i wonder, joe, what the message of the market is to be our friend larry mcdonald had an interesting tweet earlier looking at the group of stocks whether it's sectors and performance on the s&p 500 and cites over the last 12 months that staples have outperformed almost everything and quite dramatically discretionary is up 3 and financials are disappointing and the russell is disappointing and the banks are disappointing. consumer optimism peaks ahead of a recession, confidence number today was exceptionally strong >> so we're at the crossroads of what is going on >> we're at a stall and we're at a stall because i keep talking about it i think the communication from washington, d.c., has been wrong since thirdursday, august 1st 28% is the gain when the president was elected until he announced the steel and aluminum tariffs. somewhat sideways. high data exposure type names respond to a correlation the correlation previously was, where is the chinese currency? if it was valued above 7, equities move lower. the correlation now is specific to the three month, the ten-year which is now negative

analysis and insight with larry mcdonald coming up fun fact: 1 in 4 of us millennials have debt we mightnd most of that debt is actually from credit cards. it's just not right. but with sofi, you can get your credit cards right - by consolidating your credit card debt into one monthly payment. you can get your interest rate right - by locking in a fixed low rate today. and you can get your money right. with sofi. check your rate in 2 minutes or less. get a no-fee personal loan up to $100k. take prilosec otc and take control of heartburn. so you don't have to stash antacids here... here... or, here. kick your antacid habit with prilosec otc. one pill a day, 24 hours, zero heartburn. >>> welcome back you can add yet another argumen to that wall of worry we showed you before yesterday was one of the single biggest declines in the history of global stock markets ever the argentinian industrial jones collapsing 38% in one day. this after the president was dealt a major defeat in a primary election against leftist alberto fernandez who's running mate is former president and nationalist christi

we'll ask a guy that used to run mcdonald's u.s.a. and larry kudlow telling david asman more tax cuts could be coming in the 2020 campaign. the thing is, will that help or hurt the economy? we'll debate it next. due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? sharing my roots. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking eliquis, you may bruise more easily and it may take longer than usual for any bleeding to stop. seek immediate medical care for sudden signs of bleeding, like unusual bruising. eliquis may increase your bleeding risk if you take certain medicines. tell your doctor about a

larry cudlow. >> times square that was excellent. >> random act of kindness as we begin the summer weekend, mcdonald's in el paso, texas.azel cain walked into the mcdonald's to buy food after she ran out of the food she prepared to feed hungry people on the street. the food ran out and she got $40 worth have hamburgers but it wasn't enough. she asked if anyone would help her out. get ready to smile. the store manager, matthew ortiz, threw in $20, the staff got together, all they got together, 60 cheese burgers to feed the homeless. hazel said the staff was great. hazel you're making us all smile. >> very nice. >> easy to get into vending machines, hard to get out of, ask this little guy. look at this. this is wan outdoor vending machine at a high school. he got stuck. thankfully the sheriff's office came, wheeled the whole thing out to wherever and they released him. wait, just believe me in here, i found a lot of food in there. [laughing] >> breakfast, lunch, and dinner. >> that can help you if you get stuck. >> rockies, good luck. that's it, see you back monday, of great weekend. [national anthem] ♪ [national anthem]

mcdonald's. joining us now is jeffrey kahn at elevate partners. jeffrey, do you agree with blackrock? >> well, look. i think larry but it's a wise move times are changing and the practices need to keep up. think of the world of business today. the pace of change ten times faster disruption and competition coming from all angles economic institutions of capitalism are literally under attack so i think the board members need to step up and they need to manage the risk better and be more focused and spend time in a smaller handful of companies and deeper and not wider it reduces the risk and it raises the ceiling for all parties. >> do you think this is actually, when you have a heavy hitter like blackrock make rules like this, do you think it actually changes governance at companies? >> i do. i think that governance is positive and it will drive economic value i think what it will do is force or allow board members to do a deeper dive and not only manage the strategy because it's changing so much more rapidly but really the people side so it gives them a chance to focus on ceo succession planning and succession pla