one of many leaders in the market. >> didn't affect tech stocks really the fed decision did not disturb investors expectations what was going to go on there. both front left in tact. that's the way to read things. if anything the tech hearings, the fact they did sometimes stray all over the place away from antitrust, it did not give anybody nip specific substantive reason to believe the congress is going to be a different congress going to do anything to disturb business models at least for now. overall the market was pretty place i had about taking t-- pl. they were reassuring about the open ended nature of the fed's commitment to support the economy, do asset purchases, calling them accommodative not just improving market functioning. it ticked off a lot of the boxes but i don't think really it moved the market equation very much versus what was expected going in. >> 1 1/4 percentage gai

joining me for the hour on this friday are stephanie link, josh brown, pete najarian let's begin withat the markets. the dow is down by triple digits growing weakness in tech pete, i begin with you apple is look at

joining me for the hour, stephanie link, josh brown, rob is back. ubs private wealth management.one of forbes top advisers.

. >>> welcome back josh brown, it's very easy to get distracted with the big four tonight, but we also have shake shack numbers after the bell do you still own it? >> i do. i do i'm hoping nobody's paying attention, because they're so focused on alphabet and amazon shake shack has not been a great stock to hold through the earnings for some reason they have not been able to impress anyone. i think what's key is the digital transformation in terms of the app and plans for more drive-thrus, which i think will become essential, no matter when we get a vaccine >>> all right. we'll hear from you on the other side of that let's do final trades. courtney, you're up first. >> well, i think i have again toll and uber, how about a financial today with goldman sachs. if you need to be in the financial space, and you're looking for a place to high, have no fear, the investment banks and asset managers, and if you didn't get in and caught that big pop, wait for october >> a place to hide in the financials wow. >> well, people are so scared of them right now. >> for good reason. >> i know. >> with v

wealth management ceo josh brown with us as well. good afternoon to you, josh.ick things off with the broader market stocks are rallying on the first day of the new quarter with s&p and nasdaq at session highs. nasdaq currently on track to close at its own record closing high the dow is flat as we stand. mike, it's been quite a roller coaster ride since the close last night reacting to headlines on the virus news. quite impressive we're here despite headlines quite conversely. >> first of all it's summer. it does get jumpy based on headlines, quarter end flows and the rest we're talking about it's a seasonally strong period right up against july 4th. this is a market where the few can cover the sins of the many it's not an indictment, when you get spooked by macro, we have the largest stocks in the market, also the ones with the most momentum, best financials, highest kind of financial quality and almost have a defensive attribute to them. that would be the big nasdaq stocks nasdaq 100 is outperforming equal weighted version of nasdaq 100 by 1 percentage point.

first up is josh brown from bob in pennsylvania. josh said he would buy jpmorgan all day under 100.s he still feel the same? >> i do. >> that's it >> i do feel the same. >> refresh why you would do that for those who weren't watching last week. >> i think that any time you get a chance to buy one of the best managed publicly traded companies in the country at a 45% or so discount to its recent highs, i think you got to take it even if that means enduring vol diatility for the next three months, six waiting for the coast to be clear. by then i think the stock will be much higher. >> jim, next to you. charles in manhattan -- hey, jim. i often here investors talk about investments at short, medium oar long-term holdings. how do you determine which category they fit into >> i'm a long-term investors, but there are times, and we've certainly talked about it with roku, where the trade is short term you have to see it ahead of time if you ma a long her term investment, recheck your thesis. if you get out and things get better, you're going to be perpetually buying high and selling low. sim

debate and discuss that with our investment committee today joining me for the hour today, joe, josh brownn and amy is back.

not withstanding these are some very difficult times >> josh brown, you have a question for mike? >> i do. mike, jpmorgan said that about two-thirds of the draw meaning commercial loans that were borrowed in first quarter have already been paid back, which i think short term is not great for profits but maybe intermediate term it's great for capital ratios why are commercial borrowers returning money? do you think that has something to do with the government program or refinancing in some other way? what's your take >> i would say thank you treasury, fed and banking regular la regulators because they have stepped in here and prevented a bad scenario from getting much worse. you saw draw downs from corporations in the middle of march. many of the loans have been paid back the reason is capital markets are wide open. we're talking record fixed income issuance year to date you have taken the bank loans and gone to the debt markets and the next stage could be re-equification of some of those corporations lit be interesting to watch if the equity markets pick up >> stephanie >> mike, i

eastern time with josh brown looking forward to that we have a news alert now on nba ratings.> well, sara, huge demand for live sports and huge demand for nba. the restart doubleheader averaging 3.4 million viewers. that is more than double the regular season audience. the clippers-lakers peaked with an average of 4.1 million viewers. and tnt's inside the nba delivers the best viewership since opening week in 2018 bleacher report also watch there. highest traffic day since april with more than ten million cross platform engagements so really speaking to demand for the restart of live sports guys, back to you. >> wow julia, thank you >>> up next, saving salons the coronavirus taking its toll on salon owners around the country and billionaire john paul degoria is stepping up to help them cope he joins us next the volatility. the ambiguity. this moment calls for more. and northern trust delivers more. with specialized expertise. proven strategies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you new c

josh campbell cnn, portland. oregon's governor says that she wants federal officers out of portland and speaking with cnn's don lemon today governor kate brownsaid that the trump administration. >>is abusing its power. >>i think it looks like the video shows is a clique complete violation of that person civil rights and of course a violation of our constitution but that shouldn't be a surprise from these federal authorities. >>governor brown says she has asked the department of homeland security chad wolf to remove the agents from her state. >>the trump administration will have to accept new applications for the dhaka program, a federal judge issued that order yesterday. the program protects undocumented immigrants who came to the u.s. as children from being deported. yesterday's ruling comes saw almost a month after the u.s. supreme court blocked the trump administration's attempt to end the daca program. the trump administration has reportedly removed the portraits of former presidents george w bush and bill clinton from the white house the portraits hung in the grand for yea of the executive mansion. presidential aides say they've now bee

josh. we appreciate it. we got a lot more to come on the growing outrage over the story. you are going to hear what oregon's governor, kate brown says. she's next. she wants the feds out of her state. >>> the crackdown on portland, oregon, protestors is really stunning. video showing unidentified law enforcement officers, driving off with a protestor, in an unmarked van. customs and border protection has since confirmed the officers work for them. joining me now is oregon's governor, kate brown. governor, thank you so much for joining us. wow. this is -- let's get to the bottom of this. so many people are outraged by this. unidentified agents detaining a protestor in portland, with no explanation. and then, driving away with him in an unmarked van. what was your reaction, when you saw this? >> it's absolutely outrageous. oregonians are appalled, and americans, across the country, should be as well. but it shouldn't be a surprise that the trump administration is refusing to engage in deescalation and in dialogue. in oregon, we problem solve by bringing people to a table, and working through our issues. clearly, the trump adminis